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
2010
For calendar year 2010, or tax year beginning 12-01-2010 , and ending 11-30-2011
G
Check all that apply:
Name of foundation
THE HAROLD & MARY LOUISE SHAW FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)1 SOUTH NEVADA SUITE 200   Room/suite
City or town, state, and ZIP code
COLORADO SPRINGS, CO80903
A Employer identification number

31-1577890
B Telephone number (see page 10 of the instructions)

(719) 228-1080
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$29,819,538J 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) 4,807,003
2 Check bullet
3 Interest on savings and temporary cash investments 23,033 20,021  
4 Dividends and interest from securities...... 286,992 286,992  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,903,907
b Gross sales price for all assets on line 6a 24,978,585
7 Capital gain net income (from Part IV, line 2)... 3,903,907
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment -67,299 -80,513  
12 Total. Add lines 1 through 11........ 8,953,636 4,130,407  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 169,251 169,251   0
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 25,992 3,758   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 2,125 39   2,086
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 197,368 173,048   2,086
25 Contributions, gifts, grants paid........ 792,750 792,750
26 Total expenses and disbursements. Add lines 24 and 25 990,118 173,048   794,836
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 7,963,518
b Net investment income (if negative, enter -0-) 3,957,359
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 (2010)
Form 990-PF (2010)
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...............      
2 Savings and temporary cash investments.......... 3,059,621 3,307,492 3,307,492
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 325,213 Click to see attachment0 0
b Investments—corporate stock (attach schedule)........ 14,917,773 Click to see attachment0 0
c Investments—corporate bonds (attach schedule)........ 5,145,760 Click to see attachment0 0
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 0 Click to see attachment28,124,232 26,512,046
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 23,448,367 31,431,724 29,819,538
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 25,500 25,500
29 Retained earnings, accumulated income, endowment, or other funds 23,422,867 31,406,224
30 Total net assets or fund balances (see page 17 of the
instructions).................... 23,448,367 31,431,724
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 23,448,367 31,431,724
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 23,448,367
2 Enter amount from Part I, line 27a...................... 2 7,963,518
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 19,839
4 Add lines 1, 2, and 3.......................... 4 31,431,724
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 31,431,724
Form 990-PF (2010)
Form 990-PF (2010)
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 * CALL EEM 01/22/11 43 ISHARES MSCI EM P 2009-10-31 2010-12-23
b * CALL EEM 01/22/11 51 ISHARES MSCI EM P 2009-10-31 2010-12-23
c * CALL EFA 01/22/11 64 ISHS MSCI EAFE P 2009-10-31 2010-12-23
d * CALL IWM 01/22/11 59 ISHARES RUSSELL P 2009-10-31 2010-12-22
e * CALL IWM 01/22/11 59 ISHARES RUSSELL P 2009-10-31 2010-12-09
* CALL MDY 01/22/11 135 STANDARD & POORS MIDCAP 400 P 2009-10-31 1920-12-16
* CALL SPY 12/17/11 160 STANDARD & POORS DEPOSITORY P 2009-10-31 2010-12-23
* CALL UNG 01/22/11 7 UNITED STATES N P 2009-10-31 2010-12-23
* CALL UNG 01/22/11 10 UNITED STATES N P 2009-10-31 2010-12-23
* CALL UNG 01/22/11 21 UNITED STATES N P 2009-10-31 2010-12-23
* PUT EEM 01/22/11 34 ISHARES MSCI EM P 2009-10-31 2010-12-23
