Form990-PF

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 JOSETTA FUND
 
Number and street (or P.O. box number if mail is not delivered to street address)BURNSLEV 125 SUMMER ST
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BOSTON, MA021101624
A Employer identification number

04-3340006
B Telephone number (see instructions)

(617) 345-3898
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$42,855,214J 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) 560,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 17,444 17,444  
4 Dividends and interest from securities... 951,199 937,398  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,971,072
b Gross sales price for all assets on line 6a 24,124,710
7 Capital gain net income (from Part IV, line 2)... 3,011,610
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).......      
12 Total. Add lines 1 through 11........ 4,499,715 3,966,452  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 181,621 0   181,621
b Accounting fees (attach schedule)....... Click to see attachment 6,700 0   6,700
c Other professional fees (attach schedule).... Click to see attachment 357,426 357,426   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 48,292 9,669   500
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 864 129   750
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 594,903 367,224   189,571
25 Contributions, gifts, grants paid....... 3,219,903 3,219,903
26 Total expenses and disbursements. Add lines 24 and 25 3,814,806 367,224   3,409,474
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 684,909
b Net investment income (if negative, enter -0-) 3,599,228
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......... 1,883,409 1,951,700 1,951,700
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) 460,683 Click to see attachment1,162,802 1,189,924
b Investments—corporate stock (attach schedule)....... 29,886,008 Click to see attachment30,619,449 33,783,445
c Investments—corporate bonds (attach schedule)....... 6,814,421 Click to see attachment5,997,275 5,930,145
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 39,044,521 39,731,226 42,855,214
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)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
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...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 39,044,521 39,731,226
30 Total net assets or fund balances (see instructions)..... 39,044,521 39,731,226
31 Total liabilities and net assets/fund balances (see instructions). 39,044,521 39,731,226
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
39,044,521
2
Enter amount from Part I, line 27a .....................
2
684,909
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
2,600
4
Add lines 1, 2, and 3 ..........................
4
39,732,030
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
804
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
39,731,226
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 P    
b
c
d
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 24,124,710   21,113,100 3,011,610
b
c
d
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       3,011,610
b
c
d
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 3,011,610
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 3,970,598 45,672,683 0.086936
2016 4,314,883 45,143,428 0.095582
2015 3,106,840 46,804,534 0.066379
2014 2,780,234 48,214,693 0.057664
2013 1,849,552 43,494,768 0.042524
2
Total of line 1, column (d) .....................
2
0.349085
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
0.069817
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
46,030,207
5
Multiply line 4 by line 3......................
5
3,213,691
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
35,992
7
Add lines 5 and 6........................
7
3,249,683
8
Enter qualifying distributions from Part XII, line 4,.............
8
3,409,474
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 35,992
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 35,992
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 35,992
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 52,000
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 52,000
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 16,008
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet16,008 RefundedBullet 11 0
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
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
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
     
    No
    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 addressbulletN/A
    14
    The books are in care ofbulletMARK A NOWAK CO BURNS LEVINSON Telephone no.bullet (617) 345-3898

    Located atbullet125 SUMMER STREETBOSTONMA ZIP+4bullet021101624
    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
     
     
    ........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
     
     
    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
    MARTHA R GERRY TOWNLEY TRUSTEE
    1.00     		0 0 0
    C/O MARK A NOWAK 125 SUMMER STREET
    BOSTON,MA021101624
    F BRADFORD TOWNLEY TRUSTEE
    1.00     		0 0 0
    C/O MARK A NOWAK 125 SUMMER STREET
    BOSTON,MA021101624
    MARK A NOWAK TRUSTEE
    10.00     		0 0 0
    C/O MARK A NOWAK 125 SUMMER STREET
    BOSTON,MA021101624
    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
    NONE
    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
    BURNS & LEVINSON LLP LEGAL EXPENSES 181,621
    125 SUMMER STREET
    BOSTON,MA021101624
    B&L ASSET MANAGEMENT LLC ASSET MANAGEMENT FEES 117,188
    125 SUMMER STREET
    BOSTON,MA021101624
    LEE MUNDER CAPITAL GROUP LLC ASSET MANAGEMENT FEES 102,070
    200 CLARENDON STREET
    BOSTON,MA021165049
    CROW POINT PARTNERS LLC ASSET MANAGEMENT FEES 101,935
    25 RECREATION PARK DRIVE
    HINGHAM,MA020434256
    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
    44,181,017
    b
    Average of monthly cash balances.......................
    1b
    2,550,158
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    46,731,175
    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
    46,731,175
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    700,968
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    46,030,207
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,301,510
    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
    2,301,510
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    35,992
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    35,992
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,265,518
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,265,518
    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
    2,265,518
    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
    3,409,474
    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
     
