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 SPIRIT OF GHEEL INC
 

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 610   Room/suite
City or town, state, and ZIP code
KIMBERTON, PA19442
A Employer identification number

22-2505189
B Telephone number (see page 10 of the instructions)

(610) 495-7871
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$568,569J 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) 47,745
2 Check bullet
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 355 355 355
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment -4,799
b Gross sales price for all assets on line 6a 50
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain......... 0
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 1,075,938 0 1,075,938
12 Total. Add lines 1 through 11........ 1,119,239 355 1,076,293
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 92,078 0 43,737 48,341
14 Other employee salaries and wages...... 548,438 0 523,742 24,696
15 Pension plans, employee benefits....... 86,003 0 77,346 8,657
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 19,713 0 6,512 13,201
c Other professional fees (attach schedule).... Click to see attachment 7,150 0 7,150 0
17 Interest............... 8,856 0 8,847 9
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 48,725 0 43,322 5,403
19 Depreciation (attach schedule) and depletion... Click to see attachment 35,304 0 35,304
20 Occupancy.............. 74,963 0 74,963 0
21 Travel, conferences, and meetings....... 4,684 0 3,542 1,142
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 214,202 0 183,419 30,783
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,140,116 0 1,007,884 132,232
25 Contributions, gifts, grants paid........ 2,100 2,100
26 Total expenses and disbursements. Add lines 24 and 25 1,142,216 0 1,007,884 134,332
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -22,977
b Net investment income (if negative, enter -0-) 355
c Adjusted net income (if negative, enter -0-)... 68,409
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.......... 136,392 125,721 125,721
3 Accounts receivable bullet49,865
Less: allowance for doubtful accounts bullet   71,759 49,865 49,865
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........... 19,675 11,232 11,232
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........      
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)...........      
14 Land, buildings, and equipment: basis bullet753,352
Less: accumulated depreciation (attach schedule) bullet372,929 333,845 Click to see attachment380,423 380,423
15 Other assets (describe bullet) Click to see attachment2,446 Click to see attachment1,328 Click to see attachment1,328
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 564,117 568,569 568,569
Liabilities 17 Accounts payable and accrued expenses.......... 55,257 63,797
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 149,994 Click to see attachment158,710
22 Other liabilities (describe bullet) Click to see attachment61,269 Click to see attachment71,442
23 Total liabilities (add lines 17 through 22).......... 266,520 293,949
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................... 295,097 254,620
25 Temporarily restricted................ 2,500 20,000
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 297,597 274,620
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 564,117 568,569
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)............... 1 297,597
2 Enter amount from Part I, line 27a...................... 2 -22,977
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 274,620
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 274,620
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.)
1a
b
c
d
e
(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
b
c
d
e
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
b
c
d
e
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  
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 163,493 90,830 1.799989
2008 67,158 66,236 1.013920
2007 83,125 49,523 1.678513
2006 65,016 84,457 0.769812
2005 62,752 82,734 0.758479
2 Total of line 1, column (d) ...................... 2 6.020713
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 1.204143
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 116,535
5 Multiply line 4 by line 3....................... 5 140,325
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 4
7 Add lines 5 and 6......................... 7 140,329
8 Enter qualifying distributions from Part XII, line 4.............. 8 134,332
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 7
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 7
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 7
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 2
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 2
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 5
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet   Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?.............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletPA
    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
    Yes
     
