Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
THE EDWARD M ARMFIELD SR FOUNDATION
INC
Number and street (or P.O. box number if mail is not delivered to street address)324 W WENDOVER AVE 130
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
GREENSBORO, NC27408
A Employer identification number

56-2156876
B Telephone number (see instructions)

(336) 273-7519
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$68,779,889J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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 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 133 133  
4 Dividends and interest from securities... 1,593,600 1,128,271  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,857,818
b Gross sales price for all assets on line 6a 6,941,018
7 Capital gain net income (from Part IV, line 2)... 4,393,987
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 0 -106,828  
12 Total. Add lines 1 through 11........ 5,451,551 5,415,563  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 166,151 33,230   132,921
14 Other employee salaries and wages...... 84,379 16,876   67,503
15 Pension plans, employee benefits....... 2,406 481   1,925
16a Legal fees (attach schedule)......... Click to see attachment 114,430 114,320   110
b Accounting fees (attach schedule)....... Click to see attachment 55,305 11,061   44,244
c Other professional fees (attach schedule).... Click to see attachment 129,078 128,878   200
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 82,088 8,025   13,922
19 Depreciation (attach schedule) and depletion... 4,425 0  
20 Occupancy.............. 26,945 5,389   21,556
21 Travel, conferences, and meetings....... 2,007 401   1,606
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 457,841 440,059   17,217
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,125,055 758,720   301,204
25 Contributions, gifts, grants paid....... 2,269,519 3,468,208
26 Total expenses and disbursements. Add lines 24 and 25 3,394,574 758,720   3,769,412
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,056,977
b Net investment income (if negative, enter -0-) 4,656,843
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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......... 1,732,171 1,299,995 1,299,995
3 Accounts receivable bullet1,551
Less: allowance for doubtful accounts bullet   97,285 1,551 1,551
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 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.......... 2,000 63,508 63,508
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 13,677,486 Click to see attachment15,606,513 15,606,513
c Investments—corporate bonds (attach schedule)....... 2,479,525 Click to see attachment2,479,709 2,479,709
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 47,184,429 Click to see attachment49,317,670 49,317,670
14 Land, buildings, and equipment: basis bullet56,865
Less: accumulated depreciation (attach schedule) bullet45,922 15,369 10,943 10,943
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 65,188,265 68,779,889 68,779,889
Liabilities 17 Accounts payable and accrued expenses.......... 79,254 49,857
18 Grants payable................. 5,557,901 4,359,024
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) Click to see attachment14,831 Click to see attachment27,730
23 Total liabilities (add lines 17 through 22)......... 5,651,986 4,436,611
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 59,536,279 64,343,278
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 59,536,279 64,343,278
30 Total liabilities and net assets/fund balances (see instructions). 65,188,265 68,779,889
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
59,536,279
2
Enter amount from Part I, line 27a .....................
2
2,056,977
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
2,750,022
4
Add lines 1, 2, and 3 ..........................
4
64,343,278
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 29 .
6
64,343,278
Form 990-PF (2021)
Form 990-PF (2021)
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 VANGUARD FUNDS P 2020-12-30 2021-12-31
b INDUS ASIA PACIFIC FUND P 2020-12-30 2021-12-31
c NEON LIBERTY P 2020-12-30 2021-12-31
d HOLOWESKO - EDGEWOOD MGT P 2020-12-30 2021-12-31
e GOLDMAN SACHS - MEZZANINE FUND P 2020-12-30 2021-12-31
NUT TREE DRAWDOWN CAPITAL P 2020-12-30 2021-12-31
CANYON VALUE REALIZATION FUND (CAYMON) P 2020-12-30 2021-12-31
GREEN COURT CAPITAL P 2020-12-30 2021-12-31
NEWPORT ASIA K-1 P 2020-12-30 2021-12-31
WHITEHALL K-1 P 2020-12-30 2021-12-31
SAPONA P 2020-12-30 2021-12-31
KABOUTER K-1 P 2020-12-30 2021-12-31
LEXINGTON CAPITAL K-1 P 2020-12-30 2021-12-31
LCP IX K-1 P 2020-12-30 2021-12-31
CASDIN GROWTH K-1 P 2020-12-30 2021-12-31
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 1,293,000   640,214 652,786
b 66,980   87,000 -20,020
c 1,000,000   362,014 637,986
d 750,000   175,052 574,948
e 8,066     8,066
320,000     320,000
500,000   282,012 217,988
1,860,172   1,000,000 860,172
186,054     186,054
    739 -739
162,000     162,000
99,395     99,395
202,272     202,272
1,292     1,292
5,584     5,584
486,203     486,203
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       652,786
b       -20,020
c       637,986
d       574,948
e       8,066
      320,000
      217,988
      860,172
      186,054
      -739
      162,000
      99,395
      202,272
      1,292
      5,584
      486,203
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 4,393,987
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 instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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 64,730
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 64,730
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 22,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 22,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 1,179
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 43,909
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 2022 estimated taxBullet   RefundedBullet 11  
Part VI-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 the instructions
for the 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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see 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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    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 instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    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 ofbulletMINDY OAKLEY Telephone no.bullet (336) 273-7519

