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 07-01-2011 , and ending 06-30-2012
G
Check all that apply:
Name of foundation
Maybelle Clark Macdonald Fund
 

Number and street (or P.O. box number if mail is not delivered to street address)PO Box 1496   Room/suite
City or town, state, and ZIP code
Bend, OR97709
A Employer identification number

23-7108002
B Telephone number (see page 10 of the instructions)

(541) 728-0848
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$117,897,772J 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) 325,000
2 Check bullet
3 Interest on savings and temporary cash investments 197 197  
4 Dividends and interest from securities...... 3,073,268 3,073,268  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 5,399,416
b Gross sales price for all assets on line 6a 69,331,139
7 Capital gain net income (from Part IV, line 2)... 5,399,416
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 17,152 0  
12 Total. Add lines 1 through 11........ 8,815,033 8,472,881  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 262,600 131,300   131,300
14 Other employee salaries and wages...... 70,812 35,406   35,406
15 Pension plans, employee benefits....... 149,604 74,802   74,802
16a Legal fees (attach schedule)......... Click to see attachment 11,917 0   11,917
b Accounting fees (attach schedule)....... Click to see attachment 3,500 0   3,500
c Other professional fees (attach schedule).... Click to see attachment 629,935 618,086   11,849
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 54,822 0   0
19 Depreciation (attach schedule) and depletion... 21,406 10,703  
20 Occupancy.............. 12,984 6,492   6,492
21 Travel, conferences, and meetings....... 19,162 9,581   9,581
22 Printing and publications.......... 914 457   457
23 Other expenses (attach schedule)....... Click to see attachment 36,995 18,497   18,498
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,274,651 905,324   303,802
25 Contributions, gifts, grants paid........ 4,952,774 4,952,774
26 Total expenses and disbursements. Add lines 24 and 25 6,227,425 905,324   5,256,576
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,587,608
b Net investment income (if negative, enter -0-) 7,567,557
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.......... 1,683,091 512,908 512,908
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet       0
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) bullet480,000
Less: allowance for doubtful accounts bullet0 500,000 480,000 480,000
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 14,030,802 Click to see attachment12,168,800 12,502,692
b Investments—corporate stock (attach schedule)........ 54,982,408 Click to see attachment50,809,311 60,815,628
c Investments—corporate bonds (attach schedule)........ 20,694,428 Click to see attachment27,465,622 26,983,145
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 12,039,121 Click to see attachment15,099,475 16,260,514
14 Land, buildings, and equipment: basis bullet342,885
Less: accumulated depreciation (attach schedule) bullet41,380 320,163 Click to see attachment301,505 342,885
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 104,250,013 106,837,621 117,897,772
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 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................... 104,250,013 106,837,621
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 104,250,013 106,837,621
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 104,250,013 106,837,621
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)............... 1 104,250,013
2 Enter amount from Part I, line 27a..................... 2 2,587,608
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 106,837,621
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 106,837,621
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 Publicly Traded Investments      
b Morgan Creek Absolute Return Fund LTD P    
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 69,067,029   63,576,201 5,490,828
b 264,110   355,522 -91,412
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       5,490,828
b       -91,412
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 5,399,416
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 5,903,553 116,514,080 0.050668
2009 5,675,881 110,870,833 0.051194
2008 7,275,694 107,065,343 0.067956
2007 8,268,512 142,637,384 0.057969
2006 7,805,832 144,752,458 0.053925
2 Total of line 1, column (d) ...................... 2 0.281712
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 0.056342
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 114,852,913
5 Multiply line 4 by line 3....................... 5 6,471,043
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 75,676
7 Add lines 5 and 6......................... 7 6,546,719
8 Enter qualifying distributions from Part XII, line 4.............. 8 5,257,950
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 1 151,351
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 0
3 Add lines 1 and 2............................ 3 151,351
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- ..... 5 151,351
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 40,000
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 40,000
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 482
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 111,833
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet   Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletOR
    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 addressbullethttp://www.mcmfund.org
    14
    The books are in care ofbulletMonique McCleary Telephone no.bullet (541) 728-0848
    Located atbulletPO Box 1496BendOR ZIP+4bullet97709
    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
     
