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l efile GRAPHIC p rint - DO NOT PROCESS As Filed Data - DLN: 93493228036590

Form990 Return o f Organization Exempt F r om Income Tax OMB No 1545-0047Under section 501(c), 527, o r 4947( a)(1) o f the I n t e r n a l Revenue Code ( except b la c k l u ng 2008

b e n e f i t t ru st o r p r i v a t e foundation)D e p a r t m e n t o f th e T r e a s u r yI n t e r n a l Revenue S e r v i c e -The o r g a n i z a t i o n may have to use a copy of this r e t u r n to satisfy st a t e r e po r t i n g requirementsA Fo r the 2008 calendar year , o r tax year beginning 10- 01-2008 and ending 09-30-2009B Check i f a p p l i c a b l e Pleasef l Address c h a n g e use IR Slabel o rFName c h a n g e print o rtype. See1n i t i a l r e t u r n SpecificITermination

Instruc-tions.

F-Amended r e t u r nF_ A p p l i c a t i o n pending

C Name o f organizationPIEDMONT DEVELOPMENT COMPANY IN CD o i ng B us in e ss As

D Employer identification number02-0708580

E Telephone number

Number a nd s t r e e t ( o r P 0 bo x i f mail i s not delivered t o s t r e e t address)I Room/suite I G Gross rec e i p ts $ 79,216PO BO X 1034

C i t y or town, s t a t e or country, a nd ZI P + 4K i n s t o n , NC 28503

F Name a nd address o f P ri nci p al O f f ic er H(a) I s t h i s a g ro up return f o rSTEPHEN LAROQUE affiliates? F-Yes FNo2312 HODGES RDKINSTO N, NC 28504 H(b) A r e al l a f f i l i a t e s included ? Fes F_ No

I Tax-exemp t s t a t u s F501(c) ( 3) 1 ( i n s e r t no ) 1947(a)(1) o r F_ 527 ( I f "No," a t t a c h a l i s t See ins tructions3 Website : 0 - H(c) Group Exemption Number 0 -

K Typ e o f organization Forporation1r u s tFssociation1ther 0 L Y e a r o f Formation 2003 I M State o f l e g a l domicile NC

Summary1 B r i e f l y describe t he o r ga n iz a ti o n' s mission o r most significant activities

EXPAND SMALL BUSINESSES

2 Check t h i s bo x F_ i f th e organization discontinued i t s operations o r disposed o f more than 25% o f i t s assets3 Number of voting members of t h e governing body ( Pa r t VI , l i n e 1 a ) . 3 34 Number of independent voting members of t h e governing body (Part VI , l i n e 1b ) 4 25 To t a l number of employees ( Pa rt V, l i n e 2a) 5 0

, - , 6 Total number o f volunte e rs ( es tim ate i f necessary) 6 37a T o t a l gross u n r e l a t e d business revenue from Pa r t VIII, l i n e 12 , column ( C) 7a 0b Net u n r e l a t e d business taxable income from Form 990-T, l i n e 34 . 7b 0

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Form 990 (2008) Page 2MUMV-tatement of Program Service Accomplishments (See the instructions.)1 B r i e f l y describe the o r g a n i z a t i o n ' s mission

EXPAND SMALL BUSINESSES

2 Di d the organization undertake any significant program services during the y ear w hi ch were not l i s t e d onthe prior Form 990 or 990 -EZ'' . . . . . . . . . . . . . . . . . . . . fl Yes FoI f "Yes," describe these new services on Schedule 0

3 D id the organization cease conducting or make significant changes i n how i t conducts any programservices? FYes FoI f "Yes," describe these changes on Schedule 0

4 Describe the exempt purpose achievements fo r each of the organization ' s three largest program services b y expensesSection 501 ( c)(3) and ( 4) organizations and 4947( a )( 1) t ru st s a re required to r ep or t the amount of grants and allocations too ther s , the total expenses, and revenue , i f any, fo r each program se rv i ce repo rte d

4a (Code ) (Expenses $ 6,083 i n c l u d i n g grants o f $ ) (Revenue $ 39,608 )FARMERS HOME ADMINISTRATION FHMA - THE AUTHORITY ASSISTS BORROWERS I N OBTAINING FHMA GUARANTY LOANS FOR BUSINESSES I N RURAL AREAS OFTHE PIEDMONT NC AREA 5 BUSINESS DIRECTLY BENEFITED

4b (Code (Expenses $ i n c l u d i n g grants o f $ (Revenue $

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Form 990 ( 2008) Page 3Li hecklist of Required SchedulesYes No

1 Is the organization described i n section 501(c)(3) or4947(a)(1) (other than a private foundation ) ? If "Yes," Yescomplete ScheduleAs . . . . . . . . . . . . . . . . . . . . . 1

