TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2020

Open to Public Inspection

For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020

Name of foundation
Telemachus and Irene Demoulas Family
Foundation

Number and street (or P.O. box number if mail is not delivered to street address)286 Chelmsford Street
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Chelmsford, MA01824

A Employer identification number

04-3582759

B Telephone number (see instructions)

(978) 244-1024

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$52,505,054J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	3,051		3,051
4	Dividends and interest from securities...	2,698,392		2,698,392
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-187,404
b	Gross sales price for all assets on line 6a 9,239,905
7	Capital gain net income (from Part IV, line 2)...			0
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........	2,514,039		2,701,443
13	Compensation of officers, directors, trustees, etc.	50,000		25,000	25,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		12,500	0	12,500
c	Other professional fees (attach schedule)....		201,159	201,159	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		34,400	0	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		530	30	500
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	298,589		226,189	38,000
25	Contributions, gifts, grants paid.......	4,075,000			4,075,000
26	Total expenses and disbursements. Add lines 24 and 25	4,373,589		226,189	4,113,000
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-1,859,550
b	Net investment income (if negative, enter -0-)			2,475,254
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2020)

Form 990-PF (2020)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	314,104	101,859	101,859
	2	Savings and temporary cash investments.........	1,570,083	2,890,719	2,890,719
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	529,056	0	0
	b	Investments—corporate stock (attach schedule).......	15,646,496	17,632,880	17,632,880
	c	Investments—corporate bonds (attach schedule).......	10,639,438	11,293,948	11,293,948
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	21,563,892	19,068,042	19,068,042
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	0	1,517,606	1,517,606
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	50,263,069	52,505,054	52,505,054
	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 )	53,326	29,981
	23	Total liabilities (add lines 17 through 22).........	53,326	29,981
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	50,209,743	52,475,073
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	50,209,743	52,475,073
	30	Total liabilities and net assets/fund balances (see instructions).	50,263,069	52,505,054

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

50,209,743

Enter amount from Part I, line 27a .....................

-1,859,550

Other increases not included in line 2 (itemize) bullet

4,124,880

Add lines 1, 2, and 3 ..........................

52,475,073

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

52,475,073

Form 990-PF (2020)

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
1 a	Publicly Traded Securities	P
b	Capital Gains Dividends	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	9,239,535	9,427,309	-187,774
b	370		370
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			-187,774
b			370
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-187,404
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 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE

1 Reserved

(a) Reserved	(b) Reserved	(c) Reserved	(d) Reserved

Reserved...........................

Reserved,..........................

Form 990-PF (2020)

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	34,406
c	All other domestic foundations enter 1.39% 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	34,406
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	34,406
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	23,840
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	11,000
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	34,840
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.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	434
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax434	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

Telemachus Irene Demoulas Fam Fnd Telephone no. bullet

(978) 244-1024

Located at bullet

286 Chelmsford StreetChelmsfordMA ZIP+4 bullet

01824

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

16 At any time during calendar year 2020, 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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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 ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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 2020?.............

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)):

At the end of tax year 2020, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2020?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 2020 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 2020.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2020?

Form 990-PF (2020)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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 ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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? .................YesNo

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-)
IRENE DEMOULAS	TRUSTEE 2.00	0
286 CHELMSFORD STREET CHELMSFORD,MA01824	TRUSTEE 2.00	0
ARTHUR T DEMOULAS	TRUSTEE 2.00	0
286 CHELMSFORD STREET CHELMSFORD,MA01824	TRUSTEE 2.00	0
D HAROLD SULLIVAN	TRUSTEE 2.00	25,000
286 CHELMSFORD STREET CHELMSFORD,MA01824	TRUSTEE 2.00	25,000
SUSAN M DUFRESNE	ADMINISTRATOR 6.00	25,000
286 CHELMSFORD STREET CHELMSFORD,MA01824	ADMINISTRATOR 6.00	25,000

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...................				0

Form 990-PF (2020)

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
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1	Hospital & Health Organizations	3,337,500
2	Schools, Colleges, Universities	437,500
3	Youth Organizations	200,000
4	Civic and Cultural Organizations	100,000

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2020)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

49,210,325

Average of monthly cash balances.......................

