TY 2010 Form 990PF

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	23,111,136
2	Enter amount from Part I, line 27a......................	2	-10,645,583
3	Other increases not included in line 2 (itemize)	3	8,178,472
4	Add lines 1, 2, and 3..........................	4	20,644,025
5	Decreases not included in line 2 (itemize)	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	20,644,025

(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	Aurelian Partners	P	2010-06-30	2010-06-30
b	Aurelian Partners	P	2010-06-30	2010-06-30
c	Gilead Sciences	P	1998-06-15	2010-09-16
d	Bank of America	P	1994-01-11	2010-11-19
e	GMO Int'l Equity Fund	P	2010-06-30	2010-09-30

(e) Gross sales price	(f) Depreciation allowed (or allowable)	(h) Gain or (loss) (e) plus (f) minus (g)
a			56,785
b			54,802
c	440,933	11,180	429,753
d	501,941	76,026	425,915
e	4,283,568	5,712,171	-1,428,603

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-461,348
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 . . . . . . . . . . . . .	3

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
2009	6,319,475	61,969,158	0.101978
2008	6,112,250	84,990,708	0.071917
2007	6,882,205	91,697,775	0.075053
2006	5,348,328	84,547,245	0.063258
2005	4,190,671	71,536,442	0.058581

2	Total of line 1, column (d) ......................	2	0.370787
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	0.074157
4	Enter the net value of noncharitable-use assets for 2010 from Part X, line 5.....	4	53,650,341
5	Multiply line 4 by line 3.......................	5	3,978,548
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	74
7	Add lines 5 and 6.........................	7	3,978,622
8	Enter qualifying distributions from Part XII, line 4..............	8	10,312,724
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.

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	74
	hereand 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	74
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	74
6	Credits/Payments:

a	2010 estimated tax payments and 2009 overpayment credited to 2010	6a	9,500
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	9,500
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.	8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......	9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...	10	9,426
11	Enter the amount of line 10 to be: Credited to 2011 estimated tax9,426	Refunded	11	0

1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
Gordon Gund	Trustee 6.00	0	0	0
14 Nassau Street Princeton,NJ08542
Llura Gund	Trustee 6.00	0	0	0
14 Nassau Street Princeton,NJ08542

