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Z 3 0 T o t a l n e t a s s e t s o r f u n d b a l a n c e s 19,559,108. 21,654,734.3 1 T o t a l l i a b i l i t i e s and n e t a s s e t s t f u n d b a l a n c e s 19,559,108. 1 21,654,734. 1p l i l Analysis o f Changes i n Net Assets or Fund Balances

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Part v I uualiTIcatlon UngerJection 4!!4u(e) Tor Iieaucea i ax on Net investment income( F o r o p ti o na l us e by domestic p r i v a t e foundations s u b j e c t to t h e s e c t i o n 4940(a) t a x on n e t investment income.)I f s e c t i o n 4 9 4 0 ( d ) ( 2 ) a p p l i e s , l e a v e t h i s p a r t b l a n k .Wa s t h e f o u n d a t i o n l i a b l e f o r th e s e c t i o n 4942 ta x o n t h e d i s t r i b u t a b l e amount o f a n y y e a r i n th e b a s e p e r i o d ? . . . OesoI f ' Y e s , th e f o u n d a t i o n d o e s n o t q u a l i f y u n d e r s e c t i o n 4940 ( e ) . Do n o t c o m p l e t e t h i s p a r tI E n t e r th e a p p r o p r i a t e amount i n e a c h column f o r e a c h y e a r , s e e i n s t r u c t i o n s b e f o r e m a k i n g a n y e n t r i e s .

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D a t e o f r u l i n g l e t t e r. ( a t t a c h c o p y o f r u l i n g l e t t e r i f n e c e s s a r y - s e e I n s t r u c t i o n s ) _b D o m e s t i c f o u n d a t i o n s t h a t m e e t t h e s e c t i o n 4940 ( e ) r e q u i r e m e n t s i n P a r t V , c h e c k h e r e ^On d e n t e r 1 % 1

o f P a r t I , l i n e 2 7 b . . . .c A l l o t h e r d o m e s t i c f o u n d a t i o n s e n t e r 2% o f l i n e 27 b . Exempt f o r e i g n o r g a n i z a t i o n s e n t e r 4% o f P a r t 1 , l i n e 1 2 , c o l . ( b )

2 Tax u n d e r s e c t i o n 5 1 1 ( d o m e s t i c s e c t i o n 4947 ( a ) ( 1 ) t r u s t s a n d t a x a b l e f o u n d a t i o n s o n l y . O t h e r s e n t e r - 0 - ) 23 A d d l i n e s 1 a n d 2 34 S u b t i t l e A ( i n c o m e ) t a x ( d o m e s t i c s e c t i o n 4 9 4 7 ( a ) ( 1 ) t r u s t s a n d t a x a b l e f o u n d a t i o n s o n l y . O t h e r s e n t e r - 0 - ) 45 Tax based o n I n v e s t m e n t Income . S u b t r a c t l i n e 4 f r o m l i n e 3 . I f z e r o o r l e s s , e n t e r - 0 - 66 C r e d i t s / P a y m e n t s :a 2 0 0 7 e s t i m a t e d t a x p a y m e n t s a n d 2 0 0 6 o v e r p a y m e n t c r e d i t e d t o 2 0 0 7 8 a 1 3 , 464.b E x e m p t f o r e i g n o r g a n i z a t i o n s - - t a x -w i t h h e l d a t s o u r c e 6 bc T a x p ai d w i th a p p l i c a t i o n f o r e x t e n s i o n o f t i m e t o f i l e ( Form 8 8 6 8 ) 6 cd Backup w i t h h o l d i n g e r r o n e o u s l y w i t h h e l d . . . , 6d

7 T o ta l c r ed i t s and payments . A dd l i n e s 6 a t h r o u g h 6d 78 E n t e r a n y p e n a i t y f o r u n d e r p a y m e n t o f e s t i m a t e d t a x Check h e r e [] i f Form 2220 i s a t t a c h e d . . . . . . 89 Tax du e . I f t h e t o t a l o f l i n e s 5 a n d 8 i s more t h a n l i n e 7 , e n t e r amount owed . ^ 9

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b D i d i t s p e n d more t h a n $100 d u r i n g t h e y e a r ( e i t h e r d i r e c t l y o r i n d i r e c t l y ) f o r p o l i t i c a l p u r p o s e s ( s e e i n s t r u c t i o n s f o r d e f i n i t i o n ) ?I f t h e answer i s ' Y e s ' t o l a o r 1 b , a t t a c h a d e t a i l ed d e s c r i p ti o n o f t h e a c t i v i t i e s and copies o f any m a t e r i a l s published o rd i s t r i b u t e d b y t h e foundation i n connection w i t h t h e a c t i v i t i e s .

c D i d t h e f o u n d a t i o n f i l e Form 1120-POL f o r t h i s y e a r ? . . .d E n t e r t h e amount ( d a n y ) o f t a x o n p o l i t i c a l e x p e n d i t u r e s ( s e c t i o n 4 9 5 5 ) i m p o s e d d u r i n g t h e y e a r .

( 1 ) On t h e f o u n d a t i o n . ^$ 0. ( 2 ) On f o u n d a t i o n m a n a g e r s . l o p - $ 0e E n t e r t h e r e i m b u r s e m e n t ( d a n y ) p a i d b y t h e f o u n d a t i o n d u r i n g t h e y e a r f o r p o l i t i c a l e x p e n d i t u r e t a x imposed o n f o u n d a t i o n

m a n a g e r s . ^ 0.2 Ha s t h e f o u n d a t i o n engaged i n a n y a c t i v i t i e s t h a t h a v e n o t p r e v i o u s l y b e e n r e p o r t e d t o t h e I R S ?

I f ' Y e s , ' a t t a c h a d e t a i le d d e s c r i p ti o n o f t h e a c t i v i t i e s .3 Has t h e f o u n d a t i o n made a n y c h a n g e s , n o t p r e v i o u s l y r e p o r t e d t o t he I RS , i n i t s g o v e r n i n g i n s t r u m e n t , a r t i c l e s o f i n c o r p o r a t i o n , o r

b y l a w s , o r o t h e r s i m i l a r i n s t r u m e n t s ? I f ' Y e s , ' a t t a c h a conformed copy o f t h e changes .4 a D i d t h e f o u n d a t i o n h a v e u n r e l a t e d b u s i n e s s g r o s s income o f $ 1 , 0 0 0 o r more d u r i n g t h e y e a r ?b I f ' Ye s , h a s i t f i l e d a t a x r e tu r n on Form 9 9 0 - T f o r t h i s y e a r ? . . , N/A

5 Wa s t h e r e a l i q u i d a t i o n , t e r m i n a t i o n , d i s s o l u t i o n , o r s u b s t a n t i a l c o nt r ac ti o n d u r i n g t h e y e a r ?I f ' Y e s , ' a t t a c h t h e statement r e q u i r e d b y General I n s t r u c t i o n T .

6 A r e t h e r e q u i r e m e n t s o f s e c t i o n 5 0 8 ( e ) ( r e l a t i n g t o s e c t i o n s 4 9 4 1 t h r o u g h 4 9 4 5 ) s a t i s f i e d e i t h e r . B y l a n g u a g e i n t h e g o v e r n i n g i n s t r u m e n t , o r By s t a t e l e g i s l a t i o n t h a t e f f e c t i v e l y amends t h e g o v e r n i n g i n s t r u m e n t s o t h a t n o m a n d a t o r y d i r e ct i o n s t h at c o n f l i c t w i t h t h e s t a t e l a w

r e m a i n i n t h e g o v e r n i n g i n s t r u m e n t?7 D i d t h e f o u n d a t i o n h a v e a t l e a s t $ 5 , 0 0 0 i n a s s e t s a t a n y t i m e d u r i n g t h e y e a r ?

I f ' Y e s , ' complete P a r t 1 1 , c o l . ( c ) , and P a r t X V .8 a E n t e r t h e s t a t e s t o w h i c h t h e f o u n d a t i o n r e p o r t s o r w i t h w h i c h i t i s r e g i s t e r e d ( s e e i n s t r u c t i o n s ) ^NC

b I f t h e a n s w e r i s ' Y e s ' t o l i n e 7 , h a s t h e f o u n d a t i o n f u r n i s h e d a c o p y o f Form 9 9 0 - P F t o t h e A t t o r n e y G e n e r a l ( o r d e s i g n a t e )o f e a c h s t a t e a s r e q u i r e d b y General I n s t r u c t i o n G? I f ' N o , ' a t t a c h e x pl a n a t i o n _

9 I s t h e f o u n d a t i o n c l a i m i n g s t a t u s a s a p r i v a t e o p e ra t i n g f o u n d a t i on w i t h i n t h e m e a n i n g o f s e c t i o n 4 9 42 ( 1 )( 3 ) o r 4 9 42 ( 1 ) ( 5) f o r c a l e n d a ry e a r 2007 o r t h e t a x a b l e y e a r b e g i n n i n g i n 2007 ( s e e i n s t r u c t i o n s f o r P a r t X I V ) ? I f ' Y e s , ' complete P a r t XI V

10 Did any persons become s u b s t a n t i a l c o n t r i b u t o r s during t h e t a x year? i f - Y e s . - a tt ac h a s c h e d u l e I i s t l n a t h e i r names a n d a d d r e s s e s

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F o r m 9 9 0 - P F ( 2 0 0 7 ) Z. SMITH REYNOLDS FOUNDATI 8-6038145 P a. 1 1 a A t a n y t i m e d u r i n g t h e y e a r , d i d t h e f o u n d a t i o n , d i r e c t l y o r i n d i r e c t l y , own a c o nt r ol l e d e n t i t y w i t h i n t h e meaning o f s e c t i o n 5 1 2 ( b ) ( 1 3 ) ?

I f ' Y e s ; a t t a c h s c h e d u l e . ( s e e i n s t r u c t i o n s ) .11.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b I f ` Y e s ; d i d t h e f o u n d a t i o n h a v e a b i n d i n g w r i tt e n c o n t r ac t i n e f f e c t o n A u g u s t 1 7 , 2 0 0 7 , c o v e r i n g t h e i n t e r e s t , r e n t s , r o y a l t i e s , a n d

a n n u i t i e s d e s c r i b e d i n t h e a t t a c h m e n t f o r l i n e 1 l a ? N/A , 1 1 b1 2 D i d t h e f o u n d a t i o n a c qu i r e a d i r e c t o r i n d i r e c t i n t e r e s t i n a n y a p p l i c a b l e i n su r a nc e c o n t r ac t ? . . . 1 21 3 D i d t h e f o u n d a t i o n comply w i th t h e p u b li c i ns p ec t io n r e q u i r e m e n t s f o r i t s a n n u a l r e t u r n s an d e x e m p t i o n a p p l i c a t i o n ? 1 3 X

W e b s i t e a d d r e s s ^ WWW.ZSR.ORG1 4 T h e b o o k s a r e i n c a r e o f ^ BARBARA MABE T e l e p h o n e n o . ^3 3 6 - 7 2 5 - 7 5 1

Locatedat. 147 S. CHERRY ST, ST 200 WINSTON-SALEM, NC ZIP+4.27101-52871 5 S e c t i o n 4 9 4 7 ( a ) ( 1 ) n o n e x e m p t c h a r i t a b l e t r u s t s f i l i n g F o r m 9 9 0 - P F I n l i e u o f F o r m 1 0 4 1 - C h e c k h e r e ^

an d e n t e r t h e amount o f t a x - e x e m p t i n t e r e s t r e c e i v e d o r a c c r u e d d u r i n g t h e y e a r ^ 1 5 I N/A

F i l e Form 4720 I f a n y i te m I s ch e ck e d I n the Ye e colu mn, unless a n exception a p p l i e s . Yes N1 a D u r i n g t h e y e a r d i d t h e f o u n d a t i o n ( e i t h e r d i r e c t l y o r i n d i r e c t l y ) :

