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
LUCILLE AND JOHN B DOUGHERTY TRUST
% WELLS FARGO BANK NA

Number and street (or P.O. box number if mail is not delivered to street address)PO DRAWER 913   Room/suite
City or town, state, and ZIP code
BRYAN, TX77805
A Employer identification number

26-1444071
B Telephone number (see page 10 of the instructions)

(979) 776-3267
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$5,211,177J 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      
4 Dividends and interest from securities...... 154,361 95,736  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -44,575
b Gross sales price for all assets on line 6a 1,144,756
7 Capital gain net income (from Part IV, line 2)... 0
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 126,001 126,001  
12 Total. Add lines 1 through 11........ 235,787 221,737  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 67,206 50,404   16,802
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 3,218 0   3,218
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 4,468 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 74,892 50,404   20,020
25 Contributions, gifts, grants paid........ 150,000 150,000
26 Total expenses and disbursements. Add lines 24 and 25 224,892 50,404   170,020
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 10,895
b Net investment income (if negative, enter -0-) 171,333
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...............      
2 Savings and temporary cash investments.......... 254,820 344,064 344,064
3 Accounts receivable bullet742
Less: allowance for doubtful accounts bullet   362 742 742
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) 514,093 Click to see attachment462,914 486,950
b Investments—corporate stock (attach schedule)........ 1,361,571 Click to see attachment1,079,101 1,128,834
c Investments—corporate bonds (attach schedule)........ 793,917 Click to see attachment957,772 1,033,701
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 1,962,564 Click to see attachment2,054,692 2,216,886
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,887,327 4,899,285 5,211,177
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......... 4,887,327 4,899,285
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).................... 4,887,327 4,899,285
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 4,887,327 4,899,285
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 4,887,327
2 Enter amount from Part I, line 27a...................... 2 10,895
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 11,797
4 Add lines 1, 2, and 3.......................... 4 4,910,019
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 10,734
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 4,899,285
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 ACCENTURE PLC   2008-10-22 2010-06-18
b AMERICAN EXPRESS COMPANT   2006-11-16 2010-06-18
c AMEX TECHNOLOGY SELECT SPDR   2006-11-16 2010-06-18
d APOLLO GROUP INC CL A   2010-06-18 2010-12-20
e APPLE COMPUTER   2008-10-22 2010-06-18
APPLE COMPUTER   2008-10-22 2010-10-04
ARTISAN INTERNATIONAL FUND   2008-02-26 2010-01-12
ARTISAN INTERNATIONAL FUND   2008-03-26 2010-01-12
BERKSHIRE HATHAWAY   2006-11-16 2010-02-18
BERKSHIRE HATHAWAY   2006-11-16 2010-06-18
BEST BUY   2006-11-16 2010-06-18
BURLINGTON NORTHERN SANTA FE   2006-11-16 2010-02-12
CARNIVAL CORP.   2006-11-16 2010-06-18
CISCO SYSTEMS   2006-11-16 2010-06-18
DEERE & CO.   2008-02-26 2010-12-20
DEERE JOHN CAP CORP 4.125%   2008-10-24 2010-01-15
DODGE & COX INT'L STOCK FD   2006-11-16 2010-01-12
DODGE & COX INT'L STOCK FD   2008-02-26 2010-01-12
DODGE & COX INT'L STOCK FD   2006-12-28 2010-01-12
FED HOME LN BK 4.375% P 2008-10-23 2010-09-17