472,507

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

49,682,832

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

49,682,832

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

745,242

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

48,937,590

Minimum investment return. Enter 5% of line 5..................

2,446,880

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

Minimum investment return from Part X, line 6....................

2,446,880

Tax on investment income for 2020 from Part VI, line 5......

34,406

Income tax for 2020. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

34,406

Distributable amount before adjustments. Subtract line 2c from line 1............

2,412,474

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

2,412,474

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

2,412,474

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

4,113,000

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

4,113,000

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.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

4,113,000

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 (2020)

Page 9

Part XIII

Undistributed Income (see instructions)

	(a) Corpus	(b) Years prior to 2019	(c) 2019	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7				2,412,474
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......			2,335,907
b Total for prior years:20, 20, 20		0
3 Excess distributions carryover, if any, to 2020:
a From 2015......
b From 2016......
c From 2017......
d From 2018......
e From 2019......
fTotal of lines 3a through e........	0
4Qualifying distributions for 2020 from Part
XII, line 4: $ 4,113,000
a Applied to 2019, but not more than line 2a			2,335,907
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 2020 distributable amount.....				1,777,093
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2020.	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	0
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 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............			0
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........				635,381
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 2015 not applied on line 5 or line 7 (see instructions) ...	0
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......	0
10 Analysis of line 9:
a Excess from 2016....
b Excess from 2017....
c Excess from 2018....
d Excess from 2019....
e Excess from 2020....

Form 990-PF (2020)

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 2020, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

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) 2020	(b) 2019	(c) 2018	(d) 2017	(e) Total

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).)

IRENE DEMOULAS

ARTHUR T DEMOULAS

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

Arthur T Demoulas Telemachus Irene
286 Chelmsford Street
Chelmsford,MA01824
(978) 244-1024

bThe form in which applications should be submitted and information and materials they should include:

Letter request including need for contribution

cAny submission deadlines:

None

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

None

Form 990-PF (2020)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
MA COVID-19 Relief Fund - Foundation for Business Equity 265 Franklin Street Boston,MA02110			Civic, Cultural & Other	100,000
Strongwater Farm 500 Livingston Street PO Box 754 Tewksbury,MA01876			Hospital & Health Organizations	50,000
Boston College More Hall 220 140 Commonwealth Ave Chestnut Hill,MA02467			Schools, Colleges, Universities	337,500
Athol Hospital - Heywood Heath Care 242 Green Street Gardner,MA01440			Hospital & Health Organizations	50,000
Anatolia College 18 Tremont Street Suite 704 Boston,MA02108			Schools, Colleges, Universities	50,000
Anna Jaques Community Health Foundation 25 Highland Avenue Newburyport,MA01950			Hospital & Health Organizations	50,000
Signature Healthcare Foundation 680 Centre Street Brockton,MA02302			Hospital & Health Organizations	50,000
Dana-Farber Cancer Institute 10 Brookline Place West 6th Floor Brookline,MA02445			Hospital & Health Organizations	50,000
Hasbro Children's Hospital 593 Eddy Street Administration Suite 162 Providence,RI02903			Hospital & Health Organizations	12,500
Lowell House Inc 555 Merrimack Street Lowell,MA01854			Hospital & Health Organizations	25,000
New England Baptist Hospital 125 Parker Hill Avenue Roxbury Crossing,MA02120			Hospital & Health Organizations	50,000
Cotting School 453 Concord Avenue Lexington,MA02421			Schools, Colleges, Universities	50,000
Fidelity House 25 Medford Street Arlington,MA02474			Youth Organizations	50,000
Boys & Girls Club of Greater Lawrence 136 Water Street Lawrence,MA01841			Youth Organizations	50,000
Boys & Girls Club of Greater Lowell 657 Middlesex Street Lowell,MA01851			Youth Organizations	100,000
Massachusetts General Hospital 125 Nashua Street Suite 540 Boston,MA02114			Hospital & Health Organizations	3,000,000
Total ................................. 3a				4,075,000

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2020)

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	(e) Related or exempt function income (See instructions.)
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	3,051
4 Dividends and interest from securities....			14	2,698,392
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	-187,404
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		2,514,039	0

13Total. Add line 12, columns (b), (d), and (e)..................

