990-PF Or Section 4947( A)(1) Nonexempt Charitable Trust Foundation Treated As a Private 2010 Department of the Treasury Note

efile GRAPHIC p rint - DO NOT PROCESS As Filed Data - DLN: 9 3 491S1ZfUUllb1 OMB No 1545-0052 Return of Private Foundation Form 990-PF or Section 4947( a)(1) Nonexempt Charitable Trust Foundation Treated as a Private 2010 Department of the Treasury Note . The foundation may be able to use a copy of this return to satisfy state reporting requirements Internalal Revenue Service

For calendar year 2010 , or tax year beginning 01-01-2010 , and ending 12-31-2010

G Check all that apply ['Initial return r-Initial return ofa former public charity I Final return ['Amended return [-Address chan g e (Name change Name of foundation ` A Employer identification number r.Ewmg_Marion Kauffman Foundation 43-6064859

u e,epnone numoer tsee page iu or me insuucuonsl Number and street (or P 0 box number if mail is not delivered to street address) Room/suite 4801 Rockhill Road (816) 932-1000

City or town, state, and ZIP code C If exemption application is pending, check here ► r Kansas City, MO 641102046 D 1. Foreign organizations, check here n r

H Check type of organization 1_ Section 501(c)(3) exempt private foundation 2. Foreign organizations meeting the 85'/e test, ► r r check here and attach computation 1r- Section 4947 ( a )( 1 ) nonexem p t chartable trust I Other taxable p rivate foundation Ir E If pnvate foundation status was terminated I Fair market value of all assets at end I Accounting method F Cash Accrual under section 507(b)(1)(A), check here ► F of year (from Part II, col (c), r O the r (s pec ify ) _ F If the foundation is in a 60-month termination n line 1,892,243,801 (Part I, column (d) must be on cash basis under section 507 b 1 B , check here ► 1" (d) Disbursements Analysis of Revenue and Expenses (The (a) Revenue and (b) Net investment (c) Adjusted net for chartable C total of amounts in columns (b), (c), and (d) may not expenses per income income purposes necessarily equal the amounts in column (a) (see page 11 of books a the instructions) (cash basis only) U LJ - 1 Contributions, gifts, grants, etc , received (attach schedule) 600,000 C 2 Check ► r if the foundation is not required to attach Sch B U 3 Interest on savings and temporary cash investments 28,910,446 57,943,652 PIP 4 Dividends and interest from securities. . . . d 5a Gross rents ...... Net rental income or (loss) C b ,91q 6a Net gain or (loss) from sale of assets not on line 10 140,247,540

b Gross sales price for all assets on line 6a 1,504,052,937 ct) 7 Capital gain net income (from Part IV, line 2) . 102,901,513

(X 8 Net short-term capital gain ...... 9 Income modifications ......

10a Gross sales less returns and allowances UI b Less Cost of goods sold . . d c Gross profit or (loss) (attach schedule) . . .

CAM 11 Other income (attach schedule) ...... 2,242,957 14,589,446 1,049,096 172,000,943 175,434,611 1,049,096 W 12 Total. Add lines 1 through 11 ...... 13 Compensation of officers, directors, trustees, etc 1,595,757 1,595,757 14 Other employee salaries and wages . . . . 8,998,932 1,762,242 7,236,689 15 Pension plans, employee benefits . . . . . 4,247,497 325,829 3,921,668 16a Legal fees (attach schedule) ...... 782,104 34,990 0 747,114 b Accounting fees (attach schedule) ...... 120,216 37,763 0 82,453

C c Other professional fees (attach schedule) . . . . 34,319,607 19,968,116 14,351,491 17 Interest

18 Taxes (attach schedule) (see page 14 of the instructions) . ^ 9,232 300,368

19 Depreciation (attach schedule) and depletion 20 Occupancy ...... 5,544,212 5,544,212 21 Travel, conferences, and meetings . . . . . 5,151,270 55,053 5,096,217

22 Printing and publications ...... 365,378 46,536 318,842 23 Other expenses (attach schedule) ...... 4,160,202 21,004,281 3,699,550

24 Total operating and administrative expenses. Add lines 13 through 23 ...... 65,294,407 43,488,642 46,536 42,593,993

0 25 Contributions, gifts, grants paid ...... 41,426,880 40,826,880

26 Total expenses and disbursements . Add lines 24 and 25 106,721,287 43,488,642 46,536 83,420,873 27 Subtract line 26 from line 12

a Excess of revenue over expenses and disbursements 65,279,656

b Net investment income (if negative, enter -0-) 131,945,969 c Adjusted net income (if negative, enter-0-) 1,002,560 For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions . Cat No 11289X Form 990-PF (2010) Form 990-PF (2010) P. 0 7 Attached schedules and amounts in the description column Beginning of year End of year Ba lance Sheet s should be for end-of-year amounts only (See instructions) (a) Boo k Va lue ( b ) Book Value (c) Fair Market Value 1 Cash-non-interest-bearing ...... 2 Savings and temporary cash investments ...... 125,174,420 135,376,997 135,503,647

3 Accounts receivable n 285,655

Less allowance for doubtful accounts ► 45,330 285,655 285,655 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) POP

Less allowance for doubtful accounts ► 8 Inventories for sale or use ...... 9 Prepaid expenses and deferred charges .

10a Investments-U S and state government obligations (attach schedule) 46,189,323 9S 519,817 514,495 b Investments-corporate stock (attach schedule) ...... 755,505,410 Qffl 731,475,281 865,903,120

c Investments-corporate bonds (attach ...... 100,006,48, 0 06, 4822] 2,018,984 10,424,836 Investments-land, 11 buildings, and equipment basis ► Less accumulated depreciation (attach schedule) ► 12 Investments-mortgage loans ......

13 Investments-other (attach schedule) ...... 694,016,88 1 823,754,161 869,125,968

14 Land, buildings, and equipment basis ► Less accumulated depreciation (attach schedule) ► 7,586,060 15 Other assets (describe ► ) IN 5 10,486,080 10,486,080 16 Total assets (to be completed by all filers-see the

instructions Also, see page 1, item I) 1,638,523,906 1,703,916,975 1,892,243,801 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)

211,893 5 22 Other liabilities (describe ► ) 'IN 325,306

23 Total liabilities (add lines 17 through 22) 211,893 325,306 Foundations that follow SFAS 117, check here ► F and complete lines 24 through 26 and lines 30 and 31. u 24 U nrestricted ...... ej 25 Temporarily restricted "J 26 Permanently restricted Foundations that do not follow SFAS 117, check here 10' F r_ and complete lines 27 through 31. L6 27 Capital stock, trust principal, or current funds ...... 28 Paid-in or capital surplus, or land, bldg , and equipment fund

s 29 Retained earnings, accumulated income, endowment, or other funds 1,638,312,013 1,703, 591 , 669 s 30 Total net assets or fund balances (see page 17 of the

instructions) . 1,638,312,013 1,703,591,669 31 Total liabilities and net assets/ fund balances (see page 17 of

the instructions) ...... 1,638,523,906 1,703,916,975

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 1,638,312,013

2 Enter amount from Part I, line 27a ...... 2 65,279,656 3 Other increases not included in line 2 (itemize) ► 3 4 Add lines 1, 2, and 3 ...... 4 1,703,591,669 5 Decreases not included in line 2 (itemize) ► 5 6 Total net assets or fund balances at end of year (line 4 minus line 5)-Part II, column (b), line 30. 6 1,703,591,669 Form 990-PF (2010) Form 990-PF (2010) Pa g e 3 Capital Gains and Losses for Tax on Investment Income (b) How acquired (a) List and describe the kind ( s) of property sold (e g , real estate, ( c) Date acquired (d) Date sold P-Purchase 2-story brick warehouse , or common stock , 200 shs M LC Co ( mo , day , yr (mo , day, yr D-Donation la See Additional Data Table b C d e Depreciation allowed ( g) Cost or other basis ( h) Gain or (loss) (e) Gross sales price ( f) (or allowable ) plus expense of sale ( e) plus ( f) minus (g) a See Additional Data Table b C d e Complete only for assets showing gain in column ( h) and owned by the foundation on 12 /31/69 (1) Gains (Col (h) gain minus (j) Adjusted basis (k) Excess of col col (k), but not less than -0-) or (i) F M V as of 12/ 31/69 (i) as of 12 / 31/69 over col (j), if any Losses (from col (h)) a See Additional Data Table b C d e If gain , also enter in Part I, line 7 2 Capital gain net income or (net capital loss) If (loss), enter - 0- in Part I, line 7 1 2 102,901,513 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 pages 13 and 17 of the instructions) l If (loss ), enter - 0- in Part I , line 8 1( 3

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? F Yes F 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 Distnbutdion ratio Adjusted qualifying distributions Net value of nonchantable-use assets year (or tax year beginning in) (col (b) divided by col (c)) 2009 74,088,881 1,626,979,161 0 045538 2008 97,848,648 2,018,751,504 0 04847 2007 63,331,843 2,348,173,587 0 026971 2006 76,320,350 2,109,905,233 0 036172 2005 115,083,694 1,986,538,466 0 057932

2 Total of line 1, column (d) ...... 2 0 215083 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 043017

4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5. . . . . 4 1,720,333,632

5 Multiply line 4 by line 3 ...... 5 74,003,592

6 Enter 1% of net investment income (1% of Part I, line 27b)...... 6 1,319,460

7 Add lines 5 and 6 ...... 7 75,323,052

8 Enter qualifying distributions from Part XII, line 4 ...... 8 86,320,873 If line 8 is equal to or greater than line 7, check the box in PartVI, line 1b, and complete that part using a 1 % tax rate See the Part VI instructions on oaae 18 Form 990-PF (2010) Form 990-PF (2010) Pa g e 4 Excise Tax Based on Investment Income ( Section 4940 ( a), 4940 ( b), 4940( e), or 4948-see page 18 of the instructions)

la Exempt operating foundations described in section 4940(d)(2), check here ► r and 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 1,319,460

here ► Rand enter 1% of Part I, line 27b ...... c All other domestic foundations enter 2% of line 27b Exempt foreign organizations enter 4% of Part I, line 12, col (b) 2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) 2

3 Add lines 1 and 2 ...... 3 1,319,460 4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) 4

5 Tax based on investment income . Subtract line 4 from line 3 If zero or less, enter -0- . . . . . 5 1,319,460 6 Credits/Payments a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 2,000,000 b Exempt foreign organizations-tax withheld at source . . . . . 6b c Tax paid with application for extension of time to file (Form 8868) 6c 625,000 d Backup withholding erroneously withheld ...... 6d

7 Total credits and payments Add lines 6a through 6d ...... 7 2,625,000 8 Enter any penalty for underpayment of estimated tax Check here F if Form 2220 is attached Gs 8 9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed ...... n 9

10 Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid . . . ► 10 1,305,540 Enter the amount of line 10 to be Credited to 2011 estimated tax ,305,540 It ► 1 Refunded ► 11 Statements Re g ardin g Activities la During the tax year, did the foundation attempt to influence any national, state, or local legislation or did Yes No it participate or intervene in any political campaign? ...... la No b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of the instructions for definition )? ...... lb No If the answer is "Yes"to is or 1b, attach a detailed description of the activities and copies of any materials published or distributed by the foundation in connection with the activities. c Did the foundation file Form 1120-POL for this year' ...... lc No d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year

(1) O n the foundation ► $ (2) O n foundation managers ► $ e Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers ► $ 2 Has the foundation engaged in any activities that have not previously been reported to the IRS? ...... 2 No If "Yes," attach a detailed description of the activities. 3 Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments? If "Yes,"attach a conformed copy of the changes . . 3 Yes 4a Did the foundation have unrelated business gross income of$1,000 or more during the year?...... 4a Yes b If "Yes," has it filed a tax return on Form 990-T for this year? ...... 4b Yes S Was there a liquidation, termination, dissolution, or substantial contraction during the year' ...... 5 No If "Yes,"attach the statement required by General Instruction T IN 6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either • By language in the governing instrument, or • By state legislation that effectively amends the governing instrument so that no mandatory directions that conflict with the state law remain in the governing instrument' ...... 6 Yes

7 Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col (c), and Part XV 7 Yes 8a Enter the states to which the foundation reports or with which it is registered (see page 19 of the AL, CA, GA, MD, instructions) ► ID, KS, MA, MS, MO, NM, NC, OK, PA, SC, WV b If the answer is "Yes"to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state as required by General Instruction G' If "No,' attach explanation . 8b Yes 9 Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(3)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on page 27 )'' If "Yes," complete Part XIV ...... 9 No 10 Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names and addresses 10 No Form 990-PF (2010) Form 990-PF (2010) Pa g e 5 WN&VIEW Statements Re g ardin g Activities (continued) 11 At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the meaning ofsection 512(b)(13)'' If"Yes," attach schedule (see page 20 ofthe instructions)...... 11 No 12 Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 20087 12 No

13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? 13 Yes Website address 10, www kauffman org

14 The books are in care of' NANCY MCCULLOUGH Telephone no ! (816 ) 932-1000

Located at ' 4801 ROCKHILL ROAD KANSAS CITY MO ZIP+4 641102046

15 Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 -Check here ...... i r- and enter the amount of tax-exempt interest received or accrued during the year ...... ` I 15

16 At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over a bank, securities, or other financial account in a foreign country? ...... 16 Yes

See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22 1 If "Yes", enter the name of the foreign country ► BR Statements Re g ardin g Activities for Which Form 4720 Ma y Be Re q uired File Form 4720 if any item is checked in the " Yes" column, unless an exception applies. Yes No la 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? F Yes F No (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? ...... F Yes F No (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? F Yes F No (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? F Yes F No (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)? ...... F Yes F No (6) Agree to pay money or property to a government official? ( Exception . Check "No" if the foundation agreed to make a grant to orto employ the official for a period after termination of government service, if terminating within 90 days )...... F_ Yes F No b If any answer is "Yes" to 1a(1)-(6), did any of the acts fail to qualify under the exceptions described in Regulations section 53 4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?. . . lb No

Organizations relying on a current notice regarding disaster assistance check here...... ► r c Did the foundation engage in a prior year in any of the acts described in la, other than excepted acts, that were not corrected before the first day of the tax year beginning in 20 107 ...... lc No 2 Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private operating foundation defined in section 4942(j)(3) or 4942(j)(5)) a At the end of tax year 2010, did the foundation have any undistributed income (lines 6d and 6e, Part XIII) for tax year(s) beginning before 20107 ...... F Yes F No If "Yes," list the years i 20_ , 20_ , 20_ , 20_ b Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income' (If applying section 4942(a)(2) to all years listed, answer "No" and attach statement-see page 20 of the instructions ) ...... 2b c Ifthe provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here 001 20_ , 20_ , 20_ , 20 3a Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? ...... F Yes F_ No b If"Yes," did it have excess business holdings in 2010 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 of the foundation had excess business holdings in 2010 )...... 3b No 4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? 4a No b Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 20107 4b No Form 990-PF (2010) Form 990-PF (2010) Pa g e b Statements Reaardina Activities for Which Form 4720 May Be Required (continued) 5a During the year did the foundation pay or incur any amount to (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945 (e))' r Yes F No (2) Influence the outcome of any specific public election (see section 4955), or to carry on, directly or indirectly, any voter registration drivel ...... F Yes F No (3) Provide a grant to an individual for travel, study, or other similar purposes? F Yes F- No (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 page 22 of the instructions). . . F Yes r No (5) Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals ?...... f Yes F No b If any answer is "Yes" to 5a(1)-(5), did any of the transactions fail to qualify under the exceptions d escribed in Regulations section 53 4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)? 5b No Organizations relying on a current notice regarding disaster assistance check here...... Jib, c Ifthe answer is "Yes" to question 5a(4), does the foundation claim exemption from the tax because it maintained expenditure responsibility for the grant? ...... F Yes F- No If "Yes," attach the statement required by Regulations section 53.4945-5(d). 6a Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract' ...... F Yes F No b Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?. . . . 6b No If "Yes "to 6b, file Form 8870. 7a At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction2 r Yes F No b If yes, did the foundation receive any proceeds or have any net income attributable to the transaction . . . . 7b Information About Officers, Directors, Trustees, Foundation Managers , Highly Paid Employees, and Contractors 1 List all officers- directors - trustees- foundation manners and their eornnensation fsee oaoe 22 of the instructionsl. (b) Title, and average (c) Compensation (d) Contributions to (e) Expense account, (a) Name and address hours per week ( If not paid, enter employee benefit plans other allowances devoted to position -0-) and deferred compensation See Additional Data Table

2 Compensation of five highest-paid employees (other than those included on line 1-see page 23 of the instructions). If none. enter" NONE." (d) Contributions to (b) Title, and average (a) Name and address of each employee employee benefit (e) Expense account, hours per week (c) Compensation paid more than $50,000 plans and deferred other allowances devoted to position compensation

Total number of other employees paid over $50,000 ...... ► 69 Form 990-PF (2010) Form 990-PF (2010) Page I Information About Officers , Directors, Trustees , Foundation Managers, Highly Paid Employees, EMNIM and Contractors (continued) Pi.. hinh . t _ nw;A ;nd.nondnnt rootraet^rc for nrnf&cninnat services (see nacre 23 of the instructions) . If none . enter "NONE". (a) Name and address of each person paid more than $50,000 (b) Type ofservice (c) Compensation Driehaus Capital Management LLC Investment Mgmt Serv 3,245,277 PO Box 10127 CHICAGO,IL 606100127 Bretton Woods Group Investment Mgmt Serv 2,234,279 PO Box 27207 OVERLAND PARK,KS 66225 General Atlantic Partners Investment Mgmt Serv 1,801,260 3 Pickwick Plaza Suite 200 GREENWICH,CT 06830 Enervest Energy Fund X Investment Mgmt Serv 1,666,647

1001 Fannin Street Suite 800 HOUSTON,TX 770026707 Encap Energy Capital Fund VI B Investment Mgmt Serv 980,509

1100 Louisiana Street Suite 3150 HOUSTON,TX 77002 105 Total number of others re ceiving over $50 , 000 for p rofessional services. ► Summary of Direct Charitable Activities

List the foundation's four largest direct chartable activities during the tax year Include relevant statistical information such as the number of Expenses organizations and other beneficiaries served, conferences convened, research papers produced, etc 1

Summary of Pro g ram-Related Investments ( see p a g e 24 of the instructions ) Describe the two largest program - related investments made by the foundation during the tax year on lines 1 and 2 A mount 1PROGRAM-RELATED INVESTMENT TO HELP ATTRACT TENANTS TO UNION STATION IN KANSAS CITY, 2,900,000 MO 2

All other program- related investments See page 24 of the instructions 3

Total .Add lines 1 throu g h 3. ► 2,900,000 Form 990-PF (2010) Form 990-PF (2010) Pa g e 8 Minimum investment Return (All domestic foundations must complete this part. Foreign foundations, see pa g e 24 of the instructions. ) 1 Fair market value of assets not used (or held for use) directly in carrying out charitable, etc purposes a Average monthly fair market value of securities ...... la 818,447,444 b Average of monthly cash balances ...... lb 112,764,774 c Fair market value of all other assets (see page 24 of the instructions)...... 1c 815,319,388 d Total (add lines 1a, b, and c) ...... ld 1,746,531,606 e Reduction claimed for blockage or other factors reported on lines la and 1c (attach detailed explanation)...... le 2 Acquisition indebtedness applicable to line 1 assets ...... 2 0 3 Subtract line 2 from line ld ...... 3 1,746,531,606 4 Cash deemed held for charitable activities Enter 1 1/2% of line 3 (for greater amount, see page 25 of the instructions) ...... 4 26,197,974 5 Net value of noncharitable -use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4 5 1,720,333,632 6 Minimum investment return . Enter 5% of line 5...... 6 86,016,682 Distributable Amount (see page 25 of the instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain forei g n or anizations check here ► r and do not com p lete this art. 1 Minimum investment return from Part X, line 6 ...... 1 86,016,682 2a Tax on investment income for 2010 from Part VI, line 5...... 2a 1,319,460 b Income tax for 2010 (This does not include the tax from Part VI ). . 2b c Add lines 2a and 2b ...... 2c 1,319,460 3 Distributable amount before adjustments Subtract line 2c from line 1...... 3 84,697,222 4 Recoveries of amounts treated as qualifying distributions ...... 4 243,064 5 Add lines 3 and 4 ...... 5 84,940,286 6 Deduction from distributable amount (see page 25 of the instructions)...... 6 7 Distributable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII, line 1...... 7 84,940,286

Qualifying Distributions (see page 25 of the instructions)

1 Amounts paid (including administrative expenses) to accomplish charitable, etc , purposes a Expenses, contributions, gifts, etc -total from Part I, column (d), line 26...... is 83,420,873 b Program- related investments-total from Part IX-B ...... lb 2,900,000 2 Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc , purposes ...... 2 0 3 Amounts set aside for specific charitable projects that satisfy the a Suitability test (prior IRS approval required) ...... 3a 0 b Cash distribution test (attach the required schedule) ...... 3b 0 4 Qualifying distributions. Add lines la through 3b Enter here and on Part V, line 8, and Part XIII, line 4 4 86,320,873 5 Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment income Enter 1% of Part I, line 27b (see page 26 of the instructions)...... 5 1,319,460 6 Adjusted qualifying distributions . Subtract line 5 from line 4 ...... 6 85,001,413 Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating wheth er the foundation qualifies for the section 4940(e) reduction of tax in those years Form 990-PF (2010) Form 990-PF (2010) Pa g e 9 Undistributed Income ( see page 26 of the instructions (a) (b) (c) (d) Corpus Years prior to 2009 2009 2010 1 Distributable amount for 2010 from Part XI, line 7 84,940,286 2 Undistributed income, if any, as of the end of2010 a Enter amount for 2009 only...... 0 b Total for prior years 2008 , 2007 , 2006 0 3 Excess distributions carryover, if any, to 2010 a From 2005. . . . 0 b From 2006. . . . 0 c From 2007. . . . . 0 d From 2008. . . . 0 e From 2009. . . . . 60,676,247 f Total of lines 3a through e...... 60,676,247 4 Qualifying distributions for 2010 from Part 86,320,873 XII, line 4 ► $ a Applied to 2009, but not more than line 2a 0 b Applied to undistributed income of prior years (Election required- see page 26 of the instructions) c Treated as distributions out of corpus (Election 86,920,872 required- see page 26 of the instructions). . . d Applied to 2010 distributable amount. . . . . e Remaining amount distributed out of corpus 0 5 Excess distributions carryover applied to 2010 84,940,286 84,940,286 (If an amount appears in column (d), the same amount must be shown in column (a).) 6 Enter the net total of each column as indicated below: a Corpus Add lines 3f, 4c, and 4e Subtract line 5 62,656,833 b Prior years' undistributed income Subtract line 4b from line 215 ...... 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...... d Subtract line 6c from line 6b Taxable amount- see page 27 of the instructions . . . 0 e Undistributed income for 2009 Subtract line 4a from line 2a Taxable amount-see page 27 of the instructions ...... 0 f Undistributed income for 2010 Subtract lines 4d and 5 from line 1 This amount must be distributed in 2011 . 0 7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or4942(g)(3) (see page 27 of the instructions) ...... 8 Excess distributions carryover from 2005 not applied on line 5 or line 7 (see page 27 of the instructions) ...... 9 Excess distributions carryover to 2011. Subtract lines 7 and 8 from line 6a ...... 62,656,833 10 Analysis of line 9 a Excess from 2006. . . . 0 b Excess from 2007. . . . 0 c Excess from 2008. . . . 0 d Excess from 2009. . . . 0 e Excess from 2010. 62,656,833 Form 990-PF (2010) Form 990 -PF (2010 la If the foundation has received a ruling or determination letter that it is a private operating foundation , and the ruling is effective for 2010, enter the date of the ruling. . . . . Check box to indicate whether the organization is a private operating foundation described in section r 4942(j)(3) or r- 4942(1)(5) 2a Enter the lesser of the adjusted net Tax year Prior 3 years income from Part I or the minimum (e) Total (a) 2010 (b) 2009 (c) 2008 (d) 2007 investment return from Part X for each year listed ...... b 85% of line 2a ...... c Qualifying distributions from Part XII, line A for each year I is t e d . . . . . 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(I)(3)(B)(iii). . . . (3) Largest amount of support from an exempt organization (4) Gross investment income Supplementary Information ( Complete this part only if the organization had $5, 000 or more in assets at any time during the year -see page 27 of the instructions.) 1 Information Regarding Foundation Managers: a List 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) )

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

NON

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

Check here if the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited requests forfunds If the foundation makes gifts, grants, etc (see page 28 of the instructions) to individuals or organizations under other conditions, complete items 2a, b, c, and d

a The name, address, and telephone number of the person to whom applications should be addressed SEE ATTACHMENT D 4801 ROCKHILL ROAD KANSAS CITY,MO 64110 (816)932-1000 b The form in which applications should be submitted and information and materials they should include SEE ATTACHMENT D c Any submission deadlines NONE

d Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors SEE ATTACHMENT D Form 990-PF (2010) Form 990-PF (2010) Pa g e 11 Supplementary Information (continued) 3 Grants and Contributions Paid During the Year or Approved for Future Payment If recipient is an individual, Recipient Foundation show any relationship to Purpose of grant or status of A moun t any foundation manager contribution Name and address (home or business) recipient or substantial contributor a Paid during the year See Additional Data Table

Total. 3a 41,426,880 b Approved for future payment See Additional Data Table

Total. .1110, 3b 63,999,861 Form 990-PF (2010) Form 990-PF (2010) Pa g e 12 MINNOW Anal y sis of Income - Producing Activities

Enter gross amounts unless otherwise indicated Unrelated b usiness income Excluded by section 512, 513, or 514 (e) Related or exempt function income (a) (b) (c) (d ) (See page 28 of 1 Program service revenue Business code Amount Exclusion code Amount the instructions a RETURN OF UNUSED GRANT FUNDS 01 243,066 b CONTRIBUTIONS RECEIVED 13 600,000 KAUFFMAN SUPPORT SERVICES - LOAN 01 5,944 c INTEREST d ROYALTIES & HONORARIUMS 15 30,561 e OTHER REVENUE/SALES 01 802,949 f g Fees 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 28,910,446 5 Net rental income or (loss ) from real estate a Debt - financed property...... b Not 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 18 140,247,540 9 Net income or (loss ) from special events 10 Gross profit or ( loss) from sales of inventory. 11 Other revenue a FED & STATE TAX REFUNDS 01 501,519 b STATE ST RECAP 01 26 c CURRENCY GAIN 01 519,181 d REFUND OF MANAGEMENT FEES 01 139,711 e 12 Subtotal Add columns ( b), (d), and ( e). . 171 ,157,877 843,066 13 Total . Add line 12, columns ( b), (d), and ( e) ...... c ...... 13 172 , 000,943 See worksheet in line 13 instructions on p a g e 2 8 to veri fy Relationshi p of Activities to the Accom p lishment of Exem pt Pur p oses Explain below how each activity for which income is reported in column ( e) of Part XVI-A contributed importantly to Line No. the accomplishment of the organization 's exempt purposes ( other than by providing funds for such purposes) (See page 28 of the instructions la return on unused funds lb CONTRIBUTIONS RECEIVED

Form 990-PF (2010) Form 990-PF (2010) Pa g e 13 Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exem pt Or g anizations 1 Did the organization directly or indirectly engage in any of the following with any other organization described in section Yes No 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations? a Transfers from the reporting foundation to a noncharitable exempt organization of (1) Cash ...... la(1) Yes (2) Other assets ...... la(2) No b Other transactions (1) Sales of assets to a noncharitable exempt organization ...... lb(1) No (2) Purchases of assets from a nonchantable exempt organization ...... lb(2) No (3) Rental of facilities, equipment, or other assets ...... lb(3) No

(4) Reimbursement arrangements ...... lb(4) No (5) Loans or loan guarantees ...... lb(5) No (6) Performance of services or membership or fundraising solicitations ...... lb(6) No c Sharing of facilities, equipment, mailing lists, other assets, or paid employees ...... 1c No d If the answer to any of the above is "Yes," complete the following schedule Column (b) should always show the fair market value of the goods, other assets, or services given by the reporting foundation If the foundation received less than fair market value in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services recei ved

2a Is the foundation directly or indirectly affiliated with, or related to , one or more tax-exempt organizations described in section 501 ( c) of the Code (other than section 501 ( c)(3)) or in section 527 7...... r'Yes F No b If"Yes," complete the following schedule (a) Name of organization I (b) Type of organ iza tion I (c ) Description of relationship

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 ****** 12011-11-11 ****** Signature of officer or trustee Date Title

At ` Preparer ' s Anne Walker co Signature r 05 Q Firm' s name P JM W & ASSOCIATES LLC

D 6400 Glenwood Suite 100 Firm's address n Overland Park, KS 66202 efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261 Schedule B Schedule of Contributors OMB No 1545-0047 (Form 990 , 990-EZ, or 990-PF) ► Attach to Form 990, 990-EZ, or 990 -PF. Deperr erd of the Treasury 2010 Internal Revenue Seruce Name of organization Employer identification number Ewing Marion Kauffman Foundation 43-6064859 Organization type (check one)

Filers of: Section:

Form 990 or 990-EZ r 501(c)( ) ( enter number) organization

l- 4947( a)(1) nonexempt charitable trust not treated as a private foundation

r 527 political organization

Form 990-PF F 501(c)(3) exempt private foundation

r 4947( a)(1) nonexempt charitable trust treated as a private foundation

r 501(c )(3) taxable private foundation

Check If your organization is covered by the General Rule or a Special Rule. Note . Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule See Instructions

General Rule-

F For an organization filing Form 990, 990-¢, or 990-PF that received, during the year, $5,000 or more (in money or property) fromany one contributor Complete Parts land II

Special Rules

r For a section 501(c)(3) organization filing Form 990 or 990-EZ, that met the 331/3% support test of the regulations under sections 509(a)(1) and 170(b)(1)(A)(vi), and received from any one contributor, during the year, a contribution of the greater of (1) $5,000 or (2) 2% of the amount on (I) Form 990, Part VIII, line 1 h, or (ii) Form 990-EZ, line 1 Complete Parts I and II

r For a section 501(c)(7), (8), or (10) organization filing Form 990, or 990-EZ, that received from any one contributor, during the year, aggregate contributions of more than $1,000 for use exclusively for religious, charitable, scientific, literary, or educational purposes, or the prevention of cruelty to children or animals Complete Parts I, II, and III

r For a section 501(c)(7), (8), or (10) organization filing Form 990, or 990-EZ, that received from any one contributor, during the year, contributions for use exclusively for religious, charitable, etc , purposes, but these contributions did not aggregate to more than $1,000 If this box is checked, enter here the total contributions that w ere received during the year for an exclusively religious, charitable, etc , purpose Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc , contributions of $5,000 or more during the year ...... ► $

Caution . An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990, 990-EZ, or 990-PF), but it must answer "No" on Part IV, line 2 of its Form 990, or check the box on lin H of Its Form 990-¢, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990, 990-EZ, or 990-PF)

For Paperwork Reduction Act Notice, see the Instructions Cat No 30613X Schedule B (Form 990, 990-EZ. or 990-PF ) (2010) for Form 990, 990 -EZ, or 990-PF Schedule B (Form 990 , 990-EZ, or 990 -PF) (2010) Page 1 of 1 of Part I Name of organization Employer identification number Ewing Marion Kauffman Foundation 43-6064859

Contributors (see Instructions)

(a) (b) (c) (d) No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

Person r A rthur Carlyse Ciocca Charitable Pay roll r 315 Montgomery St Fl 9 $ 600,000 Noncash r

San Francisco, CA 941041858 (Complete Part II f there is a noncash contribution

(a) (b) (c) (d) No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

--- Person r Payroll r $ Noncash r

(Complete Part II if there is a noncash contribution

(a) (b) (c) (d) No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

Person r Payro ll r $ Noncash r

(Complete Part II if there is a noncash contribution )

(a) (b) (c) (d) No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

--- Person r Payroll $ Noncash r

(Complete Part II if there is a noncash contribution

(a) (b) (c) (d) No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

---- Person r Payroll r $ Noncash r

(Complete Part II if there is a noncash contribution )

(a) (b) (C) (d) No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

--- Person r Payroll r $ Noncash r

(Complete Part II if there is a noncash contribution )

Schedule B (Form 990, 990 -EZ, or 990-PF) (2010) Schedule B (Form 990 , 990-EZ, or 990 -PF) (2010) Page 1 of 1 of Part II Name of organization Employer identification number Ewing Manon Kauffman Foundation

Noncash Property (see Instructions)

(a) No. (b) (c) (d) from FMV (or estimate) Description of noncash property given Date received Part I (see instructions)

(a) No. b (c) d from ( ) FMV (or estimate) ( ) Description of noncash property given Date received Part I (see instructions)

(a) No. (b) (c) (d) from FMV (or estimate) Description of noncash property given Date received Part I (see instructions)

(a) No. b (c) d from ( ) FMV (or estimate) ( ) Description of noncash property given Date received Part I (see instructions)

(a) No. b (c) from ( ) FMV (or estimate) (d) Description of noncash property given Date received Part I (see instructions)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010) Schedule B (Form 990 , 990-FZ, or 990 -PF) (2010) Page 1 of 1 of Part III

Name of organization Employer identification number Ewing Marion Kauffman Foundation 43-6064859 Exclusively religious, charitable , etc., individual contributions to section 501(c)(7), (8), or ( 10) organizations aggregating more than $ 1,000 for the year . (Complete columns (a) through ( e) and the following line entry For organizations completing Part III, enter the total of exclusively religious, charitable, etc , contributions of $1,000 or less for the year (Enter this information once See instructions ► $ (a) No. (b) (c) (d) from Part I Purpose of gift Use of gift Description of how gift is held

(e) Transfer of gift Transferee's name, address, and ZIP + 4 Relationship of transferor to transferee

(a) No. (b) (c) (d) from Part Purpose of gift Use of gift Description of how gift is held

(e) Transfer of gift Transferee's name, address, and ZIP + 4 Relationship of transferor to transferee

(a) No. (b) (c) (d) from Part Purpose of gift Use of gift Description of how gift is held

(e) Transfer of gift Transferee's name, address, and ZIP + 4 Relationship of transferor to transferee

(a) No. (b) (c) from (d) Part I Purpose of gift Use of gift Description of how gift is held

(e) Transfer of gift Transferee's name, address, and ZIP + 4 Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990 -PF) (2010) Additional Data

Software ID: Software Version: EIN: 43 -6064859 Name : Ewing Marion Kauffman Foundation

Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns a - d

(a) List and describe the kind ( s) of property sold (e g , real estate, (b) How acquired ( c) Date acquired ( d) Date sold 2-story brick warehouse , or common stock , 200 shs M LC Co P-Purchase ( mo , day, yr (mo , day, yr D-Donation

A CASH ACCOUNT

B HARRIS ASSOCIATES

C BLEICHROEDERAD LLC

D PIMCO

E FRIESS

F AMERICAN CENTURY

G LORD ABBETT

H DONALD SMITH

I RREEF REIT REAL ESTATE

I STATE STREET GLOBAL ADVISORS

K BRIDGEWAY

L ALETHIA RESEARCH & MANAGEMENT

M FDE AGRESSOR

N FDE AGENOR

0 BROADBAND CAPITAL

P DRIEHAUS

Q FIRST WILSHIRE

R PYRAMIS

S SSGA GLOBAL ALPHA MAX

T MARINER

U BROKERACCOUNTS

V IP MORGAN

W PARTNERSHIPS

X ABINGWORTH IIA

Y ABINGWORTH IIIB

Z ACCENT EQUITY 2003

AA ADVENT GLOBAL PRIVATE EQUITY III LP

AB ADVENT GLOBAL PRIVATE EQUITY IV-A LP

AC APOLLO INVESTMENT FUND IV, LP AD ARCH VENTURE FUND III, LP Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns a - d

(a) List and describe the kind (s) of property sold (e g , real estate , ( b) How acquired ( c) Date acquired ( d) Date sold 2-story brick warehouse , or common stock, 200 shs MLC Co P-Purchase ( mo , day, yr) (mo , day, yr D-Donation

AE ARCH VENTURE FUND IV, LP

AF ARCH VENTURE FUND VI, LP

AG AVENUE ASIA SPECIAL FUND IV

AH AVENUE ASIA SPECIAL FUND V

AI BENCHMARK CAPITAL PARTNERS IV, LP

A] BENCHMARK CAPITAL PARTNERS V, LP

AK BENCHMARK CAPITAL PARTNERS VI, LP

AL BESSEMER VENTURE PARTNERS VII INSTITUTIONAL LP

AM BLACK BEAR OFFSHORE FUND LIMITED

AN BLACKTHORN PARTNERS, L P

AO CAHILL WARNOCK STRATEGIC PARTNERS FUND, LP

AP CA RMEL VENTURES II, LP

AQ CASTLE HARLAN PARTNERS III, LP

AR CASTLE HARLAN PARTNERS IV, LP

AS CIPEFIV

AT COURT SQUARE VENTURES II

AU ENCAP ENERGY CAPITAL FUND V-B, LP

AV EUROPEAN SECONDARY DEVELOPMENT FUND III, LP

AW EUROPEAN SECONDARY DEVELOPMENT FUND IV, LP

AX FLYWHEEL I LP

AY FORUM ASIAN REALITY INCOME II, L P

AZ FRANCE PRIVATE EQUITY III (AKA BUTLER)

BA GENERAL ATLANTIC BRAZIL FUNDO DE INVESTIMENTO EN PARTICIPACOES

BB GENERAL ATLANTIC PARTNERS 87, L P

BC GENERAL ATLANTIC PARTNERS (BERMUDA) L P

BD GREAT POINT DEVELOPERS

BE HAWKEYE CAPITAL INSTITUTIONAL LP

BF HIGHFIELDS CAPITAL IV LP

BG INTERSOUTH PARTNERS IV

BH INTERSOUTH PARTNERS V Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns a - d

(a) List and describe the kind (s) of property sold (e g , real estate , ( b) How acquired ( c) Date acquired (d) Date sold 2-story brick warehouse , or common stock , 200 shs M LC Co P-Purchase (mo , day, yr (mo , day, yr D-Donation

BI INTERSO UTH PARTNERS V I

BI INTERSOUTH PARTNERS VII

BK ] H WHITNEY III, LP

BL I H WHITNEY IV, LP

BM I H WHITNEY VI AIV, LP

BN I W CHILDS EQUITY PARTNERS III, LP

BO IP MORGAN INCUBATOR FUND

BP K A ENERGY FUND III (QP), LP

BQ K A ENERGY FUND IV (QP), LP

BR LINDEN CAPITAL PARTNERS LP

BS LODH (LOMBARD OLDIER) PRIVATE EQUITY-EURO CHOICE II LP

BT MADRONA VENTURE FUND IV, LP

BU MATLINPATTERSON GLOBAL OPPORTUNITIES

BV MATLINPATTERSON GLOBAL OPPORTUNITIES III

BW MATRIX PARTNERS VII, L P

BX MAYFIELD XI

BY MEADOWBROOK REAL ESTATE FUND, LLC

BZ MERIT ENERGY PARTNERS E-II, LP

CA MERIT ENERGY PARTNERS F-II, LP

CB MERITECH CAPITAL PARTNERS

CC MPGOP III AC AV-III LP

CD MPM BIOVENTURES III QP, LP

CE MPM BIOVENTURES IV QP, LP

CF OAK INVESTMENT PARTNERS IX, LP

CG OAK INVESTMENT PARTNERS VII, LP

CH OAK INVESTMENT PARTNERS VIII, LP

CI OAK INVESTMENT PARTNERS X, LP

Cl OAK INVESTMENT PARTNERS XI, LP

CK OAK INVESTMENT PARTNERS XII, LP

CL OCM / GFI POWER OPPORTUNITIES FUND II Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns a - d

(a) List and describe the kind(s) of property sold (e g , real estate , (b) How acquired (c) Date acquired (d) Date sold 2-story brick warehouse , or common stock, 200 shs M LC Co) P-Purchase (mo , day, yr (mo , day, yr ) D-Donation

CM OCM OPPORTUNITIES FUND II, LP

CN OCM OPPORTUNITIES FUND III, LP

CO OCM OPPORTUNITIES FUND IV, LP

CP OCM OPPORTUNITIES FUND, LP

CQ PACVEN WALDEN VENTURES IV, LP

CR PAUL CAPITAL ROYALTY FUND II, LP

CS PROLOG CAPITAL II, LP

CT QUANTUM ENERGY PARTNERS III, LP

CU QUANTUM ENERGY PARTNERS IV, LP

CV QUANTUM RESOURCES Al LP

CW RIVERSIDE FUND III

CX RIVERSIDE FUND IV

CY ROSEMONT PARTNERS II, LP

CZ SIERRA VENTURES VII, LP

DA TGP CAPITAL PARTNERS, LLC

DB US VENTURE PARTNERS IV, LP

DC US VENTURE PARTNERS IX, LP

DD US VENTURE PARTNERS V, LP

DE US VENTURE PARTNERS VI, LP

DF US VENTURE PARTNERS VII, LP

DG US VENTURE PARTNERS VIII, LP

DH USPF FEEDER II LEVERAGED FEEDER

DI USPF FEEDER III LEVERAGED FEEDER

DI VENROCK ASSOCIATES II, LP

DK VENROCK ASSOCIATES III, LP

DL WESTON PRESIDIO CAPITAL III, LP Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns e - h