GENERAL ELECTRIC   2006-11-16 2010-06-18
GOLDMAN SACHS GROUP INC   2006-11-16 2010-06-18
GREGORY PORTLAND TX 5.375% P 2006-11-16 2010-08-15
HSBC FINANCE CORP 4.625% P 2008-10-27 2010-09-15
INTEL CORP   2006-11-16 2010-06-18
INTERCONTINENTAL EXCHANGE   2008-11-12 2010-06-18
JP MORGAN CHASE & CO   2006-11-16 2010-06-18
LULULEMON ATHLETICA   2008-10-22 2010-04-19
MCDONALDS CORP   2006-11-16 2010-06-18
MERIDIAN GROWTH FUND   2006-11-16 2010-01-13
MICROSOFT   2006-11-16 2010-06-18
OMNICOM GROUP   2006-11-16 2010-06-18
QUEST DIAGNOSTICS   2006-11-16 2010-06-18
SCHEIN HENRY   2006-11-16 2010-06-18
SCHLUMBERGER LTD   2008-10-22 2010-06-18
SYSCO CORP   2009-03-24 2010-03-10
T ROWE PRICE MID-CAP VALUE   2006-11-16 2010-01-12
T ROWE PRICE MID-CAP VALUE   2006-12-19 2010-01-12
TARGET   2006-11-16 2010-06-18
TEXAS WOMANS UNIV 3.50% P 2006-11-16 2010-07-01
UNITED TECHNOLOGIES   2006-11-16 2010-12-20
UNIVERSITY TEX UNIV 3.25% P 2006-11-16 2010-08-15
URBAN OUTFITTERS   2010-04-19 2010-06-18
VISA INC   2008-01-02 2010-06-18
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 7,965   6,121 1,844
b 5,015   7,139 -2,124
c 52,065   55,119 -3,054
d 12,058   15,058 -3,000
e 39,118   13,403 25,715
4,172   1,406 2,766
38,368   50,000 -11,632
56,176   71,000 -14,824
26   22 4
9,940   7,692 2,248
7,978   11,499 -3,521
28,155   25,559 2,596
6,980   9,910 -2,930
19,924   22,971 -3,047
2,969   3,189 -220
50,000   50,000 0
57,323   73,843 -16,520
37,855   50,000 -12,145
1,551   2,063 -512
50,000   51,179 -1,179
14,832   33,624 -18,792
19,958   28,138 -8,180
100,000   100,000 0
50,000   50,000 0
6,978   7,315 -337
5,010   2,821 2,189
9,976   12,205 -2,229
37,987   11,206 26,781
11,953   7,084 4,869
26,187   32,509 -6,322
22,995   25,682 -2,687
7,005   9,444 -2,439
30,780   30,986 -206
15,019   13,558 1,461
9,975   8,218 1,757
26,714   21,832 4,882
24,948   32,500 -7,552
2,641   3,179 -538
17,943   19,550 -1,607
100,000   99,594 406
4,976   4,196 780
100,000   100,000 0
4,008   4,136 -128
6,985   4,381 2,604
248     248
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       1,844
b       -2,124
c       -3,054
d       -3,000
e       25,715
      2,766
      -11,632
      -14,824
      4
      2,248
      -3,521
      2,596
      -2,930
      -3,047
      -220
      0
      -16,520
      -12,145
      -512
      -1,179
      -18,792
      -8,180
      0
      0
      -337
      2,189
      -2,229
      26,781
      4,869
      -6,322
      -2,687
      -2,439
      -206
      1,461
      1,757
      4,882
      -7,552
      -538
      -1,607
      406
      780
      0
      -128
      2,604
      248
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 -44,575
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 160,622 4,526,475 0.035485
2008 202,132 4,461,890 0.045302
2007      
2006      
2005      
2 Total of line 1, column (d) ...................... 2 0.080787
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 0.040394
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 5,028,662
5 Multiply line 4 by line 3....................... 5 203,128
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 1,713
7 Add lines 5 and 6......................... 7 204,841
8 Enter qualifying distributions from Part XII, line 4.............. 8 170,020
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 3,427
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 3,427
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 3,427
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 3,200
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 3,200
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 8
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 235
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
     
