,r

Form

990-PF

OMB No 1545-0052

Return of Private Foundation

or Section 4947(aXl) Nonexempt Charitable Trust Treated as a Private Foundation
Note : The foundation may be able to use a copy* of this return to satisfy state , 2006, and endin g Amended return I Address change
A

2006
Name change

Department of the Treasury Internal Revenue Service

For calendar year 2006 , or tax year beg innin g G Check a ll that apply Initial return
of foundation

Final return

Name Use the IRS label . THE OLIVE BRANCH FOUNDATION , INC. Otherwise , Number and street (or P 0 box number if mail is not delivered to street print

Employer Identification number

34-1862239
address) Room/suite B Telephone number (see instructions)

or type.

P.O.

BOX 20881
C D

(330)

456-7900

State ZIP code See Specific city or town Instructions. CANTON OH 4 4 7 0 1 H Check type of organization X Section 501(c)(3) exempt private foundation Section 4947 ( a ) (1 ) nonexem p t charitable trust Other taxable p rivate foundation 1 Fair market value of all assets at end of year Accrual J Accountin method: X Cash g (from Part fl, column (c), line 16) y Other (s p ecif y ) _ _ _ _ _ _ _ _ _ _ _ _ _ Part column (d) must be on cash basis $ 4 , 264 , 410.

If exemption application is pending, check here 1 Foreign organizations, check here 2 Foreign organizations meeting the 85% test, check u here and attach computation If private foundation status was terminated E under section 507(bXl)(A) , check here F If the foundation is in a 60-month termination under section 507(bXlXB), check here .

ll- F]

Part I

Analysis o Revenue and Expenses (The total of amounts in

columns (b), (c), and (d) may not necessarily equal the amounts in column (a) see instructions) .)
1 2 Contributions. gifts, grants, etc, received (att sch) Ck " n if the foundn is not req to att Sch B

(a) Revenue and expenses per b oo k s

(b) Net investment income

(c) Adjusted net income

(d) Disbursements f or c h ari t a bl e purposes (cash basis only)

207 , 000.

Interest on savings and temporary cash investments

4 Dividends and interest from securities

5a Gross rents .
b Ne rental income or (loss) 6a Net gain/(loss) from sale of assets not on line 10 b Gross sales price for all 3,223 , 959. assets on line 6a 7 Capital gain net income (from Part IV, line 2)

199 168.

199 , 168.

607 , 420.

CV

607 , 420.

E E

8 Net short-term capital gain 9 Income modifications 10a Gross sales less returns and allowances b Less- Cost of goods sold c Gross profit/(loss) (aft sch) 11 Other income (attach schedule) Mandala Club LLC (11-3690801) 12 Total. Add lines 1 through 11
13 Compensation of officers, directors, trustees, etc

0. 1 , 013 , 588.

-9 , 814. 796 , 774.

o
E
R A

A D I N
s T
R

T I G A
D

14 15 16a b c 17 18 19 21 22 23 24

Other employee salaries and wages Pension plans, employee benefits Legal fees (attach schedule) L-1 6a Strnt; Accounting fees (attach sch) L-16b Stmt Other prof fees (attach sch) L-1 6c Stmt Interest Taxes (attach schedule) See Line 18 Stmt Depreciation (attach schedule) and depletion

1 11 3
,

601. 630 . 92 6 . 500.

11

92 6 .

20 Occupancy

E E
p

Travel, conferences, and meetings Printing and publications Other expenses (attach schedule)

CE^^^^

N
S E

See Line 23 Stmt

Total operatin g and administrative expenses . Add lines 13 through 23 Total expenses and disbursements.

1 39 C
19 , 053 1 , 587 , 66M. ( ,_

RE 1

i0
1 , 587 , 660. -

25 Contributions, gifts, grants paid

26 27

Add lines 24 and 25

Subtract line 26 from line 12: a Excess of revenue over expenses

1 606 713 -593 , 125.

ftt'?92t;.

1 587 660.

and disbursements
b Net Investment Income (if negative , enter -0-) C Adjusted net Income (if negative, enter -0-)

784,848.1 TEEA0301 oir29/07 Form 990-PF (2006)

BAA For Privacy Act and Paperwork Reduction Act Notice , see the instructions .

I Form 990- PF (20061 THF. OT.TVP.. RRANCH

PO[INfATT(N-

INC _ Beginning of year (a) Book Value

34-1 R;7739

Pane 7

P art II
1
2 3 4 5 6 7

B a l ance Sh eets

Attached schedules and amounts in the description column should be for end-of-year amounts only

(See instructions)

End of year (c) Fair Market Value (b) Book Value

Cash - non-interest-bearing
Savings and temporary cash investments Accounts receivable ----------Less' allowance for doubtful accounts 01 ----------Pledges receivable ----------Less: allowance for doubtful accounts ----------Grants receivable Receivables due from officers, directors, trustees, and other disqualified persons (attach schedule) (see instructions) Other notes and loans receivable (attach sch) 2 91 _ ,_ 2 98 . 9 Less: allowance for doubtful accounts ----------Inventories for sale or use Prepaid expenses and deferred charges

107 238.

113, 088.

113 088.

A S
S E T S 8 9

1 , 830 , 283.

2 919 298.

2,949 , 347.

10a Investments - U S and state government obligations (attach schedule) .

b Investments - corporate stock (attach schedule)

c Investments - corporate bonds (attach schedule) 11 Investments - land, buildings, and equipment basis

L-10b Stmt

2 , 764 , 455.

1 , 076 , 465.

1 , 201 , 975.

----------Less. accumulated depreciation l1b (attach schedule) - - ------12 Investments - mortgage loans 13 Investments - other (attach schedule) 14 Land, buildings, and equipment basis ----------Less: accumulated depreciation (attach schedule) 15 Other assets (describe ----------------16 Total assets (to be completed by all filers -

see instructions Also, see pa g e 1, item I

L I A B I L I T E S 17 18 19 20 21 22 23 Accounts payable and accrued expenses Grants payable Deferred revenue . Loans from officers, directors, trustees, & other disqualified persons Mortgages and other notes payable (attach schedule) Other liabilities (describe"` Total liabilities (add lines 17 throu g h 22) Foundations that follow SFAS 117 , check here and complete lines 24 through 26 and lines 30 and 31. Unrestricted . Temporarily restricted Permanently restricted Foundations that do not follow SFAS 117, check here and complete lines 27 through 31. 27 28 Capital stock, trust principal, or current funds Paid-in or capital surplus, or land, building, and equipment fund

4,701,976,

4 , 108 , 851. 1

4 , 26-4 , 410.

N F E U T N D S S E T S B A L A N

24 25 26

O C E

R S

29 Retained earnings, accumulated income, endowment, or other funds 30 Total net assets or fund balances (see instructions)
31 Total liabilities and net assetslfund balances

4 701, 976. 4,701,976. 4 , 701 , 976.

9 108 , 851. 4 , 108 , 851. 4 , 108 , 85 1.

see instructions)
dart III I Analysis OT (:flanges in Net Assets or Fund Balances 1 2 3 4 5 6 BAA

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) Enter amount from Part I, line 27a . Other increases not included in line 2 (itemize) ^ ---------------------------- -Add lines 1, 2, and 3 Decreases not included in line 2 (itemize) ^ ---------------------------- -Total net assets or fund balances at end of year ( line 4 minus line 5) - Part II, column (b) , line 30 TEEAo3o2 01 r29107

1 2 3 4 5 6

4 , 701 , 976. -593 , 125. 4 1 108,851. 4 , 108 , 851. Form 990-PF (2006)

F rm 990-PF 2006

THE OLIVE BRANCH FOUNDATION,

INC.
(b) How acquired P - Purchase D - Donation

34-1862239
(C) Date acquired (month , day, year)

Pa ge 3
(d) Date sold (month , day, year)

Part IV

Ca p ital Gains and Losses for Tax on Investment Income

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

la See attached detail sheets Statement 2

b Ca ital Gain distributions from investments c
d

various

various

various

various

e
(e) Gross sales price (f) Depreciation allowed (or allowable ) (g) Cost or other basis plus expense of sale (h) Gain or (loss) (e) plus (f) minus (g)

a b C
d e

3,212,132 . 11 , 826.

2 , 616 , 538. 0.

595 594. 11 , 826.

Com p lete only for assets showin (i) Fair Market Value as of 12/31/69

gain in column (h) and owned by the foundation on 12/31 /69 (k) Excess of column (i) (j) Adjusted basis over column Q ), if any as of 12/31 /69

(I) Gains (Column (h) gain minus column ( k), but not less than -0-) or Losses (from column (h))

a b c
d

0. 0.

0. 0.

0. 0.

595 594. 11 , 826.

e
2 3 Capital gain net income or (net capital loss) If ain, also enter in Part I, line 7 - [If?loss), enter - 0- in Part 1, line 7

607 420.

Net short - term capital gain or (loss) as defined in sections 1222(5) and (6): If gain , also enter in Part 1, line 8, column (c) (see instructions). If (loss ), enter -0in Part I , line 8

3 Part V I Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income (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. Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? If 'Yes,' the foundation does not qualify under section 4940 (e). Do not complete this part 1 Enter the appropriate amount in each column for each year; see instructions before making any entries. a (b) Base period years Adjusted qualifying distributions Net value of Calendar year (or tax year nonchantable-use assets beginning in) Yes

56 , 262.

