Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 07-01-2015 , and ending 06-30-2016
Name of foundation
THE LIPMAN FAMILY FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)188 FAVONIO ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PORTOLA VALLEY, CA94028
A Employer identification number

13-6066963
B Telephone number (see instructions)

(212) 509-6700
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$45,541,383J 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 385 385  
4 Dividends and interest from securities... 123,059 123,059  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 275,949
b Gross sales price for all assets on line 6a 1,961,643
7 Capital gain net income (from Part IV, line 2)... 275,949
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 71 71  
12 Total. Add lines 1 through 11........ 399,464 399,464  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 11,512 11,512   0
b Accounting fees (attach schedule)....... Click to see attachment 5,000 5,000   0
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 41,341 1,341   0
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 attachment 122,715 117,443   1,802
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 180,568 135,296   1,802
25 Contributions, gifts, grants paid....... 1,630,000 1,630,000
26 Total expenses and disbursements. Add lines 24 and 25 1,810,568 135,296   1,631,802
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,411,104
b Net investment income (if negative, enter -0-) 264,168
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 14,386 207,865 207,865
2 Savings and temporary cash investments......... 1,712,978 2,728,907 2,728,907
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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)....... 11,053,677 Click to see attachment11,081,159 12,035,681
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment3,624,179 Click to see attachment3,572,980 Click to see attachment30,568,930
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 16,405,220 17,590,911 45,541,383
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 attachment32,244 Click to see attachment1,756,339
23 Total liabilities (add lines 17 through 22)......... 32,244 1,756,339
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........ 6,626,641 6,626,641
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 9,746,335 9,207,931
30 Total net assets or fund balances (see instructions)..... 16,372,976 15,834,572
31 Total liabilities and net assets/fund balances (see instructions). 16,405,220 17,590,911
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
16,372,976
2
Enter amount from Part I, line 27a .....................
2
-1,411,104
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
872,700
4
Add lines 1, 2, and 3 ..........................
4
15,834,572
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
15,834,572
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 THRU BNY MELLON ACCT UMF-902240   2015-06-16 2016-06-30
b 3300 SHS CABOT OIL & GAS CORP   2008-12-08 2016-01-20
c 450 SHS ANADARKO PETROLEUM CORP   2003-09-04 2016-01-06
d 50 SHS ***ACCENTURE PLC IRELANDSHS CL A   2009-06-01 2016-01-20
e 226 SHS WESTERN DIGITAL CORP   2016-05-13 2016-06-23
150 SHS UNITED CONTINENTAL HLDGS INC   2013-11-19 2016-01-20
1350 SHS TWENTY FIRST CENTURY FOX INCCLASS A   2015-06-19 2015-11-23
200 SHS TEXTRON INC   2013-08-15 2016-01-20
400 SHS SANOFI AVENTISSPONSORED ADR   2015-05-27 2015-11-16
1600 SHS SANOFI AVENTISSPONSORED ADR   2014-11-12 2015-11-16
200 SHS SANDISK CORP   2013-10-30 2016-01-20
950 SHS SANDISK CORP   2013-10-30 2016-05-13
