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
THE GLADYS AND FRANKLIN CLARK FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)809 RICHMOND ROAD   Room/suite
City or town, state, and ZIP code
WILLIAMSBURG, VA23185
A Employer identification number

54-1640751
B Telephone number (see page 10 of the instructions)

(757) 229-3063
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$6,854,468J 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...... 147,101 147,101  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 190,061
b Gross sales price for all assets on line 6a 1,395,520
7 Capital gain net income (from Part IV, line 2)... 190,061
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 35,539 35,539  
12 Total. Add lines 1 through 11........ 372,701 372,701  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 34,000 11,333   22,667
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 250 125   125
b Accounting fees (attach schedule)....... Click to see attachment 9,000 4,500   4,500
c Other professional fees (attach schedule).... Click to see attachment 58,023 58,023   0
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 2,539 1,948   12
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 44,108 43,220   888
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 147,920 119,149   28,192
25 Contributions, gifts, grants paid........ 400,000 400,000
26 Total expenses and disbursements. Add lines 24 and 25 547,920 119,149   428,192
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -175,219
b Net investment income (if negative, enter -0-) 253,552
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.......... 75,009 150,374 150,374
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)........ 4,734,146 Click to see attachment4,591,249 5,352,741
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 1,483,833 Click to see attachment1,369,286 1,351,353
14 Land, buildings, and equipment: basis bullet8,257
Less: accumulated depreciation (attach schedule) bullet8,257      
15 Other assets (describe bullet) Click to see attachment179 Click to see attachment0 Click to see attachment0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 6,293,167 6,110,909 6,854,468
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......... 6,293,167 6,110,909
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).................... 6,293,167 6,110,909
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 6,293,167 6,110,909
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 6,293,167
2 Enter amount from Part I, line 27a...................... 2 -175,219
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 993
4 Add lines 1, 2, and 3.......................... 4 6,118,941
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 8,032
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 6,110,909
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 FIRST CLEARING LLC #2      
b FIRST CLEARING LLC #2      
c FIRST CLEARING LLC #3      
d FIRST CLEARING LLC #3      
e FIRST CLEARING LLC #4      
FIRST CLEARING LLC #4      
FIRST CLEARING LLC #5      
FIRST CLEARING LLC #5      
FROM K-1 #52-2223148 P    
FROM K-1 #94-6260018 P    
FROM K-1 #52-2223148 P    
FROM K-1 #52-2223148 P    
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 67,505   63,173 4,332
b 125,807   110,004 15,803
c 210,000   187,489 22,511
d 531,845   491,152 40,693
e 7,768   8,603 -835
152,120   147,596 4,524
14,948   13,757 1,191
211,279   182,784 28,495
22,796     22,796
    901 -901
30,292     30,292
67     67
21,093     21,093
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       4,332
b       15,803
c       22,511
d       40,693
e       -835
      4,524
      1,191
      28,495
      22,796
      -901
      30,292
      67
      21,093
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 2 190,061
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 514,807 6,089,841 0.084535
2008 358,400 7,352,253 0.048747
2007 364,898 8,603,462 0.042413
2006 530,433 8,132,766 0.065222
2005 425,529 7,885,859 0.053961
2 Total of line 1, column (d) ...................... 2 0.294878
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 0.058976
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 6,628,077
5 Multiply line 4 by line 3....................... 5 390,897
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,536
7 Add lines 5 and 6......................... 7 393,433
8 Enter qualifying distributions from Part XII, line 4.............. 8 428,192
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 2,536
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 2,536
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 2,536
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 579
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 3,200
d Backup withholding erroneously withheld ........... 6d 8
7 Total credits and payments. Add lines 6a through 6d.............. 7 3,787
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,251
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet1,251 Refunded Bullet 11 0
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
Yes
 
