Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo 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
GALEN COLE FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)359 PERRY ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BANGOR, ME04401
A Employer identification number

23-7425774
B Telephone number (see instructions)

(207) 262-9910
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$38,281,346J Accounting method:
MODIFIED CASH
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 8,630
2 Check right arrow.............
3 Interest on savings and temporary cash investments 141,791 141,791 141,791
4 Dividends and interest from securities... 488,443 488,443 488,443
5a Gross rents............ 18,640 18,640 18,640
b Net rental income or (loss) 18,640
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
587,539
b Gross sales price for all assets on line 6a 15,560,048
7 Capital gain net income (from Part IV, line 2)... 581,863
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 16,795
b Less: Cost of goods sold.... 15,220
c Gross profit or (loss) (attach schedule)..... Click to see attachment
List of Attached Documents:
// Content
1,575 1,575
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
125,047   125,047
12 Total. Add lines 1 through 11........ 1,371,665 1,230,737 775,496
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 271,220     271,220
14 Other employee salaries and wages...... 155,254     155,254
15 Pension plans, employee benefits....... 83,667     83,667
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
715     715
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
6,776 3,271   3,505
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
2,181     2,181
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
670     670
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
43,247    
20 Occupancy.............. 76,012     76,012
21 Travel, conferences, and meetings....... 1,526     1,526
22 Printing and publications.......... 6,876     6,876
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
655,316 114,651 82,510 540,665
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,303,460 117,922 82,510 1,142,291
25 Contributions, gifts, grants paid....... 0 0
26 Total expenses and disbursements. Add lines 24 and 25 1,303,460 117,922 82,510 1,142,291
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 68,205
b Net investment income (if negative, enter -0-) 1,112,815
c Adjusted net income (if negative, enter -0-)... 692,986
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
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............. 50,102 149,262 149,262
2 Savings and temporary cash investments......... 379,803 1,813,821 1,813,821
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use.............. 26,745 23,822 23,822
9 Prepaid expenses and deferred charges.......... 1,683 1,571 1,571
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 26,946,671 Click to see attachment
List of Attached Documents:
// Content
25,476,755 		33,315,656
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis right arrow2,545,320
Less: accumulated depreciation (attach schedule) right arrow1,346,292 1,198,721 Click to see attachment
List of Attached Documents:
// Content
1,199,028 		1,483,728
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
1,485,282 		Click to see attachment
List of Attached Documents:
// Content
1,493,486 		Click to see attachment
List of Attached Documents:
// Content
1,493,486
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 30,089,007 30,157,745 38,281,346
Liabilities 17 Accounts payable and accrued expenses..........   533
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 right arrow)    
23 Total liabilities (add lines 17 through 22).........   533
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 30,056,007 30,157,212
25 Net assets with donor restrictions............ 33,000  
Foundations that do not follow FASB ASC 958, check here right arrow
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)..... 30,089,007 30,157,212
30 Total liabilities and net assets/fund balances (see instructions). 30,089,007 30,157,745
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
30,089,007
2
Enter amount from Part I, line 27a .....................
2
68,205
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
30,157,212
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
30,157,212
Form 990-PF (2023)
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 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a JPMORGAN CHASE & CO. 3.2% 01/25/2023 P 2020-05-04 2023-01-25
b CVS HEALTH CORP P 2021-11-19 2023-04-26
c BRISTOL-MYERS SQUIBB P 2022-03-30 2023-05-02
