Form990-PF

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

Number and street (or P.O. box number if mail is not delivered to street address)C/O BBBT PO BOX 2907 - TRUST TAX   Room/suite
City or town, state, and ZIP code
WILSON, NC278942907
A Employer identification number

56-6456377
B Telephone number (see page 10 of the instructions)

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$3,776,972J 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)  
2 Check bullet
3 Interest on savings and temporary cash investments 3,750 3,750  
4 Dividends and interest from securities...... 87,277 87,277  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 157,709
b Gross sales price for all assets on line 6a 2,166,593
7 Capital gain net income (from Part IV, line 2)... 157,709
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 809 809  
12 Total. Add lines 1 through 11........ 249,545 249,545  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 51,284 51,284    
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 20 20   0
17 Interest...............       0
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 7,202     0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 10 10    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 58,516 51,314 0 0
25 Contributions, gifts, grants paid........ 188,772 188,772
26 Total expenses and disbursements. Add lines 24 and 25 247,288 51,314 0 188,772
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,257
b Net investment income (if negative, enter -0-) 198,231
c Adjusted net income (if negative, enter -0-)... 0
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2011)
Form 990-PF (2011)
Page 2
Part II Balance Sheets 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............... -37,496 -10,375 -10,375
2 Savings and temporary cash investments.......... 167,454 168,753 168,753
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 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) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 259,908    
b Investments—corporate stock (attach schedule)........ 3,213,910    
c Investments—corporate bonds (attach schedule)........ 168,656    
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 5,310 Click to see attachment3,646,187 3,618,594
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) 3,777,742 3,804,565 3,776,972
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......... 3,777,742 3,804,565
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).................... 3,777,742 3,804,565
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 3,777,742 3,804,565
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 3,777,742
2 Enter amount from Part I, line 27a..................... 2 2,257
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 25,246
4 Add lines 1, 2, and 3.......................... 4 3,805,245
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 680
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 3,804,565
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 250. COCA COLA COMPANY   2010-06-01 2011-01-05
b 5. GENERAL ELECTRIC COMPANY   2007-08-17 2011-01-05
c 5. INTERNATIONAL PAPER COMPANY   2010-07-26 2011-01-05
d 5. KRAFT FOODS INC-A COMMON   2007-06-15 2011-01-05
e 70. MICROSOFT CORPORATION   2009-06-30 2011-01-05
5. STATE STR CORP   2009-12-01 2011-01-05
5. SUNCOR ENERGY, INC   2010-02-03 2011-01-05
260. INTEL CORPORATION   2007-06-08 2011-01-14
285. METLIFE COMMON   2009-12-01 2011-01-14
160. STATE STR CORP   2010-04-16 2011-01-14
205. STATE STR CORP   2009-12-01 2011-01-14
455. VERIZON COMMUNICATIONS INC   2010-07-01 2011-01-14
210. COVIDIEN PLC   2010-08-12 2011-01-14
155. TYCO INTERNATIONAL LTD   2010-03-10 2011-01-14
230. TYCO ELECTRONICS LTD     2011-01-14
5. ALCOA INC   2010-12-20 2011-02-10
5. CVS CORP COMMON   2009-04-02 2011-02-10
5. GENERAL ELECTRIC COMPANY   2007-08-17 2011-02-10
5. INTEL CORPORATION   2007-06-08 2011-02-10
115. LOCKHEED MARTIN CORP   2009-12-31 2011-02-10
5. LOWES COMPANIES INCORPORATED   2010-12-01 2011-02-10
5. MERCK & CO INC   2007-06-08 2011-02-10
