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.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
OTTO & FRAN WALTER FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)THE BRICK HOUSE 7 OAK STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BOOTHBAY HARBOR, ME04538
A Employer identification number

13-1625529
B Telephone number (see instructions)

(207) 633-7300
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... 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$13,515,705J 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.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 392,555 392,555  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,817,360
b Gross sales price for all assets on line 6a 23,190,330
7 Capital gain net income (from Part IV, line 2)... 2,817,360
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........ 3,209,915 3,209,915  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 130,500 32,625   97,875
14 Other employee salaries and wages...... 27,825 6,956   20,869
15 Pension plans, employee benefits....... 25,125 6,281   17,241
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 19,125 7,213   12,200
c Other professional fees (attach schedule).... Click to see attachment 11,261 5,631   46,934
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 75,229 3,248   9,743
19 Depreciation (attach schedule) and depletion... Click to see attachment 3,022 0  
20 Occupancy.............. 15,098 3,775   11,323
21 Travel, conferences, and meetings....... 23,553 5,888   17,665
22 Printing and publications.......... 170 43   120
23 Other expenses (attach schedule)....... Click to see attachment 21,901 5,476   16,424
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 352,809 77,136   250,394
25 Contributions, gifts, grants paid....... 766,100 691,100
26 Total expenses and disbursements. Add lines 24 and 25 1,118,909 77,136   941,494
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,091,006
b Net investment income (if negative, enter -0-) 3,132,779
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
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............. 54,670 172,492 172,492
2 Savings and temporary cash investments......... 616,208 3,463,818 3,462,233
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.......... 10,193 8,457 8,457
10a Investments—U.S. and state government obligations (attach schedule) 1,528,666 0 0
b Investments—corporate stock (attach schedule)....... 7,279,887 Click to see attachment10,725,976 9,837,428
c Investments—corporate bonds (attach schedule)....... 2,723,690 0 0
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 bullet38,080
Less: accumulated depreciation (attach schedule) bullet26,624 14,479 Click to see attachment11,456 11,456
15 Other assets (describe bullet) Click to see attachment43,668 Click to see attachment23,639 Click to see attachment23,639
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 12,271,461 14,405,838 13,515,705
Liabilities 17 Accounts payable and accrued expenses.......... 93,421 61,792
18 Grants payable................. 1,124,500 615,000
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 attachment10,468 Click to see attachment10,468
23 Total liabilities (add lines 17 through 22)......... 1,228,389 687,260
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 11,043,072 13,718,578
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 11,043,072 13,718,578
31 Total liabilities and net assets/fund balances (see instructions). 12,271,461 14,405,838
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
11,043,072
2
Enter amount from Part I, line 27a .....................
2
2,091,006
