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
EDWIN E AND RUBY C MORGAN FOUNDATION INC
 

Number and street (or P.O. box number if mail is not delivered to street address)254 A KATHERINE DRIVE   Room/suite
City or town, state, and ZIP code
FLOWOOD, MS39232
A Employer identification number

64-0667872
B Telephone number (see page 10 of the instructions)

(601) 939-4443
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$17,993,559J 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) 0
2 Check bullet
3 Interest on savings and temporary cash investments 3,249 3,249  
4 Dividends and interest from securities...... 793,668 790,569  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 93,625
b Gross sales price for all assets on line 6a 3,494,555
7 Capital gain net income (from Part IV, line 2)... 93,625
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 1,278 1,278  
12 Total. Add lines 1 through 11........ 891,820 888,721  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 281,887 136,401   145,486
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 76,045 37,186   38,859
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 1,772 0   1,772
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 4,328 78   0
19 Depreciation (attach schedule) and depletion... Click to see attachment 4,294 382  
20 Occupancy.............. 7,815 416   7,399
21 Travel, conferences, and meetings....... 2,025 0   2,025
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 13,544 909   12,577
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 391,710 175,372   208,118
25 Contributions, gifts, grants paid........ 675,000 675,000
26 Total expenses and disbursements. Add lines 24 and 25 1,066,710 175,372   883,118
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -174,890
b Net investment income (if negative, enter -0-) 713,349
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............... 406 904 904
2 Savings and temporary cash investments.......... 1,556,338 852,528 852,528
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 2,442,717 Click to see attachment6,033,911 5,984,533
b Investments—corporate stock (attach schedule)........ 7,843,897 Click to see attachment7,763,154 6,766,365
c Investments—corporate bonds (attach schedule)........ 7,246,937 Click to see attachment4,269,202 4,190,849
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet209,319
Less: accumulated depreciation (attach schedule) bullet14,495 199,118 Click to see attachment194,824 194,824
15 Other assets (describe bullet) Click to see attachment0 Click to see attachment0 Click to see attachment3,556
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 19,289,413 19,114,523 17,993,559
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.................... 19,289,413 19,114,523
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 19,289,413 19,114,523
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 19,289,413 19,114,523
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 19,289,413
2 Enter amount from Part I, line 27a...................... 2 -174,890
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 19,114,523
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 19,114,523
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 GM SECURITIES LIQUIDATION P    
b WORLDCOM VICTIMS TRUST P    
c 500 SHS APPLE, INC. P 2010-01-28 2010-01-29
d 300,000 FED HM LN 5.2% P 2009-10-15 2010-04-15
e 215,000 CALIF ST GO 6.2% P 2009-10-15 2010-05-25
250,000 CITIGROUP 5.5% P 2009-09-18 2010-05-25
250,000 GE GLOBAL 6.45% P 2009-09-23 2010-05-25
416,000 FED MTG 5.125% P 2009-09-24 2010-06-24
2,000 CORTS TR 6.75% P   2010-09-10
2,000 SHS AMERICAN EXP D 1999-10-16 2010-04-21
800 SHS EDWARDS LIFES D 1999-10-16 2010-04-26
2,500 SHS BAXTER INTNL D 1999-10-16 2010-04-27
500 SHS BAXTER INTNL D 1999-10-16 2010-04-27
75 SHS LSI LOGIC CORP D 1999-10-16 2010-12-17
2,000 SHS AMERICAN EXP P 2008-09-09 2010-04-21
1,500 SHS BK OF AMERICA P 2008-12-02 2010-04-21
3,000 SHS BK OF AMERICA P 2009-01-22 2010-04-21
1,200 SHS EDWARDS LIFES P 2007-04-27 2010-04-26
.05 SH EXXON MOBILE P 2007-06-13 2010-06-28
.6 SH FRONTIER COMMU P 2008-04-01 2010-07-01
330,000 AT&T CORP 6.5% P 2008-05-20 2010-10-01
300,000 GE CAP 6.75% P 2008-05-13 2010-10-01
200,000 HSBC FIN 6% P 2010-07-19 2010-10-01
250,000 MERRI LYN 6.05% P 2009-09-18 2010-10-01
111 SHS FAIRPOINT COMM P 2006-11-17 2010-12-15
28 SHS AIG P 2008-02-13 2010-12-17
46 SHS STERLING FIN P 2007-12-28 2010-12-17
398 SHS WELLS FARGO P 2007-12-10 2010-12-22
398 SHS WELLS FARGO P 2007-12-12 2010-12-22
1,000 SHS BK OF AMERICA P 2007-08-23 2010-12-27
1,000 SHS BK OF AMERICA P 2007-08-31 2010-12-27
