Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2010
Open to Public Inspection
A For the calendar year, or tax year beginning 01-01-2010 and ending 12-31-2010
BCheck if applicable:
CName of organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
521 5TH AVE 10TH FL
 
Room/suite
City or town, state or country, and ZIP + 4
NEW YORK, NY10175
D Employer identification number

23-7025275
E Telephone number

G Gross receipts $ 6,604,468
F Name and address of principal officer:
MANUEL J CUTILLAS
PO BOX N 7776
LYFORD CAY,NASSAU  
BF
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
WWW.LYFORDCAYFOUNDATION.ORG
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1969
M State of legal domicile: NY
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: THE FOUNDATION SUPPORTS THE DEVELOPMENT OF THE BAHAMAS BY INVESTING RESOURCES DIRECTLY IN PHILANTHROPIC INITIATIVES INCLUDING POST SECONDARY EDUCATION, THE SUPPORT OF BAHAMIAN NON-PROFIT ORGANIZATIONS AND THE PREPARATION OF BAHAMIAN STUDENTS FOR POST SECONDARY OPPORTUNITIES.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) .... 3 27
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 27
5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) ... 5 0
6 Total number of volunteers (estimate if necessary) .... 6 3
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 44,596
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b 0
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 2,290,207 1,929,023
9 Program service revenue (Part VIII, line 2g) ......... 0 0
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... -533,309 1,156,980
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 46,511 54,996
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 1,803,409 3,140,999
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 1,555,933 4,163,207
14 Benefits paid to or for members (Part IX, column (A), line 4) .... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 217,276 282,787
16a Professional fundraising fees (Part IX, column (A), line 11e).... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet57,116    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 287,701 318,932
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 2,060,910 4,764,926
19 Revenue less expenses. Subtract line 18 from line 12...... -257,501 -1,623,927
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............ 21,346,304 22,250,874
21 Total liabilities (Part X, line 26)............ 431,710 1,513,364
22 Net assets or fund balances. Subtract line 21 from line 20 ..... 20,914,594 20,737,510
Part II
Signature Block
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 officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid Preparer's Use Only Preparer's
signatureBig Right Arrow 		Date
right pointing bullet image Preparer’s taxpayer identification number
(see instructions)
Firm’s name (or yours
if self-employed),
address, and ZIP + 4Big Right Arrow




 		EIN right pointing bullet image
Phone no. right pointing bullet image
May the IRS discuss this return with the preparer shown above? (see instructions) .........
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2010)
Form 990 (2010)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III . . . . . . . . . .
1
Briefly describe the organization’s mission: THE FOUNDATION'S PRIMARY MISSION IS TO SUPPORT THE DEVELOPMENT OF THE BAHAMAS THROUGH THE AWARDING OF SCHOLARSHIPS FOR POST SECONDARY EDUCATION AND TECHNICAL TRAINING, THE SUPPORT OF BAHAMIAN NON-PROFIT CHARITABLE ORGANIZATIONS TARGETING THE EMOTIONAL, EDUCATIONAL AND RECREATIONAL NEEDS OF CHILDREN AND YOUNG ADULTS, THE ENVIRONMENT AND OTHER PRESSING SOCIAL ISSUES, AND TO PROVIDING EFFECTIVE PROGRAMS THAT ENHANCE THE PREPARATION OF A LARGER NUMBER OF BAHAMIAN STUDENTS FOR POST SECONDARY OPPORTUNITIES AND THE CAREERS OF A GLOBALLY COMPETITIVE WORLD.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the exempt purpose achievements for each of the organization’s three largest program services by expenses.
Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 3,039,992 including grants of $ 3,039,992 ) (Revenue $   )
THE FOUNDATION PROVIDES GRANTS TO NOT-FOR-PROFIT ORGANIZATIONSTHAT IMPROVE THE HEALTH AND WELFARE OF THE COMMUNITIES THAT THEYSERVE. GRANTS TO 30 ORGANIZATIONS WERE MADE DURING THE YEAR TOTALING $3,039,992.
4b (Code:   ) (Expenses $ 807,215 including grants of $ 807,215 ) (Revenue $   )
THE FOUNDATION PROVIDES ACADEMIC, TECHNICAL AND VOCATIONALSCHOLARSHIPS TO COLLEGES, UNIVERSITIES AND OTHER EDUCATIONALINSTITUTIONS FOR DESERVING BAHAMIAN STUDENTS. 87 SCHOLARSHIPS WERE GRANTED TO 77 INSTITUTIONS DURING THE YEAR TOTALING $807,215.
4c (Code:   ) (Expenses $ 316,000 including grants of $ 316,000 ) (Revenue $   )
THE FOUNDATION PROVIDES ACADEMIC SCHOLARSHIPS TO DESERVINGSTUDENTS ENROLLED AT THE COLLEGE OF THE BAHAMAS. 118 SCHOLARSHIPS WERE GRANTED DURING THE YEAR TOTALING $316,000.
(Code:   ) (Expenses $ 218,574 including grants of $   ) (Revenue $   )
THESE ARE EXPENSES FOR SCHOLARSHIP ADMINISTRATION AND SPECIAL PROJECTS
4d Other program services. (Describe in Schedule O.)
(Expenses $ 218,574 including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet$ 4,381,781
Form 990 (2010)
Form 990 (2010)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule AClick to see attachment.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? Click to see attachment........
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II.........................
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part III........................
5
 
 
6
Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete
Schedule D, Part IClick to see attachment.......................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment....................
8
 
No
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IVClick to see attachment...................
9
 
No
10
Did the organization, directly or through a related organization, hold assets in term, permanent,or quasi-endowments? If “Yes,” complete Schedule D, Part VClick to see attachment
10
Yes
 
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
 
No
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.Click to see attachment
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
 
No
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
Yes
 
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
 
No
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, and program service activities outside the United States? If “Yes,” complete Schedule F, Part I......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II.. Click to see attachment
15
Yes
 
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III.. Click to see attachment
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
Form 990 (2010)
Form 990 (2010)
Page 4
Part IV
Checklist of Required Schedules (continued)
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
Did the organization attach its audited financial statement to this return? Note: All Form 990 filers that operate one or more hospitals must attach audited financial statements. .....
20b
 
 
21
Did the organization report more than $5,000 of grants and other assistance to governments and organizations in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III..... Click to see attachment
22
 
No
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................
23
 
No
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I...... Click to see attachment
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................ Click to see attachment
25b
 
No
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II........................... Click to see attachment
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor, or a grant selection committee member, or to a person related to such an individual? If “Yes,” complete Schedule L, Part III............... Click to see attachment
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV ......................... Click to see attachment
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV................... Click to see attachment
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV.. Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule M
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1.....................
34
 
No
35
Is any related organization a controlled entity within the meaning of section 512(b)(13)? .....
35
 
No
a
Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2...
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2...........
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2010)
Form 990 (2010)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V . . . . . . . . . .
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
3
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
0
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletBF , EI
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
No
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2010)
Form 990 (2010)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI . . . . . . . . . .
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year ..............
1a
27
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
27
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? ..
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Does the organization have members or stockholders? ................
6
 
No
7a
Does the organization have members, stockholders, or other persons who may elect one or more members of the governing body? .........................
7a
 
No
b
Are any decisions of the governing body subject to approval by members, stockholders, or other persons? ..
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Does the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” does the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with those of the organization? ....
10b
 
 
11a
Has the organization provided a copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Does the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Are officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ...........................
12b
Yes
 
c
Does the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this is done ....................
12c
Yes
 