2 I s the organization required t o complete Schedule B , Schedule o f Contributors? . 2 No3 D id the organization engage i n direct o r indirect p o l i t i c a l campaign a c t i v i t i e s on behalf o f o r i n opposition t o No

candidates f o r public o f f i c e ? I f "Yes,"complete Schedule C , P a r t I . . . . . . . . . . 34 Section 501( c)(3) organizations Did the organization engage i n lobbying activities ? If "Yes,"complete Schedule C , NoP art I I . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Section 501 (c)(4), 501(c)(5), and 501( c)(6) organizations Is the organization subject to the section 6033(e)

notice and reporting requirement and proxy tax's If "Yes,"complete Schedule C , Part II I . . . 56 Did the organization maintain any donor advised funds o r any accounts where donors have the r i g ht t o provide

advice on the distribution o r investment o f amounts i n such funds o r accounts ? I f "Yes,"completeSchedule D , P art I . . . . . . . . . . . . . . . . . . . . . . . 6 N o

7 Did the organization receive o r hold a conservation easement , including easements t o preserve open space,the environment , h i s t o r i c land areas o r h i s t o ri c structures? I f "Yes,"complete Schedule D , P a r t I I . 7 No

8 Did the organization maintain collections o f works o f a r t , historical treasures , o r other similar assets? I f "Yes,"complete Schedule D, P art I I I 8 N o

9 Did the organization report an amount i n Part X, l i n e 21, serve as a custodian for amounts not listed i n Part X, orprovide credit counseling , debt management , credit r e p a i r , o r debt negotiation services ? I f "Yes,"complete Schedule D, Part IV . 9 N o

10 Did the organization hold assets i n term, permanent , or quasi-endowments? If "Yes,"complete Schedule D, Part V 10 No11 Did the organization report an amount i n Part X, lines 1 0, 12 , 13, 15, or 257 If "Yes,"complete Schedule D,

Parts VI , VII, VI I I, IX , or X as applicable . . . . . . . . . . . . . . . . 11 No12 Did the organization receive an audited f i n a n c i a l statement f o r the year f o r which i t i s completing t h i s return

that was prepared i n accordance with GAAP ' ' If "Yes,"complete Schedule D, Parts XI , X I I, and X I I I 12 No13 Is the organization a school as described i n section 170(b)(1)(A)(ii)'' If "Yes,"completeScheduleE 13 No14a Did the organization maintain an office, employees, or agents outside of the U S 7 . 14a No

b Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising,business, and program service activities outside the U S 7 If "Yes,"complete Schedule F , Part I . 14b No

15 Did the organization report on Part I X, column (A), l i n e 3, more than $5,000 of grants or assistance to anyorganization or entity located o utside the United States? If "Yes,"complete Schedule F Part II 15 N o

16 Did the organization report on Part I X, column (A), l i n e 3, more than $5,000 of aggregate grants or assistanceto individuals located o utside the United States? If "Yes,"complete Schedule F , Part II I . 16 No

17 Did the organization report more than $15,000 on Part IX , column (A), l i n e lle'' If "Yes,"complete Schedule G, 17 NoPart I

18 Did the organization report more than $15,000 total on Part V I I I , lines 1c and 8a'' If "Yes, "complete Schedule G,P art I I . 18 N o

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Form 990 (2008) Page 4Li hecklist of Required Schedules (Continued)Yes No

28 During the ta x y ea r, did any person who i s a current or former officer, director, trustee, or key employeea Have a direct business relationship with the organization (other than as an o f f i c e r , director, trustee, o r employee),

o r an indirect business relationship through ownership o f more than 35% i n another entity (individually o rcollectively with other person(s) listed i n Part VII, Section A)? If "Yes,"complete Schedule L , PartIV . . . . . . . . . . . . . . . . . . . . . . . . 28a No

b Have a family member w ho had a direct o r indirect business relationship with the organization? I f "Yes,"complete Schedule L , Part IV . . . . . . . . . . . . . . . . . . 28b N oc Serve as an o f f i c e r , director, trustee, key employee, partner, o r member o f an e n t i t y ( o r a shareholder o f a

p r o fessio nal co rp o r atio n) do in g business w i th t he organization? If "Yes,"complete Schedule L , Part IV . 28c No29 Did the o r g ani z atio n r ecei ve more than $25,000 i n non-cash contributions? If "Yes,"complete Schedule M 29 No30 Did the organization receive contributions o f a r t , historical treasures, o r other similar assets, o r q ua l i f i e d

conservation contributions? If "Yes,"complete Schedule M . . . . . . . . . . . 30 No31 Did the organization l i q u i d a t e , terminate, o r dissolve an d cease operations? I f "Yes,"complete Schedule N ,

Part 1 . 31 N o32 Did the organization s e l l , exchange, dispose o f , o r transfer more than 25% o f i t s net assets? I f "Yes,"complete

Schedule N, Part II . 32 N o33 Did the organization own 100% of an entity disregarded as separate from the organization under Regulations

section 301 7701-2 and 301 7701-3? If "Yes,"complete Schedule R , Part I . 33 No34 Was the organization related to any tax-exempt or taxable entity? If "Yes,"complete Schedule R , Parts I I , III, IV,

and V , line l . . . . . . . . . . . . . . . . . . . . . . . 34 N o35 Is any related organization a controlled entity within the meaning of section 512(b)(13)? If "Yes,"complete

Schedule R , Part V , line 2 . . . . . . . . . . . . . . . . . . 35 N o36 501(c)(3) organizations Did the organization make any transfers to an exempt non-charitable related

organization? If "Yes,"complete Schedule R , Part V , line 2 . . . . . . . . . . 36 No37 Did the organization conduct more than 5 percent o f i t s a c t i v i t i e s through an e n t i t y that i s not a related

organization an d that i s treated as a partnership f o r federal income tax purposes? I f "Y es,"complete Schedule R , 37 NoP art V I . .