* PUT EEM 01/22/11 40 ISHARES MSCI EM P 2009-10-31 2010-12-23
* PUT EFA 01/22/11 46 ISHS MSCI EAFE P 2009-10-31 2010-12-23
* PUT EFA 01/22/11 55 ISHS MSCI EAFE P 2009-10-31 2010-12-23
* PUT SPY 12/17/11 95 STANDARD & POOR P 2009-10-31 2010-12-23
* PUT SPY 12/17/11 110 STANDARD & POOR P 2009-11-13 2010-12-23
* PUT UNG 01/22/11 6 UNITED STATES N P 2009-10-31 2010-12-23
** EXPIRED OPTION - CALL EEM 01/22/11 43 ISHARES MSCI EM P 2009-10-31 2010-12-21
** EXPIRED OPTION - PUT EEM 01/22/11 25 ISHARES MSCI EM P 2009-10-31 2011-01-24
** EXPIRED OPTION - PUT EEM 01/22/11 31 ISHARES MSCI EM P 2009-10-31 2011-01-24
** EXPIRED OPTION - PUT IWM 01/22/11 39 ISHARES RUSSELL P 2009-10-31 2011-01-24
** EXPIRED OPTION - PUT IWM 01/22/11 49 ISHARES RUSSELL P 2009-10-31 2011-01-24
** EXPIRED OPTION - PUT MDY 01/22/11 85 STANDARD & POOR P 2009-10-31 2011-01-24
** EXPIRED OPTION - PUT MDY 01/22/11 105 STANDARD & POOR P 2009-10-31 2011-01-24
** FROM PASS-THROUGH SEC 1256 CONTRACTS & STRADDLES P 2011-11-30 2011-11-30
** FROM PASSTHROUGH - CORDUNDUM INCOME FD P 2011-11-30 2011-11-30
** FROM PASSTHROUGH - CORDUNDUM INCOME FD P 2011-11-30 2011-11-30
** FROM PASSTHROUGH - CORUNDUM SM/MID-CAP GROWTH FD P 2011-11-30 2011-11-30
** FROM PASSTHROUGH - CORUNDUM SM/MID-CAP GROWTH FD P 2011-11-30 2011-11-30
** FROM PASSTHROUGH - CORUNDUM SM/MID-CAP VALUE FD P 2011-11-30 2011-11-30
** FROM PASSTHROUGH - CORUNDUM SM/MID-CAP VALUE FD P 2011-11-30 2011-11-30
3M CO P 2010-08-02 2011-05-19
ABBOTT LABORATORIES P 2009-10-31 2011-05-19
ACCENTURE PLC IRELAND SHS CL A P 2009-10-31 2011-05-19
ALLSTATE CORP P 2009-10-31 2011-05-19
AMERICAN CENTURY INTERNATIONAL BOND INVE P 2010-03-12 2010-12-27
AMERICAN CENTURY INTERNATIONAL BOND INVE P 2010-12-16 2010-12-27
AMERICAN CENTURY INTERNATIONAL BOND INVE P 2010-12-16 2010-12-27
AMERICAN EXPRESS COMPANY P 2010-04-09 2011-05-19
APACHE CORP P 2009-10-31 2011-05-19
AT&T INC P 2010-03-08 2011-05-19
AT&T INC P 2009-10-31 2011-05-19
BARCLAYS BK PLC BUFFER NT LKD 11 P 2009-10-31 2011-05-20
BRISTOL MYERS SQUIBB CO P 2010-03-08 2011-05-19
CHEVRON CORPORATION P 2009-10-31 2011-05-19
CONOCOPHILLIPS P 2010-08-02 2011-05-19
COSTCO WHOLESALE CORP-NEW P 2009-10-31 2011-05-19
CREDIT SUISSE COMMODITY RETURN PLUS STRA P 2009-10-31 2010-12-27
CREDIT SUISSE COMMODITY RETURN PLUS STRA P 2010-12-20 2010-12-27
CREDIT SUISSE COMMODITY RETURN PLUS STRA P 2010-12-23 2010-12-27
DUKE ENERGY CORPORATION (HOLDING COMPANY) P 2009-10-31 2011-05-19
EXXON MOBIL CORP P 2010-04-09 2011-05-19
EXXON MOBIL CORP P 2009-10-31 2011-05-19
FEDEX CORP P 2009-10-31 2011-05-19
FIDELITY ADVISOR INTL DISCOVERY CLASS A P 2010-12-31 2011-05-19
FIDELITY ADVISOR INTL DISCOVERY CLASS A P 2009-10-31 2011-05-19
FIDELITY ADVISOR INTL DISCOVERY CLASS A P 2009-10-31 2011-05-19
FIDELITY ADVISOR INTL DISCOVERY CLASS A P 2009-12-07 2011-05-19
FIRST AMERICAN REAL ESTATE SECURITIES FU P 2010-03-12 2010-12-27
FIRST AMERN INVT FDS INC HIGH INCOME BON P 2010-03-12 2010-12-27
FIRST AMERN INVT FDS INC INTL SELECT FD P 2010-05-05 2010-12-27
FIRST AMERN INVT FDS INC SMALL CAP SELEC P 2009-10-31 2010-12-27
GENERAL DYNAMICS CORP P 2009-10-31 2011-05-19
GENERAL ELECTRIC CO P 2009-10-31 2011-05-19
GENERAL MILLS INC P 2004-03-01 2011-05-19
GENERAL MILLS INC P 2009-12-22 2011-05-19
GOLDMAN SACHS GROUP INC P 2009-10-31 2011-05-19
HEWLETT PACKARD CO P 2009-10-31 2011-05-19
HUNTINGTON INGALLS INDUSTRIES P 2009-10-31 2011-05-19
HUNTINGTON INGALLS INDUSTRIES INC P 2004-03-01 2011-05-19
INTEL CORP P 2009-10-31 2011-05-19
INTERNATIONAL BUSINESS MACHINES CORP P 2009-10-31 2011-05-19
ISHARES TRUST MSCI EAFE INDEX FUND P 2009-10-31 2011-05-19
ISHARES TRUST MSCI EAFE INDEX FUND P 2009-10-31 2011-05-19
ISHARES TRUST MSCI EMERGING MARKETS INDEX P 2009-10-31 2010-12-21
ISHARES TRUST MSCI EMERGING MARKETS INDEX P 2009-10-31 2011-05-19
ISHARES TRUST RUSSELL 2000 INDEX FD P 2009-10-31 2010-12-21
