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
The Gerald and Susan Schwalbach Family Foundation
 

Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd   Room/suite
City or town, state, and ZIP code
Wilmington, DE198091377
A Employer identification number

20-4822291
B Telephone number (see instructions)

(800) 839-1754
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$4,683,213J 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...... 107,176 107,176  
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 130,391
b Gross sales price for all assets on line 6a 1,385,649
7 Capital gain net income (from Part IV, line 2)... 130,391
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 12,798 12,370  
12 Total. Add lines 1 through 11........ 250,365 249,937  
Operating and Administrative Expenses 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).......        
c Other professional fees (attach schedule).... Click to see attachment 37,612 37,612    
17 Interest...............        
18 Taxes (attach schedule) (see instructions) Click to see attachment 4,035 908    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 856     856
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 33,958 9,237   24,721
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 76,461 47,757   25,577
25 Contributions, gifts, grants paid........ 330,759 330,759
26 Total expenses and disbursements. Add lines 24 and 25 407,220 47,757   356,336
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -156,855
b Net investment income (if negative, enter -0-) 202,180
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.......... 262,873 273,765 273,765
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) 73,410 57,570 58,279
b Investments—corporate stock (attach schedule)........ 3,631,838 Click to see attachment3,501,424 3,838,677
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 486,499 Click to see attachment465,006 512,492
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,454,620 4,297,765 4,683,213
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 4,454,620 4,297,765
30 Total net assets or fund balances (see page 17 of the
instructions).................... 4,454,620 4,297,765
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 4,454,620 4,297,765
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 4,454,620
2 Enter amount from Part I, line 27a..................... 2 -156,855
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 4,297,765
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 4,297,765
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.)
1 a Publicly-traded Securities      
b Passthrough K1 Capital Gain      
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 1,385,649   1,287,678 97,971
b       32,420
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       97,971
b       32,420
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 2 130,391
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 344,714 4,691,748 000.073472
2010 289,663 4,649,038 000.062306
2009 255,399 4,464,161 000.057211
2008 243,821 4,933,097 000.049426
2007 58,171 5,579,678 000.010426
2 Total of line 1, column (d) ...................... 2 000.252841
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. . . 		3 000.050568
4 Enter the net value of noncharitable-use assets for 2012 from Part X, line 5..... 4 4,476,312
5 Multiply line 4 by line 3....................... 5 226,358
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,022
7 Add lines 5 and 6......................... 7 228,380
8 Enter qualifying distributions from Part XII, line 4.............. 8 356,336
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 2,022
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 2,022
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 2,022
6 Credits/Payments:
a 2012 estimated tax payments and 2011 overpayment credited to 2012 6a 3,071
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.............. Tax Paid Original Return: 3071 7 3,071
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 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 1,049
11 Enter the amount of line 10 to be: Credited to 2013 estimated taxBullet1,049 Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bullet
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 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 addressbullet  
    14
    The books are in care ofbulletco Foundation Source Telephone no.bullet (800) 839-1754
    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    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
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 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
    Brian A Schwalbach Dir / Sec
    001.00     		0    
    Foundation Source 501 Silverside Rd
    Wilmington,DE19809
    Gerald A Schwalbach Dir
    001.00     		0    
    Foundation Source 501 Silverside Rd
    Wilmington,DE19809
    Mari M Schwalbach VP / Dir
    001.00     		0    
    Foundation Source 501 Silverside Rd
    Wilmington,DE19809
    Nathan P Schwalbach Dir / Treas
    001.00     		0    
    Foundation Source 501 Silverside Rd
    Wilmington,DE19809
    Susan J Schwalbach Pres / Dir
    001.00     		0    
    Foundation Source 501 Silverside Rd
    Wilmington,DE19809
    Winsome Y Schwalbach VP / Dir
    001.00     		0    
    Foundation Source 501 Silverside Rd
    Wilmington,DE19809
    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
     
