Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2010
For calendar year 2010, or tax year beginning 01-01-2010 , and ending 12-31-2010
G
Check all that apply:
Name of foundation
THE SMALLEY FOUNDATION
C/O ELLIN SMALLEY

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 1385   Room/suite
City or town, state, and ZIP code
BROOKLINE, MA02446
A Employer identification number

13-6225947
B Telephone number (see page 10 of the instructions)

(617) 527-2269
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$1,715,912J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 10,000
2 Check bullet
3 Interest on savings and temporary cash investments 5,980 596 5,980
4 Dividends and interest from securities...... 49,377 49,377 49,377
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 36,206
b Gross sales price for all assets on line 6a 1,149,262
7 Capital gain net income (from Part IV, line 2)...  
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 633 633 633
12 Total. Add lines 1 through 11........ 102,196 50,606 55,990
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 36,000 18,000 18,000 18,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 9,000 4,500 4,500 4,500
c Other professional fees (attach schedule).... Click to see attachment 13,454 13,454    
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 475 475    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 2,274 1,138 1,136 1,136
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 61,203 37,567 23,636 23,636
25 Contributions, gifts, grants paid........ 100,000 100,000
26 Total expenses and disbursements. Add lines 24 and 25 161,203 37,567 23,636 123,636
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -59,007
b Net investment income (if negative, enter -0-) 13,039
c Adjusted net income (if negative, enter -0-)... 32,354
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2010)
Form 990-PF (2010)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 20,834 53,560 53,560
2 Savings and temporary cash investments.......... 186,901 95,057 95,057
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges........... 2,776 2,663 2,663
10a Investments—U.S. and state government obligations (attach schedule) 223,826 Click to see attachment210,008 210,008
b Investments—corporate stock (attach schedule)........ 1,010,437 Click to see attachment1,249,370 1,249,370
c Investments—corporate bonds (attach schedule)........ 251,544 Click to see attachment105,254 105,254
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,696,318 1,715,912 1,715,912
Liabilities 17 Accounts payable and accrued expenses.......... 10,000 10,000
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 10,000 10,000
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................... 1,686,318 1,705,912
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 1,686,318 1,705,912
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 1,696,318 1,715,912
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 1,686,318
2 Enter amount from Part I, line 27a...................... 2 -59,007
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 89,755
4 Add lines 1, 2, and 3.......................... 4 1,717,066
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 11,154
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 1,705,912
Form 990-PF (2010)
Form 990-PF (2010)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1a
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2  
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2009      
2008      
2007      
2006      
2005      
2 Total of line 1, column (d) ...................... 2  
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3  
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4  
5 Multiply line 4 by line 3....................... 5  
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6  
7 Add lines 5 and 6......................... 7  
8 Enter qualifying distributions from Part XII, line 4.............. 8  
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2010)
Form 990-PF (2010)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 261
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2............................ 3 261
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 261
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 2,605
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 2,605
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 2,344
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet2,344 Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?.............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletMA, NY
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.Click to see attachment
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletELLIN SMALLEY Telephone no.bullet (617) 527-2269
    Located atbulletPO BOX 1385BROOKLINEMA ZIP+4bullet02446
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
     