( 1 ) Engage i n t h e s a l e o r e x c h a n g e , o r l e a s i n g o f p r o p e r t y w it h a d i s q u a l i f i e d p e r s o n ? . . . _ . . . . 0eso( 2 ) Borrow m o n e y f r o m , l e n d money t o , o r o t h e r w i s e e x t e n d c r e d i t t o ( o r a c c e p t i t f r o m )

a d i s q u a l i f i e d p e r s o n ? . . . . Qeao( 3 ) F u r n i s h g o o d s , s e rv ic e s, o r f a c i l i t i e s t o ( o r a c c e p t them f r o m ) a d i s q u a l i f i e d p e r s o n ? .=Yes [X]No( 4 ) P a y c o m p e ns a t i o n t o , o r p a y o r r e i m b u r s e t h e e x p e n s e s o f , a d i s q u a l i f i e d p e r s o n ? es C] No( 5 ) T r a n s f e r a n y i n c o m e o r a s s e t s t o a d i s q u a l i f i e d p e r s o n ( o r make a n y o f e i t h e r a v a i l a b l e

f o r t h e b e n e f i t o r u s e o f a d i s q u a l i f i e d p e r s o n ) ? . . . [l Yeso. . ... . . .... . . . .( 8 ) A g r e e t o p a y money o r p r o p e r t y t o a government o f f i c i a l ? ( E x c e p t i o n . C h e c k ' N o *

i f t h e f o u n d a t i o n a g r e e d t o make a g r a n t t o o r t o employ t h e o f f i c i a l f o r a p e r i o d a f t e rt e r m i n a t i o n o f government s e r v i c e , i t t e r m i n a t i n g w i t h i n 9 0 d a y s . ) . . . . . . . . 0eso

b I f a n y a n s w e r i s ' Y e s ' t o l a ( 1 ) - ( 6 ) , d i d a n y o f t he a c t s f a d t o q u a l i t y u n d e r t h e e x c e p t i o ns d e s c r i be d i n R e g u l a t i o n ss e c t i o n 5 3 . 4 9 4 1 ( d ) - 3 o r i n a c u r r e n t n o t i c e r e g a r d i n g d i s a s t e r a s s i s t a n c e ( s e e p a g e 22 o f t h e i n s tr u c t io n s )? l b XO r g a n i z a t i o n s r e l y i n g o n a c u r r e n t n o t i c e r e g a r d i n g d i s a s t e r a s s i s t a n c e c h e c k h e r e . . . . . . . . ^0c D i d t h e f o u n d a t i o n engage i n a p r i o r y e a r i n a n y o f t h e a ct s d e s c r i b e d i n l a , o t h e r t h a n e x c e p t e d a c t s , t h a t w e r e n o t c o r r e c t e d

b e f o r e t h e f i r s t d a y o f t h e t ax y e a r b e g i n n i n g i n 2007? 1 c2 T a x e s o n f a i l u r e t o d i s t r i b u t e income ( s e c t i o n 4 9 4 2 ) ( d o e s n o t a p p l y f o r y e a r s t h e f o u n d a t i o n wa s a p r i v a t e o p e r a t in g f o u nd a ti o n

d e f i n e d i n s e c t i o n 4 9 4 2 ( 1 )( 3 ) o r 4 9 4 2 ( 1 ) ( 5 ) ) :a A t t h e e n d o f t a x y e a r 2 0 0 7 , d id t he f o u n d a t i o n h a v e a n y u n d i s t r i b u t e d i n c o m e ( l i n e s 6d a n d B e , P a r t X I I I ) f o r t a x y e ar ( s ) b e g i n n i n g

b e f o r e 2007? El YesoI f ' Y e s , ' l i s t t h e y e a r s^

b A r e t h e r e a n y y e a r s l i s t e d i n 2 a f o r w h i c h t h e f o u n d a t i o n i s n o t a p p l y i n g t h e p r o v i s i o n s o f s e c t i o n 4 9 4 2 ( a ) ( 2 ) ( r e l a t i n g t o i n c o r r e c tv a l u a t i o n o f a s s e t s ) t o t h e y e a r ' s u n d i s t r i b u t e d income? ( I f a p p l y i n g s e c t i o n 4 9 4 2 ( a ) ( 2 ) t o a l l y e a r s l i s t e d , a n s w e r ' N o ' a n d a t t a c hs t a t e m e n t - s e e i n s t r u c t i o n s . ) _ . . . . . . . _ . . . . . . . _ . _ . . . . . . . . N/A 2 bc I f t h e p r o v i s i o n s o f s e c t i o n 4 9 4 2 ( a ) ( 2 ) a r e b e i n g a p p l i e d t o an y o f t h e y e a r s l i s t e d i n 2 a, l i s t t h e y e a r s h e r e .^

3 a D i d t h e f o u nd a t i o n h o l d more t h a n a 2% d i r e c t o r i n d i r e c t i n t e r e s t i n a n y b u s i n e s s e n t e r p r i s e a t a n y t i m ed u r i n g t h e y e a r ? . . . _ . . . [eso

b I f ' Y e s ; d i d i t h a ve e x c e s s b u s i ne s s h o l d i n g s i n 2007 a s a r e s u l t o f ( 1 ) a n y p u r c h a s e b y t h e f o u n d a t i o n o r d i s q u a l i f i e d p e r s o n s a f t e rMa y 2 6 , 1 9 6 9 ; ( 2 ) t h e l a p s e o f t h e 5 - y e a r p e r i o d ( o r l o n g e r p e r i o d a p p r o v e d b y t h e Commissioner u n d e r s e c t i o n 4 9 4 3 ( c ) ( 7 ) ) t o d i s p o s eo f h o l d i n g s a c q u i r e d b y g i f t o r b e q u e s t ; o r ( 3 ) t h e l a p s e o f t h e 1 0 - , 1 5 - , o r 2 0 - y e a r f i r s t p h a s e h o l d i n g p e r i o d ? (Use Schedule C ,For m 4720, t o determine i f t h e foundation ha d excess business h o l d i n g s i n 2 0 0 7 . ) . . . _ N/A 3b

4 a D i d t h e f o u n d a t i o n i n v e s t d u r i n g t h e y e a r a n y amount i n a manner t h a t w o u l d j e o p a r d i z e i t s c h a r i t a b l e p u r p o s e s ? . . . . Xb D i d t h e f o u n d a t i o n make a n y i n v e s t m e n t i n a p r i o r y e a r ( b u t a f t e r December 3 1 , 1 9 6 9 ) t h a t c o u l d j e o p a r d i z e i t s c h a r i t a b l e p u r p o s e t h a tTa d n o t b e e n removed f r o m oa r b e f o r e t h e f i r s t d a y o f t h e t a x y e a r b e i n n i n i n 2007? 4 1 XF o r m 990 -PF ( 2 0 0

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55 D u r i n g t h e y e a r d i d t h e f o u n d a t i o n p a y o r i n c u r a n y amount t o .( 1 ) C a r r y o n p r o p a g a n d a , o r o t h e r w i s e a t t e m p t t o i n f l u e n c e l e g i s l a t i o n ( s e c t i o n 4945 ( e ) ) ? Qes No( 2 ) I n f l ue nc e t h e outcome of a n y s p e c i f i c p u b l i c e l e c t i o n ( s e e s e c t i o n 4955 ) ; or t o c a r r y o n , d i r e c t l y o r i n d i r e c t l y ,

a n y v o t e r r e g i s t r a t i o n d r i v e ? . . . . . . . . [J Y e so( 3 ) P r o v i d e a g r a n t t o a n i n d i v i d u a l f o r t r a v e l , s t ud y , o r o t h e r s i m i l a r p u r p o s e s ? . . . . . . , . . es0o( 4 ) P r o v i d e a g ra nt t o a n o r g a n i z a t i o n o t h e r t h a n a c h a r i t a b l e , e t c . , o r g a n i z a t i o n d e s c r i b e d i n s e c t i o n

5 0 9 ( a ) ( 1 ) , ( 2 ) , o r ( 3 ) , o r s e c t i o n 4 9 4 0 ( d ) ( 2 ) ? _ _ . . _ . . . . . . . . . . . . . . . 0e so( 5 ) P r o v i d e f o r a n y p u r p os e o th e r t h a n r e l i g i o u s , c h a r i t a b l e , s c i e n t i f i c , l i t e r a r y , or e d u c a t i o n a l p u r p o s e s , o r f o r

t h e p r e v e n t i o n o f c r u el t y t o c h i l d r e n or a n i m a l s ? . . -. [1 Ye sob I f a n y answer i s ' Y e s ' t o 5 a ( 1 ) - ( 5 ) , d i d a n y o f t h e t r a n s a c t i o n s f a i l t o q u a l i t y u n d e r t h e e x c e p ti o ns d e s c r ib e d i n R e g u l a t i o n s

s e c t i o n 5 3 . 4 9 4 5 o r i n a c u r r e n t n o t i c e r e g a r d i n g d i s a s t e r a s s i s t a n c e ( s e e i n s t r u c t i o n s ) ? t i bO r g a n i z a t i o n s r e l y i n g o n a c u r r ent n o t i c e r e g a r d i n g d i s a s t e r a s s i s t a n c e c h e c k h e r e L-i

c I f t h e answer i s ' Y e s ' t o q u e s t i o n 5 a ( 4 ) , d o e s t h e f o u n d a t i o n c l a i m e x e m p t i o n f r o m t h e ta x b e c a u s e i t m a i n t a i n e de x p e n d i t u r e r e s p o n s i b i l i t y f o r t h e g r a n t? N/A. . [] Ye s0oI f ' Y e s , ' a t t a c h t h e statement r e q u i r e d by Regulations s e c ti o n 5 3 . 4 9 4 5 - 5 ( d ) .

8 s D i d t h e f o u n d a t i o n , d u r i n g t h e y e a r , r e c e i v e a n y f u n d s , d i r e c t l y o r i n d i r e c t l y , t o p a y premiums o na p e r s o n a l b e n e f i t c o n t r a c t ? Qeso

b D i d t h e f o u n d a t i o n , d u r i n g t h e y e ar , p a y premiums , d i r e c t l y or i n d i r e c t l y , o n a p e r s o n a l b e n e f i t c o n t r a c t ? 8bI f y ou a n s w er e d ' Yes" t o 6b , a l s o r i l e Form 8870.

7s A t a n y t i m e d u r i n g t h e ta x y e a r , w as t h e f o u nd a t io n a p a r t y t o a p r o h i b i t e d t a x s h e l te r t r a n s a c t i o n ? _ . . . LI Ye sob I f y e s , d i d t h e f o u n d a t i o n r e c e i v e a n y p r o c e e d s or h a v e a n y n e t i n c o m e a t t r i b u t a b l e t o t h e t r a ns a c t i on ? N/A 7 b

Part V I I I Information About O f f i c e r s , Directors , Trustees, Foundation M a n a g e r s , Highlyi l0a d Emp oyees , a n d Contractors1 L i s t a l l o f f i c e r s , d i r e c t o r s , trustees , foundation m a n a g er s a n d t h e i r c ompens ation.( a ) N ame a n d a d d r e s s ( b ) T i t l e , an d a v e r a g eh o u r s p e r week d e v o t e dto p o s i t i o n ( c ) C o m pen sa tio n( I t n o t p a i d,e n t e r - 0 - ) C o n t i l b u o n s t oam p t ie ^ b e n e f i t p t a n sc o m p e n s a t i o n ( e)Ex p e n sa c c o u n t , o ta l l o w a n c eSEE STATEMENT 6 372,595. 77,977.

