Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2011
For calendar year 2011, or tax year beginning 01-01-2011 , and ending 12-31-2011
G
Check all that apply:
Name of foundation
THE PALMER FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)734 15TH STREET NW STE 600   Room/suite
City or town, state, and ZIP code
WASHINGTON, DC20005
A Employer identification number

36-3700897
B Telephone number (see page 10 of the instructions)

(202) 595-1026
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$12,967,742J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 100,000
2 Check bullet
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 498,613 498,613  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 341,051
b Gross sales price for all assets on line 6a 4,142,552
7 Capital gain net income (from Part IV, line 2)... 341,051
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 8    
12 Total. Add lines 1 through 11........ 939,672 839,664  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 19,250     19,250
c Other professional fees (attach schedule).... Click to see attachment 124,092 40,092   84,000
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 32,750 3,146    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 31,440     31,440
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 5,703     4,965
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 213,235 43,238   139,655
25 Contributions, gifts, grants paid........ 524,500 524,500
26 Total expenses and disbursements. Add lines 24 and 25 737,735 43,238   664,155
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 201,937
b Net investment income (if negative, enter -0-) 796,426
c Adjusted net income (if negative, enter -0-)...  
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2011)
Form 990-PF (2011)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 383,782 781,282 781,282
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 6,715,028 Click to see attachment7,070,730 8,319,652
c Investments—corporate bonds (attach schedule)........ 3,474,576 Click to see attachment2,923,736 2,917,908
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 1,065,920 Click to see attachment1,089,328 948,900
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 11,639,306 11,865,076 12,967,742
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 11,639,306 11,865,076
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).................... 11,639,306 11,865,076
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 11,639,306 11,865,076
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 11,639,306
2 Enter amount from Part I, line 27a..................... 2 201,937
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 23,833
4 Add lines 1, 2, and 3.......................... 4 11,865,076
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 11,865,076
Form 990-PF (2011)
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        
b Capital Gain Dividends      
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a       12,658
b        
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a        
b        
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 341,051
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2010 571,917 12,448,205 0.04594
2009 558,069 11,329,901 0.04926
2008 633,688 12,680,180 0.04998
2007 743,202 14,717,694 0.05050
2006 668,672 13,659,096 0.04895
2 Total of line 1, column (d) ...................... 2 0.24463
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 0.04893
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 13,005,250
5 Multiply line 4 by line 3....................... 5 636,282
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 7,964
7 Add lines 5 and 6......................... 7 644,246
8 Enter qualifying distributions from Part XII, line 4.............. 8 664,155
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)
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 Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 7,964
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2............................ 3 7,964
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 7,964
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 17,960
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 17,960
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 9,996
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet8,000 Refunded Bullet 11 1,996
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
No
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletIL
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV..........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletTHEPALMERFOUNDATION.ORG
    14
    The books are in care ofbulletARABELLA PHILANTHROPIC INVEST Telephone no.bullet (202) 595-1026
    Located atbullet734 15TH STREET NW STE 600WASHINGTONDC ZIP+4bullet20005
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 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? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2011)
    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
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2011?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2011, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2011?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 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.)....................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
    No
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
    No
    Form 990-PF (2011)
    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
    CARL ENROTH DIRECTOR
    0.00     		0    
    734 15TH STREET NW SUITE 600
    WASHINGTON,DC20005
    SUSAN L ENROTH DIRECTOR
    0.00     		0    
    734 15TH STREET NW SUITE 600
    WASHINGTON,DC20005
    KAREN E LISCHICK VICE PRES
    0.00     		0    
    734 15TH STREET NW SUITE 600
    WASHINGTON,DC20005
    JAY L OWEN SEC./TREAS.
    0.00     		0    
    734 15TH STREET NW SUITE 600
    WASHINGTON,DC20005
    MATTHEW LISCHICK Director
    0.00     		0    
    734 15TH STREET NW SUITE 600
    WASHINGTON,DC20005
    MARY P ENROTH PRESIDENT
    0.00     		0    
    734 15TH STREET NW SUITE 600
    WASHINGTON,DC20005
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    ARABELLA PHILANTHROPIC INVESTMENT ADVISORS CONSULTING SERVICES 84,000
    734 15TH STREET NW SUITE 600
    WASHINGTON,DC20005
    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)
    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.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    12,737,064
    b
    Average of monthly cash balances.......................
    1b
    466,236
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    13,203,300
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    13,203,300
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    198,050
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    13,005,250
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    650,263
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    650,263
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    7,964
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,964
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    642,299
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    8
    5
    Add lines 3 and 4............................
    5
    642,307
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    642,307
    Part XII
    Qualifying Distributions (see page 25 of the instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    664,155
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    664,155
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
    7,964
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    656,191
    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)
    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 7 642,307
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 16,981
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2011:
    a From 2006.......  
    b From 2007.......  
    c From 2008.......  
    d From 2009.......  
    e From 2010.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 664,155
    a Applied to 2010, but not more than line 2a 16,981
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		  
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2011 distributable amount..... 642,307
    e Remaining amount distributed out of corpus 4,867
    5 Excess distributions carryover applied to 2011.    
    (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 4,867
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		 
    e Undistributed income for 2010. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    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) ...........     		 
    8Excess distributions carryover from 2006 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		 
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		4,867
    10 Analysis of line 9:
    a Excess from 2007....  
    b Excess from 2008....  
    c Excess from 2009....  
    d Excess from 2010....  
    e Excess from 2011.... 4,867
    Form 990-PF (2011)
    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 section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2011 (b) 2010 (c) 2009 (d) 2008
             
