TY 2010 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

OMB No. 1545-0052

2010

For calendar year 2010, or tax year beginning 10-01-2010 , and ending 09-30-2011

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

Amended returnAddress changeName change

Name of foundation
STAHELI FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)403 DEL MAR DRIVE Room/suite

City or town, state, and ZIP code
ST GEORGE, UT84790

A Employer identification number

31-1551307

B Telephone number (see page 10 of the instructions)

(303) 694-2190

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

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

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

$1,754,230J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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

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

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


1	Contributions, gifts, grants, etc., received (attach schedule)	5,900
2	Check
3	Interest on savings and temporary cash investments	25,404		25,404
4	Dividends and interest from securities......	22,406		22,406
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		49,658
b	Gross sales price for all assets on line 6a 1,535,171
7	Capital gain net income (from Part IV, line 2)...			49,658
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........	103,368		97,468
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).......		5,975	2,988	2,987
c	Other professional fees (attach schedule)....		1,656	1,656	0
17	Interest...............
18	Taxes (attach schedule) (see page 14 of the instructions)
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		1,058	529	529
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	8,689		5,173	3,516
25	Contributions, gifts, grants paid........	107,000			107,000
26	Total expenses and disbursements. Add lines 24 and 25	115,689		5,173	110,516
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-12,321
b	Net investment income (if negative, enter -0-)			92,295
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............		-1	-1
	2	Savings and temporary cash investments..........	25,163	237,369	237,369
	3	Accounts receivable 586
		Less: allowance for doubtful accounts		586	586
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see page 15 of the
		instructions)....................
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........	0	1,707,326	1,475,150
	c	Investments—corporate bonds (attach schedule)........	309,904
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	1,667,950	45,416	41,126
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	2,003,017	1,990,696	1,754,230
	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 )
	23	Total liabilities (add lines 17 through 22)..........	0	0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	0	0
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	2,003,017	1,990,696
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................	2,003,017	1,990,696
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	2,003,017	1,990,696

Part III	Analysis of Changes in Net Assets or Fund Balances
1	Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
	with end-of-year figure reported on prior year’s return)...............	1	2,003,017
2	Enter amount from Part I, line 27a......................	2	-12,321
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	1,990,696
5	Decreases not included in line 2 (itemize)	5	0
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30..	6	1,990,696

