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 03-01-2011 , and ending 02-29-2012
G
Check all that apply:
Name of foundation
WAYNE C STEWART FOUNDATION 050009586000
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 3168   Room/suite
City or town, state, and ZIP code
PORTLAND, OR97208
A Employer identification number

91-6574050
B Telephone number (see page 10 of the instructions)

(503) 275-4327
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$6,005,137J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 147,278 147,278  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 126,570
b Gross sales price for all assets on line 6a 977,304
7 Capital gain net income (from Part IV, line 2)... 126,570
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........ 273,848 273,848  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 58,000 52,200   5,800
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 1,500 0 0 1,500
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 4,209     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)....... Click to see attachment 924     924
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 64,633 52,200 0 8,224
25 Contributions, gifts, grants paid........ 238,860 238,860
26 Total expenses and disbursements. Add lines 24 and 25 303,493 52,200 0 247,084
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -29,645
b Net investment income (if negative, enter -0-) 221,648
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...............   24 24
2 Savings and temporary cash investments.......... 104,701 158,535 158,535
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)      
b Investments—corporate stock (attach schedule)........ 3,319,725 Click to see attachment3,268,622 5,087,381
c Investments—corporate bonds (attach schedule)........ 800,000 Click to see attachment800,000 759,197
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) 4,224,426 4,227,181 6,005,137
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......... 4,224,426 4,227,181
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).................... 4,224,426 4,227,181
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 4,224,426 4,227,181
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 4,224,426
2 Enter amount from Part I, line 27a..................... 2 -29,645
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 36,173
4 Add lines 1, 2, and 3.......................... 4 4,230,954
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 3,773
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 4,227,181
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 401. TURKCELL ILETISIM HIZMET A D R   2008-02-28 2011-03-10
b 279. CENTRAL EUROPEAN DISTRIBUTION CORP     2011-03-24
c 259. GLAXO SMITHKLINE P L C A D R     2011-03-24
d 205. VIVO PARTICIPACOES S A A D R   2011-01-10 2011-03-31
e 226. VALE SA SP A D R   2008-02-28 2011-04-11
334. BANCO BRADESCO A D R   2010-09-10 2011-04-14
1048. THOMPSON CREEK METALS CO INC     2011-04-14
134. SWISS REINSURANCE CO SPSD ADR   2010-01-13 2011-04-20
294. CENTRICA PLC A D R     2011-05-12
422. KEPPEL CORP LTD SPONS A D R   2008-02-28 2011-05-20
.8 CITIGROUP INC   1993-03-12 2011-05-25
3130. IPATH DOW JONES UBS COMMODITY   2009-08-03 2011-06-01
18. FUJIFILM HOLDINGS A D R   2010-04-23 2011-06-01
229. FUJIFILM HOLDINGS A D R     2011-06-01
27186.433 CREDIT SUISSE COMM RET ST CO     2011-06-03
494. TURKCELL ILETISIM HIZMET A D R   2008-02-28 2011-06-17
. ROYAL DUTCH PETE NY REG N GLDR 1.25     2011-06-28
. ROYAL DUTCH PETE NY REG N GLDR 1.25     2011-06-28
.2787 SANOFI A D R   2008-08-15 2011-07-12
87. AGRIUM INC   2008-02-28 2011-07-15
11587.983 AMERICAN CENTURY CAP VALUE FUND INV   2004-12-16 2011-08-01
3129.771 T ROWE PRICE GROWTH STK CL ADV   2004-12-16 2011-08-01
2786.885 T ROWE PRICE INTL GR&INC ADV   2004-12-16 2011-08-01
212. SONY CORP A D R     2011-08-16
621. SOCIETE GENERALE FRANCE SPONSOR ADR   2010-09-15 2011-09-12
430. SOCIETE GENERALE FRANCE SPONSOR ADR   2009-10-15 2011-09-12
88. BAYER AG A D R   2011-05-20 2011-09-14
39. CNOOC LTD A D R   2010-03-10 2011-09-22
174. FOCUS MEDIA HOLDING A D R   2010-06-09 2011-09-22
