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
OTTO AND FRAN WALTER FOUNDATION INC
 

Number and street (or P.O. box number if mail is not delivered to street address)THE BRICK HOUSE 7 OAK STREET   Room/suite
City or town, state, and ZIP code
BOOTHBAY HARBOR, ME04538
A Employer identification number

13-1625529
B Telephone number (see page 10 of the instructions)

(207) 633-7300
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$12,665,407J 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      
4 Dividends and interest from securities...... 341,213 341,213  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 562,111
b Gross sales price for all assets on line 6a 6,855,366
7 Capital gain net income (from Part IV, line 2)... 562,111
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).......      
12 Total. Add lines 1 through 11........ 903,324 903,324  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 136,800 34,200   102,600
14 Other employee salaries and wages...... 23,380 5,845   17,535
15 Pension plans, employee benefits....... 24,215 6,054   18,161
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 15,600 7,801   7,799
c Other professional fees (attach schedule).... Click to see attachment 75,405 37,703   37,911
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 21,068 3,298   9,895
19 Depreciation (attach schedule) and depletion... Click to see attachment 4,427 0  
20 Occupancy.............. 17,039 4,260   12,779
21 Travel, conferences, and meetings....... 49,623 12,406   37,217
22 Printing and publications.......... 125 31   94
23 Other expenses (attach schedule)....... Click to see attachment 20,399 4,236   16,163
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 388,081 115,834   260,154
25 Contributions, gifts, grants paid........ 810,324 680,000
26 Total expenses and disbursements. Add lines 24 and 25 1,198,405 115,834   940,154
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -295,081
b Net investment income (if negative, enter -0-) 787,490
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...............   3,259 3,259
2 Savings and temporary cash investments.......... 387,352 71,531 71,531
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........... 8,193 2,125 2,125
10a Investments—U.S. and state government obligations (attach schedule) 2,357,142 Click to see attachment2,383,174 2,686,749
b Investments—corporate stock (attach schedule)........ 6,819,162 Click to see attachment6,847,040 7,846,786
c Investments—corporate bonds (attach schedule)........ 1,728,576 Click to see attachment1,843,253 1,988,879
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 bullet41,924
Less: accumulated depreciation (attach schedule) bullet20,978 20,005 Click to see attachment20,946 20,946
15 Other assets (describe bullet) Click to see attachment62,938 Click to see attachment45,132 Click to see attachment45,132
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 11,383,368 11,216,460 12,665,407
Liabilities 17 Accounts payable and accrued expenses.......... 29,235 27,084
18 Grants payable................... 1,539,750 1,270,074
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).......... 1,568,985 1,297,158
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................... 9,814,383 9,919,302
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
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).................... 9,814,383 9,919,302
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 11,383,368 11,216,460
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 9,814,383
2 Enter amount from Part I, line 27a..................... 2 -295,081
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 400,000
