Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2011
For calendar year 2011, or tax year beginning 01-01-2011 , and ending 12-31-2011
G
Check all that apply:
Name of foundation
WELBORN BAPTIST FOUNDATION INC
 

Number and street (or P.O. box number if mail is not delivered to street address)TWENTY-ONE SOUTHEAST THIRD STREETROOM/SUITE 610Room/suite
City or town, state, and ZIP code
EVANSVILLE, IN477081418
A Employer identification number

35-2056722
B Telephone number (see page 10 of the instructions)

(812) 437-8260
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$103,488,427J 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) 1,100,000
2 Check bullet
3 Interest on savings and temporary cash investments 71 71  
4 Dividends and interest from securities...... 6,716,445 6,716,445  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 154,845
b Gross sales price for all assets on line 6a 27,311,756
7 Capital gain net income (from Part IV, line 2)...  
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 3,122    
12 Total. Add lines 1 through 11........ 7,974,483 6,716,516  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 175,618 1,351   175,299
14 Other employee salaries and wages...... 516,884 1,042   569,791
15 Pension plans, employee benefits....... 200,569 146   172,638
16a Legal fees (attach schedule)......... Click to see attachment 10,806     11,567
b Accounting fees (attach schedule)....... Click to see attachment 22,337     20,127
c Other professional fees (attach schedule).... Click to see attachment 285,714 187,487   97,749
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 68,876     103,022
19 Depreciation (attach schedule) and depletion... Click to see attachment 48,401    
20 Occupancy.............. 112,242     179,415
21 Travel, conferences, and meetings....... 65,612     60,057
22 Printing and publications.......... 1,533     1,219
23 Other expenses (attach schedule)....... Click to see attachment 735,115     895,337
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,243,707 190,026   2,286,221
25 Contributions, gifts, grants paid........ 3,935,633 2,686,904
26 Total expenses and disbursements. Add lines 24 and 25 6,179,340 190,026   4,973,125
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,795,143
b Net investment income (if negative, enter -0-) 6,526,490
c Adjusted net income (if negative, enter -0-)...  
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2011)
Form 990-PF (2011)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 100 100 100
2 Savings and temporary cash investments.......... 729,644 475,448 475,448
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........... 30,671 22,767 22,767
10a Investments—U.S. and state government obligations (attach schedule) 7,402,643 Click to see attachment4,952,900 5,174,999
b Investments—corporate stock (attach schedule)........ 68,390,513 Click to see attachment68,407,648 63,004,520
c Investments—corporate bonds (attach schedule)........ 28,167,871 Click to see attachment33,677,921 34,369,619
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet568,590
Less: accumulated depreciation (attach schedule) bullet276,051 323,456 Click to see attachment292,539 292,538
15 Other assets (describe bullet) Click to see attachment166,431 Click to see attachment148,436 Click to see attachment148,436
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 105,211,329 107,977,759 103,488,427
Liabilities 17 Accounts payable and accrued expenses.......... 114,876 105,885
18 Grants payable................... 3,369,038 4,545,744
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) Click to see attachment140,078  
23 Total liabilities (add lines 17 through 22).......... 3,623,992 4,651,629
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.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 101,587,337 103,382,480
30 Total net assets or fund balances (see page 17 of the
instructions).................... 101,587,337 103,382,480
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 105,211,329 108,034,109
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)............... 1 101,587,337
2 Enter amount from Part I, line 27a..................... 2 1,795,143
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 103,382,480
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 103,382,480
Form 990-PF (2011)
Form 990-PF (2011)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1a
b
c
d
e
(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
b
c
d
e
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
b
c
d
e
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 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2010 4,312,695 97,696,570 0.044144
2009 4,711,889 83,643,154 0.056333
2008 6,259,468 103,064,748 0.060733
2007 4,802,641 117,885,825 0.040740
2006 4,442,734 109,223,370 0.040676
2 Total of line 1, column (d) ...................... 2 0.242626
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 0.048525
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 106,085,633
5 Multiply line 4 by line 3....................... 5 5,147,805
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 65,265
7 Add lines 5 and 6......................... 7 5,213,070
8 Enter qualifying distributions from Part XII, line 4.............. 8 4,990,608
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2011)
Form 990-PF (2011)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 130,530
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  
3 Add lines 1 and 2............................ 3 130,530
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 130,530
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 68,876
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 68,876
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 1,226
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 62,880
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet0 Refunded Bullet 11  
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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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)bulletIN
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV..........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.WELBORNFDN.ORG
    14
    The books are in care ofbulletKEVIN BAIN Telephone no.bullet (812) 437-8260
    Located atbullet21 SE THRID ST SUITE 610EVANSVILLEIN ZIP+4bullet477081418
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
     
