TY 2011 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation

Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.

OMB No. 1545-0052

2011

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

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

Amended returnAddress changeName change

Name of foundation
CAPTAIN W J DIMITRIJEVIC MEMORIAL TRUST

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 2907 - TRUST TAX DEPT Room/suite

City or town, state, and ZIP code
WILSON, NC278942907

A Employer identification number

52-6432623

B Telephone number (see page 10 of the instructions)

(410) 626-6118

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

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

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

$1,527,331J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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

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

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check
3	Interest on savings and temporary cash investments	6,219		6,219
4	Dividends and interest from securities......	42,647		42,647
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		63,991
b	Gross sales price for all assets on line 6a 735,739
7	Capital gain net income (from Part IV, line 2)...			63,991
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).......		11	11
12	Total. Add lines 1 through 11........	112,868		112,868
13	Compensation of officers, directors, trustees, etc.	22,906		22,906
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see page 14 of the instructions)		11,994			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).......		39	39
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	34,939		22,945	0	0
25	Contributions, gifts, grants paid........	74,717				74,717
26	Total expenses and disbursements. Add lines 24 and 25	109,656		22,945	0	74,717
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	3,212
b	Net investment income (if negative, enter -0-)			89,923
c	Adjusted net income (if negative, enter -0-)...				0

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

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

Form 990-PF (2011)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............	43	2,813	2,813
	2	Savings and temporary cash investments..........	31,918	24,638	24,638
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see page 15 of the
		instructions)....................
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	153,562	156,948	162,139
	b	Investments—corporate stock (attach schedule)........	1,185,474	1,290,915	1,337,741
	c	Investments—corporate bonds (attach schedule)........	100,735
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,471,732	1,475,314	1,527,331
	17	Accounts payable and accrued expenses..........
	18	Grants payable...................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	1,471,732	1,475,314
	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)....................	1,471,732	1,475,314
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	1,471,732	1,475,314

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	1,471,732
2	Enter amount from Part I, line 27a.....................	2	3,212
3	Other increases not included in line 2 (itemize)	3	370
4	Add lines 1, 2, and 3..........................	4	1,475,314
5	Decreases not included in line 2 (itemize)	5	0
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	1,475,314

