Return of Private Foundation. , 2011, and ending, 20 Name of foundation M.E. & F.J. CALLAHAN FOUNDATION

Transcription

1 Return of Private Foundation OMB No or Section 4947(a)(1) Nonexept Charitale Trust Departent of the Treasury Treated as a Private Foundation nternal Revenue Service Note. The foundation ay e ale to use a copy of this return to satisfy state reporting requireents. À¾µµ For calendar year 2011 or tax year eginning, 2011, and ending, 20 Nae of foundation A Eployer identification nuer For 990-PF Nuer and street (or P.O. ox nuer if ail is not delivered to street address) Roo/suite B City or town, state, and ZP code Telephone nuer (see instructions) C f exeption application is pending, check here WARRENSVLLE HEGHTS, OH G Check all that apply: nitial return nitial return of a forer pulic charity D 1. Foreign organizations, check here Final return Aended return 2. Foreign organizations eeting the 85% test, check here and attach Address change Nae change coputation H Check type of organization: Section 501(c)(3) exept private foundation E f private foundation status was terinated Section 4947(a)(1) nonexept charitale trust Other taxale private foundation under section 507()(1)(A), check here Fair arket value of all assets at end J Accounting ethod: Cash Accrual F f the foundation is in a 60-onth terination of year (fro Part, col. (c), line Other (specify) under section 507()(1)(B), check here 16) $ 767,606. (Part, colun (d) ust e on cash asis.) Part Analysis of Revenue and Expenses (The (d) Disurseents total of aounts in coluns (), (c), and (d) (a) Revenue and () Net investent (c) Adjusted net for charitale ay not necessarily equal the aounts in expenses per incoe incoe purposes colun (a) (see instructions).) ooks (cash asis only) 1 Contriutions, gifts, grants, etc., received (attach schedule) if the foundation is not required to 2 Check attach Sch. B Revenue Operating and Adinistrative Expenses M.E. & F.J. CALLAHAN FOUNDATON RCHMOND ROAD, SUTE nterest on savings and teporary cash investents 4 Dividends and interest fro securities 5 a Gross rents Net rental incoe or (loss) 6 a Net gain or (loss) fro sale of assets not on line 10 Gross sales price for all 55,524. assets on line 6a 7 Capital gain net incoe (fro Part V, line 2) 8 Net short-ter capital gain 9 ncoe odifications 10 a Gross sales less returns and allowances Less: Cost of goods sold c Gross profit or (loss) (attach schedule) 11 Other incoe (attach schedule) 12 Total. Add lines 1 through Copensation of officers, directors, trustees, etc. 14 Other eployee salaries and wages 15 Pension plans, eployee enefits 16a Legal fees (attach schedule) ATCH 3 Accounting fees (attach schedule) ATCH 4 c Other professional fees (attach schedule) 17 nterest 18 Taxes (attach schedule) (see instructions) 19 Depreciation (attach schedule) and depletion 20 Occupancy 21 Travel, conferences, and eetings 22 Printing and pulications 23 Other expenses (attach schedule) 24 Total operating and adinistrative expenses. Add lines 13 through Contriutions, gifts, grants paid 26 Total expenses and disurseents. Add lines 24 and Sutract line 26 fro line 12: (216) ATCH 1 8,331. 8,331. ATCH 2 23, , , , ,824. 3,500. ** ,546. ATCH 6 9, , , , , , , , ,665. a Excess of revenue over expenses and disurseents Net investent incoe (if negative, enter -0-) 31,767. c Adjusted net incoe (if negative, enter -0-) For Paperwork Reduction Act Notice, see instructions. JSA ** ATCH 5 For 990-PF (2011) 1E N36G /18/ :48:06 AM V PAGE 2

2 For 990-PF (2011) Page 2 Assets Liailities Net Assets or Fund Balances Attached schedules and aounts in the Balance Sheets description colun should e for end-of-year aounts only. (See instructions.) 1 Cash - non-interest-earing 2 Savings and teporary cash investents 3 Accounts receivale Part Less: allowance for doutful accounts 4 Pledges receivale Less: allowance for doutful accounts 5 Grants receivale 6 Receivales due fro officers, directors, trustees, and other disqualified persons (attach schedule) (see instructions) 7 Other notes and loans receivale (attach schedule) Less: allowance for doutful accounts 8 nventories for sale or use 9 Prepaid expenses and deferred charges 10 a nvestents - U.S. and state governent oligations (attach schedule) nvestents - corporate stock (attach schedule) c nvestents - corporate onds (attach schedule) 11 nvestents - land, uildings, and equipent: asis Less: accuulated depreciation (attach schedule) 12 nvestents - ortgage loans 13 nvestents - other (attach schedule) ATCH 7 14 Land, uildings, and equipent: asis Less: accuulated depreciation (attach schedule) 15 Other assets (descrie ) 16 Total assets (to e copleted y all filers - see the instructions. Also, see page 1, ite ) 17 Accounts payale and accrued expenses 18 Grants payale 19 Deferred revenue 20 Loans fro officers, directors, trustees, and other disqualified persons 21 Mortgages and other notes payale (attach schedule) 22 Other liailities (descrie ) 23 Total liailities (add lines 17 through 22) Foundations that follow SFAS 117, check here and coplete lines 24 through 26 and lines 30 and Unrestricted 25 Teporarily restricted 26 Peranently restricted Foundations that do not follow SFAS 117, check here and coplete lines 27 through Capital stock, trust principal, or current funds 28 Paid-in or capital surplus, or land, ldg., and equipent fund 29 Retained earnings, accuulated incoe, endowent, or other funds 30 Total net assets or fund alances (see instructions) 31 Total liailities and net assets/fund alances (see instructions) Beginning of year End of year (a) Book Value () Book Value (c) Fair Market Value 909, ,083. Part Analysis of Changes in Net Assets or Fund Balances Total net assets or fund alances at eginning of year - Part, colun (a), line 30 (ust agree with end-of-year figure reported on prior year's return) 1 Enter aount fro Part, line 27a Other increases not included in line 2 (iteize) Add lines 1, 2, and 3 Decreases not included in line 2 (iteize) Total net assets or fund alances at end of year (line 4 inus line 5) - Part, colun (), line 30 1 M.E. & F.J. CALLAHAN FOUNDATON , , ,839. ATCH 659, , , , , , , , , , , , , ,083. For 990-PF (2011) JSA 1E N36G /18/ :48:06 AM V PAGE 3

