Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
GALEN COLE FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)405 PERRY ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BANGOR, ME04401
A Employer identification number

23-7425774
B Telephone number (see instructions)

(207) 262-9910
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$39,647,167J Accounting method:
MODIFIED 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) 1,987
2 Check bullet.............
3 Interest on savings and temporary cash investments 59,569 59,569 59,569
4 Dividends and interest from securities... 364,668 364,668 364,668
5a Gross rents............ 18,000 18,000 18,000
b Net rental income or (loss) 18,000
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 3,278,275
b Gross sales price for all assets on line 6a 17,584,732
7 Capital gain net income (from Part IV, line 2)... 3,281,983
8 Net short-term capital gain......... 1,647,779
9 Income modifications...........  
10a Gross sales less returns and allowances 11,264
b Less: Cost of goods sold.... 9,364
c Gross profit or (loss) (attach schedule)..... Click to see attachment 1,900 1,900
11 Other income (attach schedule)....... Click to see attachment 122,824   122,824
12 Total. Add lines 1 through 11........ 3,847,223 3,724,220 2,214,740
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 95,339     95,339
14 Other employee salaries and wages...... 152,769     152,769
15 Pension plans, employee benefits....... 71,250     71,250
16a Legal fees (attach schedule)......... Click to see attachment 435     435
b Accounting fees (attach schedule)....... Click to see attachment 6,345 3,063   3,282
c Other professional fees (attach schedule).... Click to see attachment 24,170     24,170
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,310 1,856   213
19 Depreciation (attach schedule) and depletion... Click to see attachment 60,552    
20 Occupancy.............. 36,421     36,421
21 Travel, conferences, and meetings.......        
22 Printing and publications.......... 3,100     3,100
23 Other expenses (attach schedule)....... Click to see attachment 692,307 116,427 124,724 575,880
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,144,998 121,346 124,724 962,859
25 Contributions, gifts, grants paid....... 0 0
26 Total expenses and disbursements. Add lines 24 and 25 1,144,998 121,346 124,724 962,859
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,702,225
b Net investment income (if negative, enter -0-) 3,602,874
c Adjusted net income (if negative, enter -0-)... 2,090,016
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............. 30,826 156,604 156,604
2 Savings and temporary cash investments......... 857,662 2,321,768 2,321,768
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet   12    
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.............. 22,900 23,959 23,959
9 Prepaid expenses and deferred charges.......... 20,546 20,546 20,546
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 24,979,193 Click to see attachment26,163,142 34,277,317
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet   228,979    
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet2,386,183
Less: accumulated depreciation (attach schedule) bullet1,269,193 1,045,476 Click to see attachment1,116,990 1,401,691
15 Other assets (describe bullet) Click to see attachment1,417,782 Click to see attachment1,445,282 Click to see attachment1,445,282
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 28,603,376 31,248,291 39,647,167
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) Click to see attachment57,310  
23 Total liabilities (add lines 17 through 22)......... 57,310 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........... 28,513,066 31,215,291
25 Net assets with donor restrictions............ 33,000 33,000
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)..... 28,546,066 31,248,291
30 Total liabilities and net assets/fund balances (see instructions). 28,603,376 31,248,291
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
28,546,066
2
Enter amount from Part I, line 27a .....................
2
2,702,225
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
31,248,291
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
31,248,291
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 ORRINGTON LAND P 1994-12-31 2021-03-19
b AMGEN INC P 2021-04-28 2021-09-30
