Form990-PF

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
The White Horse Group Foundation Inc
 
% KRISTINE BARTHOLETTI
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

20-0674318
B Telephone number (see instructions)

(800) 839-1754
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$18,666,190J 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) 2,696,713
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 94 94  
4 Dividends and interest from securities... 198,075 198,075  
5a Gross rents............ 189,333 189,333  
b Net rental income or (loss) 25,479
6a Net gain or (loss) from sale of assets not on line 10 287,750
b Gross sales price for all assets on line 6a 3,864,391
7 Capital gain net income (from Part IV, line 2)... 287,750
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 15,636 15,665 10,000
12 Total. Add lines 1 through 11........ 3,387,601 690,917 10,000
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
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 28,899 1,050 0 27,849
c Other professional fees (attach schedule).... Click to see attachment 142,753 64,327   78,426
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 700      
19 Depreciation (attach schedule) and depletion... Click to see attachment 70,096 70,096  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 24,445 90   24,355
22 Printing and publications.......... 569     569
23 Other expenses (attach schedule)....... Click to see attachment 170,029 136,029   21,661
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 437,491 271,592 0 152,860
25 Contributions, gifts, grants paid....... 28,059 28,059
26 Total expenses and disbursements. Add lines 24 and 25 465,550 271,592 0 180,919
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,922,051
b Net investment income (if negative, enter -0-) 419,325
c Adjusted net income (if negative, enter -0-)... 10,000
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......... 3,620,439 3,394,064 3,394,064
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) bullet500,000
Less: allowance for doubtful accounts bullet   500,000 Click to see attachment500,000 500,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 7,871,347 Click to see attachment10,630,630 10,180,442
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet2,138,603
Less: accumulated depreciation (attach schedule) bullet268,893 1,715,401 Click to see attachment1,869,710 1,869,710
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,015,781 Click to see attachment2,249,584 2,221,974
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment500,000 Click to see attachment500,000 Click to see attachment500,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 16,222,968 19,143,988 18,666,190
Liabilities 17 Accounts payable and accrued expenses.......... 78 397
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 attachment16,282 Click to see attachment14,932
23 Total liabilities (add lines 17 through 22)......... 16,360 15,329
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 16,206,608 19,128,659
30 Total net assets or fund balances (see instructions)..... 16,206,608 19,128,659
31 Total liabilities and net assets/fund balances (see instructions). 16,222,968 19,143,988
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
16,206,608
2
Enter amount from Part I, line 27a .....................
2
2,922,051
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
19,128,659
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
19,128,659
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 Publicly-traded Securities      
b PASSTHROUGH K-1 CAPITAL GAIN      
c
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 3,864,391   3,586,938 277,453
b       10,297
c
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       277,453
b        
c
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 2 287,750
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 674,175 14,267,289 0.047253
2013 159,517 11,189,323 0.014256
2012 198,659 8,028,313 0.024745
2011 786,798 7,145,799 0.110106
2010 607,888 6,468,699 0.093974
2
Total of line 1, column (d) .....................
20.290334
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
0.058067
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
15,922,951
5
Multiply line 4 by line 3......................
5
924,598
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
4,193
7
Add lines 5 and 6........................
7
928,791
8
Enter qualifying distributions from Part XII, line 4.............
8
180,919
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 8,387
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 8,387
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 8,387
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 2,531
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 8,400
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 10,931
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 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 2,544
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet2,544 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
 
 
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)
    bulletDE
    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 addressbullet  
    14
    The books are in care ofbulletKRISTINE BARTHOLETTI Telephone no.bullet (484) 732-8381

    Located atbullet235 WHITEHORSE LANE SUITE 200Kennett SquarePA ZIP+4bullet19348
    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
     
     
    .........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
     
     
    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
    Dorothy Bontrager VP
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    J Michael Bontrager Pres / Dir / Sec
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    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
     
    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
     
    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 CONSTELLATION PROJECT - A CHURCH COLLABORATIVE IN KENNETT SQUARE, PA TO ENHANCE WORLD PEACE, CREATE CONDITIONS FAVORABLE TO SPREAD THE GOSPEL & INCUBATE NEW VENTURES WHERE 80,644
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    10,354,296
    b
    Average of monthly cash balances.......................
    1b
    1,468,448
    c
    Fair market value of all other assets (see instructions)................
    1c
    4,342,688
    d
    Total (add lines 1a, b, and c).........................
    1d
    16,165,432
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    16,165,432
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    242,481
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    15,922,951
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    796,148
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    796,148
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    8,387
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    8,387
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    787,761
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    787,761
    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
    787,761
    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
    180,919
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    180,919
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    180,919
    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 7 787,761
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only.......  
    b Total for prior years:2013, 2012, 2011  
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011...... 406,156
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........ 406,156
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 180,919
    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..... 180,919
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015. 406,156 406,156
    (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 ..........     		200,686
    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
             
