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
JANE'S TRUST FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)HEMENWAY BARNES LLP PO BOX 96120
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BOSTON, MA021961209
A Employer identification number

27-3422536
B Telephone number (see instructions)

(617) 227-7940
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$72,597,834J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,167,217 1,165,712  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,450,495
b Gross sales price for all assets on line 6a 5,722,882
7 Capital gain net income (from Part IV, line 2)... 1,389,589
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
78,909 108,590  
12 Total. Add lines 1 through 11........ 2,696,621 2,663,891  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 146,570 73,285   73,285
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
1,106 553   553
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
49,079 24,540   24,539
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
246,107 246,107   0
17 Interest............... 26,783 26,783   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
78,276 48,276   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
530,127 522,298   8,270
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,078,048 941,842   106,647
25 Contributions, gifts, grants paid....... 3,579,000 3,579,000
26 Total expenses and disbursements. Add lines 24 and 25 4,657,048 941,842   3,685,647
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,960,427
b Net investment income (if negative, enter -0-) 1,722,049
c Adjusted net income (if negative, enter -0-)...  
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............. 0    
2 Savings and temporary cash investments......... 86,134 1,655,770 1,655,770
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..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 12,641,819 Click to see attachment
List of Attached Documents:
// Content
9,405,092 		13,578,321
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).......... 54,700,490 Click to see attachment
List of Attached Documents:
// Content
55,272,401 		57,363,743
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 67,428,443 66,333,263 72,597,834
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
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...........    
25 Net assets with donor restrictions............    
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........ 6,604,742 6,604,742
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 60,823,701 59,728,521
29 Total net assets or fund balances (see instructions)..... 67,428,443 66,333,263
30 Total liabilities and net assets/fund balances (see instructions). 67,428,443 66,333,263
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
67,428,443
2
Enter amount from Part I, line 27a .....................
2
-1,960,427
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
941,052
4
Add lines 1, 2, and 3 ..........................
4
66,409,068
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
75,805
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
66,333,263
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 K-1 IR&M CORE BOND FUND P    
b K-1 TA XIII-B, L.P. P    
c K-1 BANCRO 2006 VENTURE CAPITAL FUND LLC P    
d HRJ GLOBAL BUY-OUT (EUROPE), L.P. P    
e HRJ GLOBAL BUY-OUT (US), L.P. P    
K-1 CAPITAL DYNAMICS CHAMPION VENTURES VI, LP P    
K-1 CAPITAL DYNAMICS CHAMPION VENTURES VI, LP P    
K-1 CAPITAL DYNAMICS CHAMPION VENTURES VI, LP P    
K-1 CAPITAL DYNAMICS TRANS PTNRS 2021, LP P    
K-1 CAPITAL DYNAMICS TRANS PTNRS 2021, LP P    
K-1 ACCOLADE PARTNERS VIII, L.P. P    
K-1 CLEAN GROWTH FUND IV, LP P    
K-1 GLOBAL RES OPTIM FUND LP P    
K-1 GLOBAL RES OPTIM FUND LP P    
K-1 HRJ CAPITAL VC VI INTL LP P    
K-1 SUSTAIN ASSET FUND II LP P    
K-1 SUSTAIN ASSET FUND II LP P    
K-1 TA XIV-B LP P    
K-1 TA XIV-B LP P    
K-1 CLEAN GROWTH FUND V, LP P    
K-1 CLEAN GROWTH FUND V, LP P    
K-1 CLEAN GROWTH FUND IV, LP P    
K-1 ACCOLADE PARTNERS VIII, L.P. P    
K-1 BANCRO 2006 VENTURE CAPITAL FUND LLC P    
K-1 ACCOLADE PARTNERS VII, L.P. P    
K-1 IR&M CORE BOND FUND P    
K-1 BASE10 ADVANCEMENT INITIATIVE I LP P    
K-1 GQG PARTNERS GLOBAL EQUITY FUND P    
K-1 GQG PARTNERS GLOBAL EQUITY FUND P    
K-1 CLEAN ENERGY FUND, L.P. P    
K-1 CLEAN ENERGY FUND, L.P. P    
K-1 PALMER SQUARE ULTRA-SHORT DURATION P    
K-1 PALMER SQUARE ULTRA-SHORT DURATION P    
K-1 WHITESPRUCE FUND LP P    
K-1 ACCOLADE PARTNERS VII, L.P. P    
K-1 DAVIDSON KEMPNER INST PTNRS L.P. P    
K-1 WHITESPRUCE FUND LP P    
K-1 STRATEGIC INVESTORS FUND IV, L.P. P    
K-1 STRATEGIC INVESTORS FUND IV, L.P. P    
K-1 LL MORTGAGE FUND LP P    
K-1 LL MORTGAGE FUND LP P    
K-1 WYNNCHURCH CAPITAL PARTNERS V, LP P    
K-1 ASIA ALTERNATIVES CAPITAL PARTNERS II, L.P. P    
K-1 AACP INVESTORS, L.P. P    
K-1 AACP INVESTORS, L.P. P    
K-1 DAVIDSON KEMPNER INST PTNRS L.P. P    
K-1 TA XIII-B, L.P. P    
ARTISAN INST VALUE FD INST SHARES P 2015-12-29 2023-01-12
ARTISAN INST VALUE FD INST SHARES P 2015-12-29 2023-05-31
H&B LLP - PUBLICLY TRADED SECURITIES P    
H&B LLP - PUBLICLY TRADED SECURITIES P    
K-1 STRATEGIC INVESTORS FUND IV, L.P. P    
K-1 CAPITAL DYNAMICS TRANS PTNRS 2021, LP P    
K-1 TUCKERBROOK SB GLOBAL DISTRESSED FUND I, LP P    
K-1 TUCKERBROOK SB GLOBAL DISTRESSED FUND I, LP P    
K-1 THE OVERLOOK PARTNERS FUND LP P    
K-1 THE OVERLOOK PARTNERS FUND LP P    
PFIC - THE CHILDREN'S INVESTMENT FUND P    
KABOUTER INTERNATIONAL OPPORTUNITIES P   2023-05-12
K-1 STEWART INVESTORS GEMLS FUND (DST) P    
K-1 STEWART INVESTORS GEMLS FUND (DST) P    
K-1 BANCRO 2006 VENTURE CAPITAL FUND LLC P    
K-1 POLUNIN DEVELOPING COUNTRIES FUND LLC P    
K-1 POLUNIN DEVELOPING COUNTRIES FUND LLC P    
K-1 NITORUM OFFSHORE FUND, LTD. P    
CAPITAL GAINS DIVIDENDS P    
(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       -10,168
b       -2,428
c       -17,854
d       -99,819
e       -20,526
      -394
      38,162
47,908   47,908 0
      -1,536
      187,351
      3,184
      182
      4,115
      143,017
      44,749
      -12,679
      -19,018
      -1,024
      27,635
      904
      49,221
      37,327
      -367
      -1,034
      1,320
      -230,619
      -33,735
      -128,151
      63,429
      78,521
      -35,845
      5,409
      744
      37,221
      2,688
      -18,588
      -104,840
      24
      24,351
      6,534
      182
      923
      230,686
      53
      344
      5,403
      52,952
1,000,000   864,266 135,734
250,000   192,935 57,065
760,786   741,079 19,707
3,531,300   3,327,862 203,438
2,019   2,019 0
192   192 0
      -30
      -5,020
      2,288
      -23,532
      428,035
33,209     33,209
      8,960
      10,958
10,787   10,787 0
      3,691
      73,157
      47,242
86,681     86,681
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       -10,168
b       -2,428
c       -17,854
d       -99,819
e       -20,526
      -394
      38,162
      0
      -1,536
      187,351
      3,184
      182
      4,115
      143,017
      44,749
      -12,679
      -19,018
      -1,024
      27,635
      904
      49,221
      37,327
      -367
      -1,034
      1,320
      -230,619
      -33,735
      -128,151
      63,429
      78,521
      -35,845
      5,409
      744
      37,221
      2,688
      -18,588
      -104,840
      24
      24,351
      6,534
      182
      923
      230,686
      53
      344
      5,403
      52,952
      135,734
      57,065
      19,707
      203,438
      0
      0
      -30
      -5,020
      2,288
      -23,532
      428,035
      33,209
      8,960
      10,958
      0
      3,691
      73,157
      47,242
      86,681
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 1,389,589
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
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 23,936
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 23,936
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 23,936
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 160,513
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.............. 7 160,513
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
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 10 136,577
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow136,577 Refundedright arrow 11 0
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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
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 arrowMA
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
 
