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
ROGER & VIOLET NOREEN CHAR TRUST 25293360

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 64713 TRUST TAX SERVICES Room/suite

City or town, state, and ZIP code
ST PAUL, MN551640713

A Employer identification number

41-6309355

B Telephone number (see page 10 of the instructions)

(651) 466-8722

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

$5,066,406J 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
4	Dividends and interest from securities......	165,636		165,636
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		179,770
b	Gross sales price for all assets on line 6a 2,662,728
7	Capital gain net income (from Part IV, line 2)...			179,770
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).......		3,678	3,532
12	Total. Add lines 1 through 11........	349,084		348,938
13	Compensation of officers, directors, trustees, etc.	82,953		65,912		17,041
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).......
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see page 14 of the instructions)		4,698	2,967		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).......		489	464		25
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	88,140		69,343	0	17,066
25	Contributions, gifts, grants paid........	292,750				292,750
26	Total expenses and disbursements. Add lines 24 and 25	380,890		69,343	0	309,816
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-31,806
b	Net investment income (if negative, enter -0-)			279,595
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...............		722	722
	2	Savings and temporary cash investments..........	137,788	246,175	246,175
	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)
	b	Investments—corporate stock (attach schedule)........	2,475,448	2,638,005	2,781,418
	c	Investments—corporate bonds (attach schedule)........	2,287,056	1,987,999	2,033,979
	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 )	8,513	4,112	4,112
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	4,908,805	4,877,013	5,066,406
	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 )	47	65
	23	Total liabilities (add lines 17 through 22)..........	47	65
		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.........	6,144,554	6,144,554
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds	-1,235,796	-1,267,606
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................	4,908,758	4,876,948
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	4,908,805	4,877,013

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	4,908,758
2	Enter amount from Part I, line 27a.....................	2	-31,806
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	4,876,952
5	Decreases not included in line 2 (itemize)	5	4
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	4,876,948