2 Compensat i o n o f f i ve highest - p a i d empl oyees ( o t h e r t h an t h ose I n c u on ne 1 . none , enter'( a ) N a m e an d a d d r e s s o f e a c h e m p l o y e e p a i d more t h a n $ 5 0 , 0 0 0 ( b ) T i t l e a n d a v e r a g ehours p e r weekd e v o t e d t o p o s i t i o n ( c ) C o m p e n s a t i o n

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MARY FANT DONNAN PROGRAM OFFIC ER8 10 CLOVELLY ROA D , WINSTON-SALEM, NC 40.00 78,120. 25,437.BARBARA ROOLE PROGRAM OFFICER4 5 4 PEYTON COURT, WINSTON-SALEM, NC 40.00 67,200. 13,041.TRACEY S. TOUSEY PROGRAM OFFIC ER517 MCALWAY ROAD, CHARLOTTE, NC 282 40.00 65,323. 12,189.BARBARA MABE OORREEPER / IN ASST1033 FAIN R OA D , WESTFIELD, NC 2 7 0 5 3 40.00 51,176. 21,317.

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3 Five highest - paid I ndependen t contractors f o r professional services . I f n o n e , enter NONE.4( a ) Name a n d a d d r e s s o f e a c h p e r s o n p a i d more t h a n $5 0 , 00 0 ( b ) Type o f s e r v i c e ( c ) C o m p e n s a t

BROOKS, PIERCE, MCLENDON, HUMPHREY & LEONARD230 NORTH ELM ST., SUITE 2000 , GREENSBORO , NC LEGAL SERVICES 75,386RALPH SIMPSON & ASSOCIATES PUBLIC RELATIONS &P 0 BOX 194 , WINSTON-SALEM, NC 27102 VIDEO PRODUCTIONS 97,787JFK CONSULTING GROUP INC STRATEGIC BUSINESS2950 HOPE VALLEY ROAD, WINSTON-SALEM, NC 2710 P LANNING & ASSESSME 98,465

T o t a l n u m b e r o f o t h e r s r e c e i v i n g o v e r $ 5 0 , 0 0 0 f o r p r o f e s s i o n a l s e r v i c e s . . . . . _ . . _ . . _ _ _ _ ^Part IX-AI Summary o f Direct Charitable A c t i v i t i e sL i s t t h e f o un d a t io n ' s f ou r l a r g e s t d i r e c t c h a r i t a b l e a c t i v i t i e s d u r i n g t h e t a x y e a r . I n c l u d e r e l e v a n t s t a t i s t i c a l i n f o r m a t i o n s u c h a s t h e I E x p e n s e snumber o f o r g a n i z a t i o n s a n d o t h e r b e n e f i c i a r i e s s e r v e d , c o n f e r e n c e s c o n v e n e d , r e s e a r c h p a p e r s p r o d u c e d , e t c .

TEMENT A

3

568,423

4

Part I X - 1 3 1 Summary o f P rogram-Re l at e d I n v e s t m e n t sD e s c r i b e t h e t w o l a r g e s t p r o g r a m - re l a t ed i n v es t m en t s mad e b y t h e f o u n d a t i o n d u r i n g t h e t a x y e a r o n l i n e s 1 and 2 . Amount

1 NONE

2

A l l o t h e r p r o g r a m - r e l a t e d i n v e s t m e n t s . S e e i n s t r u c t i o n s .3 NONE

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F o r m 9 9 0 - P F ( 2 00 7 ) Z. SMITH REYNOLDS FOUNDATION, INC. 5 8-6038145 P a g ePart 7 C Minimum Investment Return ( A l l d o m e s t i c f o u n d a t i o n s must c o m p l e t e t h i s p a r t . F o r e i g n f o u n d a t i o n s , s e e I n s t r u c t i o n s . )

1 F a i r m a r k e t v a l u e o f a s s e t s n o t u s e d ( o r h e l d f o r u s e ) d i r e c t l y i n c a r r y i n g o u t c h a r i t a b l e , e t c . , p u r p o s e s :a A v e r ag e m o n th l y f a i r m a r k e t v a l u e o f s e c u r i t i e s . . . . . . . . . . . . . . 1 a 13,189,000D A v e r a g e of m o n t h l y c a s h b a l a n c e s . . . .. . .... . . . .. .. ...... . . . . . . . l b 5 0 , 8 3 9c F a i r m a r k e t v a l u e o f a l l o t h e r a s s e t s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 cd T o t a l ( a d d l i n e s l a , b , a n d c ) . - . . . . . . , 1 d 13,239,839a R e d u c t i o n c l a i m e d f o r b l o c k a g e o r o t h e r f a c t o r s r e p o r t e d o n l i n e s l a a n d

1 c ( a t t a c h d e t a i l e d e x p l a n a t i o n ) . . . . . . . . . . . . . . . . . . . . 1 e 0 .2 A c q u i s i t i o n i n d e b t e d n e s s a p p l i c a b l e t o l i n e 1 a s s e t s 2 03 S u b t r a c t l i n e 2 f r o m l i n e l d 3 13,239,8394 Cash deemed h e l d f o r c h a r i t a b l e a c t i v i t i e s . E n t e r 1 1/2% o f l i n e 3 ( f o r g r e a t e r amoun t , s e e i n s t r u c t i o n s ) 4 98,598

-5 N e t v a l ue o f n o n c h a r l t a b l e - u s e a e s i t e . S u b t r a c t l i n e 4 f r o m l i n e 3 . E n t e r h e r e a n d o n P ar t V , l i n e 4 5 13, 0 1 , 2 18 Minimum I n v e s t m e n t r e t u r n . E n t e r 5% o f l i n e 5 6 652,062P w Distributable Amount ( s e e I n s t r u c t i o n s ) ( S e c t i o n 4 9 4 2 ( j ) ( 3 ) a n d ( I ) ( 5 ) p r i v a t e o p e r a t i n g f o u n d a t i o n s a n d c e r t a i n

f o r e i g n o r g a n i z a t i o ns c h e c k h e r e ^[]and d o n o t c o m p l e t e t h i s p a r t . )1 Minimum i n v e s t m e n t r e t u r n f r o m P a r t X . l i n e 6 . . . . . . . . . . . - - - 1 652,0622a T a x o n i n v e s t m e n t i n c o m e f o r 2007 f r o m P a r t V I , l i n e 5 2 a 13,464.b Income t a x f o r 2 0 0 7 . ( T h i s d o e s n o t i n cl u de t h e t a x f r o m P a r t V I . ) 2 bc Ad d l i n e s 2 a a n d 2 b . . . . . . - 2 c 13,464

3 D i s t r i b u t a b l e a m o u n t b e f o r e a d j u st m e nt s . S u b t r a ct l i n e 2 c f r o m l i n e 1 3 6 3 8 , 5 94 R e c o v e r i e s o f amounts t r e a t e d a s q u a l i f y i n g d i s t r i b u t i o n s . . . . 4 12,2065 Ad d l i n e s 3 a n d 4 - 5 50,808 D e d uc t i o n f r om d i s t r i b u t a b l e amount ( s e e i n s t r u c t i o n s ) 8 07 D i s t r i b u t a b l e amount a s a d j u s t e d . S u b t r a c t l i n e 6 f r o m l i n e 5 . E n t e r h e r e a n d o n P a r t X I I I , l i n e 1 7 650,804FP-ar-t-W Qualifying D i s t r i b u t i o n s ( s e e i n s t r u c t i o n s )

1 Amounts p a i d ( i n c l u d i n g a d m i n i s t r a t iv e e x p e n s e s ) t o a c c o m p l i s h c h a r i t a b l e , e t c . , p u r p o s e s :a E x p e n s e s , c o n t r i b u t i o n s , g i f t s , e t c . - t o t a l f r o m P a r t I , column ( d ) , l i n e 26 - . . 1 a 19,885,988b P r o g r a m - r e l a t e d i n v e s t m e n t s - t o t a l f r o m P a r t I X - B 1 b 0

2 Amounts p a i d t o a c q u i r e a s s e t s u s e d ( o r h e l d f o r u s e ) d i r e c t l y i n c a r r y i n g o u t c h a r i t a b l e , e t c . , p u r p o s e s 2 41,6493 Amounts s e t a s i d e f o r s p e c i f i c c h a r i t a b l e p r o j e c t s t h a t s a t i s f y t h e :

a S u i t a b i l i t y t e s t ( p r i o r I R S a p p r o v a l r e q u i r e d ) . . , - - 3 ab Cash d i s t r i b u t i o n t e s t ( a tt ac h t he r e q u i r e d s c h e d u l e ) . . . 3 b

4 Q u a l i f y i n g d i s t r i b u t i o n s . Ad d l i n e s l a t h r o u g h 3 b . E n t e r h e r e and o n P a r t V , l i n e 8 , a n d P a r t X I I I , l i n e 4 4 19, 9 27, 63 75 F o u n d a t i o n s t h a t q u a l i f y u n d e r s e c t i o n 4 9 4 0 ( e ) f o r t h e r e d u c e d r a t e o f t a x o n n e t i n v e s t m e n ti n c o m e . E n t e r 1 % o f P a r t I , l i n e 27b . . 5 08 A d j u s t e d q u a l i f y i n g d i s t r i b u t i o n s . S u b t r a c t l i n e 5 f r o m l i n e 4 . . 8 1-9,927, 63 7

N o t e : Th e amount on l i n e 6 w i l l be used i n P a r t V , column ( b ) , i n subsequent y e a r s when c a l c u l a t i n g whether t h e f o u n d a t i o n q u a l i f i e s f o r t h e s e c t i o4940(e) r e d u c t i o n o f t a x i n those y e a r s .

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( a ) ( b ) ( c ) ( d )C o r p u s Y e a r s p r i o r t o 2 0 0 6 2 0 0 6 2 0 0 7

I D i s t r i b u t a b l e a m o u n t f o r 2 0 0 7 f r o m P a r t X I ,l i n e ? 650, 804

2 U n d i s t r i b u t e d Income , 1 1 an y , as of t h e an d o f 2006'a E n t e r a m o u n t f o r 2 0 0 6 o n l y 0.b T o t a l f o r p r i o r y e a r s ^L- ^ - - - _

0.3 E x c e s s d i s t r i b u t i o n s c a r r y o v e r , i f a n y , t o 2 0 0 7 :aFrom 2 0 0 2 - _ - - - - - 1 _--- -bFrom 2003 . - - -- -c From 2004 ' `t i `F'W-. -ate i^1' 'k-- ar Y x fM n if_. . . . y a m - ' Y ^ 4 v - ' Y . ' - r l ^ 4 ' PLM-d From 2005e F r o m 2 0 0 6f T o t a l o f l i n e s 3 a t h r o u g h e 0. -

4 Q u a l i f y i n g d i s t r i b u t i o n s f o r 2007 f r o m - - . - - - -P a r t X I I , l i n e 19 , 927,6 3 7 . - > r ' r

& A p p l i e d t o 2006 , b ut n ot more t h a n l i n e 2 a - _ 0.b A p p l i e d t o u n d i s t r i b u t e d i n c o m e o f p r i o ry e a r s ( E l e c t i o n r e q u i r e d - s e e i n s t r u c t i o n s ) 0 .

c T r e a t e d a s d i s t r i b u t i o n s o u t o f c o r p u s - . v( E l e ct io n r e q u ir e d - s e e i n s t r u c t i o n s ) *,* 19,717,657.

d A p p l i e d t o 2007 d i s t r i b u t a b l e amount 209 1 980eRemaining amount d i s t r i b u t e d o u t o f c o r p u s 0.

