Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2010
For calendar year 2010, or tax year beginning 01-01-2010 , and ending 12-31-2010
G
Check all that apply:
Name of foundation
FOSTER FOUNDATION INC
 

Number and street (or P.O. box number if mail is not delivered to street address)905 ROCKFORD ROAD   Room/suite
City or town, state, and ZIP code
HIGH POINT, NC27262
A Employer identification number

20-0295545
B Telephone number (see page 10 of the instructions)

(804) 639-0399
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$2,263,339J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments 92 92  
4 Dividends and interest from securities...... 53,199 53,199  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 104,233
b Gross sales price for all assets on line 6a 2,489,116
7 Capital gain net income (from Part IV, line 2)... 104,233
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 or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 157,524 157,524  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 3,240 1,620   1,620
c Other professional fees (attach schedule).... Click to see attachment 2,096 2,096   0
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 1 1   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 55 28   27
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 5,392 3,745   1,647
25 Contributions, gifts, grants paid........ 185,000 185,000
26 Total expenses and disbursements. Add lines 24 and 25 190,392 3,745   186,647
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -32,868
b Net investment income (if negative, enter -0-) 153,779
c Adjusted net income (if negative, enter -0-)...  
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2010)
Form 990-PF (2010)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 10,136 31,849 31,849
2 Savings and temporary cash investments.......... 223,423 107,507 107,507
3 Accounts receivable bullet10,000
Less: allowance for doubtful accounts bullet     10,000 10,000
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 271,977 Click to see attachment28,898 29,891
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 1,586,375 Click to see attachment1,880,789 2,084,092
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 2,091,911 2,059,043 2,263,339
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 2,091,911 2,059,043
30 Total net assets or fund balances (see page 17 of the
instructions).................... 2,091,911 2,059,043
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 2,091,911 2,059,043
Part III Analysis of Changes in Net Assets or Fund Balances
1 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)............... 1 2,091,911
2 Enter amount from Part I, line 27a...................... 2 -32,868
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 2,059,043
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 2,059,043
Form 990-PF (2010)
Form 990-PF (2010)
Page 3
Part IV
Capital 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 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a 114 SHS ADOBE SYS INC COM P 2009-01-01 2010-07-28
b 62 SHS ALLERGAN INC COM P 2009-01-01 2010-07-28
c 8 SHS AMAZON INC COM P 2009-01-01 2010-07-13
d 36 SHS AMAZON INC COM P 2009-01-01 2010-07-28
e 17 SHS AMGEN INC COM P 2009-01-01 2010-06-30
4 SHS AMGEN INC COM P 2009-01-01 2010-06-30
79 SHS AMGEN INC COM P 2009-01-01 2010-07-28
25 SHS ANADARKO PETE CORP COM P 2009-01-01 2010-06-14
94 SHS ANALOG DEVICES INC COM P 2009-01-01 2010-07-28
18 SHS APOLLO GROUP INC COM CL A P 2009-01-01 2010-01-20
13 SHS APOLLO GROUP INC COM CL A P 2009-01-01 2010-01-20
7 SHS APOLLO GROUP INC COM CL A P 2009-01-01 2010-01-20
60 SHS APPLE INC COM P 2009-01-01 2010-07-28
26 SHS ASML HLDG NV NY REG SHS P 2009-01-01 2010-01-12
73 SHS ASML HLDG NV NY REG SHS P 2009-01-01 2010-07-28
3 SHS BAIDU INC SPONS ADR P 2009-01-01 2010-01-22
34 SHS BAIDU INC SPONS ADR P 2009-01-01 2010-07-28
81 SHS BAKER HUGHES INC COM P 2009-01-01 2010-07-28