c CSX CORP P 2021-01-08 2021-07-23
d HP INC P 2020-11-09 2021-08-25
e L3HARRIS TECHNOLOGIES P 2020-07-07 2021-01-22
PFIZER INC P 2021-05-14 2021-09-02
WESTERN UNION CO P 2021-03-12 2021-08-23
AMERICAN EXPRESS CO P 2019-12-03 2021-01-28
PFIZER INC P 2020-07-28 2021-09-02
WATER PIPE PROJECT P 2009-10-20 2021-03-19
AMGEN INC P 2021-05-14 2021-09-30
D R HORTON CO P 2020-09-10 2021-01-08
HP INC P 2021-02-18 2021-08-25
L3HARRIS TECHNOLOGIES P 2020-09-09 2021-01-22
POLARIS INDUSTRIES P 2020-11-09 2021-09-02
WESTERN UNION CO P 2021-04-30 2021-08-23
AMGEN INC P 2019-12-03 2021-09-30
S&P GLOBAL INC P 2019-12-03 2021-09-02
LAND KELLEY ROAD P 1988-11-23 2021-12-22
APPLE INC P 2020-03-04 2021-02-18
DANAHER CORP P 2020-05-19 2021-01-22
HP INC P 2021-03-04 2021-08-25
MASTERCARD INC P 2020-01-14 2021-01-08
RAYTHEON TECHNOLOGIES CO P 2021-03-04 2021-09-02
WESTERN UNION CO P 2021-05-04 2021-08-23
APPLE INC P 2019-12-03 2021-02-18
THERMO FISHER SCNTFC P 2020-07-28 2021-08-25
ABBVIE INC P 2021-05-14 2021-09-02
APPLE INC P 2020-03-09 2021-02-18
DANAHER CORP P 2020-07-21 2021-01-22
HP INC P 2020-09-09 2021-08-26
MASTERCARD INC P 2020-08-13 2021-01-08
RAYTHEON TECHNOLOGIES CO P 2021-05-14 2021-09-02
WESTERN UNION CO P 2021-05-14 2021-08-23
APPLE INC P 2019-12-03 2021-03-04
UNITEDHEALTH GRO P 2020-04-21 2021-06-15
ADOBE INC P 2020-07-02 2021-01-28
APPLE INC P 2020-04-03 2021-03-04
FACEBOOK INC P 2021-07-23 2021-09-02
HP INC P 2020-09-10 2021-08-26
MERCK & CO. INC P 2020-08-20 2021-07-23
S&P GLOBAL INC P 2021-05-14 2021-09-02
WHIRLPOOL CORP P 2021-01-28 2021-09-30
BAILLIE GIFFORD DEVELOPED EAFE ALL C P 2020-01-14 2021-03-01
US TREASUR NT P 2021-02-20 2021-03-31
ADOBE INC P 2020-07-07 2021-01-28
BAILLIE GIFFORD EMERGING MARKETS P 2021-03-01 2021-05-14
FHLMC P 2020-05-27 2021-05-20
HP INC P 2020-11-09 2021-08-26
MERCK & CO. INC P 2020-08-27 2021-07-23
TELEFLEX INCORPORATE P 2020-03-25 2021-01-08
WHIRLPOOL CORP P 2021-02-02 2021-09-30
DANAHER CORP P 2020-05-19 2021-08-25
VISA INC P 2019-12-03 2021-02-02
ADOBE INC P 2020-09-09 2021-01-28
BAILLIE GIFFORD EMERGING MARKETS P 2021-03-01 2021-09-02
FORTUEN BRANDS HM&S P 2020-12-18 2021-03-04
ISHARES CORE S&P SMALL CAP ETF P 2020-11-11 2021-03-01
MICROSOFT CORP P 2020-03-04 2021-01-22
TELEFLEX INCORPORATE P 2020-07-21 2021-01-08
WHIRLPOOL CORP P 2021-05-14 2021-09-30
HP INC P 2020-08-11 2021-08-26
VISA INC P 2019-12-03 2021-08-25
ALPHABET INC P 2020-11-09 2021-08-25
BERKSHIRE HATHAWAY P 2021-03-04 2021-09-02
FORTUNE BRANDS HM&S P 2020-12-21 2021-03-04
ISHARES CORE S&P SMALL CAP ETF P 2020-11-19 2021-03-01
NIKE INC P 2020-05-14 2021-04-28
THE TJX COMPANIE P 2020-05-06 2021-04-15
ABBVIE INC P 2020-01-14 2021-01-22
JP MORGAN CHASE & CO P 2019-12-03 2021-01-13
VISA INC P 2019-12-03 2021-11-19
ALPHABET INC P 2020-10-19 2021-08-26
BERKSHIRE HATHAWAY P 2021-05-14 2021-09-02
FORTUNE BRANDS HM&S P 2021-01-08 2021-03-04
JOHNSON & JOHNSON P 2021-02-12 2021-09-02
NIKE INC P 2020-07-21 2021-04-28
THOR INDUSTRIES INC P 2021-01-08 2021-07-23
ABBVIE INC P 2020-01-14 2021-09-02
MASTERCARD INC P 2020-01-14 2021-08-25
VISA INC P 2020-05-14 2021-11-19
ALPHABET INC P 2020-11-09 2021-08-26
CARRIER GLOBAL CORP P 2020-07-30 2021-02-12
FORTUNE BRANDS HM&S P 2021-01-22 2021-03-04
JOHNSON & JOHNSON P 2021-05-14 2021-09-02
NVIDIA CORP P 2020-06-11 2021-01-08
VISA INC P 2020-01-31 2021-01-08
ALPHABET INC P 2020-06-01 2021-08-26
MASTERCARD INC P 2019-12-27 2021-09-02
ZOETIS INC P 2020-04-07 2021-08-25
ALPHABET INC P 2020-11-27 2021-08-26
CARRIER GLOBAL CORP P 2020-07-30 2021-02-12
GENERAC HOLDINGS INC P 2020-12-17 2021-06-21
JP MORGAN ULTRA SHORT P 2020-06-23 2021-05-14
NVIDIA CORP P 2020-07-21 2021-01-08
VISA INC P 2020-07-21 2021-01-08
ALPHABET INC P 2020-07-21 2021-08-26
MASTERCARD INC P 2020-01-14 2021-09-02
JOHNSON & JOHNSON P 2020-07-21 2021-09-02
AMAZON.COM INC P 2020-03-09 2021-02-12
CARRIER GLOBAL CORP P 2020-08-13 2021-02-12
HOME DEPOT INC P 2020-05-14 2021-01-22
LAM RESEARCH CORP P 2020-03-25 2021-01-22
NVIDIA CORP P 2021-02-26 2021-11-08
VISA INC P 2020-07-21 2021-02-02
ALPHABET INC P 2020-08-13 2021-08-26
MICROSOFT CORP P 2020-02-28 2021-06-21
AMAZON.COM INC P 2020-06-16 2021-02-12
CARRIER GLOBAL CORP P 2020-10-19 2021-02-12
HOME DEPOT INC P 2020-06-10 2021-01-22
L3HARRIS TECHNOLOGIES P 2020-02-27 2021-01-08
NVIDIA CORP P 2021-08-30 2021-11-08
WASATCH CORE GROWTH INSTITUTIONAL P 2021-05-14 2021-09-02
AMAZON INC P 2019-12-03 2021-02-12
MICROSOFT CORP P 2020-03-04 2021-06-21