3 For 990-PF (2011) Page 3 Part V 1a c d e a c d e Capital Gains and Losses for Tax on nvestent ncoe (e) Gross sales price (a) List and descrie the kind(s) of property sold (e.g., real estate, 2-story rick warehouse; or coon stock, 200 shs. MLC Co.) SEE PART V SCHEDULE (f) Depreciation allowed (or allowale) (g) Cost or other asis plus expense of sale Coplete only for assets showing gain in colun (h) and owned y the foundation on 12/31/69 (i) F.M.V. as of 12/31/69 M.E. & F.J. CALLAHAN FOUNDATON (j) Adjusted asis as of 12/31/69 (k) Excess of col. (i) over col. (j), if any () How acquired P-Purchase D-Donation a c d e 2 Capital gain net incoe or (net capital loss) f gain, also enter in Part, line 7 $ f (loss), enter -0- in Part, line 7 &2 3 Net short-ter capital gain or (loss) as defined in sections 1222(5) and (6): f gain, also enter in Part, line 8, colun (c) (see instructions). f (loss), enter -0- in & Part, line 8 3 Part V Qualification Under Section 4940(e) for Reduced Tax on Net nvestent ncoe (For optional use y doestic private foundations suject to the section 4940(a) tax on net investent incoe.) (c) Date acquired (o., day, yr.) (h) Gain or (loss) (e) plus (f) inus (g) (d) Date sold (o., day, yr.) (l) Gains (Col. (h) gain inus col. (k), ut not less than -0-) or Losses (fro col. (h)) 23, f section 4940(d)(2) applies, leave this part lank. Was the foundation liale for the section 4942 tax on the distriutale aount of any year in the ase period? f "Yes," the foundation does not qualify under section 4940(e). Do not coplete this part. 1 Enter the appropriate aount in each colun for each year; see the instructions efore aking any entries. (a) () (c) (d) Base period years Distriution ratio Calendar year (or tax year eginning in) Adjusted qualifying distriutions Net value of noncharitale-use assets (col. () divided y col. (c)) , , , , , , , , , , Total of line 1, colun (d) 2 3 Average distriution ratio for the 5-year ase period - divide the total on line 2 y 5, or y the nuer of years the foundation has een in existence if less than 5 years 3 4 Enter the net value of noncharitale-use assets for 2011 fro Part, line Multiply line 4 y line Enter 1% of net investent incoe (1% of Part, line 27) 6 7 Add lines 5 and Enter qualifying distriutions fro Part, line ,640. f line 8 is equal to or greater than line 7, check the ox in Part V, line 1, and coplete that part using a 1% tax rate. See the Part V instructions. JSA For 990-PF (2011) 1E Yes , , , N36G /18/ :48:06 AM V PAGE 4 No

