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
FREAS FOUNDATION MAN AGY 1871001360
 

Number and street (or P.O. box number if mail is not delivered to street address)2201 RIDGEWOOD RD STE 180   Room/suite
City or town, state, and ZIP code
WYOMISSING, PA19610
A Employer identification number

22-1714810
B Telephone number (see page 10 of the instructions)

(215) 412-8572
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$3,265,366J 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 259 259  
4 Dividends and interest from securities...... 78,992 68,078  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 230,586
b Gross sales price for all assets on line 6a 2,357,890
7 Capital gain net income (from Part IV, line 2)... 230,586
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).......      
12 Total. Add lines 1 through 11........ 309,837 298,923  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
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)....... 500      
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see page 14 of the instructions) 9,977 471   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)....... 14,057 13,694    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 24,534 14,165 0 0
25 Contributions, gifts, grants paid........ 152,297 152,297
26 Total expenses and disbursements. Add lines 24 and 25 176,831 14,165 0 152,297
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 133,006
b Net investment income (if negative, enter -0-) 284,758
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............... 6,332 10,667 10,667
2 Savings and temporary cash investments.......... 39,386 36,477 36,477
3 Accounts receivable bullet800
Less: allowance for doubtful accounts bullet   1,912 800 800
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........... 1,100 142 142
10a Investments—U.S. and state government obligations (attach schedule) 103,334 Click to see attachment539,215 564,253
b Investments—corporate stock (attach schedule)........ 1,969,709 Click to see attachment1,487,988 1,650,083
c Investments—corporate bonds (attach schedule)........ 195,952 Click to see attachment379,730 391,760
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 609,700 Click to see attachment605,412 611,184
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) 2,927,425 3,060,431 3,265,366
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......... 2,927,425 3,060,431
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).................... 2,927,425 3,060,431
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 2,927,425 3,060,431
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 2,927,425
2 Enter amount from Part I, line 27a..................... 2 133,006
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 3,060,431
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 3,060,431
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 275. AFLAC INC COM   2010-11-29 2011-07-05
b 320. AFLAC INC COM   2011-03-15 2011-07-05
c 10. ADTRAN INC COM   2010-09-13 2011-11-21
d 15. ADVANCE AUTO PARTS INC   2011-09-20 2011-11-21
e 30. AEROPOSTALE INC COM   2010-09-13 2011-11-21
220. ALLIANT ENERGY CORP COM   2011-03-07 2011-05-05
1763. ALTRIA GROUP INC COM   2009-06-09 2011-03-10
40. AMERICAN FINCL GROUP INC COM   2010-09-23 2011-11-21
95. AMETEK INC COM   2010-09-13 2011-07-07
20. AMETEK INC COM   2010-09-13 2011-11-21
55. AMGEN INC COM   2010-11-29 2011-04-07
115. AMGEN INC COM   2009-06-09 2011-04-07
510. AMGEN INC COM   2011-03-15 2011-04-07
235. AMPHENOL CORPORATION CL A   2010-09-13 2011-09-20
