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
BILL DUNN FUND 1055002341
 

Number and street (or P.O. box number if mail is not delivered to street address)REGIONS BANK TRUST DEPT PO BOX 2886   Room/suite
City or town, state, and ZIP code
MOBILE, AL366522886
A Employer identification number

63-6045180
B Telephone number (see page 10 of the instructions)

(251) 690-1024
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$517,783J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments 5 5  
4 Dividends and interest from securities...... 14,190 13,447  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 8,628
b Gross sales price for all assets on line 6a 271,176
7 Capital gain net income (from Part IV, line 2)... 8,628
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 22,823 22,080  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 6,419 5,135   1,284
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 800 0 0 800
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 70 119   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 7,289 5,254 0 2,084
25 Contributions, gifts, grants paid........ 17,986 17,986
26 Total expenses and disbursements. Add lines 24 and 25 25,275 5,254 0 20,070
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,452
b Net investment income (if negative, enter -0-) 16,826
c Adjusted net income (if negative, enter -0-)... 0
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2011)
Form 990-PF (2011)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 18,991 8,829 8,829
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 131,691 Click to see attachment89,548 90,963
b Investments—corporate stock (attach schedule)........ 250,135 Click to see attachment237,545 242,470
c Investments—corporate bonds (attach schedule)........ 109,178 Click to see attachment170,790 175,521
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........     0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 509,995 506,712 517,783
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
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......... 509,995 506,712
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 509,995 506,712
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 509,995 506,712
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)............... 1 509,995
2 Enter amount from Part I, line 27a..................... 2 -2,452
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 422
4 Add lines 1, 2, and 3.......................... 4 507,965
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 1,253
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 506,712
Form 990-PF (2011)
Form 990-PF (2011)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a 1000. AT&T INC DTD 05/13/08 5.6% 05/15/2018   2009-07-07 2011-01-07
b 1000. GOLDMAN SACHS GROUP INC DTD 2/5/09 7.5%   2010-05-20 2011-01-07
c 1000. ORACLE CORPORATION DTD 04/09/08 5.75% 04   2009-07-07 2011-01-07
d 1000. TARGET CORP CALLABLE 5.375% 05/01/2017   2009-11-09 2011-01-07
e 1000. VERIZON COMMUNICATIONS 5.55% 02/15/201   2009-07-07 2011-01-07
732.45 FEDERAL HOME LOAN MTG CORP POOL #G13174 DTD 05/01/08 5% 06/01/2   2009-06-08 2011-01-18
269.36 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-01-25
658.56 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-01-25
396.81 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-01-25
181.24 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-01-25
1000. CITIGROUP INC FDIC GUARANTEED DTD 08/06/2009 2.25% 12/10/2012   2010-03-08 2011-01-28
4000. CITIGROUP INC FDIC GUARANTEED DTD 08/06/2009 2.25% 12/10/2012   2009-12-15 2011-01-28
2000. UNITED STATES TREASURY N/B DTD 11/30/09   2010-04-30 2011-01-28
1000. GOLDMAN SACHS GROUP INC DTD 5/6/09 6% 05   2009-07-07 2011-02-07
3000. GENERAL ELECTRIC CO 5% 02/01/2013   2009-07-07 2011-02-09
3000. UNITED STATES TREASURY N/B DTD 11/30/09   2011-02-07 2011-02-14
2000. UNITED STATES TREASURY N/B DTD 11/30/09   2009-12-14 2011-02-14
466.06 FEDERAL HOME LOAN MTG CORP POOL #G13174 DTD 05/01/08 5% 06/01/2   2009-06-08 2011-02-15
183.26 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14031 DTD 01/01/2011 5%   2011-01-07 2011-02-15