13
Does the organization have a written whistleblower policy? ...............
13
Yes
 
14
Does the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
 
No
If "Yes" to line a or b, describe the process in Schedule O. (See instructions.)
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” has the organization adopted a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
NY
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you make these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
MAUREEN FRENCH MANAGING DIR
WEST BAY STREET
BF
(242) 362-4910
Form 990 (2010)
Form 990 (2010)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) MR MANUEL J CUTILLAS
CHAIRMAN
 7.00 X   X       0 0 0
(2) MR STUART W RAY
PRESIDENT
 7.00 X   X       0 0 0
(3) MR FRANK J CROTHERS
VICE PRESIDENT
 7.00 X   X       0 0 0
(4) MRS SARAH FARRINGTON
VICE PRESIDENT
 7.00 X   X       0 0 0
(5) MR BASIL P GOULANDRIS
VICE PRESIDENT
 7.00 X   X       0 0 0
(6) MR JEFFREY A EVERETT
TREASURER
 7.00 X   X       0 0 0
(7) MR ALEXANDER NEAVE
SECRETARY
 7.00 X   X       0 0 0
(8) MR E PARKER NEAVE
ASSISTANT SECRETARY
 7.00 X   X       0 0 0
(9) MR ANTHONY C ALLEN
DIRECTOR
 3.00 X           0 0 0
(10) MR PHILIPPE BONNEFOY
DIRECTOR
 3.00 X           0 0 0
(11) MRS LARITA BOREN
DIRECTOR
 3.00 X           0 0 0
(12) MRS JUDITH LOEB CHIARA
DIRECTOR - DECEASED
 3.00 X           0 0 0
(13) MRS NORMA T DANA
DIRECTOR
 3.00 X           0 0 0
(14) MRS DIANE DELANO
DIRECTOR
 3.00 X           0 0 0
(15) MR PETER G GOULANDRIS
DIRECTOR
 3.00 X           0 0 0
(16) MRS ALESSANDRA HOLOWESKO
DIRECTOR
 4.00 X           0 0 0
(17) THE HON LYNN HOLOWESKO SENATOR
DIRECTOR
 3.00 X           0 0 0
Form 990 (2010)
Form 990 (2010)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) MR WILLIAM T HUNTER JR
DIRECTOR
 3.00 X           0 0 0
(19) MRS NANCY KELLY
DIRECTOR
 3.00 X           0 0 0
(20) MR ARTHUR D LITTLE
DIRECTOR
 3.00 X           0 0 0
(21) MR YVES LOURDIN
DIRECTOR
 3.00 X           0 0 0
(22) MRS KYLIE A NOTTAGE
DIRECTOR
 3.00 X           0 0 0
(23) MRS BETTY ROBERTS
DIRECTOR
 7.00 X           0 0 0
(24) MR PAUL R SANDFORD
DIRECTOR
 3.00 X           0 0 0
(25) SIR ORVILLE TURNQUEST
DIRECTOR
 3.00 X           0 0 0
(26) MR PETER B VLASOV
DIRECTOR
 4.00 X           0 0 0
(27) MR HANS HERMAN HORN
DIRECTOR
 4.00 X           0 0 0
(28) MRS SUZANNAH H ROBINSONS
DIRECTOR
 3.00 X           0 0 0
(29) CHRISTOPHER BRADY
DIRECTOR - RESIGNED JUNE 2010
 3.00 X           0 0 0


1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 0 0 0
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 in reportable compensation from the organizationMediumBullet0
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
 
No
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 in compensation from the organization MediumBullet0
Form 990 (2010)
Form 990 (2010)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, gifts, grants and other similar amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e 70,000
f All other contributions, gifts, grants, and
similar amounts not included above1f 		1,859,023
g Noncash contributions included in lines 1a-1f:$  
h Total. Add lines 1a-1f.......MediumBullet 1,929,023
Program Service Revenue Business Code
2a
b
c
d
e
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet  
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 531,387     531,387
4 Income from investment of tax-exempt bond proceeds..MediumBullet        
5 Royalties............MediumBullet        
(i) Real (ii) Personal
6a Gross Rents    
b Less: rental expenses    
c Rental income or (loss)    
d Net rental income or (loss).......MediumBullet        
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 4,089,062  
b Less: cost or other basis and sales expenses 3,463,469  
c Gain or (loss) 625,593  
d Net gain or (loss)..........MediumBullet 625,593     625,593
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet      
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet        
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet        
Miscellaneous Revenue Business Code
11a ADMINISTRATIVE FEES 561,000 44,596   44,596  
b MISCELLANEOUS INCOME 900,099 10,400     10,400
c            
d All other revenue ....        
e Total. Add lines 11a–11d ......MediumBullet 54,996
12 Total revenue. See Instructions....MediumBullet 3,140,999 0 44,596 1,167,380
Form 990 (2010)
Form 990 (2010)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the U.S. See Part IV, line 21 726,707 726,707
2 Grants and other assistance to individuals in the U.S. See Part IV, line 22    
3 Grants and other assistance to governments, organizations, and individuals outside the U.S. See Part IV, lines 15 and 16 3,436,500 3,436,500
4 Benefits paid to or for members    
5 Compensation of current officers, directors, trustees, and key employees ....        
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....        
7 Other salaries and wages 240,878 162,462 59,140 19,276
8 Pension plan contributions (include section 401(k) and section 403(b) employer contributions) .... 12,162 8,220 3,030 912
9 Other employee benefits ....... 23,111 17,096 4,936 1,079
10 Payroll taxes ........... 6,636 4,174 1,975 487
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 27,661   27,661  
c Accounting ........... 85,680   85,680  
d Lobbying ...........        
e Professional fundraising. See Part IV, line 17..    
f Investment management fees ...... 40,641   40,641  
g Other .......... 39,091 657 29,103 9,331
12 Advertising and promotion .... 33,147 6,958 1,566 24,623
13 Office expenses ....... 31,651 10,715 19,678 1,258
14 Information technology ...... 18,765   18,765  
15 Royalties ..        
16 Occupancy ........... 26,832   26,832  
17 Travel ............ 2,400 1,998 252 150
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ......        
19 Conferences, conventions, and meetings .... 12,176 6,294 5,882  
20 Interest ...........        
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .....        
23 Insurance .............. 888   888  
24 Other expenses. Itemize expenses not covered above. (Expenses grouped together and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below.)
a
b
c
d
e
f All other expenses        
25 Total functional expenses. Add lines 1 through 24f 4,764,926 4,381,781 326,029 57,116
26 Joint costs. Check here MediumBullet if following
SOP 98-2 (ASC 958-720). Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation 		       
Form 990 (2010)
Form 990 (2010)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 75,110 1 45,253
2 Savings and temporary cash investments ....... 712,636 2 926,051
3 Pledges and grants receivable, net .........   3  
4 Accounts receivable, net .........   4  
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..........   5  
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6  
7 Notes and loans receivable, net .............   7  
8 Inventories for sale or use ..............   8  
9 Prepaid expenses and deferred charges ............ 6,474 9 6,474
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a  
b Less: accumulated depreciation. ..... 10b     10c  
11 Investments—publicly traded securities .......... 20,515,776 11 20,173,878
12 Investments—other securities. See Part IV, line 11 ......   12 1,054,622
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets .........   14  
15 Other assets. See Part IV, line 11 ........... 36,308 15 44,596
16 Total assets. Add lines 1 through 15 (must equal line 34)... 21,346,304 16 22,250,874
Liabilities 17 Accounts payable and accrued expenses . 82,447 17 78,064
18 Grants payable .......... 349,263 18 1,435,300
19 Deferred revenue ..........   19  
20 Tax-exempt bond liabilities ..........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities. Complete Part X of Schedule D.....   25  
26 Total liabilities. Add lines 17 through 25..... 431,710 26 1,513,364
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets ..... 19,332,347 27 18,999,600
28 Temporarily restricted net assets ..... 1,582,247 28 1,737,910
29 Permanently restricted net assets .....   29  
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds .....   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ..... 20,914,594 33 20,737,510
34 Total liabilities and net assets/fund balances ..... 21,346,304 34 22,250,874
Form 990 (2010)
Form 990 (2010)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI . . . . . . . . . .
1
Total revenue (must equal Part VIII, column (A), line 12) . . .
1
3,140,999
2
Total expenses (must equal Part IX, column (A), line 25) . . . . .
2
4,764,926
3
Revenue less expenses. Subtract line 2 from line 1 . . . .
3
-1,623,927
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . .
4
20,914,594
5
Other changes in net assets or fund balances (explain in Schedule O) . . . .
5
1,446,843
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) . . . . . .
6
20,737,510
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII . . . . . . . . . .
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?..
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O............................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
 