4 Add lines 1, 2, and 3.......................... 4 9,919,302
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 9,919,302
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 1,990 AGCO CORP P 2010-08-11 2011-07-08
b 7,210 AT&T P 2005-12-09 2011-12-23
c 40 ACCENTURE PLC CL A P 2011-04-01 2011-07-08
d 60 ALASKA AIR GROUP INC P 2011-01-31 2011-07-08
e 1,360 ALLIED WORLD ASSURANCE P 2010-09-24 2011-04-01
890 AMERICAN EXPRESS P 2009-06-17 2011-02-07
230 AMERIPRISE FINANCIAL INC P 2008-12-29 2011-05-23
2,620 AMERISOURCEBERGEN P 2009-07-09 2011-11-22
280 AMERN FINANCIAL GROUP P 2010-09-10 2011-07-08
1,867 AMGEN INCORPORATED P 2008-09-17 2011-12-14
140 APPLE INC P 2009-10-29 2011-07-08
2,570 ASCENA RETAIL GROUP INC P 2011-06-21 2011-09-19
2,840 ATMEL CORP P 2011-06-09 2011-08-16
290 ATMOS ENERGY CORP P 2010-07-02 2011-07-08
170 AUTOZONE INC P 2009-11-11 2011-03-02
660 BAKER HUGHES INC P 2011-08-03 2011-12-02
1,890 BMC SOFTWARE INC P 2010-11-29 2011-10-17
910 BOSTON PROPERTIES INC P 2010-09-10 2011-01-14
2,130 BRISTOL-MYERS SQUIBB CO P 2010-07-06 2011-07-08
3,890 CA INC P 2010-01-22 2011-10-17
10 CABOT OIL & GAS P 2011-06-09 2011-07-08
870 CAPITAL ONE FINANCE P 2009-09-16 2011-09-21
760 CATERPILLAR INC P 2011-07-11 2011-12-02
1,960 CBS CORPORATION CL B NEW P 2010-02-17 2011-07-08
80 CENTERPOINT ENERGY INC P 2011-06-24 2011-07-08
1,130 CEPHALON INC P 2010-03-19 2011-03-02
450 CHEVRON TEXACO COR P 2004-07-02 2011-11-22
2,214 CISCO SYSTEMS INC P 2004-07-21 2011-05-09
1,690 CITIGROUP INC P 2010-11-10 2011-07-08
490 CMS ENERGY CORP P 2010-11-03 2011-07-08
550 COACH INC P 2010-09-24 2011-07-08
980 COCA COLA P 2009-11-12 2011-07-08
280 CONOCOPHILLIPS P 2007-09-26 2011-07-08
2,100 CROWN HOLDINGS INC P 2011-08-08 2011-10-11
190 CUMMINS INC P 2010-02-10 2011-07-08
2,420 DANA HOLDING CORPORATION P 2011-05-09 2011-09-12
1,600 DEERE & CO. P 2010-03-19 2011-07-01
630 DEVON ENERGY CP NEW P 2010-11-16 2011-09-21
50 DIRECTV CL A P 2011-05-13 2011-07-08
30 DISCOVER FINANCIAL SVCS P 2011-07-01 2011-07-08
270 DR PEPPER SNAPPLE CO P 2009-05-06 2011-07-08
2,300 DU PONT E I DE NEMOUR & CO P 2011-02-07 2011-06-08
660 DUN & BRADSTREET CP NEW P 2010-09-24 2011-03-01
3,620 EAST WEST BANCORP P 2011-02-09 2011-09-16
1,150 EASTMAN CHEMICAL CO P 2008-07-15 2011-09-16
2,510 ENDO PHARM HOLDINGS INC P 2010-09-10 2011-05-27
550 ENERGIZER HOLDING INC P 2010-09-10 2011-02-18
3,720 EXCO RESOUCES INC P 2009-12-18 2011-02-07
390 EXXON MOBIL CORP P 2005-11-14 2011-07-08
3,700 FIFTH THIRD BANCORP P 2009-08-07 2011-04-28
110 FOOT LOCKER INC P 2011-03-28 2011-07-08
2,070 GAP INC P 2010-12-07 2011-05-25
4,860 GENERAL ELECTRIC CO P 2004-07-02 2011-08-24
270 GILEAD SCIENCES INC P 2010-11-09 2011-07-08
4,720 GOODYEAR TIRE & RUBBER P 2010-04-27 2011-02-18
10 GOOGLE INC CLASS A P 2009-10-28 2011-01-14
3,040 HALLIBURTON CO HLDG CO P 2010-07-28 2011-07-08
2,010 HARLEY DAVIDSON INC P 2011-06-09 2011-12-02
20 HELMERICH & PAYNE INC P 2011-06-08 2011-07-08
40 HERSHEY COMPANY P 2011-02-18 2011-07-08
3,785 HEWLETT-PACKARD CO P 2004-11-09 2011-06-08
310 HONEYWELL INTERNATIONAL P 2010-05-07 2011-07-08
2,360 IAC/INTERACTIVE CORP NEW P 2011-03-01 2011-12-02
2,010 INTEL CORP P 2009-04-16 2011-09-06
1,030 INTERNATIONAL BUSINESS MACHINES CORP P 2006-02-14 2011-10-25
3,550 INTERNATIONAL PAPER P 2009-06-10 2011-03-25
760 J B HUNT TRANSPORT SVCS P 2010-08-24 2011-09-21
1,990 JOHNSON & JOHNSON P 2004-07-14 2011-10-25
1,000 JOY GLOBAL INC P 2011-06-24 2011-10-17
260 JPMORGAN CHASE & CO P 2010-11-09 2011-07-08
150 KBR INC P 2011-01-19 2011-07-08
1,110 LIMITED BRANDS INC P 2010-11-26 2011-11-15
20 M&T BANK CORPORATION P 2011-05-27 2011-07-08
400 MACYS INC P 2009-09-09 2011-07-08
210 MARATHON OIL CORP P 2010-05-21 2011-07-08
