Form990-PF
Click to see list of attachments

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 01-01-2014 , and ending 12-31-2014
Name of foundation
BRYAN MEMORIAL GALLERY FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 340
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
JEFFERSONVILLE, VT05464
A Employer identification number

03-0287574
B Telephone number (see instructions)

(802) 644-5100
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$7,796,678J Accounting method:

(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 44,134
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 8 8 8
4 Dividends and interest from securities... 826 826 826
5a Gross rents............
b Net rental income or (loss)
6a Net gain or (loss) from sale of assets not on line 10 1,977
b Gross sales price for all assets on line 6a 4,231
7 Capital gain net income (from Part IV, line 2)... 1,977
8 Net short-term capital gain.........
9 Income modifications...........
10a Gross sales less returns and allowances 137,293
b Less: Cost of goods sold.... 75,342
c Gross profit or (loss) (attach schedule)..... Click to see attachment 61,951 61,951
11 Other income (attach schedule)....... Click to see attachment 57,740
12 Total. Add lines 1 through 11........ 166,636 2,811 62,785
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 51,187 51,187
14 Other employee salaries and wages...... 44,375 4,067 40,670
15 Pension plans, employee benefits.......
16a Legal fees (attach schedule).........
b Accounting fees (attach schedule)....... Click to see attachment 1,935 1,935 1,935
c Other professional fees (attach schedule).... Click to see attachment 9,262 9,262 9,262
17 Interest............... 144 144 144
18 Taxes (attach schedule) (see instructions)... Click to see attachment 8,710 56 7,789 8,710
19 Depreciation (attach schedule) and depletion... Click to see attachment 7,281 7,281
20 Occupancy.............. 16,586 15,463 16,586
21 Travel, conferences, and meetings.......
22 Printing and publications..........
23 Other expenses (attach schedule)....... Click to see list of attachments 36,003 1,100 32,637 36,003
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 175,483 1,156 78,578 164,497
25 Contributions, gifts, grants paid....... 2,500 2,500
26 Total expenses and disbursements. Add lines 24 and 25 177,983 1,156 78,578 166,997
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -11,347
b Net investment income (if negative, enter -0-) 1,655
c Adjusted net income (if negative, enter -0-)...
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cashnon-interest-bearing............. 6,505 20,508 20,508
2 Savings and temporary cash investments......... 7,460 5,610 5,610
3 Accounts receivable bullet
Less: allowance for doubtful accounts bullet
4 Pledges receivable bullet
Less: allowance for doubtful accounts bullet
5 Grants receivable.................
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....
7 Other notes and loans receivable (attach schedule) bullet
Less: allowance for doubtful accounts bullet
8 Inventories for sale or use.............. 1,473,181 1,423,538 2,462,365
9 Prepaid expenses and deferred charges.......... 6,035 6,035
10a InvestmentsU.S. and state government obligations (attach schedule)
b Investmentscorporate stock (attach schedule)....... 58,753 60,856 60,856
c Investmentscorporate bonds (attach schedule).......
11 Investmentsland, buildings, and equipment: basis bullet
Less: accumulated depreciation (attach schedule) bullet
12 Investmentsmortgage loans.............
13 Investmentsother (attach schedule)..........
14 Land, buildings, and equipment: basis bullet550,311
Less: accumulated depreciation (attach schedule) bullet380,384 177,208 Click to see attachment169,927 603,094
15 Other assets (describe bullet) Click to see attachment3,292,739 Click to see attachment3,314,596 Click to see attachment4,638,210
16 Total assets (to be completed by all filerssee the
instructions. Also, see page 1, item I) 5,015,846 5,001,070 7,796,678
Liabilities 17 Accounts payable and accrued expenses..........
18 Grants payable..................
19 Deferred revenue................. 5,500 23,925
20 Loans from officers, directors, trustees, and other disqualified persons
21 Mortgages and other notes payable (attach schedule)...... 4,000
22 Other liabilities (describe bullet) Click to see attachment7,711 Click to see attachment2,254
23 Total liabilities (add lines 17 through 22)......... 17,211 26,179
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................
25 Temporarily restricted...............
26 Permanently restricted...............
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........
28 Paid-in or capital surplus, or land, bldg., and equipment fund 287,250 287,250
29 Retained earnings, accumulated income, endowment, or other funds 4,711,385 4,687,641
30 Total net assets or fund balances (see instructions)..... 4,998,635 4,974,891
31 Total liabilities and net assets/fund balances (see instructions). 5,015,846 5,001,070
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of yearPart II, column (a), line 30 (must agree with end-of-year figure reported on prior years return) ...............
1
4,998,635
2
Enter amount from Part I, line 27a .....................
2
-11,347
3
Other increases not included in line 2 (itemize) bullet
3
4
Add lines 1, 2, and 3 ..........................
4
4,987,288
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
12,397
6
Total net assets or fund balances at end of year (line 4 minus line 5)Part II, column (b), line 30 .
6
4,974,891
Form 990-PF (2014)
Form 990-PF (2014)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
PPurchase
DDonation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a Stock sales net activity Union Bank AMG P 2010-01-01 2014-12-31
b
c
d
e