Form 990 (2008)

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Form 990 (2008) Page 5Statements Regarding Other IRS Filings and Tax Compliance

Yes Nola Enter th e number reported i n Box 3 of Form 1096, Annual Summary and Transmittal

of U .S . In f ormat io n R et ur ns . E n te r -0 - i f no t applicable . .la 1

b Enter th e number of Forms W-2G included i n l i n e la Enter -0 - i f not applicablelb 0

c Di d th e organization comply with backup withholding rules for reportable payments to vendors and reportablegaming (gambling) winnings to prize winners?2a Enter th e number of employees reporte d on Form W-3, Transmittal of Wage and Ta x

Statements f i l e d for th e calendar year ending with or w it hi n t he year covered by thisreturn 2a 0

b I f at least one i s reported i n 2a , did th e organization f i le a ll required federal employment tax returns'Note : I f the sum o f l i n e s la an d 2a i s greater than 250, you may be required t o e - f i l e t h i s r e t u r n .

3 a Did the organization have unrelated business gross income o f $1,000 o r more during the year covered by t h i sreturn?

b I f "Yes," has i t f i l e d a Form 990-T f o r t h i s year? I f "No,"provide an explanation i n Schedule 0 . . . . .4a At any time during the calendar year, d i d the organization have an interest i n , o r a signature o r other authorityover, a financial account i n a foreign country (such as a bank account, securities account, o r other financial

account)? .b I f " Yes," e nter the name o f the foreign country

See th e instructions for exceptions and f i l i n g requirements for Form TD F 90-22 . 1 , Report of Foreign Bank andFinancial Accounts.

5a Was th e organization a party to a prohi bi t ed tax shelter transaction at any time during t he t ax year?b Did any taxable party n o t i f y the organization that i t was o r i s a party t o a prohibited tax shelter transaction?c I f "Yes," to 5a or 5b, did th e organization f i l e Form 8886-T, Disclosure by Tax-Exempt Entity Regarding Prohibited

Ta x Shelter Transaction? .6a Di d th e organization solicit any contributions that were n ot t ax deductible? . .

b I f "Yes," d i d the organization include with every solicitation an express statement that such contributions o r g i f t swere not tax deductible? .

7 Organizations t h a t may receive deductible contributions under section 170(c).a Did th e organization provide goods or services i n exchange for any quid pro quo contribution of $75 or

more? . .b I f "Yes," d i d the organization n o t i f y the donor o f the value o f the goods o r services provided?c Di d th e organization s e l l , exchange, or otherwise dispose of tangible personal property for which i t was required to

f i l e Form 82827 .d I f "Yes," indicate the number o f Forms 8282 f i l e d during the year I 7d

e D id the organization, during the year, receive any funds, directly o r i n d i re ct l y , t o pay premiums on a personal

1 c Yes

2b Yes

3a N o3 b

4a N o

5a N o5b N o

5 c6a N o

6b

7a

7b

7 c

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Form 990 (2008) Page 6L&ILM Governance , Management and Disclosure (Sections A, B, and Crequest information

aboutpolicies not required by th e Internal Revenue Code.)Section A . Governing Body and Mana g ement

Yes NoFo r each "Yes " r e spo nse t o l in e s 2- 7 below, and f o r a "No"re sp on s e t o l i n es 8 o r 9b below, describe the circumstances,p r o c e s s e s , or changes i n Schedule 0. See instructions.

la Enter the number o f voting members o f the g ov e rn in g b o dy . la 3b Enter the number o f voting members that a re independent . l b 2

2 Did any o f f i c e r , d i r e c t o r , trustee, o r ke y employee have a family relationship o r a b u siness r elationship with anyother o f f i c e r , d i r e c t o r , trustee, o r ke y e m p l o y e e? 2 Y e s

3 Did the organization delegate control o v e r management duties c u s to m ar i l y p e r f o rm e d by o r under the directsupervision o f o f fi c er s , d i re ct ors o r trustees, o r key employees to a management company or other person? 3 No

4 D i d the o rganization make any significant changes to i t s o rganizational documents s i n c e the prior Form 990 wasf i l e d ? . 4 No

5 D id the organization become aw ar e during the year o f a m ate r i al d iv e r s ion o f the organization's ass et s? . 5 No6 Does the organization have members o r stockholders? 6 No7a Does the organization have members, stockholders, o r other per s o ns who may elect o ne o r m o r e members o f the

governing body? . . . . . . . . . . . . . . . . . . . . . . . . 7a Nob A r e any decisions o f the g ov e rn in g b o dy subject t o approval by members, stockholders, o r other pe rs on s? 7b No