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.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	176. HEWLETT PACKARD CO		2007-06-15	2011-01-04
b	19. MASTERCARD INC		2009-07-10	2011-01-04
c	8. TELEFONICA SA SPON A D R		2010-03-05	2011-01-10
d	121. TELEFONICA SA SPON A D R		2009-09-11	2011-01-10
e	197. ROCHE HLDG LTD A D R		2009-09-11	2011-01-14
	8. ROCHE HLDG LTD A D R		2010-03-05	2011-01-14
	136. COMPANHIA DE BEBIDAS P R A D R		2008-06-10	2011-01-19
	10. APACHE CORP		2009-10-02	2011-01-27
	22. HESS CORP		2009-03-24	2011-01-27
	219. JOHNSON JOHNSON		2009-04-29	2011-01-27
	16. OCCIDENTAL PETROLEUM CORPORATION		2009-04-13	2011-01-27
	50. PACCAR INC		2009-10-26	2011-01-27
	36. PARKER HANNIFIN CORP		2010-08-13	2011-01-27
	433. UNILEVER PLC SPSD ADR		2009-09-11	2011-01-31
	16. UNILEVER PLC SPSD ADR		2010-03-05	2011-01-31
	27. ABBOTT LABORATORIES		2010-06-22	2011-02-07
	11. AVALONBAY CMNTYS INC		2009-01-14	2011-02-07
	12. CATERPILLAR INC		2009-11-11	2011-02-07
	13. INTERNATIONAL BUSINESS MACHINES CORP		2007-06-08	2011-02-07
	17. KELLOGG CO		2010-03-08	2011-02-07
	44. KELLOGG CO		2009-12-01	2011-02-07
	51. NORTHERN TR CORP		2009-01-14	2011-02-07
	16. WASTE MGMT INC		2009-04-23	2011-02-07
	192. AVON PRODS INC		2009-11-17	2011-02-08
	81. 3M CO		2010-08-11	2011-02-08
	7. ABBOTT LABORATORIES		2010-06-22	2011-02-16
	7. ABBOTT LABORATORIES		2007-06-08	2011-02-16
	62. FOMENTO ECONOMICO MEX SP A D R		2007-06-08	2011-02-16
	15. HEWLETT PACKARD CO		2007-06-08	2011-02-16
	157. INTEL CORP		2009-09-09	2011-02-16
	14. KIMBERLY CLARK CORP		2010-08-25	2011-02-16
	56. PUBLIC SVC ENTERPRISE GROUP INC		2010-07-29	2011-02-16
	63. ROGERS COMMUNICATIONS INC CL B		2010-02-02	2011-02-16
	38. TRAVELERS COS INC		2008-02-14	2011-02-16
	45. VORNADO REALTY TRUST		2009-10-20	2011-02-16
	25. AFLAC INC		2007-06-08	2011-02-17
	16. BUCKLE INC		2010-01-14	2011-02-17
	5. CHEVRON CORPORATION		2007-11-15	2011-02-17
	10. DOMINION RESOURCES INC		2009-02-18	2011-02-17
	174. ECOLAB INC		2007-06-08	2011-02-17
	7. INTEL CORP		2011-02-15	2011-02-17
	13. INTERNATIONAL BUSINESS MACHINES CORP		2010-02-04	2011-02-17
	51. KINDER MORGAN MANAGEMENT L L C		2009-08-14	2011-02-17
	13. LINEAR TECHNOLOGY CORP		2010-06-29	2011-02-17
	27. MCCORMICK CO INC		2007-06-08	2011-02-17
	9. MCGRAW HILL COMPANIES INC		2008-05-22	2011-02-17
	20. ONEOK INC		2010-12-16	2011-02-17
	36. T ROWE PRICE GROUP INC		2008-02-22	2011-02-17
	16. TUPPERWARE BRANDS CORP		2010-12-07	2011-02-17
	8. UNITED TECHNOLOGIES CORP		2007-06-08	2011-02-17
	29. XILINX INC		2010-06-29	2011-02-17
	325. BANCO BRADESCO A D R			2011-02-24
	16. DESARROLLADORA HOMEX A D R		2010-03-05	2011-02-25
	369. DESARROLLADORA HOMEX A D R		2010-02-16	2011-02-25
	35. KIMBERLY CLARK CORP		2010-06-01	2011-02-25
	24. WAL MART STORES INC		2010-09-27	2011-02-25
	55. TYCO INTERNATIONAL LTD		2009-10-26	2011-02-25
	115. WAL MART STORES INC		2008-12-10	2011-02-28
	370. TURKCELL ILETISIM HIZMET A D R		2009-09-11	2011-03-10
	250000. SBC COMMUNICATIONS 6.250% 3/15/11		2001-05-04	2011-03-15
	40. AMERICAN ELECTRIC POWER CO INC		2009-04-17	2011-03-16
	24. CATERPILLAR INC		2009-11-11	2011-03-16
	23. MERCK AND CO INC NEW		2010-08-13	2011-03-16
	39. P G E CORP		2009-10-20	2011-03-16
	114. STAPLES INC		2008-03-18	2011-03-16
	8. COVIDIEN PLC		2009-01-14	2011-03-16
	244. AECOM TECHNOLOGY CORP		2009-07-10	2011-03-22
	271. CENTRAL EUROPEAN DISTRIBUTION CORP		2010-03-05	2011-03-24
	250. GLAXO SMITHKLINE P L C A D R		2010-03-05	2011-03-24
	90. BEST BUY CO INC		2009-06-26	2011-03-25
	32. CISCO SYS INC		2011-02-07	2011-03-25
	113. CISCO SYS INC		2008-11-21	2011-03-25
	98. DOLBY LABORATORIES INC CL A		2009-01-28	2011-03-31
	200. VIVO PARTICIPACOES S A A D R		2011-01-10	2011-03-31
	26. CONOCOPHILLIPS		2010-04-22	2011-04-06
	98. HEWLETT PACKARD CO		2008-02-14	2011-04-06
	7. HUNTINGTON INGALLS INDUSTRIE		2011-02-25	2011-04-06
	49. RESEARCH IN MOTION		2011-01-04	2011-04-06
	35. TARGET CORPORATION		2011-02-25	2011-04-06
	8. TARGET CORPORATION		2009-08-03	2011-04-06
	160. ABB LTD A D R		2007-11-07	2011-04-11
	100. ABB LTD A D R		2007-06-15	2011-04-11
	47. AFLAC INC		2007-06-08	2011-04-11
	39. AFLAC INC		2010-12-22	2011-04-11
	27. AGCO CORP		2007-12-04	2011-04-11
	16. ATT INC		2008-05-15	2011-04-11
	126. ABBOTT LABORATORIES		2007-06-08	2011-04-11
	11. ABBOTT LABORATORIES		2007-06-08	2011-04-11
	57. AGRIUM INC		2010-03-05	2011-04-11
	8. AIR PRODS CHEMICALS INC		2008-10-08	2011-04-11
	22. ALLERGAN INC		2010-04-09	2011-04-11
	142. ALLIANZ SE A D R		2011-02-25	2011-04-11
	6. AMAZON COM INC		2011-02-08	2011-04-11
	3171.247 AMERICAN CENTY INTL BOND FD INSTL		2009-10-29	2011-04-11
	2730.748 AMERICAN CENTY VISTA FUND INSTL CL		2008-09-19	2011-04-11
	14. AMERICAN ELECTRIC POWER CO INC		2009-04-17	2011-04-11
	23. AMERICAN EXPRESS CO		2009-08-26	2011-04-11
	15. AMERIPRISE FINL INC		2010-04-05	2011-04-11
	6. AMERIPRISE FINL INC		2011-02-16	2011-04-11
	8. AMGEN INC		2010-06-22	2011-04-11
	28. ANADARKO PETROLEUM CORP		2011-02-17	2011-04-11
	93. ANGLO AMERICAN PLC A D R		2007-06-08	2011-04-11
	31. ANHEUSER BUSCH INBEV NV A D R		2010-10-15	2011-04-11
	8. APACHE CORP		2010-02-26	2011-04-11
	9. APPLE INC		2007-06-08	2011-04-11
	77. ASTRAZENECA P L C SPSD A D R		2009-08-13	2011-04-11
	139. ATLAS COPCO AB A D R CL B		2007-07-19	2011-04-11
	4. AVALONBAY CMNTYS INC		2009-01-14	2011-04-11
	54. B A S F A G A D R		2010-03-10	2011-04-11
	5. B A S F A G A D R		2011-04-06	2011-04-11
	24. B H P BILLITON PLC SPSD A D R		2010-11-08	2011-04-11
	95. B N P PARIBAS S A A D R		2010-05-11	2011-04-11
	131. B T GROUP P L C A D R		2010-12-10	2011-04-11
	94. BANCO BRADESCO A D R		2010-09-10	2011-04-11
	15. BANK OF AMERICA CORP		2009-11-11	2011-04-11
	141. BARCLAYS PLC A D R		2009-09-11	2011-04-11
	154. BAYERISCHE MOTOREN WERKE UNSPN A D R		2010-11-08	2011-04-11
	48. BECTON DICKINSON AND CO		2007-11-02	2011-04-11
	6. B H P BILLITON LIMITED A D R		2008-12-23	2011-04-11
	40. BOC HONG KONG HLDGS LTD A D R		2010-03-05	2011-04-11
	5. BOEING CO		2010-01-22	2011-04-11
	23. BORG WARNER INC		2010-06-23	2011-04-11
	4. BOSTON PPTYS INC		2011-02-16	2011-04-11
	100. BRITISH AMERN TOB PLC ADR		2008-03-19	2011-04-11
	25. BROADCOM CORP CL A		2011-02-08	2011-04-11
	123. BUCKLE INC		2010-01-14	2011-04-11
	11. CNOOC LTD A D R		2010-03-10	2011-04-11
	6. CNOOC LTD A D R		2010-06-23	2011-04-11
	16. CVS CAREMARK CORP		2010-06-14	2011-04-11
	19. CAMERON INTL CORP		2007-06-15	2011-04-11
	81. CANON INC SPONS A D R		2010-05-10	2011-04-11
	10. CARNIVAL CORP		2010-11-01	2011-04-11
	34. CARNIVAL CORP		2009-08-26	2011-04-11
	12. CATERPILLAR INC		2010-12-06	2011-04-11
	24. CELGENE CORP		2010-04-09	2011-04-11
	83. CENTRICA PLC A D R		2010-09-17	2011-04-11
	20. CERNER CORPORATION		2007-06-08	2011-04-11
	47. CHEVRON CORPORATION		2007-11-27	2011-04-11
	68. CISCO SYS INC		2006-12-28	2011-04-11
	186. CITIGROUP INC		2011-02-16	2011-04-11
	33. COGNIZANT TECH SOLUTIONS CL A		2007-06-08	2011-04-11
	50. COLGATE PALMOLIVE CO		2009-01-14	2011-04-11
	112. COMPANHIA DE BEBIDAS P R A D R		2008-06-10	2011-04-11
	16. CONOCOPHILLIPS		2010-04-22	2011-04-11
	30. CORNING INC		2010-07-12	2011-04-11
	100. DBS GROUP HLDGS LTD		2007-06-08	2011-04-11
	32. DANAHER CORP		2007-06-08	2011-04-11
	11. DISNEY WALT CO		2010-03-08	2011-04-11
	18. DISNEY WALT CO		2011-02-28	2011-04-11
	41. DIRECTV CL A		2008-07-29	2011-04-11
	80. DOMINION RESOURCES INC		2009-02-18	2011-04-11
	35. DOVER CORP		2010-03-04	2011-04-11
	57. E M C CORPORATION		2011-02-08	2011-04-11
	20. E M C CORPORATION		2010-10-04	2011-04-11
	41. E BAY INC		2011-03-22	2011-04-11
	88. ECOLAB INC		2011-02-17	2011-04-11
	110. ERICSSON (LM)TEL SP A D R		2009-06-18	2011-04-11
	36. EXPRESS SCRIPTS INC		2007-12-17	2011-04-11
	14. EXXON MOBIL CORP		2008-10-20	2011-04-11
	16. FED EX CORP		2010-08-11	2011-04-11
	10. FIFTH THIRD BANCORP		2009-08-11	2011-04-11
	29. FIFTH THIRD BANCORP		2011-01-27	2011-04-11
	10. FLUOR CORP		2011-03-31	2011-04-11
	14. FLOWSERVE CORP		2008-05-20	2011-04-11
	104. FOCUS MEDIA HOLDING A D R		2010-06-09	2011-04-11
	37. FOMENTO ECONOMICO MEX SP A D R		2010-03-05	2011-04-11
	13. FREEPORT MCMORAN COPPER GOLD		2010-02-26	2011-04-11
	116. FUJIFILM HOLDINGS A D R		2010-04-23	2011-04-11
	40. FUJIFILM HOLDINGS A D R		2010-03-05	2011-04-11
	39. GENERAL DYNAMICS CORP		2009-11-20	2011-04-11
	2. GENERAL DYNAMICS CORP		2011-02-17	2011-04-11
	18. GENERAL DYNAMICS CORP		2009-10-20	2011-04-11
	6. GOLDMAN SACHS GROUP INC		2011-02-16	2011-04-11
	4. GOOGLE INC CL A		2011-01-04	2011-04-11
	35. HSBC HOLDINGS PLC SPONS A D R		2010-10-12	2011-04-11
	9. HSBC HOLDINGS PLC SPONS A D R		2011-04-06	2011-04-11
	60. HALLIBURTON CO		2007-06-08	2011-04-11
	9. HALLIBURTON CO		2011-04-06	2011-04-11
	17. HESS CORP		2011-01-19	2011-04-11
	12. HESS CORP		2009-03-24	2011-04-11
	35. HITACHI LTD ADR 10 COM		2011-03-24	2011-04-11
	82. HONDA MOTOR CO LTD A D R		2010-03-05	2011-04-11
	5. HUMANA INC		2011-03-16	2011-04-11
	50. ILLINOIS TOOL WORKS		2008-07-24	2011-04-11
	14. ILLINOIS TOOL WORKS		2011-02-17	2011-04-11
	12. ILLINOIS TOOL WORKS		2011-01-27	2011-04-11
	373. INFINEON TECHNOLOGIES A G A D R		2011-02-01	2011-04-11
	357. INTEL CORP		2007-06-08	2011-04-11
	84. INTEL CORP		2011-02-15	2011-04-11
	96. INTERCONTINENTAL HTLS GRP PLSPONS		2010-08-06	2011-04-11
	29. INTERNATIONAL BUSINESS MACHINES CORP		2010-02-04	2011-04-11
	16. INTERNATIONAL BUSINESS MACHINES CORP		2007-01-25	2011-04-11
	4. INTERNATIONAL BUSINESS MACHINES CORP		2007-06-08	2011-04-11
	4. ISHARES DOW JONES REGIONAL BK IN FD		2010-03-22	2011-04-11
	31. J P MORGAN CHASE CO		2008-07-17	2011-04-11
	35. JACOBS ENGR GROUP INC		2007-06-08	2011-04-11
	7. JOHNSON JOHNSON		2010-04-14	2011-04-11
	479. KEPPEL CORP LTD SPONS A D R		2007-06-08	2011-04-11
	63. KEYCORP NEW		2011-02-16	2011-04-11
	76. KINDER MORGAN MANAGEMENT L L C		2008-06-26	2011-04-11
	7. KOHLS CORP		2011-04-06	2011-04-11
	11. L3 COMMUNICATIONS HLDGS INC		2010-02-16	2011-04-11
	32. L3 COMMUNICATIONS HLDGS INC		2011-02-17	2011-04-11
	44. LVMH MOET HENNESSY LOU VUITT A D R		2010-11-09	2011-04-11
	18. LINCOLN NATL CORP IND		2011-02-16	2011-04-11
	3. LINCOLN NATL CORP IND		2009-08-11	2011-04-11
	55. LINEAR TECHNOLOGY CORP		2010-06-29	2011-04-11
	41. LUBRIZOL CORP		2010-12-07	2011-04-11
	86. MCCORMICK CO INC		2007-06-08	2011-04-11
	48. MCDONALDS CORP		2008-10-08	2011-04-11
	20. MCDONALDS CORP		2007-06-08	2011-04-11
	13. MCDONALDS CORP		2010-01-07	2011-04-11
	64. MCGRAW HILL COMPANIES INC		2008-05-22	2011-04-11
	92. MEDTRONIC INC		2008-09-17	2011-04-11
	22. MERCK AND CO INC NEW		2010-08-13	2011-04-11
	49. MICROSOFT CORP		2007-06-08	2011-04-11
	66. MICROSOFT CORP		2011-02-17	2011-04-11
	23. MICROSOFT CORP		2011-02-07	2011-04-11
	13. MITSUI & CO LTD SPSD ADR		2009-12-10	2011-04-11
	6. NATIONAL GRID PLC SP A D R		2010-09-14	2011-04-11
	134. NESTLE SA SPONSORED A D R		2010-03-05	2011-04-11
	16. NESTLE SA SPONSORED A D R		2007-06-08	2011-04-11
	1990.05 NEUBERGER BERMAN GENESIS INSTL FD		2008-09-19	2011-04-11
	69. NEXTERA ENERGY INC		2009-04-29	2011-04-11
	9. NIKE INC		2009-10-07	2011-04-11
	198. NISSAN MTR LTD SPONSORED ADR		2010-12-15	2011-04-11
	5. NORTHROP GRUMMAN CORPORATION		2011-01-27	2011-04-11
	104. NOVARTIS AG A D R		2010-03-05	2011-04-11
	7540.005 NUVEEN SHORT TERM BOND FUND CL I		2009-11-17	2011-04-11
	12. OCCIDENTAL PETROLEUM CORPORATION		2009-04-13	2011-04-11
	62. ONEOK INC		2010-12-16	2011-04-11
	18. ORACLE CORPORATION		2009-04-01	2011-04-11
	66. ORACLE CORPORATION		2010-02-23	2011-04-11
	49. ORIX CORP SPONS A D R		2010-03-05	2011-04-11
	11. P G E CORP		2009-10-20	2011-04-11
	5499.542 PIMCO TOTAL RETURN FUND INST		2009-10-29	2011-04-11
	13. P N C FINANCIAL SERVICES GROUP INC		2009-04-30	2011-04-11
	20. PEABODY ENERGY CORP		2010-01-07	2011-04-11
	70. PEPSICO INC		2007-07-19	2011-04-11
	32. PEPSICO INC		2007-06-08	2011-04-11
	120. PETROLEO BRASILEIRO SPON A D R		2010-03-05	2011-04-11
	20. PETROLEO BRASILEIRO S A A D R		2009-05-21	2011-04-11
	63. PFIZER INC		2008-10-28	2011-04-11
	25. PIONEER NAT RES CO		2011-02-17	2011-04-11
	8. POLO RALPH LAUREN CORP		2010-11-01	2011-04-11
	48. PRAXAIR INC		2007-06-08	2011-04-11
	24. PRAXAIR INC		2007-06-08	2011-04-11
	37. PRECISION DRILLING TRUST		2011-01-18	2011-04-11
	45. T ROWE PRICE GROUP INC		2008-02-22	2011-04-11
	37. T ROWE PRICE GROUP INC		2008-08-20	2011-04-11
	5. PRICELINE COM INC		2009-01-22	2011-04-11
	19. PROCTER & GAMBLE CO		2011-02-17	2011-04-11
	33. PROCTER & GAMBLE CO		2007-06-08	2011-04-11
	24. PRUDENTIAL FINANCIAL INC		2009-05-18	2011-04-11
	162. RED HAT INC		2009-03-04	2011-04-11
	58. REPSOL YPF, S.A.		2011-02-25	2011-04-11
	13. REYNOLDS AMERICAN INC		2011-02-25	2011-04-11
	1992.032 ROWE T PRICE MID-CAP VALUE FD INC		2008-09-19	2011-04-11
	27. ROYAL DUTCH SHELL PLC A D R		2010-11-22	2011-04-11
	155. KONINKLIJKE (ROYAL) KPN NV SP ADR		2010-03-05	2011-04-11
	118. SANOFI A D R		2009-03-02	2011-04-11
	62. SANOFI A D R		2010-03-05	2011-04-11
	33. SCHEIN HENRY INC		2007-06-08	2011-04-11
	19. SCHLUMBERGER LTD		2011-02-17	2011-04-11
	2. SEMPRA ENERGY		2010-05-04	2011-04-11
	25. SIEMENS AG A D R		2010-09-28	2011-04-11
	4. SIMON PROPERTY GROUP INC		2011-02-16	2011-04-11
	299. SOCIETE GENERALE FRANCE SPONSOR ADR		2009-10-15	2011-04-11
	118. SONY CORP A D R		2011-01-14	2011-04-11
	13. TJX COMPANIES INC		2010-02-26	2011-04-11
	10. TARGET CORPORATION		2009-08-03	2011-04-11
	56. TEXAS INSTRUMENTS INC		2007-06-08	2011-04-11
	6. THERMO FISHER SCIENTIFIC INC		2008-12-16	2011-04-11
	22. THERMO FISHER SCIENTIFIC INC		2008-03-10	2011-04-11
	299. THOMPSON CREEK METALS CO INC		2010-03-05	2011-04-11
	6. TIME WARNER CABLE INC		2011-04-06	2011-04-11
	104. TOKIO MARINE HOLDINGS A D R		2009-09-11	2011-04-11
	78. TOTAL S A A D R		2007-06-08	2011-04-11
	76. TUPPERWARE BRANDS CORP		2010-12-07	2011-04-11
	142. TURKCELL ILETISIM HIZMET A D R		2007-06-08	2011-04-11
	27. UNION PACIFIC CORP		2008-11-06	2011-04-11
	9. UNION PACIFIC CORP		2009-11-11	2011-04-11
	8. UNITED STATES STEEL CORP		2009-11-11	2011-04-11
	43. UNITED TECHNOLOGIES CORP		2007-06-08	2011-04-11
	10. UNITED TECHNOLOGIES CORP		2008-06-30	2011-04-11
	5. UNITED HEALTH GROUP INCORPORATED		2009-03-11	2011-04-11
	53. V F CORP		2008-01-14	2011-04-11
	351. VALE SA SP A D R		2010-03-05	2011-04-11
	41. VARIAN MED SYS INC		2008-08-06	2011-04-11
	14. VERIZON COMMUNICATIONS INC		2006-07-14	2011-04-11
	10. VISA INC CLASS A SHARES		2009-04-24	2011-04-11
	138. VODAFONE GROUP PLC A D R		2011-03-10	2011-04-11
	25. VODAFONE GROUP PLC A D R		2011-02-16	2011-04-11
	82. VOLVO AB SPONSORED A D R		2010-09-28	2011-04-11
	186. VOLVO AB SPONSORED A D R		2011-02-16	2011-04-11
	22. WAL MART STORES INC		2011-02-17	2011-04-11
	38. WAL MART STORES INC		2009-04-29	2011-04-11
	17. WAL MART STORES INC		2008-01-04	2011-04-11
	8. WASTE MGMT INC		2009-04-23	2011-04-11
	10. WELLS FARGO CO		2009-01-14	2011-04-11
	57. XILINX INC		2010-06-29	2011-04-11
	69. ZURICH FINANCIAL SVCS A D R		2010-03-05	2011-04-11
	40. ACCENTURE PLC CL A		2008-05-07	2011-04-11
	6. ACCENTURE PLC CL A		2010-04-22	2011-04-11
	9. COVIDIEN PLC		2009-01-14	2011-04-11
	99. UBS AG REG		2010-08-27	2011-04-11
	.5 HUNTINGTON INGALLS INDUSTRIE		2011-02-25	2011-04-13
	231. BANCO BRADESCO A D R		2010-09-10	2011-04-14
	719. THOMPSON CREEK METALS CO INC		2009-11-10	2011-04-14
	131. SWISS REINSURANCE CO SPSD ADR		2010-03-05	2011-04-20
	157. AFLAC INC		2009-11-25	2011-04-25
	121. ABBOTT LABORATORIES		2007-06-08	2011-04-25
	99. BECTON DICKINSON AND CO		2007-11-02	2011-04-25
	5. BECTON DICKINSON AND CO		2011-02-17	2011-04-25
	192. BUCKLE INC		2009-12-07	2011-04-25
	29. CHEVRON CORPORATION		2007-11-27	2011-04-25
	76. COLGATE PALMOLIVE CO		2009-01-14	2011-04-25
	28. COLGATE PALMOLIVE CO		2011-02-17	2011-04-25
	193. DOMINION RESOURCES INC		2009-02-18	2011-04-25
	166. ECOLAB INC		2011-02-17	2011-04-25
	45. GENERAL DYNAMICS CORP		2009-11-20	2011-04-25
	156. ILLINOIS TOOL WORKS		2008-07-24	2011-04-25
	282. INTEL CORP		2011-02-15	2011-04-25
	35. INTERNATIONAL BUSINESS MACHINES CORP		2009-07-01	2011-04-25
	2. KINDER MORGAN MANAGEMENT L L C		2010-12-07	2011-04-25
	169. KINDER MORGAN MANAGEMENT L L C		2009-04-29	2011-04-25
	107. L3 COMMUNICATIONS HLDGS INC		2010-02-16	2011-04-25
	171. LINEAR TECHNOLOGY CORP		2010-06-29	2011-04-25
	63. LUBRIZOL CORP		2010-12-07	2011-04-25
	177. MCCORMICK CO INC		2008-11-26	2011-04-25
	111. MCDONALDS CORP		2008-10-08	2011-04-25
	146. MCGRAW HILL COMPANIES INC		2008-05-22	2011-04-25
	178. MEDTRONIC INC		2008-09-17	2011-04-25
	32. MEDTRONIC INC		2011-02-17	2011-04-25