    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
     
    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)
    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  
    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
    3,775,025
    b
    Average of monthly cash balances.......................
    1b
    257,709
    c
    Fair market value of all other assets (see instructions)................
    1c
    511,745
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,544,479
    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
    4,544,479
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see
    instructions) Click to see attachment.............................
    4
    68,167
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,476,312
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    223,816
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    223,816
    2a
    Tax on investment income for 2012 from Part VI, line 5......
    2a
    2,022
    b
    Income tax for 2012. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,022
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    221,794
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    221,794
    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
    221,794
    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 Click to see attachment..........
    1a
    356,336
    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
    356,336
    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
    2,022
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    354,314
    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 7 221,794
    2 Undistributed income, if any, as of the end of 2012:
    a Enter amount for 2011 only....... 17,122
    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$ 356,336
    a Applied to 2011, but not more than line 2a 17,122
    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..... 221,794
    e Remaining amount distributed out of corpus 117,420
    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 5 117,420
    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 ..........     		0
    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 ......     		117,420
    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.... 117,420
    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).)
    Gerald A Schwalbach
    Susan J Schwalbach
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (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
    BRECK SCHOOL
    123 OTTAWA AVE N
    MINNEAPOLIS,MN55422     		N/A 509a1 General Unrestricted 196,759
    CARMEN PAMPA FUND
    1821 UNIVERSITY AVE STE S-21
    ST PAUL,MN55104     		N/A 509a1 General Unrestricted 1,000
    LITTLE BIT THERAPEUTIC RIDING CENTER
    19802 NE 148TH ST
    WOODINVILLE,WA98077     		N/A 509a1 Sponsor a Horse Program 4,000
    NATIONAL CERVICAL CANCER COALITION
    PO BOX 13827
    RESEARCH TRIANGLE PARK,NC27709     		N/A 509a1 General Unrestricted 1,000
    OREGON EPISCOPAL SCHOOL
    6300 SW NICOL RD
    PORTLAND,OR97223     		N/A 509a1 General Unrestricted 25,000
    PCC FARMLAND TRUST
    1917 1ST AVE LEVEL A STE 100
    SEATTLE,WA98101     		N/A 509a1 General Unrestricted 1,500
    SEATTLE TILTH ASSOCIATION INC
    4649 SUNNYSIDE AVE N STE 100
    SEATTLE,WA98103     		N/A 509a1 General Unrestricted 500
    SLOW FOOD U S A INC
    68 SUMMIT ST
    BROOKLYN,NY11231     		N/A 509a1 General Unrestricted 1,500
    ST ANDREW NATIVITY SCHOOL
    4925 NE 9TH AVE
    PORTLAND,OR97211     		N/A 509a1 General Unrestricted 10,000
    THE LION FOUNDATION
    4111 E MADISON ST STE 76
    SEATTLE,WA98112     		N/A 509a1 Molapo Relocation Project 55,000
    VISITATION MONASTERY OF MINNEAPOLIS
    1527 FREMONT AVE N
    MINNEAPOLIS,MN55411     		N/A 509a1 General Unrestricted 34,500
    Total .................................bullet 3a 330,759
    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....     14 107,176  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory     18 130,391  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aK-1 Inc/Loss 525990 428 14 12,370  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 428 249,937  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13250,365
    (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.)
    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: 12000057
    Software Version: 12.19.1011.1
    Part VI Line 7 - Tax Paid Original Return: 3071


    Form 990PF - Special Condition Description:
    Special Condition Description

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

    TY 2012 GainLossSaleOtherAssetsSch
    Name:
    The Gerald and Susan Schwalbach Family Foundation
    EIN: 20-4822291
    Software ID:12000057
    Software Version:12.19.1011.1
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    Publicly-traded Securities         1,385,649 1,287,678     97,971  
    Passthrough K1 Capital Gain                 32,420  

    TY 2012 GeneralExplanationAttachment
    Name:
    The Gerald and Susan Schwalbach Family Foundation
    EIN: 20-4822291
    Software ID:12000057
    Software Version:12.19.1011.1
    Identifier Return Reference Explanation

