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 09-01-2011 , and ending 08-31-2012
G
Check all that apply:
Name of foundation
L FRANKLIN PURNELL FOUNDATION
C/O WILLIAM SMITH

Number and street (or P.O. box number if mail is not delivered to street address)C/O WILLIAM SMITH   Room/suite
City or town, state, and ZIP code
BERLIN, MD21811
A Employer identification number

23-7187899
B Telephone number (see page 10 of the instructions)

(410) 641-0448
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$549,196J 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 7,188 7,188 7,188
4 Dividends and interest from securities...... 8,536 8,536 8,536
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 28,851
b Gross sales price for all assets on line 6a 271,100
7 Capital gain net income (from Part IV, line 2)... 26,593
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 422   422
12 Total. Add lines 1 through 11........ 44,997 42,317 16,146
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 4,350      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 3,060 3,060 3,060  
c Other professional fees (attach schedule).... Click to see attachment 2,633 2,633 2,633  
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 705 705 705  
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 1,050 1,050 1,050  
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 11,798 7,448 7,448 0
25 Contributions, gifts, grants paid........ 21,250 21,250
26 Total expenses and disbursements. Add lines 24 and 25 33,048 7,448 7,448 21,250
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 11,949
b Net investment income (if negative, enter -0-) 34,869
c Adjusted net income (if negative, enter -0-)... 8,698
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............... 4,299 4,590 4,590
2 Savings and temporary cash investments.......... 21,179 26,916 26,916
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges........... 995 298 298
10a Investments—U.S. and state government obligations (attach schedule) 73,969 Click to see attachment63,907 74,704
b Investments—corporate stock (attach schedule)........ 312,325 Click to see attachment338,976 378,638
c Investments—corporate bonds (attach schedule)........ 69,182 Click to see attachment59,211 64,050
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis 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) 481,949 493,898 549,196
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.................... 481,949 493,898
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 481,949 493,898
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 481,949 493,898
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)............... 1 481,949
2 Enter amount from Part I, line 27a..................... 2 11,949
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 493,898
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 493,898
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 US10Y-10 YEAR US TREASURY NOTE-1000 P 2005-09-06 2012-08-29
