Form990-PF
Click to see list of attachments

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
GALVESTON FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)2200 MARKET SUITE 804
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
GALVESTON, TX77550
A Employer identification number

74-6163910
B Telephone number (see instructions)

(409) 762-5913
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$1,989,518J 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) 28,300
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 17 17 17
4 Dividends and interest from securities... 26,733 26,733 26,733
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 91,412
b Gross sales price for all assets on line 6a 606,894
7 Capital gain net income (from Part IV, line 2)... 91,412
8 Net short-term capital gain......... 1,752
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 84    
12 Total. Add lines 1 through 11........ 146,546 118,162 28,502
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 6,400   6,400  
c Other professional fees (attach schedule).... Click to see attachment 19,469 19,469    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 1,927 354   1,573
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 595     595
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 292,470     292,470
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 320,861 19,823 6,400 294,638
25 Contributions, gifts, grants paid....... 0 0
26 Total expenses and disbursements. Add lines 24 and 25 320,861 19,823 6,400 294,638
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -174,315
b Net investment income (if negative, enter -0-) 98,339
c Adjusted net income (if negative, enter -0-)... 22,102
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.............   23,813 23,813
2 Savings and temporary cash investments......... 14,392 16,870 16,870
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.......... 667 10,667 667
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,128,253 Click to see attachment964,843 1,096,927
c Investments—corporate bonds (attach schedule)....... 560,446 Click to see attachment513,249 524,662
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 19,971 Click to see attachment19,971 13,363
14 Land, buildings, and equipment: basis bullet313,236
Less: accumulated depreciation (attach schedule) bullet   313,236 Click to see attachment313,236 313,216
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 2,036,965 1,862,649 1,989,518
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment250,003 Click to see attachment250,002
23 Total liabilities (add lines 17 through 22)......... 250,003 250,002
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........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 1,786,962 1,612,647
30 Total net assets or fund balances (see instructions)..... 1,786,962 1,612,647
31 Total liabilities and net assets/fund balances (see instructions). 2,036,965 1,862,649
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
1,786,962
2
Enter amount from Part I, line 27a .....................
2
-174,315
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
1,612,647
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
1,612,647
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 SEE 2015 TAX INFORMATION LETTER PG 17 ATTACHED P 2015-01-01 2015-12-31
b SEE 2015 TAX INFORMATION LETTER PG 17 ATTACHED P 2014-01-01 2015-12-31
c CAPITAL GAIN DISTRIBUTION FROM bANK OF AMERICA TRUST P 2014-01-01 2015-12-31
d
e
(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 179,333   177,581 1,752
b 399,899   337,901 61,998
c 27,662     27,662
d
e
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       1,752
b       61,998
c       27,662
d
e
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 91,412
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 1,752
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 145,640 1,989,444 0.07321
2013 316,440 1,866,700 0.16952
2012 27,148 1,714,716 0.01583
2011 45,988 1,688,278 0.02724
2010 50,361 1,554,617 0.03239
2
Total of line 1, column (d) .....................
20.318190
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
0.063638
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
1,762,059
5
Multiply line 4 by line 3......................
5
112,134
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
983
7
Add lines 5 and 6........................
7
113,117
8
Enter qualifying distributions from Part XII, line 4.............
8
294,638
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 1 983
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........................... 3 983
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- ..... 5 983
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a  
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  
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 23
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 1,006
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   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
     
    No
    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)
    bulletTX
    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
    Yes
     
    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 ofbulletBANK OF AMERICA TRUST DEPT Telephone no.bullet (713) 247-6449

    Located atbullet700 LOUISIANA ST 6TH FLOORHOUSTONTX ZIP+4bullet770022700
    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
    EUGENIA H CAMPBELL VP/TRUSTEE
    1.00     		0    
    4520 CADUCEUS
    GALVESTON,TX77550
    JOHN H CAMPBELL Pres/TRUSTEE
    4.00     		0    
    1210 HARBOR VIEW DR
    GALVESTON,TX77550
    JOHN KELSO Trustee
    1.00     		0    
    12 CEDAR LAWN DR
    GALVESTON,TX77551
    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 HARRIS GARDEN GROUNDS MAINTENANCE 43,464
    2 Burnett Elementary School Project 18,313
    3 Trinity Episcopal Church Project 175,964
    4 South Rosenberge Planting Project 30,600
    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
    1,766,429
    b
    Average of monthly cash balances.......................
    1b
    22,463
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,788,892
    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
    1,788,892
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    26,833
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,762,059
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    88,103
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
     