ISHARES TRUST RUSSELL 2000 INDEX FD P 2009-10-31 2010-12-06
JOHNSON & JOHNSON P 2009-10-31 2011-05-19
JPMORGAN CHASE & CO P 2009-10-31 2011-05-19
JPMORGAN CHASE & CO BUFFERED RTN ENHNCD NTS LKD TO THE ISHARES MSCI EAF P 2009-10-31 2011-05-20
KELLOGG CO P 2010-08-02 2011-05-19
KIMBERLY CLARK CORP P 2010-08-02 2011-05-19
MCDONALDS CORP P 2009-10-31 2011-05-19
MEDTRONIC INC P 2009-10-31 2011-05-19
MICROSOFT CORP P 2009-10-31 2011-05-19
NORTHROP GRUMMAN CORP P 2009-10-31 2011-05-19
PEPSICO INC P 2009-12-22 2011-05-19
PEPSICO INC P 2009-10-31 2011-05-19
PFIZER INC P 2009-10-31 2011-05-19
PIMCO TOTAL RETURN FUND P 2010-12-09 2011-04-28
PIMCO TOTAL RETURN FUND INSTL CL P 2009-10-31 2011-05-19
PIMCO TOTAL RETURN FUND INSTL CL P 2011-01-04 2011-05-19
PIMCO TOTAL RETURN FUND INSTL CL P 2011-02-02 2011-05-19
PIMCO TOTAL RETURN FUND INSTL CL P 2011-03-02 2011-05-19
PIMCO TOTAL RETURN FUND INSTL CL P 2011-04-04 2011-05-19
PIMCO TOTAL RETURN FUND INSTL CL P 2011-05-03 2011-05-19
PITNEY BOWES INC P 2009-10-31 2011-05-19
PROCTER & GAMBLE CO P 2009-10-31 2011-05-19
ROWE T PRICE FD GROWTH & INCOME FD ADVIS P 2010-12-20 2011-05-19
ROWE T PRICE FD GROWTH & INCOME FD ADVIS P 2009-12-17 2011-05-19
ROWE T PRICE FD GROWTH & INCOME FD ADVIS P 2009-10-31 2011-05-19
ROWE T PRICE MID-CAP VALUE FUND ADVISOR P 2009-10-31 2011-05-19
ROWE T PRICE MID-CAP VALUE FUND ADVISOR P 2010-12-16 2011-05-19
ROYAL BANK OF CANADA COMMODITY LINKED NOTES #50 P 2009-10-31 2011-05-20
SPDR S&P 500 ETF TR UNIT SER I S&P DEPOSIT P 2009-11-13 2011-05-19
STANDARD & POORS MIDCAP 400 P 2009-10-31 2010-12-16
T ROWE PRICE INTL FUNDS INC INTL BD FUND P 2010-03-12 2011-05-19
T ROWE PRICE INTL FUNDS INC INTL BD FUND P 2010-12-20 2011-05-19
T ROWE PRICE INTL FUNDS INC INTL BD FUND P 2011-01-04 2011-05-19
T ROWE PRICE INTL FUNDS INC INTL BD FUND P 2011-02-02 2011-05-19
T ROWE PRICE INTL FUNDS INC INTL BD FUND P 2011-03-02 2011-05-19
T ROWE PRICE INTL FUNDS INC INTL BD FUND P 2011-04-04 2011-05-19
T ROWE PRICE INTL FUNDS INC INTL BD FUND P 2011-05-03 2011-05-19
TARGET CORP P 2009-10-31 2011-05-19
TEXAS INSTRUMENTS INC P 2009-10-31 2011-05-19
U S TREASURY INFLATION INDEX P 2009-11-30 2011-05-19
UNITED STATES NATURAL GAS FUND LP ETF P 2009-10-31 2010-12-27
UNITED STATES TREASURY NOTE 10 YR INFLATION INDEXED NOTES P 2009-11-30 2011-05-19
UNITED STATES TREASURY NOTE 10-YR INFLATION INDEXED NOTE P 2009-11-30 2011-05-19
UNITED TECHNOLOGIES CORP P 2009-10-31 2011-05-19
VERIZON COMMUNICATIONS P 2009-10-31 2011-05-19
WALGREEN CO P 2009-10-31 2011-05-19
WELLS FARGO & CO P 2009-10-31 2011-05-19
CAPITAL GAINS DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 10,772   23,940 -13,168
b 38,062   976 37,086
c 35,374   350 35,024
d 20,576     20,576
e 15,522     15,522
19,295     19,295
8,351   2,784 5,567
2,000   99,014 -97,014
6,219   389 5,830
64,570   389 64,181
90,521   471 90,050
1,464   163,237 -161,773
63,534   528 63,006
6,688   133,585 -126,897
91,869   25,404 66,465
49,850   149,988 -100,138
18,672   15,176 3,496
15,389     15,389
49,111     49,111
    92,413 -92,413
43,098     43,098
    88,901 -88,901
27,575     27,575
    56,664 -56,664
    66,921 -66,921
    17 -17
    1,083 -1,083
3,235     3,235
1,489     1,489
104     104
    1,814 -1,814
236,176   216,815 19,361
79,891   60,817 19,074
352,206   162,957 189,249
74,107   109,974 -35,867
492,199   500,000 -7,801
306   309 -3
2,674   2,699 -25
362,115   301,534 60,581
487,995   126,788 361,207
222,368   177,429 44,939
156,597   188,150 -31,553
1,152,500   1,000,000 152,500
207,728   178,631 29,097
413,396   181,962 231,434
289,445   218,200 71,245
66,751   26,448 40,303
444,298   552,803 -108,505
31,247   30,324 923
2,240   2,223 17
110,526   101,733 8,793
262,567   217,558 45,009
262,567   111,099 151,468
160,430   143,136 17,294
1,453   1,408 45
787,811   808,970 -21,159
