TY 2013 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter Social Security numbers on this form as it may be made public. By law, the IRS cannot redact the information on the form.
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Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

2013

Open to Public Inspection

For calendar year 2013, or tax year beginning 01-01-2013 , and ending 12-31-2013

Name of foundation
ADAMS JESSE AND HERTHA CHARITABLE TR

Number and street (or P.O. box number if mail is not delivered to street address)901 SOUTH BOND STREET Room/suite

City or town, state or province, country, and ZIP or foreign postal code
BALTIMORE, MD21231

A Employer identification number

25-6821173

B Telephone number (see instructions)

(410) 537-5562

C If exemption application is pending, check here bullet

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

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

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

E If private foundation status was terminated
under section 507(b)(1)(A), check here ......... bullet

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

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

$18,476,899J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ......... bullet

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(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......	364,691		363,859
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		146,853
b	Gross sales price for all assets on line 6a 13,010,880
7	Capital gain net income (from Part IV, line 2)...			146,853
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).......		44,430	12,211
12	Total. Add lines 1 through 11........	555,974		522,923
13	Compensation of officers, directors, trustees, etc.	23,224		23,224
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).......
c	Other professional fees (attach schedule)....		96,772	96,772		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)		12,638	1,131		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).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	132,634		121,127	0	0
25	Contributions, gifts, grants paid........	818,987				818,987
26	Total expenses and disbursements. Add lines 24 and 25	951,621		121,127	0	818,987
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-395,647
b	Net investment income (if negative, enter -0-)			401,796
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2013)

Form 990-PF (2013)

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
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..........		304,695	845,848	845,848
	3	Accounts receivable
		Less: allowance for doubtful accounts			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 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)		2,733,618	680,657	679,267
	b	Investments—corporate stock (attach schedule)........		7,517,736	9,737,710	15,457,806
	c	Investments—corporate bonds (attach schedule)........		2,602,730	1,494,001	1,490,778
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........		6,092	6,092	3,200
	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)		13,164,871	12,764,308	18,476,899
		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.........		13,164,871	12,764,308
	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)....................		13,164,871	12,764,308
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................		13,164,871	12,764,308

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	13,164,871
2	Enter amount from Part I, line 27a.....................	2	-395,647
3	Other increases not included in line 2 (itemize)	3	200
4	Add lines 1, 2, and 3..........................	4	12,769,424
5	Decreases not included in line 2 (itemize)	5	5,116
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	12,764,308

Form 990-PF (2013)

