2023-11-13T15:07:53-06:00 2022-12-31 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2022-01-01 046469904 Philip Hofer Charitable Trust PHIL 6172485255 Choate Hall Stewart PO Box 96101 Boston MA 02196 Charles A Cheever Trustee 6172485255 2023-11-02 1 Charles Cheever 999009999 0 Nicholas E Porto P01310283 2078792100 2023-11-02 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z Charles A Cheever Choate Hall Stewart PO Box 961019 Boston MA 02196 2744600 0 X N/A X 1981 MA Grants to the Houghton Library at Harvard University 3 0 0 2 0 0 0 0 0 0 460682 -138735 0 0 460682 -138735 133577 52455 0 0 0 0 0 0 0 51378 41266 184955 93721 275727 -232456 4712537 3585004 0 0 4712537 3585004 The Trust was created and shall be operated exclusively for the benefit of and in connection with the Department of Printing and Graphic Arts of the Houghton Library at Harvard University, a Massachusetts charitable and educational corporation. 0 0 77638 52455 Funds generated through the Trust's investments are used to provide charitable grants to the Houghton Library at Harvard University for the housing and study of rare books and manuscripts. 77638 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 0 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 MA X Choate Hall & Stewart 6172485255 Choate Hall Stewart PO Box 961019 Boston MA 02196 X William A Lowell Trustee (part year) 1.00 0.00 X 0 0 0 Thomas HP Whitney Jr Trustee (part year) 1.00 0.00 X 0 0 0 Charles A Cheever Trustee 1.00 0.00 X 0 0 0 Kristin T Abati Trustee 1.00 0.00 X 0 0 0 Alexander Thorndike Trustee 1.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 59956 59956 2684644 2883335 -198691 -198691 -198691 -138735 0 0 -138735 52455 52455 3750 1875 1875 37446 23238 14208 MA Form PC filing fee 70 70 93721 77638 16083 0 171321 151319 4541216 3433685 4712537 3585004 0 0 X 4712537 3585004 0 0 0 0 4712537 3585004 4712537 3585004 X -232456 -904395 9318 X 0 0 0 X X 1 President and Fellows of Harvard College 042103580 2 1 52455 25113 1 52455 25113 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 15073 0 0 0 152218 59956 167291 59956 0 0 42979 16083 0 0 124312 43873 4397987 3739807 166580 144524 0 0 4564567 3884331 0 0 0 4564567 3884331 68469 58265 4496098 3826066 157363 133912 0 0 157363 133912 124312 105665 157363 157363 0 157363 52455 0 25113 0 0 0 77568 52455 157363 33.330000000000 157363 0 0 0 0 147202 141441 288643 0 157363 0 131280 77568 0 77568 0 0 208848 0 0 0 131280 77568 Schedule A, Part I, Line 12g, Column (vi): The Philip Hofer Charitable Trust exists exclusively to generate earnings on its investments in order to fund charitable grants to the Houghton Library at Harvard College. Almost all annual cash outlays paid by the Trust, other than grants, are for investment advisory fees, tax-compliance costs, minor administrative expenses, and state and tax filing fees. These costs are incurred by the Trust as a direct result of its investment activity, its grant-generating process, and its tax compliance requirements. Accordingly, all Trust expenditures in a given year are incurred in pursuit of the Trust's primary mission to support the Houghton Library. Therefore, all other operating costs incurred by the Trust can accurately be said to represent other monetary support paid for by the Trust for the benefit of Harvard College, the named supported organization. Schedule A, Part IV, Section D, Lines 2-3: Due to the nature of the relationship between the Philip Hofer Charitable Trust's (the Trust) and the President and Fellows of Harvard College (the College), the College maintains a significant voice in the Trust's operations, and the Trust is responsive to the needs and demands of the College. The Trust's governing and trust documents mandate that the Trust's Board of Trustees shall always have three members, one of whom shall always be an individual appointed by the governing board of Harvard College, the named supported organization of the Trust. Additionally, it is mandated in the Trust's governing documents that the Trust is created to be operated exclusively for the benefit of and in connection with the Department of Printing and Graphic Arts of the Houghton Library at Harvard University (recognized as part of the President and Fellows of Harvard College). The Trust's governing documents further stipulate distribution requirements for grants paid to the College. The Trust's active trustees are required to submit an account of their administration of Trust-assets to the College each year, indicating the nature and performance of the Trust's investments. Additionally, every