(e) Gross sales price (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (or allowable) plus expense of sale (e) plus (f) minus (g)

A 19,123,931 19,506,487 -382,556

B 32,254,915 29,815,638 2,439,277

C 13,277,114 10,437,7 52 2,839,362

D 278,916,696 270,758,666 8,158,030

E 57,784,634 53,305,016 4,479,618

F 5,537 5,569 -32

G 15,421,653 12,490,336 2,931,317

H 17,052,681 16,881,863 170,818

I 0 31 -31

] 73 0 73

K 100,194,137 88,016,121 12,178,016

L 62,590,977 66,446,077 -3,855,100

M 20,081,428 19,096,287 985,141

N 46,599,274 43,586,166 3,013,108

0 187,475 187,500 -25

P 507,538,404 478,941,824 28,596,580

Q 9,282,145 5,130,899 4,151,246

R 154,895,133 143,387,042 11,508,091

S 93,771,735 91,287,244 2,484,491

T 44,828,231 38,900,495 5,927,736

V 1,311,502 1,395,109 -83,607

X 4,227 4,227

Y 0 11,269 -11,269

Z 4,819,342 0 4,819,342

AA 156,619 0 156,619

AB 0 4,376 -4,376

AC 127,346 0 127,346

AD 0 30,140 -30,140 Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns e - h

(e) Gross sales price ( f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (or allowable ) plus expense of sale (e) plus (f) minus (g)

AE 0 307,076 -307,076

AF 0 10,111 -10,111

AG 523,958 0 523,958

AH 626,671 0 626,671

Al 0 1,110,480 -1,110,480

AJ 0 124,887 -124,887

AK 0 86,512 -86,512

A L 606,454 0 606,454

AM 121,513 0 121,513

AN 5,568 0 5,568

AO 0 166,372 -166,372

AP 0 78,186 -78,186

AQ 0 618,769 -618,769

A R 87,300 0 87,300

AS 0 241,479 -241,479

AT 0 998,003 -998,003

AU 393,642 0 393,642

AV 335,042 0 335,042

AW 117,192 0 117,192

AX 6,485 0 6,485

AY 829,482 0 829,482

AZ 77 0 77

BA 2,347,614 0 2,347,614

BB 139,039 0 139,039

BC 360,708 0 360,708

BD 17,242 0 17,242

BE 1,606 ,527 0 1,606,527

BF 0 948,293 -948,293

BG 211,573 0 211,573

BH 0 165,920 -165,920 Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns e - h

(e) Gross sales price (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (or allowable) plus expense of sale (e) plus (f) minus (g)

BI 46,813 0 46,813

BI 0 224,104 -224,104

BK 0 282,170 -282,170

BL 0 296,106 -296,106

BM 0 535,694 -535,694

BN 1,654,411 0 1,654,411

BO 227,557 0 227,557

BP 150,258 0 150,258

BQ 391,087 0 391,087

BR 0 1,238,257 -1,238,257

BS 49,226 0 49,226

BT 874,367 0 874,367

BU 0 259,816 -259,816

BV 927,789 0 927,789

BW 244,328 0 244,328

BX 0 88,730 -88,730

BY 0 397,281 -397,281

BZ 29,417 0 29,417

CA 718 0 718

CB 2,413 0 2,413

CC 0 6,165 -6,165

CD 0 58,415 -58,415

CE 172,651 0 172,651

CF 0 19,416 -19,416

CG 0 2,538 -2,538

CH 827 0 827

CI 551,900 0 551,900

CJ 147,870 0 147,870

CK 735,939 0 735,939

CL 4,298,569 0 4,298,569 Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns e - h

(e) Gross sales price (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (or allowable) plus expense of sale (e) plus (f) minus (g)

CM 0 322,918 -322,918

CN 68,038 0 68,038

CO 33,640 0 33,640

CP 14,580 0 14,580

CQ 311,919 0 311,919

CR 0 251,464 -251,464

CS 0 582,896 -582,896

CT 5,892 0 5,892

CU 1,607,941 0 1,607,941

CV 8,333 0 8,333

CW 1,088,689 0 1,088,689

CX 11 0 11

CY 273,913 0 273,913

CZ 36,463 0 36,463

DA 119 0 119

DB 0 40 -40

DC 0 182,436 -182,436

DD 0 592,383 -592,383

DE 0 342,513 -342,513

DF 47,517 0 47,517

DG 0 138,697 -138,697

DH 502,310 0 502,310

DI 0 562,214 -562,214

D] 975,145 0 975,145

DK 0 289,176 -289,176

DL 10,991 0 10,991 Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns i - Complete only for assets showing gain in column ( h) and owned by the foundation on 12 /31/69 ( I) Gains ( Col (h) gain minus col (k), but not less than -0-) or (i) F M V as of 12 / 31/69 (j) Adjusted basis (k) Excess ofcol ( 1) Losses (from col (h)) as of 12 / 31/69 over col (j), if any

A -382,556

B 2,439,277

C 2,839,362

D 8,158,030

E 4,479,618

F -32

G 2,931,317

H 170,818

I -31

1 73

K 12,178,016

L -3,855,100

M 985,141

N 3,013,108

0 -25

P 28,596,580

Q 4,151,246

R 11,508,091

S 2,484,491

T 5,927,736

V -83,607

X 4,227

Y -11,269

Z 4,819,342

AA 156,619

AB -4,376

AC 127,346

AD -30,140 Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns i -

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col (h) gain minus col (k),, but not less than -0) or F M V as of 12/31/69 (j) Adjusted basis (k) Excess of col (i) Losses (from colol (h)) as of 12/31/69 over col (j), if any

A E -307,076

A F -10,111

AG 523,958

A H 626,671

AI -1,110,480

AJ -124,887

A K -86,512

A L 606,454

A M 121,513

A N 5,568

AO -166,372

A P -78,186

AQ -618,769

AR 87,300

AS -241,479

AT -998,003

AU 393,642

AV 335,042

A W 117,192

AX 6,485

AY 829,482

AZ 77

BA 2,347,614

BB 139,039

BC 360,708

BD 17,242

BE 1,606,527

BF -948,293

BG 211,573

BH -165,920 Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns i - 1

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (1) Gains (Col (h) gain minus col (k),, but not less than 0) or i F M V as of 12/31/69 (j) Adjusted basis ( k ) Excess of col () Losses (from colol (h)) as of 12/31/69 over col Q), if any

BI 46,813

BJ -224,104

BK -282,170

BL -296,106

BM -535,694

BN 1,654,411

BO 227,557

BP 150,258

BQ 391,087

BR -1,238,257

BS 49,226

BT 874,367

BU -259,816

BV 927,789

BW 244,328

BX -88,730

BY -397,281

BZ 29,417

CA 718

CB 2,413

CC -6,165

CD -58,415

CE 172,651

CF -19,416

CG -2,538

CH 827

CI 551,900

CJ 147,870

CK 735,939

CL 4,298,569 Form 990PF Part IV - Capital Gains and Losses for Tax on Investment Income - Columns i -

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col (h) gain minus col (k), but not less than -0-) or (i) F M V as of 12/31/69 (j) Adjusted basis (k) Excess of col (i) Losses (from col (h)) as of 12/31/69 over col (j), if any

CM -322,918

CN 68,038

CO 33,640

CP 14,580

CQ 311,919

CR -251,464

CS -582,896

CT 5,892

CU 1,607,941

CV 8,333

CW 1,088,689

CX 11

CY 273,913

CZ 36,463

DA 119

DB -40

DC -182,436

DD -592,383

DE -342,513

DF 47,517

DG -138,697

DH 502,310

DI -562,214

D] 975,145

DK -289,176

DL 10,991 Form 990PF Part VIII Line 1 - List all officers, directors, trustees, foundation managers and their compensation

(a) Name and address (b) Title, and average (c) Compensation (d) Contributions to (e) Expense account, hours per week ( If not paid, enter employee benefit plans other allowances devoted to position -0-) and deferred compensation Janice Kreamer Trustee 50,000 0 0 8 0 411 W 46th Terrace 802 Kansas City, MO 64112

Thomas M Hoenig Trustee 0 0 0 8 0 925 Grand Boulevard Kansas City,MO 64198

Thomas A McDonnell Trustee, Chairman of 50,000 0 0 the Board 333 W 11th Street Floor 5 8 0 Kansas City,MO 64105

Siobhan Nicolau Trustee 50,000 0 0 8 0 36 East 22nd Street 9th Floor NewYork,NY 10010

Ramon de Oliveira Trustee 50,000 0 0 8 0 580 Park Avenue 15B NewYork,NY 10021

Thomas) Rhone Trustee 50,000 0 0 8 0 99 The Woodlands Gladstone, MO 64119

Benno Schmidt Trustee 50,000 0 0 8 0 5291 Independence Avenue Riverdale, NY 10471

Frank Douglas Trustee 16,667 0 0 8 0 50 Mercer Road Basking Ridge, N] 07920

Michael Stolper Trustee 25,000 0 0 8 0 1606 Clemson Circle La Jolla, CA 92037

Nancy McCullough Treasurer 231,911 52,133 0 40 0 4801 Rockhill Road Kansas City,MO 64110

Carl Schramm Trustee and President 742,627 428,664 0 Rtiy & CEO 4801 Rockhill Road 40 0 Kansas City, MO 64110

John ETyler III General Counsel & 279,552 38,151 0 Secretary 4801 Rockhill Road 40 0 Kansas City,MO 64110 .... ;;, __ ......

o.o

11* c "I

.r...^..,rC.n^...... Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or Amount show any relationship to status of contribution Name and address (home or any foundation manager recipient business) or substantial contributor

a Paid during the year

University of Maryland None Educ Change the way 200,000 1000 Hilltop Circle Institution entrepreneurship is viewed, Administration Building taught, and experienced in Baltimore, MD 21250 American higher education Kauffman Campuses commit to make entrepreneurship education available across campus to students in every • held of study Creating new interdisciplinary entrepreneurship education programs will transform the way colleges and universities prepare students for success in the American economy 20070533

Duke University None Educ Support twenty-five Next 76,865 1121 West Main Street Institution Generation Venture Fund Durham, NC 27701 Scholars from the Greater Kansas City area 20070782

Carnegie Foundation for Advancement None Private Study to identify and promote 25,000 of Teac hang Foundation outstanding approaches to 51 Vista Lane integrating preparation for Stanford, CA 94305 entrepreneurship with liberal arts education and undergraduate business education 20070824

Olathe Unified School District 233 None Educ Support implementation of the 14,020 14160 Black Bob Road Institution Expeditionary Learning PO Box 2000 Outward Bound school reform O lathe, KS 660632000 model 20070864

The Learning Cooperative None 501(c)(3) Support implementation of the 17,500 7933 Main Expeditionary Learning Kansas City,MO 64114 Outward Bound school reform model 20070866

Center Srhnnl District None Educ Support implementation of the 20,000 10781 Oak Institution Expeditionary Learning Kansas City, MO 64114 Outward Bound school reform model 20070867

Banner Springs Edwardsville School None Educ Support implementation of the 80,000 District Institution Expeditionary Learning 2200 S 138th Street Outward Bound school reform PO Box 435 model 20070870 Bonner Springs, KS 66012

National Alliance for Public Charter None 501(c)(3) Advance the charter school 30,000 Schools movement in Missouri, Kansas, 1101 1 5th Street NW Suite 1010 and nationally in order to Washington, DC 20005 provide better school options for all students 20071225

International Finance Corporation None Government Support development of a 16,000 2121 Pennsylvania Ave NW benchmarking tool designed to Washington, DC 20433 study the impact of reforms geared toward reducing the costs ofdoing business and improving the benefits to formality 20080036

Teach For America Inc None 501(c)(3) Support the expansion ofTeach 500,000 315 West 36th Street For America into the Kansas 7th Floor City metropolitan area NewYork,NY 10018 beginning in the 2008 school year 20080163

Kauffman Innovation Network Inc None Private Advance the scientific and 200,000 4801 Rockhill Road Foundation technological knowledge and Kansas City, MO 64110 research developed by universities and other 501(c) (3) scientific research institutions by improving institutional capability to disseminate scientific discoveries and facilitating better understanding of compliance with the Bayh-Dole Act of 1980 20080275

Florida Atlantic University None Educ Support the development of a 25,121 2912 College Avenue Institution Web-based software Davie,FL 33314 curriculum, anchored in nanotechnology, to aid K-12 students in problem- based science learning 20080283

Benson David None Individual Fellowships for Ph D 3,000 1248 North 1110 East candidates writing Orem,UT 84097 dissertations in entrepreneurship 20080467

Ciuchta Michael None Individual Fellowships for PhD 3,000 1700 Meeting Place Apt 208 candidates writing Orlando, FL 32814 dissertations in entrepreneurship 20080469

Hayter Christopher None Individual Fellowships for Ph D 3,000 520 John Carlyle Street Unit 109 candidates writing Alexandria, VA 22314 dissertations in entrepreneurship 20080471

Total ...... k 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

Liu Christopher None Individual Fellowships for PhD 3,000 48 Easton Street Apt 2 candidates writing dissertations Allston, MA 02134 in entrepreneurship 20080473

Moser Shane None Individual Fellowships for PhD 3,000 128 Northpointe Drive candidates writing dissertations Oxford, MS 38655 in entrepreneurship 20080476

Mostafa Romel None Individual Fellowships for Ph D 3,000 Carnegie Mellon University candidates writing dissertations Porter Hall 208 in entrepreneurship 20080477 Pittsburgh, PA 15213

Thebaud Sarah None Individual Fellowships for Ph D 3,000 395 Teton Ct candidates writing dissertations Ithaca, NY 14850 in entrepreneurship 20080480

Wang Yanbo None Individual Fellowships for Ph D 3,000 Room 633 BU School of Management candidates writing dissertations 595 Commonwealth Avenue in entrepreneurship 20080481 Boston, MA 02215

Emory University None 501(c)(3) Support the Atlanta 6,755 1300 Clifton Road Room 555 Competitive Advantage Atlanta,GA 303222710 Conference in 2008-2010 20085049

Yale University None Educ Support the Kauffman Legal 60,000 127 Wall Street Room 354 Institution Fellows program 20085053 NewHaven,CT 06511

President and Fellows of Harvard None 501(c)(3) Support the Kauffman Legal 60,000 College Fellows program 20085054 John F Kennedy School of Governmen Malcolm Wiener Center for Social Po Cambridge, MA 02138

Board of Trustees of Leland Stanford None 501(c)(3) Support the Kauffman Legal 60,000 Junior Univ Fellows program 20085055 Crown Quadrangle 559 Nathan Abbott Way Stanford,CA 943058610

New York University None Educ Support the Kauffman Legal 60,000 40 Washington Square South 406D Institution Fellows program 20085056 New York, NY 10012

Columbia University None Educ Support the Kauffman Legal 60,000 Jerome L Greene Hall 8th Floor Institution Fellows program 20085057 435 West 116th Street Box B12 NewYork,NY 10027

University ofChicago None Educ Support the Kauffman Legal 60,000 1111 East 60th Street Institution Fellows program 20085058 Chicago,IL 60637

University of Colorado Foundation Inc None 501(c)(3) Support scholarships over the 4,745 Robert H Beverly A Deming Cente next three academic years for Entrepreneurship 419 UCB students pursuing the Boulder, CO 803090419 Certificate of Excellence in Entrepreneurial Studies 20085086

Northwestern University None Educ Support a research project on 76,640 Donald P Jacobs Center Institution the theoretical, macroeconomic 2001 Sheridan Road foundations of Evanston, IL 602082001 entrepreneurship 20085089

Association of Missouri Charter None 501(c)(3) Support to assist Kansas City 30,000 Schools charter schools in their efforts 3908 A Bell Street to provide high quality public Kansas City, MO 64111 education options to all students and families in Kansas City, Missouri 20085098

Total ...... 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or A mount show any relationship to status of contribution Name and address (home or any foundation manager recipient business) or substantial contributor

a Paid during the year

Youth Entrepreneurs of Kansas Inc None 501(c)(3) Support entrepreneurship 201,727 4111 E 37 St N Suite D101 education in four high schools Wichita,KS 67220 in Kansas City, Kansas 20085132

Saint Louis University None Educ Support the Gateways to 21,200 John Cook School of Business Institution Entrepreneurship Research Department of Management Conference, April 10-12, 2008 St Louis, MO 64108 which will explore research ideas in angel investing, as well funding for the 2009 and 2010 conferences 20085144

Duke University None Educ Support to explore the 7,554 1 Towerview Drive Institution character and extent of the Durham, NC 27708 division of innovative labor in the American economy across firms and other institutions that leads to the commercialization of innovative products and services, and how that division of labor affects the innovation performance of firms and industries 20085262

President and Fellows of Harvard None 501(c)(3) Support development of the 1,484,212 College Legal Lab Network at Harvard Harvard Law School Law School's Berkman Center Berkman Center for Internet Socie for Internet and Society Cambridge,MA 02138 20085388

University of Southern California None Educ Support development of an 2,331 Exec Dir USC Stevens Institute f Institution educational program focused on 3740 McClintock Ave Hughes EEB teaching students skills to 13 develop innovations that Los Angeles,CA 900892561 promote entrepreneurism in developing countries 20085449

Massachusetts Institute of None 501(c)(3) Support the collection and 17,746 Technology dissemination of best practices Room 8-403 in university research funded by 77 Massachusetts Ave industry 20085467 Cambridge,MA 021394307

President and Fellows of Harvard None Educ Support Harvard University's 150,000 College Institution Law School research project on Harvard Law School law, innovation, and economic Griswold 510 growth 20085480 Cambridge, MA 02138

Yale University None Educ Support Yale University's Law 150,000 127 Wall Street Room 354 Institution School research project on law, New Heven,CT 06511 innovation, and economic growth 20085483

The George Washington University None Educ Support The George 146,596 2000 H Street Institution Washington University's Law Washington, DC 20052 School research project on law, innovation, and economic growth 20085484

Massachusetts Institute of None 501(c)(3) Support the development of 32,950 Technology educational materials and Room 10-358 operational resources to 77 Massachusetts Ave replicate the MIT Venture Cambridge, MA 021394307 Mentoring Program 20085611

TiE Inc None 501(c)(6) Support creation and delivery of 125,000 2903 Bunker Hill Lane Suite 108 Trade educational materials for Santa Clara, CA 95054 training and tracking mentors and conducting research regarding the effectiveness of mentoring activity, particulary in on-line and multi-cultural environments 20085729

Kansas City Public Library District None 501(c)(3) Expand and create a permanent 200,000 14 West 10th Street home for the Black Archives of Kansas City,MO 64105 Mid-America 20085925

Blume-Kohout Margaret None Individual Fellowships for Ph D 3,000 29 Mulberry Lane candidates writing dissertations Waterloo, Ontario N2LSL4 in entrepreneurship 20086217 CA

Breunig Ian None Individual Fellowships for Ph D 3,000 720 City Park Avenue Part C320 candidates writing dissertations FortCollins, CO 80521 in entrepreneurship 20086218

Cox Emily None Individual Fellowships for Ph D 3,000 305 Olive Avenue candidates writing dissertations Palo Alto, CA 94306 in entrepreneurship 20086220

Total ...... 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

Ganco Martin None Individual Fellowships for Ph D 3,000 1766 Magnolia Lane N candidates writing dissertations Plymouth, MN 55441 in entrepreneurship 20086221

Hegde Deepak None Individual Fellowships for Ph D 3,000 1150 Beethoven Common Apt 300 candidates writing dissertations Fremont, CA 94538 in entrepreneurship 20086222

Hiatt Shon None Individual Fellowships for Ph D 3,000 98 Shaw Road candidates writing dissertations Belmont,MA 02478 in entrepreneurship 20086223

Santikian Lori None Individual Fellowships for PhD 3,000 280 E Del Mar Blvd 304 candidates writing dissertations Pasadena, CT 91101 in entrepreneurship 20086227

Smith Edward None Individual Fellowships for Ph D 3,000 5517 S Hyde Park Blvd 3 candidates writing dissertations Chicago,IL 60637 in entrepreneurship 20086228

Tsoutsoura Margarita None Individual Fellowships for Ph D 3,000 512 North McClurg Ct Apt 4704 candidates writing dissertations Chicago,IL 60611 in entrepreneurship 20086229

Kansas University Endowment None 501(c)(3) Support to establish the 1,620,000 Association Institute for Advancing Medical PO Box 928 Innovation at the University of 1891 Constant Ave Kansas 20086282 Lawrence, KS 660440928

The Brookings Institution None 501(c)(3) Support research and policy on 30,000 1775 Massachusetts Ave NW innovation, entrepreneurship, Washington, DC 20036 and private sector development 20090005

The Brookings Institution None 501(c)(3) Support a research project 43,780 1775 Massachusetts Ave NW studying areas in which Washington, DC 20036 technology threatens the obsolescence of constitutional values, restrictions, and rights of individuals 20090006

RAND Corporation None 501(c)(3) Support to continue the 300,000 PO Box 2138 Kauffman-RAND Institute for 1776 Main Street Entrepreneurship Public Santa Monica, CA 904072138 Policy's research activities 20090039

University ofCalifornia - Berkeley None Educ Fellowships to support 21,000 545 Student Services 1900 Institution Research in Entrepreneurship Berkeley, CA 94720 by junior faculty members 20090042

University of Wisconsin - Madison None Educ Fellowships to support 31,123 161 Bascom Hall Institution Research in Entrepreneurship 500 Lincoln Drive by junior faculty members Madison, WI 53706 20090044

University of Oregon None Educ Fellowships to support 25,000 436 Lillis Hall Institution Research in Entrepreneurship 1208 University of O regon by junior faculty members Eugene, O R 974031208 20090045

The Regents of the University of None 501(c)(3) Support the development of 8,000 California Davis educational materials to be Center for Entrepreneurship used for replication of Room 153 AOB IV technology entrepreneurship Davis, CA 956168609 academies focused on university-based cleantech innovators 20090046

Heart of America United Way None 501(c)(3) Kauffman Foundation match of 11,020 1080 Washington Street associate contributions Kansas City,MO 64105 20090048

Total ...... 3a 41,426,880 Fnrm 99npF Part XV Line 3 - Grants and Contributions Paid Durina the Year or Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or Amount show any relationship to status o f con tr i b u t i on Name and address (home or any foundation manager recipient business) or substantial contributor

a Paid during the year

Yale University None Educ Support a conference focused 10,000 28 Hillhouse Ave Institution on the economics of New Haven, CT 06511 technologies that combat global warming and the ways in which entrepreneurial solutions might best be fostered 20090053

National Postdoctoral Association None 501(c)(3) Support the creation of the 24,000 1200 New York Avenue NW Suite Ewing Marion Kauffman 635 Foundation Postdoctoral Washington, DC 20005 Entrepreneur Award to be presented at the annual meeting ofThe National Postdoctoral Association 20090197

University of Washington None Educ Support the Doctoral 15,000 318 Mackenzie Hall Institution Consortium on Technology Box 353200 Entrepreneurship for the years Seattle, WA 98115 2009 through 2011 20090205

Kansas University Endowment None 501(c)(3) Support to establish the 300,000 Association Kansas City Area Educational PO Box 928 Research Consortium 1891 Constant Ave 20090240 Lawrence, KS 660440928

Institute for Jewish & Community None 501(c)(3) Support a survey and research 25,000 Research study on college students' 3198 Fulton Street attitudes and knowledge of San Francisco, CA 94118 business and free enterprise 20090403

The Brookings Institution None 501(c)(3) Support to improve federal 15,000 1775 Massachusetts Avenue NW economic statistics through Washington, DC 20036 networking users, education, and program-specific efforts 20090429

Northwestern University None Educ Support research on the 14,000 Department of Economics Institution biographies of technicians, 2003 Sheridan Rd engineers, chemists, Evanston, IL 60208 physicians, and millwrights who were influential in shaping the British Industrial Revolution 20090516

Public Forum Institute None 501(c)(3) Support the Policy Dialogue on 35,000 2300 M Street NW Suite 900 Entrepreneurship newsletter Washington,DC 20037 20090525

Council on Foreign Relations Inc None 501(c)(3) Support research and writing of 125,000 58 East 68th Street two books on entrepreneurship New York, NY 10065 and economics one a biography of Calvin Coolidge and his influence on private enterprise and one focusing on experiences of entrepreneurs in the 1960's, as well as the creation of an illustrated edition of The Forgotten Man by Amity Shlaes 20090527

The Regents of the University of None Educ Fellowships to support 16,079 California Institution Research in Entrepreneurship 8283 Bunche Hall by junior faculty members Mail Stop 147703 20090598 Los Angeles,CA 90095

President and Fellows of Harvard None 501(c)(3) Fellowships to support 25,000 College Research in Entrepreneurship 1737 Cambridge Street by junior faculty members Cambridge, MA 02163 20090600

Texas A&M University None Educ Fellowships to support 25,000 4113 Tamu Institution Research in Entrepreneurship College Station, TX 778434113 by junior faculty members 20090601

The Third Way Foundation Inc None 501(c)(3) Support the reorganization 50,000 1730 Rhode Island Avenue NW Suite efforts of the Progressive Washington, DC 20036 Policy Institute, a research and education institute at The Third Way Foundation, Inc 20090662

University of Pennsylvania None Educ Support the annual seminar on 10,000 3620 Locust Walk Institution the Evolution of Organizations Suite 2000 Steinberg Hall-Dietrich and Industries to be held in Philadelphia, PA 191046370 2010, 2011, and 2012 20090759

University ofChicago None Educ Support the Coase Centennial 35,000 1111 East 60th Street Institution Conference at the University of Chicago,IL 60637 Chicago Law School, December 4-5,2009 20090838

Total ...... 111* 3a 41,426,880 Form 99OPF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

s Paid during the year

MonsChellenge Inc None 501(c)(3) Support for educational 15,000 PO Box 426155 activities associated with the Cambridge, MA 02142 entrepreneurial ecosystem in Massachusetts 20090851

Manhattan Institute for Policy None 501(c)(3) Support the Manhattan 100,000 Research Inc Institute's City journal 52 Vanderbilt Avenue magaainc 20090879 Nowvork,NY 10017

Rex Christopher None Individual Support the Kauffman 49,090 University ofCahfornla - Irvine Entrepreneur Postdoctoral 837 Health Sciences Road Fellowship award for Irvlne,CA 926974291 entrepreneurship education in conjunction with the conduct of translational scientific research for the benefit of society 20090895

Stanford University None Educ Support the Kauffman 51,072 450 Serra Mall Institution Entrepreneur Postdoctoral Stanford, CA 94305 Fellowship award for entrepreneurship education in conjunction with the conduct of translational scientific research for the benefit ofsoclety 20090896

Partnership for Children None 501(c)(3) Support the development of a 40,000 4049 Pennsylvania Ave Suite 120 Children and Youth Action Kansas CIty,M0 64111 Agenda to address educational, soclol and emotional challenges facing Kansas City young people 20090913

Kelembknr Yeah None Individual Support the Kauffman 35,192 3201 Post Woods Drive Apt A Entrepreneur Postdoctoral A dente, GA 30339 Fellowship award for entropreneurship education in conjunction with the conduct of translational scientific research for the benefit of society 20090925

Yeedanpeneh Mehdl None Individual Support the Kauffman 41,365 3143 Doreen Way Entrepreneur Postdoctoral Louisville, KY 40220 Fellowship award for entrepreneurship education in conjunction with the conduct of translational scientific research for the benefit of society 20090926

Research Fndn for the City University None 501(c)(3) Support the Kauffman 58,500 of Now York Entrepreneur Postdoctoral Research Foundation CUNY Fellowship award for Box 1-1010 entrepreneurship education in New York, NY 100105585 conluncupn with the conduct of translational sc lontlhc research for the benefit of society 20090927

Massachusetts Institute of None 501(c)(3) Support the Kauffman 33,386 Technology Entrepreneur Postdoctoral Grants and Fellowship Admlmstretie Fellowship award for 77 Massachusetts Avenue Bldg 619- entrepreneurship education in Cambridge, MA 02139 conjunction with the conduct of translational scientific research for the benefit of society 20090928

Duke University None Educ Support the Kauffman 37,335 PO Institution Entrepreneur Postdoctoral Durham,BOX NC9058127708 Followshlp award for entrepreneurship education in conjunction with the conduct of translational scientific research for the benefit of society 20090931

V oronenko Yevgen None Individual Support the Kauffman 68,480 576 Franklin Boulevard Entrepreneur Postdoctoral Freedom, PA 15042 Fellowship award for entrepreneurship education in conjunction with the conduct of translational scientific research for the benefit of society 20090936

Meroullo Timothy None Individual Support the Kauffman 45,500 3081 Lsoington Drive Entrepreneur Postdoctoral Ann Arbor, MI 48105 Fellowship award for entrepreneurship education in ccnlunctlon with the conduct of trans latlonal scientific research for the benefit of society 20090937

University of Florida None Educ Support the Kauffman 46,512 231 MAE-A Institution Entrepreneur Postdoctoral Gamesvlllo, FL 32611 Fallowshlp award for entrepreneurship education in conjunction with the conduct of translational scientific research for the benefit of society 20090940

University of Wisconsin - Madison None Educ Support the Kauffman 43,916 800 Langdon Street Institution Entre preneur Postdoctoral Madison, WI 537061419 Fellowship award for entrepreneurship education in conjunction with the conduct of translational scientific research for the benefit of society 20090942

LoCascio Riccardo None Individual Support the Kauffman 49,834 PO800 964 Entrepreneur Postdoctoral Dave:, CA 95617 Fellowship award for antra pranourship education in conjunction with the conduct of translational scientific research for the benefit of society 20091020

Total. . . . 1 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment Recipient If recipient is an individual, Foundation Purpose of grant or A mount show any relationship to status of contribution Name and address (home or any foundation manager recipient business) or substantial contributor

a Paid during the year

Brigham and Women's Hospital Inc None 501(c)(3) Support the Kauffman 41,388 75 Francis Street Entrepreneur Postdoctoral Boston, MA 021156110 Fellowship award for entrepreneurship education in conjunction with the conduct of translational scientific research for the benefit of society 20091060

Huang Peng None Individual Fellowships for Ph D 20,000 9630 Milestone Way 3098 candidates writing dissertations College Park, MD 20740 in entrepreneurship 20091092

Li Xiaoyang None Individual Fellowships for PhD 17,000 2007 Huron Parkway Apt 5 candidates writing dissertations AnnArbor,MI 48104 in entrepreneurship 20091093

Choi Emily None Individual Fellowships for Ph D 17,000 Haas School of Business candidates writing dissertations 545 Student Services 1900 in entrepreneurship 20091095 Berkeley, CA 94720

Carlos William Chad None Individual Fellowships for Ph D 17,000 49 Dart Drive candidates writing dissertations Ithaca, NY 14850 in entrepreneurship 20091096

Frias Kellilynn M None Individual Fellowships for PhD 17,000 30443 Blume Circle candidates writing dissertations Menifee,CA 92584 in entrepreneurship 20091097

Luo Hong None Individual Fellowships for Ph D 17,000 181 Thompson Street Apt 26 candidates writing dissertations New York, NY 10012 in entrepreneurship 20091098

Kryscynski David G None Individual Fellowships for Ph D 17,000 1983 Westminster Way candidates writing dissertations Atlanta,GA 30307 in entrepreneurship 20091099

Hausman Naomi 0 None Individual Fellowships for PhD 17,000 35 Banks Street Apt 2 candidates writing dissertations Cambridge, MA 02138 in entrepreneurship 20091100

McDonald Rory None Individual Fellowships for PhD 17,000 92 Thoburn Court 106 candidates writing dissertations Stanford, CA 94305 in entrepreneurship 20091101

Amand Marnix None Individual Fellowships for PhD 17,000 26 Cottage Street candidates writing dissertations New Haven, CT 06511 in entrepreneurship 20091102

Suarez Juan Carlos None Individual Fellowships for PhD 17,000 5081 Evans Hall 3880 candidates writing dissertations Berkeley, CA 94720 in entrepreneurship 20091103

Wagner Rodrigo A None Individual Fellowships for PhD 17,000 24 Peabody Terrace Apt 514 candidates writing dissertations Cambridge, MA 02138 in entrepreneurship 20091105

Sarada None Individual Fellowships for Ph D 17,000 4056 5 Front Street candidates writing dissertations San Diego,CA 92103 in entrepreneurship 20091106

Joshi Amol M None Individual Fellowships for PhD 17,000 1852 Wysong Court candidates writing dissertations Raleigh, NC 27612 in entrepreneurship 20091107

Total ...... 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or Amount show any relationship to status of contri b ution Name and address (home or any foundation manager recipient business) or substantial contributor

a Paid during the year

Yavuz Rukiye I None Individual Fellowships for Ph D 17,000 3-365 Carlson School of candidates writing dissertations Management in entrepreneurship 20091108 Minneapolis, MN 55455

Youth Business America Inc None 501(c)(3) Support a planning grant for the 25,000 PO Box 71807 pilot project of the Youth Oakland, CA 94612 Business America program in the San Francisco Bay area 20091191

ACT Inc None 501(c)(3) Support for tuition, fees, room 1,250,000 500 ACT Drive and board for Kauffman PO Box 168 Scholars, Inc students Iowa City,IA 52243 Attachment E 20091224

Urban Entrepreneur Partnership Inc None 501(c)(3) Support for minority 700,000 4801 Rockhill Road entrepreneurship efforts Kansas City,MO 64110 20100008

First Nations Development Institute None 501(c)(3) Support to explore the creation 25,000 351 Coffman Street Suite 200 of a private equity vehicle to Longmont,CO 80501 address the shortage of working capital for emerging and growing small businesses in A merican-Indian communities throughout the United States 20100029

National Center for Policy Analysis None 501(c)(3) Support a major research 100,000 12770 Colt Rd Suite 800 project on regulatory reform to Dallas,TX 75251 help entrepreneurs meet the essential needs oflow-income families 20100035

Academy ofManagement Inc None 501(c)(3) Support the Entrepreneurship 5,000 PO Box 3020 Division Program at the BraircliffManor,NY 105108020 Academy ofManagement Annual Meeting in Montreal, Canada, August 6-10, 2010 20100043

Yale University None Educ Support the creation of the 367,500 127 Wall Street Room 354 Institution Kauffman Program in Law, New Haven, CT 06511 Economics, and Entrepreneurship at Yale Law School, and for continued support of the Information Society Project at Yale Law School 20100046

Greater Kansas City Community None 501(c)(3) Support to create and develop a 1,600,000 Foundation world-class enterprise at the 1055 Broadway University ofMissouri, Kansas Suite 130 City, devoted to the research Kansas City,MO 641051595 and teaching of entrepreneurship at the Institute for Entrepreneurship and Innovation 20100060

Heart ofAmerica United Way None 501(c)(3) Kauffman Foundation match of 19,310 1080 Washington Street associate contributions Kansas City,MO 64105 20100063

US Foundation ForThe Inspiration & None 501(c)(3) Support development and 130,000 Recognition of distribution of the Samantha Science Technology module, a WiFi based 200 Bedford Street communications system, for the Manchester, NH 03101 U S FIRST Tech Challenge 20100065

Sabet Arash None Individual Support to participate in the 5,400 1342 Autumn Wood Circle Global Scholars program to Ballwin, MO 63011 examine, understand, and learn about the entrepreneurial culture in the United States 20100066

The Claremont Inst for the Study of None 501(c)(3) Support the work of the 50,000 Statesmanship Claremont Institute in providing Political Philosophy scholarship, publications, and 937 West Foothill Boulevard Suite public policy programs Claremont,CA 91711 20100067

New York and Presbyterian Hospital None 501(c)(3) General and operating support 5,000 601 West 168th Street 7-8 20100068 NewYork,NY 10032

Fairfield County Community None 501(c)(3) General and operating support 5,000 Foundation Inc 20100069 383 Main Avenue Norwalk,CT 06851

Total ...... ' 3a 41,426,880 Form 99OPF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

Mid-America Regional Council None 501(c)(3) Support the production ofa 5,000 Community multi-purpose video for Services Corporation promoting the 2011 Futurallia 600 Broadway Suite 200 Entrepreneurial Olympics Kansas City,MO 64105 conference in Kansas City, Missouri 20100105

Franklin W Olin College of None 501(c)(3) Support the Grand Challenges 50,000 Engineering Inc Student Initiative Awards to be 1735 Great Plain Ave presented at the "Boston Needham,MA 024921245 Summit on the Educational Imperatives of the Grand Challenges" in Wellesley, Massachusetts, April 21, 2010 20100106

Pacific Research Institute for Public None 501(c)(3) Support research titled 75,000 Policy "Comparative Effectiveness One Embarcadero Center Review Implications for Suite 350 Private Sector Investment in San Francisco, CA 94111 Research and Development 20100107

Washington University None Educ Support research on the 2,500 660 S Euclid Ave Institution "Neurological Bases of Box 8108 Economic Choice Behavior" St Louis, MO 63110 20100109

University of Southern California None 501(c)(3) Support research and authoring 40,000 699 Exposition Blvd 300 of a book detailing a new Los Angeles,CA 90017 framework for legal policy to support economic activity 20100111

University of Wisconsin - Madison None Educ Support research on the human 10,000 5283 Grainger Hall Institution capital compositions ofstart- 975 University Avenue up teams 20100112 Madison, WI 53706

The Nelson Gallery Foundation None 501(c)(3) Support 2010 Nelson - Atkins 47,895 4525 Oak Street Museum ofArt, Business Kansas City, MO 64111 Council Membership Dues 20100113

Starlight Theatre Association None 501(c)(3) Support the 24th Annual 4,720 4600 Starlight Road Starlight Benefit Gala in Kansas Kansas City,MO 64132 City, Missouri, May 22, 2010 20100114

Rose Brooks Center Inc None 501(c)(3) Support the Annual Rose 4,000 PO Box 320599 Brooks Center Cabaret, in Kansas City,MO 641320599 Kansas City, Missouri, February 28, 2010 20100115

Design Industries Foundation None 501(c)(3) Support the 20th Anniversary 1,875 Fighting AIDS Inc Dining by Design event in PO Box 10406 Kansas City, Missouri, May 1, Kansas City,MO 64171 2010 20100116

President and Fellows of Harvard None 501(c)(3) Support for hosting the 14,000 College Kauffman Global Scholars Harvard Division of Engineering A program as participants Pierce Hall experience the entrepreneurial Cambridge, MA 02138 culture in the United States by meeting with Harvard University scientists, professors, and students 20100119

KTEC Pipeline Inc None 501(c)(3) Support the Innovator of the 1,600 8527 Bluejacket Street Year event in Overland Park, Lenexa, KS 66214 Kansas, January 21, 2010 20100120

Women's Employment Network Inc None 501(c)(3) Support the 19th annual Heart- 4,734 920 Main Street Suite 100 to-Heart Luncheon in Kansas Kansas City,MO 641052000 City, Missouri, April 28, 2010 20100121

Kansas City Ballet Association None 501(c)(3) Supportthe 43rd Annual Ballet 24,000 1616 Broadway Street Ball in Kansas City, Missouri, Kansas City,MO 64108 March 6, 2010 20100122

Washington University None Educ Support research on the 2,500 660 S Euclid Ave Institution "Mechanisms of Cognitive Box 8108 Control " 20100123 StLouis,MO 63110

Total ...... 3a 41,426,880 Form 99OPF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

Massachusetts Institute of None 501(c)(3) Support the 2010 Senior 81,439 Technology Congressional and Executive 77 Massachusetts Avenue Room 3- Branch Staff Seminar in 234 Cambridge, Massachusetts, Cambridge, MA 021394307 April 7-9, 2010 20100125

Rosalind Franklin Society Inc None 501(c)(3) Support Rosalind Franklin 20,000 140 Huguenot Street Third Floor Society's efforts to New Rochelle,NY 108015215 communicate, recognize, foster, and make known the important contributions made by women in life sciences 20100126

The Salvation Army None 501(c)(3) Support the 2009 Annual 25,000 3637 Broadway Christmas Campaign Fund Kansas City,MO 641112577 20100135

National Association for Business None 501(c)(6) Support the educational 4,315 Economics Trade session titled "Strengthening 1233 20th Street NW Suite 505 the Nation's Entrepreneurs Washington, DC 20036 Small Business Challenges and Opportunities after the Great Recession" at the 2010 National Association for Business Economics Policy Conference, in Arlington, Virginia, March 7-9, 2010 20100144

Greater Kansas City Sports None 501(c)(3) Support the Women's Intersport 4,750 Foundation Network for Kansas City's 1308 Pennsylvania Annual Women's Sports Award Kansas City,MO 64105 Celebration in Kansas City, Missouri, February 5, 2010 20100145

Harry S Truman Library Institute for None 501(c)(3) Support the 11th annual Wild 2,300 National and About Harry event in Kansas International Affairs City, Missouri, April 8, 2010 500 W US Highway 24 20100146 Independence, MO 64050

Center for Medicine in the Public None 501(c)(3) Support the second annual 9,200 Interest Odyssey Award Gala in 308 East 38th Street Suite 201 Morristown, New Jersey, New York,NY 10016 February 25, 2010 20100147

Duke University None 501(c)(3) Support the writing of a book 37,500 3120 Fitzpatrick Center that will summarize research on Box 90300 U S global competitiveness Durham, NC 277080300 and its relation to policies regarding entrepreneurship, innovation, and immigration 20100149

