<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2012v2.1">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2013-06-03T14:37:10-05:00</Timestamp>
    <TaxPeriodEndDate>2012-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <EIN>410746749</EIN>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>CLIFTONLARSONALLEN LLP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>9515 DEERECO RD - SUITE 500</AddressLine1>
        <City>TIMONIUM</City>
        <State>MD</State>
        <ZIPCode>210932184</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990PF</ReturnType>
    <TaxPeriodBeginDate>2012-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>522156862</EIN>
      <Name>
        <BusinessNameLine1>STONE FAMILY FOUNDATION INC</BusinessNameLine1>
      </Name>
      <NameControl>STON</NameControl>
      <Phone>4103470506</Phone>
      <USAddress>
        <AddressLine1>7 ST PAUL ST NO 910</AddressLine1>
        <City>BALTIMORE</City>
        <State>MD</State>
        <ZIPCode>212021626</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>ANNE STONE</Name>
      <Title>PRESIDENT</Title>
      <Phone>4103470506</Phone>
      <DateSigned>2013-05-22</DateSigned>
      <AuthorizeThirdParty>1</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>MELISSA DYER CPA</Name>
      <PTIN>P01222987</PTIN>
      <Phone>4104530900</Phone>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2016-02-25 16:41:14Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="9">
    <IRS990PF documentId="RetDoc1235000001">
      <ExemptPF>X</ExemptPF>
      <FMVAssetsEOY>933705</FMVAssetsEOY>
      <MethodOfAccountingCash>X</MethodOfAccountingCash>
      <AnalysisOfRevenueAndExpenses>
        <ContriReceivedRevAndExpnss>60394</ContriReceivedRevAndExpnss>
        <DividendsRevAndExpnss>10402</DividendsRevAndExpnss>
        <DividendsNetInvstIncm>10402</DividendsNetInvstIncm>
        <NetGainSaleAssetsRevAndExpnss>20216</NetGainSaleAssetsRevAndExpnss>
        <GrossSalesPrice>139217</GrossSalesPrice>
        <CapitalGainNetIncmNetInvstIncm>20216</CapitalGainNetIncmNetInvstIncm>
        <TotalRevenueAndExpenses>91012</TotalRevenueAndExpenses>
        <TotalNetInvestmentIncome>30618</TotalNetInvestmentIncome>
        <CompOfcrDirTrstRevAndExpnss>0</CompOfcrDirTrstRevAndExpnss>
        <CompOfcrDirTrstNetInvstIncm>0</CompOfcrDirTrstNetInvstIncm>
        <CompOfcrDirTrstDsbrsChrtblPrps>0</CompOfcrDirTrstDsbrsChrtblPrps>
        <AccountingFeesRevAndExpnss referenceDocumentId="RetDoc2002200001">1985</AccountingFeesRevAndExpnss>
        <AccountingFeesNetInvstIncm>1985</AccountingFeesNetInvstIncm>
        <AccountingFeesDsbrsChrtblPrps>0</AccountingFeesDsbrsChrtblPrps>
        <OtherProfFeesRevAndExpnss referenceDocumentId="RetDoc2002300001">3693</OtherProfFeesRevAndExpnss>
        <OtherProfFeesNetInvstIncm>3639</OtherProfFeesNetInvstIncm>
        <OtherProfFeesDsbrsChrtblPrps>0</OtherProfFeesDsbrsChrtblPrps>
        <InterestRevAndExpnss>16</InterestRevAndExpnss>
        <InterestNetInvstIncm>0</InterestNetInvstIncm>
        <InterestDsbrsChrtblPrps>0</InterestDsbrsChrtblPrps>
        <TaxesRevAndExpnss referenceDocumentId="RetDoc2002500001">277</TaxesRevAndExpnss>
        <TaxesNetInvstIncm>100</TaxesNetInvstIncm>
        <TaxesDsbrsChrtblPrps>0</TaxesDsbrsChrtblPrps>
        <TotOprExpensesRevAndExpnss>5971</TotOprExpensesRevAndExpnss>
        <TotOprExpensesNetInvstIncm>5724</TotOprExpensesNetInvstIncm>
        <TotOprExpensesDsbrsChrtblPrps>0</TotOprExpensesDsbrsChrtblPrps>
        <ContriGiftsPaidRevAndExpnss>41000</ContriGiftsPaidRevAndExpnss>
        <ContriGiftsPaidDsbrsChrtblPrps>41000</ContriGiftsPaidDsbrsChrtblPrps>
        <TotalExpensesRevAndExpnss>46971</TotalExpensesRevAndExpnss>
        <TotalExpensesNetInvstIncm>5724</TotalExpensesNetInvstIncm>
