form11-k.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 11-K


þ
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2010
 
OR
 
□
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITES EXCHANGE ACT OF 1934
For the transition period from                                                                to                       .


Commission File Number:  1-9065


ECOLOGY AND ENVIRONMENT, INC. 401(K) PLAN
(Full title of the plan)

ECOLOGY AND ENVIRONMENT, INC.
(Name of issuer of the securities held pursuant to the Plan)

368 Pleasant View Drive, Lancaster, New York 14086
(Address of principal executive office)




REQUIRED INFORMATION


Item 1.
  
Not applicable.
    
         
Item 2.
  
Not applicable
    
         
Item 3.
  
Not applicable
    
         
Item 4.
  
Financial Statements of the Plan
    
         
   
The Financial Statements of the Ecology and Environment, Inc. 401(k) Plan (the Plan) for the fiscal years ended December 31, 2010 and 2009, together with the report of Schneider Downs & Co., Inc., Independent Registered Public Accounting Firm, is included in this Annual Report on Form 11-K, and are by specific reference incorporated herein and filed as a part hereof.  The Financial Statements and the Notes thereto are presented in lieu of the financial statements required by Items 1, 2 and 3 of Form 11-K.  The Plan is subject to the requirements of the Employee Retirement Income Security Act of 1974 (ERISA).
 
   
Exhibits:
        
   
Exhibit Number
  
Description of Exhibit
             
   
23.1
  
Consent of Schneider Downs & Co., Inc., Independent Registered Public Accounting Firm



Ecology and Environment, Inc.
401(k) Plan
Index to Financial Statements and Supplemental Schedule
for the Years Ended December 31, 2010 and 2009


Table of Contents

 
Page
 
 
Report of Independent Registered Public Accounting Firm
1
   
Financial Statements:
  
   
Statements of Net Assets Available for Benefits
2
   
Statements of Changes in Net Assets Available for Benefits
3
   
Notes to Financial Statements
4 – 12
   
Supplemental Schedule:
  
   
Schedule H, line 4i - Schedule of Assets Held at End of Year
13 – 15




 
 
 


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Participants and Administrator of
Ecology and Environment, Inc. 401(k) Plan
Lancaster, New York

We have audited the accompanying statements of net assets available for benefits of Ecology and Environment, Inc. 401(k) Plan (Plan) as of December 31, 2010 and 2009, and the related statements of changes in net assets available for benefits for the years then ended.  These financial statements are the responsibility of the Plan’s management.  Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting.  Accordingly, we express no such opinion.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of Ecology and Environment, Inc. 401(k) Plan as of December 31, 2010 and 2009, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole.  The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2010 is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.  Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements.  The information has been subjected to the auditing procedures applied in the audits of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other procedures in accordance with auditing standards generally accepted in the United States of America.  In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole.


/s/ Schneider Downs & Co., Inc.


Pittsburgh, Pennsylvania
June 28, 2011

 
 

 
- 1 -
 

 
Ecology and Environment, Inc.
401(k) Plan
Statements of Net Assets Available for Benefits
December 31,



   
2010
    
2009
  
             
Assets
            
             
Investments, at fair value (see Note 6)
   $ 29,378,146     $ 25,973,296  
Notes receivable from participants
     319,710       186,034  
                 
Total assets
     29,697,856       26,159,330  
                 
Liabilities
                
                 
Excess contributions
     54,877       26,975  
                 
Total liabilities
     54,877       26,975  
                 
Net assets available for benefits at fair value
     29,642,979       26,132,355  
                 
Adjustment from fair value to contract value for interest in collective trust
relating to fully benefit-responsive investment contracts
     74,238       195,329  
                 
Net assets available for benefits
   $ 29,717,217     $ 26,327,684  


See accompanying notes to the financial statements.


 

 
- 2 -
 

Ecology and Environment, Inc.
401(k) Plan
Statements of Changes in Net Assets Available for Benefits
Years Ended December 31,

 
   
2010
    
2009
  
             
             
Additions to net assets attributed to:
            
Interest
   $ 12,918     $ 14,547  
Dividends
     542,798       384,593  
Net appreciation in fair value of investments (see Note 7)
     2,487,810       4,464,920  
      3,043,526       4,864,060  
                 
Contributions:
                
Participant
     2,495,508       2,565,365  
Rollovers
     205,115       3,550  
      2,700,623       2,568,915  
                 
Total additions
     5,744,149       7,432,975  
                 
 
                
Deductions from net assets attributed to:
                
Benefits paid to participants
     2,345,501       808,248  
Administrative expenses
     9,115       12,479  
Total deductions
     2,354,616       820,727  
                 
Net increase
     3,389,533       6,612,248  
                 
Net assets available for benefits:
                
Beginning of year
     26,327,684       19,715,436  
                 
End of year
   $ 29,717,217     $ 26,327,684  


See accompanying notes to the financial statements.

