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 07-01-2010 , and ending 06-30-2011
G
Check all that apply:
Name of foundation
LEO ADLER COMMUNITY FUND 97331640
 

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

93-6289087
B Telephone number (see page 10 of the instructions)

(503) 275-4327
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$25,243,604J 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...... 654,040 654,040  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,982,398
b Gross sales price for all assets on line 6a 14,671,280
7 Capital gain net income (from Part IV, line 2)... 1,982,398
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 2,636,438 2,636,438  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 281,593 253,433   28,159
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 4,000 0 0 4,000
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 31,195 10,697   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 51,408     51,408
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 368,196 264,130 0 83,567
25 Contributions, gifts, grants paid........ 934,784 934,784
26 Total expenses and disbursements. Add lines 24 and 25 1,302,980 264,130 0 1,018,351
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,333,458
b Net investment income (if negative, enter -0-) 2,372,308
c Adjusted net income (if negative, enter -0-)... 0
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2010)
Form 990-PF (2010)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 321,118 226,023 226,023
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 16,278,384 Click to see attachment18,027,538 20,622,861
c Investments—corporate bonds (attach schedule)........ 4,585,634 Click to see attachment4,269,705 4,394,720
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........     0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 21,185,136 22,523,266 25,243,604
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 21,185,136 22,523,266
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).................... 21,185,136 22,523,266
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 21,185,136 22,523,266
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 21,185,136
2 Enter amount from Part I, line 27a...................... 2 1,333,458
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 21,101
4 Add lines 1, 2, and 3.......................... 4 22,539,695
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 16,429
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 22,523,266
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 334. ABB LTD A D R   2009-04-27 2011-05-06
b 200. ADC TELECOMMUNICATIONS INC   2008-03-27 2010-12-10
c 1084. AFLAC INC   2009-06-23 2010-07-29
d 2364.867 ABERDEEN FDS EMRGN   2011-04-25 2011-06-24
e 5600.857 ABERDEEN FDS EMRGN   2011-04-25 2011-06-24
168. AGRIUM INC   2009-03-03 2011-05-06
669. ALLERGAN INC   2009-10-23 2011-04-25
102. AMEDISYS INC   2008-10-09 2010-07-29
134. AMEDISYS INC   2008-03-20 2011-04-25
7395.158 AMERICAN CENT EQUITY INCOME CL INST   2011-04-25 2011-05-06
10819.085 AMERICAN CENTY INTL BOND FD INSTL   2010-08-05 2010-11-23
3226.886 AMERICAN CENTY INTL BOND FD INSTL   2010-08-05 2011-03-24
7190.681 AMERICAN CENTY INTL BOND FD INSTL   2009-10-23 2011-03-24
7216.495 AMERICAN CENTY INTL BOND FD INSTL   2010-08-05 2011-03-24
25316.811 AMERICAN CENTY INTL BOND FD INSTL   2009-09-25 2011-03-24
8623.57 AMERICAN CENTY INTL BOND FD INSTL   2009-06-17 2011-04-25
21453.107 AMERICAN CENTY INTL BOND FD INSTL   2010-02-18 2011-04-25
658.655 AMERICAN CENTY SMALL CP GROWTH INSTL   2010-07-29 2010-08-05
831.658 AMERICAN CENTY SMALL CP GROWTH INSTL   2009-07-13 2010-08-05
323.453 AMERICAN CENTY SMALL CP GROWTH INSTL   2010-07-29 2010-08-05
1464.923 AMERICAN CENTY SMALL CP GROWTH INSTL   2009-07-01 2010-08-05
2507. AMERICAN EXPRESS CO   2009-06-02 2010-07-29
. AMERICAN INTERNATIONAL GROUP INC     2010-09-24
. AMERICAN INTERNATIONAL GROUP INC     2010-09-24
3712. ANGLO AMERICAN PLC A D R   2010-05-25 2010-07-29
372. APACHE CORP   2009-10-23 2011-04-25
730. APACHE CORP   2009-09-10 2011-04-25
34. APPLE COMPUTER INC   2009-03-03 2011-04-25
293. ASTRAZENECA P L C SPSD A D R   2008-07-22 2011-05-06
134. ASTRAZENECA P L C SPSD A D R   2008-10-23 2011-05-06
833. ATLAS COPCO AB A D R CL B   2008-03-20 2011-05-06
477. ATLAS COPCO AB A D R CL B   2008-03-20 2011-05-06
898. B M C SOFTWARE INC   2009-08-13 2011-04-25
1477. B M C SOFTWARE INC   2009-09-10 2011-04-25
1183. BANCO SANTANDER CENT HISPANO A D R   2008-03-20 2010-07-29
2769. BANK OF AMERICA CORP   2009-06-17 2011-04-25
829. IPATH DOW JONES UBS COMMODITY   2011-04-25 2011-06-24
710. IPATH DOW JONES UBS COMMODITY   2011-04-25 2011-06-24
482. B E AEROSPACE INC   2009-01-06 2011-04-25
448. B E AEROSPACE INC   2008-11-24 2011-04-25
136. BEST BUY INC   2009-03-31 2011-04-25
179. BLACKROCK INC   2009-10-30 2011-04-25
311. BLACKROCK INC   2010-01-12 2011-04-25
852. BRANDYWINE REALTY TRUST   2009-04-27 2011-04-25
1668. BRISTOL MYERS SQUIBB CO   2009-10-30 2011-04-25
125. BRITISH AMERN TOB PLC ADR   2009-01-13 2011-04-25
98. CAPELLA EDUCATION CO   2009-04-23 2010-07-29
256. CENTRAL EUROPEAN DISTRIBUTION CORP   2009-04-20 2011-04-25
734. CISCO SYS INC   2008-03-20 2011-04-25
968. CLIFFS NATURAL RESOURCES INC   2010-03-25 2011-04-25
557. COMERICA INC   2009-09-17 2011-05-06
1118. COMERICA INC   2010-02-18 2011-05-06
132. COMTECH TELECOMMUNICATIONS CORP   2008-03-20 2010-07-29
246. CRANE CO   2009-04-20 2011-05-06
711.744 CREDIT SUISSE COMM RET ST CO   2007-09-04 2010-08-05
2250.426 CREDIT SUISSE COMM RET ST CO   2007-09-04 2011-04-25
4188.845 CREDIT SUISSE COMM RET ST CO   2009-07-08 2011-04-25
2150.331 CREDIT SUISSE COMM RET ST CO   2010-08-11 2011-04-25
25159.354 CREDIT SUISSE COMM RET ST CO   2009-09-25 2011-04-25
2369.95 CREDIT SUISSE COMM RET ST CO   2009-10-30 2011-04-25
4959.572 CREDIT SUISSE COMM RET ST CO   2010-11-23 2011-04-25
4752.783 CREDIT SUISSE COMM RET ST CO   2009-06-23 2011-04-25
5398.834 CREDIT SUISSE COMM RET ST CO   2010-07-29 2011-05-06
9622.004 CREDIT SUISSE COMM RET ST CO   2010-01-12 2011-06-24
8288.658 CREDIT SUISSE COMM RET ST CO   2009-10-30 2011-06-24
229. CUBIST PHARMACEUTICALS INC   2008-10-23 2011-04-25
273. DESARROLLADORA HOMEX A D R   2009-04-20 2011-04-25
132. DISNEY WALT CO   2008-03-27 2010-07-29
22. DIRECTV CL A   2010-05-25 2011-05-06
116.025 DODGE & COX STOCK FUND   2011-03-24 2011-04-25
6902.761 EATON VANCE LARGE CAP VAL I   2009-06-11 2010-08-05
94.299 EATON VANCE LARGE CAP VAL I   2009-11-10 2011-03-24
5931.796 EATON VANCE LARGE CAP VAL I   2010-08-05 2011-03-24
17073.008 EATON VANCE LARGE CAP VAL I   2009-08-27 2011-03-24
16245.179 EATON VANCE LARGE CAP VAL I   2010-07-29 2011-03-24
28271.708 EATON VANCE LARGE CAP VAL I   2010-02-18 2011-03-24