5. MORGAN STANLEY DEAN WITTER DIS CO   2010-02-16 2011-02-10
5. NOVARTIS AG     2011-02-10
5. PFIZER INCORPORATED   2010-02-03 2011-02-10
5. THE TRAVELERS COMPANIES INC.   2008-09-30 2011-02-10
925. UNILEVER PLC-SPONSORED ADR   2009-06-30 2011-02-10
150000. US TREASURY 5% DUE 2/15/2011   2007-06-11 2011-02-15
5. ABB LTD SPONSORED ADR   2009-09-22 2011-03-01
5. AT&T INC   2008-01-16 2011-03-01
5. ALCOA INC   2010-12-20 2011-03-01
95. AON CORPORATION COMMON   2010-12-20 2011-03-01
5. BANK OF AMER CORP COMMON   2010-05-24 2011-03-01
460. CVS CORP COMMON     2011-03-01
30. CVS CORP COMMON   2009-04-02 2011-03-01
50. CHEVRON TEXACO CORP COMMON   2008-09-30 2011-03-01
5. COMCAST CORP NEW CL A   2009-09-22 2011-03-01
5. CORNING INCORPORATED   2009-06-30 2011-03-01
5. DISNEY WALT COMPANY   2007-08-17 2011-03-01
5. EXXON MOBIL CORPORATION   2009-09-22 2011-03-01
5. J P MORGAN CHASE & CO   2009-09-22 2011-03-01
5. MEDTRONIC INC   2006-06-14 2011-03-01
5. METLIFE COMMON   2010-02-16 2011-03-01
5. ORACLE SYSTEM CORPORATION   2008-01-16 2011-03-01
5. UTILITIES SELECT SECTOR SPDR FUND   2010-02-16 2011-03-01
5. SOUTHWEST AIRLINES   2010-11-01 2011-03-01
5. STAPLES INC COMMON   2010-11-01 2011-03-01
5. WAL MART STORES INCORPORATED   2009-12-31 2011-03-01
5. TYCO INTERNATIONAL LTD   2010-03-10 2011-03-01
585. ABB LTD SPONSORED ADR   2009-09-22 2011-03-16
10. ALCOA INC   2010-12-20 2011-03-16
5. CHEVRON TEXACO CORP COMMON   2008-09-30 2011-03-16
125. DISNEY WALT COMPANY   2007-08-17 2011-03-16
5. FEDEX CORPORATION   2010-09-02 2011-03-16
10. GENERAL ELECTRIC COMPANY   2007-08-17 2011-03-16
5. INTEL CORPORATION   2007-06-08 2011-03-16
5. INTERNATIONAL PAPER COMPANY   2010-07-26 2011-03-16
5. KRAFT FOODS INC-A COMMON   2007-06-15 2011-03-16
240. LOWES COMPANIES INCORPORATED     2011-03-16
5. MICROSOFT CORPORATION   2009-06-30 2011-03-16
5. PFIZER INCORPORATED   2010-02-03 2011-03-16
10. SOUTHWEST AIRLINES   2010-11-01 2011-03-16
255. STRYKER CORP COMMON   2010-08-12 2011-03-16
5. TARGET CORP COM   2011-01-14 2011-03-16
5. WELLS FARGO & CO NEW   2008-03-24 2011-03-16
410. COVIDIEN PLC   2010-08-12 2011-03-16
5. TE CONNECTIVITY LTD   2010-03-10 2011-03-16
145. CENOVUS ENERGY INC.   2010-12-01 2011-04-15
40. CONOCOPHILLIPS COM     2011-04-15
110000. FED NATL MTG ASSN DTD 04/21/06 5.125% 04   2006-08-16 2011-04-15
360. INTEL CORPORATION   2007-06-08 2011-04-15
550. LOWES COMPANIES INCORPORATED   2010-09-27 2011-04-15
300. TYCO INTERNATIONAL LTD   2010-03-10 2011-04-15
5. ABB LTD SPONSORED ADR   2009-09-22 2011-05-06
10. ALCOA INC   2011-04-15 2011-05-06
35. AON CORPORATION COMMON   2010-12-20 2011-05-06
5. BANK OF AMER CORP COMMON   2010-05-24 2011-05-06
10. CISCO SYSTEMS   2003-10-29 2011-05-06
5. COMCAST CORP NEW CL A   2010-03-10 2011-05-06
5. CORNING INCORPORATED   2009-06-30 2011-05-06
5. DISNEY WALT COMPANY   2007-08-17 2011-05-06
5. EXXON MOBIL CORPORATION   2011-04-15 2011-05-06
375. EXXON MOBIL CORPORATION     2011-05-06
5. GENERAL ELECTRIC COMPANY   2007-08-17 2011-05-06
5. GENERAL ELECTRIC COMPANY   2007-08-17 2011-05-06
5. HEWLETT PACKARD COMPANY   2009-09-22 2011-05-06
55. INTERNATIONAL BUSINESS MACHINES CORP   2008-09-30 2011-05-06
5. J P MORGAN CHASE & CO   2009-09-22 2011-05-06
205. LOWES COMPANIES INCORPORATED   2010-09-27 2011-05-06
300. MEDTRONIC INC     2011-05-06
5. MERCK & CO INC   2007-06-08 2011-05-06
5. METLIFE COMMON   2010-02-16 2011-05-06
10. MICROSOFT CORPORATION   2009-06-30 2011-05-06
5. PEPSICO INCORPORATED   1995-08-24 2011-05-06
1120. PFIZER INCORPORATED     2011-05-06
5. PFIZER INCORPORATED   2011-04-15 2011-05-06
5. UTILITIES SELECT SECTOR SPDR FUND   2010-02-16 2011-05-06
10. SOUTHWEST AIRLINES   2010-11-01 2011-05-06
5. STAPLES INC COMMON   2010-11-01 2011-05-06
5. TARGET CORP COM   2011-01-14 2011-05-06
5. THERMO ELECTRON COMMON   2011-02-10 2011-05-06
5. WAL MART STORES INCORPORATED   2009-12-31 2011-05-06
130. ALCOA INC   2010-11-05 2011-06-01
130. AMERICAN EXPRESS COMPANY   2010-11-01 2011-06-01
4780.521 ARTISAN MID CAP VALUE #1464 CLD TO NEW I   2009-07-01 2011-06-01