345. B N P PARIBAS S A A D R   2010-05-11 2011-09-23
215. SONY CORP A D R   2011-03-24 2011-10-14
206. VALE SA SP A D R   2008-02-28 2011-10-25
942. PRECISION DRILLING TRUST     2011-10-31
668. INFINEON TECHNOLOGIES A G A D R     2011-11-09
71. VOLVO AB SPONSORED A D R   2011-02-16 2011-11-09
121. VOLVO AB SPONSORED A D R   2011-02-16 2011-11-10
275. VOLVO AB SPONSORED A D R     2011-11-10
351. UBS AG REG   2010-08-27 2011-11-14
185. FOCUS MEDIA HOLDING A D R   2010-06-09 2011-11-21
647. INFINEON TECHNOLOGIES A G A D R   2010-12-15 2011-11-21
374. TOKIO MARINE HOLDINGS A D R     2012-01-11
7204.611 OPPENHEIMER COM STR TR FD Y   2012-01-04 2012-01-12
91. TRANSOCEAN LTD   2012-01-11 2012-01-12
210. NOVARTIS AG A D R     2012-01-26
317. FUJIFILM HOLDINGS A D R     2012-02-03
137. ASTRAZENECA P L C SPSD A D R     2012-02-16
500. INTERNATIONAL BUSINESS MACHINES CAPITAL STOCK   1983-01-31 2012-02-23
CAPITAL GAIN DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 5,677   10,494 -4,817
b 3,184   6,988 -3,804
c 9,746   9,177 569
d 8,167   7,099 1,068
e 6,857   7,087 -230
6,768   6,113 655
12,600   12,265 335
7,440   6,641 799
6,056   6,341 -285
7,690   6,073 1,617
32   159 -127
155,689   125,253 30,436
514   615 -101
6,510   7,132 -622
262,349   242,000 20,349
6,698   12,927 -6,229
31     31
31     31
11   10 1
7,785   6,592 1,193
70,455   81,000 -10,545
104,566   82,000 22,566
38,710   34,000 4,710
4,653   7,548 -2,895
2,643   7,496 -4,853
1,830   6,698 -4,868
4,597   7,152 -2,555
5,783   6,456 -673
5,017   2,755 2,262
5,779   11,629 -5,850
4,309   6,995 -2,686
4,618   6,459 -1,841
11,572   10,700 872
5,798   7,172 -1,374
818   1,227 -409
1,373   2,091 -718
3,120   3,961 -841
4,155   5,869 -1,714
2,857   2,929 -72
4,917   6,037 -1,120
8,517   11,331 -2,814
24,424   25,000 -576
3,689   3,707 -18
11,516   10,830 686
7,453   7,901 -448
6,166   6,578 -412
96,927   12,247 84,680
      571
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       -4,817
b       -3,804
c       569
d       1,068
e       -230
      655
      335
      799
      -285
      1,617
      -127
      30,436
      -101
      -622
      20,349
      -6,229
      31
      31
      1
      1,193
      -10,545
      22,566
      4,710
      -2,895
      -4,853
      -4,868
      -2,555
      -673
      2,262
      -5,850
      -2,686
      -1,841
      872
      -1,374
      -409
      -718
      -841
      -1,714
      -72
      -1,120
      -2,814
      -576
      -18
      686
      -448
      -412
      84,680
       
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 2 126,570
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 258,599 5,254,414 0.049216
2009 299,417 4,838,502 0.061882
2008 258,922 5,282,780 0.049012
2007 158,257 5,746,327 0.027541
2006 2,611 2,836,327 0.000921
2 Total of line 1, column (d) ...................... 2 0.188572
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 0.037714
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 5,746,332
5 Multiply line 4 by line 3....................... 5 216,717
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,216
7 Add lines 5 and 6......................... 7 218,933
8 Enter qualifying distributions from Part XII, line 4.............. 8 247,084
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 2,216
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 2,216
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 2,216
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 4,048
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 4,048
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,832
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet1,832 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)bulletOR
    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 ofbulletUS BANK Telephone no.bullet (503) 275-4327
    Located atbullet555 SW OAKPORTLANDOR ZIP+4bullet97204
    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
    US BANK TRUSTEE
    1     		59,500    
    PO BOX 3168
    PORTLAND,OR97208
    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
    5,718,803
    b
    Average of monthly cash balances.......................