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2010?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2010 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2010.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2010?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    ELLIN SMALLEYClick to see attachment PRESIDENT
    1.00     		0 0 0
    60 LONGWOOD AVE
    BROOKLINE,MA02146
    MARTIN SAIMANClick to see attachment TREAS/CLERK
    1.00     		6,000 0 0
    425 PARK AVE
    NEW YORK,NY10022
    ELISA D DOYLEClick to see attachment SCHLSHIP CH
    1.00     		12,000 0 0
    228 ARDMORE AVE
    HADDONFIELD,NJ08033
    JEROME HALSBANDClick to see attachment FOUN MEMBER
    1.00     		6,000 0 0
    69 CLUB POINTE DR
    WHITE PLAINS,NY10605
    MARIE HOROWITTZClick to see attachment FOUN MEMBER
    1.00     		6,000 0 0
    87 HILLTOP DR
    MANHASSET,NY11030
    ARLENE HARRISClick to see attachment FOUN MEMBER
    1.00     		6,000 0 0
    425 PARK AVE
    NEW YORK,NY10022
    CONSTANTINE KREATSOULASClick to see attachment FOUN MEMBER
    1.00     		0 0 0
    611 FOXCROFT ROAD
    ELKINS PARK,PA19027
    ELISA D DOYLEClick to see attachment FOUN MEMBER
    1.00     		0 0 0
    228 ARDMORE AVENUE
    HADDONFIELD,NJ08033
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 SCHOLARSHIPS TO COLLEGES AND TO DESERVING MALE AND FEMALE PUBLIC HIGH SCHOOL STUDENTS 100,000
    2  
    3  
    4  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3...........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    2,656,862
    b
    Average of monthly cash balances.......................
    1b
    213,988
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,870,850
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) ..............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d..........................
    3
    2,870,850
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    43,063
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    2,827,787
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    141,389
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    141,389
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    261
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    261
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    141,128
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4.............................
    5
    141,128
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1.................................
    7
    141,128
    Part XII
    Qualifying Distributions (see page 25 of the instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    123,636
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes................................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    123,636
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    123,636
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2009     		(c)
    2009     		(d)
    2010
    1 Distributable amount for 2010 from Part XI, line 7 141,128
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2010:
    a From 2005....... 74,313
    b From 2006....... 66,526
    c From 2007....... 51,801
    d From 2008....... 98,087
    e From 2009....... 109,311
    fTotal of lines 3a through e......... 400,038
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 123,636
    a Applied to 2009, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		  
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		 
    d Applied to 2010 distributable amount..... 123,636
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2010. 17,492 17,492
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 382,546
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		 
    e Undistributed income for 2009. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    f Undistributed income for 2010. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		 
