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 ISABEL FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)111 EAST COURT STREET NO 3D
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
FLINT, MI485021649
A Employer identification number

38-2853004
B Telephone number (see instructions)

(810) 767-0136
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$60,687,490J 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 222 222  
4 Dividends and interest from securities... 790,502 822,748  
5a Gross rents............ 7,492 7,492  
b Net rental income or (loss) 4,902
6a Net gain or (loss) from sale of assets not on line 10 1,397,608
b Gross sales price for all assets on line 6a 21,440,073
7 Capital gain net income (from Part IV, line 2)... 1,397,608
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 2,195,824 2,228,070  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 30,000 1,500   28,500
14 Other employee salaries and wages...... 49,999 0   49,999
15 Pension plans, employee benefits....... 15,589 779   14,810
16a Legal fees (attach schedule)......... Click to see attachment 5,509 0   5,509
b Accounting fees (attach schedule)....... Click to see attachment 136,500 125,500   11,000
c Other professional fees (attach schedule).... Click to see attachment 17,600 0   17,600
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 11,388 17,566   5,991
19 Depreciation (attach schedule) and depletion... Click to see attachment 2,658 2,590  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 31,820 1,423   30,397
22 Printing and publications.......... 650 0   650
23 Other expenses (attach schedule)....... Click to see attachment 220,006 187,394   32,612
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 521,719 336,752   197,068
25 Contributions, gifts, grants paid....... 3,074,950 3,074,950
26 Total expenses and disbursements. Add lines 24 and 25 3,596,669 336,752   3,272,018
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,400,845
b Net investment income (if negative, enter -0-) 1,891,318
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............. 142,416 398,084 398,084
2 Savings and temporary cash investments......... 2,708,154 725,866 725,866
3 Accounts receivable bullet45,425
Less: allowance for doubtful accounts bullet   131,219 45,425 45,425
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)....... 32,557,653 Click to see attachment30,053,413 35,299,921
c Investments—corporate bonds (attach schedule)....... 4,511,378 Click to see attachment5,602,709 5,665,614
11 Investments—land, buildings, and equipment: basis bullet101,010
Less: accumulated depreciation (attach schedule) bullet52,709 50,889 Click to see attachment48,301 48,301
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 14,060,688 Click to see attachment15,090,107 16,859,445
14 Land, buildings, and equipment: basis bullet922
Less: accumulated depreciation (attach schedule) bullet888 102 Click to see attachment34 34
15 Other assets (describe bullet) Click to see attachment1,241,129 Click to see attachment1,241,129 Click to see attachment1,644,800
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 55,403,628 53,205,068 60,687,490
Liabilities 17 Accounts payable and accrued expenses.......... 237,000 141,200
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 attachment1,910,753 Click to see attachment1,113,038
23 Total liabilities (add lines 17 through 22)......... 2,147,753 1,254,238
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........ 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 53,255,875 51,950,830
30 Total net assets or fund balances (see instructions)..... 53,255,875 51,950,830
31 Total liabilities and net assets/fund balances (see instructions). 55,403,628 53,205,068
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
53,255,875
2
Enter amount from Part I, line 27a .....................
2
-1,400,845
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
95,800
4
Add lines 1, 2, and 3 ..........................
4
51,950,830
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
51,950,830
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 500 PIONEER NATURAL RESOURCES CO PXD   2015-01-30 2015-07-07
b 800 MCDONALDS CORP COM MCD   2011-02-22 2015-07-23
c 1000 MCDONALDS CORP COM MCD   2011-03-15 2015-07-23
d 1000 TIME WARNER INC TWX   2014-07-17 2015-08-27
e 1100 TIME WARNER INC TWX   2014-08-19 2015-08-27
310 CHEMOURS (THE) CO SHS CC   2005-09-21 2015-09-09
440 CHEMOURS (THE) CO SHS CC   2005-10-13 2015-09-09
1000 TJX COS INC NEW TJX   2014-09-04 2015-09-14
650 COGNIZANT TECH SOLUTIONS-A CTSH   2012-09-11 2015-09-14
1800 MICROCHIP TECHNOLOGY INC MCHP   2014-11-19 2015-10-15
700 MICROCHIP TECHNOLOGY INC MCHP   2014-10-28 2015-10-15
1200 AIR PRODUCTS & CHEMICALS INC APD   2009-03-02 2015-10-22
1300 COGNIZANT TECH SOLUTIONS-A CTSH   2012-09-11 2015-11-03
2200 COGNIZANT TECH SOLUTIONS-A CTSH   2012-11-20 2015-11-03
723 OLD DOMINION FGHT LINES INC ODFL   2013-11-11 2015-11-03
1477 OLD DOMINION FGHT LINES INC ODFL   2013-11-08 2015-11-03
1550 DU PONT E I DE NEMOURS DD   2005-09-21 2015-11-03
2200 DU PONT E I DE NEMOURS DD   2005-10-13 2015-11-03
5350 GLAXOSMITHKLINE PLC ADR GSK   2014-11-19 2015-11-30
450 KANSAS CITY SOUTHERN KSU   2015-11-04 2015-12-11
850 KANSAS CITY SOUTHERN KSU   2014-03-17 2015-12-11
800 KANSAS CITY SOUTHERN KSU   2014-03-06 2015-12-11
3900 MORGAN STANLEY MS   2015-03-06 2016-01-21
3400 MORGAN STANLEY MS   2015-01-16 2016-01-21
2100 AMERICAN EXPRESS CO AXP   2003-06-25 2016-01-21
700 EOG RESOURCES INC EOG   2014-02-26 2016-01-21
350 EOG RESOURCES INC EOG   2014-10-28 2016-01-21
1800 EOG RESOURCES INC EOG   2014-01-29 2016-01-21
50 ALPHABET INC/CA-CL C GOOG   2015-11-04 2016-04-05
550 APPLE INC AAPL   2012-10-26 2016-04-05
1100 COCA COLA COM KO   2008-07-30 2016-04-05
350 DISNEY (WALT) CO COM STK DIS   2013-08-07 2016-04-05
800 HOME DEPOT INC HD   2008-10-10 2016-04-05
750 JPMORGAN CHASE & CO JPM   2013-02-22 2016-04-05
550 MICROCHIP TECHNOLOGY INC MCHP   2014-10-28 2016-04-05
650 QUALCOMM INC QCOM   2006-10-03 2016-04-05
50 QUALCOMM INC QCOM   2006-08-01 2016-04-05
550 TJX COS INC NEW TJX   2014-10-28 2016-04-05
350 UNITED TECHS CORP COM UTX   2010-12-29 2016-04-05
650 VISA INC CL A SHRS V   2014-09-03 2016-04-05
200 ADVANCE AUTO PARTS INC AAP   2015-12-17 2016-04-05
650 AMERICAN AIRLS GROUP INC AAL   2015-09-30 2016-04-05
250 ANADARKO PETE CORP APC   2014-10-28 2016-04-05
250 ANADARKO PETE CORP APC   2007-01-08 2016-04-05
300 STANLEY BLACK & DECKER INC SWK   2012-06-28 2016-04-05
25 BLACKROCK INC BLK   2012-10-19 2016-04-05
125 BLACKROCK INC BLK   2012-09-11 2016-04-05
800 CBS CORP-CLASS B NON VOTING CBS   2014-12-12 2016-04-05
400 CME GROUP INC CME   2015-11-04 2016-04-05
600 CONOCOPHILLIPS COP   2014-10-28 2016-04-05
500 DOW CHEMICAL CO DOW   2015-11-04 2016-04-05
500 DOW CHEMICAL CO DOW   2014-12-12 2016-04-05
700 DUNKIN' BRANDS GROUP INC DNKN   2015-03-23 2016-04-05
1300 EMC CORP/MA EMC   2013-06-11 2016-04-05
250 EMC CORP/MA EMC   2006-12-01 2016-04-05