90 SHS BANK OF AMERICA CORP COM P 2009-01-01 2010-07-22
1 SHS BANK OF AMERICA CORP COM P 2009-01-01 2010-07-22
83 SHS BANK OF AMERICA CORP COM P 2009-01-01 2010-07-22
56 SHS BANK OF AMERICA CORP COM P 2009-01-01 2010-07-22
6 SHS BAXTER INTL INC COM P 2009-01-01 2010-04-28
77 SHS BAXTER INTL INC COM P 2009-01-01 2010-04-28
29 SHS BECTON DICKINSON & CO COM P 2009-01-01 2010-06-30
3 SHS BECTON DICKINSON & CO COM P 2009-01-01 2010-06-30
81 SHS BED BATH & BEYOND INC COM P 2009-01-01 2010-07-28
67 SHS BORG WARNER INC COM P 2009-01-01 2010-07-28
67 SHS BROADCOM CORP CL A COM P 2009-01-01 2010-07-28
101 SHS CAMERON INTL CORP COM P 2009-01-01 2010-07-28
70 SHS CAPITAL ONE FINL CORP COM P 2009-01-01 2010-07-28
84 SHS CARNIVAL CORP COM P 2009-01-01 2010-07-28
21 SHS CERNER CORP COM P 2009-01-01 2010-07-28
39 SHS CHURCH & DWIGHT INC COM P 2009-01-01 2010-07-28
212 SHS CISCO SYS INC COM P 2009-01-01 2010-07-28
96 SHS COACH INC COM P 2009-01-01 2010-07-28
46 SHS COLGATE PALMOLIVE CO COM P 2009-01-01 2010-07-28
9 SHS COLGATE PALMOLIVE CO COM P 2009-01-01 2010-06-30
25 SHS COSTCO WHOLESALE CORP COM P 2009-01-01 2010-06-30
28 SHS COSTCO WHOLESALE CORP COM P 2009-01-01 2010-06-30
70 SHS DOVER CORP COM P 2009-01-01 2010-07-28
195.433 SHS DREYFUS/TBC SMALLCAP GROWTH-I P 2009-01-01 2010-09-15
1,228.109 SHS DREYFUS/TBC SMALLCAP GROWTH-I P 2009-01-01 2010-12-20
109.673 SHS DREYFUS/TBC SMALLCAP GROWTH-I P 2009-01-01 2010-03-04
234 SHS EMC CORP MASS COM P 2009-01-01 2010-07-28
92 SHS EMERSON ELEC CO COM P 2009-01-01 2010-07-28
29 SHS EOG RESOURCES INC COM P 2009-01-01 2010-07-28
50 SHS ESTEE LAUDER COS INC COM CL A P 2009-01-01 2010-07-28
87 SHS EXPRESS SCRIPTS INC COM P 2009-01-01 2010-07-28
914.19 SHS FEDERATED EQUITY FDS FED CAP APP FD P 2009-01-01 2010-03-19
13,463.589 SHS FEDERATED EQUITY FDS FED CAP APP FD P 2009-01-01 2010-06-03
45,590.54 SHS FEDERATED MMKT PRIME OBLIG-I #10 FFS P 2009-01-01 2010-06-30
28 SHS GAMESTOP CORP NEW CL A COM P 2009-01-01 2010-06-18
99 SHS GAMESTOP CORP NEW CL A COM P 2009-01-01 2010-07-28
30 SHS GILEAD SCIENCES INC COM P 2009-01-01 2010-02-25
9 SHS GOLDMAN SACHS GROUP INC COM P 2009-01-01 2010-04-29
13 SHS GOLDMAN SACHS GROUP INC COM P 2009-01-01 2010-07-28
231.374 SHS GOLDMAN SACHS GROWTH OPPTYS-I P 2009-01-01 2010-03-19
968.054 SHS GOLDMAN SACHS GROWTH OPPTYS-I P 2009-01-01 2010-06-24
974.966 SHS GOLDMAN SACHS GROWTH OPPTYS-I P 2009-01-01 2010-09-15
17 SHS GOOGLE INC CL A COM P 2009-01-01 2010-07-28
14 SHS GUESS INC COM P 2009-01-01 2010-03-22
13 SHS GUESS INC COM P 2009-01-01 2010-03-22
57 SHS GUESS INC COM P 2009-01-01 2010-07-28
74 SHS HALLIBURTON CO COM P 2009-01-01 2010-04-28
69 SHS HANSEN NATURAL CORP COM P 2009-01-01 2010-07-28
663.807 SHS HARBOR CAP APPRECIATION-I P 2009-01-01 2010-09-15
894.39 SHS HARTFORD DIVIDEND & GROWTH-Y P 2009-01-01 2010-09-15
144 SHS HARTFORD FINL SVCS GROUP INC COM P 2009-01-01 2010-07-28
112 SHS HONEYWELL INTL INC COM P 2009-01-01 2010-07-28
93 SHS HUNT J B TRANS SVCS INC COM P 2009-01-01 2010-07-28
69 SHS ILLINOIS TOOL WKS INC COM P 2009-01-01 2010-07-28
326 SHS INTEL CORP COM P 2009-01-01 2010-07-28
5 SHS INTERNATIONAL BUSINESS MACHS COM P 2009-01-01 2010-06-03
18 SHS INTERNATIONAL BUSINESS MACHS COM P 2009-01-01 2010-07-28
139 SHS INTERNATIONAL PAPER CO COM P 2009-01-01 2010-07-28
8 SHS INTUITIVE SURGICAL INC COM P 2009-01-01 2010-07-28
17 SHS ISHARES TR BARCLAYS TIPS BD ETF P 2009-01-01 2010-09-17
300 SHS ISHARES TR RUSSELL 1000 GROWTH INDEX P 2009-01-01 2010-03-23
800 SHS ISHARES TR RUSSELL 1000 GROWTH INDEX P 2009-01-01 2010-04-13
1,825 SHS ISHARES TR RUSSELL 1000 GROWTH INDEX P 2009-01-01 2010-06-07
230.734 SHS JANUS PERKINS SMALL CAP VALUE-I P 2009-01-01 2010-03-04
229.043 SHS JANUS PERKINS SMALL CAP VALUE-I P 2009-01-01 2010-06-24
147.8 SHS JANUS PERKINS SMALL CAP VALUE-I P 2009-01-01 2010-09-15
14 SHS JOY GLOBAL INC COM P 2009-01-01 2010-01-26
30 SHS JOY GLOBAL INC COM P 2009-01-01 2010-07-28