No

Distribution ratio (column (b) divided by column (c))

2005 2004 2003 2002 2001 2 Total of line 1, column (d)

3

874 730. 703 489. 158,000. 488,852. 2,550 576.

5,278 5,444 5,092 4 , 719 , 4 , 440 ,

835. 323. 562. 278. 084. 2

3 4 5 6 7 8

0.165705 0.129215 0.031026 0.103586 0.574443 1.003975

0.200795 5 , 099 , 275. 1 , 023 , 909. 7 , 848. 1 , 031 , 757. 1 , 5 7660 .

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 Enter the net value of noncharitable-use assets for 2006 from Part X, line 5 Multiply line 4 by line 3 Enter 1 % of net investment income (1 % of Part I, line 27b) Add lines 5 and 6 Enter qualifying distributions from Part XII, line 4 . .

4 5 6 7 8

If line 8 is equal to or greater than line 7, check the box in Part VI, line 1 b, and complete that part using a 1 % tax rate . See the Part VI instructions. BAA Form 990-PF (2006)
TEEA0303 12/28/06

Form 990-PF (2006) T

Part VI

FOUNDATION, INC. 4-1862239 txcise Tax leased on investment income (Section 4940(a), 4940(b), 4940(e), or 4948 - see i nstructions) 1 _ 2 3 4 5

Page 4

1 a Exempt operating foundations described in section 4940(d)(2), check here and enter 'N/A' on line 1. Date of ruling letter. - _ _ _ - - (attach copy of ruling letter if necessary - see instructions) b Domestic foundations that meet the section 4940(e) requirements in Part V, check here X1 and enter 1 % of Part I, line 27b c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, column (b) 2

7 , 848.

Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) . . 3 Add lines 1 and 2 4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) 5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -06 Credits/Paymentsa 2006 estimated tax pmts and 2005 overpayment credited to 2006 4,466. 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 . . if Form 2220 is attached 8 Enter any penalty for underpayment of estimated tax Check here 9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amount owed .. 10 Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid 11 Enter the amount of line 10 to be: Credited to 2007 estimated tax ^ Refunded

0. 7 , 848. 0. 7 , 848.

7 8 9 10 11

4 , 466. 3 , 382.

Part VII-A Statements Regardina Activities

1 a During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign? b 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 la or 1b, attach a detailed description of the activities and copies of any materials published or distributed by the foundation in connection with the activities. c Did the foundation file Form 1120-POL for this year? d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year: o. $ $ (2) On foundation managers (1) On the foundation . e Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed on I- $ foundation managers . . 2 Has the foundation engaged in any activities that have not previously been reported to the IRS? If 'Yes,' attach a detailed description of the activities. Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments? If 'Yes,' attach a conformed copy of the changes 4a Did the foundation have unrelated business gross income of $1,000 or more during the year? . .. . b if 'Yes,' has it filed a tax return on Form 990-T for this year? .. . 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, or 3 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 foundation have at least $5,000 in assets at any time during the year? If 'Yes,' complete Part fl, column (c), and Part XV . . . 8a Enter the states to which the foundation reports or with which it is registered (see instructions) . .. 0' Ohio -------------------------------------------------------b If the answer is 'Yes' to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state as required by General Instruction G2 if'No,'attach explanation ... 9 10 BAA Is the foundation claiming status as a private operating foundation within the meaning of section 4942(1)(3) or 4942(j)(5) for calendar year 2006 or the taxable year beginning in 2006 (see instructions for Part XIV)7 If 'Yes,' complete Part XIV Did any persons become substantial contributors during the tax year? If 'Yes,' attach a schedule listing their names 10 X Yes 1a 1b No X X

1c

4a 4b 5

X X

8b

Form 990-PF(2006)

TEEA0304

01/29107

Form 990-PF (2006) THE OLIVE BRANCH FOUNDATION ,

INC.

34-1862239

Pa g e 5

Part VII-A Statements Regardin g Activities Continued

11 a At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)? If 'Yes', attach schedule (see instructions) 11a X

b If 'Yes', did the foundation have a binding written contract in effect on August 17, 2006, covering the interest, rents, royalties, an annuities described in the attachment for line 11 a? 11b 12 Did the foundation acquire a direct or indirect interest in any applicable insurance contract? 12 X 13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? 13 X Website address 0' N/A ------------------------ -----------------

14 The books are in care of ^

15

The Olive Branch Foundation -----------------------------

Telephone no ^

Located at ^ 612 Market-Ave- South, CantonL Ohio _ _ - - _ _ _ _ - ZIP + 4 ^ Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 - Check here and enter the amount of tax-exem pt interest received or accrued during the year

(330) 456-7900 ------------------------11^

44702 'i 15 Yes Yes Yes Yes Yes XJ No X No X No X No X] No No

Part VII- B I Statements Reg ardin g Activities for Which Form 4720 May Be Req uired
File Form 4720 if any item is checked in the Yes' column , unless an exception applies. 1 a During the year did the foundation (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)? (6) Agree to pay money or property to a government official? (Exception . Check 'No' if the foundation agreed to make a grant to or to employ the official for a period after termination of government service, if terminating within 90 days.) b If any answer is 'Yes' to la(1)-(6), did any of the acts fail to qualify under the exceptions described in Regulations section 53 .4941 (d)- 3 or in a current notice regarding disaster assistance (see instructions)? Organizations relying on a current notice regarding disaster assistance check here c Did the foundation engage in a prior year in any of the acts described in l a, other than excepted acts, that were not corrected before the first day of the tax year beginning in 2006? 2 Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private operating foundation defined in section 4942 (1)(3) or 49420 )(5))a At the end of tax year 2006, did the foundation have any undistributed income (lines 6d and 6e, Part XIII) for tax year(s) beginning before 2006 ' If 'Yes,' list the years 1" 20 , 20 , 20 , 20-0 Yes X] No

11 Yes

11 Yes

No

b Are there any years listed in 2a for which the foundation 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 all years listed, answer 'No' and attach statement - see instructions) c If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here

2b

11 20

,20

,20

,20
El Y es No

3a Did the foundation hold more than a 2% direct or indirect interest in any business en t erprise a t any t ime d uring th e year ? b If 'Yes,' did it have excess business holdings in 2006 as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of 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 foundation had excess business holdings in 2006.) 4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? b Did the foundation 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 beg inning in 2006? BAA

3b 4a

X X

4b X Form 990-PF (2006)

TEEA0305

01/29/07

Form 990-PF 2006 THE OLIVE BRANCH FOUNDATION , INC. 34-1862239 Part VII - B Stateme n ts Reg ardin g Activities for Which Form 4720 May Be Req uired Continued
5a During the year did the foundation pay or incur any amount to: (1) Carry on propaganda , or otherwise attempt to influence legislation (section 4945 (e))? (2) Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly , any voter registration drive? (3) Provide a grant to an individual for travel , study , or other similar purposes? (4) Provide a grant to an organization other than a charitable , etc, organization described in section 509 (a)(1), (2), or (3), or section 4940(d)(2)? (see instructions) (5) Provide for any purpose other than religious, charitable , scientific , literary, or educational purposes, or for the prevention of cruelty to children or animals? b If any answer is 'Yes' to 5a(1)-(5), did any of the transactions fail to qualify under the exceptions described in Regulations section 53 4945 or in a current notice regarding disaster assistance (see instructions)? Organizations relying on a current notice regarding disaster assistance check here c If the answer is 'Yes' to question 5a(4), does the foundation claim exemption from the tax because it maintained expenditure responsibility for the grant? If 'Yes,' attach the statement required by Regulations section 53 4945-5(d) 6a Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? b Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? If you answered 'Yes' to 6b, also file Form 8870. 7a At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? 11 Yes Yes Yes Yes Yes X] No No LXJ No No No

Page 6

5b Do. Yes F1 No

Yes

No 6b X

Yes

XQ No

b If yes, did the foundation receive any p roceeds or have any net income attributable to the transaction? 7b artVIII Information About Officers . Directors . Trustees . Foundation Manaaers . Hiahly Paid EmDlovees.

and Contractors
1 List all officers. directors, trustees. foundation mananere. and their cmmnencatinn (see inctructinnsl_

(a) Name and address

(b) Title and average hours per week devoted to position

(c) Compensation (If not paid , enter -0-)

(d) Contributions to employee benefit plans and deferred

(e) Expense account, other allowances

com pensation Marshall B.-Belden-Jr _ _ _ - _ _ _

219 Bonnett Street SW, North Canton, Ohio 44720

Trustee Part Time

Trustee

0. 0.
0.

0. 0.
0.

0. 0.
0.

Diana-Davis-Belden ---------------------219 Bonnett Street SW, North Canton, Ohio 44720

Part Time

Jame_s_Bactnola _____________ Trustee 11 Concord Circle, Austin, Texas 78737 Part Time ------------------------2

Comnensation of five highest- paid emnlovees (other than those included on line 1 - see inctructinnd _ If nnne _ enter'NONE_'

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

(b) Title and average hours per week devoted to position N/A N/A

(c) Compensation

(d) Contributions to employee benefit plans and deferred compensation 0.

(e) Expense account, other allowances

NONE -----------------------NONE ---------------------------------------------------------------------------------------------Total number of other employees paid over $50,000 BAA

0.

0.

