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 JACK SATTER FOUNDATION
C/O HEMENWAY TRUST COMPANY
Number and street (or P.O. box number if mail is not delivered to street address)25 PELHAM ROAD SUITE 401
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SALEM, NH03079
A Employer identification number

65-6316190
B Telephone number (see instructions)

(603) 913-8022
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$60,637,068J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,513,422 1,483,085  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,239,723
b Gross sales price for all assets on line 6a 15,223,995
7 Capital gain net income (from Part IV, line 2)... 1,239,723
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........ 2,753,145 2,722,808  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 80,000 0   80,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 154,831 0   154,831
b Accounting fees (attach schedule)....... Click to see attachment 8,574 4,287   4,287
c Other professional fees (attach schedule).... Click to see attachment 142,972 140,888   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 20,000 0   0
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 430 430   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 406,807 145,605   239,118
25 Contributions, gifts, grants paid....... 3,565,989 3,565,989
26 Total expenses and disbursements. Add lines 24 and 25 3,972,796 145,605   3,805,107
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,219,651
b Net investment income (if negative, enter -0-) 2,577,203
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......... 4,127,767 3,149,818 3,149,818
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) 7,394,930 Click to see attachment8,791,964 8,662,512
b Investments—corporate stock (attach schedule)....... 35,293,473 Click to see attachment31,890,273 35,939,768
c Investments—corporate bonds (attach schedule)....... 11,440,616 Click to see attachment13,205,315 12,884,970
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) 58,256,786 57,037,370 60,637,068
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 58,256,786 57,037,370
30 Total net assets or fund balances (see instructions)..... 58,256,786 57,037,370
31 Total liabilities and net assets/fund balances (see instructions). 58,256,786 57,037,370
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
58,256,786
2
Enter amount from Part I, line 27a .....................
2
-1,219,651
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
235
4
Add lines 1, 2, and 3 ..........................
4
57,037,370
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
57,037,370
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 BARHEMCO      
b CAPITAL GAINS DIVIDENDS P    
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 14,267,806   13,984,272 283,534
b 956,189     956,189
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       283,534
b       956,189
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 1,239,723
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 2,829,164 63,089,869 0.044843
2016 1,662,512 46,591,230 0.035683
2015 906,079 1,166 777.083190
2014 700 1,787 0.391718
2013 0 1,949 0.000000
2
Total of line 1, column (d) .....................
2
777.555434
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
155.511087
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
64,211,078
5
Multiply line 4 by line 3......................
5
9,985,534,537
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
25,772
7
Add lines 5 and 6........................
7
9,985,560,309
8
Enter qualifying distributions from Part XII, line 4,.............
8
3,805,107
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 51,544
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 51,544
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 51,544
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 28,476
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 28,476
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 23,068
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? ....................
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)
    bulletFL
    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 ofbulletHEMENWAY TRUST COMPANY Telephone no.bullet (603) 913-8022

    Located atbullet25 PELHAM ROAD SUITE 401SALEMNH ZIP+4bullet03079
    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
     