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2011?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2011, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2011?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2011 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2011.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    W HAROLD CALLOWAYClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    LISA N COLLINSClick to see attachment TREASURER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    JOHN M DUNNClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    RITA EYKAMPClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    C MARK HUBBARDClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    THOMAS KAZEEClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    E LYNN JOHNSONClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    MARILYN KLENCKClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    DAVID L KNAPPClick to see attachment SECOND VICE
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    CONNIE K NASSClick to see attachment SECRETARY
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    JOHN D PULCINI MD FACSClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    ELLIS S REDDClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    RONALD ROMAINClick to see attachment CHAIRMAN
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    DANIEL SCHENKClick to see attachment FIRST VICE C
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    JALEIGH J WHITEClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    KEVIN BAINClick to see attachment EXEC. DIR.
    40.00     		175,618 68,874 0
    21 SE THIRD ST
    SUITE 310
    EVANSVILLE,IN47708
    JOHN C SCHROEDERClick to see attachment BOARD MEMBER
    1.00     		0 0 0
    21 SE THIRD STREET
    SUITE 610
    EVANSVILLE,IN47708
    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
    GARY BAUERClick to see attachment CFO
    40.00     		102,001 29,661  
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    PATRICK JACKSONClick to see attachment SR PROGRAM O
    40.00     		72,112 19,659  
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    RHONDA MEADEClick to see attachment PROGRAM DIRE
    40.00     		69,305 17,299  
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    ANDREA HAYSClick to see attachment PROGRAM DIRE
    40.00     		71,999 15,859  
    21 SE THIRD STREET SUITE 610
    EVANSVILLE,IN477081418
    ELIZABETH THARPClick to see attachment EVALUATION O
    40.00     		66,321 16,859  
    21 SE THRID STREET
    SUITE 610
    EVANSVILLE,IN47708
    Total number of other employees paid over $50,000...................bullet  
    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
    ASHER AGENCY INC PROGRAM SUPPORT 218,472
    535 W WAYNE STREET
    FORT WAYNE,IN46825
    DIMEO SCHNEIDER ASSOC LLC INVESTMENT 88,440
    500 WEST MADISON STREET
    CHICAGO,IL60661
    UNIVERSITY OF ILLINOIS PROGRAM SUPPORT 76,850
    ONE UNIVERSITY PLAZA
    SPRINGFIELD,IL62708
    METROPOLITAN WEST ASSET MGMT INVESTMENT 69,998
    11766 WILSHIRE BOULEVARD
    SUITE 1580
    LOS ANGELES,CA90025
    MATT WAGNER PROGRAM SUPPORT 52,732
    445 S BOEKE ROAD
    EVANSVILLE,IN47714
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    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.)
    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
    107,525,976
    b
    Average of monthly cash balances.......................
    1b
    175,174
    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
    107,701,150
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    107,701,150
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    1,615,517
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    106,085,633
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    5,304,282
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    5,304,282
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    130,530
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    130,530
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,173,752
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    5,173,752
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    5,173,752
    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
    4,973,125
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    17,483
    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
    4,990,608
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    4,990,608
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2010     		(c)
    2010     		(d)
    2011
    1 Distributable amount for 2011 from Part XI, line 7 5,173,752
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2011:
    a From 2006.......  
    b From 2007.......  
    c From 2008....... 713,794
    d From 2009....... 558,443
    e From 2010.......  
    fTotal of lines 3a through e......... 1,272,237
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 4,990,608
    a Applied to 2010, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		  
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		 
    d Applied to 2011 distributable amount..... 4,990,608
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2011. 183,144 183,144
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 1,089,093
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		 
    e Undistributed income for 2010. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    f Undistributed income for 2011. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		 
    8Excess distributions carryover from 2006 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		 
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		1,089,093
    10 Analysis of line 9:
    a Excess from 2007....  
    b Excess from 2008.... 530,650
    c Excess from 2009.... 558,443
    d Excess from 2010....  
    e Excess from 2011....  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2011, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2011 (b) 2010 (c) 2009 (d) 2008
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    KEVIN R BAIN
    21 SE THIRD ST
    SUITE 610
    EVANSVILLE,IN47708
    (812) 437-8260
    bThe form in which applications should be submitted and information and materials they should include:
    VISIT WWW.WELBORNFDN.ORG FOR THIS INFORMATION
    cAny submission deadlines:
    WILL BE PUBLISHED ANNUALLY AT WWW.WELBORNFDN.ORG
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SW INDIANA, SE ILLINOIS AND HENDERSON KY. SEE WEB PAGE.
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    UNIVERSITY OF SOUTHERN INDIANA
    8600 UNIVERSITY BLVD
    EVANSVILLE,IN47712     		N/A PUBLIC COMMUNITY HEALTH STATUS 1,870
    UNITED WAY OF PERRY COUNT
    PO BOX 73
    TELL CITY,IN47586     		N/A PUBLIC COMMUNITY HEALTH STATUS 4,581
    EVANSVILLE-VANDERBURGH SCHOOL CORP
    1 SE NINTH STREET
    EVANSVILLE,IN47708     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 215,458
    LUCE ELEMENTARY
    1057 NORTH COUNTY ROAD
    RICHLAND,IN47634     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 7,748
    PERRY CENTRAL ELEMENTARY
    18677 OLD STATE ROAD 37
    LEOPOLD,IN47551     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 9,673
    JOSHUA ACADEMY
    867 E WALNUT STREET
    EVANSVILLE,IN47713     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 9,118
    ST PHILIP CATHOLIC SCHOOL
    3500 ST PHILIP ROAD S
    MT VERNON,IN47620     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 7,790
    WOOD MEMORIAL JR HIGH
    954A SOUTH FRANKLIN ST
    OAKLAND CITY,IN47660     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 7,435
    WILLIAM TELL ELEMENTARY
    1235 31ST STREET
    TELL CITY,IN47586     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 10,303
    CEDAR CREST INTERMEDIATE SCHOOL
    4770 SOUTH STATE RD 162
    HUNTINGBURG,IN47542     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 12,935
    SOUTH ELEMENTARY SCHOOL
    715 W 3RD STREET
    MT CARMEL,IL62863     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 12,329
    SOUTH MIDDLE SCHOOL
    800 ALVES STREET
    HENDERSON,KY42420     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 8,703
    NORRIS CITY - OMAHA ELEMENTARY
    580 US 45
    NORRIS CITY,IL62869     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 7,730
    COMMUNITY COORDINATED CHILD CARE
    600 SE 6TH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC EARLY CHILDHOOD DEVELOPMENT 124,280
    EVANSVILLE AREA TRAILS COALITION I
    PO BOX 13029
    EVANSVILLE,IN47728     		N/A PUBLIC IMPROVED PHYSICAL ACTIVITY AND NUTRI 18,408
    YOUTH FIRST INC
    3220 E MORGAN AVE
    EVANSVILLE,IN47715     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 774
    HOLLY'S HOUSE INC
    PO BOX 4125
    EVANSVILLE,IN47724     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 14,810
    SBHP - EVALUATIONS
    21 SE 3RD STREET
    EVANSVILLE,IN47708     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 63,067
    TRI-STATE BUSINESS GROUP ON HEALTH
    8437 BELL OAKS DRIVE
    NEWBURGH,IN47630     		N/A PUBLIC IMPROVED PHYSICAL ACTIVITY AND NUTRI 16,666
    URBAN SEEDS LLC
    1501 ADAMS AVENUE
    EVANSVILLE,IN47714     		N/A PUBLIC IMPROVED PHYSICAL ACTIVITY AND NUTRI 25,530
    MEMORIAL COMMUNITY DEVELOPMENT CORP
    645 CANAL STREET
    EVANSVILLE,IN47713     		N/A PUBLIC IMPROVED PHYSICAL ACTIVITY AND NUTRI 10,000
    FIRST CHRISTIAN CHURCH NEWBURGH
    4544 OLD STATE ROAD
    NEWBURGH,IN47630     		N/A PUBLIC IMPROVED PHYSICAL ACTIVITY AND NUTRI 4,850
    WELBORN BAPTIST FOUNDATION
    21 SE 3RD STREET
    EVANSVILLE,IN47708     		N/A PUBLIC IMPROVED PHYSICAL ACTIVITY AND NUTRI 15,360
    DEACONESS FAMILY MEDICINE RESIDENCY
    515 READ STREET
    EVANSVILLE,IN47710     		N/A PUBLIC COMMUNITY HEALTH STATUS 48,750
    ECHO COMMUNITY HEALTH CARE
    315 MULBERRY ST
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 30,000
    FERRELL HOSPTIAL COMMUNITY FOUNDATI
    1201 PINE STREET
    ELDORADO,IL62930     		N/A PUBLIC COMMUNITY HEALTH STATUS 44,135
    MATTHEW 25 AIDS SERVICES
    452 OLD CORYDON ROAD
    HENDERSON,KY42420     		N/A PUBLIC COMMUNITY HEALTH STATUS 26,250
    TULIP TREE HEALTH SERVICES
    123 N MCCREARY STREET
    FT BRANCH,IN47648     		N/A PUBLIC COMMUNITY HEALTH STATUS 41,250
    COMMUNITY COORDINATED CHILD CARE
    600 SE 6TH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC EARLY CHILDHOOD DEVELOPMENT 159,646
    UNITED WAY OF SOUTHWESTERN INDIANA
    PO BOX 18
    EVANSVILLE,IN47701     		N/A PUBLIC EARLY CHILDHOOD DEVELOPMENT 18,750
    EVANSVILLE CHRISTIAN LIFE CENTER
    509 S KENTUCKY AVE
    EVANSVILLE,IN47714     		N/A PUBLIC FAITH BASED 30,000
    GOOD NEWS JAIL & PRISON MINISTRY
    130 WEST 6TH ST
    MT CARMEL,IL62863     		N/A PUBLIC FAITH BASED 26,250
    MEDIA MINISTRIES INC
    4630 BAYARD PARK DRIVE
    EVANSVILLE,IN47714     		N/A PUBLIC FAITH BASED 22,500
    YOUNG LIFE
    8114 BURCH PARK DR
    EVANSVILLE,IN47725     		N/A PUBLIC FAITH BASED 33,750
    POTTER'S WHEEL
    333 JEFFERSON AVE
    EVANSVILLE,IN47713     		N/A PUBLIC FAITH BASED 25,500
    TTT CHRISTIAN YOUTH HOME INC
    13000 US HWY 41 N
    EVANSVILLE,IN47725     		N/A PUBLIC FAITH BASED 22,500
    UNITED METHODIST YOUTH HOME INC
    2521 N BURKHARDT RD
    EVANSVILLE,IN47715     		N/A PUBLIC FAITH BASED 18,750
    EVANSVILLE CHRISTIAN LIFE CENTER
    509 S KENTUCKY AVE
    EVANSVILLE,IN47714     		N/A PUBLIC FAITH BASED 11,128
    GUADALUPE CENTER
    511 E 4TH STREET
    EVANSVILLE,IN47542     		N/A PUBLIC COMMUNITY HEALTH STATUS 22,500
    VISITING NURSE ASSOCIATION
    610 E WALNUT STREET
    EVANSVILLE,IN47734     		N/A PUBLIC COMMUNITY HEALTH STATUS 22,500
    CARVER COMMUNITY ORGANIZATION
    400 SE 8TH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 45,000
    HILLCREST WASHINGTON YOUTH HOME
    2700 W INDIANA ST
    EVANSVILLE,IN47712     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 30,000
    HOLLY'S HOUSE INC
    PO BOX 4125
    EVANSVILLE,IN47724     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 28,750
    YOUNG WOMEN'S CHRISTIAN ASSOCIATION
    118 VINE STREET
    EVANSVILLE,IN47708     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 30,000
    LAMPION CENTER
    655 S HEBRON AVE
    EVANSVILLE,IN47714     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 22,500
    MARIAN EDUCATIONAL OUTREACH
    520 S BENNINGHOF AVE
    EVANSVILLE,IN47714     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 5,000
    MEDIA MINISTRIES INC
    4630 BAYARD PARK DRIVE
    EVANSVILLE,IN47714     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 23,000
    NEW HOPE DEVELOPMENET CORPORATION
    663 SOUTH ELLIOTT STREET
    EVANSVILLE,IN47713     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 70,769
    HOLY REDEEMER SCHOOL
    918-B WEST MILL ROAD
    EVANSVILLE,IN47710     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 30,000
    YOUTH FIRST INC
    3420 E MORGAN AVE
    EVANSVILLE,IN47715     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 310,000
    YOUTH SERVICE BUREAU
    734 W DELAWARE ST
    EVANSVILLE,IN47710     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 30,000
    CRISIS PREGNANCY CENTER OF HENDERSO
    603 CENTER STREET
    HENDERSON,KY42420     		N/A PUBLIC FAITH BASED 13,000
    ENCOUNTERING HOPE MINISTRIES INC
    304 NORTH SECOND STREET
    BOONVILLE,IN47601     		N/A PUBLIC FAITH BASED 12,500
    EVANSVILLE CHRISTIAN LIFE CENTER
    509 S KENTUCKY AVE
    EVANSVILLE,IN47714     		N/A PUBLIC FAITH BASED 20,000
    IMPACT MINISTRIES
    720 SE EIGHTH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC FAITH BASED 15,000
    EVANSVILLE AREA COMMUNITY OF CHURCH
    2001 BAYARD PARK DRIVE
    EVANSVILLE,IN47714     		N/A PUBLIC FAITH BASED 28,000
    UNITED METHODIST YOUTH HOME INC
    2521 N BURKHARDT RD
    EVANSVILLE,IN47715     		N/A PUBLIC FAITH BASED 22,500
    POTTER'S WHEEL
    333 JEFFERSON AVE
    EVANSVILLE,IN47713     		N/A PUBLIC FAITH BASED 10,000
    TTT CHRISTIAN YOUTH HOME INC
    13000 US HWY 41 N
    EVANSVILLE,IN47725     		N/A PUBLIC FAITH BASED 7,500
    YOUNG LIFE
    8114 BURCH PARK DR
    EVANSVILLE,IN47725     		N/A PUBLIC FAITH BASED 18,750
    MEDIA MINISTRIES INC
    4630 BAYARD PARK DRIVE
    EVANSVILLE,IN47714     		N/A PUBLIC FAITH BASED 18,750
    GOSPEL EXPRESS MISSIONS MINISTRIES
    120 FIRST STREET
    BOONVILLE,IN47601     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 16,000
    IMPACT CHRISTIAN HEALTH CENTER
    720 SE EIGHTH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 30,000
    WADESVILLE CENTER TOWNSHIP VOLUNTEE
    PO BOX 180
    WADESVILLE,IN47638     		N/A PUBLIC COMMUNITY HEALTH STATUS 5,000
    LAMPION CENTER
    655 S HEBRON AVE
    EVANSVILLE,IN47714     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 15,000
    BIG BROTHERSBIG SISTERS
    101 PLAZA EAST BLVD
    EVANSVILLE,IN47715     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 15,000
    MENTORS 4 KIDS INC
    610 N MCLEANSBORO ST
    BENTON,IL62812     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 20,000
    YOUNG WOMEN'S CHRISTIAN ASSOCIATION
    118 VINE STREET
    EVANSVILLE,IN47708     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 50,000
    THE GUARDIAN CENTER
    207 E MAIN STEET
    CARMI,IL62821     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 20,000
    HOLLY'S HOUSE INC
    PO BOX 4125
    EVANSVILLE,IN47724     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 54,000
    LAMPION CENTER
    655 S HEBRON AVE
    EVANSVILLE,IN47714     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 21,250
    CARVER COMMUNITY ORGANIZATION
    400 SE 8TH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 20,000
    BOOM SQUAD INC
    PO BOX 3902
    EVANSVILLE,IN47737     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 10,000
    YOUTH RESOURCES OF SOUTHWESTERN IND
    PO BOX 3635
    EVANSVILLE,IN47735     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 18,000
    HOLY REDEEMER SCHOOL
    918-B WEST MILL ROAD
    EVANSVILLE,IN47710     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 20,000
    WARRICK COUNTY SCHOOL CORPORATION
    300 EAST GUM STREET
    BOONVILLE,IN47601     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 13,500
    SOUTHERN HILLS COUNSELING CENTER
    480 EVERSMAN DRIVE
    JASPER,IN47547     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 9,000
    YOUTH SERVICE BUREAU
    734 W DELAWARE ST
    EVANSVILLE,IN47710     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 10,000
    CEDAR CREST INTERMEDIATE SCHOOL
    4770 SOUTH STATE RD 162
    HUNTINGBURG,IN47542     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 25,550
    SOUTH ELEMENTARY SCHOOL
    715 W 3RD STREET
    MT CARMEL,IL62863     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 30,260
    SOUTH MIDDLE SCHOOL
    800 ALVES STREET
    HENDERSON,KY42420     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 26,590
    NORRIS CITY - OMAHA ELEMENTARY
    580 US 45
    NORRIS CITY,IL62869     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 17,280
    LUCE ELEMENTARY
    1057 NORTH COUNTY ROAD
    RICHLAND,IN47634     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 17,507
    FIFTH STREET ELEMENARY
    401 WEST 5TH STREET
    JASPER,IN47546     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 12,610
    MT CARMEL HIGH SCHOOL
    201 PEAR STREET
    MT CARMEL,IL62863     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 17,985
    TELL CITY JR HIGH SCHOOL
    900 12TH STREET
    TELL CITY,IN47586     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 13,535
    MATTHEW 25 AIDS SERVICES
    452 OLD CORYDON ROAD
    HENDERSON,KY42420     		N/A PUBLIC COMMUNITY HEALTH STATUS 7,500
    ECHO COMMUNITY HEALTH CARE
    315 MULBERRY ST
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 10,000
    HOSPITALITY & OUTREACH FOR LATIN AM
    123 MAIN ST
    EVANSVILLE,IN47710     		N/A PUBLIC COMMUNITY HEALTH STATUS 15,000
    HOLY NAME OF JESUS CATHOLIC CHURCH
    511 SECOND STREET
    HENDERSON,KY42420     		N/A PUBLIC COMMUNITY HEALTH STATUS 8,250
    DEACONESS FAMILY MEDICINE RESIDENCY
    515 READ STREET
    EVANSVILLE,IN47710     		N/A PUBLIC COMMUNITY HEALTH STATUS 14,500
    ECHO COMMUNITY HEALTH CARE
    315 MULBERRY ST
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 10,000
    VOLUNTEERS OF AMERICA OF INDIANA
    811 E FRANKLIN STREET
    EVANSVILLE,IN47711     		N/A PUBLIC COMMUNITY HEALTH STATUS 7,500
    KOCH FAMILY CHILDREN'S MUSEUM OF EV
    PO BOX 122
    EVANSVILLE,IN47701     		N/A PUBLIC COMMUNITY HEALTH STATUS 25,000
    COUNSELING FOR CHANGE INC
    1130 LINCOLN AVE
    EVANSVILLE,IN47714     		N/A PUBLIC COMMUNITY HEALTH STATUS 12,000
    ECHO HOUSING CORP
    414 BAKER AVENUE
    EVANSVILLE,IN47710     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 10,000
    LITTLE LAMBS
    609 SOUTHEAST SECOND STRE
    EVANSVILLE,IN47713     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 7,200
    COLLEGE MENTOR FOR KIDS INC
    212 W 10TH ST SUITE B26
    INDIANAPOLIS,IN46202     		N/A PUBLIC MENTORING PROGRAM 5,000
    IMPACT CHRISTIAN HEALTH CENTER
    720 SE EIGHTH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 10,000
    EVANSVILLE CHRISTIAN LIFE CENTER
    509 S KENTUCKY AVE
    EVANSVILLE,IN47714     		N/A PUBLIC COMMUNITY HEALTH STATUS 10,000
    ST MARY'S HEALTHY LIVES
    3700 WASHINGTON AVE
    EVANSVILLE,IN47750     		N/A PUBLIC IMPROVED PHYSICAL ACTIVITY AND NUTRI 175
    MARY HELP OF CHRISTIANS
    6827 E CITY R 1930 N
    MARIAH HILL,IN47556     		N/A PUBLIC HEALTH MINISTRIES 1,219
    ST NICHOLAS CATHOLIC CHURCH
    PO BOX 351
    SANTA CLAUS,IN47579     		N/A PUBLIC HEALTH MINISTRIES 930
    ST JOSEPH CATHOLIC CHURCH
    8 MAPLE ST
    DALE,IN47523     		N/A PUBLIC HEALTH MINISTRIES 913
    ST ANTHONY OF PADUA CATHOLIC CHURC
    4442 OHIO ST
    ST ANTHONY,IN47575     		N/A PUBLIC HEALTH MINISTRIES 450
    ST JOHN'S LUTHERAN CHURCH
    12308 EAST CR 1160N
    EVANSTON,IN47531     		N/A PUBLIC HEALTH MINISTRIES 450
    OAK HILL BAPTIST CHURCH
    4615 OAK HILL ROAD
    EVANSVILLE,IN47711     		N/A PUBLIC HEALTH MINISTRIES 450
    NATIVITY CATHOLIC CHURCH
    3635 POLLACK AVENUE
    EVANSVILLE,IN47714     		N/A PUBLIC HEALTH MINISTRIES 450
    ST JOHN'S LUTHERAN CHURCH
    5015 E STATE RD 56
    DUBOIS,IN47527     		N/A PUBLIC HEALTH MINISTRIES 450
    CROSSROADS CHRISTIAN CHURCH
    10800 LINCOLN AVE
    NEWBURGH,IN47630     		N/A PUBLIC HEALTH MINISTRIES 450
    CHRISTIAN CHURCH OF JASPER
    1450 ENERGY DRIVE
    JASPER,IN47546     		N/A PUBLIC HEALTH MINISTRIES 450
    PETERSBURG UNITED METHODIST CHURCH
    9TH AND WALNUT
    PETERSBURG,IN47567     		N/A PUBLIC HEALTH MINISTRIES 400
    ST FERDINAND CATHOLIC CHURCH
    PO BOX 156
    FERDINAND,IN47532     		N/A PUBLIC HEALTH MINISTRIES 400
    ST MARY'S CATHOLIC CHURCH
    2829 N 500 W
    IRELAND,IN47545     		N/A PUBLIC HEALTH MINISTRIES 400
    HOLLAND UNITED METHODIST CHURCH
    105 N SECOND AVE
    HOLLAND,IN47541     		N/A PUBLIC HEALTH MINISTRIES 400
    SANTA CLAUS UNITED METHODIST CHURCH
    16402 NSR 245
    SANTA CLAUS,IN47579     		N/A PUBLIC HEALTH MINISTRIES 400
    ST HENRY CATHOLIC CHURCH
    1311 W 1100 S
    FERDINAND,IN47532     		N/A PUBLIC HEALTH MINISTRIES 800
    THE COMMITTEE TO PROMOTE RESPECT IN
    501 SCENIC DRIVE
    EVANSVILLE,IN47715     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 2,500
    OZANAM FAMILY SHELTER
    1100 READ STREET
    EVANSVILLE,IN47710     		N/A PUBLIC COMMUNITY HEALTH STATUS 8,150
    COMMUNITY ACTION PROGRAM OF EVANSVI
    27 PASCO AVENUE
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 1,000
    EVANSVILLE AREA FUNDRAISING COUNCIL
    PO BOX 114
    EVANSVILLE,IN47701     		N/A PUBLIC COMMUNITY HEALTH STATUS 1,454
    Total .................................bullet 3a 2,686,904
    bApproved for future payment
    COMMUNITY COORDINATED CHILD CARE
    600 SE 6TH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC EARLY CHILDHOOD DEVELOPMENT 398,000
    ENCOUNTERING HOPE MINISTRIES INC
    304 NORTH SECOND STREET
    BOONVILLE,IN47601     		N/A PUBLIC FAITH BASED 37,500
    GOOD NEWS JAIL & PRISON MINISTRY
    130 WEST 6TH ST
    MT CARMEL,IL62863     		N/A PUBLIC FAITH BASED 40,000
    POTTER'S WHEEL
    333 JEFFERSON AVE
    EVANSVILLE,IN47713     		N/A PUBLIC FAITH BASED 30,000
    TTT CHRISTIAN YOUTH HOME INC
    13000 US HWY 41 N
    EVANSVILLE,IN47725     		N/A PUBLIC FAITH BASED 22,500
    YOUNG LIFE
    8114 BURCH PARK DR
    EVANSVILLE,IN47725     		N/A PUBLIC FAITH BASED 56,250
    MEDIA MINISTRIES INC
    4630 BAYARD PARK DRIVE
    EVANSVILLE,IN47714     		N/A PUBLIC FAITH BASED 56,250
    YMCA OF SOUTHWESTERN INDIANA
    222 NW SIXTH STREET
    EVANSVILLE,IN47708     		N/A PUBLIC COMMUNITY FITNESS 250,000
    FRIENDS OF GILDA'S CLUB
    PO BOX 5134
    EVANSVILLE,IN47716     		N/A PUBLIC COMMUNITY HEALTH STATUS 225,000
    GOSPEL EXPRESS MISSIONS MINISTRIES
    120 FIRST STREET
    BOONVILLE,IN47601     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 24,000
    EVANSVILLE ARC
    615 W VIRGINIA STREET
    EVANSVILLE,IN47724     		N/A PUBLIC PROGRAM DOCUMENTATION SYSTEM 80,000
    IMPACT CHRISTIAN HEALTH CENTER
    720 SE EIGHTH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 30,000
    WADESVILLE CENTER TOWNSHIP VOLUNTEE
    PO BOX 180
    WADESVILLE,IN47638     		N/A PUBLIC COMMUNITY HEALTH STATUS 5,000
    THE UNITED CARING SHELTER INC
    324 NW SIXTH STREET
    EVANSVILLE,IN47734     		N/A PUBLIC COMMUNITY HEALTH STATUS 25,000
    YOUNG WOMEN'S CHRISTIAN ASSOCIATION
    118 VINE STREET
    EVANSVILLE,IN47708     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 80,000
    LAMPION CENTER
    655 S HEBRON AVE
    EVANSVILLE,IN47714     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 63,750
    CARVER COMMUNITY ORGANIZATION
    400 SE 8TH STREET
    EVANSVILLE,IN47713     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 60,000
    NEW HOPE DEVELOPMENET CORPORATION
    663 SOUTH ELLIOTT STREET
    EVANSVILLE,IN47713     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 60,000
    BOOM SQUAD INC
    PO BOX 3902
    EVANSVILLE,IN47737     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 30,000
    YOUTH FIRST INC
    3220 E MORGAN AVE
    EVANSVILLE,IN47715     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 350,000
    SOUTHERN HILLS COUNSELING CENTER
    480 EVERSMAN DRIVE
    JASPER,IN47547     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 27,000
    YOUTH SERVICE BUREAU
    734 W DELAWARE ST
    EVANSVILLE,IN47710     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 30,000
    EVANSVILLE-VANDERBURGH SCHOOL CORP
    1 SE NINTH STREET
    EVANSVILLE,IN47708     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 212,017
    CEDAR CREST INTERMEDIATE SCHOOL
    4770 SOUTH STATE RD 162
    HUNTINGBURG,IN47542     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 13,445
    SOUTH ELEMENTARY SCHOOL
    715 W 3RD STREET
    MT CARMEL,IL62863     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 8,735
    SOUTH MIDDLE SCHOOL
    800 ALVES STREET
    HENDERSON,KY42420     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 12,405
    NORRIS CITY - OMAHA ELEMENTARY
    580 US 45
    NORRIS CITY,IL62869     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 9,960
    LUCE ELEMENTARY
    1057 NORTH COUNTY ROAD
    RICHLAND,IN47634     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 9,733
    FIFTH STREET ELEMENARY
    401 WEST 5TH STREET
    JASPER,IN47546     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 6,960
    MT CARMEL HIGH SCHOOL
    201 PEAR STREET
    MT CARMEL,IL62863     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 5,735
    TELL CITY JR HIGH SCHOOL
    900 12TH STREET
    TELL CITY,IN47586     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 6,035
    MATTHEW 25 AIDS SERVICES
    452 OLD CORYDON ROAD
    HENDERSON,KY42420     		N/A PUBLIC COMMUNITY HEALTH STATUS 22,500
    ECHO COMMUNITY HEALTH CARE
    315 MULBERRY ST
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 30,000
    HOLY NAME OF JESUS CATHOLIC CHURCH
    511 SECOND STREET
    HENDERSON,KY42420     		N/A PUBLIC COMMUNITY HEALTH STATUS 24,750
    ECHO COMMUNITY HEALTH CARE
    315 MULBERRY ST
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 55,000
    DEACONESS FOUNDATION
    600 MARY STREET
    EVANSVILLE,IN47747     		N/A PUBLIC COMMUNITY HEALTH STATUS 42,000
    DEACONESS FAMILY MEDICINE RESIDENCY
    515 READ STREET
    EVANSVILLE,IN47710     		N/A PUBLIC COMMUNITY HEALTH STATUS 43,500
    ST MARY'S FOUNDATION
    3700 WASHINGTON AVE
    EVANSVILLE,IN47750     		N/A PUBLIC COMMUNITY HEALTH STATUS 60,000
    ECHO COMMUNITY HEALTH CARE
    315 MULBERRY ST
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 30,000
    VOLUNTEERS OF AMERICA OF INDIANA
    811 E FRANKLIN STREET
    EVANSVILLE,IN47711     		N/A PUBLIC COMMUNITY HEALTH STATUS 22,500
    COUNSELING FOR CHANGE INC
    1130 LINCOLN AVE
    EVANSVILLE,IN47714     		N/A PUBLIC COMMUNITY HEALTH STATUS 36,000
    SOUTH EVANSVILLE COMMUNITY OUTREACH
    756 LINE STREET
    EVANSVILLE,IN47713     		N/A PUBLIC COMMUNITY HEALTH STATUS 30,000
    WESSELMAN NATURE SOCIETY
    551 N BOEKE ROAD
    EVANSVILLE,IN47711     		N/A PUBLIC HEALTHY ADOLESCENT DEVELOPMENT 5,000
    TO BE DETERMINED
    21 SE THIRD STREET
    EVANSVILLE,IN47708     		N/A PUBLIC IMPROVED PHYSICAL ACTIVITY AND NUTRI 415,000
    PERRY CENTERAL ELEMENTARY
    18677 OLD STATE ROAD 37
    LEOPOLD,IN47551     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 1,800
    WILLIAM TELL ELEMENTARY
    1235 31ST STREET
    TELL CITY,IN47586     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 1,800
    WOOD MEMORIAL JR HIGH
    954A SOUTH FRANKLIN ST
    OAKLAND CITY,IN47660     		N/A PUBLIC SCHOOL BASED HEALTH PROGRAM 1,800
    ST JOSEPH CATHOLIC CHURCH
    8 MAPLE STREET
    DALE,IN47523     		N/A PUBLIC HEALTH MINISTRIES 400
    Total .................................bullet 3b 3,087,325
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 71  
    4 Dividends and interest from securities....     14 6,716,445  
    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     18 154,845  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aDISCONTINUED OPERATIONS     18 3,122  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   6,874,483  
    13Total. Add line 12, columns (b), (d), and (e)..................
    136,874,483
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2011)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    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
    2011
    Name of organization
    WELBORN BAPTIST FOUNDATION INC
     