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
584,500
4
Add lines 1, 2, and 3 ..........................
4
13,718,578
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
13,718,578
Form 990-PF (2018)
Form 990-PF (2018)
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 6229 AT&T P 2012-05-02 2018-08-13
b 1668 ABBVIE INC P 2017-10-17 2018-08-13
c 409 ADOBE SYSTEMS INC P 2018-07-25 2018-08-13
d 715 AIR PROD & CHEMICALS P 2018-02-02 2018-08-13
e 876 ALASKA AIR GROUP INC P 2018-06-07 2018-08-13
450 ALEXANDRIA REAL EST P 2018-07-23 2018-08-13
625 ALLERGAN PLC F P 2017-06-15 2018-08-13
175 ALPHABET INC CLASS A P 2013-10-25 2018-08-13
125 ALPHABET INC CLASS C P 2014-04-03 2018-08-13
227 AMAZON COM INC P 2016-05-19 2018-08-13
1775 AMEREN CORP P 2018-06-29 2018-08-13
1113 AMERICAN EXPRESS CO P 2016-06-09 2018-08-13
880 AMERICAN TOWER CORP REIT P 2017-12-11 2018-08-13
1243 ANALOG DEVICES INC P 2018-05-04 2018-07-13
2753 APPLE INC P 2009-10-29 2018-08-13
2068 APPLIED MATERIALS P 2017-09-08 2018-06-22
7376 BANK OF AMERICA P 2014-02-26 2018-08-13
312 BIOGEN IDEC INC P 2011-08-24 2018-08-13
2073 BORG WARNER INC P 2017-07-28 2018-08-13
591 BROADCOM LTD F P 2017-06-08 2018-08-13
926 CATERPILLAR INC P 2018-05-04 2018-08-13
1634 CBS CORP CLASS B P 2016-01-14 2018-04-09
688 CELGENE CORP P 2017-02-15 2018-02-13
994 CHEVRON CORPORATION P 2016-03-22 2018-08-13
826 CHUBB LTD F P 2016-03-14 2018-08-13
4391 CISCO SYSTEMS INC P 2018-05-04 2018-08-13
1601 COGNIZANT TECH SOLU CLASS A P 2017-09-15 2018-08-13
4056 COMCAST CORP NEW CL A P 2012-06-15 2018-08-13
2397 CONOCOPHILIPS P   2018-04-05
458 COSTCO WHOLESALE CO P 2018-01-22 2018-08-13
596 CUMMINS INC P 2017-09-06 2018-08-13
1563 CVS HEALTH CORP P 2018-07-10 2018-08-13
1201 DANAHER CORP P 2016-08-10 2018-04-24
766 DEERE & CO P 2018-02-08 2018-08-13
2064 DELTA AIR LINES INC P 2015-12-17 2018-08-13
2065 DEVON ENERGY CORP P 2018-01-31 2018-05-24
1618 DISCOVER FINANCIAL S P 2017-11-20 2018-08-13
2181 DOW DUPOINT INC P 2016-02-05 2018-08-13
2260 E-TRADE FINANCIAL CO P 2017-06-16 2018-08-13
2779 EBAY P 2018-04-16 2018-07-19
900 ELECTRONIC ARTS INC P 2016-12-15 2018-08-13
1759ELI LILLY & COMPANY P 2016-12-23 2018-08-13
1182 EOG RESOURCES P 2016-11-07 2018-08-13
450 ESTEE LAUDER CO INC P 2018-05-16 2018-08-13
884 EXXON MOBIL CORP P 2005-11-14 2018-08-13
1576 FACEBOOK INC CLASS A P 2016-11-10 2018-08-13
2257 FOOT LOCKER INC P 2017-12-26 2018-08-13
1714 GILEAD SCIENCES INC P 2013-12-09 2018-08-13
1290 HALLIBURTON P 2016-11-25 2018-06-28
1084 HERSHEY COMPANY P 2017-03-07 2018-04-17
1833 HIGHWOODS PPTY REIT P 2017-06-21 2018-08-13
616 HILL ROM HOLDINGS P 2017-02-28 2018-03-07
938 HOME DEPOT INC P 2011-09-16 2018-08-13
1030 HONEYWELL INTL INC P 2017-07-28 2018-08-13
6495 HUNTINGTON BANCSHS P 2016-12-12 2018-08-13
2972 INTEL CORPORATION P 2018-02-05 2018-08-13
1435 INTERCONTINENTAL EXC P 2017-11-07 2018-08-13
762 JOHNSON & JOHNSON P 2018-03-06 2018-08-13
2618 JP MORGAN CHASE & CO P   2018-08-13
3906 KROGER COMPANY P   2018-08-13
609 LAB CO OF AMERICA P 2018-02-13 2018-08-13
1955 MARATHON PETE CORP P 2017-07-12 2018-08-13
630 MCDONALDS CORP P 2016-02-12 2018-03-23
1768 MEDTRONIC PLC F P 2016-03-18 2018-08-13
4482 MICROSOFT CORP P 2004-11-09 2018-08-13
188 NETFLIX INC P 2018-04-27 2018-08-13
2942 NOBLE ENERGY INC P 2018-05-25 2018-08-13
509 NORTHROP GRUMMAN CO P 2015-10-09 2018-08-13
1756 OCCIDENTAL PETRO CO P 2018-04-03 2018-08-13
2360 ON SEMI CONDUCTOR CO P 2017-06-06 2018-01-26
3252 ORACLE CORPORATION P 2011-07-01 2018-07-25
1093 OWENS CORNING FIBERGLASS P 2018-06-15 2018-08-13
721 PARKER-HANNIFIN CORP P 2016-06-09 2018-06-15
1038 PEPSICO INCORPORATED P 2017-02-06 2018-01-22
3786 PFIZER INCORPORATED P 2011-06-09 2018-08-13
