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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
HTC COTTEE CHARLES & BARBARA CLOSE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)THREE RADNOR CORP CENTER SUITE 450
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
RADNOR, PA190874546
A Employer identification number

27-3017122
B Telephone number (see instructions)

(610) 995-8700
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$8,129,507J 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 150 150  
4 Dividends and interest from securities... 183,341 183,341  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 559,145
b Gross sales price for all assets on line 6a 1,725,272
7 Capital gain net income (from Part IV, line 2)... 559,145
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 742,636 742,636  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 120,781 16,104   104,677
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
11,054 2,641   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 131,835 18,745 0 104,677
25 Contributions, gifts, grants paid....... 540,000 540,000
26 Total expenses and disbursements. Add lines 24 and 25 671,835 18,745 0 644,677
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 70,801
b Net investment income (if negative, enter -0-) 723,891
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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......... 81,825 265,723 265,723
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow     0 0
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 arrow0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 239,972 Click to see attachment
List of Attached Documents:
// Content
198,422 		192,183
b Investments—corporate stock (attach schedule)....... 3,522,708 Click to see attachment
List of Attached Documents:
// Content
3,439,702 		7,028,865
c Investments—corporate bonds (attach schedule)....... 444,593 Click to see attachment
List of Attached Documents:
// Content
470,704 		462,623
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).......... 194,545 Click to see attachment
List of Attached Documents:
// Content
179,368 		180,113
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) 4,483,643 4,553,919 8,129,507
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
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........ 4,483,643 4,553,919
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)..... 4,483,643 4,553,919
30 Total liabilities and net assets/fund balances (see instructions). 4,483,643 4,553,919
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
4,483,643
2
Enter amount from Part I, line 27a .....................
2
70,801
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
4,554,444
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
525
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
4,553,919
Form 990-PF (2024)
Form 990-PF (2024)
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 65000. FFCB 5.04% 2/23/2024   2022-11-18 2024-02-23
b 445. JOHNSON & JOHNSON   2011-01-07 2024-02-27
c 500. CVS CORP   2011-08-02 2024-03-22
d 1270. CISCO SYSTEMS INCORPORATED   2017-06-29 2024-03-22
e 20. MCDONALD'S CORP   2019-11-08 2024-03-22
205. SKYWORKS SOLUTIONS INC (SWKS)   2020-09-22 2024-04-16
430. SKYWORKS SOLUTIONS INC (SWKS)   2021-12-13 2024-04-16
50. SKYWORKS SOLUTIONS INC (SWKS)   2021-01-08 2024-04-16
414. ZOETIS INC (ZTS)   2023-02-15 2024-04-16
820. ISHARES BARCLAYS MBS BD (MBB)   2021-03-30 2024-04-17
85. CVS CORP   2011-08-02 2024-04-25
70. PEPSICO INCORPORATED   2009-12-09 2024-04-25
95. RTX CORP (RTX)   2020-11-13 2024-04-25
55. UNITEDHEALTH GROUP INC COM   2013-02-13 2024-04-25
925. CVS CORP   2011-08-02 2024-05-07
20. SKYWORKS SOLUTIONS INC (SWKS)   2023-03-27 2024-05-07
705. SKYWORKS SOLUTIONS INC (SWKS)   2020-09-22 2024-05-07
1173. STARBUCKS CORP   2017-05-15 2024-05-07
430. MEDTRONIC PLC ADR (MDT)   2023-01-12 2024-05-10
50. AIR PRODS & CHEMS INC   2016-04-27 2024-05-22
131. AUTOMATIC DATA PROCESSING INCOM (ADP)   2011-10-12 2024-05-22
51. BLACKROCK INC (BLK)   2011-08-09 2024-05-22
24. COSTCO WHOLESALE CORP   2020-05-21 2024-05-22
62. HONEYWELL INTERNATIONAL INC   2022-04-18 2024-05-22
70. ILLINOIS TOOL WORKS INCORPORATED   2022-03-08 2024-05-22
89. INTUIT COM (INTU)   2022-09-07 2024-05-22
35. J P MORGAN CHASE & CO COM   2010-12-21 2024-05-22
7. J P MORGAN CHASE & CO COM   2022-04-18 2024-05-22
122. JOHNSON & JOHNSON   2011-01-07 2024-05-22
23. LOWES COMPANIES INCORPORATED   2018-04-02 2024-05-22
20. MERCK & CO. INC. (MRK)   2021-01-08 2024-05-22
88. MICROSOFT CORPORATION   2011-03-28 2024-05-22
43. RTX CORP (RTX)   2020-11-13 2024-05-22
74. S&P GLOBAL INC (SPGI)   2019-01-30 2024-05-22
246. TJX COS INC NEW   2013-04-09 2024-05-22
