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
THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
 

Number and street (or P.O. box number if mail is not delivered to street address)JPMORGAN CHASE BANK BOX 3038   Room/suite
City or town, state, and ZIP code
MILWAUKEE, WI53201
A Employer identification number

13-7105970
B Telephone number (see page 10 of the instructions)

(414) 977-1210
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$4,848,530J 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 84 84  
4 Dividends and interest from securities...... 111,441 111,556  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 214,997
b Gross sales price for all assets on line 6a 3,633,001
7 Capital gain net income (from Part IV, line 2)... 221,749
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 408 408  
12 Total. Add lines 1 through 11........ 326,930 333,797  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 57,729 43,297   14,432
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 8,417 1,291   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 250 1,538   250
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 66,396 46,126   14,682
25 Contributions, gifts, grants paid........ 235,591 235,591
26 Total expenses and disbursements. Add lines 24 and 25 301,987 46,126   250,273
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 24,943
b Net investment income (if negative, enter -0-) 287,671
c Adjusted net income (if negative, enter -0-)...  
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2011)
Form 990-PF (2011)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 73,619 32,432 32,432
2 Savings and temporary cash investments.......... 93,654 130,056 130,056
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 0 Click to see attachment527,212 569,175
b Investments—corporate stock (attach schedule)........ 3,096,120 Click to see attachment3,489,230 3,485,344
c Investments—corporate bonds (attach schedule)........ 1,508,833 Click to see attachment631,370 631,523
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment2 Click to see attachment2 Click to see attachment0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,772,228 4,810,302 4,848,530
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 4,772,228 4,810,302
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see page 17 of the
instructions).................... 4,772,228 4,810,302
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 4,772,228 4,810,302
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 4,772,228
2 Enter amount from Part I, line 27a..................... 2 24,943
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 13,160
4 Add lines 1, 2, and 3.......................... 4 4,810,331
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 29
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 4,810,302
Form 990-PF (2011)
Form 990-PF (2011)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b POWERSHARES DB COMMODITY TRACKING INDEX FD- ST CAP LOSS P   2011-12-31
c POWERSHARES DB COMMODITY TRACKING INDEX FD- LT CAP GAIN P   2011-12-31
d POWERSHARES DB COMMODITY TRACKING INDEX FD- SEC 1256 CAP GAIN P   2011-12-31
e CAPITAL GAINS DIVIDENDS P    
(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 3,621,967   3,418,004 203,963
b       -845
c       1,394
d       6,203
e 11,034     11,034
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       203,963
b       -845
c       1,394
d       6,203
e       11,034
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 2 221,749
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 221,482 5,046,270 0.043890
2009 270,940 4,502,576 0.060174
2008 295,500 5,412,279 0.054598
2007 247,866 5,845,358 0.042404
2006 133,073 4,826,059 0.027574
2 Total of line 1, column (d) ...................... 2 0.228640
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 0.045728
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 5,199,235
5 Multiply line 4 by line 3....................... 5 237,751
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,877
7 Add lines 5 and 6......................... 7 240,628
8 Enter qualifying distributions from Part XII, line 4.............. 8 250,273
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 2,877
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 2,877
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 2,877
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 4,201
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 4,201
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,324
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet1,324 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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletNY
    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 addressbulletN/A
    14
    The books are in care ofbulletJPMORGAN CHASE BANK NA Telephone no.bullet (585) 797-2619
    Located atbulletONE CHASE SQUAREROCHESTERNY ZIP+4bullet14643
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2011?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2011, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2011?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2011 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2011.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    JPMORGAN CHASE BANK CO-TRUSTEE
    2.00     		53,420 0 0
    PO BOX 3038
    MILWAUKEE,WI53201
    RICHARD HENRY PERSHAN CO-TRUSTEE
    2.00     		4,309 0 0
    1435 LEXINGTON AVE APT 5B
    NEW YORK,NY10128
    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 N/A 0
    2  
    3  
    4  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A 0
    2  
