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
CERES FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)328 EAST BAY STREET   Room/suite
City or town, state, and ZIP code
CHARLESTON, SC29401
A Employer identification number

58-2479387
B Telephone number (see page 10 of the instructions)

(843) 377-0782
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$27,633,177J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments 271,612 271,612  
4 Dividends and interest from securities...... 268,568 268,568  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 809,683
b Gross sales price for all assets on line 6a 9,426,990
7 Capital gain net income (from Part IV, line 2)... 809,683
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 5,207 5,207  
12 Total. Add lines 1 through 11........ 1,355,070 1,355,070  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 60,000 0   60,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 1,550 0   0
16a Legal fees (attach schedule)......... Click to see attachment 97,087 0   4,500
b Accounting fees (attach schedule)....... Click to see attachment 15,104 0   7,552
c Other professional fees (attach schedule).... Click to see attachment 261,168 261,168   0
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 12,786 9,612   3,174
19 Depreciation (attach schedule) and depletion... Click to see attachment 54,062 0  
20 Occupancy.............. 102,082 0   102,082
21 Travel, conferences, and meetings....... 6,148 0   6,148
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 25,029 17,181   7,848
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 635,016 287,961   191,304
25 Contributions, gifts, grants paid........ 1,209,000 1,209,000
26 Total expenses and disbursements. Add lines 24 and 25 1,844,016 287,961   1,400,304
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -488,946
b Net investment income (if negative, enter -0-) 1,067,109
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............... 6,003    
2 Savings and temporary cash investments.......... 2,308,203 1,992,514 1,992,514
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) 4,603,860 Click to see attachment4,192,033 1,206,012
b Investments—corporate stock (attach schedule)........ 11,186,258 Click to see attachment12,026,821 15,737,490
c Investments—corporate bonds (attach schedule)........ 2,018,284 Click to see attachment3,283,206 3,383,649
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 4,548,581 Click to see attachment2,865,818 2,796,449
14 Land, buildings, and equipment: basis bullet2,310,818
Less: accumulated depreciation (attach schedule) bullet405,755 1,959,125 Click to see attachment1,905,063 1,905,063
15 Other assets (describe bullet) Click to see attachment612,000 Click to see attachment612,000 Click to see attachment612,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 27,242,314 26,877,455 27,633,177
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment16,416 Click to see attachment27,033
23 Total liabilities (add lines 17 through 22).......... 16,416 27,033
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................... 27,225,898 26,850,422
25 Temporarily restricted................    
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).................... 27,225,898 26,850,422
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 27,242,314 26,877,455
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 27,225,898
2 Enter amount from Part I, line 27a...................... 2 -488,946
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 113,470
4 Add lines 1, 2, and 3.......................... 4 26,850,422
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 26,850,422
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 RAYMOND JAMES #7137 SHORT TERM P    
b RAYMOND JAMES #7137 LONG TERM P    
c RAYMOND JAMES #5170 SHORT TERM P    
d RAYMOND JAMES #5170 LONG TERM P    
e US TREAS SEC STRIPPED INT PMT P    
CAPITAL GAIN DISTRIBUTIONS 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 3,616,620   2,993,800 622,820
b 1,739,668   1,520,420 219,248
c 925,245   881,483 43,762
d 2,290,020   2,371,604 -81,584
e 850,000   850,000 0
5,437     5,437
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       622,820
b       219,248
c       43,762
d       -81,584
e       0
      5,437
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 2 809,683
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2009 1,432,027 24,293,222 0.058948
2008 973,284 30,931,910 0.031465
2007 784,539 30,377,851 0.025826
2006 1,217,042 28,451,963 0.042775
2005 1,237,256 27,972,711 0.044231
2 Total of line 1, column (d) ...................... 2 0.203245
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 0.040649
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 26,271,606
5 Multiply line 4 by line 3....................... 5 1,067,915
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 10,671
7 Add lines 5 and 6......................... 7 1,078,586
8 Enter qualifying distributions from Part XII, line 4.............. 8 1,400,304
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 10,671
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 10,671
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 10,671
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 23,829
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 23,829
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 13,158
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet13,158 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
 