15. THERMO ELECTRON CORP   2021-07-07 2024-05-22
25. THERMO ELECTRON CORP   2022-03-02 2024-05-22
16. UNITED PARCEL SERVICE CL B   2022-12-02 2024-05-22
247. VERIZON COMMUNICATIONS COM   2022-11-14 2024-05-22
13. AON PLC CLASS A (AON)   2023-03-27 2024-05-22
124. MEDTRONIC PLC ADR (MDT)   2023-01-12 2024-05-22
27. TE CONNECTIVITY LTD (TEL)   2023-12-04 2024-05-22
150. CISCO SYSTEMS INCORPORATED   2017-06-29 2024-06-04
45. INTUIT COM (INTU)   2022-09-07 2024-06-04
290. ORACLE SYS CORP   2014-01-08 2024-06-04
92. LOWES COMPANIES INCORPORATED   2018-04-02 2024-06-14
26. AON PLC CLASS A (AON)   2023-03-27 2024-06-14
27. BLACKROCK INC (BLK)   2011-08-09 2024-07-17
145. J P MORGAN CHASE & CO COM   2010-12-21 2024-07-17
49. S&P GLOBAL INC (SPGI)   2019-01-30 2024-07-17
50. UNITEDHEALTH GROUP INC COM   2013-02-13 2024-07-17
35000. ALLSTATE CORP 0.75% 12/15/2025   2022-12-02 2024-07-26
67. ORACLE SYS CORP   2014-01-08 2024-08-05
454. MEDTRONIC PLC ADR (MDT)   2023-01-12 2024-08-05
311. RTX CORP (RTX)   2020-11-13 2024-09-06
500. MERCK & CO. INC. (MRK)   2011-10-12 2024-09-13
104. MERCK & CO. INC. (MRK)   2021-01-08 2024-09-13
105. ACCENTURE PLC ADR (ACN)   2009-12-22 2024-09-25
95. HONEYWELL INTERNATIONAL INC   2022-04-18 2024-09-26
72. LOWES COMPANIES INCORPORATED   2018-04-02 2024-09-26
325. ORACLE SYS CORP   2014-01-08 2024-09-26
360. VERIZON COMMUNICATIONS COM   2022-11-14 2024-09-26
45. AON PLC CLASS A (AON)   2023-03-27 2024-09-26
549. MCCORMICK & CO -NON VTG SHRS (MKC)   2021-05-19 2024-11-29
5. COSTCO WHOLESALE CORP   2020-05-21 2024-12-12
(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 65,000   65,000  
b 71,401   27,931 43,470
c 39,427   18,364 21,063
d 63,281   39,941 23,340
e 5,657   3,876 1,781
20,323   28,410 -8,087
42,628   68,781 -26,153
4,957   8,141 -3,184
63,436   71,245 -7,809
73,523   88,879 -15,356
5,716   3,122 2,594
12,418   4,327 8,091
9,648   6,245 3,403
27,201   3,147 24,054
51,901   33,974 17,927
1,850   2,287 -437
65,204   97,702 -32,498
84,796   70,849 13,947
35,597   34,296 1,301
13,151   6,821 6,330
33,209   5,872 27,337
40,900   7,665 33,235
19,312   7,255 12,057
12,620   11,951 669
17,422   14,497 2,925
59,809   37,689 22,120
6,970   1,429 5,541
1,394   904 490
18,724   7,657 11,067
5,130   1,932 3,198
2,620   1,583 1,037
37,908   2,253 35,655
4,564   2,827 1,737
32,626   13,836 18,790
25,508   5,794 19,714
8,907   7,823 1,084
14,845   13,957 888
2,301   3,034 -733
9,863   9,487 376
3,720   4,048 -328
10,587   9,890 697
4,118   3,544 574
7,009   4,717 2,292
25,645   19,056 6,589
34,500   10,953 23,547
20,463   7,726 12,737
7,674   8,097 -423
22,656   4,058 18,598
31,389   5,920 25,469
23,900   9,162 14,738
28,496   2,861 25,635
33,012   32,963 49
8,574   2,530 6,044
36,591   36,210 381
36,828   20,445 16,383
58,041   15,488 42,553
12,073   8,231 3,842
35,484   4,284 31,200
19,689   18,312 1,377
19,079   6,047 13,032
54,403   12,274 42,129
16,124   13,827 2,297
15,631   14,014 1,617
42,894   49,127 -6,233
4,945   1,511 3,434
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        
b       43,470
c       21,063
d       23,340
e       1,781
      -8,087
      -26,153
      -3,184
      -7,809
      -15,356
      2,594
      8,091
      3,403
      24,054
      17,927
      -437
      -32,498
      13,947
      1,301
      6,330
      27,337
      33,235
      12,057
      669
      2,925
      22,120
      5,541
      490
      11,067
      3,198
      1,037
      35,655
      1,737
      18,790
      19,714
      1,084
      888
      -733
      376
      -328
      697
      574
      2,292
      6,589
      23,547
      12,737
      -423
      18,598
      25,469
      14,738
      25,635
      49
      6,044
      381
      16,383
      42,553
      3,842
      31,200
      1,377
      13,032
      42,129
      2,297
      1,617
      -6,233
      3,434
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 2 559,145
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 10,062
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 10,062
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 10,062
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 9,580
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 9,580
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 9 482
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 2025 estimated taxright arrow0 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
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 arrowPA
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 2024 or the taxable year beginning in 2024? 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 arrow  
14
The books are in care ofright arrowHAVERFORD TRUST COMPANY Telephone no.right arrow (610) 995-8700