50000. ANHEUSER BUSCH COS INC DTD 03/09/2000 7.   2000-03-08 2011-04-06
50. AVISTA CORP COM   2010-12-20 2011-11-21
190. BJ'S WHOLESALE CLUB INC COM   2010-09-13 2011-07-07
20. BMC SOFTWARE INC COM   2010-09-13 2011-11-21
30. BOB EVANS FARMS COM   2011-07-07 2011-11-21
30. BROADRIDGE FINL SOL LLC COM   2010-09-13 2011-11-21
25. CABOT CORPORATION COM   2011-03-25 2011-11-21
275. CABOT CORPORATION COM   2011-03-24 2011-12-05
260. CALGON CARBON CORP COM   2010-09-13 2011-05-05
765. CAMERON INTERNATIONAL CORP COM   2011-02-17 2011-07-05
15. CATALYST HEALTH SOLUTIONS INC COM   2010-09-13 2011-11-21
95. CATALYST HEALTH SOLUTIONS INC COM   2010-09-13 2011-12-05
135. CATALYST HEALTH SOLUTIONS INC COM   2010-09-13 2011-12-21
40. CHEVRONTEXACO CORP COM   2010-11-29 2011-04-07
15. CHEVRONTEXACO CORP COM   2009-06-06 2011-04-07
355. CHEVRONTEXACO CORP COM   2011-03-15 2011-04-07
25. CHURCH AND DWIGHT CO INC COM   2011-09-20 2011-11-21
3950. CITIGROUP CAP VII 7.125% PFD CBL 07/31/0   2004-04-15 2011-04-06
180. COACH INC COM   2010-09-13 2011-07-07
750. COCA COLA CO COM   2009-06-09 2011-03-10
544. COLGATE PALMOLIVE CO COM   2009-06-09 2011-03-10
623.484 CONESTOGA SMALL CAP FUND   2010-11-29 2011-11-21
297.881 CONESTOGA SMALL CAP FUND   2010-08-02 2011-11-21
15. COPART INC COM   2010-09-13 2011-11-21
15. CUBIC CORP COM   2010-09-13 2011-11-21
15. CULLEN/FROST BANKERS INC COM   2011-07-07 2011-11-21
200. CULLEN/FROST BANKERS INC COM   2010-09-13 2011-12-05
60. CULLEN/FROST BANKERS INC COM   2011-07-07 2011-12-05
220. DANAHER CORP COM   2011-04-07 2011-09-20
90. DANAHER CORP COM   2011-03-15 2011-09-20
25. DENTSPLY INTERNATIONAL INC COM   2010-09-13 2011-11-21
85. DENTSPLY INTERNATIONAL INC COM   2010-09-13 2011-12-05
145. DENTSPLY INTERNATIONAL INC COM   2010-09-13 2011-12-21
15. DRESSER-RAND GROUP INC   2011-07-07 2011-11-21
190. EATON VANCE CORP COM   2010-09-13 2011-02-07
80. EXXON MOBIL CORPORATION COM   1983-12-22 2011-04-07
390. EXXON MOBIL CORPORATION COM   2011-03-15 2011-04-07
235. FMC CORP COM   2010-09-13 2011-03-24
10. FACTSET RESEARCH SYSTEMS INC COM   2011-10-04 2011-11-21
50. FAIRCHILD SEMICONDUCTOR INTL INC COM   2011-05-05 2011-11-21
15000. FHLB NOTE DTD 06/22/2007 5.5% 08/13/2014   2010-12-02 2011-11-21
15000. FHLMC NOTE DTD 03/27/2009 3.75% 03/27/20   2010-12-02 2011-11-21
15000. FHLMC NOTE DTD 08/06/2009 2.125% 09/21/2   2011-04-15 2011-08-10
5000. FHLMC NOTE DTD 08/06/2009 2.125% 09/21/2   2010-12-02 2011-08-10
15000. FHLMC NOTE DTD 12/02/2009 1.375% 01/09/2   2011-04-15 2011-08-11
5000. FHLMC NOTE DTD 12/02/2009 1.375% 01/09/2   2010-12-02 2011-08-11
20000. FNMA NOTE DTD 01/15/2010 1.75% 02/22/201   2010-12-02 2011-05-03
20000. FNMA NOTE DTD 01/15/2010 1.75% 02/22/201   2011-04-15 2011-08-24
5000. FNMA DTD 01/11/2008 3.625% 02/12/2013   2010-12-02 2011-08-18
15000. FNMA DTD 01/11/2008 3.625% 02/12/2013   2011-04-15 2011-08-18
5000. FNMA NOTE DTD 06/06/2008 3.875% 07/12/20   2010-12-02 2011-09-21
15000. FNMA NOTE DTD 06/06/2008 3.875% 07/12/20   2011-04-15 2011-09-21
35. FLOWERS FOODS INC COM   2011-07-07 2011-11-21
480. GENERAL ELECTRIC CO COM   2011-03-15 2011-07-05
425. GENERAL ELECTRIC CO COM   2010-11-29 2011-07-05
4000. GENERAL ELECTRIC CAPITAL CORP 6.625% 6/2   2007-10-30 2011-04-06
50000. GEN ELEC CAP CORP DTD 02/13/2007 5.4% 02   2009-09-02 2011-04-06
350. GOLDMAN SACHS GROUP INC   2005-02-23 2011-03-10
11005.696 GOLDMAN SACHS STRUCTURED INTERNATIONAL E   2010-08-02 2011-12-09
30. HCC INSURANCE HOLDINGS INC COM   2010-09-13 2011-11-21
300. HCC INSURANCE HOLDINGS INC COM   2010-09-13 2011-12-21
20. HARRIS CORPORATION COM   2010-09-13 2011-11-21
