TY 2011 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

OMB No. 1545-0052

2011

For calendar year 2011, or tax year beginning 01-01-2011 , and ending 12-31-2011

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

Amended returnAddress changeName change

Name of foundation
RESIDUAL TUW CATHERINE IOLA MICHAEL

Number and street (or P.O. box number if mail is not delivered to street address)901 SOUTH BOND STREET Room/suite

City or town, state, and ZIP code
BALTIMORE, MD21231

A Employer identification number

20-6988404

B Telephone number (see page 10 of the instructions)

(410) 537-5465

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

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

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

$16,460,931J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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

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

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	394,662		386,556
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		644,893
b	Gross sales price for all assets on line 6a 8,082,290
7	Capital gain net income (from Part IV, line 2)...			644,893
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).......			20,975
12	Total. Add lines 1 through 11........	1,039,555		1,052,424
13	Compensation of officers, directors, trustees, etc.
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).......
c	Other professional fees (attach schedule)....		130,451	130,451		0
17	Interest...............					0
18	Taxes (attach schedule) (see page 14 of the instructions)		16,160	6,090		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..........	146,611		136,541	0	0
25	Contributions, gifts, grants paid........	642,711				642,711
26	Total expenses and disbursements. Add lines 24 and 25	789,322		136,541	0	642,711
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	250,233
b	Net investment income (if negative, enter -0-)			915,883
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	857,234	673,218	673,218
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see page 15 of the
		instructions)....................
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	2,560,890	2,280,404	2,401,166
	b	Investments—corporate stock (attach schedule)........	11,554,965	12,441,474	11,156,000
	c	Investments—corporate bonds (attach schedule)........	1,213,811	1,240,079	1,299,645
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............	936,698	930,902	930,902
	13	Investments—other (attach schedule)...........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	17,123,598	17,566,077	16,460,931
	17	Accounts payable and accrued expenses..........
	18	Grants payable...................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	17,123,598	17,566,077
	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)....................	17,123,598	17,566,077
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	17,123,598	17,566,077

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	17,123,598
2	Enter amount from Part I, line 27a.....................	2	250,233
3	Other increases not included in line 2 (itemize)	3	192,416
4	Add lines 1, 2, and 3..........................	4	17,566,247
5	Decreases not included in line 2 (itemize)	5	170
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	17,566,077

