TY 2012 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

2012

Open to Public Inspection

For calendar year 2012, or tax year beginning 01-01-2012 , and ending 12-31-2012

Name of foundation
JOE AND ARLENE WATT FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 6085 Room/suite

City or town, state, and ZIP code
SHERIDAN, WY82801

A Employer identification number

83-0330482

B Telephone number (see instructions)

(307) 672-1498

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85% test,
check here and attach computation ........... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

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

$21,528,000J 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 instructions).)	(a) Revenue and expenses per books		(b) Net investment 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......	644,063		644,037
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		581,256
b	Gross sales price for all assets on line 6a 5,357,835
7	Capital gain net income (from Part IV, line 2)...			581,256
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).......		32,937	27,714
12	Total. Add lines 1 through 11........	1,258,256		1,253,007
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		1,550	1,163	387
c	Other professional fees (attach schedule)....		111,128	111,128
17	Interest...............
18	Taxes (attach schedule) (see instructions)		19,308	796	12
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		136	68	68
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	132,122		113,155	467
25	Contributions, gifts, grants paid........	1,015,000			1,015,000
26	Total expenses and disbursements. Add lines 24 and 25	1,147,122		113,155	1,015,467
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	111,134
b	Net investment income (if negative, enter -0-)			1,139,852
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2012)

Form 990-PF (2012)

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..........	115,758	376,589	376,589
	3	Accounts receivable
		Less: allowance for doubtful accounts
	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
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	2,782,493	2,522,978	2,657,468
	b	Investments—corporate stock (attach schedule)........	10,771,785	10,645,445	13,415,212
	c	Investments—corporate bonds (attach schedule)........	4,486,238	4,717,775	4,952,901
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	2	2	106,849
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	6,360	18,981	18,981
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	18,162,636	18,281,770	21,528,000
	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 )		8,000
	23	Total liabilities (add lines 17 through 22)..........		8,000
		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.........	18,162,636	18,273,770
	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)....................	18,162,636	18,273,770
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	18,162,636	18,281,770

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	18,162,636
2	Enter amount from Part I, line 27a.....................	2	111,134
3	Other increases not included in line 2 (itemize)	3
4	Add lines 1, 2, and 3..........................	4	18,273,770
5	Decreases not included in line 2 (itemize)	5
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	18,273,770

Form 990-PF (2012)

