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. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
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$33,876,334J 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) 3,250
2 Check bullet.............
3 Interest on savings and temporary cash investments 41,190 41,190 41,190
4 Dividends and interest from securities... 329,549 329,549 329,549
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 1,555,811
b Gross sales price for all assets on line 6a 23,341,265
7 Capital gain net income (from Part IV, line 2)... 1,555,811
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 2,528
b Less: Cost of goods sold.... 1,559
c Gross profit or (loss) (attach schedule)..... Click to see attachment 969 969
11 Other income (attach schedule)....... Click to see attachment 28,444   28,444
12 Total. Add lines 1 through 11........ 1,977,213 1,944,550 418,152
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 92,476     92,476
14 Other employee salaries and wages...... 133,551     133,551
15 Pension plans, employee benefits....... 69,776     69,776
16a Legal fees (attach schedule)......... Click to see attachment 310     310
b Accounting fees (attach schedule)....... Click to see attachment 7,057 2,116   4,941
c Other professional fees (attach schedule).... Click to see attachment 3,336     3,336
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 122,921     5,053
19 Depreciation (attach schedule) and depletion... Click to see attachment 60,683    
20 Occupancy.............. 38,476     38,476
21 Travel, conferences, and meetings.......        
22 Printing and publications.......... 3,939     3,939
23 Other expenses (attach schedule)....... Click to see attachment 401,967 83,745 103,559 318,222
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 934,492 85,861 103,559 670,080
25 Contributions, gifts, grants paid....... 0 0
26 Total expenses and disbursements. Add lines 24 and 25 934,492 85,861 103,559 670,080
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,042,721
b Net investment income (if negative, enter -0-) 1,858,689
c Adjusted net income (if negative, enter -0-)... 314,593
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 30,605 30,826 30,826
2 Savings and temporary cash investments......... 5,265,139 857,662 857,662
3 Accounts receivable bullet12
Less: allowance for doubtful accounts bullet     12 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.............. 23,632 22,900 22,900
9 Prepaid expenses and deferred charges.......... 1,375 20,546 20,546
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 19,743,221 Click to see attachment24,979,193 29,981,427
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet228,979
Less: accumulated depreciation (attach schedule) bullet   228,979 Click to see attachment228,979 215,000
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet2,263,747
Less: accumulated depreciation (attach schedule) bullet1,218,271 792,612 Click to see attachment1,045,476 1,330,179
15 Other assets (describe bullet) Click to see attachment1,417,782 Click to see attachment1,417,782 Click to see attachment1,417,782
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 27,503,345 28,603,376 33,876,334
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
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........... 27,503,345 28,513,066
25 Net assets with donor restrictions............   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)..... 27,503,345 28,546,066
30 Total liabilities and net assets/fund balances (see instructions). 27,503,345 28,603,376
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
27,503,345
2
Enter amount from Part I, line 27a .....................