240.94 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-02-25
562.82 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-02-25
119.22 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-02-25
179.35 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-02-25
2000. VERIZON COMMUNICATIONS 5.55% 02/15/201   2009-06-08 2011-03-10
417.53 FEDERAL HOME LOAN MTG CORP POOL #G13174 DTD 05/01/08 5% 06/01/2   2009-06-08 2011-03-15
161.78 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14031 DTD 01/01/2011 5%   2011-01-07 2011-03-15
50. ABBOTT LABS W/RIGHTS ATTACHED EXP 11/10/2009   2010-01-15 2011-03-25
10. CATERPILLAR INC   2010-02-10 2011-03-25
30. E M C CORP MASS COM   2010-01-15 2011-03-25
80. EATON CORP   2010-01-15 2011-03-25
190.18 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-03-25
739.95 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-03-25
307.61 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-03-25
105.14 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-03-25
20. JUNIPER NETWORKS   2010-01-15 2011-03-25
60. TIFFANY & CO   2010-01-15 2011-03-25
50. WALMART STORES INC COM   2010-01-15 2011-03-25
1000. MERRILL LYNCH & CO INC SERIES: MTN DTD 04/25/08 6.875% 04/25/201   2009-11-09 2011-04-07
1000. WACHOVIA CORP DTD 06/08/07 5.75% 06/15/2   2009-07-07 2011-04-07
10000. FANNIE MAE DTD 03/07/08 2.75% 04/11/2011   2009-11-09 2011-04-11
474.38 FEDERAL HOME LOAN MTG CORP POOL #G13174 DTD 05/01/08 5% 06/01/2   2009-06-08 2011-04-15
157.6 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14031 DTD 01/01/2011 5% 1   2011-01-07 2011-04-15
268.16 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-04-25
351.91 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-04-25
378.53 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-04-25
97.23 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-04-25
1000. CITIGROUP INC DTD 06/15/2010 6% 12/13/20   2010-12-13 2011-05-06
1000. COMCAST CORP DTD 06/18/09 5.7% 07/01/201   2009-07-08 2011-05-06
1000. UNITED STATES TREASURY N/B DTD 08/16/201   2010-09-13 2011-05-06
281.31 FEDERAL HOME LOAN MTG CORP POOL #G13174 DTD 05/01/08 5% 06/01/2   2009-06-08 2011-05-16
124.34 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14031 DTD 01/01/2011 5%   2011-01-07 2011-05-16
57.963 AMERICAN EUROPACIFIC GRTH-F2   2010-01-15 2011-05-18
229.599 MFS RESH INTL FD CL I   2010-01-15 2011-05-18
279.036 OPPENHEIMER MAIN ST SMALL CAP FD CL Y   2007-12-27 2011-05-18
363.656 PIONEER SELECT MID CAP GROWTH Y   2000-07-26 2011-05-18
161.42 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-05-25
330.66 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-05-25
263.12 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-05-25
74.47 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-05-25
39000. UNITED STATES TREASURY N/B DTD 11/30/09   2011-05-18 2011-06-07
279.3 FEDERAL HOME LOAN MTG CORP POOL #G13174 DTD 05/01/08 5% 06/01/20   2009-06-08 2011-06-15
118.82 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14031 DTD 01/01/2011 5%   2011-01-07 2011-06-15
180.7 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/0   2009-11-09 2011-06-27
387.65 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-06-27
406.09 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-06-27
95.62 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-06-27
1000. GOLDMAN SACHS GROUP INC FDIC INSURED DTD 01/21/09 1.625% 07/15/2   2011-06-07 2011-07-07
6000. GOLDMAN SACHS GROUP INC FDIC INSURED DTD 01/21/09 1.625% 07/15/2   2009-07-07 2011-07-07
1000. TARGET CORP CALLABLE 5.375% 05/01/2017   2011-06-07 2011-07-07
1000. UNITED STATES TREASURY N/B DTD 11/15/201   2011-06-07 2011-07-07
261.88 FEDERAL HOME LOAN MTG CORP POOL #G13174 DTD 05/01/08 5% 06/01/2   2009-06-08 2011-07-15
221.86 FEDERAL HOME LOAN MTG CORP POOL #G13225 DTD 06/01/2008 5% 06/01   2011-06-07 2011-07-15
117.36 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14031 DTD 01/01/2011 5%   2011-01-07 2011-07-15
174.41 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-07-25
253.49 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-07-25