928 POST HOLDINGS INC P 2016-06-21 2018-05-07
2410 PROCTER & GAMBLE P 2016-03-04 2018-08-13
1822 PROLOGIZ INC REIT P 2016-11-25 2018-01-24
2702 PUB SVC ENT GROUP INC P 2013-09-05 2018-07-09
838 PVH CORP P 2016-10-21 2018-08-13
1331 QUALCOMM INC P 2015-12-10 2018-05-04
1222 RAYMOND JAMES FINL P 2017-05-17 2018-04-09
1101 STANLEY BLACK & DECK P 2016-10-03 2018-08-13
1551 STATE STREET CORP P 2016-07-27 2018-07-18
1734 SUNTRUST BANKS INC P 2015-11-16 2018-05-08
1178 SYNOPSYS INC P 2018-07-19 2018-08-13
945 T ROWE PRICE GROUP P 2018-07-18 2018-08-13
3021 TECHNIPFMC LTD F P 1970-10-02 2018-08-13
725 THERMO FISHER SNTFC P 2016-12-12 2018-08-13
1013 TIFFANY & CO P 2017-08-31 2018-08-13
819 TRAVELERS COMPANIES P 2018-04-11 2018-08-13
1601 TYSON FOODS INC CLASS A P 2016-05-19 2018-08-13
1113 UNITED HEALTHCARE GRP INC P 2016-09-21 2018-08-13
3164 VERIZON COMMUNICATIONS P 2018-01-22 2018-08-13
3240 VIACOM INC CLASS B P 2018-04-10 2018-08-13
1947 VISA INC CLASS A P 2017-02-10 2018-08-13
1599 WALT DISNEY CO P 2018-01-26 2018-08-13
1179 WASTE MANAGEMENT P 2015-05-21 2018-08-13
522 WESTLAKE CHEMICALS CO P 2017-12-06 2018-05-08
1322 WESTROCK CO P 2016-12-21 2018-02-01
2222 SCEL ENERGY INC P 2017-01-10 2018-03-15
6726 VANGUARD INST INDX FD P 2018-08-14 2018-11-06
132283 VANGUARD LT BOND IDX FD P 2018-08-14 2018-11-06
825 VANGUARD INST INDX FD P 2018-08-14 2018-12-13
150M US T INFL IDX 1.625% DUE 1/15/18 P 2009-05-08 2018-01-15
150M US T INFL IDX 2.125% DUE 1/15/19 P 2009-08-07 2018-08-10
150M US T INFL IDX 1.375% DUE 1/15/19 P 2011-06-16 2018-06-09
125M US T NOTE 1.25% DUE 11/30/18 P 2015-07-10 2018-03-21
125M US T NOTE 0.625% DUE 1/15/24 P 2018-06-04 2018-08-10
150M US T NOTE 0.375 DUE 7/15/23 P 2018-06-19 2018-08-10
150M FNMA 0.875% DUE 3/28/18 P 2016-12-15 2018-03-28
100M TENN VALLEY AUTHORITY 3.875% DUE 2/15/21 P 2011-12-08 2018-08-10
150M FEDERAL HOME LN 1.375% DUE 8/15/19 P 2018-03-29 2018-08-10
50M FNMA 1.875% DUE 2/19/19 P 2018-06-15 2018-08-10
100M CALIFORNIA ST 6.2% DUE 10/1/19 P 2017-01-09 2018-08-13
75M CALIFORNIA ST 7.7% DUE 11/1/30 P 2017-09-18 2018-08-13
150M CORPUS CHRSTI T GO UTX 6.124% DUE 08/15/32 P 2017-08-08 2018-08-13
115M NYC NY TRAN AUT 5.808% DUE 8/1/30 P 2017-08-25 2018-08-13
100M DALLAS TX ISD GO UTX 6.45% DUE 021535 P 2017-12-07 2018-08-13
105M MET TRAN AUTH N 7.134% DUE 11/15/30 P 2018-02-06 2018-08-13
125M DALLAS CN TX HS 6.171% DUE 8/15/34 P 2018-02-07 2018-08-13
100M DISTRICT COLUMBIA 5.92% DUE 6/1/23 P 2018-03-22 2018-08-13
150M ORACLE 5.0% DUE 070819 P 2009-09-28 2018-03-19
150M JP MORGAN CHASE 6.0% DUE 01/15/18 P 2010-06-18 2018-01-15
150M MCDONALDS CORP 3.5% DUE 07/15/20 P 2011-06-16 2018-06-18
100M LOWES COMP 3.75% DUE 4/15/21 P 2011-08-16 2018-06-20
150M BERKSHIRE HATHAWAY 3.75% DUE 08/15/21 P 2012-07-25 2018-08-13
150M THE HOME DEPOT 3.75% DUE 2/15/24 P 2013-11-29 2018-08-13
150M UNITED TECH CORP 3.1% DUE 6/1/22 P 2014-06-06 2018-08-13
150M APPLE INC 2.1% DUE 5/6/19 P 2015-03-20 2018-08-13
125M STATE STREET CORP 3.7% DUE 11/20/23 P 2015-02-12 2018-08-13
125M EMERSON ELECTRIC 4.875% DUE 1/15/19 P 2015-06-15 2018-03-19
135M OCCIDENTAL PETROL 3.5% DUE 6/15/25 P 2016-06-27 2018-08-13
150M GOLDMAN SACHS GR 6.15% DUE 4/1/18 P 2016-09-27 2018-04-01
150M TARGET COPORATION 3.5% DUE 7/1/24 P 2016-09-28 2018-08-13
150M BLACKROCK INC 3.5% DUE 3/18/24 P 2016-09-28 2018-08-13
125M WAL-MART STORES 4.125% DUE 2/1/19 P 2016-09-27 2018-08-13
130M WELLS FARGO BK VAR 20 DUE 12/7/20 P 2016-09-12 2018-08-13
125M GE CO 6.0% DUE 8/7/19 P 2017-02-21 2018-08-13
150M BRISTOL-MYERS SQ 3.25% DUE 11/1/23 P 2017-09-18 2018-08-13
150M COCA COLA COMP 3.2% DUE 11/1/23 P 2016-12-19 2018-08-13