    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).)
    MARY P ENROTH
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2011)
    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)
    aPaid during the year
    NADAR POR VIDA
    6718 CAPSTAN DRIVE
    ANNANDALE,VA22003     		NONE PUBLIC GENERAL 8,000
    DOORWAYS FOR WOMEN AND FAMILIES INC
    PO BOX 100185
    ARLINGTON,VA22210     		NONE PUBLIC GENERAL 7,000
    THE CROHN'S COLITIS FDN OF AMERICA
    11300 ROCKVILLE PIKE
    ROCKVILLE,MD20852     		NONE PUBLIC GENERAL 6,000
    SANDHILLS COMMUNITY COLLEGE
    3395 AIRPORT ROAD
    PINEHURST,NC28374     		NONE PUBLIC GENERAL 60,000
    BEHRHORST PARTNERS FOR DEVELOPMENT
    2411 S SUPERIOR STREET
    MILWAUKEE,WI53207     		NONE PUBLIC GENERAL 30,000
    GIRL SCOUTS OF THE CHESAPEAKE BAY
    501 SOUTH COLLEGE AVENUE
    NEWARK,DE19713     		NONE PUBLIC GENERAL 10,000
    COMMUNITY CHURCH OF GOD
    790 S CARLIN SPRING ROAD
    ARLINGTON,VA22204     		NONE PUBLIC GENERAL 1,000
    BEHRHORST PARTNERS FOR DEVELOPMENT
    2411 S SUPERIOR STREET
    MILWAUKEE,WI53207     		NONE PUBLIC GENERAL 3,000
    AMERICAN RED CROSS OF EASTERN MASS
    139 MAIN STREET
    CAMBRIDGE,MA02142     		NONE PUBLIC GENERAL 14,000
    INTEGRATIVE HEALTH INITIATIVE INC
    4201 WILSON BLVD 110-341
    ARLINGTON,VA22203     		NONE PUBLIC GENERAL 4,000
    RIVERSIDE PRESBYTERIAN CHURCH
    20 PIDGEON HILL DR SUITE 109
    STERLING,VA20165     		NONE PUBLIC GENERAL 3,000
    COMMUNITY CHURCH OF GOD
    790 S CARLIN SPRING ROAD
    ARLINGTON,VA22204     		NONE PUBLIC GENERAL 2,000
    BEHRHORST PARTNERS FOR DEVELOPMENT
    2411 S SUPERIOR STREET
    MILWAUKEE,WI53207     		NONE PUBLIC GENERAL 4,000
    HOFFMAN INSTITUTE FOUNDATION
    1299 FOURTH STREET STE 304
    SAN RAFAEL,CA94901     		NONE PUBLIC GENERAL 20,000
    RIVERSIDE PRESBYTERIAN CHURCH
    20 PIDGEON HILL DR SUITE 109
    STERLING,VA20165     		NONE PUBLIC GENERAL 5,000
    SANDHILLS COMMUNITY COLLEGE FOUNDAT
    3395 AIRPORT ROAD
    COLUMBIA,SC29203     		NONE PUBLIC GENERAL 50,000
    KING BAUDOUIN FOUNDATION US INC
    10 ROCKEFELLER PLAZA 16TH FLOOR