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)bulletSC
    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 ofbulletDIANE D TERNI STEPHEN GAVEL Telephone no.bullet (843) 377-0782
    Located atbullet328 EAST BAY STREETCHARLESTONSC ZIP+4bullet29401
    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
    Yes
     
    .........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
    DIANE D TERNI PRESIDENT/DIRECTOR
    4.00     		0 0 0
    BREWTON PLANTATION
    YEMASSEE,SC29945
    STEPHEN L GAVEL EXECUTIVE DIRECTOR
    30.00     		60,000 0 0
    BREWTON PLANTATION
    YEMASSEE,SC29945
    FRANK GAVEL JR VICE PRESIDENT/DIRECTOR
    2.00     		0 0 0
    14 WILLOW BROOK LANE
    NEWTOWN,CT06470
    LINDA GAVEL WEBB VICE PRESIDENT/DIRECTOR
    1.00     		0 0 0
    3861 COUNTRY CLUB ROAD
    TROUTVILLE,VA24175
    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
    EAGLE ASSET MANAGEMENT INVESTMENT MANAGEMENT 261,168
    880 CARILLON PARKWAY
    ST PETERSBURG,FL33733
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3...........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    24,737,692
    b
    Average of monthly cash balances.......................
    1b
    1,933,989
    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
    26,671,681
    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
    26,671,681
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    400,075
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    26,271,606
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    1,313,580
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,313,580
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    10,671
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    10,671
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,302,909
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    1,302,909
    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
    1,302,909
    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
    1,400,304
    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
    1,400,304
    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
    10,671
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    1,389,633
    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 1,302,909
    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.......  
    b From 2006.......  
    c From 2007.......  
    d From 2008.......  
    e From 2009....... 229,392
    fTotal of lines 3a through e......... 229,392
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 1,400,304
    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..... 1,302,909
    e Remaining amount distributed out of corpus 97,395
    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 5 326,787
    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) .............     		0
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		326,787
    10 Analysis of line 9:
    a Excess from 2006....  
    b Excess from 2007....  
    c Excess from 2008....  
    d Excess from 2009.... 229,392
    e Excess from 2010.... 97,395
    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
    ABILITY BEYOND DISABILITY
    4 BERKSHIRE BOULEVARD
    BETHEL,CT06801     		NONE PUBLIC CHARITY GENERAL FUND 11,000
    AMERICAN HEART ASSOCIATION
    400 PERCIVAL RD
    COLUMBIA,SC29206     		NONE PUBLIC CHARITY GENERAL FUND 1,000
    AMERICAN RED CROSS ROANOKE VALLEY
    352 CHURCH AVENUE SW
    ROANOKE,VA24010     		NONE PUBLIC CHARITY EMERGENCY COMMUNICATION PROJECT 25,000
    AMERICA'S SECOND HARVEST
    35 EAST WACKER DRIVE SUITE 2000
    CHICAGO,IL60601     		NONE PUBLIC CHARITY GENERAL FUND 5,000
    AMOS HOUSE
    34 ROCKY GLEN RD
    DANBURY,CT06810     		NONE PUBLIC CHARITY GENERAL FUND 5,000
    AMVETS
    4647 FORBES BLVD
    LANHAM,MD20706     		NONE PUBLIC CHARITY GENERAL FUND 1,000
    ANN'S PLACE
    39 OLD RIDGEBURY RD P-4 SUITE 17
    DANBURY,CT06810     		NONE OTHER PUBLIC CHARITY GENERAL FUND 30,000
    AUDUBON SC
    336 SANCTUARY RD
    HARLEYVILLE,SC29448     		NONE OTHER PUBLIC CHARITY GENERAL FUND 30,000
    BARRIER ISLANDS FREE MEDICAL CLINIC
    220 RHETTS BLUFF
    KIAWAH ISLAND,SC29455     		NONE OTHER PUBLIC CHARITY GENERAL FUND/ HONOR B. KUNES 3,000
