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
BADGER CREEK CORPORATION
 
Number and street (or P.O. box number if mail is not delivered to street address)6500 W 194 STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
STILWELL, KS66085
A Employer identification number

20-1210921
B Telephone number (see instructions)

(913) 599-5010
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$30,743,464J 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) 22,000
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 571,883 571,883 571,883
4 Dividends and interest from securities... 144,681 144,681 144,681
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment -51,624
b Gross sales price for all assets on line 6a 2,828,856
7 Capital gain net income (from Part IV, line 2)...  
8 Net short-term capital gain......... 671
9 Income modifications...........  
10a Gross sales less returns and allowances 256,843
b Less: Cost of goods sold.... 170,087
c Gross profit or (loss) (attach schedule)..... Click to see attachment 86,756 86,756
11 Other income (attach schedule)....... Click to see attachment 300,265   300,265
12 Total. Add lines 1 through 11........ 1,073,961 716,564 1,104,256
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages...... 209,258   209,258  
15 Pension plans, employee benefits....... 16,523   16,523  
16a Legal fees (attach schedule)......... Click to see attachment 2,952   2,952  
b Accounting fees (attach schedule)....... Click to see attachment 13,130   13,130  
c Other professional fees (attach schedule).... Click to see attachment 12,250   12,250  
17 Interest............... 1,512   1,512  
18 Taxes (attach schedule) (see instructions)... Click to see attachment 15,748 2,753 12,995  
19 Depreciation (attach schedule) and depletion... Click to see attachment 279,376   279,376
20 Occupancy..............        
21 Travel, conferences, and meetings....... 8,231   8,231  
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 598,444 112 547,358 50,974
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,157,424 2,865 1,103,585 50,974
25 Contributions, gifts, grants paid....... 3,626,011 3,626,011
26 Total expenses and disbursements. Add lines 24 and 25 4,783,435 2,865 1,103,585 3,676,985
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,709,474
b Net investment income (if negative, enter -0-) 713,699
c Adjusted net income (if negative, enter -0-)... 671
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............. 1,039,109 15,433 15,433
2 Savings and temporary cash investments......... 6,135,119 1,388,897 1,388,897
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet   100,382    
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.............. 623,911 1,655,139 1,655,139
9 Prepaid expenses and deferred charges.......... 12,080 11,860 11,860
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 3,146,777 Click to see attachment2,542,389 2,345,749
c Investments—corporate bonds (attach schedule)....... 13,866,866 Click to see attachment15,401,079 14,732,695
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet10,593,691
Less: accumulated depreciation (attach schedule) bullet937,280 9,435,253 Click to see attachment9,656,411 10,593,691
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 34,359,497 30,671,208 30,743,464
Liabilities 17 Accounts payable and accrued expenses.......... 58,295 79,480
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 58,295 79,480
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 34,301,202 30,591,728
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)..... 34,301,202 30,591,728
31 Total liabilities and net assets/fund balances (see instructions). 34,359,497 30,671,208
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
34,301,202
2
Enter amount from Part I, line 27a .....................
2
-3,709,474
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
30,591,728
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
30,591,728
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 FED HOME LOAN 2% NOTE P 2015-01-15 2015-09-30
b SPECTRA ENERGY P   2015-10-26
c FED NATL MORT 3% NOTE P 2014-09-19 2015-09-11
d TOLEDO OH BONS P 2012-12-07 2015-12-01
e MAINSTAY CUSHING RENAISSANCE ADV P   2015-10-26
KRAFT FOODS P 2012-12-18 2015-07-06
MAINSTAY CUSHING ROYALTY ENERGY P   2015-01-28
CDK GLOBAL INC P   2015-10-26
CHURCH & DWIGHT P   2015-10-26
CONAGRA FOODS P   2015-10-26
CREEK CNTY OK BONDS P 2012-07-12 2015-09-01
DUKE ENERGY P   2015-10-26
FREMONT MI BONDS P 2012-12-21 2015-05-01
GREEN BAY WI BONDS P 2012-11-20 2015-04-01
KRAFT HEINZ CO P   2015-10-26
MAINSTAY CUSHING RENAISSANCE ADV P   2015-10-26
MCDONALDS P   2015-11-09
RALSTON NE BONDS P 2013-02-07 2015-09-09
(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 200,000   200,554 -554
b 29,528   29,152 376
c 250,000   248,775 1,225
d 310,000   319,012 -9,012
e 131,600   161,567 -29,967
24,750     24,750
379,035   514,200 -135,165
17,402   7,424 9,978
109,149   67,414 41,735
76,563   53,427 23,136
250,000   276,055 -26,055
64,980   58,806 6,174
150,000   161,665 -11,665
310,000   317,121 -7,121
115,102   70,058 45,044
120,106   146,694 -26,588
101,635   82,015 19,620
50,580   54,384 -3,804
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       -554
b       376
c       1,225
d       -9,012
e       -29,967
      24,750
      -135,165
      9,978
      41,735
      23,136
      -26,055
      6,174
      -11,665
      -7,121
      45,044
      -26,588
      19,620
      -3,804
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 -77,893
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 3 671
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 1,478,527 24,404,232 0.060585
2013 5,347,357 25,322,193 0.211173
2012 6,930,153 14,540,231 0.476619
2011 3,658,809 2,130,359 1.717461
2010 820,528 1,926,793 0.425852
2
Total of line 1, column (d) .....................
22.891690
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
0.578338
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
20,589,057
5
Multiply line 4 by line 3......................
5
11,907,434
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
7,137
7
Add lines 5 and 6........................
7
11,914,571
8
Enter qualifying distributions from Part XII, line 4.............
8
6,211,499
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 14,274
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 14,274
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 14,274
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 11,860
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 11,860
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 2,414
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletKS, MO, AZ, NM
    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
    Yes
     