200 SHS SANDISK CORP   2013-10-30 2016-01-26
200 SHS SANDISK CORP   2013-10-30 2016-01-25
100 SHS ***RYANAIR HLDGS PLCSPONSORED ADR NEW   2016-01-13 2016-01-20
100 SHS PNC FINANCIAL SVCS GROUP INC   2014-11-24 2016-01-20
300 SHS MICROSOFT CORP   2015-04-24 2015-11-13
200 SHS MICROSOFT CORP   2015-04-24 2016-01-20
93 SHS CALIFORNIA RES CORPCOM   2008-10-24 2016-04-04
500 SHS MICROSOFT CORP   2011-12-06 2016-03-29
9 SHS CALIFORNIA RES CORPCOM   2008-11-12 2016-04-04
1650 SHS CARPENTER TECHNOLOGY CORP   2009-11-17 2016-01-13
27.82 SHS WESTERN DIGITAL CORP   2015-03-05 2016-05-13
1 SHS CALIFORNIA RES CORPCOM   2015-03-05 2016-04-06
800 SHS UNUM GROUP   2009-04-16 2016-02-11
700 SHS UNUM GROUP   2009-04-16 2016-01-20
50 SHS TRAVELERS COMPANIES INC THE   2009-05-08 2016-01-20
100 SHS TRAVELERS COMPANIES INC THE   2009-01-28 2016-01-20
500 SHS PIONEER NATURAL RESOURCES CO   2009-04-16 2016-01-20
2200 SHS PFIZER INC   2010-11-08 2016-01-20
200 SHS PACKAGING CORP AMER   2009-01-06 2015-11-23
300 SHS PACKAGING CORP AMER   2009-01-06 2016-01-20
400 SHS PACKAGING CORP AMER   2009-01-06 2016-03-31
500 SHS PACKAGING CORP AMER   2009-01-06 2016-05-18
200 SHS ORACLE CORP   2008-12-08 2016-01-20
800 SHS OCCIDENTAL PETE CORP   2008-11-12 2016-01-20
50 SHS INTERNATIONAL BUSINESSMACHINES CORP   1998-06-20 2016-01-20
150 SHS INTERNATIONAL BUSINESSMACHINES CORP   1998-06-20 2015-08-04
400 SHS INTERNATIONAL BUSINESSMACHINES CORP   1998-06-20 2016-03-31
850 SHS CARPENTER TECHNOLOGY CORP   2009-11-17 2016-01-12
LITIGATION SETTLEMENTS   2015-01-19 2016-02-22
200 SHS MICROSOFT CORP   2011-12-06 2016-01-20
300 SHS MICROSOFT CORP   2011-08-15 2016-03-29
50 SHS AIR PRODUCTS & CHEMICALS INC   2015-08-28 2016-01-20
THRU HS MANAGEMENT ACCT 106600   2015-05-27 2016-06-30
THRU HS MANAGEMENT ACCT 106600   2015-07-06 2016-06-30
THRU SELECT EQUITY ACCT 106500   2015-05-27 2016-06-30
THRU SELECT EQUITY ACCT 106500   2015-07-06 2016-06-30
112 SHS AMPHENOL CORP   2015-03-05 2016-06-30
312 SHS SENSATA TECHNOLOGIES HLDG   2015-06-01 2016-06-30
128 SHS AMPHENOL CORP   2015-03-05 2016-06-29
114 SHS WOLVERINE WORLD WIDE INC   2015-03-05 2016-06-29
67 SHS IHS INC   2015-03-05 2016-06-28
298 SHS SENSATA TECHNOLOGIES HLDG   2015-06-01 2016-06-28
THRU BNY MELLON ACCT UMF-902166   2015-03-05 2016-06-30
THRU BNY MELLON ACCT UMF-902166   2015-12-02 2016-06-30
50 SHS COMCAST CORP   2015-11-19 2016-06-28
10 SHS AMAZON COM INC   2016-03-31 2016-06-28
50 SHS LULULEMON ATHLETICA INC   2015-09-16 2016-06-28
THRU BNY MELLON ACCT UMF-902240   2015-03-03 2016-06-30
100 SHS ***AON PLCSHS CL A   2011-08-15 2016-01-20
500 SHS MICROSOFT CORP   2011-08-08 2016-03-29
250 SHS BE AEROSPACE INC   2015-07-21 2016-01-20
305 SHS BED BATH & BEYOND INC   2015-01-15 2015-07-24
50 SHS M & T BANK CORP   2014-01-21 2016-01-20
150 SHS JOHNSON & JOHNSON   2012-11-21 2016-01-20
650 SHS JOHNSON & JOHNSON   2012-11-21 2016-03-15
1400 SHS INTERNATIONAL PAPER CO   2011-08-03 2016-01-20
500 SHS INTERNATIONAL PAPER CO   2011-04-13 2016-01-20
1350 SHS INTERNATIONAL PAPER CO   2011-04-13 2015-07-29
100 SHS HONEYWELL INTL INC   2012-06-19 2016-01-20
400 SHS FEDEX CORP   2014-10-07 2016-01-14
350 SHS EOG RESOURCES INC   2012-05-23 2016-01-20
50 SHS ELI LILLY & CO   2014-10-08 2016-01-20
50 SHS DTE ENERGY CO   2014-11-12 2016-01-20
500 SHS CSX CORP   2015-11-23 2016-01-20
250 SHS CARPENTER TECHNOLOGY CORP   2012-06-12 2015-11-23
1000 SHS CALATLANTIC GROUP INCCOM   2015-11-23 2016-01-20
400 SHS BOEING CO   2011-06-24 2016-01-20
100 SHS BOEING CO   2012-11-21 2016-01-20
50 SHS BERKSHIRE HATHAWAY INC DELCL B NEW   2014-10-07 2016-01-20