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	278583.14 F H L M C GD Q08903 3.500% 6/01/42		2012-08-10	2013-01-10
b	5363.54 F H L M C GD C03796 3.500% 4/01/42		2012-07-18	2013-01-15
c	164265.53 F H L M C GD C03796 3.500% 4/01/42		2012-07-18	2013-01-15
d	454.91 F H L M C GD C09015 3.000% 10/01/42		2012-11-08	2013-01-15
e	2707.58 F H L M C GD Q08903 3.500% 6/01/42		2012-08-10	2013-01-15
	65000. DELL INC 5.875% 6/15/19		2012-07-24	2013-01-16
	5446.36 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-01-25
	2142.45 F N M A #AB6278 2.500% 9/01/27		2012-09-11	2013-01-25
	7104.84 F N M A #AD7079 4.500% 6/01/25		2011-05-10	2013-01-25
	2835.49 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-01-25
	65000. EASTMAN CHEMICAL CO 3.600% 8/15/22		2012-06-20	2013-01-29
	135193.05 U S TREASURY I P S 0.125% 7/15/22		2012-08-14	2013-01-29
	70000. AVALONBAY CMNTYS IN 2.950% 9/15/22		2012-09-14	2013-01-30
	65000. DEVON ENERGY CORP 3.250% 5/15/22		2012-06-15	2013-01-31
	29000. ENTERPRISE PRODUCTS 5.200% 9/01/20		2011-09-20	2013-01-31
	14000. KOHLS CORPORATION 4.000% 11/01/21		2012-02-07	2013-01-31
	51000. KOHLS CORPORATION 4.000% 11/01/21		2012-02-08	2013-01-31
	36000. ENTERPRISE PRODUCTS 5.200% 9/01/20		2011-09-14	2013-02-05
	98347.65 F H L M C GD C09015 3.000% 10/01/42		2012-11-08	2013-02-12
	155000. U S TREASURY NT 1.250% 10/31/15		2013-01-31	2013-02-13
	110000. F H L M C M T N 0.375% 2/27/14		2012-01-23	2013-02-14
	200000. F N M A M T N 5.000% 3/02/15		2005-03-14	2013-02-14
	150000. U S TREASURY NT 1.250% 10/31/15		2013-01-31	2013-02-14
	40489.6 U S TREASURY I P S 0.125% 4/15/17		2013-01-30	2013-02-14
	19995.4 U S TREASURY I P S 0.125% 7/15/22		2012-08-14	2013-02-14
	625.12 F H L M C GD C09015 3.000% 10/01/42		2012-11-08	2013-02-15
	165000. F H L M C DEB 2.000% 8/14/17		2012-12-27	2013-02-15
	2000. AVALONBAY COMMUNITIES INC		2011-09-23	2013-02-25
	4854.64 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-02-25
	2461.36 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-02-25
	251.86 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-02-25
	411.93 F N M A #AR1150 3.000% 1/01/43		2013-01-10	2013-02-25
	4076.8 F N M A #AB6278 2.500% 9/01/27		2012-09-11	2013-02-25
	7347.29 F N M A #AD7079 4.500% 6/01/25		2011-05-10	2013-02-25
	2571.39 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-02-25
	60000. CONSOLIDATED NAT GAS 5.000% 12/01/14		2011-02-25	2013-03-04
	323664. U S TREASURY I P S 0.125% 4/15/17		2013-01-30	2013-03-04
	104895. U S TREASURY I P S 0.125% 7/15/22		2012-08-14	2013-03-04
	150000. U S TREASURY NT 0.875% 1/31/17		2013-03-04	2013-03-08
	290000. F F C B DEB		2013-02-21	2013-03-18
	3804.28 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-03-25
	1270.83 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-03-25
	251.33 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-03-25
	423.86 F N M A #AR1150 3.000% 1/01/43		2013-01-10	2013-03-25
	3176.6 F N M A #AB6278 2.500% 9/01/27		2012-09-11	2013-03-25
	1341.04 F N M A #AB6644 2.500% 10/01/27		2013-02-12	2013-03-25
	7904.35 F N M A #AD7079 4.500% 6/01/25		2011-05-10	2013-03-25
	2085.71 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-03-25
	65000. BANK OF AMER CRP MTN 4.400% 3/15/15		2010-02-23	2013-03-26
	65000. PEPSICO INC 5.000% 6/01/18		2008-05-20	2013-03-26
	60000. POTASH CORP 5.250% 5/15/14		2011-02-11	2013-03-28
	30000. AMERICAN EXPRESS 7.000% 3/19/18		2012-03-06	2013-04-03
	10000. BARRICK NA FIN 6.800% 9/15/18		2013-03-28	2013-04-03
	20000. BERKLEY WR CORP 5.375% 9/15/20		2011-02-24	2013-04-03
	25000. BOSTON PROP LP 5.625% 11/15/20		2011-08-18	2013-04-03
	25000. DUKE CAPITAL CORP 6.750% 7/15/18		2011-09-26	2013-04-03
	30000. FEDEX CORP 8.000% 1/15/19		2012-10-01	2013-04-03
	25000. GEN ELEC CAP CRP MTN 5.500% 1/08/20		2012-02-23	2013-04-03
	30000. JPMORGAN CHASE 6.300% 4/23/19		2012-05-15	2013-04-03
	20000. MARKEL CORP 5.350% 6/01/21		2012-07-23	2013-04-03
	20000. MEDCO HLTH SOLUTIONS 4.125% 9/15/20		2012-11-07	2013-04-03
	20000. ONEOK INC 4.250% 2/01/22		2012-01-25	2013-04-03
	88834.86 F N M A #AR1150 3.000% 1/01/43		2013-01-10	2013-04-09
	2000. ALLERGAN INC		2012-05-14	2013-04-16
	60000. TENNESSEE ST SCH 1.922% 5/01/19		2012-07-13	2013-04-19
	35000. BARRICK NA FIN 6.800% 9/15/18		2013-03-28	2013-04-23
	150000. F H L M C MLTCL MTG 3.500% 2/15/26		2011-08-29	2013-04-24
	3747.89 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-04-25