3,782   3,621 161
1,038   933 105
1,542,373   1,300,000 242,373
396,019   380,000 16,019
284,644   255,000 29,644
408,180   417,549 -9,369
73,902   54,155 19,747
159,285   289,238 -129,953
159,290   137,805 21,485
159,290   137,805 21,485
69,939   91,543 -21,604
86,713   102,120 -15,407
27     27
10,206     10,206
227,373   236,294 -8,921
238,365   113,840 124,525
245,022   300,080 -55,058
1,078,095   965,184 112,911
386,993   328,112 58,881
1,450,458   1,119,226 331,232
336,294   279,528 56,766
253,696   210,872 42,824
231,311   194,036 37,275
171,052   169,363 1,689
1,115,500   1,000,000 115,500
234,317   212,000 22,317
238,711   225,645 13,066
247,258   103,860 143,398
85,680   92,265 -6,585
49,379   55,240 -5,861
103,760   101,408 2,352
143,225   120,715 22,510
143,225   107,751 35,474
96,226   158,970 -62,744
15,130   14,828 302
303,575   300,000 3,575
553   544 9
807   793 14
836   824 12
870   857 13
868   867 1
853,103   46,373 806,730
282,578   209,671 72,907
11,835   10,913 922
936   807 129
580,291   510,447 69,844
477,247   483,266 -6,019
7,237   6,571 666
925,125   750,000 175,125
1,168,222   948,300 219,922
485,992   387,504 98,488
527,152   500,000 27,152
9,248   8,709 539
803   775 28
923   891 32
945   920 25
1,068   1,044 24
1,091   1,112 -21
60,049   49,365 10,684
160,322   106,859 53,463
126,294   107,933 18,361
215,502   212,525 2,977
124,894   105,562 19,332
129,731   111,717 18,014
263,905   116,323 147,582
126,595   142,824 -16,229
105,862   109,559 -3,697
228,084   215,826 12,258
7,351     7,351
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       -13,168
b       37,086
c       35,024
d       20,576
e       15,522
      19,295
      5,567
      -97,014
      5,830
      64,181
      90,050
      -161,773
      63,006
      -126,897
      66,465
      -100,138
      3,496
      15,389
      49,111
      -92,413
      43,098
      -88,901
      27,575
      -56,664
      -66,921
      -17
      -1,083
      3,235
      1,489
      104
      -1,814
      19,361
      19,074
      189,249
      -35,867
      -7,801
      -3
      -25
      60,581
      361,207
      44,939
      -31,553
      152,500
      29,097
      231,434
      71,245
      40,303
      -108,505
      923
      17
      8,793
      45,009
      151,468
      17,294
      45
      -21,159
      161
      105
      242,373
      16,019
      29,644
      -9,369
      19,747
      -129,953
      21,485
      21,485
      -21,604
      -15,407
      27
      10,206
      -8,921
      124,525
      -55,058
      112,911
      58,881
      331,232
      56,766
      42,824
      37,275
      1,689
      115,500
      22,317
      13,066
      143,398
      -6,585
      -5,861
      2,352
      22,510
      35,474
      -62,744
      302
      3,575
      9
      14
      12
      13
      1
      806,730
      72,907
      922
      129
      69,844
      -6,019
      666
      175,125
      219,922
      98,488
      27,152
      539
      28
      32
      25
      24
      -21
      10,684
      53,463
      18,361
      2,977
      19,332
      18,014
      147,582
      -16,229
      -3,697
      12,258
      7,351
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 3,903,907
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))
2009 845,833 24,420,529 0.034636
2008 718,486 11,949,388 0.060127
2007 725,117 12,792,167 0.056684
2006 684,432 13,190,529 0.051888
2005 570,000 10,934,129 0.052130
2 Total of line 1, column (d) ...................... 2 0.255465
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 0.051093
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 28,129,935
5 Multiply line 4 by line 3....................... 5 1,437,243
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 39,574
7 Add lines 5 and 6......................... 7 1,476,817
