Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
THE STEPHEN PHILLIPS MEMORIAL
SCHOLARSHIP FUND INC
Number and street (or P.O. box number if mail is not delivered to street address)C/O LWC 230 CONGRESS STREET
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BOSTON, MA02110
A Employer identification number

27-5040651
B Telephone number (see instructions)

(617) 523-6531
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$76,488,832
J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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 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) 259,161
2 Check bullet.............
3 Interest on savings and temporary cash investments 102,195 102,195  
4 Dividends and interest from securities... 862,735 883,120  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 5,888,183
b Gross sales price for all assets on line 6a 14,972,966
7 Capital gain net income (from Part IV, line 2)... 5,895,536
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)....... 0 5,849  
12 Total. Add lines 1 through 11........ 7,112,274 6,886,700  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 385,348 46,920   338,428
14 Other employee salaries and wages...... 246,981 0   246,981
15 Pension plans, employee benefits....... 154,539 0   154,539
16a Legal fees (attach schedule)......... 3,186 1,593   1,593
b Accounting fees (attach schedule)....... 10,520 5,260   5,260
c Other professional fees (attach schedule).... 346,566 261,651   84,915
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... 32,000 0   0
19 Depreciation (attach schedule) and depletion... 19,410 0  
20 Occupancy.............. 9,029 0   9,029
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... 59,007 48,429   59,007
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,266,586 363,853   899,752
25 Contributions, gifts, grants paid....... 3,434,750 3,434,750
26 Total expenses and disbursements. Add lines 24 and 25 4,701,336 363,853   4,334,502
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,410,938
b Net investment income (if negative, enter -0-) 6,522,847
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
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.............      
2 Savings and temporary cash investments......... 2,715,428 2,095,295 2,095,295
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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 instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 892,534 Click to see attachment4,322,879 4,342,409
b Investments—corporate stock (attach schedule)....... 28,034,560 Click to see attachment31,844,995 52,611,707
c Investments—corporate bonds (attach schedule)....... 1,293,469 0 0
11 Investments—land, buildings, and equipment: basis bullet1,964,453
Less: accumulated depreciation (attach schedule) bullet   1,964,453 Click to see attachment1,964,453 13,187,550
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 7,103,317 Click to see attachment3,648,151 3,763,682
14 Land, buildings, and equipment: basis bullet765,785
Less: accumulated depreciation (attach schedule) bullet279,092 495,219 Click to see attachment486,693 486,693
15 Other assets (describe bullet) Click to see attachment5,033 Click to see attachment1,496 Click to see attachment1,496
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 42,504,013 44,363,962 76,488,832
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 143,246 Click to see attachment97,634
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 143,246 97,634
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted............... 42,360,767 44,266,328
Foundations that do not follow SFAS 117, check here 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 instructions)..... 42,360,767 44,266,328
31 Total liabilities and net assets/fund balances (see instructions). 42,504,013 44,363,962
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
42,360,767
2
Enter amount from Part I, line 27a .....................
2
2,410,938
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
20,194
4
Add lines 1, 2, and 3 ..........................
4
44,791,899
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
525,571
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
44,266,328
Form 990-PF (2018)
Form 990-PF (2018)
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 SALE OF PUBLICLY TRADED SECURITIES      
b SALE OF CUTTING TIMBER(NOT TAXABLE UNDER IRC SEC. 4940-SEE FOOTNOTE)      
c FROM HCM VENTURES FUND VI LLC K-1      
d FROM HCM VENTURES FUND VII LLC K-1      
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 14,875,278   9,084,783 5,790,495
b 97,688   97,688 0
c       109,051
d       -4,010
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       5,790,495
b       0
c       109,051
d       -4,010
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 5,895,536
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 instructions). If (loss), enter -0-
in Part I, line 8 ...................
Bracket 3  
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 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))
2017 4,036,384 76,683,793 0.052637
2016 3,964,474 68,164,112 0.058161
2015 3,737,726 69,931,854 0.053448
2014 3,799,146 70,842,298 0.053628
2013 3,604,453 66,076,197 0.054550
2
Total of line 1, column (d) .....................
2
0.272424
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.054485
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
76,717,182
5
Multiply line 4 by line 3......................
5
4,179,936
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
65,228
7
Add lines 5 and 6........................
7
4,245,164
8
Enter qualifying distributions from Part XII, line 4,.............
8
4,345,386
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.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 65,228
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 0
3 Add lines 1 and 2........................... 3 65,228
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 65,228
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 65,274
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 100,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 165,274
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
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 10 100,046
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet40,000 RefundedBullet 11 60,046
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? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see 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 changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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.
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 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 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 instructions .............
    11
    Yes
     
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletHTTP://PHILLIPS-SCHOLARSHIP.ORG
    14
    The books are in care ofbulletLORING WOLCOTT COOLIDGE Telephone no.bullet (617) 523-6531

    Located atbullet230 CONGRESS STREETBOSTONMA ZIP+4bullet02110
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    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 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 2018?.............
    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 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    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 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 2018 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 2018.)..................
    3b
     
