TY 2014 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0052

2014

Open to Public Inspection

For calendar year 2014, or tax year beginning 2014, and ending , 20

Name of foundation
VICTOR W KRAMER CHARITABLE TRUST

Number and street (or P.O. box number if mail is not delivered to street address)1525 W WT HARRIS BLVD D1114-044 Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CHARLOTTE, NC28262

A Employer identification number

27-6739649

B Telephone number (see instructions)

(855) 739-2922

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$11,678,021J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............	32,000
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	272,327		270,657
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		80,344
b	Gross sales price for all assets on line 6a 2,613,730
7	Capital gain net income (from Part IV, line 2)...			80,344
8	Net short-term capital gain.........				0
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).......		10,314	10,314
12	Total. Add lines 1 through 11........	394,985		361,315
13	Compensation of officers, directors, trustees, etc.	98,537		73,903		24,634
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		15,817	4,202		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		413	413
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	114,767		78,518	0	24,634
25	Contributions, gifts, grants paid........	584,997				584,997
26	Total expenses and disbursements. Add lines 24 and 25	699,764		78,518	0	609,631
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-304,779
b	Net investment income (if negative, enter -0-)			282,797
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2014)

Form 990-PF (2014)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	617,609	306,109	307,283
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	1,383,123	1,532,306	1,535,017
	b	Investments—corporate stock (attach schedule)........	5,323,178	5,225,231	6,577,504
	c	Investments—corporate bonds (attach schedule)........	2,252,748	2,247,435	2,218,450
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	1,100,000	1,100,000	1,039,767
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	10,676,658	10,411,081	11,678,021
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	10,676,658	10,411,081
	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)......	10,676,658	10,411,081
	31	Total liabilities and net assets/fund balances (see instructions)..	10,676,658	10,411,081

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	10,676,658
2	Enter amount from Part I, line 27a.....................	2	-304,779
3	Other increases not included in line 2 (itemize)	3	44,015
4	Add lines 1, 2, and 3..........................	4	10,415,894
5	Decreases not included in line 2 (itemize)	5	4,813
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	10,411,081

Form 990-PF (2014)