b AWK-AMERICAN WATER WORKS COMPANY INC P 2010-08-25 2012-08-22
c BMCIX-BLACKROCK US OPPORTUNITIES POR P 2010-09-17 2012-04-04
d CBE-COOPER INDUSTRIES LTD.-14 P 2010-02-10 2011-09-06
e CMI-CUMMINS INC.-9 P 2009-11-06 2012-08-02
CTL-CENTURYTEL INC.-8 P 2012-08-10 2012-08-22
EMC-EMC CP-62 P 2009-09-01 2012-07-02
FDX-FEDEX CP-3 P 2012-06-05 2012-08-22
HD-HOME DEPOT INC-3 P 2012-01-06 2012-06-21
KFT-KRAFT FOODS INC.-20 P 2011-08-09 2012-08-22
NU-NORTHEAST UTILITIES-67 P 2011-02-02 2012-05-24
PNC-P N C FIN SVCS GR-2639.84 P 2011-08-31 2011-11-30
SJM-J.M. SMUCKER COMPANY (THE)-5 P 2010-09-17 2012-02-17
TGT-TARGET CP-46 P 2011-09-27 2012-01-06
VIA-VIACOM INC.-26 P 2009-07-24 2011-10-13
WYN-WYNDHAM WORLDWIDE CORP-10 P 2010-11-01 2012-07-18
ABC-AMERISOURCEBERGEN CORPORATION (H P 2010-01-12 2012-01-06
BA-BOEING COMPANY-6 P 2012-08-02 2012-08-22
BMCIX-BLACKROCK US OPPORTUNITIES POR P 2010-12-03 2012-04-04
CBE-COOPER INDUSTRIES LTD.-26 P 2009-12-07 2011-09-06
COF-CAPITAL ONE FINANCIAL CP-13 P 2011-03-11 2012-02-02
CVX-CHEVRON CP-14 P 2009-01-15 2012-08-22
EMC-EMC CP-7 P 2010-09-17 2012-07-02
FITB-FIFTH THIRD BANCORP-26 P 2012-08-10 2012-08-22
HD-HOME DEPOT INC-35 P 2012-01-06 2012-07-18
KFT-KRAFT FOODS INC.-8 P 2011-08-09 2012-01-06
NVS-NOVARTIS A G-40 P 2010-09-29 2012-02-10
PNC-P N C FIN SVCS GR-4902.99 P 2011-08-31 2012-02-29
SJM-J.M. SMUCKER COMPANY (THE)-6 P 2011-02-11 2012-02-17
UNH-UNITEDHEALTH GROUP-15 P 2010-06-04 2012-07-11
VIA-VIACOM INC.-4 P 2010-09-17 2011-10-13
WYN-WYNDHAM WORLDWIDE CORP-53 P 2010-11-01 2012-07-02
ABC-AMERISOURCEBERGEN CORPORATION (H P 2010-01-12 2012-05-11
BAC-BANK OF AMERICA CP-11.000009 P 2009-08-28 2012-05-24
BMCIXM-BLACKROCK FDS FUND 339-4.26 P 2010-12-03 2012-04-04
CBE-COOPER INDUSTRIES LTD.-4 P 2010-09-20 2011-09-06
COF-CAPITAL ONE FINANCIAL CP-24 P 2010-04-28 2012-02-02
DD-EI DUPONT DE NEMOURS CO-2 P 2010-09-17 2012-02-23
EMN-EASTMAN CHEMICAL COMPANY-12 P 2011-02-11 2011-10-10
FMC-FMC CORP.-7 P 2012-02-17 2012-08-22
HD-HOME DEPOT INC-7 P 2012-01-06 2012-08-22
LLY-ELI LILLY AND CO-14 P 2012-05-11 2012-08-22
OGE-OGE ENERGY CORPORATION-12 P 2010-05-20 2012-08-22
PNC-P N C FIN SVCS GR-7206.26 P 2011-11-30 2012-02-29
SJM-J.M. SMUCKER COMPANY (THE)-7 P 2009-09-01 2011-09-06
UNH-UNITEDHEALTH GROUP-16 P 2010-06-04 2012-05-11
VOD-VODAFONE GROUP PLC-86 P 2011-08-10 2012-06-21
WYN-WYNDHAM WORLDWIDE CORP-7 P 2010-11-01 2012-08-22
ABC-AMERISOURCEBERGEN CORPORATION (H P 2010-05-06 2012-05-11
BAC-BANK OF AMERICA CP-124 P 2010-05-04 2012-05-24
BMCIXM-BLACKROCK FDS FUND 339-9.493 P 2011-12-13 2012-04-04
CCE-COCA-COLA ENTERPRISES-15 P 2011-12-05 2012-08-22
COF-CAPITAL ONE FINANCIAL CP-3 P 2010-09-17 2012-02-02
DD-EI DUPONT DE NEMOURS CO-3 P 2010-08-04 2012-01-06
EMN-EASTMAN CHEMICAL COMPANY-50 P 2010-11-01 2011-10-10
GE-GENERAL ELECTRIC CO-11 P 2009-05-12 2012-01-06
IBM-INTERNATIONAL BUSINESS MACHINES- P 2003-11-04 2012-08-29
LTD-LIMITED BRANDS INC.-20 P 2010-03-15 2012-07-02
OGE-OGE ENERGY CORPORATION-4 P 2010-05-20 2012-01-06
