TY 2011 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

OMB No. 1545-0052

2011

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

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

Amended returnAddress changeName change

Name of foundation
EDELSTEIN FAMILY FOUNDATION 050013733200

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 64713 TRUST TAX SERVICES Room/suite

City or town, state, and ZIP code
ST PAUL, MN551640713

A Employer identification number

41-6013675

B Telephone number (see page 10 of the instructions)

(612) 303-3208

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

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

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

$34,083,908J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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

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

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	1,003,858		1,003,858
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		1,020,437
b	Gross sales price for all assets on line 6a 33,331,927
7	Capital gain net income (from Part IV, line 2)...			1,020,437
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).......		1,820	37,818
12	Total. Add lines 1 through 11........	2,026,115		2,062,113
13	Compensation of officers, directors, trustees, etc.	356,534		191,521		165,013
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see page 14 of the instructions)		84,909	32,007		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........	290		0	0	290
23	Other expenses (attach schedule).......		470	83		387
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	442,203		223,611	0	165,690
25	Contributions, gifts, grants paid........	1,649,169				1,649,169
26	Total expenses and disbursements. Add lines 24 and 25	2,091,372		223,611	0	1,814,859
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-65,257
b	Net investment income (if negative, enter -0-)			1,838,502
c	Adjusted net income (if negative, enter -0-)...				0

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

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

Form 990-PF (2011)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	2,703,608	1,524,310	1,524,310
	3	Accounts receivable 95,017
		Less: allowance for doubtful accounts	10,299	95,017	95,017
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see page 15 of the
		instructions)....................
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	1,428,962	1,428,962	1,612,490
	b	Investments—corporate stock (attach schedule)........	19,467,196	19,126,599	22,001,455
	c	Investments—corporate bonds (attach schedule)........	7,192,294	8,563,202	8,841,001
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	10,623	9,635	9,635
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	30,812,982	30,747,725	34,083,908
	17	Accounts payable and accrued expenses..........
	18	Grants payable...................
	19	Deferred revenue..................		321
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........		321
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	30,812,982	30,747,404
	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)....................	30,812,982	30,747,404
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	30,812,982	30,747,725

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	30,812,982
2	Enter amount from Part I, line 27a.....................	2	-65,257
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	30,747,725
5	Decreases not included in line 2 (itemize)	5	0
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	30,747,725

