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
WELFUND INC
 

Number and street (or P.O. box number if mail is not delivered to street address)152 NORTH ALMONT DRIVE   Room/suite
City or town, state, and ZIP code
WEST HOLLYWOOD, CA900482909
A Employer identification number

95-6091887
B Telephone number (see instructions)

(310) 276-6163
C bullet
G Check all that apply:

D 1. bullet
2. bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$3,020,114J 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 instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 48,593 44,263  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 67,402
b Gross sales price for all assets on line 6a 2,552,311
7 Capital gain net income (from Part IV, line 2)... 8,514
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 2,121 2,121  
12 Total. Add lines 1 through 11........ 118,116 54,898  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 11,904 8,928   2,976
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 4,500 2,250   2,250
c Other professional fees (attach schedule).... Click to see attachment 54,126 54,126    
17 Interest...............        
18 Taxes (attach schedule) (see instructions) Click to see attachment 3,677 638   3,039
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 17 7   10
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 74,224 65,949   8,275
25 Contributions, gifts, grants paid........ 142,000 142,000
26 Total expenses and disbursements. Add lines 24 and 25 216,224 65,949   150,275
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -98,108
b Net investment income (if negative, enter -0-) 0
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 Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 65,322 26,382 26,382
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...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 547,549 Click to see attachment187,355 93,672
c Investments—corporate bonds (attach schedule)........ 2,465,835 Click to see attachment2,762,928 2,900,060
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) Click to see attachment1,108 Click to see attachment5,041  
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,079,814 2,981,706 3,020,114
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 3,079,814 2,981,706
30 Total net assets or fund balances (see page 17 of the
instructions).................... 3,079,814 2,981,706
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 3,079,814 2,981,706
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 3,079,814
2 Enter amount from Part I, line 27a..................... 2 -98,108
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 2,981,706
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 2,981,706
Form 990-PF (2012)
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.)
1a
b
c
d
e
(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
b
c
d
e
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
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 8,514
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 . . . . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2011 148,858 3,045,176 0.048883
2010 143,793 3,246,751 0.044288
2009 144,378 2,889,796 0.049961
2008 209,774 3,469,960 0.060454
2007 181,248 4,048,793 0.044766
2 Total of line 1, column (d) ...................... 2 0.248352
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 0.049670
4 Enter the net value of noncharitable-use assets for 2012 from Part X, line 5..... 4 2,901,514
5 Multiply line 4 by line 3....................... 5 144,118
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6  
7 Add lines 5 and 6......................... 7 144,118
8 Enter qualifying distributions from Part XII, line 4.............. 8 150,275
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)
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 Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 0
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  
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  
6 Credits/Payments:
a 2012 estimated tax payments and 2011 overpayment credited to 2012 6a 2,000
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 2,000
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 2,000
11 Enter the amount of line 10 to be: Credited to 2013 estimated taxBullet2,000 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
 
 
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 instructions)
    bulletCA
    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 2012 or the taxable year beginning in 2012 (see instructions for Part XIV)?
    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 instructions) .............
    11
     
    No
    12
    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).................
    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 ofbulletMURIEL BERGLUND Telephone no.bullet (310) 276-6163
    Located atbullet152 N ALMONT DRIVEWEST HOLLYWOODCA ZIP+4bullet90048
    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 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? .................
    16
     
    No
    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)
    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
    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 2012?.............
    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 2012, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2012?...............
    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 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 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.)....................
    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 2012?
    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 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 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 (2012)
    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
    M ANTHONY KEYSERClick to see attachment VICE PRESIDE
    1.00     		0 0 0
    12659 SHORE STREET
    LEAVENWORTH,WA98826
    WYLIE G BURKEClick to see attachment PRESIDENT
    1.00     		0 0 0
    6140 EAST MERCER WAY
    MERCER ISLAND,WA98040
    BERTHA H BRILEYClick to see attachment SEC/TREASURE
    1.00     		11,904 0 0
    1741 CENTRAL AVENUE SW
    LE MARS,IA51031
    MARY ANNE KEYSERClick to see attachment DIRECTOR
    1.00     		0 0 0
    505 BROADWAY EAST UNIT 515
    SEATTLE,WA98102
    FRANK J BARONClick to see attachment DIRECTOR
    1.00     		0 0 0
    6140 EAST MERCER WAY
    MERCER ISLAND,WA98040
    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...................bullet  
    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
    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 THE FOUNDATION'S ONLY ACTIVITY IS TO MAKE CHARITABLE CONTRIBUTIONS FROM ITS INVESTMENT INCOME. QUALIFYING DONEES MAY BE ENGAGED IN RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL WORK. A LIST OF THE GRANTS AND DONATIONS MADE IS ATTACHED. 8,297
    2  
    3  
    4  
    Form 990-PF (2012)
    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.)
    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
    2,898,698
    b
    Average of monthly cash balances.......................
    1b
    45,852
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,150
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,945,700
    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
    2,945,700
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see
    instructions) .............................
    4
    44,186
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    2,901,514
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    145,076
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    145,076
    2a
    Tax on investment income for 2012 from Part VI, line 5......
    2a
     
