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
WAITT FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 1397
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NORTH SIOUX CITY, SD57049
A Employer identification number

46-0428166
B Telephone number (see instructions)

(605) 232-9929
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$140,011,593J 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) 2,025,804
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 3,438 3,438  
4 Dividends and interest from securities... 1,643,007 1,642,195  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 4,987,048
b Gross sales price for all assets on line 6a 41,528,194
7 Capital gain net income (from Part IV, line 2)... 4,987,048
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment -188,363 -159,425  
12 Total. Add lines 1 through 11........ 8,470,934 6,473,256  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 204,748 10,237   194,511
14 Other employee salaries and wages...... 174,975 52,493   100,796
15 Pension plans, employee benefits....... 76,588 14,552   61,751
16a Legal fees (attach schedule)......... Click to see attachment 765 0   765
b Accounting fees (attach schedule)....... Click to see attachment 64,855 48,641   7,619
c Other professional fees (attach schedule).... Click to see attachment 421,101 324,640   95,081
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 73,144 2,447   94
19 Depreciation (attach schedule) and depletion... 702 0  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 132,425 0   128,076
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 53,252 1,009   53,161
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,202,555 454,019   641,854
25 Contributions, gifts, grants paid....... 6,673,772 6,673,772
26 Total expenses and disbursements. Add lines 24 and 25 7,876,327 454,019   7,315,626
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 594,607
b Net investment income (if negative, enter -0-) 6,019,237
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 Savings and temporary cash investments......... 5,668,957 1,599,455 1,599,455
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.......... 13,752 13,751 13,751
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 44,112,720 Click to see attachment54,261,443 54,261,443
c Investments—corporate bonds (attach schedule)....... 29,501,002 Click to see attachment23,347,854 23,347,854
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 66,768,720 Click to see attachment60,761,438 60,761,438
14 Land, buildings, and equipment: basis bullet50,620
Less: accumulated depreciation (attach schedule) bullet49,102 2,221 1,518 1,518
15 Other assets (describe bullet) Click to see attachment22,244 Click to see attachment26,134 Click to see attachment26,134
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 146,089,616 140,011,593 140,011,593
Liabilities 17 Accounts payable and accrued expenses.......... 123,654 196,497
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 attachment88 Click to see attachment0
23 Total liabilities (add lines 17 through 22)......... 123,742 196,497
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 145,965,874 139,815,096
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    
30 Total net assets or fund balances (see instructions)..... 145,965,874 139,815,096
31 Total liabilities and net assets/fund balances (see instructions). 146,089,616 140,011,593
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
145,965,874
2
Enter amount from Part I, line 27a .....................
2
594,607
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
9,161
4
Add lines 1, 2, and 3 ..........................
4
146,569,642
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
6,754,546
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
139,815,096
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 AMERIGAS PARTNERS P    
b COLCHESTER P    
c COMPASS DIVERSIFIED P    
d FARALLON CAPITAL P    
e FIDUCIARY TRUST ACCOUNT #7101 - Publicly traded P    
FIDUCIARY TRUST ACCOUNT #7109 - Publicly traded P    
FPA NEW INCOME INC P    
FW VENTURES P    
GREEN SPRING GLOBAL P    
MEMORIAL PRODUCTION PARTNERS P    
PIMCO FDS TOTAL RETURN FD INSTL P    
POMONA CAPITAL P    
QTIMBER P    
SANSAR CAPITAL LTD P    
TRANSMONTAIGNE PARTNERS P    
VIVO VENTURES P    
WHITEHALL P    
EOS PARTNERS P    
BERENS GLOBAL VALUE FUND, LTD P    
PASSPORT OFFSHORE LTD - CLASS A1 II P    
SERIES K SHEPHERD INVESTMENTS INTERNATIONAL, LTD P    
SERIES D POLYGON GLOBAL OPPORTUNITIES FUND P    
SERIES AE FCOI II HOLDINGS, LP P    
SANOFI-AVENTIS SECURITIES LITIGATION SETTLEMENT P    
INTERNAP SECURITIES LITIGATION SETTLMENT P    
PRIVATE EQUITY LITIGATION SETTLEMENT P    
PRIVATE EQUITY LITIGATION SETTLEMENT - BAIN CAPITAL P    
NOVATEL SECURITIES LITIGATION SETTLEMENT P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 342     342
b 32,983     32,983
c 4,163     4,163
d 341,178     341,178
e 14,729,313   7,084,073 7,645,240
2,064,616   1,764,412 300,204
2,500,000   2,757,933 -257,933
    195,819 -195,819
110,036     110,036
801     801
259,155     259,155
18,800     18,800
135,002     135,002
3,008,504   4,000,000 -991,496
    4 -4
6,366     6,366
    686,009 -686,009
271,901   52,896 219,005
5,621,004   4,000,000 1,621,004
3,097,468   2,500,000 597,468
3,631,968   4,300,000 -668,032
2,971,713   5,200,000 -2,228,287
2,718,525   4,000,000 -1,281,475
4,169     4,169
60     60
68     68
17     17
42     42
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       342
b       32,983
c       4,163
d       341,178
e       7,645,240
      300,204
      -257,933
      -195,819
      110,036
      801
      259,155
      18,800
      135,002
      -991,496
      -4
      6,366
      -686,009
      219,005
      1,621,004
      597,468
      -668,032
      -2,228,287
      -1,281,475
      4,169
      60
      68
      17
      42
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 4,987,048
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2014 6,737,080 147,046,063 0.045816
2013 7,016,105 142,444,694 0.049255
2012 6,854,263 137,304,281 0.049920
2011 7,077,481 140,929,600 0.050220
2010 7,147,980 139,710,437 0.051163
2
Total of line 1, column (d) .....................
20.246374
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
0.049275
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
143,017,095
5
Multiply line 4 by line 3......................
5
7,047,167
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
60,192
7
Add lines 5 and 6........................
7
7,107,359
8
Enter qualifying distributions from Part XII, line 4.............
8
7,315,626
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 60,192
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 60,192
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 60,192
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 81,287
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 81,287
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 21,095
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet21,095 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA, SD
    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 addressbulletwww.waittfoundation.org
    14
    The books are in care ofbulletSTAN RAY Telephone no.bullet (605) 232-9929

