TY 2023 Form 990PF

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)
	1	Contributions, gifts, grants, etc., received (attach schedule)	222,066
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	12,840	12,221
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		214,885
b	Gross sales price for all assets on line 6a 242,282
7	Capital gain net income (from Part IV, line 2)...		214,885
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).......
12	Total. Add lines 1 through 11........	449,791	227,106
	13	Compensation of officers, directors, trustees, etc.	5,093	2,801		2,292
14	Other employee salaries and wages......		0	0	0
15	Pension plans, employee benefits.......		0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	1,164	1,164	0	0
c	Other professional fees (attach schedule)....					0
17	Interest...............				0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	2,448	48		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......		0	0
22	Printing and publications..........		0	0
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	2	2
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	8,707	4,015	0	2,292
25	Contributions, gifts, grants paid.......	220,000			220,000
26	Total expenses and disbursements. Add lines 24 and 25	228,707	4,015	0	222,292
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	221,084
b	Net investment income (if negative, enter -0-)		223,091
c	Adjusted net income (if negative, enter -0-)...			0

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.............
	2	Savings and temporary cash investments.........	36,548	66,318	66,822
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	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 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	85,514	List of Attached Documents: // Content 65,415	64,758
	b	Investments—corporate stock (attach schedule).......	160,203	List of Attached Documents: // Content 169,292	446,159
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	282,265	301,025	577,739
	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
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	282,265	301,025
	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).....	282,265	301,025
	30	Total liabilities and net assets/fund balances (see instructions).	282,265	301,025

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

282,265

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

221,084

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

List of Attached Documents:

// Content

434

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

503,783

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

202,758

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

301,025

(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.)		(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	105. CATERPILLAR INC	2015-09-03	2023-02-14
b	108. MICROSOFT CORP	2008-12-23	2023-08-08
c	10. APPLE INC	2012-05-18	2023-11-30
d	75. CISCO SYSTEMS INC	2002-11-21	2023-11-30
e	25. JOHNSON & JOHNSON	1985-11-16	2023-11-30
	25. MERCK & CO INC	1979-03-02	2023-11-30
	422. MICROSOFT CORP	2008-12-29	2023-11-30
	75. RTX CORPORATION	2012-05-18	2023-11-30
	10. LINDE PLC	2018-10-31	2023-11-30

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	25,586	7,798	17,788
b	35,155	2,077	33,078
c	1,887	192	1,695
d	3,597	1,160	2,437
e	3,843	75	3,768
	2,534	41	2,493
	159,409	11,504	147,905
	6,124	2,915	3,209
	4,147	1,635	2,512

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			17,788
b			33,078
c			1,695
d			2,437
e			3,768
			2,493
			147,905
			3,209
			2,512

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	214,885
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

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	3,101
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	3,101
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	3,101
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	2,602
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

7	Total credits and payments. Add lines 6a through 6d..............		7	2,602
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	499
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax0	Refunded	11	0

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
RICHARD K NICHOLS SEE FOOTNOTE	TRUSTEE 0	5,093
NICHOLS PRATT LLP 50 CONGRESS ST BOSTON,MA02109
WILLIAM B HURD JR SEE FOOTNOTE	TRUSTEE 0	0
NICHOLS PRATT LLP 50 CONGRESS ST BOSTON,MA02109

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1	NONE
2


All other program-related investments. See instructions.
3

		(a) Corpus	(b) Years prior to 2022	(c) 2022	(d) 2023
1 Distributable amount for 2023 from Part X, line 7					24,250
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2022:
a From 2018......	119,475
b From 2019......	120,403
c From 2020......	131,064
d From 2021......	132,841
e From 2022......	131,880
f Total of lines 3a through e ........		635,663
4Qualifying distributions for 2023 from Part
XI, line 4: $ 222,292
a Applied to 2022, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2023 distributable amount.....					24,250
e Remaining amount distributed out of corpus		198,042
5 Excess distributions carryover applied to 2023.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		833,705
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2018 not applied on line 5 or line 7 (see instructions) ...		119,475
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		714,230
10 Analysis of line 9:
a Excess from 2019....	120,403
b Excess from 2020....	131,064
c Excess from 2021....	132,841
d Excess from 2022....	131,880
e Excess from 2023....	198,042

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

b 85% (0.85) of line 2a .........
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

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:

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
NEW ENGLAND LEARNING CTR FOR WOMEN IN TRASITION PO BOX 520 GREENFIELD,MA013020520	NONE	PUBLIC CHARITY	GENERAL SUPPORT	50,000
PARTNERS IN HEALTH PO BOX 996 FREDERICK,MD217059942	NONE	PUBLIC CHARITY	GENERAL SUPPORT	30,000
BRIGHAM & WOMEN'S HOSPITAL 263 HUNTINGTON AVE SUITE 318 BOSTON,MA02115	NONE	PUBLIC CHARITY	AFRICAN WOMEN'S HEALTH	20,000
NATIONAL INDIGENOUS WOMEN'S RESOURCE CEN PO BOX 99 LAME DEER,MT59043	NONE	PUBLIC CHARITY	UNRESTRICTED SUPPORT	5,000
NOFA-VT Erin Buckwalter DEVELOPMENT ENGAGEMENT DIRECTOR Richmond,VT05477	NONE	PUBLIC CHARITY	FARMER EMERGENCY FUND	10,000
Vermont Community Foundation Jenn Hansen Gift Processing Specialist 3 COURT STREET Middlebury,VT05753	NONE	PUBLIC CHARITY	VT FLOOD RESPONSE &	25,000
SAFE PASSAGE 76 CARLON DRIVE SUITE A NORTHAMPTON,MA01060	NONE	PUBLIC CHARITY	GENERAL SUPPORT	35,000
AMERICAN RED CROSS 2025 E STREET NW WASHINGTON,DC20006	NONE	PUBLIC CHARITY	TURKEY EARTHQUATE RELIEF	25,000
WOMEN'S FREEDOM CENTER P O BOX 933 BRATTLEBORO,VT05201	NONE	PUBLIC CHARITY	GENERAL SUPPORT	20,000
Total ................................. 3a				220,000

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

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	12,840
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	214,885
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				227,725

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

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.

Name of organization GRACE RIVER FOUNDATION

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	WILLIAM B HURD JR POBOX 397 JACKSONVILLE, VT05342	$ 222,066	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)


(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

bApproved for future payment

Total ................................. 3b

Name of organization GRACE RIVER FOUNDATION		Employer identification number 04-3562515

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
1	105 SHS OF CATERPILLAR, INC 108 SHS OF MICROSOFT CORP 300 SHS OF MICROSOFT CORP 122 SHS OF MICROSOFT	$ 222,066	2023-11-30
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2023)


Name of organization GRACE RIVER FOUNDATION			Employer identification number 04-3562515
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

Name of Stock	End of Year Book Value	End of Year Fair Market Value
TJX COS INC	3,529	9,381
COCA COLA CO	2,215	5,893
CVS HEALTH CORP	10,769	9,870
PEPSICO INC	5,543	21,230
PROCTER & GAMBLE CO	4,768	21,981
MASTERCARD INC CL A	4,674	21,326
JOHNSON & JOHNSON	451	23,511
MERCK & CO INC	123	8,177
NOVO NORDISK AS SPONS ADR	4,217	15,518
CATERPILLAR INC	2,050	14,784
AUTOMATIC DATA PROCESSING INC	4,035	23,297
CISCO SYSTEMS INC	1,933	6,315
FISERV INC	1,116	16,605
MICROSOFT CORP	1,923	37,604
QUALCOMM INC	5,726	10,847
VERIZON COMMUNICATIONS	8,850	7,540
KINDER MORGAN INC	12,042	14,041
SOUTHERN COMPANY	3,380	7,012
AMAZON.COM INC	6,539	9,116
ACCENTURE PLC CL A	3,985	8,773
LINDE PLC	6,538	16,428
ALPHABET INC CL C	7,956	16,912
ISHARES RUSSELL 2000 ETF	1,682	2,007
ALCON INC	4,063	6,250
STRYKER CORPORATION	5,045	7,487
INTUIT INC	7,251	15,626
ECOLAB INC	4,649	4,959
IQVIA HOLDINGS INC	5,831	6,941
FASTENAL CO	4,683	6,477
RAYTHEON TECHNOLOGIES CORP
PHREESIA INC	2,363	1,389
SHERWIN WILLIAMS CO	4,369	5,614
EXXON MOBILE CORP	18	9,998
GLOBAL PAYMENTS INC	7,489	9,525
APPLE INC	2,499	25,029
THERMO FISHER SCIENTIFIC IN	5,902	6,369
RENTOKIL INITIAL PLC SPONS ADR	5,478	5,722
ASPEN TECHNOLOGY INC	5,608	6,605

Description	Amount
GIFT STOCK MV TO BOOK ADJUSTMENT	201,696
KINDER MORGAN ROC ADJUSTMENT	878
FED TREA POSTED IN 2024 TAXED IN 2023	184

Description	Amount
2022 PURCHASED ACCRUED INT ADJ	267
FED TREA POSTED IN 2023 TAXED IN 2024	157
ROUNDING ADJ	10

Software ID:
Software Version: