TY 2010 Form 990PF

- TIN:

Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation

Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.

OMB No. 1545-0052

2010

For calendar year 2010, or tax year beginning 01-01-2010 , and ending 12-31-2010

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

Amended returnAddress changeName change

Name of foundation
BALL BROTHERS FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 1408 Room/suite

City or town, state, and ZIP code
MUNCIE, IN47308

A Employer identification number

35-0882856

B Telephone number (see page 10 of the instructions)

(765) 741-5500

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

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

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

$139,219,271J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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

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

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	11,000,300
2	Check
3	Interest on savings and temporary cash investments	2,749		2,749	2,749
4	Dividends and interest from securities......	2,578,998		2,578,998	2,578,998
5a	Gross rents..............	30,284		30,284	30,284
b	Net rental income or (loss) 20,876
6a	Net gain or (loss) from sale of assets not on line 10		2,645,276
b	Gross sales price for all assets on line 6a 31,003,570
7	Capital gain net income (from Part IV, line 2)...			2,645,276
8	Net short-term capital gain.........				360,494
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).......		638,809	120,421	120,421
12	Total. Add lines 1 through 11........	16,896,416		5,377,728	3,092,946
13	Compensation of officers, directors, trustees, etc.	212,156		66,154	66,154	146,002
14	Other employee salaries and wages......	172,886				172,886
15	Pension plans, employee benefits.......	109,010		22,842	22,842	86,168
16a	Legal fees (attach schedule).........		4,583	4,583	4,583
b	Accounting fees (attach schedule).......		138,020	138,020	138,020
c	Other professional fees (attach schedule)....		330,057	326,457	326,457	3,600
17	Interest...............
18	Taxes (attach schedule) (see page 14 of the instructions)		79,642	25,142	25,142
19	Depreciation (attach schedule) and depletion...		27,369	27,369	27,369
20	Occupancy..............	84,881		21,220	21,220	63,661
21	Travel, conferences, and meetings.......	18,725				18,725
22	Printing and publications..........
23	Other expenses (attach schedule).......		234,378	225,283	225,283	9,095
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	1,411,707		857,070	857,070	500,137
25	Contributions, gifts, grants paid........	4,698,049				4,698,049
26	Total expenses and disbursements. Add lines 24 and 25	6,109,756		857,070	857,070	5,198,186
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	10,786,660
b	Net investment income (if negative, enter -0-)			4,520,658
c	Adjusted net income (if negative, enter -0-)...				2,235,876

For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.

Cat. No. 11289X Form 990-PF (2010)

Form 990-PF (2010)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	3,742,066	4,408,554	4,408,554
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see page 15 of the
		instructions)....................
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	11,227,313	10,747,325	10,878,845
	b	Investments—corporate stock (attach schedule)........	64,101,231	71,199,108	96,962,287
	c	Investments—corporate bonds (attach schedule)........	17,224,775	19,895,109	20,618,783
	11	Investments—land, buildings, and equipment: basis 283,022
		Less: accumulated depreciation (attach schedule) 144,194	96,053	138,828	390,000
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	5,038,510	5,792,368	5,935,866
	14	Land, buildings, and equipment: basis 179,186
		Less: accumulated depreciation (attach schedule) 154,250	36,855	24,936	24,936
	15	Other assets (describe )		1
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	101,466,803	112,206,229	139,219,271
	17	Accounts payable and accrued expenses..........	53,689	6,455
	18	Grants payable...................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........	53,689	6,455
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	27,017,646	38,017,946
	29	Retained earnings, accumulated income, endowment, or other funds	74,395,468	74,181,828
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................	101,413,114	112,199,774
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	101,466,803	112,206,229

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	101,413,114
2	Enter amount from Part I, line 27a......................	2	10,786,660
3	Other increases not included in line 2 (itemize)	3
4	Add lines 1, 2, and 3..........................	4	112,199,774
5	Decreases not included in line 2 (itemize)	5
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30..	6	112,199,774