8 D id the organization contempo r aneou sly document the meetings held o r written actions undertaken during theyear b y the following

a the governing body? . . . . . . . . . . . . . . . . . . . . . . . . 8a Yesb e a ch co mm ittee with authority t o ac t on behalf o f the governing b o dy? 8 b Y e s

9a Does the organization have l o c a l chapters, branches, o r a f f i l i a t e s ? 9a Nob I f "Yes," d o es the organization have written policies a nd p ro c e du r es governing the activities o f s u c h chapters,

a f f i l i a t e s , and branches t o ensu r e their operations ar e consistent with those o f the organization? . 9b10 Was a copy of the Form 990 provided to the o rganization's governing body b e f o r e i t was f i le d? A ll o r g a n i z a t i o n s

must describe i n Schedule 0 the process, i f any, the o rganization uses to review the Form 990 . 10 Yes11 Is there any officer, d i re ct or o r trustee, o r key employee listed i n P a rt V I I , Section A, who cannot b e reached at

the o r gani z ati o n' s m a il ing addre s s? If "Yes," provide the names and addre s s e s i n S che du le 0 11 No

Section B . P ol i c i e sYes No

12a Does the o rganization have a written c o nf l ic t o f i n te r e s t p o l i c y ? If "No", go to l in e 13 . 12a Nob A r e o f f i c e r s , directors o r trustees, and ke y e m p l o y e e s required t o di sc l o s e a nn ua l l y interests that could give r i s et o conflicts? . . . . . . . . . . . . . . . . . . . . . . . . . . 12bc Does the organization regularly and consistently m on ito r a nd enforce c omp l i an c e with the p ol i c y? I f "Yes,"

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Form 990 (2008) Page 71 : M.lkvh$ Compensation of Officers , Directors , Trustees , Key Employees, Highest Compensated

Employees , and Independent Contractors

Section A Officers, Directors, Trustees, Key Employees, and Highest Compensated Employeesla Complete t h i s table f o r a l l persons required t o be l i s t e d Use Schedule J- 2 i f additional space i s needed* List a ll of the organization' s current officers, directors, trustees (whether individuals or organizations) and key employees regardlessof amount of compensation, and current key employees Enter -0 - i n columns (D), (E), and (F) i f no compensation was paid* List th e organization's five current highest compensated employees (other than an officer, director, trustee or key employee)who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from theorganization and any related organizations* L i s t a l l o f the organization's former o f f i c e r s , ke y employees, o r highest compensated employees who received more than $100,000o f reportable compensation from the organization and any related organizations* List a ll of the organization' s former directors or trustees that received, i n the capacity as a former director or trustee of th eorganization, more than $10,000 of reportable compensation from the organization and any related organizationsL i s t persons i n the following order individual trustees o r directors, i n s t i t u t i o n a l trustees, o f f i c e r s , ke y employees, highestcompensated employees, and f or mer such personsfl Check t h i s b ox i f the organization d i d not compensate an y o f f i c e r , d i r e c t o r , trustee o r key employee

(C)Position ( check a l l

that apply) (F )

A)Name an d T i t l e

(B )A v e r a g ehoursperweek

C , -

' a

-

qL )m

(D

- 0E

3+ u 0D 0Jm

i t ,

no

(D )Reportablecompensationfrom theo r g anization ( W-2/1099MISC)

Reportablecompensationfrom relatedorganizations(W - 2 /1099-MISC)

Estimatedamount o f othercompensationfrom theo r g anization an drelatedorganizations

SUSAN LAROQUE , CHAIRMAN 5 X 0 0 0WALTER LAROQUE IV , SECRETARY 5 X 0 0 0STEPHEN LAROQUE , PRESIDENT 20 X 0 167,800 0

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Form 990 (2008) Page 8Continued

(c)Position (check a l l

that apply) (F)

(A)Name an d T i t l e

(B )Average

hpersweek

c - -

D

' DI D- 0QQ

3a- 0Jm

+ a

a

(D )Reportablecompensation

from theo r g anization ( W-2/1099MISC)

Reportablecompensationfrom relatedorganizations(W- 2/1099-

MISC)

Estimatedamount of o thercompensation

from theo r g anization an drelatedorgani zat i o n s

lb Total 0 167,800 0Total number of i n d iv i du al s ( in c l u di n g those i n 1a) who received more than $100,000 in reportablecompensation from the organization-0

NoD id the organization l i s t an y former o f f i c e r , director o r trustee, key employee, o r highest compensated employeeon n e l a ' s I f "Yes,"complete ScheduleI forsu ch individual . . . . . . . . . . . . 3 NoFor any individual listed o nl in e 1 a, i s the sum of reportable compensation and o ther compensation from theorgani zat i o n and related o r g an i za t i o n s g r ea t er than $150,000? If "Yes," complete ScheduleI fo r suchindividual . . . . . . . . . . . . . . . . . . . . . . . . . . .Did an y p er so n l i s t e d on l i n e la receive o r accrue compensation from an y unrelated organization f o r servicesrendered t o the organization ? I f " Y e s , "complete ScheduleI f o r su ch person . . . . . . . . . 5 No

Section B . Independent Contractors1 Complete this table fo r your five highest compensated independent contractors that received more than

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Form 990 (2008) Page 9Statement of Revenue

(A) (B) (C) (D)Total Revenue Related o r Unrelated Revenue

Exempt Business Excluded fromFunction Revenue Tax under IRCRevenue 512, 513, or 514

l a Federated campaigns . l ab Membership dues

lbc Fundraising events .

