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
ROGER & VIOLET NOREEN CHAR TRUST 25293360
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 64713 TRUST TAX SERVICES   Room/suite
City or town, state, and ZIP code
ST PAUL, MN551640713
A Employer identification number

41-6309355
B Telephone number (see page 10 of the instructions)

(651) 466-8722
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$5,573,221J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments 1 1  
4 Dividends and interest from securities...... 179,679 179,679  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -54,323
b Gross sales price for all assets on line 6a 783,399
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain......... 0
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 654 642  
12 Total. Add lines 1 through 11........ 126,011 180,322  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 78,706 62,350   16,356
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 4,765 2,465   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 233 208   25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 83,704 65,023 0 16,381
25 Contributions, gifts, grants paid........ 296,000 296,000
26 Total expenses and disbursements. Add lines 24 and 25 379,704 65,023 0 312,381
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -253,693
b Net investment income (if negative, enter -0-) 115,299
c Adjusted net income (if negative, enter -0-)... 0
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2010)
Form 990-PF (2010)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 1,681    
2 Savings and temporary cash investments.......... 172,831 137,788 137,788
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 2,510,354 Click to see attachment2,475,448 3,009,101
c Investments—corporate bonds (attach schedule)........ 2,461,807 Click to see attachment2,287,056 2,417,819
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........     0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment15,802 Click to see attachment8,513 Click to see attachment8,513
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 5,162,475 4,908,805 5,573,221
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment22 Click to see attachment47
23 Total liabilities (add lines 17 through 22).......... 22 47
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 6,144,554 6,144,554
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds -982,101 -1,235,796
30 Total net assets or fund balances (see page 17 of the
instructions).................... 5,162,453 4,908,758
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 5,162,475 4,908,805
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 5,162,453
2 Enter amount from Part I, line 27a...................... 2 -253,693
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 4,908,760
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 2
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 4,908,758
Form 990-PF (2010)
Form 990-PF (2010)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a 89. ATT INC   2007-06-08 2010-02-02
b 7. ATT INC   2009-04-29 2010-03-08
c 373. ATT INC   2008-06-26 2010-03-08
d 51. ATT INC   2007-06-08 2010-03-08
e 15. ATT INC   2008-05-15 2010-10-28
5. AIR PRODS CHEMICALS INC   2008-10-08 2010-02-26
3465.003 AMERICAN CENTY VISTA FUND INSTL CL   2008-09-19 2010-03-09
78. AMERICAN EXPRESS CO   2009-10-20 2010-01-27
165. AMGEN INC   2007-06-08 2010-04-09
24. ANADARKO PETROLEUM CORP   2008-07-10 2010-04-22
32. ANADARKO PETROLEUM CORP   2009-06-26 2010-06-14
98. ANADARKO PETROLEUM CORP   2009-04-01 2010-06-14
164. APPLIED MATLS INC   2009-09-09 2010-02-02
176. ARCELORMITTAL NY REGISTERED   2010-03-05 2010-07-14
167. ARCELORMITTAL NY REGISTERED   2010-02-11 2010-07-27
16. AXA A D R   2010-03-05 2010-12-15
456. AXA A D R   2009-09-11 2010-12-15
655. BANCO SANTANDER CENT HISPANO A D R   2007-06-08 2010-05-06
640. BANCO SANTANDER CENT HISPANO A D R   2010-03-05 2010-05-10
415. BANCO SANTANDER CENT HISPANO A D R   2007-06-08 2010-05-10
94. BARD C R INC   2007-06-08 2010-09-15
36. BAXTER INTL INC   2010-04-22 2010-05-20
53. BEST BUY CO INC   2008-04-15 2010-07-14
