990-pf return of private foundation990s.foundationcenter.org/990pf_pdf_archive/541/541661365/...or...

Orn

Form 990-PF

Department of the TreasuryInternal Revenue Service

OMB No 1545-0052

Return of Private Foundationor Section 4947(a)(1) Nonexempt Charitable Trust

Treated as a Private Foundation 2006Note: The foundation may be able to use a copy of this return to satisfy state

renortln a reoulrements

erwlse ,print

Number and street (or P O box number if mail is not delivered to street address ) Room/suite B Telephone number (see instructions)

or type . 1303 BALLANTRAE COURT (757) 640- 1414See Specific City or town State ZIP code C If exemption application is pending, check hereInstructions

McLEAN VA 22101 D 1 Foreign organizations , check here HH Check type of organization- X Section 501(c)(3 exempt private foundation 2 Foreign organizations meeting the 85% test, check

Section 4947 (a )( 1 ) nonexempt charitable trust Other taxable private foundation

qhere and attach computation

I Fair market value of all assets at end of year J Accounting method: [Y.J Accrual E If private foundation status was terminatedcheck hereunder section 507(b)(1)(A)(from Part fl, column (c), line 16) Othe c f

,y) _ _ _ _ _ _ _ _ _ _ _ _r (spe i F If the foundation is in a 60-month termination

$ 2,610,673. (Part if, column (d) must be on cash basis) under section 507(b)(1)(B), check here

Part I Analysis o Revenue andExpenses (The total of amounts in

(a) Revenue andk

(b) Net investment (c) Adjusted net (d) Disbursementsl

columns (b), (c), and (d) may not neces-expenses per boo s income income for charitab e

essarily equal the amounts In column (a)

purpos(cash basis only)

(see Instructions) .)

,For calendar year 2006 , or tax year be innin , 2006 , and ending

G Check all that a pp l y - Initial return Final return Amended return Address change Name chan ge

Use theName of foundation A Employer identification number

IRS label . THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-16613650th

1 Contributions , gifts, grants, etc , received (att sch)

2 Ck if the foundn is not req to att Sch B

3 Interest on savings and temporarycash investments .

0 4 Dividends and interest from securities 25,148. 25 , 148. 25,148.

`" 5a Gross rentsb Net ren t al incomeor (

or (loss)R - I

6a Net gain/(loss) from sale of assets not on line 10 794 , 673 .b Gross sales price for all 1, 672,298.assets on line 6a

7 Capital gain net income (from Part IV, line 2) 794, 673.

P__ 8 Net short-term capital gain 1 , 859.9 Income modifications

10a Gross sales lessreturns andallowances

C^ b Less Cost ofgoods sold

c Gross proftt/( Ioss) (aft sch) {

11 Other income (attach schedule)

See Line 11 Stmt 46 001. 46, 001. 46,001.12 Total. Add lines 1 through 11 865, 822. 865 , 822. 73,008.13 Compensation of officers, directors , trustees, etc

14 Other employee salaries and wages

A 15 Pension plans, employee benefits

D 16a Legal fees (attach schedule ) L-16a Stmt 125. 125. 125.I b Accounting fees (attach sch)

o 1 c Other prof fees (attach sch) L-16c Stmt 13 , 461. 13, 461. 13 461.S

E TE 17 Interest 9. 9. 9.

R A 18 Taxes (attach schedule)T T 19 Depreciation (attach schedule ) and depletionN v 20 Occupancy .G E 21 Travel, conferences , and meetings .

-.22_- P-r-Rting and publicationsr Ibther expenses (attach schedule)

-See-Line 23 Stmt 49. 49. 49.E

SEPS24 Total operatin g and administrative

,rp enses . Add lines 13 through 23 13 , 644. 13,644. 13, 644.25 Contributions , gifts, grants paid 121 107. 121 , 107.

Or-71 D26--T-otal -expenses and disbursements.

-N Adines 24 and 25 134, 751. 13,644. 13, 644. 121,107.tfaet-line 26 from line 12:

a Excess of revenue over expensesand disbursements . . 731 , 071.

b Net investment income ( if negative, enter -0-) 852 f 178C Adjusted net income ( if negative, enter -0-) 59f364.

BAA For Privacy Act and Paperwork Reduction Act Notice , see the instructions . TEEA0301 01/29/07 Form 990-PF 006)

0

Form 990-PF (2006 ) THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365

Attached schedules and amounts in the description Beginning of year End of yearPart ii Balance Sheets column should be for end-of-year amounts only

(See instructions (a) Book Value (b) Book Value (c) Fair Market Value

1 Cash - non-interest-bearing 22,720. 37, 485. 37 C 485.

2 Savings and temporary cash investments

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 otherdisqualified persons (attach schedule) (see instructions)

7 Other notes and loans receivable (attach sch)

S

-----------Less. allowance for doubtful accounts

S----------

8 Inventories for sale or use

ET 9 Prepaid expenses and deferred charges

S 10a Investments - U.S and state governmentobligations (attach schedule)

b Investments - corporate stock (attach schedule) 1,469,481. 2 , 182 , 432. 2,573 , 278.

c Investments - corporate bonds (attach schedule) .

11 Investments - land, buildings, andequipment basis

-----------Less: accumulated depreciation(attach schedule)

-----------12 Investments - mortgage loans

13 Investments - other (attach schedule)

14 Land, buildings, and equipment: basis '

Less- accumulated depreciation(attach schedule)

15 Other assets (describe16 Total assets (to be completed by all filers -

see instructions. Also, see pag e 1, item I 1, 492, 201. 2, 219, 917. 2, 610, 763.

L 17 Accounts payable and accrued expenses 819. 1 , 072.

A 18 Grants payable

B 19 Deferred revenueIL 20 Loans from officers, directors, trustees, & other disqualified persons

1 21 Mortgages and other notes payable (attach schedule)

T 22 Other liabilities (describe )

ES 23 Total liabilities (add lines 17 throu g h 22) 819. 1,072.

N F

Foundations that follow SFAS 117, check hereand complete lines 24 through 26 and lines 30 and 31.

24 UnrestrictedE UT N 25 Temporarily restricted

26 Permanently restricted

S BS AE LT A

Foundations that do not follow SFAS 117, check hereand complete lines 27 through 31.

27 Capital stock, trust principal, or current funds

S N 28 Paid-in or capital surplus, or land, building, and equipment fund

CO E 29 Retained earnings, accumulated income, endowment, or other funds .. . 1 , 491 , 382. 2 218 , 845.R S 30 Total net assets or fund balances (see instructions) 1, 491, 382. 2 218, 845.

31 Total liabilities and net assets/fund balances(see instructions 1, 492, 201. 2,219,917.

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 withend-of-year figure reported on prior year's return) 1 1,491, 382.

2 Enter amount from Part I, line 27a 2 731, 071.

3 Other increases not included in line 2 (itemize)--------------------------- --

3

4 Add lines 1, 2, and 3 .. 4 2,222 , 453.

5 Decreases not included in line 2 (itemize) NFEDERAL TAX_3,3,598 &_PENALTY 10 5 3 , 608.6 Total net assets or fund balances at end of year ( line 4 minus line 5) - Part II, column (b) , line 30 6 2,218, 845.

