TY 2012 Form 990PF

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)
	1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	23,248	23,248
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		56,082
b	Gross sales price for all assets on line 6a 469,523
7	Capital gain net income (from Part IV, line 2)...		56,082
8	Net short-term capital gain.........			0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	79,330	79,330
	13	Compensation of officers, directors, trustees, etc.	15,569	14,012		1,557
14	Other employee salaries and wages......		0	0	0
15	Pension plans, employee benefits.......		0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		1,500	0	0	1,500
c	Other professional fees (attach schedule)....					0
17	Interest...............				0
18	Taxes (attach schedule) (see instructions)		1,059	442		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......		0	0
22	Printing and publications..........		0	0
23	Other expenses (attach schedule).......		1			1
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	18,129	14,454	0	3,058
25	Contributions, gifts, grants paid........	42,500			42,500
26	Total expenses and disbursements. Add lines 24 and 25	60,629	14,454	0	45,558
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	18,701
b	Net investment income (if negative, enter -0-)		64,876
c	Adjusted net income (if negative, enter -0-)...			0

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	11,142	26,035	26,035
	3	Accounts receivable
		Less: allowance for doubtful accounts	351	0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see page 15 of the
		instructions)....................
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........	739,911	771,626	845,409
	c	Investments—corporate bonds (attach schedule)........	153,082	125,521	131,386
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	904,486	923,182	1,002,830
	17	Accounts payable and accrued expenses..........
	18	Grants payable...................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	904,486	923,182
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................	904,486	923,182
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	904,486	923,182

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	904,486
2	Enter amount from Part I, line 27a.....................	2	18,701
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	923,187
5	Decreases not included in line 2 (itemize)	5	5
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	923,182