    8Excess distributions carryover from 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		56,821
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		325,725
    10 Analysis of line 9:
    a Excess from 2006.... 66,526
    b Excess from 2007.... 51,801
    c Excess from 2008.... 98,087
    d Excess from 2009.... 109,311
    e Excess from 2010....  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    APPLICATIONS ARE COMPLETED AND
    RETURNED TO GUIDANCE COUNSELORS
    BROOKLINE,MA02446
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATION FORMS AVAILABLE UPON REQUEST FROM GUIDANCE SERVICES AND BY OFFICE OF FINANCIAL AID IN SCHOOLS WHERE SCHOLARSHIPS HAVE BEEN ESTABLISHED.
    cAny submission deadlines:
    DATES OF APPLICATION HAVE DEADLINES SUPPLIED BY GUIDANCE SERVICES AND FINANCIAL AID OFFICERS.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    AWARDS ARE GRANTED ONLY TO STUDENTS ACCEPTED TO INSTITUTIONS WHERE SCHOLARSHIPS HAVE BEEN ESTABLISHED AND TO STUDENTS IN WORCESTER, MA AND YONKERS, NY PUBLIC HIGH SCHOOLS. GRANTS ARE PAID DIRECTLY TO SCHOOLS, NOT TO INDIVIDUALS.
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    BOSTON UNIVERSITY KALTRA
    BOSTON UNIVERSITY
    BOSTON,MA02215     		    SCHOLARSHIP 5,000
    FORDHAM UNIVERSITY NATHAL
    FORDHAM UNIVERSITY
    BRONX,NY10458     		    SCHOLARSHIP 5,000
    MANHATTAN COLLEGE JINFANG
    MANHATTAN COLLEGE
    RIVERDALE,NY10471     		    SCHOLARSHIP 5,000
    SYRACUSE UNIV N TANGPIPIT
    SYRACUSE UNIVERSITY
    SYRACUSE,NY13244     		    SCHOLARSHIP 5,000
    UMASS AMHERST JASON ASIRI
    UNIVERSITY OF MASSACHUSET
    AMHERST,MA01003     		    SCHOLARSHIP 5,000
    WORCESTER POLYTECH ANA DE
    WORCESTER POLYTECHNICAL I
    WORCESTER,MA01609     		    SCHOLARSHIP 5,000
    BOSTON UNIVERSITY LORNA K
    BOSTON UNIVERSITY
    BOSTON,MA02215     		    SCHOLARSHIP 5,000
    NORTHEASTER UNIV COLBY DA
    NORTHEASTERN UNIVERSITY
    BOSTON,MA02115     		    SCHOLARSHIP 5,000
    NORTHEASTERN UNIV HANNAH
    NORTHEASTERN UNIVERSITY
    BOSTON,MA02115     		    SCHOLARSHIP 5,000
    BOSTON UNIVERSITY JONATHO
    BOSTON UNIVERSITY
    BOSTON,MA02215     		    SCHOLARSHIP 5,000
    THE NEW SCHOOL WILLIAM AN
    THE NEW SCHOOL
    NEW YORK CITY,NY10011     		    SCHOLARSHIP 5,000
    MANHATTAN COLLEGE WALAA A
    MANHATTAN COLLEGE
    RIVERDALE,NY10471     		    SCHOLARSHIP 5,000
    UMASS AMHERST SHERA DEMCH
    UNIVERSITY OF MASSACHUSET
    AMHERST,MA01003     		    SCHOLARSHIP 5,000
    UNIV OF SCIENCES PAUL GE
    UNIVERSITY OF SCIENCES
    PHILADELPHIA,PA19104     		    SCHOLARSHIP 5,000
    PRINCETON UNIVERSITY M
    PRINCETON UNIVERSITY
    PRINCETON,NJ08544     		    SCHOLARSHIP 5,000
    SUNY STONY BROOK M HUSSE
    SUNY STONY BROOK
    STONY BROOK,NY11794     		    SCHOLARSHIP 5,000
    RIDER UNIVERSITY O MICHA
    RIDER UNIVERSITY
    LAWRENCEVILLE,NJ08648     		    SCHOLARSHIP 5,000
    EMMANUEL COLLEGE N TRUON
    EMMANUEL COLLEGE
    BOSTON,MA02115     		    SCHOLARSHIP 5,000
    WORCESTER POLYTECH J MON
    WORCESTER POLYTECHNICAL I
    WORCESTER,MA01609     		    SCHOLARSHIP 5,000
    WORCESTER POLYTECH J HOP
    WORCESTER POLYTECHNICAL I
    WORCESTER,MA01609     		    SCHOLARSHIP 5,000
    Total .................................bullet 3a 100,000
    bApproved for future payment
    Total ..................................bullet 3b  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 5,980  
    4 Dividends and interest from securities....     14 49,377  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....         633
    8Gain or (loss) from sales of assets other than inventory         36,206
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   55,357 36,839
    13Total. Add line 12, columns (b), (d), and (e)...................
    1392,196
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash....................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements............................
    1b(4)
     
