Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2010
For calendar year 2010, or tax year beginning 01-01-2010 , and ending 12-31-2010
G
Check all that apply:
Name of foundation
RICHARD H & ANN SHAFER FOUNDATION
C/O DINSMORE & SHOHL LLP

Number and street (or P.O. box number if mail is not delivered to street address)191 W NATIONWIDE BOULEVARDROOM/SUITE 300Room/suite
City or town, state, and ZIP code
COLUMBUS, OH43215
A Employer identification number

31-6029095
B Telephone number (see page 10 of the instructions)

(614) 227-4263
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$14,911,107J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments 95,725 93,338  
4 Dividends and interest from securities...... 67,054 67,054  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 126,199
b Gross sales price for all assets on line 6a 1,346,777
7 Capital gain net income (from Part IV, line 2)... 1,371
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 439 439  
12 Total. Add lines 1 through 11........ 289,417 162,202  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 158,903 158,903    
b Accounting fees (attach schedule)....... Click to see attachment 16,703 16,703    
c Other professional fees (attach schedule).... Click to see attachment 67,781 67,781    
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 28,387 28,187    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 12,448 12,448    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 284,222 284,022   0
25 Contributions, gifts, grants paid........ 0 0
26 Total expenses and disbursements. Add lines 24 and 25 284,222 284,022   0
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 5,195
b Net investment income (if negative, enter -0-) 0
c Adjusted net income (if negative, enter -0-)...  
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2010)
Form 990-PF (2010)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 3,645 212 221
2 Savings and temporary cash investments.......... 239,356 59,781 59,781
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 912,326 Click to see attachment1,320,729 1,612,839
c Investments—corporate bonds (attach schedule)........ 2,808,823 Click to see attachment2,453,541 2,640,681
11 Investments—land, buildings, and equipment: basis bullet5,252,585
Less: accumulated depreciation (attach schedule) bullet   5,152,503 Click to see attachment5,252,585 5,252,585
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 6,598,032 Click to see attachment6,598,032 5,250,000
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment60,000 Click to see attachment95,000 Click to see attachment95,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 15,774,685 15,779,880 14,911,107
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 16,136,495 15,774,685
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds -361,810 5,195
30 Total net assets or fund balances (see page 17 of the
instructions).................... 15,774,685 15,779,880
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 15,774,685 15,779,880
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 15,774,685
2 Enter amount from Part I, line 27a...................... 2 5,195
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 15,779,880
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 15,779,880
Form 990-PF (2010)
Form 990-PF (2010)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1a
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
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
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,371
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2009   14,235,521  
2008 10,000,000 12,257,376 0.815835
2007 500,000 2,252,724 0.221954
2006 22,150,092 2,932,945 7.552168
2005 146,700 3,100,556 0.047314
2 Total of line 1, column (d) ...................... 2 8.637271
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 2.159318
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 10,695,293
5 Multiply line 4 by line 3....................... 5 23,094,539
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6  
7 Add lines 5 and 6......................... 7 23,094,539
8 Enter qualifying distributions from Part XII, line 4.............. 8 0
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2010)
Form 990-PF (2010)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 0
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2............................ 3  
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  
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 8,377
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 8,377
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 8,377
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet8,377 Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?.............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletOH
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
    Yes
     
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletTHOMAS BONASERA Telephone no.bullet (614) 227-4263
    Located atbullet191 W NATIONWIDE BLVD SUITE 300COLUMBUSOH ZIP+4bullet43215
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
     
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2010?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2010 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2010.)....................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2010?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    DINSMORE & SHOHLClick to see attachment TRUSTEE
    5.00     		0 0 0
    191 W NATIONWIDE BLVD
    COLUMBUS,OH43215
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    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
    DINSMORE & SHOL
    DINSMORE & SHOHLClick to see attachment     		LEGAL 158,448
    191 W NATIONWIDE BLVD
    191 W NATIONWIDE BLVD
    COLUMBUS,OH43215
    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)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3...........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    4,141,788
    b
    Average of monthly cash balances.......................
    1b
    118,345
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    6,598,032
    d
    Total (add lines 1a, b, and c).........................
    1d
    10,858,165
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) Click to see attachment..............
    1e
    659,803
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d..........................
    3
    10,858,165
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    162,872
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    10,695,293
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    534,765
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    534,765
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
     
