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Form

Exempt Organization Business Income Tax Return

'

1545-06 7

MB

(and proxy tax under section 6033(e))
For calendar year 2015 or other tax year beginning

2015

, and ending

D Information about Form 990-T and its instructions is available at www.Irs.gov/form990t.
Department of the Treasury
Internal Revenue Servtce

en

> Do not enter SSN numbers on this form as it may be made public ityour organization is a 501(c)(3)

A El Check box it

Name of organization ( E] Check box if name changed and see instructions.)

instructions)

Print
0'
Type

BONNEVILLE HOLDING COMPANY
Number, street, and room or swte no. If a P.O. box, see instructions.

Elmo) Elms)

5 o E . NORTH TEMPLE ST , RM. 2 2 2 5

D408A [3530(a)

City or town, state or provmce, country, and ZIP or foreign postal code

Elmo)

SALT LAKE CITY, UT

C gogrfdvgluyeegr' 3" assets

6 Check organization type b

IC nspecron OT

I

74-2368286
E (gn'e'a'ed
busmss ad'v'ly mes
eeinstructions)

84150

F Group exemption number (See instructions.)

U

D mfgggrgggfagg "umbe'

address changed

B Exempt under section
[K] 501(C )( 3 )

0

5 1(c)(3) Organizations OLly

525990

P

IE] 501(0) corporation

Ii] 501(0) trust

E] 401(a) trust

[Z] Other trust

H Describe the organization's primary unrelated busmess actiVity. b INVESTMENTS
I During the tax year, was the corporation 8 sub3idiary in an affiliated group or a parent-sub5idiary controlled group?

J The books are in care of D NATHAN BROWN
l Part I ) Unrelated Trade or Business Income
1a Gross receipts or sales
b Less returns and allowances
2

(A) Income

c Balance

D

2

3 Gross profit. Subtract line 2 from line 1c
4a Capital gain net income (attach Schedule D)

3
4a

b Net gain (loss) (Form 4797, Part II, line 17) (attach Form 4797)

45

c Capital loss deducti0n for trusts

4c

5

Income (loss) from partnerships and S corporations (attach stat

6

Rent income (Schedule C)

6

Unrelated debt-financed income
Interest, annumes, royalties, and ren
Sch. F)
Investment income of a each n 5 1(4)
)OLWBII n
hedule G
Expl0ited exempt actiVIty inco ed( chedtmt); 2 g
*
Advertismg income (Schedule r;
Other income (See instructions;

7
8
9
10
11
12

E13 Total.Combinelines3throuoh 2
Part II

out)

QB

[3 No

Telephonenumber> (801)
(8) Expenses

240-6608
(C) Net

1c

Cost of goods sold (Schedule A, line 7)

7
8
9
10
11
.1512

P III Yes

SEE STATEMENT 3

If "Yes," enter the name and Identifying number of the parent corporation. >

5

-142 , 965 .
-2 , 015 , 557 .

-142 , 965 .
STMT 1

-2 , 0l5 , 557 .

13 -2,158,522.

-2,158,522.

Deductions Not WsWhere (See instructions for limitations on deductions.)

1

(Except for contributions, deductions must be directly connected With the unrelated busmess income.)

__14
215
Elk16

Compensation of officers, directors, and trustees (Schedule K)
Salaries and wages
Repairs and maintenance

14
15
16

M17

Bad debts

17

E18

Interest (attach schedule)

18

4" 19

Taxes and licenses

L5 20

Charitable contributions (See instructions for limitation rules)

U) 21
22

Deprecration (attach Form 4562)
Less depreCIation claimed on Schedule A and elsewhere on return

19

STATEMENT 4

SEE STATEMENT 2
21
22a

20

0 .

