Form990-PF
Click to see attachment

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
HILLSDALE FUND INC
 

Number and street (or P.O. box number if mail is not delivered to street address)C/O PIEDMONT FIN TRUST CO BOX 20124   Room/suite
City or town, state, and ZIP code
GREENSBORO, NC27420
A Employer identification number

56-6057433
B Telephone number (see page 10 of the instructions)

(336) 274-5471
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$29,475,740J 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) 19,436
2 Check bullet
3 Interest on savings and temporary cash investments 115 115  
4 Dividends and interest from securities...... 186 562,085  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 0
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 826,438
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)....... Click to see attachment 826,434 6,154  
12 Total. Add lines 1 through 11........ 846,171 1,394,792  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 15,000     15,000
14 Other employee salaries and wages...... 58,908     58,908
15 Pension plans, employee benefits....... 2,636     2,636
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 401 401    
17 Interest............... 361 57,207   361
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 3,401 20,655    
19 Depreciation (attach schedule) and depletion... Click to see attachment 0    
20 Occupancy.............. 32,682     32,705
21 Travel, conferences, and meetings....... 4,153     4,153
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 143,519 397,217   46,687
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 261,061 475,480   160,450
25 Contributions, gifts, grants paid........ 1,107,890 1,107,890
26 Total expenses and disbursements. Add lines 24 and 25 1,368,951 475,480   1,268,340
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -522,780
b Net investment income (if negative, enter -0-) 919,312
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............... 16,237 59,623 59,623
2 Savings and temporary cash investments.......... 223,677 157,514 157,514
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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)........      
c Investments—corporate bonds (attach schedule)........ 4,760 4,760 66
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment24,596,714 Click to see attachment24,389,258 Click to see attachment29,258,537
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 24,841,388 24,611,155 29,475,740
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
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......... 24,841,388 24,611,155
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 24,841,388 24,611,155
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 24,841,388 24,611,155
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 24,841,388
2 Enter amount from Part I, line 27a...................... 2 -522,780
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 1,118,981
4 Add lines 1, 2, and 3.......................... 4 25,437,589
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 826,434
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 24,611,155
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.)
1a
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
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
b
c
d
e
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 2 826,438
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 1,525,715 24,182,211 0.06309
2008 1,760,317 31,735,859 0.05547
2007 1,447,664 37,310,914 0.03880
2006 1,553,511 34,575,697 0.04493
2005 1,404,024 32,810,821 0.04279
2 Total of line 1, column (d) ...................... 2 0.24508
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 0.04902
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 27,063,011
5 Multiply line 4 by line 3....................... 5 1,326,521
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 9,193
7 Add lines 5 and 6......................... 7 1,335,714
8 Enter qualifying distributions from Part XII, line 4.............. 8 1,268,340
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 18,386
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  
3 Add lines 1 and 2............................ 3 18,386
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 18,386
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 12,222
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 17,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 29,222
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 442
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 10,394
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet10,394 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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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
Yes
 
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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 ofbulletPIEDMONT FINANCIAL TRUST CO Telephone no.bullet (336) 274-5471
    Located atbullet701 GREEN VALLEY RDGREENSBORONC ZIP+4bullet27408
    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
     
    No
    .........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
     
    No
    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
     
    No
    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
     
    No
    .........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
     
    No
    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
    MARTIN M BONEY Trustee
    4.00     		0    
    PO BOX 20124
    GREENSBORO,NC27420
    JAMES L RICHARDSON Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    BARBARA R EVANS Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    LOUISE B MCCOY Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    JOHN PETER GALLAGHER Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    LAURINDA L DOUGLAS Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    MARGARET W GALLAGHER Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    SION A BONEY III Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    LUNSFORD R SMITH Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    RICHARD G SMITH III Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    EUDORA L RICHARDSON Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    MARGARET R WHITE Trustee
    4.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    WILLIAM L R SMITH Trustee
    0.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    LUNSFORD RICHARDSON Jr President
    0.00     		0    
    P O BOX 20124
    GREENSBORO,NC27420
    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
    MARY SCOTTClick to see attachment GRANTS COORDINATOR
    20.00     		59,973 2,646  
    PO BOX 20124
    GREENSBORO,NC27420
    Total number of other employees paid over $50,000...................bullet  
    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
    PIEDMONT FINANCIAL TRUST COMPANY ACCOUNTING 129,110
    PO BOX 20124
    GREENSWBORO,NC27420
    Total number of others receiving over $50,000 for professional services.............bullet  
    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 N/A 0
    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...........................bullet  
    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
    27,148,027
    b
    Average of monthly cash balances.......................
    1b
    327,111
    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
    27,475,138
    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
     
