TY 2015 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

2015

Open to Public Inspection

For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015

Name of foundation
DR ARTHUR J & HELEN M HORVAT FOUNDATION

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

23-6846849

B Telephone number (see instructions)

(800) 352-3705

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

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

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

$5,060,697J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)
2	Check Sch. B .............
3	Interest on savings and temporary cash investments	21		21
4	Dividends and interest from securities...	125,807		124,001
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		36,368
b	Gross sales price for all assets on line 6a 2,417,591
7	Capital gain net income (from Part IV, line 2)...			36,368
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).......		8,802	8,802
12	Total. Add lines 1 through 11........	170,998		169,192
13	Compensation of officers, directors, trustees, etc.	81,779		50,605		31,174
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).......		1,000	0	0	1,000
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		5,967	1,566		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).......		36,032	47		35,985
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	124,778		52,218	0	68,159
25	Contributions, gifts, grants paid.......	248,000				248,000
26	Total expenses and disbursements. Add lines 24 and 25	372,778		52,218	0	316,159
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-201,780
b	Net investment income (if negative, enter -0-)			116,974
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2015)

Form 990-PF (2015)

Page 2

Part II		Balance Sheets	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.........	250,223	172,008	172,008
	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)
	b	Investments—corporate stock (attach schedule).......	3,004,806	3,149,273	3,602,296
	c	Investments—corporate bonds (attach schedule).......	1,599,889	1,340,087	1,286,393
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........			0
	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)	4,854,918	4,661,368	5,060,697
	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........	4,854,918	4,661,368
	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).....	4,854,918	4,661,368
	31	Total liabilities and net assets/fund balances (see instructions).	4,854,918	4,661,368

Part III

Analysis of Changes in Net Assets or Fund Balances

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

4,854,918

Enter amount from Part I, line 27a .....................

-201,780

Other increases not included in line 2 (itemize) bullet

13,080

Add lines 1, 2, and 3 ..........................

