Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
Leo M Shortino Family Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)1760 The Alameda
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
San Jose, CA95126
A Employer identification number

68-0237238
B Telephone number (see instructions)

(408) 275-6306
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$47,113,932J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 603,258 603,258  
5a Gross rents............ 1,070,617 1,070,617  
b Net rental income or (loss) 169,583
6a Net gain or (loss) from sale of assets not on line 10 640,926
b Gross sales price for all assets on line 6a 13,330,750
7 Capital gain net income (from Part IV, line 2)... 640,926
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 2,314,801 2,314,801  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 156,996 3,140   149,220
14 Other employee salaries and wages...... 40,130 401   30,900
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 15,566 156   11,986
c Other professional fees (attach schedule).... Click to see attachment 113,574 95,164   14,319
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 22,758 2,750   0
19 Depreciation (attach schedule) and depletion... Click to see attachment 1,065 583,080  
20 Occupancy.............. 6,000 60   4,620
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 337,811 318,139   15,026
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 693,900 1,002,890   226,071
25 Contributions, gifts, grants paid....... 2,067,120 2,196,560
26 Total expenses and disbursements. Add lines 24 and 25 2,761,020 1,002,890   2,422,631
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -446,219
b Net investment income (if negative, enter -0-) 1,311,911
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 156,222 222,968 222,968
2 Savings and temporary cash investments......... 3,953,111 517,418 517,418
3 Accounts receivable bullet18,074
Less: allowance for doubtful accounts bullet   16,431 18,074 18,074
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 20,008    
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 20,857,451 Click to see attachment16,592,110 16,592,110
c Investments—corporate bonds (attach schedule)....... 5,310,701 Click to see attachment7,145,704 7,145,704
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 17,892,443 Click to see attachment22,617,066 22,617,066
14 Land, buildings, and equipment: basis bullet5,686
Less: accumulated depreciation (attach schedule) bullet5,094 2,801 Click to see attachment592 592
15 Other assets (describe bullet) Click to see attachment4,714 Click to see attachment0 Click to see attachment0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 48,213,882 47,113,932 47,113,932
Liabilities 17 Accounts payable and accrued expenses.......... 113,219 108,715
18 Grants payable.................. 189,440 60,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment0 Click to see attachment56,935
23 Total liabilities (add lines 17 through 22)......... 302,659 225,650
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 47,911,223 46,888,282
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 47,911,223 46,888,282
31 Total liabilities and net assets/fund balances (see instructions). 48,213,882 47,113,932
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
47,911,223
2
Enter amount from Part I, line 27a .....................
2
-446,219
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
47,465,004
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
576,722
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
46,888,282
Form 990-PF (2015)
Form 990-PF (2015)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a Publicly traded securities P 2015-01-01 2015-12-31
b Disposal of Duncanville property D 2009-02-01 2015-11-13
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 12,550,750   12,283,715 267,035
b 780,000 226,549 632,658 373,891
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       267,035
b       373,891
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 640,926
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2014 2,379,797 48,482,108 0.049086
2013 2,387,620 47,659,896 0.050097
2012 2,299,567 48,364,022 0.047547
2011 2,301,441 46,678,912 0.049304
2010 1,860,640 48,101,850 0.038681
2
Total of line 1, column (d) .....................
20.234715
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
0.046943
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
50,123,726
5
Multiply line 4 by line 3......................
5
2,352,958
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
13,119
7
Add lines 5 and 6........................
7
2,366,077
8
Enter qualifying distributions from Part XII, line 4.............
8
2,422,631
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 (2015)
Form 990-PF (2015)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 13,119
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 13,119
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 13,119
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 18,961
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 15,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 33,961
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 20,842
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet20,842 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletwww.shortino.org
    14
    The books are in care ofbulletThe Foundation Telephone no.bullet (408) 275-6306