    All other program-related investments. See page 24 of the instructions.
    3 Click to see attachment 0
    Total. Add lines 1 through 3..........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    5,124,380
    b
    Average of monthly cash balances.......................
    1b
    154,031
    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
    5,278,411
    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
    5,278,411
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    79,176
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,199,235
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    259,962
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    259,962
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    2,877
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,877
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    257,085
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    257,085
    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
    257,085
    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
    250,273
    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
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    250,273
    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
    2,877
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    247,396
    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 7 257,085
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 235,591
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2011:
    a From 2006.......  
    b From 2007.......  
    c From 2008.......  
    d From 2009.......  
    e From 2010.......  
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 250,273
    a Applied to 2010, but not more than line 2a 235,591
    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..... 14,682
    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 ..........     		242,403
    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....  
    b Excess from 2008....  
    c Excess from 2009....  
    d Excess from 2010....  
    e Excess from 2011....  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2011, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2011 (b) 2010 (c) 2009 (d) 2008
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ANDERSON UNIVERSITY FOR KAYLA R HUNTER
    110 E 5TH STREET
    ANDERSON,IN46012     		NONE EDUCATIONAL SCHOLARSHIP 3,500
    BELMONT UNIV FBO ALEXANDRA M PLANTE
    1900 BELLMONT AVE
    NASHVILLE,TN37212     		NONE EDUCATIONAL SCHOLARSHIP 3,000
    BIRMINGHAM SOUTHERN COLLEGE FBO CAROLINE M CRAWFORD
    900 ARKADELPHIA ROAD
    BIRMINGHAM,AL35254     		NONE EDUCATIONAL SCHOLARSHIP 5,000
    DUKE UNIVERSITY FOR MARIETTA Y JOHNSTON
    2127 CAMPUS DRIVE ANNEX BOX 90397
    DURHAM,NC27708     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    DUKE UNIVERSITY FBO JUSTIN W ERICSON
    2127 CAMPUS DRIVE ANNEX BOX 90397
    DURHAM,NC27708     		NONE EDUCATIONAL SCHOLARSHIP 5,000
    DUNWOODY COLLEGE OF TECHNOLOGY FOR BRYCE MC BLOHM
    818 DUNWOODY BLVD
    MINNEAPOLIS,MN55403     		NONE EDUCATIONAL SCHOLARSHIP 3,500
    ELON UNIVERSITY FOR ANDREW R HAVENS
    2725 CAMPUS BOX
    ELON,NC27244     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    ELON UNIVERSITY FOR CAROLINE V HALLETT
    2725 CAMPUS BOX
    ELON,NC27244     		NONE EDUCATIONAL SCHOLARSHIP 3,500
    HAMILTON COLLEGE FBO PETER J LACIANO
    198 COLLEGE HILL RD OFFICE OF
    FINANCIAL AID
    CLINTON,NY13323     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    HOBART AND WILLIAM SMITH COLLEGES FBO KATHERINE E LEVENSTEIN
    OFFICE OF FINANCIAL AID
    GENEVA,NY14456     		NONE EDUCATIONAL SCHOLARSHIP 5,000
    JAMES MADISON UNIVERSITY FBO JILLIAN L VIAR
    170 BLUESTONE DRIVE MSC 3519
    HARRISONBURG,VA22807     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    JAMES MADISON UNIV FBO CAROLINE J MCKEAN
    170 BLUESTONE DRIVE MSC 3519
    HARRISONBURG,VA22807     		NONE EDUCATIONAL SCHOLARSHIP 3,000
    KEENE STATE COLLEGE FBO JACOB LEVENSTEIN
    FIANCIAL AID OFFICE 229 MAIN STREET
    KEENE,NH03435     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    KENYON COLLEGE FBO JOHN D MCKEAN
    OFFICE OF FINANCIAL AID STEPHENS
    HALL
    GAMBIER,OH43022     		NONE EDUCATIONAL SCHOLARSHIP 4,500
    LONGWOOD UNIVERSITY FBO BENJAMIN A DAUGHTREY
    201 HIGH STREET
    FARMVILLE,VA23909     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    LOUISIANA STATE UNIVERSITY FOR LEAH M DELAHOUSSAYE
    1146 PLEASANT HALL OFFICE OF UG
    ADMISSIONS
    BATON ROUGE,LA70803     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    MANHATTAN COLLEGE FBO KATHRYN ANN INZINNA
    4513 MANHATTAN COLLEGE PARKWAY
    RIVERDALE,NY10471     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    MANSFIELD UNIVERSITY FOR JESSICA L SCORDINO
    224 SOUTH HALL 71 S ACADEMY STREET
    MANSFIELD,PA16933     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    MANSFIELD UNIV FBO KRISTY LYNN SCORDINO
    224 SOUTH HALL 71 S ACADEMY STREET
    MANSFIELD,PA16933     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    MICHIGAN STATE UNIV FBO PAUL CLINTON GREGORY
    STUDENT SERVICES BLDG556 EAST
    CIRCLE DR RM 252
    LANSING,MI48824     		NONE EDUCATIONAL SCHOLARSHIP 5,000
    NORTHEASTERN UNIV FBO KILLIAN VANR STRONG
    354 RICHARDS HALL 360 HUNITINGTON
    AVE
    BOSTON,MA02115     		NONE EDUCATIONAL SCHOLARSHIP 5,000
    OHIO STATE UNIV FBO ZACHARY M HOUSTON
    EANARSON HALL 154 W 12TH AVE
    COLUMBUS,OH43210     		NONE EDUCATIONAL SCHOLARSHIP 3,000
    SEWANEE THE UNIV OF THE SOUTH FBO LAUREN E LEE
    OFFICE OF ADMISSION 735 UNIVERSITY