    TY 2012 InvestmentsCorpStockSchedule
    Name:
    The Gerald and Susan Schwalbach Family Foundation
    EIN: 20-4822291
    Software ID:12000057
    Software Version:12.19.1011.1
    Name of Stock End of Year Book Value End of Year Fair Market Value
    149 shares of 3M CO 11,992 13,835
    32 shares of ABBOTT LABS 1,990 2,096
    297 shares of ABERDEEN ASSET MANAGEMENT PLC 1,395 1,723
    907 shares of ABSOLUTE STRATEGIES INSTITUTIONAL 10,000 10,050
    182 shares of ACE LTD 11,289 14,524
    19 shares of ACTELION N 1,008 902
    26 shares of ADOBE SYSTEMS, INC. 652 980
    55 shares of AETNA INC. 1,912 2,547
    130 shares of AIA GROUP LTD ADR 1,611 2,058
    16 shares of ALBEMARLE CP 935 994
    788 shares of ALERIAN MLP ETF 13,298 12,569
    26 shares of ALEXANDRIA REAL ESTATE EQUITIES INC 1,360 1,802
    27 shares of ALEXION PHARMACEUTICALS, INC. 1,551 2,531
    36 shares of ALLERGAN INC. 3,351 3,302
    1823 shares of ALLIANZ FIXED INCOME SHARES SERIES C 21,942 24,611
    2233 shares of ALLIANZ FIXED INCOMESHARES SERIES M 24,188 25,054
    55 shares of ALLSTATE CORP 1,731 2,209
    47 shares of ALTERA CORPORATION 1,615 1,616
    374 shares of ALTRIA GROUP INC 10,042 11,759
    12 shares of AMAZON COM 2,867 3,010
    56 shares of AMERICAN ELECTRIC POWER INC. 2,319 2,390
    112 shares of AMERIPRISE FINANCIAL INC 5,980 7,015
    25 shares of AMERISOURCEBERGEN CORP 1,003 1,080
    18 shares of AMPHENOL CORPORATION 439 1,165
    332 shares of ANALOG DEVICES INC. 11,484 13,964
    73 shares of ANHEUSER BUSCH COS INC 5,346 6,381
    128 shares of ANNALY MTG MGMT INC 1,935 1,797
    21 shares of APPLE INC. 3,836 11,176
    628 shares of AQR MANAGED FUTURES FUND CL I 6,000 6,137
    47 shares of ASSOCIATED BRITISH FOODS PLC 843 1,198
    888 shares of ASTON OPTIMUM MID CAP FUND CLASS I 26,963 30,044
    93 shares of ASTRAZENECA 4,283 4,396
    427 shares of ATT CORP 12,433 14,394
    2 shares of AUTOZONE INC 755 709
    11 shares of AVALONBAY CMNTYS INC 1,311 1,491
    400 shares of BANGKOK BANK PUBLIC CO. LTD 1,978 2,520
    400 shares of BANGKOK DUSIT MEDICAL SVC 672 1,520
    279 shares of BANK OF HAWAII CORP 11,107 12,290
    225 shares of BANK OF MONTREAL 13,525 13,793
    232 shares of BANK OF NOVA SCOTIA 13,168 13,428
    85 shares of BARRICK GOLD CORP 3,700 2,976
    25 shares of BAYER A G SPONSORED ADR 1,720 2,398
    22 shares of BE AEROSPACE, INC. 641 1,087
    80 shares of BELLE INTL HLDG ADR 1,260 1,766
    41 shares of BERKLEY W R CP 1,004 1,547
    45 shares of BHP BILLITON LIMITED 3,417 3,529
    500 shares of BIOSTIME INTERNATIONAL HOLDINGS 789 1,535
    1708 shares of BLACKROCK EQ DIVIDEND I 30,000 34,034
    4524 shares of BLACKROCK HIGH YIELD BOND INSTITUTIONAL CLASS 32,715 36,596
    303 shares of BOSTON SCIENTIFIC 2,170 1,736
    9 shares of BRENNTAG AG 1,088 1,196
    23 shares of BRITISH AMERICAN TOBACCO PLC 1,352 2,329
    78 shares of BROADCOM CORPORATION 2,525 2,590
    380 shares of BT GROUP PLC ADS 12,857 14,451
    77 shares of CA INC. 2,015 1,692
    53 shares of CALPINE CORP 898 961
    17 shares of CAMDEN PPTY TR 993 1,160
    42 shares of CAMERON INTERNATIONAL CORP 1,917 2,371
    43 shares of CAPITAL ONE FINANCIAL CORP 2,564 2,491
    19 shares of CARPENTER TECH 923 981
    76 shares of CBS CORP CL B 2,784 2,892
    29 shares of CELANESE CORPORATION 1,296 1,291
    116 shares of CENTRICA PLC S/ADR 2,250 2,552
    339 shares of CENTURY LINK INC 11,655 13,262