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	850. AMERICAN EXPRESS CO COM		2011-08-10	2015-02-18
b	185. COLGATE-PALMOLIVE CO COM		2010-12-10	2014-12-03
c	126. COLGATE-PALMOLIVE CO COM		2010-12-10	2015-04-20
d	200000. EMC CORP 2.650% 6/01/20		2015-01-29	2015-10-14
e	200000. FED FARM CREDIT BK 2.450% 8/05/20		2014-05-13	2014-12-08
	200000. FED FARM CREDIT BK 2.890% 10/20/22		2014-11-04	2015-01-26
	200000. FED HOME LN MTG CORP 2.020% 9/24/19		2014-12-22	2015-03-24
	277. GEOSPACE TECHNOLOGIES CORP		2013-06-28	2014-12-29
	42. GEOSPACE TECHNOLOGIES CORP		2013-06-27	2014-12-30
	13. GEOSPACE TECHNOLOGIES CORP		2014-11-26	2014-12-30
	338. GEOSPACE TECHNOLOGIES CORP		2014-11-26	2015-10-09
	.4694 GOOGLE INC-CL C		2014-07-25	2015-05-06
	22. ISHARES 1-3 YEAR TREASURY BOND		2013-01-20	2014-11-26
	89. ISHARES 1-3 YEAR TREASURY BOND		2014-11-17	2014-11-26
	104. ISHARES 1-3 YEAR TREASURY BOND		2015-07-28	2015-10-29
	449. ISHARES MSCI ALL COUNTRY ASIA		2011-03-17	2015-01-22
	4444. JP MORGAN ALERIAN MLP INDEX EXCHANGE TRADED NOTE		2013-04-30	2015-08-31
	201. MATTEL INC COM W/RIGHTS ATTACHED EXP 2/17/2002		2013-06-11	2014-11-13
	120. MCDONALDS CORP COM		2012-11-15	2015-09-23
	530. MCDONALDS CORP COM		2011-08-10	2015-09-23
	103. MEDNAX INC		2012-07-17	2015-07-28
	140. MEDNAX INC		2011-12-30	2015-07-28
	31. METTLER-TOLEDO INTL INC COM		2012-07-17	2014-11-17
	65. METTLER-TOLEDO INTL INC COM		2011-12-30	2014-11-17
	131. NIKE INC CL B COM		2011-08-03	2015-05-21
	.718 ORBITAL ATK INC		2010-09-29	2015-02-19
	95. PAYCHEX INC COM		2012-11-15	2014-12-03
	125. PAYCHEX INC COM		2011-12-30	2014-12-03
	80. PETSMART INC COM W/RTS ATTACHED EXP 08/2		2014-05-27	2014-12-12
	570. PETSMART INC COM W/RTS ATTACHED EXP 08/2		2013-09-11	2014-12-12
	448. PETSMART INC COM W/RTS ATTACHED EXP 08/2		2014-05-27	2014-12-15
	660. SECTO SPDR TRUST (ENERGY) SHARES OF BENEFICIAL INTEREST		2011-06-13	2014-12-01
	598. SECTO SPDR TRUST (ENERGY) SHARES OF BENEFICIAL INTEREST		2013-04-30	2014-12-01
	1337. STAPLES INC COM W/INVISIBLE RTS TO PUR SHS UNDER CERTAIN		2012-09-10	2014-11-19
	803. STARWOOD HOTELS & RESORTS WORLDWIDE		2011-08-15	2015-02-09
	2047. TELEFONICA SA ADR RIGHTS DE 4/30/15		2014-01-03	2015-04-20
	87. 3M CO COM		2010-11-24	2014-12-03
	6945. ETRACS ALERIAN MLP UBS AG LDN BR ETN		2015-08-31	2015-10-14
	215. UNILEVER PLC SPONSORED ADR NEW		2013-12-02	2015-04-20
	2984. VANGUARD SHORT TERM BOND ETF		2013-05-08	2014-12-01
	3121. VANGUARD SHORT TERM BOND ETF		2013-05-08	2015-09-01
	3107. VANGUARD SHORT TERM BOND ETF		2014-01-13	2015-10-05
	3. VODAFONE GROUP PLC-SP ADR		2012-11-15	2015-05-26
	291. VODAFONE GROUP PLC-SP ADR		2014-05-28	2015-05-26
	150. WAL MART STORES INC COM		2011-02-23	2014-12-03
	63. WAL MART STORES INC COM		2011-02-23	2015-04-20
	30000. YAVAPAI CNTY ARIZ UN 4.000% 7/01/15		2010-08-06	2015-07-01
	113. ZEBRA TECHNOLOGIES CORP CL A COM		2012-07-17	2015-03-11
	644. RECKITT BENCKISER PLC GBP		2011-08-11	2014-11-03
	14. RECKITT BENCKISER PLC GBP		2012-07-17	2014-11-03
	3722. TESCO PLC 5P		2011-08-11	2014-11-03
	1527. TESCO PLC 5P		2012-07-17	2014-11-03
	5701. TESCO PLC 5P		2014-01-06	2014-11-03
	1215. KOMATSU JPY 50.0		2011-08-11	2014-11-04
	991. INDIVIOR PLC ORD NPV		2011-08-11	2015-01-07
	140. INDIVIOR PLC ORD NPV		2012-01-03	2015-01-07
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	67,608	37,447	30,161
b	12,750	7,237	5,513
c	8,638	4,929	3,709
d	177,444	204,488	-27,044
e	200,000	200,000
	200,000	199,740	260
	200,000	200,000
	7,624	21,760	-14,136
	1,161	2,876	-1,715
	359	367	-8
	5,180	9,531	-4,351
	261	277	-16
	1,864	1,864
	7,541	7,537	4
	8,822	8,823	-1
	28,692	25,530	3,162
	159,932	183,162	-23,230
	6,258	8,995	-2,737
	11,692	11,087	605
	51,641	41,112	10,529
	8,216	3,683	4,533
	11,168	4,922	6,246
	9,035	4,699	4,336
	18,944	8,406	10,538
	13,694	5,630	8,064
	48	24	24
	4,497	3,005	1,492
	5,918	3,773	2,145
	6,251	4,446	1,805
	44,539	41,522	3,017
	36,314	24,898	11,416
	52,079	47,665	4,414
	47,187	45,119	2,068
	18,613	15,167	3,446
	56,977	36,396	20,581
	326		326
	14,107	7,342	6,765
	146,442	158,438	-11,996
	9,606	8,614	992
	239,908	241,666	-1,758
	249,907	252,761	-2,854
	249,794	249,724	70
	116	139	-23
	11,218	10,205	1,013
	12,712	8,003	4,709
	4,938	3,357	1,581
	30,000	30,000
	9,858	3,851	6,007
	53,152	34,843	18,309
	1,155	776	379
	10,288	23,010	-12,722
	4,221	7,619	-3,398
	15,758	31,105	-15,347
	29,229	34,395	-5,166
	2,211	1,242	969
	312	179	133
			27,525