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    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
     
    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
    294,638
    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
    294,638
    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
    983
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    293,655
    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  
    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......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$  
    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)........     		 
    d Applied to 2015 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2015.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		 
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    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
    22,102 63,562 62,448 67,895 216,007
    b 85% of line 2a ......... 18,787 54,028 53,081 57,711 183,607
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		294,638 146,987 34,893 27,148 503,666
    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 ....     		294,638 146,987 34,893 27,148 503,666
    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...     		58,735 66,314 62,223 57,157 244,429
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Total .................................bullet 3a  
    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 17  
    4 Dividends and interest from securities....     14 26,733  
    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 ............     		        91,412
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue:
    aOTHER INVESTMENT INCOME     		    14 84  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   26,834 91,412
    13Total. Add line 12, columns (b), (d), and (e)..................
    13118,246
    (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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2015
    Name of the organization
    GALVESTON FOUNDATION INC
     
    Employer identification number

    74-6163910
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015) Page 2
    Name of organization
    GALVESTON FOUNDATION INC
          		Employer identification number
    74-6163910
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    TIMOTHY E THOMPSON  
    5728 LEELAND DR
     
    GALVESTON, TX77551

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
     
     

    HARRIS ELIZA KEMPNER FUND  
    2201 MARKET SUITE 601
     
    GALVESTON, TX77550

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
     
     

    EILAND FAMILY CHRISTIAN CHAIR  
    2200 MARKET
     
    GALVESTON, TX77550

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 3
    Name of organization
    GALVESTON FOUNDATION INC
          		Employer identification number

    74-6163910
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 4
    Name of organization
    GALVESTON FOUNDATION INC
          		Employer identification number

    74-6163910
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

    Additional Data


    Software ID: 15000324
    Software Version: 2015v2.0

    TY 2015 AccountingFeesSchedule
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF PREPARATION 6,400 0 6,400 0

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Name of Bond End of Year Book Value End of Year Fair Market Value
    COLUMBIA INTERMED BOND FUND 123,633 128,194
    COLUMBIA SHORT TERM BOND FUND 50,000 49,498
    COLUMBIA INCOME OPPORTUNITIES 15,414 14,523
    CMG ULTRA SHORT TERM BOND FUND 261,000 260,709
    PRUDENTIAL GLOBAL REAL ESTATE 10,166 10,448
    PUBLIC STORAGE INC COM (REIT) 5,027 6,936
    SIMON PPTY GROUP INC NEW 2,523 3,111
    VANGUARD REIT ETF 42,130 47,838
    CROWN CASTLE INTL CORP 1,720 1,729
    ESSEX PPTY TR INC. 1,636 1,676