        <TotalExpensesDsbrsChrtblPrps>41000</TotalExpensesDsbrsChrtblPrps>
        <ExcessOfRevenueOverExpenses>44041</ExcessOfRevenueOverExpenses>
        <NetInvestmentIncome>24894</NetInvestmentIncome>
      </AnalysisOfRevenueAndExpenses>
      <BalanceSheets>
        <CashEOY>1269</CashEOY>
        <CashEOYFMV>1269</CashEOYFMV>
        <SavingsAndTempCashInvstBOY>11335</SavingsAndTempCashInvstBOY>
        <SavingsAndTempCashInvstEOY>27785</SavingsAndTempCashInvstEOY>
        <SavingsAndTempCashInvstEOYFMV>27785</SavingsAndTempCashInvstEOYFMV>
        <InvestmentsCorpStockBOY>618751</InvestmentsCorpStockBOY>
        <InvestmentsCorpStockEOY referenceDocumentId="RetDoc2018900001">670521</InvestmentsCorpStockEOY>
        <InvestmentsCorpStockEOYFMV>800093</InvestmentsCorpStockEOYFMV>
        <InvestmentsCorpBondsBOY>132276</InvestmentsCorpBondsBOY>
        <InvestmentsCorpBondsEOY referenceDocumentId="RetDoc2044400001">102645</InvestmentsCorpBondsEOY>
        <InvestmentsCorpBondsEOYFMV>104558</InvestmentsCorpBondsEOYFMV>
        <TotalAssetsBOY>762362</TotalAssetsBOY>
        <TotalAssetsEOY>802220</TotalAssetsEOY>
        <TotalAssetsEOYFMV>933705</TotalAssetsEOYFMV>
        <TotalLiabilitiesBOY>0</TotalLiabilitiesBOY>
        <TotalLiabilitiesEOY>0</TotalLiabilitiesEOY>
        <OrgThatDoNotFollowSFAS117>X</OrgThatDoNotFollowSFAS117>
        <CapitalStockBOY>0</CapitalStockBOY>
        <CapitalStockEOY>0</CapitalStockEOY>
        <PaidInOrCapitalSurplusBOY>0</PaidInOrCapitalSurplusBOY>
        <PaidInOrCapitalSurplusEOY>0</PaidInOrCapitalSurplusEOY>
        <RetainedEarningsBOY>762362</RetainedEarningsBOY>
        <RetainedEarningsEOY>802220</RetainedEarningsEOY>
        <TotalNetAssetsBOY>762362</TotalNetAssetsBOY>
        <TotalNetAssetsEOY>802220</TotalNetAssetsEOY>
        <TotalLiabilitiesNetAssetsBOY>762362</TotalLiabilitiesNetAssetsBOY>
        <TotalLiabilitiesNetAssetsEOY>802220</TotalLiabilitiesNetAssetsEOY>
      </BalanceSheets>
      <ChangesInNetAssetsFundBalances>
        <TotalNetAssetsFundBalancesBOY>762362</TotalNetAssetsFundBalancesBOY>
        <ExcessOfRevenueOverExpenses>44041</ExcessOfRevenueOverExpenses>
        <OtherIncreases>0</OtherIncreases>
        <Subtotal>806403</Subtotal>
        <OtherDecreases referenceDocumentId="RetDoc2049800001">4183</OtherDecreases>
        <TotalNetAssetsFundBalancesEOY>802220</TotalNetAssetsFundBalancesEOY>
      </ChangesInNetAssetsFundBalances>
      <CapitalGainsAndLosses>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>18.331 LAUDUS MONDRIAN EMG MKT INS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2011-12-15</DateAcquired>
          <DateSold>2012-11-16</DateSold>
          <GrossSalesPrice>168</GrossSalesPrice>
          <CostOrOtherBasis>149</CostOrOtherBasis>
          <GainOrLoss>19</GainOrLoss>
          <GainsMinusExcessOrLosses>19</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>2633.889 BROWN ADVISORY INTERMED XXX-XX-XXXX</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2011-12-30</DateAcquired>
          <DateSold>2012-07-05</DateSold>
          <GrossSalesPrice>30000</GrossSalesPrice>
          <CostOrOtherBasis>29631</CostOrOtherBasis>
          <GainOrLoss>369</GainOrLoss>
          <GainsMinusExcessOrLosses>369</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>126.199 AMERICAN EUROPACIFIC GRTH F2</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2010-12-10</DateAcquired>
          <DateSold>2012-11-21</DateSold>
          <GrossSalesPrice>5000</GrossSalesPrice>
          <CostOrOtherBasis>4945</CostOrOtherBasis>
          <GainOrLoss>55</GainOrLoss>
          <GainsMinusExcessOrLosses>55</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>759.878 OAKMARK INTL SMALL CAP CL I</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2010-12-10</DateAcquired>
