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
ROSTAN FAMILY FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)POST OFFICE BOX 970   Room/suite
City or town, state, and ZIP code
VALDESE, NC286900970
A Employer identification number

56-1901626
B Telephone number (see page 10 of the instructions)

(828) 874-7000
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$6,452,313J 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 9 9  
4 Dividends and interest from securities...... 175,166 175,166  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 445,159
b Gross sales price for all assets on line 6a 2,730,810
7 Capital gain net income (from Part IV, line 2)... 362,451
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 1,454 1,454  
12 Total. Add lines 1 through 11........ 621,788 539,080  
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 4,000 4,000   0
c Other professional fees (attach schedule).... Click to see attachment 46,974 46,974   0
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 4,473 0   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 188 188   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 55,635 51,162   0
25 Contributions, gifts, grants paid........ 274,000 274,000
26 Total expenses and disbursements. Add lines 24 and 25 329,635 51,162   274,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 292,153
b Net investment income (if negative, enter -0-) 487,918
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...............      
2 Savings and temporary cash investments.......... 19,889 23,646 23,646
3 Accounts receivable bullet2,300
Less: allowance for doubtful accounts bullet   704 2,300 2,300
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) 695,744 Click to see attachment695,744 718,812
b Investments—corporate stock (attach schedule)........ 4,530,683 Click to see attachment4,690,744 5,421,003
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)........... 159,813 Click to see attachment286,552 286,552
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) 5,406,833 5,698,986 6,452,313
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 5,406,833 5,698,986
30 Total net assets or fund balances (see page 17 of the
instructions).................... 5,406,833 5,698,986
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 5,406,833 5,698,986
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 5,406,833
2 Enter amount from Part I, line 27a...................... 2 292,153
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 5,698,986
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 5,698,986
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 APACHE CORPORATION P 2010-07-02 2010-12-23
b AVERY DENNISON CORP P 2010-03-24 2010-08-05
c BARRICK GOLD CORP COM P 2010-02-03 2010-07-01
d BAXTER INTERNATIONAL INCORPORATED P 2010-09-27 2010-11-04
e BB&T INTER US GOVT BD FD TR SHS P 2009-10-05 2010-03-24
CAMPBELL SOUP COMPANY P 2009-10-26 2010-06-14
COCA COLA COMPANY P 2010-06-14 2010-12-23
CORNING INC P 2009-07-02 2010-01-08
DODGE & COX INCOME FUND P 2009-12-29 2010-03-24
DU PONT E I DE NEMOURS & COMPANY P 2009-03-03 2010-02-03
EBAY INC P 2010-01-08 2010-04-12
EDISON INTERNATIONAL P 2009-06-17 2010-02-12
EMERSON ELECTRIC P 2009-10-21 2010-02-18
EXELON CORP COM P 2009-08-19 2010-02-12
EXXON MOBIL CORPORATION P 2010-01-04 2010-05-26