 

 
- 3 -
 

Ecology and Environment, Inc.
401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

 
1.
Description of Plan

The following description of the Ecology & Environment, Inc. 401(k) Plan (the Plan) is provided for general information purposes only.  Participants should refer to the Plan document for a more comprehensive description of the Plan’s provisions.

General
The Plan was established January 1, 1994 as a defined-contribution plan to cover all eligible employees of Ecology and Environment, Inc. (the Company).  Beginning August 1, 2002 the hours of service requirement was eliminated and employees age twenty-one or older are immediately eligible to participate in the plan during the month following their date of hire.  The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).

Contributions
Participants may elect to make voluntary contributions subject only to the limitations of the Internal Revenue Code (IRC).  The elective deferral percentage may be modified the first day of any month.  Upon enrollment in the Plan, a participant may direct, in at least 10 percent increments in each option selected, his or her contributions in any combination of the various investment options and a self directed brokerage account.  The Plan allows Roth 401(k) contributions from participants.  Participants who were 50 years of age or older during the plan year are allowed to contribute catch up contributions.

Participant accounts
Each participant’s account is credited with the participant’s contribution and the Plan earnings, and charged with an allocation of administrative expenses.  Allocations are based on participant account balances, as defined in the Plan document.  The benefit to which a participant is entitled is the participant’s vested account balance.

Vesting
Participants are immediately vested in their contributions plus actual earnings thereon.  There is no partial vesting. There are no company matching or discretionary contributions.

Notes Receivable from Participants
Participants may borrow from their account a minimum of $1,000 with a maximum equal to the lesser of $50,000 or 50% of their vested account balance.  Loan terms range from one to five years or a reasonable period of time determined when the loan is made for the purchase of a primary residence.  The loans are collateralized by the balance in the participant’s account and bear interest at rates that range from 4.25 percent to 9.5 percent, which are commensurate with local prevailing rates as determined by the Plan Administrator.  Principal and interest are paid ratably through bi-weekly payroll deductions.

Payment of benefits
On termination of service due to death, disability, or retirement, a participant or beneficiary may elect to receive either a lump-sum amount equal to the value of the participant’s vested interest in his or her account, or monthly, quarterly, semi-annual or annual installments over a period not to exceed the life of the participant or the life of a designated beneficiary.  Participants are charged a one time distribution fee at the time when a participant requests a distribution from the plan.


 
 
- 4 -
 
 
Ecology and Environment, Inc.
401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 

1.
Description of Plan (continued)

Administration
The Plan is administered by the Company.  The Company has selected The Hartford to be the Recordkeeper of the Plan and Reliance Trust Company as the Trustee.

Administrative expenses are paid by the participants.

2.
Summary of Accounting Policies

Basis of Accounting
The financial statements of the Plan are prepared under the accrual method of accounting.

Investments and Related Transactions
Investments are reported at fair value.  Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transfer between market participants at the measurement date.  See Note 6 for Fair Value Measurements. The Plan’s assets include an investment in the common stock of Ecology and Environment, Inc. through a unitized stock fund, which includes a money market fund for liquidity purposes, and through the brokerage access account.

The Plan’s net appreciation in fair value of investments includes both realized gains and losses and unrealized appreciation/(depreciation).  Interest and dividend income is recognized as earned.  Investment transactions are accounted for on a trade date basis.

Investment contracts held by a defined-contribution plan are required to be reported at fair value.  However, contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined-contribution plan attributable to fully benefit responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan.  The Plan invests in investment contracts through a collective trust.  The Statement of Net Assets Available for Benefits presents the fair value of the investment in the collective trust as well as the adjustment of the investment in the collective trust from fair value to contract value relating to the investment contracts.  The Statements of Changes in Net Assets Available for Benefits is prepared on a contract value basis.

Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid principal balances plus any accrued but unpaid interest.  Delinquent participant loans are reclassified as distributions based upon the terms of the plan document.

