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 03-01-2010 , and ending 02-28-2011
G
Check all that apply:
Name of foundation
WAYNE C STEWART FOUNDATION 050009586000
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 3168   Room/suite
City or town, state, and ZIP code
PORTLAND, OR97208
A Employer identification number

91-6574050
B Telephone number (see page 10 of the instructions)

(503) 275-4327
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$5,910,603J 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      
4 Dividends and interest from securities...... 254,919 254,919  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 202,088
b Gross sales price for all assets on line 6a 919,050
7 Capital gain net income (from Part IV, line 2)... 202,088
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).......      
12 Total. Add lines 1 through 11........ 457,007 457,007  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 58,285 52,456   5,829
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)....... Click to see attachment 1,500 0 0 1,500
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 13,060     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 842     842
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 73,687 52,456 0 8,171
25 Contributions, gifts, grants paid........ 254,474 254,474
26 Total expenses and disbursements. Add lines 24 and 25 328,161 52,456 0 262,645
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 128,846
b Net investment income (if negative, enter -0-) 404,551
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...............      
2 Savings and temporary cash investments.......... 329,069 104,701 104,701
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)........ 2,967,027 Click to see attachment3,319,725 5,031,568
c Investments—corporate bonds (attach schedule)........ 800,000 Click to see attachment800,000 774,334
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)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,096,096 4,224,426 5,910,603
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
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......... 4,096,096 4,224,426
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).................... 4,096,096 4,224,426
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 4,096,096 4,224,426
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 4,096,096
2 Enter amount from Part I, line 27a...................... 2 128,846
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 14,094
4 Add lines 1, 2, and 3.......................... 4 4,239,036
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 14,610
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 4,224,426
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 181. ARCELORMITTAL NY REGISTERED   2010-02-11 2010-07-14
b 172. ARCELORMITTAL NY REGISTERED   2010-02-11 2010-07-27
c 496. AXA A D R   2008-02-28 2010-12-15
d 682. BANCO SANTANDER CENT HISPANO A D R   2008-02-28 2010-05-06
e 484. BANCO SANTANDER CENT HISPANO A D R   2009-06-10 2010-05-10
601. BANCO SANTANDER CENT HISPANO A D R   2008-02-28 2010-05-10
164. BOC HONG KONG HLDGS LTD A D R   2008-06-13 2010-12-10
395. DESARROLLADORA HOMEX A D R   2010-02-16 2011-02-25
97. DIAGEO PLC SPONSORED A D R   2008-09-11 2010-09-28
193. E ON A G A D R   2008-03-31 2010-09-15
1200. ECOLAB INC   2001-12-21 2010-11-17
. ENRON CORP     2011-01-21
. ENRON CORP     2011-01-21
74. DELHAIZE GROUP SPONS A D R   2010-07-15 2010-10-12
64. FOMENTO ECONOMICO MEX SP A D R   2008-02-28 2011-02-16
2479. FREEPORT MCMORAN COPPER GOLD   2007-03-19 2010-11-17
.0119 FRONTIER COMMUNICATIONS CORP   2001-10-24 2010-07-13
212. HONDA MOTOR CO LTD A D R   2008-02-28 2010-11-08
472. INTESA SANPAOLO A D R   2009-09-10 2010-03-10
3261.33 LAUDUS ROSEN INTL S C FD CL INV   2007-05-14 2010-05-05
. LUCENT TECHNOLOGIES INC     2010-03-16
. LUCENT TECHNOLOGIES INC     2010-03-16
500. MCDONALDS CORP   1980-11-07 2010-06-09
1000. MCDONALDS CORP   1980-11-07 2010-11-17
1000. MCDONALDS CORP   1980-11-07 2010-12-09
1662. MITSUBISHI UFJ FINL GRP A D R   2008-05-09 2010-10-15
24. MITSUI & CO LTD SPSD ADR   2009-12-10 2010-08-12
927. NATIONAL BANK OF GREECE A D R   2009-09-29 2010-03-10
1531. NATIONAL BANK OF GREECE A D R   2009-12-16 2010-04-27
96. NESTLE SA SPONSORED A D R   2008-02-28 2010-11-09
252. NIDEC CORPORATION A D R   2010-04-23 2010-09-15
104. NOVARTIS AG A D R   2008-08-28 2010-12-16
152. RWE AG A D R   2008-02-28 2010-10-15
156. RIO TINTO PLC A D R   2009-08-19 2010-05-10
214. ROCHE HLDG LTD A D R   2008-02-28 2011-01-14
240. STATOIL ASA A D R   2008-02-28 2010-11-22
355. STERLITE INDS INDIA A D S   2009-05-06 2010-06-09
91. TELEFONICA SA SPON A D R   2008-02-28 2010-11-09
133. TELEFONICA SA SPON A D R   2009-03-04 2011-01-10
330. TENARIS SA ADR   2010-01-13 2010-06-09
114. TOTAL S A A D R   2008-02-28 2010-03-10
464. UNILEVER PLC SPSD ADR   2009-03-12 2011-01-31
.61 WEYERHAEUSER CO   1993-03-12 2010-09-15
5340.61 WEYERHAEUSER CO   2010-09-01 2010-11-17
3699.39 WEYERHAEUSER CO   1988-12-23 2010-11-17
138. CENTRAL EUROPEAN MEDIA ENT A   2009-04-14 2010-08-06
(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 5,435   7,331 -1,896
b 5,478   6,292 -814
c 8,375   17,497 -9,122
d 6,944   12,567 -5,623
e 5,813   5,441 372
7,218   11,075 -3,857
10,787   8,493 2,294
11,164   10,464 700
6,718   7,138 -420
5,630   12,227 -6,597
57,376   22,839 34,537
253     253
253     253
5,105   5,878 -773
3,479   2,721 758
243,973   152,669 91,304
       