80. BANK OF AMER CORP COMMON   2010-05-24 2011-06-01
120. CISCO SYSTEMS     2011-06-01
2753.813 FIDELITY ADVISOR SMALL CAP FUND INSTITUTIONAL CLASS FUND 298   2010-09-07 2011-06-01
2173.691 FIDELITY ADVISOR SMALL CAP FUND INSTITUTIONAL CLASS FUND 298     2011-06-01
4812.594 GOLDMAN SACHS MID CAP VALUE CL I FUND #   2010-11-01 2011-06-01
370.042 HARBOR INTERNATIONAL FUND   2007-05-10 2011-06-01
380. INTERNATIONAL PAPER COMPANY   2010-07-26 2011-06-01
1255. CEF ISHARES TR S&P     2011-06-01
1734.539 LAZARD EMERGING MKTS PORTFOLIO INST CLAS   2010-03-01 2011-06-01
70. LOCKHEED MARTIN CORP   2009-12-31 2011-06-01
4303.705 PIMCO COMMODITY REAL RETURN STRATEGY INS   2009-11-30 2011-06-01
140. SOUTHWEST AIRLINES   2010-12-20 2011-06-01
70. STAPLES INC COMMON   2010-09-02 2011-06-01
260. THERMO ELECTRON COMMON   2011-01-14 2011-06-01
310. WAL MART STORES INCORPORATED   2009-12-31 2011-06-01
5. AT&T INC   2011-04-15 2011-07-01
200. ABBOTT LABORATORIES     2011-07-01
180. AON CORPORATION COMMON   2010-12-20 2011-07-01
210. INTERNATIONAL PAPER COMPANY     2011-07-01
195. LOCKHEED MARTIN CORP     2011-07-01
240. MEDTRONIC INC   1999-02-18 2011-07-01
170. MICROSOFT CORPORATION   2010-08-13 2011-07-01
305. NOVARTIS AG     2011-07-01
140. PEPSICO INCORPORATED   1995-08-24 2011-07-01
221.5 PIMCO COMMODITY REAL RETURN STRATEGY INS   2009-11-30 2011-07-01
350. TARGET CORP COM   2010-07-01 2011-07-01
150. WAL MART STORES INCORPORATED     2011-07-01
60. AMERICAN EXPRESS COMPANY   2010-11-01 2011-07-08
90. AON CORPORATION COMMON   2010-12-20 2011-07-08
110. AON CORPORATION COMMON     2011-07-08
695. CARNIVAL CORP PAIRED CTF 1 COM   2011-05-06 2011-07-08
5. TARGET CORP COM   2010-07-26 2011-07-08
50. TARGET CORP COM   2010-07-01 2011-07-08
740. ABB LTD SPONSORED ADR     2011-09-01
120. ABBOTT LABORATORIES     2011-09-01
535. BANK OF AMER CORP COMMON   2010-09-02 2011-09-01
175. BANK OF AMER CORP COMMON   2011-04-15 2011-09-01
745. BANK OF AMER CORP COMMON   2010-05-24 2011-09-01
500. CENOVUS ENERGY INC.     2011-09-01
520. CISCO SYSTEMS     2011-09-01
755.645 DODGE & COX INCOME FUND   2009-12-31 2011-09-01
560. HEWLETT PACKARD COMPANY     2011-09-01
5. HEWLETT PACKARD COMPANY   2010-09-02 2011-09-01
150. HEWLETT PACKARD COMPANY   2011-03-16 2011-09-01
460. INTERNATIONAL PAPER COMPANY   2010-08-26 2011-09-01
360. KRAFT FOODS INC-A COMMON   2007-06-15 2011-09-01
1361.822 LAZARD EMERGING MKTS PORTFOLIO INST CLAS   2010-03-01 2011-09-01
490. MICROSOFT CORPORATION   2002-08-02 2011-09-01
1517.296 PIMCO PIMS FOREIGN BOND FUND   2009-12-31 2011-09-01
1095. STAPLES INC COMMON     2011-09-01
1600. ALCOA INC   2010-11-05 2011-10-03
36. APPLE COMPUTER CORPORATION COMMON   2010-05-14 2011-10-03
260. CENOVUS ENERGY INC.   2010-11-01 2011-10-03
310. DOW CHEMICAL COMPANY   2011-07-08 2011-10-03
340. ENSCO INTERNATIONAL PLC   2011-09-01 2011-10-03
305. MERCK & CO INC     2011-10-03
220. METLIFE COMMON   2009-12-01 2011-10-03
5843.715 PIMCO TOTAL RETURN FUND 35     2011-10-03
237.863 PIMCO TOTAL RETURN FUND 35   2011-06-01 2011-10-03
93.284 PIMCO TOTAL RETURN FUND 35   2009-09-22 2011-10-03
70. SCHLUMBERGER LTD   2008-08-29 2011-10-03
300. SOUTHWEST AIRLINES   2011-02-10 2011-10-03
120. SOUTHWEST AIRLINES   2010-09-02 2011-10-03
120. STAPLES INC COMMON   2010-11-01 2011-10-03
50. STAPLES INC COMMON   2011-03-16 2011-10-03
380. THERMO ELECTRON COMMON     2011-10-03
1971.007 VIRTUS QUALITY SMALL CAP FUND CL I FUND   2011-06-01 2011-10-03
220. TYCO INTERNATIONAL LTD   2011-09-01 2011-10-03
505. TYCO INTERNATIONAL LTD     2011-10-03
100. ABB LTD SPONSORED ADR   2010-05-14 2011-10-17
5. ABB LTD SPONSORED ADR   2011-04-15 2011-10-17
740. ALCOA INC   2010-11-05 2011-10-17
160. AMGEN INCORPORATED   2011-04-15 2011-10-17
1050. ARCHER DANIELS MIDLAND COMPANY   2011-10-03 2011-10-17
170. CENOVUS ENERGY INC.   2010-11-01 2011-10-17
60. CISCO SYSTEMS   2011-01-05 2011-10-17
550. CISCO SYSTEMS     2011-10-17
140. ENSCO INTERNATIONAL PLC   2011-09-01 2011-10-17
85. HEWLETT PACKARD COMPANY     2011-10-17
5. INTERNATIONAL PAPER COMPANY   2011-04-15 2011-10-17