No
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 arrowN/A
14
The books are in care ofright arrowHEMENWAY BARNES LLP Telephone no.right arrow (617) 227-7940

Located atright arrow75 STATE STREETBOSTONMA ZIP+4right arrow021091466
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
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 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
Yes
 
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
 
No
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
NANCY B GARDINER TRUSTEE
1.25 		73,285 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
KURT F SOMERVILLE TRUSTEE
1.25 		73,285 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
JESSICA GRIFFITHS TRUSTEE
1.25 		0 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
JEAN B STEVENSON TRUSTEE
1.25 		0 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
ELIZABETH STEELE TRUSTEE
1.25 		0 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
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 0
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
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
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
13,815,882
b
Average of monthly cash balances.......................
1b
1,620,254
c
Fair market value of all other assets (see instructions)................
1c
57,978,039
d
Total (add lines 1a, b, and c).........................
1d
73,414,175
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
73,414,175
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,101,213
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
72,312,962
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
3,615,648
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
3,615,648
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
23,936
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
23,936
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
3,591,712
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
3,591,712
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
3,591,712
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
3,685,647
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,685,647
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 3,591,712
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 3,557,075
b Total for prior years:20 , 20, 20 0
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 ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 3,685,647
a Applied to 2022, but not more than line 2a 3,557,075
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..... 128,572
e Remaining amount distributed out of corpus 0
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 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 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 .......... 		3,463,140
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) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
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
 
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
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
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)
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

