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        </OfcrDirTrusteesOrKeyEmployee>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SummaryOfDirectCharitableActy>
        <Description1>N/A</Description1>
      </SummaryOfDirectCharitableActy>
      <SumOfProgramRelatedInvestments>
        <Description1>NOT APPLICABLE</Description1>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>340140</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>1402</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>0</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>341542</TotalFMVOfUnusedAssets>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>341542</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>5123</CashDeemedCharitable>
        <NetNoncharitableAssets>336419</NetNoncharitableAssets>
        <MinimumInvestmentReturn>16821</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>16821</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>0</TaxBasedOnInvestmentIncome>
        <TotalTax>0</TotalTax>
        <DistributableAmountBeforeAdj>16821</DistributableAmountBeforeAdj>
        <DistributableAmountBeforeDed>16821</DistributableAmountBeforeDed>
        <DistributableAmountAsAdjusted>16821</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>26330</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <AmountsPaidAcqCharitableAssets>0</AmountsPaidAcqCharitableAssets>
        <AmountsSetAsideSuitabilityTest>0</AmountsSetAsideSuitabilityTest>
        <AmountsSetAsideCashDistriTest>0</AmountsSetAsideCashDistriTest>
        <QualifyingDistributions>26330</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>0</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>26330</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>16821</DistributableAmountAsAdjusted>
        <PriorYear1>2008</PriorYear1>
        <PriorYear2>2007</PriorYear2>
        <PriorYear3>2006</PriorYear3>
        <TotalForPriorYears>0</TotalForPriorYears>
        <ExcessDistriCarryoverYear4>1461</ExcessDistriCarryoverYear4>
        <ExcessDistriCarryoverYear3>5957</ExcessDistriCarryoverYear3>
        <ExcessDistriCarryoverYear2>4132</ExcessDistriCarryoverYear2>
        <TotalExcessDistriCarryover>11550</TotalExcessDistriCarryover>
        <QualifyingDistributions>26330</QualifyingDistributions>
        <AppliedToCurrentYear>16821</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>9509</RemainingDistriFromCorpus>
        <TotalCorpus>21059</TotalCorpus>
        <PriorYearUndistributedIncome>0</PriorYearUndistributedIncome>
        <TaxableAmount1>0</TaxableAmount1>
        <UndistributedIncomeCY>0</UndistributedIncomeCY>
        <ExcessDistriCyovToNextYear>21059</ExcessDistriCyovToNextYear>
        <ExcessFromYear4>1461</ExcessFromYear4>
        <ExcessFromYear3>5957</ExcessFromYear3>
        <ExcessFromYear2>4132</ExcessFromYear2>
        <ExcessFromCurrentYear>9509</ExcessFromCurrentYear>
      </UndistributedIncome>
      <PrivateOperatingFoundations />
      <SupplementaryInformation>
        <ContributingManager>NONE</ContributingManager>
        <ShareholderManager>NONE</ShareholderManager>
        <AppicationSubmissionInfo>
          <RecipientName>THE MARY DBT SEMANS FOUNDATION</RecipientName>
          <RecipientUSAddress>
            <AddressLine1>1044 WEST FOREST HILLS BLVD</AddressLine1>
            <City>DURHAM</City>
            <State>NC</State>
            <ZIPCode>27707</ZIPCode>
          </RecipientUSAddress>
          <RecipientPhoneNumber>9194935591</RecipientPhoneNumber>
          <FormAndInfoAndMaterials>NO SPECIFIC FORM IS REQUIRED. ALL APPLICATIONS SHOULD BE IN WRITING, IDENTIFYING THE REQUESTING ORGANIZATION AND THE PURPOSE FOR THE GRANT.</FormAndInfoAndMaterials>
          <SubmissionDeadlines>APPLICATIONS ARE ACCEPTED YEAR ROUND</SubmissionDeadlines>
          <RestrictionsOnAwards>GRANTEE ORGANIZATIONS MUST BE RECOGNIZED BY THE IRS AS CHARITABLE A COPY OF THE ORGANIZATIONS EXEMPTION LETTER SHOULD BE SUBMITTED ALONG WITH THE GRANT REQUEST.</RestrictionsOnAwards>
        </AppicationSubmissionInfo>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CARING HOUSE INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2625 PICKETT ROAD</AddressLine1>
            <City>DURHAM</City>
            <State>NC</State>
            <ZIPCode>27705</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SUPPORT OF SERVICES FOR DUKE COMPREHENSIVE CANCER CENTER PATIENTS AND THEIR CAREGIVERS</PurposeOfGrantOrContribution>
          <Amount>4250</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>EL FUTURO INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>136 E CHAPEL HILL ST</AddressLine1>
            <City>DURHAM</City>
            <State>NC</State>
            <ZIPCode>27701</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SUPPORT OF MENTAL HEALTH SERVICES FOR TEN CHILDREN AND THEIR FAMILIES</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FAMILY HEALTH MINISTRIES INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2344 OPERATIONS DRIVE STE 201</AddressLine1>
            <City>DURHAM</City>
            <State>NC</State>
            <ZIPCode>27705</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SUPPORT OF THE BLANCHARD HEALTH CLINIC IN HAITI</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HOUSE OF MERCY INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>701 MERCY DRIVE</AddressLine1>
            <City>BELMONT</City>
            <State>NC</State>
            <ZIPCode>28012</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SUPPORT OF SERVICES FOR PERSONS LIVING WITH ADVANCED AIDS WHO FACE HOMELESSNESS</PurposeOfGrantOrContribution>
          <Amount>4250</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NO RULES THEATRE COMPANY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>SOUTHEAST STATION</AddressLine1>