Located atright arrowTHREE RADNOR CORPORATE CENTER SUITRADNORPA ZIP+4right arrow19087
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 2024, 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 (2024)
Form 990-PF (2024)
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
FREDERICK PADDEN TRUSTEE
2 		20,130    
THREE RADNOR CORPORATE CTR STE 450
RADNOR,PA19087
WILLIAM MCKERNAN TRUSTEE
2 		20,130    
THREE RADNOR CORPORATE CTR STE 450
RADNOR,PA19087
MIKE DOYLE TRUSTEE
2 		20,130    
THREE RADNOR CORPORATE CTR STE 450
RADNOR,PA19087
JIM BERNESKI TRUSTEE
2 		20,130    
THREE RADNOR CORPORATE CTR STE 450
RADNOR,PA19087
HAVERFORD TRUST COMPANY TRUSTEE
5 		40,261    
THREE RADNOR CORPORATE CTR STE 450
RADNOR,PA19087
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 (2024)
Form 990-PF (2024)
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 (2024)
Form 990-PF (2024)
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
7,927,872
b
Average of monthly cash balances.......................
1b
182,326
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
8,110,198
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
8,110,198
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
121,653
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
7,988,545
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
399,427
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
399,427
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
10,062
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
10,062
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
389,365
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
389,365
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
389,365
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
644,677
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
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
644,677
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 389,365
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 25,876
b From 2020...... 204,736
c From 2021...... 271,792
d From 2022...... 779,447
e From 2023...... 537,679
f Total of lines 3a through e ........ 1,819,530
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 644,677
a Applied to 2023, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 389,365
e Remaining amount distributed out of corpus 255,312
5 Excess distributions carryover applied to 2024. 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 2,074,842
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		25,876
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		2,048,966
10 Analysis of line 9:
a Excess from 2020.... 204,736
b Excess from 2021.... 271,792
c Excess from 2022.... 779,447
d Excess from 2023.... 537,679
e Excess from 2024.... 255,312
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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 if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
Form 990-PF (2024)
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

DREXEL UNIVERSITY - DAVID O'BRIEN
LEADERSHIP AWARD
3141 CHESTNUT STREET
PHILADELPHIA,PA19104 		N/A PC ENTREPRENEURSHIP IN 160,045

FRIENDS OF SAINT MALACHY

1429 NORTH 11TH STREET
PHILADELPHIA,PA19122 		N/A PC UNRESTRICTED 10,000

DREXEL UNIVERSITY

3141 CHESTNUT STREET SUITE 310
PHILADELPHIA,PA19104 		NONE PC CLOSE FOUNDATION DESIGNATED 369,955
Total .................................right arrow 3a 540,000
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2024)
Form 990-PF (2024)
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 ........... 		    14 150  
4 Dividends and interest from securities ....     14 183,341  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 559,145  
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) ..   742,636  
13Total. Add line 12, columns (b), (d), and (e)..................
13
742,636
(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 (2024)
Form 990-PF (2024)
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 InvestmentsCorpBondsSchedule
Name:
HTC COTTEE CHARLES & BARBARA CLOSE FOUNDATION
EIN:
27-3017122
Name of Bond End of Year Book Value End of Year Fair Market Value
ATT INC 2.75% 6/1/2031 44,755 39,077
ALLSTATE CORP 0.75% 12/15/2025    
APPLE INC 2.40% 5/3/23    
BANK OF AMERICA CORP 4.125% 1/ 35,072 35,928
ESSENTIAL UTILIITES INC 2.704% 45,316 40,055
GOLDMAN SACHS GROUP 3.75% 5/22 60,342 59,789
JPMORGAN CHASE 3.625% 12/1/202 33,682 34,015
CITIGROUP INC 3.20% 10/21/26    
DUKE ENERGY CORP 4.30% 3/15/20 33,853 34,421
TEXAS INSTRUMENTS INC 4.90% 3/ 29,814 29,773
VERIZON COMMUNICATIONS INC VZ 33,579 34,335
AMGEN INC 5.15% 3/2/2028    
BANK OF AMERICA CORP 5.819% 9/    
BLACKROCK INC 4.75% 5/25/2033    
AMGEN INC 5.15% 6/12/2031 29,796 30,208
BLACKROCK INC 4.75% 5/25/2033 33,889 34,271
CITIGROUP INC 3.2% 10/21/26 33,389 34,053
EXELON CORP 5.45% 3/15/2034 24,968 24,946
MASCO CORPORATION MAS 6.5% 8/1 32,249 31,752

