Return of Private Foundation 990-PF Form OM B No 1545-0052 Internal Revenue Service Note . The organization may be able to use a copy of this return to satisfy state reporting requirements For calendar year 2003, or tax year beginning , and ends Final return G Check all that apply: Ej Initial return Name of organization Use the IRS Amended return Address change U Employer identification number label . Otherwise, BERKSHIRE FOUNDATION Number and street (or P O box number if mail is not delivered to street address) print or type . P .O . BOX 221432 See Specific ZIP code Instructions City or town, state, and ----- Room/suite (831) 624-8917 D t Foreign organizations, check here Q Foreign organizations meeting the 85% lest, check here and attach computation I Fair market value of all assets at end of year J Accounting method : Ef] Cash [ Accrual (from Part fl, cot (c), line 16) = Other (specify) 104 6 , 387 , 090 . (Part 1, column (d) must be on cash base, Revenue and Expenses Analysis of Part I (a) Revenue and (b) Net investment (rne total of amounts in columns (b), (c), and (d) may not expenses per books income necessarily equal the amounts in column (a)) 1 N 2 1r__ 3 p /-U'f .70 /1V B Telephone number If exemption application is pending, check here H Check type of organization: LXJ Section 501(c)(3) exempt private foundation Section 4947(a)(1) nonexempt charitable trust 0 Other taxable private foundation ,z--? , 10 , E If private foundation status was terminated under section 507(b)(1)(A), check here F If the foundation is in a 60-month termination under section 507 ( b )( 1 ) B check here (d) Disbursements for charitable purposes (cash basis only) (C) Adjusted net income Contributions, gifts, grants, etc ., received Check 0- [Y] II the foundation is not required to attach ScA B Distributions from split-interest trusts Statement 2 Interest on savings and temporary cash investments 4 Dividends and interest from securities 5a Gross rents b (Nat rental income or (loss) 6a C~%D 2003 or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation DeparlmenYOf the Treasury Ll_,y line 10 328 , 097 assets on line Be d 101 .602 . Net gain or (loss) from sale of assets not on b Gross sales price for all Statement 1 . Capital gain net income (from Part IV, line 2) Q 8 Net short-term capital gain 65 9 Income modifications Gross sales less returns and allowances b Less Cost of goods sold 11 12 c Gross profit or (loss) Other income Total . Add lines 1 through 11 13 14 Other employee salai yes and why 15 y 1 W Pens oi~pla+i s-ei }i tai e it ~p~ ref, ts LegalE } Ac ountlh`gJees f~ ~~~~mt ~ ~tI r professional e > 17 Iqe~~~ 18 laxs, 19 E a a Im 5 m a 0 102,321 . Compensation of officers, directors, trustees, etc 20 21 22 23 24 25 26 27 epreci ti c~ ~Qe'pl~~on" ' St t 4 Travel, conferences, and meetings Printing and publications Other expenses Stmt Total operating and administrative expenses Add lines 13 through 23 Contributions, gifts, grants paid Total expenses and disbursements Add lines 24 and 25 - 3 5 Subtract line 26 from line 12' 8 Excess of revenue over expenses and disbursements 323501 ,_ os 03 09350211 I_HA 0424500 675 . 0. 1 1 , 530 . 350 2 , 205 . 350 000 . 356 352 -254 For Paperwork Reduction Act Notice see the instructions 603056 -- 4,057 . b Net investment income (if negative enter -o-) c Ad justed net income (if ,_9~~~ve, enter -o-) ------ 298 , 825_. N A- 1 2003 .04000 BERKSHIRE FOUNDATION ---- 205 . - - - -Form 990-PF (7_003) 04245001 Form 990-PF (2003) Part II BERKSHIRE FOUNDATION Beginning of year Matched schedulesandamountsinlheaescription Balance Sheets column should be far end-of-year amounts only (a) Book Value Cash - non-interest-bearing 1 Savings and temporary cash investments 2 77-0438710 End of year Book Value 17 391 . 50 .950 . Page 2 (c) Fair Market Value 17 , 391 . 50 .950 . 3 Accounts receivable Less : allowance for doubtful accounts 10, Pledges receivable 00, 4 Less : allowance for doubtful accounts 00, 5 Grants receivable 6 Receivables due from officers, directors, trustees, and other disqualified persons 7 Other notes and loans receivable 1 Less : allowance for doubtful accounts y .. N N Q 8 Inventories for sale or use 9 Prepaid expenses and deferred charges 10a Investments - U.S . and state government obligations b Investments - corporate stock 11 y v Stmt c Investments - corporate bonds investments -land, buildings, and equipment basis 111111. Less accumulated depreciation 11111. 