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    534,765
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4.............................
    5
    534,765
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1.................................
    7
    534,765
    Part XII
    Qualifying Distributions (see page 25 of the instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    0
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes................................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    0
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
     
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2009     		(c)
    2009     		(d)
    2010
    1 Distributable amount for 2010 from Part XI, line 7 534,765
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2010:
    a From 2005.......  
    b From 2006....... 21,147,762
    c From 2007....... 387,364
    d From 2008....... 9,387,131
    e From 2009.......  
    fTotal of lines 3a through e......... 30,922,257
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$  
    a Applied to 2009, but not more than line 2a  
    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)...     		 
    d Applied to 2010 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2010. 534,765 534,765
    (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 30,387,492
    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 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		 
    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 ......     		30,387,492
    10 Analysis of line 9:
    a Excess from 2006.... 20,612,997
    b Excess from 2007.... 387,364
    c Excess from 2008.... 9,387,131
    d Excess from 2009....  
    e Excess from 2010....  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Total .................................bullet 3a  
    bApproved for future payment
    Total ..................................bullet 3b  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 95,725  
    4 Dividends and interest from securities....     14 67,054  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....     18 439  
    8Gain or (loss) from sales of assets other than inventory     18 1,371 124,828
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   164,589 124,828
    13Total. Add line 12, columns (b), (d), and (e)...................
    13289,417
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash....................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements............................
    1b(4)
     
    No
    (5) Loans or loan guarantees..............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2010 AccountingFeesSchedule
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 16,703 16,703    

    TY 2010 CompensationExplanation
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Person Name Explanation
    DINSMORE SHOHL TRUSTEE FEES WERE PAID DIRECTLY TO THE LAW FIRM OF DINSMORE & SHOHL

    TY 2010 ContractorCompensationExpln
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Contractor Explanation
    DINSMORE & SHOL
    DINSMORE & SHOHL     		TRUSTEE FEES PAID DIRECTLY TO LAW FIRM OF DINSMORE & SHOHL

