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
GEORGE P BISHOP FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 707
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEWBURYPORT, MA019500907
A Employer identification number

59-3773386
B Telephone number (see instructions)

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$16,023,224J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 110 110 0
4 Dividends and interest from securities... 307,579 307,579 0
5a Gross rents............ 0 0 0
b Net rental income or (loss) 0
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 955,749
b Gross sales price for all assets on line 6a 980,733
7 Capital gain net income (from Part IV, line 2)... 955,749
8 Net short-term capital gain.........  
9 Income modifications........... 0
10a Gross sales less returns and allowances 0
b Less: Cost of goods sold.... 0
c Gross profit or (loss) (attach schedule)..... 0 0
11 Other income (attach schedule)....... 0 0 0
12 Total. Add lines 1 through 11........ 1,263,438 1,263,438 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages...... 0 0 0 0
15 Pension plans, employee benefits....... 0 0 0 0
16a Legal fees (attach schedule)......... 0 0 0 0
b Accounting fees (attach schedule)....... 0 0 0 0
c Other professional fees (attach schedule).... 0 0 0 0
17 Interest............... 0 0 0 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 11,400 11,400 0 11,400
19 Depreciation (attach schedule) and depletion... 0 0 0
20 Occupancy.............. 0 0 0 0
21 Travel, conferences, and meetings....... 0 0 0 0
22 Printing and publications.......... 0 0 0 0
23 Other expenses (attach schedule)....... Click to see list of attachments 14,956 14,956 0 14,956
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 26,356 26,356 0 26,356
25 Contributions, gifts, grants paid....... 850,000 850,000
26 Total expenses and disbursements. Add lines 24 and 25 876,356 26,356 0 876,356
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 387,082
b Net investment income (if negative, enter -0-) 1,237,082
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 215,613 187,577 187,577
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)..... 0 0  
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet   0 0  
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)   0  
b Investments—corporate stock (attach schedule)....... 8,280,538 Click to see attachment8,660,195 15,835,647
c Investments—corporate bonds (attach schedule).......   0  
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet     0  
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   0  
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet     0  
15 Other assets (describe bullet) 0 0 0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 8,496,151 8,847,772 16,023,224
Liabilities 17 Accounts payable and accrued expenses.......... 0 0
18 Grants payable................. 0 0
19 Deferred revenue................. 0 0
20 Loans from officers, directors, trustees, and other disqualified persons 0 0
21 Mortgages and other notes payable (attach schedule)......   0
22 Other liabilities (describe bullet) Click to see attachment0 Click to see attachment0
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...........    
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........ 8,496,151 8,847,772
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)..... 8,496,151 8,847,772
30 Total liabilities and net assets/fund balances (see instructions). 8,496,151 8,847,772
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
8,496,151
2
Enter amount from Part I, line 27a .....................
2
387,082
3
Other increases not included in line 2 (itemize) bullet
3
-35,461
4
Add lines 1, 2, and 3 ..........................
4
8,847,772
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
8,847,772
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 Blackrock Adv CGD P 2010-01-15 2020-11-16
b Wells Fargo Premier Advisor CGD P 2010-01-15 2020-11-16
c Eaton Vance Balanced CGD P 2010-01-15 2020-11-16
d Eaton Vance Balanced CGD P 2010-01-15 2020-11-16
e Fidelity Puritan Fund CGD P 2010-01-15 2020-11-16
Fidelity Puritan Fund CGD P 2010-01-15 2020-11-16
Massachusetts Investors Trust CGD P 2010-01-15 2020-11-16
Massachusetts Investors Trust CGD P 2010-01-15 2020-11-16
Virtus Tactical CGD P 2010-01-15 2020-11-16
Virtus Kar Capital CGD P 2010-01-15 2020-11-16
Pimco Total Return CGD P 2010-01-15 2020-11-16
MFS Corporate Bond CGD P 2010-01-15 2020-11-16
Massachusetts Investors Trust P 2010-01-15 2020-07-13
Massachusetts Investors Trust P 2010-01-15 2020-11-23
Blackrock Adv CGD P 2010-01-15 2020-11-16
Wells Fargo CGD P 2020-01-17 2020-11-16
Eaton Vance Balanced CGD P 2020-01-17 2020-11-16
Virtus Tactical CGD P 2020-01-17 2020-11-16
Pimco Total Return CGD P 2020-01-17 2020-11-16
Fidelity Puritan CGD P 2020-01-17 2020-11-16
MFS Corporate CGD P 2020-01-17 2020-11-16
(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 15,862 0 0 15,862
b 26,058 0 0 26,058
c 3,421 0 0 3,421
d 3,041 0 0 3,041
e 4,195 0 0 4,195
2,687 0 0 2,687
139,032 0 0 139,032
7,868 0 0 7,868
1,254 0 0 1,254
5,289 0 0 5,289
13,557 0 0 13,557
4,430 0 0 4,430
250,000 0 9,646 240,354
450,000 0 15,338 434,662
11,006 0 0 11,006
543 0 0 543
878 0 0 878
504 0 0 504
39,043 0 0 39,043
896 0 0 896
1,169 0 0 1,169
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   0   15,862
b   0   26,058
c   0   3,421
d   0   3,041
e   0   4,195
  0   2,687
  0   139,032
  0   7,868
  0   1,254
  0   5,289
  0   13,557
  0   4,430
      240,354
      434,662
      11,006
      543
      878
      504
      39,043
      896
      1,169
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 2 955,749
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 17,195
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 17,195
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 17,195
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 12,294
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 23,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. Part VI Line 7 - Tax Paid with the Original Return: 0 7 35,294
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 18,099
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet18,099 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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletJeremiah William Doyle Telephone no.bullet (978) 462-9548

