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
Cummings Foundation Inc
 
% WILLIAM F GRANT
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 or province, country, and ZIP or foreign postal code
Woburn, MA01801
A Employer identification number

04-3073023
B Telephone number (see instructions)

(781) 935-8000
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$1,378,825,311J 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) 12,436,993
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 12,316,091 12,316,091 12,316,091
5a Gross rents............ 88,756 88,756 88,756
b Net rental income or (loss) 72,169
6a Net gain or (loss) from sale of assets not on line 10 45,818,866
b Gross sales price for all assets on line 6a 176,797,250
7 Capital gain net income (from Part IV, line 2)... 45,413,432
8 Net short-term capital gain......... 741,779
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 160,671,922 71,188,038 161,800,327
12 Total. Add lines 1 through 11........ 231,332,628 129,006,317 174,946,953
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 523,305     523,305
14 Other employee salaries and wages...... 42,385,189     42,327,070
15 Pension plans, employee benefits....... 1,008,130     984,020
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......       26,297
c Other professional fees (attach schedule).... Click to see attachment 5,471     5,471
17 Interest............... 0     2,752
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,741,414 501,672    
19 Depreciation (attach schedule) and depletion... Click to see attachment 586,265   586,265
20 Occupancy.............. 3,518,915     3,537,134
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 51,449,825 11,883,833 2,864 39,504,672
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 102,218,514 12,385,505 589,129 86,910,721
25 Contributions, gifts, grants paid....... 68,942 68,942
26 Total expenses and disbursements. Add lines 24 and 25 102,287,456 12,385,505 589,129 86,979,663
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 129,045,172
b Net investment income (if negative, enter -0-) 116,620,812
c Adjusted net income (if negative, enter -0-)... 174,357,824
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............. 871,969 3,642,068 3,642,068
2 Savings and temporary cash investments......... 3,941,340 6,249,980 6,249,980
3 Accounts receivable bullet674,389
Less: allowance for doubtful accounts bullet   21,555,982 674,389 674,389
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.............. 23,360 30,028 30,028
9 Prepaid expenses and deferred charges.......... 162,210 103,896 103,896
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 295,862,027 Click to see attachment332,838,086 423,899,438
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 769,870,317 Click to see attachment870,424,071 937,765,680
14 Land, buildings, and equipment: basis bullet14,563,307
Less: accumulated depreciation (attach schedule) bullet8,103,475 6,522,119 6,459,832 6,459,832
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,098,809,324 1,220,422,350 1,378,825,311
Liabilities 17 Accounts payable and accrued expenses.......... 1,252,631 1,243,756
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 2,386,236  
22 Other liabilities (describe bullet) Click to see attachment24,197,743 Click to see attachment25,190,215
23 Total liabilities (add lines 17 through 22)......... 27,836,610 26,433,971
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.................. 1,070,972,714 1,193,988,379
25 Temporarily restricted...............    
26 Permanently restricted...............    
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)..... 1,070,972,714 1,193,988,379
31 Total liabilities and net assets/fund balances (see instructions). 1,098,809,324 1,220,422,350
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
1,070,972,714
2
Enter amount from Part I, line 27a .....................
2
129,045,172
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
1,200,017,886
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
6,029,507
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
1,193,988,379
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 PUBLICLY TRADED SECURITIES - SHORT TERM P    
b PUBLICLY TRADED SECURITIES - LONG TERM P    
c CAPITAL GAIN DISTRIBUTIONS P    
d GAIN ON SALE OF LOT 42 D    
e GAIN ON SALE OF 2006 FORD BUS D    
LOSS ON MISCELLANEOUS SALES D    
KKR P    
HFA SELECTS P    
OAK V P    
ORBIMED P    
STP OFFSHORE P    
CARLYLE CSP III TACTICAL DIST OVER BASIS P    
COMMON FUND MARKETABLE P    
CARLYLE STRATEGIC III (CAYMAN) LP P    
CF CAPITAL INTERNATIONAL PTRS VII LP P    
CF CAPITAL INTERNATIONAL PTRS VII LP P    
CF CAPITAL INTERN. PTRS VII LP - 1256 P    
CF CAPITAL NATURAL RCRS IX LP P    
CF CAPITAL NATURAL RCRS IX LP P    
CF CAPITAL NATURAL RCRS IX LP - 1231 P    
CF CAPITAL NATURAL RCRS IX LP - 1256 P    
CF CAPITAL PRIVATE EQUITY PTRS VIII LP P    
CF CAPITAL PRIVATE EQUITY PTRS VIII LP P    
CF CAP. PRIV. EQUITY PTRS VIII LP - 1231 P    
CF CAPITAL VENTURE PARTNERS IX LP P    
CF CAPITAL VENTURE PARTNERS IX LP P    
CF GLOBAL DISTRESSED INVESTORS LLC P    
CF GLOBAL DISTRESSED INVESTORS LLC P    
CF GLOBAL DISTRESSED INVSTRS. LLC - 1231 P    
CF STRATEGIC SOLUTIONS GLOBAL EQUITY LLC P    
CF STRATEGIC SOLUTIONS GLOBAL EQUITY LLC P    
CF STRATEGIC SOLUTIONS GLOBAL LLC - 1256 P    
CSP III TACTICAL ACQSTS. AIV (CAYMAN) LP P    
CUMMINGS FDN PRIVATE CAP. FUND, LP P    
CUMMINGS FDN PRIVATE CAP. FUND, LP P    
CUMMINGS FDN PRIVATE CAP. FUND, LP - 1231 P    
CUMMINGS FDN PRIV. CAP. FUND, LP - 1256 P    
PROVIDENCE EQUITY PARTNERS VII LP P    
CRESCENT MEZZANINE PARTNERS VIIB, L.P P    
CRESCENT MEZZANINE PARTNERS VIIB, L.P P    
COMMON FUND P    
CF MULTISTRATEGY GLOBAL P    
CF MULTISTRATEGY GLOBAL P    
(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 67,234,390   69,915,471 -2,681,081
b 78,648,675   60,107,218 18,541,457
c 11,716     11,716
d 6,070,224   70,491 5,999,733
e 4,775     4,775
    5,808 -5,808
1,857,390     1,857,390
1,490,656     1,490,656
    259,948 -259,948
1,055,210     1,055,210
1,106,481     1,106,481
325     325
1,388,088     1,388,088
50,472     50,472
754     754
107,650     107,650
2     2
45,395     45,395
    63,957 -63,957
222,163     222,163
    727 -727
    193 -193
171,145     171,145
10     10
3,255     3,255
266,047     266,047
    319 -319
121,365     121,365
4,714     4,714
3,197,956     3,197,956
2,930,035     2,930,035
929,653     929,653
    241,323 -241,323
187,933     187,933
2,382,661     2,382,661
759,555     759,555
    180 -180
4,633,059     4,633,059
283     283
112,882     112,882
1,433,651     1,433,651
    6,396 -6,396
    343,107 -343,107
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       -2,681,081
b       18,541,457
c       11,716
d       5,999,733
e       4,775
      -5,808
      1,857,390
      1,490,656
      -259,948
      1,055,210
      1,106,481
      325
      1,388,088
      50,472
      754
      107,650
      2
      45,395
      -63,957
      222,163
      -727
      -193
      171,145
      10
      3,255
      266,047
      -319
      121,365
      4,714
      3,197,956
      2,930,035
      929,653
      -241,323
      187,933
      2,382,661
      759,555
      -180
      4,633,059
      283
      112,882
      1,433,651
      -6,396
      -343,107
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 45,413,432
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 3 741,779
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 85,543,087 1,323,372,014 0.06464
2016 83,425,948 1,125,953,063 0.074094
2015 80,378,653 1,135,271,273 0.070801
2014 77,932,860 1,057,622,938 0.073687
2013 71,442,133 961,476,542 0.074305
2
Total of line 1, column (d) .....................
2
0.357527
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
0.071505
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
1,342,814,402
5
Multiply line 4 by line 3......................
5
96,017,944
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
1,166,208
7
Add lines 5 and 6........................
7
97,184,152
8
Enter qualifying distributions from Part XII, line 4,.............
8
87,643,363
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 2,332,416
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 2,332,416
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 2,332,416
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 2,075,000
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  
7 Total credits and payments. Add lines 6a through 6d.............. 7 2,175,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 1,404
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 158,820
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   RefundedBullet 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 list of attachments....................
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 changesClick to see list of attachments....
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.Click to see list of attachments
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
    Yes
     