39. BEST BUY CO INC   2008-04-15 2010-09-14
159. BOC HONG KONG HLDGS LTD A D R   2009-09-11 2010-12-10
9. BOEING CO   2010-01-22 2010-09-14
24. BOSTON PPTYS INC   2008-11-21 2010-01-07
261. BOSTON SCIENTIFIC CORP   2008-12-23 2010-04-22
132. BRISTOL MYERS SQUIBB CO   2009-04-13 2010-04-22
76. CAPITAL ONE FINANCIAL CORP   2009-04-01 2010-01-07
18. CARNIVAL CORP   2009-09-29 2010-12-22
21. CATERPILLAR INC   2009-11-11 2010-08-25
45. CHEVRON CORPORATION   2008-10-28 2010-04-22
8. CHEVRON CORPORATION   2009-06-26 2010-06-22
73. CHEVRON CORPORATION   2008-11-21 2010-06-22
115. CISCO SYS INC   2006-12-28 2010-12-22
98. CLOROX CO   2008-11-04 2010-11-18
1. COMPANHIA DE BEBIDAS P R A D R   2008-05-07 2010-12-22
113. CORNING INC   2010-02-02 2010-07-29
98. DARDEN RESTAURANTS INC   2009-04-17 2010-06-23
3. DIAGEO PLC SPONSORED A D R   2010-03-05 2010-09-28
91. DIAGEO PLC SPONSORED A D R   2009-09-11 2010-09-28
7. E ON A G A D R   2010-03-05 2010-09-15
177. E ON A G A D R   2009-09-11 2010-09-15
57. EMERSON ELEC CO   2008-11-21 2010-01-22
72. DELHAIZE GROUP SPONS A D R   2010-07-15 2010-10-12
20. EXXON MOBIL CORP   2010-02-26 2010-06-01
9. EXXON MOBIL CORP   2008-07-10 2010-06-01
21. EXXON MOBIL CORP   2008-10-20 2010-09-27
4985.045 NUVEEN SHORT TERM BOND FUND CL Y   2009-11-17 2010-09-15
108. FOMENTO ECONOMICO MEX SP A D R   2007-06-08 2010-01-13
48. FRANCE TELECOM SPSD ADR   2009-09-11 2010-01-13
231. FRANCE TELECOM SPSD ADR   2007-08-23 2010-01-13
13. FREEPORT MCMORAN COPPER GOLD   2009-05-18 2010-09-27
.4054 FRONTIER COMMUNICATIONS CORP   2006-07-14 2010-07-12
7.6813 FRONTIER COMMUNICATIONS CORP   2009-09-18 2010-07-14
24.3187 FRONTIER COMMUNICATIONS CORP   2006-07-14 2010-07-14
125000. GE MONEY BANK C D 0.900% 11/19/10   2009-11-17 2010-11-19
299. GAP INC   2009-09-29 2010-11-01
13. GENERAL DYNAMICS CORP   2008-10-20 2010-02-26
25. GOLDMAN SACHS GROUP INC   2009-11-17 2010-07-12
27. GOLDMAN SACHS GROUP INC   2009-07-10 2010-07-12
28. HALLIBURTON CO   2010-01-19 2010-06-01
228. HALLIBURTON CO   2010-03-12 2010-06-14
111. HARRIS CORP DEL   2009-01-22 2010-12-06
26. HESS CORP   2010-06-22 2010-08-13
3. HESS CORP   2009-03-24 2010-08-13
18. HEWLETT PACKARD CO   2007-06-08 2010-09-14
28. HEWLETT PACKARD CO   2007-06-08 2010-10-28
207. HONDA MOTOR CO LTD A D R   2007-06-08 2010-11-08
458. INTESA SANPAOLO A D R   2010-03-05 2010-03-10
139. JOHNSON JOHNSON   2007-06-08 2010-06-23
24. KIMBERLY CLARK CORP   2010-08-25 2010-11-29
181. KIMBERLY CLARK CORP   2010-03-10 2010-12-09
63. MCDONALDS CORP   2008-10-08 2010-02-04
28. MCDONALDS CORP   2009-05-18 2010-09-27
13. MCDONALDS CORP   2009-05-18 2010-10-28
151. MICROSOFT CORP   2007-06-08 2010-11-01
66. MITSUBISHI UFJ FINL GRP A D R   2010-03-05 2010-10-15
1518. MITSUBISHI UFJ FINL GRP A D R   2009-09-11 2010-10-15
23. MITSUI & CO LTD SPSD ADR   2010-03-05 2010-08-12
53. MONSANTO CO   2007-06-08 2010-04-15
308. MTN GROUP LTD A D R   2009-09-11 2010-02-16
902. NATIONAL BANK OF GREECE A D R   2009-09-29 2010-03-10
1489. NATIONAL BANK OF GREECE A D R   2010-03-05 2010-04-27
23. NATIONAL GRID PLC SP A D R   2009-09-11 2010-02-16
116. NATIONAL GRID PLC SP A D R   2009-01-12 2010-02-16
149. NATIONAL OILWELL VARCO INC   2008-11-25 2010-06-23
91. NESTLE SA SPONSORED A D R   2009-09-11 2010-11-09
245. NIDEC CORPORATION A D R   2010-04-23 2010-09-15
11. NIKE INC   2007-06-08 2010-03-08
9. NIKE INC   2009-06-18 2010-06-14
52. NIKE INC   2009-01-26 2010-06-14
96. NOVARTIS AG A D R   2008-08-28 2010-12-16
315. OWENS & MINOR INC   2009-03-23 2010-12-01
12. P N C FINANCIAL SERVICES GROUP INC   2009-04-30 2010-01-07
14. PRICELINE COM INC   2009-01-22 2010-05-21
61. PROCTER & GAMBLE CO   2007-06-08 2010-03-08
154. PROCTER & GAMBLE CO   2007-06-08 2010-08-11
126. QUALCOMM INC   2007-06-08 2010-05-21
125. QUALCOMM INC   2007-06-08 2010-06-25
6. RWE AG A D R   2010-03-05 2010-10-15
139. RWE AG A D R   2009-09-11 2010-10-15
65. RED HAT INC   2009-03-04 2010-01-20
152. RIO TINTO PLC A D R   2010-03-05 2010-05-10
56. ROGERS COMMUNICATIONS INC CL B   2010-02-26 2010-12-20
2332.09 ROWE T PRICE MID-CAP VALUE FD INC   2008-09-19 2010-03-09
138. SAP AG A D R   2009-03-04 2010-02-23
