Form'990=PF ReturnofPrivate Foundation 2007990s.foundationcenter.org/990pf_pdf_archive/223/... · 2017-06-20 · ELSIE & WILLIAM VILES FOUNDATION Form-990-PF(2007) C/O MARK L. JOHNSTON,

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Form'990=PF Return of Private FoundationW or Section 4947(a)(1) Nonexempt Charitable Trust

Department ottheTreasury Treated as a Private FoundationInternal Revenue Service (77) Note : The foundation maybe able to use a copy of this return to satisfy state reportt

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OMB No 1545-0052

2007For calendar year 2007, or tax year beginning AUG 1, 2007 , and ending JUL 31, 2008/• !`Kent, .,11 fh,f ennh, 1 1 Inifisl rnfi,rn F__] Lind rnfi,rn I I AmenA.A rthnrn 11 AAArecc nhnnno I I N^.ne nhn......

Use the IRS Name of foundation A Employer identification number

label. LSIE & WILLIAM VILES FOUNDATIONOtherwise , /O MARK L. JOHNSTON, TREASURER 22-3089641

print Number and street (or P O box number if mail is not delivered to street address) Roomsuite B Telephone numberor type . ENNEBEC SAVINGS BANK - PO BOX 50 ( 207 ) 622-5801

See SpecificInstructions . City or town, state, and ZIP code C If exemption application is pending, check here ►

UGUSTA ME 04332 D 1. Foreign organizations, check here 00,0

H Check type of or9anization* ^X Section 501 (c)(3) exempt private foundation test, ►2. Foreign organ attarch

meetingcomputationDeck here an

datta

the 85%Lon

0 Section 4947 (a )( 1 ) nonexem pt charitable trust 0 Other taxable p rivate foundationE If ft d t t tpnva oun ion se a a us was terminated

I Fair market value of all assets at end of year J Accounting method EXI Cash Accrual under section 507(b)(1)(A), check here

(from Part 11, col. (c), line 16) 0 Other (specify) F If the foundation is in a 60-month termination► $ 780 , 207 . (Pan: 1, column (d) must be on cash basis) under section 507 ( b )( 1 ) B), check herePart I Analysis of Revenue and Expenses

(The total of amounts in columns (b), (c), and (d) may not( a) Revenue and

er booksex enses(b ) Net investment

in me(c) Adjusted net

in me( d) Disbursements

for chantable purposesnecessarily equal the amounts in column (a)) p p co co (cash basis only)

1 Contributions, gifts, grants, etc , received NIA

2 Check ► EXI it the foundation is not required to attach Sch B

3 Interest on savings and temporarycash investments 18 7 5 4 ./ 18 7 5 4 ./

4 Dividends and interest from securities .. . 7,974. 7,974.5a Gross rents

b Net rental income or foss)

6a Net gain or foss) from sale of assets not on line 10 -4,536 . Statement 1C b Gross sales pncefor all 57 , 249.assets on Ilne Ba

7 Capital gain net income (from Part IV, line 2) 0

8 Net short-term capital gain

9 Income modificationsGross sales less returns

10a and allowances

b Less Cost of goods sold

c Gross profit or (loss) ... .

11 Other income .

12 Total . Add lines 1 throuh11 22 , 192. 26,728.

13 Compensation of officers, directors , trustees , etc 0. 0. 0.

14 Other employee salaries and wages

15 Pension plans, employee benefits

16a Legal fees Stmt 2 3,500. 0. 3,500.a b Accounting fees Stmt 3 1,410. 0. 1,410.

W c Other professional fees Stmt 4 3,303. 3,303. 0.17 Interest .

21 18 Taxes Stmt 5 1,187. 0. 0.2 19 Depreciation and depletion .

E 20 Occupancy

a 21 Travel, conferences , and meetings

22 Printing and publications

I 23 Other expenses Stmt 6 88. 0. 88.0 24 Total operating nd adnRiM IVED

n expenses .Add nes 9,488. 3,303. 4 , 998.0 25 Contributions, g rants paid 40,250. 40,250.

26 Total expenses d isbQ3emeAs6 2008

Addlines 24an 25 _ U) 49 , 738. 3,303. 45,248.27 Subtract line 26 romlin GDEN UT,

a Excess of revenue over expenses and disbursements - 2 7 , 5 4 6

b Net investment income (if negative, enter-o-) 23,425. 1c Adjusted net income (if negative, enter -0 N/A

723501LHA For Privacy Act and Paperwork Reduction Act Notice , see the instructions . Form 990-PF (2007)

02-20-08

112140820 793251 80830-223 2007.06010 ELSIE & WILLIAM VILES FOUND 80830-01 7

ELSIE & WILLIAM VILES FOUNDATIONFormO90-PF (2007) C/O MARK L. JOHNSTON. TREASURER

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^^_^nszo^n i D, .'J

Balance Sheets "'ai1i0 sthedUles andamount ""1ed=pDon Beginning of year End of yearcolumn should be for endbf-yeatamounts only

(a) Book() (b) Book Value (C) Fair Market Value? 1 Cash - non-interest-bearing. - ---- - -- -- -- - -- - -- - - 1 , 394. 4 7 . 4 7 ,