PNC-P N C FIN SVCS GR-741.42 P 2011-11-30 2012-05-31
SJM-J.M. SMUCKER COMPANY (THE)-9 P 2009-12-15 2012-02-17
UNH-UNITEDHEALTH GROUP-5 P 2010-06-04 2012-01-06
VTR-VENTAS INC-3 P 2010-09-17 2011-09-02
XOM-EXXON MOBIL CP-16 P 2009-01-15 2012-08-22
ABC-AMERISOURCEBERGEN CORPORATION (H P 2010-09-17 2012-05-11
BAC-BANK OF AMERICA CP-64 P 2010-04-28 2012-05-24
BMY-BRISTOL MYERS SQIBB-12 P 2009-07-31 2012-08-10
CCK-CROWN CORK & SEAL COMPANY INC.-5 P 2011-08-18 2012-02-17
COF-CAPITAL ONE FINANCIAL CP-53 P 2009-12-24 2012-02-02
DD-EI DUPONT DE NEMOURS CO-46 P 2010-08-04 2012-02-23
EMN-EASTMAN CHEMICAL COMPANY-6 P 2012-02-23 2012-08-22
GE-GENERAL ELECTRIC CO-54 P 2009-05-12 2012-08-22
ICE-INTERCONTINENTALEXCHANGE-3 P 2011-11-08 2012-08-22
LTD-LIMITED BRANDS INC.-8 P 2010-03-15 2012-08-22
PFE-PFIZER INC-15 P 2009-07-31 2012-08-22
PNC-P N C FIN SVCS GR-7622.82 P 2012-05-31 2012-08-31
SJM-J.M. SMUCKER COMPANY (THE)-9 P 2010-06-28 2012-02-17
UNH-UNITEDHEALTH GROUP-9 P 2010-06-04 2012-08-22
VTR-VENTAS INC-40 P 2010-08-26 2011-09-02
XOM-EXXON MOBIL CP-2 P 2009-01-15 2012-01-06
ACE-ACE LIMITED-2 P 2011-09-01 2012-06-21
BAC-BANK OF AMERICA CP-8.999991 P 2009-07-31 2012-05-24
BMY-BRISTOL MYERS SQIBB-28 P 2011-09-02 2012-08-10
CF-CF INDUSTRIES HOLDINGS-2 P 2011-11-16 2012-08-22
COKE-COCA COLA BOTTLING CO CONS-4 P 2009-07-31 2012-08-22
DFS-DISCOVER FINANCIAL SERVICES-17 P 2011-03-25 2012-08-22
EPD-ENTERPRISE PRODUCTS PARTNERS L.P P 2012-07-02 2012-08-22
GE-GENERAL ELECTRIC CO-6 P 2009-05-12 2012-06-21
INTC-INTEL CP-12 P 2009-07-31 2012-08-22
MRK-MERCK CO INC-20 P 2009-03-19 2012-08-22
PFE-PFIZER INC-17 P 2007-02-28 2012-08-22
POT-POTASH CORPORATION OF SASKATCHEW P 2011-10-10 2011-11-16
SPG-SIMON PROPERTY GROUP INC-2 P 2012-02-02 2012-08-22
UNP-UNION PACIFIC-2 P 2010-05-04 2012-06-21
VZ-VERIZON COMMUNICATIONS-25 P 2011-09-27 2012-08-10
XOM-EXXON MOBIL CP-6 P 2009-01-15 2012-08-22
ACE-ACE LIMITED-7 P 2011-09-01 2012-08-22
BCE-BCE INC-3 P 2010-09-17 2011-09-27
BMY-BRISTOL MYERS SQIBB-3 P 2010-09-17 2012-08-10
CHK-CHESAPEAKE ENERGY CORPORATION-77 P 2011-03-11 2011-12-02
COKE-COCA COLA BOTTLING CO CONS-6 P 2010-06-29 2012-08-22
DFS-DISCOVER FINANCIAL SERVICES-41 P 2011-03-25 2012-07-11
EQR-EQUITY RESIDENTIAL-12 P 2012-07-18 2012-08-31
GLW-CORNING INCORPORATED-101 P 2010-08-10 2011-09-13
INTC-INTEL CP-22 P 2010-02-10 2012-08-22
MSFT-MICROSOFT CP-14 P 2010-07-23 2012-08-22
PFE-PFIZER INC-20 P 2008-08-04 2012-08-22
PRU-PRUDENTIAL FINANCIAL INC-2 P 2010-09-17 2011-11-08
SPG-SIMON PROPERTY GROUP INC-8 P 2012-02-02 2012-08-10
UNP-UNION PACIFIC-4 P 2010-05-04 2012-08-22
VZ-VERIZON COMMUNICATIONS-8 P 2011-09-27 2012-08-22
APA-APACHE CP-1 P 2010-09-17 2011-10-10
BCE-BCE INC-72 P 2010-02-22 2011-09-27
BMY-BRISTOL MYERS SQIBB-6 P 2009-01-15 2012-06-21
CMCSA-COMCAST CP-27 P 2009-09-04 2012-08-22
COO-COOPER COMPANIES-5 P 2012-02-10 2012-08-22
DIS-WALT DISNEY COMPANY (THE)-13 P 2012-06-07 2012-08-22
EQR-EQUITY RESIDENTIAL-12 P 2010-02-22 2012-08-22