    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 Click to see attachment.............
    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://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 —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
     
     
    .........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
    Joyce M Cummings TRUSTEE & TREASURER
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    Patricia A Cummings PSY D TRUSTEE & Vice President
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    William S Cummings TRUSTEE & PRESIDENT
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    Joseph Abate MD Trustee
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    Anthony P Monaco MD PHD Trustee
    1.0     		0 0 0
    Tufts University
    Medford,MA02155
    HON Margot Botsford Trustee
    1.0     		0 0 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    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
    TUFTS UNIVERSITY
    MEDFORD,MA02155
    Jason Z Morris PhD Trustee
    1.0     		0 0 0
    fordham university
    bronx,NY10458
    Marilyn Cummings Morris MD MPH 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
    Arlan F Fuller MD Trustee
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    LAURIE GABRIEL TRUSTEE
    1.0     		0 0 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    David Harris PHD Trustee
    1.0     		0 0 0
    200 West Cummings Park
    Woburn,MA01801
    JOEL B SWETS EXEC DIR, CUMMINGS FND
    50.0     		155,959 14,268 0
    200 West Cummings Park
    Woburn,MA01801
    CHRISTINE COAKLEY EXEC DIRECTOR, NHC
    50.0     		125,846 24,566 0
    200 West Cummings Park
    Woburn,MA01801
    ANDY EICK EXEC DIR NHM
    50.0     		154,890 21,376 26,400
    200 West Cummings Park
    Woburn,MA01801
    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
    SHANNON DEPIERRO ACCOUNT MANAGER
    50.0     		211,554 14,645 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    KARA MURPHY ACCOUNT MANAGER
    50.0     		142,976 14,230 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    MICHAEL DONAGHEY ELECTRICAL TL
    50.0     		137,437 24,741 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    MICHAEL DEPIERRO CARPENTRY TL
    50.0     		133,606 13,501 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    MARK LYNCH CARPENTER - LEAD
    50.0     		133,441 21,849 0
    200 WEST CUMMINGS PARK
    WOBURN,MA01801
    Total number of other employees paid over $50,000...................bullet  
    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
    COMMONFUND INVESTMENT SVCS 1,745,645
    15 OLD DANBURY ROAD
    WILTON,CT06897
    VNA CARE ADVANTAGE INC ASSISTED LIVING SVCS 1,740,262
    120 THOMAS STREET
    WORCESTER,MA01608
    MERRILL LYNCH TRUST CO INVESTMENT SVCS 1,686,249
    ONE FEDERAL STREET
    BOSTON,MA02134
    lahey health at home ASSISTED LIVING SVCS 678,900
    800 west cummings park s-5000
    WOBURN,MA01801
    Strategic Partners Fund Solutions INVESTMENT SVCS 475,000
    345 Park Avenue
    NEW YORK,NY10154
    Total number of others receiving over $50,000 for professional services.............bullet6
    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 - CUMMINGS SCHOOL OF VETERINARY MEDICINE 73,725,901
    2 SEE GENERAL EXPLANATION ATTACHMENT - NEW HORIZONS AT MARLBOROUGH 9,336,462
    3 SEE GENERAL EXPLANATION ATTACHMENT - NEW HORIZONS AT CHOATE 3,848,358
    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.........................bullet  
    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
    920,483,259
    b
    Average of monthly cash balances.......................
    1b
    2,448,591
    c
    Fair market value of all other assets (see instructions)................
    1c
    440,331,502
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,363,263,352
    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
    1,363,263,352
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    20,448,950
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,342,814,402
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    67,140,720
    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
     
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
     
    b
    Income tax for 2018. (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 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 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
    86,979,663
    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
    663,700
    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
    87,643,363
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    87,643,363
    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  
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$  
    a Applied to 2017, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2018.    
    (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 instructions ...........     		 
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		 
    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) .......     		 
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018....  
    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
    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) 2018 (b) 2017 (c) 2016 (d) 2015
    67,140,720 66,168,601 56,297,653 56,763,564 246,370,538
    b 85% of line 2a ......... 57,069,612 56,243,311 47,853,005 48,249,029 209,414,957
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		87,643,363 85,543,087 83,425,948 80,378,653 336,991,051
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		68,942 174,878 2,130,819 301,008 2,675,647
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		87,574,421 85,368,209 81,295,129 80,077,645 334,315,404
    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)    		         0
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		44,760,480 44,112,401 37,531,769 37,842,343 164,246,993
    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) ....     		        0
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		        0
    (3) Largest amount of support
    from an exempt organization    		         0
    (4) Gross investment income         0
    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).)
    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 or email address 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 (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
    AIDS ACTION COMMITTEE OF MA
    75 AMORY STREET
    BOSTON,MA02119     		None PC Community Healthcare Program 620
    ALZHEIMERS DISEASE AND RELATED Disorders Assc inc
    225 NORTH MICHIGAN AVE FLOOR 17
    CHICAGO,IL60601     		None PC Alzheimers Research 150
    AMERICAN DIABETES ASSOCIATON
    2451 CRYSTAL DR SUITE 900
    ARLINGTON,VA22202     		None PC Diabetes Research 50
    ASSABET VALLEY REGIONAL VOCATIONAL
    215 FITCHBURG STREET
    MARLBOROUGH,MA01752     		None PC Youth Education 1,250
    BOYS AND GIRLS CLUB OF METROWEST
    169 PLEASANT ST
    MARLBOROUGH,MA01752     		None PC Youth Extracurricular Activity 274
    BUDDY DOG HUMANE SOCIETY INC
    PO BOX 296
    SUDBURY,MA01776     		None PC Animal Welfare 1,000
    CITY OF MARLBOROUGH FIRE DEPARTMENT
    215 MAPLE STREET
    MARLBOROUGH,MA01752     		None PC Community Enrichment Programs 125
    DANA-FARBER CANCER INSTITUTE
    450 BROOKLINE AVENUE
    BOSTON,MA02115     		None PC Cancer Research Treatment 537
    FIRST BAPTIST CHURCH
    3 WINN STREET
    WOBURN,MA01801     		None PC Religious Program 200
    FRIENDS OF WINTER POND
    PO BOX 342
    WINCHESTER,MA01890     		None PC Conservation Programs 1,000
    KATHI GLAVIN HIGGINS SCHOLARSHIP
    223 BOSTON RD
    BILLERICA,MA01862     		None PC Educational Programming 800
    MARLBOROUGH HIGH SCHOOL
    431 BOLTON ST
    MARLBOROUGH,MA01752     		None PC Youth Extracurricular Activity 1,000
    MARLBOROUGH ROTARY CHARITABLE ENDOWMENT
    254 VEGA ROAD
    MARLBOROUGH,MA01752     		None PC Community Enrichment Programs 100
    MAYOR'S CHARITY RELIEF FUND
    PO BOX 615
    MARLBOROUGH,MA01752     		None PC Civic Fundraiser 5,000
    MEDFORD JINGLE BELL FESTIVAL
    74 HIGH STREET
    MEDFORD,MA02155     		None PC Community Healthcare Program 1,000
    MEDICAL MISSIONARIES OF MARY
    563 MINNEFORD AVE
    BRONX,NY10464     		None PC Religious Program 1,000
    MUSEUM OF FINE ARTS
    465 HUNTINGTON AVENUE
    BOSTON,MA02115     		None PC Cultural Arts Programming 2,500
    NESKAYA INC
    PO BOX 634
    FRANCONIA,NH03580     		None PC Cultural Arts Programming 250
    ONE MISSION INC
    PO BOX 600157
    NEWTON,MA02460     		None PC Cancer Research Treatment 500
    POP WARNER LITTLE SCHOLARS INC
    PO BOX 106
    BILLERICA,MA01821     		None PC Youth Extracurricular Activity 800
    ST CHARLES SCHOOL
    8 MYRTLE STREET
    WOBURN,MA01801     		None PC Youth Education 100
    ST CHARLES BORROMEO PARISH
    280 MAIN STREET
    WOBURN,MA01801     		None PC Community Welfare Program 5,000
    SUPPORTIVE LIVING INC
    400 WEST CUMMINGS PARK SUITE 6100
    WOBURN,MA01801     		None PC Brain Injury Residence 38,086
    UMASS MEMORIAL HEALTH CARE INC
    157 UNION STREET
    MARLBOROUGH,MA01752     		None PC Community Healthcare Program 3,000
    WINCHESTER FOUNDATION FOR EDUCATION
    PO BOX 1005
    WINCHESTER,MA01890     		None PC Educational Programming 1,000
    WINCHESTER MEALS ON WHEELS
    104 SKILLINGS ROAD
    WINCHESTER,MA01890     		None PC Community Welfare Program 1,000
    WINCHESTER SENIORS ASSOCIATION INC
    109 SKILLINGS ROAD
    WINCHESTER,MA01890     		None PC Elder Services 1,000
    WINCHESTER SPORTS FOUNDATION
    PO BOX 493
    WINCHESTER,MA01890     		None PC Youth Extracurricular Activity 1,000
    WOBURN PEEWEE FOOTBALL ASSOCIATION
    5 FRANK STREET
    WOBURN,MA01801     		None PC Youth Extracurricular Activity 200
    WOODS HOLE COMMUNITY ASSOCIATION
    PO BOX 327
    WOODS HOLE,MA02543     		None PC Community Enrichment Programs 400
    Total .................................bullet 3a 68,942
    bApproved for future payment
    Total .................................bullet 3b  
    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
    aSENIOR FACILITY REVENUE         18,906,545
    bHOME HEALTH CARE REVENUE         2,326,009
    cVET SCHOOL REVENUE         69,478,888
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 12,316,091  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 72,169  
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....     14 71,055,710  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		523000 405,689 18 45,413,177  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aVENDING INCOME     		    01 33,175  
    bFLOW-THROUGH PARTNERSHIP LOSSES 523000 -1,260,733      
    cLITIGATION SETTLEMENT INCOME     01 38,947  
    dMISCELLANEOUS INCOME     01 93,381  
    e
    12 Subtotal. Add columns (b), (d), and (e).. -855,044 129,022,650 90,711,442
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    218,879,048
    (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.)
    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 ENTERED INTO A LONG-TERM AGREEMENT WITH TUFTS UNIVERSITY IN 2004 TO OPERATE ITS VETERINARY SCHOOL THROUGH A SUBSIDIARY CALLED VETERINARY SCHOOL AT TUFTS, LLC. DURING THE TERM OF THE AGREEMENT, CUMMINGS FOUNDATION WILL CONTRIBUTE AT LEAST $50 MILLION TO SUPPORT THE RENAMED CUMMINGS SCHOOL OF VETERINARY MEDICINE. THE IRS ISSUED A PRIVATE LETTER RULING ON MAY 6, 2004, CONFIRMING THAT THE EXPENDITURES 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 (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)
    Yes
     