2,514,039

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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 (2020)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2020 AccountingFeesSchedule

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Sullivan Bille, PC	12,500	0		12,500

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AMERICAN TOWER CORP CPN: 0.047% Due: 03-15-2022	5,316	5,316
CENTURYLINK CPN: 0.058% Due: 03-12-2022	75,230	75,230
MASCO CORP CPN: 0.0595% Due: 03-15-2022	129,874	129,874
VERISK ANALYTICS INC CPN: 0.04125% Due: 09-12-2022	291,510	291,510
MICROCHIP TECHNOLOGY INC CPN: 0.04333% Due: 06-01-2023	326,922	326,922
GLOBAL PAYMENTS INC CPN: 0.0375% Due: 06-01-2023	318,400	318,400
REYNOLDS AMERICAN INC CPN: 0.0485% Due: 09-15-2023	293,691	293,691
FORTUNE BRANDS HOME & SE CPN: 0.04% Due: 09-21-2023	33,020	33,020
FORTUNE BRANDS HOME & SE CPN: 0.04% Due: 09-21-2023	79,248	79,248
FORTUNE BRANDS HOME & SE CPN: 0.04% Due: 09-21-2023	29,718	29,718
AMC NETWORKS INC CPN: 0.05% Due: 04-01-2024	68,926	68,926
CENTRYLINK INC CPN: 0.075% Due: 04-01-2024	163,478	163,478
CENTRYLINK INC CPN: 0.075% Due: 04-01-2024	82,890	82,890
QVC INC CPN: 0.0485% Due: 04-01-2024	32,689	32,689
WILLIS NORTH AMERICA INC CPN: 0.036% Due: 05-15-2024	326,760	326,760
MOTOROLA SOLUTIONS CPN: 0.04% Due: 09-01-2024	78,014	78,014
SBA COMMUNICATIONS CORP CPN: 0.04875% Due: 09-01-2024	222,979	222,979
SBA COMMUNICATIONS CORP CPN: 0.04875% Due: 09-01-2024	86,489	86,489
ALLEGION US HOLDING CO CPN: 0.032% Due: 10-01-2024	74,248	74,248
ALLEGION US HOLDING CO CPN: 0.032% Due: 10-01-2024	261,483	261,483
KLA-TENCOR CORP CPN: 0.0465% Due: 11-01-2024	155,853	155,853
KLA-TENCOR CORP CPN: 0.0465% Due: 11-01-2024	33,233	33,233
KLA-TENCOR CORP CPN: 0.0465% Due: 11-01-2024	146,685	146,685
CARLISLE COS INC CPN: 0.035% Due: 12-01-2024	330,819	330,819
QVC INC CPN: 0.0445% Due: 02-15-2025	322,130	322,130
BOOKING HOLDINGS CPN: 0.0365% Due: 03-15-2025	91,623	91,623
MASCO CORP CPN: 0.0445% Due: 04-01-2025	164,604	164,604
ZIMMER BIOMET HOLDINGS INC CPN: 0.0355% Due: 04-01-2025	104,666	104,666
BOOKING HOLDINGS INC CPN: 0.041% Due: 04-13-2025	35,432	35,432
BOOKING HOLDINGS INC CPN: 0.041% Due: 04-13-2025	208,021	208,021
DOLLAR TREE CPN: 0.04% Due: 05-15-2025	70,328	70,328
DOLLAR TREE CPN: 0.04% Due: 05-15-2025	217,790	217,790
KOHL's CORP CPN: 0.095% Due: 05-15-2025	48,442	48,442
AMERICAN TOWER CORP CPN: 0.04% Due: 06-01-2025	283,181	283,181
KRAFT HEINZ FOODS COMPANY CPN: 0.0395% Due: 07-15-2025	335,845	335,845
KOHLS CORPORATION CPN: 0.0425% Due: 07-17-2025	325,808	325,808