United States Military Academy None 501(c)(3) Support research and 100,000 607 Cullum Road conferences in the emerging Lincoln Hall field of post-conflict economic West Point, NY 10996 development and establish entrepreneurship- based development programs 20100154

Command and General Staff College None 501(c)(3) Support to provide education to 100,000 Foundation members of the military who Lewis and Clark Center attend the Command and 100 Stimson Ave Suite 1149 General Staff College Ft Leavenworth, KS 660272301 20100155

The Aspen Institute Inc None 501(c)(3) Support the annual Aspen 10,000 One Dupont Circle NW Institute Seminar for Mid- Suite 700 America Foundation CEOs for Washington, DC 200361133 each of the years 2010 through 2012 20100156

Curators of the University of Missouri None 501(c)(3) Support the Committee of 4,800 School of Journalism Concerned Journalists' event 31OG RJI titled The Great Recession Columbia,MO 65211 How Did the Media Fare in Covering the Story of the Year7" in Newyork City, New York, March 1, 2010 20100157

University of Hartford None Educ Support the writing of a book on 18,000 200 Bloomfield Ave Institution financing strategies for women- West Hartford,CT 061171599 owned firms 20100158

Regents of the University ofCalifornia None 501(c)(3) Support work on the legal brief, 20,000 215 Boalt Hall Bilski v Kappos, regarding Berkeley, CA 947207200 intellectual property laws in the United States 20100159

Philanthropy Roundtable None 501(c)(3) General operating support 45,000 1150 17th Street NW 20100164 Suite 503 Washington, DC 20036

Total ...... ' 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

The National Foundation for American None S01(c)(3) Support research that explores 35,000 Policy innovative approaches to 2111 Wilson Blvd Suite 700 immigrant entrepreneur/job- Arlington,VA 22201 creation visas, to expand research on restrictions facing high skill immigrants, and to study the impact that international student attendance has on United States graduate programs 20100166

Regents of the University of None 501(c)(3) Support research on the 23,075 Minnesota efficiency and safety of the Walter F Mondale Hall - Room N219 Federal Drug Administration's 229 - 19th Ave South medical device approval Minneapolis,MN 55455 process 20100167

Myelin Repair Foundation Inc None 501(c)(3) Support a project designed to 100,000 18809 Cox Ave Suite 190 develop and demonstrate a Saratoga, CA 95070 replicable virtual biotech model for validating basic drug discoveries made in academic laboratories in preparation for commercial licensing and development 20100176

Pennsylvania State University None Educ Support the 2010 Global 25,000 Smeal College of Business Institution Consortium of Entrepreneurship 451 C Business Building Centers Conference at University Park, PA 168023603 Pennsylvania State University, October2010 20100178

The Nelson Gallery Foundation None 501(c)(3) Support the "Celebrating a Life 3,600 4525 Oak Street Dedicated to the Arts" event Kansas City,MO 64111 honoring Marc F Wilson's 28 years of service to the Nelson- Atkins Museum ofArt in Kansas City, Missouri, April 30, 2010 20100179

Philanthropy Roundtable None 501(c)(3) Support the efforts of the 25,000 1150 17th Street NW Alliance for Charitable Reform Suite 503 specifically related to Washington, DC 20036 monitoring, understanding, and providing education on legislative initiatives and prospects that relate to private foundations and the public charities they support 20100181

Center for Practical Bioethics Inc None 501(c)(3) Support the 26th anniversary 3,000 Herzfeld Building dinner, Decisions that Matter, 1111 Main Street Suite 500 in Kansas City, Missouri, April Kansas City,MO 641052116 13,2010 20100184

Boys Club ofGreaterKansas City None 501(c)(3) Support the Boys & Girls Clubs 4,500 6301 Rockhill Road of Greater Kansas City's Suite 303 Annual Kids Night Out event, in Kansas City, MO 64131 Kansas City, Missouri, February 24,2010 20100185

The Central Exchange Education None 501(c)(3) Support the annual Women's 3,505 Center Lyceum conference in Overland 1020 Central Park, Kansas, April 20, 2010 Kansas City,MO 64105 20100186

INDEPENDENT SECTOR None 501(c))3) General operating support 15,000 1602 L Street NW Suite 900 20100187 Washington, DC 20036

Curators of The University of Missouri None 501(c)(3) Support the Missouri Life 1,750 Office of Sponsored Program Adminis Sciences Summit, Animal to 310 Jesse Hall Human Health Collaborations- Columbia, MO 652111230 Partnership for Innovation, in Kansas City, Missouri, March 7-9,2010 20100245

Information Technology and None 501(c)(3) Support the 2010 State New 45,000 Innovation Foundation Economy Index and 1101 K Street NW Suite 610 Entrepreneurship Sub-Index Washington, DC 20005 20100247

University ofOregon None Educ Support a Doctoral Student 15,000 436 Lillis Hall Institution Workshop at the West Coast 1208 University ofOregon Research Symposium on Eugene,OR 974031208 Technology Entrepreneurship in Eugene, Oregon, August 26, 2010 20100248

Duke University None 501(c)(3) Support a conference on 20,000 One Towerview Drive Box 90120 entrepreneurial finance and Durham, NC 27708 research using Kauffman Firm Survey data in Durham, North Carolina, October 2010 20100249

Friends Seminary None 501(c)(3) General operating support 5,000 222 East 16th Street 20100254 NewYork,NY 10003

Total ...... 10, 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid Durinq the Year or Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or A mount show any relationship to s t a t us o f c ontribution Name and address (home or any foundation manager recipient business) or substantial contributor

a Paid during the year

William Marsh Rice University None 501(c)(3) Support the 2010 Rice 35,000 ]ones School Room 134 Business Plan Competition in 6100 Main Street Houston, Texas, April 15-17, Houston,TX 770052932 2010 20100257

Kansas City Repertory Theatre Inc None 501(c)(3) Support the Gala Patron Party, 4,380 4949 Cherry Fearless Fete in Three Kansas City, MO 64110 Celebrating Acts, in Kansas City, Missouri, May 14, 2010 20100260

Cristo Rey Kansas City None 501(c)(3) Support the Dancing with the 1,120 211 W Linwood Stars Kansas City event in Kansas City, MO 64111 Kansas City, Missouri, March 27,2010 20100261

Command and General StaffCollege None 501(c)(3) Support the 2010 8,650 Foundation Distinguished Leadership Lewis and Clark Center Award Dinner honoring H Ross 100 Stimson Ave Suite 1149 Perot, Jr in Kansas City, Ft Leavenworth, KS 660272301 Missouri, April 20, 2010 20100263

Expeditionary Learning Outward None 501(c)(3) Support a pre-conference 3,673 Bound Inc workshop, the 18th and Vine 247 West 35th Street 8th Floor Slice of a Learning Expedition, NewYork,NY 10001 at the Expeditionary Learning Schools' National Conference in Kansas City, Missouri, February 24,2010 20100264

LULAC National Educational Service None 501(c)(3) Support the LNESC-KC Second 3,420 Centers Inc Annual Spring Fundraiser 148 N Topping Avenue Dinner event, Building Success Kansas City,MO 64123 Brick by Brick, in Kansas City, Missouri, March 13, 2010 20100265

Gruter Institute for Law and None Private Support a workshop to teach 44,999 Behavioral Research Foundation professors and instructors a 158 Goya Road new paradigm for leadership and Portola Valley, CA 94028 leadership instruction to develop crucial skills and abilities of entrepreneurs and innovators 20100266

Astia None 501(c)(3) Support the inaugural summit, 50,000 833 Market Street Suite 605 "We Own It Exploring the San Francisco, CA 94103 Motivations, Metrics, Money and Myths Around Women Entrepreneurs," in New York, New York, June 7-9, 2010 20100267

Georgia Tech Research Corporation None 501(c)(3) Support for annual research 10,000 Office of Sponsored Programs conferences in each of the 505 Tenth Street years 2010 through 2012 on Atlanta,GA 303320420 technology entrepreneurship that specifically encourages and fosters young scholars 20100268

The Committee for the Mayors Prayer None 501(c)(3) Support the 49th annual 245 Breakfast Regional Mayors' Prayer PO Box 481903 Breakfast in Kansas City, Kansas City,MO 64148 Missouri, February 23, 2010 20100269

Kansas City Missouri School District None Educ Support to reform public 50,000 1211 McGee Street Institution education in Kansas City, Suite 1000 Missouri 20100272 Kansas City,MO 64106

Centerfor a New American Security None 501(c)(3) Support the Center for a New 50,000 Inc American Security's effort to 1301 Pennsylvania Avenue NW Suite make a meaningful contribution Washington, DC 20004 to our nation's debate over economic growth 20100273

Arizona State University None Educ Support the 9th Annual 10,000 Armstrong Hall Institution Transactional Law Clinical McAllister Orange Streets Faculty Conference in Tempe,AZ 85287 Scottsdale, Arizona April 29- 30,2010 20100274

University of Chicago None Educ Support a conference on the 21,450 1111 East 60th Street Institution Licensing of Intellectual Chicago, IL 60637 Property at the University of Chicago Law School, June 18- 19,2010 20100348

University of Chicago None Educ Support two Kauffman Student 10,000 1111 East 60th Street Institution Fellowships for work in Chicago,IL 60637 entrepreneurship at the University of Chicago Law School 20100349

Total ...... 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

The University of Missouri-Kansas None Educ Support the creation of a 25,000 City Bloch Institution documentary film telling the life School of Business Public Adminis story of Henry W Bloch, co- 5110 Cherry St Room 225 founder of H&R Block Kansas City, MO 641102499 20100352

University of Notre Dame du Lac None 501(c)(3) Support research on the history 20,000 836a Grace Hall of high-skilled Russian Notre Dame, IN 46556 immigration to the United States, analyzing the net effect on employment and innovative activity 20100364

Board of Trustees of Leland Stanford None 501(c)(3) Support the development of 43,500 Junior Univ online video content providing 318 Campus Drive modular instruction to Clark Center Rm E-100D entrepreneurs on regulatory Stanford, CA 943055428 affairs in the medtech field 20100378

Internet Society Chapter of the None 501(c)(3) Support a summer internship 37,500 Greater NYC Metro program matching students PO Box 1599 Madison Square possessing computational and Station quantitative skills with New York, NY 101591599 entrepreneurial startups 20100414

Kansas City Friends ofAlvin Ailey None 501(c)(3) Support the AileyCamp 2010 25,000 Inc summer youth program 1714 East 18th Street 20100416 Kansas City,MO 64108

College Entrance Examination Board None 501(c)(3) Support the creation of The 25,000 45 Columbus Avenue Gene A Budig Fund for First NewYork,NY 100236992 Generation College Students 20100418

Teach For America Inc None 501(c)(3) Support leadership 55,116 315 West 36th Street development training at the 7th Floor Center for Creative Leadership NewYork,NY 10018 for Teach ForAmerica executive directors and supervisors 20100420

George Mason University None Educ Support a book and conference 20,000 3301 Fairfax Drive MS 1G3 Institution entitled The American Arlington,VA 22201 Illness", which will explore the impact of A merica's rule of law on entrepreneurship and economic growth 20100421

Stanford University None Educ General operating support 5,000 318 Campus Drive Room E-100 Institution 20100422 Stanford,CA 943055428

Genesis School Inc None 501(c)(3) Support the Slammin' + 4,650 3800 East 44th Street Jammin' benefit for the Genesis Kansas City, MO 64130 School in Kansas City, Missouri, May 15, 2010 20100423

Friends of the Zoo Inc of Kansas City None 501(c)(3) Support the establishment of 25,000 Missouri the Kansas City Zoo Youth 6800 Zoo Drive Advisory Board 20100424 Kansas City,MO 64132

Greater Kansas City Community None 501(c)(3) Support the Greater Kansas 2,500 Foundation City Hispanic Scholarship Fund 1055 Broadway Awards event in Kansas City, Suite 130 Missouri, June 17, 2010 Kansas City, MO 641051595 20100426

Academie Lafayette None 501(c)(3) Support the Sixth Annual An 5,000 6903 Oak Street Evening in Paris event in Kansas City, MO 64113 Kansas City, Missouri, April 24, 2010 20100428

University of Wisconsin - Madison None Educ Support for a conference on 10,000 Law School Institution "Intellectual Property and 975 Bascom Mall Room 8111 Intergenerational Equity" to be Madison, WI 53706 held at the University of Wisconsin Law School, November2010 20100447

Public Forum Institute None 501(c)(3) Support the Policy Dialogue on 53,000 2300 M Street NW Suite 900 Entrepreneurship newsletter Washington, DC 20037 20100448

Total ...... 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

Creative Commons Corporation None 501(c)(3) Support the Sage Commons 10,000 171 Second Street Suite 300 Congress event in San San Francisco,CA 94105 Francisco, California, April 23- 24,2010 20100454

The Milken Institute None 501(c)(3) Support a Financial Innovation 150,000 1250 Fourth Street Lab at The Milken Institute that Santa Monica, CA 90401 will study problems facing the municipal finance sector and generate real-world solutions to these issues 20100458

Education Writers Association None 501(c)(3) Support the Newsmaker 5,000 2122 P Street NW Suite 201 Luncheon at the Education Washington, DC 20037 Writers Association's 2010 National Summit on "The Future of Education Journalism" in San Francisco, California, May 14, 2010 20100459

The Regents of the University of None 501(c)(3) Support the Intellectual 20,000 California Property Colloquium, an online Los Angeles audio program devoted to Box 951476 intellectual property topics Los Angeles,CA 900951476 20100460

Greater Kansas City Community None 501(c)(3) Kauffman Foundation match of 850,000 Foundation associate and trustee 1055 Broadway contributions 20100463 Suite 130 Kansas City,MO 641051595

The Common Good Institute Inc None 501(c)(3) Support the Government 40,000 One Metrotech Center Suite 1703 Paralysis Forum in Philadelphia, Brooklyn, NY 11201 Pennsylvania, June 15, 2010 20100464

The Board of Trustees of the Leland None 501(c)(3) Support a series of research 125,229 Stanford Junior University projects exploring the Crown Quadrangle $59 Nathan intersection of law, innovation, Abbott and economic growth Stanford,CA 943058610 20100465

Academy of Management Inc None 501(c)(3) Support travel expenses for 19,525 PO Box 3020 doctoral students attending the Braircliff Manor, NY 105108020 Entrepreneurship Division's Consortia in 2010 and 2011 20100480

Network for Teaching None 501(c)(3) Support the Network for 150,000 Entrepreneurship Teaching Entrepreneurship's 120 Wall Street 29th Floor effort to increase the success New York, NY 10005 rate of young entrepreneurs in the early stages of business development through its Advanced Entrepreneurship Seminar program 20100486

Foundation for the Carolinas None S01(c)(3) Analyze and estimate the 25,000 217 South Tryon Street economic and social benefits Charlotte, NC 28202 generated by the support provided by community and private foundations in the United States 20100487

Board of Trustees of Leland Stanford None 501(c)(3) Support research on state and 20,000 Junior Univ local regulatory barriers to 579 Serra Mall greater penetration of Stanford, CA 943056072 technologies and mechanisms that reduce the carbon content of the energy services consumed in the United States 20100491

Kairos Society None 501(c)(3) General operating support 50,000 227 Bellevue Way NE Suite 158 20100523 Bellevue, WA 98004

Bipartisan Policy Center Inc None 501(c)(3) Support the Debt Reduction 50,000 1225 Eye Street NW Suite 1000 Task Force efforts to produce a Washington, DC 20005 long-term budget plan to stabilize federal debt 20100524

Nonprofit Connect Network Learn None 501(c)(3) Support the 26th Annual 4,600 Grow Philanthropy Awards Luncheon PO Box 5813 in Kansas City, Missouri, May Kansas City, MO 64171 14, 2010 20100525

Gordon Parks Elementary School None 501(c)(3) Support the 2010 Annual Fall 4,550 3715 Wyoming Field Day Fundraiser in Kansas Kansas City, MO 64111 City, Missouri, October 2, 2010

Total ...... P' 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

National Academy of Sciences None 501(c)(3) General operating support 7,000 500 Fifth Street NW 20100530 Washington, DC 20001

La Mama Experimental Theatre Club None 501(c)(3) General operating support 1,000 Inc 20100531 74A East 4th Street NewYork,NY 10003

Theatre Development Fund Inc None 501(c)(3) General operating support 5,000 520 Eighth Ave Suite 801 20100532 NewYork,NY 10018

American Philosophical Society None 501(c)(3) General operating support 5,000 104 South 5th Street 20100533 Philadelphia,PA 191063387

Ashoka None 501(c)(3) General operating support 7,000 1700 N Moore Street 1920 20100534 Arlington,VA 22209

Institute for State Effectiveness None 501(c)(3) Support the Market Building 100,000 600 New Hampshire Avenue NW Initiative project to collate, Suite find, and refine tools for Washington, DC 20037 market-building and economic development in fragile states 20100536

University of New Hampshire None Educ Support the completion of the 30,000 McConnell Hall Institution book "Illusions of Stability 15 Academic Way Asset Price Swings and Risk in Durham,NH 03824 an Innovation Economy " 20100564

Entrepreneurs' Organization None 501(c)(3) Support the Global Student 75,000 500 Montgomery St Suite 500 Entrepreneur Awards as part of Alexandria, VA 22314 the 2010 Global Entrepreneurship Week in Kansas City, Missouri, November 17-19, 2010 20100565

Our Lady of Mt Carmel School None Educ General operating support 5,000 805 Pine Street Institution 20100566 Asbury Park, N1 07712

Ewing Marion Kauffman School Inc None 501(c)(3) Support the Ewing Marion 2,450,000 4801 Rockhill Rd Kauffman School to develop, Kansas City,MO 641102046 manage, and operate charter schools of excellence, serving the educational needs of at- risk students and preparing them to succeed in and graduate from college 20100575

Kauffman FastTrac Inc None 501(c)(3) Support Kauffman FastTrac 331,278 4801 Rockhill Road operations during the Kansas City, MO 641102046 transitional phase to a self- sustaining organization 20100578

Starlight Theatre Association None 501(c)(3) Support the Bob Rohlf 50,000 4600 Starlight Road internship program for college Kansas City,MO 64132 students interested in theatre- related careers 20100579

Harry S Truman Library Institute for None 501(c)(3) Support the Korean War 2,850 National and Veterans Appreciation International Affairs Ceremony in Kansas City, 500 W US Highway 24 Missouri, June 21, 2010 Independence,MO 64050 20100582

Boys Club of Greater Kansas City None 501(c)(3) Support the 6th Annual Base 4,700 6301 Rockhill Road Ball benefit in Kansas City, Suite 303 Missouri, June 11, 2010 Kansas City,MO 64131 20100583

The Board ofTrustees of the Leland None 501(c)(3) Support a research program, 20,000 Stanford Junior University using surveys of alumni Terman Engineering Center 3rd Fir entrepreneurs at three Stanford,CA 943054026 universities, to find out which firm strategies and characteristics drive firm performance and ultimately economic growth 20100584

Total ...... 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment Recipient If recipient is an individual, Foundation Purpose of grant or A mount show any relationship to status of contribution Name and address (home or any foundation manager recipient business) or substantial contributor

a Paid during the year

International Relations Council None 501(c)(3) Support the International 4,600 2226 Commerce Tower Relations Council's 27th Annual 911 Main Street Suite 2226 Awards Banquet in Kansas City, Kansas City,MO 641052049 Missouri, August 17, 2010 20100585

Kansas City Hospice Foundation None 501(c)(3) Support the Kansas City Hospice 2,150 9221 Ward Parkway and Palliative Care's Hospice Suite 100 Hop event in Kansas City, Kansas City,MO 64114 Missouri, August 28, 2010 20100586

Ronald McDonald House Charities of None 501(c)(3) Support the 2010 Plaza Pzazz 4,520 Kansas City event in Kansas City, Missouri, 2502 Cherry Street September 19, 2010 Kansas City,MO 64108 20100587

George Mason University Foundation None 501(c)(3) Support The Future of Collegiate 20,000 Inc Education Symposium in George Washington Univ School ofP Washington, D C , May 27, 4400 University Drive MS 1A3 2010 20100610 Fairfax,VA 220304444

Institute for Responsible Citizenship None 501(c)(3) Support for the Institute for 37,619 Inc Responsible Citizenship's 1227 25th Street NW - Sixth Floor summer leadership development Washington, DC 20037 program for young African- American men 20100614

Kauffman Laboratories for Enterprise None 501(c)(3) Support educational programs, 1,300,000 Creation Inc experiences, and initiatives 4801 Rockhill Road through which participants learn Kansas City, MO 64110 how to transform innovative, entrepreneurial ideas into high growth companies 20100615

Cleantech Open None 501(c)(3) Support CleanTech Open's 150,000 2395 Broadway St national expansion efforts to Redwood City, CA 94063 provide entrepreneurship training for clean technology entrepreneurs 20100617

Kansas City Kansas Unified School None Educ Support the Kansas City, Kansas 250,000 District #500 Institution School District's Public Library 625 Minnesota Ave Community Campaign to expand Kansas City, KS 66101 the Library's collection of adult, young adult, juvenile and reserve library materials through the Kauffman Legacy Fund 20100621

Syracuse University None Educ General operating support 25,000 900 S Crouse Ave Institution 20100622 Crouse Hinds Hall Suite 600 Syracuse,NY 132441100

Everson Museum ofArt ofSyracuse None 501(c)(3) General operating support 25,000 & 0nandaga Cnty 20100623 401 Harrison Street Syracuse,NY 13202

Education Reform Now Inc None 501(c)(3) Support writing of the book, "The 15,000 24 West 46th Street Suite 4 Bee Eater", a story of M ichelle New York, NY 10036 Rhee's quest to transform an urban public school district 20100625

Bradley University None 501(c)(3) Support a research symposium 10,000 1501 W Bradley Avenue titled "Advancing Research at Peoria, IL 61625 the Marketing/Entrepreneurship Interface PhD Students and Junior Faculty," to held in Boston, Massachusetts, August 12-13,2010 20100629

Council on Foreign Relations Inc None 501(c)(3) Support research and related 40,000 58 East 68th Street outreach activities regarding the New York, NY 10065 role of entrepreneurial activity around the world and the way it affects entrepreneurship and commercial opportunities within the United States for U S -based firms 20100630

Ohio State University None Educ Support the integration of 71,802 921 Chatham Lane Suite 100 Institution business ownership module data Columbus,OH 432212418 into the 1979 National Longitudinal Survey of Youth 20100657

The Regents of the University of None 501(c)(3) General operating support 10,000 California 20100678 1221 RMI South Davis,CA 95616

Total ...... 10, 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

Grantmakers for Education None 501(c)(3) Grantmakers for Education 5,000 720 SW Washington Street 2010 membership dues Suite 605 20100682 Portland, OR 97205

OK2GROW None 501(c)(3) General operating support 5,000 1924 S Utica Suite 900 20100683 Tulsa,OK 741040007

Justice Project None 501(c)(3) General operating support 5,000 PO Box 32804 20100684 Kansas City,MO 64171

Negro Leagues Baseball Museum Inc None 501(c)(3) Support the Negro Leagues 19,600 1616 E 18th Street Stamp Release Day in Kansas Kansas City,MO 641081610 City, Missouri, July 15, 2010 20100686

Center for a New American Security None 501(c)(3) Support the Center for a New 100,000 Inc American Security's effort to 1301 Pennsylvania Avenue NW Suite make a meaningful contribution Washington, DC 20004 to our nation's debate over economic growth 20100687

Northwestern University None Educ Support research to redesign 61,853 Rebecca Crown Center Institution the history of U S economic 633 Clark Street growth and the sources of Evanston,IL 602081110 economic growth, including a discussion of the important role of entrepreneurship 20100691

Startup Weekend None 501(c)(3) Support to build and develop 325,000 510 Lakeside Ave South 3 research tools and educational Seattle, WA 98144 material for Startup Weekend to catalyze entrepreneurial innovation 20100704

Regents of the University ofCalifornia None 501(c)(3) Support a conference to 10,000 215 Boalt Hall establish a research agenda on Berkeley, CA 947207200 the U S patent system in Berkeley, California, September 10,2010 20100707

Hope House Inc None 501(c)(3) Support for the Hope House to 195,000 PO Box 577 break the cycle of domestic Lees Summit, MO 64063 violence by providing safe refuge and supportive services that educate and empower women and their children 20100709

University of Florida LawCenter None 501(c)(3) Support a workshop on the 7,500 Association Inc research and teaching of law PO Box 14412 and entrepreneruship in Gainesville, FL 32604 Gainesville, Florida, January 27-28,2011 20100721

The Aspen Institute Inc None 501(c)(3) Aspen Network of Development 10,000 One Dupont Circle NW Entrepreneurs 2010 Suite 700 Membership dues 20100722 Washington, DC 200361133

Kansas City Missouri School District None Educ Support the Kansas City, 10,000 1211 McGee Street Institution Missouri School District's Suite 1000 board policy governance Kansas City, MO 64106 process 20100743

Council ofChiefState School Officers None 501(c)(3) Support the "Move Forward" 35,000 One Massachusetts Avenue NW meeting in September 2010 to Suite help key education leaders Washington, DC 200011431 determine how to leverage resources that would effect large-scale, transformative changes 20100746

Union for Reform Judaism None 501(c)(3) General operating support 50,000 255 Mamaroneck Road 20100768 Scarsdale, NY 105837299

National Public Radio Inc N one 501(c)(3) Support coverage of small 416,000 635 Massachusetts Avenue NW business and entrepreneurship, Washington, DC 200013753 and provide for a general operating sponsorship 20100773

Total ...... 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or Amount show any relationship to status of contribution foundation manager recipient Name and address (home or business) any or substantial contributor

a Paid during the year

Federalist Society For Law & Public None 501(c)(3) Support research and outreach 37,500 Policy Studies programs examining the impact 1015 18th Street NW of Sharia Law and financing Suite 425 principles on the legal Washington, DC 20036 environment for entrepreneurs 20100777

Endeavor Global Inc None 501(c)(3) Support the Endeavor Gala in 22,500 900 Broadway Suite 600 New York City, November 11, NewYork,NY 10003 2010 20100778

Urban Entrepreneur Partnership Inc None 501(c)(3) Support to continue the Urban 275,000 4801 Rockhill Road Entrepreneur Partnership, Kansas City, MO 64110 Inc 's minority entrepreneurship efforts as it moves toward self- sustainability 20100793

Operation Breakthrough Inc None 501(c)(3) General operating support 5,000 3039 Troost 20100794 Kansas City,MO 64109

Board of Trustees of the University of None 501(c)(3) Support research on 4,000 Illinois "Informational Frictions, 1206 S 6th Street Founding Team Composition Wohlers Hall 439 and Financing Choices" using Champaign, IL 61820 Kauffman Firm Survey data 20100799

Thomas B Fordham Institute None 501(c)(3) Support the Emerging 32,500 1016 - 16th Street NW 8th Floor Education Policy Scholars Washington, DC 20036 Program that brings up-and- coming scholars together with education policy experts to determine the best methods to translate education research into policy 20100800

The George Washington University None Educ Support to improve federal 30,000 805 21st Street NW Sixth Floor Institution economic statistics by MPA Building networking users, education, Washington, DC 20052 and program- specific efforts 20100801

Astia None 501(c)(3) Support to provide innovative 400,000 833 Market Street Suite 605 programs that ensure women- San Francisco, CA 94103 led companies gain access to capital, and achieve and sustain high growth 20100804

Urban League of Kansas City Missouri None 501(c)(3) Support the American College 10,000 1710 Paseo Blvd Test preparatory courses ACT Kansas City,MO 64108 Now' and Act Now' for G I R L S, in Kansas City, Missouri 20100805

Urban League of Kansas City Missouri None 501(c)(3) Support the Urban League of 12,000 1710 Paseo Blvd Kansas City as a partner with Kansas City, MO 64108 the National Council on Teacher Quality as it studies teacher quality in Kansas City, Missouri 20100806

Center for International Private None 501(c)(3) Support translation of the book, 30,000 Enterprise Inc "Good Capitalism Bad 1155 Fifteenth Street NW Suite 70 Capitalism" into Arabic Washington,DC 20005 20100807

Private Capital Research Institute None 501(c)(3) Support the Kauffman / PCRI 50,000 Harvard Business School Private Capital Data Initiative, Rock Center for Entrepreneurship R which will provide for the Boston,MA 02164 development of original data related to private capital 20100808

Jamestown Project None 501(c)(3) Support a national discussion 20,000 125 Mt Auburn Street Suite 329 tour entitled "Global Hip-Hop Cambridge, MA 02138 and Economic Recovery" to bring one-of- a-kind town hall meetings to ten cities across the United States to examine entrepreneurship and survival strategies related to current economic conditions 20100813

Georgia Tech Research Corporation None 501(c)(3) Support to develop a 30,000 Office of Sponsored Programs theoretical framework that 505 Tenth Street explains the rise, behavior, and Atlanta, GA 303320420 capability development of technological entrepreneurs in emerging economies 20100814

United States Association for Small None 501(c)(3) Support the 3rd Annual 25,000 Business USASBE Doctoral Consortium Entrepreneurship offered at the USASBE 2011 Belmont University 1900 Belmont BI annual conference in Hilton Nashville,TN 37212 Head, South Carolina, January 13-16,2011 20100848

Total ...... 1 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

Singularity University None 501(c)(3) Support the first Global Science 250,000 NASA Ames Research Park Bldg 20 and Technology Un-University S Akron Rd Education Program by Moffett Field,CA 940350001 sponsoring program development, faculty, and student team projects 20100851

Business-Higher Education Forum None 501(c)(3) 2010 Membership Dues 12,500 2025 M Street NW Suite 800 20100852 Washington, DC 20036

Women's Foundation of Greater None 501(c)(3) Support the 18th Annual Grants 4,700 Kansas City Awards Luncheon in Kansas 6950 Squibb Road Suite 220 City, Missouri, December 3, Mission,KS 66202 2010 20100853

The University of Missouri - Kansas None Educ Support the 25th Annual 4,250 City Institution Entrepreneur of the Year Henry W Bloch School of Business a Awards Dinner in Kansas City, 5110 Cherry Street Suite 305C Missouri, October 12, 2010 Kansas City,MO 64110 20100854

Kansas City Symphony None 501(c)(3) Support the 2010 Symphony 2,900 1703 Wyandotte Street Suite 200 Ball, "In Black & White", in Kansas City,MO 64108 Kansas City, Missouri, September 11, 2010 20100855

National Multiple Sclerosis Society None 501(c)(3) Support the "Kansas City 4,550 7611 State Line Road Suite 100 Dinner ofChampions" event in Kansas City,MO 64114 Kansas City, Missouri, September 30, 2010 20100856

Mattie Rhodes Center None 501(c)(3) Support the 2nd Annual 820 1740 Jefferson Street "Brightening Lives, Building Kansas City, MO 64108 Futures" Luncheon in Kansas City, Missouri, November 18, 2010 20100858

Guadalupe Center Inc None 501(c)(3) Support the Blanco y Negro 1,700 1015 Avenida Cesar E Chavez Annual Awards Gala in Kansas Kansas City, MO 64108 City, Missouri, September 17, 2010 20100859

Public Television 19 Inc None 501(c)(3) Support for coverage of 75,000 125 East 31st Street education issues in the Kansas Kansas City, MO 64108 City region through "The Local Show", KCPT's new weekly series 20100863

National Public Education Support None 501(c)(3) Support efforts to develop and 25,000 Fund fund support programs, 3205 R Street NW organizations, and agencies Washington, DC 20007 that maximize philanthropy's effectiveness in improving U S public education 20100864

Search Institute None 501(c)(3) Support the Big Tent 25,000 615 First Ave NE Conference in Houston, Texas, Minneapolis,MN 554132254 November 18-20, 2010, as part of the 2010 Global Entrepreneurship Week 20100865

National Association for Business None 501(c)(6) Support the Small Business 4,175 Economics Trade Panel session at the 2010 1233 20th Street NW Suite 505 National Association for Washington, DC 20036 Business Economics Annual Meeting in Washington, D C , October 10, 2010 20100867

University of Chicago None 501(c)(3) Support research on "Access to 6,000 5807 S Woodlawn Ave Credit and Small Business Chicago, IL 60637 Activity during the 2008-2009 Recession" using Kauffman Firm Survey data 20100881

University of Maryland None Educ Support research using 13,432 Van Munching Hall Institution Kauffman Firm Survey data College Park, MD 20742 20100882

Greater Kansas City Chamber of None 501(c)(6) Support the Greater Kansas 12,000 Commerce Trade City Chamber of Commerce as 2600 Commerce Towers a partner with the National 911 Main Street Council on Teacher Quality as Kansas City,MO 641052049 it studies teacher quality in Kansas City, Missouri 20100883

Total ...... 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment Recipient If recipient is an individual, Foundation Purpose of grantor Amount show any relationship to status of contribution Name and address ( home or any foundation manager recipient business) or substantial contributor

a Paid during the year

New York University None Educ Support research on the 32,300 Administration Leadership and Techn Institution relationship between higher East Building Suite 300 education experiences and New York , NY 100036674 future innovative activity 20100885

American Enterprise Institute for None 501([)(3) Support a study to examine the 60,400 Public Policy Research role of private enterprise in 1150 Seventeenth Street NW public education 20100894 Washington , DC 20036

KIPP Foundation None 501 ( c)(3) Support KIPP with matching 100,000 135 Main Street Suite 1700 funds for the Department of San Francisco , CA 94105 Education ' s 13 grant to the KIPP Foundation, the consortium of KIPP schools and regional organizations in support of KIPP's leadership development programs and network growth efforts 20100924

The George Washington University None Educ Support a conference entitled 35,000 2000 H Street Institution ' Financing Innovation' in Washington , DC 20052 Washington , D C , March 25- 26,2011 20100931

George Mason University Foundation None 501(c)(3) Support research ofuniversity 40,715 Inc presidents ' service on George Washington Univ School of P corporate boards and executive 4400 University Drive MS 1A3 compensation practices in Faufax,VA 220304444 higher education 20100936

The University of North Carolina - None Educ Recipient of the Kauffman 50,000 Chapel Hill Institution Commercialization Leaders Room 336 208 W Franklin Street Award , which provides support Campus Box 6100 to develop a comprehensive Chapel HilI , NC 27599 innovation and entrepreneurship ecosystem that will support the commercialization of technology from licensing to industry and startup companies 20100937

Carnegie Mellon University None 501([)( 3) Recipient oftho Kauffman 100,000 5000 Forbes Avenue Commercialization Leaders Pittsburgh , PA 152133891 Award, which provides support to a cadre of students who will graduate with the skills to commercialize university research and innovations 20100938

Curators ofThe University of Missouri None 501 ( [)(3) Recipient ofthe Kauffman 100,000 205 Jesse Hell Commercialization Leaders Columbia, MO 65211 Award, which provides support to encourage and foster the commercialization of new innovations by graduate students , undergraduates, and faculty , originating from the University 20100939

Resources for the Future Inc None 501 ( c((3) Support a conference in 30,000 1616 P Street NW Washington , DC, November Washington , DC 20036 2010, on the effects of federal regulations on entrepreneurship and growth 20100949

Public Forum Institute None 501 ( [)(3) Support to organize and 550,000 2300 M Street NW Suite 900 implement Global Washington , DC 20037 Entrepreneurship Week, a series of activities for the years 2011 through 2013 , designed to inspire young people to explore their potential as self- starters and innovators 20100950

Path Forward Center for Innovation None 501 ( c((3( Support the creation ofan 25,000 and implementation manual that will Entrepreneurship allow replication of the 23505 Puritan Place ACTIVATE program, a Damascus , MD 20872 systematic model for training entrepreneurs 20100951

Project Lead the Way Inc None 501 ( c)(3) Support the National Innovation 8,572 21 Corporate Dr Suite 105 Summit in Washington, D C , Clifton Park , NY 120658463 October 20 -22, 2010 20100952

Arts Incubator OfKansas City None 501(c)( 3) Support educational programs 34,100 115 West 18th Street and Initiatives through which Kansas Cny,MO 64108 creatrva industry entrepreneurs learn how to transform creative talent, entrepreneurial ideas, and skills into sound companies 20100953

Creative Commons Corporation None 501(c )( 3) Support strategic and tactical 35,000 171 Second Street Suite 300 planning for the transition of the San Francisco,CA 94105 iBridge Network from its current centralized functionality to an open-source project for technology transfer 20100954

Ljungqvist Alexander None Individual The Kauffman Prize Medal for 50,000 New York University Leonard N Ste Research in Entrepreneurship, a Business 44 West Fourth Street 9 biannual award recognizing NewYork , NY 10012 outstanding scholarly contributions in the field of entrepreneurship by scholars under the age of 40 20100969

Total ...... , 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

a Paid during the year

Urban Entrepreneur Partnership Inc None 501(c)(3) Support to continue the Urban 750,000 4801 Rockhill Road Entrepreneur Partnership, Kansas City, MO 64110 Inc 's minority entrepreneurship efforts as it moves toward self- sustainability 20101019

Boy Scouts ofAmerica None 501(c)(3) Support the 2010 4,500 10210 Holmes Road Distinguished Citizen Award Kansas City,MO 641314212 Dinner in Kansas City, Missouri, October 6, 2010 20101020

National Association of Collegiate None 501(c)(3) Support the development, 75,000 Women design, and implementation ofa Athletic Administrators web site that will promote 2000 Baltimore Suite 100 growth leadership and success Kansas City,MO 64108 of women as athletic administrators 20101021

Kansas City Area Development None 501(c)(3) Support the 2010 Annual 7,250 Foundation Meeting, KC Creativity - 2600 Commerce Tower Driving Innovation and the 911 Main Arts, in Kansas City, Missouri, Kansas City,MO 641052049 November 5, 2010 20101031

Wonderscope Inc None 501(c)(3) Support the 10th annual 2,500 5700 King Street Wonderful Night Out event Shawnee, KS 66203 Swing from the Chandeliers in Kansas City, Missouri, October 22,2010 20101033

Nonprofit Connect Network Learn None 501(c)(3) Support the 18th Annual 4,650 Grow Philanthropy Midwest PO Box 5813 Conference in Overland Park, Kansas City, MO 64171 Kansas, November 8-9, 2010 20101034

University ofMaryland None Educ Support a conference on 10,000 Van Munching Hall Institution intellectual property research College Park, MD 20742 and policy in Alexandria, Virginia, December 9, 2010 20101041

University of Washington None Educ Support the National 40,039 425 Pontius Ave N 410 Institution Consensus Panel on charter Seattle, WA 981095474 school achievement 20101042

Democracy A Journal of Ideas Inc None 501(c)(3) Support a special section on 50,000 2120 L Street NW Suite 305 entrepreneurship in the journal Washington, DC 20037 "Democracy A Journal of Ideas " 20101043

National Council On Teacher Quality None 501(c)(3) General operating support 2,500 1420 NewYork Avenue NW Suite 80 20101045 Washington, DC 20005

Foundation for Human Development None 501(c)(3) Support the Youth Leadership 25,000 and Black Achievement Development Workshop as part 1216 Brooklyn of the Southern Christian Kansas City,MO 64127 Leadership Conference's Martin Luther King, Jr Holiday Celebration in Kansas City, Missouri, January 15, 2011 20101051

Washington Legal Foundation None 501(c)(3) Support research on peer-to- 20,000 2009 Massachusetts Avenue NW peer lending and the impact on Washington, DC 20036 entrepreneurs 20101052

The Edgar Snow Memorial Fund Inc None 501(c)(3) Support the 14th Biennial 2,500 c/o Diastole Scholars Center Edgar Snow Symposium in 2501 Holmes Street Kansas City, Missouri, October Kansas City,MO 64108 18-20, 2010 20101053

The University of Missouri - Kansas None Educ Support the formation of the KC 398,938 City Institution STEM Alliance in an effort to 534B Flarsheim Hall streamline management, 5100 Rockhill Road marketing, and fundraising for Kansas City,MO 641102499 K-12 STEM programs, specifically FIRST Robotics and Project Lead the Way 20101059

Urban League of Kansas City Missouri None 501(c)(3) Supportthe 90th Anniversary 4,700 1710 Paseo Blvd Difference Maker Awards Day Kansas City, MO 64108 Luncheon in Kansas City, Missouri, December 2, 2010 20101092

Total ...... 10, 3a 41,426,880 Form 990PF Part XV Line 3 - Grants and Contributions Paid Durina the Year or Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or Amount show any relationship to status o f con t ri b u t ion Name and address (home or any foundation manager recipient business) or substantial contributor

a Paid during the year

Greater Kansas City Community None 501(c)(3) Support for the Kansas City 200,000 Foundation Education Funders 1055 Broadway Collaborative to improve Suite 130 student academic outcomes in Kansas City, MO 641051595 Kansas City area schools 20101094

American Security Project None 501(c)(3) Support research on the 45,000 1100 New York Avenue NW practical application of the Washington, DC 20005 concepts of expeditionary economics 20101101

Indiana University None Educ Support seven doctoral 15,000 Institute for Development Strategie Institution students to participate in the SPEA Building Suite 201 Ph D Summer Institute on Bloomington, IN 474051701 Entrepreneurship Research course at the University of Amsterdam, Netherlands, July 18-23,2011 20101102

University ofMaryland - College Park None Educ Support for multiple research 120,102 3112 Lee Building Institution projects that examine the College Park, MD 207425141 implications of entrepreneurship and technological change on firm and industry evolution 20101109