    (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
    1b(3) 0 HEM REALTY INC SEE ATTACHED
    1b(3) 0 NHC REALTY INC SEE ATTACHED
    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
    HEM REALTY INC 501(C)(2) A DIVISION OF CFI
    NHC REALTY INC 501(C)(2) A DIVISION OF CFI
    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
    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 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
    Cummings Foundation Inc
          		Employer identification number
    04-3073023
    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
    William S Cummings  
    200 West Cummings Park
     
    Woburn, MA01801

    		$ 4,100,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    Kevin Cummings  
    200 West Cummings Park
     
    Woburn, MA01801

    		$ 835,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    Patricia Cummings  
    200 West Cummings Park
     
    Woburn, MA01801

    		$ 800,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    BEVERLY COMMERCE PARK LLP  
    200 West Cummings Park
     
    Woburn, MA01801

    		$ 500,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    ANDERSON CLARKE LLP  
    200 West Cummings Park
     
    Woburn, MA01801

    		$ 6,200,000


    (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.)
    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
    Cummings Foundation Inc
          		Employer identification number

    04-3073023
    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
    4
    		 Elliott Landing Condo Suite 610 $ 500,000 2018-12-19
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    5
    		 Dunhmam Ridge Condo Unit 42 $ 6,200,000 2018-02-22
    (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
    Cummings Foundation Inc
          		Employer identification number

    04-3073023
    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:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES       26,297