2 Savings and temporary cash investments .... 4 0 8, 7 6 4. 411 , 750. 411,750.3 Accounts receivable 111110-

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 Other notes and loans reca able ►

Less- allowance for doubtful accounts ►y 8 Inventones for sale or used

9 Prepaid expenses and deferred charges

10a Investments - U S and state government obligations --

b Investments - corporate stock -- - Stmt....7 407,238. 378 , 013. 368,410.c Investments - corporate bonds . -. ... -, -

11 Imesbrenti - land, buildings, and equipment bass ►

Less accumulated deprecIabon - ►

12 Investments - mortgage loans --

13 Investments - other

14 Land, buildings, and equipment basis ►Less a=mulated depra iabon ►

15 Other assets (describe ►

16 Total assets (to be completed by all filers ) 817 , 396. 789 , 810. 780 , 207.17 Accounts payable and accrued expenses - - --

18 Grants payable - --

W 19 Deferred revenue

20 Loans from officers, directors, trustees, and other disqualified persons • • -

.Lo 21 Mortgages and other notes payable - - - •

22 Other liabilities (describe ►

23 Total liabilities (add lines 17 throu g h 22 ) 0. 0.Foundations that follow SFAS 117, check here ►and complete lines 24 through 26 and lines 30 and 31.

24 Unrestricted

ccea

25 Temporarily restricted --m 26 Permanently restricted .

Foundations that do not follow SFAS 117, check here ► Fand complete lines 27 through 31.0

0Y 27 Capital stock, trust principal, or current funds •_- - - 817, 396. 789,810 .y 28 Paid-in or capital surplus, or land, bldg , and equipment fund 0. 0 ,

< 29 Retained earnings, accumulated income, endowment, or other funds 0. 0 .Z 30 Total net assets or fund balances - -. - 817,396. 789,810 .

31 Total liabilities and net assets and balances 817 3 9 6 . 789 , 810 .

1' p^rj jIf 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 ) - - 1 817,396 .

2 Enter amount from Part I , line 27a - - - - - - 2 -27,546 .3 Other increases not included in line 2 ( itemize) ► 3 0 ,4 Add lines 1 , 2, and 3 -- 4 789,850.5 Decreases not included in line 2 ( itemize ) ► BOOK-TAX DIFFERENCE ON SALE OF ASSET 5 40.6 Total net assets or fund balances at end of year ( line 4 minus line 5) - Part II , column (b), line 30 6 789 , 810 .

723511 Form 990-PF (2007)02-20-08

212140820 793251 80830-223 2007.06010 ELSIE & WILLIAM VILES FOUND 80830-01

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ELSIE & WILLIAM VILES FOUNDATIONForm980-PF (2007) C/O MARK L. JOHNSTON , TREASURER 22-3089641 Page 3

pat f1/ 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 buck warehouse; or common stock , 200 shs MLC Co)

( b 1How acquiredt' - PurchaseD - Donation

(c Date acquired(mo , day , yr.)

( d) Date sold(mo ., day, yr)

1a STATEMENT 9 P Various variousb STATEMENT 9 P Various variousc Capital Gains Dividendsd

e

(e) Gross sales price ( f) Depreciation allowed(or allowable )

( g) Cost or other basisplus expense of sale

( h) Gain or (loss)(e) plus (f) minus (g)

a 9,583. 12,009. -2,426.b 41,351. 49,776. -8,425.c 6,315. 6,315.d

eComplete only for assets showing gain in column ( h) and owned by the foundation on 12/31 /69 (I) Gains (Col. (h) gain minus

(1) F M V. as of 12/31/69(j) Adjusted basisas of 12/31/69

(k) Excess of col. (i)over col (1), if any

cal . ( k), but not less than -0-) orLosses (from col. (h))

a -2,426.b -8,425.c 6,315.d

e

2 Ca ital ain net income or net capital lossIf ain , also enter in Part I, line 7 1

P 9 ( ) If ?loss ), enter -0- in Part 1 line 7 ! . . 2 -4 , 536.

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 N/A

pant; V ( uualincation under bection 494U(e) Tor Ked]ucec1 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 OX No

If "Yes'the foundation does not qualify under section 4940 (e) Do not complete this part.1 Enter the anoroonate amount in each column for each year: see instructions before making any entries

Base pe riod yearsAdj usted q ual ify in g (col (b) divided by col. (c))

2006 44,540. 853,478. .0521862005 50,542. 832,005. .0607472004 22,262. 587,051. .0379222003 14,000. 451,859. .0309832002 19 , 6 5. 283 518. .069325

2 Total of line 1 , column (d) 2 .251163

3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5,

the foundation has been in existence if less than 5 years

or by the number of years

.. _ 3 . 0 5 0 2 3 3

4 Enter the net value of nonchantable-use assets for 2007 from Part X, line 5 4 835,714.

5 Multiply line 4 by line 3 , . 5 41,980.

6 Enter 1 % of net investment income ( 1 % of Part I , line 27b) 6 234.

7 Add lines 5 and 6 ,. 7 42 , 214.

8 Enter qualifying distributions from Part XII, line 4 8 45, 248.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 rateSee the Part VI instructions

723521/02-2408 Form 990-PF (2007)3


ELSIE & WILLIAM VILES FOUNDATIONForm-990-PF(2007) C/O MARK L. JOHNSTON , TREASURER 22-3089 641 Page 4Part VI Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 - see instructions)

1 a Exempt operating foundations described in section 4940(d)(2), check here ► El and enter 'N/A' on line 1

Date of ruling letter ( attach copy of ruling letter if necessary -see instructions)

b Domestic foundations that meet the section 4940(e) requirements in Part V, check here ► EX and enter 1 % 1 234.

of Part I, line 27b ..... . . .. ... .. .

c All other domestic foundations enter 2% of line 27b Exempt foreign organizations enter 4% of Part 1, 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 3 234.

