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
The Thoracic Foundation
C/O Taylor Ganson & Perrin LLP
Number and street (or P.O. box number if mail is not delivered to street address)160 Federal St 20th
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Boston, MA02110
A Employer identification number

04-2226641
B Telephone number (see instructions)

(617) 951-2777
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$11,762,264J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 5,204 5,204 5,204
4 Dividends and interest from securities... 92,253 92,253 92,253
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 973,880
b Gross sales price for all assets on line 6a 2,659,971
7 Capital gain net income (from Part IV, line 2)... 973,880
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 21 21 21
12 Total. Add lines 1 through 11........ 1,071,358 1,071,358 97,478
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 60,745 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 20,103 0 0 0
c Other professional fees (attach schedule).... Click to see attachment 82,955 0 0 0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 3,217 0 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 167,020 0 0 0
25 Contributions, gifts, grants paid....... 494,355 494,355
26 Total expenses and disbursements. Add lines 24 and 25 661,375 0 0 494,355
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 409,983
b Net investment income (if negative, enter -0-) 1,071,358
c Adjusted net income (if negative, enter -0-)... 97,478
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............. 81,573    
2 Savings and temporary cash investments......... 83,769 335,523 335,523
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 4,699,822 Click to see attachment4,929,788 11,177,868
c Investments—corporate bonds (attach schedule)....... 50,009 0 0
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 192,782 Click to see attachment244,779 248,873
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 5,107,955 5,510,090 11,762,264
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 5,107,955 5,510,090
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 5,107,955 5,510,090
30 Total liabilities and net assets/fund balances (see instructions). 5,107,955 5,510,090
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
5,107,955
2
Enter amount from Part I, line 27a .....................
2
409,983
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
5,517,938
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
7,848
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
5,510,090
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 Short Term State Street P 2021-01-01 2021-12-31
b Long term State Street P 2018-01-01 2021-12-31
c Short Term RBC P 2021-01-01 2021-12-31
d Long Term RBC-- Covered P 2018-01-01 2021-12-31
e Short TERM Schwab P 2021-01-01 2021-12-31
90 shs of MICROSOFT CORP P 2007-02-22 2021-12-31
150 shs of 3M COMPANY P 2007-02-22 2021-12-31
233 shs of CORTEVIA INC P 1995-08-17 2021-10-27
233 shs of DUPONT INC P 1995-08-17 2021-06-28
220 shs of Lilly Eli & CO P 1995-08-17 2021-07-29
400 PNC EINIL SERVICES P 1995-08-17 2021-06-28
600 shs of ROYAL DUTCH SHELL P 1995-08-17 2021-06-28
300 shs of SOUTHWEST AIRLINES P 1995-08-17 2021-10-27
100 shs of TEXAS INSTRUMENTS P 1996-01-29 2021-06-28
24 shs of Viatris INC P 2003-03-04 2021-03-26
Long Term Schwab- Covered P 2018-01-01 2021-12-31
(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 951,541   850,599 100,942
b 1,315,708   680,206 635,502
c 33   30 3
d 76,816   58,803 18,013
e 16,489   16,259 230
23,704   2,707 20,997
27,392   11,644 15,748
9,868   2,986 6,882
17,926   8,557 9,369
53,981   4,156 49,825
81,162   9,974 71,188
26,181   19,097 7,084
14,158   1,700 12,458
19,179   597 18,582
343   292 51
25,490   18,484 7,006
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       100,942
b       635,502
c       3
d       18,013
e       230
      20,997
      15,748
      6,882
      9,369
      49,825
      71,188
      7,084
      12,458
      18,582
      51
      7,006
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 2 973,880
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 3 101,175
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 14,892
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 14,892
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 0
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 15,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 15,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 96
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 12
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet12 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
     
    No
    Website addressbulletN/A
    14
    The books are in care ofbulletEdward R Martin Esq Telephone no.bullet (617) 951-2777

    Located atbullet160 Federal StreetBostonMA ZIP+4bullet02110
    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
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
     