1057. EMERSON ELECTRIC CO   2009-06-17 2010-07-29
3199.746 AMERICAN EUROPACIFIC GRTH F2   2010-02-18 2010-07-29
573.252 AMERICAN EUROPACIFIC GRTH F2   2009-07-08 2010-07-29
1060.605 AMERICAN EUROPACIFIC GRTH F2   2009-10-23 2010-07-29
1893.203 AMERICAN EUROPACIFIC GRTH F2   2010-05-25 2010-07-29
4062.151 AMERICAN EUROPACIFIC GRTH F2   2009-07-23 2010-07-29
1923.077 AMERICAN EUROPACIFIC GRTH F2   2010-08-05 2010-11-04
827. EXPRESS SCRIPTS INC   2010-01-12 2011-04-25
1071.429 NUVEEN REAL ESTATE SECS FD CL Y   2010-05-25 2010-08-05
1785.714 NUVEEN REAL ESTATE SECS FD CL Y   2010-05-25 2010-08-05
123.001 NUVEEN REAL ESTATE SECS FD CL Y   2010-05-25 2010-08-11
2806.6 NUVEEN REAL ESTATE SECS FD CL Y   2010-01-12 2011-03-24
4121.541 NUVEEN REAL ESTATE SECS FD CL Y   2010-01-12 2011-03-24
3816.439 NUVEEN SHORT TERM BOND FUND CL Y   2010-04-22 2010-07-29
3810.407 NUVEEN SHORT TERM BOND FUND CL Y   2010-05-25 2010-07-29
2760.898 NUVEEN SHORT TERM BOND FUND CL Y   2010-05-25 2010-07-29
4187.438 NUVEEN SHORT TERM BOND FUND CL Y   2010-04-22 2010-08-11
8646.173 NUVEEN SHORT TERM BOND FUND CL Y   2010-04-22 2010-11-04
10666.426 NUVEEN INTERMD TERM BD FD CL Y   2010-01-12 2010-07-29
32646.757 NUVEEN INTERMD TERM BD FD CL Y   2009-04-27 2010-07-29
98.232 NUVEEN INTERMD TERM BD FD CL Y   2010-03-24 2011-03-24
119.365 NUVEEN INTERMD TERM BD FD CL Y   2002-10-23 2011-03-24
3924.154 NUVEEN INTERMD TERM BD FD CL Y   2009-08-24 2011-03-24
669.856 NUVEEN INFLATION PRO SEC CL Y   2010-08-05 2010-08-11
11220.346 NUVEEN INFLATION PRO SEC CL Y   2010-07-29 2010-11-04
5776.097 NUVEEN TOTAL RETURN BOND FD CL Y   2010-03-30 2010-07-29
932.401 NUVEEN HIGH INCOME BOND FD CL Y   2008-06-09 2010-08-11
7135.324 NUVEEN MID CAP INDEX FUND CL Y   2009-06-23 2010-07-29
581. FLUSHING FINANCIAL CORPORATION   2009-04-27 2011-05-06
63. FOMENTO ECONOMICO MEX SP A D R   2008-03-20 2011-05-06
257. FOSSIL INC   2009-04-27 2011-04-25
3211. GAP INC   2009-09-10 2011-04-25
1266. GENERAL MILLS INC   2009-07-01 2011-04-25
2322. GENERAL MILLS INC   2009-08-19 2011-05-06
3679.776 AMERICAN GRW FD OF AMER F2   2010-03-25 2011-05-11
1969.942 AMERICAN GRW FD OF AMER F2   2010-02-18 2011-05-11
2421. HASBRO INC   2009-09-10 2011-04-25
338. HESS CORP   2009-09-17 2011-04-25
125. HEWLETT PACKARD CO   2008-10-09 2011-04-25
189. HEWLETT PACKARD CO   2008-03-20 2011-04-25
1520. HOME DEPOT INC COMMON STOCK   2009-06-17 2010-07-29
2528. HOME DEPOT INC COMMON STOCK   2009-09-10 2011-04-25
972. ILLINOIS TOOL WORKS   2009-07-13 2010-07-29
1619. ILLINOIS TOOL WORKS   2009-09-17 2010-07-29
661. INTEL CORP   2009-04-20 2011-04-25
131. INTERNATIONAL BUSINESS MACHINES CAPITAL STOCK   2009-03-17 2010-07-29
170. INTERNATIONAL BUSINESS MACHINES CAPITAL STOCK   2009-10-30 2011-04-25
570. ISHARES BARCLAYS TIPS BOND E T F   2010-04-22 2010-07-29
385. ISHARES BARCLAYS TIPS BOND E T F   2010-04-22 2011-04-25
5. ISHARES BARCLAYS AGGREGATE E T F   2009-12-14 2011-03-24
2034. ISHARES MSCI EMERGING MKTS E T F   2010-05-25 2010-07-29
2307. ISHARES MSCI EMERGING MKTS E T F   2010-05-25 2010-07-29
357. ISHARES MSCI EMERGING MKTS E T F   2008-07-22 2010-11-04
6. ISHARES MSCI EMERGING MKTS E T F   2009-12-14 2011-03-24
851. ISHARES MSCI EMERGING MKTS E T F   2008-03-20 2011-03-24
1663. ISHARES MSCI EMERGING MKTS E T F   2008-07-03 2011-03-24
1032. ISHARES MSCI EMERGING MKTS E T F   2010-01-12 2011-06-24
2820. ISHARES MSCI EMERGING MKTS E T F   2011-05-06 2011-06-24
387. KBR INC   2008-12-08 2011-04-25
2888. KEPPEL CORP LTD SPONS A D R   2008-03-20 2011-05-06
1640. KEPPEL CORP LTD SPONS A D R   2008-03-20 2011-05-06
.8 KEPPEL CORP LTD SPONS A D R   2008-03-20 2011-05-23
143. MWI VETERINARY SUPPLY INC   2008-03-20 2011-04-25
569. MARINER ENERGY INC   2008-12-19 2010-07-29
257. MEDCO HEALTH SOLUTIONS INC   2008-09-19 2011-04-25
104. MEDCO HEALTH SOLUTIONS INC   2008-03-20 2011-04-25
2695. MICROSOFT CORP   2009-09-25 2011-04-25
1427. MICROSOFT CORP   2009-10-30 2011-04-25
89. MIDDLEBY CORP   2008-03-20 2011-04-25
46. MIDDLEBY CORP   2009-03-03 2011-04-25
955. MITSUBISHI UFJ FINL GRP A D R   2008-03-20 2011-04-25
22. MITSUI & CO LTD SPSD ADR   2009-04-13 2011-05-06
24. MITSUI & CO LTD SPSD ADR   2009-04-20 2011-05-06
22578.491 FRANKLIN MUTUAL SHARES   2011-03-24 2011-04-25
11973.122 FRANKLIN MUTUAL SHARES   2011-03-24 2011-04-25
155. NESTLE SA SPONSORED A D R   2009-04-23 2010-07-29
183. NESTLE SA SPONSORED A D R   2008-03-20 2011-04-25
767.853 NEUBERGER BERMAN GENESIS INSTL FD   2009-06-17 2010-08-05
528.594 NEUBERGER BERMAN GENESIS INSTL FD   2009-10-23 2010-08-05
495.209 NEUBERGER BERMAN GENESIS INSTL FD   2009-06-17 2010-08-05
533.534 NEUBERGER BERMAN GENESIS INSTL FD   2011-03-24 2011-04-25
1476.77 NEUBERGER BERMAN GENESIS INSTL FD   2009-10-23 2011-04-25
213.466 NEUBERGER BERMAN GENESIS INSTL FD   2011-03-24 2011-04-25
1564.813 NEUBERGER BERMAN GENESIS INSTL FD   2010-03-25 2011-04-25
7680.983 NUVEEN HIGH INCOME BOND FD CL I   2011-03-24 2011-04-25
1994.329 NUVEEN REAL ESTATE SECURIT CL I   2010-01-12 2011-04-25
12434.13 NUVEEN CORE BOND FD CL I   2010-07-29 2011-04-25
17479.749 NUVEEN CORE BOND FD CL I   2010-04-22 2011-04-25
16807.129 NUVEEN CORE BOND FD CL I   2010-07-29 2011-04-25
37929.683 NUVEEN CORE BOND FD CL I   2010-04-22 2011-04-25
11998.134 NUVEEN INFLATION PRO SEC CL I   2010-08-05 2011-04-25
274.212 NUVEEN INFLATION PRO SEC CL I   2010-04-22 2011-04-25
445. OCCIDENTAL PETROLEUM CORPORATION   2010-03-25 2011-04-25
522. OCCIDENTAL PETROLEUM CORPORATION   2009-09-10 2011-05-06
1299. OCEANEERING INTERNATIONAL INC   2010-02-18 2010-07-29
1260. LUKOIL SPON A D R   2010-02-18 2010-07-29
6355.186 P I M C O FDS TOTAL RETURN FD   2011-04-25 2011-05-06
1597. PFIZER INC COMMON STOCK   2009-07-08 2011-05-06
574.713 PIONEER FUND CL Y   2009-06-17 2010-08-11
15779.683 PIONEER FUND CL Y   2010-03-25 2011-04-25
1388.889 PIONEER FUND CL Y   2010-08-05 2011-04-25
8857.126 PIONEER FUND CL Y   2010-03-25 2011-04-25
38.231 PIONEER FUND CL Y   2010-07-29 2011-06-24
367.862 PIONEER FUND CL Y   2010-05-25 2011-06-24
108. QUALCOMM INC   2008-09-19 2011-04-25
54. RWE AG A D R   2008-12-19 2011-04-25
1356. RED ROBIN GOURMET BURGERS   2010-01-12 2011-05-06
11215. REGIONS FINL CORP   2010-02-18 2011-04-25
118.046 ROWE T PRICE MID-CAP GROWTH FD #64   2010-02-18 2010-07-29
369.499 ROWE T PRICE MID-CAP GROWTH FD #64   2010-02-18 2011-03-24
1380.973 ROWE T PRICE MID-CAP GROWTH FD #64   2010-02-18 2011-03-24
4500.955 T ROWE PRICE INTL GR&INC FD   2010-08-05 2011-04-25
7253.39 T ROWE PRICE INTL GR&INC FD   2010-08-05 2011-04-25
168.071 T ROWE PRICE SM CAP VAL   2009-09-25 2010-08-05
308.788 T ROWE PRICE SM CAP VAL   2009-09-10 2010-08-05
1118.694 ROWE T PRICE MID-CAP VALUE FD INC   2009-06-11 2011-03-24
1169.864 ROWE T PRICE MID-CAP VALUE FD INC   2010-08-05 2011-04-25