4 For 990-PF (2011) Page 4 Part V Excise Tax Based on nvestent ncoe (Section 4940(a), 4940(), 4940(e), or see instructions) 1a Exept operating foundations descried in section 4940(d)(2), check here and enter "N/A" on line 1. 7 Date of ruling or deterination letter: (attach copy of letter if necessary - see instructions) Doestic foundations that eet the section 4940(e) requireents in Part V, check * here and enter 1% of Part, line 27 c All other doestic foundations enter 2% of line 27. Exept foreign organizations enter 4% of 9 Part, line 12, col. (). 2 Tax under section 511 (doestic section 4947(a)(1) trusts and taxale foundations only. Others enter -0-) 2 3 Add lines 1 and Sutitle A (incoe) tax (doestic section 4947(a)(1) trusts and taxale foundations only. Others enter -0-) 4 5 Tax ased on investent incoe. Sutract line 4 fro line 3. f zero or less, enter Credits/Payents: a 2011 estiated tax payents and 2010 overpayent credited to a Exept foreign organizations - tax withheld at source 6 c Tax paid with application for extension of tie to file (For 8868) 6c d Backup withholding erroneously withheld 6d 7 Total credits and payents. Add lines 6a through 6d 7 8 Enter any penalty for underpayent of estiated tax. Check here if For 2220 is attached 8 9 Tax due. f the total of lines 5 and 8 is ore than line 7, enter aount owed 9 10 Overpayent. f line 7 is ore than the total of lines 5 and 8, enter the aount overpaid Enter the aount of line 10 to e: Credited to 2012 estiated tax 11,957. Refunded 11 Part V-A Stateents Regarding Activities 1a During the tax year, did the foundation attept to influence any national, state, or local legislation or did it participate or intervene in any political capaign? 1a Did it spend ore than $100 during the year (either directly or indirectly) for political purposes (see page 19 of the instructions for definition)? 1 f the answer is "Yes" to 1a or 1, attach a detailed description of the activities and copies of any aterials pulished or distriuted y the foundation in connection with the activities. c Did the foundation file For 1120-POL for this year? 1c d Enter the aount (if any) of tax on political expenditures (section 4955) iposed during the year: (1) On the foundation. (2) $ On foundation anagers. $ e Enter the reiurseent (if any) paid y the foundation during the year for political expenditure tax iposed on foundation anagers. $ 2 Has the foundation engaged in any activities that have not previously een reported to the RS? 2 f "Yes," attach a detailed description of the activities. 3 Has the foundation ade any changes, not previously reported to the RS, in its governing instruent, articles of incorporation, or ylaws, or other siilar instruents? f "Yes," attach a confored copy of the changes 3 4a Did the foundation have unrelated usiness gross incoe of $1,000 or ore during the year? 4a f "Yes," has it filed a tax return on For 990-T for this year? 4 5 Was there a liquidation, terination, dissolution, or sustantial contraction during the year? 5 f "Yes," attach the stateent required y General nstruction T. 6 Are the requireents of section 508(e) (relating to sections 4941 through 4945) satisfied either: % By language in the governing instruent, or By state legislation that effectively aends the governing instruent so that no andatory directions that conflict with the state law reain in the governing instruent? 6 7 Did the foundation have at least $5,000 in assets at any tie during the year? f "Yes," coplete Part, col. (c), and Part V 7 8a Enter the states to which the foundation reports or with which it is registered (see instructions) OH, M.E. & F.J. CALLAHAN FOUNDATON f the answer is "Yes" to line 7, has the foundation furnished a copy of For 990-PF to the Attorney General (or designate) of each state as required y General nstruction G? f "No," attach explanation 9 s the foundation claiing status as a private operating foundation within the eaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2011 or the taxale year eginning in 2011 (see instructions for Part V)? f "Yes," coplete Part V 9 10 Did any persons ecoe sustantial contriutors during the tax year? f "Yes," attach a schedule listing their naes and addresses 10 12, Yes , ,957. No For 990-PF (2011) JSA 1E N36G /18/ :48:06 AM V PAGE 5

5 M.E. & F.J. CALLAHAN FOUNDATON Stateents Regarding Activities (continued) For 990-PF (2011) Page 5 Part V-A At any tie during the year, did the foundation, directly or indirectly, own a controlled entity within the eaning of section 512()(13)? f "Yes," attach schedule (see instructions) 11 Did the foundation ake a distriution to a donor advised fund over which the foundation or a disqualified person had advisory privileges? f "Yes," attach stateent (see instructions) Did the foundation coply with the pulic inspection requireents for its annual returns and exeption application? Wesite address The ooks are in care of Located at ZP Section 4947(a)(1) nonexept charitale trusts filing For 990-PF in lieu of For Check here and enter the aount of tax-exept interest received or accrued during the year At any tie during calendar year 2011, did the foundation have an interest in or a signature or other authority over a ank, securities, or other financial account in a foreign country? 16 See the instructions for exceptions and filing requireents for For TD F f "Yes," enter the nae of the foreign country Part V-B Stateents Regarding Activities for Which For 4720 May Be Required File For 4720 if any ite is checked in the "Yes" colun, unless an exception applies. 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? Yes No (2) Borrow oney fro, lend oney to, or otherwise extend credit to (or accept it fro) a f any answer is "Yes" to 1a(1)-(6), did any of the acts fail to qualify under the exceptions descried in Regulations section (d)-3 or in a current notice regarding disaster assistance (see instructions)? 1 Organizations relying on a current notice regarding disaster assistance check here c Did the foundation engage in a prior year in any of the acts descried in 1a, other than excepted acts, that were not corrected efore the first day of the tax year eginning in 2011? 1c 2 Taxes on failure to distriute incoe (section 4942) (does not apply for years the foundation was a private a At the end of tax year 2011, did the foundation have any undistriuted incoe (lines 6d and 6e, Part ) for tax year(s) eginning efore 2011? Yes No f "Yes," list the years,,, Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2) all years listed, answer "No" and attach stateent - see instructions.) c f the provisions of section 4942(a)(2) are eing applied to any of the years listed in 2a, list the years here.,,, 3a Did the foundation hold ore than a 2% direct or indirect interest in any usiness enterprise f "Yes," did it have excess usiness holdings in 2011 as a result of (1) any purchase y the foundation or 13 CALLAHANFOUNDATON.ORG TMOTHY J. CALLAHAN Telephone no. (216) RCHMOND ROAD, SUTE 400 WARRENSVLLE HTS., OH the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, For 4720, to deterine if the foundation had excess usiness holdings in 2011.) 3 4a Did the foundation invest during the year any aount in a anner that would jeopardize its charitale purposes? 4a Did the foundation ake any investent in a prior year (ut after Deceer 31, 1969) that could jeopardize its charitale purpose that had not een reoved fro jeopardy efore the first day of the tax year eginning in 2011? 4 For 990-PF (2011) disqualified person? Yes No (3) Furnish goods, services, or facilities to (or accept the fro) a disqualified person? Yes No (4) Pay copensation to, or pay or reiurse the expenses of, a disqualified person? Yes No (5) Transfer any incoe or assets to a disqualified person (or ake any of either availale for the enefit or use of a disqualified person)? Yes No (6) Agree to pay oney or property to a governent official? (Exception. Check "No" if the foundation agreed to ake a grant to or to eploy the official for a period after terination of governent service, if terinating within 90 days.) Yes No operating foundation defined in section 4942(j)(3) or 4942(j)(5)): (relating to incorrect valuation of assets) to the year's undistriuted incoe? (f applying section 4942(a)(2) to at any tie during the year? Yes No disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved y the Coissioner under section 4943(c)(7)) to dispose of holdings acquired y gift or equest; or (3) the lapse of Yes Yes No No JSA 1E N36G /18/ :48:06 AM V PAGE 6