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	250000. F H L B DEB 4.750% 12/16/16		2009-12-15	2011-01-03
b	465. DOVER CORP.		2009-07-29	2011-01-05
c	165. CANADIAN NATURAL RESOURCES LTD		2009-05-07	2011-01-06
d	3956.835 BROWN ADVISORY INTERMED INCOME FUND		2010-12-02	2011-01-06
e	54. SNAP-ON INC		2009-04-21	2011-01-06
	110. CANADIAN NATURAL RESOURCES LTD		2009-04-23	2011-01-07
	76. SNAP-ON INC		2009-04-21	2011-01-07
	33. STERICYCLE INC		2010-05-11	2011-01-07
	81. STERICYCLE INC		2010-05-11	2011-01-07
	8. STERICYCLE INC		2010-05-11	2011-01-10
	153. JOHNSON & JOHNSON		2010-11-04	2011-01-13
	160. TIDEWATER INC		2009-10-08	2011-01-13
	535. CANADIAN NATURAL RESOURCES LTD		2009-04-23	2011-01-14
	135. TIDEWATER INC		2009-11-19	2011-01-14
	335. TIDEWATER INC		2009-11-19	2011-01-14
	1603.14 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-01-15
	3123.66 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-01-15
	28.03 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-01-15
	7871.66 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-01-15
	3041.06 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-01-15
	184. TRIMBLE NAV LTD		2008-01-17	2011-01-18
	5920.34 F H L B MLTCL MTG 5.065% 10/20/15		2010-12-01	2011-01-20
	140000. U S TREASURY BILL 2/10/11		2011-01-04	2011-01-21
	5730.93 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-01-25
	6166.45 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-01-25
	76.13 F N M A #805440 7.000% 11/01/34		2006-12-28	2011-01-25
	5811.41 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-01-25
	2152. F N M A #848817 5.000% 1/01/36		2005-12-21	2011-01-25
	5150.22 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-01-25
	7803.59 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-01-25
	108. DIAMOND OFFSHORE DRILLING		2010-09-28	2011-01-27
	115. E I DU PONT DE NEMOURS & CO.		2009-11-09	2011-01-27
	57. SNAP-ON INC		2009-04-06	2011-01-27
	5. DIAMOND OFFSHORE DRILLING		2008-12-26	2011-01-28
	62. DIAMOND OFFSHORE DRILLING		2010-09-28	2011-01-28
	59. SNAP-ON INC		2009-04-06	2011-01-28
	197. DAVITA INC		2008-03-24	2011-01-31
	54. SNAP-ON INC		2009-04-06	2011-01-31
	3603.604 BROWN ADVISORY INTERMED INCOME FUND		2010-12-02	2011-02-03
	151350.98 F H L B MLTCL MTG 5.065% 10/20/15		2010-12-01	2011-02-08
	255. NATIONAL-OILWELL INC		2010-07-29	2011-02-08
	40000. GENERAL ELECTRIC CO 5.000% 2/01/13		2007-10-05	2011-02-09
	125. NATIONAL-OILWELL INC		2010-06-30	2011-02-09
	140000. U S TREASURY BILL 2/10/11		2011-01-04	2011-02-10
	100. DEERE & CO.		2009-03-19	2011-02-11
	1291. EXELON CORP		2010-11-04	2011-02-11
	524. CISCO SYSTEMS		2006-09-15	2011-02-15
	1186.44 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-02-15
	3089.16 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-02-15
	19.71 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-02-15
	2884.32 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-02-15
	3054.99 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-02-15
	110. NORTHROP GRUMMAN CORP		2010-02-05	2011-02-15
	495. CISCO SYSTEMS		2008-09-17	2011-02-17
	209. ASSURANT INC		2009-08-05	2011-02-22
	110. QUALCOMM CORP.		2010-02-16	2011-02-22
	85. SNAP-ON INC		2009-04-06	2011-02-22
	321. ASSURANT INC		2009-05-12	2011-02-23
	85. SNAP-ON INC		2009-04-06	2011-02-23
	85. SNAP-ON INC		2009-04-06	2011-02-24
	4991.36 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-02-25
	3707.34 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-02-25
	751.33 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-02-25
	76.6 F N M A #805440 7.000% 11/01/34		2006-12-28	2011-02-25
	8022.29 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-02-25
	593.29 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-02-25
	4114.13 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-02-25
	210.26 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-02-25
	50000. NORFOLK SOUTHERN COR 5.900% 6/15/19		2009-06-01	2011-02-25
	59. ALLERGAN INC		2006-08-30	2011-02-28
	281. ALLERGAN INC		2006-09-28	2011-02-28
	25000. ICI WILMINGTON 5.625% 12/01/13		2007-08-09	2011-02-28
	25000. ONEOK PARTNERS 6.150% 10/01/16		2008-03-11	2011-02-28
	25000. PPL ENERGY SUPPLY 6.500% 5/01/18		2008-04-08	2011-02-28
	712. PROCTER & GAMBLE CO.		2010-11-04	2011-02-28
	119. ALLERGAN INC		2007-03-22	2011-03-01
	170. ALLERGAN INC		2008-03-18	2011-03-01
	50000. MBNA AMERICA BK MTN 7.125% 11/15/12		2006-03-06	2011-03-01
	280. ALLERGAN INC		2008-03-18	2011-03-02
	396. ALLERGAN INC		2008-03-24	2011-03-02
	143. CANADIAN NATURAL RESOURCES LTD		2009-04-23	2011-03-04
	88. FMC TECHNOLOGIES INC		2011-02-15	2011-03-04
	75. NATIONAL-OILWELL INC		2010-06-30	2011-03-04
	20. FMC TECHNOLOGIES INC		2007-04-20	2011-03-07
	25. FMC TECHNOLOGIES INC		2011-02-15	2011-03-07
	604. CISCO SYSTEMS		2008-09-17	2011-03-08
	1320.283 BROWN ADVISORY INTERMED INCOME FUND		2010-12-02	2011-03-09
	2708.365 BROWN ADVISORY INTERMED INCOME FUND		2010-12-02	2011-03-09
	55. AIR PRODUCTS & CHEMICALS INC.		2010-02-05	2011-03-15
	75. AIR PRODUCTS & CHEMICALS INC.		2010-05-25	2011-03-15
	422. CISCO SYSTEMS		2008-09-17	2011-03-15
	1088.56 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-03-15
	2734.67 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-03-15
	28.45 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-03-15
	2175.09 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-03-15
	3069. F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-03-15
	459. CISCO SYSTEMS		2006-08-30	2011-03-16
	50000. FPL GROUP CAPTL 6.000% 3/01/19		2010-02-04	2011-03-16
	55000. KRAFT FOODS INC 6.000% 2/11/13		2008-06-04	2011-03-17
	60. NATIONAL-OILWELL INC		2010-06-30	2011-03-22
	192. NIELSEN HOLDINGS 6.25% CV PFD		2011-01-26	2011-03-23
	100000. U S TREASURY BILL 3/24/11		2011-02-10	2011-03-24
	3627.87 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-03-25
	5459.54 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-03-25
	798.02 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-03-25
	77.09 F N M A #805440 7.000% 11/01/34		2006-12-28	2011-03-25
	3468.11 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-03-25
	989.11 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-03-25
	3687.56 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-03-25
	17844.8 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-03-25
	317. CISCO SYSTEMS		2006-08-30	2011-03-29
	978. CISCO SYSTEMS		2010-11-12	2011-03-29
	300. DEERE & CO.		2009-03-19	2011-03-30
	225. MCCORMICK & CO. INC. (NON-VOTING)		2010-05-28	2011-03-30
	235. NATIONAL-OILWELL INC		2010-06-30	2011-03-30
	265. PHILIP MORRIS INTL		2010-11-04	2011-03-30
	680.714 BROWN ADVISORY INTERMED INCOME FUND		2010-12-02	2011-03-30
	1109.796 BROWN ADVISORY INTERMED INCOME FUND		2010-12-02	2011-03-30
	20000. STAPLES INC 7.375% 10/01/12		2009-01-07	2011-03-30
	124. HUNTINGTON INGALLS INDUSTRIE		2010-11-04	2011-04-04
	92. HUNTINGTON INGALLS INDUSTRIE		2010-02-05	2011-04-04
	57. COVANCE INC		2009-05-08	2011-04-05
	153. COVANCE INC		2009-05-08	2011-04-05
	40000. GEN ELEC CAP CRP MTN 3.750% 11/14/14		2011-02-09	2011-04-05
	26. INTUITIVE SURGICAL INC		2011-01-07	2011-04-05
	20. INTUITIVE SURGICAL INC		2010-11-30	2011-04-05
	50. MASTERCARD INC		2008-09-26	2011-04-05
	150. DIAMOND OFFSHORE DRILLING		2008-12-26	2011-04-12
	115. EXXON MOBIL CORP		2010-05-19	2011-04-12
	156. V F CORP.		2010-10-20	2011-04-12
	.5 HUNTINGTON INGALLS INDUSTRIE		2010-10-20	2011-04-13
	.5 HUNTINGTON INGALLS INDUSTRIE		2010-01-29	2011-04-13