8 Enter qualifying distributions from Part XII, line 4.............. 8 794,836
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 (2010)
Form 990-PF (2010)
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 79,147
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 79,147
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 79,147
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a  
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 110,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 110,000
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 772
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 30,081
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet30,081 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)bulletOH, CO
    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 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletSTOCKMAN KAST RYAN CO Telephone no.bullet (719) 630-1186
    Located atbullet102 N CASCADE AVE SUITE 400COLORADO SPRINGSCO ZIP+4bullet80903
    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 2010, 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 (2010)
    Form 990-PF (2010)
    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 2010?.............
    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 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    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 2010 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 2010.)....................
    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 2010?
    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 (2010)
    Form 990-PF (2010)
    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
    SALLY LOUISE VEITCH VICE PRESIDENT & ASST. TRE
    1.00     		0 0 0
    3280 WADE CT
    COLORADO SPRINGS,CO809175832
    FREDERICK A VEITCH III VICE PRESIDENT
    0.50     		0 0 0
    868 OAK HILL ROAD
    NORTH YARMOUTH,ME04097
    ROBERT D VEITCH PRESIDENT
    1.00     		0 0 0
    1176 HERNAGE CREEK ROAD
    EAGLE,CO81631
    JOHN CHRISTOPHER SECRETARY
    0.50     		0 0 0
    DINSMORE SHOHL LLP 225 EAST FIFTH
    ST STE 1900
    CINCINNATI,OH45202
    HEATHER K VEITCH TRUSTEE
    0.00     		0 0 0
    1 SOUTH NEVADA SUITE 200
    COLORADO SPRINGS,CO80903
    KELLY A VEITCH TRUSTEE
    0.00     		0 0 0
    1 SOUTH NEVADA SUITE 200
    COLORADO SPRINGS,CO80903
    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
    CB&T WEALTH MANAGEMENT INVESTMENT ADVISORY SERVICES 139,096
    1 SOUTH NEVADA AVENUE SUITE 200
    COLORADO SPRINGS,CO80903
    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 (2010)
    Form 990-PF (2010)
    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
    25,188,173
    b
    Average of monthly cash balances.......................
    1b
    3,370,137
    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
    28,558,310
    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
    28,558,310
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    428,375
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    28,129,935
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    1,406,497
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,406,497
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    79,147
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    79,147
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,327,350
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    1,327,350
    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
    1,327,350
    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
    794,836
    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
    794,836
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    794,836
    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 (2010)