FEDERATED MORTGAGE INSTITUTIONAL CLASS P 2009-12-30 2010-09-24
FRONTIER COMMUNICATIONS CORP P 2010-07-01 2010-07-23
FRONTIER COMMUNICATIONS CORP P 2010-07-01 2010-08-05
GENUINE PARTS CO P 2009-10-26 2010-03-24
GENUINE PARTS CO P 2009-09-18 2010-04-15
ISHARES LEHMAN CREDIT BOND FUND P 2010-03-29 2010-06-14
I-SHARES SILVER TRUST P 2009-08-07 2010-01-19
I-SHARES SILVER TRUST P 2009-08-07 2010-02-03
I-SHARES SILVER TRUST P 2009-08-07 2010-03-24
I-SHARES SILVER TRUST P 2009-08-07 2010-12-31
KROGER CO P 2010-01-19 2010-09-22
MERCK & CO INC P 2009-12-29 2010-01-08
MERCK & CO INC P 2009-12-29 2010-03-24
METLIFE INC P 2009-12-14 2010-09-22
MONSANTO CO P 2010-05-26 2010-06-14
MONSANTO CO P 2009-10-21 2010-07-02
NOKIA CORP P 2010-02-12 2010-11-04
NUCOR CORPORATION P 2010-02-03 2010-05-26
PALL CORP P 2010-03-24 2010-10-01
PALL CORP P 2010-03-24 2010-12-23
QUALCOMM INC P 2010-03-24 2010-08-05
QUALCOMM INC P 2010-03-24 2010-10-01
STAPLES INC P 2009-03-03 2010-01-08
STAPLES INC P 2009-03-03 2010-02-03
STATE STREET CORP P 2010-04-15 2010-12-23
SUNCOR ENERGY, INC P 2010-03-29 2010-07-02
SYSCO CORP P 2009-08-19 2010-01-08
SYSCO CORP P 2009-08-19 2010-03-24
US BANCORP P 2009-03-03 2010-02-03
VANGUARD GNMA FUND P 2009-09-18 2010-01-19
ABB LTD SPONSORED ADR P 2008-10-14 2010-03-24
ANADARKO PETROLEUM CORP P 2005-08-03 2010-03-24
ANADARKO PETROLEUM CORP P 2009-03-06 2010-05-10
APPLIED MATERIALS P 2009-03-03 2010-06-14
AVERY DENNISON CORP P 2010-03-29 2010-08-05
AVERY DENNISON CORP P 2009-03-03 2010-11-04
BAXTER INTERNATIONAL INC P 2009-07-02 2010-11-04
BERKSHIRE HATHAWAY INC DEL CL B P 2009-03-06 2010-10-01
CHEVRONTEXACO CORP P 2007-02-20 2010-10-01
CONOCOPHILLIPS COM P 2009-07-08 2010-11-04
CONOCOPHILLIPS COM P 1995-09-07 2010-12-23
DISNEY WALT COMPANY P 2004-08-23 2010-01-08
DU PONT E I DE NEMOURS & COMPANY P 2006-12-18 2010-02-03
DUKE ENERGY CORP P 2007-08-31 2010-03-24
EMERSON ELECTRIC P 2008-10-23 2010-01-08
EMERSON ELECTRIC P 2003-10-07 2010-02-03
EMERSON ELECTRIC P 2003-10-07 2010-02-18
EOG RESOURCES INC P 2001-07-11 2010-03-24
GENERAL ELECTRIC CO P 2009-02-04 2010-07-02
ISHARES LEHMAN CREDIT BOND FUND P 2009-06-12 2010-06-14
LOWES COMPANIES P 1994-03-31 2010-05-10
MICROSOFT CORPORATION P 2002-09-04 2010-01-08
MONSANTO CO P 2009-03-06 2010-07-02
ORACLE CORPORATION P 2009-03-03 2010-09-22
PIEDMONT NATURAL GAS P 1993-03-31 2010-03-24
POWERSHARES GLOBAL WATER PORTFOLIO P 2007-07-25 2010-03-24
PROCTER AND GAMBLE P 2006-08-21 2010-01-08
STAPLES INC P 2009-01-30 2010-02-03
STATE STREET CORP P 2009-12-14 2010-12-23
SUNCOR ENERGY, INC P 2009-07-02 2010-09-22
SYSCO CORP P 2009-03-03 2010-03-24
TEXAS INSTRUMENTS P 1996-01-10 2010-03-24
THE TRAVELERS COMPANIES INC P 2005-05-09 2010-07-02
TRANSOCEAN LTD P 2009-03-06 2010-07-02
VODAFONE GROUP PLC NEW SP ADR P 2009-06-12 2010-08-05
WELLPOINT INC P 2005-05-12 2010-04-12
WELLPOINT INC P 2009-03-06 2010-06-14
APACHE CORPORATION P 2009-03-03 2009-12-29
BANK OF AMERICA CORP P 2009-01-30 2009-12-29
TARGET P 2009-03-03 2009-12-29
APACHE CORPORATION P 2008-09-26 2009-12-29
BANK OF AMERICA CORP P 2008-01-23 2009-12-29
EOG RESOURCES INC P 2001-07-11 2009-12-29
LOWES COMPANIES P 1994-03-31 2009-12-29
TARGET P 1996-10-01 2009-12-29
TEXAS INSTRUMENTS P 1996-01-10 2009-12-29
AMGEN INC P 2002-07-01 2009-12-29
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 11,814   8,278 3,536
