Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2010
For calendar year 2010, or tax year beginning 01-01-2010 , and ending 12-31-2010
G
Check all that apply:
Name of foundation
EMY-LOU BIEDENHARN FOUNDATION TRUST
3605201202/R56932008/305/404/503

Number and street (or P.O. box number if mail is not delivered to street address)C/O JPMORGAN CHASE BANKNAPOBOX 3038   Room/suite
City or town, state, and ZIP code
MILWAUKEE, WI53201
A Employer identification number

23-7054824
B Telephone number (see page 10 of the instructions)

(414) 977-1210
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$18,185,500J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments 64 64  
4 Dividends and interest from securities...... 326,114 326,382  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 120,614
b Gross sales price for all assets on line 6a 7,902,195
7 Capital gain net income (from Part IV, line 2)... 181,444
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 11,794 11,794  
12 Total. Add lines 1 through 11........ 458,586 519,684  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 88,893 66,670   22,223
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 825 0   825
c Other professional fees (attach schedule).... Click to see attachment 1,691 1,691   0
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 3,392 3,392   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 1,015 3,191   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 95,816 74,944   23,048
25 Contributions, gifts, grants paid........ 0 0
26 Total expenses and disbursements. Add lines 24 and 25 95,816 74,944   23,048
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 362,770
b Net investment income (if negative, enter -0-) 444,740
c Adjusted net income (if negative, enter -0-)...  
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2010)
Form 990-PF (2010)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 104,816 151,325 151,352
2 Savings and temporary cash investments.......... 635,621 492,435 492,435
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 9,897,756 Click to see attachment10,466,757 12,474,688
c Investments—corporate bonds (attach schedule)........ 4,374,359 Click to see attachment4,873,932 5,044,684
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 603,985    
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment8 Click to see attachment8 Click to see attachment22,341
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 15,616,545 15,984,457 18,185,500
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 15,616,545 15,984,457
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see page 17 of the
instructions).................... 15,616,545 15,984,457
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 15,616,545 15,984,457
Part III Analysis of Changes in Net Assets or Fund Balances
1 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 15,616,545
2 Enter amount from Part I, line 27a...................... 2 362,770
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 12,150
4 Add lines 1, 2, and 3.......................... 4 15,991,465
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 7,008
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 15,984,457
Form 990-PF (2010)
Form 990-PF (2010)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b STCG FROM POWERSHARES DB COMMODITY INDEX TRACKING FUND      
c LTCG FROM POWERSHARES DB COMMODITY INDEX TRACKING FUND      
d GAIN FROM POWERSHARES DB COMMODITY INDEX TRACKING FUND      
e CAPITAL GAINS DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 7,890,577   7,781,581 108,996
b       128
c       3,740
d       56,962
e 11,618     11,618
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       108,996
b       128
c       3,740
d       56,962
e       11,618
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 181,444
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 Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
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.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2009 1,018,064 15,012,396 0.067815
2008 1,024,106 18,483,254 0.055407
2007 1,215,586 22,401,118 0.054265
2006 999,470 21,286,893 0.046952
2005 1,165,595 20,100,965 0.057987
2 Total of line 1, column (d) ...................... 2 0.282426
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.056485
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 16,617,892
5 Multiply line 4 by line 3....................... 5 938,662
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 4,447
7 Add lines 5 and 6......................... 7 943,109
8 Enter qualifying distributions from Part XII, line 4.............. 8 23,048
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2010)
Form 990-PF (2010)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 8,895
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2............................ 3 8,895
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 8,895
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 1,846
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,846
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 130
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 7,179
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet   Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?.............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletLA
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletJPMORGAN CHASE BANK NA Telephone no.bullet (318) 226-2382
    Located atbullet400 TEXAS STREET FLOOR 12SHREVEPORTLA ZIP+4bullet71101
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2010?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2010 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2010.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2010?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    JPMORGAN CHASE BANK NA TRUSTEE
    2.00     		88,893 0 0
    PO BOX 3038
    MILWAUKEE,WI53201
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 N/A 0
    2  
    3  
    4  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A 0
    2  
    All other program-related investments. See page 24 of the instructions.
    3 Click to see attachment 0
    Total. Add lines 1 through 3...........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    16,289,975
    b
    Average of monthly cash balances.......................
    1b
    564,387
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    16,594
    d
    Total (add lines 1a, b, and c).........................
    1d
    16,870,956
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) ..............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d..........................
    3
    16,870,956
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    253,064
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    16,617,892
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    830,895
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    830,895
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    8,895
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    8,895
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    822,000
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    822,000
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1.................................