278.47 FEDERAL NATIONAL MORTGAGE ASSN POOL #888021 DTD 11/01/2006 6% 1   2011-06-07 2011-07-25
182.79 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-07-25
52.2 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-07-25
11799.73 FEDERAL HOME LOAN MTG CORP POOL #G13174 DTD 05/01/08 5% 06/01   2009-06-08 2011-08-09
8981.27 FEDERAL HOME LOAN MTG CORP POOL #G13225 DTD 06/01/2008 5% 06/0   2011-06-07 2011-08-09
5020.02 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14031 DTD 01/01/2011 5%   2011-01-07 2011-08-09
1000. FEDERAL NATIONAL MORTGAGE ASSN 5% 03/1   2011-06-07 2011-08-09
180. BANK OF AMERICA CORP   2010-01-15 2011-08-15
5. CATERPILLAR INC   2010-02-10 2011-08-15
5. CHEVRONTEXACO CORP COM   2010-01-15 2011-08-15
377.06 FEDERAL HOME LOAN MTG CORP POOL #G13174 DTD 05/01/08 5% 06/01/2   2009-06-08 2011-08-15
271.58 FEDERAL HOME LOAN MTG CORP POOL #G13225 DTD 06/01/2008 5% 06/01   2011-06-07 2011-08-15
116.82 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14031 DTD 01/01/2011 5%   2011-01-07 2011-08-15
15. HALLIBURTON CO   2010-01-15 2011-08-15
100. ROBERT HALF INTL INC COM   2010-01-15 2011-08-15
2000. UNITED STATES TREASURY N/B DTD 11/30/09   2011-05-18 2011-08-18
1000. UNITED STATES TREASURY N/B DTD 11/30/09   2011-05-18 2011-08-24
161.3 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/0   2009-11-09 2011-08-25
258.87 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-08-25
300.77 FEDERAL NATIONAL MORTGAGE ASSN POOL #888021 DTD 11/01/2006 6% 1   2011-06-07 2011-08-25
215.42 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-08-25
40.93 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-08-25
1046.97 UNITED STATES TREASURY INFLATION INDEX BOND DTD 07/15/08 1.375   2011-06-07 2011-08-25
11516.67 UNITED STATES TREASURY INFLATION INDEX BOND DTD 07/15/08 1.37   2009-11-10 2011-08-25
3000. UNITED STATES TREASURY N/B DTD 11/30/09   2011-05-18 2011-09-13
103.61 FEDERAL HOME LOAN MTG CORP POOL #G01840 DTD 06/01/2005 5% 07/01   2011-08-11 2011-09-15
100.12 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14056 DTD 02/01/2011 4%   2011-08-11 2011-09-15
20.36 FEDERAL HOME LOAN MORTGAGE CORP POOL #J16353 DTD 08/01/2011 3.5%   2011-08-11 2011-09-15
3000. UNITED STATES TREASURY N/B DTD 11/30/09   2011-05-18 2011-09-15
100.07 FEDERAL NATIONAL MORTGAGE ASSN POOL #AH6827 DTD 03/01/2011 4% 0   2011-08-09 2011-09-26
157.97 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-09-26
111.94 FEDERAL NATIONAL MORTGAGE ASSN POOL #735580 DTD 05/01/05 5% 06/   2011-08-09 2011-09-26
317.68 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-09-26
305.84 FEDERAL NATIONAL MORTGAGE ASSN POOL #888021 DTD 11/01/2006 6% 1   2011-06-07 2011-09-26
331.29 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-09-26
83.39 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-09-26
125.98 FEDERAL NATIONAL MORTGAGE ASSN POOL #AE3066 DTD 09/01/2010 3.5%   2011-08-09 2011-09-26
1000. CA INC DTD 11/13/09 5.375% 12/01/2019   2010-04-16 2011-10-06
10000. UNITED STATES TREASURY N/B DTD 11/30/09   2011-09-01 2011-10-06
15000. UNITED STATES TREASURY N/B DTD 11/30/09   2009-12-14 2011-10-06
3000. UNITED STATES TREASURY DTD 02/16/2010 3.   2010-05-03 2011-10-06
6000. UNITED STATES TREASURY N/B DTD 11/15/201   2010-12-10 2011-10-06
110. MICROSOFT CORP COM   2010-08-27 2011-10-13
35. V F CORP   2010-08-27 2011-10-13
112.65 FEDERAL HOME LOAN MTG CORP POOL #G01840 DTD 06/01/2005 5% 07/01   2011-08-11 2011-10-17
160.31 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14056 DTD 02/01/2011 4%   2011-08-11 2011-10-17
74.05 FEDERAL HOME LOAN MORTGAGE CORP POOL #J16353 DTD 08/01/2011 3.5%   2011-08-11 2011-10-17
210.43 FEDERAL NATIONAL MORTGAGE ASSN POOL #AH6827 DTD 03/01/2011 4% 0   2011-08-09 2011-10-25
161.18 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-10-25
110.19 FEDERAL NATIONAL MORTGAGE ASSN POOL #735580 DTD 05/01/05 5% 06/   2011-08-09 2011-10-25
420.56 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-10-25
295.42 FEDERAL NATIONAL MORTGAGE ASSN POOL #888021 DTD 11/01/2006 6% 1   2011-06-07 2011-10-25
170.39 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-10-25