. ROYAL DUTCH PETE NY REG N GLDR 1.25     2011-06-29
. ROYAL DUTCH PETE NY REG N GLDR 1.25     2011-06-29
354. SPDR S&P 500 ETF TRUST   2010-05-25 2010-07-29
2671. SPDR S&P 500 ETF TRUST   2008-09-24 2010-07-29
1314. SPDR S&P 500 ETF TRUST   2010-05-25 2010-07-29
5020. SPDR S&P 500 ETF TRUST   2008-09-24 2010-07-29
114. SPDR GOLD TRUST   2009-08-13 2011-06-24
94. SPDR GOLD TRUST   2009-07-13 2011-06-24
172. MIDCAP SPDR TRUST SERIES I E T F   2010-01-12 2011-04-25
465.616 SCOUT INTERNATIONAL FUND   2009-07-23 2010-08-11
1777.125 SCOUT INTERNATIONAL FUND   2010-07-29 2011-04-25
258. SILGAN HLDGS INC   2009-10-30 2011-04-25
302. STATOIL ASA A D R   2009-01-13 2010-07-29
283. SYNIVERSE HLDGS INC   2008-10-09 2011-01-13
303. SYNIVERSE HLDGS INC   2008-10-23 2011-01-13
2762. SYSCO CORP   2009-08-19 2011-04-25
289. TAKEDA PHARMACEUTICAL SP A D R   2009-04-23 2010-07-29
701. TARGET CORP   2010-05-25 2011-04-25
857.044 TEMPLETON INSTL EMERGING MKT SER ADV   2009-08-27 2010-11-04
13.852 TEMPLETON INSTL EMERGING MKT SER ADV   2009-11-10 2011-03-24
2044.905 TEMPLETON INSTL EMERGING MKT SER ADV   2009-08-27 2011-03-24
5509.679 TEMPLETON INSTL EMERGING MKT SER ADV   2009-06-11 2011-03-24
2393.051 TEMPLETON INSTL EMERGING MKT SER ADV   2009-06-11 2011-04-25
671.394 TEMPLETON INSTL EMERGING MKT SER ADV   2009-06-17 2011-04-25
3672.997 TEMPLETON INSTL EMERGING MKT SER ADV   2009-07-08 2011-04-25
2532.999 TEMPLETON INSTL EMERGING MKT SER ADV   2009-07-08 2011-04-25
5098.572 TEMPLETON INSTL EMERGING MKT SER ADV   2010-08-05 2011-04-25
1821.018 TEMPLETON INSTL EMERGING MKT SER ADV   2010-05-25 2011-06-24
3925.119 TEMPLETON INSTL EMERGING MKT SER ADV   2009-07-08 2011-06-24
113. TEVA PHARMACEUTICALS INDS LTD ADR   2009-04-20 2010-07-29
520. TITAN MACHY INC   2009-04-23 2011-04-25
472. TOKIO MARINE HOLDINGS A D R   2008-12-19 2011-05-06
180. TOKIO MARINE HOLDINGS A D R   2009-01-06 2011-05-06
648. TOTAL S A A D R   2009-09-10 2011-05-06
307. TRUE RELIGION APPAREL INC   2009-04-23 2010-07-29
1477. TURKCELL ILETISIM HIZMET A D R   2008-03-20 2011-05-06
406. TURKCELL ILETISIM HIZMET A D R   2009-04-27 2011-05-06
217. UNILEVER PLC SPSD ADR   2008-12-19 2011-04-25
. UNITED HEALTH GROUP INCORPORATED     2011-01-06
. UNITED HEALTH GROUP INCORPORATED     2011-01-06
452. VALE SA SP A D R   2008-03-20 2011-05-06
246. WMS INDS INC   2008-11-24 2011-04-25
100. WMS INDS INC   2010-03-25 2011-04-25
3608. WERNER ENTERPRISES INC   2010-01-12 2011-04-25
3777. WILLIAMS COS INC   2009-09-17 2011-04-25
26. ZURICH FINANCIAL SVCS A D R   2010-07-29 2011-04-25
450. ACCENTURE PLC CL A   2005-02-18 2011-04-25
357. ACCENTURE PLC CL A   2005-02-18 2011-04-25
305. CENTRAL EUROPEAN MEDIA ENT A   2009-04-20 2011-04-25
(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 8,674   4,846 3,828
b 2,550   2,492 58
c 54,011   32,984 21,027
d 33,983   36,129 -2,146
e 80,484   85,567 -5,083
14,107   5,394 8,713
52,148   37,764 14,384
2,656   4,902 -2,246
4,470   5,212 -742
56,129   55,538 591
154,929   158,386 -3,457
45,983   46,117 -134
102,467   105,608 -3,141
102,835   105,000 -2,165
360,765   369,543 -8,778
125,387   122,713 2,674
311,928   302,213 9,715
4,420   4,495 -75
5,580   4,092 1,488
2,170   2,207 -37
9,830   7,603 2,227
111,552   62,274 49,278
59     59
115     115
72,607   65,999 6,608
45,836   37,031 8,805
89,946   65,114 24,832
11,980   3,017 8,963
14,782   13,513 1,269
6,760   5,028 1,732
19,850   12,037 7,813
11,367   6,893 4,474
44,455   31,196 13,259
73,118   53,668 19,450
15,464   22,193 -6,729
34,339   35,416 -1,077
38,730   43,777 -5,047
33,171   37,493 -4,322
18,029   4,434 13,595
16,757   3,042 13,715
4,092   5,196 -1,104
35,157   38,576 -3,419
61,082   74,486 -13,404
10,488   4,559 5,929
46,262   36,510 9,752
10,761   6,568 4,193
9,007   5,030 3,977
3,251   4,514 -1,263
12,522   18,217 -5,695
94,794   69,284 25,510
20,860   16,954 3,906
41,869   38,849 3,020
2,859   5,219 -2,360
11,717   4,641 7,076
6,000   7,900 -1,900
22,797   24,980 -2,183
42,433   31,081 11,352
21,783   18,000 3,783
254,864   204,299 50,565
24,008   20,476 3,532
50,240   44,537 5,703
48,146   38,070 10,076
50,155   43,839 6,316
87,272   82,842 4,430
75,178   71,614 3,564
7,690   4,544 3,146
7,720   5,853 1,867
4,452   4,287 165
1,072   806 266
13,303   13,133 170
115,000   99,046 15,954
1,755   1,484 271
110,391   100,944 9,447
317,729   226,899 90,830
302,323   264,900 37,423
526,136   387,190 138,946
52,533   35,409 17,124
119,223   114,853 4,370
21,359   18,701 2,658
39,518   41,247 -1,729
70,541   66,085 4,456
151,356   135,015 16,341
81,808   73,269 8,539
46,055   36,778 9,277
18,000   16,414 1,586
30,000   27,621 2,379
2,000   1,884 116
52,624   39,573 13,051
77,279   58,114 19,165
38,203   38,279 -76
38,142   38,028 114
27,637   27,554 83
42,000   42,000  
87,153   86,721 432
110,611   107,961 2,650
338,547   291,209 47,338
1,020   1,000 20
1,239   1,202 37
40,733   38,496 2,237
7,000   6,940 60
122,302   115,121 7,181
60,187   59,783 404
8,000   8,423 -423
78,275   57,083 21,192
8,287   5,017 3,270
3,861   2,472 1,389
24,777   5,001 19,776
71,283   69,392 1,891
48,398   36,668 11,730
89,674   67,964 21,710
118,562   99,971 18,591
63,472   53,048 10,424
108,846   68,836 40,010
27,070   19,144 7,926
5,074   5,020 54
7,671   8,798 -1,127
42,467   36,556 5,911
94,520   69,391 25,129
42,159   35,457 6,702
70,221   71,617 -1,396
14,482   10,060 4,422
16,782   11,984 4,798
28,498   20,583 7,915
60,355   59,712 643
42,456   40,332 2,124
526   524 2
83,722   77,806 5,916
94,959   85,423 9,536
17,271   15,403 1,868
284   250 34
40,245   36,100 4,145
78,692   72,123 6,569
47,100   43,723 3,377
128,703   135,980 -7,277
14,257   5,491 8,766
52,705   36,100 16,605
29,929   20,500 9,429
14   10 4
11,559   5,107 6,452
13,565   5,250 8,315
14,893   12,526 2,367
6,027   4,649 1,378
68,697   69,151 -454
36,375   39,825 -3,450
7,756   5,490 2,266
4,009   963 3,046
4,345   8,270 -3,925
7,656   5,345 2,311
8,352   5,665 2,687
496,501   488,373 8,128
263,289   258,979 4,310
7,680   4,994 2,686
11,216   9,018 2,198
30,000   24,124 5,876
20,652   19,151 1,501
19,348   15,406 3,942
26,949   26,036 913
74,592   53,503 21,089
10,782   10,417 365
79,039   57,403 21,636
70,972   70,435 537
39,607   28,120 11,487
142,495   139,383 3,112
200,318   192,386 7,932
192,610   188,808 3,802
434,674   421,925 12,749
129,820   123,613 6,207
2,967   2,791 176
44,597   36,961 7,636
55,627   39,933 15,694
64,547   73,377 -8,830
73,520   65,941 7,579
70,098   69,844 254
32,714   23,380 9,334
20,000   16,895 3,105
678,684   476,626 202,058
59,736   50,000 9,736
380,945   264,560 116,385
1,568   1,344 224
15,090   12,636 2,454
6,141   5,222 919
3,364   4,581 -1,217
37,466   23,705 13,761
79,401   72,561 6,840
5,878   5,641 237
23,068   17,658 5,410
86,214   65,997 20,217
64,994   55,677 9,317
