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 07-01-2010 , and ending 06-30-2011
G
Check all that apply:
Name of foundation
ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
 

Number and street (or P.O. box number if mail is not delivered to street address)C/O JPMORGAN CHASE BANKNAPOBOX 3038   Room/suite
City or town, state, and ZIP code
MILWAUKEE, WI532013038
A Employer identification number

75-6014459
B Telephone number (see page 10 of the instructions)

(414) 977-1210
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$19,535,385J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments 382 382  
4 Dividends and interest from securities...... 383,546 383,243  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 871,883
b Gross sales price for all assets on line 6a 8,826,984
7 Capital gain net income (from Part IV, line 2)... 871,883
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 859,729 854,090  
12 Total. Add lines 1 through 11........ 2,115,540 2,109,598  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 128,608 96,456   32,152
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 1,305 0   1,305
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 158,504 91,522   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 71,806 71,806   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 360,223 259,784   33,457
25 Contributions, gifts, grants paid........ 760,185 760,185
26 Total expenses and disbursements. Add lines 24 and 25 1,120,408 259,784   793,642
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 995,132
b Net investment income (if negative, enter -0-) 1,849,814
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............... 516,575 498,612 498,612
2 Savings and temporary cash investments.......... 538,700 642,503 642,503
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) 537,853    
b Investments—corporate stock (attach schedule)........ 5,159,335 Click to see attachment7,493,277 8,615,240
c Investments—corporate bonds (attach schedule)........ 5,797,724 Click to see attachment5,616,015 5,917,064
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 2,190,699 Click to see attachment1,500,000 1,622,835
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment39 Click to see attachment39 Click to see attachment2,239,131
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 14,740,925 15,750,446 19,535,385
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 14,740,925 15,750,446
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see page 17 of the
instructions).................... 14,740,925 15,750,446
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 14,740,925 15,750,446
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 14,740,925
2 Enter amount from Part I, line 27a...................... 2 995,132
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 14,389
4 Add lines 1, 2, and 3.......................... 4 15,750,446
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 15,750,446
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 SALES OF PUBLICLY TRADED SECURITIES      
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 8,822,821   7,955,101 867,720
b 4,163     4,163
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       867,720
b       4,163
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 871,883
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 866,322 18,079,575 0.047917
2008 847,983 17,707,812 0.047888
2007 1,257,254 20,811,139 0.060413
2006 1,258,978 20,104,273 0.062622
2005 1,028,917 15,253,633 0.067454
2 Total of line 1, column (d) ...................... 2 0.286294
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 0.057259
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 18,735,041
5 Multiply line 4 by line 3....................... 5 1,072,750
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 18,498
7 Add lines 5 and 6......................... 7 1,091,248
8 Enter qualifying distributions from Part XII, line 4.............. 8 793,642
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 36,996
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 36,996
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 36,996
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 72,618
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 72,618
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 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 35,622
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet20,000 Refunded Bullet 11 15,622
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)bulletTX
    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 ofbulletJPMORGAN CHASE BANK NA Telephone no.bullet (817) 884-4772
    Located atbullet420 THROCKMORTONFORT WORTHTX ZIP+4bullet76102
    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
    JPMORGAN CHASE BANK NA TRUSTEE
    3.00     		128,608 0 0
    PO BOX 3038
    MILWAUKEE,WI53201
    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 Click to see attachment 0
    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
    15,452,247
    b
    Average of monthly cash balances.......................
    1b
    1,410,677
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    2,157,422
    d
    Total (add lines 1a, b, and c).........................