    Located atbullet1760 The AlamedaSan JoseCA ZIP+4bullet95126
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    CHRISTINE BURROUGHS CHAIRMAN
    2.00     		3,600 0 0
    1760 THE ALAMEDA
    SAN JOSE,CA95126
    DAVID HEIMAN VICE CHAIRMAN
    2.00     		3,600 0 0
    1760 THE ALAMEDA
    SAN JOSE,CA95126
    LINDA MURRAY SECRETARY
    2.00     		3,600 0 0
    1760 THE ALAMEDA
    SAN JOSE,CA95126
    FRANK BOITANO TREASURER
    2.00     		3,200 0 0
    1760 THE ALAMEDA
    SAN JOSE,CA95126
    Sonya Arriola BOARD MEMBER
    2.00     		3,200 0 0
    1760 THE ALAMEDA
    SAN JOSE,CA95126
    GERALD T WADE JR BOARD MEMBER
    2.00     		3,600 0 0
    1760 THE ALAMEDA
    SAN JOSE,CA95126
    Martin Baccaglio BOARD MEMBER
    2.00     		0 0 0
    1760 THE ALAMEDA
    SaN JOSE,CA95126
    Ricardo Benavidez BOARD MEMBER
    2.00     		2,800 0 0
    1760 THE ALAMEDA
    SaN JOSE,CA95126
    Gary T Shara BOARD MEMBER
    2.00     		3,600 0 0
    1760 THE ALAMEDA
    San JOSE,CA95126
    Elaine Curran Executive Director
    40.00     		129,796 0 0
    1760 THE ALAMEDA
    sAN JOSE,CA95126
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    35,796,384
    b
    Average of monthly cash balances.......................
    1b
    453,028
    c
    Fair market value of all other assets (see instructions)................
    1c
    14,637,619
    d
    Total (add lines 1a, b, and c).........................
    1d
    50,887,031
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    50,887,031
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    763,305
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    50,123,726
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,506,186
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    2,506,186
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    13,119
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    13,119
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,493,067
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,493,067
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    2,493,067
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    2,422,631
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    2,422,631
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
    13,119
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    2,409,512
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 2,493,067
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 2,192,563
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 2,422,631
    a Applied to 2014, but not more than line 2a 2,192,563
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		Click to see attachment0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2015 distributable amount..... 230,068
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		2,262,999
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ELAINE CURRAN
    1760 THE ALAMEDA
    SAN JOSE,CA95126
    (408) 275-6303
    bThe form in which applications should be submitted and information and materials they should include:
    THE APPLICANT ORGANIZATION PROVIDES A LETTER OF INTENT ONLINE 30 DAYS BEFORE THE PROPOSAL GRANT DATE. THE FOUNDATION WILL DETERMINE IF THE APPLICATION IS IN THE FOUNDATION'S AREA OF INTEREST AND WILL REQUEST AN ONLINE PROPOSAL. THE APPLICANT CAN ALSO PROVIDE A WRITTEN GRANT PROPOSAL TO THE EXECUTIVE DIRECTOR.
    cAny submission deadlines:
    A LETTER OF INTENT IS REQUIRED 60 DAYS AND A GRANT PROPOSAL 30 DAYS PRIOR TO ANY BOARD MEETING
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE FOUNDATION PRIMARILY MAKES GRANTS TO ORGANIZATIONS RECOGNIZED BY THE IRS UNDER SECTION 501(C)(3). THE FOUNDAITON MOST OFTEN MAKES GRANTS TO THE SUPPORT OF DIRECT SERVICES AND CAPITAL PROJECTS, ORGANIZAITONS THAT PRIMARILY PROVIDE SERVICES IN SANTA CLARA COUNTY, ORGANIZATIONS THAT HAVE CLEARLY STATED STRATEGIC PLANS, INCORPORATED MEASURABLE OBJECTIVES, AND HAVE A TRACK RECORD OF MATCHING AND EXCEEDING PERFORMANCE GOALS.
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ACE Charter Schools
    625 S Sunset Ave
    San Jose,CA95116     		NONE   Schoolwide Literacy Program for Struggling Readers 50,000
    AchieveKids
    3860 Middlefield Road
    Palo Alto,CA94303     		NONE   Vocational Education Program for at-risk, transition-age youth with special needs. 15,000
    Acknowledge Alliance
    2483 Ole Middlefield Way Suite 208