20 MARATHON PETE CORP P 2011-07-01 2011-07-08
90 MCDONALDS CORP P 2006-03-13 2011-07-08
1,600 MEDCOHEALTH SOLUTIONS P 2007-06-18 2011-08-01
2,470 MICROSOFT CORP P 2004-11-09 2011-11-15
1,130 MONSANTO CO NEW DEL P 2011-02-09 2011-05-06
4,630 NEW YORK COUNTY BANCORP P 2010-06-09 2011-01-14
2,990 NORTHEAST UTILITIES P 2010-05-21 2011-06-09
3,300 ORACLE CORPORATION P 2011-07-01 2011-09-06
140 PPG INDUSTRIES INC P 2010-08-11 2011-07-08
850 PANERA BREAD CO CL A P 2010-11-16 2011-08-01
1,380 PARKER-HANNIFIN CORP P 2010-01-20 2011-08-05
1,060 PEPSICO INCORPORATED P 2011-07-15 2011-10-25
60 PFIZER INCORPORATED P 2011-06-09 2011-07-08
590 PIONEER NATURAL RES CO P 2010-06-09 2011-08-01
950 PROCTER AND GAMBLE P 2008-11-20 2011-11-14
980 PRUDENTIAL FINANCIAL P 2009-06-15 2011-04-18
2,880 QUALCOMM INC P 2010-11-29 2011-08-24
1,540 QUEST DIAGNOSTIC INC P 2011-03-28 2011-08-01
2,650 RAYMOND JAMES FINANCIAL INC P 2010-11-10 2011-08-19
1,680 ROCKWELL AUTOMATION INC P 2010-02-08 2011-07-11
2,230 SEMPRA ENERGY P 2011-03-28 2011-06-24
1,030 SIMON PROPERTY GROUP NEW REIT P 2010-11-26 2011-03-01
3,030 SUNTRUST BANKS INC P 2011-03-25 2011-08-19
90 SYMANTEC CORP P 2011-05-27 2011-07-08
80 TECO ENERGY P 2011-06-06 2011-07-08
3,820 TEXAS INSTRUMENTS INC P 2010-04-12 2011-08-09
200 TRAVELERS COMPANIES INC P 2010-10-27 2011-07-08
1,280 TUPPERWARE BRANDS CORP P 2011-06-08 2011-09-16
2,250 UNITED PARCEL SERVICE P 2010-03-01 2011-08-01
690 UNITEDHEALTH GROUP INC P 2010-11-26 2011-08-24
3,320 VERIZON COMMUNICATIONS P 2010-09-24 2011-10-05
2,050 WADDELL & REED FINL CL A P 2011-03-01 2011-06-09
370 WATERS CORP P 2010-05-28 2011-09-16
2,950 WATSON PHARMACEUTICALS P 2010-04-27 2011-07-08
720 WEBMD HEALTH CORP P 2011-03-02 2011-05-17
3,830 WELLS FARGO & CO NEW P 2010-02-08 2011-06-09
720 WHITING PETROLEUM CORP P 2010-11-10 2011-06-24
100,000 METLIFE INC 6.125% DUE 12/1/11 P 2004-10-15 2011-12-01
150,000 MCDONALDS CORP 5.75% DUE 3/1/12 P 2004-11-22 2011-06-16
100,000 LOWES 5.6% DUE 09/15/12 P 2008-08-22 2011-08-19
100,000 FHLMB 4.625% DUE 8/15/12 P 2005-03-09 2011-10-11
(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 96,315   72,465 23,850
b 201,848   188,847 13,001
c 2,253   2,158 95
d 3,901   3,668 233
e 83,812   76,993 6,819
38,962   25,236 13,726
13,901   10,080 3,821
98,186   47,044 51,142
9,509   8,276 1,233
102,696   115,924 -13,228
47,970   30,276 17,694
71,422   79,602 -8,180
29,770   40,221 -10,451
9,467   7,913 1,554
43,260   26,773 16,487
33,933   51,089 -17,156
71,910   87,660 -15,750
78,218   79,390 -1,172
54,883   53,277 1,606
85,162   87,653 -2,491
666   559 107
38,274   40,593 -2,319
65,765   82,607 -16,842
50,993   26,461 24,532
1,569   1,513 56
63,743   79,763 -16,020
44,366   31,608 12,758
39,152   48,864 -9,712
9,952   9,545 407
9,400   8,978 422
34,109   22,986 11,123
66,171   53,403 12,768
20,135   20,091 44
64,629   75,749 -11,120
20,514   9,502 11,012
30,868   42,311 -11,443
141,189   93,175 48,014
43,276   45,150 -1,874
2,567   2,467 100
796   769 27
10,065   7,980 2,085
116,398   119,434 -3,036
53,849   47,418 6,431
59,618   81,423 -21,805
87,447   78,615 8,832
100,595   71,713 28,882
38,362   36,583 1,779
74,858   76,692 -1,834
30,718   18,325 12,393
48,490   36,413 12,077
2,397   2,028 369
40,302   44,390 -4,088
81,292   95,721 -14,429
10,528   11,264 -736
67,713   66,539 1,174
6,149   5,550 599
125,677   99,997 25,680
71,693   80,168 -8,475
1,341   1,279 62
2,202   1,986 216
139,806   120,863 18,943
17,392   14,840 2,552
94,937   77,427 17,510
41,306   38,369 2,937
174,722   99,547 75,175
98,228   56,667 41,561
31,077   25,508 5,569
123,250   124,099 -849
80,282   87,167 -6,885
11,342   10,270 1,072
5,589   4,633 956
42,431   37,369 5,062
1,750   1,736 14