d UNITEDHEALTH GRP INC P 2020-07-21 2023-05-15
e DEVON ENERGY CORP P 2022-11-03 2023-05-18
JOHNSON & JOHNSON P 2020-07-21 2023-07-13
L3HARRIS TECHNOLOGIE P 2021-07-23 2023-07-25
LAB CO OF AMER HLDG P 2022-11-09 2023-09-07
NORFOLK SOUTHERN CO P 2023-05-18 2023-09-25
CHEVRON CORP P 2022-05-03 2023-12-13
PFIZER INC P 2020-05-07 2023-02-09
CVS HEALTH CORP P 2021-12-13 2023-04-26
BRISTOL-MYERS SQUIBB P 2022-07-15 2023-05-02
UNITEDHEALTH GRP INC P 2020-08-13 2023-05-15
DEVON ENERGY CORP P 2022-11-09 2023-05-18
JOHNSON & JOHNSON P 2022-06-16 2023-07-13
META PLATFORMS INC A P 2023-05-18 2023-07-25
L3HARRIS TECHNOLOGIE P 2021-06-24 2023-09-07
GOLDMAN SACHS BANK U NY 0.35% CD 09/ P 2021-09-21 2023-09-29
CHEVRON CORP P 2022-06-29 2023-12-13
PFIZER INC P 2020-07-28 2023-02-09
CVS HEALTH CORP P 2021-12-30 2023-04-26
BERKSHIRE HATHAWAY B P 2022-10-19 2023-05-02
UNITEDHEALTH GRP INC P 2021-01-08 2023-05-15
ALPHABET INC. C P 2022-05-24 2023-05-18
JOHNSON & JOHNSON P 2022-10-20 2023-07-13
US TREASURY 2.75% 07/31/2023 P 2022-07-06 2023-07-31
L3HARRIS TECHNOLOGIE P 2021-07-23 2023-09-07
FFCB 0.27% 10/05/2023 CALLABLE P 2020-10-01 2023-10-05
CHEVRON CORP P 2023-10-13 2023-12-13
PFIZER INC P 2022-02-24 2023-02-09
CVS HEALTH CORP P 2022-05-18 2023-04-26
ALPHABET INC. C P 2022-05-24 2023-05-02
UNITEDHEALTH GRP INC P 2021-05-14 2023-05-15
ALPHABET INC. C P 2023-05-09 2023-05-18
JOHNSON & JOHNSON P 2023-05-18 2023-07-13
US TREASURY 0.125% 07/31/2023 P 2022-11-04 2023-07-31
L3HARRIS TECHNOLOGIE P 2022-07-15 2023-09-07
AUTOZONE INC P 2022-12-28 2023-10-06
CHEVRON CORP P 2023-10-31 2023-12-13
PFIZER INC P 2022-06-16 2023-02-09
CVS HEALTH CORP P 2022-10-07 2023-04-26
HOME DEPOT INC P 2022-03-22 2023-05-02
UNITEDHEALTH GRP INC P 2022-02-24 2023-05-15
LAM RESEARCH CORP P 2022-05-18 2023-05-18
NVIDIA CORP P 2020-06-11 2023-07-13
FORTREA HOLDINGS INC P 2021-06-21 2023-08-02
L3HARRIS TECHNOLOGIE P 2022-09-23 2023-09-07
AUTOZONE INC P 2023-02-09 2023-10-06
LPL FINL HLDGS P 2023-09-07 2023-12-13
NXP SEMICONDUCTORS P 2022-02-15 2023-02-10
ACCENTURE PLC A P 2020-01-31 2023-04-27
HP INC. P 2021-12-30 2023-05-02
AON PLC A P 2021-03-08 2023-05-16
LAM RESEARCH CORP P 2022-06-02 2023-05-18
APPLE INC P 2022-05-31 2023-07-25
FORTREA HOLDINGS INC P 2021-06-24 2023-08-02
L3HARRIS TECHNOLOGIE P 2023-04-13 2023-09-07
AUTOZONE INC P 2023-02-17 2023-10-06
LPL FINL HLDGS P 2023-09-20 2023-12-13
NXP SEMICONDUCTORS P 2022-07-15 2023-02-10
ACCENTURE PLC A P 2020-02-27 2023-04-27
JOHNSON & JOHNSON P 2022-06-16 2023-05-02
AON PLC A P 2022-07-15 2023-05-16
NVIDIA CORP P 2020-06-11 2023-05-18
APPLE INC P 2022-09-13 2023-07-25
FORTREA HOLDINGS INC P 2021-06-21 2023-08-03
L3HARRIS TECHNOLOGIE P 2023-04-18 2023-09-07
AUTOZONE INC P 2023-04-13 2023-10-06
LPL FINL HLDGS P 2023-09-25 2023-12-13
PFIZER INC P 2020-05-07 2023-02-10
ACCENTURE PLC A P 2020-05-14 2023-04-27
JOHNSON & JOHNSON P 2022-07-15 2023-05-02
ADOBE INC P 2023-04-25 2023-05-18
PIONEER NATURAL RES P 2022-01-13 2023-05-18
APPLE INC P 2023-04-27 2023-07-25
FORTREA HOLDINGS INC P 2022-11-09 2023-08-03
RTX CORP P 2021-01-22 2023-09-12
AUTOZONE INC P 2023-09-07 2023-10-06
LPL FINL HLDGS P 2023-09-07 2023-12-21
PFIZER INC P 2020-05-13 2023-02-10
POLARIS INDUSTRIES P 2022-11-01 2023-04-27
LAM RESEARCH CORP P 2021-08-30 2023-05-02
BROADCOM INC P 2022-06-16 2023-05-18
PIONEER NATURAL RES P 2022-07-15 2023-05-18
ABBVIE INC P 2022-07-15 2023-07-25
NVIDIA CORP P 2020-06-11 2023-08-22
RTX CORP P 2021-02-12 2023-09-12
HOME DEPOT INC P 2022-03-22 2023-10-06
PFIZER INC P 2020-07-02 2023-02-10
US TREASURY 1.625% 04/30/2023 P 2021-09-08 2023-04-30
LAM RESEARCH CORP P 2022-06-02 2023-05-02
BRISTOL-MYERS SQUIBB P 2022-03-24 2023-05-18
BROADCOM INC P 2022-06-16 2023-06-13
ABBVIE INC P 2023-05-18 2023-07-25
NVIDIA CORP P 2020-06-16 2023-08-22
RTX CORP P 2021-02-18 2023-09-12
HOME DEPOT INC P 2022-04-07 2023-10-06
PFIZER INC P 2020-07-21 2023-02-10
APPLE INC P 2023-04-27 2023-05-02
UNITEDHEALTH GRP INC P 2022-02-24 2023-05-02
BRISTOL-MYERS SQUIBB P 2022-03-30 2023-05-18
HP INC. P 2021-12-30 2023-06-13
BROADCOM INC P 2022-06-16 2023-07-25
DANAHER CORP P 2019-12-03 2023-09-07
RTX CORP P 2021-03-04 2023-09-12
OTIS WORLDWIDE CORP P 2023-02-08 2023-10-06
AMAZON.COM INC P 2022-05-31 2023-02-17
AMETEK INC P 2023-02-09 2023-05-02
UNITEDHEALTH GRP INC P 2020-01-31 2023-05-15
BRISTOL-MYERS SQUIBB P 2022-09-16 2023-05-18
HP INC. P 2022-05-18 2023-06-13
CDW CORP P 2019-12-03 2023-07-25
DANAHER CORP P 2020-05-19 2023-09-07
RTX CORP P 2021-03-04 2023-09-12
OTIS WORLDWIDE CORP P 2023-05-18 2023-10-06
NVIDIA CORP P 2020-06-11 2023-03-22
BROADCOM INC P 2022-01-28 2023-05-02
UNITEDHEALTH GRP INC P 2020-04-23 2023-05-15
