TY 2024 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024

Name of foundation
RB TERRY CHARITABLE FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)500 EAST GREEN DRIVE SUITE 100
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
HIGH POINT, NC27260

A Employer identification number

56-2066238

B Telephone number (see instructions)

(336) 884-4151

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$202,473,941J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	1,578		1,578
4	Dividends and interest from securities...	977,362		977,362
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		17,911,402
b	Gross sales price for all assets on line 6a 28,553,433
7	Capital gain net income (from Part IV, line 2)...			17,911,402
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).......	List of Attached Documents: // Content	430	6,461,337
12	Total. Add lines 1 through 11........	18,890,772		25,351,679
13	Compensation of officers, directors, trustees, etc.	160,000		80,000	80,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	17,678	8,839	8,839
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	39,085	19,543	19,542
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	351,255	1,276	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	183,862	170,397	2,301
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	751,880		280,055	110,682
25	Contributions, gifts, grants paid.......	9,010,000			9,010,000
26	Total expenses and disbursements. Add lines 24 and 25	9,761,880		280,055	9,120,682
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	9,128,892
b	Net investment income (if negative, enter -0-)			25,071,624
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	3,595	29,769	29,769
	2	Savings and temporary cash investments.........	5,737,316	5,798,725	5,798,725
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	4,856,184	List of Attached Documents: // Content 5,014,841	5,014,841
	c	Investments—corporate bonds (attach schedule).......	2,183,368	List of Attached Documents: // Content 2,875	2,875
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	184,703,770	List of Attached Documents: // Content 191,627,731	191,627,731
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	List of Attached Documents: // Content 35,020	List of Attached Documents: // Content 0	List of Attached Documents: // Content 0
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	197,519,253	202,473,941	202,473,941
	17	Accounts payable and accrued expenses..........	147,000	146,000
	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 )	List of Attached Documents: // Content 0	List of Attached Documents: // Content 110,569
	23	Total liabilities (add lines 17 through 22).........	147,000	256,569
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	197,372,253	202,217,372
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		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).....	197,372,253	202,217,372
	30	Total liabilities and net assets/fund balances (see instructions).	197,519,253	202,473,941

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

197,372,253

Enter amount from Part I, line 27a .....................

9,128,892

Other increases not included in line 2 (itemize) right arrow

Add lines 1, 2, and 3 ..........................

206,501,145

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

4,283,773

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

202,217,372

Form 990-PF (2024)

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.)		(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	PUBLICLY TRADED SECURITIES	2024-01-01	2024-12-31
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	28,553,433	10,642,031	17,911,402
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			17,911,402
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	17,911,402
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 ...................		3

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	348,496
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	348,496
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	348,496
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	210,520
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	210,520
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	137,976
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax	Refunded	11

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. right arrow

$ 0(2) On foundation managers. right arrow

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

Yes

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Yes

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

N/A

The books are in care of right arrow

KYLE ODOM Telephone no. right arrow

(336) 889-3422

Located at right arrow

124 SCOTT AVEHIGH POINTNC ZIP+4 right arrow

27262

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... right arrow

and enter the amount of tax-exempt interest received or accrued during the year ........ right arrow

16 At any time during calendar year 2024, 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 right arrow

Form 990-PF (2024)

Page 5

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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 2024? .............

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)):

At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2024?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

Yes

If "Yes," did it have excess business holdings in 2024 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 2024.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2024? ..

Form 990-PF (2024)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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-)
ARCH K SCHOCH IV	PRESIDENT/DIRECTOR 0.50	40,000
PO BOX 1893 HIGH POINT,NC272611893	PRESIDENT/DIRECTOR 0.50	40,000
OSCAR FLETCHER	VP/SECRETARY/DIRECTOR 0.50	40,000
8811 CYPRESS LAKES DRIVE VILLA 409 RALEIGH,NC27615	VP/SECRETARY/DIRECTOR 0.50	40,000
JOE LIPE	COMMITTEE MEMBER 0.50	2,000
PO BOX 11429 CHARLOTTE,NC28220	COMMITTEE MEMBER 0.50	2,000
PARKER OVERTON	COMMITTEE MEMBER 0.50	8,000
3933 MONLEYS BRIDGE ROAD GRIMESLAND,NC27837	COMMITTEE MEMBER 0.50	8,000
SION A BONEY III	VP/DIRECTOR 0.50	40,000
200 TORY HILL FARM RD HILLSDALE,NY125296252	VP/DIRECTOR 0.50	40,000
CHARLES A ALT	TREASURER/DIRECTOR 0.50	40,000
512 OTTERAY AVENUE HIGH POINT,NC27262	TREASURER/DIRECTOR 0.50	40,000

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
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2024)

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
NONE

Total number of others receiving over $50,000 for professional services............. right arrow

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......................... right arrow

Form 990-PF (2024)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

189,114,058

Average of monthly cash balances.......................