    17 shares of CHECK POINT SOFTWARE TECHNOLOGIES LTD 913 810
    146 shares of CHEVRON CORP 14,218 15,788
    35 shares of CHINA MOBILE HGK LTD 1,762 2,055
    4 shares of CHIPOLTE MEX GRILL 989 1,190
    195 shares of CHUBB CORP 11,708 14,687
    17 shares of CHURCH DWIGHT 899 911
    121 shares of CISCO SYSTEMS INC 2,002 2,378
    26 shares of CIT GROUP INC 938 1,005
    21 shares of CMS ENERGY CP 333 512
    35 shares of COCA COLA ENTRPR INC 995 1,111
    50000 shares of COLE CREDIT PROPERTY TRUST III, INC. 473,916 499,999
    2220 shares of COLUMBIA FDS SER TR II MASS ASIA PC JP R5 24,019 29,012
    917 shares of COLUMBIA FDS SRS TR COLUMBIA SMALLCAP VAL II Z 12,500 13,612
    88 shares of COMPASS GROUP PLC ADR 827 1,054
    12 shares of CONCHO RESOURCES INC 1,002 967
    319 shares of CONOCOPHILLIPS 16,164 18,499
    32 shares of CONSTELLATION BRANDS INC 687 1,132
    65 shares of CROWN CASTLE INTL 3,527 4,690
    29 shares of CUMMINS INC 2,442 3,142
    15 shares of CYTEC IND INC 968 1,032
    50 shares of D R HORTON 997 989
    50 shares of DAIICHI SANKYO CO LTD SPONSORED ADR LEVEL 1 830 762
    73 shares of DANAHER CORP 3,794 4,081
    2833 shares of DFA EMERGING MARKETS CORE EQ PRTFL MUTUAL FUND 60,843 57,800
    8331 shares of DFA GLOBAL REAL ESTATE SECURITIES PTF 72,624 75,066
    15702 shares of DFA INTERNATIONAL CORE EQUITY FD 172,633 167,380
    12760 shares of DFA INVESTMENT GRADE PORTFOLIO 132,534 139,084
    15258 shares of DFA INVT DIMENSIONS GROUP INC U S CORE EQUITY 2 176,118 185,838
    400 shares of DIAGEO PLC ADS 23,052 46,632
    19 shares of DNB NOR ASA SPONSOR ADR 2,476 2,457
    1159 shares of DODGE COX FUNDS INTERNATIONAL STOCK FUND 34,205 40,159
    97 shares of DOLLAR GENERAL CORP 4,262 4,277
    21 shares of DON QUIJOTE CO LTD 1,916 2,305
    2715 shares of DOUBLELINE TOTAL RETURN BOND 30,696 30,756
    34 shares of DOVER CORP 1,894 2,234
    2066 shares of DREYFUS PREMIER EMERGING MARKETS DEBT LOCAL CURREN 30,473 31,685
    38 shares of DU PONT DE NEMOURS 2,001 1,709
    219 shares of DUKE ENERGY CO 12,803 13,972
    848 shares of EATON VANCE EMERGING MARKETS 9,000 8,667
    2770 shares of EATON VANCE FLOATING RATE FUND INSTI SHARE 23,979 25,263
    1137 shares of EATON VANCE FLOATING-RATE HI INC INST 10,000 10,203
    613 shares of EATON VANCE GLOBAL MACRO FD CL I 6,000 6,026
    106 shares of EBAY INC. 3,537 5,406
    3606 shares of EDGEWOOD GROWTH FUND INSTI 41,520 49,907
    31 shares of EDISION INTL 1,438 1,401
    298 shares of ELI LILLY CO 12,948 14,697
    53 shares of ENERGY DEVELOPMENT ADR 737 856
    40 shares of ENI S.P.A. 1,853 1,966
    39 shares of ENSCO PLC 2,038 2,312
    17 shares of EVEREST RE GROUP LTD 1,555 1,869
    29 shares of FAMILYMART CO LTD ADR 995 1,184
    53 shares of FANUC LIMITED UNSPONSORED 1,256 1,626
    3796 shares of FIDELITY ADVISOR HIGH INC ADVANTAGE I 29,827 36,939
    29 shares of FIDELITY NATIONAL INFORMATION SERVICES INC 919 1,009
    142 shares of FIFTH THIRD BANCORP 2,127 2,158
    32 shares of FIRST REPUBLIC BANK 977 1,049
    43 shares of FORTUNE BRANDS HOME SECURITY, INC. 953 1,256
    56 shares of FREEPORT-MCMORAN COPPER GOLD INC. 2,129 1,915
    46 shares of FRESENIUS MED CAR AG 1,474 1,578
    16 shares of GARDNER DENVER INC 980 1,096
    100 shares of GENERAL ELECTRIC CO 1,613 2,099
    32 shares of GERRY WEBER INTL AG 735 1,539
    56 shares of GILEAD SCIENCES INC 2,735 4,113
    341 shares of GLAXOSMITHKLINE PLC 13,728 14,823