    No
    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 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (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 4945(d)(4)(A)? See 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 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
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    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 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
    ARTHUR H EMERY DIRECTOR
    1.00
    35,137 0 0
    C/O LWC 230 CONGRESS STREET
    BOSTON,MA02110
    LAWRENCE COOLIDGE TREASURER/DIRECTOR
    1.00
    47,137 0 0
    C/O LWC 230 CONGRESS STREET
    BOSTON,MA02110
    JOHN H FINLEY IV CLERK/DIRECTOR
    1.00
    35,137 0 0
    C/O LWC 230 CONGRESS STREET
    BOSTON,MA02110
    RICHARD GROSS DIRECTOR
    1.00
    35,137 0 0
    C/O LWC 230 CONGRESS STREET
    BOSTON,MA02110
    ROBERT M RANDOLPH PRESIDENT/DIRECTOR
    1.00
    35,137 0 0
    C/O LWC 230 CONGRESS STREET
    BOSTON,MA02110
    BARBARA W ILER EXECUTIVE DIRECTOR
    40.00
    197,663 31,624 0
    27 FLINT ST UNIT A
    SALEM,MA01970
    2 Compensation of five highest-paid employees (other than those included on line 1—see 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
    PAMELA CONSTANTINE PROGRAM DIRECTOR
    31.00
    102,663 36,694 0
    27 FLINT STREET UNIT A
    SALEM,MA01970
    KATHLEEN GEARAN ASSOCIATE PROGRAM DI
    25.00
    52,263 32,515 0
    27 FLINT STREET UNIT A
    SALEM,MA01970
    MADELEINE JACOBS PROGRAM ASSOCIATE
    40.00
    67,430 12,580 0
    27 FLINT STREET UNIT A
    SALEM,MA01970
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    LORING WOLCOTT & COOLIDGE TRUST LLC INVESTMENT ADVISOR 155,520
    230 CONGRESS STREET
    BOSTON,MA02110
    HOWLAND CAPITAL MANAGEMENT INVESTMENT ADVISOR 87,189
    75 FEDERAL STREET 1100
    BOSTON,MA02110
    Total number of others receiving over $50,000 for professional services.............bullet0
    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  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see 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 instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see 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
    60,470,136
    b
    Average of monthly cash balances.......................
    1b
    2,405,362
    c
    Fair market value of all other assets (see instructions)................
    1c
    15,009,966
    d
    Total (add lines 1a, b, and c).........................
    1d
    77,885,464
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    77,885,464
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,168,282
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    76,717,182
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,835,859
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    3,835,859
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    65,228
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    65,228
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,770,631
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    20,194
    5
    Add lines 3 and 4............................
    5
    3,790,825
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    3,790,825
    Part XII
    Qualifying Distributions (see 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
    4,334,502
    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
    10,884
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    4,345,386
    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 instructions.................
    5
    65,228
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    4,280,158
    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 (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus
    (b)
    Years prior to 2017
    (c)
    2017
    (d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 3,790,825
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 281,257
    b From 2014...... 279,612
    c From 2015...... 140,024
    d From 2016...... 365,589
    e From 2017...... 300
    fTotal of lines 3a through e........ 1,066,782
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 4,345,386
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....
    0
    c Treated as distributions out of corpus (Election
    required—see instructions)........
    0
    d Applied to 2018 distributable amount..... 3,790,825
    e Remaining amount distributed out of corpus 554,561
    5 Excess distributions carryover applied to 2018. 0 0
    (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 1,621,343
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........
    0
    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......
    0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........
    0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............
    0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........
    0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......
    0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...
    281,257
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......
    1,340,086
    10 Analysis of line 9:
    a Excess from 2014.... 279,612
    b Excess from 2015.... 140,024
    c Excess from 2016.... 365,589
    d Excess from 2017.... 300
    e Excess from 2018.... 554,561
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see 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 2018, enter the date of the ruling....... bullet
     
    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) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....
             
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........
             
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....
             
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)
             
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...
             
    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) ....
             
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....
             