118. SOUTHERN CO   2009-10-20 2010-05-04
103. SOUTHWESTERN ENERGY CO   2008-11-25 2010-02-09
67. STAPLES INC   2008-03-18 2010-06-22
60. STAPLES INC   2008-03-18 2010-07-14
102. STATE STR CORP   2009-03-24 2010-04-05
7. STATOIL ASA A D R   2010-03-05 2010-11-22
223. STATOIL ASA A D R   2009-09-11 2010-11-22
12. STERLITE INDS INDIA A D S   2010-03-05 2010-06-09
331. STERLITE INDS INDIA A D S   2009-05-06 2010-06-09
365. SYSCO CORP   2009-04-29 2010-12-01
87. TELEFONICA SA SPON A D R   2007-12-18 2010-11-09
320. TENARIS SA ADR   2010-03-05 2010-06-09
70. TOTAL S A A D R   2009-03-11 2010-02-26
104. TOTAL S A A D R   2007-06-08 2010-03-10
34. TOTAL S A A D R   2009-03-11 2010-03-12
9. TOYOTA MTR CORP A D R   2009-09-11 2010-02-11
90. TOYOTA MTR CORP A D R   2007-06-08 2010-02-11
118. COMPANHIA DE BEBIDAS P R RT 6/07/10   2008-06-10 2010-06-07
22. UNITED TECHNOLOGIES CORP   2008-06-30 2010-07-14
13. UNITED TECHNOLOGIES CORP   2008-06-30 2010-08-13
31. VERIZON COMMUNICATIONS INC   2006-07-14 2010-02-26
35. VERIZON COMMUNICATIONS INC   2006-07-14 2010-03-08
10. VERIZON COMMUNICATIONS INC   2006-07-14 2010-10-28
19. WASTE MGMT INC   2009-02-05 2010-02-26
319. WASTE MGMT INC   2008-11-26 2010-06-16
42. WASTE MGMT INC   2009-02-05 2010-06-22
29. WASTE MGMT INC   2009-04-23 2010-10-28
79. WESTERN DIGITAL CORP   2009-10-27 2010-10-04
110. WESTERN DIGITAL CORP   2009-10-02 2010-10-04
29. X T O ENERGY INC   2009-06-26 2010-01-07
42. X T O ENERGY INC   2009-06-26 2010-01-19
98. XILINX INC   2009-04-17 2010-10-08
192. XILINX INC   2009-10-27 2010-12-22
19. CENTRAL EUROPEAN MEDIA ENT A   2010-03-05 2010-08-06
116. CENTRAL EUROPEAN MEDIA ENT A   2009-04-14 2010-08-06
142. INVESCO LTD   2009-04-01 2010-04-14
53. ACE LTD   2008-09-18 2010-03-22
219. FOSTER WHEELER AG   2009-10-27 2010-03-04
61. TRANSOCEAN LTD   2010-03-12 2010-06-01
CAPITAL GAIN DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 2,278   3,583 -1,305
b 176   179 -3
c 9,382   12,705 -3,323
d 1,283   2,053 -770
e 428   601 -173
343   303 40
50,000   58,559 -8,559
2,993   2,745 248
9,998   9,410 588
1,739   1,635 104
1,341   3,316 -1,975
4,108   5,097 -989
2,036   2,268 -232
5,285   7,173 -1,888
5,318   6,109 -791
270   344 -74
7,699   18,136 -10,437
6,669   12,181 -5,512
7,687   8,017 -330
4,984   7,718 -2,734
7,311   7,889 -578
1,504   1,811 -307
1,846   2,207 -361
1,434   1,624 -190
10,458   8,084 2,374
568   529 39
1,645   1,013 632
1,848   1,959 -111
3,219   2,667 552
3,176   968 2,208
838   608 230
1,348   1,260 88
3,642   2,989 653
601   528 73
5,488   4,813 675
2,240   3,174 -934
6,164   6,161 3
150   79 71
2,005   2,087 -82
4,057   3,856 201
208   198 10
6,303   6,490 -187
204   257 -53
5,163   9,253 -4,090
2,437   1,732 705
4,967   5,720 -753
1,204   1,305 -101
542   763 -221
1,298   1,654 -356
50,050   49,751 299
4,753   4,145 608
1,215   1,282 -67
5,848   6,822 -974
1,123   630 493
3   3  
56   58 -2
176   190 -14
125,000   125,000  
5,691   6,451 -760
942   773 169
3,407   4,406 -999
3,680   3,895 -215
606   964 -358
5,458   7,096 -1,638
5,042   4,629 413
1,375   1,449 -74
159   196 -37
714   822 -108
1,188   1,279 -91
7,509   7,128 381
10,541   11,045 -504
8,179   8,581 -402
1,476   1,555 -79
11,212   10,790 422
4,050   3,472 578
2,099   1,565 534
1,008   702 306
4,071   4,506 -435
303   344 -41
6,973   13,206 -6,233
6,186   6,561 -375
3,476   3,181 295
4,307   4,404 -97
3,878   6,448 -2,570
3,913   8,428 -4,515
1,159   1,145 14
5,845   6,063 -218
5,236   5,730 -494
5,219   3,684 1,535
5,483   6,380 -897
754   582 172
650   511 139
3,754   2,504 1,250
5,596   5,377 219
9,064   7,066 1,998
672   488 184
2,658   931 1,727
3,860   3,810 50
9,315   9,614 -299
4,494   5,258 -764
4,321   5,216 -895
417   517 -100
9,651   14,685 -5,034
1,885   934 951
7,528   5,986 1,542
1,901   1,825 76
50,000   49,300 700
6,031   4,554 1,477
4,051   3,919 132
4,365   3,353 1,012
1,434   1,489 -55
1,195   1,334 -139
4,694   5,642 -948
144   165 -21
4,602   6,931 -2,329
159   216 -57
4,394   3,210 1,184
10,696   11,768 -1,072
6,701   10,600 -3,899
11,356   13,125 -1,769
3,902   3,354 548
6,053   10,752 -4,699
1,983   1,629 354
678   763 -85
6,781   11,082 -4,301
       