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2018 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 2018 GeneralExplanationAttachment
    Name:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Identifier Return Reference Explanation
    SUMMARY OF DIRECT CHARITABLE ACTIVITIES SUMMARY OF DIRECT CHARITABLE ACTIVITIES FORM 990-PF, PART IX-A CUMMINGS SCHOOL OF VETERINARY MEDICINE - $73,725,901. CUMMINGS FOUNDATION ENTERED INTO A LONG-TERM AGREEMENT WITH TUFTS UNIVERSITY in 2004 TO OPERATE ITS VETERINARY SCHOOL THROUGH A SUBSIDIARY CALLED VETERINARY SCHOOL AT TUFTS, LLC. DURING THE TERM OF AGREEMENT, CUMMINGS FOUNDATION WILL CONTRIBUTE AT LEAST $50 MILLION TO SUPPORT THE RENAMED CUMMINGS SCHOOL OF VETERINARY MEDICINE. THE IRS ISSUED A LETTER RULING ON MAY 6, 2004, CONFIRMING THAT THE EXPENDITURES 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. NEW HORIZONS AT MARLBOROUGH - $9,336,462. ESTABLISHED IN 1993 AND ACCOMMODATES APPROXIMATELY 500 RESIDENTS AT ITS MARLBOROUGH, MASSACHUSETTS CAMPUS. THE FACILITy HAS 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. NEW HORIZONS AT CHOATE - $3,848,358. 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. THE FACILITy HAS 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 INSTITUTE FOR WORLD JUSTICE, LLC ("CIWJ") (EIN 80-0690363) - $0. THE PRINCIPAL PURPOSE OF CIWJ IS TO PROMOTE MORE SERIOUS STUDY OF THE HOLOCAUST, GENOCIDES, AND INJUSTICES OF ALL KINDS IN A CORE GROUP OF NEW ENGLAND SCHOOLS. CIWJ WAS ESTABLISHED TO SERVE AS AN ACTIVE COORDINATING ORGANIZATION THAT MAKES PROGRAMMING AVAILABLE TO PARTICIPATING SCHOOLS, AND ASSISTS EACH SUCH SCHOOL IN TAILORING A PROGRAM TO THAT SCHOOL'S PARTICULAR NEEDS. ORGANIZED AS A SINGLE-MEMBER LLC (AND DISREGARDED ENTITY OF CUMMINGS FOUNDATION, INC.) CIWJ HAD NO EXPENSES AND RECEIVED NO REVENUE IN 2018. THE IRS ISSUED A DETERMINATION LETTER ON DECEMBER 9, 2011, CONFIRMING CIWJ WAS LIKELY TO QUALIFY AS A PRIVATE OPERATING FOUNDATION DESCRIBED IN SECTION 4942(J)(3) OF THE INTERNAL REVENUE CODE.
    DESCRIPTION OF RENTAL OF FACILITIES DESCRIPTION OF RENTAL OF FACILITIES FORM 990-PF, PART XVII, LINE 1D REPORTING ORGANIZATION HAS A DIVISION CALLED NEW HORIZONS AT MARLBOROUGH, LLC (EIN: 75-3031923) ("NHM"). NHM IS LESSEE OF REAL PROPERTY FROM HEM REALTY, INC. (EIN: 30-0553220) ("HEM REALTY"), WHICH IT USES IN OPERATIONS. HEM REALTY IS A 501(C)(2) TITLE HOLDING COMPANY THAT IS RELATED TO REPORTING ORGANIZATION. BECAUSE HEM REALTY HOLDS TITLE FOR REPORTING ORGANIZATION, AND CONSISTENT WITH ITS PURPOSES WOULD TURN OVER ANY RENT IT COLLECTS TO REPORTING ORGANIZATION, HEM REALTY WAIVES PAYMENT OF RENT FROM REPORTING ORGANIZATION'S DIVISION, NHM. REPORTING ORGANIZATION HAS A DIVISION CALLED NEW HORIZONS AT CHOATE, LLC (EIN: 75-3031909) ("NHC"). NHC IS LESSEE OF REAL PROPERTY FROM NHC REALTY, INC. (EIN: 30-0553218) ("NHC REALTY"), WHICH IT USES IN OPERATIONS. NHC REALTY IS A 501 (C)(2) TITLE HOLDING COMPANY THAT IS RELATED TO REPORTING ORGANIZATION. BECAUSE NHC REALTY HOLDS TITLE FOR REPORTING ORGANIZATION, AND CONSISTENT WITH ITS PURPOSES WOULD TURN OVER ANY RENT IT COLLECTS TO REPORTING ORGANIZATION, NHC REALTY WAIVES PAYMENT OF RENT FROM REPORTING ORGANIZATION'S DIVISION, NHC.
    ATTACHMENT TO FORM 990-PF ATTACHMENT TO FORM 990-pf During taxable years 2012 2017, Cummings Foundation, Inc. transferred assets to OneWorld Boston, Inc. pursuant to a plan to transfer substantial assets of Cummings Foundation under 507(b)(2) for the creation of an endowment in support of OneWorld Boston. While Cummings Foundation, Inc. made no transfers to OneWorld Boston, Inc. during 2018, the below Expenditure Responsibility Statement is included with this 2018 information return of Cummings Foundation, Inc., pursuant to the requirements of IRC Regulation Secs. 53.4945-5(d)(1) and 53.4945-5(c)(2), which require Expenditure Responsibility Statements from the grantor for the taxable year in which a grant/transfer was made and the immediately succeeding two taxable years, when the grants/transfers were made for endowment purposes. Expenditure Responsibility Statement for the year 2018 Pursuant to IRC Regulation Sec. 53.4945-5(d)(2), Cummings Foundation, Inc. (Cummings Foundation) provides the following information: (i) Controlled Entity: OneWorld Boston, Inc. (OneWorld Boston) 200 West Cummings Park Woburn, MA 01801 (ii) Amount of Transfer: None in 2018 (iii) Purpose of Transfers: Prior years transfers being reported on here were made for endowment purposes in support of OneWorld Boston (EIN 80- 0681389), a grant-making private foundation qualified under IRC sec. 501 (c)(3), and a controlled entity of Cummings Foundation, within the meaning of IRC sec. 512(b)(13). (iv/vi) Reports: OneWorld Boston submitted a full and complete report of its expenditures in 2018 of amounts received from Cummings Foundation in prior years on September 20, 2019. The report reflected that $11,623,331 was expended on grants to public charities, $340,674.70 was expended on taxes on investment income (sec. 4940), $8,306.92 was expended on accounting services, and $16,851.54 was expended on miscellaneous expenses. (v) Diversions: To the knowledge of transferor Cummings Foundation no funds have been diverted to any activity other than the activity for which the transfer was originally made. (vii) Verification: Cummings Foundation has no reason to doubt the accuracy or the reliability of the report from OneWorld Boston; therefore, no independent verification of the report was made.