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	4.681 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2009-11-30	2010-11-30
b	2747.021 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2009-12-29	2010-11-30
c	70.207 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2009-12-30	2010-11-30
d	7.455 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2009-12-31	2010-11-30
e	9.077 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-01-29	2010-11-30
	5.249 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-02-26	2010-11-30
	14.473 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-03-31	2010-11-30
	9.449 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-04-30	2010-11-30
	21.55 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-05-28	2010-11-30
	13.89 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-06-30	2010-11-30
	10.399 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-07-30	2010-11-30
	5.605 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-08-31	2010-11-30
	5.584 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-09-30	2010-11-30
	10.817 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-10-30	2010-11-30
	30.294 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-01-29	2011-01-24
	26.979 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-02-26	2011-01-24
	27.866 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-03-31	2011-01-24
	28.718 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-04-30	2011-01-24
	28.196 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-05-28	2011-01-24
	27.547 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-06-30	2011-01-24
	28.457 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-07-30	2011-01-24
	27.735 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-08-31	2011-01-24
	26.579 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-09-30	2011-01-24
	27.351 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-10-30	2011-01-24
	14.938 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2010-11-30	2011-01-24
	30.283 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2011-01-03	2011-01-24
	43.675 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-01-29	2011-01-24
	40.58 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-02-26	2011-01-24
	45.32 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-03-31	2011-01-24
	43.612 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-04-30	2011-01-24
	48.026 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-05-28	2011-01-24
	45.116 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-06-30	2011-01-24
	45.12 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-07-30	2011-01-24
	44.923 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-08-31	2011-01-24
	42.209 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-09-30	2011-01-24
	43.435 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-10-30	2011-01-24
	21.445 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2010-12-01	2011-01-24
	43.723 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2011-01-03	2011-01-24
	5.179 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-11-30	2011-01-24
	.011 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-12-31	2011-01-24
	.008 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2010-12-31	2011-01-24
	3.825 SHARES OF HARDING LOEVNER EMERG MKTS(AMG 3780)	P	2010-12-17	2011-03-11
	250.93 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2010-09-21	2011-03-24
	10.612 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2010-12-14	2011-03-24
	92.827 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2010-12-14	2011-03-24
	441.43 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2010-12-28	2011-03-24
	61.522 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-07-30	2011-03-24
	56.572 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-08-31	2011-03-24
	59.186 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-11-30	2011-03-24
	2868.617 SHARES OF WELLS FARGO ADV C&B MC VAL-I(AMG 3780)	P	2011-02-24	2011-05-25
	1372.684 SHARES OF CHAMPLAIN SMALL CO FD-ADV(AMG 3780)	P	2011-01-24	2011-05-25
	51.364 SHARES OF ROYCE PREMIER FUND (INV CL) #265(AMG 3780)	P	2010-12-09	2011-05-25
	917.431 SHARES OF ROYCE PREMIER FUND (INV CL) #265(AMG 3780)	P	2011-03-24	2011-05-25
	2.684 SHARES OF MERIDIAN GROWTH FUND #75(AMG 3780)	P	2010-12-15	2011-05-25
	.308 SHARES OF MERIDIAN GROWTH FUND #75(AMG 3780)	P	2010-12-15	2011-05-25
	1825.209 SHARES OF MERIDIAN GROWTH FUND #75(AMG 3780)	P	2011-03-24	2011-05-25
	1707.65 SHARES OF MERIDIAN VALUE FUND #76(AMG 3780)	P	2011-01-24	2011-05-25
	57.941 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-09-30	2011-09-02
	63.447 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-10-30	2011-09-02
	360.659 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-12-08	2011-09-02
	788.761 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-12-08	2011-09-02
	77.603 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-12-31	2011-09-02
	64.324 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2011-01-31	2011-09-02
	66.644 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2011-02-28	2011-09-02
	59.188 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2011-03-31	2011-09-02
	22.352 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2011-04-30	2011-09-02
	22.484 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2011-05-31	2011-09-02
	21.674 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2011-06-30	2011-09-02
	20.301 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2011-07-31	2011-09-02
	452 SHARES OF ISHARES COHEN & STEERS RLTY(AMG 3780)	P	2011-01-24	2011-09-01
	443 SHARES OF ISHARES COHEN & STEERS RLTY(AMG 3780)	P	2011-03-23	2011-09-01
	2785.316 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2009-10-26	2010-11-30
	1.44 SHARES OF PIMCO REAL RETURN FUND INST #122(AMG 3780)	P	2009-10-30	2010-11-30
	100000 UNITS OF ORACLE CORP 5% 01/15/2011(AMG 3780)	P	2008-02-07	2011-01-15