5 Excess d l s t r l b u t b n s nrryover a p p l i e d t o 2007 0 ' -( n an amount appears in column (4 t h e same amount - - 3 _ _ - -m us t b e s ho wn i n column ( a ) )

6 E n t e r t h e n e t t o t a l o f e a c h column a si n d i c a t e d b e l o w .

Ad d l i ne s 3 t 4c , an d 4e S u b t r a c t l i n e 5 19 , 717,657. - _ = - 'b P r i o r y e a r s u n d i s t r i b u t e d i n c o m e . S u b t r a c tP r i o r

i n e 4 b f r o m l i n e 2 b 0. -c E n t e r t h e amount o f p r i o r y e a r s '

u n d i s t r i b u t e d i n c o m e f o r w h i c h a n o t i c e o f - -d e f i c i e n c y h a s b e e n i s s u e d , o r o n w h i c ht h e

s e c t i o n 4942 ( a ) t a x h a s b e e n p r e v i o u s l y 0a s s e s s e d

d S u b t r a c t l i n e S c f r o m l i n e 6 b . T a x a b l ea m o u n t - s e e i n s t r u c t i o n s - - 0 -

e U n d i s t r i b u t e d i n c o m e f o r 2 0 0 6 . S u b t r a c t l i n e - -4 a f r o m l i n e 2 a . T a x a b l e amount - s e e m o t e . 0U n d i s t r i b u t e d i n c o m e f o r 2007 . S u b t r a c tl i n e s 4 d a n d 5 f r o m l i n e 1 . T h i s amount mustb e d i s t r i b u t e d i n 2 0 0 8 440 , 824

7 Amounts t r e a t e d a s d i s t ri b u t i o n s o u t o fc o r p u s t o s a t i s f y r e q u i r e m e n t s i m p o s e d b ys e c t i o n 1 7 0 ( b ) ( 1 ) ( F ) o r 4942 ( g ) ( 3 ) 19 , 717 ,657. -

8 E x c e s s d i s t r i b u t i o n s c a r r y o v e r f r o m 2 0 0 2 - - - -n o t a p p l i e d o n l i n e 5 o r l i n e 7 0 .

9 E x c e s s d i s t r i b u t i o n s c a r r y o v e r t o 2 0 0 8 .S u b t r a c t l i n e s 7 a n d 8 f r o m l i n e 6 a 0 . - -;- - - - -

1 0 A n a l y s i s o f l i n e 9 :a E x c e s s f r o m 2 0 0 3 _b E x c e s s f r o m 2 0 0 4c E x c e ss f r o m 2 0 0 5d E x c e s s f r o m 2 0 0 6e E x c e s s f r o m 2 0 0 7 =

* * SEE STATEMENT 7 F o r m 990-PF ( 2 0 072358107-25-07


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F o r m 9 9 0 - P F ( 2 0 0 7 ) Z. SMITH REYNOLDS FOUNDATION, INC. 58-603814 5 P a g e. 1 a I f t h e f o u n d a t i o n h a s r e c e i v e d a r u l i n g o r d e t e r m i n a t i o n l e t t e r t h a t i t i s a p r i v a t e o p e r a t i n g

f o u n d a t i o n , a n d t h e r u l i n g i s e f f e c t i v e f o r 2007 , e n t e r t h e d a t e o f t h e r u l i n g ^Lb Check b o x t o i n d i c a t e w h e t h e r t h e f o u n d a t i o n i s a p r i v a t e o p e r a t i n g f o u n d a t i o n d e s c r i b e d i n s e c t i o n

2 a E n t e r t h e l e s s e r o f t h e a d j u s t e d n e t T a x y e a r P r i o r 3 y e a r sincome f r o m P a r t I o r t h e m i n i m u m ( a ) 2007 ( b ) 2006 ( c ) 2005i n v e s t m e n t r e t u r n f r o m P a r t X f o re a c h y e a r l i s t e d

b 85% o f l i n e 2 ac Q u a l i f y i n g d i s t r i b u t i o n s f r o m P a r t X I I ,

l i n e 4 f o r e a c h y e a r l i s t e d . .i f Amounts i n c l u d e d i n l i n e 2 c n o t

J u s e d d i r e c t l y f o r a c t i v econduct o f - -exempt a c t i v i t i e s

a Q u a l i f y i n g d i s t r i b u t i o n s made d i r e c t l yf o r a c t i v e c o n d u c t o f e x e m p t a c t i v i t i e s .S u b t r a c t l i n e 2 d f r o m l i n e 2 c

3 C o m p l e t e 3a , b , o r c f o r t h ea l t e r n a t i v e t e s t r e l i e d u p o n :a ' A s se t s ' a l t e r n a t i v e t e s t - e n t e r .

( 1 ) V a l u e o f a l l a s s e t s . . . . . .( 2 ) V a l u e o f a s s e t s q u a l i f y i n g

u n d e r s e c t io n 4 9 42 ( I ) ( 3) ( B ) ( i)b 'Endowment' a l t e r n a t i v e t e s t - e n t e r2 / 3 o f m i n i m u m i n v e s t m e n t r e t u r nshown i n P a r t X , l i n e 6 f o r e a c h y e a rl i s t e dc ' S u p p o r t a l t e r n a t i v e t e s t - e n t e r .

( 1 ) T o t a l s u p p o r t o t h e r t h a n g r o s si n v e s t m e n t i n c o m e ( i n t e r e s t ,d i v i d e n d s , r e n t s , p a y m e n t s o ns e c u r i t i e s l o a n s ( s e c t i o n5 1 2 (a ) ( 5 ) ) , o r r o y a l t i e s )

( 2 ) S u p p o r t f r o m g e n e r a l p u b l i ca n d 5 o r more e x e m p to r g a n i z a t i o n s a s p r o v i d e d i ns e c t i o n 4 9 4 2 ( j ) ( 3 ) ( B ) ( i i i )

( 3 ) L a r g e s t amount o f s u p p o r t f r o ma n exempt o r g a n i z a t i o n .

( 4 ) G r o s s i n v e s t m e n t i n c o m e

( e ) T o t a l

PI ar t XVJ supplementary i nf or matio n ( c o m pl e t e this part only i f th e f o u n d a t i o n had $5,00 0 o r more i n assetsat any t im e d ur in g t he y e a r - s e e th e instructions.)

1 Information R e ga r d i n g F o un d a t io n Managers:a L i s t a n y managers o f t h e f o u n d a t i o n w h o h a v e c o n t r i b u t e d more t h a n 2% o f t h e t o t a l c o n t r i b ut i o n s r e c e i v e d b y t h e f o u n da t i o n b e f or e t h e c l o s e o f a n y t a x

y e a r ( b u t o n l y i f t h e y h a v e c o n t r i b u t e d more t h a n $5 , 0 0 0 ) . ( S e e s e ct i on 5 0 7 ( d) ( 2 ). )NONE

b L i s t an y managers o f t h e f o u n d a t i o n w ho o wn 10 % o r more o f t h e s t o c k o f a c o r p o r a t i on ( o r a n e q u a l l y l a r g e p o r t i o n o f t h e o w n e r s h i p o f a p a r t n e r s h i p o ro t h e r e n t i t y ) o f w h i c h t h e f o u n d a t i o n h a s a 10% o r g r e a t e r i n t e r e s t

NONE2 I n f o r m a t i o n Regarding C o n t r i b u t i o n , G r a n t , G i f t , Loan , S c h o l a r s h i p , e t c . , Programs:

C h e c k h e r e ^0f t h e f o u n d a t i o n o n l y makes c o n t r i b u t i o n s t o p r e s e l e c t e d c h a r i t a b l e o r g a n i z a t i o n s an d d o e s n o t a c c e p t u n s o l i c i t e d r e q u e s t s f o r f u n d s . I ft h e f o u n d a t i o n makes g i f t s , g r a n t s , e t c . ( s e e i n s t r u c t i o n s ) t o i n d i v i d u a l s o r o r g a n i z a t i o n s u n d e r o t h e r c o n d it i o n s, c o m p l e t e i t e m s 2 a , b , c , an d d .

a Th e n a m e , a d d r e s s , a n d t e l e p h o n e number o f t h e p e r s o n t o w h o m a p p l i c a t i o n s s h o u l d b e a d d r e s s e d:

SEE STATEMENT 8b Th e f o r m i n w h i c h a p p l i c a t i o n s s h o u l d b e s u b m i t t e d a n d i n f o r m a t i o n a n d m a t e r i a l s t h e y s h o u l d i n c l u d e :

c Any s u b m i s s i o n d e a d l i n e s :

i f Any r e s t r i c t i o n s o r l i m i t a t i o n s o n a w a r d s , s u c h a s b y g e o g r a p h i c a l a r e a s , c h a r i t a b l e f i e l d s , k i n d s o f i n s t i t u t i o n s , o r o t h e r f a c t o r s :

7 2 3 e o r 1 0 7 - 2 5 - 0 7 F o r m 990-PF ( 2 0 0 7 )P


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R e c i p i e n t I f r e c i p i e n t i s a n i n d i v i d u a l ,show a n y r e l a t i o n s h i p t o F o u n d a t i o n P u r p o s e o f g r a n t o rName a n d a d d r e s s (home o r b u s i n e s s ) a n y f o u n d a t i o n managero r s u b s t a n t i a l c o n t r i b u t o r s t a t u s

o fr e c i p i e n t

c o n t r i b u t i o n Amount

a Paid d u r i n g t h e year

GRANTS PAID SEE STATEMENTB 17020995

T o t a l . . ^ 3 a 17020995b Approved f o r f u t u r e payment

FUTURE PAYMENTS SEESTATEMENT C 15267258

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1 Program s e r v i c e r e v e n u e :( e )

B codeS$( b )

AmountJs i o n,

( d )Amount

R e l a t e d o r exemptf u n c t i o n income

abci fefp F e e s an d c o n t r a c t s f r o m g o v e r n m e n t a g e n c i e s

2 Membership d u e s an d a s s e s s m e n t s3 I n t e r e s t o n s a v i n g s a n d t e m p o r a r y c a s h

i n v e s t m e n t s 1 673,193.4 D i v i d e n d s an d i n t e r e s t f r o m s e c u r i t i e s5 N e t r e n t a l i n c o m e o r ( l o s s ) f r o m r e a l e s t a t e : -

a D e b t - f i n a n c e d p r o p e r t yb N o t d e b t - fi n a nc e d p r o pe r t y

8 N e t r e n t a l income o r ( l o s s ) f r o m p e r s o n a lp r o p e r t y . . . . .

7 O t h e r i n v e s t m e n t income8 G a i n o r ( l o s s ) f r o m s a l e s o f a s s e t s o t h e r

t h a n i n v e n t o r y .9 N e t i n c o m e o r ( l o s s ) f r o m s p e c i a l e v e n t s

1 0 G r o s s p r o f i t o r ( l o s s ) f r o m s a l e s o f i n v e n t o r y .1 1 Other revenue:

abcde

1 2 S u b t o t a l . Ad d columns ( b ) , ( d ) , a n d ( e ) . . 0 . 673,193. 01 3 T o t a l . Ad d l i n e 1 2 , columns ( b ) , ( d ) , an d ( e )( S e e w o r k s h e e t i n l i n e 1 3 i n s t r u c t i o n s t o v e r i f y c a l c u l a t i o n s . )

1 3 673,193.

a r t XVI-B Relationship o f A c t i vi t i e s t o th e Accomplishment o f Exempt PurposesL i ne N o .y

E x p l a i n below how e a c h a c t i v i t y f o r w h i c h i n c o m e i s r e p o r t e d i n column ( e ) o f P a r t X V I - A c o n t r i b u t e d i m p o r t a n t l y t o t h e a c c o m p l i s h m e n t o ft h e f o u n d a t i o n ' s exempt p u r p o s e s ( o t h e r t h a n b y p r o v i d i n g f u n d s f o r s u c h p u r p o s e s ) .