    Employer identification number

    35-2056722
    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 on line H of its
    Form 990-EZ or on Part I, 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) (2011)

    Page 2
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    WELBORN BAPTIST FOUNDATION INC
          		Employer identification number

    35-2056722
    Part I
    Contributors (see Instructions). Use duplicate copies of Part I if additional space is needed.
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    INDIANA STATE DEPT OF HEALTH    
    2 NORTH MERIDIAN STREET
       
    INDIANAPOLIS, IN   46204

    		$1,100,000




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

         
     
       

    		$  




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

         
     
       

    		$  




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

         
     
       

    		$  




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

         
     
       

    		$  




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

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 3
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    WELBORN BAPTIST FOUNDATION INC
          		Employer identification number

    35-2056722
    Part II
    Noncash Property (see Instructions). Use duplicate copies of Part II if additional space is needed.
    		     
    (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) (2011)

    Page 4
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    WELBORN BAPTIST FOUNDATION INC
          		Employer identification number

    35-2056722
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    that total 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 $  
    Use duplicate copies of Part III if additional space is needed
    (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) (2011)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2011 AccountingFeesSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FINANCIAL AUDIT 15,585     14,000
    SINGLE AUDIT 3,600     3,600
    JOURNAL ENTRY REVIEW 3,152     2,527

    TY 2011 CompensationExplanation
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Person Name Explanation
    W HAROLD CALLOWAY  
    LISA N COLLINS  
    JOHN M DUNN  
    RITA EYKAMP  
    C MARK HUBBARD  
    THOMAS KAZEE  
    E LYNN JOHNSON  
    MARILYN KLENCK  
    DAVID L KNAPP  
    CONNIE K NASS  
    JOHN D PULCINI MD FACS  
    ELLIS S REDD  
    RONALD ROMAIN  
    DANIEL SCHENK  
    JALEIGH J WHITE  
    KEVIN BAIN  
    JOHN C SCHROEDER  

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    TY 2011 DepreciationSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    COMPUTER WORK STATIONS 2004-04-25 4,821 4,821 STRAIGHT LINE 5.0000        
    COMPUTER WORK STATION 2006-03-23 8,388 8,388 STRAIGHT LINE 3.0000        
    COMPUTER WORK STATION 2007-10-16 3,143 3,143 STRAIGHT LINE 3.0000        
    COMPUTER WORKSTATION 2008-05-15 2,744 2,440 STRAIGHT LINE 3.0000 304      
    COMPUTER WORKSTATION 2008-11-21 2,097 1,515 STRAIGHT LINE 3.0000 582      
    COMPUTER WORKSTATION 2009-02-20 2,816 1,800 STRAIGHT LINE 3.0000 939      
    COMPUTER WORKSTATION 2009-07-28 1,599 1,107 STRAIGHT LINE 3.0000 492      
    COMPUTER WORKSTATION 2010-04-23 2,396 599 STRAIGHT LINE 3.0000 798      
    COMPUTER WORKSTATION 2010-06-14 1,415 275 STRAIGHT LINE 3.0000 472      
    COMPUTER WORKSTATION 2011-01-17 1,522   STRAIGHT LINE 3.0000 507      
    COMPUTER WORKSTATION 2011-02-14 3,634   STRAIGHT LINE 3.0000 1,111      
    COMPUTER WORKSTATION 2011-12-19 1,249   STRAIGHT LINE 3.0000 35      
    COMPUTER WEB SERVER 2004-04-25 824 824 STRAIGHT LINE 5.0000        
    COMPUTER WEB SERVER 2007-06-26 2,055 2,055 STRAIGHT LINE 5.0000        
    TELECOMMUNICATIONS EQUIPMENT 2004-04-25 5,608 5,608 STRAIGHT LINE 7.0000        
    TELECOMMUNICATIONS EQUIPMENT 2008-07-30 8,580 2,758 STRAIGHT LINE 7.0000 1,226      
    FURNITURE 2004-04-25 50,826 49,637 STRAIGHT LINE 10.0000 1,189      
    FURNITURE 2008-10-20 3,852 868 STRAIGHT LINE 10.0000 386      
    FURNITURE 2008-11-10 29,001 6,283 STRAIGHT LINE 10.0000 2,900      
    FURNITURE 2008-11-21 1,068 232 STRAIGHT LINE 10.0000 107      
    FURNITURE 2008-11-24 9,436 2,045 STRAIGHT LINE 10.0000 944      
    FURNITURE 2008-12-17 19,697 4,103 STRAIGHT LINE 10.0000 1,970      
    FURNITURE 2009-01-27 1,544 441 STRAIGHT LINE 10.0000 221      
    FURNITURE 2010-12-27 2,215   STRAIGHT LINE 10.0000 406      
    FURNITURE 2011-03-08 8,694   STRAIGHT LINE 10.0000 724      
    FURNISHINGS 2004-04-25 14,421 14,421 STRAIGHT LINE 10.0000        
    FURNISHINGS 2008-11-10 949 206 STRAIGHT LINE 10.0000 95      
    FURNISHINGS 2009-01-27 1,811 362 STRAIGHT LINE 10.0000 181      
    FURNISHINGS 2010-12-07 2,274 758 STRAIGHT LINE 10.0000 1,516      
    LEASEHOLD IMPROVEMENTS 2004-04-25 53,267 32,528 STRAIGHT LINE 15.0000 4,879      
    LEASEHOLD IMPROVEMENTS 2008-12-31 202,814 24,789 STRAIGHT LINE 15.0000 13,521      
    LEASEHOLD IMPROVEMENTS 2009-02-20 27,209 3,326 STRAIGHT LINE 15.0000 1,813      
    ELECTRONICS EQUIPMENT 2006-03-13 1,582 1,582 STRAIGHT LINE 3.0000        
    SOFTWARE 2004-04-25 514 514 STRAIGHT LINE 5.0000        
    SOFTWARE 2004-04-25 1,153 1,153 STRAIGHT LINE 3.0000        
    SOFTWARE 2009-01-09 4,666 3,110 STRAIGHT LINE 3.0000 1,556      
    SOFTWARE 2009-01-27 5,144 3,286 STRAIGHT LINE 3.0000 1,715      
    SOFTWARE 2009-12-31 1,065 385 STRAIGHT LINE 3.0000 355      
    SOFTWARE 2010-03-18 547 152 STRAIGHT LINE 3.0000 182      
    SOFTWARE 2010-04-21 10,180   STRAIGHT LINE 3.0000        
    COMPUTER OFFICE SERVER 2004-04-25 3,252 3,252 STRAIGHT LINE 5.0000        
    COMPUTER OFFICE SERVER 2005-04-11 6,156 6,156 STRAIGHT LINE 5.0000        
    COMPUTER OFFICE SERVER 2005-06-01 536 536 STRAIGHT LINE 5.0000        
    COMPUTER OFFICE SERVER 2007-12-26 1,278 1,278 STRAIGHT LINE 3.0000        
    COMPUTER OFFICE SERVER 2008-01-17 8,770 8,770 STRAIGHT LINE 3.0000        
    COMPUTER OFFICE SERVER 2008-07-29 5,650 2,825 STRAIGHT LINE 5.0000 1,130      
    COMPUTER OFFICE SERVER 2008-09-11 2,966 2,308 STRAIGHT LINE 3.0000 658      
    COMPUTER OFFICE SERVER 2009-02-10 4,737 3,026 STRAIGHT LINE 3.0000 1,579      
    COMPUTER OFFICE SERVER 2010-03-18 3,095 960 STRAIGHT LINE 3.0000 1,152      
    COMPUTER OFFICE SERVER 2010-04-07 896 224 STRAIGHT LINE 3.0000 299      
    PAINTINGS 2004-04-25 372 372 STRAIGHT LINE 10.0000        
    DRAPERIES 2004-04-25 1,095 1,095 STRAIGHT LINE 7.0000        
    TELEVISION & VCRS 2004-04-25 348 348 STRAIGHT LINE 5.0000        
    FAX MACHINE 2004-04-25 17 17 STRAIGHT LINE 5.0000        
    FAX MACHINE 2009-03-18 599 190 STRAIGHT LINE 5.0000 120      
    TYPEWRITER 2004-04-25 96 96 STRAIGHT LINE 5.0000        
    COPIER 2004-04-25 4,436 4,436 STRAIGHT LINE 7.0000        
    COPIER 2008-06-11 11,289 4,166 STRAIGHT LINE 7.0000 1,612      
    OFFICE APPLIANCES 2004-04-25 172 172 STRAIGHT LINE 5.0000        
    OFFICE APPLIANCES 2007-10-01 1,400 910 STRAIGHT LINE 5.0000 280      
    OFFICE APPLIANCES 2008-10-29 2,225 1,001 STRAIGHT LINE 5.0000 445      

    TY 2011 EmployeeCompensationExpln
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Employee Explanation
    GARY BAUER  
    PATRICK JACKSON  
    RHONDA MEADE  
    ANDREA HAYS  
    ELIZABETH THARP  

