Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2010
For calendar year 2010, or tax year beginning 01-01-2010 , and ending 12-31-2010
G
Check all that apply:
Name of foundation
Cummings Foundation Inc
 

Number and street (or P.O. box number if mail is not delivered to street address)200 West Cummings Park   Room/suite
City or town, state, and ZIP code
Woburn, MA01801
A Employer identification number

04-3073023
B Telephone number (see page 10 of the instructions)

(781) 935-8000
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$834,371,069J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 8,500,845
2 Check bullet
3 Interest on savings and temporary cash investments 1,517 1,517 1,517
4 Dividends and interest from securities...... 6,906,643 6,906,643 6,906,643
5a Gross rents.............. 41,914 41,914 41,914
b Net rental income or (loss) 29,392
6a Net gain or (loss) from sale of assets not on line 10 -1,606,666
b Gross sales price for all assets on line 6a 83,970,607
7 Capital gain net income (from Part IV, line 2)...  
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 105,715,853 39,066,982 105,715,853
12 Total. Add lines 1 through 11........ 119,560,106 46,017,056 112,665,927
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 381,817     381,817
14 Other employee salaries and wages...... 31,724,635 2,275 28,152,005 31,722,360
15 Pension plans, employee benefits....... 757,951     757,951
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 6,268     6,268
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 954,449 179,129    
19 Depreciation (attach schedule) and depletion... Click to see attachment 259,669   259,669
20 Occupancy.............. 3,287,803 7,174 1,507,174 3,280,629
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 27,206,081 696,385 22,150,451 26,509,696
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 64,578,673 884,963 52,069,299 62,658,721
25 Contributions, gifts, grants paid........ 35,415 35,415
26 Total expenses and disbursements. Add lines 24 and 25 64,614,088 884,963 52,069,299 62,694,136
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 54,946,018
b Net investment income (if negative, enter -0-) 45,132,093
c Adjusted net income (if negative, enter -0-)... 60,596,628
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2010)
Form 990-PF (2010)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 469,068 11,101 11,101
2 Savings and temporary cash investments.......... 23,346,920 16,077,468 16,077,468
3 Accounts receivable bullet3,084,007
Less: allowance for doubtful accounts bullet0 3,376,074 3,084,007 3,084,007
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use............... 45,385 37,165 37,165
9 Prepaid expenses and deferred charges........... 141,028 102,259 102,259
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 265,438,898 Click to see attachment284,678,709 334,686,911
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............. 2,301,347 2,282,099 2,282,099
13 Investments—other (attach schedule)........... 428,329,457 Click to see attachment469,885,264 475,592,473
14 Land, buildings, and equipment: basis bullet8,139,239
Less: accumulated depreciation (attach schedule) bullet5,641,653 2,626,992 Click to see attachment2,497,586 2,497,586
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 726,075,169 778,655,658 834,371,069
Liabilities 17 Accounts payable and accrued expenses.......... 838,964 859,081
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment23,407,963 Click to see attachment23,122,317
23 Total liabilities (add lines 17 through 22).......... 24,246,927 23,981,398
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................... 701,828,242 754,674,260
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 701,828,242 754,674,260
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 726,075,169 778,655,658
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 701,828,242
2 Enter amount from Part I, line 27a...................... 2 54,946,018
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 756,774,260
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 2,100,000
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.. 6 754,674,260
Form 990-PF (2010)
Form 990-PF (2010)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b COUSINS PROPERTIES LT CAPITAL GAIN DISTRIBUTION      
c DUKE REALTY LT CAPITAL GAIN DISTRIBUTION      
d VORNADO REALTY DISTRIBUTION SEC 1250 CAPITAL GAIN      
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 83,970,607   85,612,172 -1,641,565
b 23,540     23,540
c 10,651     10,651
d 708     708
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       -1,641,565
b       23,540
c       10,651
d       708
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -1,606,666
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3 0
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2009 61,619,111 628,440,923 0.098051
2008 63,345,965 701,624,746 0.090285
2007 58,823,161 652,455,944 0.090157
2006 61,048,786 582,926,001 0.104728
2005 54,279,642 488,551,746 0.111103
2 Total of line 1, column (d) ...................... 2 0.494324
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.098865
4 Enter the net value of noncharitable-use assets for 2010 from Part X, line 5..... 4 735,114,956
5 Multiply line 4 by line 3....................... 5 72,677,140
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 451,321
7 Add lines 5 and 6......................... 7 73,128,461
8 Enter qualifying distributions from Part XII, line 4.............. 8 62,694,136
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2010)
Form 990-PF (2010)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 902,642
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2............................ 3 902,642
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 902,642
6 Credits/Payments:
a 2010 estimated tax payments and 2009 overpayment credited to 2010 6a 1,103,267
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,103,267
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 200,625
11 Enter the amount of line 10 to be: Credited to 2011 estimated taxBullet200,625 Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? Click to see attachment....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?.............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changesClick to see attachment....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.Click to see attachment
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletMA
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV...........................
    9
    Yes
     
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) Click to see attachment.......
    11
    Yes
     
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullethttp://www.cummingsfoundation.org
    14
    The books are in care ofbulletWILLIAM F GRANT Telephone no.bullet (781) 935-8000
    Located atbullet200 WEST CUMMINGS PARKWOBURNMA ZIP+4bullet01801
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2010, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2010?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2010, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2010?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2010 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2010.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2010?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
    No
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    Joyce M Cummings TRUSTEE & TREASURER
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    Patricia A Cummings TRUSTEE & Vice President
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    William S Cummings TRUSTEE & PRESIDENT
    45.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    Robert O Connor TRUSTEE & EXEC DIR NHM
    45.0     		165,212 8,696 18,000
    400 hemenway street
    marlborough,MA01752
    Joseph A Abate MD Trustee
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    Lawrence S Bacow PhD Trustee
    1.0     		0 0 0
    Harvard University
    Cambridge,MA02138
    HON Margot Botsford Trustee
    1.0     		0 0 0
    supreme judicial court
    boston,MA02108
    Paul C Casey Trustee
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    Carol A Donovan Trustee
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    DEBORAH T KOCHEVAR DVM PHD Trustee
    1.0     		0 0 0
    cummings school of veterinary
    north grafton,MA01536
    Jason Z Morris PhD Trustee
    1.0     		0 0 0
    fordham university
    bronx,NY10458
    Marilyn Cummings Morris MD Trustee
    1.0     		0 0 0
    Childrens Hospital
    New York,NY10001
    Richard C Ockerbloom Trustee
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    Joel B Swets EXEC DIR, CUMMINGS FND
    45.0     		101,626 6,552 0
    200 West Cummings Park
    Woburn,MA01801
    Michael P Pascavage TRUSTEE
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    Jed Geyerhahn Exec Dir, New Horizons Choate
    45.0     		114,979 15,461 0
    21 Warren Avenue
    Woburn,MA01801
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    ERICA WRIGHT LEASING MGR
    50.0     		159,201 12,736 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    JUSTIN MAGEE DIVISION MGR
    50.0     		158,093 6,189 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    STEVE COSTA PROPERTY MANAGER
    50.0     		134,907 11,606 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    KEN ORSO SR ELECTRICAL TEAM
    50.0     		123,537 10,247 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    DEREK RUSSELL OPERATIONS MGR
    50.0     		120,663 4,383 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    Total number of other employees paid over $50,000...................bullet 74
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    HEALTH CARE STAFFING INC Assisted Living Svcs 1,344,517
    PO Box 786
    WESTBOROUGH,MA01581
    Winchester Healthcare Enterprises Inc Assisted Living Svcs 656,590
    PO Box 5-0803
    WOBURN,MA01801
    Merrill Lynch Trust CO Investment Svcs 513,683
    One Federal Street
    BOSTON,MA02134
    COMMONFUND INVESTMENT SVCS 197,198
    15 Old Danbury Rd
    WILTON,CT06897
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 SEE GENERAL EXPLANATION ATTACHMENT - NEW HORIZONS AT CHOATE 3,553,535
    2 SEE GENERAL EXPLANATION ATTACHMENT - NEW HORIZONS AT MARLBOROUGH 7,312,622
    3 SEE GENERAL EXPLANATION ATTACHMENT - CUMMINGS SCHOOL OF VETERINARY MEDICINE 51,797,115
    4  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3...........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    356,453,033
    b
    Average of monthly cash balances.......................
    1b
    569,212
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    389,287,355
    d
    Total (add lines 1a, b, and c).........................
    1d
    746,309,600
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) ..............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d..........................
    3
    746,309,600
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ............................
    4
    11,194,644
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    735,114,956
    6
    Minimum investment return. Enter 5% of line 5...................
    6
    36,755,748
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2010 from Part VI, line 5......
    2a
     
    b
    Income tax for 2010. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4.............................
    5
     