AMAZON.COM INC P 2020-03-16 2021-03-04
CARRIER GLOBAL CORP P 2020-12-18 2021-02-12
HOME DEPOT INC P 2020-07-21 2021-01-22
L3HARRIS TECHNOLOGIES P 2020-02-27 2021-01-22
ORGANON & CO P 2020-08-20 2021-06-21
WCM FOCUSED INTERNATIONAL GROWTH P   2021-09-02
AMAZON INC P 2019-12-03 2021-03-04
MICROSOFT CORP P 2020-02-28 2021-08-25
AMGEN INC P 2021-05-14 2021-09-02
CARRIER GLOBAL CORP P 2021-01-08 2021-02-12
HOME DEPOT INC P 2020-05-14 2021-03-30
L3HARRIS TECHNOLOGIES P 2020-05-07 2021-01-22
ORGANON & CO P 2020-08-27 2021-06-21
WESTERN UNION CO P 2021-03-11 2021-08-23
AMERICAN EXPRESS CO P 2019-12-03 2021-01-22
NVIDIA CORP P 2020-06-11 2021-11-08
(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 95,000   85,438 9,562
b 158,812   174,848 -16,036
c 204,375   198,840 5,535
d 15,138   10,179 4,959
e 44,741   41,601 3,140
36,564   31,719 4,845
219,542   249,589 -30,047
84,158   82,811 1,347
16,199   13,003 3,196
    12,000 -12,000
32,192   37,904 -5,712
181,309   183,883 -2,574
1,911   1,707 204
67,568   67,494 74
51,072   39,463 11,609
27,024   32,250 -5,226
68,675   74,507 -5,832
38,008   22,373 15,635
135,000   151,857 -16,857
88,112   51,516 36,596
14,140   9,621 4,519
41,740   39,739 2,001
21,147   18,741 2,406
36,890   32,478 4,412
52,751   61,950 -9,199
444,672   223,982 220,690
27,448   20,382 7,066
27,014   28,109 -1,095
83,745   44,929 38,816
42,420   35,096 7,324
134,649   91,512 43,137
58,155   54,035 4,120
39,434   39,660 -226
29,294   33,625 -4,331
338,998   179,729 159,269
160,000   163,731 -3,731
47,282   44,599 2,683
226,975   112,564 114,411
143,716   142,054 1,662
58,454   39,367 19,087
206,531   215,559 -9,028
26,829   22,688 4,141
187,204   177,217 9,987
385,828   300,015 85,813
700,000   705,941 -5,941
30,733   29,371 1,362
72,000   77,116 -5,116
400,000   400,000  
67,760   46,052 21,708
213,493   226,258 -12,765
251,916   177,618 74,298
242,748   219,769 22,979
31,996   16,035 15,961
18,271   16,380 1,891
122,932   124,886 -1,954
85,000   92,533 -7,533
177,338   194,367 -17,029
628,451   474,179 154,272
75,079   55,699 19,380
12,189   11,583 606
2,057   2,495 -438
98,442   63,879 34,563
34,920   27,299 7,621
143,001   89,718 53,283
52,863   46,391 6,472
42,777   45,335 -2,558
1,199,379   933,004 266,375
219,808   143,952 75,856
160,000   162,480 -2,480
119,175   95,143 24,032
153,776   143,979 9,797
428,190   389,472 38,718
85,528   46,671 38,857
81,437   82,857 -1,420
94,691   101,186 -6,495
25,310   24,133 1,177
15,701   11,834 3,867
446,338   394,434 51,904
32,079   25,107 6,972
36,017   31,235 4,782
22,010   19,505 2,505
25,659   16,149 9,510
65,224   46,772 18,452
51,499   56,931 -5,432
56,728   55,627 1,101
47,619   33,275 14,344
64,670   60,432 4,238
242,331   121,911 120,420
32,554   28,568 3,986
220,864   139,177 81,687
151,100   94,864 56,236
65,224   47,488 17,736
328,791   188,514 140,277
999,883   1,000,085 -202
15,873   12,420 3,453
3,234   2,954 280
99,783   54,840 44,943
3,427   3,124 303
30,546   26,340 4,206
146,435   82,722 63,713
61,518   49,506 12,012
44,509   36,836 7,673
45,951   19,947 26,004
439,183   198,454 240,729
62,934   61,056 1,878
79,827   42,698 37,129
393,598   236,694 156,904
39,049   31,296 7,753
52,439   46,222 6,217
47,291   43,673 3,618
284,325   327,419 -43,094
154,019   114,090 39,929
227,500   210,029 17,471
42,303   23,032 19,271
72,781   46,754 26,027
75,357   42,683 32,674
164,914   168,187 -3,273
13,909   13,144 765
21,914   25,026 -3,112
8,010   10,797 -2,787
152,000   132,456 19,544
307,455   180,711 126,744
30,232   15,801 14,431
67,637   75,808 -8,171
87,460   97,043 -9,583
142,391   108,205 34,186
57,524   57,998 -474
8,280   11,333 -3,053
175,871   199,565 -23,694
128,862   119,552 9,310
65,573   19,872 45,701
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       9,562
b       -16,036
c       5,535
d       4,959
e       3,140
      4,845
      -30,047
      1,347
      3,196
      -12,000
      -5,712
      -2,574
      204
      74
      11,609
      -5,226
      -5,832
      15,635
      -16,857
      36,596
      4,519
      2,001
      2,406
      4,412
      -9,199
      220,690
      7,066
      -1,095
      38,816
      7,324
      43,137
      4,120
      -226
      -4,331
      159,269
      -3,731
      2,683
      114,411
      1,662
      19,087
      -9,028
      4,141
      9,987
      85,813
      -5,941
      1,362
      -5,116
       