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	Branzan	P	2009-01-01	2010-12-31
b	House R/E	P	2009-01-01	2010-12-31
c	Tiff PRIVATE EQ PTNR 2009 K-1	P	2009-01-01	2010-12-31
d	Tiff PRIVATE EQ PTNR 2008 K-1	P	2009-01-01	2010-12-31
e	Tiff PRIVATE EQ PTNR 2007 K-1	P	2009-01-01	2010-12-31
	Tiff PRIVATE EQ PTNR 2006 K-1	P	2009-01-01	2010-12-31
	Tiff PRIVATE EQ PTNR 2005 K-1	P	2009-01-01	2010-12-31
	Tiff IV PRIVATE EQ PTNR K-1	P	2009-01-01	2010-12-31
	847,548.87 Federal Farm Credit Bk-2@ - 8-25-15	P	2010-08-19	2010-12-29
	41,691.07 Driehaus Emerging Mkts Growth - STG	P	2010-12-22	2010-12-22
	1,308 Cedar Fair LP	P	2010-07-16	2010-12-21
	197,590.98 Gov't Nat. Mtg. Assoc. Pool 3.5% 7-20-40	P	2010-07-22	2010-12-20
	1,407,129.81 FHLB - 2.9% 4-20-17	P	2010-06-25	2010-12-20
	3,330 Cedar Fair LP	P	2009-12-31	2010-12-20
	1,719 Cedar Fair LP	P	2009-12-31	2010-12-17
	1,085 Cedar Fair LP	P	2010-08-03	2010-12-16
	337 Lululemon Athletica Inc.	P	2010-09-10	2010-12-13
	2,329 Ultratech Inc.	P	2010-06-07	2010-12-08
	1,089 Ultratech Inc.	P	2010-06-07	2010-12-07
	2,161 Invt. Technology Group Inc.	P	2009-12-31	2010-12-03
	2,165 Invt. Technology Group Inc.	P	2009-12-31	2010-12-02
	553 Intesa Sanpaolo SP ADR	P	2010-01-13	2010-12-02
	830 Ultratech Inc.	P	2009-12-31	2010-12-01
	2,138 Invt. Technology Group Inc.	P	2009-12-31	2010-12-01
	1,343 Intesa Sanpaolo SP ADR	P	2010-08-25	2010-12-01
	4,728 Invt. Technology Group Inc.	P	2009-12-31	2010-11-30
	847,994.46 Federal Farm Credit Bank - 2@ - 8-15	P	2010-08-19	2010-11-26
	7,483.00 LTX Credence	P	2009-12-31	2010-11-24
	781 LTX Credence	P	2010-10-28	2010-11-23
	198302.48 Gov't Nat Mtg. Assoc. Pool 3.5% 7-40	P	2010-07-22	2010-11-22
	1457926.57 FHLB - 2.9% 4-17	P	2010-06-25	2010-11-22
	15,351 LTX Credence	P	2009-12-31	2010-11-18
	3,349 Kelly Services Inc.	P	2009-12-31	2010-11-10
	817 Logitech Intl. SA	P	2010-04-29	2010-11-09
	279 Kelly Services Inc.	P	2009-11-09	2010-11-05
	4,424 Navigant Consulting Inc.	P	2009-12-31	2010-11-04
	1,169 Navigant Consulting Inc.	P	2010-05-04	2010-11-03
	500,000 FNMA - 2% - 5-20	P	2010-05-12	2010-11-03
	3,783 Navigant Consulting Inc.	P	2009-12-31	2010-11-02
	1,193 MF Global Holdings Ltd.	P	2010-06-03	2010-11-02
	959 Asbury Automotive Group	P	2009-12-31	2010-11-01
	953 T-3Energy Systems	P	2010-08-31	2010-10-29
	3,302 Beneficial Mutual Bancorp Inc.	P	2009-12-31	2010-10-28
	999 Beneficial Mutual Bancorp Inc.	P	2010-04-16	2010-10-27
	4,872 Zoran Corporation	P	2009-12-31	2010-10-26
	848,165.92 Fed. Farm Creek Bank - 2%- 8-25-15	P	2010-08-19	2010-10-26
	1,017 Ultratech Inc.	P	2009-12-31	2010-10-22
	2,038 Beneficial Mutual Bancorp Inc.	P	2009-12-31	2010-10-22
	2,057 Ultratech Inc.	P	2009-12-31	2010-10-21
	480 T-3 Energy Services Inc.	P	2010-08-31	2010-10-20
	198,936.17 Gov't Nat Mtg. Assoc Pool-3.5% 7/20/40	P	2010-07-22	2010-10-20
	1,508,002.69 FHLB - 2.9% 4/20/17	P	2010-06-25	2010-10-20
	482 T-3 Energy Services Inc.	P	2010-08-31	2010-10-15
	8,600 Beckton Dickinson & Co.	P	2010-06-17	2010-10-15
	507 T-3 Energy Services Inc.	P	2010-08-31	2010-10-14
	456 T-3 Energy Services Inc.	P	2010-08-31	2010-10-13
	489 Logitech Intl. SA	P	2010-04-29	2010-10-13
	471 Logitech Intl. SA	P	2010-04-29	2010-10-12
	152 Healthspring Inc.	P	2010-04-07	2010-10-11
	1,068 T-3 Energy Services Inc.	P	2009-12-31	2010-10-08
	1,792 T-3 Energy Services Inc.	P	2009-12-31	2010-10-07
	1,444 T-3 Energy Services Inc.	P	2009-12-31	2010-10-06
	850,000 Federal Farm Creek Bank 2% 8/25/15	P	2010-08-19	2010-09-30
	468 China Life Insurance Company	P	2010-05-07	2010-09-30
	4,019 EnergySolutions Inc.	P	2010-03-03	2010-09-27
	100 Walmart Stores Inc.	P	2010-03-12	2010-09-24
	100 Select Sector SPDR Consumer	P	2010-03-12	2010-09-24
	100 Praxair Inc.	P	2009-12-17	2010-09-24
	125 Noble Energy	P	2010-03-12	2010-09-24
	400 Microsoft Corporation	P	2009-12-17	2010-09-24
	100 Medco Health Solutions Inc.	P	2009-12-30	2010-09-24
	7,100 McDonalds Corp.	P	2010-03-12	2010-09-24
	100 International Business Machines Corp.	P	2010-03-12	2010-09-24
	100 Franklin Res Inc.	P	2010-03-12	2010-09-24
	1,229 EnergySolutions Inc.	P	2009-12-31	2010-09-24
	225 Danaher Corporation	P	2010-03-12	2010-09-24
	5,200 Cisco Systems Inc.	P	2010-06-17	2010-09-24
	50 Apple Inc.	P	2010-03-12	2010-09-24
	1,815 Lincoln Edl Svcs	P	2009-12-31	2010-09-23
	4,257 EnergySolutions Inc.	P	2009-12-31	2010-09-23
	6,413 Energy Solutions Inc.	P	2009-12-31	2010-09-22
	410 Lincoln Edl Svcs	P	2009-10-30	2010-09-21
	1,124 Lincoln Edl Svcs	P	2009-12-31	2010-09-20
	199,621.15 Govt Nat Mtg. Assoc. Pool - 3.5% 7/20/40	P	2010-07-22	2010-09-20
	1,549,906.54 FHLB - 2.9% 4/20/17	P	2010-06-25	2010-09-20
	1,634 Lincoln Edl Svcs	P	2009-10-28	2010-09-17
	533 Healthspring Inc.	P	2010-04-07	2010-09-14
	745 Lincoln Edl Svcs	P	2009-10-28	2010-09-13
	1,630 Lincoln Edl Svcs	P	2009-12-31	2010-09-10
	775 Lincoln Edl SVCS	P	2010-04-29	2010-09-09
	935 Newpark Resources	P	2009-10-05	2010-09-08
	215 Lincoln Edl Svcs	P	2010-04-29	2010-09-08
	2,515 Newpark Resources	P	2009-12-31	2010-08-31
	1,014 Healthspring Inc.	P	2009-12-31	2010-08-31
	164 Potash Corporation	P	2009-10-07	2010-08-25
	168 Potash Corporation	P	2009-10-07	2010-08-24
	200,000 Gov't Nat. Mtg. Assoc Pool - 3.5% 7/20/40	P	2010-07-22	2010-08-20
	1,594,957.11 FHLB - 2.9% - 4/20/17	P	2010-06-25	2010-08-20
	400,000 FNMA - 3% - 8/17/15	P	2010-01-27	2010-08-17
	3,540 Aaron's Inc.	P	2009-12-31	2010-08-13
	1,611,728.19 FHLB - 2.9% - 4/20/17	P	2010-06-25	2010-08-12
	1,554 Convergys Corporation	P	2009-10-30	2010-08-11
	19 Beneficial Mutual Bancorp Inc.	P	2010-04-14	2010-08-11
	114 Beneficial Mutual Bancorp Inc.	P	2010-04-14	2010-08-10
	2,387 Beneficial Mutual Bancorp Inc.	P	2010-04-14	2010-08-09
	100 Walmart Stores Inc.	P	2010-03-12	2010-08-06
	200 Visa Inc.	P	2010-03-12	2010-08-06
	200 Select Sector SPDR Consumer	P	2010-06-17	2010-08-06
	300 Praxair Inc.	P	2009-12-17	2010-08-06
	1,500 Northern Trust Corporation	P	2010-06-17	2010-08-06
	300 Noble Energy	P	2010-03-12	2010-08-06
	800 Microsoft Corporation	P	2009-12-17	2010-08-06
	300 Medco Health Solutions Inc.	P	2009-12-30	2010-08-06
	300 McDonalds Corp.	P	2010-06-17	2010-08-06
	100 Intl Business Machine	P	2010-06-17	2010-08-06
	100 Franklin Res Inc.	P	2010-03-12	2010-08-06
	800 EMC Corporation	P	2010-06-17	2010-08-06
	500 Danaher Corporation	P	2010-06-17	2010-08-06
	1,200 Covance Inc.	P	2010-06-17	2010-08-06
	100 Apple Inc.	P	2010-06-17	2010-08-06
	686 Carrizo Oil & Gas	P	2009-11-20	2010-08-05
	650 Team Inc.	P	2009-10-30	2010-07-27
	354 Team Inc.	P	2009-12-31	2010-07-26
	1,637 Newpark Resources	P	2010-06-09	2010-07-26
	1,067 Team Inc.	P	2010-03-19	2010-07-23
	1,119 Team Inc.	P	2009-12-31	2010-07-22
	1,069 Team Inc.	P	2009-10-23	2010-07-21
	600,000 FNMA Step CPN - 4% - 7-21-10	P	2009-11-06	2010-07-21
	677 Team Inc.	P	2009-10-23	2010-07-20
	1,464 Team Inc.	P	2009-10-23	2010-07-19
	500,000 FNMA Step CPN - 4% - 7-15-24-Called	P	2009-09-10	2010-07-15
	2,192 Navigant Consulting Inc.	P	2009-12-31	2010-07-14
	1,023 Team Inc.	P	2009-12-31	2010-07-07
	500,000 U.S. Treasury N/B - 1% - 3-31-12	P	2010-05-28	2010-07-06
	476 Treehouse Foods	P	2009-12-31	2010-07-06
	2,702 Newpark Resources	P	2009-12-31	2010-07-06
	1,051 Team Inc.	P	2009-12-31	2010-06-30
	750,000 FHLM - 4.05% 9-17	P	2009-09-18	2010-06-25
	674 Team Inc.	P	2010-01-25	2010-06-16
	835 Team Inc.	P	2009-12-31	2010-06-15
	1,312 South Jersey Inds. Inc.	P	2009-12-31	2010-06-07
	10,639 Sun Healthcare Group	P	2009-12-31	2010-06-03
	3,939 Darling International	P	2009-12-31	2010-05-27
	3,473 Sun Healthcare Group	P	2009-07-02	2010-05-26
	500,000 FHLB Step CPN - 3.15% - 8-22	P	2010-02-23	2010-05-26
	4,491 Darling International	P	2009-12-31	2010-05-26
	5,990 Sun Healthcare Group	P	2009-12-31	2010-05-25
	1,488 LaFarge SA SP ADR	P	2010-03-05	2010-05-20
	5,048 Turkiye Garanti Bankasi	P	2010-03-16	2010-05-19
	492 Toyota Motor Corporation	P	2009-12-02	2010-05-19
	1,037 Teva Pharmaceutical	P	2008-08-01	2010-05-19
	1,703 Tesco PLC SPONs ADR	P	2009-10-21	2010-05-19
	660 Tencent Holdings Ltd.	P	2010-04-23	2010-05-19
	267 Telefonica De Expana SP ADR	P	2009-06-23	2010-05-19
	580 Southern Copper Corporation	P	2009-07-17	2010-05-19
	193 Potash Corporation	P	2009-10-07	2010-05-19
	772 Novartis AG SP ADR	P	2009-06-12	2010-05-19
	210 New Oriental ED & Tech Group	P	2009-12-02	2010-05-19
	6,232 Mitsubishi UFJ Finl GRP	P	2009-12-30	2010-05-19
	6,044 Man Group PLC	P	2010-05-12	2010-05-19
	976 Logitech Intl. SA	P	2009-07-23	2010-05-19
	1,236 LaFarge SA SP ADR	P	2010-03-05	2010-05-19
	1,042 Itau Unibanco Holding SA SP ADR	P	2009-05-26	2010-05-19
	630 Intesa Sanpaolo SP ADR	P	2009-08-12	2010-05-19
	2,174 Flsmidth & Co.	P	2009-08-25	2010-05-19
	149 Cnooc Ltd. SP Adr	P	2009-10-05	2010-05-19
	505 China Merchants Holdings Intl.	P	2009-10-12	2010-05-19
	1,086 Carnival Corporation	P	2010-01-13	2010-05-19
	418 Canadian Natural Resources	P	2009-09-01	2010-05-19
	317 BG Group PLC SP ADR	P	2009-07-13	2010-05-19
	11,000 Barclays Bk. IPATH	P	2009-12-01	2010-05-19
	701 Darling International, Inc.	P	2009-12-31	2010-05-10
	3,101 New Park Resources	P	2009-11-10	2010-05-04
	1,850 New Park Resources	P	2009-12-31	2010-05-03
	1,300 Johnson & Johnson	P	2010-03-12	2010-04-30
	2,849 New Park Resources	P	2009-09-30	2010-04-29
	559 Darling International, Inc.	P	2009-06-12	2010-04-29
	1,007 Intesa Sanpaolo SP ADR	P	2009-08-12	2010-04-27
	1,319 Intesa Sanpaolo SP ADR	P	2009-08-24	2010-04-26
	2,364 Darling International	P	2009-06-12	2010-04-26
	3,000 Driehaus Emerging Mkts.	P	2009-12-17	2010-04-23
	1,165 Aaron's Inc.	P	2009-07-22	2010-04-23
	1,942 CapitalSource Inc.	P	2009-12-31	2010-04-14
	1,210 United Natural Foods Inc.	P	2009-06-12	2010-04-13
	202 United Natural Foods Inc.	P	2009-06-12	2010-04-09
	1,714 Nu Skin Enterprises	P	2009-12-31	2010-04-06
	5,638 Newpark Resources	P	2009-09-30	2010-04-06
	4,698 Newpark Resources	P	2009-12-31	2010-04-05
	3,655 New Park Resources	P	2009-09-30	2010-04-05
	497 Nu Skin enterprise Inc.	P	2009-12-31	2010-04-01
	2,228 Solutia Inc.	P	2009-06-17	2010-03-26
	1,278 Intesa Sanpaolo SP ADR	P	2009-08-24	2010-03-25
	1,253 Hexcel Corporation	P	2009-06-12	2010-03-16
	150 Eagle Bancorp Inc.	P	2009-09-16	2010-03-16
	1,471 Hexcel Corporation	P	2009-06-12	2010-03-11
	1,786.00 Eagle Bancorp Inc.	P	2009-12-31	2010-03-09
	12,060 SPDR S&P 500	P	2009-12-16	2010-03-08
	1,056 Nu Skin Enterprise	P	2009-12-31	2010-03-08
	870 Hexcel Corporation	P	2009-06-12	2010-03-03
	3,586 CapitalSource Inc.	P	2009-12-31	2010-03-03
	332 Nu Skin Enterprise	P	2009-12-31	2010-03-01
	2,194 Newpark Resources	P	2009-09-30	2010-03-01
	3,540 Newpark Resources	P	2009-09-30	2010-02-25
	1,000,000.00 FNMA STEP CPN	P	2009-05-21	2010-02-22
	48 National Bank of Greece	P	2009-12-17	2010-02-11
	994 Allete Inc.	P	2009-12-31	2010-02-09
	20,375 Deutsche Boerse AG UNSP ADR	P	2009-10-20	2010-02-04
	81 Toyota Motor Corporation	P	2009-11-19	2010-02-03
	3,801 Deutsche Boerse AG UNSP ADR	P	2009-04-22	2010-02-03
	987 Allete Inc.	P	2009-06-12	2010-02-02
	3,599 National Bank of Greece	P	2009-12-17	2010-02-01
	2,322 National Bank of Greece	P	2009-12-17	2010-01-29
	31 Allete Inc.	P	2009-06-12	2010-01-28
	8,009 Chimera Invt. Corp.	P	2009-04-16	2010-01-22
	24 Wal Mart De Mexico	P	2009-01-28	2010-01-14
	275 Wal Mart De Mexico	P	2009-01-28	2010-01-13
	7,878 Chimera Invt. Corp.	P	2009-12-31	2010-01-13
	8,273 Chimera Invt. Corp.	P	2009-04-16	2010-01-08
	7,597 Chimera Invt. Corp.	P	2009-12-31	2010-01-07
	8,017 Chimera Invt. Corp.	P	2009-12-31	2010-01-06
	1,085 Nu Skin Enterprise	P	2009-08-17	2010-01-05
	5,618 Flsmidth & Co.	P	2009-08-24	2010-01-05
	1,683 Smithfield Foods Inc.	P	2009-01-01	2010-12-29
	523,226.05 FNMA Pool - 5% - 6-1-28	P	2008-05-13	2010-12-27
	334,438.95 FNMA Pool - 5% - 1-1-23	P	2008-03-18	2010-12-27
	499,237.23 FNMA Pool - 3.5% 10-1-40	P	2008-03-18	2010-12-27
	1,814 Smithfield Foods Inc.	P	2009-01-01	2010-12-23
	41,691.07 Driehaus Emerging Mkts. - LTG	P	2009-01-01	2010-12-22
	5,000 Ball Corporation	P	1982-04-29	2010-12-21
	1,271,872.57 FHLM Pool - 5.5% - 5-1-27	P	2007-05-24	2010-12-15
	21,259.74 FHLM - 5.5% - 10-15-31	P	2004-05-21	2010-12-15
	457,344.34 FHLM - 5% - 5-15-28	P	2004-11-05	2010-12-15
	1,789 Smithfield Foods Inc.	P	2009-04-14	2010-12-10
	2,536 Intesa Sanpaolo SP ADR	P	2009-08-28	2010-12-02
	642 Bally Technologies	P	2009-06-12	2010-12-02
	1,818 Intesa Sanpaolo SP ADR	P	2009-08-12	2010-12-01
	550976.49 FNMA Pool - 5% - 6-28	P	2008-05-13	2010-11-26
	362,452.43 FNMA Pool - 5% - 1-23	P	2008-03-18	2010-11-26
	5,000 Ball Corporation	P	1982-04-29	2010-11-24
	4,038 Roche Holdings Ltd.	P	2008-08-01	2010-11-22
	857 Solutia Inc.	P	2009-05-21	2010-11-19
	165 Solutia Inc.	P	2009-05-21	2010-11-17
	310 SM Energy Co.	P	2009-06-12	2010-11-17
	3,729 FlsMidth & Co.	P	2009-08-25	2010-11-17
	172 SM Energy Co.	P	2009-06-12	2010-11-15
	1,320,074.42 FHLM Pool - 5.5% 5-27	P	2007-05-24	2010-11-15
	24,840 FHLM 5.5% 10-31	P	2004-05-21	2010-11-15
	487971.7 FHLM - 5% 5-28	P	2004-11-05	2010-11-15
	1,198 Solutia Inc.	P	2009-05-21	2010-11-11
	639 Kelly Services Inc.	P	2009-11-09	2010-11-10
	429 Logitech Intl. SA	P	2008-08-01	2010-11-09
	781 Komatsu Ltd. SP ADR	P	2009-05-11	2010-11-09
	2,191 Mastec Inc.	P	2009-01-01	2010-11-05
	674 Kelly Services Inc.	P	2009-02-25	2010-11-05
	1,119 Southern Copper Corporation	P	2009-07-20	2010-11-04
	61 Kelly Services Inc.	P	2009-02-25	2010-11-04
	602 Kelly Services Inc.	P	2009-02-25	2010-11-03
	3,645 Navigant Consulting Inc.	P	2009-01-01	2010-11-02
	801 Mastec Inc.	P	2009-06-12	2010-11-02
	990 Analogic Corporation	P	2008-11-20	2010-11-02
	346 Solutia Inc.	P	2009-01-01	2010-11-01
	401 Analogic Corporation	P	2009-01-01	2010-11-01
	500,000 HSBC Fin Corp - 6.375% - 10-11	P	2006-10-10	2010-10-29
	291 Healthspring Inc.	P	2009-10-13	2010-10-29
	2,414 Navigant Consulting Inc.	P	2009-10-21	2010-10-28
	15,502 Zoran Corporation	P	2009-01-01	2010-10-26
	373 Kelly Services Inc.	P	2009-01-01	2010-10-26
	272 Kelly Services Inc.	P	2009-01-01	2010-10-25
	582,392.58 FNMA Pool - 5% - 6-1-28	P	2008-05-13	2010-10-25
	364,561.92 FNMA Pool - 5% - 1/1/23	P	2008-03-18	2010-10-25
	885 LVMH Moet Hennessy	P	2009-03-31	2010-10-22
	92 Kelly Services Inc.	P	2009-08-14	2010-10-22
	1,336 Analogic Corporation	P	2009-01-01	2010-10-21
	266 Novo Nordisk A/S SP ADR	P	2008-08-01	2010-10-20
