TY 2011 Form 990PF

- TIN:

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

2011

For calendar year 2011, or tax year beginning 01-01-2011 , and ending 12-31-2011

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

Amended returnAddress changeName change

Name of foundation
DAVENPORT-SPIVA CHARITABLE EDUC TRUST

Number and street (or P.O. box number if mail is not delivered to street address)C/O REGIONS BANK P O BOX 2886 Room/suite

City or town, state, and ZIP code
MOBILE, AL366522886

A Employer identification number

64-6183870

B Telephone number (see page 10 of the instructions)

(601) 354-8458

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

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

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

$12,987,615J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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

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

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check
3	Interest on savings and temporary cash investments	104		104
4	Dividends and interest from securities......	361,746		365,132
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		60,878
b	Gross sales price for all assets on line 6a 2,053,147
7	Capital gain net income (from Part IV, line 2)...			60,878
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	422,728		426,114
13	Compensation of officers, directors, trustees, etc.	74,741		59,793		14,948
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		1,100	0	0	1,100
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see page 14 of the instructions)		5,622	1,783		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	81,463		61,576	0	16,048
25	Contributions, gifts, grants paid........	619,960				619,960
26	Total expenses and disbursements. Add lines 24 and 25	701,423		61,576	0	636,008
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-278,695
b	Net investment income (if negative, enter -0-)			364,538
c	Adjusted net income (if negative, enter -0-)...				0

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

Cat. No. 11289X Form 990-PF (2011)

Form 990-PF (2011)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	305,856	129,438	129,438
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see page 15 of the
		instructions)....................
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	1,179,292	961,302	995,375
	b	Investments—corporate stock (attach schedule)........	6,956,157	6,980,673	8,019,243
	c	Investments—corporate bonds (attach schedule)........	3,619,948	3,711,145	3,843,559
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	12,061,253	11,782,558	12,987,615
	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 )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	12,061,253	11,782,558
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................	12,061,253	11,782,558
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	12,061,253	11,782,558

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	12,061,253
2	Enter amount from Part I, line 27a.....................	2	-278,695
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	11,782,558
5	Decreases not included in line 2 (itemize)	5	0
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	11,782,558

Form 990-PF (2011)

