hulr pf 2003 -...

Form 990-PFDepartmen t of the Treasu ryInterna l Reven u e Serv ice

Add lines 13-fhfeL6h 2 3

For calendar year 2003, or tax year beginning JU L 1 , 2003 , and ending JUN 3 0, 200 ,

G Check all that apply : Initial return Final return Amended returnUse the IRS Name of organizatio n

label. MARTIN COUNTY COMMUNITY FOUNDATION,Otherwise, INC . C/O T . MICHAEL CROOK

print Number and street ( or P O box number if mail is not delivered to street address) Room suite

or type 33 FLAGLER AVENUESee Specific City or town, state, and ZIP codeInstructions .

H Check type of organization: LXJ Section 501(c)(3) exempt private foundatio n[] Section 4947(a)(1) nonexempt charitable trust = Other taxable private foundatio n

I Fair market value of all assets at end of year J Accounting method: M Cash Accrual

(from Part fl, col (c), line 16) 0 Other (specify)

111114 3 17 0 0 7 7 . (Part 1, column (d) must be on cash basis )

Part I A nalysis of Revenue an d Expenses (a) Revenue and ( b ) Net investment(The total of amounts In columns (b), (c), an d (d) may not books incomenecessari ly equal the amounts in column (a)) expenses pe r

1 Contributions, gifts, grants, etc., received 701 .182 . 1Cneck 011-0 d the foundattos is not requite~ to attach Sch B

2 Distributions from split-interest trust sInterest on sav i ngs and temporary

3 cash investment s

4 Dividends and interest from securities5 a Gross rent s

b (Net rental incom e or (loss )y Not gain or (loss) from sale of assets not on.1 sa line 1 0C b Gross sales price for all 441,580 .0 > assets on line 6a

NN

or 7 Cap ital gain net in come (from Part IV, line 2)

8 Net short-term capital gain

0 9 Income modification s10a Gross sales less return s

and allowance s

b Less Cost of goods sol d

c Gross profit or (loss)11 Other incom e12 Total . Ad d lines 1 through 1 1

13 Compensat ion of officers, directors, trustees, et c

14 Other employee salaries and wages15 Pension plans, employee benefits16 a Legal fee s

a b Accounting fees ,STMT 4

c Other'professional fees STMT 5

17 Interest

1 8 Taxes

1 9 Depreciation and depletion20 Occupanc y

< 21 Travel, conferences, and meetings

Ar"'

ublications23 ~r ~~s~p~ $TMT 6

25

HulRLMAJE ~RANCE1iiRetu rn of Pr ivate Foundat ion

or Section 4947(a)(1) Nonexempt Charitable TrustTreated as a Private Foundation

Note : The organization may be able to use a copy of this return to satisfy state repo rting requirements

ses and dis6(Oh ments .

4 .729 .

18 .883 .

-1ebiczc f29JJo ~► line 1

a Excess o f re venu e over expe n an d disbursements 681b Net investment inco m e (if negat ive, enter -0- )

c Adjusted net income (if negative, e nter -0- )

LHA For Pa p erwork R e d uction A ct Notice, see the instructions.1

O MB No 15 45-0052

2003

A Employer identification numbe r

0D -vuas L

Telephone numbe r

l//L/ 66J-LJ7 0

C I f exemption applicati on is pendi ng , check here 10.

D 1 . F oreign organizations, c heck here 10.02 . Forei gn organi zati ons meet ing the 85% test . ►=

check here and attach computat io n

E If private foundation status was terminate dunde r section 507(b)( 1 )(A), c hec k he r e ►0

F If the foundation is in a 60-month terminationunder section 507(b)(1 B check her e

(c) Adjusted net (d ) Disbursementsincome for ch aritable purposes

(cash basi s only)

Form 990 -PF (2003)

• MARTIN COUNTY COMMUNITY FOUNDATION,Form 990 -PF(2003) INC .., C!0 T . MICHAEL CROOK

Attached schedules and amounts in the description Beginning of yearCa rt11 Balance Sheets column Shouldbefaren0-0f -y ear amounts only (a) Book Valu eI Cash - non-interest-bearin g2 Savings and temporary cash investments

3 Accounts receivable ►Less: allowance for doubtful accounts ►

4 Pledges receivable ►Less: allowance for doubtful accounts ►

5 Grants receivable6 Receivables due from officers, directors, trustees, and other

disqualified person s7 Other notes and loans receivable 10 .

Less: allowance for doubtful accounts ►8 Inventories for sale or us e

9 Prepaid expenses and deferred charge s10a Investments - U.S . and state government obligations STMT 7

b Investments - corporate stockc Investments - corporate bonds STMT 8

11 Investments - Iand,bwldinpS,anE equipment basis 10 .

Less accumulated deptecWbon No.

12 Investments - mortgage loans

13 Investments - other $TMT 914 Land, buildings, and equipment basis ►

Less accumulated depreciation

15 Other assets (describe ►

17 Accounts payable and accrued expenses

18 Grants payabl e

2 (a 1 9 Deferred revenu e20 Loans from officers, di rect ors, trustees, and other disqualified person s

A 21 Mortgages and other notes payableJ 22 Other liabilities (describe ►

Orga nizati ons that fol low SFAS 117 , c h eck here ► LXJand complete lines 24 thro u gh 26 a n d lin es 30 an d 31 .

~ 24 Unrestricte d~ 25 Temporarily restrictedm 26 Permanently restricte d

Organ izat i ons that do not follow SFAS 117 , check here 00, QL` and comp le te l i nes 27 th rough 31 .t

27 Cap ital stock , trus t p ri ncip a l, o r current fund s

28 Paid-in or capital surplus, or land, bldg ., and equipment fun d29 Retained earnings, accumulated income, endowment, or other funds

Z 30 Total net assets or fund balances

4 .

0U - .End of

Book Va lu e

4030 Paget

Fair Market Valu e5,591 .

205 .271 .

- -- - - - - - I - -- - - - I- -

14 1

1,795,844 . 2,653,0 7

2

2

F_Partjl_j Analysis of Changes in Net Assets or Fund Balances

1

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) . . .2 Enter amount from Part I, line 27 a3 Other increases not included in line 2 (itemize) ► UNREALIZED GAIN ON SECURITIES

4 Add lines 1, 2, and 35 Decreases not included in line 2 (itemize) ►6 Total net assets or fund balances at end of year (line 4 minus line 5) - Pa rt II, column (b), line 30

4 .

Form 990- PF (2003 )3235 1 112-05-03

2

MARTIN COUNTY COMMUNITY FOUNDATION,Form 990-PF (2003) INC,. . CIO T . MICHAEL CROOK

pital Gains and Losses for Tax on Investment Income( a ) List and describe the kind(s) of property sold (e .g., real estate, [b H,2-story brick warehouse; or common stock, 200 shs . MLC Co .) p

b SEE ATTACCde

( e ) Gross sales price

for assets

(i) F. M.V. as of 1 2/3 1 /69

(f) Depreciation allowed(or allowable)

in in column (h) and owned

(j) Adjusted basi sas of 12/31/69

(g) Cost or other basisplus expense of sale

the foundation on 12/31/69(k) Excess of col. (i)over col . ( 1 ), if any

(c Date acquired ( d) Date sold~mo ., day, yr.) (mo., day, yr.)

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

(I) Gains (Col . (h) gain minuscol . (k), but not less than -0-) o r

Losses (from cal . (h))

1 .3 1

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

If ?loss), enter -0- in Part I, line 7

3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6) :If g ain, a ls o e nter in P art I , line 8 , col umn (c) .If (loss), enter -0- in Pa rt 1, line 8

Part V Qualification Under Section 4940(e) for Reduced Tax on Net Inve

(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.

me

3

Was the organization liable for the section 4942 tax on the distributable amount of any year in the base period? Q Yes EX-1 NoIf "Yes," the organization does not qualify under section 4940(e). Do not complete this part .I Enter the approp riate amount in each column for each year ; see instructions before making any entries .

Base peraod years Adjusted qualifying (cassets DisVibudon rati oCalendar vear (or tax vear beammna in) distributions Net value of noncharitable-use (col . (b) divided by col . (c) )

40 4 2

2 'tota l of line 1, column (d )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

4 Enter the net value of noncharitable-use assets for 2003 from Part X, line 5

5 Multiply line 4 by line 3

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

7 Add lines 5 and 6

8 Enter qualifying distributions from Part XII, fine 4 I 8 I 1.s ~ , y 0 0

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

323521 / 12 -05 -03 Form 990 -PF (2003 )3

4 . 44

Form 990-PF

Part VI on1a Exempt operating foundations described in section 4940(d)(2), check here ► U and enter °N/A' on line 1 .

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

b Domestic organizations that meet the section 4940(e) requirements in Part V, check here ► Q and enter 1%

of Part 1, line 27bc All other domestic organizations 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- )

3 Add lines 1 and 24 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only . Others enter -0-)5 Tax ba sed on investment income . Subtract line 4 from line 3 . If zero or less, enter -0-6 Credits/Payments :a 2003 estimated tax payments and 2002 overpayment credited to 2003 6a

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

8 Enter any p en a lty for underpayment of estimated tax. Check here Elf Form 2220 is attached9 T ax due . If the total of lines 5 and 8 is more than line 7, enter a mount owe d

10 Overpayme nt . If line 7 is more than the total of lines 5 and 8, enter the amount ove r paid11 Enter the amount of line 10 to be: C red ited to 2004 esti mated ta x

Pa rt VII -A Statements Regarding Activities

26 .

la During the tax year, did the organization attempt to influence any national, state, or local legislation or did it participate or intervene in

any political campaign?V Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition) ?

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

distributed by the organization in connection with the activities.

c Did the organization file Form 1120-P OL for this year ?d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year :

(1) On the organization .►$ 0. (2) On organization managers .►$ 0.

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

managers.► $ 0 .

2 Has the organization engaged in any activities that have not previously been reported to the IRS?

If 'Yes,' a ttach a detailed description of the activities

3 Has the organization made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or

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

4a Did the organization have unrelated business gross income of $1,000 or more during the year ?V It 'Yes,' has it filed a tax return on Form 990-T for this year? N/A

5 Was there a liquidation, termination, dissolution, or substantial contraction during the year ?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 o r• 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?7 Did the organization have at least $5,000 in assets at any time during the year?

If *Yes,' complete Part fl, col. (c), and Part XV

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

b If the answer is'1'es° to line 7, has the organization 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 explanatio n

9 Is the organization claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendaryear 2003 or the taxable year beginning in 2003 (see instructions for Part XIV)? If 'Yes,' complete Part XIV . .

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

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

Web site address ► N/A

Yes l No

X

12 The books are in care of ► T . MICHAEL CROOK Telephone no. ► (7 7 2) 283- 23 56Located at ► 3 3 FLAGLER AVENUE, STUART, FLORIDA ZIP+4 ►3 4 9 9 4

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

and enter the amount of tax-exempt in terest received or accrued during the year ► 1 13 I N/A

iis oos Form 990-PF (2003 )

MARTIN COUNTY COMMUNITY FOUNDATION,o J - uv Z s %

or 4948 - see i n

4

Form 990-PF (2Pam rt VII-B

MARTIN COUNTY COMMUNITY FOUNDATION ,

F i le Form 4720 if any item is checked i n the " Yes " column , unless an excepti on applies .

in During the year did the organization (either directly or indirectly):

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

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

a disqualified person ?