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- 5 234.

6 Credits/Payments:

a 2007 estimated tax payments and 2006 overpayment credited to 2007 6a 600.

b Exempt foreign organizations - tax withheld at source 6b

c Tax paid with application for extension of time to file (Form 8868). .. . 5c

d Backup withholding erroneously withheld - - -• 6d

7 Total credits and payments. Add lines 6a through 6d - -- - 7 600.

8 Enter any penalty for underpayment of estimated tax Check here if Form 2220 is attached a

9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amount owed ► 9

10 Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid - ► 10 366.11 Enter the amount of line 10 to be Credited to 2008 estimated tax ► 3 6 6 . ] Refunded ► 11 0.

Part V11-A Statements Regarding Activities1 a During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in Yes No

any political campaigns la X

b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition) 111 X

If the answer is "Yes" to 1 a or 1 b, attach a detailed description of the activities and copies of any materials published or

distnbuted by the foundation in connection with the activities.

c Did the foundation file Form 1120-POL for this year? - - - - - - - 1 c X

d Enter the amount (d any) of tax on political expenditures (section 4955) imposed during the year

(1) On the foundation ► $ 0 . (2) On foundation managers ► $ 0

e Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed on foundation

managers ► $ 0.

2 Has the foundation engaged in any activities that have not previously been reported to the IRS" 2 X

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 X

4a Did the foundation have unrelated business gross income of $1,000 or more during the year? - - - 4a X

b If'Yes, has it filed a tax return on Form 990-T for this year? N/A - 4b

5 Was there a liquidation, termination, dissolution, or substantial contraction during the year? 5 X

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 X

7 Did the foundation have at least $5,000 in assets at any time during the year9 7 X

If "Yes, " complete Part Il, col. (c), and Part XV.

8a Enter the states to which the foundation reports or with which it is registered (see instructions) ►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 X

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 2007 or the taxable year beginning in 2007 (see instructions for Part XIV)? If "Yes, " complete Part XIV . - 9 X

10 Did any persons become substantial contributors during the tax year? it 'Yes,' attach aschedute listing their names and addresses 10 X

Form 990-PF (2007)

72353102-20-08


ELSIE & WILLIAM VILES FOUNDATIONForm 990-PF (2007) C/O MARK L. JOHNSTON , TREASURER 22-3089641 Page 5

P V{[-A Statements Regarding Activities (continued)

11 a 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 ) - - 11a X

b If 'Yes , did the foundation have a binding written contract in effect on August 17 , 2006 , covering the interest, rents , royalties, and

annuities described in the attachment for line 1la? . . .... ... N/A 11b

12 Did the foundation acquire a direct or indirect interest in any applicable insurance contract? ...... . 12

13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? 13 X

Website address ► N/A

X

14 The books are in care of ► MARK LL. JOHNSTON Telephone no ► (2 0 7) 6 2 2 -5 8 0 1

Located at ► KENNEBEC SAVINGS BANK, AUGUSTA, ME ZIP+4 ►0 4 3 32

15 Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 - Check here - - - • ►and enter the amount of tax-exempt interest received or accrued during the year - - - ► I 15 I N/A

P VU-B Statements Regarding Activities for Which Form 4720 May Be RequiredFile Form 4720 if any item is checked in the "Yes" column, unless an exception applies. Yes No

1 a During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange , or leasing of property with a disqualified persons 0 Yes OX No

(2) Borrow money from , lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? 0 Yes No

(3) Furnish goods , services , or facilities to ( or accept them from) a disqualified person? •- - El Yes O No

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? Q Yes LX No

(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 )' - - - - - - - 0 Yes OX No

(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 ) - - - - - ... -. =Yes ^X No

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 page 22 of the instructions ) ? - N/A 1b

Organizations relying on a current notice regarding disaster assistance check here ► Elc 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 2007? 1 c X

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 (l)(3) or 4942(j)(5))

a At the end of tax year 2007 , did the foundation have any undistributed income ( lines 6d and 6e, Part XIII) for tax year(s) beginning

before 20077 0 Yes 0 No

If 'Yes , list the years ►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 .) N/A 2bc If the provisions of section 4942 (a)(2) are being applied to any of the years listed in 2a , list the years here

3a Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time

during the year' - - . - -- .. -- 0 Yes OX No

b If 'Yes , did it have excess business holdings in 2007 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 2007) - -- N/A 3b

4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? 4a X

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 eo and before the first da y of the tax year be g innin g 2007? 4b XForm 990-PF (2007)

72354102-20-07


ELSIE & WILLIAM VILES FOUNDATION ,C/O MARK L. JOHNSTON , TREASURER 22-3089641 Pae6

Pwt.VII-0] Statements Regarding Activities for Which Form 4720 May Be Required (continues)5a puring the year did the foundation pay or incur any amount to.

