Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2010
For calendar year 2010, or tax year beginning 01-01-2010 , and ending 12-31-2010
G
Check all that apply:
Name of foundation
THE CHARLES MITCHELL SCHOLARSHIP TRUST
R52526002 / 421007430

Number and street (or P.O. box number if mail is not delivered to street address)JPMORGAN CHASE BANK BOX 3038   Room/suite
City or town, state, and ZIP code
MILWAUKEE, WI53201
A Employer identification number

13-7105970
B Telephone number (see page 10 of the instructions)

(414) 977-1210
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$5,333,743J 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 62 62  
4 Dividends and interest from securities...... 113,607 113,549  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 307,072
b Gross sales price for all assets on line 6a 3,552,726
7 Capital gain net income (from Part IV, line 2)... 317,587
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 420,741 431,198  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 49,895 37,421   12,474
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 1,689 1,030   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 250 162   250
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 51,834 38,613   12,724
25 Contributions, gifts, grants paid........ 212,684 212,684
26 Total expenses and disbursements. Add lines 24 and 25 264,518 38,613   225,408
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 156,223
b Net investment income (if negative, enter -0-) 392,585
c Adjusted net income (if negative, enter -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............... 56,214 73,619 73,619
2 Savings and temporary cash investments.......... 200,221 93,654 93,654
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 908,314    
b Investments—corporate stock (attach schedule)........ 2,278,567 Click to see attachment3,096,120 3,541,542
c Investments—corporate bonds (attach schedule)........ 553,752 Click to see attachment1,508,833 1,624,928
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 615,636    
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment2 Click to see attachment2 Click to see attachment0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,612,706 4,772,228 5,333,743
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 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......... 4,612,706 4,772,228
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see page 17 of the
instructions).................... 4,612,706 4,772,228
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 4,612,706 4,772,228
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 4,612,706
2 Enter amount from Part I, line 27a...................... 2 156,223
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 4,282
4 Add lines 1, 2, and 3.......................... 4 4,773,211
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 983
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 4,772,228
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 SALES OF PUBLICLY TRADED SECURITIES      
b POWERSHARES DB SCH K-1 P    
c POWERSHARES DB SCH K-1 P    
d POWERSHARES DB SCH K-1 SEC 1256 STRADDLES P    
e CAPITAL GAINS DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 3,551,420   3,245,654 305,766
b       23
c       352
d       10,140
e 1,306     1,306
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       305,766
b       23
c       352
d       10,140
e       1,306
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 2 317,587
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 270,940 4,502,576 0.060174
2008 295,500 5,412,279 0.054598
2007 247,866 5,845,358 0.042404
2006 133,073 4,826,059 0.027574
2005 28,330 2,471,538 0.011462
2 Total of line 1, column (d) ...................... 2 0.196212
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 0.039242
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 5,046,270
5 Multiply line 4 by line 3....................... 5 198,026
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 3,926
7 Add lines 5 and 6......................... 7 201,952
8 Enter qualifying distributions from Part XII, line 4.............. 8 225,408
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 3,926
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 3,926
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 3,926
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 1,000
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,000
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 2,926
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet   Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?.............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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)bulletNY
    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 addressbulletN/A
    14
    The books are in care ofbulletJPMORGAN CHASE BANK NA Telephone no.bullet (585) 797-2607
    Located atbulletONE CHASE SQUAREROCHESTERNY ZIP+4bullet14643
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2010?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2010 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2010.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2010?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    JPMORGAN CHASE BANK CO-TRUSTEE
    2.00     		43,640 0 0
    PO BOX 3038
    MILWAUKEE,WI53201
    RICHARD HENRY PERSHAN CO-TRUSTEE
    2.00     		6,255 0 0
    1435 LEXINGTON AVE APT 5B
    NEW YORK,NY10128
    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 N/A 0
    2  
    3  
    4  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A 0
    2  
    All other program-related investments. See page 24 of the instructions.
    3 Click to see attachment 0
    Total. Add lines 1 through 3...........................bullet0
    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
    4,898,785
    b
    Average of monthly cash balances.......................
    1b
    224,332
    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
    5,123,117
    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
    5,123,117
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    76,847
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,046,270
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    252,314
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    252,314
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    3,926
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    3,926
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    248,388
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    750
    5
    Add lines 3 and 4.............................