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

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

o D -vv .fi red

Q Ye s EKI N o

Q Yes Ji N o

Q Yes EE N o

Q Yes EK] N o

0 Ye s Ji N o

(6) Agree to pay money or property to a government official? (Exce p tion . Check "No 'if the organization agreed to make a grant to or to employ the official for a period after

N otermination of government service, if terminating within 90 days .) 0 Yes [Xb If any answer is °Yes° to 1a(1)-(6), did any of the acts fail to qualify under the exceptions described in Regulation s

section 53 .4941(d)-3 or in a current notice regarding disaster assistance (see page 19 of the instructions)? N / A

Organizations relying on a current notice regarding disaster assistance check here

c Did the organization engage in a prior year in any of the acts described in la, other than excepted acts, that were not correctedbefore the first day of the tax year beginning in 2003 ?Taxes on failure to distribute income (section 4942) (does not apply for years the organization was a private operating foundationdefined in section 4942(j)(3) or 4942(j)(5)) :

a At the end of tax year 2003, did the organization have any undistributed income (lines 6d and 6e, Part XIII) for tax year(s) beginnin g

before 2003? 0 Yes EKI N oIf 'Yes," list the years►

b Are there any years listed in 2a for which the organization 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 a ll years listed, answer "No' and attac h

statement - see instructions .) N/Ac If the provisions of section 4942(a)(2) are being applied to a ny of the years listed in 2a, list the years here .

3a Did the organization hold more than a 2% direct or indirect interest in any business enterprise at any tim eduring the year? [--1 Ye s Ek] N o

b If 'Yes," did it have excess business holdings in 2003 as a result of (1) any purchase by the organization or disqualified persons afterMay 26, 1969 ; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to disposeof holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C ,

Form 4720, to determine if the organization had excess business holdings in 2003.) N/A

4a Did the organization invest during the year any amount in a manner that would jeopardize its charitable purposes ?

b Did the organization 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 2003 ?

5a During the year did the organization pay or incur any amount to :(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? E-1 Ye s M N o(2) Influence the outcome of any specific public election (see section 4955) ; or to carry on, directly or indirectly,any voter registration drive? ~ Yes [TC] N o

(3) Provide a grant to an individual for travel, study, or other similar purposes? ~ Yes [XI N o

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

509(a)(1), (2), or (3), or section 4940(d)(2)? ~ Yes Ek] N o(5) Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for

the prevention of cruelty to children or animals? 0 Yes FXI N ob If any answer is'Yes'to 5a(1)-(5), did any of the transactions fail to qualify under the exceptions described in Regulation s

section 53 .4945 or in a current notice regarding disaster assistance (see instructions)? N/ A

Organizations relying on a current notice regarding disaster assistance check here

c If the answer is "Yes' to question 5a(4), does the organization claim exemption from the tax because it maintainedexpenditure responsibility for the grant? N/A 0 Ye s Q N o

If 'Yes, ' a ttach the statement required by Regulations section 53.4945-5(d)

6a Did the organization, during the year, receive any funds, directly or indirectly, to pay premiums o na personal benefit contract? 0 Yes DO No

b Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?If you answered 'Yes' to 6b, also file Form 8870.

Yes I No

nl I x

Form 990 -PF (2003 )

32 354 112-05-03

5

MARTIN COUNTY COMMUNITY FOUNDATION ,• INC., C/0 T . MICHAEL CROOK 65-002 4 03 0

Pert VIII Information About Officers, Directors , Trus tees, Foundation Managers, Highly ~ Pa id Employees, and Contracto rs1 List all officers , d i rector s, trustees, foundation managers and the i r compensation :

(b) Title, and average (c) Compensation (d'

C o ntd b utlon s to (e) Ex p ense(a) Name and address hours p er week devoted (If not pa i d , ems andedeele rr~a

lan e account, otherIO DO SItI 0 f1 enter -0-1 compensation allowance s

pensation of five highest-paid employees (other than those included on line 1) . If no

(b) Title per erage(a) Name and address of each employee paid more than $50,000 h

devoted to position

"NONE."to (e)Expense

account, othe rallowances

Total number of other employees paid over $50,0003 Five highest - paid independent contractors for professional se rvices . If none, enter "NONE ."

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

'otal number of others receiving over $50,000 for professional serv icesPart IX-A Summa ry of Direct Charitable Activi -

(c) Compensatio n

Type of service

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

2

3

4

Expense s

Form 990-PF (2003)6

MARTIN COUNTY COMMUNITY FOUNDATION ,Form 990-PF (2003) INC . . , C/O T . MICHAEL CROOK 65-0024030 Pa g e 7

Pert IX-B Summary of Program-Related Investments

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

1

2

All other program-related investments . See instructions .3

Tota l . Add lines 1 th rough 3 ►

Part X minimum investment Return (,qJ l dome s t ic foundat ions must comp lete this part . Fore i gn fou ndati ons , see instructions )

I 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 securitie s

b Average of monthly cash balances _

c Fair market value of all other asset s

d Total (add lines la, b, and c )e Reduction claimed for blockage or other factors reported on lines la an d

is (attach detailed explanation) le

2 Acquisition indebtedness applicable to line 1 asset s

3 Subtract line 2 from line i d4 Cash deemed held for charitable activities . Enter 1 1/2% of line 3 (for greater amount, see instructions)5 N et value of nonch a rit a ble-use asset s . Subtract line 4 from line 3 . Enter here and on Part V, line 46 M inimum investment return . Enter 5% of line 5Pert XI Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain

foreign organizations check here ► 0 and do not complete this part )

1 Minimum investment return from Part X, line 62a Tax on investment income for 2003 from Part VI, line 5 2a

b Income tax for 2003. (This does not include the tax from Part VI .) 2bc Add lines 2a and 2 b

3 Distributable amount before adjustments . Subtract line 2c from line 14a Recoveries of amounts treated as qualifying distributions 4ab Income distributions from section 4947(a)(2) trusts 4bc Add lines 4a and 4b

5 Add lines 3 and 4 c

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

Part 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 1 a 135,968 .b Program-related investments - Total from Part IX-B 1b 0 .

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

3 Amounts set aside for specific charitable projects that satisfy the :a Suitability test (prior IRS approval required) 3ab Cash distribution test (attach the required schedule) 3 b

4 Qualifying distributions . Add lines la through 3b . Enter here and on Part V, line 8, and Part XIII, line 4 4 135,968 .

5 Organizations that qualify under section 4940(e) for the reduced rate of tax on net investmen tincome. Enter 1% of Part I, line 27b 5 0 .

6 Adjusted qualifying distributions . Subtract line 5 from line 4 6 135,968 .

Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for the section

4940(e) reduc tion of tax in those yea rs.

Form 990-PF (2003)

sxasei12-05-03

7

MARTIN COUNTY COMMUNITY FOUNDATION ,Form 990-PF (2003) INC ,. , C/O T . MICHAEL CROOK 65-0024030 Page e

Part XIII Undistributed Income (see instructions)

(a) ( b) (c) (d)Corpus Yea rs pr ior to 2002 2 002 2003

1 Distributable amountfor 2003 from Part XI, line 7

2 Undi str ibuted income , if any, as of the end of 200 2

a Enter amount for 2002 onlyb Total for prior years:

3 Excess distributions carryover, if any, to 2003:

a From 199 8

b From 1999c From 200 0dFrom 2ool 24,638 .e From 200 2f Tot a l of lines 3a through e

4 Qualifying distributions for 2003 fro mPart XII, line 4 : ► $ 135,968 .

a Applied to 2002, but not more than line 2ab Applied to undistributed income of prior

years (Election required - see instructions)

c Treated as distributions out of corpu s

(Election required - see instructions)d Applied to 2003 distributable amoun te Remaining amount distributed out of corpus

5 Excess d istributions carryover appl ied to 2003Of an amount appears in column ( d), the same amountmust be shown in column (a) )

6 Enter the net tota l of e a ch column a sin d icated b elo w:

a Corpus Add li nes 3f, 4c , and 4e Subtract l ine 5

b Prior years' undistributed income . Subtractline 4b from line 2b

c Enter the amount of prior years'undistributed income for which a notice ofdeficiency has been issued, or on whic hthe section 4942(a) tax has been previouslyassesse d

d Subtract line 6c from line 6b . Taxableamount - see instruction s

e Undistributed income for 2002 . Subtract line4a from line 2a. Taxable amount - see instr .

f Undistributed income for 2003 . Subtractlines 4d and 5 from line 1 . This amount must

be distributed in 2004

7 Amounts treated as distributions out ofcorpus to satisfy requirements imposed bysection 170(b)(1)(E) or 4942(g)(3 )

8 Excess distributions carryover from 1998

not applied on line 5 or line 7

9 Excess distrib utions c a rryover to 200 4 .Subtract lines 7 and 8 from line 6a

10 Analysis of line 9:a Excess from 1999b Excess from 2000c Excess from 2001 24,6 3 8 .d Excess from 2002

32357 112-05-03

Form 990- PF (2003 )

8

Form 990-P FPart xiv (see instruct ions and Part VII-A,

1 a If the foundation has received a ruling or determination letter that it is a private operatin gfoundation, and the ruling is effective for 2003, enter the date of the ruling 101.

b Check box to indicate whether the organization is a private operating foundation described in sectio n2 a Enter the lesser of the adjusted net Tax year

income from Part I or the minimum (a) 2003

investment return from Part X fo r

each year listedb 85% of line 2ac Qualifying distributions from Part XII,

line 4 for each year listedd Amounts included in line 2c not

used directly for active conduct ofexempt activitie s

e Qualifying distributions made directly

for active conduct of exempt activities .

Subtract line 2d from line 2cComplete 3a, b, or c for th ealternative test relied upon :

a 'Assets° alternative test - enter :(1) Value of all assets

(2) Value of assets qualifyingunder section 4942( j )(3)(B)(i)

b "Endowment' alternative test - Enter2/3 of minimum investment returnshown in Part X, line 6 for each yearliste d

c 'SupporC alternative test - enter:(1) Total support other than gross

investment income (interest,dividends, rents, payments onsecurities loans (section512(a)(5)), or royalties)

(2) Support from general publicand 5 or more exemptorganizations as provided insection 4942(j)(3)(B)(ui )

(3) Largest amount of support froman exempt organization

Prior 3 years( b) 2002 (c) 2001 (d) 2000 (e) Tota l

Part XV Supplementa ry Information (Complete this pa rt only if the organization had $5 , 000 or more in assetsat any time during the year -see page 25 of the instructions .)

1 Information Regarding Foundat i on 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) . )

NONEU 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 p artnership or

other entity) of which the foundation has a 10% or greater interes t

NONE2 Information Regarding Con tr ibution , Grant, Gift, Loan, Scholarship , etc ., Programs:

Check here ► Q if the organization only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds . Ifthe orga ni zation makes gifts, grants, etc. (see instructions) to in dividuals or organi zations 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 :MARTIN COUNTY COMMUNITY FOUNDATI ON , P . O . BOX 251 , STUART , FL 3499 5

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

SEE STATEMENT 1 1c Any submission deadlines:

SET BY HIGH SCHOOL GUIDANCE COUNSELOR'S OFFIC Ed Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors :

AWARDS ARE GIVEN TO GRADUATES OF MARTIN COUNTY HIGH SCHOOLS, IN

COMPLIANCE WITH DONOR RESTRICTIONS .323581 /0140-04 Form 990 -PF (2003 )


9


1 0323801 / 12 -05 -03 Form 990 -PF (2003)

• MARTIN COUNTY COMMUNITY FOUNDATION ,Form 990-PF (2003) INC,., C/O T . MICHAEL CROOK 65-0024030

Part XVI-A Analysis of Income-Producing Activitie s

Enter gross amounts unless otherwise indicated .