    NEW YORK,NY10020     		NONE PUBLIC GENERAL 35,000
    COLUMBIA INTERNATIONAL UNIVERSITY
    7345 MONTICELLO ROAD
    COLUMBIA,SC29203     		NONE PUBLIC GENERAL 20,500
    POTOMAC MASSAGE TRAINING INSTITUTE
    5028 WISCONSIN AVE NW STE LL
    WASHINGTON,DC20016     		NONE PUBLIC GENERAL 10,000
    POTOMAC CONSERVANCY INC
    8601 GEORGIA AVENUE STE 612
    SILVER SPRING,MD20910     		NONE PUBLIC GENERAL 30,000
    PARTNER FOR SURGERY INC
    6804 MELAROSE DRIVE
    MCLEAN,VA22101     		NONE PUBLIC GENERAL 30,000
    MARYLAND HAWK CORPORATION
    2147 RICHARD A HENSON CENTER
    PRINCESS ANNE,MD21853     		NONE PUBLIC GENERAL 20,000
    LAKE FOREST SYMPHONY INC
    900 NORTH SHORE DRIVE SUITE 109A
    LAKE BLUFF,IL60044     		NONE PUBLIC GENERAL 4,000
    HABITAT FOR HUMANITY OF WICOMICO CO
    908 W ISABELLA ST
    SALISBURY,MD21801     		NONE PUBLIC GENERAL 14,000
    DOORWAYS FOR WOMEN AND FAMILIES INC
    PO BOX 100185
    ARLINGTON,VA22210     		NONE PUBLIC GENERAL 25,000
    RAGDALE FOUNDATION
    1260 NORTH GREEN BAY ROAD
    LAKE FOREST,IL60045     		NONE PUBLIC GENERAL 10,000
    KEMPER CENTER INC
    6501 3RD AVENUE
    KENOSHA,WI53143     		NONE PUBLIC GENERAL 14,000
    HOFFMAN INSTITUTE FOUNDATION
    1299 FOURTH STREET STE 304
    SAN RAFAEL,CA94901     		NONE PUBLIC GENERAL 10,000
    ALLIANCE FOR THE GREAT LAKES
    17 N STATE STREET STE 1390
    CHICAGO,IL60602     		NONE PUBLIC GENERAL 75,000
    Total .................................bullet 3a 524,500
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2011)
    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 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments          
    4 Dividends and interest from securities....     14 498,613  
    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     18 341,051  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aPRIOR YEAR GRANT RECOVERY     14 8  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   839,672  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13839,672
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2011)
    Additional Data