    1d
    19,020,346
    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
    19,020,346
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    285,305
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    18,735,041
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    936,752
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    936,752
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    36,996
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    36,996
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    899,756
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    899,756
    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
    899,756
    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
    793,642
    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
    793,642
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    793,642
    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 7 899,756
    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....... 309,738
    b From 2006....... 297,996
    c From 2007....... 273,979
    d From 2008.......  
    e From 2009.......  
    fTotal of lines 3a through e......... 881,713
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 793,642
    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..... 793,642
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2010. 106,114 106,114
    (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 5 775,599
    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) .............     		203,624
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		571,975
    10 Analysis of line 9:
    a Excess from 2006.... 297,996
    b Excess from 2007.... 273,979
    c Excess from 2008....  
    d Excess from 2009....  
    e Excess from 2010....  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    JPMORGAN CHASE BANK NA
    PO BOX 2050
    FORT WORTH,TX76113
    (817) 884-4772
    bThe form in which applications should be submitted and information and materials they should include:
    WRITTEN-NAME OF ORGANIZATION, PURPOSE, AMOUNT, REASON FOR REQUEST, LIST OF DIRECTORS AND VERIFICATION OF TAX-EXEMPT STATUS
    cAny submission deadlines:
    N/A
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    N/A
    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
    AGRICULTURAL DEVELOPMENT FUND
    PO BOX 150
    FORT WORTH,TX76101     		NONE PUBLIC CHARITY PROGRAM SUPPORT 1,000
    ALLIANCE FOR CHILDREN INC
    908 SOUTHLAND AVE
    FORT WORTH,TX76104     		NONE PUBLIC CHARITY CHILD ABUSE COUNSELING 50,000
    BLUE SHOE PROJECT INC
    909 DOGWOOD CT
    COLLEYVILLE,TX76034     		NONE PUBLIC CHARITY EDUCATION CENTER 5,000
    CAMP FIRE USA FIRST TEXAS COUNCIL
    2700 MEACHAM BLVD
    FORT WORTH,TX76137     		NONE PUBLIC CHARITY GRIEF CAMP FOR CHILDREN 4,950
    CAMP FIRE USA FIRST TEXAS COUNCIL
    2700 MEACHAM BLVD