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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)bulletVA
    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 ofbulletGILBERT BARTLETT PRESIDENT Telephone no.bullet (757) 229-1910
    Located atbullet809 RICHMOND ROADWILLIAMSBURGVA ZIP+4bullet23185
    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
    GILBERT A BARTLETT PRESIDENT/DIRECTOR
    3.75     		12,000 0 0
    809 RICHMOND ROAD
    WILLIAMSBURG,VA23185
    JOSEPH W MONTGOMERY TREASURER/DIRECTOR
    3.75     		12,000 0 0
    809 RICHMOND ROAD
    WILLIAMSBURG,VA23185
    L ALVIN GARRISON SECERTARY/DIRECTOR
    3.75     		10,000 0 0
    809 RICHMOND ROAD
    WILLIAMSBURG,VA23185
    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 THE GLADYS AND FRANKLIN CLARK FOUNDATION MAKES GRANTS TO QUALIFYING CHARITABLE ORGANIZATIONS AND DOES NOT CARRY ON CHARITABLE ACTIVITIES DIRECTLY 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  
    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
    6,554,631
    b
    Average of monthly cash balances.......................
    1b
    174,381
    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
    6,729,012
    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
    6,729,012
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    100,935
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    6,628,077
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    331,404
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    331,404
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    2,536
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,536
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    328,868
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    328,868
    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
    328,868
    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
    428,192
    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
    428,192
    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
    2,536
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    425,656
    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 7 328,868
    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....... 13,870
    b From 2006....... 133,449
    c From 2007.......  
    d From 2008....... 627
    e From 2009....... 211,389
    fTotal of lines 3a through e......... 359,335
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 428,192
    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..... 328,868
    e Remaining amount distributed out of corpus 99,324
    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 5 458,659
    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 ..........     		0
    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) .............     		13,870
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		444,789
    10 Analysis of line 9:
    a Excess from 2006.... 133,449
    b Excess from 2007....  
    c Excess from 2008.... 627
    d Excess from 2009.... 211,389
    e Excess from 2010.... 99,324
    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
    COLONIAL WILLIAMSBURG FOUNDATION
    PO BOX 1776
    WILLIAMSBURG,VA23187     		NONE PUBLIC CHARITABLE 100,000
    JAMESTOWN YORKTOWN FOUNDATION INC
    PO BOX 1607
    WILLIAMSBURG,VA23187     		NONE PUBLIC CHARITABLE 100,000
    WILLIAM & MARY LAW SCHOOL
    PO BOX 8795
    WILLIAMSBURG,VA23187     		NONE PUBLIC CHARITABLE 200,000
    Total .................................bullet 3a 400,000
    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....     14 147,101  
    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 35,539  
    8Gain or (loss) from sales of assets other than inventory     18 190,061  
    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).. 0 372,701 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    13372,701
    (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:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    WITT MARES 9,000 4,500   4,500