	239. TOTAL FINA ELF S.A. ADS REPSTG 1/2 OF A 'B' SH		2010-11-04	2011-04-13
	40000. AMERICAN EXPRESS 7.000% 3/19/18		2010-05-19	2011-04-14
	111. FMC TECHNOLOGIES INC		2007-04-20	2011-04-15
	923.94 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-04-15
	87.42 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-04-15
	32.26 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-04-15
	1776.44 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-04-15
	3083.07 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-04-15
	57. SCHLUMBERGER LTD.		2006-09-28	2011-04-15
	3469.18 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-04-25
	4191.1 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-04-25
	835.99 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-04-25
	80.41 F N M A #805440 7.000% 11/01/34		2006-12-28	2011-04-25
	1529.6 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-04-25
	2348.53 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-04-25
	2773.83 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-04-25
	190.73 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-04-25
	140. CANADIAN NATURAL RESOURCES LTD		2009-04-23	2011-04-26
	141. V F CORP.		2010-11-04	2011-04-28
	349. TRIMBLE NAV LTD		2008-12-01	2011-04-29
	77. TRIMBLE NAV LTD		2008-12-01	2011-05-02
	204500. U S TREASURY I P 0.500% 4/15/15		2010-09-08	2011-05-02
	423. DIAMOND OFFSHORE DRILLING		2010-11-04	2011-05-03
	213. EXXON MOBIL CORP		2010-10-27	2011-05-03
	144. TRIMBLE NAV LTD		2008-12-01	2011-05-03
	203276. U S TREASURY I P 1.250% 7/15/20		2010-09-09	2011-05-03
	90. AMERICAN EXPRESS CO.		2008-11-14	2011-05-04
	100. EXXON MOBIL CORP		2010-05-28	2011-05-04
	50000. PPL ENERGY SUPPLY 6.500% 5/01/18		2008-04-08	2011-05-04
	75. SNAP-ON INC		2009-04-06	2011-05-04
	195. TRIMBLE NAV LTD		2008-12-01	2011-05-04
	55. COACH INC		2011-03-15	2011-05-05
	93. COACH INC		2011-03-15	2011-05-05
	32. COACH INC		2009-05-08	2011-05-05
	64. COSTCO WHOLESALE CORPORATION		2009-07-29	2011-05-05
	247. TRIMBLE NAV LTD		2008-12-01	2011-05-05
	73. SNAP-ON INC		2009-04-06	2011-05-06
	252. SNAP-ON INC		2009-04-06	2011-05-09
	55314.11 F N M A #805440 7.000% 11/01/34		2006-12-28	2011-05-10
	78. CITRIX SYSTEMS INC		2008-07-28	2011-05-11
	911.93 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-05-15
	2057.06 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-05-15
	30.2 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-05-15
	1950.34 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-05-15
	3097.2 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-05-15
	203928. U S TREASURY I P S 1.125% 1/15/21		2011-05-03	2011-05-23
	201976. U S TREASURY I P S 0.125% 4/15/16		2011-05-02	2011-05-23
	4915.6 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-05-25
	2203.93 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-05-25
	803.1 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-05-25
	78.64 F N M A #805440 7.000% 11/01/34		2006-07-11	2011-05-25
	3502.88 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-05-25
	68.94 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-05-25
	1839.1 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-05-25
	196.22 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-05-25
	190. MCCORMICK & CO. INC. (NON-VOTING)		2010-04-16	2011-05-26
	5. MCCORMICK & CO. INC. (NON-VOTING)		2010-05-28	2011-05-26
	75. NORTHROP GRUMMAN CORP		2010-02-05	2011-06-02
	85. ACCENTURE PLC CL A		2009-03-27	2011-06-02
	19349.164 BROWN ADVISORY INTERMED INCOME FUND		2011-03-01	2011-06-08
	380. ABB LTD SPON ADR		2010-12-31	2011-06-13
	105. AIR PRODUCTS & CHEMICALS INC.		2010-05-25	2011-06-13
	43. DANAHER CORP		2008-09-17	2011-06-13
	79. DANAHER CORP		2010-11-30	2011-06-13
	34. MASTERCARD INC		2008-09-26	2011-06-13
	205. QUALCOMM CORP.		2010-05-11	2011-06-13
	66. V F CORP.		2010-11-04	2011-06-13
	284. AIR PRODUCTS & CHEMICALS INC.		2009-01-15	2011-06-14
	25000. AMERICA MOVIL SA DE 5.500% 3/01/14		2006-03-06	2011-06-14
	235. EXXON MOBIL CORP		2010-05-28	2011-06-14
	31. ABB LTD SPON ADR		2010-12-31	2011-06-15
	518. ABB LTD SPON ADR		2009-10-23	2011-06-15
	118. AIR PRODUCTS & CHEMICALS INC.		2009-01-15	2011-06-15
	221. AMPHENOL CORP - CL A		2010-05-11	2011-06-15
	137. ANSYS INC		2011-01-18	2011-06-15
	58. ANSYS INC		2010-12-31	2011-06-15
	44. APPLE COMPUTER INC.		2008-11-07	2011-06-15
	16. APPLE COMPUTER INC.		2011-06-13	2011-06-15
	333. BANK OF NEW YORK MELLON CORP		2005-09-07	2011-06-15
	273. CANADIAN NATURAL RESOURCES LTD		2009-04-23	2011-06-15
	150. CITRIX SYSTEMS INC		2008-07-28	2011-06-15
	218. COACH INC		2009-05-08	2011-06-15
	160. COGNIZANT TECH SOLUTIONS CRP COM		2008-12-01	2011-06-15
	159. COSTCO WHOLESALE CORPORATION		2009-07-29	2011-06-15
	247. COVANCE INC		2009-05-08	2011-06-15
	204. DANAHER CORP		2008-09-17	2011-06-15
	147. DAVITA INC		2011-03-02	2011-06-15
	1199.328 AMERICAN EUROPACIFIC GRTH F2		2010-05-28	2011-06-15
	267. EXPRESS SCRIPTS INC-CL A		2011-04-05	2011-06-15
	298. FMC TECHNOLOGIES INC		2007-04-20	2011-06-15
	840.08 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-06-15
	82.39 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-06-15
	30.93 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-06-15
	554.91 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-06-15
	3111.39 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-06-15
	149.99957 FLUOR CORP NEW COM		2011-03-04	2011-06-15
	98.00043 FLUOR CORP NEW COM		2011-03-07	2011-06-15
	35. GOOGLE INC CL A		2011-05-05	2011-06-15
	149. IDEXX LABORATORIES CORP		2008-10-17	2011-06-15
	12. INTUITIVE SURGICAL INC		2009-02-06	2011-06-15
	27. INTUITIVE SURGICAL INC		2010-11-30	2011-06-15
	43. MASTERCARD INC		2008-09-26	2011-06-15
	77. MEAD JOHNSON NUTRITION CO		2011-01-18	2011-06-15
	120. MEAD JOHNSON NUTRITION CO		2010-12-07	2011-06-15
	32.00012 NETAPP INC		2011-02-17	2011-06-15
	61. NETAPP INC		2007-08-03	2011-06-15
	124.99988 NETAPP INC		2011-02-17	2011-06-15
	268. QUALCOMM CORP.		2010-05-11	2011-06-15
	163. ROPER INDUSTRIES INC NEW		2008-10-17	2011-06-15
	57. SALESFORCE COM INC		2009-04-14	2011-06-15
	115. SCHLUMBERGER LTD.		2010-09-03	2011-06-15
	43. SCHLUMBERGER LTD.		2006-09-28	2011-06-15
	544. CHARLES SCHWAB CORP.		2011-04-05	2011-06-15
	169. CHARLES SCHWAB CORP.		2010-05-11	2011-06-15
	1536.098 SCOUT INTERNATIONAL FUND		2010-05-28	2011-06-15
	142. STERICYCLE INC		2010-05-11	2011-06-15
	388. URBAN OUTFITTERS INC		2010-05-25	2011-06-15
	258. ACCENTURE PLC CL A		2008-01-09	2011-06-15
	550. GENPACT LIMITED		2010-05-11	2011-06-15
	128. AIR PRODUCTS & CHEMICALS INC.		2009-02-25	2011-06-16
	170. ACCENTURE PLC CL A		2009-03-27	2011-06-20
	553. AIR PRODUCTS & CHEMICALS INC.		2010-11-04	2011-06-21
	90. ACCENTURE PLC CL A		2009-03-09	2011-06-21
	140. NORTHROP GRUMMAN CORP		2010-02-05	2011-06-22
	240. WALGREEN CO.		2011-03-22	2011-06-22
	10. WALGREEN CO.		2010-12-08	2011-06-22
	100. AMERICAN EXPRESS CO.		2008-11-14	2011-06-23
	35. DAVITA INC		2011-02-28	2011-06-23
	8. DAVITA INC		2008-03-11	2011-06-23
	74. ROPER INDUSTRIES INC NEW		2008-12-01	2011-06-23
	42. STERICYCLE INC		2010-02-23	2011-06-23
	20. DAVITA INC		2008-03-11	2011-06-24
	26. DAVITA INC		2008-03-11	2011-06-24
	4. ROPER INDUSTRIES INC NEW		2008-12-01	2011-06-24
	35. STERICYCLE INC		2010-02-23	2011-06-24
	65. ACCENTURE PLC CL A		2009-03-09	2011-06-24
	3709.07 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-06-25
	2861.25 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-06-25
	852.75 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-06-25