(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 2,217     2,217
b 123     123
c 103,353   100,808 2,545
d 300,000   299,700 300
e 225,079   218,763 6,316
245,935   235,148 10,787
257,975   240,992 16,983
416,000   415,376 624
50,000   51,100 -1,100
88,997   79,443 9,554
80,796   10,433 70,363
172,714   100,928 71,786
24,673   14,418 10,255
435   12,583 -12,148
88,997   77,363 11,634
27,762   20,934 6,828
55,523   22,569 32,954
121,193   59,046 62,147
3   3 0
4   8 -4
363,863   322,554 41,309
333,625   313,851 19,774
217,075   200,000 17,075
266,350   249,692 16,658
2   1,141 -1,139
1,425   27,932 -26,507
746   51,417 -50,671
11,980   85,367 -73,387
11,980   87,765 -75,785
12,865   51,296 -38,431
12,865   50,300 -37,435
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       2,217
b       123
c       2,545
d       300
e       6,316
      10,787
      16,983
      624
      -1,100
      9,554
      70,363
      71,786
      10,255
      -12,148
      11,634
      6,828
      32,954
      62,147
      0
      -4
      41,309
      19,774
      17,075
      16,658
      -1,139
      -26,507
      -50,671
      -73,387
      -75,785
      -38,431
      -37,435
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 93,625
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 920,825 15,660,847 0.058798
2008 1,003,735 18,721,200 0.053615
2007 953,525 20,752,796 0.045947
2006 940,454 19,773,308 0.047562
2005 912,487 19,751,202 0.046199
2 Total of line 1, column (d) ...................... 2 0.252121
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 0.050424
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 17,081,834
5 Multiply line 4 by line 3....................... 5 861,334
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 7,133
7 Add lines 5 and 6......................... 7 868,467
8 Enter qualifying distributions from Part XII, line 4.............. 8 883,118
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2010)
Form 990-PF (2010)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 7,133
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2............................ 3 7,133
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 7,133
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 11,672
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 11,672
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 4,539
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet4,539 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)bulletMS
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletR MILLER REID CPA Telephone no.bullet (601) 939-4443
    Located atbullet254A KATHERINE DRIVEFLOWOODMS ZIP+4bullet39232
    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
    R MILLER REID PRES/TREAS/DIR
    35.00     		194,859 43,676 0
    C/O FOUNDATION
    FLOWOOD,MS39232
    MILLER DAVID REID VP/SEC/DIR
    40.00     		83,314 16,548 0
    C/O FOUNDATION
    FLOWOOD,MS39232
    PHILIP L COLSON DIRECTOR
    0.50     		1,238 0 0
    C/O FOUNDATION
    FLOWOOD,MS39232
    KAREN M MORGAN DIRECTOR
    0.50     		1,238 0 0
    C/O FOUNDATION
    FLOWOOD,MS39232
    GE MORGAN DIRECTOR
    0.50     		1,238 0 0
    C/O FOUNDATION
    FLOWOOD,MS39232
    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 N/A 0
    2  
    3  
    4  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A 0
    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
    16,350,563
    b
    Average of monthly cash balances.......................
    1b
    973,743
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    17,657
    d
    Total (add lines 1a, b, and c).........................
    1d
    17,341,963
    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
    17,341,963
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    260,129
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    17,081,834
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    854,092
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    854,092
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    7,133
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,133
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    846,959
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    846,959
    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
    846,959
    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
    883,118
    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
    883,118
    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
    7,133
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    875,985
    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 7 846,959
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 773,552