    Located atbullet324 WEST WENDOVER AVEGREENSBORONC ZIP+4bullet27408
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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 instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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 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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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 instructions ........
    5b
     
     
    c
    .........bullet
    d
    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? .................
    5d
     
     
    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? .............................
    6a
     
    No
    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?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See 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
    ADAIR P ARMFIELD DIRECTOR
    2.00     		0 0 0
    1504 EDGEDALE ROAD
    GREENSBORO,NC27408
    BEDFORD CANNON DIRECTOR
    2.00     		0 0 0
    140 EAST WATER STREET
    STATESVILLE,NC28677
    PHIFER CRUTE DIRECTOR
    2.00     		0 0 0
    1327 TORREY PINE ROAD
    LAJOLLA,CA92037
    JAMES C B HANCOCK DIRECTOR
    2.00     		0 0 0
    177 BLEECKER ST 12
    NEW YORK,NY10012
    R DAVID SPRINKLE DIRECTOR
    2.00     		0 0 0
    3017 VERBENA LN
    GREENSBORO,NC27410
    MELINDA W OAKLEY OFFICER
    40.00     		0 0 0
    1911 LAFAYETTE AVE
    GREENSBORO,NC27408
    2 Compensation of five highest-paid employees (other than those included on line 1—see 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
    DIANA HEDGSPETH OFFICE MGR
    40.00     		84,379 2,406 0
    324 W WENDOVER AVE - STE 130
    GREENSBORO,NC27408
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    WEAVER CONSULTING GROUP ENVIRONMENTAL CLEAN UP SERVICES 227,015
    101 MAIN ST 200
    HUNTINGTON,CA92648
    GEOSYNTEC CONSULTANTS ENVIRONMENTAL CLEAN UP SERVICES 208,742
    924 ANACAPA STREET STE 4A
    SANTA BARBARA,CA93101
    DAVIS WRIGHT TREM LLP LEGAL 114,442
    505 MONTGOMERY ST STE 800
    SAN FRANCISCO,CA94111
    MONTICELLO ASSOCIATES ASSET MANAGEMENT CONSULTANT 93,750
    1800 LARIMER STREET
    DENVER,CO80202
    DMJ & CO PLLC ACCOUNTING 55,305
    703 GREEN VALLEY RD - STE 201
    GREENSBORO,NC27408
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-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  
    Part VIII-B
    Summary of Program-Related Investments (see 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 instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see 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
    16,926,416
    b
    Average of monthly cash balances.......................
    1b
    1,772,861
    c
    Fair market value of all other assets (see instructions)................
    1c
    48,959,625
    d
    Total (add lines 1a, b, and c).........................
    1d
    67,658,902
    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
    67,658,902
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    1,014,884
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    66,644,018
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    3,332,201
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    3,332,201
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    64,730
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    64,730
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,267,471
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,267,471
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    3,267,471
    Part XI
    Qualifying Distributions (see 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
     
