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Annenberg Foundation l efile GRAPHIC p rint - DO NOT PROCESS As Filed Data - DLN: 93491320028575 OMB No 1545-0052 Form 990-PF Return of Private Foundation or Section 4947(a)(1) Trust Treated as Private Foundation 2014 0- Do not enter social security numbers on this form as it may be made public. Department of the Treasury 0- Information about Form 990-PF and its instructions is at www.irs.gov/form990Pf . Open to Pu b lic Internal Revenue Service ITSBeCtiOT For calendar year 2014, or tax year beginning 01-01-2014 , and ending 12-31-2014 Name of foundation A Employer identification number The Annenberg Foundation 23-6257083 O/o PAUL I MANGANIELLO Number and street (or P 0 box number if mail is not delivered to street address) Room/suite U ieiepnone number (see instructions) 101 West Elm Street (610) 341-9268 City or town, state or province, country, and ZIP or foreign postal code C If exemption application is pending, check here F Conshohocken, PA 19428 G Check all that apply r'Initial return r'Initial return of a former public charity D 1. Foreign organizations, check here F r Final return r'Amended return 2. Foreign organizations meeting the 850/, r- Address change r'Name change test, check here and attach computation F E If private foundation status was terminated H C heck type of organization Section 501(c)(3) exempt private foundation und er section 507 ( b )( 1 )( A ), c hec k here F_ Section 4947(a)(1) nonexempt charitable trust r'Other taxable private foundation I Fair market value of all assets at end J Accounting method F Cash F Accrual F If the foundation is in a 60-month termination of year (from Part II, col. (c), r Other (specify) under section 507(b)(1)(B), check here 0- F line 1,663,095,893 (Part I, column (d) must be on cash basis.) (d) Disbursements Analysis of Revenue and Expenses (The (a) Revenue and (b) Net investment (c) Adjusted net for charitable total of amounts in columns (b), (c), and (d) may not expenses per income income purposes necessanly equal the amounts in column (a) (see books instructions) ) (cash basis only) 1 Contributions, gifts, grants, etc , received (attach schedule) . 64,263 2 Check Nil F- if the foundation is not required to attach Sch B . 3 Interest on savings and temporary cash investments 9,339 2,310 4 Dividends and interest from securities. 12,459,737 19,697,207 5a Gross rents . 294,749 229,733 b Net rental income or (loss) 45,424 CO 6a Net gain or (loss) from sale of assets not on line 10 42,581,665 7V b Gross sales price for all assets on line 6a 7 Capital gain net income (from Part IV, line 2) 60,122,359 8 Net short-term capital gain . 9 Income modifications . 10a Gross sales less returns and allowances 833,542 b Less Cost of goods sold . 204,131 c Gross profit or (loss) (attach schedule) . 629,411 629,411 11 Other income (attach schedule) . 3,537,942 -795,049 124,483 12 Total. Add lines 1 through 11 . 59,577,106 79,256,560 753,894 13 Compensation of officers, directors, trustees, etc 792,576 262,173 527,609 14 Other employee salaries and wages 7,548,752 117,500 753,894 6,666,773 15 Pension plans, employee benefits . 3,449,645 139,118 3,303,117 16a Legal fees (attach schedule) . 1,368,760 24,999 0 1,023,172 b Accounting fees (attach schedule) . 129,517 0 0 125,067 W c Other professional fees (attach schedule) . 19 38,745,067 20,718,299 0 17,992,216 17 Interest qu 18 Taxes (attach schedule) (see instructions) . 19 1,178,322 434,172 1,704,768 19 Depreciation (attach schedule) and depletion . 4,376,416 52,823 20 Occupancy . 3,346,491 288,896 3,667,075 21 Travel, conferences, and meetings . 1,703,381 1,680,233 22 Printing and publications . 240,764 217,031 23 Other expenses (attach schedule) . 5,614,186 81,148 0 5,460,483 5= ^, 24 Total operating and administrative expenses. Add lines 13 through 23 . 68,493,877 22,119,128 753,894 42,367,544 25 Contributions, gifts, grants paid . 76,515,935 71,678,320 26 Total expenses and disbursements . Add lines 24 and 25 145,009,812 22,119,128 753,894 114,045,864 27 Subtract line 26 from line 12 a Excess of revenue over expenses and disbursements -85,432,706 b Net investment income (if negative, enter -0-) 57,137,432 c Adjusted net income (if negative, enter -0-) . For Paperwork Reduction Act Notice, see instructions . Cat No 11289X Form 990-PF (2014) Form 990-PF (2014) Pace 2 Attached schedules and amounts in the description column Beginning of year End of year Balance Sheets should be for end-of- y ear amounts onl y (See instructions (a) Boo k Va l ue ( b ) Boo k Va l ue (c) Fair M ark et Va l ue 1 Cash-non-interest-bearing . 