(1) Carry on propaganda, or otherwise attempt to influence legislation ( section 4945 (e))?._ _... ED Yes EX No

(2) Influence the outcome of any specific public election ( see section 4955 ); or to carry on, directly or indirectly,

any voter registration drive? ................. 0 Yes 0 No

(3) Provide a grant to an individual for travel , study , or other similar purposes? Yes OX No

(4) Provide a grant to an organization other than a charitable , etc., organization described in section

509(a )( 1), (2), or ( 3), or section 4940 (d)(2)? . . .. . _ _ _ 1 Yes OX No

(5) Provide for any purpose other than religious , charitable , scientific , literary , or educational purposes, or for

the prevention of cruelty to children or animals? _._ O Yes EX No

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 ) ? N./A 5b

Organizations relying on a current notice regarding disaster assistance check here ►c It the answer is'Yes'to question 5a(4), does the foundation claim exemption from the tax because it maintained

expenditure responsibility for the grant? . N/A _ _ LI Yes No

If "Yes, " attach the statement required by Regulations section 53. 4945-5(07.

6a Did the foundation , during the year , receive any funds , directly or indirectly, to pay premiums on

a personal benefit contract? . .. ...... .... Yes No

b Did the foundation , during the year , pay premiums, directly or indirectly , on a personal benefit contracts 6b X

If you answered "Yes" to 6b, also file Form 8870.

7a At any time during the tax year , was the foundation a party to a prohibited tax shelter transaction? Yes F No

b If yes , did the foundation receive any proceeds or have any net income attributable to the transaction? N/A 7b

P Information About Officers, Directors, Trustees , Foundation Managers , Highly0artVFI! Paid Employees , and Contractors1 List all officers, directors, trustees, foundation managers and their comaensation.

(a) Name and address(b) Title, and average

hours per week devotedto position

(c) Compensation( If not paid ,enter -0

(d; Contibubonsto

QR1^ a d ^'"^de=compensation

(e)Expenseaccount, otherallowances

See Statement 8 0. 0. 0.

C ,omDensauon of rive manesi-oala emorovees Coiner roan tnose Included nn lint- 11. It nnne_ enter "NnNF_°

(a) Name and address of each employee paid more than $50,000(b) Title and average

hours per weekdevoted to position (c) Compensation

(d)Conmbubonstoe"°oyeebenefit laps

co

(e) Expenseaccounf., other

None

Total number of other employees paid over $50 ,000 ► 1 0

Form 990-PF (2007)

72355102-20-08


ELSIE & WILLIAM VILES FOUNDATIONForm990-PF (2007) C/O MARK L. JOHNSTON, TREASURER 22-3089641 Page 7

Information About Officers, Directors , Trustees, Foundation Managers, HighlyPaid Employees, and Contractors (continued)

3 Five highest-paid independent contractors for professional services. 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 receivin g over $50 ,000 for p rofessional services ► 0

Part fX-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 thenumber of organizations and other beneficiaries served, conferences convened , research papers produced, etc Expenses

1 N/A

2

3

4

I Vat'i JA-01 Summary of Proaram-Related InvestmentsDescribe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount

1 N/A

2

All other program - related investments See instructions

3

Total . Add lines 1 through 3 ► 0.

Form 990-PF (2007)

723561o2-20-08

712140820 793251 80830 -223 2007.06010 ELSIE & WILLIAM VILES FOUND 80830-01

ELSIE & WILLIAM VILES FOUNDATIONForm 990-PF (2007 ) C/O MARK L. JOHNSTON, TREASURER 22-3089641 Page8

Pmt f Minimum Investment Return (AII 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 .. .. ... ...... ...... ..... la 430,533.b Average of monthly cash balances ..... ..... ......... ... .. ..... lb 417,908.

c Fair market value of all other assets ..... ...... 1 c

d Total (add lines 1 a, b, and c) l d 8 4 8 , 4 4 1 .

e Reduction claimed for blockage or other factors reported on lines 1a and

is (attach detailed explanation) -. .... 1e 0

2 Acquisition indebtedness applicable to line 1 assets - ....... .... .......... .... .•• . - 2 0 .

3 Subtract line 2 from line l d 3 848 ,441 .4 Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see instructions) 4 12,727 .

5 Net value of noncharitable -use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4 5 835,714 .6 Minimum Investment return . Enter 5% of line 5 6 41 , 786 .

Distributable Amount (see instructions) (Section 4942(j)(3) and (1)(5) private operating foundations and certainforeign organizations check here ► 0 and do not complete this part )

1 Minimum investment return from Part X, line 6 1 41,786 .

2a Tax on investment income for 2007 from Part VI, line 5 2a 234.

b Income tax for 2007 (This does not include the tax from Part VI) 2b

c Add lines 2a and 2b 2c 234 .

3 Distributable amount before adjustments. Subtract line 2c from line 1 3 41, 552 .

4 Recoveries of amounts treated as qualifying distributions 4 0 .

5 Add lines 3 and 4 5 41,552.

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 41, 552 .