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMAZON COM INC 2,593 6,759
    BRISTOL MYERS SQUIBB CO 11,913 13,896
    CISCO SYS INC 3,695 5,540
    COLUMBIA DIVIDEND INCOME FUND 12,509 17,017
    COLUMBIA SELECT LARGE CAP GROW 91,749 133,965
    COMCAST CORP 7,566 8,126
    EMC CORP    
    HOME DEPOT INC 5,843 9,654
    ISHARES S&P 500 GROWTH INDEX FUND 20,915 32,308
    J P MORGAN CHASE & CO 6,691 9,905
    LINKEDIN CORP 7,211 8,328
    MCDONALDS CORP 3,000 3,662
    MERCK & CO INC 7,795 8,293
    METLIFE INC    
    MICROSOFT CORP 8,449 15,479
    OCCIDENTAL PETE CORP DEL 4,285 3,110
    PFIZER INC 4,089 7,779
    PHILIP MORRIS INTL INC 6,284 7,824
    PRECISION CASTPARTS CORP    
    PRICELINE COM INC 1,095 6,375
    RAYTHEON CO    
    SCHLUMBERGER LTD 7,816 6,417
    US BANCORP DEL 3,041 3,456
    VISA INC 2,231 7,600
    VMWARE INC    
    WELLS FARGO & CO 4,381 8,969
    COLUMBIA ACORN FUND    
    COLUMBIA MID CAP GROWTH FUND    
    COLUMBIA MID CAP INDEX FUND 25,530 31,607
    COLUMBIA SMAL CAP GROWTH I FUND    
    COLUMBIA SMALL CAP VALUE FUND 24,241 29,427
    HARBOR INTERNATIONAL FUND 34,818 36,139
    ISHARES MSCI EMERGING MKTS INDEX FD 10,650 8,048
    LAZARD EMERGING MKTS EQUITY 29,795 25,929
    ABBVIE INC 1,648 1,599
    ACE LTD SWITZERLAND 4,810 5,726
    ALTRIA GROUP INC 4,760 7,276
    AMERICAN ELEC PWR INC 1,882 2,331
    AMERICAN EXPRESS CO    
    AMGEN INC    
    AUTOMATIC DATA PROCESSING INC 3,045 4,067
    BLACKROCK INC CL A 4,698 5,448
    BOEING CO 3,454 4,627
    CELGENE CORP 4,022 6,587
    CHEVRON CORP    
    CHUBB CORP 2,520 3,847
    CME GROUP INC 4,353 5,074
    CONOCOPHILLIPS    
    DOMINION RES INC VA NEW 1,317 1,488
    DOVER CORP 3,025 2,514
    DU PONT E I DE NEMOURS & CO    
    DUKE ENERGY CORP NEW COM    
    EXXON MOBIL CORP 13,419 11,848
    HONEYWELL INTL INC 6,423 7,561
    INTEL CORP 2,550 3,858
    INTERNATIONAL BUSINESS MACHS    
    JOHNSON & JOHNSON 9,674 10,580
    KIMBERLY CLARK CORP 3,762 5,092
    MACYS INC    
    MARSH & MCLENNAN COS INC 3,912 4,824
    NEXTERA ENERGY INC 2,121 2,597
    PARKER HANNIFIN CORP 1,852 1,746
    PNC FINL SVCS GROUP INC 3,700 4,575
    PRICE T ROWE GROUP INC 2,392 2,145
    PROCTOR & GAMBLE CO 5,185 5,082
    SALESFORCE COM INC    
    SEMPRA ENERGY 1,736 1,880
    SHERWIN WILLIAMS CO 2,748 4,154
    TEXAS INSTRS INC 2,847 4,001
    UNITED PARCEL SVC INC 4,935 5,196
    UNITED TECHNOLOGIES CORP    
    V F CORP 1,372 1,743
    VERIZON COMMUNICATIONS INC 8,006 7,395
    WAL-MART STORES INC 2,122 1,716
    WASTE MGMT INC DEL 1,694 2,135
    CMS ENERGY CORP 1,419 1,804
    FASTENAL CO    
    ISHARES RUSSELL MID-CAP ETF 31,310 32,036
    JOHN HANCOCK FDS III DISCIPLINE 49,330 51,332
    KLA-TENCOR CORP    
    SPLUNK INC 6,167 6,822
    WISCONSIN ENERGY CORP 1,353 1,591
    VANGUARD SMALL-CAP ETF 15,517 16,596
    ARM HLDGS PLC    
    ARTISAN INTERNATIONAL FUND 106,000 101,942
    ROYAL DUTCH SHELL PLC SPONSORED ADR    
    VANGUARD FTSE EMERGING MKTS ETF 20,018 16,355
    ALEXION PHARMACEUTICALS INC 7,759 8,775
    APPLE INC 7,397 9,473
    BIOGEN IDEC INC 7,141 6,740
    CABOT OIL & GAS CORP    
    COGNIZANT TECHNOLOGY SOLUTIONS CL A 5,168 5,882
    COLUMBIA LRG CAP ENHANCD CORE Z 21,245 21,115
    CVS HEALTH CORP 11,240 12,221
    FACEBOOK INC CL A COM 5,784 8,687
    FMC TECHNOLOGIES INC    
    GENERAL ELEC CO 6,795 8,161
    GENERAL MLS INC 4,733 5,132
    HANESBRAND INC    
    ILLUMINA INC 6,425 7,294
    ISHARES S&P 500 VALUE ETF 8,538 8,853
    LOCKHEED MARTIN CORP 5,121 5,646
    MICHEAL KORS HLDGS LTD    
    MONSANTO CO    
    NIKE INC 4,907 6,375
    PHARMACYCLICS INC    
    TRACTOR SUPPLY CO    
    TWITTER INC    
    VERTEX PHARMACEUTICALS INC 5,925 8,305
    CDK GLOBAL INC    
    HALYARD HEALTH INC    
    BP P L C    
    ISHARES MSCI EAFE ETF 9,593 8,808
    MERCADOLIBRE INC 6,273 6,174
    ROCHE HLDG LTD SPONSORED ADR SWITZER    
    ALIBABA GROUP HLDG LTD ADS CAYMAN ISL 4,649 5,445
    BAIDU INC SPONSORED ADR REPSTG ORD SH    
    TESLA MTRS INC 4,906 4,800
    ACTIVISION BLIZZARD INC. 3,428 3,523
    ACUITY BRANDS INC. 4,632 5,144
    ADOBE SYS INC. 6,199 7,233
    EASTMAN 2,475 2,025
    EVERSOURCE 2,016 2,094
    GENERAL DYNAMICS CORP 5,274 4,808
    GENUINE PARTS CO 2,078 1,975
    GILEAD SCIENCES INC. 4,751 4,857
    INTERCONTINENTAL EXCHANGE INC. 4,783 5,125
    MONSTER BEVERAGE GROUP 6,601 7,299
    PEPSICO INC. 5,070 5,296
    PG&E CORP 2,525 2,340
    TIME WARNER INC 4,671 3,557
    TJX COS INC NEW 2,045 2,056
    VALERO ENERGY CORP NEW 3,235 3,182
    DEXOM INC. COM 4,442 3,849
    FITBIT INC. 6,190 4,971
    NORTHERN TR CORP 3,976 3,893
    SERVICENOW INC. 6,076 6,925
    SKYWORKS SOLUTIONS INC. 3,927 3,534
    INTERCEPT PHARMACEUTICALS INC. 7,971 5,377
    DB X-TRACKERS MSCI EAFE HEDGED 9,200 8,148
    LYONDELLBASELL INDUSTRIES NV 1,718 1,738
    MEDTRONIC 2,539 2,538
    MOBILEYE NV 8,869 8,118
    NOVO-NORDISK A S 5,401 5,634
    ISHARES MSCI INDIA ETF 11,869 11,000

