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 CARLS FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)333 WEST FORT STREET NO 1940   Room/suite
City or town, state, and ZIP code
DETROIT, MI48226
A Employer identification number

38-6099935
B Telephone number (see page 10 of the instructions)

(313) 965-0990
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$112,152,678J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 2,797,628 2,797,628  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,293,032
b Gross sales price for all assets on line 6a 56,173,876
7 Capital gain net income (from Part IV, line 2)... 2,293,032
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).......      
12 Total. Add lines 1 through 11........ 5,090,660 5,090,660  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 133,650 0   133,650
14 Other employee salaries and wages...... 132,000 0   132,000
15 Pension plans, employee benefits....... 116,895 0   116,895
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 22,000 7,333   14,667
c Other professional fees (attach schedule).... Click to see attachment 537,664 537,664   0
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 101,451 0   18,451
19 Depreciation (attach schedule) and depletion... Click to see attachment 3,220 0  
20 Occupancy.............. 49,471 0   49,471
21 Travel, conferences, and meetings....... 2,453 0   2,453
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 57,087 0   57,076
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,155,891 544,997   524,663
25 Contributions, gifts, grants paid........ 4,555,385 4,555,385
26 Total expenses and disbursements. Add lines 24 and 25 5,711,276 544,997   5,080,048
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -620,616
b Net investment income (if negative, enter -0-) 4,545,663
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............... 21,945 70,219 70,219
2 Savings and temporary cash investments.......... 4,225,107 3,338,299 3,338,299
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........... 10,000    
10a Investments—U.S. and state government obligations (attach schedule) 18,150,937 Click to see attachment16,497,620 16,614,226
b Investments—corporate stock (attach schedule)........ 50,622,203 Click to see attachment50,979,649 66,624,596
c Investments—corporate bonds (attach schedule)........ 22,169,464 Click to see attachment21,953,868 23,190,638
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 1,073,372 Click to see attachment2,804,763 2,304,832
14 Land, buildings, and equipment: basis bullet55,433
Less: accumulated depreciation (attach schedule) bullet45,565 1,874 Click to see attachment9,868 9,868
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 96,274,902 95,654,286 112,152,678
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 96,274,902 95,654,286
30 Total net assets or fund balances (see page 17 of the
instructions).................... 96,274,902 95,654,286
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 96,274,902 95,654,286
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 96,274,902
2 Enter amount from Part I, line 27a...................... 2 -620,616
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 95,654,286
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 95,654,286
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 INVESTMENTS - COMERICA TRUST P 2009-01-01 2010-06-30
b DISPOSAL OF COMPUTER EQUIPMENT P 2006-09-12 2010-12-31
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 56,173,876   53,879,936 2,293,940
b     908 -908
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       2,293,940
b       -908
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 2,293,032
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 4,445,204 92,492,949 0.048060