    b
    Income tax for 2012. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    145,076
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    145,076
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    145,076
    Part XII
    Qualifying Distributions (see 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
    150,275
    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
    150,275
    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 instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    150,275
    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)
    Form 990-PF (2012)
    Page 8
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2011     		(c)
    2011     		(d)
    2012
    1 Distributable amount for 2012 from Part XI, line 7 145,076
    2 Undistributed income, if any, as of the end of 2012:
    a Enter amount for 2011 only....... 141,576
    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: bullet$ 150,275
    a Applied to 2011, but not more than line 2a 141,576
    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..... 8,699
    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 ..........     		136,377
    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)
    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 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) 2012 (b) 2011 (c) 2010 (d) 2009
             
    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
    aThe name, address, and telephone number or e-mail of the person to whom applications should be addressed:
    WELFUND INC
    152 N ALMONT DRIVE
    WEST HOLLYWOOD,CA900482909
    (310) 276-6163
    bThe form in which applications should be submitted and information and materials they should include:
    NONE SPECIFIED
    cAny submission deadlines:
    NONE SPECIFIED
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE SPECIFIED
    Form 990-PF (2012)
    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)
    aPaid during the year
    ALLIANCE FOR JUSTICE
    11 DUPONT CIRCLE
    WASHINGTON,DC200361207     		    EDUCATIONAL 2,000
    BARN BEACH RESERVE
    347 DIVISION STREET
    LEAVENWORTH,WA98826     		    CHARITABLE 5,000
    CASCADE MEDICAL CTR FOUNDATION
    817 COMMERCIAL ST
    LEAVENWORTH,WA98168     		    CHARITABLE 2,600
    BELLEVUE BOTANICAL GARDEN
    12001 MAIN STREET
    BELLEVUE,WA98005     		    CHARITABLE 10,000
    CENTER FOR WOODEN BOATS
    1010 VALLEY STREET
    SEATTLE,WA98109     		    CHARITABLE 10,000
    CHILD AID
    917 SW OAK STREET 312
    PORTLAND,OR97205     		    CHARITABLE 2,000
    CHRISTIAN NEEDS CENTER
    900 6TH STREET SW
    LE MARS,IA51031     		    CHARITABLE 2,000
    DERMATOLOGY FOUNDATION
    1500 SHERMAN AVENUE
    EVANSTON,IL602014808     		    CHARITABLE 1,500
    EVERETT GOSPEL MISSION
    2222 52ND ST SE
    EVERETT,WA98203     		    CHARITABLE 2,000
    FIRST CHURCH OF CHRIST SCIENTISTS
    210 MASSACHUSETTS AVE
    BOSTON,MA02115     		    CHARITABLE 4,000
    FIFTH CHURCH OF CHRIST SCIENTIST
    7107 HOLLYWOOD BOULEVARD
    LOS ANGELES,CA90046     		    CHARITABLE 5,000
    FLOYD VALLEY HOSPITAL
    714 LINCOLN ST NE
    LE MARS,IA51031     		    CHARITABLE 10,000
    GRACE LUTHERAN CHURCH
    1430 SEVENTH AVE SE
    LE MARS,IA51031     		    CHARITABLE 2,800
    HEIFER INTERNATIONAL
    PO BOX 8058
    LITTLE ROCK,AR722038058     		    CHARITABLE 500
    HOSPICE OF SIOUXLAND
    4300 HAMILTON BLVD
    SIOUX CITY,IA51104     		    CHARITABLE 1,000
    KLINE GALLAND CENTER
    7500 SEWARD PARK AVE
    SEATTLE,WA98188     		    CHARITABLE 1,000
    LEAVENWORTH SKI HILL HERITAGE
    PO BOX 54
    LEAVENWORTH,WA98826     		    CHARITABLE 16,000
    MARY BAKER EDDY LIBRARY
    200 MASSACHUSETTS AVENUE
    BOSTON,MA02115     		    CHARITABLE 1,000
    MERCER ISLAND SCHOOLS FOUNDATION
    PO BOX 1243
    MERCER ISLAND,WA98040     		    EDUCATIONAL 500
    MISSISSIPPI CENTER FOR JUSTCE
    736 N CONGRESS STREET
    JACKLSON,MS392151023     		    CHARITABLE 5,000
    MOSES LAKE POLICE DEPARTMENT
    PO DRAWER 1579
    MOSES LAKE,WA98837     		    CHARITABLE 1,500
    NATIONAL CANCER COALITION
    333 FAYETTEVILLE DR 100
    RALEIGH,NC27601     		    CHARITABLE 500
    NATIONAL MULTIPLE SCLEROSIS SOCIETY
    8187 UNIVERSITY BLVD 6
    DES MOINES,IA50325     		    CHARITABLE 2,500
    ODC SAN FRANCISCO
    3153 17TH STREET
    SAN FRANCISCO,CA94110     		    CHARITABLE 1,500
    OBERLIN COLLEGE
    108 BOSWORTH HALL
    50 WEST LORAIN STREET
    OBERLIN,OH440741089     		    EDUCATIONAL 30,000
    PRIDE FOUNDATION
    1122 E PIKE STREET
    PMB 1001
    SEATTLE,WA98122     		    CHARITABLE 3,000
    PXE INTERNATIONAL INC
    4301 CONNECTICUT AVE NW
    SUITE 404
    WASHINGTON,DC200082369     		    RESEARCH 500
    THE SCHOOL OF AMERICAN BALLET
    70 LINCOLN CENTER PLAZA
    NEW YORK,NY100236592     		    CHARITABLE 1,000
    THE SUNI PROJECT
    1723 WELLS
    ANN ARBOR,MI48104     		    ARTS & CULTURE 1,500
    UNIVERSITY OF WASHINGTON FOUNDATION
    1200 FIFTH AVE
    SUITE 500
    SEATTLE,WA98101     		    EDUCATIONAL 5,600
    WESTMINISTER COLLEGE
    1840 SOUTH 1300 EAST
    SALT LAKE CITY,UT84105     		    EDUCATIONAL 10,000
    WOMEN'S FUNDING ALLIANCE
    603 STEWART STREET
    SUITE 207
    SEATTLE,WA98101     		    CHARITABLE 500
    Total .................................bullet 3a 142,000
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2012)
    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
    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....         48,593
    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.....         2,121
    8Gain or (loss) from sales of assets other than inventory         67,402
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..     118,116
    13Total. Add line 12, columns (b), (d), and (e)..................
    13118,116
    (See worksheet in line 13 instructions 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 foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    3 INCOME FROM ACTIVITIES ON LINES 3,4,7 & 8 ARE DERIVED
    4 FROM VARIOUS INVESTMENTS OF THE FOUNDATION'S ASSETS.
    7 IT IS THE FOUNDATION'S ONLY SOURCE OF INCOME THAT IS USED
    8 TO MAKE CHARITABLE CONTRIBUTIONS.
    Form 990-PF (2012)
    Form 990-PF (2012)
    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
    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.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2012)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2012 AccountingFeesSchedule
    Name:
    WELFUND INC
    EIN: 95-6091887
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION 4,500 2,250   2,250

    TY 2012 CompensationExplanation
    Name:
    WELFUND INC
    EIN: 95-6091887
    Person Name Explanation
    M ANTHONY KEYSER  
    WYLIE G BURKE  
    BERTHA H BRILEY  
    MARY ANNE KEYSER  
    FRANK J BARON  