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.)		(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	776.24 FEDERAL HOME LOAN MORTGAGE CORP POOL #G11769 DTD 09/01/05 5% 1	2006-08-15	2011-01-18
b	4485.04 FEDERAL HOME LOAN MTG CORP POOL #G12335	2006-12-11	2011-01-18
c	652.78 FEDERAL HOME LOAN MTG CORP POOL #G12559	2007-02-15	2011-01-18
d	903.65 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	2007-12-10	2011-01-18
e	283.13 FEDERAL HOME LN MTG CORP POOL #J05840 5%	2006-01-09	2011-01-18
	5673.39 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-01-25
	644.94 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-01-25
	3057.5 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12/	2007-06-18	2011-01-25
	434.46 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-01-25
	44.16 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-01-25
	2292.13 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-01-25
	898.61 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-01-25
	3045.27 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	2007-12-10	2011-01-25
	2710.83 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-01-25
	73000. CITIGROUP INC FDIC GUARANTEED DTD 08/06/2009 2.25% 12/10/2012	2009-12-15	2011-01-28
	27000. UNITED STATES TREASURY N/B DTD 11/30/09	2010-09-13	2011-01-28
	4000. GENERAL ELECTRIC CO 5% 02/01/2013	2003-02-12	2011-02-09
	30000. GENERAL ELECTRIC CO 5% 02/01/2013	2003-02-12	2011-02-09
	64000. UNITED STATES TREASURY N/B DTD 11/30/09	2010-07-08	2011-02-14
	605.08 FEDERAL HOME LOAN MORTGAGE CORP POOL #G11769 DTD 09/01/05 5% 1	2006-08-15	2011-02-15
	3873.54 FEDERAL HOME LOAN MTG CORP POOL #G12335	2006-12-11	2011-02-15
	667.57 FEDERAL HOME LOAN MTG CORP POOL #G12559	2007-02-15	2011-02-15
	829.29 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	2007-12-10	2011-02-15
	200.93 FEDERAL HOME LN MTG CORP POOL #J05840 5%	2006-01-09	2011-02-15
	4263.73 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-02-25
	531. FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5% 0	2007-04-09	2011-02-25
	2373.92 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12	2007-06-18	2011-02-25
	871.86 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-02-25
	523.95 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-02-25
	2187.72 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-02-25
	3517.49 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-02-25
	927.56 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07/	2007-12-10	2011-02-25
	1969.11 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-02-25
	32000. VERIZON COMMUNICATIONS 5.55% 02/15/201	2007-11-08	2011-03-10
	. SECURITIES LITIGATION SETTLEMENT PROCEEDS		2011-03-14
	566.34 FEDERAL HOME LOAN MORTGAGE CORP POOL #G11769 DTD 09/01/05 5% 1	2006-08-15	2011-03-15
	2979.54 FEDERAL HOME LOAN MTG CORP POOL #G12335	2006-12-11	2011-03-15
	496.94 FEDERAL HOME LOAN MTG CORP POOL #G12559	2007-02-15	2011-03-15
	655.42 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	2007-12-10	2011-03-15
	724.75 FEDERAL HOME LN MTG CORP POOL #J05840 5%	2006-01-09	2011-03-15
	16000. CONOCOPHILLIPS DTD 2/3/09 6.5% 02/01/203	2009-05-20	2011-03-24
	16000. CONOCOPHILLIPS DTD 2/3/09 6.5% 02/01/203	2009-05-21	2011-03-25
	3748.24 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-03-25
	425.4 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-03-25
	2159.64 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12	2007-06-18	2011-03-25
	568.13 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-03-25
	42.47 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-03-25
	1977.61 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-03-25
	2734.63 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-03-25
	2439.43 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	2007-12-10	2011-03-25
	2438.49 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-03-25
	4000. GOLDMAN SACHS GROUP INC DTD 2/5/09 7.5%	2010-05-20	2011-04-07
	4000. MERRILL LYNCH & CO INC SERIES: MTN DTD 04/25/08 6.875% 04/25/201	2009-07-23	2011-04-07
	486.78 FEDERAL HOME LOAN MORTGAGE CORP POOL #G11769 DTD 09/01/05 5% 1	2006-08-15	2011-04-15
	2812.2 FEDERAL HOME LOAN MTG CORP POOL #G12335	2006-12-11	2011-04-15
	497.09 FEDERAL HOME LOAN MTG CORP POOL #G12559	2007-02-15	2011-04-15
	515.35 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	2007-12-10	2011-04-15
	90.78 FEDERAL HOME LN MTG CORP POOL #J05840 5%	2006-01-09	2011-04-15
	3993.73 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-04-25
	546.42 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-04-25
	2287.75 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12	2007-06-18	2011-04-25
	696.05 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-04-25
	4196.98 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-04-25
	1984.21 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-04-25
	2384.58 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-04-25
	1138.86 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	2007-12-10	2011-04-25
	2210.45 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-04-25
	3000. AT&T INC DTD 05/13/08 5.6% 05/15/2018	2008-05-09	2011-05-06
	4000. CA INC DTD 11/13/09 5.375% 12/01/2019	2010-04-16	2011-05-06
	3000. COMCAST CORP DTD 06/18/09 5.7% 07/01/201	2009-07-07	2011-05-06
	34000. GENERAL ELECTRIC CO 5% 02/01/2013	2005-12-07	2011-05-06
	3000. GOLDMAN SACHS GROUP INC DTD 5/6/09 6% 05	2009-05-27	2011-05-06
	5000. MERRILL LYNCH & CO 6.11% 01/29/2037	2010-04-16	2011-05-06
	5000. MORGAN STANLEY SERIES: MTN DTD 9/23/09 5	2009-10-13	2011-05-06
	3000. TALISMAN ENERGY INC DTD 6/1/09 7.75% 06/	2009-09-28	2011-05-06
	16000. TRAVELERS COMPANIES, INC. CALLABLE SERIES: MTN 6.25% 06/15/2037	2007-09-05	2011-05-06
	8236.16 UNITED STATES TREASURY INFLATION INDEX BOND DTD 07/15/08 1.375	2009-11-10	2011-05-06
	5000. VERIZON COMMUNICATIONS DTD 03/28/2011 6%	2011-03-25	2011-05-06
	3000. WACHOVIA CORP DTD 06/08/07 5.75% 06/15/2	2007-10-30	2011-05-06
	19000. TRAVELERS COMPANIES, INC. CALLABLE SERIES: MTN 6.25% 06/15/2037	2007-09-06	2011-05-10
	407.01 FEDERAL HOME LOAN MORTGAGE CORP POOL #G11769 DTD 09/01/05 5% 1	2006-08-15	2011-05-16
	2553.71 FEDERAL HOME LOAN MTG CORP POOL #G12335	2006-12-11	2011-05-16
	445.33 FEDERAL HOME LOAN MTG CORP POOL #G12559	2007-02-15	2011-05-16
	480.71 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	2007-12-10	2011-05-16
	95.75 FEDERAL HOME LN MTG CORP POOL #J05840 5%	2006-01-09	2011-05-16
	3029.79 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-05-25
	414.67 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-05-25
	1753.2 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12/	2007-06-18	2011-05-25
	416.54 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-05-25
	36.42 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-05-25
	1686.33 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-05-25
	351. FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-05-25
	1227.62 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	2007-12-10	2011-05-25
	1666.25 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-05-25
	3000. GENERAL ELECTRIC CAPITAL CORP DTD 02/11/	2011-02-09	2011-06-07
	3000. PFIZER INC DTD 3/24/09 6.2% 03/15/2019	2010-02-04	2011-06-07
	30000. UNITED STATES TREAS BD DTD 2/15/2001 5.375% 02/15/2031	2010-12-10	2011-06-10
	40000. UNITED STATES TREASURY N/B DTD 02/17/09	2011-02-14	2011-06-10
	361.95 FEDERAL HOME LOAN MORTGAGE CORP POOL #G11769 DTD 09/01/05 5% 1	2006-08-15	2011-06-15
	2232.49 FEDERAL HOME LOAN MTG CORP POOL #G12335	2006-12-11	2011-06-15
	406.58 FEDERAL HOME LOAN MTG CORP POOL #G12559	2007-02-15	2011-06-15
	453.57 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	2007-12-10	2011-06-15
	371.69 FEDERAL HOME LN MTG CORP POOL #J05840 5%	2006-01-09	2011-06-15
	64000. UNITED STATES TREASURY N/B DTD 11/30/09	2011-05-06	2011-06-15
	2800.1 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5% 0	2007-03-07	2011-06-27
	348.12 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-06-27
	1865.34 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12	2007-06-18	2011-06-27
	238.59 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-06-27
	478.16 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-06-27
	1589.26 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-06-27
	874.46 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-06-27
	2179.19 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	2007-12-10	2011-06-27
	1841.72 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-06-27
	3000. BB& T CORPORATION DTD 7/27/09 3.85% 07/2	2010-04-28	2011-07-07
	3000. BARCLAYS BANK PLC DTD 04/07/2010 3.9% 04	2010-03-31	2011-07-07