    No
    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)bulletTX
    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
     
    No
    Website addressbulletN/A
    14
    The books are in care ofbulletWELLS FARGO BANK NA Telephone no.bullet (979) 776-3267
    Located atbulletPO DRAWER 913BRYANTX ZIP+4bullet77805
    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
     
     
    .........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
    WILLIAM S THORNTON TRUSTEE
    1.00     		12,000 0 0
    3740 COPPERFIELD DR SUITE 102
    BRYAN,TX77802
    WELLS FARGO BANK NA TRUSTEE
    5.00     		55,206 0 0
    PO DRAWER 913
    BRYAN,TX77805
    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
     
    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  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    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
    4,717,136
    b
    Average of monthly cash balances.......................
    1b
    388,105
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    5,105,241
    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
    5,105,241
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    76,579
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,028,662
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    251,433
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    251,433
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    3,427
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    3,427
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    248,006
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    248,006
    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
    248,006
    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
    170,020
    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
    170,020
    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
    170,020
    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 7 248,006
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 83,263
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2010:
    a From 2005.......  
    b From 2006.......  
    c From 2007.......  
    d From 2008.......  
    e From 2009.......  
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 170,020
    a Applied to 2009, but not more than line 2a 83,263
    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..... 86,757
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2010. 0 0
    (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 ..........     		161,249
    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:
    WELLS FARGO BANK TRUST DEPARTMENT
    PO DRAWER 913
    BRYAN,TX77805
    (979) 776-3267
    bThe form in which applications should be submitted and information and materials they should include:
    ORGANIZATIONS ARE TO SUBMIT REQUESTS ON BANK TRUST DEPARTMENT'S GRANT APPLICATION
    cAny submission deadlines:
    JULY 31
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    AS PROVIDED FOR IN THE WILL, THE FOLLOWING ARE TO RECEIVE AT LEAST 10 PERCENT OF THE ANNUAL NET INCOME: FIRST UNITED METHODIST CHURCH, BRYAN, TX; METHODIST RETIREMENT SERVICES, INC, THE WOODLANDS, TX; BRAZOS VALLEY REHABILITATION CENTER, BRYAN, TX; COLLEGE OF SCIENCE, TEXAS A&M UNIVERSITY, COLLEGE STATION, TX. THE REMAINING CONTRIBUTIONS ARE RESTRICTED TO CHARITABLE ORGANIZATIONS IN THE BRAZOS COUNTY, TX AREA
    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
    BRAZOS VALLEY FOOD BANK
    1514 SHILOH AVE
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSE 10,000
    BRAZOS VALLEY REHABILITATION CENTER
    1318 MEMORIAL DRIVE
    BRYAN,TX77802     		  CHARITY FOR CHARITABLE PURPOSE 17,000
    BRYAN ISD EDUCATION FOUNDATION
    101 N TEXAS AVENUE
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSE 10,000
    FIRST UNITED METHODIST CHURCH
    506 28TH STREET
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSE 17,000
    HABITAT FOR HUMANITY BRYANCOLLEGE STATION
    119 LAKE STREET
    BRYAN,TX77801     		  CHARITY FOR CHARITABLE PURPOSE 7,000
    HEALTH FOR ALL
    1328A MEMORIAL DR
    BRYAN,TX77802     		  CHARITY FOR CHARITABLE PURPOSE 10,000
    HOSPICE OF BRAZOS VALLEY
    502 W 26TH STREET
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSE 17,000
    METHODIST RETIREMENT COMMUNITIES FBO CRESTVIEW RETIREMENT BUILDING FUND
    2202 TIMBERLOCH PLACE STE 200
    THE WOODLANDS,TX77830     		  CHARITY FOR CHARITABLE PURPOSE 17,000
    SCOTTY'S HOUSE
    2424 KENT ST
    BRYAN,TX77802     		  CHARITY FOR CHARITABLE PURPOSE 2,500
    ST JOSEPH FOUNDATION
    PO BOX 993
    BRYAN,TX77805     		  CHARITY FOR CHARITABLE PURPOSE 17,000
    STILL CREEK RANCH
    6055 HEARNE ROAD
    BRYAN,TX77802     		  CHARITY FOR CHARITABLE PURPOSE 3,000
    TEXAS A&M UNIVERSITY COLLEGE OF SCIENCE
    3257 TAMU
    COLLEGE STATION,TX77843     		  CHARITY FOR CHARITABLE PURPOSE 7,500
    VOICES FOR CHILDREN
    115 NORTH MAIN STREET
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSE 3,000
    SALVATION ARMY
    2506 CAVITT STREET
    BRYAN,TX77801     		  CHARITY FOR CHARITABLE PURPOSE 4,000
    UNITY PARTNERS DBA PROJECT UNITY
    PO BOX 2812
    BRYAN,TX77805     		  CHARITY FOR CHARITABLE PURPOSE 3,000
    BOYS AND GIRLS CLUB OF BRAZOS VALLEY
    900 W WILLIAM J BRYAN PKWY
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSE 5,000
    Total .................................bullet 3a 150,000
    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          
    4 Dividends and interest from securities....     14 154,361  
    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.....     18 126,001  
    8Gain or (loss) from sales of assets other than inventory     18 -44,575  
    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).. 0 235,787 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    13235,787
    (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:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 3,218 0   3,218