15,299,893

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

204,413,951

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

204,413,951

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

3,066,209

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

201,347,742

Minimum investment return. Enter 5% (0.05) of line 5................

10,067,387

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.)

Minimum investment return from Part IX, line 6..................

10,067,387

Tax on investment income for 2024 from Part V, line 5 .......

348,496

Income tax for 2024. (This does not include the tax from Part V.) ...

1,483

Add lines 2a and 2b............................

349,979

Distributable amount before adjustments. Subtract line 2c from line 1............

9,717,408

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

9,717,408

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

9,717,408

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

9,120,682

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

9,120,682

Form 990-PF (2024)

Page 9

Part XII

Undistributed Income (see instructions)

	(a) Corpus	(b) Years prior to 2023	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7				9,717,408
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......			5,621,782
b Total for prior years:20 , 20, 20		0
3 Excess distributions carryover, if any, to 2024:
a From 2019......
b From 2020......
c From 2021......
d From 2022......
e From 2023......
f Total of lines 3a through e ........	0
4Qualifying distributions for 2024 from Part
XI, line 4: $ 9,120,682
a Applied to 2023, but not more than line 2a			5,621,782
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 2024 distributable amount.....				3,498,900
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2024.	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 2023. Subtract line 4a from line 2a. Taxable amount—see instructions .............			0
f Undistributed income for 2024. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2025 ..........				6,218,508
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 2019 not applied on line 5 or line 7 (see instructions) ...	0
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......	0
10 Analysis of line 9:
a Excess from 2020....
b Excess from 2021....
c Excess from 2022....
d Excess from 2023....
e Excess from 2024....

Form 990-PF (2024)

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 2024, enter the date of the ruling ...... right arrow

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2024	(b) 2023	(c) 2022	(d) 2021	(e) Total

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 right arrow

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2024)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
NC VETERINARY MEDICAL FOUNDATION 4700 HILLSBOROUGH STREET RALEIGH,NC27606		PC	UNRESTRICTED SUPPORT TO PROMOTE EDUCATIONAL ACTIVITIES IN THE FIELD OF VETERINARY MEDICINE.	4,500,000
SPCA OF THE TRIAD 3163 HINES CHAPEL ROAD GREENSBORO,NC27405		PC	UNRESTRICTED SUPPORT TO HELP RESCUE AND REHABILITATE ABUSED, NEGLECTED AND INJURED ANIMALS.	10,000
WOODBERRY FOREST SCHOOL 898 WOODBERRY FOREST ROAD WOODBERRY FOREST,VA22989		NC	UNRESTRICTED SUPPORT TO HELP FURTHER THE MISSION OF THE BOY'S SCHOOL.	4,500,000
Total ................................. 3a				9,010,000

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2024)

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	(e) Related or exempt function income (See instructions.)
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	1,578
4 Dividends and interest from securities ....			14	977,362
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....			14	430
8 Gain or (loss) from sales of assets other than inventory ............			18	17,911,402
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		18,890,772	0

13Total. Add line 12, columns (b), (d), and (e)..................

18,890,772

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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.)

Form 990-PF (2024)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2024 AccountingFeesSchedule

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	39,085	19,543		19,542

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Name of Bond	End of Year Book Value	End of Year Fair Market Value
PIMCO SHORT TERM FUND	2,875	2,875

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Name of Stock	End of Year Book Value	End of Year Fair Market Value
PINNACLE FINANCIAL PARTNERS	797,298	797,298
VANGUARD REAL ESTATE INDEX FUN	2,789,215	2,789,215
AON PLC CLASS A	66,804	66,804
AERCAP HOLDINGS NV	53,975	53,975
ALCOA CORP	29,393	29,393
ALPHABET INC CL C	83,032	83,032
AMAZON.COM INC	132,292	132,292
BAYER AG SPONSOERED ADR	26,025	26,025
ELEVANCE HEALTH INC	26,930	26,930
CAPITAL ONE FINANCIAL CORP	43,153	43,153
CHARTER COMMUNICATIONS	24,679	24,679
COMCAST CORP CLASS A	53,968	53,968
CONOCOPPHILLIPS	84,295	84,295
DISCOVER FINANCIAL SERVICES	13,858	13,858
META PLATFORMS INC CLASS A	83,728	83,728
GENERAL ELECTRIC CO.	30,590	30,590
HILTON WORLDWIDE HOLDINGS IN	29,412	29,412
HUMANA INC	38,310	38,310
ESTEE LAUDER COMPANIES CL A	16,646	16,646
LIBERTY BROADBAND A	5,726	5,726
LIBERTY BROADBAND C	12,485	12,485
LONDON STOCK EXCHG UNSP ADR	47,432	47,432
MICROSOFT CORP	63,225	63,225
PROSUS NV SPON ADR	51,062	51,062
SHELL PLC ADR	54,881	54,881
SAFRAN SA UNSPON ADR	28,340	28,340
SAP SE SPONSORED ADR	55,643	55,643
TAIWAN SEMICONDUCTOR SP ADR	51,150	51,150
UNITED HEALTH GROUP INC	54,127	54,127
VISA INC CLASS A SHARES	35,080	35,080
WELLS FARGO & CO	31,748	31,748
WOODWARD INC	34,283	34,283
WORKDAY INC CLASS A	66,056	66,056