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    TY 2011 GainLossSaleOtherAssetsSch
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    CONTINENTAL AIRLS PASS THRU 2006-03 PURCHASE 2011-01   9,529 9,529        
    FEDERAL HOME LOAN BANK12/03/10 0.60 2010-12 PURCHASE 2011-01   260,000 260,000        
    MST 6 A14/01/1997 7.340 7/01/2035 2004-08 PURCHASE 2011-01   2,744 2,744        
    MDST 6 A24/1/1997 7.400 7/1/2035 2003-06 PURCHASE 2011-01   274 274        
    FEDERAL HOME LOAN BANKDISCOUNT NOTE 2010-10 PURCHASE 2011-01   119,945 119,945        
    FANNIE MAE DUE 01/12/2011DISCOUNT 2007-10 PURCHASE 2011-01   164,932 164,932        
    FANNIE DISCOUNT NOTE0.000 1/19/2011 2010-07 PURCHASE 2011-01   204,754 204,754        
    NCUA GTD NTS10/27/10 VAR 10/07/20S 2010-10 PURCHASE 2011-01   3,567 3,567        
    NCUA GTD NTS12/09/10 VAR 12/08/20S 2010-12 PURCHASE 2011-01   1,499 1,499        
    US TREASURY BILLDUE 02/10/11 2010-11 PURCHASE 2011-01   349,863 349,863        
    UNITED STATES TREAS BILLSDUE 01/27/ 2010-12 PURCHASE 2011-01   144,966 144,966        
    TSY INFL IX N/B1/15/2002 3.375 1/15 2010-12 PURCHASE 2011-01   51,559 51,350     209  
    TSY INFL IX N/B1/15/2002 3.375 1/15 2010-12 PURCHASE 2011-01   51,551 51,350     201  
    US TREASURY N/B8/31/09 1.000 8/31/1 2010-10 PURCHASE 2011-01   85,425 85,606     -181  
    UNITED STATES TREAS NTS02/16/10 3.6 2010-10 PURCHASE 2011-01   791,142 853,022     -61,880  
    US TREASURY NOTE04/30/10 3.1250 04/ 2010-11 PURCHASE 2011-01   61,804 65,862     -4,058  
    UNITED STATES TREAS NTS08/31/10 1.8 2010-11 PURCHASE 2011-01   345,922 367,308     -21,386  
    CD 2007-CD5 A411/01/07 VAR 11/15/44 2009-03 PURCHASE 2011-01   124,240 69,575     54,665  
    CSMC 2006-C1 A33/1/2006 VAR 2/15/20 2005-03 PURCHASE 2011-01   121,698 115,575     6,123  
    NCUA GTD NTS TR11/17/10 VAR 11/06/1 2010-11 PURCHASE 2011-01   4,525 4,525        
    NCUA GTD NTS12/09/10 VAR 12/08/20S 2010-12 PURCHASE 2011-01   118,222 118,185     37  
    US TREASURY NOTE04/30/10 3.1250 04/ 2010-11 PURCHASE 2011-01   207,491 219,539     -12,048  
    US TREASURY BILLDUE 02/10/11 2011-01 PURCHASE 2011-01   264,961 264,961        
    US TREASURY N/B04/30/09 0.875 04/30 2010-08 PURCHASE 2011-01   75,158 75,337     -179  
    VALERO ENERGY CORP03/17/09 9.375 03 2009-03 PURCHASE 2011-01   22,810 17,976     4,834  
    NCUA GTD NTS TR11/17/10 VAR 11/06/1 2010-11 PURCHASE 2011-01   250,909 250,831     78  
    NCUA GTD NTS10/27/10 VAR 10/07/20S 2010-10 PURCHASE 2011-01   248,794 248,774     20  
    NCUA GTD NTS12/09/10 VAR 12/08/20S 2010-12 PURCHASE 2011-01   98,562 98,501     61  
    US TREASURY NOTE04/30/10 3.1250 04/ 2010-11 PURCHASE 2011-01   103,680 109,770     -6,090  
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-01   9,413 9,413        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-01   8,157 8,157        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-01   6,246 6,246        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-01   795 795        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-01   750 750        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-01   3,100 3,100        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-01   2,055 2,055        
    TSY INFL IX N/B1/16/2001 3.500 1/15 2010-09 PURCHASE 2011-01   238,805 240,432     -1,627  
    TSY INFL IX N/B1/15/2002 3.375 1/15 2010-12 PURCHASE 2011-01   51,590 51,350     240  
    US TREASURY N/B11/15/09 3.375 11/15 2010-08 PURCHASE 2011-01   102,203 103,482     -1,279  
    US TREASURY N/B11/15/09 3.375 11/15 2010-08 PURCHASE 2011-01   163,899 165,571     -1,672  
    US TREASURY NOTE04/30/10 3.1250 04/ 2010-11 PURCHASE 2011-01   362,852 384,193     -21,341  
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-01   5,105 5,105        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-01   1,996 1,996        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-01   1,380 1,380        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-01   397 397        
    US TREASURY N/B12/31/10 2.750 12/ 2011-01 PURCHASE 2011-01   215,983 215,538     445  
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-01   1,805 1,805        
    US TREASURY NOTES12/31/2010 2.1250 2011-01 PURCHASE 2011-01   181,089 181,133     -44  
    US TREASURY NOTES12/31/2010 2.1250 2011-01 PURCHASE 2011-01   230,725 231,448     -723  
    US TREASURY NOTES12/31/2010 2.1250 2011-01 PURCHASE 2011-01   325,863 327,046     -1,183  
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-01   1,255 1,255        
    BSABS 2002-1 1A53/1/2002 STEP CPN 1 2004-06 PURCHASE 2011-01   5,321 5,321        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-01   186 186        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-01   213 213        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-01   4,043 4,043        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-01   29 29        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2004-04 DONATION 2011-01   1,116 1,116        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-01   102 102        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-01   350 350        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-01   147 147        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-01   68 68        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-01   3,617 3,617        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-01   4,496 4,496        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-01   1,014 1,014        
    FN 7653878/1/2004 6.000 8/1/2034 2004-08 PURCHASE 2011-01   2,502 2,502        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-01   2,219 2,219        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-01   23,189 23,189        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-01   87 87        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-01   125 125        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-01   98 98        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-01   2,930 2,930        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-01   10,154 10,154        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-01   674 674        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-01   12,533 12,533        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-01   2,505 2,505        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-01   1,457 1,457        
    US TREASURY NOTES12/31/2010 2.1250 2011-01 PURCHASE 2011-01   110,653 110,692     -39  
    US TREASURY NOTES12/31/2010 2.1250 2011-01 PURCHASE 2011-01   150,914 150,944     -30  
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-01   2,445 2,445        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-01   366 366        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-01   896 896        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-01   3,012 3,012        
    FREDDIE MAC07/26/10 1.400 07/26/13 2010-07 PURCHASE 2011-01   205,000 205,000        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-01   513 513        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-01   2,206 2,206        
    TSY INFL IX N/B1/17/2006 2.000 1/15 2008-10 PURCHASE 2011-01   127,327 118,712     8,615  
    TSY INFL IX N/B1/17/2006 2.000 1/15 2008-10 PURCHASE 2011-01   133,368 124,364     9,004  
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-01   5 5        
    US TREASURY N/B12/31/10 2.750 12/ 2011-01 PURCHASE 2011-01   209,738 210,525     -787  
    NCUA GTD NTS TR 11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-01   601 601        
    ICM SMALL COMPANY PORT-IN 2004-04 DONATION 2011-01   385,000 409,895     -24,895  
    ADVISORS INNER CIRCLE FD II PERI 2008-06 PURCHASE 2011-01   375,000 355,943     19,057  
    MFS INSTL INTL EQUITY FUND 2005-01 PURCHASE 2011-01   115,000 105,139     9,861  
    TEMPLETON INSTL FDS INCFOREIGN EQUI 2004-04 DONATION 2011-01   40,000 39,264     736  
    VANGUARD REIT INDEX FUND 2007-07 PURCHASE 2011-01   125,000 151,837     -26,837  
    VANGUARD INSTITUTIONAL INDEXFUND 9 2004-04 PURCHASE 2011-01   5,350,000 4,770,588     579,412  
    VALERO ENERGY CORP03/17/09 9.375 03 2009-03 PURCHASE 2011-02   50,985 39,947     11,038  
    UNITED STATES TREAS NTSDTD 0032900 2011-01 PURCHASE 2011-02   312,908 314,016     -1,108  
    US TREASURY N/B11/15/09 3.375 11/15 2010-11 PURCHASE 2011-02   179,317 186,267     -6,950  
    FN 7653878/1/2004 6.000 8/1/2034 2004-08 PURCHASE 2011-02   170,538 163,600     6,938  
    US TREASURY BILLDUE 02/10/11 2011-01 PURCHASE 2011-02   44,995 44,995        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-02   10 10        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-02   5,855 5,855        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-02   2,968 2,968        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-02   1,006 1,006        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-02   1,414 1,414        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-02   1,193 1,193        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-02   1,022 1,022        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-02   2,399 2,399        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-02   2,466 2,466        
    UNITED STATES TREAS BILLSMATURITY D 2011-01 PURCHASE 2011-02   254,969 254,969        
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-02   2,826 2,826        
    UNITED STATES TREAS BILLSMATURITY D 2011-01 PURCHASE 2011-02   464,952 464,952        
    BNP PARIBAS FIN INCDISCOUNT COMMERC 2011-01 PURCHASE 2011-02   194,952 194,952        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-02   1,391 1,391        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-02   846 846        
    SHURGARD STORAGE CTRS INCNT DTD 02/ 2006-03 PURCHASE 2011-02   315,000 342,903     -27,903  
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-02   2,308 2,308        
    TSY INFL IX N/B1/15/2002 3.375 1/15 2010-12 PURCHASE 2011-02   51,801 51,350     451  
    UNITED STATES TREAS NTSDTD 0032900 2011-01 PURCHASE 2011-02   412,162 413,704     -1,542  
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-02   1,182 1,182        
    BSABS 2002-1 1A53/1/2002 STEP CPN 1 2004-06 PURCHASE 2011-02   2,119 2,119        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-02   191 191        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-02   3,247 3,247        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-02   1,998 1,998        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-02   19 19        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2003-03 PURCHASE 2011-02   1,015 1,015        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-02   127 127        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-02   358 358        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-02   157 157        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-02   74 74        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-02   283 283        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-02   4,230 4,230        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-02   200 200        
    FN 7653878/1/2004 6.000 8/1/2034 2004-08 PURCHASE 2011-02   2,644 2,644        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-02   30 30        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-02   237 237        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-02   87 87        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-02   126 126        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-02   98 98        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-02   62 62        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-02   4,057 4,057        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-02   2,646 2,646        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-02   8,608 8,608        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-02   1,072 1,072        
    UNITED STATES TREAS NTSDTD 0032900 2011-01 PURCHASE 2011-02   59,548 59,813     -265  
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-02   2,805 2,805        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-02   3,455 3,455        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-02   3,920 3,920        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-02   2,527 2,527        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-02   376 376        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-02   2,212 2,212        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-02   1,941 1,941        
    NCUA GTD NTS12/09/10 VAR 12/08/20S 2010-12 PURCHASE 2011-02   1,499 1,499        
    SASC 1997-2 2A410/1/1997 7.250 3/28 1999-03 PURCHASE 2011-03   6 6        
    LEHMAN BROTHERS HOLDINGS11/30/2005 2005-11 PURCHASE 2011-03   29,191 116,614     -87,423  
    LEHMAN BROTHERS HOLDINGS6/20/2006 V 2006-06 PURCHASE 2011-03   46,320 192,000     -145,680  
    LEHMAN BROTHERS HOLDINGS11/7/2006 V 2006-10 PURCHASE 2011-03   41,013 170,000     -128,987  
    LEHMAN BROTHERS HOLDINGS2/16/2007 V 2007-02 PURCHASE 2011-03   19,300 80,000     -60,700  
    U S TREASURY NOTE09/30/09 3.000 09/ 2011-01 PURCHASE 2011-03   10,255 10,389     -134  
    U S TREASURY NOTE09/30/09 3.000 09/ 2011-01 PURCHASE 2011-03   10,254 10,389     -135  
    US TREASURY BILLDUE 03/10/11 2011-02 PURCHASE 2011-03   214,977 214,977        
    US TREASURY N/B11/15/09 3.375 11/15 2010-11 PURCHASE 2011-03   116,109 119,004     -2,895  
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-03   3,408 3,408        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-03   5,066 5,066        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-03   5,097 5,097        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-03   324 324        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-03   1,620 1,620        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-03   1,199 1,199        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-03   2,303 2,303        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-03   3,161 3,161        
    FEDERAL HOME LOAN BANK02/15/11 0.50 2011-02 PURCHASE 2011-03   185,000 185,000        
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-03   2,423 2,423        
    CONTINENTAL AIRLINES INC6/17/1999 6 2004-12 PURCHASE 2011-03   1,217 1,217        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-03   2,872 2,872        
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-03   750 750        
    U S TREASURY NOTE09/30/09 3.000 09/ 2011-01 PURCHASE 2011-03   5,222 5,195     27  
    UNITED STATES TREAS NTSDTD 0032900 2011-01 PURCHASE 2011-03   357,233 353,892     3,341  
    US TREASURY NOTES02/28/11 2.125 02/ 2011-03 PURCHASE 2011-03   20,215 19,920     295  
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-03   231 231        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-03   1,253 1,253        
    NATIONAL RURAL UTILS COOP FINDISC C 2011-01 PURCHASE 2011-03   189,930 189,930        
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-03   1,841 1,841        
    US TREASURY NOTES02/28/11 2.125 02/ 2011-03 PURCHASE 2011-03   5,030 4,980     50  
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-03   3,115 3,115        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-03   1,334 1,334        
    BSABS 2002-1 1A53/1/2002 STEP CPN 1 2004-06 PURCHASE 2011-03   246 246        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-03   3,883 3,883        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-03   817 817        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-03   2,606 2,606        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-03   40 40        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2004-04 DONATION 2011-03   954 954        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-03   21 21        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-03   1,915 1,915        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-03   302 302        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-03   167 167        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-03   71 71        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-03   285 285        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-03   4,694 4,694        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-03   708 708        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-03   5,524 5,524        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-03   8,093 8,093        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-03   158 158        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-03   179 179        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-03   154 154        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-03   820 820        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-03   163 163        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-03   4,079 4,079        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-03   2,342 2,342        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-03   279 279        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-03   1,564 1,564        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-03   742 742        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-03   1,737 1,737        
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-03   1,879 1,879        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-03   3,272 3,272        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-03   2,823 2,823        
    FEDERAL HOME LN BKS06/28/10 STEP CP 2010-08 PURCHASE 2011-03   180,000 180,360     -360  
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-03   5 5        
    AMERICAN AIRLINES INC6/20/2002 6.97 2004-04 DONATION 2011-04   3,822 4,778     -956  
    FREDDIE MAC09/10/2010 1.750 09/10/2 2010-09 PURCHASE 2011-04   231,233 234,328     -3,095  
    MDST 6 A24/1/1997 7.400 7/1/2035 2003-06 PURCHASE 2011-04   213 213        
    MST 6 A14/01/1997 7.340 7/01/2035 2004-08 PURCHASE 2011-04   2,133 2,133        
    NCUA GTD NTS02/28/11 VAR 03/09/21S 2011-02 PURCHASE 2011-04   3,421 3,421        
    US TREASURY N/B04/30/09 0.875 04/30 2010-08 PURCHASE 2011-04   795,401 798,577     -3,176  
    FANNIE MAE09/08/10 1.500 09/08/14 2010-08 PURCHASE 2011-04   238,598 240,000     -1,402  
    UNITED STATES TREAS NTS03/31/11 2.8 2011-03 PURCHASE 2011-04   244,548 244,480     68  
    UNITED STATES TREAS NTS03/31/11 2.2 2011-03 PURCHASE 2011-04   210,229 210,401     -172  
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-04   3,264 3,264        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-04   821 821        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-04   4,473 4,473        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-04   5,927 5,927        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-04   955 955        
    FG G0624202/01/11 4.500 09/01/40 2011-02 PURCHASE 2011-04   3,093 3,093        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-04   1,630 1,630        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-04   594 594        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-04   2,329 2,329        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-04   2,328 2,328        
    FREDDIE MAC DISCOUNT NTDUE 04/15/20 2011-03 PURCHASE 2011-04   185,974 185,974        
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-04   963 963        
    MORGAN ST DEAN WDTD 4/23/01 6.75% D 2008-09 PURCHASE 2011-04   5,000 3,650     1,350  
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-04   3,754 3,754        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-04   1,021 1,021        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-04   551 551        
    UNITED STATES TREAS NTS03/31/11 2.2 2011-04 PURCHASE 2011-04   171,474 170,325     1,149  
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-04   1,699 1,699        
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-04   1,947 1,947        
