TY 2010 Form 990PF

- TIN:

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

Check all that apply:Initial returnInitial return of a former public charityFinal return

Amended returnAddress changeName change

Name of foundation
LYNN G & EVELYN R WALCK TUA DTD 1587

Number and street (or P.O. box number if mail is not delivered to street address)REGIONS TRUST DEPT P O BOX 2886 Room/suite

City or town, state, and ZIP code
MOBILE, AL366522886

A Employer identification number

59-7224713

B Telephone number (see page 10 of the instructions)

(521) 690-1024

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation 2. Foreign organizations meeting the 85% test,
check here and attach computation bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$1,685,729J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

E If private foundation status was terminated
under section 507(b)(1)(A), check here bullet

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here bullet

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check
3	Interest on savings and temporary cash investments	17		17
4	Dividends and interest from securities......	58,392		58,750
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-70,210
b	Gross sales price for all assets on line 6a 791,551
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).......		447
12	Total. Add lines 1 through 11........	-11,354		58,767
13	Compensation of officers, directors, trustees, etc.	18,441		14,753		3,688
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).......		800	0	0	800
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see page 14 of the instructions)		649	202		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).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	19,890		14,955	0	4,488
25	Contributions, gifts, grants paid........	68,668				68,668
26	Total expenses and disbursements. Add lines 24 and 25	88,558		14,955	0	73,156
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-99,912
b	Net investment income (if negative, enter -0-)			43,812
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	25,921	4,381	4,381
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	129,776	213,584	216,203
	b	Investments—corporate stock (attach schedule)........	1,017,802	842,138	956,770
	c	Investments—corporate bonds (attach schedule)........	470,171	483,961	508,375
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,643,670	1,544,064	1,685,729
	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 )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	1,643,670	1,544,064
	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)....................	1,643,670	1,544,064
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	1,643,670	1,544,064

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	1,643,670
2	Enter amount from Part I, line 27a......................	2	-99,912
3	Other increases not included in line 2 (itemize)	3	308
4	Add lines 1, 2, and 3..........................	4	1,544,066
5	Decreases not included in line 2 (itemize)	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	1,544,064