    Mountain View,CA94043     		NONE   Social-emotional learning and resiliance program expansion in Sunnyvale schools 10,000
    Alearn
    3777 Stevens Creek Blvd South 330
    Santa Clara,CA95051     		NONE   Math assistance for underrepresented students in Santa Clara County schools 30,000
    Alearn
    3777 Stevens Creek Blvd South 330
    Santa Clara,CA95051     		NONE   Math assistance for underrepresented students in Santa Clara County schools 2,000
    Alum Rock Counseling Center
    777 North First Street
    San Jose,CA95112     		NONE   Grant: Ocala Middle School Mentoring and Support Services Program 35,000
    Archbishop Mitty High School
    5000 Mitty Way
    San Jose,CA95129     		NONE   Grant: Two One Year Scholarships 30,000
    Art In Action
    3925 Bohannon Drive 300
    Menlo Park,CA94025     		NONE   Comprehensive K-8 visual arts program in three Santa Clara schools in the Alum Rock district. 20,000
    Aspiranet - Mouse Squad
    400 Oyster Point Blvd
    South San Francisco,CA94080     		NONE   Online curriculum and project based activities in STEM for low-income students at Eastside Alliance 10,000
    Bellarmine College Prep
    960 West Hedding Street
    San Jose,CA95126     		NONE   Grant: Scholarships for Low-Income Students 47,000
    BELL (Building Educated Leaders for Life)
    60 Clayton Street
    Dorchester,MA02122     		NONE   Summer academic program for students at two low-income schools in San Jose. 20,000
    Books Aloud Inc
    P O Box 5731
    San Jose,CA951505731     		NONE   Purchase of Nook Tablets to update Mini-Libraries serving special needs youth in Santa Clara County 20,000
    Boys and Girls Club of Silicon Valley
    518 Valley Way
    Milpitas,CA95035     		NONE   Grant: Summer Camp 80,000
    Breakthrough Silicon Valley
    1635 Park Ave
    San Jose,CA95126     		NONE   Middle and High academic support program 25,000
    Catholic Charities of Santa Clara County
    460 Race Street
    San Jose,CA95126     		NONE   Summer literacy and enrichment program for 60 3rd-5th graders at Santee Elementary reading below gra 25,000
    Center for Volunteer & Nonprofit Leadership
    65 Mitchell Blvd Suite 101
    San Rafael,CA94903     		NONE   To support volunteers who provide tutoring to Santa Clara County students, visit incarcerated teens 2,500
    Child Advocates
    509 Valley Way
    Milpitas,CA95035     		NONE   Grant: Volunteer Advocates for Foster Youth 25,000
    Children's Discovery Museum of San Jose
    180 Woz Way
    San Jose,CA95110     		NONE   Digital media and service learning program for youth from diverse social, economic, and ethnic backg 25,000
    Children's Musical Theater
    1401 Parkmoor Avenue Suite 100
    San Jose,CA95126     		NONE   Grant: Community Access Programs for 2012/2013 Performance Season 35,000
    Citizen Schools
    330 Twin Dolphin Drive Suite 115
    Redwood City,CA94065     		NONE   Expanded Learning Time at Joseph George Middle School 50,000
    City Year San Jose
    90 North 1st Street
    San Jose,CA95113     		NONE   Grant: Middle School Extended learning Program in Alum Rock 75,000
    Community Health Awareness Council
    711 Church St
    Mountain View,CA94041     		NONE   Counseling services for children in Sunnyvale Schools 25,000
    Community School of Music Art
    230 San Antonio Cir
    Mountain View,CA94040     		NONE   Art4Schools at Lyndale Elementary School 20,000
    ConXin To Community
    749 Story Road 10
    San Jose,CA95122     		NONE   Bright Future program at Overfelt and Yerba Buena high schools: life skills coaching and mentoring t 40,000
    Cristo Rey San Jose
    1390 5 Wounds Lane
    San Jose,CA95116     		NONE   Student scholarships. 50,000
    Cristo Rey San Jose
    1390 5 Wounds Lane
    San Jose,CA95116     		NONE   Student scholarships. 50,000
    Diocese of San Jose
    1150 North First Street Ste 100
    San Jose,CA95112     		NONE   Provide Tuition Assistance for low-income students enrolled in the Drexel School System (SKDI). 50,000
    East Side Community Arts
    2400 Moorpark Ave Suite 207
    San Jose,CA95128     		NONE   Provide 2- and 4-week, half-day summer arts camp for 8-14 year old students in East San Jose. 8,000
    Elevate Tutoring
    PO Box 4439
    Mountain View,CA94040     		NONE   Tutoring and mentoring for students at Andrew Hill High School 15,000
    Employer School Council
    17508 High St
    Los Gatos,CA95030     		NONE   College scholarships for at-risk youth 10,000
    EMQ Families First
    215 Llewallyn Avenue