    BSABS 2002-1 1A53/1/2002 STEP CPN 1 2004-06 PURCHASE 2011-04   4,161 4,161        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-04   204 204        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-04   248 248        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-04   1,773 1,773        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-04   32 32        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2004-04 DONATION 2011-04   947 947        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-04   120 120        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-04   2,129 2,129        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-04   57 57        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-04   127 127        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-04   78 78        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-04   287 287        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-04   7,940 7,940        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-04   1,100 1,100        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-04   1,569 1,569        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-04   241 241        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-04   104 104        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-04   127 127        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-04   99 99        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-04   8,200 8,200        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-04   4,308 4,308        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-04   10,813 10,813        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-04   3,071 3,071        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-04   777 777        
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-04   2,516 2,516        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-04   3,929 3,929        
    BNP PARIBAS FIN INCDISCOUNT COMMERC 2011-02 PURCHASE 2011-04   184,920 184,920        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-04   995 995        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-04   2,284 2,284        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-04   55 55        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-04   3,614 3,614        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-04   2,207 2,207        
    WACHOVIA CMBS10/01/06 5.572 10/15/4 2009-09 PURCHASE 2011-04   200,342 159,100     41,242  
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-04   5 5        
    GCCFC 2007-GG9 A43/01/2007 5.444 3/ 2007-11 PURCHASE 2011-04   64,997 59,100     5,897  
    JPMCC 2007-CIBC19 A406/01/07 VAR 02 2007-12 PURCHASE 2011-04   142,807 124,203     18,604  
    UNITED STATES TREAS NTS09/30/10 1.8 2011-03 PURCHASE 2011-04   124,749 123,175     1,574  
    VALERO ENERGY CORP03/17/09 9.375 03 2009-03 PURCHASE 2011-04   54,583 41,944     12,639  
    UNITED STATES TREAS BILLSDUE 05/05/ 2011-02 PURCHASE 2011-05   44,986 44,986        
    NCUA GTD NTS02/28/11 VAR 03/09/21S 2011-02 PURCHASE 2011-05   1,827 1,827        
    NATIONAL RURAL UTILS COOP FINDISCOU 2011-03 PURCHASE 2011-05   184,933 184,933        
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-05   4,252 4,252        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-05   5,060 5,060        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-05   2,563 2,563        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-05   5,352 5,352        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-05   1,267 1,267        
    FG G0624202/01/11 4.500 09/01/40 2011-02 PURCHASE 2011-05   4,333 4,333        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-05   1,671 1,671        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-05   1,600 1,600        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-05   1,232 1,232        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-05   2,124 2,124        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-05   23,158 23,158        
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-05   858 858        
    FEDERAL HOME LN BKS04/18/11 0.650 1 2011-03 PURCHASE 2011-05   195,000 195,000        
    UNITED STATES TREAS NTS03/31/11 2.2 2011-04 PURCHASE 2011-05   296,399 292,703     3,696  
    NCUA GTD NTS12/09/10 VAR 12/08/20S 2010-12 PURCHASE 2011-05   1,795 1,795        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-05   249 249        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-05   228 228        
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-05   2,057 2,057        
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-05   1,132 1,132        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-05   5,036 5,036        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-05   1,747 1,747        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-05   3,028 3,028        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-05   19 19        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2003-03 PURCHASE 2011-05   910 910        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-05   61 61        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-05   1,934 1,934        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-05   345 345        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-05   158 158        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-05   70 70        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-05   289 289        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-05   5,743 5,743        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-05   1,259 1,259        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-05   4,733 4,733        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-05   5,066 5,066        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-05   123 123        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-05   145 145        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-05   118 118        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-05   877 877        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-05   2,510 2,510        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-05   652 652        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-05   7,641 7,641        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-05   2,990 2,990        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-05   827 827        
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-05   925 925        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-05   889 889        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-05   3,965 3,965        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-05   2,671 2,671        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-05   79 79        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-05   1,814 1,814        
    KEYCORP STUDENT LN TR09/24/02 VAR 0 2011-03 PURCHASE 2011-05   1,359 1,359        
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-05   5 5        
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-06   5 5        
    FEDERAL HOME LOAN BANK12/03/10 0.62 2011-04 PURCHASE 2011-06   195,000 194,951     49  
    NCUA GTD NTS02/28/11 VAR 03/09/21S 2011-02 PURCHASE 2011-06   2,242 2,242        
    COUNTRYWIDE FINL06/07/2007 5.80 06/ 2008-07 PURCHASE 2011-06   52,329 46,875     5,454  
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-06   3,564 3,564        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-06   651 651        
    MORGAN ST DEAN WDTD 4/3/02 6.6% DUE 2009-06 PURCHASE 2011-06   36,672 37,039     -367  
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-06   3,041 3,041        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-06   2,974 2,974        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-06   2,436 2,436        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-06   3,320 3,320        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-06   1,000 1,000        
    FG G0624202/01/11 4.500 09/01/40 2011-02 PURCHASE 2011-06   2,831 2,831        
    FG G0-635403/01/11 4.000 04/01/41 2011-04 PURCHASE 2011-06   291 291        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-06   1,745 1,745        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-06   1,131 1,131        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-06   324 324        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-06   2,059 2,059        
    FANNIE MAE DISCOUNT NOTEDUE 06/15/1 2011-03 PURCHASE 2011-06   174,957 174,957        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-06   20,238 20,238        
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-06   793 793        
    CSMC 2006-C1 A33/1/2006 VAR 2/15/20 2005-03 PURCHASE 2011-06   43,856 43,856        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-06   232 232        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-06   226 226        
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-06   1,136 1,136        
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-06   2,244 2,244        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-06   6,338 6,338        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-06   223 223        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-06   3,251 3,251        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-06   16 16        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2004-04 DONATION 2011-06   552 552        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-06   104 104        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-06   2,431 2,431        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-06   815 815        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-06   2,148 2,148        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-06   72 72        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-06   1,446 1,446        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-06   10,099 10,099        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-06   417 417        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-06   2,971 2,971        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-06   2,275 2,275        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-06   105 105        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-06   128 128        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-06   100 100        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-06   3,637 3,637        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-06   3,958 3,958        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-06   2,331 2,331        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-06   247 247        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-06   2,461 2,461        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-06   1,342 1,342        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-06   2,419 2,419        
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-06   1,333 1,333        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-06   4,416 4,416        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-06   1,202 1,202        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-06   2,222 2,222        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-06   383 383        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-06   3,614 3,614        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-06   652 652        
    MST 6 A14/01/1997 7.340 7/01/2035 2004-08 PURCHASE 2011-07   2,207 2,207        
    MDST 6 A24/1/1997 7.400 7/1/2035 2003-06 PURCHASE 2011-07   221 221        
    CONTINENTAL AIRLS PASS THRUPASS THR 2006-03 PURCHASE 2011-07   2,011 2,011        
    FREDDIE MAC DISCOUNT NOTEDUE 07/05/ 2011-04 PURCHASE 2011-07   219,967 219,967        
    NATIONAL RURAL UTILS CORP FINDISCOU 2011-05 PURCHASE 2011-07   179,963 179,963        
    NCUA GTD NTS02/28/11 VAR 03/09/21S 2011-02 PURCHASE 2011-07   1,477 1,477        
    JPMCC 2002-C3 A212/1/2002 4.994 7/1 2011-06 PURCHASE 2011-07   155 155        
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-07   3,920 3,920        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-07   4,395 4,395        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-07   3,080 3,080        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-07   4,339 4,339        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-07   850 850        
    FG G0624202/01/11 4.500 09/01/40 2011-02 PURCHASE 2011-07   4,012 4,012        
    FG G0-635403/01/11 4.000 04/01/41 2011-04 PURCHASE 2011-07   401 401        
    FG G0-649905/01/11 4.000 03/01/41 2011-05 PURCHASE 2011-07   678 678        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-07   2,168 2,168        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-07   1,204 1,204        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-07   2,958 2,958        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-07   1,491 1,491        
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-07   877 877        
    CSMC 2006-C1 A33/1/2006 VAR 2/15/20 2005-03 PURCHASE 2011-07   807 807        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-07   6,341 6,341        
    TELECOM ITALIA CAP07/18/06 6.200 07 2010-05 PURCHASE 2011-07   50,000 52,408     -2,408  
    FEDERAL HOME LOAN BANK06/20/11 0.50 2011-06 PURCHASE 2011-07   95,000 95,000        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-07   239 239        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-07   461 461        
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-07   2,608 2,608        
    BSABS 2002-1 1A53/1/2002 STEP CPN 1 2004-06 PURCHASE 2011-07   1,667 1,667        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-07   174 174        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-07   3,042 3,042        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-07   1,824 1,824        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-07   29 29        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2004-04 DONATION 2011-07   618 618        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-07   26 26        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-07   2,063 2,063        
    FN 5451918/1/2001 7.000 9/1/2031 2002-09 PURCHASE 2011-07   264 264        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-07   157 157        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-07   76 76        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-07   287 287        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-07   3,439 3,439        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-07   262 262        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-07   4,186 4,186        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-07   11 11        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-07   124 124        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-07   146 146        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-07   119 119        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-07   782 782        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-07   7,410 7,410        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-07   1,771 1,771        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-07   249 249        
    RESIDENTIAL FDG MTG SECS IISER 1999 2004-04 DONATION 2011-07   1,874 1,874        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-07   452 452        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-07   2,258 2,258        
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-07   509 509        
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-07   202 202        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-07   3,558 3,558        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-07   501 501        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-07   1,875 1,875        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-07   229 229        
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-07   5 5        
    FEDERAL HOME LOAN BANK04/29/11 0.54 2011-04 PURCHASE 2011-07   195,000 195,000        
    NCUA GUARN NTS TR02/28/11 VAR 03/09 2011-02 PURCHASE 2011-08   2,593 2,593        
    FNM DISCOUNT NTDUE 08/09/11 2011-04 PURCHASE 2011-08   99,969 99,969        
    JPMCC 2002-C3 A212/1/2002 4.994 7/1 2011-06 PURCHASE 2011-08   220 220        
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-08   2,212 2,212        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-08   234 234        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-08   5,550 5,550        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-08   4,146 4,146        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-08   735 735        
    FG G0624202/01/11 4.500 09/01/40 2011-02 PURCHASE 2011-08   3,595 3,595        
    FG G0-635403/01/11 4.000 04/01/41 2011-04 PURCHASE 2011-08   248 248        
    FG G0-649905/01/11 4.000 03/01/41 2011-05 PURCHASE 2011-08   493 493        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-08   2,219 2,219        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-08   1,180 1,180        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-08   1,491 1,491        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-08   1,316 1,316        
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-08   803 803        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-08   7,304 7,304        
    FEDERAL HOME LOAN BANKDISCOUNT NOTE 2011-04 PURCHASE 2011-08   159,950 159,950        
    UNITED STATES TREAS NTS11/15/10 2.6 2011-08 PURCHASE 2011-08   46,703 46,129     574  
    UNITED STATES TREAS NTS11/15/10 2.6 2011-08 PURCHASE 2011-08   46,755 46,129     626  
    FEDERAL HOME LOAN BANK06/20/11 0.50 2011-06 PURCHASE 2011-08   95,000 95,000        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-08   2,440 2,440        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-08   1,218 1,218        
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-08   1,447 1,447        
    NATIONAL RURAL UTILS COOP FINDISCOU 2011-07 PURCHASE 2011-08   179,984 179,984        
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-08   2,531 2,531        
    BSABS 2002-1 1A53/1/2002 STEP CPN 1 2004-06 PURCHASE 2011-08   2,558 2,558        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-08   93 93        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-08   146 146        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-08   1,556 1,556        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-08   15 15        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2004-04 DONATION 2011-08   780 780        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-08   59 59        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-08   2,208 2,208        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-08   135 135        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-08   121 121        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-08   74 74        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-08   289 289        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-08   6,168 6,168        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-08   2,804 2,804        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-08   774 774        
    FN 88911701/01/08 5.000 10/01/35 2011-06 PURCHASE 2011-08   4,821 4,821        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-08   3,407 3,407        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-08   106 106        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-08   129 129        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-08   102 102        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-08   1,600 1,600        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-08   1,689 1,689        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-08   614 614        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-08   6,331 6,331        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-08   1,155 1,155        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-08   1,977 1,977        
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-08   1,056 1,056        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-08   1,098 1,098        
    BNP PARIBAS FIN INCDISCOUNT COMMERC 2011-04 PURCHASE 2011-08   184,812 184,812        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-08   4,017 4,017        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-08   2,803 2,803        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-08   79 79        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-08   2,205 2,205        
    FEDERAL HOME LOAN BANK06/28/11 0.50 2011-06 PURCHASE 2011-08   190,000 190,000        
    KEYCORP STUDENT LN TR09/24/02 VAR 0 2011-03 PURCHASE 2011-08   1,101 1,101        
