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
2011
For calendar year 2011, or tax year beginning 01-01-2011 , and ending 12-31-2011
G
Check all that apply:
Name of foundation
BAILEY ENDOWMENT INC
 

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 208   Room/suite
City or town, state, and ZIP code
SHELBY, NC281510208
A Employer identification number

56-1802700
B Telephone number (see page 10 of the instructions)

(704) 487-8888
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$1,331,801J 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) 20,000
2 Check bullet
3 Interest on savings and temporary cash investments 1,400 1,400 1,400
4 Dividends and interest from securities...... 45,857 45,857 45,857
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 41,226
b Gross sales price for all assets on line 6a 1,680,562
7 Capital gain net income (from Part IV, line 2)... 42,055
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 928   928
12 Total. Add lines 1 through 11........ 109,411 89,312 48,185
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
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 2,975      
c Other professional fees (attach schedule).... Click to see attachment 17,939 17,939    
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 4,254 2,895    
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 591 524    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 25,759 21,358   0
25 Contributions, gifts, grants paid........ 71,200 71,200
26 Total expenses and disbursements. Add lines 24 and 25 96,959 21,358   71,200
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 12,452
b Net investment income (if negative, enter -0-) 67,954
c Adjusted net income (if negative, enter -0-)... 48,185
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2011)
Form 990-PF (2011)
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.......... 53,667 114,317 114,317
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........... 12,813 11,454 12,813
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 1,222,336 Click to see attachment1,175,566 1,178,665
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)........... 26,075 Click to see attachment26,006 26,006
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) 1,314,891 1,327,343 1,331,801
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.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 1,314,891 1,327,343
30 Total net assets or fund balances (see page 17 of the
instructions).................... 1,314,891 1,327,343
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 1,314,891 1,327,343
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 1,314,891
2 Enter amount from Part I, line 27a..................... 2 12,452
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 1,327,343
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 1,327,343
Form 990-PF (2011)
Form 990-PF (2011)
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 BANCO BRADESCO P 2011-02-18 2011-02-18
b ISHARES MSCI EMERGING MKTS INDEX FD P 2006-03-28 2011-02-23
c SONY CORP P 2006-12-28 2011-04-12
d CHUBB CORP P 2011-09-16 2011-10-27
e KROGER CO P 2011-09-16 2011-11-23
QUALCOMM INC P 2011-03-16 2011-09-09
BANK OF NOVA SCOTIA SEDOL P 2009-09-15 2011-09-09
EMERSON ELEC CO P 2010-05-07 2011-09-09
ORACLE CORP P 2007-11-14 2011-09-09
VALE P 2007-08-27 2011-09-09
ADOBE SYS P 2010-05-11 2011-06-16
ISHARES MSCI EMERGING MKTS INDEX FD P 2006-12-28 2011-02-23
TARGET CORP P 2008-12-11 2011-03-18
CHUBB CORP P 2011-09-16 2011-11-21
MEDTRONIC INC P 2011-05-18 2011-09-09
SANOFI P 2011-03-02 2011-09-09
BASF P 2006-03-23 2011-09-09
FREEPORT COPPER & GOLD INC P 2007-03-27 2011-09-09
PNC BANK INC P 2010-04-12 2011-09-09
WAL MART STORES INC P 2008-05-22 2011-08-26
ANADARKO PETE CORP P 2006-03-28 2011-05-18
ISHARES MSCI EMERGING MKTS INDEX FD P 2007-02-05 2011-02-23
TRANSOCEAN LTD P 2008-12-19 2011-04-27
CNOOC LTD P 2020-11-19 2011-09-09
MONMOUTH REAL ESTATE INVT CORP P 2011-09-16 2011-10-19
SPECTRA ENERGY GROUP P 2011-09-16 2011-10-27
BHP LTD P 2011-01-28 2011-09-09