(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	10000. BARCLAYS 24MO DJUBS 10/12/12		2010-10-07	2012-10-12
b	12. CF INDUSTRIES HOLDINGS INC			2012-10-12
c	25. MCKESSON CORPORATION		2011-11-21	2012-10-12
d	69. STARBUCKS CORP			2012-10-12
e	10000. BNP 24MO EEM CALLABLE 10/17/12		2010-10-07	2012-10-17
	.3333 KRAFT FOODS GROUP INC		2012-09-19	2012-10-18
	133. MICROSOFT CORP COM			2012-10-23
	432.943 DRIEHAUS SELECT CREDIT FUND		2011-07-20	2012-11-06
	80.711 DRIEHAUS SELECT CREDIT FUND		2011-08-22	2012-11-06
	503.687 LOOMIS SAYLES STRATEGIC ALPHA FUND Y			2012-11-06
	32. P N C FINANCIAL SERVICES GROUP INC		2012-03-14	2012-11-06
	80. VALERO ENERGY CORP		2012-09-19	2012-11-06
	57. EATON CORP		2012-06-24	2012-12-03
	1685.469 AMER CENT DIVERSIFI BOND INS			2012-12-14
	96. B M C SOFTWARE INC			2012-12-14
	81. E M C CORPORATION		2012-04-23	2012-12-14
	69. FOOT LOCKER INC			2012-12-14
	33. HOME DEPOT INC		2012-02-24	2012-12-14
	50. KRAFT FOODS GROUP INC			2012-12-14
	53. MACYS INC		2012-08-10	2012-12-14
	49. MACYS INC		2012-11-06	2012-12-14
	25. UNITED TECHNOLOGIES CORP		2003-10-08	2012-12-14
	124.532 ABERDEEN FDS EMRGN		2012-01-04	2013-01-04
	10. APPLE COMPUTER INC		2010-08-13	2013-01-04
	85. DOLLAR TREE INC			2013-01-04
	111. LOWES CO INC		2012-12-14	2013-01-04
	60.883 NEUBERGER BERMAN GENESIS INSTL FD		2009-04-13	2013-01-04
	33.338 NEUBERGER BERMAN GENESIS INSTL FD		2012-01-04	2013-01-04
	104.904 NEUBERGER BERMAN GENESIS INSTL FD			2013-01-04
	71.504 NEUBERGER BERMAN GENESIS INSTL FD		2011-08-22	2013-01-04
	72. STARBUCKS CORP			2013-01-04
	. DELL INC			2013-01-09
	44. ALLERGAN INC			2013-01-25
	39. CVS CAREMARK CORP		2012-02-24	2013-01-25
	52. CAPITAL ONE FINANCIAL CORP			2013-01-25
	110.497 FORWARD INTERNATIONAL REAL ESTATE		2012-06-22	2013-01-25
	91. GENERAL ELEC CO		2012-05-02	2013-01-25
	48.239 GOLDMAN SACHS M C VALUE CL INST		2011-06-27	2013-01-25
	36. JARDEN CORP		2012-09-19	2013-01-25
	1. KRAFT FOODS GROUP INC		2012-09-19	2013-01-25
	185.351 NUVEEN MID CAP GRWTH OPP FD CL I		2009-04-13	2013-01-25
	49. POLARIS INDS INC			2013-01-25
	18. STARZ A		2012-11-06	2013-01-25
	534.745 MORGAN DEMPSEY SMALL MICRO CAP VALUE		2013-01-04	2013-01-25
	166. BANK OF AMERICA CORP		2012-08-23	2013-02-19
	101. FREEPORT MCMORAN COPPER GOLD			2013-02-19
	28. NATIONAL-OILWELL INC		2012-09-19	2013-02-19
	95.286 NEUBERGER BERMAN GENESIS INSTL FD		2009-04-13	2013-02-19
	99.869 NEUBERGER BERMAN GENESIS INSTL FD		2012-01-04	2013-02-19
	168. STAPLES INC		2012-09-19	2013-02-19
	133. STAPLES INC		2012-05-02	2013-02-19
	694.215 MORGAN DEMPSEY SMALL MICRO CAP VALUE		2013-01-04	2013-02-19
	57. EATON CORP PLC		2012-11-30	2013-02-19
	75. ROYAL CARIBBEAN CRUISES LTD		2013-01-25	2013-02-19
	543.424 EATON VANCE GLOBAL MACRO FD CL I		2012-08-29	2013-03-05
	42. EMERSON ELECTRIC CO		2012-01-04	2013-03-05
	54. TERADATA CORP DEL			2013-03-05
	358.665 TURNER SPECTRUM FUND INSTL		2012-09-19	2013-03-05
