SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2016
Open to Public Inspection
Name of the organization
AMG CHARITABLE GIFT FOUNDATION
 
Employer identification number

84-1260437
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year ......... 159  
2 Aggregate value of contributions to (during year) 13,722,017  
3 Aggregate value of grants from (during year) 5,816,886  
4 Aggregate value at end of year ........ 68,013,451  
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a  
b Total acreage restricted by conservation easements .................... 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2016
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Schedule D (Form 990) 2016
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ........
Part V
Endowment Funds. Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a)Current year (b)Prior year (c)Two years back (d)Three years back (e)Four years back
1a Beginning of year balance ....          
b Contributions ...          
c Net investment earnings, gains, and losses          
d Grants or scholarships ...          
e Other expenditures for facilities
and programs ...
         
f Administrative expenses ....          
g End of year balance ......          
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet  
b
Permanent endowment SchDMd Bullet  
c
Temporarily restricted endowment SchDMd Bullet  
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations .................
3a(i)
 
 
(ii) related organizations .................
3a(ii)
 
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment)
(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....      
b Buildings ....        
c Leasehold improvements        
d Equipment ....        
e Other .....        
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..SchDMdBullet 0
Schedule D (Form 990) 2016
Page 3

Schedule D (Form 990) 2016
Page 3
Part VII
Investments—Other Securities. Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)
(b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives.........    
(2) Closely-held equity interests........    
(3) Other
(A) 3M COMPANY
4,286 F

