a f ..990- r...

T T

A

F ..990-PFDepa rtment of the TreasuryInternal Revenue Service

or Sectionote : The orc

For calendar year 2003, or tax year be in

G Check all that apply: Initial return

N am e of organization

Use the IRSlabel.

Otherwise,print

or type .See SpecificIn s tructions .

Return of P rivate Found ationa)(1) Nonexempt Charitable Trust Treated as a Private Foundationon may be able to use a copy of this return to sa ti sfy state rep orting requirement

Wino , 2003, and ending

F ina l

N um b er and street (o r P 0 box n umbe r if mail is not delivered to s t reet addre ss)

OMB No 1545-0052

2003change I I N ame chant

A Employer identification numbe r

00-VYL1Y/ O

Room/suite I B Telephone number (see page 10 ofthe instructions)

l iSVL N . C;L`iV TKAL AVi'ilV Utti OVL /YY-08VU

City or town, state, and ZI P code C If exemption ap plication 6p e nd ing, check here

D 1 Foreign organiza UOns, ch ec k here

PHOENIX, AZ 85004-1506 2 Foreig n org anizations meeting the85% test, check here and attach

H Check type of organization. X Sectio n 501(c A33 exempt private foundation com p utation . . . . . . . L_JSection 4947(a)(1) nonexempt charitable trust Other taxable .private foundat io n

E If p rwate fou n d ation status wa s ter minate d

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

of year (from Part/l , col (c), line ❑ Other (specify) __ ____________ F If th e f ou nd ation is in a 60-month termination

16) ► $ 168,491,728 . (Part 1, column (d) must be on cash basis.) under sect ion 507(b)(1)(B) , check here ,

Analysis of Revenue and Expenses (d ) Disbursements(The total of amounts in columns (b), (c), and (a) Revenue and 7 1(b) N et invest me nt (c) Adj u s ted net for charitable(d) may not necessarily equal the amounts in ex penses per income income purposes

boo ks ,---~ ~--- --.. ..column a see page 10 of the 21 1

1 Contribution~s grf_ts, grants . etc .received (attach schedule) ~- 0

Check ,1 I if the foundation is not required to~-~ attach Sch B

2 D istrib utions f r o m split-interest trust s

3 Interest on savings and temporary cash inves tments

4 D ividen d s and interest from securities 2, 2

5 a Gross rents , .

4) b ( N et rental income or (loss)

6 a Net ga in or ( loss) from sale of assets not on line 10 3_ 5b Gross sales price for al l

y assets on line 6a 21,709,672 .

7 Capital gai n n et i n come (from P art IV, line 2)

8 Net s h ort-te r m capital gai n

9 Income modifications10a Gross sales less returns

and all owances

b Less Cost of goods s_pld ';

1 Ot~ra (attaC sch

I LoqO n~6~ off~~lYlirec ' trus tees, etc 557 ,

1 ployee salarie wages 9 60wc 1 i pl ~e enefit 4 0 0e

16 38

W ing fees (attach sche d ule)STMT 2 10,

c Other professional fees (attach scSTMT . 3 266,

17 Int e rest . .NC 1 S Taxes (attach schedule ) (see p age 13 of th e instructions) * * 323,

19 Dep re ci ation (attach sched ule) and depletion 248

< 20 O ccu pancy .

21 Travel, conferences, and meetings ,

.

53,

at 22 Printing and publ ications 152,c

23 O ther expense s (attac h schedule) $Tx+1T . 6 900,

d 24 Total operating and administrative expenses .

O Add lin es 13 t hroug h 23 3,911,

25 Contributions, gifts, grants paid 1,793,

26 Total expenses and disbursements Add l ines 24 and 25 5,705,

UJ 27 Subtr a ct l ine 2 6 from l ine 1 2

Z a Excess of revenue over expenses and disbursements -123 ,

Z b Net investment income (if negative, enter -0-)

c Adjusted net income (if negative ent e r -0-) .3E1410 2 000 For Paperwork Reduction Act Notice , see the instructions.

yr 4XZOIE 1546

2

**STMT 4

22630- 448

3,499

2 .79 9

Form 990 -PF (zoos)

Atta c hed sch edules and amounts i n theBalance Sheets des cri pt i on column should be for

1 Cash - non-interest-bearing , ,

2 Savi ngs a n d te mporary cas h i n vestments , ,

3 Accounts receivable 101----- -- --- - --- -- --------

Less allo wance fo r doubtful accounts --- ----------4 P le d ges receiv able ►

---- -- -- -- --------------Less a llowan c e f o r doubtful accounts 10,

5 Grants receivable ,

6 Receivables due fr om of ficers, erectors , t rus tees, a n d other

d isqual i fied persons (attach sch edule) (see page 1 5 of the instructions)

7 Other notes and loa n s receivab le ( at tach schedule) 00. _ _ _ _ _

Less allowance for dou btful accounts 0 -

8 I n vento ries for sal e or use

9 P rep a i d ex p e nses and deferred c harges , ,

10 a Investments - U S and state government obl igations (att ach schedule)

b Inve stm en ts - corporate stock (attac h sch e d ule) , ,

c Inve stme n ts - corporate bon ds (attach schedule)1 1 Investments -land, buildings, 00.and equ ipment bas is ___________________

Le s s accumulated deprec iat ion 10.(atta ch schedule) ---------------- - --

12 I n v es t me n ts - mortgage loans

13 Investmen ts - other ( attach schedu l e ) , ,STMT 7 & 814 Land, buildings, an d

equipment basis _________ __ _Less accu mulated depreciat ion p. 1002492 .(attach schedule) ___-___-___c _ __c_ _

_15 Ot her assets (describe 101 ___ __ ___ _____ STMT_ 10 )

16 Total assets (to be comp leted by a ll filers - see pa g e 16 of

17 Accounts pay abl e and accrued expenses ,

18 G r ants paya ble ,

19 D e ferred revenue

20 Loans from officers , d i rectors, trustees, and other d isqual ified persons

21 Mortg ages a n d o ther n otes p ayable (attach schedule) , ,

22 Othe r lia b ilit i es ( de scri be 1 ____________ STMT- 11 )

cs i vial uao mnes aoa ones i i inrou n c c

Organizations that follo w SFAS 117, check here ► Xan d complete lines 24 t h rough 26 an d lines 30 and 31 .

0H

dHH

2 4 Unrestricted . . . .

25 Temporarily restricted . . .

26 Permanently restricte d

Organizat i ons that do not follow SFAS 117 ,check here and complete l i nes 27 through 31 . op-

27 apital stock, trust principal, or current funds .

28 P aid-in or capital surplus, or l and, bld g , a nd equipment fund

29 R etained ea rnings, accumulated income, endowment, or other fund s

30 Total net a s sets or fund balances (see page 1 7 of th e

instructions) , ,

31 Total liabilities and net assets/fund balances (see page 17 of. . . . . . . . . . . . . . . . . . . . . . .

Book Value I (b) Book Value 1 (c) Fai r

7

147 , 889 , 650 .1 168 , 491 , 728 .

Analysis of Changes in Net Assets or Fund Balance s

I Total net assets or fund balances at beginning of year - Part II, column (a), line 30 (must agree with

end-of-year figure reported on prior year's return) , 1

2 Enter amount from Part I, line 27a 2

3 Other increases not included in line 2 (itemize) ►_ SEE STATEMENT 12 ___________________ 34 Add lines 1, 2, and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Decreases not included in line 2 (itemize) ►

------------------------------------- 56 Total net assets or fund balances at end of vear (line 4 minus line 5) -Part H . column (b) . line 30 . . . . 6

6 , 778 , 45

STMT 9

7

Form 990 -PF (2003 )JSA

3 E 1420 1 000

4XZOIE 15 46 22630-448

Form 990 -PF ( 2003)

al Gains and Losses for Tax on Inve stment Income(a) L is t and d esc ri be the kind(s) of property sold (e g , real estate ,

2 -story brick war eh ou se; or com mon s tock , 2 00 s hs MLC C o )

1a SEE PART IV SCE

b STATEMENT 12A

C

d

e

(e) Gross sales price

Complete only for assets

(i) F M . V as of 12/31/69

(fl Dep rec i ation al lowed (g) C ost or ot h er basis( or all owable) plu s expen se of sale

I gain in column hand owned by the foundation on 12/31

(j) Adjus ted basis (k) Excess of col (i )a s o f 12/31/69 o ver co l Q), if any

(h) Gain or (los s )( e) pl us (f ) m inus ( g)

(I) Gains (Co l ( h) gain m i nu scol (k), but not les s than -0-) or

Losses (from col (h) )

If gain, also enter in Part 1, line 72 Capital gain net income or (net capital loss) If (loss), enter -0- in Part I, line 7 } 2

3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):

If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions) .If loss , enter -0- in Pa rtI, line 8 3

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income . )

I f section 4940(d)(2) applies, leave this part blan k .

Was the o rganiza tion lia b le for the section 4942 tax on the d istri butable a mount of any yea r in the base period . . . . F-1 Yes ❑X NoIf "Yes," the organization does not qualify unde r section 4940(e) . Do not complete this part.

1 Enter the appropriate amount in each column for eac h year ; see page 17 o f the instructions before making any entries .

(a) 1 (d)Base per iod yea rs Calendar year

Adjusted qualifying d istributions Net value of nonchantable-use assets D i stributi on rati o(or tax year beginningin) col (b) d ivided by col (c))

2002 7,638,326 . 145 694 391 . 0 . 05242704230

2001 6,164,646 . 168 656 677 . 0 . 03655144943

2000 8,018,735 . 171,221,002* 0 . 04683266017

1 999 9,406,981 . 178 839 772 . 0 . 05260005028

1998 8 , 233 , 752 . 160 , 930 . 524 . 0 . 05132285175

2 Total of line 1, column (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5, or b y

the number of years the foundation has been in existence if less than 5 years 3

4 Enter the net value of noncharitable-use assets for 2003 from Part X, line 5 4

5 Multiply line 4 by l ine 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Enter 1% of net investme nt income ( 1 % o f Part I, line 27b) . . . . . . . . . . . . . . . . . . .

7 Add lines 5 and 6 . . . . . . . . . . . . . . . . . . . . . . . . . . I 7

3

I%= I(c) D ate

I d) Date sol dqu i red (momo, dayr )P-Pwchase ,yr ) a

c( mo , dayD-Donation

101 .632 .

7 , 300 , 47 0

838 .

8 Enter qualifying distributions from Part X II, line 4 . . . . . . . . . . . . . . . . . . . . . . . 1 g 1 10,067,624 .If l i ne 8 is equal to or greater than l i ne 7 , check the box in Part VI , li ne 1b, and complete that pa rt us ing a 1% tax rate See the P art VI in structions on page 1 7

S SA Form 990 -PF ( 200 3)3 E 1430 1 000

4XZOIE 1546 22630-448

c orm a a u -rr GVU3 80-V9L14 /O

Excise Tax Based on Investment Income (Section 4940(a) , 4940(b) , 4940(e) , or 4948 - see pa

I a Exem pt ope rating foundatio n s descri b ed i n s ection 4940 (d )(2 ), check here ► Li and ent e r " N/A " on lin e 1

D ate of ru lin g letter _ _ _ _ _ _ _ _ _ (attach copy of ruling letter if necessa ry -see instructions)

.b Domestic

Ma

ni zati ons th a t me et th e sec tion 49 40( e ) requi rement s in Part V. c he ck

h ere ► and enter 1 % of Part I , line 27 b

c A ll other dom estic organi z ations ente r 2 % of l in e 2 7 b Exempt foreign organizations enter 4% of Part I , line 1 2, col (b)

2 T a x u nde r s e cti on 511 ( domestic secti on 49 4 7( a)( 1 ) tru sts and taxabl e foundations o nly Others enter -0-) , ,

3 Add lines l and 2 .4 Su b t itle A (inc ome ) tax (domest ic secti on 4 94 7(a)( 1 ) trusts a n d taxabl e foun dations only Others ente r - 0-), ,

5 Tax based on investment Income . Subtra c t line 4 f rom line 3 If zero o r less, ente r - 0-

6 Credits/Payments

a 2003 e sti mated tax pay m ents and 20 02 ov e r p a y ment cr ed ited to 20 03 6a 140 000 .

b Exempt foreign organizations - tax withheld at source 6b NONE

c Tax pai d w it h ap p lication for exten sio n of tim e to f ile ( For m 886 8 ) 6c NONEd Backup wit hh oldi ng er r o n eously w ithh eld , 6d

7 T ot a l credits and paym e nts Add l ines 6 a throu gh 6d

8 En ter any penal ty for und e rpayment of esti mated tax C h eck here ❑ if Form 2220 i s a ttac h ed

9 Tax due. If t h e t o tal of l in e s 5 and 8 is more t h a n l ine 7 , en ter amount owed , ►10 Overpayment . If l i ne 7 is more than t he to tal of lines 5 a nd 8 , enter the amount overpaid , ►

Statements Re .

17 of the

Activities1 a Du ring the tax year, d id th e organ ization at tempt t o i nfl u e n c e any na ti ona l , state , or lo cal leg is lati on or d id Yes No

it participate or i n t ervene i n a ny pol itical camp ai gn?, 1 a X

b D i d it spend more t han $1 0 0 du ri ng the yea r (e i t her d ir e ctl y or ind i re ctly) for politic a l pu rposes (see page

18 of the instru ctions for definition)? 1 b X

If the an s wer is "Ye s" to 1a or 16 , attac h a de taile d descriptio n of the a c ti vi tie s and cop ie s of a ny materials

published or distributed by the organiza t ion in conne ction with the activities SEE STMT 14

c D i d t h e organization fil e Form 1120-POL for this years 7 c Xd En ter t he amount (i f any) of ta x on pol i tical expend it u res (se ct ion 495 5) imposed du ri ng t he year .

(1 ) On the organization . Po. $ (2) O n organization managers 1 $e Enter the rei mbur s eme nt (i f an y) paid by the org an ization du ri ng t h e year for pol itical exp end iture tax imposed

on organ ization managers ► $

2 Has th e organization e ngaged i n an y activities that h ave not previous l y been reported to the IRS? 2 X

If "Yes, " a tta c h a detaile d desc ripti on of th e activitie s

3 Has th e orga nization ma d e any changes, not p r e vio u sl y reported to the IRS , i n its go verni ng instrument, arti cl e s

of i nco rporat ion , or by l aws, or other similar instruments? If "Yes," attach a conformed copy of the changes 3 X

4 a D i d th e organization ha ve un related bus in ess g ross i n come of $1 ,0 00 or mor e du rin g the years 4a X

b If "Yes," has it fil ed a tax ret urn on Form 990-T for th is year? 4b X

5 Wa s there a li qu id ati on , term i n ati on , d iss olutio n , or substantial contraction during the year? , 5 X

If 'Yes," attach the s tatement required by Ge neral Instruc tion T

6 Ar e the requirements of s ectio n 508( e ) (relating to sections 4941 through 4945) satisf ied ei ther

• By language in the governing instrum ent o r

• By state legi slation that effectively amends the governing instrument so that no mandatory direction s

that conflict with the state law remain in the governing instrument? 6 X

7 Did the organ izati on have at lea st $5 ,000 in a ssets at any ti me during t he year s if "Yes," complete Part ll, c ol (c), and Part XV. 7 X

8 a Ente r the s tate s to whi ch t h e foundat ion reports o r with whi c h it i s registere d (see pa ge 19 of th e

instructions) jo~ ARIZONA-------------------------------------------------------------------

b If the answer is "Yes" to li ne 7 , has the o rgan i zati on furnished a copy of Form 990- PF to the Att orney

General (or d esignate) of each state as required by General Instruction G? If "No," attach explanation 8b X

9 Is the organ i za ti on claim i ng sta tu s as a pr ivate ope rat i ng founda ti on w it h in the mean in g of section 4 942 0)( 3 )

or 49420 (5) f or calen d ar year 2003 or the taxable year beginning in 2003 (see i nstructi on s for Part XIV o n

page 25 )? If " Yes, "complete PartX/V 9 X10 Di d any pers ons becom e s ubsta ntial co ntributors duri ng the tax year? If "Yes,"attach a schedule listing their na mes and a ddresses 1 011 Di d t he o rg a nizati on co mp ly with the p ub lic insp e cti on requirements fo r its an n ual returns and exempti on application? . 11 X

Web site address ► - - - - - - - - - - - - - - - - WWW _FLINN . ORG ---------------------------------------------------12 The books are in care of ►_THE _ FLINN_FOUNDATION______________________ Telephone no ►_(.A02j 744_ 6800_--------

L ocat e d at jo. 1802 N CENTRAL AVENUE Z I P +4 8501 213 S ecti on 494 7( a)(1) n o n exempt cha ri table t rusts filing Form 990 -PF in li eu of Form 1041 - Check here ,

.

►~a nd e nt er the amount of tax-exe m pt i n terest receive d or accrued du ri ng the ye ar ► I 13

`

.I .

S SA Form 990 - PF (2003)3 E 1 440 1 000

4XZOIE 1546 22630-448

Form 99 0 -PF

Statements Re Activities for Which Form 4720 May Be5

File Form 4720 if any item is checked in the "Yes" column , unless an exception applies .