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2012 GainLossSaleOtherAssetsSch
    Name:
    WELFUND INC
    EIN: 95-6091887
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    ALGER SMIDCAP GROWTH CL I 2011-08 PURCHASE 2012-02   43,081 33,233     9,848  
    ALGER SMIDCAP GROWTH CL I 2011-08 PURCHASE 2012-04   3,510 2,780     730  
    BLACKROCK EQUITY DIVIDEND FD 2011-03 PURCHASE 2012-03   3,547 3,259     288  
    COHEN STEERS REALTY SHARES 2011-03 PURCHASE 2012-03   110,369 106,460     3,909  
    COLUMBIA SELECT LARGE CAP CL Z 2011-07 PURCHASE 2012-02   46,765 46,363     402  
    COLUMBIA SELECT LARGE CAP CL Z 2011-07 PURCHASE 2012-03   32,164 31,326     838  
    COLUMBIA SELECT LARGE CAP CL Z 2011-07 PURCHASE 2012-04   3,040 3,031     9  
    EATON VANCE FLOATING RATE FD 2011-04 PURCHASE 2012-01   113,234 116,170     -2,936  
    EATON VANCE FLOATING RATE FD 2012-02 PURCHASE 2012-04   9,723 9,669     54  
    EATON VANCE FLOATING RATE FD 2012-02 PURCHASE 2012-05   139,497 139,809     -312  
    ISHARES S&P GLOBAL INFORMATION 2011-03 PURCHASE 2012-02   16,231 14,393     1,838  
    ISHARES S&P GLOBAL ENERGY 2011-03 PURCHASE 2012-03   90,632 91,567     -935  
    JANUS FORTY FUND CL I 2011-03 PURCHASE 2012-02   45,037 40,764     4,273  
    JANUS FORTY FUND CL I 2011-03 PURCHASE 2012-03   31,888 28,655     3,233  
    JANUS FORTY FUND CL I 2011-05 PURCHASE 2012-04   3,064 2,925     139  
    LORD ABBETT AFFILIATED FD 2011-03 PURCHASE 2012-03   14,832 14,907     -75  
    NEUBERGER BERMAN INTRINSIC VALUE 2011-07 PURCHASE 2012-02   16,013 17,782     -1,769  
    NEUBERGER BERMAN INTRINSIC VALUE 2011-07 PURCHASE 2012-04   1,179 1,363     -184  
    ROYCE MICOR CAP FUND INV CL 2011-03 PURCHASE 2012-02   16,778 18,018     -1,240  
    SPDR SER TR BARCLAYS 1-3 MO T-BILL 2012-01 PURCHASE 2012-04   36,152 36,156     -4  
    SPDR SER TR BARCLAYS 1-3 MO T-BILL 2012-01 PURCHASE 2012-05   123,711 123,728     -17  
    SCHRODER EMERGING MKT EQUITY FD 2011-10 PURCHASE 2012-02   27,422 25,571     1,851  
    SCHRODER EMERGING MKT EQUITY FD 2011-10 PURCHASE 2012-04   4,345 4,178     167  
    MATERIALS SELECT SECTOR SPDR FD 2011-07 PURCHASE 2012-01   28,941 30,806     -1,865  
    MATERIALS SELECT SECTOR SPDR FD 2011-07 PURCHASE 2012-02   28,789 29,608     -819  
    MATERIALS SELECT SECTOR SPDR FD 2011-07 PURCHASE 2012-04   1,153 1,237     -84  
    SEL SECT SPDR CONS DESCRETION CONSUM 2011-10 PURCHASE 2012-01   85,144 82,946     2,198  
    SELECT SECTOR SPDR INDUSTRIAL 2011-07 PURCHASE 2012-01   175,521 168,602     6,919  
    SELECT SECTOR SPDR FINANCIAL 2011-10 PURCHASE 2012-02   59,698 55,083     4,615  
    SELECT SECTOR SPDR TECHNOLOGY 2011-03 PURCHASE 2012-02   16,514 14,198     2,316  
    TOUCHSTONE SANDS CAP SEL GROWTH 2011-05 PURCHASE 2012-03   8,506 7,409     1,097  
    TOUCHSTONE SANDS CAP SEL GROWTH 2011-05 PURCHASE 2012-04   3,544 3,135     409  
    VANGUARD ENERGY ETF 2011-05 PURCHASE 2012-02   27,314 27,918     -604  
    VANGUARD ENERGY ETF 2011-05 PURCHASE 2012-03   117,442 122,518     -5,076  
    VIRTUS MULTI-SECT SHORT TERM FD 2011-07 PURCHASE 2012-02   27,806 27,606     200  