2
1,042,721
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
28,546,066
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
28,546,066
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a ABBVIE, INC P 2020-01-14 2020-10-19
b AMGEN, INC. P 2019-12-27 2020-10-19
c CDW CORP P 2019-12-03 2020-08-20
d FISERV, INC. P 2020-01-27 2020-05-13
e LEIDOS HOLDINGS INC P 2020-05-07 2020-10-19
PARKER-HANNIFIN CORP P 2020-04-03 2020-06-16
SPDR S&P 500 ETF P 2019-12-05 2020-01-14
UNION PACIFIC CORP P 2020-01-14 2020-10-30
VIATRIS INC P 2020-05-07 2020-12-18
VANGUARD MID CAP INDEX FUND P   2020-05-14
ABBVIE, INC P 2020-07-21 2020-10-19
APPLE, INC. P 2020-03-04 2020-11-19
CISCO SYSTEMS INC P 2019-12-12 2020-08-13
IBM CORP P 2019-12-04 2020-04-07
LEIDOS HOLDINGS INC P 2020-05-13 2020-10-19
PARKER-HANNIFIN CORP P 2020-04-07 2020-06-16
SPDR S&P 500 ETF P 2020-01-27 2020-01-27
UNION PACIFIC CORP P 2020-01-31 2020-10-30
VIATRIS INC P 2020-05-13 2020-12-18
VANGUARD MID CAP INDEX FUND P   2020-06-24
ALPHABET, INC. P 2019-12-03 2020-04-29
APPLE, INC. P 2020-03-04 2020-08-27
CISCO SYSTEMS INC P 2019-12-27 2020-08-13
IBM CORP P 2020-01-10 2020-04-07
LEIDOS HOLDINGS INC P 2020-06-10 2020-10-19
PFIZER INC P 2019-12-03 2020-03-25
SPDR S&P 500 ETF P 2019-12-05 2020-02-26
UNION PACIFIC CORP P 2020-05-14 2020-10-30
VIATRIS INC P 2020-07-02 2020-12-18
VANGUARD MID CAP INDEX ADMIRAL P 2011-01-02 2020-07-17
ALPHABET, INC. P 2020-01-27 2020-04-29
APPLE, INC. P 2020-06-16 2020-08-27
CISCO SYSTEMS INC P 2020-07-21 2020-08-13
IBM CORP P 2020-01-27 2020-04-07
LEIDOS HOLDINGS INC P 2020-06-16 2020-10-19
PHILLIPS 66 P 2020-01-27 2020-05-13
SPDR S&P 500 ETF P 2020-01-27 2020-02-26
UNION PACIFIC CORP P 2020-08-13 2020-10-30
VIATRIS INC P 2020-07-21 2020-12-18
VANGUARD SHORT TERM BOND INDEX FUND P   2020-03-09
AMAZON.COM, INC. P 2019-12-27 2020-04-16
APPLE, INC. P 2020-07-21 2020-08-27
CITIGROUP, INC. P 2020-03-25 2020-05-13
IBM CORP P 2019-12-03 2020-04-23
LEIDOS HOLDINGS INC P 2020-07-21 2020-10-19
RAYTHEON TECHNOLOGIES CO P 2020-01-31 2020-04-06
SPDR S&P 500 ETF P 2019-12-05 2020-02-27
UNION PACIFIC CORP P 2020-10-19 2020-10-30
VIATRIS INC P 2020-07-28 2020-12-18
VANGUARD TOTAL BOND MKT INDEX P   2020-02-27
AMAZON.COM, INC. P 2020-01-14 2020-04-16
AUTOZONE, INC P 2020-10-19 2020-12-09
CUMMINS, INC. P 2019-12-03 2020-01-06
IBM CORP P 2019-12-03 2020-04-23
MEDTRONIC PLC P 2019-12-04 2020-06-16
RAYTHEON TECHNOLOGIES CO P 2019-12-03 2020-05-14
SPDR S&P 500 ETF P 2019-12-05 2020-03-04
US TREASURY NT 2%09 P 2020-02-12 2020-09-30
WALT DISNEY CO P 2020-02-26 2020-05-06
VANGUARD TOTAL BOND MKT INDEX P   2020-02-28
AMAZON.COM, INC. P 2020-03-09 2020-04-16
BANK OF AMERICA CORP P 2019-12-03 2020-04-03
CUMMINS, INC. P 2019-12-03 2020-01-06
IBM CORP P 2019-12-04 2020-04-23
MEDTRONIC PLC P 2019-12-04 2020-08-20
RAYTHEON TECHNOLOGIES CO P 2020-01-31 2020-05-14
SPDR S&P 500 ETF P 2019-12-05 2020-03-09
VANGUARD INFLATION PROTECTED SECS P   2020-02-20
WASTE MANAGEMENT 2.95% P 2020-06-15 2020-07-20
VANGUARD TOTAL BOND MKT INDEX P   2020-03-05
AMAZON.COM, INC. P 2020-03-09 2020-04-28
BANK OF AMERICA CORP P 2020-01-31 2020-04-03
CUMMINS, INC. P 2019-12-04 2020-01-06
IBM CORP P 2019-12-03 2020-05-14
MEDTRONIC PLC P 2019-12-03 2020-08-27
RAYTHEON TECHNOLOGIES CO P 2019-12-03 2020-08-20
SPDR S&P 500 ETF P 2019-12-05 2020-03-16
VANGUARD MID CAP INDEX FUND ADMIRAL P   2020-01-14
WELLS FARGO BK P 2019-12-06 2020-05-13
POINTER OFFSHORE LTD. P   2020-06-30
AMAZON.COM, INC. P 2020-06-16 2020-11-09
BERNZOTT US SMALL CAP VALUE P 2020-06-24 2020-11-11
DANAHER CORP P 2019-12-03 2020-05-14
INTEL CORP P 2019-12-03 2020-07-28
MEDTRONIC PLC P 2019-12-04 2020-08-27
RAYTHEON TECHNOLOGIES CO P 2019-12-03 2020-10-19