    Software ID: 11000144
    Software Version: 2011v1.2


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    OMB No. 1545-0047
    2011
    Name of organization
    THE PALMER FOUNDATION
     
    Employer identification number

    36-3700897
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......................... Arrow Bullet   $    
    Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on Part I, line 2, of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 2
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    THE PALMER FOUNDATION
          		Employer identification number

    36-3700897
    Part I
    Contributors (see Instructions). Use duplicate copies of Part I if additional space is needed.
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    MARY P ENROTH    
    734 15TH STREET NW SUITE 600
       
    WASHINGTON, DC   20005

    		$100,000




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

         
     
       

    		$  




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

         
     
       

    		$  




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

         
     
       

    		$  




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

         
     
       

    		$  




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

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 3
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    THE PALMER FOUNDATION
          		Employer identification number

    36-3700897
    Part II
    Noncash Property (see Instructions). Use duplicate copies of Part II if additional space is needed.
    		     
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 4
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    THE PALMER FOUNDATION
          		Employer identification number

    36-3700897
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    that total more than $1,000 for the year. Complete columns (a) through (e) and the following line entry.
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
    Use duplicate copies of Part III if additional space is needed
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Additional Data


    Software ID: 11000144
    Software Version: 2011v1.2

    TY 2011 AccountingFeesSchedule
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEES FOR TAX PREPARATION 19,250 0 0 19,250

    TY 2011 ContractorCompensationExpln
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Contractor Explanation
    ARABELLA PHILANTHROPIC INVESTMENT ADVISORS THE CONSULTANT WILL ASSIST THE FOUNDATION IN DEVELOPING A RENEWED STRATEGIC FRAMEWORK AND A SET OF OPERATING SYSTEMS AND PROCESSES TO SUPPORT THE FOUNDATIONS'S GIVING.

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Name of Bond End of Year Book Value End of Year Fair Market Value
    100000 TOTAL CAPITAL SA 3.125 10/2/15 104,575 105,902
    200000 PROCTER & GAMBLE CO 3.5 2/15/15 210,351 215,368
    100000 SHELL INTL FIN 4.00 03/21/14 108,240 107,484
    200000 BP CAPITAL MRKS PLC 3.125 3/10/12 204,772 200,918
    100000 WYETH VAR CPN 03/15/13 111,325 105,710
    160000 JPMORGAN CHASE & CO 4.75 5/01/13 171,184 167,267
    200000 GOLDMAN SACHS GROUP 5.00 10/01/14 215,824 202,734
    200000 DUPONT EI NEMOUR 4.875 04/30/14 218,456 218,460
    250000 HEWLETT-PACKARD CO 4.50 3/01/13 252,175 257,113
    250000 GENERAL ELEC CAP CORP 10/19/12 259,175 258,743
    250000 WALT DISNEY CO 4.70 12/01/12 255,110 259,430
    100000 PITNEY BOWES INC 4.625 10/01/12 100,726 102,527
    250000 MORGAN STANLEY 5.30 3/01/13 251,460 253,060
    100000 MCDONALDS CORP 5.75 3/01/12 101,920 100,814
    250000 EMERSON ELECTRIC 4.50 5/01/13 256,763 261,452
    100000 COSTCO WHOLESALE CORP 5.3 3/15/12 101,680 100,926