	828 Kelly Services Inc.	P	2009-01-01	2010-10-19
	1,000,000 HSBC Financial Corp. 6.375% 10/15/11	P	2006-10-10	2010-10-19
	1,000,000 FHLB - 3% - 7/7/16	P	2009-07-07	2010-10-19
	5,000 Ball Corporation	P	1982-04-29	2010-10-18
	226 Analogic Corporation	P	2009-01-01	2010-10-18
	634 Healthspring Inc.	P	2009-10-13	2010-10-15
	1,367,342.43 FHLM Pool - 5.5%-5/1/27	P	2007-05-24	2010-10-15
	518,762.24 FHLM 5% - 5/15/28	P	2004-11-05	2010-10-15
	27,691.69 FHLM - 5.5% - 10/15/31	P	2004-05-21	2010-10-15
	7,800 Beckton Dickinson & Co.	P	2009-02-10	2010-10-15
	281 Analogic Corporation	P	2008-02-27	2010-10-15
	15 Healthspring Inc.	P	2009-10-13	2010-10-14
	314 Infosystem Technologies	P	2009-02-04	2010-10-13
	787 Logitech Intl. SA	P	2009-07-23	2010-10-12
	1,201 Kelly Services Inc.	P	2009-06-12	2010-10-05
	554 Analogic Corporation	P	2008-02-27	2010-10-01
	2,207 China Life Insurance Company	P	2008-11-12	2010-09-30
	270 China Life Insurance Company	P	2008-11-12	2010-09-30
	252 Analogic Corporation	P	2008-02-27	2010-09-30
	609,828.77 FNMA Pool - 5% 6/1/28	P	2008-05-13	2010-09-27
	366,566.40 FNMA Pool - 5% 1/1/23	P	2008-03-18	2010-09-27
	8 Analogic Corporation	P	2008-02-27	2010-09-27
	225 Walgreen Co.	P	2004-07-21	2010-09-24
	150 Thermo Fisher Scientific Inc.	P	2008-02-13	2010-09-24
	100 Target Corporation	P	2007-02-07	2010-09-24
	7,500 Stericycle Inc.	P	2008-11-19	2010-09-24
	200 Schlumberger Ltd.	P	2009-09-17	2010-09-24
	300 Quanta SVCS Inc.	P	2009-07-22	2010-09-24
	150 Procter & Gamble Co.	P	2008-11-19	2010-09-24
	150 Pepsico Inc.	P	2006-03-29	2010-09-24
	250 Metlife Inc.	P	2007-08-07	2010-09-24
	100 Hewlett Packard Co.	P	2007-08-07	2010-09-24
	100 Harris Corporation	P	2007-08-07	2010-09-24
	75 Goldman Sachs	P	2005-07-06	2010-09-24
	200 Exxon Mobil Corporation	P	2009-02-10	2010-09-24
	100 Emerson Electric co.	P	2007-02-07	2010-09-24
	500 EMC Corporation	P	2009-09-17	2010-09-24
	11,200 Ecolab Inc.	P	2008-01-24	2010-09-24
	100 Deere & Co.	P	2007-02-07	2010-09-24
	100 Costco Wholesale Corp.	P	2007-08-07	2010-09-24
	48,900 Cisco Systems Inc.	P	2009-02-10	2010-09-24
	200 Church & Dwight Inc.	P	2008-11-19	2010-09-24
	100 Beckton Dickinson & Co.	P	2009-02-10	2010-09-24
	716 Energy Solutions Inc.	P	2008-11-20	2010-09-22
	282 Analogic Corporation	P	2008-02-27	2010-09-22
	11,902 EnergySolutions Inc.	P	2009-01-01	2010-09-21
	2,006 CSL LTD UNSP ADR	P	2009-01-30	2010-09-20
	1,793 CSL LTD UNSP ADR	P	2009-01-22	2010-09-17
	2,556 CSL LTD UNSP ADR	P	2009-03-13	2010-09-16
	1,418,063.33 FHLM Pool - 5.5% 5/1/27	P	2007-05-24	2010-09-15
	30,325.29 FHLM - 5.5% - 10/15/31	P	2004-05-21	2010-09-15
	549,716.81 FHLM - 5% 5/15/28	P	2004-11-05	2010-09-15
	964 Smithfield Foods Inc.	P	2009-01-01	2010-09-13
	954 Kelly Services Inc.	P	2009-06-12	2010-09-13
	2,067 Hang Lung Properties Ltd.	P	2008-08-01	2010-09-13
	1,203 LVMH Moet Hennessy	P	2008-11-12	2010-09-10
	80 Kelly Services Inc.	P	2009-06-12	2010-09-10
	122 Kelly Services Inc.	P	2009-06-12	2010-09-09
	848 Smithfield Foods Inc.	P	2009-06-12	2010-09-08
	18 Kelly Services Inc.	P	2009-06-12	2010-09-08
	564 Albany Intl Corp.	P	2009-06-12	2010-09-08
	338 China Life Insurance Company	P	2008-11-12	2010-09-07
	933 Monster Worldwide	P	2009-02-06	2010-09-01
	500,000 Johnson Controls - 5.25% 1-11	P	2006-11-02	2010-08-31
	633,190.96 FNMA Pool - 5% 6/1/28	P	2008-05-13	2010-08-25
	380,860 FNMA Pool - 5% 1/1/23	P	2008-03-18	2010-08-25
	3,262 Monster Worldwide	P	2009-01-01	2010-08-17
	580,836.27 FHLM Service - 5% - 5/15/28	P	2004-11-05	2010-08-16
	1,457,852.55 FHLM Pool - 5.5% - 5/1/27	P	2007-05-24	2010-08-16
	32,522.3 FHLM - 5.5% 10/15/31	P	2004-05-21	2010-08-16
	503 Monster Worldwide	P	2008-11-17	2010-08-13
	1,966 Aaron's Inc.	P	2009-01-01	2010-08-13
	1,979 Monster Worldwide	P	2009-01-01	2010-08-12
	2,094 Energy Solutions Inc.	P	2009-06-12	2010-08-12
	928 Aaron's Inc.	P	2009-07-22	2010-08-12
	2,604 Aaron's Inc.	P	2009-07-22	2010-08-11
	2,293 Monster Worldwide	P	2009-01-01	2010-08-09
	400 Walgreen Co.	P	2004-07-21	2010-08-06
	400 Thermo Fisher Scientific Inc.	P	2008-02-13	2010-08-06
	300 Target Corporation	P	2007-02-07	2010-08-06
	300 Stericycle Inc.	P	2008-11-19	2010-08-06
	400 Schlumberger Ltd.	P	2009-07-22	2010-08-06
	500 Quanta SVCS Inc.	P	2009-07-22	2010-08-06
	250 Procter & Gamble Co.	P	2008-11-19	2010-08-06
	250 Pepsico Inc.	P	2006-03-29	2010-08-06
	14,300 Northern Trust Corporation	P	2009-05-15	2010-08-06
	958 Monster Worldwide	P	2009-01-01	2010-08-06
	400 JP Morgan Chase & Co.	P	2007-02-07	2010-08-06
	400 Hewlett Packard Co.	P	2007-08-07	2010-08-06
	300 Harris Corporation	P	2007-08-07	2010-08-06
	350 Exxon Mobil Corporation	P	2009-02-10	2010-08-06
	300 Emerson Electric co.	P	2007-02-07	2010-08-06
	350 Ecolab Inc.	P	2008-01-24	2010-08-06
	200 Deere & Co.	P	2007-02-07	2010-08-06
	11,300 Covance Inc.	P	2009-02-10	2010-08-06
	200 Costco Wholesale Corp.	P	2007-08-07	2010-08-06
	600 Cisco Systems Inc.	P	2006-09-22	2010-08-06
	300 Church & Dwight Inc.	P	2008-11-19	2010-08-06
	200 Beckton Dickinson & Co.	P	2009-02-10	2010-08-06
	763 Carrizo Oil & Gas	P	2009-03-12	2010-08-05
	1,665 Carrizo Oil & Gas	P	2009-01-01	2010-08-04
	961 Solutia Inc.	P	2009-01-01	2010-08-02
	1,782 Arm Holdings PLC SP	P	2008-08-01	2010-08-02
	719 Albany Intl Corp.	P	2009-06-12	2010-08-02
	7,135 CapitalSource Inc.	P	2009-01-01	2010-07-30
	397,353 FNMA Pool - 5% - 1-1-23	P	2008-03-18	2010-07-26
	656,093.18 FNMA - 5% - 6-1-28	P	2008-05-13	2010-07-26
	5,441 CapitalSource Inc.	P	2009-07-15	2010-07-22
	1,498,322.2 FHLM Pool - 5.5% - 5-1-27	P	2007-05-24	2010-07-15
	34,203.38 FHLM - 5.5% 10-15-31	P	2004-05-21	2010-07-15
	612,121.46 FHLM - 5% - 5-15-28	P	2004-11-05	2010-07-15
	1,621 Arm Holdings PLC SP	P	2008-08-01	2010-07-14
	1,338 Turkcelliletisim Hizmetleri	P	2008-08-01	2010-07-13
	1,650 Arm Holdings PLC SP	P	2008-08-01	2010-07-13
	765 Turkcelliletisim Hizmetleri	P	2008-08-01	2010-07-12
	399 Turkcelliletisim Hizmetleri	P	2008-08-01	2010-07-09
	1,006 Turkcelliletisim Hizmetleri	P	2008-08-01	2010-07-08
	2,984 Verbund AG SP ADR	P	2008-08-01	2010-07-07
	1,012 Turkcelliletisim Hizmetleri	P	2008-08-01	2010-07-07
	611 SM Energy Co.	P	2009-06-12	2010-07-07
	896 Turkcelliletisim Hizmetleri	P	2008-08-01	2010-07-06
	453 Turkcelliletisim Hizmetleri	P	2008-08-01	2010-07-02
	2,153 Verbund AG SP ADR	P	2008-08-01	2010-07-01
	826 Verbund AG SP ADR	P	2008-08-01	2010-07-01
	751 Turkcelliletisim Hizmetleri	P	2008-08-01	2010-07-01
	3,388 Verbund AG SP ADR	P	2009-03-16	2010-06-30
	421 Turkcelliletisim Hizmetleri	P	2008-08-01	2010-06-30
	222 Novo Nordisk A/S SP ADR	P	2008-08-01	2010-06-30
	595 British Sky Broadcasting Group	P	2009-05-06	2010-06-30
	726 Turkcell Iletisim Hizmetleri	P	2008-08-01	2010-06-29
	3,005 Insituform Technologies Inc.	P	2009-01-01	2010-06-25
	676,376.21 FNMA Pool 5% 6-28	P	2008-05-13	2010-06-25
	399,249.37 FNMA Pool 5% 1-23	P	2008-03-18	2010-06-25
	1,027 British Sky Broadcasting Group	P	2009-05-08	2010-06-16
	676 Insituform Technologies Inc.	P	2009-06-12	2010-06-15
	1,542,795.87 FHLM Pool 5.5% 5-27	P	2007-05-24	2010-06-15
	35,658.42 FHLM 5.5% 5-28	P	2004-05-21	2010-06-15
	643,573.24 FHLM 5% 5-28	P	2004-11-05	2010-06-15
	732 Insituform Technologies Inc.	P	2008-11-20	2010-06-10
	3,012 Carrizo Oil & Gas	P	2009-01-01	2010-06-10
	1,817 Arm Holdings PLC SP	P	2008-08-01	2010-06-10
	788 Instuform Technologies, Inc.	P	2008-11-20	2010-06-09
	2,281 Energy Solutions Inc.	P	2009-01-01	2010-06-09
	677 Carrizo Oil & Gas	P	2009-01-01	2010-06-09
	405 SM Energy Co.	P	2009-06-12	2010-06-08
	544 Insituform Technologies Inc.	P	2009-01-01	2010-06-08
	794 South Jersey Inds. Inc.	P	2009-01-01	2010-06-07
	718 Darling International	P	2009-05-13	2010-05-26
	268 South Jersey Inds.	P	2009-05-20	2010-05-25
	401,856.44 FNMA Pool 5 - 1-23	P	2008-03-18	2010-05-25
	694,494.49 FNMA Pool - 5% -	P	2008-05-13	2010-05-25
	1,523 Darling International	P	2009-05-13	2010-05-25
	1,409 Solutia Inc.	P	2009-01-01	2010-05-21
	1,113 Insituform Technologies Inc.	P	2009-01-01	2010-05-21
	1,465 Energy Solutions Inc.	P	2009-01-01	2010-05-21
	1,128 Wal Mart De Mexico	P	2008-11-18	2010-05-19
	1,307 Vestas Wind Systems	P	2009-04-16	2010-05-19
	2,251 Verbund SP Adr	P	2009-03-13	2010-05-19
	1,112 Turkcell Iletisim Hizmetleri	P	2008-08-01	2010-05-19
	136 Telefonica De Expana SP ADR	P	2008-08-01	2010-05-19
	427 Smith & Nephew PLC	P	2008-10-24	2010-05-19
	539 Schlumberger Ltd.	P	2009-01-28	2010-05-19
	1,084 SAP Aktiengesellschaft	P	2008-10-16	2010-05-19
	707 Sabmiller PLC SP ADR	P	2008-08-01	2010-05-19
	550 Roche Holdings Ltd.	P	2008-08-01	2010-05-19
	3,474 Reckitt Benckiser Group	P	2009-02-23	2010-05-19
	533 Novo Nordisk A/S SP ADR	P	2008-08-01	2010-05-19
	654 Nestle SA SP ADR	P	2008-08-01	2010-05-19
	1,552 LVMH Moet Hennessy	P	2009-01-16	2010-05-19
	1,519 Logitech Intl. SA	P	2008-11-21	2010-05-19
	2,545 Komatsu LTD SP ADR	P	2009-05-11	2010-05-19
	3,286 Kingfisher PLC SP ADR	P	2008-08-01	2010-05-19
	571 Infosystem Technologies	P	2009-02-04	2010-05-19
	518 Industrial & Coml. Bank China	P	2009-04-08	2010-05-19
	2,107 Hong Kong Exchanges	P	2009-03-13	2010-05-19
	2,565 Hennes & Mauritz AB UNSP ADR	P	2008-08-01	2010-05-19
	1,358 Hang Lung Properties Ltd.	P	2008-08-01	2010-05-19
	644 Gazprom OAO SP ADR	P	2008-11-20	2010-05-19
	757 Fresenius Medical Care AG & Co.	P	2009-04-22	2010-05-19
	534 Fanuc Ltd. UNSP ADR	P	2008-12-16	2010-05-19
	902 Embraer Empresa Brasiliera	P	2008-11-20	2010-05-19
	578 Dassault Systems	P	2008-11-20	2010-05-19
	1,238 CSL Ltd Unsp ADR	P	2009-03-13	2010-05-19
	576 Coca Cola Hellenic Bottling	P	2008-08-01	2010-05-19
	612 China Life Insurance Company	P	2008-11-12	2010-05-19
	104 Carnival Corporation	P	2008-08-01	2010-05-19
	521 Canadian Natl RY Co.	P	2008-11-20	2010-05-19
	951 British Sky Broadcasting Group	P	2009-05-08	2010-05-19
	452 BNP Paribas SP ADR	P	2008-10-22	2010-05-19
	2,025 Arm Holdings PLC SP	P	2008-08-01	2010-05-19
	480 America Movil SAB DE CV SP ADR	P	2008-08-01	2010-05-19
	1,610,967.17 FHLM Pool - 5.5% 5-27	P	2007-05-24	2010-05-17
	37,849.52 FHLM - 5.5% 10-31	P	2004-05-21	2010-05-17
	675,192.49 FHLM Service - 5% 5-28	P	2004-11-05	2010-05-15
	500,000 Johnson Controls - 5.25% 1-11	P	2006-11-02	2010-05-14
	698 Silicon Laboratories	P	2009-01-01	2010-05-11
	707 Silicon Laboratories	P	2008-11-20	2010-05-10
	3,353 Darling International, Inc.	P	2009-01-01	2010-05-10
	680 Silicon Laboratories	P	2009-01-01	2010-05-06
	279 Schlumberger Ltd.	P	2008-12-15	2010-04-30
	13,500 Johnson & Johnson	P	2009-02-10	2010-04-30
	652 Silicon Laboratories	P	2009-01-01	2010-04-29
	3,192 Darling International, Inc.	P	2009-04-27	2010-04-29
	267 Fanuc Ltd. Unsp Adr	P	2008-12-16	2010-04-28
	2,177 Darling International, Inc.	P	2009-04-27	2010-04-28
	680 Silicon Laboratories	P	2009-01-01	2010-04-27
	1,017 Monster Worldwide	P	2008-10-31	2010-04-27
	1,060 Kelly Services Inc.	P	2009-01-01	2010-04-27
	447,415.03 FNMA Pool - 5%	P	2008-03-18	2010-04-26
	710,064.57 FNMA Pool - 5%	P	2008-05-13	2010-04-26
	5,000 Ball Corporation	P	1982-04-29	2010-04-23
	244 Affiliated Managers	P	2008-11-18	2010-04-23
	419 Silicon Laboratories	P	2008-11-05	2010-04-22
	8,769 Nokia Corporation	P	2008-08-01	2010-04-22
	378 Walmart De Mexico	P	2008-11-20	2010-04-21
	706,980.07 FHLM Service 5%	P	2004-11-05	2010-04-15
	1,669,203.56 FHLM Pool - 5.5% - 5-27	P	2007-05-24	2010-04-15
	40,167.71 FHLM - 5.5%	P	2004-05-21	2010-04-15
	856 Smithfield Foods Inc.	P	2009-03-20	2010-04-14
	166 Affiliated Managers	P	2009-01-01	2010-04-14
	11,017 National Bank of Greece	P	2008-08-01	2010-04-12
	2,627 Arm Holdings PLC SP	P	2008-08-01	2010-04-12
	960 United Natural Foods Inc.	P	2009-01-01	2010-04-09
	8,546 National Bank of Greece	P	2008-08-01	2010-04-09
	345 Affiliated Managers	P	2009-01-01	2010-04-09
	8,033 National Bank of Greece	P	2008-08-01	2010-04-06
	1,633 Kelly Services Inc.	P	2009-01-01	2010-04-06
	1,106 United Natural foods Inc.	P	2008-08-07	2010-04-05
	983 Insituform Technologies Inc.	P	2009-02-23	2010-03-31
	575 Coca Cola Hellenic Bottling	P	2008-08-01	2010-03-29
	880 Coca Cola Hellenic Bottling	P	2008-08-01	2010-03-26
	1,969 Turkcell Iletisim Hizmetleri	P	2008-08-01	2010-03-25
	726,221.97 FNMA Pool 5%- 6-28	P	2008-05-13	2010-03-25
	478,917.84 FNMA Pool 5% - 1-23	P	2008-03-18	2010-03-25
	925 Coca Cola Hlllenic	P	2008-11-20	2010-03-24
	348 Novo Nordisk A/S SP ADR	P	2008-08-01	2010-03-17
	1,541 Turkcell Iletisim Hizmetleri	P	2008-09-16	2010-03-16
	1,771,877.32 FHLM Pool - 5.5% - 5-27	P	2007-05-24	2010-03-15
	44,729.77 FHLM - 5.5% 10-31	P	2004-05-21	2010-03-15
	738,936.85 FHLM - 5% - 5-28	P	2004-11-05	2010-03-15
	1,200,000 FNMA - 4% - 3-16	P	2009-03-10	2010-03-10
	1,413 United Natural Foods Inc.	P	2009-01-01	2010-03-05
	1,249 Kelly Services Inc.	P	2009-01-01	2010-03-04
	2,074 Hexcel Corporation	P	2008-11-20	2010-03-03
	990 United Natural Foods Inc.	P	2009-01-01	2010-03-01
	744,476.07 FNMA Pool - 5% - 6-28	P	2008-05-13	2010-02-25
	494,140.5 FNMA Pool - 5% - 1-23	P	2008-03-18	2010-02-25
	1,420 Hexcell Corporation	P	2008-11-20	2010-02-24
	1,422.00 Hexcel Corporation	P	2009-01-01	2010-02-23
	1,197 Kelly Services Inc.	P	2009-01-01	2010-02-18
	6,456 Hexcel Corporation	P	2009-01-01	2010-02-18
	1,202 Kelly Services Inc.	P	2008-03-31	2010-02-17
	771,063.72 FHLM Serv. 5% - 5-28	P	2004-11-05	2010-02-16
	1,807,392.25 FHLM Pool 5.5%	P	2007-05-24	2010-02-16
	46,481.92 FHLM 5.5% - 10-31	P	2004-05-21	2010-02-16
	2,441 National Bank of Greece	P	2008-08-01	2010-02-12
	2,936 National Bank of Greece	P	2008-08-01	2010-02-11
	313 Toyota Motor Corporation	P	2008-11-20	2010-02-03
	5,000 Ball Corporation	P	1982-04-29	2010-02-02
	3,082 Arm Holdings PLC SP	P	2008-08-01	2010-02-01
	2,025 Allete Inc.	P	2009-01-01	2010-01-28
	496,770.09 FNMA Pool - 5%	P	2008-03-18	2010-01-25
	764,298.56 FNMA Pool - 5%	P	2008-05-13	2010-01-25
	533 Allete Inc.	P	2008-02-27	2010-01-25
	675 Bally Technologies	P	2009-01-01	2010-01-22
	25 Allete Inc.	P	2008-02-27	2010-01-22
	1,810 Sabmiller PLC SP ADR	P	2008-08-01	2010-01-20
	545 Nestle SA SP ADR	P	2008-08-01	2010-01-19
	1,866,316.29 FHLM Pool 5.5%	P	2007-05-24	2010-01-15
	49,327.68 FHLM - 5.5%	P	2004-05-21	2010-01-15
	803,361.54 FHLM - 5%	P	2004-11-05	2010-01-15
	338 Wal Mart De Mexico	P	2008-11-20	2010-01-14
	3,037 Arm Holdings PLC SP	P	2008-08-01	2010-01-08
	3,167 Arm Holdings PLC SP	P	2008-08-01	2010-01-07