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	65. ABBOTT LABS W/RIGHTS ATTACHED EXP 11/10/2009	P	2005-02-03	2010-05-11
b	2000. ABBOTT LABS DTD 3/3/09 5.125% 04/01/2019	P	2009-02-26	2010-03-22
c	2000. ABBOTT LABS DTD 3/3/09 5.125% 04/01/2019	P	2009-02-27	2010-03-26
d	1000. ABBOTT LABS DTD 3/3/09 5.125% 04/01/2019	P	2009-02-27	2010-04-15
e	150. AUTOMATIC DATA PROCESSING INC CO COM	P	2005-02-03	2010-05-11
	75. BB&T CORPORATION COM	P	2006-06-01	2010-05-11
	4000. BP CAPITAL MARKETS PLC NORMAL 5.25% 11/0	P	2008-11-06	2010-04-01
	1000. BP CAPITAL MARKETS PLC DTD 10/01/2010 3.	P	2010-09-28	2010-09-29
	5000. BLACKROCK INC DTD 12/10/2009 3.5% 12/10/	P	2010-02-11	2010-04-29
	215. BRISTOL MYERS SQUIBB CO	P	2007-09-26	2010-05-11
	100. BRISTOL MYERS SQUIBB CO	P	2007-09-26	2010-08-12
	400. CARNIVAL CORP	P	2007-05-01	2010-02-17
	40. CHEVRONTEXACO CORP COM	P	2001-05-17	2010-05-11
	1000. CITIGROUP INC FDIC GUARANTEED DTD 08/06/2009 2.25% 12/10/2012	P	2009-12-15	2010-04-07
	1000. CITIGROUP INC FDIC GUARANTEED DTD 08/06/2009 2.25% 12/10/2012	P	2009-12-15	2010-09-13
	75. COCA COLA CO COM	P	2005-02-03	2010-02-17
	65. COCA COLA CO COM	P	2005-02-03	2010-05-11
	175. CONAGRA FOODS INC	P	2006-09-11	2010-05-11
	385. CONSOLIDATED EDISON INC	P	2006-07-12	2010-02-17
	275. DARDEN RESTAURANTS INC	P	2010-02-17	2010-03-29
	100. DOMINION RES INC VA NEW COM	P	2005-02-03	2010-05-11
	425. DU PONT E I DE NEMOURS & CO	P	2006-09-11	2010-02-17
	5000. DUKE ENERGY CORP CALLABLE 6.25% 01/15/20	P	2007-12-10	2010-02-09
	360. EMERSON ELEC CO	P	2008-02-19	2010-02-17
	50. EXXON MOBIL CORP	P	2005-02-03	2010-05-11
	318.38 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6% 12	P	2007-12-10	2010-01-15
	163.54 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6% 12	P	2007-12-10	2010-02-16
	2015.45 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6% 1	P	2007-12-10	2010-03-15
	435.94 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6% 12	P	2007-12-10	2010-04-15
	375.64 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6% 12	P	2007-12-10	2010-05-17
	250.38 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6% 12	P	2007-12-10	2010-06-15
	328.77 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6% 12	P	2007-12-10	2010-07-15
	311.58 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6% 12	P	2007-12-10	2010-08-16
	10542.07 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6%	P	2007-12-10	2010-09-13
	319.24 FEDERAL HOME LOAN MORTGAGE CORP POOL #G03616 DTD 11/01/07 6% 12	P	2007-12-10	2010-09-15
	204.77 FEDERAL HOME LOAN MTG CORP POOL #G13378 DTD 12/01/2008 5% 12/01	P	2010-06-08	2010-07-15
	235.74 FEDERAL HOME LOAN MTG CORP POOL #G13378 DTD 12/01/2008 5% 12/01	P	2010-06-08	2010-08-16
	298.94 FEDERAL HOME LOAN MTG CORP POOL #G13378 DTD 12/01/2008 5% 12/01	P	2010-06-08	2010-09-15
	305.44 FEDERAL HOME LOAN MTG CORP POOL #G13378 DTD 12/01/2008 5% 12/01	P	2010-06-08	2010-10-15
	345.12 FEDERAL HOME LOAN MTG CORP POOL #G13378 DTD 12/01/2008 5% 12/01	P	2010-06-08	2010-11-15
	317.61 FEDERAL HOME LOAN MTG CORP POOL #G13378 DTD 12/01/2008 5% 12/01	P	2010-06-08	2010-12-15
	1350.36 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-01-15
	1002.82 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-02-16
	1671.67 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-03-15
	1369.39 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-04-15
	1094.23 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-05-17
	984.08 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	P	2007-12-10	2010-06-15
	1031.3 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	P	2007-12-10	2010-07-15
	1052.86 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-08-16
	1240.46 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-09-15
	1378.56 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-10-15
	1550.53 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-11-15
	1418.04 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/	P	2007-12-10	2010-12-15
	146.63 FEDERAL HOME LOAN MORTGAGE POOL #A82470 DTD 10/01/08 6% 10/01/2	P	2010-06-08	2010-07-15
	47.32 FEDERAL HOME LOAN MORTGAGE POOL #A82470 DTD 10/01/08 6% 10/01/20	P	2010-06-08	2010-08-16
	3509.93 FEDERAL HOME LOAN MORTGAGE POOL #A82470 DTD 10/01/08 6% 10/01/	P	2010-06-08	2010-09-13
	185.02 FEDERAL HOME LOAN MORTGAGE POOL #A82470 DTD 10/01/08 6% 10/01/2	P	2010-06-08	2010-09-15
	1000. FEDERAL NATIONAL MORTGAGE ASSN 5% 03/1	P	2007-12-10	2010-09-13
	138.62 FEDERAL NATIONAL MORTGAGE ASSN POOL #256	P	2010-06-08	2010-07-26
	126.44 FEDERAL NATIONAL MORTGAGE ASSN POOL #256	P	2010-06-08	2010-08-25
	201.31 FEDERAL NATIONAL MORTGAGE ASSN POOL #256	P	2010-06-08	2010-09-27
	164.29 FEDERAL NATIONAL MORTGAGE ASSN POOL #256	P	2010-06-08	2010-10-25
	196.53 FEDERAL NATIONAL MORTGAGE ASSN POOL #256	P	2010-06-08	2010-11-26
	240.2 FEDERAL NATIONAL MORTGAGE ASSN POOL #256	P	2010-06-08	2010-12-27
	63.55 FEDERAL NATIONAL MORTGAGE ASSN POOL #745500 DTD 04/01/2006 5.5%	P	2010-06-08	2010-07-26
	61.7 FEDERAL NATIONAL MORTGAGE ASSN POOL #745500 DTD 04/01/2006 5.5% 1	P	2010-06-08	2010-08-25
	65.73 FEDERAL NATIONAL MORTGAGE ASSN POOL #745500 DTD 04/01/2006 5.5%	P	2010-06-08	2010-09-27
	64.39 FEDERAL NATIONAL MORTGAGE ASSN POOL #745500 DTD 04/01/2006 5.5%	P	2010-06-08	2010-10-25
	62.8 FEDERAL NATIONAL MORTGAGE ASSN POOL #745500 DTD 04/01/2006 5.5% 1	P	2010-06-08	2010-11-26
	68.2 FEDERAL NATIONAL MORTGAGE ASSN POOL #745500 DTD 04/01/2006 5.5% 1	P	2010-06-08	2010-12-27
	765.52 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-01-25
	631.77 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-02-25
	624.86 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-03-25
	872.27 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-04-26
	804.41 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-05-25
	2330.34 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5%	P	2007-12-10	2010-06-25
	639.11 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-07-26
	613.84 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-08-25
	661.36 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-09-27
	685.89 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-10-25
	650.66 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 0	P	2007-12-10	2010-11-26
	666.5 FEDERAL NATIONAL MORTGAGE ASSN POOL #888129 DTD 01/01/07 5.5% 02	P	2007-12-10	2010-12-27
	295.07 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-01-25
	256.69 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-02-25
	211.19 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-03-25
	237.14 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-04-26
	252.51 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-05-25
	427.72 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-06-25
	149.16 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-07-26
	298.02 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-08-25
	209.09 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-09-27
	225.9 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 02	P	2007-12-10	2010-10-25
	268.88 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-11-26
	219.25 FEDERAL NATIONAL MORTGAGE ASSN POOL #888922 DTD 11/01/07 5.5% 0	P	2007-12-10	2010-12-27
