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
OTTO AND FRAN WALTER FOUNDATION INC
 

Number and street (or P.O. box number if mail is not delivered to street address)THE BRICK HOUSE 7 OAK STREET   Room/suite
City or town, state, and ZIP code
BOOTHBAY HARBOR, ME04538
A Employer identification number

13-1625529
B Telephone number (see page 10 of the instructions)

(207) 633-7300
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$12,953,803J 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...... 341,723 341,723  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 733,350
b Gross sales price for all assets on line 6a 8,622,934
7 Capital gain net income (from Part IV, line 2)... 733,350
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........ 1,075,073 1,075,073  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 137,332 34,332   103,000
14 Other employee salaries and wages...... 23,814 5,955   17,859
15 Pension plans, employee benefits....... 20,823 5,206   15,617
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 14,950 7,475   7,475
c Other professional fees (attach schedule).... Click to see attachment 74,225 37,113   36,910
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 22,904 3,315   9,946
19 Depreciation (attach schedule) and depletion... Click to see attachment 4,147 0  
20 Occupancy.............. 15,488 3,872   11,616
21 Travel, conferences, and meetings....... 34,455 8,614   25,841
22 Printing and publications.......... 175 44   131
23 Other expenses (attach schedule)....... Click to see attachment 22,395 4,951   17,444
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 370,708 110,877   245,839
25 Contributions, gifts, grants paid........ 838,380 714,880
26 Total expenses and disbursements. Add lines 24 and 25 1,209,088 110,877   960,719
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -134,015
b Net investment income (if negative, enter -0-) 964,196
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............... 33,093    
2 Savings and temporary cash investments.......... 134,357 387,352 387,352
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........... 9,277 8,193 8,193
10a Investments—U.S. and state government obligations (attach schedule) 2,730,247 Click to see attachment2,357,142 2,590,067
b Investments—corporate stock (attach schedule)........ 6,973,344 Click to see attachment6,819,162 8,060,011
c Investments—corporate bonds (attach schedule)........ 1,431,705 Click to see attachment1,728,576 1,825,237
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet36,556
Less: accumulated depreciation (attach schedule) bullet16,551 19,651 Click to see attachment20,005 20,005
15 Other assets (describe bullet) Click to see attachment62,628 Click to see attachment62,938 Click to see attachment62,938
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 11,394,302 11,383,368 12,953,803
Liabilities 17 Accounts payable and accrued expenses.......... 28,054 29,235
18 Grants payable................... 1,826,250 1,539,750
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).......... 1,854,304 1,568,985
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................... 9,539,998 9,814,383
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 9,539,998 9,814,383
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 11,394,302 11,383,368
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 9,539,998
2 Enter amount from Part I, line 27a...................... 2 -134,015
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 410,000
4 Add lines 1, 2, and 3.......................... 4 9,815,983
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 1,600
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 9,814,383
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 80 AGCO CORP P 2010-08-11 2010-12-17
b 3,410 AT&T P 2005-12-09 2010-12-17
c 3,020 ABBOT LABS P 2009-11-12 2010-05-03
d 40 ALLIED WORLD ASSURANCE P 2010-09-24 2010-12-17
e 2,040 AMERICAN EXPRESS P 2009-06-17 2010-12-17
