Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
UD HPB FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 1802
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PROVIDENCE, RI029011802
A Employer identification number

20-2279585
B Telephone number (see instructions)

(888) 866-3275
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$16,878,140J 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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 352,545 352,545  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 728,224
b Gross sales price for all assets on line 6a 1,907,528
7 Capital gain net income (from Part IV, line 2)... 728,224
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 30,430 30,430  
12 Total. Add lines 1 through 11........ 1,111,199 1,111,199  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 33,562 20,137   13,425
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 27,358 508   26,850
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 30,699 13,444   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 91,619 34,089 0 40,275
25 Contributions, gifts, grants paid....... 769,950 769,950
26 Total expenses and disbursements. Add lines 24 and 25 861,569 34,089 0 810,225
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 249,630
b Net investment income (if negative, enter -0-) 1,077,110
c Adjusted net income (if negative, enter -0-)... 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......... 227,162 390,764 390,764
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,831,975 Click to see attachment1,361,845 1,443,354
b Investments—corporate stock (attach schedule)....... 6,125,898 Click to see attachment6,245,526 12,986,930
c Investments—corporate bonds (attach schedule)....... 1,671,381 Click to see attachment2,108,056 2,057,092
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........     0
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) 9,856,416 10,106,191 16,878,140
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
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........ 9,856,416 10,106,191
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 9,856,416 10,106,191
31 Total liabilities and net assets/fund balances (see instructions). 9,856,416 10,106,191
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
9,856,416
2
Enter amount from Part I, line 27a .....................
2
249,630
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
145
4
Add lines 1, 2, and 3 ..........................
4
10,106,191
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
10,106,191
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 1500. ADVANCED AUTO PTS INC COM   2011-06-24 2018-05-22
b 30. ALPHABET INC CL A COM   2011-04-12 2018-05-22
c 500. COCA COLA CO COM   2014-02-20 2018-11-30
d 200. COSTCO WHSL CORP NEW COM   2014-01-23 2018-11-30
e 340.37 DENTSPLY SIRONA INC COM   2013-05-28 2018-12-26
6008.63 DENTSPLY SIRONA INC COM   2013-05-24 2018-12-26
3850. GENERAL ELEC CO   2017-09-07 2018-01-24
6150. GENERAL ELEC CO   2009-01-08 2018-01-24
300000. JPMORGAN CHASE & CO UNSECD SR NT   2015-06-25 2018-01-25
800. MASTERCARD INC CL A COM   2010-06-04 2018-05-22
5000. NOVO-NORDISK A S ADR   2005-09-12 2018-05-22
800. PRAXAIR INCORPORATED   2012-10-23 2018-10-31
500. PRAXAIR INCORPORATED   2010-06-04 2018-10-31
800. PRAXAIR INCORPORATED   2010-06-04 2018-10-31
400. TIFFANY & COMPANY NEW   2012-12-04 2018-05-22
400. TIFFANY & COMPANY NEW   2012-12-04 2018-06-19
200. WATERS CORP   2012-10-23 2018-05-22
500. HEINEKEN HLDG NV COM   2011-03-30 2018-05-22
CAPITAL GAIN DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 174,068   87,315 86,753
b 32,554   8,655 23,899
c 24,966   18,701 6,265
d 46,256   22,533 23,723
e 12,047   13,164 -1,117
212,661   228,799 -16,138
63,412   92,182 -28,770
101,295   98,639 2,656
300,000   300,000  
152,841   15,941 136,900
243,676   26,093 217,583
130,764   83,386 47,378
81,728   37,523 44,205
130,764   60,036 70,728
40,713   23,287 17,426
54,302   23,287 31,015
39,257   15,911 23,346
49,006   23,852 25,154
      17,218
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       86,753
b       23,899
c       6,265
d       23,723
e       -1,117
      -16,138
      -28,770
      2,656
       
      136,900
      217,583
      47,378
      44,205
      70,728
      17,426
      31,015
      23,346
      25,154
       