    1b
    115,037
    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
    5,833,840
    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
    5,833,840
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    87,508
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,746,332
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    287,317
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    287,317
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    2,216
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,216
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    285,101
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    21,563
    5
    Add lines 3 and 4............................
    5
    306,664
    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
    306,664
    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
    247,084
    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
    247,084
    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
    2,216
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    244,868
    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 7 306,664
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 210,261
    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$ 247,084
    a Applied to 2010, but not more than line 2a 210,261
    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..... 36,823
    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 ..........     		269,841
    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:
    LINDA THOMAS BUSH
    1025 NW BOND ST
    BEND,OR97701
    (541) 465-4120
    bThe form in which applications should be submitted and information and materials they should include:
    CONTACT ABOVE
    cAny submission deadlines:
    CONTACT ABOVE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    RESIDENTS OF GRANT COUNTY, OR
    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
    BOISE STATE UNIVERSITY
    1910 UNIVERSITY DRIVE
    BOISE,ID83725     		NONE PUBLIC SCHOLARSHIP 1,335
    CHEMEKETA COMM COLL
    FINANCIAL AID OFFICE
    PO BOX 14007
    SALEM,OR97309     		NONE PUBLIC SCHOLARSHIP 5,230
    CENTRAL OREGON COMM COLL
    FINANCIAL AID OFFICE
    2600 NW COLLEGE WAY
    BEND,OR97701     		NONE PUBLIC SCHOLARSHIP 5,610
    EASTERN OREGON UNIVERSITY
    FINANCIAL AID OFFICE
    ONE UNIVERSITY BLVD INLOW HALL ROOM
    LA GRANDE,OR97850     		NONE PUBLIC SCHOLARSHIP 15,695
    GEORGE FOX UNIVERSITY
    FINANCIAL AID OFFICE
    414 N MERIDIAN STREET
    NEWBERG,OR97132     		NONE PUBLIC SCHOLARSHIP 2,670
    LANE COMMUNITY COLLEGE
    FINANCIAL AID OFFICE
    4000 E 30TH AVE
    EUGENE,OR97405     		NONE PUBLIC SCHOLARSHIP 5,130
    LINN-BENTON COMM COLL
    FINANCIAL AID OFFICE
    6500 PACIFIC BLVD SW
    ALBANY,OR97321     		NONE PUBLIC SCHOLARSHIP 3,195
    LINFIELD COLLEGE
    FINANCIAL AID OFFICE
    900 SE BAKER ST
    MCMINNVILLE,OR97128     		NONE PUBLIC SCHOLARSHIP 2,890