	116. MICROSOFT CORP		2007-06-08	2011-04-25
	119. NEXTERA ENERGY INC		2009-04-29	2011-04-25
	34. NEXTERA ENERGY INC		2011-02-17	2011-04-25
	131. ONEOK INC		2010-12-16	2011-04-25
	30. PEPSICO INC		2011-02-17	2011-04-25
	120. PEPSICO INC		2009-04-29	2011-04-25
	91. PRAXAIR INC		2007-06-08	2011-04-25
	6. PRAXAIR INC		2011-02-17	2011-04-25
	126. T ROWE PRICE GROUP INC		2008-02-22	2011-04-25
	136. PROCTER & GAMBLE CO		2009-04-29	2011-04-25
	136. SANOFI A D R		2009-03-02	2011-04-25
	91. SANOFI A D R		2011-02-17	2011-04-25
	144. TUPPERWARE BRANDS CORP		2010-12-07	2011-04-25
	100. UNITED TECHNOLOGIES CORP		2007-06-08	2011-04-25
	76. V F CORP		2008-01-14	2011-04-25
	9. V F CORP		2011-02-17	2011-04-25
	70. WAL MART STORES INC		2009-04-29	2011-04-25
	180. XILINX INC		2010-06-29	2011-04-25
	159. ERICSSON (LM)TEL SP A D R		2009-06-18	2011-04-29
	81. ISHARES DOW JONES REGIONAL BK IN FD		2010-03-22	2011-04-29
	39. PEABODY ENERGY CORP		2010-01-07	2011-04-29
	28. PRUDENTIAL FINANCIAL INC		2009-05-18	2011-04-29
	67. FED EX CORP		2010-08-11	2011-05-05
	165. BANK OF AMERICA CORP		2009-11-11	2011-05-10
	49. NESTLE SA SPONSORED A D R		2007-06-08	2011-05-10
	55. UNITED STATES STEEL CORP		2009-11-11	2011-05-10
	108. DIRECTV CL A		2008-07-29	2011-05-11
	56. T ROWE PRICE GROUP INC		2008-08-20	2011-05-11
	203. CENTRICA PLC A D R		2010-09-17	2011-05-12
	241. TAIWAN SEMICONDUCTOR A D R		2011-04-21	2011-05-19
	269. KEPPEL CORP LTD SPONS A D R		2007-06-08	2011-05-20
	.9 KEPPEL CORP LTD SPONS A D R		2007-06-08	2011-05-23
	.5 CITIGROUP INC		2011-02-16	2011-05-25
	37. PETROLEO BRASILEIRO S A A D R		2010-06-23	2011-05-26
	69. PETROLEO BRASILEIRO S A A D R		2009-05-21	2011-05-26
	13. FUJIFILM HOLDINGS A D R		2009-12-10	2011-06-01
	160. FUJIFILM HOLDINGS A D R		2009-12-10	2011-06-01
	49. VISA INC CLASS A SHARES		2009-04-24	2011-06-13
	337. COMPANHIA DE BEBIDAS P R A D R			2011-06-15
	133. LOGITECH INTL SA		2011-04-21	2011-06-15
	338. TURKCELL ILETISIM HIZMET A D R		2010-03-05	2011-06-17
	81. AUTOLIV INC		2011-04-25	2011-06-20
	218. MYLAN INC		2011-04-25	2011-06-20
	158. TEXAS INSTRUMENTS INC		2011-04-25	2011-06-20
	162. TE CONNECTIVITY LTD		2011-04-25	2011-06-20
	88. ABBOTT LABORATORIES		2009-04-23	2011-06-21
	28. AIR PRODS CHEMICALS INC		2008-10-08	2011-06-21
	11. AVALONBAY CMNTYS INC		2009-01-14	2011-06-21
	15. EXXON MOBIL CORP		2008-10-20	2011-06-21
	17. GENERAL DYNAMICS CORP		2009-10-20	2011-06-21
	139. KEYCORP NEW		2011-02-16	2011-06-21
	34. MERCK AND CO INC NEW		2008-09-08	2011-06-21
	16. NESTLE SA SPONSORED A D R		2007-06-08	2011-06-21
	21. WAL MART STORES INC		2008-01-04	2011-06-21
	63. WASTE MGMT INC		2009-04-23	2011-06-21
	360. CORNING INC		2010-07-12	2011-06-23
	298. CISCO SYS INC		2006-12-28	2011-07-11
	.7082 SANOFI A D R		2008-09-11	2011-07-12
	57. AGRIUM INC		2007-06-08	2011-07-15
	2505. IPATH DOW JONES UBS COMMODITY		2010-03-09	2011-07-21
	56. ALPHA NATURAL RESOURCES INC		2011-04-29	2011-08-10
	196. CITIGROUP INC		2011-05-10	2011-08-10
	7. INTERNATIONAL BUSINESS MACHINES CORP		2007-06-08	2011-08-10
	25. MCDONALDS CORP		2010-01-07	2011-08-10
	35. WAL MART STORES INC		2010-07-29	2011-08-10
	25. ACCENTURE PLC CL A		2011-06-21	2011-08-10
	71. TEVA PHARMACEUTICAL INDS LTD A D R		2011-04-21	2011-08-11
	149. SONY CORP A D R		2011-01-14	2011-08-16
	86. HESS CORP		2011-01-19	2011-08-17
	92. T ROWE PRICE GROUP INC		2007-06-08	2011-08-17
	2640. IPATH DOW JONES UBS COMMODITY		2009-07-23	2011-08-23
	31760.436 PIMCO TOTAL RETURN FUND INST		2009-10-29	2011-08-23
	76. AMERIPRISE FINL INC		2011-08-10	2011-08-25
	435. BANK OF AMERICA CORP		2009-06-04	2011-08-25
	9. GOLDMAN SACHS GROUP INC		2009-09-09	2011-08-25
	97. ILLINOIS TOOL WORKS		2011-03-16	2011-08-25
	52. LINCOLN NATL CORP IND		2011-01-27	2011-08-25
	40. NORTHROP GRUMMAN CORPORATION		2011-02-25	2011-08-25
	102. SUNTRUST BKS INC		2011-04-29	2011-08-25
	36. COGNIZANT TECH SOLUTIONS CL A		2007-06-08	2011-08-31
	65. TEXAS INSTRUMENTS INC		2007-06-08	2011-08-31
	27. WPP PLCSPONSORED A D R		2011-04-21	2011-09-02
	91. AMERIPRISE FINL INC		2011-04-25	2011-09-06
	36. EASTMAN CHEM CO		2011-04-25	2011-09-06
	126. ENDO PHARMACEUTICALS HOLDINGS INC		2011-04-25	2011-09-06
	102. MARATHON OIL CORPORATION		2011-04-25	2011-09-06
	131. NORTHEAST UTILS		2011-04-25	2011-09-06
	240. TECO ENERGY INC		2011-04-25	2011-09-06
	69. WHIRLPOOL CORP		2011-04-25	2011-09-06
	41. B A S F A G A D R		2011-04-06	2011-09-12
	69. HSBC HOLDINGS PLC SPONS A D R		2011-04-06	2011-09-12
	89. LINCOLN NATL CORP IND		2009-08-11	2011-09-12
	15. LINCOLN NATL CORP IND		2011-01-27	2011-09-12
	607. SOCIETE GENERALE FRANCE SPONSOR ADR		2010-09-15	2011-09-12
	116. SOCIETE GENERALE FRANCE SPONSOR ADR		2010-03-05	2011-09-12
	61. BAYER AG A D R		2011-05-20	2011-09-14
	27. CNOOC LTD A D R		2010-03-10	2011-09-22
	117. FOCUS MEDIA HOLDING A D R		2010-06-09	2011-09-22
	240. B N P PARIBAS S A A D R		2010-05-11	2011-09-23
	74. ANNALY CAP MGMT INC		2011-04-25	2011-09-30
	5. APPLE INC		2011-04-25	2011-09-30
	11. BCE INC		2011-04-25	2011-09-30
	9. BRISTOL MYERS SQUIBB CO		2011-09-06	2011-09-30
	9. CARDINAL HEALTH INC		2011-04-25	2011-09-30
	5. CHEVRON CORPORATION		2007-11-27	2011-09-30
	79. DOVER CORP		2011-04-25	2011-09-30
	6. EXXON MOBIL CORP		2011-04-25	2011-09-30
	63. FREEPORT MCMORAN COPPER GOLD		2011-04-25	2011-09-30
	70. GENERAL DYNAMICS CORP		2009-04-07	2011-09-30
	2. HORMEL FOODS CORP		2011-04-25	2011-09-30
	37. INTEL CORP		2011-06-20	2011-09-30
	8. INTERNATIONAL BUSINESS MACHINES CORP		2009-07-01	2011-09-30
	42. MACYS INC		2011-04-25	2011-09-30
	20. MATTEL INC		2011-06-20	2011-09-30
	30. MICROSOFT CORP		2007-06-08	2011-09-30
	6. ORACLE CORPORATION		2011-04-25	2011-09-30
	5. P N C FINANCIAL SERVICES GROUP INC		2011-04-25	2011-09-30
	15. ROSS STORES INC		2011-04-25	2011-09-30
	101. TIMKEN CO		2011-04-25	2011-09-30
	11. UNITED HEALTH GROUP INCORPORATED		2011-04-25	2011-09-30
	18. UNUM GROUP		2011-04-25	2011-09-30
	115. WALGREEN CO		2011-04-25	2011-09-30
	12. WELLS FARGO CO		2011-04-25	2011-09-30
	266. WESTERN UNION CO		2011-06-20	2011-09-30
	31. HERBALIFE LTD		2011-04-25	2011-09-30
	30. AVAGO TECHNOLOGIES		2011-04-25	2011-09-30
	80. JACOBS ENGR GROUP INC		2007-06-08	2011-10-04
	72. JACOBS ENGR GROUP INC		2010-10-08	2011-10-04
	24. NOVO NORDISK AS A D R		2011-04-21	2011-10-14
	148. SONY CORP A D R		2011-03-24	2011-10-14
	86. LIFE TECHNOLOGIES CORP		2011-06-23	2011-10-19
	6. APACHE CORP		2011-08-10	2011-10-25
	31. APACHE CORP		2009-10-02	2011-10-25
	88. COMCAST CORP CL A		2011-04-29	2011-10-25
	25. CONOCOPHILLIPS		2010-04-22	2011-10-25
	45. HESS CORP		2009-07-23	2011-10-25
	20. ISHARES DOW JONES REGIONAL BK IN FD		2011-08-10	2011-10-25
	174. ISHARES DOW JONES REGIONAL BK IN FD		2010-01-07	2011-10-25
	29. MCDONALDS CORP		2009-05-18	2011-10-25
	12. OCCIDENTAL PETROLEUM CORPORATION		2009-01-26	2011-10-25
	63. P N C FINANCIAL SERVICES GROUP INC		2009-04-30	2011-10-25
	24. PEABODY ENERGY CORP		2011-08-10	2011-10-25
	6. PEPSICO INC		2011-04-11	2011-10-25
	14. PEPSICO INC		2009-03-11	2011-10-25
	16. TARGET CORPORATION		2009-08-03	2011-10-25
	142. VALE SA SP A D R		2010-09-28	2011-10-25
	653. PRECISION DRILLING TRUST		2011-01-18	2011-10-31
	114. ADMIRAL GROUP PLC ADR		2011-04-21	2011-11-07
	457. INFINEON TECHNOLOGIES A G A D R		2011-02-01	2011-11-09
	49. VOLVO AB SPONSORED A D R		2010-09-28	2011-11-09
	271. VOLVO AB SPONSORED A D R		2010-09-28	2011-11-10
	242. UBS AG REG		2010-08-27	2011-11-14
	117. ENCANA CORP		2011-04-21	2011-11-17
	128. FOCUS MEDIA HOLDING A D R		2010-06-09	2011-11-21
	448. INFINEON TECHNOLOGIES A G A D R		2010-12-15	2011-11-21
	186. ADOBE SYS INC		2011-09-30	2011-11-30
	161. ARROW ELECTRS INC		2011-09-30	2011-11-30
	172. COCA COLA ENTERPRISES INC		2011-04-25	2011-11-30
	170. HORMEL FOODS CORP		2011-04-25	2011-11-30
	16. MACYS INC		2011-04-25	2011-11-30
	12. MARATHON PETROLEUM CORP		2011-04-25	2011-11-30
	180. SUN LIFE FINANCIAL INC		2011-04-25	2011-11-30
	16. WYNDHAM WORLDWIDE CORP		2011-09-06	2011-11-30
	83. HERBALIFE LTD		2011-04-25	2011-11-30
	139. AVAGO TECHNOLOGIES		2011-04-25	2011-11-30
	51. HALLIBURTON CO		2010-11-18	2011-12-09
	126. AGCO CORP		2010-09-15	2011-12-20
	100000. JPMORGAN 24MO 200% EEM 12/30/11		2009-12-22	2011-12-30
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	7,619	8,087	-468
b	4,222	3,048	1,174
c	518	591	-73
d	7,830	9,233	-1,403
e	7,008	8,595	-1,587
	285	338	-53
	3,759	2,063	1,696
	1,181	903	278
	1,742	1,440	302
	13,348	13,256	92
	1,566	928	638
	2,801	1,957	844
	3,167	2,291	876
	12,616	8,706	3,910
	466	486	-20
	1,233	1,310	-77
	1,254	579	675
	1,198	720	478
	2,139	1,339	800
	905	896	9
	2,342	2,333	9
	2,654	2,423	231
	607	423	184
	5,362	6,906	-1,544
	7,225	6,833	392
	323	340	-17
	323	380	-57
	3,371	2,380	991
	733	685	48
	3,393	3,115	278
	907	868	39
	1,792	1,935	-143
	2,250	1,958	292
	2,252	1,817	435
	3,971	2,775	1,196
	1,484	1,302	182
	615	517	98
	484	423	61
	441	327	114
	8,186	7,179	1,007
	154	150	4
	2,135	1,612	523
	3,314	2,155	1,159
	462	363	99
	1,235	1,002	233
	344	365	-21
	1,251	1,077	174
	2,533	1,741	792
	878	770	108
	674	554	120
	985	735	250
	28		28
	452	426	26
	10,429	10,067	362
	2,272	2,154	118
	1,238	1,290	-52
	2,460	1,864	596
	5,974	6,356	-382
	5,238	6,366	-1,128
	250,000	247,773	2,227
	1,387	1,079	308
	2,426	1,440	986
	730	808	-78
	1,674	1,673	1
	2,234	2,534	-300
	406	289	117
	6,634	6,850	-216
	3,093	7,076	-3,983
	9,407	8,954	453
	2,588	3,361	-773
	552	714	-162
	1,948	1,663	285
	4,798	2,612	2,186
	7,968	6,926	1,042
	2,098	1,460	638
	4,037	4,384	-347
	278	280	-2
	2,728	2,861	-133
	1,783	1,839	-56
	408	344	64
	3,894	4,365	-471
	2,428	2,230	198
	2,540	2,447	93
	2,107	2,225	-118
	1,416	1,761	-345
	491	638	-147
	6,412	6,816	-404
	560	597	-37
	5,248	2,588	2,660
	730	485	245
	1,652	1,398	254
	2,129	2,018	111
	1,101	1,088	13
	44,968	47,537	-2,569
	49,645	46,150	3,495
	486	378	108
	1,068	760	308
	935	699	236
	374	386	-12
	434	456	-22
	2,300	2,184	116
	2,543	2,775	-232
	1,848	1,942	-94
	1,021	829	192
	2,981	1,107	1,874
	3,761	3,639	122
	3,354	2,363	991
	475	210	265
	5,021	3,257	1,764
	464	457	7
	2,075	1,891	184
	3,717	3,202	515
	4,130	3,795	335
	1,960	1,720	240
	202	247	-45
	2,824	3,345	-521
	4,223	3,846	377
	3,911	3,954	-43
	619	236	383
	2,594	1,781	813
	369	294	75
	1,704	923	781
	378	380	-2
	8,235	7,493	742
	982	1,109	-127
	5,445	3,638	1,807
	2,884	1,821	1,063
	1,557	1,051	506
	576	511	65
	1,029	699	330
	3,436	3,688	-252
	376	429	-53
	1,276	858	418
	1,306	1,074	232
	1,332	1,490	-158
	1,775	1,791	-16
	2,189	1,104	1,085
	5,104	3,923	1,181
	1,184	1,877	-693
	835	918	-83
	2,651	1,232	1,419
	4,074	3,142	932
	3,287	1,460	1,827
	1,292	899	393
	589	521	68
	4,642	6,070	-1,428
	1,650	1,140	510
	459	364	95
	751	788	-37
	1,897	1,095	802
	3,503	2,618	885
	2,262	1,612	650
	1,492	1,495	-3
	524	399	125
	1,273	1,244	29
	4,504	4,226	278
	1,450	1,056	394
	2,014	1,280	734
	1,196	1,026	170
	1,481	1,333	148
	138	94	44
	399	426	-27
	698	752	-54
	1,851	1,769	82
	3,260	1,647	1,613
	2,283	1,478	805
	732	488	244
	3,443	3,966	-523
	1,187	1,243	-56
	2,880	2,584	296
	148	155	-7
	1,330	1,219	111
	972	1,012	-40
	2,302	2,404	-102
	1,891	1,836	55
	485	486	-1
	2,838	2,093	745
	425	436	-11
	1,406	1,392	14
	992	786	206
	1,698	1,873	-175
	2,808	2,829	-21
	347	319	28
	2,719	2,323	396
	761	770	-9
	653	664	-11
	3,931	4,070	-139
	7,147	7,696	-549
	1,679	1,798	-119
	2,004	1,731	273
	4,750	3,362	1,388
	2,617	1,562	1,055
	655	412	243
	98	99	-1
	1,461	1,287	174
	1,742	1,920	-178
	419	458	-39
	9,527	7,233	2,294
	556	606	-50
	5,014	3,196	1,818
	380	383	-3
	872	968	-96
	2,537	2,576	-39
	1,411	1,439	-28
	536	580	-44
	89	65	24
	1,812	1,537	275
	5,492	4,480	1,012
	4,108	3,191	917
	3,656	2,645	1,011
	1,522	1,020	502
	990	809	181
	2,484	2,595	-111
	3,709	4,823	-1,114
	739	762	-23
	1,265	1,458	-193
	1,703	1,809	-106
	594	649	-55
	4,581	3,284	1,297
	290	263	27
	7,820	5,418	2,402
	935	609	326
	99,662	93,851	5,811
	3,816	3,723	93
	700	571	129
	3,233	3,849	-616
	314	315	-1
	5,757	5,742	15
	75,928	75,249	679
	1,215	695	520
	4,018	3,337	681
	606	331	275
	2,222	1,626	596
	2,171	1,705	466
	485	472	13
	60,000	60,000
	825	529	296
	1,349	1,005	344
	4,624	5,919	-1,295
	2,115	2,110	5
	4,285	3,561	724
	799	792	7
	1,300	1,087	213
	2,571	2,502	69
	997	777	220
	4,887	3,297	1,590
	2,439	1,645	794
	548	377	171
	3,024	2,176	848
	2,484	2,135	349
	2,526	333	2,193
	1,183	1,221	-38
	2,054	2,061	-7
	1,505	984	521
	7,280	2,327	4,953
	2,055	1,936	119
	474	442	32
	49,721	42,112	7,609
	2,026	1,728	298
	2,637	2,570	67
	4,392	4,305	87
	2,295	2,201	94
	2,281	1,736	545
	1,702	1,778	-76
	106	99	7
	3,447	2,630	817
	422	431	-9
	4,036	4,657	-621
	3,575	4,231	-656
	664	544	120
	492	431	61
	1,954	2,006	-52
	334	182	152
	1,224	1,176	48
	3,932	3,672	260
	436	434	2
	2,853	3,415	-562
	4,855	5,756	-901
	4,469	3,658	811
	2,140	2,184	-44
	2,565	1,677	888
	857	566	291
	417	317	100
	3,654	2,976	678
	850	615	235
	221	96	125
	5,262	3,690	1,572
	10,649	6,546	4,103
	2,816	2,592	224
	531	400	131
	774	589	185
	4,032	3,972	60
	727	739	-12
	1,427	1,193	234
	3,236	3,214	22
	1,162	1,208	-46
	2,008	1,910	98
	898	777	121
	302	211	91
	314	1,824	-1,510
	1,785	1,444	341
	1,845	1,458	387
	2,229	1,511	718
	334	262	72
	475	325	150
	1,847	1,655	192
	19	19
	4,681	4,228	453
	8,644	8,384	260
	7,273	6,478	795
	8,332	7,643	689
	6,201	6,546	-345
	8,291	8,156	135
	419	397	22
	8,712	5,199	3,513
	3,105	2,401	704
	6,062	4,776	1,286
	2,234	2,192	42
	8,702	6,316	2,386
	8,597	7,973	624
	3,243	2,335	908
	8,502	7,248	1,254
	6,170	6,035	135
	5,875	3,709	2,166
	136	88	48
	11,472	6,108	5,364
	8,400	7,918	482
	5,838	4,777	1,061
	8,475	6,883	1,592
	8,469	5,921	2,548
	8,554	6,118	2,436
	5,770	5,920	-150
	7,221	9,332	-2,111
	1,298	1,290	8
	2,958	3,452	-494
	6,614	6,421	193
	1,890	1,846	44
	8,777	7,051	1,726
	2,010	1,919	91
	8,039	7,708	331
	9,718	6,250	3,468
	641	585	56
	7,944	6,094	1,850
	8,602	8,446	156
	5,214	3,487	1,727
	3,489	3,183	306
	8,839	6,932	1,907
	8,635	6,920	1,715
	7,893	5,292	2,601
	935	786	149
	3,727	3,518	209
	5,722	4,559	1,163
	2,417	1,526	891
	1,966	1,886	80
	2,602	1,961	641
	1,774	1,148	626
	6,375	5,583	792
	2,013	2,215	-202
	3,003	1,865	1,138
	2,563	2,181	382
	5,304	2,885	2,419
	3,470	2,804	666
	4,181	4,377	-196
	3,232	3,053	179
	4,902	3,689	1,213
	16	12	4
	20	25	-5
	1,248	1,335	-87
	2,327	2,733	-406
	371	374	-3
	4,549	4,599	-50
	3,668	2,888	780
	4		4
	1,554	1,838	-284
	4,583	5,189	-606
	5,852	6,262	-410
	4,906	5,461	-555
	4,936	5,609	-673
	5,545	5,688	-143
	4,588	3,946	642
	2,588	1,696	892
	1,446	579	867
	1,209	1,099	110
	1,247	1,152	95
	1,138	1,248	-110
	1,213	1,200	13
	997	609	388
	1,107	960	147
	2,352	1,664	688
	6,206	6,253	-47
	4,559	8,225	-3,666
	27	25	2
	5,101	2,131	2,970
	123,995	100,666	23,329
	1,624	3,252	-1,628
	5,729	9,219	-3,490
	1,172	721	451
	2,108	1,416	692
	1,723	1,800	-77
	1,326	1,365	-39
	2,718	3,251	-533
	3,270	5,606	-2,336
	5,211	7,041	-1,830
	4,727	4,553	174
	127,562	99,474	28,088
	348,730	328,525	20,205
	3,238	3,921	-683
	3,376	5,092	-1,716
	997	1,522	-525
	4,274	5,283	-1,009
	1,011	1,544	-533
	2,057	2,485	-428
	1,931	2,889	-958
	2,275	1,344	931
	1,718	2,328	-610
	1,349	1,669	-320
	3,732	5,683	-1,951
	2,659	3,635	-976
	3,809	4,962	-1,153
	2,523	3,198	-675
	4,345	4,544	-199
	4,167	4,538	-371
	3,801	6,010	-2,209
	2,388	3,522	-1,134
	2,660	3,535	-875
	1,536	1,935	-399
	259	445	-186
	2,583	7,327	-4,744
	494	1,766	-1,272
	3,187	4,958	-1,771
	4,003	4,470	-467
	3,374	1,853	1,521
	4,020	8,090	-4,070
	1,230	1,302	-72
	1,928	1,767	161
	411	409	2
	284	262	22
	383	387	-4
	469	414	55
	3,677	5,238	-1,561
	444	517	-73
	1,967	3,463	-1,496
	4,035	3,077	958
	55	57	-2
	801	793	8
	1,411	848	563
	1,124	1,011	113
	523	536	-13
	752	893	-141
	174	209	-35
	242	306	-64
	1,185	1,087	98
	3,330	5,394	-2,064
	512	525	-13
	378	462	-84
	3,796	4,896	-1,100
	294	343	-49
	4,094	5,307	-1,213
	1,711	1,330	381
	982	968	14
	2,548	4,388	-1,840
	2,293	2,907	-614
	2,390	3,156	-766
	2,966	4,951	-1,985
	3,241	4,471	-1,230
	572	606	-34
	2,957	2,794	163
	2,143	3,353	-1,210
	1,778	1,404	374
	2,708	2,528	180
	401	374	27
	3,490	3,390	100
	2,676	1,566	1,110
	1,033	681	352
	3,399	2,533	866
	968	1,098	-130
	372	397	-25
	867	663	204
	871	689	182
	3,183	3,854	-671
	8,022	6,662	1,360
	2,126	3,175	-1,049
	3,967	4,588	-621
	565	713	-148
	3,075	3,636	-561
	2,865	4,046	-1,181
	2,223	3,808	-1,585
	1,977	2,027	-50
	3,404	4,180	-776
	5,076	4,533	543
	5,854	6,439	-585
	4,463	4,928	-465
	5,095	4,828	267
	516	385	131
	401	509	-108
	3,204	5,715	-2,511
	566	476	90
	4,630	3,562	1,068
	4,157	4,487	-330
	1,707	1,872	-165
	5,190	6,191	-1,001
	100,000	100,000
			150