850 EBAY INC COM EBAY   2015-11-04 2016-04-05
200 EBAY INC COM EBAY   2014-03-21 2016-04-05
300 JONES LANG LASALLE INC JLL   2013-06-20 2016-04-05
600 LOWES COS COS INC LOW   2012-11-12 2016-04-05
1150 MONDELEZ INTL INC MDLZ   2013-11-07 2016-04-05
350 NORFOLK SOUTHERN CORP NSC   2012-05-31 2016-04-05
1100 PAYPAL HOLDINGS INC PYPL   2014-03-21 2016-04-05
500 PEPSICO INC PEP   2009-08-13 2016-04-05
550 PHILLIPS 66 PSX   2014-09-03 2016-04-05
250 PIONEER NATURAL RESOURCES CO PXD   2016-01-22 2016-04-05
1900 REGAL ENTMT GROUP CL A RGC   2015-06-12 2016-04-05
100 SCHLUMBERGER LTD SLB   2008-09-30 2016-04-05
350 SCHLUMBERGER LTD SLB   2010-06-02 2016-04-05
350 UNITED PARCEL SVC CL B UPS   2015-03-18 2016-04-05
750 VERIZON COMMUNICATNS COM VZ   2008-04-11 2016-04-05
650 WASTE MANAGEMENT INC NEW WM   2010-08-24 2016-04-05
500 WYNDHAM WORLDWIDE CORP WYN   2015-07-30 2016-04-05
194.953 VANGUARD 500 INDEX FUND VFIAX   2014-12-17 2015-09-29
170.869 VANGUARD 500 INDEX FUND VFIAX   2014-06-20 2015-09-29
209.519 VANGUARD 500 INDEX FUND VFIAX   2014-01-27 2015-09-29
2722.718 VANGUARD 500 INDEX FUND VFIAX   2014-01-27 2016-01-06
910.036 VANGUARD 500 INDEX FUND VFIAX   2014-01-27 2016-06-23
628.978 VANGUARD 500 INDEX FUND VFIAX   2013-08-22 2016-06-23
2803.214 VANGUARD REIT INDEX FUND VGSLX   2013-11-06 2015-09-30
1868.81 VANGUARD REIT INDEX FUND VGSLX   2013-11-06 2015-09-30
1387.465 VANGUARD REIT INDEX FUND VGSLX   2013-11-06 2016-01-07
1309.892 VANGUARD REIT INDEX FUND VGSLX   2014-01-30 2016-01-07
202080.3561 WORLD ASSET MGMT INTERNATIONAL FUND WAMIF   2011-12-31 2015-12-18
1106.653 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2013-01-15 2016-01-05
862.598 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2012-12-19 2016-01-05
12734.043 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2012-01-27 2016-01-05
121.916 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2013-03-21 2016-01-05
1420.858 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2013-04-16 2016-01-05
1031.991 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2012-09-21 2016-01-05
771.888 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2013-09-20 2016-01-05
503.048 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2013-12-19 2016-01-05
549.834 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2009-12-23 2016-01-05
6819.736 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2012-01-13 2016-01-05
404.19 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2014-12-19 2016-01-05
11352.22 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2012-07-13 2016-01-05
8900.7 TIF INTERNATIONAL EQUITYSERIES INSTITUTIONA TFEQX   2008-01-28 2016-01-06
2046.207 TIF INTERNATIONAL EQUITYSERIES INSTITUTIONA TFEQX   2008-03-27 2016-01-06
1797.627 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2012-07-13 2016-01-22
254.96 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2014-03-24 2016-01-22
1174.393 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2011-12-20 2016-01-22
1228.814 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2013-06-21 2016-01-22
5752.454 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2010-05-24 2016-01-22
706.488 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2010-05-24 2016-03-10
41219.008 VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS VEMAX   2009-07-30 2016-03-10
1507 SOLARCITY CORPORATION SCTY   2007-08-10 2015-08-05
2.5632 NORTHPOINTE - RESIDUAL CHB008076   2009-11-13 2015-12-31
1187 SOLARCITY CORPORATION SCTY   2007-08-10 2016-01-04
1182 SOLARCITY CORPORATION SCTY   2007-08-10 2016-01-05
4115 ARES CAPITAL CORP ARCC   2010-04-01 2016-02-10
390 ARES CAPITAL CORP ARCC   2010-04-01 2016-02-10
747.5 ARES CAPITAL CORP ARCC   2010-04-01 2016-02-10
747.5 ARES CAPITAL CORP ARCC   2010-04-01 2016-02-10
780 ARES CAPITAL CORP ARCC   2010-04-01 2016-02-10
520 ARES CAPITAL CORP ARCC   2010-04-01 2016-02-10
3500 ARES CAPITAL CORP ARCC   2011-05-18 2016-02-10
1068.92 SOLARCITY CORPORATION SCTY   2008-10-28 2016-03-14
162.27 SOLARCITY CORPORATION SCTY   2007-08-10 2016-03-14
296.18 SOLARCITY CORPORATION SCTY   2009-10-16 2016-04-19
302.28 SOLARCITY CORPORATION SCTY   2008-10-28 2016-04-19
313.7 SOLARCITY CORPORATION SCTY   2009-10-16 2016-04-19
320.16 SOLARCITY CORPORATION SCTY   2008-10-28 2016-04-19
5950 KINDER MORGAN INC. DEL KMI   2015-02-25 2015-11-04
9718.173 STEELPATH MLP SELECT 40 CL I OSPSX   2015-10-12 2016-03-23
527.163 STEELPATH MLP SELECT 40 CL I OSPSX   2013-11-07 2016-03-23
7775.051 STEELPATH MLP SELECT 40 CL I OSPSX   2012-04-23 2016-03-23
65387.966 STEELPATH MLP SELECT 40 CL I OSPSX   2012-02-06 2016-03-23
447.234 STEELPATH MLP SELECT 40 CL I OSPSX   2011-11-08 2016-03-23
6943.235 STEELPATH MLP SELECT 40 CL I OSPSX   2011-11-15 2016-03-23
12225.985 STEELPATH MLP SELECT 40 CL I OSPSX   2011-11-07 2016-03-23
14781.614 STEELPATH MLP SELECT 40 CL I OSPSX   2011-11-07 2016-03-23
9971 PERSHING SQUARE HOLDINGS USD PAR ORDINARY PSHZF   2015-02-05 2015-08-27
15150 PERSHING SQUARE HOLDINGS USD PAR ORDINARY PSHZF   2012-12-31 2015-08-28
1646 PERSHING SQUARE HOLDINGS USD PAR ORDINARY PSHZF   2015-02-05 2015-08-31
5165 PERSHING SQUARE HOLDINGS USD PAR ORDINARY PSHZF   2015-02-05 2015-09-01
320 OTTER CREEK INTL SERIES 2-11 DCN180939   2011-08-01 2015-11-02
509 OTTER CREEK INTL SERIES 1-09 DCN180936   2009-01-01 2015-11-02
151 TACONIC OFFSHORE 1.5 LTD CL A-NR SER 1 DCN181161   2011-08-01 2016-01-31
13 TACONIC OFFSHORE 1.5 LTD CL A-NR SER 1 DCN181161   2010-11-01 2016-01-31
123 TACONIC OFFSHORE 1.5 LTD CL A-NR SER 1 DCN181161   2010-11-01 2016-04-30
509 OTTER CREEK INTL SERIES 1-09 DCN180936   2009-01-01 2016-05-23
320 OTTER CREEK INTL SERIES 2-11 DCN180939   2011-08-01 2016-05-23
0 COUNTRYWIDE FINANCIAL CORPORATION CFCOLD   2015-05-05 2016-05-06
ROUNDING P   2015-12-31
FROM MFO D&D SMID CAP VALUE FUND JOINT VENTURE STMT P   2015-12-31
FROM MFO D&D SMID CAP VALUE FUND JOINT VENTURE STMT P   2015-12-31
FROM MFO WESTFIELD FUND B JOINT VENTURE STMT P   2015-12-31
FROM MFO WESTFIELD FUND B JOINT VENTURE STMT P   2015-12-31
FROM MFO TOWLE FUND JOINT VENTURE STMT P   2015-12-31
FROM MFO TOWLE FUND JOINT VENTURE STMT P   2015-12-31
WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 P   2015-12-31
WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 P   2015-12-31
WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 P   2015-12-31
WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 P   2015-12-31
FROM CROSSLINK VENTURES VI, LP SCHEDULE K-1 P   2015-12-31
FROM CROSSLINK VENTURES VI, LP SCHEDULE K-1 P   2015-12-31
FROM ARBORETUM III, LP SCHEDULE K-1 P   2015-12-31
FROM DRAPER FISHER JURVETSON GROWTH FUND 2006, LP SCHEDULE K-1 P   2015-12-31
FROM HAGGERTY CORRIDOR PARTNERS SCHEDULE K-1 P   2015-12-31
FROM ARNP (EPE AIV) LP SCHEDULE K-1 P   2015-12-31
TWC - VISA INC/TRIAL PAY DOUBLE REPORTED P   2015-04-08
CAPITAL GAINS DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 65,696   74,233 -8,537
b 78,362   61,012 17,350
c 97,953   74,903 23,050
d 73,112   85,714 -12,602
e 80,423   84,706 -4,283
2,905   3,066 -161
4,123   4,280 -157