1 Progr am service r even ue:

si

b

cd

et

g Fees and contracts from government agencie s

2 Membership dues and assessments3 Interest on savings and tempora ry cash

investments4 Dividends and interest from securi tie s5 Net rental income or (loss) from real estate :

a Debt-financed proper ty

b Not debt-financed proper ty

6 Net rental income or (loss) from personalproperty _

7 Other investment in com e8 Gain or (loss) from sales of assets other

than invento ry9 Net income or (loss) from special event s

10 Gross profit or (loss) from sales of invento ry

11 Other revenue :

a NET PARTNERSHIP LOSS

b

c.d

umeiaieu uusuiess uiWme Exclu(jecoy section o,z o,j or „4 ( e )(a) (b) E,cc „- (d) Related or exempt

Business Amount Sion Amount function incomecode rode

1 1

e12 Subtotal . Add columns (b), (d), and (e) <64 . 136 , 527. 0.

13 Total . Add line 12, columns (b), (d), and (e) 1 3 136,463 .(See worksheet in line 13 instructions to verify calculations.)

Part XVI - B Relat ionsh i p of Act i v i t ies to the Accomplishment of Exempt Pu rposes

1 1

323e 1112-05-03

Form 990 -PF (2003)

MARTIN COUNTY COMMUNITY FOUNDATION ,Form 990-PF (2003) INC,. , C/O T . MICHAEL CROOK 65-0024030 Pa e 12Part XVII Information Regarding Transfers To and Transactions and Relationships With Noncharitable

Exempt Organization sDid 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 ?

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

(1) Cas h

(2) Other assetsOther transactions:(1) Sales of assets to a noncharitable exempt organization lb(l)

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

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

( 4 ) Reimbursement arrangements lb(4)

(5) Loans or loan guarantees lb(5)

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

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

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 organization. If the organization received less than fair market value in any transaction or sharing arrangement, show i n

Name of organizatio n

Under penalt i declare that I hand comp) e Dec anon o preparer loth(

'Signatu r off

za -A

icer or ustee~

~ Preparer's'(Al~ signa tur e

n~a C LO Frm's name (or yours H LL

"sell-employed), ' 1 0 0 0

add ress , an dll PCade CmTTn

of of relationsh

th is r eturn, including accompanying sch edules an d statement s, and to the be st of my kn ow ledge an d belief, it is true, correct,r or fiduciary) is b ased on all info rm ation of Whic h prpparer has any kn ow ledge

BARTH & KING LLCSE MONTEREY COMMO

No

X

X

3238 2112-05-0 3

2a Is the organization directly or indirectly affiliated with, or related to, one or more tax-exempt organizations describe din section 501(c) of the Code (other than section 501(c)(3)) or in section 527? = Yes OX No

Schedule B( Form 990, 990-EZ, or

990-PF)Dep a rt ment of the Tre asuryInternal R even ue Se rvice

MARTIN COUNTY COMMUNITY FOUNDATION ,Name of organization

O rgani za t ion ty pe (check one):

F ilers of: Section :

Fo rm 990 o r 990- EZ

Fo rm 990 -PF

Schedule of ContributorsSupplementary Information fo r

line 1 of Form 990, 990-EZ, and 990-PF (see instructions)

501 (c)( ) (enter number) organization

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

527 political organization

501 (c)(3) exempt private foundation

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

501 (c)(3) taxable private foundation

OMB N o 1 545 - 0047

2003Emp l oyer ide ntifica t ion numbe r

s;q_nn')dni n

Check if your organization is covered by the G en eral Rule or a Special R ule . ( Note : Only a sec tion 501(c)(7), (8), or (10) organization can check box(es)

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

G en eral R ule-

EX-1 For organi zat ions filin g Form 990, 9 90- EZ , or 990 - PF t h at received , during the y ea r, $5 ,000 or m ore (in m on ey or p ro perty) fr om an y one

cont ributor . ( Comp lete Part s I and II .)

Special Rules -

ED For a sec t ion 501 (c)(3) orga nization filin g Fo rm 990 , o r F orm 990 • EZ, that met the 33 1/3% suppo rt test of th e reg ul at ion s u n der

section s 509 (a)( 1 )/1 70 ( b)(1 )(A)(v) and rece ived from any one c o nt rib uto r, du ri ng the yea r, a contri but ion of the greater of $5 ,000 or 2%

of the amount on li ne 1 of th ese fo rm s . (Co mpl ete Parts I and II .)

ED For a se c t io n 501(c)(7),(8), or ( 1 0) o rganization filing For m 9 90, or Form 990- EZ, that received fr om an y one contributo r , d u rin g the yea r ,

agg regate contri but ions or b e q ue sts of more than $1 ,000 for use exclusively for re li gio us, charitable, scient i fic, litera ry, or ed uc at iona l

purpose s, or the p re v enti on of cruel ty to ch ildren or animals. ( Co mp let e Parts I, II, and III )

For a sec t ion 501 (c)(7), (8), or ( 10) o rganization filing Fo r m 990, or Form 990- EZ, that re c eive d fr om an y one contri buto r, d uri ng the yea r,

some contri buti ons for use exclusive ly for re li g io us , charitab l e , etc ., purposes, but these contri but ion s d id not agg regate to mor e tha n

$1 ,000 (If this box is che c ked , enter her e the tota l co nt ri b ut i on s that we re receiv ed d uri ng t he yea r for an exclusively religious ,

chartabl e, etc ., purpose. Do n ot comp lete any of the Parts u nless the General Rule app lies to t his organization because i t receiv ed

nonexclusive ly re li gi ous, charitable, etc ., c ont ri but i ons of $5 ,000 o r mo re d urin g the year.) ► $

Caution : Orga niza tion s that are not covered by the Ge neral Rule and/or the Special Rules do not file Schedule B (Form 990, 990- EZ, or 990-PFD, but

they must check the box in the heading of the ir Form 990, Form 990- EZ, or on line 1 of their Form 990-PF, to certify that th ey do no tmeet the filing

requirements of S chedule B (Form 990, 990-EZ, or 990-PF) .

LH A For Paperwork Reduction Act Notice , see the Instructions Schedule B (Form 990 , 990- EZ , or 990 - PF) (2003 )fo r Form 990 and Form 990- EZ

32345 1 1 2 -05-03

13

Schedul e B (Form 990, 990-EZ, or990-PF) (2003) Page 1 to 1 of Pwt I

Name of organization Employer identification number

MARTIN COUNTY COMMUNITY FOUNDATION ,INC ., C/O T . MICHAEL CROOK 65-0024030

Part I Contributors (See Specific Instructions .)

(a) (b) (c) (d)No. Name, address, and ZIP + 4 Aggregate con tributions Type of con tribution

1 JEAN E . MERRILL TRUST Person EK]Payroll

P . 0 . BOX 2292 $ 654,920 . Noncash Q(Complete Pa rt II if there

STUART, FL 3 4 9 9 5 is a noncash contribution)

(a) (b) (c) (d)

No. Name, address, and ZIP + 4 Aggregate contributions Type of con tribution

PersonPayroll

$ Noncash Q

(Complete Part II if thereis a noncash contribution )

(a)No.

(b)ass, an d Z I P + 4

(c) (d)contributions Type of con tr ibution

Person Q

Payroll Q

Noncash

( Co m plete Pa rt II if the reis a noncash cont ri b uti on .)

(c) (d)

contributions Type of contributio n

Person Q

Payrol l

Noncash

(Comp lete Part II if the reis a nonc as h co n t ri but i on . )

(c) (d)

contributions Type of contr ibution

Person Q

PayrollNoncash Q

(Comp lete Part II if the reis a noncash co nt rib ution .)

(c ) (d)

contributions Type of contributio n

Person QPayroll 0

Noncas h

(Comp lete Part II if thereis a noncash co ntri but i on .)

S c hed ule B ( Form 990 , 990-EZ, or 990-PF) ( 2003 )

(a)No.

(b )ass, an d ZIP + 4

(a)No.

(b)ass. and ZIP + 4

(a)

No.

(b)ss . and ZIP + 4

323452 1 2 -05-03

14

MARTIN COUNTY COMMUNITY FOUNDATION, CONTINUATION FOR 990-PF, PART IV

INC ., 'C/O T . MICHAEL CROOK 65-0024030 PAGE 1 OF 2

Pert IV Capital Gains and Lopes for TO on Investment Incom e

(a) List and describe the kind(s) of property sold, e .g., real estate, (b How acquired (c Date acquired (d) Date sold2-story brick warehouse; or common stock, 200 shs . MLC Co. ~ -Purchas

e D - Donation ~mo., day, yr .) (mo., day, yr . )

1a LEGG MASON FINANCIAL SERVICES FUND - ACCT#385-009 P 12/05/0002/04/04bLEGG MASON OPPORTUNITY TRUST - ACCT#385-00929 P VARIOUS VARIOUSc LEGG MASON OPPORTUNITY TRUST - ACCT#385-044 42 P VARIOUS VARIOUSd LEGG MASON FINANCIAL SERVICES FUND - ACCT#3e LEGG MASON OPPORTUNITY TRUST - ACCT#385 - 004f WASHINGTON MUTUAL INVS FUND - ACCT#385 - 0202u ENTERPRISE GROUP FUNDS - ACCT#385 - 0202 1h AMERICAN BALANCED FUND - ACCT#385 -02021i AMCAP FUND , INC - ACCT#385 -02021

-00 4 PP

I LEGG MASON FINANCIAL SERVICES FUND - ACCT o~- vi v rk ENTERPRISE GROUP FUNDS - ACCT#385 -01623 PILEGG MASON FINANCIAL SERVICES FUND - ACCT#385 - 009 P

(e) Gross sales price

G

1,E2 .]

:0 INC NOTEGAS, 7 .3 7

(f) Depreciation allowe d( o r a llowa b le)

DUE 6/15/045%, DUE 9/18/E 03/01/1 4( g) Cost or other basisplus expense of sale

370 .

III

( h ) Gain or (loss)(e) p lus (f) minus (g )

1

flh

i 50m 25,00n 19,000 12,25

Complete only for assets st

(i) F .M .V. as of 12/31/69

c

d

e

f

flh

1k

2

Ifa 2 Capital gain net income or (net capital loss) ~lossj tenter "-0-"nm Part I, line 7 }

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

32350 105-01-03

26,140 . <1,140.>19,582 . <582 .>12,889 . <633 .>

in col um n (h) and owne d b y th e fo undation on 1 2/3 1 /69 (I) Losses (fro m col . ( h ))(j) Adjusted basis (k ) Excess of col . (i) Gains (excess of col . (h) gain over col. (k),

as o f 12/31/69 over col. (1), if an y b u t not less than '-O')

15

MARTIN COUNTY COMMUNITY FOUNDATION,INC ., C/O T . MICHAEL CROOKPart IV Capital Gains and Losses for Tex on Investment Incom e

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

1a LEGG MASON SPECIAL INVST TRUST - ACCT#bLEGG MASON FINANCIAL SERVICES FUND - Ac LEGG MASON OPPORTUNITY TRUST - ACCT#38d LEGG MASON FINANCIAL SP_R1Trrl7c 'Prnan - n

e CAPITAL GAINS DIVIDENDf

h

1k

m

n

b

(e) Gross sales pric e

281 . (

h

m

Complete only for assets s

(i) F. M .V. as of 12/31/69

abc

f

mn

CONTINUATION FOR 990-PF, PART IV65-0024030 PAGE 2 OF 2

( b How acquired (c Date acquired (d ) Date sold-Purchase ~mo., day, yr.) (mo., day, yr.)D - Donatio n85-00182 P VARIOUS VARIOUSCT#385-001 P VARIOUS VARIOUS-00182 P VARIOUS ARIOUSCT#385-009 P ARIOUS ARIOUS

(f) Depreciation allowed I ( g ) Cost or other basis(or allowable) plus expense of sale

in column (h) and owned by the foundation on 12/31/69

(j) Adjusted basis (k) Excess of col. (i )as of 12/31/69 over col . ( 1 ), if any

2 Capital gain net income or (net capital loss) If ain, also enter in Part I, line 7~ If ?loss), enter '-02* in Part I, line 7

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 Pa rt 1, line 8

32359105-01-03

14 .

