2024-05-10T11:13:37-05:00 2023-06-30 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2022-07-01 043246517 JAMES M AND CATHLEEN D STONE FAMILY FOUNDATION INC JAME 6179511504 695 ATLANTIC AVENUE BOSTON MA 02111 LEE PELTON CLERK 6179511504 2024-05-10 1 LEE PELTON 999009999 1 KIMBERLY MAC NAMEE P02479140 6179881000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CATHLEEN D STONE 695 ATLANTIC AVENUE BOSTON MA 02111 9648349 0 X N/A X 1994 MA TO PROMOTE THE EDUCATIONAL AND SCIENTIFIC PURPOSES OF HARVARD UNIVERSITY AND THE BOSTON FOUNDATION, INC. BY PROVIDING SUPPORT FOR RESEARCH AND EDUCATION IN A VARIETY OF FIELDS. 7 5 0 7 0 0 15647199 610000 0 0 593616 1085190 0 0 16240815 1695190 4729000 4848000 0 0 0 0 0 0 0 270925 255045 4999925 5103045 11240890 -3407855 8055068 4273486 0 0 8055068 4273486 GRANTMAKING: TO PROMOTE THE EDUCATIONAL AND SCIENTIFIC PURPOSES OF HARVARD UNIVERSITY AND THE BOSTON FOUNDATION, INC. BY PROVIDING SUPPORT FOR RESEARCH AND EDUCATION IN A VARIETY OF FIELDS. 0 0 4965563 4848000 GRANTMAKING: TO PROMOTE THE EDUCATIONAL AND SCIENTIFIC PURPOSES OF HARVARD UNIVERSITY AND THE BOSTON FOUNDATION, INC. BY PROVIDING SUPPORT FOR RESEARCH AND EDUCATION IN A VARIETY OF FIELDS. 4965563 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 4 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 5 1 0 1 0 1 1 1 1 1 0 0 1 1 1 1 0 0 0 0 0 MA X BESSEMER TRUST COMPANY 6172794094 TWO INTERNATIONAL PLACE BOSTON MA 02110 M LEE PELTON CLERK & TRUSTEE 1.50 50.00 X X 0 746956 66561 JENNIFER PACHUS TRUSTEE 1.00 50.00 X 0 379456 26636 CATHLEEN D STONE PRESIDENT & TRUSTEE 1.00 0.00 X X 0 0 0 JAMES M STONE CHAIR & TRUSTEE 1.00 0.00 X X 0 0 0 JAMES N BAILEY TREASURER & TRUSTEE 1.00 0.00 X X 0 0 0 STEPHEN KINZER TRUSTEE 1.00 0.00 X 0 0 0 JOHN MONTGOMERY TRUSTEE 1.00 0.00 X 0 0 0 0 1126412 93197 0 0 1 0 0 610000 610000 76276 76276 8962073 7953159 1008914 1008914 1008914 1695190 0 0 1085190 4848000 4848000 79000 79000 14085 14085 18555 18555 129208 112875 16333 1039 1036 3 10137 3652 6485 WITHHOLDING TAX 1271 1271 BUSINESS REGISTRATION E 1000 1000 MEMBERSHIP DUES 750 750 5103045 4965563 137482 0 63839 142379 7991229 4131107 8055068 4273486 0 0 0 0 X 8055068 4273486 8055068 4273486 8055068 4273486 -3407855 -373727 0 X 0 1 X 1 0 X X 2 BOSTON FOUNDATION INC 042104021 8 1 4773000 0 PRESIDENT AND FELLOWS OF HARVARD COLLEGE 042103580 2 1 75000 0 2 4848000 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 18281 76276 18281 76276 0 0 0 0 0 0 18281 76276 5333595 6238412 635462 69536 0 0 5969057 6307948 0 0 0 5969057 6307948 89536 94619 5879521 6213329 205783 217467 0 0 205783 217467 18281 15539 205783 205783 0 205783 4848000 0 0 0 0 0 4848000 75000 205783 36.450000000000 205783 0 4730000 5222000 4987000 3699000 4729000 23367000 0 205783 4524217 18637000 4848000 0 