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Name of Stock End of Year Book Value End of Year Fair Market Value
    EATON VANCE EMERGING MKT LOCAL INCOME FUND 131,257 125,827
    RS INVT TR EMERGING MKT FUND 206,463 298,383
    PIMCO PAC INVT MGMT SER EMERGING MKTS BOND FUND 130,913 126,264
    TEMPLETON DEVELOPING MKTS TR 287,515 311,730
    AAR CORP 7,898 7,582
    AARONS INC 4,905 5,668
    ACME PACKET INC 1,479 1,488
    ACORDA THERAPEUTICS INC 817 600
    ACTUANT CORP 2,279 3,301
    AECOM TECHNOLOGY CORP 2,229 2,182
    AEROFLEX HOLDING CORP 1,449 1,563
    AMEDISYS INC. 5,620 4,791
    AMERICAN PUBLIC EDUCATION INC 1,865 1,936
    AMERIGROUP CORP 7,452 10,716
    ANCESTRY.COM INC 2,093 2,039
    ANN TAYLOR STORES 2,166 3,451
    APPLIED MICRO CIRCUITS CORP 2,232 2,221
    ARRIS GROUP INC. 5,065 6,339
    ARTHROCARE CORP 1,320 1,491
    ARUBA NETWORKS INC 1,050 2,318
    ASTORIA FINACIAL CORP 6,500 6,148
    ATHEROS COMMUNICATIONS 2,121 3,233
    ALUXILIUM PHARMACEUTICALS 2,396 2,026
    BARNES GROUP INC 2,211 2,315
    BRISTOW GROUP INC 4,522 6,487
    BROADSOFT INC 1,659 1,695
    BRUKER CORPORATION 1,836 2,639
    BUCYRUS INTERNATIONAL 7,399 17,701
    CABOT OIL & GAS 4,047 9,198
    CADENCE DESIGN SYSTEMS INC 2,685 2,998
    CAL DIVE INTERNATIONAL INC 1,404 1,128
    CANTEL MEDICAL CORP 1,824 2,574
    CARTER HOLDINGS INC 1,567 1,505
    CASH AMERICA INTERNATIONAL INC. 4,742 4,838
    CATALYST HEALTH SOLUTION 2,902 3,487
    CHECKPOINT SYSTEMS 3,230 3,946
    CHEESECAKE FACTORY INC 1,518 2,269
    CHILDRENS PLACE RETAIL STORES 2,014 2,929
    CIENA CORP 2,090 2,063
    CLARCOR, INC. 1,593 1,973
    CLEAN HARBORS INC 2,440 3,027
    CONCUR TECHNOLOGIES, INC. 2,013 2,752
    CORE LABORATORIES INC 4,910 11,933
    COVANCE INC. 4,076 5,295
    CUBIST PHARMACEUTICALS 1,469 1,434
    DANA HOLDING CORP 2,188 4,044
    DELPHI FINANCIAL CORP 4,523 6,258
    DIAMOND FOODS INC 1,579 2,074
    DIGITAL RIVER INC. 6,365 6,127
    DRIL-QUIP INC. 1,092 1,477
    EATON VANCE CORP 5,279 6,197
    ESTERLINE TECHNOLOGIES 2,772 3,498
    FINISAR CORP 1,379 3,919
    FIRST POTOMAC REALTY 2,242 3,297
    FLIR SYSTEMS INC. 5,256 10,145
    FRESH MARKET INC 1,317 1,277
    FXCM INC 1,334 1,179
    GAMMON GOLD INC 2,039 1,720
    GAYLORD ENTERTAINMENT 2,544 3,378
    GENESEE & WYOMING INC 1,934 3,442
    GENTIVA HEALTH SERVICES 1,379 2,022
    GEO GROUP, INC. 3,670 3,280
    GLOBAL PAYMENTS, INC. 4,197 8,179
    GRAFTECH INTERNATIONAL 2,397 3,135
    GREENHILL & CO 2,816 3,349
    GSI COMMERCE INC. 1,481 2,695
    HARSCO CORPORATION 4,056 4,220
    HEALTHWAYS, INC. 6,039 2,187
    HEXCEL CORP 6,294 6,277
    ICF INTERNATIONAL INC 2,060 2,160
    IGATE CORP 1,232 1,222
    INSULET CORP 1,349 2,325
    INTERMUNE INC 1,480 1,456
    INTERVAL LEISURE GROUP 2,133 2,615
    INVESTORS BANCORP INC 1,612 1,601
    ITC HOLDING CORP 2,516 3,099
    ITRON INC. 5,384 6,044
    JEFFRIES GROUP 4,538 6,258
    KODIAK OIL & GAS CORP 1,633 2,911
    KRATON PERFORMANCE POLYMERS INC 1,831 2,012
    LIFE TIME FITNESS INC. 8,049 11,682
    LIFEPOINT HOSPITALS INC 2,133 2,609
    LKQ CORP 2,432 3,135
    LOGMEIN INC 1,604 3,104
    LOUISIANA PACIFIC CORP 1,508 2,024
    LUFKIN INDS INC 6,770 9,670
    MAKO SURGICAL CORP 1,091 1,826
    MCCORMICK & SCHMICK'S SEAFOOD RESTAURANT 1,236 1,364
    MEDASSETS INC 2,494 2,241