104,739   89,724 15,015
5,252   4,713 539
9,650   8,624 1,026
27,632   18,727 8,905
29,434   25,000 4,434
33     33
34     34
39,000   37,407 1,593
294,265   317,822 -23,557
144,764   142,020 2,744
553,055   597,330 -44,275
16,746   10,704 6,042
13,808   8,494 5,314
31,025   23,111 7,914
13,000   11,603 1,397
61,329   50,559 10,770
11,883   6,939 4,944
6,224   4,904 1,320
8,773   4,857 3,916
9,393   4,664 4,729
79,876   67,557 12,319
6,647   5,101 1,546
34,769   37,647 -2,878
14,621   10,636 3,985
227   199 28
33,516   22,361 11,155
90,304   63,251 27,053
41,878   27,472 14,406
11,749   7,258 4,491
64,277   38,236 26,041
44,327   26,369 17,958
89,225   75,000 14,225
29,573   22,096 7,477
63,744   40,860 22,884
5,398   4,992 406
16,234   5,122 11,112
13,107   13,471 -364
4,998   5,004 -6
38,212   39,671 -1,459
7,512   5,142 2,370
21,073   32,686 -11,613
5,793   4,843 950
7,022   5,090 1,932
37     37
65     65
12,570   11,473 1,097
7,992   5,473 2,519
3,249   4,169 -920
94,744   76,886 17,858
120,257   70,099 50,158
699   558 141
25,425   11,160 14,265
20,170   9,066 11,104
6,167   4,758 1,409
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       3,828
b       58
c       21,027
d       -2,146
e       -5,083
      8,713
      14,384
      -2,246
      -742
      591
      -3,457
      -134
      -3,141
      -2,165
      -8,778
      2,674
      9,715
      -75
      1,488
      -37
      2,227
      49,278
      59
      115
      6,608
      8,805
      24,832
      8,963
      1,269
      1,732
      7,813
      4,474
      13,259
      19,450
      -6,729
      -1,077
      -5,047
      -4,322
      13,595
      13,715
      -1,104
      -3,419
      -13,404
      5,929
      9,752
      4,193
      3,977
      -1,263
      -5,695
      25,510
      3,906
      3,020
      -2,360
      7,076
      -1,900
      -2,183
      11,352
      3,783
      50,565
      3,532
      5,703
      10,076
      6,316
      4,430
      3,564
      3,146
      1,867
      165
      266
      170
      15,954
      271
      9,447
      90,830
      37,423
      138,946
      17,124
      4,370
      2,658
      -1,729
      4,456
      16,341
      8,539
      9,277
      1,586
      2,379
      116
      13,051
      19,165
      -76
      114
      83
       
      432
      2,650
      47,338
      20
      37
      2,237
      60
      7,181
      404
      -423
      21,192
      3,270
      1,389
      19,776
      1,891
      11,730
      21,710
      18,591
      10,424
      40,010
      7,926
      54
      -1,127
      5,911
      25,129
      6,702
      -1,396
      4,422
      4,798
      7,915
      643
      2,124
      2
      5,916
      9,536
      1,868
      34
      4,145
      6,569
      3,377
      -7,277
      8,766
      16,605
      9,429
      4
      6,452
      8,315
      2,367
      1,378
      -454
      -3,450
      2,266
      3,046
      -3,925
      2,311
      2,687
      8,128
      4,310
      2,686
      2,198
      5,876
      1,501
      3,942
      913
      21,089
      365
      21,636
      537
      11,487
      3,112
      7,932
      3,802
      12,749
      6,207
      176
      7,636
      15,694
      -8,830
      7,579
      254
      9,334
      3,105
      202,058
      9,736
      116,385
      224
      2,454
      919
      -1,217
      13,761
      6,840
      237
      5,410
      20,217
      9,317
      15,015
      539
      1,026
      8,905
      4,434
      33
      34
      1,593
      -23,557
      2,744
      -44,275
      6,042
      5,314
      7,914
      1,397
      10,770
      4,944
      1,320
      3,916
      4,729
      12,319
      1,546
      -2,878
      3,985
      28
      11,155
      27,053
      14,406
      4,491
      26,041
      17,958
      14,225
      7,477
      22,884
      406
      11,112
      -364
      -6
      -1,459
      2,370
      -11,613
      950
      1,932
      37
      65
      1,097
      2,519
      -920
      17,858
      50,158
      141
      14,265
      11,104
      1,409
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 1,982,398
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 941,887 21,894,478 0.043019
2008 1,216,433 19,858,089 0.061256
2007 1,478,340 26,912,654 0.054931
2006 1,339,361 27,302,616 0.049056
2005 1,197,075 26,068,824 0.04592
2 Total of line 1, column (d) ...................... 2 0.254183
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 0.050837
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 24,558,225
5 Multiply line 4 by line 3....................... 5 1,248,455
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 23,723
7 Add lines 5 and 6......................... 7 1,272,178
8 Enter qualifying distributions from Part XII, line 4.............. 8 1,018,351
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 47,446
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 47,446
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 47,446
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 28,379
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 28,379
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 19,067
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 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?.............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletOR
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletUS BANK Telephone no.bullet (503) 275-4327
    Located atbullet555 SW OAKPORTLANDOR ZIP+4bullet97204
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2010?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2010 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2010.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2010?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    US BANK TRUSTEE
    1     		285,593    
    PO BOX 3168
    PORTLAND,OR97208
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3...........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    24,720,287
    b
    Average of monthly cash balances.......................
    1b
    211,921
    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
    24,932,208
    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
    24,932,208
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    373,983
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    24,558,225
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    1,227,911
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,227,911
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    47,446
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    47,446
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,180,465
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    10,359
    5
    Add lines 3 and 4.............................