'

None Form 990-PF (2006)

TEEA0306

12/29/06

Form 990-PF 2006 THE OLIVE BRANCH FOUNDATION , INC. 34-1862239 Information About Officers , Directors , Trustees , Foundation Managers, Highly Paid Employees, Part VIII

Pa g e 7

and Contractors Continued

Five highest-paid independent contractors for professional services - (see instructions). If none, enter'NONE. (a) Name and address of each person paid more than $50,000 (b) Type of service NONE ---------------------------------NONE N/A 3 ----------------------------------------------------------------------------------------------------------------------------------------------------Total number of others receiving over $50,000 for professional services None

(c) Com pensation 0.

Part IX-A Summary of Direct Charitable Activities

List the foundation ' s four largest direct charitable activities during the tax year . Include relevant statistical information such as the number of organizations and other beneficiaries served , conferences convened, research papers produced, etc. 1 NONE -----------------------------------------------------------------------------------------------------------Expenses

.
2 ------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------

4 -------------------------------------------------------

Part IX-B Summary of Program - Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation durin g the tax year on lines 1 and 2. 1 NONE -----------------------------------------------------------------------------------------------------------2 ------------------------------------------------------------------------------------------------------------Amount

All other program-related investments See instructions 3 ------------------------------------------------------------------------------------------------------------Total . Add lines 1 through 3 BAA None Form 990-PF (2006)

TEEA0307

12/29/06

Form 990-PF (2006) THE OLIVE BRANCH FOUNDATION ,

INC.

34-1862239

Pa g e 8

Part X
1 a b c d e 2 3 4 5

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,

see instructions.)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc, purposesAverage monthly fair market value of securities .. Average of monthly cash balances Fair market value of all other assets (see instructions) Total (add lines 1 a, b, and c) Reduction claimed for blockage or other factors reported on lines la and lc (attach detailed explanation) I 1e Acquisition indebtedness applicable to line 1 assets Subtract line 2 from line ld Cash deemed held for charitable activities Enter 1-1/2% of line 3 la 1 b 1c 1d 4 , 680 , 643. 496 , 286. 5 , 176 , 929.

2 3

5 , 176 , 929.

(for greater amount, see instructions)

Net value of noncharitable - use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4

4
5 5

77, 654.
0 9 9 , 275.

6 Minimum investment return . Enter 5% of line 5

254 , 964.

Part XI
1

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain forei g n org anizations check here ^ and do not com p lete this art.
1
2a 2b 7 , 848.

Minimum investment return from Part X, line 6

254 , 964.

2a Tax on investment income for 2006 from Part VI, line 5 b Income tax for 2006 (This does not include the tax from Part VI)

c Add lines 2a and 2b

3 4 5 6 7 Distributable amount before adjustments Subtract line 2c from line 1 Recoveries of amounts treated as qualifying distributions Add lines 3 and 4 Deduction from distributable amount (see instructions) Distributable amount as adjusted. Subtract line 6 from line 5 Enter here and on Part XIII. line 1

2c
3 4 5 6 7

7 , 848.
247 116.

247 , 116. 247. 116.

Part XII Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc, purposesa Expenses, contributions, gifts, etc - total from Part I, column (d), line 26 b Program-related investments - total from Part IX-13 2 Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc, purposes 1 Amounts set aside for specific charitable projects that satisfy thea Suitability test (prior IRS approval required) b Cash distribution test (attach the required schedule) 4 Qualifying distributions . Add lines la through 3b. Enter here and on Part V, line 8, and Part XIII, line 4 3 5 6 Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment income. Enter 1 % of Part I, line 27b (see instructions) Adjusted qualifying distributions . Subtract line 5 from line 4 Note : BAA 1a 1b 2 3a 3b 4 5 6 1 , 587 , 660. 0.

1 , 587 , 660. 7 , 848. 1,579,812.

The amount online 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for the section 4940(e) reduction of tax in those years. Form 990-PF (2006)

TEEA0308

01/04/07

Form 990-PF (2006) THE OLIVE BRANCH FOUNDATION,

INC.

34-1862239

Page 9

Part XIII Undistributed Income (see instructions)

Corpus 1 2 Distributable amount for 2006 from Part XI, Years prior to 2005 2005 20 0 6

line 7
Undistributed income, if any, as of the end of 2005 a Enter amount for 2005 only b Total for prior years 20 _ , 20 _ , 20 _ 3 Excess distributions carryover , if any, to 2006 0.

247 116.

a From 2001
bFrom 2002 c From 2003

2 , 350 , 740.
255, 757. 0.

d From 2004

39 , 973.
3 , 661 , 426.

e From 2005 614 956. f Total of lines 3a throug h e 4 Qualifying distributions for 2006 from Part

XII, line 4. 01

1,587,660.

a Applied to 2005, but not more than line 2a b Applied to undistributed income of prior years (Election required - see instructions) c Treated as distributions out of corpus (Election required - see instructions)

d Applied to 2006 distributable amount

e Remaining amount distributed out of corpus 5 Excess distributions carryover applied to 2006 (If an amount appears in column (d), the same amount must be shown in column (a) ) 6 Enter the net total of each column as indicated below: a Corpus. Add lines 3f, 4c, and 4e Subtract line 5 b Prior years' undistributed income Subtract line 4b from line 2b c Enter the amount of prior years' undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed d Subtract line 6c from line 6b Taxable 1 , 340 , 544.

247 , 116.

5 , 001 , 970. 0.

amount - see instructions

e Undistributed income for 2005 Subtract line 4a from line 2a Taxable amount - see instructions f Undistributed income for 2006 Subtract lines 4d and 5 from line 1. This amount must be distributed in 2007 7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170()(1)(E) or 4942(g)(3)

0.
0.

0.

(see instructions)
8 9 10 Excess distributions carryover from 2001 not applied on line 5 or line 7 (see instructions) Excess distributions carryover to 2007. 2 , 350 , 740.

Subtract lines 7 and 8 from line 6a

Analysis of line 9-

2 , 651 , 230.

a Excess b Excess c Excess d Excess e Excess

BAA

from from from from from

2002 2003 2004 2005 2006

255,757. 0. 439 , 973. 614 , 956. 1 , 340,544.

Form 990-PF (2006)
TEEA0309 12/29/06

Form 990-PF (2006) THE OLIVE BRANCH FOUNDATION , INC. Part XIV Private Operating Foundations (see instructions and Part VII -A, question 9)

34-1862239 N/A

Page 10

1 a If the foundation has received a ruling or determination letter that it is a private operating foundation , and the ruling is effective for 2006, enter the date of the ruling n 4942(1)(3) or b Check box to indicate whether the foundation is a private operating foundation described in section Prior 3 years Tax year 2a Enter the lesser of the adjusted net income from Part I or the minimum (c) 2004 2003 (a) 2006 (b) 2005 inves t men t re t urn f rom P ar t X f or each year listed b 85% of line 2a c Qualifying distributions from Part XII, line 4 for each year listed d Amounts included in line 2c not used directly for active conduct of exempt activities e Qualifying distributions made directly for active conduct of exem pt activities. Subtract line 2d from line 2c 3 Complete 3a , b, or c for the alternative test relied upon: a 'Assets' alternative test - enter: (1) Value of all assets (2) Value of assets quali fy ing under section 4942(j ) (3) (B) (i) b 'Endowment' alternative test - enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed c 'Support' alternative test - enter, (1) Total support other than gross

1 49420)(5) (e) Total

investment income ( interest,

dividends , rents , payments on securities loans (section 512(a)(5 )), or royalties) (2) Support from general public and 5 or more exempt organizations as provided in section 4942(ix3XBxni) (3) Largest amount of support from an exempt organization

(4) Gross investment income

Part XV
1

Supplementary Information (Complete this part only if the organization had $5,000 or more in assets at any time durina the year - see instructions.)

Information Regarding Foundation 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) ) Marshall B. Belden, Jr. b 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 a partnership or other entity) of which the foundation has a 10% or greater interest None

Information Regarding Contribution , Grant, Gift, Loan , Scholarship , etc, Programs: Check here 0, F1 if the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds. If the foundation makes gifts, grants, etc, (see instructions) to individuals or organizations 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 addressedMarshall B. Belden, Jr

612 Market Ave. Canton

South OH 44702 (330) 456-7900

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

Written request specifying purpose,

c Any submission deadlines: None

background of organization and amount requested

d Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factorsMust be within the Foundations purpose of improving quality of life and scope of human knowledge in the areas of science, medicine, literature, philosophy, enviromental science or sociology. BAA TEEAO31O 12/29/06 Form 990-PF (2006)

Form 990-PF 2006 THE OLIVE BRANCH FOUNDATION , Part XV Supplementary Information (continued)
3

INC.

34-1862239

Pag e 11

Grants and Contributions Paid During the Year or Approved for Future Payment If recipient is an individual, Recipient show any relationship to Foundation any foundation manager or status of recipient su b stantia l contri b utor Name and address (home or business) a Paid during the year

Purpose of grant or contribution

Amount

See attached statement :3

501 (c) 3 See attached Statement

1,587,660.

Total
b Approved for future payment

3a

1 587 660.

Total BAA TEEa0501 12/29/06

0'

3bl Form 990-PF (2006)

Form 990-PF (2006) Part XVI-A

THE OLIVE BRANCH FOUNDATION,

INC.