GENERAL ELEC CO P 2008-03-18 2011-08-26
PPG INDUSTRIES INC P 2011-01-28 2011-09-09
WELLS FARGO CO P 2010-08-06 2011-09-09
CREDIT SUISSE GP P 2005-06-30 2011-02-22
HONEYWELL INTL INC P 2006-03-24 2011-02-22
ABBOTT LABS P 2011-02-14 2011-09-09
EXXON MOBIL CORP P 2011-02-23 2011-09-09
MONMOUTH REAL ESTATE INVT CORP P 2011-09-16 2011-10-20
TIME WARNER INC P 2011-06-29 2011-09-09
BHP LTD P 2006-03-24 2011-09-09
GLAXO WELCOME PLLC P 2006-03-22 2011-09-09
PPG INDUSTRIES INC P 2009-03-27 2011-09-09
MICROSOFT CORP P 2008-03-18 2011-09-09
CREDIT SUISSE GP P 2006-03-27 2011-02-22
HEWLETT PACKARD CO P 2007-11-15 2011-02-24
ALASKA COMMUNICATIONS SYS GROUP INC P 2011-09-16 2011-10-10
EXXON MOBIL CORP P 2011-09-16 2011-10-27
MONMOUTH REAL ESTATE INVT CORP P 2011-09-16 2011-10-21
EXXON MOBIL CORP P 2011-02-23 2011-09-09
BNP PARIBAS P 2008-02-22 2011-09-09
HONDA MTR LTD P 2008-12-11 2011-09-09
PROCTOR & GAMBLE CO P 2008-04-21 2011-09-09
UNILEVER P 2008-03-20 2011-09-09
CARNIVAL CORP P 2009-06-11 2011-03-08
MICROSOFT CORP P 2008-03-18 2011-02-22
ALASKA COMMUNICATIONS SYS GROUP INC P 2011-09-16 2011-10-11
GENERAL ELEC CO P 2011-04-07 2011-08-26
MONMOUTH REAL ESTATE INVT CORP P 2011-09-16 2011-10-24
PFIZER INC P 2011-03-14 2011-09-09
BOEING CO P 2010-06-25 2011-09-09
HONEYWELL INTL INC P 2011-01-28 2011-09-09
RIO TINTO PLC P 2006-03-24 2011-09-09
ROUNDING P 2011-09-09 2011-09-09
CATERPILLAR INC P 2006-03-28 2011-02-22
OCCIDENTAL PETE CORP P 2006-03-24 2011-05-18
ALASKA COMMUNICATIONS SYS GROUP INC P 2011-09-16 2011-10-11
GLAXO WELCOME PLLC P 2011-04-08 2011-09-09
MOSAIC CO P 2010-11-18 2011-09-09
ABB LTD P 2011-01-28 2011-09-09
CATERPILLAR INC P 2011-01-28 2011-09-09
HONEYWELL INTL INC P 2006-03-24 2011-09-09
ROCHE HLDG LTD P 2008-06-03 2011-09-09
CATERPILLAR INC P 2006-03-28 2011-05-17
ORACLE CORP P 2007-11-14 2011-02-22
ALASKA COMMUNICATIONS SYS GROUP INC P 2011-09-16 2011-10-12
GOOGLE INC P 2011-05-17 2011-09-09
NATIONAL-OILWELL INC P 2010-11-18 2011-09-09
ABB LTD P 2007-12-08 2011-09-09
CATERPILLAR INC P 2007-02-05 2011-09-09
INTEL CORP P 2008-01-30 2011-09-09
SCHLUMBERGER LTD P 2011-01-28 2011-09-09
CISCO SYSTEMS INC P 2007-08-27 2011-04-27
PPG INDUSTRIES INC P 2009-03-27 2011-02-22
ALLERGAN INC P 2011-05-18 2011-09-09
HALLIBURTON CO P 2011-06-16 2011-09-09
NETAPP INC P 2011-03-21 2011-09-09
AMERICA MOVIL P 2008-01-30 2011-09-09
CENOVUS ENERGY INC P 2009-03-28 2011-09-09
MICROSOFT CORP P 2011-01-28 2011-09-09
SCHLUMBERGER LTD P 2008-04-21 2011-09-09
CISCO SYSTEMS INC P 2008-04-21 2011-04-27
PETROLEO BRAS P 2008-01-28 2011-04-13
AMAZON.COM INC P 2011-02-11 2011-09-09
HARTFORD FINANCIAL SVCS GRP P 2011-09-16 2011-12-13
PFIZER INC P 2011-03-14 2011-09-09
ANADARKO PETE CORP P 2006-03-28 2011-09-09
CHEUNG KONG HLDGS LTD P 2011-01-28 2011-09-09
MICROSOFT CORP P 2008-03-18 2011-09-09
SIEMENS P 2006-03-27 2011-09-09
FREEPRT-MCMRAN CPR & GLD P 2006-03-27 2011-05-17
J C PENNEY CO P 2009-06-01 2011-02-07
AMERICAN CAMPUS CMNTYS INC P 2011-09-16 2011-10-19
HARTFORD FINANCIAL SVCS GRP P 2011-09-16 2011-12-14
POTLATCH CORP P 2011-09-16 2011-10-19
ANGLO AMERN PLC P 2006-06-20 2011-09-09
CHEUNG KONG HLDGS LTD P 2007-08-28 2011-09-09
MITSUBISHI UFJ FINANCIAL P 2011-08-10 2011-09-09
TIFFANY & CO P 2009-06-11 2011-09-09
FREEPRT-MCMRAN CPR & GLD P 2006-03-27 2011-05-17
PANASONIC CORP P 2005-06-30 2011-02-08
AMERICAN CAMPUS CMNTYS INC P 2011-09-16 2011-10-20
HITACHI LTD P 2011-03-16 2011-09-09
POTLATCH CORP P 2011-09-16 2011-10-20
APPLIED MATLS INC P 2010-05-12 2011-09-09
CREDIT SUISSE GP P 2006-03-27 2011-08-26
MITSUBISHI UFJ FINANCIAL P 2006-03-22 2011-09-09
TIME WARNER INC P 2009-06-10 2011-09-09
FORTUNE BRANDS INC P 2009-04-07 2011-02-23
PANASONIC CORP P 2006-03-31 2011-02-08
BANCO BRADESCO P 2010-11-03 2011-09-09
ILLINOIS TOOL WKS INC P 2011-09-16 2011-12-06
POTLATCH CORP P 2011-09-16 2011-10-21
AXA P 2006-03-22 2011-09-09
DEERE & CO P 2009-06-01 2011-09-09
NESTLE P 2008-06-03 2011-09-09
UNILEVER P 2008-03-20 2011-09-09
FORTUNE BRANDS INC P 2009-04-07 2011-02-23
SIEMENS P 2005-06-30 2011-02-22
CENTURYTEL INC P 2011-09-16 2011-10-27
