Form990-PF
Click to see attachment

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 07-01-2015 , and ending 06-30-2016
Name of foundation
THE PENATES FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1 LIBERTY LANE EAST NO 100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HAMPTON, NH03842
A Employer identification number

22-2536075
B Telephone number (see instructions)

(603) 926-5911
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$8,291,433J 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) 24,000
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 101,618 101,618 101,618
4 Dividends and interest from securities... 185,561 185,561 185,561
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -174,189
b Gross sales price for all assets on line 6a 1,100,932
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 7,955 7,955 7,955
12 Total. Add lines 1 through 11........ 144,945 295,134 295,134
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 196,204 45,204 0 151,000
17 Interest............... 2,900 2,900 0 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 1,279 1,279 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 396 0 396 0
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 67,895 67,471 0 424
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 268,674 116,854 396 151,424
25 Contributions, gifts, grants paid....... 1,082,050 1,082,050
26 Total expenses and disbursements. Add lines 24 and 25 1,350,724 116,854 396 1,233,474
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,205,779
b Net investment income (if negative, enter -0-) 178,280
c Adjusted net income (if negative, enter -0-)... 294,738
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............. 130,154 7,414 7,414
2 Savings and temporary cash investments......... 141,135    
3 Accounts receivable bullet24,000
Less: allowance for doubtful accounts bullet     24,000 24,000
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..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 9,691,592 Click to see attachment8,260,019 8,260,019
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment24,250 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) 9,987,131 8,291,433 8,291,433
Liabilities 17 Accounts payable and accrued expenses.......... 54,000  
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)......... 54,000 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 50,000 50,000
28 Paid-in or capital surplus, or land, bldg., and equipment fund 5,009,743 5,009,743
29 Retained earnings, accumulated income, endowment, or other funds 4,873,388 3,231,690
30 Total net assets or fund balances (see instructions)..... 9,933,131 8,291,433
31 Total liabilities and net assets/fund balances (see instructions). 9,987,131 8,291,433
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
9,933,131
2
Enter amount from Part I, line 27a .....................
2
-1,205,779
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
8,727,352
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
435,919
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
8,291,433
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 AQR FUNDS RISK PARITY   2014-11-14 2016-04-13
b AQR FUNDS RISK PARITY   2014-11-14 2016-04-13
c AQR FUNDS RISK PARITY (LONG TERM CAPITAL GAIN)     2015-12-23
d AQR FUNDS RISK PARITY (SHORT TERM CAPITAL GAIN)     2015-12-23
e CASELLA WASTE SYSTEMS INC SENIOR NOTE   2015-02-17 2016-06-29
CHESAPEAKE OILFIELD OPER LLC   2015-05-20 2016-01-12
CHESAPEAKE OILFIELD OPER LLC   2015-05-26 2016-01-12
DRESSER-RAND GROUP INC   2015-02-25 2015-07-30
LINN ENERGY LLC/ FIN CORP CPN 6.5   2015-06-12 2016-02-08
MARKETFIELD FUND   2015-03-11 2016-06-24
MARKETFIELD FUND   2015-03-24 2016-06-24
MARKETFIELD FUND   2015-04-28 2016-06-24
MARKETFIELD FUND   2015-09-22 2016-06-24
PIMCO ALL ASSET   2014-11-04 2016-03-01
PIMCO ALL ASSET   2014-11-04 2016-04-06
PIMCO ALL ASSET   2014-11-14 2016-04-06
STAR GAS PARTNERS LP NOTE   2015-01-22 2015-09-03
VANGUARD INTERMEDIATE TERM BOND   2014-11-04 2016-02-02
VANGUARD INTERMEDIATE TERM BOND   2014-11-04 2016-06-23
VANGUARD INTERMEDIATE TERM BOND (LONG TERM CAPITAL GAIN)     2015-12-29
VANGUARD SHORT- TERM INVESTMENT GRADE ADM   2014-11-04 2016-02-02
VANGUARD SHORT- TERM INVESTMENT GRADE ADM   2014-11-04 2016-06-23
VANGUARD SHORT- TERM INVESTMENT GRADE ADM (SHORT TERM CAPITAL GAIN)     2015-12-29
VANGUARD WELLESLEY INCOME FUND ADM (LONG TERM CAPITAL GAIN)     2015-12-17
VANGUARD WELLESLEY INCOME FUND ADM (SHORT TERM CAPITAL GAIN)     2015-12-17
DELTEC BOND FUND P    
BENNET RESTRUCTURING P    
POWERSHARES P    
(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 100,000   123,529 -23,529
b 100,000   121,992 -21,992
c 8,136     8,136
d 12,334     12,334
e 2,039   2,007 32
15,413   39,846 -24,433
5,138   13,144 -8,006
32,245   31,835 410
1,013   39,482 -38,469
214,488   250,000 -35,512
126,155   150,000 -23,845
40,673   50,000 -9,327
22,792   24,996 -2,204
50,000   61,194 -11,194
70,917   82,680 -11,763
29,083   33,715 -4,632
26,110   25,926 184
50,000   50,977 -977
50,000   49,644 356
1,788     1,788
50,000   50,566 -566
50,000   49,953 47
96     96
11,918     11,918
298     298
    19,797 -19,797
30,296     30,296
    3,838 -3,838
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       -23,529
b       -21,992
c       8,136
d       12,334
e       32
      -24,433
      -8,006
      410
      -38,469
      -35,512
      -23,845
      -9,327
      -2,204
      -11,194
      -11,763
      -4,632
      184
      -977
      356
      1,788
      -566
      47
      96
      11,918
      298
      -19,797
      30,296
      -3,838
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 -174,189
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 -31,287
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 1,669,817 10,731,784 0.155595
2013 745,645 11,179,004 0.066700
2012 1,153,291 11,359,218 0.101529
2011 1,904,271 11,918,829 0.159770
2010 2,210,175 13,067,597 0.169134
2
Total of line 1, column (d) .....................
20.652728
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
0.130546
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
8,773,820
5
Multiply line 4 by line 3......................
5
1,145,387
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
1,783
7
Add lines 5 and 6........................
7
1,147,170
8
Enter qualifying distributions from Part XII, line 4.............
8
1,233,474
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 1,783
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 1,783
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,783
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 7,819
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 7,819
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 6,036
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet6,036 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
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletDE
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletSHARON DURKIN Telephone no.bullet (603) 929-2373

    Located atbullet1 LIBERTY LANE EAST SUITE 100HAMPTONNH ZIP+4bullet03842
    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
    150
    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
     
    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
    PAUL M MONTRONE SEE NOTE DIRECTOR
    3.00     		0 0 0
    LIBERTY LANE EAST SUITE 100
    HAMPTON,NH03842
    ANGELO M MONTRONE DIRECTOR
    1.00     		0 0 0
    LIBERTY LANE EAST SUITE 100
    HAMPTON,NH03842
    ANTHONY DINOVI DIRECTOR
    1.00     		0 0 0
    LIBERTY LANE EAST SUITE 100
    HAMPTON,NH03842
    FRED SEIGEL DIRECTOR
    1.00     		0 0 0
    200 STATE STREET 5TH FLOOR
    BOSTON,MA02109
    SANDRA G MONTRONE PRESIDENT/DIR.
    3.00     		0 0 0
    LIBERTY LANE EAST SUITE 100
    HAMPTON,NH03842
    MICHELE M COGAN SEE NOTE VP/ADMIN/SEC/TR
    30.00     		0 0 0
    LIBERTY LANE EAST SUITE 100
    HAMPTON,NH03842
    KEVIN CLARK DIRECTOR
    1.00     		0 0 0
    1 LIBERTY LN E STE 100
    HAMPTON,NH03842
    JEROME MONTRONE DIRECTOR
    1.00     		0 0 0
    LIBERTY LANE EAST SUITE 100
    HAMPTON,NH03842
    MATTHEW FRIEL DIRECTOR
    1.00     		0 0 0
    LIBERTY LANE EAST SUITE 100
    HAMPTON,NH03842
    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
    LIBERTY LANE SERVICE CO PAYROLL & MGMT SERV 75,500
    1 LIBERTY LANE E STE 100
    HAMPTON,NH03842
    BAYBERRY FINANCIAL SERVICES CORP PAYROLL & MGMT SERV 75,500
    1 LIBERTY LANE E STE 100
    HAMPTON,NH03842
    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
    8,775,111
    b
    Average of monthly cash balances.......................
    1b
    132,320
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    8,907,431
    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
    8,907,431
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    133,611
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    8,773,820
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    438,691
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    438,691
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    1,783
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,783
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    436,908
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    436,908
    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
    436,908
    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
    1,233,474
    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
    1,233,474
    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
    1,783
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,231,691
    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 7 436,908
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010...... 1,075,956
    b From 2011...... 1,309,852
    c From 2012...... 693,081
    d From 2013...... 194,718
    e From 2014...... 1,155,186
    fTotal of lines 3a through e........ 4,428,793
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 1,233,474
    a Applied to 2014, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2015 distributable amount..... 436,908
    e Remaining amount distributed out of corpus 796,566
    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 5,225,359
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		1,075,956
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		4,149,403
    10 Analysis of line 9:
    a Excess from 2011.... 1,309,852
    b Excess from 2012.... 693,081
    c Excess from 2013.... 194,718
    d Excess from 2014.... 1,155,186
    e Excess from 2015.... 796,566
    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).)
    PAUL M MONTRONE SEE NOTE
    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:
    MICHELE M COGAN
    1 LIBERTY LANE EAST SUITE 100
    HAMPTON,NH03842
    (603) 926-5911
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    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
    AFRICAN SISTERS EDUCATION COLLABORA
    2300 ADAMS AVE
    SCRANTON,PA18509     		    EDUCATION 5,000
    ALPHA SIGMA NU
    PO BOX 1881
    MILWAUKEE,WI53201     		    EDUCATION 1,000
    AMERICAN BALLET THEATRE
    890 BROADWAY
    NEW YORK,NY10003     		    ARTS AND CULTURE 5,000
    ANTILLES SCHOOL
    7280 FRENCHMANS BAY 16-1
    ST THOMAS,VI00802     		    EDUCATION 1,000
    BERWICK ACADEMY
    31 ACADEMY ST
    SOUTH BERWICK,ME03908     		  PUBLIC RISING GENERATIONS INITIATIVE 50,000
    BETHANY CHRISTIAN SERVICES
    PO BOX 294
    GRAND RAPIDS,MI495010294     		  PUBLIC PROGRAM SERVICES 3,000
    BETTER ANGELS SOCIETY
    1 ASHFIELD ST 3
    SHELBURNE FALLS,MA01370     		    ARTS & CULTURE 50,000
    BISHOP'S CHARITABLE ASSISTANCE FUND
    PO BOX 310
    MANCHESTER,NH03105     		    CIVIC & COMMUNITY 1,200
    BLUE HILL TROUPE
    PO BOX 286800
    NEW YORK,NY10128     		  PUBLIC ARTS 1,000
    BOSTON COLLEGE
    140 COMMONWEALTH AVE
    CHESTNUT HILL,MA02467     		    EDUCATION 2,000
    BOSTON LYRIC OPERA
    45 FRANKLIN ST
    BOSTON,MA02110     		  PUBLIC CULTURE & ARTS 25,000
    BOSTON SYMPHONY ORCHESTRA
    SYMPHONY HALL
    BOSTON,MA02114     		    ARTS & CULTURE 7,200
    BOSTON YOUTH SYMPHONY ORCHESTRAS
    855 COMMONWEALTH AVE
    BOSTON,MA02215     		    ARTS & CULTURE 1,000
    BRATTLEBORO RETREAT
    PO BOX 803
    BRATTLEBORO,VT05302     		    HEALTH & HUMAN SERVICES 1,000
    CAMP HARBOR VIEW FOUNDATION
    200 CLARENDON ST 60TH FLOOR
    BOSTON,MA02116     		    EDUCATION 35,000
    CATHOLIC RELIEF SERVICES
    209 WEST FAYETTE ST
    BALTIMORE,MD21201     		    RELIGIOUS 25,000
    CENTER FOR NEIGHBORHOOD ENTERPRISE
    1625 K ST NW STE 1200
    WASHINGTON,DC20006     		    COMMUNITY SERVICES 25,000
    CITI PERFORMING ARTS CENTER
    270 TREMONT ST
    BOSTON,MA02116     		    ARTS & CULTURE 10,000
    COLUMBIA BUSINESS SCHOOL
    101 URIS HALL
    NEW YORK,NY10027     		    EDUCATION 11,500
    COVENANT HOUSE
    460 W 41ST ST
    NEW YORK,NY10036     		    CIVIC/COMMUNITY 10,000
    CREATIVE ARTS WORKSHOP FOR KIDS
    520 8TH AVE STE 801A
    NEW YORK,NY10018     		    ARTS & CULTIRE 10,000
    CURRIER MUSEUM OF ART
    201 MYRTLE WAY
    MANCHESTER,NH03104     		    ARTS & CULTURE 2,000
    DAMON RUNYON CANCER RESEARCH FOUND
    55 BROADWAY STE 302
    NEW YORK,NY10006     		    MEDICAL RESEARCH 8,000
    FDN FOR NATIONAL INSTITUTES OF HEAL
    9650 ROCKVILLE PIKE
    BETHESDA,MD20814     		    MEDICAL RESEARCH 55,000
    FRANKLIN PIERCE UNIVERSITY
    40 UNIVERSITY DR
    RINDGE,NH03461     		    EDUCATION 2,000
    GREAT WATERS MUSIC FESTIVAL
    PO BOX 488
    WOLFEBORO,NH03894     		    ARTS & CULTURE 5,000
    HOPE FOR HAITI
    900 BROAD AVE 2C
    NAPLES,FL34102     		    HUMANITARIAN SERVICES 5,000
    HORIZONS FOR HOMELESS CHILDREN
    1705 COLUMBUS AVE
    ROXBURY,MA02119     		    CIVIC & COMMUNITY 2,500
    HUDSON LINK FOR HIGHER EDUCATION IN
    PO BOX 862
    OSSINING,NY10562     		  PRIVATE GENERAL SUPPORT 10,000
    INNOCENCE PROJECT
    100 FIFTH AVE 3RD FLOOR
    NEW YORK,NY10011     		    CIVIC/COMMUNITY 10,000
    KEYSTONE COLLEGE
    ONE COLLEGE GREEN
    LA PLUME,PA18440     		    EDUCATION 10,000
    KINGSWOOD YOUTH CENTER
    565 CENTER ST
    WOLFEBORO,NH03894     		    CIVIC & COMMUNITY 2,000
    KRAFT CENTER LEADERSHIP COUNCIL
    101 MERRIMAC STREET STE 300
    BOSTON,MA02114     		    HEALTH & HUMAN SERVICES 10,000
    LAKES REGION CONSERVATION TRUST
    PO BOX 1097
    MEREDITH,NH03253     		    ENVIRONMENT 10,000
    LIVE FREE OR DIE ALLIANCE
    PO BOX 264
    FREEDOM,NH03836     		  501(C)(3) CIVIC/COMMUNITY 50,000
    MASSACHUSETTS GENERAL HOSPITAL
    PO BOX 55242
    BOSTON,MA02205     		    HEALTH & HUMAN SERVICES 1,000
    MARYWOOD UNIVERSITY
    2300 ADAMS AVENUE
    SCRANTON,PA18509     		    EDUCATION 125,000
    METROPOLITAN OPERA
    LINCOLN CENTER
    NEW YORK,NY10023     		    ARTS & CULTURE 99,300
    METROPOLITAN OPERA GUILD
    70 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		    ARTS & CULTURE 1,000
    MIRACLE CORNERS OF THE WORLD
    152 MADISON AVE STE 1702
    NEW YORK,NY10016     		    CIVIC & COMMUNITY 5,000
    MONADNOCK MUSIC FESTIVAL
    2A CONCORD ST
    PETERBOROUGH,NH03458     		    ARTS & CULTURE 3,000
    MOORE CENTER SERVICES INC
    195 MCGREGOR ST UNIT 400
    MANCHESTER,NH03102     		    CIVIC & COMMUNITY 5,000
    MUSEUM OF SCIENCE
    SCIENCE PARK
    BOSTON,MA02114     		    EDUCATION & CULTURE 2,500
    MYELIN REPAIR FOUNDATION
    18809 COX AVE STE 190
    SARATOGA,CA95070     		    MEDICAL RESEARCH 25,000
    NAT'L LEADERSHIP ROUNDTABLE-CHURCH
    1350 CONNECTICUT AVE NW
    WASHINGTON,DC20036     		    RELIGOUS 25,000
    NATIONAL MS SOCIETY NYC CHAPTER
    733 THIRD AVE THIRD FLOOR
    NEW YORK,NY10017     		    MEDICAL RESEARCH 500
    NEW ENGLAND CONSERVATORY
    290 HUNTINGTON AVE
    BOSTON,MA02115     		    EDUCATION 30,000
    NEW HAMPSHIRE BOAT MUSEUM
    397 CENTER ST
    WOLFEBORO FALLS,NH03896     		    COMMUNITY SERVICE/EDUCATION 27,000
    NEW HAMPSHIRE CATHOLIC CHARITIES
    PO BOX 686
    MANCHESTER,NH03105     		    CIVIC/COMMUNITY 5,000
    NEW HAMPSHIRE INSTITUTE OF ART
    148 CONCORD ST
    MANCHESTER,NH03104     		    ARTS & CULTURE 10,000
    NEW HAMPSHIRE MUSIC FESTIVAL
    52 SYMPHONY LANE
    CENTER HARBOR,NH03226     		    ARTS & CULTURE 15,000
    NEW YORK COMMON PANTRY
    8 EAST 109TH STREET
    NEW YORK,NY10029     		    CIVIC & COMMUNITY 10,000
    NEW YORK PHILHARMONIC
    10 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		  PUBLIC GENERAL SUPPORT 2,000
    OCEAN DISCOVERY INSTITUTE
    1211 PACIFIC BEACH DR
    SAN DIEGO,CA92109     		    COMMUNITY SERVICE/EDUCATION 500
    OPERA AMERICA
    330 SEVENTH AVE 18TH FLOOR
    NEW YORK CITY,NY10001     		    ARTS & CULTURE 5,000
    OPERA ORCHESTRA OF NEW YORK
    344 EAST 63RD ST STE B1
    NEW YORK,NY10065     		    ARTS & CULTURE 5,000
    PORTSMOUTH ATHENAEUM
    9 MARKET SQUARE
    PORTSMOUTH,NH03801     		    EDUCATION & CULTURE 500
    ROGER WILLIAMS UNIVERSITY
    1 OLD FERRY RD
    BRISTOL,RI02809     		    EDUCATION 1,000
    SAINT ANSELM COLLEGE
    100 SAINT ANSELM DR
    MANCHESTER,NH03102     		    EDUCATION 5,000
    SOPHIA INSTITUTE
    PO BOX 5284
    MANCHESTER,NH03108     		    EDUCATION 15,000
    SPALDING YOUTH CENTER
    PO BOX 247
    TILTON,NH03276     		    COMMUNITY SERVICES 10,000
    ST BARTHOLOMEW COMMUNITY PRESCHOOL
    325 PARK AVE
    NEW YORK,NY10022     		    EDUCATION 4,950
    ST IGNATIUS LOYOLA CHURCH
    900 PARK AVE AT 84TH ST
    NEW YORK,NY10028     		    RELIGOUS 2,500
    SUSTAINABLE HARVEST INT'L
    81 NEWBURY NECK RD
    SURRY,ME04684     		    ENVIRONMENTAL/CONSERVATION 15,000
    THE BUCKLEY SCHOOL
    113 EAST 73RD ST
    NEW YORK,NY10021     		    EDUCATION 10,000
    THE GOVERNOR'S ACADEMY
    1 ELM ST
    BYFIELD,MA01922     		    EDUCATION 3,500
    THE MUSIC HALL
    104 CONGRESS ST
    PORTSMOUTH,NH03801     		    ARTS & CULTURE 5,000
    THE RICHARD TUCKER MUSIC FDN
    1790 BROADWAY STE 175
    NEW YORK,NY10019     		    ARTS & CULTURE 2,500
    THE TRUST FOR PUBLIC LAND
    101 MONTGOMERY ST STE 900
    SAN FRANCISCO,CA94104     		    CONSERVATION/PRESERVATION 20,000
    THOMAS MORE COLLEGE
    SIX MANCHESTER ST
    MERRIMACK,NH03054     		    EDUCATION 10,000
    TISCH MULTIPLE SCLEROSIS RESEARCH C
    521 WEST 57TH ST 4TH FLOOR
    NEW YORK,NY10019     		  PUBLIC GENERAL CONTRIBUTION 25,000
    TRICKLE UP PROGRAM
    104 W 27TH ST 12TH FL
    NEW YORK,NY10001     		    POVERTY ALLEVIATION 10,000
    UNH FOUNDATIONS INC
    9 EDGEWOOD ROAD
    DURHAM,NH03842     		    EDUCATION 25,000
    UNIVERSITY OF NEW HAMPSHIRE
    105 MAIN STREET
    DURHAM,NH03824     		    EDUCATION 20,000
    USO WORLD HEADQUARTER
    211 WILSON BLVD
    ARLINGTON,VA22201     		    ARMED SERVICES SUPPORT 500
    WATERAID AMERICA
    232 MADISON AVE STE 1202
    NEW YORK,NY10016     		    CIVIC & COMMUNITY 20,000
    WOLFEBORO AREA CHILDRENS CENTER
    180 SOUTH MAIN ST
    WOLFEBORO,NH03894     		    CIVIC & COMMUNITY 1,000
    WOLFEBORO AREA RECREATION ASSOC
    PO BOX 838
    WOLFEBORO,NH03894     		    CIVIC & COMMUNITY 2,400
    WRIGHT MUSEUM
    PO BOX 1212
    WOLFBORO,NH03894     		    EDUCATION/HISTORY 10,000
    Total .................................bullet 3a 1,082,050
    bApproved for future payment
    Total .................................bullet 3b 0
    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 ...........     		    14 101,618  
    4 Dividends and interest from securities....     14 185,561  
    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.....     14 7,955  
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 -174,189  
    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).. 0 120,945 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13120,945
    (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
    THE PENATES FOUNDATION
     