BIGELOW LABORATORY FOR OCEAN SCIENCES

60 BIGELOW DRIVE
EAST BOOTHBAY,ME04544 		NONE PUBLIC CHARITY CLIMATE CHANGE-RELATED OCEANOGRAPHIC RESEARCH 100,000

CHAMPLAIN VALLEY OFFICE OF ECONOMIC OPPORTUNITY

PO BOX 2771
BURLINGTON,VT05402 		NONE PUBLIC CHARITY WARMTH PROGRAM 30,000

CONSERVATION LAW FOUNDATION INC

62 SUMMER STREET
BOSTON,MA02110 		NONE PUBLIC CHARITY CLEAN WATER AND CLIMATE RESILIENCE ADVOCACY IN NORTHERN NEW ENGLAND 100,000

ENVIRONMENTAL FUNDERS NETWORK

USM GLICKMAN FAMILY LIBRARY
PORTLAND,ME041049301 		NONE PUBLIC CHARITY 2023 EFN DUES 7,500

GULF OF MAINE RESEARCH INSTITUTE

350 COMMERCIAL STREET
PORTLAND,ME04101 		NONE PUBLIC CHARITY CONNECTING GULF OF MAINE COMMUNITIES TO THE SCIENCE OF COASTAL HAZARDS 85,000

INTERNATIONAL INSTITUTE OF NEW ENGLAND INC

2 BOYLSTON STREET 3RD FLOOR
BOSTON,MA02116 		NONE PUBLIC CHARITY WELCOME, INTEGRATION, AND NATURALIZATION FOR NEW HAMPSHIRE REFUGEES 25,000

ISLAND INSTITUTE

386 MAIN STREET
ROCKLAND,ME04841 		NONE PUBLIC CHARITY CLIMATE SOLUTIONS FOR OUR BLUE FUTURE 150,000

JAG PRODUCTIONS COMPANY

PO BOX 354
WHITE RIVER JUNCTION,VT05001 		NONE PUBLIC CHARITY JAG MUSICAL THEATRE LAB 125,000

MAINE INITIATIVES INC

56 NORTH STREET SUITE 100
PORTLAND,ME04101 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000

MASSACHUSETTS GENERAL HOSPITAL

125 NASHUA STREET SUITE 540
BOSTON,MA02114 		NONE PUBLIC CHARITY A STEELE LABS FELLOWSHIP 100,000

MOTE MARINE LABORATORY

1600 KEN THOMPSON PARKWAY
SARASOTA,FL34236 		NONE PUBLIC CHARITY NEXT GENERATION SCIENCE: POSTDOCTORAL FELLOWS PROGRAM 125,000

NATURE CONSERVANCY

25 NORTH BROWN AVENUE
ORLANDO,FL32801 		NONE PUBLIC CHARITY FLORIDA CLIMATE ACTION AND CLIMATE RESILIENCE PROGRAM 100,000

NEW ENGLAND GRASSROOTS ENVIRONMENT FUND INC

PO BOX 611
NEWMARKET,NH03857 		NONE PUBLIC CHARITY OPERATING SUPPORT FOR CLIMATE GRASSROOTS ACTION. 75,000

NEW HAMPSHIRE SUSTAINABLE ENERGY ASSOCIATION

30 LONG POND ROAD
CONCORD,NH03301 		NONE PUBLIC CHARITY OPERATING SUPPORT FOCUSED ON CAPACITY BUILDING FOR LOCAL ENERGY SUPPORT, ORGANIZATIONAL DEVELOPMENT AND OUTREACH 80,000

OPEN SPACE INSTITUTE LAND TRUST INC

1350 BROADWAY SUITE 201
NEW YORK,NY100180983 		NONE PUBLIC CHARITY THE CLIMATE CATALYST PROGRAM 107,500

POSITIVE TRACKS INC

35 SOUTH MAIN STREET SUITE 105
HANOVER,NH03755 		NONE PUBLIC CHARITY A NEW WEB-BASED APPLICATION PLATFORM AND A NEW COMMUNICATION AND OUTREACH MANAGER 100,000

SHELBURNE FARMS

1611 HARBOR ROAD
SHELBURNE,VT05482 		NONE PUBLIC CHARITY CLIMATE CHANGE EDUCATION PROGRAMS 178,000

THEATRE UP

PO BOX 786
LITTLETON,NH03561 		NONE PUBLIC CHARITY OPERATING SUPPORT FOCUSED ON STAFF EXPANSION IN ADVANCE OF COMPREHENSIVE CAMPAIGN 70,000

UNIVERSITY OF MAINE SYSTEM INC

5717 CORBETT HALL ROOM 424
ORONO,ME044695717 		NONE PUBLIC CHARITY ADAPTIVE RESILIENCY TO CLIMATE CHANGE WITH WABANAKI COMMUNITIES 50,000