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	465. COMMSCOPE INC		1911-11-11	2011-01-14
b	78. COMMSCOPE INC		2010-02-01	2011-01-14
c	2450. COMMSCOPE INC		1911-11-11	2011-01-14
d	100000. TARGET CORP 6.350% 1/15/11		1911-11-11	2011-01-15
e	.813 DIANA CONTAINERSHIPS INC		2011-01-18	2011-02-14
	1500. ISHARES IBOXX INVESTMENT GRADE CORP		1911-11-11	2011-03-14
	4000. ISHARES IBOXX INVESTMENT GRADE CORP		1911-11-11	2011-03-14
	210.83 ARTIO GLOBAL HIGH INCOME I		2010-06-30	2011-03-15
	540.399 ARTIO GLOBAL HIGH INCOME I		2010-05-28	2011-03-15
	92474.521 ARTIO GLOBAL HIGH INCOME I		2011-02-28	2011-03-15
	1346.159 ARTIO GLOBAL HIGH INCOME I		2011-02-28	2011-03-15
	14078.451 ARTIO GLOBAL HIGH INCOME I		1911-11-11	2011-03-15
	3677.038 PIMCO TOTAL RETURN FUND INST		2011-02-28	2011-03-15
	48429.189 PIMCO TOTAL RETURN FUND INST		2010-12-31	2011-03-15
	3100. I SHARES MSCI AUSTRALIA E T F		1911-11-11	2011-03-18
	15000. I SHARES MSCI AUSTRALIA E T F		1911-11-11	2011-03-18
	2800. I SHARES MSCI CANANDA E T F		1911-11-11	2011-03-18
	13800. I SHARES MSCI CANANDA E T F		1911-11-11	2011-03-18
	130. AKAMAI TECHNOLOGIES INC		1911-11-11	2011-04-20
	734. AKAMAI TECHNOLOGIES INC		1911-11-11	2011-04-20
	125. ALPHA NATURAL RESOURCES INC		1911-11-11	2011-04-20
	625. ALPHA NATURAL RESOURCES INC		1911-11-11	2011-04-20
	75. AMAZON COM INC		1911-11-11	2011-04-20
	425. AMAZON COM INC		1911-11-11	2011-04-20
	421. AMERICAN EXPRESS CO		1911-11-11	2011-04-20
	1992. AMERICAN EXPRESS CO		1911-11-11	2011-04-20
	456. APACHE CORP		1911-11-11	2011-04-20
	200. APOLLO GROUP INC CL A		1911-11-11	2011-04-20
	975. APOLLO GROUP INC CL A		1911-11-11	2011-04-20
	750. AVON PRODS INC		1911-11-11	2011-04-20
	2581. AVON PRODS INC		1911-11-11	2011-04-20
	113. BAKER HUGHES INC		1911-11-11	2011-04-20
	465. BAKER HUGHES INC		1911-11-11	2011-04-20
	300. BAXTER INTL INC		1911-11-11	2011-04-20
	1450. BAXTER INTL INC		1911-11-11	2011-04-20
	825. BROCADE COMMUNICATIONS SYS		1911-11-11	2011-04-20
	4050. BROCADE COMMUNICATIONS SYS		1911-11-11	2011-04-20
	400. CIGNA CORP		1911-11-11	2011-04-20
	1900. CIGNA CORP		1911-11-11	2011-04-20
	97. CABOT OIL GAS CORP CL A		1911-11-11	2011-04-20
	325. CELANESE CORP SER A		1911-11-11	2011-04-20
	1550. CELANESE CORP SER A		1911-11-11	2011-04-20
	472. CHEVRON CORPORATION		1911-11-11	2011-04-20
	1000. CISCO SYS INC		1911-11-11	2011-04-20
	4825. CISCO SYS INC		1911-11-11	2011-04-20
	95. CITY NATL CORP		1911-11-11	2011-04-20
	206. DISCOVER FINL SVCS		1911-11-11	2011-04-20
	2799. DISCOVER FINL SVCS		1911-11-11	2011-04-20
	210. DISH NETWORK CORP CL A		1911-11-11	2011-04-20
	1093. DISH NETWORK CORP CL A		1911-11-11	2011-04-20
	200. E O G RES INC		1911-11-11	2011-04-20
	161. E BAY INC		1911-11-11	2011-04-20
	1059. E BAY INC		1911-11-11	2011-04-20
	100. EXXON MOBIL CORP		1911-11-11	2011-04-20
	3425. EXXON MOBIL CORP		1911-11-11	2011-04-20
	3600. FIFTH THIRD BANCORP		1911-11-11	2011-04-20
	750. FIFTH THIRD BANCORP		1911-11-11	2011-04-20
	200. FRANKLIN RES INC		1911-11-11	2011-04-20
	744. FRANKLIN RES INC		1911-11-11	2011-04-20
	2100. GANNETT INC		1911-11-11	2011-04-20
	175. GENERAL DYNAMICS CORP		1911-11-11	2011-04-20
	625. GILEAD SCIENCES INC		1911-11-11	2011-04-20
	3125. GILEAD SCIENCES INC		1911-11-11	2011-04-20
	209. GOLDMAN SACHS GROUP INC		1911-11-11	2011-04-20
	998. GOLDMAN SACHS GROUP INC		1911-11-11	2011-04-20
	48. GOOGLE INC CL A		1911-11-11	2011-04-20
	106. GREENHILL CO INC		1911-11-11	2011-04-20
	450. HANESBRANDS INC		1911-11-11	2011-04-20
	2175. HANESBRANDS INC		1911-11-11	2011-04-20
	2000. HELIX ENERGY SOLUTIONS GROUP INC		1911-11-11	2011-04-20
	950. HEWLETT PACKARD CO		1911-11-11	2011-04-20
	4575. HEWLETT PACKARD CO		1911-11-11	2011-04-20
	220. ILLINOIS TOOL WORKS		2010-01-08	2011-04-20
	580. INTERNATIONAL BUSINESS MACHINES CORP		1911-11-11	2011-04-20
	375. INTERNATIONAL PAPER CO		1911-11-11	2011-04-20
	1850. INTERNATIONAL PAPER CO		1911-11-11	2011-04-20
	2292. J P MORGAN CHASE CO		1911-11-11	2011-04-20
	82. JOY GLOBAL INC		1911-11-11	2011-04-20
	257. KAYDON CORP		1911-11-11	2011-04-20
	800. KAYDON CORP		1911-11-11	2011-04-20
	250. LAM RESEARCH CORP		1911-11-11	2011-04-20
	1175. LAM RESEARCH CORP		1911-11-11	2011-04-20
	257. LEGG MASON INC		1911-11-11	2011-04-20
	1500. LEGG MASON INC		1911-11-11	2011-04-20
	490. LIZ CLAIBORNE INC		1911-11-11	2011-04-20
	51. LORILLARD INC		1911-11-11	2011-04-20
	322. LORILLARD INC		1911-11-11	2011-04-20
	1275. LOWES CO INC		1911-11-11	2011-04-20
	6125. LOWES CO INC		1911-11-11	2011-04-20
	625. MASCO CORP		1911-11-11	2011-04-20
	3075. MASCO CORP		1911-11-11	2011-04-20
	300. MASTERCARD INC		1911-11-11	2011-04-20
	22. MASTERCARD INC		1911-11-11	2011-04-20
	290. MATERION CORP		1911-11-11	2011-04-20
	1225. MEAD JOHNSON NUTRITION CO		1911-11-11	2011-04-20
	250. MEAD JOHNSON NUTRITION CO		1911-11-11	2011-04-20
	1678. MERCK AND CO INC NEW		1911-11-11	2011-04-20
	451. MERCK AND CO INC NEW		1911-11-11	2011-04-20
	1500. MERITAGE HOMES CORPORATION		1911-11-11	2011-04-20
	1000. MONSTER WORLDWIDE INC		1911-11-11	2011-04-20
	429. MONSTER WORLDWIDE INC		1911-11-11	2011-04-20
	672. NEWS CORP INC CL A		1911-11-11	2011-04-20
	1075. NORDSTROM INC		1911-11-11	2011-04-20
	225. NORDSTROM INC		1911-11-11	2011-04-20
	2060. NOVELLUS SYSTEMS INC		1911-11-11	2011-04-20
	75696.297 NUVEEN HIGH INCOME BOND FD CL I		2011-03-15	2011-04-20
	20833.333 NUVEEN HIGH INCOME BOND FD CL I		2011-03-15	2011-04-20
	18231.424 NUVEEN INFLATION PRO SEC CL I		2011-03-15	2011-04-20
	1000. O M GROUP INC		1911-11-11	2011-04-20
	204. O M GROUP INC		1911-11-11	2011-04-20
	169. OCCIDENTAL PETROLEUM CORPORATION		1911-11-11	2011-04-20
	712. OCCIDENTAL PETROLEUM CORPORATION		1911-11-11	2011-04-20
	600. OVERSEAS SHIPHOLDING GROUP INC		1911-11-11	2011-04-20
	450. OWENS ILL INC		1911-11-11	2011-04-20
	2200. OWENS ILL INC		1911-11-11	2011-04-20
	867. PACKAGING CORP AMERICA		1911-11-11	2011-04-20
	266. PARKER HANNIFIN CORP		1911-11-11	2011-04-20
	150. PEABODY ENERGY CORP		1911-11-11	2011-04-20
	686. PHILIP MORRIS INTL		1911-11-11	2011-04-20
	3952. PHILIP MORRIS INTL		1911-11-11	2011-04-20
	229. PLANTRONICS INC		1911-11-11	2011-04-20
	141. T ROWE PRICE GROUP INC		1911-11-11	2011-04-20
	212. PROCTER & GAMBLE CO		1911-11-11	2011-04-20
	2966. PROCTER & GAMBLE CO		1911-11-11	2011-04-20
	350. RAYMOND JAMES FINL INC		1911-11-11	2011-04-20
	774. RAYMOND JAMES FINL INC		1911-11-11	2011-04-20
	300. RIO TINTO PLC A D R		1911-11-11	2011-04-20
	1600. RIO TINTO PLC A D R		1911-11-11	2011-04-20
	71. ROSS STORES INC		1911-11-11	2011-04-20
	1600. RYLAND GROUP INC		1911-11-11	2011-04-20
	453. RYLAND GROUP INC		1911-11-11	2011-04-20
	858. SM ENERGY CO		1911-11-11	2011-04-20
	83. SM ENERGY CO		1911-11-11	2011-04-20
	323. SIMPSON MFG CO INC		1911-11-11	2011-04-20
	1835. SOTHEBYS HLDGS INC CL A		1911-11-11	2011-04-20
	103. SOTHEBYS HLDGS INC CL A		1911-11-11	2011-04-20
	825. SOUTHWESTERN ENERGY CO		1911-11-11	2011-04-20
	175. SOUTHWESTERN ENERGY CO		1911-11-11	2011-04-20
	7350. SPRINT NEXTEL CORP		1911-11-11	2011-04-20
	2166. STARBUCKS CORP		1911-11-11	2011-04-20
	323. STARBUCKS CORP		1911-11-11	2011-04-20
	1600. STATE STR CORP		1911-11-11	2011-04-20
	325. STATE STR CORP		1911-11-11	2011-04-20
	3250. STEEL DYNAMICS INC		1911-11-11	2011-04-20
	675. STEEL DYNAMICS INC		1911-11-11	2011-04-20
	2076. TARGET CORPORATION		1911-11-11	2011-04-20
	550. TARGET CORPORATION		1911-11-11	2011-04-20
	1550. TERADATA CORP DEL		1911-11-11	2011-04-20
	226. TERADATA CORP DEL		1911-11-11	2011-04-20
	1600. TETRA TECHNOLOGIES INC DEL		1911-11-11	2011-04-20
	800. THOR INDUSTRIES INC		1911-11-11	2011-04-20
	231. THOR INDUSTRIES INC		1911-11-11	2011-04-20
	792. UNITED PARCEL SERVICE INC CL B		1911-11-11	2011-04-20
	228. UNUM GROUP		1911-11-11	2011-04-20
	1149. UNUM GROUP		1911-11-11	2011-04-20
	225. URBAN OUTFITTERS INC		1911-11-11	2011-04-20
	1050. URBAN OUTFITTERS INC		1911-11-11	2011-04-20
	1617. VERIZON COMMUNICATIONS INC		1911-11-11	2011-04-20
	600. WESTERN UNION CO		1911-11-11	2011-04-20
	2925. WESTERN UNION CO		1911-11-11	2011-04-20
	1000. WINTRUST FINL CORP		1911-11-11	2011-04-20
	331. WRIGHT MEDICAL GROUP		1911-11-11	2011-04-20
	77. COOPER INDUSTRIES PLC		1911-11-11	2011-04-20
	545. COOPER INDUSTRIES PLC		1911-11-11	2011-04-20
	478. XL GROUP PLC		1911-11-11	2011-04-20
	2319. XL GROUP PLC		1911-11-11	2011-04-20
	350. NOBLE CORP		1911-11-11	2011-04-20
	1650. NOBLE CORP		1911-11-11	2011-04-20
	136. TYCO INTERNATIONAL LTD		1911-11-11	2011-04-20
	1435. TYCO INTERNATIONAL LTD		1911-11-11	2011-04-20
	1500. DIANA SHIPPING INC		1911-11-11	2011-04-20
	48. DIANA CONTAINERSHIPS INC		2011-01-18	2011-04-20
	200. MONSTER WORLDWIDE INC		2010-02-04	2011-04-21
	68. BAKER HUGHES INC		1911-11-11	2011-04-26
	1525. SPRINT NEXTEL CORP		1911-11-11	2011-04-26
	256. WINTRUST FINL CORP		1911-11-11	2011-04-26
	296. CHEVRON CORPORATION		1911-11-11	2011-04-28
	800. GREENHILL CO INC		1911-11-11	2011-04-28
	24346.598 NUVEEN INFLATION PRO SEC CL I		2011-03-15	2011-04-28
	386.628 PIMCO TOTAL RETURN FUND INST		2011-03-31	2011-04-28
	646. PROCTER & GAMBLE CO		1911-11-11	2011-04-28
	343. ROSS STORES INC		1911-11-11	2011-04-28
	433. AGCO CORP		2011-04-28	2011-05-16
	1454. ARM HLDGS PLC A D R		2011-04-20	2011-05-16
	325. CSX CORP		2011-04-28	2011-05-16
	463. CAMERON INTL CORP		2011-04-20	2011-05-16
	314. CONOCOPHILLIPS		2011-04-28	2011-05-16
	631. FED EX CORP		2011-04-20	2011-05-16
	239. F5 NETWORKS INC		1911-11-11	2011-05-16
	472. HARRIS CORP DEL		2011-04-28	2011-05-16
	686. MANHATTAN ASSOCS INC		1911-11-11	2011-05-16
	1452. NEWS CORP INC CL A		1911-11-11	2011-05-16
	449. NORDSON CORP		2011-04-28	2011-05-16
	312.603 PIMCO TOTAL RETURN FUND INST		2011-04-29	2011-05-16
	1000. POWER INTEGRATIONS INC		1911-11-11	2011-05-16
	668. T ROWE PRICE GROUP INC		1911-11-11	2011-05-16
	860. VERIZON COMMUNICATIONS INC		1911-11-11	2011-05-16
	1056. XL GROUP PLC		1911-11-11	2011-05-16
	1. FRONTIER COMMUNICATIONS CORP		1911-11-11	2011-05-19
	. FRONTIER COMMUNICATIONS CORP		1911-11-11	2011-05-19
	.9 CITIGROUP INC		2011-04-20	2011-05-25
	196. COMPANHIA DE BEBIDAS P R A D R			2011-06-15
	3611. COMPANHIA DE BEBIDAS P R A D R			2011-06-15
	2501. AFLAC INC		2011-04-20	2011-06-23
	570. AGCO CORP		2011-04-28	2011-06-23
	4343. ADTRAN INC		2011-04-20	2011-06-23
	465. AMERIPRISE FINL INC		2011-04-28	2011-06-23
	555. AUTODESK INC		2011-04-28	2011-06-23
	891. BROADCOM CORP CL A		2011-04-20	2011-06-23
	1800. BROCADE COMMUNICATIONS SYS		2010-02-02	2011-06-23
	223. CATERPILLAR INC		2011-04-28	2011-06-23
	1389. CITRIX SYS INC		2011-04-20	2011-06-23
	396. CONOCOPHILLIPS		2011-04-28	2011-06-23
	7162. CORNING INC		2011-04-20	2011-06-23
	584. CUMMINS INC		2011-04-28	2011-06-23
	1740. DISNEY WALT CO		2011-04-28	2011-06-23
	432. DONALDSON CO INC		2011-04-20	2011-06-23
	268. FED EX CORP		2011-04-20	2011-06-23
	1400. GANNETT INC		2010-02-09	2011-06-23
	1168. HITTITE MICROWAVE CORP		2011-04-20	2011-06-23
	2980. KEYCORP NEW		2011-04-20	2011-06-23
	2080. LINCOLN NATL CORP IND		2011-04-28	2011-06-23
	1691. METLIFE INC		2011-04-28	2011-06-23
	939. NETSCOUT SYS INC		2011-04-28	2011-06-23
	78588.923 NUVEEN SMALL CAP SELECT FD CL I		2011-04-28	2011-06-23
	441. THE SCOTTS MIRACLE GRO COMPANY		2011-04-20	2011-06-23
	353. VISA INC CLASS A SHARES		2011-04-20	2011-06-23
	1931. ABBOTT LABORATORIES		1911-11-11	2011-06-28
	800. CELANESE CORP SER A		2010-02-10	2011-06-28
	587. CLOROX CO		1911-11-11	2011-06-28
	50. GOOGLE INC CL A		2010-02-01	2011-06-28
	772. J P MORGAN CHASE CO		1911-11-11	2011-06-28
	1350. MOLINA HEALTHCARE INC		1911-11-11	2011-06-28
	23709.644 NEUBERGER BERMAN GENESIS INSTL FD		2011-06-23	2011-06-28
	313.009 PIMCO TOTAL RETURN FUND INST		2011-05-31	2011-06-28
	432. P N C FINANCIAL SERVICES GROUP INC		1911-11-11	2011-06-28
	280. SCHLUMBERGER LTD		2011-04-28	2011-06-28
	421. UNITED PARCEL SERVICE INC CL B		1911-11-11	2011-06-28
	1035. VERIZON COMMUNICATIONS INC		1911-11-11	2011-06-28
	2000. ZIONS BANCORPORATION		1911-11-11	2011-06-28
	302. BECKMAN COULTER INC		2011-04-20	2011-06-30
	8772. I SHARES MSCI EAFE INDEX FUND E T F		2011-06-01	2011-07-05
	22716.947 LAZARD EMERGING MKTS PORT IN		2010-05-03	2011-07-05
	24594. I SHARES MSCI EAFE INDEX FUND E T F		2011-06-28	2011-08-16
	38000. I SHARES MSCI EAFE INDEX FUND E T F		1911-11-11	2011-08-16
	1671.068 LAZARD EMERGING MKTS PORT IN		2010-12-29	2011-08-17
	29035.176 LAZARD EMERGING MKTS PORT IN		2010-08-10	2011-08-17
	20000. POWERSHARES DB COMMODITY IND ETF		1911-11-11	2011-08-26
	7700. I SHARES MSCI EAFE INDEX FUND E T F		1911-11-11	2011-09-01
	5361. I SHARES MSCI EAFE INDEX FUND E T F		2011-06-01	2011-09-01
	334.213 LAZARD EMERGING MKTS PORT IN		2010-12-29	2011-09-01
	13612.083 LAZARD EMERGING MKTS PORT IN		2010-08-10	2011-09-01
	5000. POWERSHARES DB COMMODITY IND ETF		1911-11-11	2011-09-01
	2431. ABB LTD A D R		2011-04-28	2011-09-21
	571. AGILENT TECHNOLOGIES INC		2011-04-20	2011-09-21
	1266. AKAMAI TECHNOLOGIES INC		1911-11-11	2011-09-21
	1044. AVON PRODS INC		1911-11-11	2011-09-21
	275. B A S F A G A D R		2011-06-28	2011-09-21
	414. BARD C R INC		2011-04-20	2011-09-21
	1000. CABOT MICROELECTRONICS CORPORATION		1911-11-11	2011-09-21
	2265. CITIGROUP INC		2011-05-16	2011-09-21
	1819. COGNIZANT TECH SOLUTIONS CL A		2011-04-20	2011-09-21
	463. COHERENT INC		2011-04-20	2011-09-21
	2548. COMCAST CORP CL A		2011-05-16	2011-09-21
	441. COVANCE INC		2011-06-28	2011-09-21
	8811. ERICSSON (LM)TEL SP A D R		2011-04-20	2011-09-21
	2500. FAIR ISAAC CORPORATION		1911-11-11	2011-09-21
	1125. GENERAL DYNAMICS CORP		2010-02-09	2011-09-21
	533. GOLDMAN SACHS GROUP INC		1911-11-11	2011-09-21
	46. GOOGLE INC CL A		1911-11-11	2011-09-21
	720. HARRIS CORP DEL		2011-06-28	2011-09-21
	1351. HESS CORP		2011-04-20	2011-09-21
	89. HESS CORP		2011-05-16	2011-09-21
	2400. ILLINOIS TOOL WORKS		2010-01-21	2011-09-21
	1378. INFORMATICA CORP		2011-04-20	2011-09-21
	1227. INTEGRYS ENERGY GROUP INC		2011-04-20	2011-09-21
	750. INTERDIGITAL INC		1911-11-11	2011-09-21
	944. INTERNATIONAL RECTIFIER CORP		2011-06-28	2011-09-21
	1592. J P MORGAN CHASE CO		1911-11-11	2011-09-21
	1914. JOHNSON JOHNSON		2011-04-20	2011-09-21
	475. LIFE TECHNOLOGIES CORP		2011-06-28	2011-09-21
	925. LOWES CO INC		2010-02-04	2011-09-21
	2392. NESTLE SA SPONSORED A D R		2011-04-20	2011-09-21