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1.................................
    7
     
    Part XII
    Qualifying Distributions (see page 25 of the instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    62,694,136
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes................................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    62,694,136
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4...............
    6
    62,694,136
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2009     		(c)
    2009     		(d)
    2010
    1 Distributable amount for 2010 from Part XI, line 7  
    2 Undistributed income, if any, as of the end of 2010:
    a Enter amount for 2009 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2010:
    a From 2005.......  
    b From 2006.......  
    c From 2007.......  
    d From 2008.......  
    e From 2009.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2010 from Part
    XII, line 4: bullet$  
    a Applied to 2009, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		  
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		 
    d Applied to 2010 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2010.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		 
    e Undistributed income for 2009. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    f Undistributed income for 2010. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		 
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		 
    8Excess distributions carryover from 2005 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		 
    9Excess distributions carryover to 2011.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2006....  
    b Excess from 2007....  
    c Excess from 2008....  
    d Excess from 2009....  
    e Excess from 2010....  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2010, enter the date of the ruling.......bullet
    1990-04-27
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2010 (b) 2009 (c) 2008 (d) 2007
    36,755,748 31,422,046 35,081,237 32,622,797 135,881,828
    b 85% of line 2a ......... 31,242,386 26,708,739 29,819,051 27,729,377 115,499,553
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		62,694,136 62,085,600 63,841,779 59,384,567 248,006,082
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		35,415 216,700 418,695 466,070 1,136,880
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		62,658,721 61,868,900 63,423,084 58,918,497 246,869,202
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ...... 834,371,069 732,896,111 678,931,638 698,395,781 2,944,594,599
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		 386,789,769 380,489,769 392,839,769 366,954,969 1,527,074,276
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		24,503,832 20,948,031 23,387,491 21,748,531 90,587,885
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		75,149,716 66,141,190 66,437,632 60,707,792 268,436,330
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		66,649,716 66,141,190 66,437,632 60,707,792 259,936,330
    (3) Largest amount of support
    from an exempt organization    		 0 0 0 0 0
    (4) Gross investment income 46,465,999 47,204,130 50,468,056 60,859,056 204,997,241
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    WILLIAM S CUMMINGS PATRICIA A CU
    JOYCE CUMMINGS AND JASON Z MORRIS
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    AMERICAN CANCER SOCIETY
    US 1 HIGHWAY SUITE 201
    ROCKLEDGE,FL32955     		NONE 509(a)1 Cancer Research Treatment 1,000
    ARTHRITIS FOUNDATION MA CHAPTER
    29 CRAFTS STREET 450
    NEWTON,MA02458     		NONE 509(a)1 Health Research and Programs 75
    ASSABET VALLEY REGIONAL VOCATIONAL
    215 FITCHBURG STREET
    MARLBOROUGH,MA01752     		NONE 509(a)1 Youth Education 500
    BOYS AND GIRLS CLUB OF WOBURN INC
    CHARLES GARDNER LANE
    WOBURN,MA01801     		NONE 509(a)2 Youth Enrichment Program 2,500
    BRIGHAM AND WOMEN'S HOSPITAL
    116 HUNTING AVENUE
    BOSTON,MA02116     		NONE 509(a)1 Healthcare Services 50
    BUDDY DOG HUMANE SOCIETY
    151 BOSTON POST ROAD
    SUDBURY,MA01776     		NONE 509(a)1 Animal Welfare 500
    CATHOLIC RELIEF SERVICES USCCB
    228 W LEXINGTON STREET
    BALTIMORE,MD21201     		NONE 509(a)1 Services 500
    CHILDREN'S HOSPITAL - BOSTON
    300 LONGWOOD AVENUE
    BOSTON,MA02215     		none 509(a)1 Community Healthcare Program 150
    ELIZABETH STONE HOUSE
    PO BOX 300039
    JAMAICA PLAIN,MA02130     		none 509(a)1 Domestic Violence Awareness 75
    ENTERTAINMENT INDUSTRY FOUNDATION
    1201 WEST 5TH STREET T-700
    LOS ANGELES,CA90017     		none 509(a)1 Disaster Emergency Relief 200
    FENWAY COMMUNITY HEALTH CENTER INC
    1340 BOYLSTON STREET
    BOSTON,MA02215     		none 509(a)1 Community Healthcare Program 50
    FRED'S FUND
    77 STICKNEY HILL ROAD
    CONCORD,NH03301     		none 509(a)1 Health Research and Programs 100
    GREATER BOSTON FOOD BANK INC
    70 SOUTH BAY
    BOSTON,MA02118     		none 509(a)1 Community Charity Drive 100
    HEALING ABUSE
    27 CONGRESS STREET
    SALEM,MA01970     		none 509(a)2 Domestic Violence Awareness 100
    HEIFER INTERNATIONAL
    1 WORLD AVENUE
    LITTLE ROCK,AR72202     		none 509(a)1 Poverty Assistance Third World 50
    HOSPICE ASSOCIATION OF CAPE COD
    765 ATTUCKS LANE
    HYANNIS,MA02601     		none 509(a)1 Community Healthcare Program 160
    HOSPICE ASSOCIATION OF CAPE COD
    765 ATTUCKS LANE
    HYANNIS,MA02601     		none 509(a)1 Community Healthcare Program 100
    LYMPHONA RESEARCH FOUNDATION
    115 BROADWAY 13TH FLOOR
    NEW YORK,NY10006     		none 509(a)1 Health Research and Programs 100
    NORTH SUBURBAN YMCA
    137 LEXINGTON STREET
    WOBURN,MA01801     		none 509(a)1 Extracurricular Educational Pr 50
    NORTHEASTERN UNIVERSITY
    360 HUNTINGTON AVE 501
    BOSTON,MA02115     		none 509(a)1 Educational Scholarships 200
    OLD COLONY SENIOR SERVICES
    144 MAIN STREET
    BROCKTON,MA02301     		none 509(a)1 Elder Services 40
    ONLY A CHILD INC
    PO BOX 990885
    BOSTON,MA02199     		none 509(a)1 Youth Welfare Program 50
    OXFAM AMERICA INC
    226 CAUSEWAY STREET 5TH FLOOR
    BOSTON,MA02114     		none 509(a)1 Poverty Assistance Third World 100
    PARTNERS IN HEALTH
    641 HUNTINGTON AVENUE
    BOSTON,MA02284     		none 509(a)1 Poverty Assistance Third World 500
    PROJECT BREAD
    145 BORDER STREET
    BOSTON,MA02128     		none 509(a)1 Community Welfare Program 50
    SOUTH SHORE ELDER SERVICES
    159 BAY STATE DRIVE
    BRAINTREE,MA02184     		none 509(a)2 Elder Services 40
    SUSAN G KOMEN DETROIT
    4100 JOHN R
    DETROIT,MI48201     		none 509(a)1 Health Research and Programs 250
    THE SALVATION ARMY
    25 SHAWMUT ROAD
    CANTON,MA02021     		none 509(a)1 Community Charity Drive 100
    THE SMILE TRAIN
    41 MADISON AVE 28th FLOOR
    NEW YORK,NY10010     		none 509(a)1 Health Research and Programs 125
    TOWN OF WINCHESTER
    71 MT VERNON STREET
    WINCHESTER,MA01890     		none 509(a)1 Memorial Fund 200
    TRUSTEES OF BOSTON UNIVERSITY
    890 COMMONWEALTH AVE
    BOSTON,MA02215     		none 509(a)1 Educational Programming 50
    TRUSTEES OF PHILLIPS ACADEMY
    180 MAIN STREET
    ANDOVER,MA01810     		none 509(a)1 Educational Programming 100
    UC REGENTS
    405 HILGARD AVENUE
    LOS ANGELES,CA90095     		none 509(a)1 Educational Scholarships 10,000
    UNIVERSITY OF CHICAGO
    75 REMITTANCE DRIVE SUITE 1958
    CHICAGO,IL60675     		none 509(a)1 Educational Scholarships 5,000
    UNIVERSITY OF MASSACHUSETTS LOWELL
    883 BROADWAY
    LOWELL,MA01854     		none 509(a)1 Educational Scholarships 1,000
    UNIVERSITY OF MASSACHUSETTS-AMHERST
    215 WHITMORE BLDG BURSARS OFFICE
    AMHERST,MA01003     		none 509(a)1 Educational Scholarships 5,000
    UNIVERSITY OF VERMONT
    411 MAIN STREET
    BURLINGTON,VT05405     		none 509(a)1 Educational Scholarships 100
    Wilkes University
    84 West South Street
    WilkesBarre,PA18766     		none 509(a)1 Educational Scholarships 1,000
    WINCHESTER HOSPITAL FOUNDATION
    41 HIGHLAND AVENUE
    WINCHESTER,MA01890     		none 509(a)1 Healthcare Services 5,000
    WINCHESTER NEIGHBORS CLUB (WNC)
    37 CALUMET ROAD
    WINCHESTER,MA01890     		none 509(a)2 Community Enrichment Programs 150
    Total .................................bullet 3a 35,415
    bApproved for future payment
    Total ..................................bullet 3b  
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    aSENIOR FACILITY REVENUE         15,490,772
    bHOME HEALTH CARE REVENUE         1,829,510
    cVET SCHOOL REVENUE         49,297,115
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 1,517  
    4 Dividends and interest from securities....     14 6,906,643  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 29,392  
    6Net rental income or (loss) from personal property          
    7 Other investment income..... 523000 9 14 39,066,973  
    8Gain or (loss) from sales of assets other than inventory     18 -1,606,666  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aMISC. REVENUE     01 31,474  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 9 44,429,333 66,617,397
    13Total. Add line 12, columns (b), (d), and (e)...................
    13111,046,739
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    1A Part of the primary exempt purpose of Cummings Foundation is to operate two not-for profit residential independent and assisted living facilities for seniors. Senior facility revenue is income from the operation of such facilities.
    1B Part of the primary exempt purpose of Cummings Foundation is to provide home health care to seniors. Home health care revenue is income from the provision of such care to seniors.
    1C Cummings Foundation has entered into a long-term agreement with Tufts University to operate its veterinary school through a subsidiary called Veterinary School at Tufts, LLC. Cummings Foundation will contribute at least $50 million to support the newly-renamed Cummings School of Veterinary Medicine over the next 15-20 years. The IRS issued a private letter ruling on May 6, 2004, confirming that the distributions directed to Tufts University and the expenses Cummings Foundation incurs in operating the Cummings School constitute qualified distributions directly for the active conduct of Cummings Foundation's exempt purposes.
    Form 990-PF (2010)
    Form 990-PF (2010)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash....................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements............................
    1b(4)
     