    FORT WORTH,TX76137     		NONE PUBLIC CHARITY PROGRAM SUPPORT 13,000
    CASA OF TARRANT COUNTY INC
    101 SUMMIT AVE 505
    FORT WORTH,TX76102     		NONE PUBLIC CHARITY PROGRAM SUPPORT 25,000
    CHRIST'S HAVEN FOR CHILDREN
    4150 KELLAR HASLET RD
    KELLER,TX76244     		NONE PUBLIC CHARITY PROGRAM SUPPORT 5,000
    CIRCLE THEATRE INC
    PO BOX 470456
    FORT WORTH,TX76104     		NONE PUBLIC CHARITY PROGRAM SUPPORT 20,000
    COMMUNITIES IN SCHOOLS OF GREATER TARRANT CNTY
    1723 HEMPHILL
    FORT WORTH,TX76110     		NONE PUBLIC CHARITY PROGRAM SUPPORT 45,000
    COMMUNITY ENRICHMENT CENTER INC
    6250 NE LOOP 820
    FORT WORTH,TX76107     		NONE PUBLIC CHARITY PROGRAM SUPPORT 30,000
    COMMUNITY FDN OF NORTH TEXAS
    306 W 7TH ST STE 850
    FORT WORTH,TX76102     		NONE PUBLIC CHARITY PROGRAM SUPPORT 5,000
    COVENANT CLASSICAL SCHOOL
    1701 WIND STAR WAY
    FORT WORTH,TX76108     		NONE PUBLIC CHARITY PROGRAM SUPPORT 50,000
    FORT WORTH PUBLIC LIBRARY FDN
    500 W 3RD ST
    FORT WORTH,TX76102     		NONE PUBLIC CHARITY PROGRAM SUPPORT 10,000
    FORT WORTH STOCKSHOW SYNDICATE 2011
    PO BOX 17005
    FORT WORTH,TX76102     		NONE PUBLIC CHARITY PROGRAM SUPPORT 4,035
    FORT WORTH ZOOLOGICAL ASSOC
    1989 COLONIAL PKWY
    FORT WORTH,TX76110     		NONE PUBLIC CHARITY PROGRAM SUPPORT 25,000
    HARBOR CLUB INC
    3000 W 5TH ST
    FORT WORTH,TX76107     		NONE PUBLIC CHARITY PROGRAM SUPPORT 15,000
    HUGWORKS
    752 MARY DRIVE
    HURST,TX76053     		NONE PUBLIC CHARITY MUSIC THERAPY PROGRAM 7,200
    JAMES L WEST PRESBYTERIAN SPECIAL CARE CENTER
    1111 SUMMIT AVE
    FORT WORTH,TX76102     		NONE PUBLIC CHARITY ALZHEIMERS PROGRAM 250,000
    MAYFEST INC
    255 BAILEY AVE
    FORT WORTH,TX76107     		NONE PUBLIC CHARITY PROGRAM SUPPORT 5,000
    SAFEHAVEN OF TARRANT COUNTY
    8701 BEDFORD EULESS RD
    HURST,TX76053     		NONE PUBLIC CHARITY PROGRAM SUPPORT 40,000
    SPAN INC
    1800 MALONE ST
    DENTON,TX76201     		NONE PUBLIC CHARITY TRANSPORTATION SVCS 5,000
    TARRANT COUNTY ASSOC FOR THE BLIND
    NARJRB BLDG 1229
    FORT WORTH,TX76127     		NONE PUBLIC CHARITY PROGRAM SUPPORT 20,000
    TARRANT COUNTY YOUTH COLLABORATION
    6707 BRENTWOOD STAIR RD
    FORT WORTH,TX76112     		NONE PUBLIC CHARITY PROGRAM SUPPORT 50,000
    THE LEARNING CENTER OF NORTH TEXAS INC
    101 SUMMIT AVE 612
    FORT WORTH,TX76102     		NONE PUBLIC CHARITY PROGRAM SUPPORT 20,000
    ALZHEIMERS DISEASE & RELATED DISORDERS ASSOC INC
    2630 W FREEWAY STE 100
    FORT WORTH,TX76102     		NONE PUBLIC CHARITY PROGRAM SUPPORT 25,000
    BOTANICAL RESEARCH INST OF TEXAS INC
    1700 UNIVERSITY DR
    FORT WORTH,TX76107     		NONE PUBLIC CHARITY PROGRAM SUPPORT 5,000
    CENT TEXAS UNITED METHODIST HEALTHY CHURCH INITIATIVE
    464 BAILEY AVE
    FORT WORTH,TX76107     		NONE PUBLIC CHARITY PROGRAM SUPPORT 25,000
    Total .................................bullet 3a 760,185