	43. INGERSOLL RAND PLC		2012-11-06	2013-03-05
	161. GENERAL ELEC CO			2013-03-21
	262.398 GOLDMAN SACHS M C VALUE CL INST			2013-03-21
	39. HOME DEPOT INC		2012-06-11	2013-03-21
	19. HOME DEPOT INC		2012-02-24	2013-03-21
	814.911 NUVEEN HIGH INCOME BOND FD CL I		2009-06-29	2013-03-21
	1159.593 NUVEEN INFLATION PRO SEC CL I		2012-01-19	2013-03-21
	4. SCHLUMBERGER LTD ISIN #AN8068571086			2013-03-21
	33. SCHLUMBERGER LTD ISIN #AN8068571086		2012-05-24	2013-03-21
	3. SCHLUMBERGER LTD ISIN #AN8068571086		2012-09-19	2013-03-21
	.5 JARDEN CORP		2012-09-19	2013-03-26
	283.298 EATON VANCE GLOBAL MACRO FD CL I		2013-02-19	2013-04-16
	136. FIFTH THIRD BANCORP		2012-08-23	2013-04-16
	40. RIO TINTO PLC A D R		2013-03-05	2013-04-16
	1. APPLE COMPUTER INC		2010-08-13	2013-04-24
	7. APPLE COMPUTER INC			2013-04-24
	265. LSI CORPORATION		2012-09-19	2013-04-24
	9.992 NEUBERGER BERMAN GENESIS INSTL FD		2009-04-13	2013-04-24
	27.893 NEUBERGER BERMAN GENESIS INSTL FD		2012-01-04	2013-04-24
	7.157 NEUBERGER BERMAN GENESIS INSTL FD		2012-01-19	2013-04-24
	37.334 NEUBERGER BERMAN GENESIS INSTL FD		2013-03-21	2013-04-24
	76.367 NEUBERGER BERMAN GENESIS INSTL FD			2013-04-24
	30.643 NEUBERGER BERMAN GENESIS INSTL FD		2013-04-16	2013-04-24
	25. PIONEER NAT RES CO		2011-11-30	2013-04-24
	364.913 ROBECO BOSTON PARTNERS L S RSRCH			2013-04-24
	303. STAPLES INC			2013-04-24
	679.866 TCW EMERGING MARKETS INCOME FUND		2013-03-21	2013-04-24
	15000. RBC 4YR SPX NOTE 4/29/13		2009-04-24	2013-04-29
	. LAUDUS ROSEN INTL S C FD CL INV			2013-05-17
	330. BANK OF AMERICA CORP			2013-05-23
	10. CF INDUSTRIES HOLDINGS INC		2012-10-23	2013-05-23
	88. CA INC			2013-05-23
	39. CITIGROUP INC		2012-05-02	2013-05-23
	38. EDISON INTL		2013-04-24	2013-05-23
	47. EDISON INTL		2012-03-27	2013-05-23
	46. RIO TINTO PLC A D R			2013-05-23
	32. UNITED HEALTH GROUP INC		2012-04-05	2013-05-23
	68. WILLIAMS COS INC		2012-09-19	2013-05-23
	37. COVIDIEN PLC		2012-06-23	2013-05-23
	8000. RBC 4YR GSCI COMMODITY 5/28/13		2009-05-22	2013-05-28
	125.075 AMER CENT DIVERSIFI BOND INS		2012-03-02	2013-07-24
	60.971 AMER CENT DIVERSIFI BOND INS		2012-07-05	2013-07-24
	61. CVS CAREMARK CORP			2013-07-24
	72. CONAGRA FOODS INC			2013-07-24
	38. DEVON ENERGY CORPORATION		2013-04-24	2013-07-24
	10. INTL BUSINESS MACHINES CORP		2012-09-19	2013-07-24
	20. INTL BUSINESS MACHINES CORP			2013-07-24
	129.078 NUVEEN MID CAP GRWTH OPP FD CL I		2009-04-13	2013-07-24
	109.516 NUVEEN MID CAP GRWTH OPP FD CL I		2013-01-04	2013-07-24
	39.58 NUVEEN MID CAP GRWTH OPP FD CL I		2012-05-24	2013-07-24
	43.309 NUVEEN MID CAP GRWTH OPP FD CL I		2012-08-10	2013-07-24
	3.38 NUVEEN MID CAP GRWTH OPP FD CL I		2013-03-05	2013-07-24
	121. ORACLE CORPORATION			2013-07-24
	1435.403 PIMCO TOTAL RETURN FUND INST		2011-03-16	2013-07-24
	104. VERIZON COMMUNICATIONS			2013-07-24
	55. WALGREEN CO		2012-12-14	2013-07-24