GLW-CORNING INCORPORATED-45 P 2011-02-02 2011-09-13
INTC-INTEL CP-37 P 2009-07-14 2012-07-02
MTB-M&T BANK CORPORATION-14 P 2010-04-28 2011-10-21
PFE-PFIZER INC-8 P 2007-02-28 2012-06-21
PRU-PRUDENTIAL FINANCIAL INC-64 P 2010-06-29 2011-11-08
STI-SUNTRUST BANKS-27 P 2012-05-24 2012-08-22
USB-US BANCORP-20 P 2011-10-21 2012-08-22
WEC-WISCONSIN ENERGY CP-22 P 2009-02-24 2012-08-28
APA-APACHE CP-11 P 2009-08-14 2011-10-10
BEN-FRANKLIN RESOURCES INC.-4 P 2011-05-17 2012-08-22
BMY-BRISTOL MYERS SQIBB-71 P 2009-01-15 2012-08-10
CMCSA-COMCAST CP-5 P 2009-09-04 2012-06-21
COP-CONOCOPHILLIPS-16 P 2011-12-02 2012-06-04
DIS-WALT DISNEY COMPANY (THE)-57 P 2011-03-11 2011-09-27
EQR-EQUITY RESIDENTIAL-13 P 2010-02-22 2012-08-31
GLW-CORNING INCORPORATED-5 P 2010-09-17 2011-09-13
INTC-INTEL CP-6 P 2009-07-14 2012-06-21
MTB-M&T BANK CORPORATION-2 P 2010-09-17 2011-10-21
PG-PROCTER & GAMBLE CO-3 P 2009-01-15 2012-01-06
PSX-PHILLIPS 66-0.5 P 2012-05-01 2012-05-10
SU-SUNCOR ENERGY INC.-19 P 2012-06-04 2012-08-22
UTX-UNITED TECHNOLOGIES CP-4 P 2009-01-15 2012-08-22
WEC-WISCONSIN ENERGY CP-23 P 2009-02-24 2012-08-22
APA-APACHE CP-5 P 2009-07-31 2011-10-10
BHI-BAKER HUGHES INCORPORATED-23 P 2011-10-10 2011-11-16
BWA-BORGWARNER INC.-39 P 2011-02-02 2012-06-07
CMI-CUMMINS INC.-1 P 2010-09-17 2012-08-02
COP-CONOCOPHILLIPS-51 P 2011-11-16 2012-06-04
DLTR-DOLLAR TREE INC-3 P 2009-01-15 2012-06-21
EQR-EQUITY RESIDENTIAL-20 P 2010-05-04 2012-08-31
GS/PC-GOLDMAN SACHS PFD-1 P 2010-09-17 2012-06-13
INTC-INTEL CP-7 P 2009-07-31 2012-07-02
MTB-M&T BANK CORPORATION-27 P 2010-02-04 2011-10-21
PG-PROCTER & GAMBLE CO-9 P 2009-01-15 2012-08-22
PSX-PHILLIPS 66-11 P 2012-05-01 2012-05-09
SU-SUNCOR ENERGY INC.-8 P 2012-06-04 2012-06-21
V-VISA INC.-15 P 2011-08-16 2012-07-18
WEC-WISCONSIN ENERGY CP-7 P 2009-02-24 2012-01-06
APA-APACHE CP-8 P 2009-07-24 2011-10-10
BHI-BAKER HUGHES INCORPORATED-38 P 2011-07-26 2011-11-16
C-CITIGROUP INC-15 P 2010-03-15 2012-08-22
CMI-CUMMINS INC.-10 P 2010-02-10 2012-08-02
CPB-CAMPBELL SOUP COMPANY-98 P 2011-09-06 2011-12-05
DLTR-DOLLAR TREE INC-41 P 2009-01-15 2012-06-23
EQR-EQUITY RESIDENTIAL-28 P 2010-02-22 2012-08-28
GS/PC-GOLDMAN SACHS PFD-4 P 2009-04-22 2012-06-13
JNJ-JOHNSON & JOHNSON INC-12 P 2009-01-15 2012-08-22
MTB-M&T BANK CORPORATION-4 P 2011-08-16 2011-10-21
PM-PHILIP MORRIS INTERNATIONAL INC-2 P 2011-05-17 2012-06-21
PSX-PHILLIPS 66-22 P 2012-05-01 2012-05-09
SYK-STRYKER CORP.-50 P 2011-12-05 2012-07-30
V-VISA INC.-3 P 2011-08-16 2012-08-22
WFC-WELLS FARGO & CO-35 P 2009-01-15 2012-08-22
AVB-AVALONBAY COMMUNITIES INC-2 P 2010-09-17 2011-11-08
BMCIX-BLACKROCK US OPPORTUNITIES POR P 2011-12-13 2012-04-04
C-CITIGROUP INC-6 P 2010-03-15 2012-06-21
CMI-CUMMINS INC.-2 P 2009-10-28 2012-06-21
CSCO-CISCO SYSTEMS INC-42 P 2011-09-13 2012-08-22
DLTR-DOLLAR TREE INC-6 P 2009-01-15 2012-08-22
EQR-EQUITY RESIDENTIAL-3 P 2010-02-22 2012-01-06
GS/PC-GOLDMAN SACHS PFD-5 P 2009-04-27 2012-06-13
JNJ-JOHNSON & JOHNSON INC-2 P 2009-01-15 2012-01-06
NOV-NATIONAL-OILWELL INC.-11 P 2010-03-24 2011-09-02