BAA TEEA0302 01/29/07 Form 990-PF (2006)

Form 990-PF (2006) THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365 Part IV Capital 'Gain s and Losses for Tax on Investment Income

(a) List and describe the kind (s) of property sold (e g , real estate,2-story brick warehouse, or common stock , 200 shares MLC Company)

(b) How acquiredP - PurchaseD - Donation

(c) Date acquired(month, day, year )

(d) Date sold(month, day, year)

1a SEE SCHEDULE ATTACHED P Various Various

b

c

d

e

(e) Gross sales price ( f) Depreciation allowed(or allowable )

(g) Cost or other basisplus expense of sale

(h) Gain or (loss)(e) plus (f) minus (g)

a 1 , 672 , 298 . 877 , 625. 794,673.b

c

d

e

Complete onl y for assets showing gain in column (h) and owned b the foundation on 12/31/69 (I) Gains (Column (h)(i) Fair Market Value

as of 12/31/69(j) Adjusted basisas of 12/31/69

(k) Excess of column ( i)over column 0 ), if any

gain minus column ( k), but not lessthan -0-) or Losses (from column (h))

a 0. 0. 0. 794,673.b

c

d

e

2 Capital gain net income or (net capital loss). If gain, also enter in Part I, line 7If (loss), enter - 0- in Part I, line 7 2 794, 673.

3 Net short-term capital gain or ( loss) as defined in sections 1222(5) and (6)

If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-in Part I , line 8 3 1,859.

I Part V I 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? 1-1 Yes X] 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 instructions before making any entries

(a)Base period years

Calendar year (or tax yearbeginning in)

(b)Adjusted qualifying distributions

(c)Net value of

noncharitable-use assets

(d)Distribution ratio

(column (b) divided by column (c))

2005 80 , 000. 1,473 250. 0.0543022004 75,000. 1,452 422. 0.0516382003 68 , 951. 1,125,175. 0.0612802002 79,796. 1, 339, 195. 0.0595852001 100, 000. 1, 892, 175. 0.052849

2 Total of line 1, column (d) 2 0.279654

3 Average distribution ratio for the 5-year base period- divide the total on line 2 by 5, or by thenumber of years the foundation has been in existence if less than 5 years 3 0 .055931

4 Enter the net value of noncharitable-use assets for 2006 from Part X, line 5 4 1 833,143.

5 Multiply line 4 by line 3 5 102,530.

6 Enter 1 % of net investment income (1 % of Part I, line 27b) 6 8,522.

7 Add lines 5 and 6 7 111,052.

8 Enter qualifying distributions from Part XII, line 4 8 121 , 107.

If line 8 is equal to or greater than line 7, check the box in Part VI, line 1 b, and complete that part using a 1 % tax rate See thePart V I instructions.

BAA Form 990-PF (2006)

TEEA0303 12/28/06

Form 990-PF (2006) THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365

Part VI Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948- see instructions)

1 a Exempt operating foundations described in section 4940(dX2), check here ' and enter 'N/A' on line 1.

Date of ruling letter- (attach copy of ruling letter if necessary - see instructions)

b Domestic foundations that meet the section 4940(e) requirements in Part V, 1 8 , 522.

check here and 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, column (b)

2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxablefoundations only. Others enter -0-) 2 0

3 Add lines 1 and 2 3 8,522.

4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) 4 0.

5 Tax based on investment income. Subtract line 4 from line 3 If zero or less, enter -0- 5 8,522.

6 Credits/Payments-

a 2006 estimated tax pmts and 2005 overpayment credited to 2006 6a 1 , 800.

b Exempt foreign organizations - tax withheld at source . 6b

c Tax paid with application for extension of time to file (Form 8868) . 6c

d Backup withholding erroneously withheld 6d

7 Total credits and payments Add lines 6a through 6d 7 1, 800.

8 Enter any penalty for underpayment of estimated tax Check here if Form 2220 is attached 8 17.

9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed 0- 9 6,739.

10 Overpayment If line 7 is more than the total of lines 5 and 8, enter the amount overpaid 11 10

11 Enter the amount of line 10 to be Credited to 2007 estimated tax Refunded Do, 11

Part VII-A Statements Regardin g Activities

1 a During the tax year, did the foundation attempt to influence any national, state, or local legislation or did itYes No

participate or intervene irn any political campaign? 1 a X

b Did it spend more than $100 during the year (either directly or indirectly) for political purposes(see instructions for definition)? .. 1 b X

If the answer is 'Yes' to la 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? 1 c X

d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:I. 0-(1) On the foundation $ (2) On 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's 2 X

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, articlesof incorporation, or bylaws, or other similar instruments? If 'Yes,' attach a conformed copy of the changes 3 X

4a Did the foundation have unrelated business gross income of $1,000 or more during the year? 4a X

b If 'Yes,' has it filed a tax return on Form 990-T for this year? 4b

5 Was there a liquidation, termination, dissolution, or substantial contraction during the year? 5 X

If 'Yes,' attach the statement required by General Instruction T.

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 conflictwith the state law remain in the governing instrument? 6 X

7 Did the foundation have at least $5,000 in assets at any time during the year? If 'Yes,' complete Part 11, column (c), and Part XV 7 X

8a Enter the states to which the foundation reports or with which it is registered (see instructions)

VIRGINIA

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 8 b X

9 Is the foundation claiming status as a private operating foundation within the meaning of section 49420)(3) or 4942(1)(5)for calendar year 2006 or the taxable year beginning in 2006 (see instructions for Part XIV)' If 'Yes,' complete Part XIV 9 X

10 Did any persons become substantial contributors during the tax year? If 'Yes,' attach a schedule listing their namesand addresses. 10 X


TEEA0304 01129/07


Part VII-A Statements Regarding Activities Continued

11 a At any time during the year, did the foundation, directly or indirectly, own a controlled entitywithin the meaning of section 512(b)(13)? If 'Yes', attach schedule. (see instructions) X

b If 'Yes', did the foundation have a binding written contract in effect on August 17, 2006 , covering the interest , rents,royalties, an annuities described in the attachment for line l la's 11 b

12 Did the foundation acquire a direct or indirect interest in any applicable insurance contract? 12 X

13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? 13 X

Website address .. . b' N/A-----------------------------------------

14 The books are in care of ► FOUNDATION Telephone no (757) 640-1414

Located at ► 1420 BANKAMERICA CENTER NORFOLK VA ZIP + 4 ► 23510

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

and enter the amount of tax-exempt interest received or accrued during the year 15

Part VII- B Statements Regarding Activities for Which Form 4720 May Be Req uired

File Form 4720 if any item is checked in the ' Yes' column , unless an exception applies. Yes No

1 a 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? Yes No

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) adisqualified person? Yes X No

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? Yes X No

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person' Yes [I(J

(5) Transfer any income or assets to a disqualified person (or make any of either availablefor the benefit or use of a disqualified person)? 11 Yes X] No

(6) Agree to pay money or property to a government official? (Exception . Check 'No' if thefoundation agreed to make a grant to or to employ the official for a period after termination

f t f t t th 90 d []Yes Ning wi ogovernmen service, i ermina in ays)o

b If any answer is 'Yes' to la(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 instructions)? 1 b