William Marsh Rice University None 501(c)(3) Support the 2011 Rice 35,000 Jones School Room 134 Business Plan competition in 6100 Main Street Houston, Texas, April 14-16, Houston,TX 770052932 2011 20101133

Hispanic Economic Development None 501(c)(3) Support the 17th anniversary 960 Corporation celebration, Past, Present, and of Greater Kansas City Future, in Kansas City, 2130 Jefferson Missouri, November 8, 2010 Kansas City, MO 64108 20101136

O'Reilly Media Inc None Business, Inc Support the creation ofa Maker 15,000 1005 Gravenstein Highway North Faire Playbook which will Sabastopol,CA 95472 provide communities with a plan for replicating Maker Faire educational events in communities 20101162

Greater Kansas City Community None 501(c)(3) Support for the Kauffman 41,705 Foundation Foundation's 2010 Holiday 1055 Broadway Matching Gifts program Suite 130 20101201 Kansas City,MO 641051595

Kauffman Center for the Performing None S01(c)(3) General operating support 9,050 Arts 20101204 906 Grand Blvd 11th Floor Kansas City,MO 64106

Mo Kan 2020 Vision Inc None 501(c)(3) Support the Business/Career 1,500 4223 North 127th Street Expo in Kansas City, Missouri, Kansas City,KS 66109 December 7,2010 20101205

University ofMissouri - Columbia None Educ Support the formation of the KC 9,000 307 B Reynolds Alumni Center Institution STEM Alliance in an effort to Columbia, MO 65211 streamline management, marketing, and fundraising for K-12 STEM programs, specifically FIRST Robotics and Project Lead the Way 20101206

Kauffman Laboratories for Enterprise None 501(c)(3) Support the operations and 1,500,000 Creation Inc expansion of the Kauffman 4801 Rockhill Road Laboratories for Enterprise Kansas City,MO 64110 Creation 20101207

DeLaSalle Education Center None 501(c)(3) Support for the DeLaSalle 100,000 3740 Forest Avenue Education Center to provide Kansas City,MO 641093200 students with an opportunity to improve learning and life skills 20101230

Greater Kansas City Community None 501(c)(3) Support for the Greater Kansas 2,155,000 Foundation City Community Foundation to 1055 Broadway provide grants to nonprofit Suite 130 agencies for charitable Kansas City, MO 641051595 purposes that complement the mission of the Kauffman Foundation 20101233

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SYncu•• Ilmvarany90o 5Craua• AY• NONE Educ Ch•npa th•YYay 150,000 Clou•• Hmd. H•I1 Sun• 600 In•Ulut,on r•pr•naurahip n 01.0.6 Srr•c u•• Mr 1114/1100 0.195,•774 upen•nc•a,n •n hi 9 har •0uc •UOn K•u8m•n Ce mpu••• t mil to meka ,t,,pr,n•ur• Mp •ec•bon •reeabl• craaa ampu• to •tua•nl• in Y•rr held of alley Cr••"ro n•» .ntarancnlmerr npr•n•11 mD •-I- p^o9r•ms .11 lran•m- the w.r coll•9•s and e prep... i^e.^ ^• ier •ac c.•• n ln. nomr 20070532

Unw•nny o0M•ryl•na 6•Inmor• NONE Educ Change the fly •T 840 cauntyt ooo Mn I'p c-1, Infhlm^on r.pnn•unn^pl ...dad

ON c• of lnt Pn•Id•nl Aammntr• aught, and •a D•rnncea in BDINmor•,MO 21250 Am•nc•n hlph•r•auc•NOn K. oilmen C•mpu.•. comml le mek• ntnrP'•n•uahip •auc•Imn ea table .road •rd 07to • w • l• ha la of•luar cr•.t^na n•wy ,m•ranc yOnn•ry n o npr•n•un mp •auc•lwn Pm9r•m• ." enn•rorm m• war cnn•p•• and pn D•n nue.nl• lur ueeu• m en. A ane. conpmy 300)0533

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DuI• Um-r• Hyl 121 W•t M•m NONE Eauc Suppon Fwnly-bra N•at 66,050 Stn•1 In•leuhon D•n n Ventura Fund Durh.m,NC 27101 Scnalar• Irom IS. Onal•r Ken•e• CRY 11.1 20070)82

Olathe Umnad School Dnlnct 233 NONE Educ Support ,mpl•m•nlenon of 7 060 14160 Black Bob Road In-tun- the !sD•dHIon•1Y L••rnmy PO Boa 3000 Outward Bound school 01.Yha KS 6606320DO rah- mod•I 20070664

The Lllrninp Cao0•nln•7933 M•m NONE 501(0)(3) Support lrol•m•nt0Non of 10,000 ken••• Cn7,NO 64114 the E.p•demn•ry L•ernmp Ouu•.ra Cocoa .0noel ,form moaa 20090666

C•nl•r 5cnool D»rnct1U]610•6 NONE Educ Suppen,mpl•m•nnhnn of 10,000 Rams; UIn,MO 64114 In•inuuen the Eap•a,UOn•ry LS•minp O utN•ra Bound •c hall rc rprm modal 00]01167

Bonner Spnnp• Edonr4•Y11• School NONE Educ Support impl•m•nt•NOn of 40,000 Dntnct1100 S 130th Street In•tnunon the Eap•d.t on•ry L••mm9 PO Bo. 435 'XIOulwar4 Bound •cnpol Bonn., Spnn0• KS 66012 -d.1 200]06]0

N•non•I Allnnc• lur Publ,c Chen•r NONE 501(0)(3) Adync• lh• chart., School 8 300 Scho01.1101 15th Srr••t N W Sun• In Mnaourl, 1010 Ken •ne n nett, ,n W•hmgton, OC 20005 o,dereto p00r.6• b•tnr school ..8077• for •II students 20071225

N•Nenel Bun•u of Economic R...... n NONE 501(1)(3) Support th•cneUOn of• 157,686

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C•mbr,d4e MA 021365398 end star enpr•n•un 20080031

Int•rnal,anal Fm•nc• Corponuon NONE 6000ncm•nt Support d.o.lapm•nl 0l• 354 GOD 2121 P•nn•Ylvnn Ar• NW b•nchm•rk,09 tool d••,gn•a Washington, DC 20433 to study Inn.mp•c t of r•brm• 9•,,•d towe.e cln9 the 'let' 0100.1.9 nu•^n•.F a n. l,ly 77 9 the tenant, m rorm.blr 10080036

T•acn Forom•nc• Inc 3L 5 W•t 36th NONE 501(0)(3) Suppen 05. eop•n•,ono' 500,000 Stn•t Tech For Am•nce Into lh• Tth Floor Kan••• Cny m•NOponl•n »r r tool. •e •p-ng in the 2008 school year 20060163

Keullm•n InnoyUen M•lwork 11,4801 NONE Pnr•t• AdO•nca ln• •cnnullc and 650 000 50105,11 Rood Foundation •chnaloalc•1 knowl•dpa and Kayos Cny,MO 64110 100 d•Y•lop•d by (C"3)., •1.a ether 501 .nun. n•e•rcn n•Utut-, b y -1:r m 9 dminmmnel -.!,tI,q to d4 ,F••mmeu •-nufic enc. , u "w and fec9H•Hn9 b•u•ne•rc 15750 of A ct 0 7 with the Beyh D0a1. le Act 011980 100801]5

Tote. 1 56 631999 861 Form 99OPF Part )[V Line 3b - Grants and Contributions Approved for Future Payment Recipient If recipient is an individual, Foundation Purpose of grant or Amount show any relationship to status of contribution foundation manager recipient Name and address (home or business) any or substantial contributor

b Approved for future payment

City of Kansas City MO-Office of the NONE Government Encourage community-wide 25,000 City Manager29th Floor City Hall understanding of and 414 East 12th Street appreciation of the earth and Kansas City, MO 64106 space science by supporting the installation and maintenance of the Voyage Solar System scale-model exhibit in downtown Kansas City, Missouri 20080354

Patterson Kelly110 Terrace P1 Apt 1 NONE Individual Fellowships for Ph D 3,000 Ithaca,NY 14850 candidates writing dissertations in entrepreneurship 20080479

Newyork University4O Washington NONE Educ Support the Kauffman Legal 60,000 Square South 406D Institution Fellows program 20085056 New York, NY 10012

National Bureau of Economic Research NONE 501(c)(3) Support research by the 1,906,545 Inc 1050 Massachusetts Avenue Entrepreneurship Working Cambridge, MA 021385398 Group, the Innovation Policy and the Economy Working Group, and the Entrepreneurship Research Boot Camp at the National Bureau of Economic Research 20085070

Carnegie Mellon UniversityDepartment NONE Educ Support the Consortium on 10,000 of Social and Decision S Institution Competition and Porter Hall 208 Cooperation Doctoral Pittsburgh, PA 15213 Colloquium in 2008-2010 20085087

University of California-Berkeley NONE Educ Support the A Richard 220,000 College of Engineering Institution Newton Distinguished 320 McLaughlin Hall Innovator Lecture Series Berkeley,CA 947201700 and the annual Global Technology Leaders Conference 20085155

Boston University School of Law765 NONE Educ Support Boston University's 158,000 Commonwealth Ave Institution School of Law research Boston, MA 02215 project on law, innovation and economic growth 20085481

Columbia University School ofLaw435 NONE Educ Support Columbia 149,546 West 116 Street Institution University's School of Law Jerome Greene Hall Rm 724 research project on law, New York, NY 10027 innovation, and economic growth 20085482

University oflowa College of Law280 NONE Educ Support University of Iowa's 82,502 Boyd Law Building Institution College of Law research Iowa City, IA 522421113 project on law, innovation, and economic growth 20085485

Kansas City Public Library Districtl4 NONE 501(c)(3) Support general operations 3,200,000 West 10th Street to expand community Kansas City,MO 64105 education programs and establish an entrepreneurs' resource area 20085924

Kansas City Public Library Distnctl4 NONE 501(c)(3) Expand and create a 200,000 West 10th Street permanent home for the Kansas City, MO 64105 BlackArchivesofMid- America 20085925

Ahmed 3aved600 Gooding Way Apt NONE Individual Fellowships for Ph D 3,000 617 candidates writing Albany,CA 94706 dissertations in entrepreneurship 20086215

Bhawe Nachiket1901 Minnehaha Ave NONE Individual Fellowships for PhD 3,000 Apt 414 candidates writing Minneapolis, MN 55404 dissertations in entrepreneurship 20086216

Bryan Gharad37 Trumbull Street Apt NONE Individual Fellowships for PhD 3,000 4A candidates writing NewHaven,CT 06510 dissertations in entrepreneurship 20086219

Marker Kathleen1501 Tulane NONE Individual Fellowships for PhD 3,000 Claremont, CA 91711 candidates writing dissertations in entrepreneurship 20086224

Total ...... Oil 3b 63,999,861 Form 99OPF Part XV Line 3b - Grants and Contributions Apuroved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or A mount show any relationship to status of contribution manager recipient Name and address (home or business) any foundation or substantial contributor

b Approved for future payment

Lin Mingfeng5440 Marinelli Road Apt NONE Individual Fellowships for PhD 3,000 208 candidates writing Rockville, MD 20852 dissertations in entrepreneurship 20086225

O'ConnorJason6618 N Ashland Apt NONE Individual Fellowships for PhD 3,000 3A candidates writing Chicago,IL 60626 dissertations in entrepreneurship 20086226

Kansas University Endowment NONE 501(c)(3) Support to establish the 4,860,000 AssociationPO Box 928 Institute for Advancing 1891 Constant Ave Medical Innovation at the Lawrence, KS 660440928 University of Kansas 20086282

Greater Kansas City Community NONE 501(c)(3) Support to create a Kansas 1,000,000 Foundation1055 Broadway City Life Sciences Fund to Suite 130 support life science research Kansas City,MO 641051595 in the Kansas City area 20090011

RAND CorporationPO Box 2138 NONE 501(c)(3) Support to continue the 275,000 1776 Main Street Kauffman-RAND Institute for Santa Monica, CA 904072138 Entrepreneurship Public Policy's research activities 20090039

Duke Universityl Towerview Drive NONE Educ Fellowships to support 25,000 Durham, NC 27708 Institution Research in Entrepreneurship by junior faculty members 20090041

National Postdoctoral Association NONE 501(c)(3) Support the creation of the 65,600 1200 New York Avenue NW Suite 635 Ewing Marion Kauffman Washington, DC 20005 Foundation Postdoctoral Entrepreneur Award to be presented at the annual meetings ofThe National Postdoctoral Association 20090197

University of Washington318 NONE Educ Support the Doctoral 15,000 Mackenzie Hall Institution Consortium on Technology Box 353200 Entrepreneurship forthe Seattle, WA 98115 years 2009 through 2011 20090205

Kansas University Endowment NONE 501(c)(3) Support to establish the 200,000 AssociationPO Box 928 Kansas City Area 1891 Constant Ave Educational Research Lawrence, KS 660440928 Consortium 20090240

President and Fellows of Harvard NONE 501(c)(3) Fellowships to support 25,000 College1737 Cambridge Street Research in Cambridge, MA 02163 Entrepreneurship by junior faculty members 20090599

President and Fellows of Harvard NONE 501(c)(3) Fellowships to support 25,000 College25 Shattuck Street Research in Boston, MA 02115 Entrepreneurship by junior faculty members 20090602

University ofPennsylvania3620 NONE Educ Support the annual seminar 5,000 Locust Walk Institution on the Evolution of Suite 2000 Steinberg Hall-Dietrich Organizations and Industries Philadelphia,PA 191046370 to be held in 2010, 2011, and 2012 20090759

Manhattan Institute for Policy NONE 501(c)(3) Support the Manhattan 100,000 Research Inc52 Vanderbilt Avenue Institute's City Journal New York, NY 10017 magazine 20090879

Partnership for C hildren4049 NONE 501(c)(3) Support the development of a 10,000 Pennsylvania Ave Suite 120 Children and Youth Action Kansas City,MO 64111 Agenda to address educational, social and emotional challenges facing Kansas City young people 20090913

Duke University3120 Fitzpatrick NONE 501(c)(3) Support research on several 50,000 Center projects Differing levels of Box 90300 success among Durham,NC 277080300 entrepreneurs, university research commercialization efforts, and an expansion on previous research on immigrant entrepreneurs 20091013

Total ...... 3b 63,999,861 . Form 99OPF Part XV Line 3b - Grants and Contributions Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or Amount show any relationship to status of contribution Name and address (home or business) any foundation manager recipient or substantial contributor

b Approved for future payment

Li Xiaoyang2007 Huron Parkway Apt 5 NONE Individual Fellowships for PhD 3,000 Ann A rbor, M I 48104 candidates writing dissertations in entrepreneurship 20091093

Choi EmilyHaas School of Business NONE Individual Fellowships for PhD 3,000 545 Student Services 1900 candidates writing Berkeley, CA 94720 dissertations in entrepreneurship 20091095

Carlos William Chad49 Dart Drive NONE Individual Fellowships for Ph D 3,000 Ithaca, NY 14850 candidates writing dissertations in entrepreneurship 20091096

Fries Kellilynn M30443 Blume Circle NONE Individual Fellowships for PhD 3,000 Menifee,CA 92584 candidates writing dissertations in entrepreneurship 20091097

Luo Hong181 Thompson Street Apt 26 NONE Individual Fellowships for Ph D 3,000 New York, NY 10012 candidates writing dissertations in entrepreneurship 20091098

Kryscynski David G1963 Westminster NONE Individual Fellowships for PhD 3,000 Way candidates writing Atlanta, GA 30307 dissertations in entrepreneurship 20091099

Hausman Naomi 035 Banks Street NONE Individual Fellowships for PhD 3,000 Apt 2 candidates writing Cambridge, MA 02138 dissertations in entrepreneurship 20091100

McDonald Rory92 Thoburn Court 106 NONE Individual Fellowships for Ph D 3,000 Stanford,CA 94305 candidates writing dissertations in entrepreneurship 20091101

Amand Marmx26 Cottage Street NONE Individual Fellowships for PhD 3,000 New Haven, CT 06511 candidates writing dissertations in entrepreneurship 20091102

Suarez Juan Carlos5081 Evans Hall NONE Individual Fellowships for Ph D 3,000 3880 candidates writing Berkeley, CA 94720 dissertations in entrepreneurship 20091103

Wagner Rodrigo A24 Peabody Terrace NONE Individual Fellowships for PhD 3,000 Apt 514 candidates writing Cambridge, MA 02138 dissertations in entrepreneurship 20091105

Sarada4056 5 Front Street NONE Individual Fellowships for PhD 3,000 San Diego,CA 92103 candidates writing dissertations in entrepreneurship 20091106

Joshi Amol M1852 Wysong Court NONE Individual Fellowships for PhD 3,000 Raleigh, NC 27612 candidates writing dissertations in entrepreneurship 20091107

Yavuz Rukiye 13-365 Carlson School NONE Individual Fellowships for PhD 3,000 of Management candidates writing Minneapolis, MN 55455 dissertations in entrepreneurship 20091108

Urban Entrepreneur Partnership Inc NONE 501(c)(3) Support general operations 100,000 4801 Rockhill Road for minority entrepreneurship Kansas City,MO 64110 efforts in Detroit, Michigan as part of the UEP Detroit 150 program 20091192

Total ...... 3b 63,999,861 Form 990PF Part XV Line 3b - Grants and Contributions Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or Amount show any relationship to status of contribution foundation manager Name and address (home or business) any recipient or substantial contributor

b Approved for future payment

National Center for Policy Analysis NONE 501(c)(3) Support a major research 100,000 12770 Colt Rd Suite 800 project on regulatory reform Dallas,TX 75251 to help entrepreneurs meet the essential needs of low- income families 20100035

Yale University127 Wall Street Room NONE Educ Support the creation of the 367,500 354 Institution Kauffman Program in Law, New Haven, CT 06511 Economics, and Entrepreneurship at Yale Law School, and for continued support of the Information Society Project at Yale Law School 20100046

Greater Kansas City Community NONE 501(c)(3) Support to create and 900,000 Foundation1055 Broadway develop a world-class Suite 130 enterprise at the University Kansas City,MO 641051595 of Missouri, Kansas City, devoted to the research and teaching of entrepreneurship at the Institute for Entrepreneurship and Innovation 20100060

HeartofAmerica United Way1080 NONE 501(c)(3) Kauffman Foundation match 80,690 Washington Street of associate contributions Kansas City,MO 64105 20100063

University of Wisconsin - Madison NONE Educ Support research on the 14,934 5283 Grainger Hall Institution human capital compositions 975 University Avenue of start-up teams Madison,WI 53706 20100112

Duke Umversity3120 Fitzpatrick NONE 501(c)(3) Support the writing ofa book 37,500 Center that will summarize research Box 90300 on U S global Durham, NC 277080300 competitiveness and its relation to policies regarding entrepreneurship, innovation, and immigration 20100149

The Aspen Institute IncO no Dupont NONE 501(c)(3) Support the annual Aspen 20,000 Circle NW Institute Seminar for Mid- Suite 700 America Foundation CEOs Washington, DC 200361133 for each of the years 2010 through 2012 20100156

Georgia Tech Research Corporation NONE 501(c)(3) Support for annual research 20,000 Office of Sponsored Programs conferences in each of the 505 Tenth Street years 2010 through 2012 on Atlanta, GA 303320420 technology entrepreneurship that specifically encourages and fosters young scholars 20100268

University ofChicagollll East 60th NONE Educ Support two Kauffman 10,000 Street Institution Student Fellowships for work Chicago,IL 60637 in entrepreneurship at the University of Chicago Law School 20100349

George Mason University3301 Fairfax NONE Educ Support a book and 55,000 Drive MS 1G3 Institution conference entitled "The Arlington, VA 22201 American Illness", which will explore the impact America's rule of law on entrepreneurship and economic growth 20100421

Public Forum Institute2300 M Street NONE 501(c)(3) Support the Policy Dialogue 53,000 NW Suite 900 on Entrepreneurship Washington, DC 20037 newsletter 20100448

The Board of Trustees of the Leland NONE 501(c)(3) Support a series of research 132,010 Stanfordiunior University projects exploring the Crown Quadrangle 559 Nathan Abbott intersection of law, Stanford, CA 943058610 innovation, and economic growth 20100465

Academy of Management IncPO Box NONE 501(c)(3) Support travel expenses for 20,475 3020 doctoral students attending Braircliff Manor, NY 105108020 the Entrepreneurship Division's Consortia in 2010 and2011 20100480

Ewing Marion Kauffman School Inc NONE 501(c)(3) Support the Ewing Marion 7,550,000 4801 Rockhill Rd Kauffman School to develop, Kansas City,MO 641102046 manage, and operate charter schools of excellence, serving the educational needs of at-risk students and preparing them to succeed in and graduate from college 20100575

Kauffman FastTrac 1nc4801 Rockhill NONE 501(c)(3) Support Kauffman FastTrac 193,885 Road operations during the Kansas City,MO 641102046 transitional phase to a self- sustaining organization 20100578

Total ...... 3b 63,999,861 Form 990PF Part XV Line 3b - Grants and Contributions Approved for Future Payment

b Approved for future payment

Cleantech Open2395 Broadway St NONE 501(c)(3) Support CleanTech Open's 50,000 Redwood City, CA 94063 national expansion efforts to provide entrepreneurship training for clean technology entrepreneurs 20100617

Kansas City Kansas Unified School NONE Educ Support the Kansas City, 250,000 District 1500625 Minnesota Ave Institution Kansas School District s Kansas City,KS 66101 Public Library Community Campaign to expand the Library's collection of adult, young adult, juvenile and reserve library materials through the Kauffman Legacy Fund 20100621

Education Reform Now I nc24 West NONE 501(c)(3) Support writing of the book, 5,000 46th Street Suite 4 "The Boo Eater", a story of New York, NY 10036 Michelle Rhea's quest to transform an urban public school district 20100625

Bradley University1501 W Bradley NONE 501(c)(3) Support a research 10,000 Avenue symposium titled "Advancing Peoria, IL 61625 Research at the Marketing/Entrepreneurship Interface PhD Students and Junior Faculty," to be held in Boston, Massachusetts, August 12-13, 2010 20100629

Ohio State Umversity921 Chatham NONE Educ Support the integration of 137,652 Lane Suite 100 Institution business ownership module Columbus,OH 432212418 data into the 1979 National Longitudinal Survey of Youth 20100657

Northwestern UniversityRebecca NONE Educ Support research to redesign 63,564 Crown Center Institution the history of U S economic 633 Clark Street growth and the sources of Evanston,IL 602081110 economic growth, including a discussion ofthe important role of entrepreneurship 20100691

Startup Weekend510 Lakeside Ave NONE 501)c)(3) Support to build and develop 75,000 South 3 research tools and Seattle, WA 98144 educational material for Startup Weekend to catalyze entrepreneurial innovation 20100704

Board ofTrustees of the University of NONE 501(c)(3) Support a nationwide 20,000 Illinois504 East Armory Avenue MC- assessment of self- 504 employment programs Champaign, IL 61820 providing policy makers with information to enhance the effectiveness of these programs 20100708

Federalist Society For Law& Public NONE 501)c)(3) Support research and 82,500 Policy Studies1015 18th Street NW outreach programs examining Suite 425 the impact of Shane Law and Washington, DC 20036 financing principles on the legal environment for entrepreneurs 20100777

Urban Entrepreneur Partnership Inc NONE 501(c((3) Support to continue the Urban 275,000 4801 Rockhill Road Entrepreneur Partnership, Kansas City, MO 64110 Inc 's minority entrepreneurship efforts as it moves toward self- sustainability 20100793

Board ofTrustees ofthe University of NONE 501(c)(3) Support research on 1,000 Illinois 1206 S 6th Street "Informational Frictions, Wohlers Hall 439 Founding Team Composition Champaign, IL 61820 and Financing Choices" using Kauffman Firm Survey data 20100799

Thomas B Fordham Institute1016 - NONE 501(c)(3) Support the Emerging 64,500 16th Street NW 8th Floor Education Policy Scholars Washington, DC 20036 Program that brings up-and- coming scholars together with education policy experts to determine the best methods to translate education research into policy 20100800

The George Washington University NONE Educ Support to improve federal 19,500 805 21st Street NW Sixth Floor Institution economic statistics by MPA Building networking users, education, Washington, DC 20052 and program-specific efforts 20100801

Astia833 Market Street Suite 605 NONE 501)c((3) Support to provide innovative 100,000 San Francesco, CA 94103 programs that ensure women- led companies gain access to capital, and achieve and sustain high growth 20100804

Private Capital Research Institute NONE 501([)(3) Support the Kauffman / PC RI 149,500 Harvard Business School Private Capital Data Rock Center for Entrepreneurship R Initiative, which will provide Boston, MA 02164 for the development of original data related to private capital 20100808

Total ...... ,' 3b 63,999,861 Form 990PF Part XV Line 3b - Grants and Contributions Approved for Future Payment

Recipient If recipient is an individual, Foundation Purpose of grant or Amount show any relationship to status of contribution recipient Name and address (home or business) any foundation manager or substantial contributor

b Approved for future payment

Jamestown Project125 Mt Auburn NONE 501(c)(3) Support a national 20,000 Street Suite 329 discussion tour entitled Cambridge, MA 02138 'Global Hip-Hop and Economic Recovery" to bring one-of-a-kind town hall meetings to ten cities across the United States to examine entrepreneurship and survival strategies related to current economic conditions 20100813

Georgia Tech Research Corporation NONE 501([)(3) Support to develop a 17,000 Office of Sponsored Programs theoretical framework that 505 Tenth Street explains the rise, behavior, Atlanta,GA 303320420 and capability development of technological entrepreneurs in emerging economies 20100814

University ofChicago5807 S NONE 501(c)(3) Support research on 6,000 Woodlawn Ave 'Access to Credit and Smell Chicago, IL 60637 Business Activity during the 2008-2009 Recession" using Kauffman Firm Survey data 20100881

University of MarylandV an Munching NONE Educ Support research using 11,000 Hall Institution Kauffman Firm Survey data College Park, MD 20742 20100882

American Enterprise Institute forPubllc NONE 501(c)(3) Support a study to examine 20,000 Policy Research the role of private enterprise 1150 Seventeenth Street NW in public education Washington, DC 20036 20100894

KIPP Faundation135 Main Street Suite NONE 501(c)(3) Support KIPP with matching 400,000 1700 funds for the Department of San Francisco, CA 94105 Education's 13 grant to the KIPP Foundation, the consortium of KIPP schools and regional organizations in support of KIPP's leadership development programs and network growth efforts 20100924

The University of North Carolina - NONE Educ Recipient of the Kauffman 50,000 Chapel HilIRvom 336 208 W Franklin Institution Commercialization Leaders Street Award, which provides Campus Box 6100 support to develop a Chapel Hill, NC 27599 comprehensive innovation and entrepreneurship ecosystem that will support the commercialization of technology from licensing to industry and start companies 20100937

The Board ofTrustees of theLeland NONE 501(c)(3) Support the writing ofa book 33,000 Stanford Junior University on Expeditionary Economics 434 Galvez Mall and U S State Department Stanford,CA 94305 and USAID reforms 20100948

Public Forum Institute2300 M Street NONE 501(c)(3) Support to organize and 2,750,000 NW Suite 900 implement Global Washington, DC 20037 Entrepreneurship Week, a series of activities for the years 2011 through 2013, designed to inspire young people to explore their potential as self-starters and innovators 20100950

Path Forward Center for tnnovationand NONE 501([)(3) Support the creation of an 17,375 Entrepreneurship Inc implementation manual that 23505 Puritan Place will allow replication of the Damascus, MD 20872 ACTiVATE program, a systematic model for training entrepreneurs 20100951

Urban Entrepreneur Partnarship Inc NONE 501(c)(3) Support to continue the 2,200,000 4801 Rockhill Road Urban Entrepreneur Kansas City,MO 64110 Partnership, Inc's minority entrepreneurship efforts as it moves toward self- sustainability 20101019

National Association of Collegiate NONE 501([)(3) Support the development, 25,000 Women AthleticA dministrators design, and implementation 2000 Baltimore Suite 100 of a web site that will Kansas City,MO 64108 promote growth leadership and success of women as athletic administrators 20101021

Saint Louis University3674 Lindell NONE Educ Support the Gateway to 16,000 Blvd Institution Entrepreneurship Research St Louis, MO 63108 Conferences to be held in the years 2011 and 2012 20101023

University ofWashington425 Pontius NONE Educ Support the National 10,000 Ave N 410 Institution Consensus Panel on charter Seattle, WA 981095474 school achievement 20101042

Democracy A Journal of Ideas Inc NONE 501([)(3) Support a special section on 50,000 2120 L Street NW Suite 305 entrepreneurship in the Washington, DC 20037 journal "Democracy A Journal of Ideas " 20101043

Total ...... ' 3b 63,999,861 Form 990PF Part XV Line 3b - Grants and Contributions Approved for Future Payment

b Approved for future payment

University of Maryland - College Park NONE Educ Support for multiple research 70,101 3112 Lee Building Institution projects that examine the College Park, MD 207425141 implications of entrepreneurship and technological change on firm and industry evolution 20101109

O'Reilly Media Inc1005 Gravenstein NONE Business, Inc Support the creation ofa 10,000 Highway North Maker Faire Playbook which Sabastopol,CA 95472 will provide communities with a plan for replicating Maker Faire educational events in communities 20101162

Kauffman Laboratories for Enterprise NONE 501(c)(3) Support the operations and 21,500,000 Creation Inc4801 Rockhill Road expansion of the Kauffman Kansas City, MO 64110 Laboratories for Enterprise Creation 20101207

Total ...... 3b 63,999,861 l efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261

TY 2010 Accounting Fees Schedule

Name: Ewing Manon Kauffman Foundation EIN: 43-6064859

Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

BSR & CO 12,977 12,977

CBIZ MHM LLC - AUDIT 64,688 64,688 SERVICES

JMW &ASSOC, LLC - TAX 24,160 6,395 17,765 PREP

KPMG - TAIWAN - TAX 18,391 18,391 PREP lefile GRAPHIC print - DO NOT PROCESS I As Filed Data - I DLN: 93491318002261

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing. TV 2010 Depreciation Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859 lefile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261 TY 2010 Distribution from Corpus Election

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859 Election : Pursuant to IRC Section 4942(h)(2) and Regulation 53.4942(a)-3 (d)(2), the above referenced foundation hereby elects to treat current-year qualifying distributions in excess of the immediately preceding tax year's undistributed income as being made out of Corpus. lefile GRAPHIC print - DO NOT PROCESS I As Filed Data - I DLN: 93491318002261

Note : To capture the full content of this document, please select landscape mode (11" x 8 .5") when printing. TY 2010 Expenditure Responsibility Statement

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859

Grantee' s Name Grantee' s Grant Date Grant Grant Amount Expended By Any Diversion By Dates of Reports By Date of Results of Address Amount Purpose Grantee Grantee? Grantee Verification Verification

SEE ATTACHMENT NO D l efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261

TY 2010 Investments Corporate Bonds Schedule

Name : Ewing Manon Kauffman Foundation EIN: 43-6064859

Name of Bond End of Year Book End of Year Fair Value Market Value

SEE ATTACHMENT 1 2,018,984 10,424,836 efiie GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261

TY 2010 Investments Corporate Stock Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859

Name of Stock End of Year Book End of Year Fair Value Market Value 3M CO 650,812 662,784 AAC TECHNOLOGIES HOLDINGS IN 941,083 1,338,582 ABBOTT LABORATORIES 0 0 ABSA GROUP LTD 0 0 ACCENTURE PLC CL A 1,297,862 1,509,494 ACCO BRANDS CORP 0 0 ACCOR SA 0 0 ACE LTD 620,389 690,975 ACME PACKET INC 0 0 ACME UNITED CORP 612,599 657,499 ACS ACTIVIDADES CONS Y SERV 576,292 545,743 ACTELION LTD REG 0 0 ADDUS HOMECARE CORP 0 0 ADECCO SA REG 1,218,079 1,570,513 ADERANS CO LTD 353,084 387,054 ADVANCE AUTO PARTS INC 0 0 ADVANCED INFO SERVICE FOR RG 680,130 729,729 ADVANCED MICRO DEVICES 925,574 928,389 AEGEAN MARINE PETROLEUM NETW 0 0 AEROPOSTALE INC 0 0 AES CORP 0 0 AES TIETE SA PREF 289,103 315,181 AF AB B SHS 0 0 AFFYMETRIX INC 0 0 AFLAC INC 0 0 AGGREKO PLC 0 0 AGILENT TECHNOLOGIES INC 430,388 551,019 AGNICO EAGLE MINES LTD 0 0 AIR FRANCE KLM 0 0 AIR LIQUIDE PRIME DE FIDELITE 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value AIRTRAN HOLDINGS INC 0 0 AIXTRO N AG 0 0 AJISEN CHINA HOLDINGS LTD 0 0 AKAMAI TECHNOLOGIES INC 814,687 875,130 ALAMOS GOLD INC 1,356,908 1,393,166 ALIMENTATION COUCHE TARD B 524,112 934,089 ALL AMERICAN GROUP INC 2,048,994 38,700 ALLEGHENY TECHNOLOGIES INC 0 0 ALLIANCE ONE INTERNATIONAL 1,530,811 1,558,768 ALLIANT ENERGY CORP 0 0 ALLIANTTECHSYSTEMS INC 0 0 ALLSTATE CORP 1,566,580 1,493,100 ALMOST FAMILY INC 303,490 361,148 ALNYLAM PHARMACEUTICALS INC 86 39 ALPHA NATURAL RESOURCES INC 0 0 ALPHA PRO TECH LTD 0 0 ALSTOM 0 0 ALTRAN TECHNOLOGIES SA 634,732 477,429 ALTRIA GROUP INC 656,904 994,648 AMEDISYS INC 0 0 AMERICA S CAR MART INC 285,806 435,988 AMERICAN DENTAL PARTNERS INC 276,241 302,624 AMERICAN EXPRESS CO 0 0 AMERICAN GREETINGS CORP CL A 1,820,011 2,033,734 AMERICAN ITALIAN PASTA CO A 0 0 AMERICAN PHYSICIANS SVC GP 0 0 AMERICAN SUPERCONDUCTOR CORP 0 0 AMERICAN TOWER CORP CL A 0 0 AMERICAN WATER WORKS CO INC 2,057,390 2,594,754 AMERIGON INC 169,615 297,024 Name of Stock End of Year Book End of Year Fair Value Market Value AMERISOURCEBERGEN CORP 492,128 576,628 AMGEN INC 529,152 527,040 AMICAS INC 0 0 ANALOGIC CORP 190,799 234,182 ANAREN INC 345,629 523,335 ANGLO AMERICAN PLC 244,715 328,478 ANHEUSER BUSCH INBEV NV 589,821 567,810 ANNALY CAPITAL MANAGEMENT IN 1,131,506 1,240,064 ANRITSU CORP 1,996,329 2,308,230 ANSALDO STS SPA 1,130,011 1,258,375 AOL INC 1,510,679 1,454,134 AON CORP 380,359 451,818 APAC CUSTOMER SERVICES INC 0 0 APACHE CORP 1,102,234 1,645,374 APOLLO GROUP INC CL A 0 0 APPLIED MATERIALS INC 1,412,652 1,579,220 APPROACH RESOURCES INC 0 0 ARCADIS NV 666,102 712,575 ARCH CAPITAL GROUP LTD 271,110 308,175 ARM HOLDINGS PLC SPONS ADR 1,354,886 1,672,450 ARROW ELECTRONICS INC 888,040 1,048,050 ART TECHNOLOGY GROUP INC 0 0 ARTHUR I GALLAGHER + CO 0 0 ARTIFICIAL LIFE INC 172,440 129,185 ARUBA NETWORKS INC 0 0 AS ONE CORP 310,761 298,921 ASCENDAS REAL ESTATE INV TRT 615,772 664,119 ASICS CORP 1,387,727 1,428,815 ASM INTERNATIONAL NV 1,329,671 1,502,639 ASML HOLDING NV 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value ASOS PLC 0 0 ASPEN INSURANCE HOLDINGS LTD 343,962 341,150 ASPEN PHARMACARE HOLDINGS LT 0 0 ASSA ABLOY AB B 550,282 1,344,541 ASSOCIATED BRITISH FOODS PLC 442,126 547,314 ASSURANTINC 0 0 ASIA FUNDING INC 112,811 115,020 ASTELLAS PHARMA INC 921,700 845,635 ASTRAZENECA PLC 1,065,566 1,108,893 AT+T I NC 0 0 ATHEROS COMMUNICATIONS 0 0 ATLANTIC TELE NETWORK INC 188,782 354,798 ATLAS AIR WORLDWIDE HOLDINGS 0 0 ATMEL CORP 874,798 1,260,336 ATP OIL + GAS CORPORATION 1,618,436 1,493,041 ATWOOD OCEANICS INC 489,707 1,046,360 AUDIOVOX CORP A 1,718,459 1,961,116 AUSENCO LTD 0 0 AUSNUTRIA DAIRY CORP LTD 0 0 AUST AND NZ BANKING GROUP 0 0 AUTODESK INC 0 0 AUTONOMY CORPORATION PLC 0 0 AUTOZONE INC 825,825 1,063,101 AVEVA GROUP PLC 661,261 825,684

AVIS BUDGET GROUP INC 0 0 AXA SA 570,791 510,255 AZ ELECTRONIC MATERIALS 1,405,781 1,452,711 BABCOCK + WILCOX CO/THE 1,098,129 1,344,806 BAIDU INC SPON ADR 831,312 955,647 BAKER HUGHES INC 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value BALCHEM CORP 157,814 378,672 BANCO COMPARTAMOS SA 0 0 BANCO PANAMERICANO SA 0 0 BANCO SANTANDER SA 1,482,922 1,467,753 BANCORP RHODE ISLAND INC 389,021 398,533 BANG + OLUFSEN A/S 0 0 BANGKOK BANK 0 0 BANGKOK BANK FOREIGN REG 0 0 BANGKOK BANK PUBLIC CO NVDR 388,430 587,854 BANK OF AMERICA CORP 1,845,608 1,697,528 BANK OF IRELAND 0 0 BANK OF IRELAND 0 0 BANK OF MONTREAL 283,410 416,501 BANKERS PETROLEUM LTD 1,470,104 1,364,566 BANKINTER SA 0 0 BANNER CORPORATION 1,408,400 1,633,744 BARCLAYS PLC SPONS ADR 0 0 BARE ESCENTUALS INC 0 0 BARNES + NOBLE INC 3,398,785 2,416,113 BARRETT BUSINESS SVCS INC 496,140 455,615 BARRICK GOLD CORP 2,624,229 3,749,456 BASF SE 525,443 738,515 BASSETT FURNITURE INDS 631,045 326,340 BAUER AG 1,259,635 1,335,460 BCE INC 433,129 590,393 BE AEROSPACE INC 0 0 BECKMAN COULTER INC 1,164,167 1,612,179 BECTON DICKINSON AND CO 0 0 BEL FUSE INC CL B 445,082 556,870 BEMIS COMPANY 212,506 223,721 Name of Stock End of Year Book End of Year Fair Value Market Value BENETEAU 1,544,850 1,703,187 BENIHANA INC 147,247 217,459 BERKELEY GROUP HOLDINGS 346,585 395,957 BERTRANDT AG 1,876,347 2,018,145 BEST BUY CO INC 252,677 235,229 BETER BED HOLDING NV 455,749 647,435 BIESSE SPA 1,263,736 576,015 BIG YELLOW GROUP PLC 814,777 968,615 BIOGEN IDEC INC 0 0 BIOMED REALTY TRUST INC 513,828 936,230 BIOSCRIP INC 0 0 B] S WHOLESALE CLUB INC 0 0 BMC SOFTWARE INC 416,082 438,402 BOART LONGYEAR GROUP 2,593,087 3,189,353 BOC HONG KONG HOLDINGS LTD 0 0 BOEING CO/THE 1,468,982 1,406,353 BOFI HOLDING INC 37,517 38,775 BOOTS + COOTS INC 0 0 BORGWARNER INC 902,917 1,208,412 BOSTON BEER COMPANY INC CL A 0 0 BOURBON SA 483,694 668,211 BOURSORAMA 1,501,620 1,272,201 BOWNE +CO INC 0 0 BP PLC 0 0 BR PROPERTIES SA 1,104,649 1,287,610 BRADKEN LTD 1,919,958 2,150,256 BRIGHAM EXPLORATION CO 0 0 BRISTOL MYERS SQUIBB CO 907,300 873,390 BRITISH AMERICAN TOBACCO PLC 697,995 963,474 BROWN FORMAN CORP CLASS B 796,932 1,093,034 Name of Stock End of Year Book End of Year Fair Value Market Value BROWN SHOE COMPANY INC 0 0 BRYN MAWR BANK CORP 317,703 246,045 BUCHER INDUSTRIES AG REG 861,555 1,383,206 BUFFALO WILD WINGS INC 0 0 BULGARI SPA 586,664 777,690 BUREAU VERITAS SA 289,780 433,729 BWIN INTERACTIVE ENTERTAINME 1,097,009 973,233 CABOT MICROELECTRONICS CORP 365,802 433,982 CACI INTERNATIONAL INC CL A 0 0 CAI INTERNATIONAL INC 468,647 523,320 CAIXABANK 407,663 408,795 CALAVO GROWERS INC 0 0 CALLAWAY GOLF COMPANY 0 0 CALLON PETROLEUM CO 0 0 CALTEX AUSTRALIA LTD 404,202 461,844 CAMPBELL SOUP CO 2,409,284 2,611,115 CANADIAN NATURAL RESOURCES 3,331,038 3,831,669 CANADIAN UTILITIES LTD A 259,047 448,931 CANADIAN WESTERN BANK 1,871,383 2,048,119 CANON INC 1,827,818 2,626,546 CAPITAL ONE FINANCIAL CORP 960,407 876,736 CARL ZEISS MEDITEC AG 0 0 CARMAX INC 0 0 CARREFOUR SA 652,750 540,595 CARRIAGE SERVICES INC 594,345 976,771 CARSALES.COM.AU LTD 0 0 CASCAL N.V. 0 0 CASH AMERICA INTL INC 957,324 1,450,980 CASTLE (A.M.) + CO 0 0 CAT OIL AG 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value CATERPILLAR INC 1,992,737 2,629,036 CAVIUM NETWORKS INC 0 0 CBS CORP CLASS B NON VOTING 830,538 1,143,000 CCA INDUSTRIES INC 105,941 99,440 CDC SOFTWARE CORP ADR 0 0 CEGEDIM SA 662,609 434,421 CELADON GROUP INC 261,994 363,834 CENOVUS ENERGY INC 254,668 365,740 CENTERSTATE BANKS INC 213,447 243,144 CENTRAIS ELETRICAS BRASILIER 0 0 CENTRAL EURO DISTRIBUTION CP 0 0 CENTRAL GARDEN + PET CO 0 0 CENTRAL JAPAN RAILWAY CO 612,555 804,883 CENTRICA PLC 569,608 787,254 CENTURYLINK INC 1,665,042 2,432,189 CEPHALON INC 423,911 450,556 CERNER CORP 0 0 CFS RETAIL PROPERTY TRUST 727,024 748,973 CGI GROUP INC CLASS A 3,697,520 4,085,902 CHECK POINT SOFTWARE TECH 0 0 CHESAPEAKE UTILITIES CORP 227,817 307,248 CHEUNG KONG INFRASTRUCTURE 1,125,522 1,300,599 CHEVRON CORP 737,254 894,250 CHICAGO BRIDGE + IRON NY SHR 0 0 CHICO SFAS INC 0 0 CHINA FIRE + SECURITY GROUP 728,969 472,882 CHINA FUND INC 630,225 1,316,413 CHINA HIGH SPEED TRANSMISSIO 0 0 CHINA INFORMATION SECURITY 0 0 CHINA INFORMATION TECHNOLOGY 695,295 1,058,933 Name of Stock End of Year Book End of Year Fair Value Market Value CHINA PHARMA HOLDINGS INC 647,334 956,311 CHINACAST EDUCATION CORP 465,343 864,852 CHINDEX INTERNATIONAL INC 82,287 224,264 CHIPOTLE MEXICAN GRILL INC 883,803 893,172 CHOFU SEISAKUSHO CO LTD 729,075 846,705 CHUBB CORP 2,709,526 3,343,418 CHUBU ELECTRIC POWER CO INC 1,058,504 1,119,758 CHUNGHWA TELECOM CO LTD 255,098 322,765 CIA CERVECERIAS UNIDAS SA 261,127 450,448 CIA ENERGETICA MINAS GER PRF 188,730 256,641 CIA SANEAMENTO BASICO DE ADR 1,894,041 3,301,774 CIBER INC 552,750 940,680 CIE FINANCIERE RICHEMON BR A 224,774 477,953 CIGNA CORP 430,500 458,250 CINEMARK HOLDINGS INC 0 0 CINEPLEX GALAXY INCOME FUND 1,014,091 1,349,990 CINTAS CORP 603,829 636,649 CIRRUS LOGIC INC 824,595 821,372 CISCO SYSTEMS INC 158,581 141,307 CIT GROUP INC 1,581,968 1,630,367 CITIGROUP INC 941,070 1,201,420 CKD CORP 0 0 CLARIANT AG REG 317,301 542,536 CLEAN HARBORS INC 0 0