150M CISCO SYSTEMS 3.625% DUE 3/4/24 P 2018-03-16 2018-08-13
150M HSBC HLDGS PLC 5.1% DUE 4/5/21 P 2018-03-19 2018-08-13
150M TOTAL CAPITAL 4.25% DUE 12/15/21 P 2018-02-09 2018-08-13
150M GOLDMAN SACHS 5.75% DUE 1/24/22 P 2018-04-10 2018-08-13
FNMA #725168 PRINCIPAL P    
FNMA #255109 PRINCIPAL P    
FHLMC #CO-1811 PRINCIPAL P    
FHLMC PL#A25752 PRINCIPAL P    
FNMA #555591 PRINCIPAL P    
FHLMC #G1-1594 PRINCIPAL P    
FNMA PL 254721 PRINCIPAL P    
FHLMC G1-2709 PRINCIPAL P    
FNMA 255814 PRINCIPAL P    
FHLMC #G0-8005 PRINCIPAL P    
FNMA PL #886223 PRINCIPAL P    
FNMA PL #936935 PRINCIPAL P    
FHLMC A6-6003 PRINCIPAL P    
FHLMC G1-8245 PRINCIPAL P    
FNMA PL #889452 PRINCIPAL P    
FNMA PL #983077 PRINCIPAL P    
FHLMC E0-2703 PRINCIPAL P    
FNMA #725168 DUE 2/1/19 P 2004-09-13 2018-08-15
FNMA #255109 DUE 3/1/19 P 2004-07-21 2018-08-15
FHLMC CO-1811 DUE 4/1/34 P 2004-08-25 2018-08-15
FHLMC PL#A25752 DUE 8/1/34 P 2004-12-29 2018-08-15
FNMA #555591 DUE 7/1/33 P 2004-12-29 2018-08-15
FHLMC #G1-1594 DUE 8/1/19 P 2005-03-28 2018-08-15
FHLMC G1-2709 DUE 7/1/22 P 2008-03-18 2018-08-15
FNMA 255814 DUE 8/1/35 P 2005-11-14 2018-08-15
FHLMC #G0-8005 DUE 8/1/34 P 2006-02-21 2018-08-15
FNMA PL #886223 DUE 8/1/36 P 2006-07-24 2018-08-15
FNMA PL #936935 DUE 5/1/37 P 2007-09-10 2018-08-15
FHLMC A6-6003 DUE 8/1/37 P 2007-04-10 2018-08-15
FHLMC G1-8245 DUE 3/1/23 P 2008-09-16 2018-08-15
FNMA PL #889452 DUE 5/1/38 P 2008-09-24 2018-08-15
FNMA PL #983077 DUE 5/1/38 P 2008-12-11 2018-08-15
FHLMC E0-2703 DUE 7/1/25 P 2011-02-23 2018-08-15
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 201,712   215,325 -13,613
b 161,484   152,172 9,312
c 104,112   105,727 -1,615
d 115,430   119,921 -4,491
e 55,892   53,617 2,275
56,919   56,749 170
115,059   127,370 -12,311
221,129   90,489 130,640
147,343   64,842 82,501
430,657   189,550 241,107
111,364   106,327 5,037
114,633   76,156 38,477
129,580   125,317 4,263
122,093   110,071 12,022
537,045   181,550 355,495
100,459   103,649 -3,190
233,074   136,810 96,264
109,215   73,417 35,798
93,077   95,421 -2,344
127,764   146,803 -19,039
128,680   133,178 -4,498
86,519   76,259 10,260
64,361   79,750 -15,389
124,869   102,560 22,309
113,281   98,661 14,620
192,512   194,683 -2,171
126,343   116,820 9,523
143,623   87,617 56,006
141,515   113,876 27,639
99,696   87,682 12,014
84,418   94,922 -10,504
107,139   102,025 5,114
121,402   97,860 23,542
106,326   119,964 -13,638
113,375   96,061 17,314
86,173   85,656 517
121,821   105,233 16,588
150,859   103,828 47,031
140,417   88,789 51,628
104,992   112,152 -7,160
115,351   83,283 32,068
179,569   130,939 48,630
143,420   115,507 27,913
59,467   63,251 -3,784
71,314   66,393 4,921
287,486   218,213 69,273
107,818   105,034 2,784
133,525   149,486 -15,961
58,037   67,957 -9,920
105,720   117,861 -12,141
91,761   92,426 -665
51,041   41,404 9,637
184,241   65,903 118,338
156,242   143,885 12,357
103,660   90,195 13,465
147,940   152,029 -4,089
105,072   95,685 9,387
99,701   97,823 1,878
304,356   127,101 177,255
117,146   104,353 12,793
109,729   101,738 7,991
158,590   124,404 34,186
100,335   73,708 26,627
161,283   140,068 21,215
492,493   159,026 333,467
65,680   56,840 8,840
90,410   106,874 -16,464
151,637   86,684 64,953
136,566   114,334 22,232
58,177   37,176 21,001
155,917   127,095 28,822
65,905   71,658 -5,753
126,332   84,111 42,221
123,128   85,812 37,316
155,037   96,220 58,817
71,440   72,647 -1,207
196,487   208,398 -11,911
113,655   89,231 24,424
144,253   112,818 31,435
124,843   87,964 36,879
67,852   72,236 -4,384
108,237   89,911 18,326
155,646   139,540 16,106
147,741   96,911 50,830
115,811   85,132 30,679
109,916   108,748 1,168