	3000. CREDIT SUISSE NEW YORK DTD 5/4/09 5.5% 0	2010-08-09	2011-07-07
	3000. PETROBRAS INTL FIN CO DTD 10/30/09 5.75%	2011-06-13	2011-07-07
	3000. TARGET CORP CALLABLE 5.375% 05/01/2017	2007-08-27	2011-07-07
	6268.26 UNITED STATES TREASURY INFLATION INDEX BOND DTD 07/15/08 1.375	2009-11-10	2011-07-07
	308.72 FEDERAL HOME LOAN MORTGAGE CORP POOL #G11769 DTD 09/01/05 5% 1	2006-08-15	2011-07-15
	2210.76 FEDERAL HOME LOAN MTG CORP POOL #G12335	2006-12-11	2011-07-15
	390.91 FEDERAL HOME LOAN MTG CORP POOL #G12559	2007-02-15	2011-07-15
	439.18 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	2007-12-10	2011-07-15
	610.87 FEDERAL HOME LN MTG CORP POOL #J05840 5%	2006-01-09	2011-07-15
	3148.66 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-07-25
	393.16 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-07-25
	1695.1 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12/	2007-06-18	2011-07-25
	359.58 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-07-25
	1040.06 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-07-25
	1583.49 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-07-25
	2889.59 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-07-25
	216.05 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07/	2007-12-10	2011-07-25
	1634.11 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-07-25
	4000. AFLAC INC DTD 5/21/09 8.5% 05/15/2019	2011-06-15	2011-08-09
	6000. CVS/CAREMARK CORPORATION DTD 9/11/09 6.1	2009-09-21	2011-08-09
	13738.31 FEDERAL HOME LOAN MORTGAGE CORP POOL #G11769 DTD 09/01/05 5%	2006-08-15	2011-08-09
	82978.62 FEDERAL HOME LOAN MTG CORP POOL #G12335	2006-12-11	2011-08-09
	14555.94 FEDERAL HOME LOAN MTG CORP POOL #G12559	2007-02-15	2011-08-09
	15574.02 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01	2007-12-10	2011-08-09
	10390.12 FEDERAL HOME LN MTG CORP POOL #J05840 5%	2006-01-09	2011-08-09
	4000. FEDERAL NATIONAL MORTGAGE ASSN 5% 03/1	2007-12-10	2011-08-09
	4000. HESS CORPORATION DTD 2/3/09 8.125% 02/15	2009-09-21	2011-08-09
	391.55 FEDERAL HOME LOAN MORTGAGE CORP POOL #G11769 DTD 09/01/05 5% 1	2006-08-15	2011-08-15
	2076.34 FEDERAL HOME LOAN MTG CORP POOL #G12335	2006-12-11	2011-08-15
	353.11 FEDERAL HOME LOAN MTG CORP POOL #G12559	2007-02-15	2011-08-15
	447.69 FEDERAL HOME LOAN MTG CORP POOL #G12593 DTD 02/01/07 5% 09/01/2	2007-12-10	2011-08-15
	85.07 FEDERAL HOME LN MTG CORP POOL #J05840 5%	2006-01-09	2011-08-15
	18000. UNITED STATES TREASURY N/B DTD 11/30/09	2011-07-07	2011-08-18
	14000. UNITED STATES TREASURY N/B DTD 11/30/09	2011-07-07	2011-08-24
	2696.93 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-08-25
	392.3 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-08-25
	1403.27 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12	2007-06-18	2011-08-25
	355.83 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-08-25
	36.27 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-08-25
	1385.45 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-08-25
	1803.95 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-08-25
	1181.56 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	2007-12-10	2011-08-25
	1691.55 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-08-25
	158092.47 UNITED STATES TREASURY INFLATION INDEX BOND DTD 07/15/08 1.3	2009-11-10	2011-08-25
	807. FRONTIER COMMUNICATIONS CORP	2005-09-23	2011-09-02
	3910. ROBERT HALF INTL INC COM	2009-07-29	2011-09-02
	32000. UNITED STATES TREASURY N/B DTD 11/30/09	2011-09-01	2011-09-13
	32000. UNITED STATES TREASURY N/B DTD 11/30/09	2011-09-01	2011-09-15
	1180.87 FEDERAL NATIONAL MORTGAGE ASSN POOL #AH6827 DTD 03/01/2011 4%	2011-08-09	2011-09-26
	3012.43 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-09-26
	387.24 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-09-26
	1317.49 FEDERAL NATIONAL MORTGAGE ASSN POOL #735580 DTD 05/01/05 5% 06	2011-08-09	2011-09-26
	1647.99 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12	2007-06-18	2011-09-26
	322.24 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-09-26
	1663.1 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-09-26
	1728.12 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-09-26
	4682.18 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-09-26
	1117.72 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07	2007-12-10	2011-09-26
	1416.68 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-09-26
	1637.76 FEDERAL NATIONAL MORTGAGE ASSN POOL #AE3066 DTD 09/01/2010 3.5	2011-08-09	2011-09-26
	276000. UNITED STATES TREASURY N/B DTD 11/30/09	2010-04-30	2011-10-06
	8000. UNITED STATES TREASURY N/B DTD 11/30/09	2011-09-01	2011-10-06
	2483.12 FEDERAL NATIONAL MORTGAGE ASSN POOL #AH6827 DTD 03/01/2011 4%	2011-08-09	2011-10-25
	3015.46 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-10-25
	434. FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5% 0	2007-04-09	2011-10-25
	1296.91 FEDERAL NATIONAL MORTGAGE ASSN POOL #735580 DTD 05/01/05 5% 06	2011-08-09	2011-10-25
	1592.38 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12	2007-06-18	2011-10-25
	455.55 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-10-25
	30.72 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-10-25
	1405.39 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-10-25
	359.37 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-10-25
	723.52 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07/	2007-12-10	2011-10-25
	1204.03 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-10-25
	2816.17 FEDERAL NATIONAL MORTGAGE ASSN POOL #AE3066 DTD 09/01/2010 3.5	2011-08-09	2011-10-25
	33000. BB& T CORPORATION DTD 7/27/09 3.85% 07/2	2010-04-28	2011-10-28
	3000. CATERPILLAR INC DTD 12/05/08 7.9% 12/15/	2008-12-03	2011-11-04
	4000. CITIGROUP INC DTD 06/15/2010 6% 12/13/20	2010-12-13	2011-11-04
	3000. JOHN DEERE CAPITAL CORP INSD: FDIC DTD 12/19/08 2.875% 06/19/201	2008-12-16	2011-11-04
	3000. KRAFT FOODS INC DTD 02/08/2010 4.125% 02	2010-02-05	2011-11-04
	3000. ORACLE CORPORATION DTD 04/09/08 5.75% 04	2008-04-02	2011-11-04
	4000. TIME WARNER CABLE 6.75% 07/01/2018	2009-08-11	2011-11-04
	5000. UNITED STATES TREAS BDS DTD 8/15/93 6.25% 08/15/2023	2011-02-14	2011-11-04
	7000. UNITED STATES TREASURY N/B DTD 11/15/201	2011-06-13	2011-11-04
	5000. VERIZON COMMUNICATIONS DTD 03/28/2011 6%	2011-03-25	2011-11-04
	32000. UNITED STATES TREASURY N/B DTD 06/01/10	2011-10-06	2011-11-09
	31000. UNITED STATES TREASURY N/B DTD 06/01/10	2011-10-06	2011-11-14
	1906.28 FEDERAL NATIONAL MORTGAGE ASSN POOL #AH6827 DTD 03/01/2011 4%	2011-08-09	2011-11-25
	3511.21 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-11-25
	400.87 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-11-25
	1594.4 FEDERAL NATIONAL MORTGAGE ASSN POOL #735580 DTD 05/01/05 5% 06/	2011-08-09	2011-11-25
	1719.25 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12	2007-06-18	2011-11-25
	378.01 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-11-25
	30.76 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-11-25
	1366.97 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-11-25
	1042.53 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-11-25
	1041. FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07/0	2007-12-10	2011-11-25
	1271.9 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11/	2007-11-08	2011-11-25
	2495.73 FEDERAL NATIONAL MORTGAGE ASSN POOL #AE3066 DTD 09/01/2010 3.5	2011-08-09	2011-11-25
	4000. BANK OF AMERICA CORP	2010-03-31	2011-11-28
	2300. TIFFANY & CO	2008-05-19	2011-11-28
	10000. PIMCO LOW DURATION FUND INSTL CLASS	2010-04-06	2011-11-29
	2219.45 FEDERAL NATIONAL MORTGAGE ASSN POOL #AH6827 DTD 03/01/2011 4%	2011-08-09	2011-12-27
	385.9 FEDERAL NATIONAL MORTGAGE ASSN POOL #AL0393 DTD 06/01/2011 4.5%	2011-11-04	2011-12-27
	3582.13 FEDERAL NATIONAL MORTGAGE ASSN POOL #725424 DTD 04/01/04 5.5%	2007-03-07	2011-12-27
	444.1 FEDERAL NATIONAL MORTGAGE ASSN POOL #725598 DTD 06/01/2004 5.5%	2007-04-09	2011-12-27
	1475.99 FEDERAL NATIONAL MORTGAGE ASSN POOL #735580 DTD 05/01/05 5% 06	2011-08-09	2011-12-27
	1657.6 FEDERAL NATIONAL MORTGAGE ASSN POOL #745079 DTD 11/01/05 5% 12/	2007-06-18	2011-12-27
	374.12 FEDERAL NATIONAL MTG ASSN POOL #847931 5	2006-01-09	2011-12-27
	33.38 FEDERAL NATL MTG ASSN POOL #852029 6% 01	2006-01-09	2011-12-27
	1239.38 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-05-07	2011-12-27
	3396.08 FEDERAL NATIONAL MORTGAGE ASSN POOL #888	2007-08-27	2011-12-27
	777.23 FEDERAL NATIONAL MORTGAGE ASSN POOL #938134 DTD 06/01/07 6% 07/	2007-12-10	2011-12-27
	1163.53 FEDERAL NATIONAL MORTGAGE ASSN POOL #959596 DTD 11/01/07 6% 11	2007-11-08	2011-12-27
	2116.71 FEDERAL NATIONAL MORTGAGE ASSN POOL #AE3066 DTD 09/01/2010 3.5	2011-08-09	2011-12-27