    No
    (5) Loans or loan guarantees..............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    HEM REALTY INC 501(C)(2) A DIVISION OF CFI
    NHC REALTY INC 501(C)(2) A DIVISION OF CFI
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2010)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    OMB No. 1545-0047
    2010
    Name of organization
    Cummings Foundation Inc
     
    Employer identification number

    04-3073023
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule—
    Special Rules
    ......................... Arrow Bullet   $    
    Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
    Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part I
    Name of organization
    Cummings Foundation Inc
          		Employer identification number

    04-3073023
    Part I
    Contributors (see Instructions)
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
    1
     
     

    William S Cummings    
    200 West Cummings Park
       
    Woburn, MA   01801

    		$100,000




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
    2
     
     

    Woburn Properties LLP    
    200 West Cummings Park
       
    Woburn, MA   01801

    		$8,400,000




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Aggregate contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is
    a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part II
    Name of organization
    Cummings Foundation Inc
          		Employer identification number

    04-3073023
    Part II
    Noncash Property (see Instructions)
    		     
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    2
    		 8 Cabot Road, Woburn, MA   $8,400,000 2010-12-31
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
    Page 1 of 1 of Part III
    Name of organization
    Cummings Foundation Inc
          		Employer identification number

    04-3073023
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

    Additional Data


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    TY 2010 DepreciationSchedule
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2010 GeneralExplanationAttachment
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Identifier Return Reference Explanation
    Form 990-PF, PART IX-A SUMMARY OF DIRECT CHARITABLE ACTIVITIES New Horizons at Choate - $3,553,535. Established in 1990 and accommodates 125 seniors. The facility is located in Woburn, MA. Formerly the Choate Memorial Hospital property, this property was converted to a retirement community which includes suites for independent living and assisted living units. New Horizons at Marlborough - $7,312,622. Established in 1993 and accommodates approximately 500 residents at its Marlborough, Massachusetts campus. Both facilities have the ability to accommodate active and independent seniors, seniors requiring assistance with activities of daily living (assisted living residents) and seniors suffering from Alzheimer's disease. Cummings School of Veterinary Medicine - $51,797,115. Cummings Foundation has entered into a long-term agreement with Tufts University to operate its veterinary school through a subsidiary called Veterinary School at Tufts, LLC. Cummings Foundation will contribute at least $50 million to support the newly-renamed Cummings School of Veterinary Medicine over the next 15-20 years. The IRS issued a Private Letter Ruling on May 6, 2004, confirming that the distributions to Tufts University and the expenses Cummings Foundation incurs in operating the Cummings School constitute qualified distributions directly for the active conduct of Cummings Foundation's exempt purposes.
    Attachment to Form 926, Part III Line 11   The following is additional information as requested by Regulations Section 1.6038B-1(c) and Temporary Regulations Sections 1.6038B-1T(c)(1) through 1.6038B-1T(c)(5) and 1.6038B-1T(d). Regulations Section 1.6038B-1T(c)(1): Transferor Cummings Foundation, Inc. EIN: 04-3073023 200 West Cummings Park Woburn, MA 01801 Regulations Section 1.6038B-1T(c)(2): Transfer (i): Boyer Allen Pacific Fund, Inc EIN: N/A Custom House Plaza Block 6 International Financial Service Center Dublin 1, Ireland (ii): Transfer of security/asset in the amount of $175,108 in consideration of ordinary shares. Regulations Section 1.6038B-1T(c)(3): Consideration Received Ordinary Shares Regulations Section 1.6038B-1T(c)(4): Property Transferred Security/asset in the amount of $175,108 Regulations Section 1.6038B-1T(c)(5): Transfer of foreign branch with previously deducted losses Not applicable Regulations Section 1.6038B-1T(c)(6): Application of Section 367(a)(5) Not applicable
    Attachment to Form 926, Part III Line 11   The following is additional information as requested by Regulations Section 1.6038B-1(c) and Temporary Regulations Sections 1.6038B-1T(c)(1) through 1.6038B-1T(c)(5) and 1.6038B-1T(d). Regulations Section 1.6038B-1T(c)(1): Transferor Cummings Foundation, Inc. EIN: 04-3073023 200 West Cummings Park Woburn, MA 01801 Regulations Section 1.6038B-1T(c)(2): Transfer (i): Glenview Capital Partners (Cayman) Limited EIN: N/A PO Box 896 GT, Harbour Center, 2nd Floor, North Church Street Grand Cayman, Cayman Islands (ii): Transfer of security/asset in the amount of $244,027 in consideration of ordinary shares. Regulations Section 1.6038B-1T(c)(3): Consideration Received Ordinary Shares Regulations Section 1.6038B-1T(c)(4): Property Transferred Security/asset in the amount of $244,027 Regulations Section 1.6038B-1T(c)(5): Transfer of foreign branch with previously deducted losses Not applicable Regulations Section 1.6038B-1T(c)(6): Application of Section 367(a)(5) Not applicable
    Attachment to Form 926, Part III Line 11   The following is additional information as requested by Regulations Section 1.6038B-1(c) and Temporary Regulations Sections 1.6038B-1T(c)(1) through 1.6038B-1T(c)(5) and 1.6038B-1T(d). Regulations Section 1.6038B-1T(c)(1): Transferor Cummings Foundation, Inc. EIN: 04-3073023 200 West Cummings Park Woburn, MA 01801 Regulations Section 1.6038B-1T(c)(2): Transfer (i): Henderson Asia Pacific Ltd EIN: N/A 201 Bishops Gate, London, EC2M 3AE United Kingdom (ii): Transfer of security/asset in the amount of $174,716 in consideration of ordinary shares. Regulations Section 1.6038B-1T(c)(3): Consideration Received Ordinary Shares Regulations Section 1.6038B-1T(c)(4): Property Transferred Security/asset in the amount of $174,716 Regulations Section 1.6038B-1T(c)(5): Transfer of foreign branch with previously deducted losses Not applicable Regulations Section 1.6038B-1T(c)(6): Application of Section 367(a)(5) Not applicable
    Attachment to Form 926, Part III Line 11   The following is additional information as requested by Regulations Section 1.6038B-1(c) and Temporary Regulations Sections 1.6038B-1T(c)(1) through 1.6038B-1T(c)(5) and 1.6038B-1T(d). Regulations Section 1.6038B-1T(c)(1): Transferor Cummings Foundation, Inc. EIN: 04-3073023 200 West Cummings Park Woburn, MA 01801 Regulations Section 1.6038B-1T(c)(2): Transfer (i): Keywise Greater China Find Ltd. EIN: N/A c/o Ogier Fiduciary Services (Cayman) Limited, 89 Nexus Way, Camana Bay Grand Cayman KY-9007, Cayman Islands (ii): Transfer of security/asset in the amount of $359,889 in consideration of ordinary shares. Regulations Section 1.6038B-1T(c)(3): Consideration Received Ordinary Shares Regulations Section 1.6038B-1T(c)(4): Property Transferred Security/asset in the amount of $359,889 Regulations Section 1.6038B-1T(c)(5): Transfer of foreign branch with previously deducted losses Not applicable Regulations Section 1.6038B-1T(c)(6): Application of Section 367(a)(5) Not applicable
    Attachment to Form 926, Part III Line 11   The following is additional information as requested by Regulations Section 1.6038B-1(c) and Temporary Regulations Sections 1.6038B-1T(c)(1) through 1.6038B-1T(c)(5) and 1.6038B-1T(d). Regulations Section 1.6038B-1T(c)(1): Transferor Cummings Foundation, Inc. EIN: 04-3073023 200 West Cummings Park Woburn, MA 01801 Regulations Section 1.6038B-1T(c)(2): Transfer (i): Lansdowne UK Equity Fund Ltd EIN: N/A P.O. Box 309, George Town Cayman Islands (ii): Transfer of security/asset in the amount of $245,309 in consideration of ordinary shares. Regulations Section 1.6038B-1T(c)(3): Consideration Received Ordinary Shares Regulations Section 1.6038B-1T(c)(4): Property Transferred Security/asset in the amount of $245,309 Regulations Section 1.6038B-1T(c)(5): Transfer of foreign branch with previously deducted losses Not applicable Regulations Section 1.6038B-1T(c)(6): Application of Section 367(a)(5) Not applicable
    Attachment to Form 926, Part III Line 11   The following is additional information as requested by Regulations Section 1.6038B-1(c) and Temporary Regulations Sections 1.6038B-1T(c)(1) through 1.6038B-1T(c)(5) and 1.6038B-1T(d). Regulations Section 1.6038B-1T(c)(1): Transferor Cummings Foundation, Inc. EIN: 04-3073023 200 West Cummings Park Woburn, MA 01801 Regulations Section 1.6038B-1T(c)(2): Transfer (i): Pennant Windward Fund, Ltd EIN: N/A Hemisphere House, 9 Church Street Hamilton, HM11, Bermuda (ii): Transfer of security/asset in the amount of $350,442 in consideration of ordinary shares. Regulations Section 1.6038B-1T(c)(3): Consideration Received Ordinary Shares Regulations Section 1.6038B-1T(c)(4): Property Transferred Security/asset in the amount of $350,442 Regulations Section 1.6038B-1T(c)(5): Transfer of foreign branch with previously deducted losses Not applicable Regulations Section 1.6038B-1T(c)(6): Application of Section 367(a)(5) Not applicable
    Attachment to Form 926, Part III Line 11   The following is additional information as requested by Regulations Section 1.6038B-1(c) and Temporary Regulations Sections 1.6038B-1T(c)(1) through 1.6038B-1T(c)(5) and 1.6038B-1T(d). Regulations Section 1.6038B-1T(c)(1): Transferor Cummings Foundation, Inc. EIN: 04-3073023 200 West Cummings Park Woburn, MA 01801 Regulations Section 1.6038B-1T(c)(2): Transfer (i): Treeline Asia Fund EIN: N/A c/o Campbell Corporate Services Ltd. Scotia Centre, P.O. Box 268GT Grand Cayman, Cayman Islands (ii): Transfer of security/asset in the amount of $232,685 in consideration of ordinary shares. Regulations Section 1.6038B-1T(c)(3): Consideration Received Ordinary Shares Regulations Section 1.6038B-1T(c)(4): Property Transferred Security/asset in the amount of $232,685 Regulations Section 1.6038B-1T(c)(5): Transfer of foreign branch with previously deducted losses Not applicable Regulations Section 1.6038B-1T(c)(6): Application of Section 367(a)(5) Not applicable
    Attachment to Form 926, Part III Line 11   The following is additional information as requested by Regulations Section 1.6038B-1(c) and Temporary Regulations Sections 1.6038B-1T(c)(1) through 1.6038B-1T(c)(5) and 1.6038B-1T(d). Regulations Section 1.6038B-1T(c)(1): Transferor Cummings Foundation, Inc. EIN: 04-3073023 200 West Cummings Park Woburn, MA 01801 Regulations Section 1.6038B-1T(c)(2): Transfer (i): CGDI Cayman Master Fund Ltd EIN: 75-3251083 CGDI Cayman Master Fund Ltd Walker House, 87 Mary St Georgetown, CJ KY1-9002 (ii): Transfer of security/asset in the amount of $11,57,291 in consideration of ordinary shares. Regulations Section 1.6038B-1T(c)(3): Consideration Received Ordinary Shares Regulations Section 1.6038B-1T(c)(4): Property Transferred Security/asset in the amount of $11,57,291 Regulations Section 1.6038B-1T(c)(5): Transfer of foreign branch with previously deducted losses Not applicable Regulations Section 1.6038B-1T(c)(6): Application of Section 367(a)(5) Not applicable

