Form990-PF
Click to see attachment
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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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
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$95,842,157J 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      
4 Dividends and interest from securities... 1,993,336 1,993,336  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 5,898,798
b Gross sales price for all assets on line 6a 16,462,798
7 Capital gain net income (from Part IV, line 2)... 5,898,798
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 7,892,134 7,892,134  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 273,768 28,130   245,638
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 15,000 7,500   7,500
c Other professional fees (attach schedule).... Click to see attachment 337,149 334,949   2,200
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 99,450 14,848   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 44 0   44
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 545 0   545
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 725,956 385,427   255,927
25 Contributions, gifts, grants paid....... 3,630,000 3,630,000
26 Total expenses and disbursements. Add lines 24 and 25 4,355,956 385,427   3,885,927
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 3,536,178
b Net investment income (if negative, enter -0-) 7,506,707
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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............. 749,979 150,908 150,908
2 Savings and temporary cash investments......... 1,209,658 1,992,255 1,992,255
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) 2,478,213 Click to see attachment3,484,857 3,484,857
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule)....... 10,915,024 Click to see attachment14,382,363 14,382,363
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans............. 3,569,063 2,926,973 2,926,973
13 Investments—other (attach schedule).......... 71,291,794 Click to see attachment72,904,801 72,904,801
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) 90,213,731 95,842,157 95,842,157
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........... 90,213,731 95,842,157
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)..... 90,213,731 95,842,157
30 Total liabilities and net assets/fund balances (see instructions). 90,213,731 95,842,157
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
90,213,731
2
Enter amount from Part I, line 27a .....................
2
3,536,178
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
2,792,248
4
Add lines 1, 2, and 3 ..........................
4
96,542,157
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
95,842,157
Form 990-PF (2021)
Form 990-PF (2021)
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 LLP FIDUCIARY ACCOUNT P    
b ROPES & GRAY LLP FIDUCIARY ACCOUNT P    
c ROPES & GRAY LLP FIDUCIARY ACCOUNT P    
d ROPES & GRAY LLP FIDUCIARY ACCOUNT P    
e NATIONAL FINANCIAL SERVICES P    
CAPITAL GAINS 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 3,570,508   3,217,946 352,562
b 7,218,746   5,245,084 1,973,662
c 1,157,566   1,166,308 -8,742
d 792,634   819,554 -26,920
e 131,729   115,108 16,621
3,591,615     3,591,615
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       352,562
b       1,973,662
c       -8,742
d       -26,920
e       16,621
      3,591,615
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 5,898,798
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  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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........................... 3 104,343
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- ..... 5 104,343
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 75,697
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 80,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 155,697
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 51,354
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet51,354 RefundedBullet 11 0
Part VI-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 XIV..................................
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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
     
     
    c
    .........bullet
    d
    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? .................
    5d
     