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	776	754	22
b	4,485	4,435	50
c	653	643	10
d	904	895	9
e	283	281	2
	5,673	5,648	25
	645	639	6
	3,058	2,954	104
	434	432	2
	44	45	-1
	2,292	2,309	-17
	899	895	4
	3,045	3,077	-32
	2,711	2,730	-19
	75,124	74,403	721
	27,113	27,111	2
	4,273	4,040	233
	32,032	30,297	1,735
	64,248	64,012	236
	605	587	18
	3,874	3,830	44
	668	657	11
	829	822	7
	201	200	1
	4,264	4,244	20
	531	526	5
	2,374	2,293	81
	872	866	6
	524	531	-7
	2,188	2,204	-16
	3,517	3,505	12
	928	937	-9
	1,969	1,983	-14
	35,946	32,288	3,658
	214		214
	566	550	16
	2,980	2,946	34
	497	489	8
	655	649	6
	725	720	5
	18,348	15,614	2,734
	18,288	15,593	2,695
	3,748	3,731	17
	425	422	3
	2,160	2,086	74
	568	564	4
	42	43	-1
	1,978	1,992	-14
	2,735	2,725	10
	2,439	2,465	-26
	2,438	2,456	-18
	4,657	4,392	265
	4,451	3,985	466
	487	473	14
	2,812	2,781	31
	497	489	8
	515	511	4
	91	90	1
	3,994	3,976	18
	546	542	4
	2,288	2,210	78
	696	691	5
	4,197	4,255	-58
	1,984	1,999	-15
	2,385	2,376	9
	1,139	1,151	-12
	2,210	2,226	-16
	3,346	3,003	343
	4,258	4,132	126
	3,325	3,033	292
	36,305	34,153	2,152
	3,317	3,066	251
	4,936	4,697	239
	5,253	5,017	236
	3,735	3,543	192
	17,749	15,588	2,161
	8,935	8,374	561
	5,267	5,034	233
	3,381	3,036	345
	20,857	18,497	2,360
	407	395	12
	2,554	2,525	29
	445	439	6
	481	476	5
	96	95	1
	3,030	3,016	14
	415	411	4
	1,753	1,694	59
	417	414	3
	36	37	-1
	1,686	1,699	-13
	351	350	1
	1,228	1,240	-12
	1,666	1,678	-12
	3,137	3,036	101
	3,548	3,368	180
	36,197	34,758	1,439
	35,563	32,733	2,830
	362	351	11
	2,232	2,208	24
	407	400	7
	454	449	5
	372	369	3
	64,186	64,234	-48
	2,800	2,787	13
	348	345	3
	1,865	1,802	63
	239	237	2
	478	485	-7
	1,589	1,601	-12
	874	871	3
	2,179	2,202	-23
	1,842	1,855	-13
	3,095	3,134	-39
	3,112	3,011	101
	3,294	3,330	-36
	3,223	3,201	22
	3,432	2,944	488
	6,812	6,371	441
	309	300	9
	2,211	2,186	25
	391	385	6
	439	435	4
	611	607	4
	3,149	3,134	15
	393	390	3
	1,695	1,638	57
	360	357	3
	1,040	1,054	-14
	1,583	1,595	-12
	2,890	2,879	11
	216	218	-2
	1,634	1,646	-12
	5,074	4,970	104
	6,643	6,098	545
	14,809	13,339	1,470
	89,448	82,052	7,396
	15,691	14,333	1,358
	16,788	15,433	1,355
	11,200	10,325	875
	4,651	4,093	558
	5,288	4,770	518
	392	380	12
	2,076	2,053	23
	353	348	5
	448	444	4
	85	85
	18,035	18,052	-17
	14,027	14,038	-11
	2,697	2,685	12
	392	389	3
	1,403	1,356	47
	356	353	3
	36	37	-1
	1,385	1,396	-11
	1,804	1,797	7
	1,182	1,194	-12
	1,692	1,703	-11
	177,446	160,688	16,758
	5,778	6,558	-780
	87,778	95,136	-7,358
	32,048	32,057	-9
	32,046	32,056	-10
	1,181	1,241	-60
	3,012	2,999	13
	387	384	3
	1,317	1,421	-104
	1,648	1,592	56
	322	320	2
	1,663	1,686	-23
	1,728	1,741	-13
	4,682	4,665	17
	1,118	1,129	-11
	1,417	1,427	-10
	1,638	1,699	-61
	276,291	275,674	617
	8,008	8,014	-6
	2,483	2,609	-126
	3,015	3,002	13
	434	430	4
	1,297	1,399	-102
	1,592	1,538	54
	456	452	4
	31	31
	1,405	1,416	-11
	359	358	1
	724	731	-7
	1,204	1,213	-9
	2,816	2,922	-106
	33,748	34,389	-641
	3,995	2,995	1,000
	4,237	4,364	-127
	3,049	3,076	-27
	3,278	3,018	260
	3,620	2,999	621
	4,779	4,395	384
	7,019	6,128	891
	7,406	6,853	553
	6,118	5,034	1,084
	32,121	32,135	-14
	31,113	31,131	-18
	1,906	2,003	-97
	3,511	3,495	16
	401	397	4
	1,594	1,720	-126
	1,719	1,661	58
	378	375	3
	31	31
	1,367	1,377	-10
	1,043	1,039	4
	1,041	1,052	-11
	1,272	1,281	-9
	2,496	2,589	-93
	20,400	71,000	-50,600
	167,950	111,074	56,876
	102,800	104,400	-1,600
	2,219	2,332	-113
	386	411	-25
	3,582	3,566	16
	444	440	4
	1,476	1,592	-116
	1,658	1,601	57
	374	372	2
	33	34	-1
	1,239	1,249	-10
	3,396	3,384	12
	777	785	-8
	1,164	1,172	-8
	2,117	2,196	-79