    3
    Subtract line 2 from line 1d..........................
    3
    27,475,138
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    412,127
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    27,063,011
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    1,353,151
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,353,151
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    18,386
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    18,386
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,334,765
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4.............................
    5
    1,334,765
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1.................................
    7
    1,334,765
    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
    1,268,340
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    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
    1,268,340
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    1,268,340
    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 1,334,765
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 1,197,385
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2010:
    a From 2005.......  
    b From 2006.......  
    c From 2007.......  
    d From 2008.......  
    e From 2009.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 1,268,340
    a Applied to 2009, but not more than line 2a 1,197,385
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		  
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2010 distributable amount..... 70,955
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2010.    
    (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  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		 
    e Undistributed income for 2009. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    f Undistributed income for 2010. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		1,263,810
    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) ...........     		 
    8Excess distributions carryover from 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		 
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2006....  
    b Excess from 2007....  
    c Excess from 2008....  
    d Excess from 2009....  
    e Excess from 2010....  
    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).)
    MARGARET R WHITE
    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:
    MARY SCOTT HILLSDALE FUND INC
    PO BOX 20124
    GREENSBORO,NC27420
    (336) 274-5471
    bThe form in which applications should be submitted and information and materials they should include:
    COMPLETED APPLICATION WITH A COPY OF INTERNAL REVENUE SERVICE EXEMPTION LETTER
    cAny submission deadlines:
    DEADLINES VARY EACH YEAR, ONE IN SPRING AND ONE IN FALL
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    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
    KOLUNGA VILLAGE FOUNDATION
    PO BOX 2
    YORKVILLE,CA95494     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    WINSTON SALEM FOUNDATION
    860 WEST FIFTH STREET
    WINSTONSALEM,NC27101     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 2,000
    LOYOLA UNIVERSITY
    1032 WEST SHERIDAN ROAD
    CHICAGO,IL60660     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 3,000
    CAPITAL PARTNERS FOR EDUCATION
    1413 K STREET NW 2ND FLOOR
    WASHINGTON,DC20005     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    MIDDLEBURG COMMUNITY CENTER
    PO BOX 265
    MIDDLEBURG,VA20118     		NONE 509(a)(2) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 3,000
    TOWN OF BELL BUCKLE
    PO BOX 276
    BELL BUCKLE,TN37020     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 20,000
    SAFECHILD
    864 WEST MORGAN STREET
    RALEIGH,NC27603     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 20,000
    REHOBETH CHURCH PRESERVATION
    1416 HOLLY NECK ROAD
    ROPER,NC27970     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 13,000
    NC MUSEUM OF HISTORY ASSOCIATES
    PO BOX 25937
    RALEIGH,NC27611     		NONE 509(a)(3) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 3,000
    NANTUCKET CONSERVATION FOUNDATION
    PO BOX 13
    NANTUCKET,MA02554     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    LEWIS RATHBUN WELLNESS CENTER
    121 SHERWOOD ROAD
    ASHEVILLE,NC28803     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 8,000
    THE CHILDREN'S HOSPITAL
    1830 FRANKLIN STREET
    DENVER,CO80218     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 18,000
    UNC AT CHAPEL HILL
    910 RALEIGH ROAD
    CHAPEL HILL,NC27514     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    TRIAD STAGE INC
    232 SOUTH ELM STREET