      21,708
      -12,765
      74,298
      22,979
      15,961
      1,891
      -1,954
      -7,533
      -17,029
      154,272
      19,380
      606
      -438
      34,563
      7,621
      53,283
      6,472
      -2,558
      266,375
      75,856
      -2,480
      24,032
      9,797
      38,718
      38,857
      -1,420
      -6,495
      1,177
      3,867
      51,904
      6,972
      4,782
      2,505
      9,510
      18,452
      -5,432
      1,101
      14,344
      4,238
      120,420
      3,986
      81,687
      56,236
      17,736
      140,277
      -202
      3,453
      280
      44,943
      303
      4,206
      63,713
      12,012
      7,673
      26,004
      240,729
      1,878
      37,129
      156,904
      7,753
      6,217
      3,618
      -43,094
      39,929
      17,471
      19,271
      26,027
      32,674
      -3,273
      765
      -3,112
      -2,787
      19,544
      126,744
      14,431
      -8,171
      -9,583
      34,186
      -474
      -3,053
      -23,694
      9,310
      45,701
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 3,281,983
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 1,647,779
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  
3 Add lines 1 and 2........................... 3 50,080
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 50,080
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 25,900
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 43,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. Part VI Line 7 - Original Return Overpayment: -18542 7 50,358
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
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 10 278
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet278 RefundedBullet 11  
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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletME
    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
    Yes
     