34-1862239

Page 12

Analysis of Income- Producing Activities

Unrelated business income (a) Business code (b) Amount Excluded by section 512, 513, or 514 (C) ExcluSion code (d) Amount (e) Related or exempt function income see instructions

Ente gross amounts unless otherwise indicated.

rogram service revenuea b c d e f 9 Fees and contracts from government agencies Membership dues and assessments Interest on savings and temporary cash investments Dividends and interest from securities Net rental income or (loss) from real estate a Debt-financed property b Not debt-financed property 6 Net rental income or (loss) from personal property 7 Other investment income 8 Gain or (loss) from sales of assets other than inventory 9 Net income or (loss) from special events 10 Gross profit or (loss) from sales of inventory 11 Other revenue: a b C d e 12 Subtotal. Add columns (b), (d), and (e) umns Total. Add line 12, columns (b), (d), and (e) (See worksheet in the instructions for line 13 to verify calculations.) 2 3 4 5

14

199 , 168.

18

607 , 420.

806 588. 13

806,588.

Part XVI- B

Relationship of Activities to the Accomplishment of Exempt Purposes

BAA

TEEA0502

12r291o6

Form 990-PF (2006)

Form 990-PF 2006 34-1862239 THE OLIVE BRANCH FOUNDATION INC. Part XVII Information Regarding Transfers To and Transactions and Relationships With Noncharitable

Pa g e 13

Exempt Organizations
1 Did 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? a Transfers from the reporting foundation to a noncharitable exempt organization of: (1) Cash (2) Other assets b Other transactions' (1) Sales of assets to a nonchantable exempt organization (2) Purchases of assets from a noncharitable exempt organization (3) Rental of facilities, equipment , or other assets (4) Reimbursement arrangements (5) Loans or loan guarantees (6) Performance of services or membership or fundraising solicitations c Sharing of facilities, equipment , mailing lists , other assets, or paid employees . .

a 1 a (2) 1b 1b 1b 1b 1b 1b 1C (1 ) (3) (4) (5) (6)

X X X X X X X X X

d If the answer to any of the above is 'Yes ,' complete the followin g schedule. Column (b) should always show the fair mar ket value of the goods, other assets , or services given by the reporting foundation . If the foundation received less than fair market v alue in any transaction or sharin g arrang ement , show in column (d) the value of the g oods , other assets , or services received. (a) Line no. (b) Amount involved (c) Name of noncharltable exempt oraamzation (d) DescriDtlon of transfers . transactions . and sharing arrangements

2a Is the foundation directly or indirectly affiliated with , or related to , one or more tax - exempt organizations Yes described in section 501(c) of the Code (other than section 501 (c)(3)) or in section 527 ? b If 'Yes .' complete the followino schedule. (a) Name of or g anization (b) Typ e of or g anization (c) Descri ption of relationshi p

XQ No

Under penalties of perjury, I declare that I have examined this return, including ac mm a Declaration of preparer (other than taxpayer or f duaary) is based on

S
G N Signature of officer or trustee

N E R E

Prepare r' s Paid signature Pre_ parer's Frm's name (or you rs One Only address, and zip code

I UnUL/ A4_& HALL KISTLER & COMPANY 220 MARKET AVE SOUTH -

LLP SUI

CANTON

BAA

Schedule B (Form 990 ,990-El,

or 990-PF) Department of the Treasury Internal Revenue Service Name of organization

OMB No 1545-OD47

Schedule of Contributors
Supplementary Information for line 1 of Form 990 , 990-EZ and 990- PF (see instructions) 2006
Employer identification number

Organization type (check one): Filers of: Form 990 or 990-EZ

Section: 501(c)( ) (enter number) organization 4947(a)(1) nonexempt charitable trust not treated as a private foundation 527 political organization X 501 (c)(3) exempt private foundation 4947(a)(1) nonexempt charitable trust treated as a private foundation 501 (c)(3) taxable private foundation

Form 990-PF

Check if your organization is covered by the General Rule or a Special Rule (Note : Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule - see instructions.) General Rule For organizations filing Form 990 , 990-EZ, or 990 -PF that received , during the year , $5,000 or more (in money or property) from any one contributor (Complete Parts I and II.)

Special Rules For a section 501(c)(3) organization filing Form 990, or Form 990 - EZ, that met the 33-1/3% support test of the regulations under sections 509(a)(1)/170(b)(1)(A)( vl) and received from any one contributor , during the year , a contribution of the greater of $5,000 or 2% of the amount on line 1 of these forms . (Complete Parts I and II.) For a section 501(c)(7), (8), or (10) organization filing Form 990 , or Form 990-EZ, that received from any one contributor , during the year, aggregate contributions or bequests of more than $1,000 for use exclusively for religious , charitable , scientific , literary, or educational purposes , or the prevention of cruelty to children or animals . (Complete Parts I, II, and III.) For a section 501 (c)(7), (8), or (10) organization filing Form 990 , or Form 990 - EZ, that received from any one contributor, during the year, some contributions for use exclusively for religious , charitable , etc, purposes , but these contributions did not aggregate to more than $1,000. (If this box is checked , enter here the total contributions that were received during the year for an exclusively religious, charitable, etc, purpose . Do not complete any of the Parts unless the General Rule applies to this organization because it received nonexcluslvely I- $ religious , charitable , etc, contributions of $5,000 or more during the year) Caution : Organizations that are not covered by the General Rule and/or the Special Rules do not file Schedule B (Form 990, 990-EZ, or 990-PF) but they must check the box in the heading of their Form 990, Form 990-EZ, or on line 2 of their Form 990-PF, to certify that they do not meet the filing requirements of Schedule B (Form 990, 990-EZ, or 990-PF). BAA For Paperwork Reduction Act Notice, see the Instructions for Form 990 , Form 990- FZ, and Form 990-PF. Schedule B (Form 990, 990-EZ, or 990-PF) (2006)

TEEA0701

01/18/07

Schedule B (Form 990, 990-EZ, or Name of organization

of 1
Employer Identi fication number

of Part

THE OLIVE BRANCH FOUNDATION. Part I (a) Number

INC.

34-1862239

Contributors (See Specific Instructions ) (b) Name, address, and ZIP + 4 (c) Aggregate contributions (d) Type of contribution

Fa y Martin_ Chandler_______________________ 1010 Memorial Drivel Apt_17E________________ $_ ____115L000_ Cambridge _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ -0 2 1 3 8_ _ _ _ _

(c) Aggregate contributions

Person
Payroll

Noncash
(Complete Part II if there

is a noncash contribution.)
(d) Type of contribution

(a) Number

(b) Name , address, and ZIP + 4

Susan A.

Belden__________________________

612 Market_ Ave_South ______________________ $_ _____901000_

Person Payroll Noncash

(Complete Part II if there

Canton OH 44702 -------- ---------------------------(a) Number (b) Name , address, and ZIP + 4 (c) Aggregate contributions

is a noncash contribution.)
(d) Type of contribution

-------- ----------------------------$

Person Payroll Noncash (Complete Part II if there is a noncash contribution )

-------- -----------------------------

(a)
Number

(b)
Name , address , and ZIP + 4

(c)
Aggregate contributions

(d)
Type of contribution

-------- ----------------------------$

Person Payroll Noncash (Complete Part II if there is a noncash contribution ) (c) Aggregate (d) Type of contribution

-------- ----------------------------(a) Number (b) Name , address , and ZIP + 4

contributions
Person Payroll Noncash (Complete Part II if there is a noncash contribution.) (c) Aggregate contributions (d) Type of contribution

-------- ----------------------------$

-------- ----------------------------(a) Number (b) Name , address, and ZIP + 4

-------- ----------------------------$

Person Payroll Noncash (Complete Part II if there is a noncash contribution.)

BAA

TEEA0702

01n8/07

Schedule B (Form 990 , 990-EZ, or 990-PF) (2006)

THE OLIVE BRANCH FOUNDATION, INC Form 990-PF, Page 1, Part I, Line 18 Line 18 Stmt Taxes: (see instructions) Federal Total Rev/Exp Book I 3,500. 3,500.

34- 1862239

Net Inv Inc

Add Net Inc

Charity Disb

Form 990-PF, Page 1, Part I, Line 23

Line 23 Stmt
Other expenses: Foreign Tax paid Ohio Filing Fee Bank Fees Total Rev/Exp Book 1,041. 225. 130. 1,396. Net Inv Inc Adl Net Inc Charity Disb

Form 990-PF, Page 1, Part I, Line 16a L-16a Stmt

Line 16a - Legal Fees:

Name of Provider Geiger Teeple Smith and Hahn Legal Type of Service Provided services

Amount Paid 601. 601.

Total

Form 990-PF, Page 1, Part I, Line 16b

L-16b Stmt Line 16b - Accounting Fees:

Name of Provider
Hall Kistler Total & Company

Type of Service Provided

Income Tax preparation

Amount Paid
1,630. 1,630.

Form 990-PF, Page 1, Part I, Line 16c

L-16c Stmt Line 16c - Other Professional Fees:

Name of Provider

Type of Service Provided

Amount Paid

Stifel, Total

Nicolaus

Investment Advisory Fees

11,926. 11,926.

,THE OLIVE BRANCH FOUNDATION, INC. Form 990-PF, Page 2, Part II, Line 1 Ob L-10b Stmt

34- 1862239

End of Year
Line 1 Ob - Investments - Corporate Stock: Book Value I I Fair Market Value 1,201,975. 1,201,975.