     
    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? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    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     		93,768 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 (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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 AND TAX PREP 296,302
    800 BOYLSTON STREET
    BOSTON,MA021993600
    DOLAN INVESTMENT ADVISORY 53,647
    C/O 800 BOYLSTON STREET
    BOSTON,MA021993600
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-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 VIII-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 (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    94,014,181
    b
    Average of monthly cash balances.......................
    1b
    1,425,468
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    95,439,649
    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
    95,439,649
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    1,431,595
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    94,008,054
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    4,700,403
    Part X
    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 IX, line 6..................
    1
    4,700,403
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    104,343
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    104,343
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    4,596,060
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    4,596,060
    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 XII, line 1 ...
    7
    4,596,060
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 4,596,060
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 1,038,328
    b From 2017...... 1,310,877
    c From 2018...... 1,367,733
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........ 3,716,938
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 3,885,927
    a Applied to 2020, 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 2021 distributable amount..... 3,885,927
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 710,133 710,133
    (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 3,006,805
    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 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		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 2016 not
    applied on line 5 or line 7 (see instructions) ...     		328,195
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		2,678,610
    10 Analysis of line 9:
    a Excess from 2017.... 1,310,877
    b Excess from 2018.... 1,367,733
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    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 (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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 FUND 600,000
    BETH ISRAEL LAHEY HEALTH
    330 BROOKLINE AVENUE
    BOSTON,MA02115     		NONE PUBLIC CHARITY GENERAL FUND 220,000
    BOSTON CHILDREN'S HOSPITAL
    300 LONGWOOD AVENUE
    BOSTON,MA02115     		NONE PUBLIC CHARITY GENERAL FUND 250,000
    BOSTON MEDICAL CENTER
    ONE BOSTON MEDICAL CENTER PL
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL FUND 150,000
    BOSTON UNIVERSITY SCHOOL OF MEDICINE
    72 E CONCORD STREET
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL FUND 160,000
    CITY YEAR
    285 COLUMBUS AVENUE
    BOSTON,MA02116     		NONE PUBLIC CHARITY GENERAL FUND 100,000
    CROSSROADS FOR KIDS
    119 MYRTLE STREET
    DUXBURY,MA02332     		NONE PUBLIC CHARITY GENERAL FUND 100,000
    DANA FARBER CANCER INSTITUTE
    450 BROOKLINE AVE
    BOSTON,MA02115     		NONE PUBLIC CHARITY GENERAL FUND 225,000
    DUXBURY BAY MARITIME SCHOOL
    PO BOX 263A SHS
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL FUND 100,000
    DUXBURY BEACH RESERVATION
    PO BOX 1364
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL FUND 20,000
    DUXBURY SENIOR CENTER
    PO BOX 2113
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL FUND 20,000
    MAKE-A-WISH FOUNDATION
    ONE BULLFINCH PLACE
    BOSTON,MA02114     		NONE PUBLIC CHARITY GENERAL FUND 100,000
    MASS EYE & EAR HOSPITAL
    243 CHARLES STREET
    BOSTON,MA02114     		NONE PUBLIC CHARITY GENERAL FUND 125,000
    MASS GENERAL HOSPITAL
    55 FRUIT STREET
    BOSTON,MA02114     		NONE PUBLIC CHARITY GENERAL FUND 430,000
    PINE STREET INN
    444 HARRISON AVE
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL FUND 100,000
    ROSIE'S PLACE
    889 HARRISON AVE
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL FUND 100,000
    SOUTH SHORE CONSERVATORY
    THE ELLISON CENTER FOR THE ARTS
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL FUND 100,000
    THE PARTRIDGE SCHOLARSHIP FUND
    PO BOX 2552
    DUXBURY,MA02331     		NONE PUBLIC CHARITY GENERAL FUND 25,000
    THE SALVATION ARMY
    147 BERKELEY STREET
    BOSTON,MA02116     		NONE PUBLIC CHARITY GENERAL FUND 75,000
    TUFTS UNIVERSITY SCHOOL OF MEDICINE
    145 HARRISON AVENUE
    BOSTON,MA02111     		NONE PUBLIC CHARITY GENERAL FUND 450,000
    TWOTEN INTERNATIONAL FOOTWEAR FOUNDATION
    1466 MAIN STREET
    WALTHAM,MA02451     		NONE PUBLIC CHARITY GENERAL FUND 30,000
    USS CONSTITUTION MUSEUM
    PO BOX 291812
    BOSTON,MA02129     		NONE PUBLIC CHARITY GENERAL FUND 50,000
    WEST BOYLSTON JRSR HIGH SCHOOL
    ELLISON FUND FOR MUSIC
    WEST BOYLSTON,MA01583     		NONE PUBLIC CHARITY GENERAL FUND 100,000
    Total .................................bullet 3a 3,630,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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 ....          
    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 5,898,798  
    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 7,892,134 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    7,892,134
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 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