    Located atbulletP O Box 707NewburyportMA ZIP+4bullet01950
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    Jeremiah W DoyleClick to see attachment President
    5.00     		0 0 0
    P O Box 707
    Newburyport,MA01950
    Jean MoodyClick to see attachment VP
    5.00     		0 0 0
    P O Box 707
    Newburyport,MA01950
    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
     
    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
     
    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   0
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................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
    14,391,146
    b
    Average of monthly cash balances.......................
    1b
    310,493
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    14,701,639
    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
    14,701,639
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    220,525
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    14,481,114
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    724,056
    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
    724,056
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    17,195
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
    0
    c
    Add lines 2a and 2b............................
    2c
    17,195
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    706,861
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    706,861
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    706,861
    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
    876,356
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    876,356
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    876,356
    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 7 706,861
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 682,061
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 0
    b From 2016...... 0
    c From 2017...... 0
    d From 2018...... 0
    e From 2019...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 876,356
    a Applied to 2019, but not more than line 2a 682,061
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		Click to see attachment0
    d Applied to 2020 distributable amount..... 194,295
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 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 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		512,566
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016.... 0
    b Excess from 2017.... 0
    c Excess from 2018.... 0
    d Excess from 2019.... 0
    e Excess from 2020.... 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    None
    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.
    None
    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:
    George P
    P
    Newburyport,MA01950
    (978) 462-9548
    bThe form in which applications should be submitted and information and materials they should include:
    P.O. Box 707 Newburyport MA 01950
    cAny submission deadlines:
    10 31
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    No restrictions
    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
    Carroll Center for the Blind
    77 Centre Street
    Newton,MA02458     		No Relationship 509a2 Provides comprehensive rehabiltative services for the blind and vision impaired. 25,000
    Boys and Girls Club
    18 Maple St
    P O Box 5906
    Salisbury,MA01952     		No Relationship 509a2 Promote social educational health leadership and character development of boy and girls during critical periods of their growth 20,000
    Beverly School for the Deaf
    6 Echo Ave
    Beverly,MA01915     		No Relationship 509a2 Education for the deaf 20,000
    Lazarus House
    412 Hampshire St
    Lawrence,MA01841     		No Relationship 509a2 Works to break the cycle of poverty by providing food clothing work preparation and housing to those in need. 50,000
    Community Service of Newburyport
    35 Summer St
    Newburyport,MA01950     		No Relationship 509a2 Provides economic assistance to those in need. 40,000
    Open Door Cape Ann Food Pantry
    28 Emerson Ave
    Gloucester,MA01930     		No Relationship 509a2 Alleviate the impact of hunger on Cape Ann 50,000
    Merrimack Valley Food Bank
    735 Broadway
    Lowell,MA01854     		No Relationship 509a2 Provides food to the poor. 50,000
    Opportunity Works
    10 Opportunity Way
    Newburyport,MA01950     		No Relationship 509a2 Social service organization for people with disabilities empowering them to live work and enjoy a valued role in society 25,000
    Our Neighbors Table
    P O Box 592
    Amesbury,MA01913     		No Relationship 509a2 Provides meals to the poor. 100,000
    YWCA
    186 Highland Ave
    Somerville,MA02143     		No Relationship 509a2 Eliminate racism and empower women 20,000
    Society of St Vincent de Paul HF
    9 Sparhawk St
    Amesbury,MA01913     		No Relationship 509a1 Provide food clothing and housing assistance to the poor 50,000
    Society of St Vincent de Paul SH
    757 Hancock St
    Quincy,MA02170     		No Relationship 509a1 Provides food clothing and housing assistance to the poor. 30,000
    First Parish Church of Newbury
    20 High St
    Newbury,MA01951     		No Relationship 509a1 Community food pantry associated with First Parish Church 20,000
    Rogerson Communities
    434 Jamaicaway
    Boston,MA02130     		No Relationship 509a2 Provide senior housing and supported health care 10,000
    CARE Dimensions
    75 Sylvan St
    Danvers,MA01923     		No Relationship 509a2 Hospice care for the ill 10,000
    Lawrence Community Works
    168 Newbury St
    Lawrence,MA01841     		No Relationship 509a2 Provides high quality affordable housing 10,000
    Lawrence Boys and Girls Club