    VIRTUS MULTI-SECT SHORT TERM FD 2011-07 PURCHASE 2012-04   6,927 6,863     64  
    ALLIANCEBERNSTEIN SMALL-MID CAP VALU 2010-10 PURCHASE 2012-02   25,965 23,995     1,970  
    ALLIANCEBERNSTEIN SMALL-MID CAP VALU 2010-10 PURCHASE 2012-04   3,251 3,112     139  
    BLACKROCK HIGH YIELD BOND PORT 2010-07 PURCHASE 2012-04   11,603 10,911     692  
    BLACKROCK EQUITY DIVIDEND FUND 2010-10 PURCHASE 2012-02   35,884 30,772     5,112  
    BLACKROCK EQUITY DIVIDEND FUND 2010-11 PURCHASE 2012-03   12,451 10,547     1,904  
    BLACKROCK EQUITY DIVIDEND FUND 2011-03 PURCHASE 2012-04   3,347 3,119     228  
    COHEN STEERS REALTY SHARES 2010-11 PURCHASE 2012-02   56,397 48,462     7,935  
    COHEN STEERS REALTY SHARES 2010-11 PURCHASE 2012-03   43,271 36,084     7,187  
    ISHARES S&P GLOBAL INFORMATION 2011-03 PURCHASE 2012-04   3,693 3,298     395  
    ISHARES S&P GLBL ENERGY SECTOR 2010-07 PURCHASE 2012-02   31,691 26,086     5,605  
    ISHARES S&P GLBL ENERGY SECTOR 2010-10 PURCHASE 2012-03   27,202 23,105     4,097  
    LORD ABBETT AFFILIATED FD 2010-10 PURCHASE 2012-02   43,309 39,223     4,086  
    LORD ABBETT AFFILIATED FD 2010-11 PURCHASE 2012-03   960 867     93  
    LORD ABBETT AFFILIATED FD 2011-03 PURCHASE 2012-04   2,794 2,887     -93  
    LORD ABBETT DEVELOPING GROWTH FD 2010-12 PURCHASE 2012-02   31,768 30,239     1,529  
    LORD ABBETT DEVELOPING GROWTH FD 2010-12 PURCHASE 2012-04   3,440 3,374     66  
    SELECT SECTOR SPDR TECHNOLOGY 2011-03 PURCHASE 2012-04   3,856 3,313     543  
    TOUCHSTONE SANDS CAP SEL GROWTH 2010-12 PURCHASE 2012-02   48,494 41,226     7,268  
    TOUCHSTONE SANDS CAP SEL GROWTH 2011-01 PURCHASE 2012-03   23,295 19,724     3,571  
    VANGUARD MATERIALS ETF 2010-10 PURCHASE 2012-01   27,809 25,907     1,902  
    VANGUARD MATERIALS ETF 2010-11 PURCHASE 2012-02   30,132 27,199     2,933  
    VANGUARD MATERIALS ETF 2010-11 PURCHASE 2012-04   1,600 1,499     101  
    SEL SECT SPDR CONS DESCRETION CONSUM 2012-05 PURCHASE 2012-07   82,989 81,994     995  
    SELECT SECTOR SPDR INDUSTRIAL 2012-05 PURCHASE 2012-07   82,565 81,754     811  
    NEUBERGER BERMAN INTRINSIC VALUE 2012-01 PURCHASE 2012-07   6,444 6,398     46  
    ROYCE MICRO CAP 2012-01 PURCHASE 2012-07   5,324 5,547     -223  
    ALLIANCEBERNSTEIN SMALL CAP VALUE 2011-07 PURCHASE 2012-07   29,561 32,456     -2,895  
    NEUBERGER BERMAN INTRINSIC VALUE 2011-07 PURCHASE 2012-07   34,559 41,287     -6,728  
    SCHRODER EMERG MKT EQUITY INV 2011-10 PURCHASE 2012-07   14,719 14,999     -280  
    SPDR GOLD TR GOLD SHARES 2012-02 PURCHASE 2012-07   79,671 89,825     -10,154  
    VIRTUS INSIGHT EMERGING MKTS I 2011-07 PURCHASE 2012-07   16,044 16,436     -392  
    ALLIANCEBERNSTEIN SMALL CAP VALUE 2010-11 PURCHASE 2012-07   52,402 55,752     -3,350  
    BLACKROCK EQUITY DIVIDEND FUND 2011-03 PURCHASE 2012-07   15,045 14,041     1,004  
    LORD ABBETT AFFILIATED FD 2011-03 PURCHASE 2012-07   14,368 15,315     -947  
    LORD ABBETT DEVELOPING GROWTH FD 2010-12 PURCHASE 2012-07   84,052 82,055     1,997  
    ROYCE MICRO CAP 2010-03 PURCHASE 2012-07   34,313 42,055     -7,742  
    KRAFT FOODS GROUP 2010-05 PURCHASE 2012-10   16 10     6  