    GREENSBORO,NC27401     		NONE 509(a)(2) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    PRESERVATION GREENSBORO INC
    PO BOX 13136
    GREENSBORO,NC27415     		NONE 509(a)(2) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    NC CENTER FOR NONPROFITS
    1110 NAVAHO DRIVE SUITE 200
    RALEIGH,NC27609     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 20,000
    NATIONAL CONFERENCE FOUNDATION
    1720 N STREET NW
    WASHINGTON,DC20036     		NONE 509(a)(3) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    LOAVES AND FISHES MINISTRY
    1950 NEW BERN AVENUE
    RALEIGH,NC27610     		NONE 509(a)(2) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    LAND TRUST ALLIANCE
    PO BOX 33355
    RALEIGH,NC27636     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 20,000
    HEARTS OF THE FATHER OUTREACH
    241 MAIN STREET
    SHEFFIELD,MA01257     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 15,000
    GREENSBORO URBAN MINISTRIES
    305 WEST LEE STREET
    GREENSBORO,NC27406     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 16,000
    GREENSBORO SYMPHONY
    200 NORTH DAVIE STREET
    GREENSBORO,NC27401     		NONE 509(a)(2) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    FOOD BANK OF CENTRAL EASTERN NC
    3808 TARHEEL DRIVE
    RALEIGH,NC27609     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 15,000
    CHILDREN'S HOME SOCIETY
    604 MEADOW STREET
    GREENSBORO,NC27405     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 15,000
    ALEXANDRIA SEAPORT FOUNDATION
    PO BOX 25036
    ALEXANDRIA,VA22313     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    SEAL HARBOR VILLAGE IMPRVMT SOCIETY
    PO BOX 171
    SEAL HARBOR,ME04675     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    TENNESSEE SHAKESPEARE FESTIVAL INC
    PO BOX 352
    BELL BUCKLE,TN37020     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 25,000
    EASTERN MUSIC FESTIVAL
    PO BOX 22026
    GREENSBORO,NC27420     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    FORSYTH C0UNTRY DAY SCHOOL
    5501 SHALLOWFORD ROAD
    LEWISVILLE,NC27023     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 1,000
    ASPEN VALLEY MEDICAL FOUNDATION
    PO BOX 1639
    ASPEN,CO81612     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    BUCKNELL UNIVERSITY
    701 MOORE AVENUE
    LEWISBURG,PA17837     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 3,500
    HEARTS AND HANDS FOR HAITI
    2013 MIDWOOD DRIVE
    RALEIGH,NC27604     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    NATURAL RESOURCES COUNCIL OF MAINE
    36 WADE STREET
    AUGUSTA,ME04330     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    MANITOU SPRINGS SCHOOL
    405 EL MONTE PLACE
    MANITOU SPRINGS,CO80829     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 18,000
    VIRGINIA ORGANIZING PROJECT
    703 CONCORD AVENUE
    CHARLOTTESVILLE,VA22903     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 3,000
    NATIONAL AVIATION HALL OF FAME
    1100 SPAATZ STREET
    DAYTON,OH45433     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    FORE HOPE INC
    1169 DUBLIN ROAD
    COLUMBUS,OH43215     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    MIDDLEBURG HUMANE FOUNDATION
    PO BOX 1238
    MIDDLEBURG,VA20118     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 2,500
    STOKES COUNTY ARTS COUNCIL
    500 NORTH MAIN STREET
    DANBURY,NC27016     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    SALVATION ARMY
    307 WEST LEE STREET
    GREENSBORO,NC27406     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 15,000
    PROMUSICA CHAMBER ORCHESTRA
    243 NORTH FIFTH STREET SUITE 202
    COLUMBUS,OH43215     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 2,500
    PRAIRIE BIOTIC RESEARCH
    PO BOX 5424
    MADISON,WI53705     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    NORTHERN VIRGINIA THERAPEUTIC RIDIN
    PO BOX 184
    CLIFTON,VA20124     		NONE 509(a)(2) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 25,000
    NC ZOOLOGICAL SOCIETY
    4403 ZOO PARKWAY
    ASHEBORO,NC27205     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    NATIONAL MULTIPLE SCLEROSIS SOCIETY
    2211 WEST MEADOWVIEW ROAD SUITE 30
    GREENSBORO,NC27407     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    KENAN-FLAGLER BUSINESS SCHOOL
    CAMPUS BOX 3490 MCCOLL BUILDING
    CHAPEL HILL,NC27599     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 12,500
    CAROLINA THEATRE OF GREENSBORO
    310 SOUTH GREENE STREET
    GREENSBORO,NC27401     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    AVERETT COLLEGE
    420 WEST MAIN STREET
