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
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
THE ELLISON FOUNDATION
ELTON DREW ET AL TRUSTEES
Number and street (or P.O. box number if mail is not delivered to street address)CO ROPES GRAY LLP 800 BOYLSTON
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BOSTON, MA021993600
A Employer identification number

04-6050704
B Telephone number (see instructions)

(781) 584-4755
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$90,213,731J Accounting method:
MOD CASH
(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 543,776 543,776  
4 Dividends and interest from securities... 952,522 952,522  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,704,738
b Gross sales price for all assets on line 6a 37,071,371
7 Capital gain net income (from Part IV, line 2)... 3,704,738
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)....... Click to see attachment 53,404 0  
12 Total. Add lines 1 through 11........ 5,254,440 5,201,036  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 302,530 36,759   265,771
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 16,890 8,445   8,445
c Other professional fees (attach schedule).... Click to see attachment 289,167 289,167   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 69,985 11,697   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 890 390   500
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 679,462 346,458   274,716
25 Contributions, gifts, grants paid....... 2,605,000 2,605,000
26 Total expenses and disbursements. Add lines 24 and 25 3,284,462 346,458   2,879,716
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,969,978
b Net investment income (if negative, enter -0-) 4,854,578
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 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............. 40,199 749,979 749,979
2 Savings and temporary cash investments......... 2,541,506 1,209,658 1,209,658
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 4,166,388 Click to see attachment2,478,213 2,478,213
b Investments—corporate stock (attach schedule)....... 8,837,482 0 0
c Investments—corporate bonds (attach schedule)....... 7,271,732 Click to see attachment10,915,024 10,915,024
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans............. 4,946,183 3,569,063 3,569,063
13 Investments—other (attach schedule).......... 51,606,693 Click to see attachment71,291,794 71,291,794
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) 79,410,183 90,213,731 90,213,731
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 79,410,183 90,213,731
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
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)..... 79,410,183 90,213,731
30 Total liabilities and net assets/fund balances (see instructions). 79,410,183 90,213,731
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
79,410,183
2
Enter amount from Part I, line 27a .....................
2
1,969,978
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
9,533,570
4
Add lines 1, 2, and 3 ..........................
4
90,913,731
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
700,000
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
90,213,731
Form 990-PF (2020)
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 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a ROPES & GRAY FIDUCIARY ACCOUNT P   2020-12-31
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 36,288,091   33,366,633 2,921,458
b 783,280     783,280
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       2,921,458
b       783,280
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 3,704,738
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
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 Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 67,479
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 67,479
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 67,479
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 49,288
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 58,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 107,288
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 112
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 39,697
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet39,697 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 the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? 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 (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletELTON DREW Telephone no.bullet (781) 584-4755