    5
    249,138
    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
    249,138
    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
    225,408
    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
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    225,408
    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
    3,926
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    221,482
    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 7 249,138
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 211,861
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2010:
    a From 2005.......  
    b From 2006.......  
    c From 2007.......  
    d From 2008.......  
    e From 2009.......  
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 225,408
    a Applied to 2009, but not more than line 2a 211,861
    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..... 13,547
    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 ..........     		235,591
    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....  
    b Excess from 2007....  
    c Excess from 2008....  
    d Excess from 2009....  
    e Excess from 2010....  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    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)
    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
    BOWDON COLLEGE FOR SCHOLARSHIPS
    4100 COLLEGE STATION
    BRUNSWICK,ME04011     		NONE EDUCATIONAL SCHOLARSHIP 6,500
    BELMONT UNIV FBO CONRAD ALEXANDER PENDERGAST
    1900 BELLMONT AVE
    NASHVILLE,TN37212     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    BIRMINGHAM SOUTHERN COLLEGE FBO CAROLINE M CRAWFORD
    PO BOX 6000
    BIRMINGHAM,NY13902     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    BOSTON UNIV FBO CASEY BARTLETT GODBOUT
    ONE SILBER WAY
    BOSTON,MA02215     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    BROWARD COLLEGE FBO ANNE C WARD
    111 E LAS OLAS BLVD
    FT LAUDERDALE,FL33301     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    CAMBRIDGE UNIV - TRINITY HALL COLLEGE FBO WILLIAM W WARMAN
    C/O 708 3RD AVE
    NEW YORK,NY10017     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    COLGATE UNIV FBO DAVID HAIMES
    13 OAK DR
    HAMILTON,NY13346     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    COLLEGE OF CHARLESTON FBO HUNTER ELLIOTT LEE
    66 GEORGE ST
    CHARLESTON,SC29424     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    COLORADO COLLEGE FBO ZOE ELIZABETH OSTERMAN
    902 N CASCADE
    COLORADO SPRINGS,CO80946     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    DUKE UNIV FBO MARIETTA YATES JOHNSTON
    PO BOX 90397
    DURHAM,NC27708     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    ELON UNIV FBO CAROLINE VIRGINIA HALLETT
    2725 CAMPUS BOX
    ELON,NC27244     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    GEORGE MASON UNIV FBO MATTHEW LEE KING
    4455 RIVANNA LN
    FAIRFAX,VA22030     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    GETTYSBURG COLLEGE FBO JONATHAN MARSHALL MORRIS
    300 N WASHINGTON
    GETTYSBURG,PA17325     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    HAMILTON COLLEGE FBO PETER JOSEPH LACIANO
    198 COLLEGE HILL RD
    CLINTON,NY13323     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    HOBART AND WILLIAM SMITH COLLEGES FBO KATHERINE E LEVENSTEIN
    FINANCIAL AID OFFICE
    GENEVA,NY14456     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    HORRY GEORGETOWN TECHNICAL COLLEGE FBO DOUGLAS J SCORDINO
    743 HEMLOCK AVE