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

    TY 2010 GainLossSaleOtherAssetsSch
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    ABBOT LABS 2010-03 PURCHASE 2010-11   2,350 2,762     -412  
    ABBOT LABS 2010-07 PURCHASE 2010-12   4,799 4,763     36  
    ABBOT LABS 2009-10 PURCHASE 2010-11   4,701 5,127     -426  
    ALLEGIANT   PURCHASE 2010-07   2,066       2,066  
    ALLEGIANT   PURCHASE 2010-09   282       282  
    AMAZON 2009-03 PURCHASE 2010-10   8,459 3,398     5,061  
    AMAZON 2009-03 PURCHASE 2010-11   4,389 1,699     2,690  
    APACHE 2009-02 PURCHASE 2010-11   10,786 8,042     2,744  
    APPLIED MATLS 2009-05 PURCHASE 2010-07   12,100 11,400     700  
    BANCO BILBAO VIZCAYA 2009-10 PURCHASE 2010-04   5,260 7,547     -2,287  
    BANCO BILBAO VIZCAYA 2010-02 PURCHASE 2010-04   2,630 2,666     -36  
    BARD C R 2010-07 PURCHASE 2010-10   12,450 11,899     551  
    BB & T 2009-07 PURCHASE 2010-07   8,370 6,453     1,917  
    BLACKROCK 2010-06 PURCHASE 2010-07   15,278 16,107     -829  
    BLACKROCK 2010-06 PURCHASE 2010-07   7,639 8,043     -404  
    CEF SEL SECTOR 2009-02 PURCHASE 2010-11   7,046 5,278     1,768  
    CELGENE CORP 2009-06 PURCHASE 2010-07   5,084 4,288     796  
    CELGENE CORP 2009-09 PURCHASE 2010-07   5,084 5,400     -316  
    CELGENE CORP 2009-09 PURCHASE 2010-07   5,084 5,150     -66  
    CELGENE CORP 2009-10 PURCHASE 2010-07   5,084 5,431     -347  
    CENTURYTEL 2009-12 PURCHASE 2010-11   8,302 7,392     910  
    CENTURYTEL 2009-12 PURCHASE 2010-11   4,234 3,624     610  
    CENTURYTEL 2010-01 PURCHASE 2010-11   4,234 3,545     689  
    CENTURYTEL 2010-01 PURCHASE 2010-12   4,608 3,545     1,063  
    CENTURYTEL 2010-03 PURCHASE 2010-12   4,640 3,483     1,157  
    CENTURYTEL 2010-03 PURCHASE 2010-12   4,640 3,424     1,216  
    COLGATE PALMOLIVE 2008-03 PURCHASE 2010-11   3,882 3,820     62  
    COLGATE PALMOLIVE 2009-02 PURCHASE 2010-11   3,882 3,152     730  
    DANAHER CORP 2009-09 PURCHASE 2010-07   7,462 6,743     719  
    DANAHER CORP 2009-12 PURCHASE 2010-07   7,462 7,247     215  
    DEVRY INC 2009-07 PURCHASE 2010-06   5,685 4,849     836  
    DEVRY INC 2009-02 PURCHASE 2010-06   5,685 5,257     428  
    DEVRY INC 2009-05 PURCHASE 2010-06   2,842 2,220     622  
    DEVRY INC 2009-04 PURCHASE 2010-06   2,842 2,031     811  
    DEVRY INC 2009-02 PURCHASE 2010-06   5,685 5,730     -45  
    DEVRY INC 2009-03 PURCHASE 2010-06   5,685 4,356     1,329  
    DIAMOND OFFSHORE DRILLING 2010-06 PURCHASE 2010-07   1,613 1,502     111  
    DIAMOND OFFSHORE DRILLING 2009-12 PURCHASE 2010-07   6,451 9,922     -3,471  
    DIAMOND OFFSHORE DRILLING 2010-05 PURCHASE 2010-07   1,613 1,850     -237  
    DIAMOND OFFSHORE DRILLING 2010-06 PURCHASE 2010-07   3,226 2,988     238  
    DIAMOND OFFSHORE DRILLING 2010-05 PURCHASE 2010-07   1,613 1,670     -57  
    DODGE & COX 2009-03 PURCHASE 2010-11   13,380 11,630     1,750  
    DODGE & COX 2008-03 PURCHASE 2010-11   13,380 11,391     1,989  
    DODGE & COX 2008-03 PURCHASE 2010-12   26,520 22,782     3,738  
    DODGE & COX 2008-03 PURCHASE 2010-12   39,570 34,173     5,397  
    DUKE ENERGY 2010-01 PURCHASE 2010-12   1,756 1,668     88  
    DUKE ENERGY 2010-03 PURCHASE 2010-12   1,756 1,657     99  
    DUKE ENERGY 2010-06 PURCHASE 2010-12   1,756 1,574     182  
    DUKE ENERGY 2009-12 PURCHASE 2010-12   7,104 7,168     -64  
    EMERSON ELEC 2010-03 PURCHASE 2010-08   7,039 7,205     -166  
    EXXON MOBIL 2009-07 PURCHASE 2010-06   3,014 3,571     -557  
    EXXON MOBIL 2009-02 PURCHASE 2010-06   3,014 3,586     -572  
    FREEPORT COPPER & GOLD 2010-05 PURCHASE 2010-11   5,013 3,666     1,347  
    FREEPORT COPPER & GOLD 2010-02 PURCHASE 2010-11   5,013 3,626     1,387  
    FRONTIER COMM 2010-03 PURCHASE 2010-08   184 181     3  
    FRONTIER COMM 2010-02 PURCHASE 2010-08   184 179     5  
    FRONTIER COMM 2010-06 PURCHASE 2010-08   367 338     29  
    FRONTIER COMM 2009-12 PURCHASE 2010-08   367 422     -55  