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			22
b			50
c			10
d			9
e			2
			25
			6
			104
			2
			-1
			-17
			4
			-32
			-19
			721
			2
			233
			1,735
			236
			18
			44
			11
			7
			1
			20
			5
			81
			6
			-7
			-16
			12
			-9
			-14
			3,658
			214
			16
			34
			8
			6
			5
			2,734
			2,695
			17
			3
			74
			4
			-1
			-14
			10
			-26
			-18
			265
			466
			14
			31
			8
			4
			1
			18
			4
			78
			5
			-58
			-15
			9
			-12
			-16
			343
			126
			292
			2,152
			251
			239
			236
			192
			2,161
			561
			233
			345
			2,360
			12
			29
			6
			5
			1
			14
			4
			59
			3
			-1
			-13
			1
			-12
			-12
			101
			180
			1,439
			2,830
			11
			24
			7
			5
			3
			-48
			13
			3
			63
			2
			-7
			-12
			3
			-23
			-13
			-39
			101
			-36
			22
			488
			441
			9
			25
			6
			4
			4
			15
			3
			57
			3
			-14
			-12
			11
			-2
			-12
			104
			545
			1,470
			7,396
			1,358
			1,355
			875
			558
			518
			12
			23
			5
			4

			-17
			-11
			12
			3
			47
			3
			-1
			-11
			7
			-12
			-11
			16,758
			-780
			-7,358
			-9
			-10
			-60
			13
			3
			-104
			56
			2
			-23
			-13
			17
			-11
			-10
			-61
			617
			-6
			-126
			13
			4
			-102
			54
			4