    Employer identification number

    22-2536075
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015) Page 2
    Name of organization
    THE PENATES FOUNDATION
          		Employer identification number
    22-2536075
    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
     
     

    PAUL M MONTRONE  
    1 LIBERTY LANE EAST SUITE 100
     
    HAMPTON, NH03842

    		$ 8,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
     
     

    THE OXFORD LEAGUE INC  
    1 LIBERTY LANE EAST SUITE 100
     
    HAMPTON, NH03842

    		$ 16,000


    (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.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 3
    Name of organization
    THE PENATES FOUNDATION
          		Employer identification number

    22-2536075
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 4
    Name of organization
    THE PENATES FOUNDATION
          		Employer identification number

    22-2536075
    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 GeneralExplanationAttachment
    Name:
    THE PENATES FOUNDATION
    EIN:
    22-2536075
    Identifier Return Reference Explanation
    STATEMENTS REGARDING ACTIVITIES FOR WHICH FORM 4720 MAY BE REQUIRED FORM 990-PF, PART VII-B THE FOUNDATION PAID MANAGEMENT FEES TO LIBERTY LANE SERVICE CO. LLC AND BAYBERRY FINANCIAL SERVICES CORP., WHO IN TURN PAID COMPENSATION TO MICHELE COGAN, AN OFFICER OF THE FOUNDATION. THE MANAGEMENT FEES ALSO INCLUDE FEES FOR OTHER ADMINISTRATIVE SERVICES.

    TY 2015 InvestmentsOtherSchedule2
    Name:
    THE PENATES FOUNDATION
    EIN:
    22-2536075
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BENNETT RESTRUCTURING FUND FMV 919,165 919,165
    BLACKSTONE DISTRESSED FMV 2,313 2,313
    DELTEC BOND FUND AT COST 0 0
    SCS FINANCIAL STATE STREET FMV 1,606 1,606
    WR HUFF-NOMINEE FMV 251 251
    PERSPECTA TRUST FMV 7,336,684 7,336,684

    TY 2015 OtherAssetsSchedule
    Name:
    THE PENATES FOUNDATION
    EIN:
    22-2536075
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PREPAID EXPENSES 24,250    


    TY 2015 OtherDecreasesSchedule
    Name:
    THE PENATES FOUNDATION
    EIN:
    22-2536075
    Description Amount
    FEDERAL TAX PAYMENTS 17,823
    UNREALIZED LOSSES 414,596
    LIMITED DONATIONS 3,500


    TY 2015 OtherExpensesSchedule
    Name:
    THE PENATES FOUNDATION
    EIN:
    22-2536075
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEES & LICENSES 3,548 3,548 0 0
    OFFICE EXPENSE 849 425 0 424
    OTHER LOSSES 63,498 63,498 0 0


    TY 2015 OtherIncomeSchedule2
    Name:
    THE PENATES FOUNDATION
    EIN:
    22-2536075
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    SECTION 1256 7,783 7,783 7,783
    OTHER INCOME 172 172 172


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    THE PENATES FOUNDATION
    EIN:
    22-2536075
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADVISORY FEES 13,920 13,920 0 0
    LIBERTY LANE SVC - MANAGEMENT FEES 75,500 0 0 75,500
    BAYBERRY MANAGEMENT - MANAGEMENT FEES 75,500 0 0 75,500
    MANAGEMENT FEES INVESTMENTS 31,284 31,284 0 0


    TY 2015 TaxesSchedule
    Name:
    THE PENATES FOUNDATION
    EIN:
    22-2536075
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES PAID 1,279 1,279 0 0