b 21,783   21,176 607
c 37,783   31,526 6,257
d 28,260   27,695 565
e 3,715   3,733 -18
74,890   64,461 10,429
36,173   28,356 7,817
34,867   27,504 7,363
43,336   42,451 885
16,746   8,865 7,881
47,062   41,449 5,613
30,392   25,826 4,566
28,154   23,590 4,564
24,147   27,611 -3,464
23,432   27,860 -4,428
88,174   87,161 1,013
2   2 0
1,758   1,683 75
20,378   18,153 2,225
36,045   29,991 6,054
24,561   24,179 382
26,496   20,850 5,646
14,596   13,176 1,420
38,305   33,881 4,424
38   33 5
69,158   67,653 1,505
9,835   9,692 143
14,119   13,792 327
7,845   7,380 465
6,502   6,913 -411
2,786   4,522 -1,736
25,300   30,287 -4,987
32,941   32,074 867
12,442   11,916 526
34,798   27,804 6,994
29,309   30,590 -1,281
11,436   10,465 971
9,991   6,072 3,919
7,129   4,554 2,575
12,272   12,500 -228
49,555   52,215 -2,660
25,582   22,457 3,125
18,101   15,134 2,967
29,078   15,204 13,874
71,472   71,472 0
7,907   6,386 1,521
20,380   12,762 7,618
26,577   16,186 10,391
20,393   14,256 6,137
31,586   20,257 11,329
19,874   9,932 9,942
61,659   63,442 -1,783
25,637   18,632 7,005
57,453   40,253 17,200
79,390   26,700 52,690
10,035   2,537 7,498
34,019   22,395 11,624
50,239   70,254 -20,015
71,852   59,580 12,272
20,499   13,964 6,535
16,790   9,536 7,254
8,112   4,503 3,609
37,289   6,774 30,515
39,107   88,044 -48,937
64,474   60,858 3,616
111,500   116 111,384
37,465   54,314 -16,849
30,178   56,168 -25,990
8,701   4,864 3,837
13,243   1,130 12,113
34,940   42,503 -7,563
89,028   84,222 4,806
23,763   16,180 7,583
40,591   34,176 6,415
19,179   17,576 1,603
21,896   15,473 6,423
24,940   5,713 19,227
23,286   18,239 5,047
26,071   42,380 -16,309
63,241   50,331 12,910
33,170   36,279 -3,109
25,015   24,228 787
20,891   20,891 0
34,844   34,844 0
12,136   12,136 0
20,891   20,891 0
25,754   25,754 0
9,931   9,931 0
28,287   28,287 0
12,136   12,136 0
12,664   12,664 0
27,496   27,496 0
3,743     3,743
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       3,536
b       607
c       6,257
d       565
e       -18
      10,429
      7,817
      7,363
      885
      7,881
      5,613
      4,566
      4,564
      -3,464
      -4,428
      1,013
      0
      75
      2,225
      6,054
      382
      5,646
      1,420
      4,424
      5
      1,505
      143
      327
      465
      -411
      -1,736
      -4,987
      867
      526
      6,994
      -1,281
      971
      3,919
      2,575
      -228
      -2,660
      3,125
      2,967
      13,874
      0
      1,521
      7,618
      10,391
      6,137
      11,329
      9,942
      -1,783
      7,005
      17,200
      52,690
      7,498
      11,624
      -20,015
      12,272
      6,535
      7,254
      3,609
      30,515
      -48,937
      3,616
      111,384
      -16,849
      -25,990
      3,837
      12,113
      -7,563
      4,806
      7,583
      6,415
      1,603
      6,423
      19,227
      5,047
      -16,309
      12,910
      -3,109
      787
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      3,743
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 2 362,451
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 340,814 5,577,890 0.061101
2008 381,270 6,853,820 0.055629
2007 360,500 7,888,250 0.045701
2006 345,500 7,468,704 0.046260
2005 335,500 7,193,696 0.046638
2 Total of line 1, column (d) ...................... 2 0.255329