112,410   114,293 -1,883
93,407   83,930 9,477
169,593   102,661 66,932
138,097   90,386 47,711
106,038   112,374 -6,336
95,836   106,001 -10,165
286,185   157,251 128,934
167,694   160,804 6,890
95,065   100,078 -5,013
273,170   177,581 95,589
182,038   170,976 11,062
106,100   58,883 47,217
55,605   51,418 4,187
90,151   71,963 18,188
95,833   90,679 5,154
1,679,954   1,744,891 -64,937
1,679,954   1,774,889 -94,935
199,954   213,745 -13,791
176,613   149,998 26,615
176,131   150,440 25,691
175,390   154,043 21,347
124,261   125,177 -916
133,543   133,556 -13
159,533   159,357 176
150,000   149,913 87
102,435   104,436 -2,001
148,322   148,287 35
49,865   49,901 -36
103,786   107,472 -3,686
82,160   87,663 -5,503
158,909   167,152 -8,243
120,646   126,862 -6,216
107,690   112,652 -4,962
113,863   117,520 -3,657
128,871   132,004 -3,133
111,015   113,961 -2,946
154,595   151,699 2,896
150,000   150,303 -303
151,547   150,665 882
101,710   101,671 39
153,683   157,012 -3,329
153,638   151,340 2,298
148,205   151,140 -2,935
149,615   150,884 -1,269
126,463   131,481 -5,018
129,149   130,895 -1,746
173,645   180,330 -6,685
150,000   151,764 -1,764
151,472   160,544 -9,072
150,925   162,255 -11,330
125,723   129,118 -3,395
131,688   132,249 -561
128,825   133,647 -4,822
149,816   156,821 -7,005
149,888   154,688 -4,800
152,752   153,531 -779
156,380   158,299 -1,919
154,847   156,874 -2,027
160,430   162,831 -2,401
1,168   1,168 0
896   896 0
1,151   1,151 0
302   302 0
759   759 0
671   671 0
384   384 0
672   672 0
587   587 0
864   864 0
250   250 0
831   831 0
851   851 0
668   668 0
563   563 0
947   947 0
2,329   2,329 0
297   339 -42
308   351 -43
9,379   8,986 393
2,272   2,194 78
5,480   5,211 269
320   363 -43
2,001   2,045 -44
4,518   4,313 205
5,656   5,446 210
2,696   2,559 137
14,775   13,747 1,028
10,605   10,118 487
2,114   2,168 -54
3,163   3,027 136
7,120   6,827 293
11,323   11,274 49
12,968     12,968
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       -13,613
b       9,312
c       -1,615
d       -4,491
e       2,275
      170
      -12,311
      130,640
      82,501
      241,107
      5,037
      38,477
      4,263
      12,022
      355,495
      -3,190
      96,264
      35,798
      -2,344
      -19,039
      -4,498
      10,260
      -15,389
      22,309
      14,620
      -2,171
      9,523
      56,006
      27,639
      12,014
      -10,504
      5,114
      23,542
      -13,638
      17,314
      517
      16,588
      47,031
      51,628
      -7,160
      32,068
      48,630
      27,913
      -3,784
      4,921
      69,273
      2,784
      -15,961
      -9,920
      -12,141
      -665
      9,637
      118,338
      12,357
      13,465
      -4,089
      9,387
      1,878
      177,255
      12,793
      7,991
      34,186
      26,627
      21,215
      333,467
      8,840
      -16,464
      64,953
      22,232
      21,001
      28,822
      -5,753
      42,221
      37,316
      58,817
      -1,207
      -11,911
      24,424
      31,435
      36,879
      -4,384
      18,326
      16,106
      50,830
      30,679
      1,168
      -1,883
      9,477
      66,932
      47,711
      -6,336
      -10,165
      128,934
      6,890
      -5,013
      95,589
      11,062
      47,217
      4,187
      18,188
      5,154
      -64,937
      -94,935
      -13,791
      26,615
      25,691
      21,347
      -916
      -13
      176
      87
      -2,001
      35
      -36
      -3,686
      -5,503
      -8,243
      -6,216
      -4,962
      -3,657
      -3,133
      -2,946
      2,896
      -303
      882
      39
      -3,329
      2,298
      -2,935
      -1,269
      -5,018