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2010:
    a From 2005.......  
    b From 2006.......  
    c From 2007.......  
    d From 2008.......  
    e From 2009.......  
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 883,118
    a Applied to 2009, but not more than line 2a 773,552
    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..... 109,566
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		737,393
    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 ......     		0
    10 Analysis of line 9:
    a Excess from 2006....  
    b Excess from 2007....  
    c Excess from 2008....  
    d Excess from 2009....  
    e Excess from 2010....  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    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).)
    R MILLER REID
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    COMMUNITY HOSPITAL FOUNDATION
    PO BOX HH
    MONTEREY,CA939421085     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 6,000
    CTRL COAST VISITING NURSE ASSOC & HOSPICE
    PO BOX 2480
    MONTEREY,CA93942     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 3,000
    DELIVER ME SENIOR SUPPORT SERVICES
    1405 SOUTH GALLATIN STREET
    JACKSON,MS39201     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 30,000
    DELIVER ME SENIOR SUPPORT SERVICES
    1405 SOUTH GALLATIN STREET
    JACKSON,MS39201     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 14,900
    DELIVER ME SENIOR SUPPORT SERVICES
    1405 SOUTH GALLATIN STREET
    JACKSON,MS39201     		NONE PUBLIC CHARITY HEARING AIDS 9,100
    HOSPICE FOUNDATION FOR THE CENTRAL COAST
    PO BOX 1798
    MONTEREY,CA93942     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 4,000
    MISSISSIPPI FOOD NETWORK
    PO BOX 411
    JACKSON,MS39205     		NONE PUBLIC CHARITY FOOD PROGRAM 40,000
    MISSISSIPPI SPAY AND NEUTER
    2104 OLD BRANDON ROAD
    PEARL,MS39208     		NONE PUBLIC CHARITY SPAY AND NEUTER PROGRAM 75,000
    MS ANIMAL RESCUE LEAGUE
    4395 SOUTH DRIVE
    JACKSON,MS39209     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 20,000
    MS ANIMAL RESCUE LEAGUE
    4395 SOUTH DRIVE
    JACKSON,MS39209     		NONE PUBLIC CHARITY VETERINARIAN SALARY AND BENEFITS 63,000
    MS ANIMAL RESCUE LEAGUE
    4395 SOUTH DRIVE
    JACKSON,MS39209     		NONE PUBLIC CHARITY SPAY AND NEUTER PROGRAM 20,000
    SO CHRISTIAN SVC FOR CHILD & YOUTH INC
    1900 N WEST ST STE B
    JXN,MS392021034     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 40,000
    SO CHRISTIAN SVC FOR CHILD & YOUTH INC
    1900 N WEST ST STE B
    JXN,MS392021034     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 10,000
    STEWPOT COMMUNITY SERVICES INC
    1100 WEST CAPITOL STREET
    JACKSON,MS39203     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 40,000
    STEWPOT COMMUNITY SERVICES INC
    1100 WEST CAPITOL STREET
    JACKSON,MS39203     		NONE PUBLIC CHARITY OPPORTUNITY CENTER 41,000
    THE GLEANERS INC
    PO BOX 9883
    JACKSON,MS392860883     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 40,000
    THE HOME PLACE
    PO DRAWER 720
    MADISON,MS391300720     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 20,000
    THE MUSTARD SEED
    1085 LUCKNEY ROAD
    BRANDON,MS39047     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 40,000
    THE SALVATION ARMY METRO JACKSON COMMAND
    PO BOX 448
    JACKSON,MS392050448     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 40,000
    THE SALVATION ARMY METRO JACKSON COMMAND
    PO BOX 448
    JACKSON,MS392050448     		NONE PUBLIC CHARITY SOUTHERN MISSISSIPPI METROPOLITAN AREA COMMAND OPERA 50,000
    WINGARD HOME INC
    1279 NORTH WEST STREET
    JACKSON,MS39202     		NONE PUBLIC CHARITY GENERAL OPERATING EXPENSES 40,000
    WINGARD HOME INC
    1279 NORTH WEST STREET
    JACKSON,MS39202     		NONE PUBLIC CHARITY 2010 DODGE VAN, TAG, INS & OPERATING EXPENSES 29,000
    Total .................................bullet 3a 675,000
    bApproved for future payment
    Total ..................................bullet 3b 0
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 3,249  
    4 Dividends and interest from securities....     14 793,668  
    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.....     15 1,278  
    8Gain or (loss) from sales of assets other than inventory     18 93,625  
    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).. 0 891,820 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    13891,820
    (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:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    HADDOX, REID, BURKES & CALHOUN 1,772 0   1,772