    AVE
    SEWANEE,TN37383     		NONE EDUCATIONAL SCHOLARSHIP 4,500
    SEWANEE THE UNIV OF THE SOUTH FBO VIRGINIA M ZAKAS
    OFFICE OF ADMISSION 735 UNIVERSITY
    AVE
    SEWANEE,TN37383     		NONE EDUCATIONAL SCHOLARSHIP 3,500
    TRINITY UNIVERSITY FBO WILLIAM L CRAWFORD
    ONE TRINITY PLACE OFFICE OF
    FINANCIAL AID
    SAN ANTONIO,TX78212     		NONE EDUCATIONAL SCHOLARSHIP 5,000
    UNIVERSITY OF BUCKINGHAM FBO CAROLINE G RAINEY
    STUDENT FEES OFFICE HUNTER STREET
    BUCKINGHAM   MK18 1 EG
    UK     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    UNIVERSITY OF CINCINNATI FBO ETHAN E WALDMANN
    STUDENT FINANCIAL AID PO BOX 210125
    CINCINNATI,OH45221     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    UNIVERSITY OF CHICAGO FBO JAMES L MCCORMICK
    COLLEGE AID 1101 E 58TH ST
    CHICAGO,IL60637     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    UNIVERSITY OF COLORADO FBO MILES J WORKS
    OFF OF FINANCIAL AID 556 UCB
    BOULDER,CO80309     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    UNIVERSITY OF GEORGIA FBO LAYNE A DEUTSCHER JR
    BURSARS OFFICE BUSINESS SERVICES
    ATHENS,GA30602     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    UNIVERSITY OF GEORGIA FBO JOHN R WESTON
    BURSARS OFFICE BUSINESS SERVICES
    ATHENS,GA30602     		NONE EDUCATIONAL SCHOLARSHIP 3,500
    UNIVERSIDAD DE GRANADA FBO ISABELLE H BARRYMORE
    AVENIDA SEVERA OCHOA S/N
    GRANADA   18071
    ES     		NONE EDUCATIONAL SCHOLARSHIP 3,500
    UNIVERSITY OF KINGS COLLEGE FBO EMMA E SUTRO
    A S BUILDING 2ND FL 6350 COBURG
    ROAD
    HALIFAX,NOVA SCOTIAB3H 2A1
    CA     		NONE EDUCATIONAL SCHOLARSHIP 4,500
    UNIVERSITY OF MASSACHUSETTS FBO RYAN W KOPPER
    225 WHITMORE ADMINISTRATION BLDG
    181 PRESIDENTS DR
    AMHERST,MA01003     		NONE EDUCATIONAL SCHOLARSHIP 3,000
    UNIVERSITY OF MIAMI-MILLER FBO WILLIAM B WARD
    PO BOX 016159
    MIAMI,FL33136     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    UNIVERSITY OF NORTH CAROLINA FBO LAUREN L LONG
    111 PETTIGREW HALL
    CHAPEL HILL,NC27599     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    UNIVERSITY OF RHODE ISLAND FB JESSICA M BURKE
    OFFICE OF ADMISSION 14 UPPER
    COLLEGE ROAD
    KINGSTON,RI02881     		NONE EDUCATIONAL SCHOLARSHIP 2,000
    UNIVERSITY OF SOUTH CAROLINA FBO SAVANNAH D BROACH
    OFFICE OF FINANCIAL AID 1714
    COLLEGE ROAD
    COLUMBIA,SC29208     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    UNIVERSITY OF SOUTH CAROLINA FBO JANESSA L HEYWARD
    OFFICE OF FINANCIAL AID 1714
    COLLEGE ST
    COLUMBIA,SC29208     		NONE EDUCATIONAL SCHOLARSHIP 3,000
    UNIVERSITY OF UTAH FBO KARA A ADAMS
    201 S 1460 EAST RM 105
    SALT LAKE CITY,UT84112     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    UNIVERSITY OF VIRGINIA FBO KATHERINE F LAMBERTSON
    STUDENT FINANCIAL SERVICES PO BOX
    400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    UNIVERSITY OF VIRGINIA FBO MATSON L ROBERTS JR
    STUDENT FINANCIAL SERVICES PO BOX
    400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    UNIVERSITY OF VIRGINIA FBO DAVID M TONACCI
    STUDENT FINANCIAL SERVICES PO BOX
    400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 4,000
    UNIVERSITY OF VIRGINIA FBO NANCY P ZAKAS
    STUDENT FINANCIAL SERVICES PO BOX
    400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 3,500
    UNIVERSITY OF WISCONSIN- RIVER FALLS
    410 S 3RD STREET
    RIVER FALLS,WI54022     		NONE EDUCATIONAL SCHOLARSHIP 4,500
    URSINIUS COLLEGE FBO KYLE E DAVIS
    STUDENT FINANCIAL SERVICES PO BOX
    1000
    COLLEGEVILLE,PA19426     		NONE EDUCATIONAL SCHOLARSHIP 3,500
    VANDERBILT UNIVERSITY FBO EMILY L WOODS
    2305 WEST END AVE OFFICE OF
    ADMISSIONS
    NASHVILLE,TN37203     		NONE EDUCATIONAL SCHOLARSHIP 5,000
    VIRGINIA COMMONWEALTH UNIVERSITY FBO SALLIE PENN TURNER
    HARRIS HALL 1015 FLOYD AVE PO BOX
    843026
    RICHMOND,VA23284     		NONE EDUCATIONAL SCHOLARSHIP 3,000
    VIRGINIA TECH FBO JONATHAN T SCHMICK JR
    OFF OF UNIVERSITY SCHOLARSHIPS
    MC022
    BLACKSBURG,VA24061     		NONE EDUCATIONAL SCHOLARSHIP 2,000
    YALE UNIVERSITY
    STUDENT FINANCIAL SERVICES PO BOX
    208288
    NEW HAVEN,CT06520     		NONE EDUCATIONAL GRANT: GENERAL SCHOLARSHIP FUND 591
    YALE UNIVERSITY FBO TIMOTHY J LACIANO
    157 CHURCH STREET
    NEW HAVEN,CT06510     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    BRANDEIS UNIVERSITY FO JOHN B HOMANS
    USDAN STUDENT CENTER 415 SOUTH ST
    WALTHAM,MA02453     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    COLGATE UNIVERSITY FBO DAVID B HAIMES
    13 OAK DRIVE
    HAMILTON,NY13346     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    UNIVERSITY OF VIRGINIA FBO ANNE C CROFT
    STUDENT FINANCIAL SERVICES PO BOX
    400204
    CHARLOTTESVILLE,VA22904     		NONE EDUCATIONAL SCHOLARSHIP 6,000
    Total .................................bullet 3a 235,591
    bApproved for future payment
    Total .................................bullet 3b 0
    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 84  
    4 Dividends and interest from securities....     14 111,441  
    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..... 900099 408      
    8Gain or (loss) from sales of assets other than inventory     18 214,997  
    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).. 408 326,522 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13326,930
    (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 AllOthProgRltdInvestmentsSch
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    Category Amount
    N/A 0

