TY 2023 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public Inspection

For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023

Name of foundation
Margaret Chase Smith Foundation

Number and street (or P.O. box number if mail is not delivered to street address)Ten Free Street PO Box 4510
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Portland, ME04112

A Employer identification number

01-0388680

B Telephone number (see instructions)

(207) 775-7271

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$14,580,089J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)	12,528
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	307,045		287,123	287,123
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		396,111
b	Gross sales price for all assets on line 6a 4,846,333
7	Capital gain net income (from Part IV, line 2)...			396,111
8	Net short-term capital gain.........				0
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).......	List of Attached Documents: // Content	530	0	530
12	Total. Add lines 1 through 11........	716,214		683,234	287,653
13	Compensation of officers, directors, trustees, etc.	0		0	0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	16,008	8,004	8,004	8,004
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	6,668	3,334	3,334	3,334
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	55,614	55,614	55,614	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	6,358	1,891	1,891	6,358
19	Depreciation (attach schedule) and depletion...		43,868	0	0
20	Occupancy..............	2,659		0	0	0
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	439,225	3,897	4,427	434,798
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	570,400		72,740	73,270	452,494
25	Contributions, gifts, grants paid.......	34,154				34,154
26	Total expenses and disbursements. Add lines 24 and 25	604,554		72,740	73,270	486,648
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	111,660
b	Net investment income (if negative, enter -0-)			610,494
c	Adjusted net income (if negative, enter -0-)...				214,383

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2023)

Form 990-PF (2023)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	63,586	55,451	55,451
	2	Savings and temporary cash investments.........	1,113,489	956,660	956,660
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	0	List of Attached Documents: // Content 380,928	380,928
	b	Investments—corporate stock (attach schedule).......	10,034,530	List of Attached Documents: // Content 11,133,339	11,133,339
	c	Investments—corporate bonds (attach schedule).......	544,409	List of Attached Documents: // Content 737,490	737,490
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	783,378	List of Attached Documents: // Content 782,971	782,971
	14	Land, buildings, and equipment: basis 977,693
		Less: accumulated depreciation (attach schedule) 444,443	537,889	List of Attached Documents: // Content 533,250	533,250
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	13,077,281	14,580,089	14,580,089
	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 )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	8,724,583	9,704,982
	25	Net assets with donor restrictions............	4,352,698	4,875,107
		Foundations that do not follow FASB ASC 958, check here
		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).....	13,077,281	14,580,089
	30	Total liabilities and net assets/fund balances (see instructions).	13,077,281	14,580,089

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

13,077,281

Enter amount from Part I, line 27a .....................

111,660

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

1,391,148

Add lines 1, 2, and 3 ..........................

14,580,089

Decreases not included in line 2 (itemize) right arrow

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

14,580,089

Form 990-PF (2023)

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
1 a	Publicly Traded Securities
b	Capital Gains Dividends	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	4,846,322	4,450,222	396,100
b	11		11
c
d
e

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			396,100
b			11
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	396,111
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 ...................		3	0

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	8,486
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	8,486
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	8,486
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	9,699
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	9,699
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	1,213
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax1,213	Refunded	11	0

Form 990-PF (2023)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. right arrow

$ 0(2) On foundation managers. right arrow

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Yes

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

N/A

The books are in care of right arrow

Michael J Quinlan Telephone no. right arrow

(207) 775-7271

Located at right arrow

Ten Free Street PO Box 4510PortlandME ZIP+4 right arrow

04112

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... right arrow

and enter the amount of tax-exempt interest received or accrued during the year ........ right arrow

16 At any time during calendar year 2023, 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 right arrow

Form 990-PF (2023)

Page 5

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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 2023? .............

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)):

At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2023?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

If "Yes," did it have excess business holdings in 2023 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 2023.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2023? ..

Form 990-PF (2023)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

Yes

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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 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
Charles L Cragin Esq	President 0.50	0	0	0
PO Box 4510 Portland,ME04112	President 0.50	0	0	0
Douglas M Henry	Vice President 0.50	0	0	0
PO Box 4510 Portland,ME04112	Vice President 0.50	0	0	0
Michael J Quinlan	Treasurer/Secretary 0.50	0	0	0
PO Box 4510 Portland,ME04112	Treasurer/Secretary 0.50	0	0	0
Davida D Barter	Director 0.38	0	0	0
PO Box 4510 Portland,ME04112	Director 0.38	0	0	0
John M Bernier	Director 0.38	0	0	0
PO Box 4510 Portland,ME04112	Director 0.38	0	0	0
Joseph Hanslip	Director 0.38	0	0	0
PO Box 4510 Portland,ME04112	Director 0.38	0	0	0
Paula D Silsby	Director 0.38	0	0	0
PO Box 4510 Portland,ME04112	Director 0.38	0	0	0