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

(I) Losses (from col. (h) )Gains (excess of col. (h) gain over col . (k),

but not less than '-0-")

1

16

MARTIN COUNTY COMMUNITY FOUNDATION , INC. 65 -0024030

FORM 990 -PF INTEREST ON SAVINGS AND TEMPORARY CASH INVESTMENTS STATEMENT 1

SOURCE

HARBOR FEDERAL ACCT - 0002132237LEGG MASON ACCT - 385 - 0047 4LEGG MASON ACCT - 385 - 03256SEACOAST ACCT - 7Z4 -16369 3

TOTAL TO FORM 990 - PF , PART I , LINE 3 , COLUMN A

AMOUNT

272 .54 .

<531 .>14,934 .

14,729 .

FORM 990 -PF DIVIDENDS AND INTEREST FROM SECURITIES STATEMENT 2

SOURCE

FIRST NATIONAL BANK - OK7 - 094455LEGG MASON ACCT - 385 - 0018 2LEGG MASON ACCT - 385 -00474LEGG MASON ACCT - 385 -00928LEGG MASON ACCT - 385 -00929LEGG MASON ACCT - 385-00934LEGG MASON ACCT - 385 - 01622LEGG MASON ACCT - 385 - 01623LEGG MASON ACCT - 385 - 02021LEGG MASON ACCT - 385 - 03256LEGG MASON ACCT - 385 - 04442SEACOAST ACCT - 7Z4 -163693

GROSS AMOUNT

3 .20,747 .11,369 .2,575 .2,458 .403 .314 .

11,477 .10,144 .

964 .755 .234 .

CAPITAL GAINSDIVIDENDS

0 .18,461 .10,092 .2,084 .2,112 .

345 .0 .

9,777 .6,594 .

814 .682 .

0 .

COLUMN (A)AMOUNT

3 .2,286 .1,277 .

491 .346 .58 .

314 .1,700 .3,550 .

150 .73 .

234 .

TOTAL TO FM 990 - PF , PART I , LN 4 61 , 443. 50 , 961. 10 , 482 .

FORM 990 -PF OTHER INCOME STATEMENT 3

DESCRIPTION AMOUNT

NET PARTNERSHIP LOSS <64 . >

TOTAL TO FORM 990-PF, PART I, LINE 11, COLUMN A <64 . >

1 7 STATEMENT ( S ) 1 , 2 , 3

MARTIN COUNTY COMMUNITY FOUNDATION, INC. 65-0024030

FORM 990-PF ACCOUNTING FEES STATEMENT 4

DESCRIPTION

LEGAL AND ACCOUNTING FEE S

TO FORM 990-PF, PG 1 , LN 16B

(A)EXPENSESPER BOOKS

7,182 .

7,182 .

(B)NET INVEST -MENT INCOME

7, 182 .

7,182 .

(C) (D)ADJUSTED CHARITABLENET INCOME PURPOSES

0 .

0 .

FORM 990 -PF OTHER PROFESSIONAL FEES STATEMENT 5

DESCRIPTION

BOOKKEEPING FEESCONSULTING FEESPROMOTIONAL EXPENSE

TO FORM 99 0- PF , PG 1 , LN 16C


3,425 .15,362 .

96 .

18 , 883 .

(B)NET INVEST-MENT INCOME

3,425 .7,681 .

0 .

11,106 .


0 .7,681 .

96 .

7,777 .

FORM 990 -PF OTHER EXPENSES STATEMENT 6

DESCRIPTION

TELEPHONE EXPENSEINSURANCE EXPENSEOFFICE SUPPLIESLICENSE SBANK CHARGESBOARD MEETING EXPENSE

TO FORM 990-PF, PG 1, LN 23


433 .348 .704 .261 .650 .514 .

2,910 .

( B )NET INVEST -MENT INCOME

0 .348 .

0 .261 .650 .257 .

1 , 516 .

18


433 .0 .

704 .0 .0 .

257 .

1,394 .

STATEMENT(S) 4, 5, 6

MARTIN COUNTY COMMUNITY FOUNDATION, INC. 65-0024030

FORM 990-PF U .S . AND STATE/CITY GOVERNMENT OBLIGATIONS STATEMENT 7

U .S . OTHER FAIR MARKETDESCRIPTION GOVT GOVT BOOK VALUE VALUE

GOVERNMENT BONDS X 124,000 . 124,000 .

TOTAL U .S . GOVERNMENT OBLIGATIONS 124,000 . 124,000 .

TOTAL STATE AND MUNICIPAL GOVERNMENT OBLIGATION S

TOTAL TO FORM 99 0-PF , PART II , LINE 10A

FORM 990 - PF CORPORATE BONDS

DESCRIPTION

CORPORATE BONDS

TOTAL TO FORM 99 0- PF , PART II , LINE 10C

124,000 . 124,000 .

FAIR MARKETBOOK VALUE VALUE

182,141 . 182,141 .

182,141 . 182,141 .

STATEMENT 8

FORM 990 -PF OTHER INVESTMENTS STATEMENT 9

DESCRIPTION BOOK VALUEFAIR MARKET

VALUE

MUTUAL EQUITY FUNDSINVESTMENTS IN LIMITED PARTNERSHIPSPREFERRED STOCK

TOTAL TO FORM 990-PF, PART II, LINE 13

2,597,961 .5,113 .

50,000 .

2,653,074 .

2,597,961 .5,113 .

50,000 .

2,653,074 .

19 STATEMENT ( S ) 7, 8 , 9

MARTIN COUNTY COMMUNITY FOUNDATION, INC . 65-0024030

FORM 990-PF PART VIII - LIST OF OFFICERS, DIRECTORS STATEMENT 10TRUSTEES AND FOUNDATION MANAGERS

NAME AND ADDRESS

FLOYD D. JORDAN33 FLAGLER AVENUESTUART, FL 34994

WILLIAM C . FOWLER33 FLAGLER AVENUESTUART, FL 34994

THOMAS E . WEBER, JR .33 FLAGLER AVENUESTUART, FL 3499 4

T . MICHAEL CROOK33 FLAGLER AVENUESTUART, FL 34994

ANN CRARY33 FLAGLER AVENUESTUART, FL 34994

TITLE ANDAVRG HRS/WK

PRESIDENT5

VICE PRESIDENT2

SECRETARY1

TREASURER4

DIRECTOR2

COMPEN-SATION

0 .

0 .

0 .

0 .

0 .

EMPLOYEEBEN PLAN EXPENSECONTRIB ACCOUNT

0 . 0.

0. 0.

0 . 0 .

0. 0 .

0. 0 .

TOTALS INCLUDED ON 990-PF, PAGE 6, PART VIII 0. 0. 0.

FORM 990-PF PART XV, LINE 2B STATEMENT 11APPLICATION REQUIREMENTS

DESCRIPTION

APPLICATIONS FOR SCHOLARSHIPS SHOULD BE SUBMITTED IN THE ORDER PRESCRIBEDBY THE LOCAL HIGH SCHOOL .

20 STATEMENT(S) 10, 11

MARTIN COUNTY COMMUNITY FOUNDATION, INC . 65-0024030

FORM 990-PF GRANTS AND CONTRIBUTIONS STATEMENT 12PAID DURING THE YEAR

RECIPIENTRECIPIENT NAME AND ADDRESS STATUS PURPOSE OF GRANT

ALL SAINTS EPISCOPAL PUBLIC SUPPORT THECHURCH, 2303 NE SEAVIEW DR, CHARITY CHARITABLEJENSEN BEACH, FL 34957 FUNCTION

DEBBY BROWN, 1200 SW DYER INDIVIDUAL TUTOR DYSLEXICPT . RD ., PALM CITY, FL CHILDREN3499 0

EMORY UNIVERSITY, ATLANTA, EDUCATION SCHOLARSHIPS FORGA 30322 ENTITY AWARD RECIPIENTS

FLORIDA ATLANTIC EDUCATION SCHOLARSHIPS FORUNIVERSITY, 777 GLADES ENTITY AWARD RECIPIENTSROAD, BOLA BATON, FL

FLORIDA SHERIFFS YOUTH PUBLICRANCH, P .O . BOX 2000, BOYS CHARITYRANCH, FL 3206 0

FLORIDA SOUTHERN COLLEGE,111 LAKE HOLLINGSWORTH DR,

SUPPORT THECHARITABLEFUNCTION

EDUCATION SCHOLARSHIPS FORENTITY AWARD RECIPIENT S

LAKELAND, FL 33801-569 8

FLORIDA STATE UNIVERSITY, EDUCATION SCHOLARSHIPS FOROFFICE OF FINANCIAL AID, ENTITY AWARD RECIPIENTSTALLAHASSEE, FL 3230 6

GEORGIA INSTITUTE OF EDUCATION SCHOLARSHIPS FORTECHNOLOGY, ATLANTA, GA ENTITY AWARD RECIPIENTS3033 2

HUMANE SOCIETY, 4100 S .W .LEIGHTON FARM AVE ., PALMCITY, FL 3499 0

INDIAN RIVER COMMUNITYCOLLEGE, 3209 VIRGINIAAVE ., FT . PIERCE, FL 3498 1

JESUS HOUSE OF HOPE, P .O .BOX 762, STUART, FL34995-076 2

LOUSIANA TECH UNIVERSITY,P .O . BOX 3178, RUSTON, LA71272

PUBLIC SUPPORT THECHARITY CHARITABLE

FUNCTION

EDUCATION SCHOLARSHIPS FORENTITY AWARD RECIPIENT S

PUBLIC SUPPORT THECHARITY CHARITABLE

FUNCTION

EDUCATION SCHOLARSHIPS FORENTITY AWARD RECIPIENTS

RECIPIENTRELATIONSHP AMOUNT

NONE

4,771 .

NONE

3,710 .

NONE

NONE

1,000 .

1,250 .

NONE

NONE

954 .

2,500 .

NONE

NONE

3,500 .

2,500 .

NONE

2,386 .

NONE

1,000 .

NONE

2 , 385 .

NONE

1,250 .

2 1 STATEMENT ( S ) 12

MARTIN COUNTY COMMUNITY FOUNDATION, INC .

MARTIN MEMORIAL FOUNDATION, PUBLIC SUPPORT THEP .O . BOX 9010, STUART, FL CHARITY CHARITABLE34995 FUNCTION

PAM BAKER, 1775 S .W . ST . INDIVIDUAL TUTOR DYSLEXICANDREWS DR ., PALM CITY, FL CHILDREN34990

RIO VOLUNTEER FIRE DEPT ., GOVERNMENT SUPPORT THE977 N .E . DIXIE HWY, JENSEN ENTITY CHARITABLEBEACH, FL 34957 FUNCTION

SYLVAN LEARNING CENTER, 955 CORPORATE SUPPORT THECENTRAL PKWY, STUART, FL ENTITY CHARITABLE34994 FUNCTION

TROVERS BOYS RANCH, 1490 PUBLIC SUPPORT THES .E . COVE ROAD, STUART, FL CHARITY CHARITABLE3499 7 FUNCTION

TUFTS UNIVERSITY, MEDFORD, EDUCATION SCHOLARSHIPS FORMA 02155 ENTITY AWARD RECIPIENTS

UNIVERSITY OF FLORIDA, P .O. EDUCATION SCHOLARSHIPS FORBOX 114025, GAINESVILLE, FL ENTITY AWARD RECIPIENTS32611.