71,507   61,219 10,288
40,540   21,887 18,653
85,742   76,700 9,042
33,344   28,813 4,531
164,953   54,628 110,325
89,027   43,774 45,253
150,661   72,279 78,382
45,579   34,776 10,803
93,112   70,302 22,810
99,712   57,234 42,478
141,526   79,881 61,645
216,680   248,108 -31,428
33,628   39,222 -5,594
63,520   83,523 -20,003
59,783   78,077 -18,294
96,659   139,180 -42,521
84,267   118,198 -33,931
133,128   79,646 53,482
42,923   65,492 -22,569
21,461   31,834 -10,373
110,372   148,529 -38,157
36,932   36,457 475
60,554   47,474 13,080
51,254   28,492 22,762
33,800   23,108 10,692
107,854   15,617 92,237
43,965   36,514 7,451
26,939   22,455 4,484
32,487   23,174 9,313
2,499   1,719 780
42,708   34,422 8,286
34,969   27,785 7,184
49,836   34,934 14,902
31,880   30,868 1,012
25,289   24,946 343
11,153   22,431 -11,278
11,153   10,386 767
31,500   18,840 12,660
8,384   4,725 3,659
41,921   22,284 19,637
43,360   42,503 857
38,088   38,175 -87
23,427   41,724 -18,297
25,464   25,883 -419
25,464   22,127 3,337
32,519   33,856 -1,337
34,264   32,339 1,925
6,589   3,274 3,315
20,604   24,874 -4,270
4,848   4,492 356
35,000   26,777 8,223
45,510   19,160 26,350
46,992   37,127 9,865
28,324   23,211 5,113
42,255   38,207 4,048
51,656   28,233 23,423
46,450   48,325 -1,875
34,952   28,514 6,438
38,945   38,927 18
7,278   7,898 -620
25,475   19,433 6,042
36,366   35,017 1,349
40,554   25,059 15,495
37,783   21,696 16,087
37,484   41,150 -3,666
33,885   36,170 -2,285
29,699   30,929 -1,230
36,416   34,432 1,984
500,000   447,451 52,549
177,393   149,555 27,838
122,607   96,359 26,248
300,000   269,371 30,629
200,000   179,580 20,420
154,314   132,668 21,646
145,686   122,552 23,134
1,848,585   1,942,660 -94,075
29,371   41,234 -11,863
22,893   31,312 -8,419
337,962   450,000 -112,038
3,236   4,296 -1,060
37,710   50,000 -12,290
27,389   36,068 -8,679
20,486   26,576 -6,090
13,351   16,842 -3,491
14,593   18,342 -3,749
180,996   225,000 -44,004
10,727   13,270 -2,543
301,288   371,218 -69,930
162,616   230,350 -67,734
37,384   52,649 -15,265
44,024   58,782 -14,758
6,244   8,233 -1,989
28,761   36,876 -8,115
30,094   38,241 -8,147
140,878   178,124 -37,246
19,301   21,876 -2,575
1,126,103   1,200,000 -73,897
91,640   3,619 88,021
2,563   17,942 -15,379
58,736   2,851 55,885
59,311   2,839 56,472
52,877   410,731 -357,854
5,011   35,768 -30,757
9,605   68,442 -58,837
9,605   56,414 -46,809
10,023   57,661 -47,638
6,682   33,684 -27,002
44,974   59,238 -14,264
27,416   5,560 21,856
4,162   390 3,772
8,976   1,602 7,374
9,161   1,572 7,589
9,384   1,697 7,687
9,577   1,665 7,912
158,806   250,983 -92,177
83,090   96,570 -13,480
4,507   5,142 -635
66,477   70,059 -3,582
559,067   533,646 25,421
3,824   3,422 402
59,365   52,868 6,497
104,532   88,899 15,633
126,383   104,428 21,955
251,434   255,274 -3,840
388,238   259,760 128,478
42,115   42,140 -25
128,927   132,232 -3,305
322,771   300,000 22,771
1,284,961   956,000 328,961
356,300   300,000 56,300
30,675   25,743 4,932
297,630   243,564 54,066
35,243     35,243
8,374     8,374
243     243
      7
924,047   958,802 -34,755
76,411   60,006 16,405
797,014   902,353 -105,339
908,856   677,920 230,936
223,941   508,508 -284,567
1,154,205   775,757 378,448
49,297   55,430 -6,133
1,831,398   1,718,670 112,728
    84,049 -84,049
36,734     36,734
118     118
    21,563 -21,563
    23,887 -23,887
7,201     7,201
738,608     738,608
2,056     2,056
26,278   26,278 0
11,826     11,826
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       -8,537
b       17,350
c       23,050
d       -12,602
e       -4,283
      -161
      -157
      10,288
      18,653
      9,042
      4,531
      110,325
      45,253
      78,382
      10,803
      22,810
      42,478
      61,645
      -31,428
      -5,594
      -20,003
      -18,294
      -42,521
      -33,931
      53,482
      -22,569
      -10,373
      -38,157
      475
      13,080
      22,762
      10,692
      92,237
      7,451
      4,484
      9,313
      780
      8,286
      7,184
      14,902
      1,012
      343
      -11,278
      767
      12,660
      3,659
      19,637
      857
      -87
      -18,297
      -419
      3,337
      -1,337
      1,925
      3,315
      -4,270
      356
      8,223
      26,350
      9,865
      5,113
      4,048
      23,423
      -1,875
      6,438
      18
      -620
      6,042
      1,349
      15,495
      16,087
      -3,666
      -2,285
      -1,230
      1,984
      52,549
      27,838
      26,248
      30,629
      20,420
      21,646
      23,134
      -94,075
      -11,863
      -8,419
      -112,038
      -1,060
      -12,290
      -8,679
      -6,090
      -3,491
      -3,749
      -44,004
      -2,543
      -69,930
      -67,734
      -15,265
      -14,758
      -1,989
      -8,115
      -8,147
      -37,246
      -2,575
      -73,897
      88,021
      -15,379
      55,885
      56,472
      -357,854
      -30,757
      -58,837
      -46,809
      -47,638
      -27,002
      -14,264
      21,856
      3,772
      7,374
      7,589
      7,687
      7,912
      -92,177
      -13,480
      -635
      -3,582
      25,421
      402
      6,497
      15,633
      21,955
      -3,840
      128,478
      -25
      -3,305
      22,771
      328,961
      56,300
      4,932
      54,066
      35,243
      8,374
      243
      7
      -34,755
      16,405
      -105,339
      230,936
      -284,567
      378,448
      -6,133
      112,728
      -84,049
      36,734
      118
      -21,563
      -23,887
      7,201
      738,608
      2,056
      0
      11,826
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 1,397,608
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 3,154,430 65,121,359 0.048439
2013 2,976,439 64,497,602 0.046148
2012 2,769,948 60,096,593 0.046092
2011 2,848,093 56,664,041 0.050263
2010 2,646,720 58,448,881 0.045283
2
Total of line 1, column (d) .....................
20.236225
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
0.047245
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
59,539,913
5
Multiply line 4 by line 3......................
5
2,812,963
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
18,913
7
Add lines 5 and 6........................
7
2,831,876
8
Enter qualifying distributions from Part XII, line 4.............
8
3,272,018
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 18,913
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 18,913
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 18,913
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 56,783
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 56,783
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 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 37,870
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet37,870 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMI
    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 addressbulletWWW.ISABEL.ORG
    14
    The books are in care ofbulletROBERT T BROWNLEE JR Telephone no.bullet (810) 767-0136