58.61 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-10-25
216.63 FEDERAL NATIONAL MORTGAGE ASSN POOL #AE3066 DTD 09/01/2010 3.5%   2011-08-09 2011-10-25
3000. BB& T CORPORATION DTD 7/27/09 3.85% 07/2   2010-04-29 2011-10-28
1000. CITIGROUP INC DTD 06/15/2010 6% 12/13/20   2011-06-07 2011-11-04
1000. KRAFT FOODS INC DTD 02/08/2010 4.125% 02   2010-02-05 2011-11-04
1000. UNITED STATES TREASURY N/B DTD 06/01/10   2011-10-06 2011-11-04
3000. UNITED STATES TREASURY N/B DTD 06/01/10   2011-10-06 2011-11-09
3000. UNITED STATES TREASURY N/B DTD 06/01/10   2011-10-06 2011-11-14
135.4 FEDERAL HOME LOAN MTG CORP POOL #G01840 DTD 06/01/2005 5% 07/01/   2011-08-11 2011-11-15
192.35 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14056 DTD 02/01/2011 4%   2011-08-11 2011-11-15
124.09 FEDERAL HOME LOAN MORTGAGE CORP POOL #J16353 DTD 08/01/2011 3.5   2011-08-11 2011-11-15
161.55 FEDERAL NATIONAL MORTGAGE ASSN POOL #AH6827 DTD 03/01/2011 4% 0   2011-08-09 2011-11-25
159.24 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-11-25
135.47 FEDERAL NATIONAL MORTGAGE ASSN POOL #735580 DTD 05/01/05 5% 06/   2011-08-09 2011-11-25
227.96 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-11-25
328.35 FEDERAL NATIONAL MORTGAGE ASSN POOL #888021 DTD 11/01/2006 6% 1   2011-06-07 2011-11-25
243.86 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-11-25
32.09 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-11-25
191.98 FEDERAL NATIONAL MORTGAGE ASSN POOL #AE3066 DTD 09/01/2010 3.5%   2011-08-09 2011-11-25
5000. UNITED STATES TREASURY N/B DTD 06/01/10   2011-10-06 2011-11-30
1000. GENERAL ELECTRIC CO 5% 02/01/2013   2011-06-07 2011-12-06
1000. GENERAL ELEC CAP CORP FDIC INSURED DTD 01/08/09 2.2% 06/08/2012   2011-06-07 2011-12-06
1000. UNITED STATES TREASURY N/B DTD 08/16/201   2011-10-06 2011-12-06
1006.14 UNITED STATES TREASURY INFLATION INDEX BOND DTD 07/29/2011 .62   2011-08-25 2011-12-06
1000. PETROBRAS INTL FIN CO DTD 10/30/09 5.75%   2009-11-09 2011-12-07
138.54 FEDERAL HOME LOAN MTG CORP POOL #G01840 DTD 06/01/2005 5% 07/01   2011-08-11 2011-12-15
162.04 FEDERAL HOME LOAN MORTGAGE CORP POOL #G14056 DTD 02/01/2011 4%   2011-08-11 2011-12-15
140.51 FEDERAL HOME LOAN MORTGAGE CORP POOL #J16353 DTD 08/01/2011 3.5   2011-08-11 2011-12-15
50. HESS CORPORATION   2010-01-15 2011-12-15
188.09 FEDERAL NATIONAL MORTGAGE ASSN POOL #AH6827 DTD 03/01/2011 4% 0   2011-08-09 2011-12-27
38.59 FEDERAL NATIONAL MORTGAGE ASSN POOL #AL0393 DTD 06/01/2011 4.5%   2011-11-04 2011-12-27
162.58 FEDERAL NATIONAL MORTGAGE ASSN POOL #735516 DTD 04/01/05 5% 02/   2009-11-09 2011-12-27
125.41 FEDERAL NATIONAL MORTGAGE ASSN POOL #735580 DTD 05/01/05 5% 06/   2011-08-09 2011-12-27
306.03 FEDERAL NATIONAL MORTGAGE ASSN POOL #831811 DTD 10/01/06 6% 09/   2009-06-08 2011-12-27
274.17 FEDERAL NATIONAL MORTGAGE ASSN POOL #888021 DTD 11/01/2006 6% 1   2011-06-07 2011-12-27
331.81 FEDERAL NATIONAL MORTGAGE ASSN POOL #946391 DTD 08/01/2007 6% 0   2010-12-07 2011-12-27
58.11 FEDERAL NATIONAL MORTGAGE ASSN POOL #963   2009-06-08 2011-12-27
162.82 FEDERAL NATIONAL MORTGAGE ASSN POOL #AE3066 DTD 09/01/2010 3.5%   2011-08-09 2011-12-27
(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 1,110   1,018 92
b 1,166   1,093 73
c 1,135   1,060 75
d 1,127   1,072 55
e 1,124   1,034 90
732   753 -21
269   287 -18
659   687 -28
397   432 -35
181   186 -5
1,029   1,012 17
4,116   4,048 68
2,008   1,999 9
1,103   1,043 60
3,203   3,059 144
3,012   3,003 9
2,008   1,997 11
466   479 -13
183   196 -13
241   256 -15
563   587 -24
119   130 -11
179   184 -5
2,247   2,036 211
418   429 -11
162   173 -11
2,399   2,781 -382
1,090   538 552
813   541 272
4,292   2,716 1,576
190   202 -12
740   772 -32
308   335 -27
105   108 -3
814   537 277
3,578   2,726 852
2,607   2,686 -79
1,113   1,074 39
1,104   999 105
10,000   10,000  
474   488 -14
158   169 -11
268   285 -17
352   367 -15
379   412 -33
97   100 -3
1,095   1,079 16
1,108   1,010 98
1,001   998 3
281   289 -8
124   133 -9
2,497   2,259 238
3,807   3,359 448
6,476   5,798 678
7,204   5,960 1,244
161   172 -11
331   345 -14
263   286 -23
