Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
TRUST FUNDS INCORPORATED
 
Number and street (or P.O. box number if mail is not delivered to street address)1104 CORPORATE WAY
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SACRAMENTO, CA95831
A Employer identification number

94-6062952
B Telephone number (see instructions)

(916) 395-4472
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$9,340,522J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 500
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 204 204  
4 Dividends and interest from securities... 81,497 81,497  
5a Gross rents............ 450,168 450,168  
b Net rental income or (loss) 375,572
6a Net gain or (loss) from sale of assets not on line 10 80,321
b Gross sales price for all assets on line 6a 1,621,172
7 Capital gain net income (from Part IV, line 2)... 80,321
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).......      
12 Total. Add lines 1 through 11........ 612,690 612,190  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 54,692 5,819   39,534
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 5,928 593   4,150
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 21,165 19,048   1,058
c Other professional fees (attach schedule).... Click to see attachment 33,435 33,435    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 4,884 127    
19 Depreciation (attach schedule) and depletion... Click to see attachment 18,031 18,031  
20 Occupancy.............. 10,475 1,047   7,333
21 Travel, conferences, and meetings....... 3,061 133   2,722
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 66,504 59,279   5,747
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 218,175 137,512   60,544
25 Contributions, gifts, grants paid....... 415,990 415,990
26 Total expenses and disbursements. Add lines 24 and 25 634,165 137,512   476,534
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -21,475
b Net investment income (if negative, enter -0-) 474,678
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 2,062 9,002 9,002
2 Savings and temporary cash investments......... 143,731 120,633 120,633
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 6,093 1,346 1,346
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 2,988,361 Click to see attachment2,931,853 3,113,741
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet1,210,633
Less: accumulated depreciation (attach schedule) bullet491,145 655,213 Click to see attachment719,488 6,093,000
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet   2,346    
15 Other assets (describe bullet) Click to see attachment2,232 Click to see attachment2,800 Click to see attachment2,800
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,800,038 3,785,122 9,340,522
Liabilities 17 Accounts payable and accrued expenses.......... 1,969 1,923
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment38,217 Click to see attachment44,822
23 Total liabilities (add lines 17 through 22)......... 40,186 46,745
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 3,348,099 3,348,099
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 411,753 390,278
30 Total net assets or fund balances (see instructions)..... 3,759,852 3,738,377
31 Total liabilities and net assets/fund balances (see instructions). 3,800,038 3,785,122