Payment of Benefits
Benefits are recorded when paid.

 
 

 
- 5 -
 
 
Ecology and Environment, Inc.
401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 
 
2.       Summary of Accounting Policies (continued)

Use of Estimates
The preparation of the Plan’s financial statements in conformity with generally accepted accounting principles generally accepted in the United States of America requires the Plan Administrator to make estimates and assumptions that affect the reported amounts of net assets and disclosures of contingent net assets at the date of the financial statements and the reported amounts of changes in net assets during the reporting period.  Actual results could differ from those estimates.

Reclassifications
Certain elements of the financial statements for the year ended December 31, 2009 have been reclassified to conform with the 2010 presentation.

Subsequent Events
These financial statements have not been updated for subsequent events occurring after the date these financial statements were issued.


3.
Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue at any time and to terminate the Plan subject to the provisions of ERISA.  In the event of Plan termination, participants will become 100 percent vested in their accounts.


4.
Tax Status

The Plan is based upon a prototype plan designed by the Hartford Retirement Services, Inc. that received a favorable determination letter dated March 31, 2008.  Although the Plan has been amended since receiving the determination letter, the Plan administrator and the Plan’s tax counsel believe that the Plan is designed and is currently being operated in compliance with applicable requirements of the Internal Revenue Code.

Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The plan administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2010, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however there are currently no audits for any tax periods in progress.  The plan administrator believes that it is no longer subject to income tax examinations for the years prior to 2007.


 

 
- 6 -
 
 
Ecology and Environment, Inc.
401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

 
5.
Risks and Uncertainties

The Plan invests in various investment securities.  Investment securities are exposed to various risks such as interest rate, market, and credit risks.  Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes  could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits.

6.
Fair Value Measurements

Fair Value - Accounting principles generally accepted in the United States of America, requires disclosure that establishes a framework for measuring fair value and expands disclosure about fair value measurements.  This enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values.  Assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:

Level 1:                   Quoted market prices in active markets for identical assets or liabilities.
 
Level 2:
Observable market based inputs or unobservable inputs that are corroborated by market data.
Level 3:                   Unobservable inputs that are not corroborated by market data.

If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

Following is a description of the valuation methodologies used for assets measured at fair value.  There have been no changes in the methodologies used at December 31, 2010 and 2009.

Common stocks: Stated at fair value as measured by quoted market prices in an active   market on which the individual securities are traded.

   Mutual funds: Valued at the net asset value of shares held by the plan at year end.

Unit investment trusts: Valued at fair value as provided by a pricing evaluation organization.

Unitized stock fund: Valued at the closing price reported on the active market on which the individual securities are traded.  A small portion of the fund is invested in short-term money market instruments.

Common collective trust fund: Valued at fair value based on information reported by the investment advisor using audited financial information of the collective trust.

 
 

 
- 7 -
 

Ecology and Environment, Inc.
401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

 
6.
Fair Value Measurements (continued)

 
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2010 and 2009:

 
 
 
 
At December 31, 2010
  
Quoted
Prices in
Active
Market
Level I
    
Significant
Other
Observable
Inputs
Level II
    
Significant
Unobservable
Inputs
Level III
    
 
 
 
Total
  
                         
Investments:
                        
Mutual funds:
                        
Blend funds
   $ 7,453,205     $ -     $ -     $ 7,453,205  
Growth funds
     7,366,027       -       -       7,366,027  
Value funds
     4,384,215       -       -       4,384,215  
Bond funds
     2,289,199       -       -       2,289,199  
Allocation funds
     1,858,385       -       -       1,858,385  
Target date funds
     887,242       -       -       887,242  
                                 
Total mutual funds
   $ 24,238,273     $ -     $ -     $ 24,238,273  
                                 
Brokerage access account:
                                
Cash and cash equivalents
     28,509       -       -       28,509  
Common Stock
                                
Services
     377,222       -       -       377,222  
Basic materials
     125,281       -       -       125,281  
Industrials
     67,551       -       -       67,551  
Utilities
     43,671       -       -       43,671  
Conglomerates
     27,801       -       -       27,801  
Other
     26,678                       26,678  
Technology
     25,151       -       -       25,151  
Mutual funds
                                