    Located atbulletPO BOX 1397NORTH SIOUX CITYSD ZIP+4bullet57049
    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
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
    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). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    MARK DICKEY SECRETARY
    2.00     		0 0 0
    801 River Road suite 200
    north Sioux City,SD57049
    THEODORE W WAITT CHAIRMAN/DIRECTOR
    6.00     		0 0 0
    5786 La Jolla Blvd
    LA JOLLA,CA92037
    CINDY WAITT DIRECTOR
    0.50     		0 0 0
    801 River Road suite 200
    North Sioux City,SD57049
    DAVE RUSSELL VICE CHAIRMAN/DIRECTOR
    2.00     		0 0 0
    5786 La Jolla Blvd
    LA JOLLA,CA92037
    shane hartnett DireCTOR
    7.00     		0 0 0
    801 River Road suite 200
    north Sioux City,SD57049
    JACOB JAMES MANAGING DIRECTOR/DIRECTOR
    40.00     		190,025 14,530 192
    5786 La Jolla Blvd
    LA JOLLA,CA92037
    Stan Ray treASURER
    4.00     		0 0 0
    5786 La Jolla Blvd
    LA JOLLA,CA92037
    HAILEY WAITT DIRECTOR
    0.50     		0 0 0
    5786 La Jolla Blvd
    LA JOLLA,CA92037
    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
    CHERIE PROTHRO PROGRAM & OPS DIRECT
    40.00     		135,608 12,022 276
    5786 La Jolla Blvd
    lA JOLLA,CA92037
    Dawn Salvador Senior Accountant
    40.00     		89,346 8,219 101
    5786 La Jolla Blvd
    lA JOLLA,CA92037
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    138,040,619
    b
    Average of monthly cash balances.......................
    1b
    7,140,650
    c
    Fair market value of all other assets (see instructions)................
    1c
    13,751
    d
    Total (add lines 1a, b, and c).........................
    1d
    145,195,020
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    145,195,020
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    2,177,925
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    143,017,095
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    7,150,855
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    7,150,855
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    60,192
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    60,192
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    7,090,663
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    3,281
    5
    Add lines 3 and 4............................
    5
    7,093,944
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    7,093,944
    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
    7,315,626
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    7,315,626
    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
    60,192
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    7,255,434
    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 7,093,944
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 7,279,689
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 7,315,626
    a Applied to 2014, but not more than line 2a 7,279,689
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2015 distributable amount..... 35,937
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		7,058,007
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		0
    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
             