    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 addressbulletWWW.COLEMUSEUM.ORG
    14
    The books are in care ofbulletMORGAN KNOX Telephone no.bullet (207) 262-9910

    Located atbullet405 PERRY ROADBANGORME ZIP+4bullet04401
    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)
     
    No
    (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
     
     
    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
     
     
    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
    ERIC VOGELL TREASURER
    1.00     		0 0 0
    12 FENGLER ROAD
    SCARBOROUGH,ME04074
    KRISTIN VOGELL VICE-PRESIDE
    1.00     		0 0 0
    12 FENGLER ROAD
    SCARBOROUGH,ME04074
    JOHN R THOMAS EXECUTIVE DI
    40.00     		95,339 3,080 0
    405 PERRY ROAD
    BANGOR,ME04401
    JOHN THOMAS SECRETARY
    1.00     		0 0 0
    334 MAPLE ST
    BANGOR,ME04401
    MICHAEL VARNEY TRUSTEE
    1.00     		0 0 0
    383 US RTE 1
    STE1E BOX 5
    SCARBOROUGH,ME04074
    SCOTT OXLEY CHAIR & PRES
    1.00     		0 0 0
    RR 13 BOX 1808
    HOLDEN,ME04429
    GEORGE EATON TRUSTEE
    1.00     		0 0 0
    50 HEMLOCK POINT ROAD
    ORONO,ME04473
    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  
    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
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    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 TRANSPORTATION MUSEUM: TO COLLECT, CONSTRUCT, RESTORE, DISPLAY AND MAINTAIN ANTIQUE EQUIPMENT AND FACILITIES THEMATIC TO EARLY MAINE LIFE, TRANSPORTATION AND INDUSTRY. 566,021
    2 PROVIDES READING RECOVERY TRAINING PROGRAM GRANTS TO TEACHERS WORKING WITH IDENTIFIED STRUGGLING 1ST GRADE READERS IN PARTICIPATING SCHOOLS THROUGH THE UNIVERSITY OF MAINE. 85,916
    3 SCHOLARSHIP GRANTS TO ELIGIBLE COLLEGE LEVEL STUDENTS AT UNIVERSITY OF MAINE, HUSSON UNIVERSITY, EASTERN MAINE COMMUNITY COLLEGE AND THE CLIFF VINING MEMORIAL SCHOLARSHIP. 40,000
    4 PROVIDE FINANCIAL ASSISTANCE TO FACILITATE MEAL DISTRIBUTIONS TO CHILDREN IN NEED THROUGH THE FOOD BANK'S YOUTH AND FAMILY INITIATIVES SUCH AS SCHOOL PANTRY, KID'S CAFE, AND SUMMER LUNCH PROGRAM. 35,000
    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 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    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
    31,719,113
    b
    Average of monthly cash balances.......................
    1b
    2,220,098
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    33,939,211
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    33,939,211
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    509,088
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    33,430,123
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,671,506
    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
     