Part Xli 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 la 45,248.

b Program-related investments -total from Part IX-8 - - - - - • .... lb 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 la through 3b Enter here and on Part V, line 8, and Part XIII, line 4 4 45,248.5 Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b 5 234.

6 Adjusted qualifying distributions . Subtract line 5 from line 4 6 45, 014.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 (2007)

72357102-20.08


ELSIE & WILLIAM VILES FOUNDATIONForm.990-PF (2007) C/O MARK L. JOHNSTON, TREASURER 22-3089641 Page9

{Y # Undistributed Income (see instructions)

(a) (b) (C) (d)Corpus Years prior to 2006 2006 2007

1 Distributable amount for 2007 from Part XI,

line? .. .. .......... . ...... 41,552.2 Undistnbuted income, if any , as of the end of 2006

a Enter amount for 2006 only .._. _ . 0.

b Total for prior years

0.3 Excess distributions carryover , if any, to 2007:

a From 2002

b From 2003

c From 2004

d From 2005 3,118.

eFrom 2006 .._ 3 , 008.

f Total of lines 3a through e ... . 6,126.

4 Qualifying distributions for 2007 from

PartXll ,line 45 , 248.

a Applied to 2006, 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 2007 distributable amount 41,552.

e Remaining amount distributed out of corpus 3,696.5 Excess distnbutions carryover applied to 2007 0. 0.

of an amount appears in column (d), the same amountmust be shown In column (a) )

6 Enter the net total of each column asindicated below:

a corpus Add lines 3f , 4c, and 4e Subtract line 5 _ 9,822 .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 ofdeficiency has been issued , or on whichthe section 4942 (a) tax has been previouslyassessed _ 0.

d Subtract line 6c from line 6b. Taxable

amount - see instructions 0e Undistributed income for 2006 Subtract line

4a from line 2a . Taxable amount - see instr 0

f Undistributed income for 2007. Subtract

lines 4d and 5 from line 1 This amount must

be distributed in 2008 . . 0

7 Amounts treated as distributions out of

corpus to satisfy requirements imposed by

section 170 ( b)(1)(F) or4942 ( g)(3) 0 .

8 Excess distributions carryover from 2002

not applied on line 5 or line 7 _.. 0 .

9 Excess distributions carryover to 2008.

Subtract lines 7 and 8 from line 6a 9,822 .

10 Analysis of line 9

a Excess from 2003

b Excess from 2004

c Excess from 2005 . 3,118.

III Excess from 2006 3,008.

e Excess from 2007 3 r 696.

Form 990-PF (2007)72358102-20-08


ELSIE & WILLIAM VILES FOUNDATIONForm990-PF 1007 C/O MARK L. JOHNSTON , TREASURER 22-3089641 Page10P XIW Private Operating Foundations (see instructions and Part VII-A, question 9) N/A

. 1a If thetoundation has received a ruling or determination letter that it is a private operating

foundation , and the ruling is effective for 2007, enter the date of the ruling ...... . . . . lo.b Check box to indicate whether the foundation is a p rivate o eratm foundation described in section L 4942 (j)( 3 ) or 4942(i)(5)

2 a Enter the lesser of the adjusted net Tax year Prior 3 years

income from Part I or the minimum ( a) 2007 (b) 2006 ( c) 2005 ( d) 2004 (e) Total

investment return from Part X for

each year listed

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 2c3 Complete 3a , b, or c for the

alternative test relied upona 'Assets' altematnre test - enter:

(1) Value of all assets . .

(2) Value of assets qualifyingunder section 4942 (I)(3)(B)(i)

b 'Endowment' alternative test - enter2/3 of minimum investment returnshown in Part X, line 6 for each yearlisted

c 'Support" alternative test - enter

(1) Total support other than grossinvestment income ( interest,dividends , rents, payments onsecurities loans ( section512(a)(5 )), or royalties)

(2) Support from general publicand 5 or more exemptorganizations as provided insection 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 assetsat any time during the year-see the instructions.)

1 Information Regarding Foundation Managers:

a List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation before the close of any taxyear (but only if they have contributed more than $5 ,000). (See section 507(d)(2) )

ELSIE P. VILES

b List 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 orother entity ) of which the foundation has a 10% or greater interest

None

2 Information Regarding Contribution, Grant, Gift, Loan , Scholarship, etc., Programs:Check here 10, OK if the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds. Ifthe foundation makes gifts , grants , etc (see instructions) to individuals or organizations under other conditions , complete items 2a, b, c, and d.

a The name , address , and telephone number of the person to whom applications should be addressed:

b The form in which applications should be submitted and information and materials they should include

c Any submission deadlines

d Any restrictions or limitations on awards , such as by geographical areas , chantable fields , kinds of institutions , or other factors

723601/02- 20-08 Form 990-PF (2007)10


ELSIE & WILLIAM VILES FOUNDATIONForm '990-PF (2007 ) C/O MARK L. JOHNSTON, TREASURER 22-3089641 PagellI P` XV I Supplementary Information (continued)3 Grants and Contributions Paid Durina the Year or Annrnved fnr Futiirc Pavmc nt

Recipient If recipient is an individual,show any relationship to Foundation Purpose of grant or

Name and address ( home or business) any foundation manager status of contribution Amountor substantial contributor recipient

a Paid during the year

VARIOUSHARITABLE,SCIENTIFIC &EDUCATIONAL

SEE STATEMENT 10 ONE PUBLIC PURPOSES 40,250.