	8992.806 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2008-02-06	2011-01-24
	2689.039 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-02-06	2011-01-24
	45.094 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-02-29	2011-01-24
	51.289 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-03-31	2011-01-24
	51.07 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-04-30	2011-01-24
	56.959 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-05-30	2011-01-24
	54.692 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-06-30	2011-01-24
	60.602 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-07-31	2011-01-24
	59.895 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-08-29	2011-01-24
	61.924 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-09-30	2011-01-24
	78.886 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-10-31	2011-01-24
	78.429 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-11-28	2011-01-24
	79.117 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2008-12-31	2011-01-24
	70.593 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-01-30	2011-01-24
	79.741 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-02-27	2011-01-24
	66.433 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-03-31	2011-01-24
	64.805 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-04-30	2011-01-24
	72.012 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-05-29	2011-01-24
	65.67 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-06-30	2011-01-24
	82.214 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-07-31	2011-01-24
	72.064 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-08-31	2011-01-24
	71.228 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-09-30	2011-01-24
	82.382 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-10-30	2011-01-24
	62.614 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-11-30	2011-01-24
	31.424 SHARES OF PIMCO HIGH YIELD INST #108(AMG 3780)	P	2009-12-31	2011-01-24
	4490.975 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-02-06	2011-01-24
	67.009 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-02-29	2011-01-24
	91.508 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-03-31	2011-01-24
	86.194 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-04-30	2011-01-24
	90.104 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-05-30	2011-01-24
	91.835 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-06-30	2011-01-24
	96.027 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-07-31	2011-01-24
	95.766 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-08-29	2011-01-24
	99.485 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-09-30	2011-01-24
	123.754 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-10-31	2011-01-24
	126.945 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-11-28	2011-01-24
	123.747 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2008-12-31	2011-01-24
	111.819 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-01-30	2011-01-24
	105.285 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-02-27	2011-01-24
	118.471 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-03-31	2011-01-24
	104.538 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-04-30	2011-01-24
	106.326 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-05-29	2011-01-24
	101.569 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-06-30	2011-01-24
	102.07 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-07-31	2011-01-24
	106.25 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-08-31	2011-01-24
	100.452 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-09-30	2011-01-24
	93.718 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-10-30	2011-01-24
	43.241 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-11-30	2011-01-24
	46.36 SHARES OF VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29(AMG 3780)	P	2009-12-31	2011-01-24
	3445 SHARES OF ISHARES MSCI EAFE INDEX FUND(AMG 3780)	P	2007-12-19	2011-02-23
	479.731 SHARES OF HARDING LOEVNER EMERG MKTS(AMG 3780)	P	2009-10-26	2011-03-11
	1.454 SHARES OF HARDING LOEVNER EMERG MKTS(AMG 3780)	P	2009-12-17	2011-03-11
	467.727 SHARES OF HARDING LOEVNER EMERG MKTS(AMG 3780)	P	2009-12-29	2011-03-11
	5736.171 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2008-02-06	2011-03-24
	587.342 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2008-09-16	2011-03-24
	9.994 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2008-12-16	2011-03-24
	318.741 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2008-12-16	2011-03-24
	243.693 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2008-12-29	2011-03-24
	716.995 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2009-09-15	2011-03-24
	232.699 SHARES OF AMER CENT INTL BOND FUND #992(AMG 3780)	P	2009-12-29	2011-03-24
	16248.744 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-02-06	2011-03-24
	69.057 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-02-29	2011-03-24
	49.037 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-12-09	2011-03-24
	3001.501 SHARES OF RS VALUE FUND - A(AMG 3780)	P	2009-10-26	2011-05-25
	5.532 SHARES OF RS VALUE FUND - A(AMG 3780)	P	2009-12-17	2011-05-25
	1482.646 SHARES OF CHAMPLAIN SMALL CO FD-ADV(AMG 3780)	P	2009-10-26	2011-05-25
	1086 SHARES OF ROYCE PREMIER FUND (INV CL) #265(AMG 3780)	P	2009-11-25	2011-05-25
	275.291 SHARES OF MERIDIAN GROWTH FUND #75(AMG 3780)	P	2009-11-25	2011-05-25
	2315.146 SHARES OF MERIDIAN VALUE FUND #76(AMG 3780)	P	2008-02-06	2011-05-25
	2803.071 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-02-06	2011-09-02
	73.34 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-03-31	2011-09-02
	80.44 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-04-30	2011-09-02
	84.374 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-05-30	2011-09-02
	82.903 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-06-30	2011-09-02