1,710 AMERIPRISE FINANCIAL INC P 2008-12-29 2010-12-17
1,130 AMERISOURCEBERGEN P 2009-07-09 2010-12-17
90 AMERICAN FINANCIAL GROUP P 2010-09-10 2010-12-17
190 AMGEN INCORPORATED P 2008-09-09 2010-12-17
1,230 APACHE CORP P 2009-06-05 2010-04-12
110 APPLE INC P 2009-10-29 2010-12-17
110 ATMOS ENERGY CORP P 2010-07-02 2010-12-17
500 AUTOZONE INC P 2009-11-11 2010-12-17
2,590 AVERY DENNISON P 2009-11-16 2010-02-17
7,090 BANK OF AMERICA P   2010-10-21
1,630 BAXTER INTERNATIONAL INC P 2005-11-03 2010-02-08
1,380 BB&T CORPORATION P 2010-03-12 2010-07-27
2,090 BEST BUY INC P 2010-10-04 2010-12-17
3,650 BIG LOTS INC P 2009-09-14 2010-11-05
20 BMC SOFTWARE INC P 2010-11-29 2010-12-17
40 BOSTON PROPERTIES INC P 2010-09-10 2010-12-17
160 BRISTOL-MYERS SQUIBB CO P 2010-07-06 2010-12-17
1,500 BUCYRUS INTL INC P 2010-01-04 2010-04-27
1,900 CA INC P 2010-01-22 2010-12-17
2,770 CABLEVISION SYS NY GP A P 2010-07-27 2010-11-03
2,640 CAMPBELL SOUP COMPANY P 2009-06-04 2010-01-20
1,740 CAPITAL ONE FINANCE P 2009-09-16 2010-12-17
630 CBS CORPORATION CL B NEW P 2010-02-17 2010-12-17
70 CEPHALON INC P 2010-03-19 2010-12-17
1,350 CH ROBINSON WORLD P   2010-02-17
170 CHEVRON TEXACO COR P 2004-07-02 2010-12-17
2,590 CISCO SYSTEMS INC P 2004-07-21 2010-12-17
330 CITIGROUP INC P 2010-11-10 2010-12-17
80 CMS ENERGY CORP P 2010-11-03 2010-12-17
90 COACH INC P 2010-09-24 2010-12-17
2,360 COCA COLA P 2009-11-12 2010-12-17
1,900 COMERICA INCORPORATED P 2010-05-14 2010-11-03
3,970 CONAGRA P 2009-02-10 2010-09-24
1,430 CONOCOPHILLIPS P 2007-09-26 2010-12-17
60 CUMMINS INC P 2010-02-10 2010-12-17
980 DARDEN RESTAURANTS INC P 2010-04-27 2010-06-09
110 DEERE & CO. P 2010-03-19 2010-12-17
7,170 DEL MONTE FOODS CO P   2010-09-24
1,610 DEVON ENERGY P 2009-06-05 2010-02-04
30 DEVON ENERGY CP NEW P 2010-11-16 2010-12-17
5,260 DIRECT TV P   2010-10-12
660 DOLBY LABORATORIES INC P 2010-08-31 2010-11-05
5,810 DONNELLEY RR & SON CO P 2008-08-01 2010-09-10
2,720 DR PEPPER SNAPPLE CO P 2009-05-06 2010-12-17
490 DUN & BRADSTREET CP NEW P 2010-09-24 2010-12-17
660 EASTMAN CHEMICAL CO P 2008-07-15 2010-12-17
110 ENDO PHARM HOLDINGS INC P 2010-09-10 2010-12-17
10 ENERGIZER HOLDING INC P 2010-09-10 2010-12-17
1,290 ENTERGY CORP NEW P 2010-02-23 2010-05-03
490 EXCO RESOURCES INC P 2009-12-18 2010-12-17
680 EXXON MOBIL CORP P 2005-11-14 2010-12-17
220 FIFTH THIRD BANCORP P 2009-08-07 2010-12-17
9,680 FORD MOTOR COMPANY P   2010-05-03
1,190 FRANKLIN RESOURCES P   2010-05-03
1,080 FREEPORT MCMORAN P 2009-02-12 2010-04-16
40 GAP INC P 2010-12-07 2010-12-17
3,140 GENERAL ELECTRIC CO P 2004-07-02 2010-12-17
2,900 GILEAD SCIENCES INC P 2010-11-09 2010-12-17
1,890 GOODYEAR TIRE & RUBBER P 2010-04-27 2010-12-17
10 GOOGLE INC CLASS A P 2009-10-28 2010-12-17
2,510 HALLIBURTON CO HOLDING P 2010-07-28 2010-12-17
3,320 HANESBRANDS INC P 2009-12-18 2010-11-03
970 HELMERICH & PAYNE INC P 2010-02-10 2010-05-03
2,240 HESS CORPORATION P 2010-05-28 2010-09-10
580 HEWLETT-PACKARD CO P 2004-11-09 2010-12-17
4,460 HOME DEPOT INC P 2010-03-19 2010-07-12
60 HONEYWELL INTERNATIONAL P 2010-05-07 2010-12-17
1,840 HOSPIRA P 2009-09-30 2010-12-03
7,590 HOST HOTELS & RESORTS REIT P 2009-12-18 2010-12-03
2,350 IDEX CORP P 2010-08-23 2010-11-05
2,750 ILLINOIS TOOL WORKS P 2009-09-30 2010-03-19
5,480 INTEL CORP P 2009-04-16 2010-12-17
240 INTERNATIONAL BUSINESS MACHINES CORP P 2006-02-14 2010-12-17
460 INTERNATIONAL PAPER P 2009-06-10 2010-12-17
80 JB HUNT TRANSPORT SERVICES P 2010-08-24 2010-12-17
1,280 JM SMUCKER CO NEW P 2010-07-14 2010-09-29
1,380 JOHNSON & JOHNSON P 2004-07-14 2010-12-17
590 JOY GLOBAL INC P 2010-09-10 2010-11-05
4,590 JPMORGAN CHASE & CO P 2010-11-09 2010-12-17
2,130 KINETIC CONCEPTS INC P   2010-09-24
940 LANDSTAR SYSTEM INC P 2010-04-27 2010-08-11
50 LIMITED BRANDS INC P 2010-11-26 2010-12-17
1,630 LOCKHEAD MARTIN CORP P 2004-07-14 2010-05-03
1,010 M&T BANK CORPORATION P 2010-10-12 2010-11-05
4,750 MACYS INC FKA FEDERATED DEPT STORES INC P 2009-09-09 2010-12-17
2,130 MARATHON OIL CORP P 2010-05-21 2010-12-17
2,240 MCDONALDS CORP P 2006-03-13 2010-12-17