    168 Water St
    Lawrence,MA01841     		No Relationship 509a2 Enables all young people of Greater Lawrence especially those who need us most to reach their full potential as productive caring responsible citizens. 30,000
    South Portland Food Bank
    130 Thadeus St
    South Portland,ME04106     		No Relationship 509a2 Food pantry in South Portland ME 25,000
    Ipswich Caring
    P O Box 584
    Ipswich,MA01938     		No Relationship 509a2 Assist families in need in Ipswich MA providing financial and in-kind support to youth adults and families. 25,000
    Budget Buddies
    114 Turnpike Rd 2D
    Chelmsford,MA01824     		No Relationship 509a2 Teaches low income women how to be financially independent. 10,000
    Community Action
    44 Friend St
    Amesbury,MA01913     		No Relationship 509a2 Clothing bank emergency support for household bills diapers infant supplies. Food pantry. 15,000
    Community Giving Tree
    572B Main St
    Boxford,MA01921     		No Relationship 509a2 Provides low income families with basic necessities such as clothing diapers and baby equipment to more than 12,000 children in northeast Massachusetts. 10,000
    Horizons for Homeless Children
    60 Island St
    Lawrence,MA01840     		No Relationship 509a2 Alleviate trauma and stress of homelessness for children and families by providing high quality early education vital opportunities for play support for parent and advocacy on behalf of marginalized citizens. 10,000
    Household Goods
    530 Main St
    Acton,MA01720     		No Relationship 509a2 Provides donated furniture and household goods free of charge to people to make a home. Furnish over 2500 homes with 60,000 pieces of furniture and smaller household items. 15,000
    Jeanne Geiger Crisis Center
    2 Harris St
    Newburyport,MA01950     		No Relationship 509a2 Free services to support adutls and child survivors as they heal from trauma of domestic abuse. Programs in schools that promote postive gender norms. Tools and strategies to reduce domestic violence. Court ordered education program for those who use violence in an intimate relationship. 15,000
    Lucy' Love Bus
    27 Water St
    Suite 302
    Amesbury,MA01913     		No Relationship 509a2 Helps children with cancer and other life threatening illnesses by providing full integrative therapies such as massage meditation acupuncture music therapy and therapeutic horseback riding. 20,000
    Merrimack Valley Habitat
    60 Island St
    Lawrence,MA01840     		No Relationship 509a2 Build small affordable comfortable homes for families in need. 25,000
    Plummer Youth Promise
    37 Winter Island Rd
    Salem,MA01970     		No Relationship 509a2 Improve outcomes for young people in or at risk of entering state care by engaging youth families and the systems that impact them to develop permanent family relationship skills and community connections. 15,000
    Raw Art Works
    37 Central Sq
    Lynn,MA01901     		No Relationship 509a2 Free programs from painting to filmaking for children 8-19. Uses art to ask kids "what is really going on" in their lives giving them tools to create and envision possibilities for their future. 10,000
    Sojourner House
    85 Rockland St
    Roxbury,MA02119     		No Relationship 509a2 Family shelter for up to 9 families. Connects families to community resources parenting classes financial literacy. Provides permanent housing. Food pantry. 5,000
    Talking Information Center
    130 Enterprise Drive
    Marshfield,MA02050     		No Relationship 509a2 Privides human voice broadcasts of local news articles and items of interest to visually impaired and otherwise disabled listeners throughout Massachusetts to promote independence and enrich the qualify of life. 15,000
    Gen'l Charitable Soc of Newburyport
    P O Box 365
    Newburyport,MA01950     		No Relationship 509a2 Provides scholarships to Newburyport High School students and assistance to needy individuals or greater Newburyport 15,000
    The Salvation Army
    40 Water St
    Newburyport,MA01950     		No Relationship 509a2 Assist with food and gifts for children 14 and under to local residents. Provide Thanksgiving meals. Empower youth. Alleviate hunger. 60,000
    Total .................................bullet 3a 850,000
    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
    a     0   0 0
    b     0   0 0
    c     0   0 0
    d     0   0 0
    e     0   0 0
    f     0   0 0
        0   0 0
    gFees and contracts from government agencies          
    2 Membership dues and assessments....   0   0 0
    3 Interest on savings and temporary cash
    investments ...........     		  0   0 0
    4 Dividends and interest from securities....   0   0 0
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......   0   0 0
    bNot debt-financed property.....   0   0 0
    6 Net rental income or (loss) from personal property   0   0 0
    7 Other investment income.....   0   0 0
    8 Gain or (loss) from sales of assets other than
    inventory ............     		  0   0 0
    9 Net income or (loss) from special events:   0   0 0
    10 Gross profit or (loss) from sales of inventory   0   0 0
    11 Other revenue:
    a       		  0   0 0
    b     0   0 0
    c     0   0 0
    d     0   0 0
    e     0   0 0
    12 Subtotal. Add columns (b), (d), and (e).. 0 0 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    0
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID: 20012075
    Software Version: V1.0
    Part VI Line 7 - Tax Paid with the Original Return: 0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 DistributionFromCorpusElection
    Name:
    GEORGE P BISHOP FOUNDATION INC
    EIN:
    59-3773386
    Software ID:
    20012075
    Software Version:
    V1.0
    Election:
    None