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	757		757
b		74,700	-74,700
c	2,323		2,323
d	29,577		29,577
e	1,000		1,000
	12,250		12,250
	34,839		34,839
	199,882		199,882
	9,835	9,954	-119
	84,537		84,537
	19,093	16,932	2,161
	1,401	1,437	-36
	51,438	52,467	-1,029
	48,672	43,342	5,330
	25,086	23,284	1,802
	15,971	14,827	1,144
	23,990	13,516	10,474
	46,905	33,148	13,757
	21,909	15,499	6,410
	33,657	36,646	-2,989
	33,473	37,331	-3,858
	9,000	15,335	-6,335
	15,948	11,941	4,007
	32,199	37,297	-5,098
	21,497	22,687	-1,190
	69,639	85,712	-16,073
	446	451	-5
	59,682	46,760	12,922
	6,127	4,908	1,219
	712	730	-18
	50,797	51,813	-1,016
	119,957	99,513	20,444
	56,978	34,163	22,815
	17,883	13,663	4,220
	4,484	3,289	1,195
	39,367	52,998	-13,631
	10,302	14,390	-4,088
	500,000	499,250	750
	33,352	49,704	-16,352
	9,425	8,917	508
	13,893	14,569	-676
	31,715	20,812	10,903
	24,500	33,152	-8,652
	7,408	10,030	-2,622
	29,854	43,840	-13,986
	171	174	-3
	18,662	14,860	3,802
	16,181	20,462	-4,281
	36,669	32,404	4,265
	15,605	10,483	5,122
	634	650	-16
	50,076	51,078	-1,002
	15,866	10,526	5,340
	653,896	671,671	-17,775
	16,561	11,072	5,489
	14,584	9,958	4,626
	9,124	8,178	946
	8,746	7,877	869
	4,094	2,680	1,414
	33,717	24,455	9,262
	55,044	44,820	10,224
	45,648	38,037	7,611
	1,834	1,856	-22
	27,789	30,255	-2,466
	20,643	23,104	-2,461
	5,427	5,408	19
	3,355	3,226	129
	8,942	8,098	844
	9,387	9,239	148
	9,848	11,887	-2,039
	5,149	6,483	-1,334
	532,907	457,357	75,550
	13,365	12,815	550
	10,695	10,897	-202
	6,220	7,248	-1,028
	9,252	8,794	458
	114,176	133,768	-19,592
	14,592	11,348	3,244
	23,684	35,197	-11,513
	21,481	25,587	-4,106
	32,899	40,807	-7,908
	5,281	8,358	-3,077
	14,733	24,444	-9,711
	685	703	-18
	41,904	42,742	-838
	20,934	36,319	-15,385
	12,307	9,397	2,910
	9,550	16,559	-7,009
	20,317	39,254	-18,937
	9,052	19,019	-9,967
	8,462	2,889	5,573
	2,508	5,276	-2,768
	22,578	9,420	13,158
	20,877	18,086	2,791
	23,945	14,685	9,260
	25,194	15,043	10,151
	379	389	-10
	32,130	32,773	-643
	400,000	398,600	1,400
	61,117	62,249	-1,132
	29,692	30,285	-593
	15,510	17,156	-1,646
	182	191	-9
	1,132	1,145	-13
	23,751	23,965	-214
	5,128	5,408	-280
	14,278	18,694	-4,416
	6,322	6,520	-198
	26,118	24,293	1,825
	71,766	80,947	-9,181
	20,525	22,174	-1,649
	20,019	23,774	-3,755
	14,019	19,448	-5,429
	21,135	20,578	557
	12,883	13,079	-196
	10,094	10,897	-803
	15,957	15,422	535
	19,428	20,116	-688
	49,448	72,504	-23,056
	25,873	27,214	-1,341
	14,968	14,941	27
	9,408	10,686	-1,278
	5,122	5,901	-779
	13,247	9,151	4,096
	15,847	17,961	-2,114
	15,705	18,884	-3,179
	14,411	18,216	-3,805
	600,300	594,000	6,300
	8,917	11,536	-2,619
	19,164	24,946	-5,782
	500,000	502,530	-2,530
	20,558	31,108	-10,550
	13,360	17,432	-4,072
	503,594	502,266	1,328
	22,138	21,177	961
	18,806	15,173	3,633
	13,936	18,138	-4,202
	754,453	749,250	5,203
	9,813	12,221	-2,408
	12,158	15,726	-3,568
	56,456	44,554	11,902
	97,090	90,949	6,141
	30,983	26,341	4,642
	29,983	30,865	-882
	500,000	500,000
	34,911	31,416	3,495
	49,399	54,983	-5,584
	21,115	27,196	-6,081
	22,766	21,206	1,560
	36,998	38,999	-2,001
	56,786	47,861	8,925
	29,940	33,530	-3,590
	12,652	13,716	-1,064
	15,234	17,491	-2,257
	15,094	13,266	1,828
	18,986	17,282	1,704
	35,089	32,284	2,805
	19,059	14,905	4,154
	30,162	34,297	-4,135
	18,100	20,822	-2,722
	13,715	15,008	-1,293
	17,563	22,312	-4,749
	18,558	14,746	3,812
	9,866	15,503	-5,637
	13,696	11,428	2,268
	23,053	20,076	2,977
	15,220	16,465	-1,245
	39,716	36,700	3,016
	27,173	23,880	3,293
	23,134	25,518	-2,384
	388,409	357,962	30,447
	6,176	5,547	629
	24,528	9,772	14,756
	13,482	5,943	7,539
	84,468	83,321	1,147
	18,579	9,231	9,348
	5,276	4,602	674
	20,631	24,619	-3,988
	28,288	32,175	-3,887
	22,254	19,461	2,793
	92,400	84,660	7,740
	27,587	21,583	6,004
	11,671	8,994	2,677
	34,194	29,601	4,593
	5,759	4,942	817
	49,722	29,482	20,240
	32,192	18,267	13,925
	32,233	27,693	4,540
	19,042	11,842	7,200
	14,567	8,608	5,959
	35,558	12,419	23,139
	28,473	31,167	-2,694
	16,702	13,770	2,932
	1,854	1,316	538
	19,655	16,166	3,489
	22,079	15,690	6,389
	1,378,619	1,350,479	28,140
	31,642	18,570	13,072
	10,512	9,561	951
	20,620	16,973	3,647
	9,283	5,934	3,349
	12,093	7,109	4,984
	18,747	11,470	7,277
	1,000,000	1,000,000
	189	249	-60
	30,575	26,529	4,046
	132,794	156,999	-24,205
	6,193	6,325	-132
	24,590	24,129	461
	31,062	27,925	3,137
	15,630	18,645	-3,015
	10,321	12,029	-1,708
	963	877	86
	32,116	24,427	7,689
	1,153	542	611
	13,297	6,205	7,092
	31,898	24,108	7,790
	33,422	25,562	7,860
	30,387	23,534	6,853
	31,666	26,422	5,244
	30,336	19,411	10,925
	40,995	28,915	12,080
	35,393	15,214	20,179
	33,726	33,515	211
	17,015	17,137	-122
	1,052	1,065	-13
	38,092	18,671	19,421
	46,948		46,948
	344,824	11,438	333,386
	40,906	40,459	447
	3,431	3,465	-34
	30,465	31,170	-705
	35,695	19,738	15,957
	41,271	65,744	-24,473
	26,942	17,334	9,608
	29,100	45,125	-16,025
	27,750	27,577	173
	28,013	28,215	-202
	324,714	11,438	313,276
	146,252	185,046	-38,794
	18,964	4,337	14,627
	3,428	835	2,593
	15,154	6,672	8,482
	27,842	19,653	8,189
	8,464	3,702	4,762
	48,202	47,675	527
	3,580	3,616	-36
	30,627	31,336	-709
	26,314	6,063	20,251
	10,872	7,532	3,340
	9,390	11,203	-1,813
	21,664	11,044	10,620
	32,497	26,048	6,449
	10,833	5,611	5,222
	50,212	26,160	24,052
	979	508	471
	9,405	5,012	4,393
	32,135	48,926	-16,791
	9,947	9,529	418
	45,582	32,952	12,630
	6,314	1,783	4,531
	18,433	13,986	4,447
	524,350	504,176	20,174
	8,631	3,935	4,696
	22,785	32,925	-10,140
	94,990	143,991	-49,001
	5,820	3,153	2,667
	4,260	2,676	1,584
	31,416	31,220	196
	2,109	2,125	-16
	27,753	10,025	17,728
	1,436	1,080	356
	60,861	52,836	8,025
	26,832	17,302	9,530
	12,228	9,844	2,384
	1,050,800	1,009,671	41,129
	1,017,813	1,000,000	17,813
	312,370	11,438	300,932
	10,314	12,018	-1,704
	17,062	8,573	8,489
	47,268	46,751	517
	30,791	31,503	-712
	2,852	2,880	-28
	593,068	539,346	53,722
	12,865	16,969	-4,104
	404	203	201
	22,372	8,514	13,858
	14,613	12,102	2,511
	15,038	14,763	275
	24,955	33,456	-8,501
	131,050	125,454	5,596
	15,942	10,642	5,300
	11,332	15,218	-3,886
	27,436	27,265	171
	2,004	2,019	-15
	360	483	-123
	6,804	8,266	-1,462
	7,215	8,516	-1,301
	5,477	6,283	-806
	519,226	461,003	58,223
	12,026	12,472	-446
	5,625	6,586	-961
	9,241	9,696	-455
	9,913	8,732	1,181
	9,680	15,872	-6,192
	4,149	4,861	-712
	4,497	5,648	-1,151
	11,044	7,789	3,255
	12,364	15,538	-3,174
	5,298	4,487	811
	10,695	8,534	2,161
	566,071	478,711	87,360
	7,238	5,179	2,059
	6,339	6,363	-24
	1,073,694	980,982	92,712
	12,806	11,841	965
	7,389	7,091	298
	3,673	2,557	1,116
	12,706	17,030	-4,324
	62,284	67,016	-4,732
	29,827	23,941	5,886
	26,756	20,265	6,491
	38,194	27,805	10,389
	50,721	50,166	555
	2,634	2,660	-26
	30,955	31,670	-715
	16,553	11,161	5,392
	11,612	11,727	-115
	49,006	33,367	15,639
	30,179	13,569	16,610
	957	983	-26
	1,459	1,500	-41
	14,140	10,167	3,973
	215	221	-6
	10,829	7,546	3,283
	19,919	13,322	6,597
	10,838	8,301	2,537
	507,875	496,230	11,645
	23,362	23,216	146
	14,294	14,396	-102
	38,386	31,251	7,135
	31,119	31,839	-720
	39,789	39,354	435
	2,197	2,219	-22
	5,940	5,387	553
	33,942	35,685	-1,743
	23,345	23,129	216
	10,120	18,134	-8,014
	16,026	17,193	-1,167
	45,642	48,243	-2,601
	30,458	29,582	876
	11,058	14,695	-3,637
	17,964	22,710	-4,746
	15,489	18,850	-3,361
	18,993	18,440	553
	24,868	22,551	2,317
	9,661	10,977	-1,316
	14,792	16,160	-1,368
	16,295	14,553	1,742
	684,170	832,872	-148,702
	12,650	13,051	-401
	15,996	20,463	-4,467
	18,164	19,444	-1,280
	13,875	16,943	-3,068
	21,546	27,192	-5,646
	14,907	13,460	1,447
	17,027	16,624	403
	13,402	10,359	3,043
	465,639	685,105	-219,466
	11,224	12,725	-1,501
	14,177	13,698	479
	18,450	17,761	689
	14,194	14,182	12
	16,649	6,108	10,541
	33,412	25,805	7,607
	14,472	5,088	9,384
	27,652	10,399	17,253
	13,750	9,620	4,130
	38,100	31,589	6,511
	16,493	16,612	-119
	22,902	22,759	143
	27,144	25,198	1,946
	40,470	40,027	443
	1,681	1,698	-17
	31,285	32,009	-724
	23,498	9,460	14,038
	17,628	24,829	-7,201
	22,967	9,629	13,338
	10,015	14,196	-4,181
	5,242	7,404	-2,162
	13,325	18,668	-5,343
	19,203	48,209	-29,006
	13,225	18,780	-5,555
	25,154	13,150	12,004
	11,739	16,627	-4,888
	5,796	8,406	-2,610
	13,209	34,783	-21,574
	5,046	13,345	-8,299
	9,526	13,936	-4,410
	20,714	28,231	-7,517
	5,455	7,812	-2,357
	18,042	14,440	3,602
	24,890	17,554	7,336
	9,528	13,472	-3,944
	66,651	39,896	26,755
	20,283	20,156	127
	1,896	1,910	-14
	42,600	30,137	12,463
	13,927	10,436	3,491
	44,474	43,987	487
	1,455	1,470	-15
	31,452	32,179	-727
	14,611	8,667	5,944
	57,107	34,048	23,059
	22,280	10,603	11,677
	15,413	9,330	6,083
	13,138	26,859	-13,721
	12,091	9,231	2,860
	17,844	8,292	9,552
	10,620	6,731	3,889
	34,166	27,153	7,013
	5,581	4,608	973
	11,476	9,250	2,226
	2,607	2,626	-19
	18,118	18,005	113
	11,462	9,775	1,687
	19,885	7,480	12,405
	23,912	14,607	9,305
	9,493	21,051	-11,558
	24,601	13,972	10,629
	21,265	19,483	1,782
	14,541	14,991	-450
	14,111	20,635	-6,524
	7,760	10,463	-2,703
	19,788	20,226	-438
	33,320	22,983	10,337
	46,657	39,589	7,068
	20,510	14,575	5,935
	19,294	25,204	-5,910
	31,936	27,649	4,287
	40,783	34,668	6,115
	29,887	28,677	1,210
	32,141	17,357	14,784
	21,345	18,101	3,244
	45,860	30,251	15,609
	20,052	16,439	3,613
	32,296	15,483	16,813
	18,150	14,139	4,011
	32,005	16,804	15,201
	28,112	27,620	492
	23,710	21,922	1,788
	12,951	20,875	-7,924
	36,952	29,142	7,810
	28,173	17,535	10,638
	19,546	14,578	4,968
	32,923	22,452	10,471
	16,312	13,427	2,885
	12,649	13,119	-470
	39,228	23,970	15,258
	3,803	3,818	-15
	29,614	23,915	5,699
	31,021	24,946	6,075
	12,819	17,625	-4,806
	20,610	11,817	8,793
	22,732	23,941	-1,209
	68,168	67,423	745
	2,191	2,213	-22
	31,619	32,350	-731
	510,000	496,230	13,770
	33,058	12,515	20,543
	33,099	13,392	19,707
	29,539	19,832	9,707
	31,252	13,157	18,095
	19,998	11,793	8,205
	877,165	818,664	58,501
	32,383	13,911	18,472
	30,129	19,416	10,713
	15,873	8,768	7,105
	20,268	13,242	7,026
	34,648	16,039	18,609
	18,070	14,279	3,791
	19,641	10,967	8,674
	45,559	45,886	-327
	15,570	15,473	97
	274,795	11,438	263,357
	20,681	6,930	13,751
	21,257	11,057	10,200
	111,880	237,956	-126,076
	19,170	9,199	9,971
	31,788	32,523	-735
	58,239	57,602	637
	2,318	2,341	-23
	17,274	7,127	10,147
	13,489	5,339	8,150
	42,165	99,536	-57,371
	28,656	15,330	13,326
	27,369	16,027	11,342
	32,332	77,211	-44,879
	28,004	11,949	16,055
	30,560	72,576	-42,016
	28,267	20,360	7,907
	31,366	18,514	12,852
	26,453	12,947	13,506
	15,597	13,097	2,500
	23,905	20,044	3,861
	28,633	36,539	-7,906
	16,157	16,056	101
	31,503	31,729	-226
	25,298	15,422	9,876
	27,241	22,635	4,606
	23,686	25,936	-2,250
	102,675	101,551	1,124
	4,562	4,608	-46
	31,957	32,696	-739
	1,200,000	1,203,000	-3,000
	40,220	25,197	15,023
	20,152	24,451	-4,299
	25,060	12,386	12,674
	29,316	18,312	11,004
	18,254	18,140	114
	15,223	15,332	-109
	15,662	8,480	7,182
	15,684	9,819	5,865
	19,508	24,855	-5,347
	71,725	97,333	-25,608
	19,129	25,220	-6,091
	32,127	32,870	-743
	35,515	35,126	389
	1,752	1,770	-18
	9,028	22,054	-13,026
	11,588	26,526	-14,938
	23,931	18,827	5,104
	259,219	11,438	247,781
	27,678	17,986	9,692
	62,876	69,501	-6,625
	2,630	2,648	-18
	19,822	19,699	123
	16,427	20,132	-3,705
	30,484	16,306	14,178
	769	944	-175
	51,063	37,314	13,749
	26,042	23,897	2,145
	58,924	58,280	644
	2,846	2,874	-28
	32,298	33,045	-747
	16,244	8,209	8,035
	27,941	17,723	10,218
	29,644	18,482	11,162

