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
Aubert J Fay Charitable Fund
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 668
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LOWELL, MA01852
A Employer identification number

51-0203622
B Telephone number (see instructions)

(978) 487-1613
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$7,153,320J 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 5,693 5,693  
4 Dividends and interest from securities... 163,140 163,140  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
329,442
b Gross sales price for all assets on line 6a 943,804
7 Capital gain net income (from Part IV, line 2)... 329,442
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)..... 0  
11 Other income (attach schedule)....... 0    
12 Total. Add lines 1 through 11........ 498,275 498,275  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 18,189 9,095   9,094
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... 0      
b Accounting fees (attach schedule)....... 17,500 17,500    
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
3,731 3,731    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
6,776 6,776    
19 Depreciation (attach schedule) and depletion... 0    
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
1,780     1,780
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 47,976 37,102   10,874
25 Contributions, gifts, grants paid....... 363,000 363,000
26 Total expenses and disbursements. Add lines 24 and 25 410,976 37,102   373,874
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 87,299
b Net investment income (if negative, enter -0-) 461,173
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.............      
2 Savings and temporary cash investments......... 71,316 98,144 98,144
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).....   0  
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow     0  
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)....... 3,345,245 Click to see attachment
List of Attached Documents:
// Content
3,397,781 		7,055,176
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow     0  
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   0  
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow     0  
15 Other assets (describe right arrow) 0 0 0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,416,561 3,495,925 7,153,320
Liabilities 17 Accounts payable and accrued expenses.......... 18,608 2,412
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons   0
21 Mortgages and other notes payable (attach schedule)......   0
22 Other liabilities (describe right arrow) 0 0
23 Total liabilities (add lines 17 through 22)......... 18,608 2,412
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........ 3,397,953 3,493,513
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)..... 3,397,953 3,493,513
30 Total liabilities and net assets/fund balances (see instructions). 3,416,561 3,495,925
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
3,397,953
2
Enter amount from Part I, line 27a .....................
2
87,299
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
8,261
4
Add lines 1, 2, and 3 ..........................
4
3,493,513
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
3,493,513
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 1000 sh Altria Group P 2013-01-31 2023-02-06
b 465 sh J&J P 2002-06-22 2023-02-06
c 300 sh Pepsico P 2003-12-18 2023-02-06
d 485 sh Starbucks P 2003-12-18 2023-02-06
e 680 sh Exxon P 2000-12-15 2023-02-06
.667 sh GE Healthcare P 2020-12-12 2023-01-04
150 sh American Express P 2015-07-17 2023-12-01
550 sh Boeing P 2022-01-12 2023-12-01
1500 sh Canadian Pacific P 2014-06-10 2023-12-01
1025 sh Citigroup P 2021-04-27 2023-01-11
1000 sh Gilead P 2021-06-10 2023-12-01
565 sh Nike P 2021-04-27 2023-12-01
325 sh Stanley B&D P 2018-09-19 2023-01-11
300 sh American Express P 2010-01-13 2023-12-01
41 UnitedHealth P 2006-10-24 2023-12-01
126 Activision Blizzard P 2021-08-31 2023-07-11
150 sh Sarepta P 2021-10-15 2023-05-15
150 sh Zoom P 2022-05-24 2023-12-12
19 sh Ishares Exp Tech P 2016-06-16 2023-12-12
31 sh Ishares Semi P 2016-06-16 2023-12-12
12 sh Ishares US Healthcare P 2021-02-03 2023-12-12
522 sh Ishares US Energy P 2021-02-03 2023-01-19
(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 46,361 0 34,201 12,160
b 75,546 0 26,094 49,452
c 50,622 0 14,287 36,335
d 49,718 0 3,950 45,768
e 75,449 0 7,941 67,508
39 0 0 39
25,417 0 11,969 13,448
126,706 0 120,434 6,272
109,510 0 52,395 57,115
48,963 0 75,705 -26,742
75,261 0 70,026 5,235
61,851 0 75,516 -13,665
27,183 0 49,957 -22,774
50,834 0 12,789 38,045
22,349 0 2,085 20,264
11,592 0 10,362 1,230
23,195 0 12,755 10,440
10,720 0 14,325 -3,605
8,216 0 2,087 6,129
16,162 0 2,883 13,279
3,346 0 3,029 317
24,764 0 11,572 13,192
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a 0 0 0 12,160
b 0 0 0 49,452
c 0 0 0 36,335
d 0 0 0 45,768
e 0 0 0 67,508
0 0 0 39
0 0 0 13,448
0 0 0 6,272
0 0 0 57,115
0 0 0 -26,742
0 0 0 5,235
0 0 0 -13,665
0 0 0 -22,774
0 0 0 38,045
0 0 0 20,264
0 0 0 1,230
0 0 0 10,440
0 0 0 -3,605
0 0 0 6,129
0 0 0 13,279
0 0 0 317
0 0 0 13,192
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 2 329,442
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 6,410
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 6,410
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 6,410
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 4,100
b Exempt foreign organizations—tax withheld at source...... 6b  
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.............. Part VI Line 7 - Tax Paid with the Original Return: 4100 7 4,100
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
8 102
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 2,412
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow0 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 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 arrowJohn F Gervais Telephone no.right arrow (978) 772-6600