     
    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
     
     
    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
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (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
    Clark C Munro Chairman
    20.00     		95,200 13,986 0
    PO Box 1496
    Bend,OR97709
    Monique M McCleary President
    30.00     		157,900 23,310 0
    PO Box 1496
    Bend,OR97709
    Janeen Mcaninch Treasurer
    4.00     		0 0 0
    PO Box 1496
    Bend,OR97709
    Clark C Munro Jr Director
    1.00     		2,500 0 0
    PO Box 1496
    Bend,OR97709
    Warner R Munro Director
    1.00     		2,500 0 0
    PO Box 1496
    Bend,OR97709
    Gene D'Autremont Director
    2.00     		1,000 0 0
    PO Box 1496
    Bend,OR97709
    Christopher R Munro Director
    1.00     		1,000 0 0
    PO Box 1496
    Bend,OR97709
    Maurie M Munro Director
    1.00     		2,500 0 0
    PO Box 1496
    Bend,OR97709
    Gary Branden Director
    2.00     		0 0 0
    PO Box 1496
    Bend,OR97709
    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 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
    Morgan Stanley Investment advisory 194,302
    1001 SW Fifth Avenue
    Portland,OR97204
    Union Bank Investment advisory 150,052
    407 SW Broadway
    Portland,OR97205
    Becker Capital Management Investment advisory 133,072
    1211 SW Fifth Avenue
    Portland,OR97204
    Wells Fargo Investment advisory 128,807
    1300 SW Fifth Avenue
    Portland,OR97201
    Total number of others receiving over $50,000 for professional services.............bullet0
    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..........................bullet0
    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
    115,545,901
    b
    Average of monthly cash balances.......................
    1b
    403,252
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    652,789
    d
    Total (add lines 1a, b, and c).........................
    1d
    116,601,942
    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
    0
    3
    Subtract line 2 from line 1d.........................
    3
    116,601,942
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    1,749,029
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    114,852,913
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    5,742,646
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    5,742,646
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    151,351
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    151,351
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,591,295
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    5,591,295
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    5,591,295
    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
    5,256,576
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    1,374
    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
    5,257,950
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    5,257,950
    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 5,591,295
    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....... 758,177
    b From 2007....... 1,240,737
    c From 2008....... 1,968,493
    d From 2009....... 176,242
    e From 2010....... 148,495
    fTotal of lines 3a through e......... 4,292,144
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 5,257,950
    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..... 5,257,950
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2011. 333,345 333,345
    (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 3,958,799
    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) .............     		424,832
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		3,533,967
    10 Analysis of line 9:
    a Excess from 2007.... 1,240,737
    b Excess from 2008.... 1,968,493
    c Excess from 2009.... 176,242
    d Excess from 2010.... 148,495
    e Excess from 2011....  
    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).)
    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
    Abbey Foundation
    1 Abbey Drive
    St Benedict,OR97373     		  509(a) Pastoral Formation Program 25,000
    Albertina Kerr Centers Foundation
    424 NE 22nd Avenue
    Portland,OR97232     		  509(a) General operating support 50,000
    ALS Association Oregon and Southwest Washington Chapter
    700 NE Multnomah Street
    Portland,OR97232     		  509(a) General Operating support 5,000
    American Red Cross
    3131 N Vancouver Avenue
    Portland,OR97227     		  509(a) General operating support 100,000
    American Rivers
    320 SW Stark Street