1,490   1,385 105
919   799 120
895   943 -48
1,034   1,065 -31
325   286 39
625   567 58
10,680   8,917 1,763
1,407   1,237 170
1,046   827 219
2,192   2,771 -579
3,052   3,929 -877
1,388   1,108 280
1,981   1,604 377
2,553   2,088 465
5,472   4,268 1,204
435   571 -136
2,657   1,976 681
3,194   2,061 1,133
2,771   3,058 -287
5,440   6,482 -1,042
3,136   4,721 -1,585
      30
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       -1,305
b       -3
c       -3,323
d       -770
e       -173
      40
      -8,559
      248
      588
      104
      -1,975
      -989
      -232
      -1,888
      -791
      -74
      -10,437
      -5,512
      -330
      -2,734
      -578
      -307
      -361
      -190
      2,374
      39
      632
      -111
      552
      2,208
      230
      88
      653
      73
      675
      -934
      3
      71
      -82
      201
      10
      -187
      -53
      -4,090
      705
      -753
      -101
      -221
      -356
      299
      608
      -67
      -974
      493
       
      -2
      -14
       
      -760
      169
      -999
      -215
      -358
      -1,638
      413
      -74
      -37
      -108
      -91
      381
      -504
      -402
      -79
      422
      578
      534
      306
      -435
      -41
      -6,233
      -375
      295
      -97
      -2,570
      -4,515
      14
      -218
      -494
      1,535
      -897
      172
      139
      1,250
      219
      1,998
      184
      1,727
      50
      -299
      -764
      -895
      -100
      -5,034
      951
      1,542
      76
      700
      1,477
      132
      1,012
      -55
      -139
      -948
      -21
      -2,329
      -57
      1,184
      -1,072
      -3,899
      -1,769
      548
      -4,699
      354
      -85
      -4,301
       
      105
      120
      -48
      -31
      39
      58
      1,763
      170
      219
      -579
      -877
      280
      377
      465
      1,204
      -136
      681
      1,133
      -287
      -1,042
      -1,585
       