Located atright arrowPO BOX 668LOWELLMA ZIP+4right arrow01852
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)
 
No
(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
 
 
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
 
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
 
 
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
JOHN F GERVAIS TRUSTEE
4.00 		6,463 0 0
102 PAQUAWKET PATH
GROTON,MA01450
STEPHEN L GERVAIS JR TRUSTEE
3.00 		5,863 0 0
69 FLORENCE ROAD
LOWELL,MA01851
DEXTER STEVENS TRUSTEE
3.00 		5,863 0 0
524 PEPPERELL ROAD
GROTON,MA01450
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 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
6,870,524
b
Average of monthly cash balances.......................
1b
84,730
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
6,955,254
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
 
3
Subtract line 2 from line 1d.........................
3
6,955,254
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
104,329
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
6,850,925
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
342,546
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
342,546
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
6,410
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
6,410
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
336,136
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
336,136
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
336,136
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
373,874
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
 
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
373,874
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 7 336,136
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 310,526
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 0
b From 2019...... 0
c From 2020...... 0
d From 2021...... 0
e From 2022...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 373,874
a Applied to 2022, but not more than line 2a 310,526
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 63,348
e Remaining amount distributed out of corpus 0
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 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...... 		 
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 .......... 		272,788
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) ... 		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.... 0
b Excess from 2020.... 0
c Excess from 2021.... 0
d Excess from 2022.... 0
e Excess from 2023.... 0
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).)
None
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
None
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Aubert J Fay Charitable Fund
PO BOX 668
LOWELL,MA01853
(978) 772-4465
bThe form in which applications should be submitted and information and materials they should include:
APPLICATIONS SHOULD BE SUBMITTED BY LETTER WITH EXPLANATION OF REQUEST
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
CHARITABLE, RELIGIOUS OR EDUCATIONAL PURPOSES IN LOWELL, MA
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