    Located atbullet2 CAPTAIN DANIEL ROADSOUTH YARMOUTHMA ZIP+4bullet02664
    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 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
    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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 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.)..................
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    ANDREW SILVERMAN TRUSTEE
    4.00     		80,000 0 0
    665 FRANKLIN STREET
    FRAMINGHAM,MA01702
    ELTON F DREW TRUSTEE
    15.00     		100,000 0 0
    2 CAPTAIN DANIEL ROAD
    SOUTH YARMOUTH,MA02664
    MARTIN HALL TRUSTEE
    3.00     		122,530 0 0
    ROPES GRAY 800 BOYLSTON ST
    BOSTON,MA021993600
    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 (2020)
    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
    ROPES & GRAY LLP INVESTMENT ADVISORY 183,795
    800 BOYLSTON STREET
    BOSTON,MA021993600
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    76,641,343
    b
    Average of monthly cash balances.......................
    1b
    2,847,814
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    79,489,157
    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
    79,489,157
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,192,337
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    78,296,820
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,914,841
    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.)
    1
    Minimum investment return from Part X, line 6....................
    1
    3,914,841
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    67,479
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    67,479
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,847,362
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,847,362
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    3,847,362
    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
    2,879,716
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    2,879,716
    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
    2,879,716
    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)
    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 3,847,362
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 1,210,169
    b From 2016...... 1,038,328
    c From 2017...... 1,310,877
    d From 2018...... 1,367,733
    e From 2019......  
    fTotal of lines 3a through e........ 4,927,107
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 2,879,716
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 2,879,716
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 967,646 967,646
    (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 3,959,461
    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 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		242,523
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		3,716,938
    10 Analysis of line 9:
    a Excess from 2016.... 1,038,328
    b Excess from 2017.... 1,310,877
    c Excess from 2018.... 1,367,733
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (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 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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 (2020)
    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)
    aPaid during the year
    AMERICAN CANCER SOCIETY
    1025 CONNECTICUT AVENUE
    WASHINGTON,DC20004     		NONE PUBLIC CHARITY GENERAL 500,000
    BETH ISRAEL DEACONESS MEDICAL CTR
    330 BROOKLINE AVENUE
    BOSTON,MA02115     		NONE PUBLIC CHARITY GENERAL 225,000
    BRIGHAM AND WOMEN'S HOSPITAL
    75 FRANCIS STREET
    BOSTON,MA02115     		NONE PUBLIC CHARITY GENERAL 110,000
    CITY YEAR
    285 COLUMBUS AVENUE
    BOSTON,MA02116     		NONE PUBLIC CHARITY GENERAL 100,000
    CROSSROADS FOR KIDS
    119 MYRTLE STREET
    DUXBURY,MA02332     		NONE PUBLIC CHARITY GENERAL 100,000
    DANA FARBER CANCER INSTITUTE
    450 BROOKLINE AVE
    BOSTON,MA02115     		NONE PUBLIC CHARITY GENERAL 125,000
    DUXBURY BAY MARITIME SCHOOL
    PO BOX 263A SHS
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL 100,000
    DUXBURY BEACH RESERVATION
    PO BOX 1364
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL 20,000
    DUXBURY SENIOR CENTER
    PO BOX 2113
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL 20,000
    LAHEY CLINIC
    41 BURLINGTON MALL ROAD
    BURLINGTON,MA01805     		NONE PUBLIC CHARITY GENERAL 125,000
    MAKE-A-WISH FOUNDATION
    ONE BULLFINCH PLACE
    BOSTON,MA02114     		NONE PUBLIC CHARITY GENERAL 100,000
    PINE STREET INN
    444 HARRISON AVE
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL 100,000
    ROSIE'S PLACE
    889 HARRISON AVE
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL 100,000
    SOUTH SHORE CONSERVATORY
    THE ELLISON CENTER FOR THE ARTS
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL 100,000
    THE PARTRIDGE SCHOLARSHIP FUND
    PO BOX 2552
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL 25,000
    THE SALVATION ARMY
    147 BERKELEY STREET
    BOSTON,MA02116     		NONE PUBLIC CHARITY GENERAL 75,000
    TUFTS UNIVERSITY SCHOOL OF MEDICINE
    145 HARRISON AVENUE
    BOSTON,MA02111     		NONE PUBLIC CHARITY GENERAL 150,000
    TWOTEN INTERNATIONAL FOOTWEAR FOUNDATION
    1466 MAIN STREET
    WALTHAM,MA02451     		NONE PUBLIC CHARITY GENERAL 30,000
    USS CONSTITUTION MUSEUM
    PO BOX 291812
    BOSTON,MA02129     		NONE PUBLIC CHARITY GENERAL 50,000
    WEST BOYLSTON JRSR HIGH SCHOOL
    ELLISON FUND FOR MUSIC
    WEST BOYLSTON,MA01583     		NONE PUBLIC CHARITY GENERAL 100,000
    UMASS MEDICAL SCHOOL - WATTS LAB
    368 PLNATATION ST ALBERT SHERMAN
    CTR
    WORCESTER,MA01605     		NONE PUBLIC CHARITY GENERAL 250,000
    BRIGHAM AND WOMEN'S HOSPITAL
    75 FRANCIS STREET
    BOSTON,MA02115     		NONE PUBLIC CHARITY COVID-19 RESPONSE FUND 100,000
    Total .................................bullet 3a 2,605,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    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
    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 ...........     		    14 543,776  
    4 Dividends and interest from securities....     14 952,522  
    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.....     14 53,404  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 3,704,738  
    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 5,254,440 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    5,254,440
    (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 (2020)
    Form 990-PF (2020)
    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 instructions.
    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 (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ROPES & GRAY LLP TAX PREP 15,000 7,500   7,500
    DELOITTE TAX PREP 1,890 945   945