2008 5,255,119 110,249,627 0.047666
2007 6,249,522 125,847,883 0.049659
2006 5,788,624 119,422,979 0.048472
2005 5,590,203 113,567,229 0.049224
2 Total of line 1, column (d) ...................... 2 0.243081
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 0.048616
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 102,786,864
5 Multiply line 4 by line 3....................... 5 4,997,086
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 45,457
7 Add lines 5 and 6......................... 7 5,042,543
8 Enter qualifying distributions from Part XII, line 4.............. 8 5,080,048
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2010)
Form 990-PF (2010)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 45,457
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 45,457
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 45,457
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 94,109
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 94,109
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 48,652
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet48,652 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)bulletMI
    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 addressbulletWWW.CARLSFDN.ORG
    14
    The books are in care ofbulletELIZABETH A STIEG Telephone no.bullet (313) 965-0990
    Located atbullet333 WEST FORT STREET SUITE 1940DETROITMI ZIP+4bullet48226
    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
    ARTHUR B DERISLEY FMR PRESIDENT/TREASURER
    1.00     		1,500 0 0
    5172 DRIFTWOOD DRIVE
    COMMERCE TWP,MI48382
    HAROLD E STIEG VICE PRESIDENT/SECRETARY
    1.00     		2,250 0 0
    2685 LAMPLIGHTER LANE
    BLOOMFIELD HILLS,MI48304
    ELIZABETH A STIEG EXECUTIVE DIRECTOR
    40.00     		119,400 17,909 0
    333 WEST FORT STREET NO 1940
    DETROIT,MI48226
    HENRY FLEISCHER PRESIDENT/TRUSTEE
    1.00     		2,250 0 0
    8221 PINE LAKE DRIVE
    DAVISBURG,MI48350
    TERESA R KREIGER TRUSTEE
    1.00     		2,250 0 0
    1201 N GARNER
    MILFORD,MI48380
    ROBERT A SAJDAK ADVISORY BOARD
    1.00     		1,000 0 0
    PO BOX 75000
    DETROIT,MI48275
    DR HOMER E NYE TRUSTEE
    1.00     		1,000 0 0
    228 S SPRUCE STREET
    TRAVERSE CITY,MI49684
    EDWARD C STIEG ADVISORY BOARD
    1.00     		1,000 0 0
    725 S FIGUEROA STREET SUITE 3050
    LOS ANGELES,CA90017
    TERESA KREIGER-BURKE PHD ADVISORY BOARD
    1.00     		1,000 0 0
    1109 N GARNER
    MILFORD,MI48380
    BRUCE FLEISCHER PHD ADVISORY BOARD
    1.00     		1,000 0 0
    9 NOTTINGHAM ROAD
    BEDFORD HILLS,NY10507
    DONALD DELONG ESQ ADVISORY BOARD
    1.00     		1,000 0 0
    25899 W 12 MILE ROAD NO 380
    SOUTHFIELD,MI48034
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3...........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    100,729,897
    b
    Average of monthly cash balances.......................
    1b
    3,622,249
    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
    104,352,146
    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
    104,352,146
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    1,565,282
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    102,786,864
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    5,139,343
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    5,139,343
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    45,457
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    45,457
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,093,886
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    5,093,886
    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
    5,093,886
    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