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			30,161
b			5,513
c			3,709
d			-27,044
e
			260

			-14,136
			-1,715
			-8
			-4,351
			-16

			4
			-1
			3,162
			-23,230
			-2,737
			605
			10,529
			4,533
			6,246
			4,336
			10,538
			8,064
			24
			1,492
			2,145
			1,805
			3,017
			11,416
			4,414
			2,068
			3,446
			20,581
			326
			6,765
			-11,996
			992
			-1,758
			-2,854
			70
			-23
			1,013
			4,709
			1,581

			6,007
			18,309
			379
			-12,722
			-3,398
			-15,347
			-5,166
			969
			133

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	80,344
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . . . .		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2013	575,782	12,100,000	0.047585
2012	544,436	11,158,835	0.04879
2011	567,838	9,989,825	0.056842
2010	587,580	10,305,821	0.057014
2009	7,849	10,706,760	0.000733

2	Total of line 1, column (d) ......................	2	0.210964
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	0.042193
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	11,725,981
5	Multiply line 4 by line 3.......................	5	494,754
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	2,828
7	Add lines 5 and 6.........................	7	497,582
8	Enter qualifying distributions from Part XII, line 4..............	8	609,631
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 (2014)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	2,828
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	2,828
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	2,828
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	7,196
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	7,196
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	4,368
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax2,828	Refunded	11	1,540

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?

If "Yes," complete Part XIV.............................

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Yes

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

WELLS FARGO BANK NA Telephone no. bullet

(855) 739-2922

Located at bullet

1 W 4TH STREET D4000-062WINSTONSALEMNC ZIP+4 bullet

271013818

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

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

16 At any time during calendar year 2014, 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

Form 990-PF (2014)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

that were not corrected before the first day of the tax year beginning in 2014?.............

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

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

At the end of tax year 2014, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2014?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2014 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 2014.)....................

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

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

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2014)

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
WELLS FARGO BANK NA	TRUSTEE 4	98,537
1525 W WT HARRIS BLVD D1114-044 CHARLOTTE,NC28288	TRUSTEE 4	98,537

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

Form 990-PF (2014)

Page 8

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

Part X

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

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

purposes:

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

11,493,196

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

411,353

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

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

11,904,549

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

11,904,549

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

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

178,568

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

11,725,981

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

586,299

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

586,299

Tax on investment income for 2014 from Part VI, line 5......

2,828

Income tax for 2014. (This does not include the tax from Part VI.)...

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

2,828

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

583,471

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

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

583,471

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

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

583,471

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

609,631

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

609,631

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

2,828

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

606,803

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 (2014)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2013	(c) 2013	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7					583,471
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......				416
b Total for prior years:2012, 20, 20			0
3 Excess distributions carryover, if any, to 2014:
a From 2009.......	0
b From 2010.......	0
c From 2011.......	0
d From 2012.......	0
e From 2013.......	0
fTotal of lines 3a through e.........		0
4Qualifying distributions for 2014 from Part
XII, line 4: $ 609,631
a Applied to 2013, but not more than line 2a					416
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 2014 distributable amount.....					583,471
e Remaining amount distributed out of corpus		25,744
5 Excess distributions carryover applied to 2014.		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		25,744
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 2013. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2014. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8Excess distributions carryover from 2009 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......		25,744
10 Analysis of line 9:
a Excess from 2010....	0
b Excess from 2011....	0
c Excess from 2012....	0
d Excess from 2013....	0
e Excess from 2014....	25,744

Form 990-PF (2014)