    TY 2021 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 $390,070 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 2021 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
    130000 ABBVIE INC NOTE CALL MAKE WHOLE 3.20000% 11/06/2022 132,200 132,200
    93000 ADOBE INC NOTE CALL MAKE WHOLE 1.90000% 02/01/2025 95,258 95,258
    150000 AMERICAN TOWER CORP NOTE CALL MAKE WHOLE 2.70000% 04/15/2031 150,626 150,626
    72000 AMGEN INC NOTE CALL MAKE WHOLE 2.45000% 02/21/2030 73,351 73,351
    61000 ANALOG DEVICES INC NOTE CALL MAKE WHOLE 2.10000% 10/01/2031 61,210 61,210
    100000 ANHEUSER BUSCH INBEV FIN INC NOTE 4.90000% 02/01/2046 125,927 125,927
    90000 APPLE INC NOTE CALL MAKE WHOLE 3.45000% 02/09/2045 100,766 100,766
    95000 AT&T INC NOTE CALL MAKE WHOLE 4.35000% 03/01/2029 106,800 106,800
    109000 AT&T INC NOTE CALL MAKE WHOLE 4.75000% 05/15/2046 132,043 132,043
    200000 BANK AMER CORP MTN 3.87500% 08/01/2025 216,878 216,878
    149000 BOEING CO NOTE CALL MAKE WHOLE 2.19600% 02/04/2026 149,006 149,006
    78000 BOEING CO NOTE CALL MAKE WHOLE 2.60000% 10/30/2025 80,168 80,168
    81000 BRISTOL-MYERS SQUIBB CO NOTE 0.75000% 11/13/2025 78,916 78,916
    70000 CAPITAL ONE FINL CORP NOTE 3.90000% 01/29/2024 73,674 73,674
    104000 CATERPILLAR INC NOTE CALL MAKE WHOLE 2.60000% 04/09/2030 108,481 108,481
    48000 CIGNA CORP NEW NOTE CALL MAKE WHOLE 2.40000% 03/15/2030 48,437 48,437
    180000 CITIGROUP INC NOTE CALL MAKE WHOLE 3.20000% 10/21/2026 190,850 190,850
    104000 COMCAST CORP NEW NOTE CALL MAKE WHOLE 3.55000% 05/01/2028 114,104 114,104
    47000 COMCAST CORP NEW NOTE CALL MAKE WHOLE 4.70000% 10/15/2048 60,049 60,049
    140000 COMMONWEALTH EDISON CO SER 125 BOND 3.70000% 08/15/2028 153,710 153,710
    59000 COSTCO WHOLESALE CORPORATION NOTE 1.37500% 06/20/2027 58,585 58,585
    25000 CVS HEALTH CORP NOTE CALL MAKE WHOLE 4.30000% 03/25/2028 28,075 28,075
    41000 DISCOVERY COMMUNICATIONS LLC 3.62500% 05/15/2030 43,874 43,874
    56000 DISNEY WALT CO NOTE CALL MAKE WHOLE 2.00000% 09/01/2029 55,758 55,758
    125000 DUKE ENERGY CORP NEW NOTE CALL MAKE WHOLE 2.55000% 06/15/2031 125,289 125,289
    130000 ENTERGY MISSISSIPPI LLC BOND 2.85000% 06/01/2028 135,688 135,688
    80000 ENTERPRISE PRODS OPER LLC NOTE 5.95000% 02/01/2041 CALL MAKE WHOLE 106,441 106,441
    120000 FISERV INC NOTE CALL MAKE WHOLE 2.25000% 06/01/2027 122,166 122,166
    85000 GILEAD SCIENCES INC NOTE CALL MAKE WHOLE 1.65000% 10/01/2030 81,558 81,558
    185000 GOLDMAN SACHS GROUP INC NOTE 3.85000% 01/26/2027 198,932 198,932
    66000 HOME DEPOT INC NOTE CALL MAKE WHOLE 2.75000% 09/15/2051 65,811 65,811
    139000 INTERCONTINENTAL EXCHANGE INC NOTE 1.85000% 09/15/2032 133,049 133,049
    215000 JPMORGAN CHASE &CO NOTE 3.30000% 04/01/2026 229,280 229,280
    100000 KINDER MORGAN ENERGY PARTNERS NOTE 4.15000% 03/01/2022 100,554 100,554
    93000 LOWES COS INC NOTE CALL MAKE WHOLE 1.70000% 10/15/2030 88,457 88,457
    125000 MARSH &MCLENNAN COS INC NOTE 3.87500% 03/15/2024 132,225 132,225
    60000 MICROSOFT CORP NOTE CALL MAKE WHOLE 2.52500% 06/01/2050 58,744 58,744
    144000 MORGAN STANLEY SER I MTN 2.69900% 01/22/2031 CALL MAKE WHOLE 147,470 147,470
    120000 ORACLE CORP NOTE CALL MAKE WHOLE 2.87500% 03/25/2031 120,898 120,898
    115000 PROGRESS ENERGY INC NOTE CALL MAKE WHOLE 3.15000% 04/01/2022 115,192 115,192
    80000 RAYTHEON TECHNOLOGIES CORP 3.95000% 08/16/2025 NOTE 86,772 86,772
    50000 SHELL INTERNATIONAL FIN BV NOTE 4.00000% 05/10/2046 58,341 58,341
    90000 SHIRE ACQUISITIONS INVESTMENTS IREL 3.20000% 09/23/2026 NOTE 95,513 95,513
    123000 TEXAS INSTRS INC NOTE CALL MAKE WHOLE 1.37500% 03/12/2025 123,560 123,560
    250000 TORONTO DOMINION BANK MTN 0.75000% 09/11/2025 243,425 243,425
    135000 TOTAL CAP INTL NOTE CALL MAKE WHOLE 2.82900% 01/10/2030 141,489 141,489
    115000 VERIZON COMMUNICATIONS INC 3.55000% 03/22/2051 NOTE CALL MAKE WHOLE 124,307 124,307