     
    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
    SAMUEL LEVY TRUSTEE
    4.00     		20,000 0 0
    12 CRESTWOOD DRIVE
    FRAMINGHAM,MA01701
    SYLVIA LEVY TRUSTEE
    4.00     		20,000 0 0
    12 CRESTWOOD DRIVE
    FRAMINGHAM,MA01701
    ERIC M WOLF TRUSTEE
    12.00     		20,000 0 0
    3891 TOULOUSE DRIVE
    PALM BEACH GARDENS,FL33410
    MARY LOU COCCI TRUSTEE
    11.00     		20,000 0 0
    3891 TOULOUSE DRIVE
    PALM BEACH GARDENS,FL33410
    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
    HEMENWAY & BARNES LLP LEGAL & GRANT MANAGEMENT SERVICES 163,404
    75 STATE STREET
    BOSTON,MA02109
    HEMENWAY TRUST CO LLC INVESTMENT MANAGEMENT SERVICES 103,220
    25 PELHAM ROAD
    SALEM,NH03079
    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
    62,522,654
    b
    Average of monthly cash balances.......................
    1b
    2,666,258
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    65,188,912
    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
    65,188,912
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    977,834
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    64,211,078
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,210,554
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    3,210,554
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    51,544
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    51,544
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,159,010
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,159,010
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    3,159,010
    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
    3,805,107
    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
    3,805,107
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,805,107
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 3,159,010
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 44,608
    b Total for prior years:20, 20, 20 0
    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........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 3,805,107
    a Applied to 2017, but not more than line 2a 44,608
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 3,159,010
    e Remaining amount distributed out of corpus 601,489
    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 5 601,489
    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 ......     		601,489
    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.... 601,489
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or 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
    ACCESSPORTAMERICA INC
    119 HIGH STREET
    ACTON,MA01720     		  PC SUPPORT OF THE SOCCER AND CONDITIONING PROGRAM 26,529
    ACCESSPORTAMERICA INC
    119 HIGH STREET
    ACTON,MA01720     		  PC GAIT-TRAINING PROGRAM 10,000
    AMERICAN CANCER SOCIETY INC
    30 SPEEN STREET
    FRAMINGHAM,MA01701     		  PC THE HOTEL PARTNERS PROGRAM IN BOSTON 150,000
    AMERICAN CANCER SOCIETY INC
    30 SPEEN STREET
    FRAMINGHAM,MA01701     		  PC HOPE LODGE CLEANING SERVICES 25,000
    AMERICAN CANCER SOCIETY INC
    30 SPEEN STREET
    FRAMINGHAM,MA01701     		  PC REVITALIZATION OF THE ASTRAZENECA HOPE LODGE BOSTON COMMON AREA 100,000
    AMERICAN CANCER SOCIETY INC
    30 SPEEN STREET
    FRAMINGHAM,MA01701     		  PC A PATIENT NAVIGATOR PROGRAM AT BOSTON MEDICAL CENTER 80,000
    BEACON ACADEMY
    477 LONGWOOD AVENUE
    BOSTON,MA02215     		  PC ALUMNI PROGRAM 50,000
    BEACON ACADEMY
    477 LONGWOOD AVENUE
    BOSTON,MA02215     		  PC SUMMER PROGRAMS 25,000
    BOSTON CHILDREN'S CHORUS
    20 OLD COLONY AVENUE
    BOSTON,MA02127     		  PC UNRESTRICTED SUPPORT 5,000
    BOSTON MEDICAL CENTER
    801 MASSACHUSETTS AVENUE FIRST
    FLOOR
    BOSTON,MA02118     		  PC THE GROW CLINIC FOR CHILDREN 15,000
    BOSTON MEDICAL CENTER
    801 MASSACHUSETTS AVENUE FIRST
    FLOOR
    BOSTON,MA02118     		  PC BOSTON CATALYST 399,910
    BRIGHAM AND WOMEN'S HOSPITAL
    116 HUNTINGTON AVENUE
    BOSTON,MA02116     		  PC THE GILLIAN RENY STEPPING STRONG CENTER FOR TRAUMA INNOVATION DIRECTORSHIP 200,000