    No
    (5) Loans or loan guarantees..............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    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
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    Employer identification number

    13-6225947
    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
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY         		Employer identification number

    13-6225947
    Part I
    Contributors (see Instructions)
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
    1
     
     

    ELLIN SMALLEY    
    60 LONGWOOD AVENUE
       
    BROOKLINE, MA   02146

    		$10,000




    (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
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY         		Employer identification number

    13-6225947
    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
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY         		Employer identification number

    13-6225947
    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:  

    TY 2010 AccountingFeesSchedule
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT & TAX PREPARATION 9,000 4,500 4,500 4,500

    TY 2010 CompensationExplanation
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Person Name Explanation
    ELLIN SMALLEY  
    MARTIN SAIMAN  
    ELISA D DOYLE  
    JEROME HALSBAND  
    MARIE HOROWITTZ  
    ARLENE HARRIS  
    CONSTANTINE KREATSOULAS  
    ELISA D DOYLE  

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

    TY 2010 GainLossSaleOtherAssetsSch
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    COLUMBIA DIVIDEND INCOME FUND 3538.3 2008-07 PURCHASE 2010-03   43,663 47,037     -3,374  
    COLUMBIA SELECT LARGE CAP GR 4200.93 2008-07 PURCHASE 2010-03   44,782 36,717     8,065  
    COLUMBIA CONVERTABLE 753.281SHS 2008-07 PURCHASE 2010-03   10,139 7,668     2,471  
    COLUMBIA SELECT SMALL CAP 2636.34SHS 2008-07 PURCHASE 2010-03   39,281 43,858     -4,577  
    CMG ULTRA ST BOND 5446.62SHS 2009-11 PURCHASE 2010-02   49,945 50,000     -55  
    COLUMBIA ST INT FUND 10367.2SHS 2008-07 PURCHASE 2010-03   75,473 73,286     2,187  
    ISHARE BARCLAYS TIPS BD FUND 165 SHS 2009-02 PURCHASE 2010-03   17,137 16,644     493  
    ISHARES IBOXX INV GR 420SHS 2009-02 PURCHASE 2010-03   44,305 39,636     4,669  
    ISHARES IBOXX INV GR 55SHS 2009-02 PURCHASE 2010-03   5,802 5,157     645  
    COLUMBIA VALUE & RESTR 1649.03SHS 2008-07 PURCHASE 2010-03   73,645 71,854     1,791  
    500SHS BANK NY MELLON 1994-12 PURCHASE 2010-03   15,525 4,091     11,434  
    100 SHS BAXTER INT'L 2009-06 PURCHASE 2010-06   4,100 5,072     -972  
    150 SHS CVS 2008-12 PURCHASE 2010-01   4,659 3,953     706  
    150 SHS COLGATE PALMOLIVE 2009-12 PURCHASE 2010-03   12,562 12,782     -220  
    300 SHS COLGATE PALMOLIVE 2009-12 PURCHASE 2010-08   23,440 25,563     -2,123  
    400 SHS INTEL 2008-12 PURCHASE 2010-07   8,403 7,315     1,088  
    150 SHS IBM 2009-01 PURCHASE 2010-08   19,795 18,963     832  
    300 SHS NESTLES 2009-12 PURCHASE 2010-03   15,069 14,669     400  
    200 SHS NESTLES 2009-12 PURCHASE 2010-06   9,536 9,779     -243  
    400 SHS NESTLES 2009-12 PURCHASE 2010-08   19,994 19,559     435  
    300 SHS ST JUDE 2009-07 PURCHASE 2010-09   11,177 11,745     -568  
    150 SHS ISHARES NASDAQ BIOTECH 2009-10 PURCHASE 2010-10   13,320 12,178     1,142  