    Located atbullet111 EAST COURT STREET SUITE 3DFLINTMI ZIP+4bullet485021649
    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?
    16Yes  
    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 bulletEI
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    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
    WILLIAM S WHITE VICE PRESIDENT & SECRETARY
    0.00     		0 0 0
    111 EAST COURT STREET SUITE 3D
    FLINT,MI485021649
    TIFFANY W LOVETT PRESIDENT
    15.00     		30,000 15,589 0
    111 EAST COURT STREET SUITE 3D
    FLINT,MI485021649
    RIDGWAY H WHITE TREASURER
    0.00     		0 0 0
    111 EAST COURT STREET SUITE 3D
    FLINT,MI485021649
    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
    MFO MANAGEMENT COMPANY ACCOUNTING/ INVESTMENT ADVICE 130,000
    111 E COURT ST SUITE 3D
    FLINT,MI48502
    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 THE INLANDER COLLECTION - THE FOUNDATION LEASES A COLLECTION OF ARTWORK AT NO COST TO THE FLINT INSTITUTE OF ARTS, A PUBLIC CHARITY, FOR PUBLIC DISPLAY BY THE FLINT INSTITUTE OF ARTS. THE FLINT INSTITUTE OF ARTS IS THE SECOND LARGEST ART MUSEUM IN THE STATE OF MICHIGAN AND, EACH YEAR, MORE THAN 160,000 PEOPLE VISIT THE FLINT INSTITUTE OF ART'S GALLERIES (FREE OF CHARGE) AND PARTICIPATE IN ITS PROGRAMS AND SERVICES.APPRAISAL FEES OF $2,850 WERE PAID DURING THE FISCAL PERIOD. 2,850
    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 THE FOUNDATION DOES NOT MAKE ANY PROGRAM RELATED INVESTMENTS 0
    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
    40,533,697
    b
    Average of monthly cash balances.......................
    1b
    4,566,119
    c
    Fair market value of all other assets (see instructions)................
    1c
    15,346,796
    d
    Total (add lines 1a, b, and c).........................
    1d
    60,446,612
    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
    60,446,612
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    906,699
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    59,539,913
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,976,996
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    2,976,996
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    18,913
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    18,913
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,958,083
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,958,083
    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
    2,958,083
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    3,272,018
    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
    3,272,018
    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
    18,913
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,253,105
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 2,958,083
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 3,069,950
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 3,272,018
    a Applied to 2014, but not more than line 2a 3,069,950
    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..... 202,068
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		2,756,015
    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 ......     		0
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
             