22b

23

Depletion

23

24
25
26
27
28

Contributions to deferred compensation plans
Employee benefit programs
Excess exempt expenses (Schedule I)
Excess readership costs (Schedule J)
Other deductions (attach schedule)

24
25
26
27
28

29

Total deductions. Add lines 14 through 28

29

30
31
32
33

Unrelated busmess taxable income before net operating loss deduction. Subtract line 29 from line 13
Net operating loss deduction (limited to the amount on line 30)
SEE STATEMENT 5
Unrelated busmess taxable income before specmc deduction. Subtract line 31 from line 30
SpeCific deduction (Generally $1,000, but see line 33 instructions for exceptions)

30 - 2 , l 5 8 , 5 2 2 .
31
32 - 2 , 1 5 8 , 5 2 2 .
33
1 , 000 .

34

0.

Unrelated business taxable income. Subtract line 33 from line 32. If line 33 is greater than line 32, enter the smaller of zero or

W32
33.9.1",

LHA

34 -2,158,522.
Form 990-T (2815)

For Paperwork Reduction Act Notice, see instructions.

Quit;

For") 990'T12015)

BONNEVILLE HOLDING COMPANY

74-2368286

Page 2

[ Part IIU Tax Computation
l

35

Organizations Taxable as Corporations See instructions for tax computation.

Controlled group members (sections 1561 and 1563) check here > [El See instructions and;
a Enter your share of the $50,000, $25,000, and $9,925,000 taxable Income brackets (in that order);

l

(1) Is_

0.)

(2)l$

0.

(3)3

b Enter organization's share of; (1) Additional 5% tax (not more than $11,750)
(2) Additional 3% tax (not more than $100,000)
c Income tax on the amount on line 34

0.

$
$

0 .
0 .

36

Trusts Taxable at Trust Rates. See instructions for tax computation. Income tax on the amount on line 341mm;

37

C] Tax rate schedule or E] Schedule 0 (Form 1041)
Proxy tax See instructtons

P

350

b
P

36
37

38

Alternative minimum tax

38

39

Total. Add lines 37 and 38 to line 350 or 36,Lhichevemplies

39

0 .

0 .

[Part IV Tax and Payments
40a Foreign tax credit (corporations attach Form 1118; trusts attach Form 1116)

b
0
d
e

41

)

40a

Other credlts (see tnstructtons)
General busrness credit. Attach Form 3800
Credit for prior year minimum tax (attach Form 8801 or 8827)
Total credits. Add lines 403 through 40d

40b
40c
40d
40c

Subtract line 40e from line 39

42 Other taxes. Check it from; El Form 4255 [3 Form 8611 Ii] Form 8697 [2] Form 8866 El Other (attach schedule)
43 Total tax. Add lines 41 and 42

i

44 a Payments; A 2014 overpayment credited to 2015

0.

42
43

0.

44a

b 2015 estimated tax payments
0 Tax deposrted With Form 8868

44b
440

d Foreign organizations Tax paid or Withheld at source (see Instructions)

44d

e Backup Withholding (see instructions)
1 Credit for small employer health insurance premiums (Attach Form 8941)

44a
441

9 Other credits and payments;

'2] Form 2439

D Form 4136

D Other

Total p 449

45
46

Total payments. Add lines 44a through 449
Estimated tax penalty (see instructions). Check it Form 2220 is attached > El

45
46

47

Tax due. mine 45 15 less than the total of lines 43 and 46, enter amount owed

b

47

0 .

48

Overpayment. ll line 45 IS larger than the total of lines 43 and 46, enter amount overpaid

b

48

0 .

D

49

49 Erter the amount of line 48 you want; Credited to 2016 estimated tax P
J Retunded
I pan v
Statements Regarding Certain Activities and Other Information (see instructions)
1

41

At any time during the 2015 calendar year, did the organization have an interest in or 3 Signature or other authority over a financial account (bank,

Yes

securities, or other) in a foreign country? it YES, the organization may have to tile FinCEN Form 114, Report of Foreign Bank and Financral
Accounts. If YES, enter the name of the foreign country here F

X

2 542%? 32.2 5235211533 52.503313332323213;$1332$349333!as " '"e Wu" 0" 0' "WW '0' a 'O'E'g" ""5"
3

No

X

Enter the amount of tax-exermgt interest received or accrued during the tax yea? 15

Schedule A - Cost Of Goods Sold. Enter method of inventory valuation b

NLA

l
t

1
2

Inventory at beginning of year
Purchases

1
2

6 Inventory at end 01 year
7 Cost of goods sold. Subtract line 6

6

l

3
4a
b
5

Cost of labor
Additional section 263A costs (att schedule)
Other costs (attach schedule)
Total Add lines 1 through 4b

3
4a
4b
5

from line 5. Enter here and in Part l, line 2
8 Do the rules 01 section 263A (wrth respect to
property produced or acqu1red for resale) apply to
the Omanization?

