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    <Timestamp>2011-07-05T16:25:50-05:00</Timestamp>
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        <BusinessNameLine1>ERNST &amp; YOUNG US LLP</BusinessNameLine1>
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        <BusinessNameLine1>THE SARA BLAKELY FOUNDATION INC</BusinessNameLine1>
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        <ZIPCode>30326</ZIPCode>
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      <Name>Laurie Ann Goldman</Name>
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    <Preparer>
      <Phone>4048748300</Phone>
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          <City>ATLANTA</City>
          <State>GA</State>
          <ZIPCode>30327</ZIPCode>
        </AddressUS>
        <EINOfRecipient>582408353</EINOfRecipient>
        <IRCSection>501(c)(3)</IRCSection>
        <AmountOfCashGrant>50000</AmountOfCashGrant>
        <PurposeOfGrant>Provides a challenging college preparatory program in a learning environment designed to foster the full potential of each student and to enable her to become a vital contributor to our complex global society.</PurposeOfGrant>
      </RecipientTable>
      <TotalNbrOf501C3AndGovtGrants>5</TotalNbrOf501C3AndGovtGrants>
      <Form990ScheduleIPartIV>
        <Identifier>PROCEDURES FOR MONITORING GRANT FUNDS</Identifier>
        <Explanation>THE ORGANIZATION INTENDS TO PROVIDE GRANTS TO OTHER ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(c)(3) OF THE CODE. THE ORGANIZATION WILL REQUIRE A WRITTEN GRANT PROPOSAL FOR ALL GRANTS MADE AS NEEDED TO ENSURE THAT GRANTS WILL BE USED CONSISTENT WITH EDUCATIONAL, CULTURAL, AND OTHER NON-PROFIT PURPOSES AS DEFINED BY 501(c)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION WILL REQUIRE THAT ALL GRANT PROPOSALS CONTAIN SPECIFIC ASSURANCES THAT WILL ENSURE PROPER USE OF GRANT FUNDS AND WILL REQUIRE PERIODIC WRITTEN REPORTS AND A FINAL SUMMARY OF EXPENDITURES AS WELL AS AN ACKNOWLEDGEMENT OF THE ORGANIZATION'S RIGHT TO WITHHOLD OR RECOVER GRANT FUNDS IN THE EVENT THAT THE ORGANIZATION DETERMINES THAT FUNDS ARE OR APPEAR TO BE MISUSED. BOARD OF DIRECTORS OF THE ORGANIZATION WILL REVIEW GRANT PROPOSALS ON A SEMI-ANNUAL BASIS OR MORE FREQUENT BASIS, IF NECESSARY, AND DECIDE HOW TO ALLOCATE FUNDS COLLECTED FROM ITS FUNDRAISING ACTIVITIES. IN EVALUATING GRANT PROPOSALS, THE BOARD OF DIRECTORS OF THE ORGANIZATION WILL LOOK FOR INNOVATIVE PROGRAMS OF THE HIGHEST QUALITY THAT PROVIDE DIRECT SERVICES TO THE RECIPIENTS AND SUPPORT THE PRIMARY GOAL OF THE ORGANIZATION TO TARGET ITS SUPPORT TO WOMEN. PROGRAMS WILL BE REVIEWED TO ENSURE THAT THEY HAVE LOW ADMINISTRATIVE COSTS, HAVE THE POTENTIAL TO ELICIT ADDITIONAL SUPPORT FROM THE PUBLIC AND PRIVATE SECTORS, AND PRODUCE MEASURABLE RESULTS. THE ORGANIZATION WILL NOT MAKE GRANTS TO COVER GENERAL OPERATIONAL DEFICITS AND NORMALLY WILL NOT CONTRIBUTE TO RESEARCH PROJECTS OR ENDOWMENTS. SCHEDULE I, PART II, LINE 1(h)- AMERICA'S JURNIOR MISS SCHOLARSHIP FOUNDATiON INSPIRES HIGH SCHOOL GIRLS TO DEVELOP THEIR FULL INDIVIDUAL POTENTIAL THROUGH A FUN TRANSFORMATIVE EXPERIENCE. SMILE TRAIN, INC. HELPS CHILDREN BORN WITH CLEFT LIP AND PALATE. ATLANTA'S WOMEN'S FOUNDATION, INC. SUPPORTS THE CHALLENGES OF WOMEN AND GIRLS. ONEXONE SUPPORTS, PRESERVES, AND IMPROVES THE LIVES OF UNDERPRIVILEGED AND IMPROVERISHED CHILDREN WITH EDUCATION, HEALTH AWAREMENTS, MITIGATION OF HUNGER, AND CLEAN WATER PROGRAMS. THE ALTANTA GIRLS' SCHOOL PROVIDES A CHALLENGING COLLEGE PREPARATORY PROGRAM IN A LEARNING ENVIRONMENT DESIGNED TO FOSTER THE FULL POTENTIAL OF EACH STUDENT AND TO ENABLE HER TO BECOME A VITAL CONTRIBUTOR TO OUR COMPLEX GLOBAL SOCIETY.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <GeneralExplanation>