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    Name of Bond End of Year Book Value End of Year Fair Market Value
    JPM INTL CURRENCY INCOME FD - 4744.092 SHS 51,426 51,379
    JPM TR I MLT SC INC - SEL - 5370.92 SHS 54,300 53,494
    EATON VANCE MUT FDS TR FLT RT CL I - 12101.198 SHS 106,788 106,612
    JPM HIGH YIELD FD - SEL - 12960.822 SHS 99,637 98,761
    DREYFUS/LAUREL FDS TR PRM EMRGN MK I - 3775.465 SHS 53,612 49,685
    DB 95% PPN FX BASKET 2/1/13- 40000 SHS 39,645 36,968
    BARC 93% PPN CURRENCY BASKET 9/13/131 - 40000 SHS 39,664 37,540
    FANNIE MAE NOTES 4 3/8% OCT 15 2015 - 35000 SHS 37,612 39,550
    FANNIE MAE NOTES 5% FEB 13 2017 - 50000 SHS 49,296 59,048
    FHLMC 1% AUG 20 2014- 30000 SHS 30,206 30,190
    FANNIE MAE NOTES 4 5/8% OCT 15 2013 - 20000 SHS 19,335 21,508
    FANNIE MAE NOTES 4 3/4% NOV 19 2012 - 45000 SHS 49,849 46,788