+ 1 { G 1cd Related organizations . .1 de Government grants ( c o n t r i b u t i o n s ) lef A l l other c o n t r i b u t i o n s , g i f t s , g r a n t s , an d

s i m i l a r amounts not i n c l u d e d above`^C} i fg Noncash contributions included i n0 M l i n e s la-1f $h Total ( Add l i n e s la-1f ) . . . . .

0 -Business Code

2a IR P INTERESTFEES 900,099 63,736 31,868 31,868b RBEG INTERESTFEES 900,099 15,480 7,740 7,740C

U def A l l other program service revenue

Og Total . Add l i n e s 2a-2f . . . . . . . .

0 - $ 79,2163 I n ves t men t i n co me (including dividends, interest

other similar amounts) .4 Income from investment o f tax-exempt bond proceeds

5 Royal t ies .( i ) Real ( i i ) Personal

6a Gross Rents

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Form 990 (2008) Page 101:Me Statement of Functional Expenses

Section 501(c)(3) and 501(c)(4) organizations must complete a l l columns.A l l otner or anizations must corn i e t e column w Dui are not r e uirea to com i e t e coiumns e s , c , an a u .

Do not include amounts reported on lines 6b, 7b ,8b , 9b , and 10b of Part VIII .i i

( A )T o t a l expenses

(B)Program s e r v i c eexpenses

(C)Management andgeneral expenses

(D)Fundraisingexpenses

1 Grants and other assistance to governments and organizationsin the U S See P ar t I V, l i n e 21

2 Grants and other assistance to individuals in theU S See P ar t I V, l i n e 22

3 Grants and other assistance to governments,organizations and individuals outside the U S SeeP ar t I V, lines 15 and 16

4 Benefits paid t o o r f o r members5 Compensation of current officers, directors, trustees, and

key employees . .6 Compensation no t inc luded above, to disqualified persons

(as defined under section 4958(f)(1)) and personsdescribed in section 4958(c)(3)(B) .

7 Other salaries an d wages8 Pension plan contributions (include section 401(k) and section

40 3(b) employer contributions) .9 Other employee benefits10 Payroll taxes11 Fees fo r services (non-employees)

a Management . .b Legal 550 550c Accounting 2,200 2,200d Lobbyinge Professional fundraising See Part IV , l ine 17f Investment management feesg Other

12 Advertising and promotion . 36 3613 Office expenses14 Information technology15 Royalties16 Occupancy

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Form 990 (2008) Page 11Balance Sheet

(A) (B)Beginning of year End of year

1 Cash-non-interest-bearing . . . . . . . . . . . . . . . 12 Savings and temporary cash investments 124,389 2 206,4863 P le dg es a nd grants receivable, net 34 Accounts receivable, ne t 45 Receivables from current a nd f o rm er o f f i c e r s , directors, trustees, ke y employees o r

other related parties Complete P a r t I I o f Schedule L 56 Receivables f ro m o th er disqualified persons ( a s defined under section 4958(f)(1)) an d

persons described i n section 4958(c)(3)(B) Complete Part II of Schedule L . 67 Notes and loans receivable, ne t 650,541 7 573,4298 Inventories fo r sale or use 89 Prepaid expenses an d deferred charges 910a

+ 6 Land, buildings, an d e qu ipment cost basis 10ab Less accumulated depreciation Complete Part VI of

Schedule D . 10b 10c11 Investments-publicly traded securities 1112 Investments-other securities See Pa rt I V, l i n e 11 Complete Part VI I of

Schedule D . . 1213 Investments-program-related See Pa rt I V, l i n e 11 Complete Part VIII

o f Schedule D . 1314 Intangi ble assets 1415 Other assets See Part IV, l i n e 11 Complete Part IX of Schedule

D . 1516 Total assets . Add lines 1 through 15 (must e qual line 34) 774,930 16 779,91517 Accounts payable and accrued expenses 6,361 1718 Grants payable 1819 Deferred revenue 1920 Tax-exempt bond liabilities 20

} 21 Escrow account l i a b i l i t y Complete Part IVof ScheduleD . 2122 Payable t o current a nd f or me r o f f i c e r s , directors, trustees, ke y

employees, highest compensated employees, an d disqualifiedpersons Complete Part II of Schedule L . 22

23 Secured mortgages and notes payable to unrelated third parties 549,889 23 523,549

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lefile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93493228036590SCHEDULE A P u b l i c Charity Status a nd P u b l i c Support OMB No 1545-0047(Form 990 o r 990EZ) 2008