    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 e-mail address of the person to whom applications should be addressed:
    TIMOTHY C SANFORD FAX 810 767-1207
    C/O MFO MANAGEMENT COMPANY 111 E
    COURT STREET SUITE 3D
    FLINT,MI485021649
    (810) 767-0136
    bThe form in which applications should be submitted and information and materials they should include:
    INITIAL SUBMISSION SHOULD BE IN THE FORM OF A LETTER EXPLAINING THE ORGANIZATION AND THE PURPOSE OF THE REQUEST.
    cAny submission deadlines:
    A FORMAL SUBMISSION DEADLINE HAS NOT BEEN ESTABLISHED BUT GRANTS ARE MADE PRIMARILY IN JUNE.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE ORGANIZATION WAS FORMED TO MAINTAIN A FUND OR FUNDS SO THAT THE INCOME THEREFROM AND THE PRINCIPAL THEREOF CAN BE USED TO PROVIDE FINANCIAL SUPPORT TO RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL ACTIVITIES EITHER DIRECTLY, OR THROUGH DIRECT CONTRIBUTIONS, GIFTS AND GRANTS TO OTHER ORGANIZATIONS, WHICH CARRY ON SUCH ACTIVITIES AND ARE TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE MAJORITY OF, AND AT LEAST SEVENTY-FIVE PERCENT OF, CONTRIBUTIONS, GIFTS AND GRANTS MADE ANNUALLY ARE TO BE MADE TO OTHER TAX-EXEMPT CHARITABLE AND RELIGIOUS ORGANIZATIONS DEDICATED TO SUPPORTING OR CONTRIBUTING TO THE CAUSE OF CHRISTIAN SCIENCE.
    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
    ADVENTURE UNLIMITED
    5201 SOUTH QUEBEC STREET
    GREENWOOD VILLAGE,CO80111     		NONE PC ANNUAL CAMPAIGN, 2016 - 2018 PLEDGE 250,000
    ADVENTURE UNLIMITED
    5201 SOUTH QUEBEC STREET
    GREENWOOD VILLAGE,CO80111     		NONE PC CAPITAL CAMPAIGN - BRIDGES TO THE FUTURE 50,000
    ALBERT BAKER FUND THE
    PO BOX 179
    AMADOR CITY,CA956010179     		NONE PC ABF CAREER ALLIANCE REGIONAL WORKSHOPS - CONFERENCE/SEMINARS; PROGRAM DEVELOPMENT 40,000
    AMERICAN CORPORATION FOR THE ARTS
    6233 HOLLYWOOD BOULEVARD
    LOS ANGELES,CA90028     		NONE PC GENERAL OPERATING 5,750
    ARDEN WOOD INC
    445 WAWONA STREET
    SAN FRANCISCO,CA94116     		NONE PC GENERAL OPERATING 85,000
    ARTSCONNECTION INC
    520 EIGHTH AVENUE SUITE 321
    NEW YORK,NY10018     		NONE PC GENERAL OPERATING 2,500
    ASSOCIATION OF ORGANIZATIONS FOR CHRISTIAN SCIENCE NURSING
    SUNLAND HOME FOUNDATION 691 SPARTA
    DRIVE
    ENCINITAS,CA92024     		NONE PC CONFERENCE/SEMINARS - AOCSN CONFERENCE IN ALEXANDRIA 10,000
    BEACON HAVEN
    1200 LONG LAKE ROAD
    NEW BRIGHTON,MN55112     		NONE PC 2016 - 2018 PLEDGE, INVESTING IN THE FUTURE OF CHRISTIAN SCIENCE NURSING, GENERAL OPERATING 30,000
    BRANCH SCHOOL THE
    1424 SHERWOOD FOREST STREET
    HOUSTON,TX77043     		NONE PC GENERAL OPERATING: SCHOLARSHIP/FELLOWSHIP FUNDS 10,000
    BROADVIEW INC
    4570 GRIFFIN AVENUE
    LOS ANGELES,CA90031     		NONE PC GENERAL OPERATING 80,000
    CAMPERSHIP FUND FOR CHRISTIAN SCIENTISTS IN THE
    SOUTHEAST THE 2860 UMBERLAND DRIVE
    ATLANTA,GA30340     		NONE PC 2015 - 2017 PLEDGE - CAMPERSHIPS, GENERAL OPERATING 15,000
    CAMPS LEELANAU & KOHAHNA FOUNDATION INC
    1653 PORT ONEIDA ROAD
    MAPLE CITY,MI49664     		NONE PC GENERAL OPERATING 55,000
    CAMPS NEWFOUNDOWATONNA CORPORATION
    4 CAMP NEWFOUND ROAD
    HARRISON,ME040409987     		NONE PC GENERAL OPERATING 55,000
    CANTERBURY CREST INC
    P O BOX 19147
    PORTLAND,OR972800147     		NONE PC GENERAL OPERATING 5,000
    CEDARS CAMPS THE
    1314 PARKVIEW VALLEY DRIVE
    MANCHESTER,MO630114201     		NONE PC GENERAL OPERATING 65,000
    CHESTNUT HILL BENEVOLENT ASSOCIATION
    910 BOYLSTON STREET
    CHESTNUT HILL,MA024672400     		NONE PC ANNUAL CAMPAIGN 75,000
    CLEARVIEW HOME CORPORATION
    P O BOX 180198 935 MAIN STREET
    DELAFIELD,WI53018     		NONE PC 2016 - 2018 PLEDGE, BUILDING FOR THE FUTURE OF CHRISTIAN SCIENCE NURSING, GENERAL OPERATING 25,000
    COALITION FOR ENGAGED EDCATION
    3131 OLYMPIC BOULEVARD
    SANTA MONICA,CA90404     		NONE PC GENERAL OPERATING 10,000
    COMMUNITY FOUNDATION OF GREATER FLINT
    500 S SAGINAW STREET SUITE 200
    FLINT,MI485021856     		NONE PC FLINT CHILD HEALTH AND DEVELOPMENT FUND 2016 75,000
    COUNCIL OF MICHIGAN FOUNDATIONS
    ONE SOUTH HARBOR AVENUE
    GRAND HAVEN,MI49417     		NONE PC GENERAL OPERATING 7,200
    CRYSTAL LAKE CAMPS INC
    1676 CRYSTAL LAKE ROAD
    HUGHESVILLE,PA17737     		NONE PC GENERAL OPERATING 55,000
    DAYSTAR INC
    3800 SOUTH FLAMINGO ROAD
    FORT LAUDERDALE,FL333301699     		NONE PC BULDING/RENOVATION 40,000
    DOMINION FOUNDATION THE
    P O BOX 17855
    RICHMOND,VA23226     		NONE PC INTERNATIONAL CHRISTIAN SCIENCE NURSE EDUCATION PROGRAM, GENERAL OPERATING 60,000
    E3 ELEVATING EDUCATION EVERYWHERE
    11124 KINGSTON PIKE
    KNOXVILLE,TN37934     		NONE PC GENERAL OPERATING 20,000
    FERN LODGE INC
    18457 MADISON AVENUE
    CASTRO VALLEY,CA945461699     		NONE PC GENERAL OPERATING 60,000
    FIRST CHURCH OF CHRIST SCIENTIST BOSTON THE
    210 MASSACHUSETTS AVENUE P05-10
    BOSTON,MA021153195     		NONE PC SUPPRT FOR THE CHRISTIAN SCIENCE MONITOR 150,000
    FIRST CHURCH OF CHRIST SCIENTIST FLINT THE
    901 HARRISON STREET
    FLINT,MI48502     		NONE PC GENERAL OPERATING 145,000
    FLINT COMMUNITY SCHOOLS
    923 E KEARSLEY STREET
    FLINT,MI48502     		NONE PC FREEMAN COMMUNITY SCHOOL LITERACY CENTER 15,000
    FLINT INSTITUTE OF ARTS THE
    1120 E KEARSLEY STREET
    FLINT,MI485031991     		NONE PC GENERAL OPERATING 250,000
    FOUNDATION FOR THE UPTOWN REINVESTMENT CORP
    519 S SAGINAW ST SUITE 200