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ANSYS INC COM 843,552 1,465,135
    AAC TECHNOLOGIES HLDG 231,980 89,148
    ABB LTD SPON ADR 666,619 562,202
    ABBOTT LABS 89,205 95,114
    ABM INDUSTRIES INC COM 229,618 237,775
    ABN AMRO GROUP 337,274 257,788
    ACCENTURE PLC SHS 1,082,122 1,182,163
    ACUITY BRANDS INC 1,335,560 1,000,941
    ADAMAS PHARMACEUTICALS 163,621 89,183
    ADIDAS AG SPONSORED ADR 342,583 302,899
    ADOBE INC 162,441 178,277
    AFFILIATED MANAGERS GRP 841,016 533,756
    AIA GROUP LTD 1,893,674 2,091,387
    AIR LIQUIDE FN 164,462 174,556
    AIR PRODUCTS&CHEM 165,949 158,971
    AIRBUS SE 834,803 791,011
    ALIBABA GROUP HOLDING LT 1,000,287 930,979
    ALLERGAN PLC 264,894 200,785
    ALPHABET INC SHS CL A 1,130,432 5,224,800
    ALPHABET INC SHS CL C 1,881,522 5,899,870
    ALTRIA GROUP INC 265,058 187,361
    AMAZON COM INC COM 416,382 470,117
    AMBEV SA SHS ADR 204,443 132,338
    AMCOR LTD 164,484 129,816
    AMDOCS LIMITED 80,792 74,352
    AMER EAGLE OUTFITTERS 237,816 200,413
    AMERICA MOVIL SAB DE CV 2,180 1,680
    AMERICAN EQUITY INVT 137,696 146,883
    AMERICAN TOWER REIT INC 277,221 318,403
    AMGEN INC COM 3,109,178 3,455,393
    ANHEUSER-BUSCH INBEV ADR 814,126 656,072
    ANIXTER INTL INC 173,889 147,397
    AON PLC 1,037,753 1,165,431
    APPLE INC 4,731,699 13,877,177
    APPLIED INDUSTRL TECH 258,420 215,221
    APTARGROUP INC 1,112,511 1,714,678
    ARAMARK SHS 2,397,371 1,876,440
    ARCELIK AS UNSPN ADR 112,632 92,133
    ARLO TECH ORD 50,276 32,804
    ARMADA HOFFLER PPTYS INC 96,635 89,492
    ASAHI KASEI CORP 3407 294,603 248,893
    ASE TECHNOLOGY 224,308 172,376
    ASGN INC 132,734 106,548
    ASHTEAD GROUP PLC SHS 416,940 404,960
    ASM PACIFIC TECHNOL-UNSP 439,806 314,502
    ASML HLDG NV NY REG SHS 279,058 212,888
    ASML HOLDING N.V. ORD SH 681,984 596,132
    ASSA ABLOY AB ADR 346,090 442,657
    ASSA ABLOY AB SHS 593,310 498,040
    ASSOCIATED BRITISH FOOD 248,918 167,306
    ASTRAZENECA PLC SHS FN 1,069,829 1,169,475
    ATENTO S A 151,457 96,416
    ATN INTERNATIONAL INC 191,058 160,585
    AUTOMATIC DATA PROC 3,020,444 6,490,440
    BAIDU INC SPON ADR 429,729 409,029
    BALCHEM CORP COM 144,265 119,876
    BANCO DE CHILE ADR 239,145 266,248
    BANCOLOMBIA S.A SPDS ADR 266,471 257,082
    BAOZUN INC SHS CL A ADR 361,463 261,634
    BARNES GROUP INC DE $.01 248,035 232,979
    BAXTER INTERNTL INC 820,241 1,974,600
    BELDEN INC 185,982 149,954
    BERKSHIRE HATHAWAYINC 10,178,736 10,545,897
    BHP GROUP LTD 453,356 592,774
    BIO RAD LABS CL A 451,147 857,588
    BIO TECHNE CORP COM STK 576,434 791,227
    BLACKBAUD INC 602,550 1,259,720
    BNP PARIBAS 446,385 261,053
    BOEING COMPANY 322,706 313,738
    BOISE CASCADE CO DEL 184,526 140,715
    BOSTON SCIENTIFIC CORP 231,227 297,704
    BRENNTAG AG NAMEN-AKT. 319,822 236,972
    BRIGHTVIEW HLDGS INC 47,361 32,468
    BRITISH AMN TOBACO SPADR 564,003 305,952
    BROADCOM LTD 583,755 660,111
    BROADRIDGE FINL 488,024 839,701
    BROOKFIELD ASSET MGMT 272,870 255,066
    BROOKS AUTOMATION INC 203,994 171,086
    BRYN MAWR BK CORP COM 74,105 62,264
    CANADIAN NATL RAILWAY CO 623,639 673,179
    CANADIAN NATURAL RES LTD 328,098 284,082
    CARLISLE COS INC 979,717 1,553,078
    CARLSBERG AS SPONSOREDAD 254,850 294,600
    CARLSBERG AS-B 790,134 784,591
    CARRIZO OIL & GAS INC 200,189 120,295
    CASELLA WASTE SYS INC A 189,986 164,815
    CATALENT INC SHS 103,990 86,836
    CDK GLOBAL INC SHS 463,376 1,595,984
    CDW CORP 952,207 2,018,907
    CELGENE CORP COM 230,621 150,612
    CENTERSTATE BANK CORP 179,132 150,436
    CHANGYOU.COM LTD ADR 303,240 202,978
    CHEESECAKE FACTORY INC 213,206 193,184
    CHINA MERCHANTS BANK 231,456 209,315
    CHINA MOBILE LTD SPN ADR 490,388 472,730
    CHOICE HOTELS INTLNEW 812,641 776,357
    CHUBB LTD 528,926 472,482
    CHUNGHWA TELECOM CO LTD 247,679 266,761
    CHURCH&DWIGHT CO INC 652,973 1,336,988
    CHUYS HLDGS INC 119,183 86,660
    CIE FINANCIERE RICHEMONT 209,872 152,529
    CIE GENERALE DES 338,624 246,235
    CIGNA CORP 63 64
    CIGNA CORP REG SHS 305,956 322,864
    CITIGROUP INC COM NEW 664,801 498,813
    CITY HOLDING CO CHARLSTN 145,981 131,801
    CNOOC LTD ADR 376,866 435,971
    COEUR MINING INC 81,048 75,565
    COLUMBIA SPORTSWEAR CO 517,351 1,022,425
    COLUMBUS MCKINNON CP N.Y 195,281 158,838
    COMCAST CORP NEW CL A 3,100,784 9,622,493
    COMPASS GROUP PLC SHS 379,989 436,079
    CONMED CORP COM 205,529 193,049
    CONTINENTAL BUILDING 282,218 260,099
    COPART INC COM 349,767 1,047,911
    COSTAR GROUP INC COM 89,815 90,070
    COUSINS PROPS INC 113,543 105,860
    CREDICORP LTD COM PV $5 449,969 633,521
    CRYOLIFE INC 197,294 179,078
    D AND L INDUSTRIES INC 172,621 199,388
    DAIWA HOUSE IND LTD ADR 236,758 396,737
    DANAHER CORP DEL COM 300,516 355,452
    DANONE S.A 530,615 465,064
    DBS GROUP HLDGS SPN ADR 295,466 373,584
    DBS GROUP HOLDINGS LTD 422,253 330,007
    DE SAMMENSLUTTEDE VOGNMA 241,275 217,823
    DENSO CORP 6902 157,679 142,087
    DENTSPLY SIRONA INC 1,174,827 951,698
    DEUTSCHE BOERSE AG 191,697 171,241
    DIAGEO 495,553 543,746
    DNB NOR ASA 214,488 198,534
    DONALDSON CO INC 418,736 550,465
    DOWDUPONT INC COM 6,193,508 4,679,500
    DUKE ENERGY CORP NEW 545,527 546,437
    DXC TECHNOLOGY CO 224,383 157,850
    EASTGROUP PROPERTIES INC 254,313 241,525
    EATON CORP PLC 320,532 402,948
    EDWARDS LIFESCIENCES CRP 156,074 159,909
    EMCOR GROUP INC 301 241
    ENEL SPA 449,653 426,050
    ENERPLUS CORP SHS 133,106 110,308
    ENN ENERGY HOLDINGS LTD 228,995 210,312
    ENSCO PLC SHS CL A 191,061 100,548
    EOG RESOURCES INC 190,085 184,136
    EPAM SYSTEMS INC SHS 72,285 101,045
    EQUATORIAL ENRGA S A ADR 245,153 235,471
    EQUINOR ASA 134,205 168,746
    EROS INTL PLC SHS 324,905 270,793
    ESCO TECHNOLOGIES INC 168,436 178,395
    ESSENT GROUP LTD 284,113 250,129
    ESSILORLUXOTTICA 859,874 813,625
    EVERCORE INC 118,947 113,354
    EXLSERVICE HLDGS INC 273,390 222,056
    EXPERIAN PLC SP ADR 332,025 338,581
    FACEBOOK INC 1,893,883 8,594,523
    FACTSET RESH SYS INC 397,812 802,721
    FAIR ISAAC CORPORATION 338,566 1,157,156
    FCB FINL HOLDINGS INC 121,007 102,083
    FEDERAL SIGNAL CORP 189,539 170,444
    FEDEX CORP DELAWARE COM 3,479,744 5,323,890
    FERGUSON PLC 255,931 313,019
    FIDELITY NATL INFO SVCS 390,941 431,848
    FIRST BANCORP N C COM 123,276 108,595
    FIRST FINANCIAL BANCORP 206,086 183,593
    FIRST INDL REALTY TR INC 247,303 229,726
    FIRST INTST BANCSYSTEM 200,008 173,843
    FISERV INC WISC PV 1CT 322,391 359,734
    FIVE BELOW INC 248,252 224,183
    FLIR SYSTEMS INC 619,795 991,715
    FOMENTO ECNMCO MEX SPADR 293,052 306,411
    FRESENIUS MEDICAL CARE 387,002 315,576
    FRONTDOOR INC 521,968 484,515
    GARRETT MOTION INC 37,212 55,530
    GARTNER INC 673,591 1,041,640
    GDS HLDGS LTD ADR 400,081 389,805
    GEB LEV STEP UP ISS BARC 7,960,000 8,000,000
    GEB LIRN ISSUER HSBC 7,462,500 8,212,500
    GEELY AUTOMOBILE HLDG 178,025 106,251
    GENERAL MILLS 340,212 255,429
    GENL DYNAMICS CORP COM 3,029,947 7,467,475
    GENMAB A/S 389,635 337,684
    GENMAB A/S SHS 104,671 86,889
    GIVAUDAN SA UNSP ADR 224,394 244,729
    GLAXOSMITHKLINE PLC ADR 383,607 376,521
    GOLAR LNG LIMITED 452,370 364,393
    GOLDMAN SACHS GROUP INC 680,319 498,870
    GRACO INC 344,462 711,293
    GRANITE CONST INC DEL 174,651 149,842
    GREAT WESTN BANCORP INC 233,438 196,563
    GREENTREE HOSPITALITY 212,408 243,355
    GRIFOLS SA SHS-B-B 186,774 177,308
    GRUBHUB INC SHS 43,138 35,333
    GRUPO FIN BANORTE-SPON 274,276 240,786
    HAMILTON LANE INC REG SH 79,053 77,996
    HARRIS CORP DEL 213,117 173,295
    HAWAIIAN HLDGS INC 82,036 61,007
    HDFC BANK LTD ADR 990,619 1,360,725
    HEINEKEN N V ADR 207,798 201,119
    HERMES INTL S A 160,318 161,272
    HOME DEPOT INC 4,977,275 8,474,850
    HONEYWELL INTL INC DEL 3,867,720 6,398,037
    HOPE BANCORP INC SHS 115,387 94,263
    HOYA CORP 7741 363,247 390,815
    HUB GROUP INC CL A 67,887 54,493
    HUMANA INC 215,990 218,034
    HUNT J B TRANS SVCS INC 1,108,780 1,423,185
    HUTCHISON CHINA MEDITECH 175,799 119,791
    IBERDROLA SA, BILBAO 457,623 467,629
    ICICI BANK LTD SPD ADR 368,702 455,689
    ICON PLC 402,092 382,203
    IDEX CORP DELAWARE COM 447,580 958,187
    II-VI INC 182,265 158,567
    ILLINOIS TOOL WORKS INC 271,651 243,001
    IMPERIAL BRANDS PLC 485,303 371,152
    INDEPENDENT BK CORP MASS 171,292 150,463
    INDEPENDENT BK GROUP INC 179,536 139,599
    INDUSTRIA DE DISENO 274,107 226,670
    INDUSTRL AND COMMRCL BNK 514,222 512,833
    INFORMA PLC SHS ADR 137,899 170,833
    INFOSYS TECH LTD ADR 288,138 374,059
    ING GP NV SPSD ADR 290,191 260,381
    INGERSOLL-RAND PLC 361,687 369,997
    INTEL CORP 5,330,939 7,133,360
    INTERCONTINENTAL 339,066 340,308
    INTERCONTINENTAL HOTELS 286,532 238,568
    INTERXION HOLDING N.V 565,632 517,553
    INTESA SANPAOLO SPON ADR 253,206 243,860
    INTL BKT SUN ISS RBC 10,000,000 8,630,000
    INTUIT INC COM 153,443 143,701
    INTUITIVE SURGICAL INC 215,279 238,023
    ISHARES MICRO-CAP ETF 7,860,480 6,060,075
    ITAU UNIBANCO BANCO HOLD 294,997 374,903
    J & J SNACK FOODS CRP 227,683 208,210
    J2 GLOBAL INC 233,229 222,016
    JACK HENRY & ASSOC INC 369,754 862,406
    JACK IN THE BOX INC 212,073 208,048
    JARDINE MATHESON HLDGS 627,071 721,614
    JARDINE STRATGIC UNSP AD 331,438 328,480
    JOHNSON AND JOHNSON COM 828,973 801,035
    JOHNSON CONTROLS INTER 433,007 342,986
    JONES LANG LASALLE INC 903,557 879,796
    JPMORGAN CHASE & CO 3,646,226 7,762,273
    KADANT INC 250,896 204,872