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			757
b			-74,700
c			2,323
d			29,577
e			1,000
			12,250
			34,839
			199,882
			-119
			84,537
			2,161
			-36
			-1,029
			5,330
			1,802
			1,144
			10,474
			13,757
			6,410
			-2,989
			-3,858
			-6,335
			4,007
			-5,098
			-1,190
			-16,073
			-5
			12,922
			1,219
			-18
			-1,016
			20,444
			22,815
			4,220
			1,195
			-13,631
			-4,088
			750
			-16,352
			508
			-676
			10,903
			-8,652
			-2,622
			-13,986
			-3
			3,802
			-4,281
			4,265
			5,122
			-16
			-1,002
			5,340
			-17,775
			5,489
			4,626
			946
			869
			1,414
			9,262
			10,224
			7,611
			-22
			-2,466
			-2,461
			19
			129
			844
			148
			-2,039
			-1,334
			75,550
			550
			-202
			-1,028
			458
			-19,592
			3,244
			-11,513
			-4,106
			-7,908
			-3,077
			-9,711
			-18
			-838
			-15,385
			2,910
			-7,009
			-18,937
			-9,967
			5,573
			-2,768
			13,158
			2,791
			9,260
			10,151
			-10
			-643
			1,400
			-1,132
			-593
			-1,646
			-9
			-13
			-214
			-280
			-4,416
			-198
			1,825
			-9,181
			-1,649
			-3,755
			-5,429
			557
			-196
			-803
			535
			-688
			-23,056
			-1,341
			27
			-1,278
			-779
			4,096
			-2,114
			-3,179
			-3,805
			6,300
			-2,619
			-5,782
			-2,530
			-10,550
			-4,072
			1,328
			961
			3,633
			-4,202
			5,203
			-2,408
			-3,568
			11,902
			6,141
			4,642
			-882