7,691   6,663 1,028
10,864   11,286 -422
36,592   77,000 -40,408
12     12
12     12
34,290   551 33,739
78,229   1,102 77,127
77,977   1,102 76,875
7,634   15,617 -7,983
6,455   6,734 -279
3,986   6,622 -2,636
4,023   8,821 -4,798
5,506   4,616 890
5,640   6,562 -922
6,062   5,825 237
10,553   18,612 -8,059
7,726   5,949 1,777
7,612   10,513 -2,901
4,953   7,546 -2,593
4,713   3,443 1,270
7,009   8,034 -1,025
8,606   10,248 -1,642
11,711   13,500 -1,789
6,635   8,789 -2,154
13,520   10,197 3,323
10   25 -15
91,530   81,954 9,576
63,402   100,668 -37,266
3,161   2,351 810
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       -1,896
b       -814
c       -9,122
d       -5,623
e       372
      -3,857
      2,294
      700
      -420
      -6,597
      34,537
      253
      253
      -773
      758
      91,304
       
      1,028
      -422
      -40,408
      12
      12
      33,739
      77,127
      76,875
      -7,983
      -279
      -2,636
      -4,798
      890
      -922
      237
      -8,059
      1,777
      -2,901
      -2,593
      1,270
      -1,025
      -1,642
      -1,789
      -2,154
      3,323
      -15
      9,576
      -37,266
      810
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 2 202,088
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 299,417 4,838,502 0.061882
2008 258,922 5,282,780 0.049012
2007 158,257 5,746,327 0.027541
2006 2,611 2,836,327 0.000921
2005      
2 Total of line 1, column (d) ...................... 2 0.139356
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 0.034839
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 5,254,414
5 Multiply line 4 by line 3....................... 5 183,058
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 4,046
7 Add lines 5 and 6......................... 7 187,104
8 Enter qualifying distributions from Part XII, line 4.............. 8 262,645
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 4,046
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 4,046
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 4,046
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 7,152
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 7,152
8 Enter any penalty for underpayment of estimated tax. if 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.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 3,106
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet3,106 Refunded Bullet 11 0
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)bulletOR
    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 Telephone no.bullet (503) 275-4327
    Located atbullet555 SW OAKPORTLANDOR ZIP+4bullet97204
    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
     