	939. NETEASE INC A D R		2011-04-20	2011-09-21
	5223. NEWS CORP INC CL A		1911-11-11	2011-09-21
	1532. T ROWE PRICE GROUP INC		1911-11-11	2011-09-21
	622. PROCTER & GAMBLE CO		1911-11-11	2011-09-21
	1196. PROGRESSIVE CORP		2011-04-20	2011-09-21
	862. QUALCOMM INC		1911-11-11	2011-09-21
	926. RAYMOND JAMES FINL INC		1911-11-11	2011-09-21
	419. REINSURANCE GROUP AMERICA		2011-04-20	2011-09-21
	1343. SEMPRA ENERGY		2011-04-20	2011-09-21
	1000. SHAW GROUP INC		1911-11-11	2011-09-21
	2284. TEXAS INSTRUMENTS INC		1911-11-11	2011-09-21
	578. URS CORPORATION		2011-06-28	2011-09-21
	1613. UNILEVER N V A D R		2011-05-16	2011-09-21
	884. UNITED PARCEL SERVICE INC CL B		1911-11-11	2011-09-21
	1181. VARIAN MED SYS INC		2011-04-20	2011-09-21
	2757. VIACOM INC CLASS B		2010-02-10	2011-09-21
	821. WAL MART STORES INC		1911-11-11	2011-09-21
	880. COOPER INDUSTRIES PLC		1911-11-11	2011-09-21
	88805.63 LAZARD EMERGING MKTS PORT IN		2010-05-03	2011-09-22
	500.93 LAZARD EMERGING MKTS PORT IN		2011-08-10	2011-09-22
	500000. BANKAMERICA CORP NT 7.125% 10/15/11		1996-10-24	2011-10-15
	14499.467 LAZARD EMERGING MKTS PORT IN		1911-11-11	2011-10-18
	119.229 LAZARD EMERGING MKTS PORT IN		2011-08-10	2011-10-18
	. NET SETTLEMENT FROM CLASS ACTION SUIT			2011-11-02
	13442.564 SCOUT INTERNATIONAL FUND		2011-09-01	2011-11-04
	248. VARIAN SEMICONDUCTOR EQUIP		1911-11-11	2011-11-10
	554. ABBOTT LABORATORIES		1911-11-11	2011-11-23
	270. AKAMAI TECHNOLOGIES INC		1911-11-11	2011-11-23
	375. BROCADE COMMUNICATIONS SYS		2010-02-02	2011-11-23
	238. CABOT MICROELECTRONICS CORPORATION		1911-11-11	2011-11-23
	153. CLOROX CO		1911-11-11	2011-11-23
	302. COGNIZANT TECH SOLUTIONS CL A		2011-04-20	2011-11-23
	1161. CORNING INC		2011-04-20	2011-11-23
	8090.343 CREDIT SUISSE COMM RET ST CO		2011-06-01	2011-11-23
	1848. ERICSSON (LM)TEL SP A D R		2011-04-20	2011-11-23
	74. EXXON MOBIL CORP		1911-11-11	2011-11-23
	54. FED EX CORP		2011-04-20	2011-11-23
	725. GANNETT INC		2010-02-09	2011-11-23
	50. GENERAL DYNAMICS CORP		2010-02-09	2011-11-23
	166. GOLDMAN SACHS GROUP INC		1911-11-11	2011-11-23
	16. GOOGLE INC CL A		1911-11-11	2011-11-23
	280. ILLINOIS TOOL WORKS		2010-01-21	2011-11-23
	179. INTERDIGITAL INC		1911-11-11	2011-11-23
	1544. J P MORGAN CHASE CO		1911-11-11	2011-11-23
	410. JOHNSON JOHNSON		2011-04-20	2011-11-23
	450. MYLAN INC		1911-11-11	2011-11-23
	74. O M GROUP INC		2010-02-11	2011-11-23
	182. P G E CORP		1911-11-11	2011-11-23
	142. P F CHANGS CHINA BISTRO INC		1911-11-11	2011-11-23
	9095.886 PIMCO TOTAL RETURN FUND INST		1911-11-11	2011-11-23
	218.775 PIMCO TOTAL RETURN FUND INST		2011-10-31	2011-11-23
	247. POWER INTEGRATIONS INC		1911-11-11	2011-11-23
	309. T ROWE PRICE GROUP INC		1911-11-11	2011-11-23
	320. PROCTER & GAMBLE CO		1911-11-11	2011-11-23
	204. QUALCOMM INC		1911-11-11	2011-11-23
	400. ST JUDE MED INC		2010-02-01	2011-11-23
	799. SEMPRA ENERGY		2011-04-20	2011-11-23
	217. SHAW GROUP INC		1911-11-11	2011-11-23
	95. UNITED PARCEL SERVICE INC CL B		1911-11-11	2011-11-23
	522. UNUM GROUP		1911-11-11	2011-11-23
	178. VERIZON COMMUNICATIONS INC		1911-11-11	2011-11-23
	137. WAL MART STORES INC		1911-11-11	2011-11-23
	442. ZIONS BANCORPORATION		1911-11-11	2011-11-23
	. NET SETTLEMENT FROM CLASS ACTION SUIT			2011-11-29
	. NET SETTLEMENT FROM CLASS ACTION SUIT			2011-11-29
	96056.737 SCOUT INTERNATIONAL FUND		2011-08-17	2011-12-05
	1210. ABBOTT LABORATORIES		1911-11-11	2011-12-07
	768. ADTRAN INC		2011-09-21	2011-12-07
	844. APACHE CORP		1911-11-11	2011-12-07
	783. BAKER HUGHES INC		1911-11-11	2011-12-07
	1338. CLOROX CO		1911-11-11	2011-12-07
	2404. ERICSSON (LM)TEL SP A D R		2011-04-20	2011-12-07
	1473. EXPRESS SCRIPTS INC		2011-04-20	2011-12-07
	270. F5 NETWORKS INC		1911-11-11	2011-12-07
	619. GENERAL MILLS INC		1911-11-11	2011-12-07
	41. GOOGLE INC CL A		1911-11-11	2011-12-07
	1250. INTERDIGITAL INC		1911-11-11	2011-12-07
	1737. JACOBS ENGR GROUP INC		2011-04-28	2011-12-07
	253. LORILLARD INC		1911-11-11	2011-12-07
	2175. MYLAN INC		1911-11-11	2011-12-07
	749. NATIONAL GRID PLC SP A D R		2011-04-20	2011-12-07
	1625. P G E CORP		1911-11-11	2011-12-07
	2866. P P L CORPORATION		2011-09-21	2011-12-07
	331. PHILIP MORRIS INTL		1911-11-11	2011-12-07
	391. PROCTER & GAMBLE CO		1911-11-11	2011-12-07
	972. QUALCOMM INC		1911-11-11	2011-12-07
	1900. ST JUDE MED INC		2010-02-01	2011-12-07
	510. SCRIPPS NETWORKS INTERACTIVE INC		2011-04-20	2011-12-07
	1948. SEMPRA ENERGY		2011-04-20	2011-12-07
	1132. UNUM GROUP		1911-11-11	2011-12-07
	158. AFLAC INC		2011-04-20	2011-12-13
	1236. ADTRAN INC		2011-09-21	2011-12-13
	169. BAKER HUGHES INC		1911-11-11	2011-12-13
	502. BAKER HUGHES INC		1911-11-11	2011-12-13
	50. FLOWSERVE CORP		1911-11-11	2011-12-13
	649. FREEPORT MCMORAN COPPER GOLD		2011-12-07	2011-12-13
	309. GARDNER DENVER INC		2011-05-16	2011-12-13
	882. INTEGRYS ENERGY GROUP INC		2011-04-20	2011-12-13
	206. INTERCONTINENTAL EXCHANGE INC		2011-04-28	2011-12-13
	15. MASTERCARD INC		2010-02-05	2011-12-13
	805. METLIFE INC		2011-12-07	2011-12-13
	1136. N I I HOLDINGS INC		2011-12-07	2011-12-13
	183. QUALCOMM INC		1911-11-11	2011-12-13
	741. QUALCOMM INC		1911-11-11	2011-12-13
	931. SKYWORKS SOLUTIONS INC		2011-04-20	2011-12-13
	725. AMERIPRISE FINL INC		2011-12-07	2011-12-16
	27589.434 CREDIT SUISSE COMM RET ST CO		2011-08-26	2011-12-16
	444. GENESEE & WYO INC CL A		2011-06-28	2011-12-16
	1029. HALLIBURTON CO		2011-12-07	2011-12-16
	2442. J P MORGAN CHASE CO		1911-11-11	2011-12-16
	348. OCCIDENTAL PETROLEUM CORPORATION		1911-11-11	2011-12-16
	433. T ROWE PRICE GROUP INC		2011-12-07	2011-12-16
	422. SIGNATURE BK		2011-12-07	2011-12-16
	18149.109 CREDIT SUISSE COMM RET ST CO		2011-09-01	2011-12-29
	79390.386 CREDIT SUISSE COMM RET ST CO		2011-08-26	2011-12-29
	17968.314 SCOUT INTERNATIONAL FUND		2011-09-01	2011-12-29
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	14,648	12,610	2,038
b	2,457	2,151	306
c	77,175	61,847	15,328
d	100,000	100,064	-64
e	10	11	-1
	163,034	150,285	12,749
	434,756	403,279	31,477
	2,195	2,104	91
	5,626	5,393	233
	962,660	933,250	29,410
	14,014	13,879	135
	146,557	140,539	6,018
	40,043	41,576	-1,533
	527,394	510,090	17,304
	75,329	70,339	4,990
	364,493	340,350	24,143
	90,550	71,344	19,206
	446,283	351,624	94,659
	5,164	3,352	1,812
	29,155	18,938	10,217
	6,999	4,659	2,340
	34,993	24,308	10,685
	13,800	10,321	3,479
	78,200	58,049	20,151
	19,816	16,321	3,495
	93,759	77,216	16,543
	56,575	41,745	14,830
	7,771	12,827	-5,056
	37,883	61,326	-23,443
	21,545	19,807	1,738
	74,143	68,305	5,838
	8,338	5,323	3,015
	34,312	21,903	12,409
	16,307	17,204	-897
	78,819	83,151	-4,332
	4,852	6,014	-1,162
	23,819	29,525	-5,706
	17,506	12,694	4,812
	83,155	60,010	23,145
	5,218	2,735	2,483
	15,469	6,429	9,040
	73,777	30,733	43,044
	50,820	25,352	25,468
	16,892	24,075	-7,183
	81,505	116,140	-34,635
	5,368	4,519	849
	5,117	2,465	2,652
	69,527	33,540	35,987
	4,920	3,780	1,140
	25,609	19,676	5,933
	22,244	17,943	4,301
	5,074	2,993	2,081
	33,374	19,703	13,671
	8,541	6,900	1,641
	292,524	236,264	56,260
	47,757	45,497	2,260
	9,949	9,479	470
	24,742	20,435	4,307
	92,041	76,042	15,999
	31,806	33,689	-1,883
	12,659	11,763	896
	25,309	25,125	184
	126,544	126,753	-209
	31,755	24,110	7,645
	151,633	112,881	38,752
	25,190	17,191	7,999
	6,439	7,063	-624
	14,072	10,951	3,121
	68,017	52,916	15,101
	32,523	24,373	8,150
	39,007	43,876	-4,869
	187,848	217,167	-29,319
	11,812	10,751	1,061
	95,551	56,614	38,937
	11,165	8,567	2,598
	55,082	42,277	12,805
	100,677	74,006	26,671
	7,907	3,679	4,228
	9,657	10,830	-1,173
	30,060	39,271	-9,211
	12,919	9,644	3,275
	60,719	45,326	15,393
	9,409	5,821	3,588
	54,914	30,980	23,934
	2,837	3,073	-236
	5,024	3,886	1,138
	31,720	24,536	7,184
	34,120	29,571	4,549
	163,910	142,059	21,851
	8,426	9,669	-1,243
	41,456	47,572	-6,116
	81,319	47,810	33,509
	5,963	2,513	3,450
	11,431	4,913	6,518
	75,172	55,298	19,874
	15,341	11,287	4,054
	56,981	64,119	-7,138
	15,315	17,233	-1,918
	38,815	23,580	15,235
	17,283	17,097	186
	7,414	7,186	228
	11,552	8,638	2,914
	50,372	40,799	9,573
	10,543	8,741	1,802
	72,124	41,315	30,809
	699,434	690,350	9,084
	192,500	190,000	2,500
	197,264	194,529	2,735
	32,704	20,842	11,862
	6,672	4,144	2,528
	17,010	11,340	5,670
	71,665	47,603	24,062
	17,034	29,376	-12,342
	13,560	13,816	-256
	66,293	67,496	-1,203
	24,276	12,763	11,513
	25,385	10,822	14,563
	9,738	6,528	3,210
	45,651	25,886	19,765
	262,993	148,960	114,033
	7,859	5,839	2,020
	9,368	7,164	2,204
	13,499	11,562	1,937
	188,864	170,766	18,098
	12,813	8,996	3,817
	28,335	19,894	8,441
	21,469	15,831	5,638
	114,503	84,240	30,263
	5,125	3,084	2,041
	28,332	34,764	-6,432
	8,021	13,901	-5,880
	63,521	27,054	36,467
	6,145	2,454	3,691
	8,909	8,521	388
	88,509	36,130	52,379
	4,968	1,540	3,428
	33,572	41,370	-7,798
	7,121	8,775	-1,654
	35,150	28,922	6,228
	79,849	46,029	33,820
	11,907	6,864	5,043
	73,451	86,945	-13,494
	14,920	17,661	-2,741
	59,679	56,168	3,511
	12,395	11,658	737
	104,106	87,711	16,395
	27,581	23,260	4,321
	80,827	44,060	36,767
	11,785	6,424	5,361
	22,588	25,265	-2,677
	24,656	21,320	3,336
	7,119	6,307	812
	57,428	44,158	13,270
	5,860	4,700	1,160
	29,533	23,665	5,868
	7,029	8,179	-1,150
	32,804	36,740	-3,936
	61,195	51,767	9,428
	12,777	11,309	1,468
	62,287	55,130	7,157
	34,234	28,204	6,030
	5,197	6,039	-842
	5,123	3,009	2,114
	36,258	21,294	14,964
	11,423	7,640	3,783
	55,419	37,065	18,354
	15,094	13,948	1,146
	71,156	65,722	5,434
	6,749	3,762	2,987
	71,208	39,790	31,418
	16,522	22,757	-6,235
	621	648	-27
	3,508	2,625	883
	4,976	3,203	1,773
	7,228	6,001	1,227
	8,696	6,958	1,738
	32,062	15,899	16,163
	47,018	33,870	13,148
	264,404	259,778	4,626
	4,261	4,207	54
	41,292	37,193	4,099
	25,155	14,880	10,275
	22,151	24,850	-2,699
	40,913	44,085	-3,172
	24,320	25,427	-1,107
	22,886	25,395	-2,509
	22,429	24,263	-1,834
	59,378	58,585	793
	25,061	5,674	19,387
	22,774	25,115	-2,341
	24,572	15,113	9,459
	24,961	18,665	6,296
	23,110	24,973	-1,863
	3,448	3,448
	37,659	30,629	7,030
	41,529	34,000	7,529
	31,828	27,532	4,296
	24,322	16,878	7,444
	372		372
	63		63
	36	41	-5
	2		2
	44		44
	111,658	132,552	-20,894
	25,849	32,885	-7,036
	164,814	175,152	-10,338
	25,691	28,681	-2,990
	19,963	25,147	-5,184
	28,405	35,079	-6,674
	11,727	12,051	-324
	21,762	24,985	-3,223
	104,822	105,171	-349
	28,420	33,541	-5,121
	124,978	145,663	-20,685
	55,134	65,292	-10,158
	64,918	73,720	-8,802
	24,354	25,445	-1,091
	24,649	24,882	-233
	18,620	19,845	-1,225
	67,776	73,769	-5,993
	24,057	25,031	-974
	55,199	66,414	-11,215
	68,755	77,333	-8,578
	18,861	24,384	-5,523
	1,157,615	1,205,522	-47,907
	22,139	25,159	-3,020
	26,163	27,371	-1,208
	100,546	97,292	3,254
	41,032	23,998	17,034
	38,836	34,136	4,700
	24,738	26,627	-1,889
	30,362	24,927	5,435
	35,742	27,491	8,251
	1,172,679	1,153,000	19,679
	3,434	3,462	-28
	24,879	17,552	7,327
	23,287	24,875	-1,588
	30,231	23,473	6,758
	37,601	33,135	4,466
	45,579	32,381	13,198
	25,217	25,093	124
	529,521	551,745	-22,224
	500,000	405,498	94,502
	1,311,256	1,451,300	-140,044
	2,026,011	2,093,872	-67,861
	32,953	35,627	-2,674
	572,574	519,161	53,413
	581,751	460,850	120,901
	409,478	424,285	-14,807
	285,093	320,055	-34,962
	6,721	7,125	-404
	273,739	243,152	30,587
	150,297	115,213	35,084
	43,710	62,851	-19,141
	19,154	27,790	-8,636
	27,675	32,663	-4,988
	22,145	27,629	-5,484
	17,338	25,603	-8,265
	37,394	42,592	-5,198
	36,824	29,064	7,760
	61,947	101,388	-39,441
	115,858	148,757	-32,899
	20,886	26,192	-5,306
	56,616	63,700	-7,084
	21,097	25,700	-4,603
	90,576	112,096	-21,520
	57,547	48,311	9,236
	66,322	75,689	-9,367
	53,950	60,286	-6,336
	25,065	16,474	8,591
	27,718	32,115	-4,397
	78,745	108,841	-30,096
	5,188	6,729	-1,541
	107,863	116,174	-8,311
	57,696	72,713	-15,017
	60,915	61,839	-924
	45,483	16,932	28,551
	19,696	26,262	-6,566
	50,564	51,404	-840
	122,726	123,388	-662
	18,658	25,089	-6,431
	18,231	20,179	-1,948
	131,127	144,471	-13,344
	40,817	48,549	-7,732
	86,283	67,141	19,142
	76,496	77,975	-1,479
	39,740	35,811	3,929
	21,277	25,185	-3,908
	45,375	33,569	11,806
	24,355	23,801	554
	20,686	25,328	-4,642
	70,280	71,927	-1,647
	22,445	20,977	1,468
	62,375	52,331	10,044
	17,875	25,183	-7,308
	49,908	52,245	-2,337
	57,611	49,288	8,323
	61,320	83,100	-21,780
	129,610	74,046	55,564
	42,855	44,519	-1,664
	40,756	34,383	6,373
	1,518,576	1,585,181	-66,605
	8,566	9,628	-1,062
	500,000	500,000
	267,370	258,815	8,555
	2,199	2,292	-93
	143		143
	392,254	401,798	-9,544
	15,624	7,325	8,299
	29,195	27,915	1,280
	7,131	6,962	169
	1,853	2,511	-658
	9,277	7,844	1,433
	9,689	8,898	791
	18,791	24,698	-5,907
	16,278	23,613	-7,335
	67,069	77,667	-10,598
	17,519	23,511	-5,992
	5,542	5,106	436
	4,138	5,014	-876
	7,533	11,071	-3,538
	3,071	3,373	-302
	14,591	19,150	-4,559
	9,144	5,479	3,665
	11,990	13,437	-1,447
	7,436	4,064	3,372
	44,180	49,893	-5,713
	25,449	26,431	-982
	7,920	8,288	-368
	1,557	2,342	-785
	6,753	6,833	-80
	4,057	4,838	-781
	97,963	96,098	1,865
	2,356	2,387	-31
	8,122	7,196	926
	15,382	15,701	-319
	19,565	17,452	2,113
	10,614	7,944	2,670
	14,083	15,324	-1,241
	40,501	42,792	-2,291
	5,022	5,149	-127
	6,372	5,290	1,082
	10,878	10,760	118
	6,315	5,703	612
	7,725	7,429	296
	6,523	6,877	-354
	7,908		7,908
	1,797		1,797
	2,777,000	3,000,000	-223,000
	65,545	60,965	4,580
	24,380	23,209	1,171
	81,309	77,266	4,043
	39,823	36,882	2,941
	87,237	77,810	9,427
	24,641	30,584	-5,943
	66,844	82,373	-15,529
	30,464	6,410	24,054
	24,877	20,019	4,858
	25,376	14,684	10,692
	52,319	28,220	24,099
	73,529	86,220	-12,691
	27,832	19,278	8,554
	42,434	40,061	2,373
	35,727	37,083	-1,356
	61,961	60,914	1,047
	83,256	83,714	-458
	24,808	12,476	12,332
	25,274	22,512	2,762
	52,322	37,853	14,469
	69,273	72,772	-3,499
	20,706	25,352	-4,646
	102,978	104,329	-1,351
	24,632	23,315	1,317
	6,799	8,374	-1,575
	36,106	37,351	-1,245
	8,203	7,960	243
	24,367	23,646	721
	5,072	5,273	-201
	25,202	26,213	-1,011
	25,316	25,012	304
	45,100	44,451	649
	24,402	24,823	-421
	5,578	3,325	2,253
	25,434	25,953	-519
	22,663	24,400	-1,737
	10,014	7,126	2,888
	40,547	28,857	11,690
	13,676	25,952	-12,276
	33,657	33,883	-226
	219,888	258,789	-38,901
	26,069	25,458	611
	32,814	35,119	-2,305
	79,266	78,849	417
	30,961	23,267	7,694
	23,721	24,785	-1,064
	24,926	24,217	709
	147,734	172,333	-24,599
	646,238	734,530	-88,292
	499,879	537,073	-37,194
			110