    Portland,OR97204     		  509(a) Oregon Sourcewaters Project 20,000
    Archbishop Howard School
    5309 NE Alameda
    Portland,OR97213     		  509(a) Covered playground and Outdoor learning project 5,000
    Archdiocese of Portland in Oregon
    2838 E Burnside Street
    Portland,OR97214     		  509(a) General operating support 50,000
    Artists Repertory Theatre
    1515 SW Morrison Street
    Portland,OR97205     		  509(a) General operating support 15,000
    Baker City Police Department
    1768 Auburn Avenue
    Baker City,OR97814     		  509(a) Canine Drug Detection 7,000
    Beach School PTA
    1710 N Humboldt Street
    Portland,OR97217     		  509(a) After school enrichment 22,500
    Bend Science Station
    1027 NW Trenton Avenue
    Bend,OR97701     		  509(a) General operating support 5,000
    Blanchet House of Hospitality
    615 NW 18th Avenue
    Portland,OR97209     		  509(a) Capital projects 50,000
    Boys & Girls Clubs of Central Oregon
    500 NW Wall Street
    Bend,OR97701     		  509(a) Richland Relocation 50,000
    Boys & Girls Clubs of Portland
    PO Box 820127
    Portland,OR97282     		  509(a) Youth of the Year scholarship awards $3,000, Night of Angels sponsorship $10,000 13,000
    Boys and Girls Aid Society of Oregon
    018 SW Boundary Ct
    Portland,OR97239     		  509(a) Endowment support 50,000
    Bridge Meadows
    PO Box 4582
    Portland,OR97208     		  509(a) General operating support 27,500
    The Buckman School Foundation
    4806 NE 21st Street
    Portland,OR97211     		  509(a) General operating support 5,000
    Caldera
    224 NW 13th Avenue
    Portland,OR97209     		  509(a) General operating support 50,000
    Calvary Chapel
    9100 SW Wilshire Street
    Portland,OR97225     		  509(a) General operating support 50,000
    Camps for Kids
    5075 SW 91st Avenue
    Portland,OR97225     		  509(a) General Operating Support 10,000
    CASA for Children Inc
    1401 NE 68th Avenue
    Portland,OR97213     		  509(a) General operating support 10,000
    Catholic Charities
    2740 SE Powell Blvd
    Portland,OR97202     		  509(a) Center for Hope capital campaign 275,000
    Central Catholic High School
    2401 SE Stark Street
    Portland,OR97214     		  509(a) Campus Renovation $50,000, Financial aid $11,300 61,300
    Central Oregon Junior Golf Association
    PO Box 6975
    Bend,OR97708     		  509(a) General operating support 1,000
    Central Oregon Outreach
    PO Box 5223
    Bend,OR97708     		  509(a) Capital Campaign 12,500
    Chess for Success
    2701 NW Vaughn Street
    Portland,OR97210     		  509(a) General operating support 10,000
    The Children's Course
    19825 River Road
    Gladstone,OR97027     		  509(a) General operating support 20,000
    Children's Healing Art Project
    25 NW 23rd Place
    Portland,OR97210     		  509(a) Capacity Building 10,000
    The Children's Hospital Legacy Emanuel
    PO Box 4484
    Portland,OR97208     		  509(a) General operating support 5,000
    Children's Institute
    1221 SW Yamhill Street
    Portland,OR97205     		  509(a) General operating support 50,000
    Children's Trust Fund of Oregon
    1785 NE Sandy Blvd
    Portland,OR97232     		  509(a) General operating support 20,000
    Columbia Memorial Hospital Foundation
    2111 Exchange Street
    Astoria,OR97103     		  509(a) Operational support 5,000
    Community Warehouse
    3969 NE Martin Luther King Jr Blvd
    Portland,OR97212     		  509(a) Garage sale store $18,000 General operating support $10,000 28,000
    Concordia University Foundation
    2811 NE Holman Street
    Portland,OR97211     		  509(a) Concordia University & Community Athletic Complex $100,000, Nursing program $25,000 Student Athletes $2,500 127,500
    Cornish College of the Arts
    1000 Lenora Street
    Seattle,WA98121     		  509(a) Visual Arts Visiting Artist Residencies 5,000
    De Paul Industries
    4950 NE Martin Luther King Jr Blvd
    Portland,OR97211     		  509(a) General operating support 106,000
    De Paul Treatment Center
    PO Box 3007
    Portland,OR97208     		  509(a) General operating support 75,000
    Deschutes Basin Land Trust
    20 NW Irving Avenue
    Bend,OR97701     		  509(a) General operating support 50,000
    Diocese of Eastern Oregon
    601 Union Street
    The Dalles,OR97058     		  509(a) General operating support 1,000
    Dress for Success Oregon
    1532 NE 37th Avenue
    Portland,OR97212     		  509(a) General operating support 10,000
    Duck Athletic Fund
    2727 Leo Harris Parkway
    Eugene,OR97401     		  509(a) Basketball and Baseball coaches discretionary funds 2,000