Security Investments - See STMT 1 Total

1,076,465. 1 1, 076, 465.

(34-1862239)

OLIVE BRANCH FOUNDATION

990PF - Part II Line 10a - Detail of Investments
December 31, 2006 Security Name Stifel Account APACHE CORP BANK OF AMERICA CORP BERKSHIRE HATHAWAY INC DEL CL B CANADIAN APARTMENT PPTY* REAL ESTATE INVT TR UNIT CAREER EDUCATION CORP CHAPARRAL STEEL COMPANY DE CHEVRON CORP NEW CONOCOPHILLIPS ECHOSTAR COMMUNICATION CORP NEW CL A EXXON MOBIL CORP FIRST MARBLEHEAD CORP FRANKLIN INCOME FUND CL A GENERAL MILLS INC INTEL CORP INTERSECTIONS INC JOHNSON & JOHNSON LABORATORY CORP AMER HLDGS M D C HOLDINGS INC MEDIA GENERAL INC CL A MICROSOFT CORP NOVO NORDISK AS ADR PENN WEST ENERGY TRUST UNIT PIMCO FLOATING RT STRATGY FUND COM PIMCO FUNDS PACIFIC RAYONIER INC ROCKWELL AUTOMATION INC SEASPAN CORPORATION SEMPRA ENERGY SUNCOR ENERGY INC THIRD AVENUE INTERNATIONAL VALUE THORNBURG MORTGAGE ASSET CORP UNITEDHEALTH GROUP INC WEATHERFORD INTERNATIONAL YRC WORLDWIDE INC Mandala Club partnership Gold Coins Total Investments Shares 50 50 5 100 100 50 50 100 50 50 75 26,278.49 400 200 600 50 50 50 50 50 50 400 500 2,619.84 50 50 100 50 50 2,861.66 100 100 50 100 Total 2,062.00 2,040.75 14,310.00 1,373.60 3,126.00 1,624.75 2,242.00 6,346.00 1,504.50 1,858.50 2,643.00 67,577.68 12,850.00 3,644.00 6,653.00 2,857.00 2,354.50 2,601.88 2,081.99 1,141.95 2,994.00 12,348.00 10,000.00 27,552.16 1,578.33 876.74 2,084.00 2,124.50 1,315.70 62,304.78 2,767.00 3,674.50 1,645.00 4,099.00 600,000.00 200,208.54 1,076,465.35

STMT 1

Page 1 of 8

4/28/2007 10:46 AM

OLIVE BRANCH FOUNDATION (34-1862239)

CAPITAL GAINS & (LOSSES)
January 1, 2005 - December 31, 2005 Security SHORT TERM CONOCOPHILLIPS INDIA FUND INC COM INTERNATIONAL RECTIFIER CORP INTERNATIONAL RECTIFIER CORP INTERNATIONAL RECTIFIER CORP INDIA FUND INC COM INDIA FUND INC COM KOREA FUND INC COM PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRATA PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRAT A US TREASURY BILL DUE 06/22/06 BERKSHIRE HATHAWAY INC CLASS B PIMCO FUNDS PACIFIC ?* INVESTMENT MAI IVY FD GLBL NATURAL A IVY FD GLBL NATURAL A WEATHERFORD INTERNATIONAL CONOCOPHILLIPS SEMPRA ENERGY NOVO NORDISK AS ADR PENN WEST ENERGY TRUST UNIT PIMCO COMMODITYREALRET STRATA PIMCO FUNDS PACIFIC ?` INVESTMENT MAI SEASPAN CORPORATION SEMPRA ENERGY CANADIAN APARTMENT PPTY* REAL ESTATE Shares How Aquired Bought Sold Sales Price Cost Basis Gain/Loss

0.680 125 400 100 200 25 300 500 3,072 88 107 51 7 408 61 71 162 20 6 831 250 10 9,551 810 4 118 365 200 150 200 27 1,412 250 250 500

Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased

4/1/2006 7/22/2005 6/8/2005 6/28/2005 6/28/2005 7/22/2005 7/22/2005 7/22/2005 6/8/2005 6/24/2005 9/23/2005 12/15/2005 12/15/2005 12/30/2005 3/24/2006 6/24/2005 9/23/2005 12/15/2005 12/15/2005 12/30/2005 12/19/2005 6/22/2006 5/24/2006 4/12/2006 6/22/2006 11/8/2005 4/1/2006 8/19/2005 6/22/2006 4/7/2006 6/23/2006 5/24/2006 4/7/2006 8/19/2005 4/7/2006

4/4/2006 5/5/2006 5/17/2006 5/17/2006 5/17/2006 5/22/2006 5/22/2006 5/22/2006 5/24/2006 5/24/2006 5/24/2006 5/24/2006 5/24/2006 5/24/2006 5/24/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/19/2006 7/19/2006 7/19/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006

44.28 7,812.32 18,424.03 4,606.01 9,212.02 1,144.96 13,739.52 17,849.90 38,371.74 1,101.36 1,337.13 636.60 89.72 5,098.03 756.14 994.13 2,263.71 275.11 85.97 11,600.27 250,000.00 29,867.08 100,000.00 24,884.37 113.36 5,597.74 23,862.96 9,091.72 9,255.01 8,031.75 417.91 15,000.00 5,062.37 12,042.13 7,609.76

43.15 4,060.00 19,496.00 5,026.00 10,060.00 812.00 9,750.00 14,695.00 38,491.83 1,104.80 1,341.31 638.60 90.00 5,113.99 758.51 1,015.94 2,313.38 281.15 87.85 11,854.78 250,000.00 30,730.00 100,573.06 25,000.00 107.62 3,882.20 23,162.90 8,498.00 8,982.00 7,338.00 383.31 14,872.88 5,537.50 10,622.50 7,365.00

1.13 3,752.32 (1,071.97) (419.99) (847.98) 332.96 3,989.52 3,154.90 (120.09) (3.44) (4.18) (2.00) (0.28) (15.96) (2.37) (21.81) (49.67) (6.04) (1.88) (254.51) (862.92) (573.06) (115.63) 5.74 1,715.54 700.06 593.72 273.01 693.75 34.60 127.12 (475.13) 1,419.63 244.76

STMT 2

Page 2 of 8

4/28/2007 10:46 AM

OLIVE BRANCH FOUNDATION (34-1862239)

CAPITAL GAINS & (LOSSES)
January 1, 2005 - December 31, 2005 Security CONOCOPHILLIPS ECHOSTAR COMMUNICATION CORP NEW CL IVY FD GLBL NATURAL A IVY FD GLBL NATURAL A CONOCOPHILLIPS FIRST MARBLEHEAD CORP IPSCO INC INTEL CORP INTEL CORP M D C HOLDINGS INC MEDIA GENERAL INC CL A MEDIA GENERAL INC CL A MICROSOFT CORP NIKE INC CLASS B NOVO NORDISK AS ADR PENN WEST ENERGY TRUST UNIT PENN WEST ENERGY TRUST UNIT SEASPAN CORPORATION SEASPAN CORPORATION WEATHERFORD INTERNATIONAL YRC WORLDWIDE INC CANADIAN APARTMENT PPTY* REAL ESTATE CAREER EDUCATION CORP CHAPARRAL STEEL COMPANY DE CHAPARRAL STEEL COMPANY DE CHAPARRAL STEEL COMPANY DE ECHOSTAR COMMUNICATION CORP NEW CL CANADIAN APARTMENT PPTY* REAL ESTATE CANADIAN APARTMENT PPTY* REAL ESTATE CONOCOPHILLIPS ECHOSTAR COMMUNICATION CORP NEW CL ECHOSTAR COMMUNICATION CORP NEW CL FIRST MARBLEHEAD CORP FIRST MARBLEHEAD CORP IPSCO INC IPSCO INC Shares 150 250 483 2,940 100 300 150 100 900 250 200 150 250 200 200 150 250 325 25 150 300 100 300 350 300 100 500 275 125 150 100 100 100 50 100 50 How Aquired Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Bought 4/1/2006 6/22/2006 6/22/2006 6/22/2006 4/1/2006 6/22/2006 12/6/2005 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 4/7/2006 6/22/2006 4/7/2006 6/22/2006 11/8/2005 4/7/2006 4/7/2006 4/7/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 4/7/2006 6/22/2006 4/1/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 12/6/2005 12/6/2005 Sold 7/31/2006 7/31/2006 7/31/2006 9/12/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 Sales Price 10,376.68 8,752.48 15,000.00 86,300.18 6,140.81 19,991.38 13,619.58 2,073.04 18,657.32 12,114.87 7,421.77 5,564.84 7,225.02 18,571.42 15,474.72 4,726.35 7,877.26 7,039.31 541.49 6,407.80 11,825.93 1,645.94 6,453.10 14,573.90 12,491.61 4,164.87 17,679.95 4,519.48 2,054.31 9,124.21 3,577.99 3,588.98 6,666.80 3,333.89 8,968.73 4,479.86 Cost Basis 9,519.00 7,522.50 14,092.07 85,800.31 6,346.00 15,858.00 12,321.00 1,824.00 16,424.10 13,009.40 8,327.98 6,245.99 5,709.75 16,682.00 11,976.00 5,503.50 9,337.50 7,198.75 521.00 4,935.00 11,420.70 1,473.00 12,231.00 11,373.25 9,748.50 3,249.50 15,045.00 4,050.75 1,717.00 9,519.00 3,009.00 3,009.00 5,286.00 2,643.00 8,214.00 4,107.00 Gain/Loss 857.68 1,229.98 907.93 499.87 (205.19) 4,133.38 1,298.58 249.04 2,233.22 (894.53) (906.21) (681.15) 1,515.27 1,889.42 3,498.72 (777.15) (1,460.24) (159.44) 20.49 1,472.80 405.23 172.94 (5,777.90) 3,200.65 2,743.11 915.37 2,634.95 468.73 337.31 (394.79) 568.99 579.98 1,380.80 690.89 754.73 372.86