UNIVERSITY OF CENTRAL EDUCATION SCHOLARSHIPS FORFLORIDA, 4000 CENTRAL ENTITY AWARD RECIPIENTSFLORIDA BLVD ., ORLANDO, FL

IRCC FOUNDATION, INC, 3209 EDUCATION SCHOLARSHIPS FORVIRGINIA AVE ., FT . PIERCE, ENTITY AWARD RECIPIENTSFL 3498 1

MS . PAT CAPELLA, 1058 SW INDIVIDUAL TUTOR DYSLEXICWESTMINSTER PLACE, STUART, CHILDRE NFL 3499 7

TALLAHASSEE COMMUNITY EDUCATION SCHOLARSHIPS FORCOLEGE, OFFICE OF FINANCIAL ENTITY AWARD RECIPIENTSAID, TALLAHASSEE, FL 3230 4

PALM BEACH ATLANTIC EDUCATION SCHOLARSHIPS FORCOLLEGE, 901 S FLAGLER DR ., ENTITY AWARD RECIPIENTSWEST PALM BEACH, FL 3341 6

UNIVERSITY OF SOUTH EDUCATION SCHOLARSHIPS FORFLORIDA, 4202 E FOWLER ENTITY AWARD RECIPIENTSAVE ., SVC 1102, TAMPA, FL

TREASURE COAST PLANNED EDUCATION SUPPORT THEGIVING COUNCIL, P .O . BOX ENTITY CHARITABLE335, STUART, FL 34995 FUNCTION

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

NONE

65 - 002403 0

4,771 .

3,300 .

2,385 .

3 , 285 .

1,431 .

1,250 .

4 , 900 .

3,000 .

50,000 .

990 .

1,000 .

500 .

2 , 500 .

2,500 .

22 STATEMENT(S) 12

MARTIN COUNTY COMMUNITY FOUNDATION, INC .

PALM CITY YOUTH FOOTBALL, PUBLIC SUPPORT THEP .O . BOX 1792, PALM CITY, CHARITY CHARITABLEFL 34991 FUNCTION

VANGUARD CHARITABLE PUBLIC SUPPORT THEFOUNDATION, P .O . BOX 3075, CHARITY CHARITABLESOUTHEASTERN, PA 19398 FUNCTION

M.I .S .S ., 3820 SE DIXIE PUBLIC SUPPORT THEHIGHWAY, STUART, FL 34997 CHARITY CHARITABLE

FUNCTION

TOTAL TO FORM 990 -PF , PART XV , LINE 3A

NONE

NONE

NONE

65 - 002403 0

2,500 .

10,000 .

5,279 .

126,797 .

23 STATEMENT(S) 12

FORM 990 -PF , RECONCILIATION OF LEGG MASON PORTFOLIOSTATEMENTS TO SUPPLEMENTAL STATEMENTS 7 , 8 AND 9

MARTIN COUNTY COMMUNITY FOUNDATION , INC .FEIN 65-0024030

ACCOUNTNUMBER385 -00182

LEGG MASON EQUITY FUNDS

385 -00474LEGG MASON EQUITY FUNDS




385 -01623LEGG MASON EQUITY FU N DS

385-0202 1LEGG MASON EQUITY FU N DS

385 -03256LEGG MASON

385-04442LEGG MASON EQUITY FUNDS

OK7 -094455MUTUAL FUNDS

7Z4 -163693

PREFERRED CORPORATE GOVERNMENTSTOCK BONDS BONDS

50,000.00

23 , 908 . 00

113 , 124 . 00

CORPORATE BONDS 1 82 , 141 . 00

change

TOTALS 50,000.00 182,141 .00 124,000.00 2,597,961 .00

SEE SEE SEE SEESTMT. 9 STMT. 8 STMT. 7 STMT. 9

MUTUALEQUITYFUNDS

569,532 .00

382 ,339 . 00

117, 980 .00

79,893 .00

7,41700

375,711 . 00

438 , 027 . 00

124 ,000 .00 490,030 . 00

PREMIER ACCOUNTA C C 0 U N T Legg Mason Wood Walker, Inc.STATEMENT Member New York Stock Exchange,Inc JMem ber5 l P C

ACCOUNT NO. 385-001821 THE MARTIN COUNTY II COMMUNITY - FOUNDATION INC - SCHROEDER FUND ACCOUNT I JUNE 1-JUNE 30, 2004 PAGE 11 OF 66

PORTFOLIO SUM MARY

The calculation of unrealized gains/losses is prepared from cost basis information provided by you, your Financial Advisor, or our transaction files . P l ease contactyour F inancial Advisor should you need to amend the repo rted information .

An 'L' next to the Unrea lized Ga in o r L o ss i n d i cates a l o ng te r m ga in /l oss , an d 'S' ind icates a sho rt te rm ga i n/ l oss .

CASH AND CASH EQUIVALENTS : 0 .00% of Po rt folio

Money Market Fund s

Quant ity Descri ption Current Pr ice Balance 7-Day Y i eld

0 26 LEGG MASON CASH RESERVE $1 .00 $0. 26 050%

TRUS T

MUTUAL FUNDS : 100 .00% of PortfolioEstimated

Date Total Cost Cur rent Market Unrealized Annual CurrentQuantity Descr i pt ion Symbol Un it Cost Acquired Basis Price Value Gain/Loss Income Yield574612 "LEGG MASON OPPORTUN ITY TRUST LMOPX $11 .04 06/07/00 $6,344 $8 ,498 .51 $2 , 155 L1 ,992 032 12 .55 0924143 25 ,000 29 , 462 .15 4 ,462 S89 058 RE INVESTMENTS 9 .39 Va rious 836 1 ,31717 481 L9.269 RE I NVESTMENTS 1327 Vari ous 123 137 . 09 14S2 ,664 .971 SUB TOTAL 12.12 32,303 14 .79 39,414 .92 7 , 11 2

14,552.446

850.25

15 , 402.69 6

64 6940 5883 .9740 .3090 . 10271 . 99955 . 47585 905

1,183 .037

**LEGG MASON F INANC IALSERVI CES FUN D

RE INVESTMENTS

SUB TOTAL

"LEGG MASON VALUE TRUS T

REINVESTMENTS

SUB TOTAL

LMFNX 10 .39

1460

10 . 6 2

LMVTX 27 . 4730 . 6132 . 7132 . 3629 . 4169. 6152. 3357 . 21

62 .29

1?J29/98 . . ... . . . '151,200

Various 12,41 6

163,616

05 129!9610/30/9612J 19l961 2/1 9 /961 2/27/9603/11/9909/2M03Various

214,066 .48 62,866 L

12,507.18 91 S

14 .71 226 , 673 .68 62 ,957

1,777 .1 8

13010

5,01 150 .0004,915

8 1,884 80.1 9

3 ,893. 9335.39

2392018 . 606 . 1 4

4, 333.0857 , 510. 045 , 170. 62

71,207 .00

2,11117 L

109 LL

L` 678) L7 ,510 S

256 L

9,343

274 0319080 ZIP 35 PP01 071021 04;5 :0 8 0 8 039002 015100 3 8500474

PREMIER ACCOUNTACCOUNT Legg Mason Wood Walker, Inc .

STATEMENT Member New York Stock Exchange, IncJMemberSiP C

ACCOUNT NO 385 -00182 1 THE MARTIN COUNTY II COMMUNITY - FOUNDATION INC - SCHROEDER FUND ACCOUNT I JUNE 1 -JUNE 30, 2004 PAGE 12 OF 66

MUTUAL FUNDS (continued)Estim a ted

Date Total Cost Current Market Unr ealized Annual CurrentQ u antity Description Symbol Unit Cost Acquired Basis Price Val ue Gain/Loss Income Yi eld3, 117 .536 •'LEGG MASON SPECIAL LMASX 34 .89 12/23/98 108 , 771 146,929.47 38 , 158 L

I NVESTMENT TRUS T74 .936

15.4463 REINVESTMENTS

4,929 .691 SUB TOTAL

40 .15 12/31 /99 3 ,009 3, 531 .73 523 L34.55 Various 53 ,617 73 , 135 .06 19,518 L44. 26 Various 8 ,207 8 ,740 .07 533 S

35 .22 173,604 47.13 232,336 .34 68,732

MARKET VALUE OF MUTUAL FUNDS 5669. 631 . 92 $ 138, 144

....

PREMIER ACCOUNT

ACCOUNT NO . 385-00474 1 THE MARTIN COUNTY II - COMMUNITY FOUNDATION INC - THE CADARR FUND A/C I JUNE 1-JUNE 30, 200 4

PORTFOLIO SUMMARY

PAGE 5 OF 66

The calcul a tion of unre a lized ga i ns/losses i s prepa red from cost bas i s info rma tion p rovided by yo u, you r Financia l Adv i so r, o r ou r transaction fi l es . P lease contactyou r Financial Adv isor sh ould you need to amen d the reported in fo rmati o n .

An 'L' next to th e Unrea lized Gain or Loss in d icates a lon g te rm ga in/loss, an d ' S ' ind icates a sh o rt te r m ga in/loss .

CASH AND CASH EQUIVALENTS : 0 . 00% of Port folio

Money Market Fund s

Quantity Description Current Price Balance 7-Day Yield

1 73 LEGG MASON GOVT MONEY MARKET $1 .00 $1 73 043%

MUTUAL FUNDS : 100 . 00% of PortfolioEstimated

Date Total Cost Current Market Unrealized Annual CurrentQuantity Descri pt ion Symbol Unit Cost Acquired Basis Price Va l ue Gain/Loss Income Yie ld

992.301 "'LEGG MASON OPPORTUNITY TRUST LMOPX $1255 09/24/03 $12,453 $14 , 676.13 $2 ,223 S4. 033 RE I NVESTMENTS 13. 14 Vari ous 53 59.65 7 S996.334 SUB TOTAL 12.55 12,606 14 .79 14,736.78 2,230

330.942 LEGG MASON FINANCIAL LMFNX 1027 03/11/99 3 ,399 4, 868.16 1 ,469 LSERVICES FUN D

1 030 .681 1000 04/19/99 10 ,307 15 , 161 .32 4 ,854 L9'35 453 10 61 09120100 9 ,925 13, 760 .51 3 , 836 L5 829 .554 12.55 06/ 10/02 73 , 161 85752 .74 12 , 592 L,161 .774 RE I NVESTMENTS 14 .61 Various 7 ,037 7, 086.90 50 S

8,608 .404 SUB TOTAL 12.06 103,829 14 .71 126,629.62 22,801

268 .831 "LEGG MASON VALUE TRUST LMVTX 26 .78 02/08/96 7 ,199 16, 180 94 8 , 982 L0 719 26 .43 05/15/96 19 43 .28 24 L0 329 30 .40 10/30/96 10 19.80 10 L8457 32.64 12/19!96 276 509.03 233 L0 658 31 .91 12/19/96 21 39.61 19 L7 26 33 .47 12/27196 243 436 .98 194 L348 .907 44 .74 07/30/97 15 .610 21000 .71 5 , 391 L298.983 50 .17 06/ 17/98 15 ,000 17, 995.79 2 , 996 L209 .785 67.56 09/20/00 14 ,173 12, 626.96 (1 , 546) L382.19 52.33 09/24 /03 20 ,000 23, 004.02 3 ,004 S

A C C 0 U N T Legg Mason Wood Walker, Inc .STATEMENT Mam ba r New Yo rk Stock Exchange, I nclMember SIPC

2 74 0319017 ZIP 35 PP 01 0710 2104;6 :08 08 038999 01 51 60 98 50 0474

PREMIER ACCOUNTACCOUNT Legg Mason Wood Walker, Inc .STATEMENT Mam ba r Now Yor k Stock Excha n ge, IntJMem ba SIPC

ACCOUNT NO. 385-00474 1 THE MARTIN COUNTY II - COMONUNITY FOUNDATION INC -THE CADAR R FUND A/C I JUNE 7-JUNE 30, 2004 PAGE 6 OF 6 6