	3645.85 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-06-25
	1116.2 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-06-25
	2502.48 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-06-25
	193.59 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-06-25
	490. ACCENTURE PLC CL A		2009-04-21	2011-06-28
	210. ACCENTURE PLC CL A		2008-01-09	2011-06-28
	150. NORDSTROM INC.		2010-11-04	2011-07-08
	75. NORTHROP GRUMMAN CORP		2010-01-29	2011-07-08
	75. V F CORP.		2010-11-04	2011-07-08
	18. APPLE COMPUTER INC.		2008-11-07	2011-07-14
	1067.83 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-07-15
	81.81 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-07-15
	33.95 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-07-15
	3415.29 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-07-15
	3125.65 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-07-15
	235. WALGREEN CO.		2010-12-08	2011-07-21
	3353.84 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-07-25
	1884.59 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-07-25
	1025.85 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-07-25
	2789.6 F N M A #AI1170 5.000% 4/01/41		2011-06-07	2011-07-25
	2124.12 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-07-25
	1225.63 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-07-25
	2409.16 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-07-25
	217.09 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-07-25
	265. NORTHROP GRUMMAN CORP		2010-01-29	2011-07-26
	765. OWENS ILLINOIS INC NEW		2011-06-15	2011-07-29
	221. MEDTRONIC INC.		2010-10-27	2011-08-02
	325. MEDTRONIC INC.		2009-07-29	2011-08-02
	220. MEDTRONIC INC.		2010-12-17	2011-08-02
	457. ABB LTD SPON ADR		2009-10-23	2011-08-03
	107. ABB LTD SPON ADR		2009-10-23	2011-08-03
	20. APPLE COMPUTER INC.		2008-11-07	2011-08-03
	14. APPLE COMPUTER INC.		2008-11-07	2011-08-03
	277. BANK OF NEW YORK MELLON CORP		2010-05-11	2011-08-03
	8. GOOGLE INC CL A		2011-04-15	2011-08-03
	5. GOOGLE INC CL A		2011-04-15	2011-08-03
	2. GOOGLE INC CL A		2009-05-05	2011-08-03
	491. KRAFT FOODS INC		2010-11-04	2011-08-04
	260. MEDTRONIC INC.		2009-07-29	2011-08-04
	100000. U S TREASURY NT 3.125% 5/15/21		2011-05-23	2011-08-04
	745. BANK OF NEW YORK MELLON CORP		2010-06-03	2011-08-05
	139. BANK OF NEW YORK MELLON CORP		2010-10-18	2011-08-05
	1476. BROADRIDGE FINANCIAL SOLUTIONS INC		2010-11-04	2011-08-05
	7716.049 AMERICAN EUROPACIFIC GRTH F2		2010-05-28	2011-08-05
	132. MEDTRONIC INC.		2009-06-05	2011-08-05
	339. NORTHROP GRUMMAN CORP		2010-11-04	2011-08-05
	24834.437 BROWN CARDINAL		2007-04-19	2011-08-05
	9973.405 SCOUT INTERNATIONAL FUND		2010-05-28	2011-08-05
	66. BANK OF NEW YORK MELLON CORP		2010-10-18	2011-08-08
	818. BANK OF NEW YORK MELLON CORP		2010-10-18	2011-08-08
	475. MEDTRONIC INC.		2009-06-10	2011-08-08
	268. MEDTRONIC INC.		2009-06-10	2011-08-09
	205. MEDTRONIC INC.		2010-08-24	2011-08-09
	670. REDWOOD TR INC		2010-10-20	2011-08-09
	537. REDWOOD TR INC		2010-11-04	2011-08-10
	84000. U S TREAS BD STRIP 11/15/39		2011-03-22	2011-08-10
	408. NORTHROP GRUMMAN CORP		2010-10-27	2011-08-11
	916. REDWOOD TR INC		2010-11-04	2011-08-12
	794.51 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-08-15
	2479.34 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-08-15
	31.18 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-08-15
	1560.56 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-08-15
	3139.98 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-08-15
	899. REDWOOD TR INC		2010-10-27	2011-08-15
	430. BANK OF NEW YORK MELLON CORP		2009-10-23	2011-08-18
	780. CISCO SYSTEMS		2008-10-01	2011-08-18
	315. DELL INC		2011-03-30	2011-08-18
	80. DELL INC		2009-09-25	2011-08-18
	166. LENNOX INTL INC		2011-06-14	2011-08-18
	24. MASTERCARD INC		2008-09-26	2011-08-18
	205. CA INC		2011-01-26	2011-08-19
	235. CA INC		2010-06-30	2011-08-19
	859. LENNOX INTL INC		2011-07-29	2011-08-19
	91. MEAD JOHNSON NUTRITION CO		2010-12-07	2011-08-19
	4679.376 BROWN ADVISORY INTERMED INCOME FUND		2011-03-01	2011-08-22
	405. BANK OF NEW YORK MELLON CORP		2010-09-28	2011-08-23
	1325. BANK OF NEW YORK MELLON CORP		2009-10-28	2011-08-23
	534. URBAN OUTFITTERS INC		2010-05-25	2011-08-23
	211939.88 F N M A #AI1170 5.000% 4/01/41		2011-06-07	2011-08-24
	102. URBAN OUTFITTERS INC		2010-09-29	2011-08-24
	358. URBAN OUTFITTERS INC		2010-05-25	2011-08-24
	53. URBAN OUTFITTERS INC		2010-09-29	2011-08-24
	73. URBAN OUTFITTERS INC		2010-09-29	2011-08-24
	600. URBAN OUTFITTERS INC		2010-08-05	2011-08-24
	2965.51 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-08-25
	3406.07 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-08-25
	968.17 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-08-25
	3058.37 F N M A #AI1170 5.000% 4/01/41		2011-06-07	2011-08-25
	2477.4 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-08-25
	1669.81 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-08-25
	2903.24 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-08-25
	194.33 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-08-25
	64. URBAN OUTFITTERS INC		2010-08-05	2011-08-25
	258. URBAN OUTFITTERS INC		2011-03-08	2011-08-25
	339. URBAN OUTFITTERS INC		2011-03-29	2011-08-25
	2041.214 IVY GLBL NATURAL RESOURCE I		2010-04-20	2011-08-29
	6541.07 IVY GLBL NATURAL RESOURCE I		2011-06-17	2011-08-29
	72. V F CORP.		2011-02-24	2011-08-29
	115. ACE LTD		2009-11-19	2011-08-29
	1. IDEXX LABORATORIES CORP		2008-10-17	2011-08-31
	47. IDEXX LABORATORIES CORP		2008-10-17	2011-08-31
	11043.478 BROWN ADVISORY INTERMED INCOME FUND		2011-03-01	2011-08-31
	43. IDEXX LABORATORIES CORP		2008-11-07	2011-09-01
	39. V F CORP.		2011-01-27	2011-09-08
	40000. HSBC HOLDINGS PLC 5.100% 4/05/21		2011-04-13	2011-09-12
	40000. MORGAN STANLEY 6.625% 4/01/18		2011-01-05	2011-09-12
	961.77 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-09-15
	3150.46 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-09-15
	30.99 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-09-15
	1499.52 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-09-15
	3154.37 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-09-15
	75. V F CORP.		2011-01-27	2011-09-15
	88. FMC TECHNOLOGIES INC		2011-06-23	2011-09-16
	36. FMC TECHNOLOGIES INC		2011-06-23	2011-09-16
	63. FMC TECHNOLOGIES INC		2011-06-23	2011-09-16
	24. APPLE COMPUTER INC.		2008-11-07	2011-09-21
	182. ABB LTD SPON ADR		2009-10-23	2011-09-22
	23. ABB LTD SPON ADR		2009-10-23	2011-09-22
	212. ABB LTD SPON ADR		2009-10-23	2011-09-22
	17. INTUITIVE SURGICAL INC		2009-02-06	2011-09-22
	37. STERICYCLE INC		2011-08-03	2011-09-22
	295. GENPACT LIMITED		2010-05-11	2011-09-22
	11. STERICYCLE INC		2011-08-03	2011-09-23
	128. GENPACT LIMITED		2010-05-11	2011-09-23
	4470.88 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-09-25
	2617.34 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-09-25
	1261.56 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-09-25
	775.26 F N M A #AH6783 4.000% 3/01/41		2011-08-24	2011-09-25
	3789.22 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-09-25
	786.87 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-09-25
	2756.74 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-09-25
	196.14 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-09-25
	209. V F CORP.		2011-01-28	2011-09-30
	517. DIAMOND OFFSHORE DRILLING		2010-10-27	2011-10-03
	11. APPLE COMPUTER INC.		2008-11-07	2011-10-04
	9. APPLE COMPUTER INC.		2008-11-07	2011-10-06