    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
    3,409,474
    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
    35,992
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,373,482
    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 2,265,518
    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......  
    b From 2014...... 419,907
    c From 2015...... 819,880
    d From 2016...... 2,085,420
    e From 2017...... 1,758,448
    fTotal of lines 3a through e........ 5,083,655
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 3,409,474
    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..... 2,265,518
    e Remaining amount distributed out of corpus 1,143,956
    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 6,227,611
    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) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		6,227,611
    10 Analysis of line 9:
    a Excess from 2014.... 419,907
    b Excess from 2015.... 819,880
    c Excess from 2016.... 2,085,420
    d Excess from 2017.... 1,758,448
    e Excess from 2018.... 1,143,956
    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).)
    MARTHA R GERRY TOWNLEY
    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
    ALEXANDER HAMILTON INST FOR THE STUDY OF WESTERN CIVILIZATION
    21 WEST PARK ROW
    CLINTON,NY13323     		NONE PC EDUCATION 50,000
    ALPHA PREGNANCY
    518 CLINTON AVENUE
    ALBANY,NY12206     		NONE PC PREGNANCY CARE AND COUNSELING 154,011
    ANACOSTIA RIVER CHURCH
    PO BOX 10314
    WASHINGTON,DC20020     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    ARMENIAN CHURCH OF THE MARTYRS
    22 ORMOND STREET
    WORCESTER,MA01609     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    BENGALI EVANGICAL ASSOC
    BOX 1733
    LOMA LINDA,CA92354     		NONE PC RELIGIOUS AND SPIRITUAL 30,000
    BRIDGEWATER STATE COLLEGE CHRISTIAN FELLOWSHIP
    29 SHAW ROAD
    BRIDGEWATER,MA02324     		NONE PC RELIGIOUS AND SPIRITUAL EDUCATION 10,000
    BRONX HOUSEHOLD OF FAITH
    2206 ANDREWS AVENUE N
    BRONX,NY10453     		NONE PC CHRISTIAN EDUCATION 90,000
    CALIFORNIA THOROUGHBRED HORSEMEN'S FOUND INC
    PO BOX 660129
    ARCADIA,CA91066     		NONE PC RELIEF TO VICTIMS OF THE SAN LUIS REY DOWNS FIRE 40,000
    CALVARY BAPTIST CHURCH
    286 ASHMONT STREET
    DORCHESTER,MA02124     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    CHILDREN'S ROOM
    1210 MASS AVENUE
    ARLINGTON,MA02476     		NONE PC SUPPORT FOR GRIEVING FAMILIES 15,000
    CLIFTON PARK COMMUNITY CHURCH
    516 MOE ROAD
    CLIFTON PARK,NY12065     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    COMBONI MISSIONARIES
    MISSION OFFICE 1318 NAGEL RD
    CINCINNATI,OH45255     		NONE PC RELIGIOUS & SPIRITUAL INCL RELIEF EFFORTS 220,000
    CORNERSTONE CHURCH
    30 EDGEWOOD ROAD
    GLOUCESTER,MA01930     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    COVENANT FELLOWSHIP LAKE DALLAS
    625 SOUTH DENTON DRIVE
    LAKE DALLAS,TX75065     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    EASTON BAPTIST CHURCH
    197 BAY ROAD
    NORTH EASTON,MA02356     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    ELIZABETH BAPTIST CHURCH
    4124 BASSETT DAIRY ROAD
    MONTICELLO,FL32344     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    FAITH BAPTIST CHURCH
    18 STOUGHTON STREET
    STOUGHTON,MA02072     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    FAITH CHAPEL ASSEMBLY OF GOD
    340 PLEASANT STREET
    BRIDGEWATER,MA02324     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    FAMILY REACH FOUNDATION
    142 BERKELEY STREET 4TH FLOOR
    BOSTON,MA02116     		NONE PC FINANCIAL ASSISTANCE TO FAMILIES WITH PEDIATRIC CANCER DIAGNOSIS 70,000