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			-468
b			1,174
c			-73
d			-1,403
e			-1,587
			-53
			1,696
			278
			302
			92
			638
			844
			876
			3,910
			-20
			-77
			675
			478
			800
			9
			9
			231
			184
			-1,544
			392
			-17
			-57
			991
			48
			278
			39
			-143
			292
			435
			1,196
			182
			98
			61
			114
			1,007
			4
			523
			1,159
			99
			233
			-21
			174
			792
			108
			120
			250
			28
			26
			362
			118
			-52
			596
			-382
			-1,128
			2,227
			308
			986
			-78
			1
			-300
			117
			-216
			-3,983
			453
			-773
			-162
			285
			2,186
			1,042
			638
			-347
			-2
			-133
			-56
			64
			-471
			198
			93
			-118
			-345
			-147
			-404
			-37
			2,660
			245
			254
			111
			13
			-2,569
			3,495
			108
			308
			236
			-12
			-22
			116
			-232
			-94
			192
			1,874
			122
			991
			265
			1,764
			7
			184
			515
			335
			240
			-45
			-521
			377
			-43
			383
			813
			75
			781
			-2
			742
			-127
			1,807
			1,063
			506
			65
			330
			-252
			-53
			418
			232
			-158
			-16
			1,085
			1,181
			-693
			-83
			1,419
			932
			1,827
			393
			68
			-1,428
			510
			95
			-37
			802
			885
			650
			-3
			125
			29
			278
			394
			734
			170
			148
			44
			-27
			-54
			82
			1,613
			805
			244
			-523
			-56
			296
			-7
			111
			-40
			-102
			55
			-1
			745
			-11
			14
			206
			-175
			-21
			28
			396
			-9
			-11
			-139
			-549
			-119
			273
			1,388
			1,055
			243
			-1
			174
			-178
			-39
			2,294
			-50
			1,818
			-3
			-96
			-39
			-28
			-44
			24
			275
			1,012
			917
			1,011
			502
			181
			-111
			-1,114
			-23
			-193
			-106
			-55
			1,297
			27
			2,402
			326
			5,811
			93
			129
			-616
			-1
			15
			679
			520
			681
			275
			596
			466
			13