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
ROCK SPRINGS CAPITAL OFFSHORE FUND LP	FMV	5,592,114	5,592,114
ORBIMED ROYALTY OPP II	FMV	31,672	31,672
FORTRESS CREDIT OPPS FD IV	FMV	760,831	760,831
COREALPHA PRIV EQ PTNS IV	FMV	393,429	393,429
INDUS SELECT FUND LTD	FMV	9,175,550	9,175,550
ROYAL OPPORTUNITIES FEEDER FD	FMV	136,256	136,256
KING STREET CAPITAL LTD	FMV	280,323	280,323
FORTRESS CRD OPP FD II (B) LP	FMV	252,228	252,228
AXIOM ASIA PRIVATE CAP FND	FMV	1,755,525	1,755,525
COMMONFUND CAPITAL PRIVATE EQUIT PARTNERS VIII	FMV	479,042	479,042
FORTRESS CREDIT OPP FD III (B)	FMV	36,601	36,601
ACTIS GLOBAL 4 A LP	FMV	864,000	864,000
DENHAM COMMODITY PTNS VI	FMV	517,169	517,169
GLYNN PARTNERS III LP	FMV	638,108	638,108
COMMONFUND NRP IX LP	FMV	1,201,031	1,201,031
GEM REALTY FUND V, LP	FMV	323,515	323,515
COMMONFUND CAPITAL EMERGING MARKETS 2013, LP	FMV	1,459,031	1,459,031
CLAYTON DUBILIER & RICE IX LP	FMV	1,937,889	1,937,889
YORKTOWN ENERGY PARTNERS X LP	FMV	451,674	451,674
GREENSPRING GLOBAL PRTNRS VI	FMV	1,609,551	1,609,551
FIR TREE REAL ESTATE FUND III	FMV	9,817	9,817
COATUE LONG ONLY OFFSHORE FUND, LTD	FMV	7,351,605	7,351,605
GQG PARTNERS EMERGING MARKETS EQ INV	FMV	6,074,676	6,074,676
DAVIDSON KEMPNER INSTITUTIONAL LP	FMV	4,842,149	4,842,149
FARALLON CAPITAL INST PARTNERS LP	FMV	5,936	5,936
FORTRESS CREDIT OPPORTUNITIES FD B LP	FMV	66,253	66,253
LEXINGTON CAPITAL PTNRS VII LP	FMV	105,118	105,118
SELECT EQUITY OFFSHORE LTD	FMV	3,531,682	3,531,682
BLUE OWL FIRST LIEN FUND II LP	FMV	744,027	744,027
CHAMBERS ENERGY CAPITAL V, LP	FMV	391,925	391,925
FARALLON R.E. PARTNERS IV LP	FMV	433,624	433,624
ALEUTIAN FUND LP	FMV	2,258,298	2,258,298
SOLEUS CAPITAL OFFSHORE LP	FMV	2,226,196	2,226,196
ENERGY SPECTRUM PARTNERS VII	FMV	796,817	796,817
GLYNN PARTNERS IV LP	FMV	2,001,748	2,001,748
AXIOM ASIA IV LP	FMV	2,038,140	2,038,140
FARALLON EQ PARTNERS INTL	FMV	8,099,528	8,099,528
GEM REALTY FUND VI LP	FMV	971,643	971,643
GLYNN PARTNERS V LP	FMV	1,718,302	1,718,302
OWL ROCK FIRST LIEN FUND, LP	FMV	2,729,036	2,729,036
AXIOM ASIA V LP	FMV	1,417,893	1,417,893
PARK WEST INVESTORS LTD	FMV	590,266	590,266
OWL ROCK TECH FINANCE	FMV	4,875,199	4,875,199
WOODSON CAP OFFSHORE FD	FMV	9,083,215	9,083,215
ATALAN OFFSHORE FUND, LTD	FMV	5,615,253	5,615,253
GREENSPRING GLOBAL OPP FUND LP	FMV	1,590,677	1,590,677
DURABLE CAPITAL OPP FUND LP	FMV	283,848	283,848
CASDIN PRIVATE GROWTH EQTY	FMV	1,427,864	1,427,864
BLACKSTONE REALESTATE PART X TE3 LP	FMV	583,950	583,950
IR M CORE BOND FUND II LLC	FMV	10,417,051	10,417,051
GCM GROSVENOR ADVANCE	FMV	1,666,235	1,666,235
AXIOM ASIA COINVESTMENT FD II	FMV	1,006,475	1,006,475
ALUA OFFSHORE FUND LTD	FMV	5,080,766	5,080,766
AVENIR GROWTH PAR III	FMV	1,806,587	1,806,587
JUNTO OFFSHORE FUND	FMV	8,540,538	8,540,538
TIGER GLOBAL PIP XV LP	FMV	1,340,360	1,340,360
CASDIN PRIVATE GROWTH II	FMV	1,660,679	1,660,679
5TH CENTURY PARTN FUND I	FMV	503,079	503,079
FULCRUM FUND LP	FMV	211,618	211,618
AVENIR GROWTH PARTN IV LP	FMV	1,839,868	1,839,868
WTC CFT RESEARCH EQUITY	FMV	3,076,007	3,076,007
COREALPHA VI LP CO INVESTMENT	FMV	1,136,630	1,136,630
GLYNN PARTNERS VI LP	FMV	462,225	462,225
LCP X LP	FMV	2,688,117	2,688,117
TCW DIRECT LENDING VIII LLC	FMV	931,513	931,513
CAP91 PARTNERS FUND LP	FMV	728,909	728,909
NUT TREE DRAWDOWN FUND II LP	FMV	801,338	801,338
THE CHILDRENS INVESTMENT FUND LP	FMV	5,074,500	5,074,500
COREALPHA PRIV EQ PART CO INV	FMV	2,498,591	2,498,591
AXIOM ASIA COINVEST FUND I	FMV	984,760	984,760
TCW DIRECT LENDING VII LLC	FMV	1,728,298	1,728,298
AEA INVESTORS VII LP	FMV	2,731,167	2,731,167
GOLUB CPAITAL PARTN INT 12 LP	FMV	3,150,000	3,150,000
CANYON DISTRESSED OPP FND III	FMV	2,418,790	2,418,790
CASDIN PARTNERS OFFSHORE, LTD	FMV	2,585,962	2,585,962
DURABLE CAPITAL OFFSHORE FND	FMV	6,902,805	6,902,805
GREENSPRING SECONDARIES FD IV	FMV	2,151,725	2,151,725
LEXINGTON CAPITAL PARTNERS IX	FMV	4,525,797	4,525,797
NUT TREE DRAWDOWN OFF FND LP	FMV	1,770,265	1,770,265
CHAMBERS ENERGY CAPITAL IV, LP	FMV	1,053,383	1,053,383
FARALLON R.E. PARTNERS III	FMV	1,747,755	1,747,755
AXIOM ASIA VI LP	FMV	1,077,985	1,077,985
AKO GLOBAL LONG ONLY	FMV	6,017,000	6,017,000
YORKTOWN ENERGY PARTNERS XI	FMV	1,550,729	1,550,729