    b
    Program-related investments—total from Part VIII-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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 3,267,471
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 1,312,139
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 3,769,412
    a Applied to 2020, but not more than line 2a 1,312,139
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 2,457,273
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 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 instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		810,198
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see 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 or e-mail address of the person to whom applications should be addressed:
    MELINDA W OAKLEY
    324 W WENDOVER AVE - STE 130
    GREENSBORO,NC27408
    (336) 273-7519
    MINDY.OAKLEY@ARMFIELDFDN.ORG
    bThe form in which applications should be submitted and information and materials they should include:
    CALL FOUNDATION FOR REQUIRED GRANT APPLICATION FORM
    cAny submission deadlines:
    JUNE 15TH AND OCTOBER 31ST
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    COMMUNITY CAPITAL CAMPAIGNS, EDUCATIONAL INSTITUTION CAPITAL CAMPAIGNS AND EDUCATIONAL PROGRAMS IN GUILFORD, RANDOLPH AND SURRY COUNTIES IN NC.
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    ACTION GREENSBORO
    122 N ELM STREET SUITE 110
    GREENSBORO,NC27401     		N/A PC GRANT 10,000
    ALLEGHANY MEMORIAL HOSPITAL FOUNDATION
    233 DOCTORS STREET
    SPARTA,NC28675     		N/A PC GRANT 50,000
    APPALACHIAN STATE UNIVERSITY
    PO BOX 32059
    BOONE,NC28608     		N/A PC SCHOLARSHIP 137,617
    BARTON COLLEGE
    PO BOX 5000
    WILSON,NC27893     		N/A PC SCHOLARSHIP 3,000
    BELMONT ABBEY COLLEGE
    100 BELMONT-MT HOLLY RD
    BELMONT,NC28012     		N/A PC SCHOLARSHIP 9,500
    BRIGHAM-YOUNG UNIVERSITY-UT
    A-41 ABRAHAM SMOOT BLDG
    PROVO,UT84602     		N/A PC SCHOLARSHIP 2,500
    CAMPBELL UNIVERSITY
    PO BOX 70
    BUIES CREEK,NC27506     		N/A PC SCHOLARSHIP 7,000
    CANTERBURY SCHOOL
    5400 OLD LAKE JEANETTE RD
    GREENSBORO,NC27455     		N/A PC GRANT 20,000
    CATAWBA COLLEGE
    2300 WEST INNES ST
    SALISBURY,NC28144     		N/A PC SCHOLARSHIP 10,800
    CENTER FOR CREATIVE LEADERSHIP
    1 LEADERSHIP PLACE
    GREENSBORO,NC27410     		N/A PC GRANT 80,000
    CITY OF ASHEBORO
    PO BOX 1106
    ASHEBORO,NC27204     		N/A GOV GRANT 80,000
    CLEMSON UNIVERSITY
    105 SIKES HALL BOX 345124
    CLEMSON,SC29634     		N/A PC SCHOLARSHIP 12,500
    COMMUNITY FOUNDATION OF GREATER GREENSBORO
    301 N ELM STREET SUITE 100
    GREENSBORO,NC27401     		N/A PC GRANT 100,000
    DAVIDSON COLLEGE
    PO BOX 7162
    DAVIDSON,NC28035     		N/A PC SCHOLARSHIP 402,500
    EAST CAROLINA UNIVERSITY
    SPILMAN BUILDING
    GREENVILLE,NC27858     		N/A PC SCHOLARSHIP 1,000
    EASTERN MENNONITE UNIVERSITY
    1200 PARK ROAD
    HARRISONBURG,VA22802     		N/A PC SCHOLARSHIP 1,000
    ELKIN CITY SCHOOLS
    202 WEST SPRING ST
    ELKIN,NC28621     		N/A PC GRANT 98,701
    ELON UNIVERSITY
    CAMPUS BOX 2700
    ELON,NC27244     		N/A PC SCHOLARSHIP 33,000
    GARDNER-WEBB UNIVERSITY
    PO BOX 997
    BOILING SPRINGS,NC28017     		N/A PC SCHOLARSHIP 18,500
    GUILFORD COLLEGE
    5800 WEST FRIENDLY AVE
    GREENSBORO,NC27410     		N/A PC SCHOLARSHIP 210,000
    GUILFORD EDUCATION ALLIANCE
    311 POMONA DRIVE SUITE E
    GREENSBORO,NC27407     		N/A PC GRANT 100,000
