Fullerene and its derivatives have a strong tendency to accept electrons in their highly conjugated structures, which can be useful for various organic optoelectronic devices. In this work we present a series of functionalized fullerenes bearing small pi-conjugated units ranging from weak electron donor to weak acceptors. Basic analyses on the synthesized molecules suggest that the electronic structures of the derivatives have not been altered much. The molecules are readily processable in solution, enabling efficient blending with polymers in solution. Photophysical studies show weak charger transfer characteristics between polymers and the fullerene derivatives. Charge transporting properties of the blends of the new derivatives and polymers are investigated by using xerographic discharge and field-effect methods.