			296
			344
			-1,295
			5
			724
			7
			213
			69
			220
			1,590
			794
			171
			848
			349
			2,193
			-38
			-7
			521
			4,953
			119
			32
			7,609
			298
			67
			87
			94
			545
			-76
			7
			817
			-9
			-621
			-656
			120
			61
			-52
			152
			48
			260
			2
			-562
			-901
			811
			-44
			888
			291
			100
			678
			235
			125
			1,572
			4,103
			224
			131
			185
			60
			-12
			234
			22
			-46
			98
			121
			91
			-1,510
			341
			387
			718
			72
			150
			192

			453
			260
			795
			689
			-345
			135
			22
			3,513
			704
			1,286
			42
			2,386
			624
			908
			1,254
			135
			2,166
			48
			5,364
			482
			1,061
			1,592
			2,548
			2,436
			-150
			-2,111
			8
			-494
			193
			44
			1,726
			91
			331
			3,468
			56
			1,850
			156
			1,727
			306
			1,907
			1,715
			2,601
			149
			209
			1,163
			891
			80
			641
			626
			792
			-202
			1,138
			382
			2,419
			666
			-196
			179
			1,213
			4
			-5
			-87
			-406
			-3
			-50
			780
			4
			-284
			-606
			-410
			-555
			-673
			-143
			642
			892
			867
			110
			95
			-110
			13
			388
			147
			688
			-47
			-3,666
			2
			2,970
			23,329
			-1,628
			-3,490
			451
			692
			-77
			-39
			-533
			-2,336
			-1,830
			174
			28,088
			20,205
			-683
			-1,716
			-525
			-1,009
			-533
			-428
			-958
			931
			-610
			-320
			-1,951
			-976
			-1,153
			-675
			-199
			-371
			-2,209
			-1,134
			-875
			-399
			-186
			-4,744
			-1,272
			-1,771
			-467
			1,521
			-4,070
			-72
			161
			2
			22
			-4
			55
			-1,561
			-73
			-1,496
			958
			-2
			8
			563
			113
			-13
			-141
			-35
			-64
			98
			-2,064
			-13
			-84
			-1,100
			-49
			-1,213
			381
			14
			-1,840
			-614
			-766
			-1,985
			-1,230
			-34
			163
			-1,210
			374
			180
			27
			100
			1,110
			352
			866
			-130
			-25
			204
			182
			-671
			1,360
			-1,049
			-621
			-148
			-561
			-1,181
			-1,585
			-50
			-776
			543
			-585
			-465
			267
			131
			-108
			-2,511
			90
			1,068
			-330
			-165
			-1,001