1 a During t he yea r di d the organization ( eith er directly or in d irectly )

(1) E ng ag e i n the sal e or exchange, or l easi ng of prop erty wit h a d isquali fied person? ❑ Yes ❑X No

(2) Bor ro w m oney from , lend m oney to, o r o t herwi s e extend credi t to (or acce pt it f rom )

a d isq ualifi ed persons . . . Yes X No

(3) Furnis h g oods, s ervi ces, or fa cilities to (o r acce pt t h em f rom) a d isqu a lified person? Yes X No

(4) Pay compe nsat io n to, o r pay o r r eimb u rse the expen ses of , a disqu ali fied person? X Yes No

(5) T ransfer any incom e or assets to a disq u ali fi ed person ( or make any of eit h er availabl e

fo r t he ben e fit or use of a disqu ali fied person)? ❑ Yes rx~ No

(6) Agree t o pay m oney or pr o pe rty to a government official? ( Exception . Ch ec k "No"

i f th e org ani za tion a greed t o make a gra nt to or to em ploy th e official for a period

aft er ter m i nati on of g overn me nt ser vice, i f term inat ing w ithin 90 da ys) ❑ Yes ❑X No

b If an y an s w er is "Ye s" to 1a( 1 )-(6 ), di d any of the a c t s fai l to q ualify und er the exc ept ions descri bed in Regu la tions

section 53 49 41 ( d )-3 or i n a cu rre nt n otice regar ding d is aster assistan ce (see page 1 9 of the i n structio n s )

Or gan izatio ns r el y ing on a current n otic e r e ga rdi ng disaster ass i stan ce check here ~ u .

c D id the or gan izat io n engage in a pri or yea r in a ny of th e acts described in 1a , o th er t h a n exce p ted a cts,

th at we r e not corr ected befo re the f irst d ay of the tax year beginning i n 200 3

2 Taxes on fail u re t o dis tr ib u t e i n come ( s ecti on 4942 ) (d oes n ot a pply for years th e organization was a private

operat i ng fou n dati on defined in sec t ion 4 9 420 ( 3) or 49420(5) )

a At the end of tax year 2 003 , did the o rgan iza tion have any u n distri buted income (l ines 6d

and 6e , Part XIII) for tax year (s ) beginning b efore 2003 ❑ Yes ❑X No

If " Yes ,"list the yea rs ► -- -- -- - -- - , ---------' --- - --- - ' - -- - -- --

b Are t here any yea rs lis ted in 2a for whic h the organization is not applyin g the p r ov isi ons of s ection 4942(a )( 2 )

(re l ati n g to i n co rrect valu ation of a s s ets) to th e year's u ndistri bu ted income? ( If a pplying sectio n 4942 ( a)( 2)

to all years lis ted , an swer "No " and a tt ac h statement - see page 19 of the instru c t ions ) . .

c If the provisio ns of secti on 4942( a )(2) are being applied to any of the ye ars l is ted in 2a , list t he years here .

3 a Did t he o rg ani za tion hol d more than a 2 % d ir ect or i ndirect i nteres t i n any bu si nes s

en t erp rise at an y ti me du ri ng the years , ❑ Yes ❑X No

b If "Y es," di d it have excess bu siness h oldi ngs in 2003 a s a result of (1) any purcha se by the o rgani zation

or dis qual if i ed person s after May 26 , 1 969 , (2) the lap se of th e 5-yea r pe rio d ( or l o n g e r period appro ved

by th e C o mmissi one r under s e ctio n 4943 (c)( 7 ) ) to d ispose o f hol d ings ac qui red by g ift or bequest ; or (3)

the l a ps e of t he 1 0-, 1 5-, or 20-year first ph ase h old ing period? ( Use Sche dule C, Form 472 0, to dete rmin e

if the organization had excess business holdings in 2003 )

4 a D id t he o rg an iz ation i n ves t dur i ng t h e year a ny amount in a manner that wou l d jeopard ize its charitable pu r poses ? . . .

b D id the o rganization make any invest ment in a pri or year (but after D ece mber 31, 1969) that c ou ld jeopardi ze its c ha ri table

purpose tha t had not bee n removed f ro m j eop ardy bef ore t he f irst day of the tax yea r beg inni ng in 20 03 ?

5 a Du rin g the year d id the org a nizati on pay or in cur any amount t o(1) Carr y o n p ropaganda , or ot herwi se a tt empt to i nf l uen ce legislation (s ect ion 4945(e))? ❑ Yes a No

(2) Inf l uence the out co me of any s peci f ic public e le cti o n (see secti on 4955 ); or to ca rry

on , d ire ctly or indi re ctly , any voter registration dnve> Yes X No

(3) P rovi de a grant to an individual fo r travel, s tudy, or ot her si m il ar purposes? X Yes No

(4) Provi de a grant to an orga ni zation other than a charitable , etc , organization descri bed

in secti on 509 ( a ) (1 ), (2 ), or (3 ), or s e ction 4940( d )(2 )? . . . . . . . . . . . . . . .

. . . . .

. 0 Yes EZ No

(5) P rovide for any p u rpos e o t he r than reli gio u s, cha ritab le, scienti fi c, litera ry, o r

edu cational purpo se s, or for the prevention of crue lty to c h il dren or animals? ❑ Yes ❑X No

b If an y an s wer is "Yes" to 5a( 1)- (5), did any of the tran s action s fa il to q u alify und e r the exc ep tions descri bed i n

Regulations section 53 494 5 or i n a current notice r egarding disaster assista n ce (see page 20 of the instructions)? •~

O r ganiza tions r e lying on a current not i c e regar d ing d is a st er assistance check here 10.

c If t he answer i s "Yes" to question 5 a (4 ), d o es the organization claim exe mption from the

tax beca u se it mai nt ai n ed expend it ure res p o n sibility for th e grant? NIA ❑ Yes ~ No

If "Yes," attach the s tatement require d by Reg u lat ions secti on 53 4945 -5(d)

6 a Did the or g a n iza ti on , du ri ng the year, re ce ive any funds, directl y or in d ire ctl y , to paypremi um s o n a p e r son al benefit contract? ❑ Yes ❑X No

b D id the org anization , during the ye ar, p ay premiums, d i r ectl y or indirectl y, on a perso n al be nefit cont ract?

Ifyou a ns were d "Yes" to 6b, also file F orm 8870

Form 990 - PF (2003 )

JSA

3E1450 1 000

4XZOIE 15 46 22630- 44 8

86-0421476Form 990- PF (2003)

MM Information About Off i cers , D irectors , Trustees , Foundation M anagers, Highly Paid Employees, and Contractors

1 List all officers , directors , trustees , foundation managers and their compensation (see page 20 of the instructions) :

(a) Name and address (b) Title, a n d average (c) Compensation (d)Contributions to (e) Expense acc ount,

h ours per week If not paid, enter employe e benefit pans other allowancesdevoted to position -0-) and deferred compensation

SEE ATTACHED STATEMENT 1 5

---------------------- ----------- 557 . 000 . 77 . 638 . NON]

2 Compensation of five highest - paid employees (other than those included on line I - see page 20 of the instructions) .If none , enter "NONE ."

(b) Title and average (d) Contri buti ons to

(a) Name and address of ea ch employee pa id more t han $50 ,000 hours per week (c) Compensat ion employee benefit (e) Expe nse a ccount,P plans and deferred other al l owances

devoted to position com pensat ion

WILLIAM READ~_f_ PHD .------------------- ASSOC DIR

1802 N . CENTRAL,PHX . AZ 85004 40 HOURS 134 , 500 . 30,492 . NONE

MYRA MILLINGER ASSOC DIR

1802 N . CENTRAL,PHX . AZ 85004 40 HOURS 131 , 200 . 28,543 . NONE

SAUNDRA JOHNSON ASSOC DIR

1802 N . CENTRAL,PHX . AZ 85004 40 HOURS 113 800 . 28,328 . NONE

MICHAEL YOUNG PROGRAM OFC

1802 N . CENTRAL,PHX . AZ 85004 40 HOURS 68,500. 13,801 . NONE

BRADLEY HALVORSEN IS MGR

1802 N . CENTRAL, PHX . AZ 85004 40 HOURS 66 300 . 20 391 . NONETotal n umber of othe r employees paid over $50,000 . t NONE3 Five highest-paid independent contractors for professional se rvices - (see page 20 of the instructions) . If none , enter

"NONE :"(a) Name and address of each person pa id more than $50 ,000 (b) Type of service (c) Compensat ion

CAMBRIDGE ASSOCIATE S

BOSTON, MA 02110 INVESTMENT CONSULT . 160,797 .

ESSER DESIGN

PHOENIX, AZ 85016 PUBLICATIONS 85,655 .

STEINBERG PRIEST CAPITAL NIGHT

NEW YORK, NY 10017 INVESTMENT MGMT 73,219 .

-----------------------------------------------------

----------------------------------------

Total num be r of others receiving ove r $50,000 for p rofessi c

Summa ry of Direct Charitable Activities

L ist the foundation 's four largest d irect charitable a ctiviti es duri ng the tax year Include relevant stati stical information such as the numberI Expensesof organizations and other benef ici aries se rved , conferences convened , research papers produced, etc

1-SEE-ATTACHED-STATEMENT- 16-------------------------------------------------------------

-----1 615 667 .

----------------------------------------------------------------------------

----------------------------------------------------------------------------

3------------------------------------------------------------- --- ----------------------------------------------------------------------------------------

4---- ----- -- ---- ---- --- --- - ------ -- -- --- -- ----------- ------- ---------- -------

---- ------ ---- - ---------- ------- ---- ------------------ ----- ----- ------------

Form 990 -PF (2003 )

JSA3E1460 2 000

4XZOIE 1546 22630-448

Form 990-PF

Summa ry of Program-Related Investments (see page 11 of the u

Describe the two largest program-related investments made by the foundation during the tax ye

7 NONE---------------------------------------------------------

---------------------------------------------------------

ao-vy ci y io;tructions)

on lines 1 and 2

-----------------

-----------------

7

------- - --- ------------ ------------ -- -- ------------------ ------- -----------

---------------------------------------------------------------------------

All other program-related investments See page 21 of the instructions

3 NONE---------------------------------------------------------------------------

---------------------------------------------------------------------------

lines 1 through 3Minimum Investment Return (All domestic foundations must complete this part . Foreignsee page 21 of the instructions .)

Amount

1 Fai r mar k et value of assets not used (or held for use) directly in carrying out charitable, etc ,

purposes :a Average monthly fair market value of securities . . . . . . . . . . . . l a

b Average of monthly cash balances .-c Fair market value of all other assets (see page 2 2 of the instr uct ions)

d Total (add lines 1a, b, and c )

e Reduction claimed for bloc k age or othe r factors reported on lines 1 a and

1 c (a ttach detailed explanation) 1 e

2 A c g wsition inde btedness applica b le to line 1 asse ts

3 Su btract line 2 f r om line 1

d 4Cash d eemed held fo r c h artab le activities . Enter 1 1/2 % of line 3 (fo r g reater amou nt, see page 23

of the instr u ctions )5 Net value of noncharitable -use assets. Subtract line 4 fro m line 3 . E nter here and on Pa rt V , line 4 56 Minimum investment return . Enter 5% o f line 5 , 6

Distributable Amount (see page 23 of the i nstructions) (Section 4942(j )(3) and (j)(5) private operatingfoundations and certain foreign o r ganizations check h ere 10. an d do not complete this p art . )

I Minimum investment return from Part X , line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

2a Tax on inves t ment income for 2003 from Part V I, line 5 _ Za 101 236 .b Inco me tax for 2003 (This does not include the t ax f rom Part VI .) . . . 2 b

c Add lines 2aand 2b 2c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 D ist r i butabl e amount befo re a djustments. Sub tract line 2c from line 1 . . . . . . . . . . . . . . . . . 3

4a Recoveries of amounts treated as qualifying distributions 4a 123,100 .b Income d istr ibutions fr om section 4947(a)(2) t r usts . . . . . . . 4b

c Add lines 4a and 4b 4c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Add lines 3 and 4c 5

6 Deductio n from distri butable a m ount (se e page 23 of t he instruct ions) . . . 6

7 Distributable amount as adjusted . Subt ract line 6 from line 5 . Enter here and on P ar t XII I, line I 7

1-7-NM. Qualifying Distributions (see page 23 of the instructions)

I Amount s p a id (including administ r ative expenses) to acco mplish charitable, etc ,pur poses :a Expenses, con tri b utions, gifts, etc . - total from Part I , column (d), line 26 . . . . . . . . . . . . . . 1 a 10b Pro gram-related investments - Total from Part IX-B I b. . . . . . . . . . . . . . . . .

2 Amounts paid to acquire assets used (or held for use) direct ly in.carrying out cha ritable, etc . ,

purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. . . . . . . . . . . . . . . . . . . . . .3 Amounts se t aside for specific charitable pr ojects that satisfy t he .

a Suitability test (prior I RS approval required) 3ab Cash dist r i bution tes t (a ttach the r equi r ed schedule) . . . . . . . . 3b

4 Qualifying distributions . A d d li nes 7a throug h 3 b. Enter h e re and on P art V, li ne 8 , and Part XIII , line 4 4 10

5 Organizations that qualify unde r section 4940(e) fo r the reduced rate o f tax on net investment

income . Ente r 1% of Part I , line 27 b (see p age 24 of the inst ructions) 5

6 Adjusted qualifying distributions . Subtract line 5 from line4 6 9

Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundationqualifies for the section 4940(e) reduction of tax in those years.

JSA3E1470 1 000

4XZOIE 1546 22630-448

76 , 260 , 7

167 , 7

76 , 000 , 1

52 , 428 , 5

59 , 002 .

NONE

8 . 622 .

NONE

NONE

67 . 624 .

Form 990 - PF (2003)

Form 990 -PF (2003) 86-0421476

Undistributed Income (see page 24 of the instructions )

1 Distrib ut ab le a moun t fo r 2003 f rom Part XI ,

line 7

2 Und istri buted i ncome, if any, as of the end of 2002

a Enter a m o un t f o r 2 002 o nly _ ,

b Total for prior years

3 Excess d istribu tio ns c a rryover, i f any, to 200 3

a F rom 1 998 NON

b From 1 999 NON

c From 2 000 NON

d From 2001 NONe From 2002 NON

f Total of lines 3 a th rou g h e _ ,

4 Qua lifyi ng dis t ri bution s for 200 3 from Part

XII, line 4 ► $ 10,067,624 .

a Appl i ed to 2002 , bu t not more th an l i n e 2a , ,

b Appli ed t o u nd istri buted income of prior years(Elect ion requ ired - see page 24 of the i nstru cti ons )

c T reated as d ist ri but i on s out of c orpu s ( Electionrequ ire d - see page 24 of th e instru cti on s )

d App l ied to 2 00 3 distri bu t abl e am ount, ,

e Rema i ning amou nt d i st ri bu ted ou t of co rpus5 Exc ess d istri but ions carr y o ver a pp lied to 2003

(If an amount app ears in column (d), thesam e amount must b e s hown in c olumn (a) )

6 Enter the net total of each column asindicated below :

a Corpu s Add lines 3f , 4c, a n d 4e Subtr act l ine 5

b P rio r y e a rs' undis tri but ed i ncome Subtra ctl i ne 4 b from li ne 2 b

c En te r th e amount of pri or years' undistributedincome fo r wh ich a noti ce o f deficiency h asb een i ssue d, or on wh ic h th e s ecti on 4942( a)t ax has been previou sly a ss essed , ,

d Subtract li ne 6 c from line 6b Taxabl eamou nt - see page 24 of the instru ct ions

e Und i str ibuted income for 2002 Subtract li ne4a from l ine 2a Taxable amount -seepage24 of the instructi ons ,

f U n d is tri but ed inco me for 2 00 3 Subtractli ne s 4d a n d 5 fro m l ine 1 . This am ount mustbe d istri bu t ed in 2004 .

7 Amounts treat ed as distributions out ofcorpus to satisfy requi rements i mp osed bysection 170 ( b)( 1 )(E) or 4942(g)(3) (see page2 5 of the i n str u cti ons ) .

8 Excess d is t ri bu ti ons carryover from 1 99 8n ot applied on l in e 5 or lin e 7 (see page 2 5of the i nstruc ti o ns ) . .

9 Excess distributions carryover to 2004.Subtr a ct lines 7 and 8 from li ne 6a .

10 Anal ysis o f l i ne 9

a Exces s f rom 1999 . NON

b Excess from 2000 . . NON

c Excess f rom 20 01 NON

d Excess from 2002 . NON

e Excess from 2003 . 1-874-571

(a(b) (c) (d)Corpus Years prior to 2002 2002 2 0 0 3

7 9

4 . 57

Form 990-PF (2003)

JSA3E1480 1 000

4XZOIE 15 46 22630- 448

Form 990-PF (2003) , 86-0 421476 Private Operating Foundat ions (see page 25 of the instructions and Pa rt VII-A, question 9) NOT APPLI C ABLE

I a If the foundation has received a ruling or determination letter that it is a private operatin gfoundation, and the ruling is effective for 2003, enter the date of the ruling ►

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or 4942(j)(5)

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

adjusted net income from (a) 2003 (b) 2002 (c) 2001 (d) 2000 (e) Tota lPart I or the minimu m

investment return from P artX for each year listed .

b 85% of line 2a

C Qualifying distributions f rom Part

XII, l ine 4 for ea ch year listed

d Amou n ts Incl uded in li ne 2c not

u s ed directly for a ctive cond uctof exempt activities ,

e Qualifying distributions made

directly for active conduct of

e xe mpt ac tivit ies Su bt ractl ine 2d from l ine 2c .