    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).)
    Dorothy Bontrager
    J Michael Bontrager
    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.
    NONE
    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
    American Cancer Society
    250 Williams Street NW
    Atlanta,GA303031002     		N/A PC Relay for Life at Messiah 50
    Wheaton College
    501 College Avenue
    Wheaton,IL60187     		N/A PC Annual gift for Wheaton Associates 2,500
    NHS Human Services Foundation
    620 Germantown Pike
    Layfayette Hill,PA194441810     		N/A PC Goals for Giving Hockey Benefit 1,000
    World Vision
    PO Box 9716
    Federal Way,WA98063     		n/a PC General support 1,000
    Trustees of the University of Pennsylvania
    2929 Walnut Street Suite 300
    Philadelphia,PA191045099     		N/A PC Charitable Event 9,500
    The Dressember Foundation
    PO Box 41381
    Los Angeles,CA90041     		N/A PC General support 300
    Together 4 Education
    235 Whitehorse Lane
    Kennett Square,PA19348     		n/a PC Videography Project 3,681
    Willowdale Chapel
    111 Marshall Street
    Kennett Square,PA19348     		n/a PC Coaching 10,028
    Total .................................bullet 3a 28,059
    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 94  
    4 Dividends and interest from securities....     14 198,075  
    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     		    16 25,479  
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 287,750  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue:
    aK-1 Inc/Loss     		525990 -29 14 -4,335  
    bINTEREST INCOME - PRI         10,000
    cINTEREST INCOME - NOTE RECEIVABLE     14 10,000  
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. -29 517,063 10,000
    13Total. Add line 12, columns (b), (d), and (e)..................
    13527,034
    (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.)
    11 See Part IX-B for a description of this program-related investment.
    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
    The White Horse Group Foundation Inc
     
    Employer identification number

    20-0674318
    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
    The White Horse Group Foundation Inc
          		Employer identification number
    20-0674318
    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
     
     

    J Michael Bontrager  
    235 Whitehorse Lane Suite 200
     
    Kennett Square, PA19348

    		$ 2,696,713


    (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
    The White Horse Group Foundation Inc
          		Employer identification number

    20-0674318
    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
    The White Horse Group Foundation Inc
          		Employer identification number

    20-0674318
    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:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING & BOOKKEEPING FEES 28,705 1,050   27,655
    ADMINISTRATIVE SUPPORT 194     194

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

    TY 2015 DepreciationSchedule
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    144 W Cedar-Bldg 2011-04-01 54,754 7,383 SL 27 1,991 1,991 1,991  
    LAND-144 W CEDAR 2011-04-01 29,881   L          
    144 W Cedar-Improv 2011-04-01 52,972 7,146 SL 27 1,927 1,927 1,927  
    144 W Cedar-Furnis 2011-04-01 3,344 2,481 SL 5 669 669 669  
    144 W Cedar-Furnis 2011-04-01 583 434 SL 5 117 117 117  
    144 W Cedar-Floor 2011-04-01 1,203 638 SL 7 172 172 172  
    144 W Cedar-Imp 2011-04-01 4,500 1,113 SL 15 300 300 300  
    200 E Cypress-Bldg 2010-12-03 163,515 24,032 SL 27 5,946 5,946 5,946  
    LAND-200 E CYPRESS 2010-12-03 65,423   L          
    200 E Cypress-Appl 2010-12-03 366 366 SL 5        
    200 E Cypress-Appl 2012-05-09 596 317 SL 5 119 119 119  
    200 E Cypress-Carp 2012-06-11 2,000 739 SL 7 286 286 286  
    200 E Cypress-Door 2012-11-07 138 43 SL 7 20 20 20  
    200 E Cypress-Gas 2012-11-27 1,500 115 SL 27 55 55 55  
    200 E Cypress-Carp 2013-12-20 1,320 189 SL 7 189 189 189  
    200 E Cypress-Appl 2015-06-18 666   SL 5 67 67 67  
    200 E Cypress-Appl 2015-07-24 132   SL 5 11 11 11  
    420 S Broad-Bldg 2011-05-13 65,837 8,678 SL 27 2,394 2,394 2,394  
    420 S Broad-Improv 2011-10-06 1,810 388 SL 15 121 121 121  
    LAND-420 S Broad 2011-05-13 40,963   L          
    422 S Broad-Appli 2011-10-27 543 345 SL 5 109 109 109  
    422 S Broad-Bldg 2011-05-13 65,783 8,671 SL 27 2,392 2,392 2,392  
    422 S Broad-Improv 2011-10-06 1,810 388 SL 15 121 121 121  
    LAND-422 S Broad 2011-05-13 41,017   L          
    428/430 Broad-Bldg 2014-06-05 156,963 3,092 SL 27 5,708 5,708 5,708  
    482/430 Broad-Appl 2015-07-24 143   SL 5 11 11 11  
    Land-428/430 Broad 2014-06-05 61,425   L          
    412 S Broad-Bldg 2015-12-01 158,395   SL 27 480 480 480  
    Land-412 S Broad 2015-12-01 65,069   L          
    525 W State-Bldg 2012-03-01 111,761 11,515 SL 27 4,064 4,064 4,064  
    LAND-525 W STATE 2012-03-01 41,202   L          
    525 W State-Improv 2012-03-01 886,538 91,339 SL 27 32,239 32,239 32,239  
    525 W State-Improv 2012-05-16 1,322 124 SL 27 48 48 48  
    525 W State-Wall 2012-05-23 1,080 101 SL 27 39 39 39  
    525 W State-Trelli 2012-06-04 1,892 178 SL 27 69 69 69  
    525 W State-Applia 2012-03-01 15,864 8,990 SL 5 3,173 3,173 3,173  
    525 W State-Furnis 2012-03-01 26,425 14,974 SL 5 5,285 5,285 5,285  
    525 W State-F&F 2012-06-01 8,660 4,474 SL 5 1,732 1,732 1,732  
    525 W STATE-SCREEN 2012-10-04 1,208 544 SL 5 242 242 242  