    8 shares of GOOGLE INC CL A 5,105 5,659
    20 shares of GREAT PLAINS ENERGY 422 406
    60 shares of GRUPO FIN STANTANDER - ADR B 817 971
    45 shares of HARRIS CORP DEL 1,708 2,203
    56 shares of HARTFORD FINANCIALSERVICES GROUP 1,174 1,257
    38 shares of HERSHEY FOODS CORP 2,734 2,744
    203 shares of HERTZ GLOBAL HOLDINGS INC 3,132 3,303
    28 shares of HOLLYFRONTIER CORP 918 1,303
    73 shares of HOLOGIC, INC 1,393 1,461
    57 shares of HOME DEPOT INC. 3,170 3,525
    114 shares of HOST HOTELS RESORTS INC 1,467 1,786
    173 shares of HUBBELL CLASS B 9,883 14,641
    118 shares of IMAGINATION TECH GROUP 928 767
    67 shares of INPEX HOLDINGS INC 1,098 886
    185 shares of INTEL CORP 3,522 3,815
    496 shares of INTERNATIONAL PAPER CO. 16,946 19,761
    83 shares of INTESA SANPAOLO S.P.A 732 883
    5 shares of INTUITIVE SURGICAL, INC. 2,498 2,452
    79 shares of INVESCO PLC 1,401 2,061
    600 shares of ISHARES MSCI EMERGING MARKETS INDEX FD 24,442 26,610
    302 shares of ISHARES MSCI-JAPAN 2,939 2,945
    250 shares of ISHARES RUSSELL 2000 17,546 21,080
    150 shares of ISHARES SP DVLPED 5,016 5,447
    345 shares of ISHARES SP U.S. PS INDEX FUND 13,803 13,669
    402 shares of ISHARES TR DJ SEL DIVIDEND INX 22,767 23,010
    233 shares of ISHARES TR S P MIDCAP 400 INDEX FD 18,166 23,696
    534 shares of ISHARES TRUST MSCI EAFE INDEX FUND 28,042 30,363
    880 shares of ISHARES TRUST RUSSELL 1000 VALUE INDEX FUND 64,740 64,082
    1065 shares of IVY GLOBAL NATURAL RESOURCES FUND CLASS I 16,383 18,503
    100 shares of JAPAN TOBACCO INC. 3,160 2,810
    35 shares of JARDINE MATHESON UNS/ADR 1,118 2,178
    1531 shares of JOHN HANCOCK EMERG MARKETS FUND CLASS I 13,257 16,442
    235 shares of JOHNSON JOHNSON 14,830 16,474
    107 shares of JP MORGAN CHASE CO 3,628 4,705
    2473 shares of JP MORGAN EXPANSION INDEX SELECT FUND 28,014 26,234
    3866 shares of JP MORGAN SHORT DURATION BOND SELECT FUND 41,367 42,488
    113 shares of JUNIPER NETWORKS 2,089 2,223
    188 shares of KIMBERLY CLARK CORP 13,104 15,873
    51 shares of KIMCO RLTY CORP 898 985
    120 shares of KIRIN BREWERY LTD 1,690 1,408
    253 shares of KLA TENCOR CORP 13,284 12,083
    115 shares of KRAFT FOODS GROUP, INC. 4,242 5,229
    116 shares of L BRANDS INC 5,575 5,459
    83 shares of LAIR LIQUIDE ADR OTC 1,768 2,112
    49 shares of LOREAL ADR 1,052 1,371
    61 shares of LAM RESEARCH CORP 2,218 2,204
    25 shares of LENNOX INTL INC 929 1,313
    70 shares of LIBERTY INTERACTIVE CORP 748 1,378
    30 shares of LIBERTY MEDIA CORPORATION 3,197 3,480
    47 shares of LIBERTY PROPERTY TRUST SBI 1,438 1,682
    23 shares of LIFE TECHNOLOGIES CORP 1,001 1,128
    21 shares of LINKEDIN CORPORATION CLASS A 2,203 2,411
    25 shares of LOCKHEED MARTIN CORP 2,051 2,307
    7 shares of LORILLARD INC 953 817
    34 shares of LULULEMON ATHLETICA INC 1,800 2,592
    25 shares of MT BANK CORP 1,794 2,462
    31 shares of MACYS INC 961 1,210
    55 shares of MAKITA CORP 2,127 2,555
    1510 shares of MANNING NAPIER FD, INC. EQUITY SRS 25,205 25,884
    3611 shares of MANNING NAPIER FD, INC.WORLD OPPORTUNITIES SRS C 25,205 27,985
    485 shares of MARATHON OIL CORP 12,204 14,870
    24 shares of MARATHON PETROLEUM CORP 1,034 1,512
    9 shares of MARTIN MARIETTA MATLS INC. 754 849
    62 shares of MATTELL INC. 1,606 2,270
    800 shares of MAWHF 1,071 664
    138 shares of MCDONALDS CORP 12,226 12,173
    387 shares of MEDTRONIC INC 14,683 15,875