    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 addressbulletN/A
    14
    The books are in care ofbulletNELSON D SHIRLEY Telephone no.bullet (913) 599-5010

    Located atbullet6500 W 194TH STREETSTILWELLKS ZIP+4bullet66085
    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
     
     
    ........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
     
     
    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
    NELSON D SHIRLEY PRESIDENT
    20.00     		0 0 0
    6500 W 194 STREET
    STILWELL,KS66085
    LORI KELLY SECRETARY
    15.00     		0 0 0
    6500 W 194 STREET
    STILWELL,KS66085
    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  
    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 ACQUISITION OF LAND, LAND IMPROVEMENTS, EQUIPMENT & LIVESTOCK PURSUANT TO THE FOUNDATION'S EXEMPT PURPOSE 2,534,514
    2 PRESERVATION AND PROMOTION OF BIODIVERSITY OF WILDLANDS 50,974
    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 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    18,052,220
    b
    Average of monthly cash balances.......................
    1b
    2,850,376
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    20,902,596
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    20,902,596
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    313,539
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    20,589,057
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,029,453
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
     
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
     
    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
    3,676,985
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    2,534,514
    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
    6,211,499
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    6,211,499
    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 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only.......  
    b Total for prior years:20, 20, 20  
    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........  
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 6,211,499
    a Applied to 2014, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2015 distributable amount.....  
    e Remaining amount distributed out of corpus 6,211,499
    5 Excess distributions carryover applied to 2015.    
    (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 6,211,499
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		 
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
    671 182,503     183,174
    b 85% of line 2a ......... 570 155,128     155,698
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		6,211,499 1,478,527 5,347,357 6,930,153 19,967,536
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		    5,190 2,500 7,690
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		6,211,499 1,478,527 5,342,167 6,927,653 19,959,846
    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...     		686,302 813,475 844,073 484,675 2,828,525
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    GHOST LAKE CORPORATION
    6500 W 194 ST
    STILWELL,KS66085     		  501 (C)3 ACQUISITION OF WILDLAND 3,626,011
    Total .................................bullet 3a 3,626,011
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		    14 571,883  
    4 Dividends and interest from securities....     14 144,681  
    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 ............     		        -51,624
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..         86,756
    11 Other revenue:
    aCUSTOM GRAZING FEES     		        22,450
    bOTHER INCOME         33,265
    cRECREATION         164,550
    dCRP PAYMENTS         80,000
    e
    12 Subtotal. Add columns (b), (d), and (e)..   716,564 335,397
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,051,961
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2015
    Name of the organization
    BADGER CREEK CORPORATION
     
    Employer identification number

    20-1210921
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015) Page 2
    Name of organization
    BADGER CREEK CORPORATION
          		Employer identification number
    20-1210921
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    NELSON SHIRLEY  
    6500 W 194 STREET
     