			-11
			1
			-7
			-9
			-106
			-641
			1,000
			-127
			-27
			260
			621
			384
			891
			553
			1,084
			-14
			-18
			-97
			16
			4
			-126
			58
			3

			-10
			4
			-11
			-9
			-93
			-50,600
			56,876
			-1,600
			-113
			-25
			16
			4
			-116
			57
			2
			-1
			-10
			12
			-8
			-8
			-79

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	60,878
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . .		3

Part V

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

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

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

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

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

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2010	489,459	12,774,301	0.038316
2009	346,058	11,464,773	0.030184
2008	393,095	13,152,754	0.029887
2007
2006

2	Total of line 1, column (d) ......................	2	0.098387
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	0.032796
4	Enter the net value of noncharitable-use assets for 2011 from Part X, line 5.....	4	13,556,783
5	Multiply line 4 by line 3.......................	5	444,605
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	3,645
7	Add lines 5 and 6.........................	7	448,250
8	Enter qualifying distributions from Part XII, line 4..............	8	636,008
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 (2011)

Page 4

Part VI

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

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	3,645
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	3,645
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-).	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	3,645
6	Credits/Payments:

a	2011 estimated tax payments and 2010 overpayment credited to 2011	6a	3,584
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	3,584
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	61
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2012 estimated tax	Refunded	11	0

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

Yes

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

instructions) bullet

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

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

Yes

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

or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011 (see instructions for Part XIV on

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

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

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

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

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

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

Yes

Website address bullet

The books are in care of bullet

REGIONS BANK Telephone no. bullet

(601) 354-8458

Located at bullet

210 EAST CAPITOLJACKSONMS ZIP+4 bullet

39201

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

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

At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over

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

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

Form 990-PF (2011)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

that were not corrected before the first day of the tax year beginning in 2011?.............

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

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

At the end of tax year 2011, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2011?...............YesNo

If “Yes,” list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If “Yes,” did it have excess business holdings in 2011 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 2011.)....................

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

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

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If “Yes” to 6b, file Form 8870.

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

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

Form 990-PF (2011)

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
REGIONS BANK	TRUSTEE 20	74,741
210 EAST CAPITOL JACKSON,MS39201	TRUSTEE 20	74,741

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...................				0

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

Total number of others receiving over $50,000 for professional services............. 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 (2011)

Page 7

Part IX-B

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

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


2


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

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

Part X

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

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

purposes:

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

13,763,231

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

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

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

13,763,231

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

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

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

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

13,763,231

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

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

206,448

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

13,556,783

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

677,839

Part XI

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

and do not complete this part.)

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

677,839

Tax on investment income for 2011 from Part VI, line 5......

3,645

Income tax for 2011. (This does not include the tax from Part VI.)...

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

3,645

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

674,194

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

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

674,194

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

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

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

674,194

Part XII

Qualifying Distributions (see page 25 of the instructions)

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

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

636,008

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

636,008

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

3,645

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

632,363

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 (2011)

Page 8

Part XIII

Undistributed Income (see page 26 of the instructions)