Target date funds
     105,194       -       -       105,194  
Other
     58,780       -       -       58,780  
Allocation fund
     37,496       -       -       37,496  
World stock funds
     35,101       -       -       35,101  
Growth funds
     31,420       -       -       31,420  
Bond funds
     13,032       -       -       13,032  
Value fund
     6,628       -       -       6,628  
Unit Investment Trusts
     42,507       -       -       42,507  
Total brokerage access
                                
account
   $ 1,052,022       -       -     $ 1,052,022  
                                 
Unitized stock fund
     1,018,570       -       -       1,018,570  
Common collective trust fund
     -       3,069,281       -       3,069,281  
                                 
Total assets at fair value
   $ 26,308,865     $ 3,069,281     $ -     $ 29,378,146  


 

 
- 8 -
 

Ecology and Environment, Inc.
401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 
 
6.       Fair Value Measurements (continued)


 
 
 
 
At December 31, 2009
  
Quoted
Prices in
Active
Market
Level
    
Significant
Other
Observable
Inputs
Level II
    
Significant
Unobservable
Inputs
Level III
    
 
 
 
Total
  
                         
Investments:
                        
Mutual funds
                        
Growth funds
   $ 6,554,414     $ -     $ -     $ 6,554,414  
Blend funds
     6,397,240       -       -       6,397,240  
Value funds
     3,832,580       -       -       3,832,580  
Bond funds
     1,483,591       -       -       1,483,591  
Allocation funds
     1,483,591       -       -       1,483,591  
Target date funds
     385,028       -       -       385,028  
                                 
Total mutual funds
   $ 20,485,254     $ -     $ -     $ 20,485,254  
                                 
Brokerage access account:
                                
Cash and cash equivalents
     73,875       -       -       73,875  
Common stock
                                
Services
     347,004       -       -       347,004  
Basic materials
     93,389       -       -       93,389  
Industrials
     53,076       -       -       53,076  
Utilities
     37,466       -       -       37,466  
Conglomerates
     22,998       -       -       22,998  
Technology
     22,729       -       -       22,729  
Other
     8,894       -       -       8,894  
Mutual funds
                                
Target date funds
     87,263       -       -       87,263  
Growth funds
     31,329       -       -       31,329  
Bond funds
     23,837       -       -       23,837  
World stock funds
     22,283       -       -       22,283  
Other
     18,821       -       -       18,821  
Allocation fund
     15,841       -       -       15,841  
Value fund
     14,365       -       -       14,365  
Unit investment trusts
     33,957       -       -       33,957  
Total brokerage access account
     907,127       -       -       907,127  
                                 
Unitized stock fund
     899,755       -       -       899,755  
Common collective trust fund
     -       3,681,160       -       3,681,160  
                                 
Total investments at fair value
   $ 22,292,136     $ 3,681,160      $ -     $ 25,973,296  



 

 
- 9 -
 

Ecology and Environment, Inc.
401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009



7.
Investments

 
The following presents investments that represent five percent or more of the Plan's net assets at December 31,

   
2010
    
2009
  
             
Columbia Acorn Fund – A, 144,815 and 32,650 shares, respectively
   $ 4,234,383     $ *  
DWS Equity 500 Index Fund S, 28,611 and 29,440 shares, respectively
   $ 4,038,432     $ 3,684,151  
MFS Value Fund A, 170,106 and 176,489 shares, respectively
   $ 3,880,118     $ 3,665,675  
SEI Trust Company Fixed Fund Institutional, 3,143,519 and 3,876,489 shares, respectively
   $ 3,069,281     $ 3,681,160  
PIMCO Total Return Fund A, 198,062 and 167,261 shares, respectively
   $ 2,148,977     $ 1,806,417  
Fidelity Low Priced Stock Fund, 46,716 and 42,855 shares, respectively
   $ 1,792,943     $ 1,368,791  
Franklin Growth Fund A, 35,955 and 0 shares, respectively
   $ 1,605,021       *  
Thornburg Core Growth Fund A, 0 and 214,694 shares, respectively
     *     $ 3,046,507  
MFS Core Growth Fund A, 0 and 106,516 shares, respectively
     *     $ 1,658,453  

 
* Investment balance did not meet the 5% threshold at the respective year end.