Organizations relying on a current notice regarding disaster assistance check here U

h f h l th h t d tD d f d d b dation engage in a prior year in any o escri in er t an excep e acc i t e oun t e acts e a, o s,that were not corrected before the first day of the tax year beginning in 20067 1 c

2 Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was aprivate operating foundation defined in section 49420)(3) or 49420)(5)).

a At the end of tax year 2006, did the foundation have any undistributed income (lines 6dq' Yes X Noand 6e, Part XIII) for tax year(s) beginning before 2006

If 'Yes,' list the years 11 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) toall years listed, answer 'No' and attach statement - see instructions) 2b

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

*' 20 , 20 , 20 , 20

3a Did the foundation hold more than a 2% direct or indirect interest in any businesst t X] Nt d h ? E]Yen erprise a any ime ouring t e year .. . es

b If 'Yes,' did it have excess business holdings in 2006 as a result of (1) any purchase by the foundationor disqualified persons after May 26, 1969, (2) the lapse of the 5-year period (or longer period approvedby 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, todetermine if the foundation had excess business holdings in 2006) 3b

4a Did the foundation invest during the year any amount in a manner that would jeopardize itscharitable purposes? 4a

b Did the foundation make any investment in a prior year (but after December 31, 1969) that couldn rem vd h d f ft t bl th t h t b d b th fd t d fjeopar ize i ari ee o e rom jeopars c a e purpose no y e ore irsa a e ay o

the tax year beginning in 2006? 4b

BAA

X

X

X

X

Form 990-PF (2006)

TEEA0305 01/29/07

Form 990-PF (20061THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365

Part VII -B Statements Regardin g Activities for Which Form 4720 May Be Req uired 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))7 Yes No

(2) Influence the outcome of any specific public election (see section 4955); or to carryon, directly or indirectly, any voter registration drive? B Yes XX No

(3) Provide a grant to an individual for travel, study, or other similar purposes? Yes X No

(4) Provide a grant to an organization other than a charitable, etc, organization describedstr ti )4940 2 't 509 1 d2 3 Yes No(see in uc onsion )in sec (a)( ), ( ), or section ( )(), or (

(5) Provide for any purpose other than religious, charitable, scientific, literary, or? qeducational purposes, or for the prevention of cruelty to children or animals El Yes X No

b If any answer is 'Yes' to 5a(1)-(5), did any of the transactions fail to q ualify under the exceptionsdescribed in Regulations section 53 4945 or in a current notice regarding disaster assistance(see instructions)'

Organizations relying on a current notice regarding disaster assistance check here El

c If the answer is 'Yes ' to question 5a(4), does the foundation claim exemption from thetax because it maintained expenditure responsibility for the grant? Yes E] 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 premiumson a personal benefit contract 11 Yes Xj No

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

If you answered 'Yes' to 6b, also file Form 8870

7a At any time during the tax year , was the foundation a party to a prohibited tax shelter transaction? D Yes El No

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

5

X

Fart VIII Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,and Contractors

1 1 it aii nffirerc rlirartnrc trnctoac foundation mananarc and their cmmnencatinn (see inctructinnsl_

(b) Title and average (c) Compensation (d) Contributions to (e) Expense account,

(a) Name and address hours per week (If not paid , enter -0-) employee benefit other allowancesdevoted to position plans and deferred

com pensation

JOSHUA_P.__DARDEN-__________ PRES./DIR

1420 BANK OF AMERICA CTR NORFOLK VA 23510 AS REQ'D 0. 0. 0.

ELIZABETH D . DARDEN_ TREAS/DIR


E. -HOLLEY DARDEN-----------------------

SEC/DIR


AUDREY_D._PARROTT__________

-

DIR

1420 BANK OF AMERICA CTR NORFOLK VA 23510 , AS REQ' D 0 . 0. 0.

2 Cmmnencatinn of five hinhect-naid emolnveec !other than those included no line 1- see instructions!- If none. enter 'NONE.'

(a) Name and address of each employeepaid more than $50,000

(b) Title and averagehours per week

devoted to position

(c) Compensation (d) Contributions toemployee benefitplans and deferredcompensation

(e) Expense account,other allowances

NONE------------------------NONE 0. 0. 0.

------------------------

------------------------

------------------------

-------------------------

Total number of other employees paid over $50,000 None


TEEA0306 12/29/06

Form 990-PF (2006 THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365

Part VIII Information About Officers , Directors , Trustees , Foundation Managers, Highly Paid Employees,and Contractors Continued

3 Five highest-paid independent contractors for professional services - (see instructions ). If none,enter ' NONE.'

(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation

NONE--------------------------------------

Total number of others receiving over $50,000 for professional services None

Part IX-A Summary of Direct Charitable Activities

List the foundation's four largest direct charitable activities during the tax year Include relevant statistical information such as the number of I Expensesorganizations and other beneficiaries served, conferen ces convened, research papers produce d, etc.

1------------------------------------------------------

------------------------------------------------------

2------------------------------------------------------

------------------------------------------------------

3------------------------------------------------------

4------------------------------------------------------

------------------------------------------------------

Part IX=B Summary of Program - Related Investments (see instructions)

Describe the two larg est program-related investments made by the foundation during the tax year on lines 1 and 2 Amount

1-------------------------------------------------------

------------------------------------------------------

2------------------------------------------------------

------------------------------------------------------

All other program-related investments See instructions.

3-------------------------------------------------------------------------------------------------------------

Total. Add lines 1 through 3 0.1


TEEA0307 12/29/06

Form 990-PF t2006) THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365

Part X Minimum Investment Return (AU domestic foundations must complete this part. Foreign foundations,see 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

b Average of monthly cash balances

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

d Total (add lines la, b, and c)

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

(attach detailed explanation) .. I 1 e

2 Acquisition indebtedness applicable to line 1 assets

3 Subtract line 2 from line ld

4 Cash deemed held for charitable activities Enter 1-1/2% of line 3(for greater amount, see instructions)

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

6 Minimum investment return . Enter 5% of line 5

1,827 502.

33,557.

1,861 059.

1,861,059.

27, 916.

1,833 143.

91, 657.

foundations

91, 657.

8,522.

83,135.

83,135.

83,135.

121,107.

121,107.

la

1b

lc

ld

2

3

4

5

art-XI Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operatingand certain foreign organizations check here ► nand do not com plete this part.)

1 Minimum investment return from Part X, line 6

2a Tax on investment income for 2006 from Part VI, hne 5 2a

b Income tax for 2006. (This does not include the tax from Part VI 1 216 1

c Add lines 2a and 2b

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

4 Recoveries of amounts treated as qualifying distributions

5 Add lines 3 and 4

6 Deduction from distributable amount (see instructions)

7 Distributable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII, line 1

8,522.

EPart XII Qualifying Distributions (see 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

b Program-related investments - total from Part IX-B

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

3 Amounts set aside for specific charitable projects that satisfy the-a Suitability test (prior IRS approval required)

b Cash distribution test (attach the required schedule) .

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

5 Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment incomeEnter 1 % of Part I, line 27b (see instructions)

6 Adjusted qualifying distributions . Subtract line 5 from line 4

5 8,522.6 112,585.