    500 SHS ISHARES BARCLAYS 1-3CD 2009-12 PURCHASE 2010-08   52,255 52,279     -24  
    10000 COMERICA BANK 2010-07 PURCHASE 2010-10   11,204 10,687     517  
    10000 IDAHO POWER CO 2009-04 PURCHASE 2010-06   10,344 10,572     -228  
    10000 DUQUESNE LIGHT CO 2009-03 PURCHASE 2010-02   10,794 10,740     54  
    10000 UNITED HEALTH CARE 2009-07 PURCHASE 2010-01   10,619 10,286     333  
    6 SHS I SHARES RUSSELL MIDCAP VALUE 2008-01 PURCHASE 2010-04   261 157     104  
    6 SHS I SHARES RUSSELL MIDCAP GROWTH 2008-01 PURCHASE 2010-04   258 274     -16  
    WASH SALE LOSS DISALLOWED 2008-01 PURCHASE 2010-04   16       16  
    29 SHS VANGUARD EMERGING MARKETS VIP 2008-01 PURCHASE 2010-04   1,254 1,144     110  
    580 SHS VANGUARD EMERGING MARKETS V 2008-01 PURCHASE 2010-12   27,598 22,881     4,717  
    595 SHS VANGUARD EMERGING MARKETS VI 2010-04 PURCHASE 2010-12   28,815 24,674     4,141  
    449.64 SHS AMERICAN CENTURY EQUITY 2008-01 PURCHASE 2010-04   3,125 3,354     -229  
    WASH SALE LOSS DISALLOWED 2008-01 PURCHASE 2010-04   229       229  
    8714 SHS AMERICAN CENTURY EQUITY 2010-04 PURCHASE 2010-12   55,255 58,429     -3,174  
    9063 SHS AMERICAN CENTURY EQUITY 2008-01 PURCHASE 2010-12   70,614 73,865     -3,251  
    107 SHS AMERICAN GROWTH FUND OF AMER 2008-01 PURCHASE 2010-04   3,125 3,164     -39  
    WASH SLAE DISALLOWED 2008-01 PURCHASE 2010-04   39       39  
    2219 SHS AMERICAN GR FUND OF AMERICA 2010-04 PURCHASE 2010-12   69,987 68,169     1,818  
    2468 SHS AMERICAN GR FUND OF AMERICA 2008-01 PURCHASE 2010-12   69,679 68,069     1,610  
    29 SHS DODGE & COX INT'L STOCK 2008-01 PURCHASE 2010-04   1,000 1,105     -105  
    WASH SALE DISALLOWED 2008-01 PURCHASE 2010-04   105       105  
    588 SHS DODGE & COX INT'L STOCK FUND 2010-04 PURCHASE 2010-12   15,099 14,901     198  
    536 SHS DODGE & COX INT'L STOCK FUND 2008-01 PURCHASE 2010-12   24,900 24,689     211  
    67 SHS FIDELITY ADVISOR NEW INSIGHT 2008-01 PURCHASE 2010-04   1,250 997     253  
    18 SHS HARBOR INT'L 2008-01 PURCHASE 2010-04   1,000 782     218  
    345 SHS HARBOR INT'L 2008-01 PURCHASE 2010-06   12,352 10,520     1,832  
    336 SHS HARBOR INT'L 2010-04 PURCHASE 2010-06   21,383 19,350     2,033  
    79 SHS JP MORGAN HIGHBDG STAT MKT 2008-01 PURCHASE 2010-04   1,250 1,282     -32  
    WASH SALE DISALLOWED 2008-01 PURCHASE 2010-04   32       32  
    1410 SHS JP MORGAN HIGHB DG 2008-01 PURCHASE 2010-12   21,872 23,317     -1,445  
    1519 SHS JP MORGAN HIGHBD 2010-04 PURCHASE 2010-12   22,619 24,175     -1,556  
    11 SHS KEELEY SMALL CAP VALUE 2008-01 PURCHASE 2010-04   250 190     60  
    238 SHS KEELEY SMALL CAP VALUE 2008-01 PURCHASE 2010-11   4,693 3,498     1,195  
    216 SHS KEELEY SMALL CAP VALUE 2010-04 PURCHASE 2010-11   5,660 4,574     1,086  
    19 SHS ROYCE VALUE PLUS 2008-01 PURCHASE 2010-04   248 219     29  
    445 SHS JP MORGAN BOND FUND 2008-01 PURCHASE 2010-04   5,000 4,893     107  
    706 SHS JP MORGAN BOND FUND 2008-01 PURCHASE 2010-06   8,569 8,276     293  
    92 SHS JP MORGAN HIGH YIELD BOND 2008-01 PURCHASE 2010-04   750 638     112  
    13 SHS JP MORGAN HIGH YIELD BOND 2008-01 PURCHASE 2010-06   96 87     9  
    519 SHS PIMCO TOTAL RETURN 2008-01 PURCHASE 2010-04   5,750 5,506     244  
    734 SHS PIMCO TOTAL RETURN 2008-01 PURCHASE 2010-06   8,161 7,787     374  