12 Investments - mortgage loans 13 Investments - other 14 Land, buildings, and equipment: basis " less accumulated deDreciatlon Stmt 7 5 , 46 5,46 0- 15 Other assets (describe 17 18 19 Accounts payable and accrued expenses Grants payable Deferred revenue 20 Loans from officers . directors, trustees, and other disqualified persons 21 '' 22 23 N °' 24 25 A m 26 v U y 27 ,°'n 28 N a 29 °' 30 z 1 31 2,652,745 6 87 .090 . Mortgages and other notes payable Other liabilities (describe " ) Total liabilities add lines 17 throw h 22 Organizations that follow SFAS 117, check here and complete lines 24 through 26 and lines 30 and 31 Unrestricted Temporarily iesliicled Permanently restricted Organizations that do not follow SFAS 117, check here and complete lines 27 through 31 Capital stock, trust principal, or current funds Paid-in or capital surplus, or land, bldg ., and equipment fund Retained earnings, accumulated income, endowment, or other funds Total net assets or fund balances Total liabilities and net assets/fund balances Part III 2 .749 .254 . I 21 Analysis of Changes in Net Assets or Fund Balances 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) 2 Enter amount from Part I, line 27a 3 Other increases not included m line 2 (itemize) 4 Add lines 1, 2, and 3 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 II, column (b), line 30 1 323511 t^ OS-03 09350211 603056 0424500 2 2003 .04000 BERKSHIRE FOUNDATION 2,494,591 . 0 . 2,494,591 . Fuim 990-PF (2003) 04245001 I Form 990-PF (2003) BERKSHIRE FOUNDATION 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, 2-story brick warehouse; or common stock, 200 shs MLC Co 1 1a 3 SHS BERKSHIRE HATHAWAY b 3 .508 SHS TORCHMARK CORP (f) Depreciation allowed (or allowable) (e) Gross sales price 3 (b How ac" ~ - Purcha D - Donatic D D (c) Date acquired (mo ., day, yr .) (d) Date sold (mo , day, yr.) 11/06/96 03/14/03 (g) Cost or other basis plus expense of sale (h) Gain or (loss) (e) plus (f) minus (g) 126 . 29,178 . c omplete only for assets in column (h) and owned by the foundation on 12/31/69 (j) Adjusted bass as of 12/31/69 (i) F .M .V. as of 12/31/69 (I) Gains (Col . (h) gain minus col. (k), but not less than -0-) or Losses (from col. (h)) (k) Excess of col . (i) over col . (j), if any 204 .69 d If gain, also enter in Part I, line 7 ~ If (loss), enter -0- in Part I, line 7 ~ 2 Capital 9gain net income or C net capital loss). 3 2 2 9 8 , 793 . Net short-term capital gain or (loss) as defined in sections 1222(5) and (6) : Ii gain, also enter in Part I, line 8, column (c) . If (loss), enter -0- m Part I, line 8 ) 3 L Part V I Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income N/A (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. ~ Yes ~X] No Was the organization liable (or the section 4942 tax on the distnbutable amount of any year in the base penod9 If 'Yes,'the organization does not qualify under section 4940(e) . Do not complete this part 1 Enter the appropriate amount m each column for each year ; see instructions before making any entries. Base peraod years Calendar ear or tax ear be innin in (~) Net value of noncharitable-use assets (b) Adjusted qualifying distributions 2002 200 2000 1999 1998 348 125 285,1 61 226 812 317 115 337 .784 . . . . . 5 , 714 , 770 5, 74G, 954 4 ,980,548 5 , 728 , 207 5 .432,970 Distribution ratio (cot ( b) divided by cot (c)) .0609167 .0496195 .04 55396 .0553603 . . . . . 2 3 Total of line 1, column (d) Average distribution ratio for the 5-year base period - divide the total on line 2 by 5, or by the number of years the foundation has been in existence if less than 5 years 2 .273609 3 .054721 4 Enter the net value of nonchantable-use assets for 2003 from Part X, line 5 4 5 Multipl y line 4 b y line 3 5 6 Enter 1% of net investment income (1% of Part I, tine 27b) 7 6 Add tines 5 and 6 8 Enter qualifying distributions from Part XII, line 4 It tine R is equal to or greater than tine 7, check the hox m Part VI, tine 1h, and complete that part using a 1% fax rate See the fSri VI instructions 3^,52 ,112' 05 01 09350211 603056 0424500 02 .579 . 