OMB No 1545-0052 Form 990-PF Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust ^O O Department of the Treasury Treated as a Private Foundation rater Revenue Service Note . The foundation may be able to use a copy of this return to satisfy state reporting requirements. For calendar year 2010 , or tax year beginning , and ending G Check all that apply. LJ initial return Initial return of a former public charity Final return 0 Amended return = Address change 0 Name change Name of foundation A Employer identification number WALLACE GLOBAL FUND II 80-0424607 Number and street (or P O box number if mail is not dehvered to street address) Roo-A-rte B Telephone number 1990 M STREET, NW 50 202-452-1530 City or town, state, and ZIP code C If exemption application is pending, check here ► WASHINGTON, DC 2 0 0 3 6 D 1- Foreign organizations, check here 2. Foreign organda ttac meeting the 85% test, H Check type of organization: LXJ Section 501(c)(3) exempt private foundation check here and attach computationeeting Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation E If private foundation status was terminated I Fair market value of all assets at end of year J Accounting method: L-J Cash Accrual under section 507(b)(1)(A), check here (from Part II, col (c), line 16) = Other (specify) F If the foundation is Ina 60-month termination 16 3 , 8 6 6 , 611. (Part 1, column (d) must be on cash basis) under section 507(b)(1)(B), check here Part I Ana lysis of Revenue and Expenses (d) Disbursements (The (a) Revenue and (b ) Net investment (c) Adjusted net total of amounts in columns (b), (c), and (d) may not expenses per books for chartable purposes necesseny equal the amounts in col umn (a)) income income (cash basis only) 1 Contributions, gifts, grants, etc., received N A 2 Check a the toundabonis not required to attachSch B 3 Inter on savtsings and temporary cashinvestmenest 262. S TATEMENT 1 4 Dividends and interest from securities 1,959,124. 1,959,124. S TATEMENT 5a Gross rents S TATEMENT b Net rental income or Coss) 118,091. 6a Net gain or Coss) from sale of assets not on hire, to 10 , 3 32, 06 7 . Gross sales price for b assets on line 6a all 1-64 , 286 , 356. 7 Capital gain net income (from Part IV , line 2) , , 8 Net short-term capital gain 9 Income modifications Gross sales less returns 10a and allowances b Less Cost of goods sold c Gross profit or (loss) _ . _ 11 Other income 219,505. , 5 5 . S TATEMENT 4 12 Total. Add lines 1through 1l 12,629,049. 12, 29,049. 13 Compensation of officers, directors, trustees, etc , = 21 , 1 8 7,749 14 Other employee salaries and wages 258,163. 4, 000. 247,563. 15 Pension plans, employee benefits 172, 835. 6 , 6 0 2 . 169,386. 168 Legal fees STMT 5 12, 5 7 . 21, 2 49. a b Accounting fees STMT 6 119,260. 29,815. 13 , 5 5 2. W c Other professional fees STMT 7 1,072,130. 875, 92E 11-8-08,- 16 . ENED 16 STMT 8 116, 53. 1,593. 0. L Depreciation and depletion Q 94, 36 k20 an"cy4 z011 236, 07 0. 253,949.- 4 P Travel, conferences,and r eggs 64, 9 8. 0. 8 0,849. 22-Prtn arub^lic t ris 23 o ec enss---- "" STMT 9 9 3 ,028. 1,878. 86,4 3 1. 24 Total operating and administrative C a expenses . Add lines 13 through 23 2,452,247. 941,035. 1,382,344. 0 25 Contributions, gifts, grants paid 1 0,53 1 ,502. Le^ 10,835,023. 26 Total expenses and disbursements. Addllnes24and25 . 12,983,749. 941,035. 12,2 17,367. O 27 Subtract line 26 from line 12: Z a excess of revenue over expenses and disbursements <354,700. b Net Investment income cif negative, enter -o-) 11, 688, 014.1 c Adjusted net income cu negative, enter-o-) N / A 12-07-to LHA For Paperwork Reduction Act Notice , see the Instructions . Form 990-PF (2010) 2 :51104 786783 WGFII 2010.04050 WALLACE GLOBAL FUND II WGFII_1 1 , Form 990-PF (2010) WALLACE GLOBAL FUND II 80-0424607 Page2 schedules and amounts in the description Beginning of year End of year Part II Balance Sheets 11111"Id column should be for end-el-year amounts only (a) Book Value (b) Book Value (c) Fair Market Value 1 Cash - non-interest-bearing . - 6,450. 2,276-. 2,276. 