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 -54,323
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 224,749 4,933,270 0.045558
2008 360,314 6,177,701 0.058325
2007 591,175 7,061,690 0.083716
2006 387,864 7,010,554 0.055326
2005 464,612 6,906,065 0.067276
2 Total of line 1, column (d) ...................... 2 0.3102
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.06204
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 5,260,092
5 Multiply line 4 by line 3....................... 5 326,336
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 1,153
7 Add lines 5 and 6......................... 7 327,489
8 Enter qualifying distributions from Part XII, line 4.............. 8 312,381
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 2,306
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2............................ 3 2,306
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 2,306
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 3,029
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 3,029
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 0
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 10 723
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet577 Refunded Bullet 11 146
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
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletMN
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletUS BANK NATIONAL ASSOCIATION Telephone no.bullet (651) 466-8722
    Located atbullet101 E FIFTH STST PAULMN ZIP+4bullet55101
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2010?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2010 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2010.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2010?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    US BANK NA TRUSTEE
    8     		78,706    
    800 NICOLLET MALL
    MINNEAPOLIS,MN55402
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    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  
    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
    5,228,408
    b
    Average of monthly cash balances.......................
    1b
    111,787
    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
    5,340,195
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) ..............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d..........................
    3
    5,340,195
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    80,103
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,260,092
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    263,005
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    263,005
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    2,306
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,306
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    260,699
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    260,699
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1.................................
    7
    260,699
    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
    312,381
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes................................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    312,381
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    312,381
    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 7 260,699
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2010:
    a From 2005....... 133,758
    b From 2006....... 47,914
    c From 2007....... 260,846
    d From 2008....... 55,254
    e From 2009....... 0
    fTotal of lines 3a through e......... 497,772
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 312,381
    a Applied to 2009, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		 0
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2010 distributable amount..... 260,699
    e Remaining amount distributed out of corpus 51,682
    5 Excess distributions carryover applied to 2010. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 549,454
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		0
    e Undistributed income for 2009. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		0
    f Undistributed income for 2010. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		0
    8Excess distributions carryover from 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		133,758
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		415,696
    10 Analysis of line 9:
    a Excess from 2006.... 47,914
    b Excess from 2007.... 260,846
    c Excess from 2008.... 55,254
    d Excess from 2009.... 0
    e Excess from 2010.... 51,682
    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).)
    NONE
    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.
    NONE
    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:
    LISA HINIKER
    101 E FIFTH ST
    ST PAUL,MN55101
    (651) 466-8722
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER FORMAT
    cAny submission deadlines:
    APPLICATIONS ACCEPTED AT ANY TIME
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE TRUST PRIMARILY MAKES GRANTS FOR CHARITABLE, EDUCATIONAL, AND RELIGIOUS OR SCIENTIFIC PURPOSES.
    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
    LOAVES AND FISHES
    1917 LOGAN AVE S
    MINNEAPOLIS,MN55403     		NONE N/A GENERAL 5,000
    MINNEAPOLIS INSTITUTE OF
    ARTS
    2400 THIRD AVE S
    MINNEAPOLIS,MN55401     		NONE N/A GENERAL 2,000
    THE CHILDREN'S THEATER
    COMPANY
    2400 THIRD AVE S
    MINNEAPOLIS,MN55404     		NONE N/A GENERAL 100,000
    ENCORE PROGRAM
    C/O ST STEPHEN'S LUTHERAN CHURCH
    1575 CHARLTON AVE
    WEST ST PAUL,MN55118     		NONE N/A SCHOOL AGE CARE PROGRAM 15,000
    ST STEPHEN'S LUTHERAN
    CHURCH
    1575 CHARLTON ST
    WEST ST PAUL,MN55118     		NONE N/A SCHOLARSHIPS FOR AFRICA 3,600
    360 COMMUNITIES-PARTNERS FOR
    SUCCESS
    501 E HIGHWAY 13 SUITE 102
    BURNSVILLE,MN553372877     		NONE N/A WEST ST PAUL DISTRICT 197 MATCHING FUNDS 100,000
    AMHERST WILDER FOUNDATION
    451 LEXINGTON PKWY N
    ST PAUL,MN55104     		NONE N/A CHILD DEVELOPMENT CENTER 1,000
    BREAKING FREE
    P O BOX 4366
    ST PAUL,MN55104     		NONE N/A EMERGENCY FUNDING 1,000
    GUILD INCORPORATED
    130 S WABASHA ST SUITE 90
    ST PAUL,MN55107     		NONE N/A HOUSING FIRST CLIENT ASSISTANCE FUND 1,000
    LUTHERAN MIDEAST DEVELOPMENT
    C/O ST STEPHEN'S LUTHERAN CHURCH
    1575 CHARLTON ST
    WEST ST PAUL,MN55118     		NONE N/A DIRECT TO THE PEOPLE/CENTENNIAL CELEBRATION 40,900
    NC LITTLE MEMORIAL HOSPICE INC
    7019 LYNMAR LANE
    EDINA,MN55435     		NONE N/A GENERAL OPERATING SUPPORT 1,000
    PEOPLE SERVING PEOPLE
    614 S 3RD ST
    MINNEAPOLIS,MN55415     		NONE N/A GENERAL 1,000
    ST STEPHEN'S LUTHERAN CHURCH
    1575 CHARLTON ST
    WEST ST PAUL,MN55118     		NONE N/A GENERAL 15,000
    ST STEPHEN'S HUMAN SERVICES
    2211 CLINTON AVE S
    MINNEAPOLIS,MN55404     		NONE N/A GENERAL OPERATING SUPPORT 2,500
    THE SALVATION ARMY
    2445 PRIOR AVENUE
    ROSEVILLE,MN551132714     		NONE PUBLIC CHARITY EMERGENCY SERVICES TO TWIN CITIES RESIDENTS 2,500
    NEIGHBORS INC
    218 13TH AVENUE SOUTH
    SOUTH ST PAUL,MN55075     		NONE N/A GENERAL 2,500
    GUTHRIE THEATER
    818 SOUTH 2ND STREET
    MINNEAPOLIS,MN55415     		NONE N/A GENERAL 2,000
    Total .................................bullet 3a 296,000
    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 1  
    4 Dividends and interest from securities....     14 179,679  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory     18 -54,323  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aFEDERAL TAX REFUND     01 12  
    bFOREIGN EXCH GAIN     01 15  
    cCLASS ACTION SETTL     01 627  
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   126,011  
    13Total. Add line 12, columns (b), (d), and (e)...................
    13126,011
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash....................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements............................
    1b(4)
     
    No
    (5) Loans or loan guarantees..............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    ROGER & VIOLET NOREEN CHAR TRUST 25293360
    EIN: 41-6309355
    Name of Bond End of Year Book Value End of Year Fair Market Value
    SBC COMMUNICATIONS INC 247,773 252,793
    GOLDMAN SACHS 09/01/2012 258,233 266,840
    J P MORGAN CHASE 10/01/2015 249,603 264,405
    CS FIRST BOSTON USA 01/15/2014 246,880 272,050
    MORGAN STANLEY 03/01/2013 249,318 266,405
    GE MONEY BANK    
    J P MORGAN CHASE & CO 12/30/11 100,000 116,160
    PIMCO TOTAL RETURN FD 590,000 623,750
    FIRST AMER HIGH INC BOND FD 135,000 153,394
    FIRST AMER SHORT TERM BD FD 75,249 75,626
    AMERICAN CENTY INTL BD FD 135,000 126,396