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 2 728,224
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 794,120 17,076,179 0.046505
2016 837,783 16,102,080 0.052029
2015 746,613 16,327,847 0.045726
2014 716,557 16,184,633 0.044274
2013 843,284 15,317,155 0.055055
2
Total of line 1, column (d) .....................
2
0.243589
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.048718
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
17,755,912
5
Multiply line 4 by line 3......................
5
865,033
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
10,771
7
Add lines 5 and 6........................
7
875,804
8
Enter qualifying distributions from Part XII, line 4,.............
8
810,225
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 21,542
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 21,542
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 21,542
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 10,400
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  
7 Total credits and payments. Add lines 6a through 6d.............. 7 10,400
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 11,142
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 taxBullet0 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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 addressbullet  
    14
    The books are in care ofbulletUS TRUST FIDUCIARY TAX SERVICES Telephone no.bullet (888) 866-3275

    Located atbulletPO BOX 1802PROVIDENCERI ZIP+4bullet029011802
    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
    BANK OF AMERICA N A TRUSTEE
    1     		33,562    
    114 W 47TH ST
    NEW YORK,NY10036
    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
    NONE
    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.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    17,318,557
    b
    Average of monthly cash balances.......................
    1b
    707,750
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    18,026,307
    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
    18,026,307
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    270,395
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    17,755,912
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    887,796
    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
    887,796
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    21,542
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    21,542
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    866,254
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    866,254
    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
    866,254
    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
    810,225
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    810,225
    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
    810,225
    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 7 866,254
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 753,450
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 0
    b From 2014...... 0
    c From 2015...... 0
    d From 2016...... 0
    e From 2017...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 810,225
    a Applied to 2017, but not more than line 2a 753,450
    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..... 56,775
    e Remaining amount distributed out of corpus 0
    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 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 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 ..........     		809,479
    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 ......     		0
    10 Analysis of line 9:
    a Excess from 2014.... 0
    b Excess from 2015.... 0
    c Excess from 2016.... 0
    d Excess from 2017.... 0
    e Excess from 2018.... 0
    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
    AMERICAN RED CROSS
    431 18TH STREET NW