BRISTOL-MYERS SQUIBB P 2022-10-10 2023-05-18
L3 TECHNOLOGIES, INC 3.85% 06/15/202 P 2020-06-11 2023-06-15
CDW CORP P 2023-05-16 2023-07-25
DANAHER CORP P 2022-07-15 2023-09-07
RTX CORP P 2022-07-15 2023-09-12
CHEVRON CORP P 2023-10-13 2023-12-05
ACCENTURE PLC A P 2020-01-31 2023-04-25
BROADCOM INC P 2022-06-16 2023-05-02
UNITEDHEALTH GRP INC P 2020-04-29 2023-05-15
DEVON ENERGY CORP P 2022-01-13 2023-05-18
BROADCOM INC P 2022-06-16 2023-07-13
HOME DEPOT INC P 2022-03-22 2023-07-25
LAB CO OF AMER HLDG P 2021-06-21 2023-09-07
LILLY ELI & CO P 2023-07-17 2023-09-25
GE HEALTHCARE TECHNO P 2023-07-17 2023-12-05
CVS HEALTH CORP P 2021-09-30 2023-04-26
AUTOZONE INC P 2023-04-13 2023-05-02
UNITEDHEALTH GRP INC P 2020-05-13 2023-05-15
DEVON ENERGY CORP P 2022-01-21 2023-05-18
JOHNSON & JOHNSON P 2020-06-10 2023-07-13
LAB CO OF AMER HLDG P 2021-06-24 2023-07-25
LAB CO OF AMER HLDG P 2021-06-24 2023-09-07
NORFOLK SOUTHERN CO P 2023-05-15 2023-09-25
EXXON MOBIL CORP P 2023-10-13 2023-12-05
(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 160,000   168,176 -8,176
b 97,169   125,435 -28,266
c 29,155   31,799 -2,644
d 48,558   30,677 17,881
e 47,616   67,450 -19,834
30,907   29,350 1,557
89,567   100,769 -11,202
88,168   84,746 3,422
125,549   133,545 -7,996
108,994   123,747 -14,753
45,591   36,650 8,941
22,757   31,235 -8,478
45,766   50,763 -4,997
101,972   67,267 34,705
70,462   98,873 -28,411
34,870   37,213 -2,343
55,996   46,456 9,540
179,662   234,320 -54,658
250,000   250,000  
76,009   78,053 -2,044
88,760   74,862 13,898
25,286   36,371 -11,085
337,358   291,069 46,289
29,135   21,932 7,203
27,662   23,774 3,888
162,462   168,879 -6,417
160,000   159,762 238
51,452   69,066 -17,614
350,000   349,720 280
8,605   9,846 -1,241
78,629   81,389 -2,760
151,713   198,786 -47,073
33,404   33,284 120
72,837   61,632 11,205
166,589   147,432 19,157
45,965   45,826 139
535,000   517,644 17,356
31,209   41,548 -10,339
12,712   12,301 411
19,361   19,554 -193
35,020   37,826 -2,806
59,240   72,403 -13,163
36,510   40,916 -4,406
50,986   47,343 3,643
96,356   78,410 17,946
217,395   44,828 172,567
8,850   11,428 -2,578
290,158   378,771 -88,613
147,456   143,170 4,286
111,160   119,614 -8,454
142,078   146,410 -4,332
73,690   55,791 17,899
37,614   47,842 -10,228
24,902   17,506 7,396
10,706   9,063 1,643
29,158   22,464 6,694
11,444   14,910 -3,466
91,096   108,382 -17,286
221,184   225,536 -4,352
116,663   131,229 -14,566
56,084   48,750 7,334
163,754   115,815 47,939
30,427   31,293 -866
89,647   73,806 15,841
98,102   28,653 69,449
31,101   25,065 6,036
44,683   58,914 -14,231
24,461   29,626 -5,165
22,881   23,367 -486
86,947   95,364 -8,417
37,838   30,631 7,207
23,199   15,101 8,098
41,118   44,446 -3,328
73,906   75,639 -1,733
136,118   138,690 -2,572
67,062   57,134 9,928
12,852   14,943 -2,091
107,618   97,937 9,681
96,609   97,943 -1,334
363,230   392,004 -28,774
45,712   36,308 9,404
299,052   288,231 10,821
21,885   25,444 -3,559
121,024   89,714 31,310
45,711   46,573 -862
75,648   81,833 -6,185
75,728   15,251 60,477
202,662   198,266 4,396
99,619   111,292 -11,673
178,473   134,427 44,046
350,000   358,388 -8,388
66,697   64,447 2,250
404,571   446,318 -41,747
12,766   7,476 5,290
96,151   96,880 -729
183,584   36,011 147,573
48,077   47,106 971
108,409   110,314 -1,905
43,743   34,939 8,804
48,015   47,198 817
125,376   114,977 10,399
175,630   198,556 -22,926
40,807   50,120 -9,313
151,269   82,238 69,031
42,141   24,209 17,932
49,926   49,444 482
488,783   513,559 -24,776
197,529   245,955 -48,426
61,913   63,027 -1,114
247,646   140,486 107,160
31,725   34,481 -2,756
55,028   65,817 -10,789
116,427   81,197 35,230
344,787   216,477 128,310
99,482   100,419 -937
187,810   198,238 -10,428
50,011   17,100 32,911
3,050   2,734 316
92,260   54,172 38,088
120,357   126,123 -5,766
122,000   131,566 -9,566
92,569   82,739 9,830
47,249   47,436 -187
66,568   82,080 -15,512
130,664   149,337 -18,673
31,294   23,763 7,531
33,554   27,413 6,141
109,256   65,059 44,197
47,616   49,217 -1,601
66,458   37,381 29,077
185,466   186,578 -1,112
366,002   398,917 -32,915
158,902   129,888 29,014
109,741   131,004 -21,263
471,033   557,555 -86,522
56,294   54,523 1,771
70,409   40,313 30,096
106,535   104,385 2,150
86,382   80,541 5,841
63,308   64,262 -954
18,454   20,293 -1,839
331,085   349,595 -18,510
57,073   61,989 -4,916
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       -8,176
b       -28,266
c       -2,644
d       17,881
e       -19,834
      1,557
      -11,202
      3,422
      -7,996
      -14,753
      8,941
      -8,478
      -4,997
      34,705
      -28,411
      -2,343
      9,540
      -54,658
       