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    Hilary Worthen Trustee
    0.50     		0 0 0
    2587 Hilgard Ave
    Berkeley,CA94709
    Bradley R Cook Trustee
    1.00     		0 0 0
    160 Federal Street
    Boston,MA02110
    Patricia Shepard Trustee
    0.50     		0 0 0
    23 Burnham Street
    Belmont,MA02478
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    11,170,828
    b
    Average of monthly cash balances.......................
    1b
    645,423
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    11,816,251
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    11,816,251
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    177,244
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    11,639,007
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    581,950
    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
    581,950
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    14,892
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    14,892
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    567,058
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    567,058
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    567,058
    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 7 567,058
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 21,749
    b Total for prior years:20, 20, 20 0
    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 ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 494,355
    a Applied to 2020, but not more than line 2a 21,749
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 472,606
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		94,452
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    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
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    Bradley R Cook Trustee
    160 Federal Street 20th Floor
    Boston,MA02110
    (617) 951-2777
    bThe form in which applications should be submitted and information and materials they should include:
    Open
    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
    Action on Smoking and Health(ASH)
    2013 H Street NW
    Washington,DC20006     		none Health General funding for non-smokers rights 5,000
    Asthma & Allergy Foundation of America
    109 Highland Ave
    Needham Heights,MA02494     		none Health Asthma Education and Awareness 25,000
    Campaign for Tobacco Free Kids
    1400 Eye Street NW Suite 1200
    Washington,DC20005     		none Charity Advocacy program - Kick Butts Day 20,000
    Campaign for Tobacco Free Kids
    1400 Eye Street NW Suite 1200
    Washington,DC20005     		none Charity Accountability program - Protecting Kids 30,000
    Children's Hospital 300 Longwood Ave Boston MA 02215
    300 Longwood Avenue
    Boston,MA02115     		none Charity Asthma Program-Ms. Klements program 25,000
    Compassion & Choices
    4155 East Jewell Ave Suite 200
    Denver,CO80222     		none Charity General purpose 35,000
    Dana Farber Cancer Institute
    10 Brookline Place West
    Brookline,MA02445     		none Charity Dr. Janne's research on therapeutic targeting of drug induced persister cells 35,000
    Dana Farber Cancer Institute
    10 Brookline Place West
    Brookline,MA02445     		none Charity Dr. David Barbie Research sensitizing small cell lung cancer to immune checkpoint blockade by restoring neoantigen displayEducation 35,000
    Francscan Children's Hospital
    30 Warren Street
    Boston,MA02135     		none Charity Grant for evaluation of impact of diaphragm ultrasounds for children 30,000
    Iowa City Free Medical and Dental Clinic
    2440 Towncrest Drive
    Iowa City,IA52240     		None Charity Assist with programs to reduce smoking addiction 25,000
    Migrant Clinician Network
    912 Dartmoor Drive
    Austin,TX78746     		None Charity Assisting with covid issues with migrant workers 73,500
    Southcoast Hospital 101 Page Street New Bedford MA 02740
    101 Page Street
    New Bedford,MA02470     		none Charity Smoking cessation program 25,000
    Tower Foundation of SJSU
    One Washington Square San Jose
    State Univ
    San Jose,CA95192     		None Charity Assist with COVID-19 Inequities Research Study 11,000
    Cambridge Health Alliance
    230 Highland Avenue 5th floor
    Somerville,MA02143     		none Charity Grant for Dr. Lai-Becker in connection with "NAC in Covid Trial" 35,000
    Children's Hospital 300 Longwood Ave Boston MA 02215
    300 Longwood Avenue
    Boston,MA02115     		none Charity Dr. Kim's research 35,000
    Beth Israel Deaconess Med Center
    330 Brookline Avenue
    Boston,MA02115     		none Charity To support research on ARDS. 24,855
    Boston Community Pediatrics
    527 Albany Street 200
    Boston,MA02118     		none Charity To assist with Covid-19 vaccine education and counseling. 25,000
    Total .................................bullet 3a 494,355
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 5,204  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 973,880  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 1,071,358 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,071,358
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    The Thoracic Foundation
     
    C/O Taylor Ganson & Perrin LLP
    EIN:
    04-2226641
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Tax Preparation Fee 20,103 0 0 0