    KAISER ALUM CORP 213,569 200,456
    KAO CORP SHS ADR 216,473 236,389
    KASIKORNBANK PCL-UNSPON 430,070 376,843
    KBC GROUP NV 296,009 221,335
    KEANE GROUP INC REG SHS 141,151 91,207
    KERING 412,471 460,639
    KERING S A 202,299 208,247
    KEYENCE CORP 6861 FN 1,061,694 955,614
    KEYW HLDG CORP 31,492 26,827
    KFORCE INC COM 68,592 67,096
    KIMBERLY CLARK 334,670 346,738
    KIRBY CORP COM 1,356,213 1,394,217
    KITE REALTY GROUP TR SHS 286,044 211,931
    KLX ENERGY SERVICES 26,007 21,457
    KNIGHT-SWIFT 128,303 111,436
    KOC HLDG AS-UNSPON 108,891 100,452
    KOMATSU NEW NEW SPNSDADR 290,784 263,644
    KONINKLIJKE KPN NV FN 218,176 192,660
    KORNIT DIGITAL LTD 318,272 321,909
    KUBOTA LTD 6326 151,964 131,477
    L OREAL 616,926 659,415
    L.V.M.H. EUR 0.3 516,686 535,422
    LANDSTAR SYS INCN COM 760,029 1,108,367
    LEAR CORP SHS 201,385 180,973
    LENDINGTREE INC 103,035 108,687
    LENNOX INTL INC 1,421,547 1,777,149
    LIGAND PHARMACEUTICALS 227,516 193,915
    LIVE NATION ENT INC 72,481 82,346
    LOCALIZA RENT A CAR SA 186,847 204,930
    LOCKHEED MARTIN CORP 349,657 280,165
    LONDON STK EXCHANGE 170,146 159,257
    LONDON STK EXCHANGE GROUP 744,555 659,190
    MACK CALI REALTY CORP 218,912 208,927
    MACOM TECHNOLOGY 22,178 22,781
    MAKEMYTRIP LIMITED 232,414 246,998
    MAKITA CORP SPOND ADR 313,006 360,684
    MALIBU BOATS INC SHS 186,303 160,080
    MANHATTAN ASSOCS INC 1,412,502 1,345,883
    MANULIFE FINANCIAL CORP 302,815 271,909
    MARKEL CORP COM 727,231 1,419,014
    MASTEC INC FLA 121,905 112,757
    MASTERCARD INC 492,384 561,200
    MAXLINEAR INC CL A 233,700 215,336
    MCDONALDS CORP COM 2,299,208 7,395,791
    MCKESSON CORPORATION COM 280,822 190,397
    MEDICINES CO DEL COM 167,198 140,220
    MEDTRONIC PLC SHS 1,085,307 1,183,603
    MERCADOLIBRE INC 208,629 217,433
    MERCK AND CO INC SHS 222,762 245,859
    MERIT MEDICAL SYS INC 257,650 252,094
    METLIFE INC COM 193,098 163,823
    MGIC INVT CORP WIS 277,685 232,421
    MICROSOFT CORP 567,459 623,962
    MINERALS TECHNOLOGIES 225,389 165,371
    MOMO ADR 157,972 137,465
    MONDELEZ INTERNATIONAL 4,000,532 8,006,000
    MOODY'S CORP 102,731 89,205
    MORNINGSTAR INC 486,109 728,042
    MURATA MFG CO 6981 437,266 450,905
    MYR GROUP INC DEL 176,718 148,174
    NASDAQ OMX GRP INC 239,337 260,023
    NASPERS LTD SHS CL N ADR 547,561 623,698
    NATERA INC SHS 165,590 104,337
    NAVIGANT CONSULTING INC 143,132 158,730
    NEENAH INC 264,285 192,374
    NESTLE S A REP RG SH ADR 426,917 411,167
    NESTLE SA CHAM UND VEVE 735,429 744,734
    NETEASE.COM INC ADR 321,496 390,377
    NETFLIX COM INC 185,899 163,540
    NETGEAR INC 143,668 139,544
    NEXSTAR MEDIA GROUP INC 55,090 58,194
    NIDEC CORP 6594 355,940 325,874
    NIDEC CORPORATION ADR 161,164 140,699
    NIKE INC CL B 153,060 172,638
    NINTENDO LTD ADR 528,555 448,671
    NOAH HOLDINGS LTD 144,761 165,916
    NORDEA BANK ABP SHS ADR 403,699 300,751
    NORDSON CORP 1,035,825 946,597
    NORTHROP GRUMMAN CORP 300,929 274,555
    NORTHWESTERN CORP 338,291 338,808
    NOVARTIS ADR 600,424 760,344
    NOVARTIS AG REG CHF0.5 272,924 272,716
    NOVO NORDISK A/S SHS 1,081,343 1,017,147
    NTT DOCOMO INC 343,437 358,947
    NUVASIVE INC 170,855 151,158
    NVIDIA 257,166 152,126
    OLD NATL BANCORP IND 207,139 176,715
    OPEN TEXT CORP COM 460,277 444,599
    ORACLE CORP $0.01 DEL 3,227,803 5,418,000
    PAGSEGURO DIGITAL LTD 317,064 185,240
    PATTERSON UTI ENERGY INC 106,037 82,231
    PAYCOM SOFTWARE INC 54,591 54,490
    PAYPAL HOLDINGS INC SHS 228,007 227,379
    PEBBLEBROOK HOTEL TRUST 177,691 147,920
    PERNOD RICARD 785,650 909,328
    PFIZER INC 502,307 619,733
    PHILIP MORRIS INTL INC 895,150 560,383
    PHYSICIANS RLTY TR 86,193 82,555
    PING AN INS GROUP CO 840,191 820,252
    PIONEER ENERGY SERVICES 68,968 28,278
    PJSC LUKOIL SPONSORED 318,663 489,979
    PLANTRONICS INC NEW COM 134,077 81,857
    PNC FINCL SERVICES GROUP 465,901 423,210
    POOL CORPORATION 529,033 488,910
    PPG INDUSTRIES INC SHS 589,972 573,406
    PRESTIGE CONSUMER 191,005 187,411
    PRIMERICA INC COM 199,830 175,487
    PROOFPOINT INC 49,351 45,676
    PROSPERITY BANCSHARES 862,007 791,397
    PRUDENTIAL PLC 504,258 388,685
    PRUDENTIAL PLC ADR 1,004,635 982,531
    PT BANK CENT ASIA TBK 182,759 229,138
    PUMA BIOTECH INC 105,324 56,471
    Q2 HOLDINGS INC SHS 248,555 233,579
    QUAKER CHEMICAL CORP 240,283 236,354
    QUIDEL CORP 239,535 180,390
    RANDGOLD RESOURCES ADR 277,206 251,799
    RAPID7 ORD 95,562 102,579
    RECKITT BENCKISER GROUP 170,459 147,573
    RED ELECTRICA CORP UNSPN 376,091 453,408
    RELX PLC 612,046 619,972
    REPLIGEN CORP COM 243,115 234,429
    RESIDEO TECHNOLOGIES INC 101,911 154,125
    RETROPHIN INC 225,722 202,629
    RIO TINTO PLC SPNSRD ADR 218,599 207,296
    ROCHE HLDG LTD SPN ADR 216,247 211,468
    ROGERS COMMUNICATIONS B 394,546 396,181
    ROYAL DUTCH SHEL PLC 552,489 454,419
    ROYAL DUTCH SHELL PLC 726,792 726,207
    RPM INTERNATIONAL INC 798,359 945,877
    RPT RLTY SH BEN INT 258,517 234,889
    RYANAIR HOLDINGS PLC SHS 476,045 392,941
    RYOHIN KEIKAKU 7453 173,351 132,368
    RYOHIN KEIKAKU CO LTD 297,426 435,345
    SAFRAN SA 926,658 1,149,093
    SAFRAN SA-UNSPON ADR 466,510 511,059
    SALESFORCE COM INC 981,886 8,686,911
    SALLY BEAUTY HLDGS INC 989,630 1,002,966
    SAMPO OYJ 678,264 589,337
    SAMPO PLC SHS 356,518 435,004
    SAMSONITE INTL SA 242,405 180,420
    SAP SE 788,357 743,049
    SAP SE SHS 830,888 857,979
    SASOL LTD SPONSORED ADR 327,237 306,977
    SBERBANK SPONSORED ADR 183,113 138,565
    SCHEIN (HENRY) INC COM 2,055,004 2,212,929
    SCHLUMBERGER LTD 454,329 261,321
    SCHWAB CHARLES CORP NEW 274,326 206,792
    SEI INVT CO PA PV $0.01 916,011 1,297,989
    SELECTIVE INS GRP INC 238,166 217,739
    SEMTECH CORPORATION 211,642 215,360
    SENSIENT TECHNOLGY CORP 874,502 719,013
    SERVICE CORP INTL 481,959 476,620
    SERVICEMASTER GLOBAL 1,725,603 1,888,840
    SHERWIN WILLIAMS 242,137 222,008
    SHIN ETSU CHEMICAL 4063 284,784 231,070
    SHINHAN FINL GRP SP ADR 413,640 330,873
    SHOPRITE HOLDINGS LTD 282,431 217,020
    SILICON LABS INC 154,332 149,345
    SINOPHARM GROUP CO. LTD 233,133 217,837
    SK TELECOM ADR 468,571 546,854
    SMC CORP 6273 784,739 677,432
    SOCIETE GENERALE A SH 269,518 204,203
    SOFTBANK GROUP CORP 980,906 866,115
    SONOVA HOLD AG UNSPOND 154,492 125,547
    SONOVA HOLDING AG 175,775 188,328
    SONY CORP ADR NEW 544,578 485,697
    SOUTH JERSEY IND 247,317 209,423
    SOUTHERN COPPER CORP 276,399 232,786
    SPARK THERAPEUTICS INC 100,774 88,417
    SPECTRUM PHARMACEUTICALS 106,932 87,964
    SPIRE INC 267,433 283,117
    SRC ENERGY INC 10,633 6,843
    SSE PLC 164,240 120,591
    STARBUCKS CORP 3,014,342 8,123,849
    STATE STREET CORP 449,141 385,837
    STERLING BANCORP 156,210 141,561
    STEVEN MADDEN LTD SHS 295,132 283,990
    STIFEL FINANCIAL CORP 187,058 166,923
    SUMITOMO MITSUI-UNSPONS 394,559 389,244
    SUNCOR ENERGY INC NEW 420,338 355,414
    SUNNY OPTICAL TECH-UNSP 470,878 272,609
    SUPERNUS PHARMACEUTICALS 109,899 76,240
    SVENSKA HANDELSBANKEN AB 384,239 348,876
    SX5E LIRN ISSUER RBC 5,970,000 5,850,000
    SX5E STEPUP ISSUER BNS 15,422,500 12,139,000
    SYNNEX CORP 37,972 36,216
    TABULA RASA HEALTHCARE 69,747 62,230
    TAIWAN S MANUFCTRING ADR 1,345,330 1,958,937
    TAKEDA PHARMACEUTICAL 386,779 313,693
    TATA MOTORS LTD ADR 317,641 206,402
    TE CONNECTIVITY LTD 150,076 113,195
    TELEFLEX INC 1,816,931 3,108,690
    TELEKOMUNIKASI INDONESIA 273,900 244,772
    TELENOR ASA ADR 368,856 355,315
    TENCENT HOLDINGS LTD ADR 1,479,023 1,844,232
    TENNECO INC DEL 163,168 129,555
    TETRA TECH INC NEW 237,109 184,042
    TEXAS INSTRUMENTS 762,193 738,548
    THERMO FISHER SCIENTIFIC 1,352,896 5,855,310
    SA 233,035 213,168
    TOWER SEMICONDUCTOR 426,242 398,629
    TRANSUNION 1,426,022 2,273,589
    TRAVELERS COS INC 370,179 364,036
    TRIMBLE INC 563,129 619,926
    U S SILICA HLDGS INC 61,401 45,097
    UBISOFT ENTERTAINMENT 482,042 445,160
    ULTRAGENYX 97,783 84,873
    ULTRAPAR PARTICPAC SPADR 253,132 291,882
    UMPQUA HLDGS CORP ORE 788,726 824,620
    UNI CHARM CO LTD 8113 FN 279,318 327,240
    UNILEVER NV NY REG SHS 572,638 649,558
    UNILEVER PLC NEW ADR 316,318 404,885
    UNION PACIFIC CORP 1,925,241 7,143,575
    UNITED TECHS CORP COM 5,635,016 6,239,728
    US BANCORP 567,203 475,411
    US ECOLOGY INC 162,430 145,799
    VALLEY NATL BANCORP NJ 196,614 172,272
    VANDA PHARMACEUTICALS IN 182,514 253,592
    VANGUARD FTSE EMERGING 17,904,645 15,729,342
    VARIAN MEDICAL SYS INC 378,496 622,412
    VINCI SA ADR 654,012 696,581
    VIPSHOP HLDGS LTD 328,890 169,861
    VIVENDI SHS UNSP ADR 443,040 415,114
    VOLKSWAGEN AG-UNSP 431,307 386,488
    VULCAN MATERIALS CO 137,885 109,576
    W R BERKLEY CORP 2,766,820 2,887,675
    WAGEWORKS INC 94,756 65,320
    WAL-MART DE MEX SPNADR V 322,354 339,546
    WALMART INC 2,746,673 5,076,675
    WEIBO CORP ADR 103,681 108,680
    WELLS FARGO & CO NEW DEL 610,996 534,159
    WESTAMERICA BANCORP 473,938 598,354
    WEX INC 913,261 1,266,703
    WIRECARD AG - 62,006 60,893
    WNS HOLDINGS LTD SPN ADR 246,906 203,206
    WOLTERS KLUWR NV SPN ADR 249,497 465,690
    WOODWARD INC 92,040 92,491
    WORTHINGTON INDSTRS OHIO 200,197 166,709
    WRIGHT MEDICAL GROUP NV 241,491 241,169
    WSFS FINANCIAL CORP 223,572 185,754
    WYNN MACAU LTD SHS 263,906 199,695
    XCEL ENERGY INC 372,504 368,803
    YANDEX N V CL A 351,857 303,147
    YELP INC CL A 162,354 131,562
    ZOETIS INC 149,775 167,884
    ZTO EXPRESS CAYMAN ADR 257,354 252,398