    Form 990-PF (2010)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2009     		(c)
    2009     		(d)
    2010
    1 Distributable amount for 2010 from Part XI, line 7 1,327,350
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2010:
    a From 2005.......  
    b From 2006.......  
    c From 2007.......  
    d From 2008....... 99,006
    e From 2009.......  
    fTotal of lines 3a through e......... 99,006
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 794,836
    a Applied to 2009, 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 2010 distributable amount..... 794,836
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2010. 99,006 99,006
    (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 2009. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		0
    f Undistributed income for 2010. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		433,508
    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 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		0
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2006....  
    b Excess from 2007....  
    c Excess from 2008....  
    d Excess from 2009....  
    e Excess from 2010....  
    Form 990-PF (2010)
    Form 990-PF (2010)
    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 2010, 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) 2010 (b) 2009 (c) 2008 (d) 2007
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2010)
    Form 990-PF (2010)
    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
    CHEYENNE MOUNTAIN ZOO
    4250 CHEYENNE MOUNTAIN ZOO ROAD
    COLORADO SPRINGS,CO80906     		PUBLIC CHARITY   NONE 307,500
    317 MAIN ST COMMUNITY CENTER
    317 MAIN ST
    YARMOUTH,ME04096     		PUBLIC CHARITY   NONE 100,000
    VAIL VALLEY MEDICAL CENTER
    181 W MEADOW DRIVE
    VAIL,CO81657     		PUBLIC CHARITY   NONE 75,000
    DAYTON ART INSTITUTE
    456 BELMONTE PARK NORTH
    DAYTON,OH45405     		PUBLIC CHARITY   NONE 60,000
    RIPPLE EFFECT
    PO BOX 441
    PORTLAND,ME04112     		PUBLIC CHARITY   NONE 50,000
    FRIENDS OF CASCO BAY
    43 SLOCUM DRIVE
    PORTLAND,ME04106     		PUBLIC CHARITY   NONE 50,000
    TETON VALLEY HOSPITAL
    120 E HOWARD AVE
    DRIGGS,ID83422     		PUBLIC CHARITY   NONE 40,000
    MIDCOAST SYMPHONY ORCHESTRA
    PO BOX 86
    BRUNSWICK,ME04011     		PUBLIC CHARITY   NONE 40,000
    VAIL VALLEY CHARITABLE FUND
    181 W MEADOW DRIVE
    VAIL,CO81657     		PUBLIC CHARITY   NONE 25,000
    ROUND UP RIVER RANCH
    10 W BEAVER CREEK BOULEVARD SUITE
    250
    AVON,CO81620     		PUBLIC CHARITY   NONE 25,000
    UNIVERSITY OF COLORADO COLORADO SPRINGS
    1420 AUSTIN BLUFFS PKWY
    COLORADO SPRINGS,CO80918     		PUBLIC CHARITY   NONE 20,000
    SONNELALP OF VAIL FOUNDATION
    20 VAIL ROAD
    VAIL,CO81657     		PUBLIC CHARITY   NONE 250
    Total .................................bullet 3a 792,750
    bApproved for future payment
    Total ..................................bullet 3b 0
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 23,033  
    4 Dividends and interest from securities....     14 286,992  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory     18 3,903,907  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aPASS-THROUGH FROM UNG - PUBLICLY TRADED PARTNERHSHIP     14 -1,731  
    bPASS-THROUGH FROM UNG - PUBLICLY TRADED PARTNERHSHIP     14 -80,513  
    cMISCELLANEOUS INCOME     14 14,945  
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 4,146,633 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    134,146,633
    (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 (2010)
    Form 990-PF (2010)
    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 (2010)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    OMB No. 1545-0047
    2010
    Name of organization
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
     