2,853.201 SHS JPMORGAN TR I US EQUITY-I P 2009-01-01 2010-09-15
122 SHS JUNIPER NETWORKS INC COM P 2009-01-01 2010-07-28
58 SHS KOHLS CORP COM P 2009-01-01 2010-07-28
28 SHS LAS VEGAS SANDS CORP COM P 2009-01-01 2010-03-22
13 SHS LAS VEGAS SANDS CORP COM P 2009-01-01 2010-03-22
6 SHS LAS VEGAS SANDS CORP COM P 2009-01-01 2010-03-22
98 SHS LAS VEGAS SANDS CORP COM P 2009-01-01 2010-07-28
266.468 SHS LEGG MASON BATTERYMRC EMRG MKTS-I P 2009-01-01 2010-09-15
235.96 SHS LEGG MASON GLOBAL TR INC EMERG MKTS-I P 2009-01-01 2010-03-19
31 SHS LUBRIZOL CORP COM P 2009-01-01 2010-07-28
32 SHS MCAFEE INC COM P 2009-01-01 2010-06-30
30 SHS MCAFEE INC COM P 2009-01-01 2010-06-30
7 SHS MCAFEE INC COM P 2009-01-01 2010-06-30
1,638.408 SHS MFS RESEARCH INTL-I P 2009-01-01 2010-09-15
758.15 SHS MFS SER TR I RESH INTL-I P 2009-01-01 2010-06-24
209 SHS MICROSOFT CORP COM P 2009-01-01 2010-07-28
104 SHS MORGAN STANLEY COM NEW P 2009-01-01 2010-01-26
23 SHS MYLAN INC COM P 2009-01-01 2010-03-31
167 SHS MYLAN INC COM P 2009-01-01 2010-07-28
3 SHS NETEASE COM INC SPONS ADR P 2009-01-01 2010-01-27
14 SHS NETEASE COM INC SPONS ADR P 2009-01-01 2010-01-27
10 SHS NETEASE COM INC SPONS ADR P 2009-01-01 2010-01-27
60 SHS NETEASE COM INC SPONS ADR P 2009-01-01 2010-07-28
46 SHS OCCIDENTAL PETE CORP COM P 2009-01-01 2010-07-28
3 SHS ORACLE CORP COM P 2009-01-01 2010-03-31
17 SHS ORACLE CORP COM P 2009-01-01 2010-03-31
306 SHS ORACLE CORP COM P 2009-01-01 2010-07-28
18 SHS PARKER HANNIFIN CORP COM P 2009-01-01 2010-07-26
48 SHS PARKER HANNIFIN CORP COM P 2009-01-01 2010-07-28
8 SHS PEABODY ENERGY CORP COM P 2009-01-01 2010-01-26
12 SHS PEABODY ENERGY CORP COM P 2009-01-01 2010-01-26
19 SHS PEABODY ENERGY CORP COM P 2009-01-01 2010-05-24
58 SHS PEABODY ENERGY CORP COM P 2009-01-01 2010-07-28
21 SHS PHILIP MORRIS INTL COM P 2009-01-01 2010-06-30
131 SHS PHILIP MORRIS INTL COM P 2009-01-01 2010-07-28
3,451.408 SHS PIMCO TOTAL RETURN FD-I P 2009-01-01 2010-03-04
1,784.121 SHS PIMCO TOTAL RETURN FD-I P 2009-01-01 2010-06-24
55 SHS PRAXAIR INC COM P 2009-01-01 2010-07-28
64 SHS PRICE T ROWE GROUP INC COM P 2009-01-01 2010-07-28
9 SHS PRICELINE.COM INC NEW COM P 2009-01-01 2010-07-28
11 SHS QUALCOMM CORP COM P 2009-01-01 2010-02-02
38 SHS QUALCOMM CORP COM P 2009-01-01 2010-02-02
93 SHS QUALCOMM CORP COM P 2009-01-01 2010-04-27
627.24 SHS RIDGEWORTH FD-LARGECAP VAL EQTY#512 P 2009-01-01 2010-03-04
1,457.976 SHS RIDGEWORTH FD-LARGECAP VAL EQTY#512 P 2009-01-01 2010-03-19
10,033.445 SHS RIDGEWORTH FD-LARGECAP VAL EQTY#512 P 2009-01-01 2010-04-09
1,391.821 SHS RIDGEWORTH FD-LARGECAP VAL EQTY#512 P 2009-01-01 2010-09-15
468.603 SHS RIDGEWORTH FD-MIDCAP VAL EQ #412 P 2009-01-01 2010-03-04
1,611.459 SHS RIDGEWORTH FD-MIDCAP VAL EQTY #412 P 2009-01-01 2010-03-19
1,769.374 SHS RIDGEWORTH FD-MIDCAP VAL EQTY #412 P 2009-01-01 2010-09-15
1,022,005.2 SHS RIDGEWORTH FD-PRIME QTLY MMKT #500 P 2009-01-01 2010-06-30
3,581.527 SHS RIDGEWORTH FD-TOTAL RETURN BD #800 P 2009-01-01 2010-03-04
1,831.502 SHS RIDGEWORTH FD-TOTAL RETURN BD-I #800 P 2009-01-01 2010-06-24
39 SHS ROBERT HALF INTL INC COM P 2009-01-01 2010-05-03
7 SHS ROBERT HALF INTL INC COM P 2009-01-01 2010-05-03
27 SHS ROBERT HALF INTL INC COM P 2009-01-01 2010-05-03
1 SHS ROBERT HALF INTL INC COM P 2009-01-01 2010-05-03
41 SHS SALESFORCE COM INC COM P 2009-01-01 2010-07-28
115 SHS SCHLUMBERGER LTD COM P 2009-01-01 2010-07-28
79 SHS SCRIPPS NETWORKS INTERACTIVE CL A P 2009-01-01 2010-07-28
15 SHS SOUTHWESTERN ENERGY CO COM P 2009-01-01 2010-01-20
34 SHS SOUTHWESTERN ENERGY CO COM P 2009-01-01 2010-01-20
15 SHS SOUTHWESTERN ENERGY CO COM P 2009-01-01 2010-01-20
1,393.939 SHS T ROWE PRICE REAL ESTATE FD P 2009-01-01 2010-09-15
1,106.771 SHS T ROWE PRICE REAL ESTATE SHS P 2009-01-01 2010-03-19
834.347 SHS THE JENSEN PORTFOLIO-I P 2009-01-01 2010-09-15
14 SHS THERMO FISHER SCIENTIFIC INC COM P 2009-01-01 2010-06-30
55 SHS THERMO FISHER SCIENTIFIC INC COM P 2009-01-01 2010-07-28