200 SHS BED BATH & BEYOND INC   2015-01-15 2015-07-21
140 SHS WOLVERINE WORLD WIDE INC   2016-01-22 2016-06-29
(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 244,439   280,232 -35,793
b 52,725   20,094 32,631
c 20,093   9,877 10,216
d 4,932   1,543 3,389
e 11,483   8,250 3,233
6,606   5,725 881
40,533   44,704 -4,171
7,028   5,586 1,442
17,197   19,968 -2,771
68,789   74,635 -5,846
13,894   13,922 -28
72,375   66,131 6,244
12,775   13,922 -1,147
12,354   13,922 -1,568
8,309   8,590 -281
8,369   8,791 -422
15,833   13,820 2,013
9,933   9,213 720
111   72 39
27,357   12,869 14,488
11   8 3
41,754   39,169 2,585
28     28
1     1
19,411   11,607 7,804
18,759   10,156 8,603
5,156   1,913 3,243
10,312   4,038 6,274
52,520   10,583 41,937
67,376   37,448 29,928
13,456   2,961 10,495
16,469   4,442 12,027
24,145   5,923 18,222
32,450   7,403 25,047
6,684   3,324 3,360
47,939   36,766 11,173
6,077   2,693 3,384
23,614   8,080 15,534
60,892   21,547 39,345
21,533   20,178 1,355
43     43
9,933   5,147 4,786
16,414   7,595 8,819
5,772   7,025 -1,253
    32,096 -32,096
    21,209 -21,209
    10,690 -10,690
1,841     1,841
6,365   6,530 -165
10,858   17,266 -6,408
7,197   7,463 -266
2,253   3,454 -1,201
7,325   7,749 -424
9,852   16,486 -6,634
78,639   74,964 3,675
28,494   28,577 -83
3,133   3,127 6
7,048   5,430 1,618
3,500   2,651 849
130,904   139,389 -8,485
8,439   4,908 3,531
27,357   12,492 14,865
9,193   13,484 -4,291
23,071   25,371 -2,300
5,132   5,569 -437
14,300   10,440 3,860
70,086   45,240 24,846
48,087   38,684 9,403
17,174   14,234 2,940
63,446   38,432 25,014
9,524   5,646 3,878
52,413   63,228 -10,815
20,313   17,259 3,054
4,071   3,223 848
4,000   4,065 -65
10,793   14,500 -3,707
8,270   10,789 -2,519
29,316   41,662 -12,346
48,737   28,533 20,204
12,184   7,334 4,850
6,221   6,907 -686
13,456   14,498 -1,042
2,767   2,243 524
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       -35,793
b       32,631
c       10,216
d       3,389
e       3,233
      881
      -4,171
      1,442
      -2,771
      -5,846
      -28
      6,244
      -1,147
      -1,568
      -281
      -422
      2,013
      720
      39
      14,488
      3
      2,585
      28
      1
      7,804
      8,603
      3,243
      6,274
      41,937
      29,928
      10,495
      12,027
      18,222
      25,047
      3,360
      11,173
      3,384
      15,534
      39,345
      1,355
      43
      4,786
      8,819
      -1,253
      -32,096
      -21,209
      -10,690
      1,841
      -165
      -6,408
      -266
      -1,201
      -424
      -6,634
      3,675
      -83
      6
      1,618
      849
      -8,485
      3,531
      14,865
      -4,291
      -2,300
      -437
      3,860
      24,846
      9,403
      2,940
      25,014
      3,878
      -10,815
      3,054
      848
      -65
      -3,707
      -2,519
      -12,346
      20,204
      4,850
      -686
      -1,042
      524
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 2 275,949
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2014 692,168 14,067,685 0.049203
2013 886,351 14,453,915 0.061323
2012 510,240 11,278,878 0.045239
2011 7,625,119 10,819,835 0.704735
2010 3,919,260 11,793,015 0.332337
2
Total of line 1, column (d) .....................
21.192837
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
0.238567
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
13,674,903
5
Multiply line 4 by line 3......................
5
3,262,381
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
2,642
7
Add lines 5 and 6........................
7
3,265,023
8
Enter qualifying distributions from Part XII, line 4.............