	432.392 ABERDEEN FDS EMRGN		2012-01-04	2013-08-26
	133.156 ABERDEEN FDS EMRGN		2012-09-19	2013-08-26
	1296.516 ABERDEEN FDS EMRGN			2013-08-26
	24.01 ABERDEEN FDS EMRGN		2012-12-14	2013-08-26
	87. GLAXO SMITHKLINE P L C A D R			2013-08-26
	225. ISHARES MSCI EMERGING MARKETS ETF			2013-08-26
	113. ISHARES MSCI EMERGING MARKETS ETF			2013-08-26
	37. ISHARES MSCI EMERGING MARKETS ETF		2013-01-25	2013-08-26
	103. MERCK AND CO INC			2013-08-26
	37. MOTOROLA SOLUTIONS INC		2012-12-14	2013-08-26
	33. OCCIDENTAL PETROLEUM CORPORATION		2010-08-13	2013-08-26
	156.617 ROBECO BOSTON PARTNERS L S RSRCH		2013-03-21	2013-08-26
	417.945 TURNER SPECTRUM FUND INSTL			2013-08-26
	. CIT GROUP INC			2013-09-16
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	10,566	10,000	566
b	2,530	2,412	118
c	2,237	1,950	287
d	3,257	3,619	-362
e	10,000	10,000
	16	14	2
	3,726	4,014	-288
	4,299	4,511	-212
	801	797	4
	5,123	5,000	123
	1,894	1,979	-85
	2,422	2,579	-157
	2,973	2,461	512
	18,810	18,577	233
	3,854	4,071	-217
	1,997	2,486	-489
	2,233	2,089	144
	2,047	1,552	495
	2,318	2,088	230
	2,027	2,017	10
	1,874	2,019	-145
	2,010	1,027	983
	2,002	1,621	381
	5,293	2,503	2,790
	3,352	4,148	-796
	3,967	3,820	147
	3,049	1,738	1,311
	1,670	1,566	104
	5,254	5,000	254
	3,581	3,068	513
	4,011	3,634	377
	4		4
	4,690	4,010	680
	2,022	1,719	303
	2,938	2,175	763
	2,000	1,744	256
	2,015	1,797	218
	2,016	1,797	219
	2,104	1,910	194
	47	43	4
	8,693	4,708	3,985
	4,525	4,181	344
	290	242	48
	5,973	5,937	36
	2,031	1,378	653
	3,453	4,017	-564
	1,953	2,299	-346
	5,039	2,720	2,319
	5,281	4,691	590
	2,374	2,034	340
	1,879	2,034	-155
	7,977	7,713	264
	3,490	2,961	529
	2,650	2,890	-240
	5,369	5,336	33
	2,358	2,010	348
	3,181	4,092	-911
	4,003	3,935	68
	2,288	2,070	218
	3,753	3,412	341
	11,498	9,266	2,232
	2,677	2,023	654
	1,304	894	410
	7,587	5,810	1,777
	13,799	13,370	429
	294	146	148
	2,428	2,165	263
	221	225	-4
	22	20	2
	2,796	2,802	-6
	2,198	2,007	191
	1,826	2,072	-246
	406	250	156
	2,840	4,435	-1,595
	1,669	2,011	-342
	529	285	244
	1,478	1,310	168
	379	346	33
	1,978	2,000	-22
	4,046	4,000	46
	1,623	1,616	7
	2,881	2,330	551
	4,678	4,681	-3
	3,788	4,220	-432
	6,357	6,309	48
	28,574	15,000	13,574
	15		15
	4,343	2,676	1,667
	1,883	2,048	-165
	2,403	2,199	204
	1,959	1,285	674
	1,820	2,023	-203
	2,251	2,046	205
	2,024	2,355	-331
	1,981	1,711	270
	2,512	2,309	203
	2,404	2,084	320
	9,350	8,000	1,350
	1,340	1,387	-47
	653	682	-29
	3,756	2,733	1,023
	2,647	2,199	448
	2,141	2,030	111
	1,968	2,063	-95
	3,936	3,882	54
	6,648	3,279	3,369
	5,640	4,958	682
	2,038	1,823	215
	2,230	2,000	230
	174	161	13
	3,908	4,076	-168
	15,474	15,646	-172
	5,227	5,369	-142
	2,803	2,028	775
	5,984	5,630	354
	1,843	2,000	-157
	17,944	18,823	-879
	332	376	-44
	4,517	4,256	261
	8,635	10,402	-1,767
	4,337	4,961	-624
	1,420	1,631	-211
	4,908	4,609	299
	2,105	2,006	99
	2,907	2,500	407
	2,108	1,998	110
	4,719	4,595	124
	54		54
			71