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    GEORGE P BISHOP FOUNDATION INC
    EIN:
    59-3773386
    Software ID:
    20012075
    Software Version:
    V1.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    Merrill Lynch Account 8,660,195 15,835,647

    TY 2020 OtherExpensesSchedule
    Name:
    GEORGE P BISHOP FOUNDATION INC
    EIN:
    59-3773386
    Software ID:
    20012075
    Software Version:
    V1.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Gould Insurance Agency 1,513 1,513 0 1,513
    Commonwealth of Massachusetts Form PC 125 125 0 125
    Commonwealth of Massachusetts -Annual Report 15 15 0 15
    Merrill Lynch - Annual Fee 150 150 0 150
    Postmaster - P.O. Box 452 452 0 452
    Administration and bookkeeping 6,129 6,129 0 6,129
    U.S. Post Office - Stamps 55 55 0 55
    Tax Preparation- 2017 and 2018 Form 990PF and Massachusetts Form PC 6,500 6,500 0 6,500
    Postage to mail Form 990PF and Form PC 17 17 0 17


    TY 2020 OtherIncreasesSchedule
    Name:
    GEORGE P BISHOP FOUNDATION INC
    EIN:
    59-3773386
    Software ID:
    20012075
    Software Version:
    V1.0
    Description Amount
    Decrease in net assets -35,461


    TY 2020 TaxesSchedule
    Name:
    GEORGE P BISHOP FOUNDATION INC
    EIN:
    59-3773386
    Software ID:
    20012075
    Software Version:
    V1.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Paid with 2019 Extension 11,400 11,400 0 11,400