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
Boswell's Fund
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

93-2246261
B Telephone number (see instructions)

(800) 839-1754
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$5,256,794J 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) 0
2 Check right arrow.............
3 Interest on savings and temporary cash investments 7,026 7,026  
4 Dividends and interest from securities... 108,113 108,113  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 14,457
b Gross sales price for all assets on line 6a 2,730,781
7 Capital gain net income (from Part IV, line 2)... 14,457
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 129,596 129,596  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
32,882 32,882    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
3,355 2,355    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 7,389     7,389
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
23,698 321   23,377
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 67,324 35,558   30,766
25 Contributions, gifts, grants paid....... 85,000 85,000
26 Total expenses and disbursements. Add lines 24 and 25 152,324 35,558   115,766
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -22,728
b Net investment income (if negative, enter -0-) 94,038
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......... 5,004,410 107,902 107,902
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......   Click to see attachment
List of Attached Documents:
// Content
4,873,780 		5,148,892
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis right 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) 5,004,410 4,981,682 5,256,794
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 5,004,410 4,981,682
29 Total net assets or fund balances (see instructions)..... 5,004,410 4,981,682
30 Total liabilities and net assets/fund balances (see instructions). 5,004,410 4,981,682
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
5,004,410
2
Enter amount from Part I, line 27a .....................
2
-22,728
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
4,981,682
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
4,981,682
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 Publicly-traded Securities      
b
c
d
e
(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 2,730,781   2,716,324 14,457
b
c
d
e
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       14,457
b
c
d
e
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 14,457
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 1,307
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 1,307
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,307
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 1,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 400
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,400
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 93
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow93 Refundedright arrow 11  
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 arrowDE
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 arrowFoundation Source Telephone no.right arrow (800) 839-1754

Located atright arrow501 Silverside Road Suite 123WilmingtonDE ZIP+4right arrow198091377
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
Jennifer J McGrath Pres, Sec, Treas, Dir
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Millicent McGrath VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
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
 
Total number of other employees paid over $50,000...................right arrow  
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
 
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
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
4,655,919
b
Average of monthly cash balances.......................
1b
718,694
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
5,374,613
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
5,374,613
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
80,619
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
5,293,994
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
264,700
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
264,700
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
1,307
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
1,307
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
263,393
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
263,393
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
263,393
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
115,766
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
115,766
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 7 263,393
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 14,492
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 115,766
a Applied to 2023, but not more than line 2a 14,492
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2024 distributable amount..... 101,274
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024.    
(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 .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		162,119
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 2019 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024.... 0
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).)
Jennifer J McGrath
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

HEARTS ALIVE VILLAGE

3250 N DECATUR BLVD
LAS VEGAS,NV89130 		N/A PC Charitable Event 10,000

KITTEN RESCUE

3519 CASITAS AVE
LOS ANGELES,CA90039 		N/A PC General & Unrestricted 20,000

SPECIAL OLYMPICS INC

2600 VIRGINIA AVE NW 11TH FL
WASHINGTON,DC20037 		N/A PC General & Unrestricted 5,000

THE WHITE COAT WASTE PROJECT INC

PO BOX 26029
WASHINGTON,DC20001 		N/A PC General & Unrestricted 50,000
Total .................................right arrow 3a 85,000
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 7,026  
4 Dividends and interest from securities ....     14 108,113  
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 14,457  
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) ..   129,596  
13Total. Add line 12, columns (b), (d), and (e)..................
13
129,596
(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

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TY 2024 DepreciationSchedule
Name:
Boswell's Fund
EIN:
93-2246261
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