    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).)
    THEODORE W WAITT
    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:
    STAN RAY
    PO BOX 1397
    NORTH SIOUX CITY,SD57049
    (605) 232-9929
    bThe form in which applications should be submitted and information and materials they should include:
    Grant applications must be completed utilizing WF's Preliminary Grant Request via its website waittfoundation.org), after the grant applicant reviews WF's Grant Guidelines and Grantee Requirements also found on it website. An applicant must provide its U.S. tax identification number and must be prepared to provide a current copy of its IRS 501(c)(3) determination letter. Only organizations that have federal non-profit agency tax status can receive financial support from Waitt Foundation.
    cAny submission deadlines:
    Preliminary Grant Requests are accepted year-round via WF's website.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Waitt Foundation limits its grants according to the criteria defined in the Grants Guidelines and Grantee Requirements sections on its website (waittfoundation.org). Its grantees must have programs that are project specific with tangible and measurable results. Priority is given to initiatives addressing WF's core focus, ocean conservation. While WF may make exceptions in special circumstances, it generally does not support programs or organizations that fall outside of its key areas of focus, and does not accept proposals to support individuals, event fundraisers and sponsorships, endowments, or lobbying of any kind. The minimum amount for a WF grant request is $100,000.
    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
    A ROCHA GHANA
    PO BOX KN 3480 10 WAWA STREET
      KOKOMLEMLE  
    GH     		NONE GOV ROC GRANT 10,000
    ALEX'S LEMONADE STAND
    333 EAST LANCASTER AVENUE SUITE 414
    WYNNEWOOD,PA19096     		NONE PC EMPLOYEE MATCH 175
    ALS ASSOCIATION TEXAS CHAPTER
    4939 DE ZAVALA SUITE 105
    SAN ANTONIO,TX78249     		NONE PC EMPLOYEE MATCH 420
    BISCAYNE BAY WATERKEEPER
    1840 CHUCUNANTAH ROAD
    MIAMI,FL33133     		NONE PC ROC GRANT 10,000
    BLACK FISH FOUNDATION (THE)
    DE WITTENSTRAAT 43-45
    NL     		NONE NC ROC GRANT 8,500
    BREN SCHOOL OF ENVIRONMENTAL SCIENCE & MANAGEMENT (UCSB)
    2400 BREN HALL UNIVERSITY OF
    CALIFORNIA
    SANTA BARBARA,CA931065131     		NONE PC OCEAN CONSERVATION 600,000
    CHURCH WORLD SERVICE
    28606 PHILLIPS STREET
    ELKHEART,IN46515     		NONE PC EMPLOYEE MATCH 750
    COSTA HUMBOLDT
    GENERAL SALVO 338
      PROVIDENCIA  
    CI     		NONE NC ROC GRANT 10,000
    CUNY BROOKLYN COLLEGE OFFICE OF RESEARCH AND SPONSORED PROGRAMS
    2900 BEDFORD AVENUE
    BROOKLYN,NY112102889     		NONE PC ROC GRANT 9,840
    DEL MAR SCHOOLS EDUCATION FOUNDATION
    13030 ASHLEY FALLS DRIVE
    SAN DIEGO,CA92130     		NONE PC EMPLOYEE MATCH 1,079
    ECO-LOGIC DEVELOPMENT FUND
    25 MOUNT AUBURN STREET SUITE 203
    CAMBRIDGE,MA02138     		NONE PC ROC GRANT 10,000
    EcoViva
    1904 Franklin Street Suite 902
    OAKLAND,CA94612     		NONE PC ROC GRANT 10,000
    Environmental Awareness Group - Antigua Sea Turtle Project
    LONG STREET
      ST JOHN, ANTIGUA  
    OC     		NONE NC ROC GRANT 9,990
    Environmental Law Institute
    1730 M Street NW Suite 700
    WASHINGTON,DC20036     		NONE PC ROC GRANT 9,881
    Fish Forever RARE INC
    1310 N Courthouse Road Suite 110
    ARLINGTON,VA22201     		NONE PC OCEAN CONSERVATION 500,000
    Food Bank of Siouxland
    PO Box 985
    sioux city,IA51102     		NONE PC EMPLOYEE MATCH 500
    Friends of FM90
    4647 Stone Avenue