    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     14 382  
    4 Dividends and interest from securities....     14 383,546  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....     14 854,090  
    8Gain or (loss) from sales of assets other than inventory     18 871,883  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aFEDERAL EXCISE TAX REFUND     01 5,639  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 2,115,540 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    132,115,540
    (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:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE 1,305 0   1,305

    TY 2010 AllOthProgRltdInvestmentsSch
    Name:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Category Amount
    N/A 0

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BLACKROCK HIGH YIELD BOND - 103886.3 SHS 811,352 804,080
    ISHARES BARCLAYS TIPS BOND FUND - 3878 SHS 403,408 429,062
    JPM HIGH YIELD FD - SEL FUND 3580 8.21% - 97877.13 SHS 759,458 802,592
    DREYFUS/LAUREL FDS TR PRM EMRGN MK I - 11107 SHS 155,942 167,716
    JPM STR INC OPP FD FUND 3844 2.64% - 23348.94 SHS 234,190 278,319
    JPM INTL CURRENCY INCOME FD 1.36% - 28516.18 SHS 309,216 331,928
    U S A BONDS 7 1/4% MAY 15 2016 DTD 5/15/86 - 150000 SHS 175,594 189,375
    SBC COMMUNICATIONS INC NOTES 5 7/8% AUG 15 2012 DTD 8/19/2002 - 30000 SHS 32,309 31,678
    VERIZON GLOBAL FUNDING CORP NOTES 7 3/8% SEP 1 2012 - 15000 SHS 16,369 16,132
    WELLS FARGO COMPANY NOTES 5% NOV 15 2014 DTD 11/6/2002 - 45000 SHS 42,336 48,578
    HOUSEHOLD FINANCE CORP NOTES 6 3/8% NOV 27 2012 DTD 11/27/2002 - 25000 SHS 24,196 26,746
    GOLDMAN SACHS GROUP INC NOTES 5 1/4% APR 1 2013 DTD 3/31/2003 - 45000 SHS 45,627 47,677
    FANNIE MAE 4 3/8% MAR 15 2013 DTD 3/28/2003 - 150000 SHS 161,631 159,975
    MORGAN STANLEY NOTES 4 3/4% APR 1 2014 DTD 3/30/2004 - 45000 SHS 45,193 46,908
    U S A NOTES 4.75% MAY 15 2014 DTD 5/15/2004 - 140000 SHS 147,257 155,870
    BRISTOL-MYERS SQUIBB NOTES 5 1/4% AUG 15 2013 DTD 2/15/2004 - 25000 SHS 25,855 27,323
    U S A NOTES 4 1/4% AUG 15 2014 DTD 8/15/2004 - 150000 SHS 152,255 165,785
    U S A NOTES 4% FEB 15 2015 DTD 2/15/2005 - 80000 SHS 90,450 88,175
    U S A NOTES 4 1/4% AUG 15 2015 DTD 8/15/2005 - 105000 SHS 114,856 117,215
    CITIGROUP INC SENIOR NOTES 5.3% JAN 7 2016 DTD 12/8/2005 - 45000 SHS 44,867 48,470
    CISCO SYSTEMS NOTES 5 1/2% FEB 22 2016 DTD 2/22/2006 - 20000 SHS 20,220 22,740
    ORACLE CORPORATION NOTES 5 1/4% JAN 15 2016 DTD 1/13/2006 - 20000 SHS 19,109 22,570
    FEDHOME LOAN BANK 5% DEC 21 2015 DTD 11/4/2005 - 30000 SHS 28,679 34,037
    BHP BILLITON FINANCE USA 5 1/4% DEC 15 2015 DTD 12/12/2005 - 20000 SHS 19,852 22,561
    PRAXAIR INC 3.95% JUN 1 2013 DTD 5/30/2003 - 25000 SHS 24,914 26,524
    FANNIE MAE NOTES 5% FEB 13 2017 DTD 1/12/2007 - 60000 SHS 57,826 68,508
