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
G
Check all that apply:
Name of foundation
THE KENTLAND FOUNDATION INC
 

Number and street (or P.O. box number if mail is not delivered to street address)KENTLAND FARMS PO BOX 879   Room/suite
City or town, state, and ZIP code
BERRYVILLE, VA22611
A Employer identification number

52-6070323
B Telephone number (see page 10 of the instructions)

(540) 955-1082
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$23,045,537J 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) 120,000
2 Check bullet
3 Interest on savings and temporary cash investments 39 39  
4 Dividends and interest from securities...... 39,570 32,607  
5a Gross rents.............. 2,653,810 2,653,810  
b Net rental income or (loss) 1,099,655
6a Net gain or (loss) from sale of assets not on line 10 24,051
b Gross sales price for all assets on line 6a 270,957
7 Capital gain net income (from Part IV, line 2)... 24,051
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 2,837,470 2,710,507  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 616,248 209,524   406,724
14 Other employee salaries and wages...... 236,000 88,500   147,500
15 Pension plans, employee benefits....... 23,988 8,996   14,992
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 3,430 1,715   1,715
c Other professional fees (attach schedule).... Click to see attachment 11,961 11,961    
17 Interest............... 560,408 560,408    
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 69,178 43,021   25,958
19 Depreciation (attach schedule) and depletion... Click to see attachment 737,850 666,226  
20 Occupancy.............. 69,448 23,612   45,836
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 906,176 901,382   4,794
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,234,687 2,515,345   647,519
25 Contributions, gifts, grants paid........ 106,000 106,000
26 Total expenses and disbursements. Add lines 24 and 25 3,340,687 2,515,345   753,519
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -503,217
b Net investment income (if negative, enter -0-) 195,162
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............... 140,885 108,053 108,050
2 Savings and temporary cash investments.......... 23,102    
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........... 3,655 3,655  
10a Investments—U.S. and state government obligations (attach schedule) 277,331 Click to see attachment228,005 246,008
b Investments—corporate stock (attach schedule)........      
c Investments—corporate bonds (attach schedule)........ 316,402 Click to see attachment316,660 332,318
11 Investments—land, buildings, and equipment: basis bullet24,063,674
Less: accumulated depreciation (attach schedule) bullet11,990,060 12,721,694 Click to see attachment12,073,614 17,866,115
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 507,160 Click to see attachment385,889 491,208
14 Land, buildings, and equipment: basis bullet4,738,925
Less: accumulated depreciation (attach schedule) bullet247,063 4,581,632 Click to see attachment4,491,862 3,950,000
15 Other assets (describe bullet) Click to see attachment270,323 Click to see attachment257,860 Click to see attachment51,838
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 18,842,184 17,865,598 23,045,537
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)...... 9,098,504 Click to see attachment8,626,316
22 Other liabilities (describe bullet) Click to see attachment30,068 Click to see attachment28,887
23 Total liabilities (add lines 17 through 22).......... 9,128,572 8,655,203
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.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 9,713,612 9,210,395
30 Total net assets or fund balances (see page 17 of the
instructions).................... 9,713,612 9,210,395
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 18,842,184 17,865,598
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 9,713,612
2 Enter amount from Part I, line 27a...................... 2 -503,217
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 9,210,395
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 9,210,395
Form 990-PF (2010)
Form 990-PF (2010)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a        
b Capital Gain Dividends      
c 404.828 SHS VANGUARD MID CAP GROWTH FUND FUND 301 P 2000-01-01 2010-12-01
d 25,000 US TREASURY NOTE DTD 10/17/05 4.25% P 2005-10-21 2010-10-15
e 298.165 SHS T ROWE PRICE GROWTH STK FD INC P 2009-02-26 2010-10-21
3,709.732 SHS PIMCO PIMS FOREIGN BOND FUND P 2009-08-10 2010-12-01
689.597 SHS PIMCO COMMODITY REAL RETURN STRATEGY INS P 2009-06-16 2010-12-01
416.973 SHS NORTHERN SMALL CAP VALUE FUND # 603 P 2000-01-01 2010-12-01
3,445.796 SHS NEUBERGER & BERMAN LARGE CAP DISCIPLINED P 2009-05-01 2010-12-01
420.262 SHS LAZARD EMERGING MKTS PORTFOLIO INST CLAS P 2008-09-30 2010-12-01
25,000 JP MORGAN CHASE & CO 11/7/06 4.5% P 2005-06-15 2010-11-15
238.791 SHS HARBOR INTERNATIONAL FUND P 2000-01-01 2010-12-01
25,000 GENERAL DYNAMICS CORP P 2004-09-09 2010-08-15
25,000 FEDERAL HOME LOAN BANK P 2003-08-22 2010-08-13
25,000 FED NATL MTG ASSN DTD 6/1/05 P 2005-06-29 2010-06-01
724.268 SHS ARTISAN MID CAP VALUE #1464 CLD TO NEW I P 2000-01-01 2010-12-01
1,009.323 SHS ALLIANZ NFJ LARGE CAP VALUE CL I FUND # P 2008-09-30 2010-12-01
(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       1,421
b        
c 7,458   5,647 1,811
d 25,000   24,990 10
e 8,958   5,361 3,597
39,617   36,615 3,002
6,089   5,117 972
6,046   5,406 640
25,602   18,435 7,167
8,897   7,258 1,639
25,000   25,029 -29
13,879   10,871 3,008
25,000   25,500 -500
25,000   24,522 478
25,000   25,022 -22
14,536   11,882 2,654
13,454   15,251 -1,797
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       1,811
d       10
e       3,597
      3,002
      972
      640
      7,167
      1,639
      -29
      3,008
      -500
      478
      -22
      2,654
      -1,797
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 24,051
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 779,370 12,468,783 0.06251
2008 670,689 9,612,575 0.06977
2007 759,313 8,415,683 0.09023
2006 398,264 10,056,458 0.03960
2005 301,030 10,103,656 0.02979
2 Total of line 1, column (d) ...................... 2 0.29190
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 0.05838
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 14,203,405
5 Multiply line 4 by line 3....................... 5 829,195
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 1,952
7 Add lines 5 and 6......................... 7 831,147
8 Enter qualifying distributions from Part XII, line 4.............. 8 753,519
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2010)
Form 990-PF (2010)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 3,903
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 3,903
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 3,903
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a  
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 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 5
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 3,908
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet0 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
Yes
 