3,670 MDU RESOURCES P 2009-11-06 2010-11-02
220 MEDCOHEALTH SOLUTIONS P 2007-06-18 2010-12-17
10,170 MICRON TECHNOLOGY INC P   2010-02-04
1,190 MICROSOFT CORP P 2004-11-09 2010-12-17
4,130 MOLEX INCORPORATED P   2010-07-27
1,800 MYLAN INC P 2010-04-12 2010-06-07
310 NEW YORK COMMUNITY BANCORP P 2010-06-09 2010-12-17
1,480 NEWFIELD EXPLORATION CO P 2010-06-11 2010-08-23
7,220 NEWS CORP LTD CL A P 2010-09-10 2010-11-05
170 NORTHEAST UTILITIES P 2010-05-21 2010-12-17
2,210 OMNICOM GROUP INC P 2010-04-27 2010-11-05
40 PPG INDUSTRIES INC P 2010-08-11 2010-12-17
20 PANERA BREAD CO CL A P 2010-11-16 2010-12-17
190 PARKER-HANNIFIN CORP P 2010-01-20 2010-12-17
1,710 PERRIGO CO P 2010-02-08 2010-11-05
40 PIONEER NATURAL RES CO P 2010-06-09 2010-12-17
1,030 PLUM CREEK TIMBER CO REIT P 2010-04-12 2010-05-03
1,800 PNC FINANCIAL SERVICES GP INC P 2010-02-04 2010-09-10
510 POLO RALPH LAUREN P 2009-11-04 2010-03-02
220 PROCTER AND GAMBLE P 2008-11-20 2010-12-17
1,120 PRUDENTIAL FINANCIAL P 2009-06-15 2010-12-17
4,650 PUB SVS ENT GROUP INC P   2010-11-05
50 QUALCOMM INC P 2010-11-29 2010-12-17
1,200 RALCORP HOLDINGS INC P 2010-03-22 2010-05-03
50 RAYMOND JAMES FINANCIAL INC P 2010-11-10 2010-12-17
2,161 RAYTHEON COMPANY P 2006-08-21 2010-08-11
1,650 REINSURANCE GROUP AMER NEW P 2009-10-28 2010-01-22
2,820 REPUBLIC SERVICES INC P 2010-09-17 2010-11-05
100 ROCKWELL AUTOMATION INC P 2010-02-08 2010-12-17
1,300 ROVI CORPORATION P 2010-01-05 2010-05-03
2,100 SCOTTS MIRACLE GROUP CO P 2010-11-03 2010-12-17
20 SIMON PROPERTY GROUP NEW REIT P 2010-11-26 2010-12-17
5,780 SYMANTEC P   2010-05-03
300 TEXAS INSTRUMENTS INC P 2010-04-12 2010-12-17
30 TRAVELERS COMPANIES INC P 2010-10-27 2010-12-17
1,870 TUPPERWARE BRANDS P 2009-09-15 2010-03-22
4,490 TYSON FOODS INC CL A P 2010-05-14 2010-11-16
1,760 URS CORP NEW P 2010-06-09 2010-09-13
150 UNITED PARCEL SERVICE P 2010-03-01 2010-12-17
2,460 UNITED TECHNOLOGIES CORP P 2008-08-07 2010-06-10
60 UNITED HEALTH GROUP INC P 2010-11-26 2010-12-17
140 VERIZON COMMUNICATIONS P 2010-09-24 2010-12-17
1,500 WATERS CORP P   2010-12-17
120 WATSON PHARMACEUTICALS P 2010-04-27 2010-12-17
3,170 WELLS FARGO & CO NEW P 2010-02-08 2010-12-17
3,510 WESTAR ENERGY INC P 2010-05-07 2010-08-23
1,350 WESTERN DIGITAL CORP P   2010-04-12
490 WHITING PETROLEUM CORP P   2010-12-17
4,020 WILLIAMS SONOMA P 2009-12-18 2010-05-03
4,250 XCEL ENERGY INC P 2009-12-09 2010-11-05
1,750 ZIMMER HOLDINGS INC P   2010-02-08
150M SBC COMMUNICATIONS @ 5.3% DUE 11/15/10 P 2007-06-21 2010-11-15
(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 3,638   2,913 725
b 87,195   84,174 3,021
c 149,153   156,238 -7,085
d 2,334   2,265 69
e 81,256   57,844 23,412
75,626   70,065 5,561
34,130   20,290 13,840
2,837   2,660 177
10,836   11,797 -961
130,788   104,080 26,708
27,820   23,184 4,636
3,345   3,001 344
88,657   72,661 15,996
84,056   100,671 -16,615
101,109   93,667 7,442
93,926   62,468 31,458
34,917   39,764 -4,847
71,062   87,119 -16,057
124,073   94,940 29,133
939   894 45
3,389   3,490 -101
4,253   4,002 251
104,670   83,098 21,572
44,149   44,457 -308
74,199   71,575 2,624
87,719   91,647 -3,928
65,949   66,066 -117
9,825   8,505 1,320
4,534   4,941 -407
71,581   65,729 5,852
13,382   8,590 4,792
52,665   57,162 -4,497
1,552   1,472 80
1,505   1,466 39
4,794   3,761 1,033
125,511   128,603 -3,092
67,929   82,127 -14,198
86,613   69,534 17,079
70,986   108,120 -37,134
4,029   3,001 1,028
41,799   47,666 -5,867
8,144   6,406 1,738
90,877   80,920 9,957
113,705   99,947 13,758
2,203   2,150 53
202,937   144,002 58,935
44,816   35,569 9,247
106,838   121,980 -15,142
89,441   57,838 31,603
36,800   35,074 1,726
40,510   42,666 -2,156
3,957   3,143 814
699   665 34
92,932   100,774 -7,842
9,291   10,102 -811
45,346   31,950 13,396
2,989   2,165 824
126,238   53,153 73,085
129,893   74,976 54,917
90,740   33,428 57,312
831   858 -27
49,517   61,452 -11,935
115,345   125,953 -10,608
19,444   26,644 -7,200
5,331   5,550 -219
80,420   82,563 -2,143
83,566   83,665 -99