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    ROGER & VIOLET NOREEN CHAR TRUST 25293360
    EIN: 41-6309355
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ISHARES DOW JONES REGIONAL BK 5,375 6,408
    CISCO SYS INC 11,765 9,690
    EXXON MOBIL CORP 8,534 8,848
    GENERAL ELECTRIC CO 5,775 7,206
    JOHNSON & JOHNSON 22,416 22,823
    MCDONALD'S CORP 23,027 32,930
    MICROSOFT CORP 22,718 22,858
    PFIZER INC 9,196 9,911
    VERIZON COMUNICATIONS 3,544 4,473
    SCHLUMBERGER LTD 8,326 8,851
    PRAXAIR INC 17,568 24,440
    QUALCOMM INC    
    UNITED TECHNOLOGIES CORP 14,864 18,735
    PEPSICO INC 25,764 27,047
    AMGEN INC 5,079 5,216
    BANK OF AMERICA CORP 7,554 8,204
    APACHE CORP 7,906 10,611
    CONOCOPHILLIPS 9,901 12,258
    MCGRAW-HILL COS INC 8,880 7,974
    PROCTER & GAMBLE CO 10,507 10,872
    STATE STR CORP    
    WELLS FARGO & CO 6,618 11,001
    ACCENTURE PLC 7,633 9,407
    HEWLETT PACKARD CO 13,156 12,167
    INTEL CORP 10,811 10,809
    TEXAS INSTRUMENTS INC 12,178 11,050
    ILLINOIS TOOL WKS INC 9,571 11,000
    GOLDMAN SACHS GROUP INC 6,807 8,240
    APPLE INC 9,987 23,547
    ABBOTT LABORATORIES 20,474 19,020
    AFLAC INC 19,663 21,105
    BECTON DICKINSON & CO 12,111 12,424
    CHEVRON CORPORATION 10,713 11,863
    LINCOLN NATL CORP IND 2,000 2,559
    MCCORMICK & CO INC 10,114 13,494
    SYSCO CORP    
    V F CORP 8,982 11,117
    AGCO CORP 7,953 7,751
    BARD C R INC    
    BOEING CO 2,114 2,349
    CAMERON INTL CORP 8,097 11,161
    COGNIZANT TECH SOLUTIONS CRP 6,498 12,752
    DANAHER CORP 5,713 8,868
    ECOLAB INC 7,179 8,773
    EMERSON ELEC CO    
    EXPRESS SCRIPTS INC 5,468 8,324
    GOOGLE INC CL A 10,227 11,879
    HALLIBURTON CO 10,645 12,249
    IBM CORP 25,601 36,396
    JACOBS ENGR GROUP INC 9,214 8,574
    MONSANTO CO    
    NATL OILWELL VARCO INC    
    NIKE INC 8,017 11,703
    SCHEIN HENRY INC 9,678 11,296
    T ROWE PRICE GROUP INC 19,503 25,300
    ABB LTD A D R 22,471 22,540
    AIR PRODS CHEMICALS INC 2,181 3,274
    AT&T INC 4,207 4,201
    AVALONBAY CMNTYS INC 2,630 5,628
    CVS/CAREMARK CORP 4,446 4,903
    DISNEY WALT CO 2,054 2,326
    FREEPORT MCMORAN COPPER 3,274 7,325
    GENERAL DYNAMICS CORP 13,340 16,959
    HESS CORP 7,501 10,027
    J P MORGN CHASE & CO 8,035 9,926
    KIMBERLY CLARK CORP 3,022 3,089
    AGRIUM INC 7,822 18,075
    ANGLO AMERICAN PLC ADR 9,090 8,381
    B H P BILLITON LTD ADR 2,677 6,319
    RIO TINTO PLC SPONSORED ADR    
    ATLAS COPCO AB ADR 7,878 10,837
    KEPPEL CORP LTD SPONS ADR 24,461 29,440
    TOYOTA MTR CORP ADR    
    OCCIDENTAL PETE CORP 7,118 12,263
    PETROLEO BRASILEIRO SA PETROBR 10,559 14,181
    STATOILHYDRO ASA    
    TOTAL S A ADR 19,251 14,493
    TRANSOCEAN LTD    
    X T O ENERGY INC    
    HONDA MTR LTD AMERN SHS 9,696 11,258
    T J X COS INC 3,198 4,927
    BRITISH AMERN TOB PLC ADR 22,222 27,040
    DIAGEO PLC SPNS ADR    
    NESTLE S A SPONS ADR REPSTG 24,061 36,233
    NOVARTIS A G ADR 18,556 21,163
    ROCHE HLDG LTD ADR 8,934 7,513
    A X A ADR    
    BANCO SANTANDER CENT HISPANO    
    DBS GROUP HLDGS LTD 16,456 15,639
    PRUDENTIAL FINANCIAL INC 6,175 9,041
    TRAVELERS COS INC 1,817 2,117
    VORNADO REALTY TR 2,776 3,750
    E. ON A G ADR    
    PUBLIC SVC ENTERPRISE GROUP 1,935 1,781
    RWE AG SPONSORED ADR    
    KONINKLIJKE ROYAL KPN NV ADR 8,960 7,966
    TELEFONICA SA SPON ADR 9,823 8,826
    TURKCELL ILETISIM HIZMET ADR 13,739 14,561
    FOMENTO ECONOMICO MEX SP ADR 7,359 10,681
    FRANCE TELECOM SPSD ADR    
    CATERPILLAR INC 7,528 8,991
    FLOWSERVE CORP 8,086 7,630
    UNION PACIFIC CORP 13,345 20,385
    WASTE MGMT INC DEL 2,298 3,208
    KINDER MORGAN MANAGEMENT LLC 11,551 19,596
    BEST BUY COMPANY INC 3,361 3,086
    DIRECTV CROUP INC 7,078 10,581
    STAPLES INC 2,534 2,596
    ANADARKO PETE CORP 4,487 6,321
    CLOROX CO    
    COMPANHIA DE BEBIDAS P R ADR 7,918 18,153
    UNILEVER PLC SPSD ADR 9,192 13,865
    WAL MART STORES INC 24,813 26,156
    ASTRAZENECA P L C SPSD ADR 12,412 12,425
    BOSTON SCIENTIFIC CORP    
    CERNER CORP 4,692 8,053
    GLAXO SMITHKLINE P L C ADR 8,954 9,805
    MEDTRONIC INC 14,155 10,014
    MERCK & CO INC 7,630 8,145
    SANOFI AVENTIS ADR 13,961 15,051
    THERMO FISHER SCIENTIFIC INC 8,798 10,629