    FAR VIEW HORSE RESCUE
    BOX 5457
    BRECKENRIDGE,CO80424     		NONE PC REHABILITATING RESCUED HORSES 110,000
    FIRST BAPTIST CHURCH OF HAVERHILL
    217 MAIN STREET
    HAVERHILL,MA01830     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    FIRST BAPTIST CHURCH OF MEDFIELD
    438 MAIN STREET
    MEDFIELD,MA02052     		NONE PC RELIGIOUS AND SPIRITUAL 5,000
    FIRST BAPTIST CHURCH OF SALEM
    292 LAFAYETTE STREET
    SALEM,MA01970     		NONE PC RELIGIOUS AND SPIRITUAL 5,000
    FIRST CHURCH OF CHRIST
    10 CHURCH STREET
    BRADFORD,MA01835     		NONE PC RELIGIOUS AND SPIRITUAL 15,000
    FLAGS FOR FALLEN MILITARY
    BOX 44576
    EDEN PRAIRIE,MN55394     		NONE PC PROVIDE COMMEMORATIVE FLAGS FOR FAMILIES 7,000
    FREDERICK CHURCH OF THE BRETHREN
    201 FAIRVIEW AVENUE
    FREDERICK,MD21701     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    GO TO NATIONS
    3771 SPRING PARK ROAD
    JACKSONVILLE,FL32207     		NONE PC RELIGIOUS AND SPIRITUAL 9,000
    GRACE ANGLICAN CHURCH
    1095 SOUTH STREET
    BRIDGEWATER,MA02324     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    HARMONY BIBLE CHURCH
    337 SPRUCE HEAD ROAD
    SOUTH THOMASTON,ME04858     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    HIGHROCK NORTH SHORE COVENANT CHURCH
    57 WHARF STREET UNIT 3G
    SALEM,MA01970     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    IMMANUEL CHAPEL
    PO BOX 265
    UPTON,MA01568     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    JEFFERSON COUNTY LIBRARY
    375 S WATER STREET
    MONTICELLO,FL32344     		NONE PC FREE LIBRARY TO PROVIDE LITERACY NEEDS 200,000
    JEZREEL INTL FOR HOUSTON
    10 INTERSTATE AVENUE
    ALBANY,NY12205     		NONE PC HUMANITARIAN AID 100,000
    JILL'S HOUSE
    9011 LEESBURG PIKE
    VIENNA,VA22182     		NONE PC SUPPORT FOR FAM RAISING CHILD WITH INTELLECTUAL DISABILITIES 15,000
    K-9S FOR WARRIORS
    114 CAMP K9 ROAD
    PONTE VEDRA BEACH,FL32081     		NONE PC PROVIDE SERVICE DOGS TO VETERANS SUFFERING FROM PTSD 30,000
    LAKE DELAWARE CAMP
    BOX 31
    NEW DELHI,NY13753     		NONE PC EDUCATIONAL 100,000
    LAKEVIEW ORTHODOX PRESBYTERIAN CHURCH
    188 ROCKLAND STREET
    ROCKPORT,ME04856     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    LIFE CHURCH
    1 NEW TAUNTON AVENUE
    NORTON,MA02766     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    LIFE SAVERS FOR WILD HORSE RESCUE
    35700 SAN CANYON ROAD
    CALIENTE,CA93581     		NONE PC TRAINING AND ADOPTION FOR HORSES 50,000
    MA VEST A DOG
    BOX 48
    WALPOLE,MA02081     		NONE PC PROVIDE BULLETPROOF K-9 VESTS 50,000
    MADISON PARK TECH VOC HS - SPEC ED DEPT
    75 MALCOLM X BOULEVARD
    BOSTON,MA02120     		NONE PC SPECIAL EDUCATION AND STUDENT SUPPLIES 40,000
    MARCUS FOUNDATION
    38 WESCOTT ROAD
    HOPEDALE,MA01747     		NONE PC FUND RESEARCH FOR CHILDHOOD BRAIN TUMORS 25,000
    NATIONAL BRITTANY RESCUE & ADOPTION NETWORK
    PO BOX 5046
    GREENSBURG,PA15601     		NONE PC DOG RESCUE FOR BRITTANYS 270,000
    NEW ENGLAND VETERINARY ONCOLOGY GROUP
    180 BEAR HILL ROAD SUITE C
    WALTHAM,MA02451     		NONE PC VETERINARY SERVICES FOR DOGS WITH CANCER 314,892
    NEW HAMPSHIRE SPCA
    BOX 196
    STRATHAM,NH03885     		NONE PC ANIMAL RESCUES 25,000
    NORTH SHORE MERRIMACK
    60 MAIN STREET
    ANDOVER,MA01810     		NONE PC RELIEF EFFORTS FOR COMM AFFECTED BY GAS LINE FAILURE 20,000
    OVERSEED
    581 WASHINGTON ST 3
    SOUTH EASTON,MA02375     		NONE PC PREPARES CHURCHES FOR REVITALIZATION 140,000
    OWLS HEAD BAPTIST CHURCH
    BOX 81
    OWLS HEAD,ME04854     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    PATRIOT PAWS SERVICE DOGS