4848000 0 0 23485000 5222000 4987000 3699000 4729000 4848000 SCHEDULE A, PART IV, SECTION D, LINE 3: THE BOSTON FOUNDATION, INC. AND HARVARD UNIVERSITY, THROUGH THEIR REPRESENTATIVES WHO SERVED AS TRUSTEES ON THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC. BOARD, HAD A SIGNIFICANT VOICE IN THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC.'S USE OF INCOME AND ASSETS. SCHEDULE A, PART V, SECTION D, LINE 8: HARVARD UNIVERSITY WAS AN ATTENTIVE SUPPORTED ORGANIZATION TO WHICH THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC. WAS RESPONSIVE. AS DESCRIBED IN THE DISCLOSURE FOR SCHEDULE A, PART IV, SECTION D, LINE 3, A REPRESENTATIVE SELECTED BY HARVARD SAT ON THE BOARD OF TRUSTEES OF THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC. DEMONSTRATING RESPONSIVENESS, AS HARVARD HAD A SIGNIFICANT VOICE IN DIRECTING THE USE OF THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC.'S INCOME OR ASSETS. FURTHER, THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC.'S GRANTS TO HARVARD UNIVERSITY WERE DIRECTED TO SPECIFIC PROGRAMS AT THE KENNEDY SCHOOL AND WERE THEREFORE EARMARKED FOR SUBSTANTIAL PROGRAMS AT HARVARD UNIVERSITY, WHICH EVIDENCES ATTENTIVENESS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X PART X, LINE 2: THE FOUNDATION IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501 (A) OF THE CODE AND QUALIFIES AS A PUBLIC CHARITY UNDER SECTION 170 (B) (1) (A) (VI) (SIC) OF THE CODE. THE FOUNDATION HAS NOT TAKEN ANY TAX POSITIONS WHICH WOULD HAVE A MATERIAL EFFECT, INDIVIDUALLY OR IN THE AGGREGATE, UPON THE FOUNDATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION BELIEVES IT HAS NOT TAKEN ANY SIGNIFICANT UNCERTAIN TAX POSITIONS OR ANY TAX POSITIONS THAT WOULD JEOPARDIZE THE FOUNDATION'S TAX EXEMPT STATUS. 1 BOSTON FOUNDATION INC 75 ARLINGTON STREET BOSTON MA 02116 042104021 501 (C) (3) 4773000 0 PROGRAM SUPPORT PRESIDENT AND FELLOWS OF HARVARD COLLEGE 124 MT AUBURN STREET CAMBRIDGE MA 02138 042103580 501 (C) (3) 75000 0 PROGRAM SUPPORT 2 SCHEDULE I, PART I, LINE 2: ONE REPRESENTATIVE FROM EACH SUPPORTED ORGANIZATION WAS ON THE BOARD OF THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC. AND WAS ABLE TO REPORT TO THE BOARD ON THE USE OF GRANT FUNDS. IN ADDITION, UPDATED INFORMATION ABOUT GRANTEES WAS PROVIDED TO THE BOARD. 0 1 0 0 0 0 0 0 0 M LEE PELTON CLERK & TRUSTEE 0 732327 0 0 0 14629 0 38800 0 27761 0 813517 0 0 JENNIFER PACHUS TRUSTEE 0 379456 0 0 0 0 0 2600 0 24036 0 406092 0 0 PART I, LINE 4B M. LEE PELTON PARTICIPATED IN A SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN (SERP). THE TOLAL NON-TAXABLE SERP CONTRIBUTIONS FOR MR. PELTON FOR CALENDAR YEAR 2022 IS $20,500. SCHEDULE J, PART II NO OFFICER OR TRUSTEE OF THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC. IS COMPENSATED BY THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC. SEE SCHEDULE O. NOTE THAT THE COMPENSATION REPORTED FOR LEE PELTON AND JENNIFER PACHUS WAS PAID BY THEIR RESPECTIVE EMPLOYERS FOR SERVICES PROVIDED TO THEIR EMPLOYERS, WHICH WERE SUPPORTED ORGANIZATIONS OF THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC. THE COMPENSATION REPORTED FOR JENNIFER PACHUS REPRESENTS HER W-2 COMPENSATION FROM HARVARD UNIVERSITY. DUE TO THE UNAVAILABILITY OF ADDITIONAL COMPENSATION INFORMATION FROM HARVARD UNIVERSITY, THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION, INC. IS NOT REPORTING ANY ADDITIONAL DEFERRED OR NON-TAXABLE COMPENSATION FOR CALENDAR YEAR 2022. FORM 990, PART VI, SECTION A, LINE 2 CATHLEEN D. STONE AND JAMES M. STONE HAVE A FAMILY RELATIONSHIP. JAMES M. STONE AND JAMES N. BAILEY HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 THE FOUNDATION'S ARTICLES OF ORGANIZATION AND BY-LAWS WERE AMENDED AND RESTATED EFFECTIVE AS OF JULY 1, 2023 TO CONVERT THE FOUNDATION FROM A SUPPORTING ORGANIZATION TO A PRIVATE NON-OPERATING FOUNDATION, AND THE FOUNDATION WILL THEREFORE COMMENCE FILING FORMS 990-PF BEGINNING WITH ITS TAX YEAR ENDING JUNE 30, 2024. IN ACCORDANCE WITH THE FOREGOING, THE FOUNDATION'S PURPOSE IN ITS ARTICLES OF ORGANIZATION WAS AMENDED. EFFECTIVE AS OF JULY 1, 2023, THE FOUNDATION'S PURPOSE IS TO MAKE GRANTS FOR CHARITABLE, EDUCATIONAL, SCIENTIFIC AND LITERARY PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE DISSOLUTION CLAUSE IN THE FOUNDATION'S ARTICLES OF ORGANIZATION WAS AMENDED TO REMOVE REFERENCES TO THE FOUNDATION'S SUPPORTED ORGANIZATIONS. EFFECTIVE AS OF JULY 1, 2023, THE FOUNDATION'S ARTICLES PROVIDE, IN PERTINENT PART, THAT, UPON THE LIQUIDATION OR DISSOLUTION OF THE FOUNDATION, ITS NET ASSETS WILL BE DISTRIBUTED TO ONE OR MORE ORGANIZATIONS WITH SIMILAR PURPOSES AS SHALL QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION'S BY-LAWS WERE LIKEWISE REVISED, EFFECTIVE AS OF JULY 1, 2023, TO REMOVE ALL REFERENCES TO ITS SUPPORTED ORGANIZATIONS, WHICH AMENDMENTS PARTICULARLY IMPACTED THE COMPOSITION OF THE FOUNDATION'S BOARD OF TRUSTEES. MINOR UPDATES WERE MADE TO BOTH THE ARTICLES OF ORGANIZATION AND BY-LAWS AS WELL. FORM 990, PART VI, SECTION A, LINE 6 JAMES AND CATHLEEN STONE CURRENTLY SERVE AS THE MEMBERS OF THE FOUNDATION. DURING THE FOUNDATION'S TAX YEAR ENDING 6/30/23, THE BY-LAWS OF THE FOUNDATION ESTABLISHED THE RIGHTS OF MEMBERS TO ELECT THE TRUSTEES BUT SUBJECT TO A REQUIREMENT THAT ONE TRUSTEE MUST BE A REPRESENTATIVE OF HARVARD AND ONE A REPRESENTATIVE OF THE BOSTON FOUNDATION, INC. THE BY-LAWS FURTHER PROVIDED THAT MEMBERS AND PERSONS RELATED TO THEM OR WITH WHOM THEY HAVE A CERTAIN CLOSE RELATIONSHIP MAY NOT CONSTITUTE AS MUCH AS 50% OF THE VOTING POWER OF THE BOARD. THE MEMBERS DO NOT HAVE THE