MUTUAL FUNDS (continued)Estimated

Date Total Cost Current Market Unrealized Annual CurrentQuantity Description Symbol Unit Cost Acquired Basis Price Value Gain/Loss Income veld398 .147 REINVESTMENTS 57 .10 Various 22,734 23,964.47 1,230 L1,924.266 SUBTOTAL 49.52 86,286 60.19 116, 821.67 20,637

81 .009 ••LEGG MASON SPECIALINVESTMENT TRUST

9 .233472 .441744 .654274 .995867.819 REINVESTMENT S95.773 REINVESTMENTS

2,646 .924 SUB TOTAL

451 .486 "ROYCE FD TOTAL RETURN FD CONSULTAN T

1 .8 REINVESTMENTS3.589 REINVESTMENTS466 .876 SUB TOTAL

LMASX 28 .35 1 22/09/96 2 , 297

27 .1 9 12 119/96 25131 .75 06/17/98 15, 00037 .00 03/11 /99 27, 55237 . 48 04/19/99 10, 30734.15 Various 29 ,63944.26 Various 4, 239

36 .07 89 ,286 47 . 13

3 , 817 .95 1 , 521 L

435 .15 184 L22,266 .14 7, 266 L35,095 .54 7, 544 L12,960 .51 2,654 L40,900 .31 11 ,261 L4,513 .78 275 S

119,989 .40 30,706

RYTCX . . . 8. 74 .. . .. . . .. 02/13%02 . .. . . . . . .. . .. . .9 ,948 . . .. .. . . . .. . .. . .. . 5 , 101 .79 1, 156 L

8.89 Various 16 20 .34 4 L10.31 Various 37 40.56 4 S

8.76 3,999 11.30 6,162.69 1,164

MARKET VALUE OF MUTUAL FUNDS 129412U-11- $77,437

A C C 0 U N T Legg Mason Wood Walker, Inc.STATEMENT Member Now Yo rk Stock Exchange, I nc JMemher 5lP L

ACCOUNT NO . 385-0 0928 1 THE MARTIN COUNTY I I - COMMUNITY FOUNDATI ON INC - THE WAALER FUND ACCT I JUNE 1 -JUNE 30, 2004 PAGE 19 OF 66

PORTFOLIO SUMMARY

The ca lcul a tio n of unrea lized ga ins /losses is prepa r ed from cost bas i s in fo rma tio n p ro vided by yo u, your F inancia l Adv i sor, o r ou r transacti o n files . P l ease contactyour F i nanc i a l Adv i sor s hould yo u n eed to amen d the repo rted info r mat i o n .

An 'L' next to the Unrea l ized Ga in o r Loss ind icates a l ong te rm ga in/loss , and 'S' ind i cates a sh o rt te rm ga in/loss .

CASH AND CASH EQUIVALENTS : 19 . 38% of Portfolio

Money Market Fund s

Quantity Desc ription Current Price Balance 7-Day Yield

28 ,352.29 LEGG MASON CASH RESERVE

TRUST

MUTUAL FUNDS : 80 .62% of Po rtfolio

$1 . 00 $28,352 . 29 050%

Estimated

Date Total Cost Current Market Unrealized Annual Curren tQuantity Description Symbol Unit Cost Acquired Basis Price Value Gain/Loss Income Yield

1 672 .318 **LEGG MASON OPPORTUNITY TRUST LMOPX $11 04 06/07/00 $18,462 $24,733.58 $6,272 L1b4.603 REINVESTMENTS 9 .56 Various 1,000 1,547.08 547 L

1,776.921 SUB TOTAL 10.85 19,462 14.79 26,280.66 6,81 9

199 .462

2,680 965166 845

3,047 . 27 2

151 .6751 72 .389257 .46795 547101 ,482778 .76

"LEGG MASON F I NANCIALSERVICES FUN D

REINVESTMENTS

SUB TOTAL

`"LEGG MASON VALUE TRUS T

REINVESTMENTS

SUB TOTAL

LMFNX ' 12.55 06/ 10/02

11 . 19 02/14/0314. 60 Various11 .47

LMVTX 67.41 03/05/ 9969. 61 03/11/9938. 84 02/14/0352.33 09/24/0359.48 Various

66 .67

2 ,503 2 , 934. 09

30 ,000 39 , 437 002 ,436 2 , 454. 29

34,939 14.71 44,826.37

10,238 9 1 41 .3612,000 10, 376. 0910,000 15, 496.945 ,000 5, 750 .976 ,036 6, 108.20

43,274 60 .19 46,873.66

431 L

9 , 437 L18 S

9,88 6

(1 , 097) L( 1 , 624) L5 , 497 L

X72L

S

5,68 9

MARKET VALUE OF MUTUAL FUNDS $117,878.58 S20,304

274 03180 84 Z I P 35 PP0 1 07102 104;5 .08 00 030006 01 61 60 9 8 600474

PREMIER ACCOUNTA C C 0 U N T Legg Mason Wood Walker, Inc .STATEMENT Me m ber New York Stock Exchange. incJ Mamba SIPC

ACC OUNT NO . 385-00929 1 MARTI N CO U NTY II COMMUN ITY - FOUNDATION II INC - SUSAN C BESSEY TRUST I JUNE 1-JUNE 30, 2004 PAGE 25 OF 66

PORTFOLIO SUMMARY

The calculation of unrealized gains/losses is prepared from cost basis information provided by you, your Financial Advisor, or our transaction files . Please contactyour Financial Advisor should you need to amend the reported information .

An 'L' next to the Unrealized Gain or Loss indicates a long term gain/loss, and 'S' indicates a short term gain/loss .

CASH AND CASH EQUIVALENTS : 0 .03% of Po rt folio

Cash BalanceCash Net Ba l ance

Ending Bal a nce $27 .42 $27. 42

MUTUAL FUNDS : 99 . 97% of PortfolioEstimated

Date Total Cost Current Market Unrealized Annual CurrentQuantity Description Symbol Unit Cost Acquired Bas is Price Value Gain/Loss Income Yield

90764 **LEGG MASON OPPORTUNITY TRUST LMOPX $11 .04 06/07/00 $ 1 ,002 $1 , 342. 40 $340 L69426 11 .25 09/20/00 7,810 10 ,268 .11 2 , 458 L86171 RE INVESTMENTS 9 .31 Various 802 1 , 274.47 472 L3.022 RE I NVESTMENTS 1324 Var ious 40 44.70 5 S

874.217 SUB TOTAL 11 .04 9,654 14.79 12,929 .67 5,275

590 .706 "LEGG MASON F I NANCIAL LMFNX 10 .24 12/24198 6 ,049 6689 29 2 , 640 LSERVICES FUN D

262.902 10 .27 03N 1 /99 2 ,700 3 , 867.29 1 , 167 L583.404 12 .56 06/07/02 7 ,328 8 , 581 .87 1 , 254 L893.655 1119 0211 4/03 10 ,000 13 , 145.67 3, 146 L135 .603 REINVESTMENTS 14 .61 Various 1 ,981 1 , 994 .72 14 S

2,466 .27 SUB TOTAL 11.38 28,058 14.71 36,278.83 8,221

1 33 . 284 **LEGG MASON VALUE TRUST LMVTX 69 61 03 /11 /99 9 ,278 8 , 022 .36 (1256) L128 733 38 .84 02/ 14/03 5 ,000 7, 748 .44 2 ,748 L41 . 986 RE I NVESTMENTS 59 .50 Various 2 ,498 2 , 527 .14 29 L

304.003 SUB TOTAL 55.18 16,776 60.19 18,297.94 1,521

2 . 525 **LEGG MASON SPEC IAL LMASX 2970 06/ 17/97 75 119 .00 44 LI NVESTMENT TRUST

151351 37 .00 03/ 11 /99 5,600 7 , 133 .17 1533 L99 .06 REINVESTMENTS 34 .29 Various - 3 ,397 4 ,66870 1 , 272 L

27 4 03190 87 Z I P 35 PP 01 0 7/021043 :08 08 0 3 8 009 0 151 60 9 8 50047 4

PREMIER ACCOUNTACCOUNT Legg Mason Wood Walker, Inc.STATEMENT Mem ber N ew Yo rk Stock Exchange, 1ncJMemberS1 P C

ACCOUNT NO . 385-00929 1 MARTI N COUNTY II COMMUNITY - FOUNDATION I I I NC - SUSAN C BESSEY TRUST I JUNE WUNE 30, 2004 PAGE 26 OF 66

MUTUAL FUNDS (continu ed)Esti mated

Date Total Cost Cu rrent Ma rket Unrealized Ann ua l Cu rrentQuant ity Description Symbol Un it Cost Acquired Bas is Price Value GainlLoss In come veld

9.887 RE I NVE S TMENTS 44 .20 Va rio us 437 465 . 97 29 S

262.823 SUB TOTAL 36.18 9,609 47 .13 12,386 .86 2,878

MARKET VALUE OF MUTUAL FUNDS :79, 883 .28 $15,896

PREMIER ACCOUNTA C C 0 U N T Legg Mason Wood Walker, Inc .STATEMENT Member New York Stock Exchange, incjMember SIPC

ACCOUNT NO. 385-009341 THE MARTIN COUNTY II COMMUN I TY - FOUNDATION I NC HOBE SOUND - AFFILIATED CIVIC GROUP I JUNE 1-JUNE 30, 2004 PAGE 31 OF 66

PORTFOLIO SUMMARY

The ca lculation o f unrealized ga ins /losses Is p r ep a red from cost basis inform ation p r o vid ed by you, your Fin anci a l Adviso r, or our tra nsaction files . Please contactyour Financial Advisor should you need to amend the reported Information .

An 'L' next to the Unrea lized G a in or Loss in d ica tes a long t e rm ga in/lo s s, and 'S ' Indic a t e s a s hort te rm gain/lo ss .

MUTUAL FUNDS : 100.00% of PortfolioEstimated

Date Total Cost Current Market Unrealized Annual CurrentQuantity Description Symbol Unit Cost Acquired Basis Price Value Oaln/Loss Income Yield

354.794 "LEGG MASON FINANCIAL LMFNX $10.39 12129!98 $3,686 $5,219.02 $1,533 LSERVICES FUN D

121.798 12.55 06/10/02 1,529 1,791.65 263 L27.606 REINVESTMENTS 14 .60 Various 403 406.08 3 S

604.1 88 SU B TOTAL 11.14 6 ,61 8 1 4.71 7,416.76 1,789

MARKE T VALUE OF M U TUAL FUN DS $7, 4 1 6 .76 $1,799

PREMIER ACCOUNT

_ ._ .J

ACCOUNT Legg Mason Wood Walker, Inc .STATEMENT Member N ew Yo r k Stoc k Exchange, lncl M em bv SIPC

ACCOUNT NO . 385-01623 1 THE MARTIN COUNTY II - COMMUNITY FOUNDATION INC - THE GW FUND I JUNE 1-JUNE 30, 2004 PAGE 41 OF 66

PORTFOLIO SUMMARY

The calculation of u n r ea lized g ains/l o ss es is p repa r ed from cost basis i n fo rm ation p r ov ided by yo u, you r Financia l Adviso r, o r our transactio n fil es . Please contactyour Financia l Advisor s h ould you need to amend the reported in fo rma tio n .

An 'L' n ext to the U n rea lize d Ga in o r Loss i n d icates a lo ng term gain/lo ss , and ' S ' i nd icates a sho rt term ga in/loss .