    U S A NOTES 4 1/2% MAY 15 2017 DTD 5/15/2007 - 100000 SHS 100,955 113,469
    MERRILL LYNCH & CO MEDIUM TERM NOTE 6.05% AUG 15 2012 - 20000 SHS 20,034 21,054
    NOVARTIS SECS INVEST LTD 5 1/8% FEB 10 2019 DTD 02/10/2009 - 20000 SHS 20,742 22,209
    CATERPILLAR FIN SE MED TERM NOTE 7.15% FEB 15 2019 - 15000 SHS 17,022 18,507
    WYETH 5.45% APR 01 2017 DTD 03/27/2007 - 30000 SHS 29,963 34,344
    EATON CORP 6.95% MAR 20 2019 DTD 3/16/2009 - 20000 SHS 22,588 24,460
    TRANS-CANADA PIPELINES 4% JUN 15 2013 DTD 06/12/2003 - 10000 SHS 9,361 10,561
    BANK OF AMERICA CORP SR NOTES 7 5/8% JUN 01 2019 DTD 06/02/2009 - 25000 SHS 29,266 28,960
    FED HOME LN MTG CORP PARTN CTFS GROUP NBR E0-0727 6.50% - 2848.26 SHS 2,798 3,019
    FNMA GTD MTG PASS THRU CTF POOL NBR 0429718 6.50% DUE 04/01/2013 - 1141.47 S 1,153 1,191
    GNMA GTD PASS THRU CTF POOL NBR 486942X 6.00% DUE 02/15/2014 - 1938.65 SHS 1,951 2,126
    MEDTRONIC INC SR NT DTD 09/15/2005 4.75% DUE 09/15/2015 - 5000 SHS 4,726 5,553
    WESTPAC BANKING CORP NOTES 4 7/8% NOV 19 2019 DTD 11/19/2009 - 16000 SHS 15,989 16,642
    BLACKROCK INC 5% DEC 10 2019 DTD 12/10/2009 - 10000 SHS 9,949 10,630
    GE CAP CORP MEDIUM TERM NOTES 5 5/8% SEP 15 2017 - 30000 SHS 29,082 33,121
    BANK OF NOVA SCOTIA 3.4% JAN 22 2015 - 4000 SHS 3,995 4,202
    U S A NOTES 3 1/2% MAY 15 2020 DTD 05/15/2010 - 95000 SHS 96,696 99,178
    TOYOTA MTR CREDIT CP MED TERM NOTES 3.2% JUN 17 2015 - 10000 SHS 10,018 10,393
    SHELL INTERNATIONAL FIN 3.1% JUN 28 2015 DTD 06/28/2010 - 6000 SHS 5,996 6,271
    TOTAL CAPITAL SA 2.3% MAR 15 2016 DTD 09/15/2010 - 5000 SHS 5,054 4,996
    BB&T CORPORATION MTN 3.2% MAR 15 2016 DTD 03/07/2011 - 8000 SHS 7,989 8,184
    BP CAPITAL MARKETS PLC 4.742% MAR 11 2021 DTD 03/11/2011 - 10000 SHS 10,000 10,316
    CREDIT SUISSE FB USA INC NOTES 6 1/8% NOV 15 2011 DTD 11/6/2001 - 20000 SHS 20,583 20,398
    FHLMC NOTES 5 3/4% JAN 15 2012 DTD 1/14/2002 - 60000 SHS 62,289 61,799
    FANNIE MAE NOTES 4 5/8% OCT 15 2013 DTD 9/26/2003 - 105000 SHS 101,415 114,503
    FEDHOME LOAN BANK NOTES 5 1/2% AUG 13 2014 DTD 06/22/2007 - 80000 SHS 84,902 91,183
    U S A NOTES 4 1/8% AUG 31 2012 DTD 08/31/2007 - 90000 SHS 96,455 94,043
    ALLSTATE LF GLB FN TRST MED TERM NTS 5 3/8% APR 30 2013 - 30000 SHS 29,606 32,331
    U S A NOTES 3 3/4% NOV 15 2018 DTD 11/17/2008 - 180000 SHS 186,705 194,990
    SIMON PROPERTY GROUP LP SR NTS 10.35% APR 01 2019- 15000 SHS 20,917 20,763
    AFLAC INC SR NOTES 8 1/2% MAY 15 2019 DTD 05/21/2009 - 5000 SHS 6,384 6,115
    U S A NOTES 3 5/8% AUG 15 2019 DTD 08/15/2009 - 145000 SHS 144,822 154,493
    U S A NOTES 1 3/4% APR 15 2013 DTD 04/15/2010 - 270000 SHS 278,902 276,350
    EBAY INC 3 1/4% OCT 15 2020 DTD 10/28/2010 - 5000 SHS 4,705 4,664
    TRAVELERS COS INC SR NOTES 5.8% MAY 15 2018 DTD 05/13/2008 - 10000 SHS 8,858 11,206
    KEYCORP MEDIUM TERM NOTES 6 1/2% MAY 14 2013 DTD 05/14/2008 - 20000 SHS 19,271 21,763