    TY 2010 InvestmentsCorpStockSchedule
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ALCATEL LUCENT 508,605 180,727
    ALLIANZ SE SPD ADR 94,628 108,374
    ALUMINA LTD SP AD 216,587 105,495
    ALUMINA LTD SP ADR 28,331 50,819
    ANGLOGOLD ASHANTI 213,737 318,223
    ASTRAZENECA PLC SPND ADR 214,037 212,289
    AXIS CAPITAL HOLDINGS 142,929 173,085
    BARRICK GOLD CORPO 278,440 425,600
    CAMECO CORP COM 210,614 333,337
    CARREFOUR SA 285,398 271,604
    DAI NIPPON PRTG 242,043 258,149
    DAIWA HOUSE 164,571 203,879
    ELECTRBRS CNTRAIS ADRPFD 104,810 159,386
    ELECTROBRAS CENTRAIS ADR 34,873 36,121
    ELECTRICITE DE FRANCE 195,633 171,652
    EMBRAER S A SPONSRD ADR 111,359 154,938
    FINMECCANICA SPA SHS 237,175 234,356
    FUJIFILM HLDGS CORP 246,837 257,793
    GLAXOSMITHKLINE PLC ADR 243,879 244,733
    GOLD FIELDS SP 224,709 297,676
    HACHIJUNI BANK LTD ADR 109,218 101,970
    IMPALA PLATINUM SP 90,471 142,480
    KAO CORP SPD ADR 265,451 336,044
    KINROSS GOLD CORP 289,715 310,167
    KOREA ELEC POWER S 224,204 148,245
    KOREA ELEC POWER SPN ADR 10,191 10,133
    MAGNA INTL INC CL A VTG 39,984 65,572
    MS&AD INS GROUP HLDGS 302,236 256,453
    NEWCREST MNG LTD SPN ADR 156,614 265,977
    NEXEN 91,419 68,631
    NEXEN INC CANADA 226,782 254,236
    NINTENDO LTD ADR 186,230 203,230
    NIPPON TELG&TEL SP 400,266 422,325
    NOKIA CORP SPON ADR 253,391 219,414
    OAO GAZPROM SPON ADR 124,302 148,748
    PANASONIC CORP SHS 204,560 183,074
    ROHM CO LTD SHS 161,613 186,453
    ROYAL DUTCH SHEL P 320,637 335,950
    SANOFI AVENTIS SPON ADR 306,604 283,688
    SEKISUI HSE LD SPO 140,580 127,111
    SEKISUI HSE LD SPONS ADR 52,820 58,774
    SEVEN AND I HOLDINGS CO 301,208 327,638
    SHISEIDO LTD SPONS 202,600 232,418
    SIEMENS AG ADR 181,673 288,384
    SK TELECOM ADR 349,856 377,444
    SOCIETE GENERAL SPN ADR 85,793 110,983
    STATOIL ASA SHS 126,678 139,292
    SUMITOMO TR & BKG SPDADR 156,929 166,228
    SUNCOR ENERGY INC NEW 207,545 274,310
    SWISSCOM AG 222,476 268,132
    TAKEDA PHARMACEUTICAL 50,988 57,076
    TELECOM ITALIA SPA 593,626 370,997
    TOYOTA MOTOR CORP ADR 183,674 203,809
    UBS AG 208,296 129,569
    UBS AG REG 26,416 32,380
    VODAFONE GRP PLC 225,637 293,008
    WACOAL HOLDINGS CO 217,695 263,139
    WOLTERS KLUWR NV SPN ADR 196,536 252,440
    ADTRAN INC 266,258 447,628
    AGCO CORP COM 210,856 359,686
    AIR METHODS CRP COM 237,456 434,798
    ALBEMARLE CORP COM 259,205 365,415
    ALLIANCE DATA SYS CORP 198,855 320,487
    AMERIGROUP CORP COM 245,632 446,052
    ANIXTER INTL INC 271,334 293,334
    ARCH COAL INC 236,994 367,008
    ASPEN INSURANCE HL 263,940 318,884
    ATHEROS COMMUNICATIONS 191,981 224,033
    BANK OF THE OZARKS INC 272,475 469,871
    BARRETT BILL CORP 307,890 358,407
    BIG LOTS INC COM 148,302 201,402
    BIO REFERNCE LABS0.01 NEW 270,924 270,773
    BOK FINCL CORP NEW 211,452 222,304
    BRIDGEPOINT EDUCATN INC 266,551 274,607
    BRIGHAM EXPL INC COM 138,729 177,687
    BRUKER CORP 276,136 312,429
    CAPSTEAD MORTGAGE CP NEW 289,164 276,640
    CAVIUM NETWORKS INC 254,224 626,204
    CHEESECAKE FACTORY INC 204,055 379,540
    CHICAGO BRDG & IRON CO NV 170,910 449,447
    CHIMERA INVESTMENT CORP 246,200 359,033
    CHURCH&DWIGHT CO INC 464,960 562,444
    CIENA CORP 239,587 373,469
    CLEAN HARBORS INC 279,887 434,189
    COMMVAULT SYS INC 204,026 387,772
    CONCHO RESOURCES INC 147,638 532,069
    CORE LAB N.V. 64,887 190,923
    CORPORATE EXEC BOARD CO 322,556 517,477
    CREXUS INVT CORP 241,393 222,635
    DIGITAL RIVER INC DEL 273,865 268,683
    EATON VANCE CORP N 416,340 477,029
    EMERGENCY MEDICAL SVS-A 153,854 188,015
    FLIR SYSTEMS INC 335,364 335,729
    FTI CONSULTING INC COM 254,680 232,888
    GSI COMMERCE INC 209,496 309,911
    HEARTLAND EXPRESS INC 294,350 301,336
    HECLA MINING CO DEL 388,539 718,827
    HITTITE MICROWAVE CORP 241,956 243,977
    IDEX CORP DELAWARE 206,787 269,928
    IDEX CORP DELAWARE COM 130,412 187,228
    INFORMATICA CORP CA 206,342 457,736
    INTREPID POTASH INC 248,018 322,633
    JANUS CAPITAL GROUP INC 318,238 435,857
    KANSAS CITY SOUTHERN 216,513 333,393
    MAIDENFORM BRANDS INC 377,622 390,375
    MFA MTG INVTS INC 133,879 181,968
    MFA FINANCIAL INC 203,281 242,042
    MID AMERICA APT CMNTYS 278,510 287,546
    MOBILE MINI INC 279,424 318,998
    MOOG INC CL A 270,292 304,072
    MWI VETERINARY SUPPLY IN 383,096 625,185
    NETGEAR INC 252,454 384,356
    NTELOS HLDGS 366,765 393,611
    PENTAIR INC 297,995 329,393
    PERRIGO CO 268,715 422,728
    PHILLIPS VAN HEUSEN 261,332 483,476
    POWER INTEGRATIONS 358,691 521,437
    PROTECTIVE LIFE CORP COM 346,153 534,505
    QUICKSILVER RES INC 216,784 218,476
    RBC BEARINGS INC 242,337 380,991
    RUDDICK CORP 391,119 555,547
    SAVVIS INC 136,158 349,471
    SBA COMMUNICATIONS 445,677 824,122
    STANCORP FINANCL G 542,238 577,792
    TEXAS ROADHOUSE INC-CL A 250,606 374,564
    TREEHOUSE FOODS INC COM 294,563 489,647
    TW TELECOM INC 191,936 315,186
    UNITED NAT FOODS I 238,947 473,832
    UNIVERSAL HEALTH SVCS B 254,613 489,257
    URS CORP NEW COM 254,080 268,717
    UTI WORLDWIDE INC COM 403,391 517,619
    VALEANT PHARMACEUTICALS 269,456 308,361
    W R BERKLEY CORP 263,793 269,501
    WARNACO 189,752 336,863
    WARNACO GROUP INC CLA 22,137 38,549
    WASTE CONNECTIONS 291,013 464,844
    WHITE MTNS INS GRP LTD 317,154 376,879
    WHITING PETROLEUM CORP 271,338 329,890
    WILEY JOHN & SONS CL A 409,954 478,232
    WMS INDS INC COM 299,845 327,628
    WRIGHT EXPRESS CORP 321,233 400,154
    AGRIUM INC 184,576 292,774
    ASAHI GLASS JAPAN ADR 132,062 151,485
    ASTRAZENECA 356,083 368,596
    AUST NW Z B G ADR 188,427 277,782
    AXIS CAPITAL HOLDINGS 208,135 281,120
    BAE SYS PLC SPN ADR 263,942 245,405
    BANCO BRADESCO S A ADR 239,008 261,579
    BARCLAYS PLC ADR 129,983 116,334
    BRITISH AMN TOBACO 272,559 293,318
    COCA COLA 168,495 296,830
    COMPANHIA D SNMNTO BSCO 518,721 637,997
    COMPASS GROUP PLC ADR 190,950 307,560
    COPA HOLDINGS S A CL A 114,926 129,448
    COPEL PARANA ADR 263,752 414,449
    COVIDIEN PLC SHS 202,072 249,760
    DELHAIZE GROUP SPONS 384,901 374,447
    DIAGEO PLC SPSD ADR 269,241 295,090
    FRANCE TELECOM ADR 451,764 372,863
    FRONTLINE LTD 111,018 89,861
    FUJI HEAVY INDS LTD ADR 114,857 163,410
    FUJITSU LTD NEW ADR 119,825 137,629
    GLAXOSMITHKLINE PLC 386,648 359,294
    HUANENG PWR INTL SP ADR 127,016 117,718
    MARKS & SPENCER GP ADR 127,463 121,038
    MITSUI CO ADR 259,546 271,024
    NEXEN INC CANADA COM 189,038 260,488
    NIPPON YUSEN KABUSHIKI 127,576 125,093
    NITTO DENKO CORP ADR 264,129 317,641
    NOKIA CORP SPON ADR 206,095 120,176
    PEARSON SPONSORED ADR 190,136 249,807
    PETRLEO BRAS VTG S 76,054 72,464
    PETRLEO BRAS VTG SPD ADR 130,181 161,955
    POSCO SPN ADR 172,559 233,903
    RENAISSANCERE HLDGS LTD 347,540 412,074
    RIO TINTO PLC SPNSRD ADR 113,826 158,942
    ROYAL DUTCH SHELL PLC 368,252 400,613
    SAGE GROUP PLC UNSP ADR 114,955 131,519
    SASOL LTD 419,106 473,655