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
Aspen Institute One Dupont Circle NW Suite 700 Washington,DC20036	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Aspen Institute One Dupont Circle NW Suite 700 Washington,DC20036	None	501 ( c ) (3)	To help further charitable purposes of organization.	10,000
Aspen Music Festival and School 2 Music School Road Aspen,CO81611	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Aspen Valley Medical Foundation 0401 Castle Creek Road Aspen,CO81611	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Aspen Volunteer Fire Dept 420 East Hopkins Street Aspen,CO81611	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Artist Association Nantucket 28 Centre Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
Athletes for Hope 5335 Wisconsin Avenue NW Suite 850 Washington,DC20015	None	501 ( c ) (3)	To help further charitable purposes of organization.	150,000
Autism Speaks 2 Park Avenue 11th Floor New York,NY10016	None	501 ( c ) (3)	To help further charitable purposes of organization.	60
Bolles School 7400 San Jose Boulevard Jacksonville,FL32217	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
CCEF Nickerson 14 Nassau Street Princeton,NJ08542	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Cameron & Hayden Lord Foundation 110 Riverside Drive 12C New York,NY10024	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,000
Carsons Scholars Fund 305 W Chesapeake Avenue Towson,MD21204	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Center on Addition and Substance Abuse 633 Third Avenue 19th Floor New York,NY10017	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Celeveland Clinic Foundation 9500 Euclid Avenue Cleveland,OH44195	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Challenge Aspen PO Box M Aspen,CO81612	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Cleveland Museum of Art 11150 East Boulevard Cleveland,OH44106	None	501 ( c ) (3)	To help further charitable purposes of organization.	42,500
Coalition to Stop Gun Violence 1023 15th Street NW Suite 600 Washington,DC20005	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Combat Blindness PO Box 5332 Madison,MI03705	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,500
Community Foundation for Nantucket PO Box 204 Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	50,000
Conservation Fund 1800 N Kent Street Suite 1120 Arlington,VA22209	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,500
Cross Cultural Journeys Foundation PO Box 1369 Sausalito,CA94966	None	501 ( c ) (3)	To help further charitable purposes of organization.	37,500
Curtis Institute of Music Development 1726 Locust Street Philadelphia,PA19103	None	501 ( c ) (3)	To help further charitable purposes of organization.	10,000
Cystic Fibrosis Foundation 6931 Arlington Road Bethesda,MD20814	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,500
Cystic Fibrosis Foundation 6931 Arlington Road Bethesda,MD20814	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
D&R Greenway Land Trust One Princeton Place Princeton,NJ08540	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Eiteljorg Museum 500 Washington Street Indianapolis,IN46204	None	501 ( c ) (3)	To help further charitable purposes of organization.	12,500
Enable America 101 E Kennedy Boulevard Tampa,FL33602	None	501 ( c ) (3)	To help further charitable purposes of organization.	100,000
Environmental Defense Fund 257 Park Avenue South New York,NY10010	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Exploring the Arts 215 Park Avenue South Suite 2014 New York,NY10003	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Faith United Reformed Church 10729 78th Avenue Allendale,MI49401	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Foundation Fighting Blindness PO Box 17279 Baltimore,MD21298	None	501 ( c ) (3)	To help further charitable purposes of organization.	500,000
Foundation Fighting Blindness PO Box 17279 Baltimore,MD21298	None	501 ( c ) (3)	To help further charitable purposes of organization.	60,000
Foundation Fighting Blindness PO Box 17279 Baltimore,MD21298	None	501 ( c ) (3)	To help further charitable purposes of organization.	125,000
Foundation Fighting Blindness PO Box 17279 Baltimore,MD21298	None	501 ( c ) (3)	To help further charitable purposes of organization.	250,000
Foundation Fighting Blindness PO Box 17279 Baltimore,MD21298	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,000
Franklin Township PBA PO Box 154 Somerset,NJ08873	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
Friends of Harvard Hockey 124 Mount Auburn Street Cambridge,MA02138	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Friends of Harvard Radcliffe Rowing 124 Mount Auburn Street Cambridge,MA02138	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Friends of the Princeton Public Library 65 Witherspoon Street Princeton,NJ08542	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
GOD's Love We Deliver 166 Avenue of the Americas New York,NY10013	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Goodwill Industries 4-21 27th Avenue Astoria,NY11102	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Grace Brethren Church 355 Panama Chico,CA95973	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Griggstown Volunteer Fire Co 1037 Canal Road Princeton,NJ08540	None	501 ( c ) (3)	To help further charitable purposes of organization.	550
Groton School Box 991 Groton,MA91450	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,500
Groton School Box 991 Groton,MA91450	None	501 ( c ) (3)	To help further charitable purposes of organization.	657
Grounds for Sculpture 18 Fairgrounds Road Hamilton,NJ08619	None	501 ( c ) (3)	To help further charitable purposes of organization.	25,000
Guggenheim Museum 1071 Fifth Avenye New York,NY10128	None	501 ( c ) (3)	To help further charitable purposes of organization.	32,000
Harvard University 124 Mount Auburn Street Cambridge,MA02138	None	501 ( c ) (3)	To help further charitable purposes of organization.	20,000
Harvard University - annual fund 124 Mount Auburn Street Cambridge,MA02138	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Helen Keller International 352 Park Avenue South Suite 1200 New York,NY10010	None	501 ( c ) (3)	To help further charitable purposes of organization.	10,000
Hiram College PO Box 67 Hiram,OH44234	None	501 ( c ) (3)	To help further charitable purposes of organization.	20,000
Hofstra University Shaprio Alumni House 150 Hofstra University Hempstead,NY11550	None	501 ( c ) (3)	To help further charitable purposes of organization.	3,000
Horatio Alger Association 99 Canal Center Plaza Alexandria,VA22314	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Institute for Aegean Prehistory 3550 Market Street Suite 100 Philadelphia,PA19104	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Kelly Rooney Foundation PO Box 158 Wayne,PA19087	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,500
Kendall Park First Aid PO Box 5064 Kendall Park,NJ08824	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
LaCrosse County Historical Society PO Box 1272 LaCrosse,WI54602	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
Lighthouse International 111 East 59th Street New York,NY10022	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Lyme MD Foundation 10755 Falls Road Suite 200 Lutherville,MD21093	None	501 ( c ) (3)	To help further charitable purposes of organization.	75,000
Massachusetts - SPCA 350 South Huntington Avenue Broston,MA02130	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Mercy Home for Boys & Girls 1140 W Jackson Boulevard Chicago,IL60607	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,200
Museum of Modern Art 11 West 53rd Street New York,NY10019	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Nantucket Boys & Girls Club PO Box 269 Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	7,500
Nantucket Community Sailing PO Box 2424 Nantucket,MA02584	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Nantucket Cottage Hospital 57 Prospect Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	3,000
Nantucket Cottage Hospital 57 Prospect Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,000
Nantucket Fireman's Association 137 Pleasant Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	600
Nantucket Historical Association 5 Washington Street PO Box 1016 Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Nantucket Ice 3 Hinckley Lane Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Nantucket Life Saving Museum 4 Winter Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	10,000
National Council on Economic Education 1140 Avenue of the Americas New York,NY10036	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
National Right to Work Legal Defense Fund 8001 Braddock Road Springfield,VA22160	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
National Urban League 156 Fifth Avenue Suite 222 New York,NY10010	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Natural Resource Defense Council 40 West 20th Street New York,NY10011	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Nature Conservancy 4245 North Fairfax Drive Suite 100 Arlington,VA22203	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