2003 .04000 3 BERKSHIRE FOUNDATION 7 305,567 . 8 352,205 . Form 990-PF (?0n3) 04245001 Form 990-PF (2003) BERKSHIRE FOUNDATION Part VI Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), 1a Exempt operating foundations described in section 4940(4)(2), check here 1 [L] and enter "N/A" on line 1 . or 4948 - see (attach copy of ruling letter if necessary-see instructions) Date of ruling letter : b Domestic organizations that meet the section 4940(e) requirements in Part V, check here " [11 and enter 1% of Part 1, line 27b c All other domestic organizations enter 2% of line 27b . Exempt foreign organizations enter 4% of Part I, line 12, col. (b) 2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only . Others enter -0-) 2,988 . 88 . 3 Add lines 1 and 2 4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only . Others enter -0-) 5 Tax based on investment income . Subtract line 4 from line 3 . If zero or less, enter -06 Credits/Payments : 6a a 2003 estimated tax payments and 2002 overpayment credited to 2003 6b b Exempt foreign organizations - tax withheld at source 6c c Tax paid with application for extension of time to file (Form 8868) 6d d Backup withholding erroneously withheld Total credits and payments. Add lines 6a through 6d Enter any penalty for underpayment of estimated tax. Check here E] if Form 2220 is attached Tax due If the total of lines 5 and 8 is more than line 7, enter amount owed Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid Enter the amount of line 10 to be: Credited to 2004 estimated tax 7 8 9 10 11 Part VII-A Statements Regarding Activities Refunded 1a During the tax year, did the organization attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaigns b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition)? 11 the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials published or distributed by the organization in connection with the activities c Did the organization file Form 1120-POL for this years d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year . 0 . 0 . (2) On organization managers. " $ (1) On the organization. " $ on organization any) the organization during the year for political expenditure tax imposed e Enter the reimbursement (if paid by managers. " $ 0 Has the organization engaged in any activities that have not previously been reported to the IRS If "Yes." attach a detailed description of the activities 3 Has the organization made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments? 11 "Yes," attach a conformed copy of the changes 4a Did the organization have unrelated business gross income of $1,000 or more during the years N/A b If "Yes ; has it filed a tax return on Form 990-T for this years 2 5 Was these a liquidation, termination, dissolution, or substantial contraction during the years 6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either: YeS No 1a 1b X X 1c X 2 X 3 4a 4b X 5 X X If "Yes," attach the statement requited by General Instiucbon T " 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? Did the organization have at least $5,000 in assets at any time during the years 7 6 X 7 X 8b X 11 "Yes," complete Part 1l, co/ (c), and Part XV 8a Enter the states to which the foundation reports or with which it is registered (see instructions) CALIFORNIA b If the answer is "Yes" to line 7, has the organization 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 9 10 11 Is the organization claming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2003 or the taxable year beginning m 2003 (see instructions for Part XIV)? If "Yes," complete Part XIV Did any persons become substantial contributors during the tax years I, "Yes," attach a schedule listing their names and addresses N/A 12 The books are in care of 1 ROBERTA BUFFETT BIALEK Located at " P . O . BOX 221432, CARMEL, CALIFORNIA 13 11 Did the organization comply with the public inspection requirements for its annual returns and exemption apphcation9 Web site address " 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 mteiest received or accrued during the year 323591 t_ OS 03 09350211 603056 0424500 2003 .04000 9 10 X Telephone no.1 ( 831 ) -624- 8 917 ZIP+4 93 9 22 00- 1 4 BERKSHIRE FOUNDATION 13 ~ N/A 10 Form 990-PF (2003) 04245001 Form 990-PF (2003) BERKSHIRE FOUNDATION Part VII-B Statements Regarding Activities for Which Form 4720 May Be Required File Form 4720 if any item is checked in the "Yes" column, unless an exception applies. 