	384.65 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/	P	2007-12-10	2010-01-25
	394.16 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/	P	2007-12-10	2010-02-25
	371.08 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/	P	2007-12-10	2010-03-25
	375.4 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/0	P	2007-12-10	2010-04-26
	376.93 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/	P	2007-12-10	2010-05-25
	685.5 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/0	P	2007-12-10	2010-06-25
	358.41 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/	P	2007-12-10	2010-07-26
	367.39 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/	P	2007-12-10	2010-08-25
	368.8 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/0	P	2007-12-10	2010-09-27
	461.19 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/	P	2007-12-10	2010-10-25
	348.76 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/	P	2007-12-10	2010-11-26
	382.88 FEDERAL NATIONAL MORTGAGE ASSN POOL #888923 DTD 11/01/07 5% 10/	P	2007-12-10	2010-12-27
	224.48 FEDERAL NATIONAL MORTGAGE ASSN POOL #930055 DTD 10/01/2008 6% 1	P	2010-06-08	2010-07-26
	238.11 FEDERAL NATIONAL MORTGAGE ASSN POOL #930055 DTD 10/01/2008 6% 1	P	2010-06-08	2010-08-25
	363.3 FEDERAL NATIONAL MORTGAGE ASSN POOL #930055 DTD 10/01/2008 6% 10	P	2010-06-08	2010-09-27
	411.64 FEDERAL NATIONAL MORTGAGE ASSN POOL #930055 DTD 10/01/2008 6% 1	P	2010-06-08	2010-10-25
	227.94 FEDERAL NATIONAL MORTGAGE ASSN POOL #930055 DTD 10/01/2008 6% 1	P	2010-06-08	2010-11-26
	232.44 FEDERAL NATIONAL MORTGAGE ASSN POOL #930055 DTD 10/01/2008 6% 1	P	2010-06-08	2010-12-27
	1984.25 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	P	2007-12-10	2010-01-25
	1626.57 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	P	2007-12-10	2010-02-25
	1611.48 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	P	2007-12-10	2010-03-25
	1492.03 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	P	2007-12-10	2010-04-26
	6511.11 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	P	2007-12-10	2010-05-25
	978.27 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07/	P	2007-12-10	2010-06-25
	1129.62 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	P	2007-12-10	2010-07-26
	1533.47 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	P	2007-12-10	2010-08-25
	1606.16 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	P	2007-12-10	2010-09-27
	884.32 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07/	P	2007-12-10	2010-10-25
	1007.74 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	P	2007-12-10	2010-11-26
	1352.7 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07/	P	2007-12-10	2010-12-27
	128.66 FEDERAL NATIONAL MORTGAGE ASSN POOL #963138 DTD 04/01/2008 5% 0	P	2010-06-08	2010-07-26
	41.24 FEDERAL NATIONAL MORTGAGE ASSN POOL #963138 DTD 04/01/2008 5% 05	P	2010-06-08	2010-08-25
	155.2 FEDERAL NATIONAL MORTGAGE ASSN POOL #963138 DTD 04/01/2008 5% 05	P	2010-06-08	2010-09-27
	128.36 FEDERAL NATIONAL MORTGAGE ASSN POOL #963138 DTD 04/01/2008 5% 0	P	2010-06-08	2010-10-25
	134.22 FEDERAL NATIONAL MORTGAGE ASSN POOL #963138 DTD 04/01/2008 5% 0	P	2010-06-08	2010-11-26
	161. FEDERAL NATIONAL MORTGAGE ASSN POOL #963138 DTD 04/01/2008 5% 05/	P	2010-06-08	2010-12-27
	1098.135 FEDERATED KAUFMAN SMALL CAP FUND A	P	2007-11-06	2010-02-18
	5567.831 FIDELITY ADVISOR DIVERSIFIED INTL FUND #	P	2007-01-10	2010-02-18
	230. FIRSTENERGY CORP COM	P	2008-06-17	2010-08-12
	.421 FRONTIER COMMUNICATIONS CORP	P	2001-05-17	2010-07-08
	128. FRONTIER COMMUNICATIONS CORP	P	2006-07-12	2010-07-15
	125. GALLAGHER ARTHUR J & CO	P	2006-03-02	2010-05-11
	280. GENERAL ELEC CO COM	P	2008-02-19	2010-02-17
	1000. GENERAL ELECTRIC CO 5% 02/01/2013	P	2007-12-10	2010-04-07
	1000. GENERAL ELECTRIC CO 5% 02/01/2013	P	2007-12-10	2010-09-13
	340. GENERAL MILLS INC	P	2006-03-21	2010-02-17
	75. GENUINE PARTS CO	P	2002-03-04	2010-05-11
	5000. HSBC FINANCE CORP 4.625% 09/15/2010	P	2007-12-10	2010-02-09
	1000. HESS CORPORATION DTD 2/3/09 8.125% 02/15	P	2009-09-10	2010-04-07
	695. HOME DEPOT INC COM	P	2008-02-19	2010-02-17
	300. INTEL CORP COM	P	2006-10-16	2010-05-11
	100. JP MORGAN CHASE & CO COM	P	2002-03-04	2010-05-11
	75. JOHNSON & JOHNSON COM	P	2007-11-09	2010-05-11
	2000. KELLOGG CO DTD 12/03/07 5.125% 12/03/201	P	2007-12-10	2010-02-08
	3000. KELLOGG CO DTD 12/03/07 5.125% 12/03/201	P	2007-12-10	2010-02-09
	70. KIMBERLY CLARK CORP	P	2007-09-26	2010-05-11
	1000. KRAFT FOODS INC DTD 02/08/2010 4.125% 02	P	2010-02-05	2010-04-07
	375. LILLY ELI & CO	P	2008-02-19	2010-08-12
	525. LIMITED INC COM	P	2010-02-17	2010-09-07
	125. MCDONALDS CORP	P	2005-02-03	2010-02-17
	85. MCDONALDS CORP	P	2005-02-03	2010-05-11
	1000. MCDONALDS CORP SERIES: MTN DTD 02/29/08	P	2008-05-09	2010-05-10
	4000. MCDONALDS CORP SERIES: MTN DTD 02/29/08	P	2008-05-09	2010-05-20
	100. MERCK & CO. INC. NEW	P	2008-06-17	2010-05-11
	250. MICROSOFT CORP COM	P	2002-08-15	2010-05-11
	1000. MICROSOFT CORP DTD 09/27/2010 1.625% 09/	P	2010-09-22	2010-11-30
	4000. MICROSOFT CORP DTD 09/27/2010 1.625% 09/	P	2010-09-23	2010-11-30
	5000. MORGAN STANLEY 5.05% 01/21/2011	P	2007-12-10	2010-04-30
	50. OCCIDENTAL PETROLEUM CORP	P	2005-02-03	2010-05-11
	1274.605 OPPENHEIMER MAIN ST SMALL CAP FD CL Y	P	2007-11-06	2010-02-18
	1000. PEPSICO INC DTD 10/24/08 7.9% 11/01/2018	P	2010-08-09	2010-11-16
	3000. GCB PEPSICO, INC CONTRA CUSIP FOR 713448BJ6 DTD 10/24/2008 7.9%	P	2008-11-06	2010-11-02
	1000. GCB PEPSICO, INC CONTRA CUSIP FOR 713448BJ6 DTD 10/24/2008 7.9%	P	2010-06-08	2010-11-02
	5000. PFIZER INC DTD 3/24/09 4.45% 03/15/2012	P	2009-03-18	2010-02-04
	1000. PFIZER INC DTD 3/24/09 6.2% 03/15/2019	P	2010-02-05	2010-05-10
	3969.754 PIONEER SELECT MID CAP GROWTH Y	P	2007-01-10	2010-02-18
	50. PRAXAIR INC	P	2005-02-03	2010-05-11
	100. SOUTHERN CO	P	2005-02-03	2010-05-11
	180. SPECTRA ENERGY CORP	P	2008-02-19	2010-05-11
	1000. SUNTRUST BANK ATLANTA 6.375% 04/01/2	P	2010-06-09	2010-12-10
	5000. SUNTRUST BANK ATLANTA 6.375% 04/01/2	P	2007-12-10	2010-12-10
	625. SYSCO CORP COM	P	2008-01-29	2010-02-17
	1000. TALISMAN ENERGY INC DTD 6/1/09 7.75% 06/	P	2009-09-15	2010-04-07
	70. 3M CO COM	P	2006-03-02	2010-05-11
	1000. TIME WARNER CABLE 6.75% 07/01/2018	P	2009-08-11	2010-04-07
	5000. US BANK NA 6.375% DTD 7/26/01 DUE 8/1/2011	P	2007-12-10	2010-04-29
	1000. UNITED STATES TREAS BDS DTD 8/15/93 6.25% 08/15/2023	P	2009-06-10	2010-09-13
	4000. UNITED STATES TREASURY N/B DTD 02/15/08	P	2009-01-30	2010-05-19
	1006.7 UNITED STATES TREASURY INFLATION INDEX BOND DTD 07/15/08 1.375%	P	2009-11-10	2010-05-10
	5000. UNITED STATES TREASURY N/B DTD 2/28/09 .	P	2010-06-08	2010-12-10
	1000. UNITED STATES TREASURY N/B DTD 2/28/09 .	P	2010-08-09	2010-12-10
	5000. UNITED STATES TREASURY N/B DTD 11/30/09	P	2009-12-14	2010-04-26
	85000. UNITED STATES TREASURY N/B DTD 11/30/09	P	2010-05-13	2010-06-08
	20000. UNITED STATES TREASURY N/B DTD 11/30/09	P	2010-05-13	2010-08-09
	1000. UNITED STATES TREASURY N/B DTD 11/30/09	P	2010-05-13	2010-09-13
	6000. UNITED STATES TREASURY N/B DTD 11/30/09	P	2010-05-13	2010-11-16
	7000. UNITED STATES TREASURY N/B DTD 11/30/09	P	2010-05-13	2010-12-10
	640. WELLS FARGO & CO NEW COM	P	2008-02-19	2010-02-17
	. SECURITIES LITIGATION SETTLEMENT PROCEEDS			2010-12-07