4,666,218

Decreases not included in line 2 (itemize) bullet

4,850

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

4,661,368

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	145. ANHEUSER-BUSCH INBEV SPN ADR		2014-03-12	2015-12-17
b	69. APACHE CORP		2015-06-18	2015-07-28
c	143. APACHE CORP		2014-03-12	2015-07-28
d	15906.681 ASHMORE EMERG MKTS CR DB-INS		2013-08-26	2015-04-24
e	5112.474 ASHMORE EMERG MKTS CR DB-INS		2014-07-11	2015-04-24
	202. BAXTER INTL INC		2014-03-12	2015-06-18
	16. CVS HEALTH CORPORATION		2014-03-12	2015-12-17
	10650.28 DIAMOND HILL LONG-SHORT FD CL I #11		2013-01-31	2015-04-24
	14727.541 DODGE & COX INCOME FD COM #147		2015-04-24	2015-08-24
	501. E M C CORP MASS		2014-06-27	2015-10-23
	3952.569 FID ADV EMER MKTS INC- CL I #607		2015-04-24	2015-08-24
	15. GILEAD SCIENCES INC		2013-03-25	2015-10-23
	.1016 GOOGLE INC-CL C		2014-06-16	2015-05-06
	51. INTERNATIONAL BUSINESS MACHS CORP		2013-10-10	2015-08-10
	891. ISHARES RUSSELL 1000 VALUE ETF		2012-12-27	2015-11-20
	6056.762 IVY ASSET STRATEGY FUND CLASS I #473		2012-09-13	2015-01-14
	15. MONSANTO CO NEW		2015-04-22	2015-12-17
	114. MONSTER BEVERAGE CORP		2013-04-17	2015-01-12
	5. MONSTER BEVERAGE CORP		2014-03-12	2015-01-12
	74. NATIONAL OILWELL INC COM		2014-11-24	2015-07-07
	189. NATIONAL OILWELL INC COM		2014-06-27	2015-07-07
	1873.244 OPPENHEIMER DEVELOPING MKT-I #799		2012-07-03	2015-08-13
	24019.831 PIMCO LOW DURATION FD I #36		2012-04-10	2015-06-02
	41934.938 PIMCO MODERATE DURATION-INST #120		2013-05-23	2015-04-24
	1609.442 PIMCO HIGH YIELD FD-INST #108		2006-03-24	2015-04-24
	5446.623 PIMCO HIGH YIELD FD-INST #108		2006-03-24	2015-06-22
	5567.929 PIMCO HIGH YIELD FD-INST #108		2007-06-28	2015-08-13
	5662.514 PIMCO HIGH YIELD FD-INST #108		2013-12-11	2015-08-24
	53.064 PIMCO FOREIGN BD FD USD H-INST #103		2014-12-10	2015-06-22
	9443.612 PIMCO FOREIGN BD FD USD H-INST #103		2013-12-11	2015-06-22
	1683.502 RIDGEWORTH SEIX FLOATING CL I #5203		2013-05-16	2015-04-24
	5727.377 RIDGEWORTH SEIX FLOATING CL I #5203		2013-05-16	2015-08-13
	5780.347 RIDGEWORTH SEIX FLOATING CL I #5203		2013-11-18	2015-08-24
	7117.438 RIDGEWORTH SEIX FLOATING CL I #5203		2013-11-18	2015-11-20
	73. TARGET CORP		2013-03-25	2015-06-18
	26. TARGET CORP		2013-03-25	2015-10-23
	4580. E-TRACS ALERIAN MLP INFRASTRUCTURE		2014-07-11	2015-10-27
	365. US BANCORP		2013-03-25	2015-05-27
	66. UNITEDHEALTH GROUP INC		2013-10-10	2015-02-27
	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	18,130	14,185	3,945
b	3,208	4,126	-918
c	6,648	11,691	-5,043
d	139,979	149,942	-9,963
e	44,990	50,000	-5,010
	13,993	13,434	559
	1,525	1,079	446
	262,103	190,000	72,103
	200,000	205,155	-5,155
	13,068	12,762	306
	50,000	53,953	-3,953
	1,615	678	937
	57	55	2
	7,997	9,350	-1,353
	89,945	64,248	25,697
	152,388	144,458	7,930
	1,445	1,753	-308
	13,007	6,352	6,655
	570	365	205
	3,344	5,454	-2,110
	8,541	13,655	-5,114
	60,000	58,940	1,060
	240,919	250,190	-9,271
	441,994	455,000	-13,006
	15,000	15,821	-821
	50,000	53,540	-3,540
	50,000	54,625	-4,625
	50,000	54,233	-4,233
	559	597	-38
	99,441	95,454	3,987
	15,000	15,320	-320
	50,000	52,119	-2,119
	50,000	52,381	-2,381
	60,000	64,113	-4,113
	6,071	4,999	1,072
	1,898	1,780	118
	123,520	183,421	-59,901
	16,028	12,290	3,738
	7,506	3,705	3,801
			47,102

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			3,945
b			-918
c			-5,043
d			-9,963
e			-5,010
			559
			446
			72,103
			-5,155
			306
			-3,953
			937
			2
			-1,353
			25,697
			7,930
			-308
			6,655
			205
			-2,110
			-5,114
			1,060
			-9,271
			-13,006
			-821
			-3,540
			-4,625
			-4,233
			-38
			3,987
			-320
			-2,119
			-2,381
			-4,113
			1,072
			118
			-59,901
			3,738
			3,801

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	36,368
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))
2014	317,775	5,595,818	0.056788
2013	267,835	5,366,927	0.049905
2012	226,781	5,058,773	0.044829
2011	238,724	4,517,690	0.052842
2010	198,470	4,771,587	0.041594

Total of line 1, column (d) .....................

20.245958

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 . . .

0.049192

Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....

5,321,890

Multiply line 4 by line 3......................

261,794

Enter 1% of net investment income (1% of Part I, line 27b)...........

1,170

Add lines 5 and 6........................

262,964

Enter qualifying distributions from Part XII, line 4.............

316,159

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)

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 here and 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	1,170
	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	1,170
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	1,170
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	3,120
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	3,120
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	1,950
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax1,172	Refunded	11	778

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 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?

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

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

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

Form 990-PF (2015)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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

(800) 352-3705

Located at bullet

1 WEST 4TH STREET 6TH FLOORWINSTONSALEMNC ZIP+4 bullet

27101

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 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

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 2015?.............

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 2015, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2015?.............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 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.)..................

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 2015?