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES 5.875% 5/15/16 48,778 57,720
    ASTRAZENECA PLC 5.40% 6/1/14 47,838 55,602
    BAKER HUGHES INC 6.50% 11/15/13 50,210 56,904
    BELLSOUTH CORPORATION 6.00% 10/15/11 49,180 52,124
    BOEING CAP CORP 6.50% 2/15/12 50,943 53,068
    CISCO SYSTEMS INC 5.25% 2/22/11 49,983 50,314
    DUKE ENERGY CORP 5.30% 10/1/15 47,539 56,026
    GENERAL DYNAMICS CORP 5.375% 8/15/15 48,942 56,335
    IBM CORP 6.50% 10/15/13 51,412 56,984
    PEPSI BOTTLING GROUP INC 6.95% 3/15/14 50,752 57,941
    TARGET CORP 5.875% 3/1/12 49,810 52,651
    WALT DISNEY COMPANY 5.625% 9/15/16 46,839 57,591
    COSTCO WHOLESALE CORP 5.50% 3/15/17 53,081 56,967
    HEWLETT PACKARD 5.40% 3/1/17 52,808 55,881
    BEAR STEARNS 4.65% 7/2/18 104,586 102,698
    METLIFE INC 2.375% 2/6/14 100,834 100,475
    PRAXAIR INC 4.625% 3/30/15 54,237 54,420

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BEST BUY INC 43,655 27,466
    CARNIVAL CORP 10,611 9,775
    MCDONALDS CORP 18,186 33,698
    OMNICOM GROUP 28,023 25,007
    TARGET CORP 19,842 20,444
    CONSUMER STAPLES SECTOR SPDR TR 17,263 19,638
    CVS/CAREMARK CORPORATION 47,576 55,980
    PEPSICO INC 40,463 42,791
    PROCTER & GAMBLE CO 22,192 22,516
    CHEVRON CORP 27,298 35,588
    CONOCOPHILLIPS 16,480 17,706
    EXXON MOBIL CORPORATION 26,564 26,323
    PEABODY ENERGY CORPORATION 12,497 25,144
    SCHLUMBERGER LTD 15,991 26,971
    AFLAC INC 12,813 11,286
    AMERICAN EXPRESS CO 24,393 17,597
    BANK OF AMERICA CORP 38,353 9,338
    GOLDMAN SACHS GROUP INC 34,390 29,596
    INTERCONTINENTAL EXCHANGE INC 6,949 12,034
    JP MORGAN CHASE & CO 28,319 25,197
    STATE STREET CORP 16,659 9,268
    VISA INC-CLASS A SHRS 14,057 20,551
    ABBOTT LABS 24,651 24,913
    JOHNSON & JOHNSON 27,483 25,668
    SCHEIN HENRY INC 23,511 28,424
    THERMO FISHER SCIENTIFIC INC 17,379 16,608
    AMEX INDUSTRIAL SPDR 47,770 47,075
    DEERE & CO 10,097 9,468
    UNITED TECHNOLOGIES 21,115 24,954
    APPLE INC 12,372 42,578
    CISCO SYSTEMS INC 40,538 30,345
    HEWLETT PACKARD CO 8,649 10,567
    INTEL CORP 31,685 29,968
    MICROSOFT CORP 26,182 24,868
    MONSANTO CO NEW 6,327 5,780
    PRAXAIR INC COM 12,438 14,321
    ISHARES DJ US TELECOMMUNICATION 46,191 38,327
    PUBLIC SVC ENTERPRISE GROUP INC 16,470 15,905
    APACHE CORP 26,322 32,192
    CELGENE CORP 7,988 8,457
    TEVA PHARMACEUTICAL IND 14,219 14,336
    COOPER INDUSTRIES 6,477 12,474
    ECOLAB 5,296 7,815
    URBAN OUTFITTERS 15,792 15,040
    BERKSHIRE HATHAWAY 17,845 23,232
    UNITEDHEALTH GROUP 10,004 11,519
    UNION PACIFIC CORP 20,046 24,370
    3M CO 8,029 7,940
    ORACLE CORPORATION 17,091 23,099
    NEXTERA ENERGY 18,550 18,197
    BHP BILLITON LIMITED 8,015 8,363
    NESTLE S.A. 7,993 8,117
    FIRST CITY BANCORP 2 0