    (3) Largest amount of support
    from an exempt organization
             
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see 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).)
    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 or e-mail address of the person to whom applications should be addressed:
    THE STEPHEN PHILLIPS MEMORIAL SCHOL
    PO BOX 870
    SALEM,MA01970
    (978) 744-2111
    STAFF@SPSCHOLARS.ORG
    bThe form in which applications should be submitted and information and materials they should include:
    SEE THE "PROSPECTIVE APPLICANTS" & "APPLICATIONS AND FORMS" SECTIONS OF THE SCHOLARSHIP FUND'S WEBSITE FOR APPLICATIONS. THE TRUST'S WEBSITE IS LISTED ON PAGE 5, PART VII-A, LINE 13.
    cAny submission deadlines:
    MAY 1ST
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    CHECKS ARE WRITTEN DIRECTLY TO THE COLLEGES AND UNIVERSITIES THE RECIPIENTS ARE ATTENDING. SCHOLARSHIPS ARE GIVEN ONLY TO STUDENTS WHOSE PERMANENT RESIDENCE IS IN A NEW ENGLAND STATE HOWEVER THE STUDENT MAY ATTEND ANY COLLEGE OR UNIVERSITY IN THE UNITED STATES.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    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
    ABBOTT JOY
    GRACE COLLEGE
    WINONA LAKE,IN46590
    N/A I SCHOLARSHIP 6,000
    ABIGAIL MILLARD
    GORDON COLLEGE
    WENHAM,MA01984
    N/A I SCHOLARSHIP 2,000
    ABIGAIL SHIDELER
    PROVIDENCE COLLEGE
    PROVIDENCE,RI02918
    N/A I SCHOLARSHIP 12,000
    ABIGAIL SHOBAJO
    SUFFOLK UNIVERSITY
    BOSTON,MA02108
    N/A I SCHOLARSHIP 14,000
    ADEDOLAPO ADEBANJO
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 4,000
    AISHA REVOLUS
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 6,000
    AISLYN PENA
    NORTHEASTERN UNIVERSITY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 6,000
    ALEJANDRO RUBERO
    SALEM STATE UNIVERSITY
    SALEM,MA01970
    N/A I SCHOLARSHIP 3,000
    ALEXANDRA BETTENCOURT
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 21,000
    ALEXXIA SHORTALL
    NORTHEASTERN UNIVERSITY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 10,000
    ALICIA MARX
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 16,000
    ALIKA ZANGIEVA
    GEORGE WASHINGTON UNIVERSITY
    ASHBURN,VA20147
    N/A I SCHOLARSHIP 10,000
    ALISON BARANAUSKAS
    SPRINGFIELD COLLEGE
    SPRINGFIELD,MA011093797
    N/A I SCHOLARSHIP 4,000
    ALLISON CONTILLO
    JOHNSON WALES UNIVERSITY
    PROVIDENCE,RI02903
    N/A I SCHOLARSHIP 16,250
    ALLISON CULLEN
    SAINT MICHAELS COLLEGE
    COLCHESTER,VT05439
    N/A I SCHOLARSHIP 9,500
    ALLISON LEHOUX
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 5,000
    ALYSSA CURRIER CURRIER
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 3,000
    AMADOU DIANE
    CENTRAL CONNECTICUT STATE UNIVERSIT
    NEW BRITAIN,CT06050
    N/A I SCHOLARSHIP 4,000
    AMANDA IDUSUYI
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 15,000
    AN NGUYEN
    BRIDGEWATER STATE UNIVERSITY
    BRIDGEWATER,MA02325
    N/A I SCHOLARSHIP 3,000
    ANDREA PLOURDE
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 3,000
    ANDREW MITCHELL
    BOSTON ARCHITECTURAL COLLEGE
    BOSTON,MA02115
    N/A I SCHOLARSHIP 13,000
    ANGELA MACHON
    ROGER WILLIAMS UNIVERSITY
    BRISTOL,RI02809
    N/A I SCHOLARSHIP 9,000
    ANGELICA E MERINO-MONGE
    BARD COLLEGE
    ANNANDALEONHUDSON,NY12504
    N/A I SCHOLARSHIP 7,000
    ANGELICA PIERCE
    SUFFOLK UNIVERSITY
    BOSTON,MA02108
    N/A I SCHOLARSHIP 8,000
    ANGELY SANTANA
    WENTWORTH INSTITUTE OF TECHNOLOGY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 12,000
    ANGEMARIE THERMIDOR
    REGIS COLLEGE
    WESTON,MA02193
    N/A I SCHOLARSHIP 11,000
    ANISE MCCROSKEY-NEFF
    ITHACA COLLEGE
    ITHACA,NY14850
    N/A I SCHOLARSHIP 6,000
    ANNA GORFINKEL
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 6,000
    ANXHELO RIPA
    WORCESTER POLYTECHNIC INSTITUTE
    WORCESTER,MA01609
    N/A I SCHOLARSHIP 17,000
    ARIANNA DENITTO
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 4,000
    ARMANDO BARRAGAN
    NORWICH UNIVERSITY
    NORTHFIELD,VT05663
    N/A I SCHOLARSHIP 6,000
    ASHLEY BUDD
    SAINT ANSELM COLLEGE
    MANCHESTER,NH03102
    N/A I SCHOLARSHIP 3,000
    ASHLEY CARDOSO
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 6,000
    ASHLEY EUGLEY
    BARD COLLEGE
    ANNANDALEONHUDSON,NY12504
    N/A I SCHOLARSHIP 4,000
    ASHLEY GIANNONE
    SAINT MICHAELS COLLEGE
    COLCHESTER,VT05439
    N/A I SCHOLARSHIP 11,000
    ASHLEY LEVESQUE
    MESSIAH COLLEGE
    MECHANICSBURG,PA17055
    N/A I SCHOLARSHIP 17,000
    ASHLEY SZCZOCZARZ
    BRIDGEWATER STATE UNIVERSITY
    BRIDGEWATER,MA02325
    N/A I SCHOLARSHIP 2,000
    ASHLEY YUNG
    BOSTON COLLEGE
    CHESTNUT HILL,MA024673804
    N/A I SCHOLARSHIP 4,000
    AVEREY HOMER
    MARIST COLLEGE
    POUGHKEEPSIE,NY12601
    N/A I SCHOLARSHIP 17,000
    BAILEE GANNON
    UNIVERSITY OF FLORIDA
    GAINSVILLE,FL326114025
    N/A I SCHOLARSHIP 2,000
    BRADY LAMONTAGNE
    UNIVERSITY OF NEW ENGLAND
    BIDDEFORD,ME04005
    N/A I SCHOLARSHIP 6,000
    BRANDON LANDRY
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 16,000
    BRENDA PAREDES-ARCE
    CLARK UNIVERSITY
    WORCESTER,MA01610
    N/A I SCHOLARSHIP 13,000
    BRENDA TA
    COLLEGE OF THE HOLY CROSS
    WORCESTER,MA01610
    N/A I SCHOLARSHIP 10,000
    BRIAN HOANG
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 5,000
    BRIAN MAYVILLE
    BOSTON UNIVERSITY