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	10. APACHE CORPORATION COMMON		2010-08-17	2011-01-11
b	10. BASF AG SPONSORED ADR COMMON		2010-09-23	2011-01-11
c	5. BIO-RAD LABS CLASS A		2009-07-15	2011-01-11
d	12. CME GROUP INC COMMON			2011-01-11
e	10. CVS CORP COMMON		2010-09-23	2011-01-11
	170. CVS CORP COMMON		2003-04-04	2011-01-11
	10. CANADIAN NAT RES LTD		2009-07-15	2011-01-11
	80. COCA COLA COMPANY		2010-05-28	2011-01-11
	50. CONOCOPHILLIPS COM		2004-03-17	2011-01-11
	10. DANONE SPONS ADR		2009-07-15	2011-01-11
	10. DOLBY LABORATORIES INC CL A COMMON		2009-07-15	2011-01-11
	30. E ON AG SPONSORED ADR		2010-05-24	2011-01-11
	10. HSBC HLDGS PLC ADR		2009-07-15	2011-01-11
	10. IHS INC COMMON		2009-07-15	2011-01-11
	80. INTEL CORPORATION		2006-05-26	2011-01-11
	50. INTERNATIONAL PAPER COMPANY		2010-08-06	2011-01-11
	150. KONINKLIJKE AHOLD SP ADR		2009-07-15	2011-01-11
	5. LABORATORY CORP OF AMERICAN HOLDINGS		2009-08-25	2011-01-11
	30. LASALLE HOTEL PPTYS COM SH BEN INT		2010-08-17	2011-01-11
	50. MERCK & CO INC		2009-07-15	2011-01-11
	90. METLIFE COMMON		2009-11-24	2011-01-11
	60. MICROSOFT CORPORATION			2011-01-11
	60. MICROSOFT CORPORATION		2004-03-17	2011-01-11
	30. MORGAN STANLEY DEAN WITTER DIS CO		2010-02-18	2011-01-11
	50. OWENS ILLINOIS INC COM NEW		2010-04-26	2011-01-11
	10. RAYONIER INC COMMON		2009-07-15	2011-01-11
	40. SCHLUMBERGER LTD		2003-04-04	2011-01-11
	40. STAPLES INC COMMON		2010-09-23	2011-01-11
	40. STATE STR CORP		2010-04-26	2011-01-11
	140. STATE STR CORP		2009-11-24	2011-01-11
	20. STRYKER CORP COMMON		2010-08-06	2011-01-11
	50. SUNCOR ENERGY, INC		2010-02-18	2011-01-11
	10. TELEDYNE TECHNOLOGIES INC COM		2009-07-15	2011-01-11
	20. TENARIS S.A.		2009-07-15	2011-01-11
	10. TEVA PHARMACEUTICAL INDS LTD ADR		2010-01-04	2011-01-11
	20. THE TRAVELERS COMPANIES INC.		2009-07-15	2011-01-11
	130. VERIZON COMMUNICATIONS INC		2010-07-20	2011-01-11
	20. WOLVERINE WORLD WIDE INC COMMON		2009-09-01	2011-01-11
	80. TYCO INTERNATIONAL LTD		2010-03-22	2011-01-11
	40. ACTUANT CORP CL A NEW		2010-08-06	2011-01-12
	30. LASALLE HOTEL PPTYS COM SH BEN INT		2010-08-17	2011-01-12
	70. ABB LTD SPONSORED ADR		2009-07-15	2011-02-04
	60. AT&T INC		2009-07-15	2011-02-04
	40. ABBOTT LABORATORIES		2004-03-24	2011-02-04
	50. AGILENT TECHNOLOGIES		2010-09-23	2011-02-04
	50. ALBEMARLE CORP COMMON			2011-02-04
	20. AMPHENOL CORP CL A		2009-07-15	2011-02-04
	20. ANSYS INC COMMON		2011-01-11	2011-02-04
	80. BANK OF AMER CORP COMMON			2011-02-04
	20. BERKSHIRE HATHAWAY INC DEL CL B COMMON		2009-07-15	2011-02-04
	20. BRUKER BIOSCIENCES CORP COMMON		2010-05-20	2011-02-04
	20. CHEVRON TEXACO CORP COMMON		2005-04-20	2011-02-04
	60. COMCAST CORP NEW CL A		2007-11-28	2011-02-04
	50. COMERICA, INC. COMMON		2011-01-11	2011-02-04
	50. CORNING INCORPORATED		2009-07-15	2011-02-04
	30. CROWN HOLDINGS INC COMMON		2009-10-21	2011-02-04
	70. DISNEY WALT COMPANY		2004-08-19	2011-02-04
	10. DISCOVER FINL SVCS		2010-04-26	2011-02-04
	70. FEI COMPANY COMMON		2010-02-18	2011-02-04
	120. INTEL CORPORATION			2011-02-04
	30. INTERNATIONAL PAPER COMPANY		2010-08-06	2011-02-04
	70. KRAFT FOODS INC-A COMMON		2007-08-06	2011-02-04
	70. METLIFE COMMON		2009-11-24	2011-02-04
	50. MICROSOFT CORPORATION		2006-05-26	2011-02-04
	20. MURPHY OIL CORPORATION		2011-01-11	2011-02-04
	3052.543 PIMCO LOW DURATION INSTITUTIONAL			2011-02-04
	30. RANDGOLD RESOURCES LTD ADR		2009-07-15	2011-02-04
	20. ROPER INDS INC COMMON		2009-07-15	2011-02-04
	10. ROPER INDS INC COMMON		2010-02-18	2011-02-04
	20. SLM CORPORATION COMMON		2010-04-26	2011-02-04
	30. UTILITIES SELECT SECTOR SPDR FUND		2010-02-18	2011-02-04
	40. SOUTHWEST AIRLINES		2010-09-28	2011-02-04
	10. STAPLES INC COMMON		2010-09-23	2011-02-04
	30. SYNOPSYS INC.		2011-01-11	2011-02-04
	30. SYNOPSYS INC.		2010-12-16	2011-02-04