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    Name of Stock End of Year Book Value End of Year Fair Market Value
    TYCO INTERNATIONAL INC- 90. SHS 3,456 4,204
    TIME WARNER INC NEW - 283 SHS 6,660 10,228
    MERCK AND CO INC - 293 SHS 9,494 11,046
    HIGHBRIDGE DYNAMIC COMM STRG FD -SEL - 5614.873 SHS 90,344 96,183
    NEXTERA ENERGY INC - 50 SHS 2,856 3,044
    MATTHEWS PACIFIC TIGER INSTL FUND - 4839.519 SHS 96,500 98,339
    DB BREN ASIA BASKET 01/06/12 - 80000 SHS 79,200 73,496
    CS BREN EAFE 2/29/12 - 55000 SHS 54,450 47,685
    BARC REN SPX 3/21/12 - 80000 SHS 79,200 76,896
    DB BREN EAFE 3/28/12 - 55000 SHS 54,450 48,818
    COVIDIEN PLC NEW - 83 SHS 3,450 3,736
    ABBOTT LABORATORIES - 70 SHS 3,121 3,936
    ALLERGAN INC - 25 SHS 2,154 2,194
    AMAZON COM INC - 42 SHS 5,692 7,270
    ANADARKO PETROLEUM CORP - 51 SHS 3,714 3,893
    APPLE INC. - 51 SHS 9,224 20,655
    AUTOZONE INC - 8 SHS 2,299 2,600
    BAKER HUGHES INC - 35 SHS 2,001 1,702
    CVS CAREMARK CORP - 60 SHS 1,590 2,447
    CAMPBELL SOUP COMPANY - 85 SHS 3,042 2,825
    CAPITAL ONE FINANCIAL CORP - 67 SHS 3,047 2,833
    CARDINAL HEALTH INC - 110 SHS 3,520 4,467
    CELGENE CORPORATION - 65 SHS 3,125 4,394
    CISCO SYSTEMS INC - 363 SHS 6,514 6,563
    CITRIX SYSTEMS INC - 25 SHS 1,443 1,518
    COCA-COLA CO - 50 SHS 3,419 3,499
    COLGATE PALMOLIVE CO - 33 SHS 2,600 3,049
    DARDEN RESTAURANTS INC - 35 SHS 1,486 1,595
    DELAWARE EMERGING MARKETS FUND - 11550.155 SHS 180,949 144,030
    E I DU PONT DE NEMOURS & CO - 162 SHS 6,052 7,416
    E M C CORP MASS - 125 SHS 2,562 2,693
    EMERSON ELECTRIC CO - 64 SHS 3,454 2,982
    FREEPORT-MCMORAN COPPER & GOLD INC CL B - 65 SHS 1,638 2,391
    GENERAL ELECTRIC CO - 190 SHS 3,090 3,403
    GENERAL MILLS INC - 90 SHS 2,803 3,637
    HOME DEPOT INC - 50 SHS 1,689 2,102
    HUMANA INC - 60 SHS 4,666 5,257
    JOHNSON & JOHNSON - 100 SHS 6,300 6,558
    JOHNSON CONTROLS INC - 240 SHS 5,643 7,502
    LAM RESEARCH CORP - 25 SHS 1,097 926
    THE ESTEE LAUDER COMPANIES INC CL A - 20 SHS 2,027 2,246
    LENNAR CORP - 105 SHS 1,587 2,063
    LOWES COMPANIES INC - 259 SHS 5,614 6,573
    MICROS SYSTEMS INC - 21 SHS 1,054 978
    MICROSOFT CORP - 527 SHS 11,855 13,681
    NIKE INC B - 45 SHS 3,100 4,337
    NORFOLK SOUTHERN CORP - 125 SHS 6,170 9,108
    OCCIDENTAL PETROLEUM CORP - 104 SHS 7,379 9,745
    ORACLE CORP - 210 SHS 4,822 5,387
    PACCAR INC - 115 SHS 3,673 4,309
    PFIZER INC - 399 SHS 5,372 8,634
    PIONEER NATURAL RESOURCES CO - 15 SHS 1,116 1,342
    PROCTER & GAMBLE CO - 120 SHS 6,430 8,005
    QUALCOMM INC - 112 SHS 4,728 6,126
    SPDR S&P 500 ETF TRUST - 764 SHS 87,904 95,882
    SCHLUMBERGER LTD - 111 SHS 9,233 7,582
    SOUTHWESTERN ENERGY CO - 30 SHS 1,184 958
    UNITED TECHNOLOGIES CORP - 118 SHS 8,761 8,625
    VERTEX PHARMACEUTICALS INC - 50 SHS 1,568 1,661
    WILLIAMS COMPANIES INC - 130 SHS 3,917 4,293
    XILINX CORP - 115 SHS 3,437 3,687
    COGNIZANT TECHNOLOGY SOLUTIONS CORP CL A - 68 SHS 3,521 4,373
    WELLS FARGO & CO - 360 SHS 7,211 9,922
    BANK OF AMERICA CORP - 380 SHS 4,420 2,113
    GOLDMAN SACHS GROUP INC - 45 SHS 3,683 4,069