8
1,631,802
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 5,283
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 5,283
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 5,283
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 12,795
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 12,795
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 7,512
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet7,512 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNY
    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 ofbulletTHE LIPMAN FAMILY FOUNDATION INC Telephone no.bullet (212) 509-6700

    Located atbulletC/O FREEDMAN CO CPA PC 61 BROADWAYSTE 1602NEW YORKNY ZIP+4bullet10006
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    BEVERLY S LIPMAN PRESIDENT
    7.00     		0 0 0
    188 FAVONIO ROAD
    PORTOLA VALLEY,CA94028
    PETER W LIPMAN VP
    5.00     		0 0 0
    188 FAVONIO ROAD
    PORTOLA VALLEY,CA94028
    TIMOTHY E LIPMAN VP
    1.00     		0 0 0
    188 FAVONIO ROAD
    PORTOLA VALLEY,CA94028
    BENJAMIN H LIPMAN DIRECTOR
    1.00     		0 0 0
    188 FAVONIO ROAD
    PORTOLA VALLEY,CA94028
    ROGER A GOLDMAN VP/TREASURER
    1.00     		0 0 0
    275 PARK AVE
    NEW YORK,NY10021
    LESTER A GREENBERG SECRETARY
    1.00     		0 0 0
    1350 BROADWAY
    NEW YORK,NY10018
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 CONTRIBUTIONS TO ORGANIZATIONS WHICH HAVE ESTABLISHED AN EXEMPT STATUS WITH THE INTERNAL REVENUE SERVICE AND ARE DEDUCTIBLE UNDER SECTION 170 OF THE CODE NUMBER OF ORGANIZATIONS AND EVENTS SUPPORTED-35. 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.........................bullet0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    12,283,911
    b
    Average of monthly cash balances.......................
    1b
    1,589,645
    c
    Fair market value of all other assets (see instructions)................
    1c
    9,594
    d
    Total (add lines 1a, b, and c).........................
    1d
    13,883,150
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    13,883,150
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    208,247
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    13,674,903
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    683,745
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    683,745
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    5,283
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,283
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    678,462
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    678,462
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    678,462
    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
    1,631,802
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,631,802
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,631,802
    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 7 678,462
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010...... 2,078,621
    b From 2011...... 7,625,878
    c From 2012...... 556,496
    d From 2013...... 713,818
    e From 2014...... 47,656
    fTotal of lines 3a through e........ 11,022,469
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 1,631,802
    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..... 678,462
    e Remaining amount distributed out of corpus 953,340
    5 Excess distributions carryover applied to 2015. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 11,975,809
    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) ...     		2,078,621
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		9,897,188
    10 Analysis of line 9:
    a Excess from 2011.... 7,625,878
    b Excess from 2012.... 556,496
    c Excess from 2013.... 713,818
    d Excess from 2014.... 47,656
    e Excess from 2015.... 953,340
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or 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
    BAY AREA LYME FOUNDATION