	40. TESCO CORP		2010-09-23	2011-02-04
	340. UNILEVER PLC-SPONSORED ADR		2009-06-11	2011-02-04
	30. WAL MART STORES INCORPORATED		2010-01-04	2011-02-04
	10. WHITING PETROLEUM CORP COMMON		2009-09-01	2011-02-04
	100. COVIDIEN PLC		2010-08-06	2011-02-04
	10. ENSTAR GROUP LTD		2011-01-11	2011-02-04
	10. ENSTAR GROUP LTD		2009-07-15	2011-02-04
	20. INGERSOLL-RAND PLC		2011-01-11	2011-02-04
	80. XL CAPITAL LTD		2010-08-06	2011-02-04
	20. LOGITECH INTERNATIONAL S.A.		2009-07-15	2011-02-04
	180. TYCO ELECTRONICS LTD		2010-03-22	2011-02-04
	50000. FED HOME LOAN BANK DTD 01/06/06 4.625% 0		2008-11-25	2011-02-18
	160. CVS CORP COMMON		2010-09-23	2011-02-23
	50. LOCKHEED MARTIN CORP		2010-01-04	2011-02-23
	50. AON CORPORATION COMMON		2011-01-11	2011-03-01
	70. DREAMWORKS ANIMATION SKG INC COMMON			2011-03-01
	10. HELMERICH & PAYNE INC COMMON		2010-08-17	2011-03-01
	20. HELMERICH & PAYNE INC COMMON		2011-01-11	2011-03-01
	20. NOBLE ENERGY INC			2011-03-01
	10. NOBLE ENERGY INC		2010-05-20	2011-03-01
	70. SEI INVESTMENTS CO		2010-05-20	2011-03-01
	80. VIRGIN MEDIA INC COMMON		2010-08-06	2011-03-01
	40. WELLS FARGO & CO NEW		2007-11-28	2011-03-01
	50000. FANNIE MAE 5.5% DUE 03/15/11		2006-08-24	2011-03-15
	110. ABB LTD SPONSORED ADR		2009-07-15	2011-05-06
	20. CONOCOPHILLIPS COM		2004-03-17	2011-05-06
	100. EXXON MOBIL CORPORATION			2011-05-06
	80. FIDELITY NATIONAL INFORMATION SERVICES I		2011-02-04	2011-05-06
	20. B. F. GOODRICH COMMON		2010-10-07	2011-05-06
	40. HASBRO INC		2010-02-18	2011-05-06
	20. HELMERICH & PAYNE INC COMMON		2010-08-17	2011-05-06
	10. HITACHI LTD		2011-01-11	2011-05-06
	10. HUBBELL INC		2010-12-16	2011-05-06
	10. HUBBELL INC		2011-02-04	2011-05-06
	40. ICON PLC SPONS ADR		2010-04-26	2011-05-06
	20. IHS INC COMMON		2009-07-15	2011-05-06
	40. INTEL CORPORATION		2004-09-27	2011-05-06
	25. INTERNATIONAL BUSINESS MACHINES CORP		2004-08-19	2011-05-06
	15. LABORATORY CORP OF AMERICAN HOLDINGS		2009-08-25	2011-05-06
	270. LOWES COMPANIES INCORPORATED		2010-09-28	2011-05-06
	100. MEDTRONIC INC			2011-05-06
	110. NIDEC CORPORATION			2011-05-06
	40. NISSAN COMMON STOCK		2010-07-20	2011-05-06
	10. NOBLE ENERGY INC		2009-07-15	2011-05-06
	90. OSHKOSH TRUCK B CL B			2011-05-06
	300. PFIZER INCORPORATED			2011-05-06
	90. PLEXUS CORP COMMON			2011-05-06
	40. QUEST SOFTWARE INC		2010-08-17	2011-05-06
	30. QUEST SOFTWARE INC		2010-04-26	2011-05-06
	120. SAFEWAY INC			2011-05-06
	40. STATOIL ASA ADR COMMON		2011-01-11	2011-05-06
	70. STATOIL ASA ADR COMMON		2010-05-20	2011-05-06
	80. STRYKER CORP COMMON			2011-05-06
	10. V F CORP COMMON		2010-07-20	2011-05-06
	20. V F CORP COMMON		2010-02-18	2011-05-06
	30. WASTE CONNECTIONS		2010-07-20	2011-05-06
	75. WASTE CONNECTIONS		2009-07-15	2011-05-06
	20. WHITING PETROLEUM CORP COMMON		2010-04-26	2011-05-06
	120. COVIDIEN PLC		2010-08-06	2011-05-06
	110. TYCO INTERNATIONAL LTD		2010-03-22	2011-05-06
	60. AMERICAN EXPRESS COMPANY		2010-10-07	2011-05-19
	10. BASF AG SPONSORED ADR COMMON		2010-08-17	2011-05-19
	5. BIO-RAD LABS CLASS A		2009-07-15	2011-05-19
	30. DISCOVER FINL SVCS		2010-04-26	2011-05-19
	50. HOSPIRA INC			2011-05-19
	130. INTERNATIONAL PAPER COMPANY			2011-05-19
	20. LANDSTAR SYSTEM INC COMMON		2011-03-01	2011-05-19
	40. TENARIS S.A.		2009-07-15	2011-05-19
	70. THERMO ELECTRON COMMON		2011-02-04	2011-05-19
	30. VARIAN SEMICONDUCTOR EQUIPMENT ASSOC		2011-02-04	2011-05-19
	50. ARCH COAL INC COMMON		2011-02-04	2011-06-01
	4. CNOOC LTD - ADR		2009-07-15	2011-06-01
	10. CANADIAN NATL RY CO		2009-07-15	2011-06-01
	30. EATON VANCE CORPORATION		2011-05-06	2011-06-01
	20. FRESENIUS MED CARE		2009-07-15	2011-06-01
	20. LOCKHEED MARTIN CORP		2010-01-04	2011-06-01
	40. LOWES COMPANIES INCORPORATED		2010-09-28	2011-06-01
	90. MICROCHIP TECHNOLOGY INC			2011-06-01
	10. NOVARTIS AG		2010-05-20	2011-06-01