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	2693-CONOCOPHILLIPS	P	2011-10-05	2012-08-17
b	4479.51-FNMA POOL AL1537 2.8130% 02	P	2012-04-26	2012-10-25
c	437-KRAFT FOODS GROUP INC	P	2011-12-27	2012-11-05
d	250-AIR PRODUCTS & CHEMICALS	P	2002-07-30	2012-02-28
e	2100.84-EATON VANCE PARAMETRIC TAX M	P	2007-09-10	2012-11-08
	1753.08-FHLMC POOL J11566	P	2011-01-04	2012-03-15
	860.46-FHLMC SER 2825	P	2005-08-02	2012-06-15
	2.63-FHLMC SER 3640 1.	P	2010-08-25	2012-02-15
	1818.83-FHLMC SER 3640	P	2010-08-25	2012-05-15
	3856.42-FHLMC SERIES 2622 PE	P	2007-08-10	2012-04-15
	6286.37-FHLMC SERIES 2790	P	2007-08-31	2012-06-15
	828.79-FNMA SER 2005-1 VK	P	2006-06-14	2012-06-25
	9664.66-FNMA SERIES 2005-36	P	2008-04-11	2012-04-25
	11498.7-GNMA POOL 2009-61	P	2010-06-08	2012-11-20
	208.59-GNMA SER 2008-56	P	2008-08-21	2012-07-20
	3114.05-GNMA SERIES 2009-93	P	2009-12-09	2012-05-20
	600-JOHNSON & JOHNSON	P	2002-08-22	2012-09-13
	17288.25-MASTER ASSET SECURITIZATION	P	2008-02-15	2012-12-25
	800-NEXTERA ENERGY INC	P	2009-02-12	2012-11-08
	276.98-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-05-25
	100000-FED FARM CREDIT BANK NOTES	P	2011-12-14	2012-11-14
	1479-GILEAD SCIENCES INC.	P	2012-05-04	2012-12-11
	2000-PEABODY ENERGY CORPORATION	P	2011-12-27	2012-03-05
	1000-AIR PRODUCTS & CHEMICALS	P	2003-06-12	2012-02-28
	473.053-EATON VANCE PARAMETRIC TAX M	P	2008-05-05	2012-11-08
	1266.56-FHLMC POOL J11566	P	2011-01-04	2012-12-15
	880.38-FHLMC SER 2825	P	2005-08-02	2012-11-15
	2030.35-FHLMC SER 3640	P	2010-08-25	2012-02-15
	2.18-FHLMC SER 3640 1.	P	2010-08-25	2012-06-15
	2390.1-FHLMC SERIES 2622 PE	P	2007-08-10	2012-05-15
	6936.65-FHLMC SERIES 2790	P	2007-08-31	2012-11-15
	832.24-FNMA SER 2005-1 VK	P	2006-06-14	2012-07-25
	335.21-FNMA SERIES 2005-36	P	2008-04-11	2012-06-25
	10871.62-GNMA POOL 2009-61	P	2010-06-08	2012-12-20
	2441.44-GNMA SER 2008-56	P	2008-08-21	2012-07-20
	4483.56-GNMA SERIES 2009-93	P	2009-12-09	2012-08-20
	700-JOHNSON & JOHNSON	P	2002-12-11	2012-09-13
	5510.54-MASTER ASSET SECURITIZATION	P	2008-02-15	2012-10-25
	1026.087-OPPENHEIMER MAIN STREET SMA	P	2006-12-11	2012-11-08
	3592.43-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-10-25
	150000-FED HOME LOAN BANK NOTES	P	2011-11-10	2012-05-10
	6447.47-GNMA POOL SER 2010-14	P	2011-06-23	2012-02-20
	0.5-PHILLIPS 66	P	2011-10-05	2012-05-08
	750-AIR PRODUCTS & CHEMICALS	P	2010-08-31	2012-02-28
	2243-EXELON CORPORATION	P	2009-02-12	2012-11-08
	3717.48-FHLMC POOL J11566	P	2011-01-04	2012-06-15
	841.02-FHLMC SER 2825	P	2005-08-02	2012-01-15
	2.23-FHLMC SER 3640 1.	P	2010-08-25	2012-07-15
	2.36-FHLMC SER 3640 1.	P	2010-08-25	2012-05-15
	3387.87-FHLMC SERIES 2622 PE	P	2007-08-10	2012-06-15
	10725.53-FHLMC SERIES 2790	P	2007-08-31	2012-01-15
	815.12-FNMA SER 2005-1 VK	P	2006-06-14	2012-02-25
	12293.76-FNMA SERIES 2005-36	P	2008-04-11	2012-01-25
	820.47-GNMA POOL 2009-61	P	2010-06-08	2012-06-20
	197.54-GNMA SER 2008-56	P	2008-08-21	2012-08-20
	7094.76-GNMA SERIES 2009-93	P	2009-12-09	2012-09-20
	300-JOHNSON & JOHNSON	P	2003-04-21	2012-09-13
	171.24-MASTER ASSET SECURITIZATION	P	2008-02-15	2012-10-25
	2025-PEABODY ENERGY CORPORATION	P	2009-02-12	2012-03-05
	2316.72-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-01-25
	100000-FED HOME LOAN BANK NOTES STR	P	2012-07-30	2012-08-23
	3633.56-GNMA POOL SER 2010-14	P	2011-06-23	2012-05-20
	1346-PHILLIPS 66	P	2011-10-05	2012-05-09
	151-APPLE COMPUTER INC	P	2008-04-11	2012-03-22
	17-EXELON CORPORATION	P	2010-02-01	2012-11-08
	1216.59-FHLMC POOL J11566	P	2011-01-04	2012-11-15
	754.45-FHLMC SER 3174 PX	P	2006-09-22	2012-02-15
	1716.06-FHLMC SER 3640	P	2010-08-25	2012-07-15
	1.84-FHLMC SER 3640 1.	P	2010-08-25	2012-10-15
	3651.32-FHLMC SERIES 2622 PE	P	2007-08-10	2012-11-15
	745.49-FHLMC SERIES 3221	P	2006-11-15	2012-02-15
	835.71-FNMA SER 2005-1 VK	P	2006-06-14	2012-08-25
	4580.25-FNMA SERIES 2006-78 AV	P	2007-05-10	2012-02-25
	813-GNMA POOL 2009-61 5.5	P	2010-06-08	2012-04-20
	2312.02-GNMA SER 2008-56	P	2008-08-21	2012-08-20
	3155.08-GNMA SERIES 2009-93	P	2009-12-09	2012-03-20
	600-JOHNSON & JOHNSON	P	2003-10-27	2012-09-13
	3688-MERCK & CO INC	P	2010-02-17	2012-12-13
	975-PEABODY ENERGY CORPORATION	P	2009-06-24	2012-03-05
	17.43-T ROWE PRICE MID CAP GROWTH FU	P	2003-07-10	2012-11-08
	100000-FED HOME LOAN BANK NOTES STR	P	2012-08-30	2012-12-27
	6011.32-GNMA POOL SER 2010-14	P	2011-06-23	2012-03-20
	1500-TIFFANY & CO	P	2011-12-23	2012-07-05
	1500-AT&T INC 6.375% 02/15/2056 SER	P	2007-02-13	2012-02-15
	200-EXXON MOBIL CORPORATION	P	2002-06-13	2012-04-05
	3104.71-FHLMC POOL J11566	P	2011-01-04	2012-01-15
	770.3-FHLMC SER 3174 PX 5	P	2006-09-22	2012-07-15
	1677.4-FHLMC SER 3640	P	2010-08-25	2012-06-15
	1421.47-FHLMC SER 3640	P	2010-08-25	2012-10-15
	4223.72-FHLMC SERIES 2622 PE	P	2007-08-10	2012-01-15
	761.15-FHLMC SERIES 3221	P	2006-11-15	2012-07-15
	839.19-FNMA SER 2005-1 VK	P	2006-06-14	2012-09-25
	10498.27-FNMA SERIES 2006-78 AV	P	2007-05-10	2012-03-25
	835.62-GNMA POOL 2009-61	P	2010-06-08	2012-10-20
	202.83-GNMA SER 2008-56	P	2008-08-21	2012-03-20
	9395.15-GNMA SERIES 2009-93	P	2009-12-09	2012-11-20
	758-JOHNSON & JOHNSON	P	2006-12-11	2012-09-13
	1000-MERCK & CO INC	P	2010-02-17	2012-11-08
	1000-PEABODY ENERGY CORPORATION	P	2010-07-29	2012-03-05