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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)bulletVA
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletJACK WALKER Telephone no.bullet (540) 955-1082
    Located atbulletKENTLAND FARMS PO BOX 879BERRYVILLEVA ZIP+4bullet22611
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2010?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2010 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2010.)....................
    3b
     
    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
     
    No
    .........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
     
    No
    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
    WILLIAM WALKER Treasurer
    40.00     		119,000 12,365  
    PO BOX 837
    BERRYVILLE,VA22611
    ALEXANDRA W HOFFMAN Secretary
    40.00     		135,000 12,480  
    PO BOX 837
    BERRYVILLE,VA22611
    SHEILA STEDMAN Vice President
    40.00     		155,000 14,923  
    PO BOX 837
    BERRYVILLE,VA22611
    LEO JOHN WALKER President
    40.00     		155,000 12,480  
    PO BOX 837
    BERRYVILLE,VA22611
    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
    CELESTE M WALKERClick to see attachment ASST SECRETARY
    40.00     		74,000 4,789  
    PO BOX 837
    BERRYVILLE,VA22611
    HELENE W MCCARRONClick to see attachment ASST TO PRESIDENT
    40.00     		76,000 12,357  
    PO BOX 837
    BERRYVILLE,VA22611
    JULIANA MACDOWELLClick to see attachment ASST TREASURER
    40.00     		86,000 6,842  
    PO BOX 837
    BERRYVILLE,VA22611
    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
    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)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3...........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    0
    b
    Average of monthly cash balances.......................
    1b
    63,531
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    22,982,487
    d
    Total (add lines 1a, b, and c).........................
    1d
    23,046,018
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) ..............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    8,626,317
    3
    Subtract line 2 from line 1d..........................
    3
    14,419,701
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    216,296
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    14,203,405
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    710,170
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    710,170
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    3,903
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    3,903
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    706,267
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4.............................
    5
    706,267
    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
    706,267
    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
    753,519
    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
    753,519
    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
    753,519
    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 7 706,267
    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.......  
    c From 2007....... 66,117
    d From 2008....... 192,166
    e From 2009....... 156,329
    fTotal of lines 3a through e......... 414,612
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 753,519
    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)...     		0
    d Applied to 2010 distributable amount..... 706,267
    e Remaining amount distributed out of corpus 47,252
    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 5 461,864
    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 ......     		461,864
    10 Analysis of line 9:
    a Excess from 2006....  
    b Excess from 2007.... 66,117
    c Excess from 2008.... 192,166
    d Excess from 2009.... 156,329