STMT 2

Page 3 of 8

4/28/2007 10:46 AM

OLIVE BRANCH FOUNDATION (34-1862239)

CAPITAL GAINS & (LOSSES)
January 1, 2005 - December 31, 2005 Security INTEL CORP INTEL CORP INTEL CORP M D C HOLDINGS INC MEDIA GENERAL INC CL A MICROSOFT CORP MICROSOFT CORP NIKE INC CLASS B NIKE INC CLASS B NOVO NORDISK AS ADR NOVO NORDISK AS ADR SEASPAN CORPORATION SEASPAN CORPORATION WEATHERFORD INTERNATIONAL WEATHERFORD INTERNATIONAL YRC WORLDWIDE INC YRC WORLDWIDE INC CANADIAN APARTMENT PPTY* REAL ESTATE CANADIAN APARTMENT PPTY* REAL ESTATE CAREER EDUCATION CORP CHAPARRAL STEEL COMPANY DE CHAPARRAL STEEL COMPANY DE THIRD AVENUE INTERNATIONAL VALUE THIRD AVENUE INTERNATIONAL VALUE THIRD AVENUE INTERNATIONAL VALUE YRC WORLDWIDE INC MEDIA GENERAL INC CL A M D C HOLDINGS INC FRANKLIN INCOME FUND ?* CL A PIMCO FUNDS PACIFIC 7* INVESTMENT MAI TOTAL SHORT-TERM CAPITAL GAINS (LOSSES) LONG TERM SUNCOR ENERGY INC SUNCOR ENERGY INC Shares 100 400 300 100 200 100 100 75 25 50 50 200 100 50 50 25 75 300 100 200 100 100 28 6 778 100 100 100 13,308 1,388 How Aquired Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Bought 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 11/8/2005 11/8/2005 4/7/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 12/23/2005 12/27/2005 4/12/2006 6/22/2006 6/22/2006 6/22/2006 10/4/2006 5/24/2006 Sold 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/8/2006 11/8/2006 11/8/2006 11/8/2006 11/8/2006 11/8/2006 11/8/2006 11/8/2006 Sales Price 2,089.03 8,356.14 6,237.10 4,889.94 7,417.77 2,889.01 2,892.01 6,934.28 2,312.67 3,855.88 3,855.38 4,315.88 2,160.94 2,136.43 2,118.43 983.99 2,951.98 5,006.84 1,662.94 4,351.86 4,135.97 4,165.97 663.25 143.69 18,378.78 3,869.88 3,674.88 4,801.85 35,000.00 15,000.00 1,192, 557.75 Cost Basis 1,824.90 7,288.00 5,466.00 5,203.76 8,327.98 2,283.90 2,283.90 6,255.75 2,085.25 2,994.00 2,994.00 4,168.00 2,084.00 1,645.00 1,645.00 951.73 3,074.25 4,120.80 1,373.60 6,252.00 3,249.50 3,249.50 611.29 132.43 16,938.97 4,099.00 4,163.99 5,203.76 34,201.52 14,611.47 1,148,122.06 Gain/Loss 264.13 1,068.14 771.10 (313.82) (910.21) 605.11 608.11 678.53 227.42 861.88 861.38 147.88 76.94 491.43 473.43 32.26 (122.27) 886.04 289.34 (1,900.14) 886.47 916.47 51.96 11.26 1,439.81 (229.12) (489.11) (401.91) 798.48 388.53 44,435.69

200 100

Purchased Purchased

6/18/2003 6/18/2003

1/25/2006 1/25/2006

14,451.99 7,226.00

3,844.00 1,923.00

10,607.99 5,303.00

STMT 2

Page 4 of 8

4/28/2007 10:46 AM

OLIVE BRANCH FOUNDATION (34-1862239)

CAPITAL GAINS & (LOSSES)
January 1, 2005 - December 31, 2005 Security CHICOS FAS INC CIVITAS BANKGROUP INC BURLINGTON RESOURCES INC TYSON FOODS INC CL A TYSON FOODS INC CL A CIVITAS BANKGROUP INC HANMI FINANCIAL CORP HANMI FINANCIAL CORP HANMI FINANCIAL CORP GANNETT INC GABELLI DIVID & INCOME TR COM GABELLI DIVID & INCOME TR COM MORGAN STAN EASTN EUR FUND INC COM MORGAN STAN EASTN EUR FUND INC COM MORGAN STAN EASTN EUR FUND INC COM TEMPLETON EMERG MKTS INCM FUND COM TEMPLETON DRAGON FUND INC COM TEMPLETON DRAGON FUND INC COM TEMPLETON DRAGON FUND INC COM SALOMON BROTHERS EMERGING MKTS FLT SALOMON BROTHERS EMERGING MKTS FLT Brazil Fund Brazil Fund Brazil Fund PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A PIMCO ALL ASSET A REGIS CORP MINN REGIS CORP MINN PRAXAIR INC PITNEY BOWES INC Shares 350 0.325 1,200 500 500 2,536 50 450 1,100 250 100 1,900 250 125 625 2,000 725 375 900 1,700 300 100 400 500 8,123 11 16 52 17 24 358 34 100 200 400 300 How Aquired Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Bought 1/21/2004 1/21/2004 10/4/2001 1/21/2004 1/21/2004 1/21/2004 1/21/2004 1/21/2004 1/21/2004 1/21/2004 10/6/2004 10/6/2004 6/18/2003 6/18/2003 10/6/2004 11/19/2004 6/18/2003 10/6/2004 10/6/2004 11/19/2004 11/19/2004 6/18/2003 6/18/2003 10/6/2004 1/21/2004 3/19/2004 6/18/2004 9/17/2004 12/14/2004 12/14/2004 12/30/2004 3/28/2005 1/21/2004 1/21/2004 1/21/2004 10/1/2001 Sold 2/3/2006 2/17/2006 4/1/2006 4/7/2006 4/7/2006 4/7/2006 4/7/2006 4/7/2006 4/7/2006 4/7/2006 4/7/2006 4/7/2006 5/5/2006 5/22/2006 5/22/2006 5/22/2006 5/22/2006 5/22/2006 5/22/2006 5/22/2006 5/22/2006 5/22/2006 5/22/2006 5/22/2006 5/24/2006 5/24/2006 5/24/2006 5/24/2006 5/24/2006 5/24/2006 5/24/2006 5/24/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 Sales Price 15,188.80 2.33 110,736.05 6,664.80 6,664.80 18,385.43 909.97 8,225.74 20,030.38 15,232.03 1,866.94 35,471.91 13,192.12 4,648.25 23,241.23 24,338.45 14,889.88 7,701.66 18,483.99 23,922.34 4,221.59 5,787.06 23,148.25 28,935.31 101,462.23 131.23 198.25 650.12 213.33 297.47 4,469.66 428.74 3,472.90 6,947.78 20,639.36 12,374.62 Cost Basis 6,748.00 2.11 20,574.00 6,685.00 6,690.00 16,488.72 521.25 4,691.25 11,467.50 22,225.00 1,840.00 35,074.00 5,412.50 2,706.25 17,993.75 26,580.00 8,018.50 6,037.50 14,517.00 22,797.00 4,020.00 1,503.00 6,028.00 13,545.00 101,779.78 131.64 198.87 652.15 214.00 298.41 4,483.65 430.09 4,017.33 8,034.67 14,948.00 11,160.17 Gain/Loss 8,440.80 0.22 90,162.05 (20.20) (25.20) 1,896.71 388.72 3,534.49 8,562.88 (6,992.97) 26.94 397.91 7,779.62 1,942.00 5,247.48 (2,241.55) 6,871.38 1,664.16 3,966.99 1,125.34 201.59 4,284.06 17,120.25 15,390.31 (317.55) (0.41) (0.62) (2.03) (0.67) (0.94) (13.99) (1.35) (544.43) (1,086.89) 5,691.36 1,214.45

STMT 2

Page 5 of 8

4/28/2007 10:46 AM

OLIVE BRANCH FOUNDATION (34-1862239)