    No
    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 TRUSTEE
    1     		59,785    
    PO BOX 3168
    PORTLAND,OR97208
    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
    5,091,742
    b
    Average of monthly cash balances.......................
    1b
    242,688
    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
    5,334,430
    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
    5,334,430
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    80,016
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,254,414
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    262,721
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    262,721
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    4,046
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,046
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    258,675
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    10,775
    5
    Add lines 3 and 4.............................
    5
    269,450
    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
    269,450
    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
    262,645
    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
    262,645
    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
    4,046
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    258,599
    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 7 269,450
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 203,456
    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: bullet$ 262,645
    a Applied to 2009, but not more than line 2a 203,456
    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..... 59,189
    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 ..........     		210,261
    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)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    LINDA THOMAS BUSH
    1025 NW BOND ST
    BEND,OR97701
    (541) 465-4120
    bThe form in which applications should be submitted and information and materials they should include:
    CONTACT ABOVE
    cAny submission deadlines:
    CONTACT ABOVE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    RESIDENTS OF GRANT COUNTY, OR
    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
    BLUE MOUNTAIN COMMUNITY COLLEGE
    2411 NW CARDEN
    PENDLETON,OR97801     		NONE PUBLIC SCHOLARSHIP 6,167
    BROWN MACKIE COLLEGE
    9050 W OVERLAND RD STE 100
    BOISE,ID83709     		NONE PUBLIC SCHOLARSHIP 600
    BROWN UNIVERSITY
    BOX 1827
    PROVIDENCE,RI02912     		NONE PUBLIC SCHOLARSHIP 1,800
    BUTTE COMMUNITY COLLEGE
    604 E WALKER ST
    ORLAND,CA95963     		NONE PUBLIC SCHOLARSHIP 1,800
    BRIGHAM YOUNG UNIVERSITY-IDAHO
    100 KIMBALL BUILDING
    REXBURG,ID83460     		NONE GENERAL SCHOLARSHIP 1,800
    CHEMEKETA COMMUNITY COLLEGE
    PO BOX 14007
    SALEM,OR97309     		NONE PUBLIC SCHOLARSHIP 1,800
    CENTRAL OREGON COMMUNITY COLLEGE
    2600 NW COLLEGE WAY
    BEND,OR97701     		NONE PUBLIC SCHOLARSHIP 16,300
    COLLEGE OF IDAHO
    2112 CLEVELAND BLVD
    CALDWELL,ID83605     		NONE PUBLIC SCHOLARSHIP 1,800
    CONCORDIA UNIVERSITY
    FINANCIAL AID OFFICE
    2800 NE HOLMAN
    PORTLAND,OR97211     		NONE PUBLIC SCHOLARSHIP 1,800
    CORBAN UNIVERSITY
    5000 DEER PARK DRIVE SE
    SALEM,OR97301     		NONE PUBLIC SCHOLARSHIP 1,800
    COLLEGE OF WESTERN IDAHO
    6056 BIRCH LANE
    NAMPA,ID83687     		NONE PUBLIC SCHOLARSHIP 1,800
    DAWSON COMMUNITY COLLEGE
    300 COLLEGE DRIVE
    GLENDIVE,MT59330     		NONE PUBLIC SCHOLARSHIP 1,800
    EASTERN OREGON UNIVERSITY
    ONE UNIVERSITY BLVD INLOW HALL ROOM
    LA GRANDE,OR97850     		NONE PUBLIC SCHOLARSHIP 52,200
    ITT TECHNICAL INSTITUTE
    6035 NE 78TH COURT
    PORTLAND,OR97218     		NONE PUBLIC SCHOLARSHIP 1,800
    LANE COMMUNITY COLLEGE
    4000 EAST 30TH AVENUE