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	3,215	2,988	227
b	2,124	1,991	133
c	2,094	1,995	99
d	1,057	995	62
e	6,360	5,917	443
	2,546	3,130	-584
	4,402	3,997	405
	1,006	997	9
	5,119	5,029	90
	5,199	6,220	-1,021
	2,624	2,893	-269
	13,568	19,413	-5,845
	3,183	1,843	1,340
	1,013	1,019	-6
	1,031	1,019	12
	4,141	3,149	992
	3,488	2,729	759
	4,224	4,118	106
	16,444	17,793	-1,349
	12,192	11,179	1,013
	4,187	3,447	740
	14,029	19,516	-5,487
	5,476	5,270	206
	16,927	9,871	7,056
	3,221	2,695	526
	318	322	-4
	164	165	-1
	2,015	2,037	-22
	436	441	-5
	376	380	-4
	250	253	-3
	329	332	-3
	312	315	-3
	11,368	10,656	712
	319	323	-4
	205	219	-14
	236	252	-16
	299	320	-21
	305	327	-22
	345	369	-24
	318	340	-22
	1,350	1,338	12
	1,003	994	9
	1,672	1,657	15
	1,369	1,357	12
	1,094	1,084	10
	984	975	9
	1,031	1,022	9
	1,053	1,043	10
	1,240	1,229	11
	1,379	1,366	13
	1,551	1,536	15
	1,418	1,405	13
	147	159	-12
	47	51	-4
	3,785	3,813	-28
	185	201	-16
	1,212	1,023	189
	139	149	-10
	126	136	-10
	201	216	-15
	164	177	-13
	197	211	-14
	240	258	-18
	64	69	-5
	62	67	-5
	66	71	-5
	64	70	-6
	63	68	-5
	68	74	-6
	766	757	9
	632	625	7
	625	618	7
	872	863	9
	804	796	8
	2,330	2,306	24
	639	632	7
	614	607	7
	661	654	7
	686	679	7
	651	644	7
	667	659	8
	295	297	-2
	257	258	-1
	211	212	-1
	237	238	-1
	253	254	-1
	428	430	-2
	149	150	-1
	298	300	-2
	209	210	-1
	226	227	-1
	269	270	-1
	219	220	-1
	385	381	4
	394	390	4
	371	368	3
	375	372	3
	377	373	4
	686	679	7
	358	355	3
	367	364	3
	369	365	4
	461	457	4
	349	345	4
	383	379	4
	224	244	-20
	238	258	-20
	363	394	-31
	412	447	-35
	228	247	-19
	232	252	-20
	1,984	2,005	-21
	1,627	1,644	-17
	1,611	1,628	-17
	1,492	1,508	-16
	6,511	6,579	-68
	978	989	-11
	1,130	1,141	-11
	1,533	1,550	-17
	1,606	1,623	-17
	884	894	-10
	1,008	1,018	-10
	1,353	1,367	-14
	129	137	-8
	41	44	-3
	155	166	-11
	128	137	-9
	134	143	-9
	161	172	-11
	22,138	30,616	-8,478
	79,898	126,000	-46,102
	8,234	18,319	-10,085
	3	6	-3
	933	1,051	-118
	3,129	3,678	-549
	4,503	9,168	-4,665
	1,076	1,008	68
	1,082	1,008	74
	24,103	16,711	7,392
	3,165	2,779	386
	5,107	4,967	140
	1,208	1,191	17
	20,801	24,622	-3,821
	6,651	6,528	123
	4,146	3,214	932
	4,841	4,882	-41
	2,165	2,011	154
	3,245	3,016	229
	4,399	4,939	-540
	1,009	997	12
	13,738	19,687	-5,949
	13,557	11,093	2,464
	8,009	3,985	4,024
	6,009	2,710	3,299
	1,114	1,018	96
	4,477	4,070	407
	3,361	3,504	-143
	7,215	7,812	-597
	991	996	-5
	3,955	3,997	-42
	5,132	4,996	136
	4,173	1,506	2,667
	22,318	30,616	-8,298
	1,317	1,322	-5
	3,940	3,323	617
	1,313	1,284	29
	5,330	5,043	287
	1,145	1,123	22
	58,792	63,000	-4,208
	4,023	2,155	1,868
	3,487	3,356	131
	4,045	4,242	-197
	1,016	1,032	-16
	5,081	5,234	-153
	17,757	17,626	131
	1,187	1,168	19
	5,960	5,127	833
	1,114	1,099	15
	5,312	5,228	84
	1,321	1,160	161
	4,113	4,560	-447
	1,029	1,024	5
	5,008	5,021	-13
	1,002	1,004	-2
	4,997	4,993	4
	85,169	85,003	166
	20,096	20,026	70
	1,004	1,001	3
	6,027	6,008	19
	7,029	7,009	20
	17,414	20,485	-3,071
	20		20