	657.03-T ROWE PRICE MID CAP GROWTH F	P	2003-07-31	2012-11-08
	100000-FED NATL MTG ASSN NOTES	P	2012-06-26	2012-12-26
	7116.89-GNMA POOL SER 2010-14	P	2011-06-23	2012-04-20
	500-TIFFANY & CO	P	2011-12-27	2012-07-05
	100000-BARCLAYS BANK PLC STR	P	2010-06-14	2012-06-29
	400-EXXON MOBIL CORPORATION	P	2002-06-13	2012-04-05
	1630.6-FHLMC POOL J11566	P	2011-01-04	2012-02-15
	773.51-FHLMC SER 3174 PX	P	2006-09-22	2012-08-15
	2.11-FHLMC SER 3640 1.	P	2010-08-25	2012-08-15
	1.95-FHLMC SER 3640 1.	P	2010-08-25	2012-11-15
	3949.79-FHLMC SERIES 2622 PE	P	2007-08-10	2012-02-15
	757.99-FHLMC SERIES 3221	P	2006-11-15	2012-06-15
	818.51-FNMA SER 2005-1 VK	P	2006-06-14	2012-03-25
	8867.26-FNMA SERIES 2006-78 AV	P	2007-05-10	2012-04-25
	801.92-GNMA POOL 2009-61	P	2010-06-08	2012-01-20
	2373.94-GNMA SER 2008-56	P	2008-08-21	2012-03-20
	6918.05-GNMA SERIES 2009-93	P	2009-12-09	2012-12-20
	3040-JOHNSON CONTROLS INC	P	2011-07-27	2012-11-08
	312-MERCK & CO INC	P	2010-03-31	2012-12-13
	371-QUALCOMM INC	P	2005-01-31	2012-11-08
	71.574-T ROWE PRICE MID CAP GROWTH F	P	2003-10-17	2012-11-08
	100000-FED NATL MTG ASSN NOTES	P	2011-11-22	2012-10-24
	3231.92-GNMA POOL SER 2010-14	P	2011-06-23	2012-06-20
	1200-VERIZON COMMUNICATIONS	P	2011-10-05	2012-05-04
	100000-BB&T CORPORATION	P	2010-05-12	2012-07-27
	15000-FED FARM CREDIT BANK NOTES 4	P	2009-10-21	2012-12-04
	844.88-FHLMC SER 2825	P	2005-08-02	2012-02-15
	776.73-FHLMC SER 3174 PX	P	2006-09-22	2012-09-15
	1624.73-FHLMC SER 3640	P	2010-08-25	2012-08-15
	1505.55-FHLMC SER 3640	P	2010-08-25	2012-11-15
	7202.51-FHLMC SERIES 2790	P	2007-08-31	2012-02-15
	764.32-FHLMC SERIES 3221	P	2006-11-15	2012-08-15
	825.35-FNMA SER 2005-1 VK	P	2006-06-14	2012-05-25
	14049.26-FNMA SERIES 2006-78 AV	P	2007-05-10	2012-05-25
	6967.89-GNMA POOL SER 2010-14	P	2011-06-23	2012-07-20
	2168.83-GNMA SER 2008-56	P	2008-08-21	2012-06-20
	3134.5-GNMA SERIES 2009-93	P	2009-12-09	2012-04-20
	389.666667-KRAFT FOODS GROUP INC	P	2008-10-02	2012-11-02
	700-MERCK & CO INC	P	2010-07-29	2012-12-13
	2685.04-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-06-25
	425.427-T ROWE PRICE MID CAP VALUE F	P	2006-01-11	2012-11-08
	11000-FED NATL MTG ASSN NOTES 1	P	2011-12-30	2012-04-26
	2824.76-GNMA POOL SER 2010-14	P	2011-06-23	2012-01-20
	1000-VERIZON COMMUNICATIONS	P	2011-12-27	2012-05-04
	200-CATERPILLAR INC	P	2008-03-24	2012-02-08
	50000-FED FARM CREDIT BANK NOTES 6	P	2009-03-10	2012-06-28
	864.42-FHLMC SER 2825	P	2005-08-02	2012-07-15
	757.58-FHLMC SER 3174 PX	P	2006-09-22	2012-03-15
	2.24-FHLMC SER 3640 1.	P	2010-08-25	2012-09-15
	2.58-FHLMC SER 3640 1.	P	2010-08-25	2012-01-15
	5577.79-FHLMC SERIES 2790	P	2007-08-31	2012-07-15
	767.51-FHLMC SERIES 3221	P	2006-11-15	2012-09-15
	846.2-FNMA SER 2005-1 VK 5	P	2006-06-14	2012-11-25
	17320.47-FNMA SERIES 2006-78 AV	P	2007-05-10	2012-06-25
	6726.2-GNMA POOL SER 2010-14	P	2011-06-23	2012-08-20
	338.49-GNMA SER 2008-56	P	2008-08-21	2012-04-20
	3093.73-GNMA SERIES 2009-93	P	2009-12-09	2012-06-20
	240-KRAFT FOODS GROUP INC	P	2009-01-05	2012-11-02
	900-METLIFE INC	P	2007-12-20	2012-04-11
	1319.99-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-07-25
	1009.587-T ROWE PRICE MID CAP VALUE	P	2006-01-17	2012-11-08
	8106.54-FNMA POOL AL1537 2.8130% 02	P	2012-04-26	2012-06-25
	3299.03-GNMA SER 2009-88	P	2012-07-30	2012-09-20
	1250-WASTE MANAGEMENT INC	P	2011-12-27	2012-09-27
	30-CATERPILLAR INC	P	2008-09-29	2012-02-08
	50000-FED HOME LOAN BANK NOTES 5	P	2009-10-09	2012-02-15
	868.39-FHLMC SER 2825	P	2005-08-02	2012-08-15
	779.98-FHLMC SER 3174 PX	P	2006-09-22	2012-10-15
	1730.05-FHLMC SER 3640	P	2010-08-25	2012-09-15
	1991.46-FHLMC SER 3640	P	2010-08-25	2012-01-15
	3255.04-FHLMC SERIES 2790	P	2007-08-31	2012-08-15
	748.6-FHLMC SERIES 3221 5	P	2006-11-15	2012-03-15
	849.72-FNMA SER 2005-1 VK	P	2006-06-14	2012-12-25
	2594.89-FNMA SERIES 2006-78 AV	P	2007-05-10	2012-01-25
	6202.24-GNMA POOL SER 2010-14	P	2011-06-23	2012-09-20
	3961.69-GNMA SER 2008-56	P	2008-08-21	2012-04-20
	6477.4-GNMA SERIES 2009-93	P	2009-12-09	2012-10-20
	321.333333-KRAFT FOODS GROUP INC	P	2009-06-24	2012-11-02
	700-METLIFE INC	P	2008-01-09	2012-04-11
	2759.55-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-02-25
	1000-TARGET CORPORATION	P	2009-09-02	2012-08-03
	5579.43-FNMA POOL AL1537 2.8130% 02	P	2012-04-26	2012-07-25
	143.64-GNMA SER 2009-88	P	2012-07-30	2012-11-20
	1200-ABBOTT LABORATORIES	P	2002-10-17	2012-05-25
	325-CATERPILLAR INC	P	2008-12-30	2012-11-08
	1918.41-FHLMC POOL J11566	P	2011-01-04	2012-04-15
	872.36-FHLMC SER 2825	P	2005-08-02	2012-09-15
	786.48-FHLMC SER 3174 PX	P	2006-09-22	2012-12-15
	2.48-FHLMC SER 3640 1.	P	2010-08-25	2012-03-15
	2464.3-FHLMC SERIES 2622 PE	P	2007-08-10	2012-07-15
	5966.17-FHLMC SERIES 2790	P	2007-08-31	2012-09-15
	777.14-FHLMC SERIES 3221	P	2006-11-15	2012-12-15
	821.93-FNMA SER 2005-1 VK	P	2006-06-14	2012-04-25
	824.23-GNMA POOL 2009-61	P	2010-06-08	2012-07-20
	5068.08-GNMA POOL SER 2010-14	P	2011-06-23	2012-11-20
	321.84-GNMA SER 2008-56	P	2008-08-21	2012-05-20
	3105.21-GNMA SERIES 2009-93	P	2009-12-09	2012-01-20
	78.666667-KRAFT FOODS GROUP INC	P	2009-06-24	2012-11-05
	400-METLIFE INC	P	2008-09-18	2012-04-11
	1019.27-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-08-25