    STILWELL, KS66085

    		$ 22,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 3
    Name of organization
    BADGER CREEK CORPORATION
          		Employer identification number

    20-1210921
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 FORD TRUCK $ 22,000 2015-05-14
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 4
    Name of organization
    BADGER CREEK CORPORATION
          		Employer identification number

    20-1210921
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2015 AccountingFeesSchedule
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT ACCOUNTING FEES 13,130   13,130  

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

    TY 2015 DepreciationSchedule
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    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
    DEPRECIATION     728,009     279,376   279,376  

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

    TY 2015 GainLossSaleOtherAssetsSch
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    4 BULLS 2011-03 PURCHASE 2015-04   6,517 9,400     2,265 5,148
    56 HEAD HEIFERS 2012-11 PURCHASE 2015-01   24,245 35,114       10,869
    STUD-WILLIE 2011-09 PURCHASE 2015-10   1,000 1,000     1,000 1,000
    60 COWS W/ CALVES 2012-05 PURCHASE 2015-01   58,265 94,120       35,855
    2 MARES-MARY FLITNER 2012-07 PURCHASE 2015-10   1,400 1,430     447 477
    MARE W/ COLT-GROOVEY 2012-05 PURCHASE 2015-10   700 750     213 263
    1 BULL-WAS 85 2011-01 PURCHASE 2015-05   1,499 3,250     29 1,780
    4 BULLS-WAS 70 2011-01 PURCHASE 2015-04   6,517 8,542     2,652 4,677
    13 HEIFERS-WAS 67 2012-01 PURCHASE 2015-01   15,845 14,625     7,488 6,268
    2 HEIFERS-WAS 83 2012-11 PURCHASE 2015-01   2,438 1,254     1,587 403
    12 COWS-WAS ASSET 129 2012-05 PURCHASE 2015-11   20,000 18,824     10,588 9,412