    e Excess from 2010.... 47,252
    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
    ST THERESA SCHOOL
    PO BOX 526
    ASHBURN,VA20146     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL USE 10,000
    FAUQUIER FAMILY SHELTER SERVICES
    PO BOX 3599
    WARRENTON,VA20188     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL USE 1,000
    CATHOLIC DISTANCE UNIVERSITY
    120 EAST COLONIAL HIGHWAY
    HAMILTON,VA20158     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL USE 2,500
    EDUCATION FOR PARISH SERVICES FOUND
    125 MICHIGAN AVE NE
    WASHINGTON,DC20007     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL USE 1,500
    MARY'S SCHOLARSHIP
    3009 PLYERS MILL ROAD
    KENSINGTON,MD20895     		NONE 509(A)(1) UNRESTRICTED FOR GENERAL USE 2,500
    ST JANE DE CHANTAL
    9601 OLD GEORGETOWN ROAD
    BETHESDA,MD20814     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL PURPOSES 500
    BRIGHTER DAY CARE
    4611 LOUDOUN PARK LANE
    STERLING,VA20164     		NONE 509(A)(1) FOR GENERAL OPERATING EXPENSES 6,000
    WAKEFIELD SCHOOL
    PO BOX 107
    THE PLAINS,VA20198     		NONE 509(A)(1) FOR GENERAL OPERATING PURPOSES 10,000
    CLARKE COUNTY SHERIFF OFFICE
    100 NORTH CHURCH STREET
    BERRYVILLE,VA22611     		NONE NONE FOR LOCAL GOVERNMENT PUBLIC SAFETY PROGRAMS 500
    WASHINGTON MIDDLE SCHOOL FOR GIRLS
    1901 MISSISSIPPI AVE SE
    WASHINGTON,DC20020     		NONE 509(A)(1) FOR GENERAL OPERATING SUPPORT 2,500
    SO OTHERS MAY EAT
    71 O STREET NW
    WASHINGTON,DC20001     		NONE 509(A)(1) FOR FOOD ASSISTANCE 1,000
    AMERICAN CANCER SOCIETY
    8219 TOWN CENTER DR
    BALTIMORE,MD21236     		NONE 509(A)(1) FOR CANCER PATIENT ASSISTANCE 5,000
    HELP WITH HOUSING
    PO BOX 124
    BERRYVILLE,VA22611     		NONE 509(A)(1) FOR GENERAL OPERATING SUPPORT 1,000
    WASHINGTON JESUIT ACADEMY
    900 VARNUM STREET NE
    WASHINGTON,DC20017     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 2,500
    ARCHDIOCESE OF WASHINGTON
    5001 EASTERN AVE
    HYATTSVILLE,MD20017     		NONE 509(A)(1) FOR THE GENERAL CHARITABLE ACTIVITES OF THE ARCHDIOCESE 3,000
    ST JOHN'S CATHOLIC PREP
    889 BUTTERFLY LANE
    FREDERICK,MD21702     		NONE 509(A)(1) FOR CATHOLIC SCHOOL BUILDING FUND 30,000
    SHADY GROVE PREGNANCY CENTER
    16220 SOUTH FREDERICK AVE
    GAITHERSBURG,MD20877     		NONE 509(A)(1) FOR THE INTEREST'S OF WOMEN 1,000
    HOLY CROSS ABBEY
    901 COOL SPRING LANE
    BERRYVILLE,VA22611     		NONE 509(A)(1) FOR GENERAL OPERATING SUPPORT 10,000
    BOY SCOUTS OF AMERICA
    400 SOUTH HANSON STREET
    EASTON,MD21601     		NONE 509(A)(1) FOR GENERAL YOUTH ACTIVITIES 1,000
    FISH OF CLARKE COUNTY
    PO BOX 1154
    BERRYVILLE,VA22611     		NONE 509(A)(1) FOR GENERAL OPERATING SUPPORT 1,000
    JOHN H ENDERS FIRE COMPANY
    9 SOUTH BUCKMARSH ST
    BERRYVILLE,VA22611     		NONE 509(A)(1) FOR GENERAL OPERATING SUPPORT 1,000
    FORDHAM UNIVERSITY
    3A HERITAGE CREST
    SOUTHBURY,CT06488     		NONE 509(A)(1) FOR TUITION ASSISTANCE 2,500
    ST MARTIN'S CHURCH
    201 SOUTH FREDERICK AVE
    GAITHERSBURG,MD20877     		NONE 509(A)(1) FOR GENERAL OPERATING PURPOSES 5,000
    ST MARTINS SCHOOL
    115 SOUTH FREDERICK AVE
    GAITHERSBURG,MD20877     		NONE 509(A)(1) FOR CATHOLIC SCHOOL TUITION ASSISTANCE 5,000
    Total .................................bullet 3a 106,000
    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 39  
    4 Dividends and interest from securities....     14 39,570  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property...... 531120 1,099,655      
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory       1,421 22,630
    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).. 1,099,655 41,030 22,630
    13Total. Add line 12, columns (b), (d), and (e)...................
    131,163,315
    (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: 10000105
    Software Version: 2010v3.2