9,920   9,522 398
8,915   6,407 2,508
834   523 311
6,884   4,636 2,248
101,529   64,347 37,182
65,505   71,525 -6,020
76,222   84,193 -7,971
85,617   73,066 12,551
101,147   80,089 21,058
85,811   105,302 -19,491
12,148   9,651 2,497
102,340   81,487 20,853
108,053   80,736 27,317
65,693   73,318 -7,625
1,237   1,245 -8
56,042   38,982 17,060
60,762   60,789 -27
59,601   39,000 20,601
149,997   137,854 12,143
84,855   85,635 -780
73,793   80,220 -6,427
144,959   94,248 50,711
118,950   117,344 1,606
108,451   101,508 6,943
59,533   88,837 -29,304
1,769   1,684 85
1,513   1,521 -8
114,908   95,117 19,791
11,302   11,066 236
72,049   81,529 -9,480
161,971   134,305 27,666
29,795   24,987 4,808
122,450   113,376 9,074
72,683   82,268 -9,585
29,326   23,826 5,500
25,307   19,380 5,927
36,309   41,041 -4,732
104,023   107,731 -3,708
41,264   39,385 1,879
100,000   100,000 0
155,564   151,972 3,592
105,421   100,891 4,530
103,596   100,060 3,536
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       23,850
b       13,001
c       95
d       233
e       6,819
      13,726
      3,821
      51,142
      1,233
      -13,228
      17,694
      -8,180
      -10,451
      1,554
      16,487
      -17,156
      -15,750
      -1,172
      1,606
      -2,491
      107
      -2,319
      -16,842
      24,532
      56
      -16,020
      12,758
      -9,712
      407
      422
      11,123
      12,768
      44
      -11,120
      11,012
      -11,443
      48,014
      -1,874
      100
      27
      2,085
      -3,036
      6,431
      -21,805
      8,832
      28,882
      1,779
      -1,834
      12,393
      12,077
      369
      -4,088
      -14,429
      -736
      1,174
      599
      25,680
      -8,475
      62
      216
      18,943
      2,552
      17,510
      2,937
      75,175
      41,561
      5,569
      -849
      -6,885
      1,072
      956
      5,062
      14
      398
      2,508
      311
      2,248
      37,182
      -6,020
      -7,971
      12,551
      21,058
      -19,491
      2,497
      20,853
      27,317
      -7,625
      -8
      17,060
      -27
      20,601
      12,143
      -780
      -6,427
      50,711
      1,606
      6,943
      -29,304
      85
      -8
      19,791
      236
      -9,480
      27,666
      4,808
      9,074
      -9,585
      5,500
      5,927
      -4,732
      -3,708
      1,879
      0
      3,592
      4,530
      3,536
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 2 562,111
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 952,677 12,163,309 0.078324
2009 939,491 11,417,279 0.082287
2008 965,224 15,081,812 0.063999
2007 951,141 15,453,815 0.061547
2006 1,017,171 14,713,542 0.069132
2 Total of line 1, column (d) ...................... 2 0.355289
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 0.071058
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 12,567,012
5 Multiply line 4 by line 3....................... 5 892,987
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 7,875
7 Add lines 5 and 6......................... 7 900,862
8 Enter qualifying distributions from Part XII, line 4.............. 8 940,154
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 7,875
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 7,875
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 7,875
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 10,000
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 10,000
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 2,125
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet2,125 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, ME
    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 addressbulletWWW.WALTERFOUNDATION.ORG
    14