    BEAUFORT COUNTY ANIMAL SHELTER
    PO DRAWER 1228
    BEAUFORT,SC29901     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    BEAUFORT MARINE INSTITUTE
    60 HONEYBEE ISLAND RD
    SEABROOK,SC29940     		NONE OTHER PUBLIC CHARITY CROQUET TOURNAMENT 10,000
    BEAUFORT MEMORIAL HOSPITAL FOUNDATION
    PO BOX 2233
    BEAUFORT,SC29901     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    BEST PETS INC
    4567 W MONCRIEFF PLACE
    DENVER,CO80212     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    BLUE RIDGE AUTISM & ACHIEVEMENT CENTER
    312 WHITWELL DRIVE
    ROANOKE,VA24019     		NONE OTHER PUBLIC CHARITY CAPITAL IMPROVEMENTS FUND 25,000
    BOYS AND GIRLS CLUB OF THE LOWCOUNTRY
    17B MARSHELLEN DRIVE
    BEAUFORT,SC29902     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    BOYS FARM INC
    PO BOX 713
    NEWBERRY,SC29108     		NONE OTHER PUBLIC CHARITY GENERAL FUND 10,000
    CAMP WILDWOOD
    PO BOX 123
    HAMPTON,SC29924     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    CAPE CARES
    PO BOX 1049
    EAST ORLEANS,MA02643     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    CAROLINA YOUTH DEVELOPMENT CENTER
    5055 LACKAWANNA BLVD
    NORTH CHARLESTON,SC29405     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    CENTER IN THE SQUARE
    1 MARKET SQ SE
    ROANOKE,VA24011     		NONE OTHER PUBLIC CHARITY RENOVATION PROJECT 25,000
    CHANNEL 3 KIDS
    73 TIMES FARM RD
    ANDOVER,CT06232     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    THE CHAPIN SCHOOL
    100 EAST END AVE
    NEW YORK,NY10028     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    CHARLESTON AREA THERAPEUTIC RIDING INC
    PO BOX 146
    JOHNS ISLAND,SC29457     		NONE OTHER PUBLIC CHARITY PURCHASE GREEN BELT PROPERTY 25,000
    CHARLESTON HORTICULTURAL SOCIETY
    46 WINDERMERE BOULEVARD
    CHARLESTON,SC29407     		NONE OTHER PUBLIC CHARITY CHALLENGE/GENERAL FUND 5,000
    CHILDREN'S ADVENTURE CENTER
    14 RIVERSIDE RD
    SANDY HOOK,CT06482     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    CHUCKTOWN SQUASH
    2213 MIDDLE ST FL 2
    SULLIVANS ISLAND,SC29482     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    COASTAL CONSERVATION LEAGUE
    PO BOX 1765
    CHARLESTON,SC29402     		NONE OTHER PUBLIC CHARITY LOCAL FOOD DISTRIBUTION CENTER FUND 400,000
    CONNECTICUT BURNS CARE FOUNDATION INC
    601 BOSTON POST ROAD
    MILFORD,CT06460     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    CONNECTICUT CHILDREN'S MEDICAL CENTER FOUNDATION INC
    282 WASHINGTON STREET
    HARTOFRD,CT06106     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    CONNIE MAXWELL CHILDREN'S HOME
    PO BOX 1178
    GREENWOOD,SC29648     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    CYRENIUS H BOOTH LIBRARY
    25 MAIN STREET
    NEWTOWN,CT06470     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    CYSTIC FIBROSIS FOUNDATION - IOWA CHAPTER
    1025 ASHWORTH RD SUITE 512
    WEST DES MOINES,IA50312     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    DANBURY HOSPITAL DEVELOPMENT FUND
    24 HOSPITAL AVENUE
    DANBURY,CT06810     		NONE OTHER PUBLIC CHARITY GOLF TOUNAMENT 6,000
    DANBURY HOSPITAL DEVELOPMENT FUND
    24 HOSPITAL AVENUE
    DANBURY,CT06810     		NONE OTHER PUBLIC CHARITY GENERAL FUND 20,000
    DANBURY REGIONAL CHILD ADVOCACY CENTER
    268 MAIN STREET
    DANBURY,CT06810     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    DISABLED AMERICAN VETERANS
    3725 ALEXANDRIA PIKE
    COLD SPRING,KY41076     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    DOROTHY DAY HOSPITALITY HOUSE
    PO BOX 922
    DANBURY,CT06813     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    ETV ENDOWMENT OF SC
    401 EAST KENNEDY ST SUITE B-1
    SPARTANBURG,SC29302     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    FAIRFIELD COUNTY COMMUNITY FOUNDATION
    383 MAIN AVE
    NORWALK,CT06851     		NONE OTHER PUBLIC CHARITY IN MEMORY OF A. BISSET 20,000
    FAITH FOOD PANTRY
    119 BOGGS HILLS ROAD
    NEWTOWN,CT06470     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,000
    FAMILIES HELPING FAMILIES (PALMETTO PROJECT)