    TY 2020 GeneralExplanationAttachment
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Identifier Return Reference Explanation
      FORM 990-PF, PART VII-B, LINE 1(A)(4) FORM 990-PF - PART VII-B, LINE 1(A)(4) - OFFICERS AND COMPENSATIONTHE TRUSTEE, MARTIN HALL, IS A PARTNER OF ROPES & GRAY, LLP AND BY AGREEMENT WITH ROPES & GRAY, LLP, TURNS OVER ALL FEES RECEIVED TO THE FIRM.PAYMENTS IN THE AMOUNT OF $321,325 WERE MADE TO ROPES & GRAY LLP, 800 BOYLSTON STREET, BOSTON, MA 02199-3600 FOR TAX PREP, INVESTMENT ADVISORY AND TRUSTEE FEES. MARTIN HALL IS A PARTNER OF THE FIRM HAVING MORE THAN 300 ACTIVE PARTNERS. PAYMENTS FOR THESE SERVICES WERE MADE IN ACCORDANCE WITH THE TRUST DOCUMENTS.

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Name of Bond End of Year Book Value End of Year Fair Market Value
    40000 ABBVIE +C10:C125INC 2.300% 5/14/21 40,221 40,221
    130000 ABBVIE INC 3.200% 11/06/22 136,107 136,107
    93000 ADOBE INC 1.900% 2/01/25 98,348 98,348
    108000 ALPHABET INC 1.100% 8/15/30 106,524 106,524
    72000 AMGEN INC 2.450% 2/21/30 77,099 77,099
    100000 ANHEUSER-BUSCH 4.900% 2/01/46 128,501 128,501
    90000 APPLE INC 3.450% 2/09/45 109,225 109,225
    95000 AT&T INC 4.350% 3/01/29 113,303 113,303
    109000 AT&T INC 4.750% 5/15/46 134,453 134,453
    200000 BANK OF AMER CRP MTN 3.875% 8/01/25 227,960 227,960
    78000 BOEING CO 2.600% 10/30/25 81,375 81,375
    81000 BRISTOL-MYERS SQUIBB 0.750% 11/13/25 81,556 81,556
    70000 CAPITAL ONE FINL CO 3.900% 1/29/24 76,677 76,677
    104000 CATERPILLAR INC 2.600% 4/09/30 114,644 114,644
    48000 CIGNA CORP 2.400% 3/15/30 51,179 51,179
    180000 CITIGROUP INC 3.200% 10/21/26 201,181 201,181
    104000 COMCAST CORP 3.550% 5/01/28 119,852 119,852
    47000 COMCAST CORP 4.700% 10/15/48 65,666 65,666
    140000 COMMONWEALTH EDISON 3.700% 8/15/28 165,130 165,130
    59000 COSTCO WHOLESALE CO 1.375% 6/20/27 60,787 60,787
    63000 CVS HEALTH CORP 4.300% 3/25/28 74,967 74,967
    41000 DISCOVERY COMMUN 3.625% 5/15/30 46,966 46,966
    30000 DOMINION RES 2.000% 8/15/21 30,251 30,251
    75000 DTE ENERGY CO 2.600% 6/15/22 77,348 77,348
    130000 ENTERGY MISSISSIPPI 2.850% 6/01/28 143,541 143,541
    80000 ENTERPRISE PRODUCTS 5.950% 2/01/41 109,985 109,985
    120000 FISERV INC 2.250% 6/01/27 127,890 127,890
    85000 GILEAD SCIENCES INC 1.650% 10/01/30 85,292 85,292
    185000 GOLDMAN SACHS GROUP 3.850% 1/26/27 211,122 211,122
    40000 HOME DEPOT INC 2.950% 6/15/29 45,468 45,468
    139000 INTERCONTINENTAL EXC 1.850% 9/15/32 139,963 139,963
    215000 JPMORGAN CHASE & CO 3.300% 4/01/26 240,632 240,632
    100000 KINDER MORGAN ENRGY 4.150% 3/01/22 104,237 104,237
    93000 LOWE'S COS INC 1.700% 10/15/30 94,226 94,226
    125000 MARSH & MCLENNAN 3.875% 3/15/24 137,870 137,870
    60000 MICROSOFT CORP 2.525% 6/01/50 63,272 63,272
    210000 MORGAN STANLEY MTN 3.125% 7/27/26 234,732 234,732
    95000 MPLX LP 4.800% 2/15/29 114,813 114,813
    166000 ORACLE CORP 2.500% 4/01/25 178,410 178,410
    115000 PROGRESS ENERGY MTN 3.150% 4/01/22 118,089 118,089
    50000 SHELL INTL FIN 4.000% 5/10/46 62,971 62,971
    90000 SHIRE ACQ INV IRELAN 3.200% 9/23/26 100,681 100,681
    123000 TEXAS INSTRUMENTS 1.375% 3/12/25 127,560 127,560
    250000 TORONTO-DOMINION MTN 0.750% 9/11/25 250,935 250,935