    FLINT,MI48502     		NONE PC BUILDING/RENOVATIONS 100,000
    FRIENDS OF CAMP BOW-ISLE INC
    16880 SE 56TH PLACE
    BELLEVUE,WA980065524     		NONE PC GENERAL OPERATING 30,000
    FRIENDS OF GYA
    21781 VENTURA BLVD
    WOODLAND HILLS,CA91364     		NONE PC EQUIPMENT 26,000
    GENESEE COUNTY HABITAT FOR HUMANITY
    101 BURTON STREET
    FLINT,MI48503     		NONE PC BUILDING/RENOVATIONS 2,500
    GLENMONT
    4599 AVERY ROAD
    HILLIARD,OH430269786     		NONE PC GENRAL OPERATING 55,000
    HARMONY AT HOME FOUNDATION
    1030 AURORA AVENUE SUITE A-220
    NAPERVILLE,IL60540     		NONE PC 2016 - 2018 PLEDGE - MATCHED FUNDS FOR 2017 & 2018 GENERAL OPERATING EXPENSES, ANNUAL CAMPAIGN, GENERAL OPERATING 8,000
    HIGH RIDGE HOUSE INC
    5959 INDEPENDENCE AVENUE
    RIVERDALE,NY104711299     		NONE PC GENERAL OPERATING 40,000
    LEAVES INC THE
    1230 WEST SPRING VALLEY ROAD
    RICHARDSON,TX750807709     		NONE PC 2016 - 2018 PLEDGE - CONTINUING REFURBISHMENT. ANNUAL CAMPAIGN, BUILDING RENOVATIONS, CAPITAL IMPROVEMENTS 70,000
    LINK SCHOOL THE
    18885 COUNTY ROAD 367
    BUENA VISTA,CO81211     		NONE PC GENERAL OPERATING 25,000
    LONGYEAR FOUNDATION
    1125 BOYLSTON STREET
    CHESTNUT HILL,MA02467     		NONE PC INTERN PROGRAM - GENERAL OPERATING 10,000
    LYNN HOUSE OF POTOMAC VALLEY INC
    4400 WEST BRADDOCK ROAD
    ALEXANDRIA,VA223041010     		NONE PC BUILDING/RENOVATION 40,000
    METROPOLITAN OPERA ASSOCIATION INC
    LINCOLN CENTER
    NEW YORK,NY10023     		NONE PC GENERAL OPERATING 10,000
    MORNING LIGHT FOUNDATION INC
    P O BOX 7604
    ATLANTA,GA30357     		NONE PC GENERAL OPERATING 10,000
    NEW TEACHER CENTER
    725 FRONT STREET SUITE 400
    SANTA CRUZ,CA95060     		NONE PC GENERAL OPERATING 15,000
    OVERLOOK HOUSE INCORPORATED
    PO BOX 161070
    ROCKY RIVER,OH44116     		NONE PC 2016 FIELD TRAINING PROGRAM, PROGRAM DEVELOPMENT, ENDOWMENT FUNDS 15,000
    OLIVE GLEN FOUNDATION INC THE
    P O BOX 1482
    CARMICHAEL,CA956091482     		NONE PC GENERAL OPERATING 30,000
    PEACE HAVEN ASSOCIATION
    12630 ROTT ROAD
    ST LOUIS,MO631271214     		NONE PC 2016 - 2018 PLEDGE, TRAINING AND MENTORING GRANT, PROGRAM DEVELOPMENT 70,000
    PHILANTHROPY ROUNDTABLE THE
    1150 17TH STREET NW SUITE 503
    WASHINGTON,DC20036     		NONE PC GENERAL OPERATING 5,000
    PRINCIPIA THE
    13201 CLAYTON ROAD
    ST LOUIS,MO631311099     		NONE PC BUILDING/RENOVATION 200,000
    PRINCIPLE FOUNDATION THE
    2405 GRAND BOULEVARD SUITE 1040
    KANSAS CITY,MO64108     		NONE PC 2016 BENEVOLENCE FUND FOR CHRISTIAN SCIENCE NURSING 60,000
    PRINCIPLE FOUNDATION THE
    2405 GRAND BOULEVARD SUITE 1040
    KANSAS CITY,MO64108     		NONE PC 2016 GATHERING - CONFERENCE FOR LOCAL COMMITTEES OF THE PRINCIPLE FOUNDATION. CONFERENCES/SEMINARS 15,000
    RAINBOW VALLEY RANCH
    PO BOX 768
    WARRENSBURG,NY12885     		NONE PC ANNUAL OPERATING FUND, GENERAL OPERATING 10,000
    THE REGENTS OF THE UNIVERSITY OF MICHIGAN
    3003 S STATE STREET SUITE 5000
    ANN ARBOR,MI481091273     		NONE PC PROGRAM DEVELOPMENT 85,000
    SMITH COLLEGE
    33 ELM STREET
    NORTHAMPTON,MA01063     		NONE PC GENERAL OPERATING 35,000
    SOCIAL RESPONSIBILITY INC
    5132 SEVEN NILE POINTE RIDGE DR
    HARBOR SPRINGS,MI49740     		NONE PC PROJECT HOPE 2016 3,000
    SUNLAND HOME FOUNDATION
    691 SPARTA DRIVE
    ENCINITAS,CA92024     		NONE PC GENERAL OPERATING 40,000
    SUNRISE OF AFRICA SCHOOL CHARITABLE FOUNDATION INC
    PO BOX 695
    VENICE,FL34284     		NONE PC GENERAL OPERATING 25,000
    SUNRISE HAVEN
    P O BOX 6057
    KENT,WA98064     		NONE PC GENERAL OPERATING 35,000
    TENTH CHURCH OF CHRIST SCIENTIST - LOS ANGELES
    1133 SOUTH BUNDY DRIVE
    LOS ANGELES,CA90049     		NONE PC GENERAL OPERATING 30,000
    TWELVEACRES INC
    595 MILLICH DRIVE SUITE 104
    CAMPBELL,CA950080550     		NONE PC GENERAL OPERATING 60,000
    UCLA GRADUATE SCHOOL OF EDUCATION
    2403 MOORE HALL BOX 951521
    LOS ANGELES,CA900951521     		NONE GOV CAMPERSHIP; PROGRAM DEVELOPMENT 20,000
    VISITING CHRISTIAN SCIENCE NURSE SERVICE FOR MICHIGAN
    PO BOX 702072
    PLYMOUTH,MI48170     		NONE PC GENERAL OPERATING 10,000
    VISITING NURSE SERVICE FOR CHRISTIAN SCIENTISTS IN LOS ANGELES COUNTY INC
    P O BOX 9745
    GLENDALE,CA912260745     		NONE PC GENERAL OPERATING 5,000
    WIDE HORIZON INC
    8900 WEST 38TH AVENUE
    WHEAT RIDGE,CO80033     		NONE PC 2016 - 2018 PLEDGE, BENEVOLENCE, GENERAL OPERATING 80,000
    YMCA OF NORTHERN MICHIGAN
    622 HOWARD STREET
    PETOSKEY,MI49770     		NONE PC GENERAL OPERATING 5,000
    BOYS & GIRLS CLUBS OF GREATER FLINT
    3701 N AVERILL AVENUE
    FLINT,MI48506     		NONE PC SUMMER LEARNING LOSS PREVENTION AND PROMOTING HEALTHY LIFESTYLES 50,000
    Total .................................bullet 3a 3,074,950
    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 ...........     		    14 222  
    4 Dividends and interest from securities.... 900099 0 14 822,748  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 4,902  
    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 1,397,608  
    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 2,225,480 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    132,225,480
    (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 ISABEL FOUNDATION
    EIN:
    38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MFO MANAGEMENT FEE 130,000 125,500   4,500
    AUDIT AND TAX FEES 6,500 0   6,500