85. INTERNATIONAL PAPER COMPANY   2010-08-26 2011-10-17
180. METLIFE COMMON     2011-10-17
860. MORGAN STANLEY DEAN WITTER DIS CO     2011-10-17
140. PEPSICO INCORPORATED   1995-08-24 2011-10-17
140. ST JUDE MEDICAL INC COMMON   2011-06-01 2011-10-17
180. SUNCOR ENERGY, INC     2011-10-17
110. TARGET CORP COM   2011-01-14 2011-10-17
40. THERMO ELECTRON COMMON     2011-10-17
620. TE CONNECTIVITY LTD   2010-03-10 2011-10-17
305. ABBOTT LABORATORIES     2011-12-01
580. ALCOA INC   2010-12-01 2011-12-01
260. ALCOA INC   2010-11-05 2011-12-01
300. AON CORPORATION COMMON   2011-01-14 2011-12-01
635. CORNING INCORPORATED     2011-12-01
1521.31 GOLDMAN SACHS GROWTH OPPORTUNITY FD   2009-11-30 2011-12-01
120. KOHLS CORP COMMON   2011-10-03 2011-12-01
170. METLIFE COMMON     2011-12-01
670. SOUTHWEST AIRLINES   2010-12-20 2011-12-01
525. SOUTHWEST AIRLINES     2011-12-01
1895. SOUTHWEST AIRLINES     2011-12-01
1100. STAPLES INC COMMON     2011-12-01
. HUGH MCRAE LAND TR   1994-12-27 2011-12-31
(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 15,877   12,985 2,892
b 93   192 -99
c 140   126 14
d 157   177 -20
e 1,956   1,664 292
236   210 26
192   153 39
5,481   5,608 -127
13,221   9,715 3,506
7,968   7,453 515
10,209   8,598 1,611
16,096   11,830 4,266
9,962   7,965 1,997
7,011   5,844 1,167
8,401   6,492 1,909
85   74 11
164   148 16
105   192 -87
109   108 1
9,427   8,691 736
122   118 4
164   250 -86
148   139 9
279   265 14
95   93 2
291   215 76
27,056   21,747 5,309
150,000   149,912 88
121   105 16
141   189 -48
82   74 8
4,946   4,328 618
70   78 -8
15,318   12,929 2,389
999   886 113
5,163   4,093 1,070
127   87 40
113   80 33
216   163 53
425   350 75
230   225 5
198   255 -57
232   175 57
161   110 51
160   146 14
59   69 -10
106   101 5
261   269 -8
226   189 37
12,862   12,268 594
157   147 10
501   409 92
5,097   4,066 1,031
428   408 20
190   384 -194
99   108 -9
127   126 1
154   177 -23
6,349   5,679 670
124   119 5
97   93 4
121   138 -17
15,451   11,812 3,639
253   275 -22
158   162 -4
20,664   15,551 5,113
165   134 31
5,457   4,301 1,156
3,184   1,351 1,833
110,000   109,996 4
7,049   7,765 -716
14,902   12,265 2,637
15,580   11,311 4,269
130   105 25
171   165 6
1,838   1,595 243
61   78 -17
175   208 -33
128   88 40
102   80 22
215   163 52
412   419 -7
30,881   23,771 7,110
100   192 -92
100   192 -92
205   235 -30
9,264   6,388 2,876
224   225 -1
5,275   4,572 703
12,771   15,028 -2,257
182   250 -68
224   175 49
259   238 21
346   104 242
22,982   20,191 2,791
103   102 1
166   146 20
121   138 -17
105   101 4
253   275 -22
301   285 16
275   269 6
2,157   1,819 338
6,629   5,388 1,241
105,936   69,700 36,236
927   1,250 -323
1,999   2,387 -388
77,547   63,200 14,347
61,211   54,750 6,461
183,937   160,500 23,437
23,849   25,000 -1,151
11,836   9,599 2,237
93,626   71,850 21,776
37,570   30,615 6,955
5,437   5,290 147
41,445   36,711 4,734
1,656   1,823 -167
1,166   1,315 -149
17,001   14,721 2,280
17,068   16,675 393
158   153 5
10,561   10,710 -149
9,277   8,200 1,077
6,405   4,758 1,647
15,951   15,330 621
9,345   8,942 403
4,425   4,192 233
18,547   16,180 2,367
9,810   2,916 6,894
1,927   1,889 38
16,597   17,071 -474
8,000   7,857 143
3,172   2,487 685
4,616   4,100 516
5,642   4,917 725
25,772   28,009 -2,237
255   265 -10
2,553   2,439 114
15,747   14,018 1,729
6,255   5,857 398
4,302   7,132 -2,830
1,407   2,279 -872
5,991   11,637 -5,646
18,329   14,152 4,177
8,203   9,703 -1,500
10,201   9,793 408
14,541   23,918 -9,377
130   198 -68
3,895   6,094 -2,199
12,263   9,177 3,086
12,557   12,776 -219
27,386   24,036 3,350
12,941   10,753 2,188
16,129   15,173 956
15,742   21,311 -5,569
14,432   22,384 -7,952
13,555   9,129 4,426
7,792   7,366 426
6,764   11,289 -4,525
13,729   16,662 -2,933
9,741   14,596 -4,855
6,051   7,499 -1,448
63,112   62,735 377
2,569   2,631 -62
1,007   1,015 -8
4,092   6,609 -2,517
2,268   3,691 -1,423
907   1,389 -482
1,561   2,423 -862
650   979 -329
18,820   21,485 -2,665
20,203   24,381 -4,178
8,731   9,182 -451
20,041   18,922 1,119
1,888   1,804 84
94   122 -28