    7
    822,000
    Part XII
    Qualifying Distributions (see page 25 of the instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    23,048
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes................................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    23,048
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    23,048
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2009     		(c)
    2009     		(d)
    2010
    1 Distributable amount for 2010 from Part XI, line 7 822,000
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2010:
    a From 2005....... 191,531
    b From 2006.......  
    c From 2007....... 165,048
    d From 2008....... 108,173
    e From 2009....... 273,042
    fTotal of lines 3a through e......... 737,794
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 23,048
    a Applied to 2009, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		 0
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2010 distributable amount..... 23,048
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2010. 737,794 737,794
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		0
    e Undistributed income for 2009. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		0
    f Undistributed income for 2010. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		61,158
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		0
    8Excess distributions carryover from 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		0
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2006....  
    b Excess from 2007....  
    c Excess from 2008....  
    d Excess from 2009....  
    e Excess from 2010....  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList 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).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Total .................................bullet 3a 0
    bApproved for future payment
    Total ..................................bullet 3b 0
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 64  
    4 Dividends and interest from securities....     14 326,114  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....     14 11,794  
    8Gain or (loss) from sales of assets other than inventory     18 120,614  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 458,586 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    13458,586
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash....................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements............................
    1b(4)
     
    No
    (5) Loans or loan guarantees..............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2010)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2010 AccountingFeesSchedule
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEES 825 0   825

    TY 2010 AllOthProgRltdInvestmentsSch
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Category Amount
    N/A 0

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Name of Bond End of Year Book Value End of Year Fair Market Value
    NATIONSBANK CORP SUB NOTES 7 3/4% AUG 15 2015 DTD 9/5/95 - 15000 SHS 17,111 16,755