	9. APPLE COMPUTER INC.		2008-11-07	2011-10-06
	17. APPLE COMPUTER INC.		2008-11-07	2011-10-10
	23420.497 BROWN CARDINAL		2008-12-11	2011-10-11
	520. CISCO SYSTEMS		2010-08-13	2011-10-12
	104. V F CORP.		2010-11-04	2011-10-12
	95. WALGREEN CO.		2011-08-29	2011-10-12
	30. WALGREEN CO.		2010-11-30	2011-10-12
	980.53 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-10-15
	85.08 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-10-15
	30.04 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-10-15
	3125.99 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-10-15
	3168.83 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-10-15
	510. CISCO SYSTEMS		2010-08-13	2011-10-19
	80. DIAMOND OFFSHORE DRILLING		2009-01-15	2011-10-19
	170. MCCORMICK & CO. INC. (NON-VOTING)		2010-04-16	2011-10-19
	85. WALGREEN CO.		2010-11-30	2011-10-19
	50. WALGREEN CO.		2010-10-07	2011-10-19
	200. CISCO SYSTEMS		2008-07-15	2011-10-20
	509. NORDSTROM INC.		2010-11-04	2011-10-20
	315. PEPSICO INC.		2011-06-22	2011-10-20
	395. WALGREEN CO.		2010-10-07	2011-10-20
	95. CISCO SYSTEMS		2008-07-15	2011-10-21
	160. CISCO SYSTEMS		2010-11-11	2011-10-21
	30. INTUITIVE SURGICAL INC		2009-02-06	2011-10-21
	122. ACCENTURE PLC CL A		2008-01-09	2011-10-21
	2712.58 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-10-25
	2866.08 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-10-25
	2379.82 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-10-25
	1371.78 F N M A #AH6783 4.000% 3/01/41		2011-08-24	2011-10-25
	4173.59 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-10-25
	568.07 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-10-25
	3071.6 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-10-25
	3414.55 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-10-25
	355. DELL INC		2009-10-30	2011-10-27
	10. DELL INC		2011-03-30	2011-10-27
	520. WALGREEN CO.		2010-10-04	2011-10-27
	607. ABB LTD SPON ADR		2010-05-11	2011-10-28
	51. CITRIX SYSTEMS INC		2011-08-03	2011-10-28
	80. CITRIX SYSTEMS INC		2008-07-28	2011-10-28
	63. CITRIX SYSTEMS INC		2011-08-03	2011-10-28
	16. COGNIZANT TECH SOLUTIONS CRP COM		2008-12-01	2011-10-28
	80. COGNIZANT TECH SOLUTIONS CRP COM		2011-06-28	2011-10-28
	16. INTUITIVE SURGICAL INC		2009-02-06	2011-10-28
	915. MEDTRONIC INC.		2010-10-27	2011-10-31
	489. MEDTRONIC INC.		2010-11-04	2011-10-31
	465. CISCO SYSTEMS		2010-12-30	2011-11-02
	175. CISCO SYSTEMS		2009-03-30	2011-11-02
	380. CISCO SYSTEMS		2011-06-23	2011-11-02
	385. AMERICAN EAGLE OUTFITTERS INC NEW COM		2010-12-22	2011-11-03
	120. AMERICAN EAGLE OUTFITTERS INC NEW COM		2011-05-26	2011-11-09
	220. AMERICAN EAGLE OUTFITTERS INC NEW COM		2010-12-22	2011-11-09
	40000. OHIO ST MAJOR NEW ST 4.844% 12/15/19		2010-12-09	2011-11-09
	40000. PENNSYLVANIA ST 4.050% 7/15/19		2011-02-09	2011-11-09
	230. CHUBB CORP.		2009-01-07	2011-11-10
	45976.89 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-11-10
	120972.82 F N M A #831413 5.500% 4/01/36		2007-12-07	2011-11-10
	125. ACE LTD		2009-08-05	2011-11-10
	78. SHERWIN WILLIAMS CO		2011-08-04	2011-11-11
	3. SHERWIN WILLIAMS CO		2010-10-20	2011-11-11
	30. SHERWIN WILLIAMS CO		2010-10-20	2011-11-14
	781.35 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-11-15
	76.01 F H L M C GD A40782 5.000% 12/01/35		2006-07-11	2011-11-15
	2776.54 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-11-15
	3044.9 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-11-15
	3183.35 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-11-15
	54. SHERWIN WILLIAMS CO		2010-10-20	2011-11-15
	22. ANSYS INC		2010-12-31	2011-11-21
	153. ANSYS INC		2011-03-16	2011-11-21
	110. KOHLS CORP		2011-03-30	2011-11-21
	2030.78 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-11-25
	3157.95 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-11-25
	3642.64 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-11-25
	2029.05 F N M A #AH6783 4.000% 3/01/41		2011-08-24	2011-11-25
	2705.07 F N M A #831413 5.500% 4/01/36		2006-04-06	2011-11-25
	62.41 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-11-25
	3599.96 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-11-25
	1050.58 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-11-25
	150. KOHLS CORP		2011-03-30	2011-11-29
	165. LOWES COS INC		2010-10-21	2011-11-29
	200. LOWES COS INC		2011-07-21	2011-11-29
	30. AMERICAN EAGLE OUTFITTERS INC NEW COM		2010-07-16	2011-11-30
	290. AMERICAN EAGLE OUTFITTERS INC NEW COM		2011-05-26	2011-11-30
	2. COVANCE INC		2009-05-05	2011-11-30
	45. COVANCE INC		2009-05-05	2011-11-30
	58. COVANCE INC		2009-05-05	2011-12-01
	35. COVANCE INC		2009-05-05	2011-12-02
	170. 3M COMPANY		2010-10-27	2011-12-09
	164. FMC TECHNOLOGIES INC		2007-03-22	2011-12-12
	69. FMC TECHNOLOGIES INC		2011-06-23	2011-12-12
	900.64 F H L M C GD G11649 4.500% 2/01/20		2006-07-11	2011-12-15
	27.69 F H L M C #1J0203 2.780% 4/01/35		2006-12-28	2011-12-15
	1935.67 F H L M C GD J09470 4.500% 4/01/24		2010-08-13	2011-12-15
	3197.94 F H L M C MLTCL MTG 5.500% 3/15/16		2006-12-28	2011-12-15
	410. DIAMOND OFFSHORE DRILLING		2010-06-08	2011-12-16
	395. CA INC		2010-06-30	2011-12-21
	325. KOHLS CORP		2011-08-19	2011-12-22
	129. MEAD JOHNSON NUTRITION CO		2010-12-31	2011-12-22
	221. MEAD JOHNSON NUTRITION CO		2010-12-07	2011-12-22
	1977.29 F N M A #256752 6.000% 6/01/27		2008-02-07	2011-12-25
	2883.24 F N M A #257048 6.000% 1/01/28		2007-12-18	2011-12-25
	2543.04 F N M A #AH3431 3.500% 1/01/26		2011-01-20	2011-12-25
	2286.32 F N M A #AH6783 4.000% 3/01/41		2011-08-24	2011-12-25
	673.37 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2011-12-25
	2238.21 F N M A #848817 5.000% 1/01/36		2005-12-21	2011-12-25
	4156.96 F N M A #888218 5.000% 3/01/37		2008-03-06	2011-12-25
	4561.77 F N M A #909932 6.000% 3/01/37		2007-02-05	2011-12-25
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	279,918	268,356	11,562
b	27,110	12,462	14,648
c	7,108	4,200	2,908
d	44,000	44,712	-712
e	3,008	1,524	1,484
	4,531	2,637	1,894
	4,183	2,139	2,044
	2,567	1,914	653
	6,297	4,698	1,599
	615	464	151
	9,580	9,928	-348
	8,844	7,368	1,476
	22,307	12,789	9,518
	7,463	6,085	1,378
	18,584	14,493	4,091
	1,603	1,534	69
	3,124	2,958	166
	28	28
	7,872	8,298	-426
	3,041	3,033	8
	8,126	4,572	3,554
	5,920	6,371	-451
	139,984	139,984
	5,731	5,872	-141
	6,166	6,254	-88
	76	78	-2
	5,811	5,752	59
	2,152	2,088	64
	5,150	4,973	177
	7,804	7,844	-40
	7,779	6,963	816
	5,777	4,016	1,761
	3,282	1,586	1,696
	358	285	73
	4,442	3,710	732
	3,358	1,642	1,716
	14,560	8,676	5,884
	3,067	1,503	1,564
	40,000	40,721	-721
	163,648	162,488	1,160
	19,574	9,062	10,512
	42,748	39,900	2,848
	9,564	4,168	5,396
	139,984	139,984
	9,519	3,218	6,301
	54,906	54,309	597
	9,760	11,929	-2,169
	1,186	1,137	49
	3,089	2,929	160
	20	19	1
	2,884	3,037	-153
	3,055	3,047	8
	7,575	6,386	1,189
	9,241	11,225	-1,984
	8,541	5,341	3,200
	6,379	4,285	2,094
	4,990	2,365	2,625
	13,004	7,627	5,377
	4,896	2,365	2,531
	4,764	2,340	2,424
	4,991	5,111	-120
	3,707	3,758	-51
	751	757	-6
	77	78	-1
	8,022	7,941	81
	593	576	17
	4,114	3,976	138
	210	211	-1
	56,817	50,491	6,326
	4,364	3,387	977
	20,738	16,090	4,648
	27,070	24,948	2,122
	28,090	25,183	2,907
	27,669	24,886	2,783
	44,880	45,349	-469
	8,755	6,733	2,022
	12,509	9,601	2,908
	54,235	51,240	2,995
	19,935	15,805	4,130
	28,284	22,028	6,256
	7,230	3,464	3,766
	8,406	7,743	663
	6,083	2,501	3,582
	1,912	669	1,243
	2,390	2,198	192
	10,975	13,481	-2,506
	14,748	14,982	-234
	30,252	30,767	-515
	4,711	3,746	965