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 0.051066
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 6,126,554
5 Multiply line 4 by line 3....................... 5 312,859
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 4,879
7 Add lines 5 and 6......................... 7 317,738
8 Enter qualifying distributions from Part XII, line 4.............. 8 274,000
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 9,758
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 9,758
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 9,758
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 2,200
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 2,200
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 7,558
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 ofbulletJAMES H ROSTAN Telephone no.bullet (828) 874-7000
    Located atbulletPOST OFFICE BOX 970VALDESENC ZIP+4bullet28690
    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
    MRS JOHN P ROSTAN JR DIRECTOR/PRESIDENT
    5.00     		0 0 0
    PO BOX 970
    VALDESE,NC28690
    JAMES H ROSTAN VP/TREASURER
    10.00     		0 0 0
    PO BOX 970
    VALDESE,NC28690
    JOHN P ROSTAN III VP/SECRETARY
    10.00     		0 0 0
    PO BOX 970
    VALDESE,NC28690
    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
    4,208,479
    b
    Average of monthly cash balances.......................
    1b
    414,556
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    1,596,817
    d
    Total (add lines 1a, b, and c).........................
    1d
    6,219,852
    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
    6,219,852
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    93,298
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    6,126,554
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    306,328
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    306,328
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
    9,758
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    9,758
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    296,570
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4.............................
    5
    296,570
    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
    296,570
    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
    274,000
    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
    274,000
    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
    274,000
    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 7 296,570
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only....... 273,705
    b Total for prior years:20, 20, 20 0
    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......... 0
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$ 274,000
    a Applied to 2009, but not more than line 2a 273,705
    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..... 295
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		296,275
    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) .............     		0
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		0
    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).)
    MRS JOHN P ROSTAN JR
    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
    A CHILDS PLACE OF CHARLOTTE
    601 E FIFTH ST SUITE 130