- TIN:

TY 2024 LegalFeesSchedule

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES	17,678	8,839		8,839

- TIN:

TY 2024 OtherAssetsSchedule

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
REFUNDABLE TAXES	35,020	0	0

- TIN:

TY 2024 OtherDecreasesSchedule

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Description	Amount
DECREASE IN INVESTMENTS TO FAIR VALUE	4,283,773

- TIN:

TY 2024 OtherExpensesSchedule

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
INVESTMENT FEES	158,098	158,098	0
BANK CHARGES	91	45	46
INSURANCE	2,275	1,137	1,138
INVESTMENT COMMITTEE FEES	10,000	10,000	0
MEALS	1,177	294	295
PENALTIES	10,576	0	0
DUES	1,645	823	822

- TIN:

TY 2024 OtherIncomeSchedule2

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
PARTNERSHIP INCOME		6,460,907
OTHER INCOME	430	430	430

- TIN:

TY 2024 OtherLiabilitiesSchedule

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Description	Beginning of Year - Book Value	End of Year - Book Value
TAXES PAYABLE	0	110,569

- TIN:

TY 2024 TaxesSchedule

Name:

RB TERRY CHARITABLE FOUNDATION INC

EIN:

56-2066238

Category	Amount	Net Investment Income
EXCISE TAX	348,496	0
FOREIGN TAX	215	215
STATE UBIT	1,061	1,061
FEDERAL UBIT	1,483	0