    NEUMONT UNIVERSITY
    FINANCIAL AID OFFICE
    10701 S RIVER FRONT PKWY
    SOUTH JORDAN,UT84095     		NONE PUBLIC SCHOLARSHIP 2,890
    NORTHWEST NAZARENE UNIV
    FINANCIAL AID OFFICE
    623 S UNIVERSITY BLVD
    NAMPA,ID83686     		NONE PUBLIC SCHOLARSHIP 15,590
    OR HEALTH & SCIENCE UNIV
    FINANCIAL AID OFFICE
    3455 SW US VETERANS HOSP RD
    PORTLAND,OR97239     		NONE PUBLIC SCHOLARSHIP 7,704
    OREGON INSTITUTE OF TECH
    FINANCIAL AID OFFICE
    3201 CAMPUS DR
    KLAMATH FALLS,OR97601     		NONE PUBLIC SCHOLARSHIP 18,265
    OREGON STATE UNIVERSITY
    218 KERR ADMIN BLDG
    CORVALLIS,OR97331     		NONE PUBLIC SCHOLARSHIP 40,420
    PORTLAND COMM COLL
    FINANCIAL AID OFFICE
    PO BOX 19000
    PORTLAND,OR97280     		NONE PUBLIC SCHOLARSHIP 4,905
    PORTLAND STATE UNIVERSITY
    FINANCIAL AID OFFICE
    PO BOX 751
    PORTLAND,OR97207     		NONE PUBLIC SCHOLARSHIP 12,360
    PACIFIC UNIVERSITY
    FINANCIAL AID OFFICE
    2043 COLLEGE WAY
    FOREST GROVE,OR97116     		NONE PUBLIC SCHOLARSHIP 2,565
    SOUTHERN OREGON UNIV
    FINANCIAL AID OFFICE
    1250 SISKIYO BLVD
    ASHLAND,OR97520     		NONE PUBLIC SCHOLARSHIP 2,565
    SPOKANE FALLS COMM COLL
    3410 W FT GEORGE WRIGHT DR
    SPOKANE,WA99224     		NONE PUBLIC SCHOLARSHIP 5,130
    TREASURE VALLEY COMM COLL
    OFFICE OF FINANCIAL AID
    650 COLLEGE BLVD
    ONTARIO,OR97914     		NONE PUBLIC SCHOLARSHIP 16,270
    UNIVERSITY OF MONTANA
    FINANCIAL AID OFFICE
    32 CAMPUS DRIVE
    MISSOULA,MT59812     		NONE PUBLIC SCHOLARSHIP 5,010
    UNIVERSITY OF IDAHO
    FINANCIAL AID OFFICE
    PO BOX 444260
    MOSCOW,ID83844     		NONE PUBLIC SCHOLARSHIP 14,010
    WESTERN OREGON UNIVERSITY
    345 N MONMOUTH AVE
    MONMOUTH,OR97361     		NONE PUBLIC SCHOLARSHIP 6,643
    WILLAMETTE UNIVERSITY
    FINANCIAL AID OFFICE
    900 STATE STREET
    SALEM,OR97301     		NONE PUBLIC SCHOLARSHIP 7,795
    WALLA WALLA COMM COLL
    FIINANCIAL AID OFFICE
    500 TAUSICK WAY
    WALLA WALLA,WA99362     		NONE PUBLIC SCHOLARSHIP 7,570
    NOVA SOUTHEASTERN
    OFFICE OF FINANCIAL AID
    3301 COLLEGE AVE
    FT LAUDERDALEDAVIE,FL33314     		NONE PUBLIC SCHOLARSHIP 4,090
    ARIZONA CHRISTIAN UNIV
    BUSINESS OFFICE
    2625 E CACTUS WAY RD
    PHOENIX,AZ85032     		NONE PUBLIC SCHOLARSHIP 900
    FIVE BRANCHES UNIVERSITY
    FINANCIAL AID OFFICE
    200 7TH AVE
    SANTA CRUZ,CA95062     		NONE PUBLIC SCHOLARSHIP 2,670
    HAWAII PACIFIC UNIVERSITY
    FINANCIAL AID OFFICE
    114 BISHOP ST
    HONOLULU,HI96813     		NONE PUBLIC SCHOLARSHIP 2,670
    MILAN INSTITUTE
    FINANCIAL AID OFFICE
    1021 W HEMINGWAY
    NAMPA,ID83651     		NONE PUBLIC SCHOLARSHIP 2,340
    PHAGANS SCHOOL OF HAIR DESIGN
    FINANCIAL AID OFFICE
    11860 SE 82ND AVE
    HAPPY VALLEY,OR97086     		NONE PUBLIC SCHOLARSHIP 2,890
    ROSEBURG BEAUTY COLLEGE
    FINANCIAL AID OFFICE
    700 SE STEPHENS ST