No
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
 
 
Form 990 (2010)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section
4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON
Employer identification number

23-7025275
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
f
g
(i) a person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the the supported organization? ................
11g(i)
 
 
(ii) a family member of a person described in (i) above? ......................
11g(ii)
 
 
(iii) a 35% controlled entity of a person described in (i) or (ii) above? ................
11g(iii)
 
 
h
(i)
Name of supported organization 		(ii)
EIN 		(iii)
Type of organization (described on lines 1- 9 above or IRC section (see instructions)) 		(iv)
Is the organization in col. (i) listed in your governing document? 		(v)
Did you notify the organization in col. (i) of your support? 		(vi)
Is the organization in col. (i) organized in the U.S.? 		(vii)
Amount of support?
Yes No Yes No Yes No
Total                  

For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 2
Part II
Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .... 1,345,557 1,963,297 1,876,641 2,290,207 1,929,023 9,404,725
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3.. 1,345,557 1,963,297 1,876,641 2,290,207 1,929,023 9,404,725
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..           1,692,755
6 Public Support. Subtract line 5 from line 4.           7,711,970
Section B. Total Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
7 Amounts from line 4.. 1,345,557 1,963,297 1,876,641 2,290,207 1,929,023 9,404,725
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. 532,390 770,503 512,014 523,307 531,387 2,869,601
9 Net income from unrelated business activities, whether or not the business is regularly carried on..       6,487   6,487
10 Other income. (Explain in Part IV.) Do not include gain or loss from the sale of capital assets.. 19,106     10,203 10,400 39,709
11 Total support (Add lines 7 through 10).           12,320,522
12
12
 
13
Section C. Computation of Public Support Percentage
14
14
62.590 %
15
15
63.780 %
16a
b
17a
b
18
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 3
Part III
Support Schedule for Organizations Described in IRC 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public Support (Subtract line 7c from line 6.)            
Section B. Total Support
Calendar year (or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.)            
13 Total support (Add lines 9, 10c, 11 and 12.).            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 4
Part IV
Supplemental Information. Supplemental Information. Complete this part to provide the explanation required by Part II, line 10; Part II, line 17a or 17b; or Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Explanation
SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME
 
 
 
Schedule A (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
OMB No. 1545-0047
2010
Name of organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON
Employer identification number

23-7025275
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule—
Special Rules
......................... Arrow Bullet   $    
Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part I
Name of organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON 		Employer identification number

23-7025275
Part I
Contributors (see Instructions)
     
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

     
RESTRICTED
RESTRICTED  
RESTRICTED, RESTRICTED   RESTRICTED

$RESTRICTED




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part II
Name of organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON 		Employer identification number

23-7025275
Part II
Noncash Property (see Instructions)
     
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part III
Name of organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON 		Employer identification number

23-7025275
Part III
Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Additional Data


Software ID:  
Software Version:  
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11, or 12.
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON
Employer identification number

23-7025275
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......    
2 Aggregate contributions to (during year) ...    
3 Aggregate grants from (during year) ...    
4 Aggregate value at end of year .......    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds may be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit. ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a–2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06 ........ 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the taxable year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116, not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116, to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance .... 1,582,247 1,361,958  
b Contributions ........      
c Investment earnings or losses ... 224,413 297,789  
d Grants or scholarships ..... 68,750 77,500  
e Other expenditures for facilities
and programs ........ 		     
f Administrative expenses ....      
g End of year balance ...... 1,737,910 1,582,247  
2
Provide the estimated percentage of the year end balance held as:
a
Board designated or quasi-endowment: SchDMd Bullet100.000 %
b
Permanent endowment: SchDMd Bullet  
c
Term endowment: SchDMd Bullet  
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
No
(ii) related organizations ........................
3a(ii)
 
No
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Investments—Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of investment (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................      
b Buildings ................        
c Leasehold improvements ............        
d Equipment ................        
e Other .................        
Total. Add lines 1a-1e. (Column (d) should equal Form 990, Part X, column (B), line 10(c).)........SchDMdBullet 0
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
Other








Total. (Column (b) should equal Form 990, Part X, col.(B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Amount
Federal Income Taxes  