UNIVERSITY SYSTEM OF NEW HAMPSHIRE

131 MAIN STREET
DURHAM,NH038243547 		NONE PUBLIC CHARITY EXPANDING AND SUSTAINING THE UNH SUSTAINABILITY FELLOWS 125,000

VERMONT LAW SCHOOL INC

164 CHELSEA STREET
SOUTH ROYALTON,VT05068 		NONE PUBLIC CHARITY THE CLIMATE JUSTICE PROJECT 80,000

VERMONT NATURAL RESOURCES COUNCIL INC

11 BALDWIN STREET
MONTPELIER,VT05602 		NONE PUBLIC CHARITY COMMUNITY BASED, EQUITY-FOCUSED CLIMATE AND ENERGY WORK IN VERMONT. 125,000

VERMONT SUSTAINABLE JOBS FUND INC

3 PITKIN COURT SUITE 301
MONTPELIER,VT05602 		NONE PUBLIC CHARITY THE DELTACLIMEVT CLIMATE & ENERGY BUSINESS ACCELERATOR 75,000

VITAL COMMUNITIES

195 NORTH MAIN STREET
WHITE RIVER JUNCTION,VT05001 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 100,000

WHITE MOUNTAIN SCIENCE INC

23 AMMONOOSUC STREET SUITE 1
LITTLETON,NH03561 		NONE PUBLIC CHARITY OPERATING SUPPORT FOCUSED ON GROWTH AND SUSTAINABILITY 75,000

HOWARD CENTER

208 FLYNN AVENUE SUITE 3J
BURLINGTON,VT054015420 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 100,000

INSTITUTE FOR NONPROFIT PRACTICE

1834 CENTRE STREET 320556
BOSTON,MA02132 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 75,000

MAINE COMMUNITY FOUNDATION

245 MAIN STREET
WELLSWORTH,ME046051613 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

LEBANON OPERA HOUSE IMPROVEMENT CORPORATION

51 NORTH PARK STREET
LEBANON,NH03766 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 100,000

REPRODUCTIVE EQUITY NOW FOUNDATION

70 FRANKLIN STREET FL 5
BOSTON,MA02110 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 100,000

RESIST INC

PO BOX 301240
BOSTON,MA02130 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 150,000

OUT MAINE

63 PARK STREET
ROCKLAND,ME04841 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000

GRANITE STATE ORGANIZING PROJECT

1045 ELM STREET 201
MANCHESTER,NH03101 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

MAINE ENVIRONMENTAL EDUCATION ASSOCIATION

PO BOX 413
BRUNSWICK,ME04011 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

OUTRIGHT VERMONT

241 N WINOOSKI AVENUE
BURLINGTON,VT054015420 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000

UPSTREAM USA INC

2 OLIVER STREET
BOSTON,MA02109 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

WABANAKI PUBLIC HEALTH AND WELLNESS

16 CENTRAL STREET
BANGOR,ME04401 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 45,000

NAMI MAINE INCORPORATED

52 WATER STREET
HALLOWELL,ME04347 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

URBAN FARMING INSTITUTE OF BOSTON OF BOSTON INC

487 NORFOLK STREET
MATTAPAN,MA02126 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

UNIVERSITY OF NEW HAMPSHIRE FOUNDATION

9 EDGEWOOD ROAD
DURHAM,NH03824 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 1,000

MAINE PUBLIC BROADCASTING CORPORATION

1450 LISBON STREET
LEWISTON,ME04240 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 20,000

CLEMMONS FAMILY FARM

2213-2122 GREENBUSH ROAD
CHARLOTTE,VT05445 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 100,000

WOMEN'S INFORMATION SERVICE INC

38 BANK STREET
LEBANON,NH03766 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

FRIENDS OF KATAHDIN WOODS AND WATERS

PO BOX 18177
PORTLAND,ME04112 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 75,000

BLACK HERITAGE TRAIL OF NEW HAMPSHIRE

222 COURT STREET
PORTSMOUTH,NH03801 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

NEW LEARNING JOURNEY

700 BRAGG HILL ROAD
WAITSFIELD,VT05673 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

NAMI NEW HAMPSHIRE INCORPORATED

85 NORTH STATE STREET
CONCORD,NH03301 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 100,000
Total .................................right arrow 3a 3,579,000
bApproved for future payment
Total ................................. right arrow 3b 0
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
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 .... 523000 1,505 14 1,165,712  
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 .....     01 108,590  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 1,450,495  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aK-1 CLEAN GROWTH FUND IV 		523000 -2,742 14    
bK-1 TA XIII-B, LP 523000 14 14    
cK-1 GQG PARTNERS GLOBAL EQUITY FD 523000 -169 14    
dK-1 TUCKERBROOK SB GLOBAL 523000 1,138 14    
eK-1 ACCOLADE PARTNERS VII 523000 -6,737 14    
fK-1 CLEAN GROWTH FUND V, LP 523000 8,799 14    
gK-1 SUSTAINABLE ASSET FUND II, LP 523000 -11,371 14    
hK-1 BANCRO 2006 VENTURE FIND LLC 523000 87 14    
iK-1 CAPITAL DYNAMICS TRANSACTION PARTNERS 2021 LP 523000 -15,733 14    
jK-1 ACCOLADE PARTNERS VIII LP 523000 -1,700 14    
kK-1 ACCOLADE PARTNERS IX, LP 523000 -228 14    
lK-1 BASE10 ADVANCEMENT INITIATIVE II LP 523000 -921 14    
mK-1 TA XIV-B, L.P. 523000 158 14    
nK-1 TRIDENT VIII, L.P. 523000 -276 14    
12 Subtotal. Add columns (b), (d), and (e) .. -28,176 2,724,797 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,696,621
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (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:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 49,079 24,540   24,539