TELEFLEX INCORPORATE P 2020-03-25 2020-05-19
VANGUARD MID CAP INDEX FUND ADMIRAL P 2019-06-26 2020-05-14
WELLS FARGO BK P 2019-12-27 2020-05-13
AMAZON.COM, INC. P 2020-07-21 2020-11-09
BROADCOM, INC. P 2019-12-04 2020-03-25
DISCOVER FINL P 2020-04-07 2020-06-08
INTEL CORP P 2020-06-10 2020-07-28
MEDTRONIC PLC P 2020-05-14 2020-08-27
S&P GLOBAL INC P 2019-12-27 2020-05-14
TEXAS INSTRUMENTS P 2019-12-03 2020-03-25
VANGUARD MID CAP INDEX FUND ADMIRAL P   2020-06-24
WELLS FARGO BK P 2020-04-29 2020-05-13
AMERICAN EXPRESS, CO. P 2019-12-03 2020-06-16
BROADCOM, INC. P 2019-12-03 2020-05-19
DISCOVER FINL P 2020-04-23 2020-06-08
INTEL CORP P 2020-07-21 2020-07-28
MICROSOFT CORP P 2020-03-04 2020-08-13
S&P GLOBAL INC P 2019-12-27 2020-05-19
THERMO FISHER SCNTFC P 2020-07-21 2020-11-06
VANGUARD SHORT TERM BOND INDEX FUND P   2020-03-09
WEX INC P 2020-04-02 2020-05-07
AMETEK, INC. P 2020-02-27 2020-09-09
BROADCOM, INC. P 2019-12-04 2020-05-19
FACEBOOK, INC. P 2019-12-27 2020-05-20
LAM RESEARCH CORP P 2020-09-09 2020-12-08
MICROSOFT CORP P 2020-05-19 2020-08-13
S&P GLOBAL INC P 2019-12-27 2020-08-13
THERMO FISHER SCNTFC P 2020-07-28 2020-11-06
VANGUARD TOTAL BOND P   2020-02-27
WEX INC P 2020-04-02 2020-06-04
AMGEN, INC. P 2019-12-27 2020-08-20
BROADCOM, INC. P 2019-12-03 2020-05-28
FACEBOOK, INC. P 2020-05-19 2020-05-20
LAM RESEARCH CORP P 2020-03-25 2020-12-17
MICROSOFT CORP P 2020-06-10 2020-08-13
S&P GLOBAL INC P 2020-07-21 2020-08-13
THOR INDUSTRIES, INC P 2020-04-03 2020-04-30
VANGUARD TOTAL BOND P   2020-02-28
WEX INC P 2020-04-03 2020-06-04
AMGEN, INC. P 2020-07-21 2020-08-20
CDW CORP P 2019-12-03 2020-08-13
FARM CREDIT SYST 1.63% P 2020-02-20 2020-05-08
LAM RESEARCH CORP P 2020-09-09 2020-12-17
MICRSOFT CORP P 2020-07-21 2020-08-13
S&P GLOBAL INC P 2019-12-03 2020-10-19
TJX COMPANIES P 2019-12-03 2020-05-14
VANGUARD TOTAL BOND P 2020-02-28 2020-03-05
VANGUARD INFLATION PROTECTED SECS P   2020-02-20
AMGEN, INC. P 2019-12-03 2020-10-19
CDW CORP P 2020-01-27 2020-08-13
FEDERAL FARM CR 0.35%22 P 2020-05-08 2020-12-22
LEIDOS HOLDINGS INC P 2020-04-29 2020-10-19
NXP SEMICONDUCTORS P 2020-05-19 2020-06-03
S&P GLOBAL INC P 2019-12-27 2020-10-19
TJX COMPANIES P 2020-01-31 2020-05-14
VIATRIS INC P 2020-07-28 2020-11-17
VANGUARD MID CAP INDEX FUND P   2020-01-14
(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 27,145   28,191 -1,046
b 58,488   60,323 -1,835
c 49,633   58,569 -8,936
d 237,475   284,880 -47,405
e 101,039   115,883 -14,844
157,331   96,919 60,412
196,751   186,942 9,809
122,707   126,705 -3,998
4,149   3,691 458
196,994   146,708 50,286
20,359   23,548 -3,189
42,893   27,185 15,708
213,385   227,159 -13,774
32,119   35,970 -3,851
28,187   30,725 -2,538
90,987   66,330 24,657
159,192   158,295 897
175,296   180,389 -5,093
2,282   1,992 290
1,303,157   764,274 538,883
6,765   6,483 282
118,018   70,590 47,428
31,154   34,898 -3,744
47,584   54,997 -7,413
64,613   77,894 -13,281
348,078   433,943 -85,865
130,105   127,743 2,362
37,689   32,051 5,638
8,910   7,374 1,536
5,742   2,498 3,244
67,649   71,501 -3,852
72,820   50,815 22,005
15,364   16,960 -1,596
31,524   36,703 -5,179
37,727   43,583 -5,856
121,114   165,430 -44,316
161,838   164,756 -2,918
45,577   49,290 -3,713
2,184   1,916 268
1,905,353   1,849,873 55,480
96,019   75,555 20,464
100,441   78,111 22,330
192,961   188,462 4,499
10,242   11,223 -981
18,647   19,457 -810
46   78 -32
199,638   202,520 -2,882
49,959   59,201 -9,242
5,161   4,817 344
704,176   672,416 31,760
120,023   93,725 26,298
261,943   279,270 -17,327
3,130   3,211 -81
56,306   62,059 -5,753
78,670   92,030 -13,360
38,280   67,295 -29,015
311,923   311,569 354
700,000   701,992 -1,992
124,126   152,458 -28,332
245,349   229,535 15,814