AMC NETWORK INC CPN: 0.0475% Due: 08-01-2025	47,362	47,362
AMC NETWORK INC CPN: 0.0475% Due: 08-01-2025	54,727	54,727
AMC NETWORK INC CPN: 0.0475% Due: 08-01-2025	154,719	154,719
ZIMMER BIOMET HOLDINGS CPN: 0.0305% Due: 02-15-2026	189,840	189,840
ALTRIA GROUP INC CPN: 0.044% Due: 02-14-2026	40,046	40,046
WESTERN DIGITAL CORP CPN: 0.0475% Due: 02-15-2026	126,893	126,893
WESTERN DIGITAL CORP CPN: 0.0475% Due: 02-15-2026	80,847	80,847
WESTERN DIGITAL CORP CPN: 0.0475% Due: 02-15-2026	129,143	129,143
WESTERN DIGITAL CORP CPN: 0.0475% Due: 02-15-2026	38,180	38,180
CDK GLOBAL INC CPN: 0.05875% Due: 06-15-2021	33,654	33,654
CDK GLOBAL INC CPN: 0.05875% Due: 06-15-2026	55,740	55,740
CDK GLOBAL INC CPN: 0.05875% Due: 06-15-2026	31,551	31,551
FISERV INC CPN: 0.032% Due: 07-01-2026	55,673	55,673
FISERV INC CPN: 0.032% Due: 07-01-2026	95,439	95,439
MOLSON COORS BEVERAGE CPN: 0.03% Due: 07-15-2026	294,769	294,769
UNITED RENTALS NORTH AMERICA INC CPN: 0.05875% Due: 09-15-2026	48,420	48,420
PAYPAL HODINGS INC CPN: 0.0265% Due: 10-01-2026	78,514	78,514
PAYPAL HODINGS INC CPN: 0.0265% Due: 10-01-2026	220,059	220,059
AT&T INC CPN: 0.0425% Due: 03-01-2027	72,218	72,218
CA INC CPN: 0.047% Due: 03-15-2027	130,960	130,960
CA INC CPN: 0.047% Due: 03-15-2027	209,768	209,768
VERIZON COMMUNICATIONS INC CPN: 0.04125% Due: 03-16-2027	332,211	332,211
UNITED RENTALS NORTH AMERICA CPN: 0.055% Due: 05-15-2027	42,540	42,540
UNITED RENTALS NORTH AMERICA CPN: 0.055% Due: 05-15-2027	149,437	149,437
UNITED RENTALS NORTH AMERICA CPN: 0.055% Due: 05-15-2027	44,722	44,722
UNITED RENTALS NORTH AMERICA CPN: 0.055% Due: 05-15-2027	32,723	32,723
CDK GLOBAL INC CPN: 0.04875% Due: 06-01-2027	193,808	193,808
HP INC CPN: 0.03% Due: 06-17-2027	346,837	346,837
CITRIX SYSTEMS INC CPN: 0.045% Due: 12-01-2027	47,188	47,188
CITRIX SYSTEMS INC CPN: 0.045% Due: 12-01-2027	318,510	318,510
AT&T INC CPN: 0.041% Due: 03-01-2027	272,773	272,773
MOTOROLA SOLUTIONS INC CPN: 0.046% Due: 02-23-2028	78,258	78,258
MOTOROLA SOLUTIONS INC CPN: 0.046% Due: 02-23-2028	69,699	69,699
MOTOROLA SOLUTIONS INC CPN: 0.046% Due: 02-23-2028	72,144	72,144
DISCOVERY COMMUNICATIONS CPN: 0.0395% Due: 03-20-2028	351,138	351,138
CDW LLC / CDW FINANCE CORP CPN: 0.0425% Due: 04-01-2028	30,925	30,925
HIS MARKIT LTD CPN: 0.0475% Due: 08-01-2028	184,221	184,221
CDW LLC / CDW FINANCE CORP CPN: 0.0325% Due: 04-01-2028	299,326	299,326
HIS MARKIT LTD CPN: 0.0425% Due: 05-01-2029	62,319	62,319
SERVICE CORP INTERNATIONAL/US CPN: 0.05125% Due: 06-01-2029	321,302	321,302