74   76 -2
39,117   39,116 1
279   287 -8
119   127 -8
181   192 -11
388   404 -16
406   442 -36
96   98 -2
1,000   1,002 -2
6,001   6,002 -1
1,144   1,152 -8
963   972 -9
262   269 -7
222   238 -16
117   126 -9
174   186 -12
253   264 -11
278   309 -31
183   199 -16
52   54 -2
12,720   12,128 592
9,682   9,653 29
5,411   5,368 43
1,163   1,143 20
1,384   2,946 -1,562
453   269 184
490   395 95
377   388 -11
272   292 -20
117   125 -8
714   509 205
2,329   2,865 -536
2,004   2,000 4
1,002   1,000 2
161   172 -11
259   270 -11
301   333 -32
215   234 -19
41   42 -1
1,175   1,137 38
12,927   11,706 1,221
3,004   3,000 4
104   113 -9
100   106 -6
20   21 -1
3,004   3,000 4
100   105 -5
158   168 -10
112   121 -9
318   331 -13
306   339 -33
331   360 -29
83   86 -3
126   131 -5
1,083   1,029 54
10,011   10,000 11
15,016   14,979 37
3,462   2,985 477
6,409   5,701 708
2,963   3,267 -304
4,577   2,588 1,989
113   122 -9
160   170 -10
74   77 -3
210   221 -11
161   172 -11
110   119 -9
421   439 -18
295   327 -32
170   185 -15
59   60 -1
217   225 -8
3,068   3,043 25
1,059   1,078 -19
1,093   1,004 89
1,004   1,004  
3,011   3,011  
3,011   3,011  
135   147 -12
192   204 -12
124   130 -6
162   170 -8
159   169 -10
135   146 -11
228   238 -10
328   364 -36
244   265 -21
32   33 -1
192   199 -7
5,017   5,016 1
1,044   1,047 -3
1,010   1,019 -9
1,008   1,008  
1,071   1,058 13
1,066   1,024 42
139   151 -12
162   171 -9
141   147 -6
2,724   3,117 -393
188   198 -10
39   41 -2
163   173 -10
125   135 -10
306   319 -13
274   304 -30
332   361 -29
58   60 -2
163   169 -6
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       92
b       73
c       75
d       55
e       90
      -21
      -18
      -28
      -35
      -5
      17
      68
      9
      60
      144
      9
      11
      -13
      -13
      -15
      -24
      -11
      -5
      211
      -11
      -11
      -382
      552
      272
      1,576
      -12
      -32
      -27
      -3
      277
      852
      -79
      39
      105
       
      -14
      -11
      -17
      -15
      -33
      -3
      16
      98
      3
      -8
      -9
      238
      448
      678
      1,244
      -11
      -14
      -23
      -2
      1
      -8
      -8
      -11
      -16
      -36
      -2
      -2
      -1
      -8
      -9
      -7
      -16
      -9
      -12
      -11
      -31
      -16
      -2
      592
      29
      43
      20
      -1,562
      184
      95
      -11
      -20
      -8
      205
      -536
      4
      2
      -11
      -11
      -32
      -19
      -1
      38
      1,221
      4
      -9
      -6
      -1
      4
      -5
      -10
      -9
      -13
      -33
      -29
      -3
      -5
      54
      11
      37
      477
      708
      -304
      1,989
      -9
      -10
      -3
      -11
      -11
      -9
      -18
      -32
      -15
      -1
      -8
      25
      -19
      89
       
       
       
      -12
      -12
      -6
      -8
      -10
      -11
      -10
      -36
      -21
      -1
      -7
      1
      -3
      -9
       
      13
      42
      -12
      -9
      -6
      -393
      -10
      -2
      -10
      -10
      -13
      -30
      -29
      -2
      -6
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 8,628
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 24,430 517,026 0.047251
2009 22,604 480,282 0.047064
2008 11,753 550,319 0.021357
2007      
2006      
2 Total of line 1, column (d) ...................... 2 0.115672
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 0.038557
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 534,517
5 Multiply line 4 by line 3....................... 5 20,609
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 168
7 Add lines 5 and 6......................... 7 20,777
8 Enter qualifying distributions from Part XII, line 4.............. 8 20,070
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 1 337
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2............................ 3 337
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 337
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 76