year, after the close of the Trust's tax year, the Trust submits to the College a notice of its type and amount of support, its most recently filed tax returns, and its most recently adopted governing documents (if amended or altered since the previous notice). As the College has direct influence over appointments to the Trust's Board, and because the Trust's investments must be reportable to the College and meet certain performance standards (the Trustees must ensure that the assets of the Trust meet a certain rate of return as reviewed by the College), the College holds a significant voice in the supporting organization's operations. For these reasons, the Trust satisfies the Responsiveness Test. Schedule A, Part V, Section D, Line 8: In its tax year ending December 31, 2022, the Philip Hofer Charitable Trust (the Trust) paid direct grants of $52,455 to the President and Fellows of Harvard College (the College) for the purpose of maintaining and funding the Houghton Library. The Trust's operations and relationship with the College satisfies the attentiveness test for the following reasons: (1) the Trust only pays grants to Harvard College; (2) the grants paid to Harvard College are to be used exclusively to support the Houghton Library, one of many programs and initiatives at the College. The Library relies heavily on donations from the general public to maintain operations. Accordingly, the Trust's grants are significant to the Library, an on-going function and activity of the supported organization; (3) the College exercises significant influence and oversight over the Trust's operations, including the administration of the Trust's investments and decisions over board composition; and (4) the Trust and the College have worked together to provide funding for the College's Library since 1981, as of the Trust's inception. As addressed in the supplementary disclosure for the Trust's Form 990, Schedule A, Part IV, Section D, Lines 2-3, the Trust's operations and relationship with the College also satisfy the Responsiveness Test. Therefore, the Trust satisfies both the Responsiveness and the Attentiveness Tests. Accordingly, 100% of the Trust's annual grants paid to the College have been shown on the Trust's Schedule A, Part V, Section D, Line 8, distributions to attentive supported organizations to which the organization is responsive. 1 President and Fellows of Harvard College 1033 Massachusetts Avenue Suite 3 Cambridge MA 02138 042103580 501(c)(3) 52455 0 Support for the Houghton Library at Harvard University 1 0 Part I, Line 2: The Philip Hofer Charitable Trust's primary exempt mission is to generate funds and investment-earnings to be used in the support of the Houghton Library at the President and Fellows of Harvard College. As such, Harvard College is the only organization to which the Trust awards charitable donations. Records and documentation of the Trust's annual giving and support of Harvard College is maintained in the Trust's portfolio statements. In addition, Harvard College approves a portion of the Trust's appointees to its Board of Directors, the Trust must submit administration-reports to the College annually, and the College also has certain oversight and control powers over the Trust. Choate LLP Trustee 37445 Investment management, recordkeeping, custody, grant administration, and legal services rendered in the ordinary course of business. Fees are calculated as percentage of assets held. William A. Lowell, Kristin T. Abait, Charles A. Cheever, and Alexander Thorndike are trustees of the Organization, and are partners in the law firm of Choate Hall & Stewart, LLP, the provider of these services. In its 2022 tax year, the Trust paid Choate Hall & Stewart $37,445 for these services. 0 Form 990, Part VI, Section A, line 3 The trustees of the Organization delegate investment responsibility to Choate Investment Advisors, LLC, a registered investment advisor subsidiary of Choate Hall & Stewart, LLP. Form 990, Part VI, Section A, line 8b The Trust does not have committees with the authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The annual Form 990 (and state Form PC) are provided to the managing trustees review prior to those forms being filed. Form 990, Part VI, Section C, line 19 The Trust makes all documents available upon request. Form 990, Part XI, line 9: Deposits of IRS Tax Refunds 9,318. President and Fellows of Harvard College 1033 Massachusetts Avenue Suite 3 Cambridge MA 02138 042103580 Educational institution MA 501(c)(3) Line 2 N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0