    1031 CHUCK DAWLEY BLVD SUITE 5
    CHARLESTON,SC29464     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    FENNELL ELEMENTARY SCHOOL
    PO BOX 427
    YEMASSEE,SC29945     		NONE OTHER PUBLIC CHARITY SCHOOL IMPORVEMENTS PER PROPOSAL 50,000
    FOOD ALLERGY AND ANAPHYLAXIS NETWORK
    1414 AVENUE OF THE AMERICAS SUITE
    1804
    NEW YORK,NY10019     		NONE OTHER PUBLIC CHARITY GENERAL FUND 10,000
    FRESH AIR FUND
    633 THIRD AVE
    NEW YORK,NY10017     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    FRIENDS OF CAROLINE HOSPICE
    1110 13TH STREET
    PORT ROYAL,SC29935     		NONE OTHER PUBLIC CHARITY GENERAL FUND 10,000
    FRIENDS OF THE BEAUFORT COUNTY LIBRARY
    311 SCOTT ST
    BEAUFORT,SC29902     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    GEORGIA PUBLIC BROADCASTING
    260 14TH ST NW
    ATLANTA,GA30318     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    GIBBES MUSEUM OF ART
    135 MEETING ST
    CHARLESTON,SC29401     		NONE OTHER PUBLIC CHARITY ONLINE CATALOGUE 20,000
    GOOD NEIGHBOR MEDICAL CLINIC
    PO BOX 583
    BEAUFORT,SC29901     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    GREATER NEW HAVEN COMMUNITY
    171 ORANGE ST 3RD FLOOR
    NEW HAVEN,CT06510     		NONE OTHER PUBLIC CHARITY VETERANS GOLF TOURNAMENT 5,000
    HABITAT FOR HUMANITY INTERNATIONAL
    121 HABITAT ST
    AMERICUS,GA31709     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    HISTORIC BEAUFORT FOUNDATION
    PO BOX 11
    BEAUFORT,SC29901     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    HISTORY FLIGHT INC
    5409 OVERSEAS HIGHWAY 101
    MARATHON,FL33050     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    HUMANE ASSOCIATION OF THE LOWCOUNTRY
    PO BOX 1303
    BEAUFORT,SC29901     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    INTERNATIONAL MEDICAL CORPS
    1919 SANTA MONICA BLVD SUITE 300
    SANTA MONICA,CA90404     		NONE OTHER PUBLIC CHARITY HAITI RELIEF 50,000
    JUVENILE DIABETES RESEARCH FOUNDATION GEORGIA CHAPTER
    120 WALL STREET 19TH FLOOR
    NEW YORK,NY10005     		NONE OTHER PUBLIC CHARITY SUPPORT B. KLUMOK 2,500
    KEVIN'S COMMUNITY CENTER
    31 PECKS LANE
    NEWTOWN,CT06470     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    LIGHTHOUSE CHURCH
    1177 GREGORIE FERRY RD
    MT PLEASANT,SC29466     		NONE OTHER PUBLIC CHARITY GENERAL FUND 3,000
    LITERACY VOLUNTEERS OF ROANOKE VALLEY
    706 S JEFFERSON STREET
    ROANOKE,VA24016     		NONE OTHER PUBLIC CHARITY GENERAL FUND 10,000
    LOWCOUNTRY EARTH FORCE
    PO BOX 22583
    CHARLESTON,SC29413     		NONE OTHER PUBLIC CHARITY OPERATIONS FUND 7,000
    LITERACY VOLUNTEERS OF AMERICA- DANBURY
    248 MAIN STREET
    DANBURY,CT06810     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    LITERACY VOLUNTEERS OF AMERICA- LOWCOUNTRY
    PO BOX 3725
    BLUFFTON,SC29910     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    MADD
    511 E JOHN CARPENTER FREEWAY SUITE
    700
    IRVING,TX75062     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    MICHAEL C CARLOS MUSEUM
    1762 CLIFFTON RD STE 1400
    ATLANTA,GA30322     		NONE OTHER PUBLIC CHARITY BOOK PUBLICATION 20,000
    NATIONAL D-DAY MEMORIAL
    PO BOX 77
    BEDFORD,VA24523     		NONE OTHER PUBLIC CHARITY GENERAL FUND 25,000
    OPERA ROANOKE
    1 MARKET SQ SE STE 2
    ROANOKE,VA24011     		NONE OTHER PUBLIC CHARITY PERFORMANCE 25,000
    OXFAM AMERICA
    226 CAUSEWAY STREET 5TH FLOOR
    BOSTON,MA02114     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    PARALYZED VETERANS OF AMERICA
    801 EIGHTEENTH ST NW
    WASHINGTON,DC20006     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    QUALITY DEER MANAGEMENT ASSOCIATION
    PO BOX 160
    BOGART,GA30622     		NONE OTHER PUBLIC CHARITY GENERAL FUND 10,000
    RACHEL'S CHALLENGE
    PO BOX 11411
    ROANOKE,VA24022     		NONE OTHER PUBLIC CHARITY STRAIGHT STREET 7,000
    REGIONAL HOSPICE OF WESTERN CT
    405 MAIN STREET
    DANBURY,CT06810     		NONE OTHER PUBLIC CHARITY GENERAL FUND 10,000
    REGIONAL YMCA OF WESTERN CONNECTICUT
    2 HUCKELBERRY HILL RD
    BROOKFIELD,CT06804     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    REMOTE AREA MEDICAL FOUNDATION