    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 addressbulletWWW.SPIRITOFGHEEL.ORG
    14
    The books are in care ofbulletMANAGEMENT Telephone no.bullet (610) 495-7871
    Located atbulletPO BOX 610KIMBERTONPA ZIP+4bullet19442
    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
    DR JOYCE GRIGSON BOARD MEMBER
    1.00     		0 0 0
    PO BOX 610
    KIMBERTON,PA19442
    MARGE RIDALL VICE-PRESIDENT & SECRETARY
    1.00     		0 0 0
    PO BOX 610
    KIMBERTON,PA19442
    DR ERIC EMERY EXECUTIVE DIRECTOR
    40.00     		92,078 8,990 0
    PO BOX 610
    KIMBERTON,PA19442
    EVAN FOSTER PRESIDENT
    1.00     		0 0 0
    PO BOX 610
    KIMBERTON,PA19442
    TORRANCE PITCAIRN BOARD MEMBER
    1.00     		0 0 0
    PO BOX 610
    KIMBERTON,PA19442
    SHERMAN T BREWER JR BOARD MEMBER
    1.00     		0 0 0
    PO BOX 610
    KIMBERTON,PA19442
    KATHLEEN DEETS PRICE BOARD MEMBER
    1.00     		0 0 0
    PO BOX 610
    KIMBERTON,PA19442
    STEPHEN W PRICE BOARD MEMBER
    1.00     		0 0 0
    PO BOX 610
    KIMBERTON,PA19442
    DAVID WILLIAMS BOARD MEMBER
    1.00     		0 0 0
    PO BOX 610
    KIMBERTON,PA19442
    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
    VANESSA PEREZ PROGRAM DIRECTOR
    40.00     		49,080 6,665 0
    PO BOX 610
    KIMBERTON,PA19442
    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 FOSTER THE PERSONAL AND SPIRITUAL GROWTH OF PERSONS WHO HAVE SPECIAL MENTAL AND EMOTIONAL NEEDS 1,142,216
    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
    0
    b
    Average of monthly cash balances.......................
    1b
    118,310
    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
    118,310
    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
    118,310
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    1,775
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    116,535
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    5,827
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
     
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4.............................
    5
     
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1.................................
    7
     
    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
    134,332
    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
    134,332
    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
    134,332
    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  
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only.......  
    b Total for prior years:20, 20, 20  
    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.........  
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$  
    a Applied to 2009, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		  
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		 
    d Applied to 2010 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2010.    
    (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  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		 
    e Undistributed income for 2009. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    f Undistributed income for 2010. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		 
    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) ...........     		 
    8Excess distributions carryover from 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		 
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		 
    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
    5,827 4,542 3,312 2,476 16,157
    b 85% of line 2a ......... 4,953 3,861 2,815 2,105 13,733
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		134,332 163,500 67,166 83,134 448,132
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		0 0 0 0 0
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		134,332 163,500 67,166 83,134 448,132
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ...... 568,569 564,117 551,521 491,276 2,175,483
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		 568,569 564,117 551,521 491,276 2,175,483
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		        0
    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) ....     		1,118,884 1,039,522 1,086,872 1,101,292 4,346,570
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		47,745 29,232 92,027 85,650 254,654
    (3) Largest amount of support
    from an exempt organization    		         0
    (4) Gross investment income 355 700 837 949 2,841
    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
    KIMBERTON VOLUNTEER FIRE COMPANY
    PO BOX 99
    KIMBERTON,PA19442     		COMMUNITY ORGANIZATION   CONTRIBUTIONS 100
    MARY BREWER
    C/O MR ST BREWER JR 101 MEADOWBROOK
    RD
    SHORT HILLS,NJ070782545     		RESIDENT   DEFREY SERVICE FEES 2,000
    Total .................................bullet 3a 2,100
    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
    aSERVICE FEES         1,075,938
    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....     14 355  
    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.....          
    8Gain or (loss) from sales of assets other than inventory     18 -4,799  
    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 -4,444 1,075,938
    13Total. Add line 12, columns (b), (d), and (e)...................
    131,071,494
    (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.)
    1A SERVICE FEES ARE CHARGED TO THE RESIDENTS OF GHEEL HOUSE, BUTTONWOOD, AND PARTICIPANTS IN THE COMMUNITY SUPPORT SERVICE PROGRAM. THE FUNDS ARE THEN USED TO PROVIDE AN ENVIRONMENT AND ACTIVITIES FOR THE RESIDENTS THAT PROMOTE COMMUNITY INVOLVEMENT AND AID IN THE GROWTH OF THOSE PERSONS DESCRIBED AS EMOTIONALLY OR MENTALLY ILL
    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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    OMB No. 1545-0047
    2010
    Name of organization
    THE SPIRIT OF GHEEL INC
     