      -2,044
      13,898
      -11,085
      46,289
      7,203
      3,888
      -6,417
      238
      -17,614
      280
      -1,241
      -2,760
      -47,073
      120
      11,205
      19,157
      139
      17,356
      -10,339
      411
      -193
      -2,806
      -13,163
      -4,406
      3,643
      17,946
      172,567
      -2,578
      -88,613
      4,286
      -8,454
      -4,332
      17,899
      -10,228
      7,396
      1,643
      6,694
      -3,466
      -17,286
      -4,352
      -14,566
      7,334
      47,939
      -866
      15,841
      69,449
      6,036
      -14,231
      -5,165
      -486
      -8,417
      7,207
      8,098
      -3,328
      -1,733
      -2,572
      9,928
      -2,091
      9,681
      -1,334
      -28,774
      9,404
      10,821
      -3,559
      31,310
      -862
      -6,185
      60,477
      4,396
      -11,673
      44,046
      -8,388
      2,250
      -41,747
      5,290
      -729
      147,573
      971
      -1,905
      8,804
      817
      10,399
      -22,926
      -9,313
      69,031
      17,932
      482
      -24,776
      -48,426
      -1,114
      107,160
      -2,756
      -10,789
      35,230
      128,310
      -937
      -10,428
      32,911
      316
      38,088
      -5,766
      -9,566
      9,830
      -187
      -15,512
      -18,673
      7,531
      6,141
      44,197
      -1,601
      29,077
      -1,112
      -32,915
      29,014
      -21,263
      -86,522
      1,771
      30,096
      2,150
      5,841
      -954
      -1,839
      -18,510
      -4,916
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 2 581,863
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 -222,327
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 right arrow 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) 1 15,468
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 15,468
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 15,468
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 5,500
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 18,000
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 23,500
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.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 8,032
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow8,032 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowME
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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
Yes
 