TY 2023 InvestmentsCorpStockSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Name of Stock End of Year Book Value End of Year Fair Market Value
2,300 ABBOTT LABS 120,438 253,161
150 ADOBE SYS 80,279 89,490
2,000 ALPHABET INC CL A 85,804 279,380
1,800 AMAZON.COM 169,829 273,492
1,277 ANALOG DEVICES 100,840 253,561
1,300 APPLE INC 38,748 250,289
2,000 APTARGROUP 180,718 247,240
1,100 APTIV PLC 154,259 98,692
1,000 AUTOMATIC DATA PROCESSING 101,272 232,970
500 BECTON DICKINSON 116,477 121,915
2,000 CANADIAN NATL RAILWAY 135,551 251,260
400 CHURCH & DWIGHT 22,590 37,824
800 CVS HEALTH 53,073 63,168
950 DANAHER CORP 76,199 219,773
2,250 FISERV 162,774 298,890
750 HOME DEPOT 128,886 259,913
750 HONEYWELL INTL 130,018 157,283
1,200 JOHNSON & JOHNSON 166,891 188,088
700 MASTERCARD 78,432 298,557
800 MICROSOFT CORP 58,997 300,832
1,800 NESTLE SA ADR 150,308 208,134
2,500 NEXTERA ENERGY 182,177 151,850
1,700 NIKE INC CLASS B 176,288 184,569
360 NOVARTIS AG ADR 21,186 36,349
450 NVIDIA CORP 15,273 222,849
2,250 PINTEREST INC 94,269 83,340
1,500 PROCTER & GAMBLE 145,277 219,810
865 ROCKWELL AUTOMATION 140,523 268,565
2,850 TJX COS 168,089 267,359
450 UNITED HEALTH GROUP 140,559 236,912
400 VEEVA SYSTEMS INC 90,090 77,008
600 WASTE MANAGEMENT INC 43,277 107,460
1,600 XYLEM INC 87,877 182,976
28,732 VANGUARD RUSSELL 1000 VALUE INDEX FUND ETF 2,000,780 2,084,219
102,164.76 ADVISERS INVT TR JOHCM INTL SL CL I 2,126,264 2,368,179
46,594.42 ARTISAN INTL VALUE INST 1,290,186 2,141,479
1,750 MEDTRONIC 167,227 144,165
1,398 ADVANCED MICRO DEVICES INC 48,201 206,079
125 ASML HOLDING NV 65,490 94,615
3,668 RECURSION PHARMACEUTICALS INC 24,605 36,166
2,000 SCHNEIDER ELEC SA ADR 65,071 80,460