CLICKS GROUP LTD 0 0 CLOROX COMPANY 1,648,011 1,606,679 CLP HOLDINGS LTD 741,527 901,005 CME GROUP INC 0 0 CNH GLOBAL N.V. 838,598 1,260,336 CNO FINANCIAL GROUP INC 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value COCA COLA CO/THE 3,533,378 4,429,610 COCA COLA ENTERPRISES 0 0 COCA COLA ICECEK AS 471,408 706,511 COEUR D ALENE MINES CORP 819,459 1,420,913 COGNIZANT TECH SOLUTIONS A 0 0 COLGATE PALMOLIVE CO 902,144 956,403 COLLECTIVE BRANDS INC 0 0 COLOPLAST B 862,388 1,400,052 COLUMBUS MCKINNON CORP/NY 406,888 536,448 COMBA TELECOM SYSTEMS HOLDIN 83,009 82,777 COMFORTDELGRO CORP LTD 340,571 352,457 COMMERCE BANCSHARES INC 191,966 221,515 COMMERCIAL VEHICLE GROUP INC 313,885 781,625 COMMONWEALTH BANK OF AUSTRAL 0 0 COMMSCOPE INC 0 0 COMMUNITY HEALTH SYSTEMS INC 0 0 COMPAGNIE DE SAINT GOBAIN 0 0 COMPAL ELECTRONICS 0 0 COMPASS MINERALS INTERNATION 0 0 COMPLETE PRODUCTION SERVICES 1,781,530 1,959,165 COMPUGROUP HOLDING AG 0 0 COMSTOCK RESOURCES INC 885,868 699,960 COMSYS IT PARTNERS INC 0 0 CONAGRA FOODS INC 1,147,364 1,176,644 CONCEPTUS INC 0 0 CONNECTICUT WATER SVC INC 0 0 CONOCOPHILLIPS 0 0 CONSOLIDATED EDISON INC 586,200 594,840 CONSTANTIA 777,707 0

CONSTANTIA PACKAGING AG 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value CONSTRUCC Y AUX DE FERROCARR 0 0 CONTINENTAL AG 320,348 490,317 CONTINENTAL RESOURCES INC/OK 2,721,776 4,271,392 CONTINUCARE CORP 327,856 380,484 COOPER INDUSTRIES PLC 0 0 CORINTHIAN COLLEGES INC 694,401 213,610 CORVEL CORP 153,393 169,225 COVANCE INC 0 0 COVENANT TRANSPORT GRP CL A 1,901,812 1,892,931 COVIDIEN PLC 1,932,620 2,328,660 CP ALL PCL FOREIGN 0 0 CPI AEROSTRUCTURES INC 116,504 132,258 CPI CORP 423,117 401,390 CR BARD INC 824,191 954,408 CRAW FORD + COMPANY CL A 7,478 5,589 CREDIT AGRICOLE SA 267,318 153,409 CREDIT SUISSE GROUP AG REG 2,172,652 2,202,569 CREW ENERGY INC 1,978,040 2,219,533 CRH PLC 758,351 610,783 CROWN CASTLE INTL CORP 2,023,104 2,126,632 CS COMMUNICATION + SYSTEMES 197,457 50,287 CTS CORP 298,305 343,966 CTS EVENTIM 694,919 895,897 CUMMINS INC 823,471 1,177,107 CYBERAGENT INC 1,369,112 1,368,337 CYPRESS BIOSCIENCE INC 0 0 CYPRESS SEMICONDUCTOR CORP 0 0 DAI ICHI SEIKO CO LTD 0 0 DAIICHIKOSHO CO LTD 39,406 63,153 DAIMLER AG REGISTERED SHARES 1,108,679 1,531,280 Name of Stock End of Year Book End of Year Fair Value Market Value DAIWA SECURITIES GROUP INC 4,384,013 3,236,595 DAKTRONICS INC 181,151 243,576 DAMARTEX 219,731 219,146 DANA HOLDING CORP 536,543 3,841,272 DANONE 410,449 485,714 DASSAULT SYSTEMES SA 277,775 327,966 DE LONGHI SPA 723,154 1,175,359 DEALERTRACK HOLDINGS INC 0 0 DEAN FOODS CO 0 0 DECKERS OUTDOOR CORP 971,995 901,062 DEERE + CO 2,135,325 2,633,516 DELACHAUX 497,544 611,747 DELHAIZE GROUP 493,478 491,524 DELL INC 0 0 DEMAG CRANES AG 884,986 1,334,036 DENTSPLY INTERNATIONAL INC 323,347 348,534 DERICHEBOURG 462,607 506,427 DEUTSCHE TELEKOM AG REG 725,846 813,428 DEUTSCHE WOHNEN AG BR 506,265 810,440 DEVON ENERGY CORPORATION 1,150,567 1,176,315 DEVRY INC 1,250,217 1,312,253 DIAGEO PLC 1,383,730 1,818,190 DIALOG SEMICONDUCTOR PLC 2,189,960 2,557,815 DIAMOND FOODS INC 0 0 DIAMOND OFFSHORE DRILLING 0 0 DIAMONDROCK HOSPITALITY CO 333,732 964,308 DIASORIN SPA 2,953,594 3,280,822 DIEBOLD INC 611,454 729,138 DILLARDS INC CL A 821,781 1,138,200 DISCOVER FINANCIAL SERVICES 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value DISCOVERY COMMUNICATIONS A 426,924 450,360 DISCOVERY COMMUNICATIONS C 630,495 2,072,985 DISH NETWORK CORP A 0 0 DNB NOR ASA 439,629 538,250 DOCTOR REDDY S LAB ADR 282,441 323,991 DOGAN YAYIN HOLDING AS DOLAN CO/THE 0 0 DOLBY LABORATORIES INC CL A 0 0 DOLE FOOD CO INC 1,775,336 1,883,159 DOLLAR TREE INC 467,200 614,076 DOLLARAMA INC 1,101,904 1,403,471 DOMINO S PIZZA UK + IRL PLC 0 0 DOMTAR CORP 824,702 1,017,328 DONEGAL GROUP INC CL A 505,957 462,390 DORMAN PRODUCTS INC 81,058 112,344 DOUGLAS HOLDING AG 741,073 878,984 DR PEPPER SNAPPLE GROUP INC 1,998,979 1,908,661 DRAGONWAVE INC 0 0 DRESS BARN INC 0 0 DREW INDUSTRIES INC 520,709 497,568 DRIL QUIP INC 0 0 DTE ENERGY COMPANY 826,062 829,356 DUFF + PHELPS CORP CLASS A 79,824 94,416 DUFRY GROUP REG 1,061,375 2,809,952 DUKSAN HI METAL CO LTD 2,054,792 1,824,657 DUN + BRADSTREET CORP 840,724 985,080 DUOYUAN PRINTING INC 476,850 164,373 DYNAMIC MATERIALS CORP 268,935 354,349 DYNCORP INTERNATIONAL INC A 0 0 E INK HOLDINGS INC 1,363,742 1,329,707 Name of Stock End of Year Book End of Year Fair Value Market Value EADS NV 0 0 EARTHLINK INC 0 0 EAST WEST BANCORP INC 49,056 107,036 EASTERN PLATINUM LTD 881,293 1,361,517 EBAY INC 1,540,509 1,815,629 ECHO GLOBAL LOGISTICS INC 0 0 ECLIPSYS CORP 0 0 EDF ENERGIES NOUVELLES SA 531,727 490,357 EDP ENERGIAS DO BRASIL SA 269,644 305,483 EF JOHNSON TECHNOLOGIES INC 0 0 ELECTRONICS FOR IMAGING 101,583 180,306 ELEKTA AB B SHS 0 0 ELETROPAULO METROPOLI PREF 566,828 632,769 ELETROPAULO METROPOLI PREF B 0 0 ELPIDA MEMORY INC 0 0 EMC CORP/MASS 0 0 EMCOR GROUP INC 0 0 EMERSON ELECTRIC CO 1,169,285 1,378,940 EMPRESAS COPEC SA 274,931 352,235 ENCANA CORP 103,374 139,485 ENCANA CORP 337,957 307,397 ENEL SPA 320,086 301,465 ENERGIAS DE PORTUGAL SA 0 0 ENERGY PARTNERS LTD 1,461,606 2,511,340 ENERGY XXI BERMUDA LIMTITED 0 0 ENERGYSOLUTIONS INC DEP SHS 0 0 ENERNOC INC 0 0 ENERSYS 0 0 ENISPA 0 0 ENPRO INDUSTRIES INC 116,002 236,892 Name of Stock End of Year Book End of Year Fair Value Market Value ENTEGRIS INC 0 0 EOG RESOURCES INC 0 0 EPISTAR CORP 0 0 EQT CORP 1,190,413 1,374,346 EQUIFAX INC 1,389,960 1,666,080 EQUINIX INC 0 0 ERICSSON LM B SHS 0 0 ESSILOR INTERNATIONAL 118,507 204,875 ESTEE LAUDER COMPANIES CL A 610,936 1,105,590 ETAM DEVELOPPEMENT SA 0 0 EURAZEO 0 0 EVEN CONSTRUTORA E INCORPORA 1,300,126 1,422,627 EVEREST RE GROUP LTD 385,123 356,244 EXACOMPTA CLAIREFONTAINE 251,691 140,621 EXCEED CO LTD 917,051 964,062 EXCO RESOURCES INC 0 0 EXEL INDUSTRIES SA A SHS 485,555 398,182 EXPONENT INC 163,307 379,053 EXPRESS SCRIPTS INC 0 0 EXXON MOBIL CORP 5,119,151 5,975,732 F5 NETWORKS INC 1,346,816 1,718,112 FAIRFAX FINANCIAL HLDGS LTD 169,552 288,123 FAIVELEY TRANSPORT 0 0 FAMILY DOLLAR STORES 934,894 1,376,967 FAMOUS DAVE S OF AMERICA 102,177 117,075 FANUC CORP 791,798 1,460,637 FAURECIA 524,663 583,257 FERREXPO PLC 2,048,093 2,830,880 FFP 839,672 450,368 FGX INTERNATIONAL HOLDINGS 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value FIBRIA CELULOSE SA SPON ADR 0 0 FIDELITY NATIONAL INFORMATIO 0 0 FINISAR CORPORATION 985,036 1,128,220 FIRST TRUST SPECIALTY FINANCE 324,590 663,856 FLANDERS CORPORATION 0 0 FLETCHER BUILDING LTD 842,842 874,949 FLEURY SA 0 0 FLSMIDTH + CO A/S 0 0 FLUGHAFEN WIEN AG 791,361 1,003,424 FLUOR CORP 1,159,013 1,385,165 FOLLI FOLLIE GROUP 371,594 396,452 FOLLI FOLLIE SA 371,594 453,949 FORD MOTOR CO 0 0 FOREST LABORATORIES INC 656,534 693,966 FOREST OIL CORP 0 0 FORTINET INC 0 0 FOSSIL INC 880,397 1,162,920 FOSTER (LB) CO A 432,430 590,519 FOSTERS GROUP LTD 480,055 556,966 FOURLIS SA 1,006,982 765,525 FRANCE TELECOM SA 854,994 792,380 FRANCO NEVADA CORP 199,403 401,336 FRAPORT AG 244,181 355,374 FRASER AND NEAVE LTD 594,834 910,675 FREEPORT MCMORAN COPPER 553,658 852,639 FRESNILLO PLC 84,132 587,197 FROMAGERIES BEL 0 0 FTI CONSULTING INC 0 0 FUEL SYSTEMS SOLUTIONS INC 0 0 FUNAI ELECTRIC CO LTD 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value FURSYS INC 129,746 564,896 FUSHI COPPERWELD INC 1,641,931 1,498,633 GAM HOLDING LTD 0 0 GARMIN LTD 650,816 457,103 GATEGROUP HOLDING AG 1,346,975 1,440,058 GENERAL CABLE CORP 0 0 GENERAL ELECTRIC CO 1,042,182 1,174,218 GENERAL MILLS INC 1,532,156 1,543,538 GENOMMA LAB INTERNACIONAL B 1,395,689 2,142,489 GENTING BHD 106,372 231,722 GENTING MALAYSIA BHD 824,356 1,065,550 GENUINE PARTS CO 0 0 GENZYME CORP 1,025,190 1,367,040 GEO GROUP INC/THE 0 0 GEORESOURCES INC 0 0 GEWISS SPA 102,811 167,923 GFK SE 887,108 1,361,942 GIVAUDAN REG 0 0 GLATFELTER 1,028,392 1,136,312 GLG LIFE TECH CORP 0 0 GLOBAL DEFENSE TECHNOLOGY + 376,877 488,940 GOLD FIELDS LTD SPONS ADR 707,150 1,056,073 GOLDCORP INC 1,628,133 2,275,550 GOLDMAN SACHS GROUP INC 0 0 GOODPACK LTD 1,300,922 1,382,616 GOODRICH CORP 0 0 GRAHAM PACKAGING CO INC 949,231 1,138,001 GRAND CANYON EDUCATION INC 0 0 GRANITE CONSTRUCTION INC 0 0 GREAT ATLANTIC + PAC TEA CO 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value GREAT LAKES DREDGE + DOCK CO 79,378 101,706 GREAT PLAINS ENERGY INC 1,947,370 2,201,347 GREEN MOUNTAIN COFFEE ROASTE 0 0 GREENHILL + CO INC 0 0 GREIF INC CL A 0 0 GROUPE AGTA RECORD 0 0 GROUPE BRUXELLES LAMBERT SA 99,029 103,166 GROUPE GUILLIN 252,527 228,731 GROUPE STERIA SCA 651,568 517,971 GRUPO TELEVISA SA SER CPO 277,277 334,214 GRUPO TELEVISA SA SPON ADR 525,891 906,720 GUANGDONG INVESTMENT LTD 346,035 384,890 GUERBET 381,287 212,742 GULFPORT ENERGY CORP 0 0 GUOCO GROUP LTD 502,491 570,586 GUYENNE ET GASCOGNE SA 317,555 399,415 H LUNDBECK A/S 965,811 940,763 H+R BLOCK INC 279,937 234,627 HAITIAN INTERNATIONAL HLDGS 1,304,578 1,272,787 HALLIBURTON CO 885,185 1,069,746 HAMBRECHT ASIA ACQUISITION 2,812,500 1,893,750 HAMBRECHT ASIA ACQUISITION U 0 0 HAMBURGER HAFEN UND LOGISTIK 122,205 172,100 HANNOVER RUECKVERSICHERUNGS 911,021 1,058,556 HARBINGER GROUP INC 448,445 465,983 HARMONY GOLD MINING CO LTD 383,342 445,728 HARMONY GOLD MNG SPON ADR 330,605 401,280 HARRIS CORP 263,140 267,270 HARTFORD FINANCIAL SVCS GRP 0 0 HARVEY NORMAN HOLDINGS LTD 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value HASBRO INC 178,208 210,423 HATTERAS FINL CORP 0 0 HAULOTTE GROUP 528,755 520,660 HAVERTY FURNITURE 1,723,489 1,867,095 HAW PAR CORP LTD 350,303 794,811 HAWKINS INC 109,129 284,160 HCC INSURANCE HOLDINGS INC 532,658 579,958 HEALTH MGMT ASSOCIATES INC A 907,189 1,023,642 HEALTH NET INC 0 0 HEALTHSOUTH CORP 0 0 HEALTHSPRING INC 0 0 HEARTLAND EXPRESS INC 0 0 HEARTLAND PAYMENT SYSTEMS IN 0 0 HECKMANN CORP 0 0 HEELYS INC 304,753 222,251 HEIDELBERGCEMENT AG 1,129,794 1,329,599 HEINEKEN HOLDING NV 35,807 50,528 HEINEKEN NV 0 0 HELMERICH + PAYNE 513,426 681,144 HENGDELI HOLDINGS LTD 0 0 HENNES + MAURITZ AB B SHS 0 0 HERBALIFE LTD 0 0 HERLEY INDUSTRIES INC 0 0 HERSHEY CO/THE 759,512 1,027,870 HESS CORP 1,767,896 2,357,662 HEWITT ASSOCIATES INC CL A 0 0 HEWLETT PACKARD CO 682,363 559,930 HIBBETT SPORTS INC 0 0 HIGH CO 218,660 223,820 HILL INTERNATIONAL INC 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value HIROSE ELECTRIC CO LTD 2,807,417 2,960,311 HJ HEINZ CO 332,584 421,399 HOKURIKU ELECTRIC POWER CO 625,916 725,633 HOLCIM LTD REG 648,244 750,386 HOME BANCSHARES INC 0 0 HOME DEPOT INC 0 0 HONEYWELL INTERNATIONAL INC 0 0 HONGKONG ELECTRIC HOLDINGS 0 0 HOPFED BANCORP INC 540,000 549,576 HORMEL FOODS CORP 0 0 HORNBACH HOLDING AG PRFD 406,239 618,700 HORSEHEAD HOLDING CORP 591,994 1,461,041 HUB GROUP INC CL A 0 0 HUBBELL INC CL B 197,615 276,598 HUDSON CITY BANCORP INC 877,342 852,561 HUGO BOSS PFD 1,260,862 1,905,552 HUMANA INC 581,422 859,418 HUNTSMAN CORP 837,436 1,276,898 HUTCHISON WHAMPOA LTD 173,842 277,862 HYMER AG 773,927 389,150 HYUNDAI MOTOR CO 298,653 278,236 IAMGOLD CORP 0 0 IAMGOLD CORP 0 0 ICF INTERNATIONAL INC 0 0 ICON PLC SPONSORED ADR 0 0 ICU MEDICAL INC 450,131 481,800 IDACORP INC 0 0 IESI BFC LTD 0 0 IGUATEMI EMP DE SHOPPING 628,280 715,375 II VI INC 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value ILLINOIS TOOL WORKS 319,450 364,722 ILLUMINA INC 423,144 456,048

IMAGINATION TECH GROUP PLC 0 0 IMATION CORP 1,307,644 1,532,973 IMAX CORP 644,352 3,473,011 IMERYS SA 387,502 425,632 IMPERIAL OIL LTD 1,345,957 1,417,795 IMPERIAL TOBACCO GROUP PLC 418,143 414,298 INCITEC PIVOT LTD 979,868 1,231,561 INCYTE CORP 0 0 INDIA FUND INC/THE 315,592 554,106 INDO TAMBANGRAYA MEGAH PT 0 0 INDUSTRIAS PENOLES SAB DE CV 133,636 877,726 INFOSYS LTD SP ADR 362,638 565,046 INGENICO 1,887,059 2,187,538 INGERSOLL RAND PLC 0 0 INGRAM MICRO INC CL A 923,110 967,863 INNOSPEC INC 1,215,607 2,311,014

INOTERA MEMORIES INC 0 0 INPEX CORP 529,964 609,728 INTEGRATED DEVICE TECH INC 0 0 INTEGRATED SILICON SOLUTION 1,747,409 1,849,309 INTEGRYS ENERGY GROUP INC 281,607 286,209 INTEL CORP 4,660,975 4,811,349 INTER PARFUMS 307,587 517,349 INTERACTIVE BROKERS GRO CL A 0 0 INTERCONEXION ELECTRICA SA 314,955 310,053 INTERLINE BRANDS INC 0 0 INTL ABSORBENTS INC 0 0 INTL BUSINESS MACHINES CORP 3,882,750 4,911,323 Name of Stock End of Year Book End of Year Fair Value Market Value INTL FLAVORS + FRAGRANCES 1,006,014 1,450,899 INTL GAME TECHNOLOGY 317,874 364,414 INTL SPEEDWAY CORP CL A 268,470 263,009 INTREPID POTASH INC 0 0 INTUIT INC 280,384 315,520 IN VENTURE FOODS INC 432,948 599,761 INVERNESS MEDICAL INNOVATION 0 0 INX INC 0 0 IRIDIUM COMMUNICATIONS INC 949,748 761,929 ISHARES SILVER TRUST 1,422,205 3,075,282 ITALCEMENTI SPA RSP 415,157 350,985 ITALMOBILIARE SPA 219,842 58,052 ITALMOBILIARE SPA RSP 267,692 308,263 ITOCHU CORPORATION 0 0 ITRON INC 0 0 ITT CORP 316,411 350,700 ITT EDUCATIONAL SERVICES INC 413,730 286,605 J CREW GROUP INC 0 0 JAGUAR MINING INC 0 0 JAPAN PETROLEUM EXPLORATION 439,897 415,276 JAPAN WOOL TEXTILE CO LTD 274,633 283,965 JARDINE MATHESON HLDGS LTD 401,389 594,440 JDA SOFTWARE GROUP INC 0 0 JIANGSU EXPRESS CO LTD H 226,157 270,195 JINPAN INTERNATIONAL LTD 241,546 207,125 JM SMUCKER CO/THE 0 0 JOHN B. SANFILIPPO + SON INC 10,697 18,660 JOHNSON + JOHNSON 1,340,044 1,409,252 JPMORGAN CHASE + CO 476,694 602,364 JUBILANT FOODWORKS LTD 960,727 1,375,509 Name of Stock End of Year Book End of Year Fair Value Market Value JULIUS BAER GROUP LTD 1,928,726 3,333,988 JUMBO SA 381,317 301,912

KADANT INC 138,485 160,276 KANSAI ELECTRIC POWER CO INC 0 0 KANSAI PAINT CO LTD 88,640 95,458 KAYDON CORP 784,758 938,189 KEIHIN CORP 1,338,606 1,313,187 KELLOGG CO 785,778 802,978 KENDLE INTERNATIONAL INC 438,816 301,653 KENNAMETAL INC 0 0 KERRY GROUP PLC A 983,745 1,197,639 KESA ELECTRICALS PLC 1,260,801 987,656 KEYCORP 1,068,881 1,226,610 KEYENCE CORP 619,215 904,783 KFORCE INC 374,827 504,816 KIMBALL INTERNATIONAL B 1,684,987 1,407,690 KIMBERLY CLARK CORP 1,521,855 1,608,150 KINEPOLIS 0 0 KING PHARMACEUTICALS INC 0 0 KLA TENCOR CORPORATION 0 0 KMG CHEMICALS INC 404,385 493,786 KNOLOGY INC 0 0 KODIAK OIL + GAS CORP 0 0 KONINKLIJKE AHOLD NV 942,761 1,040,615 KONINKLIJKE KPN NV 449,752 485,272 KONINKLIJKE PHILIPS ELECTRON 669,941 651,988 KONINKLIJKE WESSANEN NV 0 0 KOPIN CORP 0 0 KORN/FERRY INTERNATIONAL 0 0 KRAFT FOODS INC CLASS A 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value KRATON PERFORMANCE POLYMERS 0 0 KRONES AG 1,118,797 1,095,953 KT CORP 284,746 276,709 KT CORP SP ADR 431,399 463,486 KT+G CORP 517,038 526,995 KUEHNE + NAGEL INTL AG REG 112,526 362,204 KUKA AG 1,337,863 1,387,939 KUNLUN ENERGY COMPANY LTD 0 0 KWG PROPERTY HOLDING LTD 0 0 KYUSHU ELECTRIC POWER CO INC 633,447 657,493 L 3 COMMUNICATIONS HOLDINGS 1,034,543 789,488 LABORATORY CRP OF AMER HLDGS 1,397,954 3,279,416 LAFARGE SA 493,643 569,657

LAM RESEARCH CORP 0 0 LAN AIRLINES SA SPON ADR 858,911 892,620 LANDAUER INC 228,273 228,186 LAS VEGAS SANDS CORP 2,585,057 3,822,581 LASERCARD CORP 317,467 415,715 LATTICE SEMICONDUCTOR CORP 306,324 381,780 LAURENT PERRIER GROUP 206,097 301,151 LECTRA 322,359 259,863 LEGRAND SA 283,417 355,484 LEHMAN BROTHERS INC 0 0 LEHMAN BROTHERS INC 0 0 LEXMARK INTERNATIONAL INC A 1,798,387 1,730,554 LG CORP 426,778 509,231 LIBERTY GLOBAL INCA 924,104 912,804 LIFE TECHNOLOGIES CORP 0 0 LIFEPOINT HOSPITALS INC 832,855 966,525 LIHIR GOLD LTD 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value LINCOLN EDUCATIONAL SERVICES 687,340 635,910 LINDT + SPRUENGLI AG PC 173,853 242,549 LINK REIT 861,464 1,202,273 LIVE NATION ENTERTAINMENT IN 2,480,908 1,604,510 LKQ CORP 0 0 LLOYDS BANKING GROUP PLC ADR 563,871 700,344 LOCINDUS 453,209 403,635 LOCKHEED MARTIN CORP 1,051,399 987,828 LODGIAN INC 0 0

LOJAS RENNER S.A. 0 0 LONGTOP FINANCIAL SPON ADR 0 0 LORILLARD INC 926,024 1,116,016 LOTTE CONFECTIONERY CO LTD 195,250 297,640 LOUISIANA PACIFIC CORP 0 0 LOWE S COS INC 1,506,962 1,796,731 LSB INDUSTRIES INC 467,160 640,464 LUBRIZOL CORP 0 0 M + T BANK CORP 972,339 966,255 M/I HOMES INC 1,704,891 2,606,187 M3 INC 1,862,289 2,032,328 MACARTHUR COAL LTD 0 0 MACINTOSH RETAIL GROUP NV 1,070,022 1,133,641 MACRONIX INTERNATIONAL 369,144 367,328 MAGNA INTERNATIONAL INC 1,244,491 1,518,400 MAGNESITA REFRATARIOS SA 0 0 MAIDENFORM BRANDS INC 0 0 MAJESTIC CAPITAL LTD 0 0 MAJESTIC CAPITAL LTD 127,773 15,662 MAKINO MILLING MACHINE CO 2,499,153 2,788,016 MANITEX INTERNATIONAL INC 440,755 831,966 Name of Stock End of Year Book End of Year Fair Value Market Value MANUTAN INTERNATIONAL 991,768 835,035 MARCUS CORPORATION 210,854 269,766 MARINE HARVEST 1,454,248 1,443,887 MARKET VECTORS GOLD MINERS E 0 0 MARKS + SPENCER GROUP PLC 229,078 275,673 MARLIN BUSINESS SERVICES INC 573,421 485,760 MARSH + MCLENNAN COS 258,899 337,376 MARTEN TRANSPORT LTD 308,794 395,530 MARUBENI CORP 530,898 682,905 MARVELL TECHNOLOGY GROUP LTD 561,216 549,080 MASIMO CORPORATION 0 0 MASTEC INC 0 0 MASTERCARD INC CLASS A 1,495,415 1,546,359 MATRIX SERVICE CO 0 0 MAXLINEAR INC CLASS A 39,672 40,888 MAYR MELNHOF KARTON AG 690,757 817,568 MCDERMOTT INTL INC 0 0 MCDONALD S CORP 2,417,685 3,236,969 MCG CAPITAL CORP 184,169 838,212 MCGRATH RENTCORP 471,435 427,386 MCGRAW HILL COMPANIES INC 0 0 MCMORAN EXPLORATION CO 929,110 1,458,957 MDC PARTNERS INC CL A 0 0 MDS INC 0 0 MEAD JOHNSON NUTRITION CO 0 0 MEADWESTVACO CORP 805,895 852,816 MEDASSETS INC 0 0 MEDCO HEALTH SOLUTIONS INC 536,796 716,859 MEDICAL ACTION IND INC 502,611 352,065 MEDICINES COMPANY 848,965 840,735 Name of Stock End of Year Book End of Year Fair Value Market Value MEDICIS PHARMACEUTICAL CL A 0 0 MEDIDATA SOLUTIONS INC 0 0 MEDIFAST INC 292,801 285,912 MEDIQ NV 812,799 1,002,943

MEDNAX INC 0 0 MEDTRONIC INC 1,894,289 1,934,429 MEGASTUDY CO LTD 0 0 MEITEC CORP 1,393,117 1,021,576 MELLANOX TECHNOLOGIES LTD 0 0 MELROSE PLC 2,427,583 2,760,432 MERCK + CO. INC. 1,683,513 1,720,730 MERCURY COMPUTER SYSTEMS INC 312,560 628,596 MERIDIAN RESOURCE CORP 0 0 MERIT MEDICAL SYSTEMS INC 418,907 441,657 MESA AIR GROUP INC 0 0 METALICO INC 138,535 202,207 METHODE ELECTRONICS INC 369,771 534,364 METLIFE INC 296,360 348,854 METRO BANCORP INC 0 0 METRO INC A 729,355 1,032,597 MFA FINANCIAL INC 1,566,989 1,786,395 MGM RESORTS INTERNATIONAL 3,215,367 2,588,281 MICHAEL BAKER CORP 438,278 426,070 MICHAEL PAGE INTERNATIONAL 1,873,212 2,753,181 MICHELIN (CGDE) B 362,353 408,762 MICREL INC 0 0 MICRON TECHNOLOGY INC 1,466,904 1,352,974 MICROSOFT CORP 0 0 MIDAS HOLDINGS LTD 0 0 MIDSOUTH BANCORP INC 442,738 485,376 Name of Stock End of Year Book End of Year Fair Value Market Value MILLICOM INTL CELLULAR S.A. 586,107 1,247,580 MINTH GROUP LTD 0 0 MIRACA HOLDINGS INC 1,880,607 2,193,305 MISUMI GROUP INC 486,630 680,943 MITSUBISHI ESTATE CO LTD 505,037 639,314 MKS INSTRUMENTS INC 0 0 MOBILE MINI INC 480,443 598,576 MOBISTAR SA 0 0 MODINE MANUFACTURING CO 209,596 401,450 MOLEX INC 670,048 799,971 MONRO MUFFLER BRAKE INC 60,218 173,815 MONSANTO CO 0 0 MORGAN STANLEY 193,289 178,226 MOSAIC CO/THE 2,239,619 2,725,670 MOTHERCARE PLC 419,077 543,215 MOTORCAR PARTS OF AMERICA IN 716,940 1,733,994 MOTOROLA INC 0 0 MS+AD INSURANCE GROUP HOLDIN 1,244,780 1,001,128 MTU AERO ENGINES HOLDING AG 652,089 1,147,440 MUELLER WATER PRODUCTS INC A 0 0 MUENCHENER RUECKVER AG REG 881,962 1,018,363 MULTI COLOR CORP 535,461 661,776 MUNTERS AB 0 0 MURPHY OIL CORP 0 0 MYLAN INC 403,113 492,329 MYR GROUP INC/DELAWARE 250,548 449,400 NABTESCO CORP 1,069,787 1,708,403 NAGAILEBEN CO LTD 338,448 450,941 NALCO HOLDING CO 1,417,049 1,510,443

NASDAQ OMX GROUP/THE 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value NATIONAL BANK OF CANADA 860,564 1,330,887 NATIONAL CINEMEDIA INC 0 0 NATL WESTERN LIFE INS CL A 1,206,748 1,050,503 NATURA COSMETICOS SA 406,395 942,308 NATURES SUNSHINE PRODS INC 897,594 1,235,594 NATUZZI SPA SP ADR 1,831,762 1,584,529 NAVIGANT CONSULTING INC 0 0 NBTY INC 0 0 NCI INC CLASS A 0 0 NEMETSCHEK AG 484,831 904,273 NEOPOSTSA 1,448,882 1,507,005 NEOWIZ GAMES CORP 0 0 NESTLE SA REG 424,069 862,279 NETFLIX INC 1,171,459 1,651,580 NETSOL TECHNOLOGIES INC 276,205 304,356 NEW GOLD ISSUER 1,116,314 1,291,678 NEW WORLD DEPT STORE CHINA 0 0 NEW YORK COMMUNITY BANCORP 578,676 625,820 NEWALLIANCE BANCSHARES INC 0 0 NEWCREST MINING LTD 211,969 461,289 NEW MARKET CORP 0 0 NEW MONT MINING CORP 3,220,431 4,686,802 NEW PARK RESOURCES INC 849,626 622,160 NEWPORT CORP 0 0 NEWS CORP CL A 542,528 570,752 NEXANS SA 766,163 802,271 NEXT PLC 635,774 836,151 NEXTRADIOTV 497,778 317,201 NEXTRADIOTV PROMESSES 0 0 NIFCO INC 1,326,019 1,362,311 Name of Stock End of Year Book End of Year Fair Value Market Value NIGHTHAWK RADIOLOGY HOLDINGS 0 0 NII HOLDINGS INC 0 0 NIPPON TELEGRAPH + TELEPHONE 315,884 357,962 NIPPON THOMPSON CO LTD 3,191 6,128 NIPPONKOA INSURANCE COMPANY 0 0 NISOURCE INC 0 0 NISSAY DOWA GENERAL INSURANC 0 0 NISSIN FOODS HOLDINGS CO LTD 163,990 166,122 NITTO KOHKI CO LTD 598,710 702,163 NKSJ HOLDINGS INC 606,713 727,731 NOBIA AB 871,632 1,294,109 NOBLE ENERGY INC 1,808,913 2,037,083 NOBLE GROUP LTD 0 0 NOKIAN RENKAATOYJ 0 0 NOMURA RESEARCH INSTITUTE LT 460,199 534,118 NONGSHIM CO LTD 631,980 416,001 NORBERT DENTRESSANGLE 446,846 683,986 NORFOLK SOUTHERN CORP 0 0 NORTHERN OIL AND GAS INC 0 0 NORTHERN TRUST CORP 1,475,580 1,685,572 NORTHRIM BANCORP INC 92,127 98,532 NORTHROP GRUMMAN CORP 1,099,254 1,232,763 NORTHWEST BANCSHARES INC 409,023 398,546 NOVAGOLD RESOURCES INC 1,904,134 3,884,793 NOVARTIS AG REG 930,679 1,183,774 NOVELLUS SYSTEMS INC 1,231,484 1,460,056 NOVO NORDISK A/S B 693,565 1,472,047 NOVOLIPET STEEL GDR REG S 504,199 697,660 NTT DOCOMO INC 246,967 281,485 NU HORIZONS ELEC CORP 1,734,899 2,298,845 Name of Stock End of Year Book End of Year Fair Value Market Value NUANCE COMMUNICATIONS INC 0 0 NUTRECO NV 695,492 924,144 NVIDIA CORP 0 0 O NET COMMUNICATIONS GROUP 1,317,743 1,217,914 OBAGI MEDICAL PRODUCTS INC 0 0 OCWEN FINANCIAL CORP 0 0 ODONTOPREV S.A. 1,017,541 1,496,331 ODYSSEY HEALTHCARE INC 0 0 OILSANDS QUEST INC 0 0 OLD REPUBLIC INTL CORP 1,999,047 1,424,335 OMRON CORP 858,042 973,327 OMV AG 18,024 18,566 ONEOK INC 0 0 ONO PHARMACEUTICAL CO LTD 421,131 579,446 OPAP SA 0 0 OPENTABLE INC 609,629 642,637 ORACLE CORP 1,625,984 3,458,650 ORIENTAL LAND CO LTD 803,097 973,553 ORIOLA KD OYJ B SHARES 0 0 ORION MARINE GROUP INC 185,823 185,600 ORION OYJ CLASS B 321,468 366,774 ORTHOFIX INTERNATIONAL NV 0 0 OSAKA GAS CO LTD 416,441 450,527 OSG CORP 213,836 368,451 OVERHILL FARMS INC 850,710 989,536 OVERSEA CHINESE BANKING CORP 432,819 601,569 OWENS ILLINOIS INC 1,102,375 1,502,765 P.A.M. TRANSPORTATION SVCS 1,469,187 898,722 PACIFIC RUBIALES ENERGY CORP 0 0 PACIFIC SUNW EAR OF CALIF 328,558 390,782 Name of Stock End of Year Book End of Year Fair Value Market Value PAN AMERICAN SILVER CORP 0 0 PAN AMERICAN SILVER CORP 0 0 PANALPINA WELTTRANSPORT REG 908,950 1,337,122 PARGESA HOLDING SA BR 1,311,570 1,343,096 PARTNERRE LTD 966,096 1,108,830 PATTERSON COS INC 1,107,200 1,372,837 PEETS COFFEE + TEA INC 0 0 PENN WEST ENERGY TRUST 125,649 158,948 PEOPLE S UNITED FINANCIAL 888,679 923,399 PEP BOYS MANNY MOE + JACK 975,315 2,014,500 PERICOM SEMICONDUCTOR CORP 397,339 455,791 PERMA FIX ENVIRONMENTAL SVCS 0 0 PETMED EXPRESS INC 0 0 PETROBANK ENERGY + RESOURCES 0 0 PETROFAC LTD 352,818 367,212 PETROLEO BRASILEIRO S.A. ADR 0 0 PETROLEO BRASILEIRO SPON ADR 504,867 668,229 PETROMINERALES LTD 1,359,238 1,579,426 PETSMART INC 259,272 310,596 PEUGEOT SA 0 0 PFEIFFER VACUUM TECHNOLOGY 2,576,829 2,656,271 PFIZER INC 1,418,603 1,313,250 PHASE FORWARD INC 0 0 PHILIP MORRIS INTERNATIONAL 0 0 PHILIPPINE LONG DISTANCE TEL 492,138 596,380 PHOTRONICS INC 1,293,391 1,839,783 PIAGGIO + C. S.P.A. 1,597,481 1,523,400 PIER 1 IMPORTS INC 1,173,138 2,233,350 PIERRE + VACANCES 1,314,567 1,296,045 PINGUELY HAULOTTE 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value PINNACLE WEST CAPITAL 736,292 824,855 PIONEER DRILLING COMPANY 0 0 PLANTRONICS INC 0 0 PLATINUM UNDERWRITERS HLDGS 0 0 PLUS EXPRESSWAYS BHD 224,122 312,523 PMA CAPITAL CORPORATION CL A 0 0 POLARIS INDUSTRIES INC 806,603 1,053,270 POLSKIE GORNICTWO NAFTOWE I 0 0 PORTEC RAIL PRODUCTS INC 0 0 PORTLAND GENERAL ELECTRIC CO 785,252 888,615 PORTS DESIGN LTD 1,369,788 1,249,973 PORTUGAL TELECOM SGPS SA REG 0 0 POTASH CORP OF SASKATCHEWAN 0 0 POWER ASSETS HOLDINGS LTD 879,596 992,777 POWER INTEGRATIONS INC 0 0 PRECISION CASTPARTS CORP 0 0 PRGX GLOBAL INC 301,020 324,413 PRICELINE.COM INC 898,327 1,038,830 PRIMARY HEALTH CARE LTD 2,262,690 2,231,714 PROCTER + GAMBLE CO/THE 1,662,301 1,853,347 PROGRESS ENERGY INC 263,578 291,316 PROSEGUR COMP SEGURIDAD REGD 391,911 361,725 PROVIDENCE SERVICE CORP 0 0 PROVIDENT ENERGY TRUST UTS 144,327 169,560 PRUDENTIAL FINANCIAL INC 0 0 PSS WORLD MEDICAL INC 0 0