28,806   22,059 6,747
95,202   156,154 -60,952
378,665   389,224 -10,559
148,212   163,863 -15,651
11,560   12,828 -1,268
66,776   122,179 -55,403
154,126   171,363 -17,237
30,717   30,104 613
101,000   107,215 -6,215
1,047,914   962,169 85,745
41,777   33,089 8,688
37,240   61,395 -24,155
173,873   180,404 -6,531
136,651   157,788 -21,137
405,647   421,599 -15,952
93,450   139,498 -46,048
418,046   529,668 -111,622
17,410   16,444 966
118,195   284,543 -166,348
1,568,220   782,551 785,669
16,245   13,040 3,205
496,122   400,015 96,107
133,025   122,511 10,514
393,747   448,146 -54,399
33,092   34,581 -1,489
90,890   134,924 -44,034
210,163   171,888 38,275
3,006   3,012 -6
14,634   35,062 -20,428
42,237   40,590 1,647
111,154   141,973 -30,819
193,642   116,717 76,925
56,601   73,100 -16,499
80,062   68,823 11,239
206,081   191,837 14,244
120,339   141,086 -20,747
13,004   12,363 641
94,556   126,562 -32,006
74,602   82,811 -8,209
87,432   97,971 -10,539
62,863   35,222 27,641
31,008   38,471 -7,463
58,744   47,260 11,484
55,124   47,959 7,165
53,080   40,815 12,265
43,041   42,018 1,023
198,499   140,634 57,865
141,738   128,915 12,823
311,478   351,846 -40,368
140,224   126,807 13,417
100,556   61,093 39,463
38,813   34,346 4,467
47,882   36,997 10,885
71,658   55,032 16,626
45,824   44,290 1,534
108,507   66,327 42,180
11,945   12,065 -120
137,096   146,956 -9,860
27,585   25,880 1,705
159,967   80,529 79,438
56,646   52,206 4,440
40,788   40,795 -7
117,811   63,879 53,932
9,651   9,168 483
111,771   64,557 47,214
80,035   86,993 -6,958
25,789   29,950 -4,161
700,000   699,790 210
132,083   84,159 47,924
71,332   71,382 -50
58,720   44,745 13,975
106,720   145,822 -39,102
4,074   4,035 39
1,329,303   1,146,994 182,309
5,849   5,821 28
63,613   75,191 -11,578
700,000   700,000  
62,011   73,945 -11,934
362,175   335,862 26,313
5,181   4,111 1,070
34,847   47,884 -13,037
3   3  
7,590   4,591 2,999
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       -1,046
b       -1,835
c       -8,936
d       -47,405
e       -14,844
      60,412
      9,809
      -3,998
      458
      50,286
      -3,189
      15,708
      -13,774
      -3,851
      -2,538
      24,657
      897
      -5,093
      290
      538,883
      282
      47,428
      -3,744
      -7,413
      -13,281
      -85,865
      2,362
      5,638
      1,536
      3,244
      -3,852
      22,005
      -1,596
      -5,179
      -5,856
      -44,316
      -2,918
      -3,713
      268
      55,480
      20,464
      22,330
      4,499
      -981
      -810
      -32
      -2,882
      -9,242
      344
      31,760
      26,298
      -17,327
      -81
      -5,753
      -13,360
      -29,015
      354
      -1,992
      -28,332
      15,814
      6,747
      -60,952
      -10,559
      -15,651
      -1,268
      -55,403
      -17,237
      613
      -6,215
      85,745
      8,688
      -24,155
      -6,531
      -21,137
      -15,952
      -46,048
      -111,622
      966
      -166,348
      785,669
      3,205
      96,107
      10,514
      -54,399
      -1,489
      -44,034
      38,275
      -6
      -20,428
      1,647
      -30,819
      76,925
      -16,499
      11,239
      14,244
      -20,747
      641
      -32,006
      -8,209
      -10,539
      27,641
      -7,463
      11,484
      7,165
      12,265
      1,023
      57,865
      12,823
      -40,368
      13,417
      39,463
      4,467
      10,885
      16,626
      1,534
      42,180
      -120
      -9,860
      1,705
      79,438
      4,440
      -7
      53,932
      483
      47,214
      -6,958
      -4,161
      210
      47,924
      -50
      13,975
      -39,102
      39
      182,309
      28
      -11,578
       