	100000-TRAVELERS COS INC	P	2008-05-22	2012-06-15
	69.08-FNMA POOL AL1537 2.8130% 02/0	P	2012-04-26	2012-08-25
	6108.22-GNMA SER 2009-88	P	2012-07-30	2012-11-20
	1200-ABBOTT LABORATORIES	P	2003-06-20	2012-05-25
	270-CATERPILLAR INC	P	2008-12-30	2012-02-08
	2049.04-FHLMC POOL J11566	P	2011-01-04	2012-05-15
	848.75-FHLMC SER 2825	P	2005-08-02	2012-03-15
	760.75-FHLMC SER 3174 PX	P	2006-09-22	2012-04-15
	1911.02-FHLMC SER 3640	P	2010-08-25	2012-03-15
	3199.04-FHLMC SERIES 2622 PE	P	2007-08-10	2012-08-15
	9771.53-FHLMC SERIES 2790	P	2007-08-31	2012-03-15
	751.71-FHLMC SERIES 3221	P	2006-11-15	2012-04-15
	842.69-FNMA SER 2005-1 VK	P	2006-06-14	2012-10-25
	805.6-GNMA POOL 2009-61 5	P	2010-06-08	2012-02-20
	3131.88-GNMA POOL SER 2010-14	P	2011-06-23	2012-12-20
	185.31-GNMA SER 2008-56	P	2008-08-21	2012-06-20
	100000-GOLDMAN SACHS GROUP INC.	P	2006-03-10	2012-09-01
	333.333333-KRAFT FOODS GROUP INC	P	2010-07-29	2012-11-05
	1100-METLIFE INC	P	2010-05-13	2012-04-11
	2065.14-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-09-25
	800-VERIZON COMMUNICATIONS	P	2008-01-09	2012-05-04
	879.63-FNMA POOL AL1537 2.8130% 02/	P	2012-04-26	2012-09-25
	120.54-GNMA SER 2009-88	P	2012-07-30	2012-12-20
	900-ABBOTT LABORATORIES	P	2004-01-22	2012-05-25
	750-COSTCO WHOLESALE CORPORATION	P	2002-12-11	2012-08-03
	3983.74-FHLMC POOL J11566	P	2011-01-04	2012-07-15
	876.36-FHLMC SER 2825	P	2005-08-02	2012-10-15
	763.92-FHLMC SER 3174 PX	P	2006-09-22	2012-05-15
	1.86-FHLMC SER 3640 1.	P	2010-08-25	2012-12-15
	3176.87-FHLMC SERIES 2622 PE	P	2007-08-10	2012-09-15
	4801.41-FHLMC SERIES 2790	P	2007-08-31	2012-10-15
	754.85-FHLMC SERIES 3221	P	2006-11-15	2012-05-15
	811.74-FNMA SER 2005-1 VK	P	2006-06-14	2012-01-25
	828.02-GNMA POOL 2009-61	P	2010-06-08	2012-08-20
	6102.47-GNMA POOL SER 2010-14	P	2011-06-23	2012-10-20
	243.71-GNMA SER 2008-56	P	2008-08-21	2012-01-20
	49-GOOGLE INC	P	2010-06-09	2012-09-18
	1926.37-LKCM SMALL CAP EQ INSTITUTIO	P	2006-05-31	2012-11-08
	500-METLIFE INC	P	2010-05-11	2012-04-11
	963.78-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-11-25
	1000-VERIZON COMMUNICATIONS	P	2009-07-22	2012-05-04
	43.56-FNMA POOL AL1537 2.8130% 02/0	P	2012-04-26	2012-11-25
	5125.66-GNMA SER 2009-88	P	2012-07-30	2012-12-20
	100-ABBOTT LABORATORIES	P	2004-01-22	2012-11-08
	1912-DISNEY WALT CO HOLDINGS	P	2008-11-12	2012-07-05
	1423.12-FHLMC POOL J11566	P	2011-01-04	2012-08-15
	884.41-FHLMC SER 2825	P	2005-08-02	2012-12-15
	767.1-FHLMC SER 3174 PX 5	P	2006-09-22	2012-06-15
	1433.26-FHLMC SER 3640	P	2010-08-25	2012-12-15
	3710.23-FHLMC SERIES 2622 PE	P	2007-08-10	2012-03-15
	3389.58-FHLMC SERIES 2790	P	2007-08-31	2012-12-15
	770.7-FHLMC SERIES 3221 5	P	2006-11-15	2012-10-15
	9923.94-FNMA SERIES 2005-36	P	2008-04-11	2012-02-25
	831.8-GNMA POOL 2009-61 5	P	2010-06-08	2012-09-20
	211.43-GNMA SER 2008-56	P	2008-08-21	2012-02-20
	2852.47-GNMA SER 2008-56	P	2008-08-21	2012-01-20
	160-GOOGLE INC	P	2010-06-09	2012-10-01
	173.01-MASTER ASSET SECURITIZATION	P	2008-02-15	2012-11-25
	500-METLIFE INC	P	2010-07-29	2012-04-11
	2854.22-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-03-25
	1000-VERIZON COMMUNICATIONS	P	2010-12-17	2012-05-04
	86.38-FNMA POOL AL1537 2.8130% 02/0	P	2012-04-26	2012-12-25
	114.29-GNMA SER 2009-88	P	2012-07-30	2012-10-20
	400-ABBOTT LABORATORIES	P	2004-07-07	2012-11-08
	128-DISNEY WALT CO HOLDINGS	P	2009-01-05	2012-07-05
	3332.29-FHLMC POOL J11566	P	2011-01-04	2012-09-15
	852.64-FHLMC SER 2825	P	2005-08-02	2012-04-15
	783.22-FHLMC SER 3174 PX	P	2006-09-22	2012-11-15
	2.62-FHLMC SER 3640 1.	P	2010-08-25	2012-04-15
	3004.01-FHLMC SERIES 2622 PE	P	2007-08-10	2012-10-15
	9937.63-FHLMC SERIES 2790	P	2007-08-31	2012-04-15
	773.91-FHLMC SERIES 3221	P	2006-11-15	2012-11-15
	8596.72-FNMA SERIES 2005-36	P	2008-04-11	2012-03-25
	816.73-GNMA POOL 2009-61	P	2010-06-08	2012-05-20
	2474.67-GNMA SER 2008-56	P	2008-08-21	2012-02-20
	3073.54-GNMA SERIES 2009-93	P	2009-12-09	2012-07-20
	42-JOHNSON & JOHNSON	P	2002-06-13	2012-09-13
	5567.7-MASTER ASSET SECURITIZATION	P	2008-02-15	2012-11-25
	1869.445-MRGN STNLY INST MID CAP GRW	P	2006-06-21	2012-11-08
	983.03-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-12-25
	5000-WASTE MANAGEMENT INC	P	2011-08-26	2012-09-27
	541.73-FNMA POOL AL1537 2.8130% 02/	P	2012-04-26	2012-05-25
	4860.24-GNMA SER 2009-88	P	2012-07-30	2012-10-20
	500-ABBOTT LABORATORIES	P	2006-02-13	2012-11-08
	2113.271-EATON VANCE PARAMETRIC TAX	P	2007-08-10	2012-11-08
	2873.1-FHLMC POOL J11566	P	2011-01-04	2012-10-15
	856.53-FHLMC SER 2825	P	2005-08-02	2012-05-15
	751.32-FHLMC SER 3174 PX	P	2006-09-22	2012-01-15
	2019.98-FHLMC SER 3640	P	2010-08-25	2012-04-15
	3626.3-FHLMC SERIES 2622 PE	P	2007-08-10	2012-12-15
	10304.35-FHLMC SERIES 2790	P	2007-08-31	2012-05-15
	742.4-FHLMC SERIES 3221 5	P	2006-11-15	2012-01-15
	10193.78-FNMA SERIES 2005-36	P	2008-04-11	2012-05-25
	809.29-GNMA POOL 2009-61	P	2010-06-08	2012-03-20
	3766.87-GNMA SER 2008-56	P	2008-08-21	2012-05-20
	3175.78-GNMA SERIES 2009-93	P	2009-12-09	2012-02-20
	500-JOHNSON & JOHNSON	P	2002-07-30	2012-09-13
	537.23-MASTER ASSET SECURITIZATION	P	2008-02-15	2012-12-25
	2000-NATL CITY CAP TR III PFD 6.625%	P	2010-11-17	2012-05-29
	1068.99-RBSGC MTG PASS THRU CERTS	P	2008-02-15	2012-04-25
	CLASS ACTION PROCEEDS	P		2012-05-03