    Campbell,CA95008     		NONE   Grant: Addiction Prevention Services in Alum Rock Schools 35,000
    Family & Children Services
    950 W Julian Street
    San Jose,CA95126     		NONE   Teen Families and Schools Together program at Andrew Hill and Yerba Buena high schools 20,000
    Family Supportive Housing
    692 N King Rd
    San Jose,CA95133     		NONE   San Jose Family Shelter After-School Program 20,000
    Fresh Lifelines for Youth
    568 Valley Way
    Milpitas,CA95035     		NONE   Grant: Legal Eagle Program in Santa Clara County 35,000
    Girl Scouts of Northern California
    1310 S Bascom Ave
    San Jose,CA95128     		NONE   Decision-making/wellness/ healthy lifestyles programs 25,000
    Grail Family Services
    2003 E San Antonio Street
    San Jose,CA95116     		NONE   Yes We Can. READ! Children's Initiative 25,000
    Guadalupe River Park
    438 Coleman Avenue
    San Jose,CA95110     		NONE   Educational field trips for students at Title 1 schools 20,000
    Juma Ventures
    131 Steuart Street 201
    San Francisco,CA94105     		NONE   Pathways program: employ low-income students, build their financial capability and college savings, 25,000
    JustREAD
    PO Box 4459
    Mountain View,CA94040     		NONE   Literacy Tutoring Program 10,000
    JustREAD
    PO Box 4459
    Mountain View,CA94040     		NONE   Literacy Tutoring Program 10,000
    Kiwanis Club of Los Altos
    2110 Grant Road
    Los Altos,CA94024     		NONE   2017 Special Games; a day of athletic events for children with physical and mental disabilities in g 5,000
    Kiwanis Club of San Jose Foundation
    15030 Montebello Road
    Cupertino,CA95014     		NONE   Grant: Turn Around Scholarships for at Risk Youth 75,000
    Kiwanis Club of San Jose Foundation
    15030 Montebello Road
    Cupertino,CA95014     		NONE   To support the 2016 annual fundraising event in support of the Turnaround Scholarship. 5,000
    Kiwanis Club of San Jose Foundation
    15030 Montebello Road
    Cupertino,CA95014     		NONE   To support the 2015 annual fundraising event in support of the Turnaround Scholarship. 5,000
    Montalvo Association
    15400 Montalvo Road
    Saratoga,CA95071     		NONE   Performing arts serires for students 10,000
    Morgan Autism Center
    2280 Kenwood Avenue
    San Jose,CA95128     		NONE   Individualized, high-quality educational programming for children with autism spectrum disorders, pa 10,000
    Movimiento de Arte y Cultura Latino Am
    510 South First Street
    San Jose,CA95113     		NONE   DMC Studio: provide low-income Latino youth the opportunity to learn the latest technology from medi 25,000
    Mt View-Los Altos Community Scholars
    183 Hillview Avenue
    Los Altos,CA94022     		NONE   Grant: College Scholarships for at Risk Youth 24,000
    Music for Minors
    883 North Shoreline Blvd
    Mountain View,CA94043     		NONE   Grant: Volunteer Led Music Education 20,000
    Norte Dame High School
    596 S Second St
    San Jose,CA95112     		NONE   Tuition assistance for low-income students 35,000
    O'Neal Sea Odssey
    2222 East Cliff Drive Suite 222
    Santa Cruz,CA95062     		NONE   Community service, ocean-going field trip and classroom science curriculum for Santa Clara County st 10,000
    Peninsula College Fund
    330 Twin Dolphin Drive Suite 131
    Redwood City,CA94065     		NONE   College Scholarships for Low-Income Students 10,000
    Presentation High School
    2281 Plummer Avenue
    San Jose,CA95125     		NONE   Grant: Scholarships for Low-Income Students 44,000
    Reading Partners
    2281 Plummer Avenue
    San Jose,CA95125     		NONE   Grant: Scholarships for Low-Income Students 15,000
    Regents of the Univ of California
    1111 franklin Street
    Oakland,CA94607     		NONE   UC Berkeley Destination College Advising Corps (DCAC): encourage college for low-income students. 30,000
    Sacred Heart Community Service
    1381 South First Street
    San Jose,CA95110     		NONE   Youth Education Programs 20,000
    Sacred Heart Nativity School
    310 Edwards Ave
    San Jose,CA95110     		NONE   Grant: tuition Assistance for Low-Income Students 30,000
    San Jose Jazz
    145 W San Carlos St
    San Jose,CA95113     		NONE   Progressions music program at Franklin-McKinley School District 30,000
    San Jose Museum of Art
    110 S Market Street
    San Jose,CA95110     		NONE   Sowing Creativity integrated arts, social studies, science, technology program for 3rd grade student 25,000