    EUGENE,OR97405     		NONE PUBLIC SCHOLARSHIP 2,566
    LINN-BENTON COMMUNITY COLLEGE
    6500 PACIFIC BLVD
    ALBANY,OR97321     		NONE PUBLIC SCHOLARSHIP 7,200
    LEWIS-CLARK STATE COLLEGE
    500 8TH AVENUE
    LEWISTON,ID83501     		NONE PUBLIC SCHOLARSHIP 1,800
    LINFIELD COLLEGE
    900 SE BAKER ST
    MCMINNVILLE,OR97128     		NONE PUBLIC SCHOLARSHIP 3,600
    LOWER COLUMBIA COLLEGE
    1600 MAPLE ST
    LONGVIEW,WA98632     		NONE PUBLIC SCHOLARSHIP 1,800
    MT HOOD COMMUNITY COLLEGE
    26000 S E STARK STREET
    GRESHAM,OR97030     		NONE PUBLIC SCHOLARSHIP 1,800
    NEUMONT UNIVERSITY
    10701 SOUTH RIVER FRONT PARKWAY
    SOUTH JORDAN,UT84095     		NONE PUBLIC SCHOLARSHIP 1,800
    NORTHWEST NAZARENE UNIVERSITY
    FINANCIAL AID OFFICE
    623 HOLLY ST
    NAMPA,ID83686     		NONE PUBLIC SCHOLARSHIP 10,800
    OREGON HEALTH AND SCIENCE UNIVERSIT
    3181 SW SAM JACKSON PK RD L109
    PORTLAND,OR97201     		NONE PUBLIC SCHOLARSHIP 1,800
    OHSU-LAGRANDE
    ONE UNIVERSITY BLVD
    LA GRANDE,OR97850     		NONE PUBLIC SCHOLARSHIP 1,800
    OREGON INSTITUTE OF TECHNOLOGY
    FINANCIAL AID OFFICE
    3201 CAMPUS DR
    KLAMATH FALLS,OR97601     		NONE PUBLIC SCHOLARSHIP 10,000
    OREGON STATE UNIVERSITY
    218 KERR ADMINISTRATION BLDG
    CORVALLIS,OR97311     		NONE PUBLIC SCHOLARSHIP 42,600
    OSU-CASCADES
    2600 NW COLLEGE WAY
    BEND,OR97701     		NONE PUBLIC SCHOLARSHIP 1,800
    PORTLAND COMMUNITY COLLEGE
    FINANCIAL AID OFFICE
    PO BOX 19000
    PORTLAND,OR97280     		NONE PUBLIC SCHOLARSHIP 6,766
    PACIFIC LUTHERAN UNIVERSITY
    12180 PARK AVENUE S
    TACOMA,WA98447     		NONE PUBLIC SCHOLARSHIP 1,800
    PORTLAND STATE UNIVERSITY
    PO BOX 751
    PORTLAND,OR97207     		NONE PUBLIC SCHOLARSHIP 6,000
    PACIFIC UNIVERSITY
    2043 COLLEGE WAY
    FOREST GROVE,OR97116     		NONE PUBLIC SCHOLARSHIP 900
    SPOKANE FALLS COMM COLL
    3410 W FORT GEORGE WRIGHT DR
    SPOKANE,WA99224     		NONE PUBLIC SCHOLARSHIP 1,800
    SOUTHWESTERN COLLEGE
    900 OTAY LAKES ROAD
    CHULA VISTA,CA91910     		NONE PUBLIC SCHOLARSHIP 900
    THOMAS JEFFERSON SCHOOL OF LAW
    2121 SAN DIEGO AVE
    SAN DIEGO,CA92110     		NONE PUBLIC SCHOLARSHIP 1,800
    TRIPLE CROWN ACADEMY
    200 COUNTY ROAD 197
    HUTTO,TX78634     		NONE PUBLIC SCHOLARSHIP 200
    TREASURE VALLEY COMMUNITY COLLEGE
    650 COLLEGE BLVD
    ONTARIO,OR97914     		NONE PUBLIC SCHOLARSHIP 13,675
    UNIVERSITY OF MONTANA
    32 CAMPUS DRIVE
    MISSOULA,MT59812     		NONE PUBLIC SCHOLARSHIP 1,800
    UNIVERSITY OF OREGON
    ROOM 260 OREGON HALL
    EUGENE,OR97403     		NONE PUBLIC SCHOLARSHIP 1,800
    UNIVERSITY OF IDAHO
    PO BOX 444291
    MOSCOW,ID83844     		NONE PUBLIC SCHOLARSHIP 15,400
    UNIVERSITY OF PHOENIX
    4025 S RIVERPOINT PKWY
    PHOENIX,AZ85040     		NONE PUBLIC SCHOLARSHIP 1,800
    WESTERN OREGON UNIVERSITY
    345 N MONMOUTH AVE
    MONMOUTH,OR97361     		NONE PUBLIC SCHOLARSHIP 6,400
    WARNER PACIFIC COLLEGE
    2219 SE 68TH AVE
    PORTLAND,OR97215     		NONE PUBLIC SCHOLARSHIP 1,800
    WILLAMETTE UNIVERSITY
    900 STATE STREET
    SALEM,OR97301     		NONE PUBLIC SCHOLARSHIP 3,600
    WALLA WALLA COMMUNITY COLLEGE
    500 TAUSICK WAY
    WALLA WALLA,WA99362     		NONE PUBLIC SCHOLARSHIP 5,400
    Total .................................bullet 3a 254,474
    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          
    4 Dividends and interest from securities....     14 254,919  
    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     18 202,088  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   457,007  
    13Total. Add line 12, columns (b), (d), and (e)...................
    13457,007
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash....................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements............................
    1b(4)
     