New Jersey State Library 185 West State Street Trenton,NJ08625	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
New York Botanical Garden 200th Street Kazimiroff Boulevard Bronx,NY10458	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Ocean Township Hadassah 48 Ascot Drive Wayside,NJ07712	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,500
Ohio Basketball Hall of Fame 524 Colonial Avenue Worthington,OH43085	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,250
On the Rise 341 Broadway Cambridge,MA02139	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Optometric Center of New York 33 West 42nd Street New York,NY10036	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Optometric Center of New York 33 West 42nd Street New York,NY10036	None	501 ( c ) (3)	To help further charitable purposes of organization.	10,000
Partnership for a Drug Free America 156 Fifth Avenue Suite 1100 New York,NY10010	None	501 ( c ) (3)	To help further charitable purposes of organization.	10,000
Population Council One Dag Hammarskjold Plaza New York,NY10164	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
Prescott College PO Box 10668 Prescott,AZ86304	None	501 ( c ) (3)	To help further charitable purposes of organization.	13,000
Princeton Area Community Foundation 15 Princess Road Lawrenceville,NJ08648	None	501 ( c ) (3)	To help further charitable purposes of organization.	50,000
Princeton Child Development 300 Cold Soil Road Princeton,NJ08540	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Princeton Day School PO Box 75 Princeton,NJ08542	None	501 ( c ) (3)	To help further charitable purposes of organization.	12,500
Princeton Senior Resource Center 45 Stockton Street Princeton,NJ08540	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Project Hope 255 Carter Hall Lane Millwood,VA22646	None	501 ( c ) (3)	To help further charitable purposes of organization.	400
Research America 1101 King Street Suite 520 Alexandria,VA22314	None	501 ( c ) (3)	To help further charitable purposes of organization.	25,000
Resource Innovation Group PO Box 51182 Eugene,OR98405	None	501 ( c ) (3)	To help further charitable purposes of organization.	126,500
Rock and Roll Hall of Fame 1 Key Plaza Cleveland,OH44114	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,500
Rocky Hill Hook & Ladder PO Box 175 Rocky Hill,NJ08553	None	501 ( c ) (3)	To help further charitable purposes of organization.	250
St Ann's Church 1253 Lawrence Road Lawrenceville,NJ08648	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
St Hedwig's Roman Catholic Church 872 Brunswick Avenue Trenton,NJ08638	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
St Mark United Methodist Church 465 Paxson Avenue Hamilton,NJ08690	None	501 ( c ) (3)	To help further charitable purposes of organization.	400
St Mary our Lady of the Isle Church PO Box 1168 6 Orange Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	250
St Mary our Lady of the Isle Church PO Box 1168 6 Orange Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	250
St Mary our Lady of the Isle Church PO Box 1168 6 Orange Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
Saint Paul Church 214 Nassau Street Princeton,NJ08542	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
Salvation Army PO Box 956 Somerville,NJ08876	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
Save our Sound 4 Barnstable Road Hyannis,MA02601	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,500
Sharon Arts Center 457 NH Route 123 Sharon,NH03458	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Shelburne Museum US Route 7 PO Box 10 Shelburne,VT05482	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
Shelly Davis Memorial Fund 1126 16th Street NW Suite 270 Washington,DC20036	None	501 ( c ) (3)	To help further charitable purposes of organization.	25,000
Skowhegan School of Painting 200 Park Avenue South Suite 1116 New York,NY10003	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
South Brunswick Social Services PO Box 190 Municipal Complex Monmouth Junction,NJ08852	None	501 ( c ) (3)	To help further charitable purposes of organization.	100
Stonybrook-Millstone Watershed 31 Titus Mill Road Pennington,NJ08534	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Studio in a School 410 West 59th Street New York,NY10019	None	501 ( c ) (3)	To help further charitable purposes of organization.	70,000
Tregoe Education Forum Research Road PO Box 289 Princeton,NJ08542	None	501 ( c ) (3)	To help further charitable purposes of organization.	200,000
Tregoe Education Forum Research Road PO Box 289 Princeton,NJ08542	None	501 ( c ) (3)	To help further charitable purposes of organization.	100,000
Trinity Counseling Service 22 Stockton Street Princeton,NJ08540	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Trinity Counseling Service 22 Stockton Street Princeton,NJ08540	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Tuckernuck Land Trust 6 Ash Lane 2nd Floor PO Box 1093 Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
UJA - Federation of NY Sports 130 East 59th Street Suite 969 New York,NY10022	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,500
USO 601 Indiana Avenue NW Washington,DC20004	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
US Assoc for Blind Athletes 33 N Institue Street Brown Hall Suite 015 Colorado Springs,CO80903	None	501 ( c ) (3)	To help further charitable purposes of organization.	12,500
US Rowing 2 Wall Street Princeton,NJ08540	None	501 ( c ) (3)	To help further charitable purposes of organization.	3,000
United Way 3131 Princeton Pike Building 4 Lawrenceville,NJ08648	None	501 ( c ) (3)	To help further charitable purposes of organization.	10,000
University of Maryland 3300 Melzerolt Road Adelphi,MD20783	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
University of Pennsylvania 3535 Market Street Suite 70 Philadelphia,PA19104	None	501 ( c ) (3)	To help further charitable purposes of organization.	110,000
WGBH One Guest Street Boston,MA02135	None	501 ( c ) (3)	To help further charitable purposes of organization.	42,000
WNET 450 West 33rd Street New York,NY10001	None	501 ( c ) (3)	To help further charitable purposes of organization.	3,000
Whittier College PO Box 634 Whittier,CA90608	None	501 ( c ) (3)	To help further charitable purposes of organization.	1,000
William B Cartier '89 Memorial 700 Route 22 Pawling,NY12564	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Yale 60 College Street Room 600 PO Box 208034 New Haven,CT06520	None	501 ( c ) (3)	To help further charitable purposes of organization.	264
Zarepath Christian Church 14 Chapel Drive Zarephath,NJ08890	None	501 ( c ) (3)	To help further charitable purposes of organization.	400
Prior Year 2010 Voided Checks 14 Nassau Street Princeton,NJ08542	None	501 ( c ) (3)	To help further charitable purposes of organization.	-5,300
Autism Speaks 2 Park Avenue 11th Floor New York,NY10016	None	501 ( c ) (3)	To help further charitable purposes of organization.	29,880
Autism Speaks 2 Park Avenue 11th Floor New York,NY10016	None	501 ( c ) (3)	To help further charitable purposes of organization.	970,060
EarthJustice 426 17th Street 6th Floor Oakland,CA94612	None	501 ( c ) (3)	To help further charitable purposes of organization.	748,008
EarthJustice 426 17th Street 6th Floor Oakland,CA94612	None	501 ( c ) (3)	To help further charitable purposes of organization.	155,835
EarthJustice 426 17th Street 6th Floor Oakland,CA94612	None	501 ( c ) (3)	To help further charitable purposes of organization.	559,650
EarthJustice 426 17th Street 6th Floor Oakland,CA94612	None	501 ( c ) (3)	To help further charitable purposes of organization.	48,022
FFB PO Box 17279 Baltimore,MD21298	None	501 ( c ) (3)	To help further charitable purposes of organization.	3,731,000
FFB PO Box 17279 Baltimore,MD21298	None	501 ( c ) (3)	To help further charitable purposes of organization.	414,460
Groton School Box 991 Groton,MA91450	None	501 ( c ) (3)	To help further charitable purposes of organization.	100,845
Groton School Box 991 Groton,MA91450	None	501 ( c ) (3)	To help further charitable purposes of organization.	634,270
Yale 60 College Street Room 600 PO Box 208034 New Haven,CT06520	None	501 ( c ) (3)	To help further charitable purposes of organization.	349,763
Americas Promise Alliance 1110 Vermont Avenue NW Suite 900 Washington,DC20005	None	501 ( c ) (3)	To help further charitable purposes of organization.	50,000
American BoyChoir School 19 Lambert Drive Princeton,NJ08540	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
American Cancer Society 11701 Stonehollow Drive Suite 500 Washington,DC20005	None	501 ( c ) (3)	To help further charitable purposes of organization.	300
American Foundation for the Blind 145 West 45th Street Suite 300 New York,NY10036	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,500
American Red Cross - National PO Box 37243 Washington,DC20013	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,000
American Red Cross - New Jersey 707 Alexander Road Suite 101 Princeton,NJ08540	None	501 ( c ) (3)	To help further charitable purposes of organization.	500
Total ................................. 3a				10,312,724