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ANGEL OAK MULTI-STRATEGY INCOM 335,000 316,209
    BAIRD SHORT TERM BOND FUND INS 500,000 492,789
    BP CAPITAL TWINLINE MLP FUND C 115,681 82,741
    CENTER COAST MLP FOCUS FD INST 320,135 258,575
    COHO RELATIVE VALUE EQUITY FUN 685,000 703,180
    CREDIT SUISSE FLOATING RATE HI 254,938 241,827
    DAVENPORT EQUITY OPPORTUNITIES 275,000 258,044
    DRIEHAUS ACTIVE INCOME FUND MU 150,000 138,323
    FPA NEW INCOME FUND CLASS A 225,000 218,914
    GOLDMAN SACHS STRATEGIC INC IN 284,979 261,631
    ISHARES CURRENCY HEDGED MSCI E 59,033 59,980
    ISHARES MSCI EAFE SMALL CAP IN 35,620 49,950
    ISHARES RUSSELL 2000 89,888 88,519
    ISHARES S&P 500 INDEX FD 257,642 259,775
    ISHARES TRUST MSCI EAFE INDEX 202,855 188,550
    ISHARES TRUST RUSSELL 1000 GRO 121,964 168,320
    ISHARES TRUST RUSSELL 1000 VAL 101,460 112,833
    LAZARD INTL STRATEGY EQUITY PO 350,000 339,972
    LONGLEAF PARTNERS SMALL CAP FU 255,000 224,923
    MAINGATE MLP FUND CL I 115,653 82,713
    MATTHEWS ASIAN GROWTH & INC FU 525,000 446,179
    MILLER CONVERTIBLE BOND FUND C 553,000 545,342
    MSIF GROWTH PORTFOLIO CLASS IS 168,906 169,174
    OSTERWEIS STRATEGIC INCOME FUN 285,000 258,070
    PARNASSUS EQUITY INCOME FUND I 510,000 479,542
    RIDGEWORTH FDS INSTI US GVT SE 573,715 569,746
    RIDGEWORTH FDS ULTRA SHORT BON 572,744 570,413
    RIVERPARK STRATEGIC INCOME FUN 215,000 195,155
    SELECT SECTOR SPDR ENERGY FUND 75,814 71,781
    SPDR S&P MIDCAP 400 EFT TRUST 114,766 111,524
    THORNBURG LIMITED TERM INCOME 100,000 97,389
    VANGUARD FTSE DEVELOPED MARKET 375,920 355,670
    VANGUARD INTERMEDIATE TERM INV 420,110 404,951
    VANGUARD SHORT-TERM CORPORATE 205,603 204,382
    WHG INCOME OPPORTUNITY FUND 557,000 545,062
    WISDOMTREE JAPAN HEDGED EQUITY 58,660 58,493
    WT WILMINGTON MULTI-MGR LARGE 584,544 549,801