40. HORMEL FOODS CORP COM   2010-09-13 2011-11-21
10. HUBBELL INC CL B COM   2010-09-13 2011-11-21
235. INTERNATIONAL BUS MACHS CORP COM   2000-03-08 2011-04-07
310. INTERNATIONAL BUS MACHS CORP COM   2011-03-15 2011-04-07
310. INTUIT INC COM   2010-11-29 2011-05-13
350. INTUIT INC COM   2011-03-15 2011-05-13
30. J2 GLOBAL COMMUNICATIONS INC COM   2010-09-13 2011-11-21
4250. JP MORGAN CHASE CAP XI 5.875% 06/02/33 P   2006-08-10 2011-04-06
450. JOHNSON & JOHNSON COM   2011-03-15 2011-04-07
25. JOHNSON & JOHNSON COM   2004-04-15 2011-04-07
10. L-3 COMMUNICATIONS HOLDINGS COM   2010-09-13 2011-11-21
35. MEDICIS PHARMACEUTICAL - CL A   2010-09-21 2011-11-21
4100. MORGAN STANLEY CAP TR V 5.75% 07/15/33 S   2004-04-15 2011-04-06
270. MURPHY OIL CORP COM   2010-11-29 2011-02-17
30. NETFLIX INC COM   2010-09-13 2011-01-27
45. NETFLIX INC COM   2010-09-13 2011-05-05
614. NIKE INC CL B COM   2007-10-30 2011-03-10
5. PANERA BREAD COMPANY CL A COM   2010-09-13 2011-11-21
235. PEPSICO INC COM   2010-11-29 2011-03-16
15. PERRIGO CO COM   2010-09-13 2011-11-21
160. PHARMACEUTICAL PRODUCT DEVEL INC COM   2010-09-13 2011-10-04
1000. PRAXAIR, INC COM   2002-09-25 2011-03-10
739. PROCTER & GAMBLE CO COM   2000-03-08 2011-03-10
140. ROCK TENN COMPANY CL A   2010-09-13 2011-09-20
25. ROLLINS INC COM   2010-09-13 2011-11-21
20. ROSS STORES COM   2010-09-13 2011-11-21
335. SEI INVESTMENTS COMPANY COM   2010-09-13 2011-03-24
320. SIGMA ALDRICH CORP   2010-11-29 2011-03-07
570. STAPLES INC COM   2010-11-29 2011-04-08
630. STAPLES INC COM   2011-03-15 2011-04-08
195. STERIS CORP COM   2010-09-13 2011-03-28
305. STRYKER CORP COM   2010-11-29 2011-12-02
350. STRYKER CORP COM   2011-03-15 2011-12-02
1687. SYSCO CORP COM   2009-06-09 2011-03-10
5. TECHNE CORP COM   2010-09-13 2011-11-21
4950. TENNESSEE VALLEY AUTH 6.75% SER D PFD 6.75% QUIDS 6/1/28 06/01/2   2004-04-15 2011-04-06
5000. TENNESSEE VALLEY AUTH 6.50% SER A PFD   2004-09-09 2011-04-06
282. TEVA PHARMACEUTICAL INDS LTD COM   2007-10-30 2011-03-10
618. 3M CO COM   2009-06-06 2011-03-10
20. TORO CO COM   2010-09-13 2011-11-21
15. TUPPERWARE BRANDS CORP COM   2011-07-07 2011-11-21
20000. US TREAS INFLATION INDEX BD DTD 7/15/200   2011-04-15 2011-06-01
15000. US TREAS NOTE DTD 04/30/2010 1% 04/30/20   2011-04-15 2011-07-01
20. VALSPAR CORPORATION COM   2011-03-25 2011-11-21
180. VARIAN SEMICONDUCTOR EQUIPMENT ASSOC INC   2011-03-29 2011-05-05
35. VECTREN CORPORATION COM   2011-05-05 2011-11-21
230. WGL HOLDINGS INC   2010-09-23 2011-03-07
20. WADDELL & REED FINANCIAL INC CL A COM   2011-03-24 2011-11-21
50000. WAL-MART STORES DTD 01/23/2009 4.125% 02   2009-09-02 2011-04-06
310. WALGREEN CO COM   2011-03-15 2011-04-07
10. WATSCO INC COM   2011-02-07 2011-11-21
15. WESTERN DIGITAL CORP COM   2010-09-13 2011-11-21
15. JOHN WILEY & SONS, INC COM   2011-07-07 2011-11-21
120. WORLD FUEL SERVICES CORP COM   2010-09-13 2011-07-07
20. WORLD FUEL SERVICES CORP COM   2010-09-13 2011-11-21
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 12,757   14,336 -1,579
b 14,845   16,663 -1,818
c 315   341 -26
d 1,014   946 68
e 473   693 -220
8,662   8,739 -77
45,203   30,640 14,563
1,393   1,201 192
4,384   2,898 1,486
799   610 189
2,957   2,944 13
6,182   5,842 340
27,417   27,061 356
10,295   11,141 -846
52,825   49,780 3,045
1,212   1,130 82
9,571   7,893 1,678
705   791 -86
954   1,088 -134
651   675 -24
778   1,168 -390
9,373   12,201 -2,828
4,511   3,440 1,071
38,581   44,569 -5,988
719   657 62
4,994   4,162 832
6,838   5,914 924
4,330   3,275 1,055
1,624   1,056 568
38,430   35,688 2,742
1,070   1,127 -57
98,853   101,994 -3,141