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check
3	Interest on savings and temporary cash investments	40,933		40,933
4	Dividends and interest from securities......	328,840		328,840
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-461,348
b	Gross sales price for all assets on line 6a 5,226,442
7	Capital gain net income (from Part IV, line 2)...			0
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	-91,575		369,773
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		300,000	300,000	0
c	Other professional fees (attach schedule)....
17	Interest...............	5,834		5,834	0
18	Taxes (attach schedule) (see page 14 of the instructions)		23,283	23,283	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		-87,833	33,258	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	241,284		362,375	0
25	Contributions, gifts, grants paid........	10,312,724			10,312,724
26	Total expenses and disbursements. Add lines 24 and 25	10,554,008		362,375	10,312,724
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-10,645,583
b	Net investment income (if negative, enter -0-)			7,398
c	Adjusted net income (if negative, enter -0-)...

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............	107,923	51,811	51,811
	2	Savings and temporary cash investments..........	1,501,708
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........	21,301,505	20,492,214	47,514,679
	c	Investments—corporate bonds (attach schedule)........
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	200,000	100,000	100,000
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	23,111,136	20,644,025	47,666,490
	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 )
	23	Total liabilities (add lines 17 through 22)..........	0	0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................	23,111,136	20,644,025
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		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)....................	23,111,136	20,644,025
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	23,111,136	20,644,025