1a During the year did the organization (either directly or indirectly) : (1) Engage in the sale or exchange, or leasing of property with a disqualified persons (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified persons (3) Furnish goods, services, or facilities to (or accept them from) a disqualified persons (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified persons (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) (6) Agree to pay money or property to a government officials (Exception Check "No" if the organization agreed to make a grant to or to employ the official for a period after termination of government service, if terminating within 90 days.) b If any answer is -Yes* to 1a(1)-(6), did any of the acts fad to qualify under the exceptions described m Regulations section 53 .4941(4)-3 or in a current notice regarding disaster assistance (see page 19 of the instructions) Y2S NO ~ Yes ~ No 0 Yes ~ No D Yes ~ No ~ Yes ~ No 0 Yes EY] No ~ Yes Ell No N/A 1D Organizations relying on a current notice regarding disaster assistance check here c Did the organization 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 2003 Taxes on failure to distribute income (section 4942) (does not apply for years the organization was a private operating foundation defined in section 4942(j)(3) or 4942(j)(5)) : a At the end of tax year 2003, did the organization have any undistributed income (lines 6d and 6e, Part XIII) for tax year(s) beginning 0 Yes Eil No before 2003 If "Yes,* list the years b Are there any years listed in 2a for which the organization 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.) c If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here. 1b is N/A 2b 3a Did the organization hold more than a 2% direct or indirect interest in any business enterprise at any time during the years o Yes Ell No organization or disqualified persons after holdings in 2003 as a result of (1) any purchase by the b If 'Yes," did it have excess business the Commissioner under section 4943(c)(7)) to dispose May 26, 1969 ; (2) the lapse of the 5-year period (or longer period approved by of holdings acquired by gift or bequest ; or (3) the lapse of the 10-, 15-, or 20-year (first phase holding periods (Use Schedule C, N/A Form 4720, to determine if the organization had excess business holdings in 2003) its charitable purposes 4a Did the organization invest during the year any amount in a manner that would jeopardize b Did the organization make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2003 5a During the year did the organization pay or incur any amount lo : (t) Carry on pioudyaiida, ur olherwise attempt to mlluence legislation (section 4945(e))? (2) Influence the outcome of any specific public election (see section 4955) ; or to carry on, directly or indirectly, any voter registration drive? (3) Provide a grant to an individual for travel, study, or other similar purposes (4) Provide a grant to an organization other than a charitable, etc ., organization described in section Page s 77-0438710 3b 4a X 4b X 6b X El Yes ~ No 0 Yes ~ No 0 Yes [i] No D Yes ~ No 509(a)(1), (2), or (3), or section 4940(d)(2)? (5) Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for D Yes Eil No the prevention of cruelty to children or animals b If any answer is "Yes' to 5a( t )-(5), did any of the transactions (ad to qualify under the exceptions described in Regulations N/A section 53 .4945 or m a current nonce regarding disaster assistance (see instructions) 10 Organizations relying on a current notice regarding disaster assistance check here c If the answer is "Yes' to question 5a(4), does the organization claim exemption from the tax because it maintained N/A Yes 0 No expenditure responsibility for