    BOSTON,MA02215
    N/A I SCHOLARSHIP 8,000
    BRIAN RAMIREZ
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 3,000
    BRIANA BARTHOLOMEW
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 6,000
    BRIANNA CASTRO
    EMMANUEL COLLEGE MA
    BOSTON,MA02115
    N/A I SCHOLARSHIP 7,000
    BRIEANN WALLACE
    NORWICH UNIVERSITY
    NORTHFIELD,VT05663
    N/A I SCHOLARSHIP 7,000
    BRIGETTE THOMPSON
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 11,000
    BRITTANY RODRIGUEZ
    BOSTON COLLEGE
    CHESTNUT HILL,MA024673804
    N/A I SCHOLARSHIP 2,000
    BROOKE SHAW
    SOUTHERN NEW HAMPSHIRE UNIVERSITY
    MANCHESTER,NH03106
    N/A I SCHOLARSHIP 7,000
    BRYANNA MATIAS
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 2,000
    CAMERON BOSSE
    UNIVERSITY OF DETROIT MERCY
    DETROIT,MI482213038
    N/A I SCHOLARSHIP 5,000
    CAMILLA SILVA
    UNIVERSITY OF MAINE ORONO
    ORONO,ME044695703
    N/A I SCHOLARSHIP 5,000
    CANDACE WALDRON
    UNIVERSITY OF TAMPA
    TAMPA,FL33606
    N/A I SCHOLARSHIP 7,000
    CAROLINE AKERLEY
    GEORGIA INSTITUTE OF TECHNOLOGY
    ATLANTA,GA303320460
    N/A I SCHOLARSHIP 13,000
    CAROLINE MURPHY
    WORCESTER POLYTECHNIC INSTITUTE
    WORCESTER,MA01609
    N/A I SCHOLARSHIP 16,000
    CARRIE OSBORN
    UNIVERSITY OF MASSACHUSETTS
    DARTMOUTH
    NORTH DARTMOUTH,MA02747
    N/A I SCHOLARSHIP 3,000
    CATHY HUYNH
    UNIVERSITY OF MASSACHUSETTS LOWELL
    LOWELL,MA018545110
    N/A I SCHOLARSHIP 3,000
    CHEEZNAH MILORD
    SIMMONS COLLEGE
    BOSTON,MA02115
    N/A I SCHOLARSHIP 6,000
    CHELSEA BOURBEAU
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 9,000
    CHEYENNE LANGRIN-DELGADO
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 6,000
    CHI KWOK
    UNIVERSITY OF SOUTHERN CALIFORNIA
    LOS ANGELES,CA900890914
    N/A I SCHOLARSHIP 10,000
    CHLOE QIN
    BOSTON UNIVERSITY
    BOSTON,MA02215
    N/A I SCHOLARSHIP 3,000
    CHRISPEN CHOKUREVA JR
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 5,000
    CHRISTIAN ARBOUR
    HOUGHTON COLLEGE
    HOUGHTON,NY14744
    N/A I SCHOLARSHIP 3,000
    CHRISTINA BEHEN
    SAINT ANSELM COLLEGE
    MANCHESTER,NH03102
    N/A I SCHOLARSHIP 9,000
    CHRISTINA SIMILIEN
    UNIVERSITY OF SOUTHERN CALIFORNIA
    LOS ANGELES,CA900890914
    N/A I SCHOLARSHIP 3,000
    CHRISTINA TANG
    ALBANY COLLEGE OF PHARMACY
    ALBANY,NY12208
    N/A I SCHOLARSHIP 5,000
    CHRISTOPHER CARMONA
    CLARK UNIVERSITY
    WORCESTER,MA01610
    N/A I SCHOLARSHIP 10,000
    CINDY LE
    MASSACHUSETTS COLLEGE OF PHARMACY
    AND HEALTH SCIENCES
    BOSTON,MA02115
    N/A I SCHOLARSHIP 7,000
    CLAUDIA GRULLON SALCEDO
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 9,000
    CONNER GRIFFIN
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 3,000
    CONNOR BROWN
    UNIVERSITY OF RHODE ISLAND
    KINGSTON,RI02881
    N/A I SCHOLARSHIP 8,000
    COREY BRYANT
    MOREHOUSE COLLEGE
    ATLANTA,GA30314
    N/A I SCHOLARSHIP 3,000
    COURTNEY HATTON
    UNIVERSITY OF MAINE ORONO
    ORONO,ME044695703
    N/A I SCHOLARSHIP 6,000
    CRISBELLY MEDINA ADAMES
    CLARK UNIVERSITY
    WORCESTER,MA01610
    N/A I SCHOLARSHIP 5,000
    DANEIL WHYTE
    UNIVERSITY OF VERMONT
    BURLINGTON,VT05405
    N/A I SCHOLARSHIP 2,000
    DANIEL DIAZ
    UNIVERSITY OF MASSACHUSETTS BOSTON
    BOSTON,MA02125
    N/A I SCHOLARSHIP 3,000
    DANIEL MCCUTCHEON
    GORDON COLLEGE
    WENHAM,MA01984
    N/A I SCHOLARSHIP 4,000
    DANIEL MILLS
    UNIVERSITY OF NEW ENGLAND
    BIDDEFORD,ME04005
    N/A I SCHOLARSHIP 12,000
    DANIELLE ANDREWS
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 17,000
    DANIELLE BRAGG
    UNIVERSITY OF NEW ENGLAND
    BIDDEFORD,ME04005
    N/A I SCHOLARSHIP 6,000
    DANIELLE GEORGE
    CULINARY INSTITUTE OF AMERICA
    HYDE PARK,NY12538
    N/A I SCHOLARSHIP 4,000
    DANIQUE MONTIQUE
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 11,000
    DAQUAN CARR
    CENTRAL CONNECTICUT STATE UNIVERSIT
    NEW BRITAIN,CT06050
    N/A I SCHOLARSHIP 16,000
    DAVID BRYANT
    UNIVERSITY OF VERMONT
    BURLINGTON,VT05405
    N/A I SCHOLARSHIP 2,000
    DAVID MACHON
    WENTWORTH INSTITUTE OF TECHNOLOGY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 7,000
    DAVID MORRIS
    ITHACA COLLEGE
    ITHACA,NY14850
    N/A I SCHOLARSHIP 28,000
    DEBORAH DE OLIVEIRA
    NEW ENGLAND COLLEGE
    HENNIKER,NH03242
    N/A I SCHOLARSHIP 6,000
    DENISHA DOMINGUEZ
    SALEM STATE UNIVERSITY
    SALEM,MA01970
    N/A I SCHOLARSHIP 5,000
    DEPIKA TAMANG
    RIVIER UNIVERSITY
    NASHUA,NH03060
    N/A I SCHOLARSHIP 5,000
    DEVON ROBERTS
    UNIVERSITY OF SAINT JOSEPH CT
    WEST HARTFORD,CT06117
    N/A I SCHOLARSHIP 3,000
    DIANA TERESHCHUK
    ELMS COLLEGE
    CHICOPEE,MA01013
    N/A I SCHOLARSHIP 10,000
    DJACKENS CELESTIN
    UNIVERSITY OF MASSACHUSETTS LOWELL
    LOWELL,MA018545110
    N/A I SCHOLARSHIP 3,000
    DOMINIQUE GUILFORD
    SPELMAN COLLEGE
    ATLANTA,GA30314
    N/A I SCHOLARSHIP 18,000
    DONG ZHI GUO
    BOSTON UNIVERSITY
    BOSTON,MA02215
    N/A I SCHOLARSHIP 15,000
    DRAVEN BISHOP
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 12,000
    DUNIA DUNNER
    BOSTON UNIVERSITY
    BOSTON,MA02215
    N/A I SCHOLARSHIP 15,000
    DYLAN MCALLISTER
    ITHACA COLLEGE
    ITHACA,NY14850
    N/A I SCHOLARSHIP 8,000
    EBONY CAMPBELL
    ALABAMA STATE UNIVERSITY
    MONTGOMERY,AL361010271
    N/A I SCHOLARSHIP 8,000
    EBONY MOORE
    UNIVERSITY OF MASSACHUSETTS LOWELL