    School of Arts & Culture of Mexican Hert
    1700 Alum Rock Avenue
    San Jose,CA95116     		NONE   Grant: Arts Education Summer Camps and After School Programs 50,000
    Silicon Valley Children's Fund
    1871 The Alameda 335
    San Jose,CA95126     		NONE   College scholarships and support for foster youth 20,000
    silicon Valley De-Bug
    701 Lenzen Avenue
    San Jose,CA95126     		NONE   Multimedia arts workshops for at-risk youth at Title 1 schools 15,000
    Silicon Valley Education Foundation
    1400 Parkmoor Avenue 200
    San Jose,CA95126     		NONE   Implement Professional Learning Communities in Eastside Alliance school districts 50,000
    Silicon Valley Faces
    777 North First Street Suite 220
    San Jose,CA95112     		NONE   Camp Everytown for Title I high schools in East San Jose 35,000
    Silicon Valley Urban Debate League
    930 Palo Alto Avenue
    Palo Alto,CA94301     		NONE   Competitive debate program at Overfelt, Silver Creek and Oak Grove high schools. 10,000
    SOMOS Mayfair
    370-B S King Road
    San Jose,CA95116     		NONE   In Our Hands, Bridge to Kindergarten, and Raising a Reader programs 30,000
    Stanford University
    450 Serra Mall
    Stanford,CA94305     		NONE   Raising Interest in Science & Engineering (RISE) Summer Internship Program for high school students. 10,000
    Sunrise Middle School
    4960 East Acoma Drive
    Scottsdale,AZ85254     		NONE   After school program blending computer adaptive instruction with mentoring for academically at-risk 10,000
    Tech Museum
    201 S Market Street
    San Jose,CA95113     		NONE   STEM focused Tech Academies of Innovation program at low-income schools 25,000
    Teen Success
    576 Valley Way
    Milpitas,CA95035     		NONE   Support group for teen mothers to finish high school and become independent 25,000
    TeenForce
    1080 North 7th Street
    San Jose,CA95112     		NONE   Foster Youth Employment Program 25,000
    The Beat Within
    PO Box 34310
    San Francisco,CA94134     		NONE   Writing workshops for youth in Santa Clara County Juvenile Hall 15,000
    Third Street Community Center
    160 N Third Street
    San Jose,CA95112     		NONE   After-school academic programs 20,000
    Unity Care Group
    1400 Parkmoor Avenue Suite 115
    San Jose,CA95126     		NONE   School-linked educational and family wellness program at Oak Grove High School 12,500
    Valds Math Foundation
    4848 San Felipe Rd 150-213
    San Jose,CA95135     		NONE   Summer Remedial Math program for students in East San Jose 35,000
    Via Services
    2851 Park Avenue
    Santa Clara,CA95050     		NONE   Grant: Healthy Living Initiative at Via West 50,000
    YWCA
    375 South Third Street
    San Jose,CA95112     		NONE   Grant: Cultural and Educational Opportunities for High Risk Students 20,000
    Alum Rock School District
    2930 Gay Avenue
    San Jose,CA95127     		None   School and district transformation 67,400
    Partners in School Innovation
    1060 Tennessee St 2nd Floor
    San Francisco,CA94107     		None   Grant: Alum Rock School and District Initiative 107,000
    Kiwanis Club of Los Altos
    2110 Grant Road
    Los Altos,CA94024     		None   Special Games 5,000
    Triton Museum of Art
    1505 Warburton Avenue
    Santa Clara,CA95050     		NonE   Art Reach after school programin Santa Clara Unified School District 7,160
    Total .................................bullet 3a 2,196,560
    bApproved for future payment
    Legacy Academy
    420 Allegan Circle
    San Jose,CA95123     		NONE   Startup funding for a charter middle school for at-risk students and those involved in the juvenile 50,000
    Facing History and Ourselves
    300 Frank H Ogawa Plaza 269
    Oakland,CA94612     		NONE   Provide students at Title 1 San Jose schools with Language Arts resources examining issues of race, 7,120
    Total .................................bullet 3b 57,120
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		         
    4 Dividends and interest from securities....     14 603,258  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 169,583  
    6
    Net rental income or (loss) from personal property     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 640,926  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 1,413,767 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,413,767
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 15,566 156   11,986