CASH AND CASH EQUIVALENTS : 0 .13% of Po rtfolio

Money Market Fund s

Quantity Description Current Price Balance 7-Day Yield

48723 LEGG MASON CASH RESERVE $1 .00 $487 .23 0.50%

T RUST

MUTUAL FUNDS : 99 .870 of PortfolioEst imat ed

Date Total Cost Current Ma rket Unrealized Annual CurrentQuantity Descri ption Symbo l U nit Cost Acqu ired Basis P rice Va lue Gai M.oss Income Yi eld

1 ,2 1 6 . 248 **LEGG MASON F I NANC IAL LMFNX $10 .27 03/11/99 $12 , 491 $17,89101 $5, 400 LSERVICES FUN D

3,452 403 10 .6 1 09120/00 36 ,630 50 ,784.85 14, 155 L1 ,710 154 12 .55 06/ 10/02 21 ,462 25 , 156 .37 3, 694 L2 234 .138 11 . 19 02/14/03 25 ,000 32 , 864.17 7, 864 L48. 893 RE I NVESTMENTS 1460 Various 7 ,284 7 , 338 .72 55 S9, 111 .836 SUS TOTAL 11 .29 102 ,867 14.71 134,036 .11 31,168

93 209536. 036559.91573 285236. 655

1,999 .095

396. 379

810 811485.555457. 182

"LEGG MASON VALUE TRUST LMVTX

REINVESTMENTS

SUB TOTAL

"LEGG MASON SPECIALINVESTMENT TRUST

REINVESTMENTS

66 .05 69.61

44 . 6552 . 3359 . 48

66 . 30

34 . 51

"' 615'6

LMASX 36 . 68

37 . 0041 . 19

0311 ~99 37 , 31302/07/02 25 , 00009/24/03 30 , 000Var ious 14 , 076

112,645 60. 1 9

. . . .03/04/99 14 , 539

03/ 11 /99 30 , 00009/2 4/03 20 , 000Various 15 , 777

5,61025 ~ (546) L32,264.01 5,049) L33,700.98 8,701 L34,506 02 4,506 S14,244.26 168 L

120 , 325 .55 7 ,780

18, 681 . 3

4 38, 213. 5222 , 884 2121 , 546 .99

4,142 L . .. .

8, 214 L2, 884 S5 ,770 L

2 74 03 1 8 08 5 ZIP 95 PP01 0 1J02104 ;5: 08 00 039011016160 98 6 0 0 474

PREMIER ACCOUNTA C C 0 U N T Legg Mason Wood Walker, Inc .STATEMENT Member Naw York Stock Exchange, IncJMem bar S l P C

ACCOUNT NO . 385 .01623 1 THE MARTIN COUNTY II - COMMUNITY FOUNDATION INC - THE GW FUND I JUNE 1-JUNE30, 2004 PAGE 42 OF 66


Date Total Cost Current Market Unrealized Annual CurrentQuantity Description Symbol Unit Cost Acquired Basis Price Value Gain/Loss Income Yield84.037 REINVESTMENTS 4425 Various 3,719 3,960.66 242 S2,233 .964 SU BTOTAL 37.62 84,035 47.13 106,286.72 21,252

1,424.863 ''ENTERPRISE GROUP FUNDS INC EAAACX'** 9 .46 ' 0211 4103 13,479 15,588.00 2,109L MERGERS & ACQUISITIONSFD CLC

43 469 REINVESTMENTS1 ,468 . 332 SUB TOTAL

10 .79 Various 469 475.55 7S9. 6 0 13 , 948 1 0.94 16 , 063 .65 2 ,11 6

MARKET VALUE OF MUTUAL FUNDS :376 , 710 .91 $62,316

PREMIER ACCOUNT

ACCOUNT NO. 385-02D21 I MARTIN COUNTY II COMMUNITY - FOUNDATION INC - DUNSCOMBE I JUNE 1-JUNE 30, 200 4

PORTFOLIO SUMMARY

PAGE 47 OF 6 6

The calculation of unrea lized gains/losses is p r epa red f rom cost bas i s in fo rm ation p rovided by yo u, your Fin anci a l Ad viso r, o r our tra nsactio n files . P le ase contactyour Financial Advisor shoul d you nee d to amen d the repo rted info rmati on .

An 'L' next t o the Unrea lized Ga in or Loss in d icates a l o ng term gain/loss, an d ' S ' ind icates a s h o rt te r m ga in/loss .

CASH AND CASH EQUIVALENTS : 0.74% of Po rtfolio

Money Market Fund s

Quantity Descr iption Current Price Balance 7-Day Yield

3,26551 LEGG MASON CASH RESERVE $1 .00 $3 , 265 . 51 0.50%

TRUS T

MUTUAL FUNDS : 99.26% of Po rt folioEsti mated

Date Total Cost Cur rent Market Unreal ized Annual CurrentQuantity Descri pt ion Symbol Unit Cost Acqui red Basis Price Value Gain/Loss Income Yiel d

6 , 334. 842 **LEGG MASON FI NANC IAL LMFNX $11 . 05 02/13/03 $70 ,000 $93 , 185 .53 $23 , 186 LSERVICES FUN D

366937 RE I NVESTMENTS 1460 Va ri ous 5 , 357 5 ,397 .64 41 S6 , 701 .779 SUB TOTAL 11 .24 76 ,367 14 .71 98,683 .17 23,227

4 , 958 678 "ROYCE FUND -PENNSYLVANIA RYPCX 6.05 02 / 13 /03 30,000 46 ,214.88 16, 215 LMUTUAL FUND CONSULTANT C L

209094 RE I NVESTMENTS 849 Var ious 1 , 775 1 ,948 . 76 174 S

6,167 .772 SUB TOTAL 6 .15 31 ,775 9.32 48,163 .64 16,389

4, 859 87 CL CCAP FUND INC AMPCX 15.63 11 /19/03 75,960 17.05 82 ,860 .78 6, 901 S

6 , 974 . 657 "ENTERPR I SE GROUP FUNDS INC EMACX 9 .42 07J13/03 65 ,701 76 ,302 .75 10, 602 LMERGERS & ACQU I SITIONS F D CL C

1 01 . 857 RE I NVESTMENTS 10.79 Var ious 1 , 099 1 , 114. 32 15 S7,076 .514 SUB TOTAL 9 .44 66,800 10.94 77,417.06 10,617

1 .772.002 CG C OWTH FUND AMER INC GFACX 16.93 07!13/03 30,000 24.90 44,122 .85 14, 123 LL

~.J

A C C 0 U N T Legg Mason Wood Walker, Inc.STATEMENT Member Now York Stock Exchange, tncJ Mam 6arSI P C

274 0318098 ZI P 35 P P0 1 07102104 ;6 :08 08 039020 0161 60 38500474

PREMIER ACCOUNTA C C 0 U N T Legg Mason Wood Walker, Inc .STATEMENT Mam barN ew York Sl ock Exd iange,IncJMem berSl PC

ACCO U NT NO. 385-020211 MARTI N COUNTY II COMMUN I TY - FOUNDATION INC - DUNSCOMBE I JUNE 1 -JUNE 30, 2004 PAGE 48 OF 66


Date Total Cost Current Market Unrealized An n ua l CurrentQuantity Descri pti on Symbo l Un it Cost Acqu ired Basis P ri ce Va lue GaINLoss I n come Y ield2 , 894 .807 ''WASH I NGTON MUT I NVS FD INC WSHCX 21 .62 02t13/03 62 ,586 84, 499.42 21 , 913 L

CL C;24.255 REINVESTMENTS57.282 REINVESTMENTS

2 , 976.344 SUB TOTAL

24.08 Various 584 708.00 124 L27.95 Vanous 1,601 1,672.06 71 S21 .76 64,771 29 .19 86 ,879 .48 22 ,108 949 1 .08%

MARKET VALUE OF MUTUAL FUNDS $438,026.98 $93,366 $949 0 . 21%

ACCOUNT Legg Mason Wood Walker, Inc.STATEMENT Member Now York Sto c k Excha n ge, I ncJMambv SIP C

ACCOUNT NO . 385-03256 1 THE MARTIN COUNTY COMMUNITY - FOUNDATION INC JEAN MERRILL I JUNE 4-JUNE 30, 2004 PAGE 53 OF 66

PORTFOLIO SUMMARY

The calcul a tion of unrea lized ga i ns/loss es is p repa re d from cost basis inform a tion p ro vided by yo u, yo u r Fi nanci a l Adv iso r, o r our t ransa cti o n files . P l ease contactyour Financial Advisor sh ou l d you need to amen d the repo rted info r matio n .Positions for which the original cost and/or acquisiti on date a re n o t known wil l not be included in Un rea l ized Ga in/Loss tota l s. Thes e positi ons w ill be hi ghlig htedwith letters "N/A" in the Unrealized Ga in/Lo ss column .

An 'L' next to the Unrealize d Gain or Loss ind icates a l o n g term ga in/l oss, and ' S ' i nd icates a sho rt term ga i n/loss .

CASH AND CASH EQUIVALENTS : 0 . 83% of Po rtfolio

Cash Ba lanceCash Net Balance

End i ng Ba lance $5 ,538 35 $5, 538 .3 5

PREFERRED STOCKS : 7 . 47% of Po rtfolioEsti mated

Date Total Cost Cur rent Ma rket Un rea lized Annual CurrentQuanti ty Description Symbol Unit Cost Acqu ired Basis Price Value Gain/Loss Income Yield

1 NUVEEN PERFORMANCE PLUS MUN N IA 06!28/04 N/A $25 ,000 00 $25 , 000.00 NIA SFUND I NC-MONEY MKT PFD SER T

NUVEEN D I V ID ADVANTAGE MUN FD N/A 0628104 N /A 25 , 000 .00 25 , 000. 00 N/A S 213 0 .85%2 MUN AUC TION RATE PFD SER M

MARKET VALUE OF PREFERRED STOCKS $50,000.00 $0 $213 0 .42%

2 74 0319101 Z IP 35 PP01 0 71 02104 ;5 .0 8 08 030023 015 160 3 8500474

ACCOUNT Legg Mason Wood Walker, Inc .STATEMENT Mem ber New Yo rk S toc k Exch a n ge, IncJ Mamber SI PC

ACCOUNT NO 385-03256 1 THE MAR TIN COUNTY COMMUNITY - FOUNDATION INC JEA N ME R RILL I JU NE 1-JU N E 30, 2004 P AG E 54 OF 66

ASSET BACKED SECURITIES : 18.52% of PortfolioEstimated

Date Total Cost Current Market Unrealized Annual Curren tQuantity Description Unit Cost Acquired Basis Price Value Galn/Loss Income Yield124,000 GOVERNMENT NATIONAL MTG ASSN $10000 06/04/04 $124,000 $100 .00 $124,000 00 $0 S $7,440 6 .00%

SERIES 2004-47 CLASS D ADATED DATE 06/01/04DUE 05/16/2034 6 000 %AMORTIZED AMOUNT = 124,000FACTOR = 1 00000000CUSIP 38374HBW9

MARKET VALUE OF ASSET B AC KED SECURITIE S

MUTUAL FUNDS : 73 . 18% of Po rt folio

$ 1 24 ,000 .00 $0 $7,440 6.00 %

Estimated

Date Total Cost Current Market Unrealized Annual CurrentQuantity Description Symbol Unit Cost Acquir e d Basis Price Value Gain/Loss Income Yield5,274.262 **LEGG MASON OPPORTUNITY TRUST LMOPX $14 .22 06/01/04 $75,000 $1479 $78,006 .33 $3,006 S

4,351 .61 FpEGG MASON CLASSIC VALUATION LMCVX 11 .49 05/28/04 50,000 11 84 51,52306 1,523 S

. . .1,795 332 "LE66 MASON GROWTH TRUST INC LMGTX 27 .85 05%28%04 50,000 2679 51,687.61 1,688 S

1,289.768 "LEGG MASON VALUE TRUS`f LMVTX 58.15 06%02/04 75,000 60 19 77,631 .14 2,631 S

1,644 016 "LEGG MASON SPECIAL LMASX 45 .62 06/02/04 75,000 77,482 47 2,482 SINVESTMENT TRUST

17 714 REINVESTMENTS 45 .95 Various 814 834.86 21 S1,661.73 SUB TOTAL 46 . 62 7 6 ,814 4 7 .1 3 78 ,3 1 7 .33 2 ,60 3