    360 shares of MERCK CO INC. 12,108 14,738
    55 shares of METLIFE INC. 1,635 1,812
    106 shares of MFA MTG INVTS INC 800 860
    356 shares of MFS INTERNATIONAL GROWTH FUND CLASS I 9,000 9,804
    103 shares of MGM RESORTS INTERNATIONAL 1,370 1,199
    70 shares of MICROSOFT CORPORATION 2,110 1,870
    31 shares of MINDRAY MEDICAL INTL 928 1,014
    95 shares of MITSUBISHI ESTATE CO ADR 1,796 2,274
    49 shares of MOLSON COOR BREW CO CL B 2,158 2,097
    346 shares of MONDELEZ INTERNATIONAL INC 7,874 8,807
    50 shares of MONSANTO CO 3,637 4,733
    17 shares of MONSTER BEVERAGE CORP 989 898
    68 shares of MYLAN INC. 1,493 1,867
    59 shares of NASDAQ OMX GROUP 1,585 1,474
    65 shares of NESTLE S.A. 3,244 4,236
    22 shares of NETAPP, INC. 787 738
    2477 shares of NEUBERGER BERMAN MULTI CAP OPPT INSTL 26,080 27,169
    55 shares of NEWCREST MINING LTD-SPON ADR 1,380 1,299
    34 shares of NEXEN INC 834 916
    119 shares of NISSAN MOTOR LTD ASR 2,392 2,272
    484 shares of NOMURA HOLDINGS ADR 2,330 2,841
    40 shares of NORTHEAST UTIL 1,057 1,563
    253 shares of NORTHROP GRUMMAN CORP 13,508 17,098
    56 shares of NOVARTIS AG ADR 2,990 3,545
    502 shares of NUVEEN REAL ESTATE SECURITIES F 10,000 10,678
    49 shares of NV ENERGY INC 621 889
    149 shares of ON SEMICONDUCTOR CORP 965 1,050
    124 shares of OPHIR ENERGY COMPANY LIMITED 551 992
    122 shares of P P G IND 9,527 16,513
    49 shares of PARAMETRIC TECHNOLOGY CORP 808 1,103
    1032 shares of PARNASSUS FD EQUITY INCOME FUND 25,205 30,126
    13 shares of PARTNERRE LTD. 979 1,046
    29 shares of PAYCHEX INC 938 902
    35 shares of PEABODY ENERGY CORP 964 931
    26 shares of PENTAIR INC. 824 1,278
    54 shares of PETROLEO BRASILEIRO 1,691 1,051
    19 shares of PETSMART INC. 853 1,298
    656 shares of PFIZER INC. 11,930 16,452
    43 shares of PHILLIPS 66 1,335 2,283
    524 shares of PIMCO FDS PACIFIC INV MGMT 6,000 5,811
    2183 shares of PIMCO HIGH-YIELD INSTL 20,000 21,044
    5783 shares of PIMCO TOTAL RETURN FUND 65,000 65,004
    23 shares of PINNACLE WEST CAPITAL CORP 818 1,173
    42 shares of PIONEER NAT RES CO 3,937 4,477
    320 shares of PLUM CREEK TIMBER REIT 12,782 14,198
    35 shares of PNC FINANCIAL GROUP INC. 2,024 2,041
    58 shares of POLYCOM, INC. 1,033 607
    547 shares of PPL CORPORATION 16,170 15,661
    22 shares of PRECISION CASTPARTS 3,023 4,167
    4 shares of PRICELINE.COM INCORPORATED 1,432 2,482
    6518 shares of PRINCETON FUTURES 66,300 60,223
    87 shares of PRINCIPAL FINANCIAL GROUP 2,082 2,481
    49 shares of PRUDENTIAL PLC SC 1,162 1,399
    13 shares of PVH CORP 955 1,443
    52 shares of QUALCOMM INC 2,763 3,217
    49 shares of QUESTAR CP 980 968
    23 shares of RANGE RESOURCES CORP DEL 1,401 1,445
    27 shares of RELIANCE STL ALMN 1,423 1,677
    45 shares of REYNOLDS AMERN INC 1,465 1,864
    5372 shares of RIDGEWORTH FDS INTERMEDIATE BOND FUND I SHARES 57,260 55,437
    57 shares of RIO TINTO PLC SPONSORED ADR 2,999 3,311
    91 shares of ROCHE HOLDING LTD ADR 3,668 4,596
    14 shares of ROCKWELL AUTOMAT INC 1,075 1,176
    18 shares of ROCKWELL COLLINS INC 1,009 1,047
    228 shares of ROYAL BANK OF CANADA 10,987 13,748
    181 shares of ROYAL BANK SCOTLAND ADS 1,326 1,953
    218 shares of ROYAL DUTCH SHELL PLC 14,585 15,031
    1997 shares of RS INTERNATIONAL GROWTH FUND Y 29,409 36,021
    18 shares of SALESFORCE.COM 2,838 3,026
    114 shares of SANOFI-AVENTIS SPONSORED ADR 5,259 5,401