	838.04 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-04-25
	3176.25 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-04-25
	175.89 F N M A #AR1150 3.000% 1/01/43		2013-01-10	2013-04-25
	3629. F N M A #AB6278 2.500% 9/01/27		2012-09-11	2013-04-25
	937.18 F N M A #AB6644 2.500% 10/01/27		2013-02-12	2013-04-25
	8085.87 F N M A #AD7079 4.500% 6/01/25		2011-05-10	2013-04-25
	2496.21 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-04-25
	21.33 VIRGINIA ST HSG DE 3.250% 8/25/42		2013-03-11	2013-04-25
	40000. DUKE CAPITAL CORP 6.750% 7/15/18		2011-09-26	2013-05-03
	1000. IDEXX LABORATORIES CORP		2013-02-07	2013-05-24
	2999.16 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-05-25
	1025.43 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-05-25
	2130.04 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-05-25
	2774.59 F N M A #AB6278 2.500% 9/01/27		2012-09-11	2013-05-25
	2126.43 F N M A #AB6644 2.500% 10/01/27		2013-02-12	2013-05-25
	6843.24 F N M A #AD7079 4.500% 6/01/25		2011-05-10	2013-05-25
	1913.41 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-05-25
	377.81 VIRGINIA ST HSG DE 3.250% 8/25/42		2013-03-11	2013-05-25
	19172.61 DOUBLELINE EMG MKTS INC I		2012-12-05	2013-05-28
	12790.86 DOUBLELINE EMG MKTS INC I		2011-11-08	2013-05-28
	202.52 ILLINOIS ST HSG 2.750% 6/01/43		2013-03-07	2013-06-01
	41.21 MINNESOTA ST HSG 2.700% 9/01/41		2013-04-10	2013-06-01
	8000. COMCAST CORP 6.500% 1/15/17		2013-02-07	2013-06-12
	37000. COMCAST CORP 6.500% 1/15/17		2013-02-07	2013-06-12
	223671.67 F N M A #AB6278 2.500% 9/01/27		2012-09-11	2013-06-13
	142911.9 F N M A #AD7079 4.500% 6/01/25		2011-05-10	2013-06-13
	40000. GEN ELEC CAP CRP MTN 5.500% 1/08/20		2012-02-23	2013-06-13
	145000. U S TREASURY NT 1.250% 10/31/15		2013-02-19	2013-06-13
	320000. U S TREASURY NT 0.875% 1/31/17		2013-05-20	2013-06-13
	66430.469 PIMCO ALL ASSETS ALL AUTH IS		2012-11-28	2013-06-21
	65000. SOUTH CAROLINA 0.87965% 6/02/14		2011-06-13	2013-06-21
	4113.74 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-06-25
	1275.94 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-06-25
	918.22 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-06-25
	4993.47 F N M A #AB6278 2.500% 9/01/27		2012-09-11	2013-06-25
	1365.7 F N M A #AB6644 2.500% 10/01/27		2013-02-12	2013-06-25
	6778.98 F N M A #AD7079 4.500% 6/01/25		2011-05-10	2013-06-25
	2481.93 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-06-25
	771.21 VIRGINIA ST HSG DE 3.250% 8/25/42		2013-03-11	2013-06-25
	5000. FLORIDA ST HURRICANE 2.107% 7/01/18		2013-05-15	2013-06-26
	65000. VIRGINIA ST CLG BLDG 2.700% 2/01/17		2011-02-08	2013-06-26
	15000. FLORIDA ST HURRICANE 2.107% 7/01/18		2013-05-15	2013-06-27
	50000. CHICAGO IL TAXABLE 7.781% 1/01/35		2012-02-28	2013-06-28
	208.49 ILLINOIS ST HSG 2.750% 6/01/43		2013-03-07	2013-07-01
	92.13 MINNESOTA ST HSG 2.700% 9/01/41		2013-04-10	2013-07-01
	28000. ONEOK INC 4.250% 2/01/22		2012-01-25	2013-07-01
	17000. ONEOK INC 4.250% 2/01/22		2012-01-24	2013-07-01
	25000. FLORIDA ST HURRICANE 2.107% 7/01/18		2013-04-10	2013-07-02
	147615.51 F N M A #AB6644 2.500% 10/01/27		2013-02-12	2013-07-08
	327593.5 U S TREASURY I P S 0.125% 1/15/23		2013-06-13	2013-07-08
	317050.65 U S TREASURY I P S 0.125% 4/15/18		2013-06-13	2013-07-08
	135000. F H L M C MLTCL MTG 4.000% 9/15/24		2011-09-14	2013-07-15
	100000. F N M A GTD REMIC 4.000% 10/25/25		2011-08-19	2013-07-15
	3398.07 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-07-25
	324.27 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-07-25
	243.35 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-07-25
	2862.83 F N M A #AB6644 2.500% 10/01/27		2013-02-12	2013-07-25
	1397.19 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-07-25
	605.72 VIRGINIA ST HSG DE 3.250% 8/25/42		2013-03-11	2013-07-25
	40000. BOSTON PROP LP 5.625% 11/15/20		2011-08-24	2013-07-26
	258.73 ILLINOIS ST HSG 2.750% 6/01/43		2013-03-07	2013-08-01
	172.09 MINNESOTA ST HSG 2.700% 9/01/41		2013-04-10	2013-08-01
	360000. U S TREASURY NT 0.375% 6/30/15		2013-07-08	2013-08-12
	300000. U S TREASURY NT 1.250% 10/31/15		2013-03-04	2013-08-21
	210000. U S TREASURY NT 0.375% 6/30/15		2013-07-08	2013-08-21
	35000. AMERICAN EXPRESS 7.000% 3/19/18		2012-03-05	2013-08-22
	35000. FEDEX CORP 8.000% 1/15/19		2012-10-01	2013-08-22
	60000. GOLDMAN SACHS GP 1.30139% 2/07/14		2011-02-02	2013-08-22
	35000. JPMORGAN CHASE 6.300% 4/23/19		2012-05-15	2013-08-22