    NORFOLK SOUTHERN CORP NOTES 7.70% MAY 15 2017 DTD 5/19/97 - 10000 SHS 11,178 12,214
    US TREAS BONDS AUG 15 2015 - 60000 SHS 54,019 54,984
    U S A BOND STRIPPED PRIN PMT ZERO CPN MAY 15 2017 DTD 05/16/87 - 80000 SHS 62,970 67,808
    U S A BONDS 7 1/4% MAY 15 2016 DTD 5/15/86 - 15000 SHS 17,807 18,911
    U S A BONDS 9% NOV 15 2018 DTD 11/15/88 - 35000 SHS 52,645 50,485
    ARROW ELECTRONICS INC 6 7/8% JUN 01 2018 DTD 06/03/1998 - 5000 SHS 5,408 5,632
    FNMA GTD REMIC TRUST SER 1993-208 CL K 6 1/2% NOV 25 2023 - 9911.43 SHS 10,023 11,262
    POTAST CORP SASKATCHEWAN INC NOTES 7 3/4% MAY 31 2011- 5000 SHS 5,368 5,144
    VERIZON PENNSYLVANIA NOTES 5.65% A NOV 15 2011 DTD 11/13/2001 - 15000 SHS 14,954 15,607
    HOUSEHOLD FINANCE CORP NOTES 7% MAY 15 2012 DTD 5/22/2002 - 15000 SHS 13,350 16,094
    SBC COMMUNICATIONS INC NOTES 5 7/8% AUG 15 2012 DTD 8/19/2002 - 15000 SHS 15,300 16,161
    WELLPOINT HEALTH NETWORK NOTES 6 3/8% JAN 15 2012 DTD 1/16/2002 - 5000 SHS 5,127 5,271
    WELLS FARGO COMPANY NOTES 5% NOV 15 2014 DTD 11/6/2002 - 15000 SHS 14,171 15,928
    U S A BONDS 3 7/8% FEB 15 2013 DTD 2/15/2003 - 45000 SHS 44,235 48,083
    GOLDMAN SACHS GROUP INC NOTES 5 1/4% APR 1 2013 DTD 3/31/2003 - 35000 SHS 35,488 37,574
    FHLMC REMIC 4 1/2% MAY 15 2018 DTD 5/1/2003 - 45000 SHS 41,513 48,175
    DEUTSCHE TELEKOM INT FIN NOTES 5 1/4% JUL 22 2013 DTD 7/22/2003 - 15000 SHS 14,311 16,246
    AMERICAN EXPRESS NOTES 4 7/8% JUL 15 2013 DTD 7/24/2003 - 15000 SHS 15,185 16,035
    FNMA GTD MTGE PASS THRU CTF 5 1/2% SEP 1 2033 - 12414.86 SHS 12,582 13,382
    DAIMLERCHRYSLER NA HOLDINGS NOTES 6 1/2% NOV 15 2013 DTD- 5000 SHS 5,215 5,660
    U S A NOTES 4 1/4% NOV 15 2013 DTD 11/15/2003 - 40000 SHS 39,406 43,766
    METLIFE INC NOTES 5% NOV 24 2013 DTD 11/24/2003 - 15000 SHS 15,272 16,253
    MORGAN STANLEY NOTES 4 3/4% APR 1 2014 DTD 3/30/2004 - 15000 SHS 15,064 15,360
    U S A NOTES 4.75% MAY 15 2014 DTD 5/15/2004 - 35000 SHS 36,038 39,093
    BRISTOL-MYERS SQUIBB NOTES 5 1/4% AUG 15 2013 DTD 2/15/2004 - 10000 SHS 10,390 11,054
    U S A NOTES 4 1/4% AUG 15 2014- 115000 SHS 121,096 126,860
    MERCK & CO 4 3/4% MAR 1 2015 DTD 2/17/2005 - 5000 SHS 4,976 5,506
    EXELON CORP NOTES 4.9% JUN 15 2015 DTD 6/9/2005 - 15000 SHS 14,304 15,996
    KIMBERLY-CLARK CORPORATION 4 7/8% AUG 15 2015 DTD 8/11/2005 - 5000 SHS 4,988 5,541
    U S A NOTES 4 1/4% AUG 15 2015 DTD 8/15/2005 - 25000 SHS 28,488 27,682
    CITIGROUP INC SENIOR NOTES 5.3% JAN 7 2016 DTD 12/8/2005 - 30000 SHS 29,911 31,854
    CISCO SYSTEMS NOTES 5 1/2% FEB 22 2016 DTD 2/22/2006 - 10000 SHS 9,749 11,411
    COMCAST CORP 6 1/2% JAN 15 2017 DTD 7/14/2006 - 10000 SHS 10,801 11,528
    FHLMC REMIC SER 2720 CL PC 5% DEC 15 2023 DTD 12/1/2003 - 40000 SHS 38,806 41,200
    BHP BILLITON FINANCE USA 5 1/4% DEC 15 2015 DTD 12/12/2005 - 20000 SHS 19,891 22,212
    OHIO POWER COMPANY 4.85% JAN 15 2014 DTD 7/11/2003 - 20000 SHS 19,909 21,193
    FNMA REMIC TRUST 5% SER 2003-55 CL CD JUN 25 2023 DTD 05/01/2003 - 25000 SHS 23,930 25,998