INTERNATIONAL BUSINESS MACHINES P 2011-08-11 2011-09-09
POTLATCH CORP P 2011-09-16 2011-10-21
BAIDU INC P 2009-10-28 2011-09-09
DOVER CORP P 2009-04-13 2011-09-09
OCCIDENTAL PETE CORP P 2006-03-24 2011-09-09
UNION PAC CORP P 2009-06-10 2011-09-09
ISHARES MSCI EMERGING MKTS INDEX FD P 2006-03-28 2011-02-23
SIEMENS P 2006-03-27 2011-02-22
CHORUS LTD P 2011-09-16 2011-10-29
JOHNSON & JOHNSON P 2011-04-27 2011-09-09
POTLATCH CORP P 2011-09-16 2011-10-24
BANCO SANTANDER CENT HISPANO P 2000-11-10 2011-09-09
EMC CORP P 2007-11-14 2011-09-09
ORACLE CORP P 2011-01-28 2011-09-09
UNITED TECHNOLOGIES CORP P 2006-03-22 2011-09-09
(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 69   69  
b 10,086   7,766 2,320
c 8,144   11,884 -3,740
d 485   422 63
e 4,604   4,754 -150
14,182   14,474 -292
23,073   19,606 3,467
11,623   12,775 -1,152
20,960   16,373 4,587
17,394   15,591 1,803
12,109   13,488 -1,379
10,086   7,766 2,320
14,943   11,485 3,458
3,025   2,835 190
14,819   18,903 -4,084
24,667   26,453 -1,786
28,770   20,272 8,498
13,541   10,274 3,267
15,566   21,523 -5,957
17,169   18,253 -1,084
18,951   13,242 5,709
10,086   7,766 2,320
10,288   11,912 -1,624
16,437   21,078 -4,641
294   299 -5
382   342 40
3,125   3,488 -363
12,298   26,201 -13,903
5,132   5,826 -694
14,406   16,443 -2,037
4,145   4,061 84
6,514   4,908 1,606
24,308   22,536 1,772
24,006   28,983 -4,977
354   363 -9
3,828   4,700 -872
23,438   11,439 11,999
12,387   16,200 -3,813
18,330   9,185 9,145
2,780   2,780  
2,303   2,715 -412
16,053   18,520 -2,467
1,216   1,407 -191
3,431   3,124 307
377   379 -2
2,307   2,307  
6,653   17,144 -10,491
17,066   13,476 3,590
13,959   15,276 -1,317
5,166   5,166  
19,072   11,383 7,689
8,018   8,719 -701
137   158 -21
13,133   17,585 -4,452
1,540   1,525 15
6,286   6,286  
17,182   18,625 -1,443
2,713   3,319 -606
17,109   13,126 3,983
    10 -10
8,279   6,057 2,222
20,460   9,415 11,045
1,230   1,414 -184
13,419   14,243 -824
13,996   13,897 99
3,367   4,390 -1,023
5,097   5,741 -644
8,364   7,896 468
30,044   34,141 -4,097
16,313   12,114 4,199
9,878   6,140 3,738
1,058   1,199 -141
18,605   18,568 37
22,475   22,168 307
18,200   13,790 4,410
11,468   10,222 1,246
20,500   21,172 -672
4,391   5,200 -809
5,559   10,075 -4,516
8,779   3,674 5,105
18,193   19,161 -968
12,533   14,504 -1,971
10,713   14,704 -3,991
14,217   17,635 -3,418
9,858   6,962 2,896
3,089   3,330 -241
29,270   29,925 -655
14,112   20,467 -6,355
19,626   27,681 -8,055
28,009   24,371 3,638
1,371   1,599 -228
13,932   15,008 -1,076
16,886   12,224 4,662
2,050   2,693 -643
16,525   18,658 -2,133
26,841   27,010 -169
3,457   2,279 1,178
15,625   13,843 1,782
805   833 -28
862   1,021 -159
3,102   2,977 125
11,666   12,767 -1,101
11,849   13,214 -1,365
7,038   8,202 -1,164
31,581   12,799 18,782
10,790   7,440 3,350
3,547   3,638 -91
2,114   2,182 -68
11,945   12,621 -676
2,599   2,551 48
24,016   27,265 -3,249
13,240   27,153 -13,913
6,727   23,327 -16,600
12,222   10,230 1,992
25,876   13,666 12,210
11,041   18,362 -7,321
13,983   17,839 -3,856
2,444   2,395 49
1,019   981 38
7,906   21,164 -13,258
22,698   13,761 8,937
29,594   26,415 3,179
23,971   24,914 -943
4,566   4,577 -11
7,156   7,003 153
3,660   3,586 74
4,091   4,269 -178
476   458 18
26,431   7,055 19,376
20,900   12,579 8,321
20,392   11,768 8,624
22,925   14,118 8,807
25,776   19,845 5,931
3,253   2,251 1,002
7   8 -1
35,750   37,583 -1,833
1,148   1,079 69
10,333   19,428 -9,095
21,450   19,898 1,552
4,978   6,080 -1,102
24,944   20,668 4,276
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       2,320
c       -3,740
d       63
e       -150
      -292
      3,467
      -1,152
      4,587
      1,803
      -1,379
      2,320
      3,458
      190
      -4,084
      -1,786
      8,498
      3,267
      -5,957
      -1,084
      5,709
      2,320
      -1,624
      -4,641
      -5
      40
      -363
      -13,903
      -694
      -2,037
      84
      1,606
      1,772
      -4,977
      -9
      -872
      11,999
      -3,813
      9,145
       