      -1,746
      -6,685
      -1,764
      -9,072
      -11,330
      -3,395
      -561
      -4,822
      -7,005
      -4,800
      -779
      -1,919
      -2,027
      -2,401
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      -42
      -43
      393
      78
      269
      -43
      -44
      205
      210
      137
      1,028
      487
      -54
      136
      293
      49
      12,968
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 2,817,360
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))
2017 941,397 13,861,699 0.067914
2016 953,272 13,264,409 0.071867
2015 968,533 14,242,972 0.068001
2014 894,636 14,593,611 0.061303
2013 931,242 13,644,754 0.068249
2
Total of line 1, column (d) .....................
2
0.337334
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.067467
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
14,203,412
5
Multiply line 4 by line 3......................
5
958,262
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
31,328
7
Add lines 5 and 6........................
7
989,590
8
Enter qualifying distributions from Part XII, line 4,.............
8
941,494
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 (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 62,656
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 62,656
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 62,656
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 10,818
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 51,838
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 62,656
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 0
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 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)
    bulletNY, ME
    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 2018 or the taxable year beginning in 2018? See the 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 (2018)
    Form 990-PF (2018)
    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.WALTERFOUNDATION.ORG
    14
    The books are in care ofbulletNEIL SUMNER CPA Telephone no.bullet (212) 938-1930

    Located atbullet115 WEST 29TH ST SUITE 603NEW YORKNY ZIP+4bullet100015060
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, 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 the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    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 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    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 2018 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 2018.)..................
    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 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    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:
    Yes
    No
    (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
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    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
    FRANK G HELMAN PRESIDENT
    30.00     		66,000 0 0
    88 APPALACHEE ROAD
    BOOTHBAY HARBOR,ME04538
    MARTHA H PEAK VICE-PRESIDENT
    30.00     		49,500 0 0
    88 APPALACHEE ROAD
    BOOTHBAY HARBOR,ME04538
    CARL R GRIFFIN III SECRETARY
    10.00     		15,000 0 0
    59 ATLANTIC AVE
    BOOTHBAY HARBOR,ME04538
    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
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    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  
    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 (2018)
    Form 990-PF (2018)
    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
    14,311,018
    b
    Average of monthly cash balances.......................