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
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 addressright arrowWWW.COLEMUSEUM.ORG
14
The books are in care ofright arrowMORGAN KNOX Telephone no.right arrow (207) 262-9910

Located atright arrow405 PERRY ROADBANGORME ZIP+4right arrow04401
15
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
15
 
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)
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
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
 
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 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.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
ERIC VOGELL TREASURER
1.00 		0 0 0
12 FENGLER ROAD
SCARBOROUGH,ME04074
KRISTIN VOGELL CHAIR
1.00 		0 0 0
12 FENGLER ROAD
SCARBOROUGH,ME04074
JOHN R THOMAS INTERIM ED
40.00 		35,120 2,245 0
334 MAPLE STREET
BANGOR,ME04401
MICHAEL VARNEY TRUSTEE
1.00 		0 0 0
383 US RTE 1
STE1E BOX 5
SCARBOROUGH,ME04074
SCOTT OXLEY PRESIDENT
40.00 		177,231 226 0
RR 13 BOX 1808
HOLDEN,ME04429
GEORGE EATON TRUSTEE
1.00 		0 0 0
50 HEMLOCK POINT ROAD
ORONO,ME04473
JENNIFER MUNSON MUSEUM DIREC
40.00 		58,869 11,920 0
359 PERRY ROAD
BANGOR,ME04401
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...................right arrow  
Form 990-PF (2023)
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
HM PAYSON & CO INVESTMENT MGR 114,651
ONE PORTLAND SQUARE
5TH FL
PORTLAND,ME04101
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 TRANSPORTATION MUSEUM: TO COLLECT, CONSTRUCT, RESTORE, DISPLAY AND MAINTAIN ANTIQUE EQUIPMENT AND FACILITIES THEMATIC TO EARLY MAINE LIFE, TRANSPORTATION AND INDUSTRY. 822,049
2 PROVIDES READING RECOVERY TRAINING PROGRAM GRANTS TO TEACHERS WORKING WITH IDENTIFIED STRUGGLING 1ST GRADE READERS IN PARTICIPATING SCHOOLS. 123,777
3 SCHOLARSHIP GRANTS TO ELIGIBLE COLLEGE LEVEL STUDENTS AT UNIVERSITY OF MAINE, HUSSON UNIVERSITY, EASTERN MAINE COMMUNITY COLLEGE AND THE CLIFF VINING MEMORIAL SCHOLARSHIP. 50,798
4 PROVIDE FINANCIAL ASSISTANCE TO FACILITATE MEAL DISTRIBUTIONS TO CHILDREN IN NEED THROUGH THE FOOD BANK'S YOUTH AND FAMILY INITIATIVES SUCH AS SCHOOL PANTRY, KID'S CAFE, AND SUMMER LUNCH PROGRAM. 40,000
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
30,961,730
b
Average of monthly cash balances.......................
1b
1,740,582
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
32,702,312
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
32,702,312
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
490,535
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
32,211,777
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,610,589
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
 
