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2015 Form 990-PF

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2015 Form 990-PF Return of Private Foundation OMB No. 1545-0052 Form 990-PF or Section 4947(a)(1) Trust Treated as Private Foundation Do not enter social security numbers on this form as it may be made public. Department of the Treasury Internal Revenue Service Information about Form 990-PF and its separate instructions is at www.irs.gov/form990pf. Open to Public Inspection For calendar year 2015 or tax year beginning , 2015, and ending , 20 Name of foundation A Employer identification number THE ANNENBERG FOUNDATION 23-6257083 Number and street (or P.O. box number if mail is not delivered to street address) Room/suite B Telephone number (see instructions) 101 WEST ELM STREET 640 (610) 341-9268 City or town, state or province, country, and ZIP or foreign postal code C If exemption application is pending, check here CONSHOHOCKEN, PA 19428 G Check all that apply: Initial return Initial return of a former public charity D 1. Foreign organizations, check here Final return Amended return 2. Foreign organizations meeting the Address change Name change 85% test, check here and attach computation H Check type of organization:X Section 501(c)(3) exempt private foundation E If private foundation status was terminated Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation under section 507(b)(1)(A), check here I Fair market value of all assets at J Accounting method: CashX Accrual F If the foundation is in a 60-month termination end of year (from Part II, col. (c), line Other (specify) under section 507(b)(1)(B), check here 16) $ 1,585,608,544. (Part I, column (d) must be on cash basis.) (d) Disbursements Part I 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) expenses per may not necessarily equal the amounts in income income purposes column (a) (see instructions).) books (cash basis only) 1 Contributions, gifts, grants, etc., received (attach schedule) 56,152. 2 Check if the foundation is not required to attach Sch. B 3 Interest on savings and temporary cash investments 6,131. 2,330. 4 Dividends and interest from securities 10,924,202. 18,415,506. 5a Gross rents 331,695. 229,733. b Net rental income or (loss) -19,592. 6a Net gain or (loss) from sale of assets not on line 10 42,048,963. b Gross sales price for all assets on line 6a 1,915,896,069. 7 Capital gain net income (from Part IV, line 2) 70,838,921. Revenue 8 Net short-term capital gain 9 Income modifications 10a Gross sales less returns 486,476. and allowances ATCH 1 b Less: Cost of goods sold 693,675. c Gross profit or (loss) (attach schedule) -207,199. -207,199. 11 Other income (attach schedule) ATCH 2 1,284,378. -1,364,438. 231,299. 12 Total. Add lines 1 through 11 54,444,322. 88,122,052. 24,100. 13 Compensation of officers, directors, trustees, etc. 932,689. 280,464. 671,027. 14 Other employee salaries and wages 7,384,419. 169,539. 24,100. 7,501,222. 15 Pension plans, employee benefits 3,875,590. 176,294. 3,877,019. 16a Legal fees (attach schedule) ATCH 3 851,797. 66,311. 1,238,532. b Accounting fees (attach schedule)ATCH 4 144,771. 2,664. 103,174. c Other professional fees (attach schedule) [5] 29,278,944. 14,197,869. 13,000,135. 17 Interest 18 Taxes (attach schedule) (see instructions)[6] 360,093. 393,008. 203,809. 19 Depreciation (attach schedule) and depletion 4,613,497. 51,997. 20 Occupancy 3,710,548. 365,824. 3,668,334. 21 Travel, conferences, and meetings 1,331,991. 21,601. 1,364,132. 22 Printing and publications 153,750. 2,794. 185,281. 23 Other expenses (attach schedule)ATCH 7 5,824,780. 28,343. 5,743,693. 24 Total operating and administrative expenses. Add lines 13 through 23 58,462,869. 15,756,708. 24,100. 37,556,358. 64,355,490. 61,354,178. Operating and25 Administrative Expenses Contributions, gifts, grants paid 26 Total expenses and disbursements. Add lines 24 and 25 122,818,359. 15,756,708. 24,100. 98,910,536. 