    The books are in care ofbulletNEIL SUMNER CPA Telephone no.bullet (212) 938-1930
    Located atbullet115 WEST 29TH ST SUITE 603NEW YORKNY ZIP+4bullet100015060
    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
    FRANK G HELMAN PRESIDENT
    30.00     		60,000 0 0
    88 APPALACHEE ROAD
    BOOTHBAY HARBOR,ME04538
    MARTHA H PEAK VICE-PRESIDENT
    30.00     		45,000 0 0
    88 APPALACHEE ROAD
    BOOTHBAY HARBOR,ME04538
    CARL R GRIFFIN III SECRETARY
    0.25     		1,800 0 0
    59 ATLANTIC AVE
    BOOTHBAY HARBOR,ME04538
    FRITZ WEINSCHENK DEC'D 32312 TREASURER
    10.00     		30,000 0 0
    3051 GRAND AVENUE
    BALDWIN,NY11510
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3..........................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
    12,344,440
    b
    Average of monthly cash balances.......................
    1b
    413,948
    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
    12,758,388
    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
    12,758,388
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    191,376
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    12,567,012
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    628,351
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    628,351
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    7,875
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,875
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    620,476
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    620,476
    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
    620,476
    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
    940,154
    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
    940,154
    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
    7,875
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    932,279
    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 7 620,476
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2011:
    a From 2006....... 301,119
    b From 2007....... 198,918
    c From 2008....... 217,663
    d From 2009....... 348,620
    e From 2010....... 363,796
    fTotal of lines 3a through e......... 1,430,116
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 940,154
    a Applied to 2010, but not more than line 2a 0
    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..... 620,476
    e Remaining amount distributed out of corpus 319,678
    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 1,749,794
    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 ..........     		0
    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) .............     		301,119
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		1,448,675
    10 Analysis of line 9:
    a Excess from 2007.... 198,918
    b Excess from 2008.... 217,663
    c Excess from 2009.... 348,620
    d Excess from 2010.... 363,796
    e Excess from 2011.... 319,678
    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:
    MARTHA H PEAK VICE PRESIDENT AND GR
    OTTO AND FRAN WALTER FOUNDATION 7
    OAK STREET
    BOOTHBAY HARBOR,ME04538
    (207) 633-7300
    bThe form in which applications should be submitted and information and materials they should include:
    E-MAIL TO GRANTS@WALTERFOUNDATION.ORG REQUESTING FOUNDATION'S GUIDELINES FOR GIVING BEFORE SUBMITTING GRANT REQUEST.
    cAny submission deadlines:
    APPLICATIONS CONTINUOUSLY ACCEPTED THROUGHOUT YEAR.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE FOUNDATION DOES NOT MAKE GRANTS TO INDIVIDUALS OR TO ANY PROGRAM OR ORGANIZATION THAT HAS A PURELY RELIGIOUS OR ETHNIC AGENDA OR THAT DISCRIMINATES BASED ON SEX OR SEXUAL ORIENTATION.