6 For 990-PF (2011) M.E. & F.J. CALLAHAN FOUNDATON Page 6 Part V-B Stateents Regarding Activities for Which For 4720 May Be Required (continued) 5 a During the year did the foundation pay or incur any aount to: (1) Carry on propaganda, or otherwise attept to influence legislation (section 4945(e))? Yes No (2) nfluence the outcoe of any specific pulic election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? Yes No (3) Provide a grant to an individual for travel, study, or other siilar purposes? Yes No (4) Provide a grant to an organization other than a charitale, etc., organization descried in c 6 a section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see instructions) Yes No (5) Provide for any purpose other than religious, charitale, scientific, literary, or educational purposes, or for the prevention of cruelty to children or anials? Yes No f any answer is "Yes" to 5a(1)-(5), did any of the transactions fail to qualify under the exceptions descried in Regulations section or in a current notice regarding disaster assistance (see instructions)? Organizations relying on a current notice regarding disaster assistance check here f the answer is "Yes" to question 5a(4), does the foundation clai exeption fro the tax ecause it aintained expenditure responsiility for the grant? Yes No f "Yes," attach the stateent required y Regulations section (d). Did the foundation, during the year, receive any funds, directly or indirectly, to pay preius on a personal enefit contract? Yes No Did the foundation, during the year, pay preius, directly or indirectly, on a personal enefit contract? f "Yes" to 6, file For a At any tie during the tax year, was the foundation a party to a prohiited tax shelter transaction? Yes No f "Yes," did the foundation receive any proceeds or have any net incoe attriutale to the transaction? 7 Part V nforation Aout Officers, Directors, Trustees, Foundation Managers, Highly Paid Eployees, and Contractors 1 List all officers, directors, trustees, foundation anagers and their copensation (see instructions). () Title, and average (c) Copensation (d) Contriutions to (a) Nae and address (e) Expense account, hours per week (f not paid, enter eployee enefit plans devoted to position -0-) other allowances and deferred copensation ATTACHMENT Copensation of five highest-paid eployees (other than those included on line 1 - see instructions). f none, enter "NONE." (a) Nae and address of each eployee paid ore than $50,000 NONE () Title, and average hours per week devoted to position (c) Copensation (d) Contriutions to eployee enefit plans and deferred copensation (e) Expense account, other allowances Total nuer of other eployees paid over $50,000 For 990-PF (2011) JSA 1E N36G /18/ :48:06 AM V PAGE 7

7 For 990-PF (2011) Page 7 Part V M.E. & F.J. CALLAHAN FOUNDATON nforation Aout Officers, Directors, Trustees, Foundation Managers, Highly Paid Eployees, and Contractors (continued) 3 Five highest-paid independent contractors for professional services (see instructions). f none, enter "NONE." (a) Nae and address of each person paid ore than $50,000 () Type of service (c) Copensation NONE 0 Total nuer of others receiving over $50,000 for professional services Part -A Suary of Direct Charitale Activities List the foundation's four largest direct charitale activities during the tax year. nclude relevant statistical inforation such as the nuer of organizations and other eneficiaries served, conferences convened, research papers produced, etc. 1 NOT APPLCABLE Expenses Part -B Suary of Progra-Related nvestents (see instructions) Descrie the two largest progra-related investents ade y the foundation during the tax year on lines 1 and 2. 1 NOT APPLCABLE Aount 2 All other progra-related investents. See instructions. 3 NONE Total. Add lines 1 through 3 For 990-PF (2011) JSA 1E N36G /18/ :48:06 AM V PAGE 8