Total. (Column (b) should equal Form 990, Part X, col.(B) line 25.)Small Bullet  
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1 3,140,999
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2 4,764,926
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3 -1,623,927
4 Net unrealized gains (losses) on investments .......................... 4 1,446,843
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV) ................................. 8  
9 Total adjustments (net). Add lines 4 - 8 ............................. 9 1,446,843
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10 -177,084
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1 4,587,843
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a 1,446,843
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV): ............ 2d 1
e Add lines 2a through 2d ..................... 2e 1,446,844
3 Subtract line 2e from line 1..................... 3 3,140,999
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIV): ........... 4b  
c Add lines 4a and 4b....................... 4c 0
5 Total Revenue. Add lines 3 and 4c. (This should equal Form 990, Part I, line 12.) ...... 5 3,140,999
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1 4,764,926
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIV): ............ 2d  
e Add lines 2a through 2d...................... 2e 0
3 Subtract line 2e from line 1..................... 3 4,764,926
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIV): ............ 4b  
c Add lines 4a and 4b....................... 4c 0
5 Total expenses. Add lines 3 and 4c. (This should equal Form 990, Part I, line 18.) ...... 5 4,764,926
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE LYFORD CAY FOUNDATON HAS TWO BOARD DESIGNATED ENDOWMENT FUNDS. BOTH ENDOWMENT FUNDS ARE INTENDED TO PROVIDE SCHOLARSHIPS TO BAHAMIAN STUDENTS SEEKING HIGHER EDUCATION. (1)EXCELLENCE SCHOLARSHIP FUND - PROVIDES ANNUAL ACADEMIC SCHOLARSHIPS OF UP TO $10,000, WHICH ARE RESERVED FOR EXCEPTIONAL BAHAMIAN STUDENTS ENROLLED IN COLLEGE AND UNIVERSITIES IN THE USA OR CANADA WHOSE PARTICULAR FIELD OF STUDY IS EXPECTED TO CONTRIBUTE SIGNIFICANTLY TO THE BETTERMENT OF THE BAHAMAS. THE SCHOLARSHIP IS BASED ON A SELECTED DISCIPLINE, RECIPIENTS ARE REQUIRED TO CONTINUE IN THEIR APPROVED MAJOR THROUGHOUT THE DURATION OF THE SCHOLARSHIP. THE FOLLOWING FIELDS OF STUDY ARE ELIGIBLE FOR AWARDS: AGRICULTURE, ENGINEERING, ARCHITECTURE, ECONOMICS, MARINE DESIGN/CONSTRUCTION, MANUFACTURING SYSTEMS, AND EDUCATION. RECIPIENTS MUST CONTRIBUTE AT LEAST 12.5% OF THE TOTAL COST OF THEIR EDUCATION AND MAY APPLY A GRANT OR SCHOLARSHIP FROM THE COLLEGE TOWARD THE REMAINING CONTRIBUTORY FUNDS REQUIREMENT. DISBURSEMENT FROM THE FUND ARE LIMITED TO $30,000 PER YEAR PLUS 9% OF THE CONTRIBUTIONS ADDED TO THE CAPITAL OF THE FUND. THE FUND MUST BE INVESTED IN NOT LESS THAN 50% EQUITIES AND/OR MUTUAL FUNDS HAVING PUBLIC TRADE IN THE US OR CANADA. (2)HAROLD W. SIEBENS TECHNICAL SCHOLARSHIP FUND: PROVIDES ANNUAL SCHOLARSHIP OF $7,500 EACH TOWARDS THE TUITION OF BAHAMIAN STUDENTS ENROLLING IN CAREER SCHOOLS AND COLLEGES OF TECHNOLOGY OUTSIDE THE COMMONWEALTH OF THE BAHAMAS. ELIGIBLE RECIPIENTS MUST PROVIDE PROOF OF ACADEMIC PROFICIENCY, FINANCIAL NEED, PERSONAL QUALITIES (INTEREST, SERIOUSNESS OF PURPOSE, DETERMINATION, COMMITMENT, LEADERSHIP, COMMUNITY INVOLVEMENT), QUALITY OF THE PROPOSED SCHOOL OR COLLEGE, AND APPROPRIATENESS OF THE PROJECTED FIELD OF STUDY WHICH MUST BE VALUABLE IN SERVING THE NEEDS OF THE BAHAMAS INCLUDING FIELDS OF STUDY SUCH AS AGRICULTURE & FISHERIES, AIR CONDITIONING AND REFRIGERATION, AUTOMOTIVE, MARINE AND AVIATION MECHANICS, CONSTRUCTION AND RELATED TRADES, HEAVY EQUIPMENT OPERATION, MACHINE SHOP, COMPUTER SERVICE TECHNOLOGY, HOSPITALITY AND TOURISM, AND HEALTH CARE TECHNOLOGY. DISTRIBUTION FROM THE HAROLD W. SIEBENS TECHNICAL SCHOLARSHIP FUND IS UP TO AN AMOUNT EQUAL TO THE LESSER OF (A) 25% OF THE VALUE OF ALL TECHNICAL SCHOLARSHIP AWARDS DURING EACH YEAR FROM SOURCES OTHER THAN THE HAROLD W. SIEBENS TECHNICAL SCHOLARSHIP FUND FOR TECHNICAL TRAINING OUTSIDE OF THE BAHAMAS; OR (B) 5% OF THE AVERAGE MARKET VALUE AT DECEMBER 31ST OF OF THE HAROLD W. SIEBENS TECHNICAL SCHOLARSHIP FUND OVER THE PREVIOUS THREE YEAR PERIOD.
DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: IN JULY 2006, THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED FINANCIAL INTERPRETATION (FIN) 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - AN INTERPRETATION OF FASB STATEMENT NO. 109, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE FINANCIAL STATEMENTS IN ACCORDANCE WITH FASB STATEMENT NO. 109, ACCOUNTING FOR INCOME TAXES. AS OF JULY 1, 2009, FASB LAUNCHED THE FASB ACCOUNTING STANDARDS CODIFICATION (ASC) THUS "FIN 48" IS NOW CLASSIFIED AS "ASC 740." ASC 740 PROVIDES THAT A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. INCOME TAX POSITIONS MUST MEET A MORE LIKELY-THAN-NOT RECOGNITION THRESHOLD AT THE EFFECTIVE DATE TO BE RECOGNIZED UPON THE ADOPTION OF ASC 740 AND IN SUBSEQUENT PERIODS. THIS INTERPRETATION ALSO PROVIDES GUIDANCE ON MEASUREMENT, DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. FOR NON-PUBLIC ENTITIES, ASC 740 WAS EFFECTIVE FOR YEARS BEGINNING AFTER DECEMBER 15, 2007. FOR ELIGIBLE ENTERPRISES, INCLUDING NON-PROFIT ORGANIZATIONS, FSP FIN 48-3 DEFERRED THE EFFECTIVE DATE TO ANNUAL PERIODS BEGINNING AFTER DECEMBER 15, 2008. ALTHOUGH ASC 740 IS PRIMARILY DIRECTED AT TAXABLE BUSINESS ENTERPRISES, A TAX POSITION MAY INCLUDE THE CHARACTERIZATION OF INCOME AS TAX EXEMPT (RELATED OR EXCLUDED EXEMPT FUNCTION INCOME AS DESCRIBED IN IRC SECTION 512(A)-(B)) AND/OR TAXABLE AS UNRELATED BUSINESS INCOME UNDER IRC SECTION 511(A). FOR PRIVATE FOUNDATIONS, A TAX POSITION MAY ALSO INCLUDE THE CHARACTERIZATION OF INCOME AND EXPENSE AS NET INVESTMENT INCOME SUBJECT TO EXCISE TAX UNDER IRC SECTION 4940(A). LYFORD CAY FOUNDATION, INC. HAS ADOPTED ASC 740 EFFECTIVE THE TAX YEAR BEGINNING JANUARY 1, 2009. LYFORD CAY FOUNDATION, INC. HAS EVALUATED THE EFFECT OF THE STANDARD AND HAS DETERMINED THAT THE ADOPTION OF ASC 740 WILL HAVE NO SIGNFICANT IMPACT ON ITS FINANCIAL STATEMENTS. IN THE EVENT LYFORD CAY FOUNDATION, INC. WERE TO RECOGNIZE INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IT WOULD BE RECOGNIZED IN THE FINANCIAL STATEMENTS AS AN INCOME TAX EXPENSE. TAX YEARS 2007 THROUGH 2010 ARE OPEN TO EXAMINATION BY THE FEDERAL AND STATE TAXING AUTHORITIES, RESPECTIVELY. THERE ARE NO INCOME TAX EXAMINATIONS CURRENTLY IN PROCESS.
Schedule D (Form 990) 2010

Additional Data


Software ID:  
Software Version:  




SCHEDULE F
(Form 990)

Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,
Part IV, line 14b, 15, or 16.
Right pointing arrow large image Attach to Form 990. Right pointing arrow large image See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON
Employer identification number

23-7025275
Part I
General Information on Activities Outside the United States. Complete if the organization answered
“Yes” to Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of the grants or
assistance, the grantees' eligibility for the grants or assistance, and the selection criteria used to award
the grants or assistance? ...................................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of grant funds outside the
United States.
3
Activites per Region. (Use Part V if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees or agents in region or independent contractors (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total
expenditures for region/investments
in region
CENTRAL AMERICA/CARIBBEAN 1 4 FUNDRAISING, PROGRAM SEVICES, GRANTS TO RECIPIENTS LOCATED IN THE BAHAMAS   3,928,211
NORTH AMERICA     EDUCATIONAL SCHOLARSHIPS   72,508
EUROPEAN REGION     EDUCATIONAL SCHOLARSHIPS   37,500
NORTH AMERICA     INVESTMENTS   1,183,634
           