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBVIE Inc	131,795	131,795
AMC Networks Inc Cl A	53,619	53,619
Autodesk Inc	240,913	240,913
Biogen Inc Com	228,210	228,210
Broadcom Corp Cl A	357,723	357,723
Cerence Inc	43,307	43,307
Citrix Systems Inc	173,163	173,163
Comcast Corp Cl A Special New	380,948	380,948
Cree Research Inc	163,086	163,086
Discovery Communications Ser A	123,700	123,700
Dolby Cla A Com Stk	129,474	129,474
Fireeye Inc	109,904	109,904
Freeport McMoran Inc	96,040	96,040
Guardant Health Inc	135,968	135,968
Immunogen Inc	21,691	21,691
Ionis Pharm Inc	131,342	131,342
Johnson Ctls Intl PLC	178,626	178,626
L-3 Technologies Inc Com	192,989	192,989
Liberty Broadband Corp S-A	15,758	15,758
Liberty Broadband Corp S-C	44,819	44,819
Liberty Media C Ser A SiriusXM	20,904	20,904
Liberty Media C Ser C SiriusXM	42,466	42,466
LIBERTY MEDIA CORP SER A UNSOLICITED TRADE	4,749	4,749
LIBERTY MEDIA CORP SER C UNSOLICITED TRADE	7,540	7,540
Lions Gate Entmnt Corp Cl B	22,898	22,898
Medtronic PLC Shs	88,909	88,909
National Oilwell Varco Inc	48,604	48,604
Now Inc	51,272	51,272
Nuance Communications Inc	92,501	92,501
Nucor Corporation	86,593	86,593
Pentair Ltd	55,638	55,638
QURATE Retail	35,631	35,631
Seagate Technology Holdings	238,384	238,384
TE Connectivity Ltd New	203,155	203,155
Twitter Inc	317,969	317,969
Unitedhealth Gp Inc	450,624	450,624
Vertex Pharmaceuticals	352,383	352,383
Western Digital Corporation	159,357	159,357
ABBVIE INC COM UNSOLICITED TRADE	99,435	99,435
AMGEN INC	20,463	20,463
AMERICAN ELECTRIC POWER CO	42,135	42,135
AT&T INC UNSOLICITED TRADE	89,587	89,587
BCE INC UNSOLICITED TRADE	72,931	72,931
BRISTOL MYERS SQUIBB	32,752	32,752
BRITISH AMER TOB SPON ADR UNSOLICITED TRADE	77,417	77,417
CDN IMPL BK COMMERCE UNSOLICITED TRADE	95,128	95,128
CHEVRON CORP UNSOLICITED TRADE	78,201	78,201
CISCO SYS INC	69,586	69,586
COCA COLA CO UNSOLICITED TRADE	23,033	23,033
CROWN CASTLE INTL CORP	28,654	28,654
DOMINION ENERGY INC UNSOLICITED TRADE	41,886	41,886
DUKE ENERGY CORP NEW UNSOLICITED TRADE	66,473	66,473
EATON CORP PLC SHS	24,629	24,629
ENBRIDGE INC	51,696	51,696
EXXON MOBIL CORP UNSOLICITED TRADE	64,303	64,303
GENERAL MILLS INC	39,866	39,866
GILEAD SCIENCE	75,563	75,563
HUNTINGTON BANCSHARES	49,434	49,434
INTL BUSINESS MACHINES CORP	39,149	39,149
JP MORGAN CHASE	31,132	31,132
KIMBERLY CLARK CO	20,090	20,090
MERCK & CO INC NEW COM	68,385	68,385
3M Company	23,422	23,422
NATIONAL GRID PLC SPON ADR UNSOLICITED TRADE	59,915	59,915
PEPSICO INC NC UNSOLICITED TRADE	60,062	60,062
PUBLIC SERVICE ENTERPRISE GP	23,612	23,612
PFIZER INC	83,890	83,890
PHILIP MORRIS INTL INC UNSOLICITED TRADE	98,023	98,023
PNC FINL SVCS GP	47,531	47,531
PPL CORPORATION UNSOLICITED TRADE	35,729	35,729
REGIONS FINANCIAL CORP NEW	42,057	42,057
SOUTHERN CO UNSOLICITED TRADE	76,358	76,358
TC ENERGY CORP	36,648	36,648
UNILEVER PLC (NEW) ADS	60,722	60,722
VERIZON COMMUNICATIONS UNSOLICITED TRADE	89,594	89,594
VODAFONE GROUP PLC UNSOLICITED TRADE	71,523	71,523
ACCENTURE PLC IRELAND CL A UNSOLICITED TRADE	70,527	70,527
AMERICAN EXPRESS CO	38,449	38,449
AON PLC SHS CL-A UNSOLICITED TRADE	70,775	70,775
BLACKROCK INC	31,026	31,026