    1b
    72,690
    c
    Fair market value of all other assets (see instructions)................
    1c
    36,000
    d
    Total (add lines 1a, b, and c).........................
    1d
    14,419,708
    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
    14,419,708
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    216,296
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    14,203,412
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    710,171
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    710,171
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    62,656
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    62,656
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    647,515
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    647,515
    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
    647,515
    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
    941,494
    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
    941,494
    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
    941,494
    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 (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 647,515
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 279,059
    b From 2014...... 200,668
    c From 2015...... 271,476
    d From 2016...... 298,462
    e From 2017...... 268,626
    fTotal of lines 3a through e........ 1,318,291
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 941,494
    a Applied to 2017, 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 2018 distributable amount..... 647,515
    e Remaining amount distributed out of corpus 293,979
    5 Excess distributions carryover applied to 2018. 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 1,612,270
    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 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		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
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		279,059
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		1,333,211
    10 Analysis of line 9:
    a Excess from 2014.... 200,668
    b Excess from 2015.... 271,476
    c Excess from 2016.... 298,462
    d Excess from 2017.... 268,626
    e Excess from 2018.... 293,979
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 2018, 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) 2018 (b) 2017 (c) 2016 (d) 2015
             
    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 foundation 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:
    MARTHA H PEAK VP GRANTS DIRECTOR
    OTTO AND FRAN WALTER FDN 7 OAK
    STREET
    BOOTHBAY HARBOR,ME04538
    (207) 633-7300
    GRANTS@WALTERFOUNDATION.ORG
    bThe form in which applications should be submitted and information and materials they should include:
    E-MAIL TO REQUEST FOUNDATION'S GUIDELINES FOR GIVING BEFORE SUBMITTING GRANT REQUEST.
    cAny submission deadlines:
    APPLICATIONS CONTINUOUSLY ACCEPTED THROUGHOUT YEAR.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE FOUNDATION DOES NOT MAKE GRANTS TO INDIVIDUALS OR TO ANY PROGRAM OR ORGANIZATION THAT HAS A PURELY RELIGIOUS OR ETHNIC AGENDA OR THAT DISCRIMINATES BASED ON SEX OR SEXUAL ORIENTATION.
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    CONNECTICUT COLLEGE
    270 MOHEGAN AVE
    NEW LONDON,CT06320     		N/A PUBLIC CHARITY FUNDING TO ESTABLISH GLOBAL COMMONS--A FACILITY OF GLOBAL LEARNING. 300,000
    COOPERATIVE FOR EDUCATION
    2300 MONTANA AV SUITE 301
    CINCINNATI,OH45211     		N/A PUBLIC CHARITY TO PROVIDE TEXTBOOKS FOR HIGH SCHOOLS IN GUATEMALA 17,500
    EUROPEAN UNION STUDIES CENTER CUNY
    365 FIFTH AVENUE
    NEW YORK,NY10016     		N/A PUBLIC CHARITY TO FUND ANNUAL LECTURE, OUTREACH; EXCHANGE PROGRAMS AND CONFERENCESCONFERENCE 50,000
    METROPOLITAN OPERA ASSOCIATION
    30 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		N/A PUBLIC CHARITY TO SUPPORT THE HD LIVE IN SCHOOLS PROGRAM IN WY AND NC 50,000
    COOPERATIVE FOR EDUCATION
    2300 MONTANA AV SUITE 301
    CINCINNATI,OH45211     		N/A PUBLIC CHARITY TO FUND SCHOLARSHIPS FOR 60 HIGH SCHOOL GRADUATES IN GUATEMALA TO STUDY COMPUTERS AND ENGLISH 57,600
    THE ROTARY FOUNDATION
    1560 SHERMAN AVENUE
    EVANSTON,IL60201     		N/A PUBLIC CHARITY TO ENDOW A PEACE FELLOWSHIP. 135,000
    ROTARY CLUB OF KAJJANSI
    OFF ENTEBBE ROAD
    KAJJANSI,CENTRAL UGANDA  
    UG     		N/A PUBLIC CHARITY TO ESTABLISH SCHOOL PROGRAMS IN UGANDA 56,000
    FRIENDS OF THAI DAUGHTERS
    PO BOX 370
    TREVETT,ME04571     		N/A PUBLIC CHARITY TO FUND COLLEGE SCHOLARSHIP FOR 10 GIRLS IN THAILAND 25,000
    Total .................................bullet 3a 691,100
    bApproved for future payment
    FRIENDS OF THAI DAUGHTERS
    PO BOX 370
    TREVETT,ME04571     		N/A PUBLIC CHARITY TO FUND COLLEGE SCHOLARSHIP FOR 10 GIRLS IN THAILAND 25,000
    METROPOLITAN OPERA ASSOCIATION
    30 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		N/A PUBLIC CHARITY TO SUPPORT THE HD LIVE IN SCHOOLS PROGRAM IN WY AND NC 50,000
    Total .................................bullet 3b 75,000
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 ...........     		         