    254 RANCH TRAIL
    ROCKWELL,TX75032     		NONE PC TRAIN SERVICE DOGS FOR DISABLED AMERICAN VETERANS 25,000
    PENOBSCOT BAY MINISTRIES
    132 CAMDEN STREET
    ROCKLAND,ME04841     		NONE PC HOUSE WOMEN RECENTLY RELEASED FROM REHABILTATION OR PRISON 5,000
    PILGRIM PRESBYTERIAN CHURCH
    5 LISA BETH DRIVE
    DOVER,NH03820     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    PIM PROJECT INC
    7 LINDEN PARK DRIVE
    RANDOLPH,MA02368     		NONE PC RELIGIOUS AND SPIRITUAL 5,000
    PLACE OF HOPE
    9078 ISAIAH LANE
    PALM BEACH GARDENS,FL33418     		NONE PC SERVICES FOR ABUSED & NEGLECTED CHILDREN & TEENS 5,000
    PLEASANT MOUNTAIN PRESBYTERIAN CHURCH
    30 NORTH HIGH STREET
    BRIDGTON,ME04009     		NONE PC RELIGIOUS AND SPIRITUAL 5,000
    PRISON EVANGELISM
    BOX 571977
    HOUSTON,TX77257     		NONE PC RELIGIOUS & SPIRITUAL FOR THE INCARCERATED 30,000
    PROVIDENCE BAPTIST CHURCH
    80 BOARDMAN STREET
    NORFOLK,MA02056     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    RFMH (LYME & TICK BORNE RESEARCH)
    1051 RIVERSIDE DRIVE
    NEW YORK,NY10032     		NONE PC LYME AND TICK RESEARCH 300,000
    SAINT IGNATIUS NURSING AND REHAB CENTER
    4401 HAVERFORD AVENUE
    PHILADELPHIA,PA19104     		NONE PC COMMUNITY CARE FOR THE ELDERLY IN PHILADELPHIA 10,000
    SAINT JOSEPHS UNIVERSITY
    5600 CITY AVENUE
    PHILADELPHIA,PA19131     		NONE PC ENTREPRENEURIAL PROGRAMS FOR VETERANS 15,000
    SAINTS FOR SERVICE TRAINING CENTER
    779 ROCK LAKE GLEN
    FORT HILL,SC29715     		NONE PC RELIGIOUS AND SPIRITUAL EDUCATION 10,000
    SAMARITAN'S PURSE
    1 BILLY GRAHAM PARKWAY
    CHARLOTTE,NC28201     		NONE PC RELIEF FOR DISASTERS IN U.S. AND WORLDWIDE 90,000
    SATO PROJECT
    130 WATER STREET
    BROOKLYN,NY11201     		NONE PC RESCUE AND REHAB FOR DOGS IN PUERTO RICO 50,000
    SECOND CHANCE FOR BLIND DOGS
    4335 VAN NUYS BLVD 190
    SHERMAN OAKS,CA91403     		NONE PC HELP FOR BLIND DOGS 60,000
    SECOND PARISH OPC
    32 NEAL STREET
    PORTLAND,ME04102     		NONE PC RELIGIOUS AND SPIRITUAL 5,000
    SHILOH BAPTIST CHURCH
    HOLTON BOWER STREET
    MEDFORD,MA02156     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    SPRUCE HEAD COMMUNITY CHURCH
    BOX 18
    SPRUCE HEAD,ME04859     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    ST LUKE'S EVANGELICAL LUTHERAN CHURCH
    950 EAST STREET
    DEDHAM,MA02026     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    STRONG TOWER INTERNATIONAL
    474 REVERE BEACH BLVD 504
    REVERE,MA02151     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    TELLING ROOM
    225 COMMERCIAL ST SUITE 201
    PORTLAND,ME04101     		NONE PC EDUCATIONAL - STRENGTHENING LITERACY SKILLS 40,000
    THE EVANGELICAL CONGREGATIONAL CHURCH OF EASTON
    PO BOX 52
    SOUTH EASTON,MA02375     		NONE PC RELIGIOUS AND SPIRITUAL 10,000
    TRUSTEES OF THE RESERVATION
    200 HIGH STREET
    BOSTON,MA02110     		NONE PC PRESERVE PROPERTIES OF HISTORICAL & ECOLOGICAL VALUE 5,000
    TRUTH FOR LIFE
    BOX 398000
    CLEVELAND,OH44139     		NONE PC RELIGIOUS AND SPIRITUAL EDUCATION 50,000
    WARRIOR DOG FOUNDATION
    5930 ROYAL LN STE 355
    DALLAS,TX75230     		NONE PC REHAB K9S THAT WERE IN COMBAT FOR FOREVER HOMES 40,000
    Total .................................bullet 3a 3,219,903
    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 17,444  
    4 Dividends and interest from securities....     14 951,199  
    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 2,971,072  
    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 3,939,715 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,939,715
    (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 JOSETTA FUND
     