BOSTON SCIENTIFIC CORP	32,463	32,463
CHUBB LTD UNSOLICITED TRADE	75,421	75,421
CIGNA CORPORATION COM UNSOLICITED TRADE	84,521	84,521
CITIGROUP INC NEW UNSOLICITED TRADE	79,356	79,356
COMCAST CORP (NEW) CLASS A UNSOLICITED TRADE	101,551	101,551
CONOCOPHILLIPS	21,555	21,555
DANAHER CORPORATION UNSOLICITED TRADE	34,876	34,876
DIAGEO PLC SPON ADR	29,062	29,062
DOMINION ENERGY	23,312	23,312
DUKE ENERGY CORP NEW UNSOLICITED TRADE	63,360	63,360
EATON CORP PLC SHS UNSOLICITED TRADE	60,070	60,070
FIDELITY NATL INFORMATION SE UNSOLICITED TRADE	41,023	41,023
FISERV INC WISCONSIN UNSOLICITED TRADE	45,886	45,886
GOLDMAN SACHS GRP INC UNSOLICITED TRADE	47,468	47,468
HONEYWELL INTERNATIONAL INC UNSOLICITED TRADE	89,759	89,759
ILL TOOL WORKS INC UNSOLICITED TRADE	59,125	59,125
INTEL CORP	32,831	32,831
TRANE TECHNOLOGIES	48,338	48,338
JOHNSON & JOHNSON UNSOLICITED TRADE	107,805	107,805
JPMORGAN CHASE & CO UNSOLICITED TRADE	100,894	100,894
KIMBERLY CLARK CORP UNSOLICITED TRADE	41,662	41,662
LOCKHEED MARTIN CORP	31,238	31,238
LOWES COMPANIES	34,991	34,991
MARSH & MCLENNAN COS INC	41,301	41,301
MCKESSON CORP UNSOLICITED TRADE	35,480	35,480
MEDTRONIC PLC SHS UNSOLICITED TRADE	79,421	79,421
MERCK & CO INC NEW COM	55,379	55,379
NASDAQ INC COM UNSOLICITED TRADE	44,601	44,601
NESTLE SPON ADR REP REG SHR UNSOLICITED TRADE	74,214	74,214
NORTHROP GRUMMAN CP(HLDG CO) UNSOLICITED TRADE	54,850	54,850
NXP SEMICONDUCTORS NV	33,710	33,710
PEPSICO INC NC	29,957	29,957
PIONEER NATURAL RESOURCES	12,756	12,756
PNC FINL SVCS GP UNSOLICITED TRADE	44,104	44,104
PPG INDUSTRIES INC UNSOLICITED TRADE	58,842	58,842
ROCHE HOLDINGS ADR	39,149	39,149
SOUTHERN CO	77,709	77,709
STANLEY BLACK & DECKER INC	48,211	48,211
TEXAS INSTRUMENTS UNSOLICITED TRADE	70,740	70,740
THERMO FISHER SCIENTIFIC UNSOLICITED TRADE	52,633	52,633
TRAVELERS COMPANIES INC COM UNSOLICITED TRADE	31,162	31,162
U S BANCORP COM NEW UNSOLICITED TRADE	37,598	37,598
UNION PACIFIC CORP UNSOLICITED TRADE	60,384	60,384
AKAMAI TECHNOLOGIES INC	52,981	52,981
BOOZ ALLEN HAMILTON HLDG CL-A	67,913	67,913
BURLINGTON STORES INC UNSOLICITED TRADE	81,342	81,342
CHARLES RIVER LABS INTL INC UNSOLICITED TRADE	124,180	124,180
CHURCH & DWIGHT CO INC UNSOLICITED TRADE	82,432	82,432
CIENA CORP NEW	84,349	84,349
CINTAS CORP UNSOLICITED TRADE	115,228	115,228
COOPER CO INC NEW UNSOLICITED TRADE	79,930	79,930
COPART INC UNSOLICITED TRADE	100,909	100,909
DIODES INC	99,546	99,546
ENTEGRIS	99,848	99,848
ETSY INC	84,507	84,507
FIRST REPUBLIC BANK UNSOLICITED TRADE	81,840	81,840
FLOOR & DCOR HLDGS INC CL-A	81,337	81,337
FORTINET	76,939	76,939
GENERAC HLDGS INC COM	145,088	145,088
HORIZON THERAPEUTICS	99,703	99,703
HUNTINGTON INGALLS INDUSTRIES	49,890	49,890
IDEX CORPORATION DELAWARE	73,903	73,903
KEYSIGHT TECHNOLOGIES INC	88,236	88,236
LAMB WESTON HLDGS INC COM UNSOLICITED TRADE	71,338	71,338
MASCO CORP	83,713	83,713
MC CORMICK AND CO NON VOTING UNSOLICITED TRADE	92,158	92,158
METTLER TOLEDO INTL UNSOLICITED TRADE	92,314	92,314
MONOLITHIC PWR SYSTEMS INC UNSOLICITED TRADE	107,305	107,305
NEUROCRINE BIOSCIENCES	50,058	50,058
PAYCOM SOFTWARE INC	98,591	98,591
POOL CORP UNSOLICITED TRADE	92,753	92,753