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
3,759,852
2
Enter amount from Part I, line 27a .....................
2
-21,475
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
3,738,377
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
3,738,377
Form 990-PF (2015)
Form 990-PF (2015)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a CAPITAL GAINS DISTRIBUTIONS P 2000-12-31 2015-12-31
b 324 STR HOTELS & RESORTS 8.25% CUM PERP PFD P 2014-12-04 2015-01-05
c 676 STR HOTELS & RESORTS 8.25% CUM PERP PFD P 2014-12-05 2015-01-05
d .98 UNITED SECURITY BANCSHARES CALIF P 2015-01-21 2015-01-21
e 600 HEALTH CARE REIT INC P 2014-04-15 2015-02-06
150 HEALTH CARE REIT INC P 2014-04-15 2015-02-06
750 VENTAS INC P 2014-04-15 2015-02-06
100 CHEVRON CORPORATION P 2014-04-29 2015-03-10
51 CHEVRON CORPORATION P 2014-04-29 2015-03-10
49 CHEVRON CORPORATION P 2014-04-29 2015-03-10
100 CHEVRON CORPORATION P 2014-04-29 2015-03-10
400 EXXON MOBILE CORP P 2014-05-06 2015-03-10
7.918 COLUMBIA FDS SER TR II MASS EMG MKTS BD P 2014-12-18 2015-04-16
303.199 IVY FDS INC CORE EQUITY FD CL I P 2014-12-12 2015-04-13
34.773 MFS SER TR I VALUE FD CL I P 2014-12-12 2015-04-13
.14 UNITED SECURITY BANCSHARES CALIF P 2015-04-17 2015-04-17
150 HEALTH CARE REIT INC P 2014-06-18 2015-05-06
6,778.742 IVY FDS INC CORE EQUITY FD CL I P 2015-04-13 2015-05-06
1,338.33 IVY FDS INC CORE EQUITY FD CL I P 2015-04-16 2015-05-06
150 VENTAS INC P 2014-06-18 2015-05-06
350 HEALTH CARE REIT INC P 2014-06-18 2015-06-05
350 VENTAS INC P 2014-06-18 2015-06-05
.31 UNITED SECURITY BANCSHARES CALIF P 2015-07-17 2015-07-17
200 CATERPILLAR INC P 2014-10-21 2015-07-02
1,000 CONOCOPHILLIPS P 2014-10-21 2015-07-02
3,779.289 TEMPLETON INCOME TR GLOBAL BD FD AD CL P 2014-10-30 2015-07-30
1,525.553 TEMPLETON INCOME TR GLOBAL BD FD AD CL P 2014-12-04 2015-07-30
31.102 TEMPLETON INCOME TR GLOBAL BD FD AD CL P 2014-12-16 2015-07-30
49.023 OPPENHEIMER DISCOVERY FD CL Y P 2014-12-04 2015-10-09
1,480.75 TEMPLETON INCOME TR INTL BOND FD ADV CL P 2015-07-30 2015-10-09
2,250.563 THORNBURG INCOME TR LTD TERM INC FD CL I P 2014-12-04 2015-10-09
.48 UNITED SECURITY BANCSHARES CALIF P 2015-10-16 2015-10-16
58.62 GABELLI EQUITY SER FD SML CAP GROWTH FD P 2015-11-25 2015-12-14
322.568 PRUDENTIAL JENNISON MID-CAP GROWTH FD CL P 2014-12-19 2015-12-14
5,482.456 EATON VANCE FLOATING RATE FD CL I P 2013-07-01 2015-01-23
500 STR HOTELS & RESORTS 8.25% CUM PERP PFD P 2013-03-08 2015-01-05
225 ROYAL DUTCH SHELL PLC ADR CL A P 2011-02-17 2015-03-10
1,372.224 COLUMBIA FDS SER TR II MASS EMG MKTS BD P 2012-12-04 2015-04-16
51.49 COLUMBIA FDS SER TR II MASS EMG MKTS BD P 2012-12-19 2015-04-16
800.641 COLUMBIA FDS SER TR II MASS EMG MKTS BD P 2013-03-28 2015-04-16
6,354.81 COLUMBIA FDS SER TR II MASS EMG MKTS BD P 2013-11-11 2015-04-16
200.548 COLUMBIA FDS SER TR II MASS EMG MKTS BD P 2013-12-18 2015-04-16
3,939.593 IVY FDS INC CORE EQUITY FD CL I P 2013-11-11 2015-04-13
156.138 IVY FDS INC CORE EQUITY FD CL I P 2013-12-13 2015-04-13
58.317 IVY FDS INC CORE EQUITY FD CL I P 2013-12-13 2015-04-13
1,279.635 MFS SER TR I VALUE FD CL I P 2012-01-19 2015-04-13
9.291 MFS SER TR I VALUE FD CL I P 2012-12-12 2015-04-13
.18 MFS SER TR I VALUE FD CL I P 2013-03-28 2015-04-13
17.607 MFS SER TR I VALUE FD CL I P 2013-12-11 2015-04-13