    70000 VISA INC NOTE CALL MAKE WHOLE 4.30000% 12/14/2045 88,372 88,372
    126000 VMWARE INC NOTE CALL MAKE WHOLE 2.20000% 08/15/2031 123,709 123,709
    97000 WALMART INC NOTE CALL MAKE WHOLE 4.05000% 06/29/2048 123,715 123,715
    100000 WELLS FARGO &CO SER Q MTN 2.57200% 02/11/2031 CALL MAKE WHOLE 102,189 102,189
    100623.477 METROPOLITAN WEST TOTAL RETURN BOND P 1,029,378 1,029,378
    22296.544 STONERIDGE REINSURAC RISK PREM INTERVAL 843,924 843,924
    28520.066 VANGUARD WELLESLEY INCOME ADMIRAL 2,000,112 2,000,112
    139000 AECOM NOTE CALL MAKE WHOLE 5.12500% 03/15/2027 151,420 151,420
    115000 ALTRIA GROUP INC NOTE CALL MAKE WHOLE 4.40000% 02/14/2026 126,569 126,569
    154000 AMC NETWORKS INC NOTE 4.75000% 08/01/2025 157,273 157,273
    22000 AMERICAN TOWER CORP NOTE CALL MAKE WHOLE 3.50000% 01/31/2023 22,592 22,592
    94000 AMERICAN TOWER CORP NOTE CALL MAKE WHOLE 4.00000% 06/01/2025 100,627 100,627
    13000 AT&T INC NOTE CALL MAKE WHOLE 4.25000% 03/01/2027 14,429 14,429
    99000 AT&T INC SER B NOTE 4.10000% 02/15/2028 CALL MAKE WHOLE 109,935 109,935
    89000 BALL CORP NOTE CALL MAKE WHOLE 4.87500% 03/15/2026 98,034 98,034
    49000 BALL CORP NOTE CALL MAKE WHOLE 5.25000% 07/01/2025 54,023 54,023
    144000 BOYD GAMING CORP SER B NOTE 4.75000% 12/01/2027 146,880 146,880
    126000 BROADCOM CORP/BROADCOM CAYMAN 3.87500% 01/15/2027 SER B NOTE 136,700 136,700
    94000 CARLISLE COS INC NOTE CALL MAKE WHOLE 3.50000% 12/01/2024 99,158 99,158
    26000 CARLISLE COS INC NOTE CALL MAKE WHOLE 3.75000% 11/15/2022 26,477 26,477
    75000 CDK GLOBAL INC SER B NOTE 4.87500% 06/01/2027 77,625 77,625
    150000 CDW LLC / CDW FIN CORP NOTE 4.25000% 04/01/2028 154,875 154,875
    142000 CITRIX SYS INC NOTE CALL MAKE WHOLE 4.50000% 12/01/2027 154,246 154,246
    119000 DISCOVERY COMMUNICATIONS LLC 3.95000% 03/20/2028 129,423 129,423
    115000 DOLLAR TREE INC NOTE CALL MAKE WHOLE 4.00000% 05/15/2025 123,589 123,589
    150000 ENCOMPASS HEALTH CORP NOTE 4.50000% 02/01/2028 154,313 154,313
    133000 HCA INC. NOTE CALL MAKE WHOLE 5.62500% 09/01/2028 155,409 155,409
    142000 HP INC NOTE CALL MAKE WHOLE 3.00000% 06/17/2027 149,429 149,429
    120000 IHS MARKIT LTD NOTE CALL MAKE WHOLE 3.62500% 05/01/2024 125,850 125,850
    116000 KRAFT HEINZ FOODS CO SER B NOTE 3.87500% 05/15/2027 125,374 125,374
    153000 LAMAR MEDIA CORP SER B NOTE 3.75000% 02/15/2028 153,383 153,383
    138000 LUMEN TECHNOLOGIES INC SER Y NOTE 7.50000% 04/01/2024 151,110 151,110
    148000 MICROCHIP TECHNOLOGY INC. SER B NOTE 4.25000% 09/01/2025 153,722 153,722
    27000 MOTOROLA SOLUTIONS INC NOTE 4.00000% 09/01/2024 28,761 28,761
    48000 MOTOROLA SOLUTIONS INC NOTE 4.60000% 02/23/2028 54,232 54,232
    75000 QORVO INC SER B NOTE 4.37500% 10/15/2029 79,594 79,594
    20000 QVC INC NOTE CALL MAKE WHOLE 4.37500% 03/15/2023 20,600 20,600
    49000 QVC INC NOTE CALL MAKE WHOLE 4.45000% 02/15/2025 51,695 51,695
    52000 QVC INC NOTE CALL MAKE WHOLE 4.85000% 04/01/2024 55,498 55,498
    114000 REYNOLDS AMERICAN INC NOTE 4.45000% 06/12/2025 123,089 123,089
    148000 SERVICE CORP INTL NOTE CALL MAKE WHOLE 4.62500% 12/15/2027 154,475 154,475
    149000 SILGAN HOLDINGS INC SER B NOTE 4.12500% 02/01/2028 152,166 152,166
    151000 SPECTRUM BRANDS INC NOTE 5.75000% 07/15/2025 154,209 154,209
    150000 TEGNA INC SER B NOTE 4.62500% 03/15/2028 151,619 151,619
    65000 TELEFLEX INCORPORATED NOTE 4.62500% 11/15/2027 67,600 67,600
    128000 TREEHOUSE FOODS INC NOTE CALL MAKE WHOLE 4.00000% 09/01/2028 122,880 122,880
    90000 TRINITY ACQUISITION PLC NOTE 4.62500% 08/15/2023 94,422 94,422
    145000 UNITED RENTALS NORTH AMER INC NOTE 5.50000% 05/15/2027 150,800 150,800
    117000 WESTERN DIGITAL CORP. NOTE 4.75000% 02/15/2026 127,823 127,823
    29000 WILLIS NORTH AMER INC NOTE 3.60000% 05/15/2024 30,378 30,378
    75000 ZIMMER BIOMET HOLDINGS INC NOTE 3.05000% 01/15/2026 78,385 78,385
    44000 ZIMMER BIOMET HOLDINGS INC NOTE 3.55000% 04/01/2025 46,366 46,366