      -412
      -2,467
      -191
      307
      -2
       
      -10,491
      3,590
      -1,317
       
      7,689
      -701
      -21
      -4,452
      15
       
      -1,443
      -606
      3,983
      -10
      2,222
      11,045
      -184
      -824
      99
      -1,023
      -644
      468
      -4,097
      4,199
      3,738
      -141
      37
      307
      4,410
      1,246
      -672
      -809
      -4,516
      5,105
      -968
      -1,971
      -3,991
      -3,418
      2,896
      -241
      -655
      -6,355
      -8,055
      3,638
      -228
      -1,076
      4,662
      -643
      -2,133
      -169
      1,178
      1,782
      -28
      -159
      125
      -1,101
      -1,365
      -1,164
      18,782
      3,350
      -91
      -68
      -676
      48
      -3,249
      -13,913
      -16,600
      1,992
      12,210
      -7,321
      -3,856
      49
      38
      -13,258
      8,937
      3,179
      -943
      -11
      153
      74
      -178
      18
      19,376
      8,321
      8,624
      8,807
      5,931
      1,002
      -1
      -1,833
      69
      -9,095
      1,552
      -1,102
      4,276
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 42,055
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 -38,074
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))
2010 59,050 1,357,932 0.043485
2009 76,151 1,186,800 0.064165
2008 75,670 1,585,264 0.047733
2007 70,210 1,765,258 0.039773
2006 78,976 1,513,291 0.052188
2 Total of line 1, column (d) ...................... 2 0.247344
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 0.049469
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 1,476,305
5 Multiply line 4 by line 3....................... 5 73,031
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 680
7 Add lines 5 and 6......................... 7 73,711
8 Enter qualifying distributions from Part XII, line 4.............. 8 71,200
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 (2011)
Form 990-PF (2011)
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 1,359
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 1,359
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 1,359
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 12,813
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 12,813
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 11,454
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet11,454 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
 
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 2011 or the taxable year beginning in 2011 (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.Click to see attachment
    10
    Yes
     
    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 ofbulletHOYT Q BAILEY Telephone no.bullet (704) 487-8888
    Located atbullet415 POLKVILLE ROADSHELBYNC ZIP+4bullet28150
    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 2011, 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
     
     
    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 (2011)
    Form 990-PF (2011)
    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 2011?.............
    1c
     
     
    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 2011, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2011?...............
    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 2011 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 2011.)....................
    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 2011?
    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 (2011)
    Form 990-PF (2011)
    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
    HOYT G TESSNERClick to see attachment PRESIDENT
    2.00     		0 0 0
    2105 PRESCOTT PLACE
    RALEIGH,NC27615
    MELANIE KNIGHTClick to see attachment VP
    1.00     		0 0 0
    4017 LAKE POINT CIRCLE
    RALEIGH,NC27606
    CYNTHIA BUCKINGHAMClick to see attachment VP
    1.00     		0 0 0
    7540 DRAYTON COURT
    RALEIGH,NC27615
    HOYT Q BAILEYClick to see attachment DIRECTOR
    4.00     		0 0 0
    27 E RANDOLPH ST
    SHELBY,NC28150
    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  
    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.............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
     
