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    <Timestamp>2012-05-08T11:46:41-05:00</Timestamp>
    <TaxPeriodEndDate>2011-12-31</TaxPeriodEndDate>
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        <BusinessNameLine1>BATCHELOR TILLERY &amp; ROBERTS LLP</BusinessNameLine1>
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        <AddressLine1>3605 GLENWOOD AVENUE SUITE 350</AddressLine1>
        <City>RALEIGH</City>
        <State>NC</State>
        <ZIPCode>27612</ZIPCode>
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      <Name>
        <BusinessNameLine1>THE ZELNAK PRIVATE FOUNDATION</BusinessNameLine1>
      </Name>
      <InCareOfName>% US TRUST COMPANY</InCareOfName>
      <NameControl>ZELN</NameControl>
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        <City>GREENSBORO</City>
        <State>NC</State>
        <ZIPCode>27402</ZIPCode>
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    <Officer>
      <Name>STEPHEN P ZELNAK</Name>
      <Title>TRUSTEE</Title>
      <DateSigned>2012-05-08</DateSigned>
      <AuthorizeThirdParty>true</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>ANN H TILLERY</Name>
      <Phone>9197878212</Phone>
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    <TaxYear>2011</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
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        <CapitalGainsAndLossesInfo>
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        <CapitalGainsAndLossesInfo>
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        <CapitalGainsAndLossesInfo>
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        <CapitalGainsAndLossesInfo>
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            <State>NC</State>
            <ZIPCode>27609</ZIPCode>
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      <PrivateOperatingFoundations />
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        <ContributingManager>STEPHEN P ZELNAK JR</ContributingManager>
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            <City>ATLANTA</City>
            <State>GA</State>
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          <RecipientRelationship>NONE</RecipientRelationship>
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        <GrantOrContriPaidDuringYear>
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            <BusinessNameLine1>CAMPUS CRUSADE FOR CHRIST</BusinessNameLine1>
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            <City>ORLANDO</City>
            <State>FL</State>
            <ZIPCode>328628222</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>NON-PROFIT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE-GENERAL SUPPORT</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ANGEL MINISTRIES</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>5115 HOLLYRIDGE DRIVE</AddressLine1>
            <City>RALEIGH</City>
            <State>NC</State>
            <ZIPCode>276123111</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>NON-PROFIT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE-GENERAL SUPPORT</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>1350000</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <FeesContractsFromGovtAgencies />
        <MembershipDuesAndAssessments />
        <IntOnSavingsAndTempCashInvst>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>174</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>235713</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <NetRentalIncmReDebtFincdProp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncmPersonalProperty />
        <OtherInvestmentIncomePartVII />
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>47902</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <NetIncomeLossFromSpecialEvents />
        <GrossProfitLossSalesOfInvntry />
        <SubtotalsPartXVIA>
          <ExclusionAmount>283789</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>283789</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
      <TrnsfrTrRlnWithNoncharitableEO>
        <TrnsfrOfCashToNoncharitableEO>false</TrnsfrOfCashToNoncharitableEO>
        <TrnsfrOthAssetsNoncharitableEO>false</TrnsfrOthAssetsNoncharitableEO>
        <SalesOrExchangesOfAssets>false</SalesOrExchangesOfAssets>
        <PurchaseAssetsNoncharitableEO>false</PurchaseAssetsNoncharitableEO>
        <RentalOfFacilitiesEtc>false</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>false</ReimbursementArrangements>
        <LoansOrLoanGuarantees>false</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>false</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>false</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>false</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
    </IRS990PF>