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
 
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
 
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
 
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
 
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
 
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
1,142,291
b
Program-related investments—total from Part VIII-B..................
1b
 
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
44,323
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,186,614
Form 990-PF (2023)
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: right arrow$ 1,186,614
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 1,186,614
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 1,186,614
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)
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
1975-02-13
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
692,986 401,165 1,671,506 314,593 3,080,250
b 85% (0.85) of line 2a ......... 589,038 340,990 1,420,780 267,404 2,618,212
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		1,186,614 1,090,608 1,096,096 983,627 4,356,945
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 .... 		1,186,614 1,090,608 1,096,096 983,627 4,356,945
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		1,073,726 1,066,555 1,114,337 905,019 4,159,637
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
SCOTT OXLEY
359 PERRY ROAD
BANGOR,ME04401
(207) 262-9910
bThe form in which applications should be submitted and information and materials they should include:
NO SPECIFIC FORM
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
Form 990-PF (2023)
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)
aPaid during the year
Total .................................right arrow 3a  
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
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
aTICKET SALES         82,510
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 141,791  
4 Dividends and interest from securities ....     14 488,443  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 18,640  
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 581,863 5,676
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory         1,575
11 Other revenue:
aMISCELLANEOUS INCOME 		        3,505
bTAX REFUND         39,032
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   1,230,737 132,298
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,363,035
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
1A TO RECOVER PART OF THE COST OF SERVING THE GENERAL PUBLIC VISITING THE MUSEUM OR USING RESOURCES AND TO OFFSET, IN PART, FREE ADMISSION AND TRANSPORTATION OF SCHOOL GROUPS.
10 SALE OF GIFT AND SOUVENIER ITEMS AT A MARGIN OVER COST IN ORDER TO SUPPORT FREE ADMISSION FOR SCHOOL-AGE CHILDREN AND TO LIMIT THE PRICE OF GENERAL ADMISSION.
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BBSC CPAS 6,776 3,271   3,505