    NCUA GTD NTS12/09/10 VAR 12/08/20S 2010-12 PURCHASE 2011-08   1,500 1,494     6  
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-08   5 5        
    NCUA GUARN NTS TR02/28/11 VAR 03/09 2011-02 PURCHASE 2011-09   1,039 1,039        
    US TREASURY BILLDUE 09/08/11 2011-05 PURCHASE 2011-09   44,995 44,995        
    NCUA GTD NTS TR11/17/10 VAR 11/06/1 2010-11 PURCHASE 2011-09   4,648 4,648        
    NCUA GTD NTS TR11/17/10 VAR 11/06/1 2010-11 PURCHASE 2011-09   4,535 4,521     14  
    FG Q0-264008/01/11 4.500 08/01/41 2011-08 PURCHASE 2011-09   90,027 90,173     -146  
    FN AI004107/01/11 4.500 07/01/41 2011-08 PURCHASE 2011-09   109,930 108,725     1,205  
    JPMCC 2002-C3 A212/1/2002 4.994 7/1 2011-06 PURCHASE 2011-09   222 222        
    GCCFC 2002-C1 A412/1/2002 4.948 1/1 2010-09 PURCHASE 2011-09   208 208        
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-09   2,064 2,064        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-09   9,296 9,296        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-09   4,157 4,157        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-09   3,293 3,293        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-09   1,118 1,118        
    FG G0624202/01/11 4.500 09/01/40 2011-02 PURCHASE 2011-09   4,857 4,857        
    FG G0-635403/01/11 4.000 04/01/41 2011-04 PURCHASE 2011-09   449 449        
    FG G0-649905/01/11 4.000 03/01/41 2011-05 PURCHASE 2011-09   630 630        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-09   2,333 2,333        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-09   1,112 1,112        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-09   437 437        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-09   1,694 1,694        
    HEALTH CARE PROPERTIES9/19/2006 5.9 2009-11 PURCHASE 2011-09   85,000 88,097     -3,097  
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-09   19,755 19,755        
    CONTINENTAL AIRLINES INC6/17/1999 6 2004-12 PURCHASE 2011-09   1,234 1,234        
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-09   671 671        
    NCUA GTD NTS11/10/10 2.900 10/29/20 2010-11 PURCHASE 2011-09   125,888 119,694     6,194  
    NATIONAL RURAL UTILS COOP FINDISCOU 2011-08 PURCHASE 2011-09   174,987 174,987        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-09   2,226 2,226        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-09   492 492        
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-09   1,331 1,331        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-09   9,039 9,039        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-09   211 211        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-09   2,204 2,204        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-09   18 18        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2004-04 DONATION 2011-09   950 950        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-09   21 21        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-09   1,787 1,787        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-09   644 644        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-09   168 168        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-09   74 74        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-09   291 291        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-09   8,411 8,411        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-09   1,336 1,336        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-09   3,135 3,135        
    FN 88911701/01/08 5.000 10/01/35 2011-06 PURCHASE 2011-09   4,930 4,930        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-09   10 10        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-09   107 107        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-09   130 130        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-09   102 102        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-09   218 218        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-09   5,060 5,060        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-09   4,856 4,856        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-09   1,817 1,817        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-09   998 998        
    UNITED STATES TREAS NTS08/15/11 2.1 2011-08 PURCHASE 2011-09   108,376 104,702     3,674  
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-09   878 878        
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-09   129 129        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-09   39 39        
    BSABS 2002-1 1A53/1/2002 STEP CPN 1 2004-06 PURCHASE 2011-09   2,158 2,158        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-09   2,496 2,496        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-09   2,479 2,479        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-09   299 299        
    NCUA GUARANTEED NOTES05/05/11 VAR 0 2011-04 PURCHASE 2011-09   3,340 3,340        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-09   2,727 2,727        
    UNITED STATES TREAS NTS08/15/11 2.1 2011-08 PURCHASE 2011-09   71,389 70,047     1,342  
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-09   18 18        
    NCUA GTD NTS TR11/17/10 VAR 11/06/1 2010-11 PURCHASE 2011-09   4,644 4,644        
    NCUA GTD NTS TR11/17/10 VAR 11/06/1 2010-11 PURCHASE 2011-09   4,525 4,525        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   649 649        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   726 726        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   770 770        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   709 709        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   708 708        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   749 749        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   815 815        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   798 798        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   586 586        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   640 640        
    MST 6 A14/01/1997 7.340 7/01/2035 2004-08 PURCHASE 2011-10   2,747 2,747        
    MDST 6 A24/1/1997 7.400 7/1/2035 2003-06 PURCHASE 2011-10   275 275        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-10   785 785        
    NCUA GUARN NTS TR02/28/11 VAR 03/09 2011-02 PURCHASE 2011-10   1,449 1,449        
    NCUA GUARANTEED NOTES05/05/11 VAR 0 2011-04 PURCHASE 2011-10   3,410 3,410        
    FN 88911701/01/08 5.000 10/01/35 2011-06 PURCHASE 2011-10   230,576 229,123     1,453  
    JPMCC 2002-C3 A212/1/2002 4.994 7/1 2011-06 PURCHASE 2011-10   238 238        
    RABOBANK USA FINL CORPDISCOUNT COMM 2011-07 PURCHASE 2011-10   179,917 179,917        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-10   72 72        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-10   4,139 4,139        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-10   4,293 4,293        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-10   923 923        
    FG G0624202/01/11 4.500 09/01/40 2011-02 PURCHASE 2011-10   6,767 6,767        
    FG G0-635403/01/11 4.000 04/01/41 2011-04 PURCHASE 2011-10   335 335        
    FG G0-649905/01/11 4.000 03/01/41 2011-05 PURCHASE 2011-10   539 539        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-10   1,996 1,996        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-10   2,893 2,893        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-10   1,370 1,370        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-10   2,137 2,137        
    GOLDMAN SACHS GROUP INC FDIC12/05/0 2009-11 PURCHASE 2011-10   95,128 96,617     -1,489  
    GCCFC 2002-C1 A412/1/2002 4.948 1/1 2010-09 PURCHASE 2011-10   288 288        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-10   9,704 9,704        
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-10   790 790        
    RIO TINTO FIN USA LTD09/19/11 3.750 2011-09 PURCHASE 2011-10   74,918 74,808     110  
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2011-09 PURCHASE 2011-10   2,042 2,042        
    FANNIE MAE04/19/10 2.000 04/19/13 2010-05 PURCHASE 2011-10   200,000 202,483     -2,483  
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-10   848 848        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-10   226 226        
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-10   1,279 1,279        
    NCUA GUARANTEED NOTES05/05/11 VAR 0 2011-04 PURCHASE 2011-10   7,791 7,791        
    NCUA GUARANTEED NOTES05/05/11 VAR 0 2011-04 PURCHASE 2011-10   3,580 3,580        
    NCUA GUARANTEED NOTES05/05/11 VAR 0 2011-04 PURCHASE 2011-10   3,769 3,769        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2011-04 PURCHASE 2011-10   170 170        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-10   1,054 1,054        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-10   737 737        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-10   16 16        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2004-04 DONATION 2011-10   600 600        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-10   19 19        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-10   2,746 2,746        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-10   1,131 1,131        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-10   161 161        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-10   74 74        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-10   293 293        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-10   5,557 5,557        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-10   1,326 1,326        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-10   5,145 5,145        
    FN 88911701/01/08 5.000 10/01/35 2011-06 PURCHASE 2011-10   5,558 5,558        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-10   4,450 4,450        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-10   125 125        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-10   148 148        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-10   121 121        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-10   5,755 5,755        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-10   3,367 3,367        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-10   5,059 5,059        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-10   2,039 2,039        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-10   829 829        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-10   1,998 1,998        
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-10   3,006 3,006        
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-10   1,561 1,561        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-10   458 458        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-10   1,310 1,310        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-10   2,729 2,729        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-10   880 880        
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-10   5 5        
    FANNIE MAE08/23/10 VAR 08/23/12 2010-08 PURCHASE 2011-11   475,335 474,717     618  
    UNITED STATES TREAS NTS08/15/11 2.1 2011-08 PURCHASE 2011-11   50,709 49,909     800  
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-11   836 836        
    NCUA GUARN NTS TR02/28/11 VAR 03/09 2011-02 PURCHASE 2011-11   2,537 2,537        
    NCUA GUARANTEED NOTES05/05/11 VAR 0 2011-04 PURCHASE 2011-11   3,357 3,357        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-11   64 64        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-11   7,606 7,606        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-11   2,460 2,460        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-11   769 769        
    FG G0624202/01/11 4.500 09/01/40 2011-02 PURCHASE 2011-11   7,132 7,132        
    FG G0-635403/01/11 4.000 04/01/41 2011-04 PURCHASE 2011-11   278 278        
    FG G0-649905/01/11 4.000 03/01/41 2011-05 PURCHASE 2011-11   669 669        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-11   2,179 2,179        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-11   497 497        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-11   2,037 2,037        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-11   2,529 2,529        
    GCCFC 2002-C1 A412/1/2002 4.948 1/1 2010-09 PURCHASE 2011-11   3,159 3,159        
    JPMCC 2002-C3 A212/1/2002 4.994 7/1 2011-06 PURCHASE 2011-11   225 225        
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-11   2,038 2,038        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-11   3,907 3,907        
    UNITED STATES TREAS NTS08/15/11 2.1 2011-08 PURCHASE 2011-11   273,670 269,510     4,160  
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-11   759 759        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-11   249 249        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-11   600 600        
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-11   1,104 1,104        
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-11   693 693        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-11   14,234 14,234        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-11   1,566 1,566        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-11   22 22        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2004-04 DONATION 2011-11   829 829        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-11   22 22        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-11   2,107 2,107        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-11   224 224        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-11   169 169        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-11   77 77        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-11   6,600 6,600        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-11   2,959 2,959        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-11   2,977 2,977        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-11   2,052 2,052        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-11   5,250 5,250        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-11   108 108        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-11   131 131        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-11   103 103        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-11   1,254 1,254        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-11   2,529 2,529        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-11   680 680        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-11   7,233 7,233        
    STRUCTURED ASSET SECS CORP MTG06/28 2009-09 PURCHASE 2011-11   2,590 2,590        
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-11   1,275 1,275        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-11   1,306 1,306        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2006-11 PURCHASE 2011-11   2,803 2,803        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-11   2,032 2,032        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-11   224 224        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-11   210 210        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-11   1,624 1,624        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-11   1,017 1,017        
    KEYCORP STUDENT LN TR09/24/02 VAR 0 2011-03 PURCHASE 2011-11   963 963        
    SASC 1997-2 2A410/1/1997 7.250 3/28 2004-04 DONATION 2011-11   5 5        
    FRE DISCOUNT NOTEDUE 12/15/2011 2011-08 PURCHASE 2011-12   99,977 99,977        
    NCUA GTD NTS TR11/17/10 VAR 11/05/2 2010-11 PURCHASE 2011-12   771 771        
    NCUA GUARN NTS TR02/28/11 VAR 03/09 2011-02 PURCHASE 2011-12   1,462 1,462        
    NCUA GUARANTEED NOTES05/05/11 VAR 0 2011-04 PURCHASE 2011-12   3,501 3,501        
    US TREASURY BILL06/09/11 0.00 12/08 2011-09 PURCHASE 2011-12   14,999 14,999        
    FANNIE MAE10/18/10 VAR 10/18/12 2010-10 PURCHASE 2011-12   250,310 249,898     412  
    JPMCC 2002-C3 A212/1/2002 4.994 7/1 2011-06 PURCHASE 2011-12   238 238        
    GCCFC 2002-C1 A412/1/2002 4.948 1/1 2010-09 PURCHASE 2011-12   4,230 4,230        
    CNFHE 2002-A A52/6/2002 STEP CPN 4/ 2004-04 DONATION 2011-12   3,557 3,557        
    FG H0316109/01/07 6.500 08/01/37 2007-09 PURCHASE 2011-12   2,785 2,785        
    FG G025791/1/2007 5.000 12/1/2034 2007-01 PURCHASE 2011-12   6,396 6,396        
    FREDDIE MAC12/12/07 5.500 12/01/37 2007-12 PURCHASE 2011-12   3,840 3,840        
    FG G0-586604/01/10 4.500 02/01/40 2010-04 PURCHASE 2011-12   1,367 1,367        
    FG G0624202/01/11 4.500 09/01/40 2011-02 PURCHASE 2011-12   6,686 6,686        
    FG G0-635403/01/11 4.000 04/01/41 2011-04 PURCHASE 2011-12   540 540        
    FG G0-649905/01/11 4.000 03/01/41 2011-05 PURCHASE 2011-12   851 851        
    FG G0-673709/01/11 4.000 10/01/41 2011-10 PURCHASE 2011-12   698 698        
    FH J1 388412/01/10 3.500 12/01/25 2010-12 PURCHASE 2011-12   2,016 2,016        
    FG A9-484311/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-12   481 481        
    FG A390125/1/2005 5.500 6/1/2035 2005-06 PURCHASE 2011-12   5,259 5,259        
    FG Q0409010/01/11 4.000 10/01/41 2011-10 PURCHASE 2011-12   135 135        
    FHR 2174 PN7/1/1999 6.000 7/15/2029 2005-06 PURCHASE 2011-12   2,280 2,280        
    LEHMAN ABS MANUFACTURED HSG10/31/01 2011-02 PURCHASE 2011-12   839 839        
    G2 814328/1/2005 VAR 8/20/2035 2006-01 PURCHASE 2011-12   251 251        
    G2 8149710/1/2005 VAR 10/20/2035 2005-11 PURCHASE 2011-12   710 710        
    JPMCC 2001-CIB312/1/2001 6.465 11/1 2010-09 PURCHASE 2011-12   3,816 8,467     -4,651  
    HSBC HOME EQUITY LN TR07/12/06 VAR 2010-10 PURCHASE 2011-12   1,208 1,208        
    CWALT INC SERIES 2007-22 2-A-167/27 2009-02 PURCHASE 2011-12   1,136 1,136        
    BSABS 2002-1 1A53/1/2002 STEP CPN 1 2004-06 PURCHASE 2011-12   7,813 7,813        
    CWHL 2004-14 4A16/1/2004 VAR 8/25/2 2006-01 PURCHASE 2011-12   4,024 4,024        
    CSFB 2004-1 2A12/1/2004 6.500 2/25/ 2005-06 PURCHASE 2011-12   213 213        
    EQABS 2002-5 M110/1/2002 STEP CPN 1 2004-08 PURCHASE 2011-12   775 775        
    FNR G92-12 B2/1/1992 7.700 2/25/202 2004-04 DONATION 2011-12   16 16        
    FED NATL MTG ASSN POOL 254232DTD 2/ 2003-03 PURCHASE 2011-12   617 617        
    FN 3948547/1/1997 6.500 5/1/2027 2002-09 PURCHASE 2011-12   20 20        
    FN AH342801/01/11 1.3500 01/01/26 2011-02 PURCHASE 2011-12   2,424 2,424        
    FN 5451918/1/2001 7.000 9/1/2031 2004-04 DONATION 2011-12   1,107 1,107        
    FN 55517712/1/2002 VAR 1/1/2033 2004-04 DONATION 2011-12   135 135        
    FN 6061089/1/2001 7.000 3/1/2031 2004-04 DONATION 2011-12   76 76        
    FN 6336982/1/2002 7.500 2/1/2031 2004-04 DONATION 2011-12   288 288        
    FNR 2001-52 YZDTD 09/01/01 6.50% DU 2006-01 PURCHASE 2011-12   5,156 5,156        
    FN 7352071/1/2005 7.000 4/1/2034 2005-01 PURCHASE 2011-12   295 295        
    FN 84103111/1/2005 VAR 11/1/2035 2005-09 PURCHASE 2011-12   1,682 1,682        
    FN 8956065/1/2006 VAR 6/1/2036 2006-05 PURCHASE 2011-12   167 167        
    FN AD079102/01/10 4.443 02/01/20 2010-11 PURCHASE 2011-12   127 127        
    FN AE060011/01/10 4.500 11/01/40 2010-11 PURCHASE 2011-12   149 149        
    FN AE060511/01/10 4.00 11/01/40 2010-11 PURCHASE 2011-12   122 122        
    INDX 2004-AR6 6A18/1/2004 VAR 10/25 2005-01 PURCHASE 2011-12   217 217        
    MASTR 2002-8 1A1DTD 11/01/02 5.5% D 2004-07 PURCHASE 2011-12   524 524        
    MARM 2003-6 4A211/1/2003 VAR 1/25/2 2006-01 PURCHASE 2011-12   241 241        
    RESIDENTIAL FDG MTG SECS IISER 1999 2006-01 PURCHASE 2011-12   1,803 1,803        
    RESIDENTIAL FDG MTG SECS IISER 2000 2004-04 DONATION 2011-12   929 929        
    STRUCTURED ASSET SECS CORP MTG06/25 2009-09 PURCHASE 2011-12   2,269 2,269        
    WELLS FARGO MTG BACKED SECS12/01/03 2010-10 PURCHASE 2011-12   1,735 1,735        
    AMERIQUEST MTG SECS INC07/29/05 VAR 2009-11 PURCHASE 2011-12   1,033 1,033        
    CWALT INC06/23/05 VAR 08/25/35CL 2 2008-11 PURCHASE 2011-12   3,696 3,696        
    CWABS INC06/23/05 3.760 10/25/35SE 2009-09 PURCHASE 2011-12   1,614 1,614        
    INDX 2004-AR8 2A2A9/23/2004 VAR 11/ 2004-09 PURCHASE 2011-12   1,256 1,256        
    J P MORGAN MTG TR07/01/05 VAR 08/25 2008-11 PURCHASE 2011-12   716 716        
    SASC 1997-2 2A410/1/1997 7.250 3/28 1999-03 PURCHASE 2011-12   9 9        