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...................				0

Form 990-PF (2023)

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
University of Maine	Library operations	429,530
5703 Alumni Hall Suite 218 Orono,ME04469	Library operations	429,530

Total number of others receiving over $50,000 for professional services............. right arrow

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	Margaret Chase Smith Library - The Library opened in 1982 and encompasses the archival and library collections, memorabilia and residence of Senator Margaret Chase Smith. The Library has a three fold mission of serving as an archive, as a museum and as an educational and public policy center. It is recognized as one of the premier Congressional libraries in the United States. Since the founding of the Library, the Margaret Chase Smith Foundation has provided financial support of the Library via funding to Northwood University. In 2011, the Foundation purchased the Library's collections and real estate from Northwood University and now directly operates the Library through an operating contract with the University of Maine.	452,494
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......................... right arrow

Form 990-PF (2023)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

12,132,852

Average of monthly cash balances.......................

1,081,064

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

13,213,916

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

13,213,916

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

198,209

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

13,015,707

Minimum investment return. Enter 5% (0.05) of line 5................

650,785

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.)

Minimum investment return from Part IX, line 6..................

Tax on investment income for 2022 from Part V, line 5.......

Income tax for 2022. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

Distributable amount before adjustments. Subtract line 2c from line 1............

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

486,648

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

41,889

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

528,537

Form 990-PF (2023)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2022	(c) 2022	(d) 2023
1 Distributable amount for 2023 from Part X, line 7
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......
b Total for prior years:20 , 20, 20
3 Excess distributions carryover, if any, to 2022:
a From 2018......
b From 2019......
c From 2020......
d From 2021......
e From 2022......
f Total of lines 3a through e ........
4Qualifying distributions for 2023 from Part
XI, line 4: $
a Applied to 2022, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2023 distributable amount.....
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2023.
(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
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2018 not applied on line 5 or line 7 (see instructions) ...
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2019....
b Excess from 2020....
c Excess from 2021....
d Excess from 2022....
e Excess from 2023....

Form 990-PF (2023)

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 2023, enter the date of the ruling ...... right arrow

2015-01-14

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2023	(b) 2022	(c) 2021	(d) 2020	(e) Total
	214,383	205,542	160,035	163,398	743,358
b 85% (0.85) of line 2a .........	182,226	174,711	136,030	138,888	631,854
c Qualifying distributions from Part XI, line 4 for each year listed .....	528,537	555,770	495,223	440,771	2,020,301
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........	34,154	35,615	40,165	37,384	147,318
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....	494,383	520,155	455,058	403,387	1,872,983
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......					0
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)					0
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..	433,857	447,961	477,691	419,375	1,778,884
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) ....					0
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....					0
(3) Largest amount of support from an exempt organization					0
(4) Gross investment income					0

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 right arrow

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2023)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
Ada E Leeke Research Fellowship 56 Norridgewock Ave Skowhegan,ME04976	None	I	Education - Ada E. Leeke -Shaw Lecture Speakers	500
Essay Contest 56 Norridgewock Ave Skowhegan,ME04976	None	I	Education - Provided 8 essay contest winners with amounts ranging from $50 to $1000.	2,000
School Trip Fund and Teacher Worksh 56 Norridgewock Ave Skowhegan,ME04976	None	I	Education Fund - School Trips to Library and Teacher Workshops	1,154
US Naval Academy Foundation 121 Blake Road Annapolis,MD21402	None	PC	Education - Leadership and ethics for women in military service	10,000
University of Maine -- Margaret Chase Smith Policy Center York Complex 4 Orono,ME04469	None	PC	Education - Maine Policy Review	10,000
Christa Bui 56 Norridgewock Ave Skowhegan,ME04976	None	I	National History Day Teacher of the Year Award	500
West Point Association of Graduates 698 Mills Rd West Point,NY10996	None	PC	Education - Leadership and ethics for women in military service	10,000
Total ................................. 3a				34,154