    U S A TREASURY NOTES 4 1/2% APR 30 2012 DTD 4/30/2007 - 25000 SHS 27,452 26,376
    U S A NOTES 4 1/2% MAY 15 2017 DTD 5/15/2007 - 50000 SHS 57,592 55,946
    MERRILL LYNCH & CO MEDIUM TERM NOTE 6.05% AUG 15 2012 - 15000 SHS 15,026 15,884
    GENERAL ELEC CAP CORP MEDIUM TERM NOTES 5 5/8% SEP 15 2017- 25000 SHS 24,235 27,413
    DIAGEO CAPITAL PLC NOTES 5 3/4% OCT 23 2017 DTD 10/26/2007 - 5000 SHS 5,467 5,671
    NUCOR CORPORATION NOTES 5 3/4% DEC 01 2017 DTD 12/03/2007 - 5000 SHS 5,466 5,634
    KELLOGG CO NOTES 4 1/4% MAR 06 2013 DTD 03/06/2008 - 10000 SHS 9,981 10,614
    ALLSTATE LF GLB FN TRST MEDIUM TERM NOTES 5 3/8% APR 30 2013 - 5000 SHS 4,934 5,445
    GLAXOSMITHKLINE CAP INC 5.65% MAY 15 2018 DTD 05/13/2008 - 5000 SHS 4,985 5,717
    KEYCORP MEDIUM TERM NOTES 6 1/2% MAY 14 2013 DTD 05/14/2008 - 5000 SHS 4,979 5,429
    KRAFT FOODS INC NOTES 6 1/8% AUG 23 2018 DTD 05/22/2008 - 5000 SHS 5,775 5,717
    RIO TINTO FIN USA LTD NOTES 6 1/2% JUL 15 2018 DTD 06/27/2008 - 5000 SHS 5,892 5,829
    FNMA REMIC TRUST SER 2002-11 CL QG 5.5% MAR 25 2017- 34214.69 SHS 34,300 37,062
    E.I. DU PONT DE NEMOURS SR NOTES 6% JUL 15 2018 DTD 07/28/2008 - 5000 SHS 5,080 5,749
    GOVT NATL MTG ASSN POOL #506519 6% 05/15/2014 DTD 05/01/99 - 9441.05 SHS 9,389 10,276
    FHLMC REMIC SER 2594 CL OL 5% APR 15 2018 DTD 04/01/2003 - 45000 SHS 43,903 48,885
    FANNIE MAE SER 2004-45 CL ZL 6% OCT 15 2032 DTD 05/01/2004 - 29658.474 SHS 29,776 32,773
    NATIONAL RURAL UTIL CORP 10 3/8% NOV 01 2018 DTD 10/30/2008 - 5000 SHS 6,690 6,897
    BP CAPITAL MARKETS PLC 5 1/4% NOV 07 2013 DTD 11/07/2008 - 5000 SHS 5,432 5,415
    AMERPRISE FINANCIAL INC 5.65% NOV 15 2015 DTD 11/23/2005 - 5000 SHS 5,733 5,541
    UNION PACIFIC CORP 6 1/8% JAN 15 2012 DTD 01/17/2002 - 5000 SHS 5,163 5,262
    ACE INA HOLDINGS 5.8% MAR 15 2018 DTD 02/14/2008 - 5000 SHS 4,661 5,526
    AMGEN INC SR NOTES 5.7% FEB 01 2019 DTD 01/16/2009 - 5000 SHS 5,464 5,685
    U S A TREASURY NOTES 1 3/4% JAN 31 2014 DTD 01/22/2009 - 10000 SHS 9,929 10,209
    NOVARTIS SECS INVEST LTD 5 1/8% FEB 10 2019 DTD 02/10/2009 - 5000 SHS 5,185 5,530
    CATERPILLAR FINACIAL SE MEDIUM TERM NOTE 7.15% FEB 15 2019- 5000 SHS 5,421 6,148
    FANNIE MAE SER 2006-77 CL PC 6.5% AUG 25 2036 DTD 07/01/2006 - 50000 SHS 51,359 56,517
    MIDAMERICAN ENERGY CO 5.3% MAR 15 2018 DTD 03/25/2008 - 10000 SHS 9,972 11,100
    EATON CORP 6.95% MAR 20 2019 DTD 3/16/2009 - 5000 SHS 5,594 5,984
    PROGRESS ENERGY INC 6.05% MAR 15 2014 DTD 03/19/2009 - 5000 SHS 4,986 5,553
    ATOMS ENERGY CORP 8 1/2% MAR 15 2019 DTD 03/26/2009 - 5000 SHS 4,991 6,259
    FHLMC REMIC SER 3150 CL EQ 5% MAY 15 2026 DTD 05/01/2006 - 25000 SHS 23,375 25,288
    TRAVELLERS COS INC SR NOTES 5.9% JUN 02 2019 DTD 06/02/2009 - 5000 SHS 5,283 5,633
    ERP OPERATING LP 5 3/4% JUN 15 2017 DTD 06/04/2007 - 5000 SHS 4,958 5,478
    CONSOLIDATED EDISON CO NY SER 2006 DEB 5 1/2% C DUE 09/15/2016-5000 SHS 5,067 5,627
    FHLMC REMIC SER 2617 CL TK 4 1/2% MAY 15 2018- 40000 SHS 38,175 43,000
    BURLINGTN NORTH SANTA FE 4.7% OCT 01 2019 DTD 09/24/2009 - 5000 SHS 4,991 5,226
    FHLMC PARTN DUE 05/01/2014 - 11309.84 SHS 11,426 12,330