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

    TY 2010 DepreciationSchedule
    Name:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BUILDING 2007-08-01 167,455 10,201 SL 39.000000000000 4,294 0    
    LAND 2007-08-01 41,864   L   0 0    

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AEGON FNDG CORP 5.75% 12/15/20 96,504 102,996
    BANK OF AMERICA 5.42% 3/15/17 441,388 448,395
    CATERPILLAR FIN 5.75% 1/15/27 176,758 177,264
    CITIGROUP 7% 12/1/25 250,393 263,038
    GEN ELEC CAP 5.7% 4/15/26 400,000 386,000
    GEN ELEC CAP 6% 4/15/38 400,000 385,862
    GEN ELEC CAP 7% 5/19/18 100,000 101,468
    GEN MTRS NOTES 7.125% 7/15/13 176,582 57,375
    GEN MTRS ACCEPT 6.875% 8/28/12 98,134 104,250
    GOLDMAN SACHS BK 6.345% 2/15/34 252,218 261,931
    GOLDMAN SACHS BK 6.125% 2/15/33 214,430 240,651
    GTE CALIF INC 6.75% 5/15/27 257,775 251,122
    GTE CALIF INC 6.75% 5/15/27 102,508 100,449
    LEHMAN BRO BK 6% 5/23/28 100,000 101,914
    M&I BANK FSB 6.25% 7/31/28 100,000 100,383
    M&I MARSHALL 6.25% 7/31/28 100,000 100,383
    MERRILL LYNCH CO 6.22% 9/15/26 144,097 142,452
    NATIONSBANK CORP 6.8% 3/15/28 105,007 100,458
    PACIFIC BELL 6.625% 10/15/34 254,025 252,716
    PROTECTIVE LIFE 5.6% 1/15/18 150,000 150,117
    SOUTHTRUST BK 6.565% 12/15/27 104,108 101,652
    WACHOVIA CORP 6.605% 10/1/25 245,275 259,973