    5
    1,190,824
    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
    1,190,824
    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
    1,018,351
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes................................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,018,351
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    1,018,351
    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 1,190,824
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 108,241
    b Total for prior years:2008, 20, 20 0
    3 Excess distributions carryover, if any, to 2010:
    a From 2005....... 0
    b From 2006....... 0
    c From 2007....... 0
    d From 2008....... 0
    e From 2009....... 0
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 1,018,351
    a Applied to 2009, but not more than line 2a 108,241
    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..... 910,110
    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 ..........     		280,714
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		0
    8Excess distributions carryover from 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		0
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2006.... 0
    b Excess from 2007.... 0
    c Excess from 2008.... 0
    d Excess from 2009.... 0
    e Excess from 2010.... 0
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    MICHAEL SULLIVAN CO US BANK
    PO BOX 7928
    BOISE,ID83707
    (208) 383-7217
    bThe form in which applications should be submitted and information and materials they should include:
    FORMS, INFORMATION AND MATERIALS: CONTACT ABOVE AVAILABLE UPON REQUEST
    cAny submission deadlines:
    NOT APPLICABLE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SCHOLARSHIPS TO WORTHY STUDENTS WHO ARE GRADUATES OF HIGH SCHOOLS IN BAKER COUNTY, OREGON GRANTS TO TAX EXEMPT ORGANIZATIONS IN THE BAKER COUNTY OREGON AREA
    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
    ADLER HOUSE MUSEUM
    2480 GROVE STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 3,500
    AMERICAN NATIONAL RED CROSS
    EASTERN OREGON CHAPTER
    PO BOX 1024
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 9,000
    APOLLO COLLEGE
    1200 N LIBERTY STREET
    BOISE,ID83704     		NONE COLLEGE SCHOLARSHIPS 2,400
    BAKER AIRCRAFT
    FINANCIAL AID OFFICE
    43769 HEILNER DR
    BAKER CITY,OR97814     		NONE SCHOOL SCHOLARSHIP 1,800
    BAKER CITY FIREMAN'S FUND
    BAKER CITY HALL
    PO BOX 650
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 400
    BAKER CITY LIONS CLUB
    PO BOX 528
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 4,500
    BAKER COMMUNITY CHOIR INC
    1055 IDLEWOOD DR
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,750
    BAKER COMMUNITY CONCERT ASSOCIATION
    3550 CEDAR STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 3,000
    BAKER COUNTY CASA
    1995 THIRD STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 9,000
    BAKER COUNTY COMMUNITY LITERACY
    2400 RESORT STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 2,250
    BAKER COUNTY 4-H LEADERS ASSOCIATIO
    2610 GROVE STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 861
    BAKER COUNTY LIBRARY DISTRICT
    2400 RESORT STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 10,000
    BAKER COUNTY SCHOOL DISTRICT 5J
    2500 E STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 12,000
    BAKER PRESCHOOL INC
    PRESBYTERIAN CHURCH
    PO BOX 164
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 2,000
    BAKER COUNTY SHERRIFF SEARCH
    & RESCUE
    3410 K STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 7,000
    BAKER HERITAGE MUSEUM
    2480 GROVE STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 8,000
    BAKER LITTLE LEAGUE AND BABE RUTH
    INCORPORATED
    PO BOX 505
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 42,500
    BAKER RURAL FIRE PROTECTION DIST
    PO BOX 126
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 21,250
    BEST FRIENDS OF BAKER INC
    PO BOX 183
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 500
    BAKER HIGH FUTURE BUSINESS LEADERS
    2500 E STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 900
    BLUE MOUNTAIN COMMUNITY COLLEGE
    PO BOX 100
    PENDLETON,OR97801     		NONE COLLEGE SCHOLARSHIPS 22,127
    BLUE MOUNTAIN HUMANE SOCIETY
    3212 OLD HWY 30
    LA GRANDE,OR97850     		NONE PUBLIC GENERAL SUPPORT 1,500
    BOISE STATE UNIVERSITY
    FINANCIAL AID OFFICE
    1910 UNIVERSITY DR
    BOISE,ID83725     		NONE UNIVERSITY SCHOLARSHIPS 21,325
    BRIGHAM YOUNG UNIVERSITY - IDAHO
    120 KIMBALL BUILDING
    525 SOUTH CENTER STREET
    REXBURG,ID83460     		NONE UNIVERSITY SCHOLARSHIPS 23,800
    BRIGHAM YOUNG UNIVERSITY - PROVO
    FINANCIAL AID OFFICE
    A-41 ASB
    PROVO,UT84602     		NONE UNIVERSITY SCHOLARSHIPS 14,100
    BURNT RIVER SCHOOL DIST 30J
    PO BOX 8
    UNITY,OR97884     		NONE PUBLIC GENERAL SUPPORT 4,500
    BRIGHAM YOUNG UNIVERSITY - HAWAII
    FINANCIAL AID OFFICE
    55 - 220 KULANUI ST
    LAIE,HI96762     		NONE COLLEGE SCHOLARSHIPS 3,050
    CALVARY BAPTIST CHURCH
    2130 FOURTH STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,000
    CENTRAL OREGON COMMUNITY COLLEGE
    2600 NW COLLEGE WAY
    BEND,OR97701     		NONE COLLEGE SCHOLARSHIPS 4,367
    CHEMEKETA COLLEGE
    FINANCIAL AID OFFICE
    PO BOX 14007
    SALEM,OR97309     		NONE COLLEGE SCHOLARSHIPS 9,850
    CHURCH OF NAZARENE
    1250 HUGHES LANE
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,000
    CITY OF BAKER CITY
    LEO ADLER MEMORIAL PARKWAY
    PO BOX 650
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 45,000
    CITY OF NORTH POWDER
    PO BOX 309
    NORTH POWDER,OR97867     		NONE PUBLIC GENERAL SUPPORT 2,500
    CITY OF BAKER ELKHORN CLASSIC RACE
    PO BOX 650
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 7,000
    CITY OF HALFWAY
    155 B EAST RECORD STREET
    HALFWAY,OR97834     		NONE PUBLIC GENERAL SUPPORT 1,500
    COLLEGE OF THE OZARKS
    PO BOX 17
    POINT LOOKOUT,MO65726     		NONE COLLEGE SCHOLARSHIPS 1,450
    COLLEGE OF WESTERN IDAHO
    5500 EAST UNIVERSITY WAY
    NAMPA,ID83687     		NONE COLLEGE SCHOLARSHIP 5,100
    COLLEGE OF EASTERN UTAH
    FINANCIAL AID OFFICE
    451 EAST 400TH NORTH
    PRICE,UT84501     		NONE COLLEGE SCHOLARSHIPS 3,050
    COLORADO STATE UNIVERSITY
    FT COLLINS
    8024 CAMPUS DELIVERY
    FT COLLINS,CO80523     		NONE UNIVERSITY SCHOLARSHIPS 900
    COLORADO SCHOOL OF MINES
    1600 MAPLE ST
    GOLDEN,CO80401     		NONE SCHOOL SCHOLARSHIP 1,450
    COLUMBIA BASIN COLLEGE
    FINANCIAL AID OFFICE
    2600 N 20TH AVE