    1834 BEECH STREET
    KNOXVILLE,TN37920     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    ROANOKE VALLEY SPCA INC
    1340 BALDWIN AVENUE
    ROANOKE,VA24012     		NONE OTHER PUBLIC CHARITY CALENDAR FUNDRAISER/ELSA 2,500
    RUMSEY HALL SCHOOL
    201 ROMFORD RD
    WASHINGTON DEPOT,CT06794     		NONE OTHER PUBLIC CHARITY GENERAL FUND 20,000
    SAFE HAVEN OF GREATER WATERBURY
    29 CENTRAL AVENUE
    WATERBURY,CT06702     		NONE OTHER PUBLIC CHARITY CHILDREN'S COUSELING 5,000
    SALVATION ARMY
    4248 DORCHESTER RD
    NORTH CHARLESTON,SC29405     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    SHELDON TOWNSHIP FIRE DISTRICT
    PO BOX 129
    SHELDON,SC29941     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,000
    RENEWAL HOUSE
    PO BOX 4095
    DANBURY,CT06813     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    SIMPLY SMILES
    1771 POST ROAD EAST
    WESTPORT,CT06880     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    SMART BEGINNINGS
    325 CAMPBELL AVENUE SW
    ROANOKE,VA24016     		NONE OTHER PUBLIC CHARITY GENERAL FUND 25,000
    SOUTH CAROLINA AQUARIUM
    100 AQUARIUM WHARF
    CHARLESTON,SC29401     		NONE OTHER PUBLIC CHARITY GENERAL FUND 30,000
    SOUTHERN ENVIRONMENTAL LAW CENTER
    201 WEST MAIN ST SUITE 14
    CHARLOTTESVILLE,VA22902     		NONE OTHER PUBLIC CHARITY CHARLESTON OFFICE FUND 20,000
    ST HELENA'S EPISCOPAL CHURCH
    PO BOX 1043
    BEAUFORT,SC29901     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,000
    ST JUDE CHILDREN'S HOSPITAL
    501 ST JUDE PLACE
    MEMPHIS,TN38105     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    TOYS FOR TOTS
    18251 QUANTICO GATEWAY DRIVE
    TRIANGLE,VA22172     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    TRIDENT LITERACY ASSOCIATION
    5416B RIVERS AVENUE
    NORTH CHARLESTON,SC29409     		NONE OTHER PUBLIC CHARITY TC DRAYTON CENTER 7,000
    UNICEF
    125 MAIDEN LANE
    NEW YORK,NY10038     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    UNIVERSITY OF CT MASTER GARDENER
    2390 ALUMNI DRIVE UNIT 3206
    STORRS,CT06269     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    UNIVERSITY OF VA ART HISTORY DEPARTMENT
    914 EMMET ST N
    CHARLOTTESVILLE,VA22903     		NONE OTHER PUBLIC CHARITY PUBLICATION COST OF BOOK 1,500
    USO
    2111 WILSON BLVD SUITE 1200
    ARLINGTON,VA22201     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    VALLEY CONSERVATION COUNCIL
    17 BARRISTERS ROW
    STAUNTON,VA24401     		NONE OTHER PUBLIC CHARITY GENERAL FUND 15,000
    VETERANS OF FOREIGN WARS
    406 WEST 34TH ST
    KANSAS CITY,MO64111     		NONE OTHER PUBLIC CHARITY GENERAL FUND 1,000
    VIRGINIA WESTERN EDUCATION FOUNDATION
    PO BOX 14007
    ROANOKE,VA24038     		NONE OTHER PUBLIC CHARITY SCHOLARSHIP FUND 10,000
    VISITING NURSES ASSOCIATION OF NEWTOWN INC
    45 MAIN STREET
    NEWTOWN,CT06470     		NONE OTHER PUBLIC CHARITY GENERAL FUND 2,500
    VOICE FOR JOANIE
    5 GLENWOOD RD
    NEW MILFORD,CT06776     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    WATER MISSIONS INTERNATIONAL
    PO BOX 31258
    CHARLESTON,SC29417     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    WEST END CENTER
    1226 PATTERSON AVE SW
    ROANOKE,VA24016     		NONE OTHER PUBLIC CHARITY LEAP 3,000
    WESTMINSTER SCHOOL
    PO BOX 337
    SIMSBURY,CT06070     		NONE OTHER PUBLIC CHARITY GENERAL FUND 20,000
    WOUNDED WARRIORS
    7020 A C SKINNER PKWY STE 100
    JACKSONVILLE,FL32256     		NONE OTHER PUBLIC CHARITY GENERAL FUND 5,000
    Total .................................bullet 3a 1,209,000
    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     14 271,612  
    4 Dividends and interest from securities....     14 268,568  
    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 5,207  
    8Gain or (loss) from sales of assets other than inventory     14 809,683  
    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 1,355,070 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    131,355,070
    (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:
    CERES FOUNDATION
    EIN: 58-2479387
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 15,104 0   7,552