36,537   38,847 -2,310
119,489   112,602 6,887
27,378   18,521 8,857
124,127   147,614 -23,487
3,082   2,872 210
98,365   81,368 16,997
116,848   83,007 33,841
87,531   75,651 11,880
126,137   121,198 4,939
101,753   87,449 14,304
31,898   21,443 10,455
11,458   7,343 4,115
3,036   2,685 351
78,025   79,939 -1,914
82,784   83,674 -890
42,197   36,587 5,610
177,215   179,181 -1,966
84,261   76,305 7,956
37,519   41,951 -4,432
1,535   1,694 -159
135,664   96,615 39,049
77,577   80,994 -3,417
100,872   105,647 -4,775
71,843   68,966 2,877
157,109   108,876 48,233
73,572   77,429 -3,857
13,415   8,848 4,567
92,937   56,955 35,982
34,052   34,572 -520
80,182   73,594 6,588
34,050   41,157 -7,107
5,339   4,892 447
76,837   75,119 1,718
99,185   95,024 4,161
5,385   4,554 831
100,259   94,746 5,513
3,161   2,758 403
2,070   1,917 153
12,829   11,116 1,713
99,887   79,528 20,359
2,997   2,643 354
40,988   41,143 -155
96,905   100,493 -3,588
40,306   38,896 1,410
13,960   14,077 -117
64,549   44,571 19,978
147,635   156,628 -8,993
2,458   2,393 65
70,638   80,529 -9,891
1,583   1,514 69
101,383   105,041 -3,658
82,146   79,843 2,303
79,767   87,005 -7,238
6,608   5,589 1,019
50,137   41,554 8,583
107,560   109,768 -2,208
1,966   1,971 -5
94,423   86,822 7,601
8,958   7,474 1,484
1,655   1,660 -5
91,461   74,639 16,822
67,430   81,139 -13,709
66,893   78,520 -11,627
10,386   8,954 1,432
161,803   157,046 4,757
2,174   2,173 1
4,692   4,496 196
98,482   74,266 24,216
5,752   5,168 584
87,179   89,166 -1,987
83,460   83,005 455
54,625   32,927 21,698
44,747   41,554 3,193
117,047   84,724 32,323
101,061   87,474 13,587
100,180   82,181 17,999
100,000   100,000 0
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       725
b       3,021
c       -7,085
d       69
e       23,412
      5,561
      13,840
      177
      -961
      26,708
      4,636
      344
      15,996
      -16,615
      7,442
      31,458
      -4,847
      -16,057
      29,133
      45
      -101
      251
      21,572
      -308
      2,624
      -3,928
      -117
      1,320
      -407
      5,852
      4,792
      -4,497
      80
      39
      1,033
      -3,092
      -14,198
      17,079
      -37,134
      1,028
      -5,867
      1,738
      9,957
      13,758
      53
      58,935
      9,247
      -15,142
      31,603
      1,726
      -2,156
      814
      34
      -7,842
      -811
      13,396
      824
      73,085
      54,917
      57,312
      -27
      -11,935
      -10,608
      -7,200
      -219
      -2,143
      -99
      -2,310
      6,887
      8,857
      -23,487
      210
      16,997
      33,841
      11,880
      4,939
      14,304
      10,455
      4,115
      351
      -1,914
      -890
      5,610
      -1,966
      7,956
      -4,432
      -159
      39,049
      -3,417
      -4,775
      2,877
      48,233
      -3,857
      4,567
      35,982
      -520
      6,588
      -7,107
      447
      1,718
      4,161
      831
      5,513
      403
      153
      1,713
      20,359
      354
      -155
      -3,588
      1,410
      -117
      19,978
      -8,993
      65
      -9,891
      69
      -3,658
      2,303
      -7,238
      1,019
      8,583
      -2,208
      -5
      7,601
      1,484
      -5
      16,822
      -13,709
      -11,627
      1,432
      4,757
      1
      196
      24,216
      584
      -1,987
      455
      21,698
      3,193
      32,323
      13,587
      17,999
      0
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 2 733,350
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 939,491 11,417,279 0.082287
2008 965,224 15,081,812 0.063999
2007 951,141 15,453,815 0.061547
2006 1,017,171 14,713,542 0.069132
2005 977,368 14,586,933 0.067003
2 Total of line 1, column (d) ...................... 2 0.343968
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 0.068794
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 12,163,309
5 Multiply line 4 by line 3....................... 5 836,763
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 9,642