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 76
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 261
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 taxBullet   Refunded Bullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (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)bulletAL
    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 addressbullet  
    14
    The books are in care ofbulletREGIONS BANK TRUST DEPT Telephone no.bullet (251) 690-1024
    Located atbullet11 N WATER STREETMOBILEAL ZIP+4bullet36602
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2011?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2011, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2011?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
    No
    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
    REGIONS BANK TRUST DEPARTMENT TRUSTEE
    1     		6,419    
    P O BOX 10247 SUITE 300
    BIRMINGHAM,AL35202
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3..........................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
    542,657
    b
    Average of monthly cash balances.......................
    1b
    0
    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
    542,657
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    542,657
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    8,140
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    534,517
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    26,726
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    26,726
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    337
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    337
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    26,389
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    26,389
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    26,389
    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
    20,070
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    20,070
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    20,070
    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 26,389
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 17,985
    b Total for prior years:2009, 20, 20 0
    3 Excess distributions carryover, if any, to 2011:
    a From 2006....... 0
    b From 2007....... 0
    c From 2008....... 0
    d From 2009....... 0
    e From 2010....... 0
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 20,070
    a Applied to 2010, but not more than line 2a 17,985
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		 0
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2011 distributable amount..... 2,085
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2011. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		0
    e Undistributed income for 2010. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		0
    f Undistributed income for 2011. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		24,304
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		0
    8Excess distributions carryover from 2006 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		0
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2007.... 0
    b Excess from 2008.... 0
    c Excess from 2009.... 0
    d Excess from 2010.... 0
    e Excess from 2011.... 0
    Form 990-PF (2011)
    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:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2011)
    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
    DARLINGTON SCHOOL
    ATTNBETH POLLARD
    1014 CAVE SPRING ROAD
    ROME,GA30161     		NONE PUBLIC SCHOLARSHIP 17,986
    Total .................................bullet 3a 17,986
    bApproved for future payment
    Total .................................bullet 3b  
    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 5  
    4 Dividends and interest from securities....     14 14,190  
    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 8,628  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   22,823  
    13Total. Add line 12, columns (b), (d), and (e)..................