    FHLMC MULTICLASS MTG SER 1548 CL 1548-Z 7.000% DUE 07/15/2023 - 11742.92 SHS 12,029 12,055
    FHLMC MULTICLASS MTG SER 2312 CL 2312-JB 6.50% DUE 05/15/2031 - 10194.8 SHS 10,596 11,181
    FHLMC PARTN CTFS GROUP NBR C9-0678 6.00% DUE 03/01/2023 - 24736.81 SHS 25,065 27,190
    FNMA GTD REMIC REMIC TR 1993-202 CL-J 6.50% DUE 11/25/2023 - 12883.16 SHS 13,119 14,800
    FNMA GTD MTG CTFS GROUP NBR 252493 5.50% DUE 06/01/2014 - 11151.08 SHS 11,051 11,996
    FNMA GTD MTG 7.00% DUE 01/01/2011 - 17.54 SHS 19 18
    FNMA GTD MTG 5.50% DUE 04/01/2033 - 5121.88 SHS 5,237 5,514
    FNMA GTD REMIC REMIC TR 2001-69 CL PG 6.00% DUE 12/25/2016 - 7229.65 SHS 7,329 7,798
    FNMA GTD REMIC TR 2002-2 CL UC 6.00% DUE 02/25/2017 - 12038.08 SHS 12,190 12,944
    FNMA GTD REMIC TR 2002-24 CL AJ 6.00% DUE 04/25/2017 - 46893.26 SHS 48,218 51,037
    FNMA GTD REMIC TR 2002-63 CL-LB 5.50% DUE 10/25/2017 - 27080.98 SHS 26,709 29,502
    FNMA GTD REMIC TR 2003-17 CL HC 5.00% DUE 03/25/2018 - 25000 SHS 24,000 26,988
    FHLMC MULTICLASS MTG SER 2505 CL B 5.50% DUE 08/15/2031 - 3821.69 SHS 3,793 3,838
    FHLMC MULTICLASS MTG SER 2579 CL GQ 4.00% DUE 01/15/2017 - 3116.65 SHS 3,014 3,143
    FHLMC MULTICLASS MTG SER 2624 CL QH 5.00% DUE 06/15/2033 - 25000 SHS 23,258 26,166
    FNMA GTD REMIC TR 2005-1 CL-GD 5.00% DUE 06/25/2030 - 25000 SHS 24,188 26,316
    FNMA GTD REMIC TR 2005-68 CL-JK 5.25% DUE 05/25/2035 - 826.81 SHS 825 826
    FHLMC MULTICLASS SER 2701 CL QE 5.50% DUE 02/15/2029 - 8164.93 SHS 8,193 8,221
    FHLMC MULTICLASS SER 2695 CL 2695-DG 4.00% DUE 10/15/2018 - 25000 SHS 23,344 26,443
    FHLMC MULTICLASS SER 2743 CL 2746-HD 4.50% DUE 08/15/2017 - 15000 SHS 14,353 15,567
    FNMA GTD REMIC TR 2005-110 CL MB 5.50% DUE 09/25/2035 - 13623.29 SHS 13,977 14,932
    FHLMC MULTICLASS MTG SER 2798 CL JL 4.50% DUE 05/15/2019 - 40000 SHS 39,463 42,950
    FHLMC MULTICLASS MTG SER 2890 CL PC 5.00% DUE 07/15/2030 - 40000 SHS 39,300 41,829
    FHLMC MULTICLASS MTG SER 2930 CL MD 5.00% DUE 07/15/2032 - 19650.91 SHS 19,061 20,297
    GNMA GTD PASS THRU CTF POOL NBR 610234 6.00% DUE 06/15/2018 - 13863.56 SHS 14,279 15,124
    GNMA GTD PASS THRU CTF POOL NBR 181931 9.00% DUE 12/15/2016 - 29019.04 SHS 29,674 32,619
    BANK OF NEW YORK MELLON NOTES 4.6% JAN 15 2020 DTD 11/16/2009 - 5000 SHS 4,990 5,246
    U S A NOTES 3 3/8% NOV 15 2019 DTD 11/16/2009 - 25000 SHS 26,854 25,522
    WESTPAC BANKING CORP NOTES 4 7/8% NOV 19 2019 DTD 11/19/2009 - 12000 SHS 11,991 12,610
    BLACKROCK INC 5% DEC 10 2019 DTD 12/10/2009 - 5000 SHS 4,975 5,221
    TOYOTA MOTOR CREDIT CORP MEDIUM TERM NOTES 3.2% JUN 17 2015 - 5000 SHS 5,009 5,165
    SHELL INTERNATIONAL FIN 3.1% JUN 28 2015 DTD 06/28/2010 - 4000 SHS 3,997 4,108
    CNA FINANCIAL CORP 5 7/8% AUG 15 2020 DTD 08/10/2010 - 2000 SHS 1,994 1,991
    AON CORP SR NOTES 3 1/2% SEP 30 2015 DTD 09/10/2010 - 2000 SHS 1,990 2,001
    COMMONWEALTH REIT 5 7/8% SEP 15 2020 DTD 09/17/2010 - 5000 SHS 4,893 4,812
    TOTAL CAPITAL SA 2.3% MAR 15 2016 DTD 09/15/2010 - 5000 SHS 5,054 4,972
    HOME DEPOT INC SR NOTES 5.40% MAR 1 2016 DTD 3/24/2006 - 10000 SHS 9,674 11,206