    Employer identification number

    22-2505189
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule—
    Special Rules
    ......................... Arrow Bullet   $    
    Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
    Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part I
    Name of organization
    THE SPIRIT OF GHEEL INC
          		Employer identification number

    22-2505189
    Part I
    Contributors (see Instructions)
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
    1
     
     

    COMMUNITY FOUNDATION FOR SOUTHEAST    
    333 WEST FORT ST SUITE 2010
       
    DETROIT, MI   48226

    		$20,000




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
    2
     
     

    ALFRED MORGAN    
    217 MAIN STREET
       
    EAST HAMPTON, NY   11937

    		$10,000




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
    3
     
     

    DANIEL P TOOMEY TRUST    
    C/O 300 SOUTH OCEAN BLVD
       
    PALM BEACH, FL   33480

    		$5,000




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part II
    Name of organization
    THE SPIRIT OF GHEEL INC
          		Employer identification number

    22-2505189
    Part II
    Noncash Property (see Instructions)
    		     
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part III
    Name of organization
    THE SPIRIT OF GHEEL INC
          		Employer identification number

    22-2505189
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2010 AccountingFeesSchedule
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 19,713 0 6,512 13,201

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2010 AmortizationSchedule
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Description of Amortized Expenses Date Acquired, Completed, or Expended Amount Amortized Deduction for Prior Years Amortization Method Current Year Amortization Net Investment Income Adjusted Net Income Total Amount of Amortization
    LOAN FINANCING FEES 2007-11-29 9,126 7,127 60.000000000000 1,999 0 1,999 9,126