TY 2023 InvestmentsOtherSchedule2
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ABDIEL QUALIFIED OFFSHORE PARTNERS LTD AT COST 886,362 996,959
ACCOLADE PARTNERS VII AT COST 831,114 1,363,704
ACCOLADE PARTNERS VIII AT COST 607,498 667,313
ASIA ALTERNATIVES CAPITAL PARTNERS INVESTORS, L.P. AT COST 47,464 80,777
ASIA ALTERNATIVES CAPITAL PARTNERS II, L.P. AT COST 104,345 261,546
AVESI PARTNERS FUND I, LP AT COST 139,326 213,162
BANCRO 2006 VENTURE CAPITAL FUND LLC AT COST 589,339 1,174,504
BASE 10 ADVANCEMENT INITIATIVE I LP AT COST 401,723 393,216
CAMBER CAPITAL OFFSHORE FUND LTD AT COST 1,668,312 1,654,845
CAPITAL DYNAMICS TRANSACTION PARTNERS 2021 LP AT COST 944,972 1,203,552
THE CHILDREN'S INVESTMENT FUND AT COST 5,586,737 3,954,709
CLEAN GROWTH FUND IV AT COST 32,613 250,326
CLEAN GROWTH FUND V AT COST 327,421 509,534
D1 CAPITAL PARTNERS OFFSHORE AT COST 1,856,796 1,928,449
DAVIDSON KEMPNER PARTNERS AT COST 2,535,549 2,456,231
GAOLING FEEDER LTD AT COST 1,532,159 700,896
GLOBAL RESOURCE OPTIMIZATION FUND, L.P. AT COST 2,127,389 1,964,033
GQG PARTNERS GLOBAL EQUITY FUND - GQG PARTNERS SERIES LLC AT COST 2,125,341 2,948,729
IR&M CORE BOND FUND AT COST 6,334,380 5,458,561
CLEAN ENERGY FUND, L.P. AT COST 2,373,556 2,535,623
LL MORTGAGE FUND AT COST 1,481,459 1,398,017
MATRIX CAPITAL MANAGMENT FUND OFFSHORE AT COST 1,750,000 1,774,185
NITORUM OFFSHORE FUND LP AT COST 1,358,824 995,450
OBVIOUS GROWTH I, L.P. AT COST 383,749 502,790
OBVIOUS PRIME II LP AT COST 200,346 141,225
THE OVERLOOK PARTNERS FUND LP AT COST 1,242,826 1,261,630
PARK PRESIDIO CAPITAL OFFSHORE FUND AT COST 1,500,000 2,123,619
POLUNIN DEVELOPING COUNTRIES FUND LLC AT COST 1,610,647 1,288,440
SILVER LAKE PARTNERS VI, L.P. AT COST 39,466 912,029
STEWART INVESTORS GLOBAL EMERGING MRKT LEADERS AT COST 1,254,253 1,080,445
SUSTAINABLE ASSET FUND III, (US FEEDER), L.P. AT COST 601,857 540,852
SUSTAINBLE ASSET FUND II, LP AT COST 632,688 1,047,755
STRATEGIC INVESTORS FD IV, L.P. AT COST 327,960 724,709
TA XIII-B, L.P. AT COST 851,191 1,266,306
TA XIV-B, L.P. AT COST 704,088 641,683
TRIDENT VIII, L.P. AT COST 849,530 1,220,239
TUCKERBROOK SB GLOBAL DISTRESSED FUND I, LP AT COST 134,728 181,598
VALINOR CAPITAL PARTNERS OFFSHORE LTD AT COST 240,658 60,502
VARDE INVESTMENT PARTNERS OFFSHORE AT COST 2,065,155 1,936,558
WHITESPRUCE FUND AT COST 2,234,297 2,604,080
WYNNCHURCH CAPITAL PARTNERS V, LP AT COST 635,487 853,880
YIHENG CAPITAL OFFSHORE PARTNERS LTD AT COST 1,342,098 1,044,313
CAPITAL DYNAMICS CHAMPION VENTURES VI, L.P. AT COST 375,965 559,233
HRJ CAPITAL VC VI (INTERNATIONAL), L.P. AT COST 19,758 313,011
HRJ GLOBAL BUY-OUT III (EUROPE), L.P. AT COST 146,680 11,237
HRJ GLOBAL BUY-OUT III (U.S.), L.P. AT COST 37,547 74,936
SLP VI REGAL FEEDER I LP AT COST 48,779 48,779
PALMER SQUARE ULTRA-SHORT DURATION INVESTMENT GRADE FUND LLC AT COST 1,518,229 1,554,320
BASE10 PARTNERS III, LP AT COST 137,806 127,619
OBVIOUS VENTURES IV, L.P. AT COST 117,285 104,114
GAOCHENG FEEDER FUND II LP AT COST 142,116 32,721
BASE10 ADVANCEMENT INITIATIVE II LP AT COST 69,765 70,987
ACCOLADE PARTNERS IX AT COST 54,672 39,716
SILVER LAKE PARTNERS VI CAYMAN (AIV II), L.P. AT COST 63,219 63,219
SLP VI ACE FEEDER I, LP AT COST 26,158 26,158
SLP VI GOLDFINGER FEEDER I, LP AT COST 20,719 20,719

TY 2023 LegalFeesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 1,106 553   553


TY 2023 OtherDecreasesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Description Amount
CAPITAL DISTRIBUTIONS GREATER THAN K-1 75,597
ASIA ALTERNATIVES CAPITAL PARTNERS II, LP CAP CONTR LESS THAN K-1 208