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			2,038
b			306
c			15,328
d			-64
e			-1
			12,749
			31,477
			91
			233
			29,410
			135
			6,018
			-1,533
			17,304
			4,990
			24,143
			19,206
			94,659
			1,812
			10,217
			2,340
			10,685
			3,479
			20,151
			3,495
			16,543
			14,830
			-5,056
			-23,443
			1,738
			5,838
			3,015
			12,409
			-897
			-4,332
			-1,162
			-5,706
			4,812
			23,145
			2,483
			9,040
			43,044
			25,468
			-7,183
			-34,635
			849
			2,652
			35,987
			1,140
			5,933
			4,301
			2,081
			13,671
			1,641
			56,260
			2,260
			470
			4,307
			15,999
			-1,883
			896
			184
			-209
			7,645
			38,752
			7,999
			-624
			3,121
			15,101
			8,150
			-4,869
			-29,319
			1,061
			38,937
			2,598
			12,805
			26,671
			4,228
			-1,173
			-9,211
			3,275
			15,393
			3,588
			23,934
			-236
			1,138
			7,184
			4,549
			21,851
			-1,243
			-6,116
			33,509
			3,450
			6,518
			19,874
			4,054
			-7,138
			-1,918
			15,235
			186
			228
			2,914
			9,573
			1,802
			30,809
			9,084
			2,500
			2,735
			11,862
			2,528
			5,670
			24,062
			-12,342
			-256
			-1,203
			11,513
			14,563
			3,210
			19,765
			114,033
			2,020
			2,204
			1,937
			18,098
			3,817
			8,441
			5,638
			30,263
			2,041
			-6,432
			-5,880
			36,467
			3,691
			388
			52,379
			3,428
			-7,798
			-1,654
			6,228
			33,820
			5,043
			-13,494
			-2,741
			3,511
			737
			16,395
			4,321
			36,767
			5,361
			-2,677
			3,336
			812
			13,270
			1,160
			5,868
			-1,150
			-3,936
			9,428
			1,468
			7,157
			6,030
			-842
			2,114
			14,964
			3,783
			18,354
			1,146
			5,434
			2,987
			31,418
			-6,235
			-27
			883
			1,773
			1,227
			1,738
			16,163
			13,148
			4,626
			54
			4,099
			10,275
			-2,699
			-3,172
			-1,107
			-2,509
			-1,834
			793
			19,387
			-2,341
			9,459
			6,296
			-1,863