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    The Thoracic Foundation
     
    C/O Taylor Ganson & Perrin LLP
    EIN:
    04-2226641
    Name of Stock End of Year Book Value End of Year Fair Market Value
    666 Shs. Analog Devices 6,785 117,063
    200 shs Pfizer Inc. 5,512 11,810
    400 shs Medtronic Inc. 29,533 41,380
    800 shs Intel Corp 6,620 41,200
    200 shs Novartis AG Sponsored ADR 10,176 17,494
    1,200 shs Roche Holdings Ltd Sponsored ADR 26,867 62,028
    150 shs McDonald's Corp Inc. 10,545 40,211
    270 shs US Bancorp 3,448 15,166
    200 shs Accenture PLC 11,015 82,910
    400 shs Caterpillar Inc 6,869 82,696
    500 shs Exxon Mobil Corp 8,601 30,595
    25 shs Alphabet (Google) Inc.-Class C 6,616 72,426
    400 shs IBM 9,017 53,464
    210 shs Rockwell Automation 24,430 73,259
    250 shs Sempra Energy 13,330 33,070
    25 shs Alphabet Inc. CL A 6,850 72,426
    200 shs IPG Photonics Corp 12,410 34,428
    300 shs Pepsico Inc. 20,881 52,113
    250 shs Procter & Gamble Co 17,637 40,895
    600 shs Unilever PLC Sponsored ADR 18,884 32,274
    893 shs Snap On Inc 38,962 192,334
    1,695 shs Quanta Services 39,918 194,349
    2,017 shs Marcus & Millichap Inc 24,204 103,795
    350 shs Aptargroup 9,320 42,868
    200 shs Johnson & Johnson 10,621 34,214
    250 shs Visa Inc 17,885 54,178
    300 shs Canadian National Railway 2,107 36,858
    15,000 Molson Coors Brewing Co CPN 3.5% 5/1/2002 15,015 15,123
    300 shs JP Morgan Chase & Co. 20,463 47,505
    1,495 shs Cheniere Energy Inc 45,054 151,623
    400 shs Nextera Energy 14,367 37,344
    175 shs Edwards Lifesciences 17,998 68,014
    315 shs Novartis 18,554 27,553
    693 shs Vertex Pharmaceuticals Inc. 85,741 152,183
    2,163 shs Everbridge, Inc 51,846 145,635
    808 shs Abbott Laboratories 6,645 113,718
    75 shs Berkshire Hathaway 15,805 22,425
    75 shs Fedex Corp 8,191 19,398
    90 shs Lowes Companies Inc. 9,905 23,263
    98 shs Verizon Communication 5,644 5,092
    900 shs Enterprise Products Partners 25,362 19,764
    900 shs Coloplast AS 10,690 15,839
    1,395 shs Pepsico Inc. 179,749 242,325
    249 shs Home Depot, Inc. 54,804 103,337
    1,076 shs Cognex Corp 55,532 83,670
    634 shs Intuit Inc. 39,444 407,801
    527 shs Goldman Sachs Group Inc. 113,332 201,604
    1,382 shs Innovative Industrial Proper 58,205 363,342
    2,643 shs Vaneck Vectors ETF Trust 89,347 110,821
    1,657 shs ASGN Inc. 93,437 204,474
    4,006 shs AXOS Finl Inc. 105,838 223,975
    3,282 shs Cowen Inc - Class A 57,484 118,480
    4,124 shs Akoustis Technologies Inc. 25,775 27,548
    1,408 shs Crispr Therapeutics AG 55,768 106,698
    3,099 shs Barrick Gold Corp 48,508 58,881
    10,877 shs Kinross Gold Corp 55,498 63,195
    500 shs Microsoft Corp. 3,113 168,160
    130 shs Mondelez Intl 7,443 8,620
    18 shs Amazon.com inc 10,461 60,018
    130 shs J & J Snack Foods 19,369 20,535
    700 shs Keurig Dr. Pepper Inc 18,681 25,802
    700 shs Par Technology 14,989 36,939
    438 shs Alcon Inc. 23,896 38,159
    450 shs Nestle SA-Sponsored ADR 13,179 62,940
    459 shs Biogen Inc. 136,130 110,123
    182 shs Regeneron 83,248 114,937
    920 shs Disney (The Walt) Company 120,076 142,499
    117 shs Amazon.com 86,626 390,117
    1,625 shs Microsoft 90,738 546,520
    7,832 shs Aspen Aerogels Inc 66,630 389,955
    722 shs Caterpillar Inc 85,871 149,266
    2,240 shs Apple Inc. 134,948 397,767
    3,022 shs Newmont Corp 152,186 187,424
    1,190 shs Albemarle Corp 97,857 278,186
    7,728 shs Draftkings Inc. 83,056 212,288
    6,508 shs Processa Pharmaceuticls Inc 26,744 32,761
    1,668 shs Twist Bioscience Corp 62,380 129,087
    914 shs Crowdstrike Holdings Inc. 57,979 187,142
    7,919 shs Livent Corp 70,780 193,065
    2,275 shs Agnico Eagle Mines LTD 118,696 120,894
    15 shs Alphabet Inc. 3,969 43,404
    80 shs Kyndryl Hldings 395 1,448
    430 shs Lilly Eli & Co. 8,123 118,775
    200 shs PNC Finl Services 4,987 40,104
    175 shs Pepsico Inc. 25,719 30,399
    1,000 shs Southwest Airlines 5,666 42,840
    700 shs Texas Instruments 4,185 131,929
    100 shs Watsco Inc 28,485 31,288
    150 shs Alcon Inc. 10,458 13,068
    75 shs Ecolab Inc. 15,421 17,594
    75 shs Emerson Electric 5,164 6,973
    270 shs Graco Inc 19,235 21,767
    180 shs Home Depot 17,323 74,702
    65 shs Madison Square Garden Sports 12,322 11,292
    205 shs Microsoft Corp 6,047 68,946
    400 shs Nike Inc. 9,699 66,668
    30 shs Union Pacific 6,588 7,558
    83 shs Topicus Com 7,221 7,694
    15 shs Constellation Software Inc 16,443 27,891
    95 shs American Tower Corporation 24,354 27,788
    8,615 shs Ford Motor Co. 132,163 178,934
    3,363 shs Pfizer Inc. 131,938 198,585
    5,435 shs Old Republic Intl Corp 139,747 133,592
    871,shs JP Morgan Chase & Co. 133,096 137,923
    5,007 shs Growgeneration Corp 28,039 65,341
    1,903 shs Upwork Inc 93,068 65,006
    1,076 shs APTIV PLC 170,909 177,486
    1,597 shs Sensata Technologies Holding 93,363 98,519
    3,687 shs BP PLC ADR 89,372 98,185
    3,782 shs Sterling Construction Co 95,612 99,467
    2,711 shs Exxon Mobil Corp 173,941 165,886
    3,425 shs Sunrun Inc 48,616 117,478