    RIO TINTO FIN USA LTD NOTES 6 1/2% JUL 15 2018 DTD 06/27/2008 - 5000 SHS 5,786 5,840
    E.I. DU PONT DE NEMOURS SR NOTES 6% JUL 15 2018 DTD 07/28/2008 - 10000 SHS 10,160 11,540
    APACHE FINANCE CANADA 4 3/8% MAY 15 2015 DTD 05/15/2003 - 10000 SHS 10,377 10,830
    NATIONAL CITY CORP 4.9% JAN 15 2015 DTD 01/12/2005 - 35000 SHS 32,898 38,252
    NATIONAL RURAL UTIL CORP 10 3/8% NOV 01 2018 DTD 10/30/2008 - 10000 SHS 13,380 13,849
    AMERPRISE FINANCIAL INC 5.65% NOV 15 2015 DTD 11/23/2005 - 5000 SHS 5,733 5,643
    ACE INA HOLDINGS 5.8% MAR 15 2018 DTD 02/14/2008 - 10000 SHS 9,321 11,129
    TYCO INTERNATIONAL FINAN 8 1/2% JAN 15 2019 DTD 01/09/2009 - 5000 SHS 6,397 6,339
    PRINCIPAL LIFE INC FDG MED TERM NTE 5.3% APR 24 2013 - 10000 SHS 10,523 10,754
    CONOCOPHILLIPS NOTES 5 3/4% FEB 01 2019 DTD 02/03/2009 - 15000 SHS 16,404 17,250
    CME GROUP INC 5 3/4% FEB 15 2014 DTD 02/09/2009 - 10000 SHS 10,934 11,107

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES - 490 SHS 23,262 25,784
    ADOBE SYSTEMS INC - 400 SHS 13,807 12,580
    AMAZON COM INC - 175 SHS 25,822 39,876
    AMERICAN EXPRESS CO - 200 SHS 8,471 10,340
    APACHE CORP - 155 SHS 12,379 19,125
    APPLE INC. - 245 SHS 39,774 82,239
    BB & T CORP - 300 SHS 5,530 8,052
    BAKER HUGHES INC - 220 SHS 10,928 15,963
    BECTON DICKINSON & CO - 100 SHS 8,179 8,617
    CVS CAREMARK CORPORATION - 716 SHS 19,254 26,907
    CAMPBELL SOUP COMPANY - 300 SHS 10,814 10,365
    CARDINAL HEALTH INC - 500 SHS 14,384 22,710
    CELGENE CORPORATION - 325 SHS 16,992 19,604
    CISCO SYSTEMS INC - 990 SHS 15,601 15,454
    CITRIX SYSTEMS INC - 125 SHS 8,594 10,000
    COLGATE PALMOLIVE CO - 180 SHS 14,142 15,734
    WALT DISNEY CO - 700 SHS 15,120 27,328
    E I DU PONT DE NEMOURS & CO - 900 SHS 33,713 48,645
    E M C CORP MASS - 600 SHS 12,282 16,530
    EMERSON ELECTRIC CO - 120 SHS 6,492 6,750
    FIFTH THIRD BANCORP - 600 SHS 8,812 7,650
    FREEPORT-MCMORAN COPPER & GOLD INC CL B - 640 SHS 16,902 33,856
    GENERAL ELECTRIC CO - 800 SHS 12,241 15,088
    GENERAL MILLS INC - 400 SHS 13,324 14,888
    HUMANA INC - 195 SHS 14,347 15,705
    JOHNSON & JOHNSON - 500 SHS 31,496 33,260
    JOHNSON CONTROLS INC - 1000 SHS 22,203 41,660
    KELLOGG CO - 100 SHS 4,862 5,532
    LAM RESEARCH CORP - 300 SHS 15,536 13,284
    LENNAR CORP - 400 SHS 6,635 7,260
    LOWES COMPANIES INC - 600 SHS 14,087 13,986
    MICROSOFT CORP - 2505 SHS 51,426 65,130
    MORGAN STANLEY - 381 SHS 7,688 8,767
    NIKE INC B - 225 SHS 14,277 20,246
    NORFOLK SOUTHERN CORP - 820 SHS 33,952 61,443
    NOVELLUS SYSTEMS INC - 150 SHS 5,126 5,421
    OCCIDENTAL PETROLEUM CORP - 390 SHS 28,014 40,576
    ORACLE CORP - 1100 SHS 25,481 36,201
    PACCAR INC - 550 SHS 18,627 28,100
    PEPSICO INC - 420 SHS 27,452 29,581
    PFIZER INC - 2200 SHS 31,454 45,320
    PROCTER & GAMBLE CO - 595 SHS 32,062 37,824
    QUALCOMM INC - 517 SHS 16,563 29,360