			7,030
			7,529
			4,296
			7,444
			372
			63
			-5
			2
			44
			-20,894
			-7,036
			-10,338
			-2,990
			-5,184
			-6,674
			-324
			-3,223
			-349
			-5,121
			-20,685
			-10,158
			-8,802
			-1,091
			-233
			-1,225
			-5,993
			-974
			-11,215
			-8,578
			-5,523
			-47,907
			-3,020
			-1,208
			3,254
			17,034
			4,700
			-1,889
			5,435
			8,251
			19,679
			-28
			7,327
			-1,588
			6,758
			4,466
			13,198
			124
			-22,224
			94,502
			-140,044
			-67,861
			-2,674
			53,413
			120,901
			-14,807
			-34,962
			-404
			30,587
			35,084
			-19,141
			-8,636
			-4,988
			-5,484
			-8,265
			-5,198
			7,760
			-39,441
			-32,899
			-5,306
			-7,084
			-4,603
			-21,520
			9,236
			-9,367
			-6,336
			8,591
			-4,397
			-30,096
			-1,541
			-8,311
			-15,017
			-924
			28,551
			-6,566
			-840
			-662
			-6,431
			-1,948
			-13,344
			-7,732
			19,142
			-1,479
			3,929
			-3,908
			11,806
			554
			-4,642
			-1,647
			1,468
			10,044
			-7,308
			-2,337
			8,323
			-21,780
			55,564
			-1,664
			6,373
			-66,605
			-1,062