    TY 2018 InvestmentsOtherSchedule2
    Name:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    PROPERTY 1   4,000,000 4,000,000
    PROPERTY 2   6,600,000 6,600,000
    PROPERTY 3   2,250,000 2,250,000
    PROPERTY 4   3,700,000 3,700,000
    PROPERTY 5   14,400,000 14,400,000
    PROPERTY 6   7,409,869 7,409,869
    PROPERTY 7   5,000,000 5,000,000
    PROPERTY 8   4,200,000 4,200,000
    PROPERTY 9   4,200,000 4,200,000
    PROPERTY 10   460,000 460,000
    PROPERTY 11   2,300,000 2,300,000
    PROPERTY 12   15,600,000 15,600,000
    PROPERTY 13   17,000,000 17,000,000
    PROPERTY 14   9,600,000 9,600,000
    PROPERTY 15   13,900,000 13,900,000
    PROPERTY 16   3,900,000 3,900,000
    PROPERTY 17   2,800,000 2,800,000
    PROPERTY 18   5,800,000 5,800,000
    PROPERTY 19   43,600,000 43,600,000
    PROPERTY 20   9,500,000 9,500,000
    PROPERTY 21   1,500,000 1,500,000
    PROPERTY 22   3,000,000 3,000,000
    PROPERTY 23   6,100,000 6,100,000
    PROPERTY 24   4,700,000 4,700,000
    PROPERTY 25   2,700,000 2,700,000
    PROPERTY 26   5,100,000 5,100,000
    PROPERTY 27   2,100,000 2,100,000
    PROPERTY 28   10,000,000 10,000,000
    PROPERTY 29   17,600,000 17,600,000
    PROPERTY 30   13,500,000 13,500,000
    PROPERTY 31   5,400,000 5,400,000
    PROPERTY 32   13,100,000 13,100,000
    PROPERTY 33   12,600,000 12,600,000
    PROPERTY 34   7,500,000 7,500,000
    PROPERTY 35   15,600,000 15,600,000
    PROPERTY 36   3,600,000 3,600,000
    PROPERTY 37   7,000,000 7,000,000
    PROPERTY 38   12,700,000 12,700,000
    PROPERTY 39   3,600,000 3,600,000
    PROPERTY 40   17,900,000 17,900,000
    PROPERTY 41   18,600,000 18,600,000
    PROPERTY 43   351,800 351,800
    PROPERTY 44   3,300,000 3,300,000
    PROPERTY 45   2,100,000 2,100,000
    PROPERTY 46   4,800,000 4,800,000
    PROPERTY 47   3,300,000 3,300,000
    PROPERTY 48   3,500,000 3,500,000
    PROPERTY 49   4,500,000 4,500,000
    PROPERTY 50   3,700,000 3,700,000
    PROPERTY 51   4,900,000 4,900,000
    PROPERTY 52   7,200,000 7,200,000
    PROPERTY 53   6,700,000 6,700,000
    PROPERTY 54   8,300,000 8,300,000
    PROPERTY 55   18,200,000 18,200,000
    PROPERTY 56   2,400,000 2,400,000
    PROPERTY 57   500,000 500,000
    COMMONFUND   305,477,966 349,129,010
    PROVIDENCE EQUITY PARTNERS VII   13,969,260 22,611,296
    CARLYLE GROUP   4,121,649 4,228,190
    BLACKSTONE ALTERNATIVES   6,515,248 7,459,339
    KKR   27,019,557 26,655,392
    SJC ONSHORE   23,662,607 23,436,664
    STRATEGIC PARTNERS OFFSHORE   26,494,674 36,396,441
    CRESCENT MEZZANINE PTRS   5,617,621 5,270,976
    COURTAGEN LIFE   183,388 27,508
    HIGHLAND PTRS   563,446 521,917
    CLAREANT SCF   7,378,019 7,615,420
    SLP V TECHNOLOGY   5,073,914 4,618,633
    CARLYLE BUYOUT VII   700,107 304,871
    OAK V DISTRESSED   1,335,603 2,110,557
    ORBIMED HEALTHCARE   8,439,343 13,507,797