	30000. PEPSICO INC 7.900% 11/01/18		2013-05-24	2013-08-22
	2950.58 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-08-25
	70.97 F N M A #AP4266 3.500% 8/01/42		2013-07-15	2013-08-25
	283.24 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-08-25
	855.43 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-08-25
	278.09 F N M A #AT9143 3.500% 7/01/43		2013-07-15	2013-08-25
	101.37 F N M A #AT9189 3.500% 7/01/43		2013-07-15	2013-08-25
	3202.95 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-08-25
	289.35 VIRGINIA ST HSG DE 3.250% 8/25/42		2013-03-11	2013-08-25
	7396.45 DOUBLELINE EMG MKTS INC I		2011-11-08	2013-08-26
	65000. BERKSHIRE HATHWY 3.200% 2/11/15		2010-02-26	2013-08-27
	20000. EASTMAN CHEMICAL CO 2.400% 6/01/17		2013-02-12	2013-08-27
	15000. FMC TECHNOLOGIES INC 2.000% 10/01/17		2013-04-05	2013-08-27
	60000. F H L M C M T N 0.420% 9/18/15		2013-02-28	2013-08-27
	66210.65 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-08-27
	30000. MORGAN STANLEY 3.800% 4/29/16		2012-03-14	2013-08-27
	35000. STARBUCKS CORP 6.250% 8/15/17		2011-03-07	2013-08-27
	2485.089 DOUBLELINE EMG MKTS INC I		2011-11-08	2013-08-30
	208.23 ILLINOIS ST HSG 2.750% 6/01/43		2013-03-07	2013-09-01
	93.72 MINNESOTA ST HSG 2.700% 9/01/41		2013-04-10	2013-09-01
	45000. F H L M C M T N 0.375% 2/27/14		2013-05-01	2013-09-03
	30000. U S TREASURY NT 4.250% 11/15/13		2013-08-26	2013-09-03
	60000. U S TREASURY NT 1.000% 1/15/14		2013-08-21	2013-09-03
	35356.3 U S TREASURY I P S 0.125% 4/15/18		2013-08-12	2013-09-03
	15051.3 U S TREASURY I P S 0.500% 7/15/23		2013-08-12	2013-09-03
	65000. U S TREASURY NT 1.000% 1/15/14		2013-08-21	2013-09-04
	20000. ALLEGHANY CORP 4.950% 6/27/22		2013-05-03	2013-09-05
	1982.161 DOUBLELINE EMG MKTS INC I		2011-11-08	2013-09-12
	25000. AT T INC 0.800% 12/01/15		2013-02-11	2013-09-13
	10000. TIFT CNTY GA HOSP 4.000% 12/01/42		2013-01-09	2013-09-13
	25000. CELGENE CORP 2.450% 10/15/15		2013-02-28	2013-09-16
	16472.241 DOUBLELINE EMG MKTS INC I		2011-12-28	2013-09-16
	19000. SOUTHWEST AIRLINES 5.125% 3/01/17		2013-06-04	2013-09-24
	2048.35 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-09-25
	67.34 F N M A #AP4266 3.500% 8/01/42		2013-07-15	2013-09-25
	1359.75 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-09-25
	1200.16 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-09-25
	259.84 F N M A #AT9143 3.500% 7/01/43		2013-07-15	2013-09-25
	57.59 F N M A #AT9189 3.500% 7/01/43		2013-07-15	2013-09-25
	3329.67 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-09-25
	154.5 VIRGINIA ST HSG DE 3.250% 8/25/42		2013-03-11	2013-09-25
	1179.55 ILLINOIS ST HSG 2.750% 6/01/43		2013-03-07	2013-10-01
	154.16 MINNESOTA ST HSG 2.700% 9/01/41		2013-04-10	2013-10-01
	351. CITRIX SYSTEMS INC		2013-04-16	2013-10-09
	738. CITRIX SYSTEMS INC		2013-04-16	2013-10-10
	272. CITRIX SYSTEMS INC		2013-04-16	2013-10-11
	10000. STARBUCKS CORP 6.250% 8/15/17		2011-03-07	2013-10-11
	353. CITRIX SYSTEMS INC		2013-04-16	2013-10-14
	286. CITRIX SYSTEMS INC		2013-04-16	2013-10-15
	15000. STARBUCKS CORP 6.250% 8/15/17		2011-03-07	2013-10-17
	120000. F H L M C M T N 0.375% 2/27/14		2013-05-01	2013-10-21
	225000. U S TREASURY NT 4.250% 11/15/13		2013-08-26	2013-10-21
	100000. U S TREASURY NT 1.000% 1/15/14		2013-08-21	2013-10-23
	1760.66 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-10-25
	67.65 F N M A #AP4266 3.500% 8/01/42		2013-07-15	2013-10-25
	343.62 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-10-25
	913.62 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-10-25
	986.54 F N M A #AT9143 3.500% 7/01/43		2013-07-15	2013-10-25
	53.99 F N M A #AT9189 3.500% 7/01/43		2013-07-15	2013-10-25
	1820.53 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-10-25
	424.35 VIRGINIA ST HSG DE 3.250% 8/25/42		2013-03-11	2013-10-25
	30000. AT T INC 0.800% 12/01/15		2013-02-11	2013-11-01
	231.65 ILLINOIS ST HSG 2.750% 6/01/43		2013-03-07	2013-11-01
	121.29 MINNESOTA ST HSG 2.700% 9/01/41		2013-04-10	2013-11-01
	75000. U S TREASURY NT 4.250% 11/15/13		2013-08-26	2013-11-01
	18000. VERIZON 1.99285% 9/14/18		2013-09-13	2013-11-01
	10000. EASTMAN CHEMICAL CO 2.400% 6/01/17		2013-02-13	2013-11-07
	20000. ECOLAB INC 1.450% 12/08/17		2013-06-07	2013-11-07
	45000. F H L M C M T N 0.420% 9/18/15		2013-02-28	2013-11-07
	15000. KELLOGG CO 4.150% 11/15/19		2013-05-03	2013-11-07
	10000. METLIFE INC 1.756% 12/15/17		2013-07-18	2013-11-07