    sioux city,IA51106     		NONE PC EMPLOYEE MATCH 500
    Habitat For Humanity International Inc
    1150 Tri View Avenue
    sioux city,IA51103     		NONE PC EMPLOYEE MATCH 200
    Heal the Bay
    1444 9th St
    SANTA MONICA,CA90401     		NONE PC ROC GRANT 5,000
    Her Health Women's Center
    5732 Sunnybrook Drive
    sioux city,IA51106     		NONE PC EMPLOYEE MATCH 200
    Iowa Women Lead Change
    200 First Street SE Suite 2100
    CEDAR RAPIDS,IA52401     		NONE PC EMPLOYEE MATCH 250
    Marine Conservation Institute
    4010 Stone Way N Suite 210
    SEATTLE,WA98103     		NONE PC OCEAN CONSERVATION 150,000
    MEDREACT ONLUS
    VIA URBANA 143
      ROME00184
    IT     		NONE nc ROC GRANT 12,000
    Mental Health Association of Siouxland
    2523 Myrtle Street
    sioux city,IA51103     		NONE PC EMPLOYEE MATCH 1,000
    Meridian Institute
    1800 M Street NW Suite 400N
    WASHINGTON,DC20036     		NONE pc OCEAN CONSERVATION 100,000
    National Geographic Society
    1145 17th Street NW
    WASHINGTON,DC20036     		NONE PC OCEAN CONSERVATION 420,000
    National Marine Mammal Foundation
    2240 Shelter Island Drive Suite 200
    SAN DIEGO,CA92106     		NONE PC OCEAN CONSERVATION 50,000
    New England Aquarium
    Central Wharf
    BOSTON,MA021103399     		NONE PC OCEAN CONSERVATION 25,000
    Norm Waitt Sr YMCA
    601 Riverview Drive
    SOUTH sioux city,NE68776     		NONE PC EMPLOYEE MATCH 450
    Oceana
    1350 Connecticut Avenue NW 5th
    Floor
    WASHINGTON,DC20036     		NONE PC OCEAN CONSERVATION 100,000
    Oceans 5
    6 WEST 48TH STREET 10TH FLOOR
    NEW YORK,NY10036     		NONE PC OCEAN CONSERVATION 1,000,000
    OceansWatch
    316 Clements Road
      MATAPOURI  
    NZ     		NONE NC ROC GRANT 7,500
    Orange County Coastkeeper
    3151 Airway Ave Suite F-110
    COSTA MESA,CA92626     		NONE PC ROC GRANT 10,000
    Paso Pacifico
    872 E Front Street Suite 200
    VENTURA,CA93001     		NONE PC OCEAN CONSERVATION 75,000
    Phoenix Islands Protected Area Conservation Trust
    PO BOX 366
      BIKENIKEU, TARAWA  
    OC     		NONE PC OCEAN CONSERVATION 500,000
    Planned Parenthood of the Pacific Southwest
    1075 Camino del Rio South
    SAN DIEGO,CA92108     		NONE PC EMPLOYEE MATCH 150
    Point Loma Nazarene University
    3900 Lomaland Drive
    SAN DIEGO,CA91206     		NONE PC EMPLOYEE MATCH 100
    Projeto Conservacao Recifal (Reef Conservation Project)
    Rua Manoel Brandao no 192 - Bairro
    CAJUEIRO RECIFE - PERNAMBUCO
    BR     		NONE PC ROC GRANT 5,000
    Reef Check Foundation
    13723 Fiji Way B-2
    MARINA DEL REY,CA90292     		NONE PC ROC GRANT 10,000
    Royal Albania Foundation
    Rr F Xhajko P67/1 Sh2 Ap 20
      TIRANA  
    AL     		NONE PC ROC GRANT 5,000
    Salk Institute
    10010 North Torrey Pines Rd
    LA JOLLA,CA92037     		NONE PC SCIENTIFIC INNOVATION 25,000
    San Diego LGBT Community Center
    PO Box 3357
    SAN DIEGO,CA92163     		NONE PC EMPLOYEE MATCH 100
    SAND COUNTY FOUNDATION TANZANIA
    House 1805 Kidutani Mkunazini
    STONETOWN ZANZIBAR PO BOX 3810
    TZ     		NONE NC ROC GRANT 10,000
    Save The Waves Coalition
    3500 Highway 1
    DAVENPORT,CA95017     		NONE PC ROC GRANT 8,950
    Science Exchange (The)
    4414 1/2 Kansas St
    SAN DIEGO,CA92116     		NONE PC ROC GRANT 9,000
    Sea to Shore Alliance
    4411 Bee Ridge Road 490
    SARASOTA,FL34233     		NONE PC ROC GRANT 9,330
    Shesler Hall
    1308 Nebraska Street
    sioux city,IA51105     		NONE PC EMPLOYEE MATCH 750
    St Michael Catholic Parish
    2637 Homedale Street
    SAN DIEGO,CA92139     		NONE PC EMPLOYEE MATCH 1,300
    The Bahamas Protected Areas Fund