    LEE UNIVERSITY
    1120 N OCOEE STREET
    CLEVELAND,TN27590     		N/A PC SCHOLARSHIP 10,000
    LEES-MCRAE COLLEGE
    PO BOX 128
    BANNER ELK,NC28604     		N/A PC SCHOLARSHIP 8,200
    LENOIR-RHYNE COLLEGE
    PO BOX 128
    BANNER ELK,NC28604     		N/A PC SCHOLARSHIP 25,000
    MARS HILL UNIVERSITY
    PO BOX 370
    MARS HILL,NC28754     		N/A PC SCHOLARSHIP 1,000
    MCCALLIE SCHOOL
    500 DODDS AVENUE
    CHATTANOOGA,TN37404     		N/A PC GRANT 100,000
    MONTREAT COLLEGE
    310 GAITHER CIRCLE
    MONTREAT,NC28757     		N/A PC SCHOLARSHIP 5,500
    MT AIRY CITY SCHOOLS
    202 HYLTON ST
    MT AIRY,NC27030     		N/A PC GRANT 51,324
    NORTH CAROLINA STATE UNIVERSITY
    BOX 7302 / 2005 HARRIS HALL
    RALEIGH,NC27695     		N/A PC SCHOLARSHIP 73,000
    NORTH CAROLINA TEXTILE FOUNDATION
    1020 MAIN CAMPUS DRIVE
    RALEIGH,NC27606     		N/A PC GRANT 100,000
    OLD DOMINION UNIVERSITY
    121 ALFRED B ROLLINS JR HALL
    NORFOLK,VA23529     		N/A PC SCHOLARSHIP 5,000
    OPERATION XCEL
    PO BOX 412
    STOKESDALE,NC27357     		N/A PC GRANT 50,000
    PFEIFFER UNIVERSITY
    PO BOX 960
    MISENHEIMER,NC28109     		N/A PC SCHOLARSHIP 5,000
    SALEM COLLEGE
    601 S CHURCH STREET
    WINSTONSALEM,NC27101     		N/A PC SCHOLARSHIP 9,750
    SALVATION ARMY OF SURRY COUNTY
    P O BOX 443
    MT AIRY,NC27030     		N/A PC GRANT 10,000
    STANFORD UNIVERSITY
    355 GALVEZ STREET
    STANFORD,CA94305     		N/A PC SCHOLARSHIP 2,000
    TEACH FOR AMERICA NC PIEDMONT TRIAD
    PO BOX 398504
    SAN FRANCISCO,CA94139     		N/A PC GRANT 25,000
    THE GEORGE WASHINGTON UNIVERSITY
    525 FELLOWSHIP ROAD
    WASHINGTON,DC27752     		N/A PC SCHOLARSHIP 10,000
    UNC CHAPEL HILL CAROLINA COLLEGE ADVISING PROGRAM
    UNIVERSITY DEVELOPMENT C/O BANK OF
    AMERICA LOCKBOX SERVICES PO BOX 402
    ATLANTA,GA30384     		N/A PC GRANT 170,000
    UNC-CHAPEL HILL
    103 BYRUM HALL
    CHAPEL HILL,NC27599     		N/A PC SCHOLARSHIP 124,550
    UNC-CHARLOTTE
    9201 UNIVERSITY CITY BLVD
    CHARLOTTE,NC28223     		N/A PC SCHOLARSHIP 51,000
    UNC-GREENSBORO
    PO BOX 26177
    GREENSBORO,NC27402     		N/A PC SCHOLARSHIP 317,000
    UNC-WILMINGTON
    601 S COLLEGE RD
    WILMINGTON,NC28403     		N/A PC SCHOLARSHIP 37,500
    UNITED WAY OF GREATER GREENSBORO
    1500 YANCEYVILLE STREET
    GREENSBORO,NC27415     		N/A PC GRANT 50,000
    UNIVERSITY OF TENNESSEE
    211 STUDENT SERVICES BLDG
    KNOXVILLE,TN37996     		N/A PC SCHOLARSHIP 22,500
    VIRGINIA POLYTECHNIC INST& STATE UNIV
    800 WASHINGTON ST SW
    BLACKSBURG,VA24061     		N/A PC SCHOLARSHIP 10,000
    WAKE FOREST UNIVERSITY
    PO BOX 7246
    WINSTONSALEM,NC27109     		N/A PC SCHOLARSHIP 3,500
    WEST VIRGINIA UNIVERISTY
    PO BOX 6004
    MORGANTOWN,WV26506     		N/A PC SCHOLARSHIP 12,500
    WESTERN CAROLINA UNIVERSITY
    1 UNIVERSITY WAY HFR ADMINISTRATION
    BUILDING
    CULLOWHEE,NC28723     		N/A PC SCHOLARSHIP 31,500
    WINGATE UNIVERSITY
    CAMPUS BOX 3001
    WINGATE,NC28174     		N/A PC SCHOLARSHIP 16,000
    YWCA
    1807 EAST WENDOVER AVE
    GREENSBORO,NC27405     		N/A PC GRANT 25,000
    BACKPACK BEGINNINGS
    1852 BANKING ST 9024
    GREENBORO,NC27408     		N/A PC GRANT 50,000
    COKER UNIVERSITY
    300 E COLLEGE AVE
    HARTSVILLE,SC29550     		N/A PC SCHOLARSHIP 1,000
    COMMUNITIES IN SCHOOLS OF GREATER GREENSBORO
    122 N ELM STREET SUITE 301
    GREENSBORO,NC27401     		N/A PC GRANT 189,000
    DOWNTOWN GREENSBORO FOUNDATION
    536 SOUTH ELM STREET