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    N/A I SCHOLARSHIP 4,000
    MARICIELO FABIAN
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 5,000
    MARISA CIPITELLI
    SALVE REGINA UNIVERSITY
    NEWPORT,RI02840
    N/A I SCHOLARSHIP 12,000
    MARISSA ANDERSON
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 5,000
    MARLENA RODRIGUES
    TEMPLE UNIVERSITY
    PHILADELPHIA,PA19122
    N/A I SCHOLARSHIP 17,000
    MARLIE ATLABACHEW
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 8,000
    MARLON PORTILLO
    UNIVERSITY OF MASSACHUSETTS BOSTON
    BOSTON,MA02125
    N/A I SCHOLARSHIP 12,000
    MARMARAH SIMILIEN
    UNIVERSITY OF SOUTHERN CALIFORNIA
    LOS ANGELES,CA900890914
    N/A I SCHOLARSHIP 3,000
    MARRISSA ANGIULO
    MARYMOUNT MANHATTAN COLLEGE
    NEW YORK,NY10021
    N/A I SCHOLARSHIP 15,000
    MATEO CATANO
    SAINT LOUIS UNIVERSITY
    ST LOUIS,MO63103
    N/A I SCHOLARSHIP 6,000
    MATHEUS ESPINDULA-RAMOS
    GORDON COLLEGE
    WENHAM,MA01984
    N/A I SCHOLARSHIP 8,000
    MATTHEW ALLEN
    NORTHERN VERMONT UNIVERSITY JOHNSON
    JOHNSON,VT05656
    N/A I SCHOLARSHIP 2,000
    MATTHEW KASKI
    ENDICOTT COLLEGE
    BEVERLY,MA01915
    N/A I SCHOLARSHIP 8,000
    MATTHEW KELLY
    VERMONT TECHNICAL COLLEGE
    RANDOLPH CENTER,VT05061
    N/A I SCHOLARSHIP 2,000
    MATTHEW PORADA
    GEORGE MASON UNIVERSITY
    FAIRFAX,VA22030
    N/A I SCHOLARSHIP 12,000
    MATTHEW SEXTON
    COLLEGE OF THE HOLY CROSS
    WORCESTER,MA01610
    N/A I SCHOLARSHIP 3,000
    MAXWELL COPANS
    LESLEY UNIVERSITY
    CAMBRIDGE,MA02138
    N/A I SCHOLARSHIP 10,000
    MAY SITU
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 4,000
    MAYLENE RODRIGUEZ SCOTT
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 6,000
    MEAGHAN WIGGIN
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 11,000
    MEGAN DUNCAN
    PLYMOUTH STATE UNIVERSITY
    PLYMOUTH,NH03264
    N/A I SCHOLARSHIP 3,000
    MEGAN FORDE
    BENTLEY UNIVERSITY
    WALTHAM,MA02452
    N/A I SCHOLARSHIP 17,000
    MEGAN KEHOE
    LIBERTY UNIVERSITY
    LYNCHBURG,VA24506
    N/A I SCHOLARSHIP 6,000
    MEGAN OSGOOD
    UNIVERSITY OF TAMPA
    TAMPA,FL33606
    N/A I SCHOLARSHIP 5,000
    MICHAEL ROYCE
    SUFFOLK UNIVERSITY
    BOSTON,MA02108
    N/A I SCHOLARSHIP 4,000
    MICHELLE OLIVEIRA
    EMMANUEL COLLEGE MA
    BOSTON,MA02115
    N/A I SCHOLARSHIP 4,500
    MINQING CHEN
    SIMMONS COLLEGE
    BOSTON,MA02115
    N/A I SCHOLARSHIP 9,000
    MOLLY THIBAULT
    UNITY COLLEGE
    UNITY,ME04988
    N/A I SCHOLARSHIP 4,000
    MONICA GUEVARA
    ELMS COLLEGE
    CHICOPEE,MA01013
    N/A I SCHOLARSHIP 7,000
    MONIQUE REYES
    UNIVERSITY OF MASSACHUSETTS LOWELL
    LOWELL,MA018545110
    N/A I SCHOLARSHIP 2,000
    MORGAN VASSEUR
    SAINT MICHAELS COLLEGE
    COLCHESTER,VT05439
    N/A I SCHOLARSHIP 6,000
    NANCY ALVAREZ
    UNIVERSITY OF RHODE ISLAND
    KINGSTON,RI02881
    N/A I SCHOLARSHIP 18,500
    NAQUELA KNOX
    SAINT JOSEPHS COLLEGE MAINE
    STANDISH,ME04084
    N/A I SCHOLARSHIP 4,000
    NASRO MOHAMED
    UNIVERSITY OF NEW ENGLAND
    BIDDEFORD,ME04005
    N/A I SCHOLARSHIP 17,000
    NATALEE DEAETTE
    BOSTON COLLEGE
    CHESTNUT HILL,MA024673804
    N/A I SCHOLARSHIP 2,000
    NATALIE LAURENDEAU
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 5,000
    NATASHA ACOSTA
    BARD COLLEGE
    ANNANDALEONHUDSON,NY12504
    N/A I SCHOLARSHIP 10,000
    NATYANA FONSECA
    RHODE ISLAND SCHOOL OF DESIGN
    PROVIDENCE,RI02903
    N/A I SCHOLARSHIP 10,000
    NEELIE KAIFER
    BRANDEIS UNIVERSITY
    WALTHAM,MA02453
    N/A I SCHOLARSHIP 6,000
    NHI TRAN
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 14,000
    NICHOLAS AHLGREN
    KEENE STATE COLLEGE
    KEENE,NH03435
    N/A I SCHOLARSHIP 6,000
    NICHOLAS BAZOS
    ROCHESTER INSTITUTE OF TECHNOLOGY
    ROCHESTER,NY14623
    N/A I SCHOLARSHIP 4,000
    NICOLA BRIGGS
    UNIVERSITY OF MASSACHUSETTS BOSTON
    BOSTON,MA02125
    N/A I SCHOLARSHIP 9,000
    NICOLE-PAIGE HAYES
    UNIVERSITY OF RHODE ISLAND
    KINGSTON,RI02881
    N/A I SCHOLARSHIP 17,000
    NIRA ACHARYA
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 6,000
    NOAH SHERBURNE
    WENTWORTH INSTITUTE OF TECHNOLOGY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 11,000
    NUBIAN BROOKS
    UNIVERSITY OF MASSACHUSETTS LOWELL
    LOWELL,MA018545110
    N/A I SCHOLARSHIP 3,000
    NUNO EKOYE DE SENA MARTINS
    UNIVERSITY OF MASSACHUSETTS LOWELL
    LOWELL,MA018545110
    N/A I SCHOLARSHIP 3,000
    OLIVIA JONES
    WORCESTER POLYTECHNIC INSTITUTE
    WORCESTER,MA01609
    N/A I SCHOLARSHIP 22,000
    OLIVIA SETZER
    SALEM STATE UNIVERSITY
    SALEM,MA01970
    N/A I SCHOLARSHIP 4,000
    OMOLARA ADEKEYE
    BOSTON UNIVERSITY
    BOSTON,MA02215
    N/A I SCHOLARSHIP 2,000
    PAIGE BRIGHAM
    SAINT JOHNS UNIVERSITY
    QUEENS,NY11439
    N/A I SCHOLARSHIP 15,000
    PAIGE MADDY
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 19,000
    PALOMA VASQUEZ
    SIMMONS COLLEGE
    BOSTON,MA02115
    N/A I SCHOLARSHIP 15,000
    PATRICIA ASUNCION
    BOSTON UNIVERSITY
    BOSTON,MA02215
    N/A I SCHOLARSHIP 16,000
    PATRICK PANG
    UNIVERSITY OF MASSACHUSETTS LOWELL
    LOWELL,MA018545110
    N/A I SCHOLARSHIP 2,000
    PEARL AMONU MCCARTHY
    UNIVERSITY OF MASSACHUSETTS
    DARTMOUTH
    NORTH DARTMOUTH,MA02747
    N/A I SCHOLARSHIP 4,000
    PERLA GENAO
    UNIVERSITY OF MASSACHUSETTS BOSTON
    BOSTON,MA02125
    N/A I SCHOLARSHIP 5,000
    PEYTON EISLER