PM-PHILIP MORRIS INTERNATIONAL INC-7 P 2011-05-17 2012-08-22
SDRL-SEADRILL LIMITED-19 P 2011-12-02 2012-08-20
T-AT&T INC-21 P 2009-07-31 2012-08-22
VIA-VIACOM INC.-11 P 2011-02-02 2011-10-13
WFC-WELLS FARGO & CO-5 P 2009-01-15 2012-01-06
AVB-AVALONBAY COMMUNITIES INC-21 P 2010-06-01 2011-11-08
BMCIX-BLACKROCK US OPPORTUNITIES POR P 2009-09-01 2012-04-04
CAT-CATERPILLAR INC-3 P 2012-03-12 2012-08-22
CMI-CUMMINS INC.-3 P 2012-02-02 2012-08-02
CSCO-CISCO SYSTEMS INC-8 P 2011-09-13 2012-06-21
EBAY-EBAY INC-13 P 2011-02-11 2012-08-22
EQR-EQUITY RESIDENTIAL-3 P 2010-09-17 2012-08-31
GS/PC-GOLDMAN SACHS PFD-6 P 2009-07-31 2012-06-13
JPM-JP MORGAN CHASE & CO-16 P 2009-01-15 2012-05-24
NOV-NATIONAL-OILWELL INC.-7 P 2010-03-24 2011-09-06
PNC-P N C FIN SVCS GR-10767.64 P 2012-02-29 2012-05-31
SDRL-SEADRILL LIMITED-76 P 2010-09-29 2012-08-20
T-AT&T INC-3 P 2009-01-15 2012-08-22
VIA-VIACOM INC.-12 P 2010-05-25 2011-10-13
WPI-WATSON PHARMACEUTICALS INC-10 P 2010-09-17 2011-12-05
AWK-AMERICAN WATER WORKS COMPANY INC P 2010-08-25 2012-01-06
BMCIX-BLACKROCK US OPPORTUNITIES POR P 2010-03-22 2012-04-04
CB-CHUBB CP-17 P 2010-11-01 2012-08-28
CMI-CUMMINS INC.-3 P 2009-10-28 2012-08-02
CSX-CSX CORPORATION-111 P 2010-08-04 2011-11-16
EMC-EMC CP-42 P 2009-09-01 2011-09-13
ETN-EATON CP-2 P 2010-09-17 2012-02-02
HAL-HALLIBURTON COMPANY-14 P 2012-08-20 2012-08-22
JPM-JP MORGAN CHASE & CO-27 P 2009-01-15 2012-08-22
NOV-NATIONAL-OILWELL INC.-8 P 2010-03-24 2012-08-22
PNC-P N C FIN SVCS GR-13637.18 P 2011-05-31 2011-11-30
SJM-J.M. SMUCKER COMPANY (THE)-11 P 2009-09-01 2012-02-17
T-AT&T INC-38 P 2009-01-15 2012-08-10
VIA-VIACOM INC.-13 P 2009-07-31 2011-10-13
WPI-WATSON PHARMACEUTICALS INC-29 P 2010-06-15 2011-12-05
AWK-AMERICAN WATER WORKS COMPANY INC P 2010-08-25 2012-01-06
BMCIX-BLACKROCK US OPPORTUNITIES POR P 2010-08-16 2012-04-04
CB-CHUBB CP-9 P 2010-11-01 2012-08-22
CMI-CUMMINS INC.-9 P 2012-02-17 2012-08-02
CSX-CSX CORPORATION-6 P 2010-09-17 2011-11-16
EMC-EMC CP-45 P 2010-05-20 2012-07-02
ETN-EATON CP-54 P 2010-03-24 2012-02-02
HCP-HCP-11 P 2011-11-08 2012-08-22
KBR-KBR-73 P 2012-02-02 2012-06-05
NSC-NORFOLK SOUTHER CORP.-36 P 2011-11-16 2012-03-12
PNC-P N C FIN SVCS GR-1525.96 P 2012-02-29 2012-08-31
SJM-J.M. SMUCKER COMPANY (THE)-12 P 2010-02-02 2012-02-17
TGT-TARGET CP-34 P 2011-10-13 2012-01-06
VIA-VIACOM INC.-19 P 2009-10-08 2011-10-13
WPI-WATSON PHARMACEUTICALS INC-36 P 2010-06-15 2011-09-02
(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 10,084   10,053 31
b 797   474 323
c 1,028   1,000 28
d 604   593 11
e 815   399 416
335   335  
1,499   975 524
269   267 2
158   129 29
811   670 141
2,423   2,262 161
2,640   2,640  
365   305 60
2,257   2,363 -106
1,101   593 508
502   293 209
116   78 38
441   441  
204   219 -15
1,122   1,149 -27
612   644 -32
1,581   1,008 573
169   145 24
374   372 2
1,820   1,511 309
301   268 33
2,232   2,318 -86
4,903   4,903  
438   377 61
833   462 371
169   141 28
2,725   1,554 1,171
1,361   957 404
78   196 -118