    GREENSBORO,NC27406     		N/A PC GRANT 5,000
    FRIENDS OF THE NC STATE MUSEUM OF NATURAL
    PO BOX 26928
    RALEIGH,NC27611     		N/A PC GRANT 25,000
    GREENSBORO LITERARY ORGANIZATION
    304 S ELM ST
    GREENSBORO,NC27401     		N/A PC GRANT 30,000
    GROVE CITY COLLEGE
    100 CAMPUS DR
    GROVE CITY,PA16127     		N/A PC SCHOLARSHIP 4,099
    JOHN HOPKINS UNIVERSITY
    146 GARLAND HALL 3400 CHARLES ST
    BALTIMORE,MD21218     		N/A PC SCHOLARSHIP 500
    JUNIOR ACHIEVEMENT OF THE TRIAD INC
    3220 NORTHLINE AVE
    GREENSBORO,NC27408     		N/A PC GRANT 50,000
    MINGLEWOOD FARM AND NATURE PRESERVE
    238 MINGLEWOOD ROAD
    WESTFIELD,NC27053     		N/A PC GRANT 32,000
    QUEENS UNIVERSITY OF CHARLOTTE
    1900 SALWYN AVE
    CHARLOTTE,NC28274     		N/A PC SCHOLARSHIP 12,500
    READY FOR SCHOOL READY FOR LIFE
    PO BOX 13844
    GREENSBORO,NC27415     		N/A PC GRANT 50,000
    SALEM ACADEMY
    601 S CHURCH ST
    WINSTONSALEM,NC27101     		N/A PC GRANT 166,667
    THE ROTARY CAROUSEL LLC
    330 S GREEN ST SUITE 304
    GREENSBORO,NC27401     		N/A PC GRANT 10,000
    TREES NC
    PO BOX 1567
    ASHEBORO,NC27204     		N/A PC GRANT 88,000
    UNC-PEMBROKE
    PO BOX 1510
    PEMBROKE,NC28372     		N/A PC SCHOLARSHIP 5,000
    Total .................................bullet 3a 3,468,208
    bApproved for future payment
    BACKPACK BEGINNINGS
    1852 BANKING ST 9024
    GREENBORO,NC27408     		N/A PC GRANTGRANTGRANT 200,000
    COMMUNITIES IN SCHOOLS
    122 N ELM STREET SUITE 301
    GREENSBORO,NC27401     		N/A PC GRANT 144,000
    JUNIOR ACHIEVEMENT
    3220 NORTHLINE AVE
    GREENSBORO,NC27408     		N/A PC GRANT 100,000
    TEACH FOR AMERICA
    PO BOX 398504
    SAN FRANCISCO,CA94139     		N/A PC GRANT 25,000
    CFGG - ENDOWMENT TO ENGAGE YOUTH
    301 N ELM STREET SUITE 100
    GREENSBORO,NC27401     		N/A PC GRANT 10,000
    GREENSBORO CHILDREN'S MUSEUM
    220 N CHURCH ST
    GREENSBORO,NC27401     		N/A PC GRANT 125,000
    ACKLAND ART MUSEUM
    101 S COLUMBIA ST
    CHAPEL HILL,NC27599     		N/A PC GRANT 40,000
    GREENSBORO DAY SCHOOL
    5401 LAWNDALE DR
    GREENSBORO,NC27455     		N/A PC GRANT 15,000
    PRESERVATION GREENSBORO
    447 W WASHINGTON ST
    GREENSBORO,NC27401     		N/A PC GRANT 10,000
    Total .................................bullet 3b 669,000
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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 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 ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 133  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property...... 525990 16      
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property 525990 -453 14 453  
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		525990 87,898 18 3,769,490  
    9 Net income or (loss) from special events: 525990 -11,837      
    10 Gross profit or (loss) from sales of inventory     01    
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 83,904 5,367,647 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    5,451,551
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    4 INVESTMENT IN STATE BONDS FOR CONSISTENT INCOME TO FUND SCHOLARSHIPS
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    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) (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
    Sign Here
    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) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 55,305 11,061   44,244