    BRIGHAM AND WOMEN'S HOSPITAL
    116 HUNTINGTON AVENUE
    BOSTON,MA02116     		  PC THE ESTABLISHMENT OF THE STEPPING STRONG INNOVATOR AWARDS ENDOWMENT 250,000
    COMBINED JEWISH PHILANTHROPIES OF GREATER BOSTON INC
    126 HIGH STREET
    BOSTON,MA02110     		  PC IN HONOR OF SAM LEVY'S BROTHER, DR. PAUL LEVY 2,500
    CONGREGATION SONS OF ISRAEL
    PO BOX 702
    PEABODY,MA01960     		  PC UNRESTRICTED SUPPORT 5,000
    COTTING SCHOOL
    453 CONCORD AVENUE
    LEXINGTON,MA02421     		  PC PROJECT BRIDGES AND TRANSITION SERVICES 50,000
    ELS FOR AUTISM
    18370 LIMESTONE CREEK ROAD
    JUPITER,FL33458     		  PC OPERATING SUPPORT 150,000
    FRIENDS OF THE CALLAHAN SENIOR CENTER
    535 UNION AVENUE
    FRAMINGHAM,MA01702     		  PC IN HONOR OF THE NURSES IN THE BLOOD PRESSURE CLINIC 2,500
    FRIENDS OF THE CALLAHAN SENIOR CENTER
    535 UNION AVENUE
    FRAMINGHAM,MA01702     		  PC IN HONOR OF FRIENDS PRESIDENT MARK GOLDMAN 2,500
    HEBREW SENIORLIFE
    1200 CENTRE STREET
    BOSTON,MA02131     		  PC THE EXPANSION OF JEWISH PROGRAMMING AT JACK SATTER HOUSE 25,000
    HEBREW SENIORLIFE
    1200 CENTRE STREET
    BOSTON,MA02131     		  PC UNRESTRICTED SUPPORT 500,000
    HEBREW SENIORLIFE
    1200 CENTRE STREET
    BOSTON,MA02131     		  PC FBO THE JACK SATTER HOUSE 5,000
    HEBREW SENIORLIFE
    1200 CENTRE STREET
    BOSTON,MA02131     		  PC RENOVATION OF THE JACK SATTER HOUSE COURTYARD 150,000
    HOOPS AND HOMEWORK INC
    56 AGNES DRIVE
    FRAMINGHAM,MA01701     		  PC GENERAL OPERATING SUPPORT 5,000
    JUPITER MEDICAL CENTER FOUNDATION
    1210 SOUTH OLD DIXIE HIGHWAY
    JUPITER,FL33458     		  PC EXPAND ITS PRIMARY STROKE PROGRAM INTO A COMPREHENSIVE STROKE CENTER 200,000
    MASSACHUSETTS GENERAL HOSPITAL
    125 NASHUA STREET SUITE 540
    BOSTON,MA02114     		  PC SUPPORT OF MIND (MASSGENERAL INSTITUTE FOR NEURODEGENERATIVE DISEASE) 250,000
    MINDING YOUR MIND
    124 SIBLEY AVENUE
    ARDMORE,PA19003     		  PC OPERATING SUPPORT 250,000
    NEADS
    PO BOX 1100
    PRINCETON,MA01541     		  PC SUPPORT THE SERVICE DOGS FOR VETERANS PROGRAM 100,000
    ONE MISSION
    69 MILK STREET SUITE 300
    WESTBOROUGH,MA01581     		  PC DEC MY ROOM AND MUSIC THERAPY AT BOSTON CHILDREN'S HOSPITAL. 100,000
    ONE MISSION
    69 MILK STREET SUITE 300
    WESTBOROUGH,MA01581     		  PC OPERATING SUPPORT 15,000
    THE RIVERS SCHOOL
    333 WINTER STREET
    WESTON,MA02493     		  PC THE AUXILIARY FINANCIAL AID ENDOWMENT FUND 100,000
    RONALD MCDONALD HOUSE CHARITIES OF EASTERN NEW ENGLAND INC
    3 INDUSTRIAL DRIVE UNIT 6
    WINDHAM,NH03087     		  PC THE RONALD MCDONALD HOUSE IN CHARLESTOWN MASSACHUSETTS 5,000
    SPAULDING REHABILITATION HOSPITAL
    1575 CAMBRIDGE STREET
    CAMBRIDGE,MA02138     		  PC SUPPORT OF PEDIATRIC PROGRAM 200,000
    UNITED STATES HOLOCAUST MEMORIAL MUSEUM
    100 RAOUL WALLENBERG PL SW
    WASHINGTON,DC20024     		  PC IN HONOR OF SAM LEVY'S SISTER, ROSE THIBAULT 2,500
    WOUNDED VETERANS RELIEF FUND
    1335 OLD DIXIE HIGHWAY UNIT 3
    LAKE PARK,FL33403     		  PC UNRESTRICTED SUPPORT 25,000
    YOUTH VILLAGES
    400 WEST CUMMINGS PARK SUITE 5200
    WOBURN,MA01801     		  PC TO SUPPORT THE MY LIFE MY CHOICE PROGRAM, EXPRESS YOURSELF PROGRAM AND OCCUPATIONAL THERAPY PROGRAM 25,000
    YOUTH VILLAGES
    400 WEST CUMMINGS PARK SUITE 5200
    WOBURN,MA01801     		  PC THE YVLIFESET PROGRAM 25,000
    ZENO MOUNTAIN FARM
    950 ZENO ROAD
    BRISTOL,VT05443     		  PC SUPPORT PROGRAMMING AND ACTIVITIES THAT ASSIST PEOPLE FROM MASSACHUSETTS WITH DISABILITIES 34,550
    Total .................................bullet 3a 3,565,989
    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 ...........     		         
    4 Dividends and interest from securities....     14 1,513,422  
    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 1,239,723  
    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 2,753,145 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,753,145
    (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

    TY 2018 AccountingFeesSchedule
    Name:
    THE JACK SATTER FOUNDATION
     
    C/O HEMENWAY TRUST COMPANY
    EIN:
    65-6316190
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    HEMENWAY & BARNES LLP TAX PREPARATION 8,574 4,287   4,287

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    THE JACK SATTER FOUNDATION
     
    C/O HEMENWAY TRUST COMPANY
    EIN:
    65-6316190
    Name of Bond End of Year Book Value End of Year Fair Market Value
    152,000 ADT CORP 6.25% 10/15/2021 161,813 154,090
    151,000 AES CORP 4.875% 05/15/2023 151,857 147,603
    146,000 AIRCASTLE LTD 5.00% 04/01/2023 152,135 146,574
    37,000 AMERICAN TOWER CORP 3.375% 10/15/2026 36,397 34,422
    121,000 AMERICAN TOWER CORP 4.40% 02/15/2026 121,414 120,906
    155,000 ANHEUSER BUSCH INBEV FIN 3.30% 02/01/23 152,745 150,714
    185,000 ANTERO RESOURCES CORP 5.125% 12/01/2022 187,341 173,900
    381,000 APPLE INC VAR 02/09/2022 383,814 380,794
    150,000 ARAMARK SERVICES INC 5.125% 01/15/2024 152,250 148,500
    151,000 AT&T INC SR GLBL NT 4.25% 03/01/2027 154,395 147,732
    234,000 AUTOMATIC DATA PROCESSNG 3.375% 09/15/25 236,414 232,105
    55,000 BALL CORP 4.00% 11/15/2023 55,580 53,488
    135,000 BALL CORP 5.25% 07/01/2025 135,000 134,663
    221,000 BANK OF AMERICA CORP 3.875% 08/01/2025 226,398 218,626
    187,000 BURLINGTON NORTHERN & SANTA FE UNSEC 6.15% 05/01/2037 233,335 227,794
    21,000 CDW LLC/CDW FINANCE 5.00% 09/01/2025 21,826 20,108
    125,000 CDW LLC/CDW FINANCE 5.50% 12/01/2024 130,178 123,438
    152,000 CHARTER COMM OPT LLC/CAP 4.908% 07/23/25 161,437 151,143
    147,000 CHENIERE CORPUS CHRISTI 5.875% 03/31/25 152,573 146,265
    27,000 CIT GROUP INC 5.00% 08/15/2022 28,849 26,629
    124,000 CIT GROUP INC SR NT 5.00% 08/01/2023 126,887 121,520
    123,000 CROWN AMER/CAP CORP IV 4.50% 01/15/2023 128,084 120,079
    37,000 CROWN AMERS LLC 4.25% 09/30/2026 36,613 33,208
    190,000 CROWN CASTLE INTL CORP 5.25% 01/15/2023 197,387 197,300
    152,000 CVS HEALTH CORP 5.125% 07/20/2045 178,462 147,958