Total ► 3a 40 , 250.b Approved for future payment

None

Total 3b 1 0 .723611/02- 20-08

Form 990-PF (2007)11

09550905 793251 80830 -223 2007 . 06020 ELSIE & WILLIAM VILES FOUND 80830-01

ELSIE & WILLIAM VILES FOUNDATIONForm' 99D-PF (2007) C/O MARK L. JOHNSTON, TREASURER 22-3089641 Page 12

fit[A Analysis of Income-Producing Activities

Enter

1 Pro

a

b

c

d

e

f

92 Me

3 Int

inv

4 Div

5 Net

a

b

6 Net

pro

7 Ot

8 Gal

tha

9 Net

10 Gr

11 Ot

a

b

c

d

e

12 Su

ross amounts unless otherwise indicated Unrelated business income Excluded by section 512 , 513 , or 514 (e).d

gram service revenue :

(a)Businesscode

(b)Amount

Exc„-Sionoode

(d)Amount

Related or exemptfunction income

Fees and contracts from government agencies _

mbership dues and assessments

rest on savings and temporary cash

estments . 14 18,754.idends and interest from securities 14 7,974orental income or (loss ) from real estate

Debt-financed property

Not debt -financed property .... .

rental income or (loss ) from personal

perty

er investment income . ..

n or (loss ) from sales of assets other

ninventory . ... 18 -4,536.

income or ( loss) from special events

ss profit or ( loss) from sales of inventory .

errevenue

btotal. Add columns ( b), (d), and (e) 0. 1 22 , 19 2 .

B

h

t

o

h

0.

13 Total . Add line 12, columns ( b), (d), and (e) 13 22 , 192

(See worksheet in line 13 instructions to verity calculations )

Pqd XVI»B Relationship of Activities to the Accomplishment of Exempt Purposes

Line No . Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of1 the foundation's exempt purposes (other than by providing funds for such purposes)

oz=io oa Form 990-PF (2007)12


ELSIE & WILLIAM VILES FOUNDATIONForm990-PF(2007) C/O MARK L. JOHNSTON, TREASURER 22-3089641 Page 13# XV1C 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) of Yes No

the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

a Transfers from the reporting foundation to a nonchardable exempt organization of:

(1) Cash ......... . . la ( l ) X

(2) Other assets . . . ..... . ..... ........ . ...... ... . . .. . ... La 2 X

b Other transactions:

(1) Sales of assets to a nonchantable exempt organization .., . ...... .. 11:10 ) X

(2) Purchases of assets from a nonchardable exempt organization --- . .. 1 b ( 2 ) X

(3) Rental of facilities, equipment, or other assets .... ..... ...... 1 b 3 X

(4) Reimbursement arrangements - 1b 4 X

(5) Loans or loan guarantees - • - - - - - - 1b 5 X

(6) Performance of services or membership or fundraising solicitations ...- 1 b 6 X

c Sharing of facilities, equipment, mailing lists, other assets, or paid employees - - - - -• . - -- 1 c X

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 ass

or services given by the reporting foundation. If the foundation received less than fair market value in any transaction or sharing arrangement, show in

nnlmmn rd1 the vnliie of the nnnrk nther ascots nr cervlres renehiert

ets,

(a) Name of organization (b) Type of organization (c) Description of relationship

N/A

Under p ties of perjury, I declare that I have exa this return, Including accompanying schedules and statements , and to the best of my knowledge and belief, it is true, correct,

and pl a clarahon of prep (other an er or awry) is based on all information of which preparer has any knowledge

44' Signature of officer or ste^

C y Preparer's

'N 1 signature

a`OC 4) ES, LArds name (oryours BAKER NEWMAN & NOY

C4a I+sat,^r,olo yr . BOX 507addnss,andZiPcode PORTLAND , ME 04112'

72362202-20-08

12140820 793251 80830-223 2007.06010

2a Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations described

in section 501(c) of the Code (other than section 501 (c)(3)) or in section 5272 Yes ® Noh If 'Vne ' nmmnlntn thn fnrlnw,nn cehurl,J.

ELSIE & WILLIAM VILES FOUNDATION C/O MAR 22-3089641

Form 990-PF Gain or (Loss) from Sale of Assets Statement 1

(a)Description of Property

STATEMENT 9

(b) (c)Gross Cost or

Sales Price Other Basis

9,583. 12,009.

(a)Description of Property

STATEMENT 9

(b) (c)Gross Cost or

Sales Price Other Basis

41,351. 49,776 . 0. 0. -8,425.

Capital Gains Dividends from Part IV

Total to Form 990-PF, Part I, line 6a

Manner Date

(d) (e) (f)Expense of

Sale Deprec. Gain or Loss

0. 0. -2,426.

Manner DateAcquired Acquired Date Sold

Purchased Various Various

(d) (e) (f)Expense of

Sale Deprec. Gain or Loss

6,315.

-4,536.

Form 990-PF Legal Fees Statement 2

(a) (b) (c) (d)Expenses Net Invest- Adjusted Charitable

Description Per Books ment Income Net Income Purposes

LEGAL FEES 3,500. 0. 3,500.