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			566
b			118
c			287
d			-362
e
			2
			-288
			-212
			4
			123
			-85
			-157
			512
			233
			-217
			-489
			144
			495
			230
			10
			-145
			983
			381
			2,790
			-796
			147
			1,311
			104
			254
			513
			377
			4
			680
			303
			763
			256
			218
			219
			194
			4
			3,985
			344
			48
			36
			653
			-564
			-346
			2,319
			590
			340
			-155
			264
			529
			-240
			33
			348
			-911
			68
			218
			341
			2,232
			654
			410
			1,777
			429
			148
			263
			-4
			2
			-6
			191
			-246
			156
			-1,595
			-342
			244
			168
			33
			-22
			46
			7
			551
			-3
			-432
			48
			13,574
			15
			1,667
			-165
			204
			674
			-203
			205
			-331
			270
			203
			320
			1,350
			-47
			-29
			1,023
			448
			111
			-95
			54
			3,369
			682
			215
			230
			13
			-168
			-172
			-142
			775
			354
			-157
			-879
			-44
			261
			-1,767
			-624
			-211
			299
			99
			407
			110
			124
			54

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	56,082
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . . . .		3

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
2011	52,855	951,445	0.055552
2010	48,579	989,389	0.0491
2009	56,670	904,965	0.062621
2008	38,529	820,854	0.046938
2007	43,676	1,143,622	0.038191

2	Total of line 1, column (d) ......................	2	0.252402
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	0.05048
4	Enter the net value of noncharitable-use assets for 2012 from Part X, line 5.....	4	987,473
5	Multiply line 4 by line 3.......................	5	49,848
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	649
7	Add lines 5 and 6.........................	7	50,497
8	Enter qualifying distributions from Part XII, line 4..............	8	45,558
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.

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	1,298
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	1,298
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-).	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	1,298
6	Credits/Payments:

a	2012 estimated tax payments and 2011 overpayment credited to 2012	6a	612
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	612
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	686
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2013 estimated tax0	Refunded	11	0

1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
US BANK	TRUSTEE 1	17,069
PO BOX 3168 PORTLAND,OR97208

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

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

		(a) Corpus	(b) Years prior to 2011	(c) 2011	(d) 2012
1 Distributable amount for 2012 from Part XI, line 7					48,076
2 Undistributed income, if any, as of the end of 2012:
a Enter amount for 2011 only.......				0
b Total for prior years:2010, 20, 20			0
3 Excess distributions carryover, if any, to 2012:
a From 2007.......	0
b From 2008.......	0
c From 2009.......	4,080
d From 2010.......	724
e From 2011.......	6,505
fTotal of lines 3a through e.........		11,309
4Qualifying distributions for 2012 from Part
XII, line 4: $ 45,558
a Applied to 2011, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions)......			0
c Treated as distributions out of corpus (Election required—see instructions).........		0
d Applied to 2012 distributable amount.....					45,558
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2012.		2,518			2,518
(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		8,791
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2011. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
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) .............		0
8Excess distributions carryover from 2007 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2013. Subtract lines 7 and 8 from line 6a ......		8,791
10 Analysis of line 9:
a Excess from 2008....	0
b Excess from 2009....	1,562
c Excess from 2010....	724
d Excess from 2011....	6,505
e Excess from 2012....

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2012	(b) 2011	(c) 2010	(d) 2009	(e) Total

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

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

RANDALL GRUNINGER US BANK
170 S MAIN STREET
SALT LAKE CITY,UT84101
(801) 534-6045

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

CONTACT ABOVE

cAny submission deadlines:

CONTACT ABOVE

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

UNDERPRIVILEDGED CHILDREN, PREFERENCE FOR UTAH ORGANIZATIONS

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
ASSITANCE LEAGUE OF SALT LAKE CITY 2060 EAST 3300 SOUTH SALT LAKE CITY,UT84109	NONE	PUBLIC	GENERAL SUPPORT	1,000
CHILDREN SERVICE SOCIETY OF UTAH 124 SOUTH 400 EAST ST 400 SALT LAKE CITY,UT84111	NONE	PUBLIC	SPECIAL NEEDS ADOPTION	2,000
CROSSROADS URBAN CENTER ATTN GLENN L BAILEY 347 SOUTH 400 EAST SALT LAKE CITY,UT84111	NONE	PUBLIC	CHILDREN SERVICES	2,000
GUADALUPE SCHOOLS ATTN VICTORIA M MORI 340 GOSHEN STREET SALT LAKE CITY,UT84104	NONE	PUBLIC	EARLY LEARNING CENTER	1,000
KOSTOPULOS DREAM FOUNDATION 2500 EMIGRATION CANYON SALT LAKE CITY,UT84108	NONE	PUBLIC	SUMMER CAMP SCHOLARSHIPS	2,000
NATIONAL ABILITY CENTER PO BOX 682799 PARK CITY,UT84068	NONE	PUBLIC	GENERAL SUPPORT	2,000
ODYSSEY HOUSE ATTN ADAM COHEN 344 EAST 100 SOUTH 301 SALT LAKE CITY,UT84111	NONE	PUBLIC	GENERAL SUPPORT	2,000
PRIMARY CHILDRENS MEDICAL CENTER CHARITABLE FUNDING 100 N MEDICAL DRIVE SALT LAKE CITY,UT84158	NONE	PUBLIC	GENERAL SUPPORT	2,000
SALT LAKE DONATED DENTAL SERVICES 1383 S 900 W 128 SALT LAKE CITY,UT84104	NONE	PUBLIC	GENERAL SUPPORT	2,000
SOUTH VALLEY SANCTUARY ATTN HEATHER MASTERTON PO BOX 1028 SALT LAKE CITY,UT84084	NONE	PUBLIC	GENERAL SUPPORT	2,000
THE CHILDREN'S CENTER 1855 EAST MEDICAL DRIVE SALT LAKE CITY,UT84112	NONE	PUBLIC	GENERAL SUPPORT	2,000
THE ROAD HOME 210 S RIO GRANDE STREET SLAT LAKE CITY,UT84101	NONE	PUBLIC	CHILDREN'S SERVICES PROGRAM	2,500
UTAH YOUTH VILLAGE 5800 S HIGHLAND DRIVE SALT LAKE CITY,UT84121	NONE	PUBLIC	FAMILIES FIRST PROGRAM	2,500
UTAH FOOD BANK ATTN LINDA MOORE 3150 SOUTH 900 WEST SALT LAKE CITY,UT84119	NONE	PUBLIC	GENERAL SUPPORT	2,000
VOLUNTEERS OF AMERICA HOMELESS YOUTH RESOURCE CENTER 511 WEST 200 SOUTH 160 SALT LAKE CITY,UT84101	NONE	PUBLIC	CHILDREN'S SERVICES	2,500
YWCA OF SALT LAKE CITY 322 EAST 300 SOUTH SALT LAKE CITY,UT84111	NONE	PUBLIC	CHILDREN'S ADVOCACY &	2,000
BAD DOG REDISCOVERS AMERICA 230 SOUTH 500 WEST SUITE 220 SALT LAKE CITY,UT84101	NONE	PUBLIC	GENERAL SUPPORT	2,000
BIG BROTHERS BIG SISTERS OF UTAH 151 EAST 5600 SOUTH SALT LAKE CITY,UT84107	NONE	PUBLIC	TWO MATCHES FOR ONE YEAR	2,000
BOYS & GIRLS CLUBS OF GREATER SALT LAKE 675 EAST 2100 SOUTH SALT LAKE CITY,UT84106	NONE	PUBLIC	PROGRAM OPERATION	2,000
NEIGHBORHOOD HOUSE ATTN JANETTE SCHIMPF 1050 WEST 500 SOUTH SALT LAKE CITY,UT84104	NONE	PUBLIC	CHILDREN'S DAY CARE CENTER	2,000
SPECIAL OLYMPICS OF UTAH ATTN GLENN LANHAM 243 EAST 400 SOUTH 111 SALT LAKE CITY,UT84111	NONE	PUBLIC	GENERAL SUPPORT	2,000
DISCOVERY GATEWAY 444 WEST 100 SOUTH SALT LAKE CITY,UT84101	NONE	PUBLIC	GENERAL SUPPORT	1,000
Total ................................. 3a				42,500

