Form 990-PF Return of Private Foundation W
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• 7 Form 990-PF Return of Private Foundation 0Mb 11. 1505-0052 or Section 4947(a)(1) Nonexempt Charitable Trust Department of the Treasury Treated as a Private Foundation Internal -anus -1ce l771 2007 Note : The foundation may be able to use a copy of this return to satisfy state reporting requirements. For calendar year 2007 , or tax year beginning , and ending r Ph-L, +u th ,t a nnk , F--1 Init ,nl retu .n F-1 ein,I .nr „ rn F-1 e.nnnd.d rnfi,.n F-1 Ad.l r. a nhenl+n F--1 un...n ..1.ennn Name of foundation A Employer Identification number Use the IRS label. Otherwise , ARTHUR J. GALLAGHER FOUNDATION 36-6082304 print Number and street (or P O box number if mad Is not delivered to street address) RooMsulte B Telephone number ortype. TWO PIERCE PLACE ( 630 ) 773-3800 See Specific City or town, state, and ZIP code C Instructions . If exemption application Is pending, check here ITASCA IL 60143-3141 0 1- Foreign organizations , check here 2. Foreign organizations meeting the 85% test, ► H Check typea of organization X Section 501 ()()c 3 exempt private foundation check here and attach computation Section 4947 (a)( 1 ) nonexempt charitable trust = Other taxable p rivate foundation E If private foundation status was terminated I Fair market value of all assets at end of year J Accounting method 0 Cash Accrual under section 507(b)(1)(A), check here .10.0 (from Part ll, col. (c), line 16) 0 Other (specify) F If the foundation is in a 60-month termination $ 2 2 9 6 5 6 9 . (Part 1, column (d) must be on cash basis.) ► under section 507(b)( 1 8), check here ► Analysis of Revenue and Expenses (a) Revenue and (b) Net investment (c) Adjusted net (d) Disbursements (The total of amounts In columns (b), (c), and (d) may not for charitable purposes necessarily equal the amounts In column (a)) expenses per books income income (cash basis only) 1 Contributions, gifts, grants, etc , received 1 , 569 , 545 . 2 Check ► Q if the taundatlon is not required to attach S& e Interest on savings and temporary 3 cash Investments . 4 Dividends and interest from securities. 116,855. 1.16, 8 5 5 . STATEMENT 1 5a Gross rents ... b Net rental Income or Qoss) m 6a Net gain or (loss) from sale of assets not on line 10 Gross sales price for all C b assets on line 6a y 7 Capital gain net Income (from Part IV, line 2) .. .. 0- 8 Net short-term capital gain 9 Income modifications Gloss sales less returns 10a and allow noes b Less Cost of goods sold c Gross profit or (loss) 11 Other me 12 Total. Ad lines t 1 , 686 , 400. 116 , 855. 13 Compensat n o officers, Irec rs, bu stees. etc U 0. 0. 0. 14 Other em 0 sale elan wage 008 .. 15 Pension p , em^fd'Sfe b efKs 16a Legal fees e b Accountm fees . OGDE UT e Other prof W 17 Interest S' 18 Taxes _ STMT _. 2 2 , 500. 0. 0. 19 Depreciation and depletion E 20 Occupancy a 21 Travel, conferences, and meetings CNJ ca 22 Printing and publications M c 23 Other expenses STMT 3 _ 1 513. 0 . 1, 513 . L 24 Total operating and administrative . expenses . Add lines 13 through 23 ..._ 4 013. 0 . 1 513 . 0 25 Contributions, gifts, grants paid 1 , 653 , 071. 1 , 653 , 071. 26 Total expenses and disbursements. 0 w Add lines 24 and 25 1 , 657 , 084. 0. 1 , 654 , 584. Z 27 Subtract line 26 from line 12. 29 316. a Excess of revenue over expenses and disbursements f b Net Investment Income of negative, enter -o-) 116 8 55 . c Ad lusted net Income (if negative, enter -0-) N/A Sr LHA For Privacy Act and Paperwork Reduction Act Notice , see the Instructions. Form 990-PF (2007) 723501 02-20-08 ^g 7 Fnrm 990-PF 120071 ARTH1IR J - rAT.T.AaHF.R FOITNDATTON 36-60823) 4 Paae2 Beginning of year End of year Balance Sheets Ar""""d"" anda"""nts; Inft6 `dpbon col1°mshould before f amounts only (a) Book Value (b) Book Value (c) Fair Market Value 1 Cash - non-Interest-bearing 18,739. 22,200. 22 , 200. 2 Savings and temporary cash investments 22 , 359. 48,214. 