27 Subtract line 26 from line 12: a Excess of revenue over expenses and disbursements -68,374,037. b Net investment income (if negative, enter -0-) 72,365,344. c Adjusted net income (if negative, enter -0-) JSA For Paperwork Reduction Act Notice, see instructions. Form 990-PF (2015) 5E1410 1.000 61734Y 700P 11/8/2016 10:11:52 AM V 15-7F 0167070-00010 PAGE 1 Form 990-PF (2015) THE ANNENBERG FOUNDATION 23-6257083 Page 2 Attached schedules and amounts in the Beginning of year End of year Part II Balance Sheets description column should be for end-of-year amounts only. (See instructions.) (a) Book Value (b) Book Value (c) Fair Market Value 1 Cash - non-interest-bearing 2,500. 2,400. 2,400. 2 Savings and temporary cash investments 38,332,591. 35,038,492. 35,038,492. 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 (attach schedule) (see instructions) 7 Other notes and loans receivable (attach schedule) Less: allowance for doubtful accounts 8 Inventories for sale or use 445,355. 34,243. 34,243. 9 Prepaid expenses and deferred charges 205,812. 870,134. 870,134. Assets 10a Investments - U.S. and state government obligations (attach schedule)[8] 45,837,698. 44,335,881. 44,335,881. b Investments - corporate stock (attach schedule) ATCH 9 523,463,555. 461,133,268. 461,133,268. c Investments - corporate bonds (attach schedule) ATCH 10 142,393,892. 166,780,154. 166,780,154. 11 Investments - land, buildings, and equipment: basis Less: accumulated depreciation (attach schedule) 12 Investments - mortgage loans 13 Investments - other (attach schedule) ATCH 11 873,763,004. 825,800,496. 825,800,496. 14 Land, buildings, and equipment: basis 61,072,912. Less: accumulated depreciation 26,933,351. 35,396,524. 34,139,561. 34,139,561. (attach schedule) 15 Other assets (describe ATCH 12 ) 3,254,962. 17,473,915. 17,473,915. 16 Total assets (to be completed by all filers - see the instructions. Also, see page 1, item I) 1,663,095,893. 1,585,608,544. 1,585,608,544. 17 Accounts payable and accrued expenses 5,452,049. 4,409,101. 18 Grants payable 39,360,240. 42,621,008. 19 Deferred revenue 20 Loans from officers, directors, trustees, and other disqualified persons 21 Mortgages and other notes payable (attach schedule) Liabilities 22 Other liabilities (describe ATCH 13 ) 4,529,206. 26,510,105. 23 Total liabilities (add lines 17 through 22) 49,341,495. 73,540,214. Foundations that follow SFAS 117, check here X and complete lines 24 through 26 and lines 30 and 31. 24 Unrestricted 1,613,753,398. 1,512,067,330. 25 Temporarily restricted 26 Permanently restricted 1,000. 1,000. Foundations that do not follow SFAS 117, check here 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) 1,613,754,398. 1,512,068,330. 31 Total liabilities and net assets/fund balances (see Net Assets or Fund Balances instructions) 1,663,095,893. 1,585,608,544. 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 1,613,754,398. 2 Enter amount from Part I, line 27a 2 -68,374,037. 3 Other increases not included in line 2 (itemize) 3 4 Add lines 1, 2, and 3 4 1,545,380,361. 5 Decreases not included in line 2 (itemize) ATCH 145 33,312,031. 6 Total net assets or fund balances at end of year (line 4 minus line 5) - Part II, column (b), line 30 6 1,512,068,330. Form 990-PF (2015) JSA 5E1420 1.000 61734Y 700P 11/8/2016 10:11:52 AM V 15-7F 0167070-00010 PAGE 2 THE ANNENBERG FOUNDATION 23-6257083 Form 990-PF (2015) Page 3 Part IV Capital Gains and Losses for Tax on Investment Income (a) List and describe the kind(s) of property sold (e.g., real estate, (b) How (c) Date acquired acquired (d) Date sold 2-story brick warehouse; or common stock, 200 shs. MLC Co.) P-Purchase (mo., day, yr.) D-Donation (mo., day, yr.) 1a SEE PART IV SCHEDULE b c d e (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 b c d e Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) 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 70,838,921.
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