	6,424	4,925	1,499
	7,321	9,342	-2,021
	1,089	1,044	45
	2,735	2,596	139
	28	28
	2,175	2,287	-112
	3,069	3,061	8
	7,931	9,958	-2,027
	55,835	51,824	4,011
	59,831	55,608	4,223
	4,727	2,000	2,727
	10,775	9,600	1,175
	99,992	99,992
	3,628	3,712	-84
	5,460	5,532	-72
	798	803	-5
	77	79	-2
	3,468	3,433	35
	989	961	28
	3,688	3,566	122
	17,845	17,932	-87
	5,483	6,877	-1,394
	16,917	20,309	-3,392
	28,280	9,653	18,627
	10,706	8,735	1,971
	19,033	7,835	11,198
	17,409	15,961	1,448
	7,604	7,692	-88
	12,396	12,592	-196
	21,497	19,858	1,639
	4,976	4,471	505
	3,713	3,033	680
	3,363	2,272	1,091
	9,032	6,098	2,934
	41,692	41,575	117
	9,243	6,928	2,315
	7,110	5,111	1,999
	13,147	9,105	4,042
	11,417	8,553	2,864
	9,572	7,316	2,256
	15,473	13,445	2,028
	19	18	1
	19	16	3
	14,592	13,843	749
	46,878	45,082	1,796
	5,052	1,857	3,195
	924	887	37
	87	83	4
	32	32
	1,776	1,866	-90
	3,083	3,075	8
	4,961	3,510	1,451
	3,469	3,548	-79
	4,191	4,246	-55
	836	842	-6
	80	82	-2
	1,530	1,514	16
	2,349	2,283	66
	2,774	2,684	90
	191	192	-1
	6,453	3,392	3,061
	15,066	12,051	3,015
	16,299	6,142	10,157
	3,584	1,335	2,249
	215,939	207,279	8,660
	30,861	29,206	1,655
	18,405	14,048	4,357
	6,394	2,497	3,897
	214,679	207,685	6,994
	4,463	1,854	2,609
	8,504	6,233	2,271
	56,825	49,771	7,054
	4,541	2,061	2,480
	7,983	3,382	4,601
	3,262	2,848	414
	5,509	4,814	695
	1,896	815	1,081
	5,159	3,144	2,015
	10,695	4,283	6,412
	4,396	2,006	2,390
	15,179	6,912	8,267
	63,335	56,505	6,830
	6,421	2,002	4,419
	912	877	35
	2,057	1,957	100
	30	30
	1,950	2,046	-96
	3,097	3,089	8
	210,046	211,705	-1,659
	206,142	207,959	-1,817
	4,916	5,024	-108
	2,204	2,232	-28
	803	808	-5
	79	80	-1
	3,503	3,469	34
	69	67	2
	1,839	1,781	58
	196	197	-1
	9,359	7,333	2,026
	246	194	52
	4,765	3,884	881
	4,824	2,383	2,441
	220,000	216,053	3,947
	9,540	8,569	971
	9,645	6,178	3,467
	2,208	1,637	571
	4,057	3,404	653
	9,076	6,192	2,884
	11,143	7,751	3,392
	6,713	5,533	1,180
	26,458	16,074	10,384
	27,549	24,712	2,837
	18,952	14,173	4,779
	791	699	92
	13,217	11,049	2,168
	10,839	6,607	4,232
	11,228	10,065	1,163
	7,256	7,554	-298
	3,072	3,069	3
	14,490	4,325	10,165
	5,269	5,231	38
	8,803	10,906	-2,103
	11,019	6,396	4,623
	12,032	3,850	8,182
	12,987	5,554	7,433
	11,132	2,894	8,238
	12,511	7,812	4,699
	14,068	9,788	4,280
	10,589	7,767	2,822
	12,315	11,801	514
	50,000	41,089	8,911
	15,049	15,239	-190
	12,207	4,970	7,237
	840	809	31
	82	78	4
	31	31
	555	582	-27
	3,111	3,103	8
	9,490	10,643	-1,153
	6,200	6,909	-709
	17,750	18,779	-1,029
	11,068	6,201	4,867
	4,139	1,378	2,761
	9,313	6,899	2,414
	11,772	7,831	3,941
	5,011	4,857	154
	7,809	7,525	284
	1,615	1,700	-85
	3,080	1,423	1,657
	6,310	6,642	-332
	14,792	10,133	4,659
	12,903	6,993	5,910
	7,874	2,180	5,694
	9,665	6,598	3,067
	3,614	2,648	966
	8,779	10,148	-1,369
	2,727	3,026	-299
	50,000	40,614	9,386
	12,087	8,120	3,967
	11,207	13,911	-2,704
	14,555	8,750	5,805
	8,583	8,911	-328
	11,545	6,331	5,214
	9,149	4,722	4,427
	51,198	46,460	4,738
	4,947	2,497	2,450
	9,352	7,221	2,131
	10,280	9,357	923
	428	364	64
	4,874	2,060	2,814
	2,953	2,771	182
	675	348	327
	6,032	3,152	2,880
	3,656	2,275	1,381
	1,669	870	799
	2,167	1,132	1,035
	327	167	160
	2,990	1,896	1,094
	3,688	1,803	1,885
	3,709	3,789	-80
	2,861	2,897	-36
	853	858	-5
	3,646	3,611	35
	1,116	1,086	30
	2,502	2,425	77
	194	194
	29,272	13,270	16,002
	12,518	7,122	5,396
	7,451	6,132	1,319
	5,045	3,848	1,197
	8,419	6,287	2,132
	6,445	1,769	4,676
	1,068	1,029	39
	82	78	4
	34	34
	3,415	3,575	-160
	3,126	3,117	9
	9,609	8,377	1,232
	3,354	3,424	-70
	1,885	1,907	-22
	1,026	1,032	-6
	2,790	2,986	-196
	2,124	2,104	20
	1,226	1,194	32
	2,409	2,336	73
	217	218	-1
	17,312	13,596	3,716
	17,868	23,735	-5,867
	7,608	7,938	-330
	11,202	11,541	-339
	7,583	8,195	-612
	10,408	9,748	660
	2,439	2,282	157
	7,730	1,966	5,764
	5,468	1,376	4,092
	6,700	8,839	-2,139
	4,706	4,265	441
	2,971	2,665	306
	1,188	809	379
	17,291	15,732	1,559
	8,711	8,919	-208
	105,547	100,182	5,365
	17,147	21,262	-4,115
	3,199	3,692	-493
	31,844	32,246	-402
	300,000	264,352	35,648
	4,302	4,510	-208
	18,915	19,474	-559
	300,000	363,524	-63,524
	300,000	263,697	36,303
	1,480	1,753	-273
	17,340	21,714	-4,374
	15,313	16,220	-907
	8,353	9,085	-732
	6,390	6,529	-139
	8,105	9,772	-1,667
	6,479	7,806	-1,327
	27,518	21,722	5,796
	21,210	22,552	-1,342
	11,230	13,135	-1,905
	795	767	28
	2,479	2,367	112
	31	31
	1,561	1,631	-70
	3,140	3,131	9
	11,275	12,636	-1,361
	8,418	13,834	-5,416
	11,759	17,563	-5,804
	4,184	4,589	-405
	1,063	1,230	-167
	4,754	7,370	-2,616
	7,440	4,371	3,069
	3,891	4,794	-903
	4,461	4,400	61
	24,248	37,360	-13,112
	6,181	5,706	475
	54,000	52,222	1,778
	7,679	10,383	-2,704
	25,123	36,116	-10,993
	14,119	19,146	-5,027
	227,885	226,428	1,457
	2,611	3,368	-757
	9,165	12,836	-3,671
	1,370	1,750	-380
	1,879	2,411	-532
	15,443	19,517	-4,074
	2,966	3,026	-60
	3,406	3,446	-40
	968	974	-6
	3,058	3,268	-210
	2,477	2,454	23
	1,670	1,627	43
	2,903	2,818	85
	194	195	-1
	1,553	2,082	-529
	6,262	8,301	-2,039
	8,277	10,309	-2,032
	39,947	37,500	2,447
	128,009	140,000	-11,991
	8,264	6,749	1,515
	7,369	5,796	1,573
	81	42	39
	3,764	1,956	1,808
	127,000	123,245	3,755
	3,369	1,626	1,743
	4,625	3,229	1,396
	42,034	40,608	1,426
	42,346	43,564	-1,218
	962	929	33
	3,150	3,012	138
	31	31
	1,500	1,566	-66
	3,154	3,146	8
	9,295	6,210	3,085
	3,803	3,541	262
	1,552	1,449	103
	2,718	2,535	183
	10,048	2,359	7,689
	3,033	3,882	-849
	384	491	-107
	3,536	4,522	-986
	6,173	1,952	4,221
	2,906	3,011	-105
	4,413	4,780	-367
	870	895	-25
	1,887	2,074	-187
	4,471	4,559	-88
	2,617	2,647	-30
	1,262	1,269	-7
	775	805	-30
	3,789	3,754	35
	787	767	20
	2,757	2,678	79
	196	197	-1
	25,827	17,200	8,627
	27,908	35,261	-7,353
	3,939	1,081	2,858
	3,443	885	2,558
	3,369	885	2,484
	6,537	1,671	4,866
	270,038	306,795	-36,757
	8,961	11,224	-2,263
	13,887	8,629	5,258
	3,174	3,314	-140
	1,002	1,046	-44
	981	949	32
	85	81	4
	30	30
	3,126	3,259	-133
	3,169	3,160	9
	8,829	10,905	-2,076
	4,783	4,540	243
	8,270	6,557	1,713
	2,864	2,964	-100
	1,684	1,700	-16
	3,410	4,257	-847
	25,543	19,359	6,184
	19,535	21,252	-1,717
	13,292	13,365	-73
	1,657	2,022	-365
	2,791	3,323	-532
	12,435	3,444	8,991
	7,042	3,906	3,136
	2,713	2,764	-51
	2,866	2,898	-32
	2,380	2,394	-14
	1,372	1,424	-52
	4,174	4,135	39
	568	554	14
	3,072	2,986	86
	3,415	3,429	-14
	5,704	5,146	558
	161	146	15
	17,564	17,270	294
	12,085	11,544	541
	3,760	3,575	185
	5,832	2,053	3,779
	4,593	4,379	214
	1,207	289	918
	6,033	5,833	200
	7,010	1,837	5,173
	31,880	31,724	156
	17,038	17,452	-414
	8,218	9,409	-1,191
	3,093	2,838	255
	6,716	5,770	946
	5,388	5,972	-584
	1,630	1,582	48
	2,989	3,179	-190
	46,108	40,000	6,108
	43,814	39,265	4,549
	15,391	11,000	4,391
	49,138	44,064	5,074
	131,256	119,895	11,361
	8,783	6,221	2,562
	6,752	5,807	945
	260	217	43
	2,581	2,167	414
	781	757	24
	76	73	3
	2,777	2,744	33
	3,045	3,171	-126
	3,183	3,174	9
	4,645	3,901	744
	1,268	1,164	104
	8,817	7,920	897
	5,894	5,813	81
	2,031	2,068	-37
	3,158	3,192	-34
	3,643	3,664	-21
	2,029	2,105	-76
	2,705	2,664	41
	62	61	1
	3,600	3,503	97
	1,051	1,055	-4
	7,904	7,927	-23
	4,001	3,668	333
	4,849	4,631	218
	419	357	62
	4,050	3,822	228
	92	79	13
	2,063	1,775	288
	2,639	2,288	351
	1,589	1,381	208
	13,821	15,229	-1,408
	8,150	2,704	5,446
	3,429	2,777	652
	901	874	27
	28	27	1
	1,936	2,013	-77
	3,198	3,189	9
	22,130	22,821	-691
	7,841	7,396	445
	16,049	16,723	-674
	8,199	8,035	164
	14,047	13,795	252
	1,977	2,013	-36
	2,883	2,913	-30
	2,543	2,557	-14
	2,286	2,370	-84
	673	690	-17
	2,238	2,188	50
	4,157	4,048	109
	4,562	4,579	-17
			5