    PASCO,WA99301     		NONE COLLEGE SCHOLARSHIPS 1,600
    CONCORDIA UNIVERSITY
    7400 AUGUSTA STREET
    RIVER FOREST,IL60305     		NONE COLLEGE SCHOLARSHIPS 2,400
    CORBAN COLLEGE
    5000 DEER PARK CR SE
    SALEM,OR97301     		NONE COLLEGE SCHOLARSHIPS 2,400
    CORNICOPIA ARTS COUNCIL
    PO BOX 921
    HALFWAY,OR97834     		NONE PUBLIC GENERAL SUPPORT 1,500
    CROSSROADS CREATIVE & PERFORMING
    ARTS
    2020 AUBURN AVE
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 9,750
    DEVRY INSTITUTE OF TECHNOLOGY
    DEPAGE CAMPUS
    1221 NORTH SWIFT ROAD
    ADDISON,IL60101     		NONE COLLEGE SCHOLARSHIPS 1,800
    EASTERN OREGON REGIONAL
    ARTS COUNCIL
    PO BOX 541
    LA GRANDE,OR97850     		NONE PUBLIC GENERAL SUPPORT 2,500
    EASTERN OREGON REGIONAL THEATER
    INC
    2101 MAIN STREET STE 221
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 4,000
    EASTERN OREGON UNIVERSITY
    ONE UNIVERSITY BLVD
    LA GRANDE,OR97850     		NONE UNIVERSITY SCHOLARSHIPS 80,839
    EASTERN WASHINGTON UNIVERSITY
    FINANCIAL AID OFFICE
    SUTTON HALL
    CHENEY,WA99004     		NONE COLLEGE SCHOLARSHIPS 2,400
    FAMILY YMCA OF BAKER COUNTY
    580 BAKER STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 6,000
    FEATHER RIVER COLLEGE
    FINANCIAL AID OFFICE
    570 GOLDEN EAGLE AVE
    QUINCY,CA95971     		NONE COLLEGE SCHOLARSHIPS 1,450
    FIRST LUTHERAN CHURCH
    1734 THIRD STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,000
    FIRST PRESBYTERIAN CHURCH
    1995 FOURTH STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,000
    FIRST WARD LDS CHURCH
    2625 HUGHES LANE
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,000
    FLORIDA COASTAL SCHOOL OF LAW
    FINANCIAL AID OFFICE
    8787 PAYPINE RD
    JACKSONVILLE,FL32256     		NONE COLLEGE SCHOLARSHIPS 1,800
    GEORGE FOX UNIVERSITY
    414 N MERIDIAN ST
    NEWBERG,OR97132     		NONE UNIVERSITY SCHOLARSHIPS 6,550
    GRANDE RONDE SYMPHONY ASSOCIATION
    PO BOX 824
    LA GRANDE,OR97850     		NONE PUBLIC GENERAL SUPPORT 3,000
    HISTORICAL BAKER CITY CHARITABLE
    FUND
    PO BOX 1074
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 20,847
    INLAND MORTHWEST MUSICIANS
    322 SW 3RD OFFICE 1
    PENDLETON,OR97801     		NONE PUBLIC GENERAL SUPPORT 1,500
    ITT TECHNICAL INSTITUTE
    12302 WEST EXPLORER
    BOISE,ID83713     		NONE SCHOOL SCHOLARSHIP 800
    KIWANIS INTERNATIONAL
    PO BOX 132
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 2,528
    LANE COMMUNITY COLLEGE
    ENROLLMENT SERVICES
    4000 E 30TH AVE
    EUGENE,OR97405     		NONE COLLEGE SCHOLARSHIPS 5,450
    LESLEY UNIVERSITY
    29 EVERETT STREET
    CAMBRIDGE,MA02138     		NONE COLLEGE SCHOLARSHIPS 2,800
    LIBERTY UNIVERSITY
    1971 UNIVERSITY BLVD
    LYNCHBURG,VA24502     		NONE UNIVERSITY SCHOLARSHIPS 800
    LINFIELD COLLEGE
    900 SE BAKER ST
    MCMINNVILLE,OR97128     		NONE COLLEGE SCHOLARSHIPS 10,550
    LINN BENTON COMMUNITY COLLEGE
    6500 PACIFIC BLVD SW
    ALBANY,OR97321     		NONE COLLEGE SCHOLARSHIPS 5,350
    LOMA LINDA UNIVERSITY
    11139 ANDERSON STREET
    LOMA LINDA,CA93250     		NONE COLLEGE SCHOLARSHIPS 2,700
    MAYDAY
    1931 COURT AVE
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 25,000
    MIDWESTERN UNIVERSITY
    FINANCIAL AID OFFICE
    19555 N 59TH AVE
    GLENDALE,AZ85308     		NONE UNIVERSITY GENERAL SUPPORT 2,400
    MONTANA STATE UNIVERSITY
    MONTANA HALL ROOM 102
    PO BOX 174160
    BOZEMAN,MT59717     		NONE UNIVERSITY SCHOLARSHIPS 1,025
    MUSIC CAMPS AT WALLOWA LAKE
    PO BOX 636
    LAGRANDE,OR97850     		NONE PUBLIC GENERAL SUPPORT 6,000
    NORTHEAST OREGON COMPASSION CENTER
    PO BOX 665
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 6,000
    NORTH IDAHO COLLEGE
    FINANCIAL AID OFFICE
    1000 W GARDEN AVE
    COEUR D ALENE,ID83814     		NONE COLLEGE SCHOLARSHIPS 1,800
    NORTHWEST NAZARENE UNIVERSITY
    623 HOLLY STREET
    NAMPA,ID83686     		NONE UNIVERSITY SCHOLARSHIPS 7,200
    NW COLLEGE - POWELL
    231 W 6TH ST
    POWELL,WY82435     		NONE COLLEGE SCHOLARSHIPS 1,200
    OCCIDENTAL COLLEGE
    FINNACIAL AID OFFICE
    1600 CAMPUS BLVD
    LOS ANGELES,CA90041     		NONE COLLEGE SCHOLARSHIPS 2,050
    OREGON HEALTH SCIENCES UNIVERSITY
    3181 SW SAM JACKSON PARK RD
    PORTLAND,OR97201     		NONE UNIVERSITY SCHOLARSHIPS 8,450
    OREGON HISTORICAL SOCIETY
    1200 SW PARK AVENUE
    PORTLAND,OR97205     		NONE PUBLIC GENERAL SUPPORT 1,000
    OREGON INSTITUTE OF TECHNOLOGY
    3201 CAMPUS DRIVE
    KLAMATH FALLS,OR97601     		NONE SCHOOL SCHOLARSHIPS 19,650
    OREGON MUSEUM OF SCIENCE AND
    INDUSTRY
    1945 SE WATER AVE
    PORTLAND,OR97214     		NONE PUBLIC GENERAL SUPPORT 2,500
    OREGON STATE UNIVERSITY
    PO BOX 1086
    CORVALLIS,OR97339     		NONE UNIVERSITY SCHOLARSHIPS 47,434
    PACIFIC NW SKI EDUCATIONAL FUND
    ANTHONY LAKES SKI RACING ASSOC
    62216 EVERGREEN
    LAGRANDE,OR97850     		NONE PUBLIC GENERAL SUPPORT 1,500
    PACIFIC UNIVERSITY
    2043 COLLEGE WAY
    FOREST GROVE,OR97116     		NONE UNIVERSITY SCHOLARSHIPS 5,716
    PATRICK HENRY COLLEGE
    ONE PATRICK HENRY CIRCLE
    PURCELLVILLE,VA20132     		NONE COLLEGE SCHOLARSHIP 2,700
    PENSACOLA CHRISTIAN COLLEGE
    FINANCIAL AID OFFICE
    PO BOX 18000
    PENSACOLA,FL32523     		NONE COLLEGE SCHOLARSHIPS 2,050
    PINE EAGLE HEALTH PLANNING
    COMMITTEE
    PO BOX 488
    HALFWAY,OR97834     		NONE PUBLIC GENERAL SUPPORT 5,000
    PINE EAGLE SCHOOL DIST #61
    375 NORTH MAIN STREET
    HALFWAY,OR97834     		NONE PUBLIC GENERAL SUPPORT 3,000
    PINE VALLEY FAIR ASSOCIATION
    250 FAIRGROUNDS ROAD
    HALFWAY,OR97834     		NONE PUBLIC GENERAL SUPPORT 7,500
    PORTLAND COMMUNITY COLLEGE
    OFFICE OF STUDENT FINANCIAL AID
    PO BOX 19000
    PORTLAND,OR97280     		NONE COLLEGE SCHOLARSHIPS 2,050
    PORTLAND STATE UNIVERSITY
    PO BOX 751
    PORTLAND,OR97214     		NONE UNIVERSITY SCHOLARSHIPS 2,400
    RACHEL CENTER CRISIS PREGNANCY HELP
    PO BOX 1086
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 5,000
    ROBINSON JEWISH SOCIETY
    6125 SW BOUNDARY STREET
    PORTLAND,OR97221     		NONE PUBLIC GENERAL SUPPORT 1,000
    SALVATION ARMY
    2505 BROADWAY
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 15,000
    SAN DIEGO STATE UNIVERSITY
    5500 CAMPANILLE DRIVE
    SAN DIEGO,CA92182     		NONE COLLEGE SCHOLARSHIPS 900
    SEATTLE UNIVERSITY
    901 12TH AVE
    SEATTLE,WA98122     		NONE UNIVERSITY SCHOLARSHIPS 2,050
    SECOND WARD LDS CHURCH
    2625 HUGHES LANE
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,000
    SHRINER'S HOSPITAL FOOD CARAVAN
    ATTN RANDALL GUYER
    2790 MAIN STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 200