    2  
    3  
    4  
    Form 990-PF (2011)
    Form 990-PF (2011)
    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 N/A  
    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
    1,373,430
    b
    Average of monthly cash balances.......................
    1b
    87,183
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    38,174
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,498,787
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    1,498,787
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    22,482
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,476,305
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    73,815
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    73,815
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    1,359
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,359
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    72,456
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    72,456
    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
    72,456
    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
    71,200
    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
    71,200
    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
    71,200
    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 (2011)
    Form 990-PF (2011)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2010     		(c)
    2010     		(d)
    2011
    1 Distributable amount for 2011 from Part XI, line 7 72,456
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 66,695
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2011:
    a From 2006.......  
    b From 2007.......  
    c From 2008.......  
    d From 2009.......  
    e From 2010.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 71,200
    a Applied to 2010, but not more than line 2a 66,695
    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)...     		 
    d Applied to 2011 distributable amount..... 4,505
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2011.    
    (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 2010. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    f Undistributed income for 2011. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		67,951
    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 2006 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		 
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2007....  
    b Excess from 2008....  
    c Excess from 2009....  
    d Excess from 2010....  
    e Excess from 2011....  
    Form 990-PF (2011)
    Form 990-PF (2011)
    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 2011, 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) 2011 (b) 2010 (c) 2009 (d) 2008
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    HOYT Q BAILEY
    PO BOX 208
    SHELBY,NC281810208
    (704) 487-8888
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATIONS MUST BE WRITTEN, MUST INCLUDE EVIDENCE THAT THE RECEPIENT IS AN EXEMPT CHARTIABLE ORGANIZATION AND FACTS TO SUPPORT THE NEED.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    Form 990-PF (2011)
    Form 990-PF (2011)
    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
    ABUSE PREVENTION COUNCIL
    PO BOX 2589
    SHELBY,NC28151     		  501(C)3 ABUSED WOMEN 100
    ACLJ
    PO BOX 90555
    WASHINGTON,DC20090     		  501(C)3 LAW & JUSTICE 300
    ADOPT A PLATOON
    PO BOX 5035
    HAGERSTOWN,MD21741     		  501(C)3 OUR TROOPS 500
    AGAPE MINISTRIES
    215 MERIT DR
    SHELBY,NC28150     		  501(C)3 FOOD FOR THE POOR 1,000
    ALDERSGATE METHODIST CHURCH
    1207 W DIXON BLVD
    SHELBY,NC28152     		  501(C)3 KENYAN MISSION 1,000
    ALLIANCE DEFENSE FUND
    15100 N 90TH ST
    SCOTSDALE,AZ85260     		  501(C)3 FIGHT THE ACLU 100
    ANIMALS' ANGELS
    PO BOX 5003
    HAGERSTOWN,MD21741     		  501(C)3 ANIMAL PROTECTION 500
    APPALACHIAN STATE UNIVERSITY
    PO BOX 32015
    BOONE,NC28608     		  501(C)3 SCHOLARSHIPS 1,000
    ASPCA
    PO BOX 96929
    WASHINGTON,DC20090     		  501(C)3 PREVENT CRUELTY TO ANIMALS 100
    BARTON COLLEGE
    PO BOX 5500
    WILSON,NC27893     		  501(C)3 STUDENT ASSISTANCE 100
    BOY SCOUTS OF AMERICA
    PO BOX 1059
    GASTONIA,NC28053     		  501(C)3 CAMP 2,500
    CAPE FEAR BAPTIST CHURCH
    7300 CAROLINA BEACH RD
    WILMINGTON,NC28412     		  501(C)3 CHURCH OPERATIONS 100
    CAROLINA TIGER RESCUE
    1940 HANKS CHAPEL RD
    PITTSBORO,NC27312     		  501(C)3 ANIMAL ASSISTANCE 100
    CENTRAL UNITED METHODIST CHURCH
    200 E MARION ST
    SHELBY,NC28150     		  501(C)3 CHURCH OPERATIONS 200
    CLEVELAND COUNTY BOYS & GIRLS CLUB
    412 W SUMPTER ST
    SHELBY,NC28150     		  501(C)3 OPERATING EXPENSES 100
    CLEVELAND COUNTY BOYS & GIRLS CLUB
    412 W SUMPTER ST
    SHELBY,NC28150     		  501(C)3 SCHOLARSHIPS 600
    CLEVELAND COMMUNITY COLLEGE FOUNDAT
    137 S POST RD
    SHELBY,NC28152     		  501(C)3 SCHOLARSHIPS 10,000
    CLEVELAND COUNTY SHERIFF'S OFFICE