    MEDICAL PROPERTIES TRUST 4,708 6,520
    MEDICIS PHARMACEUTICAL CORP 1,781 2,679
    MEDIDATA SOLUTIONS INC 2,510 3,534
    MEDNAX INC 6,942 8,344
    MELLANOX TECHONOLGY LTD 681 2,381
    MERITAGE HOMES CORP 5,229 2,398
    MONOLITHIC POWER SYSTEMS 1,629 1,916
    MOOG INC. 3,947 5,373
    NETLOGIC MICROSYSTEMS 1,802 2,513
    NICE SYSTEMS LTD 3,036 3,211
    NOVELLUS SYSTEM INC 2,620 3,749
    ONEOK INC. 3,354 6,545
    OPENTABLE INC 1,462 3,454
    OPTIMER PHARMACEUTICALS 1,685 2,126
    PAREXEL INTL CORP 1,542 2,611
    PATRIOT COAL CORP 1,630 2,731
    PHARMACEUTICAL PRODUCT DEVELOPMENT, INC. 4,969 6,894
    PHILLIPS-VAN HEUSEN CORP 6,992 9,641
    PLATINUM UNDERWRITERS HOLDINGS 1,161 1,484
    PROTECTIVE LIFE CORP 5,129 7,859
    QLIK TECHNOLOGIES INC 2,096 2,716
    QUICKSILVER RESOURCES INC 1,084 1,106
    RAYMOND JAMES FINANCIAL 6,175 8,208
    RBC BEARINGS CORP 3,068 3,869
    REALPAGE INC 1,982 2,134
    REINSURANCE GROUP OF AMERICA 3,680 7,090
    RESOURCES CONNECTION INC 2,078 2,287
    RIVERBED TECHNOLOGY INC 1,560 3,200
    ROCKWOOD HOLDINGS INC 2,542 3,756
    ROSETTA RESOURCES INC 1,072 1,920
    SAVIENT PHARMACEUTICALS INC 1,636 1,259
    SBA COMMUNICATIONS CORP 2,870 5,118
    SCOTTS MIRACLE GRO 5,251 6,600
    SIGNATURE BANK NEW YORK 1,845 2,403
    SILGAN HOLDINGS, INC. 1,954 2,578
    SIRONA DENTAL SYSTEMS 1,029 1,504
    SHUTTERFLY INC 2,059 3,698
    SM ENERGY CO 1,340 1,591
    SNAP-ON INC. 3,749 6,111
    SOLERA HOLDINGS, INC. 1,967 3,541
    SOLUTIA INC 1,748 1,916
    SONIC CORP 1,664 1,862
    SOTHEBY'S 2,004 2,835
    SOUTH JERSEY IND INC 5,937 7,817
    SRA INTERNATIONAL 6,338 5,297
    STATE AUTO FINANCIAL CORP 5,128 2,839
    STILLWATER MINING CO 1,418 1,516
    STR HOLDINGS INC 1,914 1,760
    SWIFT ENERGY CO 4,391 6,695
    TALEO CORP 1,310 2,378
    TELEDYNE TECHNOLOGIES 5,015 5,101
    TETRA TECH INC 2,172 2,280
    THE HAIN CELESTRIAL GROUP 1,349 1,948
    THORATEC CORPORATION 1,779 1,982
    TIMKEN COMPANY 5,436 9,069
    TORO COMPANY 5,194 8,136
    TOWERS WATSON & CO 2,598 2,863
    TRUSTMARK CORP 3,527 4,695
    TUPPERWARE CORP 2,006 2,908
    ULTA SALON COSMETICS & FRAGRANCE INC 2,569 3,366
    ULTIMATE SOFTWARE GROUP INC 2,362 3,064
    UNITED BANKSHARES INC. 5,366 5,373
    UNITED FIRE & CASUALTY 4,038 3,482
    UNITED NATURAL FOODS INC 2,188 2,237
    URS CORP 6,583 5,243
    VALASSIS COMMUNICATIONS INC 2,703 2,523
    VALSPAR CORP 5,569 7,379
    VANCEINFO 1,270 2,211
    VISTAPRINT LTD 2,043 2,484
    VITAMIN SHOPPE INC 1,831 2,018
    WARNACO GROUP INC 2,081 2,148
    WASTE CONNECTIONS INC. 2,790 3,661
    WGL HOLDINGS INC. 5,552 6,689
    WILLIAMS SONOMA INC 2,216 3,355
    WOODWARD GOVERNOR CO 2,186 3,906
    WRIGHT EXPRESS CORP 2,563 3,174
    WRIGHT MEDICAL GROUP INC 1,496 1,460
    BLAIR WILLIAM FUNDS 222,164 262,152
    COHEN & STEERS REALTY SHARES INC. 74,034 124,394
    DODGE & COX INTL STK FUND 246,675 274,864
    EATON VANCE GLOBAL MARCO ABSOLUTE RETURN FUND 130,926 130,042
    JANUS INVT FD MID CAP VALUE FD 238,442 250,785
    JP MORGAN CORE BOND FUND 520,240 533,317
    PIMCO PAC INVT MGMT TOTAL RETURN 593,438 620,616
    PRINCIPAL INVST FUNDS HIGH YIELD FD 129,078 132,938
    T ROWE PRICE MID CAP GROWTH FUND 220,993 265,195
    ABBOTT LABORATORIES 11,750 12,648
    AIR PRODUCTS & CHEMICALS INC 2,139 2,274