8 For 990-PF (2011) Page Part a c d e Miniu nvestent Return (All doestic foundations ust coplete this part. Foreign foundations, see instructions.) Fair arket value of assets not used (or held for use) directly in carrying out charitale, etc., purposes: Average onthly fair arket value of securities 1a Average of onthly cash alances 1 Fair arket value of all other assets (see instructions) 1c Total (add lines 1a,, and c) 1d Reduction claied for lockage or other factors reported on lines 1a and 1c (attach detailed explanation) 1e Acquisition indetedness applicale to line 1 assets 2 Sutract line 2 fro line 1d 3 Cash deeed held for charitale activities. Enter 1 1/2 % of line 3 (for greater aount, see instructions) 4 Net value of noncharitale-use assets. Sutract line 4 fro line 3. Enter here and on Part V, line 4 5 Miniu investent return. Enter 5% of line 5 6 Distriutale Aount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not coplete this part.) 5 6 Part 1 Miniu investent return fro Part, line a Tax on investent incoe for 2011 fro Part V, line 5 2a 318. ncoe tax for (This does not include the tax fro Part V.) 2 c Add lines 2a and 2 2c 3 Distriutale aount efore adjustents. Sutract line 2c fro line Recoveries of aounts treated as qualifying distriutions 4 5 Add lines 3 and Deduction fro distriutale aount (see instructions) 6 7 Distriutale aount as adjusted. Sutract line 6 fro line 5. Enter here and on Part, line 1 Part Qualifying Distriutions (see instructions) M.E. & F.J. CALLAHAN FOUNDATON Aounts paid (including adinistrative expenses) to accoplish charitale, etc., purposes: a Expenses, contriutions, gifts, etc. - total fro Part, colun (d), line 26 1a 271,640. Progra-related investents - total fro Part -B 1 2 Aounts paid to acquire assets used (or held for use) directly in carrying out charitale, etc., purposes 2 3 Aounts set aside for specific charitale projects that satisfy the: a Suitaility test (prior RS approval required) 3a Cash distriution test (attach the required schedule) 3 4 Qualifying distriutions. Add lines 1a through 3. Enter here and on Part V, line 8, and Part, line , Foundations that qualify under section 4940(e) for the reduced rate of tax on net investent incoe. Enter 1% of Part, line 27 (see instructions) Adjusted qualifying distriutions. Sutract line 5 fro line ,322. Note. The aount on line 6 will e used in Part V, colun (), in susequent years when calculating whether the foundation qualifies for the section 4940(e) reduction of tax in those years , , , , , , , , , , ,363. For 990-PF (2011) JSA 1E N36G /18/ :48:06 AM V PAGE 9

9 For 990-PF (2011) Page 9 Undistriuted ncoe (see instructions) Part 1 Distriutale aount for 2011 fro Part, line 7 2 Undistriuted incoe, if any, as of the end of 2011: a Enter aount for 2010 only Total for prior years: ,2 0 08, Excess distriutions carryover, if any, to 2011: a Fro ,760. Fro ,672. c Fro ,990. d Fro ,402. e Fro ,953. f Total of lines 3a through e 4 Qualifying distriutions for 2011 fro Part, line 4: $ 271,640. a Applied to 2010, ut not ore than line 2a Applied to undistriuted incoe of prior years (Election required - see instructions) c Treated as distriutions out of corpus (Election required - see instructions) d Applied to 2011 distriutale aount e Reaining aount distriuted out of corpus 5 Excess distriutions carryover applied to 2011 (f an aount appears in colun (d), the sae aount ust e shown in colun (a).) 6 Enter the net total of each colun as indicated elow: a Corpus. Add lines 3f, 4c, and 4e. Sutract line 5 Prior years' undistriuted incoe. Sutract line 4 fro line 2 c Enter the aount of prior years' undistriuted incoe for which a notice of deficiency has een issued, or on which the section 4942(a) tax has een previously assessed d Sutract line 6c fro line 6. Taxale aount - see instructions e Undistriuted incoe for Sutract line 4a fro line 2a. Taxale aount - see instructions f Undistriuted incoe for Sutract lines 4d and 5 fro line 1. This aount ust e distriuted in Aounts treated as distriutions out of corpus to satisfy requireents iposed y section 170()(1)(F) or 4942(g)(3) (see instructions) 8 Excess distriutions carryover fro 2006 not applied on line 5 or line 7 (see instructions) 9 Excess distriutions carryover to Sutract lines 7 and 8 fro line 6a 10 Analysis of line 9: a Excess fro 2007 Excess fro 2008 c Excess fro 2009 d Excess fro 2010 e Excess fro 2011 M.E. & F.J. CALLAHAN FOUNDATON , , , , ,277. (a) () (c) (d) Corpus Years prior to , , , , , , ,363. For 990-PF (2011) JSA 1E N36G /18/ :48:06 AM V PAGE 10

10 M.E. & F.J. CALLAHAN FOUNDATON Private Operating Foundations (see instructions and Part V-A, question 9) NOT APPLCABLE For 990-PF (2011) Page 10 Part V 1 a f the foundation has received a ruling or deterination letter that it is a private operating foundation, and the ruling is effective for 2011, enter the date of the ruling Check ox to indicate whether the foundation is a private operating foundation descried in section 4942(j)(3) or 4942(j)(5) 2 a Enter the lesser of the adjusted net incoe fro Part or the iniu investent return fro Part for each year listed 85% of line 2a c d Qualifying distriutions fro Part, line 4 for each year listed Aounts included in line 2c not used directly for active conduct of exept activities e Qualifying distriutions ade directly for active conduct of exept activities. Sutract line 2d fro line 2c 3 Coplete 3a,, or c for the alternative test relied upon: a "Assets" alternative test - enter: (1) Value of all assets c (2) Value of assets qualifying under section 4942(j)(3)(B)(i) "Endowent" alternative testenter 2/3 of iniu investent return shown in Part, line 6 for each year listed "Support" alternative test - enter: (1) (2) Total support other than gross investent incoe (interest, dividends, rents, payents on securities loans (section 512(a)(5)), or royalties) Support fro general pulic and 5 or ore exept organizations as provided in section 4942 (j)(3)(b)(iii) (3) Largest aount of support fro an exept organization (4) Gross investent incoe Part V 1 a Tax year Prior 3 years (a) 2011 () 2010 (c) 2009 (d) 2008 (e) Total Suppleentary nforation (Coplete this part only if the foundation had $5,000 or ore in assets at any tie during the year - see instructions.) nforation Regarding Foundation Managers: List any anagers of the foundation who have contriuted ore than 2% of the total contriutions received y the foundation efore the close of any tax year (ut only if they have contriuted ore than $5,000). (See section 507(d)(2).) F. J. CALLAHAN List any anagers of the foundation who own 10% or ore 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. 2 a c NONE nforation Regarding Contriution, Grant, Gift, Loan, Scholarship, etc., Progras: Check here if the foundation only akes contriutions to preselected charitale organizations and does not accept unsolicited requests for funds. f the foundation akes gifts, grants, etc. (see instructions) to individuals or organizations under other conditions, coplete ites 2a,, c, and d. The nae, address, and telephone nuer of the person to who applications should e addressed: The for in which applications should e suitted and inforation and aterials they should include: N/A Any suission deadlines: d N/A Any restrictions or liitations on awards, such as y geographical areas, charitale fields, kinds of institutions, or other factors: N/A JSA For 990-PF (2011) 1E N36G /18/ :48:06 AM V PAGE 11