(B) ABBOTT LABORATORIES
51,239 F

(C) ABBOTT LABORATORIES 2% 03/15/2020
49,492 F

(D) ABBVIE INC
54,417 F

(E) AGCO CORPORATION
772,541 F

(F) ALCOA CORP
10,530 F

(G) ALLEGHANY CORP
22,500 F

(H) ALLIANCEBERNSTEIN GLOBAL BOND FUND INC
543,001 F

(I) ALPHABET INC CL A
28,528 F

(J) ALPHABET INC CL C
27,786 F

(K) AMERICAN INTERNATIONAL GROUP
51,268 F

(L) AMG RIVER ROAD SMALL CAP VALUE -N
797,648 F

(M) AMGEN INC
33,482 F

(N) APACHE CORP
23,484 F

(O) APPLE INC
49,803 F

(P) APPLE INC 2.85% 05/06/2021
51,038 F

(Q) ARCONIC INC
20,913 F

(R) BALL CORP COM
2,090,850 F

(S) BANK OF AMERICA CORP
72,709 F

(T) BANK OF NEW YORK MELLON CORP
37,335 F

(U) BB&T CORP
75,890 F

(V) BECTON DICKINSON & CO
28,806 F

(W) BIO-LOGICAL CAPITAL
700,000 F

(X) BLACKROCK STRATEGIC INCOME OPPS
557,799 F

(Y) BLOOMER HOLDINGS
162,583 F

(Z) BOEING CO
31,136 F

(AA) BP AMOCO PLC
10,765 F

(AB) BP PRUDHOE BAY ROYALTY TRUST
10,450 F

(AC) BUFFALO MID CAP FUND #1446
96,920 F

(AD) CABOT MICROELECTRONICS CORP
21,099 F

(AE) CACI INTERNATIONAL INC
12,927 F

(AF) CANON INC ADR
9,990 F

(AG) CASH
5,992,447 F

(AH) CATO CORP-CL A
18,620 F

(AI) CAUSEWAY INTERNATL VALUE INV
203,545 F

(AJ) CGM TRUST REALTY FUND
95 F

(AK) CHAMPLAIN SMALL CO FD-ADV
149,994 F

(AL) CHEMOURS CO
8,262 F

(AM) CHESAPEAKE GRANITE WASH TRUST
2,846 F

(AN) CISCO SYSTEMS INC
60,228 F

(AO) CITIGROUP INC
64,898 F

(AP) COHEN & STEERS REALTY SHARES#1262
124,690 F

(AQ) COLUMBIA BANKING SYSTEM
20,240 F

(AR) CONCHO RESOURCES INC
22,277 F

(AS) COSTCO WHOLESALE CORP
11,208 F

(AT) CREDIT SUISSE GROUP ADR
13,924 F

(AU) CVS HEALTH CORP
20,911 F

(AV) DEVRY INC
15,101 F

(AW) DIAGEO CAPITAL PLC 1.125% 04/29/2018
49,686 F

(AX) DIAMOND HILL LARGE CAP FD-A
253,504 F

(AY) DIEBOLD INC.
27,690 F

(AZ) DODGE & COX INTL STOCK FUND
41,732 F

(BA) DODGE & COX STOCK FUND #145
3,232,911 F

(BB) DORCHESTER MINERALS LP
3,352 F

(BC) EATON CORP PLC
51,928 F

(BD) EMCOR GROUP INC COMMON STOCK
24,624 F

(BE) ENDURO ROYALTY TRUST
4,019 F

(BF) ENI S P A SPONSORED ADR
13,380 F

(BG) ERSTE BANK DER OSTERRECHISCHEN SPARKASSEN AG
12,267 F

(BH) ETFS PALLADIUM TRUST
59,472 F

(BI) ETFS PLATINUM TRUST
46,834 F

(BJ) FAIR ISAAC CORP
8,107 F

(BK) FEDERATED INVESTORS INC CL B
27,318 F

(BL) FOMENTO ECONOMICO MEX
9,755 F

(BM) FOOT LOCKER INC.
10,846 F

(BN) FPA NEW INCOME INC FUND
564,531 F

(BO) GENERAL ELEC CO COM
54,542 F

(BP) GEOTHERMAL ENERGY FUND
59,741 F

(BQ) GILEAD SCIENCES INC COM
36,664 F

(BR) GLAXO SMITHKLINE PLC ADR
15,828 F

(BS) GOLDMAN SACHS GROUP INC.
50,045 F

(BT) GREIF INC-CL A
18,164 F

(BU) HAEMONETICS CORP/MASS
18,693 F

(BV) HALLIBURTON CO
18,066 F

(BW) HALYARD HEALTH INC
18,009 F

(BX) HARBOR MID CAP VALUE FUND #023
103,588 F

(BY) HERSHEY FOODS CORPORATION
91,018 F

(BZ) HEWLETT-PACKARD CO
22,770 F

(CA) HOME DEPOT
1,530,523 F

(CB) HP INC
50,679 F

(CC) HUGOTON ROYALTY TRUST TEXAS UNIT BEN INT
4,586 F

(CD) I SHARES SILVER TRUST
61,271 F

(CE) IBM CORP
50,295 F

(CF) ING GROEP N V SPONSORED ADR
15,186 F

(CG) INTEL CORP
53,063 F

(CH) INTESA SANPAOLO ADR
17,165 F

(CI) ISHARES COHEN & STEERS RLTY
289,155 F

(CJ) ISHARES DJ US ENERGY SECTOR
29,327 F

(CK) ISHARES MSCI ACWI EX US INDEX FUND
261,070 F

(CL) ISHARES MSCI CANADA
77,143 F

(CM) ISHARES MSCI DENMARK CAPPED
32,787 F

(CN) ISHARES MSCI EAFE INDEX FUND
604,260 F

(CO) ISHARES MSCI EMU
1,039,142 F

(CP) ISHARES MSCI IRELAND CAPPED INVT MKT
27,697 F