			3,495
			-5,584
			-6,081
			1,560
			-2,001
			8,925
			-3,590
			-1,064
			-2,257
			1,828
			1,704
			2,805
			4,154
			-4,135
			-2,722
			-1,293
			-4,749
			3,812
			-5,637
			2,268
			2,977
			-1,245
			3,016
			3,293
			-2,384
			30,447
			629
			14,756
			7,539
			1,147
			9,348
			674
			-3,988
			-3,887
			2,793
			7,740
			6,004
			2,677
			4,593
			817
			20,240
			13,925
			4,540
			7,200
			5,959
			23,139
			-2,694
			2,932
			538
			3,489
			6,389
			28,140
			13,072
			951
			3,647
			3,349
			4,984
			7,277

			-60
			4,046
			-24,205
			-132
			461
			3,137
			-3,015
			-1,708
			86
			7,689
			611
			7,092
			7,790
			7,860
			6,853
			5,244
			10,925
			12,080
			20,179
			211
			-122
			-13
			19,421
			46,948
			333,386
			447
			-34
			-705
			15,957
			-24,473
			9,608
			-16,025
			173
			-202
			313,276
			-38,794
			14,627
			2,593
			8,482
			8,189
			4,762
			527
			-36
			-709
			20,251
			3,340
			-1,813
			10,620
			6,449
			5,222
			24,052
			471
			4,393
			-16,791
			418
			12,630
			4,531
			4,447
			20,174
			4,696
			-10,140
			-49,001
			2,667
			1,584
			196
			-16
			17,728
			356
			8,025
			9,530
			2,384
			41,129
			17,813
			300,932
			-1,704
			8,489
			517
			-712
			-28
			53,722
			-4,104
			201
			13,858
			2,511
			275
			-8,501
			5,596
			5,300
			-3,886
			171
			-15
			-123
			-1,462
			-1,301
			-806
			58,223
			-446
			-961
			-455
			1,181
			-6,192
			-712
			-1,151
			3,255
			-3,174
			811
			2,161
			87,360
			2,059
			-24
			92,712
			965
			298
			1,116
			-4,324
			-4,732
			5,886
			6,491
			10,389
			555
			-26
			-715
			5,392
			-115
			15,639
			16,610
			-26
			-41
			3,973
			-6
			3,283
			6,597
			2,537
			11,645
			146
			-102
			7,135
			-720
			435
			-22
			553
			-1,743
			216
			-8,014
			-1,167
			-2,601
			876
			-3,637
			-4,746
			-3,361
			553
			2,317
			-1,316
			-1,368
			1,742
			-148,702
			-401
			-4,467
			-1,280
			-3,068
			-5,646
			1,447
			403
			3,043
			-219,466
			-1,501
			479
			689
			12
			10,541
			7,607
			9,384
			17,253
			4,130
			6,511
			-119
			143
			1,946
			443
			-17
			-724
			14,038
			-7,201
			13,338
			-4,181
			-2,162
			-5,343
			-29,006
			-5,555
			12,004
			-4,888
			-2,610
			-21,574
			-8,299
			-4,410
			-7,517
			-2,357
			3,602
			7,336
			-3,944
			26,755
			127
			-14
			12,463
			3,491
			487
			-15
			-727
			5,944
			23,059
			11,677
			6,083
			-13,721
			2,860
			9,552
			3,889
			7,013
			973
			2,226
			-19
			113
			1,687
			12,405
			9,305
			-11,558
			10,629
			1,782
			-450
			-6,524
			-2,703
			-438
			10,337
			7,068
			5,935
			-5,910
			4,287
			6,115
			1,210
			14,784
			3,244
			15,609
			3,613
			16,813
			4,011
			15,201
			492
			1,788
			-7,924
			7,810
			10,638
			4,968
			10,471
			2,885
			-470
			15,258
			-15
			5,699
			6,075
			-4,806
			8,793
			-1,209
			745
			-22
			-731
			13,770
			20,543
			19,707
			9,707
			18,095
			8,205
			58,501
			18,472
			10,713
			7,105
			7,026
			18,609
			3,791
			8,674
			-327
			97
			263,357
			13,751
			10,200
			-126,076
			9,971
			-735
			637
			-23
			10,147
			8,150
			-57,371
			13,326
			11,342
			-44,879
			16,055
			-42,016
			7,907
			12,852
			13,506
			2,500
			3,861
			-7,906
			101
			-226
			9,876
			4,606
			-2,250
			1,124
			-46
			-739
			-3,000
			15,023
			-4,299
			12,674
			11,004
			114
			-109
			7,182
			5,865
			-5,347
			-25,608
			-6,091
			-743
			389
			-18
			-13,026
			-14,938
			5,104
			247,781
			9,692
			-6,625
			-18
			123
			-3,705
			14,178
			-175
			13,749
			2,145
			644
			-28
			-747
			8,035
			10,218
			11,162

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	2,645,276
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . .		3	360,494

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2009	5,821,104	105,435,750	0.05521
2008	6,727,129	120,701,144	0.05573
2007	6,077,381	133,065,156	0.04567
2006	5,939,950	125,494,292	0.04733
2005	5,896,913	123,806,795	0.04763

2	Total of line 1, column (d) ......................	2	0.25158
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	0.05032
4	Enter the net value of noncharitable-use assets for 2010 from Part X, line 5.....	4	122,393,988
5	Multiply line 4 by line 3.......................	5	6,158,376
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	45,207
7	Add lines 5 and 6.........................	7	6,203,583
8	Enter qualifying distributions from Part XII, line 4..............	8	5,198,186
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions on page 18.

Form 990-PF (2010)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	90,413
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2............................	3	90,413
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-).	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	90,413
6	Credits/Payments:

a	2010 estimated tax payments and 2009 overpayment credited to 2010	6a	97,254
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	97,254
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	6,841
11	Enter the amount of line 10 to be: Credited to 2011 estimated tax6,841	Refunded	11

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....

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

Yes

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

Yes

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

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

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.

Yes

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

instructions) bullet

If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on

page 27)? If “Yes,” complete Part XIV...........................

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

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......

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

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

Yes

Website address bullet

www.ballfdn.org

The books are in care of bullet

BALL ASSOCIATES Telephone no. bullet

(765) 741-5500

Located at bullet

P O BOX 1408MUNCIEIN ZIP+4 bullet

47308

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

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

At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over

a bank, securities, or other financial account in a foreign country? .................

See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet

Form 990-PF (2010)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

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

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

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

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

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check “No”

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2010?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2010, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2010?...............YesNo

If “Yes,” list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........

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

20, 20, 20, 20

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

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

If “Yes,” did it have excess business holdings in 2010 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2010.)....................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2010?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

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

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

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

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...YesNo

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

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

If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?

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

If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

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

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

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

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

If “Yes” to 6b, file Form 8870.

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

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

Form 990-PF (2010)

Page 6

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
MICHAEL J FISHER	President 40.00	146,002	42,181
5750 N CR 700 W MUNCIE,IN47304	President 40.00	146,002	42,181
SCOTT SCHOCKLEY	Director 1.00	0
400 S WALNUT MUNCIE,IN47305	Director 1.00	0
TERRY L WALKER	Secretary 1.00	0
8804 WEST TULIP TREE DRIVE MUNCIE,IN47304	Secretary 1.00	0
STEPHANIE DUCKMAN	Director 1.00	0
749 MEADOW DRIVE DES PLAINES,IL60016	Director 1.00	0
WILLIAM M BRACKEN	DIRECTOR 1.00	0
750 S SECOND STREET 502 MINNEAPOLIS,MN55401	DIRECTOR 1.00	0
DOUGLAS J FOY	TREAS & DIR 10.00	66,154	17,704
PO BOX 1515 MUNCIE,IN47308	TREAS & DIR 10.00	66,154	17,704
JUDITH F OETINGER	Director 1.00	0
PO BOX 431 PROSPECT,KY40059	Director 1.00	0
FRANK E BALL	Chairman 4.00	0
4200 W WHITE RIVER BLVD MUNCIE,IN47304	Chairman 4.00	0
JAMES A FISHER	Vice President 5.00	0
1004 N MEADOW LANE MUNCIE,IN47304	Vice President 5.00	0
NANCY KEILTY	Director 1.00	0
6192 S FRENCH ROAD CEDAR,MI49621	Director 1.00	0

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
RICHARD J SPISAK	PROGRAM OFFICER 40.00	95,487	15,337
5801 W HERON POINTE PARKWAY MUNCIE,IN47304	PROGRAM OFFICER 40.00	95,487	15,337








Total number of other employees paid over $50,000...................

3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

Form 990-PF (2010)

Page 7

Part IX-B

Summary of Program-Related Investments (see page 23 of the instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1


2


All other program-related investments. See page 24 of the instructions.
3

Total. Add lines 1 through 3........................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see page 24 of the instructions.)

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

purposes:

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

123,594,916

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

49,442

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

613,498

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

124,257,856

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

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

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

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

124,257,856

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

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

1,863,868

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

122,393,988

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

6,119,699

Part XI

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

and do not complete this part.)

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

6,119,699

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

90,413

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

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

90,413

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

6,029,286

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

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

6,029,286

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

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

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

6,029,286

Part XII

Qualifying Distributions (see page 25 of the instructions)

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

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

5,198,186

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

5,198,186

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

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

5,198,186

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2010)

Page 8

Part XIII

Undistributed Income (see page 26 of the instructions)

	(a) Corpus	(c) 2009	(d) 2010
1 Distributable amount for 2010 from Part XI, line 7			6,029,286
2 Undistributed income, if any, as of the end of 2010:
a Enter amount for 2009 only.......		4,505,437
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2010:
a From 2005.......
b From 2006.......
c From 2007.......
d From 2008.......
e From 2009.......
fTotal of lines 3a through e.........
4Qualifying distributions for 2010 from Part
XII, line 4: $ 5,198,186
a Applied to 2009, but not more than line 2a		4,505,437
b Applied to undistributed income of prior years (Election required—see page 26 of the instructions)
c Treated as distributions out of corpus (Election required—see page 26 of the instructions)...	0
d Applied to 2010 distributable amount.....			692,749
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2010.
(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
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........
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......
d Subtract line 6c from line 6b. Taxable amount—see page 27 of the instructions ...
e Undistributed income for 2009. Subtract line 4a from line 2a. Taxable amount—see page 27 of the instructions ...........
f Undistributed income for 2010. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2011 ..........			5,336,537
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) ...........
8Excess distributions carryover from 2005 not applied on line 5 or line 7 (see page 27 of the instructions) .............
9Excess distributions carryover to 2011. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2006....
b Excess from 2007....
c Excess from 2008....
d Excess from 2009....
e Excess from 2010....