    TY 2015 InvestmentsOtherSchedule2
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CREDIT SUISSE COMMODITY-RETURN FMV 19,971 13,363

    TY 2015 LandEtcSchedule2
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Land 313,236   313,236 313,216


    TY 2015 OtherExpensesSchedule
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    16TH STREET PROJECT 1,406     1,406
    BURNET SCHOOL PROJECT 5,600     5,600
    CEDAR LAWN PROJECT 18,313     18,313
    HARRIS GARDENS EXPANSION 33,113     33,113
    HARRIS GARDENS GROUNDS MAINTENENCE 10,352     10,352
    HARRIS TREE NURSERY FARM 2,665     2,665
    HENDLEY GREEN PROJECT 10,000     10,000
    INSURANCE 4,317     4,317
    MISCELLANEOUS 90     90
    O'CONNELL PROJECT 50     50
    SOUTH ROSENBERG PLANTING PROJECT 30,600     30,600
    TRINITY SCHOOL PROJECT 175,964     175,964


    TY 2015 OtherIncomeSchedule2
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INVESTMENT INCOME 84    


    TY 2015 OtherLiabilitiesSchedule
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Beginning of Year - Book Value End of Year - Book Value
    HARRIS GARDEN SET-ASIDE PAYABLE 250,000 250,000
    Rounding 3 2


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank of America Agency Fee 19,469 19,469 0 0


    TY 2015 TaxesSchedule
    Name:
    GALVESTON FOUNDATION INC
    EIN:
    74-6163910
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 354 354    
    PROPERTY TAXES 1,573     1,573