	66.925 PIMCO TOTAL RETURN FUND 35		2009-08-25	2011-06-01
	50. WAL MART STORES INCORPORATED		2010-01-04	2011-06-01
	10. WOLVERINE WORLD WIDE INC COMMON		2009-09-01	2011-06-01
	40. NABORS INDUSTRIES LTD. COMMON		2011-05-06	2011-06-01
	70. ABBOTT LABORATORIES		2004-03-24	2011-07-20
	20. ANIXTER INTERNATIONAL INC		2011-05-06	2011-07-20
	110. AON CORPORATION COMMON		2011-01-11	2011-07-20
	80. BRUKER BIOSCIENCES CORP COMMON		2010-05-20	2011-07-20
	160. CARNIVAL CORP PAIRED CTF 1 COM		2011-05-06	2011-07-20
	20. CHART INDUSTRIES INC COMMON		2011-05-06	2011-07-20
	40. COOPER TIRE & RUBR CO		2010-12-16	2011-07-20
	50. COOPER TIRE & RUBR CO		2011-03-01	2011-07-20
	20. DILLARDS INC		2011-05-06	2011-07-20
	50. DISCOVER FINL SVCS		2010-04-26	2011-07-20
	20. DOLBY LABORATORIES INC CL A COMMON		2011-03-01	2011-07-20
	20. DOLBY LABORATORIES INC CL A COMMON			2011-07-20
	1325.597 FEDERATED INTERMEDIATE FUND 303		2009-04-28	2011-07-20
	30. GUESS INC COMMON		2010-12-16	2011-07-20
	20. HASBRO INC		2010-02-18	2011-07-20
	50. HUTCHINSON WHAMPIA ADR		2011-01-12	2011-07-20
	170. INTERNATIONAL PAPER COMPANY		2010-09-23	2011-07-20
	90. INTERVAL LEISURE GROUP COMMON		2009-07-15	2011-07-20
	70. INTERVAL LEISURE GROUP COMMON		2011-05-19	2011-07-20
	30. KBR INC COMMON		2011-02-04	2011-07-20
	55. LOCKHEED MARTIN CORP			2011-07-20
	60. MEDTRONIC INC		2006-08-08	2011-07-20
	90. NOVARTIS AG			2011-07-20
	10. OIL STATES INTERNATIONAL INC COM		2011-03-01	2011-07-20
	105. PROGRESS SOFTWARE COMMON		2010-04-26	2011-07-20
	110. TARGET CORP COM		2010-07-20	2011-07-20
	30. TELEDYNE TECHNOLOGIES INC COM		2009-07-15	2011-07-20
	50. TREEHOUSE FOODS INC COMMON		2011-05-06	2011-07-20
	60. WAL MART STORES INCORPORATED			2011-07-20
	20. CHECKPOINT SOFTWARE TECHNOLOGY COMMON		2010-12-16	2011-07-20
	210. ABB LTD SPONSORED ADR		2009-07-15	2011-08-10
	30. ACACIA RESEARCH COMMON		2011-05-06	2011-08-10
	20. ANIXTER INTERNATIONAL INC		2011-05-19	2011-08-10
	80. APPROACH RESOURCES INC COMMON			2011-08-10
	10. BG GROUP PLC SPON ADR		2009-07-15	2011-08-10
	20. BANK OF AMER CORP COMMON		2011-03-01	2011-08-10
	330. BANK OF AMER CORP COMMON		2010-05-24	2011-08-10
	30. CARNIVAL CORP PAIRED CTF 1 COM		2011-05-06	2011-08-10
	70. CROWN HOLDINGS INC COMMON			2011-08-10
	1301.396 FEDERATED INTERMEDIATE FUND 303			2011-08-10
	70. GRAFTECH INTERNATIONAL LTD		2011-05-06	2011-08-10
	20. GUESS INC COMMON		2011-01-11	2011-08-10
	30. HSBC HLDGS PLC ADR		2009-07-15	2011-08-10
	30. HARRIS CORP		2011-05-06	2011-08-10
	20. HASBRO INC		2010-07-20	2011-08-10
	200. HUNTINGTON BANCSHARES INC COMMON		2011-02-04	2011-08-10
	30. INTERNATIONAL PAPER COMPANY		2010-09-23	2011-08-10
	220. INTERPUBLIC GROUP		2011-05-06	2011-08-10
	30. KAMATSU LTD		2010-12-16	2011-08-10
	80. KRAFT FOODS INC-A COMMON		2007-08-06	2011-08-10
	20. MITSUBISHI CORPORATION		2010-02-18	2011-08-10
	30. MOODY'S CORPORATION		2011-05-06	2011-08-10
	1728.283 PIMCO TOTAL RETURN FUND 35		2006-05-30	2011-08-10
	90. ST MICROELETRONICS N.V.		2011-05-06	2011-08-10
	50. UNITED RENTALS INC		2011-01-11	2011-08-10
	40. NABORS INDUSTRIES LTD. COMMON		2011-05-19	2011-08-10
	30. CHECKPOINT SOFTWARE TECHNOLOGY COMMON		2011-02-04	2011-08-10
	50. ABB LTD SPONSORED ADR		2009-07-15	2011-08-31
	20. ALBEMARLE CORP COMMON		2011-05-06	2011-08-31
	50. CIT GROUP INC COMMON		2010-09-23	2011-08-31
	20. CANADIAN NATL RY CO		2009-07-15	2011-08-31
	140. CENOVUS ENERGY INC.		2010-09-28	2011-08-31
	60. CISCO SYSTEMS		2005-11-18	2011-08-31
	190. CISCO SYSTEMS		2005-11-18	2011-08-31
	30. CROWN HOLDINGS INC COMMON		2011-07-20	2011-08-31
	40. DILLARDS INC			2011-08-31
	40. DRESSER-RAND GROUP INC COMMON			2011-08-31
	30. GARTNER,INC COMMON		2011-05-06	2011-08-31
	60. GRAFTECH INTERNATIONAL LTD			2011-08-31
	100. HEWLETT PACKARD COMPANY		2009-07-15	2011-08-31