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	154,340	132,270	22,070
b	4,480	4,705	-225
c	19,519	17,376	2,143
d	22,747	11,275	11,472
e	95,756	100,000	-4,244
	1,753	1,831	-78
	860	880	-20
	3	3
	1,819	1,830	-11
	3,856	3,637	219
	6,286	5,508	778
	829	804	25
	9,665	9,986	-321
	11,499	12,566	-1,067
	209	216	-7
	3,114	3,225	-111
	41,362	33,240	8,122
	17,288	16,856	432
	54,601	39,700	14,901
	277	268	9
	100,000	100,000
	113,338	75,035	38,303
	62,708	68,126	-5,418
	90,986	42,070	48,916
	21,562	24,670	-3,108
	1,267	1,323	-56
	880	900	-20
	2,030	2,043	-13
	2	2
	2,390	2,254	136
	6,937	6,078	859
	832	808	24
	335	346	-11
	10,872	11,881	-1,009
	2,441	2,528	-87
	4,484	4,643	-159
	48,255	39,480	8,775
	5,511	5,373	138
	23,600	23,815	-215
	3,592	3,476	116
	150,000	152,855	-2,855
	6,447	6,788	-341
	15	15
	68,240	55,460	12,780
	71,178	119,690	-48,512
	3,717	3,884	-167
	841	860	-19
	2	2
	2	2
	3,388	3,195	193
	10,726	9,398	1,328
	815	791	24
	12,294	12,703	-409
	820	897	-77
	198	205	-7
	7,095	7,348	-253
	20,681	16,638	4,043
	171	167	4
	63,492	56,282	7,210
	2,317	2,241	76
	100,000	99,990	10
	3,634	3,825	-191
	42,418	39,290	3,128
	90,871	22,401	68,470
	539	777	-238
	1,217	1,271	-54
	754	747	7
	1,716	1,727	-11
	2	2
	3,651	3,444	207
	745	737	8
	836	811	25
	4,580	4,702	-122
	813	888	-75
	2,312	2,394	-82
	3,155	3,267	-112
	41,362	30,276	11,086
	164,387	137,611	26,776
	30,570	29,182	1,388
	1,000	653	347
	100,000	100,000
	6,011	6,329	-318
	81,354	96,674	-15,320
	37,500	37,500
	16,969	7,912	9,057
	3,105	3,243	-138
	770	763	7
	1,677	1,688	-11
	1,421	1,430	-9
	4,224	3,984	240
	761	752	9
	839	815	24
	10,498	10,777	-279
	836	913	-77
	203	210	-7
	9,395	9,730	-335
	52,253	49,998	2,255
	44,251	37,313	6,938
	31,354	45,122	-13,768
	37,694	25,000	12,694
	100,000	100,030	-30
	7,117	7,493	-376
	27,118	33,092	-5,974
	100,000	100,000
	33,937	15,824	18,113
	1,631	1,703	-72
	774	766	8
	2	2
	2	2
	3,950	3,725	225
	758	749	9
	819	794	25
	8,867	9,103	-236
	802	876	-74
	2,374	2,459	-85
	6,918	7,165	-247
	78,400	113,079	-34,679
	13,907	11,733	2,174
	22,943	13,867	9,076
	4,106	2,863	1,243
	100,000	99,925	75
	3,232	3,403	-171
	48,358	43,099	5,259
	100,000	104,500	-4,500
	15,000	16,038	-1,038
	845	864	-19
	777	769	8
	1,625	1,635	-10
	1,506	1,515	-9
	7,203	6,311	892
	764	755	9
	825	801	24
	14,049	14,422	-373
	6,968	7,336	-368
	2,169	2,246	-77
	3,135	3,246	-111
	17,551	13,871	3,680
	31,201	24,614	6,587
	2,685	2,598	87
	10,376	10,295	81
	11,000	10,978	22
	2,825	2,974	-149
	40,298	40,017	281
	22,783	15,196	7,587
	50,000	53,500	-3,500
	864	884	-20
	758	750	8
	2	2
	3	3
	5,578	4,888	690
	768	759	9
	846	821	25
	17,320	17,781	-461
	6,726	7,081	-355
	338	351	-13
	3,094	3,204	-110
	10,810	7,013	3,797
	31,722	54,028	-22,306
	1,320	1,277	43
	24,624	24,260	364
	8,107	8,514	-407
	3,299	3,538	-239
	40,099	41,129	-1,030
	3,417	1,799	1,618
	56,839	51,664	5,175
	868	888	-20
	780	772	8
	1,730	1,741	-11
	1,991	2,004	-13
	3,255	2,852	403
	749	740	9
	850	825	25
	2,595	2,664	-69
	6,202	6,530	-328
	3,962	4,103	-141
	6,477	6,708	-231
	14,473	8,748	5,725
	24,673	40,339	-15,666
	2,760	2,670	90
	62,134	46,480	15,654
	5,579	5,860	-281
	144	154	-10
	74,952	49,628	25,324
	27,279	13,718	13,561
	1,918	2,004	-86
	872	892	-20
	786	779	7
	2	2
	2,464	2,324	140
	5,966	5,228	738
	777	768	9
	822	798	24
	824	901	-77
	5,068	5,336	-268
	322	333	-11
	3,105	3,216	-111
	3,514	2,142	1,372
	14,099	21,540	-7,441
	1,019	986	33
	100,000	101,173	-1,173
	69	73	-4
	6,108	6,551	-443
	74,952	51,473	23,479
	30,756	11,396	19,360
	2,049	2,141	-92
	849	868	-19
	761	753	8
	1,911	1,923	-12
	3,199	3,017	182
	9,772	8,562	1,210
	752	743	9
	843	818	25
	806	880	-74
	3,132	3,297	-165
	185	192	-7
	100,000	100,927	-927
	14,889	10,246	4,643
	38,772	48,150	-9,378
	2,065	1,998	67
	32,239	31,191	1,048
	880	924	-44
	121	129	-8
	56,214	36,774	19,440
	72,753	21,690	51,063
	3,984	4,162	-178
	876	896	-20
	764	757	7
	2	2
	3,177	2,996	181
	4,801	4,207	594
	755	746	9
	812	788	24
	828	905	-77
	6,102	6,425	-323
	244	252	-8
	35,013	23,724	11,289
	45,000	44,653	347
	17,624	21,765	-4,141
	964	932	32
	40,298	28,654	11,644
	44	46	-2
	5,126	5,497	-371
	6,394	4,086	2,308
	92,355	39,422	52,933
	1,423	1,487	-64
	884	904	-20
	767	760	7
	1,433	1,442	-9
	3,710	3,499	211
	3,390	2,970	420
	771	762	9
	9,924	10,254	-330
	832	909	-77
	211	219	-8
	2,852	2,954	-102
	121,249	77,466	43,783
	173	169	4
	17,624	20,233	-2,609
	2,854	2,761	93
	40,298	34,486	5,812
	86	91	-5
	114	123	-9
	25,577	15,944	9,633
	6,183	3,054	3,129
	3,332	3,481	-149
	853	872	-19
	783	776	7
	3	3
	3,004	2,833	171
	9,938	8,708	1,230
	774	765	9
	8,597	8,883	-286
	817	893	-76
	2,475	2,563	-88
	3,074	3,183	-109
	2,895	2,411	484
	5,568	5,429	139
	61,000	45,334	15,666
	983	951	32
	160,394	163,091	-2,697
	542	569	-27
	4,860	5,213	-353
	31,971	21,415	10,556
	96,322	100,000	-3,678
	2,873	3,001	-128
	857	876	-19
	751	744	7
	2,020	2,033	-13
	3,626	3,420	206
	10,304	9,029	1,275
	742	734	8
	10,194	10,533	-339
	809	884	-75
	3,767	3,901	-134
	3,176	3,289	-113
	34,468	26,065	8,403
	537	524	13
	50,000	50,600	-600
	1,069	1,034	35
	129		129