To Fm 990-PF, Pg 1, In 16a 3,500. 0. 3,500.

14 Statement(s) 1, 212140820 793251 80830-223 2007.06010 ELSIE & WILLIAM VILES FOUND 80830-01


Form 9~9Q-PF Accounting Fees Statement 3



ACCOUNTING 1,410. 0. 1,410.

To Form 990-PF, Pg 1, In 16b 1,410. 0. 1,410.

Form 990-PF Other Professional Fees Statement 4



INVESTMENT MANAGEMENT FEES 3,303. 3,303. 0.

To Form 990-PF, Pg 1, In 16c 3,303. 3,303. 0.

Form 990-PF Taxes Statement 5



EXCISE TAX 1,187. 0. 0.

To Form 990-PF, Pg 1, In 18 1,187. 0. 0.

Form 990-PF Other Expenses Statement 6



OTHER 88. 0. 88.

To Form 990-PF, Pg 1, In 23 88. 0. 88.

15 Statement(s) 3, 4, 5, 612140820 793251 80830-223 2007.06010 ELSIE & WILLIAM VILES FOUND 80830-01


Form 990-PF Corporate Stock Statement 7

Fair MarketDescription Book Value Value

STOCK

Total to Form 990-PF, Part II, line 10b

378,013 . 368,410.

378,013. 368,410.

Form 990-PF Part VIII -Trustees

Listand

of Officers, DirectorsFoundation Managers

Statement 8

EmployeeTitle and Compen- Ben Plan Expense

Name and Address Avrg Hrs/Wk sation Contrib Account

ELSIE P. VILES PRESIDENT

KENNEBEC SAVINGS BANK PO BOX 50 0.00 0. 0. 0.AUGUSTA, ME 04332

WARREN E. WINSLOW, JR. SECRETARY


MARK JOHNSTON TREASURERKENNEBEC SAVINGS BANK PO BOX 50 0.00 0. 0. 0.AUGUSTA, ME 04332

BERNARD P.SLOFER DIRECTOR


WILL N. LUND DIRECTOR


DANIEL E. WATHEN DIRECTOR


MARY E. CANNING DIRECTORKENNEBEC SAVINGS BANK PO BOX 50 0.00 0. 0. 0.AUGUSTA, ME 04332

PAUL R. ABBEY DIRECTORKENNEBEC SAVINGS BANK PO BOX 50 0.00 0. 0. 0.AUGUSTA, ME 04332

Totals included on 990 -PF, Page 6, Part VIII 0. 0. 0.

16 Statement(s) 7, 812140820 793251 80830-223 2007.06010 ELSIE & WILLIAM VILES FOUND 80830-01

KSB as Agent for Elsie & William Viles Foundation

Trust Category: Agent for Trustee Admin Officer: Amos Byron

Dates Open: 7/18/2005 to Present Invest Officer: Leo A Soucy

Trust Year End: December Tax State: Maine

Date Printed: 08/06/2008 Tax ID: 22-3089641

Capital Gains and Losses

Individual Transactions

Short-Term

DaysDescription of Security Cusip Shares/Par Acquired Date Sold Held Income Principal Cost Basis Gain/Loss

State Street Corp 857477103 100 000000 05/25/2007 08/30/2007 97 0 00 5,97691 -6,74259 -765 68

McGraw-Hill Cos Inc 580645109 75 000000 05/25/2007 09/25/2007 123 0 00 3,60620 -5,26650 -1,66030

Short-Term Total 0 00 9,583.11 -12,00909 -2,425 98

Long-Term

DaysDescription of Security Cusip Shares/Par Acquired Date Sold Held Income Principal Cost Basis Gain/Lost

AMGEN INC 031162100 50 000000 01/09/2006 12/10/2007 700 0 00 2.52628 -3,93500 -1,40872

AMGEN INC 031162100 50 000000 07/29/2005 12/10/2007 864 0 00 2,52627 -4.01400 -1,48773

Danaher Corp 235851102 75 000000 01/09/2006 06/30/2008 903 0 00 5,79071 -4,24200 1,548 71

Forest Labs Inc 345838106 200 000000 07/29/2005 06/30/2008 1,067 0 00 6,98796 -7,99000 -1.00204

Home Depot Inc 437076102 100 000000 09/30/2005 06/30/2008 1,004 0 00 2,35799 -3,82000 -1,46201

Home Depot Inc 437076102 100 000000 05/25/2007 06/30/2008 402 0 00 2,35798 -3,83700 -1,47902

Home Depot Inc 437076102 75 000000 01/09/2006 06/30/2008 903 0 00 1,76849 -3,05850 -1,29001

Illinois Tool Works Inc 452308109 50 000000 05/25/2007 06/30/2008 402 0 00 2,383 98 -2,640 00 -256 02

Staples Inc 855030102 25 000000 07/29/2005 06/30/2008 1,067 0 00 594 30 -572 25 22 05

Staples Inc 855030102 175 000000 05/25/2007 06/30/2008 402 0 00 4,160 07 -4,27525 -115 18

Target Corp 87612E106 100 000000 05/25/2007 06/30/2008 402 0 00 4,67997 -6,05884 -1.37887