    SIEMENS AG ADR 219,080 316,216
    SK TELECOM ADR 295,375 254,300
    STATOILHYDRO ASA 370,613 352,866
    STATOIL ASA SHS 29,021 29,713
    SVENSKA C AKTI SPONS ADR 221,725 314,628
    TAIWAN S MANUFCTRING ADR 129,343 144,599
    TELSTRA CORP ADR 273,194 251,699
    TEVA PHARMACTCL INDS ADR 117,757 128,709
    TORONTO DOMINION BANK 159,451 295,011
    TRANSCANADA CORP 102,930 125,836
    TURKCELL ILETISM ADR 92,819 115,456
    UNILEVER PLC NEW 279,323 259,392
    UNTD OVERSEAS BK SPN ADR 251,195 258,076
    WOORI FIN HLDGS CO S ADR 122,524 135,204
    YAMANA GOLD INC 214,184 257,600
    YANZHOU COAL MNG SPD ADR 115,955 165,301
    ZURICH FINL SVCS SPN ADR 352,064 433,399
    AFLAC INC COM 4,294,845 5,643,000
    ALLERGAN INC 3,675,911 4,120,200
    APPLE INC 3,013,438 3,225,600
    AT&T INC 3,041,189 3,525,600
    AUTOMATIC DATA PROC 3,665,984 4,628,000
    BAC CLIRN GLOBAL EQTY BS 4,975,000 5,470,000
    BANK OF AMERICA CORP 3,676,079 1,773,340
    BANK OF AMERICA MERGER MBNA CO 1,726,032 494,460
    BECTON DICKINSON & CO 2,631,966 3,380,800
    BLACKROCK INC 391,200 457,392
    CATERPILLAR INC DEL 2,248,130 2,809,800
    CISCO SYSTEMS 2,502,574 2,629,900
    COCA COLA COM 2,468,165 3,288,500
    COMCAST CORP 3,544,640 3,295,500
    COMCAST CORP NEW CL A 1,646,405 2,197,000
    DANAHER 3,366,958 5,660,400
    EKSPORT STARS EWZ 3,000,000 3,225,000
    EXXON MOBIL CORP COM 5,469,269 6,215,200
    GENERAL ELECTRIC 5,905,087 3,292,200
    GENERAL MILLS 3,786,970 4,982,600
    GOLDMAN SACHS GP INC. 1,611,300 2,522,400
    GOOGLE INC 4,637,290 5,939,700
    HESS CORP 2,277,337 3,061,600
    HEWLETT PACKARD CO DEL 4,654,275 4,210,000
    HUMANA INC 4,505,071 5,474,000
    KRAFT FOODS INC VA CL A 2,272,685 3,151,000
    MARATHON OIL CORP. 1,963,855 2,592,100
    MCDONALDS CORP CON 3,864,215 5,373,200
    MERCK AND CO INC SHS 3,326,848 2,703,000
    MICROSOFT 4,070,592 4,437,690
    ORACLE CORP $0.01 DEL 3,988,565 5,008,000
    PEPSICO 4,117,050 5,585,715
    PFIZER INC DEL PV$0.05 3,186,965 3,502,000
    PRAXAIR INC 3,164,097 3,818,800
    PROCTER&GAMBLE CO 2,857,153 3,216,500
    SALESFORCE COM INC 1,187,259 3,960,000
    SCHLUMBERGER LTD 3,270,500 4,175,000
    SPECTRA ENERGY 724,929 749,700
    THERMO/FISHER SCIENTIFIC 2,257,345 3,321,600
    UNION PACIFIC CORP 6,061,725 9,266,000
    UNITED TECHS CORP COM 3,825,713 5,904,000
    VERIZON 4,983,670 5,367,000
    WALGREEN CO 3,545,760 4,012,880
    WAL-MART STORES INC. 4,031,185 4,314,400
    WASTE MANAGEMENT INC. 4,100,375 4,424,400
    ZIMMER HOLDINGS INC COM 2,022,957 2,147,200
    AMERICA MOVIL SAB DE CV 182,902 234,578
    ARM HLDGS PLC SPD ADR 53,462 163,946
    ASSA ABLOY AB ADR 199,890 207,448
    BG GROUP PLC SP 208,392 186,048
    BG GROUP PLC SPON ADR 66,213 76,908
    BNP PARIBAS SPONSORD ADR 344,776 292,790
    BRITISH SKY BDCT SPD ADR 141,238 210,744
    CANADIAN NATL RAIL 185,432 252,985
    CANADIAN NATL RAILWAY CO 39,817 55,237
    CANADIAN NATURAL RES LTD 173,375 215,926
    CANON INC ADR REP5SH 200,691 268,406
    CARNIVAL CORP PAIRED SHS 309,940 423,566
    CHINA MERCHANTS-UNSPON 202,453 228,943
    CNOOC LTD ADR 185,761 306,544
    COCA COLA HELLENIC S ADS 120,279 129,034
    DASSAULT SYS SA SPN ADR 131,175 178,368
    EMBRAER S A SPONSRD ADR 171,780 218,442
    FANUC LTD-UNSP 159,876 277,912
    FLSMIDTH AND CO A/S ADR 103,223 167,827
    FRESENIUS MEDICAL CARE 255,635 297,565
    HANG LUNG PROPERTIES ADR 138,324 183,737
    HENNES AND MAURITZ AB- 285,579 325,475
    HONG KONG EXCHANGES AND 187,988 226,124
    INDUSTRL AND COMMRCL BNK 189,953 194,999
    INFOSYS TECH LTD ADR 84,630 151,475
    ITAU UNIBANCO BANCO HOLD 141,934 182,308
    KINGFISHER PLC SP ADR 251,584 291,540
    KOMATSU NEW SPNSDADR 226,780 347,541
    LAFARGE ADR NEW 241,056 224,123
    LOGITECH INTERNATIONAL 246,790 245,083
    LULULEMON ATHLETICA INC 63,420 101,262
    LVMH MOET HENNESSY ADR 237,818 385,767
    MAN GROUP PLC - UNSPON 149,911 191,971
    MITSUBISHI UFJ FINL GRP 217,158 204,022
    NESTLE S A REP RG SH ADR 188,324 300,276
    NEW ORIENTAL EDUCATIO 134,393 170,894
    NOVARTIS ADR 296,103 354,761
    NOVO NORDISK A S ADR 186,216 346,265
    OAO GAZPROM SPON ADR 169,108 176,172
    POTASH CORP SASKATCHEWAN 115,881 194,776
    PUBLICIS GROUPE SPON ADR 180,018 212,189
    RECKITT BENCKISER GR ADR 292,974 339,786
    SABMILLER PLC SPON DR 132,329 190,353
    SAP AKGSLTT SPONSORD ADR 357,377 425,630
    SCHLUMBERGER LTD 256,590 348,696
    SMITH-NPHW PLC SPADR NEW 166,897 193,542
    SOUTHERN COPPER CORP 92,838 150,655
    TELEFONICA SA SPAIN ADR 246,055 275,185
    TENCENT HOLDINGS LTD ADR 135,362 146,010
    TESCO PLC SPNRD ADR 334,251 342,535
    TEVA PHARMACTCL INDS 298,338 332,850
    TEVA PHARMACTCL INDS ADR 67,325 72,669
    TOYOTA MOTOR CORP ADR 311,077 298,086
    TURKIYE GRTI BK SPN ADR 220,142 252,644
    VESTAS WIND SYTS AS ADR 284,865 127,192
    VOLKSWAGEN A G ADR 121,728 183,587
    WAL-MART DE MEX SPNADR V 170,313 268,080
    AARON'S INC SHS A 161,065 152,803
    ACUITY BRANDS INC 124,362 171,107
    AFFILIATED MANAGERS GRP 256,559 424,166
    AMETEK INC NEW 109,199 190,677
    ANSYS INC COM 153,565 243,896
    APTARGROUP INC 129,365 187,093
    BIO RAD LABS CL A 156,108 218,708
    BLACKBAUD INC 137,597 209,764
    BORG WARNER INC COM 114,459 212,232
    CARLISLE COS INC 129,004 150,138
    CARMAX INC 53,190 138,391
    CHURCH & DWIGHT CO INC 104,838 142,181
    CITY NATIONAL CORP 98,257 164,322
    COLUMBIA SPORTSWEAR CO 64,920 99,254
    CONSTELLATION BRANDS INC 162,023 199,882
    COPART INC 91,348 99,725
    CULLEN FRST BKRS PV$0.01 95,576 97,975
    DENTSPLY INTL INC 253,517 287,848
    DRIL QUIP 95,253 114,948
    EQUIFAX INC 160,559 173,977
    FACTSET RESH SYS INC 89,941 158,267
    FAIR ISAAC CORPORATION 132,984 166,114
    FLIR SYSTEMS INC 149,800 184,539
    FOREST CITY ENTRPRS CLA 155,394 353,661
    GRACO INC 87,426 150,147
    GREENHILL COMPANY INC 125,504 141,388
    HCC INS HOLDING INC 220,712 247,437
    HUNT JB TRANS SVCS INC 150,206 153,568
    IDEX CORP DELAWARE COM 144,533 229,165
    IHS INC 78,968 125,087
    JACK HENRY & ASSOC INC 92,709 142,485
    JACOBS ENGN GRP INC DELA 204,088 216,229
    KIRBY CORP COM 175,915 224,082
    LKQ CORP 165,830 231,040
    MARKEL CORP COM 318,220 425,396
    METTLER-TOLEDO INTL INC 93,993 184,779
    MORNINGSTAR INC 284,500 346,665
    O'REILLY AUTOMOTIVE INC 205,012 319,018
    OCEANEERING INTL INC 102,343 149,101
    ROFIN SINAR TECH INC 81,283 118,122
    SALLY BEAUTY HLDGS INC 91,235 163,172
    SCHEIN (HENRY) INC COM 204,035 270,853
    SEI INVT CO PA PV $0.01 126,341 183,326
    STERICYCLE INC COM 71,982 105,196
    ULTA SALON COSMETICS & 84,048 127,058
    UMPQUA HLDGS CORP ORE 155,483 146,416
    UNIVERSAL HEALTH SVCS B 65,835 89,011
    VALMONT INDUSTRIES 57,432 60,425
    VARIAN MEDICAL SYS INC 80,986 151,377
    WILEY JOHN & SONS CL A 184,529 240,632
    AGNICO EAGLE MINES LTD 46,913 43,719
    ALBEMARLE CORP COM 163,464 193,278
    ALLEGHENY TECH INC 195,230 255,814
    APACHE CORP 45,992 46,977
    APPLE INC 218,547 316,109
    ASSURED GUARANTY LTD 143,801 118,909