          <DateSold>2012-11-21</DateSold>
          <GrossSalesPrice>10000</GrossSalesPrice>
          <CostOrOtherBasis>10576</CostOrOtherBasis>
          <GainOrLoss>-576</GainOrLoss>
          <GainsMinusExcessOrLosses>-576</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>456.633 LAUDUS MONDRIAN EMG MKT INS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-12-24</DateAcquired>
          <DateSold>2012-11-15</DateSold>
          <GrossSalesPrice>4183</GrossSalesPrice>
          <CostOrOtherBasis>3936</CostOrOtherBasis>
          <GainOrLoss>247</GainOrLoss>
          <GainsMinusExcessOrLosses>247</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>432.455 LAUDUS MONDRIAN EMG MKT INS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-12-24</DateAcquired>
          <DateSold>2012-11-16</DateSold>
          <GrossSalesPrice>3970</GrossSalesPrice>
          <CostOrOtherBasis>2875</CostOrOtherBasis>
          <GainOrLoss>1095</GainOrLoss>
          <GainsMinusExcessOrLosses>1095</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>452.744 LAUDUS MONDRIAN EMG MKT INS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-04-21</DateAcquired>
          <DateSold>2012-11-19</DateSold>
          <GrossSalesPrice>4192</GrossSalesPrice>
          <CostOrOtherBasis>2653</CostOrOtherBasis>
          <GainOrLoss>1539</GainOrLoss>
          <GainsMinusExcessOrLosses>1539</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>451.474 LAUDUS MONDRIAN EMG MKT INS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-04-21</DateAcquired>
          <DateSold>2012-11-20</DateSold>
          <GrossSalesPrice>4163</GrossSalesPrice>
          <CostOrOtherBasis>2646</CostOrOtherBasis>
          <GainOrLoss>1517</GainOrLoss>
          <GainsMinusExcessOrLosses>1517</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>493.225 LAUDUS MONDRIAN EMG MKT INS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-04-21</DateAcquired>
          <DateSold>2012-11-21</DateSold>
          <GrossSalesPrice>4567</GrossSalesPrice>
          <CostOrOtherBasis>2890</CostOrOtherBasis>
          <GainOrLoss>1677</GainOrLoss>
          <GainsMinusExcessOrLosses>1677</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>1437.815 BROWN ADV GROWTH EOTY XXX-XX-XXXX</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2008-07-28</DateAcquired>
          <DateSold>2012-07-05</DateSold>
          <GrossSalesPrice>20000</GrossSalesPrice>
          <CostOrOtherBasis>14091</CostOrOtherBasis>
          <GainOrLoss>5909</GainOrLoss>
          <GainsMinusExcessOrLosses>5909</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>1618.124 BROWN ADVISORY VALUE</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2010-12-03</DateAcquired>
          <DateSold>2012-07-05</DateSold>
          <GrossSalesPrice>20000</GrossSalesPrice>
          <CostOrOtherBasis>18932</CostOrOtherBasis>
          <GainOrLoss>1068</GainOrLoss>
          <GainsMinusExcessOrLosses>1068</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>475.285 SCOUT INTERNATIONAL FUND</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2010-12-10</DateAcquired>
          <DateSold>2012-11-21</DateSold>
          <GrossSalesPrice>15000</GrossSalesPrice>
          <CostOrOtherBasis>14134</CostOrOtherBasis>
          <GainOrLoss>866</GainOrLoss>
          <GainsMinusExcessOrLosses>866</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>225.581 VAN ECK GLOBAL HARD ASSETS I</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2010-12-03</DateAcquired>
          <DateSold>2012-11-21</DateSold>
          <GrossSalesPrice>10000</GrossSalesPrice>
          <CostOrOtherBasis>11543</CostOrOtherBasis>
          <GainOrLoss>-1543</GainOrLoss>