5.549 MFS SER TR I VALUE FD CL I P 2013-12-11 2015-04-13
2,095.328 AMERICAN EUROPACIFIC GROWTH FU CL F2 P 2009-08-27 2015-04-13
28.391 AMERICAN EUROPACIFIC GROWTH FU CL F2 P 2009-12-28 2015-04-13
18.882 AMERICAN EUROPACIFIC GROWTH FU CL F2 P 2010-12-28 2015-04-13
15.536 AMERICAN EUROPACIFIC GROWTH FU CL F2 P 2011-12-28 2015-04-13
19.561 AMERICAN EUROPACIFIC GROWTH FU CL F2 P 2012-12-27 2015-04-13
235.97 AMERICAN EUROPACIFIC GROWTH FU CL F2 P 2013-03-28 2015-04-13
LEHMAN BROS HLDGS SENIOR NOTES P 2000-12-31 2015-04-02
200 HEALTH CARE REIT INC P 2014-04-15 2015-05-06
50 HEALTH CARE REIT INC P 2014-04-15 2015-05-06
1,000 SUNSTONE HOTEL 8% PFD INVS INC CUM PERP P 2012-04-11 2015-05-04
240 SUNSTONE HOTEL 8% PFD INVS INC CUM PERP P 2012-11-12 2015-05-04
79 VENTAS INC P 2014-04-15 2015-05-06
171 VENTAS INC P 2014-04-15 2015-05-06
300 CHEVRON CORPORATION P 2014-04-29 2015-07-02
100 EXXON MOBILE CORP P 2012-12-07 2015-07-02
50 EXXON MOBILE CORP P 2012-12-07 2015-07-02
25 EXXON MOBILE CORP P 2014-01-10 2015-07-02
2,498.107 TEMPLETON INCOME TR GLOBAL BD FD AD CL P 2014-05-14 2015-07-30
2,486.812 TEMPLETON INCOME TR GLOBAL BD FD AD CL P 2014-06-18 2015-07-30
3,313.253 TEMPLETON INCOME TR GLOBAL BD FD AD CL P 2014-07-18 2015-07-30
209.728 DELAWARE DELCHESTER HIGH CORPORATE BD FD P 2012-07-09 2015-10-09
235.1 DELAWARE DELCHESTER HIGH CORPORATE BD FD P 2012-11-23 2015-10-09
13.135 DELAWARE DELCHESTER HIGH CORPORATE BD FD P 2012-11-23 2015-10-09
4,777.639 DELAWARE DELCHESTER HIGH CORPORATE BD FD P 2013-09-16 2015-10-09
LEHMAN BROS HLDGS SENIOR NOTES P 2009-08-15 2015-10-01
542.464 JPMORGAN MID CAP VALUE FUND CL I P 2012-11-27 2015-10-09
11.064 JPMORGAN MID CAP VALUE FUND CL I P 2012-12-14 2015-10-09
266.368 JPMORGAN MID CAP VALUE FUND CL I P 2013-02-08 2015-10-09
179.469 MFS SER TR V INTL NEW DISCOVERY FD CL I P 2009-08-27 2015-10-02
169.915 OPPENHEIMER DISCOVERY FD CL Y P 2013-01-16 2015-10-09
294.291 OPPENHEIMER DISCOVERY FD CL Y P 2013-02-08 2015-10-09
70.089 OPPENHEIMER DISCOVERY FD CL Y P 2013-12-05 2015-10-09
225 ROYAL DUTCH SHELL PLC ADR CL A P 2011-02-17 2015-10-02
1655.629 VIRTUS EMERGING MARKETS OPPORT FND CL I P 2013-01-16 2015-10-02
1563.314 GABELLI EQ SER FD SML CAP GR FD CL I P 2013-01-16 2015-12-14
46.241 GABELLI EQ SER FD SML CAP GR FD CL I P 2013-11-27 2015-12-14
.461 GABELLI EQ SER FD SML CAP GR FD CL I P 2013-11-27 2015-12-14
29.873 GABELLI EQ SER FD SML CAP GR FD CL I P 2014-11-26 2015-12-14
1787.843 PRUDENTIAL JENNISON MID-CAP GR FND CL Z P 2013-01-16 2015-12-14
576.701 PRUDENTIAL JENNISON MID-CAP GR FND CL Z P 2013-02-08 2015-12-14
39.992 PRUDENTIAL JENNISON MID-CAP GR FND CL Z P 2013-12-18 2015-12-14
20.295 PRUDENTIAL JENNISON MID-CAP GR FND CL Z P 2013-12-18 2015-12-14
587.820 PRUDENTIAL JENNISON MID-CAP GR FND CL Z P 2014-10-30 2015-12-14
1500 STRATEGIC HOTEL & CHG RESORTS INC P 2013-04-03 2015-12-14
(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 19,203     19,203
b 8,100   8,230 -130
c 16,900   17,170 -270
d 5     5
e 47,198   37,295 9,903
11,799   9,323 2,476
57,411   48,855 8,556
10,297   12,634 -2,337
5,251   6,444 -1,193
5,044   6,191 -1,147
10,296   12,635 -2,339
33,866   41,079 -7,213
88   82 6
4,824   4,606 218
1,235   1,209 26
1     1
10,610   9,276 1,334
125,949   125,000 949
24,866   25,000 -134