1 SHS TJX COS INC COM NEW P 2009-01-01 2010-04-05
29 SHS TJX COS INC COM NEW P 2009-01-01 2010-04-05
27 SHS TJX COS INC COM NEW P 2009-01-01 2010-04-05
23 SHS TJX COS INC COM NEW P 2009-01-01 2010-04-05
12 SHS TRANSOCEAN LTD CHF15 SHS P 2009-01-01 2010-02-23
8 SHS TRANSOCEAN LTD CHF15 SHS P 2009-01-01 2010-02-23
13 SHS UNION PACIFIC CORP COM P 2009-01-01 2010-07-26
3 SHS UNION PACIFIC CORP COM P 2009-01-01 2010-07-26
39 SHS UNION PACIFIC CORP COM P 2009-01-01 2010-07-28
88 SHS UNITED PARCEL SVC INC CL B COM P 2009-01-01 2010-07-28
18 SHS UNITED STS STL CORP NEW COM P 2009-01-01 2010-01-26
36 SHS UNITED STS STL CORP NEW COM P 2009-01-01 2010-01-29
24 SHS URBAN OUTFITTERS INC COM P 2009-01-01 2010-07-13
54 SHS URBAN OUTFITTER INC COM P 2009-01-01 2010-07-28
985 SHS VANGUARD BD INDEX SHORT TERM BD ETF P 2009-01-01 2010-09-17
52 VIACOM INC NEW CL B P 2009-01-01 2010-07-28
67 SHS VISA INC CL A COM P 2009-01-01 2010-07-28
40 SHS WAL-MART STORES INC COM P 2009-01-01 2010-05-12
29 SHS WAL-MART STORES INC COM P 2009-01-01 2010-05-12
2 SHS WAL-MART STORES INC COM P 2009-01-01 2010-05-12
54 SHS WAL-MART STORES INC COM P 2009-01-01 2010-06-30
58 SHS WELLPOINT INC COM P 2009-01-01 2010-06-30
62 SHS WHOLE FOODS MKT INC COM P 2009-01-01 2010-01-26
50 SHS 3M CO COM P 2009-01-01 2010-07-28
CAPITAL GAINS DIVIDENDS P    
(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 3,328   4,608 -1,280
b 3,791   3,469 322
c 927   850 77
d 4,164   3,827 337
e 966   1,017 -51
228   239 -11
4,342   4,725 -383
1,015   1,757 -742
2,918   3,050 -132
1,072   1,198 -126
774   865 -91
417   466 -49
15,820   8,483 7,337
894   569 325
2,332   1,653 679
1,334   389 945
2,754   689 2,065
3,915   3,459 456
1,196   1,179 17
13   13 0
1,103   1,087 16
743   733 10
300   339 -39
3,838   4,345 -507
2,007   2,471 -464
208   256 -48
3,116   3,591 -475
2,879   2,498 381
2,526   1,844 682
3,942   3,807 135
2,894   1,991 903
2,915   3,096 -181
1,613   1,652 -39
2,637   2,098 539
4,953   4,305 648
3,581   3,390 191
3,855   2,884 971
717   564 153
1,413   1,506 -93
1,587   1,686 -99
3,349   2,837 512
8,900   6,919 1,981
67,337   43,481 23,856
5,000   3,883 1,117
4,723   2,789 1,934
4,621   3,418 1,203
2,905   3,159 -254
3,172   2,668 504
3,783   2,226 1,557
16,300   13,444 2,856
222,957   197,988 24,969
45,591   45,591 0
577   697 -120
2,027   2,464 -437
1,439   1,142 297
1,389   1,489 -100
1,922   2,150 -228
5,000   4,510 490
20,000   18,870 1,130
21,225   19,005 2,220
8,400   7,704 696
642   421 221
596   391 205
2,097   1,857 240
2,613   2,597 16
2,972   2,687 285
21,275   21,045 230
15,625   16,253 -628
3,355   4,118 -763
4,901   4,268 633
3,343   2,618 725
3,008   2,454 554
7,028   6,911 117
629   418 211
2,321   1,505 816
3,550   3,774 -224
2,674   1,134 1,540
1,840   1,767 73
15,552   14,921 631
41,968   39,790 2,178
88,630   90,771 -2,141
5,000   4,460 540
5,000   4,427 573
3,225   2,857 368
762   469 293
1,738   1,067 671
25,850   25,375 475
3,434   2,428 1,006
2,831   2,210 621
560   334 226
264   155 109
123   72 51
2,486   1,364 1,122
5,825   3,599 2,226
5,000   2,664 2,336
2,870   2,686 184
1,008   999 9
948   936 12
221   219 2
23,675   19,316 4,359
10,000   8,938 1,062
5,452   4,727 725
3,057   2,546 511
509   305 204
3,038   2,265 773
101   103 -2
469   481 -12
335   344 -9
2,219   2,040 179
3,694   3,356 338
77   44 33
435   247 188
7,496   4,569 2,927
1,060   1,027 33
2,930   2,741 189
370   256 114
553   384 169
732   622 110
2,598   2,102 496
980   957 23
6,693   5,970 723
38,000   37,347 653
20,000   19,309 691
4,722   3,295 1,427
3,116   3,169 -53
2,078   1,783 295
467   462 5
1,619   1,596 23
3,628   3,913 -285
7,000   8,318 -1,318
17,000   19,336 -2,336
120,000   133,055 -13,055
15,825   18,272 -2,447
5,000   4,706 294
18,000   16,184 1,816
18,950   17,775 1,175
1,022,005   1,022,005 0
38,000   35,157 2,843
20,000   17,992 2,008
1,086   1,052 34
197   189 8
753   729 24
28   27 1
4,051   1,725 2,326