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	179,770
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	312,381	5,260,092	0.059387
2009	224,749	4,933,270	0.045558
2008	360,314	6,177,701	0.058325
2007	591,175	7,061,690	0.083716
2006	387,864	7,010,554	0.055326

2	Total of line 1, column (d) ......................	2	0.302312
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	0.060462
4	Enter the net value of noncharitable-use assets for 2011 from Part X, line 5.....	4	5,332,820
5	Multiply line 4 by line 3.......................	5	322,433
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	2,796
7	Add lines 5 and 6.........................	7	325,229
8	Enter qualifying distributions from Part XII, line 4..............	8	309,816
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	5,592
	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	5,592
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	5,592
6	Credits/Payments:

a	2011 estimated tax payments and 2010 overpayment credited to 2011	6a	2,308
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c	5,500
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	7,808
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
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	2,216
11	Enter the amount of line 10 to be: Credited to 2012 estimated tax2,216	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

US BANK NATIONAL ASSOCIATION Telephone no. bullet

(651) 466-8722

Located at bullet

101 E FIFTH STST PAULMN ZIP+4 bullet

55101

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
US BANK NA	TRUSTEE 8	82,953
800 NICOLLET MALL MINNEAPOLIS,MN55402	TRUSTEE 8	82,953

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...................

5,204,318

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

209,712

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

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

5,414,030

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.........................

5,414,030

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

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

81,210

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

5,332,820

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

266,641

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....................

266,641

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

5,592

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

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

5,592

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

261,049

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

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

261,049

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................................

261,049

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 ..........

309,816

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

309,816

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............