QUALYS INC COM UNSOLICITED TRADE	80,069	80,069
RAYMOND JAMES FINCL INC UNSOLICITED TRADE	54,781	54,781
RESMED INC UNSOLICITED TRADE	66,106	66,106
SKYWORKS SOLUTIONS INC	88,365	88,365
STERIS PLC UNSOLICITED TRADE	72,025	72,025
SUN COMMUNITIES INC	60,633	60,633
SYNOPSYS INC UNSOLICITED TRADE	104,474	104,474
TAKE TWO INTERACTIVE SOFTWARE	93,506	93,506
TELEDYNE TECH INC	76,436	76,436
WEST PHARMACEUTICAL	83,860	83,860
WILLIAMS SONOMA	94,100	94,100
ZEBRA TECH CL-A	96,467	96,467
ALBANY INTL A NEW	71,144	71,144
ANIKA THERAPEUTICS INC UNSOLICITED TRADE	40,372	40,372
ARMSTRONG WORLD INDS INC	65,314	65,314
BADGER METER INC UNSOLICITED TRADE	35,178	35,178
BANK OF HAWAII CORP UNSOLICITED TRADE	66,583	66,583
BROOKS-AUTOMATION INC UNSOLICITED TRADE	103,403	103,403
CDW CORPORATION UNSOLICITED TRADE	49,158	49,158
CHEESE CAKE FACTORY INC UNSOLICITED TRADE	89,871	89,871
CONSTRUCTION PARTNERS	42,937	42,937
CORELOGIC INC	89,769	89,769
EVERTEC INC	71,641	71,641
FIRST FINANCIAL BANKSHARES INC UNSOLICITED TRADE	64,862	64,862
GRACO INC UNSOLICITED TRADE	95,430	95,430
HOULIHAN LOKEY INC CL A UNSOLICITED TRADE	96,677	96,677
JACK HENRY & ASSOC INC UNSOLICITED TRADE	42,927	42,927
JOHN BEAN TECHNOLOGIES	52,380	52,380
LANDSTAR SYSTEM INC UNSOLICITED TRADE	71,100	71,100
LESLIES INC	51,587	51,587
MGM GROWTH PROPERTIES LLC CL A UNSOLICITED TRADE	89,612	89,612
NATL BEVERAGE CORP UNSOLICITED TRADE	101,880	101,880
PRIMERICA INC UNSOLICITED TRADE	61,072	61,072
RBC BEARINGS INC UNSOLICITED TRADE	85,044	85,044
RLI CORP UNSOLICITED TRADE	64,156	64,156
SITEONE LANDSCAPE SUPPLY INC UNSOLICITED TRADE	138,960	138,960
TERMINIX GLOBAL HOLDINGS INC	97,633	97,633
THE SCOTTS MIRACLE-GRO COMPANY UNSOLICITED TRADE	167,875	167,875
THOR INDUSTRIES INC UNSOLICITED TRADE	74,113	74,113
UNIFIRST CP	53,134	53,134
WATSCO INC UNSOLICITED TRADE	93,339	93,339
WD 40 COMPANY UNSOLICITED TRADE	81,564	81,564
ASTRAZENECA PLC ADS UNSOLICITED TRADE	67,836	67,836
BCE INC UNSOLICITED TRADE	80,892	80,892
BK MONTREAL UNSOLICITED TRADE	79,984	79,984
BRITISH AMER TOB SPON ADR UNSOLICITED TRADE	64,145	64,145
CDN IMPL BK COMMERCE UNSOLICITED TRADE	78,376	78,376
DANONE SPONSORED ADR	68,945	68,945
ENBRIDGE INC UNSOLICITED TRADE	77,608	77,608
ENEL SOCIETA PER AZIONI ADR	70,360	70,360
FORTIS INC UNSOLICITED TRADE	76,905	76,905
INTL BUSINESS MACHINES CORP	58,031	58,031
MUENCHENER RUECK-UNSPONS ADR UNSOLICITED TRADE	104,431	104,431
NATIONAL GRID PLC SPON ADR UNSOLICITED TRADE	104,601	104,601
NESTLE SPON ADR REP REG SHR	63,259	63,259
NOVARTIS AG ADR	69,878	69,878
PHILIP MORRIS INTL INC UNSOLICITED TRADE	94,215	94,215
ROCHE HOLDINGS ADR UNSOLICITED TRADE	65,453	65,453
ROYAL BANK OF CANADA	77,711	77,711
SANOFI ADR UNSOLICITED TRADE	85,713	85,713
SHAW COMMUNIC INC CL B NV UNSOLICITED TRADE	63,023	63,023
TELENOR ASA ADS UNSOLICITED TRADE	79,441	79,441
TELUS CORP NEW UNSOLICITED TRADE	73,458	73,458
TC ENERGY	76,350	76,350
UNILEVER PLC (NEW) ADS UNSOLICITED TRADE	104,362	104,362
VODAFONE GROUP PLC UNSOLICITED TRADE	71,194	71,194
WAL-MART DE MEXICO SA SPON ADR	47,416	47,416
ZURICH INSURANCE GRP LTD ADR UNSOLICITED TRADE	123,831	123,831
TELEFONICA BRASIL SA SPON ADR UNSOLICITED TRADE	44,383	44,383