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundationqualifies for the section 4940(e) reduction of tax In those years


TEEA0308 01/04/07


Part xiii Undistributed Income (see instructions)

(a) c d

Corpus Years prior to 2005 2005 2006

1 Distributable amount for 2006 from Part XI,line7 83,135.

2 Undistributed income, if any, as of the end of 2005.

a Enter amount for 2005 only

b Total for prior years: 20_, 20 _, 20_

3 Excess distributions carryover, if any, to 2006

a From 2001 5,391.

b From 2002 17 , 2 4 4 .

c From 2003 16 , 790.

d From 2004 3 , 411.

e From 2005 8,122.

f Total of lines 3a through e

4 Qualifying distributions for 2006 from Part

XII, line 4: ► $ 121,107.

a Applied to 2005, but not more than line 2a

b Applied to undistributed income of prior years(Election required - see instructions)

c Treated as distributions out of corpus(Election required - see instructions)

0.

4 ,

50, 958. ^^+.

d Applied to 2006 distributable amount .;r.^'-' b y r'3'=a 83, 135

e Remaining amount distributed out of corpus 37, 972. 'A i Alt, I

5 Excess distributions carryover applied to 2006 ^^^^ '° v -• • ^,:^.^(If an amount appears in column (d), the

^`same amount must be shown in column (a).) _g • ^ ^y ^ - m^ ..

YY^' '46 Enter the net total of each column as,a,

,

indicated below : -

a Corpus Add lines 3f, 4c, and 4e Subtract line 5 88, 930.

b Prior years' undistributed income. Subtract «^;line 4b from line 2b 0. =3 ?<r .^',

c Enter the amount of prior years' undistribut-ed income for which a notice of deficiencyhas been issued, or on which the section4942(a) tax has been previously assessed _;;" °

Taxabled Subtract line 6c from line 6b • _ -' ' `` " ). _ +amount - see instructions 0.

e Undistributed income for 2005 Subtract line 4a fromline 2a Taxable amount - see instructions 0.

f Undistributed income for 2006. Subtract lines -4d and 5 from line 1. This amount must bedistributed in 2007 0.

7 Amounts treated as distributions out ofcorpus to satisfy requirements imposed 4by section 170(b)(1)(E) or 4942(g)(3)(see instructions)

8 Excess distributions carryover from 2001 notapplied on line 5 or line 7 (see instructions) 5, 391.

9 Excess distributions carryover to 2007.Subtract lines 7 and 8 from line 6a 83, 539.

10 Analysis of line 9:

a Excess from 2002 17,244.b Excess from 2003 16,790.

c Excess from 2004 3,411.

d Excess from 2005 8 , 122.

e Excess from 2006 37,972. 1


TEEA0309 12/29/06


Part XIV Private Operating Foundations (see instructions and Part VII -A, q uestion 9) N/A

1 a If the foundation has received a ruling or determination letter that it is a private operating foundation, and the rulingis effective for 2006 , enter the date of the ruling

b Check box to indicate whether the foundation is a p rivate operatin g foundation described in section 4942 3 or 4942 0)(5)

2a Enter the lesser of the adjusted net Tax year Prior 3 yearsincome from Part I or the minimum a 2006 b 2005 c 2004 d 2003 a Totalinvestment return from Part X foreach year listed

b 85% of line 2a

c Qualifying distributions from Part XII,line 4 for each year listed . .

d Amounts included in line 2c not used directlyfor active conduct of exempt activities

e Qualifying distributions made directlyfor active conduct of exem p t activitiesSubtract line 2d from line 2c

3 Complete 3a , b, or c for thealternative test relied upon-

a 'Assets' alternative test - enter-

(1) Value of all assets

(2) Value of assets qualifying undersection 49420 )(3)(8)(1)

b 'Endowment' alternative test - enter 2/3 ofminimum investment return shown in Part X,line 6 for each year listed

c 'Support ' alternative test - enter-

(1) Total support other than grossinvestment income ( interest,dividends, rents, paymentson securities loans (section512(a)(5 )), or royalties)

(2) Support from general public and 5 ormore exempt organizations as providedin section 4942(lX3)(B)(ui)

(3) Largest amount of support froman exempt organization

(4) Gross investment income

Part XV Supplementary Information (Complete this part only if the organization had $5 ,000 or more inassets at any time durinci the year - see 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 theclose of any tax year (but only if they have contributed more than $5,000) (See section 507(d)(2) )

JOSHUA P. DARDENb List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the ownership of

a partnership or other entity) of which the foundation has a 10% or greater interest.

NONE

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

Check here 0 [] if the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited

requests for funds. If the foundation makes gifts, grants, etc, (see instructions) to individuals or organizations under other conditions,complete items 2a, b, c, and d.

a The name, address, and telephone number of the person to whom applications should be addressed-

JOSHUA P. DARDEN, JR.

1420 BANK OF AMERICA CENTER

NORFOLK VA 23510 (757) 640-1414

b The form in which applications should be submitted and information and materials they should include-

LETTER STATING PURPOSE AND NEED FOR REQUEST

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

NONE

BAA TEEA0310 12/29106 Form 990-PF (2006)

Form 990-PF '(2006) THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365

Part XV Supplementary Information (continued)

3 Grants and Contributions Paid Durina the Year or Aaaroved for Future Payment

If recipient is an individual,FoundationRecipient show any relationship tostatus of Purpose of grant or Amount

any foundation manager or contributionl t b tb t t recipient

Name and address (home or business ) oria con ri usu s an

a Paid during the year

DWELLING PLACE GENERAL

NORFOLK, VA 5,000.

HOPE HOUSE FDN GENERAL

NORFOLK, VA 10,000.

JAMESTOWN-YORKTOWN FDN, INC GENERAL

WILLIAMSBURG, VA 23187 1,607.

JEFFERSON CIRCLE GENERAL

CHARLOTTESVILLE, VA 22904 1,000.

JUDEO CHRISTIAN OUTREACH CTR GENERAL

VA BEACH, VA 15,000.

MILLER CENTER FDN GENERAL


NORFOLK PUBLIC LIBRARY EDUCATIONAL

NORFOLK, VA 10,000.

NORFOLK SPCA GENERAL

NORFOLK, VA 10,000.

PLACES AND PROGRAMS FOR CHILDREN GENERAL

PORTSMOUTH, VA 10,000.

SAMARITAN HOUSE GENERAL

VA BEACH, VA 5,000.

THE MONTICELLO CABINET GENERAL


THE NATURE CONSERVANCY OF VIRIGNIA GENERAL


UJFT COMMUNITY CAMPUS, LLC GENERAL

VA BEACH, VA 23462 2,500.

VIRGINIA BEACH CASA GENERAL

VA BEACH, VA 10,000.

VIRGINIA BEACH SPCA GENERAL

3040 HOLLAND ROAD, VIRGINIA BEACH, VA 23456 10,000.

See Line 3a statement 15,000.