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...................				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

		(a) Corpus	(b) Years prior to 2009	(c) 2009	(d) 2010
1 Distributable amount for 2010 from Part XI, line 7					2,682,443
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.......	639,553
b From 2006.......	1,120,966
c From 2007.......	2,395,641
d From 2008.......	1,998,126
e From 2009.......	3,239,835
fTotal of lines 3a through e.........		9,394,121
4Qualifying distributions for 2010 from Part
XII, line 4: $ 10,312,724
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.....					2,682,443
e Remaining amount distributed out of corpus		7,630,281
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		17,024,402
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) .............		639,553
9Excess distributions carryover to 2011. Subtract lines 7 and 8 from line 6a ......		16,384,849
10 Analysis of line 9:
a Excess from 2006....	1,120,966
b Excess from 2007....	2,395,641
c Excess from 2008....	1,998,126
d Excess from 2009....	3,239,835
e Excess from 2010....	7,630,281

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			56,785
b			54,802
c			429,753
d			425,915
e			-1,428,603

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	6,319,475	61,969,158	0.101978
2008	6,112,250	84,990,708	0.071917
2007	6,882,205	91,697,775	0.075053
2006	5,348,328	84,547,245	0.063258
2005	4,190,671	71,536,442	0.058581

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
Gordon Gund	Trustee 6.00	0	0	0
14 Nassau Street Princeton,NJ08542	Trustee 6.00	0	0	0
Llura Gund	Trustee 6.00	0	0	0
14 Nassau Street Princeton,NJ08542	Trustee 6.00	0	0	0