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
AB HIGH INCOME ADV	FMV	1,848,276	1,848,276
FIDELITY ADV REAL ESTATE INC I	FMV	2,063,325	2,063,325
GUGGENHEIM MACRO OPPORT I	FMV	1,026,119	1,026,119
HARTFORD FLOATING RT HI INC I	FMV	941,526	941,526
JOHN HANCOCK INTL GROWTH I	FMV	2,710,177	2,710,177
OAKMARK INTERNATIONAL ADVISOR	FMV	1,827,948	1,827,948
VANGUARD INFO TECH ETF	FMV	2,618,046	2,618,046
VANGUARD MID CAP VALUE ETF	FMV	2,210,277	2,210,277
VANGUARD SM CAP GROWTH ETF	FMV	2,074,365	2,074,365
MSILF GOVERNMENT PTF INST	FMV	1,747,983	1,747,983

- TIN:

TY 2020 OtherAssetsSchedule

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
Interest receivable		1,517,606	1,517,606

- TIN:

TY 2020 OtherExpensesSchedule

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Filing Fees	500	0		500
Bank Charges	30	30		0

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Description	Amount
Unrealized gain on investments	4,124,880

- TIN:

TY 2020 OtherLiabilitiesSchedule

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Description	Beginning of Year - Book Value	End of Year - Book Value
Excise tax payable	105	10,290
Accrued investment fees	53,221	19,691

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Morgan Stanley	201,159	201,159		0

- TIN:

TY 2020 TaxesSchedule

Name:

Telemachus and Irene Demoulas Family

Foundation

EIN:

04-3582759

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Federal Excise Tax	34,400	0		0