    119 shares of SANTOS LTD ORD 1,435 1,389
    26 shares of SCANNA CORPORATION 964 1,187
    67 shares of SCOTTISH SOUTHERN ENERGY ADR 1,444 1,558
    104 shares of SEALED AIR CP 1,583 1,821
    18 shares of SEMPRA ENERGY 932 1,277
    117 shares of SHISEIDO CO LTD 1,879 1,646
    102 shares of SLM CORP 910 1,747
    109 shares of SOFTBANK CP UNSP ADR 1,829 1,978
    48 shares of SOUTHWESTERN ENERGY 1,677 1,604
    1095 shares of SPDR SP 500 ETF TRUST 122,558 155,939
    43 shares of SPIRIT AEROSYSTEMS HOLDINGS CL A 1,011 730
    25 shares of STANLEY BLACK DECKER INC 1,851 1,849
    184 shares of STAPLES INC. 2,219 2,098
    66 shares of STARBUCKS CORP 3,048 3,540
    19 shares of STARWOOD HOTELS RESORTS 1,025 1,090
    72 shares of STD CHARTERED PLC SHS 1,735 1,842
    57 shares of SUNTRUST BKS INC 1,032 1,616
    5000 shares of SWISHER HYGIENE INC 24,180 8,750
    28 shares of SYNGENTA AG ADS 1,316 2,262
    443 shares of SYSCO CORP 12,244 14,025
    967 shares of T. ROWE PRICE GROWTH STOCK FD 31,000 36,546
    476 shares of T. ROWE PRICE NEW ASIA FUND 7,537 8,009
    370 shares of T. ROWE PRICE NEW HORIZONS FD 12,500 12,284
    65 shares of TAIWAN SEMICONDUCTOR MFG CO LTD 857 1,115
    38 shares of TANGER FACTORY OUTLT CENREIT 944 1,300
    117 shares of TELIASONERA ADR 1,556 1,597
    22 shares of TESORO CORP 989 969
    27 shares of TEVA PHARMECEUTICAL SP ADR 1,329 1,008
    1035 shares of THE HARTFORD CAPITAL APPRECIATION FUND CLASS I 28,708 35,583
    18 shares of THE JM SMUCKER COMPANY 1,204 1,552
    87 shares of TJX COMPANIES INC 2,868 3,693
    30 shares of TOLL BROTHERS INC 925 970
    125 shares of TOTAL FINA ELF S.A. 6,573 6,501
    54 shares of TOYOTA MTR CORP 4,408 5,036
    35 shares of TRAVELERS COMPANIES INC 1,803 2,514
    28 shares of TRW AUTOMOTIVE HOLDINGS CORP 869 1,501
    37 shares of UNION PACIFIC 3,743 4,652
    165 shares of UNITED PARCEL SERVICE 10,895 12,165
    849 shares of UNITEDHEALTH GROUP INC. 22,147 46,050
    89 shares of V F CORP 11,032 13,436
    76 shares of VALE SA 1,392 1,593
    453 shares of VALERO ENERGY CORP 12,160 15,456
    1952 shares of VANGUARD INTERMEDIATE-TERM CORPORATE FUND 18,802 20,140
    168 shares of VANGUARD MSCI EMERGING MARKETS ETF 7,546 7,481
    161 shares of VANGUARD MSCI EUROPEAN ETF 7,839 7,863
    2341 shares of VANGUARD SHORT-TERM CORPORATE FD ADMIRAL SHS 25,000 25,351
    35 shares of VENTAS INC 2,191 2,265
    306 shares of VERIZON COMMUNICATIONS 11,207 13,241
    17 shares of VERTEX PHARMCTLS INC 1,003 712
    2955 shares of VICTORY DIVERSIFIED STOCK FUND CLASS I SHARES 48,190 49,137
    35 shares of VISA INC 3,396 5,305
    39 shares of VMWARE INC 3,664 3,671
    34 shares of WAL-MART STORES INC. 1,837 2,320
    30 shares of WASTE CONNECTIONS 1,002 1,014
    379 shares of WASTE MANAGEMENT INC. 12,079 12,787
    525 shares of WELLS FARGO CO. 17,130 17,945
    641 shares of WELLS FARGO ADV INTL BOND FUND CLASS I 8,000 7,487
    1351 shares of WEYERHAEUSER CO 32,791 37,585
    25 shares of WHIRLPOOL CORP 1,493 2,544
    43 shares of WHOLE FOODS MARKET, INC. 3,831 3,920
    78 shares of WILLIAMS COS 2,462 2,554
    45 shares of WILLIS GROUP HOLDINGS LTD 1,678 1,509
    376 shares of WOLSELEY PLC ADR 1,494 1,778
    36 shares of WORLEY PARSONS LTD 952 876
    61 shares of XCEL ENERGY INC 1,470 1,629
    300 shares of XEROX CP 3,479 2,046
    64 shares of XL GROUP PLC 883 1,604
    52 shares of ZURICH INS GROU ADR 1,222 1,394