    Temporary Address C/o Permanent
    SECRETARY MINISTRY OF THE ENVIRONME
      NASSAU  
    BF     		NONE NC OCEAN CONSERVATION 100,000
    The Gospel Mission
    500 Bluff Street
    sioux city,IA51103     		NONE PC EMPLOYEE MATCH 200
    The Nature Conservancy
    201 Mission Street 4th Floor
    SAN FRANCISCO,CA94105     		NONE PC OCEAN CONSERVATION 1,000,000
    The Rob Benzon Foundation
    4587 Terrace Drive
    SAN DIEGO,CA92116     		NONE PC EMPLOYEE MATCH 195
    The San Diego Foundation
    2508 Historic Decatur Road Suite
    200
    SAN DIEGO,CA92101     		NONE PC COMMUNITY BUILDING 100,000
    Twin Trails Education Foundation
    8944 Twin Trails Drive
    SAN DIEGO,CA92129     		NONE PC EMPLOYEE MATCH 462
    University of North Carolina at Chapel HILL INSTITUTE OF MARINE SCIENCES
    3431 Arendell Street
    MOREHEAD CITY,NC28557     		NONE PC ROC GRANT 10,000
    University of Southern California MOLECULAR AND COMPUTATIONAL BIOLOGY DEPAR
    USC Dornsife College of Letters
    Arts and Sciences 3454 TROUSDALE PK
    LOS ANGELES,CA90089     		NONE PC OCEAN CONSERVATION 125,000
    Vava'u Environmental Protection Association
    Unit 12 Guttenbeil Plaza
    TN     		NONE NC OCEAN CONSERVATION 100,000
    Virginia Aquarium & Marine Science Center Foundation Inc
    717 General Booth Blvd
    VIRGINIA BEACH,VA23451     		NONE PC ROC GRANT 5,000
    Waitt Institute
    5786 La Jolla Blvd
    LA JOLLA,CA92037     		NONE POF OCEAN CONSERVATION 390,000
    Waitt Institute for Violence Prevention
    801 River Drive Suite 200
    North SIoux city,SD57049     		NONE POF COMMUNITY BUILDING 100,000
    Wildlife Conservation Society
    2300 Southern Boulevard
    BRONX,NY10460     		NONE PC OCEAN CONSERVATION 1,010,000
    Total .................................bullet 3a 6,673,772
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		    14 3,438  
    4 Dividends and interest from securities.... 900099 812 14 1,642,195  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 4,987,048  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue:
    aPartnership - Whitehall     		900099 -24,750 14 16,250  
    bPartnership - Pomona Capital 900099 -7 14 -554  
    cPartnership - Q-Blk Timber 900099 2,039 14 -39,112  
    dPartnership - Compass Diversified Holdings 900099 1,724 14 -4,516  
    ePartnership - UBS TRUMBULL PROPERTY FUND 900099   14 -18,476  
    fPartnership - Amerigas Partners 900099 -3,819 14 0  
    gPartnership - Forward Ventures IV LP 900099   14 -1,623  
    hPartnership - MEMORIAL PRODUCTION PARTNERS LP 900099 4,550 14 -4,200  
    iPartnership - Greenspring Global Partners 900099 -281 14 -55,462  
    jPartnership - Colchester Global Fund 900099   14 64,863  
    kPartnership - Vivo Ventures Fund VII, L.P. 900099   14 -17,955  
    lPartnership - Lazard LTD 900099   14 -1  
    mPartnership - Farallon Capital Institutional Partners, LP 900099   14 1,413  
    nPartnership - Soros Real Estate Investors 900099   14 -2,731  
    oPartnership - Transmontaigne 900099 -3,309 14 -1  
    pPartnership - WILLIAMS PARTNERS 900099 -5,085 14 -7  
    qPARTNERSHIP - BLACKSTONE TACTICAL OPP FUND II-Q 900099   14 -99  
    rPARTNERSHIP - GREENSPRING GLOBAL PARTNERS VII-B 900099   14 -9,215  
    sPARTNERSHIP - VIVO VENTURES FUND VIII 900099   14 -12,557  
    tPARTNERSHIP - WAVE EQUITY FUND 900099   14 -40,177  
    12 Subtotal. Add columns (b), (d), and (e).. -28,126 6,473,256 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    136,445,130
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    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
    WAITT FOUNDATION
     