    5,080,048
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes................................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    5,080,048
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
    45,457
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    5,034,591
    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 5,093,886
    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....... 80,661
    d From 2008.......  
    e From 2009.......  
    fTotal of lines 3a through e......... 80,661
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 5,080,048
    a Applied to 2009, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		 0
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2010 distributable amount..... 5,080,048
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2010. 13,838 13,838
    (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 66,823
    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 ......     		66,823
    10 Analysis of line 9:
    a Excess from 2006....  
    b Excess from 2007.... 66,823
    c Excess from 2008....  
    d Excess from 2009....  
    e Excess from 2010....  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    ELIZABETH A STIEG EXECUTIVE DIRECTO
    333 WEST FORT STREET SUITE 1940
    DETROIT,MI48226
    (313) 965-0990
    bThe form in which applications should be submitted and information and materials they should include:
    NO FORMAL APPLICATION OR REQUEST FORM IS REQUIRED
    cAny submission deadlines:
    THERE ARE NO DEADLINES FOR SUBMISSION OF REQUESTS
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE FOUNDATION HAS A BROADLY DEFINED CHARITABLE PURPOSE BUT THE PRINCIPAL PURPOSE IS CHILDRENS HEALTH & WELFARE (PRIMARILY IN MI) AND PRESERVATION OF NATURAL AREAS, OPEN SPACES AND HISTORICAL BUILDINGS. NO GRANTS TO INDIVIDUALS, FOR ENDOWMENTS, PUBLICATIONS, CONFERENCES, SEMINARS, FILM, FELLOWSHIPS, EDUCATION, LOANS, TRAVEL, RESEARCH, PLAYGROUND OR ATHLETIC FACILITIES, NOR UNDERWRITING EVENTS
    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
    U-M CS MOTT CHILDREN'S HOSPITAL
    300 NORTH INGALLS
    ANN ARBOR,MI48109     		NONE PUBLIC CHARITY SUPPORT THE CAMPAIGN FOR NEW HOSPITAL IN ANN ARBOR 1,000,000
    JUDSON CENTER
    4410 WEST THIRTEEN MILE ROAD
    ROYAL OAK,MI48073     		NONE PUBLIC CHARITY SUPPORT THE EXPANSION OF AUTISM PROGRAM IN MACOMB & 150,000
    SPARROW FOUNDATION
    1110 E MICHIGAN AVENUE
    LANSING,MI48909     		NONE PUBLIC CHARITY PURCHASE OF TWO A-ABR SCREENING MACHINES FOR NICU AND MOTHER BABY CENTER 36,500
    ST JOHN HEALTHCARE FOUNDATION
    1471 E 12 MILE ROAD
    MADISON HEIGHTS,MI48071     		NONE PUBLIC CHARITY PURCHASE OF AUDIOLOGY EQUIPMENT FOR PROVIDENCE HOSPITALS 44,880
    MUNSON REGIONAL HEALTHCARE FOUNDATION
    210 BEAUMONT PLACE
    TRAVERSE CITY,MI48684     		NONE PUBLIC CHARITY PURCHASE OF AABR HEARING SCREENING EQUIPMENT FOR NEWBORN TESTING 48,500
    WAYNE STATE UNIVERSITY
    5475 WOODWARD AVENUE
    DETROIT,MI48202     		NONE PUBLIC UNIVERSITY FUNDS TO IMPLEMENT MI NEONATAL BIOBANK 151,000
    LIONS HEARING CENTER OF MICHIGAN
    4201 ST ANTOINE
    DETROIT,MI48201     		NONE PUBLIC CHARITY FOLLOW-UP EXAMS; TREATMENT FOR INFANTS THAT FAIL HEARING SCREENING 35,000
    BOYS AND GIRLS CLUB OF SOUTHEAST MICHIGAN
    26777 HALSTEAD STE 100
    FARMINGTON HILLS,MI48331     		NONE PUBLIC CHARITY REPAIRS TO GYM WALL AND LABOR COSTS FOR NEW CARPET AND PAINT FOR WERTZ CLUB 30,000
    FREEDOM HOUSE
    2630 WEST LAFAYETTE
    DETROIT,MI48216     		NONE PUBLIC CHARITY CREATION OF A FAMILY SPACE FOR CHILDREN FOR FAMILIES SEEKING POLI ASYLUM 25,000
    STATE OF MICHIGAN FOR BENEFIT OF COVENANT COMMUNITY CARE
    559 WEST GRAND BLVD