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TY 2023 DepreciationSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
FULLY DEPRECIATED 1983-01-01 17,371 17,371 S/L 10.0000        
PERRY ROAD LAND 1991-01-01 137,000              
PERRY ROAD LAND 1993-01-01 61,133              
MUSEUM LAND 1993-01-01 84,936              
MUSEUM BUILDING 1993-01-01 730,770 730,770 S/L 31.5000        
MUSEUM FLOOR 1994-01-01 14,958 14,958 S/L 10.0000        
JOHN DEERE TRACTOR (405) 1998-06-22 17,000 17,000 200DB 5.0000        
STORAGE GARAGE 1999-07-01 21,391 13,087 S/L 39.0000 548      
SCOOTER LIFT 2000-10-04 1,850 1,850 S/L 5.0000        
BUILDING 359 PERRY 2000-11-05 315,300 170,785 S/L 39.0000 8,084      
LAND 359 PERRY ROAD 2001-11-05 51,700              
IRRIGATION SYSTEM 2003-07-25 9,500 9,500 S/L 15.0000        
997 MID ZTRAK LAWN TRACTOR (405) 2005-11-15 11,721 11,721 S/L 5.0000        
OFFICE EQUIPMENT 2007-11-01 2,583 2,583 200DB 7.0000        
359 PERRY OUTSIDE 2007-11-01 82,556 82,556 150DB 15.0000        
359 PERRY INSIDE 2007-11-01 81,752 31,705 S/L 39.0000 2,096      
WINDOW CURTAIN (359) 2008-03-07 1,840 1,840 200DB 7.0000        
NEW DUCT WORK 2008-05-29 2,440 915 S/L 39.0000 62      
DEHUMIDIFIERS (405) 2008-10-16 2,675 2,675 200DB 7.0000        
SOUND SYSTEM (405) 2009-03-25 16,120 16,120 S/L 7.0000        
PERRY ROAD LAND 2009-08-19 92,501              
CARPETING - GS SECTION (359) 2009-11-30 5,706 5,706 S/L 7.0000        
IMPROVEMENTS 2010-04-17 2,859 932 S/L 39.0000 73      
WINDOWS 359 PERRY RD 2010-10-26 601 188 S/L 39.0000 16      
TELEPHONE & COMPUTER SYSTEM (359) 2010-12-28 43,504 43,504 200DB 7.0000        
HVAC SYSTEM 2010-12-31 12,350 3,800 S/L 39.0000 317      
VINYL AWNING (359) 2013-10-14 1,920 1,920 200DB 7.0000        
COPIER/FAX/SCANNER (359) 2013-11-06 7,331 7,331 200DB 5.0000        
SECURITY SYSTEM (359) 2013-12-09 5,399 5,399 200DB 5.0000        
LAWN BUSHEL DUMP (405) 2013-12-18 3,425 3,425 200DB 5.0000        
APPLE MACBOOK PRO 2014-07-14 1,425 1,425 S/L 5.0000        
L.KJENSTAD MEMORIAL BRIDGE SIGN/BOARDS 2014-07-22 2,460 2,460 200DB 5.0000        
SECURITY SYSTEM (405 PERRY) 2014-12-01 8,682 8,682 200DB 5.0000        
FIRE ALARM/RADIO COMMUNICATOR (405 PERRY) 2014-12-01 1,337 1,337 200DB 5.0000        
2000 TRAILER 2014-12-02 3,500 3,500 200DB 5.0000        
SPRINKLER SYSTEM UPGRADE 2016-10-28 5,610 2,306 S/L 15.0000 374      
MERAKI DUAL BAND SERVER 2017-01-10 1,198 1,198 S/L 5.0000        
8G WATER COOLER 2017-05-08 2,062 2,062 S/L 5.0000        
2018 FORD F150 2017-12-14 24,999 24,999 S/L 5.0000        
XEROX COLOR COPIER - 405 2018-03-30 6,450 6,128 S/L 5.0000 322      
FORD 150 TRUCK WRAP 2018-04-12 3,514 3,338 S/L 5.0000 176      
EXHIBIT SIGNS 2018-11-02 1,826 1,522 S/L 5.0000 304      
CONFERENCE ROOM & BATHROOM RENOVATIONS 2019-03-19 28,875 5,414 S/L 20.0000 1,444      
(1) I7 NUC COMPUTER SYSTEM 19081 2019-09-06 1,054 703 S/L 5.0000 210      
(1) I7 NUC COMPUTER SYSTEM 19081 2019-09-06 1,054 703 S/L 5.0000 210      
3HP AIR COMPRESSOR - SPRINKLER SYS 2020-01-29 4,276 831 S/L 15.0000 286      
NEW MUSEUM ROOF 2020-04-28 300,000 32,000 S/L 25.0000 12,000      
MERAKI PORT SWITCH - SERVER 2020-06-17 5,506 2,753 S/L 5.0000 1,101      
DEHUMIDIFIER 2020-10-16 3,765 1,165 S/L 7.0000 538      
PARKING LOT PAVING 2021-05-21 51,400 5,426 S/L 15.0000 3,426      
DEHUMIDIFIER 2021-05-10 3,958 942 S/L 7.0000 566      
SUPERMICRO SERVER 2021-10-29 12,879 3,005 S/L 5.0000 2,576      
MUSEUM OFFICE RENOVATIONS 2021-12-31 65,000 1,667 S/L 39.0000 1,666      
(1) I5 NUC COMPUTER (CURATORS DESKTOP) 2022-02-17 857 143 S/L 5.0000 171      
(1) HP ENVY LAPTOP (CURATOR) 2022-03-01 1,199 200 S/L 5.0000 240      
DIGITAL TOUCH SCREEN SIGNAGE 2022-12-31 1,247   S/L 5.0000 249      
(1) HP ENVY LAPTOP (ED) 2022-07-01 999 100 S/L 5.0000 133      
(1) HP ENVY LAPTOP (PT REMOTE) 2022-07-01 999 100 S/L 5.0000 200      
ROPE STANCHION AND CHAIN LINK 2022-04-19 5,999 800 S/L 5.0000 1,200      
OFFICE SHADES 2022-04-11 1,385 208 S/L 5.0000 277      
CONFERENCE ROOM CARPET TILE 2022-11-22 6,480 84 S/L 7.0000 925      
BATHOOM RENOVATIONS 2022-12-01 7,277 30 S/L 20.0000 364      
MUSEUM OFFICE RENOVATIONS 2022-03-29 105,534 2,029 S/L 39.0000 2,706      
ID BADGE PRINTER 2022-05-13 720 96 S/L 5.0000 144      
HP PROBOOK LAPTOP & DOCK STATION - PRES 2023-05-16 1,298   S/L 5.0000 151      
DELL DESKTOP - MUSEUM DIRECTOR 2023-06-28                
LED RETROFIT 2023-11-24 4,300   S/L 39.0000 9      
(2) MODINE HANGING UNIT HEATERS 2023-12-04 38,725   S/L 39.0000 83      
2007 APPRECIATION - 359 PERRY RD 2023-12-31 284,700              
REFURBISHED DESKTOP - VOLUNTEER STATION 2023-09-28                