To be completed by a l l section 501(c)(3) organizations and section 4947(a)(1)D e p a r t m e n t o f t h e T r e a s u r y nonexempt c h a r i t ab l e trusts.I n t e r n a l Revenue S e r v i c e Attach to Form 990 or Form 990- E Z . See separate instructions . . -

Name of the organization Employer identification numberPIEDMONT DEVELOPMENT COMPANY IN C

02-0708580E:MONReason for Public Charity Status (to be comDleted by a l l oraanlzatlons) (See Instructions)Th e organization i s not a private foundation because i t i s (Please check only one organization )

1 1 A church, convention of churches, or association of churches described in Section 170(b)(1)(A)(i).2 1 A school described in Section 170(b) (1 ) (A ) (ii). (Attach Schedule E )3 1 A h os p it a l or a cooperative h os p it a l s e r v i c e o r ga n i za t i o n described i n Section 170(b)( 1)(A)( i i i ). (Attach Schedule H4 1 A m ed ica l r es ea rch organization operated i n conjunction with a hospital described i n Section 170 (b)(1)(A)(iii). Enter th e

hospital's name, city, and s t at e5 1 A n organization operated for t he be ne fi t of a college or u n i v er s it y owned or operated by a governmental unit described in

Section 170 ( b)(1)(A)(iv ) . (Complete Part I I )6 1 A f e d e r a l , state, o r l o c a l government o r g o v ernmenta l u n i t described i n S e ct i on 17 0( b) ( 1 ) ( A ) ( v) .7 F An organization t h at normally r ec e i v e s a s u b s t a n t i a l pa rt of it s support from a governmental u ni t o r from th e g e n e r a l public

described in Section 170 ( b)(1)(A)(vi ) (Complete P art I I )8 1 A community trust described in Section 170 ( b)(1)(A)(vi ) (Complete P art I I )9 1 An organization that n or m al l y r ece i v es ( 1 ) more than 331/3% o f i t s s u pp or t f ro m contributions, membership fees, a nd gross

receipts from activities related t o i t s exempt functions-subject t o certain e xce pti ons, an d ( 2 ) no more than 331/3% o fit s support from gross investment income and u n r e l a t e d business t a x ab l e income (les s section 511 tax) from businessesacquired by th e organization after June 30 , 1975 See Section 509( a ) ( 2 ) . (Complete Part III )

10 1 An organization organized and operated e x c l u s i v e l y to test for public s a f e t y See Section 509(a )(4). (See instructions11 1 An organization organized and operated e x c l u s i v e l y for t he be ne fi t o f, to perform th e functions o f, or to carry ou t th e purposes of

one or more publicly supported o r g a n iz a t i o n s described i n section 509(a)(1) or section 509(a)(2) See Section 509(a) (3). Checkth e box t h at describes th e type of supporting organization and complete lines 11e through 11h

a 1Type I b 1Type I I c 1Type III - Functionally Integrated d 1Type III - Othere ( - By checking this box, I certify t h at th e organization is no t controlled d ir ect ly o r i nd ir ect ly by one or more disqualified persons

o t h e r than foundation managers and o t h e r than one or more publicly supported o r g a n iz a t i o n s described in section 509(a)(1) ors ec t i o n 509(a)(2)

f I f th e organization received a written determination from th e IRS t h at i t is a Type I , Type I I or Type III supporting organization,check this box ( -

g Since August 17, 2006, has th e organization accepted any g i f t or contribution from any of th efollowing persons?( i ) a person who directly o r indirectly controls, either alone o r together with p e rs o ns d es cr ibe d i n ( i i ) Ye s Noa nd ( i i i ) below, th e governing body o f th e th e supported organization? 11g(i)( i i ) a family member o f a person described i n ( i ) abo v e? 11g(ii)

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Schedule A (Form 990 o r 990-EZ) 2008 Page 2Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170 ( b)(1)(A)(vi)(Complete only i f you checked the box on l i n e 5 , 7 , or 8 of Part I . )

Public SuooortCalendar year (or fiscal year beginning i n ) (a) 2004 (b) 2005 (c) 2006 (d) 2007 (e) 2008 (f) Total

1 G i f t s , grants, contributions, an dmembership fees received (Do not 37,500 40,000 76,500 154,000include a ny "un us ual grants " )

2 Tax revenues levied f o r the organization'sbenefit an d either paid t o o r expended oni t s behalf3 The value o f services o r f a c i l i t i e sfurnished by a governmental u ni t t o theorganization without charge

4 Total . Add l i n e 1-3 37,500 40,000 76,500 154,0005 The portion o f t o t a l contribution by each

person (other than a government u n i t o rpublicly supported organization) includedon l i n e 1 that exceed 2% o f the amountshown on l i n e 11 , column( f )

6 Public Support subtract l i n e 5 from l i n e 154,000Total Support

Calendar year (or fiscal year beginning i n ) (a) 2004 (b) 2005 (c) 2006 (d) 2007 (e) 2008 (f) Total7 Amounts from l i n e 4 10,474 40, 000 76,500 154,0008 Gross income from i n t e r e s t , dividends,

payments received on s e cu ri t i es l oa n s, 10,474 30,878 44,52 8 39,608 12 5,488rents, royalties an d income from similarsources