5 , 537 . 099 "ROYCE FUND- PENNSYLVAN IAMUTUAL FUND CONSULTANT C L

4, 156 . 276 " I VY F DCUNDILL GLOBAL VALUE FD CL C

4 ,291 . 845 "PIONEER H I GH YIELD F DCL C

M AR K ET VALUE OF MUTUAL FUNDS

R Y PCk 9 03 05/28/04 50,000 .932 51,6 05.76 1,666'S

I CDC X 1 2 .03 05/28 /04 50,000 12 24 50, 872 . 82 873 S

PYICX 11 65 05/28/04 50,000 11 .7 4 50,38 6 26 386 S 2,712 5 .38 %

$490,030 .31 $ 1 4 , 2 1 6 $2,712 0.66%

274 0318101 ZIP 35 PP01 07 / 02/04 ,5 08 08 038023 015160B 38500474

PREMIER ACCOUNT

LMFNX 10.39

14 .62

10.6 2

ACCOUNT NO . 385-04442 1 THE MARTIN COUNTY 11 COMMUNITY - FOUNDATION INC - B ROGAN A/C I JUNE WUNE 30, 2004 PAGE 63 OF 66

PORTFOLIO SUMMARY

The ca lc u l a tion of unrea lized gains/losses i s p r epa red f rom cost bas i s information p r ovided by you , you r Fi nan cia l Advi so r, o r our t ra nsacti o n fil es . P l ease co ntactyour Financia l Adviso r should you nee d to amen d the repo rted in fo rmat i on.

An 'L' next to the Unrea lized Gain or Loss in d ica tes a l o ng te rm gain/loss, an d ' S ' ind icates a s ho rt term ga in/lo s s .

CASH AND CASH EQUIVALENTS : 0 . 11% of Po rtfolio

Cash BalanceCash Net Balance

End i ng Ba l an ce $26 .06 $26. 06

MUTUAL FUNDS : 99. 89% of PortfolioE stimated

Date Total Cost Current Market Unrealized Annual CurrentQuantity Description Symbol Unit Cost Acquired Basis Price Value Gain/Loss Income Yield

6 976 ••LEGG MASON OPPORTUNITY TRUST LMOPX $1 1 18 09/20/00 $78 $103.18 $25 L6 896 REINVESTMENTS 9.43 Various 65 101 99 37 L0.048 REINVESTMENTS 20 .83 Various 1 0.71 0 S

13 .92 SUB TOTAL 10 .34 144 14.79 205 .88 62

448 .65 '•LEGG MASON FINANCIALSERVICES FUN D

25.987 REINVESTMENTS

474 .637 SUB TOTA L

25 056 '•LEGG MASON VALUE TRUST38 . 97637 336 RE I NVESTMENTS

101 .368 SUB TOTAL

40. 997 ••LEGG MASON SPECIAL INVESTMENT TRUST

94. 28781 .555 REINVESTMENTS

..~

12129/98 4, 661

Various 380

6 ,041

ACCOUNT Legg Mason Wood Walker, Inc.

STATEMENT Mem 6er Nw York Stock Emhange,IncJMem6a StPC

. .6 , 599 . 64 . 1 ,939 L . . .. .

382.27 2 S

14.71 6 , 981 .91 1 , 94 1

LMVTX 61 .30 12/29/98 1 ,536 1 , 508 . 12 (28L76.97 05M 3/99 3,000 2 , 345 . 97 ( 654; L5951 Various 2,222 2 , 247 .25 25 L

66 .67 8 ,758 60. 19 6,101 .34 (657 )

LMASX 35 .59 12/29/98 1 , 459

42 .09 05113/99 3, 96934 .58 Var ious 2 ,820

274 037 810 8 Z I P 3 5 PP0 1 0 7102104 ;6 .08 OB 088028 015160

1,932.19

4 , 443.753, 843 .69

9 8 50 0474

473

L 475L1 , 024 L

PREMIER ACCOUNTA C C 0 U N T Legg Mason Wood Walker, Inc .STATEMENT Me mber New York Stock Exchange, InciMember SIPC

ACCOUNT NO 385- 04442 1 THE MART I N COUNTY II COMMUNITY - FOUNDATION INC - BROGAN A /C I JUNE 1-JUNE 30, 2004 PAGE 64 OF 66


Date Total Cost Current Market Unrealized Annual CurrentQuantity Description Symbol Unit Cost Acquired Basis Price Value Gain /Loss Income Yield8 .476 REINVESTMENTS 44 .24 Various 375 399 .47 24 S

225 .315 SUB TOTAL 38 .27 8,623 47 .13 10 , 619 . 10 1,99 6

MARKET VALUE OF MUTUAL FUNDS $23,908 .23 $3,342

1~yYr+ '̂1L ~~~~. ,~ I I I I I I I em6~ ~s'oqu ~i N~'r

n

ri.

be':! K7=094455 FNB Brokerage Services, Inc. NM

"'°"~~_ . ,.,, ..iOGAN

atemg~tFDaXe: - ;06/01 /2004 to 06/30/2004 AT TH E 5 U PERC N ITY BAN K ~" 13

~~~ .̀j'r~"~Y,d.: ~,

~

.'-,1 •̀m ",=:;i!~'':. '1''~.. ~«~, ~.. ~ '• ~' a "e~`~is~ -rte..- t ~Sn'+geav~~ ~ ,- _'-~'Y,~N " ~` .7~sti~'+3 : ~~ ~ ~'~~c. : ~ y . .

DETAIL

Security Invest m e nts , in clud i ng M utual Funds *are not in s ured by T he Federa l Depos it In sura nce Corpor a ti o n ( FD I C ); *are n ot a depos it or o th e r obli ga tion of, or g u a ra nte ed by, F irst Nati o n a lBank & Trust Co of the Treas u re Coast ; *are subject to i nvestment risk, inc l ud in g th e possi bl e l oss of th e prin ci pa l amou n t Invested

CASH AND CASH EQUNALENTS 1 .65%Symbol/Cusip Price on Current Prior Estimate d

Description Account Type Quant ity 06/30/04 Market Value Market Value A n nua l Incom eMoney MarketsPRIMEFUND - CAPffALRESERVES FPRXX 1,89202 $1 .00 $1,892.02 $39169 $403CLASS CASH7 DAYAVG NETYIELD 29 %Estimated Yi eld 0.21 %Dividend Option Reinves tCapita l G a in Option R einves t

Total Cash and Cash Equivalents $1,892.02 $4.03

MUTUAL FUNDS 98 .35%Symbol/Cus i p Price on Current Prior Esti mat ed

Description Account Type Quantity 06/30/04 Market Value MarKet Value Annual Incom etquLty

`^~'• "~''-='~}''4~:;`'~'~ ,` Z '`'' PIONEER FUND CLASS C PCODX 3,021 472 $37 44 $ 113,123.91 $111,49232r, `.- ,ri~~ "fit ~ ~~:`~ ~;, ;~~~%r, .~:;^~:•

Dividend Option Reinvest CASH;''~~,"~'' ~~c .``~F~"~'~'~'."~.r•~}W Capital Gain Option Reinves t

Funds $113 , 1 23.9 1Total Mutual~~. ~ .

801 East OoMn Blvd .,Stuart,tFL 3494

am 772 -286 -7323 .800-762-8288

POrdOllO Holdings (continued)

mew go"

Fixed ItKOtYI! 72.004b of Portfolio Vn Maturity Date Sequence

Corporate Bonds25,000.000 FORD MOTOR CREDIT CO NOTF5

Ts.oooooo

15,000. OOD

6,000.000

20. .00 !0

25,000.000

25AKd W

800000000D 01420CS F155DP

6. 750% 05/15/05 WE DTD 05/24/9 31 ST CPN DTE 11 /15/93 CPN PMT SEMI ANNUAL

Security Identifier: 345397 GV9

DRESIDNER 11JIMK NY SlIZO!RDINAMN !DM6 .625% 09/15/05 BI E DTD 09/22/95CALLABLE 1 ST CPN DTE 03/15/96

Security Identifier : 26156AA2MORGAN. I.P. a .C0 .5UBORllIMM .NO.lES6. 2509b 12/15/05 WE DTD p2/15/951 5T CPN DTE 06J•15/96 CPk RMT SEMI - ANNUA L

SecuFdy IdenEifie-rr 61668011M2 -MIRltill LYN .CH_l . CDJN,C.I+Lt.7 .000% 03/15/06 B/E DTfi? q3f 1 B19 61 ST CPN - 9TE 09%45J96GP144AT SEMI ANNUAL

Secu* IdeMKer 59W-88~V~ ~ MNORTHYIl6flil 8at.7EL . DEB6 250% ai/off/or REc DTD oi~O~/saCA4. LABL€1ST LPN DTE 0710 1E69Security ldentffier: 668027AG0MORcxN . i p -& W&c wgxr6 .875% 01/15/07 8f~DTfl0I/2Y/91 '1 ST CPN aTE 07/15/97 EPN-PMT SEMI ANNUAL

Security Identifier: 61688a U6BANK .BO'S?OK NA" KM .63759b-04/15/08-8(~ DID fl4f 20/9 8i ST CPN DTE W/ 15/98 GPA4 PMT SEMI ANNUALSecurity Identifier : 0660611D87

calif

Acaved 6dNe 1 E 1i M ,Wwwq AmW,6wr UN

210.91 1 ,487.36 6M4b

io330~i► : ~s:~.~3 3q.a6

MAW . ~ ?.~;.1 ~ ~D7J6

3 0~ -

Account Number : 7Z4 - 163693MARTIN COU NTY COMMUN ITY

93y.~0 5.9~4r

ut00 6.534%

~ .~o.oo r~i~a

1 .ytA~7S G. 3+44b

A IN 'I SwrWW Gw► V One Pershing Plum, J ersey City, Now Jersey 07399Clearing Throughsr. Aw~ h .~ n~h. k d N. .r~rk h ►r,uc .~.rwm E,sK.L.~.. ►W .Ir.+g r~..aucpwddblw

PAR-02-ROLL

Portfolio Hold ings (continued)

Mark et . . MarketYdue

Accrued, Estimated EstimatedIntere st Mnud - l nc artn Yield

Fixed income (continued) . . _ _ . . . . ._ _, . . ._ . , .. _ .. ._ - - - --. . _ . . .

Corporate Bonds (continued)25,000.000 BANKAMERICAC O itP^5R'NTS.: . . . 10 9 :2646: 26 .567.25 550.78 1 ,466.75 5.52Wo

5.875WoU2/15/09B/EDTI) 02/08/99 'CALLABLE 1ST CPN DTE OS/ 15%9 9Security-Identifier : 066050CV5 - • - - - •-

Total Corporate Bonds $.1 76, 58.24 $3 , 188.50 $10,872.50

Municipal Bonds .. .. . .-~--• - - ---'° . ..5 ,000.000 FLORIDA ST BRD ED CAP - OUTLAY SER A 109.6570 - 5f482 : 85 - - - - - 33 .83 420: 00• 7.66%

MAND SKG FUND BY LOT-BEG 6-1-5 - " •8 .400% 06/01/07 DTD 06/01/85Security Identifier: -341420VG9

Total Municipal Bonds • $5482:85 S33 :83 $42 0.00

Total Fixed Income -$182 , 141 .09 $3,222.33 $11 ;292.50

a

hulr pf 2003 -...

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