    100 JUSTICE PLACE
    SHELBY,NC28150     		  501(C)3 DEFIBRULATOR FOR OFFICERS 2,000
    COMPETITIVE ENTERPRISE INSTITUTE
    PO BOX 96640
    WASHINGTON,DC20090     		  501(C)3 OPERATING EXPENSES 100
    COUNCIL ON AGING-SENIOR CENTER
    100 T R HARRIS DR
    SHELBY,NC28150     		  501(C)3 OPERATING EXPENSES 100
    CREST HIGH SCHOOL
    800 OLD BOILING SPRINGS R
    SHELBY,NC28152     		  501(C)3 FUTURE FARMERS OF AMERICA 2,000
    DOVER BAPTIST CHURCH
    1501 POLKVILLE RD
    SHELBY,NC28150     		  501(C)3 CHURCH OPERATIONS 200
    EMPTY STOCKING FUND
    315 E GRAHAM ST
    SHELBY,NC28150     		  501(C)3 FAMILIES IN NEED 1,000
    ENCOURAGING WORD FIRST BAPTIST OF S
    PO BOX 2110
    SPARTANBURG,SC29306     		  501(C)3 CHURCH MISSIONS 500
    ENLOE BAND BOOSTERS
    3105 HIKING TRAIL
    RALEIGH,NC27615     		  501(C)3 BAND INSTRUMENTS 700
    FELLOWSHIP OF CHRISTIAN ATHLETES
    PO BOX 83
    SHELBY,NC28151     		  501(C)3 SUPPORT FOR PROGRAMS 500
    FIRST BAPTIST CHURCH
    120 N LAFAYETTE ST
    SHELBY,NC28150     		  501(C)3 CHURCH OPERATIONS 150
    FIRST BAPTIST CHURCH
    120 N LAFAYETTE ST
    SHELBY,NC28150     		  501(C)3 MISSIONS 1,000
    FOOD FOR THE POOR
    6401 LYONS RD
    COCONUT CREEK,FL33007     		  501(C)3 FOOD FOR THE POOR 300
    GARDNER WEBB UNIVERSITY
    PO BOX 897
    BOILING SPRINGS,NC28017     		  501(C)3 SCHOOL OF DIVINITY & SCHOLARSHIPS 21,500
    GRACE CHRISTIAN ACADEMY
    260 RANGE RD
    KINGS MOUNTAIN,NC28086     		  501(C)3 OPERATING EXPENSES 1,000
    GRAHAM ELEMENTARY SCHOOL
    1100 BLANTON ST
    SHELBY,NC28150     		  501(C)3 SPECIAL CHILDREN 1,000
    HOSPICE OF CLEVELAND COUNTY
    951 WENDOVER HEIGHTS DR
    SHELBY,NC28150     		  501(C)3 OPERATING EXPENSES 300
    HOSPITALIZED VETERANS
    PO BOX 98088
    WASHINGTON,DC20090     		  501(C)3 VETERANS 200
    INTER-FAITH ALLIANCE
    PO BOX 1272
    SHELBY,NC28151     		  501(C)3 THE HOMELESS 3,000
    INTERNATIONAL FELLOWSHIP OF CHRISTI
    PO BOX 96105
    WASHINGTON,DC20090     		  501(C)3 OPERATING EXPENSES 600
    LEUKEMIA & LYMPHOMA SOCIETY
    PO BOX 9026
    PITTSFIELD,MA01202     		  501(C)3 CHILDREN 50
    MARCH OF DIMES
    PO BOX 27768
    RALEIGH,NC27611     		  501(C)3 SICK BABIES 50
    M S SOCIETY
    PO BOX 100
    MOORESBORO,NC28114     		  501(C)3 MS RESEARCH 50
    MUSCULAR DYSTROPHY ASSOCIATION
    484 WILLIAMSON RD
    MOORESVILLE,NC28117     		  501(C)3 PROGRAMS 100
    NAACP
    219 NEW BETHEL CHURCH RD
    LAWNDALE,NC28090     		  501(C)3 OPERATING EXPENSES 1,000
    NOAH'S ARK WILDLIFE CENTER INC
    PO BOX 136
    SANDY RIDGE,NC27046     		  501(C)3 ANIMAL PROTECTION 1,000
    NORTH SHELBY SCHOOL
    1205 NORTHSIDE DR
    SHELBY,NC28150     		  501(C)3 STUDENT SERVICES 100
    PARALYZED VETS OF AMERICA
    PO BOX 758532
    TOPEKA,KS66675     		  501(C)3 PARALYZED VETS 100
    SALVATION ARMY
    PO BOX 1764
    SHELBY,NC28151     		  501(C)3 HELP THE NEEDY 3,000
    SAVE JERUSALEM
    PO BOX 527
    FOREST,VA24551     		  501(C)3 THE CAUSE OF JERUSALEM 100
    SENIOR LEGACY FOUNDATION
    5235 WESTVIEW DR SUITE
    FREDERICK,MD21703     		  501(C)3 SENIOR CITIZEN ISSUES 200
    SHELBY CHRISTIAN WOMEN'S CLUB
    1304 VISTA DR
    SHELBY,NC28150     		  501(C)3 OPERATING EXPENSES 500
    SHELBY ROTARY CLUB FOUNDATION
    PO BOX 2861
    SHELBY,NC28151     		  501(C)3 VARIOUS PROGRAMS 1,800
    ST TIMOTHY'S SCHOOL
    4523 SIX FORKS RD
    RALEIGH,NC27609     		  501(C)3 SCHOOL OPERATIONS 2,000
    UNC-TV
    PO BOX 600067
    RALEIGH,NC27675     		  501(C)3 PUBLIC TV OPERATIONS 100
    UNITED CHURCH OF CHRIST
    PO BOX 25942
    RALEIGH,NC27611     		  501(C)3 PASTOR'S FUND 5,000
    UNITED FOR LIFE
    655 15TH ST NW
    WASHINGTON,DC20005     		  501(C)3 PRO-LIFE 200
    VIETNAM VETERANS MEMORIAL FUND
    PO BOX 96764
    WASHINGTON,DC20090     		  501(C)3 MEMORIAL 100
    WILDLIFE WELFARE
    1120 GUNNISON PLACE
    RALEIGH,NC27609     		  501(C)3 ANIMAL CARE 500
    WORLD WILDLIFE FUND
    PO BOX 9655
    WASHINGTON,DC20077     		  501(C)3 WILDLIFE PROTECTION 300
    YOUNG AMERICAN'S FOUNDATION
    110 ELDEN ST
    HERNDON,VA20170     		  501(C)3 DEMOCRACY 500
    Total .................................bullet 3a 71,200
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2011)
    Form 990-PF (2011)
    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 1,400  
    4 Dividends and interest from securities....     14 45,857  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory     14 42,055 -829
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aBELMONT 1 - US 321/74 BYPASS     16 11  
    bFIFTH THIRD INVESTMENT ACCT     14 917  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   90,240 -829
    13Total. Add line 12, columns (b), (d), and (e)..................
    1389,411
    (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 (2011)
    Form 990-PF (2011)
    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 (2011)
    Additional Data