    884 PORTOLA ROAD SUITE A7
    PORTOLA VALLEY,CA94028     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 500
    CALDER FOUNDATION
    207 WEST 25TH STREET
    NEW YORK,NY10001     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 982,500
    CALIFORNIA STATE PARKS FOUNDATION
    50 FRANCISCO STREET
    SAN FRANCISCO,CA94133     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 250
    STANFORD UNIVERSITY - CANTOR ARTS CENTER
    328 LOMITA DRIVE
    STANFORD,CA94305     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 950
    COMMITTEE FOR GREEN FOOTHILLS
    3921 E BAYSHORE ROAD
    PALO ALTO,CA94303     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 500
    DOCTORS FOR GLOBAL HEALTH
    PO BOX 1761
    DECATUR,GA30031     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 10,000
    EARTH JUSTICE
    50 CALIFORNIA STREET SUITE 500
    SAN FRANCISCO,CA94111     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 1,000
    ENS NICARAGUA
    PO BOX 4024
    BELLINGHAM,WA982274024     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 500
    ENVIRONMENTAL DEFENSE FUND
    257 PARK AVENUE SOUTH
    NEW YORK,NY10010     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 1,000
    FINE ARTS MUSEUM OF SAN FRANCISCO
    50 HAGIWARA TEA GARDEN DRIVE
    SAN FRANCISCO,CA94118     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 1,000
    FOR SITE FOUNDATION
    2 MARINA BOULEVARD BUILDING C
    SAN FRANCISCO,CA94123     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 5,000
    FRIENDS OF HUDDART & WUNDERLICH PARKS
    2961 WOODSIDE ROAD
    WOODSIDE,CA94062     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 500
    GEOLOGICAL SOCIETY OF AMERICA FOUNDATION
    PO BOX 9140 3300 PENROSE PLACE
    BOULDER,CO80301     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 25,500
    GIVE-TECHORG
    548 MARKET STREET 89706
    SAN FRANCISCO,CA94104     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 10,000
    KQED
    2601 MARIPOSA STREET
    SAN FRANCISCO,CA94110     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 1,000
    LAND TRUST OF SANTA CRUZ
    617 WATER STREET
    SANTA CRUZ,CA95060     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 1,000
    MOMA - MUSEUM OF MODERN ART - NY
    11 WEST 53 STREET
    NEW YORK,NY10019     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 600
    NEW MEXICO INSTITUTE OF MINING & TECHNOLOGY
    801 LEROY PLACE
    SOCORRO,NM87801     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 20,000
    PALO ALTO ARTS CENTER
    1313 NEWELL ROAD
    PALO ALTO,CA94303     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 5,000
    PLANNED PARENTHOOD
    123 WILLIAM STREET
    NEW YORK,NY10038     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 500
    PORTOLA VALLEY LIBRARY
    765 PORTOLA ROAD
    PORTOLA VALLEY,CA94028     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 250
    POST- PENINSULA OPEN SPACE TRUST
    222 HIGH STREET
    PALO ALTO,CA94301     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 2,000
    SAN JOSE MUSEUM OF ART
    110 SOUTH MARKET STREET
    SAN JOSE,CA95113     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 284,950
    SEMPERVIRENS FUND
    419 SOUTH SAN ANTONIO ROAD SUITE
    211
    LOS ALTOS,CA94022     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 1,000
    SAN FRANCISCO FILM SOCIETY
    1746 POST STREET
    SAN FRANCISCO,CA94115     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 10,000
    SFMOMA-SAN FANCISCO MUSEUM OF MODERN ART
    151 THIRD STREET
    SAN FRANCISCO,CA94103     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 2,500
    SAN JOSE INSTITUTE OF CONTEMPORARY ART
    560 SOUTH 1ST STREET
    SAN JOSE,CA95113     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 10,000
    SOLSTICE INSTITUTE
    302 PEARL STREET
    BOULDER,CO80302     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 20,000
    STANFORD UNIVERSITY