bApproved for future payment
Ada E Leeke Research Fellowship 56 Norridgewock Ave Skowhegan,ME04976	None	I	Education - Ada E. Leeke Honorarium -Research Grant	3,000
Essay Contest 56 Norridgewock Ave Skowhegan,ME04976	None	I	Education - To provide essay contest winners with amounts ranging from $50 to $1000.	2,000
School Trip Fund and Teacher Worksh 56 Norridgewock Ave Skowhegan,ME04976	None	I	Education Fund - School Trips to Library and Teacher Workshops	6,000
US Naval Academy Foundation 121 Blake Road Annapolis,MD21402	None	PC	Education - Leadership and ethics for women in military service	10,000
University of Maine -- Margaret Chase Smith Policy Center York Complex 4 Orono,ME04469	None	PC	Education - Maine Policy Review	10,000
West Point Association of Graduates 698 Mills Rd West Point,NY10996	None	PC	Education - Leadership and ethics for women in military service	10,000
Total ................................. 3b				41,000

Form 990-PF (2023)

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities ....			14	307,045
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	396,111
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aLibrary Sales					530
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		703,156	530

13Total. Add line 12, columns (b), (d), and (e)..................

703,686

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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.)
11a	Other Revenue attributable to operations of the Library

Form 990-PF (2023)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2023)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2023 AccountingFeesSchedule

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Accounting Expenses	6,668	3,334	3,334	3,334

- TIN:

TY 2023 GeneralExplanationAttachment

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Identifier	Return Reference	Explanation
	Form 990-PF, Part II, Line 14: Land, Buildings & Equipment	Section 1.263(a)-3(n) Election:Margaret Chase Smith FoundationTen Free Street, PO Box 4510Portland, ME 04112EIN: 01-0388680Margaret Chase Smith Foundation is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Name of Bond	End of Year Book Value	End of Year Fair Market Value
35000 Shares of At&T Inc Note Call 4.25%	34,557	34,557
35000 Shares of Priceline Grp Inc	33,748	33,748
35000 Shares of Capital One Finl Corp	33,102	33,102
35000 Shares of Santander Hldgs Usa Inc	33,984	33,984
35000 Shares of Csx Corp 4.25%	34,777	34,777
35000 Shares of Verizon Communications	33,820	33,820
35000 Shares of Cigna Corp	34,742	34,742
35000 Shares of Digital Rlty Tr Lp	32,867	32,867
35000 Shares of JPMorgan Chase & Co	34,038	34,038
35000 Shares of Equinix Inc	32,422	32,422
35000 Shares of Eaton Corp Ohio	34,142	34,142
35000 Shares of Charles Schwab Corp	36,031	36,031
95000 Shares of Waste Mgmt Inc DE	92,888	92,888
35000 Shares of Omnicom Group Inc	34,082	34,082
75000 Shares of Boeing Co	73,271	73,271
35000 Shares of Sabine Pass Liquefaction	35,612	35,612
95000 Shares of Truist Financial Corp	93,407	93,407