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    OMB No. 1545-0047
    2010
    Name of organization
    THE KENTLAND FOUNDATION INC
     
    Employer identification number

    52-6070323
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule—
    Special Rules
    ......................... Arrow Bullet   $    
    Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
    Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part I
    Name of organization
    THE KENTLAND FOUNDATION INC
          		Employer identification number

    52-6070323
    Part I
    Contributors (see Instructions)
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
    1
     
     

    ESTATE OF WILLIAM L LOREN    
    834 KENTLANDS LANE
       
    BERRYVILLE, VA   22611

    		$120,000




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part II
    Name of organization
    THE KENTLAND FOUNDATION INC
          		Employer identification number

    52-6070323
    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)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part III
    Name of organization
    THE KENTLAND FOUNDATION INC
          		Employer identification number

    52-6070323
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Additional Data


    Software ID: 10000105
    Software Version: 2010v3.2

    TY 2010 AccountingFeesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 3,430 1,715 0 1,715

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    TY 2010 AmortizationSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Description of Amortized Expenses Date Acquired, Completed, or Expended Amount Amortized Deduction for Prior Years Amortization Method Current Year Amortization Net Investment Income Adjusted Net Income Total Amount of Amortization
    LOAN COSTS 2007-05-21 66,191 11,400 15 4,413     15,813
    LOAN COSTS 2007-11-27 195,915 27,210 15 13,061     40,271

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    TY 2010 DepreciationSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    FARM EQUIPMENT 2009-06-02 54,775 7,825 57 24.49 % 13,414      
    PARKING LOT - JAMESWAY 2009-09-30 100,000 5,000 66 9.50 % 9,500 9,500    
    GREENHOUSE - KENTLAND 2009-06-02 502 7 87 2.56 % 13      
    GREENHOUSE - KENTLAND 2009-06-02 376 5 87 2.56 % 10      
    GARAGE - VINYL - KENTLAND 2009-06-02 1,966 27 87 2.56 % 50      
    RT 608 HOUSE - KENTLAND 2009-06-02 125,334 1,741 87 2.56 % 3,214 3,214    
    CEDAR HALL - KENTLAND 2009-06-02 86,085 1,196 87 2.56 % 2,207 2,207    
    BARN W/ APARTMENT 2009-06-02 92,355 1,283 87 2.56 % 2,368 2,368    
    CABIN - KENTLAND 2009-06-02 33,418 464 87 2.56 % 857 857    
    MAIN HOUSE - KENTLAND 2009-06-02 872,050 12,112 87 2.56 % 22,359      
    IMPROVEMENTS 1998-12-31 27,200 7,698 87 2.56 % 697 697    
    GREENHOUSE - KENTLAND 2006-05-21 800 75 87 2.56 % 21      
    GREENHOUSE - KENTLAND 2006-05-21 600 55 87 2.56 % 15      
    GARAGE - VINYL - KENTLAND 2006-05-21 3,136 290 87 2.56 % 80      
    RT 608 HOUSE - KENTLAND 2006-05-21 199,900 18,582 87 2.56 % 5,125 5,125    
    CEDAR HALL - KENTLAND 2006-05-21 137,300 12,763 87 2.56 % 3,520 3,520    
    BARN - KENTLAND 2006-05-21 147,300 13,692 87 2.56 % 3,777 3,777    
    CABIN - KENTLAND 2006-05-21 53,300 4,955 87 2.56 % 1,367 1,367    
    BUILDOUT - SOMERSET 1997-12-31 25,000 7,719 87 2.56 % 641 641    
    BUILDOUT - SOMERSET 1997-12-31 790,000 243,920 87 2.56 % 20,256 20,256    
    BUILDOUT - SOUTHPARK 1997-12-31 30,250 9,341 87 2.56 % 776 776    
    BUILDOUT - SOUTHPARK 1997-12-31 945,000 291,780 87 2.56 % 24,230 24,230    
    MAIN HOUSE - KENTLAND 2006-05-21 1,390,864 127,213 87 2.56 % 35,662      
    BUILDOUT - SOMERSET 2001-06-01 449,151 98,373 87 2.56 % 11,516 11,516    
    BUILDOUT - SOMERSET 2000-06-01 410,223 99,228 87 2.56 % 10,518 10,518    
    IMPROVEMENTS - SOMERSET 1996-01-01 8,500 3,042 87 2.56 % 218 218    
    BUILDING - SOMERSET 1992-01-01 7,100,000 4,047,752 87 3.18 % 225,397 225,397    
    BUILDOUT - JAMESWAY 2001-06-01 47,251 10,350 87 2.56 % 1,212 1,212    
    BUILDOUT - JAMESWAY 2000-06-01 31,036 7,594 87 2.56 % 796 796    
    BUILDING - JAMESWAY 1991-03-01 4,200,000 2,505,555 87 3.18 % 133,333 133,333    
    IMPROVEMENTS - SOUTHPARK 1996-01-01 137,429 60,898 87 3.18 % 4,363 4,363    
    BUILDING - SOUTHPARK 1991-01-01 2,440,000 1,455,608 87 3.18 % 77,460 77,460    
    IMPROVEMENTS - NORTHPARK 1996-01-01 830,116 297,103 87 2.56 % 21,284 21,284    
    BUILDING - NORTHPARK 1991-03-01 2,000,000 1,193,121 87 3.18 % 63,499 63,499    
    BUILDING - CHATHAM SQ 1990-01-26 499,999 316,799 87 3.18 % 15,873 15,873    
    BUILDING - WENDY'S 1988-02-11 700,000 486,111 87 3.18 % 22,222 22,222    