158   170 -12
173   185 -12
1,129   1,120 9
103   88 15
438   555 -117
384   338 46
396   302 94
593   579 14
653   468 185
7,206   7,206  
491   361 130
885   492 393
2,358   2,182 176
366   205 161
1,435   1,212 223
875   2,273 -1,398
352   313 39
442   394 48
141   117 24
138   127 11
1,826   1,984 -158
205   154 51
10,104   9,971 133
816   472 344
222   156 66
741   741  
658   538 120
266   154 112
158   158  
1,418   1,227 191
147   121 26
451   1,180 -729
391   257 134
1,995   1,852 143
2,494   2,087 407
2,367   1,941 426
329   324 5
1,136   755 381
404   377 27
393   189 204
357   245 112
7,623   7,623  
658   560 98
478   277 201
2,101   1,993 108
171   153 18
144   129 15
63   127 -64
911   810 101
433   338 95
158   99 59
636   411 225
372   348 24
119   84 35
316   230 86
867   531 336
405   405  
2,452   2,538 -86
319   275 44
237   156 81
1,111   927 184
532   468 64
513   451 62
114   97 17
98   82 16
1,962   2,528 -566
237   151 86
1,445   991 454
734   776 -42
1,376   1,872 -496
579   425 154
430   358 72
477   377 100
107   110 -3
1,279   1,099 180
498   311 187
353   297 56
88   94 -6
2,731   1,997 734
207   134 73
918   438 480
413   371 42
656   578 78
720   415 305
613   1,030 -417
969   598 371
1,041   1,230 -189
181   218 -37
3,418   3,497 -79
683   611 72
664   507 157
842   467 375
972   950 22
479   502 -23
2,310   1,580 730
156   81 75
833   881 -48
1,790   2,441 -651
795   450 345
68   85 -17
165   97 68
149   174 -25
200   181 19
16   17 -1
620   524 96
318   210 108
887   488 399
442   389 53
1,342   1,200 142
2,528   2,607 -79
91   85 6
2,655   2,739 -84
337   82 255
1,224   940 284
94   151 -57
183   134 49
2,008   2,013 -5
604   542 62
349   376 -27
231   220 11
1,858   1,283 575
242   148 94
707   618 89
2,217   3,040 -823
434   434  
906   497 409
3,193   3,044 149
2,211   563 1,648
1,717   969 748
375   486 -111
813   703 110
297   295 2
177   137 40
698   752 -54
2,565   2,451 114
386   257 129
1,191   861 330
260   221 39
2,188   1,945 243
167   238 -71
189   97 92
803   681 122
294   82 212
168   104 64
469   613 -144
130   117 13
720   467 253
651   480 171
766   659 107
780   539 241
466   477 -11
144   123 21
2,728   2,030 698
12,483   10,000 2,483
270   327 -57
272   340 -68
137   130 7
605   446 159
184   147 37
563   968 -405
543   401 142
436   297 139
10,768   10,768  
3,062   2,180 882
111   78 33
508   390 118
634   435 199
96   68 28
5,214   5,000 214
1,246   991 255
272   146 126
2,464   2,000 464
917   660 257
99   80 19
494   481 13
998   677 321
621   339 282
13,637   13,637  
804   567 237
1,425   982 443
551   319 232
1,839   1,268 571
64   45 19
2,198   2,000 198
655   525 130
815   1,099 -284
133   110 23
1,088   836 252
2,669   2,010 659
495   424 71
1,843   2,424 -581
2,382   2,694 -312
1,526   1,526  
877   733 144
1,668   1,794 -126
805   528 277
2,402   1,573 829
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       31
b       323
c       28
d       11
e       416
       