10,009   9,365 644
23,957   21,644 2,313
22,270   21,851 419
2     2
16,892   19,242 -2,350
60,391   70,110 -9,719
45,616   50,000 -4,384
18,413   20,000 -1,587
375   382 -7
3,943   3,747 196
15,000   15,370 -370
30,000   30,247 -247
3     3
2,671   2,824 -153
12,380   12,812 -432
48,849   50,000 -1,151
12,500   11,464 1,036
13,352   15,878 -2,526
15,177   17,386 -2,209
569   649 -80
8,855   10,000 -1,145
70,284   72,000 -1,716
2,218   2,214 4
62,679   60,000 2,679
2,484   2,256 228
928   843 85
45,453   30,000 15,453
330   237 93
6   5 1
625   569 56
197   179 18
108,098   74,607 33,491
1,465   1,092 373
974   774 200
801   547 254
1,009   802 207
12,174   10,000 2,174
320     320
14,146   12,431 1,715
3,537   3,108 429
26,670   24,640 2,030
6,401   6,269 132
5,271   5,146 125
11,410   11,141 269
28,906   37,904 -8,998
8,308   8,824 -516
4,154   4,412 -258
2,077   2,502 -425
30,152   33,000 -2,848
30,016   33,000 -2,984
39,991   44,000 -4,009
1,202   1,294 -92
1,347   1,450 -103
75   81 -6
27,376   27,901 -525
239     239
19,849   15,265 4,584
405   311 94
9,746   8,015 1,731
5,000   3,037 1,963
13,666   11,160 2,506
23,670   20,000 3,670
5,637   5,774 -137
10,994   15,878 -4,884
15,000   17,136 -2,136
71,225   60,000 11,225
2,107   2,196 -89
21   22 -1
1,361   1,480 -119
68,617   60,000 8,617
22,134   20,000 2,134
1,535   1,562 -27
779   793 -14
22,561   25,000 -2,439
21,375   11,994 9,381
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       19,203
b       -130
c       -270
d       5
e       9,903
      2,476
      8,556
      -2,337
      -1,193
      -1,147
      -2,339
      -7,213
      6
      218
      26
      1
      1,334
      949
      -134
      644
      2,313
      419
      2
      -2,350
      -9,719
      -4,384
      -1,587
      -7
      196
      -370
      -247
      3
      -153
      -432
      -1,151
      1,036
      -2,526
      -2,209
      -80
      -1,145
      -1,716
      4
      2,679
      228
      85
      15,453
      93
      1
      56
      18
      33,491
      373
      200
      254
      207
      2,174
      320
      1,715
      429
      2,030
      132
      125
      269
      -8,998
      -516
      -258
      -425
      -2,848
      -2,984
      -4,009
      -92
      -103
      -6
      -525
      239
      4,584
      94
      1,731
      1,963
      2,506
      3,670
      -137
      -4,884
      -2,136
      11,225
      -89
      -1
      -119
      8,617
      2,134
      -27
      -14
      -2,439
      9,381
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 80,321
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 -6,961
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2014 438,890 8,642,053 0.05079
2013 305,409 8,436,815 0.03620
2012 308,836 8,067,132 0.03828
2011 485,721 8,524,520 0.05698
2010 436,454 8,287,894 0.05266
2
Total of line 1, column (d) .....................
20.234909
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years . . .
3
0.046982
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
9,397,986
5
Multiply line 4 by line 3......................
5
441,536
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
4,747
7
Add lines 5 and 6........................
7
446,283
8
Enter qualifying distributions from Part XII, line 4.............