	10000. MORGAN STANLEY 3.800% 4/29/16		2012-03-14	2013-11-07
	10000. ROPER INDUSTRIES INC 2.050% 10/01/18		2013-08-15	2013-11-07
	45541.35 U S TREASURY I P S 0.125% 4/15/18		2013-08-12	2013-11-07
	10052.5 U S TREASURY I P S 0.500% 7/15/23		2013-08-12	2013-11-07
	15000. BANK OF AMER CORP 6.000% 9/01/17		2013-01-10	2013-11-12
	15000. CARNIVAL CORP 1.875% 12/15/17		2013-07-03	2013-11-12
	25000. CATERPILLAR FINL MTN 2.650% 4/01/16		2013-02-06	2013-11-12
	1254. CONSOLIDATED EDISON INC		2010-11-12	2013-11-12
	15000. FMC TECHNOLOGIES INC 2.000% 10/01/17		2013-04-04	2013-11-12
	30000. MFA FINANCIAL INC		2012-01-31	2013-11-12
	20000. MEDCO HLTH SOLUTIONS 4.125% 9/15/20		2012-11-07	2013-11-12
	7000. TEXAS INSTRUMENTS INC.		2004-08-05	2013-11-12
	6000. KELLOGG CO 4.150% 11/15/19		2013-05-03	2013-11-15
	19000. KELLOGG CO 4.150% 11/15/19		2013-05-03	2013-11-15
	45000. MARKEL CORP 5.350% 6/01/21		2012-07-23	2013-11-15
	15086.4 U S TREASURY I P S 0.500% 7/15/23		2013-08-12	2013-11-20
	135000. U S TREASURY NT 1.250% 10/31/18		2013-11-01	2013-11-20
	20000. AMERICAN EXPRESS 0.83628% 5/22/18		2013-08-22	2013-11-25
	293.37 CONNECTICUT AVENUE 2.2382% 10/25/23		2013-11-14	2013-11-25
	1527.99 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-11-25
	91.59 F N M A #AP4266 3.500% 8/01/42		2013-07-15	2013-11-25
	278.43 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-11-25
	1301.37 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-11-25
	296.28 F N M A #AT9143 3.500% 7/01/43		2013-07-15	2013-11-25
	57.59 F N M A #AT9189 3.500% 7/01/43		2013-07-15	2013-11-25
	2464.73 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-11-25
	15000. AMERICAN EXPRESS 0.83628% 5/22/18		2013-08-22	2013-11-26
	101285. U S TREASURY I P S 0.125% 4/15/18		2013-08-12	2013-11-27
	20121.4 U S TREASURY I P S 0.500% 7/15/23		2013-08-12	2013-11-27
	204.97 ILLINOIS ST HSG 2.750% 6/01/43		2013-03-07	2013-12-01
	58.17 MINNESOTA ST HSG 2.700% 9/01/41		2013-04-10	2013-12-01
	32701.22 F N M A #AP4266 3.500% 8/01/42		2013-07-15	2013-12-06
	71104.49 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-12-06
	151957.01 F N M A #AT9143 3.500% 7/01/43		2013-07-15	2013-12-06
	34359.71 F N M A #AT9189 3.500% 7/01/43		2013-07-15	2013-12-06
	35000. BB&T CORP MTN 1.09335% 6/15/18		2013-09-17	2013-12-09
	25000. ECOLAB INC 1.450% 12/08/17		2013-06-07	2013-12-10
	5000. METLIFE INC 1.756% 12/15/17		2013-07-18	2013-12-11
	20000. METLIFE INC 1.756% 12/15/17		2013-07-18	2013-12-11
	250000. U S TREASURY NT 1.250% 10/31/15		2013-12-09	2013-12-23
	30121.8 U S TREASURY I P S 0.500% 7/15/23		2013-08-12	2013-12-23
	40000. U S TREASURY NT 1.250% 10/31/15		2013-12-09	2013-12-24
	327.29 CONNECTICUT AVENUE 2.2382% 10/25/23		2013-11-14	2013-12-25
	1667.91 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-12-25
	76.86 F N M A #AP4266 3.500% 8/01/42		2013-07-15	2013-12-25
	295.06 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-12-25
	1149.67 F N M A #AQ9044 3.500% 12/01/42		2013-01-24	2013-12-25
	862.44 F N M A #AT9143 3.500% 7/01/43		2013-07-15	2013-12-25
	369.75 F N M A #AT9189 3.500% 7/01/43		2013-07-15	2013-12-25
	1235.62 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-12-25
	333.71 VIRGINIA ST HSG DE 3.250% 8/25/42		2013-03-11	2013-12-25
	100000. ALLY MASTER OWNER 1.720% 7/15/19		2013-01-04	2013-12-26
	45000. DELAWARE ST HSG AUTH 2.750% 12/01/41		2013-02-20	2013-12-26
	24379.34 CONNECTICUT AVENUE 2.2382% 10/25/23		2013-11-14	2013-12-26
	135354.83 F N M A #AJ5336 3.000% 11/01/26		2011-11-10	2013-12-26
	48360.88 F N M A #AP4509 3.000% 9/01/27		2013-01-15	2013-12-26
	66139.89 F N M A #AE0881 3.158% 2/01/41		2011-03-09	2013-12-26
	112505.86 ILLINOIS ST HSG 2.750% 6/01/43		2013-03-07	2013-12-26
	14267.23 MINNESOTA ST HSG 2.700% 9/01/41		2013-04-10	2013-12-26
	10000. MISSOURI ST HSG DEV 2.650% 11/01/40		2013-01-18	2013-12-26
	112022.02 VIRGINIA ST HSG DE 3.250% 8/25/42		2013-03-11	2013-12-26
	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	295,298	292,789	2,509
b	5,364	5,648	-284
c	174,121	172,948	1,173
d	455	477	-22
e	2,708	2,846	-138
	65,633	76,640	-11,007
	5,446	5,541	-95
	2,142	2,219	-77
	7,105	7,328	-223
	2,835	2,889	-54
	67,202	65,980	1,222
	145,882	144,319	1,563
	68,583	69,370	-787
	65,278	66,441	-1,163
	33,898	31,675	2,223
	14,085	14,522	-437
	51,273	52,839	-1,566
	41,972	38,829	3,143
	100,991	103,132	-2,141
	158,615	158,669	-54
	110,184	109,924	260