    ROSEBURG,OR97470     		NONE PUBLIC SCHOLARSHIP 2,890
    PENN FOSTER COLLEGE
    FINANCIAL AID OFFICE
    14300 N NORTHSIDE BLVD 111
    SCOTTSDALE,AZ85260     		NONE PUBLIC SCHOLARSHIP 2,340
    TILLAMOOK BAY COMM COLL
    FINANCIAL AID OFFICE
    4301 THIRD ST
    TILLAMOOK,OR97141     		NONE PUBLIC SCHOLARSHIP 2,670
    WEBER STATE UNIVERSITY
    FINANCIAL AID OFFICE
    1136 UNIVERSITY CIRLCE
    OGDEN,UT84408     		NONE PUBLIC SCHOLARSHIP 1,283
    ANTHEM COLLEGE
    FINANCIAL AID OFFICE
    4145 SW WATSON AVE 300
    BEAVERTON,OR97705     		NONE PUBLIC SCHOLARSHIP 2,670
    Total .................................bullet 3a 238,860
    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          
    4 Dividends and interest from securities....     14 147,278  
    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     18 126,570  
    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)..   273,848  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13273,848
    (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:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TRUST TAX FEES 1,500     1,500

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AMERICAN CENTURY INTL BOND 250,000 250,173
    NUVEEN HIGH INCOME BOND FD 550,000 509,024

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMGEN INC 34,828 40,806
    ANADARKO PETE CORP 21,564 67,296
    AT&T INC 71,900 122,360
    BOEING CO 96,990 299,800
    CITIGROUP INC 15,063 2,532
    DISCOVER FINL SVCS 1,648 3,001
    EXXON MOBIL CORP 31,460 69,200
    FED EX CORP 14,874 31,497
    INTERNATIONAL BUSINESS MACHINE 66,132 531,171
    MCDONALDS CORP 4,959 446,760
    MONSANTO CO 5,514 263,711
    MORGAN STANLEY 8,344 3,708
    PFIZER INC 192,072 375,856
    SOUTHWEST AIRLS CO 8,218 6,735
    VERIZON COMMUNICATIONS INC 13,110 11,433
    ZIMMER HOLDINGS INC 2,762 24,300
    AMER CENT CAPITAL VALUE FD    
    LAUDUS INTL MRKTMASTERS INV FD 390,000 327,085
    T ROWE PRICE GROWTH STK CL ADV    
    T ROWE PRICE INTL GR &INC ADV    
    ISHARES S&P SMALL CAP 600 542,928 639,668
    FUJIFILM HLDGS CORP    
    ABB LTD ADR REPSTG ONE 15,114 11,905
    AGRIUM INC 9,093 10,219
    ANGLO AMERICAN PLC ADR 11,195 7,128
    ASTRAZENECA PLC SPSD ADR 6,586 6,464
    ATLAS COPCO AB ADR CL B 7,565 11,673
    BOC HONG KONG HLDGS 6,463 8,164
    BRITISH AMERN TOB PLC 25,157 36,765
    DBS GROUP HLDGS LTD 15,223 16,281
    FOMENTO ECONOMICO MEXICANO ADR 5,612 9,715
    GLAXO SMITHKLINE PLC ADR    
    HONDA MTR LTD 9,798 11,207
    KEPPEL CORP LTD SPONS ADR 21,630 26,197
    KONINKLIJKE (ROYAL) KPN NV 15,491 9,897
    NESTLE S A SPONSORED ADR 22,238 29,358
    NOVARTIS AG ADR 8,095 8,722
    PETROLEO BRASILEIRO SPON A D R 22,286 12,308
    SANOFI AVENTIS ADR 19,634 20,329
    TOKIO MARINE HOLDINGS ADR    
    TOTAL SA ADR REPSTG 21,510 15,644
    TURKCELL ILETISIM HIZMET    
    ZURICH FINANCIAL SERVICES ADR 4,845 6,198
    CENTRAL EUROPEAN DISTRIBUTION    
