Return of Private Foundation OMB No 1545-0052 Form 990-PF or Section 4947(a)(1) Nonexempt Charitable Trust Department of the Treasury Treated as a Private Foundation Internal Revenue Service Note . The foundation may be able to use a copy of this return to satisfy state reporting requirements. 201 1 For calendar year 2011 or tax year beginning APR 1, 2011 , and ending MAR 31 , 2012 Name of foundation Employer identification number VIRGINIA G PIPER CHARITABLE TRUST 86-6247076 Number and street (or P O box number if mail is not delivered to street address) Room/surte B Telephone number 1202 EAST MISSOURI AVENUE 480-948-5853 City or town, state , and ZIP code C If exemption application is pending , check here ► PHOENIX, AZ 85014-2921 G Check all that apply: Initial return Initial return of a former public charity D 1. Foreign organizations, check here Final return Amended return Foreign organizations meeting the 85% test, Address change Name change 2. check here and attach computation H Check type of organization: Section 501(c)(3) exempt private foundation E If private foundation status was terminated = Section 4947(a)(1) nonexempt charitable trust = Other taxable private foundation under section 507(b)(1)(A), check here I Fair market value of all assets at end of year J Accounting method: L_J Cash Accrual F If the foundation is in a 60-month termination (from Part ll, col. (c), line 16) 0 Other (specify) under section 507(b)(1)(B), check here ► $ 51 2 , 7 2 2 , 4 0 3 . (Part 1, column (d) must be on cash basis.) Part I Analysis of Revenue and Expenses (c) Adjusted net d ) Disbursements (The total of amounts in columns (b), (c), and (d) may not (a) Revenue and (b) Net investment for charitable purposes necessarily equal the amounts in column (a)) expenses per books income income (cash basis only) 1 Contributions, gifts, grants, etc., received 2 Check if the to undattonIs not required to attach Sch B Interest on savings and temporary 3 cash investments 976 . 976 . S TATEMENT 1 4 Dividends and interest from securities 6 ,051,351. 9 , 5 8 4-4. S TATEMENT 2 5a Gross rents E eE e' „E b Net rental income or (loss) r 6a Net gain or (loss) from sale of assets not on line 10 18 ,560,904. ,r) 7 Gross sales price for all 145424249. b assets an line Oa o 201.1 p 7 Capital gain net income (from Part IV, line 2) 23,423, 6 cn 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 -1,221,987. STATEMENT 3 12 Total. Add lines 1 through 11 2 4 , 613 , 231. 31,789,0 4 7. 0. 13 Compensation of officers, directors, trustees, etc 838 , 991 . 199 , 958 . 0. 63 T, 9 3 3 14 Other employee salaries and wages 1, 206,697. 35,713. 0. 1, 161 , 916. 15 Pension plans, employee benefits 568,879 . 51,073. 0. 505, 32 4 . 16a Legal fees STMT 4 4,051. 2,227. 0. 7,140. b Accounting fees STMT 5 330. 0. 63,69 4 . CL 82,996. c Other professional fees STMT 6 2,245,980. 2,224,788. 0. 25,228. 17 Interest 272,310. 272,303. 0. 0. WE 18 Taxes STMT 7 97, 7. 149,211. 0. 6,953. T 19 Depreciation and depletion 347 , 095 . 16,436. 0. M'E 20 Occupancy 121,956. , 3 3 3 . 0. 116,359. 21 Travel, conferences, and meetings 113 , 190 . 12 , 13 6 . 0. 97, 560. 22 Printing and publications 14, 673 . 0. 0. 19 , 766. 70 23 Other expenses STMT 8 889,505. 2,089,859. 0. 886,723. 24 Total operating and administrative expenses . Add lines 13 through 23 6,803 , 970. 5,060,367. 0. 3, 527 , 596. 110a 25 Contributions, gifts, grants paid 26, 065 157. 21 , 908 , 37 6 . ev 26 Total expenses and disbursements. Add lines 24 and 25 32,869,127. 5,060,367. 0. 25,435,972. 27 Subtract line 26 from line 12: a Excess of revenue over expenses and disbursements -8 ,255,896. b Net investment income (if negative, enter -0-) 26, 728, 88 0. c Adjusted net income (if negative, enter -0-) 0 . ;z=oz-i1 LHA For Paperwork Reduction Act Notice , see instructions . Form yyu-rr (ZU11) Form 990-PF (2011) VIRGINIA G PIPER CHARITABLE TRUST 86-6247076 Paae 2 Attached schedules and amounts in the description Beginning of year End of year Part II Balance Sheets column should be for end-0t-year amounts only (a) Book Value (b) Book Value (c) Fair Market Value 1 Cash - non-Interest-bearing 500. 