      -11,934
      26,313
      1,070
      -13,037
       
      2,999
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 1,555,811
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 -265,481
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 25,836
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 25,836
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 25,836
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 61,200
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. Part VI Line 7 - Original Return Overpayment: -9464 7 51,736
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 25,900
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet25,900 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    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 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    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 (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.COLEMUSEUM.ORG
    14
    The books are in care ofbulletMORGAN KNOX Telephone no.bullet (207) 262-9910

    Located atbullet359 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 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    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
    JIM NEVILLE EXECUTIVE DI
    40.00     		92,476 3,011 0
    96 PERK OROCK LANDING
    ORONO,ME04473
    JOHN THOMAS EXECUTIVE DI
    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 (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 TRANSPORTATION MUSEUM: TO COLLECT, CONSTRUCT, RESTORE, DISPLAY AND MAINTAIN ANTIQUE EQUIPMENT AND FACILITIES THEMATIC TO EARLY MAINE LIFE, TRANSPORTATION AND INDUSTRY. 467,862
    2 PROVIDES READING RECOVERY TRAINING PROGRAM GRANTS TO TEACHERS WORKING WITH IDENTIFIED STRUGGLING 1ST GRADE READERS IN PARTICIPATING SCHOOLS THROUGH THE UNIVERSITY OF MAINE. 97,908
    3 SCHOLARSHIP GRANTS TO ELIGIBLE COLLEGE LEVEL STUDENTS AT UNIVERSITY OF MAINE, HUSSON UNIVERSITY, EASTERN MAINE COMMUNITY COLLEGE AND THE CLIFF VINING MEMORIAL SCHOLARSHIP. 40,500
    4 PROVIDE FINANCIAL ASSISTANCE TO FACILITATE THE DISTRIBUTION OF THE "BACK PACK FOOD PROGRAM" TO CHILDREN IN NEED WITHIN THE BANGOR SCHOOL SYSTEM. 25,000
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    24,892,693
    b
    Average of monthly cash balances.......................
    1b
    2,456,323
    c
    Fair market value of all other assets (see instructions)................
    1c
    215,000
    d
    Total (add lines 1a, b, and c).........................
    1d
    27,564,016
    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
    27,564,016
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    413,460
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    27,150,556
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,357,528
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
     
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    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 XIII, line 1 ...
    7
     
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    670,080
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    313,547
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    983,627
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    983,627
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7  
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 983,627
    a Applied to 2019, 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 2020 distributable amount.....  
    e Remaining amount distributed out of corpus 983,627
    5 Excess distributions carryover applied to 2020.    
    (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 5 983,627
    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 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		 
    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 2015 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
    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) 2020 (b) 2019 (c) 2018 (d) 2017
    314,593 551,423 465,338 404,290 1,735,644
    b 85% of line 2a ......... 267,404 468,710 395,537 343,647 1,475,298
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		983,627 906,921 895,904 861,163 3,647,615
    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 ....     		983,627 904,639 889,634 861,163 3,639,063
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		905,019 786,441 858,851 836,321 3,386,632
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JAMES NEVILLE
    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 (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Total .................................bullet 3a  
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    aTICKET SALES         19,814
    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 41,190  
    4 Dividends and interest from securities....     14 329,549  
    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 1,555,811  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory         969
    11 Other revenue:
    aCLASS ACTION SETTLEMENT     		        630
    bINSURANCE DIVIDEND         181
    cEFFICIENCY MAINE REBATE         7,819
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   1,944,550 29,413
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,973,963
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    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 (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  
    Part VI Line 7 -Original Return Overpayment: -9,464