the grants If "Yes, " attach the statement required by Regulations section 53 4945-5(d) 6a Did the organization, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract b Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contracts 1/ you answered "Yes" to 6b, also file Form 8870 323541 12-0S 03 09350211 603056 0424500 5 Yes [2:1 No 2003 .04000 BERKSHIRE FOUNDATION Form 990-PF (2003) 04245001 77-0438710 BERKSHIRE FOUNDATION Foundation Managers, Highly Information About Officers, Directors, Trustees, Part VIII 0 Paid Employees, and Contractors List all officers, directors, trustees, foundation managers and their compensation : (b) Title, and average hours per week devoted (a) Name and address po position BIALEK PRESIDENT ROBERTA BUFFETT 1 (c) Compensation (If not aid, enterp0- (dContributions to employee benefit plans comoeo~uieon Page s (e) Expense account, other allowances P .O . BOX 221432 ECRETARY/TR SURER .. IRECTOR A S . DIRECTOR CAROLYN B . AKCAN P .O . BOX 221432 0 . 0. CARMEL CALIFORNIA 0. 2 Compensation of five highest-paid employees (other than those included on line 1) . If none, enter "NONE." (a) Name and address of each employee paid more than $50,000 (b) Title and average hours per week devoted to position Total number of other employees paid over $50,000 3 Five highest-paid independent contractors for processional services . If none, enter "NONE ." (a) Name and address of each person paid more than $50,000 (c) Compensation 0. 0. (d~ comr~nuuons is emp ogee oene~~~ oians deferred coma (e) Expense account, other allowances 01. (c) Compensation (b) Type of service Total number of others receiving over $50,000 for professional services Part IX-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 the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc . i ., . 11110. Expenses N/A 2 3 4 33551 1: OS-03 09350211 603056 0424500 6 2003 .04000 BERKSHIRE FOUNDATION Form 990-PF (2003) 04245001 Form 990-PF (2003) BERKSHIRE FOUNDATION Page ? 77-0438710 Part IX-B Summary of Program-Related Investments Describe the two largest program-related investments made by the foundation the tax year on lines 1 and 2 Amount 2 All other program-related investments . See instructions. 3 Total . Add lines 1 through 3 Minimum Investment Return (All domestic foundations must complete this part Foreign foundations, see instructions) Part X 1 a b c d e 1111. Fair market value of assets not used (or held for use) directly in carrying out charitable, etc ., purposes: Average monthly fair market value of securities Average of monthly cash balances Fair market value of all other assets 5 .522 Total (add lines la, b, and c) Reduction claimed for blockage or other factors reported on lines 1a and 1c (attach detailed explanation) 1e 0. 2 Acquisition indebtedness applicable to line 1 assets 3 Subtract line 2 from line 1d 4 Cash deemed held for charitable activities . Enter 1 1/2% of line 3 (for greater amount, see instructions) 5 Net value of noncharitable-use assets Subtract line 4 from line 3 . Enter here and on Part V, line 4 6 Minimum investment return Enter 5% of line 5 DiStributable Amount (see instructions) (Section 4942(j)(3) and (1)(5) private operating foundations and certain PBYt XI foreign organizations check here 1 0 and do not complete this part.) 1 2a b c 3 4a b c 5 g 7 Minimum investment return from Part X, line 6 Tax on investment income (or 2003 from Part VI, line 5 Income tax for 2003 . (This does not include the tax from Part VI .) 2a 26 Add lines 2a and 2b Distributable amount before adjustments . Subtract line 2c from line 1 Recoveries of amounts treated as qualifying distributions 4a Income distributions from section 4947(a)(2) trusts 4b Add lines 4a and 4b Add lines 3 and 4c Deduction from distributable amount (see instructions) Distributable amount as adjusted . Subtract line 6 from line 5. Enter here and on Part XIII, line 1 Part XII 1 2 , 988 . 2c 0 . 0 . 