3 Complete 3a , b , or c for the

al terna tive test relied upona "Assets " alternat ive test - enter

( 1) Value of all ass ets(2 ) Value of a sset s qualifying

under secti on49420x3)(6 ) (i) .

b 'Endowment' alternative test -Enter 2/3 of m i n imuminvestment return sh own inPart X, lin e 6 for each yearI isted

C "Suppo rt" altemat ive test - enter

( 1) Total support other thangross in vest ment income(interest, dividends, rents ,

payment s on securitiesloans (section 512(a)(5)),

or royalties) ,(2) Support from general

public and 5 or moreexempt orga niza ti onsas provided in s ection4 9 420)(3)(B)(in )

(3 ) Largest amount of support

from an exempt

organizatio n

4 Gross investment income .

Supp lementary Information (Complete this part only if the organi zation had $5,000 or more inassets at any time du ri ng the year - see page 25 of the instructions . )

1 Information Regar d ing Foundation Mana g ers :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 if they have contributed more than $5,000) . (See section 507(d)(2) )

NONE

b Lis t any managers of the foundat ion who own 1 0% or more of the sto ck o f a co rporation (or an equally la rge portion of the

owner s h i p of a pa rtne rsh i p or ot h er enti ty) of wh i ch th e fou ndatio n has a 1 0% or grea ter interest

NONE

2 Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc ., Programs :

Check here 0' Fx-] if the organization only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds

If the organization makes gifts, grants, etc (see page 25 of the instructions) to ind ividuals 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 Th e form i n which app lications shou l d be s ubmi tted and i nformat ion and materials they should i n clude .

c Any subm i ssion deadl i nes

d Any res tricti ons or l i m i tation s on awa r ds , su c h as by geograph ic al areas , ch aritable fi elds, kin ds of institutio n s, or other

factor s

JSA

3E1490 1 000 Form 990 -PF (2003)4XZOIE 1546 22630-448

86-0421476Form 990- PF (2 0 03)

MIRMI-Supplementary Informa tion (continued )

4XZOIE 15 46 22630-44 8

Form 990 - PF (2003)JSA3E 1491 2000

Form 9 90- PF ( 2003 ) 86-0421476

Analysis of Income-Producing ActivitiesEnter gro s s am o u nts unless othe rw ise i ndicated Unrela t ed bu si ness income Excl uded by se ction 512 , 5 13 , or 514 (

Related o~ e xe m pt(a) (y ) ( c) (d) function incom eBusiness Excl usion (See page 26 of

1 Progra m servic e revenue code Amount code Amou n t the in st ru ctions

a GRANT REFUNDS AND

b CANCELLATION 236 884 .

c

d

e

g Fees an d contracts from government agencie s

2 Member shi p d u e s a n d assessments ,

3 Interest on savings and temporary cash investments

4 Divid ends a n d interest from s ecurit ies 14 2,282,411 .

5 Ne t re nta l in come or (loss) fr om rea l estat e

a De bt-financ ed p ro pert y

b Not deb t -fina nce d p ro p e rty

6 Net rental in come or (loss ) from personal pro pe rty

7 Other investment i nco m e

8 Ga in or (loss) fro m sales of assets other than i nvento ry 18 1,569,984 .

9 Net income or (l oss) fro m special events ,

10 G ross pro fit o r (loss) fro m sa les of invento ry .

11 Other revenue a

b SEE STATEMENT 13 34,614 . 430 689 .

C

d

e

12 Subtotal Add columns (b), (d), and (e) 34,614 . 4,283,084 .1 236,884 .

13 Total. Add l ine 12, columns ( b), (d ), a nd (e ) , 13 4,554,582 .

JSA31214921 000

4XZOIE 1546 22630-448

Form 990 -PF (2003)

Form 990-PF (2003) 1 86-0421476 Page 1 2

Information Regarding Transfers To and Transactions and Relationships With NoncharitableExempt Organization s

1 D id the organ izat ion di rectly or indi re ct l y engage i n any of the follow in g with a ny other org a n izati o n described i n section

50 1 (c) of the Code (ot h er th a n secti on 50 1 (c)(3) organizations) or in sectio n 527 , relating to political organizations ?

a Tr an sf ers fr om th e reporti ng org anizatio n to a n on ch antable exempt organization of

(1)Cash .(2) O ther assets

b Other trans a ct ion s

(1) Sal es of a ssets to a no n c h antabl e exempt organization ,

(2) Purch ases of a sse ts from a nonchar itable exempt orga n ization

(3) Re ntal of facilities, equipment, or ot h er asset s

(4) Rei m bu rsement arran gem ents , ,

(5) Loans or l oa n guarantees ,

(6) Pe r form ance o f services or m em bers h ip or fund raisin g solicitations _ ,

c Sharing of faciliti es, equ ipm ent, m a il in g l ists, other asse t s, or pai d e m ploye es ,

d If th e an swer to an y of th e a bove is "Yes ," complete th e fol low ing sc h e du le Col u m n (b) s ho u l d a lways show t he fair ma rket

v a l u e of t he good s, o th e r a ssets, or services g iven by t he re po rti ng or ga n izatio n I f the organization received less than fai r

m arket v a l ue i n an y trans a ction o r sharing arrangeme nt, s h ow in c o lumn (d) th e value o f the g oods, ot h er assets, or services

(a) Name of organ i zati on (b) Typ e of organ izat ion (c) Description of re lati onsh ip

X

Und er penalt ies of perjury, I declare that I have exam ined thi s return , i nclud ing accompany ing schedules and statements , and to the best of my knowledge andbel ief, it is true , correct, and complete Declarat i on of preparer (other than taxpayer or fi duc iary) i s based on all informat ion of which preparer has any knowledg e

` S ignature of officer or trustee

dS

C yPreparer's

16 co O signature ,,6 ~1 I

m °' Fir m's n a m e (o y rs ifself-em p loyed), a ress,and ZIP co de

ERNST' & YOUNG LLP '

TWO NORTH CENTRAL

JSA3E1493 1 000

4XZOIE 154 6

2 a Is the organization directly or in d i re ct l y affili a ted w ith , or related to, one or more tax-exempt organi zations

d escrib e d in sec ti o n 5 01 (c) of the C ode (other th a n section 501 (c)(3)) or in sect ion 527 El Yes ❑X No

Schedule B(Form 990, 990-EZ,or 990- PF )

Department of the Treasury

N ame of organization

FLINN FOUNDATION

Organization type (check one) :

Filers of:

Form 990 o r 990-EZ

Form 990- P F

Schedule of Contributors

Supplementa ry Information fo rl i ne I of Form 990 , 990 - EZ, and 990-PF (see instr u c tions)

O MB N o 15 4 5-00 4 7

2003ployer identific ation number

Section :

❑ 501(c)( ) (ente r numbe r ) organizatio n

❑ 4947(a)(1) nonexempt cha r itable trust not treated as a private foundation

❑ 527 politic a l o r ganizatio n

50 1 (c)(3) exempt private foundatio n

❑ 4947 (a)(1) nonexem pt charitable trust t reated as a p r ivate foundation

❑ 50 1 (c)(3) taxable private fou ndation

Check if your organization is covered b y the General Rule or a Special Rule . (Note : Only a section 501(c)(7), (8), or (10)organization can check box(es) for both the General R ule and a Special Rule - see instructions.)

General Rule -

For organizations filing Form 990, 990-E Z , o r 990- PF that received, during the year, $5,000 o r more (in money orproperty) from any one contributo r. (Complete Pa rts I and II . )

S pecial Rules

❑ For a section 501(c)(3) organizatio n filing Fo rm 990, o r Form 990-EZ, that m et the 33 1 /3% s upp ort tes t of the r eg ulationsunde r sections 509( a )( 1 )/170( b )(1)(A )(vi) and received from any one contrib uto r, d u r ing the year, a contri b utio n o f t he

g reate r of $5,000 o r 2% of the amount o n line 1 o f t hese forms. (Complete Parts I a nd II )

❑ Fo r a sec t io n 501 (c)(7), (8), o r ( 1 0) organizatio n filing Form 990, o r For m 990-EZ , that r ec eived from any one contribut or,du r ing the yea r, aggre gate contrib utions or bequests of more than $1,000 for use exclusively for religious, cha ritab le ,

scientific, lite r ary, o r educational purpos es, o r the preven t ion of cruelty to childre n or animals. (Complete P arts I , II , and III . )

❑ For a section 50 1 (c)(7), (8), o r (10) organiza tion filing Form 990, o r Form 990-EZ , t hat received from any one contributor,d uring the yea r, some contributions for use exclusively for religious, charitable, etc ., purposes, b u t these contributions did

not agg regate to mo r e than $1 ,000 . ( If this box is chec k ed, enter here th e t ota l contri butions that we re r eceived d uringthe year for an exclusively r eligious, ch aritable, etc ., purpose . Do not complete any of the Parts unless the General Ruleapplies to this organization because it received nonexclusively religious, charitable, etc ., cont r ibutions of $5,000 or mor e

during the year .) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . t $

Caution : Organizations that are not covered by the General Rule and/or the Special Rules do not file Schedule B (Form 990,990-EZ, or 990-PF), but they must check the box in the heading of their Form 990, Form 990-EZ, or on line 1 of their Form

990-PF, to certify that they do no t meet the filing requiremen ts of Schedule B (Form 990, 990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructionsfor Form 990 and Form 990-EZ.

JSA

3E1251 1 000

4XZOIE 1546 22630-448

Sch ed ul e B (Form 990, 990-E 2 , or 99 0 -PF ) (2003)

Schedu le B ( Form 990. 990-EZ , or 990-PF ) (2003)

Name of o rg a n iz ation FLINN FOUNDATION Employ er identification n u mbe r

86-0 42147 6

Contributors (See Specific Instructions . )

(a) (b) (c) (d)No . Name , address , and ZIP + 4 Aggregate contributions Type of contribution

1 DR . ROBERT FLINN IRREVOCABLE TRUST Person X

PayrollBANK OF AMERICA , TRUSTEE , 1201 MAIN ST . 1 , 026 , 526 . Noncash

(Complete Part II if there isDALLAS , TX a noncash contribution .)

(a) (b) (c) (d)No. Name , address , and ZIP + 4 Aggregate contributions Type of contribution

2 VARIOUS CONTRIBUTIONS < $5 ,000 Person

Payroll356 . Noncash

(Complete Part II if there isa noncash contribution . )

(a)No.

(a)No .

(b)a ss. and ZIP + 4

(ss, an d ZIP + 4

(c) (d )contributions Type of contributio n

PersonPayroll

Noncash(Complete P art II if the re isa noncash contribution . )

(c) i (d )contributions Type of contributio n

Person

PayrollNoncash

(Complete P art II if there isa noncash contribution . )

(a)No .

(a)No .

Name, address, and ZIP + 4

(b)Name, ad d ress, and ZI P + 4


PersonPayroll

Noncash

(Complete Part II if there isa noncash contribution .)


Person

PayrollNon cash

(Complete Part II if there isa noncash contribution . )

JSA

3E1253 1 00 0

4XZOIE 1546

S chedule B (Form 990, 990-E 7, o r 990 -AF ) (2003)

22630-448

to of Part

FLINN FOUNDATION

FORM 990PF , PART I - OTHER INCOME

DESCRIPTION

GRANT REFUNDS & CANCELLATIONS

PARTNERSHIP INCOME PER BOOKSPARTNERSHIP K-1 INFORMATION :

INTEREST INCOMEDIVIDEND INCOME

ROYALTY INCOME

ORDINARY INCOME/ (LOSS)PORTFOLIO INCOME

TAMARACK GAS AND OIL COMPANY - ROYALTIES

OTHER INCOME

TOTALS

86-042147 6

REVENUEAND NET

EXPENSES INVESTMENTPER BOOKS INCOME--------- ------

236 , 884 . NONE

433 , 454 . NONE

395,7 47 .1 , 292 , 315 .

5 77 , 586 .433, 90 4 .152 , 615 .

28 , 763 . 28 , 763 .

3 , 086 . 3 , 086 .- --- -- - ---- - - - -- --- -- ---- -- -

702 , 187 . 2 , 884 , 016 .

4XZOIE 1546 22630 -448 STATEMENT 1

FLINN FOUNDATION

FORM 990PF , PART I - ACCOUNTING FEES------------------------------------

DESCRIPTION

ACCOUNTING FEES - TAX RETURN

TOTALS

86-042147 6

REVENUEAND NET ADJUSTED

EXPENSES INVESTMENT NET CHARITABLEPER BOOKS INCOME INCOME PURPOSES--------- ------ ------ --------

10, 44 3. 5,222. 5,221.-------------- -------------- -------------- --------------

10,4 4 3. 5,222. NONE 5,221 .


FLINN FOUNDATION

FORM 990PF , PART I - OTHER PROFESSIONAL FEES

DESCRIPTION

INVESTMENT MANAGER FEES

CUSTODY FEESCONSULTANT FEES

OTHER INVESTMENT EXPENSE

AUDIT FEES

TOTALS

86-0 421476

REVENUE

AND NETEXPENSES INVESTMENT

PER BOOKS INCOME-------- - ----- -

70 , 778 . 70 , 778 .

15 , 512 . 15 , 512 .142 , 004 . 142 , 004 .

9 , 816 . 9 , 816 .28 , 000 . 14 , 000 .

--- - -- -------- --- - ----------

266 , 110 . 252 , 110 .

CHARITABLE

PURPOSE S

14 , 000 .-------- - - --- -

1 4 , 000 .

4XZOIE 1546 22630-448 STATEMENT 3

FLINN FOUNDATION

FORM 990PF , PART I - TAXES----------------------------------------------------

DESCRIPTION

PROPERTY AND OTHER TAXES

ACCRUED EXCISE TAX

ON INVESTMENTSDEFERRED EXCISE TAX

ON INVESTMENTSK-1 FLOW THRU FOREIGN TAX PAID

TOTALS

86-042147 6

REVENUE

AND NETEXPENSES INVESTMENT

PER BOOKS INCOME--------- ------

80,300 . 8,030 .

32,214 . NONE

210,873. NONE39,618 .

-------------- --------------323,387 . 47,648 .

-------------- ---------------------------- --------------

CHARITABLE

PURPOSES

72 , 270 .

NONE

NONE

--------------72 , 270 .


FLINN FOUNDATION 86-0421476

FORM 990PF, PART I - OTHER EXPENSES----------------------------------------------------------------------

DESCRIPTION

PARKING FEES

BOARD EXPENSES

INSURANCE

AUTO LEASE

CONSULTING FEES

TEMPORY HELP

PROFESSIONAL DEVELOPMENT

SUBSCRIPTIONS AND REFERENCES

MEETINGS & PROGRAMS

EQUIPMENT & REPAIRS

UTILITIES

TELEPHONE / FAX

OFFICE SUPPLIES

POSTAGE & SHIPPING

BANK & PAYROLL FEES

MISC EXPENSES

REVENUEAND

EXPENSESPER BOOKS

1 , 509 .

8 , 743 .

19 , 020 .

8 , 950 .

51 , 126 .

4 , 721 .

4 , 165 .

19 , 202 .

69 , 816 .

78 , 791 .

44 , 438 .

15 , 098 .

24 , 250 .

7 , 166 .

1 , 726 .

3 , 432 .

NETINVESTMEN T

INCOME

151 .

874 .

660 .

895 .

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

173 .

NONE

CHARITABLEPURPOSES

1 , 358 .

7 , 868 .

18 , 360 .

8 , 055 .

51 , 126 .

4 , 721 .

4 , 165 .

19 , 202 .

69 , 816 .

78 , 791 .

44 , 439 .

15 , 098 .

24 , 250 .

7 , 166 .

1 , 554 .

3 , 431 .


FLINN FOUNDATION

FORM 990PF , PART I - OTHER EXPENSES-------- --------

DESCRIPTION

PORTFOLIO DEDUCTIONS

GRANT AMORTIZATION

CASH BASIS ADJUSTMENT

TOTALS

86- 042147 6

REVENUEAND NET

EXPENSES INVESTMENTPER BOOKS INCOME--------- ------

NONE 687 , 762 .

537,967 . NONE

NONE NONE-------------- --------------

900, 1 20. 69 0,515 .

CHARITABLEPURPOSE S

NONE

NONE

-37 , 493 .--------------

321 , 90 7 .


FLINN FOUNDATION

FORM 990PF , PART II - OTHER INVESTMENTS

DESCRIPTION

GMO US CORE FUND

ARTISIAN INTERNATIONALEII REALTY (REIT)

PIMCO TOTAL RETURN II FUNDPIMCO TIPS

DODGE & COX INCOME FUNDTCW III B

STEINBERG P - MIDCAP VALUE

WESTPORT SMALL CAP VALUEWESTCAP SMALL/MID CAP GROWTH

TCW SMALL CAP GROWTHADAGE CAPITAL PARTNERS , LPTAMARACK PETROLEUMPARKSTREET PE FUND VTA REALTY VIMAVERICK FUND

FARALLON , LPDAVIDSON KEMPNER , L . P .PERRY PARTNERS

OAKTREE OPPORTUNITIES FUND , LPSILCHESTER

DOVER STREET

COMMONFUND INT 'L P . E . I I I , LPTIFF LP

MERIT ENERGY PARTNERSHIPTUCKER ANTHONYCOMMONFUND VENTURE PARTNERS

STANDARD PACIFIC CAPITAL

BEGINNING

BOOK VALUE

18 , 966 , 772 .6 , 923 , 360 .4 , 362 , 832 .