	30. HEWLETT PACKARD COMPANY		2011-05-19	2011-08-31
	90. HEWLETT PACKARD COMPANY		2010-09-23	2011-08-31
	150. HUNTINGTON BANCSHARES INC COMMON			2011-08-31
	20. JONES LANG LA SALLE INC		2011-08-10	2011-08-31
	50. KBR INC COMMON		2011-02-04	2011-08-31
	50. KUBOTA CORPORATION			2011-08-31
	30. LIFE TECHNOLOGIES CORP COMMON		2011-02-04	2011-08-31
	50. PFIZER INCORPORATED		2011-07-20	2011-08-31
	10. PFIZER INCORPORATED		2011-07-20	2011-08-31
	20. SIEMENS AG SPONSORED ADR		2009-07-15	2011-08-31
	70. SOLUTIA INC COMMON		2010-07-20	2011-08-31
	140. STAPLES INC COMMON		2010-09-23	2011-08-31
	50. STAPLES INC COMMON		2011-05-06	2011-08-31
	270. STAPLES INC COMMON			2011-08-31
	20. TENARIS S.A.		2011-05-06	2011-08-31
	20. TENARIS S.A.		2009-07-15	2011-08-31
	40. TESCO CORP		2010-09-23	2011-08-31
	50. UNITED RENTALS INC			2011-08-31
	60. VERISIGN INC COMMON			2011-08-31
	20. WHITING PETROLEUM CORP COMMON		2010-05-20	2011-08-31
	20. WHITING PETROLEUM CORP COMMON		2011-01-11	2011-08-31
	110. LOGITECH INTERNATIONAL S.A.		2009-07-15	2011-08-31
	110. ABBOTT LABORATORIES			2011-10-27
	20. ALBEMARLE CORP COMMON		2011-08-10	2011-10-27
	550. ALCOA INC			2011-10-27
	50. AMGEN INCORPORATED		2011-05-06	2011-10-27
	12. APPLE COMPUTER CORPORATION COMMON		2010-05-20	2011-10-27
	40. ASSOCIATED ESTATE REALITY CP REITS		2011-08-10	2011-10-27
	20. BASF AG SPONSORED ADR COMMON			2011-10-27
	110. BANK OF AMER CORP COMMON			2011-10-27
	30. BE AEROSPACE INC COMMON		2011-05-06	2011-10-27
	15. BIO-RAD LABS CLASS A		2010-04-26	2011-10-27
	130. CENOVUS ENERGY INC.		2010-12-16	2011-10-27
	40. COMSTOCK RES INC		2011-08-10	2011-10-27
	100. DISCOVER FINL SVCS			2011-10-27
	240. DOW CHEMICAL COMPANY			2011-10-27
	70. ENSCO INTERNATIONAL PLC			2011-10-27
	20. GARTNER,INC COMMON			2011-10-27
	30. ILLUMINA INC		2011-08-31	2011-10-27
	10. INTERCONTINENTALEXCHANGE INC COMMON		2009-11-18	2011-10-27
	60. KAMATSU LTD			2011-10-27
	20. KAMATSU LTD		2010-12-16	2011-10-27
	20. MEDNAX INC COMMON		2010-02-18	2011-10-27
	150. MICROSOFT CORPORATION		2004-03-24	2011-10-27
	50. MICROCHIP TECHNOLOGY INC		2011-07-20	2011-10-27
	80. MICROSEMI CORP		2011-06-01	2011-10-27
	230. MORGAN STANLEY DEAN WITTER DIS CO			2011-10-27
	50. PLANTRONICS INC COMMON			2011-10-27
	40. RIO TINTO PLC SPONSORED ADR			2011-10-27
	20. ROPER INDS INC COMMON		2011-08-31	2011-10-27
	20. ROSETTA RESOURCES INC COMMON		2011-08-31	2011-10-27
	30. SCHLUMBERGER LTD		2003-04-04	2011-10-27
	10. SIEMENS AG SPONSORED ADR		2010-05-24	2011-10-27
	50. SOLERA HOLDINGS INC COMMON			2011-10-27
	590. SOUTHWEST AIRLINES			2011-10-27
	50. SUNCOR ENERGY, INC		2010-02-18	2011-10-27
	110. THERMO ELECTRON COMMON			2011-10-27
	20. WABCO HOLDINGS INC COMMON		2011-08-10	2011-10-27
	30. WASTE CONNECTIONS		2011-08-10	2011-10-27
	70. WILLIS GROUP HOLDINGS			2011-10-27
	170. TE CONNECTIVITY LTD			2011-10-27
	80. TYCO INTERNATIONAL LTD			2011-10-27
	140. TYCO INTERNATIONAL LTD			2011-10-27
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,248	928	320
b	739	610	129
c	539	355	184
d	3,721	3,154	567
e	353	302	51
	6,004	2,055	3,949
	426	270	156
	5,017	4,145	872
	3,405	1,757	1,648
	119	102	17
	666	380	286
	873	902	-29
	535	438	97
	790	475	315
	1,680	1,461	219
	1,399	1,193	206
	1,887	1,748	139
	454	354	100
	854	651	203
	1,842	1,375	467
	4,119	3,095	1,024
	1,692	1,501	191
	1,691	1,523	168
	835	819	16
	1,584	1,852	-268
	565	361	204
	3,277	755	2,522
	910	808	102
	1,883	1,767	116
	6,592	5,782	810
	1,158	952	206
	1,890	1,523	367
	439	329	110
	941	547	394
	537	578	-41
	1,078	806	272
	4,581	3,467	1,114
	618	499	119
	3,461	2,946	515
	1,080	802	278
	859	651	208
	1,630	1,133	497
	1,672	1,429	243
	1,837	1,502	335
	2,085	1,544	541
	2,865	2,105	760
	1,139	675	464
	1,081	1,081
	1,135	1,090	45
	1,651	1,166	485
	355	248	107
	1,943	1,057	886
	1,381	1,198	183
	1,915	2,049	-134
	1,138	799	339