    Employer identification number

    46-0428166
    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
    WAITT FOUNDATION
          		Employer identification number
    46-0428166
    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
     
     

    THEODORE W WAITT  
    801 River Road suite 200
     
    north Sioux City, SD57049

    		$ 2,025,804


    (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.)
    (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
    WAITT FOUNDATION
          		Employer identification number

    46-0428166
    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
    1
    		 Various Publicly traded securities $ 2,025,804 2015-12-17
    (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
    WAITT FOUNDATION
          		Employer identification number

    46-0428166
    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:  
    Software Version:  

    TY 2015 AccountingFeesSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 64,855 48,641   7,619

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

    TY 2015 ExpenditureResponsibilityStmt
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    COSTA HUMBOLDT
          		GENERAL SALVO 338
    PROVIDENCIA    
    CI     		2015-12-23 10,000 ROC GRANT 10,000 NONE      
    BLACK FISH FOUNDATION (THE)
          		DE WITTENSTRAAT 43-45
    NL     		2015-04-10 8,500 ROC GRANT 8,500 none      
    Environmental Awareness Group - Antigua Sea Turtle Project
          		LONG STREET
    ST JOHNs    
    AC     		2015-06-09 9,990 ROC GRANT 9,990 NONE      
    MEDREACT ONLUS
          		VIA URBANA 143
    ROME    
    IT     		2015-12-23 12,000 ROC GRANT 12,000 NONE      
    OceansWatch
          		316 Clements Road
    MATAPOURI    
    NZ     		2015-07-28 7,500 ROC GRANT 7,500 NONE      
    SAND COUNTY FOUNDATION TANZANIA
          		House 1805 Kidutani Mkunazini
    STONETOWN PO BOX 3810
    zanzibar    
    TZ     		2015-08-20 10,000 ROC GRANT 10,000 NONE      
    The Bahamas Protected Areas Fund
          		MINISTRY OF THE ENVIRONMENT
    Charlotte House
    Nassau    
    BF     		2015-12-23 100,000 OCEAN CONSERVATION 0 NONE      
    Vava'u Environmental Protection Association
          		Unit 12 Guttenbeil Plaza
    TN     		2015-12-23 100,000 OCEAN CONSERVATION 42,834 NONE      

    TY 2015 GeneralExplanationAttachment
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Identifier Return Reference Explanation
      FORM 990-PF, PART VII-B, 1(A)(3) GOODS, SERVICES, OR FACILITIES FURNISHED BY A DISQUALIFIED PERSON:AVALON CAPITAL GROUP, INC PROVIDED ADMINISTRATIVE AND ACCOUNTING SERVICES AND OFFICE SPACE TO THE WAITT FOUNDATION DURING 2015 AT NO CHARGE. AVALON CAPITAL GROUP, INC IS OWNED 100% BY THEODORE W. WAITT, A SUBSTANTIAL CONTRIBUTOR TO THE FOUNDATION. THIS IS AN EXCEPTED ACT OF SELF-DEALING UNDER IRC SECTION 4941(D)(2)(C).
      TANGIBLE PROPERTY REGULATIONS ELECTION STATEMENTS TAXPAYER HEREBY MAKES THE DE MINIMIS SAFE HARBOR ELECTION UNDER TREASURY REGULATION 1.263(A)-1(F) FOR ALL ELIGIBLE AMOUNTS PAID OR INCURRED DURING THE TAXABLE YEAR.TAXPAYER HEREBY ELECTS TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER TREASURY REGULATION 1.263(A)-3(N). THE COSTS WERE INCURRED DURING THE TAXABLE YEAR IN THE ELECTING TAXPAYER'S TRADE OR BUSINESS AND THE ELECTING TAXPAYER TREATS SUCH COSTS AS CAPITAL EXPENDITURES ON ITS BOOKS AND RECORDS.

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Name of Bond End of Year Book Value End of Year Fair Market Value
    FIXED INCOME FUND - First Pacific Advisors 6,561,305 6,561,305
    FIXED INCOME FUND - Colchester Global Bond 3,331,079 3,331,079
    Oaktree Enhanced Income 2,387,526 2,387,526
    Fixed Income Fund - PIMCO 7,511,131 7,511,131
    Fixed Income Fund - eos Partners 0 0
    Fixed Income Fund - greylock Global 3,556,813 3,556,813