    <AllOthProgRltdInvestmentsSch documentId="AllOthProgInvSch">
      <AllOthProgRltdInvestments>
        <Description>N/A</Description>
      </AllOthProgRltdInvestments>
    </AllOthProgRltdInvestmentsSch>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 BEAR STEARNS COS INC</NameOfBond>
        <EOYBookValue>146091</EOYBookValue>
        <EOYFMV>167585</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 BELLSOUTH CORP</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>125,000 CATERPILLAR FINL SVC</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 COCA-COLA CO</NameOfBond>
        <EOYBookValue>155729</EOYBookValue>
        <EOYFMV>180078</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 CONSOLIDATED EDISON CO</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 CREDIT SUISSE FIRST BO</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 CREDIT SUISSE 1ST BOST</NameOfBond>
        <EOYBookValue>149886</EOYBookValue>
        <EOYFMV>153872</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 GENERAL ELECTRIC CAP C</NameOfBond>
        <EOYBookValue>139234</EOYBookValue>
        <EOYFMV>166017</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 HONEYWELL INTL INC</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 NATIONAL RURAL UTIL CO</NameOfBond>
        <EOYBookValue>176239</EOYBookValue>
        <EOYFMV>215813</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 PEPISCO INC</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 TARGET CORP</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 WACHOVIA CORP</NameOfBond>
        <EOYBookValue>138816</EOYBookValue>
        <EOYFMV>170403</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 WELLS FARGO &amp; CO</NameOfBond>
        <EOYBookValue>149166</EOYBookValue>
        <EOYFMV>157437</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 BERKSHIRE HATHAWAY FIN</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 PFIZER INC</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 PROCTOR &amp; GAMBLE CO</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 BARCLAYS BK PLC</NameOfBond>
        <EOYBookValue>156101</EOYBookValue>
        <EOYFMV>154083</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 CISCO SYS INC</NameOfBond>
        <EOYBookValue>159271</EOYBookValue>
        <EOYFMV>170541</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 PFIZER INC</NameOfBond>
        <EOYBookValue>179557</EOYBookValue>
        <EOYFMV>185086</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 SCHERING PLOUGH CORP</NameOfBond>
        <EOYBookValue>176688</EOYBookValue>
        <EOYFMV>183891</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>125,000 ORACLE CORP</NameOfBond>
        <EOYBookValue>148395</EOYBookValue>
        <EOYFMV>151685</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>125,000 UNITED TECHNOLOGIES CO</NameOfBond>
        <EOYBookValue>153365</EOYBookValue>
        <EOYFMV>154460</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 WAL-MART STORES INC</NameOfBond>
        <EOYBookValue>177360</EOYBookValue>
        <EOYFMV>177022</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 DU PONTE DE NEMOURS</NameOfBond>
        <EOYBookValue>184206</EOYBookValue>
        <EOYFMV>183342</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 AT&amp;T INC</NameOfBond>
        <EOYBookValue>156684</EOYBookValue>
        <EOYFMV>156321</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>100,000 HONEYWELL INTL INC</NameOfBond>
        <EOYBookValue>101391</EOYBookValue>
        <EOYFMV>116301</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150,000 UNITED PARCEL SERVICE</NameOfBond>
        <EOYBookValue>183932</EOYBookValue>
        <EOYFMV>181192</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsGovtObligationsSch documentId="InvGovtObligSch">
      <USGovtSecuritiesEOYBookValue>329375</USGovtSecuritiesEOYBookValue>
      <USGovtSecuritiesEOYFMV>356168</USGovtSecuritiesEOYFMV>
    </InvestmentsGovtObligationsSch>
    <LandEtcSchedule2 documentId="LandEtcSch2" />
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssets>
        <Description>ACCRUED INTEREST PURCHASED</Description>
        <BOYBookValue>1495</BOYBookValue>
        <EOYBookValue>7834</EOYBookValue>
        <EOYFMV>7834</EOYFMV>
      </OtherAssets>
    </OtherAssetsSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFees>
        <Category>US TRUST ASSET FEES</Category>
        <Amount>19166</Amount>
        <NetInvestmentIncome>19166</NetInvestmentIncome>
      </OtherProfessionalFees>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <Taxes>
        <Category>2011 FEDERAL EST. TAX PMTS.</Category>
        <Amount>4160</Amount>
      </Taxes>
      <Taxes>
        <Category>2010 FEDERAL BALANCE DUE</Category>
        <Amount>919</Amount>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>