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			22,070
b			-225
c			2,143
d			11,472
e			-4,244
			-78
			-20

			-11
			219
			778
			25
			-321
			-1,067
			-7
			-111
			8,122
			432
			14,901
			9

			38,303
			-5,418
			48,916
			-3,108
			-56
			-20
			-13

			136
			859
			24
			-11
			-1,009
			-87
			-159
			8,775
			138
			-215
			116
			-2,855
			-341

			12,780
			-48,512
			-167
			-19


			193
			1,328
			24
			-409
			-77
			-7
			-253
			4,043
			4
			7,210
			76
			10
			-191
			3,128
			68,470
			-238
			-54
			7
			-11

			207
			8
			25
			-122
			-75
			-82
			-112
			11,086
			26,776
			1,388
			347

			-318
			-15,320

			9,057
			-138
			7
			-11
			-9
			240
			9
			24
			-279
			-77
			-7
			-335
			2,255
			6,938
			-13,768
			12,694
			-30
			-376
			-5,974

			18,113
			-72
			8


			225
			9
			25
			-236
			-74
			-85
			-247
			-34,679
			2,174
			9,076
			1,243
			75
			-171
			5,259
			-4,500
			-1,038
			-19
			8
			-10
			-9
			892
			9
			24
			-373
			-368
			-77
			-111
			3,680
			6,587
			87
			81
			22
			-149
			281
			7,587
			-3,500
			-20
			8


			690
			9
			25
			-461
			-355
			-13
			-110
			3,797
			-22,306
			43
			364
			-407
			-239
			-1,030
			1,618
			5,175
			-20
			8
			-11
			-13
			403
			9
			25
			-69
			-328
			-141
			-231
			5,725
			-15,666
			90
			15,654
			-281
			-10
			25,324
			13,561
			-86
			-20
			7

			140
			738
			9
			24
			-77
			-268
			-11
			-111
			1,372
			-7,441
			33
			-1,173
			-4
			-443
			23,479
			19,360
			-92
			-19
			8
			-12
			182
			1,210
			9
			25
			-74
			-165
			-7
			-927
			4,643
			-9,378
			67
			1,048
			-44
			-8
			19,440
			51,063
			-178
			-20
			7

			181
			594
			9
			24
			-77
			-323
			-8
			11,289
			347
			-4,141
			32
			11,644
			-2
			-371
			2,308
			52,933
			-64
			-20
			7
			-9
			211
			420
			9
			-330
			-77
			-8
			-102
			43,783
			4
			-2,609
			93
			5,812
			-5
			-9
			9,633
			3,129
			-149
			-19
			7

			171
			1,230
			9
			-286
			-76
			-88
			-109
			484
			139
			15,666
			32
			-2,697
			-27
			-353
			10,556
			-3,678
			-128
			-19
			7
			-13
			206
			1,275
			8
			-339
			-75
			-134
			-113
			8,403
			13
			-600
			35
			129

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	581,256
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 instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . . . .		3	36,690

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))
2011	1,045,653	21,484,686	0.048670
2010	917,808	20,558,064	0.044645
2009	1,004,260	18,744,903	0.053575
2008	851,939	21,409,879	0.039792
2007	1,033,969	23,493,297	0.044011

2	Total of line 1, column (d) ......................	2	0.230693
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	0.046139
4	Enter the net value of noncharitable-use assets for 2012 from Part X, line 5.....	4	21,264,483
5	Multiply line 4 by line 3.......................	5	981,122
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	11,399
7	Add lines 5 and 6.........................	7	992,521
8	Enter qualifying distributions from Part XII, line 4..............	8	1,015,467
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.

Form 990-PF (2012)

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	11,399
	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
3	Add lines 1 and 2............................	3	11,399
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	11,399
6	Credits/Payments:

a	2012 estimated tax payments and 2011 overpayment credited to 2012	6a	22,765
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	22,765
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
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	11,366
11	Enter the amount of line 10 to be: Credited to 2013 estimated tax11,366	Refunded	11

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 instructions)

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 2012 or the taxable year beginning in 2012 (see instructions for Part XIV)?

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.

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 instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

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

Yes

Website address bullet

N/A

The books are in care of bullet

FIRST INTERSTATE BANK FSG Telephone no. bullet

(307) 672-1498

Located at bullet

16 S MAIN STSHERIDANWY ZIP+4 bullet

82801

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 2012, 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 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 (2012)

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 2012?.............

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 2012, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2012?...............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 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 2012 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 2012.)....................

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 2012?