7,059   10,353 -3,294
8,995   8,886 109
28,291   25,808 2,483
5,890   4,816 1,074
1,022   1,250 -228
9,372   10,693 -1,321
6,405   6,861 -456
2,108   3,453 -1,345
125   149 -24
2,127   1,696 431
5,556   6,261 -705
13,089   23,683 -10,594
8,656   2,916 5,740
5,229   7,049 -1,820
5,222   5,461 -239
5,823   6,056 -233
2,063   2,247 -184
20,987   16,637 4,350
16,677   14,218 2,459
5,672   7,888 -2,216
2,543   3,637 -1,094
13,731   13,401 330
8,547   10,136 -1,589
35,857   29,392 6,465
5,987   5,809 178
5,278   5,831 -553
5,554   8,723 -3,169
4,352   6,451 -2,099
15,709   24,123 -8,414
15,906   20,160 -4,254
1,882     1,882
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       2,892
b       -99
c       14
d       -20
e       292
      26
      39
      -127
      3,506
      515
      1,611
      4,266
      1,997
      1,167
      1,909
      11
      16
      -87
      1
      736
      4
      -86
      9
      14
      2
      76
      5,309
      88
      16
      -48
      8
      618
      -8
      2,389
      113
      1,070
      40
      33
      53
      75
      5
      -57
      57
      51
      14
      -10
      5
      -8
      37
      594
      10
      92
      1,031
      20
      -194
      -9
      1
      -23
      670
      5
      4
      -17
      3,639
      -22
      -4
      5,113
      31
      1,156
      1,833
      4
      -716
      2,637
      4,269
      25
      6
      243
      -17
      -33
      40
      22
      52
      -7
      7,110
      -92
      -92
      -30
      2,876
      -1
      703
      -2,257
      -68
      49
      21
      242
      2,791
      1
      20
      -17
      4
      -22
      16
      6
      338
      1,241
      36,236
      -323
      -388
      14,347
      6,461
      23,437
      -1,151
      2,237
      21,776
      6,955
      147
      4,734
      -167
      -149
      2,280
      393
      5
      -149
      1,077
      1,647
      621
      403
      233
      2,367
      6,894
      38
      -474
      143
      685
      516
      725
      -2,237
      -10
      114
      1,729
      398
      -2,830
      -872
      -5,646
      4,177
      -1,500
      408
      -9,377
      -68
      -2,199
      3,086
      -219
      3,350
      2,188
      956
      -5,569
      -7,952
      4,426
      426
      -4,525
      -2,933
      -4,855
      -1,448
      377
      -62
      -8
      -2,517
      -1,423
      -482
      -862
      -329
      -2,665
      -4,178
      -451
      1,119
      84
      -28
      -3,294
      109
      2,483
      1,074
      -228
      -1,321
      -456
      -1,345
      -24
      431
      -705
      -10,594
      5,740
      -1,820
      -239
      -233
      -184
      4,350
      2,459
      -2,216
      -1,094
      330
      -1,589
      6,465
      178
      -553
      -3,169
      -2,099
      -8,414
      -4,254
      1,882
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 2 157,709
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 175,035 3,836,293 0.045626
2009 213,713 3,515,756 0.060787
2008 243,803 4,306,971 0.056607
2007 240,785 5,105,103 0.047166
2006 231,866 4,848,369 0.047824
2 Total of line 1, column (d) ...................... 2 0.258009
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 0.051602
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 3,998,057
5 Multiply line 4 by line 3....................... 5 206,307
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 1,982
7 Add lines 5 and 6......................... 7 208,289
8 Enter qualifying distributions from Part XII, line 4.............. 8 188,772
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 3,965
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 3,965
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 3,965
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 3,048
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 3,048
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 917
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 0
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
 