    MYRTLE BEACH,SC29577     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    ITHACA COLLEGE FBO WILLIAM FLOYD OLNEY III
    201 DILLINGHAM CENTER
    ITHACA,NY14850     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    JAMES MADISON UNIV FBO JILLIAN LARUE VIAR
    800 S MAIN ST
    HARRISBURG,VA22807     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    JAMES MADISON UNIV FBO CAROLINE J MCKEAN
    800 S MAIN ST
    HARRISBURG,VA22807     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    KAPLAN CAREER INST FBO CHRISTINA MICHELLE LINDERMAN
    570 RUTHERFORD AVE
    CHARLESTON,MA02129     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    KENYON COLLEGE FBO JOHN DAVIES MCKEAN
    WIGGINS ST
    GAMBIER,OH43022     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    LEBANON VALLEY COLLEGE FBO KATHRYN MANOCCHIO LEWIS
    101 N COLLEGE AVE
    ANNVILLE,PA17003     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    LOCK HAVEN UNIV OF PENNSYLVANIA FBO JEFFREY ADAMS WARD
    401 N FAIRVIEW ST
    LOCK HAVEN,PA17745     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    LONGWOOD UNIV FBO BENJAMIN ALSTON DAUGHTREY
    201 HIGH ST
    FARMVILLE,VA23901     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    MANHATTAN COLLEGE FBO KATHRYN ANN INZINNA
    4513 MANHATTAN COL PKWY
    RIVERDALE,NY10471     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    MANSFIELD UNIV FBO KRISTY LYNN SCORDINO
    320 MAIN ST
    MANSFIELD,PA16933     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    MANSFIELD UNIV FBO JESSICA LYNN SCORDINO
    320 MAIN ST
    MANSFIELD,PA16933     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    MARIST COLLEGE FBO JULIE B OLNEY
    3399 NORTH RD
    POUGHKEEPSIE,NY12601     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    MEREDITH COLLEGE-WEEMS GRAD SCHOOL FBO ELIZABETH CLAYE PACA
    3800 HILLSBOROUGH ST
    RALEIGH,NC27607     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    MICHIGAN STATE UNIV FBO PAUL CLINTON GREGORY
    252 STUDENT SVCS BLDG
    EAST LANSING,MI48824     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    MICHIGAN STATE UNIV FBO KEVIN HOWARD CORBETT
    252 STUDENT SVCS BLDG
    EAST LANSING,MI48824     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    NORTHEASTERN UNIV FBO HENRY PAINE STORER
    360 HUNTINGTON AVE
    BOSTON,MA02115     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    OCCIDENTAL COLLEGE FBO MOLLY AMORY STORER
    1600 CAMPUS RD
    LOS ANGELES,CA90041     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    OHIO STATE UNIV FBO ZACHARY MALONE HOUSTON
    BURSARS OFFICE DEPT 0997
    COLUMBUS,OH43271     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    RADFORD UNIV FBO STEPHANIE LYNN NELSON
    PO BOX 6922
    RADFORD,VA24142     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    RENSSELAER POLYTECHNIC INST FBO DAVID WOLCOTT STURGEON
    110 EIGHTH ST
    TROY,NY12180     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    RUTGERS FBO ELLEN MACFARLANE BRUECKNER
    PO BOX 2021
    NEW BRUNSWICK,NJ08903     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    SEWANEE THE UNIV OF THE SOUTH FBO LAUREN ELIZABETH LEE
    735 UNIVERSITY AVE
    SEWANEE,TN37383     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    SOUTH DAKOTA STATE UNIV FBO BRYCE MCLAIN BLOHM
    ADMISSIONS/FINANCIAL AID OFFICE
    BROOKINGS,SD57007     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    ST JOHN'S COLLEGE FBO KATHRYN MCKEAN MEANS
    1160 CAMINO CRUZ BLANCA