           
           
           
           
           
           
           
           
           
           
           
           
3a Sub-total .....   4 5,221,853
b Total from continuation sheets to Part I ...   0 0
c Totals (add lines 3a and 3b)   4 5,221,853
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990,
Part IV, line 15, for any recipient who received more than $5,000. Check this box if no one recipient received more than $5,000 ........ MediumBullet
Use Part V if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount of
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
CENTRAL AMERICA & THE CARIBBEAN FUNDING OF LUNCH & EDUCATION MATERIALS 40,450 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING THE HOLOWESKO LIBRARY 15,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING FOR SEMINAR SERIES FOR GUIDANCE COUNSELORS 5,500 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING FOR PROJECT POTCAKE 7,013 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUND FOR BREATHE EASY CAMPAIGN 42,797 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING FOR THE COB LIBRARY 2,500,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING IN MEMORY OF LADY TURNQUEST 75,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING FOR THE JANYNE HODDER STUDY ABROAD PROGRAM 10,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN SCHOLARSHIPS FOR NEEDY CHILDREN 10,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUND FOR THE SIZE MATTERS CAMPAIGN 10,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN PURCHASE OF BACK TO SCHOOL SUPPLIES 7,500 CHECK      
CENTRAL AMERICA & THE CARIBBEAN PROVISIONS FOR EQUIPMENT AND FOOD FOR THE FEEDING PROGRAM 17,500 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING FOR OPERATIONS 40,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN SCHOLARSHIPS FOR SPECIAL NEEDS CHILDREN 57,500 CHECK      
CENTRAL AMERICA & THE CARIBBEAN PARTIAL, NEEDS BASED SCHOLARSHIP PROGRAM 50,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING FOR PURCHASE OF NEW REFRIGERATOR AND WINDOW SCREENS 9,940 CHECK      
CENTRAL AMERICA & THE CARIBBEAN PROVISION WILL SUPPORT SUMMER CAMP PROGRAM 14,680 CHECK      
CENTRAL AMERICA & THE CARIBBEAN SUMMER YOUTH PROGRAM GENERAL SUPPORT 7,500 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING FOR THE PURCHASE OF COMPUTER LAB CHAIRS & A PRINTER/FAX 6,547 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDS FOR OUTREACH CENTRE 7,500 CHECK      
CENTRAL AMERICA & THE CARIBBEAN PURCHASE & TRAINING OF LITERACY SOFTWARE FOR AFTER SCHOOL PROGRAM 25,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN FUNDING FOR GENERAL OPERATING COSTS 7,500 CHECK      
EUROPEAN REGION EDUCATIONAL SCHOLARSHIPS 10,000 CHECK      
CENTRAL AMERICA & THE CARIBBEAN ACADEMIC SCHOLARSHIPS 316,000 CHECK      
EUROPEAN REGION EDUCATIONAL SCHOLARSHIPS 7,500        
NORTH AMERICA EDUCATIONAL SCHOLARSHIPS 19,796 CHECK      
CENTRAL AMERICA & THE CARIBBEAN ACADEMIC SCHOLARSHIPS 7,500 CHECK      
NORTH AMERICA EDUCATIONAL SCHOLARSHIPS 19,796 CHECK      
EUROPEAN REGION EDUCATIONAL SCHOLARSHIPS 20,000        
NORTH AMERICA EDUCATIONAL SCHOLARSHIPS 7,116 CHECK      
NORTH AMERICA EDUCATIONAL SCHOLARSHIPS 7,428 CHECK      
NORTH AMERICA EDUCATIONAL SCHOLARSHIPS 7,334 CHECK      
NORTH AMERICA EDUCATIONAL SCHOLARSHIPS 7,450 CHECK      
2
Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .....MediumBullet
0
3
Enter total number of other organizations or entities ........................MediumBullet
40
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Use Part V if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926 (see instructions for Form 926).................
2 Did the organization have an interest in a foreign trust during the tax year? If " Yes," the organization may be required to file Form 3520 and/or Form 3520-A. (see instructions for Forms 3520 and 3520-A)..........
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with respect to Certain Foreign Corporations. (see instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If "Yes," the organization may be required to file Form 8621, Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see instructions for Form 8621)
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with respect to Certain Foreign Partnerships. (see instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see instructions for Form 5713)................................................
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 5
Part V
Supplemental Information
Complete this part to provide the information (see instructions) required in Part I, line 2, and any additional information.
Identifier ReturnReference Explanation
PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.:   SCHEDULE F, PART I, LINE 2: GRANT RECIPIENTS MUST SATISFY THE FOLLOWING CRITERIA: - MUST BE A BAHAMIAN CITIZEN AND PROVIDE VERIFICATION - MUST BE ACCEPTED AT THE COLLEGE OR UNIVERSITY - MUST HAVE A MINIMUM GPA OF 3.0 OUT OF A POSSIBLE 4.0 OR EQUIVALENT - MUST SUBMIT A COMPLETE APPLICATION WITH ALL SUPPORTING DOCUMENTATION INCLUDING VERIFICATION OF FAMILY FINANCIAL RESOURCES, TWO LETTERS OF RECOMMENDATION, A CURRENT RESUME, TWO PERSONAL ESSAYS AND COPIES OF SCHOOL TRANSCRIPTS AND RELEVANT EXAMINATION RESULTS. GRANTS ARE MADE DIRECTLY TO EDUCATIONAL INSTITUTIONS (NOT TO INDIVIDUAL RECIPIENTS) TO ENSURE THAT THE FUNDS ARE USED FOR EDUCATIONAL PURPOSES.
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
Schedule F (Form 990) 2010
Additional Data


Software ID:  
Software Version:  



Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON
Employer identification number
23-7025275
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Governments and Organizations in the United States. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21 for any recipient that received more than $5,000. Check this box if no one recipient received more than $5,000. Use
Part IV and Schedule I-1 (Form 990) if additional space is needed ......................... lBullet
(a) Name and address of organization
or government		 (b) EIN (c) IRC Code section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) BARRY UNIVERSITY11300 NE 2ND AVENUE
MIAMI,FL331616695 		59-0624364 501(C)(3) 10,000       SCHOLARSHIP
(2) DEVRY UNIVERSITY2300 SW 145TH AVENUE
MIRAMAR,FL32901 		59-6046500 501(C)(3) 15,000       SCHOLARSHIP
(3) HILLSBOROUGH COMMUNITY COLLEGE4001 W TAMPA BAY BLVD
TAMPA,FL336147820 		59-1219841 501(C)(3) 7,500       SCHOLARSHIP
(4) JOHNSON & WALES UNIVERSITY1701 NE 127TH STREET
NORTH MIAMI,FL33181 		05-0306206 501(C)(3) 7,500       SCHOLARSHIP
(5) LINCOLN COLLEGE OF TECHNOLOGY2410 METROCENTRE BLVD
WEST PALM BEACH,FL33407 		59-2420433   10,000       SCHOLARSHIP
(6) MARINE MECHANICS INSTITUTE9715 DELEGATES DRIVE
ORLANDO,FL32837 		86-0226984   10,000       SCHOLARSHIP
(7) NEW ENGLAND INSTITUTE OF TECHNOLOGY39 NORTH BENNET STREET
BOSTON,MA02113 		59-2420433   7,500       SCHOLARSHIP
(8) NEW YORK INSTITUTE OF TECHNOLOGYOLD WESTBURY CAMPUS
OLD WESTBURY,NY115688000 		11-1788788 501(C)(3) 7,500       SCHOLARSHIP
(9) NORTHWEST ARKANSAS COMMUNITY COLLEGEONE COLLEGE DRIVE
BENTONVILLE,AR727125091 		71-0685540 501(C)(3) 7,500       SCHOLARSHIP
(10) ROCHESTER INSTITUTE OF TECHNOLOGY60 LOMB MEMORIAL DRIVE
ROCHESTER,NY14623 		16-0743140 501(C)(3) 7,500       SCHOLARSHIP
(11) SEMINOLE STATE COLLEGE OF FLORIDA100 WELDON BOULEVARD
SANFORD,FL32773 		59-1210168 501(C)(3) 7,500       SCHOLARSHIP
(12) TEXAS SOUTHERN UNIVERSITY3100 CLEBURNE AVENUE
HOUSTON,TX77004 		52-2117007 501(C)(3) 15,000       SCHOLARSHIP
(13) UNIVERSAL TECHNICAL INSTITUTE721 LOCKHAVEN DRIVE
HOUSTON,TX770735515 		86-0226984   7,500       SCHOLARSHIP
(14) UNIVERSITY OF TEXAS1515 HOLCOMBE BOULEVARD
HOUSTON,TX770304009 		50-6506506 501(C)(3) 10,000       SCHOLARSHIP
(15) GEORGE T BAKER AVIATION SCHOOL3275 NW 42ND AVENUE
MIAMI,FL33142 		59-6000572 501(C)(3) 17,500       SCHOLARSHIP
(16) ITT TECHNICAL INSTITUTE3401 SOUTH UNIVERSITY DRIVE
FT LAUDERADALE,FL33760 		36-2011311   15,000       SCHOLARSHIP
(17) MIAMI DADE COLLEGE950 NW 20TH STREET
MIAMI,FL33181 		59-6169745 501(C)(3) 15,000       SCHOLARSHIP
(18) WYOMING TECHNICAL INSTITUE4373 NORTH 3RD STREET
LARAMIE,WY82072 		83-0301912   10,000       SCHOLARSHIP
(19) SOUTHERN UNION STATE COMMUNITY COLLEGEOPELIKA CAMPUS 1701 WELDON
BOULEVARD
SANFORD,AL36801 		63-0494681 501(C)(3) 7,500       SCHOLARSHIP
(20) FLORIDA INSTITUTE OF TECHNOLOGY150 W UNIVERSITY BLVD
MELBOURNE,FL32901 		59-6046500 501(C)(3) 7,500       SCHOLARSHIP
(21) DAYTONA STATE COLLEGE1200 W INTERNATIONAL SPEEDWAY BLVD
DAYTONA BEACH,FL32114 		59-1211226   15,000       SCHOLARSHIP
(22) UNIVERSITY OF NORTH CAROLINA AT CHARLOTTE9201 UNIVERSITY CITY BLVD
CHARLOTTE,NC282230001 		56-0791228 501(C)(3) 10,000       SCHOLARSHIP
(23) STATE UNIVERSITY OF NEW YORK MARITIME COLLEGE6 PENNYFIELD AVENUE
THROGS NECK,NY104654198 		51-0180576 501(C)(3) 10,000       SCHOLARSHIP
(24) CLARKSON UNIVERSITYPO BOX 5610
POTSDAM,NY13699 		15-0543659 501(C)(3) 10,000       SCHOLARSHIP
(25) CAPE ELEUTHERA FOUNDATIONPO BOX 5910
PRINCETON,NJ08543 		31-1591503 501(C)(3) 45,000       SCHOLARSHIP
(26) ALBION COLLEGE611 EAST PETER STREET
ALBIO,MI49224 		38-1359081 501(C)(3) 15,000       SCHOLARSHIP
(27) BELOIT COLLEGE700 COLLEGE STREET
BELOIT,WI535115595 		39-0808497 501(C)(3) 7,500       SCHOLARSHIP
(28) BEULAH HEIGHTS UNIVERISTY892 BERNE STREET SE PO BOX 18145
ATLANTA,GA30316 		58-6055244 501(C)(3) 7,500       SCHOLARSHIP
(29) BROWN UNIVERSITYBOX 1876
PROVIDENCE,RI029121876 		05-0258809 501(C)(3) 35,000       SCHOLARSHIP
(30) BRYANT UNIVERSITY1150 DOUGLAS PIKE
SMITHFIELD,RI029171287 		05-0258810 501(C)(3) 7,500       SCHOLARSHIP
(31) CALIFORNIA MARITIME ACADEMY200 MARITIME ACADEMY DRIVE
VALLEJO,CA94590 		68-0316355 501(C)(3) 7,500       SCHOLARSHIP
(32) CARNEGIE MELLOW UNIVERSITY5000 FORBES AVE
PITTSBURGH,PA15213 		25-0969449 501(C)(3) 7,500       SCHOLARSHIP
(33) CLARK ATLANTA UNIVERSITY223 JASMES P BRAWLEY ROAD
ATLANTA,GA30314 		58-1825259 501(C)(3) 7,500       SCHOLARSHIP
(34) DREXEL UNIVERSITY3201 ARCH STREET
PHILADELPHIA,PA19104 		23-1352630 501(C)(3) 37,790       SCHOLARSHIP
(35) YALE UNIVERSITYPO BOX 208365
NEW HAVEN,CT065208365 		06-0646973 501(C)(3) 10,000       SCHOLARSHIP
(36) DUQUESNE UNIVERSITY600 FORBES AVE
PITTSBURGH,PA15282 		25-1035663 501(C)(3) 7,500       SCHOLARSHIP
(37) EMORY UNIVERSITYBOISFEUILLET JONES CENTRE
ATLANTA,GA30322 		58-0566256 501(C)(3) 7,500       SCHOLARSHIP
(38) ELMIRA COLLEGEONE PARK PLACE
ELMIRA,NY14901 		16-0743996 501(C)(3) 7,500       SCHOLARSHIP
(39) EMBRY-RIDDLE AERONAUTICAL UNIVERSITY600 SOUTH CLYDE MORRIS BLVD
DAYTONA BEACH,FL32114 		59-0936101 501(C)(3) 15,000       SCHOLARSHIP
(40) FLORIDA INTERNATIONAL UNIVERSITYUNIVERSITY PARK CAMPUS
MIAMI,FL33199 		23-7047106 501(C)(3) 7,500       SCHOLARSHIP
(41) FLORIDA MEMORIAL UNIVERSITY15800 NW 42ND AVENUE
MIAMI GARDENS,FL33054 		59-0668483 501(C)(3) 7,500       SCHOLARSHIP
(42) GEORGIA INSTITUTE OF TECHNOLOGY225 NORTH AVENUE
ATLANTA,GA303320255 		58-6002023 501(C)(3) 35,000       SCHOLARSHIP
(43) ITHACA COLLEGE100 JOB HALL
ITHACA,NY148507020 		15-0532204 501(C)(3) 7,500       SCHOLARSHIP
(44) KETTERING UNIVERSITY1700 WEST THIRD AVENUE
FLINT,MI485044898 		38-2410852 501(C)(3) 15,000       SCHOLARSHIP
(45) MONROE COLLEGE434 MAIN STREET
NEW ROCHELLE,NY10801 		13-2501225 501(C)(3) 7,500       SCHOLARSHIP
(46) OHIO STATE UNIVERSITYENARSON HALL 154 W 12TH AVE
COLUMBUS,OH43210 		31-1145986 501(C)(3) 7,500       SCHOLARSHIP
(47) PLATTSBURGH STATE UNIVERSITY101 BROAD STREET
PLATTSBURGH,NY129012681 		14-1484644 501(C)(3) 7,500       SCHOLARSHIP
(48) TAYLOR UNIVERSITY236 W READE AVENUE
UPLAND,IN469891001 		35-0868181 501(C)(3) 7,500       SCHOLARSHIP
(49) TRINITY UNIVERSITYONE TRINITY PLACE
SAN ANTONIO,TX782127200 		74-1109633 501(C)(3) 7,500       SCHOLARSHIP
(50) TUFTS UNIVERSITY28 CAPNE STREET
MEDFORD,MA02155 		04-2103634 501(C)(3) 7,500       SCHOLARSHIP
(51) TUSKEGEE312 MILBANK
TUSKEGEE,AL36088 		63-0288878 501(C)(3) 7,500       SCHOLARSHIP
(52) UNIVERSITY OF HOUSTONCONRAD N HILTON COLLEGE 4361
WHEELER ST RM303
HOUSTON,TX77004 		20-1542435 501(C)(3) 7,500       SCHOLARSHIP
(53) UNIVERSITY OF MIAMIPO BOX 248025
CORAL GABLES,FL331242230 		59-0624458 501(C)(3) 7,500       SCHOLARSHIP
(54) UNIVERSITY OF MISSOURIROLLIN STREET
COLUMBUS,MO65211 		43-1143471 501(C)(3) 7,500       SCHOLARSHIP
(55) UNIVERSITY OF SOUTH FLORIDA4202 EFOWLER AVENUE
TAMPA,FL33620 		59-3102112 501(C)(3) 7,500       SCHOLARSHIP
(56) UNIVERSITY OF TAMPA401 WKENNEDY BLVD
TAMPA,FL33606 		59-0624459 501(C)(3) 15,000       SCHOLARSHIP
(57) UNIVERSITY OF PACIFIC3601 PACIFIC AVE
STOCKTON,CA95211 		94-1156266 501(C)(3) 35,000       SCHOLARSHIP
(58) VANDERCOOK COLLEGE OF MUSIC3140 SOUTH FEDERAL STREET
CHICAGO,IL606163731 		36-2539399 501(C)(3) 18,667       SCHOLARSHIP
(59) VIRGINIA COMMONWEALTH UNIVERSITY900 EAST MAIN STREET
RICHMOND,VA23284 		54-6001758 501(C)(3) 7,500       SCHOLARSHIP
2
Enter total number of section 501(c)(3) and government organizations ......................... Bullet Image
58
3
Enter total number of other organizations ................................ . Bullet Image
7
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2010