TY 2024 InvestmentsCorpStockSchedule
Name:
HTC COTTEE CHARLES & BARBARA CLOSE FOUNDATION
EIN:
27-3017122
Name of Stock End of Year Book Value End of Year Fair Market Value
AIR PRODS & CEMS INC COM 60,028 127,618
AMERICAN TOWER CORP 70,235 87,853
APPLE INC COM 23,407 375,630
AUTOMATIC DATA PROCESSING INCO 23,982 156,611
BAXTER INTL INC COM    
BECTON DICKINSON & CO COM    
BLACKROCK INC 38,774 264,478
CVS HEALTH CORP    
CHEVRON CORP 68,548 129,197
CISCO SYS INC COM 74,099 129,056
COSTCO WHSL CORP NEW COM 84,942 257,472
DOLLAR GENERAL CORP    
DUPONT DE NEMOURS INC    
HONEYWELL INTL INC COM 144,650 228,601
ILLINOIS TOOL WORKS INC 108,524 132,865
INTUIT COM 61,827 91,761
JPMORGAN CHASE & CO COM 48,950 287,412
JOHNSON & JOHNSON COM 44,826 107,597
LOWES COS INC COM 67,102 197,193
MASTERCARD INC CL A 40,275 301,198
MCCORMICK & CO 100,446 87,295
MCDONALDS CORP COM 98,842 147,844
MERCK & CO INC 31,471 101,072
MICROSOFT CORP COM 21,018 346,052
ORACLE CORP COM 55,745 245,961
PEPSICO INC COM 55,749 138,375
RAYTHEON TECHNOLOGIES CORP    
S&P GLOBAL INC 62,638 166,840
SKYWORKS SOLUTIONS INC 53,885 57,608
STARBUCKS CORP    
TJX COS INC NEW COM 44,654 229,056
THERMO FISHER SCIENTIFIC INC 156,462 156,069
UNITED PARCEL SERVICE INC CL B 89,782 130,135
UNITEDHEALTH GROUP INC COM 18,655 164,910
VERIZON COMMUNCATIONS INC COM 135,667 141,845
ACCENTURE PLC ADR 20,807 179,413
AON PLC CL A 115,277 156,594
MEDTRONIC PLC ADR 90,671 96,335
ASML HOLDING NV-NY-REG SHS (AS 127,823 114,358
MASCO CORP (MAS) 90,787 131,715
NVENT ELECTRIC PLC 84,931 123,710
RTX CORP (RTX) 95,675 237,342
ZOETIS INC (ZTS) 57,419 56,374
TE CONNECTIVITY LTD (TEL) 91,350 105,512
ALPHABET INC 186,676 210,312
GENTEX CORP COM 72,830 57,460
LILLY ELI & CO COM 57,435 55,584
NEXTERA ENERGY INC 125,659 140,226
QUALCOMM INC COM 107,565 95,244
SALESFORCE. COM INC 70,125 91,941
VISA INC CLASS A SHARES 57,481 64,788
NIVIDIA CORP COM 102,008 124,353

TY 2024 InvestmentsGovtObligationsSch
Name:
HTC COTTEE CHARLES & BARBARA CLOSE FOUNDATION
EIN:
27-3017122
US Government Securities - End of Year Book Value:

198,422
US Government Securities - End of Year Fair Market Value:

192,183
State & Local Government Securities - End of Year Book Value:


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


 


TY 2024 InvestmentsOtherSchedule2
Name:
HTC COTTEE CHARLES & BARBARA CLOSE FOUNDATION
EIN:
27-3017122
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ISHARES 0-5 YEAR TIPS BOND ETF AT COST 22,943 22,736
ISHARES BARCLAYS MBS BD      
ISHARES FLOATING RATE AT COST 82,723 82,934
JANUS HENDERSON MORTGAGE-BACKE AT COST 73,702 74,443

TY 2024 OtherDecreasesSchedule
Name:
HTC COTTEE CHARLES & BARBARA CLOSE FOUNDATION
EIN:
27-3017122
Description Amount
COST BASIS ADJUSTMENT 525


TY 2024 TaxesSchedule
Name:
HTC COTTEE CHARLES & BARBARA CLOSE FOUNDATION
EIN:
27-3017122
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 2,641 2,641   0
FEDERAL ESTIMATES - PRINCIPAL 8,413 0   0