Acre Family Child Care

55 Middle Street
LOWELL,MA01852 		  PC CHILD CARE SERVICES 7,000

Alternative House

PO Box 2100
LOWELL,MA01851 		  PC SOCIAL SERVICES AND WELFAR 3,500

Boys and Girls Club of Greater Lowell

657 Middlesex Street
LOWELL,MA01851 		  PC PROMOTE CHARACTERAND CITIZENSHIP 7,000

BRIDGE CLUB OF GREATER LOWELL

33 East Merrimack St
LOWELL,MA01852 		  PC SAFE PLACE FOR THOSE IN RECOVERY 7,000

Brush art Gallery and Studios

256 Market Street
LOWELL,MA01852 		  PC PROMOTE ARTISTICACTIVITIES 3,000

Catie's Closet

19 School St
DRACUT,MA01826 		  PC CLOTHING ANDTOILETRIES TONEEDY CHILDREN 8,000

Center for Hope & Healing

21 George St Suite 400
LOWELL,MA01852 		  PC REDUCE SEXUALVIOLENCE 0

Circle Home

847 Rogers St Suite 201
LOWELL,MA01853 		  PC HOME HEALTH CAREAND HOSPICE CARE 0

Community Family Inc

236 Broadway St
LOWELL,MA01854 		  PC PROVIDE HIGHQUALITY ADULTDAY HEALTH CARE 0

Cultural Organization of Lowell

250 Jackson St 402
LOWELL,MA01852 		  PC CULTURAL EVENTS 0

D'Youville Senior Care

981 Varnum Ave
LOWELL,MA01854 		  PC MEDICAL CAREAND MEDICAL FACILITY 20,000

First United Baptist Church

99 Church Street
LOWELL,MA01852 		  PC RELIGIOUSACTIVITIES 9,000

Girl Scouts of Eastern Massachusetts

143 Abbot Street
ANDOVER,MA01810 		  PC BUILD LEADERSHIP 4,000

Girls Inc

220 Worthen Street
LOWELL,MA01852 		  PC YOUTH ACTIVITIES 9,000

Greater Lowell Community Foundation

100 Merrimack St
LOWELL,MA01852 		  PC BUILD COMMUNITYRESOURCES 8,000

Greater Lowell Habitat for Humanity

68 Tadmuck Rd Unit 1
WESTFORD,MA01886 		  PC AFFORDABLE HOUSING 4,000

Greater Lowell YMCA

35 YMCA Drive
LOWELL,MA01852 		  PC YOUTH ACTIVITIES 6,000

Hellenic American Academy

41 Broadway St
LOWELL,MA01854 		  PC YOUTH EDUCATION 3,000

House of Hope

812 Merrimack Street
LOWELL,MA01854 		  PC TEMPORARY HOUSING 6,000

Immaculate Conception

3 Fayette Street
LOWELL,MA01852 		  PC RELIGIOUS ACTIVITIES 20,000

Inner-City Scholastic Fund

67 Batterymarch St
BOSTON,MA02110 		  PC YOUTHSCHOLARSHIPS 0

International Institute

17 Warren Street
LOWELL,MA01852 		  PC CITIZENSHIPSERVICE FOR IMMIGRANTS & REFUGEES 6,000

Lowell Association for the Blind

169 Merrimack Street
LOWELL,MA01852 		  PC SIGHT RELATEDASSISTANCE 7,000

Lowell Catholic High School

530 Stevens Street
LOWELL,MA01851 		  PC YOUTHEDUCATION 12,000

Lowell Cemetery

77 Knapp Avenue
LOWELL,MA01852 		  PC BURIAL SITEMAINTENANCE 1,500

Lowell Community Charter School

206 Jackson St Mill 5
LOWELL,MA01852 		  PC PUBLIC CHARTERSCHOOL 4,000

Lowell Community Health Center

161 Jackson Street
LOWELL,MA01852 		  PC MEDICAL CARE 25,000

Lowell Day Nursery

119 Hall Street
LOWELL,MA01854 		  PC CHILD CARE 4,000

Lowell Festival Foundation

PO Box 217
LOWELL,MA01853 		  PC COMMUNITYCULTURALEVENTS 5,000

Lowell General Hospital

295 Varnum Ave
LOWELL,MA01854 		  PC MEDICALCARE 50,000

Lowell House Inc

101 Jackson Street
LOWELL,MA01852 		  PC COUNSELING SERVICES 7,000

Lowell Parks & Conservation Trust

PO Box 7162
LOWELL,MA01852 		  PC CREATION,CONSERVATION &PRESERVATION OF PARKS 6,000

Lowell Transitional Living Center

193 Middlesex Street
LOWELL,MA01852 		  PC HOMELESSSHELTER 6,000

Merrimack Reperatory Theatre

132 Warren Street
LOWELL,MA01852 		  PC COMMUNITYTHEATRE 20,000

Merrimack Valley Catholic Charities