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

    TY 2015 DepreciationSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BUILDING 1995-10-23 101,010 50,119 SL 39.000000000000 2,590 2,590    
    SAMSUNG AIO COMPUTER 2013-08-29 922 359 200DB 3.000000000000 68 0    

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BLACKROCK FLOATING RATE INC PORTFOLIO, 143552.791 SHS. 1,502,297 1,435,528
    TEMPLETON GLOBAL BOND FUND, 49822.385 SHS 644,976 563,989
    VANGUARD ADMIRAL HIGH YIELD CORPORATE FD, 271381.876 SHS. 1,390,823 1,546,877
    VANGUARD ADMIRAL SHORT-TERM INVESTMENT GR, 196770.699 SHS 2,064,613 2,119,220

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ADVANCE AUTO PARTS INC, 1100 SHS 166,542 177,793
    ALPHABET INC/CA-CL C, 140.00 SHS. 94,578 96,894
    AMERICAN AIRLINES GROUP INC, 5700.00 SHS. 195,495 161,367
    ANADARKO PETROLEUM CORPORATION, 2350.00 SHS. 97,624 125,138
    APPLE INC, 2670 SHS. 193,216 255,252
    BLACKROCK INC, 675 SHS. 120,335 231,208
    CBS CORP NEW CL B 4000.00 SHS. 196,578 217,760
    CME GROUP INC, 1950 SHS 176,309 189,930
    COCA-COLA COMPANY (THE), 5300.00 SHS. 133,848 240,249
    CONOCOPHILLIPS, 2850.00 SHS. 120,359 124,260
    DISNEY (WALT) CO COM STK, 1850 SHS. 118,755 180,967
    DOW CHEMICAL CO 4700 SHS 207,998 233,637
    DUNKIN BRANDS GROUP INC 3500.00 SHS. 163,875 152,670
    EMC CORPORATION, 7550.00 SHS. 98,863 205,134
    EBAY INC., 5150.00 SHS. 107,649 120,562
    HOME DEPOT, INC. (THE), 3900.00 SHS. 76,131 497,991
    JONES LANG LASALLE INC COM, 1450.00 SHS. 142,247 141,303
    JP MORGAN CHASE & CO, 3800 SHS. 185,003 236,132
    LOWES COS INC COM 2950.00 SHS. 93,194 233,552
    MICROCHIP TECHNOLOGY INC, 2600.00 SHS 105,216 131,976
    MONDELEZ INTERNATIONAL, 5750 SHS. 184,177 261,683
    NORFOLK SOUTHERN CORPORATION, 1850.00 SHS. 122,688 157,491
    PAYPAL HOLDINGS, INC 5300 SHS 175,079 193,503
    PEPSICO, INC., 2350.00 SHS. 132,696 248,959
    PHILLIPS 66 2800 SHS. 230,147 222,152
    PIONEER NATURAL RESOURCES CO 1150 SHS 127,774 173,892
    QUALCOMM INCORPORATED, 3400.00 SHS. 129,389 182,138
    REGAL ENTERTAINMENT GROUP, 9300.00 SHS. 183,967 204,972
    SCHLUMBERGER LIMITED, 2050.00 SHS. 39,252 162,114
    STANLEY BLACK AND DECKER, INC., 1450.00 SHS. 91,061 161,269
    TJX COS INC NEW 2550.00 SHS 157,202 196,937
    UNITED PARCEL SVC CL B 1800 SHS 177,537 193,896
    UNITED TECHNOLOGIES CORPORATION, 1850.00 SHS. 141,457 189,718
    VANGUARD INDEX FDS 500 ADMIRAL, 36657.851 SHS 5,704,590 7,099,159
    VERIZON COMMUNICATIONS INC., 3600.00 SHS. 119,667 201,024
    VIACOM INC NEW CL B 147,804 140,998
    VISA INC CLA A SHS, 3150 SHS. 168,539 233,636
    WASTE MANAGEMENT INC., 3050.00 SHS. 100,947 202,124
    WYNDHAM WORLDWIDE CORP, 2300 SHS 183,652 163,829
    TWITTER INC, SHS 1225.00 15,141 20,715
    HAGGERTY - HCP/HBAS, 500,000 60,363 60,363
    DREYFUS TOTAL EMERGING MARKETS CL I, 366514.3 SHS. 4,198,454 3,951,024
    TEMPLETON INSTL. FOREIGN EQUITY FUND, 125630.658 SHS. 2,736,310 2,238,738
    VANGUARD ADMIRAL EUROPEAN STOCK INDEX FUND, 18662.76 SHS. 1,315,039 1,085,986
    VANGUARD DEV MKT INDEX - ADM (VTMGX) 197550.976 SHS. 2,198,500 2,240,228
    MFO - D&D SMID CAP VALUE FUND, 2864277.943753 SHS 2,874,657 2,990,071
    MFO - WESTFIELD FUND B, 79526.9454693 SHS. 1,662,916 2,688,752
    MFO - TOWLE FUND, 523262.1193161 SHS. 2,082,644 3,083,058
    TACONIC CRE DISLOCATION FUND, LP 75,000 74,105
    VANGUARD ADMIRAL REIT INDEX FUND, 18488.319 SHS. 1,722,949 2,323,612