	218,928	199,000	19,928
	153,545	153,547	-2
	43,602	43,470	132
	21,617	21,341	276
	625	656	-31
	166,106	166,385	-279
	254,824	232,771	22,053
	4,855	4,936	-81
	2,461	2,598	-137
	252	268	-16
	412	430	-18
	4,077	4,218	-141
	7,347	7,571	-224
	2,571	2,619	-48
	64,136	62,641	1,495
	349,355	343,026	6,329
	114,471	111,917	2,554
	151,389	151,969	-580
	289,777	290,023	-246
	3,804	3,867	-63
	1,271	1,340	-69
	251	267	-16
	424	442	-18
	3,177	3,284	-107
	1,341	1,395	-54
	7,904	8,139	-235
	2,086	2,124	-38
	68,368	65,000	3,368
	76,360	65,000	11,360
	63,010	61,923	1,087
	37,499	35,850	1,649
	12,291	12,332	-41
	22,706	20,224	2,482
	29,853	27,344	2,509
	29,306	27,801	1,505
	39,386	39,365	21
	29,763	27,783	1,980
	36,677	34,383	2,294
	22,820	21,630	1,190
	21,618	22,049	-431
	21,266	20,180	1,086
	92,485	92,666	-181
	226,115	184,598	41,517
	61,320	60,000	1,320
	42,065	43,092	-1,027
	159,000	153,074	5,926
	3,748	3,808	-60
	838	882	-44
	3,176	3,367	-191
	176	183	-7
	3,629	3,748	-119
	937	974	-37
	8,086	8,319	-233
	2,496	2,541	-45
	21	21
	48,078	44,419	3,659
	83,714	93,896	-10,182
	2,999	3,046	-47
	1,025	1,078	-53
	2,130	2,256	-126
	2,775	2,863	-88
	2,126	2,207	-81
	6,843	7,035	-192
	1,913	1,947	-34
	378	378
	209,940	207,976	1,964
	140,060	133,664	6,396
	203	203
	41	41
	9,413	9,410	3
	43,444	43,523	-79
	227,708	230,675	-2,967
	151,889	146,839	5,050
	46,116	44,252	1,864
	147,872	148,245	-373
	321,163	323,842	-2,679
	673,605	750,000	-76,395
	64,919	65,000	-81
	4,114	4,176	-62
	1,276	1,339	-63
	918	971	-53
	4,993	5,149	-156
	1,366	1,416	-50
	6,779	6,964	-185
	2,482	2,525	-43
	771	771
	4,831	5,008	-177
	67,268	63,892	3,376
	14,526	15,025	-499
	59,938	64,284	-4,346
	208	208
	92	92
	27,432	28,196	-764
	16,664	17,096	-432
	24,283	25,000	-717
	146,485	152,980	-6,495
	314,439	328,000	-13,561
	325,138	329,859	-4,721
	143,163	140,797	2,366
	106,484	104,230	2,254
	3,398	3,448	-50
	324	340	-16
	243	257	-14
	2,863	2,966	-103
	1,397	1,421	-24
	606	606
	45,382	43,452	1,930
	259	259
	172	172
	360,577	360,067	510
	305,367	306,132	-765
	210,148	210,039	109
	41,827	41,324	503
	43,451	45,238	-1,787
	60,196	60,016	180
	40,389	39,817	572
	37,874	39,259	-1,385
	2,951	2,993	-42
	71	72	-1
	283	297	-14
	855	903	-48
	278	281	-3
	101	102	-1
	3,203	3,257	-54
	289	289
	75,222	77,293	-2,071
	67,438	65,275	2,163
	20,126	20,623	-497
	14,658	15,230	-572
	59,790	60,000	-210
	66,128	69,917	-3,789
	31,412	29,584	1,828
	40,576	37,962	2,614
	25,000	25,969	-969
	208	208
	94	94
	45,058	45,051	7
	30,246	30,248	-2
	60,204	60,205	-1
	35,884	36,651	-767
	14,487	15,151	-664
	65,223	65,220	3
	20,677	22,717	-2,040
	20,000	20,714	-714
	24,886	24,993	-107
	7,955	10,000	-2,045
	25,680	25,771	-91
	167,193	170,678	-3,485
	20,958	20,981	-23
	2,048	2,077	-29
	67	68	-1
	1,360	1,423	-63
	1,200	1,267	-67
	260	263	-3
	58	58
	3,330	3,385	-55
	155	155
	1,180	1,180
	154	154
	23,461	24,689	-1,228
	43,434	51,909	-8,475
	16,098	19,132	-3,034
	11,661	10,819	842
	20,695	24,829	-4,134
	16,585	20,117	-3,532
	17,525	16,224	1,301
	120,109	120,099	10
	225,606	225,619	-13
	100,215	100,213	2
	1,761	1,785	-24
	68	68
	344	359	-15
	914	964	-50
	987	997	-10
	54	55	-1
	1,821	1,850	-29
	424	424
	29,933	29,992	-59
	232	232
	121	121
	75,088	75,077	11
	19,000	18,657	343
	10,178	10,289	-111
	19,749	19,789	-40
	45,029	45,000	29
	16,488	16,811	-323
	10,017	9,949	68
	10,578	9,861	717
	9,899	9,795	104
	47,196	47,142	54
	9,987	10,118	-131
	17,154	17,145	9
	14,744	14,596	148
	26,025	26,103	-78
	70,746	62,487	8,259
	14,917	15,198	-281
	214,073	220,449	-6,376
	20,925	21,897	-972
	291,829	129,022	162,807
	6,572	6,721	-149
	20,814	21,282	-468
	49,552	48,434	1,118
	14,780	15,184	-404
	134,309	134,188	121
	20,000	19,963	37
	293	295	-2
	1,528	1,549	-21
	92	92
	278	291	-13
	1,301	1,372	-71
	296	299	-3
	58	58
	2,465	2,504	-39
	15,000	14,972	28
	104,482	104,795	-313
	19,732	20,251	-519
	205	205
	58	58
	32,711	32,987	-276
	71,138	74,946	-3,808
	152,005	153,556	-1,551
	34,376	34,686	-310
	35,447	35,309	138
	24,685	24,737	-52
	4,988	4,975	13
	19,961	19,898	63
	254,209	254,455	-246
	29,180	30,314	-1,134
	40,661	40,711	-50
	327	329	-2
	1,668	1,690	-22
	77	78	-1
	295	308	-13
	1,150	1,212	-62
	862	871	-9
	370	373	-3
	1,236	1,255	-19
	334	334
	100,269	100,003	266
	42,318	44,988	-2,670
	24,531	24,478	53
	138,304	137,141	1,163
	49,419	50,487	-1,068
	70,318	67,181	3,137
	103,449	112,506	-9,057
	13,047	14,267	-1,220
	9,348	10,000	-652
	107,096	112,022	-4,926
			13,660