    First Growth Children and Family Charities
    1001 SE Sandy Blvd
    Bend,OR97214     		  509(a) General operating support 25,000
    First Story
    936 SW Simpson Avenue
    Bend,OR97702     		  509(a) Heart of Oregon low income home 26,500
    Forest Park Conservancy
    1507 NW 23rd Avenue
    Portland,OR97210     		  509(a) General operating support 25,000
    Friendly House
    2617 NW Savier Street
    Portland,OR97210     		  509(a) General operating support 22,500
    Friends of the Children
    44 NE Morris
    Portland,OR97212     		  509(a) Sponsorship 17,000
    Friends of Haystack Rock
    PO Box 1222
    Cannon Beach,OR97110     		  509(a) General operating support 2,500
    Friends of Trees
    3117 NE Martin Luther King Jr Blvd
    Portland,OR97212     		  509(a) General operating support 5,000
    George Fox University
    414 N Meridian Street
    Newberg,OR97132     		  509(a) Pediatric behavioral health programs 15,000
    Girls Inc of Northwest Oregon
    105 SE Taylor Street
    Portland,OR97214     		  509(a) General operating support 10,000
    Grace Episcopal Church
    411 10th Avenue S
    Nampa,ID83561     		  509(a) To purchase a bus 15,000
    Grandma's House of Central Oregon
    PO Box 6372
    Bend,OR97708     		  509(a) Renovation project 33,524
    Habitat for Humanity
    PO Box 11527
    Portland,OR97211     		  509(a) World of Hope Campaign 25,000
    Holy Cross Catholic School
    5202 N Bowdoin
    Portland,OR97203     		  509(a) Tuition Assistance 50,000
    Holy Redeemer Catholic School
    25 N Rosa Parks Way
    Portland,OR97217     		  509(a) Financial Assistance and Cultural Outreach 50,000
    Human Solutions
    12350 SE Powell Blvd
    Portland,OR97236     		  509(a) Safe Housing for Homeless Families 40,000
    Humane Society of Redmond
    1355 NE Hemlock Avenue
    Redmond,OR97756     		  509(a) General operating support 9,000
    I have a Dream Foundation
    1478 NE Killingsworth Street
    Portland,OR97211     		  509(a) General operating support 5,000
    Incight
    310 SW 4th Avenue
    Portland,OR97204     		  509(a) General operating support 25,000
    Jesuit High School
    9000 SW Beaverton-Hillsdale Highway
    Portland,OR97225     		  509(a) Financial Aid 20,000
    Jesuit High School Alumni
    9000 SW Beaverton-Hillsdale Highway
    Portland,OR97225     		  509(a) Alumni food drive 10,000
    Kenton Action Plan
    2209 N Schofield Street
    Portland,OR97217     		  509(a) General operating support 15,000
    La Pine Park and Recreation Foundation
    16405 1st Street
    La Pine,OR97739     		  509(a) School Renovation 50,000
    Lasalle High School
    7520 N Fenwick Avenue
    Portland,OR97217     		  509(a) General operating support 13,500
    Leukemia & Lymphoma Society
    9320 SW Barbur Blvd
    Portland,OR97219     		  509(a) General operating support 3,000
    Literary Arts
    224 NW 13th Avenue
    Portland,OR97209     		  509(a) Portland Art and Lecture Series 10,000
    Loaves and Fishes
    7710 SW 31st Avenue
    Portland,OR97219     		  509(a) General operating support 50,000
    Macdonald Center
    605 NW Couch Street
    Portland,OR97209     		  509(a) Main floor upgrade project $52,500, General support $141,000 193,500
    Madras Aquatic Center Foundation
    1195 SE Kemper Way
    Madras,OR97741     		  509(a) Education Outreach 15,000
    Marylhurst University
    17600 Pacific Highway
    Marylhurst,OR97036     		  509(a) General operating support 10,000
    Medical Teams International
    14150 SW Milton Ct
    Tigard,OR97224     		  509(a) General operating support 100,000
    Morrison Child and Family Services
    9911 SE Mt Scott Blvd
    Portland,OR97266     		  509(a) General operating support 8,000
    Mt Bachelor Sports Education Foundation
    563 SW 13th Street
    Bend,OR97702     		  509(a) Scholarships 1,000
    Northwest Catholic Counseling Center
    8383 NE Sandy Blvd
    Portland,OR97220     		  509(a) General operating support 26,000
    NORTHWEST PORTLAND MINISTRIES
    2701 NW Vaughn Street
    Portland,OR97210     		  509(a) Purchase of Transit Connect Vehicle 25,000
    Oregon Ballet Theatre
    818 SE 6th Avenue
    Portland,OR97214     		  509(a) Access and awareness 20,000
    Oregon Club of Central Oregon
    PO Box 1461
    Bend,OR97709     		  509(a) Student Athlete support 7,000
    Oregon Coast Aquarium
    2820 SE Ferry Slip Road
    Newport,OR97365     		  509(a) Sea and Me exhibit 10,000
    Oregon Food Bank
    PO Box 55370
    Portland,OR97238     		  509(a) General operating support 110,000
    Oregon Health & Science University Foundation