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
     
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
     
    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  
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........  
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 1,096,096
    a Applied to 2020, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2021 distributable amount.....  
    e Remaining amount distributed out of corpus 1,096,096
    5 Excess distributions carryover applied to 2021.    
    (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 1,096,096
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		 
    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) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    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
    1975-02-13
    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
    1,671,506 314,593 551,423 465,338 3,002,860
    b 85% (0.85) of line 2a ......... 1,420,780 267,404 468,710 395,537 2,552,431
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		1,096,096 983,627 906,921 895,904 3,882,548
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		    2,282 6,270 8,552
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		1,096,096 983,627 904,639 889,634 3,873,996
    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 ..     		1,114,337 905,019 786,441 858,851 3,664,648
    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 e-mail address of the person to whom applications should be addressed:
    JOHN R THOMAS
    359 PERRY ROAD
    BANGOR,ME04401
    (207) 262-9910
    bThe form in which applications should be submitted and information and materials they should include:
    NO SPECIFIC FORM
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    Form 990-PF (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
    Total .................................bullet 3a  
    bApproved for future payment
    Total .................................bullet 3b  
    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 ...........     		    14 59,569  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 18,000  
    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 3,301,278 -23,003
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory         1,900
    11 Other revenue:
    aINSURANCE DIVIDEND     		        193
    bPPP LOAN FORGIVENESS     1 57,310  
    cINCOME TAX REFUND         9,464
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) ..   3,800,825 44,411
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,845,236
    (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.)
    1A TO RECOVER PART OF THE COST OF SERVING THE GENERAL PUBLIC VISITING THE MUSEUM OR USING RESOURCES AND TO OFFSET, IN PART, FREE ADMISSION AND TRANSPORTATION OF SCHOOL GROUPS.
    10 SALE OF GIFT AND SOUVENIER ITEMS AT A MARGIN OVER COST IN ORDER TO SUPPORT FREE ADMISSION FOR SCHOOL-AGE CHILDREN AND TO LIMIT THE PRICE OF GENERAL ADMISSION.
    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:  
    Part VI Line 7 -Original Return Overpayment: -18,542


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BBSC CPAS 6,345 3,063   3,282