(CQ) ISHARES MSCI ITALY CAPPED INDEX FD
18,036 F

(CR) ISHARES MSCI JAPAN INDEX
53,355 F

(CS) ISHARES MSCI MEXICO CAPPED ETF
38,738 F

(CT) ISHARES MSCI NETHERLANDS ETF
27,096 F

(CU) ISHARES MSCI NORWAY CAPPED
31,556 F

(CV) ISHARES MSCI SPAIN CAPPED ETF
27,464 F

(CW) ISHARES MSCI SWITZERLAND IND
37,326 F

(CX) ISHARES MSCI UNITED KINGDOM
53,861 F

(CY) ISHARES RUSSELL 2000
92,535 F

(CZ) ISHARES RUSSELL MIDCAP INDEX
821,325 F

(DA) ISHARES RUSSELL MIDCAP VALUE INDEX FUND
162,469 F

(DB) ISHARES S&P PREF STK INDX FN
37,210 F

(DC) ISHARES TRUST RUSSELL 2000
453,366 F

(DD) ISHARES TRUST RUSSELL 2000 GROWTH
14,316 F

(DE) JENSEN PORTFOLIO CL
3,322,827 F

(DF) JOHNSON & JOHNSON
8,526 F

(DG) JPMORGAN CHASE & CO
97,335 F

(DH) KIRBY CORP
17,822 F

(DI) KONINKLIJKE PHILPS ELECTRIC N.V.
15,071 F

(DJ) LAS VEGAS SANDS CORP
38,722 F

(DK) MACY'S INC
43,903 F

(DL) MAGMA ENERGY FUND
553,698 F

(DM) MALLINCKRODT PLC
31,984 F

(DN) MANTECH INTL CORP-A
16,013 F

(DO) MARKEL CORP COM
22,613 F

(DP) MARSICO FOCUS FUND #40
159,795 F

(DQ) MATRIX SERVICE CO
20,067 F

(DR) MOLSON COORS BREWING CO -B
386,515 F

(DS) MORGAN STANLEY INDIA INVESTMENT
14,527 F

(DT) MORGAN STANLEY INS INTL EQ-L
164,979 F

(DU) MORGAN STANLEY INST INTL EQ-I
7,036,507 F

(DV) MV OIL TRUST
1,607 F

(DW) NOVARTIS AG SPONSORED
1,371,796 F

(DX) OAKMARK INTERNATIONAL FUND (HARRIS) #109
837,027 F

(DY) OAKTREE CAPITAL GROUP LLC
18,300 F

(DZ) OPPENHEIMER HOLDINGS-CL A
12,295 F

(EA) ORACLE CORPORATION
22,916 F

(EB) ORACLE CORPORATION
50,670 F

(EC) ORBITAL ATK INC
20,792 F

(ED) PBF ENERGY INC
35,296 F

(EE) PERKINELMER INC
15,489 F

(EF) PERMIAN BASIN ROYALTY TRUST
6,137 F

(EG) PHILIP MORRIS INTERNATIONAL
50,034 F

(EH) PHILLIPS 66
36,724 F

(EI) POWELL INDUSTRIES INC
16,380 F

(EJ) PRINCIPAL FINANCIAL GROUP
140,658 F

(EK) QUALCOMM INC
53,855 F

(EL) RAYONIER INC
17,689 F

(EM) REGAL BELOIT CORP
17,382 F

(EN) ROYAL DUTCH SHELL PLC-ADR A
10,441 F

(EO) ROYCE PREMIER FUND (INV CL) #265
60,771 F

(EP) SABINE ROYALTY TRUST-SBI
4,113 F

(EQ) SAN JUAN BASIN ROYALTY TRUST-UBI
2,059 F

(ER) SANDRIDGE MISSISSIPPIAN TRUST I
644 F

(ES) SANDRIDGE MISSISSIPPIAN TRUST II
952 F

(ET) SANDRIDGE PERMIAN TRUST
2,245 F

(EU) SCANSOURCE INC
16,665 F

(EV) SCHLUMBERGER LIMITED
23,170 F

(EW) SCOUT UNCONSTRAINED BOND
129,273 F

(EX) SEALED AIR CORP
16,277 F

(EY) SPDR BARCLAYS CAPITAL HIGH YIELD BOND ETF
36,815 F

(EZ) SPDR DJ WILSHIRE INTERNATIONAL REAL ESTATE ETF
239,932 F

(FA) SPDR GOLD TRUST
63,793 F

(FB) SPDR S& P KBW REGIONAL BANKING ETF
138,925 F

(FC) SPDR S&P 500 ETF TRUST
784,367 F

(FD) STARBUCKS CORP 2.1% 02/04/2021
49,840 F

(FE) STERIS CORPORATION
19,206 F

(FF) STIFEL FINANCIAL CORP
23,726 F

(FG) SUN LIFE FINANCIAL INC
12,637 F

(FH) SUPERIOR ENERGY SERVICES INC
13,622 F

(FI) SYNAPTICS INC
18,914 F

(FJ) T ROWE PRICE INSTITUTIONAL FLOATING RATE
88,426 F

(FK) T ROWE PRICE INTERNATIONAL BOND #76
43,873 F

(FL) T ROWE PRICE MID-CAP GROWTH #64
2,066,341 F

(FM) T ROWE PRICE MIDCAP VALUE #115
1,127,683 F

(FN) TARGET CORP 2.3% 06/26/2019
50,806 F

(FO) TE CONNECTIVITY LTD
356,307 F

(FP) THE BRINK'S COMPANY
25,286 F

(FQ) TOTAL SA-SPON ADR
10,551 F

(FR) TRAVELERS COS INC
10,038 F

(FS) TWEEDY BROWNE GLOBAL VALUE FUND #1
967,041 F

(FT) UMB FINANCIAL CORP
18,509 F

(FU) UMPQUA HOLDINGS CORP
22,949 F

(FV) UNION BANKSHARES CORP
18,549 F

(FW) VANECK VECTORS EGYPT INDEX E
32,842 F

(FX) VANECK VECTORS VIETNAM ETF