11 For 990-PF (2011) Page 11 Part V Suppleentary nforation (continued) 3 Grants and Contriutions Paid During the Year or Approved for Future Payent Recipient Nae and address (hoe or usiness) a Paid during the year ATTACHMENT 9 M.E. & F.J. CALLAHAN FOUNDATON f recipient is an individual, show any relationship to any foundation anager or sustantial contriutor Foundation status of recipient Purpose of grant or contriution Aount Total Approved for future payent 3a 269,500. Total 3 For 990-PF (2011) JSA 1E N36G /18/ :48:06 AM V PAGE 12

12 For 990-PF (2011) Page 12 Part V-A Analysis of ncoe-producing Activities Enter gross aounts unless otherwise indicated. 1 Progra service revenue: a c d e f g Fees and contracts fro governent agencies 2 Meership dues and assessents 3 nterest on savings and teporary cash investents 4 Dividends and interest fro securities 5 Net rental incoe or (loss) fro real estate: a Det-financed property Not det-financed property 6 Net rental incoe or (loss) fro personal property 7 Other investent incoe 8 Gain or (loss) fro sales of assets other than inventory 9 Net incoe or (loss) fro special events 10 Gross profit or (loss) fro sales of inventory 11 Other revenue: a c d Unrelated usiness incoe Excluded y section 512, 513, or 514 (a) Business code () Aount (c) Exclusion code (d) Aount e 12 Sutotal. Add coluns (), (d), and (e) 13 Total. Add line 12, coluns (), (d), and (e) 13 (See worksheet in line 13 instructions to verify calculations.) Part V-B Relationship of Activities to the Accoplishent of Exept Purposes Line No. L M.E. & F.J. CALLAHAN FOUNDATON , , ,345. (e) Related or exept function incoe (See instructions.) 32,345. Explain elow how each activity for which incoe is reported in colun (e) of Part V-A contriuted iportantly to the accoplishent of the foundation's exept purposes (other than y providing funds for such purposes). (See instructions.) JSA For 990-PF (2011) 1E N36G /18/ :48:06 AM V PAGE 13

13

14 M.E. & F.J. CALLAHAN FOUNDATON FORM 990-PF - PART V CAPTAL GANS AND LOSSES FOR TA ON NVESTMENT NCOME P Kind of Property Description or Date D acquired Gross sale Depreciation Cost or FMV Adj. asis Excess of Gain price less allowed/ other as of as of FMV over or expenses of sale allowale asis 12/31/69 12/31/69 adj asis (loss) TOTAL LONG-TERM CAPTAL GAN DVDENDS 5,524. Date sold 1,287 SHS GS SMALL CAP VALUE FUND 07/02/ /21/ , , ,456. TOTAL GAN(LOSS)... 23,980. JSA 1E N36G /18/ :48:06 AM V PAGE 15

15 M.E. & F.J. CALLAHAN FOUNDATON ATTACHMENT 1 FORM 990PF, PART - NTEREST ON TEMPORARY CASH NVESTMENTS REVENUE AND EPENSES NET NVESTMENT DESCRPTON PER BOOKS NCOME GOLDMAN SACHS TOTAL ATTACHMENT 1 58N36G /18/ :48:06 AM V PAGE 16

16 M.E. & F.J. CALLAHAN FOUNDATON ATTACHMENT 2 FORM 990PF, PART - DVDENDS AND NTEREST FROM SECURTES REVENUE AND EPENSES NET NVESTMENT DESCRPTON PER BOOKS NCOME GOLDMAN SACHS # ,331. 8,331. TOTAL 8,331. 8,331. ATTACHMENT 2 58N36G /18/ :48:06 AM V PAGE 17

17 M.E. & F.J. CALLAHAN FOUNDATON ATTACHMENT 3 FORM 990PF, PART - LEGAL FEES REVENUE AND EPENSES NET NVESTMENT ADJUSTED NET CHARTABLE DESCRPTON PER BOOKS NCOME NCOME PURPOSES THOMPSON HNE 2,824. TOTALS 2,824. ATTACHMENT 3 58N36G /18/ :48:06 AM V PAGE 18

18 M.E. & F.J. CALLAHAN FOUNDATON ATTACHMENT 4 FORM 990PF, PART - ACCOUNTNG FEES REVENUE AND EPENSES NET NVESTMENT ADJUSTED NET CHARTABLE DESCRPTON PER BOOKS NCOME NCOME PURPOSES ERNST & YOUNG LLP 3,500. TOTALS 3,500. ATTACHMENT 4 58N36G /18/ :48:06 AM V PAGE 19