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    TY 2010 DepreciationSchedule
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BASEMENT WATERPROOFING 2006-07-13 1,500 732 SL 7.000000000000 214 0 214  
    MQ BUILDING - GHEEL 1986-02-15 188,688 100,024 SL 45.000000000000 4,193 0 4,193  
    MQ REFINANCING COSTS - GHEEL 1987-05-15 8,797 6,491 SL 31.000000000000 284 0 284  
    MQ CAPITAL IMPROVEMENTS - GHEEL 1988-01-15 2,705 1,323 SL 45.000000000000 60 0 60  
    MQ CAPITAL IMPROVEMENTS - GHEEL 1992-10-15 45,186 25,033 SL 31.000000000000 1,458 0 1,458  
    MQ CAPITAL IMPROVEMENTS - GHEEL 1993-02-15 9,887 4,171 SL 40.000000000000 247 0 247  
    MQ CAPITAL IMPROVEMENTS - GHEEL 1993-03-15 2,500 1,053 SL 40.000000000000 63 0 63  
    MQ CAPITAL IMPROVEMENTS - GHEEL 1995-08-15 2,283 2,194 SL 15.000000000000 89 0 89  
    BARN IMPROVEMENTS ADMIN - GHEEL 1999-06-04 8,810 6,167 SL 15.000000000000 587 0 587  
    WALL TO WALL CARPETING - GHEEL 1999-12-31 1,705 1,194 SL 15.000000000000 114 0 114  
    BUILDING IMPROVEMENTS - GHEEL 2001-07-18 91,990 19,548 SL 40.000000000000 2,300 0 2,300  
    POWDER ROOM IMPROVEMENTS - GHEEL 2004-01-01 2,654 398 SL 40.000000000000 66 0 66  
    CHIMNEY REPAIR - GHEEL 2004-02-26 931 138 SL 40.000000000000 23 0 23  
    SUN ROOM IMPROVEMENTS - GHEEL 2004-05-03 1,450 205 SL 40.000000000000 36 0 36  
    CARPET & FLOORING - GHEEL 2004-11-01 2,257 235 SL 40.000000000000 56 0 56  
    LARRY PERDUE IMPROVEMENTS - GHEEL 2007-05-23 1,756 302 SL 15.000000000000 117 0 117  
    GAZEBO - GHEEL 2007-07-02 2,857 571 SL 15.000000000000 190 0 190  
    NATURE TRAIL - GHEEL 2009-10-07 4,950 83 SL 15.000000000000 330 0 330  
    BATHROOM UPGRADES - GHEEL 2009-10-05 6,347 83 SL 15.000000000000 423 0 423  
    GEOTHERMAL UNIT PROJECT - GHEEL 2010-05-01 66,463   SL 15.000000000000 2,954 0 2,954  
    EQUIPMENT - GHEEL 1984-09-15 6,000 6,000 SL 5.000000000000 0 0 0  
    MQ EQUIPMENT - GHEEL 1991-07-15 100 100 SL 5.000000000000 0 0 0  
    MQ EQUIPMENT - GHEEL 1991-08-15 1,173 1,173 SL 5.000000000000 0 0 0  
    MQ FURNITURE - GHEEL 1992-04-15 1,129 1,129 SL 5.000000000000 0 0 0  
    MQ CHAIRS - GHEEL 1996-03-07 839 839 SL 5.000000000000 0 0 0  
    MAYTAG COMM WASHER - GHEEL 1997-08-22 1,000 1,000 SL 5.000000000000 0 0 0  
    COMPUTER SYSTEM & SOFTWARE - GHEEL 1997-12-31 2,795 2,795 SL 5.000000000000 0 0 0  
    FURNITURE - GHEEL 1998-04-23 629 629 SL 5.000000000000 0 0 0  
    WASHING MACHINE - GHEEL 1998-04-29 528 528 SL 5.000000000000 0 0 0  
    FURNITURE & RUGS - GHEEL 1999-01-01 1,774 1,774 SL 5.000000000000 0 0 0  