			8,555
			-93
			143
			-9,544
			8,299
			1,280
			169
			-658
			1,433
			791
			-5,907
			-7,335
			-10,598
			-5,992
			436
			-876
			-3,538
			-302
			-4,559
			3,665
			-1,447
			3,372
			-5,713
			-982
			-368
			-785
			-80
			-781
			1,865
			-31
			926
			-319
			2,113
			2,670
			-1,241
			-2,291
			-127
			1,082
			118
			612
			296
			-354
			7,908
			1,797
			-223,000
			4,580
			1,171
			4,043
			2,941
			9,427
			-5,943
			-15,529
			24,054
			4,858
			10,692
			24,099
			-12,691
			8,554
			2,373
			-1,356
			1,047
			-458
			12,332
			2,762
			14,469
			-3,499
			-4,646
			-1,351
			1,317
			-1,575
			-1,245
			243
			721
			-201
			-1,011
			304
			649
			-421
			2,253
			-519
			-1,737
			2,888
			11,690
			-12,276
			-226
			-38,901
			611
			-2,305
			417
			7,694
			-1,064
			709
			-24,599
			-88,292
			-37,194

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	1,020,437
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . .		3

Part V

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

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

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

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

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

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2010	1,430,355	33,409,764	0.042812
2009	1,698,232	30,145,843	0.056334
2008	2,029,699	35,191,968	0.057675
2007	1,816,864	40,533,624	0.044824
2006	1,767,129	38,285,211	0.046157

2	Total of line 1, column (d) ......................	2	0.247802
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	0.04956
4	Enter the net value of noncharitable-use assets for 2011 from Part X, line 5.....	4	35,282,986
5	Multiply line 4 by line 3.......................	5	1,748,625
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	18,385
7	Add lines 5 and 6.........................	7	1,767,010
8	Enter qualifying distributions from Part XII, line 4..............	8	1,814,859
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions on page 18.

Form 990-PF (2011)

Page 4

Part VI

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

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	18,385
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	18,385
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	18,385
6	Credits/Payments:

a	2011 estimated tax payments and 2010 overpayment credited to 2011	6a	48,440
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	48,440
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	30,055
11	Enter the amount of line 10 to be: Credited to 2012 estimated tax9,194	Refunded	11	20,861

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

Yes

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

instructions) bullet

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

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

Yes

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

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

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

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

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

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

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

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

Yes

Website address bullet

The books are in care of bullet

US BANK CHARITABLE SERVICES GROUP Telephone no. bullet

(612) 303-3208

Located at bullet

800 NICOLET MALLMINNEAPOLISMN ZIP+4 bullet

554027020

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

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

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

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

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

Form 990-PF (2011)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If “Yes,” list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If “Yes” to 6b, file Form 8870.

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

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

Form 990-PF (2011)

Page 6

Part VIII

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

1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
US BANK NATIONAL ASSOCIATION	CORP TRUSTEE 1	244,538
101 5TH STREET E ST PAUL,MN55101	CORP TRUSTEE 1	244,538
THOMAS A KELLER III	CO-TRUSTEE 5	111,996
C/O MOSS BARNETT 90 S 7TH ST MINNEAPOLIS,MN55402	CO-TRUSTEE 5	111,996

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









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

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

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

Part IX-A

Summary of Direct Charitable Activities

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


2


3


4

Form 990-PF (2011)

Page 7

Part IX-B

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

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


2


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

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

Part X

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

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

purposes:

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

33,880,503

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

1,939,787

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

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

35,820,290

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

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

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

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

35,820,290

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

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

537,304

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

35,282,986

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

1,764,149

Part XI

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

and do not complete this part.)

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

1,764,149

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

18,385

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

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

18,385

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

1,745,764

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

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

1,745,764

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

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

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

1,745,764

Part XII

Qualifying Distributions (see page 25 of the instructions)

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

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

1,814,859

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

1,814,859

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)............