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			227
b			133
c			99
d			62
e			443
			-584
			405
			9
			90
			-1,021
			-269
			-5,845
			1,340
			-6
			12
			992
			759
			106
			-1,349
			1,013
			740
			-5,487
			206
			7,056
			526
			-4
			-1
			-22
			-5
			-4
			-3
			-3
			-3
			712
			-4
			-14
			-16
			-21
			-22
			-24
			-22
			12
			9
			15
			12
			10
			9
			9
			10
			11
			13
			15
			13
			-12
			-4
			-28
			-16
			189
			-10
			-10
			-15
			-13
			-14
			-18
			-5
			-5
			-5
			-6
			-5
			-6
			9
			7
			7
			9
			8
			24
			7
			7
			7
			7
			7
			8
			-2
			-1
			-1
			-1
			-1
			-2
			-1
			-2
			-1
			-1
			-1
			-1
			4
			4
			3
			3
			4
			7
			3
			3
			4
			4
			4
			4
			-20
			-20
			-31
			-35
			-19
			-20
			-21
			-17
			-17
			-16
			-68
			-11
			-11
			-17
			-17
			-10
			-10
			-14
			-8
			-3
			-11
			-9
			-9
			-11
			-8,478
			-46,102
			-10,085
			-3
			-118
			-549
			-4,665
			68
			74
			7,392
			386
			140
			17
			-3,821
			123
			932
			-41
			154
			229
			-540
			12
			-5,949
			2,464
			4,024
			3,299
			96
			407
			-143
			-597
			-5
			-42
			136
			2,667
			-8,298
			-5
			617
			29
			287
			22
			-4,208
			1,868
			131
			-197
			-16
			-153
			131
			19
			833
			15
			84
			161
			-447
			5
			-13
			-2
			4
			166
			70
			3
			19
			20
			-3,071
			20