    DISHWASHER - GHEEL 1999-06-01 630 630 SL 5.000000000000 0 0 0  
    VIKING STOVE - GHEEL 2001-07-18 7,104 7,104 SL 5.000000000000 0 0 0  
    TELEPHONE SYSTEM - GHEEL 2005-01-17 2,960 2,114 SL 7.000000000000 423 0 423  
    NEW APPLIANCE - GHEEL 2007-07-09 625 302 SL 5.000000000000 125 0 125  
    DRYER - GHEEL 2007-11-21 569 237 SL 5.000000000000 114 0 114  
    MEDICINE CABINET - GHEEL 2007-03-07 1,300 715 SL 5.000000000000 260 0 260  
    FUTON BED - GHEEL 2007-03-28 632 348 SL 5.000000000000 126 0 126  
    MATTRESS SET - GHEEL 2008-07-11 1,434 418 SL 5.000000000000 287 0 287  
    AIR PURIFIER - GHEEL 2008-07-16 450 131 SL 5.000000000000 90 0 90  
    DISHWASHER - GHEEL 2008-08-07 646 180 SL 5.000000000000 129 0 129  
    CLOTHES WASHER - GHEEL 2009-08-18 846 63 SL 5.000000000000 169 0 169  
    GENERATOR - GHEEL 2010-03-18 3,000   SL 7.000000000000 366 0 366  
    TV - GHEEL 2010-04-20 3,000   SL 5.000000000000 413 0 413  
    FREEZER - GHEEL 2010-07-23 579   SL 5.000000000000 51 0 51  
    BLINDS - GHEEL 2010-08-11 1,400   SL 5.000000000000 105 0 105  
    AUTOMOBILE - GHEEL 1989-04-15 13,135 13,135 SL 5.000000000000 0 0 0  
    2003 SUBARU OUTBACK - GHEEL 2004-10-29 19,572 19,572 SL 5.000000000000 0 0 0  
    2005 DODGE GRAND CARAVAN - GHEEL 2005-10-12 18,070 15,359 SL 5.000000000000 2,711 0 2,711  
    2002 MAZDA - GHEEL 2008-03-10 9,775 3,421 SL 5.000000000000 1,955 0 1,955  
    WATER TREATMENT SYSTEM - BUTTONWOOD 2001-10-09 1,499 1,499 SL 7.000000000000 0 0 0  
    IMPROVEMENTS - BUTTONWOOD 2003-06-01 7,110 6,687 SL 7.000000000000 423 0 423  
    CHIMNEY - BUTTONWOOD 2004-01-01 4,135 3,544 SL 7.000000000000 591 0 591  
    AIR CONDITIONING - BUTTONWOOD 2004-06-01 3,461 2,761 SL 7.000000000000 494 0 494  
    IMPROVEMENTS - BUTTONWOOD 2004-11-08 2,722 1,923 SL 7.000000000000 389 0 389  
    CARPET - BUTTONWOOD 2004-11-16 1,172 828 SL 7.000000000000 167 0 167  
    FLAT ROOF REPLACEMENT - BUTTONWOOD 2005-05-24 2,900 1,933 SL 7.000000000000 414 0 414  
    PHONE SYSTEM - BUTTONWOOD 2005-05-31 2,170 1,447 SL 7.000000000000 310 0 310  
    WIRING - BUTTONWOOD 2007-05-09 1,800 664 SL 7.000000000000 257 0 257  
    WELL EXTROL TANK - BUTTONWOOD 2007-10-01 796 256 SL 7.000000000000 114 0 114  
    ROOF REPAIRS - BUTTONWOOD 2008-08-05 18,200 3,683 SL 7.000000000000 2,600 0 2,600  
    WILLIAMS PAINTING - BUTTONWOOD 2008-11-17 5,000 774 SL 7.000000000000 714 0 714  
    WILLIAMS PAINTING - BUTTONWOOD 2009-01-07 5,282 755 SL 7.000000000000 755 0 755  
    BARN BATHROOM & LAUNDRY - BUTTONWOOD 1997-06-30 16,950 14,125 SL 15.000000000000 1,130 0 1,130  