48,214. 3 Accounts receivable ► Less allowance for doubtful accounts ► 4 Pledges receivable ► Less. allowance for doubtful accounts ► 5 Grants receivable .. 6 Receivables due from officers, directors, trustees, and other disqualified persons . .. 7 MW notes and loans mxnabb ► Less allowance for doubtful accounts ► r 8 Inventones for sale or use 9 Prepaid expenses and deferred charges 10a Investments - U S and state government obligations _ b investments - corporate stock _ STMT 4 1,903 , 592. 1,903,592. 2 , 226 , 155. c Investments - corporate bonds 11 Imestments- Land. buildings, andequipmentbass _ ► Les aaunutated depmciaton . ► 12 Investments - mortgage loans 13 Investments - other ,_ _., , . , 14 Land, buildings, and equipment basis ► Less acamulatd dapraciabm ► 15 Other assets (describe ► ) 16 Total assets to be com pleted by all filers 1 , 94 4 690. 1 , 974 , 006. 2 1 296 , 569. 17 Accounts payable and accrued expenses 18 Grants payable m 19 Deferred revenue 20 Loans from officers, directors, trustees, and other disquahfied pemons m 21 Mortgages and other notes payable J 22 Other liabilities (describe ► 23 Total liabilities (add lines 17 throw h 22 ) 0. 0. Foundations that follow SFAS 117, check here ► EXXI and complete lines 24 through 26 and lines 30 and 31. 24 Unrestricted 1,944 , 690. 1,974 , 006. W 25 Temporarily restricted m 26 Permanently restricted .. V Foundations that do not follow SFAS 117, check here ► Q 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 z 30 Total net assets or fund balances 1 , 944,690. 1 , 974 , 006 . 31 Total liabilities and net assets/fu nd balances 1 , 944 , 690. 1 1 , 974 , 006. 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 years return) 1 1 , 944 , 690. 2 Enter amount from Part I, line 27a 2 29 , 316. 3 0. 3 Other increases not included in line 2 (itemize) ► 4 Add lines 1, 2, and 3 . .. ... ...... 4 1,974,006. 5 Decreases not included in line 2 (itemize) ► 6 Total net assets or fund balances at end of year (line 4 minus line 5) - Part Il, column (b), line 30 1,974,006. Form 990-PF (2007) 723511 02-20-08 41 T 2007 ARTHUR J. GALLAGHER FOUNDATION 36-60823U'4 Page 3 Part N Capital Gains and Losses for Tax on Investment Income (a) List and describe the kind(s) of property sold (e g , real estate, (b How acgwred (c) Date acquired (d) Date sold (mo , day, yr) (mo , day, yr ) 2-story buck warehouse, or common stock, 200 shs MLC Co) D - Donation 1a b NONE c d e (e) Gross sales price (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (or allowable) plus expense of sale (e) plus (f) minus (g) a b e d e Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col (h) gain minus or (j) Adjusted basis (k) Excess of col () col. (k), but less than (i) F M.V as of 12/31/69 as of 12/31/69 over col. (j), if any k not(from col ())(h)) a b C d e If ain, also enter in Part I, line 7 1 2 Ca pital gain net income or (net capital loss ) If (loss) , enter -0- in Part I , line 7 1 2 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) If (loss), enter -0- in Part I, line 8 3 I Part V I 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? ... 0 Yes Q No If *Yes," the foundation does not qualify under section 4940(e) Do not complete this part 1 Enter the appropriate amount in each column.for each year, see instructions before making any entries Base period years Distributio n Calendar ear (or tax year beg inning in ) Adjusted qual ify(bdistributionsing Net value of nonchantable-use assets (col (b) divided byy col (c)) 2006 1 , 416 , 232. 2 , 607 , 731. .543090 2005 1 , 843 , 193. 2 , 596 , 136. .709976 2004 997 520. 2 781 031. .358687 2003 756,403. 2 , 140 , 771. .353332 2002 691 148. 1 , 887 , 441. .366183 2 Total of line 1 , column (d) 2 2 .331268 3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5, or by the number of yea rs the foundation has been in existence if less than 5 years 3 . 4 6 6 2 5 4 4 Enter the net value of nonchantable-use assets for 2007 from Part X, line 5 4 2 , 640 , 557.