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 DepreciationSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    FULLY DEPRECIATED 1983-01-01 17,371 17,371 S/L 10.0000        
    PERRY ROAD LAND 1991-01-01 137,000              
    PERRY ROAD LAND 1993-01-01 61,133              
    MUSEUM LAND 1993-01-01 84,936              
    MUSEUM BUILDING 1993-01-01 730,770 714,738 S/L 31.5000 16,032      
    MUSEUM FLOOR 1994-01-01 14,958 14,958 S/L 10.0000        
    PAVING 1995-06-01 965 965 S/L 10.0000        
    JOHN DEERE TRACTOR (405) 1998-06-22 17,000 17,000 200DB 5.0000        
    STORAGE GARAGE 1999-07-01 21,391 11,990 S/L 39.0000 548      
    SCOOTER LIFT 2000-10-04 1,850 1,850 S/L 5.0000        
    BUILDING 359 PERRY 2000-11-05 315,300 154,615 S/L 39.0000 8,085      
    LAND 359 PERRY ROAD 2001-11-05 51,700              
    IRRIGATION SYSTEM 2003-07-25 9,500 9,500 S/L 15.0000        
    997 MID ZTRAK LAWN TRACTOR (405) 2005-11-15 11,721 11,721 S/L 5.0000        
    OFFICE EQUIPMENT 2007-11-01 2,583 2,583 200DB 7.0000        
    359 PERRY OUTSIDE 2007-11-01 82,556 73,581 150DB 15.0000 4,896      
    359 PERRY INSIDE 2007-11-01 81,752 27,513 S/L 39.0000 2,096      
    WINDOW CURTAIN (359) 2008-03-07 1,840 1,840 200DB 7.0000        
    NEW DUCT WORK 2008-05-29 2,440 790 S/L 39.0000 62      
    DEHUMIDIFIERS (405) 2008-10-16 2,675 2,675 200DB 7.0000        
    SOUND SYSTEM (405) 2009-03-25 16,120 16,120 S/L 7.0000        
    PERRY ROAD LAND 2009-08-19 92,501              
    CARPETING - GS SECTION (359) 2009-11-30 5,706 5,706 S/L 7.0000        
    IMPROVEMENTS 2010-04-17 2,859 785 S/L 39.0000 73      
    WINDOWS 359 PERRY RD 2010-10-26 601 157 S/L 39.0000 16      
    TELEPHONE & COMPUTER SYSTEM (359) 2010-12-28 43,504 43,504 200DB 7.0000        
    HVAC SYSTEM 2010-12-31 12,350 3,167 S/L 39.0000 316      
    VINYL AWNING (359) 2013-10-14 1,920 1,920 200DB 7.0000        
    COPIER/FAX/SCANNER (359) 2013-11-06 7,331 7,331 200DB 5.0000        
    SECURITY SYSTEM (359) 2013-12-09 5,399 5,399 200DB 5.0000        
    LAWN BUSHEL DUMP (405) 2013-12-18 3,425 3,425 200DB 5.0000        
    ELECTRONIC BULLETIN BOARD 2014-04-29 2,145 2,145 200DB 5.0000        
    APPLE MACBOOK PRO 2014-07-14 1,425 1,425 S/L 5.0000        
    L.KJENSTAD MEMORIAL BRIDGE SIGN/BOARDS 2014-07-22 2,460 2,460 200DB 5.0000        
    SECURITY SYSTEM (405 PERRY) 2014-12-01 8,682 8,682 200DB 5.0000        
    FIRE ALARM/RADIO COMMUNICATOR (405 PERRY) 2014-12-01 1,337 1,337 200DB 5.0000        
    2000 TRAILER 2014-12-02 3,500 3,500 200DB 5.0000        
    XEON SERVER 2015-08-31 9,836 7,494 S/L 7.0000 1,171      
    COMPUTER SYSTEM & TOUCHSCREEN MONITOR 2015-11-24 1,617 1,617 S/L 5.0000        
    SPRINKLER SYSTEM UPGRADE 2016-10-28 5,610 1,558 S/L 15.0000 374      
    MERAKI DUAL BAND SERVER 2017-01-10 1,198 958 S/L 5.0000 240      
    8G WATER COOLER 2017-05-08 2,062 1,512 S/L 5.0000 413      
    2018 FORD F150 2017-12-14 24,999 15,416 S/L 5.0000 5,000      
    XEROX COLOR COPIER - 405 2018-03-30 6,450 3,548 S/L 5.0000 1,290      
    FORD 150 TRUCK WRAP 2018-04-12 3,514 1,933 S/L 5.0000 702      
    (1) ELITEBOOK LAPTOP 2018-06-26 1,399 700 S/L 5.0000 279      
    EXHIBIT SIGNS 2018-11-02 1,826 791 S/L 5.0000 365      
    CONFERENCE ROOM & BATHROOM RENOVATIONS 2019-03-19 28,875 2,527 S/L 20.0000 1,443      
    (1) I7 NUC COMPUTER SYSTEM 19081 2019-09-06 1,054 281 S/L 5.0000 211      
    (1) I7 NUC COMPUTER SYSTEM 19081 2019-09-06 1,054 281 S/L 5.0000 211      
    3HP AIR COMPRESSOR - SPRINKLER SYS 2020-01-29 4,276 261 S/L 15.0000 285      
    NEW MUSEUM ROOF 2020-04-28 300,000 8,000 S/L 25.0000 12,000      
    MERAKI PORT SWITCH - SERVER 2020-06-17 5,506 551 S/L 5.0000 1,101      
    DEHUMIDIFIER 2020-10-16 3,765 90 S/L 7.0000 538      
    PARKING LOT PAVING 2021-05-21 51,400   S/L 15.0000 1,999      
    DEHUMIDIFIER 2021-05-10 3,958   S/L 7.0000 377      
    SUPERMICRO SERVER 2021-10-29 12,879   S/L 5.0000 429      
    MUSEUM OFFICE RENOVATIONS 2021-12-31 65,000              