    Employer identification number

    04-3340006
    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 JOSETTA FUND
          		Employer identification number
    04-3340006
    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
    MARTHA R GERRY TOWNLEY  
    100 WALPOLE STREET
     
    DOVER, MA020301650

    		$ 560,000


    (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.)
    (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 JOSETTA FUND
          		Employer identification number

    04-3340006
    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 JOSETTA FUND
          		Employer identification number

    04-3340006
    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 JOSETTA FUND
    EIN:
    04-3340006
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION 6,700 0   6,700

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    THE JOSETTA FUND
    EIN:
    04-3340006
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CORPORATE BONDS 5,997,275 5,930,145

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE JOSETTA FUND
    EIN:
    04-3340006
    Name of Stock End of Year Book Value End of Year Fair Market Value
    COMMON STOCKS 20,511,497 24,296,092
    MUTUAL FUNDS 10,107,952 9,487,353

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    THE JOSETTA FUND
    EIN:
    04-3340006
    US Government Securities - End of Year Book Value:

    958,354
    US Government Securities - End of Year Fair Market Value:

    972,159
    State & Local Government Securities - End of Year Book Value:


    204,448
    State & Local Government Securities - End of Year Fair Market Value:


    217,765


    TY 2018 LegalFeesSchedule
    Name:
    THE JOSETTA FUND
    EIN:
    04-3340006
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL EXPENSE 181,621 0   181,621


    TY 2018 OtherDecreasesSchedule
    Name:
    THE JOSETTA FUND
    EIN:
    04-3340006
    Description Amount
    CURRENT YEAR BASIS ADJUSTMENTS TO ASSETS 804


    TY 2018 OtherExpensesSchedule
    Name:
    THE JOSETTA FUND
    EIN:
    04-3340006
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    WIRE TRANSACTION FEES & OTHER SERVICE CHARGES 114 114   0
    ORGANIZATION DUES 750 0   750
    FROM K-1 - BOARDWALK PIPELINE PARTNERS, L.P. 0 15   0


    TY 2018 OtherIncreasesSchedule
    Name:
    THE JOSETTA FUND
    EIN:
    04-3340006
    Description Amount
    DISTRIBUTIONS RECEIVED FROM PUBLICLY TRADED PARTNERSHIP 2,600


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE JOSETTA FUND
    EIN:
    04-3340006
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ASSET MANAGEMENT FEES 321,193 321,193   0
    ASSET CUSTODY FEES 36,233 36,233   0


    TY 2018 TaxesSchedule
    Name:
    THE JOSETTA FUND
    EIN:
    04-3340006
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMMONWEALTH OF MASSACHUSETTS - ANNUAL REPORT 500 0   500
    FOREIGN TAXES WITHHELD ON DIVIDENDS 9,669 9,669   0
    FEDERAL EXCISE TAX ON NET INVESTMENT INCOME 38,123 0   0