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

309,816

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					261,049
2 Undistributed income, if any, as of the end of 2011:
a Enter amount for 2010 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2011:
a From 2006.......	47,914
b From 2007.......	260,846
c From 2008.......	55,254
d From 2009.......	0
e From 2010.......	51,682
fTotal of lines 3a through e.........		415,696
4Qualifying distributions for 2011 from Part
XII, line 4: $ 309,816
a Applied to 2010, but not more than line 2a				0
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.....					261,049
e Remaining amount distributed out of corpus		48,767
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		464,463
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 ..........					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) ...........		0
8Excess distributions carryover from 2006 not applied on line 5 or line 7 (see page 27 of the instructions) .............		47,914
9Excess distributions carryover to 2012. Subtract lines 7 and 8 from line 6a ......		416,549
10 Analysis of line 9:
a Excess from 2007....	260,846
b Excess from 2008....	55,254
c Excess from 2009....	0
d Excess from 2010....	51,682
e Excess from 2011....	48,767

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).)

NONE

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.

NONE

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:

LISA HINIKER
101 E FIFTH ST
ST PAUL,MN55101
(651) 466-8722

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

LETTER FORMAT

cAny submission deadlines:

APPLICATIONS ACCEPTED AT ANY TIME

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

THE TRUST PRIMARILY MAKES GRANTS FOR CHARITABLE, EDUCATIONAL, AND RELIGIOUS OR SCIENTIFIC PURPOSES.

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
LOAVES AND FISHES 1917 LOGAN AVE S MINNEAPOLIS,MN55403	NONE	N/A	GENERAL	5,000
MINNEAPOLIS INSTITUTE OF ARTS 2400 THIRD AVE S MINNEAPOLIS,MN55401	NONE	N/A	GENERAL	2,500
THE CHILDREN'S THEATER COMPANY 2400 THIRD AVE S MINNEAPOLIS,MN55404	NONE	N/A	GENERAL	50,000
ST STEPHEN'S LUTHERAN CHURCH 1575 CHARLTON ST WEST ST PAUL,MN55118	NONE	N/A	SCHOLARSHIPS FOR AFRICA	3,000
360 COMMUNITIES 501 E HIGHWAY 13 SUITE 102 BURNSVILLE,MN553372877	NONE	N/A	PARTNERS FOR SUCCESS MATCH	100,000
LUTHERAN MIDEAST DEVELOPMENT C/O ST STEPHEN'S LUTHERAN CHURCH 1575 CHARLTON ST WEST ST PAUL,MN55118	NONE	N/A	DIRECT TO THE PEOPLE/MACHINE, FLAT WEAVE	72,250
PEOPLE SERVING PEOPLE 614 S 3RD ST MINNEAPOLIS,MN55415	NONE	N/A	FAMILY SUPPORT SERVICES	1,000
THE SALVATION ARMY 2445 PRIOR AVENUE ROSEVILLE,MN551132714	NONE	PUBLIC CHARITY	TWIN CITIES EMERGENCY DISASTER SERVICES	2,500
NEIGHBORS INC 218 13TH AVENUE SOUTH SOUTH ST PAUL,MN55075	NONE	N/A	GENERAL	37,500
NC LITTLE MEMORIAL HOSPICE INC 7019 LYNMAR LANE EDINA,MN55435	NONE	N/A	GENERAL	1,000
INDEPENDENT SCHOOL DISTRICT #197 1897 DELAWARE AVE MENDOTA HEIGHTS,MN55118	NONE	N/A	ENCORE SCHOOL AGE CARE	15,000
SOUTHEAST ASIAN MINISTRY 105 WEST UNIVERSITY AVENUE SAINT PAUL,MN55103	NONE	N/A	SERVICES FOR SE ASIAN REFUGEES IN EAST METRO	1,000
GUTHRIE THEATER FOUNDATION 818 SOUTH 2ND STREET MINNEAPOLIS,MN55415	NONE	N/A	GENERAL	2,000
Total ................................. 3a				292,750

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
4 Dividends and interest from securities....			14	165,636
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	179,770
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aFEDERAL TAX REFUND			01	146
bCLASS ACTION SETTL			01	3,532
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				349,084

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

13349,084

(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
SBC COMMUNICATIONS INC
GOLDMAN SACHS 09/01/2012	258,233	254,403
J P MORGAN CHASE 10/01/2015	249,603	265,345
CS FIRST BOSTON USA 01/15/2014	246,880	260,578
MORGAN STANLEY 03/01/2013	249,318	253,060
J P MORGAN CHASE & CO 12/30/11
PIMCO TOTAL RETURN FD	201,475	219,883
FIRST AMER HIGH INC BOND FD
FIRST AMER SHORT TERM BD FD
AMERICAN CENTY INTL BD FD	87,463	85,542
DRIEHAUS ACTIVE INCOME FD	165,000	157,300
DRIEHAUS SELECT CREDIT FD	165,000	160,147
ISHARES JP MORGAN EM BOND FD	80,027	82,313
NUVEEN HIGH INCOME BOND FD	135,000	143,443
NUVEEN INFLATION PRO SEC	150,000	151,965

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
ACCRUED INCOME	3,280	4,112	4,112
2009 WASH SALE ADJUSTMENT	5,233	0	0