 
The Plan’s investments for the years ended December 31, 2010 and 2009 (including gains and losses on investments bought and sold, as well as held during the year) appreciated (depreciated) in value as follows:

   
2010
    
2009
  
             
Mutual funds
   $ 2,411,338     $ 4,080,778  
                 
Self Directed Brokerage access account:
                
Common stock
     25,440       162,839  
Mutual fund
     40,503       56,567  
Unit investment trust
     (489 )     3,892  
                 
Total brokerage access account
     65,454       223,298  
                 
Unitized stock fund
     11,048       160,845  
                 
Stable value fund
     (30 )     (1 )
                 
    $ 2,487,810     $ 4,464,920  

 

 
 
- 10 -
 

Ecology and Environment, Inc.
401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009



8.
Transactions with Parties-in-Interest

 
As of December 31, 2010 and 2009, the Plan held Certain Securities issued by the Company as follows:

   
December 31, 2010
    
December 31, 2009
  
   
Number of Shares
    
Fair
Value
    
Number of
 Shares
    
Fair
Value
  
                         
Unitized Stock Fund
                        
Ecology and Environment, Inc. Common Stock
                        
Common Stock
     55,440     $ 831,600       50,493     $ 757,319  
                                 
Brokerage Access Account
                                
Ecology and Environment, Inc.
                                
Common Stock
     10,765     $ 161,475       8,965     $ 134,462  


 
Dividends on Ecology and Environment, Inc. Common Stock amounted to approximately $23,839 and $20,479 during the years ended December 31, 2010 and 2009, respectively.

 
Certain plan investments are shares of mutual funds and a collective investment trust made available through the Hartford Retirement Services, LLC (“HRS”) recordkeeping platform.  HRS is the recordkeeper for the Plan.  Reliance Trust Company (“RTC”) is the trustee and custodian of plan investments that include mutual funds, the collective investment trust and the Company stock.
 
 

 

 
- 11 -
 

Ecology and Environment, Inc.
401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

 
9.      Reconciliation of Financial Statements to Form 5500

The following is a reconciliation of net assets available for plan benefits per the financial statements to the Form 5500.

   
2010
    
2009
  
             
Net assets available for benefits per the financial statements
   $ 29,717,217     $ 26,327,684  
                 
Adjustment from contract value to fair value for fully benefit responsive investment contracts
     (74,238 )     (195,329 )
                 
Net assets available for benefits per the Form 5500
   $ 29,642,979     $ 26,132,355  
                 
                 
                 
Net increase (decrease) in net assets per the financial statements
   $ 3,389,533     $ 6,612,248  
                 
Adjustment from contract value to fair value for fully benefit responsive investment contracts
     121,091       76,585  
                 
Net increase (decrease) in net assets per the Form 5500
   $ 3,510,624     $ 6,688,833  

 
 

 
- 12 -
 

Ecology and Environment, Inc.
401(k) Plan
EIN:  16-0971022
PLAN NUMBER:  003
Schedule H - line 4i - Schedule of Assets Held at End of Year

 
 
(a) Shares
  
(b)   Identity of Issue Borrower, Lessor or Similar Party
  
(c)   Description of Investment including Maturity Date, Rate of Interest, Collateral, Par, or Maturity Value
  
(d) Cost
  
(e) Current Value
                   
 
Mutual Funds:
            
                   
 