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Name of Bond End of Year Book Value End of Year Fair Market Value
    PIMCO FUNDS 2,479,709 2,479,709

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BANK OF NORTH CAROLINA STOCK 21,191 21,191
    VANGUARD DIVIDEND FUND 15,585,322 15,585,322

    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BOSTWICK COMPOUND OFFSHORE LTD FMV 4,034,073 4,034,073
    CANYON DISTRESSED OPPORTUNITY FUND FMV 6,067 6,067
    CANYON DISTRESSED OPPORTUNITY FUND III FMV 737,427 737,427
    CANYON REALIZATION FUND FMV 3,070,403 3,070,403
    CASDIN PRIVATE GROWTH FMV 1,015,193 1,015,193
    CASDIN PRIVATE GROWTH EQUITY FUND II FMV 297,256 297,256
    DODGE AND COX FMV 2,093,208 2,093,208
    EDGEWOOD GROWTH FUND FMV 8,919,933 8,919,933
    GQG PARTNERS FUND FMV 996,882 996,882
    GS MEZZANINE V LP FMV 8,080 8,080
    GS WHITEHALL REAL ESTATE FUND FMV 18,174 18,174
    HARBINGER DISTRESSED DEBT FUNDS FMV 2,815 2,815
    INDUS ASIA PACIFIC FUND II FMV 24,089 24,089
    INDUS SELECT FUND FMV 3,602,356 3,602,356
    KABOUTER INTERNATIONAL FUND FMV 1,674,890 1,674,890
    LEXINGTON PARTNERS FMV 1,559,400 1,559,400
    MAVERICK STABLE FUND FMV 8,787,057 8,787,057
    MORGAN STANLEY RE OFFSHORE GLOBAL FUND FMV 49,092 49,092
    NEON LIBERTY EMERGING MKTS FMV 3,682,975 3,682,975
    NEWPORT ASIA INSTITUTIONAL FUND FMV 2,402,317 2,402,317
    NUT TREE DOWNDOWN FUND FMV 496,038 496,038
    SELECT EQUITY OFFSHORE FUND FMV 2,115,817 2,115,817
    SHEARWATER OFFSHORE SECURITIES FMV 2,276,815 2,276,815
    SPYGLASS CAPITAL FUND FMV 1,023,352 1,023,352
    DAVIDSON KEMPER INTERNATIONAL FMV 423,961 423,961

    TY 2021 LegalFeesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 114,430 114,320   110


    TY 2021 OtherExpensesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE SUPPLIES 3,142 515   2,062
    INSURANCE 15,901 3,180   12,721
    SANTA BARBARA ENVIRONMENTAL EXPENSE 435,756 435,756   0
    DUES AND SUBSCRIPTIONS 3,042 608   2,434


    TY 2021 OtherIncomeSchedule2
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    NEWPORT ASIA K-1 0 -28,669 0
    WHITEHALL K-1 0 -5,127 0
    NORTH HAVEN K-1 0 -165 0
    KABOUTER K-1 0 -20,559 0
    LEXINGTON K-1 0 -41,773 0
    LCP IX K-1 0 -761 0
    CASDIN GROWTH FUND K-1 0 -9,545 0
    CASDIN GROWTH FUND II K01 0 -229 0


    TY 2021 OtherIncreasesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Description Amount
    UNREALIZED GAINS 2,750,022


    TY 2021 OtherLiabilitiesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Description Beginning of Year - Book Value End of Year - Book Value
    INCOME TAX PAYABLE 14,831 27,730


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER PROFESSIONAL FEES 250 50   200
    INVESTMENT MANAGEMENT 128,828 128,828   0


    TY 2021 TaxesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INCOME TAXES 64,685 0   0
    PAYROLL TAXES 17,403 3,481   13,922
    FOREIGN INVESTMENT TAXES 0 4,544   0