    ST JUDE MEDICAL INC - 200 SHS 9,914 9,536
    SCHLUMBERGER LTD - 525 SHS 43,675 45,360
    SPRINT NEXTEL CORP - 2600 SHS 11,010 14,014
    STAPLES INC - 600 SHS 12,218 9,480
    STATE STREET CORP - 300 SHS 12,920 13,527
    UNITED TECHNOLOGIES CORP - 525 SHS 28,739 46,468
    WILLIAMS COMPANIES INC - 300 SHS 9,253 9,075
    XILINX CORP - 600 SHS 17,859 21,882
    COGNIZANT TECHNOLOGY SOLUTIONS CORP CL A - 300 SHS 15,451 22,002
    SEMPRA ENERGY - 200 SHS 10,268 10,576
    WELLS FARGO & CO - 1500 SHS 38,491 42,090
    BANK OF AMERICA CORP - 1881 SHS 29,677 20,616
    CONSTELLATION ENERGY GROUP INC - 200 SHS 6,661 7,592
    GOLDMAN SACHS GROUP INC - 210 SHS 21,856 27,949
    DEVON ENERGY CORP - 225 SHS 14,902 17,732
    EOG RESOURCES INC - 260 SHS 22,211 27,183
    HONEYWELL INTERNATIONAL INC - 500 SHS 21,183 29,795
    TARGET CORP - 250 SHS 11,827 11,728
    UNITEDHEALTH GROUP INC - 300 SHS 11,270 15,474
    VERIZON COMMUNICATIONS INC - 943 SHS 31,493 35,108
    COACH INC - 300 SHS 11,170 19,179
    FLUOR CORP - 200 SHS 13,806 12,932
    GLOBAL PAYMENTS INC - 200 SHS 9,596 10,200
    US BANCORP DEL - 600 SHS 14,202 15,306
    DODGE & COX INTERNATIONAL STOCK - 5058.34 SHS 155,493 186,046
    ISHARES RUSSELL MIDCAP INDEX FUND - 2239 SHS 192,150 244,812
    3M CO - 240 SHS 21,238 22,764
    YUM BRANDS INC - 600 SHS 20,997 33,144
    ARTISAN INTL VALUE FUND - INV - 6499 SHS 152,597 185,351
    CENTERPOINT ENERGY INC - 700 SHS 11,240 13,545
    COMCAST CORP CL A - 500 SHS 8,491 12,670
    CARNIVAL CORPORATION - 400 SHS 14,697 15,052
    JPM LARGE CAP GROWTH FD - SEL FUND 3118 - 15266.91 SHS 340,605 340,605
    JPM US REAL ESTATE FD - SEL FUND 3037 - 21191.38 SHS 311,029 357,287
    JPM INTREPID AMERICA FD - SEL FUND 1206 - 7282.03 SHS 182,779 180,085
    JPM INTREPID VALUE FD - SEL FUND 1136 - 13603.32 SHS 340,627 332,193
    JPM MARKET EXPANSION INDEX FD - SEL FUND 3708 - 30187.7 SHS 242,407 349,272
    JPM ASIA 3 FD - SEL FUND 1134 - 4067.5 SHS 84,929 152,490
    VANGUARD MSCI EMERGING MARKETS ETF - 6740 SHS 313,493 327,699
    AT&T INC - 500 SHS 19,219 15,705
    CBS CORP CLASS B W/I - 330 SHS 9,045 9,402
    CAMERON INTERNATIONAL CORPORATION - 225 SHS 12,399 11,315
    T. ROWE PRICE OVERSEAS STOCK FUND - 75482.11 SHS 659,714 673,300
    CME GROUP INC CLASS A COMMON STOCK - 45 SHS 13,082 13,122
    EATON VANCE MUT FDS TR GLOBAL MACRO - I - 14297 SHS 148,260 145,258
    INVESCO LTD - 400 SHS 7,730 9,360
    GATEWAY FUND - Y - 6131.88 SHS 158,816 162,556
    SPDR GOLD TRUST - 616 SHS 70,711 89,937
    ACE LTD NEW - 270 SHS 14,559 17,771
    DEUTSCHE BK ARN SPX 9/19/11 - 200000 SHS 196,000 242,240
    TYCO INTERNATIONAL LTD - 400 SHS 15,609 19,772
    TIME WARNER INC NEW - 1600 SHS 44,181 58,192
    MERCK AND CO INC - 1350 SHS 44,997 47,642
    JPM RESEARCH MARKET NEUTRAL FD - SEL - 20720.91 SHS 322,730 315,372