    TY 2018 OtherDecreasesSchedule
    Name:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Description Amount
    UNREALIZED LOSSES ON PROPERTY 6,029,507


    TY 2018 OtherExpensesSchedule
    Name:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    VET MATERIALS, SUPPLIES & SRVC 34,321,471     34,317,460
    INVESTMENT EXPENSE 11,883,833 11,883,833    
    CONTRACT SERVICES 2,404,018     2,599,882
    SUPPLIES 1,618,494     1,619,119
    REPAIR & MAINTENANCE 481,352   1,944 459,850
    PROGRAM ACTIVITIES 162,208     -18,153
    SALES EXPENSES 155,543     158,799
    INSURANCE 107,834   920 70,230
    TELEPHONE 90,258     91,211
    ADVERTISING 95,178     74,757
    CHAPEL SERVICES 28,404     28,404
    ADP PAYROLL FEES 11,957     11,957
    LICENSES & FEES 10,540     11,998
    DUES & SUBSCRIPTIONS 10,155     10,155
    OFFICE SERVICES 6,801     6,750
    STAFF UNIFORMS 727     727
    MISCELLANEOUS EXPENSES 61,052     61,526


    TY 2018 OtherIncomeSchedule2
    Name:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    VETERINARY SCHOOL INCOME 69,478,888   69,478,888
    INVESTMENT INCOME - DISREGARDED ENTITY 64,042,308 64,042,308 64,042,308
    PROGRAM SERVICE REVENUE 18,906,545   18,906,545
    other partnership income - K-1 5,827,127 5,827,127 5,827,127
    VET SCHOOL CONTRACT REVENUE 2,326,009   2,326,009
    INVESTMENT INCOME - ALTERNATIVE INVEST 1,186,275 1,186,275 1,186,275
    LITIGATION SETTLEMENT INCOME 38,947 38,947  
    VENDING INCOME 33,175   33,175
    BOOK SALES INCOME 93,381 93,381  
    UNRELATED BUSINESS INCOME FROM K-1'S -1,260,733    


    TY 2018 OtherLiabilitiesSchedule
    Name:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Description Beginning of Year - Book Value End of Year - Book Value
    DEPOSITS & PREPAYMENTS 24,197,743 25,190,215


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL FEES 5,471     5,471


    TY 2018 TaxesSchedule
    Name:
    Cummings Foundation Inc
    EIN:
    04-3073023
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL TAXES PAID 2,237,742      
    STATE TAXES PAID 2,000      
    FOREIGN TAXES PAID 501,672 501,672    


    TY 2018 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 2018 0
    HEM REALTY INC 200 WEST CUMMINGS PARK
    WOBURN,MA01801     		30-0553220 No transfers were made in 2018 0
    OneWorld Boston Inc 200 West Cummings Park
    Woburn,MA01801     		80-0681389 No transfers were made in 2018 0
    Total