	82.342 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-07-31	2011-09-02
	84.393 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-08-29	2011-09-02
	78.481 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-09-30	2011-09-02
	92.805 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-10-31	2011-09-02
	81.979 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-11-28	2011-09-02
	358.518 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-12-10	2011-09-02
	629.422 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-12-10	2011-09-02
	100.219 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2008-12-31	2011-09-02
	107.511 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-01-30	2011-09-02
	114.93 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-02-27	2011-09-02
	110.895 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-03-31	2011-09-02
	110.082 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-04-30	2011-09-02
	107.374 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-05-29	2011-09-02
	106.962 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-06-30	2011-09-02
	110.939 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-07-31	2011-09-02
	107.461 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-08-31	2011-09-02
	100.821 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-09-30	2011-09-02
	92.447 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-10-30	2011-09-02
	74.24 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-11-30	2011-09-02
	176.284 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-12-09	2011-09-02
	71.68 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2009-12-31	2011-09-02
	54.172 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-01-29	2011-09-02
	53.371 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-02-26	2011-09-02
	55.92 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-03-31	2011-09-02
	57.274 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-04-30	2011-09-02
	52.605 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-05-28	2011-09-02
	58.045 SHARES OF PIMCO TOTAL RETURN FUND INST #35(AMG 3780)	P	2010-06-30	2011-09-02
	2 SHARES OF SABINE ROYALTY TRUST-SBI(AMG 4903)	P	2011-04-04	2011-09-20
	17 SHARES OF DORCHESTER MINERALS LP(AMG 4903)	P	2011-04-04	2011-09-20
	17 SHARES OF HUGOTON ROYALTY TRUST TEXAS UNIT BEN INT(AMG 4903)	P	2011-04-04	2011-09-20
	14 SHARES OF NORTH EUROPEAN OIL RTY TRUST(AMG 4903)	P	2011-04-04	2011-09-20
	24 SHARES OF WHITING USA TRUST I(AMG 4903)	P	2011-04-04	2011-09-20
	12 SHARES OF MV OIL TRUST(AMG 4903)	P	2011-04-04	2011-09-20
	22 SHARES OF WHITING USA TRUST I(AMG 4903)	P	2011-04-04	2011-09-21
	15 SHARES OF HUGOTON ROYALTY TRUST TEXAS UNIT BEN INT(AMG 4903)	P	2011-04-04	2011-09-21
	14 SHARES OF DORCHESTER MINERALS LP(AMG 4903)	P	2011-04-04	2011-09-21
	16 SHARES OF MV OIL TRUST(AMG 4903)	P	2011-04-04	2011-09-21
	6 SHARES OF NORTH EUROPEAN OIL RTY TRUST(AMG 4903)	P	2011-04-04	2011-09-21
	14 SHARES OF DORCHESTER MINERALS LP(AMG 4903)	P	2011-04-04	2011-09-22
	21 SHARES OF MV OIL TRUST(AMG 4903)	P	2011-04-04	2011-09-22
	4 SHARES OF NORTH EUROPEAN OIL RTY TRUST(AMG 4903)	P	2011-04-04	2011-09-22
	21 SHARES OF MV OIL TRUST(AMG 4903)	P	2011-04-04	2011-09-23
	17 SHARES OF DORCHESTER MINERALS LP(AMG 4903)	P	2011-04-04	2011-09-23
	10 SHARES OF MV OIL TRUST(AMG 4903)	P	2011-04-04	2011-09-26
	CAPITAL GAINS DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	54	51	3
b	31,819	29,809	2,010
c	813	762	51
d	86	81	5
e	105	99	6
	61	57	4
	168	157	11
	109	103	6
	250	234	16
	161	151	10
	120	113	7
	65	61	4
	65	61	4
	125	117	8
	285	279	6
	254	248	6
	262	257	5
	270	264	6
	265	260	5
	259	254	5
	268	262	6
	261	255	6
	250	245	5
	257	252	5
	140	137	3
	285	282	3
	251	248	3
	234	230	4
	261	257	4
	251	248	3
	276	273	3
	260	256	4
	260	256	4
	259	255	4
	243	240	3
	250	246	4
	123	121	2
	252	249	3
	59	60	-1
			0
			0
	186	192	-6
	3,575	3,737	-162
	151	149	2
	1,322	1,301	21
	6,288	5,981	307
	669	673	-4
	615	619	-4
	644	680	-36
	49,960	48,128	1,832
	21,614	20,040	1,574
	1,124	1,015	109
	20,074	20,040	34
	128	118	10
	15	14	1
	86,736	85,040	1,696
	50,922	50,040	882
	640	634	6
	701	694	7
	3,983	3,895	88
	8,712	8,519	193
	857	842	15
	710	698	12
	736	725	11
	654	644	10
	247	247	0
	248	249	-1
	239	238	1
	224	225	-1
	31,399	30,082	1,317
	30,774	30,010	764
	32,262	30,224	2,038
	17	16	1
	100,000	103,410	-3,410
	124,960	133,933	-8,973
	25,280	24,753	527
	424	415	9
	482	472	10
	480	470	10
	535	524	11
	514	503	11
	570	558	12
	563	551	12
	582	570	12
	742	726	16
	737	722	15
	744	728	16
	664	650	14
	750	734	16
	625	612	13
	609	597	12
	677	663	14
	617	605	12
	773	757	16
	677	663	14
	670	656	14
	774	758	16
	589	576	13
	295	289	6
	25,843	25,491	352
	386	380	6
	527	519	8
	496	489	7
	519	511	8
	528	521	7
	553	545	8
	551	544	7
	572	565	7
	712	702	10
	731	721	10
	712	702	10
	643	635	8
	606	598	8
	682	672	10
	602	593	9
	612	604	8
	584	577	7
	587	579	8
	611	603	8
	578	570	8
	539	532	7
	249	245	4
	267	263	4
	207,435	205,004	2,431
	23,314	20,253	3,061
	71	61	10
	22,731	19,746	2,985
	81,714	85,431	-3,717
	8,367	8,748	-381
	142	149	-7
	4,541	4,747	-206
	3,472	3,629	-157
	10,214	10,678	-464
	3,315	3,466	-151
	176,747	177,657	-910
	751	755	-4
	533	536	-3
	79,650	60,001	19,649
	147	111	36
	23,346	16,828	6,518
	23,762	17,216	6,546
	13,082	9,137	3,945
	69,038	66,924	2,114
	30,960	30,648	312
	810	802	8
	888	880	8
	932	923	9
	916	906	10
	909	900	9
	932	923	9
	867	858	9
	1,025	1,015	10
	905	896	9
	3,960	3,920	40
	6,952	6,882	70
	1,107	1,096	11
	1,187	1,175	12
	1,269	1,257	12
	1,225	1,212	13
	1,216	1,204	12
	1,186	1,174	12
	1,181	1,169	12
	1,225	1,213	12
	1,187	1,175	12
	1,114	1,102	12
	1,021	1,011	10
	820	812	8
	1,947	1,927	20
	792	784	8
	598	592	6
	589	584	5
	618	611	7
	633	626	7
	581	575	6
	641	635	6
	125	122	3
	411	501	-90
	377	404	-27
	443	435	8
	400	399	1
	476	476	0
	370	366	4
	340	356	-16
	336	413	-77
	627	635	-8
	189	186	3
	323	413	-90
	795	833	-38
	126	124	2
	795	833	-38
	390	501	-111
	373	397	-24
	6,225		6,225