    4 Dividends and interest from securities....     14 392,555  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 2,817,360  
    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 3,209,915 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,209,915
    (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 (2018)
    Form 990-PF (2018)
    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) (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) (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 (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 AccountingFeesSchedule
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    QUARTERLY ACCOUNTING 4,925 2,463   2,750
    PREPARATION OF FINANCIAL STMTS 5,000 2,500   2,500
    TAX REPORT SERVICES 4,500 2,250   2,250
    GRANT AUDIT MONITORING 4,700 0   4,700

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

    TY 2018 DepreciationSchedule
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    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
    FURNITURE 2004-09-01 3,177 3,177 SL 7.000000000000 0 0    
    FURNITURE 2005-03-03 1,122 1,122 SL 7.000000000000 0 0    
    FURNITURE & FIXTURES 2007-07-01 8,049 8,049 SL 7.000000000000 0 0    
    OFFICE EQUIPMENT 2007-07-01 1,091 1,091 SL 5.000000000000 0 0    
    DRIVEWAY 2008-11-17 9,300 5,632 SL 15.000000000000 620 0    
    FILING CABINET 2009-03-27 1,102 1,099 SL 7.000000000000 0 0    
    COMPUTERS 2012-09-25 760 760 SL 5.000000000000 0 0    
    FURNITURE & FIXTURES 2008-02-06 1,470 1,470 SL 7.000000000000 0 0    
    COMPUTERS & PERIPHERALS 2017-07-01 12,009 1,202 SL 5.000000000000 2,402 0    

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    Name of Stock End of Year Book Value End of Year Fair Market Value
    26392 VANGUARD INST IDX FD (VINIX) 6,840,383 6,005,418
    288590 VANGUARD LT BD IDX FD (VBLLX) 3,885,593 3,832,010

    TY 2018 LandEtcSchedule2
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    FURNITURE 3,177 3,177 0  
    FURNITURE 1,122 1,122 0  
    FURNITURE & FIXTURES 8,049 8,049 0  
    OFFICE EQUIPMENT 1,091 1,091 0  
    DRIVEWAY 9,300 6,252 3,048  
    FILING CABINET 1,102 1,099 3  
    COMPUTERS 760 760 0  
    FURNITURE & FIXTURES 1,470 1,470 0  
    COMPUTERS & PERIPHERALS 12,009 3,604 8,405  


    TY 2018 OtherAssetsSchedule
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SECURITY DEPOSIT - RENT 960 960 960
    ACCRUED INVESTMENT INCOME 39,708 21,004 21,004
    EMPLOYEE LOAN 3,000 1,675 1,675


    TY 2018 OtherExpensesSchedule
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TEL, COMPUTER & INTERNET 9,928 2,482   7,445
    INSURANCE 1,410 353   1,057
    OFFICE & POSTAGE 7,811 1,953   5,858
    DUES,FEES & PERMITS 2,752 688   2,064


    TY 2018 OtherIncreasesSchedule
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    Description Amount
    ACCRUED GRANTS PAID 583,500
    TO CORRECT GRANTS PAYABLE 1,000


    TY 2018 OtherLiabilitiesSchedule
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    Description Beginning of Year - Book Value End of Year - Book Value
    PROGRAM RELATED EXPENSES 10,468 10,468


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVICE 11,261 5,631   46,934


    TY 2018 TaxesSchedule
    Name:
    OTTO & FRAN WALTER FOUNDATION INC
    EIN:
    13-1625529
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE 62,238 0   0
    PAYROLL 12,991 3,248   9,743