    TY 2012 InvestmentsCorpBondsSchedule
    Name:
    WELFUND INC
    EIN: 95-6091887
    Name of Bond End of Year Book Value End of Year Fair Market Value
    SEL SECT SPDR CONSUMER DISCRETIONARY    
    SELECT SECTOR SPDR TR FINANCIAL    
    SELECT SECTOR SPDR INDUSTRIAL    
    SELECT SECTOR SPDR TECHNOLOGY    
    VANGUARD ENERGY ETF    
    ALLIANCEBERNSTEIN SMALL-MID CAP VALU    
    EATON VANCE FLOAT RATE FD CL I    
    NEUBERGER BERMAN INTRINSIC VALUE FD    
    ROYCE MICOR-CAP FUND INV CLASS    
    BLACKROCK EQUITY DIVIDEND FD CL INST 66,660 71,853
    ALGER SMIDCAP GROWTH FD CL I 68,494 84,669
    LORD ABBETT AFFILIATED FD CL F 69,860 74,639
    TOUCHSTONE SANDS CAP SELECT GRWTH CL 77,010 86,981
    TECHNOLOGY SEL SEC SPDR FD 77,175 84,155
    JANUS FORTY FUND CL I 79,618 89,966
    ISHARES S&P GLOBAL INFO TECH SECTOR 81,067 88,176
    COLUMBIA SELECT LARGE CAP FD CL Z 81,453 89,724
    COHEN STEERS REALTY SHARES FD 84,106 79,466
    VANGUARD MATERIALS ETF 84,211 90,610
    MATERIALS SELECT SECTOR SPDR FD 86,948 89,233
    SCHRODER EMERGING MKT EQUITY FD INVE 97,601 111,471
    VIRTUS EMERGING MKTS OPP FD CL I 97,673 106,982
    ALLIANCE BERNSTEIN GLOBAL BOND 112,142 112,403
    PRUDENTIAL JENNISSON NAT RES Z 188,406 178,695
    LORD ABBETT EMERG MKTS CURR F 192,226 203,391
    WESTERN ASSET MUNI HIGH INC I 224,283 227,453
    ISHARES S&P GLOBAL ENERGY INDEX FD 240,908 262,127
    BLACKROCK HIGH YIELD BOND PRT INSTL 276,465 291,596
    SPDR BARCLAYS CAPITAL 1-3 MO 476,622 476,470