8
476,534
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2015)
Form 990-PF (2015)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 4,747
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 4,747
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 4,747
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 6,093
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 6,093
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,346
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet1,346 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
No
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletJAMES T HEALY Telephone no.bullet (916) 395-4472

    Located atbullet1104 CORPORATE WAYSACRAMENTOCA ZIP+4bullet958313875
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    JAMES T HEALY President
    20.00     		46,692 2,280  
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    THOMAS F KUBASAK CFO
    4.00     		3,000    
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    JOAN C O'ROURKE Director
    2.00     		1,500    
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    THOMAS J KELLEY Director
    2.00     		1,500    
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    JOHN STRAIN Secretary
    2.00     		2,000    
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    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
     
    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)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    3,128,829
    b
    Average of monthly cash balances.......................
    1b
    319,274
    c
    Fair market value of all other assets (see instructions)................
    1c
    6,093,000
    d
    Total (add lines 1a, b, and c).........................
    1d
    9,541,103
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    9,541,103
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    143,117
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    9,397,986
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    469,899
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    469,899
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    4,747
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,747
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    465,152
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    465,152
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    465,152
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    476,534
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    476,534
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
    4,747
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    471,787
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 465,152
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011...... 897
    c From 2012......  
    d From 2013......  
    e From 2014...... 16,201
    fTotal of lines 3a through e........ 17,098
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 476,534
    a Applied to 2014, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2015 distributable amount..... 465,152
    e Remaining amount distributed out of corpus 11,382
    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 28,480
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		28,480
    10 Analysis of line 9:
    a Excess from 2011.... 897
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014.... 16,201
    e Excess from 2015.... 11,382
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JAMES T HEALY PRESIDENT
    1104 CORPORATE WAY
    SACRAMENTO,CA958313875
    (916) 395-4472