    DETROIT,MI48216     		NONE PUBLIC CHARITY SUPPORT FOR PHARMACY PROJECT 25,000
    U OF M KELLOGG EYE CENTER
    1000 WALL STREET
    ANN ARBOR,MI48105     		NONE PUBLIC CHARITY PROVIDE CAPITAL FUNDS TO ESTABLISH THE CARLS PEDIATR 400,000
    LAND TRUST ALLIANCE
    1660 L STREET NW SUITE 1100
    WASHINGTON,DC20036     		NONE PUBLIC CHARITY SUPPORT THE 3-YEAR GRANT PARTNERSHIP WITH HEART OF T 150,000
    WAYNE STATE UNIVERSITY
    4841 CASS AVENUE
    DETROIT,MI48201     		NONE PUBLIC CHARITY SUPPORT THE RENOVATION OF DEPT OF COMMUNIC & SCIENCE 250,000
    BARBARA ANN KARMANOS CANCER INSTITUTE
    4100 JOHN R
    DETROIT,MI48201     		NONE PUBLIC CHARITY SUPPORT THE STEM CELL PROCESSING LAB & JP MCCARTY 50,000
    HENRY FORD HEALTH SYSTEM
    2799 WEST GRAND BLVD
    DETROIT,MI48202     		NONE PUBLIC CHARITY SUPPORT THE PEDIATRIC DERMATOLOGY EMERGENCY NEEDS FU 400,000
    CENTRAL DETROIT CHRISTIAN DEVELOPMENT CORPORATION
    8840 SECOND AVENUE
    DETROIT,MI48202     		NONE PUBLIC CHARITY SUPPORT FOR PEACHES AND GREENS MOBILE PRODUCE MARKET 10,000
    NORTHERN MICHIGAN REGIONAL HOSPITAL FOUNDATION
    360 CONNABLE AVENUE
    PETOSKEY,MI49770     		NONE PUBLIC CHARITY CONTINUED SUPPORT FOR EARLY HEARING DETECTION AND INTERVENTION PROGRAM 20,000
    WESTERN WAYNE FAMILY HEALTH CENTERS
    2500 HAMLIN COURT
    INKSTER,MI48141     		NONE PUBLIC CHARITY PURCHASE OF A RADIOGRAPHIC PROCESSOR, DENTAL SYSTEMS AND SUPPLIES 28,368
    CHILDREN'S LEUKEMIA FOUNDATION OF MICHIGAN
    5455 CORPORATE DRIVE STE 306
    TROY,MI48098     		NONE PUBLIC CHARITY SUPPORT FOR PATIENT SERVICES COORDINATOR AND UNDERWRITING OF MANUAL 50,000
    LENAWEE COUNTY FOUNDATION OF MICHIGAN
    4107 NORTH ADRIAN HWY
    ADRIAN,MI49221     		NONE PUBLIC CHARITY PURCHASE OF TEN MOBILE AMPLIFICATION SYSTEMS 13,300
    WESTERN MICHIGAN UNIVERSITY FOUNDATION
    1903 W MICHIGAN AVENUE
    KALAMAZOO,MI49008     		NONE PUBLIC CHARITY EXPANSION OF COCHLEAR IMPLANT PROGRAM AND DEVELOPMENT OF EDUCATIONAL PROGRAM 150,000
    MERCY HEALTH PARTNERS
    1500 E SHERMAN BLVD
    MUSKEGON,MI49443     		NONE PUBLIC CHARITY PURCHASE OF NEWBORN HEARING SCREENER FOR BIRTH CENTER 23,000
    BEYOND BASICS
    PO BOX 7
    BLOOMFIELD HILLS,MI48303     		NONE PUBLIC CHARITY TUTORING RELATED EXPENSES FOR READING PROGRAM 20,000
    CONSTANCE BROWN HEARING AND SPEECH CENTER
    1634 GULL ROAD STE 201
    KALAMAZOO,MI49048     		NONE PUBLIC CHARITY PURCHASE A NON-SEDATED AUDITORY BRAIN-STEM RESPONSE AUDIOMETER AND EQUIPMENT 21,955
    KETTERING UNIVERSITY
    1700 WEST THIRD AVENUE
    FLINT,MI48504     		NONE PUBLIC UNIVERSITY SUPPORT FOR AN ENDOWMENT FOR THE LIVES IMPROVE THROUGH ENGINEERING PROGRAM 25,000
    ALTERNATIVES FOR GIRLS
    903 WEST GRAND BLVD
    DETROIT,MI48308     		NONE PUBLIC CHARITY SUPPORT FOR RESOURCE CENTER 50,000
    LIONS OF MICHIGAN SERVICE FOUNDATION
    5730 EXECUTIVE DRIVE
    LANSING,MI48911     		NONE PUBLIC CHARITY CAPACITY BUILDING AND EXPANSION OF MEDICAL SERVICES 50,000
    HEART OF THE LAKES CENTER FOR LAND CONSERVATION
    300 NORTH BRIDGE STREET
    GRAND LEDGE,MI48837     		NONE NATURE CONSERVATION PROVIDE MICHIGAN'S LAND CONSERVANCIES WITH TOOLS FOR CONSERVATION PLANNING 75,000
    MICHIGAN STATE UNIVERSITY
    218 WEST FEE HALL
    EAST LANSING,MI48824     		NONE PUBLIC UNIVERSITY CAMPAIGN TO ENROLL WAYNE CTY PARTICIPANTS IN NAT'L CHILDREN'S STUDY 50,000
    HURON RIVER WATERSHED COUNCIL
    1100 N MAIN STE 210
    ANN ARBOR,MI48104     		NONE NATURE CONSERVATION SUPPORT FOR HURON RIVER WATERSHED TO ID AND ESTABLISH CONSERVATION PRIORITIE 50,000
    GRAND TRAVERSE REGIONAL LAND CONSERVANCY
    3860 NORTH LONG LAKE RD STE D
    TRAVERSE CITY,MI49684     		NONE NATURE CONSERVATION PURCHASE AND PRESERVATION OF THREE PARCELS ALONG E. TRAVERSE BAY WATERFRONT 100,000