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			11,562
b			14,648
c			2,908
d			-712
e			1,484
			1,894
			2,044
			653
			1,599
			151
			-348
			1,476
			9,518
			1,378
			4,091
			69
			166

			-426
			8
			3,554
			-451

			-141
			-88
			-2
			59
			64
			177
			-40
			816
			1,761
			1,696
			73
			732
			1,716
			5,884
			1,564
			-721
			1,160
			10,512
			2,848
			5,396

			6,301
			597
			-2,169
			49
			160
			1
			-153
			8
			1,189
			-1,984
			3,200
			2,094
			2,625
			5,377
			2,531
			2,424
			-120
			-51
			-6
			-1
			81
			17
			138
			-1
			6,326
			977
			4,648
			2,122
			2,907
			2,783
			-469
			2,022
			2,908
			2,995
			4,130
			6,256
			3,766
			663
			3,582
			1,243
			192
			-2,506
			-234
			-515
			965
			1,499
			-2,021
			45
			139

			-112
			8
			-2,027
			4,011
			4,223
			2,727
			1,175

			-84
			-72
			-5
			-2
			35
			28
			122
			-87
			-1,394
			-3,392
			18,627
			1,971
			11,198
			1,448
			-88
			-196
			1,639
			505
			680
			1,091
			2,934
			117
			2,315
			1,999
			4,042
			2,864
			2,256
			2,028
			1
			3
			749
			1,796
			3,195
			37
			4

			-90
			8
			1,451
			-79
			-55
			-6
			-2
			16
			66
			90
			-1
			3,061
			3,015
			10,157
			2,249
			8,660
			1,655
			4,357
			3,897
			6,994
			2,609
			2,271
			7,054
			2,480
			4,601
			414
			695
			1,081
			2,015
			6,412
			2,390
			8,267
			6,830
			4,419
			35
			100

			-96
			8
			-1,659
			-1,817
			-108
			-28
			-5
			-1
			34
			2
			58
			-1
			2,026
			52
			881
			2,441
			3,947
			971
			3,467
			571
			653
			2,884
			3,392
			1,180
			10,384
			2,837
			4,779
			92
			2,168
			4,232
			1,163
			-298
			3
			10,165
			38
			-2,103
			4,623
			8,182
			7,433
			8,238
			4,699
			4,280
			2,822
			514
			8,911
			-190
			7,237
			31
			4

			-27
			8
			-1,153
			-709
			-1,029
			4,867
			2,761
			2,414
			3,941
			154
			284
			-85
			1,657
			-332
			4,659
			5,910
			5,694
			3,067
			966
			-1,369
			-299
			9,386
			3,967
			-2,704
			5,805
			-328
			5,214
			4,427
			4,738
			2,450
			2,131
			923
			64
			2,814
			182
			327
			2,880
			1,381
			799
			1,035
			160
			1,094
			1,885
			-80
			-36
			-5
			35
			30
			77

			16,002
			5,396
			1,319
			1,197
			2,132
			4,676
			39
			4

			-160
			9
			1,232
			-70
			-22
			-6
			-196
			20
			32
			73
			-1
			3,716
			-5,867
			-330
			-339
			-612
			660
			157
			5,764
			4,092
			-2,139
			441
			306
			379
			1,559
			-208
			5,365
			-4,115
			-493
			-402
			35,648
			-208
			-559
			-63,524
			36,303
			-273
			-4,374
			-907
			-732
			-139
			-1,667
			-1,327
			5,796
			-1,342
			-1,905
			28
			112