PT UNILEVER INDONESIA TBK 0 0 QLOGIC CORP 0 0 QUAKER CHEMICAL CORP 201,209 437,535 QUANEX BUILDING PRODUCTS 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value QUEST DIAGNOSTICS INC 826,960 787,962 QWEST COMMUNICATIONS INTL 660,940 932,986 RADIALL 0 0 RADIAN GROUP INC 158,125 251,784 RADIANT SYSTEMS INC 236,604 565,612 RADIOSHACK CORP 0 0 RALLYE SA 732,177 703,798 RAMIRENT OYJ 2,051,013 2,129,665 RAYONIER INC 0 0 RAYTHEON COMPANY 842,431 861,924 RBC BEARINGS INC 275,794 465,052 RC2 CORP 71,298 185,045 RECKITT BENCKISER GROUP PLC 890,918 975,303 RED BACK MINING INC 0 0 RED BACK MINING INC 0 0 RED ELECTRICA CORPORACION SA 384,525 373,153 REGIONS FINANCIAL CORP 1,433,781 1,520,400 REHABCARE GROUP INC 0 0 REMY COINTREAU 343,771 608,132 RENAISSANCERE HOLDINGS LTD 324,741 363,033 RENESOLA LTD ADR 0 0 RENT A CENTER INC 1,901,566 3,078,382 REPUBLIC AIRWAYS HOLDINGS IN 2,032,886 2,487,804 REPUBLIC SERVICES INC 776,576 785,019 RESONA HOLDINGS INC 750,058 378,888 RESTAURANT GROUP PLC 1,429,585 1,772,548 REXAM PLC 593,554 625,758 REXEL SA 452,549 691,061 RHEINMETALL AG 937,485 1,557,917 RHJ INTERNATIONAL 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value RHODIA SA 2,265,189 2,997,734 RICHTEK TECHNOLOGY CORP 0 0 RICHTER GEDEON NYRT 203,452 268,855 RIETER HOLDING AG REG 351,938 754,303 RIGHTMOVE PLC 1,249,811 1,394,100 RIMAGE CORP 576,687 405,552 RIVERBED TECHNOLOGY INC 8,127 13,787 RMB HOLDINGS LTD 276,271 362,802 ROBE RTET SA 270,576 543,618 ROCHE HOLDING AG GENUSSCHEIN 1,214,176 1,186,275 ROCKWELL COLLINS INC 486,969 573,861 ROCKWOOL INTL A/S B SHS 567,922 937,744 ROGERS COMMUNICATIONS INC B 812,600 838,046 ROGERS COMMUNICATIONS INC B 835,974 804,368 ROHM CO LTD 2,511,683 2,143,394 ROSS STORES INC 290,576 328,900 ROULARTA MEDIA GROUP NV 0 0 ROYAL BANK OF CANADA 0 0 ROYAL DUTCH SHELL PLC A SHS 844,615 1,044,387 RPC INC 1,823,704 1,859,112 RUBIO S RESTAURANTS INC 0 0 RUSH ENTERPRISES INC CL B 343,078 591,614 RWEAG 0 0 RYDER SYSTEM INC 0 0

SA SA INTERNATIONAL HLDGS 507,534 676,310 SAFEWAY INC 906,273 845,624 SAFILO GROUP SPA 2,898,354 3,255,674 SAFRAN SA 357,847 651,296 SAIC INC 1,312,667 1,139,700 SALIX PHARMACEUTICALS LTD 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value SAMPO OY3 A SHS 829,167 911,523 SAMSUNG ELECTR GDR 144A 269,389 513,874 SAMSUNG ELECTRO MECHANICS CO 0 0 SAMSUNG ELECTRONICS PFD 261,031 786,303 SAMSUNG ELECTRS LTD 0 0 SANDISK CORP 1,918,934 2,178,882 SANDY SPRING BANCORP INC 365,758 481,023 SANMINA SCI CORP 1,118,685 2,456,720 SANOFI 1,578,463 1,220,377 SANSEI YUSOKI CO LTD 59,438 46,920 SANTEN PHARMACEUTICAL CO LTD 364,498 378,990 SANY HEAVY EQUIPMENT INTL 0 0 SAP AG COMMON 1,762,685 2,151,656 SARA LEE CORP 1,747,801 2,190,501 SARTORIUS AG VORZUG 923,117 1,425,150 SATS LTD 98,478 213,215 SAUER DANFOSS INC 961,500 875,750 SBA COMMUNICATIONS CORP CL A 0 0 SCBT FINANCIAL CORP 285,256 265,275 SCHIBSTED ASA 625,407 1,059,372 SCHNEIDER ELECTRIC SA 0 0 SCHOELLER BLECKMANN OILFIELD 288,857 534,756 SCHWAB (CHARLES) CORP 551,861 687,651 SCHWEITZER MAUDUIT INTL INC 0 0 SCOR SE 992,095 1,059,852 SEABRIGHT HOLDINGS INC 0 0 SEACUBE CONTAINER LEASING LT 389,787 493,506 SEAGATE TECHNOLOGY 0 0 SEARCHMEDIA HOLDINGS LTD 0 0 SEB SA 272,792 529,736 Name of Stock End of Year Book End of Year Fair Value Market Value SECHILIENNE SIDEC 1,048,671 993,267 SECOM CO LTD 1,257,511 1,488,601 SECOM JOSHINETSU CO LTD 403,512 476,630 SECURITAS AB B SHS 326,860 474,976 SELECT COMFORT CORPORATION 0 0 SENIOR PLC 1,365,434 1,384,437 SEOUL SEMICONDUCTOR CO LTD 0 0 SEQUANA CAPITAL 558,884 361,031 SERCO GROUP PLC 513,848 480,085 SERVICE CORP INTERNATIONAL 0 0 SFN GROUP INC 402,745 623,664 SHENGUAN HOLDINGS GROUP LTD 553,397 689,192 SHERWIN WILLIAMS CO/THE 1,096,647 1,247,875 SHIKOKU ELECTRIC POWER CO 298,378 291,489 SHIMANO INC 445,233 717,995 SHINER INTERNATIONAL INC 422,849 525,605 SHINGAKUKAI CO LTD 335,243 191,253 SHOE CARNIVAL INC 416,313 486,000 SIEMENS AG REG 527,226 678,269 SILGAN HOLDINGS INC 0 0 SILICON LABORATORIES INC 0 0 SILICON ON INSULATOR SOITEC 0 0 SILICON STORAGE TECHNOLOGY 0 0 SILVER WHEATON CORP 1,382,003 3,002,176

SILVER WHEATON CORP 0 0 SILVER WHEATON CORP 0 0 SILVERCORP METALS INC 807,562 1,483,148 SIMCORP A/S 1,046,065 1,024,726 SINGAPORE AIRLINES LTD 324,164 1,170,446 SINGAPORE AIRPORT TERMINAL S 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value SINGAPORE TELECOMMUNICATIONS 0 0 SINO OCEAN LAND HOLDINGS 0 0 SINO THAI ENGR + CONSTR NVDR 1,444,798 1,377,295 SK KAKEN CO LTD 321,914 402,478 SLM CORP 0 0 SMA SOLAR TECHNOLOGY AG 0 0 SMC CORP 844,426 1,162,811 SMITH + NEPHEW PLC SPON ADR 316,518 363,646 SMITH MICRO SOFTWARE INC 180,735 264,432 SMURFIT KAPPA GROUP PLC 102,213 87,924 SMURFIT KAPPA GROUP PLC 678,207 570,255 SNAM RETE GAS 499,776 570,442 SNAP ON INC 2,187,620 3,666,384 SOCIETE BIC SA 749,592 906,547 SODEXO 856,390 1,512,357 SOLAR MILLENNIUM AG 0 0 SOLAR POWER INC 106,867 30,523 SOMANETICS CORP 0 0 SOMFY SA 373,243 351,909 SOMPO JAPAN INSURANCE INC 0 0 SOUTHERN NATL BANCORP OF VA 140,367 142,880 SOUTHWEST BANCORP INC/OKLA 0 0 SOUTHWESTERN ENERGY CO 830,323 833,192 SPDR GOLD SHARES 2,613,217 5,476,666 SPDR GOLD TRUST 0 0 SPECTRIS PLC 1,965,311 2,507,479 SPECTRUM CONTROL INC 431,635 581,612 SPIR COMMUNICATION 634,406 216,031 SPIRAX SARCO ENGINEERING PLC 1,160,181 1,416,151 SPIRIT AEROSYSTEMS HOLD CL A 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value SPOTLESS GROUP LTD 86,462 86,922 SPRINT NEXTEL CORP 1,360,568 1,395,477 SQUARE ENIX HOLDINGS CO LTD 2,906,623 2,247,753 SSL INTERNATIONAL PLC 0 0 STANDARD MOTOR PRODS 0 0 STANDARD PARKING CORP 296,680 353,243 STANLEY INC 0 0 STARHUB LTD 558,034 626,166 STARLIMS TECHNOLOGIES LTD 0 0 STATOIL ASA 1,156,442 1,239,948 STELLA CHEMIFA CORPORATION 0 0 STERICYCLE INC 0 0 STERIS CORP 176,381 221,312 STERLING BANCORP N Y 447,148 517,218 STERLING CONSTRUCTION CO 235,597 174,736 STEWART ENTERPRISES INC CL A 0 0 STONE ENERGY CORP 0 0 STRYKER CORP 646,984 786,705 SUBSEA 7 INC 0 0 SUCCESSFACTORS INC 0 0 SULZER AG REG 1,030,940 1,464,137 SUNCOR ENERGY INC 2,687,502 2,547,549 SUNPOWER CORP CLASS A 1,472,489 1,419,447 SUPERIOR WELL SERVICES INC 0 0 SUTRON CORP 174,580 268,366 SWATCH GROUP AG/THE BR 0 0 SWEDISH MATCH AB 751,817 1,419,086 SWIBER HOLDINGS LTD 0 0 SWIFT ENERGY CO 0 0 SWIRE PACIFIC LTD A 342,974 624,726 Name of Stock End of Year Book End of Year Fair Value Market Value SWISSCOM AG REG 1,010,613 1,410,910 SYMANTEC CORP 0 0 SYNGENTA AG REG 0 0 SYNOPSYS INC 904,474 1,105,463 T HASEGAWA CO LTD 404,126 499,261 TAIWAN MOBILE CO LTD 541,214 650,229 TAIWAN SEMICONDUCTOR SP ADR 0 0 TAKKT AG 1,023,017 973,644 TALEO CORP CLASS A 0 0 TARGET CORP 0 0 TATA MOTORS LTD SPON ADR 932,838 1,425,924 TATTS GROUP LTD 669,005 834,309 TE CONNECTIVITY LTD 1,891,966 2,223,120 TEAM INC 352,238 597,740 TECH DATA CORP 833,015 902,410 TECHTEAM GLOBAL INC 0 0 TECHWELL INC 0 0 TECK RESOURCES LTD CLS B 0 0 TECO ENERGY INC 0 0 TECUMSEH PRODUCTS CO CLASS A 2,193,963 1,794,375 TELECITY GROUP PLC 1,923,698 1,971,084 TELECOM EGYPT 389,816 420,961 TELECOM ITALIA RSP 477,615 454,142 TELECOM ITALIA SPA 0 0 TELEFONICA CZECH REPUBLIC AS 422,740 371,887 TELEFONICA SA 0 0 TELEFONOS DE MEXICO SAB L 341,115 349,303 TELEKOM AUSTRIA AG 661,733 519,631 TELEKOM MALAYSIA BHD 306,422 324,079 TELEKOMUNIKACJA POLSKA SA 621,981 561,316 Name of Stock End of Year Book End of Year Fair Value Market Value TELEPERFORMANCE 1,141,825 1,216,082 TELEVISION FRANCAISE (T.F.1) 2,198,893 2,204,436 TEMENOS GROUP AG REG 2,660,464 3,723,149 TEMP HOLDINGS CO LTD 800,041 556,127 TEMPLE INLAND INC 0 0 TEMPUR PEDIC INTERNATIONAL 0 0 TEN NETWORK HOLDINGS LTD 0 0 TENNANT CO 0 0 TERADYNE INC 0 0 TERRITORIAL BANCORP INC 303,034 350,416 TESCO CORP 268,763 393,824 TESSCO TECHNOLOGIES INC 80,250 82,940 TETRA TECHNOLOGIES INC 796,163 833,274 TEVA PHARMACEUTICAL IND LTD 613,583 686,911 TEVA PHARMACEUTICAL SP ADR 280,121 231,092 TEXAS INSTRUMENTS INC 485,335 650,325 THAI BEVERAGE PCL 505,067 654,494 THAI CAPITAL FUND INC/THE 293,239 406,910 THALES SA 0 0 THERAVANCE INC 0 0 THERMO FISHER SCIENTIFIC INC 921,907 946,656 THOMSON REUTERS CORP 0 0 THOR INDUSTRIES INC 0 0 TIME WARNER CABLE 0 0 TIME WARNER INC 539,994 585,494 TJX COMPANIES INC 307,692 292,974 TOGNUM AG 3,070,131 3,847,879 TOHOKU ELECTRIC POWER CO INC 240,278 256,643 TOKYO ELECTRIC POWER CO INC 594,573 557,455 TOKYO GAS CO LTD 347,564 426,114 Name of Stock End of Year Book End of Year Fair Value Market Value TOMOTHERAPY INC 0 0 TORISHIMA PUMP MFG CO LTD 0 0 TOTAL SA 714,602 730,120 TOTVS SA 985,331 1,079,157 TOYOTA MOTOR CORP 2,460,754 2,294,754 TRANSATLANTIC PETROLEUM LTD 1,003,520 1,193,472 TRANSCEND SERVICES INC 533,873 982,282 TRAVELERS COS INC/THE 946,082 1,008,351 TRICAN WELL SERVICE LTD 0 0 TRIGANO SA 473,285 515,583 TRINITY LTD 712,481 672,171 TRIQUINT SEMICONDUCTOR INC 992,711 883,764 TRUE RELIGION APPAREL INC 0 0 TRW AUTOMOTIVE HOLDINGS CORP 654,518 1,491,410 TUPPERWARE BRANDS CORP 226,127 572,040 TYCO ELECTRONICS LTD 0 0 TYLER TECHNOLOGIES INC 0 0 UBS AG REG 4,126,816 1,879,465 ULTRA PETROLEUM CORP 341,043 347,288 ULTRATECH INC 0 0 UNILEVER INDONESIA TBK PT 451,768 571,365 UNILEVER NV CVA 0 0 UNION PACIFIC CORP 935,183 1,880,998 UNISYS CORP 1,094,310 978,642 UNITE GROUP PLC 0 0 UNITED ARROWS LTD 665,979 694,809 UNITED CONTINENTAL HOLDINGS 1,914,135 1,783,118 UNITED MICROELECTRON SP ADR 234,995 313,327 UNITED NATURAL FOODS INC 0 0 UNITED PARCEL SERVICE CL B 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value UNITED RENTALS INC 897,318 1,094,275 UNITEDHEALTH GROUP INC 284,391 292,491 UNITIL CORP 533,072 610,569 UNIVERSAL POWER GROUP INC 55,862 64,691 UNIVERSAL STAINLESS + ALLOY 326,002 544,272 UPM KYMMENE OYJ 979,570 1,221,200 US AIRWAYS GROUP INC 885,329 1,136,135 US ECOLOGY INC 318,878 338,562 USA TRUCK INC 1,895,083 1,575,402 USEC INC 988,076 968,016 UTSTARCOM INC 0 0 VALASSIS COMMUNICATIONS INC 822,619 1,410,460 VALEANT PHARMACEUTICALS INTE 0 0 VALIDUS HOLDINGS LTD 0 0 VERIFONE SYSTEMS INC 0 0 VERIZON COMMUNICATIONS INC 0 0 VICTREX PLC 1,357,198 1,835,198 VIEL ET COMPAGNIE 442,894 260,315 VILMORIN + CIE 1,107,068 1,440,922 VISA INC CLASS A SHARES 278,669 232,254 VISCOFAN SA 963,775 1,367,425 VISHAY INTERTECHNOLOGY INC 916,255 954,200 VISTAPRINT NV 0 0 VMWARE INC CLASS A 867,081 889,100 VOLKSWAGEN AG SPONS ADR 1,338,117 1,510,010 VOLT INFO SCIENCES INC 109,488 92,555 VULCAN MATERIALS CO 0 0 WAL MART STORES INC 3,082,003 3,345,278 WANT WANT CHINA HOLDINGS LTD 281,716 310,117 WARNACO GROUP INC/THE 0 0 Name of Stock End of Year Book End of Year Fair Value Market Value WASHINGTON BANKING CO 439,724 459,285 WASION GROUP HOLDINGS LTD 0 0 WASTE CONNECTIONS INC 325,796 342,473 WATSON PHARMACEUTICALS INC 759,036 888,380 WEINGARTEN REALTY INVESTORS 373,811 895,752 WENDEL 300,539 515,850 WESTAR ENERGY INC 336,851 338,654 WESTERN UNION CO 767,354 838,064 WESTFIELD GROUP 640,684 692,574 WESTFIELD RETAIL TRUST 168,837 185,795 WESTLAKE CHEMICAL CORP 1,004,855 1,095,444 WESTON (GEORGE) LTD 813,742 1,279,545 W ESTPORT INNOVATIONS INC 0 0 WGL HOLDINGS INC 0 0 WHEELOCK + CO LTD 0 0 WHOLE FOODS MARKET INC 0 0 WIENERBERGER AG 188,802 219,160 WILSHIRE BANCORP INC 585,408 512,117 WINCOR NIXDORF AG 1,840,858 2,125,184 WINDSTREAM CORP 1,683,731 2,244,340 WINNER MEDICAL GROUP INC 288,530 259,677 WIRECARD AG 543,329 750,799 WORLD FUEL SERVICES CORP 0 0 WORLDSPACE INC CLASS A 0 0 WPCS INTERNATIONAL INC 51,456 57,620 WW GRAINGER INC 927,831 1,146,313 WYNN MACAU LTD 277,692 359,924 WYNN RESORTS LTD 643,923 856,161 XEROX CORP 937,973 976,896 XILINX INC 499,600 585,396 Name of Stock End of Year Book End of Year Fair Value Market Value XL GROUP PLC 0 0 XTO ENERGY INC 0 0 YAHOO JAPAN CORP 417,927 429,554 YASKAWA ELECTRIC CORP 0 0 YAZICILAR HOLDING AS A 7,975 9,963 YINGLI GREEN ENERGY HOLD ADR 0 0 YOOX SPA 1,791,243 2,526,617 YUCHENG TECHNOLOGIES LTD 463,807 234,145 ZEHNDER GROUP AG BR 0 0 ZEON CORP 0 0 ZHONGPIN INC 1,059,330 2,010,134 ZHUZHOU CSR TIMES ELECTRIC H 0 0 ZODIAC AEROSPACE 226,096 443,324 ZUMTOBEL AG 1,150,688 1,258,623 SEE ATTACHMENT H 17,138,858 15,978,149 efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261 TY 2010 Investments Government Obligations Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859 US Government Securities - End of Year Book Value : 519,817 US Government Securities - End of Year Fair Market Value : 514,495 State & Local Government Securities - End of Year Book Value: State & Local Government Securities - End of Year Fair Market value: efiie GRAPHIC print - DO NOT PROCESS As Filed Data - DLN:93491318002261 11

TY 2010 Investments - Other Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859

Category / Item Listed at Cost or Book Value End of Year Fair FMV Market Value ABINGWORTH BIOVENTURES II AT COST 8,462 939,250 ABINGWORTH BIOVENTURES III AT COST 3, 249,229 2,537,562 ABINGWORTH IIA AT COST 306,429 151,946 ACACIA VENTURE PARTNERS L.P. AT COST 760,299 275,068 ACCENT EQUITY PARTNERS AT COST 934 ,328 5,687,955 ADM MACULUS AT COST 5,279, 174 5,413,295 ADM MACULUS FUND III LP AT COST 5,999,131 4,852,532 ADM MACULUS FUND V LP AT COST 10,956,610 11,120,597 ADVENT CENTRAL EUROPE AT COST 0 0 ADVENT GLOBAL PE IV AT COST 1 2,051,853 ADVENT GLOBAL PRIVATE EQUITY I AT COST 1 1,005,157 ADVENT GLOBAL PRIVATE EQUITYII AT COST 0 0 APOLLO INVESTMENT FUND IV AT COST 1 1,951,322 APOLLO INVESTMENTS FD III LP AT COST 46,267 5,124,926 ARCH III AT COST 4,421, 948 264,053 ARCH VENTURE FUND IV LP AT COST 6,558,889 403,658 ARCH VENTURE FUND VI , LP AT COST 4,262,248 6,696,174 AVENUE ASIA SPECIAL SITUATIONS AT COST 10,810,010 12,517,769 AVENUE SPECIAL SITUATIONS FUND AT COST 13,463,500 19,822,746 BENCHMARK CAPITAL PARTNERS IV AT COST 3,899,218 4,410,537 BENCHMARK CAPITAL PARTNERS V AT COST 3 ,919,069 5,581,158 BENCHMARK CAPITAL PARTNERS VI AT COST 2,872,716 4,315,849 BESSEMER VENTURE PARTNERS VII AT COST 28,058,555 29,308,499 BLACK BEAR FUND AT COST 1 473,535 BLACKTHORN PARTNERS, LP AT COST 17,000,000 17,731,098 BUTLER CAPITAL PARTNERS (AKA F AT COST 5,877,102 2,773,901 CAHILL WARNOCK STRAT PRTNERS AT COST 1 26,056 CAPITAL INTERNATIONAL AT COST 3,009, 795 8,393,786 CARMEL VENTURES II LP AT COST 7,077,384 5,660,112 CASTLE HARLAN PARTNERS III AT COST 1 ,251,826 644,970 Category / Item Listed at Cost or Book Value End of Year Fair FMV Market Value CASTLE HARLAN PARTNERS IV AT COST 1,423,881 1,017,962 CFB AT COST 1 131,202 COURT SQUARE VENTURES II LP AT COST 12,008,668 9,820,211 CS CAPITAL PARTNERS II LP AT COST 2,355,676 5,136,037 CS CAPITAL PARTNERS III AT COST 8,258,001 9,520,182 DBAG IV AT COST 848,726 4,929,370 DBAG V AT COST 8,135,623 5,553,629 ENCAP ENERGY CAP FUND VI AT COST 27,228,314 35,314,354 ENCAP ENERGY FUND V AT COST 4,003,914 3,583,412 ENCAP IV AT COST 185,146 175,421 ENERVEST ENERGY AT COST 10,472,957 18,168,500 EUROPEAN SEC DEV FUND III AT COST 6,096,827 6,474,745 EUROPEAN SEC DIV IV AT COST 3,524,471 4,123,714 FIR TREE INTL VALUE FUND AT COST 70,327 263,369 FLYWHEEL I LP AT COST 4,579,593 6,650,670 FORUM ASIAN REALTY INCOME II AT COST 16,916,087 17,488,349 GENERAL ATLANTIC PARTNERS AT COST 32,778,867 42,440,726 GKB AT COST 1 36,172 GOLDMAN SACHS LIQUIDITY PRTNRS AT COST 35,687,986 20,126,334 GOLDMAN SACHS VINTAGE FD III AT COST 2,149,734 3,772,104 GOLDMAN SACHS VINTAGE FUND IV AT COST 7,131,458 7,212,677 HARBERT PRIVATE EQUITY FD II AT COST 10,392,001 6,652,145 HAWKEYE CAPITAL INSTITUTIONAL AT COST 44,000,000 54,739,703 HFIC II OFFSHORE, LTD AT COST 5,602,908 2,698,777 HIGHBRIDGE ASIA OPPORTUNITY AT COST 20,000,000 29,194,242 HIGHFIELDS CAPITAL LTD AT COST 5,000,000 42,597,463 INTERSOUTH PARTNERS III AT COST 1 162,035 INTERSOUTH PARTNERS IV AT COST 4,198,363 1,199,279 INTERSOUTH PARTNERS V LP AT COST 2,380,281 1,391,308 INTERSOUTH PARTNERS VI AT COST 4,323,466 3,621,520 Category / Item Listed at Cost or Book Value End of Year Fair FMV Market Value INTERSOUTH PARTNERS VII AT COST 2,820,000 1,897,290 3 W CHILDS EQUITY PARTNERS III AT COST 3,594,566 3,865,904 JH WHITNEY III AT COST 948,468 200,432 JH WHITNEY IV AT COST 5,020,200 285,180 JH WHITNEY VI AT COST 7,966 ,360 9,839,669 JP MORGAN INCUBATOR FUND II AT COST 0 932,963 JP MORGAN INCUBATOR(CAYMAN) FD AT COST 1 0 KA ENERGY AT COST 0 39,473 KAYNE ANDERSON ENERGY FUND III AT COST 7,669,499 11,004,998 KAYNE ANDERSON ENERGY IV AT COST 20 ,525,363 18,285,640 LINDEN CAPITAL PARTNERS AT COST 4,481,081 8,623,530 LINDEN II CAPITAL PARTNERS AT COST 0 0 LOMBARD ODIER EURO CHOICE II AT COST 4,628,847 4,321,619 MADRONA VENTURE 4 AT COST 3,840 ,000 2,628,666 MADRONA VENTURE III AT COST 9,319,558 10,367,672 MATLIN PATTERSON GLOBAL AT COST 397 ,825 1,030,563 MATLIN PATTERSON GLOBAL OPPORT AT COST 16,399,990 11,681,754 MATRIX PARTNERS VII LP AT COST 2 ,649,357 2,111,648 MAYFIELD XI AT COST 233 ,988 143,213 MEADOW BROOK AT COST 38,848 2,957,056 MERIT ENERGY FUND E II AT COST 1,716 ,966 4,246,890 MERIT ENERGY PARTNERS F II AT COST 9,972,614 12,325,043 MERITECH CAPITAL PARTNERS AT COST 138 ,588 63,646 MPM BIOVENTURES III LP AT COST 3,595,783 2 ,355,708 MPM BIOVENTURES IV QP AT COST 9,300,923 9,419,750 OAK INVESTMENT PARTNERS IX AT COST 5,099 ,507 954,377 OAK INVESTMENT PARTNERS VII AT COST 1,208,287 222,364 OAK INVESTMENT PARTNERS X AT COST 4,146,206 4,044,223 OAK INVESTMENT PARTNERS XI AT COST 3 ,933,378 3 ,640,721 OAK INVESTMENT PARTNERS XII AT COST 15,277,139 15,538,586 Category / Item Listed at Cost or Book Value End of Year Fair FMV Market Value OAK VIII (PROJECT 2626 ) AT COST 4 ,810,453 230,861 OCEANWOOD GLOBAL OPP FUND AT COST 20 ,000,000 20,004,400 OCM OPPORTUNITIES FUND II AT COST 1 43,776 OCM OPPORTUNITIES FUND III LP AT COST 1 171,200 OCM OPPORTUNITIES FUND IV LP AT COST 1 50,697 OCM OPPORTUNITIES FUND LP AT COST 1 0 OCM/GFI OPPORTNITIES FUND II AT COST 1,345,956 4,128,677 PACVEN WALDEN VENTURES IV AT COST 5,057,429 2,644,303 PAUL ROYALTY FUND II, LP AT COST 2,758 ,144 2 ,286,844 PROLOG CAPITAL II LP AT COST 3,716 ,994 2,810,195 PROTEGE QP FUND LTD AT COST 30,000 ,000 44,773,390 QUANTUM ENERGY PARTNERS III AT COST 2,491,149 5,452,245 QUANTUM ENERGY PARTNERS IV AT COST 11,796 ,902 9,352,268 QUANTUM RESOURCES Al LP AT COST 17,293 ,138 8,446,002 RIVERSIDE PARTNERS AT COST 8 ,220,712 8,214,816 RIVERSIDE PARTNERS IV AT COST 1 ,455,115 1,810,532 ROSEMONT INVESTMENT PRTN II LP AT COST 6,955 ,637 7,428,611 SIERRA VENTURES VII AT COST 2 ,981,471 551,106 SQUARE MILE PARTNERS III AT COST 14,515,236 15 ,463,171 TECH INVESTMENTS II LLC AT COST 3,266,827 3,643,622 TGP CAPITAL PARTNERS AT COST 1,900,376 1 ,503,884 USPF FEEDER AT COST 17 ,075,544 16,080,895 USPF III AT COST 14,337 ,766 12,951,764 USVPIV AT COST 963,139 70,772 USVP IX AT COST 3,589,874 2,413,478 USVP V AT COST 3,025,282 28,867 USVP VI AT COST 4,167,643 232,193 USVP VII AT COST 6,342 ,583 1,089,442 USVP VIII LP AT COST 4 ,417,054 2,831,164 VENROCK ASSOC II L.P. AT COST 18,800,223 8,038,563 Category / Item Listed at Cost or Book Value End of Year Fair FMV Market Value VENROCK ASSOCIATES III LP AT COST 3,453,795 2,200,377 WESTON PRESIDIO CAPITAL III LP AT COST 632,324 84,127 WINDERS LAKE HOLDINGS, LLC AT COST 35,867,839 22,616,088 WINGATE II AT COST 1 1,030,312 WINGATE III AT COST 2,701,812 9,142,480 WINGATE PARTNERS IV LP AT COST 5,114,925 3,945,292 l efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261

TY 2010 Land, Etc. Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859

Category / Cost / Other Accumulated Book End of Year Fair Market Item Basis Depreciation Value Value lefile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261 TY 2010 Legal Fees Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859

Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

CAPLIN & DRYSDALE, CHARTER 5,382 5,382

DREW & NAPIER LLC 4,587 4,587

GILAT, BAREKET & CO 9,592 9,592

GOWLINGS LAFLEUR 411 411 HENDERSON LLP

HUSCH BLACKWELL SANDERS 74,305 7,940 66,365 LLP

JAMES W TIPPIN & 5,010 5,010 ASSOCIATION

JONES DAY 2,800 2,800

KANDER RIGBY LLC 15,043 15,043

LIFE SCIENCE LEGAL LLP 252,918 252,918

PATTERSON,BELKNAP, 165,532 17,780 147,752 WEBB/TYLER

SNR DENTON US LLP 704 704

SIDLEY AUSTIN LLP 4,210 4,210

SONNENSCHEIN NATH & 6,535 6,535 ROSEN

STINSON, MORRISON & 230,015 230,015 HECKER

WAGSTAFF &CARTMELL LLP 5,060 5,060 l efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261 TY 2010 Other Assets Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859

Description Beginning of Year - End of Year - Book End of Year - Fair Book Value Value Market Value

PROGRAM-RELATED INV TO COMMUN

BUILDERS OF KANSAS CITY 2,400,000 2,400,000 2,400,000

PROGRAM-RELATED INVESTMENT TO

ROCKHURST UNIVERSITY 186,060 186,060 186,060

CHARTER SCH DEVELOPMENT CO RP 5,000,000 5,000,000 5,000,000

UNION STATION KANSAS CITY, INC 0 2,900,000 2,900,000

BOND DEBT SERVICE FUND 0 20 20 lefile GRAPHIC p rint - DO NOT PROCESS As Filed Data - DLN: 93491318002261

TY 2010 Other Expenses Schedule

Name : Ewing Manon Kauffman Foundation EIN: 43-6064859

Description Revenue and Expenses Net Investment Adjusted Net Income Disbursements for per Books Income Charitable Purposes

TEMPORARY LABOR SERVICES 303,984 303,984

PRO FE SSIO NA L DEV ELO PM ENT 24,833 3,005 21,828

DUES, SUBSCRIPTION & RESOURCES 633,980 460,624 173,356

SUPPLIES 137,412 154 137,258

POSTAGE AND DELIVERIES 161,667 161,687

COMMUNICATIONS-RELATED 953,556 953,556 EXPENSE

HARDWARE, SOFTWARE AND 749,935 2,572 747,364 WE BSIT E

RISK MANAGEMENT 162,364 162,364

OTHER MISCELLANEOUS EXPENSES 192,334 15,579 176,755

EQUIP/FURN REPAIRS AND MAINT 840,117 840,117

PORTFOLIO-OTHER DEDUCT FROM 20,522,347 K1

CHARITABLE CONTRIBUTIONS K1 21,281 efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261

TY 2010 Other Income Schedule

Name : Ewing Manon Kauffman Foundation EIN: 43-6064859

Description Revenue And Net Investment Adjusted Net Income Expenses Per Books Income

Return of funds granted in prior years

Arizona State University #20100274 687 687

Associate Youth Services #20010099 12,250 12,250

Colorado State University #20070865 414 414

Duke University #20080505 1,649 1,649

Duke University #20090526 16 16

Duke University, School of Law #20071086 21,649 21,649

Elizabethtown College, #20060332 2,548 2,548

George Mason University, #20085820 108 108

George Mason University, #20090004 16,864 16,864

Gruter Institute for Law, #20100266 8,539 8,539

Massachusetts Inst of Tech, #20100125 10,058 10,058

Montana State University, #20003836 5,328 5,328

National Academy of Sciences #20071157 309 309

Nat Bureau of Econ Research, #20070898 79 79

Nat Bureau of Econ Research, #20071197 46,838 46,838

New York University, #20090892 309 309

New York University, #20060423 35,998 35,998

Rensselaer Polytechnic Inst, #20085193 12,965 12,965

Rensselaer Polytechnic Inst, #20090196 7,729 7,729

Sparrow Community Develop Corp #20061194 9,938 9,938

Stanford University, #2008003 2,905 2,905

University of CA- Berkeley, #20090002 99 99

University of CA - Davis, #20090046 6,116 6,116

University of CA - Los Angeles,#20085190 1,700 1,700

University of North Carolina, #20050795 13,774 13,774

University of Pennsylvania, #20090043 24,147 24,147

University of Rochester, #20086044 50 50 other income

State Street Commission Recapture 26 26

Gain on currency conversions 519,181 519,181

Miscellaneous Other Income

Fast Trac Sales 46,536 46,536

Fullfillment Income 80,004 80,004

Global Scholars Program 612,569 612,569 iStart Program 7,500 7,500

Miscellaneous 11,421 11,421

Purchasing Card Revenue Shares 11,495 11,495

TMAF Conference Registration 33,424

Royalty Income 30,561 30,561

Kauffman Support Services - Loan Interest 5,944 5,944

Federal & State Tax Refunds 501,519 501,519

Other income / (loss) from partnerships 13,429,009

Refund of Investment Management Fees 139,711 139,711 efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261 TY 2010 Other Liabilities Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859

Description Beginning of Year - End of Year - Book Book Value Value PAYROLL, MISC PAYABLES 211,893 325,306 l efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261 TY 2010 Other Professional Fees Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859

Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

DRIEHAUS CAPITAL MGMT LLC 3,245,277 3,245,277

BRETTON WOODS GROUP 2,234,279 3,500 2,230,779

GENERAL ATLANTIC 1,801,260 1,801,260 PARTNERS

ENERVEST ENERGY FUND X 1,666,647 1,666,647

ENCAP ENERGY CAPITAL FUND 980,509 980,509 VI B

STATE STREET BANK &TRUST 922,191 922,191

FIRST WILSHIRE 894,326 894,326

MATHEMATICA POLICY 700,000 700,000 RESEARCH

ALETHEIA 659,504 659,504

DONALD SMITH &CO 604,344 604,344

KAYNE ANDERSON ENERGY 548,321 548,321 FUND IV

FOE AGENOR 540,723 540,723

QUANTUM ENERGY PARTNERS 535,414 535,414 IV

DOUGLAS E SCHOEN NYC LLC 526,003 526,003

OPTIEM LLC 501,302 501,302

HARRIS ASSOCIATES 481,478 481,478

SQUARE MILE PARTNERS III 450,000 450,000

RAND CORPORATION 439,760 439,760

VELIR STUDIOS, INC 425,635 425,635

CASSIDY TURLEY MIDWEST, 422,405 422,405 INC

GOLDMAN SACHS VINTAGE 414,981 414,981 FUND IV

KAUFFMAN SUPPORT 414,000 414,000 SERVICES

BRIDGEWAY CAPITAL MGMT 373,403 373,403

BUTLER CAPITAL PARTNERS 358,937 358,937

LORD ABBETT 356,780 356,780

FIFTY EGGS LLC 350,000 350,000

COURT SQUARE VENTURES II 338,830 338,830

DANIEL] EDELMAN, INC 336,624 336,624

NUANCE MID CAP VALUE 327,132 327,132

SYMPHONIC STRATEGIES, INC 311,975 311,975 Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

ROSEMONT PARTNERS II 288,203 288,203

FIRST EAGLE INVESTMENTS 281,346 281,346

FDE AGRESSOR 271,560 271,560

FULFILLMENT PLUS, INC 271,062 271,062

PROSYS, INC 229,585 229,585

GOLDMAN SACHS VINTAGE 229,186 229,186 FUND III

ADM MACULUS FUND III 227,733 227,733

LINDEN CAPITAL PARTNERS II 217,752 217,752

HARDY, ROBERTA B 197,598 197,598

KEDROSKY, PAUL 191,614 191,614

WINDERS LAKE HOLDINGS, LLC 190,000 190,000

SILK ROAD PARTNERS, LLC 185,014 185,014

ACCENT EQUITY PARTNERS 183,073 183,073 2003

CS CAPITAL PARTNERS III 182,711 182,711

KREBS , DOUGLAS M 173,562 173,562

REAL CLEAR HOLDINGS, LLC 173,333 173,333

FRIESS ASSOCIATES 171,405 171,405

DONOFRIO, NICHOLAS 156,329 156,329

TROZZOLO CREATIVE 153,755 153,755 RESOURCES

TWO WEST, INC 149,430 149,430

SCHO ENIGER, GARY 149,087 149,087

PIMCO 148,693 148,693

LEVIN, MICHAEL S 145,696 145,696

HESSE, SUSAN 141,575 141,575

ENCAP ENERGY V-B 136,369 136,369

LINDEN CAPITAL PARTNERS 132,866 132,866

TEACHING THAT MAKES 126,648 126,648 SENSE

THE FOUNDRY LLC 125,000 125,000

DESROSIERS, DAVID 124,055 124,055

JONATHAN ORTMANS, LLC 122,895 122,895 Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

GV PARTNERS, LLC 118,291 118,291

DBAG IV 117,598 117,598

M BOOTH &ASSOCIATES, INC 115,031 115,031

RO BB, A LICIA 112,104 112,104

SKYBLUE INTERNATIONAL 110,719 110,719 CORP

ZIMMERMAN, JEAN T 110,221 110,221

MPM BIOVENTURES IV 108,750 108,750

NORDSTROM, MARGARET A 107,201 107,201

CS CAPITAL PARTNERS II 106,798 106,798

BEACON ECONOMICS LLC 106,755 106,755

GOLDIN SOLUTIONS 106,439 106,439

J P MORGAN 104,272 104,272

RIVERSIDE PARTNERS IV 102,775 102,775

PAUL ROYALTY FUND II 100,031 100,031

EDLIN, AARON 100,000 100,000

GREEN, WILLIAM S 100,000 100,000

KAYNE ANDERSON ENERGY 94,545 94,545 FUND III

TRANA, JO DIE 93,033 93,033

BLEICHROEDER ADVISERS, 92,643 92,643 LLC

CAPITAL INTERNATIONAL PE 89,661 89,661 FUND

ADM MACULUS FUND II 87,990 87,990

SKC COMMUNICATION 85,322 85,322 PRO DUCT

JH WHITNEY VI 82,980 82,980

MULCAHY, DIANE 81,017 81,017

BOYD, CATHERINE A 77,350 77,350

AMPERSAND, INC 76,921 76,921

TECH INVESTMENTS II 73,325 73,325

BROUGHTON, PHILIP DELVES 67,437 67,437

RIVERSIDE PARTNERS III 67,340 67,340

MULLER, ALANA R 67,326 67,326 Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