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Name of Stock End of Year Book Value End of Year Fair Market Value
    Equities - River Road 7,740,006 7,740,006
    Intl Equity - Harding Loevner Intl 7,552,093 7,552,093
    Intl Equity - IVA Int'l Fund 7,701,856 7,701,856
    Vanguard Windsor II Admiral 6,409,295 6,409,295
    Harbor Capital Appreciation Fund 0 0
    artisan growth opp fund 6,698,237 6,698,237
    Oppenheimer Developing Mkts 2,864,265 2,864,265
    ISHARES CURRENCY HEDGED MSCI 3,412,606 3,412,606
    ISHARES CORE MSCI 817,343 817,343
    DELAWARE POOLED TRUST 10,019,724 10,019,724
    SPDR TRUST SERIES 1 1,046,018 1,046,018

    TY 2015 InvestmentsOtherSchedule2
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    WHITEHALL PARALLEL REAL ESTATE LP FMV 70,108 70,108
    FORWARD VENTURES IV, LP FMV 252,962 252,962
    SOROS REAL ESTATE INVESTORS FMV 30,248 30,248
    POMONA CAPITAL V, LP FMV 149,658 149,658
    berens global value fund ltd FMV 621,295 621,295
    q-BLK real assets lp FMV 1,719,728 1,719,728
    POLYGON GLOBAL OPPORTUNITY FUND FMV 136,658 136,658
    SHEPHERD INVESTMENT INTERNATIONAL, LTD. FMV 27,385 27,385
    OZ ASIA OVERSEAS, LTD. FMV 99,235 99,235
    AVENUE EUROPE FUND FMV 33,730 33,730
    D.E. SHAW COMPOSITE INTERNATIONAL FUND FMV 3,976,313 3,976,313
    T STRATUS FUND, LTD. FMV 50,480 50,480
    TRIAN PARTNERS, LTD. FMV 3,741,323 3,741,323
    PLAINFIELD FUND FMV 0 0
    CRC GLOBAL STRUCTURED CR FUND FMV 2,499,312 2,499,312
    WHITE ELM CAPITAL OFFSHORE FMV 3,638,789 3,638,789
    FARALLON - FCOI II HOLDINGS, L.P. FMV 64,801 64,801
    AKO FUND FMV 3,366,373 3,366,373
    SANSAR CAPITAL, LTD FMV 0 0
    farallon capital FMV 6,180,205 6,180,205
    bay resource partners FMV 3,830,226 3,830,226
    york investment ltd. FMV 4,091,708 4,091,708
    Passport Offshore FMV 1,291 1,291
    Investec Global Commodities & Resources FMV 4,487 4,487
    greenspring FMV 3,053,758 3,053,758
    vivo ventures fund FMV 1,170,825 1,170,825
    Discovery Global Opportunity FMV 3,753,546 3,753,546
    AG Super Fund International, Ltd. FMV 2,935,249 2,935,249
    Kingstown Offshore Ltd FMV 2,865,471 2,865,471
    AG Securitized Asset Recovery FMV 1,107,145 1,107,145
    THE CARAVEL FUND(OFFSHORE) LTD FMV 1,947,681 1,947,681
    Owl Creek Overseas Fund, Ltd FMV 2,527,753 2,527,753
    TACONIC OPP OFFSHORE FUND LTD FMV 2,823,087 2,823,087
    UBS TRUMBULL PROPERTY FMV 1,762,469 1,762,469
    AG CAPITAL RECOVERY VIII FMV 504,957 504,957
    GREENSPRING GLOBAL VII-B FMV 160,510 160,510
    WAVE EQUITY FUND FMV 542,669 542,669
    VIVO CAPITAL VIII FMV 286,435 286,435
    BLACKSTONE TACTICAL OPPS FUND FMV 733,568 733,568

    TY 2015 LegalFeesSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 765 0   765


    TY 2015 OtherAssetsSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    LEASE DEPOSIT 201 68 68
    Due from Waitt Institute 22,043 22,085 22,085
    Due FROM Waitt Institute for Violence prevention   3,981 3,981


    TY 2015 OtherDecreasesSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Description Amount
    UNREALIZED loss ON INVESTMENTS 6,754,546


    TY 2015 OtherExpensesSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMMUNICATIONS 9,682 0   9,738
    INFORMATION TECHNOLOGIES 18,841 0   18,837
    BANK FEES 337 337   0
    INSURANCE 9,657 0   9,657
    OFFICE SUPPLIES 2,687 672   3,710
    OUTSIDE SERVICES 4,189 0   2,989
    POSTAGE 1,829 0   1,774
    SUBSCRIPTIONS 1,873 0   1,885
    PERMITS & LICENSES 200 0   200
    MISCELLANEOUS 402 0   816
    utILITIES 3,555 0   3,555