12,382   7,207 5,175
48,974   36,892 12,082
43,008   38,297 4,711
13,979   12,850 1,129
6,678   5,547 1,131
643   522 121
658   593 65
734   861 -127
10,218   10,825 -607
3,065   3,005 60
10,078   11,449 -1,371
4,123   4,506 -383
847   752 95
3,058   2,558 500
5,098   4,363 735
716   834 -118
6,235   5,538 697
6,828   215 6,613
33,286   31,762 1,524
19,364   15,470 3,894
905   878 27
634   1,002 -368
16,928   17,086 -158
16,931   15,698 1,233
15,307   15,386 -79
5,102   5,139 -37
15,232   15,194 38
5,077   5,073 4
20,410   20,405 5
20,412   20,387 25
5,243   5,320 -77
15,730   15,794 -64
5,320   5,390 -70
15,960   15,995 -35
695   799 -104
9,097   9,515 -418
8,055   6,838 1,217
102,251   100,790 1,461
54,005   50,288 3,717
56,167   38,034 18,133
99,051   112,536 -13,485
782   788 -6
8,157   7,875 282
716   874 -158
1,149   890 259
621   483 138
38,485   23,941 14,544
50,767   49,005 1,762
17,262   14,105 3,157
19,489   17,925 1,564
841   682 159
105,044   100,942 4,102
26,675   26,253 422
1,482   1,364 118
650   695 -45
1,084   1,057 27
94,562   96,701 -2,139
19,446   18,209 1,237
6,310   4,434 1,876
10,368   6,651 3,717
54,142   38,680 15,462
662   435 227
14,687   15,066 -379
1,352   904 448
5,096   3,992 1,104
96,776   34,830 61,946
45,396   22,775 22,621
7,692   7,393 299
509   369 140
1,741   1,059 682
7,653   6,549 1,104
20,165   20,420 -255
11,593   12,523 -930
12,813   12,817 -4
6,738   6,164 574
14,921   15,515 -594
17,123   21,124 -4,001
46,830   40,184 6,646
323   301 22
124,074   122,727 1,347
125,326   121,457 3,869
13,874   11,953 1,921
55,793   37,345 18,448
1,084   1,077 7
817   1,072 -255
22,534   22,117 417
15,097   15,114 -17
677   771 -94
11,015   8,723 2,292
973   983 -10
8,802   8,528 274
515   781 -266
51,414   50,188 1,226
12,762   12,725 37
609   653 -44
391   404 -13
712   796 -84
4,464   3,137 1,327
796   523 273
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       -1,579
b       -1,818
c       -26
d       68
e       -220
      -77
      14,563
      192
      1,486
      189
      13
      340
      356
      -846
      3,045
      82
      1,678
      -86
      -134
      -24
      -390
      -2,828
      1,071
      -5,988
      62
      832
      924
      1,055
      568
      2,742
      -57
      -3,141
      5,175
      12,082
      4,711
      1,129
      1,131
      121
      65
      -127
      -607
      60
      -1,371
      -383
      95
      500
      735
      -118
      697
      6,613
      1,524
      3,894
      27
      -368
      -158
      1,233
      -79
      -37
      38
      4
      5
      25
      -77
      -64
      -70
      -35
      -104
      -418
      1,217
      1,461
      3,717
      18,133
      -13,485
      -6
      282
      -158
      259
      138
      14,544
      1,762
      3,157
      1,564
      159
      4,102
      422
      118
      -45
      27
      -2,139
      1,237
      1,876
      3,717
      15,462
      227
      -379
      448
      1,104
      61,946
      22,621
      299
      140
      682
      1,104
      -255
      -930
      -4
      574
      -594
      -4,001
      6,646
      22
      1,347
      3,869
      1,921
      18,448
      7
      -255
      417
      -17
      -94
      2,292
      -10
      274
      -266
      1,226
      37
      -44
      -13
      -84
      1,327
      273
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 2 230,586
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 135,348 3,153,174 0.042924
2009 175,464 2,884,391 0.060832
2008 217,376 3,602,683 0.060337
2007 213,058 4,218,319 0.050508
2006 194,331 4,030,625 0.048214
