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Form
990-PF
Return
of
Private
Foundation
or
Section4947(
a)(1)
Nonexempt
Charitable
Trust
Departmen^oftheTreasury
Treated
as
a
Private
Foundation
inter
n
al
Re„.
ue
Service
p>)
Note
:
The
foundation
may
be
able
to
use
a
copy
of
this
return
tosatisfy
state
report)
OMB
No
1545-0052
2007
For
calendaryear
2007
,
or
tax
year
beginning
,
and
ending
f:
Chuck
Al
that
annlu
n
nitial
return
n
inal
ret
urn
n
mended
return
n
ddress
channe
Name
chanae
Use
the
IRS
Name
of
foundation
A
Employer
Identification
number
label.
HE
WESTLAKEFOUNDATION
INC.
Otherwise
,
/O
KONIGSBERG,
WOLF
&
CO.
13-3393042
print
Number
and
street
(or
P
O
box
number
If
mall
is
notdelivered
tostreet
address
)
Roorr/
suite
B
Telephone
number
ortype.
440
PARK
AVENUE
SOUTH
(
212
)
685-7215
See
SpecificInstructions
City
or
town,
state,
and
ZIP
code
C
If
exemption
application
is
pending
,
check
here
^
L]
.
N
EW
YORK
,
NY10016
D
1
•
Foreignorganizations,
check
here
^
0
HCheck
type
of
organization:
X
Section501(c)(3)
exempt
Private
foundation
2.
Foreignorganizations
meeting
ta
u
the
85%
test,
^
.
heck
here
and
attach
com
tion
Q
ection
4947
(
a
)(
1
)
nonexem
p
t
charitabletrust
0
ther
taxablep
rivate
foundation
rivate
foundation
status
was
terminated
If
I
Fair
market
value
of
all
assets
at
end
of
year
J
Accounting
method
M
ash
0
ccrual
p
under
section
507(b)(1)(A),
check
here
(fromPart
ll,
col.
(c),
line
16)
=
ther
(specify)
F
If
the
foundation
is
in
a
60-month
termination
^
$
755
,
069
.
(Part
1,
column
(c
must
be
oncash
basis)
under
section
507
(
b
)(
1
)
B),
check
here
.
^
0
P
art
i
Analysis
of
Revenue
and
Expenses
(a)
Revenue
and
(b)
Netinvestment
(c)
Adjusted
net
(d)
Disbursements
(rhe
total
of
amounts
in
columns
(b),
(c),
and
(d)
may
notnecessarily
equal
the
amounts
In
column
(
a))
expenses
per
booksincomeincome
for
chartable
purposes
(cash
basis
only)
1
Contributions,
gifts,
grants,
etc
,
received
2
8
,
7
5
0
2
Check
^
-X1
d
the
foundation
is
notrequired
to
attach
Sdi8
3
Interest
on
savings
and
temporary
cash
investments
4
Dividends
and
interest
from
securities
25,
398.
25
,
398.
S
TATEM
E
NT
1
5a
Gross
rents
.
bNet
rental
income
or
(loss)
6a
Net
gainor
Coss
)
from
sale
of
assets
not
on
line
10
4,103
7
Gross
sales
puce
for
all
4
2
9
6
32
3.
b
assets
on
line
6a
/
/
m
7
Capitalgainnet
Income
(from
Part
IV,
line2)
4
,
103.
cc
8
Net
short-term
capital
gain
9
Income
modifications
.
Gross
sales
lessreturns
10a
and
allowances
bLessCost
of
goods
sold
c
Gross
profit
or
(loss)
11
Other
income
.
....
12
Total.
Add
lines
1
throug
h11
58
,
251.
29
,
501.
13
Compensation
of
officers,
directors
,
trustees,
etc
0.0.
0
14
Other
employee
salaries
and
wages
15
Pension
plans,
employee
benefits
y
16a
Legalfees
..
a
b
Accounting
fees
W
c
Other
professionalfees
...
.
>
17
Interest
2
18
Taxes.
.
STMT
2
.
2
,
530.419.
0.
19
Depreciation
and
depletion
20
Occupancy
..
.
.
.
21
Travel,
conferences,
andmeetings
22.-P_rmtmg
and.publications
-
23
Other
expenses
.
m
24
Total
operating
and
administrative
a
ses
Add
lies
cpugh23
xpe
n
2
,
530
.
419.
0
.
,=
25,Conth^lOrls
gifts,9frantts
aid
45
,
800.
45,800.
26
Total
expenses
and
disbursements'.