    GENERAL ELEC 2009-09 PURCHASE 2010-03   1,651 1,715     -64  
    GENERAL ELEC 2009-10 PURCHASE 2010-03   4,953 4,904     49  
    GILEAD SCIENCES INC. 2009-02 PURCHASE 2010-01   4,318 4,951     -633  
    GILEAD SCIENCES INC. 2010-03 PURCHASE 2010-04   4,054 4,764     -710  
    GILEAD SCIENCES INC. 2010-06 PURCHASE 2010-11   3,757 3,507     250  
    GILEAD SCIENCES INC. 2010-07 PURCHASE 2010-11   3,757 3,480     277  
    HEWLETT PACKARD 2010-03 PURCHASE 2010-08   3,899 5,188     -1,289  
    HEWLETT PACKARD 2010-05 PURCHASE 2010-08   7,798 9,980     -2,182  
    HOME DEPOT 2009-12 PURCHASE 2010-04   1,768 1,458     310  
    HOME DEPOT 2009-02 PURCHASE 2010-04   1,768 1,079     689  
    HOME DEPOT 2009-02 PURCHASE 2010-12   5,275 3,237     2,038  
    HOME DEPOT 2009-03 PURCHASE 2010-12   1,758 883     875  
    INTEL 2009-02 PURCHASE 2010-10   3,978 3,092     886  
    JP MORGAN CHASE 2009-02 PURCHASE 2010-10   739 429     310  
    JP MORGAN CHASE 2009-03 PURCHASE 2010-10   2,956 1,226     1,730  
    MASTERCARD INC 2010-08 PURCHASE 2010-12   16,444 15,546     898  
    MCDONALDS 2009-12 PURCHASE 2010-10   3,943 3,131     812  
    MCDONALDS 2009-09 PURCHASE 2010-11   3,977 2,723     1,254  
    MEDTRONIC 2010-07 PURCHASE 2010-08   3,217 3,717     -500  
    MEDTRONIC 2009-09 PURCHASE 2010-08   6,434 7,420     -986  
    MEDTRONIC 2009-10 PURCHASE 2010-08   3,217 3,572     -355  
    MET LIFE 2010-01 PURCHASE 2010-07   11,826 11,202     624  
    MONSANTO 2009-07 PURCHASE 2010-06   2,487 4,228     -1,741  
    MONSANTO 2010-05 PURCHASE 2010-06   1,244 1,391     -147  
    MONSANTO 2010-05 PURCHASE 2010-06   3,731 3,973     -242  
    MONSANTO 2009-02 PURCHASE 2010-06   4,975 7,863     -2,888  
    MONSANTO 2009-03 PURCHASE 2010-06   2,487 3,505     -1,018  
    NEXTERA ENERGY 2010-03 PURCHASE 2010-11   2,561 2,380     181  
    NEXTERA ENERGY 2010-02 PURCHASE 2010-11   2,561 2,281     280  
    NEXTERA ENERGY 2009-12 PURCHASE 2010-11   5,122 5,656     -534  
    NOVO NORDISK 2009-11 PURCHASE 2010-07   8,335 6,311     2,024  
    NUCOR 2010-02 PURCHASE 2010-04   2,244 2,018     226  
    NUCOR 2009-09 PURCHASE 2010-07   5,911 7,356     -1,445  
    NUCOR 2009-10 PURCHASE 2010-07   1,970 2,293     -323  
    OCCIDENTAL PETE 2009-02 PURCHASE 2010-07   8,121 5,032     3,089  
    OCCIDENTAL PETE 2009-02 PURCHASE 2010-11   4,011 2,516     1,495  
    OCCIDENTAL PETE 2009-03 PURCHASE 2010-11   4,011 2,457     1,554  
    OCCIDENTAL PETE 2009-03 PURCHASE 2010-11   8,807 4,914     3,893  
    PFIZER 2009-10 PURCHASE 2010-07   4,389 5,066     -677  
    PFIZER 2009-09 PURCHASE 2010-07   2,926 3,299     -373  
    PFIZER 2009-09 PURCHASE 2010-07   7,315 8,184     -869  
    PRAXAIR 2010-07 PURCHASE 2010-08   4,350 4,059     291  
    PRAXAIR 2009-02 PURCHASE 2010-08   8,700 6,378     2,322  
    PRAXAIR 2009-03 PURCHASE 2010-08   4,350 2,707     1,643  
    QUALCOMM 2010-03 PURCHASE 2010-11   4,762 3,842     920  
    QUALCOMM 2010-06 PURCHASE 2010-11   4,762 3,579     1,183  
    QUALCOMM 2009-07 PURCHASE 2010-11   4,762 4,722     40  
    QUALCOMM 2009-05 PURCHASE 2010-11   7,143 6,426     717  
    QUALCOMM 2006-10 PURCHASE 2010-11   14,286 11,875     2,411  
    QUALCOMM 2009-02 PURCHASE 2010-11   2,381 1,861     520  
    RAYTHEON 2009-10 PURCHASE 2010-11   4,732 4,641     91  
    RAYTHEON 2009-07 PURCHASE 2010-11   9,463 9,168     295  
    RAYTHEON 2009-06 PURCHASE 2010-11   4,732 4,500     232  
    RAYTHEON 2009-09 PURCHASE 2010-11   4,732 4,805     -73  
    SECTOR SPDR TR 2009-03 PURCHASE 2010-01   2,928 1,199     1,729  
    SPDR DJ WILSHIRE 2009-10 PURCHASE 2010-05   5,992 7,379     -1,387  
    SPDR DJ WILSHIRE 2009-10 PURCHASE 2010-05   14,980 17,863     -2,883  
    SPDR DJ WILSHIRE 2009-12 PURCHASE 2010-05   8,988 10,479     -1,491  
    SPECTRA ENERGY 2009-02 PURCHASE 2010-11   2,392 1,410     982  
    SPECTRA ENERGY 2009-02 PURCHASE 2010-12   2,454 1,410     1,044  