Total 3a 121,107.

b Approved for future payment

Total 10. 3b'

BAA TEEA0501 12/29/06 Form 990-PF (2006)


Part XVI-A 1 Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514

1

c

2

3

4

5

a

6

7

8

9

10

11

12 Subtotal

13 Total . Add line 12, columns (b), (d), and (e) 13 819,821.

(See worksheet in the instructions for line 13 to verify calculations

Part XVI-B: Relationship of Activities to the Accomplishment of Exempt Purposes

rogram service revenue-

(a)Businesscode

(b)Amount

(c)Exclu -Sioncode

(d)Amount

(e)Related or exemptfunction incomesee instructions

Fees and contracts from government agencies

Membership dues and assessments

Interest on savings and temporary cash investments

Dividends and interest from securities 25,148. 18

Net rental income or (loss) from real estate .

Debt-financed property

Not debt-financed property

Net rental income or (loss ) from personal property

Other investment income

Gain or ( loss) from sales of assets other than inventory 794,673. 18

Net income or (loss) from special events

Gross profit or (loss) from sales of inventory

Other revenue (-. 7"` ^a

Add columns (b), (d), and (e) ^,°^. 819, 821 .

BAA TEEA0502 12129/06 Form 990-PF (2006)

Form 990-PF 12006) 'THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365

Part XVII Information Regarding Transfers To and Transactions and Relationships With NoncharitableExempt Organizations

Yes No1 Did the organization directly or indirectly engage in any of the following with any other organization

described in section 501(c) of the Code (other than section 501 (c)(3) organizations) or in section 527,relating to political organizations?

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

(1) Cash 1 a (1) X

(2) Other assets 1 a (2) X

b Other transactions:

(1) Sales of assets to a noncharitable exempt organization 1 b (1) X

(2) Purchases of assets from a noncharitable exempt organization 1 b (2) X

(3) Rental of facilities, equipment, or other assets 1 b (3) X

(4) Reimbursement arrangements 1 b (4) X

(5) Loans or loan guarantees 1 b (5) X

(6) Performance of services or membership or fundraising solicitations 1 b (6) X

c Sharing of facilities, equipment, mailing lists, other assets, or paid employees 1 c X

d If the answer to any of the above is 'Yes,' complete the following schedule Column (b) should always show the fair market value ofthe goods, other assets, or services given by the reporting foundation If the foundation received less than fair market value inany transaction or sharin g arran gement, show in column (d) the value of the goods, other assets, or services received

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

2a Is the foundation directly or indirectly affiliated with , or related to , one or more tax-exempt organizationsdescribed in section 501(c) of the Code (other than section 501 (c)(3)) or in section 527? E]Yes No

b If 'Yes .' cmmnlete the fnllnwinn schedule

(a) Name of organization (b) Type of organization (c) Description of relationshi p

Under penalties of perjury, I declare that I ha vecomplete Declaration of preparer (other than taxpayer or fiduciary) is based on all inform

s 0- (P1

Signature t o5er or trusteeN

ERE

Preparer'sPaid signature 10-

Ro ger A. SperoPre-parer's Firm's name (or SHERMAUse yours if self-Only employed ), 760 LYNNHAVEN

address, andZIP code VIRGIN IA

BAA

13

Schedule BOMB No 1545-0047

(Form 990 , 990-EZ , Schedule of Contributors2006

or 990-PF)

Department of the Treasury Supplementary Information forInternal Revenue Service line 1 of Form 990, 990 -EZ and 990 - PF (see instructions)

Name of organization Employer identification number

THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 154-1661365

Organization type (check one):

Filers of : Section:

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

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

527 political organization

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

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

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 checkboxes for both the General Rule and a Special Rule - see instructions.)

General Rule -

FXJ For organizations filing Form 990, 990-EZ, or 990-PF that received, during the year, $5,000 or more (in money or property) from any onecontributor. (Complete Parts I and II.)

Special Rules -

F]For a section 501(c)(3) organization filing Form 990, or Form 990-EZ, that met the 33-1/3% support test of the regulations under sections509(a)(1)/170(b)(1)(A)(vi) and received from any one contributor, during the year, a contribution of the greater of $5,000 or 2% of theamount on line 1 of these forms (Complete Parts I and II )

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

For a section 501(c)(7), (8), or (10) organization filing Form 990, or Form 990-EZ, that received from any one contributor, during the year,some 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 were 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 : Organizations that are not covered by the General Rule and/or the Special Rules do not file Schedule B (Form 990, 990-EZ, or990-PF) but they must check the box In the heading of their Form 990, Form 990-EZ, or on line 2 of their Form 990-PF, to certify that they donot meet the filing requirements of Schedule B (Form 990, 990-EZ, or 990-PF)

BAA For Paperwork Reduction Act Notice, see the Instructions Schedule B (Form 990, 990-EZ, or 990-PF) (2006)for Form 990, Form 990-EZ, and Form 990-PF.

TEEAD701 01/18/07

Form 2220

Department of the TreasuryInternal Revenue Service

Underpayment of Estimated Tax by Corporations1, See separate instructions.

Attach to the corporation ' s tax return.

Name Employer identification number


Note : Generally, the corporation is not required to file Form 2220 (see Part I/ below for exceptions) because the IRS will figure any penaltyowed and bill the corporation However, the corporation may still use Form 2220 to figure the penalty If so, enter the amount from page2, line 34 on the estimated tax penalty line o f the corporation's income tax re turn, but do not attach Form 2220

Part I Req uired Annual Payment1 Total tax (see instructions) . . . .. 1 8 , 522.

2a Personal holding company tax (Schedule PH (Form 1120), line 26) includedon line l 2a

b Look-back interest included on line 1 under section 460(b)(2) for completedlong-term contracts or section 167(g) for depreciation under the incomeforecast method 2b

c Credit for Federal tax paid on fuels (see instructions) 2 c

d Total . Add lines 2a through 2c 2d

3 Subtract line 2d from line 1 If the result is less than $500, do not complete or file this formThe corporation does not owe the penalty 3 8,522.

4 Enter the tax shown on the corporation's 2005 income tax return (see instructions) Caution : ffthe taxiszero or the tax year was for less than 12 months, skip this line and enter the amount fromline 3 on line 5 4 1,785.

5 Required annual payment . Enter the smaller of line 3 or line 4 If the corporation is required to skip line 4,enter the amount from line 3 5 1,785.

F-Pa'rt ll Reasons for Filing - Check the boxes below that apply. If any boxes are checked, the corporation mustfile Form 2220, even if it does not owe a penalty (see instructions).

6 The corporation is using the adjusted seasonal installment method.

7 The corporation is using the annualized income installment method

8 The corporation is a 'large corporation' figuring its first required installment based on the prior year's tax

Partlll-. Fi g urin g the Underpayment(a) (b) (c) (d)

9 Installment due dates. Enter in columns (a) through(d) the 15th day of the 4th (Form 990- PFfi/ers:Use 5th month), 6th, 9th, and 12th months of thecorporation's tax year. 9 05/15/06 06/15/06 09/15/06 12/15/06

10 Required installments. If the box on line 6 and/or line7 above is checked, enter the amounts from ScheduleA, line 38 If the box on line 8 (but not 6 or 7) ischecked, see instructions for the amounts to enter.If none of these boxes are checked, enter 25% of line5 above in each column Special rules apply tocorporations with assets of $1 billion or more(see instructions) 10 446. 446. 446. 447.

11 Estimated tax paid or credited for each period (seeinstructions) For column (a) only, enter the amountfrom line 11 on line 15 11 1,800.

Complete lines 12 through 18 of one columnbefore going to the next column.