    TY 2010 EmployeeCompensationExpln
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Employee Explanation
    CELESTE M WALKER  
    HELENE W MCCARRON  
    JULIANA MACDOWELL  

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Name of Bond End of Year Book Value End of Year Fair Market Value
    VARIOUS CORPORATE BONDS 316,660 332,318

    TY 2010 InvestmentsGovtObligationsSch
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    US Government Securities - End of Year Book Value:

    228,005
    US Government Securities - End of Year Fair Market Value:

    246,008
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2010 InvestmentsLandSchedule2
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Miscellaneous 172,019   172,019  
    Land 2,526,323   2,526,323  
    Buildings 21,365,332 11,990,060 9,375,272 17,866,115

    TY 2010 InvestmentsOtherSchedule2
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    PIMCO COMMODITY REAL RETURN STRATEGY FUN AT COST 19,754 23,530
    VARIOUS MUTUAL FUNDS AT COST 327,732 429,275
    PRIME MONEY MARKET AT COST 38,403 38,403

    TY 2010 LandEtcSchedule2
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Land 1,976,664   1,976,664  
    Improvements 100,000 14,500 85,500  
    Buildings 2,607,486 211,324 2,396,162 3,950,000
    Machinery and Equipment 54,775 21,239 33,536  


    TY 2010 MortgagesAndNotesPayableSch 
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Total Mortgage Amount: 8626316

    Item No. 1
    Lender's Name SUN LIFE ASSURANCE CO
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan  
    Balance Due 1680130
    Date of Note  
    Maturity Date  
    Repayment Terms  
    Interest Rate  
    Security Provided by Borrower  
    Purpose of Loan  
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 2
    Lender's Name PROTECTIVE LIFE INSURANCE CO
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan  
    Balance Due 6946186
    Date of Note  
    Maturity Date  
    Repayment Terms  
    Interest Rate  
    Security Provided by Borrower  
    Purpose of Loan  
    Description of Lender Consideration  
    Consideration FMV  


    TY 2010 OtherAssetsSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    UTILITY DEPOSIT   90 90
    Net Intangible Assets 223,496 206,022  
    LOAN ESCROW ACCOUNTS 46,326 51,244 51,244
    FARM CLEARING ACCT 501 504 504


    TY 2010 OtherExpensesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TELEPHONE 3,773 1,283   2,490
    Rental Expenses 870,455 870,455    
    OFFICE SUPPLIES & EXPENSES 2,806 954   1,852
    INTERNET 685 233   452
    INSURANCE 10,983 10,983    
    Amortization 17,474 17,474    


    TY 2010 OtherLiabilitiesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Description Beginning of Year - Book Value End of Year - Book Value
    RENTAL DEPOSITS 30,068 28,887


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 11,961 11,961 0 0


    TY 2010 TaxesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN: 52-6070323
    Software ID:10000105
    Software Version:2010v3.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    REAL ESTATE 16,261 16,261    
    PAYROLL TAXES 52,718 26,760   25,958
    INVESTMENT EXCISE TAX 199