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

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	(e) Total

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

bApproved for future payment
America's Promise Alliance 1110 Vermont Avenue NW Suite 900 Washington,DC20005	None	501 ( c ) (3)	To help further charitable purposes of organization.	50,000
Art Beyond SightArt Ed For the Blind 589 Broadway New York,NY10012	None	501 ( c ) (3)	To help further charitable purposes of organization.	54,000
Athletes for Hope 5335 Wisconsin Avenue NW Suite 850 Washington,DC20015	None	501 ( c ) (3)	To help further charitable purposes of organization.	350,000
Autism Speaks 2 Park Avenue 11th Floor New York,NY10016	None	501 ( c ) (3)	To help further charitable purposes of organization.	2,000,060
Cleveland Museum of Art 11150 East Boulevard Cleveland,OH44106	None	501 ( c ) (3)	To help further charitable purposes of organization.	170,000
Combat Blindness Foundation PO Box 5332 Madison,MI03705	None	501 ( c ) (3)	To help further charitable purposes of organization.	5,000
Community Foundation for Nantucket PO Box 204 Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	100,000
Earthjustice 426 17th Street 6th Floor Oakland,CA94612	None	501 ( c ) (3)	To help further charitable purposes of organization.	786,246
Farmworker Justice (Shelly Davis) 1126 16th Street NW Suite 270 Washington,DC20036	None	501 ( c ) (3)	To help further charitable purposes of organization.	25,000
FFB - Susan Davis Interantional PO Box 17279 Baltimore,MD21298	None	501 ( c ) (3)	To help further charitable purposes of organization.	240,000
Groton School Box 991 Groton,MA91450	None	501 ( c ) (3)	To help further charitable purposes of organization.	657
Guggenheim Museum 1071 Fifth Avenye New York,NY10128	None	501 ( c ) (3)	To help further charitable purposes of organization.	32,000
LymeMD Foundation 10755 Falls Road Suite 200 Lutherville,MD21093	None	501 ( c ) (3)	To help further charitable purposes of organization.	225,000
Miraclefeet 14 Nassau Street Princeton,NJ08542	None	501 ( c ) (3)	To help further charitable purposes of organization.	50,000
Nantucket Conservation Foundation PO Box 13 Nantucket,MA02254	None	501 ( c ) (3)	To help further charitable purposes of organization.	500,000
Nantucket Cottage Hospital 57 Prospect Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	30,000
Nantucket Life-Saving Museum 4 Winter Street Nantucket,MA02554	None	501 ( c ) (3)	To help further charitable purposes of organization.	10,000
Princeton Area Community Foundation (Bill Burk) 15 Princess Road Lawrenceville,NJ08648	None	501 ( c ) (3)	To help further charitable purposes of organization.	50,000
Resource Innovation Group PO Box 51182 Eugene,OR98405	None	501 ( c ) (3)	To help further charitable purposes of organization.	258,500
Ronald Reagan Legacy Project 722 12th Street NW Washington,DC20005	None	501 ( c ) (3)	To help further charitable purposes of organization.	250,000
Sharon Arts Center 457 NH Route 123 Sharon,NH03458	None	501 ( c ) (3)	To help further charitable purposes of organization.	75,000
Studio In A School 410 West 59th Street New York,NY10019	None	501 ( c ) (3)	To help further charitable purposes of organization.	210,000
Tregoe Educational Forum - Challenge Commitment Research Road PO Box 289 Princeton,NJ08542	None	501 ( c ) (3)	To help further charitable purposes of organization.	200,000
United State Association of Blind Athletes 33 N Institue Street Brown Hall Suite 015 Colorado Springs,CO80903	None	501 ( c ) (3)	To help further charitable purposes of organization.	25,000
University of Pennsylvania 3535 Market Street Suite 70 Philadelphia,PA19104	None	501 ( c ) (3)	To help further charitable purposes of organization.	110,000
William B Cartier '89 Scholarship Fund 700 Route 22 Pawling,NY12564	None	501 ( c ) (3)	To help further charitable purposes of organization.	15,000
Yale University 60 College Street Room 600 PO Box 208034 New Haven,CT06520	None	501 ( c ) (3)	To help further charitable purposes of organization.	350,000
Total .................................. 3b				6,171,463

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	40,933
4 Dividends and interest from securities....			14	328,840
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			14	-461,348
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		-91,575	0

Name of Stock	End of Year Book Value	End of Year Fair Market Value
Gilead Sciences	318,084	15,510,720
Covance Inc	1,177,136	5,141,000
Corning Inc	2,991,807	9,671,592
Key Bank	26,186	637,200
LongLeaf Partners, Custodian	4,286,728	3,496,129
Aurelian Partners	3,102,507	3,102,507
GMO Emerging Markets Fund	4,123,135	5,252,368
Artisan Int'l Fund	2,540,291	2,776,823
WF Closed End Int'l Fund	1,926,340	1,926,340

Description	Revenue and Expenses per Books	Net Investment Income
Miscellaneous Expenses	26	26
Aurlian Partners Investment Fees	30,315	30,315
WF Fund Investment Fees	2,917	2,917
Federal Tax Refund	-121,091	0

Description	Amount
Appreciation of stock gifted to charitable organizations	7,605,523
Aurelian Partners unrealized appreciation of assets	572,949

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

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