    HIGHBRIDGE DYNAMIC COMM STRG FD -SEL - 10577.23 SHS 149,139 208,371
    NEXTERA ENERGY INC - 200 SHS 9,997 11,492
    BARC BREN ASIA BASKET 08/05/11 - 150000 SHS 148,500 178,575
    DB BREN SPX 08/29/11 - 200000 SHS 198,000 226,720
    GS GOLD CPN NOTE 10/07/11 5%CPN - 75000 SHS 74,250 83,963
    MATTHEWS PACIFIC TIGER INSTL FUND - 7172.04 SHS 137,814 173,492
    DB CONT BUFF EQ MID 11/23/11 - 300000 SHS 297,000 339,060
    BARC REN SPX 01/25/12 - 165000 SHS 163,350 173,745
    MS BREN EAFE 2/8/12 - 175000 SHS 173,250 180,014
    CS BREN EAFE 3/14/12 - 165000 SHS 163,350 165,380
    TE CONNECTIVITY LTD - 200 SHS 6,886 7,352
    CS MARKET PLUS SPX 9/24/12 - 250000 SHS 246,875 256,375
    COVIDIEN PLC NEW - 285 SHS 11,042 15,171
    CS BREN EAFE 05/02/12 - 175000 SHS 173,250 174,125
    CITIGROUP INC NEW - 780 SHS 32,257 32,479
    BROADCOM CORP CL A - 450 SHS 16,314 15,138
    JUNIPER NETWORKS INC - 775 SHS 17,759 24,413
    EXXON MOBIL CORP - 611 SHS 22,516 49,723
    METLIFE INC - 525 SHS 19,670 23,032
    DENDREON CORP - 300 SHS 10,677 11,832
    PRUDENTIAL FINANCIAL INC - 300 SHS 11,352 19,077
    CONOCOPHILLIPS - 400 SHS 18,755 30,076
    BIOGEN IDEC INC - 200 SHS 10,863 21,384
    VERIFONE SYSTEMS, INC. - 100 SHS 5,215 4,435
    BAIDU INC SPONS ADR - 110 SHS 10,125 15,414
    TD AMERITRADE HOLDING CORPORATION - 400 SHS 6,402 7,804
    MASTERCARD INC - CLASS A - 55 SHS 10,204 16,574
    GENERAL MOTORS CO - 610 SHS 20,882 18,520

    TY 2010 InvestmentsOtherSchedule2
    Name:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BLACKSTONE PARTNERS OFFSHORE FUND LTD - 685.59 SHS AT COST 750,000 803,052
    OCH-ZIFF OZOFII PRIVATE INVESTORS OFFSHORE LTD. - 6099.35 SHS AT COST 750,000 819,783

    TY 2010 OtherAssetsSchedule
    Name:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    MINERAL ASSETS 39 39 2,239,131


    TY 2010 OtherExpensesSchedule
    Name:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MINERAL PRODUCTION EXPENSES 21,360 21,360   0
    MINERAL FEES 50,444 50,444   0
    ADR EXPENSE 2 2   0


    TY 2010 OtherIncomeSchedule2
    Name:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    MINERAL ROYALTY INCOME 854,090 854,090 854,090
    FEDERAL EXCISE TAX REFUND 5,639   5,639


    TY 2010 OtherIncreasesSchedule
    Name:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Description Amount
    RETURN OF CAPITAL/NON-DIVIDEND DISTRIBUTION 5,336
    MUTUAL FUND FACTORING / TIMING ADJUSTMENTS 9,053


    TY 2010 TaxesSchedule
    Name:
    ADELINE & GEORGE MCQUEEN FOUNDATION R76921007
    EIN: 75-6014459
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COLORADO BACKUP WITHHOLDING 315 315   0
    STATE WITHHOLDING TAX 277 277   0
    ESTIMATED FEDERAL EXCISE TAX - CURRENT YEAR 66,982 0   0
    AD VALOREM TAXES 50,519 50,519   0
    STATE INCOME TAX - COLORADO 3,212 3,212   0
    MINERAL PRODUCTION TAXES 35,247 35,247   0
    FOREIGN TAX WITHHELD 1,952 1,952   0