    1121 SW Salmon Street
    Portland,OR97205     		  509(a) Mobile Vision Screening 62,500
    Oregon Historical Society
    1200 SE Park Avenue
    Portland,OR97205     		  509(a) Oregon: Yours, Mine and Ours 25,000
    Oregon Interscholastic Ski Racing Association
    1067 W 18th Place
    Eugene,OR97402     		  509(a) General operating support 1,600
    OREGON JUNIOR GOLF Fund
    2840 Hazelnut Drive
    Woodburn,OR97071     		  509(a) General operating support 25,000
    Oregon Mentors
    1221 SW Yamhill Street
    Portland,OR97205     		  509(a) Capacity Building 10,000
    Oregon Rush Soccer Club
    PO Box 8340
    Bend,OR97708     		  509(a) General operating support 1,000
    Oregon State University Foundation
    850 SW 35th Street
    Corvallis,OR97333     		  509(a) Teaching Excellence in Forestry Professor Fund $100,000, New recruitments $50,000, Basketball practice Facility $50,000 200,000
    Oregon Symphony Association
    921 SW Washington Street
    Portland,OR97205     		  509(a) Viola Chair endowment 40,000
    Outside In
    1132 SW 13th Street
    Portland,OR97205     		  509(a) General operating support 25,000
    Pacific Northwest College of Art
    1241 NW Johnson Street
    Portland,OR97209     		  509(a) Main Campus Center Campaign 343,000
    Pacific University
    2043 College Way
    Forest Grove,OR97116     		  509(a) General operating support 4,000
    The Pangaea Project
    2736 NE Martin Luther King Jr Blvd
    Portland,OR97212     		  509(a) General operating support 30,000
    Ponderosa Elementary PTA
    3790 NE Purcell Boulevard
    Bend,OR97701     		  509(a) General operating support 44,000
    The Pongo Fund
    PO Box 8244
    Portland,OR97207     		  509(a) General operating support 2,900
    Portland Art Museum
    1219 SW Park Avenue
    Portland,OR97205     		  509(a) General operating support 37,500
    Portland Children's Museum
    4015 SW Canyon Roas
    Portland,OR97221     		  509(a) Outdoor Adventure program 75,000
    Portland Opera
    211 SE Caruthers
    Portland,OR97214     		  509(a) General operating support 40,000
    Portland Rescue Mission
    1507 NE 122nd Avenue
    Portland,OR97230     		  509(a) Capacity expansion 30,000
    Portland State University Foundation
    PO Box 243
    Portland,OR97207     		  509(a) Scholarship challenge 85,000
    Providence Child Center Foundation
    830 NE 47th Avenue
    Portland,OR97213     		  509(a) General operating support 50,000
    Providence Portland Medical Foundation
    4805 NE Glisan Street
    Portland,OR97213     		  509(a) Cancer Research 250,000
    RE Jewell Elementary PTA
    20550 Murphy Road
    Bend,OR97702     		  509(a) Computers for First Grade 30,000
    Raphael House of Portland
    4110 SE Hawthorne Blvd
    Portland,OR97214     		  509(a) General operating support 50,000
    Robert Gray Middle School PTA
    5505 SW 23rd Avenue
    Portland,OR97239     		  509(a) Music department 3,000
    Sagebrush Classic Inc
    70 SW Century Drive
    Bend,OR97702     		  509(a) General operating support 62,000
    Salvation Army of Marion and Polk Counties
    PO Box 7047
    Salem,OR97303     		  509(a) General operating support 50,000
    Self Enhancement Inc
    3920 N Kerby Avenue
    Portland,OR97227     		  509(a) General operating support 7,000
    Sequim Community Aid
    PO Box 1591
    Sequim,WA98382     		  509(a) General operating support 10,000
    Serenity Homes of Oregon
    7327 SW Barnes Road
    Portland,OR97225     		  509(a) General operating support 50,000
    Sisters High School PTA
    1700 W McKinely Butte Road
    Sisters,OR97759     		  509(a) General operating funds 1,000
    Sisters Schools Foundation
    PO Box 2155
    Sisters,OR97759     		  509(a) Community schools grants 35,000
    Spay to Save
    454 Striped Peak Road
    Port Angeles,WA98363     		  509(a) Low cost spay and neuter service for low income residents 10,000
    St Andrew Nativity School
    4925 NE 9th Avenue
    Portland,OR97211     		  509(a) Graduate support program 50,000
    ST Elizabeth Ann Seton Catholic School
    2016 Willis Lane
    Keller,TX76248     		  509(a) Interactive projector and library support 42,700
    St Mary's Academy
    1615 SW Fifth Avenue
    Portland,OR97201     		  509(a) Financial aid 30,000
    St Michael the Archangel Church
    424 SW Mill Street
    Portland,OR97201     		  509(a) Social service programs 18,000
    ST Patrick Catholic Church
    PO Box 91652
    Portland,OR97291     		  509(a) General operating support 5,750
    St Stephen's Episcopal Parish
    1432 SW 13th Avenue
    Portland,OR97201     		  509(a) General operating support 5,000