    155,000 CYRUSONE LP/CYRUSONE 5.00% 03/15/2024 153,838 151,900
    10,000 DIAMONDBACK ENERGY INC 4.75% 11/01/2024 10,123 9,650
    152,000 DIAMONDBACK ENERGY INC 5.375% 05/31/2025 157,637 148,200
    150,000 GENERAL MOTORS FINL CO 4.25% 05/15/2023 150,897 146,493
    243,000 GEORGE WASHINGTON 4.126% 09/15/2048 244,548 243,165
    130,000 GEORGIA PAC CORP DTD 12/11/2003 8.00% 1/15/2024 158,849 156,078
    153,000 HCA INC 5.00% 03/15/2024 155,479 151,470
    21,000 HOST HOTELS & RESORTS 3.875% 04/01/2024 21,518 20,717
    120,000 HOST HOTELS & RESORTS LP 3.75% 10/15/23 118,908 117,702
    10,000 HOST HOTELS & RESORTS LP 4.75% 03/01/23 10,266 10,217
    177,000 INTERNATIONAL PAPER CO 3.00% 02/15/2027 174,093 161,118
    160,000 JPMORGAN CHASE & CO 2.95% 10/01/2026 151,390 147,765
    157,000 KAISER FOUNDATION HOSPIT 3.15% 05/01/27 156,706 150,940
    150,000 LENNAR CORP 4.75% 04/01/2021 151,156 148,688
    150,000 MCDONALD S CORP 3.70% 01/30/2026 150,300 147,044
    140,000 MGM RESORTS INTL 7.75% 03/15/2022 152,075 148,925
    154,000 MICROSOFT CORP 3.75% 02/12/2045 159,779 148,986
    153,000 NATIONAL RURAL UTIL COOP 3.25% 11/01/25 154,430 150,858
    155,000 NORTHROP GRUMMAN CORP 3.20% 02/01/2027 155,307 145,344
    127,000 NUSTAR LOGISTICS LP 4.80% 09/01/2020 126,332 124,460
    160,000 ORACLE CORP SR GLBL 3.80% 11/15/2037 164,574 149,626
    125,000 OWENS CORNING 4.20% 12/15/2022 126,029 124,110
    160,000 PENSKE AUTOMOTIVE GRP INC DTD 08/15/2017 3.750% 08/15/2020 162,123 156,000
    172,000 TEVA PHARMACEUTICALS NE 2.2% 07/21/2021 160,259 158,104
    159,000 TOLL BROS FINANCE CORP 4.375% 04/15/2023 164,247 149,063
    145,000 VISA INC SR GLBL 4.3% 12/14/2045 153,195 149,855
    88,000 VULCAN MATERIALS CO 4.50% 04/01/2025 92,820 87,417
    30,000 VULCAN MATLS CO GLBL 3.90% 04/01/2027 30,183 28,389
    389,000 WELLS FARGO CO NEW VAR 02/11/2022 391,609 386,479
    412,918.39 VANGUARD S/T CORPORATE-INV 4,350,334 4,310,868
    500,000 PEPSICO INC 3.00% 08/25/2021 500,852 501,210
    500,000 VISA INC 2.20% 12/14/2020 492,275 494,570