    SPECTRA ENERGY 2009-02 PURCHASE 2010-12   2,504 1,410     1,094  
    SPECTRA ENERGY 2009-03 PURCHASE 2010-12   5,008 2,574     2,434  
    SPECTRA ENERGY 2009-03 PURCHASE 2010-12   2,504 1,140     1,364  
    SYBASE INC 2009-11 PURCHASE 2010-05   6,435 3,922     2,513  
    SYBASE INC 2009-10 PURCHASE 2010-05   12,870 8,411     4,459  
    SYNGENTA AG 2009-07 PURCHASE 2010-04   2,455 2,423     32  
    SYNGENTA AG 2009-10 PURCHASE 2010-04   2,455 2,305     150  
    TJX 2009-07 PURCHASE 2010-08   8,197 6,756     1,441  
    US BANCORP DEL 2009-10 PURCHASE 2010-04   5,262 4,994     268  
    US BANCORP DEL 2009-12 PURCHASE 2010-06   2,291 2,215     76  
    US BANCORP DEL 2009-11 PURCHASE 2010-06   2,291 2,403     -112  
    VALA SA ADR 2009-10 PURCHASE 2010-07   10,340 10,963     -623  
    VALA SA ADR 2009-11 PURCHASE 2010-07   2,585 2,596     -11  
    VANGUARD EUROPE 2009-10 PURCHASE 2010-06   5,842 7,080     -1,238  
    VANGUARD EUROPE 2009-12 PURCHASE 2010-06   2,921 3,508     -587  
    VERIZON COMM 2009-12 PURCHASE 2010-12   3,459 3,194     265  
    WAL-MART 2009-02 PURCHASE 2010-01   5,431 5,410     21  
    WAL-MART 2008-03 PURCHASE 2010-11   5,399 4,963     436  
    WAL-MART 2009-02 PURCHASE 2010-12   10,824 10,820     4  
    WAL-MART 2008-03 PURCHASE 2010-12   5,412 4,963     449  
    WAL-MART 2009-07 PURCHASE 2010-12   5,412 4,925     487  
    WASTE MGMT 2009-10 PURCHASE 2010-07   3,270 3,139     131  
    WASTE MGMT 2009-09 PURCHASE 2010-07   3,270 2,997     273  
    WASTE MGMT 2009-10 PURCHASE 2010-07   3,270 2,913     357  
    WASTE MGMT 2009-02 PURCHASE 2010-07   3,270 2,864     406  
    WASTE MGMT 2009-03 PURCHASE 2010-07   3,270 2,297     973  
    WASTE MGMT 2009-05 PURCHASE 2010-07   3,270 2,678     592  
    WELLS FARGO 2010-07 PURCHASE 2010-12   9,324 8,025     1,299  
    YUM BRANDS 2009-12 PURCHASE 2010-11   2,521 1,740     781  
    YUM BRANDS 2009-02 PURCHASE 2010-11   2,521 1,438     1,083  
    CATERPILLAR 2009-02 PURCHASE 2010-12   113,821 98,170     15,651  
    FEDERAL HOME LOAN 2009-02 PURCHASE 2010-11   107,767 103,773     3,994  
    ISHARES BARCLAYS TIPS 2009-03 PURCHASE 2010-08   21,532 20,555     977  
    ISHARES BARCLAYS TIPS 2009-03 PURCHASE 2010-08   10,766 9,762     1,004  
    ISHARES BARCLAYS TIPS 2009-03 PURCHASE 2010-08   21,532 19,407     2,125  
    OPPENHEIMER INTL BD 2009-12 PURCHASE 2010-01   531 527     4  
    OPPENHEIMER INTL BD 2009-07 PURCHASE 2010-05   246 243     3  
    OPPENHEIMER INTL BD 2009-06 PURCHASE 2010-05   238 231     7  
    OPPENHEIMER INTL BD 2009-05 PURCHASE 2010-05   229 222     7  
    OPPENHEIMER INTL BD 2009-11 PURCHASE 2010-05   205 220     -15  
    OPPENHEIMER INTL BD 2009-09 PURCHASE 2010-05   217 227     -10  
    OPPENHEIMER INTL BD 2009-10 PURCHASE 2010-05   237 248     -11  
    OPPENHEIMER INTL BD 2010-04 PURCHASE 2010-05   273 281     -8  
    OPPENHEIMER INTL BD 2010-03 PURCHASE 2010-05   258 265     -7  
    OPPENHEIMER INTL BD 2009-12 PURCHASE 2010-05   237 242     -5  
    OPPENHEIMER INTL BD 2010-02 PURCHASE 2010-05   220 224     -4  
    OPPENHEIMER INTL BD 2010-01 PURCHASE 2010-05   236 239     -3  
    OPPENHEIMER INTL BD 2009-08 PURCHASE 2010-05   221 223     -2  
    OPPENHEIMER INTL BD 2009-04 PURCHASE 2010-05   248 227     21  
    OPPENHEIMER INTL BD 2009-03 PURCHASE 2010-05   31,300 27,250     4,050  
    OPPENHEIMER INTL BD 2009-03 PURCHASE 2010-05   194 173     21  
    OPPENHEIMER INTL BD 2009-03 PURCHASE 2010-05   6,260 5,510     750  
    OPPENHEIMER INTL BD 2009-03 PURCHASE 2010-05   31,300 27,300     4,000  
    VANGUARD GNMA 2009-03 PURCHASE 2010-04   86 84     2  
    VANGUARD GNMA 2009-02 PURCHASE 2010-04   421 413     8  
    VANGUARD GNMA 2008-10 PURCHASE 2010-04   32,280 31,080     1,200  
    VANGUARD GNMA 2008-10 PURCHASE 2010-11   33,210 31,080     2,130  
    VANGUARD GNMA 2008-10 PURCHASE 2010-12   21,660 20,720     940  
    VERIZON COMM 2009-02 PURCHASE 2010-12   109,570 91,766     17,804  