    ENDICOTT COLLEGE
    BEVERLY,MA01915
    N/A I SCHOLARSHIP 12,000
    PHOEBEE JEAN
    PROVIDENCE COLLEGE
    PROVIDENCE,RI02918
    N/A I SCHOLARSHIP 3,000
    POULARD SYLVESTRE
    GORDON COLLEGE
    WENHAM,MA01984
    N/A I SCHOLARSHIP 10,000
    PRECIOUS PEREZ
    BERKLEE COLLEGE OF MUSIC
    BOSTON,MA022153693
    N/A I SCHOLARSHIP 5,000
    PRINCE GYAU
    WORCESTER STATE UNIVERSITY
    WORCESTER,MA01602
    N/A I SCHOLARSHIP 3,000
    RAKSHA BUSHAN
    HOFSTRA UNIVERSITY
    HEMPSTEAD,NY115491260
    N/A I SCHOLARSHIP 10,000
    RAM ACHARYA
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 4,000
    RAMONA RAMSARRAN
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 6,000
    RAQUEL KIDDU
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 4,000
    RASHELLE CENTEIO
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 4,000
    RAVY GOMES
    MASSACHUSETTS COLLEGE OF LIBERAL
    ARTS
    NORTH ADAMS,MA01247
    N/A I SCHOLARSHIP 2,000
    REAGHAN TRIPP
    OHIO STATE UNIVERSITY
    COLUMBUS,OH432101132
    N/A I SCHOLARSHIP 5,000
    REBECCA BERNARDO
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 2,000
    REGINA THAM
    BRANDEIS UNIVERSITY
    WALTHAM,MA02453
    N/A I SCHOLARSHIP 11,000
    REYLINA PIMENTEL
    UNIVERSITY OF MASSACHUSETTS LOWELL
    LOWELL,MA018545110
    N/A I SCHOLARSHIP 3,000
    REYMOND ALDARONDO
    UNIVERSITY OF MASSACHUSETTS LOWELL
    LOWELL,MA018545110
    N/A I SCHOLARSHIP 4,000
    REZWAN ALI
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 23,000
    RICHARD DAO
    NORTHEASTERN UNIVERSITY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 6,000
    RILEY-ANNE NEE
    BRIDGEWATER STATE UNIVERSITY
    BRIDGEWATER,MA02325
    N/A I SCHOLARSHIP 3,000
    ROBERT NGUYEN
    BOSTON UNIVERSITY
    BOSTON,MA02215
    N/A I SCHOLARSHIP 10,000
    ROBERT ZENGA
    UNIVERSITY OF RHODE ISLAND
    KINGSTON,RI02881
    N/A I SCHOLARSHIP 3,000
    ROSEMARY NABUKEERA
    SALEM STATE UNIVERSITY
    SALEM,MA01970
    N/A I SCHOLARSHIP 5,000
    RUTH WECHE
    CLARK UNIVERSITY
    WORCESTER,MA01610
    N/A I SCHOLARSHIP 4,000
    RYAN ANDRICK
    UNIVERSITY OF MAINE ORONO
    ORONO,ME044695703
    N/A I SCHOLARSHIP 3,500
    SA LIA MOO
    SAINT MICHAELS COLLEGE
    COLCHESTER,VT05439
    N/A I SCHOLARSHIP 7,000
    SABRINA ALI
    SUFFOLK UNIVERSITY
    BOSTON,MA02108
    N/A I SCHOLARSHIP 3,000
    SAGE LEAFSONG
    COLLEGE OF THE ATLANTIC
    BAR HABOR,ME04609
    N/A I SCHOLARSHIP 5,000
    SALIHA GRACE SHELTON
    GORDON COLLEGE
    WENHAM,MA01984
    N/A I SCHOLARSHIP 11,000
    SALLY CHEN
    SUFFOLK UNIVERSITY
    BOSTON,MA02108
    N/A I SCHOLARSHIP 4,000
    SAMANTHA ACKERLEY
    EMERSON COLLEGE
    BOSTON,MA021164624
    N/A I SCHOLARSHIP 25,000
    SAMANTHA CIMINO
    SAINT ANSELM COLLEGE
    MANCHESTER,NH03102
    N/A I SCHOLARSHIP 9,000
    SAMANTHA DARGIE
    FORDHAM UNIVERSITY
    NEW YORK,NY10023
    N/A I SCHOLARSHIP 8,000
    SAMANTHA DAVERN
    UNIVERSITY OF NEW HAVEN
    WEST HAVEN,CT06516
    N/A I SCHOLARSHIP 6,000
    SAMANTHA OTALVARO
    PROVIDENCE COLLEGE
    PROVIDENCE,RI02918
    N/A I SCHOLARSHIP 10,000
    SAMANTHA WITKUS
    SIMMONS COLLEGE
    BOSTON,MA02115
    N/A I SCHOLARSHIP 7,000
    SAMELL DOSSEN
    HOWARD UNIVERSITY
    WASHINGTON,DC20059
    N/A I SCHOLARSHIP 15,000
    SAMERAWET TSGIE
    LA SALLE UNIVERSITY
    PHILADELPHIA,PA19141
    N/A I SCHOLARSHIP 7,000
    SAMRAWIT TISASU
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 8,000
    SAMUEL ACHEAMPONG
    COLLEGE OF THE HOLY CROSS
    WORCESTER,MA01610
    N/A I SCHOLARSHIP 2,000
    SARA GILLILAND
    WINGATE UNIVERSITY
    WINGATE,NC281740157
    N/A I SCHOLARSHIP 5,000
    SARA KHAN
    COLLEGE OF THE HOLY CROSS
    WORCESTER,MA01610
    N/A I SCHOLARSHIP 3,000
    SARA MELARA
    SIMMONS COLLEGE
    BOSTON,MA02115
    N/A I SCHOLARSHIP 7,000
    SARAH COVINO
    EASTERN CONNECTICUT STATE UNIVERSIT
    WILLIMANTIC,CT06226
    N/A I SCHOLARSHIP 7,700
    SARAH LAWTON
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 5,000
    SARAH MACMULLAN
    NORTH CAROLINA STATE UNIVERSITY
    RALEIGH
    RALEIGH,NC27695
    N/A I SCHOLARSHIP 4,000
    SARAH PIETTE
    UNIVERSITY OF NEW HAVEN
    WEST HAVEN,CT06516
    N/A I SCHOLARSHIP 16,000
    SARAH SIMPSON
    UNIVERSITY OF SOUTH CAROLINA
    COLUMBIA
    COLUMBIA,SC29208
    N/A I SCHOLARSHIP 2,000
    SARENA SANTOS
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 3,000
    SASHA MEGIE-MONDE
    UNIVERSITY OF SAN FRANCISCO
    SAN FRANCISCO,CA94117
    N/A I SCHOLARSHIP 12,000
    SAVANNAH LUBANSKI
    GORDON COLLEGE
    WENHAM,MA01984
    N/A I SCHOLARSHIP 5,000
    SAYGE WILLIS
    EMERSON COLLEGE
    BOSTON,MA021164624
    N/A I SCHOLARSHIP 30,000
    SEAN EHRLICH
    NORTHEASTERN UNIVERSITY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 3,000
    SEAN MACMULLAN
    GEORGIA INSTITUTE OF TECHNOLOGY
    ATLANTA,GA303320460
    N/A I SCHOLARSHIP 10,000
    SEBASTIAN CARDENAS
    BARD COLLEGE
    ANNANDALEONHUDSON,NY12504
    N/A I SCHOLARSHIP 4,000
    SETH BUENO
    SAINT MICHAELS COLLEGE
    COLCHESTER,VT05439
    N/A I SCHOLARSHIP 13,000
    SHAKHODAT KHANBABAEVA
    MARIST COLLEGE
    POUGHKEEPSIE,NY12601
    N/A I SCHOLARSHIP 6,000
    SHANTAL RISK
    SYRACUSE UNIVERSITY
    SYRACUSE,NY13244
    N/A I SCHOLARSHIP 12,000
    SHANTAY OMOROGHOMWAN
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 7,000
    SHAVIKA MISHRA
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 5,000
    SHAWN PREVAL