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-70,210
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 . . . . . . . . . . . . .		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? Yes No

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	74,689	1,466,091	0.050944
2008	136,589	1,721,986	0.079321
2007	50,987	1,955,438	0.026074
2006	47,430	1,832,749	0.025879
2005	40,399	1,738,598	0.023237

2	Total of line 1, column (d) ......................	2	0.205455
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	0.041091
4	Enter the net value of noncharitable-use assets for 2010 from Part X, line 5.....	4	1,600,773
5	Multiply line 4 by line 3.......................	5	65,777
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	438
7	Add lines 5 and 6.........................	7	66,215
8	Enter qualifying distributions from Part XII, line 4..............	8	73,156
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)

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	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	438
	hereand 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	438
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	438
6	Credits/Payments:

a	2010 estimated tax payments and 2009 overpayment credited to 2010	6a	69
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	69
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	369
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2011 estimated tax	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of

the instructions for definition)?.............................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If “Yes,” attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If “Yes,” has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If “Yes,” attach the statement required by General Instruction T.

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?................

Yes

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.

Yes

Enter the states to which the foundation reports or with which it is registered (see page 19 of the

instructions) bullet

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 .

Yes

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...........................

Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.

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) .......

Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

REGIONS BANK Telephone no. bullet

(251) 690-1024

Located at bullet

11 N WATER STREET 25TH FLOORMOBILEAL ZIP+4 bullet

36602

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

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? .................

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)

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?.........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?.................YesNo

(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.).........YesNo

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)?...

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?.............

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)):

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?...............YesNo

If “Yes,” list the years bullet

20, 20, 20, 20

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.) .........

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business

enterprise at any time during the year?.....................YesNo

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.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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?

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))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(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)...YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

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)?

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?............YesNo

If “Yes,” attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay

premiums on a personal benefit contract?....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If “Yes” to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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
REGIONS BANK	TRUSTEE 1	18,441
PO BOX 2918 CLEARWATER,FL337572918	TRUSTEE 1	18,441

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...................				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............. 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


2


3


4

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.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

1,625,150

Average of monthly cash balances.......................

Fair market value of all other assets (see page 24 of the instructions)............

Total (add lines 1a, b, and c).........................

1,625,150

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) ..............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d..........................

1,625,150

Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25

of the instructions) ............................

24,377

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

1,600,773

Minimum investment return. Enter 5% of line 5...................

80,039

Part XI

Distributable Amount (see page 25 of the instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

80,039

Tax on investment income for 2010 from Part VI, line 5......