    TY 2015 InvestmentsLandSchedule2
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    144 W Cedar-Bldg 54,754 9,374 45,380  
    LAND-144 W CEDAR 29,881   29,881  
    144 W Cedar-Improv 52,972 9,073 43,899  
    144 W Cedar-Furnis 3,344 3,150 194  
    144 W Cedar-Furnis 583 551 32  
    144 W Cedar-Floor 1,203 810 393  
    144 W Cedar-Imp 4,500 1,413 3,087  
    200 E Cypress-Bldg 163,515 29,978 133,537  
    LAND-200 E CYPRESS 65,423   65,423  
    200 E Cypress-Appl 366 366    
    200 E Cypress-Appl 596 436 160  
    200 E Cypress-Carp 2,000 1,025 975  
    200 E Cypress-Door 138 63 75  
    200 E Cypress-Gas 1,500 170 1,330  
    200 E Cypress-Carp 1,320 378 942  
    200 E Cypress-Appl 666 67 599  
    200 E Cypress-Appl 132 11 121  
    420 S Broad-Bldg 65,837 11,072 54,765  
    420 S Broad-Improv 1,810 509 1,301  
    LAND-420 S Broad 40,963   40,963  
    422 S Broad-Appli 543 454 89  
    422 S Broad-Bldg 65,783 11,063 54,720  
    422 S Broad-Improv 1,810 509 1,301  
    LAND-422 S Broad 41,017   41,017  
    428/430 Broad-Bldg 156,963 8,800 148,163  
    482/430 Broad-Appl 143 11 132  
    Land-428/430 Broad 61,425   61,425  
    412 S Broad-Bldg 158,395 480 157,915  
    Land-412 S Broad 65,069   65,069  
    525 W State-Bldg 111,761 15,579 96,182  
    LAND-525 W STATE 41,202   41,202  
    525 W State-Improv 886,538 123,578 762,960  
    525 W State-Improv 1,322 172 1,150  
    525 W State-Wall 1,080 140 940  
    525 W State-Trelli 1,892 247 1,645  
    525 W State-Applia 15,864 12,163 3,701  
    525 W State-Furnis 26,425 20,259 6,166  
    525 W State-F&F 8,660 6,206 2,454  
    525 W STATE-SCREEN 1,208 786 422  

    TY 2015 InvestmentsOtherSchedule2
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    OSAGE UNIVERSITY PARTNERS II,   153,906 157,760
    SEAMARK FUND LP   685,867 406,698
    US FARMING REALTY TRUST II, LP   954,022 1,076,864
    USFRT KINSTON PARTNERS LP   455,789 580,652

    TY 2015 OtherAssetsSchedule
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PRI LOAN - DEFY VENTURES INC   500,000 500,000


    TY 2015 OtherExpensesSchedule
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 21,500     21,500
    Bank Charges 422 340   82
    K-1 Exp OSAGE UNIVERSITY PARTN 21,114 21,114    
    K-1 Exp SEAMARK FUND LP 33,114 20,842    
    K-1 Exp US FARMING REALTY TRUS 67      
    LICENSES & FEES 1,361 1,361    
    POSTAGE & SHIPPING 54     54
    RENTAL PROPERTY MAINT & MGMT 92,294 92,294    
    SUPPLIES 78 78    
    STATE FILING FEES 25     25


    TY 2015 OtherIncomeSchedule2
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss OSAGE UNIVERSITY PARTNERS II, LP 20 20  
    K-1 Inc/Loss SEAMARK FUND LP 893 562  
    K-1 Inc/Loss US FARMING REALTY TRUST II, LP -10,486 -10,180  
    k-1 Inc/Loss USFRT KINGSTON PARTNERS LP 5,209 5,263  
    Interest Income - PRI 10,000 10,000 10,000
    Interest Income - Note receivable 10,000 10,000  


    TY 2015 OtherLiabilitiesSchedule
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Description Beginning of Year - Book Value End of Year - Book Value
    SECURITY DEPOSITS   14,932


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    TY 2015 OtherNotesLoansRcvblLongSch
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318

    Borrower's Name Relationship to Insider Original Amount of Loan Balance Due Date of Note Maturity Date Repayment Terms Interest Rate Security Provided by Borrower Purpose of Loan Description of Lender Consideration Consideration FMV
    OPPORTUNITY TRANSFORMATION INVESTMENT   500,000 500,000 2013-10 2016-10 PRINCIPAL DUE 10/31/2016, INTEREST PAID QUARTERLY 2 % NONE INVESTMENT CASH 500,000

    TY 2015 OtherProfessionalFeesSchedule
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 64,327 64,327    
    PROJECT MANAGEMENT FEES 69,486     69,486
    PHILANTHROPIC CONSULTING 8,940     8,940


    TY 2015 TaxesSchedule
    Name:
    The White Horse Group Foundation Inc
    EIN:
    20-0674318
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX FOR 2015 700