    SHRINERS HOSPITAL FOR CHILDREN
    ATTN RANDELL GUYER CPA
    2790 MAIN STREET
    BAKER CITY,OR97814     		NONE PUBLIC FOOTBALL COVER 900
    SPECIAL OLYMPICS OREGON
    BAKER COUNTY
    PO BOX 508
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 3,500
    SOUTHERN OREGON UNIVERSITY
    1250 SISKIYOU BLVD
    ASHLAND,OR97520     		NONE UNIVERSITY SCHOLARSHIPS 8,650
    ST ELIZABETH HEALTH CARE FOUNDATION
    3235 POCAHONTAS ROAD
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 55,000
    ST FRANCIS CATHOLIC CHURCH
    2235 FIRST STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,000
    ST STEPHENS EPISCOPAL CHURCH
    2177 FIRST STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,000
    SUMPTER VALLEY RAILROAD RESTORATION
    PO BOX 389
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 10,000
    FRIENDS OF SUMPTER VALLEY DREDGE
    PO BOX 291
    SUMPTER,OR97877     		NONE PUBLIC GENERAL SUPPORT 6,000
    SOUTHWEST ACUPUNCTURE COLLEGE
    7801 ACADEMY NE
    ALBURQURQUE,NM87109     		NONE COLLEGE SCHOLARSHIPS 1,800
    TEXAS TECH UNIVERSITY
    PO BOX 45011
    LUBBOCK,TX79409     		NONE UNIVERSITY SCHOLARSHIP 2,400
    THINK LINK DISCOVERY MUSEUM
    2609 NORTH SECOND ST
    LAGRANDE,OR97824     		NONE PUBLIC GENERAL SUPPORT 1,500
    TREASURE VALLEY COMMUNITY COLLEGE
    650 COLLEGE BLVD
    ONTARIO,OR97914     		NONE COLLEGE SCHOLARSHIPS 15,150
    TREVECCA NAZARENE UNIVERSITY
    333 MURFREESBORO RD
    NASHVILLE,TN37210     		NONE COLLEGE SCHOLARSHIPS 2,400
    UNITED METHODIST CHURCH
    1919 SECOND STREET
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,000
    UNITED COMMUNITY PARTNERS INC
    PINE EAGLE PARENTS ORGANIZATION
    PO BOX 708
    HALFWAY,OR97834     		NONE PUBLIC GENERAL SUPPORT 5,000
    UNIVERSITY OF UTAH
    201 S 1460 E RM 165
    SALT LAKE CITY,UT84112     		NONE COLLEGE SCHOLARSHIPS 2,400
    UNIVERSITY OF CHICAGO
    5801 SOUTH ELLIS AVENUE
    CHICAGO,IL60637     		NONE UNIVERSITY SCHOLARSHIP 2,050
    UNIVERSITY OF IDAHO
    PO BOX 444291
    MOSCOW,ID83844     		NONE UNIVERSITY SCHOLARSHIPS 14,000
    UNIVERSITY OF OREGON
    119 OREGON HALL
    EUGENE,OR97403     		NONE UNIVERSITY SCHOLARSHIPS 31,467
    UNIVERSITY OF PORTLAND
    5000 N WILLAMETTE BLVD
    PORTLAND,OR97203     		NONE UNIVERSITY SCHOLARSHIPS 7,550
    UNIVERSITY OF PHOENIX
    FINANCIAL AID OFFICE
    3080 GENTRY WAY 150
    MERIDIAN,ID83642     		NONE UNIVERSITY SCHOLARSHIPS 3,850
    UNIVERSITY OF WYOMING
    DEPT 3335 1000 E UNIVERSITY AVE
    LARAMIE,WY82071     		NONE UNIVERSITY SCHOLARSHIPS 1,200
    UNIVERSITY OF CALIFORNIA - OAKLAND
    OFFICE OF GENERAL COUNSEL
    1111 FRANKLIN ST 8TH FLOOR
    OAKLAND,CA94607     		NONE COLLEGE SCHOLARSHIPS 2,400
    UNIVERSITY OF MICHIGAN LAW SHOOL
    310 HUTCHINS HALL
    ANN ARBOR,MI48109     		NONE COLLEGE SCHOLARSHIPS 2,050
    UNIVERSITY OF WESTERN STATES
    2900 NE 132ND AVE
    PORTLAND,OR97230     		NONE COLLEGE SCHOLARSHIPS 1,800
    UNIVERSITY OF CALIFORNIA -SANTA BAR
    1210 CHEADLE HALL
    SANTA BARBARA,CA93106     		NONE COLLEGE SCHOLARSHIPS 2,700
    UNIVERSITY OF WASHINGTON
    PO BOX 355850
    SEATTLE,WA98195     		NONE COLLEGE SCHOLARSHIPS 2,400
    UNIVERSITY OF COLORADO COLO SPRNG
    1420 AUSTIN BLUFF PKWY
    COLORADO SPRINGS,CO80918     		NONE COLLEGE SCHOLARSHIPS 2,250
    UNIV OF N CAROLINA AT CHAPEL HILL
    111 PETTIGREW HALL CB2300
    CHAPEL HILL,NC27599     		NONE COLLEGE SCHOLARSHIPS 2,700
    UTAH STATE UNIVERSITY
    FINANCIAL AID OFFICE
    106 TAGGART STUENT CENTER
    LOGAN,UT84322     		NONE UNIVERSITY SCHOLARSHIPS 2,400
    UTAH VALLEY UNIVERSITY
    FINANCIAL AID OFFICE
    800 W UNIVERSITY PKWY
    OREM,UT84058     		NONE COLLEGE SCHOLARSHIPS 2,050
    VOLTA
    6162 NE 80TH AVE
    PORTLAND,OR97218     		NONE COLLEGE SCHOLARSHIPS 3,600
    WALLA WALLA COMMUNITY COLLEGE
    500 TAUSICK WAY
    WALLA WALLA,WA99362     		NONE COLLEGE SCHOLARSHIPS 15,298
    WASHINGTON STATE UNIVERSITY
    PO BOX 641068
    PULLMAN,WA99164     		NONE UNIVERSITY SCHOLARSHIPS 8,900
    WESTERN OREGON UNIVERSITY
    345 N MONMOUTH AVE
    MONMOUTH,OR97361     		NONE UNIVERSITY SCHOLARSHIPS 9,500
    WESTERN RAILWAY SOCIETY
    12259 HUCKLEBERRY LOOP RD
    BAKER CITY,OR97814     		NONE PUBLIC GENERAL SUPPORT 1,800
    WHITMAN COLLEGE
    515 BOYER AVE
    WALLA WALLA,WA99362     		NONE COLLEGE SCHOLARSHIPS 2,400
    WILLAMETTE UNIVERSITY
    900 STATE STREET
    SALEM,OR97301     		NONE UNIVERSITY SCHOLARSHIPS 4,450
    Total .................................bullet 3a 934,784
    bApproved for future payment
    Total ..................................bullet 3b  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments          
    4 Dividends and interest from securities....     14 654,040  
    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 1,982,398  
    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)..   2,636,438  
    13Total. Add line 12, columns (b), (d), and (e)...................
    132,636,438
    (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:
    LEO ADLER COMMUNITY FUND 97331640
    EIN: 93-6289087
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 4,000     4,000

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    LEO ADLER COMMUNITY FUND 97331640
    EIN: 93-6289087
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AMERICAN CENTURY INTL BD FDS 166,414 172,830
    FIRST AM CORE BOND    
    FIRST AM INTERMED TERM BOND    
    FIRST AM HIGH INCOME BOND    
    FIRST AM SHORT TERM BOND    
    FIRST AM TOTAL RETURN BOND    
    ISHARES BARCLAYS TIPS BOND 554,189 569,243
    NUVEENE CORE BOND 1,488 1,508
    NUVEENE HIGH INCOME BOND 1,174,219 1,254,178
    NUVEENE TOTAL RETURN BOND 1,299,437 1,321,081
    NUVEENE SHORT TERM BOND 661,901 662,294
    ISHARES JP MORGAN EM BOND 124,248 125,499
    T ROWE PRICE INTL BOND 287,809 288,087

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    LEO ADLER COMMUNITY FUND 97331640
    EIN: 93-6289087
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ADC TELECOMMUNICATIONS    
    ALLERGAN INC 2,766 4,079
    AMEDISYS INC    
    AMERICAN TOWER CORP 32,589 43,539
    AMPHENOL CORP 4,835 10,850
    APACHE CORP 8,815 11,722
    APPLE INC 24,070 77,204
    ATLANTIC TELE-NETWORK INC 2,321 2,685
    BANK OF AMERICA CORP 71,312 46,580
    BEST BUY COMPANY INC 6,444 6,565
    CAMERON INTL CORP 44,012 45,864
    CENTRAL EUROPEAN DISTRIBUTION 6,005 3,438
    CISCO SYS INC 28,734 18,186
    CLIFFS NATURAL RESOURCES INC 20,885 34,669
    COMTECH TELECOMMUNICATIONS    
    CRANE CO 2,643 9,487
    EXXON MOBIL CORP 2,288 2,604
    FOSSIL INC    
    FREEPORT-MCMORAN COPPER & GOLD 5,531 12,379