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

    TY 2010 DepreciationSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    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
    BUILDING 2003-04-15 1,407,046 241,948 SL 39.000000000000 36,078 0    
    BUILDING IMPROVEMENTS 2003-04-15 25,520 4,387 SL 39.000000000000 654 0    
    BUILDING IMPROVEMENTS 2003-08-01 329,755 53,267 SL 39.000000000000 8,455 0    
    BUILDING IMPROVEMENTS 2003-09-01 38,592 6,237 SL 39.000000000000 990 0    
    BUILDING IMPROVEMENTS 2004-01-15 6,843 1,043 SL 39.000000000000 175 0    
    BUILDING IMPROVEMENTS 2004-03-18 15,384 2,282 SL 39.000000000000 394 0    
    BUILDING IMPROVEMENTS 2004-04-01 21,684 3,174 SL 39.000000000000 556 0    
    BUILDING IMPROVEMENTS 2004-04-01 385 57 SL 39.000000000000 10 0    
    BUILDING IMPROVEMENTS 2004-04-14 24,847 3,636 SL 39.000000000000 637 0    
    BUILDING IMPROVEMENTS 2004-10-01 86,800 11,594 SL 39.000000000000 2,226 0    
    AQUARIUM 2003-08-06 2,809 2,680 200DB 7.000000000000 129 0    
    DESK 2003-05-01 7,314 5,372 200DB 10.000000000000 555 0    
    FURNITURE 2003-07-24 10,426 7,575 200DB 10.000000000000 815 0    
    STATUE OF CERES 2004-12-14 6,000 5,096 200DB 7.000000000000 603 0    
    ARTWORK 2005-07-19 19,892     0 % 0 0    
    FAX MACHINE 1999-08-31 205 205 200DB 5.000000000000 0 0    
    COMPUTER AND PRINTER 2005-09-29 1,602 1,510 200DB 5.000000000000 92 0    
    LAND 2003-04-15 248,300   L   0 0    
    BUILDING IMPROVEMENTS 2009-05-04 7,121 122 SL 39.000000000000 183 0    
    BUILDING IMPROVEMENTS 2009-07-09 26,565 341 SL 39.000000000000 681 0    
    BUILDING IMPROVEMENTS 2009-08-13 9,740 104 SL 39.000000000000 250 0    
    BUILDING IMPROVEMENTS 2009-10-15 12,348 79 SL 39.000000000000 317 0    
    COMPUTER 2009-07-02 1,640 164 200DB 5.000000000000 262 0    