18,385

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

1,796,474

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

Form 990-PF (2011)

Page 8

Part XIII

Undistributed Income (see page 26 of the instructions)

		(a) Corpus	(b) Years prior to 2010	(c) 2010	(d) 2011
1 Distributable amount for 2011 from Part XI, line 7					1,745,764
2 Undistributed income, if any, as of the end of 2011:
a Enter amount for 2010 only.......				1,507,257
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: $ 1,814,859
a Applied to 2010, but not more than line 2a				1,507,257
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.....					307,602
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 ..........					1,438,162
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see page 27 of the instructions) ...........		0
8Excess distributions carryover from 2006 not applied on line 5 or line 7 (see page 27 of the instructions) .............		0
9Excess distributions carryover to 2012. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2007....	0
b Excess from 2008....	0
c Excess from 2009....	0
d Excess from 2010....	0
e Excess from 2011....	0

Form 990-PF (2011)

Page 9

Part XIV

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

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

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

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

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

Part XV

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

1Information Regarding Foundation Managers:

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

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

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

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

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

cAny submission deadlines:

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

Form 990-PF (2011)

Page 10

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
SHOLOM HOME EAST INC C/O SHOLOM FOUNDATION 3620 PHILLIPS PARKWAY ST LOUIS PARK,MN55426	NONE	NONE	OPERATIONAL SUPPORT	175,521
NORTH BRANCH SCHOOL DISTRICT #138 6655 MAIN STREET NORTH BRANCH,MN55056	NONE	NONE	GENERAL OPERATING SUPPORT	52,656
UNITED JEWISH FUND & COUNCIL INC 790 SIOUTH CLEVELAND AVE SUIT 227 ST PAUL,MN55116	NONE	NONE	GENERAL OPERATING SUPPORT	263,282
MINNESOTA MASONIC HOMES DR 11501 MASONIC HOME DRIVE BLOOMINGTON,MN55437	NONE	NONE	GENERAL OPERATING SUPPORT	35,104
UNIVERSITY OF MINNESOTA SOCIOLOGY DEPARTMENT 200 OAK STREET SE SUITE 500 MINNEAPOLIS,MN554552010	NONE	NONE	GENERAL OPERATING SUPPORT	87,761
UNIVERSITY OF MINNESOTA GREATER UNIVERSITY FUND 200 OAK STREET SE SUITE 500 MINNEAPOLIS,MN55455	NONE	NONE	GENERAL OPERATING SUPPORT	175,521
THEATRE LATTE - DA 1170 15TH AVENUE SE SUITE 203 MINNEAPOLIS,MN55414	NONE	NONE	GENERAL OPERATING SUPPORT	20,000
ACTORSFUND Attn Joseph Benincasa 729 SEVENTH AVE 10TH FLOOR New York,NY10019	NONE	NONE	GENERAL OPERATING SUPPORT	5,000
PLAYWRIGHTS CENTER 2301 FRANKLIN AVENUE E MINNEAPOLIS,MN55406	NONE	NONE	GENERAL OPERATING SUPPORT	70,000
THEATRE COMMUNICATIONS GROUP 520 EIGHTH AVE 24TH FLOOR NEW YORK,NY100184156	NONE	NONE	GENERAL OPERATING SUPPORT	25,000
PILLSBURY UNITED COMMUNITIES 1201 37TH AVENUE N MINNEAPOLIS,MN55412	NONE	NONE	GENERAL OPERATING SUPPORT	55,000
ST PAUL FOUNDATION 55 - 5TH STREET E SUITE 600 ST PAUL,MN55101	NONE	NONE	GENERAL OPERATING SUPPORT	175,521
NATIONAL JEWSH CENTER FOR UMMUNOLOG 1400 JACKSON STREET DENVER,CO80206	NONE	NONE	GENERAL OPERATING SUPPORT	175,521
NEW YORK SHAKESPEARE FESTIVAL 425 LAFAYETTE STREET NEW YORK,NY10003	NONE	NONE	GENERAL OPERATING SUPPORT	70,000
BRANDEIS UNIVERSITY 415 SOUTH ST WALTHAM,MA024532700	NONE	PUBLIC	OPERATIONAL SUPPORT	263,282
Total ................................. 3a				1,649,169

bApproved for future payment

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

Form 990-PF (2011)

Page 11

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3Interest on savings and temporary cash investments
4 Dividends and interest from securities....			14	1,003,858
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	1,020,437
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aEXCISE TAX REFUND			14	1,000
bDEFERRED INCOME			14	820
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				2,026,115

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

132,026,115

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2011)

Page 12

Part XVII

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

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

Yes

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

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If “Yes,” complete the following schedule.

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

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

	Signature of officer or trustee	Date	Title

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

Form 990-PF (2011)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
TARGET CORP
BANKAMERICA CORP
HERSHEY FOODS CORP	487,070	517,105
GENERAL ELECTRIC CO	719,964	729,470
CS FIRST BOSTON USA INC	247,390	260,578
ABBOTT LABORATORIES	358,064	378,508
BERKSHIRE HATHAWAY FIN	250,238	276,935
MERCK & CO INC	260,075	279,148
PITNEY BOWERS INC	242,305	264,435
ARTIO GLOBAL HIGH INCOME I
ISHARES IBOXX & INVESTMENT GRA
PIMCO TOTAL RETUNR FUND INST	2,968,302	3,026,130
INV BALANCE RISK COMM STR Y	400,000	403,976
NUVEEN HIGH INCOME BOND FD CI	1,407,101	1,405,547
NUVEEN INFLATION PRO SEC CI I	1,222,693	1,299,169

Description	Revenue And Expenses Per Books	Net Investment Income
FRONTIER RECEIPT	820	820
EXCISE TAX REFUND	1,000	0
POWERSHARES DB COMMODITY INDEX TRDG FD		0
INTEREST INCOME		411
NET SHORT TERM CAPITAL LOSS		-2,359
NET LONG TERM CAPITAL GAIN		10,303
SECTION 1256 CONTRACTS/STRADDLES		32,934
OTHER PORTFOLIO DEDUCTIONS		-4,291

Category	Amount	Net Investment Income
FOREIGN TAXES	200	200
FEDERAL TAX PAYMENT - PRIOR YE	4,462	0
FEDERAL TAX	48,440	0
FOREIGN TAXES ON QUALIFIED FOR	31,115	31,115
FOREIGN TAXES ON NONQUALIFIED	692	692