    EMERSON COLLEGE
    BOSTON,MA021164624
    N/A I SCHOLARSHIP 10,000
    SHAWNA ANTONELLI
    EMMANUEL COLLEGE MA
    BOSTON,MA02115
    N/A I SCHOLARSHIP 12,000
    SHAYANE DALENCOURT-SIMON
    EMMANUEL COLLEGE MA
    BOSTON,MA02115
    N/A I SCHOLARSHIP 11,000
    SHAYLA FARROW
    HOWARD UNIVERSITY
    WASHINGTON,DC20059
    N/A I SCHOLARSHIP 10,000
    SHIVANI PATEL
    MARIST COLLEGE
    POUGHKEEPSIE,NY12601
    N/A I SCHOLARSHIP 15,000
    SHREYAJ SHRESTHA
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 2,000
    SIERRA WHITE
    BOSTON UNIVERSITY
    BOSTON,MA02215
    N/A I SCHOLARSHIP 10,000
    SIMFORA BANGASIMBO
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 4,000
    SIMON ACEVEDO RODRIGUEZ
    BOSTON UNIVERSITY
    BOSTON,MA02215
    N/A I SCHOLARSHIP 20,000
    SONJA THEN
    SALVE REGINA UNIVERSITY
    NEWPORT,RI02840
    N/A I SCHOLARSHIP 6,000
    STAISHA FOSTER-JARVIS
    CLARK ATLANTA UNIVERSITY
    ATLANTA,GA30314
    N/A I SCHOLARSHIP 13,000
    STEPHANIE HARRISON
    JAMES MADISON UNIVERSITY
    HARRISONBURG,VA22807
    N/A I SCHOLARSHIP 12,000
    STEPHANIE HILL
    UNIVERSITY OF NEW ENGLAND
    BIDDEFORD,ME04005
    N/A I SCHOLARSHIP 18,000
    STEPHANIE REGIS
    NORTHEASTERN UNIVERSITY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 3,000
    SUSAN SUY
    SPRINGFIELD COLLEGE
    SPRINGFIELD,MA011093797
    N/A I SCHOLARSHIP 2,000
    SYDNEY FISHER
    TEMPLE UNIVERSITY
    PHILADELPHIA,PA19122
    N/A I SCHOLARSHIP 15,000
    TABITHA JOURDAN
    RIVIER UNIVERSITY
    NASHUA,NH03060
    N/A I SCHOLARSHIP 8,000
    TAKARA WEIR
    WESTFIELD STATE UNIVERSITY
    WESTFIELD,MA01086
    N/A I SCHOLARSHIP 8,000
    TALIA COTE
    SAINT MICHAELS COLLEGE
    COLCHESTER,VT05439
    N/A I SCHOLARSHIP 9,000
    TALITHA NASCIMENTO
    UNIVERSITY OF CONNECTICUT
    STORRS,CT062694100
    N/A I SCHOLARSHIP 12,000
    TATEYAUNA WILSON
    NORTHEASTERN UNIVERSITY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 2,000
    TATIANNA BATES
    COLBY-SAWYER COLLEGE
    NEW LONDON,NH03257
    N/A I SCHOLARSHIP 6,000
    TAYLOR BOUCHARD
    SOUTHERN NEW HAMPSHIRE UNIVERSITY
    MANCHESTER,NH03106
    N/A I SCHOLARSHIP 12,000
    TAYLOR SANTTI
    UNIVERSITY OF NEW HAMPSHIRE
    DURHAM,NH03824
    N/A I SCHOLARSHIP 2,000
    THAMARA ARIDOU
    AMERICAN UNIVERSITY
    WASHINGTON,DC200168001
    N/A I SCHOLARSHIP 2,000
    TIANA PUSCIZNA
    REGIS COLLEGE
    WESTON,MA02193
    N/A I SCHOLARSHIP 11,000
    TORI THOMPSON
    GORDON COLLEGE
    WENHAM,MA01984
    N/A I SCHOLARSHIP 9,000
    TREVOR ILTIS
    GROVE CITY COLLEGE
    GROVE CITY,PA16127
    N/A I SCHOLARSHIP 12,000
    TREY CARRIER
    WENTWORTH INSTITUTE OF TECHNOLOGY
    BOSTON,MA02115
    N/A I SCHOLARSHIP 3,000
    TYLER SZADAJ
    DREXEL UNIVERSITY
    PHILADELPHIA,PA19104
    N/A I SCHOLARSHIP 13,000
    VANESSA DELGIZZO
    QUINNIPIAC UNIVERSITY
    HAMDEN,CT06518
    N/A I SCHOLARSHIP 31,000
    VANESSA LAROCHE
    STONEHILL COLLEGE
    EASTON,MA023575510
    N/A I SCHOLARSHIP 5,000
    VANESSA VU
    COLLEGE OF THE HOLY CROSS
    WORCESTER,MA01610
    N/A I SCHOLARSHIP 5,000
    VASILIKI TZORTZIS
    LESLEY UNIVERSITY
    CAMBRIDGE,MA02138
    N/A I SCHOLARSHIP 6,000
    VICTORIA FLAVIN
    SUFFOLK UNIVERSITY
    BOSTON,MA02108
    N/A I SCHOLARSHIP 14,000
    VICTORIA ISHOLA
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 3,000
    VICTORIA SCHEUREN
    SUFFOLK UNIVERSITY
    BOSTON,MA02108
    N/A I SCHOLARSHIP 15,000
    VICTORIA ST JEAN
    BRANDEIS UNIVERSITY
    WALTHAM,MA02453
    N/A I SCHOLARSHIP 5,000
    WESLEY AGGREY
    NORTHPOINT BIBLE COLLEGE
    HAVERHILL,MA01835
    N/A I SCHOLARSHIP 7,000
    YAHAIRA R RODRIGUEZ RAMIREZ
    PROVIDENCE COLLEGE
    PROVIDENCE,RI02918
    N/A I SCHOLARSHIP 2,000
    YAHEYSI LEON LOPEZ
    UNIVERSITY OF RHODE ISLAND
    KINGSTON,RI02881
    N/A I SCHOLARSHIP 17,000
    YERALDO RODRIGUEZ
    UNIVERSITY OF MASSACHUSETTS AMHERST
    AMHERST,MA01003
    N/A I SCHOLARSHIP 4,000
    YOUSSEF BOUROUPHAEL
    DENISON UNIVERSITY
    GRANVILLE,OH43023
    N/A I SCHOLARSHIP 2,000
    ZACHARY ABBOTT
    WORCESTER POLYTECHNIC INSTITUTE
    WORCESTER,MA01609
    N/A I SCHOLARSHIP 22,000
    ZACHARY HYVARINEN
    AMERICAN UNIVERSITY
    WASHINGTON,DC200168001
    N/A I SCHOLARSHIP 15,000
    Total .................................bullet 3a 3,434,750
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    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 instructions.)
    1Program service revenue: (a)
    Business code
    (b)
    Amount
    (c)
    Exclusion code
    (d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........
        14 102,195  
    4 Dividends and interest from securities....     14 862,735  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............
        18 5,888,183  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 6,853,113 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    6,853,113
    (See worksheet in line 13 instructions 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 foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    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 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    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) (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
    Sign Here
    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) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    Firm's EIN SmallBullet
    Firm's address SmallBullet