    ALTRIA GROUP INC. 8,783 14,698
    AMERICAN EXPRESS COMPANY 2,811 2,920
    APPLE INC. 10,447 29,998
    AUTOMATIC DATA PROCESSING 6,533 7,544
    BECTON & DICKINSON 3,627 4,480
    CATEPILLAR INC. 7,638 11,988
    CHEVRON CORPORATION 13,100 21,170
    CISCO SYSTEMS INC. 5,253 4,511
    COCA-COLA COMPANY 22,214 27,163
    CONOCOPHILLIPS 14,203 22,473
    DISNEY WALT CO 4,524 5,026
    EXXON MOBIL CORP 22,042 35,463
    FOMENTO ECONOMICO MEXICANO 4,871 6,207
    FRANKLIN RESOURCES INC. 5,487 6,228
    FREEPORT MCMORAN COPPER 6,171 9,127
    GENERAL ELECTRIC COMPANY 17,200 9,822
    GENERAL DYNAMICS CORP 9,637 7,451
    HALLIBURTON COMPANY 6,701 7,758
    HSBC HOLDINGS PLC 10,809 6,686
    INTEL CORP 14,015 11,167
    INTERNATIONAL BUSINESS MACHINE CORP 12,297 13,795
    INTUITIVE SURGICAL INC. 1,473 3,866
    JOHNSON & JOHNSON 20,242 22,452
    JP MORGAN CHASE & CO 9,808 12,514
    KRAFT FOODS INC 6,239 6,176
    LAUDER ESTEE COS INC. 4,268 9,765
    MCDONALDS CORP 15,181 21,877
    MCGRAW-HILL COMPANIES 5,217 6,044
    MEDTRONIC INC. 5,316 4,043
    MERCK & CO, INC. 11,611 9,551
    MICROCHIP TECHNOLOGIES INC. 3,537 3,387
    MICROSOFT CORP 12,189 13,034
    NESTLE S A REG 11,348 22,058
    NEWS CORP INC. 8,362 8,736
    NOVO NORDISK 7,590 12,608
    OCCIDENTAL PETE CORP 7,558 14,323
    PEPSICO INCORPORATED 11,867 15,157
    PHILIP MORRIS INTERNATIONAL INC. 20,393 34,825
    PRAXAIR INC. 6,906 10,406
    PROCTOR & GAMBLE CO. 13,435 17,691
    PRUDENTIAL FINANCIAL INC. 6,478 4,168
    QUALCOMM INC. 6,453 7,473
    RIO TINTO PLC 6,226 6,951
    ROCHE HOLDINGS LTD 8,566 7,073
    ROYAL DUTCH SHELL PLC 11,486 15,693
    SCHLUMBERGER LTD 6,755 5,762
    SYSCO CORPORATION 6,290 5,263
    TARGET CORP 6,909 10,342
    TEXAS INSTRUMENTS 10,789 10,758
    TOTAL SA SPONS 12,140 12,033
    UNITED TECHNOLOGIES CORP 11,121 12,438
    WAL-MART STORES INC. 10,074 10,786
    WALGREEN COMPANY 15,263 15,974
    AGILENT TECH 8,600 13,506
    AMERICAN EXPRESS COMPANY 28,831 33,306
    AMERIPRISE FINANCIAL 4,825 8,115
    BANK NEW YORK MELLON CORP 25,419 22,076
    BAXTER INTERNATIONAL INC 4,491 5,113
    BECTON & DICKINSON 6,053 7,607
    BED BATH & BEYOND INC. 9,341 13,516
    BERKSHIRE HATHAWAY INC. 18,240 24,434
    CANADIAN NATURAL RESOURCES LTD 17,753 23,098
    COCA-COLA COMPANY 7,952 9,866
    COSTCO WHSL COPR 23,203 39,643
    CVS CAREMARK CORP 26,968 29,972
    DEVON ENERGY CORP 10,110 23,082
    DIAGEO PLC 8,365 11,744
    EOG RESOURCES INC. 8,187 26,966
    EXPRESS SCRIPTS INC. 11,299 14,053
    GOOGLE INC. 5,115 8,316
    GRUPO TELEVISTA 3,534 6,716
    HARLEY DAVIDSON INC. 16,080 12,863
    HEWLETT-PACKARD COMPANY 6,643 7,957
    IRON MTN INC PA 10,847 13,230
    JOHNSON & JOHNSON 18,417 19,297
    LOCKHEED MARTIN CORP 5,342 5,313
    LOEWS CORPORATION 11,544 23,618
    MERCK & CO, INC. 15,239 23,102
    MICROSOFT CORP 6,534 6,531
    MONSANTO CO 9,630 10,098
    MOODY'S CORP 4,416 3,848
    OCCIDENTAL PETE CORP 9,343 39,044
    PFIZER INC 13,964 14,673
    PHILIP MORRIS 4,299 8,955
    PROCTER & GAMBLE CO 8,119 9,457
    PROGRESSIVE CORP 20,602 19,731
    SEALED AIR CORP 16,605 16,695
    TEXAS INSTRUMENTS INC. 9,746 13,585
    TRANSATLANTIC HOLDINGS 10,855 8,362
    TRANSOCEAN LTD 7,150 6,256
    TYCO INTERNATIONAL LTD 2,951 2,569
    WELLS FARGO COMPANY 20,633 35,762