12 Enter amount, if any, from line 18 of the preceding column 12 462.

13 Add lines 11 and 12 13 1,800. 462.

14 Add amounts on lines 16 and 17 of the preceding column 14 446. 892. 0.

15 Subtract line 14 from line 13. If zero or less, enter -0- 15 0. 908. 462.

16 If the amount on line 15 is zero, subtract line 13 fromline 14 Otherwise, enter -0- 16 446. 0.

17 Underpayment . if line 15 is less than or equal to line10, subtract line 15 from line 10 Then go to line 12 ofthe next column. Otherwise, go to line 18 17 446. 446.

18 Overpayment . If line 10 is less than line 15, subtractline 10 from line 15 Then go to line 12 of thenext column 18 462.

Go to Part/V on page 2 to figure the penalty. Do not go to Part /V if there are no entries online 17- no penalty is owed

BAA For Paperwork Reduction Act Notice , see separate instructions . Form 2220 (2006)

OMB No 1545-0142

2006

CPCZ0312 01/16/07

I 5

Form 2220 (2006) THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365 Page 2

Part IV Figuring the Penalty

19 Enter the date of payment or the 15th day of the 3rd See Stmtmonth after the close of the tax year, whichever isearlier (see instructions ) (Form 990-PFand Form990-T filers: Use 5th month instead of 3rd month) 19

20 Number of days from due date of installmenton line 9 to the date shown on line 19 20

21 Number of days on line 20 after 4/ 15/2006 andbefore 7/1 /2006 21

22 Underpayment Number of dayson line 17 x on line 21 x 7%

365 22

23 Number of days on line 20 after 6/30/2006 andbefore 4/ 1/2007 .. 23

24 Underpayment Number of dayson line 17 x on line 23 x 8%

365 24

25 Number of days on line 20 after 3 /31/2007 andbefore 7/1 /2007 25

26 Underpayment Number of dayson line 17 x on line 25 x *%

365 26

27 Number of days on line 20 after 6/30/2007 andbefore 101 112007 27

28 Underpayment Number of dayson line 17 x on line 27 x

365 28

29 Number of days on line 20 after 9 /30/2007 andbefore 1 /1 /2008 29


365 30

31 Number of days on line 20 after 12/31/2007 andbefore 2/ 16/2008 31


366 32

33 Add lines 22, 24, 26, 28 , 30, and 32 . . . 1 33

34 Penalty. Add columns (a) through (d) of line 33 Enter the total here and on Form 1120, line 33, Form 1 120-A,

line 29; or the comparable line for other income tax returns 34 17.

*For underpayments paid after March 31, 2007 : For lines 26, 28, 30, and 32, use the penalty interest rate for each calendar quarter, which theIRS will determine during the first month in the preceding quarter These rates are published quarterly in an IRS News Release and in arevenue ruling in the Internal Revenue Bulletin. To obtain this information on the Internet, access the IRS website atwww. irs.gov. You can alsocall 1-800-829-4933 to get interest rate information

Form 2220 (2006)

CPCZ0312 01/16/07

Ito

Underpayment Penalty Statement 200611 Attach to return

Name

THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION

Employer Identification No

54-1661365

'Event' Date Amount

DueAmount

Paid

Balance Due

(Overpayment)

Percent # of

Days

Penalty

Amount Due 05/15/06 446. 446. 7.00 31 2.65

Amount Due 06/15/06 446. 892. 7.00 15 2.57

Rate Change 06/30/06 892. 8.00 61 11.93

Payment 08/30/06 1,800. -908. 8.00

Amount Due 09/15/06 446. -462. 8.00

Amount Due 12/15/06 447. -15. 8.00

Date Filed 05/15/07 -15. 8.00

Total Penalty 17.15

CPCV1401 ScR 01/10/07

THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365 1 (7

Form 990-PF, Page 1, Part I, Line 11Line 11 Stmt

Other income: Rev/Exp Book Net Inv Inc Add Net Inc

ST CAPITAL GAIN DIST. 6,690. 6,690. 6,690.

LT CAPITAL GAIN DIST. 39,311. 39,311. 39,311.

Total 46,001. 46,001. 46,001.

Form 990-PF, Page 1, Part I, Line 23Line 23 Stmt

Other expenses- Rev/Exp Book Net Inv Inc Ad Net Inc Charity Disb

TAXES & LICENSES 25. 25. 25.

OFFICE EXPENSE 24. 24. 24.

Total 49. 49. 49.

Form 990-PF, Page 1, Part I, Line 16aL-16a Stmt

Line 16a - Legal Fees:Name of Provider Type of Service Provided I Amount Paid

Williams Mullen Annual report ^ 125.

Total 125.

Form 990-PF, Page 1, Part I, Line 16c

L-1 6c Stmt

Line 16c - Other ProfessionalFees:

Name of Provider Type of Service Provided Amount Paid

Asset Mgmt Advisors investment 13,461.

Total 13,461.


Form 990 - PF, Page 11 , Part XV, line 3a

Line 3a statement

Recipient

Name and address

(home or business)

If recipient isan individual,

show anyrelationship toany foundation

manager or

substantial

contributor

a Paid during the year

Foun- Purpose of

dation grant or contribution

status

of re-

cipient

Amount

YMCA SO HAMPTON ROADS GENERAL

NORFOLK, VA 10,000.

FRIENDS OF THE NORFOLK JUVENILE CT INC GENERAL

800 E. CITY HALL, NORFOLK, VA 5,000.

SIR

Total 15,000.