    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
    MT OLIVE AME CHURCH
    600 JONES STREET
    CLEARWATER,FL33755     		N/A PUBLIC CHARITY TO REPLACE FOOD PANTRY FLOOR 68,000
    MUSKINGUM COLLEGE
    163 STORMONT STREET
    NEW CONCORD,OH43762     		N/A PUBLIC CHARITY DONATION OF PAINTING OF THE WALTERS TO BE HUNG IN WALTER HALL AT COST 40,000
    UNIVERSITY SETTLEMENT SOCIETY
    184 ELDRIDGE STREET
    NEW YORK,NY10002     		N/A PUBLIC CHARITY CREATIVE AGING 2011 65,000
    COOPERATIVE FOR EDUCATION
    2730 HYDE PARK AVENUE
    CINCINNATI,OH45209     		N/A PUBLIC CHARITY TO SUPPORT THE CULTURE OF READING PROGRAM 25,000
    EUROPEAN UNION STUDIES CENTER THE GRADUATE CENTER FOUNDATION
    365 FIFTH AVENUE
    NEW YORK,NY10016     		N/A PUBLIC CHARITY GENERAL CHARITABLE PURPOSES 100,000
    FED ASSOC INFO & ADVICE FOR NAZI VICTIM
    HOLWEIDER STR 13-15
    COLOGNE   51065
    GM     		N/A PUBLIC CHARITY TO AID NAZI VICTIMS; TO OBTAIN GOV'T BENEFITS 10,000
    FRIENDS OF THE JEWISH MUSEUM BERLIN
    227 RIDGEVIEW ROAD
    PRINCETON,NJ08540     		N/A PUBLIC CHARITY TO FUND A TEMPORARY ARCHIVAL POSITION 10,000
    MANNES COLLEGE OF MUSIC
    150 WEST 85TH STREET
    NEW YORK,NY10024     		N/A PUBLIC CHARITY TO FUND CONCERTS IN NURSING HOMES, SENIOR CENTERS AN 28,500
    METROPOLITAN OPERA NYC
    LINCOLN CENTER
    NEW YORK,NY10023     		N/A PUBLIC CHARITY GENERAL CHARITABLE PURPOSES 7,000
    MUSKINGUM COLLEGE
    163 STORMONT STREET
    NEW CONCORD,OH43762     		N/A PUBLIC CHARITY TO SUPPORT CONSTRUCTION OF NEW BUILDING FOR MUSIC 326,500
    Total .................................bullet 3a 680,000
    bApproved for future payment
    UNIVERSITY SETTLEMENT SOCIETY
    184 ELDRIDGE STREET
    NEW YORK,NY10002     		N/A PUBLIC CHARITY CREATIVE AGING 2011 130,000
    ASSOCIATION OF ISRAELIS CENTRAL EUROPEAN ORIGIN
    15 RAMBAN STREET
    TEL AVIV   61014
    IS     		N/A PUBLIC CHARITY GENERAL CHARITABLE PURPOSES 324
    Total .................................bullet 3b 130,324
    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          
    4 Dividends and interest from securities....     14 341,213  
    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     18 562,111  
    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).. 0 903,324 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13903,324
    (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 AccountingFeesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    QUARTERLY ACCOUNTING 6,675 3,338   3,337
    PREPARATION OF FINANCIAL STMTS 4,375 2,188   2,187
    TAX REPORT SERVICES 4,550 2,275   2,275

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2011 DepreciationSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    FURNITURE 2004-09-01 3,177 2,875 SL 7.000000000000 302 0    
    COMPUTERS 2005-06-14 2,127 2,127 SL 5.000000000000 0 0    
    FURNITURE 2005-03-03 1,122 934 SL 7.000000000000 160 0    
    EQUIPMENT 2006-07-01 3,024 2,722 SL 5.000000000000 302 0    
    FURNITURE & FIXTURES 2007-07-01 8,049 4,025 SL 7.000000000000 1,150 0    
    OFFICE EQUIPMENT 2007-07-01 1,091 763 SL 5.000000000000 218 0    
    FURNITURE & FIXTURES 2008-02-06 1,470 613 SL 7.000000000000 210 0    