Add
lines
24and
25
48
,
330.419.45
,
800.
27-Subtract
line.25
from-line12.
a
Excess
of
revenueover
expenses
and
disbursements
9
,
92
1
.
b
NetInvestment
Income
of
negative,enter
-o-)...
2
9
082
.
e
Ad
usted
net
Income
[If
n
eg
ative,
enter
-0-
)
N/A
n
0
Q
C
p:!
723501
02-20.08
LHA
ForPrivacyAct
and
Paperwork
Reduction
ActNotice
,
see
theinstructions.
Form
990-PF
(2007)
Form
990-PF(2007)
THE
WESTLAKEFOUNDATION
INC.
CIOKONTaSRRRa
_
WnT,F
t„
co.
13-339304
Panel
shedschedulesandamounts
Inthedeswpton
Sh
t
B
l
Beginning
of
year
End
o
f
year
ance
ee
s
^^
column
should
be
for
end-of-year
amounts
only
(a)
Book
Value
(b)
Book
Value
(
c)
Fair
Market
Value
1
Cash
-
non
-
interest-beanng
_
9,
514.
3,935.
3,935.
2
Savingsand
temporarycash
investments
1
,
000.
1,000.1,000.
3
Accounts
receivable
^
Lessallowance
for
doubtful
accounts
^
4Pledges
receivable
^
Less*
allowance
for
doubtful
accounts
^
5Grants
receivable
-
6Receivables
due
from
officers
,
directors
,
trustees
,
and
other
disqualified
persons
7
Othernot
e
s
and
loans
mmiNiable
^
Less*
allowance
for
doubtful
accounts
^
8
Inventories
forsale
or
use
9Prepaid
expensesand
deferred
charges
a
10a
Investments
-
U
S.
and
state
government
obligations
STMT
3
694
,
071.
730,332.
750,134.
b
Investments
-
corporatestock
c
Investments
-
corporate
bonds
11
Invest
m
ents
-
land,
bulldnps
,
andequipment
bass
^
Less
aaunwlaled
deprnabon
.-
^
12
Investments
-
mortgage
loans
13
Investments
-
other
14Land
,
buildings
,
and
equipment
:
basis
^
Les
accunulahd
depreaabon
^
15
Otherassets
(
describe
^
)
16
Totalassets
to
be
com
p
leted
b
y
all
filers
704
,
585.735
,
267.
755
069
.
17
Accounts
payable
and
accruedexpenses
18
Grantspayable
to
19
Deferred
revenue
20
Loans
from
officers
,
directors
,
trustees
,
and
other
disqualified
persons
-
21
Mortgages
and
other
notespayable
--.
J
22
Other
liabilities
(
describe
^
23
Total
liabilities
(
add
lines
17
through
22
)
0.0.
Foundations
that
follow
SFAS
117,
check
here
^
0
andcomplete
lines
24
through
26
and
lines
30
and
31.
24
Unrestricted
co
25
Temporarily,
restricted
....
..
Co
26
Permanently
restricted
----
Foundations
that
do
notfollow
SFAS
117
,
check
here
10-
E1
L`
and
complete
lines
27
through
31.
°
27
Capital
stock
,
trust
pnncipal
,
or
current
funds
--
275,137.
275,137.
28
Paid-inor
capital
surplus
,
orland
,
bldg
,
andequipment
fund
346
,
700.
357,700.
29
Retained
earnings
,
accumulated
income
,
endowment
,
orother
funds
82,748.
102
,
430
-
Z
30
Totalnet
assets
or
fund
balances
7
0
4,
5
85.
7
35
26
7
31Total
liabilities
and
net
assets
and
balances
7
04
,
585.735
,
26
7.
Analysis
of
Changes
in
NetAssets
or
Fund
Balances
1
Totalnet
assets
or
fundbalances
at
beginning
of
year
-
Part
II,
column
(a),line
30(must
agree
with
end-of-year
figure
reported
on
prioryear'sreturn)
2Enter
amount
from
Part
I,
line
27a
3Otherincreasesnotincluded
in
line
2(itemize)
^
4
Add
lines
1,
2,
and
3
.._
..
.
5
Decreases
notincluded
in
line
2
(itemize)
^
6
Totalnet
assets
or
fundbalances
at
and
of
year
(line
4
minus
line
5)
-
Part
II.
column
(b).
line
30
72351102-20-08
1
704
585.
2
9
,
921.
3
0.
4
714
506.
5
0.
714,506.
Form
990-PF
(2007)
THE
WESTLAKE
FOUNDATION
INC.