    450 SERRA MALL
    STANDFORD,CA94305     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 8,500
    STORM KING ART CENTER
    1 MUSEUM ROAD
    NEW WINDSOR,NY12553     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 10,000
    THE AMERICAN DREAM PROJECT - THE STANDBY PROGRAM
    123 WEST 18TH STREET 7TH FL
    NEW YORK,NY10011     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 2,000
    THE NATURE CONSERVANCY
    4245 NORTH FAIRFAX DRIVE SUITE 100
    ARLINGTON,VA22203     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 1,000
    THE CONSERVATION FUND
    1655 NORTH FORT MYER DRIVE SUITE
    1300
    ARLINGTON,VA22209     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 200,000
    WHITNEY MUSEUM
    945 MADISON AVENUE
    NEW YORK,NY10021     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 10,000
    WOODSIDE FIRE DEPARTMENT FOUNDATION
    3111 WOODSIDE ROAD
    WOODSIDE,CA94062     		NONE OTHER PUBLIC CHARITY CHARITABLE CONTRIBUTION TO PUBLIC CHARITY 500
    Total .................................bullet 3a 1,630,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		    14 385  
    4 Dividends and interest from securities....     14 123,059  
    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.....     18 71  
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 275,949  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 399,464 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13399,464
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    THE LIPMAN FAMILY FOUNDATION INC
    EIN:
    13-6066963
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 5,000 5,000   0

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    THE LIPMAN FAMILY FOUNDATION INC
    EIN:
    13-6066963
    Name of Stock End of Year Book Value End of Year Fair Market Value
    400 SHS ACCENTURE PLC IRELAND SHS CLA 12,344 45,316
    183 SHS ACUITY BRANDS INC COM 35,135 45,376
    700 SHS AIR PRODUCTS & CHEM 96,141 99,428
    1074 SHS ALLEGION PLC 62,070 74,567
    200 SHS ALPHABET INC CAP STK CL CL 113,128 138,420
    25 SHS AMAZON. COM INC 9,595 17,891
    1625 SHS AMC NETWORKS INC 116,001 98,182
    879 SHS AMPHENOL CORP 51,252 50,393
    310 SHS ANSYS INC 27,631 28,132
    1250 SHS APPLE INC 143,641 119,500
    650 SHS AON PLC SHS CL A 31,902 70,999
    3000 SHS B/E AEROSPACE INC COM 150,290 138,525
    500 SHS BERKSHIRE HATHAWAY INC DEL CL B 69,066 72,395
    515 SHS BIO-TECHNE CORP COM 44,997 58,077
    854 SHS BROOKFIELD ASSET MANAGEMENT IN 31,169 28,242
    0.08 SHS BROOKFIELD ASSET MGMT INC VTG SHS CL A 1 2
    1499 SHS BRUKER CORP 28,409 34,087
    600 SHS BOEING CO 39,219 77,922
    3700 SHS C S X CORP 96,360 96,496
    4900 SHS CABOT OIL & GAS CORP 29,837 126,126
    2200 SHS CARNIVAL CORP PAIRED CTF 1 COM 107,325 97,159
    2150 SHS COMCAST CORP CL A 130,682 140,159
    800 SHS CHUBB LIMITED COM 100,515 104,568
    2000 SHS CONAGRA FOODS INC COM 94,819 95,620
    3201 SHS DENTSPLY INTERNATIONAL INC 168,571 198,590
    1175 SHS DIAGEO PLC 135,001 132,634
    1400 SHS WALT DISNEY CO 142,920 136,948
    450 SHS DTE ENERGY CO 36,581 44,604
    500 SHS EOG RES INC 24,655 41,710
    1161 SHS EXPEDITORS INTL WASH INC 54,291 56,935
    400 SHS FACEBOOK INC CL A 39,056 45,712
    40 SHS FACTSET RESEARCH SYSTEMS INC 5,998 6,457
    500 SHS FEDEX CORP 77,124 75,890
    1343 SHS FIRST REPUBLIC BANK/CA 77,220 93,997
    2750 SHS FLY LEASING LIMITED SPONSORED ADR 35,736 27,307
    207 SHS GARTNER INC COM 17,972 20,164
    581 SHS HEICO CORP 35,015 38,817
    800 SHS HONEYWELL INTL INC 45,317 93,056
    799 SHS IDEXX LABORATORIES INC 58,686 74,195
    462 SHS IHS INC 52,028 53,412
    300 SHS JOHNSON & JOHNSON 20,880 36,390
    314 SHS KIRBY CORP 24,170 19,590
    1600 SHS LENNAR CORP CL A 75,531 73,760
    1200 SHS ELI LILLY & CO 83,252 94,500
    900 SHS LULULEMON ATHLETICA INC 45,073 66,474
    400 SHS LYONDELLBASELL INDUSTERIES N V COM 33,276 29,768
    350 SHS M & T BANK CORP 38,982 41,380