    St Vincent De Paul of La Pine
    PO Box 1008
    La Pine,OR97739     		  509(a) General operating support 15,000
    Texas Woman's University
    PO Box 425739
    Denton,TX76204     		  509(a) After school program 7,300
    The Geezer Gallery
    7710 SW 31st Avenue
    Portland,OR97219     		  509(a) General operating support 15,000
    Toledo Community Boathouse
    285 NW 1st Street
    Toledo,OR97391     		  509(a) Boathouse project 20,000
    Transition Projects Inc
    475 NW Glisan
    Portland,OR97209     		  509(a) General operating support 28,000
    Trillium Family Services
    3415 SE Powell Blvd
    Portland,OR97202     		  509(a) Parry Center Healing Environment Fund 25,000
    United Way of Deschutes County
    PO Box 5969
    Bend,OR97708     		  509(a) General operating support 27,000
    University of Oregon Foundation
    360 E 10th Avenue
    Eugene,OR97401     		  509(a) Academic and Athletic Scholarships 170,000
    Valley Catholic High School
    4440 SW 148th Avenue
    Beaverton,OR97007     		  509(a) Tuition Assistance 20,000
    Volunteer Hospice of Clallam County
    504 E 8th Street
    Port Angeles,WA98362     		  509(a) General operating support 10,000
    Wallace Medical Concern
    254 NW Burnside
    Gresham,OR97030     		  509(a) Primary Care Expansion 25,000
    Welfare for Animals Guild
    72 Bonneville Lane
    Sequim,WA98382     		  509(a) General operating support 10,000
    World Affairs Council of Oregon
    1200 SW Park Avenue
    Portland,OR97205     		  509(a) General operating support 20,000
    World Forestry Center
    4033 SW Canyon
    Portland,OR97221     		  509(a) Wildlife Appreciation 5,000
    YMCA
    9500 SW Barbur Blvd
    Portland,OR97219     		  509(a) General operating support 20,000
    YOUNG Audiences of Oregon
    1120 SW Morrison Street
    Portland,OR97205     		  509(a) Capacity Building 20,000
    Youth Villages
    PO Box 368
    Marylhurst,OR97036     		  509(a) General operating support 7,200
    YWCA of Greater Portland
    1111 SW 10th Avenue
    Portland,OR97205     		  509(a) General operating support 75,000
    Total .................................bullet 3a 4,952,774
    bApproved for future payment
    AMERICAN Rivers
    320 SW Stark Street
    Portland,OR97204     		  509(a) Oregon Sourcewaters Project 25,000
    Archdiocese of Portland in Oregon
    2838 E Burnside Street
    Portland,OR97214     		  509(a) General operating Support 200,000
    Blanchet House of Hospitality
    615 NW 18th Avenue
    Portland,OR97209     		  509(a) Capital campaign support 100,000
    Boys & Girls Aid Society of Oregon
    018 SW Boundary Ct
    Portland,OR97239     		  509(a) Endowment Support 150,000
    Boys & Girls Clubs of Central Oregon
    500 NW Wall Street
    Bend,OR97701     		  509(a) Redmond Relocation 200,000
    Boys & Girls Clubs of Portland
    PO Box 820127
    Portland,OR97282     		  509(a) Youth of the Year Scholarship 6,000
    Bridge Meadows
    PO Box 4582
    Portland,OR97208     		  509(a) General operating support 25,000
    Calvary Chapel
    9100 SW Wilshire Street
    Portland,OR97225     		  509(a) General operating support 175,000
    Catholic Charities
    2740 SE Powell Blvd
    Portland,OR97202     		  509(a) Capital Campaign $750,000, Housing Transitions Program $50,000, General operating funds $50,000 850,000
    Columbia Memorial Hospital Foundation
    2111 Exchange Street
    Astoria,OR97103     		  509(a) General operating support 10,000
    Concordia University Foundation
    2811 NE Holman Street
    Portland,OR97211     		  509(a) CUCAC Athletic Complex $200,000, Nursing Program $25,000 225,000
    The Dougy Center
    PO Box 86852
    Portland,OR97286     		  509(a) Capital campaign 100,000
    Forest Park Conservancy
    1507 NW 23rd Avenue
    Portland,OR97210     		  509(a) Campaign for Forest Park 20,000
    Foundations for a Better Oregon
    221 NW 2nd Avenue
    Portland,OR97209     		  509(a) General operating support 75,000
    Friends of the Children
    44 NE Morris
    Portland,OR97212     		  509(a) General operating support 59,500
    Frontline Foundation
    PO Box 9422
    Bend,OR97708     		  509(a) General Operating Support 5,000
    George Fox University
    414 N Meridian Street
    Newberg,OR97132     		  509(a) Pediatric Behavioral Health 10,000
    Girls Inc of Northwest Oregon
    105 SE Taylor Street
    Portland,OR97214     		  509(a) General operating support 10,000
    Heart of Oregon Corps
    PO Box 279
    Bend,OR97709     		  509(a) General operating support 90,000
    Holy Cross Area School
    5202 N Bowdoin