      524
      2
      29
      141
      161
       
      60
      -106
      508
      209
      38
       
      -15
      -27
      -32
      573
      24
      2
      309
      33
      -86
       
      61
      371
      28
      1,171
      404
      -118
      -12
      -12
      9
      15
      -117
      46
      94
      14
      185
       
      130
      393
      176
      161
      223
      -1,398
      39
      48
      24
      11
      -158
      51
      133
      344
      66
       
      120
      112
       
      191
      26
      -729
      134
      143
      407
      426
      5
      381
      27
      204
      112
       
      98
      201
      108
      18
      15
      -64
      101
      95
      59
      225
      24
      35
      86
      336
       
      -86
      44
      81
      184
      64
      62
      17
      16
      -566
      86
      454
      -42
      -496
      154
      72
      100
      -3
      180
      187
      56
      -6
      734
      73
      480
      42
      78
      305
      -417
      371
      -189
      -37
      -79
      72
      157
      375
      22
      -23
      730
      75
      -48
      -651
      345
      -17
      68
      -25
      19
      -1
      96
      108
      399
      53
      142
      -79
      6
      -84
      255
      284
      -57
      49
      -5
      62
      -27
      11
      575
      94
      89
      -823
       
      409
      149
      1,648
      748
      -111
      110
      2
      40
      -54
      114
      129
      330
      39
      243
      -71
      92
      122
      212
      64
      -144
      13
      253
      171
      107
      241
      -11
      21
      698
      2,483
      -57
      -68
      7
      159
      37
      -405
      142
      139
       
      882
      33
      118
      199
      28
      214
      255
      126
      464
      257
      19
      13
      321
      282
       
      237
      443
      232
      571
      19
      198
      130
      -284
      23
      252
      659
      71
      -581
      -312
       
      144
      -126
      277
      829
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 26,593
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 -951
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 20,906 503,552 0.041517
2009 25,900 497,465 0.052064
2008 30,859 569,227 0.054212
2007 32,255 692,702 0.046564
2006 27,788 736,901 0.037709
2 Total of line 1, column (d) ...................... 2 0.232066
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 0.046413
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 528,272
5 Multiply line 4 by line 3....................... 5 24,519
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 349
7 Add lines 5 and 6......................... 7 24,868
8 Enter qualifying distributions from Part XII, line 4.............. 8 21,250
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 1 697
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2............................ 3 697
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 697
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 995
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 995
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
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 10 298
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet298 Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bullet
    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 addressbulletNONE
    14
    The books are in care ofbulletWILLIAM SMITH Telephone no.bullet (410) 641-0448
    Located atbullet11530 QUILLEN WAYBERLINMD ZIP+4bullet21811
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
     