        <Identifier>EXPLANATION</Identifier>
        <Explanation>FORM 990, PART VI, SECTION A, LINE 2: SARA BLAKELY IS THE DAUGHTER OF JOHN BLAKELY. FORM 990, PART VI, LINE 8B: THE ORGANIZATION DOES NOT CURRENTLY HAVE COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY, THUS, NO COMMITTEE MEETINGS OF THIS TYPE WERE HELD OR DOCUMENTED DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 11: THE FOUNDATION'S FORM 990 WAS PREPARED BY ITS PAID PREPARER UTILIZING INFORMATION PROVIDED BY THE FOUNDATION'S MANAGEMENT. COLLABORATIVE REVIEW OF THE RETURN BY THE ORGANIZATION'S EXTERNAL TAX ADVISORS AND MANAGEMENT WAS CONDUCTED. A FINAL COPY OF THE 990 WAS REVIEWED BY THE OFFICERS OF THE FOUNDATION, AND A COMPLETE COPY WAS PROVIDED TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION A, LINE 15: DURING ITS TAX YEAR, THE FOUNDATION DID NOT COMPENSATE ANY DIRECTOR, OFFICER OR TRUSTEE. AS SUCH, THE FOUNDATION DID NOT DEVELOP OR IMPLEMENT A COMPENSATION POLICY BECAUSE SUCH A POLICY WAS NOT NECESSARY. FORM 990, PART VI, SECTION B, LINE 12: POTENTIAL CONFLICTS OF INTEREST ARE MONITORED AND REVIEWED THROUGH A DUTY TO DISCLOSE REQUIREMENT FOR ALL INTERESTED PERSONS IN THE FOUNDATION. IF AN INTERESTED PERSON BELIEVES THAT HE/SHE MAY HAVE A CONFLICT OF INTEREST, HE/SHE SHOULD DISCLOSE THE INTEREST TO THE GOVERNING BOARD. THE REMAINING MEMBERS OF THE BOARD WILL THEN DISCUSS THE CONFLICT AND DETERMINE, BY VOTE, IF A CONFLICT EXISTS. TO DETERMINE IF A CONFLICT EXISTS AND POTENTIAL TREATMENT OF THE CONFLICT, THE INTERESTED PERSON MAY MAKE A PRESENTATION TO THE BOARD AND A THIRD-PARTY MAY BE APPOINTED TO INVESTIGATE ALTERNATIVES TO THE ITEM IN QUESTION. IF IT IS DETERMINED THAT A CONFLICT DOES EXIST, AND NO ALTERNATIVE IS AVAILABLE, THE REMAINING BOARD MEMBERS WILL DETERMINE, BY VOTE, HOW THE CONFLICT SHOULD BE TREATED. IN ADDITION, IF BOARD MEMBERS HAVE REASONABLE CAUSE TO BELIEVE THAT A CONFLICT EXISTS AMONG AN INTERESTED PARTY BEFORE THE PARTY HAS DISCLOSED THE POTENTIAL CONFLICT, THE PARTY WILL BE GIVEN THE OPPORTUNITY TO DISCLOSE THE DETAILS OF THE CONFLICT. THE REMAINING BOARD MEMBERS WILL THEN DETERMINE IF ANY CORRECTIVE ACTIONS SHOULD BE TAKEN. ALL CONFLICT OF INTEREST PROCEEDINGS WILL BE DOCUMENTED IN THE MINUTES OF THE GOVERNING BOARD MEETINGS. FORM 990, PART VI, SECTION C, LINE 19: GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE LOCATED AT 3344 PEACHTREE ROAD, ATLANTA, GEORGIA 30326.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR">
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>SPANX INC</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>3344 PEACHTREE ROAD SUITE 1700</AddressLine1>
          <City>ATLANTA</City>
          <State>GA</State>
          <ZIPCode>30326</ZIPCode>
        </AddressUS>
        <EIN>582530290</EIN>
        <PrimaryActivity>WHOLESALE</PrimaryActivity>
        <LegalDomicileState>GA</LegalDomicileState>
        <TypeOfEntity>S Corp</TypeOfEntity>
      </Form990ScheduleRPartIV>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>true</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>false</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>true</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>true</SharingOfFacilities>
      <SharingOfPaidEmployees>false</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
    </IRS990ScheduleR>
  </ReturnData>
</Return>