3 4c 5 6 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 b Program-related investments - Total from Part IX-B 2 Amounts paid to acquire assets used (or held for use) directly m carrying out charitable, etc ., purposes 3 Amounts set aside for specific charitable projects that satisfy the. a Suitability test (prior IRS approval required) b Cash distribution test (attach the required schedule) 4 Qualifying distributions . Add lines 1a through 3b . Enter here and on Part V, line 8, and Part XIII, line 4 5 Organizations that qualify under section 4940(e) for the reduced rate of tax on net investment 6 84 .204 . 1a tb 2 352 ,205 . 0 . 3a 3b 4 352 , 205 . income Enter 1% of Part I, line 27b 5 2 , 988 . Adjusted qualifying distributions Subtract line 5 from line 4 6 349 , 217 . Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualities for the section 4940(e) reduction of tax in those years Form 990-PF (2003) 323501 1 :-OS-03 09350211 603056 0424500 7 2003 .04000 BERKSHIRE FOUNDATION 04245001 Form 990-PF (2003) Part XIII BERKSHIRE FOUNDATION 77-0438710 Undistributed Income (see instructions) (a) Corpus (b) Years prior to 2002 (c) 2002 Distributable amount for 2003 (ram Part XI, line 7 2 Undistributed income, if any, as of the end of 2002 a Enter amount (or 2002 only b Total for prior years : (d) 2003 1 3 273 , 482 . 0 . 0 . Excess distributions carryover, if any, ~to 2003 : a From 1998 74 , 995 b From 1999 35 , 443 c From 2000 d From 2001 1 , 459 e From 2002 68 , 260 f Total of lines 3a through e 4 Qualifying distributions for 2003 from Part x11, pine 4 : t $ 352 , 205 a Applied to 2002, but not more than line 2a b Applied to undistributed income of prior years (Election required - see instructions) . . . . 180 , 157 . . 0. 0. c Treated as distributions out of corpus (Election required - see instructions) d Applied to 2003 distributable amount 0 . e Remaining amount distributed out of corpus 5 Excess distributions carryover applied to 2003 (II an amount appears in column (d), the same amount must be shown in column (a) ) 6 Enter the net total of each column as indicated below : 273 , 482 . 78 , 723 . 0 . 8 Corpus Add lines 3f, 4c, and 4e Subtract line 5 b Prior years' undistributed income. Subtract line 4b tram line 2b c Enter the amount of prior years' undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed 7 0 . 258 , 880 . 0 . 0 . d Subtract line 6c from line 6b . Taxable dniount - see instructions e Undistributed income for 2002 . Subtract line 4a from line 2a . Taxable amount - see instr. f Undistributed income for 2003 . Subtract lines 4d and 5 from line 1 . This amount must be distributed in 2004 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(E) or 4942(8)(3) 8 Excess distributions carryover from 1998 not applied on line 5 or line 7 9 Excess distributions carryover to 2004 . Subtract lines 7 and 8 from line 6a 10 Analysis of line 9 : a Excess from 1999 35 , 443 b Excess from 2000 c Excess from 2001 1 459 d Excess from 2002 68 , 260 e Excess from 2003 78 , 723 0 . 0 . 0. 0. 74 , 99 5 . 18 3 885. . . . . Form 990-PF (2003) 323571 72-05 07 09350211 Page e 603056 0424500 2003 .04000 O BERKSHIRE FOUNDATION 04245001 Form 990-PF 2003 Part XIV Private Page 9 Foundations (see instructions and Part VII A, question 9) 1 a Ii the foundation has received a ruling or determination letter that it is a private operating foundation, and the ruling is effective for 2003, enter the date of the ruling b Check box to indicate whether the organization is a p rivate o p era tin foundation describE 2 a Enter the lesser of the adjusted net Tax year (a) 2003 (b) 2002 income from Part I or the minimum Prior 3 yea (c12001 1or d) 2000 0 49420)(5) (e) Total investment return from Part X (or 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 . 3 Subtract line 2d from line 2c Complete 3a, b, or c for the alternative test relied upon : a "Assets" alternative test - enter : (1) Value of all assets (2) Value of assets qualifying under section 4942(j)(3)(B)(i) b "Endowment alternative test - Enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed c "Support alternative test - enter: (1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) (2) Support from general public and 5 or more exempt organizations as provided m section 4942(1)(3)(B)(ni) (3) Largest amount of support from an exempt organization Part XV I Supplementary Information (Complete this part only if the of at any time during the year-see page 25 of the instructions .) or more in assets 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 tax year (but only d they have contributed more than $5,000). (See section 507(4)(2) ) ROBERTA BUFFETT BIALEK 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 or other entity) of which the foundation has a 10% or greater interest. 