    TY 2010 InvestmentsGovtObligationsSch
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    US Government Securities - End of Year Book Value:

    462,914
    US Government Securities - End of Year Fair Market Value:

    486,950
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2010 InvestmentsOtherSchedule2
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ARKANSAS ST 4.00% 7/1/13 AT COST 200,904 214,880
    ELKHART IND CMNTY SCHS BLDG CORP 4.00% 8/20/11 AT COST 50,101 51,135
    JAY SCHS BLDG CORP IND 4.00% 7/15/16 AT COST 100,915 109,136
    KANSAS CITY MO SPL OBLIG REF & IMPT 4.00% 3/1/14 AT COST 202,668 214,914
    NEW BRAUNFELS TEX CTFS OBLIG 4.25% 3/1/14 AT COST 201,112 217,028
    PIERCE CNTY WASH 4.00% 12/1/16 AT COST 100,814 109,034
    TOOELE CNTY UTAH SCH DIST SCH BDLG 4.00% 6/1/13 AT COST 200,591 214,206
    TYLER TEX JR COLLEGE DIST REV 4.00% 8/15/11 AT COST 100,211 102,107
    ISHARES TR SMALL CAP 600 INDEX FD AT COST 72,380 90,243
    IPATHC DOW JONES-UBS COMMODITY AT COST 71,795 85,420
    BRAZOS COUNTY, TX MINERALS AT COST 1 1
    GRIMES COUNTY, TX MINERALS AT COST 1 1
    SPDR S&P MIDCAP 400 ETF TRUST AT COST 149,390 187,900
    ISHARES MSCI EAFE AT COST 193,022 197,016
    DIAMOND HILL LONG-SHORT FD AT COST 95,700 103,068
    GATEWAY FUND AT COST 95,000 101,353
    HUSSSMAN STRATEGIC GROWTH FUND AT COST 100,000 92,314
    SPDR DJ WILSHIRE INTERNATIONAL REAL AT COST 40,050 43,134
    VANGUARD REIT VIPER AT COST 80,037 83,996

    TY 2010 OtherDecreasesSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Description Amount
    2009 FIT PAYMENT 3,190
    BANK PREMIUM AMORTIZATION 3,495
    FORM 990-PF ES PAYMENTS 3,200
    ACCRUED INTEREST CARRIED OVER TO 2011 849


    TY 2010 OtherIncomeSchedule2
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    NET ROYALTIES - ROSEWOOD RESOURCES 3,187 3,187 3,187
    NET ROYALTIES - APACHE CORP. 27,958 27,958 27,958
    NET ROYALTIES - ENERVEST OPERATING 71,978 71,978 71,978
    NET ROYALTIES - CRAWFORD HUGHES 17,525 17,525 17,525
    NET ROYALTIES - DCP MIDSTREAM 137 137 137
    NET ROYALTIES - OGDEN RESOURCES 70 70 70
    PROCEEDS FROM SALE OF LOT 5,146 5,146 5,146


    TY 2010 OtherIncreasesSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Description Amount
    ASSETS TRANSFERRED IN 2
    PREMIUM AMORTIZATION 5,355
    BANK MARKET DISCOUNT 6,440


    TY 2010 TaxesSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROPERTY TAXES 4,468 0   0