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			3
b			2,010
c			51
d			5
e			6
			4
			11
			6
			16
			10
			7
			4
			4
			8
			6
			6
			5
			6
			5
			5
			6
			6
			5
			5
			3
			3
			3
			4
			4
			3
			3
			4
			4
			4
			3
			4
			2
			3
			-1
			0
			0
			-6
			-162
			2
			21
			307
			-4
			-4
			-36
			1,832
			1,574
			109
			34
			10
			1
			1,696
			882
			6
			7
			88
			193
			15
			12
			11
			10
			0
			-1
			1
			-1
			1,317
			764
			2,038
			1
			-3,410
			-8,973
			527
			9
			10
			10
			11
			11
			12
			12
			12
			16
			15
			16
			14
			16
			13
			12
			14
			12
			16
			14
			14
			16
			13
			6
			352
			6
			8
			7
			8
			7
			8
			7
			7
			10
			10
			10
			8
			8
			10
			9
			8
			7
			8
			8
			8
			7
			4
			4
			2,431
			3,061
			10
			2,985
			-3,717
			-381
			-7
			-206
			-157
			-464
			-151
			-910
			-4
			-3
			19,649
			36
			6,518
			6,546
			3,945
			2,114
			312
			8
			8
			9
			10
			9
			9
			9
			10
			9
			40
			70
			11
			12
			12
			13
			12
			12
			12
			12
			12
			12
			10
			8
			20
			8
			6
			5
			7
			7
			6
			6
			3
			-90
			-27
			8
			1
			0
			4
			-16
			-77
			-8
			3
			-90
			-38
			2
			-38
			-111
			-24
			6,225