    FANNIE MAE NOTES 5 1/4% SEP 15 2016 DTD 8/17/2006 - 30000 SHS 30,385 34,344
    CAPITAL ONE FINANCIAL CO SUB NOTES 6.15% SEP 1 2016 - 10000 SHS 9,999 10,826
    INTUIT INC 5 3/4% MAR 15 2017 DTD 3/12/2007 - 5000 SHS 5,671 5,451
    WACHOVIA CORP SR NOTES 5.30% OCT 15 2011 DTD 10/23/2006 - 15000 SHS 14,132 15,547
    U S A NOTES 3 3/4% NOV 15 2018 DTD 11/17/2008 - 60000 SHS 61,673 63,820
    DOW CHEMICAL COMPANY 5.7% MAY 15 2018 DTD 05/06/2008 - 5000 SHS 5,519 5,409
    ANADARKO PETROLEUM CORP NOTES 8.7% MAR 15 2019 DTD 03/05/2009 - 5000 SHS 4,945 6,106
    SIMON PROPERTY GROUP LP SR NOTES 10.35% APR 01 2019- 10000 SHS 13,945 13,672
    AFLAC INC SR NOTES 8 1/2% MAY 15 2019 DTD 05/21/2009 - 5000 SHS 6,384 6,182
    VODAFONE GROUP PLC 4.15% JUN 10 2014 DTD 06/10/2009 - 10000 SHS 9,993 10,512
    BUNGE LIMITED FINANCE CO 8 1/2% JUN 15 2019 DTD 06/09/2009 - 5000 SHS 5,127 5,863
    U S A NOTES 3 5/8% AUG 15 2019 DTD 08/15/2009 - 65000 SHS 65,688 67,905
    U S A NOTES 1 3/4% APR 15 2013 DTD 04/15/2010 - 80000 SHS 82,638 81,838
    EATON VANCE MUT FDS TR FLT RT CL I - 78653.653 SHS 697,449 704,737
    JPM HIGH YIELD FD - SEL FUND 3580 6.12% - 107571.725 SHS 902,757 876,710
    DREYFUS/LAUREL FDS TR PRM EMRGN MK I - 36046.578 SHS 531,917 521,234
    JPM STR INC OPP FD FUND 3844 2.16% - 43772.945 SHS 462,939 517,834

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ANALOG DEVICES INC - 540 SHS 13,494 20,342
    ANNALY CAPITAL MANAGEMENT INC - 1560 SHS 24,756 27,955
    AON CORP - 190 SHS 7,757 8,742
    AVERY DENNISON CORP - 330 SHS 14,022 13,972
    CABLEVISION SYSTEMS CORP CL A NY - 1500 SHS 18,099 50,760
    CHUBB CORP - 300 SHS 12,340 17,892
    CLOROX CO - 260 SHS 15,917 16,453
    COLONIAL PROPERTIES TRUST S/B/I - 430 SHS 14,112 7,762
    ENTERGY CORP - 180 SHS 12,718 12,749
    GENUINE PARTS CO - 280 SHS 11,847 14,375
    GENZYME CORP GENL DIVISION - 290 SHS 19,671 20,648
    GOODRICH CORP - 280 SHS 12,239 24,660
    HASBRO INC - 390 SHS 11,257 18,400
    HEALTH CARE REIT INC - 320 SHS 15,360 15,245
    H J HEINZ CO - 340 SHS 14,645 16,816
    ALLSTATE CORP - 740 SHS 19,349 23,591
    KENNAMETAL INC - 470 SHS 12,243 18,546
    MATTEL INC - 540 SHS 12,547 13,732
    MCDERMOTT INTERNATIONAL INC - 370 SHS 6,803 7,655
    MCGRAW-HILL COMPANIES INC - 540 SHS 15,816 19,661
    NEWPARK RESOURCE INC - 1300 SHS 8,711 8,008
    OLD REPUBLIC INTERNATIONAL CORP - 3120 SHS 62,941 42,526
    OMNICOM GROUP INC - 340 SHS 14,208 15,572
    ST JUDE MEDICAL INC - 350 SHS 14,087 14,963
    SUN COMMUNITIES INC - 700 SHS 19,010 23,317
    ULTRA PETROLEUM CORP - 200 SHS 12,160 9,554
    XEROX CORP - 1968 SHS 19,750 22,671
    CONSOLIDATED EDISON INC - 330 SHS 13,441 16,358
    SEMPRA ENERGY - 210 SHS 9,557 11,021
    RANGE RESOURCES CORP - 190 SHS 13,405 8,546
    MCKESSON CORP - 190 SHS 11,689 13,372
    NISOURCE INC - 500 SHS 12,035 8,810
    HUDSON CITY BANCORP INC - 1150 SHS 14,156 14,651
    SCANA CORP - 370 SHS 12,652 15,022
    XCEL ENERGY INC - 560 SHS 11,801 13,188
    NEW YORK COMMUNITY BANCORP INC - 990 SHS 12,800 18,662