    TY 2021 InvestmentsOtherSchedule2
    Name:
    The Thoracic Foundation
     
    C/O Taylor Ganson & Perrin LLP
    EIN:
    04-2226641
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    25,000 Hasbro3% due 11/19/24 AT COST 26,049 26,022
    25,000 Coach Inc 4.25% due 4/1/25 AT COST 24,561 26,549
    25,000 Molson Coors Brewing Co AT COST 26,025 26,183
    15,000 Coach Inc 4.125% due 7/15/27 AT COST 14,983 16,215
    25,000 Starbucks Corp 2.25% due 3/12/30 AT COST 26,257 24,850
    1,080 shs Vanguard Short Term Cor AT COST 88,475 87,761
    150 shs Crown Castle Intl Co AT COST 28,152 31,311
    10,000 Sherwin Williams Company 2.3% CPN AT COST 10,277 9,982

    TY 2021 OtherDecreasesSchedule
    Name:
    The Thoracic Foundation
     
    C/O Taylor Ganson & Perrin LLP
    EIN:
    04-2226641
    Description Amount
    Adjustment to Book values 7,848


    TY 2021 OtherIncomeSchedule2
    Name:
    The Thoracic Foundation
     
    C/O Taylor Ganson & Perrin LLP
    EIN:
    04-2226641
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Capital gain distribution(RBC) 21 21 21


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    The Thoracic Foundation
     
    C/O Taylor Ganson & Perrin LLP
    EIN:
    04-2226641
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    State Street Agency fees 5,000 0 0 0
    Lowell Blake & Associates 8,000 0 0 0
    Taylor, Ganson & Perrin, LLP, for Trust Administration for 2020 10,051 0 0 0
    Essex Management 59,904 0 0 0


    TY 2021 TaxesSchedule
    Name:
    The Thoracic Foundation
     
    C/O Taylor Ganson & Perrin LLP
    EIN:
    04-2226641
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Foreign Taxes paid Charles Schwab 1,167 0 0 0
    Foreign Taxes paid from State Street Bank 1,518 0 0 0
    Foreign Taxes paid RBC Dain Rauscher 532 0 0 0