6,649   7,215 -566
3,331   3,162 169
730   471 259
1,655   1,068 587
733   471 262
23,000   28,137 -5,137
17,000   22,412 -5,412
20,575   20,526 49
717   740 -23
2,538   2,906 -368
43   33 10
1,259   953 306
1,168   887 281
998   755 243
996   1,411 -415
664   940 -276
903   802 101
209   185 24
2,918   2,406 512
5,722   5,199 523
1,090   722 368
1,872   1,442 430
816   841 -25
1,809   1,891 -82
80,179   78,490 1,689
1,717   1,788 -71
5,127   3,722 1,405
2,098   2,012 86
1,518   1,459 59
105   101 4
2,669   2,717 -48
3,009   3,583 -574
1,848   1,272 576
4,332   4,325 7
9,713     9,713
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       -1,280
b       322
c       77
d       337
e       -51
      -11
      -383
      -742
      -132
      -126
      -91
      -49
      7,337
      325
      679
      945
      2,065
      456
      17
      0
      16
      10
      -39
      -507
      -464
      -48
      -475
      381
      682
      135
      903
      -181
      -39
      539
      648
      191
      971
      153
      -93
      -99
      512
      1,981
      23,856
      1,117
      1,934
      1,203
      -254
      504
      1,557
      2,856
      24,969
      0
      -120
      -437
      297
      -100
      -228
      490
      1,130
      2,220
      696
      221
      205
      240
      16
      285
      230
      -628
      -763
      633
      725
      554
      117
      211
      816
      -224
      1,540
      73
      631
      2,178
      -2,141
      540
      573
      368
      293
      671
      475
      1,006
      621
      226
      109
      51
      1,122
      2,226
      2,336
      184
      9
      12
      2
      4,359
      1,062
      725
      511
      204
      773
      -2
      -12
      -9
      179
      338
      33
      188
      2,927
      33
      189
      114
      169
      110
      496
      23
      723
      653
      691
      1,427
      -53
      295
      5
      23
      -285
      -1,318
      -2,336
      -13,055
      -2,447
      294
      1,816
      1,175
      0
      2,843
      2,008
      34
      8
      24
      1
      2,326
      -566
      169
      259
      587
      262
      -5,137
      -5,412
      49
      -23
      -368
      10
      306
      281
      243
      -415
      -276
      101
      24
      512
      523
      368
      430
      -25
      -82
      1,689
      -71
      1,405
      86
      59
      4
      -48
      -574
      576
      7
      9,713
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 104,233
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
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 page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2009 247,991 2,019,262 0.122813
2008 217,946 2,583,924 0.084347
2007 266,521 3,164,711 0.084217
2006 202,792 3,102,146 0.065372
2005 204,938 1,294,800 0.158278
2 Total of line 1, column (d) ...................... 2 0.515027
3 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. . . 		3 0.103005
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 2,105,677
5 Multiply line 4 by line 3....................... 5 216,895
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 1,538
7 Add lines 5 and 6......................... 7 218,433
8 Enter qualifying distributions from Part XII, line 4.............. 8 186,647
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2010)
Form 990-PF (2010)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 3,076
hereBulletand 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, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2............................ 3 3,076
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 3,076
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 1,355
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.............. 7 1,355
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 1,721