    CHARLOTTE,NC28202     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 3,500
    AMERICAN WALDENSIAN SOCIETY
    208 RODORET ST S
    VALDESE,NC28690     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 12,000
    BLUE RIDGE HEALTHCARE FOUNDATION
    2201 S STERLING ST
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 12,000
    BURKE SUNRISE INC
    205 N KING ST
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 1,000
    BURKE UNITED CHRISTIAN MINISTRIES
    305B W UNION ST
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 10,000
    COMMUNITY FOUNDATION OF BURKE CO
    205 N KING ST
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 42,000
    COMMUNITY SCHOOL OF THE ARTS
    345 N COLLEGE ST SUITE 413
    CHARLOTTE,NC28202     		NONE 501(C)3 ORGANIZATION EDUCATIONAL 4,000
    E BURKE CHRISTIAN MINISTRIES
    103 3RD AVE SE
    HILDEBRAN,NC28637     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 5,000
    FIRST PRESBYTERIAN CHURCH
    100 SILVER CREEK RD
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 5,000
    GRACE EPISCOPAL CHURCH
    303 S KING STREET
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 5,000
    OPTIONS INC
    412 EAST MEETING ST
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 5,000
    PIEDMONT COUNCIL BSA
    1222 E FRANKLIN BLVD
    GASTONIA,NC28053     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 15,000
    ROCK SCHOOL ARTS FOUNDATION
    400 WEST MAIN ST
    VALDESE,NC28690     		NONE 501(C)3 ORGANIZATION EDUCATIONAL 3,000
    SALVATION ARMY
    420B W FLEMING DR
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 5,000
    THE OUTREACH CENTER
    510 E FLEMING DR
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 5,000
    TOWN OF VALDESE
    108 MASSEL AVE SW
    VALDESE,NC28690     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 7,000
    WESTERN PIEDMONT FOUNDATION
    1001 BURKEMONT AVE
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 30,000
    WISH PROGRAM
    500A SPRATT ST
    CHARLOTTE,NC28206     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 7,500
    SMART START
    304 W UNION ST
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION EDUCATIONAL 5,000
    STRATEGIC ALLIANCE FOR BURKE YOUTH INC
    300 MEETING ST
    MORGANTON,NC28655     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 10,000
    WALDENSIAN HERITAGE MUSEUM
    208 RODORET ST S
    VALDESE,NC28690     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 12,000
    WALDENSIAN PRESBYTERIAN CHURCH
    109 MAIN ST E
    VALDESE,NC28690     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 65,000
    WRIGHTSVILLE BEACH HISTORY MUSEUM
    303 W SALISBURY ST
    WRIGHTSVILLE BEACH,NC28480     		NONE 501(C)3 ORGANIZATION PHILANTHROPIC 5,000
    Total .................................bullet 3a 274,000
    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 9  
    4 Dividends and interest from securities....     14 175,166  
    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.....     14 1,454  
    8Gain or (loss) from sales of assets other than inventory     18 445,159  
    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).. 0 621,788 0
    13Total. Add line 12, columns (b), (d), and (e)...................
    13621,788
    (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:
    ROSTAN FAMILY FOUNDATION