F o r m 990-PF ( 2 0 0 7P


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F o r m 9 9 0 - P F ( 2 0 0 7 ) Z. SMITH REYNOLDS FOUNDATION, INC. 58-6038145 P a ga r t Information Rega r d i n g Transfers To a n d Transact i o n s a n d Relat i o n s hips W ith Nonc a r i t a e

1 D i d t h e o r g a n i z a t i o n d i r e c t l y o r i n d i r e c t l y engage i n a n y o f t h e f o ll o wi n g w i t h a n y o t h e r o r g a n i z a ti o n d e s c r i b e d i n s e c t i o n 5 0 1 ( c ) o f Yes Nt h e Code ( o t h e r t h a n s e c t i o n 5 0 1 ( c ) ( 3 ) o r g a n i z a t i o n s ) o r i n s e c t i o n 5 2 7 , r e l a t i n g t o p o l i t i c a l o r g a n i z a t i o n s ? AT r a n s f e r s f r o m t h e r e p or t in g f o u n d a t i o n t o a n o n c h a r d a b l e exempt o r g a n i z a t i o n o f -( 1) C a s h . . . . . . . . . . . 1 a 1( 2 ) O t h e r a s s e t s . . . . . , ,. . . . . . . . . . . . . . . . . . . . , . . . 1& ( 2 )

b O t h e r t r a n s a c t i o n s :( 1 ) S a l e s o f a s s e t s t o a n o n c h a r i t a b l e exempt o r g a n i z a t i o n l b ( l( 2 ) P u r c h a s e s o f a s s e t s f r o m a n o n c h a r i t a b l e exempt o r g a n i z a t i o n 1 b ( 2 )( 3 ) R e n t a l o f f a c i l i t i e s , e q u i p m e n t , o r o t h e r a s s e ts l b ( 3 )( 4 ) Reimbursement a r r a n g e m e n t s . . . . . . . . . . . . . . 1 b( 5 ) - Lo a n s o r l o a n - g u a r a n t e e s . 1 b ( 5 )( 8 ) P e r f o r m a n c e o f s e r v i c e s o r membership o r f u n dr a i si n g s o l i c i t a t i o n s 1 b ( 6 )

c S h a r i n g o f f a c i l i t i e s , e q u i p m e n t , m a i l i n g l i s t s , o t h e r a s s e t s , o r p a i d e m p l o y e e s 1 cd I f t h e answer t o a n y o f t h e a b o v e i s ' Y e s , * c o m p l e t e t h e f o l l o w i n g s c h e d u l e . Column ( b ) s h o u l d a l w a y s s h o w t h e f a i r m a r k e t v a l u e o f t h e goods , o t h e r a s s e t s ,

o r s e rv i c e s g i v e n b y t h e r e p o r t i n g f o u n d a t i o n . I f t h e f o u n d a t i o n r e ce i v ed l e s s t h a n f a i r m a r k e t v a l u e i n a n y t ra n s a c ti o n o r s h a r i n g a r r a n g e m e n t , s how i ncolumn ( d ) t h e v a l u e o f t h e g o o d s , o t h er a s s et s , o r s e r v i c es r e c e iv e d .

( a ) Name o f o r g a n i z a t i o n ( b ) T y p e o f o r g a n i z a t i o n ( c ) D e s c r i p t i o n o f r e l a t i o n s h i pN/A

Under p e n a l t i e s o f p e r k r y , I d e c l a r e t h a t I have examined t h i s r e t u r n , I n c l u d i n g acco m p a nyi ng sched u les and statements , an d t o t h e best o f my knowledge a n d b e l i e f , I t I s t h i s . c o r r e c t ,an d complete D l a r at I on o f p r e p e r e r ( o t h e r t h a n t a x p a y e r o r f i d u c i a r y ) I s ba sed o n a l l i n f o r m a ti o n o f wh i c h p r e p a r e r h as a ny knowledge

k S i g n o r a o f o f f i c e r a s t e eP r e p a r e r ' sI f s i g n a t u r eI

a $ R r m ' s n a m e ( o r y o u r SM MCG REY , INC .H u f f - e m p l o y e d ) , '230 N ELM ST STE 1100a d d r e s s , a n d Z I P c o d e GREENSBORO, NC 27401

7 2 36 2 2o 7 - 2 5 . 0 7

2 a I s t h e f o u n d a t i o n d i r e c t l y o r i n d i r e c t l y a f f i l i a t e d w i t h , o r r e l a t e d t o , o n e o r more t a x - e x e m p t o r g a n i z a t i o n s d e s c r i b e di n s e c t i o n 501(c) o f t h e Code ( o t h e r than s e c t i o n 501(c)(3 ) ) o r i n s e c t i o n 5 27?. . . . . . _ Oes

I N I f ' Y e s ' cmmnlete t h e f n l l n w i n n schedule


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Schedule o f Contributorschedule B I IForm 990, 990-EZ, OMB No 75^5-0W7or 990- OF) Supplementary Information for 2007Dapabnsnt o f t h e T r o a s u y l i n e 1 of Form 990, 990-EZ, and 990- PF (see Instructions)I n t e r n a l Revenue serviceName o f o r g a n i z a t i o n Employer I d e n t i f i c a t i o n numb

Z. SMITH REYNOLDS FOUNDATION, INC. 58-6038145Organization type (check o n e ) :

F i l e r s o f : Section:

Form 99 0 o r 990-EZ 001 ( c ) ( ) ( e n t e r number ) o r g a n i z a t i o n-0947(a ) ( 1 ) nonexempt c h a r i t a b l e t r u s t no t t r e a t e d as a p r i v a t e foundation027 p o l i t i c a l o r g a n i z a t i o n

Form 99 0 PF 01 ( c ) ( 3 ) exempt p r i v a t e foundation094 7 ( a ) ( 1 ) nonexempt c h a r i t a b l e t r u s t t r e a t e d as a p r i v a t e foundation001 ( c ) ( 3 ) t a x a b l e p r i v a t e foundationCheck i f your o r g a n i z a t i o n I s covered by the General Rule o r a Special R u l e . (Note : Only a s e c t i o n 5 0 1 ( c ) ( 7 ) , ( 8 ) , o r ( 1 0 ) o r g a n i z a t i o n ca n check boxef o r both t h e General Rule an d a Special Rule-see i n s t r u c t i o n s . )

General Rule-

For o r g a n i z a t i o n s f i l i n g Form 990, 990-EZ, o r 990-PF t h a t r e c e i v e d , d u r i n g the y e a r , $5,000 o r more ( i n m o n ey o r p r o p e r t y) from an y o n ec o n t r i b u t o r . (Complete P a r t s I an d I I . )

Special Rules-

Fo r a s e c t i o n 50 1 ( c ) ( 3 ) o r g a n i z a t i o n f i l i n g Form 9 9 0 , o r Form 9 9 0 - E Z , t h a t me t the 33 1/3% support t e s t o f the r e g u l a t i o n s undersections 5 0 9 ( a ) ( 1 ) / 1 7 0 ( b ) ( 1 ) ( A ) ( v ) , an d r e c e i v e d from an y one c o n t r i b u t o r , d u r i n g t h e y e a r , a c o n t r i b u t i o n o f the g r e a t e r o f $5,000 o r 2%o f the amount on l i n e 1 o f these f o r m s . (Complete P a r t s I an d I I . )0or a s e c t i o n 50 1 ( c ) ( 7 ) , ( 8 ) , o r ( 1 0 ) o r g a n i z a t i o n f i l i n g Form 99 0 , o r Form 990-EZ , t h a t r e c e i v e d from an y one c o n t r i b u t o r , d u ri n g t h e y e a r .aggregate contnbutions o r bequests o f more than $ 1,000 f o r us e e x c l u s i v e l y f o r r e l i g i o u s , c h a r i t a b l e , s c i e n t i f i c , l i t e r a r y , o r e d u c a t i o n a lpurposes , o r t h e p r e v e n t io n o f c r u e l t y t o c h i l d r e n o r animals . ( Complete P a r t s I , I I , an d I I I . )

For a s e c t i o n 50 1 ( c ) ( 7 ) , ( 8 ) , o r ( 1 0 ) o r g a n i z a t i o n f i l i n g Form 99 0 , o r Form 99 0 - E Z , t h a t r e c e i v e d from an y one c o n t r i b u t o r , d u ri n g t h e y e a r ,some c o n t r i b u t i o n s f o r us e e x c l u s i v e l y f o r r e l i g i o u s , c h a r i t a b l e , e t c . , purposes , but these c o n t r i b u t i o n s d i d n o t aggregate t o more than$1,000 . ( I f t h i s box i s checked , e n t e r here t h e t o t a l c o n t r i b u t i o n s t h a t were r e c e i v e d d u r in g t h e year f o r an e x c l u s i v e l y r e l i g i o u s ,c h a r i t a b l e , e t c . , purpose . D o no t complete an y o f the P a r t s unless the General Rule a p p l i e s t o t h i s o r g a n i z a t i o n because i t r e c e i v e dnonexclusivey r e l i g i o u s , c h a r i t a b l e , e t c . , c o n t r i b u t i o n s o f $5,000 o r more d u r in g t h e y e a r . ) ^ $

Caution : O r g a n i z a t i o n s t h a t a r e no t covered by t h e General Rule and/or t h e S p e c i a l Rules do no t f i l e Schedule B (Form 9 9 0 , 990-EZ o r 9 9 0 -P F ) , butt h e y must check t h e b ox i n t h e heading o f t h e i r Form 9 9 0 , Form 990-EZ o r on l i n e 2 of t h e i r Fonn 990-PF, t o c e rt if y t h a t t h e y do no t meet t h e f i l i n grequirements o f Schedule B (Form 9 9 0 , 990-Q o r 9 9 0 - P F ) .

LHA Fo r Paperwork Reduction Ac t Notice, see th e I n s t r u c t i o n sf o r Form 990 , Form 99 0 - EZ, an d Form 990-PF.

S c h e d u l e B ( F o r m 9 9 0 , 9 9 0 - E Z , o r 9 9 0 - P F ) ( 2 0 0 7

123451 12-27-07


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Schedule B ( F o r t h 9 9 0 . 990-E Z , or 990-PF) ( 2 0 0 7 )Name o f o r g a n i z a t i o n

1 o + l o P w tEmployer I d e n t i f i c a t i o n number

Z. SMITH REYNOLDS FOUNDATION, INC. 1 58-6038145Part i^ Contributors ( Se e S p e c i f i c I n s t r u c t i o n s . )

( a )No .

( b )Name address , and ZIP + 4

( C )Aggregate contributions

( d )Type o f c o n t r i bu t i o n

1 W . N . REYNOLDS TRUST P e r s o n I T L IP.O. BOX 3099 $ 12,041,165. P a y r o l l QN o n c a s h 0WINSTON-SALEM, NC 2 715 0

(Complete P a r t I I I f theri s a noncash c o n t r i b u t i o

( a )No .

( b )Name, address , an d ZIP + 4

(c )Aggregate contributions

( d )Type o f contribution

2 Z. SMITH REYNOLDS TRUST P e r s o nP.O. BOX 2257 $ 9,367,430.

P a y r o l l QN o n c a s h L1

BALTIMORE, MD 21203(Complete P a r t I I i f therI s a noncash c o n t r i b u t i o

( a )No .

( b )Name, address, an d ZIP + 4



Pers on$

P a y r o l lNoncash Q

(Complete P a r t I I i f theri s a noncash c o n t r i b u t i o

( a )No .

( b )Name address , an d ZIP + 4

( c )Aggregate contributions


Pers on C]$

P a y r o l l QNoncash C]

(Complete P a r t I I i f therei s a noncash c o n t r i b u t i o n

( a )No .