    1322,823
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2011 AccountingFeesSchedule
    Name:
    BILL DUNN FUND 1055002341
    EIN: 63-6045180
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 800     800

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    BILL DUNN FUND 1055002341
    EIN: 63-6045180
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AT&T INC 5.6% 5/15/2018 2,025 2,324
    CATERPILAR INC 7.9% 12/15/2018 2,175 2,663
    COMCAST CORP 5.7% 7/1/2019 2,019 2,320
    CREDIT SUISSE 5.5% 5/1/2014 5,169 5,197
    GEN ELEC CO 5% 2/1/2013 2,022 2,084
    GOLDMAN SACHS 6% 5/1/2014 3,120 3,125
    HESS CORP 8.125% 2/15/2019 2,322 2,567
    MERL LYNCH 6.875% 4/25/2018 1,993 1,972
    ORACLE CORP 5.75% 4/15/2018 2,081 2,427
    PETROBRAS 5.75% 1/20/2020 1,998 2,140
    TALISMAN ENERGY 7.75% 6/1/2019 2,275 2,466
    TARGET CORP 5.375% 5/1/2017 2,033 2,351
    TIME WARNER 6.75% 7/1/2018 2,157 2,375
    VERIZON COM 5.55% 2/15/2016    
    WACHOVIA CORP 5.75% 6/15/2017 1,910 2,260
    BB&T CORP 3.85% 7/27/2012    
    BARCLAYS BANK 3.9% 4/7/2015 3,003 3,013
    CSX CORP 6.25% 4/1/2015 2,169 2,285
    CA INC 5.375% 12/1/2019 2,028 2,182
    CITI GROUP 6% 12/13/2013 2,123 2,070
    DIRECTV HLDG 3.55% 3/15/2015 3,086 3,123
    GOLDMAN SACHS 7.5% 2/15/2019 2,175 2,209
    HEW PACKARD 2.2% 12/01/2015 2,997 2,930
    KRAFT FOOD 4.125% 2/9/2016 2,001 2,171
    PRUDENTIAL FIN 4.5% 11/15/2020 2,980 3,017
    CITIGROUP 2.25% 12/10/2012    
    JOHN DERE CAP 2.875% 6/19/2012    
    GEN ELEC CAP 2.2% 6/8/2012    
    GOLDMAN SACHS 1.625% 7/15/2011    
    FHLM CORP POOL 5% 7/1/35 4,403 4,359
    FHLM CORP POOL 4% 8/1/25 4,219 4,186
    FHLM CORP POOL 3.5% 8/1/26 4,854 4,842
    FNMA POOL 4% 3/1/26 4,348 4,371
    FNMA POOL 4.5% 6/1/41 3,034 3,053
    FNMA POOL 5% 2/1/20 5,957 6,048
    FNMA POOL 5% 6/1/35 4,581 4,593
    FNMA POOL 6% 9/1/36 14,584 15,529
    FNMA POOL 6% 12/1/36 11,885 11,833
    FNMA POOL 6% 9/1/37 13,006 13,175
    FNMA POOL 5% 6/1/23 2,785 2,919
    FNMA POOL 3.5% 9/1/25 3,884 3,918
    AMERICAN EXP CRD 2.75% 9/15/15 3,060 3,016
    ANHEUSER-BUSCH 2.875% 2/15/16 3,037 3,165
    DUKE ENERGY CO 2.15% 11/15/16 3,002 3,009
    GENERAL ELEC CAP 5.3% 2/11/21 3,031 3,207
    INTEL CORP 3.3% 10/1/21 2,988 3,160
    MORGAN STANLEY 4.2% 11/20/14 5,199 4,822
    ONTARIO PROV OF 1.375% 1/27/14 5,001 5,052
    SUNTRUST BKS INC 3.5% 1/20/17 3,004 3,015
    TELEFONICA EMIS 5.462% 2/16/21 3,076 2,863
    TEVA PHARMA FIN 1.7% 11/10/14 2,999 3,023
    TOYOTA MOTOR CRD 3.4% 9/15/21 2,992 3,092

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    BILL DUNN FUND 1055002341
    EIN: 63-6045180
    Name of Stock End of Year Book Value End of Year Fair Market Value
    OPPENHEIMER MAIN ST SMALL CAP 22,408 22,590
    PIONEER SELECT MID CAP 20,278 22,275