2 Information Regarding Contribution, Grant, Gin, Loan, Scholarship, etc ., Programs : Check here " FXI if the organization only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds . I( the organization 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 m 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, charitable fields, kinds of institutions, or other (actors 12 5A1 /o1 -a0-04 09350211 603056 0424500 9 2003 .04000 BERKSHIRE FOUNDATION Fnrm 990-PF (2003) 04245001 i Form 990-PF(2003) BERKSHIRE FOUNDATION Part XV Supplementary Information (continued) 3 77-04 Grants and Contributions Paid During the Year or Approved for Future Payment If recipient is an individual, Recipient Foundation show any relationship to status of any foundation manager Name and address (home or business) recipient or substantial contributor Purpose of grant or contribution 710 1 Amount a Paid during the year CENTER FOR REPRODUCTIVE LAW AND POLICY ONE CSUMB FOUNDATION INTERIM, PUBLIC CHARITY GENERAL OPERATING SUPPORT PUBLIC CHARITY SCIENCE & MATH OUTREACH RETENTION PROJECT ONE INC . ONE MONTEREY BAY AQUARIUM ONE MONTEREY SYMPHONY - PACIFIC REPERTORY THEATRE SAN FRANCISCO OPERA ONE ONE ONE 25,000 . 100,000 . PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000 . PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000 . PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000 . PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000 . PUBLIC CHARITY ENERAL PERATING SUPPORT 100,000 . 3a Tutal b Approved (or future payment None - --- Total 323601/12-05-03 09350211 - 603056 - - -- - 0424500 - - 0- 3b-l----- o -- 10 2003 .04000 BERKSHIRE FOUNDATION Form 990-PF (2003) 04245001 Form 990-PF(2003) Part XVI-A 77-0438710 BERKSHIRE FOUNDATION Pagett Analysis of Income-Producing Activities Enter gross amounts unless otherwise indicated 1 Program service revenue . a b Excluded b section 512 , 513 , « 514 unreiaiea ousiness income (a) (b) Business Amount code E~~ r . S'°" code (d) Amount Related or exempt function income c d e f p Fees and contracts from government agencies 2 Membership dues and assessments 3 Interest on savings and temporary cash investments 4 Dividends and interest from securities 14 719 . than inventory 9 Net income or (loss) from special events 18 101 , 602 . 5 Net rental income or (loss) from real estate : a Debt-financed property b Not debt-(financed property 6 Net rental income or (loss) from personal property 7 Other investment income 8 Gain or (lass) from sales of assets other 10 Gross profit or (loss) from sales of inventory 11 Other revenue : a b c d e 12 Subtotal . Add columns (b), (d), and (e) 0. 13 Total Add line 12, columns (b), (d), and (e) (See worksheet in brie 13 instructions to verify calculations .) Part XVI-B Line No . 13 0. 102,321 . Relationship of Activities to the Accomplishment of Exempt Purposes Explaui below how each a(, hviry fur which income is reported m column (e) of Part XVI-A contributed importantly to the accomplishment of the organization's exempt purposes (other than by providing funds for such purposes) 323011 t ^ OS 09 09350211 102,321 . 603056 0424500 2003 .04000 11 BERKSHIRE FOUNDATION Fnrm 990-PF (2003) 04245001 77-0438710 Form 990-PF (2003) BERKSHIRE FOUNDATION Page 12 Transfers and Relationships With Noncharitable Ltart XVII J' information Regarding To and Transactions Exempt Organizations Yes No 1 Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations? a Transfers from the reporting organization to a nonchantable exempt organization of : (1) Cash (2) Other assets b Other transactions : (1) Sales of assets to a noncharitable exempt organization (2) Purchases of assets from a noncharitable exempt organization (3) (4) (6) (6) la(l) X la(2) X lb(l) lb(2)1 lb(3) lb(4) lb(5) X X X X X X Rental of facilities, equipment, or other assets Reimbursement arrangements