Form 990-PF (2015)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (Continued)

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 (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-)
WELLS FARGO BANK	CO-TRUSTEE 40	65,271
1525 WEST WT HARRIS BLVD CHARLOTTE,NC28288	CO-TRUSTEE 40	65,271
JOHN R SAURMAN	CO-TRUSTEE 2	8,254
8368 FISHER ROAD ELKINS,PA19027	CO-TRUSTEE 2	8,254
NICHOLAS D TELLIE ESQ	CO-TRUSTEE 2	8,254
310 EAST DRINKER STREET DUNMORE,PA18512	CO-TRUSTEE 2	8,254

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

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)

Page 8

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...................

5,200,186

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

202,748

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

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

5,402,934

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.........................

5,402,934

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

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

81,044

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

5,321,890

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

266,095

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....................

266,095

Tax on investment income for 2015 from Part VI, line 5......

1,170

Income tax for 2015. (This does not include the tax from Part VI.)...

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

1,170

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

264,925

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

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

264,925

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

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

264,925

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 ..........

316,159

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

316,159

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

1,170

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

314,989

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)

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					264,925
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......				32,679
b Total for prior years:2013, 20, 20			0
3 Excess distributions carryover, if any, to 2015:
a From 2010......	0
b From 2011......	0
c From 2012......	0
d From 2013......	0
e From 2014......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2015 from Part
XII, line 4: $ 316,159
a Applied to 2014, but not more than line 2a				32,679
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2015 distributable amount.....					264,925
e Remaining amount distributed out of corpus		18,555
5 Excess distributions carryover applied to 2015.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		18,555
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2014. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2016. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					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 2010 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......		18,555
10 Analysis of line 9:
a Excess from 2011....	0
b Excess from 2012....	0
c Excess from 2013....	0
d Excess from 2014....	0
e Excess from 2015....	18,555

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 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) 2015	(b) 2014	(c) 2013	(d) 2012	(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 e-mail address of the person to whom applications should be addressed:

DR ARTHUR HELEN HORVAT FDN SCHOLA
4320-G WADE HAMPTON BLVD
TAYLORS,SC29687
(866) 608-0001

bThe form in which applications should be submitted and information and materials they should include:

VISIT WWW.CSASCHOLARS.ORG FOR A DETAILED LISTING OF REQUIREMENTS

cAny submission deadlines:

APRIL 15 ANNUALLY

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

VISIT WWW.CSASCHOLARS.ORG FOR A LISTING OF RESTRICTIONS AND LIMITATION

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
UNIVERSITY OF SCRATON OFFICE OF UNDERGRADUATE ADMINSSIONS SCRATION,PA18510	NONE	PC	SCHOLARSHIPS	18,000
KUTZTOWN UNIVERSITY 15200 KUTZTOWN RD KUTZTOWN,PA19530	NONE	PC	SCHOLARSHIPS	8,000
PENN STATE UNIVERSITY UNIVERSITY PARK STATE COLLEGE,PA16801	NONE	PC	SCHOLARSHIPS	10,000
ITHACA COLLEGE 953 DANBY RD ITHACA,NY14850	NONE	PC	SCHOLARSHIPS	5,000
ARCADIA UNIVERSITY 450 SOUTH EASTON ROAD GLENSIDE,PA19038	NONE	PC	SCHOLARSHIPS	8,000
THOMAS JEFFERSON UNIVERSITY SIDENY KIMMEL MEDICAL COLLEGE 211 S 9TH STREET 210 PHILADALPHIA,PA19107	NONE	PC	SCHOLARSHIP	16,000
LA SALLE UNIVERSITY 1900 WEST OLNEY AVENUE PHILADELPHIA,PA19141	NONE	PC	SCHOLARSHIPS	8,000
UNIVERSITY OF SCIENCES 600 S 43RD ST PHILADELPHIA,PA19104	NONE	PC	SCHOLARSHIPS	16,000
TEMPLE UNIVERSITY 1852 NORTH 10 STREET PHILADELPHIA,PA19122	NONE	PC	SCHOLARSHIPS	16,000
DREXEL UNIVERSITY 3141 CHESTNUT STREET SUITE 225 PHILADELPHIA,PA19104	NONE	PC	SCHOLARSHIPS	16,000
BUCKNELL UNIVERSITY 701 MOORE AVENUE LEWISBURG,PA17837	NONE	PC	SCHOLARSHIPS	8,000
MISERICORDIA COLLEGE 301 LAKE STREET DALLAS,PA18612	NONE	PC	SCHOLARSHIPS	48,000
WILKES UNIVERSITY 84 W SOUTH ST WILKESBARRE,PA18701	NONE	PC	SCHOLARSHIPS	13,000
UNIVERSITY OF PITTSBURGH 3550 TERRACE ST PITTSBURGH,PA15261	NONE	PC	SCHOLARSHIPS	18,000
COMMONWEALTH MEDICAL COLLEGE 525 PINE STREET SCRANTON,PA18509	NONE	PC	SCHOLARSHIPS	16,000
UNIVERSITY OF FLORIDA COLLEGE OF MEDICINE PO BOX 100216 GAINSVILLE,FL32611	NONE	PC	SCHOLARSHIPS	8,000
UCLA A 129 MURPHY HALL LOS ANGELES,CA90095	NONE	PC	SCHOLARSHIPS	16,000
Total ................................. 3a				248,000