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Name of Bond End of Year Book Value End of Year Fair Market Value
    RAYMOND JAMES - CORPORATE BONDS 3,283,206 3,383,649

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Name of Stock End of Year Book Value End of Year Fair Market Value
    RAYMOND JAMES - CORPORATE STOCK 12,026,821 15,737,490

    TY 2010 InvestmentsGovtObligationsSch
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    US Government Securities - End of Year Book Value:

    4,192,033
    US Government Securities - End of Year Fair Market Value:

    1,206,012
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2010 InvestmentsOtherSchedule2
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    RAYMOND JAMES - MUTUAL FUNDS AT COST 34,119 38,873
    RAYMOND JAMES - ASSET BACKED SECURITIES AT COST 2,831,699 2,757,576

    TY 2010 LandEtcSchedule2
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING 1,407,046 278,026 1,129,020 0
    BUILDING IMPROVEMENTS 25,520 5,041 20,479 0
    BUILDING IMPROVEMENTS 329,755 61,722 268,033 0
    BUILDING IMPROVEMENTS 38,592 7,227 31,365 0
    BUILDING IMPROVEMENTS 6,843 1,218 5,625 0
    BUILDING IMPROVEMENTS 15,384 2,676 12,708 0
    BUILDING IMPROVEMENTS 21,684 3,730 17,954 0
    BUILDING IMPROVEMENTS 385 67 318 0
    BUILDING IMPROVEMENTS 24,847 4,273 20,574 0
    BUILDING IMPROVEMENTS 86,800 13,820 72,980 0
    AQUARIUM 2,809 2,809   0
    DESK 7,314 5,927 1,387 0
    FURNITURE 10,426 8,390 2,036 0
    STATUE OF CERES 6,000 5,699 301 0
    ARTWORK 19,892 0 19,892 0
    FAX MACHINE 205 205   0
    COMPUTER AND PRINTER 1,602 1,602   0
    LAND 248,300 0 248,300 0
    BUILDING IMPROVEMENTS 7,121 305 6,816 0
    BUILDING IMPROVEMENTS 26,565 1,022 25,543 0
    BUILDING IMPROVEMENTS 9,740 354 9,386 0
    BUILDING IMPROVEMENTS 12,348 396 11,952 0
    COMPUTER 1,640 1,246 394 0


    TY 2010 LegalFeesSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 97,087 0   4,500


    TY 2010 OtherAssetsSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PROGRAM RELATED ARTWORK 612,000 612,000 612,000


    TY 2010 OtherExpensesSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE EXPENSES 1,658 0   1,658
    INVESTMENT EXPENSE RELATED TO OID 47 47   0
    CONTRACT LABOR 6,190 0   6,190
    ACCRUED INTEREST 17,134 17,134   0


    TY 2010 OtherIncomeSchedule2
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ORIGINAL ISSUE DISCOUNT 3,815 3,815 3,815
    SECURITIES LITIGATION INCOME 1,392 1,392 1,392


    TY 2010 OtherIncreasesSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Description Amount
    UNREALIZED GAIN/LOSS 113,470


    TY 2010 OtherLiabilitiesSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Description Beginning of Year - Book Value End of Year - Book Value
    PAYROLL WITHHOLDING TAXES PAYABLE 1,416 1,416
    RETIREMENT PLAN PAYABLE 15,000 0
    BANK OVERDRAFT 0 25,617


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 261,168 261,168   0


    TY 2010 TaxesSchedule
    Name:
    CERES FOUNDATION
    EIN: 58-2479387
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL TAXES 3,174 0   3,174
    FOREIGN TAXES 9,612 9,612   0