    GARDNER DENVER INC 6,546 14,457
    GOLDMAN SACHS GROUP INC 21,715 20,762
    HEWLETT PACKARD CO 22,959 17,108
    ICU MED 5,180 8,390
    ILLINOIS TOOL WKS INC    
    INTEL CORP 16,357 24,044
    INTERNATIONAL BUSINESS MACHINE    
    INTUIT INC 4,795 10,994
    J P MORGAN CHASE & CO 104,636 107,959
    MARINER ENERGY INC    
    MEDCO HEALTH SOLUTIONS INC    
    MICROS SYS INC 5,023 14,913
    MICROSOFT CORP    
    MIDDLEBY CORP    
    MWI VETERINARY SUPPLY INC    
    NET 1 UEPS TECHNOLOGIES INC 4,940 3,238
    OCEANEERING INTL INC    
    ORACLE CORPORATION 24,056 39,525
    PFIZER INC 79,028 104,112
    QUALCOMM INC 21,841 28,509
    RED ROBIN GOURMET BURGERS    
    SILGAN HLDGS INC 5,091 8,276
    SYSCO CORP    
    TARGET CORPORATION    
    UNITED TECHNOLOGIES CORP 27,218 46,822
    VECTREN CORPORATION 5,031 5,293
    WMS INDS INC    
    ABB LTD A D R REPSTG ONE REG 5,125 11,833
    ACCENTURE LTD 4,818 10,090
    AGRIUM INC 9,545 17,200
    ANGLO AMERICAN PLC A D R 2,881 4,026
    ATLAS COPCO AB A D R    
    BANCO SANTANDER CENT HISPANO 9,476 15,423
    BARCLAYS BANK PLC 115,000 130,836
    BRITISH AMERN TOB PLC 18,228 31,944
    DBS GROUP HLDGS LTD 9,500 16,611
    FOMENTO ECONOMICO MEXICANO S A 5,100 11,303
    HONDA MTR CO LTD 25,678 38,301
    ROCHE HLDG LTD 11,898 10,742
    RRWE AG ADR 4,642 3,719
    SCHLUMBERGER LTD 30,662 33,696
    STATOIL ASA    
    TELEFONICA SA SPON A D R 5,085 6,318
    TOTAL S A A D R    
    BLACKROCK INC    
    CREDIT SUISSE COMM RET ST CO 697,377 767,920
    EATON VANCE LARGE CAP VALUE I    
    FAM INFLATION PRO SEC CL Y    
    FAM MID CAPITAL INDEX    
    FAM REAL ESTATE SECURITIES    
    ISHARES MSCI EMERGING MKTS IND 489,218 587,003
    KEPPEL CORP LTD SPONS A D R 5,650 8,127
    KONINKLIJKE (ROYAL) KPN NV SP 23,309 19,998
    MITSUBISHI UFJ FINL GRP A D R 24,595 12,853
    NESTLE S A SPONSORED ADR REPST 50,758 64,251
    NOKIA CORP SPDS ADR 16,181 3,550
    NOVARTIS A G A D R 32,963 39,110
    PETROLEO BRASILEIRO SA PETROBR 63,794 50,745
    TURKCELL ILETISIM HIZMET A D R    
    AFLAC    
    B E AEROSPACE INC    
    B M C SOFTWARE INC 22,550 34,406
    BRANDYWINE REALTY TRUST 4,917 11,196
    CAPELLA EDUCATION CO    
    CUBIST PHARMACEUTICALS INC    
    EMERSON ELEC CO    
    FLUSHING FINANCIAL CORPORATION 4,917 8,723
    FUJIFILM HLDGS CORP ADR 2 ORD 15,592 23,579
    HOME DEPOT    
    MEDNAX INC 5,985 6,281
    S P X 4,967 9,589
    SYNIVERSE HLDGS INC    
    AEGON N V NY REG SHR 5,469 8,473
    ASTRAZENECA P L C SPSD A D R    
    CENTRAL EUROPEAN MEDIA ENT A 5,234 5,649
    DESARROLLADORA HOMEX A D R 7,836 8,578
    FOSTERS GROUP LIMITED A D R 21,983 32,682
    MITSUI & CO LTD SPSD ADR 5,202 8,725
    SANOFI AVENTIS A D R 17,980 22,174
    TAKEDA PHARMACEUTICAL SP ADR    
    TEVA PHARMACEUTICAL INDS LTD 5,093 5,401
    TOKIO MARINE HOLDINGS A D R    
    UNILEVER PLC SPSD ADR 14,471 25,394
    VALE SA SP A D R 5,519 15,841
    AMERICAN CENTY VISTA FUND INST 533 825
    AMERICAN EUROPACIFIC GRTH F2 789,138 873,805
    AMERICAN GRW FD OF AMER F2 1,242,268 1,503,540
    NEUBERGER BERMAN GENESIS INSTL 630 934
    PIMCO TOTAL RETURN FUND 1,893,388 1,923,009
    PIONEER FUND CL Y 11,926 14,844
    ROWE T PRICE MID-CAP GROWTH FD 483,501 597,860
    ROWE T PRICE MID-CAP VALUE FD 401,855 570,991
    T ROWE PRICE INTL GR&INC FD 701,504 844,892
    T ROWE PRICE SMALL CAP VALUE 196 262
    TEMPLETON INSTL FDS INC 195,004 314,976
    ALPHA NATURAL RESOURCES INC 5,228 12,314
    AMERICAN EXPRESS CO    
    BIOMED REALTY TRUST INC 4,942 10,043
    DREAMWORKS ANIMATION SKG INC 5,058 4,945
    HARMONIC INC 1,671 1,395
    INTREPID POTASH INC 4,944 8,287
    J2 GLOBAL COMMUNICATIONS INC 2,832 3,388
    KBR INC    
    TELE COMMUNICATIONS SYSTEMS 5,144 3,038
    TITAN MACHY INC    
    TRUE RELIGION APPAREL INC    
    WET SEAL INC CL A 4,782 5,762
    GLAXO SMITHKLINE P L C A D R 4,986 6,392
    HONGKONG ELEC HLDGS LTD    
    NIPPON TELEGRAPH TELE A D R 8,816 8,004
    ANALOG DEVICES INC 37,368 52,291
    BERKSHIRE HATHAWAY INC 37,380 41,636
    BRISTOL MYERS SQUIBB CO 78,018 91,253
    COMERICA INC    
    DISNEY WALT CO 69,210 84,834
    DIRECTV CL A 37,070 51,430
    DOLLAR TREE INC 57,552 120,582
    DR PEPPER SNAPPLE GROUP 37,556 43,314
    EXPRESS SCRIPTS INC 14,844 20,243
    GAP INC    
    GENERAL MILLS INC    
    GT SOLAR INTERNATIONAL INC 5,100 11,891
    HASBRO INC    
    HESS CORP 70,181 102,870
    OCCIDENTAL PETROLEUM CORP 33,981 45,778
    P G E CORP 105,065 110,455
    REGIONS FINL CORP    
    WILLIAMS COS INC    
    WERNER ENTERPRISES INC    
    ACE LTD 75,290 95,768
    CANON INC SPONS A D R 68,930 82,188
    LUKOIL SPON A D R 6,594 8,033
    AMERICAN CENTURY SMALL CAP GR 192 285
    ISHARES BARCLAYS AGGREGATE    
    MIDCAP SPDR TRUST SERIES IETF 578,070 754,340
    SCOUT INTERNATIONAL FUND 1,109,374 1,412,451
    SPDR GOLD TRUST 88,788 138,993
    SPDR S&P 500 ETF TRUST 2,085,522 2,272,655
    POWER ASSETS HOLDINGS A D R 10,816 14,314
    TREASURY WINE ESTATES LTS 6,462 6,994
    ZURICH FINANCIAL SVCS ADR 36,237 42,749
    ABERDEEN FDS EMRG MKT 384,880 381,728
    AMERICAN CENT EQUITY INCOME 1,089,449 1,082,194
    AMERICAN CENTY SMALL CP GROWTH 244,761 289,927
    DODGE & COX STOCK FUND 582,984 588,761
    FRANKLIN MUTUAL SHARES FUND 1,744 1,771
    IPATH DOW JONES UBSCOMMODITY 377,039 337,222
    LAUDUS INTL MARKETMASTERS 907,693 899,242
    NUVEENE REAL ESTATE 699,090 908,675
    NUVEENE INFATION PRO SEC 175,314 183,251
    SPDR DJ WILSHIRE INTERNATL 368,387 380,097
    T ROWE PRICE SC STOCK 203,804 201,272
    VANGUARD EXPLORER FUND 147,583 147,325

    TY 2010 OtherDecreasesSchedule
    Name:
    LEO ADLER COMMUNITY FUND 97331640
    EIN: 93-6289087
    Description Amount
    REC'D VS REPT SECURITIES 12,800
    WASH SALES 3,629


    TY 2010 OtherExpensesSchedule
    Name:
    LEO ADLER COMMUNITY FUND 97331640
    EIN: 93-6289087
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEE 1,010 0   1,010
    ADR FEES 689 0   689
    NET EXPOSURE 455 0   455
    COMMITTEE MTG EXPENSES 2,081 0   2,081
    PRINTING 532 0   532
    REIMBURSE LODGING 641 0   641
    PROFESSIONAL SERVICES 46,000 0   46,000


    TY 2010 OtherIncreasesSchedule
    Name:
    LEO ADLER COMMUNITY FUND 97331640
    EIN: 93-6289087
    Description Amount
    PY ADJUSTMENT 10,727
    RETURNED SCHOLARSHIPS 10,359
    ROUNDING 15


    TY 2010 TaxesSchedule
    Name:
    LEO ADLER COMMUNITY FUND 97331640
    EIN: 93-6289087
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 3,130 3,130   0
    FEDERAL ESTIMATES - PRINCIPAL 20,498 0   0
    FOREIGN TAXES ON QUALIFIED FOR 6,839 6,839   0
    FOREIGN TAXES ON NONQUALIFIED 728 728   0