    PROGRESS ENERGY INC - 430 SHS 19,841 18,696
    ZIMMER HOLDINGS INC - 200 SHS 11,582 10,736
    GREAT PLAINS ENERGY INC - 410 SHS 7,367 7,950
    NOBLE ENERGY INC - 140 SHS 8,833 12,051
    MILLICOM INTERNATIONAL CELLULAR - 140 SHS 5,488 13,384
    DELL INC - 580 SHS 7,879 7,859
    TELEPHONE & DATA-SPECIAL SHS - 390 SHS 11,237 12,293
    UDR INC - 335 SHS 7,810 7,879
    BROADRIDGE FINANCIAL SOLUTIONS LLC - 800 SHS 17,259 17,544
    HCP, INC - 400 SHS 12,579 14,716
    SPDR GOLD TRUST - 240 SHS 15,588 33,293
    ACTIVISION BLIZZARD INC - 1150 SHS 13,017 14,306
    WEATHERFORD INTL LTD - 690 SHS 12,634 15,732
    TIME WARNER CABLE INC - 290 SHS 23,103 19,149
    HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LTD. ADR - 1860 SHS 3,025 8,277
    COVIDIEN PLC - 330 SHS 14,186 15,068
    FIRST AMERN FINL CORP COM - 930 SHS 14,001 13,894
    BABCOCK & WILCOX COMPANY W/I - 555 SHS 15,886 14,202
    ANWORTH MORTGAGE ASSET CORP - 1460 SHS 11,324 10,220
    ENDURANCE SPECIALTY HOLDINGS - 400 SHS 15,468 18,428
    CHIMERA INVESTMENT CORP - 4240 SHS 15,371 17,426
    ADOBE SYSTEMS INC - 667 SHS 21,712 20,530
    ANSYS INC - 254 SHS 7,316 13,226
    BAKER HUGHES INC - 642 SHS 29,128 36,703
    BEST BUY INC - 699 SHS 24,235 23,969
    CORNING INC - 1307 SHS 23,777 25,251
    FISERV INC - 775 SHS 36,352 45,384
    GENERAL ELECTRIC CO - 2937 SHS 44,126 53,718
    GILEAD SCIENCES INC - 1407 SHS 59,378 50,990
    HARTFORD FINANCIAL SERVICES GROUP INC - 996 SHS 21,367 26,384
    ING GROUP N V SPONS ADR - 3404 SHS 28,407 33,325
    ELI LILLY & CO - 920 SHS 41,683 32,237
    LOCKHEED MARTIN CORP - 295 SHS 22,494 20,623
    MEMC ELECTRONIC MATERIALS INC - 1867 SHS 22,688 21,022
    MICROSOFT CORP - 779 SHS 20,936 21,742
    NCR CORP - 864 SHS 10,752 13,280
    PULTE GROUP INC. - 1827 SHS 14,518 13,739
    RITE AID CORP - 2723 SHS 10,153 2,404
    THERMO FISHER SCIENTIFIC INC - 730 SHS 30,501 40,413
    TRANSATLANTIC HOLDINGS INC - 533 SHS 23,355 27,513
    LEVEL 3 COMMUNICATIONS INC - 11727 SHS 13,884 11,492
    AMDOCS LTD - 907 SHS 22,234 24,915
    VARIAN MEDICAL SYSTEMS INC - 277 SHS 10,320 19,191
    GAZPROM OAO SPONS ADR - 1103 SHS 23,331 27,575
    COMMUNITY HEALTH SYSTEMS INC - 194 SHS 5,149 7,250
    CHINA MOBILE HONG KONG LTD SPONS ADR - 454 SHS 24,304 22,527
    ON SEMICONDUCTOR CORP - 1195 SHS 10,029 11,807
    US BANCORP DEL - 1546 SHS 27,308 41,696
    MARATHON OIL CORP - 920 SHS 28,924 34,068
    UNITED STATES STEEL CORP - 641 SHS 30,887 37,447
    COMCAST CORPORATION SPL A + - 1197 SHS 22,002 24,910
    DELL INC - 3961 SHS 70,536 53,672
    GOOGLE INC CL A - 79 SHS 41,846 46,924
    MITSUBISHI UFJ FINANCIAL ADR - 5451 SHS 32,098 29,490
    DISH NETWORK CORP CL A - 966 SHS 14,457 18,992
    TRANSOCEAN INC - 577 SHS 48,931 40,107
    INPEX CORP ADR - 733 SHS 35,664 42,974
    ALERE INC - 722 SHS 27,488 26,425
    MONSANTO CO - 521 SHS 33,641 36,282
    JP MORGAN CHASE & CO - 1407 SHS 53,694 59,685
    CONOCOPHILLIPS - 508 SHS 25,025 34,595
    LIFE TIME FITNESS INC - 476 SHS 5,057 19,511
    SANDRIDGE ENERGY INC - 3131 SHS 21,609 22,919