8,163 2,500 2,500 2 Savings and temporary cash investments . 48,075,814 38,332,591 38,332,591 3 Accounts receivable ► Less allowance for doubtful accounts Oil 4 Pledges receivable ► Less allowance for doubtful accounts Oil 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) Less allowance for doubtful accounts ► cn 8 Inventories for sale or use . 469,656 445,355 445,355 9 Prepaid expenses and deferred charges . 227,783 205,812 205,812 uti 4 10a Investments-U S and state government obligations (attach schedule) 45,669,956 45,837,698 45,837,698 b Investments-corporate stock (attach schedule) . 515,147,38 2 523,463,555 523,463,555 c Investments-corporate bonds (attach schedule). 181,153,001 142,393,892 142,393,892 11 Investments-land, buildings, and equipment basis ► Less accumulated depreciation (attach schedule) 12 Investments-mortgage loans . 13 Investments-other (attach schedule) . 860,682,821 873,763,004 873,763,004 57,984,387 14 Land, buildings, and equipment basis ► Less accumulated depreciation (attach schedule) P, 22,587,863 17,183,599 35,396,524 35,396,524 15 Other assets (describe Ilk- ) 21,986,012 3,254,962 3,254,962 16 Total assets (to be completed by all filers-see the instructions Also, see page 1, item I) 1,690,604,187 1,663,095,893 1,663,095,893 17 Accounts payable and accrued expenses . 3,656,025 5,452,049 18 Grants payable . 34,410,742 39,360,240 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 Oil ) 19 5,072,025 Qg 4,529,206 23 Total liabilities (add lines 17 through 22) . 43,138,792 49,341,495 Foundations that follow SFAS 117, check here ' F co and complete lines 24 through 26 and lines 30 and 31. r_ 24 U nrestricted . 1,647,464,395 1,613,753,398 15 25 Temporarily restricted cor3 +1 26 Permanently restricted . 1,000 1,000 Foundations that do not follow SFAS 117, check here u_ 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 w1 29 Retained earnings, accumulated income, endowment, or other funds 30 Total net assets or fund balances (see instructions) . 1,647,465,395 1,613,754,398 Z 31 Total liabilities and net assets / fund balances (see instructions) 1,690,604,187 1,663,095,893 COM 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 1,647,465,395 2 Enter amount from Part I, line 27a . 2 -85,432,706 3 Other increases not included in line 2 (itemize) ID 3 51,721,709 4 Add lines 1, 2, and 3 . 4 1,613,754,398 5 Decreases not included in line 2 (itemize) Oil 5 6 Total net assets or fund balances at end of year (line 4 minus line 5)-Part II, column (b), line 30 6 1,613,754,398 Form 990-PF (2014) Form 990-PF (2014) Page 3 Ca ital Gains and Losses for Tax on Investment Income (b) How acquired (a) List and describe the kind(s) of property sold (e g , real estate, (c) Date acquired (d) Date sold P-Purchase 2-story brick warehouse, or common stock, 200 shs MLC Co (mo , day, yr (mo , day, yr D-Donation la PUBLICLY TRADED SECURITIES P b PASSTHROUGH SHORT TERM CAPITAL P c PASSTHROUGH LONG TERM CAPITAL GAINS P d PASS THROUGH INCOME FROM CONTRACTS & STRADDLES P e PASSTHROUGH BASIS ADJUSTMENT P (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (e) Gross sales price (or allowable) plus expense of sale (e) plus (f) minus (g) a 34,644,803 b 3,888,118 c 37,590,922 d -467,108 e -15,534,376 Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col (h) gain minus (j) Adjusted basis (k) Excess of col (i) col (k), but not less than -0-) or (i) F M V as of 12/31/69 as of 12/31/69 over col (j), if any Losses (from col (h)) a b C d e If gain, also enter in Part I, line 7 2 Capital gain net income or (net capital loss) If (loss), enter -0- in Part I, line 7 2 60,122,359 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 3 t1 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 ) f 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? fl Yes F 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 (d) Base period years Calendar Distribution ratio Adjusted qualifying distributions Net value of noncharitable-use assets year (or tax year beginning in) (col (b) divided by col (c)) 2013 112,646,403 1,593,070,859 0 07071 2012 107,916,036 1,516,754,924 0 071149 2011 53,065,188 1,580,098,000 0 033583 2010 103,520,989 1,644,933,708 0 062933 2009 150,128,144 1,622,808,720 0 092511 2 Total of line 1, column (d) .
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