BP PLC 055622104 75 000000 09/30/2005 06/30/2008 1,004 0 00 5,21697 -5,33325 -116 28

Long-Term Total 0 00 41,350 97 -49,77609 -8,425 12

Individual Transactions Total 0 00 50,934 08 -61,785 18 -10,851.10

Short Term Capital Gain Allocation

Description of Security Cusip Trade Date Income Principal Gain/Loss Description of Transaction

Goldman Sachs Small Cap Value Fd 38142V209 12/17/2007 453 45 0 00 453 45 Reinvest Short Term Capital Gain#651(mornmgstar rating Allocation, received 12 575 shares

@ 36 059642 on 255 309 shares

Vanguard International Growth Fund 921910204 12/20/2007 465 22 0 00 465 22 Reinvest Short Term Capital Gain#81(mormngstar rating Allocation, received 19 506 shares

@ 23 850097 on 923 069 shares

Vanguard International Value Fund 921939203 12/20/2007 286 48 0 00 286 48 Reinvest Short Term Capital Gain#46(morningstar rating Allocation, received 7 051 shares

@ 40 629698 on 557 355 shares

Vanguard Explorer Fund - Admiral CL Shs 921926200 12/20/2007 22 7 56 0 00 227 56 Reinvest Short Term Capital Gain#5024(morningstar rating Allocation, received 3 534 shares

@ 64 391624 on 156 199 shares

Short Term Capital Gain Allocation Total 1,432.71 0 00 1,43271

Page 1

KSB as Agent for Elsie & William Viles Foundation

Trust Category: Agent for Trustee Admin Officer: Amos Byron

Dates Open: 7/18/2005 to Present Invest Officer: Leo A Soucy

Trust Year End: December Tax State: Maine

Date Printed: 08/06/2008 Tax ID: 22-3089641

Capital Gains and Losses

15% Capital Gain Dividend

Description of Security

Duke Realty Corp (REIT)

Duke Realty Corp (REIT)

Goldman Sachs Small Cap Value Fd#651(mornmgstar rating "')

Vanguard International Growth Fund#81(mormngstar rating "")

Vanguard International Value Fund#46(momingstar rating "")

Vanguard Explorer Fund - Admiral CL Shs#5024(morningstar rating "')

Cusip Trade Date Income Principal Gain/Loss Description of Transaction

264411505 08/31/2007 0 00 21 01 21 01 15% Capital Gain Dividend on 200shares

264411505 11/30/2007 0 00 21 01 21 01 15% Capital Gain Dividend on 200shares

38142V209 12/17/2007 0 00 1,44262 1,442 62 Reinvest 15% Capital GainDividend, received 40 067 shares@ 36 005191 on 255 309 shares

921910204 12/20/2007 0 00 1,57844 1,57844 Reinvest 15% Capital GainDividend, received 66 182 shares@ 23 849989 on 923 069 shares

921939203 12/20/2007 0 00 1,05955 1,05955 Reinvest 15% Capital GainDividend, received 26 078 shares@ 40 630033 on 557 355 shares

921926200 12/20/2007 0 00 758 96 758 96 Reinvest 15% Capital GainDividend, received 11 787 shares@ 64 389582 on 156 199 shares

1 5% Capital Gain Dividend Total 0 00 4,881 59 4,881 59

SiEi^r 9Page 2

Elsie aed William Viles FoundationForm 990-PF, Part XV, line 3

Elsie & William Viles Foundation

Organization

22-30896417/31/08

Amount

Augusta Food Bank $1,000.00

Capital Area Recreation Association $2,000.00

Children's Discovery Museum $500.00

Coastal Maine Botanical Gardens $1,000.00

Colby College - Friends of Art $200.00The Susan L. Curtis Foundation $100.00

Daughters of the American Revolution $500.00

Family Planning Assn. - Margaret Vaughan Fund $200.00

Friends of the Blaine House $1,000.00

Goodwill-Hinckley Home for Boys & Girls $500.00The Jason Program $5,000.00

Kennebec Valley Garden Club $5,000.00

Kennebec Valley Humane Society $5,000.00

KMHA Foundation, Inc. $100.00

The LifeFlight Foundation $100.00

Literacy Volunteers of Augusta $200.00

Maine Greyhound Placement Service $200.00

MaineGeneral Health - Alzheimer's Care Center $500.00

McLaughlin Foundation $100.00

National Multiple Sclerosis Society, Maine Chapter $500.00

New England Wildflower Society $100.00

Old Fort Western Fund $1,000.00

Opportunity Farm for Boys and Girls $250.00

Pine Tree State Arboretum $10,000.00

Portland Museum of Art $100.00

R. Henry Norweb Foundation $500.00

United Society of Shakers $500.00

United Way of Kennebec Valley $600.00

University of Maine (Patch House) $500.00

University of Maine (Viles Family Fund) $3,000.00

TOTAL $40,250.00

STATEMENT 10

Documents

Form'990=PF ReturnofPrivate Foundation 2007990s.foundationcenter.org/990pf_pdf_archive/223/... · 2017-06-20 · ELSIE & WILLIAM VILES FOUNDATION Form-990-PF(2007) C/O MARK L. JOHNSTON,