( b )Name address, an d ZIP + 4

( c )Aggregate contributions

( d )T y p e o f contribution

Pers on$

P a y r o l l QNoncash 0

(Complete P a r t 1 1 i f therei s a noncash c o n t r i b u t i o n

( a )No .

( b )Name address, an d ZIP + 4



Pers on 0$

P a y r o l l QNoncash Q

(Complete P a r t I I i f therei s a noncash c o n t r i b u t i o n

7 2 3 4 5 2 1 2 - 2 7 - 0 7 S c h e d u l e 8 (Form 9 9 0 . 9 9 0 - E Z . o r 91 9-7) ( 2 0 0 7


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Z. SMITH REYNOLDS FOUNDATION, INC. 58-603814

FORM 990-PF LEGAL FEES STATEMENT

(A) (B) (C ) (D)EXPENSES NET INVEST- ADJUSTED CHARITABL

DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSESBROOKS, PIERCE, MCLENDON, 0. 0. 0HUMPHREY, & LEONARD 0. 0. 0P.O. DRAWER U 0. 0. 0GREENSBORO, NC 27402 7 5 , 38 6. 0. 75,386_TO FM 990-PF, PG 1, LN 16A 75,386. 0. 75,386

FORM 990-PF ACCOUNTING FEES STATEMENT

(A) (B) (C) (D)EXPENSES NET INVEST- ADJUSTED CHARITABL

DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSESMCGLADREY & PULLEN, LLP 0. 0. 0230 NORTH ELM STREET, ST1100 0. 0. 0GREENSBORO, NC 27402-2470 8,570. 0. 8,570TO FORM 990-PF, PG 1, LN 16B 8,570. 0. 8,570

FORM 990-PF TAXES STATEMENT

(A) (B) (C) (D )EXPENSES NET INVEST- ADJUSTED CHARITABL

DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSESOTHER TAXES 66,759. 0. 66,759FEDERAL EXCISE TAX 13,173. 0. 0TO FORM 990-PF, PG 1, LN 18 79,932. 0. 66,759.

STATEMENT(S) 1, 2,


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FORM 990-PF OTHER EXPENSES STATEMENT

DESCRIPTIONBANK CHARGESSTATE ADVISORY PANELCONSULTANT FEES AND EXPENSESCOPYING

- -TECHNOLOGY COSTSOFFICE AND AUTO INSURANCEFELLOW/INTERN EXPENSEMAINTENANCE - OFFICEMACHINESMISCELLANEOUSPOSTAGEOFFICE SUPPLIESMAINTENANCE - AUTOSTELEPHONESABATICAL PROGRAMNANCY SUSAN REYNOLDS AWARDSOTHER DIRECT CHARITABLEACTIVITIESCONTRACTED SERVICESSTAFF PROFESSIONALDEVELOPMENTSTRATEGIC PLANNING

(A) (B) (C) (D)EXPENSES NET INVEST- ADJUSTED CHARITABLPER BOOKS MENT INCOME NET INCOME PURPOSES

130. 0. 13043,274. 0. 43,27446,916. 0. 46,91610,660. 0. 10,660- - 4 3 - , - 0 9 9 : - - - 0 - . 43,09934,500. 0. 34,50029,281. 0. 29,281

716. 0. 71627,213. 0. 27,21349,498. 0. 49,49822,480. 0. 22,48024,243. 0. 24,24312,362. 0. 12,36216,588. 0. 16,588124,907. 0. 124,907164,823. 0. 164,823.303,286. 0. 303,286.

840. 0. 84010,907. 0. 10,907.12,241. 0. 12,241.

TO FORM 990-PF, PG 1, LN 23 977,964. 0. 977,964.

FORM 990-PF OTHER FUNDS STATEMENT

DESCRIPTIONUNDISTRIBUTED INCOMETOTAL TO FORM 990-PF , PART II, LINE 29

(A) (B)BEGINNING OF END OF

YEAR YEAR19,559,108. 21,654,734.19,559,108. 21,654,734.

STATEMENT(S) 4, 5


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Z. SMITH REYNOLDS FOUNDATION , INC. 58-60381

FORM 990-PF PART VIII - LIST OF OFFICERS, DIRECTORS STATEMENTTRUSTEES AND FOUNDATION MANAGERS

EMPLOYEETITLE AND COMPEN- BEN PLAN EXPENS

NAME AND ADDRESS AVRG HRS/WK SATION CONTRIB ACCOUNTHOMAS W ROSS EXEC DIRECTOR/SECRETARYBOX 7144 40.00 128,170. 24,305.DAVIDSON , NC 28035-7144PATRICIA B WILLIAMSON ASSISTANT SECRETARY3204 KENSINGTON PLACE 40.00 57,225. 18,145.WINSTON-SALEM, NC 27103NANCY R BAGLEY % WA LIFE MAGAZINE BOARD OF TRUSTEES2301 TRACY PLACE NW 1.00 6,250. 0.WASHINGTON, DC 20008SMITH W BAGLEY % ARCA FDN INC BOARD OF TRUSTEES1308 19TH STREET NW 1.00 0. 0.WASHINGTON, DC 20036ANITA BROWN-GRAHAM BOARD OF TRUSTEESNCSU P.O. BOX 7406 1.00 5,000. 0.RALEIGH, NC 27695-7406JOHN 0 MCNAIRY % HARVEY BOARD OF TRUSTEESENTERPRISESP 0 BOX 189 1.00 6,250. 0.KINSTON, NC 28502KATHARINE B MOUNTCASTLE BOARD OF TRUSTEES37 OENOKE LANE 1.00 0. 0.NEW CANAAN, CT 06840MARY B MOUNTCASTLE BOARD OF TRUSTEES4106 KILDRUMMY COURT 1.00 0. 0. 0DURHAM, NC 27705DR. LLOYD P TATE JR % NC STATE PRESIDENTUNIV4700 HILLSBOROUGH STREET 1.00 6,250. 0. 0RALEIGH, NC 27606DANIEL CLODFELTER % MOORE & VAN BOARD OF TRUSTEESALLEN100 NORTH TRYON ST FLOOR 47 1.00 0. 0. 0CHARLOTTE, NC 28202

STATEMENT(S)


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Z. SMITH REYNOLDS FOUNDATION, INC.DAVID NEAL BOARD OF TRUSTEES2010 WILSON STREET 1.00 6,250.DURHAM, NC 27705STEPHEN L NEAL BOARD OF TRUSTEES7913 LEWINSVILLE ROAD 1.00 6,250.MCLEAN, VA 22102JANE S PATTERSON BOARD OF TRUSTEES902 EAST FRANKLIN STREET #4 1.00 6,250.CHAPEL HILL, NC 27514VIRGIL SMITH- - BOARD OF TRUSTEES12 DUNWOODY DRIVE 1.00 5,000.ARDEN, NC 28704

58-60381

0.

0.

0.

0.

JOSEPH D CROCKER INTERIM EXC DIR. SEC / ASST TREASURER3600 CHERRY LAUREL COURT 40.00 139,700. 35,527.WINSTON- SALEM , NC 27106

TOTALS INCLUDED ON 990 - PF, PAGE 6 , PART VIII 372,595 . 77,977.

STATEMENT(S)


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FORM 990-PF ELECTION UNDER REGULATIONS SECTION STATEMENT53.4942(A)-3(D)(2) TO TREAT

EXCESS QUALIFYING DISTRIBUTIONSAS DISTRIBUTIONS OUT OF CORPUS

FOUNDATION TRUSTEES HEREBY ELECT UNDER IRC REG.53.4942(A)-3(D)2 TOTREAT $19,717,657 OF GRANTS MADE IN 2007 AS A DISTRIBUTION FROMCORPUS.

STATEMENT(S)


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FORM 990-PF GRANT APPLICATION SUBMISSION INFORMATION STATEMENTPART XV, LINES 2A THROUGH 2D

NAME AND ADDRESS OF PERSON TO WHOM APPLICATIONS SHOULD BE SUBMITTEDSEE FOUNDATION WEBSITE: WWW.ZSR.ORG

TELEPHONE NUMBER336-725-7541

FORM AND CONTENT OF APPLICATIONSTHE FOUNDATION NO LONGER ACCEPTS PAPER GRANT APPLICATIONS. ALL INFORMATIONREGARDING WHOM APPLICATIONS SHOULD BE DIRECTED, THE FORMAT OF THEAPPLICATIONS AND ANY ADDITIONAL INFORMATION REQUIRED AS WELL AS SUBMISSIONDEADLINES CAN BE FOUND AT THE FOUNDATION'S WEBSITE WWW.ZSR.ORG

ANY SUBMISSION DEADLINESSUBMISSION DEADLINES CAN BE FOUND AT THE FOUNDATION'S WEBSITE WWW.ZSR.ORG

RESTRICTIONS AND LIMITATIONS ON AWARDSINFORMATION CAN BE FOUND AT THE FOUNDATION'S WEBSITE WWW.ZSR.ORG.

STATEMENT(S) 8


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58-6038145 Z . SMITH REYNOLDS FOUNDATION990-PF - YEAR ENDED DECEMBER 3 1 , 2007

PART IX-A - SUMMARY OF DIRECT CHARITABLE ACTIVITIES:( 1 ) $164,822.80 f o r t h e NANCY SUSAN REYNOLDS AWARDS - With p r i o r approval f r om t h e IRS, i n

1986 t h e Foundation e s t a b l i s h e d awards t o be given a n n u a l l y t o up t o t h r e e North C a r o l i n a r e s i d e n t s whohave show n r e s o u r c e f u l n e s s i n t a c k l i n g problems t h a t may have r e s i s t e d t r a d i t i o n a l a p p r o a c h e s . The awarseek o u t a nd hono r unrecognized i n d i v i d u a l s who have w o r k e d t o m a k e a p o s i t i v e d i f f e r e n c e i n NorthC a r o l i n a . The awards a r e presented each year a t a luncheon c e rem on y a t t e n d ed by o v e r 35 0 p e o p l e . The

- - r e c i p i e n t s - r e c e i v e - a n a w a r d o f $5,000 f o r p e r s o n a l u s e a n d they a re a b l e tod e s i g n a t e c h a r i t a b l e r e ci p i e n t sr e c e i v e a n a d d i t i o n a l $20,000.

( 2 ) $124,906.80 f o r t h e SABBATICAL PROGRAM - I n 1 9 9 0 , with p r i o r approval from t h e IRS, t h eFoundation e s t a b l i s h e d a s a b b a t i c a l p r o g r a m f o r i n d i v i d u a l s i n p a i d f u l l - t i m e l e a d e r s h i p p o s i t i o n s who has e r v e d t h e i r North Carolina n o n p r o f i t o r g a n i z a t i o n f o r a t l e a s t t h r e e y e a r s . The s a b b a t i c a l s were e s t a b l i s ht o provide an i n c e n t i v e t o l e a d e r s of c h a r i t a b l e o r g a n i z a t i o n s t o continue t h e i r c h a r i t a b l e work, a nd t oimprove and enhance t h e i r l e a d e r s h i p c a p a c i t y , s k i l l s , a nd t a l e n t s . Each r e c i p i e n t i s awa rded $25,000,s o me of whom w i l l n o t t a k e t h e i r s a b b a t i c a l s u n t i l 2 0 0 8 .

( 3 ) $278,693.18 f o r SPECIAL PROJECTS, OPPORTUNITIES, CONFERENCES AND MEETINGS:( A) $ 35 ,99 2. 23 f o r meetings a nd r e s e a r c h o n i s s u e s f a c i n g women i n North Carolina , i n c l u d i n g

economic e x c l u s i o n , v i o l e n c e a t home a nd i n t h e work place a nd t h e need f o r l e a d e r s h i pdevelopment.