TY 2023 OtherExpensesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MISCELLANEOUS FEES 446 446   0
COMMONWEALTH OF MASSACHUSETTS - FILING FEE 500 0   500
MEMBERSHIP DUES - PHILANTHROPY 7,770 0   7,770
PORTFOLIO DEDUCTIONS - FROM K-1 DAVIDSON KEMPNER (13-3597020) 34,355 34,355   0
PORTFOLIO DEDUCTIONS - FROM K-1 STEWART INVESTORS (20-6762882) 1,257 1,257   0
PORTFOLIO DEDUCTIONS - FROM K-1 HRJ GLOBAL BUY-OUT III US 7,033 7,033   0
PORTFOLIO DEDUCTIONS - FROM K-1 STRATEGIC INVESTORS (26-2776097) 5,440 5,440   0
PORTFOLIO DEDUCTIONS - FROM K-1 ASIA ALTERNATIVES CAP II (26-1738262) 965 965   0
PORTFOLIO DEDUCTIONS - FROM K-1 HRJ CAPITAL VC VI INTL 4,759 4,759   0
PORTFOLIO DEDUCTIONS - FROM K-1 CAPITAL DYNAMICS CHAMPION VENTURES VI, LP 11,383 11,383   0
PORTFOLIO DEDUCTIONS - FROM K-1 LL MORTGAGE LP 15,054 15,054   0
PORTFOLIO DEDUCTIONS - FROM K-1 POLUNIN DEVELOPING 15,937 15,937   0
PORTFOLIO DEDUCTIONS - FROM K-1 CLEAN GROWTH FUND IV, LP 6,635 6,635   0
PORTFOLIO DEDUCTIONS - FROM K-1 GQG PARTNERS GLOBAL EQUITY FD 15,394 15,394   0
PORTFOLIO DEDUCTIONS - FROM K-1 TUCKERBROOK SB GLOBAL 1,916 1,916   0
PORTFOLIO DEDUCTIONS - FROM K-1 ACCOLADE PARTNERS VII 32,528 32,528   0
PORTFOLIO DEDUCTIONS - FROM K-1 CLEAN GROWTH FUND V, LP 16,406 16,406   0
PORTFOLIO DEDUCTIONS - FROM K-1 SUSTAINABLE ASSET FUND II, LP 28,946 28,946   0
PORTFOLIO DEDUCTIONS - FROM K-1 WHITESPRUCE FUND LP 13,785 13,785   0
PORTFOLIO DEDUCTIONS - FROM K-1 TRIDENT VIII, L.P. 11,654 11,654   0
PORTFOLIO DEDUCTIONS - FROM K-1 WYNNCHURCH CAPITAL PARTNERS 17,325 17,325   0
PORTFOLIO DEDUCTIONS - FROM K-1 SILVER LAKE PARTNERS VI, LP 9,173 9,173   0
PORTFOLIO DEDUCTIONS - FROM K-1 ACCOLADE PARTNERS VIII, L.P. 20,715 20,715   0
PORTFOLIO DEDUCTIONS - FROM K-1 AACP INVESTORS, L.P. 615 615   0
PORTFOLIO DEDUCTIONS - FROM K-1 AVESI PARTNERS FUND I, LP. 7,131 7,131   0
PORTFOLIO DEDUCTIONS - FROM K-1 BANCRO 2006 VENTURE CAPITAL FUND LLC, L.P. 6,589 6,589   0
PORTFOLIO DEDUCTIONS - FROM K-1 BASE10 ADVANCEMENT INITIATIVE I LP 8,210 8,210   0
PORTFOLIO DEDUCTIONS - FROM K-1 CAPITAL DYNAMICS TRANSACTION PARTNERS 2021 L 34,750 34,750   0
PORTFOLIO DEDUCTIONS - FROM K-1 HRJ GLOBAL BUY-OUT III (EUROPE) LP 4,066 4,066   0
PORTFOLIO DEDUCTIONS - FROM K-1 OBVIOUS GROWTH I LP 9,538 9,538   0
PORTFOLIO DEDUCTIONS - FROM K-1 SUSTAINABLE ASSET FUND III (US FEEDER) LP 6,405 6,405   0
PORTFOLIO DEDUCTIONS - FROM K-1 TA XIV-B, LP 19,741 19,741   0
PORTFOLIO DEDUCTIONS - FROM K-1 OBVIOUS PRIME II, L.P. 5,447 5,447   0
PORTFOLIO DEDUCTIONS - FROM K-1 THE OVERLOOK PARTNERS FUND, L.P. 13,235 13,235   0
PORTFOLIO DEDUCTIONS - FROM K-1 OBVIOUS VENTURES IV, L.P. 10,344 10,344   0
PORTFOLIO DEDUCTIONS - FROM K-1 TA XIII-B, L.P. 15,276 15,276   0
PORTFOLIO DEDUCTIONS - FROM K-1 BASE10 PARTNERS III, L.P. 10,814 10,814   0
CHARITABLE CONTRIBUTIONS 12 12   0
PORTFOLIO DEDUCTIONS - FROM K-1 BASE10 ADVANCEMENT INITIATIVE II, L.P. 9,823 9,823   0
ACCRETION AND AMORTIZATION 197 197   0
PORTFOLIO DEDUCTIONS - FROM K-1 CLEAN ENERGY FUND, L.P. 20,229 20,229   0
OTHER TRADE OR BUSINESS EXPENSE - K-1 PALMER SQUARE 5,366 5,366   0
PORTFOLIO DEDUCTIONS - FROM K-1 ACCOLADE PARTNERS IX, L.P. 7,474 7,474   0
PORTFOLIO DEDUCTIONS - FROM K-1 SLP VI REGAL FEEDER I, LP 3 3   0
PORTFOLIO DEDUCTIONS - FROM K-1 GLOBAL RES OPTIM FUND, L.P. 26,273 26,273   0
ADR FEES 36 36   0
PORTFOLIO DEDUCTIONS - FROM K-1 SILVER LAKE PARTNERS VI CAYMAN (AIV II), LP 21 21   0
PORTFOLIO DEDUCTIONS - FROM K-1 SLP VI ACE FEEDER I, LP 4 4   0
PORTFOLIO DEDUCTIONS - FROM K-1 SLP VI GOLDFINGER FEEDER I, LP 9 9   0
PORTFOLIO DEDUCTIONS - FROM K-1 SILVER LAKE PARTNERS VII, LP 11,111 11,111   0
MANAGEMENT FEE - FROM YIHENG CAPITAL OFFSHORE PARTNERS, LTD. 18,473 18,473   0
RETURN OF UNSPENT FUNDS BOSTON UNIVERSITY -441 0   0