    No
    (5) Loans or loan guarantees..............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2010 AccountingFeesSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREP FEES 1,500     1,500

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AMERICAN CENTURY INTL BOND 250,000 242,225
    FAM HIGH INCOME BOND FD 550,000 532,109

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMGEN INC 34,828 30,798
    ANADARKO PETE CORP 21,564 65,464
    AT&T INC 71,900 113,520
    BOEING CO 96,990 288,040
    CITIGROUP INC 15,221 3,594
    DISCOVER FINL SVCS 1,648 2,175
    ECOLAB INC    
    EXXON MOBIL CORP 31,460 68,424
    FED EX CORP 14,874 31,507
    FREEPORT-MCMORAN COPPER & GOLD    
    INTERNATIONAL BUSINESS MACHINE 78,379 518,016
    MCDONALDS CORP 4,959 340,560
    MONSANTO CO 5,514 245,001
    MORGAN STANLEY 8,344 5,936
    PFIZER INC 192,072 342,318
    SOUTHWEST AIRLS CO 8,217 8,872
    VERIZON COMMUNICATIONA INC 13,110 11,076
    WEYERHAEUSER CO    
    ZIMMER HOLDINGS INC 2,762 24,936
    AMER CENT CAPITAL VALUE FD 81,000 73,468
    LAUDUS INTL MRKTMASTERS INV FD 390,000 347,505
    LAUDUS ROSEN INTL S C FD CL    
    T ROWE PRICE GROWTH STK CL ADV 82,000 105,035
    T ROWE PRICE INTL GR &INC ADV 34,000 39,825
    ISHARES S&P SMALL CAP 600 542,928 615,674
    FUJIFILM HLDGS CORP 15,649 19,729
    AXA ADR    
    ABB LTD ADR REPSTG ONE 15,114 14,240
    AGRIUM INC 15,685 19,682
    ANGLO AMERICAN PLC ADR 11,195 9,109
    ASTRAZENECA PLC SPSD ADR 13,164 13,817
    ATLAS COPCO AB ADR CL B 7,565 11,446
    BANCO SANTANDER CENT HISPANO    
    BOC HONG KONG HLDGS 6,463 9,107
    BRITISH AMERN TOB PLC 25,157 29,450
    DBS GROUP HLDGS LTD 15,223 16,079
    DIAGEO PLC    
    E.ON AG ADR    
    FOMENTO ECONOMICO MEXICANO ADR 5,612 7,422
    GLAXO SMITHKLINE PLC ADR 9,177 10,000
    HONDA MTR LTD 9,798 12,845
    KEPPEL CORP LTD SPONS ADR 27,703 31,150
    KONINKLIJKE (ROYAL) KPN NV 10,899 9,154
    MITSUBISHI UFJ FINL GRP    
    NESTLE S A SPONSORED ADR 22,238 27,121
    NOVARTIS AG ADR 18,925 20,820
    PETROLEO BRASILEIRO SA PETRO 22,286 15,193
    ROCHE HLDG LTD    
    RWE AG SPONSORED ADR    
    SANOFI AVENTIS ADR 7,706 7,573
    STATOILHYDRO ASA    
    TELEFONICA SA SPON ADR    
    TOKIO MARINE HOLDINGS ADR 11,331 12,275
    TOTAL SA ADR REPSTG 21,510 17,103
    TURKCELL ILETISIM HIZMET 23,421 12,593
    UNILEVER PLC SPSD    
    ZURICH FINANCIAL SERVICES ADR 4,845 7,095