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    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
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2011, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2011?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2011 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2011.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    WILLIAM D SMITHClick to see attachment SEC/TREAS
    3.00     		2,100 0 0
    11530 QUILLEN WAY
    BERLIN,MD21811
    RAYMOND COATESClick to see attachment PRESIDENT
    1.00     		900 0 0
    PO BOX 366
    BERLIN,MD21811
    DR ROBERT DURKINClick to see attachment DIRECTOR
    1.00     		525 0 0
    10226 SILVER POINT
    OCEAN CITY,MD21811
    WAYNE BENSONClick to see attachment DIRECTOR
    1.00     		825 0 0
    ST MARTINS NECK ROAD
    BISHOPVILLE,MD21813
    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  
    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)
    Form 990-PF (2011)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3..........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    507,825
    b
    Average of monthly cash balances.......................
    1b
    28,492
    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
    536,317
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    536,317
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    8,045
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    528,272
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    26,414
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    26,414
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    697
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    697
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    25,717
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    25,717
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    25,717
    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
    21,250
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    21,250
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    21,250
    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 25,717
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 177
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2011:
    a From 2006.......  
    b From 2007.......  
    c From 2008.......  
    d From 2009.......  
    e From 2010.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 21,250
    a Applied to 2010, but not more than line 2a 177
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		  
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		 
    d Applied to 2011 distributable amount..... 21,073
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2011.    
    (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  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		 
    e Undistributed income for 2010. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    f Undistributed income for 2011. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		4,644
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		 
    8Excess distributions carryover from 2006 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		 
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2007....  
    b Excess from 2008....  
    c Excess from 2009....  
    d Excess from 2010....  
    e Excess from 2011....  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2011, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2011 (b) 2010 (c) 2009 (d) 2008
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    WILLIAM SMITH
    11530 QUILLEN WAY
    BERLIN,MD21811
    (410) 641-0448
    bThe form in which applications should be submitted and information and materials they should include:
    THERE IS NO SPECIFIC FORMAT FOR SUBMISSION ENTRIES
    cAny submission deadlines:
    THERE ARE NO DEADLINES WITH RESPECT TO SUBMISSIONS FOR GIFTS OR GRANTS.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    EXPENDITURES MUST BE FOR CHARITABLE, RELIGIOUS, EDUCA- TIONAL, OR SCIENTIFIC PURPOSES, WITHIN THE UNITED STATES OF AMERICA. DISTRIBUTIONS SHOULD BE MADE TO ORGANIZATIONS WHICH QUALIFY AS EXEMPT ORGANIZATIONS UNDER APPLICABLE PROVISIONS OF THE INTERNAL REVENUE CODE.
    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
    CALVARY PENTACOSTAL CHURCH
    13325 WORCESTER HIGHWAY
    BISHOPVILLE,MD21813     		NONE N/A BUILDING FUND 500
    DIAKONIA INC
    12747 OLD BRIDGE ROAD
    OCEAN CITY,MD21842     		NONE N/A EMERGENCY HOMELESS CENTER 10,000
    FURRNACE TOWN FOUNDATION
    3816 OLD FURNACE ROAD
    SNOW HILL,MD21863     		NONE N/A HISTORICAL EXHIBIT PROGRAMS 500
    MID-ATLANTIC SYMPHONY
    PO BOX 3687
    OCEAN CITY,MD21843     		NONE N/A CULTURAL ENHANCEMENT 500
    WOR WIC COMMUNITY COLLEGE
    32000 CAMPUS DRIVE
    SALISBURY,MD21801     		NONE N/A EDUCATIONAL PROGRAMS 3,000
    WORCESTER COUNTY ARTS COUNCIL
    6 JEFFERSON STREET
    BERLIN,MD21811     		NONE N/A CULTURAL PROMOTION 250
    WORCESTER COUNTY DEVELOPM
    8545 NEWARK ROAD
    NEWARK,MD21841     		NONE N/A ASSIST DEVELOPMENTALLY DISABLED 5,500
    WORCESTER COUNTY YOUTH &
    29 BROAD STREET
    BERLIN,MD21811     		NONE N/A FAMILY SUPPORT CENTER 1,000
    Total .................................bullet 3a 21,250
    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         7,188
    4 Dividends and interest from securities....         8,536
    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         28,851
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aCLASS ACTION SUIT PROCEEDS         422
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..     44,997
    13Total. Add line 12, columns (b), (d), and (e)..................
    1344,997
    (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.)
    3 EARNING OF INTEREST, DIVIDENDS AND GAINS FROM INVESTMENT
    4 IS CRUCIAL TO THE FOUNDATIONS EFFORTS SO THAT THE
    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:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TYLER & COMPANY, P.A. 3,060 3,060 3,060  

    TY 2011 CompensationExplanation
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Person Name Explanation
    WILLIAM D SMITH  
    RAYMOND COATES  
    DR ROBERT DURKIN  
    WAYNE BENSON  

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Name of Bond End of Year Book Value End of Year Fair Market Value
      59,211 64,050

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CORPORATE STOCKS 338,976 378,638

    TY 2011 InvestmentsGovtObligationsSch
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    US Government Securities - End of Year Book Value:

    63,907
    US Government Securities - End of Year Fair Market Value:

    74,704
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2011 OtherExpensesSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    ADVERTISING 21 21 21  
    INSURANCE 900 900 900  
    OFFICE EXPENSE 129 129 129  


    TY 2011 OtherIncomeSchedule2
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    CLASS ACTION SUIT PROCEEDS 422   422


    TY 2011 OtherProfessionalFeesSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT COUNSELING 2,633 2,633 2,633  


    TY 2011 TaxesSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL INCOME TAX 697 697 697  
    FOREIGN INCOME TAX 8 8 8