144,815
  
Columbia
  
Acorn Fund A
  
**
  
 $               4,234,383
 
28,611
  
DWS
  
Equity 500 Index Funds
  
**
  
             4,038,432
 
170,106
  
MFS
  
Value Fund A
  
**
  
             3,880,118
 
198,062
  
PIMCO
  
Total Return Fund A
  
**
  
             2,148,977
 
46,716
  
Fidelity
  
Low Priced Stock Fund
  
**
  
             1,792,943
 
35,955
  
Franklin
  
Franklin Growth Fund A
  
**
  
             1,605,021
 
23,118
  
Harbor
  
Harbor International Fund Inv
  
**
  
             1,387,052
 
59,372
  
MFS
  
Aggressive Growth Allocation Fund A
  
**
  
                846,649
 
48,067
  
MFS
  
Total Return Fund A
      
                677,748
 
45,772
  
MFS
  
Growth Allocation Fund A
  
**
  
                637,151
 
10,573
  
Janus Adviser
  
Janus Overseas A
  
**
  
                534,794
 
34,458
  
MFS
  
Moderate Allocation Fund A
  
**
  
                462,432
 
18,164
  
T. Rowe Price
  
Retirement 2030 Fund
  
**
  
                312,066
 
11,436
  
Janus Adviser
  
Perkins Mid Cap Value Fund A
  
**
  
                257,991
 
16,618
  
T. Rowe Price
  
Retirement 2010 Fund
  
**
  
                253,929
 
8,187
  
Victory
  
Small Company Opportunity Fund A
  
**
  
                246,106
 
13,454
  
Neuberger Berman
  
Socially Responsible Fund
  
**
  
                234,778
 
10,420
  
T. Rowe Price
  
Retirement 2040 Fund
  
**
  
                180,363
 
9,108
  
Eaton Vance
  
Special Equities Fund A
  
**
  
                145,180
 
11,913
  
American Century
  
Inflation Adj Bond Adv
  
**
  
                140,222
 
7,162
  
T. Rowe Price
  
Retirement 2020 Fund
  
**
  
                117,092
 
6,428
  
MFS
  
Conservative Allocation Fund A
  
**
  
                  81,054
 
2,450
  
T. Rowe Price
  
Retirement 2050 Fund
  
**
  
                  23,792
         
Total Mutual Funds
  
**
  
           24,238,273
                   
             
   Common Collective Trust Fund:
            
 
3,143,519
  
SEI Trust Company
  
Fixed Fund Institutional
  
**
  
3,069,281
                   
   Unitized Stock Fund:
            
*
55,440
  
Unitized Stock Fund
  
Ecology and Environment, Inc.
  
**
  
831,600
 
185,013
  
Unitized Stock Fund
  
MFS Money Market Fund
  
**
  
186,970
         
Total Unitized Stock Fund
      
1,018,570
                   
                   
 
Brokerage Access Account:
            
                   
 
Cash and Cash Equivalents
            
 
28,500
  
-
  
Schwab Money Market Fund
  
**
  
28,500
 
-
  
-
  
Cash
  
**
  
9
                 
28,509
               
 
Common Stock
            
 
24,450
  
-
  
Tivo Inc
  
**
  
                211,004
*
10,765
  
-
  
Ecology and Environment, Inc.
  
**
  
                161,475
 
600
  
-
  
Freeport-Mcmoran Copper & Gold, Inc
  
**
  
                  72,054
 
1,000
  
-
  
Enpro Industries Inc
  
**
  
                  41,560
 
500
  
-
  
Contango Oil & Gas
  
**
  
                  28,965
 
1,520
  
-
  
General Electric Company
  
**
  
                  27,801
 
500
  
-
  
Pentair Inc
  
**
  
                  18,255
 
1,000
  
-
  
Duke Energy Corp
  
**
  
                  17,810
 
666
  
-
  
Aqua America Inc
  
**
  
                  14,972
 
662
  
-
  
Ford Motor Company
  
**
  
                  11,115
 
1,250
  
-
  
Suntech Power Holdings Co
  
**
  
                  10,013
 
500
  
-
  
Corning Inc
  
**
  
                    9,660
 
200
  
-
  
Transcanada Corp
  
**
  
                    7,608
 
1,000
  
-
  
North American Palladium Ltd
  
**
  
                    6,940
 
1,000
  
-
  
Citgroup Inc
  
**
  
                    4,730
 
1,000
  
-
  
Hercules Offshore Inc
  
**
  
                    3,480
 
50
  
-
  
National Fuel Gas Co
  
**
  
                    3,281
 
1,000
  
-
  
Great Basin Gold Ltd
  
**
  
                    2,960
 
10,900
  
-
  
Vasomedical Inc
  
**
  
                    2,562
 
200
  
-
  
Masco Corp
  
**
  
                    2,532
 
26
  
-
  
Union Pacific Corp
  
**
  
                    2,410
 
150
  
-
  
Optionsxpress Holdings
  
**
  
                    2,351
 
25
  
-
  
Bucyrus International Inc New
  
**
  
                    2,241
 
250
  
-
  
Renesola Ltd Adr
  
**
  
                    2,185
 
26
  
-
  
FMC Corporation
  
**
  
                    2,042
 
150
  
-
  
Dell Inc
  
**
  
                    2,033
 
50
  
-
  
Vale S. A.
  