( B ) $95,772.18 f o r t h e devel o pment a nd implementation of a p r o j e c t t o a s s i s t t h e Foundation i n i t sa b i l i t y t o understand how community development o r g a n i z a t i o n s a r e working.

( C ) $36,175.58 t o support a s p e ci a l p r o j e c t of t h e Foundation designed t o improve t h e d e l i v e r y ofp r o f e s s i o n a l devel o pment t o t e a c h e r s a nd s t r e n g t h e n s c h o o l s , p a r t i c u l a r l y t h o s e i n low-wealth a r e aof t h e s t a t e . The p r o j e c t wa s a p p r o v e d f o r adoption by t h e S t a t e ' s Education C a b i n e t .

(D) $10,000.00 The Foundation supported Action f o r Children by sponsoring a t a b l e f o r 10 a t i t s Actiof o r Children Legacy A w a r d honoring Tom Lambeth, a former e x e c u t i v e d i r e c t o r a nd c u r r e n t SenioFellow of t h e Z . Smith Rey n o ld s Foundation.

( E ) $75,000 I n 2006 t h e Bo a r d approved funding f o r t h e K-12 Master P l a n , which wa s developed by an umber of NC f u n d e r s t o a d d r e s s i s s u e s r a i s e d by No Child L e f t Behind, LeAndro, a nd o t h e re d u c a t i o n p o l i c i e s i n a comprehensive way. Over t h e p a s t y e a r , NC Network o f Grantmakers'Education W o r ki n g G r o u p ha s been meeting t o d i s c u s s t h e needs f a c i n g NC's elementary a ndsecondary s c h o o l s , a nd what organized p h i l a n t h r o p y ca n d o t o h e l p . The w o r k w i l l continue i n t o2 008 a s a r e p o r t t o education policymakers a nd s t a k e h o l d e r s i s developed from t h i s work.

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( F ) F i s c a l Modernization Study Commission - $4,146.76 The General Assembly and GovernorEasley have e s t a b l i s h e d a f i s c a l modernization s t u d y commission t o undertake t h e t a s k ofrecommending ways t o modernize North C a r o l i n a ' s t a x c o d e , and examining and makingrecommendations with r e s p e c t t o s ta te and l o c a l government revenue s h a r i n g and t a x i n g a u t h o r i t yZSR funds were used t o pay f o r follow-up work r e l a t i n g t o a commission r e t r e a t held i n 2006 andf o r o u t s i d e e x p e r t s engaged i n developing r e p o r t s f o r t h e commission and advice t o s t a f f .

(G) Global Warming I n i t i a t i v e - $21,606.43 f o r meetings/conferences on i s s u e s r e l a t i n g t o g l o b a lwarming.

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990-PF 58-6038145Z . SMITH REYNOLDS FOUNDATION, INC.

GRANTS PAID - 2007

A c t i o n f o r C h i l d r e n N o r t h C a r o l i n a S c h o o l o f G o v e r n m e n t ' s NC C i v i c E d u c a t i o n $5,001300 S t . M a r y ' s S t r e e t , S t e . 500 Consortium S m a l l G r a n t s Pr o gr am - Yo u t h AdvocacyR a l e i g h , NC 27605 T o o l k i t .

A c t i o n f o r C h i l d r e n N o r t h C a r o l i n a For g e n e r a l o p e r a t i n g s u p p o r t t o implement t h e h e a l t h $95,001300 S t . M a r y ' s S t r e e t , S t e . 500 and economic s e c u r i t y p o r t i o n s o f AFC's r e s u l t s - b a s e dR a l e i g h , NC 27605 p l a n .A d m i n i s t r a t i v e O f f i c e o f t h e Courts-NC S c h o o l o f G o v e r n m e n t ' s NC C i v i c E d u c a t i o n $ 2 , 5 0J u s t i c e Building C o n s o r t i u m S m al l G r an t s P r o g r a m - C o n s t i t u t i o n a lP . O. Box 2448 Law/Civics P r o g r a m f o r Ele me ntary/Middle School

- R a l e i g h , NC 27602 S t u d e n t s .A d o l e s c e n t P r e g n a n c y P r e v e n t i o n For g e n e r a l o p e r a t i n g s u p p o r t f o r i t s s t a t e w i d e work $75,00C o a l i t i o n - N C e d u c a t i n g s e r v i c e p r o v i d e r s t o implement s u c c e s s f u l3708 M a y f a i r S t r e e t , S u i t e 310 a d o l e s c e n t p r e g n a n c y p r e v e n t i o n i n t e r v e n t i o n s .Durham, NC 27707Affordable H o u s i n g G r o u p of N C , I n c . To c r e a t e , develop an d i m p l e m e n t a co m p r e h e n s i v e $ 50 , 0 01 3 0 0 Baxte r S t . , S u i t e 21 5 t r a i n i n g / r e s o u r c e c e n t e r an d t o support i t s o n g o i n gC h a r l o t t e , NC 28204 e f f o r t s t o educate h o m e b uy e r s an d p roduce a f f o r d a b l e

hou s i n g .

A g r i c u l t u r a l Resource s Cente r Fo r g e n e r a l o p e r a t i n g s u p p o r t . $ 70 , 0 0206 New B e r n PlaceR a l e i g h , NC 2 7 6 0 1Al e x a n d e r I n t e r n a t i o n a l Cente r F o r g e n e r a l o p e r a t i n g support t o s ta f f a b i l i n g u a l $ 10 , 0 0 0P . O . B o x 552 employee t o o f f e r a s s i s t a n c e t o L a t i n o s .Ta y l o r s v i l l e , NC 2 8 6 8 1A l l e g h a n y County S c h o o l s To d e v e l o p a r e g i o n a l a p p r o a c h f o r e n t i t i e s i n Western $30,00085 Peachtree S t r e e t N o r t h Carolina t h a t o f f e r J u n i o r Appalachian Musicians'S p a r t a , NC 28675-9210 (JAM) p r o g r a m s t o y o u t h .

American C i v i l L i b e r t i e s Union To s u p p o r t t h e s a l a r y o f a r e p r o d uc t iv e h e a l t h e d u c a t i o n $30,000F o u n d a t i o n o f NC c o o r d i n a t o r .P . O . B o x 28004R a l e i g h , NC 27611-8004Am er ican C i vi l L i b e r ti e s Union F o r t h e R a c i a l J u s t i c e P r o j e c t . $ 5 0 , 0 0 0F o u n d a t i o n o f NCP . O . B o x 28004R a l e i g h , NC 27611-8004

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GRANTS PAID - 2007American Farmland T r u s t For g e n e r a l o p e r a t i n g s u p p o r t t o c o n t i n u e i t s l e a d e r s h i p $30,0N a t i o n a l O f f i c e r o l e p a r t n e r i n g w i t h a g e n c i e s and n o n - p r o f i t s t o p r o t e c t1200 1 8 t h S t r e e t , NW, S u i t e 800 N C 's d i s a p p e a r i n g f a r m l a n d .Washin g t o n , DC 20036American I n s t i t u t e f o r S o c i a l J u s t i c e , F o r g e n e r a l o p e r a t i n g s u p p o r t t o s u p p o r t a n d expand i t s $150,0I n c . N o r t h C a r o l i n a ACORN c h a p t e r s .1408 H i l l s b o r o u g h S t .

- R a l e i h , N C-27605American J u d i c a t u r e S o c i e t y To c r e a t e t h e new I n s t i t u t e f o r J u s t i c e - S y s t e m $50,02700 U n i v e r s i t y Avenue I m p r o v e m e n t , a p r o j e c t o f t h e American J u d i c a t u r eDe s M o i n e s , IA 5 0 3 1 1 S o c i e t y .Americans f o r D e m o c r a t i c A c t i o n Fo r t h e Working F a m i l i e s W i n p r o j e c t i n N o r t h $45,0E d u c a t i o n Fund C a r o l i n a .1625 K S t r e e t , NWS u i t e 210Washin g t o n , DC 20006A p p a l a c h i a n S t a t e U n i v e r s i t y To s u p p o r t t h e High S c h o o l t o C o l l e g e T e a c h e r $35,0S p e c i a l Fu n d s Accounting Dev e l o pm e nt P r o j e c t .P . O . Bo x 32043Boone, NC 28608Appalachian S t a t e U n i v e r s i t y Fo r t h e ASU Beginning Teacher Support N e tw o r k $ 70 ,0 0F o u n d a t i o n (ASU-BTSN) a s a component o f i t s T e a c h e r R e t e n t i o nP . O . Bo x 32007 P r o g r a m .Boone, NC 28608-2077A p p a l a c h i a n S u s t a i n a b l e A g r i c u l t u r e To s u p p o r t o u t r e a c h , community e n g a g e m e n t , p l a n n i n g $ 2 , 0 0P r o j e c t and implementation of t h e Growing Minds, Growing729 H a y w o o d R d . , S u i t e 3 R o o t s f a r m - t o - s c h o o l program e x p a n s i o n i n t oA s h e v i l l e , NC 2 8 8 0 6 H e n d e r s on C ou nt y .A p p a l a c h i a n S u s t a i n a b l e A g r i c u l t u r e F o r g e n e r a l o p e r a t i n g s u p p o r t and o r g a n i z a t i o n a l $45,00P r o j e c t d e v e l o p m e n t .729 H a y w o o d R d . , S u i t e 3A s h e v i l l e , NC 28806

A p p a l a c h i a n V o i c e s Fo r g e n e r a l o p e r a t i n g s u p p o r t t o a c h i e v e improvement $30,001 9 1 H ow ar d S t r e e t i n a i r q u a l i t y i n N o r t h C a r o l i n a .Boone, NC 28607Ashe County P a r t n e r s h i p f o r C h i l d r e n To s u p p o r t i t s I DA program and c a p a c i t y - b u i l d i n g $35,006 2 6 - U n i t 1 e f f o r t .Ashe C e n t r a l S c h o o l R d .J e f f e r s o n , NC 28640

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GRANTS PA ID - 2007Bald Head I s l a n d C o n s e r v a n c y , I n c . For g e n e r a l o p e r a t i n g s u p p o r t aimed a t b u i l d i n g a $ 3 5 , 07000 F e d e r a l Ro a d n e t w o r k f o r d i s s e m i n a t i o n o f b e s t management p r a c t i c e sP . O . B o x 3109 f o r NC b a r r i e r i s l a n d s .Bald Head I s l a n d , NC 2 8461B a yb oro Development C e n t e r , I n c . For g e n e r a l o p e r a t i n g s u p p o r t . $30,0P . O . B o x 84B a b o r o , NC 28515B e a u f o r t County S c h o o l s S c h o o l o f G o v e r n m e n t ' s NC C i v i c E d u c a t i o n $ 6 , 03 2 1 Smaw Road Consortium S m a l l G r a n t s Progra m - T i g e r T a l e s .