2 Total of line 1, column (d) ...................... 2 0.262815
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 0.052563
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 3,360,637
5 Multiply line 4 by line 3....................... 5 176,645
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,848
7 Add lines 5 and 6......................... 7 179,493
8 Enter qualifying distributions from Part XII, line 4.............. 8 152,297
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 5,695
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 5,695
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 5,695
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 5,364
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 5,364
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 9 331
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)bulletPA
    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 ofbulletNATIONAL PENN INVESTORS TRUST CO Telephone no.bullet (610) 372-6414
    Located atbullet2201 RIDGEWOOD ROAD STE 180WYOMISSINGPA ZIP+4bullet19610
    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
     
     
    .........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
    ARTHUR K FREAS PRESIDENT
    0     		0    
    5475 FLORENCE POINT DR
    FERNANDINA BEACH,FL32034
    LAWRENCE FREAS TREASURER
    0     		0    
    4425 EDGEHAM COURT
    EARLYSVILLE,VA22936
    NANCY PRATT VICE PRESIDENT
    0     		0    
    1435 OLD RELIANCE ROAD
    MIDDLETOWN,PA17057
    SUSAN MAGARGEE SECRETARY
    0     		0    
    484 STEELE HOLLOW
    JULIAN,PA16844
    DONALD FREAS VICE PRESIDENT
    0     		0    
    PO BOX 11951
    OLYMPIA ISLAND,WA985011951
    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 HYPATIA IN THE WOODS PO BOX 58 SHELDON WA 98584 8,350
    2 LINCOLN ELEMENTARY SCHOOL 213 21ST AVE SE OLYMPIA WA 98501 2,500
    3 CENTRE COUNTY WOMENS RESOURCE CENTER 140 W NITTANY AVENUE STATE COLLEGE PA 16802-4811 2,735
    4 FRIENDS OF WILDWOOD LAKE 100 WILDWOOD WAY HARRISBURG PA 17110 500
    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
    3,327,217
    b
    Average of monthly cash balances.......................
    1b
    84,597
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    3,411,814
    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
    3,411,814
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    51,177
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    3,360,637
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    168,032
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    168,032
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    5,695
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,695
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    162,337
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    162,337
    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
    162,337
    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
    152,297
    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
    152,297
    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
    152,297
    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 7 162,337
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 152,297
    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$ 152,297
    a Applied to 2010, but not more than line 2a 152,297
    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 ...........     		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 ..........     		162,337
    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).)