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TY 2023 GainLossSaleOtherAssetsSch
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
997 MID ZTRAK LAWN TRACTOR (405) 2005-11 PURCHASE 2023-06   5,676 11,721     5,676 11,721
(1) HP ENVY LAPTOP (ED) 2022-07 PURCHASE 2023-09   766 999       233

TY 2023 InvestmentsCorpStockSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Name of Stock End of Year Book Value End of Year Fair Market Value
CHARLES SCHWAB EQUITY FUNDS    
CHARLES SCHWAB EQUITIES 19,393,653 27,309,782
CHARLES SCHWAB EXCHANGE TRADED 1,460,107 1,479,614
CHARLES SCHWAB FIXED INCOME 4,622,995 4,526,260
CHARLES SCHWAB MONEY MARKET    
ACCRUED INTEREST NOT PAID    

TY 2023 LandEtcSchedule2
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
BUILDINGS AND EQUIPMENT 2,066,650 1,346,292 720,358 1,005,058
LAND 478,670   478,670 478,670


TY 2023 LegalFeesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL EXPENSES 715     715


TY 2023 OtherAssetsSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
MUSEUM ARTIFACTS 1,485,282 1,493,486 1,493,486


TY 2023 OtherExpensesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXPENSES        
INVESTMENT MANAGEMENT FEES 114,651 114,651    
ADVERTISING 19,595     19,595
BANK & CREDIT CARD FEES 3,177     3,177
DISPLAYS 9,642     9,642
DUES & MEMBERSHIPS 2,356     2,356
FOOD & BEVERAGE 3,134     3,134
MAINTENANCE CONTRACTS 65,631     65,631
SUPPLIES 9,750     9,750
POSTAGE 1,949     1,949
VEHICLE EXPENSE 477     477
VOLUNTEER FUNCTION EXPENSE 16,813     16,813
SIGNS 60     60
INSURANCE 35,269     35,269
REPAIRS & MAINTENANCE 48,594     48,594
COMMUNITY PROGRAMS 151,244     151,244
VETERAN PROGRAMS 49,182     49,182
SCHOOL PROGRAMS 123,777     123,777
ACTIVITY RELATED EXPENSES     82,510  
CASH OVER/SHORT 15     15


TY 2023 OtherIncomeSchedule2
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
TICKET SALES 82,510   82,510
MISCELLANEOUS INCOME 3,505   3,505
TAX REFUND 39,032   39,032


TY 2023 OtherProfessionalFeesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PAYROLL PROCESSING FEES 2,181     2,181


TY 2023 SalesOfInventoryList 
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774

Category Gross Sales Cost of Goods Sold Net (Gross Sales Minus
Cost of Goods Sold)
COUNTER SALES 16,795 15,220 1,575

TY 2023 TaxesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SALES TAX 670     670