TY 2015 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

2015

Open to Public Inspection

For calendar year 2015, or tax year beginning 10-01-2015 , and ending 09-30-2016

Name of foundation
ARTHUR F & ALICE E ADAMS

Number and street (or P.O. box number if mail is not delivered to street address)1525 W WT HARRIS BLVD D1114-044
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CHARLOTTE, NC28262

A Employer identification number

65-6003785

B Telephone number (see instructions)

(336) 747-8186

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

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

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

$14,653,147J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check Sch. B .............
3	Interest on savings and temporary cash investments	142		142
4	Dividends and interest from securities...	375,822		375,622
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		111,998
b	Gross sales price for all assets on line 6a 4,568,066
7	Capital gain net income (from Part IV, line 2)...			111,998
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	487,962		487,762
13	Compensation of officers, directors, trustees, etc.	248,681		159,853		88,828
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		1,400	0	0	1,400
c	Other professional fees (attach schedule)....		6,847	6,847		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		15,160	5,254		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......	2,118		0	0	2,118
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		970	970
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	275,176		172,924	0	92,346
25	Contributions, gifts, grants paid.......	372,500				372,500
26	Total expenses and disbursements. Add lines 24 and 25	647,676		172,924	0	464,846
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-159,714
b	Net investment income (if negative, enter -0-)			314,838
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

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

Form 990-PF (2015)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	361,065	868,295	868,295
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	1,544,234	1,254,134	1,290,720
	b	Investments—corporate stock (attach schedule).......	7,773,357	8,048,651	8,773,379
	c	Investments—corporate bonds (attach schedule).......	3,008,696	3,437,241	3,474,922
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	1,323,904	242,796	245,831
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	14,011,256	13,851,117	14,653,147
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	14,011,256	13,851,117
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions).....	14,011,256	13,851,117
	31	Total liabilities and net assets/fund balances (see instructions).	14,011,256	13,851,117

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............

14,011,256

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

-159,714

Other increases not included in line 2 (itemize) bullet

9,869

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

13,861,411

Decreases not included in line 2 (itemize) bullet

10,294

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

13,851,117

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	9551.098 ABERDEEN EMERG MARKETS-INST #5840		2012-03-01	2016-01-13
b	125. ADVANCE AUTO PTS INC		2013-08-09	2015-11-09
c	229. AIR LIQUIDE - ADR		2011-11-11	2016-06-07
d	373. ALLIANZ SE ADR		2011-11-11	2016-07-18
e	20. ALTRIA GROUP INC		2015-08-26	2016-04-14
	25. ALTRIA GROUP INC		2015-08-26	2016-07-22
	24495.885 AMER CENT SMALL CAP GRWTH INST #336		2009-03-27	2016-08-18
	242. ANHEUSER-BUSCH INBEV SPN ADR		2012-08-28	2015-12-18
	285. APPLE INC		2013-04-26	2016-02-05
	299. ARM HOLDINGS PLC - ADR		2012-07-31	2016-08-30
	58. ARM HOLDINGS PLC - ADR		2012-07-31	2016-09-22
	114. ARM HOLDINGS PLC - ADR		2016-02-10	2016-09-22
	50. ASTRAZENECA PLC ADR		2015-08-25	2016-02-18
	61. ATLAS COPCO AB ADR		2011-11-11	2016-02-11
	12. BASF AKTIENGESELLSCHAFT - LVL 1 ADR		2015-08-25	2015-11-04
	1142. BG GROUP PLC - ADR		2014-12-03	2016-03-07
	71. BP PLC - ADR		2015-08-26	2016-02-25
	389. BANCO BILBAO VIZCAYA ARGENT- ADR		2016-06-17	2016-06-28
	50000. BARCLAYS BANK PLC 5.000% 9/22/16		2013-06-17	2016-09-22
	53. BAYERISCHE MOTOREN WERKE (BMW) ADR		2013-02-12	2016-06-08
	78. BHP BILLITON LIMITED - ADR		2016-06-17	2016-06-28
	10. BRITISH AMERICAN TOBACCO P.L.C - ADR		2016-06-17	2016-08-05
	485. BROWN & BROWN INC		2013-12-06	2016-07-13
	210. CDW CORP/DE		2014-05-22	2015-11-02
	86. CSL LTE-SPONSORED ADR		2011-11-11	2016-03-30
	12000. CVS CAREMARK CORP 5.750% 6/01/17		2008-08-27	2016-05-27
	24. CANADIAN NATL RR CO COM		2011-11-11	2016-02-11
	75. CARDINAL HEALTH INC COM		2014-11-17	2016-02-05
	160. CARDINAL HEALTH INC COM		2015-04-14	2016-05-31
	73. CARDINAL HEALTH INC COM		2015-07-13	2016-05-31
	50. CELGENE CORP COM		2014-09-29	2015-12-22
	27. CHIPOTLE MEXICAN GRILL INC		2014-11-17	2016-01-11
	335. COLFAX CORPORATION		2015-01-16	2015-10-13
	39. CONSTELLATION BRANDS INC		2014-12-29	2016-05-31
	55. CUMMINS INC.		2013-11-14	2016-08-29
	33. DASSAULT SYSTEMES S.A. - ADR		2011-11-11	2016-02-12
	19. DASSAULT SYSTEMES S.A. - ADR		2011-11-11	2016-06-08
	67. DEUTSCHE BOERSE AG ADR		2015-08-25	2015-11-04
	35000. DIRECTV HOLDINGS/FIN 3.950% 1/15/25		2016-02-18	2016-03-21
	145. WALT DISNEY CO		2012-08-28	2016-02-08
	11157.028 DODGE & COX INT'L STOCK FD #1048		2014-11-19	2016-06-15
	25000. DR PEPPER SNAPPLE GR 2.900% 1/15/16		2011-02-15	2016-01-15
	828. E M C CORP MASS		2014-06-25	2015-10-23
	76. ENI SPA - ADR		2016-06-17	2016-06-28
	55. ECOLAB INC		2014-11-17	2016-05-31
	50. FACEBOOK INC		2014-08-27	2016-03-28
	127.63 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2015-10-15
	175.83 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2015-11-15
	117.89 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2015-12-15
	63.31 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2016-01-15
	74. FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2016-02-15
	65.39 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2016-03-15
	85.41 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2016-04-15
	86.74 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2016-05-15
	122.92 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2016-06-15
	81.4 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2016-07-15
	71.08 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2016-08-15
	78.63 FHLMC POOL #G18106 5.500% 3/01/21		2006-03-24	2016-09-15
	739.49 FHLMC POOL #G18588 3.500% 2/01/31		2016-03-04	2016-04-15
	1476.87 FHLMC POOL #G18588 3.500% 2/01/31		2016-03-04	2016-05-15
	1287.16 FHLMC POOL #G18588 3.500% 2/01/31		2016-03-04	2016-06-15
	485.82 FHLMC POOL #G18588 3.500% 2/01/31		2016-03-04	2016-07-15
	53425.24 FHLMC POOL #G18588 3.500% 2/01/31		2016-03-04	2016-08-10
	2257.95 FHLMC POOL #G18588 3.500% 2/01/31		2016-03-04	2016-08-15
	374.09 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2015-10-15
	100.1 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2015-11-15
	101.24 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2015-12-15
	102.01 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2016-01-15
	114.55 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2016-02-15
	105.32 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2016-03-15
	323.65 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2016-04-15
	234.51 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2016-05-15
	96.9 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2016-06-15
	442.24 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2016-07-15
	87.89 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2016-08-15
	138.21 FHLMC POOL #J01366 5.500% 4/01/21		2007-10-15	2016-09-15
	130.04 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2015-10-15
	139.37 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2015-11-15
	130.71 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2015-12-15
	144.88 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2016-01-15
	2624.67 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2016-02-15
	117.46 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2016-03-15
	136.28 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2016-04-15
	127.43 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2016-05-15
	118.43 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2016-06-15
	137.67 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2016-07-15
	1354.14 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2016-08-15
	121.1 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2016-09-15
	10.83 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2015-10-15
	756.02 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2015-11-15
	8.67 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2015-12-15
	8.71 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2016-01-15
	8.76 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2016-02-15
	8.81 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2016-03-15
	8.86 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2016-04-15
	8.95 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2016-05-15
	8.95 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2016-06-15
	9. FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2016-07-15
	9.05 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2016-08-15
	9.1 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2016-09-15
	4.36 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2015-10-15
	4.42 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2015-11-15
	4.41 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2015-12-15
	4.43 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2016-01-15
	4.47 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2016-02-15
	4.48 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2016-03-15
	4.52 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2016-04-15
	4.53 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2016-05-15
	4.56 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2016-06-15
	5.36 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2016-07-15
	4.28 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2016-08-15
	4.29 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2016-09-15
	55000. FED NATL MTG ASSN 5.000% 3/15/16		2006-06-22	2016-03-15
	5.77 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2015-10-25
	5.8 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2015-11-25
	9.19 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2015-12-25
	5.81 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2016-01-25
	5.84 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2016-02-25
	5.93 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2016-03-25
	5.96 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2016-04-25
	531.53 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2016-05-25
	4.25 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2016-06-25
	4.28 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2016-07-25
	4.3 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2016-08-25
	4.32 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2016-09-25
	81.21 FNMA POOL #582609 6.000% 6/01/16		2001-07-02	2015-10-25
	69.04 FNMA POOL #582609 6.000% 6/01/16		2001-07-02	2015-11-25
	70.83 FNMA POOL #582609 6.000% 6/01/16		2001-07-02	2015-12-25
	34.32 FNMA POOL #582609 6.000% 6/01/16		2001-07-02	2016-01-25
	39.07 FNMA POOL #582609 6.000% 6/01/16		2001-07-02	2016-02-25
	30.1 FNMA POOL #582609 6.000% 6/01/16		2001-07-02	2016-03-25
	25.64 FNMA POOL #582609 6.000% 6/01/16		2001-07-02	2016-04-25
	23.98 FNMA POOL #582609 6.000% 6/01/16		2001-07-02	2016-05-25
	6.12 FNMA POOL #582609 6.000% 6/01/16		2001-07-02	2016-06-25
	11.79 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2015-10-25
	11.85 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2015-11-25
	11.92 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2015-12-25
	11.99 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2016-01-25
	12.05 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2016-02-25
	12.12 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2016-03-25
	12.19 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2016-04-25
	13.13 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2016-05-25
	13.2 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2016-06-25
	13.28 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2016-07-25
	13.35 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2016-08-25
	13.42 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2016-09-25
	613.22 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2016-09-25
	125.71 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2015-10-25
	78.87 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2015-11-25
	79.57 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2015-12-25
	80.05 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2016-01-25
	844.77 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2016-02-25
	67.02 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2016-03-25
	68.28 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2016-04-25
	67.18 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2016-05-25
	238.96 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2016-06-25
	291.38 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2016-07-25
	55.36 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2016-08-25
	56.47 FNMA POOL #836631 5.000% 10/01/20		2007-10-15	2016-09-25
	39.45 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2015-10-25
	81.25 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2015-11-25
	40.89 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2015-12-25
	76.87 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2016-01-25
	40.99 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2016-02-25
	41.59 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2016-03-25
	134.39 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2016-04-25
	42.38 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2016-05-25
	41.48 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2016-06-25
	68.36 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2016-07-25
	39.98 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2016-08-25
	40.12 FNMA POOL #880971 5.500% 10/01/21		2007-01-08	2016-09-25
	370.19 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2015-10-25
	433.87 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2015-11-25
	354.21 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2015-12-25
	336.79 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2016-01-25
	322.51 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2016-02-25
	321.39 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2016-03-25
	307.81 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2016-04-25
	329.18 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2016-05-25
	272.87 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2016-06-25
	283. FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2016-07-25
	334.53 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2016-08-25
	264.05 FNMA POOL #889568 5.500% 3/01/20		2012-03-07	2016-09-25
	.5 FORTIVE CORP		2012-05-09	2016-07-21
	12000. FREEPORT-MCMORAN C 3.550% 3/01/22		2012-02-08	2016-02-02
	31. FRESENIUS MEDICAL CARE ADR		2011-11-11	2016-02-11
	3.76 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2015-10-15
	3.79 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2015-11-15
	3.82 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2015-12-15
	3.83 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2016-01-15
	3.86 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2016-02-15
	3.89 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2016-03-15
	3.91 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2016-04-15
	3.94 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2016-05-15
	3.97 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2016-06-15
	4. GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2016-07-15
	4.03 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2016-08-15
	4.06 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2016-09-15
	17. GENERAL MILLS INC		2015-08-26	2016-07-22
	20. GENERAL MILLS INC		2015-08-26	2016-08-02
	197. GILEAD SCIENCES INC		2014-11-17	2015-11-18
	20. GLAXOSMITHKLINE PLC - ADR		2015-08-25	2016-05-20
	32. GLAXOSMITHKLINE PLC - ADR		2015-08-26	2016-07-13
	105. GOLDMAN SACHS GROUP INC		2012-08-28	2016-06-13
	40000. GOLDMAN SACHS GROUP 6.250% 9/01/17		2014-01-14	2016-06-10
	124. HCP INC		2015-08-26	2016-01-06
	27. HSBC - ADR		2015-08-25	2016-02-18
	525. HSBC - ADR		2014-02-07	2016-03-02
	2. HSBC - ADR		2014-02-07	2016-03-16
	48. HSBC - ADR		2015-08-25	2016-05-20
	50000. HSBC FINANCE CORP 5.500% 1/19/16		2011-10-21	2016-01-19
	26. HASBRO INC		2015-08-25	2016-05-20
	196. THE HERSHEY COMPANY		2015-12-04	2016-06-30
	1705. ICICI BANK LTD. - ADR		2011-11-11	2016-02-23
	188. IHS INC		2016-07-13	2016-07-13
	34. IHS INC		2015-08-24	2016-07-13
	154. IHS INC		2015-02-25	2016-07-13
	154. IMPERIAL OIL LTD COM-		2011-11-11	2015-11-05
	201. IMPERIAL OIL LTD COM-		2014-03-12	2016-04-08
	1229. ISHARES RUSSELL MID-CAP GROWTH		2012-08-24	2016-07-12
	521. ITAU UNIBANCO H-SPON PRF ADR		2013-05-24	2016-03-28
	20. JOHNSON & JOHNSON		2016-06-17	2016-06-28
	11. JOHNSON & JOHNSON		2015-08-26	2016-07-13
	10. JOHNSON & JOHNSON		2016-06-17	2016-08-05
	487. JOHNSON CONTROLS INC		2013-01-22	2016-04-26
	139. KINDER MORGAN INC/DELAWARE		2015-09-25	2015-12-07
	177. KONE OYJ-B-UNSPONSORED ADR		2015-02-02	2016-05-19
	19. KRAFT HEINZ CO/THE		2015-08-26	2016-04-14
	62. KRAFT HEINZ CO/THE		2015-08-26	2016-05-17
	20. KRAFT HEINZ CO/THE		2015-08-26	2016-07-13
	790. LIBERTY VENTURES - SER A		2015-11-09	2016-02-08
	27. ELI LILLY & CO COM		2015-08-25	2016-05-20
	4. LOCKHEED MARTIN CORP		2015-08-25	2016-05-20
	11000. MARATHON OIL CORP 6.000% 10/01/17		2007-12-20	2016-03-08
	17. MARKEL HOLDINGS		2012-09-04	2015-12-07
	20. MCDONALDS CORP		2015-08-26	2016-02-03
	73. MICHELIN (CGDE) ADR		2015-08-25	2016-02-18
	42. MONOTARO CO LTD-UNSP ADR		2013-11-13	2016-06-08
	230. MONSANTO CO NEW		2014-11-17	2016-03-28
	59. MONSTER BEVERAGE CORP		2014-11-17	2015-11-18
	345. MOTOROLA SOLUTIONS, INC.		2015-04-27	2016-04-28
	282. NESTLE S.A. REGISTERED SHARES - ADR		2012-08-28	2016-04-26
	16. NESTLE S.A. REGISTERED SHARES - ADR		2015-08-25	2016-08-05
	114. NOVO NORDISK A/S - ADR		2013-06-11	2015-11-20
	244. NOVO NORDISK A/S - ADR		2014-08-28	2016-02-09
	30000. OCCIDENTAL PETROLEUM 2.500% 2/01/16		2011-04-01	2016-02-01
	87. OMEGA HEALTHCARE INVS INC COM		2015-08-26	2016-07-13
	547. ORACLE CORPORATION		2012-08-28	2016-03-16
	9569.892 OPPENHEIMER DEVELOPING MKT-I #799		2012-08-24	2016-01-07
	18. PHILIP MORRIS INTERNATIONAL IN		2015-08-26	2016-04-14
	159. POLARIS INDS INC COM		2014-11-17	2015-11-18
	83. PRECISION CASTPARTS CORP		2015-06-30	2016-01-29
	24. PROCTER & GAMBLE CO		2015-08-26	2016-07-22
	20. REALTY INCOME CORP COM		2015-08-26	2016-08-02
	50. REYNOLDS AMERICAN INC		2015-08-26	2016-02-03
	52. REYNOLDS AMERICAN INC		2015-08-26	2016-07-13
	35000. REYNOLDS AMERICAN IN 1.050% 10/30/15		2013-03-13	2015-10-30
	27. RIO TINTO PLC - ADR		2015-08-25	2016-06-28
	290. ROSS STORES INC		2013-07-22	2016-08-09
	119. ROYAL DUTCH SHELL PLC ADR		2015-08-26	2016-01-07
	68. ROYAL DUTCH SHELL PLC ADR		2016-06-17	2016-06-28
	1268. SPDR S & P 500 ETF TRUST		2015-08-27	2016-03-24
	189. SANDS CHINA LTD-UNSPONS ADR		2014-05-14	2016-01-22
	76. SANDS CHINA LTD-UNSPONS ADR		2015-05-21	2016-01-22
	1033. SCHNEIDER ELECTRIC SE - ADR		2011-11-11	2015-10-01
	1155. BANCO BILBAO VIZCAYA ARGENT 11/15/15		2015-11-02	2015-11-02
	38. SHIRE PLC ADR		2014-10-16	2015-10-19
	187. STERICYCLE INC COM		2014-11-17	2016-05-31
	53. STERICYCLE INC COM		2015-11-18	2016-05-31
	1068. SVENSKA HANDELSB-A-UNSP ADR		2012-07-20	2016-04-12
	208. SYSMEX CORP-UNSPON ADR		2012-05-23	2016-06-21
	160. TJX COMPANIES INC		2012-08-28	2016-01-26
	112. TAIWAN SEMICONDUCTOR MANUFACTU - ADR		2011-11-11	2016-02-22
	403. TEAM HEALTH HOLDINGS INC		2014-11-17	2016-08-12
	2174. UNI CHARM CORPORATION ADR		2011-11-11	2016-01-06
	2197. UNI CHARM CORPORATION ADR		2011-11-11	2016-05-20
	278. UNION PACIFIC CORP		2013-11-21	2015-12-22
	20000. U S TREASURY NOTES 5.125% 5/15/16		2011-01-31	2015-12-17
	10000. U S TREASURY NOTES 5.125% 5/15/16		2011-01-31	2016-02-18
	40000. U S TREASURY NOTES 5.125% 5/15/16		2015-06-11	2016-03-04
	55000. US TREASURY NOTE 4.750% 8/15/17		2015-08-04	2016-08-18
	50000. US TREASURY NOTE 3.750% 11/15/18		2009-01-28	2016-03-04
	50000. US TREASURY NOTE 3.750% 11/15/18		2014-08-08	2016-05-13
	35000. US TREASURY NOTE 2.000% 8/15/25		2015-09-11	2016-02-01
	60000. US TREASURY NOTE 2.250% 11/15/25		2015-12-17	2016-02-01
	25000. US TREASURY NOTE 2.000% 4/30/16		2014-05-15	2015-12-17
	40000. US TREASURY NOTE 2.000% 11/15/21		2011-11-30	2015-10-05
	25000. US TREASURY NOTE 0.875% 2/28/17		2015-09-29	2016-03-04
	20000. US TREASURY NOTE 1.625% 8/15/22		2012-09-25	2015-10-05
	25000. US TREASURY NOTE 1.625% 11/15/22		2012-12-04	2016-03-15
	80000. US TREASURY NOTE 2.000% 2/15/23		2013-06-27	2016-02-18
	25000. US TREASURY NOTE 0.750% 2/28/18		2016-03-15	2016-05-13
	18. WPP PLC NEW ADR		2011-11-11	2016-07-18
	145. WHITEWAVE FOODS CO		2016-02-05	2016-08-12
	500. WHITEWAVE FOODS CO		2014-11-17	2016-08-12
	165. WORLD FUEL SERVICES CORP COM		2012-09-04	2016-03-18
	21. BROOKFIELD BUSINESS PART		2016-06-20	2016-06-23
	.641 IHS MARKIT LTD		2016-07-13	2016-07-26
	.145 LIBERTY LILAC GROUP-C		2012-09-04	2016-07-13
	80.9547 LIBERTY LILAC GROUP-C		2014-08-25	2016-07-13
	43.0453 LIBERTY LILAC GROUP-C		2016-06-15	2016-07-13
	130. PERRIGO CO PLC		2015-11-18	2016-08-12
	136. PERRIGO CO PLC		2016-07-13	2016-08-12
	1038.4 GAI AURORA OPPORTUNITIES FD LLC		2013-06-26	2015-12-31
	5243.531 GAI AURORA OPPORTUNITIES FD LLC		2015-01-28	2016-06-30
	5584.76 GAI CORBIN MULTI STRATEGY FUND		2014-07-29	2016-06-30
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	100,000	140,461	-40,461
b	24,317	9,264	15,053
c	4,955	4,753	202
d	5,241	4,074	1,167
e	1,250	1,037	213
	1,723	1,296	427
	339,023	159,961	179,062
	29,854	19,444	10,410
	26,943	12,935	14,008
	19,855	10,163	9,692
	3,866	1,971	1,895
	7,598	3,875	3,723
	1,487	1,552	-65
	1,248	1,319	-71
	998	944	54
	17,350	22,182	-4,832
	2,021	2,187	-166
	2,090	3,214	-1,124
	50,000	55,922	-5,922
	1,465	1,744	-279
	2,124	2,492	-368
	1,261	1,193	68
	17,838	14,235	3,603
	9,337	6,300	3,037
	3,276	1,373	1,903
	12,576	11,781	795
	1,276	959	317
	5,719	6,288	-569
	12,634	13,415	-781
	5,764	6,121	-357
	5,552	4,633	919
	11,045	17,754	-6,709
	9,936	16,875	-6,939
	5,968	3,872	2,096
	6,859	7,416	-557
	2,422	1,365	1,057
	1,487	786	701
	589	590	-1
	36,063	34,653	1,410
	13,376	6,824	6,552
	384,806	368,000	16,806
	25,000	25,000
	21,598	19,632	1,966
	2,307	2,368	-61
	6,429	6,179	250
	5,670	3,764	1,906
	128	128
	176	176
	118	118
	63	63
	74	74
	65	65
	85	85
	87	87
	123	123
	81	81
	71	71
	79	79
	739	783	-44
	1,477	1,563	-86
	1,287	1,363	-76
	486	514	-28
	56,656	56,556	100
	2,258	2,390	-132
	374	373	1
	100	100
	101	101
	102	102
	115	114	1
	105	105
	324	323	1
	235	234	1
	97	97
	442	441	1
	88	88
	138	138
	130	137	-7
	139	147	-8
	131	137	-6
	145	152	-7
	2,625	2,759	-134
	117	123	-6
	136	143	-7
	127	134	-7
	118	125	-7
	138	145	-7
	1,354	1,424	-70
	121	127	-6
	11	11
	756	754	2
	9	9
	9	9
	9	9
	9	9
	9	9
	9	9
	9	9
	9	9
	9	9
	9	9
	4	4
	4	4
	4	4
	4	4
	4	5	-1
	4	5	-1
	5	5
	5	5
	5	5
	5	5
	4	4
	4	4
	55,000	55,000
	6	6
	6	6
	9	9
	6	6
	6	6
	6	6
	6	6
	532	518	14
	4	4
	4	4
	4	4
	4	4
	81	80	1
	69	68	1
	71	70	1
	34	34
	39	38	1
	30	30
	26	25	1
	24	24
	6	6
	12	12
	12	12
	12	12
	12	12
	12	12
	12	12
	12	12
	13	13
	13	13
	13	13
	13	13
	13	13
	613	652	-39
	126	125	1
	79	79
	80	79	1
	80	80
	845	841	4
	67	67
	68	68
	67	67
	239	238	1
	291	290	1
	55	55
	56	56
	39	40	-1
	81	81
	41	41
	77	77
	41	41
	42	42
	134	135	-1
	42	42
	41	42	-1
	68	69	-1
	40	40
	40	40
	370	405	-35
	434	474	-40
	354	387	-33
	337	368	-31
	323	352	-29
	321	351	-30
	308	336	-28
	329	360	-31
	273	298	-25
	283	309	-26
	335	366	-31
	264	289	-25
	25	14	11
	5,250	11,970	-6,720
	1,269	1,077	192
	4	4
	4	4
	4	4
	4	4
	4	4
	4	4
	4	4
	4	4
	4	4
	4	4
	4	4
	4	4
	1,215	928	287
	1,420	1,092	328
	21,270	19,828	1,442
	841	807	34
	1,406	1,265	141
	15,633	11,072	4,561
	42,450	46,032	-3,582
	4,642	4,573	69
	877	1,072	-195
	16,784	27,911	-11,127
	65	106	-41
	1,493	1,907	-414
	50,000	52,262	-2,262
	2,198	1,895	303
	22,322	16,898	5,424
	9,227	11,358	-2,131
		271	-271
	3,976	3,916	60
	18,009	17,738	271
	5,228	6,634	-1,406
	6,351	8,659	-2,308
	118,461	75,101	43,360
	4,504	6,837	-2,333
	2,342	2,319	23
	1,354	1,016	338
	1,240	1,137	103
	20,549	13,513	7,036
	2,159	4,139	-1,980
	3,886	3,965	-79
	1,474	1,335	139
	5,182	4,356	826
	1,768	1,405	363
	25,917	32,895	-6,978
	2,023	2,179	-156
	957	807	150
	11,060	11,304	-244
	15,668	7,434	8,234
	2,433	1,838	595
	1,369	1,419	-50
	1,499	468	1,031
	20,865	27,259	-6,394
	8,735	6,489	2,246
	26,120	21,320	4,800
	20,899	17,687	3,212
	1,270	1,184	86
	6,224	4,288	1,936
	11,356	9,179	2,177
	30,000	30,000
	2,869	2,880	-11
	22,075	17,361	4,714
	267,000	312,183	-45,183
	1,820	1,396	424
	16,716	24,434	-7,718
	19,505	16,621	2,884
	2,058	1,683	375
	1,409	894	515
	2,395	2,029	366
	2,720	2,110	610
	35,000	35,020	-20
	784	942	-158
	17,652	9,667	7,985
	5,079	5,867	-788
	3,534	3,483	51
	256,549	250,062	6,487
	5,408	12,711	-7,303
	2,175	5,111	-2,936
	11,479	11,797	-318
	108	104	4
	8,048	6,770	1,278
	18,323	23,578	-5,255
	5,193	6,682	-1,489
	6,567	5,952	615
	7,169	2,066	5,103
	11,112	7,352	3,760
	2,680	1,712	968
	14,574	22,081	-7,507
	8,252	6,923	1,329
	8,588	6,997	1,591
	21,430	15,846	5,584
	20,377	23,097	-2,720
	10,112	11,548	-1,436
	40,358	41,767	-1,409
	57,215	60,147	-2,932
	53,684	55,365	-1,681
	53,619	55,034	-1,415
	35,154	34,434	720
	61,589	59,986	1,603
	25,141	25,801	-660
	40,870	39,788	1,082
	25,042	25,134	-92
	19,854	19,872	-18
	24,840	25,034	-194
	82,487	79,684	2,803
	24,997	24,908	89
	1,981	969	1,012
	8,000	5,275	2,725
	27,588	18,188	9,400
	7,914	6,621	1,293
	441	449	-8
	22	21	1
	5	5
	2,781	2,529	252
	1,479	1,345	134
	11,375	20,223	-8,848
	11,954	18,673	-6,719
	100,000	106,618	-6,618
	481,812	538,382	-56,570
	549,306	613,703	-64,397
			30,420

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			-40,461
b			15,053
c			202
d			1,167
e			213
			427
			179,062
			10,410
			14,008
			9,692
			1,895
			3,723
			-65
			-71
			54
			-4,832
			-166
			-1,124
			-5,922
			-279
			-368
			68
			3,603
			3,037
			1,903
			795
			317
			-569
			-781
			-357
			919
			-6,709
			-6,939
			2,096
			-557
			1,057
			701
			-1
			1,410
			6,552
			16,806

			1,966
			-61
			250
			1,906












			-44
			-86
			-76
			-28
			100
			-132
			1



			1

			1
			1

			1


			-7
			-8
			-6
			-7
			-134
			-6
			-7
			-7
			-7
			-7
			-70
			-6

			2














			-1
			-1














			14




			1
			1
			1

			1

			1














			-39
			1

			1

			4



			1
			1


			-1





			-1

			-1
			-1


			-35
			-40
			-33
			-31
			-29
			-30
			-28
			-31
			-25
			-26
			-31
			-25
			11
			-6,720
			192












			287
			328
			1,442
			34
			141
			4,561
			-3,582
			69
			-195
			-11,127
			-41
			-414
			-2,262
			303
			5,424
			-2,131
			-271
			60
			271
			-1,406
			-2,308
			43,360
			-2,333
			23
			338
			103
			7,036
			-1,980
			-79
			139
			826
			363
			-6,978
			-156
			150
			-244
			8,234
			595
			-50
			1,031
			-6,394
			2,246
			4,800
			3,212
			86
			1,936
			2,177

			-11
			4,714
			-45,183
			424
			-7,718
			2,884
			375
			515
			366
			610
			-20
			-158
			7,985
			-788
			51
			6,487
			-7,303
			-2,936
			-318
			4
			1,278
			-5,255
			-1,489
			615
			5,103
			3,760
			968
			-7,507
			1,329
			1,591
			5,584
			-2,720
			-1,436
			-1,409
			-2,932
			-1,681
			-1,415
			720
			1,603
			-660
			1,082
			-92
			-18
			-194
			2,803
			89
			1,012
			2,725
			9,400
			1,293
			-8
			1

			252
			134
			-8,848
			-6,719
			-6,618
			-56,570
			-64,397

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	111,998
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.

(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2014	930,014	15,151,687	0.06138
2013	962,624	15,718,323	0.061242
2012	936,005	15,532,601	0.060261
2011	993,564	15,348,375	0.064734
2010	770,626	16,294,726	0.047293

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

20.29491

Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years . . .

0.058982

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

14,227,996

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

839,196

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

3,148

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

842,344

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

464,846

If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2015)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	6,297
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	6,297
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	6,297
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	11,698
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	11,698
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	5,401
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax5,401	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?

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

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

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

Form 990-PF (2015)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

Wells Fargo Bank NA Telephone no. bullet

(336) 747-8186

Located at bullet

1W 4TH STREET 6TH FLOORWINSTON SALEMNC ZIP+4 bullet

271013818

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here....... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country?

16 No

See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2015?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2015, did the foundation have any undistributed income (lines 6d

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

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2015.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?

Form 990-PF (2015)

Page 6

Part VII-B

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

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (2015)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
Wells Fargo Bank NA	Co-Trustee 0	107,025
1525 West WT Harris Blvd D1114-044 Charlotte,NC282885709	Co-Trustee 0	107,025
Paul L Guiabo	Preident 1	20,000
1525 West WT Harris Blvd D1114-044 Charlotte,NC282885709	Preident 1	20,000
Renee C Guiabo	Governor 1	16,000
1525 W WT Harris Blvd D1114-044 Charlotte,NC282885709	Governor 1	16,000
Arete Warren	Co-Trustee 40	105,656
520 East 86 Street Apt 11B New York,NY10028	Co-Trustee 40	105,656

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2015)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

13,875,722

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

568,944

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

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

14,444,666

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

14,444,666

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

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

216,670

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

14,227,996

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

711,400

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

711,400

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

6,297

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

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

6,297

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

705,103

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

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

705,103

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

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

705,103

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

464,846

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

464,846

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

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

464,846

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2015)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2014	(c) 2014	(d) 2015
1 Distributable amount for 2015 from Part XI, line 7					705,103
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......				0
b Total for prior years:2013, 20, 20			0
3 Excess distributions carryover, if any, to 2015:
a From 2010......	0
b From 2011......	231,327
c From 2012......	170,413
d From 2013......	190,534
e From 2014......	184,506
fTotal of lines 3a through e........		776,780
4Qualifying distributions for 2015 from Part
XII, line 4: $ 464,846
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.....					464,846
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2015.		240,257			240,257
(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		536,523
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2014. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2016. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8Excess distributions carryover from 2010 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......		536,523
10 Analysis of line 9:
a Excess from 2011....	0
b Excess from 2012....	161,483
c Excess from 2013....	190,534
d Excess from 2014....	184,506
e Excess from 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 section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2015	(b) 2014	(c) 2013	(d) 2012	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

Wells Fargo Philanthroic Services
1 West 4th St
Winston Salem,NC27101
(888) 234-1999

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

Applications must be submitted through the online grant application to grantadministration@wellsfargo.com

cAny submission deadlines:

February 15th

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

Primarily to organizations benefitting arts, culture, humaninites, and education in the Memphis, Miami, and New York City areas.

Form 990-PF (2015)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
PIERPONT MORGAN LIBRARY dba The Morgan Library & Museum 225 MADISON AVE New York,NY100153405	NONE	PC	TOWARDS THE EXHIBITION	35,000
Hudson Review Inc 684 PARK AVE New York,NY100655043	NONE	PC	GENERAL	15,000
OPTIMIST INTERNATIONAL FOUNDATION 4494 LINDELL BLVD ST LOUIS,MO63108	NONE	PC	THE HENRY AND VIRGINIA	10,000
Circuit Playhouse on the Square 66 SOUTH COOPER ST Memphis,TN38104	NONE	PC	FIRST INSTALL PLEDGE FOR	100,000
Preservation League of New York 44 CENTRAL AVE Albany,NY12206	NONE	PC	EXCELLENCE IN PRESERVATION	50,000
Theatre Memphis 60 PARK EXTENDED Memphis,TN38117	NONE	PC	SECOND INSTALL OF 3 YEAR	10,000
Opera Memphis 6745 WOLF RIVER PARKWAY Memphis,TN38120	NONE	PC	STRUCTURED CHALLENGE GRANT	100,000
University of Memphis Foundation 635 NORMAL ST Memphis,TN38152	NONE	PC	OPERA ARTIST DIPLOMA	14,000
POETS HOUSE INC 10 RIVER TERRACE NEW YORK,NY10282	NONE	PC	SUPPORT	25,000
FRIENDS OF LEVITT PAVILLION MEMPHIS POB 982 MEMPHIS,TN38101	NONE	PC	SUSTAIN FIFTY FREE CONCERTS	1,000
New York Landmarks Conservancy Inc 1 WHITEHALL ST NEW YORK,NY10004	NONE	PC	SUPPORT	12,500
Total ................................. 3a				372,500

bApproved for future payment

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

Form 990-PF (2015)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	142
4 Dividends and interest from securities....			14	375,822
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	111,998
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)..				487,962

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

13487,962

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2015)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2015)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	1,400			1,400

Person Name	Explanation
Wells Fargo Bank NA	See Attached Footnote

Name of Bond	End of Year Book Value	End of Year Fair Market Value
03523TAN8 ANHEUSER-BUSCH INBEV	39,956	39,098
14912L3K5 CATERPILLAR FIN SERV	45,472	46,924
20030NBA8 COMCAST CORP	29,970	33,638
20825CAR5 CONOCOPHILLIPS	49,345	49,020
22160KAC9 COSTCO WHOLESALE COR	43,734	40,814
126650BH2 CVS CAREMARK CORP
25470DAC3 DISCOVERY COMMUNICAT	30,177	32,847
260543CC5 DOW CHEMICAL CO/THE	30,171	31,455
26138EAM1 DR PEPPER SNAPPLE GR
36962G3H5 GENERAL ELEC CAP COR	50,401	52,136
459200GJ4 IBM CORPORATION	41,830	41,743
565849AD8 MARATHON OIL CORP
674599BZ7 OCCIDENTAL PETROLEUM
87236YAA6 TD AMERITRADE HOLDIN	34,952	38,997
35671DAU9 FREEPORT-MCMORAN C
40414LAG4 HCP INC	24,823	25,335
40429CFN7 HSBC FINANCE CORP
539473AQ1 LLOYDS BANK PLC	52,462	50,751
637432MQ5 NATIONAL RURAL UTIL	30,264	31,604
04621XAE8 ASSURANT INC	29,982	30,350
06739FGF2 BARCLAYS BANK PLC
205887BQ4 CONAGRA FOODS INC	15,038	15,088
261980494 DREYFUS EMG MKT DEBT	265,192	219,596
30219GAF5 EXPRESS SCRIPTS HOLD	26,560	26,975
693390841 PIMCO HIGH YIELD FD-	500,209	511,157
693390882 PIMCO FOREIGN BD FD	329,271	331,367
693391559 PIMCO EMERG MKTS BD-	512,094	564,031
761713AV8 REYNOLDS AMERICAN IN
76628T678 RIDGEWORTH SEIX FLOA	232,500	223,210
92343VBR4 VERIZON COMMUNICATIO	42,942	46,597
00206RBD3 AT&T INC	44,881	46,464
29379VAZ6 ENTERPRISE PRODUCTS	34,496	35,814
38144LAB6 GOLDMAN SACHS GROUP
61746BDQ6 MORGAN STANLEY	50,406	53,475
68389XAP0 ORACLE CORP	43,034	46,174
053332AJ1 AUTOZONE INC	29,391	27,418
05531FAS2 BB&T CORPORATION	35,426	35,817
06051GEU9 BANK OF AMERICA CORP	35,534	36,231
097023AZ8 BOEING CO	56,227	56,030
12572QAG0 CME GROUP INC	51,114	52,473
345397VT7 FORD MOTOR CREDIT CO	27,318	26,241
46625HJX9 JPMORGAN CHASE & CO	52,074	53,175
55279HAJ9 MANUFACTURERS & TRAD	30,146	30,277
56501RAB2 MANULIFE FINANCIAL	38,456	38,561
857477AG8 STATE STREET CORP	27,820	27,784
857477AM5 STATE STREET CORP	16,014	16,429
00206RDD1 AT&T INC	36,282	37,153
052769AC0 AUTODESK INC	10,056	10,300
06406FAB9 BANK OF NY MELLON CO	50,473	50,339
151020AQ7 CELGENE CORP	36,141	36,207
26138EAQ2 DR PEPPER SNAPPLE GR	24,618	25,075
40428HPR7 HSBC USA INC	49,518	50,434
448579AD4 HYATT HOTELS CORPS	33,120	34,028
50540RAM4 LAB CORP OF AMER HLD	30,262	30,503
80282KAD8 SANTANDER HOLDINGS	29,687	30,180
87612EAS5 TARGET CORP	65,507	63,707
959802AP4 WESTERN UNION CO/THE	30,985	30,938
961214BK8 WESTPAC BANKING CORP	10,910	10,962

- TIN:

TY 2015 InvestmentsCorpStockSchedule

Name:

ARTHUR F & ALICE E ADAMS

EIN:

65-6003785

Name of Stock	End of Year Book Value	End of Year Fair Market Value
478366107 JOHNSON CONTROLS INC
254687106 WALT DISNEY CO	12,519	24,701
126650100 CVS HEALTH CORPORATI	17,157	33,549
370334104 GENERAL MILLS INC	2,074	2,427
713448108 PEPSICO INC	2,611	3,154
166764100 CHEVRON CORP	8,234	10,910
30231G102 EXXON MOBIL CORPORAT	15,449	18,329
03076C106 AMERIPRISE FINL INC	32,921	28,434
46625H100 JPMORGAN CHASE & CO	34,690	50,742
101137107 BOSTON SCIENTIFIC CO	25,798	34,391
151020104 CELGENE CORP COM	25,945	29,268
58933Y105 MERCK & CO INC NEW	39,586	47,120
097023105 BOEING CO	27,333	42,816
268648102 E M C CORP MASS
38259P508 GOOGLE INC
594918104 MICROSOFT CORP	76,462	112,781
025537101 AMERICAN ELECTRIC PO	2,601	3,146
69351T106 PPL CORPORATION	5,376	6,050
744573106 PUBLIC SVC ENTERPRIS	2,853	2,847
023135106 AMAZON COM INC COM	28,692	65,310
517834107 LAS VEGAS SANDS CORP	38,049	38,264
580135101 MCDONALDS CORP	6,984	8,767
855244109 STARBUCKS CORP COM	13,815	29,669
191216100 COCA COLA CO	10,086	10,580
518439104 ESTEE LAUDER COMPANI	21,243	25,240
494368103 KIMBERLY CLARK CORP	5,379	6,559
742718109 PROCTER & GAMBLE CO	13,113	16,155
12572Q105 CME GROUP INC	18,066	34,805
375558103 GILEAD SCIENCES INC	6,235	17,011
478160104 JOHNSON & JOHNSON	9,118	11,577
91324P102 UNITEDHEALTH GROUP I	17,159	44,380
235851102 DANAHER CORP	9,889	17,324
740189105 PRECISION CASTPARTS
858912108 STERICYCLE INC COM
037833100 APPLE INC	88,056	138,147
458140100 INTEL CORP	5,590	7,059
68389X105 ORACLE CORPORATION
61166W101 MONSANTO CO NEW	34,509	33,215
001317205 AIA GROUP LTD-SP ADR	17,810	31,774
003021714 ABERDEEN EMERG MARKE	334,498	307,061
00751Y106 ADVANCE AUTO PTS INC
008252108 AFFILIATED MANAGERS	25,279	29,519
009126202 AIR LIQUIDE - ADR	16,584	17,602
018805101 ALLIANZ SE ADR	10,496	14,252
025083320 AMER CENT SMALL CAP
032095101 AMPHENOL CORP CL A	10,093	21,424
03524A108 ANHEUSER-BUSCH INBEV	9,385	16,558
042068106 ARM HOLDINGS PLC - A
049255706 ATLAS COPCO AB ADR	8,565	11,931
055434203 BG GROUP PLC - ADR
084423102 BERKLEY W R CORP	17,353	26,281
084670702 BERKSHIRE HATHAWAY I	26,156	44,352
088606108 BHP BILLITON LIMITED
112585104 BROOKFIELD ASSET MAN	24,308	36,939
115236101 BROWN & BROWN INC	23,626	30,357
115637209 BROWN FORMAN CORP CL	5,158	7,590
136375102 CANADIAN NATL RR CO	9,748	15,958
143130102 CARMAX INC	23,094	29,343
150870103 CELANESE CORP	22,037	30,884
156782104 CERNER CORP COM	21,985	21,180
17275R102 CISCO SYSTEMS INC	32,597	51,037
20030N101 COMCAST CORP CLASS A	21,603	42,126
217204106 COPART INC COM	26,467	47,936
23304Y100 DBS GROUP HOLDINGS L	11,877	13,173
237545108 DASSAULT SYSTEMES S.	15,138	31,648
246248306 DELAWARE POOLED TR I
25243Q205 DIAGEO PLC - ADR	25,965	28,430
25470F302 DISCOVERY COMMUNICAT	26,294	22,890
256206103 DODGE & COX INT'L ST
278865100 ECOLAB INC	16,291	17,649
30303M102 FACEBOOK INC	39,150	66,700
307305102 FANUC CORPORATION AD	29,362	31,051
358029106 FRESENIUS MEDICAL CA	15,276	17,727
37637Q105 GLACIER BANCORP INC	12,817	18,395
38141G104 GOLDMAN SACHS GROUP
404280406 HSBC - ADR
45104G104 ICICI BANK LTD. - AD
453038408 IMPERIAL OIL LTD COM
464287481 ISHARES RUSSELL MID-
465562106 ITAU UNIBANCO H-SPON	14,554	12,132
466140100 JGC CORP-UNSPONSORED	16,037	9,438
46625H365 JP MORGAN ALERIAN ML	403,399	307,692
49456B101 KINDER MORGAN INC/DE
502117203 L'OREAL - ADR	11,756	20,520
502441306 LVMH MOET HENNESSY U	12,775	13,350
50540R409 LABORATORY CRP OF AM	20,497	31,620
55261F104 M & T BANK CORPORATI	13,216	17,647
570535104 MARKEL HOLDINGS	20,116	42,723
62474M108 MTN GROUP LTD ADR	12,637	5,785
641069406 NESTLE S.A. REGISTER	28,050	36,823
66987V109 NOVARTIS AG - ADR	7,903	7,106
67103H107 O'REILLY AUTOMOTIVE	17,199	16,807
681919106 OMNICOM GROUP	19,270	29,665
717081103 PFIZER INC	7,697	7,892
718172109 PHILIP MORRIS INTERN	15,607	18,763
722005667 PIMCO COMMODITY REAL	335,881	184,961
771195104 ROCHE HOLDINGS LTD -	66,639	70,890
779919109 T ROWE PRICE REAL ES	658,508	1,010,094
803054204 SAP SE	18,924	27,240
803866300 SASOL LIMITED - ADR	10,719	6,857
806857108 SCHLUMBERGER LTD	49,271	49,543
80687P106 SCHNEIDER ELECTRIC S
83569C102 SONOVA HOLDIN-UNSPON	6,995	9,288
86959C103 SVENSKA HANDELSB-A-U
87184P109 SYSMEX CORP-UNSPON A	4,697	17,468
872540109 TJX COMPANIES INC	10,982	17,872
874039100 TAIWAN SEMICONDUCTOR	18,955	37,932
87612E106 TARGET CORP	23,312	25,412
883556102 THERMO FISHER SCIENT	10,161	28,631
886547108 TIFFANY & CO NEW	19,648	22,152
89151E109 TOTAL S.A. - ADR	33,122	32,245
900148701 TURKIYE GARANTI BANK	11,401	8,427
90460M204 UNI CHARM CORPORATIO
904767704 UNILEVER PLC - ADR	16,344	20,619
907818108 UNION PACIFIC CORP	29,427	45,254
911312106 UNITED PARCEL SERVIC	15,027	21,981
92343V104 VERIZON COMMUNICATIO	10,364	12,111
981475106 WORLD FUEL SERVICES	23,833	26,600
G0450A105 ARCH CAPITAL GROUP L	16,616	27,345
G16962105 BUNGE LIMITED	15,348	13,386
056752108 BAIDU INC ADR	28,050	30,224
05946K101 BANCO BILBAO VIZCAYA	11,266	6,884
072743206 BAYERISCHE MOTOREN W
194014106 COLFAX CORPORATION
228368106 CROWN HLDGS INC	20,418	31,114
25746U109 DOMINION RES INC VA	8,184	8,615
302130109 EXPEDITORS INTL WASH	25,163	33,230
437076102 HOME DEPOT INC	31,308	46,711
43858F109 HONG KONG EXCH & CLE
58155Q103 MCKESSON CORP	14,986	26,347
670100205 NOVO NORDISK A/S - A
778296103 ROSS STORES INC	19,067	36,780
89155H256 TOUCHSTONE SMALLLCAP	210,000	178,865
904784709 UNILEVER N.V. - ADR	5,353	5,993
92937A102 WPP PLC NEW ADR	11,031	24,133
G29183103 EATON CORP PLC	14,692	19,582
G5480U120 LIBERTY GLOBAL PLC-S	26,188	32,875
M22465104 CHECK POINT SOFTWARE	8,396	8,459
09247X101 BLACKROCK INC	17,609	20,298
12514G108 CDW CORP/DE	20,666	30,410
12637N204 CSL LTE-SPONSORED AD	5,315	13,771
172967424 CITIGROUP INC.	35,641	34,478
231021106 CUMMINS INC.	26,564	25,246
23918K108 DAVITA INC	31,344	30,921
311900104 FASTENAL CO	19,662	18,592
35952Q106 FUCHS PETROLUB SE-PR	9,875	9,608
38259P706 GOOGLE INC-CL C
461202103 INTUIT COM	10,908	15,401
606783207 MITSUBISHI ESTATE CO	11,848	7,394
61022V107 MONOTARO CO LTD-UNSP	3,123	7,500
65339F101 NEXTERA ENERGY INC	4,392	4,648
683974604 OPPENHEIMER DEVELOPI	211,817	220,184
79546E104 SALLY BEAUTY CO INC	37,091	36,722
80007R105 SANDS CHINA LTD-UNSP
87155N109 SYMRISE AG ADR	8,168	11,102
893641100 TRANSDIGM GROUP INC	20,423	26,021
92826C839 VISA INC-CLASS A SHR	38,544	53,920
92914A810 VOYA INTL RL EST FD	437,632	346,947
N53745100 LYONDELLBASELL INDU-	3,836	3,872
00206R102 AT & T INC	18,246	21,523
015351109 ALEXION PHARMACEUTIC	30,535	22,057
016255101 ALIGN TECHNOLOGY INC	19,943	29,906
02209S103 ALTRIA GROUP INC	8,297	10,117
03027X100 AMERICAN TOWER CORP	10,952	14,166
046353108 ASTRAZENECA PLC ADR	4,294	4,436
055262505 BASF AKTIENGESELLSCH	5,077	5,646
05534B760 BCE INC	10,737	12,099
055622104 BP PLC - ADR	5,113	5,837
064149107 BANK N S HALIFAX	3,352	3,868
081437105 BEMIS INC	2,415	2,755
110448107 BRITISH AMERICAN TOB	5,460	6,383
14149Y108 CARDINAL HEALTH INC
169656105 CHIPOTLE MEXICAN GRI
20449X302 COMPASS GROUP PLC -	3,577	4,018
20605P101 CONCHO RESOURCES INC	21,409	26,097
21036P108 CONSTELLATION BRANDS	14,395	24,141
22822V101 CROWN CASTLE INTL CO	17,623	19,784
251542106 DEUTSCHE BOERSE AG A	2,298	2,054
26441C204 DUKE ENERGY HOLDING	12,032	13,127
26874R108 ENI SPA - ADR
34964C106 FORTUNE BRANDS HOME	22,097	30,503
37733W105 GLAXOSMITHKLINE PLC	11,432	12,421
40414L109 HCP INC
418056107 HASBRO INC
451734107 IHS INC
45866F104 INTERCONTINENTAL EXC	21,073	25,589
500472303 PHILIPS ELECTRONICS	4,496	5,297
50048H101 KONE OYJ-B-UNSPONSOR	6,832	7,726
500754106 KRAFT HEINZ CO/THE	3,443	4,386
53071M880 LIBERTY VENTURES - S
532457108 ELI LILLY & CO COM
535223200 LINDE AG ADR	11,022	10,683
539830109 LOCKHEED MARTIN CORP	4,291	4,794
580645109 MCGRAW-HILL FINANCIA
59410T106 MICHELIN (CGDE) ADR
596278101 MIDDLEBY CORP	19,209	22,128
609207105 MONDELEZ INTERNATION	20,213	22,521
61174X109 MONSTER BEVERAGE COR	24,197	32,298
620076307 MOTOROLA SOLUTIONS,
631512100 NASPERS LTD ADR	14,840	18,824
636274300 NATIONAL GRID PLC AD	10,329	11,449
654106103 NIKE INC CL B	35,975	33,170
675232102 OCEANEERING INTL INC	14,437	8,391
681936100 OMEGA HEALTHCARE INV
693475105 PNC FINANCIAL SERVIC	36,479	34,955
693506107 PPG INDUSTRIES INC	33,061	31,525
731068102 POLARIS INDS INC COM
741503403 THE PRICELINE GROUP	32,774	41,202
74435K204 PRUDENTIAL PLC - ADR	3,984	3,500
756109104 REALTY INCOME CORP C	2,047	3,079
756255204 RECKITT BENCKIS/S AD	4,405	4,582
761713106 REYNOLDS AMERICAN IN	6,330	7,355
767204100 RIO TINTO PLC - ADR
780259107 ROYAL DUTCH SHELL PL	21,196	24,302
780259206 ROYAL DUTCH SHELL PL	3,324	3,305
78462F103 SPDR S & P 500 ETF T
79466L302 SALESFORCE COM INC	23,837	28,746
80105N105 SANOFI-ADR	15,508	13,519
82481R106 SHIRE PLC ADR
826197501 SIEMENS AG - SPONSOR	6,828	7,978
82929R304 SINGAPORE TELECOMMUN	2,372	2,472
842587107 SOUTHERN CO	7,335	8,721
867224107 SUNCOR ENERGY INC NE	37,057	38,559
87817A107 TEAM HEALTH HOLDINGS
87944W105 TELENOR ASA - ADR	2,377	2,259
87969N204 TELSTRA CORP-ADR	4,111	3,984
891160509 TORONTO DOMINION BK	4,287	4,706
892331307 TOYOTA MOTOR CORPORA	4,428	4,642
892356106 TRACTOR SUPPLY CO CO	37,479	33,810
92276F100 VENTAS INC COM	4,151	5,297
92345Y106 VERISK ANALYTICS INC	18,983	21,052
92857W308 VODAFONE GROUP PLC-S	13,302	11,893
95040Q104 WELLTOWER INC	4,501	5,309
966244105 WHITEWAVE FOODS CO
G0177J108 ALLERGAN PLC	33,462	26,486
G1151C101 ACCENTURE PLC	15,494	22,357
G50871105 JAZZ PHARMACEUTICALS	28,842	23,081
G66721104 NORWEGIAN CRUISE LIN	31,662	21,866
N6596X109 NXP SEMICONDUCTORS N	19,311	26,421
00203H859 AQR MANAGED FUTURES	582,000	572,394
00287Y109 ABBVIE INC	10,748	11,479
015393101 ALFA LAVAL AB-UNSPON	7,440	7,701
02079K107 ALPHABET INC CL C	52,540	83,947
02079K305 ALPHABET INC CL A	18,856	46,635
05530H100 BBA AVIATION PLC-UNS	4,007	3,972
072730302 BAYER AG - ADR	23,412	22,311
072743305 BAYERISCHE MOTOREN	13,297	11,332
15135B101 CENTENE CORP DEL	19,963	21,427
192446102 COGNIZANT TECH SOLUT	31,226	25,525
19624Y101 COLOPLAST AS - UNSPO	7,214	7,648
209115104 CONSOLIDATED EDISON	2,690	3,087
256677105 DOLLAR GENERAL CORP	21,527	21,137
34959J108 FORTIVE CORP	11,475	13,743
36381Y108 MONDRIAN INTERNATION	575,309	371,509
398438408 GRIFOLS SA-ADR	7,285	6,644
40049J206 GRUPO TELEVISA, S.A.	6,763	6,654
405217100 HAIN CELESTIAL GROUP	18,253	16,011
501173207 KUBOTA LIMITED - ADR	8,436	8,327
530307305 LIBERTY BROADBAND CO	22,320	36,097
56501R106 MANULIFE FINANCIAL C	27,022	26,809
62942M201 NTT DOCOMO, INC. - A	2,466	2,541
651229106 NEWELL BRANDS, INC	20,842	20,011
697435105 PALO ALTO NETWORKS I	22,919	23,900
701491102 PARK24 CO LTD-SPN AD	8,947	10,284
74925K581 BOSTON P LNG/SHRT RE	574,000	577,798
78409V104 S&P GLOBAL INC	18,393	25,818
88031M109 TENARIS S.A. - ADR	9,539	10,366
92210H105 VANTIV INC	20,246	21,101
92927K102 WABCO HOLDINGS INC	19,945	21,003
977868306 WOLSELEY PLC	2,491	2,445
G0750C108 AXALTA COATING SYSTE	19,616	20,637
G25839104 COCA-COLA EUROPEAN P	2,587	2,793
G47567105 IHS MARKIT LTD	24,258	27,524

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
02005ACW6 ALLY MASTER OWNER TR	AT COST	65,201	65,235
GTA994003 GAI AURORA OPPORTUNI
GTC997004 GAI CORBIN MULTI STR
34528QEC4 FORD CREDIT FLOORPLA	AT COST	60,516	61,511
90270RBD5 UBS-BARCLAYS COMMER	AT COST	65,523	67,529
GTA999HB0 GAI AURORA OPP FUND	AT COST	24,091	24,091
GTC999HB8 GAI CORBIN FUND 5% H	AT COST	27,465	27,465

Description	Amount
MUTUAL FUND POSTING DATE AFTER TYE	7,961
ROC BASIS ADJUSTMENT	1,331
ROUNDING	10
ACCRUED INT	992

Description	Amount
MUTUAL FUND TAX EFFECTIVE DATE BEFORE TYE	5,567
SALE GAIN EFFECT PREVIOUS TYE POST CURR	1,585
SALES LOSS POST PRIOR TYE EFFECT CURR TY	2,717

Category	Amount	Net Investment Income
FOREIGN TAXES	2,908	2,908
FEDERAL ESTIMATES - PRINCIPAL	9,906	0
FOREIGN TAXES ON QUALIFIED FOR	2,346	2,346