    BARRICK GOLD CORPORATION 56,596 58,445
    BORG WARNER INC COM 127,730 221,205
    BRISTOL-MYERS SQUIBB CO 145,993 150,989
    CLEAN HARBORS INC 138,514 181,192
    COGNIZANT TECH SOLUTNS A 146,868 279,821
    COMPASS MINERALS INTL 134,608 182,914
    CROWN HLDGS INC 94,489 125,309
    DISCOVERY COMMUNICATN 91,649 141,280
    DISNEY (WALT) CO COM STK 123,596 139,350
    DOW CHEMICAL CO 139,659 173,875
    DR REDDY'S LAB LTD ADR 64,865 112,506
    DREAMWORKS ANIMATION INC 68,105 49,274
    EBAY INC COM 104,370 108,036
    EXPEDITORS INTL WASH INC 122,353 153,317
    FMC TECHS INC COM 144,076 210,539
    FRAC KINDER MORGAN MGMT 5  
    GIVAUDAN SA UNSP ADR 106,087 150,385
    GLOBAL PMTS INC GEORGIA 46,917 46,903
    GREENHILL COMPANY INC 105,174 101,937
    GRUPO FIN GALICIA SP ADR 46,116 43,741
    HAIN CELESTIAL GROUP INC 38,036 45,975
    HASBRO INC 152,233 228,021
    ICIC BANK LTD SPD ADR 83,609 81,480
    ISRAEL CHEMICALS-UNSPON 94,990 96,407
    ITC HLDGS CORP 77,409 78,653
    JOHNSON CONTROLS INC 147,660 187,180
    KRAFT FOODS INC VA CL A 90,341 96,295
    LAS VEGAS SANDS CORP 81,814 80,229
    MBIA INC COM 24,248 22,301
    MCDONALDS CORP COM 131,139 137,477
    MGM RESORTS INTERNATIONAL 94,670 98,619
    MICROCHIP TECHNOLOGY INC 133,357 165,679
    MONSTER WORLDWIDE INC 133,592 180,675
    NALCO HLDG CO 128,045 165,321
    NAT FUEL GAS CO NJ $1 163,759 232,360
    NEWMONT MINING CORP 57,416 56,454
    NEXTERA ENERGY INC SHS 78,654 74,398
    NOVO NORDISK A S ADR 121,978 166,604
    NOVOZYMES A/S ADR 97,400 110,938
    NYSE EURONEXT 24,472 23,474
    OCCIDENTAL PETE CORP CAL 105,759 122,036
    PEABODY ENERGY CORP COM 237,213 291,877
    PERRIGO CO 70,251 135,780
    PHILIP MORRIS INTL INC 132,269 149,486
    PHILLIPS VAN HEUSEN 151,041 161,495
    PLEXUS CORP COM 46,263 52,505
    ROBERTHALF INTL INC COM 97,789 111,537
    ROPER INDUSTRIES INC COM 82,826 120,836
    SLM CORP 91,935 90,081
    SOTHEBY'S (DELAWARE) 76,534 138,555
    STERICYCLE INC COM 53,458 80,111
    TATA MOTORS LTD ADR 112,519 146,524
    TENARIS S A ADR 133,623 141,944
    TRANSDIGM GROUP INC 82,945 121,121
    TREEHOUSE FOODS INC COM 43,109 43,682
    TYCO INTL LTD NAMEN-AKT 87,197 105,548
    UNITED CONTL HLDGS INC 138,548 151,352
    VERISK ANALYTICS INC 60,458 67,444
    WADDELL & REED FINL A 46,696 45,842
    WASTE MANAGEMENT INC NEW 131,945 151,499
    WEBMD HEALTH CORP 87,245 134,441
    WYNN MACAU LTD SHS 72,770 86,486
    WYNN RESORTS LTD 116,546 133,538
    ACERGY S A SPON ADR 209,588 285,597
    AERCAP HOLDINGS N.V. SHS 194,457 228,038
    ALLIED WORLD ASSURANCE 183,633 237,998
    AMERICA MOVIL SAB DE CV 189,164 224,257
    ASTRAZENECA PLC SPND ADR 177,726 179,818
    AUTOLIV INC 221,262 242,030
    BAE SYS PLC SPN ADR 209,583 201,974
    BANCOLOMBIA S.A SPDS ADR 160,087 215,013
    BANCO SANTNDER BRZL SA 193,338 203,728
    BANCO SANTANDER CHIL ADR 170,149 240,592
    BASF SE SPONSORED ADR 170,855 232,099
    CELESTICA SUB VTG SHS 200,609 201,023
    CGI GROUP INC 186,728 207,707
    CHECK POINT SOFTWRE TECH 197,957 276,681
    CHICAGO BRDG & IRON CO NV 135,741 222,865
    CHINA MOBILE LTD SPN ADR 177,477 187,167
    CHINA PETE CHEM SPN ADR 221,890 225,733
    CNOOC LTD ADR 183,051 272,695
    COMP DE BEBIDAS SPN ADR 159,588 242,655
    COPEL PARANA ADR PREF B 200,404 221,723
    DBS GROUP HLDGS SPN ADR 181,622 204,207
    DELHAIZE GROUP SPONS ADR 193,771 180,663
    DOMTAR CORP SHS 219,582 238,541
    ENDURANCE SPECIALTY HLDG 183,427 226,710
    ENERSIS S A SPON ADR 199,686 195,373
    ENI S P A SPONSORED ADR 219,786 210,477
    FLEXTRONICS INTL LTD 215,586 233,506
    FOMENTO ECNMCO MEX SPADR 194,768 231,844
    HERBALIFE LTD 169,366 271,634
    HOME INNS & HOTEL MGMT 198,355 183,992
    INTERCONTINENTAL HOTELS 190,516 237,293
    KOMATSU NEW SPNSD ADR 221,114 228,921
    KONINKL PHIL E NY SH NEW 167,878 180,547
    MARVELL TECHNOLOGY GROUP 212,970 189,915
    MILLICOM INTL CELLULAR 189,601 211,850
    NESTLE SA REP RG SH ADR 185,391 226,045
    NIPPON TELG&TEL SPDN ADR 183,071 206,850
    NISSAN MTR LTD SPN ADR 226,222 222,097
    PARTNER COMMUNICTNS ADR 211,876 217,505
    PATNI COMPUTER SYS ADR 196,558 155,270
    RESEARCH IN MOTION LTD 203,653 184,040
    RIO TINTO PLC SPNSRD ADR 213,530 291,943
    SIEMENS AG 196,251 244,027
    SIGNET JEWELERS LTD SHS 149,514 231,713
    STATOIL ASA SHS 218,537 219,563
    TELENOR ASA ADR 184,620 217,294
    TIM PARTICIPACOES S A AD 223,045 228,875
    TRINA SOLAR LTD ADR 222,427 196,283
    VALEO SPONSORED ADR 220,371 212,322
    VIVO PARTICIPACOES SA SP 223,136 221,123
    VOLKSWAGEN A G SPONS ADR 220,986 226,744
    YANZHOU COAL MNG SPD ADR 178,403 291,710
    PREFERRED    
    AMBAC FIN GROUP 250,000 15,313
    ANNALY MTG MGMT INC. 500,000 510,000
    BANK OF AMERICA 6% - BAC V 500,000 433,800
    BANK OF AMERICA 6% - BAC VIII 1,000,000 862,800
    BANK OF AMERICA 7% - BAC'X 110,000 107,008
    BANK OF AMERICA CORP 250,000 247,900
    BCF CAPITAL TRUST II 1,000,000 1,080,000
    BK AMER CAP 7% - BAC'W 259,200 243,200
    BNY CAPITAL V 250,000 249,600
    CITIGROUP CAP IX 6% 300,000 267,600
    CITIGROUP CAP X 6.1% 750,000 666,300
    CITIGROUP CAP XI 6% 1,000,000 965,600
    CORP BK TR 5.8% PFD 239,504 231,700
    CORP BK TRST 7% PFD 121,504 123,250
    COUNTRYWIDE CAPITAL IV 275,000 260,700
    COUSINS PROPERTIES CO 375,000 372,000
    DUKE REALTY CORP 375,000 338,550
    FINL SECURITY ASSUR HLGS 250,000 198,800
    FLEET CAPITAL TRUST 150,000 148,200
    FORD MOTOR 375,004 389,700
    GECC 6.1% PINES - GEC 250,000 252,300
    GECC STEP UP PINES - GEP 1,000,000 1,013,600
    GENERAL ELECT CAP CORP -6.625% 250,000 254,800
    GMAC 7.375% - GOM 1,000,000 932,000
    GOLDMAN SACHS GRP 6.2% 1,000,000 966,000
    HSBC FINANCE CORP 6% 250,000 239,900
    HSBC FINANCE CORP 6.2% 1,000,000 916,000
    HSBC FINANCE CORP 6.36% 1,000,000 913,600
    HSBC FINANCE CORP 6.875% 187,500 190,350
    ING GROUP N V PERP 6.2% 675,000 581,700
    ING GROUP N V PERP 7.2% 250,000 231,700
    JP MORGAN CAP XVI 6.35% 250,000 251,100
    JP MORGAN CHASE CAP XI 5.875% 250,000 243,500
    KILROY REALTY CORP. 375,000 377,700
    LEHMAN HLDG CAP TT 6.375% 250,000 400
    MBNA CAPITAL D 8.125% 82,204 75,900
    MORGAN STANLEY CAP IV 6.25% 500,000 456,000
    MORGANSTANLEY TRV 5.75% 500,000 437,400
    MORGANSTANLEY 6.6% TR PFD CAP 1,000,000 948,000
    NPB CAPITAL TRUST 40,000 40,160
    RBS CAP FDG TR VI 250,000 129,500
    SLM CORP 6% PFD 500,000 406,800
    USB 5.75% CAPITAL TR VI 1,000,000 992,400
    USB CAPITAL VII 5.875% 1,000,000 986,800
    VORNADO REALTY TR 6.625% 375,000 354,600
    MUTUAL FUNDS    
    MANAGERS CADENCE MIDCAP 938,241 954,066
    MANAGERS CADENCE CAPITAL 974,550 767,708
    OPPENHEIMER DEVELOPING MKTS 5,000,000 6,626,052
    OPPENHEIMER DEVELOPING 9,270,001 10,703,013
    SECTOR SPDR TR SBI ENERGY 1,403,404 2,047,500
    STANDARD & POORS 4,382,870 5,526,713
    STANDARD&POORS TRANSFER FROM W 9,403,870 9,871,375
    PROSHARES ULTRASHORT -RUSSELL 26,499 23,638
    PROSHARES ULTRASHORT S&P 25,402 23,190
    PROSHARES ULTRASHORT QQQ 24,621 23,439

    TY 2010 InvestmentsOtherSchedule2
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    60 AUDUBON   5,200,000 5,200,000
    50 CONCORD 99%   7,821,000 7,821,000
    38 MONTVALE 99%   4,059,000 4,059,000
    41 MONTVALE 99%   3,366,000 3,366,000
    92 MONTVALE 99%   16,236,000 16,236,000
    OPERATIONS   7,409,868 7,409,869
    50 CONCORD 1%   79,000 79,000
    38 MONTVALE 1%   41,000 41,000
    41 MONTVALE 1%   34,000 34,000
    92 MONTVALE 1%   164,000 164,000
    175 NEW BOSTON   5,000,000 5,000,000
    165 NEW BOSTON   4,600,000 4,600,000
    155 NEW BOSTON   5,300,000 5,300,000
    BOSTON NORTH (PLACE LANE)   456,200 456,200
    34 AUDUBON   2,900,000 2,900,000
    34 COMMERCE   6,600,000 6,600,000
    142 NORTH ROAD   7,300,000 7,300,000
    18 COMMERCE WAY   10,200,000 10,200,000
    10 COMMERCE WAY   14,100,000 14,100,000
    101 CAMBRIDGE ST.   3,300,000 3,300,000
    340 FORDHAM ROAD   2,600,000 2,600,000
    260 FORDHAM ROAD   5,600,000 5,600,000
    200 BOSTON AVE.   33,700,000 33,700,000
    196 BOSTON AVE   4,100,000 4,100,000
    1 MERRILL STREET   940,000 940,000
    475 WILDWOOD AVE   2,600,000 2,600,000
    10 ROESSLER ROAD   6,300,000 6,300,000
    25 OLYMPIA AVE   5,800,000 5,800,000
    21 OLYMPIA AVE   4,200,000 4,200,000
    150 NEW BOSTON ST.   4,600,000 4,600,000
    10-22 HENSHAW   2,500,000 2,500,000
    2-8 HENSHAW   6,000,000 6,000,000
    800 WEST CUMMINGS PARK   21,000,000 21,000,000
    500 WEST CUMMINGS PARK   20,600,000 20,600,000
    66 CONCORD ST.   5,300,000 5,300,000
    2- 36 CUMMINGS PARK   12,300,000 12,300,000
    38-72 CUMMINGS PARK   11,300,000 11,300,000
    74-124 CUMMINGS PARK   8,900,000 8,900,000
    TOWER OFFICE PARK   11,900,000 11,900,000
    299 WASHINGTON STREET   2,800,000 2,800,000
    444 WASHINGTON STREET   5,700,000 5,700,000
    200-280 WEST CUMMINGS PARK   16,300,000 16,300,000
    300 WEST CUMMINGS PARK   4,600,000 4,600,000
    400 WEST CUMMINGS PARK   18,900,000 18,900,000
    600 WEST CUMMINGS PARK   17,000,000 17,000,000
    300 R SALEM ST., WOBURN   283,700 283,700
    30 SIXTH ROAD   2,900,000 2,900,000
    1 GILL STREET   2,300,000 2,300,000
    2 GILL STREET   5,000,000 5,000,000
    6 GILL STREET   4,000,000 4,000,000
    4 GILL STREET   3,600,000 3,600,000
    14 GILL STREET   4,100,000 4,100,000
    3 GILL STREET   4,200,000 4,200,000
    12 CABOT ROAD   6,000,000 6,000,000
    78 OLYMPIA AVENUE   6,300,000 6,300,000
    8 CABOT ROAD   8,400,000 8,400,000
    ETFS PHYSICAL PALLADIUM   135,953 178,475
    ETFS PHYSICAL PLATINUM   99,578 105,842
    IQ ABSOLUTE RETURN - DD(N)   4,499,999 4,900,107
    IQ GLOBAL LONG/SHORT - DD(N)   4,500,000 4,755,862
    BLACKROCK HEALTH SCIENCE   2,000,000 2,109,999
    EMERGING MARKETS OPPORTUNITIES   2,500,000 2,530,913
    EMERGING MARKETS OPPORTUNITIES   1,670,000 1,670,000
    EQUITY LONG SHORT HEDGE ACCESS   5,682,823 5,859,105
    EQUITY LONG SHORT HEDGE ACCESS   42,177 41,639
    EVENT DRIVN CREDIT HEDGE D(H)   2,000,000 2,248,485
    EVENT DRIVN CREDIT HEDGE   2,355,000 2,388,725
    GLOBAL MACRO OPPORTUNITIES   2,800,000 2,800,000
    ML SYSTEMATIC MOMENTUM   1,674,055 2,001,276
    PAULSON RECOVERY   2,000,000 2,418,558
    OAK V DISTRESSED   1,375,000 1,304,875
    COMMONFUND   49,760,911 53,488,843