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Name of Bond End of Year Book Value End of Year Fair Market Value
    DUQUESNE LIGHT CO 10,273 10,273
    PUBLIC SERVICE CO COLOO 11,142 11,142
    UNITED HEALTH CARE GR    
    JP MORGAN CORE BOND    
    JP MORGAN HIGH YIELD    
    PIMCO TOTAL RTEURN    
    BRASCAN CORP 7.125% MAT 6/15/12 21,328 21,328
    HEALTH CARE PPTY 21,099 21,099
    BB&T CORP 20,806 20,806
    MERRILL LYNCH DD 5/6/06 20,606 20,606
    IDAHO POWER    

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Name of Stock End of Year Book Value End of Year Fair Market Value
    300 ABBOTT LABS 14,373 14,373
    500 CVS CAREMARK    
    700 INTEL    
    450 IBM 66,042 66,042
    700 MICROSOFT 13,955 13,955
    400 NESTLE 23,528 23,528
    500 VECTREN 12,690 12,690
    500 MELLON BANK    
    1000 EXXON MOBIL CORP 14,624 14,624
    700 SOUTHERN CO 15,292 15,292
    400 CHEVRON TEXACO 13,687 13,687
    300 CATERPILLAR INC 28,098 28,098
    ISH MSCI EMERGING MKT INDEX 14,293 14,293
    OCCIDENTAL PETROLEUM CORP 24,525 24,525
    ISHARES NASDAQ BIOTEC    
    UTS SPDR TR SER1 25,150 25,150
    ISHARES BARCLAYS 1-3 YR 52,140 52,140
    BAXTER INT'L    
    COLGATE PALMOLIVE 24,111 24,111
    EXPEDITORS INTL OF WASH 21,840 21,840
    JP MORGAN CHASE 16,968 16,968
    ST JUDE MEDICAL    
    WAL-MART 10,786 10,786
    75 COVIDEN 3,424 3,424
    ISHARES RUSSELL MIDCAP VALUE 10,577 10,577
    ISHARES TRUSSELL MIDCAP GR 22,191 22,191
    VANGUARD EMERGING MKT    
    AM GROWTH FUND OF AMERICA    
    DODGE & COX INT'L STOCK 15,489 15,489
    FIDELITY ADVISOR NEW INSIGHTS 53,597 53,597
    HARBOR INTL INST    
    JP MORGAN HIGHBDG STAT MK    
    KEELEY SMALL CAP    
    ROYCE VALUE PLUS 21,502 21,502
    AMERICAN CENTURY EQUITY INCOME    
    COLUMBIA DIVIDEND INCOME    
    COLUMBIA SELECT LARGE CAP    
    COLUMBIA VALUE & RESTRUCT    
    COLUMBIA SELECT SMALL CAP    
    COLUMBIA CONVERTIBLE SECURITIES    
    300 ANALOG DEVICES 11,301 11,301
    200 ADP 9,256 9,256
    500 BANK OF AMERICA 6,670 6,670
    25 ROYAL DUTCH SHELL 16,668 16,668
    COLUMBIA ACORN 13,830 13,830
    FAIRHOLME FDS INC 86,539 86,539
    GOLDMAN SACHS SMALL CAP VALUE 10,999 10,999
    JP MORGAN LARGE CAP 76,020 76,020
    JP MORGAN HIGH YIELD 30,351 30,351
    MORGAN STANLEY FOCUS GROWTH 74,717 74,717
    OPPENHEIMER DEVELOPING MKT 58,114 58,114
    PIMCO TOTAL RETURN 217,533 217,533
    ROYCE MICRO CAP 10,361 10,361
    SUNAMERICA FOCUSED DIVIDEND 81,269 81,269
    TWEEDY BROWNE GLOBAL 13,373 13,373
    WASATCH FDS INTL 13,487 13,487

    TY 2010 InvestmentsGovtObligationsSch
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    US Government Securities - End of Year Book Value:

    23,303
    US Government Securities - End of Year Fair Market Value:

    23,303
    State & Local Government Securities - End of Year Book Value:


    186,705
    State & Local Government Securities - End of Year Fair Market Value:


    186,705


    TY 2010 OtherDecreasesSchedule
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Description Amount
    DIFFERENCE IN GAIN ON SALE OF INVESTMENTS AT COST 1
    & INVESTMENTS ON FINANCIAL STATEMENT RECORDED AT -1
    MARKET VALUE 11,154


    TY 2010 OtherExpensesSchedule
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    FILING FEES 400 200 200 200
    OFFICE, TRAVEL, ADVERTISING 621 311 310 310
    ANNUAL MEETING EXPENSE 1,253 627 626 626


    TY 2010 OtherIncomeSchedule2
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INVESTMENT INCOME 633 633 633


    TY 2010 OtherIncreasesSchedule
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Description Amount
    UNREALIZED GAIN ON SECURITIES 89,755


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT 13,454 13,454    


    TY 2010 SubstantialContributorsSch
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Name Address
    ELLIN SMALLEY PO BOX 1385
    BROOKLINE,MA02446


    TY 2010 TaxesSchedule
    Name:
    THE SMALLEY FOUNDATION
    C/O ELLIN SMALLEY
    EIN: 13-6225947
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX 362 362    
    EXCISE TAX 113 113