10 , 019 , 512 .6 , 278 , 810 .8 , 978 , 906 .

28 , 083 .5 , 822 , 568 .7 , 426 , 883 .

NONE2 , 161 , 401 .

20 , 458 , 507 .

57 , 500 .NONE

NONE6 , 334 , 1 0 6 .4 , 028 , 0 3 4 .4 , 135 , 277 .7 , 163 , 564 .1 , 391 , 989 .13 , 875 , 025 .2 , 789 , 227 .

528 , 659 .454 , 296 .

1 , 654 , 334 .402 , 556 .13 , 744 .

NONE

86-0421476

ENDING

BOOK VALUE

23 , 692 , 850 .8 , 853 , 509 .

NONE10 , 068 , 293 .

6 , 273 , 324 .9 , 084 , 375 .

27 , 482 .7 , 471 , 449 .8 , 573 , 828 .4 , 843 , 739 .

NONE

26 , 870 , 004 .115 , 050 .

3 0 , 7 77 .1 , 941 , 719 .3 , 688 , 063 .5 , 045 , 7 3 9 .4 , 686 , 303 .3 , 324 , 530 .

971 , 476 .18 , 519 , 590 .3 , 273 , 469 .

975 , 053 .1 , 027 , 645 .3 , 761 , 107 .

661 , 063 .43 , 409 .

2 , 954 , 612 .

ENDING

FMV

23 , 692 , 850 .8 , 853 , 509 .

NONE10 , 068 , 293 .6 , 273 , 324 .9 , 084 , 375 .

27 , 482 .7 , 471 , 449 .8 , 573 , 828 .4 , 843 , 739 .

NONE26 , 870 , 004 .

115 , 050 .

30 , 777 .1 , 941 , 719 .3 , 688 , 063 .5 , 045 , 739 .4 , 686 , 303 .3 , 324 , 530 .

971 , 476 .18 , 519 , 590 .3 , 273 , 469 .

975 , 053 .1 , 027 , 645 .3 , 761 , 107 .

661 , 063 .43 , 409 .

2 , 954 , 612 .


FLINN FOUNDATION

FORM 990PF , PART II - OTHER INVESTMENTS

BEGINNINGDESCRIPTION BOOK VALUE----------- ----------

TOTALS

- -------- -- ----

134 , 255 , 945 .---------------

86-042147 6

ENDINGBOOK VALUE

--- --- - -- - --- --

156 , 778 , 458 .

ENDINGFMV

- -- -- --- - ---- --

156 , 778 , 4 5 8 .


FLINN FOUNDATION

FORM 990-PF, PART II - FIXED ASSETS

LANDBUILDINGFURNITURE & FIXTURESOTHER

LESS : ACCUMULATED DEPRECIATIONTOTAL

86-0421476

$ 1,797,9693,732,700

621,86180,000

6,232,530$ (1,002,492)$ 5,230,03 8

STATEMENT 9

FLINN FOUNDATION

FORM 990PF , PART II - OTHER ASSET S

DESCRIPTION

CONTRIBUTIONS RECEIVABLE

OTHER RECEIVABLESINTEREST AND DIVIDEND S

RECEIVABLEPREPAID EXCISE TAXOTHER PREPAIDS

INVESTMENT SALES RECEIVALBLE

TOTALS

BEGINNING

BOOK VALUE

18 , 358 .2 , 000 .

262 , 564 .173 , 787 .17 , 771 .

NONE---------------

474 , 480 .

86-042147 6

ENDING

BOOK VALUE

NONE

13 , 777 .

274 , 885 .157 , 786 .

26 , 956 .45 , 143 .

---------------

518 , 547 .

ENDINGFMV

NONE13 , 777 .

274 , 885 .157 , 786 .26 , 956 .45 , 143 .

---------------

518 , 547 .


FLINN FOUNDATION ~

FORM 990PF , PART II - OTHER LIABILITIES--------------------------------------

DESCRIPTION

FED EXCISE TAX PYBLE -DEFERRED

TOTALS

BEGINNINGBOOK VALUE

NONE

- ---- ------- ---

NONE

86-0 4214 7 6

ENDING

BOOK VALUE

210 , 873 .

-- -------- ---- -

210 , 873 .

STATEMENT 1 1

4XZOIE 1546 22630-448

FLINN FOUNDATION- 86-042147 6

FORM 990PF , PART III - OTHER INCREASES IN NET WORTH OR FUND BALANCES--------------------------------------------------------------------

DESCRIPTION

CURRENT YEAR UNREALIZED NET GAIN ONINVESTMENTS NOT INCLUDED IN COLUMN (A )

TOTAL

AMOUNT

27 , 092 , 318 .

-- ------------

27 , 092 , 318 .

STATEMENT 12

4XZOIE 1546 22630-448

FLINN FOUNDATION 86 - 0421476Schedule D Detail of Short-term Capital Gains and Losses

Date Date Gross Sales Cost or Other Short-termDescription Acquired Sold P rice Basis Gain/Loss

POST-MAY 5TH CAPITAL GAINS (LOSSES )

EII REALTY FUND VAR 11/01/2003 5,491,399 . 4,467,502 . 1,023,897 .STEINBERG PRIEST MIDCAP VALUE VAR 06/01/2003 11934,070 . 1,817,414 . 116 656 .WESTCAP SMALL MID CAP GROWTH VAR 11/30/2003 330 710 . 328 170 . 21540 .BOWMAN TRUST SECURITIES VAR 09/30/2003 9 3 1 3 54 . 941 11 6 . -9,762 .WESTPORT SMALL CAP VALUE FUND VAR 11/01/2003 1,200,000

-

80 5 97 0 . 3 94 0 3 0 .PERRY PARTNERS LP VAR 05/30/2003 4,850,971 . 2,610,433 . 2,240,538 .K-1 PASS THRU ST GAIN VAR VAR 1,61-6,056 .K-1 PASS THRU ST LOSS VAR VAR -27,171 .

TOTAL POST-MAY 5TH CAPITAL GAINS (LOSSES) 14 738 504 . 10 970 605 . 5,356,784 .

CAPITAL GAINS (LOSSES) HELD FOR INVESTMENT PURPOSES

K-1 PASS THRU ST GAIN VAR VAR 1,616,056 .K-1 PASS THRU ST LOSS VAR VAR -27,171 .

TOTAL CAPITAL GAINS (LOSSES) HELD FOR INVESTMENT PURPOSES 1 588 885 .

Totals 1,588,885 . 1

JSA

3F0977 1 000

4XZOIE 1546 22630 -448 STATEMENT 12A

FLINN FOUNDATION 86 - 0421476Schedule D Detail of Long-term Capital Gains and Losse s

JSA

3F0970 1 00 0

4XZOIE 1546 22630 -448 STATEMENT 1 2A


FORM 990-PF , PART XVI-A - ANALYSIS OF OTHER REVENU E

DESCRIPTION

OTHER INCOME

TAMARACK PETROLEUMROYALTIES

PARTNERSHIP NETPORTFOLIO INCOME

BUSINESSCODE

525990

AMOUNT

34 , 614 .

EXCLUSIONCODE

14

15

16

AMOUNT

3 , 086 .

28 , 763 .

398 , 840 .

RELATED OR EXEMPT

FUNCTION INCOME---------------


FLINN FOUNDATION

Part VII, Question la .

86-0421476

During 2003, the Flinn Foundation's officers and directors contacted its U .S. Senatorsand U.S. Representatives regarding proposed legislation under the Charitable Giving Actof 2003, H .R. 7, the provisions of which would eliminate all administrative expenses,including those incurred in connection with direct charitable activities, from

consideration in fulfilling the 5% minimum qualifying distribution requirementapplicable to private foundations, such as the Flinn Foundation . Such contact ispermissible under the "self-defense" exception to the taxable expenditure rules under

Internal Revenue Code Section § 4945(e)(2) and Treasury Regulation § 53 .4945-2(d)(3)(i) .

STATEMENT 14

The Flinn FoundationDecember 31, 2003

86-0421476Officers and Directors (Part VIII, Line 1 )

Avg. Hours Employee Expense Acct .Name and Address Per week Benefit Plan Allowance Comp .

Robert A . Brooks, M .D. 83 Average None None 20,000

Director Hours Yearly

1802 North Central Ave.Phoenix, AZ 85004

David R. Frazer 91 Average None None 22,000

Vice Chair* Hours Yearl y1802 North Central Ave.Phoenix, AZ 85004

David J . Gullen, M .D. 98 Average None None 32,500Chairman* Hours Yearl y1802 North Central Ave .Phoenix, AZ 85004

E. V. O'Malley, Jr. 83 Average None None 20,000Treasurer Hours Yearly1802 North Central Ave.Phoenix, AZ 85004

Jack Pfister 83 Average None None 20,000Director Hours Yearly

1802 North Central Ave .Phoenix, AZ 85004

Rosellen Papp 83 Average None None 20,000Director Hours Yearly1802 North Central Ave .Phoenix, AZ 85004

Eric Reiman, M.D. 83 Average None None 20,000Director Hours Yearly1802 North Central Ave .Phoenix, AZ 85004

Statement 15

The Flinn Foundation

December 31, 200386-0421476Officers and Directors (Part VIII, Line 1 )

Avg . Hours Employee Expense Acct .Name and Address Per week Benefit Plan Allowance' Comp .

W. Scott Robertson 83 Average None None 20,000

Director Hours Yearly1802 North Central Ave .Phoenix, AZ 8500 4

Jay S . Ruffner 83 Average None None 20,000Secretary Hours Yearly1802 North Central Ave .Phoenix, AZ 8500 4

Steven M. Wheeler 83 Average None None 20,000Director Hours Yearly

1802 North Central Ave .Phoenix, AZ 85004

Lisa Wilkinson- Fannin 83 Average None None 20,000Director Hours Yearly1802 North Central Ave .Phoenix, AZ 85004

John W. Murphy Full Time 51,591 None 212,000President & CEO 2,350 Averag eAssistant Secretary Hours Yearly1802 North Central Ave .Phoenix, AZ 85004

Don P. Snider Full Time 26,047 None 110,500Chief Financial Officer 2,350 AverageAssistant Treasurer Hours Yearly1802 North Central Ave .Phoenix, AZ 85004

Total $77,638 $557,000

* Additional compensation for duties performed in excess of those regularly performed by officersand directors .

Statement 15Continued

The Flinn FoundationDecember 31, 200386-0421476

Direct Chari table Activities (Pa rt IX-A)

1 . Flinn Scholars

In partnership with Arizona's public universities the Foundation awards 20 full-cost

scholarships to Arizona's top high school seniors for 8 semesters of study at one of threestate universities . The Foundation supplements the direct cost of campus study throughcareer counseling, cultural and group activities, and travel to Hungary and Romania to

participate in a three-week seminar on NATO and the European Economic Union .

$391,660

2 . Biomedical Research and Medical Educatio n

The Foundation's historical focus on the biosciences expanded when its Board ofDirectors voted to focus all of its healthcare funding on this area over the next 10 years .In 2002, the Foundation issued its largest grant ever - $15 million - for the start-up costsof the Translational Genomics Research Institute, a collaborative research entity among

Arizona's public universities, research institutes, and the International GenomicsConsortium . This grant will provide funding for biomedical research through the end of2005 .

The Foundation is also funding a major multi-year study of Arizona's biosciences sectorby the Battelle Memorial Institute, one of the world's largest nonprofit research anddevelopment organizations. This will lead to a comprehensive assessment of Arizona'scompetitiveness in the biosciences and a "roadmap" to long-term success .

The Foundation is continuing to fund older bioscience initiatives, including university-based interdisciplinary research collaborations to strengthen research in the basic life andbiomedical sciences ; and a series of projects designed to strengthen programs of theUniversity of Arizona College of Medicine in the Phoenix area .

$735,266

Statement 16

3. Visual and Performing Arts

For the past 19 years, the Foundation has committed its resources to further the statedartistic mission and strengthen the institutional capacity of Arizona's principal producingvisual and performing arts organizations . These organizations must meet increasingdemands for artistic growth and excellence while addressing ongoing issues of financialstability and long-term institutional advancement. In addition to direct grants, theFoundation hosts meetings and consultants on long-term financial, management, andartistic stability of these organizations .

During 2003, the Foundation in partnership with three Arizona foundations retained the

consulting expertise of the Battelle Memorial Institute to assist key business, government,and nonprofit leaders in the formation of the Maricopa Regional Arts and Culture TaskForce . The objectives of this alliance are threefold: 1) making a business case forfurthering arts and culture in the region ; 2) securing public input and engagement ofcommunity leadership in the formation of a regional strategy for arts and culture ; 3)supporting the strategy's roll-out and dissemination .

$241,753

4. Conference Progra m

The Flinn Foundation owns and operates a conference facility that it uses to convenebusiness, government, and charitable organizations sharing common charitable objectiveswith the Foundation . When not in use by the Foundation, the facilities are available toqualified nonprofit organizations at no cost .

$246,988

$1,615,667

For additional information, see the Grant Summary Section of the Foundation's most recentAnnual Report.

Statement 16Continued

THE FLINN F OU N DA TI ON

TAXPAYER I D 86-042 1 476

G RAN T ACTIVITY REPO RT

12/3 1 /2003

UNPA ID

APPR GRANT NAMEA N D ADDRESS O RGANIZATIONAL 2003 BALANC E

DAT E NU MBER OF RECIPIENT INDIVIDUAL' STATUS PU RP OSE O F GRANT PAY MENTS 1 213 1 2003

03-0I 1 451 ACTO RS THEATR E OF PHOENIX NO CONTR IBUTION/ ARTISTIC ADVANCEMENT REPE RTOIRE 100,621 43,310

PH OENIX , AZ 85001 ADMI SSI ON-SUPPOR TE D

ORGANIZATION

02-03 1 569 A RI ZONAN'S FOR CULTURAL DEVELOPM ENT NO CONTRIBUTION- GOV ERNO R'S ARTS AWA RDS DI NNER 2,000 0

PHOENIX, AZ 85003 SUPPORTE D

ORGANIZATION

07-03 1 583 ARIZONAN'S FOR CU LTURAL D EVELOPM ENT NO CONTRIBUT IO N - 2003 PARTNERSHIP CONF EREN CE 4,8 27 0

PHOENIX, AZ 85003 SUPPOR TE D

ORGANIZATION

07-03 1 590 ARIZONA A D O LESCENT HE ALTH COALI TI ON NO PU BLI C C HARITY CREATING R ESOUR C E S FO R AD O LESC EN TS 5,000 0