    MATTHEWS PACIFIC TIGER FD - 52639.714 SHS 864,501 1,233,875
    ISHARES COHEN & STEERS REALTY MAJORS INDEX FUND - 8331 SHS 412,568 547,513
    FMI FDS INC LARGE CAP FD - 27665.996 SHS 275,000 431,866
    JPM MID CAP GROWTH - SEL FUND 3120 - 8423.042 SHS 166,709 193,646
    JPM EM MKTS 3 FD - SEL FUND 1235 - 15002.247 SHS 168,175 366,205
    JPM ASIA 3 FD - SEL FUND 1134 - 2633.38 SHS 57,987 99,752
    VANGUARD MSCI EMERGING MARKETS ETF - 7487 SHS 344,177 360,469
    JPM US LRGE CAP CORE PLUS FD - SEL FUND 1002 - 29937.91 SHS 600,086 618,817
    POWERSHARES DB COMMODITY INDEX TRACKING FUND - 14629 SHS 331,887 403,029
    MANNING & NAPIER FUND INC WORLD OPPORTUNITIES SERIES FUND - 71080.991 SHS 378,844 612,007
    MANNING & NAPIER FUND INC 3 SERIES - 40121.01 SHS 574,207 773,132
    IVY GLOBAL NATURAL RESOURCE-I - 11530.425 SHS 281,375 254,015
    EATON VANCE MUT FDS TR GLOBAL MACRO - I - 28901.734 SHS 300,000 296,821
    SPDR GOLD TRUST - 1348 SHS 102,569 186,995
    DEUTSCHE BK ARN SPX 9/22/11 - 50000 SHS 49,000 53,735
    DEUTSCHE BK ARN SPX 10/13/11 - 100000 SHS 98,000 110,820
    OCH-ZIFF OZOFII PRIVATE INVESTORS OFFSHORE LTD. - 7425.357 SHS 900,000 946,602
    HIGHBRIDGE DYNAMIC COMM STRG FD -SEL STRATEGY FUND - SE - 12361.879 SHS 169,103 239,450
    BLACKSTONE PARTNERS OFFSHORE FUND LTD- 1100 SHS 1,100,000 1,139,534
    DB BREN SPX 08/10/11- 150000 SHS 148,500 166,736
    GS BREN EAFE 09/08/11 - 150000 SHS 148,500 155,669
    GS BREN SPX 09/06/11 - 150000 SHS 148,500 163,080
    GS BREN SPX 09/12/11 - 150000 SHS 148,500 165,408
    HSBC BREN ASIA BASKET 09/12/11 - 150000 SHS 148,500 161,580
    DB SARN SPX 09/07/12 - 100000 SHS 98,400 105,785
    GS GOLD CPN NOTE 10/07/11 - 150000 SHS 148,500 156,450
    GS CONT BUFF EQ SPX 04/20/12- 100000 SHS 98,750 106,473
    MS BREN EAFE 10/26/11 - 100000 SHS 99,000 101,815
    DB BREN ASIA BASKET 11/2/11 - 175000 SHS 173,250 177,202

    TY 2010 OtherAssetsSchedule
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    MINERAL ASSETS 8 8 22,341


    TY 2010 OtherDecreasesSchedule
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Description Amount
    MUTUAL FUND TIMING DIFFERENCE 7,008


    TY 2010 OtherExpensesSchedule
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES ADR FEE 107 107   0
    MINERAL FEES 558 558   0
    MINERAL PRODUCTION EXPENSES - RI 173 173   0
    AD VALOREM TAXES - RI 177 177   0
    EXPENSE FROM POWERSHARES DB COMMODITY INDEX TRACKING FUND 0 2,176   0


    TY 2010 OtherIncomeSchedule2
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    MINERAL ROYALTY INCOME 8,260 8,260 8,260
    OID 3,534 3,534 3,534


    TY 2010 OtherIncreasesSchedule
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Description Amount
    RETURN OF CAPITAL ADJUSTMENT 12,150


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEE 1,691 1,691   0


    TY 2010 TaxesSchedule
    Name:
    EMY-LOU BIEDENHARN FOUNDATION TRUST
    3605201202/R56932008/305/404/503
    EIN: 23-7054824
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES WITHHELD 2,924 2,924   0
    MINERAL PRODUCTION TAXES - RI 468 468   0