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABORATORIES	33,002	36,831
AKAMAI TECHNOLOGIES INC
ALPHA NATURAL RESOURCES INC
AMAZON COM INC	40,869	60,585
AMERICAN ELECTRIC	61,468	74,482
AMERICAN EXPRESS COQ	81,756	100,802
AMERISOURCEBERGEN CORP	92,415	164,566
APACHE CORP	18,117	24,910
APOLLO GROUP INC CI A
APPLE INC	144,532	445,500
ATT INC	104,329	120,960
AVON PRODS INC
BAKER HUGHES INC
BAXTER INTL INC
BORG WARNER INC	96,063	132,261
BROCADE COMMUNICATIONS SYS
BRUSH ENGINEERED MATERIALS INC
CABOT MICROELECTRONICS CORP
CABOT OIL GAS CORP CI A	35,342	95,103
CELANESE CORP SER A	4,500	6,641
CHEVRON CORPORATION	181,293	338,565
CIGNA CORP
CISCO SYS INC	146,737	176,280
CITY NATIONAL CORP
CLOROX CO	14,365	16,440
COMMSCOPE INC
COOPER COS INC	13,472	24,416
CVS CAREMARK CORP	67,231	79,521
DIRECTV CI A	47,296	76,968
DISCOVER FINL SERVICES	42,763	85,680
DISH NETWORK CORP CI A	30,099	47,619
DOVER CORP	74,860	124,808
E BAY INC	79,619	129,812
E M C CORPORATION	79,713	158,319
E O G RES INC	82,992	91,122
EXXON MOBIL CORP	61,757	71,792
FAIR ISAAC CORPORATION	5,956	11,469
FIFTH THIRD BANCORP	59,135	62,570
FLIR SYSTEMS INC	18,797	30,084
FLOWSERVE CORP	60,641	57,109
FORRESTER RESH INC	32,379	60,481
FRANKLIN RES INC	45,757	43,707
FRONTIER COMMUNICATIONS CORP		7,231
F5 NETWORKS INC	9,307	44,146
GANNETT INC
GENERAL DYNAMICS CORP
GENERAL ELECTRIC CO	177,063	325,962
GENERAL MILLS INC	67,302	84,093
GILEAD SCIENCES INC
GOLDMAN SACHS GROUP INC	52,343	44,492
GOOGLE INC CL A	106,156	193,124
GREENHILL CO INC
HANESBRANDS INC
HELIX ENERGY SOLUTIONS GROUP I	24,248	22,942
HELMERICH PAYNE INC	6,222	13,656
HEWLETT PACKARD CO
HONEYWELL INTERNATIONAL INC	41,643	92,395
HUMANA INC	51,567	120,464
ILLINOIS TOOL WORKS
INTERDIGITAL INC	3,701	7,102
INTERNATIONAL BUSINESS MACHINE	197,110	371,438
INTERNATIONAL PAPER CO
J P MORGAN CHASE CO	51,925	53,466
JOY GLOBAL INC	42,334	70,697
KANSAS CITY SOUTHERN	36,318	141,121
KAYDON CORP
LAM RESEARCH CORP
LEGG MASON INC
LIZ CLAIBORNE INC
LORILLARD INC	5,639	8,436
LOWES CO INC	3,818	4,442
MANHATTAN ASSOCS INC	43,777	80,353
MASCO CORP
MASTERCARD INC	28,751	51,449
MEAD JOHNSON NUTRITION CO
MEDCO HEALTH SOLUTIONS INC	57,723	75,465
MERCK AND CO INC NEW	90,999	90,329
MERITAGE HOMES CORPORATION
MICROSOFT CORP	166,778	224,554
MOLINA HEALTHCARE INC
MONSTER WORLDWIDE INC
MYLAN INC
NEWS CORP INC CL A	36,630	50,452
NORDSTROM INC
NOVELLUS SYSTEMS INC	47,436	97,651
O M GROUP INC
OCCIDENTAL PETROLEUM CORP	150,267	210,450
OVERSEAS SHIPHOLDING GROUP INC
OWENS ILL INC
P F CHANGS CHINA BISTRO INC
P G E CORP	5,369	5,894
P N C FINANCIAL SERVICES GROUP	118,349	168,281
P P G INDS INC	43,957	64,705
PACKAGING CORP AMERICA	23,546	40,586
PARKER HANNIFIN CORP	77,575	145,561
PEABODY ENERGY CORP	40,515	32,613
PEPSICO INC	133,985	152,605
PFIZER INC	102,413	163,382
PHILIP MORRIS INTL	25,681	53,445
PLANTRONICS INC
POWER INTEGRATIONS INC
PROCTER & GAMBLE CO	22,796	27,885
PRUDENTIAL FINANCIAL INC	69,939	92,722
PUBLIC SVC ENTERPRISE GROUP	94,343	108,933
QUALCOMM INC	5,374	7,549
QUESTAR CORP	18,189	25,322
RAYMOND JAMES FINL INC
ROSS STORES INC	56,887	124,624
RYLAND GROUP INC
SHAW GROUP INC
SIMPSON MTG CO INC	21,457	50,490
SM ENERGY CO	23,002	54,240
SOTHEBYS HLDGS INC CL	15,984	25,392
SOUTHWESTERN ENERGY
SPRINT NEXTEL CORP
ST JUDE MED INC
STARBUCKS CORP	22,016	47,666
STATE STR CORP
STEEL DYNAMICS INC
T ROWE PRICE GROUP INC
TARGET CORPORATION	22,139	26,839
TERADATA CORP DEL	21,866	37,547
TETRA TECHNOLOGIES INC
TEXAS INSTRUMENTS INC	76,485	95,073
THERMO FISHER SCIENTIFIC INC	63,603	64,082
THOR INDUSTRIES INC
TRIUMPH GROUP INC	20,411	46,760
UNITED HEALTH GROUP INC	56,426	82,355
UNITED PARCEL SERVICE INC	43,629	57,308
UNITED TECHNOLOGIES CORP	133,511	200,998
UNUM GROUP	29,226	29,898
URBAN OUTFITTERS INC
VARIAN SEMICONDUCTOR EQUIP
VERIZON COMMUNICATIONS INC	69,172	86,659
VIACOM INC CL B	46,834	80,285
WAL MART STORES INC	33,457	36,872
WELLS FARGO CO	99,240	136,422
WESTERN UNION CO
WILLIAMS SONOMA INC	24,955	95,326
WINTRUST FINL CORP
WRIGHT MEDICAL GROUP
ZIONS BANCORPORATION
AXIS CAPITAL HOLDINGS LTD	33,555	39,950
CARNIVAL CORP	71,807	84,048
COOPER INDUSTRIES PLC
DIANA SHIPPING INC
NOBLE CORP	23,901	18,132
RIO TINTO PLC ADR
TYCO INTERNATIONAL LTD	38,288	58,574
XI GROUP PLC	3,548	4,389
ISHARES MSCI AUSTRALIA ETF
ISHARES MSCI CANADA ETF
ISHARES MSCI EAFE INDEX FD ETF
LAZARD EMERGING MKTS PORT
POWERSHARES DB COMMODITY IND
AFLAC INC	63,431	70,730
AGCO CORP	41,870	39,833
ALLERGAN INC	56,396	63,173
AMGEN INC	93,140	107,231
ANADARKO PETROLEUM CORP	111,327	110,144
ANSYS INC	50,472	52,869
AVALONBAY CMNTYS INC	50,365	52,893
BOEING CO	34,705	33,888
BOSTON PPTYS INC	71,718	73,206
BROADCOM CORP CI A	82,155	76,894
CAMDEN PPTY TR	24,871	27,074
CAMERON INTL CORP	68,161	70,834
CELGENE CORP	51,726	60,975
CERNER CORPORATION	84,911	92,243
CHURCH AND DWINGHT CO INC	25,274	28,920
CITIGROUP INC	54,479	51,357
COGNIZANT TECH SOLUTIONS CL A	32,627	30,676
CONOCOPHILLIPS	60,513	63,178
DARDEN RESTAURANTS INC	25,234	27,257
DISNEY WALT CO	54,833	60,000
DU PONT E I DE NEMOURS & CO	24,764	24,904
EATON VANCE CORP	25,417	25,933
ENERGEN CORP	34,156	34,400
EQUINIX INC	57,533	59,725
EXPRESS SCRIPTS INC	45,465	36,333
FLOUR CORP	50,181	43,366
FMC TECHNOLOGIES INC	25,358	28,361
FREEPORT MCMORAN COPPER GOLD	81,342	76,634
GENTEX CORP	24,300	29,205
GOODRICH CORP	25,526	35,997
HALLIBURTON CO	81,237	63,602
HARSCO CORP	49,553	50,236
HESS CORP	31,680	23,799
HEXCEL CORP NEW	24,804	24,767
HMS HIDGS CORP	25,040	29,837
IDEXX LABS INC	25,424	24,627
JEFFERIES GROUP INC	25,808	27,816
JOHNSON JOHNSON	163,938	166,770
KEYCORP NEW	32,160	34,336
KIRBY CORP	25,948	26,468
KOHLS CORP	33,342	32,423
KRAFT FOODS INC CL A	76,383	85,143
LAUDER ESTEE COS INC CLA	94,802	106,704
MCDONALDS CORP	197,625	253,935
METLIFE INC	67,349	65,135
MICROS SYS INC	25,477	23,430
NIKE INC	57,135	66,303
NORDSON CORP	25,305	22,072
ONEONK INC	51,799	67,792
ORACLE CORPORATION	125,433	94,905
P P L CORPORATION	62,271	62,753
PERRIGO CO	51,417	57,018
PIONEER NAT RES CO	124,545	117,040
PRAXAIR INC	24,526	26,404
PRICELINE COM INC	135,585	119,266
RALPH LAUREN CORP	31,791	34,106
REINSURANCE GROUP AMERICA	25,602	26,439
REYNOLDS AMERICAN INC	42,524	48,586
SCHEIN HENRY INC	61,533	55,861
SIMON PROPERTY GROUP INC	57,800	63,181
TIME WARNER CABLE INC	39,353	34,074
TIME WARNER INC	46,614	48,789
TJX COMPANIES INC	77,628	87,594
TRAVELERS COS INC	24,809	29,348
ULTA SALON COSMETICS & FRAGRAN	24,989	30,707
UNION PACIFIC CORP	187,582	208,278
UNITED NAT FOODS INC	25,273	23,326
VALPAR CORP	24,694	30,552
VARIAN MED SYS INC	85,660	85,792
ABB LTD A D R	34,931	35,137
ACCENTURE PLC CL A	103,312	94,057
ACE LTD	62,955	65,562
B H P BILLITON LIMITED A D R	128,680	130,030
CNOON LTD A D R	94,668	74,239
COMPANHIA DE BEBIDAS P R A D R	129,765	149,737
COVIDIEN PLC	56,990	48,746
DIAGEO PLC SPONSORED A D R	26,559	28,674
NABORS INDUSTRIES LTD	25,884	26,496
NETEASE COM INC A D R	58,152	55,749
SCHLUMBERGER LTD	90,426	72,614
TEVA PHARMACEUTICAL INDS LTD	25,116	21,431
VODAFONE GROUP PLC A D R	61,783	59,816
AON CORP	5,055	5,195
MATERION CORP	2,367	3,351
SEMPRA ENERGY	5,249	5,390
ABERDEEN FDS EMRGN LKT INSTL	1,644,905	1,684,647
IPATH DOW JONES UBS COMMODITY	595,606	601,540
LAUDUS INTL MARKETMASTERS FUND	500,000	502,137
NUVEEN GLOBAL INFRASTR FD CL L	2,436,295	2,394,448
NUVEEN MID CAP GRWTH OPP FD CL	382,360	322,574
NUVEEN SMALL CAP SELECT FD CL	739,111	809,639
NUVEEN TRADEWINDS INTL VAL - C	2,800,000	2,634,074

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
OTHER NONALLOCABLE EXPENSES -	83	83	0
FILING FEES	25	0	25
OTHER EXPENSES	362	0	362