bApproved for future payment

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

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	(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 ...........			14	21
4 Dividends and interest from securities....			14	125,807
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	36,368
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aM FUND EARNING			14	8,802
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				170,998

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

13170,998

(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 (2015)

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 organizations?

Yes

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 EIN
	Firm's address				Phone no.

Form 990-PF (2015)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2015 AccountingFeesSchedule

Name:

DR ARTHUR J & HELEN M HORVAT FOUNDATION

EIN:

23-6846849

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	1,000			1,000

- TIN:

TY 2015 CompensationExplanation

Name:

DR ARTHUR J & HELEN M HORVAT FOUNDATION

EIN:

23-6846849

Person Name	Explanation
WELLS FARGO BANK	CO-TRUSTEE
JOHN R SAURMAN	CO-TRUSTEE
NICHOLAS D TELLIE ESQ	CO-TRUSTEE

- TIN:

TY 2015 InvestmentsCorpBondsSchedule

Name:

DR ARTHUR J & HELEN M HORVAT FOUNDATION

EIN:

23-6846849

Name of Bond	End of Year Book Value	End of Year Fair Market Value
693390304 PIMCO LOW DURATION F
693390593 PIMCO MODERATE DURAT
693390841 PIMCO HIGH YIELD FD-	72,640	65,309
693390882 PIMCO FOREIGN BD FD	55,488	56,531
044820504 ASHMORE EMERG MKTS C
76628T678 RIDGEWORTH SEIX FLOA	111,067	101,935
256210105 DODGE & COX INCOME F	494,845	474,939
315920702 FID ADV EMER MKTS IN	106,047	97,268
957663701 WESTERN ASSET INTERM	500,000	490,411

- TIN:

TY 2015 InvestmentsCorpStockSchedule

Name:

DR ARTHUR J & HELEN M HORVAT FOUNDATION

EIN:

23-6846849

Name of Stock	End of Year Book Value	End of Year Fair Market Value
87612E106 TARGET CORP	14,740	16,628
254687106 WALT DISNEY CO	14,180	26,480
037411105 APACHE CORP
46625H100 JPMORGAN CHASE & CO	16,798	22,846
459200101 INTERNATIONAL BUSINE
594918104 MICROSOFT CORP	10,129	27,352
780905451 ROYCE PREMIER FUND W	85,211	67,772
517834107 LAS VEGAS SANDS CORP	14,663	10,215
637071101 NATIONAL OILWELL INC
91324P102 UNITEDHEALTH GROUP I	12,058	23,175
097023105 BOEING CO	18,466	28,340
907818108 UNION PACIFIC CORP	18,717	20,176
037833100 APPLE INC	29,310	43,683
268648102 E M C CORP MASS
68389X105 ORACLE CORPORATION	11,085	12,274
61166W101 MONSANTO CO NEW	19,858	18,226
806857108 SCHLUMBERGER LTD	19,595	17,159
872540109 TJX COMPANIES INC	7,089	16,947
03076C106 AMERIPRISE FINL INC	16,142	14,260
09247X101 BLACKROCK INC	10,798	11,918
883556102 THERMO FISHER SCIENT	6,990	15,745
12572Q105 CME GROUP INC	12,458	18,845
25264S833 DIAMOND HILL LONG-SH
411511306 HARBOR INTERNATION F	236,165	257,010
464287200 ISHARES CORE S & P 5	414,117	482,674
464287499 ISHARES RUSSELL MID-	240,236	357,201
464287614 ISHARES RUSSELL 1000	153,096	234,474
464287804 ISHARES CORE S&P SMA	139,783	188,288
466001864 IVY ASSET STRATEGY F
008252108 AFFILIATED MANAGERS	11,510	12,142
03524A108 ANHEUSER-BUSCH INBEV
071813109 BAXTER INTL INC
084670702 BERKSHIRE HATHAWAY I	18,662	24,031
126650100 CVS HEALTH CORPORATI	11,461	21,314
150870103 CELANESE CORP	13,869	19,189
17275R102 CISCO SYSTEMS INC	17,695	22,430
20030N101 COMCAST CORP CLASS A	16,096	21,613
25243Q205 DIAGEO PLC - ADR	11,842	10,471
375558103 GILEAD SCIENCES INC	5,467	12,244
38141G104 GOLDMAN SACHS GROUP	9,104	11,715
404280406 HSBC - ADR	16,993	12,907
413838202 OAKMARK INTERNATIONA	185,000	156,747
464287598 ISHARES RUSSELL 1000	35,910	48,734
478366107 JOHNSON CONTROLS INC	10,649	12,123
58155Q103 MCKESSON CORP	10,453	19,131
611740101 MONSTER BEVERAGE COR
641069406 NESTLE S.A. REGISTER	12,216	12,651
74925K581 BOSTON P LNG/SHRT RE	270,000	276,739
78464A607 SPDR DOW JONES REIT	121,045	146,791
89151E109 TOTAL S.A. - ADR	16,914	15,777
902973304 US BANCORP DEL NEW
911312106 UNITED PARCEL SERVIC	10,069	11,740
922908553 VANGUARD REIT VIPER	113,397	116,964
G29183103 EATON CORP PLC	10,326	9,627
172967424 CITIGROUP INC.	17,220	18,682
231021106 CUMMINS INC.	21,835	13,554
38259P706 GOOGLE INC-CL C
683974604 OPPENHEIMER DEVELOPI	208,156	209,854
902641646 E-TRACS ALERIAN MLP
00203H859 AQR MANAGED FUTURES	50,000	43,955
02079K107 ALPHABET INC CL C	17,545	28,079
405217100 HAIN CELESTIAL GROUP	10,703	10,542
464287465 ISHARES MSCI EAFE ET	110,148	95,948
56501R106 MANULIFE FINANCIAL C	10,857	11,070
693475105 PNC FINANCIAL SERVIC	16,219	16,107
771195104 ROCHE HOLDINGS LTD -	15,824	16,029
77954Q106 T ROWE PRICE BLUE CH	200,000	192,023
867224107 SUNCOR ENERGY INC NE	20,404	19,685

- TIN:

TY 2015 OtherDecreasesSchedule

Name:

DR ARTHUR J & HELEN M HORVAT FOUNDATION

EIN:

23-6846849

Description	Amount
MUTUAL FUND POSTING DATE AFTER TYE	3,520
ROC ADJUSTMENT	1,330

- TIN:

TY 2015 OtherExpensesSchedule

Name:

DR ARTHUR J & HELEN M HORVAT FOUNDATION

EIN:

23-6846849

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
ADR FEE	47	47	0
SCHOLARSHIP COMMITTEE PARTICIP	13,200	0	13,200
E&O INSURANCE	5,425	0	5,425
CSA FEE	17,360	0	17,360

- TIN:

TY 2015 OtherIncomeSchedule2

Name:

DR ARTHUR J & HELEN M HORVAT FOUNDATION

EIN:

23-6846849

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
MUTUAL FUND EARNING	8,802	8,802

- TIN:

TY 2015 OtherIncreasesSchedule

Name:

DR ARTHUR J & HELEN M HORVAT FOUNDATION

EIN:

23-6846849

Description	Amount
MUTUAL FUND TAX EFFECTIVE DATE BEFORE TYE	13,077
ROUNDING	3

- TIN:

TY 2015 TaxesSchedule

Name:

DR ARTHUR J & HELEN M HORVAT FOUNDATION

EIN:

23-6846849

Category	Amount	Net Investment Income
FOREIGN TAXES	328	328
FEDERAL TAX PAYMENT - PRIOR YE	1,281	0
FEDERAL ESTIMATES - PRINCIPAL	3,120	0
FOREIGN TAXES ON QUALIFIED FOR	1,163	1,163
FOREIGN TAXES ON NONQUALIFIED	75	75