} REALIZED GAINS AND LOSSES - SETTLED TRADESJPD-EDD Foundation

Account # 509From 12-31-05 Through 12-31-06

Open Close Cost Adjusted Adjusted

Date Date Quantity Security Basis Cost Basis Proceeds Gain Or Loss Gain Or Loss

Short Term

11-29-05 01-20-06 4,515 8910 POTOMAC FDS HY BOND 83,567 99 v\ 83,567 99 82,843 04 -724 95 -724 95FD INV

12-02-05 01-20-06 84 5950 POTOMAC FDS HY BOND 1,53540 1,53540 1,551 88 16 48 16 48

FD INV

03-10-06 20 0280 POTOMAC FDS HY BOND 368 31 368 31 365 79 -2 52 -2 52

FD INV

01-31-06 03-10-06 4,092 3750 POTOMAC FDS HY BOND 75,119 09 75,119 09 74,743 81 -375 28 -375 28FD INV

99-9?-"" 05-17-06 25 4410 POTOMAC FDS HY BOND 469 14 469 14 469 23 0 09 0 09FD INV

03-17-06 05-17-06 3,909 5130 POTOMAC FDS HY BOND 71,607 19 71,607 19 72,106 67 499 48 499 48FD INV

??-99-9? 06-05-06 26 6500 SALOMON BROTHERS 225 19 225 19 221 46 -3 73 -3 73HIGH YIELD BOND FUND

02-01-06 06-05-06 28 7210 SALOMON BROTHERS 242 12 242 12 238 67 -3 45 -3 45HIGH YIELD BOND FUND

99-?9-?9 06-05-06 30 3000 SALOMON BROTHERS 254 82 254 82 251 79 -3.03 -3 03HIGH YIELD BOND FUND

99-99-?? 06-05-06 30 6800 SALOMON BROTHERS 258 02 258 02 254 95 -3 07 -3 07HIGH YIELD BOND FUND

12-06-05 06-05-06 4,997 4640 SALOMON BROTHERS 41,778 80 41,778 80 41,528 93 -249 87 -249 87} HIGH YIELD BOND FUND


""-""-"" 06-15-06 196 7750 NORTHEAST INVS TR SH 1,501 39 1,501 39 1,491 15 -10 24 -10 24BEN INT

06-15-06 198 0720 NORTHEAST INVS TR SH 1,475 64 1,475 64 1,500 98 25 34 25 34BEN INT

12-01-05 06-15-06 11,351 0860 NORTHEAST INVS TR SH 83,567 99 ^ 83,567 99 86,018.04 2,45005 2,45005BEN TNT


07-10-06 07-19-06 4,221 8120 POTOMAC FDS HY BOND 76,016 61 76,016 61 75,546 43 -470 18 -470 18

FD INV

12-20-05 07-25-06 92 9250 HARBOR I'D S CAP VAL 1,84085 1,84085 1,83248 -8 37 -8 37INST

07-07-06 10-10-06 9,812 6090 NORTHEAST INVS TR SH 74,894 21 74,894 21 74,846 58 -47 63 -47 63

BEN INT08-17-06 10-10-06 155 7550 NORTHEAST INVS TR SH 1,17751 1,17751 1,18804 10 53 10 53

BEN INT

10-23-06 10-25-06 9 8750 POTOMAC FDS HY BOND 183 08 183 08 183 45 0 37 0 37FD INV

09-14-06 10-25-06 1,820 8200 POTOMAC FDS HY BOND 33,345 00 33,345 00 33,825 30 480 30 480 30FD INV

09-18-06 10-25-06 10 0040 POTOMAC FDS HY BOND 182 08 182 08 185 84 3 76 3 76FD INV

07-25-06 12-11-06 1,261.0340 HUSSMAN INVT TR 20,353 09 20,353 09 20,000 00 -353 09 -353 0912-04-06 12-14-06 27 3000 WM TR I HI YLD CL A 242 97 242 97 239 42 -3 55 -3 5511-02-06 12-14-06 28 1290 WM TR I HI YLD CL A 247 25 247 25 246 69 -0 56 -0 5612-07-06 12-14-06 84 5410 WM TR I HIYLD CL A 740 58 740 58 741 42 0 84 0 8410-03-06 12-14-06 20 2420 WM TR I HI YLD CL A 175 50 175 50 177 52 2 02 2 0209-07-06 12-14-06 3,957 9910 WM TR I HI YLD CL A 34,078 30 34,078 30 34,711 59 633 29 633 29

Total Short Term 605,943 27 605,943 27 607,802 02 1,858 75 1,85875

1

' 19

REALIZED GAINS AND LOSSES - SETTLED TRADESJPD-EDD Foundation

Account # 509From 12-31-05 Through 12-31-06

Open Close Cost Adjusted Adjusted

Date Date Quantity Security Basis Cost Basis Proceeds Gain Or Loss Gain Or Loss

Long Term01-12-95 02-01-06 12,628 0000 INTEL CORP COM 49,880 60 49,880 60 274,145.44 224,264 84 224,264 84

01-01-84 02-01-06 25,942 0000 INTEL CORP COM 40,440 87 40,440 87 563,183 49 522,742 62 522,742 62

12-21-04 07-25-06 151 1114 CAUSEWAY CAP MGMT 2,37396 2,37396 2,70792 333 96 333 96TR INTL VALUE INV

12-21-04 07-25-06 196 3813 CAUSEWAY CAP MGMT 3,085 15 3,085 15 3,519 15 434 00 434 00TR INTL VALUE INV

12-21-04 07-25-06 87 5557 CAUSEWAY CAP MGMT 1,37550 1,37550 1,56900 193 50 193 50

TR INTL VALUE INV

03-15-04 07-25-06 625 2196 CAUSEWAY CAP MGMT 8,76558 8,765 58 11,203 93 2,438 35 2,438 35TR INTL VALUE INV

02-16-05 07-25-06 2,138 3130 HARBORFD S CAP VAL 40,093 37 40,093 37 42,167 52 2,074 15 2,074 15

INST

12-14-04 07-25-06 120 1458 HARRIS ASSOC INVT TR 2,298 39 2,298 39 2,598 75 300 36 300 36OAKMARK INTL SC

12-14-04 07-25-06 166 3215 HARRIS ASSOC INVT TR 3,181 73 3,181 73 3,59753 415 80 415 80OAKMARK INTL SC

03-15-04 07-25-06 1,547 5173 HARRIS ASSOC INVT TR 25,982 81 25,982 81 33,472 80 7,48999 7,489 99OAKMARK INTL SC

12-04-03 07-25-06 662 5484 HARRIS ASSOC INVT TR 10,170 12 10,170 12 14,330 92 4,160.80 4,160.80OAKMARK INTL SC

01-14-04 07-25-06 563 7919 JANUS INVT FD MJDCP 11,664 85 11,664 85 12,871 37 1,206 52 1,206 52VAL INST

01-02-04 07-25-06 636 0078 JANUS INVT FD MIDCP 13,000 00 13,000 00 14,520 06 1,520 06 1,520 06VAL INST

12-17-03 07-25-06 18 2402 JANUS INVT FD MIDCP 362 25 362 25 416 42 54 17 54 17VAL INST

12-10-03 07-25-06 183 6246 JANUS INVT FD MIDCP 3,635 77 3,63577 4,192 15 556.38 556 38VAL INST

03-15-04 12-11-06 984 7370 CAUSEWAY CAP MGMT 13,806 01 13,806 01 20,000 00 6,193.99 6,193 99TR INTL VALUE INV

04-21-05 12-11-06 677 2770 FAIRHOLME FD COM 15,604 46 15,604 46 20,000 00 4,395 54 4,395 5402-16-05 12-11-06 448 2290 HARBORFD S CAP VAL 8,40429 8,40429 10,000 00 1,595 71 1,595 71

INST12-04-03 12-11-06 1,143.7290 HARRIS ASSOC INVT TR 17,556 24 17,556 24 30,000 00 12,443 76 12,443 76

OAKMARK INTL SC

Total Long Term 271,681 96 271,681 96 1,064,496 45 792,814.49 792,814 49

TOTAL GAINS 796,937 04 796,937 04TOTAL LOSSES -2,263 80 -2,263 80

877,625.23 877,625.23 1,672,298.47794,673.24 794,673 .24

TOTAL REALIZED GAINILOSS 794,673 24TOTAL ADJUSTED REALIZED GAIN/LOSS 794,673 24

2

Form 8868 Application for Extension of Time To File an(Rev December 2006)

Exempt Organization Return OMB No 1545-1709

Departmenteve

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ServiceTreasury

Internal R evenue File a se parate a pp lication for each return

• If you are filing for an Automatic 3-Month Extension, complete only Part I and check this box . 0- U

• If you are filing for an Additional (not automatic) 3-Month Extension , complete only Part II (on'page 2 of this form)

Do not complete Part t/ unless you have already been granted an automatic 3-month extension on a previously filed Form 8868

Part I I Automatic 3-Month Extension of Time . Only submit original (no copies needed).