    TY 2012 InvestmentsOtherSchedule2
    Name:
    The Gerald and Susan Schwalbach Family Foundation
    EIN: 20-4822291
    Software ID:12000057
    Software Version:12.19.1011.1
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    KIDRON ADVISORS II, LP   297,809 342,688
    LAZARD LTD   770 746
    UBS DISTRESSED OPPORTUNITIES FUND II LLC   166,427 169,058

    TY 2012 OtherExpensesSchedule
    Name:
    The Gerald and Susan Schwalbach Family Foundation
    EIN: 20-4822291
    Software ID:12000057
    Software Version:12.19.1011.1
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 24,166     24,166
    Bank Charges 153 153    
    K-1 Exp KIDRON ADVISORS II, LP 3,030 3,030    
    K-1 Exp UBS DISTRESSED OPPORTUNITIES FD II LLC 6,054 6,054    
    State or Local Filing Fees 555     555


    TY 2012 OtherIncomeSchedule2
    Name:
    The Gerald and Susan Schwalbach Family Foundation
    EIN: 20-4822291
    Software ID:12000057
    Software Version:12.19.1011.1
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss KIDRON ADVISORS II, LP 3,640 3,640  
    K-1 Inc/Loss LAZARD LTD 29 29  
    K-1 Inc/Loss UBS DISTRESSED OPPORTUNITIES FD II LLC 9,129 8,701  


    TY 2012 OtherProfessionalFeesSchedule
    Name:
    The Gerald and Susan Schwalbach Family Foundation
    EIN: 20-4822291
    Software ID:12000057
    Software Version:12.19.1011.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 37,612 37,612    


    TY 2012 TaxesSchedule
    Name:
    The Gerald and Susan Schwalbach Family Foundation
    EIN: 20-4822291
    Software ID:12000057
    Software Version:12.19.1011.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Estimated Tax for 2012 2,600      
    Foreign Tax Paid 908 908    
    IRS Excise Tax Payment with 1st ext 990-PF 527