    COMPUTERS 2008-05-07 1,593 850 SL 5.000000000000 319 0    
    DRIVEWAY 2008-11-17 9,300 1,292 SL 15.000000000000 620 0    
    FILING CABINET 2009-03-27 1,102 275 SL 7.000000000000 157 0    
    COMPUTERS 2010-11-16 4,501 75 SL 5.000000000000 900 0    
    COMPUTERS 2011-11-28 5,368   SL 5.000000000000 89 0    

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Name of Bond End of Year Book Value End of Year Fair Market Value
    250,000 GE CAPITAL 5.4% DUE 02/15/2017 250,629 278,960
    150,000 GOLDMAN SACHS 5.25% DUE 10/15/2013 150,964 153,453
    100,000 HONEYWELL 5.3% DUE 03/01/2018 105,871 118,144
    150,000 IBM 5.7% DUE 09/14/2017 154,683 181,720
    150,000 ORACLE 5% DUE 07/08/2019 156,217 176,110
    150,000 TARGET CORPORATION 5.875% DUE 07/15/2016 154,176 178,502
    150,000 JP MORGAN CHASE 6% DUE 01/15/2018 159,902 168,073
    100,000 MEDTRONIC 4.75% DUE 09/15/2015 105,391 112,687
    125,000 FRANKLIN RESOURCES 3.125% DUE 05/20/2015 130,600 129,975
    100,000 TN VLY AUTH 4.375% DUE 06/15/2015 107,027 112,008
    150,000 MCDONALDS CORP 3.5% DUE 07/15/2020 151,920 161,959
    100,000 LOWES COMPANIES 3.75% DUE 04/15/2021 104,116 103,503
    100,000 TENN VALLEY AUT 3.875% DUE 02/15/2021 111,757 113,785

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Name of Stock End of Year Book Value End of Year Fair Market Value
    1,425 A T & T 37,324 43,092
    1,700 AMERIPRISE FINANCIAL INC. 74,510 84,388
    2,140 AMERN FINANCIAL GROUP 63,251 78,945
    73 AMGEN INCORPORATED 4,532 4,687
    840 APPLE INC 181,654 340,200
    2,250 ATMOS ENERGY CORP 61,392 75,038
    160 AUTOZONE INC 25,198 51,995
    3,380 BRISTOL-MYERS SQUIBB CO 91,723 119,111
    3,700 CBS CORPORATION CL B NEW 49,952 100,418
    1,050 CAPITAL ONE FINANCE 49,430 44,405
    2,204 CHEVRON TEXACO COR 158,038 234,506
    8,210 CISCO SYSTEMS INC 145,526 148,437
    1,637 CITIGROUP INC 73,018 43,069
    3,850 CMS ENERGY CORP 70,540 85,008
    1,440 COACH INC 60,181 87,898
    2,090 CONOCOPHILLIPS 149,966 152,298
    600 CUMMINS INC 30,006 52,812
    810 DEVON ENERGY CP NEW 58,050 50,220
    2,090 DR PEPPER SNAPPLE CO 61,776 82,513
    3,315 EXXON MOBIL CORP 165,894 280,979
    7,535 GENERAL ELECTRIC CO 144,738 131,191
    2,460 GILEAD SCIENCES INC 102,581 100,688
    310 GOOGLE INC CLASS A 170,075 200,229
    2,870 HEWLETT-PACKARD CO 70,392 73,931
    2,440 HONEYWELL INTERNATIONAL 116,805 132,614
    5,610 INTEL CORP 110,730 136,043
    1,135 INTERNATIONAL BUSINESS MACHINES CORP 116,381 208,704
    1,330 J B HUNT TRANSPORT SVCS 44,639 59,943
    1,940 JOHNSON & JOHNSON 123,235 127,225
    2,040 JPMORGAN CHASE & CO 80,579 67,830
    1,850 LIMITED BRANDS INC 62,210 74,647
    3,110 MACYS INC FKA FEDERATED DEPT STORES INC 74,036 100,080
    3,210 MARATHON OIL CORP 74,728 93,957
    710 MCDONALDS CORP 36,574 71,234
    8,060 MICROSOFT CORP 232,787 209,238
    1,110 PARKER-HANNIFIN CORP 86,422 84,637
    1,030 P P G INDUSTRIES INC 71,006 85,995
    650 PROCTER AND GAMBLE 41,592 43,361
    870 SIMON PROPERTY GROUP NEW REIT 99,006 112,178
    1,550 TRAVELERS COMPANIES INC 85,759 91,713
    2,350 UNITEDHEALTH GROUP INC 85,100 119,098
    1,950 VERIZON COMMUNICATIONS 66,860 78,234
    770 WATERS CORP 49,584 57,018
    1,460 WATSON PHARMACEUTICALS 62,875 88,096
