2026-04-03T08:15:36-04:00 2025-12-31 Foundation Source 3333 New Hyde Park Rd Ste 406 New Hyde Park NY 11042 990PF 2025-01-01 208383433 Bill and Faye Stallings Family Foundation % Foundation Source BILL 8008391754 Foundation Source 501 Silverside Rd Wilmington DE 198091377 Gregory Blake Stallings Vice President 8008391754 2026-03-20 true Jeffrey D Haskell P01345770 8008391754 2025 2025-03-06 01:10:19Z X 111247 X 25195 69 69 2942 2942 0 28206 3011 0 7933 7933 7933 0 7933 30000 30000 37933 0 37933 -9727 3011 0 51380 41653 41653 42829 42829 69594 94209 84482 111247 0 0 X 94209 84482 94209 84482 94209 84482 94209 -9727 84482 84482 42 42 42 102 0 102 60 60 0 false false false false false false true true true DE true false false false false true Foundation Source 8008391754 501 Silverside Road Suite 123 Wilmington DE 198091377 false false false false false false false false false false false false false false false false false false false false false G Blake Stallings Foundation Source 501 Silverside Rd Wilmington DE 198091377 VP, Sec 1.0 0 0 0 K Clark Stallings Foundation Source 501 Silverside Rd Wilmington DE 198091377 VP 1.0 0 0 0 Marion Faye Stallings Foundation Source 501 Silverside Rd Wilmington DE 198091377 Pres, Dir 1.0 0 0 0 William R Stallings Jr Foundation Source 501 Silverside Rd Wilmington DE 198091377 VP 1.0 0 0 0 62761 51399 0 114160 0 114160 1712 112448 5622 5622 42 42 5580 5580 5580 37933 0 0 0 0 37933 5580 58437 50715 54893 53542 34116 251703 37933 5580 32353 284056 0 25195 33242 225619 50715 54893 53542 34116 32353 Marion Faye Stallings X PITT COUNTY COMMITTEE OF 100 INC PO BOX 1714 GREENVILLE NC 27835 N/A PC General & Unrestricted 30000 30000 14 69 14 2942 3011 3011 false false false false false false false false false false X X 1 Marion Faye Stallings VIA IRA 1645 E Arlington Boulevard Suite E Greenville NC 27858 25195 X Form 990-PF, Part XII, Line 7 Form 990-PF, Part XII, Line 7 Election to Treat Unused Prior Year Corpus Distributions as Current Year Corpus Distributions Pursuant to Treasury Regulations Section 53.4942(a)-3(c)(2)(iv), Bill and Faye Stallings Family Foundation hereby elects to treat, as a current distribution out of corpus, the following unused prior year's distributions that were treated as corpus distributions under Treasury Regulations Section 53.4942(a)-3(d)(1)(iii) in such prior tax year: Tax Year: 2020 Amount: $25,195 By: GREGORY BLAKE STALLINGS Title: VICE PRESIDENT Amount treated as distributions out of corpus to satisfy section 170(B)(1)(F)(II) The Bill and Faye Stallings Family Foundation (the "Foundation") hereby elects to satisfy the requirements of Internal Revenue Code ("Code") Section 170(b)(1)(F)(ii) in respect of contributions of $25,195 in cash received in the taxable year ending December 31, 2025 (the "Conduit Election Year"). To satisfy the requirements of Code Section 170(b)(1)(F)(ii), a private non-operating foundation must: (A) by the end of the Conduit Election Year, distribute any undistributed income from the year immediately preceding the Conduit Election Year; (B) distribute, in the absence of an election under Code Section 4942(h)(2), any undistributed income from the Conduit Election Year by the end of the Conduit Election Year; and (C) make qualifying distributions treated as distributions out of corpus by no later than the 15th day of the third month of the taxable year following the Conduit Election Year in an amount equal to 100 percent of the contributions received by such foundation in the Conduit Election Year. A. Satisfaction of Minimum Distribution Requirement for the Conduit Election Year. As reported on Part XII, Line 2, column (c), the undistributed income for the year immediately preceding the Conduit Election Year is $0. In other words, the Foundation had no undistributed income for 2024. B. Timely Satisfaction of Minimum Distribution Requirement for the Taxable Year following the Conduit Election Year. As reported on Part XII, Line 6f, column (d), the undistributed income for the Conduit Election Year is $0. In other words, the Foundation had no undistributed income for 2025. C. Sufficient Timely Qualified Distributions Made Out of Corpus. To satisfy the requirements of Internal Revenue Code Section 170(b)(1)(F)(ii), the Foundation had until March 15, 2026, the 15th day of the third month of the taxable year following the Conduit Election Year, to make distributions out of corpus in an amount equal to 100 percent of the contributions received by it in the Conduit Election Year, $25,195. As reported on Part XII, Line 7, the Foundation is treating $25,195 as a current distribution out of corpus in full satisfaction of the requirements of Code Section 170(b)(1)(F)(ii) in respect of the Conduit Election Year. The Foundation has attached the necessary election, pursuant to Treasury Regulations Section 53.4942(a)-3(c)(2)(iv), to treat $25,195, its total unused prior years' corpus distributions, as a current distribution out of corpus. TRUIST FINANCIAL CORPORATION 42829 69594 As explained below, the Foundation has no plans for dissolution. This statement is submitted to report the distribution of certain assets during the year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3(a)(1) and the Form 990-PF instructions: During the taxable year ending December 31, 2025, the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled $30,000. This amount represents 25% or more of the Foundation's net assets of $112,729 (as measured by fair market value) at the beginning of the Foundation's taxable year ending December 31, 2025. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XIV, Line 3a; each such grant was made solely for the charitable purpose specified therein. Administrative Fees 7933 7933