19 M.E. & F.J. CALLAHAN FOUNDATON ATTACHMENT 5 FORM 990PF, PART - TAES DESCRPTON REVENUE AND EPENSES PER BOOKS STATE FLNG FEE 500. TOTALS N36G /18/ :48:06 AM V PAGE 20

20 M.E. & F.J. CALLAHAN FOUNDATON ATTACHMENT 6 FORM 990PF, PART - OTHER EPENSES REVENUE AND EPENSES NET NVESTMENT CHARTABLE DESCRPTON PER BOOKS NCOME PURPOSES BANK CHARGES NVESTMENT FEES-GOLDMAN SACHS MARKETNG & COMMUNCATONS 8,562. 2,140. TOTALS 9, ,140. ATTACHMENT 6 58N36G /18/ :48:06 AM V PAGE 21

21 M.E. & F.J. CALLAHAN FOUNDATON FORM 990PF, PART - OTHER NVESTMENTS ATTACHMENT 7 ENDNG ENDNG DESCRPTON BOOK VALUE FMV GOLDMAN SACHS CORE FED 341, ,682. GOLDMAN SACHS SMALL CAP VALUE 176, ,085. TOTALS 518, ,767. ATTACHMENT 7 58N36G /18/ :48:06 AM V PAGE 22

22 M.E. & F.J. CALLAHAN FOUNDATON FORM 990PF, PART V - LST OF OFFCERS, DRECTORS, AND TRUSTEES ATTACHMENT 8 NAME AND ADDRESS TTLE AND AVERAGE HOURS PER WEEK DEVOTED TO POSTON F. J. CALLAHAN PRESDENT RCHMOND ROAD WARRENSVLLE HTS., OH T. J. CALLAHAN VCE-PRES RCHMOND ROAD 1.00 WARRENSVLLE HTS., OH T.J. CALLAHAN SECRETARY RCHMOND ROAD 1.00 WARRENSVLLE HTS., OH GRAND TOTALS ATTACHMENT 8 58N36G /18/ :48:06 AM V PAGE 23

23 M.E. & F.J. CALLAHAN FOUNDATON FORM 990PF, PART V - GRANTS AND CONTRBUTONS PAD DURNG THE YEAR ATTACHMENT 9 RELATONSHP TO SUBSTANTAL CONTRBUTOR AND RECPENT NAME AND ADDRESS FOUNDATON STATUS OF RECPENT PURPOSE OF GRANT OR CONTRBUTON AMOUNT CLEVELAND NTERNATONAL FLM FESTVAL NONE CHARTABLE 15, MARKET AVENUE CLEVELAND, OH EEMPT POSTVE EDUCATON PROGRAM NONE CHARTABLE 10, EUCLD AVENUE EEMPT CLEVELAND, OH CASE WESTERN RESERVE UNVERSTY NONE CHARTABLE 225, BELLFLOWER ROAD EEMPT CLEVELAND, OH THE SCULTURE CENTER NONE CHARTABLE 12, EAST 123RD STREET EEMPT CLEVELAND, OH SCRANTON ROAD MNSTRES NONE CHARTABLE 7, SCRANTON ROAD EEMPT CLEVELAND, OH TOTAL CONTRBUTONS PAD 269,500. ATTACHMENT 9 58N36G /18/ :48:06 AM V PAGE 24

24 SCHEDULE D (For 1041) Departent of the Treasury nternal Revenue Service Nae of estate or trust Capital Gains and Losses Attach to For 1041, For 5227, or For 990-T. See the nstructions for Schedule D (For 1041) (also for For 5227 or For 990-T, if applicale). Eployer identification nuer M.E. & F.J. CALLAHAN FOUNDATON Note: For 5227 filers need to coplete only Parts and. Part Short-Ter Capital Gains and Losses - Assets Held One Year or Less 1a (a) Description of property (Exaple: 100 shares 7% preferred of "Z" Co.) () Date acquired (o., day, yr.) (c) Date sold (o., day, yr.) (d) Sales price (e) Cost or other asis (see instructions) OMB No À¾µµ (f) Gain or (loss) for the entire year Sutract (e) fro (d) Enter the short-ter gain or (loss), if any, fro Schedule D-1, line Short-ter capital gain or (loss) fro Fors 4684, 6252, 6781, and Net short-ter gain or (loss) fro partnerships, S corporations, and other estates or trusts 3 4 Short-ter capital loss carryover. Enter the aount, if any, fro line 9 of the 2010 Capital Loss Carryover Worksheet 4 ( ) 5 Net short-ter gain or (loss). Coine lines 1a through 4 in colun (f). Enter here and on line 13, colun (3) on the ack 5 Part Long-Ter Capital Gains and Losses - Assets Held More Than One Year (f) Gain or (loss) for (a) Description of property () Date acquired (c) Date sold (e) Cost or other asis (d) Sales price the entire year (Exaple: 100 shares 7% preferred of "Z" Co.) (o., day, yr.) (o., day, yr.) (see instructions) Sutract (e) fro (d) 6a LONG-TERM CAPTAL GAN DVDENDS ATCH 1 5,524. Enter the long-ter gain or (loss), if any, fro Schedule D-1, line , Long-ter capital gain or (loss) fro Fors 2439, 4684, 6252, 6781, and Net long-ter gain or (loss) fro partnerships, S corporations, and other estates or trusts 8 9 Capital gain distriutions 9 10 Gain fro For 4797, Part Long-ter capital loss carryover. Enter the aount, if any, fro line 14 of the 2010 Capital Loss Carryover Worksheet 11 ( ) 12 Net long-ter gain or (loss). Coine lines 6a through 11 in colun (f). Enter here and on line 14a, colun (3) on the ack 12 23,980. For Paperwork Reduction Act Notice, see the nstructions for For Schedule D (For 1041) 2011 JSA 1F N36G /18/ :48:06 AM V PAGE 25