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	49,658
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . .		3

Part V

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

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

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

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

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

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2009	102,011	1,897,168	0.053770
2008	129,001	1,738,297	0.074211
2007	77,083	2,221,065	0.034705
2006	131,661	2,267,491	0.058065
2005	94,042	2,100,046	0.044781

2	Total of line 1, column (d) ......................	2	0.265532
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	0.053106
4	Enter the net value of noncharitable-use assets for 2010 from Part X, line 5.....	4	2,018,809
5	Multiply line 4 by line 3.......................	5	107,211
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	923
7	Add lines 5 and 6.........................	7	108,134
8	Enter qualifying distributions from Part XII, line 4..............	8	110,516
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)

Page 4

Part VI

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

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	923
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	923
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	923
6	Credits/Payments:

a	2010 estimated tax payments and 2009 overpayment credited to 2010	6a	1,485
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	1,485
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	562
11	Enter the amount of line 10 to be: Credited to 2011 estimated tax562	Refunded	11	0

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

Yes

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

instructions) bullet

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

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

Yes

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

or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on

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

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

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

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

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

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

Yes

Website address bullet

N/A

The books are in care of bullet

AMG NATIONAL TRUST BANK Telephone no. bullet

(303) 694-2190

Located at bullet

6501 EAST BELLEVIEW AVE SUITE 400ENGLEWOODCO ZIP+4 bullet

801116020

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

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

At any time during calendar year 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? .................

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)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

that were not corrected before the first day of the tax year beginning in 2010?.............

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

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

At the end of tax year 2010, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2010?...............YesNo

If “Yes,” list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If “Yes,” did it have excess business holdings in 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.)....................

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

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

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2010?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If “Yes” to 6b, file Form 8870.

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

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

Form 990-PF (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
AFTON STAHELI	DIRECTOR/SECRETARY 1.00	0	0	0
403 DEL MAR DRIVE ST GEORGE,UT84790	DIRECTOR/SECRETARY 1.00	0	0	0
GAYE PRICE	DIRECTOR 0.00	0	0	0
553 DEL MAR DRIVE ST GEORGE,UT84790	DIRECTOR 0.00	0	0	0
TODD STAHELI	DIRECTOR 0.00	0	0	0
3473 DUGAR LEO ROAD ST GEORGE,UT84790	DIRECTOR 0.00	0	0	0
SHARMAINE BARONE	DIRECTOR 0.00	0	0	0
17 SPOONWOOD ROAD WILTON,CT06897	DIRECTOR 0.00	0	0	0
SHANNON WHITE	DIRECTOR 0.00	0	0	0
143 CHESTNUT HILL WILTON,CT06897	DIRECTOR 0.00	0	0	0

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









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

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

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

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1	NOT APPLICABLE	0
2


3


4

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	NOT APPLICABLE	0
2


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

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

Part X

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

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

purposes:

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

1,786,093

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

263,459

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

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

2,049,552

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

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

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

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

2,049,552

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

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

30,743

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

2,018,809

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

100,940

Part XI

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

and do not complete this part.)

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

100,940

Tax on investment income for 2010 from Part VI, line 5......

923

Income tax for 2010. (This does not include the tax from Part VI.)...

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

923

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

100,017

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

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

100,017

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

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

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

100,017

Part XII

Qualifying Distributions (see page 25 of the instructions)

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

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

110,516

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

110,516

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

923

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

109,593

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)

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				100,017
2 Undistributed income, if any, as of the end of 2010:
a Enter amount for 2009 only.......			57,223
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.......
e From 2009.......
fTotal of lines 3a through e.........	0
4Qualifying distributions for 2010 from Part
XII, line 4: $ 110,516
a Applied to 2009, but not more than line 2a			57,223
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.....				53,293
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2010.	0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5	0
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........		0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......		0
d Subtract line 6c from line 6b. Taxable amount—see page 27 of the instructions ...		0
e Undistributed income for 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 ..........				46,724
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)

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 section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2010	(b) 2009	(c) 2008	(d) 2007	(e) Total

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

Part XV

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

1Information Regarding Foundation Managers:

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

AFTON STAHELI

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
THE CHURCH OF JESUS CHRIST OF THE LATTER-DAY SAINTS 50 EAST NORTH TEMPLE STREET SALT LAKE CITY,UT84150	NONE	EXEMPT	RELIGIOUS, HUMANITARIAN FUND, GENERAL FUND	100,000
UTAH STATE UNIVERSITY 1400 OLD MAIN HILL LOGAN,UT84322	NONE	EXEMPT	EDUCATIONAL, GENERAL FUND	7,000
Total ................................. 3a				107,000

bApproved for future payment

Total .................................. 3b				0

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	25,404
4 Dividends and interest from securities....			18	22,406
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	49,658
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		97,468	0

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

1397,468

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2010)

Page 12

Part XVII

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

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

Yes

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

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If “Yes,” complete the following schedule.