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BBSC CPAS 7,057 2,116   4,941

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    TY 2020 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
    SCOOTER LIFT 2000-10-04 1,850 1,850 S/L 5.0000        
    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        
    WINDOW CURTAIN (359) 2008-03-07 1,840 1,840 200DB 7.0000        
    DEHUMIDIFIERS (405) 2008-10-16 2,675 2,675 200DB 7.0000        
    PERRY ROAD LAND 1991-01-01 137,000              
    PERRY ROAD LAND 1993-01-01 61,133              
    MUSEUM LAND 1993-01-01 84,936              
    MUSEUM FLOOR 1994-01-01 14,958 14,958 S/L 10.0000        
    359 PERRY OUTSIDE 2007-11-01 82,556 68,686 150DB 15.0000 4,895      
    FULLY DEPRECIATED 1983-01-01 17,371 17,371 S/L 10.0000        
    PAVING 1995-06-01 965 965 S/L 10.0000        
    IRRIGATION SYSTEM 2003-07-25 9,500 9,500 S/L 15.0000        
    MUSEUM BUILDING 1993-01-01 730,770 691,539 S/L 31.5000 23,199      
    STORAGE GARAGE 1999-07-01 21,391 11,441 S/L 39.0000 549      
    BUILDING 359 PERRY 2000-11-05 315,300 146,531 S/L 39.0000 8,084      
    359 PERRY INSIDE 2007-11-01 81,752 25,416 S/L 39.0000 2,097      
    NEW DUCT WORK 2008-05-29 2,440 727 S/L 39.0000 63      
    JOHN DEERE TRACTOR (405) 1998-06-22 17,000 17,000 200DB 5.0000        
    LAND 359 PERRY ROAD 2001-11-05 51,700              
    SOUND SYSTEM (405) 2009-03-25 16,120 16,120 S/L 7.0000        
    CARPETING - GS SECTION (359) 2009-11-30 5,706 5,706 S/L 7.0000        
    PERRY ROAD LAND 2009-08-19 92,501              
    WINDOWS 359 PERRY RD 2010-10-26 601 142 S/L 39.0000 15      
    TELEPHONE & COMPUTER SYSTEM (359) 2010-12-28 43,504 43,504 200DB 7.0000        
    HVAC SYSTEM 2010-12-31 12,350 2,850 S/L 39.0000 317      
    IMPROVEMENTS 2010-04-17 2,859 712 S/L 39.0000 73      
    VINYL AWNING (359) 2013-10-14 1,920 1,793 200DB 7.0000 127      
    LAWN BUSHEL DUMP (405) 2013-12-18 3,425 3,425 200DB 5.0000        
    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        
    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        
    HP TOUCHSMART LAPTOP 2014-08-26 1,238 1,238 200DB 5.0000        
    APPLE MACBOOK PRO 2014-07-14 1,425 1,425 S/L 5.0000        
    2000 TRAILER 2014-12-02 3,500 3,500 200DB 5.0000        
    L.KJENSTAD MEMORIAL BRIDGE SIGN/BOARDS 2014-07-22 2,460 2,460 200DB 5.0000        
    ELECTRONIC BULLETIN BOARD 2014-04-29 2,145 2,145 200DB 5.0000        
    XEON SERVER 2015-08-31 9,836 6,089 S/L 7.0000 1,405      
    COMPUTER SYSTEM & TOUCHSCREEN MONITOR 2015-11-24 1,617 1,321 S/L 5.0000 296      
    HP TOUCHSMART LAPTOP 2015-06-23 1,318 1,186 S/L 5.0000 132      
    SPRINKLER SYSTEM UPGRADE 2016-10-28 5,610 1,184 S/L 15.0000 374      
    MERAKI DUAL BAND SERVER 2017-01-10 1,198 719 S/L 5.0000 239      
    8G WATER COOLER 2017-05-08 2,062 1,100 S/L 5.0000 412      
    2018 FORD F150 2017-12-14 24,999 10,416 S/L 5.0000 5,000      
    XEROX COLOR COPIER - 405 2018-03-30 6,450 2,258 S/L 5.0000 1,290      
    FORD 150 TRUCK WRAP 2018-04-12 3,514 1,230 S/L 5.0000 703      
    (1) ELITEBOOK LAPTOP 2018-06-26 1,399 420 S/L 5.0000 280      
    EXHIBIT SIGNS 2018-11-02 1,826 426 S/L 5.0000 365      
    CONFERENCE ROOM & BATHROOM RENOVATIONS 2019-03-19 28,875 1,083 S/L 20.0000 1,444      
    (1) I7 NUC COMPUTER SYSTEM 19081 2019-09-06 1,054 70 S/L 5.0000 211      
    (1) I7 NUC COMPUTER SYSTEM 19081 2019-09-06 1,054 70 S/L 5.0000 211      
    3HP AIR COMPRESSOR - SPRINKLER SYS 2020-01-29 4,276   S/L 15.0000 261      
    NEW MUSEUM ROOF 2020-04-28 300,000   S/L 25.0000 8,000      
    MERAKI PORT SWITCH - SERVER 2020-06-17 5,506   S/L 5.0000 551      
    DEHUMIDIFIER 2020-10-16 3,765   S/L 7.0000 90      