7 Add lines 5 and 6......................... 7 846,405
8 Enter qualifying distributions from Part XII, line 4.............. 8 962,319
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 9,642
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 9,642
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 9,642
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 9,277
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 365
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 9,642
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 0
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, ME
    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 addressbulletWWW.WALTERFOUNDATION.ORG
    14
    The books are in care ofbulletNEIL SUMNER CPA Telephone no.bullet (212) 938-1930
    Located atbullet115 WEST 29TH ST SUITE 603NEW YORKNY ZIP+4bullet100015060
    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
    FRANK G HELMAN PRESIDENT
    30.00     		60,266 0 266
    88 APPALACHEE ROAD
    BOOTHBAY HARBOR,ME04538
    MARTHA H PEAK VICE-PRESIDENT
    30.00     		45,266 0 266
    88 APPALACHEE ROAD
    BOOTHBAY HARBOR,ME04538
    CARL R GRIFFIN III SECRETARY
    0.25     		1,800 0 0
    59 ATLANTIC AVE
    BOOTHBAY HARBOR,ME04538
    FRITZ WEINSCHENK TREASURER
    10.00     		30,000 0 0
    3051 GRAND AVENUE
    BALDWIN,NY11510
    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 PRODUCTION AND PUBLICATION OF BOOK ON GUATEMALA LITERACY PROJECT-IN BOTH ENGLISH AND SPANISH TO SHOW POTENTIAL DONORS AND STUDENTS THE BENEFIT OF READING AND SCHOOLING. 1,600
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3...........................bullet1,600
    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
    12,111,458
    b
    Average of monthly cash balances.......................
    1b
    237,079
    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
    12,348,537
    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
    12,348,537
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    185,228
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    12,163,309
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    608,165
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    608,165
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    9,642
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    9,642
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    598,523
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    598,523
    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
    598,523
    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
    960,719
    b
    Program-related investments—total from Part IX-B..................
    1b
    1,600
    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
    962,319
    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
    9,642
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    952,677
    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 7 598,523
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2010:
    a From 2005....... 257,246
    b From 2006....... 301,119
    c From 2007....... 198,918
    d From 2008....... 217,663
    e From 2009....... 348,620
    fTotal of lines 3a through e......... 1,323,566
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 962,319
    a Applied to 2009, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		 0
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2010 distributable amount..... 598,523
    e Remaining amount distributed out of corpus 363,796
    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 1,687,362
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		0
    e Undistributed income for 2009. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		0
    f Undistributed income for 2010. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		0
    8Excess distributions carryover from 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		257,246
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		1,430,116