	1,082	809	273
	2,831	1,545	1,286
	204	161	43
	2,204	1,474	730
	2,574	2,304	270
	866	716	150
	2,162	2,294	-132
	3,296	2,407	889
	1,384	1,182	202
	1,347	1,479	-132
	31,685	29,909	1,776
	2,393	1,905	488
	1,591	896	695
	796	544	252
	287	264	23
	951	878	73
	465	528	-63
	222	202	20
	844	806	38
	844	810	34
	628	468	160
	9,999	8,497	1,502
	1,676	1,631	45
	1,245	497	748
	4,882	3,815	1,067
	828	835	-7
	828	585	243
	945	938	7
	1,865	1,429	436
	378	293	85
	6,586	4,957	1,629
	50,000	51,526	-1,526
	5,170	4,824	346
	3,998	3,845	153
	2,638	2,202	436
	1,937	2,222	-285
	658	380	278
	1,316	981	335
	1,867	1,190	677
	933	615	318
	1,611	1,481	130
	2,161	1,701	460
	1,286	1,238	48
	50,000	50,826	-826
	2,859	1,781	1,078
	1,460	703	757
	8,243	6,972	1,271
	2,606	2,482	124
	1,778	1,531	247
	1,891	1,426	465
	1,160	759	401
	554	551	3
	666	611	55
	666	628	38
	961	1,075	-114
	1,734	949	785
	930	806	124
	4,221	2,118	2,103
	1,465	1,062	403
	6,923	6,022	901
	4,267	5,037	-770
	2,415	2,648	-233
	768	560	208
	884	571	313
	2,736	2,938	-202
	6,138	5,187	951
	3,243	2,570	673
	885	794	91
	664	553	111
	2,917	2,524	393
	1,041	949	92
	1,822	1,433	389
	4,782	3,802	980
	1,003	728	275
	2,007	1,521	486
	916	703	213
	2,291	1,301	990
	1,261	871	390
	6,547	4,578	1,969
	5,328	4,050	1,278
	3,080	2,284	796
	919	576	343
	628	355	273
	765	484	281
	2,749	2,863	-114
	4,143	2,928	1,215
	946	882	64
	1,891	1,094	797
	4,567	3,903	664
	1,835	1,328	507
	1,463	1,672	-209
	979	505	474
	766	426	340
	912	989	-77
	1,443	889	554
	1,529	1,538	-9
	954	892	62
	3,511	2,825	686
	638	451	187
	740	719	21
	2,722	2,718	4
	386	249	137
	1,090	1,107	-17
	3,684	2,628	1,056
	1,302	1,445	-143
	5,461	4,844	617
	1,581	991	590
	5,685	6,453	-768
	1,212	953	259
	747	953	-206
	934	1,178	-244
	1,191	964	227
	1,303	806	497
	869	1,003	-134
	869	999	-130
	13,534	11,785	1,749
	1,180	1,460	-280
	786	713	73
	1,067	1,196	-129
	5,127	3,590	1,537
	1,215	989	226
	945	976	-31
	1,142	987	155
	4,324	4,301	23
	2,215	2,603	-388
	5,639	4,350	1,289
	845	729	116
	2,677	2,252	425
	5,607	5,522	85
	1,523	988	535
	2,652	2,847	-195
	3,233	3,194	39
	1,191	907	284
	4,408	3,400	1,008
	1,058	1,172	-114
	987	1,396	-409
	1,444	1,969	-525
	973	852	121
	141	285	-144
	2,326	5,185	-2,859
	905	1,210	-305
	2,447	1,883	564
	13,339	12,081	1,258
	943	1,545	-602
	643	853	-210
	1,272	1,313	-41
	1,060	1,448	-388
	720	805	-85
	989	1,490	-501
	751	634	117
	1,742	2,498	-756
	777	893	-116
	2,663	2,621	42
	928	996	-68
	894	1,145	-251
	19,167	17,732	1,435
	575	1,034	-459
	752	1,253	-501
	748	1,068	-320
	1,506	1,361	145
	1,062	810	252
	1,010	1,380	-370
	1,720	1,973	-253
	1,477	852	625
	4,986	3,914	1,072
	937	1,024	-87
	2,966	3,241	-275
	1,061	1,155	-94
	1,849	1,934	-85
	1,693	2,139	-446
	1,074	1,196	-122
	941	1,283	-342
	2,602	3,810	-1,208
	781	1,093	-312
	2,342	3,643	-1,301
	746	1,035	-289
	1,340	1,387	-47
	1,499	1,645	-146
	2,068	2,357	-289
	1,259	1,576	-317
	946	1,001	-55
	189	200	-11
	2,065	1,422	643
	1,209	923	286
	2,048	2,829	-781
	731	1,049	-318
	3,950	5,547	-1,597
	662	958	-296
	662	547	115
	658	468	190
	832	1,371	-539
	1,868	2,048	-180
	940	748	192
	940	1,166	-226
	1,274	1,613	-339
	5,958	4,737	1,221
	1,100	1,456	-356
	6,229	7,505	-1,276
	2,910	2,883	27
	4,872	2,890	1,982
	692	652	40
	1,566	1,187	379
	789	1,436	-647
	1,144	1,116	28
	1,543	1,674	-131
	4,738	4,052	686
	766	998	-232
	2,460	1,639	821
	6,987	8,204	-1,217
	3,625	3,510	115
	816	795	21
	952	1,566	-614
	1,324	1,090	234
	1,552	1,850	-298
	517	596	-79
	1,342	1,089	253
	4,099	3,660	439
	1,822	1,635	187
	1,540	1,745	-205
	4,449	6,265	-1,816
	1,703	1,816	-113
	2,330	2,780	-450
	1,649	1,538	111
	921	908	13
	2,287	567	1,720
	1,115	878	237
	2,713	2,696	17
	5,218	7,407	-2,189
	1,652	1,523	129
	5,600	6,112	-512
	1,031	959	72
	1,064	911	153
	2,616	2,547	69
	6,252	4,816	1,436
	3,728	3,273	455
	6,523	5,194	1,329
			6