    TY 2015 InvestmentsLandSchedule2
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING 101,010 52,709 48,301  

    TY 2015 InvestmentsOtherSchedule2
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    GLASS ART COLLECTION FMV 2,166,070 2,166,070
    DRAPER FISHER JURVETSON GROWTH FUND LP FMV 686,420 1,227,024
    DRAPER FISHER JURVETSON GROWTH 2013 FUND LP FMV 568,866 674,168
    CROSSLINK VI VENTURE FUND FMV 161,250 349,717
    ARBORETUM VENTURES III FMV 240,537 294,359
    ARBORETUM VENTURES IV FMV 494,689 470,732
    ARCHIPELAGO HLDGS LTD-OFFSHORE FMV 1,500,000 2,032,391
    CATALYST HEDGED FUTURES STRATEGY FUND CL I FMV 200,000 202,824
    ELLIOTT INTERNATIONAL LIMITED FMV 1,500,000 1,530,588
    GOLDMAN SACHS MLP ENERGY INFASTRUCTURE FUND FMV 927,726 1,109,957
    OTTER CREEK LONG/SHORT OPPORTUNITY FUND FMV 1,600,000 1,600,000
    PERSHING SQUARE HOLDINGS LTD FMV 1,342,374 871,304
    WEXFORD OFFSHORE SPECTRUM C-0000-E FMV 1,300,000 1,736,390
    WILLIAMS COMPANIES DEL FMV 260,557 192,507
    YORK CREDIT OPPTN - A/8 SERIES FMV 1,000,000 1,147,595
    TACONIC OFFSHORE 1.5 LTD CL A-NR SER 1 FMV 730,693 898,371
    APOLLO NATURAL RESOURCE PARTNERS LP FMV 13,197 32,453
    ANRP (AIV II) LP FMV 4,794 1,916
    ANRP (EPE AIV) LP FMV 57,237 10,686
    ANRP APEX ENERGY/ANRP DOUBLE EAGLE ENERGY HOLDING/ANRP DE HOLDINGS AIV, LP FMV 19,254 70,092
    ANRP CAELUS FMV 14,262 11,675
    ANRP DEBT HOLDINGS AIV, LP FMV 11,223 9,969
    ANRP EXPRESS FMV 9,087 10,581
    ANRP INTERNATIONAL HOLDINGS LP FMV 274,006 200,211
    ANRP JUPITER RESOURCES FMV 5,400 5,400
    ANRP TALOS ENERGY FMV 2,465 2,465

    TY 2015 LandEtcSchedule2
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    SAMSUNG AIO COMPUTER 922 888 34 34


    TY 2015 LegalFeesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL SERVICES 5,509 0   5,509


    TY 2015 OtherAssetsSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INLANDER ART COLLECTION 1,241,129 1,241,129 1,644,800


    TY 2015 OtherExpensesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEE 20 0   20
    PAYROLL PROCESSING 2,039 38   2,001
    ADR/CUSTODY FEES 713 713   0
    FINE ART EXPENSES 6,722 3,872   2,850
    FINE ART INSURANCE (GLASS COLLECTION) 6,850 6,850   0
    MEALS 27,577 1,379   26,198
    BANK FEES 703 0   703
    DFJ GROWTH 2013, LP - SCHEDULE K-1 14,742 14,742   0
    DRAPER FISHER JURVETSON GROWTH FUND - SCHEDULE K-1 32,041 32,041   0
    HAGGERTY CORRIDOR PARTNERS, LLC - SCHEDULE K-1 NONDEDUCTIBLE EXPENSES 43 43   0
    FROM MFO WESTFIELD FUND B JOINT VENTURE STMT 18,402 18,402   0
    FROM MFO D&D SMID CAP VALUE FUND JOINT VENTURE STMT 12,542 12,542   0
    FROM MFO TOWLE FUND JOINT VENTURE STMT 22,299 22,299   0
    CROSSLINK VENTURES VI, L.P. - SCHEDULE K-1 4,747 4,747   0
    MISCELLANEOUS 840 0   840
    WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 4,992 4,992   0
    ARBORETUM VENTURES III - SCHEDULE K-1 7,585 7,585   0
    ARBORETUM VENTURES IV - SCHEDULE K-1 5,407 5,407   0
    APOLLO NATURAL RESOURCES PARTNERS - SCHEDULE K-1 7,100 7,100   0
    FROM ANRP (AIV II) LP - SCHEDULE K-1 100 100   0
    FROM SCH K-1: ANRP (EPE AIV) LP - CHARITABLE CONTRIBUTIONS 13 13   0
    FROM ANRP (EPE AIV) LP SCHEDULE K-1 33,552 33,552   0
    FROM ANRP DE HOLDINGS LP SCHEDULE K-1 10,977 10,977   0


    TY 2015 OtherIncreasesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description Amount
    DEFERRED EXCISE TAX EXPENSE PER AUDIT 95,800


    TY 2015 OtherLiabilitiesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Description Beginning of Year - Book Value End of Year - Book Value
    ARBORETUM VENTURES III-CAPITAL COMMITMENT 49,800 23,400
    ARBORETUM VENTURES IV-CAPITAL COMMITMENT 464,000 428,500
    APOLLO NATURAL RESOURCE - CAPITAL COMMIT 195,033 138,618
    ELLIOTT INTL LTD CAPITAL COMMITMENT 918,000 362,000
    CROSSLINK VI VENTURE FUND - CAPITAL COMM. 32,520 22,520
    DFJ GROWTH 2013 FUND - CAPITAL COMMITMENT 251,400 138,000


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL SERVICES 17,600 0   17,600


    TY 2015 TaxesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN:
    38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES WITHHELD AND FEDERAL EXCISE OVERPAYMENT 5,190 17,359   0
    PAYROLL TAXES 6,120 129   5,991
    FROM MFO TOWLE FUND JOINT VENTURE STMT 78 78   0