25 Schedule D (For 1041) 2011 Page 2 Part Suary of Parts and Caution: Read the instructions efore copleting this part. (1) Beneficiaries' (see instr.) (2) Estate's or trust's (3) Total Net short-ter gain or (loss) Net long-ter gain or (loss): 13 a c Total for year Unrecaptured section 1250 gain (see line 18 of the wrksht.) 28% rate gain 14a 14 14c 23, Total net gain or (loss). Coine lines 13 and 14a 15 23,980. Note: f line 15, colun (3), is a net gain, enter the gain on For 1041, line 4 (or For 990-T, Part, line 4a). f lines 14a and 15, colun (2), are net gains, go to Part V, and do not coplete Part V. f line 15, colun (3), is a net loss, coplete Part V and the Capital Loss Carryover Worksheet, as necessary. Part V Capital Loss Liitation 16 Enter here and enter as a (loss) on For 1041, line 4 (or For 990-T, Part, line 4c, if a trust), the saller of: a The loss on line 15, colun (3) or $3, ( ) Note: f the loss on line 15, colun (3), is ore than $3,000, or if For 1041, page 1, line 22 (or For 990-T, line 34), is a loss, coplete the Capital Loss Carryover Worksheet in the instructions to figure your capital loss carryover. Part V Tax Coputation Using Maxiu Capital Gains Rates For 1041 filers. Coplete this part only if oth lines 14a and 15 in colun (2) are gains, or an aount is entered in Part or Part and there is an entry on For 1041, line 2(2), and For 1041, line 22, is ore than zero. Caution: Skip this part and coplete the Schedule D Tax Worksheet in the instructions if: Either line 14, col. (2) or line 14c, col. (2) is ore than zero, or % Both For 1041, line 2(1), and For 4952, line 4g are ore than zero. For 990-T trusts. Coplete this part only if oth lines 14a and 15 are gains, or qualified dividends are included in incoe in Part of For 990-T, and For 990-T, line 34, is ore than zero. Skip this part and coplete the Schedule D Tax Worksheet in the instructions if either line 14, col. (2) or line 14c, col. (2) is ore than zero Enter taxale incoe fro For 1041, line 22 (or For 990-T, line 34) 17 Enter the saller of line 14a or 15 in colun (2) ut not less than zero 18 Enter the estate's or trust's qualified dividends fro For 1041, line 2(2) (or enter the qualified dividends included in incoe in Part of For 990-T) 19 Add lines 18 and f the estate or trust is filing For 4952, enter the aount fro line 4g; otherwise, enter Sutract line 21 fro line 20. f zero or less, enter Sutract line 22 fro line 17. f zero or less, enter Enter the saller of the aount on line 17 or $2, s the aount on line 23 equal to or ore than the aount on line 24? Yes. Skip lines 25 and 26; go to line 27 and check the "No" ox. No. Enter the aount fro line Sutract line 25 fro line Are the aounts on lines 22 and 26 the sae? Yes. Skip lines 27 thru 30; go to line 31. No. Enter the saller of line 17 or line Enter the aount fro line 26 (f line 26 is lank, enter -0-) 28 Sutract line 28 fro line Multiply line 29 y 15% (.15) 30 Figure the tax on the aount on line 23. Use the 2011 Tax Rate Schedule for Estates and Trusts (see the Schedule G instructions in the instructions for For 1041) 31 Add lines 30 and Figure the tax on the aount on line 17. Use the 2011 Tax Rate Schedule for Estates and Trusts (see the Schedule G instructions in the instructions for For 1041) 33 Tax on all taxale incoe. Enter the saller of line 32 or line 33 here and on For 1041, Schedule G, line 1a (or For 990-T, line 36) 34 Schedule D (For 1041) 2011 JSA 1F N36G /18/ :48:06 AM V PAGE 26

26 Schedule D-1 (For 1041) 2011 Page 2 Nae of estate or trust as shown on For Do not enter nae and eployer identification nuer if shown on the other side. Eployer identification nuer M.E. & F.J. CALLAHAN FOUNDATON Part Long-Ter Capital Gains and Losses - Assets Held More Than One Year 6a (a) Description of property (Exaple: 100 sh. 7% preferred of "Z" Co.) () Date acquired (o., day, yr.) (c) Date sold (o., day, yr.) (d) Sales price (e) Cost or other asis (see instructions) (f) Gain or (loss) Sutract (e) fro (d) 1,287 SHS GS SMALL CAP VALUE FUND 07/02/ /21/ , , , Total. Coine the aounts in colun (f). Enter here and on Schedule D, line 6 18,456. Schedule D-1 (For 1041) 2011 JSA 1F N36G /18/ :48:06 AM V PAGE 27

27 M.E. & F.J. CALLAHAN FOUNDATON FEDERAL CAPTAL GAN DVDENDS LONG-TERM CAPTAL GAN DVDENDS ATTACHMENT 1 15% RATE CAPTAL GAN DVDENDS GOLDMAN SACHS # ,524. TOTAL 15% RATE CAPTAL GAN DVDENDS 5,524. TOTAL LONG-TERM CAPTAL GAN DVDENDS 5,524. ATTACHMENT 1 58N36G /18/ :48:06 AM V PAGE 28