    VARIAN MED SYS INC 10,837 12,817
    ACE LTD    
    BOC HONG KONG HLDGS LTD ADR 6,241 9,717
    BOSTON PPTYS INC 1,273 2,583
    METLIFE INC 5,250 7,110
    MITSUBISHI UFJ FINL GRP ADR    
    NORTHERN TR CORP 2,423 2,826
    P N C FINANCIAL SERVICES GROUP 5,980 9,047
    TOKIO MARINE HOLDINGS ADR 10,468 10,656
    ZURICH FINANCIAL SERVICES ADR 4,780 6,136
    NATIONAL GRID PLC SP ADR 2,458 2,485
    P G E CORP 5,792 6,458
    SOUTHWESTERN ENERGY CO    
    KINDER MORGAN MGMT FRACT CUSIP 6 8
    AMERICAN CENTY VISTA FD INSTIT 149,898 182,485
    NEUBERGER BERMAN GENESIS INSTL 211,486 245,786
    T ROWE PRICE MID CAP VALUE FD 163,966 199,768
    AECOM TECHNOLOGY CORP 6,850 6,825
    AMERICAN ELECTRIC POWER CO 4,356 5,865
    AMERICAN EXPRESS CO 4,594 5,537
    APPLIED MATLS INC    
    AVON PRODS INC 6,906 5,580
    BRISTOL-MEYERS SQUIBB CO    
    BUCKLE INC 9,354 12,502
    CAPITAL ONE FINANCIAL CORP    
    CENTRAL EUROPEAN DISTRIB CORP 7,076 6,206
    DARDEN RESTAURANTS INC    
    DOLBY LABORATORIES 2,612 6,537
    DOMINION RESOURCES INC 9,262 12,090
    DOVER CORP 8,581 11,865
    FIFTH THIRD BANCORP 3,093 4,345
    FPL GROUP INC    
    GAP INC    
    HARRIS CORP DEL    
    KELLOGG CO 3,229 3,116
    L-3 COMMUNICATIONS HLDGS INC 8,886 8,318
    ORACLE CORPORATION 9,669 12,614
    OWENS & MINOR INC    
    MASTERCARD INC 3,048 4,258
    PACCAR INC 1,957 2,867
    PRICELINE COM INC 1,597 9,589
    RED HAT INC 2,327 7,395
    SOUTHERN CO    
    TARGET CORPORATION 4,188 5,893
    UNITED HEALTH GROUP INC 1,383 2,600
    UNITED STATES STEEL CORP 2,499 3,680
    VISA INC CLASS A SHRS 3,478 4,152
    WESTERN DIGITAL CORP    
    XILINX INC 6,738 7,709
    ARCELORMITTAL NY REGISTERED    
    BARCLAYS PIC ADR 10,322 8,111
    CANON INC ADR REPSTG 10,990 14,427
    CENTRAL EUROPEAN MEDIA ENT A    
    COVIDIEN PLC 3,657 4,201
    CARNIVAL CORP 10,509 15,216
    FUJIFILM HOLDINGS ADR 15,455 19,586
    DESARROLLADORA HOMEX ADR 10,493 13,017
    ERICSSON TEL SP ADR 2,582 3,102
    FOSTER WHEELER LTD    
    INTESA SANPAOLO ADR    
    INVESCO LTD    
    LUKOIL SPON ADR 8,079 9,556
    MITSUI & CO LTD SPSD ADR 9,972 14,092
    MTN GROUP LTD ADR    
    NATIONAL BANK OF GREECE ADR    
    NISSAN MOTOR LTD SPONS ADR 12,069 12,969
    ORIX CORP SPONS ADR 5,719 8,222
    PETROLEO BRASILEIRO S A ADR 4,860 4,768
    SAP AG ADR    
    SOCIETE GENERALE FRANCE ADR 13,749 11,109
    STERLITE INDS INDIA ADS    
    TENARIS SA ADR    
    THOMPSON CREEK METALS CO INC 12,055 14,985
    TYCO INTERNATIONAL LTD 1,864 2,279
    VALE SA SP ADR 14,358 20,429
    ISHARES MSCI EMERGING MKTS ETF 104,180 148,405
    BARCLAYS IPATH DJ COMMODITY    
    COLGATE PALMOLIVE CO 7,918 10,127
    ALLERGAN INC 7,374 7,966
    AMERIPRISE FINL INC 4,938 6,100
    BORG WARNER INC 6,820 12,301
    BROADCOM CORP 4,504 5,705
    CELGENE CORP 7,328 6,979
    CITIGROUP INC 2,990 2,966
    CORNING INC 6,774 7,535
    EMC CORP 9,766 11,198
    FED EX CORP 6,916 7,720
    KEYCORP NEW 1,811 2,310
    KRAFT FOODS INC 2,839 3,056
    LINEAR TECHNOLOGY CORP 6,677 8,267
    LUBRIZOL CORP 11,363 11,116
    NEXTRA ENERGY INC 10,144 9,774
    ONEOK INC 11,465 11,815
    PARKER HANNIFIN CORP 2,291 3,106
    PEABODY ENERGY CORP 6,664 9,149
    PIONEER NAT RES CO 6,735 9,984
    POLO RALPH LAUREN CORP 5,144 5,879
    REYNOLDS AMERICAN INC 2,623 2,707
    SEMPRA ENERGY 4,252 4,513
    TUPPERWARE BRANDS INC 11,361 11,250
    3M CO 6,833 6,990
    ANHEUSER BUSCH INBEV NV ADR 6,576 5,994
    BASF AG ADR 12,117 14,873
    BHP BILLITON PLC SPSD ADR 6,697 6,843
    BNP PARIBAS SA ADR 11,292 10,703
    BT GROUP PLC ADR 12,318 12,986
    BANCO BRADESCO ADR 5,973 6,594
    BAYERISCHE MOTOREN WERKE ADR 11,655 14,010
    CENTRICA PLC ADR 6,168 5,903
    CNOOC LTD ADR 10,847 15,256
    FOCUS MEDIA HOLDING ADR 5,526 7,654
    HSBC HOLDINGS PLC SPONS ADR 6,347 6,176
    INFINEON TECHNOLOGIES AG ADR 6,531 6,454
    INTERCONTINENTAL HTLS PLSPONS 5,985 6,550
    LVMH MOET HENNESSY LOU VUI ADR 5,002 5,072
    ROGERS COMMUNICATIONS INC 1,958 2,182
    ROYAL DUTCH SHELL PLC ADR 6,402 6,678
    SIEMENS AG ADR 8,922 10,934
    SWISS REINSURANCE CO SPSD ADR 6,478 7,037
    UBS AG REG 5,702 5,616
    VODAFONE GROUP PLC ADR 8,135 8,567
    VOLVO AB SPONSORED ADR 9,752 12,979
    IPATH DOW JONES UBS COMMODITY 200,140 252,722