          <GainsMinusExcessOrLosses>-1543</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>CAPITAL GAINS DIVIDENDS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <GrossSalesPrice>7974</GrossSalesPrice>
          <GainOrLoss>7974</GainOrLoss>
          <GainsMinusExcessOrLosses>7974</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainNetIncome>20216</CapitalGainNetIncome>
      </CapitalGainsAndLosses>
      <QlfyUndSect4940eForReducedTax>
        <LiableFor4942Tax>0</LiableFor4942Tax>
        <QualifyingDistributionsYear1>0</QualifyingDistributionsYear1>
        <NoncharitableAssetsYear1>808595</NoncharitableAssetsYear1>
        <DistributionRatioYear1>0.000000</DistributionRatioYear1>
        <QualifyingDistributionsYear2>25000</QualifyingDistributionsYear2>
        <NoncharitableAssetsYear2>676462</NoncharitableAssetsYear2>
        <DistributionRatioYear2>0.036957</DistributionRatioYear2>
        <QualifyingDistributionsYear3>29980</QualifyingDistributionsYear3>
        <NoncharitableAssetsYear3>529923</NoncharitableAssetsYear3>
        <DistributionRatioYear3>0.056574</DistributionRatioYear3>
        <QualifyingDistributionsYear4>30000</QualifyingDistributionsYear4>
        <NoncharitableAssetsYear4>612530</NoncharitableAssetsYear4>
        <DistributionRatioYear4>0.048977</DistributionRatioYear4>
        <QualifyingDistributionsYear5>30000</QualifyingDistributionsYear5>
        <NoncharitableAssetsYear5>716022</NoncharitableAssetsYear5>
        <DistributionRatioYear5>0.041898</DistributionRatioYear5>
        <TotalDistributionRatio>0.184406</TotalDistributionRatio>
        <AverageDistributionRatio>0.036881</AverageDistributionRatio>
        <NetNoncharitableAssets>891872</NetNoncharitableAssets>
        <AdjustedNoncharitableAssets>32893</AdjustedNoncharitableAssets>
        <OnePercentNetInvestmentIncome>249</OnePercentNetInvestmentIncome>
        <AdjNonchrtblAssetsAndOnePct>33142</AdjNonchrtblAssetsAndOnePct>
        <QualifyingDistributions>41000</QualifyingDistributions>
      </QlfyUndSect4940eForReducedTax>
      <ExciseTaxBasedOnInvestmentIncm>
        <DomesticOrgMeetingSect4940e>X</DomesticOrgMeetingSect4940e>
        <InvestmentIncomeExciseTax>249</InvestmentIncomeExciseTax>
        <TaxUnderSection511>0</TaxUnderSection511>
        <Subtotal>249</Subtotal>
        <SubtitleATax>0</SubtitleATax>
        <TaxBasedOnInvestmentIncome>249</TaxBasedOnInvestmentIncome>
        <EstTaxPaymentsAndOverpayment>80</EstTaxPaymentsAndOverpayment>
        <TaxPaidWithExtension>449</TaxPaidWithExtension>
        <TotalCreditsAndPayments>529</TotalCreditsAndPayments>
        <Overpayment>280</Overpayment>
        <AmountCreditedToNextYear>280</AmountCreditedToNextYear>
        <AmountToBeRefunded>0</AmountToBeRefunded>
      </ExciseTaxBasedOnInvestmentIncm>
      <StatementsRegardingActivities>
        <LegislativePoliticalActivities>0</LegislativePoliticalActivities>
        <MoreThan100Spent>0</MoreThan100Spent>
        <Form1120POLFiled>0</Form1120POLFiled>
        <Sect4955TaxOnOrganization>0</Sect4955TaxOnOrganization>
        <Sect4955TaxOnManagers>0</Sect4955TaxOnManagers>
        <ReimbursementOfTax>0</ReimbursementOfTax>
        <ActivitiesNotPrevReported>0</ActivitiesNotPrevReported>
        <ChangesToArticlesOrBylaws>0</ChangesToArticlesOrBylaws>
        <UnrelatedBusIncomeOver1000>0</UnrelatedBusIncomeOver1000>
        <TerminationEtc>0</TerminationEtc>
        <RequirementsOfSect508e>1</RequirementsOfSect508e>
        <AtLeast5000InAssets>1</AtLeast5000InAssets>
        <StatesFiledWith>MD</StatesFiledWith>
        <Form990PFFiledWithAG>1</Form990PFFiledWithAG>
        <PrivateOperatingFoundation>0</PrivateOperatingFoundation>
        <NewSubstantialContributors>0</NewSubstantialContributors>
        <InterestInControlledEntity>0</InterestInControlledEntity>
        <ApplicableInsuranceContract>0</ApplicableInsuranceContract>