9 Ne t income from unrelated businessa c t i v i t i e s , whether o r n ot the business i sregularly carried on

10 Other income Do not i n clude g ai n or los sfrom the sale o f capital assets (Explain i nPart IV )

11 Total Support (Add lines 7 through 10) 279,48812 Gross receipts from related activities, etc (See instructions 1213 First Five Years. I f the Form 990 i s for the organization's f i r s t , second, third, f ou rth, o r f i f t h tax year as a 501(c)(3)

organization, check t h i s box an d s top here

Comp utation o f P ubli c Support Percentag e14 Public Support Percentage for 2008 ( l i n e 6 column ( f ) divided by l i n e 11 column ( f ) ) 14 55.100%15 Public Support Percentage for 2007 Schedule A, Part IV-A, l i n e 26f16a 33 1 / 3% Test -2008 . I f the organization did not check th e box on l i n e 13, and l i n e 14 is 33 1 /3% or more, check this box

and stop here . The organization qualifies as a publicly supported organization O k -F

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Schedule A (Form 990 o r 990-EZ) 2008 Page 3IMMOTMSupport Schedule for Organizations Described in IRC 509(a)(2)(Complete only i f y ou checked the bo x on l i n e 9 of Part I . )

Section A . Public SupportCalendar year (or f i s cal year beginning i n ) (a) 2004 (b) 2005 (c) 2006 (d) 2007 (e) 2008 (f) Total

1 G i f t s , grants, contributions, an dmembership fees received (D o notinclude a ny " un us ua l grants " )

2 Gross receipts from admissions,merchandise sold o r services performed,o r f a c i l i t i e s furnished i n an y activity thati s related t o the organization's tax-exempt purpose

3 Gross receipts from activities t hat arenot an unrelated trade o r business undersection 513

4 Tax revenues levied f o r theorganization's benefit an d either paid t oo r expended on i t s behalf

5 The value o f services o r f a c i l i t i e sfurnished by a governmental u n i t t o theorganization without charge

6 Total Add lines 1-57a Amounts i ncluded o n l i n e s 1 , 2 , an d 3

received from disqualified personsb Amounts included on l i n e s 2 an d 3

received from other than disqualifiedpersons that exceed the greater o f 1% o fthe total of lines 9, 10c, 11 , and 12 forthe year or $5,000

c Total o f l i n e s 7a an d 7b8 Public Support (Substract l i n e 7c from

l i n e 6)Total Support

Calendar year (or f i s cal year beginning i n )9 Amounts from l i n e 6

10a Gross income from i n t e r e s t , dividends,payments received on securities loans,rents, royalties an d income from similarsources

b Unrelated business taxable income (lesssection 511 taxes) from businessesacquired after 30 June, 1975

c Add l i n e s 10a an d 10b11 Net income from unrelated businessa c t i v i t i e s not included i n l i n e 10b,

whether o r n ot the business i s regularly

(a) 2004 (b) 2005 (c) 2006 (d) 2007 (e) 2008 (f) Total

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Schedule A (Form 990 o r 990-EZ) 2008 Page 4MOWupplemental Information . Complete this part to provide t he information required by Part I I , l i n e 10;Part I I , l i n e 17a or 17b, or Part I I I , l i n e 1 2 . Provide an d any other additional information. (see instructions)

Facts and Circumstances Test

Schedule A (Form 990 or 990-EZ) 2008

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l efile GRAPHIC p rint - DO NOT PROCESS As Filed Data - DLN: 93493228036590Schedule J Compensation Information OMB No 1545-0047(Form 990) 2008

F o r c e rt a i n O f fi ce r s, D ir e ct o r s , Trustees , Key Employees, and HighestCompensated Employees

D e p a r t m e n t o f t h e T r e a s u r y 1 - Attach to Form 990. To be completed by organizations ' t o Pub li cI n t e r n a l Revenue S e r v i c e that answered " Yes" to Form 9 9 0, Par t IV , line 23 . InspectionName of the organizationPIEDMONT DEVELOPMENT COMPANY I NC

Employer identification number02-0708580

Questions Regarding Compensation

l a Check the appropiate box(es ) i f the organizatio n provided any of t h e f ol l ow in g to or for a person listed i n Form990, Pa rt VI I , Section A, l i n e la Complete Part I I I to p r o v i d e any r e l e v an t i n f o rm at i o n r e g a r d i ng these items1 First class or charter travel 1 Housing allowance or residence for personal use1 Travel for companions 1 Payments for business use of personal residence1 Tax idem nificatio n and gross - u p payments 1 Health or social club dues or initiation f e e s1 Discretionary sp en d in g account 1 Personal services ( e g , maid, chauffeur, chef)

b I f l i n e la i s checked, d i d th e organization follow a w ri t te n p ol icy regarding payment o r r eimbursemen t o rprovision o f a l l th e ex p e n s e s described abo v e? I f "No," complete Part I I I t o explain l b