    135000 TOTAL CAPITAL INTL 2.829% 1/10/30 150,440 150,440
    80000 UNITED TECH CORP 3.950% 8/16/25 91,753 91,753
    76000 VERIZON COMM INC 3.150% 3/22/30 85,227 85,227
    70000 VISA INC 4.300% 12/14/45 95,882 95,882
    97000 WALMART INC 4.050% 6/29/48 131,634 131,634
    56000 WALT DISNEY COMPANY 2.000% 9/01/29 58,529 58,529
    176000 WELLS FARGO CO V-A 2.188% 4/30/26 185,309 185,309
    154000 AMC NETWORKS INC 4.750% 8/01/25 159,036 159,036
    22000 AMERICAN TOWER CORP 3.500% 1/31/23 23,324 23,324
    94000 AMERICAN TOWER CORP 4.000% 6/01/25 106,163 106,163
    99000 AT&T INC 4.100% 2/15/28 116,390 116,390
    89000 BALL CORP 4.875% 3/15/26 100,526 100,526
    49000 BALL CORP 5.250% 7/01/25 55,920 55,920
    52000 BOOKING HOLDINGS INC 4.500% 4/13/27 61,847 61,847
    126000 BROADCOM CORP 3.875% 1/15/27 141,411 141,411
    18000 CA INC 3.600% 8/15/22 18,543 18,543
    94000 CARLISLE COS INC 3.500% 12/01/24 103,038 103,038
    26000 CARLISLE COS INC 3.750% 11/15/22 27,259 27,259
    144000 CDK GLOBAL INC 5.875% 6/15/26 151,069 151,069
    150000 CDW LLC/CDW FINANCE 4.250% 4/01/28 158,364 158,364
    141000 CENTURYLINK INC 6.450% 6/15/21 143,850 143,850
    142000 CITRIX SYSTEMS INC 4.500% 12/01/27 166,981 166,981
    25000 COACH INC 3.000% 7/15/22 25,543 25,543
    100000 COACH INC 4.250% 4/01/25 107,283 107,283
    86000 DISCOVERY COMMUN LLC 3.950% 3/20/28 98,710 98,710
    115000 DOLLAR TREE INC 4.000% 5/15/25 129,859 129,859
    27000 ENCOMPASS HEALTH 4.500% 2/01/28 28,215 28,215
    142000 HP INC 3.000% 6/17/27 156,684 156,684
    126000 KLA-TENCOR CORP 4.650% 11/01/24 143,417 143,417
    104000 KOHL'S CORPORATION 4.250% 7/17/25 112,459 112,459
    51000 KOHL'S CORPORATION 4.750% 12/15/23 54,541 54,541
    143000 KRAFT HEINZ FOODS CO 3.950% 7/15/25 157,482 157,482
    80000 MASCO CORP 4.450% 4/01/25 91,845 91,845
    59000 MASCO CORP 5.950% 3/15/22 62,821 62,821
    142000 MICROCHIP TECHNOLOGY 4.333% 6/01/23 153,716 153,716
    27000 MOTOROLA SOLUTIONS 4.000% 9/01/24 30,167 30,167
    48000 MOTOROLA SOLUTIONS 4.600% 2/23/28 57,909 57,909
    43000 MOTOROLA SOULT INC 3.500% 3/01/23 45,447 45,447
    143000 OUTFRONT MEDIA CAP 5.625% 2/15/24 144,788 144,788
    43000 QVC INC 4.375% 3/15/23 45,096 45,096
    49000 QVC INC 4.450% 2/15/25 52,322 52,322
    52000 QVC INC 4.850% 4/01/24 56,030 56,030
    114000 REYNOLDS AMERICAN 4.450% 6/12/25 129,845 129,845
    149000 SBA COMMUNICATIONS 4.875% 9/01/24 152,834 152,834
    148000 SERVICE CORP INTL 4.625% 12/15/27 157,620 157,620
    99000 STEEL DYNAMICS INC 2.400% 6/15/25 105,224 105,224
    147000 TEMPUR SEALY INTL 5.500% 6/15/26 152,983 152,983
    90000 TRINITY ACQUISITION 4.625% 8/15/23 99,176 99,176
    145000 UNITED RENTALS NA 5.500% 5/15/27 155,150 155,150
    152000 VALVOLINE INC 4.375% 8/15/25 156,981 156,981
    28000 VERISK ANALYTICS 4.125% 9/12/22 29,659 29,659
    88000 VERISK ANALYTICS INC 4.000% 6/15/25 99,686 99,686
    104000 WESCO DISTRIBUTION 5.375% 6/15/24 106,600 106,600
    46000 WESCO DISTRIBUTION 5.375% 12/15/21 46,028 46,028
    147000 WESTERN DIGITAL CORP 4.750% 2/15/26 162,435 162,435
    29000 WILLIS NORTH AMERICA 3.600% 5/15/24 31,665 31,665
    75000 ZIMMER BIOMET HLDGS 3.050% 1/15/26 82,698 82,698
    44000 ZIMMER HOLDINGS INC 3.550% 4/01/25 48,602 48,602