    10 Analysis of line 9:
    a Excess from 2006.... 301,119
    b Excess from 2007.... 198,918
    c Excess from 2008.... 217,663
    d Excess from 2009.... 348,620
    e Excess from 2010.... 363,796
    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:
    MARTHA H PEAK VICE PRESIDENT AND GR
    OTTO AND FRAN WALTER FOUNDATION 7
    OAK STREET
    BOOTHBAY HARBOR,ME04538
    (207) 633-7300
    bThe form in which applications should be submitted and information and materials they should include:
    E-MAIL TO GRANTS@WALTERFOUNDATION.ORG REQUESTING FOUNDATION'S GUIDELINES FOR GIVING BEFORE SUBMITTING GRANT REQUEST.
    cAny submission deadlines:
    APPLICATIONS CONTINUOUSLY ACCEPTED THROUGHOUT YEAR.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE FOUNDATION DOES NOT MAKE GRANTS TO INDIVIDUALS OR TO ANY PROGRAM OR ORGANIZATION THAT HAS A PURELY RELIGIOUS OR ETHNIC AGENDA OR THAT DISCRIMINATES BASED ON SEX OR SEXUAL ORIENTATION.
    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
    EUROPEAN UNION STUDIES CENTER THE GRADUATE CENTER FOUNDATION
    365 FIFTH AVENUE
    NEW YORK,NY10016     		N/A PUBLIC CHARITY GENERAL CHARITABLE PURPOSES 85,000
    FRIENDS OF THE JEWISH MUSEUM BERLIN
    227 RIDGEVIEW ROAD
    PRINCETON,NJ08540     		N/A PUBLIC CHARITY TO FUND A TEMPORARY ARCHIVAL POSITION 10,000
    METROPOLITAN OPERA NYC
    LINCOLN CENTER
    NEW YORK,NY10023     		N/A PUBLIC CHARITY GENERAL CHARITABLE PURPOSES 5,000
    MUSKINGUM COLLEGE
    163 STORMONT STREET
    NEW CONCORD,OH43762     		N/A PUBLIC CHARITY TO SUPPORT CONSTRUCTION OF NEW BUILDING FOR MUSIC 312,500
    NOTFARORG
    PO BOX 415
    BUCKFIELD,ME04220     		N/A PUBLIC CHARITY GENERAL CHARITABLE PURPOSES 87,500
    SELFHELP COMMUNITY SERVICES
    520 EIGHTH AVENUE
    NEW YORK,NY10018     		N/A PUBLIC CHARITY NAZI VICTIM SERVICES PROGRAM 50,000
    MANNES COLLEGE OF MUSIC
    150 WEST 85TH STREET
    NEW YORK,NY10024     		N/A PUBLIC CHARITY TO FUND CONCERTS IN NURSING HOMES, SENIOR CENTERS AND HOSPITALS 91,500
    COOPERATIVE FOR EDUCATION
    2730 HYDE PARK AVENUE
    CINCINNATI,OH45209     		N/A PUBLIC CHARITY TO SUPPORT THE CULTURE OF READING PROGRAM 25,000
    FED ASSOC INFO & ADVICE FOR NAZI VICTIM
    HOLWEIDER STR 13-15
    COLOGNE   51065
    GM     		N/A PUBLIC CHARITY TO AID NAZI VICTIMS; TO OBTAIN GOV'T BENEFITS 10,000
    BRANDEIS UNIVERSITY
    415 SOUTH STREET
    WALTHAM,MA02453     		N/A PUBLIC CHARITY TO SUPPORT THE CENTER FOR GERMAN AND EUROPEAN STUDIES 30,000
    CRUTCHES 4 AFRICA
    284 SOUTH FRANKLIN STREET
    DENVER,CO80209     		N/A PUBLIC CHARITY TO SUPPORT POLIO SURVIVORS AND DISABLED INDIVIDUALS IN AFRICA 5,000
    JOHN AND ANNIE GLENN MUSEUM FOUNDATION
    72 W MAIN STREET
    NEW CONCORD,OH43762     		N/A PUBLIC CHARITY GENERAL CHARITABLE PURPOSES 3,380
    Total .................................bullet 3a 714,880
    bApproved for future payment
    MANNES COLLEGE OF MUSIC
    150 WEST 85TH STREET
    NEW YORK,NY10023     		N/A PUBLIC CHARITY TO FUND CONCERTS IN NURSING HOMES, SENIOR CENTERS AND HOSPITALS 88,500
    COOPERATIVE FOR EDUCATION
    2730 HYDE PARK AVENUE
    CINCINNATI,OH45209     		N/A PUBLIC CHARITY TO SUPPORT THE CULTURE OF READING PROGRAM 25,000
    FRIENDS OF THE JEWISH MUSEUM BERLIN
    227 RIDGEVIEW ROAD
    PRINCETON,NJ08540     		N/A PUBLIC CHARITY TO FUND A TEMPORARY ARCHIVAL POSITION 10,000
    Total ..................................bullet 3b 123,500
    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....     14 341,723  
    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     18 733,350  
    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 1,075,073 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    131,075,073
    (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:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    QUARTERLY ACCOUNTING 6,000 3,000   3,000
    PREPARATION OF FINANCIAL STMTS 4,450 2,225   2,225
    TAX REPORT SERVICES 4,500 2,250   2,250