PHOENIX, AZ 65067

11-03 1 585 ARI ZONA COMMUNITY FOUNDATION N O P U BLI C C HARITY ANDREA LI GAS MEM ORIAL SC HOLARSHIP 10,800 0

PHOENIX, AZ 850 1 6

05-03 1 572 AR IZONA DISEASE CONTROL R ESE ARCfI NO STATE 2003 BIOSCIENCE SYM POSI UM 25 000 0

COM MISSION GO V ER N M ENT AL

PHOEN IX , AZ85007 UN IT

03-03 1572 ARIZONA GRANTMAKERS FORUM NO MEMBERSHI P- ORGANIZATIONAL DEVELOPMENT 5,000 0

PHOENIX, AZ 950 18 SU PP ORTE D

ORGANIZATI ON

03-03 1 567 ARIZONA G RANTMA KER S FOR U M NO MEMBERSHIP- 2003 M E M BERS H IP DUES 3,000 0

PHOEN IX, AZ 85018 SUPPORTE D

O RGANIZA TI ON

06 -99 11 9 1 ARIZONA STAT E UNIVERSITY NO STATE 1 999 SCHO LAR S H I P AWARDS 3,600 0

TEMPE, AZ 85287 UN IV ERSITY

0600 1405 ARIZONA STATE UNIVERSITY NO STATE 2000 SCHOLARSHI P AWA RDS 28,800 0

TEMP S, AZ 85287 UNIVERSITY

06-01 1521 ARIZONA STATE UNIVERSITY NO STATE 2001 SCHOLARSHIP AWARDS 28,800 43,200

TEMPS, AZ 85287 UNIVERSITY

06-02 1544 ARIZONA STATE UNIVERSITY NO STATE 2002 SCHOLAR SHIP AWARDS 7,200 14,400


06-03 1599 ARIZONA STATE UNIVERSITY NO STATE 2003 SCHOLARSHIP AWARDS 36,000 108,000


STATEMENT 17

THE FLINN F OUNDAT ION

TAXPAY ER I D 86-042 1 476

GRAN T ACTIVITY REPO RT

12/312003

UN PAI D

A P P R GRANT NAM E AN D ADDRESS O RGANIZATIONAL 2003 BA LANC E

DATE NUMB ER OF REC IPIENT INDIVIDUAL' STATUS PU RP OS E OF G RAN T PAYMENTS 12/31/2003

11 -00 1 4 1 0 A RI ZONA S TATE UNIVERS ITY NO STAT E STU DY OF K I D SCARE PR OG RAM IM P A CT ON 169,484 0

TEMPE, AZ 85287 UNIVERSITY YUMA COUNTY (PHASE I q

1 2-00 14 26 AR IZON A STATE UNIVERSITY NO STATE BIOENGIN EE RING R ESEARCH AND EDUC ATION 0 447,095

T EMPE, AZ 85287 UNIVERSITY

12-03 1579 AR IZONA STATE UNIVERSITY NO STATE SURVEY OF STATEWIDE PHYSICIANS 0 104,848

TEMPE, AZ 85287 UNIVERSIT Y

03-0I 1436 ARIZONA TH EATR E CO MPANY NO CONT RIBUTION/ ARTISTIC DEVELOPMENT INITIATIVE 43,055 0

TUCSO N , AZ 85702 ADMISSI ON-SUPPOR TE D

ORGANIZATIONAL

03-01 14 56 BALLET ARIZONA NO CONTRIBUTION/ MARKETING & DEVELOPMENT A DVANCE MENT 8 1 ,269 4 2,984

PH OENIX , AZ 850 18 ADMI SSI ON-SU PPORTE D

ORGANIZATIONAL

12-03 1 557 BATTELL E M EM ORIAL INSTITUTE NO PUB LIC C H A RITY STU DY AND IMPLEM E NTATION OF STRATEGI ES 350,000 0

COLUMB US, O HI O 43201 T O DE VELOP A RIZONA'S BI OSCIENC E

RESEAR CH S ECTOR

03-03 1578 BATT ELLE ME MO RIAL INSTITUTE NO P U BLI C CHARITY ANALY S I S OF ARTS AND CULTURE IN 80,834 55,000

COLUMB US, OH I O 43021 MARI CO PA COUNTY

10-00 1 379 CO MM UNITY FOUNDATI ON OF SOUTHERN NO PU BL IC CHARI TY PIMA CNTY CO MM COO RDINAT ION NETWORK 12,500 0

ARIZON A

TUCSON, A Z 8571 9

09- 03 1 575 CONF ERENC E O F SOUT HWEST FOUNDAT I ON S N O M E MB E R S HIP - 2003 CONF E R E NCE 5,000 0

DALLAS, TX 7520 1 SU P PO RTED

ORGANIZATION

09-03 1 576 CON F EREN C E O F SOUTHWEST FOUNDAT IONS N O MEMBERS HIP- 2003 ME MBERS HIP DU ES 3,500 0

DALLAS, TX 7520 1 SUPPORTED

ORGANIZATION

0 6 -98 953 F LINN FOUNDATI ON NO DIRECT 1 998 SCHOLARS TRA VEL PR O GRAM 2,500 0

PHO ENIX, AZ 85004 CH AR ITAB L E

ACTIVITY

06-99 119 0 F LINN FOUNDATION NO DIRECT 1 999 SCH O LAR S TRA VEL PR OGRAM 15,450 3 7 ,583

PHOENIX, AZ 85004 CHARITABL E

ACTIVITY

06-00 1 406 FLI NN FOUNDATION NO DIRECT 2000 SCHOLARS TRAVEL PROGRAM 19,968 54,834

PHOENIX, AZ 85004 CHARITABLE

ACTIV I TY

STATEMENT 17Continued

TH E FLINN FOUN D ATI ON

TAXPAYE R I D 86-042 1 476

GRANT ACTIVITY R EPOR T

12/31/2003

UNPAID

A PP R G RANT NAM E A ND ADDRESS ORGANIZATIONAL 2003 BALANC E

DAT E NUMBER OF RECIPIENT INDIVIDUAL' STATUS PU R POS E OF GR ANT PAYMENTS 1 215 1 2003

06-01 1522 FLINN FOUNDATION NO DIRECT 200 1 SCHOLARS TRAVEL PROGRAM 49,994 84,65E

PHOENIX, AZ 85004 CHA RITABL E

ACTIV ITY

D6-02 1 547 F LINN FO UN DATI ON NO DI RECT 2002 SC H OLAR S TRAV EL PROG RAM 22,479 1 36,471

PHOENIX, AZ 85004 CHARITABL E

ACTI VITY

06-03 1 582 F LINN FOUNDATION NO 2003 SCHO LAR S TRAVEL PROG RAM 0 1 52,000

PHOENIX, AZ 85004

D4-99 1088 G EORG E W AS H INGTON UN I VER SITY NO EDUCATIONAL AR IZONA SITE VISITS BY NATI ONAL HEALTH 10,524 C

WASHINGTON, DC 20052 ORGANIZATION POLICY FORU M

1 2-03 1 573 G RANTMAKE RS IN HEAL TI i NO M EMBER SH IP- 2003 P ROG RAM SUPPORT 5,000 C

W AS HI NGTON , DC 20052 SU PPORTE D

ORGANIZATION

11-03 1 586 G RANT MAKERS IN THE ARTS NO MEMB E R SH I P- 2003 CONF ERENC E 2,000 0

SEATTLE, WA 98119 SUP P ORTED

O RGANIZATION

1 2-02 1513 INSTITUTE OF INTERNATIONAL EDUCATION NO EDUCATIONAL SEMINARS IN BUDAPEST HUNGARY AND 38,497 0

N EW YORK , N Y 10017 ORGANIZATION ROMANIA FOR TH E CL ASS OF 2002

12-03 1556 INSTITU TE OF INTE RN ATIO NAL EDUCATI ON NO EDUC ATI ON AL SEMINARS IN B U DA PEST HUNGARY AND 22,364 44,728

NEW YORK, NY 10017 O RGANIZATION ROMANIA FOR THE CLASS OF 200 3

10-99 1 205 MUS E UM OF NORTHERN ARIZ ONA NO CONTRIBUTION/ PLANNING MA GI C OF TH E P AINTED ROOM 6 1,055 0

FL A GSTAFF, AZ 8600 1 A DM ISSION-SU PPO RT ED INTE RNATI ON AL EXHIBITI O N

ORGANIZATIONAL

)3-07 1 574 NATI ONAL ARTS STABI LI ZATION FUND NO CONTRIBUTION- 2003 EXECUTIVE EDUCATION PR OGRA M FOR 10,000 0

WAS H INGTO N , DC 20005 SU PP ORTED ARTS LEAD E R S

ORGANIZATION

10-0 1 1508 NATIONA L AR TS STABI L IZATION FUND NO CONTRIBUTION- EXECUTIVE EDUCATION P ROG RAMS 50,580 149,420

W AS H INGTON, DC 20005 SUPP ORTED

O RGANIZATI O N

10-01 1 509 NATIONAL A R TS STABI L IZATAION FUND NO CONTRIBUTION- TECHNICA L ASSISTANCE RESERVE FUND 0 120,000

WASHINGTON, DC 20005 SUPPORTED

ORGANIZATION

)6-99 1189 NORTHERN A RIZONA UNIVERSITY NO STATE i9,995CHOLARSHIP AWARDS 3,6(H) 0

FL AGSTAFF, AZ 860 11 UNIVERSITY


THE F LINN FOUNDATI O N

TAXPAYE R ID 86-042 1 476

GRANT ACTIVITY REPORT

1 2/3 1 2 003

UNPAID

APPR GRA N T NA M E AND A DD RESS OR G A N I ZAT IONAL 2003 BALANCE

DATE NUM B E R OF REC IPIENT INDIVIDUALS STATUS PURPOSE OF G RANT PA YMENTS 1 2/3 1 2003

06-00 14 07 NORTHE RN ARIZON A UNIVERSITY NO ST A TE 2000 SCHOLARSHIP A WARDS 180W 3,60 0

FLAGSTAFF, A Z 860 11 UNIVERSITY

I0-98 959 NORTHERN A RIZONA U N IVERSITY NO STA TE SUPPORT FOR SCIENCE TEACHER P R E PARATI ON 80,775 117,72 5

FLAGSTAFF, AZ 8601 1 UNIVERSI TY

05-01 1 488 OXFORD UNIVERSITY NO UNIVERSITY S W ANSON SCHOL A RSH IP - 2001 9,3 44 0

OXFORD OX12fD

ENDL AN D

03-00 1 256 PHOENI X CHILDREN'S HOSPITAL NO HOSPITAL MOBIL M EDI CA L OUTR EACH FOR HO MELESS 1 53,793 0

PHOENIX, AZ 8506 AND R UNAW A Y YOUTH

03-00 1 297 PHOENIX SYMPHONY NO CONTRIB UTION/ STABILIZ ATI ON OF ARTISTIC LEADER S HIP 23,000 1 09,975

P HOENIX, AZ 85004 A DMISS I ON-SU PP O RTED

O RGANIZATI ON A L

03-01 1454 PHOEN I X SYM PHONY NO CONT RIB UTION/ M ARKETING & AUDIENCE DEV EL O PM ENT 80,00 1 0

PHOENIX, AZ 85004 ADMISSION-SUPPO RT E D

ORGANIZATIONA L

08-02 1 58 1 TH E TRANS LA TIONAL G ENOMICS NO P U BL IC CHARITY STA RT -UP OF RES EAR C H PR OG RA M S 4,89 1 ,774 9,000,00 0

RES EA RCH INSTITUTE

PHOENIX, AZ 85004

03-00 1300 TUCSON SYMPHONY ORCHESTRA NO CON TRIBUTION/ ORCHESTRAL DEVELOPMENT INITIATIVE 100,355 40,51 8

TUCSON, AZ 85701 ADMI SSI ON-SUPPORTE D

OR GA NI ZATIONA L

06-00 1 3 1 6 UNI VER SI TY OF ARIZONA NO STA TE CANCER RES EAR C H FELLO WS H I P IN SU PP ORT 1 57,682 0

TUCSON, AZ 85733 UNIVERSITY OF SCOT EBBMGHAUS, M D

09-03 1580 UN I V ER SITY OF AR IZONA NO STATE CANCER RESEAR C H FELLOWSHIP IN SUPPORT 37,500 2 62,500

TUCSON, AZ 85733 UN I VERSITY OF SCOT EB B INGHAUS, M D (CONTINUING

RESEARCH )

12-97 661 UNIVERSITY OF A RIZONA NO STATE BIOLOGICAL MAGNETIC RESONANCE IMAGING 78,830 16 51 3

TUCSON, AZ 85733 UNIVERSITY AND SPECT ROSCOPY RESEARC H

12-97 753 UNIVERSITY OF A RIZONA NO STATE DEVELOPMENTAL NEUROSCIENCES RESEA RCH 15,467 46,103

TUCSON, AZ 85733 U N IVERSITY

03-01 14 70 UNIVE RS ITY OF A RIZONA N O STATE PLANN ING GRAN T PHYS ICI AN RETRAINING 1 2,383 0

TUCSON, AZ 85733 U N IVER SITY


THE FLINN FOUNDATI ON

TAXPAY E R ID 86-0 42 1 476

G RANT ACTIVI T Y REPORT

1 2f312003

UNPAID

APPR GRANT NAME AND ADDRESS ORGANIZATIONAL 2003 BALANCE

DATE NUMBE R OF RECIPIENT INDIVIDUAL' STATUS PUR POSE OF GRANT PAYMENTS 121312003

0S-0 I 1483 UNIVE RSITY OF A RIZONA NO STATE PH OEN IX AR E A MEDICAL ED UCAT ION 1 62,556 1 90,847

TUCSON, AZ 85733 UNIVERSITY COUN CIL

05-01 1448 UNIVER SITY OF ARI ZONA NO ST ATE RESEARC H CON SO R TIU M 0 462,468

TUCSON, AZ 85733 UNIVERS ITY

06-99 1188 UNIVERSITY OF ARIZONA FOUNDATION NO EDUCATIONAL 1999 SCHOLARSHIP AWARDS 25,200 0

TUCSON, AZ 8572 1 FOUN DATION

06-00 1408 UNI V ER SI TY OF ARI ZONA FOUNDAT ION NO E D UCATIONA L 2000 SCHOLARSHIP AWARDS 6 1 ,200 39,600

TUCSON, AZ 85721 FOUNDAT I ON

06-0I 1523 U N IV ER SITY OF ARIZONA FOUNDATION NO E DUCATIONAL 2001SCHOLARSHIP AWARDS 100,800 118,9 W

TUCSON, A Z 8572 1 FOUNDAT I ON

U6-02 15 4 5 U NI VER SITY OF ARIZONA FOUNDATION NO E D UCATIO NAL 2002 SCHOLAR SHIP AWARDS 1 26,000 284,4 00

TUCSON, AZ 85721 FOUNDATION

06-03 1 600 UNIVERSITY OF ARIZON A FOUNDATION NO EDUCATIONAL 2003 SC H OLARSIIIP AWARDS 100,800 302,4 00

TUCSON, AZ 8572 1 FOUNDATI ON

06-113 15 4 1 UNIVER SITY OF ARIZ ONA FOUNDATION NO EDUCATIONAL 2003 DONALD K BUFFMIRE VISITING 20,498 0

TUCSON, A Z 85721 FOUNDATION LECTURESHIP

12-97 752 UNIVERSITY OF ARIZONA FOUNDATION NO EDUCATIONAL GENETICS RESEARCH 26,587 0

TUC S ON , A Z 85721 FOUNDATION

1 2-03 1 593 VA LLEY OF THE S UN UNITEDWAY NO PUBLIC 2003 FOUNDATION MATCH OF DIR ECTOR AND 23,500 0

PHOENI X, AZ 85014 CHARITY EMPLOYEE CONTRIBUTIONS

TOTAL $7,626,346 $12,633,977

L ESS D ISCOUNT TO PRES ENT VA LUE - (743,2 1 2)

TO TAL PER G EN ERAL LEDGER $7,626,346 $ 11 ,890,765


Form 8 8 6 5

D ep ar tm e nt o f the Treasu ryI nternal Reven u e Service

Return of U . S . Pe rsons With Res pect toCerta in Foreign Pa rtnerships► Attach to your tax return . See separate instructions.

Information furnished for the foreign partnership's tax year

N ame o f person filing t his return

F iler's address (i f you are not filing this form with your tax return)

18 02 N . CENTRAL AVENUE

PHOENIX , AZ 8500 4 - 1506

(3) Id e nt ifyin g num b e r

Filer's share of liabilities- Nonrecourse $ Qualified nonrecourse financing $ Other $D If filer is a member of a consolidated group but not the parent, enter the follow in g information about the parent ,

Name EIN

Addres s

Informat i on ab ou t certain other partners (see inst ruction s )

(1) N ame

No 1545-166 8

2003A ttach m entSequence N o 1 1 '.

iov - vY" -L

Yi oA Category of filer (see Categories of Filers m the inst ruct ions and check applicable box(es))

1 n 2 n 3 n 4 n

B F iler's tax year beginning O 1J~1 L? 0 0 3 _ and ending 12l 31 Z2 0 0 3 -----

(2) A d dres s

F7 Name and address of foreign partnership

DOVER STREET IV L .P .

CEDAR HOUSE, 41 CEDAR AVENUE

HAMILITON HM 12, BD4 Date of 5 Principal place 6 Principal business

organization of business activity code numberBERMUDA

03/15/1999 523900G Provide the following information for the foreign pa rt nership's tax year

1 Name, address, and identifying number of agent (if any) in theN/United States

3 Name and address of foreign partnership's agent in country oforganization, if an y

N/A

Fi l er's identifying number

Check applicable

1 Cateoorv2

2 E I N (if any)

04 -3 4 5683 13 Country under whose laws organize d

7active

business 1 8a Functional currency I 8b E xchange rate(see mstr )

2 Chec k if the foreign p artnershi p must file,

F orm 1 0 42 El Form 8804 Fx-] F orm 1 065 or 1065-B

Servic e Center w here F orm 1065 or 1065-B is filed

4 Name and address of person(s) with custody of the books andrecords of the foreign partnership, and the location of such booksand records, if different

HARSOURVEST PARTNERS, LLC

ONE FINANCIAL CENTER , 44TH FLOOR

BOSTON , MA 02111

5 Were any s p ecial allocations made by the foreign partnership? ► u Yes U No6 Number of foreign disregarded entities owned by the partnership (attach list) ► 2--------------7 How is this partnership classified under the law of the country in which it is organized? Op. LIMT13D_8 D id the partnership own any separate units within the meaning of R egulations section 1 1503-2(c)(3) or (4 )? . Yes No9 Does this partnership meet both of the following requirements ?

• The partnership's total receipts for the tax year were less than $250,000 and

• The value of the partnership's total assets at the end of the tax year w as less than $600,000 } • ► F~ Yes ❑X NoIf "Yes," do not complete Schedules L, M -1, and M - 2

sign tia ra Under penalties of perjury, I declare that I have examined this return, including accompanying schedules a nd s tat em e nt s, and t o t he best o f myOnly If You knowledg e and belief, i t is t rue, correct , and complete D eclaration o f preparer (ot her than general partner or li m ited liability company member) isnreFdm gThis Fo rm based on all in form a t ion o f w hich preparer has any knowledge.Separatelyand Not Wit hYour Tax ' Signature of general partner or limited liability company memberReturn Date

' DatePaid Preparer Preparers Check i f Preparers SSN or PTINself-Sign and signa t ur e employed ► P00180332Comp l et e

Only If Form F irm 's name (or ERNST & YOUNG LLP EIN ► 3 4 - 6 5 6 5 5 9 6Is Filed yours if self-employed), ' T WO NORTH CENTRAL AVENUE, STE 2300 Phone n oSeparately. address, and ZIP cod e

PHOENIX AZ 85 00 4 602/322-3000r-o -rFa-perwotli: Reduction Act Notice, see t e separate Instructions. Form 8865 (2003)

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Form 8865 (201DOVER STREET IV L . P . 04 -3 4568 3 1

Constructive Ownershi p of Partnersh ip Interest . Check the boxes that if any) U.S. if any)o

person(s) whose interest you constructively own . taxpayerinstructions .

a ❑ Owns a direct interest b Owns a constructive interest

Check ifName Address Identifying number (if any) foreig n

Name

oreign Partnershi

Address Identifying number (if any)

you

erect

C h eck ifforeignpe r so n

Does the partnership have any other foreign person as a direct partner? Yes N o- • - ~ Affiliation Schedule. L ist all partnerships (foreign or domestic) in which the foreign partnership

owns a direct interest or indirectly owns a 10% interest .