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

    TY 2020 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
    HP TOUCHSMART LAPTOP 2014-08 PURCHASE 2020-12     1,238       1,238
    HP TOUCHSMART LAPTOP 2015-06 PURCHASE 2020-12     1,318       1,318

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Name of Stock End of Year Book Value End of Year Fair Market Value
    POINTER OFFSHORE    
    VANGUARD INDEX FUND-MID CAP    
    VANGUARD INFLATION VAIPX    
    VANGUARD TOTAL BOND MKT INDEX FD    
    VANGUARD SHORT TERM BOND INDEX    
    CHARLES SCHWAB EQUITY FUNDS 2,748,075 3,591,221
    CHARLES SCHWAB EQUITIES 15,941,231 19,946,597
    CHARLES SCHWAB EXCHANGE TRADED 2,407,268 2,563,371
    CHARLES SCHWAB FIXED INCOME 3,882,619 3,880,238

    TY 2020 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 228,979   228,979 215,000

    TY 2020 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 1,836,477 1,218,271 618,206 902,909
    LAND 427,270   427,270 427,270


    TY 2020 LegalFeesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL EXPENSES 310     310


    TY 2020 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 1,417,782 1,417,782


    TY 2020 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 83,745 83,745    
    ADVERTISING 4,454     4,454
    BANK & CREDIT CARD FEES 1,439     1,439
    DISPLAYS 6,098     6,098
    DUES & MEMBERSHIPS 1,359     1,359
    FOOD & BEVERAGE 1,006     1,006
    MAINTENANCE CONTRACTS 26,496     26,496
    SUPPLIES 5,074     5,074
    POSTAGE 605     605
    VEHICLE EXPENSE 463     463
    VOLUNTEER FUNCTION EXPENSE 8,380     8,380
    PHOTO/VIDEO/AUDIO 38     38
    SIGNS 60     60
    INSURANCE 24,089     24,089
    REPAIRS & MAINTENANCE 18,662     18,662
    COMMUNITY PROGRAMS 73,041     73,041
    VETERAN PROGRAMS 493     493
    SCHOOL PROGRAMS 143,464     143,464
    SCHOLARSHIPS 3,000     3,000
    ACTIVITY RELATED EXPENSES     103,559  
    CASH OVER/SHORT 1     1


    TY 2020 OtherIncomeSchedule2
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    TICKET SALES 19,814   19,814
    CLASS ACTION SETTLEMENT 630   630
    INSURANCE DIVIDEND 181   181
    EFFICIENCY MAINE REBATE 7,819   7,819


    TY 2020 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 2020 OtherProfessionalFeesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL PROCESSING FEES 1,886     1,886
    MANAGEMENT CONSULTING 1,450     1,450


    TY 2020 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 2,528 1,559 969

    TY 2020 TaxesSchedule
    Name:
    GALEN COLE FAMILY FOUNDATION
    EIN:
    23-7425774
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    REAL ESTATE TAX 4,600     4,600
    SALES TAX 453     453
    INCOME TAX 117,868