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

    TY 2010 DepreciationSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    FURNITURE 2004-09-01 3,177 2,421 SL 7.000000000000 454 0    
    COMPUTERS 2005-06-14 2,127 1,948 SL 5.000000000000 179 0    
    FURNITURE 2005-03-03 1,122 774 SL 7.000000000000 160 0    
    EQUIPMENT 2006-07-01 3,024 2,117 SL 5.000000000000 605 0    
    FURNITURE & FIXTURES 2007-07-01 8,049 2,875 SL 7.000000000000 1,150 0    
    OFFICE EQUIPMENT 2007-07-01 1,091 545 SL 5.000000000000 218 0    
    FURNITURE & FIXTURES 2008-02-06 1,470 403 SL 7.000000000000 210 0    
    COMPUTERS 2008-05-07 1,593 531 SL 5.000000000000 319 0    
    DRIVEWAY 2008-11-17 9,300 672 SL 15.000000000000 620 0    
    FILING CABINET 2009-03-27 1,102 118 SL 7.000000000000 157 0    
    COMPUTERS 2010-11-16 4,501   SL 5.000000000000 75 0    

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Name of Bond End of Year Book Value End of Year Fair Market Value
    250,000 GE CAPITAL 5.4% DUE 02/15/2017 248,892 268,000
    150,000 GOLDMAN SACHS 5.25% DUE 10/15/2013 151,210 162,360
    100,000 HONEYWELL 5.3% DUE 03/01/2018 106,632 111,255
    150,000 IBM 5.7% DUE 09/14/2017 155,269 172,352
    100,000 LOWES 5.6% DUE 09/15/2012 101,849 107,900
    150,000 MCDONALDS CORP. 5.75% DUE 03/01/2012 152,254 158,180
    100,000 METLIFE 6.125% DUE 12/01/2011 100,689 104,896
    150,000 ORACLE 5% DUE 07/08/2019 156,864 162,335
    150,000 TARGET CORPORATION 5.875% DUE 07/15/2016 154,693 173,224
    150,000 JP MORGAN CHASE 6% DUE 01/15/2018 161,256 167,276
    100,000 MEDTRONIC 4.75% DUE 09/15/2015 106,703 110,280
    125,000 FRANKLIN RESOURCES 3.125% DUE 05/20/2015 132,265 127,179