Form 990-PF (2010)

Page 9

Part XIV

Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2010, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2010	(b) 2009	(c) 2008	(d) 2007	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ....
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets” alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment” alternative test— enter 2⁄3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support” alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see page 27 of the instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

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

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

DONNA MUNCHEL
PO BOX 1408
MUNCIE,IN47308
(765) 741-5500

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

DESCRIPTION OF PROJECT, BUDGET, COPY OF IRS EXEMPTION LETTER

cAny submission deadlines:

APPLICATIONS ACCEPTED ANYTIME

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

INDIANA EDUCATIONAL AND CULTURAL ORGANIZATIONS

Form 990-PF (2010)

Page 10

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
WOMEN IN BUSINESS UNLIMITED PO BOX 1912 MUNCIE,IN47305			CATALYST FOR EMPOWERING WOMEN	1,500
UNION CHAPEL MINISTRIES 4622 N BROADWAY MUNCIE,IN47303			NEIGHBORHOOD MAKEOVER DAY/SUMMER KALEIDOSCOPE PROG	7,500
THOMAS PARK AVONDALE NEIGHBORHOOD 1110 W 10TH STREET MUNCIE,IN47302			RECREATION AND BEAUTIFICATION/BLDG MAINT	5,000
TEAMWORK FOR QUALITY LIVING PO BOX 468 MUNCIE,IN47308			BUILDING SUSTAINABLE COMMUNITIES	2,750
STORER ELEMENTARY SCHOOL 3211 W MANSFIELD DRIVE MUNCIE,IN47304			STAR READING/WEB-BASED ACC READER	2,000
STEP BY STEP ASSISTANCE DOGS INC 346 W WASHINGTON ST DUNKIRK,IN47336			OFFICE SUPPLIES	500
MUNCIE PUBLIC LIBRARY 2005 S HIGH STREET MUNCIE,IN47305			MUNCIE ACTION PLAN - IMPLEMENTATION	5,000
MUNCIE INNOVATION CONNECTOR 1208 W WHITE RIVER BLVD MUNCIE,IN47303			M MAGAZINE CONNECTOR AWARENESS	1,350
MUNCIE DELAWARE CLEAN AND BEAUTIFUL 201 E JACKSON STREET MUNCIE,IN47305			DOWNTOWN CLEANUP & BEAUTIFICATION	25,000
CITY OF MUNCIE 300 N HIGH STREET MUNCIE,IN47305			PRAIRIE CRK BEACH RENOV/MUNCIE LAND BANK	60,000
MERIDIAN SERVICES 240 N TILLOTSON AVE MUNCIE,IN47304			M MAGAZINE A LIST	1,100
MCMILLEN CENTER FOR HEALTH EDUCATION 600 JIM KELLEY BLVD FT WAYNE,IN46816			HEALTH EDUCATION SESSIONS	10,000
INDIANAPOLIS MUSEUM OF ART 4000 MICHIGAN ROAD INDIANAPOLIS,IN46208			BABBLE FORUM	50,000
INDIANA POLICY REVIEW FOUNDATION PO BOX 5166 FT WAYNE,IN46895			DEREGULATING/DEPOLITICIZING DEL CO SCHOOLS	7,500
INDIANA NATURAL RESOURCES FDTN 402 W WASHINGTON ST INDIANAPOLIS,IN46204			2010 HOOSIER OUTDOOR EXPERIENCE	17,500
INDIANA HISTORICAL SOCIETY 450 W OHIO STREET INDIANAPOLIS,IN46202			DESTINATION INDIANA	15,000
INDIANA GRANTMAKERS ALLIANCE 32 E WASHINGTON STREET 1100 INDIANAPOLIS,IN46204			2010 ANNUAL MEMBERSHIP	7,500
FRIENDS OF THE LINCOLN COLLECTION OF IND PO BOX 11083 FT WAYNE,IN46855			LINCOLN COLLECTION AT INDIANA STATE MUSEUM	10,000
COMMUNITY FOUNDATION OF RANDOLPH CO 213 S MAIN STREET WINCHESTER,IN47394			BIOGRAPHY OF JOHN W FISHER	72,500
COMMUNITY ENHANCEMENT PROJECTS INC 650 W MINNESTRISTA BLVD MUNCIE,IN47303			CANAN COMMONS PERFORMANCE CENTER	45,000
ROY C BULEY COMMUNITY CENTER PO BOX 1636 MUNCIE,IN47308			OPERATIONAL SUPPORT	10,000
SPECIAL OLYMPICS 6100 W 96TH STREET STE 270 INDIANAPOLIS,IN46278			2010 NATIONAL GAMES	2,500
SELMA MIDDLE SCHOOL 10501 E CR 167 S SELMA,IN47383			EDUCATE TO ACTIVATE!	10,000
RED TAIL CONSERVANCY PO BOX 8 MUNCIE,IN47308			LIVING LIGHTLY	2,500
PARENTS ENCOURAGING PARENTS 125 E CHARLES ST SUITE 218 MUNCIE,IN47305			PARENT UNIVERSITY	2,000
OPEN DOORBMH HEALTH CENTER 3715 S MADISON ST MUNCIE,IN47302			2010 FELLOWS AWARD/BUILDING FOR A BETTER FUTURE/GOING GREEN ON A NEW LEVEL	90,000
MUNCIE CIVIC THEATRE 216 E MAIN STREET MUNCIE,IN47305			LIFE SAFETY GRANT	5,000
KIDZ KORNER CHILD CARE CENTER 700 N JEFFERSON STREET MUNCIE,IN47305			KIDZ COMPUTERS/DEFENSE OF OUR LAMBS	24,500
ECI THERAPEUTIC RIDING INC 8920 W CR 500 N MUNCIE,IN47304			TECHNOLOGY SUPPORT/INDEPENDENCE THERAPEUTIC SADDLE	5,500
CORNERSTONE CENTER FOR THE ARTS 520 E MAIN STREET MUNCIE,IN47305			ENVIRONMENTAL ASSESSMENT OF PROPERTY/MARKETING PLAN/BUILDING PURCHASE/ENDOWMENT FUND	96,780
BETTER WAY SERVICES INC PO BOX 734 MUNCIE,IN47308			KIDS COUNT CONFERENCE	575
YOUTH OPPORTUNITY CENTER 3700 W KILGORE AVE MUNCIE,IN47304			HEALTH & WELLNESS INITIATIVE	100,000
UNITED DAY CARE CENTER 312 S VINE ST MUNCIE,IN47302			STAFF DEVELOPMENT & DISHWASHER	30,000
RILEY CHILDRENS FOUNDATION 30 S MERIDIAN ST SUITE 200 INDIANAPOLIS,IN46204			JUVENILE DIABETES	100,000
IVY TECH COMMUNITY COLLEGE 4301 S COWAN RD MUNCIE,IN47302			MUNCIE COMPREHENSIVE PLAN/21ST CENTURY SCHOLARS STEP-UP PROGRAM	26,000
INDIANA COUNCIL FOR ECONOMIC EDUCATION 615 W STATE STREET WEST LAFAYETTE,IN47907			ECONOMIC EDUC & FINANCIAL LITERACY	5,000
INDIANA BLACK EXPO-MUNCIE CHAPTER PO BOX 2412 MUNCIE,IN47307			14TH ANNUAL HEALTH, EMP & COMM INFO	2,000
COMMUNITY FOUNDATION OF MUNCIE PO BOX 807 MUNCIE,IN47308			IU FUNDRAISING SCHOOL TO MUNCIE/PROJECT 2020/MUNCIE ACTION PLAN	40,000
COMMUNITY FOUNDATION OF GRANT COUNTY 505 W THIRD STREET MARION,IN46952			PROJECT LEADERSHIP DELAWARE COUNTY	115,000
AMERICAN RED CROSS 325 E WASHINGTON ST MUNCIE,IN47308			HAITI EARTHQUAKE RELIEF	50,000
SECOND HARVEST FOODBANK 6621 N OLD SR 3 MUNCIE,IN47303			FRESH PRODUCE TAILGATE PROG/BACKPACK FOOD PROG	35,000
INDIANA UNIVERSITY FDN - WTIU PO BOX 500 BLOOMINGTON,IN47402			PRESV INDIANA'S ARCHITECTURAL HERITAGE	4,500
HUFFER MEMORIAL CHILDRENS CENTER 2000 N ELGIN STREET MUNCIE,IN47302			SUPPORT - CHILD CARE DIRECTORS	30,000
HABITAT FOR HUMANITY GREATER MUNCIE IN PO BOX 1119 MUNCIE,IN47308			REVITALIZING NEIGHBORHOODS	75,000
BIG BROTHERS & SISTERS OF DELAWARE CO 220 N WALNUT STREET MENTORING CHILDREN OF,IN47305			COMPUTER EQUIPMENT	1,000
YMCA 500 S MULBERRY ST MUNCIE,IN47305			COMPUTERS/BLACK ACHIEVERS PROGRAM	45,000
UNITED WAY OF DELAWARE CO 500 N WALNUT ST MUNCIE,IN47305			COMMUNITY SOLUTIONS	75,000
MUNCIE CHILDRENS MUSEUM PO BOX 544 MUNCIE,IN47308			NOISE! THE SCIENCE OF SOUND	10,000
MUNCIE BOYS & GIRLS CLUB 1710 S MADISON ST MUNCIE,IN47302			LONGEST DRIVE GOLF PROGRAM/2010 FELLOWS AWARD/TRIPLE PLAY "SOUL" COMPONENT	30,000
MINNETRISTA CULTURAL FND 1200 N MINNETRISTA PKWY MUNCIE,IN47303			OPERATING SUPPORT	2,590,494
INDIANA YOUTH INSTITUTE 603 E WASHINGTON ST STE 800 INDIANAPOLIS,IN46204			ORGANIZATIONAL EFFECTIVENESS GRANTS	50,000
IND COLLEGES OF INDIANA FDN 3135 N MERIDIAN STREET INDIANAPOLIS,IN46208			BALL VENTURE FUND	80,000
ENERGIZE ECI PO BOX 1912 MUNCIE,IN47308			CULTURAL TRAIL/OPERATIONAL SUPPORT	122,000
CARDINAL GREENWAY INC 700 E WYSOR STREET MUNCIE,IN47305			OPERATING SUPPORT	90,000
DELAWARE COUNTY SOIL & WATER 3641 N BRIARWOOD LANE MUNCIE,IN47304			JOHN M CRADDOCK WETLAND NAT PRESERVE	150,000
DELAWARE ADVANCEMENT CORP 401 S HIGH STREET MUNCIE,IN47305			VISION 2011	40,000
COLLEGE MENTORS FOR KIDS 1060 N CAPITAL AVE SUITE C430 INDIANAPOLIS,IN46204			MATCHING GRANT	10,000
BALL STATE UNIVERSITY FOUNDATION AD 216 MUNCIE,IN47308			VARIOUS	196,000
Total ................................. 3a				4,698,049

bApproved for future payment

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

Form 990-PF (2010)

Page 11

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3Interest on savings and temporary cash investments			14	2,749
4 Dividends and interest from securities....			14	2,578,998
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....			16	20,876
6Net rental income or (loss) from personal property
7 Other investment income.....
8Gain or (loss) from sales of assets other than inventory			18	2,645,276
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aTIFF PTSHPS UBTI	110000	-3,446
bTIFF PTSHPS K-1 ADJ			14	463,353
cPTSHP K1 ADJ CARDINAL ETH	110000	-38,283	14	95,917
dOIL ROYALITIES			15	111,749
eMISC			14	9,519
12 Subtotal. Add columns (b), (d), and (e)..		-41,729		5,928,437

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

135,886,708

(See worksheet in line 13 instructions on page 28 to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See page 28 of the instructions.)

Form 990-PF (2010)

Page 12

Part XVII

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

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

Yes

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

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If “Yes,” complete the following schedule.

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

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.