    TY 2015 AppliedToPriorYearElection
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Election:
    Any qualifying distribution made during a taxable year shall be treated as made --First out of the undistributed income of the immediately preceding taxable year to the extent thereof; second out of the undistributed income for the taxable year to the extent thereof; and then out of corpus.

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    TY 2015 DepreciationSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    computer 2010-08-01 1,245 1,245 SL 3.000000000000 0 0    
    Sony Vaio and accessories 2011-03-01 1,144 1,144 SL 3.000000000000 0 0    
    Dell Tower and accessories 2011-12-01 1,675 1,675 SL 3.000000000000 0 0    
    2 iPads 2012-09-01 1,398 1,134 SL 3.000000000000 264 0    
    Elaine's computer 2014-03-31 1,470 368 SL 3.000000000000 311 0    
    Kim's Computer 2014-03-31 1,913 478 SL 3.000000000000 490 0    

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Name of Bond End of Year Book Value End of Year Fair Market Value
    Fixed Income 7,145,704 7,145,704

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Name of Stock End of Year Book Value End of Year Fair Market Value
    EQUITIES 16,592,110 16,592,110

    TY 2015 InvestmentsOtherSchedule2
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    REAL ESTATE FMV 14,637,319 14,637,319
    ALTERNATIVE INVESTMENTS FMV 7,979,747 7,979,747

    TY 2015 LandEtcSchedule2
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    computer 1,245 1,245 0  
    Sony Vaio and accessories 1,144 1,144 0  
    Dell Tower and accessories 1,675 1,675 0  
    2 iPads 1,398 1,398 0  
    Elaine's computer 1,470 679 791  
    Kim's Computer 1,913 968 945  


    TY 2015 OtherAssetsSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    RENTS RECEIVABLE 4,714    


    TY 2015 OtherDecreasesSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Description Amount
    Book to tax difference on gain of Duncanville Property 319,490
    UNREALIZED GAINS 213,232
    Change in excise taxes 44,000


    TY 2015 OtherExpensesSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 1,750 18   1,348
    OFFICE EXPENSE 15,818 144   11,915
    MISCELLANEOUS 2,289 23   1,763
    Rental expenses 78,268 78,268   0
    Rental expenses 14,406 14,406   0
    rental expenses 170,539 170,539   0
    Rental expenses 54,741 54,741   0


    TY 2015 OtherLiabilitiesSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Description Beginning of Year - Book Value End of Year - Book Value
    Security deposits 0 31,935
    Deferred tax liability 0 25,000


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT AND TAX PREPARATION 18,596 186   14,319
    INVESETMENT MANAGEMENT 92,578 92,578   0
    Real estate 2,400 2,400   0


    TY 2015 TaxesSchedule
    Name:
    Leo M Shortino Family Foundation
    EIN:
    68-0237238
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Foreign Taxes 2,750 2,750   0
    Excise 20,008 0   0