		(a) Corpus	(b) Years prior to 2010	(c) 2010	(d) 2011
1 Distributable amount for 2011 from Part XI, line 7					674,194
2 Undistributed income, if any, as of the end of 2011:
a Enter amount for 2010 only.......				619,958
b Total for prior years:2009, 20, 20			0
3 Excess distributions carryover, if any, to 2011:
a From 2006.......	0
b From 2007.......	0
c From 2008.......	0
d From 2009.......	0
e From 2010.......	0
fTotal of lines 3a through e.........		0
4Qualifying distributions for 2011 from Part
XII, line 4: $ 636,008
a Applied to 2010, but not more than line 2a				619,958
b Applied to undistributed income of prior years (Election required—see page 26 of the instructions)			0
c Treated as distributions out of corpus (Election required—see page 26 of the instructions)...		0
d Applied to 2011 distributable amount.....					16,050
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2011.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount—see page 27 of the instructions ...			0
e Undistributed income for 2010. Subtract line 4a from line 2a. Taxable amount—see page 27 of the instructions ...........				0
f Undistributed income for 2011. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2011 ..........					658,144
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see page 27 of the instructions) ...........		0
8Excess distributions carryover from 2006 not applied on line 5 or line 7 (see page 27 of the instructions) .............		0
9Excess distributions carryover to 2012. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2007....	0
b Excess from 2008....	0
c Excess from 2009....	0
d Excess from 2010....	0
e Excess from 2011....	0

Form 990-PF (2011)

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 2011, enter the date of the ruling....... bullet

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

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2011	(b) 2010	(c) 2009	(d) 2008	(e) Total

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

Part XV

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

1Information Regarding Foundation Managers:

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

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

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

Check here bullet

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

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

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 (2011)

Page 10

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
EMORY UNIVERSITY BELVA D WHITE ATLANTA,GA30322	NONE	EXEMPT	SUPPORT OF ROOM AT LIBRARY	12,399
ANDREW JACKSON COUNCIL BSA ATTN ANTHONY D HAINES JACKSON,MS39202	NONE	EXEMPT	SUPPORT OF RECIPIENT'S FUNCTIONS	12,399
MILLSAPS COLLEGE ATTN LOU BURNEY JACKSON,MS39210	NONE	EXEMPT	FOR SCHOLARSHIPS	154,990
MISSISSIPPI COLLEGE P O BOX 4051 CLINTON,MS39058	NONE	EXEMPT	FOR SCHOLARSHIPS	92,994
MISSISSIPPI BAPT MEDICAL CENTER BAPTIST HTH FDTN/DANNY RUTLAND JACKSON,MS39201	NONE	EXEMPT	FOR SCHOLARSHIPS	154,990
ST DOMINIC HEALTH SERVICES INC ATTN KAREN THOMAS JACKSON,MS39216	NONE	EXEMPT	SUPPORT OF RECIPIENT'S FUNCTIONS	61,996
CITY OF FOREST PUBLIC LIBRARY SYSTEM FOREST,MS39074	NONE	EXEMPT	SUPPORT OF ROOM AT LIBRARY	6,200
BELHAVEN COLLEGE ATTN V HENDERSON/CAMPUS BOX 172 JACKSON,MS39202	NONE	EXEMPT	FOR SCHOLARSHIPS	123,992
Total ................................. 3a				619,960

bApproved for future payment

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

Form 990-PF (2011)

Page 11

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3Interest on savings and temporary cash investments			14	104
4 Dividends and interest from securities....			14	361,746
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6Net rental income or (loss) from personal property
7 Other investment income.....
8Gain or (loss) from sales of assets other than inventory			18	60,878
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)..				422,728

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

13422,728

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2011)

Page 12

Part XVII

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

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

Yes

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

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If “Yes,” complete the following schedule.