    Portland,OR97203     		  509(a) General operating support 1,000
    I have a Dream Foundation
    1478 NE Killingsworth Street
    Portland,OR97211     		  509(a) Middle and High project to support low income and minority youths 25,000
    Imago
    PO Box 15182
    Portland,OR97293     		  509(a) General operating support 2,500
    LaSalle High School
    7520 N Fenwick Avenue
    Portland,OR97217     		  509(a) Financial aid 40,500
    Loaves and Fishes
    7710 SW 31st Avenue
    Portland,OR97219     		  509(a) General operating support 50,000
    Macdonald Center
    605 NW Couch Street
    Portland,OR97209     		  509(a) Main floor upgrade 52,000
    Marylhurst University
    17600 Pacific Highway
    Marylhurst,OR97036     		  509(a) General operating support 10,000
    Medical Teams International
    14150 SW Milton Ct
    Tigard,OR97224     		  509(a) General operating support 25,000
    Morrison Child and Family Services
    9911 SE Mt Scott Blvd
    Portland,OR97266     		  509(a) General operating support 8,000
    Mt Bachelor Sports Education Foundation
    563 SW 13th Street
    Bend,OR97702     		  509(a) Financial assistance fund 8,000
    Northwest Catholic Counseling Center
    8383 NE Sandy Blvd
    Portland,OR97220     		  509(a) Expand Pyschotropic Medication 25,000
    Oregon Food Bank
    PO Box 55370
    Portland,OR97238     		  509(a) Emergency Food 50,000
    Oregon Institue of Technology
    3210 Campus Drive
    Klamath Falls,OR97601     		  509(a) General operating funds for Wilsonville campus 150,000
    Oregon Mentors
    1221 SW Yamhill Street
    Portland,OR97205     		  509(a) General operating support 10,000
    Oregon State University Foundation
    850 SW 35th Street
    Corvallis,OR97333     		  509(a) Endowment for Professor of Forestry $750,000, Basketball practice facility $250,000 1,000,000
    Oregon Symphony Association
    921 SW Washington Street
    Portland,OR97205     		  509(a) Viola Chair endowment 100,000
    Portland Institute for Contemporary Art
    2224 NW 13th Ave
    Portland,OR97209     		  509(a) General operating support 25,000
    Portland Opera
    211 SE Caruthers
    Portland,OR97214     		  509(a) General operating support 480,000
    Portland Summerfest
    PO Box 4084
    Portland,OR97208     		  509(a) Opera in the Park 3,000
    Pregnancy Resource Center of Central Oregon
    PO Box 8208
    Bend,OR97708     		  509(a) General operating support 5,000
    Prepare the Way
    PO Box 2557
    Glendale,AZ85311     		  509(a) Christian youth summit support 5,000
    Providence Portland Medical Foundation
    4805 NE Glisan Street
    Portland,OR97213     		  509(a) Cancer research 50,000
    Richmond Elementary PTA
    2276 SE 41st Street
    Portland,OR97214     		  509(a) General operating support 1,000
    Salvation Army of Marion and Polk Counties
    PO Box 7047
    Salem,OR97303     		  509(a) General operating support 63,800
    Sherwood Youth Football Association
    PO Box 92
    Sherwood,OR97140     		  509(a) No pay to play program 4,000
    Sisters Schools Foundation
    PO Box 2155
    Sisters,OR97759     		  509(a) General operating support 35,000
    Southside Soccer Club
    16285 SW 85th Avenue
    Tigard,OR97224     		  509(a) Scholarship program 3,000
    ST CHARLES Foundation
    2500 NE Neff Road
    Bend,OR97701     		  509(a) Nurse Navigator program 50,000
    ST Stephen's Episcopal Parish
    PO Box 91652
    Portland,OR97201     		  509(a) General operating support 5,000
    University of Oregon Foundation
    360 E 10th Avenue
    Eugene,OR97401     		  509(a) Athletic and Academic Scholarships 750,000
    Valley Catholic High School
    4440 SW 148th Avenue
    Beaverton,OR97007     		  509(a) Financial Aid 80,000
    Virginia Garcia Memorial Foundation
    PO Box 486
    Cornelius,OR97713     		  509(a) Cornelius wellness center 100,000
    Youth Villages
    PO Box 368
    Marylhurst,OR97306     		  509(a) General operating support 115,000
    YMCA
    1111 SW 10th Avenue
    Portland,OR97205     		  509(a) Yolanda House operating support 25,000
    Total .................................bullet 3b 5,692,300
    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     14 197  
    4 Dividends and interest from securities....     14 3,073,268  
    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 5,399,416  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aRefunds     01 17,152  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 8,490,033 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    138,490,033
    (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:  
    Software Version:  