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 2014, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2014	(b) 2013	(c) 2012	(d) 2011	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ...........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or 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 (2014)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
ST MARY'S FOOD BANK 2831 N 31ST AVE PHOENIX,AZ85009	NONE	PC	GENERAL SUPPORT	25,435
ST MARY'S ROMAN CATHOLIC BASILICA 231 NORTH 3RD STREET PHOENIX,AZ85004	NONE	PC	GENERAL SUPPORT	203,478
PHI DELTA THETA FRATERNITY 2 SOUTH CAMPUS AVENUE OXFORD,OH45056	NONE	PC	GENERAL SUPPORT	38,152
THE NATURE CONSERVANCY 4245 N FAIRFAX DR STE 100 ARLINGTON,VA222031606	NONE	PC	GENERAL SUPPORT	12,717
DIOCESAN COUNCIL FOR THE SOCIETY OF ST VINCENT DE PAUL 420 W WATKINS RD PHOENIX,AZ85003	NONE	PC	GENERAL SUPPORT	12,717
ROMAN CATHOLIC DIOCESE PHOENIX 400 E MONROE ST PHOENIX,AZ85004	NONE	PC	GENERAL SUPPORT	203,478
ARIZONA SCIENCE CENTER 600 EAST WASHINGTON STREET PHOENIX,AZ85004	NONE	PC	GENERAL SUPPORT	12,717
ARIZONA HISTORICAL SOCIETY 949 E 2ND ST TUCSON,AZ85719	NONE	PC	GENERAL SUPPORT	12,717
ARIZONA STATE UNIV FOUNDATION 300 E UNIVERSITY DRIVE 6TH FLOOR TEMPE,AZ85281	NONE	PC	GENERAL SUPPORT	12,717
SALVATION ARMY 180 E OCEAN BLVD GSD 9TH FL LONG BEACH,CA90802	NONE	PC	GENERAL SUPPORT	12,717
SANTA CLARA UNIVERSITY 500 EL CAMINO REAL SANTA CLARA,CA95053	NONE	PC	GENERAL SUPPORT	25,435
BRONCO BENCH FOUNDATION 500 EL CAMINO REAL SANTA CLARA,CA95053	NONE	PC	GENERAL SUPPORT	12,717
Total ................................. 3a				584,997

bApproved for future payment

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

Form 990-PF (2014)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ............
4 Dividends and interest from securities....			14	272,327
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	80,344
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aMUTUAL FUND INCOME			14	10,314
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				362,985

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

13362,985

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2014)

Page 13

Part XVII

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

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

Yes

organizations?

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Name of the organization

VICTOR W KRAMER CHARITABLE TRUST

Employer identification number

27-6739649

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

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

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or
property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... 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) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 2

Name of organization VICTOR W KRAMER CHARITABLE TRUST

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	VICTOR W KRAMER 708 N 7TH STREET PHOENIX, AZ85008	$32,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 3

Name of organization VICTOR W KRAMER CHARITABLE TRUST

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) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 4

Name of organization
VICTOR W KRAMER CHARITABLE TRUST

Employer identification number

27-6739649

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

(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

(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

(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

(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) (2014)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2014 InvestmentsCorpBondsSchedule

Name:

VICTOR W KRAMER CHARITABLE TRUST

EIN: 27-6739649

Name of Bond	End of Year Book Value	End of Year Fair Market Value
FED HOME LN MTG CORP 12/28/15
ISHARES BARCLAYS 1-3 YR TREAS
SPDR BARCLAYS CAP 1-3 MO TBILL
SPDR BARCLAYS CONVERTIBLE SECU
GENERAL ELEC CAP COR 9/16/20
VANGUARD SHORT TERM BOND ETF
VR FED NATL MTG ASSN 11/21/16
084664BS9 BERKSHIRE HATHAWAY	202,000	202,036
36962G4R2 GENERAL ELEC CAP COR
464287457 ISHARES 1-3 YEAR TRE	54,385	54,546
89114QAK4 TORONTO-DOMINION BAN	199,580	201,520
921937827 VANGUARD SHORT TERM	144,696	144,913
05565QBZ0 BP CAPITAL MARKETS	200,792	202,760
68389XBA2 ORACLE CORP	199,736	203,268
77958B402 T ROWE PRICE INST FL	240,000	231,604
880208400 TEMPLETON GLOBAL BON	300,186	269,180
02665WAZ4 AMERICAN HONDA FINAN	202,022	201,690
064159FL5 BANK OF NOVA SCOTIA	252,773	250,355
913017BV0 UNITED TECHNOLOGIES	251,265	256,578