			-70
			9
			-1,361
			-5,416
			-5,804
			-405
			-167
			-2,616
			3,069
			-903
			61
			-13,112
			475
			1,778
			-2,704
			-10,993
			-5,027
			1,457
			-757
			-3,671
			-380
			-532
			-4,074
			-60
			-40
			-6
			-210
			23
			43
			85
			-1
			-529
			-2,039
			-2,032
			2,447
			-11,991
			1,515
			1,573
			39
			1,808
			3,755
			1,743
			1,396
			1,426
			-1,218
			33
			138

			-66
			8
			3,085
			262
			103
			183
			7,689
			-849
			-107
			-986
			4,221
			-105
			-367
			-25
			-187
			-88
			-30
			-7
			-30
			35
			20
			79
			-1
			8,627
			-7,353
			2,858
			2,558
			2,484
			4,866
			-36,757
			-2,263
			5,258
			-140
			-44
			32
			4

			-133
			9
			-2,076
			243
			1,713
			-100
			-16
			-847
			6,184
			-1,717
			-73
			-365
			-532
			8,991
			3,136
			-51
			-32
			-14
			-52
			39
			14
			86
			-14
			558
			15
			294
			541
			185
			3,779
			214
			918
			200
			5,173
			156
			-414
			-1,191
			255
			946
			-584
			48
			-190
			6,108
			4,549
			4,391
			5,074
			11,361
			2,562
			945
			43
			414
			24
			3
			33
			-126
			9
			744
			104
			897
			81
			-37
			-34
			-21
			-76
			41
			1
			97
			-4
			-23
			333
			218
			62
			228
			13
			288
			351
			208
			-1,408
			5,446
			652
			27
			1
			-77
			9
			-691
			445
			-674
			164
			252
			-36
			-30
			-14
			-84
			-17
			50
			109
			-17

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	644,893
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . .		3

Part V

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

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

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

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

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

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2010	693,455	16,113,222	0.043036
2009	794,977	13,992,897	0.056813
2008	870,284	18,084,625	0.048123
2007	907,207	19,543,875	0.046419
2006	1,192,318	22,687,974	0.052553

2	Total of line 1, column (d) ......................	2	0.246944
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	0.049389
4	Enter the net value of noncharitable-use assets for 2011 from Part X, line 5.....	4	17,179,448
5	Multiply line 4 by line 3.......................	5	848,476
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	9,159
7	Add lines 5 and 6.........................	7	857,635
8	Enter qualifying distributions from Part XII, line 4..............	8	642,711
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)

Page 4

Part VI

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

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	18,318
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	18,318
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	18,318
6	Credits/Payments:

a	2011 estimated tax payments and 2010 overpayment credited to 2011	6a	6,548
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c	22,524
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	29,072
8	Enter any penalty for underpayment of estimated tax. Check hereif 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.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	10,754
11	Enter the amount of line 10 to be: Credited to 2012 estimated tax10,754	Refunded	11	0

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

Yes

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

instructions) bullet

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

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

Yes

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

or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011 (see instructions for Part XIV on

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

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

Yes

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

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

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

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

Website address bullet

The books are in care of bullet

BROWN ADVISORY Telephone no. bullet

(410) 537-5465

Located at bullet

901 S BOND STREET SUITE 400BALTIMOREMD ZIP+4 bullet

21231

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

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

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

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)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

that were not corrected before the first day of the tax year beginning in 2011?.............

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

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

At the end of tax year 2011, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2011?...............YesNo

If “Yes,” list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If “Yes” to 6b, file Form 8870.

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

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

Form 990-PF (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
ALBERT J A YOUNG	TRUSTEE 40	0
200 SOUTH MAIN STREET BEL AIR,MD21014	TRUSTEE 40	0
BROWN INVESTMENT ADVISORY	INVESTMENT MGR 40	0
901 S BOND STREET BALTIMORE,MD21231	INVESTMENT MGR 40	0

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









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

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

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

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

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.)

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

purposes:

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

16,793,285

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

647,779

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

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

17,441,064

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

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

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

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

17,441,064

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

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

261,616

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

17,179,448

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

858,972

Part XI

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

and do not complete this part.)

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

858,972

Tax on investment income for 2011 from Part VI, line 5......

18,318

Income tax for 2011. (This does not include the tax from Part VI.)...

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

18,318

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

840,654

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

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

840,654

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

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

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

840,654

Part XII

Qualifying Distributions (see page 25 of the instructions)

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

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

642,711

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

642,711

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

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

642,711

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)

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					840,654
2 Undistributed income, if any, as of the end of 2011:
a Enter amount for 2010 only.......				0
b Total for prior years:2009, 20, 20			0
3 Excess distributions carryover, if any, to 2011:
a From 2006.......	613,211
b From 2007.......	0
c From 2008.......	0
d From 2009.......	101,376
e From 2010.......	0
fTotal of lines 3a through e.........		714,587
4Qualifying distributions for 2011 from Part
XII, line 4: $ 642,711
a Applied to 2010, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see page 26 of the instructions)			0
c Treated as distributions out of corpus (Election required—see page 26 of the instructions)...		0
d Applied to 2011 distributable amount.....					642,711
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2011.		197,943			197,943
(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		516,644
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 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see page 27 of the instructions) ...........		0
8Excess distributions carryover from 2006 not applied on line 5 or line 7 (see page 27 of the instructions) .............		415,268
9Excess distributions carryover to 2012. Subtract lines 7 and 8 from line 6a ......		101,376
10 Analysis of line 9:
a Excess from 2007....	0
b Excess from 2008....	0
c Excess from 2009....	101,376
d Excess from 2010....	0
e Excess from 2011....	0

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

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2011	(b) 2010	(c) 2009	(d) 2008	(e) Total

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

Part XV

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

1Information Regarding Foundation Managers:

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

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

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

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
ST JOAN OF ARC CATHOLIC CHURCH ATTN PASTOR 222 S LAW STREET ABERDEEN,MD210013397		EXEMPT-CHURCH	FINANCIAL SUPPORT	642,711
Total ................................. 3a				642,711

bApproved for future payment

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

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
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	394,662
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	644,893
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)..				1,039,555

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

131,039,555

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2011)

Page 12

Part XVII

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

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

Yes

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

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If “Yes,” complete the following schedule.

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

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

	Signature of officer or trustee	Date	Title

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

Form 990-PF (2011)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
MUNICIPAL BONDS	191,501	199,446
CORP BONDS	792,251	834,837
184046	184,046	188,355
FOREIGN BONDS	72,281	77,007

Name of Stock	End of Year Book Value	End of Year Fair Market Value
COMMON STOCK	7,171,642	5,753,389
MUTUAL FUNDS	4,092,165	4,091,915
COMMONSTOCK 1058
PREFERRED STOCK	81,676	88,820
FOREIGN STOCK	680,199	772,220
PRIVATE EQUITY	415,792	449,656

Description	Amount
2011 ACCRUED INTEREST PAID IN 2010	414
PRIVATE EQUITY ADJUSTMENTS	26,673
ADJ BOOK VALUE ON TIPS	5,842
ADJUST FOR 12-31 DISTRIBUTION	159,487

Category	Amount	Net Investment Income
INVESTMENT FEES-PRIN	121,675	121,675
INESTMENT FEES-INCOME	8,730	8,730
OTHER NONALLOCABLE EXPENSES -	46	46

Category	Amount	Net Investment Income
FOREIGN TAXES	2,380	2,380
FEDERAL EXCISE TAX	6,130	0
QUARTERLY TAX DEPOSIT	3,940	0
FOREIGN TAXES ON QUALIFIED FOR	3,710	3,710