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

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

	Signature of officer or trustee	Date	Title

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

Form 990-PF (2010)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of organization STAHELI FOUNDATION
Schedule B (Form 990, 990-EZ, or 990-PF) (2010) Page 1 of 1 of Part I
Part I	Contributors (see Instructions)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
1	AFTON STAHELI 403 DEL MAR DRIVE ST GEORGE, UT 84790	$5,900	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Aggregate contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Name of organization STAHELI FOUNDATION
Schedule B (Form 990, 990-EZ, or 990-PF) (2010) Page 1 of 1 of Part II
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)

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTANT FEES	5,900	2,950		2,950
PROFESSIONAL FEES	75	38		37

Name of Stock	End of Year Book Value	End of Year Fair Market Value
AMG 3780 - CHAMPLAIN SMALL CO FD-ADV	43,172	50,741
AMG 3780 - BERKSHIRE HATHAWAY 4.75% 05/15/2012	106,619	102,546
AMG 3780 - WILLIAM BLAIR INTL GROWTH-I	71,746	52,095
AMG 3780 - DODGE & COX STOCK FUND #145	100,172	73,990
AMG 3780 - ISHARES RUSSELL MIDCAP INDEX	180,399	146,054
AMG 3780 - ISHARES TRUST RUSSELL 2000	40,880	32,150
AMG 3780 - LEGG MASON VALUE INSTITUTIONAL #1347	179,760	115,518
AMG 3780 - MARSICO FOCUS FUND #40	33,040	28,814
AMG 3780 - MERIDIAN GROWTH FUND #75	51,111	60,304
AMG 3780 - MERIDIAN VALUE FUND #76	52,468	44,274
AMG 3780 - NATIONAL RURAL UTILITIES 4.25% 08/15/2013	99,875	104,925
AMG 3780 - PIMCO LOW DURATION FUND #36	88,340	86,781
AMG 3780 - PIMCO TOTAL RETURN FUND INST #35	212	207
AMG 3780 - PIMCO HIGH YIELD INST #108	187	171
AMG 3780 - RS GLOBAL NATURAL RESOURCE #1474	115,120	96,669
AMG 3780 - T ROWE PRICE INSTITUTIONAL FLOATING RATE	101,451	95,184
AMG 3780 - ROYCE PREMIER FUND (INV CL) #265	42,784	48,578
AMG 3780 - SPDR S&P 500 ETF TRUST	224,811	192,355
AMG 3780 - SCOUT INTERNATIONAL FUND	65,726	53,204
AMG 3780- THIRD AVENUE INTERNATIONAL VALUE	67,341	54,953
AMG 3780 - VANGUARD HIGH-YIELD CORP INVESTOR SHARES #29	200	189
AMG 3780 - WELLS FARGO ADV C&B MC VAL-I	41,912	35,448

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
AMG 4903 - BP PRUHOE BAY ROYALTY TRUST	AT COST	12,409	10,851
AMG 4903 - CROSS TIMBERS ROYALTY TRUST UNITS	AT COST	1,902	1,783
AMG 4903 - DOMINION RESOURCES BLACK WARRIOR ROYALTY TRUST	AT COST	957	673
AMG 4903 - DORCHESTER MINERALS LP	AT COST	1,858	1,498
AMG 4903 - ECA MARCELLUS TRUST I	AT COST	1,167	1,131
AMG 4903 - HUGOTON ROYALTY TRUST TEXAS UNIT BEN INT	AT COST	5,345	4,788
AMG 4903 - MV OIL TRUST	AT COST	4,563	4,269
AMG 4903 - PERMIAN BASIN ROYALTY TRUST	AT COST	6,693	6,240
AMG 4903 - SABINE ROYALTY TRUST-SBI	AT COST	1,400	1,450
AMG 4903 - SAN JUAN BASIN ROYALTY TR-UBI	AT COST	5,183	4,502
AMG 4903 - WHITING USA TRUST I	AT COST	3,939	3,941