    SANTA FE,NM87505     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    ST MARY'S COLLEGE OF MARYLAND FBO VIRGINIA E WILLIAMS
    18952 E FISHER RD
    ST MARYS CITY,MD20686     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF SOUTH CAROLINA FBO JANESSA HEYWARD
    1714 COLLEGE ST
    COLUMBIA,SC29208     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF THE SOUTH -SEWANEE FBO VIRGINIA MATHESON ZAKAS
    735 UNIVERSITY AVE
    SEWANEE,TN37383     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF VIRGINIA FBO ANNE CARRINGTON CROFT
    PO BOX 400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF ALABAMA FBO MARY HERNDON NORDMANN
    BOX 870134
    TUSCALOOSA,AL35487     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF CHICAGO FBO JAMES LIVINGSTON MCCORMICK
    1101 E 58TH ST
    CHICAGO,IL60637     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF COLORADO AT BOLDER FBO CHRISTIAN COOLIDGE WORKS
    77 UCB
    BOULDER,CO80309     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF COLORADO AT BOLDER FBO MILES JEFFERSON WORKS
    77 UCB
    BOULDER,CO80309     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF DENVER GRAD SCHOOL FBO ALEXIS T OSTERMAN EMICH
    2197 S UNIVERSITY BLVD
    DENVER,CO80208     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF GEORGIA FBO LAYNE ADAIR DEUTSCHER
    220 HOLMES/HUNTER ACADEMIC BLDG
    ATHENS,GA30602     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF MIAMI MILLER SCH OF MEDICINE FBO WILLIAM BLACK WARD
    PO BOX 016960
    MIAMI,FL33101     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF NORTH CAROLINA - CHAPEL HILL FBO LEONARD D LONG II
    CAMPUS BOX 4010
    CHAPEL HILL,NC27599     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF PITTSBURGH FBO ALEXANDER TANNER TAYLOR
    5141 SENNOTT SQ
    PITTSBURGH,PA10526     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF REDLANDS FBO AARON MINSK
    1200 E COLTON AVE
    REDLANDS,CA92374     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF RHODE ISLAND FBO JESSICA MARIE BURKE
    6 RHODX RAM WAY
    KINGSTON,RI02881     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF SOUTH CAROLINA FBO ELEANOR JULIA SUTRO
    1714 COLLEGE ST
    COLUMBIA,SC29208     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF UTAH FBO KARA ALISE LARSEN
    50 N MEDICAL DR
    SALT LAKE CITY,UT84132     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF VIRGINIA FBO NANCY PAGE ZAKAS
    PO BOX 400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF VIRGINIA FBO DAVID MARSHALL TONACCI
    PO BOX 400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF VIRGINIA FBO KATHERINE FLOWERS LAMBERTSON
    PO BOX 400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF VIRGINIA FBO LOGAN MCKNIGHT CLEMENTS
    PO BOX 400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF VIRGINIA FBO ROSWELL COLT DEUTSCHER
    PO BOX 400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF WASHINGTON FBO CONRAD ALEXANDER PENDERGAST
    PO BOX 352192
    SEATTLE,WA98195     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF WISCONSIN-MILWAUKEE FBO ANNA CHRISTINA CURTIS
    PO BOX 469
    MILWAUKEE,WI53201     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    UNIV OF WISCONSIN-RIVER FALLS FBO PAIGE ROSE MARSCHALL
    410 S 3RD ST
    RIVER FALLS,WI55042     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    URSINUS COLLEGE FBO KYLE ERIK DAVIS
    PO BOX 1000
    COLLEGEVILLE,PA19426     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    VANDERBILT UNIV FBO EMILY LATHAM WOODS
    2305 WEST END AVE