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

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

	Signature of officer or trustee	Date	Title

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

Form 990-PF (2011)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AT&T INC 5.6% 5/15/2018	31,008	36,020
CVS/CAREMARK 6.125% 9/15/39	30,492	36,506
CATERPILLAR 7.9% 12/15/18	24,958	33,283
COMCAST CORP 5.7% 7/01/19	31,343	35,963
CONOCOPHILLIPS 6.5% 2/01/39
CREDIT SUISSE 5.5% 5/01/2014	65,759	64,444
GENERAL ELECTRIC 5% 2/01/13
GOLDMAN SACHS 6% 5/01/2014	32,675	33,328
HESS CORP 8.125% 2/15/19	29,800	32,092
JP MORGAN CHASE 6.3% 4/23/19	31,738	36,244
MCDONALDS CORP 5.35% 3/01/18
MERRILL LYNCH 6.875% 4/25/18	30,887	30,564
MORGAN STANLEY 5.625% 9/23/19	33,111	30,561
ORACLE CORP 5.75% 4/15/18	27,987	33,977
PETROBRAS 5.75% 1/20/20	64,984	67,418
PFIZER INC 4.45% 3/15/12
SUNTRUST BKS 3.5% 1/20/17	34,010	34,175
TALISMAN ENERGY 7.75% 6/1/19	32,798	34,526
TARGET CORP 5.375% 5/1/17	29,055	35,258
TIME WARNER CABLE 6.75% 7/1/18	30,687	33,256
TRAVELERS COMP 6.25% 6/15/37
VERIZON COMM 5.55% 2/15/16
WACHOVIA 5.75% 6/15/17	31,370	35,025
PRUDENTIAL FIN 4.5% 11/15/20	34,770	35,194
MERRILL LYNCH 6.11% 1/29/37	32,879	26,983
KRAFT FOODS INC 4.125% 2/9/16	31,043	33,658
HEWLETT-PACKARD 2.2% 12/1/15	28,974	28,320
GOLDMAN SACHS 7.5% 2/15/19	32,941	33,132
DIRECTV HLDGS 3.55% 3/15/15	35,235	35,390
CITIGROUP INC 6% 12/13/13	32,730	31,043
CA INC 5.375% 12/1/19	32,673	34,905
CSX CORP 6.25% 4/1/15	34,738	35,421
BARCLAYS BANK 3.9% 4/7/15	33,043	33,141
BB&T CORP 3.85%
FHLM #G11769 5% 10/1/20
FHLM #G12335 5% 5/1/21
FHLM #G12559 5% 9/1/21
FHLM #G12593 5% 9/1/21
FHLM #J05840 5% 1/1/21
FNMA #725424 5.5% 4/1/34	117,249	128,755
FNMA #725598 5.5% 7/1/34	17,603	19,405
FNMA #745079 5% 12/1/20	61,417	68,724
FNMA #847931 5% 12/1/20	9,976	10,858
FNMA #852029 6% 1/1/36	19,318	21,075
FNMA #888029 6% 12/1/36	54,523	59,700
FNMA #888677 5.5% 8/1/22	39,352	42,883
FNMA #938134 6% 7/1/37	41,496	45,264
FNMA #959596 6% 11/1/37	48,125	52,674
DODGE & COX INC #147	531,000	549,875
PIMCO LOW DURATION #36	295,600	291,353
PIMCO TOTAL RETURN #35	525,000	527,687
PIONEER BOND FD CL Y #703	150,000	161,081
PIONEER SH TRM INC FD CL Y#755	150,000	150,652
VANGUARD SH TRM BD FD #132	50,000	50,961
FNMA POOL 4% 3/1/26	51,308	51,581
FNMA POOL 4.5% 6/1/41	30,338	30,534
FNMA POOL 5% 6/1/35	53,912	54,055
FNMA POOL 3.5% 9/1/25	50,494	50,940
AFLAC INC 8.5% 5/15/19	32,211	31,864
AMERICAN EXP CRD 2.75% 9/15/15	31,625	31,164
ANHEUSER-BUSCH 2.875% 2/15/16	34,189	35,875
DUKE ENERGY 2.15% 11/15/16	31,024	31,088
GENERAL ELEC CAP 5.3% 2/11/21	33,295	35,275
GENERAL ELEC CAP 5.875%1/14/38	35,134	36,026
INTEL CORP 3.3% 10/1/21	31,885	33,710
MORGAN STANLEY 4.2% 11/20/14	34,520	31,827
ONTARIO PROV OF 1.375% 1/27/14	69,021	69,722
PFIZER INC 6.2% 3/15/19	32,559	35,783
TELEFONICA EMIS 5.462% 2/16/21	35,534	33,399
TEVA PHARMA FIN 1.7% 11/10/14	32,015	32,247
TOYOTA MOTOR CRD 3.4% 9/15/21	31,919	32,979
VERIZON COMM 6% 4/1/41	27,815	34,716

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABS	114,828	120,332
ALLERGAN	95,498	159,687
AMERICAN EXPRESS	95,309	160,850
CVS/CAREMARK	144,633	150,886
CHEVRON	70,196	159,600
CISCO	99,492	105,587
DELL INC	194,745	98,460
WALT DISNEY	99,007	150,000
E M C CORP	100,084	172,320
EATON CORP	94,053	161,932
EMERSON ELECTRIC CO	44,200	46,590
EXELON CORP	178,092	106,690
EXXON MOBIL	118,849	122,054
GOLMAN SACHS	155,743	85,909
HALLIBURTON	170,087	120,785
INTEL	151,683	169,750
JP MORGAN CHASE	129,380	116,375
JOHNSON & JOHNSON	28,990	160,671
JUNIPER NETWORKS	77,217	61,230
MICROSOFT	78,010	129,800
NORFOLK	161,111	182,150
ORACLE	137,101	153,900
PEPSICO	89,713	132,700
PHILIP MORRIS INTL	95,168	160,099
PROCTOR & GAMBLE	113,253	140,091
PRUDENTIAL FINANCIAL	191,739	103,498
QUALCOMM	120,301	183,245
ROBERT HALF
SCHLUMBERGER	62,318	102,465
STRYKER	105,456	122,287
THERMO FISHER SCIENTIFIC	152,604	116,922
3M	95,125	112,787
TIFFANY & CO
TRAVELERS	92,855	159,759
UNITED TECHNOLOGIES	94,029	130,831
VERIZON COMM	106,093	135,004
WAL MART	145,942	182,866
WALGREENS	149,889	121,661
TEVA PHARMASEUTICAL	89,931	83,545
APACHE CORP	80,232	72,464
BANK OF AMERICA CORP
CATERPILLAR INC	75,744	108,720
FRONTIER COMM CORP
GENERAL ELECTRIC CO	69,464	68,058
MCGRAW HILL INC	78,518	98,934
MONSANTO CO NEW	71,338	70,070
STAPLES INC	77,847	45,837
STATE STREET CORP	68,265	60,465
VF CORP	71,955	114,291
VISA INC-CL A SHRS	72,776	81,224
ISHARES MIDCAP INDEX FD	777,999	933,907
ISHARES RUSSELL 2000	299,055	389,990
ISHARES S&P SMALL CAP 600	230,152	307,350
ISHARES MSCI EAFE INDEX FUND	403,765	416,745
MFS RESH INTL FD CL I	100,000	109,402
THORNBURG INTL VALUE CL I #209	100,000	109,488
HASBRO INC	73,392	63,780
HESS CORP	87,447	85,200

Category	Amount	Net Investment Income
FOREIGN TAXES	223	223
FEDERAL TAX PAYMENT - PRIOR YE	255	0
FEDERAL ESTIMATES - PRINCIPAL	3,584	0
FOREIGN TAXES ON QUALIFIED FOR	1,479	1,479
FOREIGN TAXES ON NONQUALIFIED	81	81