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			320
b			129
c			184
d			567
e			51
			3,949
			156
			872
			1,648
			17
			286
			-29
			97
			315
			219
			206
			139
			100
			203
			467
			1,024
			191
			168
			16
			-268
			204
			2,522
			102
			116
			810
			206
			367
			110
			394
			-41
			272
			1,114
			119
			515
			278
			208
			497
			243
			335
			541
			760
			464

			45
			485
			107
			886
			183
			-134
			339
			273
			1,286
			43
			730
			270
			150
			-132
			889
			202
			-132
			1,776
			488
			695
			252
			23
			73
			-63
			20
			38
			34
			160
			1,502
			45
			748
			1,067
			-7
			243
			7
			436
			85
			1,629
			-1,526
			346
			153
			436
			-285
			278
			335
			677
			318
			130
			460
			48
			-826
			1,078
			757
			1,271
			124
			247
			465
			401
			3
			55
			38
			-114
			785
			124
			2,103
			403
			901
			-770
			-233
			208
			313
			-202
			951
			673
			91
			111
			393
			92
			389
			980
			275
			486
			213
			990
			390
			1,969
			1,278
			796
			343
			273
			281
			-114
			1,215
			64
			797
			664
			507
			-209
			474
			340
			-77
			554
			-9
			62
			686
			187
			21
			4
			137
			-17
			1,056
			-143
			617
			590
			-768
			259
			-206
			-244
			227
			497
			-134
			-130
			1,749
			-280
			73
			-129
			1,537
			226
			-31
			155
			23
			-388
			1,289
			116
			425
			85
			535
			-195
			39
			284
			1,008
			-114
			-409
			-525
			121
			-144
			-2,859
			-305
			564
			1,258
			-602
			-210
			-41
			-388
			-85
			-501
			117
			-756
			-116
			42
			-68
			-251
			1,435
			-459
			-501
			-320
			145
			252
			-370
			-253
			625
			1,072
			-87
			-275
			-94
			-85
			-446
			-122
			-342
			-1,208
			-312
			-1,301
			-289
			-47
			-146
			-289
			-317
			-55
			-11
			643
			286
			-781
			-318
			-1,597
			-296
			115
			190
			-539
			-180
			192
			-226
			-339
			1,221
			-356
			-1,276
			27
			1,982
			40
			379
			-647
			28
			-131
			686
			-232
			821
			-1,217
			115
			21
			-614
			234
			-298
			-79
			253
			439
			187
			-205
			-1,816
			-113
			-450
			111
			13
			1,720
			237
			17
			-2,189
			129
			-512
			72
			153
			69
			1,436
			455
			1,329