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 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 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 (2012)

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 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
JOHN M PRADERE	VICE PRESIDE 2.00	0	0	0
PO BOX 6085 SHERIDAN,WY82801	VICE PRESIDE 2.00	0	0	0
ROBERT EBERHART	SECY/TREAS 2.00	0	0	0
PO BOX 6085 SHERIDAN,WY82801	SECY/TREAS 2.00	0	0	0
KY DIXON	DIRECTOR 2.00	0	0	0
PO BOX 6085 SHERIDAN,WY82801	DIRECTOR 2.00	0	0	0
RICHARD HAMMER JR	DIRECTOR 2.00	0	0	0
PO BOX 6085 SHERIDAN,WY82801	DIRECTOR 2.00	0	0	0
JACK E PELISSIER	PRESIDENT 3.00	0	0	0
PO BOX 6085 SHERIDAN,WY82801	PRESIDENT 3.00	0	0	0
DEBRA WENDTLAND	DIRECTOR 2.00	0	0	0
PO BOX 6085 SHERIDAN,WY82801	DIRECTOR 2.00	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see 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...................

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
FIRST INTERSTATE BANK	INVESTMENT MGMT	111,128
PO BOX 2007 SHERIDAN,WY82801	INVESTMENT MGMT	111,128

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 (2012)

Page 7

Part IX-B

Summary of Program-Related Investments (see 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 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...................

21,102,932

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

378,527

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

106,849

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

21,588,308

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.........................

21,588,308

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

instructions) .............................

323,825

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

21,264,483

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

1,063,224

Part XI

Distributable Amount (see 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....................

1,063,224

Tax on investment income for 2012 from Part VI, line 5......

11,399

Income tax for 2012. (This does not include the tax from Part VI.)...

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

11,399

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

1,051,825

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

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

1,051,825

Deduction from distributable amount (see instructions).................

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

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

1,051,825

Part XII

Qualifying Distributions (see instructions)

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

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

1,015,467

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

1,015,467

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 instructions).................

11,399

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

1,004,068

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 (2012)

Page 8

Part XIII

Undistributed Income (see instructions)

	(c) 2011	(d) 2012
1 Distributable amount for 2012 from Part XI, line 7		1,051,825
2 Undistributed income, if any, as of the end of 2012:
a Enter amount for 2011 only.......	1,011,557
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2012:
a From 2007.......
b From 2008.......
c From 2009.......
d From 2010.......
e From 2011.......
fTotal of lines 3a through e.........
4Qualifying distributions for 2012 from Part
XII, line 4: $ 1,015,467
a Applied to 2011, but not more than line 2a	1,011,557
b Applied to undistributed income of prior years (Election required—see instructions)......
c Treated as distributions out of corpus (Election required—see instructions).........
d Applied to 2012 distributable amount.....		3,910
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2012.
(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 instructions ...........
e Undistributed income for 2011. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2012. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2013 ..........		1,047,915
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see instructions) .............
8Excess distributions carryover from 2007 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2013. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2008....
b Excess from 2009....
c Excess from 2010....
d Excess from 2011....
e Excess from 2012....

Form 990-PF (2012)

Page 9

Part XIV

Private Operating Foundations (see 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 2012, 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) 2012	(b) 2011	(c) 2010	(d) 2009	(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 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 instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

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

JOE AND ARLENE WATT FOUNDATION
PO BOX 6085
SHERIDAN,WY82801
(307) 672-1498

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

THE APPLICATION SHOULD BE IN WRITTEN FORM AND INCLUDE: 1. NAME, ADDRESS AND TAX ID NUMBER OF THE CHARITY, 2. DOCUMENTARY PROOF OF THE TAX EXEMPT STATUS OF THE CHARITY UNDER SECTION 501(C)(3) OF THE IRC OF 1954, OR AS AMENDED. 3. COPY OF THE MOST RECENT ANNUAL REPORT OF THE CHARITY IN THE FORM REQUIRED OF IT BY APPLICABLE SECTION OF THE INTERNAL REVENUE CODE. 4. DESCRIPTION OF THE CHARITABLE PURPOSE, OR PURPOSES, TO WHICH THE FUNDS FOR WHICH APPLICATION IS BEING MADE SHALL BE PUT.

cAny submission deadlines:

NONE

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

NONE

Form 990-PF (2012)

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
VOLUNTEERS OF AMERICA 1876 S SHERIDAN AVE SHERIDAN,WY82801	NONE	EXEMPT ORG.	UNRESTRICTED	100,000
SHERIDAN SENIOR CENTER 211 SMITH ST SHERIDAN,WY82801	NONE	EXEMPT ORG.	UNRESTRICTED	100,000
SHERIDAN HEALTH CENTER 1428 W 5TH SHERIDAN,WY82801	NONE	EXEMPT ORG.	UNRESTRICTED	55,000
WYO THEATER 42 N MAIN SHERIDAN,WY82801	NONE	EXEMPT ORG.	BUILDING	100,000
SHERIDAN COUNTY MEM HOSPITAL FOUND 1401 W 5TH ST SHERIDAN,WY82801	NONE	EXEMPT ORG.	CANCER CENTER	200,000
SHERIDAN COUNTY YMCA 417 N JEFFERSON SHERIDAN,WY82801	NONE	EXEMPT ORG	UNRESTRICTED	200,000
HABITAT FOR HUMANITY EASTERN BIGHORNS SHERIDAN,WY82801	NONE	EXEMPT ORG	UNRESTRICTED	30,000
TONGUE RIVER VALLEY COMMUNITY CENTER RANCHESTER,WY82839	NONE	EXEMPT ORG	UNRESTRICTED	30,000
UNIVERSITY OF WYOMING 1000 E UNIVERSITY AVE LARAMIE,WY82071	NONE	EXEMPT ORG	UNRESTRICTED	100,000
SHERIDAN COUNTY YMCA 417 N JEFFERSON SHERIDAN,WY82801	NONE	EXEMPT ORG	PROPERTY PURCHASE	100,000
Total ................................. 3a				1,015,000

bApproved for future payment

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

Form 990-PF (2012)

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 instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
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	644,063
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.....			15	27,714
8Gain or (loss) from sales of assets other than inventory			18	581,256
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aOIL LEASE			16	5,223
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				1,258,256

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

131,258,256

(See worksheet in line 13 instructions 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 foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2012)

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

Sign Here

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.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name Firm's address			Firm's EIN
				Phone no.