    WASHINGTON,DC200065310     		N/A PC HURRICANE MICHAEL RELIEF 25,000
    CONCORD ACADEMY
    166 MAIN STREET
    CONCORD,MA01742     		N/A PC UNRESTRICTED GENERAL 10,000
    GAINING GROUND INC
    PO BOX 374
    CONCORD,MA017420374     		N/A PC UNRESTRICTED GENERAL 25,000
    BOSTON PUBLIC LIBRARY
    700 BOYLSTON STREET
    BOSTON,MA02116     		N/A PC WRITER-IN-RESIDENCE PROGRAM 30,000
    BENNINGTON COUNTY
    MEALS PROGRAM
    124 PLEASANT STREET
    BENNINGTON,VT05201     		N/A PC UNRESTRICTED GENERAL 22,500
    GLOBAL HUNGER PROJECT
    5 UNION SQUARE WEST
    NEW YORK,NY10003     		N/A PC UNRESTRICTED GENERAL 30,000
    WATKINSON SCHOOL
    180 BLOOMFIELD AVENUE
    HARTFORD,CT061051096     		N/A PC JOHN BRACKER ENDOWED CHAIR 79,950
    FISHER HOUSE
    FOUNDATION INC
    111 ROCKVILLE PIKE STE 420
    ROCKVILLE,MD208505168     		N/A PC UNRESTRICTED GENERAL 50,000
    WOUNDED WARRIOR
    PROJECT
    4899 BELFORT RD STE 300
    JACKSONVILLE,FL32256     		N/A PC UNRESTRICTED GENERAL 50,000
    ARMAND HAMMER
    UNITED WORLD COLLEGE
    PO BOX 248
    MONTEZUMA,NM87731     		N/A PC UNRESTRICTED GENERAL 30,000
    I AM ACCEPTANCE INC
    177 WEIR ST
    HEMPSTEAD,NY115507629     		N/A PC UNRESTRICTED GENERAL 20,000
    DEPRESSION AND BIPOLAR
    SUPPORT ALLIANCE
    55 E JACKSON STE 490
    CHICAGO,IL60604     		N/A PC CONSULTING EXPENSES 135,000
    AMERICAN RED CROSS
    4655 SHERWOOD COMMON BLVD
    BATON ROUGE,LA70816     		N/A PC CALIFORNIA WILDFIRES RELIEF 25,000
    LAHEY HOSPITAL AND MEDICAL
    CENTER
    41 MALL RD
    BURLINGTON,MA018050001     		N/A PC TRAUMA CENTER 50,000
    HUMANITY IN UNITY
    1777 S HARRISON ST STE 1505
    DENVER,CO80210     		N/A PC UNRESTRICTED GENERAL 50,000
    BROC-COMMUNITY ACTION
    45 UNION ST
    RUTLAND,VT057013956     		N/A PC UNRESTRICTED GENERAL 22,500
    WRITERS WITHOUT MARGINS INC
    3 CONCORD AVE APT 34
    CAMBRIDGE,MA021383616     		N/A PC UNRESTRICTED GENERAL 15,000
    THE RED SOX FOUNDATION
    4 YAWKEY WAY
    BOSTON,MA02215     		N/A PC UNRESTRICTED GENERAL 25,000
    PRESIDENT & FELLOWS OF
    MIDDLEBURY COLLEGE
    152 MAPLE ST
    MIDDLEBURY,VT057531370     		N/A PC UNRESTRICTED GENERAL 10,000
    MAD IN AMERICA FOUNDATION
    763 MASSACHUSETTS AVE
    BOSTON,MA02139     		N/A PC UNRESTRICTED GENERAL 5,000
    FOUNDATION FOR EXCELLENCE
    IN EDUCATION
    215 SOUTH MONROE ST
    TALLAHASSEE,FL32301     		N/A PC UNRESTRICTED GENERAL 10,000
    TEAM RUBICON
    6171 W CENTURY BLVD STE 310
    LOS ANGELES,CA90045     		N/A PC UNRESTRICTED GENERAL 50,000
    Total .................................bullet 3a 769,950
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    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....     14 352,545  
    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 ............     		    18 728,224  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOID INCOME ON USGI     		    1 30,430  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   1,111,199  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,111,199
    (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 GeneralExplanationAttachment
    Name:
    UD HPB FOUNDATION
    EIN:
    20-2279585
    Identifier Return Reference Explanation
    FEDERAL FOOTNOTE PART VIII LIST OF OFFICERS AND DIRECTORS THE COMPENSATION SHOWN ON THE RETURN THAT IS PAID TO BANK OF AMERICA, N.A. AS CORPORATE TRUSTEE IS NOT CALCULATED BASED UPON AN HOURLY RATE FOR THE TIME SPENT BY THE TRUSTEE; RATHER, BANK OF AMERICA'S COMPENSATION AS CORPORATE TRUSTEE IS CALCULATED USING A MARKET VALUE FEE SCHEDULE. THE TRUST OFFICER'S TIME SPENT PERFORMING ADMINISTRATIVE RESPONSIBILITIES FOR THIS FOUNDATION AVERAGES ONE HOUR PER WEEK. IN ADDITION, TIME IS SPENT BY OTHER STAFF MEMBERS FOR RECORDKEEPING, INVESTMENT MANAGEMENT, INCOME COLLECTION, RENDERING STATEMENTS AND ACCOUNTINGS, REGULATORY REPORTING, REGULATORY COMPLIANCE, AND TAX SERVICES.