CAPITAL GAINS & (LOSSES)
January 1, 2005 - December 31, 2005 Security PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRAT A PIMCO COMMODITYREALRET STRAT A AMERICAN INTERNATIONAL GROUP INC AMERICAN INTERNATIONAL GROUP INC RAYONIER INC APACHE CORP THORNBURG MORTGAGE ASSET CORP PIMCO FLOATING RT STRATGY FUND COM RAYONIER INC RAYONIER INC EXXON MOBIL CORP GENERAL MILLS INC UNITEDHEALTH GROUP INC UNITEDHEALTH GROUP INC UNITEDHEALTH GROUP INC PEPSICO INC PIMCO FLOATING RT STRATGY FUND COM ROCKWELL AUTOMATION INC PIMCO FLOATING RT STRATGY FUND COM CHICOS FAS INC CHICOS FAS INC OSHKOSH TRUCK CORP NOBLE CORP PIMCO FLOATING RT STRATGY FUND COM PIMCO FLOATING RT STRATGY FUND COM POSCO SPONSORED ADR PRECISION DRILLING TR TR UNIT RAYONIER INC ROCKWELL AUTOMATION INC BANK OF AMERICA CORP Shares 5,426 106 49 51 3 66 127 75 200 300 100 100 200 200 275 125 400 200 550 500 50 100 1,600 200 3,200 350 200 200 100 900 100 100 200 200 200 200 How Aquired Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Bought 1/21/2004 3/19/2004 6/18/2004 9/17/2004 12/4/2004 12/14/2004 12/30/2004 3/28/2005 1/21/2004 10/6/2004 1/9/2004 6/18/2003 4/13/2004 10/29/2004 1/9/2004 1/21/2004 12/19/2000 10/30/1998 1/21/2004 1/21/2004 10/7/2004 8/4/1998 10/29/2004 12/11/2000 10/29/2004 1/21/2004 10/6/2004 1/21/2004 10/6/2004 10/29/2004 10/29/2004 7/11/2005 10/6/2004 1/21/2004 12/11/2000 4/13/2004 Sold 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 6/22/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/14/2006 7/18/2006 7/18/2006 7/19/2006 7/19/2006 7/19/2006 7/19/2006 7/19/2006 7/19/2006 7/19/2006 7/19/2006 7/19/2006 Sales Price 75,744.50 1,484.19 681.14 712.81 38.42 920.24 1,779.02 1,050.03 11,859.63 17,789.45 3,694.88 6,768.79 5,587.82 3,783.88 10,158.18 4,617.36 25,787.20 10,405.68 26,102.20 23,729.27 2,372.93 6,201.80 30,239.23 13,681.57 60,478.14 8,217.75 4,695.85 8,980.32 7,108.78 16,928.48 1,881.94 5,826.42 6,287.82 7,435.77 13,503.58 9,817.69 Cost Basis 77,406.33 1,516.75 696.08 728.45 39.26 940.43 1,818.05 1,073.07 13,910.00 20,565.00 2,736.00 3,164.00 5,534.00 4,000.00 7,524.00 3,345.48 17,387.50 2,459.14 15,660.00 14,347.50 1,690.00 3,814.18 32,000.00 3,507.01 64,000.00 6,748.00 3,455.00 5,177.00 4,599.00 18,000.00 2,000.00 4,510.00 5,015.85 5,352.76 3,507.01 8,163.00 Gain/Loss (1,661.83) (32.56) (14.94) (15.64) (0.84) (20.19) (39.03) (23.04) (2,050.37) (2,775.55) 958.88 3,604.79 53.82 (216.12) 2,634.18 1,271.88 8,399.70 7,946.54 10,442.20 9,381.77 682.93 2,387.62 (1,760.77) 10,174.56 (3,521.86) 1,469.75 1,240.85 3,803.32 2,509.78 (1,071.52) (118.06) 1,316.42 1,271.97 2,083.01 9,996.57 1,654.69

STMT 2

Page 6 of 8

4/28/2007 10:46 AM

OLIVE BRANCH FOUNDATION (34-1862239)

CAPITAL GAINS & (LOSSES)
January 1, 2005 - December 31, 2005 Security APACHE CORP SUNCOR ENERGY INC THORNBURG MORTGAGE ASSET CORP UNITEDHEALTH GROUP INC ZIMMER HOLDINGS INC CHEVRON CORP NEW CHICOS FAS INC EXXON MOBIL CORP GENERAL MILLS INC JOHNSON & JOHNSON LABORATORY CORP AMER HLDGS LIZ CLAIBORNE INC PEPSICO INC DUN & BRADSTREET CORP DL NEW NOBLE CORP OSHKOSH TRUCK CORP PIMCO FLOATING RT STRATGY FUND COM PIMCO FLOATING RT STRATGY FUND COM BANK OF AMERICA CORP POSCO SPONSORED ADR PRECISION DRILLING TR TR UNIT RAYONIER INC RAYONIER INC JOHNSON & JOHNSON THIRD AVENUE INTERNATIONAL VALUE THORNBURG MORTGAGE ASSET CORP UNITEDHEALTH GROUP INC ZIMMER HOLDINGS INC LABORATORY CORP AMER HLDGS CHEVRON CORP NEW CHEVRON CORP NEW EXXON MOBIL CORP ROCKWELL AUTOMATION INC APACHE CORP BERKSHIRE HATHAWAY INC DEL CL B POSCO SPONSORED ADR Shares 100 200 200 200 200 250 250 400 400 100 100 400 200 500 200 400 1 , 800 200 150 200 200 200 50 150 654 200 250 250 150 150 100 250 200 150 10 400 How Aquired Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Bought 6/18/2003 6/18/2003 4/13/2004 10/7/2004 3/19/2002 1/21/2004 10/6/2004 12/19/2000 10/30/1998 1/21/2004 1/21/2004 1/21/2004 4/5/2000 4/12/2002 10/6/2004 1/21/2004 10/29/2004 10/29/2004 4/13/2004 7/11/2005 10/6/2004 1/21/2004 11/19/2004 1/21/2004 6/28/2005 4/13/2004 10/7/2004 3/19/2002 1/21/2004 1/21/2004 4/13/2004 2/1/2001 12/11 /2000 6/18/2003 1/21/2004 7/11/2005 Sold 7/19/2006 7/19/2006 7/19/2006 7/19/2006 7/19/2006 7/19/2006 7/ 19/2006 7/19/2006 7/ 19/2006 7/19/2006 7/19/2006 7/19/2006 7/ 19/2006 7/20/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 7/31/2006 10/4/2006 , Sales Price 6,522.79 15 , 203.55 5,683.82 9 , 975.69 10,967.66 16,376.99 5 , 709.82 25 , 763.20 21 , 047.35 6 , 073.81 6,264.30 13 , 719.57 12 , 675.61 33,413.97 14 , 417.55 17,229.87 34 , 000.95 3 , 777.90 7 , 702.26 12 , 342.22 6,955.80 7, 937.75 1 , 984.44 9,397.21 15 , 000.00 5 , 083.84 11,972.13 15 , 762.01 9 , 661.50 9,898.19 6,598.80 16 , 934.48 12 , 455.61 10,624.17 30 , 569.06 25,284.42 Cost Basis 3,164.00 3,846.00 5,534.00 6,760.00 6 , 895.24 10,596.25 4,318 . 75 17 , 387.50 4 , 918.28 5 , 185.00 4 , 060.00 14,520.00 7,387.50 20,400.00 9 , 198.00 10,354.00 36,000.00 4 , 000.00 6 , 122.25 9 , 020.00 5,015.85 5 , 352.76 1 , 578.33 7,777.50 14,229.60 5 , 534.00 8 , 450.00 8 , 619.05 6,090.00 6,357.75 4 , 484.00 10 , 421.25 3 , 507.01 4,746.00 28 , 740.00 18 , 040.00 Gain/Loss 3 , 358.79 11 , 357.55 149.82 3,215.69 4,072.42 5,780.74 1,391.07 8 , 375.70 16,129.07 888.81 2,204.30 (800.43) 5,288.11 13,013.97 5,219.55 6 , 875.87 ( 1,999.05) ( 222.10) 1,580.01 3 , 322.22 1,939.95 2,584.99 406.11 1 , 619.71 770.40 (450.16) 3,522.13 7,142.96 3,571.50 3,540.44 2 , 114.80 6,513.23 8,948.60 5,878.17 1,829.06 7,244.42

STMT 2

Page 7 of 8

4/28/2007 10:46 AM

OLIVE BRANCH FOUNDATION (34-1862239)