    Employer identification number

    31-1577890
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule—
    Special Rules
    ......................... Arrow Bullet   $    
    Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
    Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part I
    Name of organization
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
          		Employer identification number

    31-1577890
    Part I
    Contributors (see Instructions)
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
    1
    MARY L SHAW CHARITABLE LEAD ANNUITY TRUST
     

         
    401 EAST EIGHTH STREET
       
    SIOUX FALLS, ID   57103

    		$4,807,003




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part II
    Name of organization
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
          		Employer identification number

    31-1577890
    Part II
    Noncash Property (see Instructions)
    		     
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part III
    Name of organization
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
          		Employer identification number

    31-1577890
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2010 InvestmentsCorpBondsSchedule
    Name:
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
    EIN: 31-1577890
    Name of Bond End of Year Book Value End of Year Fair Market Value
    US BANK - FIXED INCOME FUNDS 0 0
    US BANK - FOREIGN ISSUES 0 0
    US BANK - CORPORATE ISSUES 0 0
    RBC - INTERNATIONAL EQUITIES 0 0
    RBC - TAXABLE FIXED INCOME 0 0

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
    EIN: 31-1577890
    Name of Stock End of Year Book Value End of Year Fair Market Value
    US BANK INVESTMENTS 0 0
    US BANK - MISCELLANEOUS 0 0
    RBC - US EQUITIES 0 0

    TY 2010 InvestmentsGovtObligationsSch
    Name:
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
    EIN: 31-1577890
    US Government Securities - End of Year Book Value:

    0
    US Government Securities - End of Year Fair Market Value:

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


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


    0


    TY 2010 InvestmentsOtherSchedule2
    Name:
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
    EIN: 31-1577890
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CLASSIC DEBT FUND, LLC AT COST 487,918 487,918
    CORUNDUM INCOME FUND AT COST 8,082,193 8,173,227
    CORUNDUM INTERNATIONAL FUND AT COST 2,001,084 1,687,192
    CORUNDUM LARGE CAP GROWTH FUND AT COST 6,046,906 5,334,019
    CORUNDUM LARGE CAP VALUE FUND AT COST 5,922,180 5,463,603
    CORUNDUM SMALL MID CAL VALUE FUND AT COST 2,855,610 2,721,163
    CORUNDUM SMALL MID GROWTH FUND AT COST 2,728,341 2,644,924

    TY 2010 OtherExpensesSchedule
    Name:
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
    EIN: 31-1577890
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    WIRE FEE 20 20   0
    FROM PASSTHROUGH 19 19   0
    MISCELLANEOUS 2,086 0   2,086


    TY 2010 OtherIncomeSchedule2
    Name:
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
    EIN: 31-1577890
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PASS-THROUGH FROM UNG - PUBLICLY TRADED PARTNERHSHIP -1,731   -1,731
    PASS-THROUGH FROM UNG - PUBLICLY TRADED PARTNERHSHIP -80,513 -80,513 -80,513
    MISCELLANEOUS INCOME 14,945   14,945


    TY 2010 OtherIncreasesSchedule
    Name:
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
    EIN: 31-1577890
    Description Amount
    PRIOR PERIOD ADJ TO BASIS OF UNG INVESTMENT 19,839


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
    EIN: 31-1577890
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CUSTODIAN & MANAGEMENT 30,153 30,153   0
    CORUNDUM ADVISORY FEES 139,098 139,098   0


    TY 2010 TaxesSchedule
    Name:
    THE HAROLD & MARY LOUISE SHAW FOUNDATION
    EIN: 31-1577890
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL TAXES 22,234 0   0
    FOREIGN TAXES 3,758 3,758   0