Name Address E IN Total ordinary Check ~i fI I (if any) i ncome or loss ,,, ~ , ;, o g h, .

Income Statement - Trade or Business IncomeCaut ion : Include only trade or business income and expenses on lines 1a through 22 below. See the instructions for more information.

1 a Gross receipts or sales, . . . . . . _ . . .b Less returns and allowances 1 b 1 c

2 Cost of goods sold,,,,,,, . . 2

3 Gross profit . Subtract line 2 from line 1c 3E . . . . . . . . . . . . . . . . . . . . . . .0 4 Ordinary income (loss) from other partnerships, estates, and trusts (a ttach schedule) 4

5 Net farm profit (loss) (attach Schedule F (Form 1040)) 56 Net gain (loss) from Form 4797, Part ll, line 18 s7 Other income (loss) (a ttach schedule) , _ . . . . . . . . . . . 7

8 To tal in com e (loss) . Combine lines 3 through 7. 8. . . . . . . . . . . . . . . . . . . . . .9 Salaries and wages (other than to partners) (less employment credits) . . 9

10 Guaranteed payments to partners 10

E 11 Repairs and maintenance 1 1

1 2 Bad debts 12

13 Rent . . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Taxes and licenses 1 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Interest . . . . . . . . . . 15

16 a Depreciation (if required, attach Form 4562), 16ab Less depreciation reported elsewhere on return 1 6b 16ca . . . . .

17 Depletion ( Do not deduct oil and gas depletion .) 1 7

1 8 Retirement plans, etc. . . . . . . . . . . . . . . . . . . . . . 1 8

0 19 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 9

20 Other deductions (attach schedule) 20

21 Total deductions . Add t h e amounts shown in the far right co l umn for lines 9 through 20 2 1

22 Ordina ry income (loss) from trade or business activities . Subtract line 21 from line 8 . .I 22

JSA3X1911 4 00 0

TZ2373 15 4 6 86-0421476

F orm aas rJ ( 2 003 )

DOVER STREET IV L . P . 04 -3 45 6 8 3 1Form 8865 2003 Page 3

-F-MVIT-MME Cap i tal Ga i ns and Losse s

Short-Term Cap i tal Gains and Losses - Assets He ld One Year or Less(a) D escrip t ion of property (b) D a te acquired (c) D a t e sold (d) Sales price (e) Cost or ot her basis (f) Gain or (loss) (g) P ost - M ay 5, 2003,

(e g , 100 shares (month, day, year) (month, day, year) (see instructions) (see instructions) for the entire year. gain or (loss)o f "Z" Co) Subt rac t (a) fro m (d) *(see below)

I

2 Short-term capital ga in from i nsta ll ment sa les from Form 6252, line 26 or 37

3 Short-term capital gain (loss) from like-kind exchanges from Form 882 4

4 Partnership's share of net short-term capital gain (loss), including specially allocatedshort-term capital gains (losses), from other partnerships, estates, and trusts . . . . . ,

5a Combine lines 1 through 4 in column (g) . Enter here and on Form 8865, Schedule K ,line 4d(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 b Net sho rt - term cap i t al gain o r (loss) . Combine lines 1 through 4 in column (f) .

Enter here and on Form 8865, Schedule K, line 4d(2) or 7 Sb

Long-Term Capital Gains and Losses - Assets Held More Than One Year

(a) Description of property ( b ) Date acquired ( c) Date sold (d) Sales price ( e) Cost or other basis (f) Gain or (loss) (g) P ost- May 5, 2003,(e g . , 100 shares (month, day, year) (month, day, year) (see instructions) (see instructions) for the entire year_ I gain or (loss)

7 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . .

8 Long-term capital gain (loss) from like-kind exchanges from Form 8824 . . . . . . . . . .

9 Partnership's share of net long-term capital gain (loss), including specially allocatedlong-term capital gains (losses), from other partnerships, estates, and trusts . . . . ,

10 Capita l gain distributions . . . . . . . . . . . ,

11 Combine lines 6 through 10 in column (g) . Enter here and on Schedule K ,line 4e(1) or 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12 Net long- te rm cap i tal gai n o r (loss) . Combine lines 6 through 10 in column (f) .Enter here and on Form 8865, Schedule K, line 4e(2) or 7 . . 1 2

*Note : Include in column (g) gains and losses from column (fl from sales, exchanges, or conversions (including installment paymentsreceived) a fter May 5, 2003. However, do not include gain attributable to unrecaptured section 1250 gain, "collectibles gains andlosses" (as defined o n page 12 of the instructions), or the eligible gain on qual ified small business stock .

F orm 8865 (2003)

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DOVER STREET IV L . P .F orm 8865 (2 003)

HN0J

dE0vc

1

2

3 a

b

c4

ab

C

d

e

Partners' Shares of Income, Credits, Deductions, etc.

(a) Distributive share item s

Ordinary income (loss) from trade or business activities (enter from Schedule B, line 22)

Net income (loss) from rental real estate activities (attach Form 8825) , ,

Gross income from other rental activities , 3 aExpenses from other rental activities (attach schedule) _ 3bNet income (loss) from other rental activities . Subtract line 3b from line 3a

Portfolio income (loss) :

Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Dividends : (1) Qualified dividends ► _ _ _ _ _ _ _ _ _ _ _ _ _ (2) Total ordinary dividends ►Royalty income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(1) Net short-term capital gain (loss) post-May 5, 2003 ,

(2) Net short-term capital gain (loss) (entire year) _ . . ,

(1) Net long-term capital gain (loss) post-May 5, 200 3

(2) Net long-term capital gain (loss) (entire year) , ,

Other portfolio income (loss) (attach schedule)

Guaranteed payments to partners _„Net section 1231 gain (loss) post-May 5, 2003 (attach Form 4797) ,

Net section 1231 gain (loss) (entire year) (attach Form 4797) . . ,

Other income (loss) (a ttach schedule)

Charitable contributions (attach schedule) . . . . . . . . . . . . . . . . . . . . . .Section 179 expense deduction . . ..,Deductions related to portfolio income (itemize) , ,

f

5

6 a

b

7

8

9

0 .0 1 0o r -

12 a

b

~j c

d

14 a

y C ~d w b

cc c

15 aw ac b

( E0

n W E C

'a 16a

1° c b

c wE CEnd dwa =

x

e

Low-income housing credit :( 1 ) From partnerships to which section 42(j)(5) applies . . . . . . . . . . . . . . . . . i2 a l(2) Other than on line 12a(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . '2a(2Qualified rehabilitation expenditures related to rental real estate activities (attach Form3468) . . . . . . . . . . . . . . . . . . . . . 12b

Credits (other than credits shown on lines 12a and 12b) related to rental real estate

activities . . . . . . . . . . . . . . 12c

Credits related to other rental activities . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2d

Other credits . 1 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Interest expense on investment debts 14a

( 1 ) Investment income included on lines 4a, 4b(2), 4c, and 4f above 14b (I

(2) Investment expenses included on line 10 above pan z. . . . . . . . . . . . . . . . .

Net earnings (loss) from self-employment . . . . . . . . . . . . . . . . . . . . . . . . 15aGross farming or fishing income . . . . . . . . . . . . . . . . . . . . 1 5 b

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Gross nonfarm income 15c

Depreciation adjustment on property placed in service after 1986 , 1 6a

Adjusted ga i n or loss . . 16b

Depletion (other than oil and gas) . . . . . . . . . . . . 1 6c

( 1 ) Gross income from oil, gas, and geothermal properties, . . . . . . +ea Ll

(2) Deductions allocable to oil, gas, and geothermal properties . . . 16d 2

Other adjustments and tax preference items (attach schedule) . . . . . . . . . . . . . . 1 6e

Form 8865 (2003 )

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TZ2373 1546 86-042147 6

04 -3 456831Page 4

(b) Total amount

I2

DOVER STREET IV L .P .Form 88 65 (2003 )

N

K

H

CY

0U.

~.

0

(a) Dist ri butive share items

17a Name of foreign country or U .S . possession ►---------------------------

b Gross income from all sources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c Gross income sourced at the partner level , . . . . . . . . ,d Foreign gross income sourced at the partnership level :

(1 ) Pass i ve . . .(2) Listed categories (attach schedule) . . . . . . . .

(3) General limitatio ne Deductions allocated and apportioned at the partner level :

( 1) Interest expens e

(2) Other . . . . . . . . .f Deductions allocated and apportioned at the partnership level to foreign source income :

( 1 ) Passive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(2) Listed categories (attach schedule)

(3 ) General lim i tation . . . . .

g Total foreign taxes (check one) : No- Paid ❑ Accrued Elh Reduction in taxes available for credit (attach schedule) . .

b Amount ►18 Sect i on 59(e)(2) expenditures : a Type ►_ ----------------------

19 Tax-exempt interest income „__ . . . . . . . .

20 Other tax-exempt income , . .

21 Nondeduct ible expenses _,

22 Distributions of money (cash and marketable securities )23 Distributions of property other than money . . . . . . .24 Other items and amounts required to be reported separately to partners (attach

schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .• • - Ba lance Sheets per Books (Not required if Question G9, paqe 1 is ar

AssetsBeginnin g of tax year

1 Cash . . . . . . . . . . . . . . . . .2 a Trade notes and accounts receivable .

b Less allowance for bad debts3 Inventorie s4 U .S . government obligations , ,5 Tax-exem pt securities ,6 Oth e r current assets (attach schedule)7 Mortgage and real estate loan s8 Othe r investments (attach schedule)9 a Buildings and other depreci a ble assets

b Less accumu lated depreciation10 a Depletable assets , ,

b Less accumulated depletion , ,

11 Land (net of any a mortization) , ,12a I ntangi b le assets (a m ortizable only)

b Less accumulated amortization13 Other assets (attach schedule) , ,14 Tot a l assets

Liab ili ties and Cap i ta l15 Accounts payable , ,

16 M ortg ages, notes , bond s payable in l ess than 1 year

17 Other current liabilities (attach schedule)

18 All nonrecourse loan s

19 Mortgag e s, n o tes , bo nds payable i n 1 year or m o re

20 Other liabilities (attach schedule) , ,

21 Partners' capital accounts , ,

22 Total liabilities and capital

Form 8865 (2003 )

J S A3 X1914 3 00 0

TZ2373 1546 86-042147 6

0 4 -3 456831Page 5

( b) Total amount

17b

17c

17d(7 )

na ( z)

77d(3)

tie !!)

17 a ( z )

17f(i)

n r( z )17f ( 3)

17g

17h

18b

19

20

21

22

23

swered "Yes .")E nd o f tax year

(d)

DOVER STREET IV L .P .Form 8865 2003

• • - Balance Sheets for Interest All

04-345683 1

a (b)Bectinn~nq of End of

. . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Total U.S . assets

2 Total foreign assets :a Passive income categor

y b Listed categories(attach schedule) . . _ . . . _ ,c General limitation income category

Reconciliation of Income (Loss) per Books With Income (Loss) per Return (Not required ifQuestion G9, page 1, is answered "Yes ." )

6 Income recorded on books thi sI Net income (loss) per books year not included on Schedule K,2 Income included on Schedule K, lines 1 through 7 (itemize) :

lines 1 through 4, 6, and 7, not a Tax-exempt interest $

recorded on books this year---------------------

(itemize) 7 Deductions included on Schedule---------------

3 Guaranteed payments (other K, Ines 1 through 11, 14a, 17g,

than health insurance) and 18b, not charged against

4 Expenses recorded on books book income this year (itemize) :

this year not included on a Depreciation $----------

Schedule K, lines 1 through 11, ---------------------14a, 17g, and 18b (itemize) :

---------------------a Depreciation $ ----------- ---------------------b Travel and entertainment $ 8 Add lines 6 and 7

9 Income (loss) . Subtract line 8---------------------5 Add lines I through 4 . . . . . from line 5 . . . . . . . . . . . .

Analysis of Partners' Capital Accounts (Not required if Question G9, pag e 1, is answered "Yes ."

I Balance at beginning of year . . 6 Distributions: a Cash ,2 Capital contributed: b Property ,

a Cash . . . . . 7 Other decreases (itemize):_ _ _

b Property . ---------------------3 Net income (loss) per books . . _____________________

4 Other increases (itemize) :_ - - - ____________________ _

--------------------- 8 Add lines 6 and 7 . . . . . . . .9 Balance at end of year . Subtract

5 Add lines I thrnuah 4 line R from line 5

6

Form 8865 (2003)

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Form 8865 2003 Page 7

Transactions Between Controlled Foreign Partnership and Pa rtners or Other Related EntitiesImportant : Complete a separate Form 8865 and Schedule N for each controlled foreign partnership . Enter the totals for each type oftransaction that occurred between the foreign partnership and the persons listed in columns (a) through (d) .

(b) Any domestic (c) Any other foreign (d) Any U S person with aTransactions corporation or partnership corporation or partnership 10% or more direct interest

of (a) U S person controlling or controlled controlling or controlled in the controlled foreignforeign partnership filing this return by the U S person filing by the U S person filing partnership (other than the

this return this return U S person filing this return )

1 Sales of inventory . .

2 Sales of property right s(patents, trademarks, etc) . .

3 Compensation received for tech-nical, managerial, engineering,construction, or like services . .

4 Commissions received

5 Rents, royalties, and licens efees received .

6 Distributions received . .

7 Interest received

B Othe r

10 Purchases of inventory

11 Purchases of tangible propert yother than inventory

12 P u r chases of prop erty rights(patents, trademarks, etc .) , ,

13 Compensation paid fo rtechnical, managerial, engineering,construction, or li k e services . .

14 Commissions pai d

15 Rents, royalties, and licens efees paid . .

16 D istributions paid . .

17 In terest pai d .

18 Other

1 0 through 1 8

20 Amounts borrowed (enter themaximum loan balance duringthe year) - see instructions

21 Amounts loaned (enter themaximum loan balance duringthe vaarl - see incfructinns _

Form 8865 (2003 )

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TZ2373 1546 86-0421476

SCHEDULE 0( Fo rm 8865 )Depa rt m e n t of the TreasuryI nt ernal Revenue ServiceN ame o f t ra nsferor

Transfer of Property to a Foreign Partnership OM B No 1545-1668(un der section 6038B) ~oo~

►Atta c h to Form 8865 . See Instruction s for Form 8865.Filer's Identifying numbe r

N a m e o f foreign p art nershi p

DOVER STREET IV L . P .