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATION FORM FOR CATHOLIC ELEMENTARY SCHOOLS - GRANTS FOR SPECIFIC PURPOSES SUCH AS TEXTBOOKS, AUDIO-VISUAL EQUIPMENT, RELIGIOUS EDUCATION MATERIAL, COMPUTERS, SOFTWARE, CLASSROOM FURNITURE, AS WELL AS SPECIFIC DATA ABOUT THE SCHOOL. A DIFFERENT APPLICATION FORM IS REQUIRED FROM OTHER APPLICANTS REQUESTING A COMPREHENSIVE DESCRIPTION OF THE NEED AND SPECIFIC DATA OF THE APPLICANTS ORGANIZATION.
    cAny submission deadlines:
    QUARTERLY DEADLINES FOR APPLICATION SUBMISSIONS.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SAN FRANCISCO BAY AREA AND CATHOLIC CHARITIES ARE FAVORED.
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    COUNCIL ON FOUNDATIONS
    2121 CRYSTAL DRIVE SUITE 700
    ARLINGTON,VA22202     		N/A PUB CHRTY DUES OVER $500 REPORT AS GRANT 490
    AMERICANS UNITED FOR LIFE
    655 15TH STREET NW SUITE 410
    WASHINGTON,DC20005     		N/A PUB CHRTY WOMEN'S PROTECTION PROJECT 10,000
    MODESTO PREGNANCY CENTER
    2801 COFFEE ROAD SUITE A5
    MODESTO,CA95355     		N/A PUB CHRTY COMMUNITY EDUCATION PROJECTS 9,000
    ROSETTA FOUNDATION
    93 YOUNG ROAD
    AUGUSTA,ME04330     		N/A PUB CHRTY RECONSTRUCTION OF WEBSITE 10,000
    ST TIMOTHY SCHOOL
    1515 DOLAN AVENUE
    SAN MATEO,CA94401     		N/A PUB CHRTY IMPLEMENTATION OF TECHNOLOGY PLAN 12,000
    SALESIAN COLLEGE PREPARATORY
    2851 SALESIAN AVENUE
    RICHMOND,CA94804     		N/A PUB CHRTY STUDENT SCHOLARSHIPS 8,000
    NOTRE DAME HIGH SCHOOOL
    1540 RALSTON AVENUE
    BELMONT,CA94002     		N/A PUB CHRTY TUITION ASSISTANCE 8,000
    RELIGIOUS OF THE SACRED HEART
    140 VALPARAISO AVENUE
    ATHERTON,CA94027     		N/A PUB CHRTY UPGRADING OF BATHROOMS 10,000
    JESUITS' CALIFORNIA PROVINCE
    POBOX 68
    LOS GATOS,CA95031     		N/A PUB CHRTY TRANSPORTATION OF RETIRED PRIESTS 2,500
    THE GUARDSMEN
    PO BOX 29250
    SAN FRANCISCO,CA94129     		N/A PUB CHRTY SCHOLARSHIPS 7,500
    CATHOLIC CHARITIES OF SANTA CLARA C
    921 S FIRST STREET B
    SAN JOSE,CA95110     		N/A PUB CHRTY YOUTH LEADERSHIP PROGRAM 10,000
    ST PETER'S SCHOOL
    1266 FLORIDA STREET
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    CRISTO REY SAN JOSE JESUIT HIGH SCH
    1390 FIVE WOUNDS LANE
    SAN JOSE,CA95116     		N/A PUB CHRTY LAPTOP COMPUTERS FOR STUDENTS 10,000
    BETHANY CHRISTIAN SERVICES
    3048 HAHN DRIVE
    MODESTO,CA95350     		N/A PUB CHRTY CHILD ADOPTION SERVICES & EDUCATION 15,000
    EPIPHANY CENTER
    100 MASONIC AVENUE
    SAN FRANCISCO,CA94118     		N/A PUB CHRTY PARENT-CHILD CENTER SERVICES 15,000
    ST MARY'S MEDICAL CENTER FOUNDATION
    450 STANYAN STREET
    SAN FRANCISCO,CA94117     		N/A PUB CHRTY IMPROVEMENTS TO TREATMENT CENTER FOR ADOLESCENTS WITH MENTAL ILLNESS 7,500
    BERKELEY FOOD HOUSING PROJECT
    2362 BANCROFT WAY
    BERKELEY,CA94704     		N/A PUB CHRTY MEALS PROGRAM FOR THE NEEDY 15,000
    SACRAMENTO LIFE CENTER
    930 ALHAMBRA BLVD SUITE 230
    SACRAMENTO,CA95816     		N/A PUB CHRTY MOBILE MEDICAL CLINIC 15,000
    HOLY NAMES UNIVERSITY
    3500 MOUNTAIN BLVD
    OAKLAND,CA94619     		N/A PUB CHRTY ACCESS PROGRAM FOR LOW INCOME YOUTH 10,000
    NOTRE DAME HIGH SCHOOL
    1540 RALSTON AVENUE
    BELMONT,CA94402     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    CATHOLIC RELIEF SERVICES
    PO BOX 17152
    BALTIMORE,MD21298     		N/A PUB CHRTY NEPAL RELIEF 5,000
    NOTRE DAME HIGH SCHOOL BELMONT
    1540 RALSTON AVENUE
    BELMONT,CA94402     		N/A PUB CHRTY TUITION ASSISTANCE (DONOR'S GIFT) 500
    BIRTHRIGHT OF WALNUT CREEKCONCORD
    3106 CLAYTON ROAD
    CONCORD,CA94519     		N/A PUB CHRTY MOTHER & CHILD SERVICES 10,000