31,166 F

(FY) VANGUARD 500 INDEX FUND ADMIRAL #540
710,818 F

(FZ) VANGUARD ENERGY FUND ADMIRAL CL #0551
519,241 F

(GA) VANGUARD ENERGY FUND INVESTOR SHS #51
162,975 F

(GB) VANGUARD INTERNATIONAL EXPLORER FUND #126
54,108 F

(GC) VANGUARD MID-CAP ETF
144,793 F

(GD) VANGUARD MID-CAP INDEX FUND INV #859
147,128 F

(GE) VANGUARD SHORT TERM INVESTMENT GRADE ADMIRAL CL FUND #0539
1,449,710 F

(GF) VANGUARD SHORT TERM TREASURY-AD #532
49,894 F

(GG) VANGUARD SHORT-TERM INVESTMENT GRADE INV #39
4,274,219 F

(GH) VANGUARD TOTAL BOND MARKET ETF
311,042 F

(GI) VANGUARD WELLESLEY INCOME FUND
2,958,278 F

(GJ) VF CORP
10,930,455 F

(GK) VISTA OUTDOOR INC
14,760 F

(GL) VOC ENERGY TRUST
2,891 F

(GM) WEATHERFORD INTERNATIONAL PLC
8,777 F

(GN) WELLS FARGO & CO
502,438 F

(GO) WENDY'S CO/THE
14,913 F

(GP) WEST PHARMACEUTICAL SERVICES
9,162 F

(GQ) WESTERN ASSET CORE PLUS BOND FUND CL A
311,581 F

(GR) WEX INC
19,976 F
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet 68,013,451
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet  
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2016
Page 4

Schedule D (Form 990) 2016
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1 15,362,344
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a -36,258
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d ..................... 2e -36,258
3 Subtract line 2e from line 1.................. 3 15,398,602
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b.................... 4c 0
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 15,398,602
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1 6,278,418
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d.................... 2e 0
3 Subtract line 2e from line 1................... 3 6,278,418
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ............ 4b  
c Add lines 4a and 4b..................... 4c 0
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 6,278,418
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART X, LINE 2: AMG CHARITABLE GIFT FOUNDATION HAS BEEN CLASSIFIED AS A NON-PRIVATE FOUNDATION (I.E. - A PUBLIC CHARITY) BY THE INTERNAL REVENUE SERVICE AND IS TAX EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). FROM TIME TO TIME, THE FOUNDATION MAY RECEIVE INCOME THAT IS DETERMINED TO BE UNRELATED BUSINESS TAXABLE INCOME (UBTI). IN THESE INSTANCES, THE FOUNDATION MUST PAY REGULAR CORPORATE INCOME TAX ON THIS INCOME, TO THE EXTENT IT EXCEEDS THE RELATED DEDUCTIONS. FOR THE YEAR ENDED DECEMBER 31, 2016, THE FOUNDATION HAD NO UBTI TAX. THE FOUNDATION ADOPTED PROVISIONS OF ASC 740-10 "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" WHICH PRESCRIBES WHEN TO RECOGNIZE AND HOW TO MEASURE THE FINANCIAL STATEMENT EFFECTS, IF ANY OF INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON ITS INCOME TAX RETURNS, INCLUDING THE POSITION THAT THE FOUNDATION CONTINUES TO QUALIFY TO BE TREATED AS A TAX-EXEMPT ENTITY FOR BOTH FEDERAL AND STATE TAX PURPOSES. THESE RULES REQUIRE MANAGEMENT TO EVALUATE THE LIKELIHOOD THAT, UPON EXAMINATION BY THE RELEVANT TAXING JURISDICTIONS, THOSE TAX POSITIONS WOULD BE SUSTAINED. THE FOUNDATION UNDERGOES AN ANNUAL ANALYSIS OF ITS VARIOUS TAX POSITIONS ASSESSING THE LIKELIHOOD OF THOSE POSITIONS BEING UPHELD UPON EXAMINATION WITH RELEVANT TAX AUTHORITIES, AS DEFINED BY ASC 740-10.
Schedule D (Form 990) 2016


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