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE JACK SATTER FOUNDATION
     
    C/O HEMENWAY TRUST COMPANY
    EIN:
    65-6316190
    Name of Stock End of Year Book Value End of Year Fair Market Value
    4250 3M COMPANY 650,535 809,795
    17,500 ABBOTT LABORATORIES 770,930 1,265,775
    1000 ALPHABET INC CL A 624,176 1,044,960
    13000 ANALOG DEVICES INC 989,370 1,115,790
    6400 APPLE INC COM 702,061 1,009,536
    9500 APTARGROUP INC 659,395 893,665
    7500 AUTOMATIC DATA PROCESSING INC 637,457 983,400
    12,000 CANADIAN NATL RY CO COM 763,022 889,320
    7000 CHEVRON CORP 769,780 761,530
    8500 CHUBB LIMITED 957,606 1,098,030
    10,000 CVS HEALTH CORPORATION 955,199 655,200
    10,000 DANAHER CORP 740,121 1,031,200
    6200 EOG RESOURCES INC 620,094 540,702
    13,000 FISERV INC 570,243 955,370
    9000 FORTIVE CORPORATION 548,614 608,940
    5000 HOME DEPOT INC 709,014 859,100
    3000 ILLUMINA INC 503,347 899,790
    2000 IPG PHOTONICS CORP COM 162,825 226,580
    8000 JOHNSON & JOHNSON 821,894 1,032,400
    6000 MASTERCARD INC CL A 554,719 1,131,900
    12,000 NESTLE NAM SPON ADR 922,197 971,520
    12,500 NOVARTIS AG SPON ADR 1,102,978 1,072,625
    15,000 NOVOZYMES A/S B SHARES 624,165 668,052
    3000 NVIDIA CORP 190,530 400,500
    4000 PAYPAL HOLDINGS INC 342,524 336,360
    11,000 PROCTER & GAMBLE CO 896,366 1,011,120
    5000 ROCKWELL AUTOMATION INC 549,261 752,400
    4000 THE WALT DISNEY CO 461,254 438,600
    18,000 UNILEVER PLC ADR AMER SHS SPON 819,989 940,500
    9000 UNITED TECHNOLOGIES CORP 955,400 958,320
    11,000 XILINX INC 663,521 936,870
    11,000 XYLEM INC 501,686 733,920
    49,524.25 DODGE & COX INTL STOCK FUND 2,040,000 1,827,940
    39,762.26 FPA CRESCENT FUND 1,290,000 1,174,179
    40,979.75 HARDING LOEVNER EMG MKTS 1,840,000 1,955,553
    86,475.88 NEUBERGER BERMAN LONG SHORT FUND INS 1,200,000 1,112,945
    100,664.13 ROBECO BP LNG/SHRT RES INS 1,540,000 1,452,583
    140,528.25 WALTHAUSEN SELECT VALUE FUND INST 2,240,000 1,382,798

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    THE JACK SATTER FOUNDATION
     
    C/O HEMENWAY TRUST COMPANY
    EIN:
    65-6316190
    US Government Securities - End of Year Book Value:

    7,635,068
    US Government Securities - End of Year Fair Market Value:

    7,468,446
    State & Local Government Securities - End of Year Book Value:


    1,156,896
    State & Local Government Securities - End of Year Fair Market Value:


    1,194,066


    TY 2018 LegalFeesSchedule
    Name:
    THE JACK SATTER FOUNDATION
     
    C/O HEMENWAY TRUST COMPANY
    EIN:
    65-6316190
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    HEMENWAY & BARNES LLP GRANT ADMINISTRATION 154,831 0   154,831


    TY 2018 OtherExpensesSchedule
    Name:
    THE JACK SATTER FOUNDATION
     
    C/O HEMENWAY TRUST COMPANY
    EIN:
    65-6316190
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADR FEES 430 430   0


    TY 2018 OtherIncreasesSchedule
    Name:
    THE JACK SATTER FOUNDATION
     
    C/O HEMENWAY TRUST COMPANY
    EIN:
    65-6316190
    Description Amount
    BOOK VALUE ADJUSTMENT 235


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE JACK SATTER FOUNDATION
     
    C/O HEMENWAY TRUST COMPANY
    EIN:
    65-6316190
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GW&K INVESTMENT MANAGEMENT FEES 39,752 37,668   0
    HEMENWAY TRUST COMPANY INVESTMENT MANAGEMENT 103,220 103,220   0


    TY 2018 TaxesSchedule
    Name:
    THE JACK SATTER FOUNDATION
     
    C/O HEMENWAY TRUST COMPANY
    EIN:
    65-6316190
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX PAID 20,000 0   0