    BOYS' GIRLS' TOWNS OF ITALY
    250 EAST 63RD STREET SUITE 204
    NEW YORK,NY10065     		N/A PUB CHRTY SUPPORT FOR HOMELESS CHILDREN 5,000
    IMMACULATE CONCEPTION ACADEMY
    3625 - 24TH STREET
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY TUITION ASSISTANCE 12,500
    SACRED HEART CATHEDRAL PREPARATORY
    1055 ELLIS STREET
    SAN FRANCISCO,CA94109     		N/A PUB CHRTY RELIGIOUS PROGRAM 10,000
    DIOCESE OF OAKLAND
    2121 HARRISON STREET SUITE 100
    OAKLAND,CA94612     		N/A PUB CHRTY SCHOOLS LEARNING PROGRAM 12,500
    ST ANTHONY'S FOUNDATION SAN FRANCIS
    150 GOLDEN GATE AVENUE
    SAN FRANCISCO,CA94102     		N/A PUB CHRTY SERVICES TO HOMELESS 2,000
    ARCHBISHOP RIORDAN HIGH SCHOOL
    175 PHELAN AVENUE
    SAN FRANCISCO,CA94112     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    MOUNT OF DIVINE MERCY
    PO BOX 14
    UNION CITY,CA94587     		N/A PUB CHRTY RELIGIOUS PROGRAM 7,500
    VILLA SIENA
    1855 MIRAMONTE AVENUE
    MOUNTAIN VIEW,CA94040     		N/A PUB CHRTY CARE FOR ELDERLY PERSONS 10,000
    SISTERS OF NOTRE DAME DE NAMUR
    1520 RALSTON AVENUE
    BELMONT,CA94002     		N/A PUB CHRTY HEARING AIDS FOR ELDERLY NUNS 13,500
    PATIENTS RIGHTS COUNCIL
    PO BOX 760
    STEUBENVILLE,OH43952     		N/A PUB CHRTY ANTI-EUTHANASIA SERVICES 15,000
    NOTRE DAME HIGH SCHOOL SAN JOSE
    596 SO SECOND STREET
    SAN JOSE,CA95112     		N/A PUB CHRTY TUITION ASSISTANCE 7,500
    CARDINAL FELIX FOUNDATION
    9500 WEST BAY HARBOR DRIVE 4A
    BAY HARBOR ISLAND,FL33154     		N/A PUB CHRTY HURRICANE ERIKA EMERGENCY FUNDS 10,000
    HOME HOPE
    1720 EL CAMINO REAL SUITE 7
    BURLINGAME,CA94010     		N/A PUB CHRTY FAMILY SHELTERING PROGRAM 10,000
    LOAVES AND FISHES
    PO BOX 13495
    SACRAMENTO,CA95813     		N/A PUB CHRTY MEALS FOR THE NEEDY 15,000
    ST VINCENT DE PAUL SOCIETY
    1237 VAN NESS AVENUE SUITE 200
    SAN FRANCISCO,CA94109     		N/A PUB CHRTY DOMESTIC VIOLENCE SERVICES 10,000
    DE MARILLAC ACADEMY
    175 GOLDEN GATE AVENUE
    SAN FRANCISCO,CA94102     		N/A PUB CHRTY SCHOLARSHIP FOR LOW-INCOME FAMILY 10,000
    ST MARTIN DE PORRES SCHOOL
    675 - 41ST STREET
    OAKLAND,CA94609     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    DOROTHY DAY HOUSE
    PO BOX 12701
    BERKELEY,CA94712     		N/A PUB CHRTY MEALS FOR NEEDY PERSONS 10,000
    ST JUAN DIEGO SOCIETY INC
    12 NORTH WHITE ROAD SUITE 5
    SAN JOSE,CA95127     		N/A PUB CHRTY SUPPORTIVE SERVICES FOR PARENTS & CHILDREN 15,000
    POOR CLARE MONASTERY IMMACULATE HEA
    28210 NATOMA ROAD
    LOS ALTOS HILLS,CA94022     		N/A PUB CHRTY NUNS' SUPPORT 5,000
    POOR CLARES OF ST JOSEPH'S MONASTRY
    PO BOX 160
    APTOS,CA95001     		N/A PUB CHRTY NUNS' SUPPORT 5,000
    Total .................................bullet 3a 415,990
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		    14 204  
    4 Dividends and interest from securities....     14 81,497  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 375,572  
    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 80,321  
    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)..   537,594  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13537,594
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID: 15000324
    Software Version: 2015v2.0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 21,165 19,048 0 1,058

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

    TY 2015 DepreciationSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    15000324
    Software Version:
    2015v2.0
    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 Cost of Goods Sold Not Included