YOODLE LLC 65,549 65,549

KRONLEY &ASSOCIATES 65,176 65,176

NATIONAL OPINION 65,000 65,000 RESEARCH

STRONGCASTLE ADVISORS, 63,581 63,581 LLC

LEGACY SPORTS, INC 63,208 63,208

PURETECH VENTURES, LLC 61,770 61,770

ORGANISATION FOR 61,500 61,500 ECONOMIC CO-O

JAMES 3 HILL REFERENCE 60,603 60,603 LIBRARY

TRANSATLANTIC FUTURES, 60,000 60,000 INC

BROWNING &ASSOCIATES, 58,912 58,912 INC

TRAVEL AND TRANSPORT, INC 58,321 58,321

SSGA GLOBAL ALPHA MAX 57,990 57,990

KOYA CONSULTING LLC 57,583 57,583

CREMALAB, LLC 55,543 55,543

FAIRLIE, ROBERT W 55,000 55,000

DOUGLAS, FRANK 54,832 54,832

HARBERT PRIVATE EQUITY 54,757 54,757 FUND II

LUCAS, WILLIAM A 53,460 53,460

JW CHILDS EQUITY PARTNERS 51,685 51,685 III

THE POP'TECH INSTITUTE 50,542 50,542

VIRANTE, INC 50,280 50,280

CP COGENT SECURITIES, LP 50,000 50,000

COMMONWEAL, LLC 50,000 50,000

STEELCASE INC 49,125 49,125

FORD, SHARI COULTER 47,775 47,775

NORTHOLOGY LLC 46,496 46,496

WILLOUGHBY DESIGN, INC 45,670 45,670

INFAMIA, INC 45,000 45,000

(N) GENIUS MEDIA INC 43,335 43,335

KIMMIS, DAVID G 43,110 43,110 Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

SOCIAL SCIENCE ELECTRONIC 42,000 42,000

CARMEL VENTURES II 40,908 40,908

HURTT, PAMELA D 40,871 40,871

GLICK, ALEXIS D 40,529 40,529

XCONOMY, INC 40,500 40,500

CONE,JUDITH 40,000 40,000

BRIGHTCOVE, INC 39,243 39,243

FENICHELL, STEPHEN 38,128 38,128

MARINER VALUE STRATEGIES 37,988 37,988

WATKINS GROUP 37,391 37,391

MEADOWBROOK REAL ESTATE 35,524 35,524 FUND

STEIN, ALEXANDER 35,000 35,000

PYRAMIS 33,982 33,982

MIRIANI, ANDREW B 33,685 33,685

WEITEKAMP 33,253 33,253 COMMUNICATIONS

VARGO, MICHAEL W 32,953 32,953

PERFO RMANCEPOINTE, INC 32,456 32,456

POWER GROUP DESIGNS 31,500 31,500

NADLMAN, KATHRYN E 30,812 30,812

MPM BIOVENTURES III 30,566 30,566

MCDO NA LD, GO RDO N 30,000 30,000

LACY, SARAH 30,000 30,000

LIGHTBAR PRODUCTIONS, INC 28,721 28,721

HARRINGTON, SCOTT E 28,000 28,000

DOLCEGOLDIN LLC 27,765 27,765

DUNCAN, DAVID 27,500 27,500

THE ULTIMATE SOFTWARE 27,272 27,272 GROUP

REES, MATTHEW 26,556 26,556

ZO LLER, TED D 26,335 26,335

HARGADO N, ANDREW 25,868 25,868 Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

GH MEDIA LTD 25,763 25,763

LUMINARY LABS LLC 25,584 25,584

PALADIN AND ASSOCIATES 25,311 25,311

BAUMOL, WILLIAM J 25,000 25,000

KIPP FOUNDATION 25,000 25,000

THE RARE PROJECT 25,000 25,000

ADM MACULUS FUND V 23,923 23,923

MATLIN PATTERSON GLOBAL 23,261 23,261 OPPORT

LODH ODIER EURO CHOICE II 23,072 23,072

GOO DENO W, ANDREW] 23,064 23,064

NET STANDARD, INC 22,444 22,444

REEDY, ERIK J 22,349 22,349

EVENTS PLUS, LLC 21,505 21,505

AMERICAN RESEARCH 21,120 21,120 INSTITUTE

NEXSEN PRUET, LLC 21,115 21,115

PARRIS COMMUNICATIONS, 20,194 20,194 INC

SMITH, TO DD A 20,112 20,112

COOTER, ROBERT DANDRIDGE 20,000 20,000

SCHRAGER, ALLISON 20,000 20,000

CHEN, DANIEL 20,000 20,000

FIDELITY INVESTMENTS INST 19,470 19,470

CUSACK, JACOB SLO CU M 19,072 19,072

GOWEN, SARAH 18,480 18,480

PARKER, SUSAN E 18,206 18,206

MALMSTROM, ERIK E 17,897 17,897

ADCOM COMMUNICATIONS, 17,232 17,232 INC

EFL ASSOCIATES, INC 17,050 17,050

FREILICH, ALYSE L 17,000 17,000

LESTER, MARGOT CARMICHAE 16,770 16,770

SIMPSON HEALTHCARE 16,713 16,713 EXECUTIVES Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

WASSERMAN, NOAM T 16,375 16,375

ARNOLD, KATHLEEN M 16,000 16,000

CBIZ BENEFITS & INSURANCE 15,625 15,625

DUN &BRADSTREET 15,498 15,498 INFORMATION

MILLER, JUDITH 15,388 15,388

HARRIS INTERACTIVE, INC 15,250 15,250

VISIBLE ECONOMY LLC 15,000 15,000

MCDERMOTT, PETER D 14,593 14,593

ACT, INC 13,715 13,715

MALSICK, RICHARD J 13,706 13,706

STOLPER & CO 12,500 12,500

GULBRANSON, CHRISTINE 12,108 12,108

WILKINSON,TIMOTHY DAVID 11,868 11,868

GELB, MICHAEL 10,960 10,960

SUMMERS, JODY L 10,602 10,602

NAT COUNCIL ON TEACHER 10,000 10,000 QUALITY

ABACUS CHARTER SCH 9,180 9,180 CONSULTING

ENCAP ENERGY IV 8,956 8,956

MCDO NALD, MARK 8,865 8,865

EAST & ROLAND CONSULTING, 8,576 8,576 LLC

PEAR/MCLEAN HOSPITAL 8,400 8,400 CORP

T C STRATEGIES, INC 8,400 8,400

TIKIT LTD 8,241 8,241

EMC RESEARCH, INC 8,142 8,142

WARSH, DAVID L 7,500 7,500

SUAREZ, JUAN CARLOS 6,989 6,989

TRACK CONSULTING LLC 6,500 6,500

TMPITMAN &ASSOCIATES, 6,450 6,450 LLC

LECTURE MANAGEMENT, INC 6,368 6,368

PAGES, ERIK R 6,000 6,000 Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

RINGENBERG, MARK 5,790 5,790

LONG, MICHELLE L 5,675 5,675

GUNDERSON DETTMER 5,612 5,612 STOUGH

CREWS CONTROL 5,339 5,339

IRON CREATIVE 5,058 5,058

HARNESS, JANET S 5,000 5,000

LASNIK-BROIDA 5,000 5,000 CONSULTANTS

MERCER (US) INC 5,000 5,000

CLEAR IDENTITY, INC 5,000 5,000

LEE, SUSAN 5,000 5,000

ALL OTHERS UNDER $5,000 153,512 3,213 150,299 lefile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93491318002261

TY 2010 Taxes Schedule

Name : Ewing Marion Kauffman Foundation EIN: 43-6064859

Category Amount Net Investment Adjusted Net Disbursements for Income Income Charitable Purposes

FOREIGN TAX PAID 292,173

STATE FILING FEES 280 280

JACKSON COUNTY COLLECTOR 1,037

STATE TAXES ON UBIT 7,915 7,915 Ewing Marion Kauffman Foundation ATTACHMENT TO PART 1, LINE 26 (d) - TOTAL OPERATING AND ADMINISTRATIVE EXPENSES For the Year Ended December 31, 2010

PROGRAM AREA DESCRIPTIONS

RESEARCH (Supports All Program Areas):

Through an intense research strategy, the Kauffman Foundation aims to push the field of entrepreneurship into the academic mainstream, elevating the importance that both academic researchers and policy makers give to the subject To accomplish this, the Foundation is working with grantees to pursue new knowledge in key subject areas we believe are critical to understanding and legitimizing entrepreneurship. In the area of youth education, we are using research to help uncover the most effective programs and approaches for helping children succeed in school and in life

EDUCATION:

The Kauffman Foundation has ambitious goals for improving the academic achievement of disadvantaged children, particularly in Kansas City's urban core We believe, as did Ewing Kauffman, that dedicating resources to education most substantially effects the ability of children and youth to be self sufficient, find jobs, raise their families, and be more productive citizens. Kansas City's -- and America's - competitive edge in the global economy depends on an education system capable of producing a steady supply of young people who are well- trained in mathematics, science, and related technical disciplines. In addition to creating capacity for important growth industries-such as engineering, computer technology, medicine, and biotechnology-students with solid math and science skills often go on to become the world's most successful entrepreneurs providing innovations that expand human welfare and benefit the world

HIGHER EDUCATION ENTREPRENEURSHIP:

Amencan colleges and universities have a pivotal role in transferring knowledge, ideas, and cultural values from one generation to the next For years, the Kauffman Foundation has supported entrepreneurship programs at many universities and is now building on that history by working to improve the quantity and quality of scholarly entrepreneurship research and expanding access to multidisciplinary entrepreneurship training.

ENTREPRENEURSHIP - TRAINING:

From the second-grader selling lemonade to the teen who mows grass, the Kauffman Foundation seeks to connect with the next generation of entrepreneurs by teaching the principles fundamental to entrepreneurship. Innovative educational programs teach entrepreneurship concepts and show kids that

A]'t'ac'fi%lFNT A Ewing Marion Kauffman Foundation ATTACHMENT TO PART 1, LINE 26(d) - TOTAL OPERATING AND ADMINISTRATIVE EXPENSES For the Year Ended December 31, 2010 business ownership is possible, while reinforcing positive messages about what entrepreneurs do for their communities and for society Adult programs advanced by the Kauffman Foundation focus on entrepreneurial financing and training Training supported by the Kauffman Foundation, including the suite of FastTrac® programs and educational resources available through our Web-based resources, provide nuts-and-bolts lessons essential for taking a business at any stage to the next level.

MINORITY ENTREPRENEURSHIP:

The Kauffman Foundation has developed and implemented an educational model that helps entrepreneurs in economically disadvantaged areas, particularly minorities, better understand their business and better prepare for and pursue growth As we identify industry financing standards and open the industry to women and minorities, high-potential start-up and early-stage companies in economically disadvantaged areas are able to grow and create more jobs Our research into these issues - from the participation of women in the venture capital industry to the rate of return on venture capital investments made in minority-owned firms - informs our work and shines a spotlight on America's entrepreneurial achievement gaps.

ADVANCING INNOVATION:

While university research has spun out many high-impact companies and consumer products, a great number of promising discoveries consistently fail to be developed, advanced through further research, or produce innovations Contributing to this problem is a closed system for moving innovations from university labs The Kauffman Foundation is exploring ways to connect this research network and create a more open system that promotes new collaborations, allowing university researchers to share their discoveries and develop innovations that improve our lives

KAUFFMAN LABORATORIES FOR ENTERPRISE CREATION:

Kauffman Laboratories for Enterprise Creation draws on the best of the Kauffman Foundation programs to educate entrepreneurs Kauffman Labs is a multifaceted approach designed to teach new entrepreneurs how to be successful in building high growth, scale firms that accelerate economic growth and expand human welfare By extending "the science of startups," Kauffman Labs offers a new method for teaching and training entrepreneurs that draws on the practical experience of developing new businesses.

2 n•J'•r kCIIMFN•r A Ewing Marion Kauffman Foundation ATTACHMENT TO PART 1, LINE 26(d) - TOTAL OPERATING AND ADMINISTRATIVE EXPENSES For the Year Ended December 31, 2010

COMMUNICATIONS:

The Kauffman Foundation's communications efforts seek to protect and extend the organization's national reputation, leverage its work, and share the entrepreneurship story with the widest possible audience. The area produces a wide range of written materials, reports and journals, and creates online content and video pieces supporting Kauffman Foundation programs that provide entrepreneurs with the tools they need to foster better conditions and a thriving national economy The Kauffman Foundation seeks to reach a broad and influential audience to raise awareness of the importance of the field of entrepreneurship by providing national media outlets with relevant research and thoughtful analysis

KANSAS CITY CIVIC ENGAGEMENT:

As a philanthropic leader and strong corporate citizen in Kansas City, the Foundation's Kauffman Legacy Fund supports select projects that significantly improve the quality of life for citizens of Kansas City and contribute to the civic welfare of our community The Foundation's 40,000-square-foot Conference Center serves as a community resource, providing meeting facilities, state-of the- art technology, and amenities for a wide range of local, regional and national gatherings

3 ATI'kCHNIENT A Ewing Marion Kauffman Foundation ATTACHMENT TO PART 1, LINE 26 - TOTAL OPERATING AND ADMINISTRATIVE EXPENDITURES For the Year Ended December 31, 2010

KAUFFMAN FOUNDATION SUMMARY OF ACTUAL EXPENDITURES ($Millions) Total % ADMINISTRATIVE OVERHEAD $8.5 10% (Includes costs related to Legal, Finance, HR, and Office of the CEO) PROGRAM MANAGEMENT $10.3 12% (Includes all program management staffing costs and related facilities, technology, and travel/business expenditures) KANSAS CITY CIVIC ENGAGEMENT $8.5 10% (Includes tables and sponsorships, conference center costs, and other primarily Kansas City-focused spending) PROGRAMS (Represents all costs associated with programs from idea generation through transition/spin-off)

Program Areas Higher Commun- Education Growth Minority Advancing Kauffman ications - Education E -Ship E-Ship E-Ship Innov ation Labs Gen eral

Research , Evaluation & Program Development ------$9.8 12% Programs $7 1 $4 8 $5 8 $0 0 $3 2 $5 0 $2 9 $28.8 35% Transition / Spin-Offs $9 2 $0 0 $3 6 $1 8 $0 2 $0 0 $0 0 $14.8 18% TOTAL PROGRAMS $16.3 $4.8 $9.4 $1 .8 $3.4 $5.0 $2.9 $53.4 65%

Bond Interest Expense $2.7 3%

TOTAL 2010 EXPENDITURES PER PART I, LINE 26(d) $83.4 100%

ATTACHMENT A EWING MARION KAUFFMAN FOUNDATION

TAX ID #43-6064859 TAX YEAR ENDING: 12/31/10

PART VII-B, QUESTION 5C. TAXES ON TAXABLE EXPENDITURES FORM 990PF INFORMATION RELATING TO GRANTS SUBJECT TO EXPENDITURE RESPONSIBILITY

GRANT #: 20070824

GRANTEE: Carnegie Foundation for the Advancement of Teaching 51 Vista Lane Stanford, CA 94305

GRANT APPROVAL DATE: GRANT AMOUNT: February 28, 2007 $75,00000

DATE OF PAYMENT AMOUNT OF PAYMENT TOTAL OF PAYMENTS Aug ust 29, 2007 $25,000 00 September 16, 2008 $25,000 00 _ June 29, 2010 $25,000.00 $75,000 0 0

TOTAL SPENT AS OF $75,000.00 December 31, 2010:

DATE OF REPORT FOR October 17, 2011 GRANTEE:

PURPOSE: Study to identify and promote outstanding approaches to integrating preparation for entrepreneurship with liberal arts education and undergraduate business education

DIVERSION: To the knowledge of the Foundation, no funds have been directed to any activity other than the activity for which the grant was originally made

VERIFICATION: The grantor has no reason to doubt the accuracy or reliability of the report from the grantee, therefore, no independent verification of the report was made

ATTACHMENT A EWING MARION KAUFFMAN FOUNDATION

TAX ID #43-6064859 TAX YEAR ENDING : 12131/10

PART VII-B, QUESTION 5C. TAXES ON TAXABLE EXPENDITURES FORM 990PF INFORMATION RELATING TO GRANTS SUBJECT TO EXPENDITURE RESPONSIBILITY

GRANT #: 20070884

GRANTEE: Uncommon Individual Foundation 795 East Lancaster Avenue, Suite 204 Vtllanova, PA 19085

GRANT APPROVAL DATE: GRANT AMOUNT: April 17, 2007 $600,000 00

DATE OF PAYMENT AMOUNT OF PAYMENT TOTAL OF PAYMENTS June 6, 2007 $200,000 00 April 23, 2008 $200,000 00 _ May 8, 2009 $200,000.00 $600,000.00

TOTAL SPENT AS OF $600,00000 December 31, 2010:

DATE OF REPORT FOR October 5 2011 GRANTEE:

PURPOSE: Support for efforts to educate mentors and proteges, develop curriculum supporting technology and programs relating to such education, and conduct research about the mentor- protege relationship

DIVERSION: To the knowledge of the Foundation, no funds have been directed to any activity other than the activity for which the grant was originally made

VERIFICATION: The grantor has no reason to doubt the accuracy or reliability of the report from the grantee, therefore, no independent verification of the report was made

AT'll'AC11MENT 13 EWING MARION KAUFFMAN FOUNDATION

TAX ID #43-6064859 TAX YEAR ENDING : 12/31/10 PART VII-B, QUESTION 5C. TAXES ON TAXABLE EXPENDITURES FORM 990PF INFORMATION RELATING TO GRANTS SUBJECT TO EXPENDITURE RESPONSIBILITY

GRANT #: 20080275

GRANTEE: Kauffman Innovation Network, Inc 4801 Rockhill Road Kansas City, MO 64110

GRANT APPROVAL DATE. GRANT AMOUNT: October 15 2007 $2,500,000 00

DATE OF PAYMENT AMOUNT OF PAYMENT TOTAL OF PAYMENTS October 31, 2 007 $100,000 00 November 20, 2 007 $100,000 00 Janua 17. 2008 __ $100,000.00 March 14, 2008 $100.00000 April 25, 2008 $100,000 00 June 30, 2008 $100,00000 September 24, 2008 $175,000 00 November 7, 2008 $100,000 00 December 17, 2008 $225.00000 March 31, 2009 _ $100,000 00 May 12, 2009 $100,000 00 June 9, 2009 $ 50 000 00 July 28 2009 $100,00000 October 23, 2009 ! $100,00000 _ December 15, 2009 $100,000 00 May 5, 2010 $100,00000 July 30, 2010 $100,000 00 $1,85D,000 00

TOTAL SPENT AS OF $1,772,676 87 December 31, 2010.

DATE OF REPORT FOR July 21 2011 GRANTEE:

PURPOSE : Advance the scientific and technological knowledge and research developed by universities and other 501 (c)(3) scientific research institutions by improving institutional capability to disseminate scientific discoveries and facilitating better understanding of compliance with the Bayh-Dole Act of 1980

DIVERSION : To the knowledge of the Foundation, no funds have been directed to any activity other than the activity for which the grant was originally made

VERIFICATION The grantor has no reason to doubt the accuracy or reliability of the report from the grantee, therefore no independent verification of the report was made

ATTACH MENT B EWING MARION KAUFFMAN FOUNDATION

TAX ID #43-6064859 TAX YEAR ENDING : 12/31110

PART VII-B, QUESTION 5C. TAXES ON TAXABLE EXPENDITURES FORM 990PF INFORMATION RELATING TO GRANTS SUBJECT TO EXPENDITURE RESPONSIBILITY

GRANT #: 20085729

GRANTEE : TiE, Inc 2903 Bunker Hill Lane . Suite 150 Santa Clara , CA 95054

GRANT APPROVAL DATE: GRANT AMOUNT: September 10, 2008 $250,00000

DATE OF PAYMENT AMOUNT OF PAYMENT TOTAL OF PAYMENTS Februa ry 18, 2009 $125,00000 _ April 14, 2010 _ _ $125,000 00 $250,00000

TOTAL SPENT AS OF $250 000 00 December 31, 2010:

DATE OF REPORT FOR October 4, 2011 GRANTEE:

PURPOSE: Support creation and delivery of educational materials for training and tracking mentors and conducting research regarding the effectiveness of mentoring activity, particularly in on-line and multi-cultural environments.

DIVERSION: To the knowledge of the Foundation, no funds have been directed to any activity other than the activity for which the grant was originally made.

VERIFICATION: The grantor has no reason to doubt the accuracy or reliability of the report from the grantee, therefore, no independent verification of the report was made

ATTACH MENT B EWING MARION KAUFFMAN FOUNDATION

TAX ID #43-6064859 TAX YEAR ENDING : 12131/10

PART VII-B, QUESTION 5C. TAXES ON TAXABLE EXPENDITURES FORM 990PF INFORMATION RELATING TO GRANTS SUBJECT TO EXPENDITURE RESPONSIBILITY

GRANT # : 20100144

GRANTEE : National Association for Business Economics 1233 20th Street, NW, Suite 505 Washington, DC 20036

GRANT APPROVAL DATE: GRANT AMOUNT: January 21, 2010 $4,31500

DATE OF PAYMENT AMOUNT OF PAYMENT TOTAL OF PAYMENTS February 4, 2010 $4,315.00 1$4.31500

TOTAL SPENT AS OF $4,315 00 December 31, 2010:

DATE OF REPORT FOR May 7 2010 GRANTEE:

PURPOSE: Support the educational session titled "Strengthening the Nation's Entrepreneurs Small Business Challenges and Opportunities after the Great Recession" at the 2010 National Association for Business Economics Policy Conference, in Arlington, Virginia, March 7-9 2010

DIVERSION: To the knowledge of the Foundation, no funds have been directed to any activity other than the activity for which the grant was originally made

VERIFICATION: The grantor has no reason to doubt the accuracy or reliability of the report from the grantee, therefore no independent verification of the report was made

ATTACHMENT B EWING MARION KAUFFMAN FOUNDATION

TAX ID #43-6064859 TAX YEAR ENDING: 12/31110

PART VII-B, QUESTION 5C. TAXES ON TAXABLE EXPENDITURES FORM 990PF INFORMATION RELATING TO GRANTS SUBJECT TO EXPENDITURE RESPONSIBILITY

GRANT #: 20100266

GRANTEE : Gruter Institute for Law and Behavioral Research 158 Goya Road Portola Valley, CA 94028

GRANT APPROVAL DATE: GRANT AMOUNT: March 3, 2010 $36,46043

DATE OF PAYMENT AMOUNT OF PAYMENT TOTAL OF PAYMENTS April 14, 2010 $44,999.00 September 23, 20 10 ($8,538.57) Refund $36,460.43

TOTAL SPENT AS OF $36,460 43 December 31, 2010:

DATE OF REPORT FOR March 8, 2011 GRANTEE:

PURPOSE: Support a workshop to teach professors and instructors a new paradigm for leadership and leadership instruction to develop crucial skills and abilities of entrepreneurs and innovators

DIVERSION: To the knowledge of the Foundation, no funds have been directed to any activity other than the activity for which the grant was originally made

VERIFICATION: The grantor has no reason to doubt the accuracy or reliability of the report from the grantee, therefore, no independent verification of the report was made

1TTACIIMFN'r R EWING MARION KAUFFMAN FOUNDATION

TAX ID #43-6064859 TAX YEAR ENDING : 12/31/10

PART VII-B, QUESTION 5C. TAXES ON TAXABLE EXPENDITURES FORM 990PF INFORMATION RELATING TO GRANTS SUBJECT TO EXPENDITURE RESPONSIBILITY

GRANT #: 20100867

GRANTEE : National Association for Business Economics 1233 20th Street, NW, Suite 505 Washington, DC 20036

GRANT APPROVAL DATE : GRANT AMOUNT: September 7, 2010 $4.17500

DATE OF PAYMENT AMOUNT OF PAYMENT TOTAL OF PAYMENTS October 4, 2010 $4,175 00 1$4,17500

TOTAL SPENT AS OF $4,175.00 December 31, 2010:

DATE OF REPORT FOR February 23, 2011 GRANTEE:

PURPOSE : Support the Small Business Panel session at the 2010 National Association for Business Economics Annual Meeting in Washington, D C , October 10, 2010

DIVERSION : To the knowledge of the Foundation, no funds have been directed to any activity other than the activity for which the grant was originally made

VERIFICATION: The grantor has no reason to doubt the accuracy or reliability of the report from the grantee, therefore, no independent verification of the report was made

A1TACHMENT B EWING MARION KAUFFMAN FOUNDATION

TAX ID #43-6064859 TAX YEAR ENDING : 12/31/10

PART VII-B, QUESTION 5C. TAXES ON TAXABLE EXPENDITURES FORM 990PF INFORMATION RELATING TO GRANTS SUBJECT TO EXPENDITURE RESPONSIBILITY

GRANT #: 20100883

GRANTEE : Greater Kansas City Chamber of Commerce 2600 Commerce Towers 911 Main Street Kansas City, MO 64105-2049

GRANT APPROVAL DATE: GRANT AMOUNT: August 31, 2010 $12,000 00

DATE OF PAYMENT JAMOUNT OF PAYMENT TOTAL OF PAYMENTS November 3, 2010 I $12,000. 00 $12,000.00

TOTAL SPENT AS OF $7 000 00 December 31, 2010:

DATE OF REPORT FOR April 25, 2011 GRANTEE:

PURPOSE: Support the Greater Kansas City Chamber of Commerce as a partner with the National Council on Teacher Quality as it studies teacher quality in Kansas City, Missouri

DIVERSION : To the knowledge of the Foundation, no funds have been directed to any activity other than the activity for which the grant was originally made

VERIFICATION: The grantor has no reason to doubt the accuracy or reliability of the report from the grantee therefore, no independent verification of the report was made

ATTACHMENT I1 EWING MARION KAUFFMAN FOUNDATION

TAX ID #43-6064859 TAX YEAR ENDING: 12131110

PART VII-B, QUESTION 5C. TAXES ON TAXABLE EXPENDITURES FORM 990PF INFORMATION RELATING TO GRANTS SUBJECT TO EXPENDITURE RESPONSIBILITY

GRANT #: 20101162

GRANTEE : O'Reilly Media, Inc 1005 Gravenstein Highway North Sabastopol , CA 95472

GRANT APPROVAL DATE: GRANT AMOUNT: November 29, 2010 $25,000 00

DATE OF PAYMENT -AMOUNT OF PAYMENT TOTAL OF PAYMENTS December 13, 2010 $15,000.00 $15,000 00

TOTAL SPENT AS OF $000 December 31, 2010:

DATE OF REPORT FOR March 15, 2011 GRANTEE:

PURPOSE: Support the creation of a Maker Faire Playbook which will provide communities with a plan for replicating a Maker Faire event

DIVERSION: To the knowledge of the Foundation, no funds have been directed to any activity other than the activity for which the grant was originally made

VERIFICATION: The grantor has no reason to doubt the accuracy or reliability of the report from the grantee, therefore, no independent verification of the report was made

ATTACH MENT 13 Ewing Marion Kauffman Foundation ATTACHMENT TO PART IX-A - SUMMARY OF DIRECT CHARITABLE ACTIVITIES For the Year Ended December 31, 2010

PROGRAM DESCRIPTIONS

FastTrac® FastTrac® is a practical, experiential curriculum that teaches entrepreneurs how to learn and hone the skills needed to create, manage and grow a successful business FastTrac participants work on their own business ideas or business ventures throughout the course Experienced business counselors and a course instructor lead small-group and individual learning, and provide advice on class assignments FastTrac courses are offered at various sites around the country

Entrepreneurship.org Entrepreneruship org is a free online community created by the Kauffman Foundation as a resource designed to help build entrepreneurial economies Entrepreneurship org features an array of content to assist entrepreneurs, business mentors, policy makers, academics and investors through each phase of the entrepreneurial process The content ranges from information to help entrepreneurs launch a company to policies and research that has been conducted regarding entrepreneurship generally The Web site also has a large amount of supportive content that relates to entrepreneurship activities, high-growth initiatives, policies and research from around the word

Communications The Kauffman Foundation's communications efforts seek to protect and extend the organization's national reputation. leverage its work, and share the entrepreneurship story with the widest possible audience The area produces a wide range of written materials, reports and journals, and creates online content and video pieces supporting Kauffman Foundation programs that provide entrepreneurs with the tools they need to foster better conditions and a thriving national economy The Kauffman Foundation seeks to reach a broad and influential audience to raise awareness of the importance of the field of entrepreneurship by providing national media outlets with relevant research and thoughtful analysis

Research & Policy Through an intense research strategy, the Kauffman Foundation aims to push the field of entrepreneurship into the academic mainstream, elevating the importance that both academic researchers and policy makers give to the subject To accomplish this, the Foundation is working with our grantee-partners to pursue new knowledge in key subject areas we believe are critical to understanding and legitimizing entrepreneurship In the area of youth education, we are using research to help uncover the most effective programs and approaches for helping Kansas City area children succeed in school and in life

ATTACHMENT C Ewing Manor Kaufman Foundation ATT.CFWENT TO PAR- IX•A 99CPF - SUMMARY OF DIPEC- CHARITABLE ACTIVITIES Fn-the Year Endea DectmZer 3', 2010

Research PROGRAM (1) FastTrac® Entrepreneurship org Communications & Polity

Programmatic Operating Expenses

Direct Expenses

Professional Fees S1 9262,36 5814 663 Stx14 61-., S' 2'4 242

,rival (.si'orences nloo' nay 248 265 12 ,'69 958 696 720 973

:4ages 324 565 1 550186 224 49n

Olher 1xpenses 554 874 47B 21%054 2441,57

Subtotal Direct Expenses 2,729 , 405 1 , 151,872 6,368,862 6,403817

Indirect Expenses

OLLLp4'cy 52 76C '2 172 25' 563 55 6W,

Tvcn'lology 346 '96 33 488 4 ^C 2C R '20 1 L ^

Subtotal Indirect Expenses 600 ,955 46 461 753 768 375 779

Total Programmatic Operating Expenses 3330,261 1 ,198,333 6, 133,630 6,779 696

Grant Payments '141 278 1 075 81.0 ',-'7b 6^G

TOTAL 3, , 8 51,19933 $7,209,430 519,306,445

ckfigures. 63,671,639 51198.333 $7,20.E 512,306445 variance 50 $0 so s0

Prior Year 52.348.573 $1,501,216 $8,410.699 512,032,102

ATTACHMENT C Ewing Marion Kauffman Foundation ATTACHMENT TO PART XV - SUPPLEMENTARY INFORMATION For the Year Ended December 31, 2010

Name : Ewing Marion Kauffman Foundation

Type of Organization : Private foundation

Submit Applications to: Grant Administrator 4801 Rockhill Road Kansas City, Missouri 64110-2046 (816) 932-1000

Web address : www kauffman org

Founder : Ewing Marion Kauffman (1916-1993)

Year Founded: 1966

Focus areas : The Foundation focuses its operations and grantmaking on solving the underlying social problems in the two areas that were central to Ewing Kauffman's life entrepreneurship and education

History: The late entrepreneur and philanthropist Ewing Marion Kauffman established The Kauffman Foundation in the mid-1960s Ewing Kauffman's early philanthropic efforts involved the development of innovative programs to help at-risk children and youth stay in school, avoid using drugs, and become productive members of society As the Foundation evolved, he listened to advisors and critics of rich and influential philanthropic foundations and began to shape a philanthropy that would drive impact His impulses to philanthropy came out of the deepest roots of his own life and experience As an entrepreneur, Ewing Kauffman felt strongly about the value of entrepreneurship as a means to help individuals gain economic independence and as the best way to create jobs and wealth in society Mr Kauffman expected his Foundation to make the biggest impact possible by being innovative and never settling for the status quo

Ewing Kauffman : Ewing Kauffman was the prototypical entrepreneur, who started with few resources He grew his firm, Marion Laboratories, into a billion-dollar company over four decades, and did so in an ethical and compassionate manner He brought professional baseball back to Kansas City by establishing the Kansas City Royals He experienced first hand the rewards of education and entrepreneurship for himself, his family, his work associates, and his community He wanted his philanthropy to promote entrepreneurship and education as a means to improve lives

Foundation Overview: The Ewing Marion Kauffman Foundation works with others to encourage entrepreneurship across America and improve the education of children and youth Often taking the unconventional path, the Kauffman Foundation seeks to lead with ideas, content, and relationships that harness the power of entrepreneurship and innovation to grow the economy and improve human welfare Through its research and other initiatives, the Kauffman Foundation aims to open young people's eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of

FOUNDATION AT A GLANCE ATTACHMENT D Ewing Marion Kauffman Foundation ATTACHMENT TO PART XV - SUPPLEMENTARY INFORMATION For the Year Ended December 31, 2010

entrepreneurship-friendly policies, and find alternative pathways for the useful application and possible commercialization of new knowledge and technologies The Foundation also works to prepare students to be innovators, entrepreneurs and skilled workers in the 21st century economy

The Role of Philanthropy: Philanthropy can bring a fresh perspective in the absence of traditional competitive pressures and bureaucratic constraints that limit or inhibit creativity, innovation, and responsible programmatic risk taking This freedom comes with the responsibility to bring new ideas, energy and people to the mix and ultimately to devote leadership and resources in ways that others cannot

Our Philosophy: The Kauffman Foundation operates as an entrepreneurial foundation taking calculated reasonable programmatic risks and looking for opportunities where our resources (applied in a thoughtful way) can make a meaningful difference in the lives of people in the areas in which we work

Guided by research and original thinking, we focus on ideas that have the power to reshape the knowledge and information available to entrepreneurs and those interested in entrepreneurship, and the ways academic achievement can encourage children to think for themselves and realize their dreams

Our Vision: A society of economically independent individuals who are engaged citizens, contributing to the improvement of their communities

Our Mission: To help individuals attain economic independence by advancing educational achievement and entrepreneurial success, consistent with the aspirations of our founder, Ewing Marion Kauffman

Our Approach: In pursuit of our mission, we will abide by key principles espoused by our founder • Identify opportunities where application of the Foundation's people, ideas, and capital can benefit society in significant and measurable ways • Develop innovative, research-based programs leading to practical, sustainable solutions that are widely accepted and implemented • Treat the Kansas City region as a program incubator, where feasible, in which new approaches can be tried and tested before being disseminated nationally • Partner with others to leverage our resources and capabilities while avoiding the creation of dependency

Our Credo: Our founder, Ewing Kauffman, aspired to advance human welfare by creating future generations of entrepreneurs Consistent with this aim, Mr Kauffman also realized the importance of young people obtaining a quality education In seeking to make real his vision, we the associates of the Ewing Marion Kauffman Foundation, embrace the following beliefs

As stewards of Mr Kauffman's trust and values, we believe

• We are privileged to do this work

2 FOUNDATION AT A GLANCE ATTACHMENT D Ewing Marion Kauffman Foundation ATTACHMENT TO PART XV - SUPPLEMENTARY INFORMATION For the Year Ended December 3 1, 2010

• Our pursuit of excellence, with no conventional market signals, requires relentless self-examination and conviction to the ever-increasing importance of the Foundation's work • Our success requires continuous personal and intellectual growth, careful listening, honesty and openness in challenging one another, personal and corporate humility, and high quality teamwork, leavened by a sense of humor • We must avoid conflicts of interest, honor trust, and maintain appropriate confidentiality • We are responsible for making prudent, wise, and leveraged use of all our resources, including our reputation, fellow associates, ideas, networks, and money • We will make a meaningful difference by recognizing and pursuing opportunities, thinking creatively, taking thoughtful action, undertaking responsible risks, nurturing our culture of open dialog and seeking continuous self-renewal • We must hold ourselves to high standards of effective grantmaking and our grantees to high standards of performance measured wherever possible We are guided by research, purposeful discussion, fact-based judgments, fairness, clearly articulated expectations, and by acknowledging and sharing our failures and successes with others

Each associate of the Kauffman Foundation is responsible for bringing the words of our credo to life

Kauffman Foundation in Kansas City : Kansas City was Ewing Kauffman's home and it will always be the home of the Kauffman Foundation Mr Kauffman directed the Foundation to have a national focus, a global reach, and an enduring interest in Kansas City He felt Kansas City should be a wellspring for a continuous stream of new ideas and programs that could be replicated across the nation to transform society, and likewise that ideas proven elsewhere in entrepreneurship and education could be imported to transform Kansas City

Grants and Initiatives : The Kauffman Foundation makes grants and supports initiatives in entrepreneurship and education at points where we can step into an issue and affect the lives of a great many people in a significant way for the long term

Grants fund particular projects or programs related to our focus areas The Foundation's grant making framework includes idea grants to get innovation moving, seed grants to pilot and test good ideas, and scale grants to refine and grow good programs We make sustaining grants to programs only as needed and we watch for programs that can be spun out on their own

While an individual grant may focus on a narrow piece of our work, initiatives are larger enterprises that support a broader idea or a wider field of interest As a result, a single grant, or a group of several grants, may support a single major initiative

Ewing Kauffman advised his associates to invest in people and be willing to take risks as we look for opportunities to promote positive education and accelerate entrepreneurship

3 FOUNDATION AT A GLANCE ATTACHMENT D Ewing Marion Kauffman Foundation ATTACHMENT TO PART XV - SUPPLEMENTARY INFORMATION For the Year Ended December 31, 2010 in America Through our activities we look for ways to advance promising programs by leveraging our grants to bring additional funding and resources to worthy endeavors

The Kauffman Foundation does not use a grant application form or formal application process We do not have proposal deadlines or established funding limits We have not established maximum or minimum dollar amounts Grant sizes range from a few thousand to several million dollars, depending on the size of the organization and the scope of the project

Geographic Areas for Funding : The Kauffman Foundation only funds programs within the United States The bulk of our education grants go to organizations within the Kansas City metropolitan area The Kauffman Foundation's entrepreneurship efforts fund programs and activities nationally, including within the Kansas City area

Our Grant Review Process : The route a grant proposal takes through the Foundation depends on the size of the grant, how closely it aligns with the Foundation's goals, and whether funding is available

Unsolicited Proposals : Organizations that work in the Kauffman Foundation's two areas of interest are welcome to apply for funding However, we are only able to fund a small number of the proposals received each year We strive to respond to all letters of inquiry and applications for funding

The Kauffman Foundation generally does not fund: • Requests from individuals, political, social, or fraternal organizations • Endowments, arts, or international programs • Loans, start-up expenses, or seed or other capital funding for private businesses or scholarships requested by individuals • Institutions that discriminate on the basis of race, creed, gender, national origin, age, disability or sexual orientation in policy or in practice • Programs in furtherance of sectarian religious activities, impermissible lobbying or legislative activities, or political activity • Programs targeted for people with specific physical, medical or psychological conditions, • Medical research or profit-oriented enterprises

4 FOUNDATION AT A GLANCE ATTACHMENT D 2010 Scholarship Payments Scholarship Recipient's Name Amount Abner, Clayton $ 20,107 Anderson, Ashley $ 3,688 Banks , Cortlin $ 6,552 Barbee, Rachel $ 7,353 Berry, Scott $ 3,737 Berry, Whitney $ 7,010 Bey, Drew $ 13,785 Boyce, Alyssa $ 10,771 Brooks, Tanisha $ 13,849 Campbell, Brittany $ 22,185 Carter, Jamesia $ 17,445 Chambers, Jessica $ 13,871 Chaney, Ronald $ 22,754 Charles, Jessica $ 23,871 Clopton, Chelcee $ 12,057 Coleman, Cierra $ 16,285 Davis, Helena $ 17,499 Donahue, Aubnonna $ 12,716 Egans, Byron $ 13,866 Fennix, Jeffery $ 19,644 Flores, Jesus $ 2,643 Forbush, Keyona $ 1,630 Ford, Jarvis $ 4,778 Ford, Leroy $ 22,950 Forrest, Kristin $ 6,783 France, Nicole $ 9,706 Gay, Anthony $ 16,272 Gaye, Waylon $ 12,497 Gorius, Michael $ 15,383 Haltom, Cameron $ 17,425 Hamby, Rashane $ 12,645 Handy, Jacob $ 7,931 Harnson, LeAnn $ 22,604 Harvey, Shakeshia $ 12,628 Hernandez, Jesus $ 3,001 Herron, Kenneth $ 23,097 Hervey, Rayonica $ 11,650 Hodge, Trenton $ 5,508 Hollinshed, Jeffrey $ 3,001 Jackson, Arianna $ 27,996 Jackson, Phillip $ 660 Jones, Tiffiny $ 26,663 Lasley, Jamone $ 8,326 Lee, Jakara $ 9,907 Lee, Raynard $ 2,494 Long, Kalub $ 2,150 Love, Dekiyra $ 30,051 Lucky, Sparkle $ 3,288 Lumpkin, Jeremy $ 8,466 Manning, Ga'Quawna $ 10,084 Martinez, Rene $ 3,539 Moore, Ivan $ 3,804 Nunez, Cecilia $ 16,308