Transfers Reportab l e Under Sect i on 6038 B

(a) (b) (c) (d) (e) M (g)Type of D ate of Number of Fair market Cost or other Section 70 4(c) Gain Percentage interestproperty items value on date allocation recognized on in partnership afte r

transfer transferred of transfer basis method transfer transfe r

Cas h

Marketablesecuritie s

Inventory

Tangiblepropertyused in tradeor business

Intangiblepropert y

Otherpropert y

Supp l emental Informat ion Requ i red To Be Repo rted (see instructions) :

Dispos it i ons Reportable Under Sect i on 6038B

(a) Date )of (c) (d) Gain Depre~Ciation ( 9) DepreciationType of original

Date of Manner of recognized by recognize d recapture Gain allocated recapture allocate dproperty transfer disposition disposition to partne rpartnership by partnership to partner

'~" Is any transfer reported on this schedu l e subject to ga i n recognit i on under section 904(0(3) o rsect i on 904(f]i (5)(F)? ► n Yes n No

For Paperwork Reduct i on Act Notice , see the Instructions for Form 8865 . Schedule 0 (Form 8865) 200 3

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DOVER STREET IV L . P .EIN : 04-3456831

FORM 8865Number 6 ATTACHMENT

Name Address EIN

1 Techno VIII Investors LLC c/o HarbourVest Pa rtners , LLC 04 -3508630One Financial Center , 44th FloorBoston , MA 0211 1

2 Dover IV Holding LLC c/o HarbourVest Partners , LLC 32 -0058306One Financial Center , 44th Floo rBoston , MA 02111

Statement #1

DOVER STREET IV L .P .EIN : 04-345683 1

FORM 886 5SCHEDULE A-2 ATTACHMENT

TotalOrdinary Check ifIncome/ Foreign

Name Address EIN Loss Partnershipus $

2882 Sand Hill Road, Suite 10 01 Altos Ventures II, LP Menlo Park, CA 94025 94-3338590 0

One Exchange Square, Suite 3406, 82 Asia Development Partners, L.P . Connaught Place, Hong Kong 0

Blackstone Offshore Capital Partners III c/o The Blackstone Group, 345 Par k3 L.P. Avenue, 14th Floor, New York, NY 10154 13-3958252 0 X

Blackstone CCC Offshore Capital c/o The Blackstone Group, 345 Par k4 Partners III L .P. Avenue, 14th Floor, New York, NY 10154 13-4034417 0 X

Blackstone FI Offshore Capital Partners c/o The Blackstone Group, 345 Par k5 (Cayman) L.P. Avenue, 14th Floor, New York, NY 10154 13-4116628 0 X

Blackstone IPCS Offshore Capital c/o The Blackstone Group, 345 Par k6 Partners, L .P . Avenue, 14th Floor, New York, NY 10154 13-4126775 0 X

Blackstone UTP Offshore Capital c/o The Blackstone Group, 345 Par k7 Partners, L .P. Avenue, 14th Floor, New York, NY 10154 13-4126903 (626,624) X

Blackstone BC Offshore Capital c/o The Blackstone Group, 345 Par k8 Partners LP Avenue, 14th Floor, New York, NY 10154 13-4041664 0 X

Blackstone UC Offshore Capital c/o The Blackstone Group, 345 Par k9 Partners LP Avenue, 14th Floor, New York, NY 10154 13-4095437 (41,578) X

201 San Antonio Circle, #23510 Cambrian Fund, LLC Mountain View, CA 94040 91-2069010 0

105 Rowayton Avenu e11 Canaan Equity III Entrepreneurs LLC Rowayton, CT 06853 0

Digital Media & Communications III-C 75 State Street, 29th Floo r12 L.P. Boston MA 02109 0

2882 Sand Hill Road, Suite 150 Menl o13 Draper Fisher Jurvetson Fund VII, L . P . Park, CA 94025 0

300 Tice Blvd .14 Edelson Technology Partners IV, L . P. Woodcliff Lake, NJ 07675 22-3502346 0

2223 Avenida de la Playa ,15 Enterprise Partners IV Associates L .P. Suite 300, La Jolla, CA 92037 33-0761557 0

272 East Deer Path, Suite 30016 Goense Bounds & Pa rtners B , L .P . Lake Forest, IL 60045 36-4375428 0

One Maritime Plaza, 12th Floo r17 H&F International Partners IV-A L .P. San Francisco, CA 94111 0

Statement #2

DOVER STREET IV L .P .EIN : 04-3456831

FORM 8865SCHEDULE A-2 ATTACHMENT

TotalOrdinary Check i fIncome/ Foreign

Name Address EIN Loss Partnershipus $

23, rue Royale18 Innovacom 4 FCRP 75008 Paris, France N/A 0 X

1000 Winter Stree t19 Kodiak Venture Partners II-A, L .P. Waltham, MA 02451 04-3539629 0

c/o Argo Global Capital, L L CKPN-VNU-Argo II : The Wireless 601 Edgewater Drive, Suite 34 5

20 Internet Fund Wakefield, MA 01880 04-3551274 0c/o Lehman B rothers M erchant B anking P artners ,

Lehman Brothers Offshore Investment Inc., 3 World F inancial Center, 18th Floor, New Yor k,21 Partners II, L . P . N Y 10285 N/A 0 X

South Church StreetMagnum Communications Fund LP, A George Town, Grand Cayma n

22 Cayman Island Partnership Cayman Islands 98-0212011 0 X3000 Sand Hill Road, Building 4, Suite 100 ,

23 Menlo Entrepreneurs Fund IX, LP Menlo Park, CA 94025 94-3377962 0MidOcean Partners, LP (Held via Dover 320 Park Avenue, 17th Floor New York, N Y

24 IV Holding LLC which is disregarded 10022 17 XMobius (formerly SOFTBANK) 200 W . Evelyn St . Suite 200, Mountain View,

25 Technology Venture Advisors Fund VI CA 94041 77-0545804 0One Gorham Island

26 Oak IX Affiliates Fund, L . P . Westport, CT 06880 06-1571899 03000 Sand Hill Road, Bulding 2, Suite 290 ,

27 Red point Technology Partners Q-1, L . P. Menlo Park, CA 94025 94-3348544 0103 Foulk Road, Suite 202

28 TL Ventures IV Interfund L .P . Wilmington, DE 19803 51-0391210 0103 Foulk Road, Suite 202

29 TL Ventures V Interfund L . P . Wilmington, DE 19803 23-3064638 0103 Foulk Road, Suite 202

30 TL Ventures V L.P . Wilmington, DE 19803 23-3051374 0U.S. Venture Partners Entrepreneur 2735 Sand Hill Road ,

31 Partners VII-A, L . P. Menlo Park, CA 94025 94-3360544 0435 Tasso Street, Suite 12 0

32 WorldView Strategic Partners III, L .P . Palo Alto, CA 94301 77-0529666 0One Memorial Drive

33 YankeeTek Incubator Fund, L . P . Cambridge, MA 02142 04-3510776 0

Statement #2

Fay 9 2 G(Rev December 2003)

Return by a U .S . Transferor of Prope rty I OMB No. 1545-0028to a Foreign Corporatio n

Dep artment of the Trea surynte mal Revenue Service

U .S . T ransferor Informatio n

FLINN FOUNDATION

► Attach to your income tax return . Attachme n tsequence No. 12 9

Identifying number (see instructions )

86-04214761 If the transferor was a corporation, complete questions la, 1b, and 7 c .

a If the transfer was a section 361 (a) or (b) t ransfe r, was the transferor controlled (under section 368(c)) by5 or fewer domest ic corporations? . . . . . . . . . . . . . . . . . . . . . B Yes BNo N/A

b Did the tran s feror remain in e ~aslence after the t ransfer? . . . . , , . , . . . . . . . . . . . . . . . Yes No N/A

If not, list the controlling shareho lder(s) and their identifying number(s) :

Controlling s harehol der Identifying number

c if the transferor was a membe r of an aff i li a ted g roup filing a consoli da te d ret urn, wa s it the parentcorporation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❑Yes ❑No N/AIf not, li st the name and employer i dentificati on n um ber (EIN ) of the parent co rp o rat io n :

Na me of parent cor p o ration EI N of pa rent corporation

2 If the transferor was a partner in a p a rtnership that was the actual t ransferor (but is not treated as such u nder section 367),list t h e name and EIN of the t r ansfero r's part n e rship:

Nam e of partnership EI N of partnership

FARALLON CAPITAL INSTITUTIONAL PARTNERS L .P . 94-91 06322

3 Name of transferee (foreign corporation) 4 Identifying n umber, if anyFARALLON RP INVESTORS LIMITE D

5 Address (including country)WALKERS SPV LIMITED, WALKER HOUSE, MARY STREET/P .O . BOX 908GT6 Country of incorporation or organizatio n

GEORGE TOWN, GRAND CAYMAN, CAYMAN ISLANDS7 Foreign law characterization (see instructions)

CORPORATION

8 Is the transferee foreign corporation a controlled foreign corporation? . Yes IX NoF or Pape rwo r k Reduction Act Notice, soe papa 4. Form 926 (Rev, 12-20o3)

Jsn

acseoe 2.000

Form 926 (Rev. 12 -2003)

OTUM Inform s9 Date of transfer

12/23/0311 Descri p ti on of p

$107 .530

351nonrecogn i ti on transaction (see

12 Did this transfer result from a change In the classification of t he transferee to that of a foreign corporation? Yes UN o1 3 Was the transferor require d to recognize income under Temporary Regulations sections 1 .367(a~4T

through 1 .367(a)-6 T ( e .g ., for tainted prope rty, depreciation recapture, branch loss recapture, etc .)? , , , , , , ❑ Yes X❑No74a Was intangible property (within the meaning of section 936{h}(3)( 8 )) transferred as a result of the

transaction? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❑ Yes -]NoIXb If yes, describe the nature of the rights to the intangible property that was transferred in the transfer :

3C2609 2 000

JSA

Attachment to 2003 Form 926Information Required Pursuant to Regulation Section 1 .6038B-1(c )

1) Transferor: Farallon Capital Institutional Partners L .P .EIN : 94-9106322One Maritime PlazaSuite 132 5San Francisco, CA 9411 1

2) Transfer: (i) Transferee Foreign CorporationFarallon RP Investors Limited Cayman IslandsWalkers SPV Limited Walker HouseP.O. Box 908GTGeorge Town, Grand Cayman

(ii)(iu}(iv)

(v)(vi)(vii)(viii )

(iX)

3) Consideration Received : Stock in Farallon RP Investors Limite d

4) Property Transferred :(i) Active Business Property

Property: Contribution of cashBusiness: Farallon Capital Institutional Partners L.P .

is in the investment busines sRule : N/A

(ii) During year ended December 31, 2003 FarallonCapital Institutional Partners L .P . made aContribution of $107,530 cash to FarallonRP Investors Limite d

Stock and Securities :Depreciated Property :Property to be Leased :Property to be Sold :Transfers to FSC :Tainted Property :Foreign Loss Branch:ether Intangibles :

Not ApplicableNot ApplicableNot ApplicableNot ApplicableNot ApplicableNot ApplicableNot ApplicableNot Applicable

5) Transfer to Foreign Branch Loss with Previously Deducted Losses :(i) Branch Operation Not Applicable(ii) Branch Property Not Applicable(iii) Previously deducted losses Not Applicable(iv) Character of gain Not Applicable

6) Application of Section 367(a)(5) :

N/A

N/A

Forth 8!8 6(Rev June 2)

Department of the TreasuryInternal Revenue Sennce

Reportable Tran saction Di sclosure Statementp. Attach to your tax return .

po. See separate instructions .

OMB No 1545-180 0

AttachmentSeq uence N o 13 7

Name(s) shown on ret urn Identifying number

FLINN FOUNDATION 86-042147 6Number , st r eet , and room or su ite no

1802 NORTH CENTRAL AVENUECity or town, state, and ZIP code

PHOENIX, AZ 85004-150 6

1 a Name of reportable transaction I b Tax shelter registration number ( 1 1-digits) (if any)

988 LOSS NONE

2 Identify the type of reportable transaction . Check the box(es) that apply (see instructions) .

(a) Listed transaction (d) x Loss transaction(b) Confidential transaction (e) Transaction with significant book - tax difference(c) Transaction with contractual protection (f) Transaction with brief asset holding perio d

3 If the transaction is a "listed transaction" or substantially similar to a listed transaction, identify the listedtransaction (see instructions) ji,- _____________

----------------------------------------------------

4 Enter the number of transactions reported on this form . . . . . . . . . . . . . . . ), _I

5 If you invested in the transaction through another ent ity, such as a partnership, anS corporation, or a foreign corporation, identify the name and employer identificatio nnumber (EIN) (if any) of that entity , , , , jo. sEE sTNr 1 ___

------------------------------------------------------------------------------------------

Form 8886 ( Rev 6-2004 )

J SA

3 X4 0 55 3 000

6 Enter in columns (a ) and (b) below, the name and address of each person to whom you paid a fee with regardto the transaction if that person promoted, solicited, or recommended you r participation in the transaction, orprovided tax advice related to the transaction . N/A

Form 8886(Rev 6-2004) Page 2

7 Facts . Describe the facts of the transaction that relate to the expected tax benefits, including your participation in thetransaction . For listed transactions identified in item 2a, also provide the complete name, address, and nature ofinvolvement of all parties to the transaction (see instructions) .

SECTION 988 LOSS IN THE AMOUNT OF $17,756 .- ---------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

8 Expected tax benefits. Describe the expected tax benefits, inc luding deductions, exclusions from gross income,nonrecognition of gain, tax credits, adjustments (or the absence of adjustments) to the basis of property, etc . (seeinstructions for more details) .

THE REALIZED LOSS ON SECTION 988 TRANSACTIONS IS IN CONNECTION WITH DAVIDSON KEMPNER---------------------------------------------------------------------------------------------

INSTITIITIONAL PARTNERS REGULAR INVESTING ACTIVITIES AND THEREFORE, NOT CARRIED------- --------- ----------------- ---------------------------------- -- ---------- --------- - --- -

OIIT AS PART OF ANY PLAN TO ACHIEVE TAX BENEFITS . AS A RESULT, THERE ARE NOT ANY------- --------- -------------------- ------------------ ---------------------------------------

E7{PECTED TAX BENEFITS .------------------------- ----------------------------------- --------- ------------------------

---------------------- - --- ---------- -- --- ----------- ---------------------------------------- -

------- - - ----- --------- ----------------------------------------------------------------------

-------- ----- -------------------------------------------------------------- ------------------

-- ------------------------ ------------------------ ---------------- ----------------- ----------

9 Estimated tax benefits . Provide a separate estimate of the amount of each of the expected tax benefitsdescr ibed above for each affected tax year (including prior and future years) .

AS INDICATED ON LINE 8 ABOVE, THERE ARE NO EXPECTED PRIOR AND/OR FUTURE TAX BENEFITS--- -------- -------- ------------- -------------- -- ------------------ -------------------- -------

AS A RESULT OF THE TRANSACTIONS REPORTED .---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

JSA3 X4 056 2 000

----------------------------------------------------------------------------------

----------------------------------------------------------------------------------

----------------------------------------------------------------------------------

----------------------------------------------------------------------------------

----------------------------------------------------------------------------------

Forth 8886 (Rev 6-2004)

Flinn FoundationEIN 86-0421476FYE: 12/31/200 3

Form 8886, Line 5 - Name and Indentification of Pass Through Entity

Davidson Kempner Institutional Partners885 Third AvenueNew York, NY 10022

STATEMENT 1

Form 888 6( Rev June 2004)

Department of the TreasuryI n ternal Revenue Ser vi ce

Reportable Transaction Disclosure Statemen tjo. Attach to you r tax return.

)o. See separate i n structions.

Na me(s) shown on return

FLINN FOUNDATION

OMB No 1545 - 1800

AttachmentSequ e nce No 13 7

Identifying number

86-042147 6Number, street, and room or suite no .

1802 NORTH CENTRAL AVENUECity or town, state, and ZIP code

PHOENIX, AZ 85004 - 150 6

1 a Name of reportable transaction 1b Tax s helter registration number ( 1 1-digits) (if any)

SECTION 988 LOSS NONE


(a) N Listed transaction (d) x Loss transaction(b) Confidential transaction (e) Transaction with significant book-tax difference(c) Transaction with contractual protection (~ Transaction with brief asset holding perio d

3 If the transaction is a "listed transaction" or substantially similar to a l isted transaction, identify the listedtransaction (see instructions) ► ____________________________________________________ _

4 Enter the number of transactions reported on this form ~ i

5 If you invested in the transaction through another entity, such as a partnership, a nS corporation, or a foreign corporation, identify the name and employer identificatio nnumber (EIN) (if any) of that entity SEE- STMT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p.

. -------1----

------------------------------------------------------------------------------------------

6 Enter in columns (a) and (b) below, the name and address of each person to whom you paid a fee with regardto the transaction if that person promoted, solicited, or recommended your participation in the transaction, orprovided tax advice related to the transaction. N/A

Form 8886 (Rev 6-2004)

J S A

3X4 055 3 00 0

Form 8886 (Rev 6-2004) Page 2

7 Facts . Describe the facts of the transaction that relate to the expected tax benefits, includi ng your participation in thetransaction . For l isted transactions identified in item 2a, also provide the complete name, address, and nature ofinvolvement of al l parties to the transaction (see instructions) .

TYPE PROPERTY NAME DATE AMOUNT- ------------------------------------------------------------------------------------------

---- ------------- ---- ---------------------------------------------------------------------------------------------------

SECTION 988 CENTER PARCS UK 09/26/2003 $ (17,769)---------------------------------------------------------------------------------------------

SECTION 988 CENTER PARCS UK 11/17/2003 $ ( 2,123 )---------------------------------------------------------------------------------------------

SECTION 988 CENTER PARCS UK 12/11/2003 $ (28,947 )- -------------------------------------------------------------------------------------------

SECTION 988 CENTER PARCS UK 12/11/2003 $ (26,871)------------------------------------- ------------ -------------------------------------------

---------------------- ------------------------- -------------------- ----- ---------------------

---- ------------ ---- - ------------------------------------------------- -- ------------- --------

8 Expected tax benefits . Describe the expected tax benefits, including deductions, exclusions from gross income,nonrecognition of gain, tax credits, adjustments (or the absence of adjustments) to the basis of property, etc . (seeinstructions for more details) .

THE REALIZED LOSS ON SECTION 988 TRANSACTIONS IS IN CONNECTION WITH MIDOCEAN---------------------------------------------------------------------------------------------

PARTNERS, L.P . REGULAR INVESTING ACTIVITIES AND THEREFORE, NOT CARRIED OUT AS PART O F---------------------------------------------------------------------------------------------

ANY PLAN TO ACHIEVE TAX BENEFITS . AS A RESULT, THERE ARE NOT ANY EXPECTED TAX---- ------ ------- ---- ----- -------------------------------------------------------------------

BENEFITS .----------------------------------------------------------------- -------------------------- --

----- -------- -------- ------------------------------ ------------------------------------------

---------------------------------------------------------------------------------------------

--------------------------------------------------- --------------- - ---------------------- ----

------------- ---------------- --------- --------------- -------------------- -------- -------- ----

9 Estimated tax benefits . Provide a separate estimate of the amount of each of the expected tax benefitsdescribed above for each affected tax year (inc l uding prior and fu ture years) .