438

Income tax for 2010. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

438

Distributable amount before adjustments. Subtract line 2c from line 1............

79,601

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4.............................

79,601

Deduction from distributable amount (see page 25 of the instructions)...........

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,

line 1.................................

79,601

Part XII

Qualifying Distributions (see page 25 of the instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

73,156

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes................................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

73,156

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)............

438

Adjusted qualifying distributions. Subtract line 5 from line 4...............

72,718

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)

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					79,601
2 Undistributed income, if any, as of the end of 2010:
a Enter amount for 2009 only.......				67,952
b Total for prior years:2008, 20, 20			0
3 Excess distributions carryover, if any, to 2010:
a From 2005.......	0
b From 2006.......	0
c From 2007.......	0
d From 2008.......	0
e From 2009.......	0
fTotal of lines 3a through e.........		0
4Qualifying distributions for 2010 from Part
XII, line 4: $ 73,156
a Applied to 2009, but not more than line 2a				67,952
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.....					5,204
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2010.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount—see page 27 of the instructions ...			0
e Undistributed income for 2009. Subtract line 4a from line 2a. Taxable amount—see page 27 of the instructions ...........				0
f Undistributed income for 2010. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2011 ..........					74,397
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see page 27 of the instructions) ...........		0
8Excess distributions carryover from 2005 not applied on line 5 or line 7 (see page 27 of the instructions) .............		0
9Excess distributions carryover to 2011. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2006....	0
b Excess from 2007....	0
c Excess from 2008....	0
d Excess from 2009....	0
e Excess from 2010....	0

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 section4942(j)(3) or4942(j)(5)

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	(e) Total

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see page 28 of the instructions) to individuals or organizations
under other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2010)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
SHIPPENSBURG UNIVERSITY FOUNDATION 1871 OLD MAIN DRIVE SHIPPENSBURG,PA17257	NONE	PUBLIC	TO PROVIDE SCHOLARSHIPS PER TERMS OF TRUST	68,668
Total ................................. 3a				68,668

bApproved for future payment

Total .................................. 3b

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
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	17
4 Dividends and interest from securities....			14	58,392
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	-70,210
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aFEDERAL TAX REFUND			14	447
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				-11,354

13Total. Add line 12, columns (b), (d), and (e)...................

13-11,354

(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.	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)

Page 12

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section

Yes

501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash....................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements............................

1b(4)

(5) Loans or loan guarantees..............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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?...........YesNo

If “Yes,” complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

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.

	Signature of officer or trustee	Date	Title

Preparer's Signature	Date	Check if self- employed	PTIN
Firm's name Firm's address		Firm's EIN
		Phone no.

Form 990-PF (2010)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
A T & T INC 05/15/18 5.6%	5,002	5,580
B P CAPITAL PLC 5.25% 11/07/13
DUKE ENERGY CALLABLE 6.25%
GENERAL ELECTRIC 5% 2/1/13	11,313	11,759
HSBC FINANCE 4.625% 9/15/10
INGERSOLL RAND 6.875% 8/15/18
KELLOGG CO 5.125% 12/3/12
MCDONALDS COPR 5.35% 3/1/18
MERRILL LYNCH 6.11% 1/29/37	5,602	5,416
MORGAN STANLEY 5.05% 1/21/11
ORACLE 5.75% 4/15/18	4,998	5,720
PEPSICO 7.9% 4/15/2018
SUNTRUST CORP 6.375% 4/1/11
TRAVLERS CO CALLABLE 6.25%	4,771	5,557
U S BANK 6.375% 8/1/11
VERIZON COMM 5.55% 2/15/16	5,034	5,605
WACHOVIA CORP 5.75% 6/15/17	4,972	5,535
FHLMC POOL 6% 12/1/37
FHLMC POOL 5% 9/1/21	31,087	33,415
FNMA POOL 5.5% 2/1/37	19,339	20,959
FNMA POOL 5.5% 2/1/22	5,727	6,143
FNMA POOL 5% 10/1/21	12,883	13,893
FNMA POOL 6% 7/1/37	34,284	36,921
ABBOTT LABS 5.125% 4/1/19
CVS/CAREMARK 6.125% 9/15/39	6,131	6,411
CATERPILLAR 7.9% 12/15/18	5,265	6,435
COMCAST 5.7% 7/1/19	6,152	6,560
CONOCOPHILIPS 6.5% 2/1/39	5,079	5,946
CREDIT SUISSE NY 5.5% 5/1/14	11,721	12,063
GOLDMAN SACHS 6% 5/1/14	6,173	6,610
HESS CORP 8.125% 2/15/19	6,009	6,317
JP MORGAN CHASE 6.3% 4/23/19	4,962	5,691
MERRILL LYNCH 6.875% 4/25/18	6,042	6,566
MORGAN STANLEY 5.625% 9/23/19	5,977	6,118
PETROBRAS INTL 5.75% 1/20/18
PFIZER 4.45% 3/15/12
TALISMAN ENERGY 7.75% 6/1/19	5,918	6,173
TARGET CALLABLE 5.375% 5/1/17	4,828	5,603
TIME WARNER 6.75% 7/1/18	5,536	5,828
PIMCO HIGH YIELD INSTL	20,000	22,628
PIONEER BOND FUND CL Y	48,600	49,342
PIONEER STRATEGIC INC CL Y	42,180	43,854
VANGUARD BOND INDEX-SIG	50,000	50,478
FHLMC POOL 5% 12/01/2023	5,908	5,836
FNMA POOL 5.5% 12/01/2035	6,924	6,931
FNMA POOL 5.5% 12/01/2018	2,295	2,285
FNMA POOL 6% 10/1/2038	8,117	8,183
FMMA POOL 5% 5/1/2023	3,085	3,068
BB&T CORP 3.85% 7/27/2012	6,256	6,242
BARCLAYS BANK 3.9% 4/7/2015	6,041	6,187
CSX CORP 6.25% 4/1/2015	5,625	5,682
CA INC 5.375% 12/1/2019	6,169	6,203
CITIGROUP 6% 12/13/2013	6,546	6,556
DIRECTV HLDGS 3.55% 3/15/2015	6,218	6,096
GOLDMAN SCHAS 7.5% 2/15/2019	5,507	5,830
HEWLET PACK 2.2% 12/1/2015	4,996	4,924
KRAFT FOOD 4.125%2/9/2016	6,062	6,298
PETROBRAS INT 5.75% 10/20/2020	6,007	6,225
PFIZER INC 6.2% 3/15/2019	5,666	5,857
PRUDENTIAL FIN 4.5% 11/15/2020	6,954	6,846