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 GainLossSaleOtherAssetsSch
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    PAVING 1995-06 PURCHASE 2021-05     965       965
    XEON SERVER 2015-08 PURCHASE 2021-10     9,836     -1,171 8,665
    WHIRLPOOL CORP 2021-05 PURCHASE 2021-08   22,409 24,946     -2,537  

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CHARLES SCHWAB EQUITY FUNDS 4,587,001 5,014,513
    CHARLES SCHWAB EQUITIES 16,691,278 24,451,861
    CHARLES SCHWAB EXCHANGE TRADED 946,502 942,209
    CHARLES SCHWAB FIXED INCOME 3,938,361 3,868,734

    TY 2021 InvestmentsLandSchedule2
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    LAND-KELLEY ROAD        

    TY 2021 LandEtcSchedule2
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDINGS AND EQUIPMENT 1,907,513 1,269,193 638,320 923,021
    LAND 478,670   478,670 478,670


    TY 2021 LegalFeesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL EXPENSES 435     435


    TY 2021 OtherAssetsSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    MUSEUM ARTIFACTS 1,417,782 1,445,282 1,445,282


    TY 2021 OtherExpensesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    INVESTMENT MANAGEMENT FEES 116,427 116,427    
    ADVERTISING 3,381     3,381
    BANK & CREDIT CARD FEES 2,927     2,927
    DISPLAYS 3,704     3,704
    DUES & MEMBERSHIPS 2,209     2,209
    FOOD & BEVERAGE 1,429     1,429
    MAINTENANCE CONTRACTS 26,921     26,921
    SUPPLIES 9,349     9,349
    POSTAGE 1,820     1,820
    VEHICLE EXPENSE 818     818
    VOLUNTEER FUNCTION EXPENSE 13,887     13,887
    SIGNS 60     60
    INSURANCE 26,358     26,358
    REPAIRS & MAINTENANCE 82,992     82,992
    COMMUNITY PROGRAMS 88,709     88,709
    VETERAN PROGRAMS 45,859     45,859
    SCHOOL PROGRAMS 265,396     265,396
    ACTIVITY RELATED EXPENSES     124,724  
    CASH OVER/SHORT 61     61


    TY 2021 OtherIncomeSchedule2
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    TICKET SALES 55,857   55,857
    INSURANCE DIVIDEND 193   193
    PPP LOAN FORGIVENESS 57,310   57,310
    INCOME TAX REFUND 9,464   9,464


    TY 2021 OtherLiabilitiesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Description Beginning of Year - Book Value End of Year - Book Value
    PPP LOAN 57,310  


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL PROCESSING FEES 1,865     1,865
    MANAGEMENT CONSULTING 22,305     22,305


    TY 2021 SalesOfInventoryList 
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774

    Category Gross Sales Cost of Goods Sold Net (Gross Sales Minus
    Cost of Goods Sold)
    COUNTER SALES 11,264 9,364 1,900

    TY 2021 TaxesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    REAL ESTATE TAX 1,856 1,856    
    SALES TAX 213     213
    INCOME TAX 241