    TY 2010 InvestmentsOtherSchedule2
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CAMPBELL FUND TRUST AT COST 0 0
    GRAHAM ALTERNATIVE INVESTMENT FUND AT COST 444,325 442,431
    EVERGREEN MULTI STRATEGY ACCREDITED FUND AT COST 924,961 908,922

    TY 2010 LegalFeesSchedule
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PHILLIPS & BARTLETT 250 125   125


    TY 2010 OtherAssetsSchedule
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PREPAID TAXES 179 0 0


    TY 2010 OtherDecreasesSchedule
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Description Amount
    UNREALIZED LOSS MULTI STRATEGY 6,614
    UNREALIZED LOSS ON GRAHM ALTERNATIVE INVESMENT FUND 1,309
    NONDEDUCTIBLE ITEMS MULTI STRATEGY 109


    TY 2010 OtherExpensesSchedule
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MEMBERSHIPS 495 247   248
    INSURANCE 1,250 625   625
    CAMPBELL FUND TRUST K-1 BUSINESS EXP 4,225 4,225   0
    MULTI-STRATEGY K-1 38,108 38,108   0
    STATIONARY/POSTAGE 30 15   15


    TY 2010 OtherIncomeSchedule2
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    GRAHAM ALTERNATIVE INVESTMENTS FUND II, LLC 5,042 5,042 5,042
    THE CAMPBELL FUND TRUST 1,969 1,969 1,969
    ASGI MULTI-STRATEGY 26,572 26,572 26,572
    INVESTMENT STATEMENTS 1,956 1,956 1,956


    TY 2010 OtherIncreasesSchedule
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Description Amount
    UNREALIZED GAIN ON CAMPBELL FUND TRUST 993


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MENTOR INVESTMENT ADVISORY FEES 58,023 58,023   0


    TY 2010 TaxesSchedule
    Name:
    THE GLADYS AND FRANKLIN CLARK FOUNDATION
    EIN: 54-1640751
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAXES AND LICENSES 25 13   12
    FOREIGN TAXES PAID 1,935 1,935   0
    2010 EXCISE TAX 579 0   0