    MICHIGAN TECHNOLOGICAL UNIVERSITY
    1400 TOWNSEND DRIVE
    HOUGHTON,MI49932     		NONE PUBLIC UNIVERSITY SUPPORT THE ANNUAL MERIT PROGRAM FOR UNIVERSITY 14,607
    UNIVERSITY OF MICHIGAN
    2011 STUDENT ACTIVITIES
    ANN ARBOR,MI48109     		NONE PUBLIC UNIVERSITY SUPPORT ANNUAL MERIT & FINANCIAL NEEDS FOR STUDENTS 23,275
    ST JOSEPH MERCY OAKLAND
    44405 WOODWARD AVENUE
    PONTIAC,MI48341     		NONE PUBLIC CHARITY RENOVATE AND EXPAND NEONATAL INTENSIVE CARE UNIT 250,000
    BETHANY CHRISTIAN SERVICES
    901 EASTERN AVENUE NE PO BOX 294
    GRAND RAPIDS,MI49501     		NONE PUBLIC CHARITY SALARY FOR RN TO PROVIDE SERVICES TO MEDICALLY DEPENDENT CHILDREN 50,000
    GOODWILL INDUSTRIES OF NORTHERN MICHIGAN
    2279 S AIRPORT WEST
    TRAVERSE CITY,MI49684     		NONE PUBLIC CHARITY REPLACEMENT OF REFRIGERATED VEHICLE FOR FOOD RESCUE IN NW MI 70,000
    THE FURNITURE RESOURCE CENTER
    333 NORTH PERRY
    PONTIAC,MI48342     		NONE PUBLIC CHARITY SEED MONEY FOR LOW-INCOME BEDS AND EDUCATION OF SLEEP NEEDS OF CHILDREN 15,000
    STARFISH FAMILY SERVICES
    30000 HIVELEY ROAD
    INSKTER,MI48141     		NONE PUBLIC CHARITY REPLACEMENT OF NEW ROOF AND HVAC SYSTEM FOR BUILDING 100,000
    THE BEAUMONT FOUNDATION
    3711 WEST THIRTEEN MILE ROAD
    ROYAL OAK,MI48073     		NONE PUBLIC CHARITY TECHNOLOGY AND EQUIPMENT FOR NEONATAL ICU AT BEAUMONT HOSPITAL, TROY 100,000
    OAKWOOD HEALTHCARE SYSTEM FOUNDATION
    23400 MICHIGAN AVENUE STE 301
    DEARBORN,MI48124     		NONE PUBLIC CHARITY AUGMENTATIVE COMMUNICATION EQUIPMENT FOR PATIENTS OF EXCEPTIONAL FAMILIES 100,000
    DUCKS UNLIMITED
    1220 EISENHOWER PLACE
    ANN ARBOR,MI48108     		NONE PUBLIC CHARITY PURCHASE OF UPPER BUSHMAN EISLE PARCELS IN PARTNERSHIP WITH OAKLAND CTY 200,000
    LITTLE FORKS CONSERVANCY INC
    105 POST STREET
    MIDLAND,MI48640     		NONE NATURE CONSERVATION ACQUISITION AND PROTECTION OF 419 ACRES ON TITABAWASSEE RIVER 25,000
    SOUTHEAST MICHIGAN LAND CONSERVANCY
    8383 VREELAND ROAD
    SUPERIOR TWP,MI48198     		NONE NATURE CONSERVATION CAPACITY BUILDING AND EXPANSION OF PRESERVATION EFFORTS THROUGHOUT SE MI 75,000
    Total .................................bullet 3a 4,555,385
    bApproved for future payment
    SOUTHEAST MICHIGAN LAND CONSERVANCY
    8383 VREELAND ROAD
    SUPERIOR TWP,MI48198     		NONE NATURE CONSERVATION CAPACITY BUILDING AND EXPANSION OF MEDICAL SERVICES 75,000
    WESTERN MICHIGAN UNIVERSITY FOUNDATION
    1903 W MICHIGAN AVENUE
    KALAMAZOO,MI49008     		NONE PUBLIC CHARITY EXPANSION OF COCHLEAR IMPLANT PROGRAM AND DEVELOPMENT OF EDUCATIONAL PROGRAM 150,000
    ST JOSEPH MERCY OAKLAND
    44405 WOODWARD AVENUE
    PONTIAC,MI48341     		NONE PUBLIC CHARITY RENOVATE AND EXPAND NEONATAL INTENSIVE CARE UNIT 250,000
    FORGOTTEN HARVEST
    21800 GREENFIELD
    OAK PARK,MI48237     		NONE PUBLIC CHARITY LEADERSHIP GIFT TO INCREASE DISTRIBUTION TO 36 MILLION POUNDS OF FOOD 1,000,000
    OAKWOOD HEALTHCARE SYSTEM FOUNDATION
    23400 MICHIGAN AVENUE STE 301
    DEARBORN,MI48124     		NONE PUBLIC CHARITY AUGMENTATIVE COMMUNICATION EQUIPMENT FOR PATIENTS OF EXCEPTIONAL FAMILIES 50,000
    Total ..................................bullet 3b 1,525,000
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments          
    4 Dividends and interest from securities....     14 2,797,628  
    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     17 2,293,032  
    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 5,090,660 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    135,090,660
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash....................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements............................
    1b(4)
     