 
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)bulletNC
    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 addressbullet  
    14
    The books are in care ofbulletBRANCH BANKING AND TRUST Telephone no.bullet (704) 954-1125
    Located atbulletWEALTH MGN 200 S COLLEGE STCHARLOTTENC ZIP+4bullet28202
    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
     
     
    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
    BRANCH BANKING AND TRUST TRUSTEE
    10     		51,284    
    200 S COLLEGE ST 9TH FLOOR -
    CHARLOTTE,NC28202
    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
    NONE
    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..........................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
    3,831,967
    b
    Average of monthly cash balances.......................
    1b
    224,172
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    2,802
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,058,941
    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
    4,058,941
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    60,884
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    3,998,057
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    199,903
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    199,903
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    3,965
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    3,965
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    195,938
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    195,938
    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
    195,938
    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
    188,772
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    188,772
    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
    188,772
    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 7 195,938
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 188,768
    b Total for prior years:2009, 20, 20 0
    3 Excess distributions carryover, if any, to 2011:
    a From 2006....... 0
    b From 2007....... 0
    c From 2008....... 0
    d From 2009....... 0
    e From 2010....... 0
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 188,772
    a Applied to 2010, but not more than line 2a 188,768
    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..... 4
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2011. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		0
    e Undistributed income for 2010. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		0
    f Undistributed income for 2011. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		195,934
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		0
    8Excess distributions carryover from 2006 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		0
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2007.... 0
    b Excess from 2008.... 0
    c Excess from 2009.... 0
    d Excess from 2010.... 0
    e Excess from 2011.... 0
    Form 990-PF (2011)
    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
    BELMONT ABBEY COLLEGE
    100 BELMONT-MT HOLLY ROAD
    BELMONT,NC28012     		NONE EXEMPT CHARITABLE 93,136
    CATHOLIC DIOCESE OF RALEIGH
    715 NAZARETH STREET
    RALEIGH,NC276062187     		NONE EXEMPT CHARITABLE 46,568
    PARISH COUNCIL OF THE SACRED
    HEART - CHURCH AND MADONNA HALL
    HAMLET,NC28345     		NONE EXEMPT CHARITABLE 2,500
    CATHOLIC DIOCESE OF CHARLOTTE
    P O BOX 36776
    CHARLOTTE,NC28203     		NONE EXEMPT CHARITABLE 46,568
    Total .................................bullet 3a 188,772
    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     14 3,750  
    4 Dividends and interest from securities....     14 87,277  
    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     18 157,709  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aHUGH MCRAE TR     14 4  
    bENRON DIST     14 757  
    cBOA DIST     14 48  
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   249,545  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13249,545
    (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