    NASHVILLE,TN37203     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    VIRGINIA COMMONWEALTH UNIV FBO SALLIE PENN TURNER
    PO BOX 843026
    RICHMOND,VA23284     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    VIRGINIA POLYTECHNIC & STATE UNIV FBO PEYTON A SCHMICK
    201 BURRUSS HALL
    BLACKSBURG,VA24061     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    VIRGINIA POLYTECH FBO JONATHAN TYLER SCHMICK JR
    201 BURRUSS HALL
    BLACKSBURG,VA24061     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    WASHINGTON AND LEE UNIV FBO EDWARD G LUNDVALL
    204 W WASHINGTON ST
    LEXINGTON,VA24450     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    WIDENER UNIV FBO ALICIA MARIE WARD
    ONE UNIVERSITY PLACE
    CHESTER,PA19013     		NONE EDUCATIONAL SCHOLARSHIP 2,904
    Total .................................bullet 3a 212,684
    bApproved for future payment
    Total ..................................bullet 3b 0
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 62  
    4 Dividends and interest from securities....     14 113,607  
    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.....     14    
    8Gain or (loss) from sales of assets other than inventory     18 307,072  
    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).. 0 420,741 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    13420,741
    (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 AllOthProgRltdInvestmentsSch
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST
    R52526002 / 421007430
    EIN: 13-7105970
    Category Amount
    N/A 0

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST
    R52526002 / 421007430
    EIN: 13-7105970
    Name of Bond End of Year Book Value End of Year Fair Market Value
    GOLDMAN SACHS TRUST HIGH YIELD FUND INST SHS - 23430.85 SHS 132,150 171,045
    ISHARES BARCLAYS TIPS BOND FUND - 945 SHS 95,947 101,606
    EATON VANCE MUT FDS TR FLT RT CL I - 11904.76 SHS 105,000 106,667
    JPM HIGH YIELD FD - SEL FUND 3580 6.12% - 23149.11 SHS 180,077 188,665
    DREYFUS/LAUREL FDS TR PRM EMRGN MK I - 7326.6 SHS 104,040 105,943
    JPM STR INC OPP FD FUND 3844 2.16% - 12947.34 SHS 131,268 153,167
    JPM INTL CURRENCY INCOME FD INCOME FUND 1.45% - 4744.09 SHS 51,425 53,371
    U S A NOTES 4 1/4% AUG 15 2015 DTD 8/15/2005 - 25000 SHS 27,204 27,682
    U S A NOTES 4 1/2% NOV 15 2015 DTD 11/15/2005 - 25000 SHS 24,273 27,990
    FANNIE MAE NOTES 4 3/8% OCT 15 2015 - 35000 SHS 37,612 38,526
    U S A NOTES 5 1/8% MAY 15 2016 DTD 5/15/2006 - 35000 SHS 35,461 40,324
    FANNIE MAE NOTES 5% FEB 13 2017 DTD 1/12/2007 - 50000 SHS 49,296 56,419
    U S A TREASURY NOTES 4 1/2% APR 30 2012 - 50000 SHS 54,627 52,752
    U S A NOTES 4 1/2% MAY 15 2017 DTD 5/15/2007 - 60000 SHS 63,086 67,135
    U S A NOTES 2 5/8% NOV 15 2020 DTD 11/15/2010 - 35000 SHS 32,583 33,015
    U S A NOTES 4 1/4% AUG 15 2013 DTD 8/15/2003 - 50000 SHS 51,918 54,438
    FANNIE MAE NOTES 4 5/8% OCT 15 2013 DTD 9/26/2003 - 20000 SHS 19,335 21,953
    U S A NOTES 4% FEB 15 2014 DTD 2/17/2004 - 50000 SHS 47,447 54,469
    U S A NOTES 4 3/4% JAN 31 2012 DTD 1/31/2007 - 35000 SHS 34,792 36,646
    FEDERAL HOME LOAN BANK NOTES 5 1/2% AUG 13 2014 - 30000 SHS 32,014 34,318
    FANNIE MAE NOTES 4 3/4% NOV 19 2012 DTD 10/18/2007 - 95000 SHS 105,236 102,221
    FHLB 5% NOV 17 2017 DTD 10/19/2007 - 10000 SHS 10,208 11,338
    U S A NOTES 2 3/4% FEB 15 2019 DTD 2/15/2009 - 40000 SHS 37,902 39,484
    U S A NOTES 1 3/4% APR 15 2013 DTD 04/15/2010 - 30000 SHS 30,989 30,689
    FEDERAL HOME LOAN BANK 4% FEB 15 2011 - 15000 SHS 14,943 15,065