Form
990-PF
(2007)
C/OKONIGSBERG,
WOLF
&
CO.
13-3393042
Pa
g
e
3
Palm
lY
Capital
Gains
and
Losses
for
Taxon
Investment
Income
(a)
List
and
describe
thekind
(s)of
property
sold
(e
g
,
real
estate
,
2-story
brick
warehouse
,
or
common
stock
,
200
shs
MLC
Co
rY
)(
b
How
acquired
-
Purchase
D
-
Donation
(
c)
Date
acquired
(mo,
day,
yr)
(d)
Datesold(mo.,day,
yr
)
la
B.L.MADOFF
P
b
B.L.MADOFF
c
FIRST
MANHATTAN
P
d
FIRST
MANHATTAN
P
e
CAPITALGAINSDIVIDENDS
(e)
Gross
sales
price
(
Q
Depreciation
allowed
(or
allowable
)(
g)
Cost
or
other
basisplus
expense
of
sale
(h)
Gainor
(loss)
(
e)
plus
(f)
minus
(g)
a
4
,
210,400.
4
,
210
,
370.
30.
b
6,120.
<6,120.:
c
78
,
825.
75,730.3,095.
d
5
,
790.
5,790.
e
1,308.
1,308.
Complete
only
for
assets
showing
gain
in
column
(h)
and
owned
by
t
hefoundationon
12
/
31/69
(I)
Gains
(Col
(h)
gain
minus
(I)
F
M
V.
as
of
12
/
31/69
(j)
Adjusted
basisas
of
12/31/69
(
k)
Excess
ofcol
(i)
over
col
(1),
if
any
c
ol
(
k),
butnot
less
than
-0-)
or
Losses
(from
col
(h))
a
30.
b
<6,120.
C
3,095.
d
5,790.
e
1,308.
2
Capital
gainnet
income
or
net
capital
loss)
If
?ain,
a
lso
enter
in
Part
I,
line
7
)
(
)
1
If
loss
line
7
nter
-0-
in
Part
I
2
4,103.
3
,
Netshort
-
term
capital
gain
or
(loss)
asdefined
in
sections
1222
(
5)
and
(6)
If
gain,
also
enter
in
Part
I,
line
8,
column
(c)
If
(loss),
ent
er
-0-
in
P
art
I,
line
83
N/A
V
Qualification
Under
Section
4940(e)
for
Reduced
Taxon
NetInvestment
Income
(Foroptional
usebydomestic
private
foundations
subjecttothesection
4940(a)
tax
on
net
investment
income
)
If
section
4940(d)(2)
applies,leave
this
partblank.
Was
the
foundation
liable
for
thesection
4942
tax
on
thedistnbujable
amount
of
any
year
in
the
base
period?
-
-----
El
Yes
0
o
If'Yes,the
foundation
does
not
quality
under
section
4940
(
e)
Do
not
complete
this
part
1
Entertheappropriate
amount
in
each
column
for
eachyear
;
see
instructions
before
making
any
entries
Base
period
yearsCalendar
ear
(
or
tax
y
ear
be
g
innin
g
m
()
Adjusted
qualifyingdistributions
()
Net
value
of
noncharitable-useassets
d
Distribution
ratio
(
col(b)
divided
by
col
(c))
2006
14,800.
446,232.
.033167
2005
22,500.
370,528.
.060724
2004
0.
273,
656.
.000000
2003
39,000.
271,996.
.143384
2002
42
680.29
,
168.
1.463247
2
Total
of
line1,
column
(d)
2
1.
7
00
5
2
2
3Average
distribution
ratio
for
the5-year
base
period
-
divide
the
total
on
line
2
by
5
,
the
foundation
hasbeen
in
existence
if
less
than5years
..
-
or
by
the
number
of
years
3
.340104
4
Enterthenetvalue
of
noncharitable
-
use
assets
for
2007
from
Part
X,
line
5
4
734
,
493.
5
Multiply
line
4
by
line
3
--
5
249
,
804.
6
Enter
1%
of
net
investment
income
(
1%
of
Part
I,
line
27b
)
-
.......
6
291.
7
Addlines5and6
7
250
,
095.
8
Enter
qualifyingdistributions
from
Part
XII,line
4
8
45
,
800.
If
line
8
is
equal
toor
greater
than
line
7,
check
the
box
in
Part
VI,
line
1
b,
and
complete
thatpart
using
a
1%
tax
rate
See
the
PartVIinstructions.
723521/02-20-08
Form
990-PF
(2007)
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