TY 2023 OtherIncomeSchedule2
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
GLOBAL RESOURCE OPTIMIZATION FUND, L.P. 394 394 394
GQC PARTNERS GLOBAL EQUITY FUND 329 329 329
POLUNIN DEVELOPING COUNTRIES FUND, LLC 1,176 1,176 1,176
CLEAN ENERGY FUND, L.P. -1,437 -1,437 -1,437
DAVIDSON KEMPNER INST PTNRS L.P. 137,162 137,162 137,162
SUSTAINABLE ASSET FUND II, LP -10,511 -10,511 -10,511
THE OVERLOOK PARTNERS FUND LP -352 -352 -352
TA XIII-B, L.P. 84 84 84
TA XIV-B, L.P. 1 1 1
CAP DYN TRANS PTNRS 2021 -7,065 -7,065 -7,065
ASIA ALTERN CAPITAL PTNRS II LP -864 -864 -864
AACP INVESTORS, L.P. 28 28 28
ACCOLADE PTNRS VIII LP -1,444 -1,444 -1,444
HRJ CAPITAL VC VI (INTERNATIONSL) LP -2,177 -2,177 -2,177
HRJ GLOBAL BUY-OUT III (EUROPE) LP -1 -1 -1
CAPITAL DYNAMICS CHAMPION VENTURES VI, LP 10 10 10
ACCOLADE PTNRS VII LP -3,559 -3,559 -3,559
BANCRO 2006 VENTURE CAPITAL FUND LLC 2,785 2,785 2,785
CLEAN GROWTH FUND IV LP -2,893 -2,893 -2,893
CLEAN GROWTH FUND V LP 6,033 6,033 6,033
STEWART INVESTORS GEMSL FUND (DST) 3,742 3,742 3,742
VARDE INVESTMENT PARTNERS (OFFSHORE), LTD. 127,868 127,868 127,868
STRATEGIC INVESTORS FUND IV, L.P. -7 -7 -7
TUCKERBROOK SB GLOBAL DISTRESSED FUND I, LP 3,788 3,788 3,788
IR&M CORE BOND FUND LLC 1,069 1,069 1,069
YIHENG CAPITAL OFFSHORE PARTNERS, LTD. -167,378 -167,378 -167,378
TRIDENT VIII, L.P. -1,240 -1,240 -1,240
ACCOLADE PTNRS IX, LP -62 -62 -62
SILVER LAKE PARTNERS VI CAYMAN (AIV II), LP 48 48 48
NITORUM OFFSHORE FUND, LTD. 23,063 23,063 23,063
K-1 CLEAN GROWTH FUND IV -2,742 0 -2,742
K-1 TA XIII-B, LP 14 0 14
K-1 GQG PARTNERS GLOBAL EQUITY FD -169 0 -169
K-1 TUCKERBROOK SB GLOBAL 1,138 0 1,138
K-1 ACCOLADE PARTNERS VII -6,737 0 -6,737
K-1 CLEAN GROWTH FUND V, LP 8,799 0 8,799
K-1 SUSTAINABLE ASSET FUND II, LP -11,371 0 -11,371
K-1 BANCRO 2006 VENTURE FIND LLC 87 0 87
K-1 CAPITAL DYNAMICS TRANSACTION PARTNERS 2021 LP -15,733 0 -15,733
K-1 ACCOLADE PARTNERS VIII LP -1,700 0 -1,700
K-1 ACCOLADE PARTNERS IX, LP -228 0 -228
K-1 BASE10 ADVANCEMENT INITIATIVE II LP -921 0 -921
K-1 TA XIV-B, L.P. 158 0 158
K-1 TRIDENT VIII, L.P. -276 0 -276


TY 2023 OtherIncreasesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Description Amount
TA XIV-B, LP CAP CONTR GREATER THAN K-1 170,000
TA XIV-B, LP CAP DISTR GREATER THAN K-1 30,000
TA XIII-B, LP CAP CONTR GREATER THAN K-1 45,000
TA XIII-B, LP CAP DISTR GREATER THAN K-1 25,000
SILVER LAKE PARTNERS CAP CONTR GREATER THAN K-1'S 269,467
SILVER LAKE PARTNERS CAP DISTR LESS THAN K-1'S 178
HRJ GLOBAL BUY-OUT III (US), LP CAP DISTR GREATER THAN K-1 32,816
ACCOLADE PARTNERS VII, L.P. CAP CONTR GREATER THAN K-1 60,000
ACCOLADE PARTNERS VIII, L.P. CAP CONTR GREATER THAN K-1 70,000
OBVIOUS VENTURES IV, LP CAP CONTR GREATER THAN K-1 20,000
WYNNCHURCH CAPITAL PARTNERS V, LP CAP CONTR GREATER THAN K-1 14,746
OBVIOUS GROWTH I, LP CAP CONTR GREATER THAN K-1 15,000
ASIA ALTERNATIVES CAPITAL PARTNERS II, LP CAP DISTR PER K-1 GREATER THAN BKS 188,845


TY 2023 OtherProfessionalFeesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 246,107 246,107   0


TY 2023 TaxesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES WITHHELD 48,276 48,276   0
FEDERAL EXCISE TAX 2022 EXTENSION 30,000 0   0