    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
    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
    ALBEMARLE HIGH SCHOOL
    ATHLETIC DEPARTMENT
    2775 HYDRAULIC ROAD
    CHARLOTTESVILLE,VA22901     		NONE 501(C)(3) GENERAL FUND 18,500
    AMELIA PLANTATION CHAPEL
    1450 BOWMAN ROAD
    AMELIA ISLAND,FL320358014     		NONE 501(C)(3) GENERAL FUND 4,000
    CAPON BRIDGE ELEMENTARY
    SCHOOL
    PO BOX 127
    CAPON BRIDGE,WV26711     		NONE 501(C)(3) GENERAL FUND 2,000
    CENTRAL PENNSYLVANIA FOOD
    BANK
    3908 COREY ROAD
    HARRISBURG,PA17109     		NONE 501(C)(3) GENERAL FUND 2,000
    CENTRE COUNTY LAW
    ENFORCEMENT CAMP CADET INC
    118 S FRASER STREET
    STATE COLLEGE,PA168013899     		NONE 501(C)(3) GENERAL FUND 2,000
    CENTER COUNTY WOMEN'S
    RESOURCE CENTER
    140 W NITTANY AVENUE
    STATE COLLEGE,PA168024811     		NONE 501(C)(3) GENERAL FUND 2,735
    CENTRE VOLUNTEERS IN
    MEDICINE
    251 EASTERLY PKWY SUITE 102
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 3,290
    FORT EDWARDS FOUNDATION
    PO BOX 623
    CAPON BRIDGE,WV26711     		NONE 501(C)(3) GENERAL FUND 4,500
    GARDEN-RAISED BOUNTY
    (GRUB)
    711 STATE AVENUE NE
    OLYMPIA,WA98506     		NONE 501(C)(3) GENERAL FUND 19,150
    HARRISBURG AREA COMMUNITY
    COLLEGE
    ONE HACC WAY
    HARRISBURG,PA17110     		NONE 501(C)(3) GENERAL FUND 10,000
    HYPATIA IN THE WOODS
    PO BOX 58
    SHELDON,WA98584     		NONE 501(C)(3) GENERAL FUND 8,350
    ORCH OF ALBERMALE HIGH
    JOUETT & SUTHERLAND SCHS
    2775 HYDRAULIC ROAD
    CHARLOTTESVILLE,VA22901     		NONE 501(C)(3) GENERAL FUND 5,000
    SCHLOW CENTRE COUNTY
    LIBRARY
    211 S ALLEN STREET
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 9,000
    SUSAN P BYRNES HEALTH
    EDUCATION CENTER
    515 S GEORGE STREET
    YORK,PA17403     		NONE 501(C)(3) GENERAL FUND 8,297
    UNITARIAN CHURCH OF
    HARRISBURG
    1280 CLOVER LANE
    HARRISBURG,PA17113     		NONE 501(C)(3) GENERAL FUND 10,000
    HOUSE OF CARE
    515 W BEAVER AVE
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 2,000
    MANADA CONSERVANCY
    PO BOX 25
    HUMMELSTOWN,PA17036     		NONE 501(C)(3) GENERAL FUND 5,000
    STATE THEATRE INC
    130 W COLLEGE AVE
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 2,500
    DONE AND DONE
    PO BOX 6382
    OLYMPIA,WA98507     		NONE 501(C)(3) GENERAL 5,000
    GLOBAL EMERGENCY HEALTH
    CARE CENTER
    2033 W IOWA ST 3
    CHICAGO,IL60622     		NONE 501(C)(3) GENERAL 8,975
    YMCA OF CENTRE COUNTY
    677 W WHITEHALL ROAD
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 2,500
    ACE MENTOR PROGRAM
    PO BOX 4298
    FREDERICK,MD21705     		NONE 501(C)(3) GENERAL FUND 2,500
    BENEDICTINE PROGRAMS AND SERVICES
    14299 BENEDICTINE LANE
    REIGELY,MD21660     		NONE 501(C)(3) GENERAL FUND 5,000
    CLIMBING CONSERVANCY OF CENTRAL PA
    1307 UNIVERSITY DRIVE
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 2,000
    DAUPHIN COUNTY LIBRARY
    101 WALNUT STREET
    HARRISBURG,PA17011     		NONE 501(C)(3) GENERAL FUND 5,000
    FRIENDS OF WILDWOOD LAKE
    100 WILDWOOD WAY