Name of Stock	End of Year Book Value	End of Year Fair Market Value
A T & T	16,050	17,775
ABBOTT LABS	13,682	14,373
AUTOMATIC DATA PROCESSING	13,044	15,272
B B & T CORP	16,669	10,910
BRISTOL MYERS SQUIBB	12,964	13,240
CARNIVAL CORP
CHEVRON	7,839	16,425
COCA COLA	11,013	17,100
CONAGRA FOODS	13,530	12,984
CONSOLIDATED EDISON
DOMINION RES INC VA NEW	12,467	15,379
DUPONT
DUKE ENERGY	19,709	18,611
EATON CORP	18,330	19,287
EMERSON
EXELON CORP	16,019	12,492
EXXON CORP	11,858	16,086
FIRSTENERGY CORP
GALLAGER ARTHUR J CO	16,080	16,576
GENERAL ELECTRIC	14,968	15,547
GENERAL MILLS
GENUINE PARTS CO	11,737	17,199
HOME DEPOT
ILLINOIS TOOL WORKS	14,440	15,219
INTEL CORP	13,561	13,144
J P MORGAN CHASE	10,217	14,635
JOHNSON & JOHNSON	14,324	13,916
KIMBERLY CLARK	15,431	14,184
ELI LILLY AND CO
MCDONALDS CORP	6,492	15,352
MERCK AND CO	15,067	15,497
MICROSOFT CORP	12,745	14,513
MORGAN STANLEY	17,296	10,748
OCCIDENTAL PETEROLUM	5,421	17,658
PAYCHEX INC	20,495	17,464
PRAXAIR INC	8,765	18,617
PROGRESS ENERGY	19,226	18,914
PRUDENTIAL FINANCIAL	18,228	15,265
SOUTHERN CO	14,375	16,439
SPECTRA ENERGY	14,846	15,744
SYSCO CORP
3M CORP	12,451	14,669
U S BANK CORP	15,175	13,890
VERIZON COMM	15,978	19,142
WELLS FARGO AND CO
FEDERATED KAUFMAN SMALL CAP
OPPENHEIMER MAIN ST SMALL CAP
FIDELITY ADVISOR DIV INTL
PIONEER SELECT MID CAP GROWTH
AFLAC INC	10,984	12,697
CATERPILLAR INC	10,948	17,795
CLOROX CO	11,187	11,707
CONOCO PHILLIPS	11,113	15,323
LEGGETT & PLATT INC	11,562	12,518
MATTEL INC	11,158	13,096
MCGRAW HILL INC	11,158	11,651
MEADWESTVACO CORP	13,243	15,696
NEXTRA ENERGY INC	12,997	12,998
NORFOLK SOUTHERN CORP	11,077	14,135
NUCOR CORP	11,052	11,393
PHILLIPS MORRIS INT INC	11,202	13,169
TRAVELERS COMPANIES INC	11,135	11,978
VF CORP	11,100	12,496
WASTE MANAGEMENT INC	11,050	12,351
ISHARES S&P MIDCAP 400	50,013	62,123
ISHARES RUSSELL 2000	49,888	62,592
ISHARES MSCI EAFE INDEX FUND	80,779	88,786

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FEDERAL TAX PAYMENT - PRIOR YE	447	0		0
FOREIGN TAXES ON QUALIFIED FOR	202	202		0