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...................				0

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

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3Interest on savings and temporary cash investments
4 Dividends and interest from securities....			14	23,248
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	56,082
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)..				79,330

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

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

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	52,855	951,445	0.055552
2010	48,579	989,389	0.0491
2009	56,670	904,965	0.062621
2008	38,529	820,854	0.046938
2007	43,676	1,143,622	0.038191

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
US BANK	TRUSTEE 1	17,069
PO BOX 3168 PORTLAND,OR97208	TRUSTEE 1	17,069

bApproved for future payment

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

Name of Bond	End of Year Book Value	End of Year Fair Market Value
NUVEEN HIGH INCOME BOND FD	43,650	46,424
ROYAL BK CANADA 4/29/13
ROYAL BK OF CANADA 5/28/13
BARCLAYS BK PLC 5/7/14	12,074	16,983
BNP PARIBAS 10/17/12
BARCLAYS BANK 10/12/12
AMER CENT DIVERSIFI BOND INS	47,091	45,098
ISHARES JP MORGAN EM BOND	13,188	13,192
SPDR BARCLAYS INTL TREAS BD FD	9,518	9,689

Name of Stock	End of Year Book Value	End of Year Fair Market Value
AMERICAN TOWER CORP	2,031	2,224
BANK OF AMERICA CORP	3,401	3,174
CITIGROUP	4,158	5,918
EXXON MOBIL	2,554	2,925
GENERAL ELECTRIC
HOME DEPOT INC
INTERNATIONAL BUSINESS MACHINE
MICROSOFT CORP	4,515	4,692
PFIZER INC	3,551	5,774
UNITED TECHNOLOGIES CORP	3,179	4,528
WELLS FARGO & CO	3,364	5,661
ACE LIMITED	2,017	2,526
SCHLUMBERGER LTD	4,080	4,860
NUVEEN MID CAP GRWTH OPP	12,809	15,887
NUVEEN REAL ESTATE SECS	38,310	46,239
IPATH GSCI TOTAL RETURN	6,341	6,157
ISHARES MSCI EMERGING MKTS	12,011	11,371
NEUBERGER BERMAN GENESIS	6,110	6,989
PIMCO TOTAL RETURN	99,534	94,830
SCOUT INTERNATIONAL	43,205	53,858
ALLERGAN INC
ANADARKO PETROLEUM	4,634	5,765
APPLE INC	5,127	3,814
BMC SOFTWARE
DOLLAR TREE
EATON CORP	2,049	2,685
FOOT LOCKER	2,088	2,138
MCKESSON CORPORATION
OCCIDENTAL PETROLEUM
STARBUCKS CORP
TERADATA CORP
NUVEEN GLOBL INFRAS	44,740	51,900
GOLDMAN SACHS	11,945	16,181
IPATH DOW JONES UBS COMMODITY	6,353	5,254
SPDR BARCLAYS CAPITAL
BOEING CO	2,578	4,700
CAPITAL ONE FINANCIAL
DOVER CORP	2,667	4,402
JARDEN CORP	2,140	3,098
MACYS INC	3,529	3,851
MASTERCARD	1,205	3,364
NATIONAL OILWELL VARCO
POLARIS INDS	2,792	3,359