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ADDISON MI 4.68% SCH CONST 68,402 67,844
    ANACORTES WA 4.429 UTL SYS BAB 57,019 52,730
    AUSTIN TX 2.206% ELEC SYS TAX 253,772 249,292
    BERKS CNTY PA 2.728% SER A TAX 251,872 251,085
    CAMDEN CNTY NJ 2.6% IMPT AUTH 339,032 331,656
    CENTRAL OK 2.4131% TANS DEPT 100,758 100,405
    CHELSEA MA 5.75%GENL OBL 57,475 53,018
    CHESTER CNTY PA 4.981 SCH LEAS 109,161 97,742
    CIT BANK 1.5% CD DUE 5/30/17 250,000 251,172
    CLARK CTY NV 5.51% SCH DIST 62,522 62,330
    CLARK-PLEASANT CNTY IN 5.7% 79,854 75,045
    COLORADO ST 5.42% COPS BAB 85,185 83,884
    COLUMBIA MO 5.44% SWR WTR TAX 130,144 119,650
    COLUMBUS OH 2.483% GEN OBL 189,079 195,346
    COUNCIL BLUFFS IA 5.5% TAX 6/1/23 167,278 151,497
    CREEK CNTY OK 4.93% EDU FAC TA    
    CUYAHOGA CNTY OH 5.284% ECON 271,643 264,010
    DAVENPORT IA 5.7% GENL OB BAB 474,601 418,244
    DC UNIV - HOWARD 5.991% REV TA 113,862 100,361
    DECATUR MI 6.45% PUB SCH DUE 5 245,000 217,728
    EASTERN MI UNIV 5.33% REV BAB 324,837 291,398
    ELIZABETH NJ 2.926% TAX REF 153,046 152,650
    FAIRFIELD OH 4.44% ROAD IMP BA 196,300 177,007
    FED HOME LOAN BANK 2.2% NOTE 148,853 147,964
    FEDERAL NATL MTG 1% DUE 9/11/24    
    FLORIDA ST 4.731% COPS 8/1/16 272,003 255,228
    FREMONT MI 4.62% SCH DIST BAB    
    GE CAPITAL 2.95% DUE 9/19/22 248,613 255,301
    GRAND RIVER OK 4.58% DAM REV A 55,582 52,330
    GREEN BAY WI 1.5% PUB SCH TAXA    
    GUNNISON CNTY CO 3.75% COPS BL 240,725 231,390
    HAMMOND IN 5.04% MULT FAM TAX 56,516 54,288
    HUDSON NY 4.35% SCH DIST TAX D 252,025 235,435
    INDIANA ST 4.302% BANK REV 110,909 105,411
    JEFFERSON LA 5.8% SALES TX 12/1/19 207,923 202,790
    JEFFERSON WI 4.05% ENE TAXABLE 279,415 264,365
    JOHNSON CNTY KS 4.875% SCH DIS 28,877 26,360
    KANSAS CITY MO 3.68% REF IMPT 215,525 208,472
    KANSAS ST 4.25% FIN AUTH TAXAB 57,053 53,328
    KANSAS ST 5.6% DUE 4/1/29 54,520 51,976
    KANSAS ST 5.76% DEV AUTH DUE 1 308,655 278,185
    KENTUCKY ST 4.44% PROP & BLDG 252,326 230,434
    LAS VEGAS VALLEY NV 3.708% WTR 217,381 211,678
    MAHTOMEDIA MN 5% SCH DIST TAX 118,616 104,668
    MARICOPA CT AZ 5.243% 7/1/19 295,090 270,662
    MASSACHUSETTS 4.775% DEV MIL 196,599 183,432
    MERCER CT NJ RENEW ENE TAX 103,518 103,322
    MESA CTY CO 5.11% PARN COPS 88,278 81,560
    METRO CO ST 4.438% DENVER RR R 281,975 269,112
    MIAMI BEACH FL 4.93% REDEV 161,776 150,346
    MICHIGAN ST 4.996% FIN AUTH 9/1/18 287,560 267,345
    MOORESVILL IN 3.6% SCH DIST 1/15/21 282,348 276,251
    NEW YORK CITY NY 4.298% TRANS 403,557 379,516
    NORWOOD MA 4.85% MUN PRUP TAX 81,470 74,029
    ONSLOW CNTY NC 1.72% GENL OBLI 201,785 198,232
    ORCHARD TX 4.728% EDE FAC 148,121 145,398
    PASSAIC CNTY NJ 2.528% WASTE D 304,864 299,751
    PENDER CTY NE 9% HLTH CARE 163,452 161,069
    PORTLAND OR 5.36% URBAN RENW B 173,387 161,021
    RALSTON NE 4.4% ARENA BAB    
    SEDGWICK CNTY KS 5.29% SCH DIS 303,820 283,725
    SNOHOMISH CTY WA 4.062% ECO 69,572 70,699
    SNOMISH CTY WA 3.549% HOSP 112,060 105,771
    SOUTH CAROLINA 6.625% DUE 12/1/19 100,176 95,468
    ST LOUIS CNT MO 3% SPL OBL 12/1/21 201,501 200,546
    TENNESSEE ST 2.379% SCH DIST T 204,865 197,682
    TOLEDO OH 2% HSG IPT TAX DUE 1    
    UNION CNTY PA 5.61% GENL OBLIG 290,290 282,143
    UNIV OF ALABAMA 4.64% GEN REV 117,878 108,211
    UNIV OF OKLAHOMA 2.793 REV TAX 251,965 248,545
    UNIVERSITY OF NORTH TX 3.2% ED 177,928 171,531
    WARREN WOODS MI 3.25% ENE CONS 101,700 95,945
    WASHINGTON UNIV MO 3.527% EDU 277,960 262,365
    BREMERTON WA 5.269% LTD DUE 12/1/25 254,837 244,417
    CHRISTIAN CNTY KY 5.375% SCH DIST 317,122 314,541
    CLEVELAND OH 5.2% QSCB SCH 108,717 105,893
    COLUMBUS OH 5.56% QCSB SCH 227,411 220,832
    DAVENPORT IA 5.5% DUE 6/1/26 319,759 302,615
    GLENDALE WI 3.5% CMMTY DUE 10/1/22 160,025 161,144
    GLOVERSVILLE NY 4.5% SCH DIST 162,751 157,280
    HARLIGEN TX 6.75% SCH DIST 296,123 293,873
    HOFFMAN ESTATES IL 4.25% TSBL 200,025 201,770
    IOWA ST 3.1% WESTERN CC 92,516 91,843
    KANSAS ST 4.25% SLS TAX BAB 165,398 161,656
    ONSTED MI 5.55% QSCB SCH 53,218 53,237
    ORLEANS PARISH LA 4.4% SCH CONST 271,275 266,372
    ST CHARLES MO 6.166% REDEV 170,639 169,876
    VANDERBUILT UNIV 5.25% EDU 4/1/19 111,409 109,972