AS INDICATED ON LINE 8 ABOVE, THERE ARE NO EXPECTED PRIOR AND/OR -FUTURE TAX BENEFITS-----------------------------------------------------------------------------------------

AS A RESULT OF THE TRANSACTIONS REPORTED.---------------------------------------------- ------------------------------ -----------------

---------------- ---- ---------------------------- ---------------- -----------------------------

----------------- ----------------------------- -- ---------------- ------------ ---------- --- ----

---------------- ---- - ------------------------- -----

-------------------------- --- -- --------------- -----

----- - ---- --------------------------------- --------

--- -----------------

--- -- ------------ ---

----- ------------- --

------------

------------

------------

JSA

3 X4 05 6 2 000

----------------

Form 8886 (Rev 62004 )

Flinn FoundationEIN 86-0421476FYE : 12/31/200 3


MidOcean Partners, L .P through :

Dover Street IV L .P .

Dover Street IV L .P .C/O Harbourbest Partners LLCOne Financial Center, 44th FloorBostan, MA 02111

STATEMENT 1

Foy, 8!,86 Reportable Transaction Disclosure Statement(Rev June 2

jo. Attach to your tax return .Department of the Treasu ryInternal RevenueService jo. See separate instructions.

OMB No 1545-180 0

AttachmentSequence No 137

Name(s) shown on return I denti fyin g numbe r


N u m ber , st reet, an d room or suite no

1802 NORTH CENTRAL AVENUE

C it y or town , stat e , and ZIP c ode

PHOENIX, AZ 85004-150 6

1 a Name of reportable transaction 1 b Tax shelter registration number ( 1 1-digits) (if any)

165 LOSS NONE

2 Identi fy the type of repo rtable transaction . Check the box(es) that apply (see instructions) .

(a) N Listed transaction (d) x Loss transactio n(b) Confidential transaction (e) Transaction with significant book-tax difference(c) Transaction with contractual protection (~ Transaction with brief asset holding perio d

3 If the transaction is a "listed transaction" or substantia l ly similar to a listed transaction, identify the listedtransaction (see instructions) jo -________________________________________________________________ _

4 Enter the number of transactions reported on this form . . . . . . . . . . . . 1111. i

5 If you invested in the transaction through another entity, such as a partnership, a nS corporation, or a foreign corporation, identify the name and employer identificationnumber (EIN) (if any) of that entity ,. , , OP. SEE sTrrr_i ____

------------------------------------------------------------------------------------------

6 Enter in columns ( a ) and (b) below, the name and address of each person to whom you paid a fee with regardto the transaction if that person promoted, solicited, or recommended your participation in the transaction, orprovided tax advice related to the transaction. N/A

F orm 8886 ( Rev 6 - 2004 )

JSA

3X4055 3 000

Form 8886 (Rev 6-2004 ) Page 2

7 Facts. Describe the facts of the transaction that relate to the expected tax benefits, including your participation in thetransaction . For listed transactions identified in item 2a, also provide the complete name, address, and nature ofinvolvement of all parties to the transaction (see instructions) .

DUE TO RECENT TAX SHELTER LEGISLATION, FCIP FILED FORM 8886 FOR A CAPITAL LOSS ON------------------------------------ ------------------------------------

LIQUIDATION OF STOCK . FCIP INVESTED IN Punur ira MARKETING, LTD . (PHARMA) . A PASSIVE---------------------------------------------------------------------------------------------

FOREIGN INVESTMENT CORPORATION, FCIP ELECTED TO TREAT PHARMA AS A QUALIFIED ELECTING---------------------------------------------------------------------------------------------

FIIND (QEF) UNDER IRC SECTION 1295, AND HAS INCLUDED INCOME AS REQUIRED . THIS QEF--------------------------- ------------------------------------------------- -----------------

INCLIISION AMOUNT INCREASED FCIP'S OUTSIDE BASIS IN THE STOCK . IN 2003, PT;nunra---------------------------------------------------------------------------------------------

DISTRIBIITED ITS ASSETS AS PART OF A PLAN TO LIQUIDATE THE COMPANY . THE PARTNERSHIP'S---------------------------------------------------------------------------------------------

OIITSIDE BASIS IN THE STOCK EXCEEDED THE LIQUIDATING DISTRIBUTIONS AND RESULTED IN A---------------------------------------------------------------------------------------------

CAPITAL LOSS OF $14,926,421 .---------------------------------------------------------------------------------------------

8 Expected tax benefits. Describe the expected tax benefits, including deductions, exclusions from gross income,nonrecognition of gain, tax credits, adjustments (or the absence of adjustments) to the basis of property, etc . (see

instructions for more details) .

THE EXPECTED TAX BENEFIT WILL BE THAT THE CAPITAL LOSS FROM LIQUIDATION WILL OFFSET---------------------------------------------------------------------------------------------

THE REPORTED CAPITAL , GAIN FROM THE PH nRMA QEF INCLUSION OF $20,180,246, RESULTING IN---------------------------------------------------------- ------------------------

A CAPITAL GAIN FROM PHARMA OF $5,253,825 . FLINN'S ALLOCABLE----------

SHARE-OF

-THE CAPITAL LOSS

--------------------------------- ------------------------------------------------

FROM PuaRMA IS $27,159 .---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

9 Est i mated tax benef its. Provide a separate estimate of the amount of each of the expected tax benefitsdescribed above for each affected tax year (including prior and future years) .

AS INDICATED ON LINE 8 ABOVE, THE FUTURE BENEFIT IS THE SAME AS THE CURRENT BENEFIT .---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

--------------------------- -- -----------------------

------------------------ ----- -----------------------

----------------- - ------------------------------ ----

J SA3 X4 0 56 2 000

-------------------------------------

-------------- ----- -------------- --- -

---------------- - ------------ - --- ----

Form SHS S (Rev 6-2004)

Flinn Foundation

EIN 86-0421476

FYE: 12/31/200 3


Farallon Capital Institutional PartnersOne Maritime Plaza, Suite 132 5San Francisco, CA 94111

STATEMENT 1

Foy„ 8!86 Reportable Transaction Disclosure Statement(Rev June 2 )

Department of the Treasury► Attach to your tax return .

p. See separate instructions .Inte rn al Revenue Service

OMB No 1545 - 180 0

AttachmentSequence No 13 7

Name(s) shown on return Identifying number

FLINN FOUNDATION 86 - 042147 6

N umber, street, and room or suite no

1802 NORTH CENTRAL AVENUE

City or town, state, and ZIP code

PHOENIX, AZ 85004-150 6

1 a Name of reportable transact ion 1 1 b Tax shelter registration number (11-digits) (if any )

988 LOSS LNONE


(a) Listed transaction (d) x Loss transactio n(b) Confidential transaction (e) Transaction with significant book-tax difference(c) Transaction with contractual protection (~ T ransaction with brief asset holding period

3 If the transaction is a "listed transacti on" or substantially similar to a listed transaction, identify the listedtransaction (see instructions) jo -______________

---------------------------------------------------

4 Enter the number of transactions reported on this form . . . . . . . .

5 If you invested in the transaction through anothe r entity, such as a partnership, anS corporation, or a foreign corporation, identify the name and employer identificatio nnumber (EIN) (if any) of that entity , , , .. Iii. SEE sTrTr _i ____

------------------------------------------------------------------------------------------

Form 8886 (Rev 6-2004 )

JSA

3 X4 055 3 0 0 0

6 Enter in columns (a) and ( b) below, the name and address of each person to whom you paid a fee with regardto the transaction if that person promoted, solicited, or recommended your participation in the transaction, orprovided tax advice related to the transaction . N/A

F orm 8886 (Rev 6-2004) Page 2

7 Facts . Describe the facts of the transaction that relate to the expected tax benefits, including your participation in thetransaction . For l isted transactions identified in item 2a, also provide the complete name, address, and nature ofinvolvemen t of all part ies to the transact i on (see instructions) .

SEE STATEMENT 2------------------------------------------------------------ --------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------

8 Expected tax benefits . Describe the expected tax benefits, includ i ng deductions, exclusions from gross income,nonrecogn ition of gain, tax credits, adjustments (or the absence of adjustments) to the basis of property, etc . (seeinstructions for more details) .

THE REALIZED LOSS ON SECTION 988 TRANSACTIONS IS IN CONNECTION WITH FARALLON------------- ----------- - -- ----------------------------- -- --------------------------------- - -

CAPITAL INSITUTIONAL PARTNERS REGULAR INVESTING ACTIVITIES AND THEREFORE, NOT----------------------------------------------------------------- -- ----------- ------- --------

CARRIED OUT AS PART OF ANY PLAN TO ACHIEVE TAX BENEFITS . AS A RESULT, THERE ARE NOT-- ---------------- ------------------------- ------ ----------------------- ------------ - ------- -

ANY EXPECTED TAX BENEFITS .---------------------------------------------------------------------------------------------

------------- - ---------- --------------------------------------------------- - --- --------------

---- --------------- - - -------------- ------------------ - ---------------------------------------

---- ---------------- ----- - -------------------------------------------------------------------

-------------------------------------------- -------------------------------------------------

9 Estimated tax benefits . Provide a separate estimate of the amount of each of the expected tax benefitsdescribed above for each affected tax year (including prior and future years) .

AS INDICATED ON LINE 8 ABOVE, THERE ARE NO EXPECTED PRIOR AND/OR FUTURE TAX BENEFITS-------------- - --------------------------------------------------------------------- ---------

AS A RESULT OF THE TRANSACTIONS REPORTED .------------------------ - - -- -- ----------- --------------------------------- -------------------

JSA

3X40 56 2 000

------------------------------------------------------ -------

---- ---------------- ------------------ -----------------------

--- ----------------------------------------------------------

--------------------------- ----------- -----------------------

----------------

----------------

----------------

------------------------------------------------------------------

Form 8 8 8 6 (Rev 6 -2004 )

Flinn FoundationEIN 86-0421476FYE: 12/31/2003


Farallon Capital Institutional PartnersOne Maritime Plaza, Suite 1325San Francisco, CA 94111

STATEMENT 1

- ., .

Flinn FoundationEIN 86-0421476YE : 12131/2003

FORM 8886, LINE 7 - FACTS

CURRENCY

GREAT BRITAINCANADAAUSTRALIANORWAYHONG KONGSOUTH KOREAPHILIPPINE PESOTAIWANSWISSEUROTHAILANDSINGAPORESWEDENSA RANDJAPANDENMARKINDONESIAINDI AMEXIC O

TOTAL ALLOCABLE S HARE OF GR OSS SEC 988 LOSS

YOUR SHARE OFGROSS LOS S

(14,823)(9.048 )

(428)(885)(210)(53)

(1-58)(15)

(4 .447)(34,501)

(342)(8)

(402)

(1 )(201)

(1 .581)(132)(26)

(151 )

(67,41 3)

STATEMENT 2

•

Form 8868 ( 12-2000) Page 2

• if you are filing for an Additional (not automat(c) 3-Month Extension, complete only Part II and check this box ~ g

Note ; Onlycomplete Part H ifyou havealreadybeen granted an automatic 3-month extension on a previously filed Form 88 68.

• If you are filing for an Automatic 3 - Month Extension, complete only Part I (on pa g e 1) .

Additional (not automatic) 3-Month Extension of Time -MastType or Name of Exempt Organizatio n

print F INN FOUNDATION

File by the Number, street, and room or sui te no If a P 0 box, see instructions.

exten dedduedatefor 1802 N . CENTRAL AVENU Efiling the City, town or post oif ,ce , state, and ZIP code. For a foreign add ress, see instructionsreturn . SeemsducUons . PHOENIX, AZ 85004-150 6

Check type of return to be filed (F ile a separate application for each return) :Form 990 0Form 990-EZ ❑ Form 990-T (sec 401 (a) or 408(a) trust )

91 Notice to App l icant - To Be Completed by the I RSWe have approved this applicat ion Please attach thi s form to the organization's return.We have not approved this applicati on. However, we have granted a 10-day g race period from the l a ter of the da te shown be low or the du e

date of t he organization's return (inclu d ing any prior extensions) This grace period is considered to be a vali d extension of tim e for e lections

otherwis e required to be mad e on a timely return . P lease attach th is form to the organization's return

We ha ve not approved this application Afte r considering the reasons stated in item 7, we cannot grant your request for an extension o f time

to file. We a re not gra nting a 1 0•day grace period .We ca n not consider this application because it was filed oi ler the due dat e of th e return for which an extension was requested .

Othe r

STOP : Do not compl ete Pa rt i i if you were not already granted an a utom at i c 3- month extension on a previously filed Fo r m 8868 .

• If the organization does not have an office or place of business in the United States, check the box, , , , , . , . . . , , ►• If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN) . If this isfor the whol e group, check this box ► . If it is for pa rt of the group, check this box ! and attach a list with thenames and EINs of all members the extension is for.

4 I request an additional 3-month extension of time until 11/15/20045 For calendar year 2003 , or other tax year beginning and ending6 If this tax year is for less than 12 months, check reason: Initial return Final return Change in accounting period7 State in detail why you need the extensio n

ADDITIONAL TIME IS NEEDED TO COLLECT ALL THE INFORMATION NECESSARY TO

FILE A COMPLETE AND ACCURATE RETURN .

8a If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less an ynonrefundable cred its. See instructions , _ E 6 5 .000 .

b If this application is for Form 990-PF, 990-T, 4720, or 6069, enter any refundable credits and estimatedtax payments made . Include any prior year overpayment allowed as a credit and any amount paidpreviously with Form 8868 . . . . . . . . . . . . . . . . . . . . . . . . $ 140,000 .

c Balan ce Due. Subtract line 8b from line 8a . Include your payment with this form, or, if required, deposi twith FTD coupon or, if required, by using EFTPS (Electronic Federal Tax Payment System). Seeinstructions • $ NONE

Signature and VerificationUn der penalties of pequry, I declare th at I have examined th is tam , i n clud ing accompanying s ch edules and s tatement s, and to the best of my kn owle dge and belief.it is tru e , correct, a nd complete , a nd that I am authorized to prepare this tarn

HBy.

Dir ector D ateA lternate Mailing Add ress - Enter the address if you want the copy of this application for an additional 3-month extensio n

Name

Type orprint

final and One Copy.E mp loyer identification n um ber

00 - V'S ,

For IRS use

1047 -A ❑ Form 52270 Form 8870

Number and s treet (include sui te, room, or apt no.) Or a P .O. box number

or to w n, pr ovince or sta te, a nd coun try (including postal or ZIP code)

4XZOIE 1546

Form (12-2000 )

V03-7 22630 -448

002635677

r

Form 886 8(Decembe r 2000)

Department of t he Treasu ry

Application for Extension of Time To File anExempt Organization Return► Fi le a separate application for each return.

OMB No 1545-1709

• If you a re filing for an Automatic 3-Month Extension, complete only Part I and c heck th is box , , , , . . , , . .► U• If you a r e fi ling for an Add itional (not automatic) 3-Month Extens ion , complete only Part 11 ( on page 2 of th is form )Note : Donot complete Part Runlessyou have alreadybeen granted an automatic 3 -month extension on a previously friedForm 8868.

Automatic 3 - Month Extens ion of Time - Only submit origina l (no copies needed)Note : Form 990- T corporations requesting an automatic 6-month extension - check this box and complete Part !on ly . , , , . ►All other corporations (including Form 990 - C filers) must use Form 7 004 to request an extension of time t o file income faxreturns . Partnerships, R EMICs an d trusts m ust use Form 8736 to request an extension of time to ale Fo rm 1 065, 1066, or 1 041.Type or wame of txemp[ i

print FLINN FOFile by the due Number, street, adate for filing 1802 N .yourretum See City, town or postInstructions

86-room or suite no If a

stale . and ZI P code For a

see

see

Check type of return to be filed (file a se crate application for each return) :Form 990 Form 990-T (corporation) H Form 4720

Form 990-BL Form 990-T(sec 401(a) or 408(a) trust) Form 5227

Form 99D-FZ Form 990-T (trust other than above) Form 606 9

X Form 990•PF Form 1041-A Form 8870

• If the organization does not have an office or place of business in the United States, check this box , , . . _ . . . . 0-• If this is for a Grou p Return, enter the organization's four digit Group Exemption Number (GEN) ~If this i sfor the whole group, check this box ► E] If It is for part of the group, check this box ► and attach a list with thenames and EINs of all members the extension will cover .I {request an automatic 3-month (6-month, for 990-T corporation) extension of time until 08/16 .2009

to file the exempt organization return for the organization named above The extension is for the organization's return for :* e calendar year 2 D03 o r

tax year beginning , and ending

2 If this tax year i s for less than 12 months, check reason: E] Ini tial return [:] Final return D Change in accounting per iod

3a If th is application is for Form 990-BL , 990-PF . 990-T, 4720 , or 6069, enter the ten tat ive tax, less a n yn o nr efu nd a b l e credits. See Instructions , , , , , _ , , , . , , , , . , , _ $ 65,000 .

b If t his ap p lica t i on is for Form 990- P F o r 990- T , enter any r efundable credits an d estimat e d tax paymentsmade I nclude any prior year o verpayment a llowed as a cred it . . . . . . . . . . . . . . . . . . . . . . . . . . $ 140,000 .

c Balance Due . Subtrac t l i ne 3b from line 3a I ncl ude your paymen t wi th th is for m , or, i f requ ired , deposi twith F7D co upon or, if requir ed , by using EF TPS (Elec tron ic Fede ral Tax Payment Sy stem) See NONEinstructions , $. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Signature and VerificationUnder penalties of perj ury. I declare that I have exam ined this Torm , including accompanying sched ul es and st atements and to the best of my know ledge and beliefIt i s true. correct and complete and that I am aut horized to prepa re this form

J SA3F 8054 1 0 00

4XZOXE 1546 V03-6 22630-448

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