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet   Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?.............................
1b
 
No
If the answer is “Yes” to 1a 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?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
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....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
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
  • 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?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletNC
    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 G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    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 page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletYOUNT HYDE BARBOUR PC Telephone no.bullet (804) 553-1900
    Located atbullet4405 COX ROAD SUITE 225GLEN ALLENVA ZIP+4bullet23060
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    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 1a(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 page 20 of the instructions)?...
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2010?.............
    1c
     
    No
    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(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    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 page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2010 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 2010.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    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 beginning in 2010?
    4b
     
    No
    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 page 22 of the 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 page 22 of the instructions)?
    5b
     
     
    .........bullet
    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?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (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 compensation     		(e) Expense account,
    other allowances
    LOUISE L FOSTER PRES/TREAS/DIRECTOR
    2.00     		0 0 0
    905 ROCKFORD ROAD
    HIGH POINT,NC27262
    JOHN N FOSTER JR VICE PRES/SEC/DIRECTOR
    1.00     		0 0 0
    905 ROCKFORD ROAD
    HIGH POINT,NC27262
    GILBERT L GATES DIRECTOR
    1.00     		0 0 0
    300 NORTH MAIN STREET
    HIGH POINT,NC27260
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    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. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3...........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    2,125,908
    b
    Average of monthly cash balances.......................
    1b
    11,835
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,137,743
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) ..............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d..........................
    3
    2,137,743
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    32,066
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    2,105,677
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    105,284
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    105,284
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    3,076
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    3,076
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    102,208
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    102,208
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1.................................
    7
    102,208
    Part XII
    Qualifying Distributions (see page 25 of the instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    186,647
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes................................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    186,647
    5
    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 page 26 of the instructions)............