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Name of Bond End of Year Book Value End of Year Fair Market Value
    FIFTH THIRD - FIXED INCOME INVESTMEN 2,453,541 2,640,681

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Name of Stock End of Year Book Value End of Year Fair Market Value
    FIFTH THIRD - EQUITY INVESTMENTS 971,155 1,241,690
    FIFTH THIRD - REAL ESTATE INVESTMENT 125,932 128,732
    FIFTH THIRD - ALTERNATIVE STRATEGIES 223,642 242,417

    TY 2010 InvestmentsLandSchedule2
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    ENVIRONMENTAL REMEDIATION & VALUATIO 252,585   252,585 252,585
    LEE ROAD - REAL ESTATE 1,000,000   1,000,000 1,000,000
    SUNBURY RD - REAL ESTATE 4,000,000   4,000,000 4,000,000

    TY 2010 InvestmentsOtherSchedule2
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    INVESTMENT IN WARREN SLAG FMV 1,348,032  
    INVESTMENT IN CENTRAL OHIO ASPHALT FMV 5,250,000 5,250,000

    TY 2010 LegalFeesSchedule
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 158,903      


    TY 2010 OtherAssetsSchedule
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DUE FROM OHIO ROAD PAVING 30,000 65,000 65,000
    DUE FROM WARREN SLAG 30,000 30,000 30,000


    TY 2010 OtherExpensesSchedule
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    BANK FEES 101 101    
    INSURANCE 1,586 1,586    
    UTILITIES 190 190    
    REPAIRS & MAINTENANCE 4,945 4,945    
    FOREIGN TAX PAID 640 640    
    MISCELLANEOUS 4,986 4,986    


    TY 2010 OtherIncomeSchedule2
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    NONDIVIDEND DISTRIBUTIONS 439 439  


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MGMT FEES - FIFTH THI 67,781 67,781    


    TY 2010 ReductionExplanationStatement
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Explanation:
    10% LACK OF MARKETABILITY DISCOUNT PERMITTED BY SEC4942(E)(2)(A) IRC

    TY 2010 TaxesSchedule
    Name:
    RICHARD H & ANN SHAFER FOUNDATION
    C/O DINSMORE & SHOHL LLP
    EIN: 31-6029095
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    REAL ESTATE TAXES 28,187 28,187    
    STATE FILING FEE 200