    HARRISBURG,PA17110     		NONE 501(C)(3) GENERAL FUND 500
    LINCOLN ELEMENTARY SCHOOL
    213 21ST AVE SE
    OLYMPIA,WA98501     		NONE 501(C)(3) GENERAL FUND 2,500
    Total .................................bullet 3a 152,297
    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     14 259  
    4 Dividends and interest from securities....     14 78,992  
    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     18 230,586  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   309,837  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13309,837
    (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:
    FREAS FOUNDATION MAN AGY 1871001360
    EIN: 22-1714810
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ANHEUSER BUSCH COS 7.5%3/15/12    
    GE CAP CORP 5.4% 2/15/07    
    WAL-MART STORES 4.125% 2/1/19    
    JP MORGAN CHASE & CO 1/29/08 23,565 23,447
    COSTCO WHSL CORP 2/20/2007 5.5 34,551 35,832
    GENERAL ELECTRIC CO 1/28/2003 21,393 20,842
    GLAXOSMITHKLINE CAP INC 5/13 22,782 24,072
    INTERNATIONA BUS MACHS 9/14/07 28,727 30,272
    ORACLE CORP 7/8/2009 3.75% 32,040 32,264
    SBC COMMUNICATIONS 8/18/04 5.6 28,188 28,679
    WAL-MART STORES 4/5/07 5.375% 34,039 35,405
    ALLSTATE LIFE GL 4/24/08 5.375 21,643 21,119
    WELLS FARGO CO 10/1/09 3.75% 15,857 15,836
    US BANCORP 7/27/10 2.45% 14,964 15,373
    GEN ELEC CAP 1/7/11 4.625% 20,886 20,749
    BANK OF NY MELLON 9/23/11 3.55 20,257 20,289
    PEPSICO INC 10/26/10 3.125% 13,975 15,590
    MERCK & CO 12/10/10 3.875% 14,749 16,887
    OCCIDENTAL PETE CORP 15,053 16,804
    CON EDISON CO NY 4/1/08 5.85% 17,061 18,300

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    FREAS FOUNDATION MAN AGY 1871001360
    EIN: 22-1714810
    Name of Stock End of Year Book Value End of Year Fair Market Value
    EXXON MOBIL CORP 1,531 48,313
    GENERAL ELECTRIC    
    INTL BUSINESS MACHINES CORP 17,901 48,728
    JOHNSON & JOHNSON 46,281 54,563
    MICROSOFT CORP 47,684 48,545
    PRAXAIR INC    
    PROCTER & GAMBLE CO    
    DANAHER CORP 25,764 26,813
    UNITED TECHNOLOGIES CORP 48,621 45,316
    WALGREEN CO 48,058 47,243
    CITIGROUP CAP VII TRUPS 7.125%    
    MORGAN STANLEY 5.75% 7/15/33    
    TENNESSE VALLEY PREF D    
    TENNESSE VALLEY 6.5% PREF    
    GOLDMAN SACHS GROUP INC    
    PEPSICO INC COM 27,190 28,199
    J P MORGAN 5.875% PREFERRED    
    APPLE, INCORPORATED 44,507 54,675
    AT&T, INCORPORATED 46,635 49,291
    GENERAL ELECTRIC CAP PFD    
    HEWLETT PACKARD CO 36,575 22,540
    LABORATORY COPR OF AMER HLDG 21,479 21,493
    L3 COMMUNICATIONS HLDG 9,640 9,335
    NIKE INC    
    TEVA PHARMACEUTICAL INDS LTD    
    COCA COLA CO    
    SYSCO CORP    
    ALTRIA GROUP INC    
    COLGATE PALMOLIVE CO 29,349 30,489
    AMGEN INC 41,356 50,790
    CHEVRON CORPORATION 37,165 56,179
    3M CO    
    AFLAC INC    
    ADTRAN INC 4,597 4,072
    AEROPOSTALE INC 6,927 4,575
    ALTERA CORPORATION 41,978 40,625
    AMERICAN FINCL GROUP INC 9,699 11,989
    AMETEK INC 12,050 16,630
    AMPHENOL CORPORATION    
    AVISTA CORP 10,845 12,360
    BJ'S WHOLESALE CLUB INC    