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

VICTOR W KRAMER CHARITABLE TRUST

EIN: 27-6739649

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABB LTD - ADR
ABBOTT LABS
ACCENTURE PLC
AFLAC INC
ALEXANDER & BALDWIN INC
AMERICAN EXPRESS CO
AMEX ENERGY SELECT SPDR
AMEX MATERIALS SPDR
AMEX UTILITIES SPDR
AMPHENOL CORP CL A
ANSYS INC
APACHE CORP
APPLE INC
ARBITRON INC
BAXTER INTL INC
BERKSHIRE HATHAWAY INC
BHP BILLITON LIMITED
BIG LOTS INC
BLACKROCK INC
C H ROBINSON WORLDWIDE INC
CAPITAL ONE FINANCIAL CORP
CHEVRON CORP
CNOOC - CHINA NATL OFFSHOR
COLGATE PALMOLIVE CO
CSX CORP
DENTSPLY INTL INC
DIAGEO PLC
EBIX INC
EDISON INTL
ENERGIZER HOLDINGS INC
FISERV INC
FMC TECHNOLOGIES INC
GLOBAL PMTS INC
GOLDMAN SACHS GROUP
GRACO INC
HARTE-HANKS COMMUNICATIONS
HEINZ H J CO
HONDA MOTOR CO LTD
HSBC ADR
ILLINOIS TOOL WORKS INC
INTERCONTINENTAL EXCHANGE INC
ISHARES DOW JONES SEL DIV FD
ISHARES GOLD TRUST
ISHARES MSCI EAFE
ISHARES MSCI EX-JAPAN IN FD
JOHNSON & JOHNSON
KOMATSU JPY 50.0
LABORATORY CRP OF AMER
LEUCADIA NATL CORP
MARKEL HOLDINGS
MCDONALDS CORP
MDKESSON CORP
MEDNAX INC
METTLER-TOLEDO INTL
MICROSOFT CORP
MOLSON COORS BREWING CO
MORNINGSTAR INC
NATIONAL PRESTO INDS
NESTLE S.A. REG SHS
NEUSTAR INC
NEUTRAL TANDEM INC
NIKE INC
NORDSTROM INC
NORTHROP GRUMMAN CORP
OCEANEERING INTL INC
ORBITAL SCIENCES CORP
PAYCHEX INC
PEPSICO INC
PERRIGO CO
PNC FINANCIAL SERVICES
PRECISION CASTPARTS CORP
QUALCOMM INC
RECKITT BENCKISER PLC
REPUBLIC SERVICES INC
ROCK-TENN CO
SAP AG - ADR
SCHLUMBERGER LTD
SPDR S & P 500 ETF TRUST
STAPLES INC
STARWOOD HOTELS & RESORTS
STEEL DYNAMICS INC
STERICYCLE INC
TAIWAN SEMICONDUCTOR MFG
TCF FINANCIAL
TELEFONICA SA - ADR
TESCO PLC
TEXAS INSTRUMENTS INC
THERMO FISHER SCIENTIFIC INC
TRANSOCEAN LTD
UGI CORP
UNITED TECHNOLOGIES CORP
V F CORP
VANGUARD MSCI EMERG MKTS ETF
VCA ANTECH INC
VODAFONE GROUP PLC
WAL MART STORES INC
WASTE MANAGEMENT INC
WILEY JOHN & SONS INC
WISDOMTREE JAPAN HEDGED
WRIGHT EXPRESS CORP
ZEBRA TECHNOLOGIES CORP
3M CO
ALLISON TRANSMISSION HOLDINGS
CLOUD PEAK ENERGY INC
GENTEX CORP
JP MORGAN ALERIAN MLP INDEX
JP MORGAN CHASE & CO
OIL STATES INTERNATIONAL INC
SPECTRUM BRANDS HOLDINGS INC
SPDR DJ WILSHIRE INTERNATIONAL
TRANSDIGM GROUP INC
WEX INC
000375204 ABB LTD - ADR	32,463	32,455
001055102 AFLAC INC	45,757	67,065
002824100 ABBOTT LABS	61,607	95,782
003021714 ABERDEEN EMERG MARKE	287,280	218,226
009128307 AIR METHODS CORP COM	25,603	25,213
01973R101 ALLISON TRANSMISSION	20,686	29,274
025816109 AMERICAN EXPRESS CO
032095101 AMPHENOL CORP CL A	68,427	146,394
037411105 APACHE CORP	56,868	27,995
037833100 APPLE INC	57,419	140,532
071813109 BAXTER INTL INC	26,010	34,735
084670702 BERKSHIRE HATHAWAY I	62,539	107,864
088606108 BHP BILLITON LIMITED	48,417	22,694
09247X101 BLACKROCK INC	35,961	81,657
126408103 CSX CORP	38,703	52,469
14040H105 CAPITAL ONE FINANCIA	63,378	88,763
166764100 CHEVRON CORP	45,107	48,348
189754104 COACH INC
194162103 COLGATE PALMOLIVE CO	23,195	39,744
23636T100 DANONE ADR	29,582	27,322
249030107 DENTSPLY INTL INC CO	19,209	33,468
25243Q205 DIAGEO PLC - ADR	58,577	95,171
278715206 EBIX, INC.
30249U101 FMC TECHNOLOGIES INC	48,363	40,495
36191G107 GNC HOLDINGS INC	31,307	23,354
371901109 GENTEX CORP	26,127	47,531
37253A103 GENTHERM INC	12,468	33,675
37364X109 GEOSPACE TECHNOLOGIE
375558103 GILEAD SCIENCES INC	61,514	131,702
37940X102 GLOBAL PMTS INC W/I	17,638	56,474
38141G104 GOLDMAN SACHS GROUP	57,705	86,063
384109104 GRACO INC	13,430	28,626