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST
    R52526002 / 421007430
    EIN: 13-7105970
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES - 155 SHS 7,312 7,426
    ALEXION PHARMACEUTICALS INC - 20 SHS 1,123 1,611
    AMAZON COM INC - 35 SHS 4,277 6,300
    AMERICAN EXPRESS CO - 25 SHS 1,057 1,073
    APACHE CORP - 70 SHS 5,299 8,346
    APPLE INC. - 45 SHS 7,073 14,515
    BB & T CORP - 60 SHS 992 1,577
    BAKER HUGHES INC - 65 SHS 3,374 3,716
    CVS CAREMARK CORPORATION - 140 SHS 3,899 4,868
    CAMPBELL SOUP COMPANY - 50 SHS 1,824 1,738
    CARDINAL HEALTH INC - 85 SHS 2,441 3,256
    CELGENE CORPORATION - 70 SHS 3,409 4,140
    CISCO SYSTEMS INC - 465 SHS 9,023 9,407
    CITRIX SYSTEMS INC - 25 SHS 1,717 1,710
    COLGATE PALMOLIVE CO - 35 SHS 2,758 2,813
    WALT DISNEY CO - 145 SHS 2,583 5,439
    DOW CHEMICAL CO - 125 SHS 3,597 4,268
    E I DU PONT DE NEMOURS & CO - 190 SHS 7,209 9,477
    E M C CORP MASS - 125 SHS 2,562 2,863
    FREEPORT-MCMORAN COPPER & GOLD INC CL B - 75 SHS 2,426 9,007
    GENERAL ELECTRIC CO - 150 SHS 2,295 2,744
    GENERAL MILLS INC - 65 SHS 1,905 2,313
    INTERNATIONAL BUSINESS MACHINES CORP - 40 SHS 5,015 5,870
    JOHNSON CONTROLS INC - 215 SHS 4,808 8,213
    KELLOGG CO - 25 SHS 1,220 1,277
    LENNAR CORP - 50 SHS 774 938
    LOWES COMPANIES INC - 100 SHS 2,305 2,508
    MICROSOFT CORP - 550 SHS 12,569 15,351
    MORGAN STANLEY - 115 SHS 2,236 3,129
    NATIONAL-OILWELL VARCO INC - 25 SHS 1,570 1,681
    NIKE INC B - 30 SHS 1,955 2,563
    NORFOLK SOUTHERN CORP - 155 SHS 8,031 9,737
    NOVELLUS SYSTEMS INC - 90 SHS 2,292 2,909
    OCCIDENTAL PETROLEUM CORP - 90 SHS 6,198 8,829
    ORACLE CORP - 210 SHS 4,822 6,573
    PACCAR INC - 115 SHS 3,673 6,594
    PARKER-HANNIFIN CORP - 15 SHS 605 1,295
    PEPSICO INC - 60 SHS 3,182 3,920
    PFIZER INC - 550 SHS 7,696 9,631
    PROCTER & GAMBLE CO - 145 SHS 7,839 9,328
    QUALCOMM INC - 150 SHS 6,270 7,424
    T ROWE PRICE INT'L FDS INC NEW ASIA FUND - 10882.69 SHS 139,750 208,730
    SPDR S&P 500 ETF TRUST - 1719 SHS 189,759 216,164
    SANDISK CORP - 30 SHS 1,310 1,496
    SOUTHERN CO - 85 SHS 2,553 3,250
    SPRINT NEXTEL CORP - 520 SHS 2,192 2,200
    STAPLES INC - 190 SHS 3,785 4,326
    STATE STREET CORP - 25 SHS 994 1,159
    SYSCO CORP - 70 SHS 2,141 2,058
    UNITED TECHNOLOGIES CORP - 95 SHS 6,977 7,478
    XILINX CORP - 75 SHS 2,123 2,174
    COGNIZANT TECHNOLOGY SOLUTIONS CORP CL A - 65 SHS 3,336 4,764
    SEMPRA ENERGY - 0 SHS 1,571 1,574
    CITIGROUP INC - 1375 SHS 5,670 6,504
    WELLS FARGO & CO - 240 SHS 4,060 7,438
    BANK OF AMERICA CORP - 480 SHS 6,786 6,403
    GOLDMAN SACHS GROUP INC - 35 SHS 2,655 5,886
    DEVON ENERGY CORP - 60 SHS 4,072 4,711
    EOG RESOURCES INC - 60 SHS 5,377 5,485
    HONEYWELL INTERNATIONAL INC - 100 SHS 4,311 5,316
    UNITEDHEALTH GROUP INC - 50 SHS 1,894 1,806
    VERIZON COMMUNICATIONS INC - 195 SHS 6,015 6,977
    COACH INC - 55 SHS 2,093 3,042
    US BANCORP DEL - 105 SHS 1,652 2,832
    ISHARES RUSSELL MIDCAP INDEX FUND - 1180 SHS 99,447 120,065
    ADVANCED AUTO PARTS INC - 35 SHS 1,054 2,315
    3M CO - 30 SHS 2,591 2,589
    YUM BRANDS INC - 125 SHS 4,336 6,131
    ARTISAN INTL VALUE FUND - INV - 2082.9 SHS 47,844 56,467
    COMCAST CORP CL A - 90 SHS 1,528 1,977
    CARNIVAL CORPORATION - 55 SHS 2,013 2,536
    ARBITRAGE FUNDS - I CL I - 8173.76 SHS 107,182 104,542
    GOOGLE INC CL A - 6 SHS 1,702 3,564
    WELLPOINT INC - 15 SHS 830 853
    JPM US REAL ESTATE FD - SEL FUND 3037 - 12225.18 SHS 164,422 190,468