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    Name of Bond End of Year Book Value End of Year Fair Market Value
    IBM CORP 4.75% 11/29/2012    
    WELLS FARGO 5.25% 10/23/2012    

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AT&T    
    ABOTT LABORATORIES    
    AMGEN INC    
    ANADARKO PETE CORP    
    BANK OF AMERICA    
    CVS CORP    
    COCA COLA    
    CONOCOPHILLIPS    
    E I DUPONT DE NEMOURS    
    EXXON MOBIL CORPORATION    
    GENERAL ELECTRIC COMPANY    
    ISHARES MSCI EAFE INDEX FUND    
    ISHARES RUSSELL 2000 INDEX FUN    
    J P MORGAN CHASE & CO    
    JOHNSON & JOHNSON    
    LOWE'S COMPANIES, INC    
    MEDTRONIC, INC    
    MICROSOFT CORP    
    PEPSICO, INC    
    PFIZER, INC    
    PROCTER AND GAMBLE    
    TARGET CORP    
    TEXAS INSTRUMENTS    
    TYCO INTERNATIONAL LTD    
    VERIZON COMMUNICATIONS    
    WALMART STORES    
    WELLPOINT INC    
    WELLS FARGO & CO    
    GOLDMAN SACHS MID CAP VALUE    
    HARBOR INTERNATIONAL    
    INTEL CORP    
    ISHARES MSCI EMERGING    
    ISHARES S&P SMALLCAP 600    
    KRAFT    
    MERCK    
    S&P 400 MID CAP    
    QUALCOM    
    YAHOO    
    APACHE CORP    
    AVERY DENNISON    
    BERKSHIRE HATHAWAY    
    CHEVRON    
    COMCAST    
    CORNING INC    
    EMERSON ELECTRIC    
    FEDERATED HIGH YIELD BOND    
    FIDELITY ADVISOR SMALL CAP    
    IBM    
    MONSANTO CO    
    ORACLE SYS CORP    
    PIMCO TOTAL RETURN FUND    
    SPDR GOLD TRUST    
    SCHLUMBERGER LTD    
    THE TRAVELERS    
    TRANSOCEAN LTD    
    ABB LTD SPONS ADR    
    AIM INTERNATIONAL GWTH FUND    
    APPLIED MATERIALS    
    ARTISAN MID CAP VALUE    
    BAXTER INTERNATIONAL INC    
    CAMPBELL SOUP CO    
    CISCO SYSTEMS    
    THE WALT DISNEY    
    DODGE & COX INCOME FD    
    EDISON INTL    
    EXELON CORP    
    GENUINE PARTS CO    
    GOOGLE INC    
    HEWLETT PACKARD CO    
    ISHARES S&P SMALLCAP 600 INDEX    
    ISHARES LEHMAN INTERMEDIATE    
    ISHARES SILVER TRUST    
    METLIFE INC    
    PALL CORPORATION    
    PIMCO COMMODITY REAL RET    
    STAPLES INC    
    STATE STREET    
    SUNCOR ENERGY    
    SYSCO CORP    
    TCW TOTAL RETURN BOND    
    THE TRAVELERS COMPANIES    
    US BANCORP    
    UNILEVER PLC    
    VODAFONE GROUP PLC    
    ALCOA INC    
    AMERICAN EXPRESS    
    AON CORP    
    APPLE COMPUTER    
    BB&T TOTAL RETURN    
    CENOVUS ENERGY    
    WALT DISNEY    
    FEDEX CORP    
    GOLDMAN SACHS GROWTH OPPOR    
    HARDING LOEVNER INTERNATIONAL    
    INTERNATIONAL PAPER    
    LAZARD EMERGING MKTS    
    LOCKHEED MARTIN CORP    
    METROPOLITAN WEST TOTAL RETURN    
    MORGAN STANLEY    
    NOVARTIS AG    
    PIMCO FOREIGN BOND FD    
    UTILITIES SELECT SECTOR SPDR    
    SOUTHWEST AIRLINES    
    STRYKER CORP    
    COVIDIEN PLC    
    TYCO ELECTRONICS LTD    