    TY 2015 OtherIncomeSchedule2
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Partnership - MEMORIAL PRODUCTIONS PARTNERS LP 350 -4,200 350
    Partnership - GREENSPRING GLOBAL PARTNERS -55,743 -55,462 -55,743
    Partnership - COLCHESTER GLOBAL 64,863 64,863 64,863
    Partnershipp - COMPASS DIVERSIFIED HOLDINGS -2,792 -4,516 -2,792
    Partnership - LAZARD -1 -1 -1
    Partnership - FARALLON CAPITAL 1,413 1,413 1,413
    Partnership - POMONA CAPITAL -561 -554 -561
    partnership - Soros -2,731 -2,731 -2,731
    partnership - Whitehall Parallel -8,500 16,250 -8,500
    partnership - Q-BLK TIMBER PORTFOLIO -37,073 -39,112 -37,073
    Partnership - VIVO VENTURES -17,955 -17,955 -17,955
    Partnership - AMERIGAS PARTNERS -3,819 0 -3,819
    Partnership - TRANSMONTAIGNE PARTNERS -3,310 -1 -3,310
    PARTNERSHIP - UBS TRUMBULL -18,476 -18,476 -18,476
    PARTNERSHIP - FORWARD VENTURES IV -1,623 -1,623 -1,623
    PARTNERSHIP - WILLIAMS -5,092 -7 -5,092
    PARTNERSHIP - BLACKSTONE TACTICAL OPP FUND II-Q -99 -99 -99
    PARTNERSHIP - GREENSPRING GLOBAL PARTNERS VII-B -9,215 -9,215 -9,215
    PARTNERSHIP - VIVO VENTURES FUND VIII -12,557 -12,557 -12,557
    PARTNERSHIP - WAVE EQUITY FUND -40,177 -40,177 -40,177
    PARTNERSHIP - BLACKSTONE TACTICAL OPP FUND II -38,222 -38,222 -38,222
    PARTNERSHIP - BLACKSTONE TACTICAL OPP FUND II (CAYMAN) 2,957 2,957 2,957
    Partnership - Whitehall 0 0 -8,500
    Partnership - Pomona Capital 0 0 -561
    Partnership - Q-Blk Timber 0 0 -37,073
    Partnership - Compass Diversified Holdings 0 0 -2,792
    Partnership - UBS TRUMBULL PROPERTY FUND 0 0 -18,476
    Partnership - Amerigas Partners 0 0 -3,819
    Partnership - Forward Ventures IV LP 0 0 -1,623
    Partnership - MEMORIAL PRODUCTION PARTNERS LP 0 0 350
    Partnership - Greenspring Global Partners 0 0 -55,743
    Partnership - Colchester Global Fund 0 0 64,863
    Partnership - Vivo Ventures Fund VII, L.P. 0 0 -17,955
    Partnership - Lazard LTD 0 0 -1
    Partnership - Farallon Capital Institutional Partners, LP 0 0 1,413
    Partnership - Soros Real Estate Investors 0 0 -2,731
    Partnership - Transmontaigne 0 0 -3,310
    Partnership - WILLIAMS PARTNERS 0 0 -5,092
    PARTNERSHIP - BLACKSTONE TACTICAL OPP FUND II-Q 0 0 -99
    PARTNERSHIP - GREENSPRING GLOBAL PARTNERS VII-B 0 0 -9,215
    PARTNERSHIP - VIVO VENTURES FUND VIII 0 0 -12,557
    PARTNERSHIP - WAVE EQUITY FUND 0 0 -40,177
    PARTNERSHIP - BLACKSTONE TACTICAL OPP FUND II 0 0 -38,222
    PARTNERSHIP - BLACKSTONE TACTICAL OPP FUND II (CAYMAN) 0 0 2,957


    TY 2015 OtherIncreasesSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Description Amount
    BOOK TO TAX DIFFERENCES (PARTNERSHIPS) 5,880
    Recoveries of Qualified Distributions 3,281


    TY 2015 OtherLiabilitiesSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Description Beginning of Year - Book Value End of Year - Book Value
    Due to Waitt Institute for Violence prevention 88 0


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 324,640 324,640   0
    Consulting Services - Programs 86,661 0   85,281
    Professional Fees 9,800 0   9,800


    TY 2015 TaxesSchedule
    Name:
    WAITT FOUNDATION
    EIN:
    46-0428166
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    State Filing Fees 94 0   94
    FEDERAL EXCISE TAX 70,603 0   0
    Foreign TAXES 2,447 2,447   0