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ISHARES DOW JONES REGIONAL BK	2,767	3,132
CISCO SYS INC	5,089	4,936
EXXON MOBIL CORP	11,239	12,544
GENERAL ELECTRIC CO	13,034	14,006
JOHNSON & JOHNSON	10,033	10,690
MCDONALD'S CORP	9,454	18,360
MICROSOFT CORP	26,426	25,623
PFIZER INC	8,109	10,885
VERIZON COMUNICATIONS	7,373	9,027
SCHLUMBERGER LTD	16,086	13,116
PRAXAIR INC	6,376	9,942
QUALCOMM INC	4,986	4,978
UNITED TECHNOLOGIES CORP	4,965	6,797
PEPSICO INC	15,533	16,853
AMGEN INC	4,624	5,586
BANK OF AMERICA CORP
APACHE CORP	9,183	8,152
CONOCOPHILLIPS	11,441	13,044
MCGRAW-HILL COS INC
PROCTER & GAMBLE CO
WELLS FARGO & CO	12,221	15,351
ACCENTURE PLC	8,535	10,486
HEWLETT PACKARD CO
INTEL CORP	4,502	5,093
TEXAS INSTRUMENTS INC	7,844	6,375
ILLINOIS TOOL WKS INC
GOLDMAN SACHS GROUP INC	5,285	3,617
APPLE INC	20,468	39,690
ABBOTT LABORATORIES	4,749	5,679
AFLAC INC	9,800	7,527
BECTON DICKINSON & CO
CHEVRON CORPORATION	15,122	16,705
LINCOLN NATL CORP IND
MCCORMICK & CO INC
V F CORP
AGCO CORP
BOEING CO	2,696	3,154
CAMERON INTL CORP	7,398	9,887
COGNIZANT TECH SOLUTIONS CL A	3,921	6,753
DANAHER CORP	4,573	7,338
ECOLAB INC
EXPRESS SCRIPTS INC	4,188	5,273
GOOGLE INC CL A	12,030	14,856
HALLIBURTON CO	16,053	13,424
IBM CORP	14,028	24,824
JACOBS ENGR GROUP INC
NIKE INC	7,446	12,335
SCHEIN HENRY INC	7,943	9,729
T ROWE PRICE GROUP INC
ABB LTD A D R	15,877	14,010
AIR PRODS CHEMICALS INC
AT&T INC	6,501	6,895
AVALONBAY CMNTYS INC	2,167	4,049
CVS/CAREMARK CORP	9,936	12,234
DISNEY WALT CO	9,448	8,813
FREEPORT MCMORAN COPPER GOLD	2,786	4,010
GENERAL DYNAMICS CORP	2,972	3,321
HESS CORP	2,747	2,954
J P MORGN CHASE & CO	15,117	13,300
KIMBERLY CLARK CORP	4,999	5,149
AGRIUM INC	3,103	5,570
ANGLO AMERICAN PLC ADR	6,315	4,138
B H P BILLITON LTD ADR	2,441	4,379
ATLAS COPCO AB ADR	5,515	6,491
KEPPEL CORP LTD SPONS ADR	13,528	14,781
OCCIDENTAL PETROLEUM CORP	4,813	7,965
PETROLEO BRASILEIRO SPON ADR	12,133	10,453
TOTAL S A ADR	13,494	9,864
HONDA MOTOR CO LTD ADR	6,867	6,202
T J X COS INC	3,722	7,488
BRITISH AMERN TOB PLC ADR	14,729	23,530
DIAGEO PLC SPNS ADR	7,175	7,693
NESTLE S A SPONS ADR	25,468	32,548
NOVARTIS A G ADR	15,666	17,437
ROCHE HLDG LTD ADR	9,752	10,340
DBS GROUP HLDGS LTD	14,671	11,866
PRUDENTIAL FINANCIAL INC	9,547	9,623
TRAVELERS COS INC	3,404	4,201
VORNADO REALTY TR
PUBLIC SVC ENTERPRISE GROUP	4,908	4,819
KONINKLIJKE ROYAL KPN NV ADR	9,606	7,498
TELEFONICA SA SPON ADR
TURKCELL ILETISIM HIZMET ADR
FOMENTO ECONOMICO MEX SP ADR	3,502	6,413
CATERPILLAR INC	4,294	4,349
FLOWSERVE CORP	6,317	4,966
UNION PACIFIC CORP	16,342	25,214
WASTE MGMT INC DEL
KINDER MORGAN MANAGEMENT LLC
BEST BUY COMPANY INC
DIRECTV CL A	3,098	4,960
STAPLES INC
ANADARKO PETROLEUM CORP	9,116	10,839
COMPANHIA DE BEBIDAS P R ADR	4,390	12,162
UNILEVER PLC SPSD ADR	6,917	7,341
WAL MART STORES INC	8,202	9,860
ASTRAZENECA P L C SPSD ADR	8,773	8,888
CERNER CORP	3,588	7,963
GLAXO SMITHKLINE P L C ADR
MEDTRONIC INC
MERCK & CO INC	4,860	5,542
SANOFI ADR	13,525	13,885
THERMO FISHER SCIENTIFIC INC	7,440	7,375
VARIAN MED SYS INC	8,245	9,667
ACE LTD	9,319	9,606
BOC HONG KONG HLDGS LTD ADR	4,460	4,810
BOSTON PPTYS INC	2,435	4,183
METLIFE INC	5,544	5,238
NORTHERN TR CORP
P N C FINANCIAL SERVICES GROUP	9,418	10,727
TOKIO MARINE HOLDINGS ADR	7,053	5,632
ZURICH FINANCIAL SERVICES ADR	3,322	3,810
NATIONAL GRID PLC SP ADR	6,297	6,448
P G E CORP	4,544	4,369
KINDER MORGAN MGMT FRACT CUSIP	10	18
AMERICAN CENTY VISTA FD INSTIT	103,748	124,899
NEUBERGER BERMAN GENESIS INSTL	117,636	155,901
T ROWE PRICE MID CAP VALUE FD	121,855	137,611
AECOM TECHNOLOGY CORP
AMERICAN ELECTRIC POWER CO	4,070	5,742
AMERICAN EXPRESS CO	5,323	6,462
AVON PRODS INC
BRISTOL-MEYERS SQUIBB CO	4,575	5,533
BUCKLE INC
CENTRAL EUROPEAN DISTRIB CORP
DOLBY LABORATORIES
DOMINION RESOURCES INC
DOVER CORP	6,968	9,752
FIFTH THIRD BANCORP	2,999	3,638
KELLOGG CO
L-3 COMMUNICATIONS HLDGS INC
ORACLE CORPORATION	21,083	18,468
MASTERCARD INC
PACCAR INC
PRICELINE COM INC	1,264	8,886
RED HAT INC
TARGET CORPORATION	2,724	3,278
UNITED HEALTH GROUP INC	11,278	14,292
UNITED STATES STEEL CORP
VISA INC CLASS A SHRS
XILINX INC
BARCLAYS PLC ADR	6,977	3,847
CANON INC SPONS ADR	12,662	14,269
COVIDIEN PLC	8,464	7,787
CARNIVAL CORP	13,103	12,762
FUJIFILM HOLDINGS ADR	5,274	5,094
DESARROLLADORA HOMEX ADR
ERICSSON TEL SP ADR
LUKOIL SPON ADR	8,224	8,991
MITSUI & CO LTD SPSD ADR	6,689	9,285
MTN GROUP LTD ADR	5,955	4,921
NISSAN MOTOR LTD SPONS ADR	8,220	8,641
ORIX CORP SPONS ADR	4,014	4,922
PETROLEO BRASILEIRO S A ADR
SAP AG ADR	8,567	6,831
SOCIETE GENERALE FRANCE ADR
THOMPSON CREEK METALS CO INC
TYCO INTERNATIONAL LTD	2,160	2,522
VALE SA SP ADR	3,958	3,770
ISHARES MSCI EMERGING MKTS ETF	104,180	118,183
COLGATE PALMOLIVE CO
ALLERGAN INC	5,975	8,248
AMERIPRISE FINL INC	4,240	4,517
BORG WARNER INC	5,897	9,370
BROADCOM CORP	8,166	6,518
CELGENE CORP	5,837	6,354
CITIGROUP INC	4,137	3,526
CORNING INC
EMC CORP	15,273	14,583
FED EX CORP
KEYCORP NEW	2,721	2,791
KRAFT FOODS INC	7,883	8,854
LINEAR TECHNOLOGY CORP
LUBRIZOL CORP
NEXTERA ENERGY INC	4,657	5,175
ONEOK INC
PARKER HANNIFIN CORP
PEABODY ENERGY CORP	3,927	2,947
PIONEER NAT RES CO	6,735	10,290
POLO RALPH LAUREN CORP
REYNOLDS AMERICAN INC	3,602	4,639
SEMPRA ENERGY	4,153	4,620
TUPPERWARE BRANDS INC
3M CO
ANHEUSER BUSCH INBEV NV ADR	4,635	4,513
BASF AG ADR	8,860	9,204
B H P BILLITON PLC SPSD ADR	9,855	7,591
BNP PARIBAS SA ADR
BT GROUP PLC ADR	13,145	13,960
BANCO BRADESCO ADR
BAYERISCHE MOTOREN WERKE ADR	7,809	8,514
CENTRICA PLC ADR
CNOOC LTD ADR	6,006	5,764
FOCUS MEDIA HOLDING ADR
HSBC HOLDINGS PLC SPONS ADR	7,776	5,563
INFINEON TECHNOLOGIES AG ADR
INTERCONTINENTAL HTLS PLSPONS	4,254	4,246
LVMH MOET HENNESSY LOU VUI ADR	7,112	5,929
ROGERS COMMUNICATIONS INC
ROYAL DUTCH SHELL PLC ADR	9,068	9,794
SIEMENS AG ADR	6,292	6,023
SWISS REINSURANCE CO SPSD ADR
UBS AG REG
VODAFONE GROUP PLC ADR	14,534	15,220
VOLVO AB SPONSORED ADR	4,210	3,631
IPATH DOW JONES UBS COMMODITY
AGILENT TECHNOLOGIES INC	6,673	5,274
ALLIANCE DATA SYSTEMS CORP	4,646	5,192
AMAZON COM INC	4,715	4,501
ANNALY CAP MGMT INC	4,435	4,022
AON CORP	2,072	1,966
CARDINAL HEALTH INC	4,901	4,630
COMCAST CORP CL A	1,836	1,897
CUMMINS INC	4,714	5,017
DEERE & CO	12,085	11,448
DISCOVER FINL SVCS	4,249	4,296
DU PONT E I DE NEMOURS & CO	11,643	10,987
E BAY INC	7,775	7,795
EQUINIX INC	6,733	7,098
FLUOR CORP	7,798	6,332
FRANKLIN RES INC	3,965	3,266
HELMERICH PAYNE INC	6,110	5,544
HUMANA INC	2,555	3,504
INTERNATIONAL PAPER CO	4,146	5,210
KLA TENCOR CORP	5,163	5,404
KOHLS CORP	3,019	2,764
LAUDER ESTEE COS INC CL A	9,461	10,670
LOCKHEED MARTIN CORP	4,954	5,501
MACYS INC	4,114	5,503
MARATHON PETROLEUM CORP	4,869	4,527
MATTEL INC	5,169	5,358
P P G INDS INC	1,726	1,920
P P L CORPORATION	4,078	4,442
PHILIP MORRIS INTL	4,810	5,572
RALPH LAUREN CORP	4,368	6,214
ROSS STORES INC	4,709	6,179
SIMON PROPERTY GROUP	3,705	4,384
TIME WARNER CABLE INC	3,034	2,670
TIME WARNER INC	3,360	3,542
UNUM GROUP	5,051	4,151
VIACOM INC CL B	5,831	5,495
WYNDHAM WORLDWIDE CORP	4,607	5,864
XCEL ENERGY INC	4,654	5,362
AIR LIQUIDE SA ADR	10,478	9,028
ALLIANZ SE ADR	17,053	10,976
AMERICA MOVIL ADR	5,898	4,701
ARM HLDGS PLC ADR	9,034	8,080
ATLAS COPCO AB SPONS ADR	5,130	3,861
B A E SYSTEMS PLC ADR	4,161	4,238
B G GROUP PLC ADR	6,749	5,671
BCE INC	3,945	4,417
BROOKFIELD ASSET MANAGE CL A	4,991	4,177
BUNGE LIMITED	3,095	2,402
CANADIAN NATL RY CO	4,119	4,399
CARNIVAL PLC ADR	4,986	3,787
CHINA MOBILE LIMITED ADR	4,140	3,879
CHINA RES ENTERPRISE LTD ADR	2,780	2,260
COCHLEAR LTD UNSPON ADR	4,820	3,390
CSL LIMITED ADR	3,384	2,833
DASSAULT SYSTEMES SA ADR	10,095	9,971
ENEL SOCIETA ADR	5,050	2,928
ERSTE GROUP BANK AG ADR	8,253	2,759
FANUC CORPORATION ADR	7,667	7,211
FRESENIUS MED CARE SPONS ADR	7,311	6,730
HITACHI LTD	9,245	8,447
HOYA CORP ADR	4,281	4,381
I C I C I BANK LIMITED ADR	7,714	4,097
IMPERIAL OIL LTD	5,203	4,359
ITAU UNIBANCO HOLDINGS SA ADR	4,211	3,229
JGC CORP UNSPONS ADR	2,598	2,448
JUPITER TELECOM ADR	3,079	3,113
LI FUNG LTD ADR	8,348	6,929
LONZA GROUP AG UNSPONS ADR	4,233	3,328
LOREAL CO UNSPONS ADR	6,055	5,041
NETEASE COM INC ADR	7,455	6,683
NIPPON TELEGRAPH TELE ADR	4,133	4,154
OAO GAZPROM SPON ADR	3,238	2,051
QIAGEN NV	3,985	2,679
REPSOL SA SPONS ADR	4,873	4,454
SASOL LTD SPONS ADR	2,974	2,512
SBERBANK SPONS ADR	4,900	3,211
SCHNEIDER ELECT SA UNSP ADR	7,678	4,645
SHIRE PLC ADR	4,918	5,299
SONOVA HOLDING UNSPON ADR	4,064	4,561
SWATCH GROUP AG ADR	4,944	3,852
TAIWAN SEMICONDUCTOR ADR	2,800	2,853
TESCO PLC ADR	4,107	3,956
TEVA PHARMACEUTICAL INDS ADR	5,623	4,601
TURKIYE GARANTI BANKASI AS ADR	6,379	3,800
UNICHARM CORPORATION ADR	4,587	5,889
UNILEVER NV ADR	3,437	3,540
WAL MART DE MEXICO SAB ADR	5,810	5,231
WPP PLC SPONS ADR	5,995	5,066
HIGHLAND LONG SHORT EQUITY Z	200,000	195,204
NUVEEN REAL ESTATE SECURIT	100,000	100,158
SPDR DJ WILSHIRE INTERNATIONAL	175,599	140,529
TFS MARKET NEUTRAL FD	150,000	139,595

Category	Amount	Net Investment Income
FOREIGN TAXES	2,300	2,300
FEDERAL TAX	1,731	0
FOREIGN TAXES ON QUALIFIED FOR	454	454
FOREIGN TAXES ON NONQUALIFIED	213	213