    1050 SHS MARRIOTT INTL INC NEW CL A 68,792 69,783
    975 SHS MCDONALD'S CORP 95,291 117,332
    214 SHS METTLER-TOLEDO INTERNATIONAL 71,012 78,093
    3475 SHS MICROSOFT CORP 128,450 177,816
    649 SHS MSC INDUSTRIAL DIRECT CO INC 47,197 45,793
    648 SHS MOHAWK INDUSTRIES INC 119,287 122,964
    1325 SHS NIKE INC 71,479 73,140
    1600 SHS OCCIDENTAL PETE CORP 86,380 120,896
    3000 SHS ORACLE CORPORATION 81,190 122,790
    199 SHS O'REILLY AUTOMOTIVE INC 41,588 53,949
    1350 SHS PACKAGING CORP AMER 17,567 90,356
    2016 SHS PAYCHEX INC 94,812 119,952
    1850 SHS PAYPAL HLDGS INC COM 69,800 67,544
    90 SHS PRICELINE GROUP INC 106,366 112,357
    500 SHS PERKINELMER INC 23,457 26,210
    8600 SHS PFIZER INC 129,066 302,806
    900 SHS PIONEER NATURAL RESOURCES CO 45,651 136,089
    1200 SHS PNC FINANCIAL SVCS GROUP INC 105,909 97,668
    327 SHS POLARIS INDUSTRIES INC COM 26,975 26,736
    1774 SHS ROLLINS INC 40,501 51,925
    1800 SHS RYANAIR LTD ADR 145,268 125,172
    800 SHS STARBUCKS CORP 40,325 45,696
    559 SHS SENSATA TECHNOLOGIES HOLDING 28,744 19,504
    179 SHS SHERWIN-WILLIAMS CO/THE 51,350 52,567
    1706 SHS SIGNET JEWELERS LTD 208,191 140,591
    450 SHS SS&C TECHNOLOGIES HOLDINGS INC 18,983 12,636
    1750 SHS TEVA PHARMACEUTICAL INDUSTRIES ADR 97,803 87,903
    523 SHS TELEFLEX INC 70,321 92,733
    1300 SHS TEXTRON INC 36,308 47,528
    1925 SHS TIME WARNER INC 157,410 141,565
    1150 SHS THE TRAVELERS COMPANIES INC 43,431 136,896
    298 SHS TRANSDIGM GROUP INC 64,146 78,580
    1574 SHS TRIMBLE NAVIGATION LTD 38,030 38,343
    1550 SHS UNITED CONTINENTAL HLDGS INC 64,410 63,612
    1150 SHS UNITED PARCEL SERVICE INC 115,108 123,878
    2400 SHS UNUM GROUP 33,161 76,296
    1160 SHS VISA INC 79,343 86,037
    774 SHS WABTEC COM 66,837 54,358
    1725 SHS WALMART STORES INC COM 107,485 125,960
    1666 SHS WHOLE FOODS MARKET INC 50,386 53,345
    4549 SHS WILLIAMS-SONOMA INC 306,022 237,140
    730 SHS WATTS WATER TECHNOLOGIES INC 38,197 42,530
    503 SHS WEST PHARMACEUTICAL SVCS INC COM 28,358 38,168
    350 SHS WHIRLPOOL CORP 61,439 58,324
    644 SHS WOLVERINE WORLD WIDE INC 10,318 13,086
    1500 SHS NESTLE SA 116,638 115,745
    650 SHS LVMH MOET HENNESSY LOUIS VUITT 119,387 98,194
    525 SHS HEINEKEN NV 48,491 48,268
    INSTITUTIONAL DIVERSIFIED ARBITRAGE STRATEGIES 4,415,635 4,406,955

    TY 2015 LegalFeesSchedule
    Name:
    THE LIPMAN FAMILY FOUNDATION INC
    EIN:
    13-6066963
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 11,512 11,512   0


    TY 2015 OtherAssetsSchedule
    Name:
    THE LIPMAN FAMILY FOUNDATION INC
    EIN:
    13-6066963
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED DIVIDEND 6,079 4,379 4,379
    PENDING TRADES RECEIVABLE 0 60,301 60,301
    FINE ARTS 3,618,100 3,508,300 30,504,250


    TY 2015 OtherExpensesSchedule
    Name:
    THE LIPMAN FAMILY FOUNDATION INC
    EIN:
    13-6066963
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FILING FEE 750 750   0
    ADR FEES 2,338 2,320   0
    INVESTMENT ADVISORY FEE 114,373 114,373   0
    SHIPPING FEES 1,802 0   1,802
    DECREASED IN ACCRUED INCOME 3,452 0   0


    TY 2015 OtherIncomeSchedule2
    Name:
    THE LIPMAN FAMILY FOUNDATION INC
    EIN:
    13-6066963
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    FOREIGN EXCHANGE 71 71 71


    TY 2015 OtherIncreasesSchedule
    Name:
    THE LIPMAN FAMILY FOUNDATION INC
    EIN:
    13-6066963
    Description Amount
    UNREALIZED GAIN ON DONATED PROPERTY 872,700


    TY 2015 OtherLiabilitiesSchedule
    Name:
    THE LIPMAN FAMILY FOUNDATION INC
    EIN:
    13-6066963
    Description Beginning of Year - Book Value End of Year - Book Value
    PENDING TRADES PAYABLE 32,244 4,339
    CUSTOMER DEPOSIT 0 1,752,000


    TY 2015 TaxesSchedule
    Name:
    THE LIPMAN FAMILY FOUNDATION INC
    EIN:
    13-6066963
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 40,000 0   0
    FOREIGN TAX 1,341 1,341   0