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    Name of Stock End of Year Book Value End of Year Fair Market Value
    4142 SHARES AMER ELECTRIC POWER CO 142,476 149,029
    1000 SHARES AMEREN CORPORATION 36,859 28,190
    8900 SHARES AMERICAN EXPRESS COMPANY 359,988 381,988
    1380 SHARES AMERIPRISE FINANCIAL INC 39,047 79,419
    14000 SHARES AT&T INC 484,795 411,320
    14000 SHARES BANK OF AMERICA CORP 368,219 186,760
    8300 SHARES BAXTER INTERNATIONAL INC 331,452 420,146
    2250 SHARES BLACK HILLS CORP 50,589 67,500
    10000 SHARES BLACKROCK BUILD AMERICA 200,000 173,600
    1753 SHARES CVS CAREMARK CORP 5,084 60,952
    1492 SHARES CARDINAL HEALTH INC 35,018 57,159
    746 SHARES CAREFUSION CORP 13,876 19,172
    4000 SHARES CBS CORPORATION 6.75% SRNTS 83,354 101,080
    6000 SHARES CENTERPOINT ENERGY INC 124,090 94,320
    1500 SHARES CISCO SYSTEMS INC 33,120 30,345
    8000 SHARES CITIGROUP INC 217,398 37,840
    1017 SHARES COMCAST CORP NEW CL A 41,247 22,344
    4000 SHARES COMCAST CORP NTS 7% 99,274 101,200
    2000 SHARES CONOCO PHILLIPS 102,009 136,200
    3000 SHARES DOMINION RES INC VA NEW 68,109 128,160
    4500 SHARES DTE ENERGY COMPANY 149,748 203,940
    4680 SHARES DUKE ENERGY CORP NEW 49,041 83,351
    2000 SHARES EDISON INTERNATIONAL 53,718 77,200
    2250 SHARES EXELON CORPORATION 42,047 93,690
    1597 SHARES EXXON MOBIL CORP 104,057 116,773
    3657 SHARES FIRSTENERGY CORP 91,025 135,382
    2000 SHARES FORD MOTOR COMPANY 28,710 33,580
    1419 SHARES FRONTIER COMMUNICATIONS 14,931 13,807
    70000 SHARES GENERAL ELECTRIC CO 2,363,440 1,280,300
    4731 SHARES GENON ENERGY INC 27,803 18,025
    2000 SHARES HALLIBURTON CO HLDG CO 34,500 81,660
    3000 SHARES INTEL CORP 79,808 63,090
    2000 SHARES MICROSOFT CORP 55,987 55,820
    1220 SHARES N V ENERGY INC 26,325 17,141
    1714 SHARES NORTHEAST UTILITIES 37,033 54,642
    2000 SHARES NSTAR 37,266 84,380
    2500 SHARES PEPCO HOLDINGS INC 59,188 45,625
    3000 SHARES PFIZER INCORPORATION 77,493 52,530
    5500 SHARES PG&E CORP 127,413 263,120
    4000 SHARES PUBLIC STORAGE 6.625% PFD 88,324 99,840
    709 SHARES QUEST COMMUNICATIONS INTL 23,431 5,395
    27000 SHARES REGIONS FINANCIAL CP NEW 402,764 189,000
    751 SHARES SEMPRA ENERGY 15,560 39,412
    5000 SHARES THE SOUTHERN COMPANY 78,415 191,150
    2340 SHARES SPECTRA ENERGY CORP 35,352 58,477
    1000 SHARES STERLING BANCORP NY 14,909 10,470
    130 SHARES TRUSTMARK CORP 2,777 3,229
    3500 SHARES U S BANCORP DEL NEW 110,701 94,395
    2500 SHARES UIL HOLDINGS CO 73,078 74,900
    2075 SHARES UNITED COMMUNITY BKS INC 34,484 4,046
    5914 SHARES VERIZON COMMUNICATIONS 231,652 211,603
    875 SHARES VODAFONE GROUP PLC 47,375 23,135
    7000 SHARES WELLS FARGO & CO NEW 234,155 216,930
    3550 SHARES XCEL ENERGY INC 74,640 83,603

    TY 2010 InvestmentsGovtObligationsSch
    Name:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    US Government Securities - End of Year Book Value:

    0
    US Government Securities - End of Year Fair Market Value:

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


    6,033,911
    State & Local Government Securities - End of Year Fair Market Value:


    5,984,533


    TY 2010 LandEtcSchedule2
    Name:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING 167,455 14,495 152,960 0
    LAND 41,864 0 41,864 0


    TY 2010 OtherAssetsSchedule
    Name:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    GAS ROYALTY & FURNITURE 0 0 3,556


    TY 2010 OtherExpensesSchedule
    Name:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    DUES AND SUBSCRIPTIONS 905 0   905
    INSURANCE 2,805 0   2,805
    SUPPLIES & MISCELLANEOUS 1,376 0   1,376
    EDUCATION 1,370 0   1,370
    INTERNET 1,818 909   909
    FOOD 117 0   59
    COMPUTERS 4,565 0   4,565
    COPIER/PRINTER 588 0   588


    TY 2010 OtherIncomeSchedule2
    Name:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PLAINS MARKETING ROYALTY 1,278 1,278 1,278


    TY 2010 TaxesSchedule
    Name:
    EDWIN E AND RUBY C MORGAN FOUNDATION INC
    EIN: 64-0667872
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 4,250 0   0
    SEVERANCE TAX 78 78   0