70 Lawrence Street
LOWELL,MA01852 		  PC PREVENT HUNGER& HOPELESSNESS 0

Merrimack Valley Food Bank

735 Broadway Street
LOWELL,MA01854 		  PC COMMUNITY FOODDISTRIBUTION 7,000

Merrimack Valley Housing Partnership

PO Box 1042
LOWELL,MA01853 		  PC PROMOTE RESPONSIBLE& SUSTAINABLE HOMEOWNERSHIP 4,000

Middlesex Community College

33 Kearney Square
LOWELL,MA01852 		  PC COMMUNITYEDUCATION 6,000

Mission of Deeds

6 Chapin Avenue
Reading,MA01867 		  PC PROVIDES HOUSEHOLDITEMS TO NEEDYINDIVIDUALS 4,000

Monastery of St Clare

PO Box 333
LOWELL,MA01853 		  PC RELIGIOUS ACTIVITIES 0

New England Dairy & Food Council

1034 Commonwealth Ave
BOSTON,MA02215 		  PC PROVIDE NUTRITIONEDUCATION 0

New England Quilt Museum

18 Shattuck Street
LOWELL,MA01852 		  PC PROMOTE ARTISTICEVENTS 2,000

Oblates of Mary Immaculate Infirmary

486 Chandler Street
TEWKSBURY,MA01876 		  PC MEDICAL CARE 3,000

Project Citizenship

4 Faneuil South Market Building
BOSTON,MA02109 		  PC SUPPORTING THE EXPLORATIN OF CITIZENSHIP & DISABILITY 3,000

Project Learn

8 Kirk St 2nd Floor
LOWELL,MA01852 		  PC EDUCATIONENRICHMENT 10,000

Raising A Reader

9B Hamilton Place
BOSTON,MA02108 		  PC PROMOTECHILDHOODLITERACY 0

REACH OUT AND READ

89 South St
BOSTON,MA02111 		  PC PROMOTECHILDHOODLITERACY 4,000

Salvation Army of Lowell

150 Appleton Street
LOWELL,MA01853 		  PC PROMOTECOMMUNITY ASSISTANCE 6,000

Sankofa Support Services

463 Merrimack Street
LOWELL,MA01854 		  PC PROMOTE ALLEVIATINGTHE CASUSES OFFAMILY POVERTY 0

St Anne's Episcopal Church

8 Kirk Street
LOWELL,MA01852 		  PC RELIGIOUSACTIVITIES 6,000

St Jeanne D'Arc School

68 Dracut Street
LOWELL,MA01854 		  PC YOUTH EDUCATION 0

St Joseph the Worker Shrine

37 Lee Street
LOWELL,MA01853 		  PC RELIGIOUS EDUCATION 3,000

St Louis Elementary School

74 Boisvert Street
LOWELL,MA01850 		  PC YOUTH EDUCATION 0

St Michael's School

21 Sixth Street
LOWELL,MA01850 		  PC YOUTH EDUCATION 4,000

St Patrick School

311 Adams Street
LOWELL,MA01854 		  PC YOUTH EDUCATION 4,000

St Vincent de Paul Society

3 Fayette Street
LOWELL,MA01852 		  PC ASSITANCE FOR THE NEEDY 8,000

Triangle

420 Pearl Street
MALDEN,MA02148 		  PC OFFERS PROGRAMSTO HELP PEOPLEDISABILITIES 0

United Teen Equality Center

15 Warren Street 3
LOWELL,MA01852 		  PC PROMOTE SOCIALAND ECOMONICSUCCESS 7,000

Wayside Youth & Family Support Network

73 E Merrimack St
LOWELL,MA01852 		  PC PROVIDING FAMILY SUPPORT FOR BEHAVIORAL HEATH NEEDS 4,000

Whistler House

243 Worthen Street
LOWELL,MA01852 		  PC PROMOTE ARTISTICACTIVITIES 0

Youth Harbors

160 Gould St
NEEDHAM,MA02494 		  PC PROVIDEYOUTH SERVICES 0
Total .................................right arrow 3a 363,000
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 ........... 		    14 5,693  
4 Dividends and interest from securities ....     14 163,140  
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 ............ 		        329,442
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) ..   168,833 329,442
13Total. Add line 12, columns (b), (d), and (e)..................
13
498,275
(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.)
8 Investment income to provide additional gifts/grants/contributions to community
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:  
Part VI Line 7 - Tax Paid with the Original Return: 4,100