Loans or loan guarantees Performance of services or membership or fundraising solicitations lb(6) equipment, mailing lists, other assets, or paid employees X c Sharing of facilities, 11; "Yes,' complete the following schedule (b) should always show the fair market value of the goods, other assets, d If the answer to any of the above is . Column or services given by the reporting organization . If the organization received less than fair market value in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received . (c) Name of nonchantable exempt organization (d) Description of transfers, transactions, and sharing arrangements Line no .1 (b) Amount involved (a) I N/A 2a Is the organization 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 527? Yes the following schedule . b If"Yes,' complete (a) Name of organization (b) Type of organization (c) Descripl ;on of relationship N/A Under penalties of perjury I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete Declaration of prepater (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledqe SigOgure of officer or trus)ee Preparer's ~O M CL a) Firm s name (or yours if self-employed), a _JA J-A'a4i OTTER GREEN CPA ANS07 P 0 BOX 4056 ~CARMEL BY THE SEA CA 93 32382 1 .'-05-03 1 09350211 603056 0424500 2003 .04000 [K] No 2003 DEPRECIATION AND AMORTIZATION REPORT Form 990-PF Asset No Description 1ORGANIZATIONAL COSTS * Total 990-PF Pig 1 Depr & Amort 328102 3~-01-03 Date Acquired 110696 Method Page Life 60M 990-PF 1 Line No 43 Unadjusted Cost Or Basis Bus % Excl Reductionln Basis 5,461 . 5,461 . (D) - Asset disposed 13 0. Basis For Depreciation Accumulated Depreciation 5,461 . 5,461 . 5,461 . 5,461 . Current Sec 179 Amount Of Depreciation 0. 0. ITC, Section 179, Salvage, HR 3090, Commercial Revitalization Deduction 0. 77-0438710 'BERKSHIRE FOUNDATION Gain or Form 99D-PF (Loss) from Sale of Assets Statement 1 (a) Description of Property Manner Acquired Date Acquired Date Sold 3 SHS BERKSHIRE HATHAWAY Donated 11/06/96 03/14/03 (b) Gross Sales Price (c) Value at Time of Acq . 204,819 . (d) Expense of Sale 97,050 . (e) (f) Deprec . 0 . Gain or Loss 107,769 . 0. (a) Description of Property Manner Acquired Date Acquired Date Sold 3,508 SHS TORCHMARK CORP Donated 11/06/96 03/14/03 (b) Gross Sales Price (c) Value at Time of Acq . 123,278 . (d) Expense of Sale 129,445 . 0. (e) (f) Deprec . Gain or Loss 0 . -6,167 . 0. Capital Gains Dividends from Part IV Total to Form 990-PF, Part I, Form 990-PF 101,602 . line 6a Interest on Savings and Temporary Cash Investments Statement 2 Amount Source 719 . WELLS FARGO BANK line 3, 09350211 14 Statement(s) 1, 2 2003 .04000 BERKSHIRE FOUNDATION 04245001 603056 0424500 Column A 719 . Total to Form 990-PF, Part I, ~ ~ 1 77-0438710 BERK8HIRE FOUNDATION Accounting Fees Form 99.0-PF Statement 3 0 (a) Expenses Per Books Description ACCOUNTING To Form 990-PF, Pg 1, ln 16b Form 990-PF Pg 1, ln 18 Form 990-PF 675 . 675 . 1,350 . 675 . 675 . Statement (b) Net Investment Income Pg 1, ln 23 Form 990-PF 0. 0. 4,057 . 0 . 0. Statement (b) InvestNet ment Income 1,518 . 24 . 35 . 0. 12 . 0. 1,518 . 12 . 0. 1,577 . 12 . 1,530 . Statement Book Value BERKSHIRE HATHAWAY INC TORCHMARK CORP 09350211 603056 0424500 II, 5 (d) Charitable Purposes (c) Adjusted Net Income Corporate Stock Part (d) Charitable Purposes (c) Adjusted Net Income 0 . 0 . Description Total to Form 990-PF, 4 1,097 . 2,960 . (a) Expenses Per Books INSURANCE MISCELLANEOUS FILING FEES To Form 990-PF, Net Income Other Expenses Description (d) Charitable Purposes 1,350 . (a) Expenses Per Books IRS BALANCE DUE IRS ESTIMATES To Form 990-PF, (c) Adjusted Taxes Description 2002 2003 (b) Net Investment Income line 10b 6 Fair Market Value 2,426,250 . 0 . 6,318,749 . 0 . 2,426,250 . 6,318,749 . 15 Statement(s) 2003 .04000 BERKSHIRE FOUNDATION 3, 4, 5, 6 04245001 1 77-0438710 -BERK8HIRE FOUNDATION Form 99.0-PF Depreciation of Assets Not Held for Investment Cost or Other Basis Description Accumulated Depreciation Statement 7 Book Value ORGANIZATIONAL COSTS 5,461 . 5,461 . 0. Total To Fm 990-PF, Part II, ln 14 5,461 . 5,461 . 0. 09350211 603056 0424500 16 2003 .04000 BERKSHIRE FOUNDATION Statement(s) 7 04245001