404280406 HSBC - ADR	46,517	41,844
452308109 ILLINOIS TOOL WORKS	42,882	78,976
45865V100 INTERCONTINENTALEXCH
46269C102 IRIDIUM COMMUNICATIO	27,180	32,602
464287168 ISHARES SELECT DIVID	50,986	50,888
464287465 ISHARES MSCI EAFE ET
464288182 ISHARES MSCI ALL COU	26,002	27,963
46625H100 JPMORGAN CHASE & CO	29,999	57,568
46625H365 JP MORGAN ALERIAN ML
478160104 JOHNSON & JOHNSON
570535104 MARKEL HOLDINGS
576323109 MASTEC INC COM	31,135	21,717
577081102 MATTEL INC	45,974	28,660
580135101 MCDONALDS CORP
58155Q103 MCKESSON CORP	30,566	78,493
58502B106 MEDNAX INC	14,052	33,896
592688105 METTLER-TOLEDO INTL
594918104 MICROSOFT CORP	40,860	82,908
617700109 MORNINGSTAR INC
641069406 NESTLE S.A. REGISTER	72,888	109,147
64126X201 NEUSTAR INC	33,805	34,858
654106103 NIKE INC CL B	24,641	84,383
655664100 NORDSTROM INC	52,909	74,992
678026105 OIL STATES INTERNATI	19,830	15,245
685564106 ORBITAL SCIENCES COR
693475105 PNC FINANCIAL SERVIC	41,151	63,814
704326107 PAYCHEX INC	17,762	32,753
713448108 PEPSICO INC	49,176	75,416
716768106 PETSMART INC COM
740189105 PRECISION CASTPARTS	48,920	80,322
747525103 QUALCOMM INC	64,467	71,542
78463X863 SPDR DJ WILSHIRE INT	222,591	238,810
78464A359 SPDR BARCLAYS CONVER	87,510	102,572
803054204 SAP SE	43,221	71,154
806857108 SCHLUMBERGER LTD	91,621	84,804
81369Y100 AMEX MATERIALS SPDR	91,337	113,426
81369Y506 AMEX ENERGY SELECT S	45,235	44,968
81616X103 SELECT COMFORT CORPO	18,669	20,416
84763R101 SPECTRUM BRANDS HOLD	15,224	35,848
855030102 STAPLES INC
85590A401 STARWOOD HOTELS & RE
858119100 STEEL DYNAMICS INC C	21,020	29,977
87162H103 SYNTEL INC	21,886	34,810
872275102 TCF FINANCIAL	26,930	31,673
874039100 TAIWAN SEMICONDUCTOR	40,235	85,468
882508104 TEXAS INSTRUMENTS IN
883556102 THERMO FISHER SCIENT
88579Y101 3M CO	43,440	81,435
899896104 TUPPERWARE BRANDS CO	19,064	17,426
911312106 UNITED PARCEL SERVIC	36,505	51,510
913017109 UNITED TECHNOLOGIES	61,375	78,531
918194101 VCA INC	16,935	44,802
918204108 V F CORP	48,403	91,220
922042858 VANGUARD FTSE EMERGI	26,486	23,517
92857W209 VODAFONE GROUP PLC N
931142103 WAL MART STORES INC	23,865	26,846
94106L109 WASTE MANAGEMENT INC
96208T104 WEX INC	12,447	26,074
97717W851 WISDOMTREE JAPAN HED	73,831	113,668
989207105 ZEBRA TECHNOLOGIES C	12,434	29,068
G1151C101 ACCENTURE PLC	45,101	99,803
G74079107 RECKITT BENCKISER PL	55,735	110,812
G87621101 TESCO PLC 5P
H8817H100 TRANSOCEAN LTD.
J35759125 KOMATSU JPY 50.0	44,366	34,590
055434203 BG GROUP PLC - ADR
12621E103 CNO FINANCIAL GROUP	33,234	35,231
126349109 CSG SYS INTL INC COM	31,028	34,794
38259P706 GOOGLE INC-CL C
464286608 ISHARES MSCI EMU ETF
57636Q104 MASTERCARD INC	75,375	94,733
57776J100 MAXLINEAR INC	23,622	30,706
61760X836 MORGAN STANLEY INS F	75,006	70,883
682159108 ON ASSIGNMENT INC CO	28,208	47,907
73640Q105 PORTFOLIO RECOVERY A
78462F103 SPDR S & P 500 ETF T	179,212	189,216
790849103 ST JUDE MED INC	69,742	67,830
879382208 TELEFONICA SA - ADR	32,527	26,959
904767704 UNILEVER PLC - ADR	36,461	40,450
92343V104 VERIZON COMMUNICATIO	22,614	22,034
92857W308 VODAFONE GROUP PLC-S
02079K107 ALPHABET INC CL C	96,627	121,549
07177M103 BAXALTA INC	21,110	32,013
256206103 DODGE & COX INT'L ST	730,000	659,712
68557N103 ORBITAL ATK INC	15,444	45,379
69354N106 PRA GROUP INC	33,759	31,126
731068102 POLARIS INDS INC COM	64,650	46,621
773903109 ROCKWELL AUTOMATION	42,258	40,935
84473L105 SOUTH32 - ADR	2,484	1,419
85771P102 STATOIL ASA ADR	32,394	28,959
902641646 E-TRACS ALERIAN MLP	146,968	144,742