    TY 2012 InvestmentsCorpStockSchedule
    Name:
    WELFUND INC
    EIN: 95-6091887
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ALCOA INC 83,369 43,400
    ASHLAND INC NEW 1,110 4,985
    KRAFT FOODS INC CL A 246 364
    CREE INC 16,142 8,495
    US STEEL CORP NEW 85,997 35,775
    MONDELEZ INTL INC 474 636
    WESTERN ASSET GOVT RESERVE FD 17 17
    MUTUAL MONEY CD FUND    

    TY 2012 OtherAssetsSchedule
    Name:
    WELFUND INC
    EIN: 95-6091887
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PLAINS E & P OIL ROYALTY INTEREST 1,108 1,152  
    DIVIDENDS RECEIVABLE   3,936  
    ROUNDING ERROR   -47  


    TY 2012 OtherExpensesSchedule
    Name:
    WELFUND INC
    EIN: 95-6091887
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    OIL ROYALTY EXPENSE 7 7    
    NOTARY FEE 10     10


    TY 2012 OtherIncomeSchedule2
    Name:
    WELFUND INC
    EIN: 95-6091887
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ALGER SMID REBATES 210 210  
    MISCELLANEOUS INCOME 66 66  
    OTHER DIVIDENDS 1,738 1,738  
    PLAINS EXPLORATION & PRODUCT 107 107  


    TY 2012 OtherProfessionalFeesSchedule
    Name:
    WELFUND INC
    EIN: 95-6091887
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MORGAN STANLEY SMITH BARNEY 54,126 54,126    


    TY 2012 TaxesSchedule
    Name:
    WELFUND INC
    EIN: 95-6091887
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    REGISTRY OF CHARITABLE TRUSTS 50     50
    CALIFRONIA FRANCHISE FEE 10 10    
    FOREIGN TAX WITHHOLDING 628 628    
    FEDERAL EXCISE TAX - 2011 1,303     1,303
    FEDERAL EXCISE TAX - 2012 1,686     1,686