        <ComplyWithPublicInspectionRqr>1</ComplyWithPublicInspectionRqr>
        <WebsiteAddress>N/A</WebsiteAddress>
        <BooksInCareOfPersonName>HUGH A MITCHELL JR</BooksInCareOfPersonName>
        <BooksInCareOfPhoneNumber>4103470506</BooksInCareOfPhoneNumber>
        <BooksInCareOfUSAddress>
          <AddressLine1>7 ST PAUL ST STE 910</AddressLine1>
          <City>BALTIMORE</City>
          <State>MD</State>
          <ZIPCode>212021626</ZIPCode>
        </BooksInCareOfUSAddress>
        <ForeignBank>0</ForeignBank>
      </StatementsRegardingActivities>
      <StatementsRegardingActy4720>
        <SaleOrExchangeWithDsqflyPerson>0</SaleOrExchangeWithDsqflyPerson>
        <BorrowOrLendWithDsqflyPerson>0</BorrowOrLendWithDsqflyPerson>
        <FurnishedGoodsWithDsqflyPerson>0</FurnishedGoodsWithDsqflyPerson>
        <PayCompensationToDsqflyPerson>0</PayCompensationToDsqflyPerson>
        <TransferAssetsToDsqflyPerson>0</TransferAssetsToDsqflyPerson>
        <PaymentToGovernmentOffical>0</PaymentToGovernmentOffical>
        <UncorrectedPriorActs>0</UncorrectedPriorActs>
        <UndistributedIncomePriorYears>0</UndistributedIncomePriorYears>
        <BusinessHoldings>0</BusinessHoldings>
        <JeopardyInvestments>0</JeopardyInvestments>
        <UncorrectedJeopardyInvestments>0</UncorrectedJeopardyInvestments>
        <InfluenceLegislation>0</InfluenceLegislation>
        <InfluenceElection>0</InfluenceElection>
        <GrantsToIndividuals>0</GrantsToIndividuals>
        <GrantsToOrganizations>0</GrantsToOrganizations>
        <NoncharitablePurpose>0</NoncharitablePurpose>
        <RcvFundsToPayPrsnlBnftContract>0</RcvFundsToPayPrsnlBnftContract>
        <PayPremiumsPrsnlBnftContract>0</PayPremiumsPrsnlBnftContract>
        <ProhibitedTaxShelterTransactn>0</ProhibitedTaxShelterTransactn>
      </StatementsRegardingActy4720>
      <OfcrDirTrusteesKeyEmployeeInfo>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>ANNE L STONE</PersonName>
          <USAddress>
            <AddressLine1>10 BOWEN MILL ROAD</AddressLine1>
            <City>BALITMORE</City>
            <State>MD</State>
            <ZIPCode>21212</ZIPCode>
          </USAddress>
          <Title>DIRECTOR/PRESIDENT/TREAS</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>JAMES D STONE JR</PersonName>
          <USAddress>
            <AddressLine1>5 HANSON STREET</AddressLine1>
            <City>BOSTON</City>
            <State>MA</State>
            <ZIPCode>02118</ZIPCode>
          </USAddress>
          <Title>DIRECTOR/VICE-PRESIDENT</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>JOHN L STONE</PersonName>
          <USAddress>
            <AddressLine1>25067 HALL ROAD</AddressLine1>
            <City>CHESHIRE</City>
            <State>OR</State>
            <ZIPCode>97419</ZIPCode>
          </USAddress>
          <Title>DIRECTOR/SECRETARY</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <CompOfHighestPaidEmplNONE>NONE</CompOfHighestPaidEmplNONE>
        <TotNumberOfOthEmplPaidOver50k>0</TotNumberOfOthEmplPaidOver50k>
        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
        <TotNumberOfCntrctPaidOver50k>0</TotNumberOfCntrctPaidOver50k>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SumOfProgramRelatedInvestments>
        <Total>0</Total>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>889293</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>16161</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>0</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>905454</TotalFMVOfUnusedAssets>
        <ReductionClaimed>0</ReductionClaimed>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>905454</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>13582</CashDeemedCharitable>