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Name of Stock End of Year Book Value End of Year Fair Market Value
    APPLE, INC 77,810 102,102
    AUTOMATIC DATA PROCESSING, INC 52,364 88,956
    BLACKROCK INC 33,078 59,591
    BP PLC 126,254 99,770
    BRITISH AMERICAN TOBACCO PLC 88,673 93,883
    BROOKFIELD INFASTRUCTURE PARTN 56,188 62,551
    CDK GLOBAL INC    
    CENTURYTEL INC 79,574 50,320
    CHEVRON CORPORATION 194,423 160,330
    CHURCH & DWIGHT CO INC    
    CONAGRA FOODS INC    
    CONOCO PHILLIPS 108,327 73,733
    DUKE ENERGY CORPORATION    
    DUKE REALTY CORPORATION 40,820 63,060
    EXXON MOBIL 114,737 97,006
    GLAXOSMITHKLINE PLC ADRF 71,907 66,578
    GUGGENHEIM ETF TRUST 106,587 105,660
    INTEL CORP 40,548 68,900
    JOHNSON & JOHNSON 30,764 46,224
    KRAFT FOODS GROUP, INC.    
    LOCKHEED MARTIN CORP 27,834 65,145
    MAINSTAY CUSHING RENAISS ADV    
    MAINSTAY CUSHING ROYALTY ENERGY    
    MCDONALDS CORP    
    NORFOLK SOUTHERN CORP 44,608 63,443
    PENGROWTH ENERGY TRUST 57,440 8,212
    PHILIP MORRIS INTL INC COM 123,515 123,074
    PLUM CREEK TIMBER REIT 50,380 60,265
    ROYAL BANK OF CANADA 98,523 88,407
    SCHWAB US BROAD MARKET ETF 101,956 100,045
    SPECTRA ENERGY CORP    
    TRANSCANADA CORP F 89,386 62,736
    UNILEVER NV 100,409 113,715
    WASTE MANAGEMENT 35,289 58,707
    WEYERNAEUSER CO 50,388 47,117
    ALERIAN MLP ETF 266,489 188,901
    GOLDMAN SACHS MLP INCOME OPPS 274,118 127,318

    TY 2015 LandEtcSchedule2
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDINGS & EQUIPMENT 3,230,083 937,280 2,292,803 3,230,083
    LAND 7,363,608   7,363,608 7,363,608


    TY 2015 LegalFeesSchedule
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT LEGAL FEES 2,952   2,952  


    TY 2015 OtherExpensesSchedule
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    CONTRACT LABOR 8,164   8,164  
    RESIDENT HERD EXPENSES 295,647   295,647  
    GRAZING FEES 19,447   19,447  
    LOGGING & THINNING 12,754   12,754  
    REPAIRS & MAINTENANCE 45,071   45,071  
    MACHINE HIRE 1,135   1,135  
    FUEL 51,617   51,617  
    SUPPLIES 21,918   21,918  
    UTILITIES 14,368   14,368  
    OFFICE SUPPLIES 1,252   1,252  
    POSTAGE 1,153   1,153  
    DUES & SUBSCRIPTIONS 2,838   2,838  
    BANK SERVICE CHARGES 479   479  
    TRADING FEES 112 112    
    MANAGEMENT FEES 84,000   33,026 50,974
    INSURANCE 38,489   38,489  


    TY 2015 OtherIncomeSchedule2
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    CUSTOM GRAZING FEES 22,450   22,450
    OTHER INCOME 33,265   33,265
    RECREATION 164,550   164,550
    CRP PAYMENTS 80,000   80,000


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONSULTING 12,250   12,250  


    TY 2015 SalesOfInventoryList 
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921

    Category Gross Sales Cost of Goods Sold Net (Gross Sales Minus
    Cost of Goods Sold)
    LIVESTOCK SALES 256,843 170,087 86,756

    TY 2015 TaxesSchedule
    Name:
    BADGER CREEK CORPORATION
    EIN:
    20-1210921
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROPERTY TAX 12,995   12,995  
    FOREIGN TAX 2,499 2,499    
    FEDERAL INCOME TAX 254 254