- TIN:

TY 2014 InvestmentsGovtObligationsSch

Name:

VICTOR W KRAMER CHARITABLE TRUST

EIN: 27-6739649

US Government Securities - End of Year Book Value:

1,532,306

US Government Securities - End of Year Fair Market Value:

1,535,017

State & Local Government Securities - End of Year Book Value:

State & Local Government Securities - End of Year Fair Market Value:

- TIN:

TY 2014 InvestmentsOtherSchedule2

Name:

VICTOR W KRAMER CHARITABLE TRUST

EIN: 27-6739649

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
94987W737 WFA ABSOLUTE RETURN	AT COST	1,100,000	1,039,767

- TIN:

TY 2014 OtherDecreasesSchedule

Name:

VICTOR W KRAMER CHARITABLE TRUST

EIN: 27-6739649

Description	Amount

- TIN:

TY 2014 OtherExpensesSchedule

Name:

VICTOR W KRAMER CHARITABLE TRUST

EIN: 27-6739649

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ADR FEES	413	413		0

- TIN:

TY 2014 OtherIncomeSchedule2

Name:

VICTOR W KRAMER CHARITABLE TRUST

EIN: 27-6739649

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
MUTUAL FUND INCOME	10,314	10,314

- TIN:

TY 2014 OtherIncreasesSchedule

Name:

VICTOR W KRAMER CHARITABLE TRUST

EIN: 27-6739649

Description	Amount

- TIN:

TY 2014 TaxesSchedule

Name:

VICTOR W KRAMER CHARITABLE TRUST

EIN: 27-6739649

Category	Amount	Net Investment Income
FOREIGN TAXES	2,056	2,056
FEDERAL TAX PAYMENT - PRIOR YE	4,419	0
FEDERAL ESTIMATES - PRINCIPAL	7,196	0
FOREIGN TAXES ON QUALIFIED FOR	1,612	1,612
FOREIGN TAXES ON NONQUALIFIED	534	534