PRUDENTIAL FINANCIAL	1,876	2,807
SLM CORP	2,059	3,113
UNITED HEALTH GROUP INC	2,296	3,008
ABERDEEN FDS EMRGN MKT	30,195	28,326
CREDIT SUISSE COMM	30,214	26,791
DRIEHAUS ACTIVE INCOME	9,924	9,583
DRIEHAUS SELECT CREDIT FUND	8,151	8,077
LAUDUS INTL MARKETMASTERS	63,033	79,168
LOOMIS SAYLES STRAT	7,787	7,752
SPDR DJ WILSHIRE INTL	14,340	15,251
TFS MARKET NEUTRAL FUND	7,265	7,483
CF INDUSTRIES HOLDING INC
CVS CAREMARK CORP
DOW CHEM CO	1,960	2,650
E M C CORPORATION
EDISON INTL
EMERSON ELEC CO
FIFITH THIRD BANCORP
GILEAD SCIENCES INC	2,129	5,155
GOOGLE INC CL A	4,794	6,131
KRAFT FOODS INC CL A
LSI CORPORATION
MARATHON OIL CORPORATION	3,475	4,011
MAXIM INTEGRATED PROD INC	3,125	3,429
P N C FINANCIAL SERVICES GR	2,322	2,174
PIONEER NAT RES CO
WILLIAMS COS INC
STAPLES INC	1,970	1,773
VALERO ENERGY CORP
COVIDIEN PLC
GLAXO SMITHKLINE PLC
NIELSEN HOLDINGS NV	2,012	2,442
BLACKROCK EMERGING MKTS	12,721	12,782
E I I INTL PPTY I	8,291	10,773
EATON VANCE GLOBAL MACRO FD CL	6,755	6,428
FORWARD INTERNATIONAL R/E	8,377	8,387
INV BALANCE RISK COMM STR Y	10,920	9,058
TURNER SPECTRUM FUND INSTL
NUVEEN INFLATION PRO SEC CL	31,884	30,300
PYXIS LONG SHORT EQUIT Z
TCW EMERGING MKTS INC FD	12,793	11,524
TCW EMERGING MKTS LOCAL	2,122	1,941
AOL INC	4,100	3,804
BEST BUY CO INC	1,975	3,113
BORG WARNER INC	2,009	2,636
CA INC	1,843	2,196
CATERPILLAR INC	2,022	2,002
CHEVRON CORP	2,019	1,944
CISCO SYS INC	2,999	2,929
CONAGRA FOODS INC	1,841	1,669
D R HORTON INC	2,023	1,496
EMERSON ELEC CO	2,051	2,135
ILLINOIS TOOL WORKSINC	2,644	2,822
INTERNATIONAL PAPER CO	2,043	2,016
KOHLS CORP	2,032	1,967
LIBERTY MEDIA CORP DELAWARE	1,771	2,649
LINCOLN NATL CORP IND	2,621	2,477
LOWES CO INC	2,763	3,380
MONDELEZ INTERNATIONAL	3,967	4,839
MONSANTO CO	2,011	2,192
MOODYS CORP	2,026	2,180
MORGAN STANLEY	2,386	2,830
NRG ENERGY INC	2,061	2,405
OWENS III INC	2,081	2,041
PITNEY BOWES INC	2,004	2,110
SYMANTEC CORP	2,474	2,772
TYSON FOODS INC	2,046	2,913
ROYAL CARIBBEAN CRUISES LTD	2,021	2,144
HIGHLAND LONG SHORT EQ FD	8,928	10,215
MORGAN DEMPSEY SM MICRO CAP V	5,660	6,741
NEUBERGER BERMAN LONG SH	2,748	2,907
OPPENHEIMER DEVELOPING MKTS	16,586	17,792
PARAMETRIC EMERGING MKTS INC	16,011	16,762
ROBECO BOSTON PARTNERS L S RES	10,738	10,842
T ROWE PRICE MID CAP GRWTH FD	15,315	16,048

Category	Amount	Net Investment Income
FOREIGN TAXES	4	4
FEDERAL TAX PAYMENT - PRIOR YE	5	0
FEDERAL ESTIMATES - PRINCIPAL	612	0
FOREIGN TAXES ON QUALIFIED FOR	366	366
FOREIGN TAXES ON NONQUALIFIED	72	72

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