    TY 2010 LandEtcSchedule2
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value


    TY 2010 OtherDecreasesSchedule
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Description Amount
    DECREASE IN FMV OF PROPERTY 2,100,000


    TY 2010 OtherExpensesSchedule
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SUPPLIES 23,497,381   22,147,384 23,497,381
    REPAIR & MAINTENANCE 534,698 2,531 2,531 532,167
    INSURANCE 99,654 536 536 99,118
    TELEPHONE 53,752     53,752
    ADVERTISING 83,826     83,826
    MISCELLANEOUS 97,641     97,641
    CONTRACT SERVICES 2,019,768     2,019,768
    ACTIVITIES & SERVICE 126,043     126,043
    INVESTMENT EXPENSE 693,318 693,318    


    TY 2010 OtherIncomeSchedule2
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER NET INV INC FROM OTHER K-1'S 297,446 297,446 297,446
    OTHER NET INV INC FRM DISREGARDED ENT 38,769,536 38,769,536 38,769,536
    PROGRAM SERVICE REVENUE 15,490,772   15,490,772
    CONTRACT REVENUE 1,829,510   1,829,510
    VETERINARY SCHOOL INCOME 49,297,115   49,297,115
    MISCELLANEOUS INCOME 31,474   31,474


    TY 2010 OtherLiabilitiesSchedule
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Description Beginning of Year - Book Value End of Year - Book Value
    DEPOSITS & PREPAYMENTS 23,407,963 23,122,317


    TY 2010 OtherProfessionalFeesSchedule
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL FEES 6,268     6,268


    TY 2010 TaxesSchedule
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ESTIMATED PAYMENTS FOR 2010 775,000      
    STATE TAX PAYMENT 320      
    FOREIGN TAXES PAID 179,129 179,129    


    TY 2010 TransfersToControlledEntities
    Name:
    Cummings Foundation Inc
    EIN: 04-3073023
    Name US /
    Foreign Address    		 EIN Description Amount
    NHC REALTY INC 200 WEST CUMMINGS PARK
    WOBURN,MA01801     		30-0553218 No transfers were made in 2010 0
    HEM REALTY INC 200 WEST CUMMINGS PARK
    WOBURN,MA01801     		30-0553220 No transfers were made in 2010 0
    Total     0