2 Savings and temporary cash investments 5,721,85 2 . 2, 2 8 4, 5 8 . 2, 2 8 4, 5 3 Accounts receivable ► 262,098. Less: allowance for doubtful accounts ► 11,207. 262,098. 262,098. 4 Pledges receivable ► Less: allowance for doubtful accounts ► 5 Grants receivable 6 Receivables due from officers, directors, trustees, and other disqualified persons 7 Other notes and loans receivable Less: allowance for doubtful accounts ► 8 Inventories for sale or use 9 Prepaid expenses and deferred charges 2 80,59T.- 20,-0-2-2. 20,022. a 1 Oa Investments - U.S. and state government obligations 20, 535, 778. b Investments - corporate stock STMT 11 10 2,898,1 47. 115,119,838. 11 5,11 9,838. c Investments - corporate bonds 11 Investments - land,buddmgs, and equipment basis ► Less accumulated depreciation ► 12 Investments - mortgage loans 13 Investments - other STMT 12 28,050, T8-67 4 5,581,498. 4 5, 5 8 9. 14 Land, buildings, and equipment basis ► 501,333. Less accumulated depreciation ► 2 35,760. 318,353. 265,573. 265,573. 15 Other assets (describe ► STATEMENT 13) 3, 793,128.' 330,720. 33 0,_7_2 U_. 16 Total assets to be com pleted by all filers 161,615,995. 163,866,611. 163,866,611. 17 Accounts payable and accrued expenses 1,125,516. 3 , 212.- 18 Grants payable 99, GTF. -3 1 5,-480.-, to 19 Deferred revenue 20 Loans from officers, directors, trustees, and other disqualified persons 21 Mortgages and other notes payable J 22 Other liabilities (describe ► STATEMENT 14 ) , 3 6 9. 10600., 5 23 Total liabilities add lines 17 through 22 1,348,885. 861,192.. Foundations that follow SFAS 117, check here ► LXJ and complete lines 24 through 26 and lines 30 and 31. 24 Unrestricted - 160,267,110. 163,005,419. to 25 Temporarily restricted - - m 26 Permanently restricted c Foundations that do not follow SFAS 117, check here ► 'L and complete lines 27 through 31. y 27 Capital stock, trust principal, or current funds 28 Paid-in or capital surplus, or land, bldg., and equipment fund to 29 Retained earnings, accumulated income, endowment, or other funds z 30 Total net assets or fund balances - 160, 2 67,110. 163,005,419. 31 Total liabilities and net assets/tund balances 161,615,995. 16 3 , 8 6 6 , 611. Part III Analysis of Changes in Net Assets or Fund Balances 1 Total net assets or fund balances at beginning of year - Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year's return) - 160,267 ,110. 2 Enter amount from Part I, line 27a <354,700.> 3 Other increases not included in line 2 (itemize) ► SEE STATEMENT 10 3 ,3 6 1,5 f-l -. 4 Add lines 1, 2, and 3 1 6 3,273,921. 5 Decreases not included in line 2 (Itemize) ► UNREALIZED LOSS ON INVESTMENTS 268,50 T.- 6 Total net assets or fund balances at end of year (line 4 minus line 51- Part II. column (b). line 30 163,005, 4 19. Form 990-PF (2010) 023511 12-07-10 3 10451104 786783 WGFII 2010.04050 WALLACE GLOBAL FUND II WGFII_1 Form 990-PF (20 10) WALLACE GLOBAL FUND 11 80-0424607 Page 3 art IV I Capita l Gains and Losses for Tax on Investment I ncome () describe () of sold (.g.,a real estate, ow acquire ( Date (a) List and the kinds property - Purchase c acquired (d) Date sold 2-story brick warehouse; or common stock, 200 shs. MLC Co.) D Donation mo., day, yr.) (mo., day, yr.) 1a PUBLICLY TRADED SECURITIES P VARIOUS VARIOUS b CAPITAL GAINS DIVIDENDS C d e (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 164,066,252. 153,95 4 ,2 8 9. 10,111,963. b 220, 04. 2 0, -0-17 C d e Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col. (h) gain minus (j)Adlusted basis (k) Excess of col. (i) cal. (k), but not less than -0-) or Losses (from cal. (h)) (I) F.M.V. as of 12/31169 as of 12/31/69 over col. (j), it any a 10,11 1,9 6 17 b 220,104. c d e C If gain, also enter in Part I, line 7 2 Capital gain net income or (net capital loss) t If (loss), enter -0- in Part I, line 7 2 10 ,332,067. 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). If loss enter -0- in Part I, line 8 3 N/A Part V I uuaimcatlon Unaer Section 4940(e) Tor Iieaucea 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.