	Signature of officer or trustee	Date	Title

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

Form 990-PF (2010)

Additional Data

Software ID:	10000105
Software Version:	2010v3.2

Form 990PF - Special Condition Description:

Special Condition Description

Name of organization BALL BROTHERS FOUNDATION
Schedule B (Form 990, 990-EZ, or 990-PF) (2010) Page 1 of 1 of Part I
Part I	Contributors (see Instructions)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
2	JANICE B FISHER ESTATE PO BOX 1408 MUNCIE, IN 47308	$6,000,000	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
1	JOHN W FISHER ESTATE PO BOX 1408 MUNCIE, IN 47308	$5,000,000	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Name of organization BALL BROTHERS FOUNDATION
Schedule B (Form 990, 990-EZ, or 990-PF) (2010) Page 1 of 1 of Part II
Part II	Noncash Property (see Instructions)
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Name of Bond	End of Year Book Value	End of Year Fair Market Value
IPS IN SBC REV 3.79% 1/15/17	150,000	151,056
GOVT NAT MTG ASSOC POOL 3.5% 7/20/2040	201,248	204,081
FED NAT MTG ASSOC POOL 3.5% 10/1/2040	504,101	484,062
FED NAT MTG ASSOC 5.945% 6-7-2027-2011	468,000	459,162
FED NAT MTG ASSOC 6% 4-18-2036-2016	540,510	540,130
FED NAT MTG ASSOC DISC 0% 6-15-11	998,973	999,280
FED HOME LN MTG 5.4% 03-2021-2016	1,275,925	1,319,280
FPL GROUP CAP INC 2.6% 9-15	499,835	489,630
FPL GROUP CAP INC 2.55% 11-13	299,802	306,708
CITIGROUP INC FLTG RT .4345% 3-14	937,664	960,710
BARCLAYS BK PLC VAR 6% 07-20	845,750	806,650
LOUISVILLE & JEFFERSON CNTY KT 4.65%	1,333,604	1,292,122
745000 DELUTH MN GO TAXABLE 5%	753,195	762,984
100000 UNITED PARCEL SERVICE 4-14	99,778	106,542
489499 FED NAT MTG ASSOC POOL 6-28	486,440	515,120
317424 FEDERAL NTL MTG ASSN 01-23	319,706	340,130
86707 PAR FED HOME LN MTG 10-31	18,007	18,153
1000000 PAR FED HOME LN MTG 05-28	436,751	434,727
1230966 PAR FED HOME LN MTG POOL 5-27	1,217,502	1,314,881
2100000 PAR FED HOME LN MTG 04-23	2,050,125	2,258,567
113000 PAR WYETH 3-13	114,276	123,552
400000 PAR WACHOVIA CORP 2-14	393,444	421,232
1250000 PAR VERIZON 6-12	1,272,256	1,354,700
1000000 PAR MERRILL LYNCH 9-15	991,270	1,031,730
1000000 PAR JOHNSON CONTROLS 1-11
500000 PAR JOHN DEERE CAP CORP 1-13	504,035	539,875
1250000 JP MORGAN CHASE 3-12	1,266,198	1,328,750
1500000 PAR HSBC FINANCIAL CORP 10-11
900000 PAR GOLDMAN SACHS GROUP 1-14	911,064	969,354
500000 PAR FIRST BOSTON 8-13	500,000	547,275
500000 PAR CINCINNATI GAS & ELEC CO 9-12	505,650	538,340

Name of Stock	End of Year Book Value	End of Year Fair Market Value
SNYDERS-LANCE INC	185,060	197,130
ORTHOFIX INTL NV	174,735	180,641
VOLKSWAGEN AG SP ADR PFD	95,932	145,716
TURKIYE GARANTI BANKASI SP ADR	180,159	204,826
TREEHOUSE FOODS INC	179,562	206,863
TENCENT HLDGS LTD UNSP ADR	111,860	120,527
TALBOTS INC	243,526	211,722
TJX CO INC	1,092,784	1,078,677
SYNOVUS FINL CORP	146,552	178,979
SWIFT TRANSPORTATION CO	138,279	157,013
STONERIDGE INC	73,369	106,030
STERLING BANCORP	120,756	160,934
SANDRIDGE ENERGY INC	48,209	71,268
SM ENERGY CO	71,195	230,475
PUBLICIS GROUPE SP ADR	143,832	171,505
PRIVATEBANCORP INC	202,295	230,569
ORION MARINE GROUP INC	207,086	176,958
ORIENTAL FINL GROUP	181,130	196,555
MAN GROUP PLC UNSP ADR	126,760	159,938
MF GLOBAL HLDGS LTD	195,820	226,314
LULULEMON ATHLETICA INC	49,386	80,599
LAFARGE SA SP ADDR	196,510	179,837
LA Z BOY INC	186,448	213,485
KOPIN CORP	145,544	167,997
FEDERAL SIGNAL CORP	164,912	186,510
FSI INTL INC	77,400	95,636
ENTERCOM COMMUNICATIONS CORP	40,384	40,576
EMDEON INC CL A	173,487	185,809
CANON INC SP ADR	163,667	220,095
CDN NAT RES	118,714	175,992
BIOSCRIP INC	191,741	200,288
AVIAT NETWORKS INC	246,530	236,495
ASSA ABLOY AB USP ADR	154,101	158,515
ASBURY AUTOMOTIVE GROUP INC	199,459	273,282
ABBOTT LABS	1,283,130	1,147,444
VISA INC CL A	1,870,091	1,618,740
TESCO PLC SPONS ADR	268,515	272,369
TEAM INC
SUN HLTHCARE GROUP INC
SOUTHN COPPER CORP	65,363	125,603
SOUTH JERSEY INDS INC
SOLUTIA INC	45,136	219,652
SMITHFIELD FOODS INC	64,730	138,015
SELECT SECTOR SPDR CONSUMER DISCRETIONAR	548,580	688,344
SCN NAT RES
QUANTA SVCS INC	984,305	966,120
NU SKIN ENTPRS INC
NORTHERN TRUST CORP
NEWPARK RESOURCES INC	116,428	172,117
NEW ORIENTAL ED & TECH GROUP INC SP	100,185	139,009
NAVIGANT CONSULTING INC
MITSUBISHI UFJ FINL GRP SP ADR	193,946	160,531
MEDCO HEALTH SOLUTIONS INC	1,660,089	1,571,575
LINCOLN EDL SVCS CORP
ITAU UNIBANCO HLDG SA SP ADR	94,127	144,924
INTESA SANPAOLO SP ADR
INFOSYS TECHNOLOGIES LTD SP ADR	47,644	126,293
INDUSTRIAL & COML BK CHINA UNSP ADR	142,366	166,986
HONG KONG EXCHANGES & CLEARING UNSP AD	68,182	185,999
HEALTHSPRING INC	109,934	204,705
HARRIS STRATEX NETWORKS INC CL A
FRESENIUS MEDICAL CARE AG & CO SP ADR	166,339	236,010
FLSMIDTH & CO A/S UNSP	80,820	138,797
EMC CORP	1,298,377	1,722,080
EAGLE BANCORP INC	100,298	161,876
DRIEHAUS EMERGING MKTS GROWTH FD	2,239,319	2,424,555
DEUTSCHE BOERSE AG UNSP ADR
DARLING INTL INC
CSL LTD UNSP ADR
CONVERGYS CORP	169,043	202,726
COMSTOCK RESOURCES INC	266,307	225,633
CNOOC LTD SP ADR	148,301	250,288
CHINA MERCHANTS HLDGS INTL CO	161,922	188,401
CHIMERA INVT CORP
CAPITALSOURCE INC	134,457	236,373
BG GROUP PLC SP ADR	180,735	214,710
BARCLAYS BK IPATH INDL COMMODITY	2,531,144	3,613,349
ATLAS AIR WORLDWIDE HLDGS INC	107,193	165,201
AARON'S INC
ZORAN CORP
WELLS FARGO & CO NEW	1,615,036	1,755,584
WAL MART DE MEXICO SAB DE CV SP ADR	143,450	218,466
VESTAS WIND SYSTEMS A/S UNSP ADR	299,211	106,500
VERBUND SP ADR
UNITED NATURAL FOODS INC
TURKCELL ILETISM HIZMET LERI AS SP ADR
TOYOTA MOTOR CORP SP ADR 2	258,227	240,529
ST MARY LAND & EXPL CO
SPDR TR UNIT SER 1
SMITH & NEWPHEW PLC SP ADR	155,954	149,505
SILICON LABORATORIES INC
SCHLUMBERGER LTD	2,230,950	3,004,247
SAP AKTIENGESELLSCHAFT SP ADR	363,809	346,021
SABMILLER PLC SP ADR	88,482	153,053
ROCHE HLDGE LTD SP ADR
RECKITT BENCKISER GROUP PLC SP ADR	225,568	275,844
POTASH CORP SASK INC	179,095	154,211
NOVO NORDISK A/S SP ADR	165,406	286,266
NESTLE SA SP ADR	182,805	245,221
NATL BK OF GREECE AP ADR
MONSTER WORLDWIDE INC
MASTEC INC	125,301	219,886
LVMH MOET HENNESSY LOUIS BUITTON SP ADR	119,533	310,317
LOGITECH INTL SA	278,239	197,650
KOMATSU LTD SP ADR	208,617	280,629
KINGFISHER PLC SP ADR	153,695	237,105
KELLY SVCS INC CL A
INSITUFORM TECHNOLOGIES INC CL A
HEXCEL CORP
HENNES & MAURITZ AB UNSP ADR	217,696	270,225
HANG LUNG PROPERTIES LTD SP ADR	100,956	147,907
GAZPROM OAO SP ADR	274,436	150,681
ENERGYSOLUTIONS INC
EMBRAER EMPRESA BRASILIERA DE AERONAUTIC	177,126	174,518
DASSAULT SYS SA ADR	115,105	139,190
COCA COLA HELLENIC BOTTLING CO SP ADR	80,949	92,049
CHINA LIFE INS CO SP ADR
CARRIZO OIL & GAS INC
CARNIVAL CORP	277,827	355,600
CANADIAN NATL RY CO	194,609	247,069
BRITISH SKY BROADCASTING GROUP SP ADR	120,277	170,425
BNP PARIBAS ADR	312,275	235,344
BECTON DICKINSON & CO
BALLY TECHNOLOGIES INC	109,249	201,373
ARM HLDGS PLC SP ADR	36,000	128,007
ANALOGIC CORP
AMERICA MOVIL SAB DE CV SP ADR	163,345	187,789
ALLETE INC
ALBANY INTL CORP CL A	87,500	212,120
AFFILIATED MANAGERS GROUP INC	65,216	206,973
TEVA PHARMACEUTICAL INDS LTD SP ADR	1,772,732	1,730,038
TELEFONICA DE ESPANA SP ADR	250,788	231,533
TARGET CORP	1,162,498	1,395,016
NOKIA CORP SP ADR
NOBLE ENERGY INC	1,642,996	1,977,688
METLIFE INC	1,774,442	1,755,380
JPMORGAN CHASE & CO	1,780,966	1,855,875
INTL GAME TECH
INTL BUSINESS MACHINES CORP	1,676,996	1,922,556
HEWLETT PACKARD CO	1,358,772	1,263,000
HARRIS CORP	1,359,722	1,281,990
FRANKLIN RES INC	1,156,440	1,228,870
EMERSON ELEC CO	1,026,113	1,400,665
DEERE & CO	1,005,326	1,694,220
COSTCO WHSL CORP NEW	1,138,996	1,451,421
APPLE INC	1,590,843	2,596,608
WALMART STORES INC	755,384	755,020
WALGREEN CO	1,255,476	1,483,402
THERMO FISHER SCIENTIFIC INC	1,490,873	1,779,824
STERICYCLE	914,432	1,282,582
PROCTOR & GAMBLE CO	1,398,848	1,402,394
PRAXAIR INC	1,680,409	1,976,229
PEPSICO INC	1,276,387	1,496,057
NOVARTIS AG SP ADR	283,477	290,741
50 SH MUNCIE IN INDL PK INC	50,000	50,000
MICROSOFT CORP	2,185,180	2,062,549
MCDONALDS CORP	1,654,211	1,980,408
JOHNSON & JOHNSON
GOLDMAN SACHS	1,403,549	1,652,172
FBR CAP MKTS CORP	229,395	204,741
FANUC LTD UNSP ADR	103,578	210,530
EXXON MOBIL CORP	2,492,563	2,416,616
ECOLAB INC	1,063,063	1,318,483
DANAHER CORP	1,701,268	2,107,320
COVANCE INC
CISCO SYSTEMS INC
CHURCH & DWIGHT INC	1,658,679	1,980,874
BALL CORP	504,572	14,971,000

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
TIFF EQUITY PARTNERS 2010	FMV	29,659	29,659
BRANZAN FUND	FMV	235,264	235,264
TIFF EQUITY PARTNERS 2009	FMV	66,764	66,764
TIFF EQUITY PARTNERS 2008	FMV	411,483	411,483
HOUSE R/E FUND IV	FMV	561,809	561,809
CARDINAL ETHANOL, LLC	FMV	599,670	599,670
TIFF EQUITY PARTNERS 2007	FMV	545,386	545,386
TIFF EQUITY PARTNERS 2006	FMV	651,515	651,515
TIFF EQUITY PARTNERS 2005	FMV	745,051	745,051
TIFF PARTNERS IV	FMV	1,865,767	1,865,767
OIL LEASES	FMV	80,000	223,498

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
SUPPLIES & SUNDRY	18,116	18,116	18,116
PARTNERSHIP EXPENSE	163,234	163,234	163,234
OFFICE RE: CHARITABLE	9,095			9,095
MISC	17,305	17,305	17,305
INSURANCE	2,526	2,526	2,526
DUES	16,857	16,857	16,857
ACTIVITIES & FEES	7,245	7,245	7,245

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
TIFF PTSHPS UBTI	-3,446
TIFF PTSHPS K-1 ADJ	463,353
PTSHP K1 ADJ CARDINAL ETH	57,634
OIL ROYALITIES	111,749	110,902	110,902
MISC	9,519	9,519	9,519

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT FEES	325,257	325,257	325,257	0
CONSULTING FEES	1,200	1,200	1,200	0
APPRAISAL FEES	600	0	0	600
ANNUAL REPORT PREP	3,000	0	0	3,000

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX W/H ON DIVIDENDS	25,142	25,142	25,142
FEDERAL TAX	54,500