Schedule I (Form 990) 2010
Page 2
Part III
Grants and Other Assistance to Individuals in the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Use Schedule I-1 (Form 990) if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance













Part IV
Supplemental Information. Complete this part to provide the information required in Part I, line 2, and any other additional information.
Identifier Return Reference Explanation
PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE LYFORD CAY FOUNDATION MONITORS THE GRANTS IT MAKES TO SCHOLARSHIP RECIPIENTS BY REMITTING THE SCHOLARSHIP FUNDS DIRECTLY TO THE INSTITUTION OF HIGHER LEARNING. NO FURTHER FOLLOW-UP IS REQUIRED AS THE SCHOLARSHIP GRANT IS AUTOMATICALLY APPLIED AGAINST THE STUDENT TUITION SCHOLARSHIP CRITERIA: 1) MUST BE BAHAMIAN CITIZEN AND PROVIDE VERIFICATION; 2) REMAINING CANDIDATE SELECTION IS WEIGHTED AS FOLLOWS ACADEMIC MERIT 35% FINANCIAL NEED- 35% CALIBER OF PROPOSED COLLEGE OR UNIVERSITY 10% FIELD OF STUDY- 10% CANDIDATES PERSONAL QUALITIES- 10%; 3) PRIORITY IS GIVEN TO FIELDS OF STUDY CONSIDERED MOST VALUABLE IN SERVING THE ECONOMIC AND SOCIAL NEEDS OF THE BAHAMAS; 4) FINANCIAL RESOURCES ARE CONSIDERED INCLUDING THE COST OF ATTENDANCE AT THE PROPOSED COLLEGE OR UNIVERSITY AND OTHER SCHOLARSHIP AWARDS AND GRANTS RECEIVED BY THE APPLICANT; 5) THE CALIBER OF THE INSTITUTION OF CHOICE; AND 6) THE CANDIDATE'S PERSONAL QUALITIES INCLUDING HIS OR HER LEADERSHIP SKILLS, LEVEL OF COMMITMENT TO THE COMMUNITY, ABILITY TO THINK CLEARLY ABOUT PERSONAL STRENGTHS AND GOALS, MOTIVATION AND THE POTENTIAL TO SUCCEED IN COLLEGE. AN INDEPENDENT SCREENING COMMITTEE OF LOCAL PROFESSIONALS IS RESPONSIBLE FOR MAKING RECOMMENDATIONS ON CANDIDATES TO RECEIVE SCHOLARSHIPS OR TO QUALIFY FOR SCHOLARSHIP RENEWALS. RECIPIENTS ARE ALSO REQUIRED TO SUBMIT AN OFFICIAL TRANSCRIPT SHOWING THAT THEY HAVE MAINTAINED THE MINIMUM GPA REQUIREMENTS FOR THEIR SCHOLARSHIP TYPE. (E.G., UNDERGRADUATE 3.0, GRADUATE 3.5 AND TECHNICAL AND VOCATIONAL 2.75). RECIPIENTS ARE ALSO REQUIRED TO SUBMIT A WRITTEN PERSONAL EVALUATION OF THEIR ACADEMIC YEAR, TO COMPLETE 20 HOURS OF VOLUNTEER COMMUNITY SERVICE, AND TO COMPLETE ON AN ANNUAL BASIS A COST OF ATTENDANCE FORM DETAILING THEIR EDUCATIONAL EXPENSES, OTHER SCHOLARSHIP AWARDS AND GRANTS, ETC. GRANTS ARE MADE ON THE UNDERSTANDING THAT THE RECIPIENT WILL RETURN TO LIVE AND WORK IN THE BAHAMAS WHEN HIS OR HER EDUCATION HAS BEEN COMPLETED.
Schedule I (Form 990) 2010


Additional Data


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Software Version:  


Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V lines 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBulletSee separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON
Employer identification number

23-7025275
Part I
Excess Benefit Transactions (section 501(c)(3) and section 501 (c)(4) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Description of transaction (c) Corrected?
Yes No