    ALARM SYSTEM - BUTTONWOOD 1998-09-02 5,320 4,079 SL 15.000000000000 355 0 355  
    DECK - BUTTONWOOD 2000-01-07 7,835 4,962 SL 15.000000000000 522 0 522  
    CAPITAL IMPROVEMENTS - BUTTONWOOD 2001-12-31 3,414 3,414 SL 7.000000000000 0 0 0  
    GARAGE LIGHTS - BUTTONWOOD 2006-02-23 4,406 1,126 SL 15.000000000000 294 0 294  
    SEPTIC SYSTEM - BUTTONWOOD 2007-04-24 10,000 1,778 SL 15.000000000000 667 0 667  
    SEWAGE SYSTEM - BUTTONWOOD 2007-06-04 24,000 4,000 SL 15.000000000000 1,600 0 1,600  
    SEWAGE SYSTEM - BUTTONWOOD 2007-07-16 8,880 1,431 SL 15.000000000000 592 0 592  
    FURNITURE - BUTTONWOOD 1998-03-23 958 958 SL 5.000000000000 0 0 0  
    FURNITURE - BUTTONWOOD 1998-03-31 2,969 2,969 SL 5.000000000000 0 0 0  
    FURNITURE - BUTTONWOOD 1998-05-31 710 710 SL 5.000000000000 0 0 0  
    SHED - BUTTONWOOD 1998-07-23 1,094 1,094 SL 5.000000000000 0 0 0  
    DRYER - BUTTONWOOD 1998-08-25 551 551 SL 5.000000000000 0 0 0  
    FURNISHINGS - BUTTONWOOD 1999-05-19 615 615 SL 5.000000000000 0 0 0  
    FURNITURE - BUTTONWOOD 1999-05-19 8,937 8,937 SL 7.000000000000 0 0 0  
    DISHWASHER - BUTTONWOOD 1999-07-16 490 490 SL 5.000000000000 0 0 0  
    HOME FURNISHINGS - BUTTONWOOD 1999-07-16 1,847 1,847 SL 5.000000000000 0 0 0  
    HOME STYLE EQUIPMENT - BUTTONWOOD 1999-08-06 2,569 2,569 SL 5.000000000000 0 0 0  
    FURNISHINGS - BUTTONWOOD 1999-11-05 1,109 1,109 SL 5.000000000000 0 0 0  
    MAGIC SLEEPER - BUTTONWOOD 1999-11-29 829 829 SL 5.000000000000 0 0 0  
    RANGE & CORD - BUTTONWOOD 2007-02-27 371 210 SL 5.000000000000 74 0 74  
    REFRIGERATOR - BUTTONWOOD 2007-02-27 411 247 SL 5.000000000000 82 0 82  
    DISHWASHER - BUTTONWOOD 2010-07-23 579   SL 5.000000000000 51 0 51  
    GENERATOR - BUTTONWOOD 2010-08-16 4,075   SL 7.000000000000 218 0 218  
    2001 HONDA ODYSSEY - BUTTONWOOD 2010-12-31 2,499   SL 5.000000000000 0 0 0  
    BARN MOLD REMOVAL - ADMIN 2006-10-26 1,400 633 SL 7.000000000000 200 0 200  
    XEROX MACHINE - ADMIN 1998-11-24 850 850 SL 5.000000000000 0 0 0  
    COMPUTER - ADMIN 2003-02-28 3,975 3,975 SL 5.000000000000 0 0 0  
    FURNITURE - ADMIN 2003-06-01 1,413 1,329 SL 7.000000000000 84 0 84  
    COMPUTER - ADMIN 2006-03-10 562 421 SL 5.000000000000 112 0 112  
    PHONE SYSTEM - ADMIN 2007-05-04 4,000 2,067 SL 5.000000000000 800 0 800  
    WOOD STOVE FOR BARN - ADMIN 2007-03-19 1,000 550 SL 5.000000000000 0 0 0  
    PELLET STOVE - ADMIN 2010-11-16 3,649   SL 5.000000000000 91 0 91  
    GEO METRO - ADMIN 2000-06-30 1,800 1,800 SL 5.000000000000 0 0 0  
    BLINDS - GHEEL 2010-09-21 1,400   SL 5.000000000000 76 0 76  