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Name of Stock	End of Year Book Value	End of Year Fair Market Value
14265 Shares of Vanguard High-Yield	77,317	77,317
813 Shares of iShares Intermediate	85,170	85,170
75000 Shares of Visa Inc	73,113	73,113
569 Shares of iShares 0-5 Year TIPS	56,098	56,098
300 Shares of iShares 1-3 Year Treasury Bond ETF	24,612	24,612
400 Shares of Vanguard Intermediate	23,728	23,728
270 Shares of Linde PLC	110,892	110,892
390 Shares of Trane Technologies Plc	95,121	95,121
14560 Shares of iShares Core MSCI EAFE ETF	1,024,296	1,024,296
2260 Shares of Alphabet Inc Class A	315,699	315,699
235 Shares of Meta Platforms Inc	83,181	83,181
1215 Shares of T-Mobile US Inc Com	194,801	194,801
1600 Shares of Alphabet Inc Class C	225,488	225,488
1825 Shares of Amazon.com Inc	277,291	277,291
655 Shares of Lowe's Companies Inc	145,770	145,770
485 Shares of McDonald's Corporation	143,807	143,807
1755 Shares of TJX Companies Inc	164,637	164,637
725 Shares of DR Horton Inc	110,185	110,185
265 Shares of Tesla Inc	65,847	65,847
765 Shares of Pepsico Incorporated	129,928	129,928
575 Shares of Walmart Inc	90,649	90,649
260 Shares of Costco Wholesale Corp	171,621	171,621
490 Shares of Procter & Gamble Co	71,805	71,805
975 Shares of Mondelez Intl Inc	70,619	70,619
665 Shares of Exxon Mobil Corporation	66,487	66,487
4460 Shares of Williams Companies	155,342	155,342
715 Shares of ConocoPhillips	82,990	82,990
585 Shares of Marathon Petroleum Corp	86,791	86,791
990 Shares of Morgan Stanley	92,318	92,318
1060 Shares of JP Morgan Chase & Co.	180,306	180,306
815 Shares of Marsh & McLennan Co Inc	154,418	154,418
198 Shares of BlackRock Inc	160,736	160,736
365 Shares of Mastercard Inc	155,676	155,676
770 Shares of Visa Inc	200,470	200,470
900 Shares of Cardinal Health Inc	90,720	90,720
265 Shares of Eli Lilly and Company	154,474	154,474
1020 Shares of Merck & Co Inc	111,200	111,200
300 Shares of UnitedHealth Group Inc	157,941	157,941
257 Shares of Thermo Fisher Scientific Inc	136,413	136,413
885 Shares of AbbVie Inc	137,148	137,148
160 Shares of Deere & Company	63,979	63,979
605 Shares of Automatic Data Processing Inc	140,947	140,947
615 Shares of Eaton Corp PLC	148,104	148,104
345 Shares of Cummins Inc	82,652	82,652
655 Shares of Republic Svcs Inc	108,016	108,016
125 Shares of Adobe Inc	74,575	74,575
660 Shares of Oracle Corporation	69,584	69,584
505 Shares of Motorola Solutions Inc	158,110	158,110
2110 Shares of Microsoft Corp	793,444	793,444
1120 Shares of Applied Materials Inc	181,518	181,518
650 Shares of Accenture PLC	228,092	228,092
205 Shares of Intuit Inc	128,131	128,131
3075 Shares of Apple Inc	592,030	592,030
220 Shares of Lam Research Corp	172,317	172,317
145 Shares of KLA Corp	84,289	84,289
295 Shares of NVIDIA Corp	146,090	146,090
185 Shares of Broadcom Inc	206,506	206,506
275 Shares of Palo Alto Networks Com	81,092	81,092
1085 Shares of NextEra Energy Inc	65,903	65,903
4255 Shares of Graphic Packaging Intl	104,886	104,886
795 Shares of Apollo Global Management Inc	74,086	74,086
3480 Shares of iShares Core S&P Mid-Cap ETF	964,482	964,482
3440 Shares of iShares Core S&P Small-Cap ETF	372,380	372,380
110 Shares of Ishares Intermediate Government/Credit Bond	11,523	11,523
400 Shares of Ishares Short-Term Corproate Bond	20,510	20,510
20 Shares of Ishares TIPS Bond	2,150	2,150
70 shares on Ishares Core MSCI EAFE	4,925	4,925
206 Shares of SPDR S&P 500 Trust ETF	97,913	97,913

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

US Government Securities - End of Year Book Value:

380,928

US Government Securities - End of Year Fair Market Value:

380,928

State & Local Government Securities - End of Year Book Value:

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

- TIN:

TY 2023 InvestmentsOtherSchedule2

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
6568 Shares of AFA Multi-Manager Credit Founder	FMV	61,147	61,147
16853 Shares of AQR Risk-Balanced Commodities R6	FMV	140,385	140,385
10246 Shares of Versus Capital Multi-Manager Real Estate Income Fund LLC	FMV	264,254	264,254
11426 Shares of Versus Capital Real Assets	FMV	317,185	317,185

- TIN:

TY 2023 LandEtcSchedule2

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
Land	82,800	0	82,800	82,800
Building	459,200	183,680	275,520	275,520
Furnishings	174,174	131,301	42,873	42,873
Building Improvements	239,836	129,462	110,374	110,374
Construction in Progress	21,683	0	21,683	21,683

- TIN:

TY 2023 LegalFeesSchedule

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Legal Expenses	16,008	8,004	8,004	8,004

- TIN:

TY 2023 OtherExpensesSchedule

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Insurance	12,914	3,874	3,874	9,040
Dues & Subscriptions	815	0	0	815
Bank Charges	23	23	23	0
Other	5,921	0	0	5,921
Library Operations	419,552	0	530	419,022

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
Library Sales	530		530

- TIN:

TY 2023 OtherIncreasesSchedule

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Description	Amount
Unrealized Gain on Investments	1,391,148

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Fees	55,614	55,614	55,614	0

- TIN:

TY 2023 TaxesSchedule

Name:

Margaret Chase Smith Foundation

EIN:

01-0388680

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Other Taxes	8	0	0	8
Foreign Taxes	0	1,891	1,891	0
Excise Taxes	6,350	0	0	6,350