    DANVILLE,VA24541     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    AIRLIFT HOPE OF NC
    215 WILBUR STREET
    WARSAW,NC29398     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    WINDY HILL FOUNDATION INC
    PO BOX 1593
    MIDDLEBURG,VA20117     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 25,000
    UNIVERSITY OF NC AT GREENSBORO
    1400 SPRING GARDEN STREET
    GREENSBORO,NC27412     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 35,000
    SOUTHERN ENVIRONMENTAL LAW CENTER
    201 WEST MAIN STREET STE 14
    CHARLOTTESVILLE,VA22902     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 25,000
    UNITED WAY OF GREATER GREENSBORO
    1500 YANCEYVILLE ST
    GREENSBORO,NC27405     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 7,500
    SHENANDOAH VALLEY BATTLEFIELDS FDTN
    PO BOX 897
    NEW MARKET,VA22844     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 20,000
    SUMMIT EDUCATIONAL FOUNDATION INC
    PO BOX 268
    SUMMIT,NJ07902     		NONE 509(a)(3) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 41,500
    RURAL ADVANCEMENT FOUNDATION
    PO BOX 640
    PITTSBORO,NC27312     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 48,000
    BELL BUCKLE UNITED METHODIST CHURCH
    704 WALKER RD
    BEECH GROVE,TN37018     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    THE INITIATIVE TO EDUCATE AFGAN WOM
    108 EAST 91ST ST
    NEW YORK,NY10128     		NONE 509(a)(2) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    RAVENSCROFT SCHOOL INC
    7409 FALLS OF NEUSE ROAD
    RALEIGH,NC27615     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 30,000
    THE PLAINS VOLUNTEER FIRE COMPANY
    PO BOX 93
    THE PLAINS,VA20198     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 2,500
    LYCEE FRANCAIS DE NEW YORK
    505 EAST 75TH STREET
    NEW YORK,NY10021     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 25,000
    ROCK AND ROLL HALL OF FAME AND MUSE
    1100 ROCK ROLL BLVD
    CLEVELAND,OH44114     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 30,000
    FRIENDS OF B'NAI ABRAHAM
    1788 MARYLAND AVENUE NORTH
    GOLDEN VALLEY,MN55427     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 21,390
    DENVER KIDS INC
    1330 FOX STREET 2ND FLOOR SOUTH
    DENVER,CO80204     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 30,000
    CONSORT MUSIC INC
    PO BOX 1913
    NEW YORK,NY10159     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    VIRGINIA EASTERN SHORE LAND TRUST
    PO BOX 1114
    EXMORE,VA23350     		NONE 509(a)(2) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 30,000
    WOODBERRY FOREST SCHOOL
    117 WOODBERRY STATION
    WOODBERRY FOREST,VA22989     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 17,000
    FOXCROFT SCHOOL
    PO BOX 5555
    MIDDLEBURG,VA20118     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 50,000
    NORWALK COMMUNITY - TECHICAL COLLEG
    188 RICHARDS AVE
    NORWALK,CT06825     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 10,000
    PIEDMONT ENVIROMENTAL COUNCIL
    PO BOX 460
    WARRENTON,VA20188     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    OHIO STATE UNIVERSITY FOUNDATION
    216 HOWLETT HALL
    COLUMBUS,OH43210     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 23,000
    COALITION FOR THE UPPER SOUTH PLATT
    PO BOX 726
    LAKE GEORGE,CO80827     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 40,000
    AQUA ALIVE INC
    219 EMILY LANE
    BELL BUCKLE,TN37020     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 15,000
    BERKSHIRE COUNTRY DAY SCHOOL
    PO BOX 867
    LENOX,MA01240     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 48,000
    ASHEVILLE SCHOOL INC
    360 ASHEVILLE SCHOOL RD
    ASHEVILLE,NC28806     		NONE 509(a)(1) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 25,000
    UNITED ARTS COUNCIL OF GREATER GSO
    200 N DAVIE STREET
    GREENSBORO,NC27401     		NONE 509(a)(2) THE PURPOSE OF EACH GRANT IS TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. 5,000
    Total .................................bullet 3a 1,107,890
    bApproved for future payment
    Total ..................................bullet 3b  
    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     14 115  
    4 Dividends and interest from securities....     14 186  
    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..... 532000 102,613 16 723,821  
    8Gain or (loss) from sales of assets other than inventory          
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 102,613 724,122  
    13Total. Add line 12, columns (b), (d), and (e)...................
    13826,735
    (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: 10000105
    Software Version: 2010v3.2