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			2,509
b			-284
c			1,173
d			-22
e			-138
			-11,007
			-95
			-77
			-223
			-54
			1,222
			1,563
			-787
			-1,163
			2,223
			-437
			-1,566
			3,143
			-2,141
			-54
			260
			19,928
			-2
			132
			276
			-31
			-279
			22,053
			-81
			-137
			-16
			-18
			-141
			-224
			-48
			1,495
			6,329
			2,554
			-580
			-246
			-63
			-69
			-16
			-18
			-107
			-54
			-235
			-38
			3,368
			11,360
			1,087
			1,649
			-41
			2,482
			2,509
			1,505
			21
			1,980
			2,294
			1,190
			-431
			1,086
			-181
			41,517
			1,320
			-1,027
			5,926
			-60
			-44
			-191
			-7
			-119
			-37
			-233
			-45

			3,659
			-10,182
			-47
			-53
			-126
			-88
			-81
			-192
			-34

			1,964
			6,396


			3
			-79
			-2,967
			5,050
			1,864
			-373
			-2,679
			-76,395
			-81
			-62
			-63
			-53
			-156
			-50
			-185
			-43

			-177
			3,376
			-499
			-4,346


			-764
			-432
			-717
			-6,495
			-13,561
			-4,721
			2,366
			2,254
			-50
			-16
			-14
			-103
			-24

			1,930


			510
			-765
			109
			503
			-1,787
			180
			572
			-1,385
			-42
			-1
			-14
			-48
			-3
			-1
			-54

			-2,071
			2,163
			-497
			-572
			-210
			-3,789
			1,828
			2,614
			-969


			7
			-2
			-1
			-767
			-664
			3
			-2,040
			-714
			-107
			-2,045
			-91
			-3,485
			-23
			-29
			-1
			-63
			-67
			-3

			-55



			-1,228
			-8,475
			-3,034
			842
			-4,134
			-3,532
			1,301
			10
			-13
			2
			-24

			-15
			-50
			-10
			-1
			-29

			-59


			11
			343
			-111
			-40
			29
			-323
			68
			717
			104
			54
			-131
			9
			148
			-78
			8,259
			-281
			-6,376
			-972
			162,807
			-149
			-468
			1,118
			-404
			121
			37
			-2
			-21

			-13
			-71
			-3

			-39
			28
			-313
			-519


			-276
			-3,808
			-1,551
			-310
			138
			-52
			13
			63
			-246
			-1,134
			-50
			-2
			-22
			-1
			-13
			-62
			-9
			-3
			-19

			266
			-2,670
			53
			1,163
			-1,068
			3,137
			-9,057
			-1,220
			-652
			-4,926

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	146,853
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

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2012	785,480	16,173,947	0.048565
2011	806,240	15,957,780	0.050523
2010	788,679	15,532,504	0.050776
2009	714,449	14,460,380	0.049407
2008	921,596	16,368,203	0.056304

2	Total of line 1, column (d) ......................	2	0.255575
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	0.051115
4	Enter the net value of noncharitable-use assets for 2013 from Part X, line 5.....	4	17,215,195
5	Multiply line 4 by line 3.......................	5	879,955
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	4,018
7	Add lines 5 and 6.........................	7	883,973
8	Enter qualifying distributions from Part XII, line 4..............	8	818,987
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 (2013)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	8,036
	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	8,036
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	8,036
6	Credits/Payments:

a	2013 estimated tax payments and 2012 overpayment credited to 2013	6a	9,032
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c	3,238
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	12,270
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
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	4,234
11	Enter the amount of line 10 to be: Credited to 2014 estimated tax4,234	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of

the instructions for definition)?............................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c), and Part XV.

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2013 or the taxable year beginning in 2013 (see instructions for Part XIV)?

If "Yes," complete Part XIV.............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names and addresses.

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

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

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

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

Yes

Website address bullet

The books are in care of bullet

BROWN ADVISORY Telephone no. bullet

(410) 537-5562

Located at bullet

901 S BOND STREET SUITE 400BALTIMOREMD ZIP+4 bullet

21231

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

16 At any time during calendar year 2013, did the foundation have an interest in or a signature or other authority over YesNo

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 (2013)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?.........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...