    EIN: 56-1901626
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    DAVIDSON, HOLLAND, WHITESELL 4,000 4,000   0

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    ROSTAN FAMILY FOUNDATION
    EIN: 56-1901626
    Name of Stock End of Year Book Value End of Year Fair Market Value
    3M COMPANY 400 SHARES 28,389 34,520
    ABB LTD SPONS ADR 2330 SHARES 29,938 52,309
    ABBOTT LABS 1500 SHARES 50,858 71,865
    AMGEN INC. 0 SHARES 0 0
    ANADARKO PETE CORP 0 SHARES 0 0
    APACHE CORPORATION COMMON 570 SHARES 47,183 67,961
    APPLIED MATERIALS 0 SHARES 0 0
    AT&T INC 2400 SHARES 62,592 70,512
    AUTOMATIC DATA PROCESSING 1500 SHARES 60,467 69,420
    AVERY DENNINSON CORP 0 SHARES 0 0
    BANK OF AMERICA CORP 2110 SHARES 26,510 28,147
    BAXTER INTERNTL 460 SHARES 22,032 23,285
    BB&T 2000 SHARES 27,668 52,580
    BB&T INTER US GOVT CL I FND 12698 SHARES 131,864 133,449
    BERKSHIRE HATHAWAY INC DEL 190 SHARES 8,972 15,221
    CAMPBELL SOUP CO 0 SHARES 0 0
    CHEVRON CORP 300 SHARES 15,429 27,375
    CICSO SYSTEMS 4000 SHARES 75,149 80,920
    COMCAST CORP 4690 SHARES 85,336 103,039
    CONOCOPHILLIPS CO 250 SHARES 4,229 17,025
    CORNING INC 1680 SHARES 25,670 32,458
    DODGE & COX INC FND 13510.27 SHARES 166,581 178,747
    DUKE ENERGY CORP. 0 SHARES 0 0
    E.I. DUPONT DE NEMOURS 0 SHARES 0 0
    EDISON INTL COM 0 SHARES 0 0
    EMERSON ELECTRIC COMPANY 0 SHARES 0 0
    EOG RESOURCES 440 SHARES 38,799 40,220
    EXELON CORP 0 SHARES 0 0
    EXXON MOBILE CORP 820 SHARES 57,122 59,958
    FEDERATED HIGH YLD BND FND 3382.454 28,708 33,588
    FEDERATED MTG INST CL I 0 SHARES 0 0
    FIDELITY ADVISOR STRTGC INC 7102.533 SHARES 86,935 88,924
    GENERAL ELECTRIC COMPANY 5870 SHARES 38,262 52,492
    GENIUNE PARTS CO 0 SHARES 0 0
    HARBOR INTERNATIONAL FND 10,008.134 SHARES 620,259 605,993
    HEWLETT PACKARD CO 500 SHARES 13,580 21,050
    INTEL COMMON 3200 SHARES 44,292 67,296
    ISHARES LEHMAN CREDIT BND FND 0 SHARES 0 0
    ISHARES MSCI EMERGING MARKETS INDEX 1500 SHARES 25,802 71,463
    ISHARES RUSSELL 2000 INDEX FND 3000 SHARES 217,005 234,720
    ISHARES SILVER TRUST 0 SHARES 0 0
    JOHNSON & JOHNSON 2000 SHARES 110,663 123,700
    KRAFT FOODS INC 2870 SHARES 97,303 90,434
    LOWES COMPANIES, INC. 0 SHARES 0 0
    MEDTRONIC, INC., 1500 SHARES 67,235 55,635
    MERCK & CO INC 2616 SHARES 76,951 94,281
    METLIFE INC 1260 SHARES 46,494 55,994
    MICROSOFT 3770 SHARES 96,902 105,221
    MONSANTON CO COMMON 0 SHARES 0 0
    ORACLE SYS CORP 680 SHARES 10,336 21,284
    PEPSICO 1500 SHARES 84,365 97,995
    PIEDMONT NATURAL GAS, INC. 3510 SHARES 5,281 98,140
    PIMCO FOREIGN BOND FUND 4348.706 SHARES 42,246 45,357
    POWERSHARES GLOBAL WATER 0 SHARES 0 0
    PROCTER & GAMBLE 420 SHARES 23,036 27,019
    SOUTHERN COMPANY 850 SHARES 1,668 32,495
    STAPLES INC 0 SHARES 0 0
    STATE STREET CORP 360 SHARES 14,306 16,682
    SUNCOR ENERGY 740 SHARES 21,659 28,335
    SYSCO CORP 0 SHARES 0 0
    T ROWE PRICE INSTITNL 4699.942 SHARES 43,420 45,072
    TARGET 0 SHARES 0 0
    TEXAS INSTRUMENTS 620 SHARES 16,238 20,150
    THE TRAVELERS CO 460 SHARES 17,479 25,627
    THE WALT DISNEY COMPANY 2230 SHARES 42,940 83,647
    TRANSOCEAN LTD COMMON 0 SHARES 0 0
    UNILEVER PLC SPONS ADR 1160 SHARES 28,281 35,821
    US BANCORP 0 SHARES 0 0
    VANGUARD GNMA FUND #36 0 SHARES 0 0