TY 2024 InvestmentsCorpStockSchedule
Name:
Boswell's Fund
EIN:
93-2246261
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABS 14,749 14,365
ABBVIE INC 9,856 9,774
ACCENTURE PLC 10,549 10,202
ADVANCED MICRO DEVICES INC 15,722 11,837
AES CORP 6,091 4,762
AIA GROUP LTD ADR 14,489 12,738
AIB GROUP ORD SHS 18,562 23,528
ALCON INC 16,703 17,572
ALLEGION PLC 9,890 10,062
ALLSTATE CORP 12,307 14,845
ALPHABET INC CL A 29,385 39,564
AMAZON COM 47,697 59,455
AMERICAN EXPRESS CO 9,841 12,168
AMERIPRISE FINANCIAL INC 14,315 18,635
ANALOG DEVICES INC 10,617 11,898
APA CORPORATION 10,476 8,128
APOLLO GLOBAL MANAGEMENT, INC 11,220 16,351
APPLE INC 57,231 80,134
ASHTEAD GROUP 16,912 15,048
ASML HLDG NV ORD SHS 20,281 15,461
AUTOMATIC DATA PROCESSING INC 12,666 14,637
AZENTA INC 11,862 9,400
BAE SYSTEMS ORD GBP OTC 8,748 7,249
BANCO DE SABADELL SA 10,321 15,186
BAWAG GROUP AG EUR UNSOLICITED 16,166 24,822
BENTLEY SYSTEMS INC CL B 13,144 11,722
BERKLEY W R CP 9,905 10,182
BERKSHIRE HATHAWAY INC. CLASS 30,999 33,996
BIO RAD LABS INC CL A 22,899 22,339
BLACKROCK INC 28,280 35,879
BOSTON SCIENTIFIC 6,700 7,056
BRIGHT HORIZONS FAMILY SOLUTIO 7,709 7,870
BRISTOL-MYERS SQUIBB CO 25,555 28,280
BRITISH AMERICAN TOBACCO PLC 16,889 19,794
BROADCOM INC 43,055 74,884
BROADRIDGE FINANCIAL 11,514 12,887
BRUNSWICK CORP 10,959 8,085
CANADIAN PACIFIC RAILWAY LTD 23,042 19,395
CELEBRATE INTERNATIONAL HOLDIN 23,308 18,567
CF INDUSTRIES HOLDINGS, INC 8,445 8,959
CHARLES RIV LABORATORIES INTL 11,199 8,307
CHARLES SCHWAB CORP 6,683 7,623
CHEMED CORP 9,484 8,477
CHIPOTLE MEX GRILL 9,998 11,095
CHOICE HOTELS INTERNATIONAL IN 8,582 10,649
CHUBB LIMITED 9,952 10,776
CHUGAI PHARMACEUTICAL CO., LTD 9,809 9,152
COOPER COMPANIES INC 19,359 18,662
DEVON ENERGY CORPORATION 14,954 10,506
DOMINOS PIZZA INC 10,186 9,235
DYNATRACE 7,239 8,316
EATON CORP PLC 4,886 4,314
ELI LILLY & CO 24,229 23,932
EQUIFAX INC 8,533 8,155
EXPONENT, INC 7,812 8,732
EXXON MOBIL CORP 12,434 12,801
FAIR ISSAC & CO INC 12,980 19,909
FANUC LIMITED UNSPONSORED 13,801 12,584
FIDELITY NATIONAL INFORMATION 20,928 25,523
FIRST CITIZENS BANCSHARES INC 8,521 8,452
GALP ENERGIA, SGPS, S.A. 23,302 25,700
GATES INDUSTRIAL CORPORATION P 9,134 8,804
GENMAB A/S SPON 11,206 8,014
GLENCORE XSTRATA PLC ADR 13,448 12,449
GRACO INC 9,526 9,188
HALEON PLC GBP UNSOLICITED 17,585 20,087
HAYWARD HOLDINGS INC 8,867 10,550
HDFC BANK LTD ADR 14,220 16,987
HEICO CP CL A 13,315 15,445