    TY 2011 InvestmentsGovtObligationsSch
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    US Government Securities - End of Year Book Value:

     
    US Government Securities - End of Year Fair Market Value:

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


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


     


    TY 2011 InvestmentsOtherSchedule2
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    HUGH MCRAE LAND TRUST      

    TY 2011 OtherDecreasesSchedule
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    Description Amount
    MUTUAL FUND REPORTED/ AMT RECEIVED 580
    ROUNDING 5
    HUGH MCCRAE LAND TRUST ADJUSTMENT 95


    TY 2011 OtherExpensesSchedule
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER ALLOCABLE EXPENSES - 2% 10 10   0


    TY 2011 OtherIncomeSchedule2
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    HUGH MCRAE LAND TR 4 4  


    TY 2011 OtherIncreasesSchedule
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    Description Amount
    STOP PMT 1/3/11 ON BELMONT CHECK ISSUED 2010 25,217
    2010 WASH SALE ADJUSTMENTS IN 2011 29


    TY 2011 OtherProfessionalFeesSchedule
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER NON-ALLOCABLE EXPENSE - 10 10    
    OTHER NON-ALLOCABLE EXPENSE - 10 10    


    TY 2011 TaxesSchedule
    Name:
    SUTHERLAND SARAH TUW
    EIN: 56-6456377
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 295 0   0
    FEDERAL TAX PAYMENT - PRIOR YE 2,298 0   0
    FEDERAL ESTIMATES - PRINCIPAL 3,048 0   0
    FOREIGN TAXES ON QUALIFIED FOR 1,458 0   0
    FOREIGN TAXES ON NONQUALIFIED 103 0   0