    ROOF 2000-10-01 27,370 10,003 SL 39.0000 702 702    
    STORE FRONT 2001-08-23 32,538 11,124 SL 39.0000 834 834    
    STORE INTERIOR RENOVATION 2005-05-26 10,556 9,661 SL 10.0000 895 895    
    STORE INTERIOR RENOVATION 2006-04-19 26,900 22,037 SL 10.0000 2,690 2,690    
    PARTITIONS & ELECTRICAL 2007-07-01 141,496 53,062 SL 20.0000 7,075 7,075    
    BUILDING IMPROVEMENTS 2008-07-01 164,206 27,365 SL 39.0000 4,210 4,210    
    CARPET UNIT #330 2014-11-01 4,500 150 SL 5.0000 900 900    
    PARKING LOT 2015-11-10 87,296   SL 0.83 % 725 725    

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BRISTOL MYERS SQUIBB CO 36,064 68,790
    HENDERSON GLOBAL FDS INTERN'L OPPT CL I 72,130 86,272
    MFS TOTAL RETURN FD CL I 77,573 89,746
    MFS SER TR V INTL NEW DISCOVERY FD CL I 27,592 46,069
    UNITED SECURITY BANCSHARES CALIF 6,261 9,443
    WELLS FARGO COMPANY 915 1,413
    FRONTIER COMMUNICATIONS CORP 109,845 102,740
    GOLDMAN SACHS SMALL CAP VALUE FUND INST 103,858 109,071
    JPMORGAN CHASE & CO 76,613 118,854
    CONOCOPHILLIPS 22,198 18,676
    VISA INC CLASS A 74,052 155,100
    BANK OF AMERICA CORP 51,094 84,150
    EXXON MOBIL CORP 17,517 13,641
    DELAWARE DELCHESTER HIGH CORP BD FD-I 75,637 72,381
    JPMORGAN MID CAP VALUE FUND CL I 44,198 47,966
    SUNSTONE HOTEL INVESTORS INC 55,293 49,960
    WALGREENS BOOTS ALLIANCE INC 55,495 85,155
    EATON VANCE FLOATING RATE FUND CL I 50,000 45,856
    OPPENHEIMER SENIOR FLOATING RATE FD CL Y 73,040 66,146
    VIRTUS EMERGING MARKETS OPPORT FND CL I 156,160 145,286
    CHEVRON CORPORATION 34,142 26,988
    COSTCO WHSL CORP NEW 28,591 32,300
    VENTAS INC 59,763 62,073
    FEDERATED INVT SER FDS INC BD FD INSTL 487,933 447,584
    THORNBURG INC TR LTD TERM INC FD CL I 194,752 190,567
    QWEST CORP 7.5% PFD 50,751 51,320
    AMERICAN TOWER CORP 24,139 24,237
    DISNEY WALT COMPANY 42,542 42,032
    MASTERCARD INC CL A 9,747 9,736
    SBA COMMUNICATIONS CORP 27,677 26,267
    WELLTOWER INC 62,259 68,030
    AMERICAN BEACON FDS BRIDGEWAY LARGECAP 77,720 75,385
    CALVERT IMPACT FD INC SMALL CAP VALUE 78,000 78,994
    FEDERATED EQUITY FDS KAUFMANN LARGE CAP 115,008 115,488
    GOLDMAN SACHS TR SMALL/MID CAP GROWTH 128,000 131,299
    GOLDMAN SACHS TR EMERGING MKTS DEBT FD 125,000 117,554
    TEMPLETON INCOME TR INTL BOND FUND AD CL 149,194 143,732
    BANK OF AMERICA 6.5% PFD SER Y PERP 51,100 53,440

    TY 2015 InvestmentsLandSchedule2
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Buildings 834,574 491,145 343,429 5,716,941
    Land 376,059   376,059 376,059

    TY 2015 OtherAssetsSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SERVICE & KEY DEPOSITS   795 795
    X DATE DIVIDENDS 2,232 2,005 2,005


    TY 2015 OtherExpensesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ATTNY GENERAL'S REGISTRY CHARITABLE TR 75     75
    DUES 500     500
    OFFICE EXPENSE 7,389 739   5,172
    OFFICERS & DIRECTORS LIABILITY INSURANCE 1,975 1,975    
    Rental Expenses 56,565 56,565    


    TY 2015 OtherLiabilitiesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Beginning of Year - Book Value End of Year - Book Value
    SECURITY DEPOSITS 38,217 38,217
    RECLASSIFIED DIVIDENDS-RETURN OF CAPITAL   6,605


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADVISOR FEES ON SECURITIES 33,435 33,435 0 0


    TY 2015 TaxesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN:
    94-6062952
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX ON INVESTMENT INCOME 4,747      
    FOREIGN TAX WITHHELD ON INV INC 127 127    
    FRANCHISE TAX BOARD FILING FEE 10