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    186,647
    Note: The amount on line 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 (2010)
    Form 990-PF (2010)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2009     		(c)
    2009     		(d)
    2010
    1 Distributable amount for 2010 from Part XI, line 7 102,208
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2010:
    a From 2005....... 143,011
    b From 2006....... 51,271
    c From 2007....... 112,639
    d From 2008....... 91,076
    e From 2009....... 148,033
    fTotal of lines 3a through e......... 546,030
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 186,647
    a Applied to 2009, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		 0
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2010 distributable amount..... 102,208
    e Remaining amount distributed out of corpus 84,439
    5 Excess distributions carryover applied to 2010. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 630,469
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    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......     		0
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		0
    e Undistributed income for 2009. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		0
    f Undistributed income for 2010. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		0
    8Excess distributions carryover from 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		143,011
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		487,458
    10 Analysis of line 9:
    a Excess from 2006.... 51,271
    b Excess from 2007.... 112,639
    c Excess from 2008.... 91,076
    d Excess from 2009.... 148,033
    e Excess from 2010.... 84,439
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
             
    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 exempt 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 qualifying
    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
    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(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList 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).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ST CATHERINE'S SCHOOL
    6001 GROVE AVENUE
    RICHMOND,VA23226     		NONE   EDUCATION 1,000
    ST CATHERINE'S SCHOOL
    6001 GROVE AVENUE
    RICHMOND,VA23226     		NONE   EDUCATION 5,000
    THE PIEDMONT SCHOOL
    815 OLD MILL ROAD
    HIGH POINT,NC27265     		NONE   EDUCATION 15,000
    THE PIEDMONT SCHOOL
    815 OLD MILL ROAD
    HIGH POINT,NC27265     		NONE   EDUCATION 7,500
    THE STEWARD SCHOOL
    11600 GAYTON ROAD
    RICHMOND,VA23238     		NONE   EDUCATION 5,000
    ANNA JULIA COOPER EPISCOPAL SCHOOL
    1716 N 22ND STREET
    RICHMOND,VA23223     		NONE   EDUCATION 10,000
    FLAGLER COLLEGE
    74 KING ST
    ST AUGUSTINE,FL32084     		NONE   EDUCATION 2,500
    J SARGEANT REYNOLDS COMMUNITY COLLEGE
    PO BOX 26924
    RICHMOND,VA23261     		NONE   EDUCATION 1,500
    HIGH POINT REGIONAL HEALTH SYSTEM
    PO BOX HP-5
    HIGH POINT,NC27261     		NONE   MEDICAL 1,000
    HIGH POINT REGIONAL HEALTH SYSTEM
    PO BOX HP-5
    HIGH POINT,NC27261     		NONE   MEDICAL 3,000
    CHILDREN'S TUMOR FOUNDATION
    95 PINE STREET 16TH FLOOR
    NEW YORK,NY10005     		NONE   MEDICAL 1,000
    CARING SERVICES INC
    PO BOX 6219
    HIGH POINT,NC27262     		NONE   MEDICAL 2,500
    DOCTORS WITHOUT BORDERS
    PO BOX 5030
    HAGERSTOWN,MD21741     		NONE   MEDICAL 10,000
    WEST END MINISTRIES INC
    PO BOX 2163
    HIGH POINT,NC27261     		NONE   RELIGIOUS 5,000
    ST MARY'S EPISCOPAL CHURCH
    108 WEST FARRIS AVENUE
    HIGH POINT,NC27262     		NONE   RELIGIOUS (CAPITAL) 10,000
    ST MARY'S EPISCOPAL CHURCH
    108 WEST FARRIS AVENUE
    HIGH POINT,NC27262     		NONE   RELIGIOUS (MUSIC) 3,000
    ST MARY'S EPISCOPAL CHURCH
    108 WEST FARRIS AVENUE
    HIGH POINT,NC27262     		NONE   RELIGIOUS 15,000
    BOYS & GIRLS CLUBS OF GREATER HIGH POINT
    PO BOX 2834
    HIGH POINT,NC27261     		NONE   SOCIAL SERVICES 5,000
    BOYS & GIRLS CLUBS OF GREATER HIGH POINT
    PO BOX 2834
    HIGH POINT,NC27261     		NONE   SOCIAL SERVICES 5,000
    HEIFER PROJECT