    BLACKROCK U.S. OPPS PORTFOLIO - 3487.645 SHS 111,500 116,801
    DEVON ENERGY CORP - 22 SHS 1,422 1,364
    EOG RESOURCES INC - 21 SHS 1,447 2,069
    HONEYWELL INTL INC - 83 SHS 3,513 4,511
    DOMINION RESOURCES INC VA - 45 SHS 2,268 2,389
    TARGET CORP - 60 SHS 2,838 3,073
    UNITEDHEALTH GROUP INC - 75 SHS 3,142 3,801
    VERIZON COMMUNICATIONS INC - 145 SHS 4,473 5,817
    GLOBAL PAYMENTS INC - 35 SHS 1,709 1,658
    US BANCORP DEL - 105 SHS 1,652 2,840
    DODGE & COX INTL STOCK - 5962.109 SHS 215,000 174,332
    ISHARES RUSSELL MIDCAP INDEX FD - 1025 SHS 85,620 100,881
    ISHARES MSCI EAFE INDEX FUND - 1015 SHS 63,357 50,273
    YUM BRANDS INC - 125 SHS 4,336 7,376
    ARTISAN INTL VALUE FUND - INV - 2082.902 SHS 47,844 52,260
    CENTERPOINT ENERGY INC - 231 SHS 3,940 4,641
    COMCAST CORP CL A - 135 SHS 2,491 3,201
    CARNIVAL CORPORATION - 94 SHS 3,190 3,068
    JPM LARGE CAP GROWTH FD - SEL 6565.374 SHS 142,000 140,893
    JPM US REAL ESTATE FD - SEL- 6763.007 SHS 75,499 109,493
    JPM INTREPID AMERICA FD - SEL- 2136.796 SHS 36,319 48,527
    JPM TAX AWARE EQU - INSTL - 2976.19 SHS 50,000 51,012
    JPM INTL VALUE FD - SEL - 14514.693 SHS 163,000 162,710
    ARTIO INTL EQU II - I - 4694.921 SHS 38,803 44,837
    MANAGERS AMG FUNDS-TIMESSQUARE MID CAP GROWTH FD - 7524.524 SHS 90,132 99,399
    AT&T INC - 155 SHS 5,543 4,687
    CBS CORP CLASS B W/I - 164 SHS 4,437 4,451
    EDGEWOOD GROWTH FUND - 15203.553 SHS 189,790 177,578
    CAMERON INTL CORPORATION - 30 SHS 1,602 1,476
    POWERSHARES DB COMMODITY INDEX TRACKING FUND - 5320 SHS 129,191 142,789
    HARTFORD CAPITAL APPRECIATION FUND - 4994.512 SHS 182,000 143,892
    MANNING & NAPIER FUND INC EQU SERIES - 6046.081 SHS 102,000 105,141
    EATON VANCE MUT FDS TR GLOBAL MACRO - I - 8550.623 SHS 88,293 83,967
    INVESCO LTD - 150 SHS 2,909 3,014
    NETAPP INC - 30 SHS 1,069 1,088
    SPDR GOLD TRUST - 393 SHS 52,847 59,732
    ACE LTD NEW - 55 SHS 2,825 3,857
    ISHARES MSCI ALL COUNTRY ASIA EX JAPAN INDEX FD - 880 SHS 50,518 43,912
    BARC REN SPX 05/02/12 - 80000 SHS 79,200 77,168
    DB REN SPX 05/16/12 - 85000 SHS 84,150 79,722
    CITIGROUP INC NEW - 142 SHS 5,143 3,736
    GS BREN EAFE 06/06/12 - 55000 SHS 54,450 47,570
    HSBC CONT BUFF EQ SPX 06/27/12 80000 SHS 79,200 78,768
    MS GSCI BRENT CRUDE CPN NOTE 6/25/12- 30000 SHS 29,700 28,634
    GS BREN EAFE 07/05/12 - 55000 SHS 54,450 48,036
    MS CONT BUFF EQ SPX 8/15/12 - 85000 SHS 84,150 82,437
    BROADCOM CORP CL A - 40 SHS 1,329 1,174
    JUNIPER NETWORKS INC - 195 SHS 3,938 3,980
    EXXON MOBIL CORP - 122 SHS 6,829 10,341
    METLIFE INC - 160 SHS 5,708 4,989
    MONSANTO CO - 27 SHS 1,885 1,892
    KRAFT FOODS INC CLASS A - 152 SHS 5,246 5,679
    PRUDENTIAL FINANCIAL INC - 72 SHS 2,131 3,609
    CONOCOPHILLIPS - 86 SHS 4,035 6,267
    BIOGEN IDEC INC - 45 SHS 2,444 4,952
    BAIDU INC SPONS ADR - 15 SHS 1,383 1,747
    INTERCONTINENTAL EXCHANGE INC - 10 SHS 1,116 1,206
    TD AMERITRADE HOLDING CORP - 102 SHS 1,621 1,596
    MASTERCARD INC - CLASS A - 7 SHS 1,280 2,610
    GENERAL MOTORS CO - 120 SHS 4,063 2,432
    GS BREN EEM 11/05/12 - 50000 SHS 49,500 50,278