    JPM INTREPID AMERICA FD - SEL FUND 1206 - 4916.9 SHS 92,867 112,744
    JPM MARKET EXPANSION INDEX FD - SEL FUND 3708 - 10388.25 SHS 99,000 111,778
    JPM TAX AWARE 3 - INSTL FUND 1236 - 2976.19 SHS 50,000 52,917
    JPM ASIA 3 FD - SEL FUND 1134 - 4258.65 SHS 102,506 161,318
    MANAGERS AMG FUNDS-TIMESSQUARE MID CAP GROWTH FUND - 8378.62 SHS 100,449 116,630
    VANGUARD MSCI EMERGING MARKETS ETF - 4485 SHS 212,099 215,935
    AT&T INC - 95 SHS 3,690 2,791
    EDGEWOOD GROWTH FUND - 15203.55 SHS 189,790 171,192
    STARWOOD HOTELS & RESORTS - 35 SHS 720 2,127
    POWERSHARES DB COMMODITY INDEX TRACKING FUND - 6075 SHS 148,632 167,366
    CME GROUP INC CLASS A COMMON STOCK - 10 SHS 2,651 3,218
    EATON VANCE MUT FDS TR GLOBAL MACRO - I - 12378.4 SHS 128,000 127,126
    INVESCO LTD - 75 SHS 1,449 1,805
    PHILIP MORRIS INTERNATIONAL - 50 SHS 1,701 2,927
    ACE LTD NEW - 35 SHS 1,458 2,179
    ARTIO INTERNATIONAL 3 II - I - 4487.26 SHS 33,924 55,911
    TYCO INTERNATIONAL LTD - 75 SHS 2,785 3,108
    TIME WARNER INC NEW - 298 SHS 7,133 9,587
    COVIDIEN PLC - 50 SHS 1,794 2,283
    MERCK AND CO INC - 200 SHS 6,166 7,208
    JPM RESEARCH MARKET NEUTRAL FD - SEL FUND - SEL - 3389.38 SHS 53,247 52,332
    HSBC EAFE BREN 02/17/11 - 50000 SHS 49,500 50,410
    BARC EAFE BREN 02/10/11 - 60000 SHS 59,400 62,742
    HSBC SPX BREN 02/10/11 - 100000 SHS 99,000 109,320
    HIGHBRIDGE DYNAMIC COMM STRG FD - 3546.97 SHS 51,302 68,705
    BNP SPX NOTE 05/12/11 - 103000 SHS 102,072 107,998
    BNP SPX BREN 05/05/11 - 110000 SHS 108,900 115,681
    HSBC EAFE BREN 05/05/11 - 100000 SHS 99,000 98,760
    NEXTERA ENERGY INC - 55 SHS 2,753 2,859
    BARC BREN ASIA BASKET 08/05/11 10%BUFFER - 70000 SHS 69,300 78,743
    GS BREN SPX 08/05/11 - 55000 SHS 54,450 61,785
    BNP BREN SPX 08/22/11 - 50000 SHS 49,500 54,525
    DB BREN ASIA BASKET 01/06/12 10%BUFFER - 80000 SHS 79,200 80,570
    JUNIPER NETWORKS INC - 135 SHS 2,473 4,984
    EXXON MOBIL CORP - 190 SHS 11,445 13,893
    METLIFE INC - 90 SHS 3,269 4,000
    MARVELL TECHNOLOGY GROUP LTD - 105 SHS 2,153 1,948
    PRUDENTIAL FINANCIAL INC - 65 SHS 1,769 3,816
    CONOCOPHILLIPS - 85 SHS 3,969 5,789
    BIOGEN IDEC INC - 45 SHS 2,444 3,017
    BAIDU INC SPONS ADR - 20 SHS 1,844 1,931
    TD AMERITRADE HOLDING CORPORATION - 115 SHS 1,975 2,184
    MASTERCARD INC - CLASS A - 10 SHS 1,828 2,241
    GENERAL MOTORS CO - 95 SHS 3,273 3,502

    TY 2010 OtherAssetsSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST
    R52526002 / 421007430
    EIN: 13-7105970
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SUNDRY 2 2 0


    TY 2010 OtherDecreasesSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST
    R52526002 / 421007430
    EIN: 13-7105970
    Description Amount
    ADJUSTMENTS OF CARRYING VALUE / TAX BASIS 983


    TY 2010 OtherExpensesSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST
    R52526002 / 421007430
    EIN: 13-7105970
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    NEW YORK ATTORNEY GENERAL FILING FEE 250 0   250
    POWERSHARES DB SCH K-1 0 162   0


    TY 2010 OtherIncreasesSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST
    R52526002 / 421007430
    EIN: 13-7105970
    Description Amount
    RETURN OF UNUSED GRANT 750
    NONDIVIDEND DISRIBUTIONS / RETURN OF CAPITAL 3,421
    MUTUAL FUND TIMING/FACTORING ADJUSTMENT 111


    TY 2010 TaxesSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST
    R52526002 / 421007430
    EIN: 13-7105970
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ESTIMATED EXCISE TAX - CURRENT YEAR 659 0   0
    FOREIGN TAX WITHHELD 1,030 1,030   0