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2010 GainLossSaleOtherAssetsSch
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    MAZDA 2002 2008-03 PURCHASED 2010-12     9,775   0 -4,399 5,376
    WOOD STOVE 2007-03 PURCHASED 2010-11   50 1,000   0 -400 550

    TY 2010 LandEtcSchedule2
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BASEMENT WATERPROOFING 1,500 946 554 0
    MQ BUILDING - GHEEL 188,688 104,217 84,471 0
    MQ REFINANCING COSTS - GHEEL 8,797 6,775 2,022 0
    MQ CAPITAL IMPROVEMENTS - GHEEL 2,705 1,383 1,322 0
    MQ CAPITAL IMPROVEMENTS - GHEEL 45,186 26,491 18,695 0
    MQ CAPITAL IMPROVEMENTS - GHEEL 9,887 4,418 5,469 0
    MQ CAPITAL IMPROVEMENTS - GHEEL 2,500 1,116 1,384 0
    MQ CAPITAL IMPROVEMENTS - GHEEL 2,283 2,283   0
    BARN IMPROVEMENTS ADMIN - GHEEL 8,810 6,754 2,056 0
    WALL TO WALL CARPETING - GHEEL 1,705 1,308 397 0
    BUILDING IMPROVEMENTS - GHEEL 91,990 21,848 70,142 0
    POWDER ROOM IMPROVEMENTS - GHEEL 2,654 464 2,190 0
    CHIMNEY REPAIR - GHEEL 931 161 770 0
    SUN ROOM IMPROVEMENTS - GHEEL 1,450 241 1,209 0
    CARPET & FLOORING - GHEEL 2,257 291 1,966 0
    LARRY PERDUE IMPROVEMENTS - GHEEL 1,756 419 1,337 0
    GAZEBO - GHEEL 2,857 761 2,096 0
    NATURE TRAIL - GHEEL 4,950 413 4,537 0
    BATHROOM UPGRADES - GHEEL 6,347 506 5,841 0
    GEOTHERMAL UNIT PROJECT - GHEEL 66,463 2,954 63,509 0
    EQUIPMENT - GHEEL 6,000 6,000   0
    MQ EQUIPMENT - GHEEL 100 100   0
    MQ EQUIPMENT - GHEEL 1,173 1,173   0
    MQ FURNITURE - GHEEL 1,129 1,129   0
    MQ CHAIRS - GHEEL 839 839   0
    MAYTAG COMM WASHER - GHEEL 1,000 1,000   0
    COMPUTER SYSTEM & SOFTWARE - GHEEL 2,795 2,795   0
    FURNITURE - GHEEL 629 629   0
    WASHING MACHINE - GHEEL 528 528   0
    FURNITURE & RUGS - GHEEL 1,774 1,774   0
    DISHWASHER - GHEEL 630 630   0
    VIKING STOVE - GHEEL 7,104 7,104   0
    TELEPHONE SYSTEM - GHEEL 2,960 2,537 423 0
    NEW APPLIANCE - GHEEL 625 427 198 0
    DRYER - GHEEL 569 351 218 0
    MEDICINE CABINET - GHEEL 1,300 975 325 0
    FUTON BED - GHEEL 632 474 158 0
    MATTRESS SET - GHEEL 1,434 705 729 0
    AIR PURIFIER - GHEEL 450 221 229 0
    DISHWASHER - GHEEL 646 309 337 0
    CLOTHES WASHER - GHEEL 846 232 614 0
    GENERATOR - GHEEL 3,000 366 2,634 0
    TV - GHEEL 3,000 413 2,587 0
    FREEZER - GHEEL 579 51 528 0
    BLINDS - GHEEL 1,400 105 1,295 0
    AUTOMOBILE - GHEEL 13,135 13,135   0
    2003 SUBARU OUTBACK - GHEEL 19,572 19,572   0
    2005 DODGE GRAND CARAVAN - GHEEL 18,070 18,070   0
    WATER TREATMENT SYSTEM - BUTTONWOOD 1,499 1,499   0
    IMPROVEMENTS - BUTTONWOOD 7,110 7,110   0
    CHIMNEY - BUTTONWOOD 4,135 4,135   0
    AIR CONDITIONING - BUTTONWOOD 3,461 3,255 206 0
    IMPROVEMENTS - BUTTONWOOD 2,722 2,312 410 0
    CARPET - BUTTONWOOD 1,172 995 177 0
    FLAT ROOF REPLACEMENT - BUTTONWOOD 2,900 2,347 553 0
    PHONE SYSTEM - BUTTONWOOD 2,170 1,757 413 0
    WIRING - BUTTONWOOD 1,800 921 879 0
    WELL EXTROL TANK - BUTTONWOOD 796 370 426 0
    ROOF REPAIRS - BUTTONWOOD 18,200 6,283 11,917 0
    WILLIAMS PAINTING - BUTTONWOOD 5,000 1,488 3,512 0
    WILLIAMS PAINTING - BUTTONWOOD 5,282 1,510 3,772 0
    BARN BATHROOM & LAUNDRY - BUTTONWOOD 16,950 15,255 1,695 0
    ALARM SYSTEM - BUTTONWOOD 5,320 4,434 886 0
    DECK - BUTTONWOOD 7,835 5,484 2,351 0
    CAPITAL IMPROVEMENTS - BUTTONWOOD 3,414 3,414   0
    GARAGE LIGHTS - BUTTONWOOD 4,406 1,420 2,986 0
    SEPTIC SYSTEM - BUTTONWOOD 10,000 2,445 7,555 0
    SEWAGE SYSTEM - BUTTONWOOD 24,000 5,600 18,400 0
    SEWAGE SYSTEM - BUTTONWOOD 8,880 2,023 6,857 0
    FURNITURE - BUTTONWOOD 958 958   0
    FURNITURE - BUTTONWOOD 2,969 2,969   0
    FURNITURE - BUTTONWOOD 710 710   0
    SHED - BUTTONWOOD 1,094 1,094   0
    DRYER - BUTTONWOOD 551 551   0
    FURNISHINGS - BUTTONWOOD 615 615   0
    FURNITURE - BUTTONWOOD 8,937 8,937   0
    DISHWASHER - BUTTONWOOD 490 490   0
    HOME FURNISHINGS - BUTTONWOOD 1,847 1,847   0
    HOME STYLE EQUIPMENT - BUTTONWOOD 2,569 2,569   0
    FURNISHINGS - BUTTONWOOD 1,109 1,109   0
    MAGIC SLEEPER - BUTTONWOOD 829 829   0
    RANGE & CORD - BUTTONWOOD 371 284 87 0
    REFRIGERATOR - BUTTONWOOD 411 329 82 0
    DISHWASHER - BUTTONWOOD 579 51 528 0
    GENERATOR - BUTTONWOOD 4,075 218 3,857 0
    2001 HONDA ODYSSEY - BUTTONWOOD 2,499 0 2,499 0
    BARN MOLD REMOVAL - ADMIN 1,400 833 567 0
    XEROX MACHINE - ADMIN 850 850   0
    COMPUTER - ADMIN 3,975 3,975   0
    FURNITURE - ADMIN 1,413 1,413   0
    COMPUTER - ADMIN 562 533 29 0
    PHONE SYSTEM - ADMIN 4,000 2,867 1,133 0
    PELLET STOVE - ADMIN 3,649 91 3,558 0
    GEO METRO - ADMIN 1,800 1,800   0
    BLINDS - GHEEL 1,400 76 1,324 0
    LOAN FINANCING FEES 9,126 9,126   0