    No
    (5) Loans or loan guarantees..............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2010 AccountingFeesSchedule
    Name:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT & TAX FEES 22,000 7,333   14,667

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

    TY 2010 DepreciationSchedule
    Name:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    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
    COMPUTER EQUIPMENT 2006-09-12 7,885 6,523 200DB 5.000000000000 455 0    
    FURNITURE & FIXTURES 1997-06-30 24,046 24,046 200DB 7.000000000000 0 0    
    OFFICE EQUIPMENT 2002-09-17 15,422 15,422 200DB 5.000000000000 0 0    
    COMPUTER EQUIPMENT 2002-02-11 350 350 200DB 5.000000000000 0 0    
    COMPUTER EQUIPMENT 2010-05-19 4,651   200DB 5.000000000000 930 0    
    COMPUTER EQUIPMENT 2010-05-19 7,472   200DB 5.000000000000 1,494 0    
    COMPUTER EQUIPMENT 2006-09-12 2,962 2,450 200DB 5.000000000000 205 0    

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    Name of Bond End of Year Book Value End of Year Fair Market Value
      21,953,868 23,190,638

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    Name of Stock End of Year Book Value End of Year Fair Market Value
      50,979,649 66,624,596

    TY 2010 InvestmentsGovtObligationsSch
    Name:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    US Government Securities - End of Year Book Value:

    16,497,620
    US Government Securities - End of Year Fair Market Value:

    16,614,226
    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:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    DEFENSIVE STRATEGY HEDGE FUND AT COST 2,804,763 2,304,832

    TY 2010 LandEtcSchedule2
    Name:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    FURNITURE & FIXTURES 24,046 24,046   0
    COMPUTER SOFTWARE 530 530   0
    OFFICE EQUIPMENT 15,422 15,422   0
    COMPUTER EQUIPMENT 350 350   0
    COMPUTER EQUIPMENT 4,651 930 3,721 0
    COMPUTER EQUIPMENT 7,472 1,494 5,978 0
    COMPUTER EQUIPMENT 2,962 2,655 307 0


    TY 2010 OtherExpensesSchedule
    Name:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE SUPPLIES 897 0   897
    TELEPHONE EXPENSE 3,399 0   3,399
    POSTAGE & SHIPPING 504 0   504
    EQUIPMENT RENTAL 499 0   499
    MAINTENANCE EXPENSE 143 0   143
    BUSINESS INSURANCE 28,236 0   28,236
    DUES & PUBLICATIONS 9,607 0   9,607
    BANK SERVICE FEES 255 0   244
    PAYROLL SERVICE FEES 1,791 0   1,791
    COMPUTER CONSULTING 3,190 0   3,190
    OTHER EXPENSE 8,566 0   8,566


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 537,664 537,664   0


    TY 2010 TaxesSchedule
    Name:
    THE CARLS FOUNDATION
    EIN: 38-6099935
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL TAXES 18,451 0   18,451
    EXCISE TAXES 83,000 0   0