        <NetNoncharitableAssets>891872</NetNoncharitableAssets>
        <MinimumInvestmentReturn>44594</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>44594</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>249</TaxBasedOnInvestmentIncome>
        <TotalTax>249</TotalTax>
        <DistributableAmountBeforeAdj>44345</DistributableAmountBeforeAdj>
        <RecoveriesQlfyDistributions>0</RecoveriesQlfyDistributions>
        <DistributableAmountBeforeDed>44345</DistributableAmountBeforeDed>
        <DeductionFrDistributableAmount>0</DeductionFrDistributableAmount>
        <DistributableAmountAsAdjusted>44345</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>41000</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <QualifyingDistributions>41000</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>249</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>40751</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>44345</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>40350</UndistributedIncomePriorYear>
        <PriorYear1>2010</PriorYear1>
        <TotalForPriorYears>145</TotalForPriorYears>
        <TotalExcessDistriCarryover>0</TotalExcessDistriCarryover>
        <QualifyingDistributions>41000</QualifyingDistributions>
        <AppliedToYear1>40350</AppliedToYear1>
        <AppliedToPriorYears referenceDocumentId="RetDoc12000100081">145</AppliedToPriorYears>
        <TreatedAsDistriFromCorpus>0</TreatedAsDistriFromCorpus>
        <AppliedToCurrentYear>505</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>0</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>0</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>0</ExcessDistriCyovAppliedCY>
        <TotalCorpus>0</TotalCorpus>
        <PriorYearUndistributedIncome>0</PriorYearUndistributedIncome>
        <PriorYearDeficiencyOrTax>0</PriorYearDeficiencyOrTax>
        <TaxableAmount1>0</TaxableAmount1>
        <TaxableAmount2>0</TaxableAmount2>
        <UndistributedIncomeCY>43840</UndistributedIncomeCY>
        <DistriFromCorpus170b1EOr4942g3>0</DistriFromCorpus170b1EOr4942g3>
        <ExcessDistriCyovFromYear5>0</ExcessDistriCyovFromYear5>
        <ExcessDistriCyovToNextYear>0</ExcessDistriCyovToNextYear>
      </UndistributedIncome>
      <SupplementaryInformation>
        <ContributingManager>ANNE L STONE</ContributingManager>
        <OnlyContributesToPreselected>X</OnlyContributesToPreselected>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CHESAPEAKE BAY FOUNDATION INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>6 HERNDON AVENUE</AddressLine1>
            <City>ANNAPOLIS</City>
            <State>MD</State>
            <ZIPCode>21403</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING FUNDS</PurposeOfGrantOrContribution>
          <Amount>11000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>THE NATURE CONSERVANCY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4245 NORTH FAIRFAX DRIVE SUITE 100</AddressLine1>
            <City>ARLINGTON</City>
            <State>VA</State>
            <ZIPCode>22203</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING FUNDS</PurposeOfGrantOrContribution>
          <Amount>20000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>THE ALVIN AILEY DANCE FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>405 W 55TH STREET</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10019</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING FUNDS</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>41000</TotGrantOrContriPaidDuringYear>
        <TotGrantOrContriApprovedFuture>0</TotGrantOrContriApprovedFuture>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>10402</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>20216</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