    CENTRAL EUROPEAN DISTRIBUTION 6,988 6,375
    ARCELORMITTAL NY REGISTERED    
    BARCLAYS PLC ADR 10,467 10,510
    CANON INC ADR REPSTG 11,157 13,953
    CENTRAL EUROPEAN MEDIA ENT    
    DESARROLLADORA HOMEX    
    INTESA SANPAOLO A D R    
    LUKOIL SPON A D R 8,204 12,245
    MITSUI & CO LTD SPSD ADR 9,922 16,014
    NATIONAL BANK OF GREECE ADR    
    NISSAN MTR LTD 12,416 14,362
    ORIX CORP SPONS ADR 5,854 9,821
    RIO TINTO PLC ADR    
    SOCIETE GENERALE FRANCE 14,193 14,756
    STERLITE INDS INDIA ADS    
    SWISS REINSURANCE SPSD ADR 6,641 8,177
    TENARIS SA ADR    
    THOMPSON CREEK METALS 12,265 13,813
    VALE SA SP ADR 20,951 20,859
    BARCLAYS IPATH DJ AIG COMMODIT    
    PIMCO TOTAL RETURN FUND 75,000 78,311
    FRONTIER COMM CORP 840 611
    CREDIT SUISSE COMMOD RET 242,000 261,533
    IPATH DOW JONES UBS 125,253 157,533
    ISHARES MSCI EMERGING MKTS ETF 169,387 167,408
    NUVEEN REAL ESTATE SECS FD 355,000 400,260
    ANHEUSER BUSCH INBEV NV ADR 6,764 6,051
    B A S F AG ADR 12,440 15,876
    B H P BILLITON PLC ADR 6,855 6,900
    B N P PARIBAS ADR 11,629 13,493
    B T GROUP PLC ADR 12,697 14,023
    BANCO BRADESCO A D R 6,113 6,540
    BAYERISCHE MOTOREN WERKE ADR 12,003 15,025
    CENTRICA PLC ADR 6,341 6,556
    CNOOC LTD ADR 6,456 8,905
    FOCUS MEDIA HLDG ADR 5,685 9,521
    HSBC HLDGS PLC SPONS ADR 6,557 6,886
    INFINEON TECH AG ADR 13,209 14,333
    INTERCONTINENTAL HTLS GRP 6,165 7,647
    LVMH MOET HENNESSY LOU VUITT 5,133 4,950
    PRECISION DRILLING TRUST 7,244 8,385
    ROYAL DUTCH SHELL PLC ADR 6,594 7,442
    SIEMENS AG ADR 9,226 12,234
    SONY CORP ADR 7,028 7,221
    UBS AG REG 5,869 6,967
    VIVO PARTICIPACOES SA ADR 7,099 7,546
    VODAFONE GROUP PLC ADR 6,282 7,355
    VOLVO AB SPONS ADR 13,362 16,424

    TY 2010 OtherDecreasesSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Description Amount
    RECEIVED VS REPORTED SECURITIES 3,446
    RECEIVED VS REPORTED CASH ON SALES 11,164


    TY 2010 OtherExpensesSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEE 580 0   580
    ADR FEES 262 0   262


    TY 2010 OtherIncreasesSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Description Amount
    RECEIVED VS REPORTED SECURITIES PY 3,319
    RETURNED SCHOLARSHIPS PY 10,775


    TY 2010 TaxesSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FED EXCISE TAX PAID 5,908 0   0
    FED EXCISE TAX ESTIMATES 7,152 0   0