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ABBEY NATL TREASURY SERV 96,777 90,428
    ALABAMA POWER CP TR 301,600 285,882
    AMERICAN AIRLINES    
    AMERICAN INDEPENDENCE US INFLAT 12,070,951 12,200,233
    AMERIQUEST MTG SECS INC 49,304 54,029
    AQUILA, INC. 83,850 78,758
    BACM 2005-2 A5 96,884 97,484
    BANKAMERICA CAP 162,000 135,000
    BARCLAYS BK 109,858 113,923
    BEAR STEARNS ABS INC 71,955 59,266
    BRAZOS HIGHER ED AUTH, INC. 57,352 56,262
    CD 2007-CD5 87,725 160,709
    CITIGROUP COML MTG 106,292 192,938
    CITIGROUP FDG INC 80,730 80,187
    CITIGROUP INC 333,445 346,115
    CNFHE 2002-A A5 173,939 121,345
    COMM 2007-C9 A4 16,401 16,743
    CONSECO FINANCIAL CNFHE    
    CONTINENTAL AIRLINES 275,002 277,739
    COUNTRY WIDE FINANCIAL 46,875 50,105
    CREDIT SUISSE NY BRH 90,276 88,761
    CS FIRST BOSTON INC. 115,822 114,985
    CSMC 2006-C1 A3 106,088 111,410
    CWABS INC 43,402 58,218
    CWALT INC 145,004 245,386
    CWHL 2004-14 4A1 207,020 205,412
    DEUTSCHE BANK LONDON 99,864 102,220
    EDUCATIONAL FDG SOUTH INC NT 37,683 36,848
    EQUITY ONE ASSET BACKED SECURITIES 230,050 210,673
    FANNIE MAE 507,562 508,962
    FEDERAL HOME LOAN BANK 195,000 195,076
    FHR 2642 BW 13,168 6,735
    FHR 2174 PN 106,938 105,593
    FIRST CHICAGO NBD CAP 69,750 69,089
    FNR G92-12 B 1,519 1,337
    FNR 2001-52 YZ 224,382 243,751
    FREDDIE MAC 675,000 675,238
    GCCFC 414,998 418,197
    GENERAL ELEC CAP CORP 275,596 287,801
    GINNIE MAE 45,096 54,000
    GOLDMAN SACHS GROUP INC 160,459 186,324
    GS MORGAGE SECURITES CORP 121,192 125,332
    HEALTH CARE PROPERTIES 52,075 54,859
    HEALTH CARE REIT INC 124,638 124,141
    HSBC HOME EQUITY LOAN TR    
    HSBC HLDGS PLC SR NT 99,783 106,259
    HSBC HOME EQUITY LN TR 89,465 93,674
    INDX 2004-AR6 2A2A 88,115 76,516
    INDX 2004-AR8 2A2A 28,656 17,196
    INDYMAC INDEX MTG LN TR    
    JP MORGAN & CO INC 153,745 192,926
    JP MORGAN CHASE CAP XIII 351,574 341,128
    JP MORGAN MTG TR 5,603 71,522
    JPM CAP TR    
    KEYCORP STUDENT LN TR 55,191 54,080
    LAUDUS MONDR INTL FXD INC 3,431,175 3,314,590
    LEHMAN ABS MANUFACTURED HSG 54,155 54,707
    LEHMAN BROS HLDG    
    LLOYDS TSB BK PLC 99,701 100,214
    MASTER 2002-8 1A1 38,517 35,701
    MASTER ADJ RATE MORTGAGE TRUST 236,475 227,901
    MASTER AST SECURITIZATION TR    
    MDST 6 A2 11,860 10,633
    MERRILL LYNCH 150,000 150,164
    MERRILL LYNCH FIRST FRANKLIN 122,411 71,089
    MID-STATE TRUST 117,509 108,673
    MORGAN STANLEY 803,922 839,224
    MORGAN STANLEY DEAN W    
    NASC 124,034 116,285
    NATIONSTAR HOME EQUITY 108,744 149,196
    NCUA GTD NTS 363,663 363,882
    NEW PLAN EXCEL RLTY TR 279,773 272,300
    NORTHSTAR ED FIN INC DEL 48,125 49,301
    OPTION ONE MTG LN 132,344 78,280
    PANHANKLE EASTN PIPE LINE CO 100,000 122,454
    PIMCO FOREIGN BOND FUND 3,166,799 3,424,269
    PRIVATE EXPORT FUNDING 69,781 71,350
    RES FDG MTG SEC 103,523 87,631
    ROYAL BANK OF SCOTLAND PLC 119,752 112,524
    SHURGARD STORAGE CTRS    
    SOUNDVIEW HOME LOAN 108,763 177,461
    STEELPATH MLP FDS TR 3,891,095 3,955,912
    STRCTD ASSET SECS CO 55,637 78,023
    TELECOM ITALIA CAP    
    UNITED DOMINION 221,990 223,161
    VALERO ENERGY COPR    
    VERIZON COMMUNICATIONS INC. 99,867 102,066
    WACHOVIA CMBS    
    WACHOVIA CORP GLOBAL 89,797 94,959
    WELLPOINT INC 99,898 108,996
    WELLS FARGO MORTGAGE BAKED SEC. 272,957 267,878