Organizations relying on a current notice regarding disaster assistance check here......... bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2013?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2013, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2013?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?.........................YesNo

If "Yes," did it have excess business holdings in 2013 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 2013.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2013?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see instructions)........YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?........................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (2013)

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
BROWN ADVISORY	TRUSTEE 1	0
901 SOUTH BOND STREET SUITE 400 BALTIMORE,MD21231	TRUSTEE 1	0
CAROL S BRUDIN	TRUSTEE 1	23,224
6571 MINK HOLLOW ROAD HIGHLAND,MD20777	TRUSTEE 1	23,224

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

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 (2013)

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.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

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

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

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

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

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

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

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

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

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

860,760

Tax on investment income for 2013 from Part VI, line 5......

8,036

Income tax for 2013. (This does not include the tax from Part VI.)...

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

8,036

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

852,724

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

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

852,724

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

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

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

852,724

Part XII

Qualifying Distributions (see instructions)

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

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

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

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).................

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

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 (2013)

Page 8

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2012	(c) 2012	(d) 2013
1 Distributable amount for 2013 from Part XI, line 7					852,724
2 Undistributed income, if any, as of the end of 2013:
a Enter amount for 2012 only.......				0
b Total for prior years:2011, 20, 20			0
3 Excess distributions carryover, if any, to 2013:
a From 2008.......	109,970
b From 2009.......	497
c From 2010.......	20,047
d From 2011.......	15,189
e From 2012.......	0
fTotal of lines 3a through e.........		145,703
4Qualifying distributions for 2013 from Part
XII, line 4: $ 818,987
a Applied to 2012, 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 2013 distributable amount.....					818,987
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2013.		33,737			33,737
(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		111,966
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 2012. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2013. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2014 ..........					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 2008 not applied on line 5 or line 7 (see instructions) ...		76,233
9Excess distributions carryover to 2014. Subtract lines 7 and 8 from line 6a ......		35,733
10 Analysis of line 9:
a Excess from 2009....	497
b Excess from 2010....	20,047
c Excess from 2011....	15,189
d Excess from 2012....	0
e Excess from 2013....	0

Form 990-PF (2013)

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 2013, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2013	(b) 2012	(c) 2011	(d) 2010	(e) Total

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

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number 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 (2013)

Page 10

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
SEEING EYE INC P O BOX 375 MORRISTOWN,NJ07963	NONE	PUBLIC CHARITY	CHARITABLE	81,899
CHRIST LUTHERAN CHURCH 701 SOUTH CHARLES ST BALTIMORE,MD21230	NONE	PUBLIC CHARITY	GENERAL	163,797
THE SCOTTISH RITE FOUNDATION 3800 N CHARLES ST BALTIMORE,MD21218	NONE	PUBLIC CHARITY	CHILDHOOD LANGUAGE	81,899
SHRINERS HOSPITAL FOR CHILDREN 2900 ROCKY POINT DRIVE TAMPA,FL33607	NONE	PUBLIC CHARITY	MEDICAL	163,797
THE PROVIDENCE CENTER 930 POINT PLEASANT RD GLEN BURNIE,MD21060	NONE	PUBLIC CHARITY	CHARITABLE	81,899
JOHNS HOPKINS CHILDREN CENTER 1800 ORLEANS STREET BALTIMORE,MD21287	NONE	PUBLIC CHARITY	MEDICAL	122,848
NATIONAL FDN FOR THE BLIND 200 EAST WELLS STREET BALTIMORE,MD21230	NONE	PUBLIC CHARITY	MEDICAL	81,899
BELLO MACHRE 7765 GREENTOWN ROAD GLEN BURNIE,MD21060	NONE	PUBLIC CHARITY	CHARITABLE	40,949
Total ................................. 3a				818,987

bApproved for future payment

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

Form 990-PF (2013)

Page 11

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ............
4 Dividends and interest from securities....			14	364,691
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property .............
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory .............			18	146,853
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)..				555,974

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

13555,974

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2013)

Page 12

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political

Yes

organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

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

Form 990-PF (2013)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
CORPORATE BONDS	500,519	500,672
FIXED INCOME MUTUAL FUNDS	699,088	699,088
FOREIGN BONDS	24,316	24,838
MUNICIPAL BONDS	117,122	116,950
NONTAXABLE MUNI BONDS	152,956	149,230

Name of Stock	End of Year Book Value	End of Year Fair Market Value
COMMON STOCKS - DOMESTIC	7,664,357	12,689,095
EQUITY MUTUAL FUNDS	1,301,000	1,373,812
FOREIGN STOCKS	772,353	1,394,899
PREFERRED STOCKS
BALANCED FUNDS

Description	Amount
BASIS ADJUSTMENTS ON US TIPS	2,283
AMORTIZATION NOT OFFSET TO INT	2,833

Description	Revenue And Expenses Per Books	Net Investment Income
FEDERAL EXCISE TAX REFUND	769	0
PARTNERSHIP K-1S	43,085	12,211
WATER RIGHTS	576	0

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT FEES-PRIN	96,730	96,730
OTHER NON-ALLOCABLE EXPENSE -	42	42

Category	Amount	Net Investment Income
FEDERAL EXCISE TAX	8,411	0
QUARTERLY TAX DEPOSIT	3,096	0
FOREIGN TAXES ON QUALIFIED FOR	1,131	1,131