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Name of Stock End of Year Book Value End of Year Fair Market Value
    1,990 A G C O CORP 72,465 100,813
    8,635 A T & T 226,171 253,696
    1,360 ALLIED WORLD ASSURANCE 76,993 80,838
    890 AMERICAN EXPRESS 25,236 38,199
    1,930 AMERIPRISE FINANCIAL INC. 84,591 111,072
    2,620 AMERISOURCEBERGEN 47,044 89,394
    2,420 AMERN FINANCIAL GROUP 71,528 78,142
    1,940 AMGEN INCORPORATED 120,456 106,506
    980 APPLE INC 211,930 316,109
    2,540 ATMOS ENERGY CORP 69,305 79,248
    330 AUTOZONE INC 51,970 89,955
    1,060 BMC SOFTWARE INC 47,365 49,968
    910 BOSTON PROPERTIES INC 79,390 78,351
    3,960 BRISTOL-MYERS SQUIBB CO 99,048 104,861
    3,890 CA INC 87,653 95,072
    5,660 CBS CORPORATION CL B NEW 76,413 107,823
    630 CAPITAL ONE FINANCE 23,920 26,813
    1,130 CEPHALON INC 79,763 69,744
    2,354 CHEVRON TEXACO COR 158,447 214,803
    2,214 CISCO SYSTEMS INC 48,863 44,789
    18,510 CITIGROUP INC 82,563 87,552
    4,340 CMS ENERGY CORP 79,518 80,724
    1,990 COACH INC 83,168 110,067
    980 COCA COLA 53,403 64,455
    2,370 CONOCOPHILLIPS 170,058 161,397
    790 CUMMINS INC 39,508 86,908
    1,600 DEERE & CO. 93,175 132,880
    1,440 DEVON ENERGY CP NEW 103,200 113,054
    2,360 DR PEPPER SNAPPLE CO 69,757 82,978
    660 DUN & BRADSTREET CP NEW 47,418 54,179
    1,150 EASTMAN CHEMICAL CO 78,614 96,692
    2,510 ENDO PHARM HOLDINGS INC 71,713 89,632
    550 ENERGIZER HOLDING INC 36,582 40,095
    3,405 EXXON MOBIL CORP 159,987 248,974
    3,720 EXCO RESOURCES INC 76,693 72,242
    3,700 FIFTH THIRD BANCORP 36,413 54,316
    2,070 GAP INC 44,390 45,830
    7,535 GENERAL ELECTRIC CO 144,108 137,815
    2,250 GILEAD SCIENCES INC 93,898 81,540
    4,720 GOODYEAR TIRE & RUBBER 66,539 55,932
    130 GOOGLE INC CLASS A 72,152 77,216
    3,040 HALLIBURTON CO HLDG CO 99,997 124,123
    3,785 HEWLETT-PACKARD CO 120,863 159,349
    2,750 HONEYWELL INTERNATIONAL 131,645 146,190
    3,980 INTEL CORP 63,709 83,699
    1,825 INTERNATIONAL BUSINESS MACHINES CORP 163,059 267,837
    3,550 INTERNATIONAL PAPER 56,667 96,702
    2,090 J B HUNT TRANSPORT SVCS 70,148 85,293
    2,030 JOHNSON & JOHNSON 123,085 125,556
    2,300 JPMORGAN CHASE & CO 90,849 97,566
    2,520 LIMITED BRANDS INC 85,370 77,440
    3,510 MACYS INC FKA FEDERATED DEPT STORES INC 83,558 88,803
    1,830 MARATHON OIL CORP 59,253 67,765
    800 MCDONALDS CORP 41,210 61,408
    1,600 MEDCOHEALTH SOLUTIONS 64,347 98,032
    9,370 MICROSOFT CORP 272,216 261,517
    2,990 NORTHEAST UTILITIES 80,089 95,321
    4,630 NEW YORK CMNTY BANCORP 73,066 87,276
    850 PANERA BREAD CO CL A 81,487 86,029
    1,380 PARKER-HANNIFIN CORP 80,736 119,094
    1,170 P P G INDUSTRIES INC 80,657 98,362
    590 PIONEER NATURAL RES CO 38,982 51,224
    1,600 PROCTER AND GAMBLE 102,381 102,928
    980 PRUDENTIAL FINANCIAL 39,000 57,536
    2,880 QUALCOMM INC 137,853 142,531
    2,650 RAYMOND JAMES FINANCIAL INC 80,220 86,655
    1,680 ROCKWELL AUTOMATION INC 94,249 120,473
    1,030 SIMON PROPERTY GROUP NEW REIT 101,507 102,475
    3,820 TEXAS INSTRUMENTS INC 95,117 124,150
    1,750 TRAVELERS COMPANIES INC 96,825 97,493
    3,040 UNITEDHEALTH GROUP INC 110,087 109,774
    2,250 UNITED PARCEL SERVICE 134,305 163,305
    3,190 VERIZON COMMUNICATIONS 102,437 114,138
    1,140 WATERS CORP 73,409 88,589
    1,910 WATSON PHARMACEUTICALS 82,256 98,652
    3,830 WELLS FARGO & CO NEW 107,730 118,692
    370 WHITING PETROLEUM CORP 39,385 43,360

    TY 2010 InvestmentsGovtObligationsSch
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    US Government Securities - End of Year Book Value:

    2,357,142
    US Government Securities - End of Year Fair Market Value:

    2,590,067
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2010 LandEtcSchedule2
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    FURNITURE 3,177 2,875 302 0
    COMPUTERS 2,127 2,127   0
    FURNITURE 1,122 934 188 0
    EQUIPMENT 3,024 2,722 302 0
    FURNITURE & FIXTURES 8,049 4,025 4,024 0
    OFFICE EQUIPMENT 1,091 763 328 0
    FURNITURE & FIXTURES 1,470 613 857 0
    COMPUTERS 1,593 850 743 0
    DRIVEWAY 9,300 1,292 8,008 0
    FILING CABINET 1,102 275 827 0
    COMPUTERS 4,501 75 4,426 0


    TY 2010 OtherAssetsSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SECURITY DEPOSIT - RENT 960 960 960
    ACCRUED INVESTMENT INCOME 41,668 41,978 41,978
    PAINTING 20,000 20,000 20,000


    TY 2010 OtherDecreasesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Description Amount
    PROGRAM RELATED EXPENSES 1,600


    TY 2010 OtherExpensesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TEL, COMPUTER & INTERNET 5,951 1,488   4,463
    INSURANCE 1,668 417   1,251
    OFFICE & POSTAGE 12,182 3,046   9,136
    DUES,FEES & PERMITS 2,594 0   2,594


    TY 2010 OtherIncreasesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Description Amount
    ACCRUED GRANTS PAID 410,000


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVICE 74,225 37,113   36,910


    TY 2010 TaxesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE 9,643 0   0
    PAYROLL 13,261 3,315   9,946