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Name of Stock End of Year Book Value End of Year Fair Market Value
    3225 WALGREEN CO 135,443 106,619
    1775 VERIZON COMMUNICATIONS 66,172 71,213
    3225 VALERO ENERGY CORP 65,817 67,886
    7525 US BANCORP NEW 190,748 203,551
    950 SIEMENS A G SPON AMER DEPOSIT RECPT 122,079 90,830
    1300 PROCTER & GAMBLE CO 82,432 86,723
    3700 PFIZER INC 66,377 80,068
    5400 MICROSOFT CORP 142,919 140,184
    4425 LILLY ELI & CO 168,782 183,903
    5825 KROGER CO 140,303 141,081
    2925 GLOBAL PAYMENTS INC 145,445 138,586
    2500 GILEAD SCIENCES INC 99,125 102,325
    1475 FREEPORTMCMORAN COPPERAND GOLD INC 49,943 54,265
    1590 DU PONT E I DE NEMOURS & CO 88,705 72,790
    1000 CUMMINS INC 100,510 88,020
    2350 COMCAST CORP- CL A 57,199 55,718
    675 CLIFFS NATURAL RESOURCES INC 55,033 42,086
    1000 CHEVRON CORPORATION 109,520 106,400
    4300 CBS CORPORATION CLASS B 102,913 116,702
    1400 AMERIPRISE FINANCIAL INC 88,894 69,496
    1900 WATSON PHARMACEUTICALS INC 94,069 114,646
    2875 TRAVELERS COMPANIES INC 146,576 170,114
    1825 TJX COS INC 82,490 117,804
    1725 SCHLUMBERGER LTD 108,201 117,835
    1400 SANDISK CORP 68,418 68,894
    1825 PETSMART INC 57,582 93,604
    1000 OCCIDENTAL PETE CORP 77,675 93,700
    5800 NOVELLUS SYSTEMS INC 209,473 239,482
    1175 NEXTERA ENERGY INC 61,018 71,534
    4025 MACY'S INC 102,637 129,525
    5150 KBR INC 151,695 143,531
    950 DOLLAR TREE INC 37,793 78,954
    3100 CORN PRODS INTL INC 143,383 163,029
    350 AUTOZONE INC 60,809 113,739
    8425 ISHARES MSCI EMERGING MARKETS INDE 190,376 319,645
    12600 ISHARES MSCI EAFE INDEX FUND 686,972 624,078
    1600 ACE LIMITED 89,704 112,192
    2425 MCKESSON CORP 155,576 188,932
    1400 JP MORGAN CHASE & CO 48,285 46,550
    5175 WELLS FARGO & CO 136,836 142,623
    3350 WAL MART STORES INC 171,156 200,196
    5850 UTILITIES SELECT SECTOR SPDR 173,541 210,483
    4000 SNAP ON INC 145,880 202,480
    1975 RAYTHEON CO 65,096 95,551
    8750 ORACLE CORP 128,058 224,438
    2125 NORTHROP GRUMMAN CORP 125,056 124,270
    4885 MATERIALS SELECT SPDR SECTOR 135,192 163,648
    7650 ISHARES TR DOW JONES US TELE-COMM 168,378 160,650
    1300 INTERNATIONAL BUSINESS MACHINES 114,005 239,044
    155 GOOGLE INC CL A 53,360 100,114
    8510 GENERAL ELECTRIC CORP 206,243 152,414
    3300 EXXON MOBIL CORP 214,150 279,708
    3281 CONOCOPHILLIPS 105,934 239,086
    3000 COCA COLA ENTERPRISES INC 60,150 77,340
    1600 CHUBB CORP 76,728 110,752
    3175 ASTRAZENECA PLC 143,078 146,971
    725 APPLE INC 89,563 293,625
    2025 AMGEN INC 107,235 130,025

    TY 2011 InvestmentsOtherSchedule2
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    75526.262 PIMCO COMM REALRETURN STRATEGY AT COST 616,776 493,942
    8071.962 WT MUT CRM MID CAP VALUE FUND AT COST 226,000 213,665
    8755.200 COLUMBIA ACORN FUND AT COST 246,552 241,293

    TY 2011 OtherExpensesSchedule
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE SUPPLIES & POSTAGE 204     204
    MISCELLANOUS 298     298
    MEMBERSHIP FEES 2,835     2,835
    ILLINOIS FILING FEES 45      
    DISTRICT OF COLUMBIA FEES 172      
    DIRECTORS INSURANCE 1,628     1,628
    DC FOREIGN REP & IL REPORT FEES 521      


    TY 2011 OtherIncomeSchedule2
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PRIOR YEAR GRANT RECOVERY 8    


    TY 2011 OtherIncreasesSchedule
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Description Amount
    TAX DIFFERENCE ADJUSTMENT 23,833


    TY 2011 OtherProfessionalFeesSchedule
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXECUTIVE MANAGEMENT & CONSULTING FEES 84,000 0 0 84,000
    BANK INVESTMENT MANAGEMENT FEES 40,092 40,092 0 0


    TY 2011 TaxesSchedule
    Name:
    THE PALMER FOUNDATION
    EIN: 36-3700897
    Software ID:11000144
    Software Version:2011v1.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX 3,146 3,146    
    EXCISE TAX 29,604