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
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0.
1
1 , 530 .
350
2 , 205 .
350 000 .
356
352
-254
For Paperwork Reduction Act Notice see the instructions
603056
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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
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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
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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
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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
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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
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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
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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)
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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