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ADVISORS INNER CIRCLE FD II 3,931,105 3,235,715
    DFA EMERGING MARKETS VALUE 95 4,484,637 3,982,096
    ICM SMALL CAP 4,001,034 3,307,232
    MFS INST INTL EQUITY FUND 7,312,902 7,193,437
    OLD NATIONAL BANCORP 24,846 12,664
    PIMCO COMMODITY REAL RETURN STRAT 10,695,352 7,062,919
    TEMPLETON INSTL FOREIGN EQUITY 8,174,487 7,140,644
    VANGUARD INSTL INDEX FUND 21,472,278 23,525,574
    VANGUARD REITS INDEX 8,311,007 7,544,239

    TY 2011 InvestmentsGovtObligationsSch
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    US Government Securities - End of Year Book Value:

    4,952,900
    US Government Securities - End of Year Fair Market Value:

    5,174,999
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2011 LandEtcSchedule2
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    COMPUTERS & PERIPHERALS 76,038 66,207 9,831 9,831
    SOFTWARE 23,268 12,407 10,861 10,861
    TELECOMMUNICATIONS 14,188 9,592 4,596 4,596
    FUNITURE & EQUIPMENT 149,639 91,460 58,179 58,179
    ELECTRONIC EQUIPMENT 18,369 12,718 5,651 5,650
    APPLIANCES 3,798 2,809 989 988
    LEASEHOLD IMPROVEMENTS 283,290 80,858 202,432 202,433


    TY 2011 LegalFeesSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    REVIEW & PREPARE LEGAL DOCUMENTS 5,676      
    REVIEW & PREPARE BY-LAW MODIFICA 993      
    RESEARCH LEGAL ISSUES 1,810      
    ATTEND MEETINGS 1,100      
    DISCONTINUED OPERATIONS 1,227      


    TY 2011 OtherAssetsSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INTEREST & DIVIDENDS RECEIVABLE 153,365 103,903 103,903
    MISC. RECEIVABLES 13,066 220 220
    DEFERRED TAX ASSET   39,688 39,688
    TAX RECEIVABLE   4,625 4,625


    TY 2011 OtherExpensesSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    GRANT WRITING CLASSES 3,738     3,738
    BANK FEES 1,086     1,086
    SUPPLIES 7,795     7,829
    SUBSCRIPTIONS 868     924
    POSTAGE 1,202     529
    PROGRAM ADVERTISING 5,596     16,620
    COMPUTER EXPENSES 958     1,057
    DUES & MEMBERSHIPS 32,518     28,486
    MAINTENANCE 21,639     20,839
    INSURANCE 17,355     14,803
    RECORD RETENTION 2,798     2,796
    FLOWERS, GIFTS & AWARDS 1,365     3,051
    PROGRAM RELATED EXPENSES 857,407     779,840
    TERMINATED GRANTS -71,733      
    GAAP BASED TAX ENTRY -149,845      
    ALL OTHER 2,368     13,739


    TY 2011 OtherIncomeSchedule2
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    DISCONTINUED OPERATIONS 3,122    


    TY 2011 OtherLiabilitiesSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Description Beginning of Year - Book Value End of Year - Book Value
    TAXES PAYABLE 65,622  
    DEFERRED TAX LIABILITY 74,056  
    MISC. PAYABLES 400  


    TY 2011 OtherProfessionalFeesSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMMUNITY WELLNESS INDICATOR REP 30,011     30,011
    PROGRAM RELATED SERVICES 34,194     33,730
    COMPUTER SERVICES 4,546     3,886
    PAYROLL AND HUMAN RESOURCES SERV 22,976     23,127
    INVESTMENT MANAGEMENT SERVICES 187,487 187,487    
    PHOTOGRAPHIC SERVICES 2,015     2,510
    MISCELLANEOUS 4,485     4,485


    TY 2011 TaxesSchedule
    Name:
    WELBORN BAPTIST FOUNDATION INC
    EIN: 35-2056722
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CALCULATED EXCISE TAX 68,876     103,022