    BARCLAYS PLC ADR 15,506 12,876
    CANON INC ADR REPSTG 11,157 13,103
    LUKOIL SPON A D R 13,497 15,619
    MITSUI & CO LTD SPSD ADR 9,922 15,136
    NISSAN MTR LTD 12,416 14,432
    ORIX CORP SPONS ADR 5,854 8,465
    SOCIETE GENERALE FRANCE    
    SWISS REINSURANCE SPSD ADR    
    THOMPSON CREEK METALS    
    VALE SA SP ADR 7,405 6,489
    PIMCO TOTAL RETURN FUND 110,000 115,038
    FRONTIER COMM CORP 798 329
    CREDIT SUISSE COMMOD RET    
    IPATH DOW JONES UBS    
    ISHARES MSCI EMERGING MKTS ETF 169,387 162,070
    NUVEEN REAL ESTATE SECS FD 355,000 406,775
    ANHEUSER BUSCH INBEV NV ADR 6,764 7,263
    B A S F AG ADR 12,440 16,786
    B H P BILLITON PLC ADR 20,596 18,147
    B N P PARIBAS ADR    
    B T GROUP PLC ADR 19,394 23,283
    BANCO BRADESCO A D R    
    BAYERISCHE MOTOREN WERKE ADR 12,003 17,005
    CENTRICA PLC ADR    
    CNOOC LTD ADR    
    FOCUS MEDIA HLDG ADR    
    HSBC HLDGS PLC SPONS ADR 6,557 5,553
    INFINEON TECH AG ADR    
    INTERCONTINENTAL HTLS GRP 6,165 7,804
    LVMH MOET HENNESSY LOU VUITT 5,133 5,286
    PRECISION DRILLING TRUST    
    ROYAL DUTCH SHELL PLC ADR 13,149 14,179
    SIEMENS AG ADR 9,226 9,074
    SONY CORP ADR    
    UBS AG REG    
    VIVO PARTICIPACOES SA ADR    
    VODAFONE GROUP PLC ADR 12,872 13,166
    VOLVO AB SPONS ADR 6,083 7,028
    NUVEEN MID CAP GRWTH OPP FD 72,000 76,384
    TFS MARKET NEUTRAL FD 400,000 388,998
    VANGUARD INTL GRWTH PORT 40,000 41,584
    ALLIANZ SE A D R REPSTG 13,773 11,475
    B A E SYSTEMS P L C A D R 6,016 6,923
    BAIDU COM INC A D R 6,514 6,835
    BROOKFIELD ASSET MANAGE 7,223 6,877
    CARNIVAL PLC A D R 7,198 4,930
    CHINA MOBILE LIMITED A D R 5,951 6,096
    ENEL SOCIETA A D R 7,298 4,211
    HITACHI LTD 13,362 13,635
    NATIONAL GRID PLC SP A D R 5,881 6,092
    NIPPON TELEGRAPH TELE A D R 5,973 5,584
    NOVO NORDISK AS A D R 6,458 6,596
    REPSOL S A SPONS A D R 7,009 5,450
    ROCHE HLDG LTD A D R 12,712 12,856
    SBERBANK SPONSORED A D R 14,262 14,056
    SHIRE PLC A D R 7,136 7,744
    TRANSOCEAN LTD 6,152 8,054
    UNILEVER PLC SPSD ADR 5,853 6,137
    VALEOSA SPON ADR 6,626 6,865

    TY 2011 OtherDecreasesSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Description Amount
    RECEIVED VS REPORTED SECURITIES 3,766
    ROUNDING ADJUSTMENT 7


    TY 2011 OtherExpensesSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE CHARITABLE FILING FEE 522 0   522
    ADR FEES 402 0   402


    TY 2011 OtherIncreasesSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Description Amount
    RECEIVED VS REPORTED CASH PY 11,164
    RECEIVED VS REPORTED SECURITIES PY 3,446
    RETURNED SCHOLARSHIPS PY 21,563


    TY 2011 TaxesSchedule
    Name:
    WAYNE C STEWART FOUNDATION 050009586000
    EIN: 91-6574050
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FED ESTIMATES 942 0   0
    FOREIGN TAX PAID 1,158 0   0
    FOREIGN TAX PAID ON NON QUAL 40 0   0
    FOREIGN TAXES 2,069 0   0