    Software ID:  
    Software Version:  


    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
    2011
    Name of organization
    BAILEY ENDOWMENT INC
     
    Employer identification number

    56-1802700
    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 on line H of its
    Form 990-EZ or on Part I, 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) (2011)

    Page 2
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    BAILEY ENDOWMENT INC
          		Employer identification number

    56-1802700
    Part I
    Contributors (see Instructions). Use duplicate copies of Part I if additional space is needed.
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    JOSEPH M WRIGHT CHARITABLE FOUNDATI    
    600 POLKVILLE RD
       
    SHELBY, NC   28150

    		$20,000




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

         
     
       

    		$  




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

         
     
       

    		$  




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

         
     
       

    		$  




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

         
     
       

    		$  




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

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 3
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    BAILEY ENDOWMENT INC
          		Employer identification number

    56-1802700
    Part II
    Noncash Property (see Instructions). Use duplicate copies of Part II if additional space is needed.
    		     
    (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) (2011)

    Page 4
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    BAILEY ENDOWMENT INC
          		Employer identification number

    56-1802700
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    that total 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 $  
    Use duplicate copies of Part III if additional space is needed
    (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) (2011)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2011 AccountingFeesSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEES 2,975      

    TY 2011 CompensationExplanation
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Person Name Explanation
    HOYT G TESSNER  
    MELANIE KNIGHT  
    CYNTHIA BUCKINGHAM  
    HOYT Q BAILEY  

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2011 GainLossSaleOtherAssetsSch
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    INTERNATIONAL BUSINESS MACHINES 2011-05 PURCHASE 2011-09   17,999 18,828     -829  