RIGHT TO APPROVE THE DECISIONS OF THE TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A JAMES AND CATHLEEN STONE CURRENTLY SERVE AS THE MEMBERS OF THE FOUNDATION. DURING THE FOUNDATION'S TAX YEAR ENDING 6/30/23, THE BY-LAWS OF THE FOUNDATION ESTABLISHED THE RIGHTS OF MEMBERS TO ELECT THE TRUSTEES BUT SUBJECT TO A REQUIREMENT THAT ONE TRUSTEE MUST BE A REPRESENTATIVE OF HARVARD AND ONE A REPRESENTATIVE OF THE BOSTON FOUNDATION, INC. THE BY-LAWS FURTHER PROVIDED THAT MEMBERS AND PERSONS RELATED TO THEM OR WITH WHOM THEY HAVE A CERTAIN CLOSE RELATIONSHIP MAY NOT CONSTITUTE AS MUCH AS 50% OF THE VOTING POWER OF THE BOARD. THE MEMBERS DO NOT HAVE THE RIGHT TO APPROVE THE DECISIONS OF THE TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B PURSUANT TO THE FOUNDATION'S BY-LAWS, THE MEMBERS OF THE FOUNDATION ELECT THE TRUSTEES OF THE FOUNDATION AND HAVE THE POWER TO REMOVE TRUSTEES. IN ADDITION, THE MEMBERS HAVE THE ABILITY TO ALTER, AMEND, OR REPEAL THE FOUNDATION'S BY-LAWS AND THE RIGHT TO ALTER, AMEND, OR REINSTATE ANY AMENDMENTS TO THE BY-LAWS MADE BY THE TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE FOUNDATION'S FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND IS REVIEWED BY OUTSIDE ADVISORS BEFORE A FINAL DRAFT IS MADE AVAILABLE TO ALL MEMBERS OF THE GOVERNING BODY FOR REVIEW AND COMMENT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES ARE PROVIDED WITH AN ANNUAL DISCLOSURE FORM TO LIST POTENTIAL CONFLICTS. CONFLICTS ARE REVIEWED AND IF A CONFLICT ARISES, THE TRUSTEE WOULD RECUSE HIM/HERSELF FROM DISCUSSION REGARDING THE POTENTIAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE JAMES M. AND CATHLEEN D. STONE FAMILY FOUNDATION DOES NOT COMPENSATE ANY OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE. THOSE TRUSTEES WHO SERVED AS REPRESENTATIVES OF THE FOUNDATION'S SUPPORTED ORGANIZATIONS, BOSTON FOUNDATION, INC. AND PRESIDENT AND FELLOWS OF HARVARD COLLEGE, WERE EMPLOYED BY THOSE ORGANIZATIONS. COMPENSATION WAS PAID TO LEE PELTON BY THE BOSTON FOUNDATION EXCLUSIVELY FOR HIS SERVICES TO THE BOSTON FOUNDATION. COMPENSATION WAS PAID TO JENNIFER PACHUS BY PRESIDENT AND FELLOWS OF HARVARD COLLEGE EXCLUSIVELY FOR HER SERVICES TO PRESIDENT AND FELLOWS OF HARVARD COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS REQUIRED BY LAW TO BE MADE AVAILABLE TO THE PUBLIC ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. BOSTON FOUNDATION INC 75 ARLINGTON STREET BOSTON MA 02116 042104021 COMMUNITY SUPPORT MA 501(C)(3) LINE 8 N/A 0 PRESIDENT AND FELLOWS OF HARVARD COLLEGE 124 MT AUBURN STREET CAMBRIDGE MA 02136 042103580 EDUCATION MA 501(C)(3) LINE 2 N/A 0 THE JAMES M AND CATHLEEN D STONE FND 695 ATLANTIC AVENUE BOSTON MA 02111 836533785 GRANTMAKING MA 501(C)(3) PF N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0