    730 ACCENTURE PLC CL A F 39,371 38,858
    6,640 ACTIVISION BLIZZARD INC 71,645 81,805
    610 AIRGAS INC 39,622 47,629
    1,300 ALASKA AIR GROUP INC DE 79,453 97,617
    480 BIOGEN IDEC INC 43,336 52,824
    710 CABOT OIL & GAS 39,682 53,889
    1,530 CELGENE CORP 92,023 103,428
    4,390 CENTERPOINT ENERGY INC 83,019 88,195
    1,390 CHUBB CORPORATION 83,705 96,216
    2,130 DIRECTV CL A 105,094 91,079
    3,560 DISCOVER FINANCIAL SVCS 91,397 85,440
    3,310 FOOT LOCKER 66,769 78,910
    400 FOSSIL INC 38,813 31,744
    1,330 HELMERICH & PAYNE INC 85,023 77,619
    810 HERSHEY COMPANY 40,204 50,042
    3,330 HOME DEPOT 108,567 139,993
    2,550 KBR INC 78,750 71,069
    11,330 KEYCORP INC NEW 81,461 87,128
    1,620 KOHLS CORP 84,265 79,947
    2,290 KRAFT FOODS INC 80,525 85,554
    1,310 M&T BANK CORPORATION 114,108 100,005
    805 MARATHON PETE CORP 21,034 26,798
    290 MASTERCARD INC 97,891 108,118
    1,130 MCKESSON CORPORATION 89,643 88,038
    110 N V R INC 79,417 75,460
    1,540 NASDAQ OMX GROUP INC 39,109 37,745
    690 NATIONAL OILWELL VARCO 46,779 46,913
    1,100 NIKE INC CLASS B 103,250 106,007
    2,760 ORACLE CORPORATION 87,732 70,794
    5,450 PFIZER INCORPORATED 110,374 117,938
    2,300 PHILIP MORRIS INTL INC 160,651 180,504
    1,070 PUB SVC ENT GROUP INC 33,939 35,321
    6,460 SYMANTEC CORP 115,247 101,099
    4,420 TECO ENERGY INC 84,055 84,599
    2,060 TYCO INTL LTD NEW 86,348 96,223
    1,610 UNITED TECHNOLOGIES CORP 123,215 117,675
    2,310 VERISIGN INC 81,360 82,513
    2,630 WESTERN DIGITAL CORP 81,474 81,399
    1,130 WYNDHAM WORLDWIDE CORP 38,035 42,748

    TY 2011 InvestmentsGovtObligationsSch
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    US Government Securities - End of Year Book Value:

    2,383,174
    US Government Securities - End of Year Fair Market Value:

    2,686,749
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2011 LandEtcSchedule2
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    FURNITURE 3,177 3,177   0
    COMPUTERS 2,127 2,127   0
    FURNITURE 1,122 1,094 28 0
    EQUIPMENT 3,024 3,024   0
    FURNITURE & FIXTURES 8,049 5,175 2,874 0
    OFFICE EQUIPMENT 1,091 981 110 0
    FURNITURE & FIXTURES 1,470 823 647 0
    COMPUTERS 1,593 1,169 424 0
    DRIVEWAY 9,300 1,912 7,388 0
    FILING CABINET 1,102 432 670 0
    COMPUTERS 4,501 975 3,526 0
    COMPUTERS 5,368 89 5,279 0


    TY 2011 OtherAssetsSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SECURITY DEPOSIT - RENT 960 960 960
    ACCRUED INVESTMENT INCOME 41,978 44,172 44,172
    PAINTING 20,000 0 0


    TY 2011 OtherExpensesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TEL, COMPUTER & INTERNET 6,778 1,695   5,083
    INSURANCE 1,574 394   1,180
    OFFICE & POSTAGE 8,590 2,147   6,443
    DUES,FEES & PERMITS 3,457 0   3,457


    TY 2011 OtherIncreasesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Description Amount
    ACCRUED GRANTS PAID 400,000


    TY 2011 OtherProfessionalFeesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVICE 75,405 37,703   37,911


    TY 2011 TaxesSchedule
    Name:
    OTTO AND FRAN WALTER FOUNDATION INC
    EIN: 13-1625529
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE 7,875 0   0
    PAYROLL 13,193 3,298   9,895