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 12-01-2015 , and ending 11-30-2016
Name of foundation
CAROL FRANC BUCK FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 6085
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
INCLINE VILLAGE, NV89450
A Employer identification number

88-0163505
B Telephone number (see instructions)

(775) 831-6366
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$11,581,775J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 8,371 8,371 8,371
4 Dividends and interest from securities... 305,247 305,247 305,247
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 540,152
b Gross sales price for all assets on line 6a 1,158,528
7 Capital gain net income (from Part IV, line 2)... 540,152
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 853,770 853,770 313,618
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 3,600 360   3,240
14 Other employee salaries and wages...... 52,805 5,281   47,524
15 Pension plans, employee benefits....... 7,365 737   6,628
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 15,139 1,514   13,625
c Other professional fees (attach schedule).... Click to see attachment 59,686 5,969   53,717
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 8,888 889   7,999
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 69,234 6,922   62,312
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 216,717 21,672   195,045
25 Contributions, gifts, grants paid....... 992,500 992,500
26 Total expenses and disbursements. Add lines 24 and 25 1,209,217 21,672   1,187,545
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -355,447
b Net investment income (if negative, enter -0-) 832,098
c Adjusted net income (if negative, enter -0-)... 313,618
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............. 18,986 18,864 18,864
2 Savings and temporary cash investments......... 244,034 93,501 93,501
3 Accounts receivable bullet105,792
Less: allowance for doubtful accounts bullet   49,026 105,792 105,792
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)....... 2,452,813 Click to see attachment2,311,561 8,249,350
c Investments—corporate bonds (attach schedule)....... 517,653 Click to see attachment256,368 250,594
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,632,769 Click to see attachment2,772,879 2,821,837
14 Land, buildings, and equipment: basis bullet12,956
Less: accumulated depreciation (attach schedule) bullet12,956      
15 Other assets (describe bullet) Click to see attachment58,894 Click to see attachment41,837 Click to see attachment41,837
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 5,974,175 5,600,802 11,581,775
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment4,500 Click to see attachment11,217
23 Total liabilities (add lines 17 through 22)......... 4,500 11,217
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........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 5,969,675 5,589,585
30 Total net assets or fund balances (see instructions)..... 5,969,675 5,589,585
31 Total liabilities and net assets/fund balances (see instructions). 5,974,175 5,600,802
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
5,969,675
2
Enter amount from Part I, line 27a .....................
2
-355,447
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
5,614,228
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
24,643
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
5,589,585
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 250 APPLE INC P 2009-07-01 2015-12-02
b 200 BERKSHIRE HATHAWAY P 1992-12-15 2015-12-02
c 500 COCA COLA INC P 1987-05-05 2015-12-02
d 250 DANAHER CORP P 1996-07-25 2015-12-02
e 1000 GENERAL ELECTRIC P 1988-10-03 2015-12-02
250 UNITED TECHNOLOGIES CORP P 1991-06-12 2015-12-02
250 WALT DISNEY CO P 2008-12-03 2015-12-02
250000 US BANCORP BOND P 2012-04-11 2016-02-01
500 ALTRIA GROUP P 1987-03-18 2016-03-21
1000 GENERAL ELECTRIC P 1988-10-03 2016-03-21
250 JOHNSON & JOHNSON P 1994-10-07 2016-03-21
1000 MICROSOFT P 1993-02-10 2016-03-21
500 PHILLIP MORRIS INTL P 1987-03-18 2016-03-21
3500 TRINITY INDUSTRIALS P 2015-07-21 2016-03-21
500 ABBVIE INC P 1988-05-19 2016-05-18
500 ALTRIA GROUP P 1987-03-18 2016-05-18
500 BRISTOL MYERS SQUIBB P 1988-10-03 2016-05-18
1000 GENERAL ELECTRIC P 1988-10-03 2016-05-18
250 PHILLIP MORRIS INTL P 1987-03-18 2016-05-18
1000 GENERAL ELECTRIC P 1988-10-03 2016-08-02
250 JOHNSON & JOHNSON P 1994-10-07 2016-08-02
250 PHILLIP MORRIS INTL P 1987-03-18 2016-08-02
250 UNITED TECHNOLOGIES CORP P 1991-06-12 2016-08-02
562 VODAFONE GROUP P 1995-10-31 2016-08-02
2028 VODAFONE GROUP P 1987-11-09 2016-08-02
1500 VANGUARD SHORT TERM BOND P 2013-04-11 2016-10-24
(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 29,166   5,141 24,025
b 27,049   4,475 22,574
c 21,398   1,342 20,056
d 23,994   1,210 22,784
e 29,951   3,602 26,349
23,873   1,421 22,452
28,518   5,415 23,103
250,000   261,285 -11,285
30,937   802 30,135
31,110   3,602 27,508
26,852   3,273 23,579
53,680   2,680 51,000
49,352   1,842 47,510
67,586   148,007 -80,421
30,182   1,447 28,735
31,484   802 30,682
35,519   5,232 30,287
29,613   3,602 26,011
24,771   921 23,850
31,021   3,602 27,419
31,151   3,273 27,878
24,991   921 24,070
26,475   1,421 25,054
17,168   13,574 3,594
62,007   19,176 42,831
120,680   120,308 372
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       24,025
b       22,574
c       20,056
d       22,784
e       26,349
      22,452
      23,103
      -11,285
      30,135
      27,508
      23,579
      51,000
      47,510
      -80,421
      28,735
      30,682
      30,287
      26,011
      23,850
      27,419
      27,878
      24,070
      25,054
      3,594
      42,831
      372
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 2 540,152
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 -80,421
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 1,015,077 12,572,755 0.08074
2013 1,009,569 13,050,797 0.07736
2012 1,072,311 12,459,824 0.08606
2011 915,394 12,903,153 0.07094
2010 1,017,678 12,069,765 0.08432
2
Total of line 1, column (d) .....................
20.399413
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
0.079883
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
11,690,890
5
Multiply line 4 by line 3......................
5
933,903
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
8,321
7
Add lines 5 and 6........................
7
942,224
8
Enter qualifying distributions from Part XII, line 4.............
8
1,187,545
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 8,321
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 8,321
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 8,321
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 50,158
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 50,158
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 41,837
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet41,837 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
 
No
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)
    bullet
    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 ofbulletMARTI WINSLOW Telephone no.bullet (775) 831-6366

    Located atbulletP O BOX 6085INCLINE VILLAGENV ZIP+4bullet89450
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
    No
    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
     
    No
    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
     
    No
    .........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
     
    No
    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
    CAROL F BUCK TRUSTEE
    10.00     		3,600    
    P O BOX 6085
    INCLINE VILLAGE,NV89450
    CHRISTIAN P ERDMAN TRUSTEE
    0.00     		0    
    PO BOX 291
    TETON VILLAGE,WY83025
    HELEN J O'HANLON TRUSTEE
    0.00     		0    
    1661 PINE ST 311
    SAN FRANCISCO,CA94109
    MCKENZIE ERDMAN Trustee
    0.00     		0    
    PO BOX 291
    TETON VILLAGE,WY83025
    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 THE FOUNDATION SUPPORTS PERFORMING AND VISUAL ARTS THROUGHOUT THE WESTERN UNITED STATES. 18 ORGANIZATIONS RECEIVED GRANTS TOTALING $992,500 PLUS EXPENSES OF $216,717. 0
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2015)
    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
    11,402,943
    b
    Average of monthly cash balances.......................
    1b
    344,825
    c
    Fair market value of all other assets (see instructions)................
    1c
    121,156
    d
    Total (add lines 1a, b, and c).........................
    1d
    11,868,924
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    11,868,924
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    178,034
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    11,690,890
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    584,545
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    584,545
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    8,321
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    8,321
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    576,224
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    576,224
    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
    576,224
    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
    1,187,545
    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
     
    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
    1,187,545
    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
    8,321
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,179,224
    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 7 576,224
    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...... 424,858
    b From 2011...... 282,810
    c From 2012...... 458,011
    d From 2013...... 374,052
    e From 2014...... 406,123
    fTotal of lines 3a through e........ 1,945,854
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 1,187,545
    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)........     		0
    d Applied to 2015 distributable amount..... 576,224
    e Remaining amount distributed out of corpus 611,321
    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 2,557,175
    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 ..........     		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) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		424,858
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		2,132,317
    10 Analysis of line 9:
    a Excess from 2011.... 282,810
    b Excess from 2012.... 458,011
    c Excess from 2013.... 374,052
    d Excess from 2014.... 406,123
    e Excess from 2015.... 611,321
    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).)
    CAROL F BUCK
    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
    HOUSTON GRAND OPERA
    510 PRESTON AVE
    HOUSTON,TX77002     		NONE   THE RING SERIES 100,000
    CHAMBER MUSIC SAN FRANCISCO
    1314 34TH AVENUE
    SAN FRANCISCO,CA94122     		NONE   SUPPORT FOR OPERATIONS IN 2009-2010 SEASON 10,000
    PORTLAND OPERA
    211 SE CARUTHERS STREET
    PORTLAND,OR97214     		NONE   MOZART'S THE MAGIC FLUTE 125,000
    SAN FRANCISCO OPERA
    301 VAN NESS AVENUE
    SAN FRANCISCO,CA94102     		NONE   VERDI'S DON CARLO 50,000
    SAN FRANCISCO CONSERVATORY OF MUSIC
    50 OAK STREET
    SAN FRANCISCO,CA94102     		NONE   CAROL FRANC BUCK ENDOWED FACULTY CHAIR 400,000
    LAKE TAHOE SUMMERFEST
    PO BOX 7930
    INCLINE VILLAGE,NV89450     		NONE   2016 SUMMERFEST CONCERTS 150,000
    ARIZONA OPERA
    1636 N CENTRAL AVENUE
    PHOENIX,AZ85004     		NONE   ARIZONE LADE AND FLORENCIA EN EL AMAZONAS IN 2016 75,000
    SAN FRANCISCO SYMPHONY
    DAVIES SYMPHONY HALL
    SAN FRANCISCO,CA94102     		NONE   DAS LIED VON DER ERDE IN 2016 30,000
    THE SANTA FE OPERA
    PO BOX 2408
    SANTA FE,NM87504     		NONE   COLD MOUNTAIN. 50,000
    SIERRA NEVADA MASTERWORKS CHORALE
    925 RIVERSIDE DRIVE STE 1
    RENO,NV89503     		NONE   5 PERFORMANCES AT VARIOUS LOCATIONS FOR 2016-2017 2,500
    Total .................................bullet 3a 992,500
    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 8,371  
    4 Dividends and interest from securities....     14 305,247  
    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 ............     		        540,152
    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)..   313,618 540,152
    13Total. Add line 12, columns (b), (d), and (e)..................
    13853,770
    (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: 15000324
    Software Version: 2015v3.0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 15,139 1,514 0 13,625

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BERKSHIRE HATHAWAY 1.6% 250,000 256,368 250,594
    US BANCORP 3.442% 250,000    

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    DANAHER CORP #3000 11,073 234,510
    GENERAL ELECTRIC CO #7000 25,215 215,320
    IBM CORP #1000 25,056 162,220
    MICROSOFT CORP #6000 16,078 361,560
    UNITED TECHNOLOGIES #2250 12,790 242,370
    ABBOTT LABS #4000 10,677 152,280
    BRISTOL MYERS SQUIBB CO #3500 36,623 197,540
    COCA COLA CO #5000 13,423 201,750
    JOHNSON & JOHNSON #2000 26,187 222,600
    KIMBERLY CLARK CORP #1000 22,922 115,610
    WAL MART STORES INC #2500 30,156 176,075
    EXXON MOBIL CORP #4500 40,688 392,850
    BERKSHIRE HATHAWAY INC #2500 55,936 393,600
    FRANKLIN RES INC #3000 6,939 117,780
    J P MORGAN CHASE & CO #4250 40,427 340,723
    VODAFONE GROUP PLC-SP #2590    
    ROYAL DUTCH PETROLEUM CO #4000 94,015 204,400
    SCHLUMBERGER LTD #3000 38,029 252,150
    ALTRIA GROUP INC #3000 4,811 191,790
    DOMINION RES INC #2000 61,000 146,580
    PFIZER INC #6001 107,989 192,872
    AT&T INC COM #4000 29,675 154,520
    AUTOMATIC DATA PROCESSING INC. #1750 59,090 168,035
    KRAFT HEINZ COMPANY INC #922 2,469 75,281
    PROCTER & GAMBLE CO #2500 34,913 206,150
    AIR PROD & CHEMICALS # 750 31,871 108,345
    APPLE INC #2000 41,126 221,040
    WALT DISNEY CO #1750 37,905 173,460
    MCDONALDS CORP #1250 74,705 149,088
    MONSANTO CO NEW DEL #1250 101,876 128,388
    PHILLIP MORRIS INTL INC #2250 8,290 198,630
    WELLS FARGO & CO NEW #2750 73,598 145,530
    ECOLAB #1500 73,220 175,095
    TRAVELERS COMPANIES #2500 134,158 283,375
    VERIZON COMMUNICATIONS #4249 140,919 212,025
    AFFILIATED MANAGERS GRP #750 75,669 111,075
    STERICYCLE INC #1250 108,613 91,213
    UNION PACIFIC CORP #1500 80,953 151,995
    YUM BRANDS INC #1400 67,416 88,746
    MONDELEZ INTL INC #2768 4,570 114,152
    ABBVIE INC #2500 7,237 152,000
    ACCENTURE PLC CL A #1250 96,752 149,288
    CARMAX INC #2500 117,823 144,475
    TRINITY INDUSTRIES INC #3500    
    NXP SEMICONDUCTORS #1250 122,307 123,938
    FORTIVE CORPORATION #1500 3,445 82,485
    HEALTHCARE SVC GROUP #2000 70,837 77,900
    VERSUM MATERIALS INC #375.0 2,991 9,173
    YUM CHINA HOLDINGS #1400 29,099 39,368

    TY 2015 InvestmentsOtherSchedule2
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    VANGUARD INTERM TERM #55182.125 AT COST 500,000 537,474
    VANGUARD SHORT TERM #47209.636 AT COST 500,000 502,783
    ISHARES TR MSCI EAFE FD #6000 AT COST 280,026 340,740
    JP MORGAN EXCH TRD AMJ #4500 AT COST 161,403 135,990
    POWERSHARES ETF #12500 AT COST 314,026 289,250
    VANGUARD CORP BOND ETF #11500 AT COST 916,200 913,330
    AMERICAN TOWER CORP #1000. AT COST 101,224 102,270

    TY 2015 LandEtcSchedule2
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Machinery and Equipment 12,956 12,956    


    TY 2015 OtherAssetsSchedule
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PREPAID EXCISE TAXES 58,894 41,837 41,837


    TY 2015 OtherExpensesSchedule
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ANSWERING SERVICE 1,599 160   1,439
    AUTO EXPENSE 3,142 314   2,828
    BANK CHARGES 104 10   94
    BENEFITS 6,121 612   5,509
    DUES 219 22   197
    ENTERTAINMENT 1,886 189   1,697
    INSURANCE 1,684 168   1,516
    LICENSES & FEES 50 5   45
    MAINTENANCE 804 80   724
    MISCELLANEOUS 170 17   153
    OFFICE EXPENSE 3,889 389   3,500
    RENT 40,113 4,011   36,102
    TELEPHONE 7,921 792   7,129
    UTILITIES 1,532 153   1,379


    TY 2015 OtherLiabilitiesSchedule
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Description Beginning of Year - Book Value End of Year - Book Value
    PAYROLL LIABILITIES 1,662 2,246
    ACCRUED EXPENSES 2,838 8,971


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CUSTODIAL FEES 59,686 5,969 0 53,717


    TY 2015 TaxesSchedule
    Name:
    CAROL FRANC BUCK FOUNDATION
    EIN:
    88-0163505
    Software ID:
    15000324
    Software Version:
    2015v3.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAXES 8,321 832   7,489
    FOREIGN TAXES 567 57   510