2 Di d t he organization require substantiation p r i or t o reimbursing o r allowing expenses i n cu r re d by a l lo f f i c e r s , directors, trustees, an d th e CEO/Executive Director, regarding th e items checked i n l i n e 1a ? 2

3 I n di cat e whi ch, i f any, of t he f ol lo wi ng t he organizatio n uses to es tablish t he compensation of theorganizatio n ' s CEO/Executive Directo r Check al l that a p p l y1 Compensation committee 1 W r i t t e n employment contract1 Independent compensation consultant 1 Compensation survey or study1 Form 990 of o t he r o r ga n i za t i on s 1 Approval by the board or compensation committee

4 During t he ye ar , di d any person listed i n Form 990, Pa rt V II , Section A, l i n e laa Receive a severance payment or change of control payment? 4ab Par ti ci pat e i n, or r e c e i v e payment from, a supplemental no nq ua lified retirement p la n? 4bc Participate i n, or r e c e i v e payment from, an equity-based compensation arrangement? 4c

I f "Yes" to any o f l in es 4a-c, l i s t t he persons and p r o v i d e the app licable amounts for each i t e m i n Part II I

501(c ) ( 3) and 501( c)(4) organizations o n l y must complete l in e s 5 -8 .5 For persons listed i n form 990, Pa rt VI I , Section A, l i n e l a, di d the organizatio n pay or accrue any

compensation contingent on the revenues of

Yes I No

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Schedule J (Form 990) 2008 Page 2VVITFI-fficers , Directors , Trustees , Key Employees , and Highest Compensated Employees . Use Schedule 3- 1 i f additional space needed.Fo r each individual whose compensation must be reported i n Schedule J , report compensation from th e organization on row (i ) and from related organizations described i n th einstructions on row ( i i ) Do no t l i s t any individuals that ar e no t listed on Form 990, Part VII

Note . The sum of columns ( B ) ( i ) - ( i i i ) must equal th e applicable column (D) or column (E ) amounts on Form 990, Part VII, l i n e la

(A) Name (B ) Breakdown of W-2 and/or 1099-MISC compensation (C ) Deferred (D ) Nontaxable (E ) Total of columns (F ) Compensation(i ) Base

compensation( i i ) Bonus &

i n c e n t i v ecompensation

( i i i ) Othercompensation

compensation benefits (B)(i)-(D) reported i n p r i o r Form99 0 o r F or m 9 9 0- E Z

STEPHEN LAROQUE ( 1 )( i i ) 167,800 167,800( i i )(i )( i i )(i )( i i )(i )( i i )(i )( i i )

(i )( i i )(i )( i i )(i )( i i )

Schedule 3 (Form 990) 2008

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Schedule J (Form 990) 2008 Page 3EIRISTW Supplemental InformationComplete t h i s p a r t t o p r o v i d e t h e i n f or m a t io n , e x p l a n a t i o n , o r d e s c r i p t i o n s r e q u i r e d f o r P a r t I , l i n e s la , 1b , 4c , 5 a, 5 b, 6a , 6b , 7 , a nd 8 A ls o c o mp l e t e t h i s p a r t f o r a ny a d d i t i o n a l i n f o r m a t i o n

I II d e n t i f i e r Ret u r n ExplanationR e f e r e n c e

Schedule 3 (Form 990) 2008

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l efile GRAPHIC p rint - DO NOT PROCESS As Filed Data - DLN: 93493228036590SCHEDULE0 OMB No 1545 0047(Form 9 9 0 ) Supplemental Information t o Form 990 2008D e p a r t m e n t o f t h e T r e a s u r y 1 - Attach to Form 9 90 . To be complet ed b y o rg an i za t io ns t o p ro vi de additional information forI n t e r n a l R e v e n u e S e r v i c e responses to specific questions fo r t he Form 9 90 or to provide an y additional information . OpenITsi)ectiOTName of the organizationPIEDMONT DEVELOPMENT COMPANY I NC

Employer identification number02-0708580

I d e n t i f i e r Return ExplanationR efer enc e0 1 O f fi c e r , d ir e c to r s , e t c f a m il y r e l a t i on s h i p Stephen LaRoque P r e s i d e n t Susan LaRoque Chairperson Wife Walter( P a r t V I , l i n e 2 ) LaRoque Secretary B r o t h e r

I d e n t i f i e r Return ExplanationR efer enc e02 Form 99 0 governing body review ( P a r t V I, l i n e Governing body i s p r o v i d e d w i t h a copy o f t a x r e tu r n p r io r to i t s1 0 ) f i l i n g

I d e n t i f i e r Return R efer enc e Explanation03 G ov er n in g documents, e t c , a v a i l a b l e t o p u b l i c ( P a r t V I , l i n e 1 9 ) Documents a r e made a v a i l a b l e to p u b l i c upon request

For Paperwork ReduchonActNohce , seethe Instructons forForm 9 9 0 Cat No 51056K Schedule 0 (Form 9 9 0 ) 2 0 0 8