    Phone no.
    Form 990-PF (2018)
    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.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    THE STEPHEN PHILLIPS MEMORIAL
    SCHOLARSHIP FUND INC
    Employer identification number

    27-5040651
    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 isn't covered by the General Rule and/or the Special Rules doesn't 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 on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't 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) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    THE STEPHEN PHILLIPS MEMORIAL
    SCHOLARSHIP FUND INC
    Employer identification number
    27-5040651
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.
    (b)
    Name, address, and ZIP + 4
    (c)
    Total contributions
    (d)
    Type of contribution
    1
    THE JANEY FUND CHARITABLE TRUST
     
    1330 BOYLSTON STREET
     
    CHESTNUT HILL, MA02467

    $ 71,000


    (Complete Part II for noncash contributions.)
    (a)
    No.
    (b)
    Name, address, and ZIP + 4
    (c)
    Total contributions
    (d)
    Type of contribution
    2
    CAROL H AND KEVIN W SHARER EDUCATION FOUNDATION
     
    717 17TH STREET STE 2800
     
    DENVER, CO80202

    $ 179,000


    (Complete Part II for noncash contributions.)
    (a)
    No.
    (b)
    Name, address, and ZIP + 4
    (c)
    Total contributions
    (d)
    Type of contribution
     
     
     
     

    $  


    (Complete Part II for noncash contributions.)
    (a)
    No.
    (b)
    Name, address, and ZIP + 4
    (c)
    Total contributions
    (d)
    Type of contribution
     
     
     
     

    $  


    (Complete Part II for noncash contributions.)
    (a)
    No.
    (b)
    Name, address, and ZIP + 4
    (c)
    Total contributions
    (d)
    Type of contribution
     
     
     
     

    $  


    (Complete Part II for noncash contributions.)
    (a)
    No.
    (b)
    Name, address, and ZIP + 4
    (c)
    Total contributions
    (d)
    Type of contribution
     
     
     
     

    $  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    THE STEPHEN PHILLIPS MEMORIAL
    SCHOLARSHIP FUND INC
    Employer identification number

    27-5040651
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (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
     
    $    
    (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) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    THE STEPHEN PHILLIPS MEMORIAL
    SCHOLARSHIP FUND INC
    Employer identification number

    27-5040651
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. 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 $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (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) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AccountingFeesSchedule
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 10,520 5,260   5,260

    TY 2018 GeneralExplanationAttachment
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Identifier Return Reference Explanation
    CONTROLLED ENTITY FORM 990-PF, PART VII-A, LINE 11 NAME OF CONTROLLED ENTITY: STEPHEN PHILLIPS MEMORIAL SCHOLARSHIP FUND LLC (DISREGARDED ENTITY)ADDRESS: C/O LWC, 230 CONGRESS STREET, BOSTON, MA 02110EIN: 27-5040651IT IS NOT AN EXCESSIVE BUSINESS HOLDING.THERE WERE NO TRANSFERS FROM OR TO THE CONTROLLED ENTITY DURING 2018.

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CORPORATE STOCKS (DOMESTIC & FOREIGN) 31,844,995 52,611,707

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    US Government Securities - End of Year Book Value:

    4,322,879
    US Government Securities - End of Year Fair Market Value:

    4,342,409
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2018 InvestmentsLandSchedule2
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    TIMBERLAND 1,964,453 0 1,964,453 13,187,550

    TY 2018 InvestmentsOtherSchedule2
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MUTUAL FUNDS AT COST 2,050,363 1,941,266
    INVESTMENT IN PARTNERSHIPS AT COST 1,597,788 1,822,416

    TY 2018 LandEtcSchedule2
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    OFFICE FURNITURE & EQUIPMENT 53,435 42,240 11,195 11,195
    OFFICE BUILDING 690,000 232,211 457,789 457,789
    BUILDING IMPROVEMENTS 22,350 4,641 17,709 17,709


    TY 2018 LegalFeesSchedule
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 3,186 1,593   1,593


    TY 2018 MortgagesAndNotesPayableSch
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Total Mortgage Amount: 97,634

    Item No. 1
    Lender's Name ORIGINAL AMOUNT-552000 INTEREST RATE-575 FIXED MATURITY DATE 110420
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan  
    Balance Due 97,634
    Date of Note  
    Maturity Date  
    Repayment Terms  
    Interest Rate  
    Security Provided by Borrower  
    Purpose of Loan  
    Description of Lender Consideration  
    Consideration FMV  


    TY 2018 OtherAssetsSchedule
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INTANGIBLE ASSETS NET OF ACCUMULATED AMORTIZATION 5,033 1,496 1,496


    TY 2018 OtherDecreasesSchedule
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Description Amount
    BOOK TAX DIFFERENCE REPORTING OF PARTNERSHIP INVESTMENTS 525,571


    TY 2018 OtherExpensesSchedule
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 11,771 0   11,771
    PRINTING AND POSTAGE 1,484 0   1,484
    TELEPHONE 4,752 0   4,752
    REPAIRS AND MAINTENANCE 4,992 0   4,992
    COMPUTER SUPPORT AND MAINTENANCE 18,698 0   18,698
    MISCELLANEOUS 6,830 0   6,830
    PAYROLL PROCESSING 2,416 0   2,416
    AMORTIZATION 4,533 0   4,533
    OFFICE SUPPLIES 3,012 0   3,012
    FILING FEES 519 0   519
    FROM HCM VENTURES FUND VI LLC K-1 0 18,351   0
    FROM HCM VENTURES FUND VII LLC K-1 0 29,895   0
    FROM SEAMANS GLOBAL OPP. FUND LLC K-1 0 183   0


    TY 2018 OtherIncomeSchedule2
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    FROM HCM VENTURE FUND VI LLC K-1   -81  
    FROM HCM VENTURE FUND VII LLC K-1   1,359  
    SECTION 965(A) INCOME INCLUSION 0 4,571 0


    TY 2018 OtherIncreasesSchedule
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Description Amount
    REFUND OF UNEXPENDED SCHOLARSHIPS 20,194


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONSULTANTS 84,915 0   84,915
    INVESTMENT ADVISORY AND CUSTODY FEES 261,651 261,651   0


    TY 2018 TaxesSchedule
    Name:
    THE STEPHEN PHILLIPS MEMORIAL
     
    SCHOLARSHIP FUND INC
    EIN:
    27-5040651
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 32,000 0   0