    TY 2010 OtherAssetsSchedule
    Name:
    ROGER & VIOLET NOREEN CHAR TRUST 25293360
    EIN: 41-6309355
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INCOME 3,469 3,280 3,280
    2009 WASH SALE ADJUSTMENT 12,333 5,233 5,233


    TY 2010 OtherDecreasesSchedule
    Name:
    ROGER & VIOLET NOREEN CHAR TRUST 25293360
    EIN: 41-6309355
    Description Amount
    ROUNDING DIFFERENCES 2


    TY 2010 OtherExpensesSchedule
    Name:
    ROGER & VIOLET NOREEN CHAR TRUST 25293360
    EIN: 41-6309355
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER NONALLOCABLE EXPENSES 208 208   0
    FILING FEE 25 0   25


    TY 2010 OtherIncomeSchedule2
    Name:
    ROGER & VIOLET NOREEN CHAR TRUST 25293360
    EIN: 41-6309355
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    CLASS ACTION SETTLE 627 627  
    FEDERAL TAX REFUND 12 0  
    FOREIGN EXCHANGE GAIN 15 15  


    TY 2010 OtherLiabilitiesSchedule
    Name:
    ROGER & VIOLET NOREEN CHAR TRUST 25293360
    EIN: 41-6309355
    Description Beginning of Year - Book Value End of Year - Book Value
    RETURN OF CAPITAL ADJ 22 47


    TY 2010 TaxesSchedule
    Name:
    ROGER & VIOLET NOREEN CHAR TRUST 25293360
    EIN: 41-6309355
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 2,125 2,125   0
    FEDERAL TAX 2,300 0   0
    FOREIGN TAXES ON QUALIFIED FOR 326 326   0
    FOREIGN TAXES ON NONQUALIFIED 14 14   0