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    US Government Securities - End of Year Book Value:

    3,484,857
    US Government Securities - End of Year Fair Market Value:

    3,484,857
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2021 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
    242158.533 ARTISAN INTL SMALL-MID CAP INSTL FMV 5,029,633 5,029,633
    153416.944 ARTISAN INTL VALUE FUND INSTL FMV 6,501,810 6,501,810
    89733.555 DRIEHAUS EMERGING MKTS GROWTH INSTL FMV 3,711,380 3,711,380
    142050.665 EDGEWOOD GROWTH FUND INSTL CL FMV 8,592,645 8,592,645
    615739.386 GQG PARTNERS US QUALITY SEL EQ INSTL FMV 10,369,051 10,369,051
    212426.229 JPMORGAN HEDGED EQUITY CLASS I FMV 5,733,384 5,733,384
    232445.722 SPYGLASS GROWTH FUND INSTL FMV 4,156,130 4,156,130
    100575.674 SUNBRIDGE EMERGING MARKETS FUND INSTL FMV 2,971,005 2,971,005
    30118.309 VANGUARD INSTL INDEX INSTL CLASS FMV 12,221,709 12,221,709
    78962.354 VANGUARD SMALL-CAP VALUE INDEX ADMIRAL FMV 6,065,098 6,065,098
    272866.906 WCM FOCUSED INTL GROWTH FUND INSTL FMV 7,552,956 7,552,956

    TY 2021 OtherDecreasesSchedule
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Description Amount
    PRIOR YEAR CHECKS CASHED IN CURRENT YEAR 700,000


    TY 2021 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 45 0   45
    COMMONWEALTH OF MASS FILING FEE 500 0   500


    TY 2021 OtherIncreasesSchedule
    Name:
    THE ELLISON FOUNDATION
     
    ELTON DREW ET AL TRUSTEES
    EIN:
    04-6050704
    Description Amount
    OUTSTANDING CHECKS 100,000
    CHANGE IN NET UNREALIZED GAINS AND LOSSES ON INVESTMENTS 2,692,248


    TY 2021 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 281,302 281,302   0
    INVESTMENT MANAGEMENT FEES - DOLAN 53,647 53,647   0
    COMPUTER WORK 2,200 0   2,200


    TY 2021 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 14,848 14,848   0
    2021 ESTIMATED TAXES PAID 18,000 0   0
    2020 EXCISE TAXES PAID CURRENT YEAR 66,602 0   0