    ABBOTT LABS    
    ALLERGEN INC 3,013 4,387
    AMERCIAN EXPRESS CO 2,980 3,302
    APACHE CORP 3,235 2,717
    AUTO DESK INC 2,855 3,033
    BANK OF AMERICA CORP    
    CVS/CAREMARK CORP 3,000 3,670
    CATERPILLAR INC 1,884 3,171
    CHEVRON CORP 2,763 3,724
    CISCO SYS INC 2,948 2,170
    E M C CORP MASS 2,343 2,800
    EATON CORP    
    EXXON MOBIL CORP 2,761 3,390
    GENERAL ELECTRIC 3,395 3,313
    GOLDMAN SACHS GROUP 3,321 1,809
    HALLIBURTON 2,543 2,588
    HESS CORP    
    INTEL CORP 2,938 3,395
    J P MORGAN CHASE & CO 3,072 2,328
    JOHNSON & JOHNSON 2,579 2,623
    JUNIPER NETWORK INC 2,415 1,837
    MATTEL INC 2,867 3,470
    MCGRAW HILL 3,084 4,047
    MERCK & CO 2,628 2,828
    MICROSOFT CORP    
    MONSANTO CO NEW 3,572 3,504
    NEXTRA ENERGY INC 2,691 3,044
    NORFOLK SOUTHER CORP 2,638 3,643
    ORACLE CORP 2,779 2,822
    PEPSICO INC 3,124 3,318
    PHILLIP MORRIS INTERNATIONAL 2,982 4,709
    PROCTER & GAMBLE CO 3,048 3,336
    PRUDENTIAL FIN INC 2,683 2,506
    QUALCOMM INC 2,921 3,282
    ROBERT HALF INTERNATIONAL INC    
    SCHLUMBERGER LTD 2,835 2,732
    STAPLES INC 3,688 2,292
    STATE STREET CORP 3,000 2,822
    STRYKER CORP 3,241 2,983
    THERMO FISHER SCIENTIFIC INC 2,872 2,698
    3M CO 2,495 2,452
    TIFFANY & CO    
    TRAVELERS COMPANIES INC 2,932 3,550
    UNITED TECHNOLOGIES CORP 2,880 2,924
    VF CORP    
    VERIZON COMMUNICATION 2,588 3,611
    VISA INC CLASS A SHRS 3,261 4,061
    WAL MART STORES    
    WALGREEN CO 3,201 2,975
    TEVA PHARMACEUTICAL INDS 2,920 2,018
    AMERICAN EUROPACIFIC GRTH-F2 22,349 20,535
    MFS RESH INTL FD 21,407 20,595
    BLACKROCK INC 3,788 3,565
    BROADCOM CORP 3,145 2,496
    EMERSON ELECTRIC CO 3,475 2,795
    GOOGLE INC CL A 3,493 3,875
    HASBRO INC 2,653 2,232
    LAB CORP AMER HLDGS COM 3,145 3,439
    OCCIDENTAL PETE CORP 2,621 2,811
    PRAXAIR INC 2,486 2,673
    TEXAS INSTRS INC 3,473 2,911
    ISHARES MSCI EMERGING MKT IN 3,849 3,794

    TY 2011 InvestmentsGovtObligationsSch
    Name:
    BILL DUNN FUND 1055002341
    EIN: 63-6045180
    US Government Securities - End of Year Book Value:

    89,548
    US Government Securities - End of Year Fair Market Value:

    90,963
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2011 OtherDecreasesSchedule
    Name:
    BILL DUNN FUND 1055002341
    EIN: 63-6045180
    Description Amount
    AMORTIZATION ADJUSTMENT 1,253


    TY 2011 OtherIncreasesSchedule
    Name:
    BILL DUNN FUND 1055002341
    EIN: 63-6045180
    Description Amount
    ROUNDING ADJUSTMENT 1
    ACCRECTION ADJUSTMENT 27
    OID ADJUSTMENT 394


    TY 2011 TaxesSchedule
    Name:
    BILL DUNN FUND 1055002341
    EIN: 63-6045180
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 5 119   0
    2011 EXCISE TAX ESTIMATE 65 0   0