    VODAFONE GROUP 1210 SHARES 23,068 31,992
    WAL-MART STORES 1320 SHARES 66,923 71,188
    WELLS FARGO & CO 2200 SHARES 66,797 68,178
    WELPOINT INC 0 SHARES 0 0
    ADOBE SYSTEM INC 2130 SHARES 56,818 65,561
    ALCOA INC COMMON 4020 SHARES 59,426 61,868
    AMERICAN CENTURY DIVERSIFIED 4312 SHARES 47,687 46,394
    AMERICAN EXPRESS COMPANY 460 SHARES 17,782 19,743
    AON CORPORATION 400 SHARES 18,323 18,404
    APPLE COMPUTER CORP 150 SHARES 37,500 48,384
    BB&T TOTAL RETURN BOND 8247 SHARES 89,643 89,643
    CENOVUS ENERGY INC 410 SHARES 12,087 13,628
    COCA COLA CO 240 SHARES 12,374 15,785
    COVIDIEN PLC 660 SHARES 25,229 30,136
    DELL INC COMMON 5280 SHARES 69,070 71,544
    DOLE FOOD COMPANY INC 7230 SHARES 66,705 97,677
    FEDERATED INTERMEDIATE CORP BOND 8567.778 SHARES 84,821 86,363
    FEDEX CORPORATION 150 SHARES 12,688 13,952
    GILEAD SCIENCES, INC 1000 SHARES 36,542 36,240
    INTERNATIONAL PAPER COMPANY 530 SHARES 13,067 14,437
    ITRON INC 630 SHARES 34,594 34,934
    JP MORGAN CHASE & CO 1270 SHARES 56,870 53,873
    L3 COMMUNICATIONS HOLDINGS INC 500 SHARES 35,830 35,245
    LOCKHEED MARTIN CORP 790 SHARES 60,817 55,229
    METROPOLITAN WEST TOTAL RETURN BOND 4408.271 SHARES 46,904 45,714
    MORGAN STANLEY 1380 SHARES 37,651 37,550
    NEXTERA ENERGY INC 1160 SHARES 56,929 60,308
    NOVARTIS A G ADR 640 SHARES 34,281 37,728
    PIMCO LOW DURATION FUND 8447.206 SHARES 87,682 87,766
    PFIZER INC COMMON 3390 SHARES 61,393 59,359
    SCHLUMBERGER LTD 1090 SHARES 68,776 91,015
    SOUTHWEST AIRLINES 7900 SHARES 103,270 102,542
    STRYKER CORP 270 SHARES 12,905 14,499
    TEVA PHARMACEUTICAL INDS 580 SHARES 33,627 30,235
    TYCO ELECTRONICS LTD 2360 SHARES 68,342 83,544
    TYCO INTERNATIONAL LTD 1580 SHARES 58,652 65,475
    UTILITIES SELECT SECTOR SPDR 970 SHARES 27,769 30,400
    VERIZON 980 SHARES 25,481 35,064
    WEATHERFORD INTL LTD 5350 SHARES 75,987 121,980

    TY 2010 InvestmentsGovtObligationsSch
    Name:
    ROSTAN FAMILY FOUNDATION
    EIN: 56-1901626
    US Government Securities - End of Year Book Value:

    695,744
    US Government Securities - End of Year Fair Market Value:

    718,812
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2010 InvestmentsOtherSchedule2
    Name:
    ROSTAN FAMILY FOUNDATION
    EIN: 56-1901626
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BB&T PRIME MNY MKT FUND AT COST 286,552 286,552

    TY 2010 OtherExpensesSchedule
    Name:
    ROSTAN FAMILY FOUNDATION
    EIN: 56-1901626
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MISC ADMINISTRATIVE EXPENSE 119 119   0
    OTHER DEDUCTIONS 69 69   0


    TY 2010 OtherIncomeSchedule2
    Name:
    ROSTAN FAMILY FOUNDATION
    EIN: 56-1901626
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    BB&T INVESTMENTS 1,454 1,454 1,454


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    ROSTAN FAMILY FOUNDATION
    EIN: 56-1901626
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BB&T ASSET MANAGEMENT 46,464 46,464   0
    ASSOCIATION DUES 495 495   0
    BANK SERVICE FEE 15 15   0


    TY 2010 TaxesSchedule
    Name:
    ROSTAN FAMILY FOUNDATION
    EIN: 56-1901626
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX AND ESTIMATES 2,200 0   0
    FOREIGN TAX PAID 1,847 0   0
    PRIOR YEAR EXCISE TAX PAYMENT 426 0   0