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	63,991
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . .		3

Part V

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

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

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

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

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

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2010
2009
2008
2007
2006

2	Total of line 1, column (d) ......................	2
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
4	Enter the net value of noncharitable-use assets for 2011 from Part X, line 5.....	4
5	Multiply line 4 by line 3.......................	5
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6
7	Add lines 5 and 6.........................	7
8	Enter qualifying distributions from Part XII, line 4..............	8
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions on page 18.

Form 990-PF (2011)

Page 4

Part VI

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

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	1,798
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	1,798
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	1,798
6	Credits/Payments:

a	2011 estimated tax payments and 2010 overpayment credited to 2011	6a	2,136
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	2,136
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	338
11	Enter the amount of line 10 to be: Credited to 2012 estimated tax338	Refunded	11	0

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

Yes

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

instructions) bullet

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

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

Yes

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

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

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

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

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

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

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

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

Yes

Website address bullet

The books are in care of bullet

BRANCH BANKING & TRUST COMPANY Telephone no. bullet

(410) 626-6118

Located at bullet

23 WEST STREETANNAPOLISMD ZIP+4 bullet

214012420

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

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

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

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

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

Form 990-PF (2011)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If “Yes,” list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If “Yes,” did it have excess business holdings in 2011 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2011.)....................

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If “Yes” to 6b, file Form 8870.

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

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

Form 990-PF (2011)

Page 6

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
BRANCH BANKING & TRUST CO	TRUSTEE 1	22,906
23 WEST STREET ANNAPOLIS,MD214012420	TRUSTEE 1	22,906

2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions). If none, enter “NONE.”
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

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

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

Form 990-PF (2011)

Page 7

Part IX-B

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

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


2


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

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

Part X

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

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

purposes:

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

1,621,100

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

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

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

1,621,100

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

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

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

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

1,621,100

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

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

24,317

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

1,596,783

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

79,839

Part XI

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

and do not complete this part.)

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

79,839

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

1,798

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

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

1,798

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

78,041

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

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

78,041

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

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

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

78,041

Part XII

Qualifying Distributions (see page 25 of the instructions)

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

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

74,717

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

74,717

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

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

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

74,717

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2011)

Page 8

Part XIII

Undistributed Income (see page 26 of the instructions)

		(a) Corpus	(b) Years prior to 2010	(c) 2010	(d) 2011
1 Distributable amount for 2011 from Part XI, line 7					78,041
2 Undistributed income, if any, as of the end of 2011:
a Enter amount for 2010 only.......				74,717
b Total for prior years:2009, 20, 20			25,939
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: $ 74,717
a Applied to 2010, but not more than line 2a				74,717
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.....					0
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 ...........			25,939
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......			25,939
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 ..........					78,041
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see page 27 of the instructions) ...........		0
8Excess distributions carryover from 2006 not applied on line 5 or line 7 (see page 27 of the instructions) .............		0
9Excess distributions carryover to 2012. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2007....	0
b Excess from 2008....	0
c Excess from 2009....	0
d Excess from 2010....	0
e Excess from 2011....	0

Form 990-PF (2011)

Page 9

Part XIV

Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2011, enter the date of the ruling....... bullet

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

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

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

Part XV

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

1Information Regarding Foundation Managers:

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

NONE

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

NONE

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

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (2011)

Page 10

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
UNITED STATES NAVAL ACADEMY ATTN MRS MONA QUINN COMPTROLLER DEPT-181 WAINWRIGHT ANNAPOLIS,MD214025008	NONE	EXEMPT	SCHOLARSHIPS	74,717
Total ................................. 3a				74,717

bApproved for future payment

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

Form 990-PF (2011)

Page 11

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3Interest on savings and temporary cash investments			14	6,219
4 Dividends and interest from securities....			14	42,647
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	63,991
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aLITIGATION PROCEED			01	11
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				112,868

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

13112,868

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2011)

Page 12

Part XVII

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

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

Yes

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

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If “Yes,” complete the following schedule.

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

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

	Signature of officer or trustee	Date	Title

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

Form 990-PF (2011)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Description	Amount
DIFF IN MUTUAL FDS REC/REPORTED	370
ADJUSTMENT FOR ROUNDING	0