- Washin g t o n , NC 27889Beloved C o m m u n it y C e n t e r o f 2006 Nancy S u s a n Reynolds Award d e s g i n a t e d by $20,0Greensboro, I n c . Margaret C l i n a r d .P . O . B o x 8 7 5G r e e n s b o r o , NC 27402B e r t i e C o u nty Fo r g e n e r a l o p e r a t i n g support f o r t h e Domestic Violence $ 3 0 , 0P . O . B o x 530 O f f e n d e r P r o g r a m .W i n d s o r , NC 27983Black F a m i l y Land T r u s t , I n c . Fo r t h e Black F a m i l y Land Tru st Landownership $ 7 5 , 0 04 1 1 W e s t Chapel H i l l S t . P r o t e c t i o n p r o j e c t .S u i t e 1 0 4D u r h a m , NC 2770 1

Black F a r m e r s a n d A g r i c u l t u r a l i s t s T o b r i n g f a r m e r s , l a n d o w n e r s , r e s e a r c h e r s and a c t i v i s t s $ 2 , 5 0Association t o g e t h e r t o devel op a s t r a t e g y f o r r e t u r n i n g blackP . O . B o x 6 1 f a r m e r s t o t h e l a n d .T i l l e r y , NC 2 7 8 8 7 - 0 0 6 1

B l a c k Heritage S o c i e t y , I n c . To s u p p o r t t h e Heritage Impacts T o u r i s m I n i t i a t i v e a nd $40,00P . O . B o x 848 a d v o c a c y a n d e d u c a t i o n e f f o r t s r e l a t e d t o i n c r e a s i n gK i n s t o n , NC 28502 h e r i t a g e t o u r i s m and economic d e v e l o p m e n t .Black H e r i t a g e S o c i e t y , I n c . F o r g e n e r a l o p e r a t i n g s u p p o r t f o r t h e s o c i e t y ' s e d u c a t i o n $ 4 0 , 0 0P . O . B o x 8 4 8 p r o g r a m s r e g a r d i n g t he r o l e o f t h e U . S . C o l o r e d TroopsK i n s t o n , NC 2 8 5 0 2 d u r i n g t h e C i v i l Wa r .

B l ue Ri dg e E n v i r o n m e n t a l Defense F o r g e n e r a l o p e r a t i n g s u p p o r t t o c o n t i n u e i t s s t a t e w i d e $ 6 0 , 0 0League e n v i r o n m e n t a l j u s t i c e w o r k .P . O . B o x 8 8G l e n d a l e S p r i n g s , NC 28629B o u n t i f u l C i t i e s P r o j e c t T o s u p p o r t h e a l t h y f o o d p r o d u c t i o n and e n t e r p r i s e $ 2 , 0 0P . O . B o x 898 d e v e l o p m e n t i n low-income n e i g h b o r h o o d s t h r o u g hA s h e v i l l e , NC 28802 communit y g a r d e n i n g .

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990-PF 58-6038145Z . SMITH REYNOLDS FOUNDATION, I N C .

GRANTS PAID - 2007C a r o l i n a J u s t i c e P o l i c y C e n t e r F o r g e n e r a l o p e r a t i n g s u p p o r t f o r i t s o n g o i n g advocacy $ 2 5 , 0 0P . O . Bo x 309 t o remedy f l a w s i n t h e d e a t h p e n a l t y s y s t e m an d f o rDurham, NC 27701 c o m m u ni t y c o r r e c t i o n s .C a r o l i n a Mountain Land Conservancy To s u p p o r t p l a n n i n g , o u t r e a c h , s i t e a n a l y s i s , p a r t n e r s h i p $ 3 , 7 5P . O . Bo x 2822 b u i l d i n g an d c a p a c it y b u i l di n g f o r c o n s e r v a t i o n - b a s e dH e n d e r s o n v i l l e , NC 28793-2822 a f f o r d a b l e h o u s i n g i n Henderson o r T r a n s y l v a n i a

C o u n t i e s .

C a r o l i n a s Clean A i r C o a l i t i o n F o r g e n e r a l o p e r a t i n g s u p p o r t t o c o n t i n u e b u i l d i n g $ 3 0 , 0 0P . O . Bo x 30204 a d m i n i s t r a t i v e c a p a c i t y and o u t r e a c h s u p p o r t .C h a r l o t t e , NC 28230Catawba County H i s p a n i c M i n i s t r y F o r g e n e r a l o p e r a t i n g s u p p o r t t o p r o vi d e i n f o r m a t i o n $ 2 5 , 0 0737 1 2 t h S t r e e t , SW an d a s s i s t a n c e t o L a t i n o i m m i g r a n t s .Hicko r y , NC 28602C a t a w b a River Foundation, I n c . Fo r g e n e r a l o p e r a t i n g support t o a d v o c a te f o r p r o t e c t i o n $50,004 21 Minuet Ln. #205 of t h e C a t a w b a R i v e r .C h a r l o t t e , NC 28217-2784C e nter f o r A g r i c u l t u r a l P a r t n e r s h i p s , Fo r t h e F a r m B i l l Work p r o j e c t designed t o enable $40,00I n c . m i n o r i t y farmers t o a c c e s s c r i t i c a l a s s i s t a n c e f r o m1 Wes t P a c k Square, S u i t e 401 f e d e r a l c o n s e r v a t i o n p ro grams.A s h e v i l l e , NC 28801Center f o r C o m m u n i t y A c t i o n , I n c . Fo r t h e implementation phase o f t h e W o m e n' s $70,00P . O. Box 723 E c o n o m i c Equity P r o j e c t .Lumberton, NC 28359Center f o r C o m m u n i t y A c t i o n , I n c . Fo r i t s Rural Education A d v a n c e m e n t p r o g r a m a n d t h e $50,00P . O . Bo x 723 p r o g r a m ' s C ommis sion on a S o u n d B a s i c E d u c a t i o nLumberton, NC 28359 p r o j e c t .

C e n t e r f o r C o m m u nit y C hange F o r t h e N o r t h C a r o l i n a G e n e r a t i o n C hange p r o j e c t $45,0001536 U S t r e e t , NW d e s i g n e d t o r e c r u i t , t r a i n and s u p p o r t n e w communityWashin g t o n , DC 20009 o r g a n i z e r s i n N o r t h C a r o l i n a .C e n t e r f o r C r e a t i v e L e a d e r s h i p F o r t h e d e s i g n o f a l e a d e r s h i p c a p a c i t y b u i ld i ng program $50,000O n e L e a d e r s h i p P l a c e f o r n o n p r o f i t e x e c u t i v e d i r e c t o r s a n d program o f f i c e r sP . O . Bo x 26300 a n d f or t h e c o n d u c t i n g o f a p i l o t s e s s i o n o f t h e p r o g r a m .G r e e n s b o r o , NC 27438-6300 The p i l o t s e s s i o n i s t o b e promoted a n d c o n d u c t e d i n

h o n o r o f Th o m a s K . H e a r n .C e n t e r f o r Death P e n a l t y L i t i g a t i o n , I n c . F o r t h e P u b l i c I n f o r m a t i o n a nd E d u c a t i o n p r o j e c t . $ 6 0 , 0 0 02 0 1 West Main S t . , S u i t e 3 0 1Durham, NC 27701

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GRANTS P A ID - 2007

C e n t e r f o r D i a l o g u eP . O . Box 1 2 0 5B r e v a r d , NC 28 71 2

To p r o v i d e n o n p r o f i t p r a c t i t i o n e r s a n o p p o r t u n i t y t or e f l e c t upon t h e i r g r o w t h and t o r e - i n t e g r a t e t h e i r s e n s eo f s e and c a l l i n g w i t h i n t h e c o n t e x t o f w o r k .

$ 5 , 0

C e n t e r f o r P a r t i c i p a t o r y C h a n g e , I n c .P . O . Box 9238A s h e v i l l e , NC 28815

For g e n er a l o p e r a ti n g s u p p o r t t o s t r en g t h e n g r a s s r o o t sl e a d e r s , g r o u p s , and n e t w o r k s working on j u s t i c e i s s u e si n Western N C .

$ 6 0 , 0

C e n t e r f o r P a r t i c i p a t o r y C h a n g e , I n c .P . O . Box 9238A s h e v i l l e , NC 28815

To d i r e c t l y s u p p o r t g r a s s r o o t s g r o u p s i n Western NCt h a t a r e a d d r e s s i n g i s s u e s r e l a t e d t o e n v i r o n m e n t a l ,s o c i a l and economic j u s t i c e .

$ 3 , 0

Center f o r Teaching Q u a l i t y5 0 0 M i l l s t o n e DriveS u i t e 1 02Hillsborou g h , NC 2 7 2 7 8

To support t h e u se of n a t i o n a l board c e r t i f i e d t e a c h e r sf o r higher m a t h a n d s c i e n c e a ch i e v e m e n t i n N C .

$ 5 0 , 0

C e n t r o de E n l a c e , I n c .P . O. Box 2 3 6B u r n s v i l l e , NC 2 8 7 1 4

For s t a r t u p a nd s u p p o r t f o r t h e f i r s t s i x mo n th s of at o r t i l l e r i a , a work ers c o o p e r a t i v e o w n e d a n d r un b yLatina women in Y a n c e y C o u n t y .

$ 3 , 0

Centro L a ti n o of Caldwell County, I n c .3 2 8 - B Woodsway L a n eL e n o i r , NC 2 8 6 4 5

For g e n e r a l o p e r a t i n g s u p p o r t . $10,00

C h a t h a m C o u n ty P a r t n e r s h i p f o rChildren2 0 0 Sanford Highway, S u i t e 4P i t t s b o r o , NC 2 7 3 1 2

For t h e S a f e S t a r t S e r v i c e s C o o r d i n a t o r . $ 4 0 , 0 0

Chi l d a n d P a r e n t Support S e r v i c e s4 1 1 W. Chapel H i l l S t . , S u i t e 90 8D u r h a m , NC 2 7 7 0 1

For t h e ' I d e n t i f y i n g a n d R e s po n d i n g t o t h e N e e d s ofChildren i n Domestic Violence S h el te rs ' p r o j ec t .

$23,00

C h i l d C a r e S e r v i c e s A s s o c i a t i o nP .O.Box90 1C ha p e l H i l l , NC 27514

F o r t h e L e a d i n g E a r l y E d u c a t o r Development P r o j e c t . $ 5 0 , 0 0

C h i l d r e n ' s Home, I n c .1 0 0 1 Reynolda RoadW i n s t o n - S a l e m , NC 27104

2006 N a n c y S u s a n Reynolds Awa r d d e s g i n a t e d by F a i t hLockwood f o r My A u n t ' s Hous e f o r f u n d r a i s i n g f o ro p e r a t i o n a l e x p e n s e s .

$ 1 0 , 0 0

Clean Wa ter f o r NC29 1 / 2 Page AvenueA s h e v i l l e , NC 2 8 8 0 1

To s u p p o r t a y o u t h development program i n Dur ha mp r o v i d i n g h a n d s - o n t r a i n i n g and s k i l l - b u i l d i n g i n s t r e a mr e s t o r a t i o n a n d e n e r g y c o n s e r v a t i o n t e c h n i q u e s , andcoo r a t i v e b u s i n e s s / e n t r e p r e n e u r i a l p l a n n i n g .

$ 9 , 0 0

STATEMENT5 OF


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GRANTS PAID - 2007C l e a n Water f o r NC F o r g e n e r a l o p e r a t i n g s u p p o r t . $ 2 5 , 0 029 1 / 2 Page AvenueA s h e v i l l e , NC 28801

Columbus County DREAM C e n t e r , I n c . To d e v e l o p i t s homeownership p r o g r a m . $35,00P . O . Box 1 7 5 7W h i t e v i l l e , NC 28472Columbus County Government S c h o o l o f G o v e r n m e n t ' s NC C i v i c E d u c a t i o n $ 5 , 0 01 1 1 Washington S t . Consortium S m a l l G r a n t s Program - Columbus CountyW h i t e v i l l e , NC 28472 S t u d e n t I n t e r n s h i p P r o g r a m .Common Cause E d u c a t i o n Fund To s u p p o r t i t s work i n N o r t h C a r o l i n a . $100,001 1 3 3 1 9 t h S t . , NW, S u i t e 900Washin g t on , DC 20036Common Cause E d u c a t i o n Fund F o r g e n e r a l o p e r a t i n g s u p p o r t t o s u p p o r t i t s NC c h a p t e r . $40,001 1 3 3 1 9 t h S t . , NW, S u i t e 900Washin g t on , DC 20036Common Sense Foundation For g e n e r a l o p e r a t i n g s u p

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