    TY 2011 InvestmentsGovtObligationsSch
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    US Government Securities - End of Year Book Value:

    527,212
    US Government Securities - End of Year Fair Market Value:

    569,175
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2011 OtherAssetsSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SUNDRY 2 2  


    TY 2011 OtherDecreasesSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    Description Amount
    ADJUSTMENT ACCRUED INTEREST PAID ON PURCHASE 29


    TY 2011 OtherExpensesSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    NEW YORK ATTORNEY GENERAL FILING FEE 250 0   250
    POWERSHARES DB SCH K-1: INVESTMENT EXPENSES 0 1,538   0


    TY 2011 OtherIncomeSchedule2
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ORIGINAL ISSUE DISCOUNT INCOME 408 408 408


    TY 2011 OtherIncreasesSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    Description Amount
    BASIS ADJUSTMENT: POWERSHARES DB COMMODITY TRACKING INDEX FD SOLD SHARES 12,913
    ADJUSTMENT: RETURN OF CAPITAL 164
    MUTUAL FUND TIMING/FACTORING ADJUSTMENT 83


    TY 2011 TaxesSchedule
    Name:
    THE CHARLES MITCHELL SCHOLARSHIP TRUST R52526002
    EIN: 13-7105970
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ESTIMATED EXCISE TAX - CURRENT YEAR 2,926 0   0
    EXCISE TAX PAID - PRIOR YEAR 4,200 0   0
    FOREIGN TAX WITHHELD 1,291 1,291   0