500. 500. 2 Savings and temporary cash investments 9,777,616. 44,833,030. 44,833,030. 3 Accounts receivable ► Less: allowance for doubtful accounts ► 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 2,292. 10a Investments - U.S. and state government obligations STMT 10 21,121,706. 30,809,985. 30, 809,985. b Investments -corporate stock STMT 11 262,874,749. 206,648,017. 20 6, 6 4 8,017. c Investments - corporate bonds STMT 12 18,729,629. 7, 4 15,01 6 . 7, 4 15,01 6 . 11 investments -land, buildings, and equipment basis ► Less accumulated depreciation ► 12 Investments - mortgage loans 13 Investments - other STMT 13 227,459,023. 214,794,606. 214,794, 6 0 6 . 14 Land, buildings, and equipment basis ► 9, 863,735. Less accumulated depreciation STMT 1,926,523. 8,200,657. 7,937,212. 7,937,212. 284,037. 15 Other assets (describe ► STATEMENT 1 4) 287,235. 284,037. 16 Total assets to be completed b all filers 548,453,407. 512,722,403. 512,722,403. 17 Accounts payable and accrued expenses 939 , 210. 856 , 510 . 18 Grants payable 14,718,290. 20,139,948. to 19 Deferred revenue = 20 Loans from officers, directors, trustees, and other disqualified persons 21 Mortgages and other notes payable STMT 15 4 ,968,759. 5A70,737. 'j 22 Other liabilities (describe ► STATEMENT 16 ) 16,939,786. 7,229,959* 23 Total liabilities add lines 17 through 22 37,566,045. 33,297,154. Foundations that follow SFAS 117, check here ► X and complete lines 24 through 26 and lines 30 and 31. 24 Unrestricted 510,887,362. 479,425,249. 25 Temporarily restricted m 26 Permanently restricted C Foundations that do not follow SFAS 117, check here ► 0 and complete lines 27 through 31. u, 27 Capital stock, trust principal, or current funds y 28 Paid-in or capital surplus, or land, bldg., and equipment fund 29 Retained earnings, accumulated income, endowment, or other funds 30 Total net assets or fund balances 510,887,362. 479,425,249. 31 Total liabilities and net assets/fund balances 548,453,407. 512,722,403. Part III Analysis of Changes in Net Assets or Fund Balances 1 Total net assets or fund balances at beginning of year - Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year's return) 1 1 510,887,362. 2 Enter amount from Part I, line 27a 2 -8,255,89 67 3 Other increases not included in line 2 (itemize) ► 3 0. 4 Add lines 1 , 2, and3 4 502, 31, 4 66. 23,206,217. 5 Decreases not included in line 2 (Itemize) ► UNREALIZED LOSSES ON INVESTMENTS 5 6 Total net assets or fund balances at end of year ( line 4 minus line 5 -Part 11, column (b ), line 30 6 4 7 9 , 4 2 5 , 2 4 9 . Form 990-PF (2011) 123511 12-02-11 2 Form990-PF(2011) VIRGINIA G PIPER CHARITABLE TRUST 86-6247076 Page3 Part IV Capital Gains and Losses for Tax on Investment Income ow (a) List and describe the kind(s) of property sold (e.g., real estate, Purchaseacquired (c) Date acquired (d) Date sold day, yr.) (mo., day, yr.) 2-story brick warehouse; or common stock, 200 shs. MLC Co.) D - la b SEE ATTACHED STATEMENT 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 b c d e 145,424,249. 69. 126,855,266. 23,423,61 1-.- 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 (j) Adjusted basis (k) Excess of col. (i) Losses (from col. (h)) (i) F.M.V. as of 12/31/69 as of 12/31/69 over col. (1), if any a b c d e 23,423, 6 14._ 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 2 23,423,614. 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 I Part V Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income (For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.) If section 4940(d)(2) applies, leave this part blank.