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ADOBE SYS    
    ABB LTD    
    ABB LTD    
    AXA, ADR    
    AMERICA MOVIL SAB    
    ANGLO AMERICAN PLC    
    ANADARKO PETE CORP    
    APPLIED MATERIAL INC    
    APPLIED MATERIAL INC    
    BANCO SANTANDER    
    BANCO SANTANDER    
    BANCO SANTANDER    
    BANCO SANTANDER    
    BANK OF NOVA SCOTIA    
    BANCO BRADESCO    
    BASF    
    BASF    
    BAIDU INC    
    BNP PARIBAS    
    BHP BILLITON LTD    
    BHP BILLITON LTD    
    BOEING COMPANY    
    CREDIT SUISSE    
    CARNIVAL CORP    
    CNOOC LTD    
    CATERPILLAR, INC.    
    CENOVUS ENERGY INC    
    CHEUNG KONG HLDG    
    CISCO SYSTEMS INC    
    CISCO SYSTEMS INC    
    DEERE CO    
    DOVER CORP    
    E M C CORP MASS    
    EMERSON ELECTRIC CO    
    FREEPRT-MCMRAN CPR & GLD    
    FREEPRT-MCMRAN CPR & GLD    
    FORTUNE BRANDS INC    
    GLAXOSMITHKLINE PLC    
    GENERAL ELECTRIC    
    GENERAL ELECTRIC    
    GENERAL ELECTRIC    
    HONEYWELL INTERNATIONAL    
    HEWLETT PACKARD CO    
    HONDA MOTORS    
    INTEL CORP    
    JOHNSON AND JOHNSON    
    MOSAIC CO    
    MITSUBISHI UFJ FINANCIAL GROUP    
    MITSUBISHI UFJ FINANCIAL GROUP    
    MICROSOFT CORP    
    NATIONAL-OILWELL VARCO INC    
    NESTLE    
    OCCIDENTAL PETE CORP    
    ORACLE CORP    
    PPG INDUSTRIES INC    
    PETRLEO BRAS VTG SPD    
    PNC FINANCIAL SERVICES GROUP    
    J C PENNEY CO    
    PANASONIC CORP    
    PROCTER & GAMBLE    
    RIO TINTO    
    ROCHE HOLDING LTD    
    SIEMENS AG    
    SCHLUMBERGER LTD    
    SCHLUMBERGER LTD    
    SONY CORP    
    TARGET CORP    
    TRANSOCEAN, INC.    
    TIME WARNER INC    
    TIFFANY & CO    
    UNILEVER    
    UNION PACIFIC CORP    
    UNITED TECHS CORP    
    VALE SA    
    WAL-MART STORES, INC.    
    WELLS FARGO & CO    
    ISHARES MSCI EMERGING MARKETS    
    DODGE & COX INCOME FD 184,240 182,050
    LORD ABBETT BD DEB FD 61,544 62,032
    MFS GOVT MKTS INCOME TR 3,215 3,257
    PIMCO LOW DURATION FUND 36,910 36,519
    BLACKROCK INFL PROT BD 61,460 61,996
    ISHARES S&P PFD STK INDX FN 12,492 11,968
    MARVELL TECHNOLOGY GROUP 4,172 3,767
    NOBLE CORP 2,578 2,115
    AT&T INC 4,898 5,141
    ABBOTT LABS 4,956 5,398
    AMERIPRISE FINANCIAL INC 2,904 3,177
    APACHE CORP 3,779 3,442
    APPLE INC 7,968 8,100
    BARD C R INC 2,563 2,394
    CAPITAL ONE FINL CORP 3,707 3,510
    CENTURYTEL INC 4,829 5,357
    CHEVRON CORP 5,781 6,171
    COCA COLA CO 5,286 5,178
    COMCAST CORP 4,570 4,742
    DEERE & CO 2,594 2,553
    DU PONT E I DE NEMOURS & CO 6,590 6,409
    EATON VANCE TAX MAN GLBL BR 4,177 3,968
    EXXON MOBIL CORP 2,859 2,712
    FEDEX CORP 4,303 4,677
    GENUINE PARTS CO 6,187 6,977
    GILEAD SCIENCES INC 4,936 4,993
    GOOGLE INC 6,549 7,751
    HONEYWELL INTL INC 4,715 5,272
    IBM 6,833 7,355
    J P MORGAN CHASE & CO 6,092 5,852
    KELLOGG CO 4,849 4,551
    KIMBERLY CLARK CORP 8,458 8,974
    KOHLS CORP 2,984 3,060
    KRAFT FOODS INC 5,119 5,455
    LOCKHEED MARTIN CORP 5,137 5,501
    MASTERCARD INC 6,988 7,456
    MCKESSON CORP 3,206 3,272
    MEDCO HEALTH SOLUTIONS INC 2,196 2,460
    MEDTRONIC INC 4,594 5,049
    MERCK & CO INC 5,037 5,806
    MICROSOFT CORP 3,288 2,804
    MOODYS CORP 4,893 4,884
    MYLAN INC 4,802 4,979
    NATIONAL-OILWELL INC 5,703 5,847
    NORFOLK SOUTHERN CORP 5,632 5,829
    ORACLE CORP 3,670 3,232
    PNC FINANCIAL SERVICES GROUP 4,679 5,190
    PFIZER INC 6,840 7,401
    PHILIP MORRIS INTL INC 5,099 5,808
    RAYTHEON CO 5,141 5,902
    SLM CORP 2,448 2,626
    SANDISK CORP 4,386 5,019
    SCHLUMBERGER LTD 6,395 5,875
    SPECTRA ENERGY CORP 2,339 2,737
    STARBUCKS CORP 4,543 5,337
    TORTOISE ENERGY INFRASTRUCTURE CORP 20,406 22,314
    VERIZON COMMUNICATIONS 2,556 2,808
    WELLPOINT INC 2,833 2,783
    YUM BRANDS INC 5,078 5,547
    ALLIANT CORP 6,742 7,410
    ATMEL CORP 4,680 3,677
    CNO FINL GROUP INC 3,834 3,874
    EAST WEST BANCORP INC 4,685 5,412
    F5 NETWORKS INC 2,025 2,547
    GATX CORP 5,755 6,986
    HERCULES TECHNOLOGY GROWTH 4,441 4,399
    ISHARES S&P MICAP 400 62,200 62,904
    JOY GLOBAL INC 4,812 4,198
    KIMBALL INTL INC 2,479 2,576
    MDU RES GROUP INC 4,591 4,678
    MICROCHIP TECHNOLOGY INC 5,358 5,641
    OLIN CORP 8,396 8,371
    PACKAGING CORP OF AMERICA 6,989 6,562
    ROCKWOOD HLDGS INC 4,843 3,780
    T ROWE PRICE SMALL CAP 37,350 35,969
    WALTER ENERGY INC 3,530 2,544
    WINDSTREAM CORP 5,504 4,978
    ANHEUSER BUSCH INBEV 4,274 5,001
    CHORUS LTD 844 815
    EUROPACIFIC GROWTH FD 75,035 71,765
    ROGERS COMMUNICATIONS INC 2,729 2,696
    TELECOM CORP NEW ZEALAND LTD 2,741 2,701
    UNILEVER 5,351 5,637
    BANCO LATINOAMERICAN DE COMERCIO EXT 5,078 4,783
    OPPENHEIMER DVLPING MKTS 49,802 45,686
    TELEFONICA BRASIL 7,448 6,833
    JPMORGAN CHASE & CO ALERIAN MLP INDE 21,456 23,694
    ASG MANAGED FUTURES STRAG FUND 14,533 13,685
    PIMCO ALL ASSET ALL AUTH FUND 60,827 57,445
    AMERICAN CAMPUS CMNTYS INC 6,349 6,714
    AMERICAN CAP AGY CORP 3,649 3,426
    ANNALY CAPITAL MANAGEMENT INC 4,310 3,830
    CHIMERA INVT CORP 2,614 2,159
    DIGITAL RLTY TR INC 6,587 7,467
    HOSPITALITY PPTYS TR 6,395 6,480
    LTC PPTYS INC 4,797 5,308
    NATIONAL HEALTH INVS INC 6,553 6,157
    OMEGA HEALTHCARE INVES INC 6,332 7,314
    PLUM CREEK TIMBER CO INC 4,378 4,314
    RAYONIER INC 6,438 7,230
    REALTY INCOME CORP 3,684 3,706
    VANGUARD REIT ETF 62,162 63,974

    TY 2011 InvestmentsOtherSchedule2
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    US 321 BYPASS LLC AT COST 26,006 26,006

    TY 2011 OtherExpensesSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    MISCELLANEOUS EXPENSE FROM K- 255 255    
    CERTIF FEES 177 177    
    SUBSCRIPTIONS 92 92    
    POSTAGE 62      
    ROUNDING 5      


    TY 2011 OtherIncomeSchedule2
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    BELMONT 1 - US 321/74 BYPASS 11   11
    FIFTH THIRD INVESTMENT ACCT 917   917


    TY 2011 OtherProfessionalFeesSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BROKERAGE FEES 17,939 17,939    


    TY 2011 SubstantialContributorsSch
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Name Address
    JOSEPH M WRIGHT CHARITABLE FOUNDAT 600 POLKVILLE RD
    SHELBY,NC28150


    TY 2011 TaxesSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN: 56-1802700
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 1,359      
    FOREIGN TAX 2,555 2,555    
    PROPERTY TAX FROM K-1 340 340