          <UnrelatedBusinessIncomeAmount>0</UnrelatedBusinessIncomeAmount>
          <ExclusionAmount>30618</ExclusionAmount>
          <RelatedOrExemptFunctionIncome>0</RelatedOrExemptFunctionIncome>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>30618</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
      <TrnsfrTrRlnWithNoncharitableEO>
        <TrnsfrOfCashToNoncharitableEO>0</TrnsfrOfCashToNoncharitableEO>
        <TrnsfrOthAssetsNoncharitableEO>0</TrnsfrOthAssetsNoncharitableEO>
        <SalesOrExchangesOfAssets>0</SalesOrExchangesOfAssets>
        <PurchaseAssetsNoncharitableEO>0</PurchaseAssetsNoncharitableEO>
        <RentalOfFacilitiesEtc>0</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>0</ReimbursementArrangements>
        <LoansOrLoanGuarantees>0</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>0</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>0</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>0</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
    </IRS990PF>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <Organization501c3ExemptPF>X</Organization501c3ExemptPF>
      <GeneralRule>X</GeneralRule>
      <ContributorInfo>
        <ContributorNumber>1</ContributorNumber>
        <ContributorNameIndividual>ANNE L STONE</ContributorNameIndividual>
        <ContributorAddressUS>
          <AddressLine1>10 BOWEN MILL ROAD</AddressLine1>
          <City>BALTIMORE</City>
          <State>MD</State>
          <ZIPCode>21212</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>60394</AggregateContributions>
        <PersonContributionType>X</PersonContributionType>
      </ContributorInfo>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFees>
        <Category>ACCOUNTING FEES</Category>
        <Amount>1985</Amount>
        <NetInvestmentIncome>1985</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </AccountingFees>
    </AccountingFeesSchedule>
    <AppliedToPriorYearElection documentId="RetDoc12000100081">
      <Election>PURSUANT TO IRC SECTION 4942(H)(2) AND REGULATION 53.4942(A)-3(D)(2), THE FOUNDATION HEREBY ELECTS TO TREAT CURRENT YEAR QUALIFYING DISTRIBUTIONS IN EXCESS OF THE IMMEDIATELY PRECEDING TAX YEAR'S UNDISTRIBUTED INCOME AS BEING MADE OUT OF UNDISTRIBUTED INCOME FROM THE TAX YEAR ENDING DECEMBER 31, 2010 IN THE AMOUNT OF $145.</Election>
    </AppliedToPriorYearElection>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorpBonds>
        <NameOfBond>BROWN INVESTMENTS</NameOfBond>
        <EOYBookValue>102645</EOYBookValue>
        <EOYFMV>104558</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorpStock>
        <NameOfStock>BROWN INVESTMENTS</NameOfStock>
        <EOYBookValue>670521</EOYBookValue>
        <EOYFMV>800093</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreases>
        <Description>RECONCILING VARIANCE</Description>
        <Amount>4183</Amount>
      </OtherDecreases>
    </OtherDecreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFees>
        <Category>INVESTMENT ADVISOR FEE</Category>
        <Amount>3639</Amount>
        <NetInvestmentIncome>3639</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherProfessionalFees>
      <OtherProfessionalFees>
        <Category>PNC BANK FEES</Category>
        <Amount>54</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherProfessionalFees>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <Taxes>
        <Category>FOREIGN TAXES</Category>
        <Amount>100</Amount>
        <NetInvestmentIncome>100</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
      <Taxes>
        <Category>ESTIMATED 2012 TAXES</Category>
        <Amount>80</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
      <Taxes>
        <Category>TAXES PAID FOR 2011</Category>
        <Amount>97</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>