    BMC SOFTWARE INC 6,522 5,409
    BOB EVANS FARMS 8,713 9,894
    BROADRIDGE FINL SOL LLC 7,425 7,442
    CH ROBINSON WORLDWID INC 29,647 28,261
    CALGON CARBON CORP    
    CATALYST HEALTH SOLUTIONS INC    
    COACH INC    
    COPART INC 4,524 6,226
    CUBIC CORP 4,741 5,231
    CULLEN/FROST BANKERS INC    
    DARDEN RESTAURANTS INC 44,988 42,617
    DENTSPLY INTERNATIONAL INC    
    EATON VANCE CORP    
    FMC CORP    
    FACTSET RESEARCH SYSTEMS INC 11,741 12,219
    FEDERATED INVESTORS INC 33,316 20,074
    GENERAL MILLS INC 25,877 29,095
    HCC INSURANCE HOLDINGS INC    
    HARRIS CORPORATION 6,990 5,766
    HORMEL FOODS CORP 8,904 11,716
    HUBBELL INC 6,040 8,358
    INTUIT INC    
    J2 GLOBAL COMMUNICATIONS INC 5,910 7,316
    MCCORMICK & COMPANY INC 53,174 58,235
    MCGRAW HILL COS INC 41,373 50,366
    MCKESSON HBOC INC 31,745 34,670
    MDEDICIS PHARMACEUTICAL 11,645 13,965
    MURPHY OIL CORP    
    NETFLIX INC    
    ORACLE CORP 43,941 37,706
    PANERA BREAD COMPANY 6,964 11,316
    PERRIGO CO 8,741 14,109
    PFIZER INC 27,111 30,404
    PHARMACEUTICAL PRODUCT DEVEL I    
    PROGRESSIVE CORP OHIO 23,129 21,851
    QUALCOMM INC 27,143 29,538
    ROCK TENN COMPANY    
    ROLLINS INC 3,495 5,266
    ROSS STORES 10,061 18,061
    SEI INVESTMENTS COMPANY    
    SIGMA ALDRICH CORP    
    STAPLES INC    
    STERIS CORP    
    STRYKER CORP    
    TECHNE CORP 4,215 4,778
    TORO CO 8,619 9,706
    TUPPERWARE BRANDS CORP 6,536 8,116
    VF CORPORATION 24,724 34,922
    WGL HOLDINGS INC    
    WESTERN DIGITAL CORP 2,964 3,405
    JOHN WILEY & SONS INC 9,050 8,924
    WISCONSIN ENERGY CORP 36,259 42,302
    WORLD FUEL SERVICES CORP 5,881 9,446
    ADVANCE AUTO PARTS INC 7,566 8,356
    APTARGROUP INC 10,615 10,695
    BALL CORP 37,543 37,674
    BAXTER INTL INC 28,878 23,750
    CHURCH & DWIGHT CO INC 13,120 13,957
    COMMERCE BANCSHARES 7,786 7,815
    COOPER COS INC 5,258 5,289
    DIAMOND OFFSHORE DRILLING 20,820 16,025
    DISCOVER FINL SERVICES 34,493 30,840
    DRESSER-RAND GROUP INC 6,116 5,490
    FAIRCHILD SEMICONDUCTOR INTL 11,465 7,465
    FLOWERS FOODS INC 7,530 6,263
    FULTON FINL CORP 7,746 7,897
    ARTHUR J GALLAGHER 7,060 7,357
    PROTECTIVE LIFE CORP 7,155 7,445
    TJX COS INC 33,517 42,603
    VALSPAR CORP 9,579 9,743
    VECTREN CORP 11,941 12,848
    WADDELL & REED FINL INC CL A 7,615 4,830
    WATSCO INC 4,245 4,268

    TY 2011 InvestmentsGovtObligationsSch
    Name:
    FREAS FOUNDATION MAN AGY 1871001360
    EIN: 22-1714810
    US Government Securities - End of Year Book Value:

    539,215
    US Government Securities - End of Year Fair Market Value:

    564,253
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2011 InvestmentsOtherSchedule2
    Name:
    FREAS FOUNDATION MAN AGY 1871001360
    EIN: 22-1714810
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ARTISAN INTERNATIONAL AT COST 116,825 110,317
    GOLDMAN SACHS STRUCTURED INTL      
    CONESTOGA SMALL CAP AT COST 144,453 175,485
    GOLDMAN SACHS SATELLITE STRAT AT COST 232,950 218,566
    HENDERSON INTL OPPORTUNITIES AT COST 111,184 106,816