Section 501 (c)(3) corporations required to file Form 990-T and requesting an automatic 6-month extension - check this box and complete qPart I only

All other corporations (Including 7720-C filers), partnerships, REMICS, and trusts must use Form 7004 to request an extension of time to fileincome tax returns

Electronic Filing (e-file). Generally, you can electronically file Form 8868 if you want a 3-month automatic extension of time to file one of thereturns noted below (6 months for section 501 (c)(3) corporations required to file Form 990-T) However, you cannot file Form 8868electronically if (1) you want the additional (not automatic) 3-month extension or (2) you file Forms 990-BL, 6069, or 8870, group returns, or acomposite or consolidated Form 990-T Instead, you must submit the fully completed and signed page 2 (Part II) of Form 8868 For more detailson the electronic filing of this fo r m, visit www irs goviefile and click on e-file for Charities & Nonprofits.

Type orprintFile by thedue date forfiling yourreturn Seeinstructions

Name of Exempt Organization Employer identification number

THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 1 54-1661365

Number, street , and room or suite number If a P 0 box, see instructions

1303 BALLANTRAE COURT,City, town or post office For a foreign address, see instructions

McLEAN

state ZIP code

VA 22101

Check type of return to be filed (file a separate application for each return):

Form 990 Form 990-T (corporation) Form 4720

Form 990-BL Form 990-T (section 401(a) or 408(a) trust) Form 5227

Form 990-EZ Form 990-T (trust other than above) Form 6069

X Form 990-PF Form 1041-A Form 8870

• The books are in the care of I" FOUNDATION-------------------------------------

Telephone No 1", ( 7 57) 6 40- 1 414FAXNo "'-_______________

• If the organization does not have an office or place of business in the United States , check this box

• If this is for a Group Return, enter the organization ' s four digit Group Exemption Number (GEN) If this is for the whole group,

check this box " F] If it is for part of the group , check this box and attach a list with the names and EINs of all members

the extension will cover

1 I request an automatic 3-month (6 months for a section 501 (c)(3) corporation required to file Form 990 - T) extension of time

until _A- 15_ - , 20 0 7 _ , to file the exempt organization return for the organization named above

The extension is for the organization ' s return for:

1 XX calendar year 20 06 or

tax year beginning _ _ - - - - - , 20 and ending _ _ - - _ , 20

2 If this tax year is for less than 12 months, check reason: El Initial return 11 Final return Change in accounting period

3a If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less anynonrefundable credits See instructions 3a $ 1, 800.

b If this application is for Form 990-PF or 990-T, enter any refundable credits and estimated tax paymentsmade Include any prior year overpa yment allowed as a credit 3b $ 1,800.

c Balance Due. Subtract line 3b from line 3a Include your payment with this form, or, if required,deposit with FTD coupon or, if required, by using EFTPS (Electronic Federal Tax Payment System)See instructions 31c $ 0.

Caution . If you are going to make an electronic fund withdrawal with this Form 8868, see Form 8453-EO and Form 8879-EO forpayment instruction s.

BAA For Privacy Act and Paperwork Reduction Act Notice, see instructions . Form 8868 (Rev 12-2006)

C^ I

FIFZ0501 12/19/06

Form 8868 (Rev 12-2006) THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365 Page 2

• If you are filing for an Additional (not automatic ) 3-Month Extension , complete only Part II and check this box

Note. Only complete Part II if you have already been granted an automatic 3-month extension on a previously filed Form 8868

• If you are filing for an Automatic 3-Month Extension , com plete only Part I (on page 1)

Part tl, Additional (not automatic) 3-Month Extension of Time. You must file'origlnal and one copy.Name of Exempt Organization 1' 1 Employer identification number

Type or

due datextended

forfiling the 1303 BALLANTRAE COURT,return Seei nstructions City, town or post office, state, and ZIP code For a foreign address, see instructions

McLEAN VA 22101

print THE JOSHUA P. & ELIZABETH D. DARDEN FOUNDATION 54-1661365

Number, street , and room or suite number If a P 0 box, see instructions - For IRS use only

File by thee

Check type of return to be filed (File a separate aoDllcatlon for each return):

Form 990 X Form 990-PF' Form 1041-A Form 6069HForm 990-BL Form 990-T (section 401(a) or 408(a) trust) Form 4720 Form 8870

Form 990-EZ Form 990-T (trust other than above) Form 5227

STOP! Do not complete Part 11 if you were not already granted an automatic 3-month extension on a previously, filed Form 8868.

• The books are in care of 01, FOUNDATION

Telephone No 0' _(757)_ 6 40- 1 414_____ FAX No. I-_________________• If the organization does not have an office or place of business in the United States, check this box LI

• If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN) If this is for the

whole group, check this box . If it is for part of the group, check this box 0- and attach a list with the names and EINs of all

members the extension is for

4 I request an additional 3-month extension of time until Nov 15 20 0 7

5 For calendar year 2006 , or other tax year beginning 20 and ending_ 20

6 If this tax year is for less than 12 months, check reason: -D Initial return fl Final return Change in accounting period

7 State in detail why you need the extension INFORMATION FROM SUBSTANTIAL K-1 HAS----------------------------------------

NOT YET BEEN RECEIVED.------------------------------------------------------------------

8a If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less anynonrefundable credits See instructions 8a $ 1,800.

b If this application is for Form 990-PF, 990-T, 4720, or 6069, enter any refundable credits and estimated taxpayments made. Include any prior year overpayment allowed as a credit and any amount paid previouslywith Form 8868 8b $ 1, 800.

c Balance Due. Subtract line 8b from line 8a Include your payment with this form, or, if required, depositwith FTD coupon or, if required, by usin g EFTPS (Electronic Federal Tax Payment System) See instrs 8c $ 0.

Signature and VerificationUnder penalties of perjury, I declare that I have examined this form, including accompanying schedules and statements , and to the best of my knowledge and belief, i s true,correct, and complete, and that I am authorized to prepare this form

Signature Title G114 Date

Notice to Applicant. (To be Completed by the IRS)

We have approved this application Please attach this form to the organization's return.We have not approved this application However, we have granted a 1 0-day grace period from the later of the date shown below or thedue date of the organization's return (including any prior extensions) This grace period is considered to be a valid extension of time forelections otherwise required to be made on a timely filed return. Please attach this form to the organization's return.We have not approved this application After considering the reasons stated in item 7, we cannot grant your request for an extension oftime to file We are not granting a 10-day grace period.

We cannot consider this application because it was filed after the extended due date of the return for which an extension was requested.Other

ByDirector Date

Alternate Mailing Address . Enter the address if you want the copy of this application for an additional 3-month extension returned to anaddress different than the one entered above

Name

Ro er A. Spero

Type or Number and street (include suite , room, or apartment number) or a P O box number

print760 LYNNHAVEN PKWY, STE 108City ortown , province or state, and country (including postal or ZIP code)

VIRGINIA BEACH VA 23452

BAA FIFZ0502 12/19/06 Form 8868 (Rev 12.2006)

990-pf return of private foundation990s.foundationcenter.org/990pf_pdf_archive/541/541661365/...or...

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