2
Enter the amount of tax imposed on the organization managers or disqualified persons during the year under section 4958. ......................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 26, or Form 990-EZ, Part V, line 38a.
(a) Name of interested person and purpose (b) Loan to or from the organization? (c)Original principal amount (d)Balance due (e) In default? (f) Approved by board or committee? (g)Written agreement?
To From Yes No Yes No Yes No
Total ...............Small Bullet $  
Part III
Grants or Assistance Benefitting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b)Relationship between interested person and the organization (c)Amount of grant or type of assistance
For Privacy Act and Paperwork Reduction Act Notice, see the
Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2010
Schedule L (Form 990 or 990-EZ) 2010
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) ALEXANDER NEAVE SECRETARY 20,423 SEE BELOW   No
(2) E PARKER NEAVE ASSISTANT SECRETARY 20,423 SEE BELOW   No
Part V
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule L (see instructions).
Identifier Return Reference Explanation
SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS   (A) NAME OF PERSON: ALEXANDER NEAVE(D) DESCRIPTION OF TRANSACTION: ALEXANDER NEAVE, PARTNER IN THE LAW FIRM OF PUTNEY, TWOMBLY, HALL & HIRSON WHICH PROVIDES LEGAL SERVICES TO THE FOUNDATION. IN 2010, THE TOTAL FEE PAID BY THE FOUNDATION TO THE LAW FIRM WAS $20,423.(A) NAME OF PERSON: E. PARKER NEAVE(D)DESCRIPTION OF TRANSACTION: E.PARKER NEAVE PARTNER IN THE LAW FIRM OF PUTNEY, TWOMBLY, HALL & HIRSON WHICH PROVIDES LEGAL SERVICES TO THE FOUNDATION. IN 2010, THE TOTAL FEE PAID BY THE FOUNDATION TO THE LAW FIRM WAS $20,423.
Schedule L (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  




SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
LYFORD CAY FOUNDATION INC
C/O PUTNEY TWOMBLY HALL & HIRSON
Employer identification number

23-7025275
Identifier Return Reference Explanation
NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 NEW PROGRAM SERVICES: 2010 SAW THE FOUNDATION TURN ITS ATTENTION TO A YOUNGER STUDENT POPULATION AND THE YEARS-LONG PROCESS THAT ULTIMATELY LEADS TO THE ATTAINMENT OF POST-SECONDARY DEGREES. FOCUS FORWARD & ONWARD TO COLLEGE. UPWARD TO SUCCESS. THE FOUNDATION LAID THE PROGRAMMATIC FRAMEWORK FOR THE 2011 LAUNCH OF FOCUS. FOCUS IS A FREE, 9 YEAR ACADEMIC DEVELOPMENT AND ENRICHMENT PROGRAM AIMED AT TRANSFORMING THE LIVES OF ITS PARTICIPANTS BY PROVIDING ACADEMIC SUPPORT, A WIDE RANGE OF EDUCATIONAL ACTIVITIES, COUNSELING AND MENTORING TO TALENTED YET UNDERSERVED PUBLIC SCHOOL STUDENTS IN GRADES 5 THROUGH 12 WHO ARE PERFORMING AT AVERAGE OR ABOVE AVERAGE LEVEL WITH THE POTENTIAL FOR HIGHER ACHIEVEMENT IN SCHOOL AND BEYOND IF PROVIDED WITH ADDITIONAL RESOURCES AND ASSISTANCE. FOCUS WILL PROVIDE 30 DAYS OF QUALITY AND ACADEMICALLY RIGOROUS SUMMER PROGRAMMING THROUGH ITS ACTION-PACKED SUMMER SLAM AND 15 DAYS OF SLAM SATURDAYS DURING THE SCHOOL YEAR THAT IS CENTERED ON EXTRA CLASS TIME IN CORE SUBJECTS, ONE-ON-ONE TUTORING, AND OUT-OF-CLASSROOM LEARNING OPPORTUNITIES. ADDITIONALLY, FOCUS AIMS TO INSPIRE HIGH ACHIEVING COLLEGE AND HIGH SCHOOL STUDENTS TO ENTER THE PROFESSION OF TEACHING BY PROVIDING UNIQUE STUDENT TEACHER INTERNSHIP OPPORTUNITIES. COLLEGE CONNECTION: COLLEGE CONNECTION AIMS TO RAISE AWARENESS WITHIN THE PUBLIC AND PRIVATE SCHOOLS AND THE COMMUNITY AT LARGE OF THE STEPS THAT NEED TO BE TAKEN TO PREPARE ALL BAHAMIAN STUDENT FOR COLLEGE ENTRY AND SUCCESS IN THE WORKPLACE BY PROVIDING SUPPORT AND TRAINING OPPORTUNITIES TO SCHOOL GUIDANCE COUNSELORS AND ADMINISTRATORS, ENHANCING AND INCREASING ACCESS TO INFORMATION AND RESOURCE MATERIALS ON COLLEGE AND CAREER PREPAREDNESS, AND TO THE LOWERING OF FINANCIAL BARRIERS TO HIGHER EDUCATION BY BRINGING AWARENESS TO THE LOCAL AND INTERNATIONAL FINANCIAL AID OPPORTUNITIES AVAILABLE FOR BAHAMIAN STUDENTS.
FORM 990, PART VI, SECTION A, LINE 2   BASIL GOULANDRIS - DIRECTOR - SON PETER G GOULANDRIS - DIRECTOR - FATHER SENATOR LYNN HOLOWESKO - DIRECTOR - MOTHER-IN-LAW ALESSANDRA HOLOWESKO - DIRECTOR - DAUGHTER-IN-LAW ALEXANDER NEAVE - SECRETARY - FATHER E PARKER NEAVE - ASSISTANT SECRETARY - SON NORMA DANA - DIRECTOR - STEP GRANDMOTHER ISABELLA RIDALL - DEVELOPMENT ASSISTANT - STEP GRANDDAUGHTER
FORM 990, PART VI, SECTION B, LINE 11   THE FORM 990 WAS REVIEWED IN DETAIL BY THE EXECUTIVE COMMITTEE PRIOR TO ITS FILING. THE ENTIRE BOARD RECEIVES A PDF OF THE FINAL FORM 990 PRIOR TO ITS FILING.
  FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, ALL MEMBERS, DIRECTORS, OFFICERS, AND EMPLOYEES ARE REQUIRED TO COMPLETE AN ACKNOWLEDGEMENT OF THE STATEMENT OF POLICY ON CONFLICTS OF INTEREST. THE MANAGING DIRECTOR IS RESPONSIBLE FOR COMPILING A LIST OF CONFLICTS DECLARED IN ACCORDANCE WITH THE PROCEDURE AND SUBMITS THE LIST TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE IS RESPONSIBLE FOR REVIEWING SUCH LIST AND MONITORING ITS COMPLIANCE. FOUNDATION MEMBERS, DIRECTORS, OFFICERS OR EMPLOYEES ARE ENCOURAGED TO PARTICIPATE IN THE DISCUSSION ON GRANTS TO ORGANIZATIONS TO WHICH THEY HAVE OFFICIAL AND DISCLOSED CONNECTIONS. HOWEVER, HE OR SHE MAY NOT VOTE AS A MEMBER OF THE BOARD OF DIRECTORS UPON ANY PROPOSED GRANT TO SUCH APPLICANTS. ALL CONFLICTS ARE TO BE NOTED IN THE MINUTES OF THE MEETING.
  FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE MEETS AT LEAST ONCE ANUALLY TO DISCUSS EMPLOYEE EVALUTATIONS AND COMPENSATION. MINUTES OR A MEMORANDUM OF THE MEETING SUMMARIZING THE DISCUSSIONS AND DECISION TAKEN ARE FILED WITH THE FOUNDATIONS'S PERMANENT RECORDS. TO ENSURE THAT THE COMPENSATION OF THE MANAGING DIRECTOR AND OTHER KEY EMPLOYEES IS APPROPRIATE AND CONSISTENT WITH THE MARKETPLACE, THE COMMITTEE WILL REVIEW OTHER RELIABLE BENCHMARK INFORMATION SUCH AS THE COUNCIL ON FOUNDATIONS' ANNUAL GRANTMAKERS SALARY AND BENEFITS REPORT.
  FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON BEING REQUESTED FROM THE ORGANIZATION.
CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,446,843.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2010

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