7
Yes

No

Under penalties of perjury, l declare that l have examined this return, including accompanying schedules and statements, and to the best or my knowledge and belief, it is true,
COR

-; a - l

. or (other than taxpayer) is based on all Information of which preparer has any knowledge

May the lRS discuss this return wrth

Here

.
Signa

I I

.

I '

l

3

the preparer shown below (see
Title

Print/Type preparer's name

Paid

Preparer's Signature

instructions)? [I Yes [3 No

Date

Check

it

PTlN

self- employed

Preparer
use only Firm's name >
Firm's address

523711 01-06-16

1

Flrm's EIN F
5

Phone no.

Form 990-T(2015)

Form 990-.T (2015) .BONNEVILLE HOLDING COMPANY

74-2 368286

Page 3

Schedule C - Rent Income (From Real Propegy and Personal Property Leased With Real Property)(see Instructions)
1

Description of property

(11
(2)
(Qt
Jit
2.

Rent received or accrued
i

I

3mDTEES-$32K52mm'tttzzuso

(i 5233;; 2212232",tastiest;emerge

(a) fgiusegzsssiz'zissuiretinitis0'
10% b'Jl "m "We i"Vain 50%)

m

the rent is based on profit or Income)

(1)
(21
Q)
(4)
Total

0 .

Total

0 .

(c) Total income. Add totals of columns 2(a) and 2(b). Enter
here and on page 1, Part l, line 6, column (A)

(b) Total deductions.
p

0 .

$2512.? g?go?3n5ria?3)1' L

0 ,

Schedule E - Unrelated Debt-Financed Income (see instructions)
3, Deductlons directly connected With or allocable

to debt-linanced property

2. Gross Income from
or allocable to debttinanced property

1. Description ol debt-financed property

(a) Straight line depremation
(anach schedule)

(b) Other deductions
attach schedule)

Q)
(2)
(3)
Jill
4, Amount 01 average acqmsition
debt on or allocable to debt-financed
property (attach schedule)

5, Average adjusted bests
at or allocable to

6

Column 4 diVided
by column 5

8, Allocable deductions

7. Gross income
reportable (column
2 x column 6)

debt-financed property

(column 6 x total of columns
3(a) and 3(b))

(attach schedule)

Cl)

%

i2)
13)

%
%

(4)

0/o

Totals

Enter here and on page 1,

Enter here and on page 1,

Part l. line 7. column (A)

Part l, line 7, column (8)

V

Total dividends-received deductions included in column 8

0.

0.

b

0 .

Schedule F - Interest, Annuities, Royalties, and Rents From Controlled Organizations (see instructions)
Exempt Controlled Organizations
1

4

Name of controlled organization
Employer identification
number

Net unrelated Income
(loss) (see instructions)

Total of speCitied
payments made

5. Part of column 4 that is
included in the controlling
organization's gross Income

6. Deductions directly
connected With income
in column 5

J1)

42)
J3)
(4)
Nonexempt Controlled Organizations
7. Taxable income

8. Net unrelated income (loss)
(see instructions)

9_ Total of speCified payments
made

10

Part 01 column 9 that is included
in the controlling organization's
gross Income

11

Deductions directly connected
wrth income in column 10

(1)
(2)
(3)

(4L

Totals
523721 01-06-18

P

Add columns 5 and 10

Add columns 6 and 11

Enter here and on page 1. Part I,
line 8. column (A)

Enter here and on page 1. Part l,
line 8. column (B)

O.

O.
Form 990-T (2015)

74-2368286

Form 990-.T(2015)-BONNEVILLE HOLDING COMPANY

Page 4

Schedule G - Investment Income of a Section 501(c)(7), (9), or (17) Organization
(see Instructions)
3. Deductions
1

Description of income

2' Amount of Income

directly connected
(attach schedule)

5. Total deductions
4. Set-a5ides
(attach schedule)

and set-asides
(col 3 plus col 4)

(1)
(2)

(3)
(4)

Totals

Enter here and on page 1.
Part I, line 9, column (A)

Enter here and on page 1,
Part I, line 9. column (B)

0 ,

0 ,

)

Schedule I - Exploited Exempt Activity Income, Other Than Advertising Income
(see instructions)

1. Description of

unrelated busmess

exploned activity

4. Net income (loss)
Irom unrelated trade or

3 Expenses
directly connected
With production
of unrelated
business Income

2. Gross
income Irom

trade or business

busmess (column 2

minus column 3) Ila
gain, compute cols 5
mwugh 7

5. Gross income
from actiwty that
is not unrelated

business income

6. Expenses
attributable to
column 5

7. Excess exempt
expenses (column
6 minus column 5,

but not more than
column 4)

(1)

(2)
(3)
(4)
Enter here and on
page 1. Part I.
line 10, col (A)

Enter here and on
page 1, Part I.
line 10, col (B)

Enter here and
on page 1,
Part II, line 26

Totals
>
0 .
O .
Schedule J - Advertising Income (seei nstructions)
part 1 Income From Periodicals Reported on a Consolidated Basis

g' (Etrofs
a Ixzor'ieng

1. Name of periodical

3. Direct
advertismg costs

4. Advertising gain
or (loss) (col 2 minus
col 3) Ira gain. compute

0 .

7. Excess readership

5 Circulation
income

6. Readership
costs

cols 5 through 7

costs (column 6 minus
column 5. but not more
than column 4)

(1)
(2)
(3)
(4)
Totals (grrLto PartLIiiMSL

0.

>

0.

0.

Part II Income From Periodicals Rep orted on a Separate Basis (For each perlodlcal listed In Part II, fill In
columns 2 through 7 on a tine-by-Iine basis)
7. Excess readership

4. Advertismg gain

2. Gross

3. Dlrect

or (loss) (col 2 minus

advertismg

1. Name of periodical

advertxsmg costs
income

col 3) Ifa gain. compute

5. Circulation
income

cols 5 through 7

5. Readership

costs (column 0 minus

costs

column 5, but not more
than column 4)

(1)
(2)
(3)
(4)

Totals Irom Partl

P

0.
Enter here and on

Totals, Part II (lines 1-5)

F

0.

0.

Enter here and on

Enter here and

page 1, Part I,

page 1, Part I.

on page 1.

line 11. col (A)

line11.coi (B)

Part II, line 27

0.

0.

0.

Schedule K - Compensation of Officers, Directors, and Trustees (see instructions)
, Percent of
1. Name

2. Title

time devoted to

4. Compensation attributable
to unrelated busmess

busmess

Form 990-T (2015)
523731
01-06-18

Alternative Minimum Tax - Corporations
b Attach to the corporation's tax return.

Ezfmmem'o! the Treasury
,mema. Revenue games

OMB No 1545.012;

> Information about Form 4626 and its separate instructions is at www.irs gov/form4626.

Name

Employer identification number

BONNEVILLE HOLDING COMPANY

74-2 3 68286

Note; See the instructions to find out if the corporation is a small corporation exempt

from the alternative minimum tax (AMT) under section 55(e).

Taxable income or (loss) before net operating loss deduction

1

-2 , 158 , 522 .

a Deprecration of post-1986 property

2a

2l6 , 5O9 .

b Amortization of certified pollution control facnities
c Amortization of mining exploration and development costs

2b
2c

2

Adjustments and preferences;

d Amortization of Circulation expenditures (personal holding companies only)

2d

e Adiusted gain or loss

2e

f Long-term contracts

2f

9 Merchant marine capital construction funds

lg

n Section 833(b) deduction (Blue Cross, Blue Shield, and Similar type organizations only)

2h

i

2i

Tax shelter farm actiVities (personal serVice corporations only)

j Passwe activnies (closely held corporations and personal serVIce corporations only)

2]

It Less limitations

2k

I

-l , 950 .

Depletion

2l

m Tax-exempt interest income from speCIfied private actiwty bonds

2m

n Intangible drilling costs

2n

0 Other adjustments and preferences

*

3

Pre-adiustment alternative minimum taxable income (AMTl). Combine lines 1 through 20

4

Adjusted current earnings (ACE) adjustment;

a ACE from line 10 of the ACE worksheet in the instructions

20

3
4a

- 1 , 9 4 3+9 6 3 .

4b

0.

-1 , 943 , 963 .

b Subtract line 3 from line 4a. If line 3 exceeds line 4a, enter the difference as a

negative amount (see instructions)
c Multiply line 4b by 75% (.75). Enter the result as a posmve amount
it Enter the excess, if any, of the corporation's total increases in AMTI from prior
year ACE adiustments over its total reductions in AMTI from prior year ACE
adjustments (see instructions). Note; You must enter an amount on line 4d
(even if line 4b is pOSitive)

4c

4d

e ACE ad)ustment.
0

5

If line 4b is zero or more, enter the amount from line 40

0 If line 4b 15 less than zero, enter the smaller of line 4c or line 4d as a negative amount
Combine lines 3 and 4e. lf zero or less, stop here; the corporation does not owe any AMT

6

Alternative tax net operating loss deduction (see instructions)

7

Alternative minimum taxable income Subtract line 6 from line 5. if the corporation held a reSidual

STATEMENT 8

8

Exemption phaseeout (if line 7 is $310,000 or more, skip lines 8a and 8b and enter -0- on line So);

interest in a REMIC, see instructions

4e

0 .

5

-L943,963.

6
7

a Subtract $150,000 from line 7 (if completing this line for a member of a controlled
group, see instructions). If zero or less, enter -0-

Ba

b Multiply line 8a by 25% (.25)
8b
c Exemption. Subtract line 8b from $40,000 (if completing this line fora member of a controlled
group, see instructions). If zero or less. enter -09
Subtract line 80 from line 7. If zero or less, enter -010
Multiply line 9 by 20% (.20)
11
Alternative minimum tax foreign tax credit (AMTFTC) (see instructions)

8c
9
10
11

12

Tentative minimum tax. Subtract line 11 from line 10

12

13

Regular tax liability before applying all credits except the foreign tax credit

13

14

Alternative minimum tax Subtract line 13 from line 12. lfzero or less, enter -0-. Enter here and on
Form 1120,8cheduleilinejl or the apmpriate line of the corporation's income tax return

JWA For Paperwork Reduction Act Notice, see separate instructions.
*

SEE ALSO

Form 4626 (2015)
STATEMENT 6

STATEMENT 7
517001
12.03-15

14

e

74-2368286

BONNEVILLE HOLDING COMPANY
Adjusted Current Earnings (ACE) Worksheet
> See ACE Worksheet InstructIons.
1
2

Pre-adIustment AMTI. Enter the amount from Me 3 of Form 4626
ACE depreCIatIon adIustmentz
a AMT deprecIatIon
b ACE depreCIatIonz

- 1 , 9 4 3 L9 6 3 .

2a

(1) Post-1993 property
(2) Post-1989, pre-1994 property

211m
2b(2)

(3)

Pre-1990 MACRS property

2b(3)

(4) Pre-1990 orIgInal ACRS property
(5) Property descnbed In sectIons
168(t)(1) through (4)

2b(5)
2M)

(6) Other property
2b(6)
(7) Total ACE depreCIatIon. Add lInes 2b(1) through 2b(6)

3

1

2MB

c ACE depreCIatIon adjustment. Subtract IIne 2b(7) from IN 2a
lnclusron In ACE of Items Included In earnIngs and profrts (E&P);
a Tax-exempt Interest Income

26

3a

b
c
d
e

Death benefIts from We Insurance contracts
3b
All other dIstrIbutIons from we Insurance contracts (IncludIng surrenders)
3c
lnsrde buIldup of undIstrIbuted Income In Me Insurance contracts
3d
Other Items (see Regulatrons sectIons 1.56(g)-1(c)(6)(III) through (Ix)
for a panel IIst)
3e
f Total Increase to ACE from Inclusron In ACE of Items Included In E&P. Add lInes 3a through 3e
4 DIsalIowance of Items not deducthle from E&P;

a CertaIn dIvIdends recered

4a

b DIVIdends pardon certaIn preferred stock of publIc utIlItIes that are deducthle
under sectIon 247
411
c DIVIdends mm to an ESOP that are deducthle under sectIon 404(k)
4c
d Nonpatronage dIVIdends that are mm and deducthle under sectIon
1382(c)
4d
e Other Items (see Regulatlons sectIons 1.55(g)-1(d)(3)(I) and (II) for a
mum lIst)
4e
1 Total Increase to ACE because of dIsallowance of Items not deducthle from E&P. Add lInes 4a through 4e
5

3r

4t

Other adrustments based on rules for hgunng E&P;

a lntangrble drIllIng costs

53

b CIrculatIon expendItures

5b

c
d
e
1

5c
5d
5e

OrganIzatIonal expendrtures
LIFO Inventory adrustments
Installment sales
Total other E&P adjustments. CombIne lInes 5a through 56

51

6

DIsaltowance of loss on exchange of debt pools

6

7

Acqmsmon expenses of Me Insurance companIes for qualItIed toreIgn contracts

7

8

DepletIon

8

BaSIS adlustments In determInIng pan or loss from sale or exchange of ore-1994 property
Adjusted current earnings. CombIne lInes 1, 2c, 3t, 4t, and 5f through 9. Enter the result here and on We 4a of

9

Form4626

10

9
10

517021

04-01-15

-1,943,963.

74*2368286

-BONNEVILLE HOLDING COMPANY

FORM 990-T

INCOME

(LOSS) FROM PARTNERSHIPS
AND S CORPORATIONS

STATEMENT

DESCRIPTION

AMOUNT

-ll,319.
-2,004,238.

MSR I SLP COMPANY LLC
MSR I LP
TOTAL TO FORM 990-T,

PAGE 1,

-2,015,557.

LINE 5

STATEMENT

FORM 990-T

CONTRIBUTIONS

DESCRIPTION/KIND OF PROPERTY

METHOD USED TO DETERMINE FMV

CONTRIBUTION CARRYOVER

N/A

TOTAL TO FORM 990-T,

FORM 990-T

1

PAGE 1,

2

AMOUNT
860.
860.

LINE 20

PARENT CORPORATION'S NAME AND IDENTIFYING NUMBER

STATEMENT

3

CORPORATION'S NAME

IDENTIFYING NO

CORPORATION OF THE PRESIDENT

23*7300405

STATEMENT(S)

1,

2,

3

74-2368286

.BONNEVILLE HOLDING COMPANY

FORM 990-T

CONTRIBUTIONS SUMMARY

STATEMENT

4

STATEMENT(S)

4

QUALIFIED CONTRIBUTIONS SUBJECT TO 100% LIMIT
CARRYOVER
FOR TAX
FOR TAX
FOR TAX
FOR TAX
FOR TAX

OF PRIOR YEARS UNUSED CONTRIBUTIONS
YEAR 2010

YEAR
YEAR
YEAR
YEAR

2011
2012
2013
2014

TOTAL CARRYOVER
TOTAL CURRENT YEAR 10% CONTRIBUTIONS

41
819

860
860

TOTAL CONTRIBUTIONS AVAILABLE
TAXABLE INCOME LIMITATION AS ADJUSTED

1,720

EXCESS 10% CONTRIBUTIONS
EXCESS 100% CONTRIBUTIONS
TOTAL EXCESS CONTRIBUTIONS

1,720
1,720

ALLOWABLE CONTRIBUTIONS DEDUCTION
TOTAL CONTRIBUTION DEDUCTION


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