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    OMB No. 1545-0047
    2010
    Name of organization
    HILLSDALE FUND INC
     
    Employer identification number

    56-6057433
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule—
    Special Rules
    ......................... Arrow Bullet   $    
    Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
    Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part I
    Name of organization
    HILLSDALE FUND INC
          		Employer identification number

    56-6057433
    Part I
    Contributors (see Instructions)
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
    1
     
     

    L RICHARDSON JR CH LEAD TR    
    P O BOX 20124
       
    GREENSBORO, NC   27420

    		$19,436




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part II
    Name of organization
    HILLSDALE FUND INC
          		Employer identification number

    56-6057433
    Part II
    Noncash Property (see Instructions)
    		     
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part III
    Name of organization
    HILLSDALE FUND INC
          		Employer identification number

    56-6057433
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Additional Data


    Software ID: 10000105
    Software Version: 2010v3.2

    TY 2010 ContractorCompensationExpln
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Contractor Explanation
    PIEDMONT FINANCIAL TRUST COMPANY ACCOUNTING AND GRANT ADMINISTRATION SERVICES

    TY 2010 EmployeeCompensationExpln
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Employee Explanation
    MARY SCOTT  

    TY 2010 GeneralExplanationAttachment
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Identifier Return Reference Explanation
        FORM 990 - PFPART I. ANALYSIS OF REVENUE & EXPENSES LINE 3. INTEREST ON SAVINGS AND TEMPORARY CASH INVESTMENTS (A)REVENUE & EXPENSES (B) NET INVESTMENT PER BOOKS INCOME INTEREST - IRS 88.00 88.00 TOTAL LINE 3 88.00 88.00 LINE 4. DIVIDENDS AND INTEREST FROM SECURITIES TAX EXEMPT INTEREST - NT 152.00 0.00 US DIVIDENDS - NORTHERN TRUST 34.00 34.00 PIEDMONT ASSOCIATES INVESTMENT FUND LLC K-1 INTEREST 0.00 87,729.00 DIVIDENDS 0.00 433,946.00 PIEDMONT SOUTHEASTERN INVESTMENT FUND LLC K-1 DIVIDENDS 0.00 40,376.00 TOTAL LINE 4 0.00 562,085.00 PART IV. CAPITAL GAINS AND LOSSES FOR TAX ON INVESTMENT INCOME LINE 2. CAPITAL GAIN NET INCOME OR (NET CAPITAL LOSS) PIEDMONT ASSOCIATES INVESTMENT FUND LLC K-1 NET SHORT TERM CAPITAL GAIN (LOSS) 274,694.00 NET SHORT TERM SECTION 1256 (4,862.00) NET LONG TERM CAPITAL GAIN (LOSS) 656,427.00 NET LONG TERM SECTION 1256 (7,294.00) NET SECTION 1231 GAIN(LOSS) (1,256.00) NET SECTION 1250 GAIN(LOSS) 25.00 NET COLLECTIBLES 28% GAIN(LOSS) 1,082.00 PIEDMONT SOUTHEASTERN INVESTMENT FUND LLC K-1 NET LONG TERM CAPITAL GAIN(LOSS) 4,092.00 TOTAL 2010 NET CAPITAL GAIN (LOSS) $ 922,908.00

    TY 2010 OtherAssetsSchedule
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PIEDMONT SOUTHEASTERN INVT FUND LLC 1,527,687 1,016,147 1,087,866
    PIEDMONT ASSOCIATES INVESTMENT FUND LLC 23,069,027 23,373,111 28,170,671


    TY 2010 OtherDecreasesSchedule
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Description Amount
    DISTRIBUTIONS-PIEDMONT SOUTHEASTERN INVESTMENT FUND 53,320
    DISTRIBUTIONS-PIEDMONT ASSOCIATES INVESTMENT FUND 773,114


    TY 2010 OtherExpensesSchedule
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    RETIREMENT PLAN MAINTENANCE 75     75
    PAYROLL TAXES 5,660     5,660
    OFFICE SUPPLIES & EQUIPMENT 1,331     1,331
    INVESTMENT & ADVISOR FEES-PSIF   2,688    
    INVESTMENT & ADVISOR FEES-PAIF   297,697    
    INSURANCE 5,944     5,944
    COMPUTER SERVICES 1,399     1,399
    ACCTG,CHARITABLE & GRANT ADMINISTRATION 129,110 96,832   32,278


    TY 2010 OtherIncomeSchedule2
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Other Investment Income 826,434 6,154  


    TY 2010 OtherIncreasesSchedule
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Description Amount
    PIEDMONT SOUTHEASTERN INVESTMENT FUND K-1 ADJUSTMENTS 41,780
    PIEDMONT ASSOCIATES INVT FUND K-1 ADJUSTMENTS 1,077,201


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK CUSTODY FEES 401 401 0 0


    TY 2010 TaxesSchedule
    Name:
    HILLSDALE FUND INC
    EIN: 56-6057433
    Software ID:10000105
    Software Version:2010v3.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    US TREASURY 3,401      
    FOREIGN TAXES PAID   20,655