    TY 2010 MortgagesAndNotesPayableSch 
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Total Mortgage Amount: 129699

    Item No. 1
    Lender's Name M&T BANK
    Lender's Title  
    Relationship to Insider NONE
    Original Amount of Loan 29011
    Balance Due 29011
    Date of Note 2009-10
    Maturity Date 2009-06
    Repayment Terms ON DEMAND
    Interest Rate 5.150000000000
    Security Provided by Borrower ORGANIZATIONS ASSETS
    Purpose of Loan BUSINESS LINE OF CREDIT
    Description of Lender Consideration CASH
    Consideration FMV 29011


    TY 2010 OtherAssetsSchedule
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    LOAN FINANCING FEES 9,126 9,126 9,126
    ACCUMULATED AMORTIZATION -7,127 -9,126 -9,126
    CLIENT FUNDS 447 1,328 1,328


    TY 2010 OtherExpensesSchedule
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUTOMOBILE EXPENSE 13,265 0 13,265 0
    EDUCATION, WORKSHOPS, AND CONFERENCES 7,042 0 1,346 5,696
    FEES AND DUES 2,114 0 401 1,713
    FOOD AND SUPPLIES 65,740 0 65,567 173
    INSURANCE 45,607 0 39,875 5,732
    OFFICE SUPPLIES AND EXPENSES 11,070 0 1,759 9,311
    REPAIRS AND MAINTENANCE 55,013 0 50,449 4,564
    TELEPHONE 12,016 0 8,758 3,258
    MARKETING EXPENSE 336 0 0 336
    AMORTIZATION 1,999 0 1,999 0


    TY 2010 OtherIncomeSchedule2
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    SERVICE FEES 1,075,938   1,075,938


    TY 2010 OtherLiabilitiesSchedule
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Description Beginning of Year - Book Value End of Year - Book Value
    SECURITY DEPOSIT 60,822 70,114
    CLIENT FUNDS 447 1,328


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MEDICAL 7,150 0 7,150 0


    TY 2010 TaxesSchedule
    Name:
    THE SPIRIT OF GHEEL INC
    EIN: 22-2505189
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL 48,725 0 43,322 5,403