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    US Government Securities - End of Year Book Value:

    2,478,213
    US Government Securities - End of Year Fair Market Value:

    2,478,213
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2020 InvestmentsOtherSchedule2
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    269465.813 ARTISAN INTL SM/MID-INST FMV 5,534,828 5,534,828
    149591.526 ARTISAN INTL VALUE FD INS FMV 5,962,718 5,962,718
    76809.835 DRIEHAUS EMERGING MKTS GRWTH FD INST FMV 3,775,203 3,775,203
    134255.024 EDGEWOOD GROWTH FUND INS FMV 6,950,383 6,950,383
    52657.799 FIERA CAP EMERG MRKTS-INST FMV 3,182,111 3,182,111
    615739.386 GQG PARTNERS US SEL EQTY-INST FMV 8,780,444 8,780,444
    212426.229 JPMORGAN HEDGED EQUITY-I FMV 5,091,857 5,091,857
    100623.477 MTRPLTN WST TTL RTRN BND-PLN FMV 1,055,540 1,055,540
    255271.061 SPYGLASS GROWTH FUND-INST FMV 5,664,465 5,664,465
    22296.544 STONE RIDGE REINSURANCE RISK PRE FMV 902,341 902,341
    33914.583 VANGUARD INSTITUTIONAL IDX FD FMV 11,241,667 11,241,667
    83058.648 VANGUARD S/C VAL INDX-ADM FMV 5,072,392 5,072,392
    326377.56 WCM FOCUSED INTL GROWTH FD-INS FMV 8,077,845 8,077,845

    TY 2020 OtherDecreasesSchedule
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Description Amount
    OUTSTANDING CHECKS 700,000


    TY 2020 OtherExpensesSchedule
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MISC - ADR AND BANK FEES 390 390   0
    COMMONWEALTH OF MASS 500 0   500


    TY 2020 OtherIncomeSchedule2
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    2019 FEDERAL EXCISE TAX OVERPAYMENT APPLIED TO 2019 8,288 0 8,288
    2019 FEDERAL EXCISE TAX REFUNDED 30,000 0 30,000
    MICROSOFT CORP ACTION 15,116 0 15,116


    TY 2020 OtherIncreasesSchedule
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Description Amount
    CHANGE IN NET UNREALIZED GAINS AND LOSSES ON INVESTMENTS 9,533,570


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES - ROPES AND GRAY 183,795 183,795   0
    INVESTMENT MANAGEMENT FEES - DOLAN 25,659 25,659   0
    INVESTMENT MANAGEMENT FEES - FMI 47,303 47,303   0
    INVESTMENT MANAGEMENT FEES - NBIA LLC 30,410 30,410   0
    COMPUTER WORK 2,000 2,000   0


    TY 2020 TaxesSchedule
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES PAID 11,697 11,697   0
    2020 ESTIMATED TAXES PAID 35,000 0   0
    2019 FEDERAL OVERPAYMENT APPLIED 8,288 0   0
    FEDERAL EXCISE TAXES- 2019 TAXES PAID WITH EXTENSION 15,000 0   0