Form 990PF - Special Condition Description:
Special Condition Description

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2023 GainLossSaleOtherAssetsSch
Name:
Aubert J Fay Charitable Fund
EIN:
51-0203622
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
1000 sh Altria 2013-01 Purchased 2023-02   46,361 34,201 FMV   12,160  
465 sh J&J 2002-08 Purchased 2023-02   75,546 26,094 FMV   49,452  
300 sh Pepsico 2003-12 Purchased 2023-02   50,622 14,287 FMV   36,335  
485 sh Starbucks 2003-12 Purchased 2023-02   49,718 3,950 FMV   45,768  
680 sh Exxon 2000-12 Purchased 2023-02   75,449 7,941 FMV   67,508  
.667 sh GE Healthcare 2000-12 Purchased 2023-01   39 0 FMV   39  
150 sh Am Ex 2015-07 Purchased 2023-12   25,417 11,969 FMV   13,448  
550 sh Boeing 2022-01 Purchased 2023-12   126,706 120,434 FMV   6,272  
1500 sh Canadian Pacific 2014-06 Purchased 2023-12   109,510 52,395 FMV   57,115  
1025 sh Citigroup 2021-04 Purchased 2023-01   48,963 75,705 FMV   -26,742  
1000 sh Gilead 2021-06 Purchased 2023-12   75,261 70,026 FMV   5,235  
565 sh Nike 2021-04 Purchased 2023-12   61,851 75,516 FMV   -13,665  
325 sh Stanley B&D 2018-09 Purchased 2023-01   27,183     49,957 -22,774  
300 sh AmEx 2010-01 Purchased 2023-12   50,834 12,789 FMV   38,045  
41 UnitedHealth 2006-10 Purchased 2023-12   22,349   FMV 2,085 20,264  
126 sh Activision 2021-08 Purchased 2023-07   11,592   FMV 10,362 1,230  
150 sh Sarepta 2021-10 Purchased 2023-05   23,195 12,755 FMV   10,440  
150 sh Zoom 2022-05 Purchased 2023-12   10,720 14,325     -3,605  
19 sh Ishared Exp Tech 2016-06 Purchased 2023-12   8,216 2,087 FMV   6,129  
31 sh Ishares Semi 2016-06 Purchased 2023-12   16,162 2,883 FMV   13,279  
12 sh Ishares US Healthcare 2021-02 Purchased 2023-12   3,346 3,029 FMV   317  
522 sh Ishares US Energy 2021-02 Purchased 2023-01   24,764 11,572 FMV   13,192  

TY 2023 InvestmentsCorpStockSchedule
Name:
Aubert J Fay Charitable Fund
EIN:
51-0203622
Name of Stock End of Year Book Value End of Year Fair Market Value
MORGAN STANLEY 2,150,216 3,597,982
WELLS FARGO 1,247,565 3,457,194

TY 2023 OtherExpensesSchedule
Name:
Aubert J Fay Charitable Fund
EIN:
51-0203622
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK FEES 0     0
POSTAGE 430     430
REGISTRATIONS 1,350     1,350


TY 2023 OtherIncreasesSchedule
Name:
Aubert J Fay Charitable Fund
EIN:
51-0203622
Description Amount
Change in Unrealized Gain/(Loss) 8,261


TY 2023 OtherProfessionalFeesSchedule
Name:
Aubert J Fay Charitable Fund
EIN:
51-0203622
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
WELLS FARGO MANAGEMENT FEES 30      
MORGAN STANLEY MANAGEMENT FEES 3,701      


TY 2023 TaxesSchedule
Name:
Aubert J Fay Charitable Fund
EIN:
51-0203622
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAX 264 264    
FED INVESTMENT TAX 6,512 6,512