**
  
                    1,729
 
456
  
-
  
Hydrogenics Corp
  
**
  
                    1,715
 
20
  
-
  
Lauder Estee Cos Inc
  
**
  
                    1,594
 
1,000
  
-
  
Joes Jeans Inc
  
**
  
                    1,555
 
20
  
-
  
Mosaic Company
  
**
  
                    1,543
 
20
  
-
  
Anadarko Petroleum Corp
  
**
  
                    1,538
 
9
  
-
  
Goldman Sachs Group Inc
  
**
  
                    1,533
 
20
  
-
  
Monsanto Co New Del
  
**
  
                    1,422
 
21
  
-
  
CSX Corp
  
**
  
                    1,362
 
50
  
-
  
James River Coal Co
  
**
  
                    1,267
 
300
  
-
  
Realnetworks Inc
  
**
  
                    1,260
 
16
  
-
  
Ishares MSCI Brazil Index
  
**
  
                    1,238
 
10
  
-
  
Cummins Engine Inc
  
**
  
                    1,100
 
150
  
-
  
Cal Dive International
  
**
  
                       851
 
7
  
-
  
Hess Corporation
  
**
  
                       544
 
50
  
-
  
Contango Ore Inc
  
**
  
                       525
 
100
  
-
  
Ivanhoe Energy Inc
      
                       272
 
400
  
-
  
Plug Power Inc
      
                       148
 
5,000
  
-
  
Premiere Publishing GP
      
                       120
                 
                693,355
                   
                   
 
Mutual Funds
            
 
4,680
  
-
  
Vanguard Target Retirement 2025 Fund
  
**
  
                  59,060
 
3,832
  
-
  
T Rowe Price Retirement 2025 Fund
  
**
  
                  46,134
 
694
  
-
  
CGM Focus Fund
  
**
  
                  24,152
 
1,124
  
-
  
T Rowe Price Capital Appreciation Fund
  
**
  
                  22,835
 
696
  
-
  
Matthews Dragon Ctry China Fd Cl I
  
**
  
                  20,430
 
320
  
-
  
Permanent Portfolio
  
**
  
                  14,661
 
1,235
  
-
  
Vanguard Short Term Bond Index
  
**
  
                  13,032
 
970
  
-
  
Pimco High Income Fund
  
**
  
                  12,329
 
480
  
-
  
US Global Inv World Precious
  
**
  
                  10,693
 
472
  
-
  
Lazard Emerging Markets Equity Open
  
**
  
                  10,465
 
963
  
-
  
US Global Regent Eastern European
  
**
  
                  10,419
 
779
  
-
  
US Global Inv Global
  
**
  
                    9,272
 
740
  
-
  
Powershs Exch Trad Fd Tr
  
**
  
                    7,689
 
166
  
-
  
Brown Cap Mgmt Small Co Fund
  
**
  
                    7,268
 
206
  
-
  
Nuveen Tradewinds Value Oppty A
  
**
  
                    7,217
 
375
  
-
  
Yacktman Focused Fund
  
**
  
                    6,628
 
297
  
-
  
Matthews Asia Dividend Fund
  
**
  
                    4,252
 
76
  
-
  
Profunds Ultra-Latin
  
**
  
                    1,115
             
**
  
                287,651
 
Unit Investment Trusts
            
 
500
  
-
  
Sector Spdr Tr Con Svcs
  
**
  
                  15,750
 
435
  
-
  
Market Vectors ETF Trust
  
**
  
                    8,704
 
500
  
-
  
Ishares TR Comex Gold
  
**
  
                    6,950
 
35
  
-
  
Spdr Gold Trust
  
**
  
                    4,855
 
67
  
-
  
Ishares MSCI Emerging Mkts Indx Fund
  
**
  
                    3,215
 
295
  
-
  
Claymore Exchange Traded Fund
  
**
  
                    2,155
 
11
      
ETFS Phys Palladium
  
**
  
878
                 
42,507
     
Total Brokerage Account
      
1,052,022
               
               
 
Participant Loans:
            
   *  
-
      
Notes receivable from participants with
        
         
interest rates ranging from 4.25% - 9.50%
  
-
  
319,710
                 
$             29,697,856
                   
                   
*
Indicates parties-in-interest to the Plan.
        
   **
Cost not required to be presented for participant directed investments.
        

Pages 13 - 15
 
 
 
 
 
 
SIGNATURES

The Plan.  Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
Name of Plan:
  
Ecology and Environment, Inc. 401(k) Plan
       
 
By:
  
Ecology and Environment, Inc. 401(k) Plan Committee Plan Administrator
       
Date:   June 29, 2011
By:
  
/s/ Ronald L. Frank
     
Ronald L. Frank
Committee Member