CAPITAL GAINS & (LOSSES)
January 1, 2005 - December 31, 2005 Security EXXON MOBIL CORP EXXON MOBIL CORP INTERSECTIONS INC INTERSECTIONS INC INTERSECTIONS INC INTERSECTIONS INC INTERSECTIONS INC BANK OF AMERICA CORP JOHNSON & JOHNSON JOHNSON & JOHNSON LABORATORY CORP AMER HLDGS LABORATORY CORP AMER HLDGS NOBLE CORP PEPSICO INC PIMCO FLOATING RT STRATGY FUND COM PRECISION DRILLING TR TR UNIT RAYONIER INC ROCKWELL AUTOMATION INC SEMPRA ENERGY SUNCOR ENERGY INC THORNBURG MORTGAGE ASSET CORP UNITEDHEALTH GROUP INC UNITEDHEALTH GROUP INC CHICOS FAS INC CHICOS FAS INC ZIMMER HOLDINGS INC CHEVRON CORP NEW APACHE CORP APACHE CORP FEDEX CORP BERKSHIRE HATHAWAY INC DEL CL B BERKSHIRE HATHAWAY INC DEL CL B EXXON MOBIL CORP EXXON MOBIL CORP FEDEX CORP BANK OF AMERICA CORP Shares 350 150 200 67 133 300 500 100 50 150 100 50 100 200 1,000 600 300 100 350 250 200 50 200 50 100 100 250 50 100 100 10 5 100 100 75 50 How Aquired Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Bought 2/1/2001 10/1/2001 6/8/2005 6/8/2005 6/8/2005 6/8/2005 6/8/2005 4/13/2004 1/21/2004 10/6/2004 1/21/2004 11/19/2004 10/6/2004 4/5/2000 10/29/2004 10/6/2004 11/19/2004 12/11/2000 8/19/2005 1/21/2004 4/13/2004 10/7/2004 10/7/2004 10/6/2004 10/6/2004 3/19/2002 4/13/2004 6/18/2003 1/21/2004 1/21/2004 1/21/2004 10/6/2004 10/1/2001 10/1/2001 1/21/2004 4/13/2004 Sold 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/6/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 Sales Price 25,507.22 10,931.66 2,140.73 717.15 1,423.59 3,211.10 5,351.83 5,418.83 3,412.40 10,237.19 6,758.89 3,379.44 7,224.77 12,623.61 18,849.52 15,095.59 11,729.63 6,124.81 18,199.44 19,751.92 4,899.84 2,430.42 9,721.70 1,047.97 2,095.93 7,486.77 17,424.46 3,282.90 6,565.79 11,419.64 35,789.10 17,894.55 7,241.77 7,245.77 8,619.48 2,719.41 Cost Basis 14,589.75 5,575.50 2,008.00 672.01 1,335.32 3,015.00 5,027.50 4,081.50 2,592.50 8,571.00 4,060.00 2,354.50 4,599.00 7,387.50 20,000.00 15,047.56 9,470.00 1,753.50 14,871.50 6,578.50 5,534.00 1,690.00 7,349.00 863.75 1,727.50 3,447.62 11,210.00 1,582.00 4,124.00 6,928.00 28,740.00 14,310.00 3,717.00 3,717.00 5,196.00 2,040.75 Gain/Loss 10,917.47 5,356.16 132.73 45.14 88.27 196.10 324.33 1,337.33 819.90 1,666.19 2,698.89 1,024.94 2,625.77 5,236.11 (1,150.48) 48.03 2,259.63 4,371.31 3,327.94 13,173.42 (634.16) 740.42 2,372.70 184.22 368.43 4,039.15 6,214.46 1,700.90 2,441.79 4,491.64 7,049.10 3,584.55 3,524.77 3,528.77 3,423.48 678.66

STMT 2

Page 8 of 8

4/28/2007 10:46 AM

OLIVE BRANCH FOUNDATION (34-1862239)

CAPITAL GAINS & (LOSSES)
January 1, 2005 - December 31, 2005 Security FEDEX CORP INTERSECTIONS INC INTERSECTIONS INC INTERSECTIONS INC INTERSECTIONS INC JOHNSON & JOHNSON JOHNSON & JOHNSON BANK OF AMERICA CORP NOBLE CORP PEPSICO INC PIMCO FLOATING RT STRATGY FUND COM RAYONIER INC RAYONIER INC ROCKWELL AUTOMATION INC SEMPRA ENERGY SEMPRA ENERGY SUNCOR ENERGY INC SUNCOR ENERGY INC THORNBURG MORTGAGE ASSET CORP UNITEDHEALTH GROUP INC UNITEDHEALTH GROUP INC ZIMMER HOLDINGS INC CHEVRON CORP NEW CHEVRON CORP NEW APACHE CORP CHICOS FAS INC BERKSHIRE HATHAWAY INC DEL CL B BERKSHIRE HATHAWAY INC DEL CL B THIRD AVENUE INTERNATIONAL VALUE ZIMMER HOLDINGS INC LABORATORY CORP AMER HLDGS TOTAL LONG-TERM CAPITAL GAINS (LOSSES) TOTAL CAPITAL GAINS ( LOSSES) Shares 25 300 100 100 100 50 50 50 100 100 500 100 100 50 100 50 100 100 100 100 100 75 50 100 50 100 5 5 627 75 50 How Aquired Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Bought 1/21/2004 6/8/2005 6/28/2005 6/28/2005 6/28/2005 10/6/2004 10/6/2004 4/13/2004 10/6/2004 4/5/2000 10/29/2004 11/19/2004 11/19/2004 12/11/2000 8/19/2005 8/19/2005 1/21/2004 1/21/2004 4/13/2004 10/7/2004 10/7/2004 3/19/2002 4/13/2004 4/13/2004 1/21/2004 10/6/2004 10/6/2004 10/6/2004 6/28/2005 3/19/2002 11/19/2004 Sold 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/7/2006 11/8/2006 11/8/2006 11/8/2006 Sales Price 2,868.16 3,218.90 1,072.97 1,072.97 1,072.97 3,433.89 3,434.89 2,724.41 7,168.77 6,338.80 9,454.75 3,902.89 3,916.88 3,157.40 5,210.84 2,606.91 7,820.76 7,832.75 2,442.92 4,953.84 4,959.84 5,601.57 3,441.39 6,876.78 3,242.40 2,170.93 17,819.45 17,809.45 14,814.27 5,547.57 3,415.89 2,019,575.07 3,212,132.82 Cost Basis 1,732.00 3,016.50 1,103.00 1,106.00 1,106.00 2,857.00 2,857.00 2,040.75 4,599.00 3,693.75 10,000.00 3,156.67 3,156.67 876.75 4,249.00 2,124.50 2,631.40 2,631.40 2,767.00 3,674.50 3,674.50 2,585.72 2,242.00 4,484.00 2,062.00 1,727.50 14,310.00 14,310.00 13,653.71 2,585.72 2,354.50 1,468,416.11 2, 616,538 .17 Gain/Loss 1,136.16 202.40 (30.03) (33.03) (33.03) 576.89 577.89 683.66 2,569.77 2,645.05 (545.25) 746.22 760.21 2,280.65 961.84 482.41 5,189.36 5,201.35 (324.08) 1,279.34 1,285.34 3,015.85 1,199.39 2,392.78 1,180.40 443.43 3,509.45 3,499.45 1,160.56 2,961.85 1,061.39 551,158.96 595, 594.65

STMT 2

OLIVE BRANCH FOUNDATION (34-1862239) GRANTS PAID

JANUARY 1, 2006 - DECEMBER 31, 2006

Date

Recipient Name and Address

Relationship to Substantial Contributor and Foundation Status of Recipient None Section 501 (c) ( 3 )

Purpose of Grant or Contribution Raising Public Awareness on Health Issues

Amount 50,000

3/6/2006 Institute of Science and Technology 1000 N. 4th Street Fairfield, Iowa 82557 3/7/2006 Canton Student Loan 4974 Higbee Avenue NW Canton, Ohio 44718 4/13/2006 Wildlife Habitat Conservance Inc 3500 26th St NW Canton, Ohio 44708 5/24/2006 Justice Through Music Program P.O. Box 9576 Washington, DC 20016 6/19/2006 Wildlife Habitat Conservance Inc 3500 26th St NW Canton, Ohio 44708 6/28/2006 J. Babe Steam Community Center 2628 13th Street NW Canton, Ohio 44708 6/29/2006 Institute of Science and Technology 1000 N. 4th Street
Fairfield, Iowa 82557

None Section 501 (c) ( 3 )

Contribution to Student Loan Fund

750

None Section 501 (c) ( 3)

Educate the public on value of green space and promote environmental education

5,000

None Section 501 (c) ( 3 )

Raising awareness of youth through music

5,000

None Section 501 (c) ( 3)

Educate the public on value of green space and promote environmental education

5,000

None Section 501 (c) ( 3)

To provied social,educaltional,and recreational activities for disadvantaged families

10,000

None Section 501 (c) ( 3 )

Raising Public Awareness on Health Issues

50,000

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7/24/2006 Canton Preservation Society 116 Cleveland Ave N.W. Suite 300 Canton, Ohio 44702 8/8/2006 Justice Through Music Program P.O. Box 9576 Washington, DC 20016 8/9/2006 American University in Cairo 113 Kasr El Aini St., P.O. Box 2511 Cairo, 11511, Egypt 8/31/2006 Maharishi Vedic Foundation P.O. Box 1839 Hillsboro, New Hampshire 03244 9/7/2006 Greater Cleveland World Peace Conference 8928 Ashford Castle Dr Indianapolis, IN 46250 9/20/2006 Institute of Science and Technology 1000 N. 4th Street Fairfield, Iowa 82557 10/30/2006 Trinidad and Tobago Peace Association Fund RBTT Bank, 70 Western Main Rd ST. James, Trinidad 11/10/2006 Maharishi Global Development Fund 225 Wisperinghills Road, Suite 400 Boone, North Carolina 28607 11/13/2006 Maharishi School of the Age of Enlinghtment 804 N. 3rd Street Fairfield, Iowa 52556

None Section 501 (c) ( 3 )

Contribution to Historic Preservation Project

2,500

None Section 501 (c) ( 3 )

Raising awareness of youth through music

10,000

None Section 501 (c) ( 3 )

Contribution to Education

6,910

None Section 501 (c) ( 3 )

Raising Public Awareness on Health Issues

180,000

None Section 501 (c) ( 3 )

Raising Public Awareness on Peace Matters

2,000

None Section 501 (c) ( 3 )

Raising Public Awareness on Health Issues

10,000

None Section 501 (c) ( 3 )

Raising Public Awareness on Peace Matters

50,000

None Section 501 (c) ( 3)

To inspire the creation of healthy housing, create world peace and establish Vedic centers throughout the world. Education Fundraiser

1,200,000

None Section 501 (c) ( 3 )

500

Total Contributions Paid in 2006

1,587,660

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