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    UD HPB FOUNDATION
    EIN:
    20-2279585
    Name of Bond End of Year Book Value End of Year Fair Market Value
    459200AG6 IBM CORP DEB 277,530 261,068
    92343VAX2 VERIZON COMMUNICATIO 210,048 206,490
    929903DT6 WACHOVIA CORP NEW NT    
    46625HJG6 JPMORGAN CHASE & CO    
    0258M0DT3 AMERICAN EXPRESS CR 252,660 247,378
    94974BFC9 WELLS FARGO & CO NEW 311,206 299,001
    92826CAD4 VISA INC UNSECD SR N 305,185 294,807
    037833CG3 APPLE INC UNSECD SR 248,653 246,893
    172967HD6 CITIGROUP INC SR UNS 502,774 501,455

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    UD HPB FOUNDATION
    EIN:
    20-2279585
    Name of Stock End of Year Book Value End of Year Fair Market Value
    166764100 CHEVRON CORP COM 69,546 108,790
    30231G102 EXXON MOBIL CORP COM 132,407 148,995
    74005P104 PRAXAIR INC COM    
    291011104 EMERSON ELEC CO COM 91,317 119,500
    302130109 EXPEDITORS INTL WASH 148,386 272,360
    369604103 GENERAL ELEC CO COM    
    88579Y101 3M CO COM 118,364 476,350
    00751Y106 ADVANCED AUTO PTS IN    
    5756029#6 BAYER MOTOREN WERK E 146,407 161,641
    886547108 TIFFANY & CO NEW COM 154,553 217,377
    B0CCH46#4 HEINEKEN HLDG NV COM 213,615 547,997
    25243Q205 DIAGEO PLC SPONSORED 176,634 567,200
    5962280#4 LINDT & SPRUENGLI AG 95,381 247,515
    609207105 MONDELEZ INTL INC CO 79,020 184,138
    641069406 NESTLE S A SPONSORED 185,715 348,128
    713448108 PEPSICO INC COM 163,461 331,440
    742718109 PROCTER & GAMBLE CO 109,272 204,522
    871829107 SYSCO CORP COM 146,423 313,300
    904784709 UNILEVER N V NEW NEW 142,741 242,100
    002824100 ABBOTT LABS COM 201,257 542,475
    075887109 BECTON DICKINSON & C 99,877 315,448
    478160104 JOHNSON & JOHNSON CO 219,731 429,091
    670100205 NOVO-NORDISK A S ADR 66,952 598,910
    941848103 WATERS CORP COM 182,974 433,895
    084670702 BERKSHIRE HATHAWAY I 183,202 643,167
    037833100 APPLE INC COM 26,545 331,254
    053015103 AUTOMATIC DATA PROCE 139,553 576,928
    57636Q104 MASTERCARD INC CL A 79,703 754,600
    718172109 PHILIP MORRIS INTL I 126,069 100,140
    026874784 AMERICAN INTL GROUP 209,288 236,460
    126804301 CABELAS INC COM    
    191216100 COCA COLA CO COM 261,819 331,450
    22160K105 COSTCO WHSL CORP NEW 191,528 346,307
    311900104 FASTENAL CO COM 266,827 339,885
    500754106 KRAFT HEINZ CORP COM 40,326 65,980
    02079K107 ALPHABET INC CL C CO 111,091 415,280
    02079K305 ALPHABET INC CL A CO 102,821 386,635
    169656105 CHIPOTLE MEXICAN GRI    
    24906P109 DENTSPLY SIRONA INC    
    G47567105 IHS MARKIT LTD COM 175,382 255,872
    808513105 SCHWAB CHARLES CORP 195,299 290,710
    949746101 WELLS FARGO & CO NEW 193,108 184,320
    G5494J103 LINDE PLC COM 343,256 327,684
    911312106 UNITED PARCEL SVC IN 226,751 243,825
    30303M102 FACEBOOK INC CL A CO 178,510 144,199
    6622691#6 NASPERS LTD N SHS CO 250,415 201,062

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    UD HPB FOUNDATION
    EIN:
    20-2279585
    US Government Securities - End of Year Book Value:

    1,361,845
    US Government Securities - End of Year Fair Market Value:

    1,443,354
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2018 OtherIncomeSchedule2
    Name:
    UD HPB FOUNDATION
    EIN:
    20-2279585
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OID INCOME ON USGI 30,430 30,430  


    TY 2018 OtherIncreasesSchedule
    Name:
    UD HPB FOUNDATION
    EIN:
    20-2279585
    Description Amount
    ADJ CARRYING VALUE 8
    SALES ADJUSTMENT 137


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    UD HPB FOUNDATION
    EIN:
    20-2279585
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GRANTMAKING FEES - BOA 26,850     26,850
    INVESTMENT ADVISORY FEES 508 508    


    TY 2018 TaxesSchedule
    Name:
    UD HPB FOUNDATION
    EIN:
    20-2279585
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 13,444 13,444   0
    EXCISE TAX - PRIOR YEAR 6,855 0   0
    EXCISE TAX ESTIMATES 10,400 0   0