    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
    Maybelle Clark Macdonald Fund
     
    Employer identification number

    23-7108002
    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
    Maybelle Clark Macdonald Fund
          		Employer identification number

    23-7108002
    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
     
     

    Maybelle Clark Macdonald Trust    
    PO Box 1450
       
    Minneapolis, MN   55485

    		$325,000




    (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
    Maybelle Clark Macdonald Fund
          		Employer identification number

    23-7108002
    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
    1
    		 Shares of Limited Partnership   $325,000 2012-01-20
    (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
    Maybelle Clark Macdonald Fund
          		Employer identification number

    23-7108002
    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:  
    Software Version:  

    TY 2011 AccountingFeesSchedule
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Central Oregon Tax Connection 3,500 0   3,500

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Name of Bond End of Year Book Value End of Year Fair Market Value
    Investments 27,465,622 26,983,145

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Name of Stock End of Year Book Value End of Year Fair Market Value
    Investments 50,809,311 60,815,628

    TY 2011 InvestmentsGovtObligationsSch
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    US Government Securities - End of Year Book Value:

    12,168,800
    US Government Securities - End of Year Fair Market Value:

    12,502,692
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2011 InvestmentsOtherSchedule2
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    Investments AT COST 15,099,475 16,260,514

    TY 2011 LandEtcSchedule2
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Office building 279,245 11,782 267,463 279,245
    Building improvements 3,300 1,375 1,925 3,300
    Office equipment 35,628 17,346 18,282 35,628
    Office furniture 24,712 10,877 13,835 24,712


    TY 2011 LegalFeesSchedule
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Thede Culpepper Moore Munro & Silliman 11,917 0   11,917


    TY 2011 OtherExpensesSchedule
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank charges 811 406   405
    Dues and subscriptions 391 195   196
    Insurance 15,316 7,658   7,658
    Internet access 729 364   365
    Other office expenses 7,141 3,570   3,571
    Postage 2,376 1,188   1,188
    Seminar fees 127 63   64
    Rent of equipment 5,825 2,913   2,912
    State charity registration fees 1,200 600   600
    Janitorial services 1,560 780   780
    Property taxes 1,519 760   759


    TY 2011 OtherIncomeSchedule2
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Refunds 17,152   17,152


    TY 2011 OtherProfessionalFeesSchedule
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment advisory services - Becker Capital Management 133,072 133,072   0
    Investment advisory services - Morgan Stanley 194,305 194,305   0
    Investment advisory services - Union Bank 150,052 150,052   0
    Investment advisory services - Wells Fargo 128,807 128,807   0
    Computer support fees 18,000 9,000   9,000
    Website support fees 4,250 2,125   2,125
    Payroll Service Fees 1,449 725   724


    TY 2011 TaxesSchedule
    Name:
    Maybelle Clark Macdonald Fund
    EIN: 23-7108002
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Federal excise taxes 54,822 0   0