Form 990-PF (2012)

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
BEGINNING OF YEAR
10,000-GE CAITAL FINANCIAL CD	111,674	110,151
100,000-WELLS FARGO COMPANY	99,691	100,295
200,000-MARSH & MCLENNAN COS INC	202,478	200,974
100,000-GOLDMAN SACHS GROUP INC	101,264	101,169
100,000-LEGGETT & PLATT INC	105,531	100,869
100,000-BANK OF AMERICA CORP	104,951	101,364
100,000-NUCOR CORP	100,000	102,000
200,000-ELECTRONIC DATA SYSTEMS	216,034	205,037
100,000-FIRST DATA CORPORATION	94,787	100,821
100,000-ROYAL BANK OF SCOTLAND PLC	101,122	101,484
70,000-HEWLETT-PACKARD CO	70,000	69,999
65,000-APACHE CORP	72,599	67,470
100,000-GOLDMAN SACHS GROUP INC.	104,429	103,501
100,000-BROWN-FORMAN CORPORATION	101,564	104,829
100,000-DELL INC CORP	101,855	106,146
150,000-GLAXOSMITHKLINE	140,679	157,423
100,000-NORFOLK SOUTHERN CORP	98,587	107,710
250,000-AMERICAN GENERAL FINANCE	250,000	243,496
100,000-CODELCO INC	105,977	106,059
250,000-AMGEN INC	247,558	269,042
50,000-MERCK & CO. INC	46,970	54,504
100,000-BANK OF NY MELLON	109,170	109,029
100,000-KIMBERLY-CLARK CORP	94,737	111,107
100,000-MEDTRONIC INC	92,907	110,810
50,000-BB&T CORPORATION	49,800	53,217
100,000-HARTFORD FINANCIAL GROUP	95,276	111,929
50,000-LILLY ELI & CO	53,925	58,355
100,000-TARGET CORPORATION	99,170	117,712
150,000-GEORGIA POWER COMPANY	149,676	179,944
100,000-NUCOR CORPORATION	103,735	119,964
50,000-GENERAL ELECTRIC CO	55,222	58,957
200,000-DANAHER CORP	204,412	240,540
100,000-PITNEY BOWES INC	102,792	103,752
200,000-MORGAN STANLEY STR 4.0000% 1	192,000	207,420
317,285.27-MASTER ASSET SECURITIZATI	309,353	324,567
29,868.53-RBSGC MTG PASS THRU CERTS	28,898	30,919
22,890.978-OPPENHEIMER INTERNATIONAL	150,000	150,623
11,294.115-TEMPLETON GLOBAL BOND FUN	150,300	150,663
2,500-ISHARES S&P PREF STOCK INDEX F	98,652	99,050

Name of Stock	End of Year Book Value	End of Year Fair Market Value
BEGINNING OF YEAR
3,000-AFLAC INC	121,533	159,357
1,800-APACHE CORPORATION	160,911	141,300
799-APPLE COMPUTER INC	108,312	425,206
5,500-BAKER HUGHES INC	254,118	224,662
5,100-BB&T CORPORATION	160,453	148,461
2,488-BERKSHIRE HATHAWAY INC - CL B	196,851	223,174
2,300-CATERPILLAR INC	122,536	206,100
2,645-CELGENE CORP	218,959	207,553
3,000-CHEVRON CORP	155,436	324,420
8,500-CISCO SYSTEMS INC	127,282	167,020
5,000-COCA COLA COMPANY	110,406	181,250
2,250-COSTCO WHOLESALE CORPORATION	77,765	222,143
2,850-DEERE & COMPANY	180,507	246,297
4,360-DISNEY WALT CO HOLDINGS	129,809	217,084
4,350-DU PONT E I DE NEMOURS & COMPA	208,133	195,656
11,000-EMC CORPORATION	136,532	278,300
3,200-EMERSON ELECTRIC COMPANY	103,182	169,472
5,000-EXELON CORPORATION	194,558	148,700
4,050-EXXON MOBIL CORPORATION	258,108	350,528
4,000-FLUOR CORPORATION	205,864	234,960
11,000-GENERAL ELECTRIC COMPANY	187,390	230,890
1,521-GILEAD SCIENCES INC.	77,166	111,717
250-GOOGLE INC	139,325	176,845
23,500-HUNTINGTON BANCSHARES INC	145,172	150,165
3,250-ILLINOIS TOOL WORKS INC	108,653	197,633
11,987-INTEL CORPORATION	264,331	247,172
1,450-INTERNATIONAL BUSINESS MACHINE	189,887	277,748
4,000-JOHNSON CONTROLS INC	137,042	122,680
11,500-JP MORGAN CHASE & COMPANY	436,727	505,645
3,400-MCDONALDS CORPORATION	221,975	299,914
2,350-MCKESSON CORPORATION	206,631	227,856
5,000-MDU RESOURCES GROUP INC	87,897	106,200
7,000-MICROSOFT CORPORATION	206,468	186,968
6,847-MONDELEZ INTERNATIONAL INC	148,583	174,278
3,200-NEXTERA ENERGY INC	162,084	221,408
4,000-NORTHERN TRUST CORPORATION	205,754	200,640
7,000-ORACLE CORPORATION	78,267	233,240
3,000-PEPSICO INC	161,443	205,290
3,300-PHILIP MORRIS INTERNATIONAL	222,348	276,012
3,200-PROCTER & GAMBLE COMPANY	179,726	217,248
3,300-QUALCOMM INC	133,150	204,137
3,000-SCHLUMBERGER LIMITED	112,513	207,896
3,600-TARGET CORPORATION	175,268	213,012
7,000-U S BANCORP DEL	205,561	223,580
4,600-UNITEDHEALTH GROUP INC	241,498	249,504
2,000-BHP BILLITON LIMITED ADR	143,216	156,840
3,700-ROCHE HOLDINGS LTD SPONS ADR	187,722	185,940
3,500-TEVA PHARMACEUTICAL INDUSTRIES	171,863	130,690
950.932-VANGUARD 500 INDEX FUND - SI	100,000	103,195
8,423.206-LKCM SMALL CAP EQ INSTITUT	152,833	191,123
8,340.727-MRGN STNLY INST MID CAP GR	207,847	278,580
8,582.525-OPPENHEIMER MAIN STREET SM	169,781	207,096
5,145.225-T ROWE PRICE MID CAP GROWT	235,137	290,551
12,153.477-T ROWE PRICE MID CAP VALU	267,740	292,170
11,770.602-AMERICAN EUROPACIFIC GROW	412,502	484,360
7,807.101-HARBOR INTERNATIONAL FUND	342,531	484,977
8,531.423-EATON VANCE PARAMETRIC TAX	342,330	414,457
1,488.095-OPPENHEIMER DEVELOPING MAR	50,000	51,905
2,400-VANGUARD EMERGING MARKETS ETF	95,829	106,872
13,642.564-HARBOR COMMODITY REAL RET	100,000	97,135

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
ACCRUED DIVIDENDS AND INTEREST	4,977	17,198	17,198
ROYALTIES RECEIVABLE	1,383	1,783	1,783

Description	Revenue And Expenses Per Books	Net Investment Income
OIL & GAS ROYALTIES - GROSS	31,062	31,062
O&G PRODUCTION TAXES	-3,348	-3,348
OIL LEASE	5,223

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
SECRETARY OF STATE	25	13	12
EXCISE TAXES	18,500
FOREIGN TAXES ON DIVIDENDS	783	783