    1 WORLD AVENUE
    LITTLE ROCK,AR72202     		NONE   SOCIAL SERVICES 1,500
    HIGH POINT COMMUNITY FOUNDATION
    PO BOX 1371
    HIGH POINT,NC27261     		NONE   SOCIAL SERVICES 20,000
    OPEN DOOR MINISTRIES
    PO BOX 1528
    HIGH POINT,NC27261     		NONE   SOCIAL SERVICES 1,000
    OPEN DOOR MINISTRIES
    PO BOX 1528
    HIGH POINT,NC27261     		NONE   SOCIAL SERVICES 2,500
    OPEN DOOR MINISTRIES
    PO BOX 1528
    HIGH POINT,NC27261     		NONE   SOCIAL SERVICES 10,000
    SECOND HARVEST FOOD BANK
    3655 REED STREET
    WINSTONSALEM,NC27107     		NONE   SOCIAL SERVICES 5,000
    SECOND HARVEST FOOD BANK
    3655 REED STREET
    WINSTONSALEM,NC27107     		NONE   SOCIAL SERVICES 1,000
    ST JOSEPH'S VILLA
    8000 BROOK ROAD
    RICHMOND,VA23227     		NONE   SOCIAL SERVICES 20,000
    UNITED WAY OF HIGH POINT
    201 CHURCH AVENUE
    HIGH POINT,NC27262     		NONE   SOCIAL SERVICES 15,000
    CHILDREN'S ADVOCACY CENTERS OF NORTH CAROLINA
    PO BOX 6312
    HIGH POINT,NC27262     		NONE   SOCIAL SERVICES 1,000
    Total .................................bullet 3a 185,000
    bApproved for future payment
    Total ..................................bullet 3b 0
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 92  
    4 Dividends and interest from securities....     14 53,199  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory     18 104,233  
    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).. 0 157,524 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    13157,524
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    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....................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements............................
    1b(4)
     
    No
    (5) Loans or loan guarantees..............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2010)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2010 AccountingFeesSchedule
    Name:
    FOSTER FOUNDATION INC
    EIN: 20-0295545
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 3,240 1,620   1,620

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    FOSTER FOUNDATION INC
    EIN: 20-0295545
    Name of Stock End of Year Book Value End of Year Fair Market Value
    278 ISHARES TR US TRSY INFLN PROTECTED SECS BD ETF 28,898 29,891

    TY 2010 InvestmentsOtherSchedule2
    Name:
    FOSTER FOUNDATION INC
    EIN: 20-0295545
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    5,208.431 GOLDMAN SACHS TR GROWTH OPPORTUNITIES FD INSTL CL AT COST 101,738 126,825
    5,285.224 HARBOR FD CAP APPRECIATION FD INSTL CL AT COST 167,613 194,073
    6,486.574 HARTFORD MUT FDS DIVIDEND & GROWTH FD CL Y AT COST 117,888 124,931
    2,229.617 INVESCO GROWTH SER SMALL CAP GROWTH FD CL INSTL AT COST 67,000 66,955
    2,176.679 JANUS FDS PERKINS SMALL CAP VALUE FD CL I AT COST 42,366 52,306
    25,079.961 JPMORGAN TR I AT COST 223,082 257,320
    2,761.299 LEGG MASON GLOBAL TR BATTERYMARCH EMERGING MKTS TR INSTL AT COST 37,440 67,431
    7,818.094 MFS FDS RESEARCH INTL FD INSTL CL AT COST 92,589 122,666
    5,769.391 PIMCO FDS COMMODITY REALRETURN STRATEGY INSTL AT COST 47,438 53,598
    23,481.81 PIMCO FDS TOTAL RETURN FD INSTL CL AT COST 257,338 254,778
    1,474.103 PRICE T ROWE FDS REAL ESTATE FD AT COST 29,689 25,797
    6,897.519 JENSEN PORTFOLIO INC CL I AT COST 169,751 186,923
    9,937.655 RIDGEWORTH FD-LARGECAP VALUE EQUITY I SHS #RGD4 AT COST 130,386 127,599
    9,132.393 RIDGEWORTH FD-MIDCAP VAL EQUITY I SHS #RGD5 AT COST 92,632 108,402
    6.404.119 RIDGEWORTH FD-SEIX HIGH YIELD I SHS #RGCL AT COST 60,010 62,952
    24,139.746 RIDGEWORTH FD-TOTAL RETURN BD I SHS #RGCP AT COST 243,829 251,536

    TY 2010 OtherExpensesSchedule
    Name:
    FOSTER FOUNDATION INC
    EIN: 20-0295545
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK SERVICE CHARGES 55 28   27


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    FOSTER FOUNDATION INC
    EIN: 20-0295545
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 2,096 2,096   0


    TY 2010 TaxesSchedule
    Name:
    FOSTER FOUNDATION INC
    EIN: 20-0295545
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES WITHHELD 1 1   0