Attachment E Ortiz, Cristina $ 4,081 Parker, Sade $ 24,315 Perez, Yessenia $ 4,129 Peterson, Earl $ 8,618 Peterson, Jalexis $ 5,799 Pierre, Jessyca $ 11,763 Pizano, Maricela $ 14,836 Ponce, Alfinio $ 5,743 Proctor, Destinee $ 10,648 Puryear, Michaela $ 11,635 Ramirez, Christopher $ 6,827 Ramos, Atenas $ 7,056 Ray, LaVetra $ 18,505 Reyes, Imelda $ 13,716 Reynolds, Jade $ 29,283 Ricketts, Tasha $ 20,344 Robinson, Patrick $ 10,860 Ross, Ronald $ 7,510 Saldivar, Xochitl $ 33,176 Sanders, Alisha $ 13,015 Santacruz, Cecilia $ 17,643 Simmons, Anana $ 12,474 Slater, Porshauna $ 26,217 Smith, Latisha $ 10,251 Smith, Montapa $ 3,797 Smith, Pebble $ 13,315 Soto, Brayan $ 4,830 Starr, Jasmine $ 3,805 Super, TeEra $ 12,666 Swinney, Thierry $ 11,818 Sykes, Kandias $ 14,779 Thames, Jene $ 4,925 Themes, Jene $ 300 Thompson, LaRon $ 37,289 Townsend, Antone $ 4,343 Traylor, Vonnchet $ 12,348 Udokwu, Ahamefule $ 11,565 Verner-Wright, Danzell $ 3,001 Vogel, Jessica $ 941 Webb, Derrell $ 10,683 Webb, Pearl $ 12,212 White, Lawrencia $ 902 Williams, Ashley $ 6,143 Williams, Hassan $ 6,947 Williams, Ronald $ 27,837 Williams, Skylar $ 7,594 Willingham, Marshonda $ 28,861 Wright, Naandie $ 12,334 Young, Lashonda $ 3,001 Zhou, Xiao $ 8,584 Remaining Funds for Future Years $ 11,826 Scholarship Payments made by ACT (See Attachment 20-23 , 20091224) $ 1,250,000

Attachment E Ewing Marion Kauffman Foundation EIN 43-6064859 ATTACHMENT TO PART II - BALANCE SHEET, LINE 1 Oc - INVESTMENTS - CORPORATE STOCK For Year Ended December 31, 2010

Security Name PY Base Total Cost Base Total Cost Base Market Value Open Trade Purchases ( 10,185,813) (7,331,989) (7,382,452) Open Trade Sales 40,890 ,459 24,466,829 24 ,489,228 Other Open Trades 707 4, 018 (1,128,627) SEE ATTACHMENT 9 30,705 ,353 17 ,138,858 15 , 978,149

ATTACHMENT F Ewing Marion Kauffman Foundation EIN 43-6064859 ATTACHMENT TO PART II - BALANCE SHEET, LINE 10c- INVESTMENTS - CORPORATE BONDS For the Year Ended December 31. 2010

Security Name PY Base Total Cost Base Total Cost Base Market Value 317505UK9 OTC USD SWAPTION (16,80000) - - 317505UK9 SWAPTION (31.44500) - - 317506YC1 SWAPTION (32,150 00) - - 317U204B2 IRO USD SWAPTION (7,916 85 - - 317U325B6 SWAPTION DUB 1 OYR (9,300 00) - - 317U326B5 SWAPTION DUB 10Y (11,000 00) - - 317U383B5 SWAPTION IRO USD 7YC (11,620 00) - - 317U384134 IRO USD 7Y C 2 8000 (5,700 00) - - 317U389139 IRO USD 7Y P 4 0 (6,020 00) - - 317U395B1 IRO USD 7Y GLM SWPTN (6,360 00) - - AMERICAN EXPRESS CR CORP 315,90900 - - AMERICAN INTL GROUP 200,00000 - - AMERICAN INTL GROUP INC 497,245 00 - - BANC AMER MTG SECS INC 47,837 31 - - BARCLAYS BK PLC 100,000 00 - - BARCLAYS BK PLC 297,981 00 - - BEAR STEARNS ARM TR 229,389 15 - - BEAR STEARNS ARM TR 65,971 69 - - BEAR STEARNS ARM TR 114,88467 - - BSARM 2005 2 A2 75,522 35 - - CATALYST PAPER CORP - 519,702 50 489,157 50 CITIGROUP MTG LN TR 89,204 73 - - CITIGROUP MTG LN TR 104,210 49 - - CWALT ALTERNATIVE LN TR 427,851 59 - - CWMBS INC 87,009 39 - - EQUITY ONE ABS INC 47,928 29 - - FANNIE MAE 65,321 24 56,703 98 59,818 76 FANNIE MAE 27,814 30 24,341 22 25,780 49 FEDERAL HOME LN MTG CORP 15,404 99 12,979 32 13,630 20 FEDERAL HOME LN MTG CORP 4,221 02 4,221 02 3,93600 FEDERAL NATL MTG ASSN GTD 62,449 11 52,585 11 55,039 50 FNMA TBA AUG 30 SINGLE FAM (1,17504) - - FNMA TBA JUN 30 SINGLE FAM (1,490 95) - - FORD MTR CR CO 400,000 00 - - GNMA I TBA AUG 30 SINGLE FAM 1,022 84 - - GNMA I TBA SEP 30 SINGLE FAM (713 89) - - GS MTG SEC CORP 252,914 64 - - J P MORGAN CHASE COML MTG SECS 73,579 69 - - LSI OPEN POSITION NET ASSET 38,451 08 38,451 08 18,072 01 MERRILL LYNCH + CO INC 283,695 00 - - MET LIFE GLOB FUNDING I 500,000 00 - - MORGAN STANLEY CAP I TR 70,503 91 - - NEW YORK LIFE GLOBAL FDG 299,472 00 - - NORSKE SKOF CDA LTD 519,702 50 - - RALI SER 2006 006 TR 162,975 77 - - RESIDENTIAL REINS 2007 LTD 400,000 00 - - ROYAL BK SCOT GRP 141,234 96 - - SANTANDER PERP S A UNIPERSONAL 400,000 00 - - SDB402835 TRS USD P V 03MLIBOR (74,999,018 02) 74,999,018 02 SDB402835 TRS USD R E - 74,999,018 02 83,448,419 35 SWAP BARCLAYS BOC (590,000 00) - - SWAP BNP PARIBAS BOC (270,000 00) - - SWAP GOLDMAN COC 2,320,000 00 1,310,000 00 1,310,000 00 SWAP UBS BOC (90,000 00) - - SWP043581 IRS EUR P V OOMFCPET (507,939 73) - - SWP043581 IRS EUR R F 2 14550 507,93973 - - SWP043706 IRS EUR P V OOMFCPET ( 1,272,531 85) - - SWP043706 IRS EUR R F 2 09000 1,269,849 33 - - SWP084775 IRS EUR P V OOMFCPET (1,585,799 69) - - SWP084775 IRS EUR R F 1 98750 1,565,799 69 - - SWP085400 IRS EUR P V OOMFCPET (1,011,719 51) - - SWP085400 IRS EUR R F 2 09500 1,011,719 51 - -

ATTACHMENT G Ewing Marion Kauffman Foundation EIN 43-6064859 ATTACHMENT TO PART II - BALANCE SHEET, LINE 10c- INVESTMENTS - CORPORATE BONDS For the Year Ended December 31, 2010

Security Name PY Base Total Cost Base Total Cost Base Market Value SWPO86192 IRS EUR P V OOMFCPET (888,754 59) - - SWP086192 IRS EUR R F 2 02750 888,754 59 - - SWP091770 IRS EUR P V OOMFCPET (2,158,743 87) - - SWP091770 IRS EUR R F 2 04000 2,158,743 87 - - SWPC359D6 CDS USD P F 5 00000 (188,000 00) - - SWPC359D6 CDS USD R V 03MEVENT 196,956 11 - - SWPC501 C5 CDS USD P F 1 00000 (2,281,600 00) - - SWPC501 C5 CDS USD R V OOMEVENT 2,339,005 56 - - SWPC503C3 CDS USD P F 60000 (290,400 00) - - SWPC503C3 CDS USD R V 03MEVENT 307,436 34 - - SWPC958D1 CDS USD P F 5 00000 94,000 00) - - SWPC958D1 CDS USD R V 03MEVENT 98,921 94 - - SWU091626 IRS BRL P V OOMBRCDI (817,279 63) - - SWU091626 IRS BRL R F 11 60000 825,35026 - - TOBACCO SETTLEMENT FIN AUTH WE 94,00000 - - UNITED STATES TREAS 513,46655 - - UNITED STATES TREAS BDS 717,85472 - - UNITED STATES TREAS NTS 102,16229 - - WACHOVIA BK COML MTG TR 217,307 42 - - WATERFORD WEDGWOOD 582,618 59 - - WENDEL INVESTISSEM 37 348 49 - - 10,006,482 2,018,984 10,424,836

ATTACHMENT G AMENDED BYLAWS OF EWING MARION KAUFFMAN FOUNDATION A Missouri Nonprofit Corporation (the "Corporation")

(Adopted on September 3, 2003) (Amended on as of September 2, 2010)

PREAMBLE

As an entrepreneur, Ewing Marion Kauffman felt strongly about the value of entrepreneurship as a means to help individuals gain economic independence and as the best way to create jobs and wealth in society As a philanthropist, Mr Kauffman believed that people, not money, solve problems and that the resources of the Ewing Marion Kauffman Foundation should be dedicated primarily to helping individuals and organizations seeking to address the underlying causes of those problems

Mr Kauffman stated his intent that the Foundation have a national focus coupled with an enduring interest in his beloved Kansas City He wanted the Foundation to study, support, and advance entrepreneurship in America, particularly those entrepreneurs creating high-growth companies He also expressed his desire for the Foundation to analyze the challenges children face in becoming productive citizens and to invest in innovative ideas to meet those challenges, particularly with regard to youth education The Board of Trustees reaffirms its commitment to honoring and implementing these desires of our founder and dedicating the Foundation's resources to these purposes, including substantial financial expenditures in and for the benefit of the Kansas City area consistent with the Foundation's history

Finally, Mr Kauffman wished that the values he held so dear, and that he firmly believed accounted for his success, might be observed and disseminated as part of his Foundation's philanthropy Those principles are (1) all people are to be treated with respect, (2) those contributing to success should share in the rewards, and (3) everyone should find a way to give back to society

Those were the intentions and goals of Mr Kauffman for his Foundation and to which the members of the Board of Trustees are dedicated In honoring his memory, the Trustees are committed further to the following principles

• That the Foundation be governed and operated as an entrepreneurial organization, taking informed risks while seeking the maximum return on ideas and financial commitments

• That the Foundation be governed and operated in accordance with high standards of achievement, integrity, openness, objectivity, courtesy, and respect

• That the members of the Board of Trustees at all times keep uppermost in their minds the welfare of the Foundation, the excellence and efficacy of its programs, and the preservation and growth of its assets

• In recognition of his inability to foresee the future and the changing needs of society, Mr Kauffman gave specific instructions to future board members that they are to stay abreast of these changing needs and adjust the work of the foundation to them This is a solemn responsibility which does not suggest that future trustees move away from the areas initially designated as priorities easily or without serious study and reflection

ATTACHMENT H ARTICLE I BOARD OF TRUSTEES

Section 1 1 Board of Trustees The business and affairs of the Corporation shall be managed by its Board of Trustees

Section 1 2 Number of Trustees The Board hereby establishes ten (10) as the number of Trustees that comprise the Board The phrase "Trustees in office" as used in these Bylaws shall refer to the members of the Board of Trustees who are serving on the Board at the time a decision or action is made

Section 1 3 Classes of Trustees The Trustees shall be divided into three (3) classes for the purpose of staggering their terms of office Each class shall be, as nearly as possible, equal in number to every other class, and newly created Trusteeships or any change in the number of Trusteeships shall be apportioned so as to preserve, as nearly as possibly, an equal number of Trustees in each class

Section 1 4 Nomination and Election Trustees may be nominated for election by the Committee on Trustees or from the floor at a meeting of the Board and may be elected to the Board only by the affirmative vote of a majority of the Trustees in office The resolution of the Board by which Trustees are elected or by which vacancies are filled shall state the class that the Trustee is joining, the date on which the Trustee's term begins and expires, and, if filling a vacancy, the name of the person whose term the new Trustee is completing

Section 1 5 Term Each Trustee shall hold office from the time of election until the third annual meeting following his or her election and until the election of his or her successor, except that the term of a Trustee elected to fill a vacancy shall end on the same date as the other Trustees in the class to which he or she is elected The term of a Trustee shall end automatically upon his or her death, adjudicated incapacity, or removal

Section 1 6 Term Limit Trustees may succeed themselves in office, except that a Trustee who has served three (3) consecutive full terms shall not be eligible for re-election to the Board until the annual meeting in the year after the year of expiration of his or her third consecutive term

Section 1 7 Resignation A Trustee may resign at any time by giving written notice to the Chair, President, or Secretary, provided that such notice may not be given to oneself The resignation shall be effective immediately upon delivery of the notice specified above or at such later time during the Trustee's remaining term as he or she shall specify in the notice Acceptance of the resignation shall not be necessary to make it effective

Section 1 8 Removal Any Trustee may be removed, with or without cause, by action of at least two-thirds of the Trustees in office

Section 1 9 Vacancies In the event of a Trustee's death, adjudicated incapacity, resignation, or removal, a majority of the remaining Trustees may fill the resulting vacancy, whether or not the remaining Trustees constitute a quorum The Board shall fill such vacancies within six (6) months

Section 1 10 Annual Meeting The annual meeting of the Board shall be held during the first three months of the Corporation's fiscal year at such time and in such place as shall be designated by the Chair, the President, or a majority of the Trustees in office The annual meeting shall be held for the purpose of (a) electing Trustees to the class of Trustees with

ATTACHMENT H a term that expires at the meeting, (b) electing the chairs and members of standing committees, and (c) transacting such other business as may properly come before the meeting

Section 1 11 Regular Meetings Regular meetings of the Board shall be held at such times and in such places as shall be designated at the annual meeting by the Chair, the President, or a majority of the Trustees in office There shall be no fewer than three (3) regular meetings during the period between annual meetings Regular meetings shall be held for the purpose of transacting such business as may properly come before the meeting

Section 1 12 Special Meetings Special meetings of the Board shall be held at such times and in such places as shall be designated by the Chair, the President, or a majonty of the Trustees in office

Section 1 13 Notice Written notice of each meeting of the Board shall be made by facsimile transmission, electronic mail, U S Postal Service, overnight courier service, or hand delivery not less than three (3) business days before the meeting to the last known facsimile number, electronic mail address, or mailing address for each Trustee Notice of each meeting shall state the time, date, and place thereof Except as provided in Section 6 1, neither the business to be transacted at, nor the purpose of, any meeting need be specified in the notice thereof or any waiver of notice

Section 1 14 Effective Date of Notice Written notice in proper form shall be effective on the earliest of the following when received, when receipt is documented by a successful facsimile or electronic mail transcript, the fifth (5th) day after deposit with the U S Postal Service with postage prepaid if sent by first class mail, on the date of the signed receipt if sent by registered or certified mail, or on the first business day following the date of dispatch if sent by overnight courier service

Section 1 15 Waiver Whenever notice is required by law or under any provision of the Articles of Incorporation or these Bylaws, a waiver thereof must be in writing, signed by the Trustee or Trustees entitled to the notice, and filed with the minutes or other records of the Corporation A Trustee's attendance at or participation in a meeting waives any required notice of the meeting, unless the Trustee upon arriving at the meeting or prior to the vote on a matter not noticed in conformity with applicable law, the Articles of Incorporation, or these Bylaws objects to the lack of notice and does not vote for or assent to the action to which he or she objects by reason of such lack of notice

Section 1 16 Quorum and Telephonic Participation A majority of the Trustees in office immediately before a meeting begins shall constitute a quorum for the transaction of business at any meeting of the Board, unless a greater portion is required by law Participation by one or more Trustees by means of technology such that all persons participating in any meeting of the Board are able to hear each other at the same time and be heard shall constitute presence at such meeting Such participation is not preferred and should not be relied on regularly

Section 1 17 Action of the Board at a Meeting Except as otherwise required by law or under any provision of the Articles of Incorporation or these Bylaws, the vote of a majority of the Trustees present at the time of the vote, if a quorum is present, shall be the act of the Board Each Trustee shall have one vote Voting by proxy shall not be permitted

Section 1 18 Action by Written Consent Any action required or permitted to be taken at any meeting of the Board may be taken without a meeting if all of the Trustees without a conflict of interest consent in writing to the adoption of a resolution authorizing such action The consents shall have the same force and effect as a unanimous vote of the Trustees at a meeting duly held and may be stated as such in any certificate or document Such action and written consents thereto shall be filed with the minutes of the meetings of the Board

ATTACHMENT H Section 1 19 Compensation of the Board The Trustees may receive reasonable compensation for their Board and committee service, as determined by the Board from time to time

Section 1 20 Appointment of the Chair The Board shall elect a Chairperson who shall hold office until the third annual meeting following his or her election and until the election of his or her successor, except that the term of a Chair elected to fill a vacancy shall end consistent with the term being filled, unless the Board votes to extend the Chair's term to coincide with the Chair's term as a trustee No chair shall serve more than two (2) consecutive full terms as Chair, unless the Board in its discretion decides that a Trustee elected or re-elected as Chair during his or her second term should have his or her term as Chair coincide with his or her final term as a Trustee

Section 1 21 Role of the Chair The Chair shall preside at all meetings of the Board and, subject to the control of the Board, shall provide leadership to the Board and coordinate the Board in its annual evaluation of the President At the commencement of each term of the Chair (unless it is a partial term), the Chair shall nominate a Trustee member of each committee to serve as chair of that committee until the next annual meeting of the Board, and if during the Chair's term there are Trustee vacancies on any committee, the Chair shall nominate Trustees to fill such vacancies Such nominations shall be made upon consultation with the President In the absence of the Chair, the chair of the Committee on Trustees shall preside at meetings of the Board, and in the absence of the chair of the Committee on Trustees or if the Board Chair and the chair of the Committee on Trustees are the same person and he or she is absent, the chair of the Compensation Committee shall preside at the Board meeting

Section 1 22 Place of Meetings Meetings of the Board or any committee may occur within or without the State of Missouri

Section 1 23 Headquarters The headquarters of the Corporation shall be located in greater Kansas City, Missouri Notwithstanding the provisions of Section 6 1, relating to amendments to Bylaws generally, this Section 1 23 may be amended only (a) by the affirmative vote of at least seventy-five percent (75%) of the Trustees in office, provided the motion to amend the Bylaws is so approved at two consecutive, regular, quarterly meetings of the Board, or (b) by the unanimous vote of the Trustees in office The provisions of Section 6 1 relating to notice of the meeting at which a proposed amendment to the Bylaws is to be considered shall apply to meetings at which any change to this Section 1 23 is to be considered as well

Section 1 24 Powers Reserved to the Board Notwithstanding any other provision of the Bylaws, prior approval of the Board or a Committee with authority expressly delegated from the Board is required before the Foundation may engage in the following merging with another entity, selling, pledging or transferring all or a significant portion of the Foundation's assets, acquiring another entity, authorizing the annual budget, establishing the Foundation's strategic direction or material variances from it, filing for bankruptcy, terminating the Foundation's existence, allocating investments among investment classes, making specific investment decisions or delegations, acquiring real estate, substantially reducing or increasing staff, and hiring, setting compensation for, firing, and evaluating the performance of the President/Chief Executive Officer The President is authorized to file lawsuits and pursue other claims on behalf of the Foundation, but the President should notify the Board of such suits and claims

ATTACHMENT H ARTICLE II COMMITTEES

Section 2 1 Designation There shall be an Audit and Financial Controls Committee, an Investment Committee, a Compensation Committee, and a Committee on Trustees, each of which shall be a standing committee By vote of a majority of the Trustees in office, the Board may designate such other committees as it from time to time deems appropriate Committees may be designated for such purpose or purposes as the Board deems appropriate and may be designated as standing or ad hoc committees No committee may exercise the authority of the Board in the management of the Corporation, except that the Investment Committee may exercise the authority of the Board insofar as specifically set forth in these Bylaws, the Charter of the Investment Committee, or the Investment Policy An ad hoc committee may be designated as an "ad hoc committee" or as a "task force," as the Board shall determine

Section 2 2 Membership of Standing Committees Each standing committee shall consist of at least three members Every member of a standing committee shall be a Trustee, except that up to twenty-five percent (25%) of the members of the Audit and Financial Controls Committee may be non-Trustees The membership of each standing committee shall be elected by the Board

Section 2 3 Membership of Ad Hoc Committees Each ad hoc committee shall consist of at least three members A majority of the members of each ad hoc committee shall be Trustees The membership of each ad hoc committee shall be elected by a majority of the Trustees in office

Section 2 4 Committee Memberships of the Chair and the President Each of the Chair and the President shall be a member ex officio of each committee and shall be eligible for election to each committee, subject in all events to the following exceptions and limitations

(a) The President shall not be eligible for election to, nor permitted to serve ex officio as a member of, the Audit and Financial Controls Committee or the Committee on Trustees

(b) Neither the Chair nor the President shall be entitled to vote on the Compensation Committee's recommendation concerning his or her own compensation as Chair or President, as the case may be

(c) Unless the Chair is ineligible for re-election as Chair, he or she shall not be entitled to vote on the nomination for Chair made by the Committee on Trustees

Section 2 5 Committee Chairs Each committee shall be chaired by a Trustee, and each committee chair shall be eligible to serve multiple consecutive terms as chair The chair of each committee shall be elected by a majority of the Trustees in office The Chair of the Investment Committee shall be elected for a term to expire at the third annual meeting following his or her election and until the election of his or her successor, such term may be renewed for an additional term and may be renewed again if desirable

Section 2 6 Term Unless a shorter term is specified at the time of election, the term of each committee member who is a Trustee shall end on the same date as his or her term as Trustee, and the term of each non-Trustee committee member shall continue for one year from the date of election

Section 2 7 Term Limit A committee member who is a Trustee shall be subject to no term limit other than the limit on his or her term as Trustee A non-Trustee committee

ATTACHMENT H member may serve no more than nine (9) consecutive one-year terms on a committee Notwithstanding the foregoing, no committee member shall serve more than nine (9) consecutive years on the same committee

Section 2 8 Powers and Responsibilities Each committee shall report to the full Board and shall have only such powers and responsibilities as the Board shall assign, whether by express provision of these Bylaws, committee charter, or resolution adopted by the Board No committee may appoint or engage consultants or advisors without the advance approval of the Board, provided, however, that the Audit and Financial Controls Committee need not obtain such advance approval if its membership includes at least three Trustees and they agree by majority vote to engage a consultant or advisor No such consultant or advisor shall be treated as a committee member for any purpose A policy developed by a committee shall be a proposal until such time as it is adopted by the Board, unless the Board has expressly authorized the committee to develop, adopt, and implement the policy Each committee shall exercise its powers in accordance with the policies from time to time adopted by the Board and in accordance with those policies of the committee which the committee has adopted pursuant to express authority granted by the Board

Section 2 9 Procedures Sections 1 7 through 1 19 of these Bylaws shall also apply to committees, with the word "committee" being substituted in each instance for the word "Board" and the phrase "committee member" or "committee members" being substituted in each instance for the word "Trustee" or "Trustees," as the case may be, subject to the following exceptions

(a) Notice of a committee member's resignation may be delivered to the Chair, President, Secretary, or committee chair, provided that such notice may not be given to oneself,

(b) A committee member may be removed, with or without cause, by action of at least two-thirds of the Trustees in office,

(c) In the event of a committee member's death, adjudicated incapacity, resignation, or removal, the vacancy shall be filled, if at all, by a majority of the Trustees in office,

(d) There shall be no requirement for an annual meeting of a committee,

(e) The time, date, and place of a committee's meetings shall be determined by the committee chair or a majority of the committee members in office, and

(f) subject to the provisions of Section 2 4, an ex officio member of a committee shall be entitled to notice of its meetings and to attend and vote at its meetings but shall not be obligated to attend its meetings nor be counted to determine the number of members necessary to make a quorum or to determine whether a quorum is present

Section 2 10 Audit and Financial Controls Committee The Audit and Financial Controls Committee shall recommend annually to the Board a budget for the Corporation, shall oversee the quality and integrity of the Corporation's budgeting, accounting, internal auditing, and reporting practices, shall have and exercise insofar as it is a committee of the Board all powers of the Board with respect to the custody of the Corporation's funds and securities, and shall advise the Board on the selection and retention of the Corporation's independent auditors In furtherance of the foregoing, the Audit and Financial Controls Committee shall make recommendations to the Board from time to time for appropriate policies concerning audit and

6 ATTACHN ENT H financial control matters, including without limitation a policy concerning levels of expenditure authority

Section 2 11 Investment Committee The Investment Committee shall oversee the investments of the Corporation and, except as prohibited by law, shall have and exercise, insofar as it is a committee of the Board, all powers of the Board with respect to the investment of the Corporation's funds and securities In furtherance of the foregoing, the Investment Committee shall make recommendations to the Board from time to time on appropriate philosophies and policies concerning investments

Section 2 12 Compensation Committee Periodically but no less than every five years, the Compensation Committee shall recommend to the Board appropriate levels of compensation for Trustees, the Chair, committee chairs, and non-Trustee committee members and for such executive officers as the Board shall designate In furtherance of the foregoing, the Compensation Committee shall make recommendations to the Board from time to time on appropriate philosophies and policies concerning compensation and benefits

Section 2 13 Committee on Trustees Periodically but no less than every five years, the Committee on Trustees shall evaluate and report to the Board concerning the governance of the Corporation, shall conduct a review and compliance audit with respect to these Bylaws and the policies of the Board, and shall maintain a written record of the policies of the Board In furtherance of the foregoing, the Committee on Trustees shall develop plans for Board succession, training and evaluation, make nominations to the Board, evaluate the performance of the Chair and make an annual nomination for the position of Chair, and recommend to the Board appropriate philosophies or policies concerning governance or any other matter pertaining to the work of the Board In furtherance of the Foundation's presence in and commitment to the Kansas City area, the Committee is charged with responsibility for the Board's goal that at least one-third of the Trustees have and maintain connections with the Kansas City area

ARTICLE III OFFICERS

Section 3 1 Officers The officers of the Corporation shall be a President, a Treasurer, a Secretary, and such other officers as the Board may elect Any two or more offices may be held by the same person, except the offices of President and Secretary The President shall report to the Board, and all other officers shall report to the President

Section 3 2 Appointment and Term of Office Officers shall be elected by the Board, and each officer shall serve until his or her successor shall be elected or until his or her earlier death, adjudicated incapacity, resignation, or removal Appointment as an officer shall not in itself create contract rights

Section 3 3 Resignation An officer may resign at any time by giving written notice to the Chair, President, or Secretary, provided that such notice may not be given to oneself The resignation shall be effective immediately upon delivery of the notice specified above or at such later time during the officer's remaining term as he or she shall specify in the notice Acceptance of the resignation shall not be necessary to make it effective

Section 3 4 Removal Any officer may be removed, with or without cause, by the Board The removal shall be effective immediately but shall not affect such officer's contract rights, if any, with respect to the Corporation

Section 3 5 President The President shall be the chief executive officer of the Corporation and shall have general charge of the business and affairs of the Corporation, subject to the authority of the Board Except as otherwise prohibited by law, any provision of these

7 ATTACHMENT H Bylaws, or any resolution or policy adopted by the Board, the President may execute all bonds, notes, debentures, mortgages, and other contracts requiring a seal under the seal of the Corporation, may cause the seal to be affixed to such documents, may execute all other contracts and instruments for and in the name of the Corporation, may vote the shares or other securities of any other domestic or foreign corporation of any type or kind which may at any time be owned by the Corporation, may execute any shareholders' or other consents in respect thereof, and may delegate such powers by executing proxies, or otherwise, on behalf of the Corporation In the absence of the President, or in the event of his or her inability or refusal to act, the Board may designate another officer of the Corporation to act as President on an interim basis The President shall reside in the Kansas City area or commit to so residing within a reasonable time of becoming President

Section 3 6 Intentionally omitted

Section 3 7 Treasurer The Treasurer shall have charge and custody of and be responsible for all funds and securities of the Corporation, receive and give receipts (or delegate a custodian to give receipts) for moneys due and payable to the Corporation from any source whatsoever, deposit all such moneys in the name of the Corporation in such banks, trust companies or other depositories as the Board shall authorize in accordance with Article IV, maintain a permanent record of all disbursements made by the Corporation, and in general, perform all the duties incident to the office of Treasurer and such other duties as from time to time may be assigned to him or her by the President

Section 3 8 Secretary The Secretary shall keep the minutes of the meetings of the Board in one or more books provided for that purpose, see that all notices are duly given in accordance with the provisions of these Bylaws or as required by law, be custodian of the records and seal of the Corporation and see that the seal of the Corporation is affixed to all documents the execution of which on behalf of the Corporation under its seal is duly authorized in accordance with the provisions of these Bylaws, and in general, perform all the duties incident to the office of Secretary and such other duties as from time to time may be assigned to him or her by the President

Section 3 9 Assistant Treasurers and Assistant Secretaries The Assistant Treasurers and Assistant Secretaries shall perform such duties as shall be assigned to them by the Treasurer or the Secretary, as the case may be, or the President

Section 3 10 Bond If required by the Board, the Treasurer and the Assistant Treasurers shall give a bond for the faithful discharge of their duties, in such sum and with such surety or sureties as the Board shall determine

Section 3 11 Compensation of Officers Officers shall receive reasonable compensation for their service as officers, as determined by the Board from time to time

ARTICLE IV Contracts . Loans . Checks, Deposits , Custodians, Seal

Section 4 1 Contracts The Board may authorize any officer or officers, agent or agents, to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Corporation, and such authority may be general or confined to specific instances

Section 4 2 Loans No loans shall be contracted on behalf of the Corporation and no evidences of indebtedness shall be issued in its name unless authorized by a resolution of the Board Such authority may be general or confined to specific instances

8 ATTACHMENT H Section 4 3 Checks, Drafts, Etc All checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Corporation shall be signed by such officer or officers, agent or agents of the Corporation and in such manner as shall from time to time be determined by resolution of the Board

Section 4 4 Deposits All funds of the Corporation shall be deposited from time to time to the credit of the Corporation in such banks, trust companies or other depositories as the Board may select

Section 4 5 Custodians The Board may from time to time designate, on such terms as it shall determine, one or more banks, trust companies, or other depositories as custodian(s) of all funds and properties of the Corporation

Section 4 6 Seal The Board shall provide a corporate seal, which shall be in the form of a circle and shall have inscribed thereon the name of the Corporation and the words, "Corporate Seal, Missouri"

ARTICLE V INDEMNIFICATION AND INSURANCE

Section 5 1 Limitation of Liability Except as provided in Section 5 13, no person shall be liable to the Corporation for any loss, damage, liability, or expense suffered by the Corporation on account of any action taken or omitted to be taken by such person in a "Covered Capacity" (as hereinafter defined) if such person (a) exercised the same degree of care and skill as a prudent person would have exercised under the circumstances in the conduct of his or her own affairs or (b) took or omitted to take such action in reliance upon information, opinions, reports, or statements, including, without limitation, financial statements and other financial data, prepared or presented by

(1) one or more officers or employees of the Corporation whom the person reasonably believed to be reliable and competent in the matters presented,

(u) one or more officers or employees of a partnership, limited liability company, joint venture, trust or employee benefit plan, or other corporation of which the person was serving, at the Corporation's request, as a director, trustee, partner, member, officer, employee, or agent, provided the person reasonably believed such officers or employees to be reliable and competent in the matters presented,

(n) legal counsel, certified public accountants, or other advisors as to matters the person reasonably believed to be within such advisors' professional or expert competence, or

(iu) a committee of the Board upon which the person was not serving, duly designated in accordance with a provision of the Articles of Incorporation or the Bylaws, as to matters within the designated authority of the committee, if the person reasonably believed the committee merited confidence, provided that the person did not, at the time of such reliance, have knowledge concerning the matter in question that made such reliance unwarranted

Section 5 2 Indemnification Generally Except as provided in Section 5 13, the Corporation

ATTACHMENT H (a) shall indemnify any past or present Trustee who was successful, on the merits or otherwise, in the defense of any proceeding to which he or she was a party because he or she is or was a Trustee of the Corporation against reasonable expenses actually incurred by him or her in connection with the proceeding,

(b) shall indemnify any person who has served in a Covered Capacity to the full extent required by laws of the State of Missouri as in effect from time to time, and

(c) shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, investigative, or appellate (regardless of whether such action, suit or proceeding is by or in the right of the Corporation or third parties), by reason of the fact that such person is or was serving in a Covered Capacity against all liabilities and expenses, including, without limitation, judgments, amounts paid in settlement, attorneys' fees, excise taxes or penalties, fines, and other expenses actually and reasonably incurred by such person in connection with such action, suit, or proceeding (including, without limitation, the investigation, defense, settlement, or appeal of such action, suit, or proceeding)

, provided, however, in all events that

(1) the Corporation shall not be required to indemnify any person from or on account of such person's conduct that was finally adjudged to have been knowingly fraudulent, deliberately dishonest or willful misconduct, and

(u) the Corporation shall not be required to indemnify any person in connection with an action, suit, or proceeding initiated by such person in their individual capacity, unless the initiation of such action, suit or proceeding was authorized in advance by the Board

Section 5 3 Advancement of Expenses Except as provided in Section 5 13, expenses (including, without limitation, attorneys' fees) actually and reasonably incurred by a person who may be entitled to indemnification hereunder in defending an action, suit, or proceeding, whether civil, criminal, administrative, investigative, or appellate, shall be paid by the Corporation in advance of the final disposition of such action, suit, or proceeding upon receipt of an undertaking by or on behalf of such person to repay such amount if it shall ultimately be determined that such person is not entitled to indemnification by the Corporation No such advance shall be made in any instance in which the Board or legal counsel to the Corporation reasonably determines that a person would not be entitled to indemnification hereunder

Section 5 4 Heirs, Executors, Administrators and Estates Rights of indemnification and the advancement of expenses under this Article shall survive the time during which a person served in a Covered Capacity and shall inure to the benefit of the heirs, executors, administrators, and estate of a person who served in a Covered Capacity

Section 5 5 Determination of Indemnification Any indemnification or advancement of expenses under this Article, unless ordered by a court, shall be made by the Corporation only as authorized in the specific case upon a determination that such indemnification or advancement is consistent with applicable law and these Bylaws The

10 ATTACHMENT H determination shall be made by the Board by a majority vote of a quorum consisting of Trustees who were not parties to the action, suit, or proceeding, or if such a quorum is not obtainable, or even if obtainable a quorum of disinterested directors so directs, by independent legal counsel in a written opinion

Section 5 6 Enforcement of Indemnification In the event the Corporation refuses to indemnify any person who may be entitled to be indemnified or to an advancement of expenses under this Article V, such person shall have the right to maintain an action in any court of competent jurisdiction against the Corporation to determine whether or not such person is entitled to such indemnification or advancement of expenses hereunder If such court action is successful and the person is determined to be entitled to such indemnification or advancement of expenses , such person shall be reimbursed by the Corporation for all fees and expenses (including , without limitation, attorneys ' fees) actually and reasonably incurred in connection with any such action (including, without limitation, the investigation , defense , settlement , or appeal of such action)

Section 5 7 Non-Exclusivity Except as provided in Section 5 13, the indemnification and the advancement of expenses provided by this Article V shall not be exclusive of any other rights to which a person seeking indemnification or advancement of expenses may be entitled under any statute, the Articles of Incorporation, these Bylaws, any agreement, any vote of disinterested Trustees, any policy of insurance, or otherwise, as to any action in a Covered Capacity or otherwise and shall not limit in any way any right that the Corporation may have to make additional indemnifications with respect to the same or different persons or classes of persons

Section 5 8 Insurance The Corporation may purchase and maintain insurance on behalf of any person on account of any action taken or omitted to be taken by such person in a Covered Capacity, against any liability asserted against such person and incurred by such person in a Covered Capacity, or arising out of such person's status in a Covered Capacity, whether or not the Corporation would have the power to indemnify such person against such liability under the provisions of this Article V or otherwise

Section 5 9 Vesting of Rights The rights granted or created under this Article V shall be vested in each person entitled to indemnification hereunder as a bargained-for, contractual condition of such person 's serving or having served in a Covered Capacity Although this Article V may be amended or repealed , no such amendment or repeal shall release, terminate , or adversely affect the rights of such person under this Article V with respect to any act taken or the failure to take any act by such person prior to such amendment or repeal or with respect to any action , suit, or proceeding with respect to such act or failure to act filed before or after such amendment or repeal

Section 5 10 Definition of "Covered Capacity" A person shall serve in a "Covered Capacity" insofar as he or she serves as a Trustee, officer, agent, or employee of the Corporation or, at the Corporation's request, as a director, trustee, partner, member, officer, employee, or agent of any partnership, limited liability company, joint venture, trust or employee benefit plan, or other corporation Unless the Board shall determine otherwise, any Trustee or officer of the Corporation who shall serve as a director, Trustee, partner, member, officer, employee, or agent of any partnership, limited liability company, joint venture, trust or employee benefit plan, or other corporation of which the Corporation, directly or indirectly, is a member, shareholder, or creditor, or in which the Corporation is in any way interested, shall be presumed to be serving as such at the request of the Corporation In the absence of this presumption, the Board shall determine whether a person is or was serving at the request of the Corporation, and it shall not be necessary to show any actual or prior request for such service The Board's determination shall be final and binding on the Corporation and the person seeking indemnification or advancement of expenses Employees of the Corporation shall include those individuals employed by the Corporation and commonly designated as "Associates "

11 ATTACHMENT H Section 5 11 Definition of "Corporation" For purposes of this Article V only, the term Corporation shall refer (a) to the Ewing Marion Kauffman Foundation and (b) if and only if the Board shall determine, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if the separate existence of such corporation had continued, would have had power and authority to indemnify its directors, officers, employees, or agents, or persons serving at the request of such constituent corporation as a director, Trustee, partner, member, officer, employee, or agent of any partnership, limited liability company, joint venture, trust or employee benefit plan, or other corporation, such that each such person shall stand in the same position under this Article V with respect to the Ewing Marion Kauffman Foundation as he or she would have stood with respect to such constituent corporation if its separate existence had continued

Section 5 12 Definition of "Defense " References to "defense" in this Article V shall include investigations of any threatened , pending, or completed action , suit, or proceeding as well as appeals thereof and shall include any defensive assertion of a cross-claim or counterclaim

Section 5 13 Tax Law Limitations No provision of this Article V shall permit or require indemnification or advancement of expenses insofar as such indemnification or advancement would constitute an "act of self-dealing " within the meaning of Section 4941(d) of the Internal Revenue Code of 1986, as amended , (the "Code") or a "taxable expenditure" within the meaning of Section 4945 (d) of the Code

Section 5 14 Severability If any provision of this Article V or the application of any such provision to any person or circumstance is held invalid, illegal, or unenforceable for any reason whatsoever, the remaining provisions of this Article V and the application of such provision to other persons or circumstances shall not be affected thereby, and to the fullest extent possible the court finding such provision invalid, illegal, or unenforceable shall modify and construe the provision so as to render it valid and enforceable as against all persons or entities and to give the maximum possible protection to persons entitled to indemnification and advancement of expenses under this Article V, within the bounds of validity, legality, and enforceability Without limiting the generality of the foregoing, if any person who is or was serving in a Covered Capacity is entitled under the provisions of this Article V to indemnification for a portion but less than all of the liabilities and expenses, including, without limitation, judgments, amounts paid in settlement, attorneys' fees, excise taxes or penalties, fines, and other expenses actually and reasonably incurred by him or her in connection with a threatened, pending, or completed action, suit, or proceeding (including, without limitation, the investigation, defense, settlement, or appeal of such action, suit, or proceeding), whether civil, criminal, administrative, investigative, or appellate, the Corporation shall nevertheless indemnify such person for the portion thereof to which he or she is entitled

ARTICLE VI BYLAWS

Section 6 1 Amendment and Notice of Amendment These Bylaws may be amended only (a) by the affirmative vote of a majority of the Trustees in office, provided the motion to amend the Bylaws is so approved at two consecutive meetings of the Board, or (b) by the unanimous vote of the Trustees in office If an amendment is to be approved at a meeting of the Board, the notice of such meeting must state that a purpose of the meeting is to consider a proposed amendment of the Bylaws and must contain or be accompanied by a copy or summary of the proposed amendment

12 ATTACHMENT H Section 6 2 Copy of the Bylaws The Corporation shall keep at its principal office a copy of the Bylaws, as amended, which shall be open to inspection by any Trustee at all reasonable times during office hours

Section 6 3 Headings Headings within these Bylaws are provided for purposes of convenience only and shall not be taken into account for purposes of construing or interpreting these Bylaws

Restated September 3, 2003 Amended as of September 2, 2010

13 ATTACHMENT H Hogan Family Foundation -- About The Foundation Page 1 of 1

Home I About the Foundation I Founders I Directors I Contact us About the Foundation In 1959, Ed and Lynn Hogan founded Pleasant Holidays, the largest tour operator serving Hawaii With the assets from the sale of the travel company in 1998, they created the Hogan Family Foundation to pursue their philanthropic interests

Rather than retiring, the Hogans have focused their energies and interests into opportunities wherein they can give back to society, and the community in which they have worked and lived By operating educational, humanitarian and civic- minded programs, the Foundation is creating environments where the spirit of entrepreneunalism can flourish and encourage the development of a more productive and contributory society

Serving as an inspiration for young people everywhere, the Hogan legacy will be to demonstrate that through courage and compassion there is nothing that cannot be achieved

The Hogan Family Foundation is an operating foundation, meaning that it disburses its assets solely in support of those programs that the Foundation itself creates and operates While the Foundation does not give grants to charitable organizations, it instead creates ongoing programs that support worthwhile causes

The Foundation is able to accept donations specifically designated for its programs

The Foundation is a tax-exempt private operating foundation under Section 501(c) (3) of the Internal Revenue Code

http://www.hoganfoundation.org/About.cfm 11/16/2012