            <AddressLine2>PO BOX 15332</AddressLine2>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20003</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SUPPORT TO MAINTAIN A BRIDGE FOR ALUMNI FROM TEH UNCSA INTO THE PROFESSIONAL WORLD OF THEATRE IN WINSTON-SALEM, NC AND WASHINGTON, DC</PurposeOfGrantOrContribution>
          <Amount>2500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SOUTHWEST VIRGINIA COMMUNITY COLLGE EDUCATIONAL FO</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>KING COMMUNITY CENTER</AddressLine1>
            <AddressLine2>786 COMMUNITY COLLEGE ROAD</AddressLine2>
            <City>CEDAR BLUFF</City>
            <State>VA</State>
            <ZIPCode>24609</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SUPPORT OF THE 2011 FESTIVAL, OUR FRENCH CONNECTIONS</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>THE TRIANGLE NEW SCHOOL FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1300 ST MARYS ST SUITE 500</AddressLine1>
            <City>RALEIGH</City>
            <State>NC</State>
            <ZIPCode>27605</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SUPPORT OF CELEBRATE INCLUSION!, A PARTNERSHIP WITH MARBLES KIDS MUSEUM TO TRANSFORM THE MUSEUM EXPERIENCE FOR CHILDREN WITH SEVERE COMMUNICATION AND PHYSICAL DISABILITIES</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>25000</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <FeesContractsFromGovtAgencies />
        <MembershipDuesAndAssessments />
        <IntOnSavingsAndTempCashInvst />
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>8827</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <NetRentalIncmReDebtFincdProp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncmPersonalProperty />
        <OtherInvestmentIncomePartVII />
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>-4200</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <NetIncomeLossFromSpecialEvents />
        <GrossProfitLossSalesOfInvntry />
        <SubtotalsPartXVIA>
          <ExclusionAmount>4627</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>4627</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>
    <AccountingFeesSchedule documentId="AccountingFeesSch">
      <AccountingFees>
        <Category>AUDIT AND TAX FEES</Category>
        <Amount>2200</Amount>
        <NetInvestmentIncome>1100</NetInvestmentIncome>
        <AdjustedNetIncome>1100</AdjustedNetIncome>
        <DisbursementsCharitablePrps>1100</DisbursementsCharitablePrps>
      </AccountingFees>
    </AccountingFeesSchedule>
    <AllOthProgRltdInvestmentsSch documentId="AllOthProgInvSch">
      <AllOthProgRltdInvestments>
        <Description>NOT APPLICABLE</Description>
      </AllOthProgRltdInvestments>
    </AllOthProgRltdInvestmentsSch>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorpBonds>
        <NameOfBond>TROWE PRICE SHORT TERM BOND FD</NameOfBond>
        <EOYBookValue>27250</EOYBookValue>
        <EOYFMV>27226</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>ISHARES BARCLAYS TIPS BOND</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>ISHARES BARCLAYS MBS FIXED RAT</NameOfBond>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>T ROWE PRICE INTL BOND FUND</NameOfBond>
        <EOYBookValue>10715</EOYBookValue>
        <EOYFMV>10929</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>PIMCO DEVELOPING LOCAL MKTS FD</NameOfBond>
        <EOYBookValue>17820</EOYBookValue>
        <EOYFMV>18481</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorpStock>
        <NameOfStock>BRIDGEWAY BLUE CHIP 35 INDEX F</NameOfStock>
        <EOYBookValue>38864</EOYBookValue>
        <EOYFMV>36296</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>PIMCO ALL ASSET ALL AUTH FD</NameOfStock>
        <EOYBookValue>45635</EOYBookValue>
        <EOYFMV>44379</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>RYDEX ETF RUSSELL TOP 50</NameOfStock>
        <EOYBookValue>25383</EOYBookValue>
        <EOYFMV>36337</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>SPDR TRUST UNIT SR 1 EXP 2118</NameOfStock>
        <EOYBookValue>46883</EOYBookValue>
        <EOYFMV>55707</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>LAZARD EMERGING MKTS PORTFOLIO</NameOfStock>
        <EOYBookValue>16308</EOYBookValue>
        <EOYFMV>22889</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>ANNALY CAPITAL MANAGEMENT REIT</NameOfStock>
        <EOYBookValue>28516</EOYBookValue>
        <EOYFMV>28600</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BARCLAYS GEMS ASIA 8 ETNF</NameOfStock>
        <EOYBookValue>10725</EOYBookValue>
        <EOYFMV>10827</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>ISHARES TR MSCI EAFE FD</NameOfStock>
        <EOYBookValue>19119</EOYBookValue>
        <EOYFMV>19969</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <LandEtcSchedule2 documentId="LandEtcSch2" />
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpenses>
        <Description>BANK FEES</Description>
        <RevenueAndExpensesPerBooks>210</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>105</NetInvestmentIncome>
        <AdjustedNetIncome>105</AdjustedNetIncome>
        <DisbursementsCharitablePrps>105</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherLiabilitiesSchedule documentId="OtherLiabSch">
      <OtherLiabilities>
        <Description>CHARITABLE GIFT ANNUITY PAYABL</Description>
      </OtherLiabilities>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFees>
        <Category>INVESTMENT ADVISORY FEES</Category>
        <Amount>3072</Amount>
        <NetInvestmentIncome>3072</NetInvestmentIncome>
        <AdjustedNetIncome>3072</AdjustedNetIncome>
      </OtherProfessionalFees>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <Taxes>
        <Category>FEDERAL EXCISE TAX</Category>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>