HENRY JACK & ASSOC INC 10,279 10,343
HEXPOL ORD SHS CLASS B 13,459 11,196
HOME DEPOT INC 16,397 17,505
HOULIHAN LOKEY INC 12,824 16,845
HUBSPOT INC 10,804 13,239
IAC INTERACTIVE CORP 11,537 9,232
INFINEON TECH ADS 17,522 15,761
INGERSOLL-RAND INC 26,160 26,052
INVESCO S&P 500 EQUAL WEIGHT E 205,734 206,246
ISHARE SP SMALL CAP 600 INDEX 146,148 152,090
ISHARES 0-3 MONTH TREASURY 11,841 11,838
ISHARES 20+ YR TREAS BD 110,365 104,359
ISHARES BARCLAYS US AGGREGATE 165,072 161,339
ISHARES BARCLAYS US TREASURY B 54,672 55,152
ISHARES BROAD USD HIGH YIELD C 184,537 186,820
ISHARES GOLD TR 81,865 80,058
ISHARES JP MORGAN USD EM MKTS 182,391 184,402
ISHARES S&P 500 INDEX FD 376,101 413,252
ITOCHU CORP ADR OTC 13,236 14,685
JOHNSON & JOHNSON 12,944 11,570
JOHNSON CONTROLS INTERNATIONAL 6,928 6,472
JP MORGAN CHASE 15,206 19,656
KEYSIGHT TECHNOLOGIES INC 13,277 14,135
KLA TENCOR CORP 4,472 4,411
KNORR BREMSE AG EUR 18,753 20,320
KONINKLIJKE PHILIPS ELECTRONIC 14,643 19,041
LAS VEGAS SANDS CORP 22,705 21,725
LEGAL & GENERAL GROU 14,850 13,799
LENNOX INTL INC 16,698 21,935
LIBERTY MEDIA CORPORATION - SE 7,823 9,359
LINDE PLC COM 10,635 10,048
LIVE NATION INC COM 6,036 8,418
LONDON STOCK EXCH LTD 18,043 22,331
LPL FINANCIAL HOLDINGS INC 10,291 12,734
LVMH MOET HENN UNSP 16,488 13,984
LYFT INC 10,808 8,695
MARSH AND MCLENNAN COMPANIES I 19,851 20,391
MARVELL TECHNOLOGY, INC 4,583 7,511
MASTERCARD INC 23,700 26,329
MCDONALD'S CORP 9,529 9,276
META PLATFORMS INC 23,235 29,276
MICRON TECHNOLOGY 20,349 17,589
MICROSOFT CORP 130,814 134,880
MONDELEZ INTERNATIONAL INC 20,343 16,545
MORGAN STANLEY 9,328 13,075
NEXTERA ENERGY, INC 30,387 38,211
NIKE INC-CL B 12,294 8,853
NIPPON TELEGRAPH & TELEPHONE C 11,666 9,812
NORDSON CP 11,689 8,997
NORTHROP GRUMMAN CORP 14,215 14,079
NOVARTIS AG ADR 24,463 22,965
NVIDIA CORP 53,148 83,260
ORACLE CORP 21,678 32,162
PACE INTL EMERGING MARKETS EQU 176,143 183,546
PARKER HANNIFIN CP 9,081 8,268
PENTAIR INC. COM 12,627 16,606
PERNOD RICARD ORD 18,772 12,158
PHILIP MORRIS INTL 14,683 13,961
PHILLIPS 66 10,335 8,089
POOL CORP 13,530 11,933
PROCTER GAMBLE CO 9,635 10,059
PROLOGIS 34,409 27,905
REGAL REXNORD CORP 14,686 13,807
REPUBLIC SVCS INC 3,894 4,225
ROLLINS INC 6,826 7,323
S&P GLOBAL INC COM 6,404 6,972
SAIA, INC 15,722 12,760
SANDOZ GROUP AG 11,532 14,702
SHIN-ETSU CHEMICAL C 17,180 13,315
SHOPIFY INC 10,894 15,843
SITEONE LANDSCAPE SUPPLY INC 7,241 5,666
SOFTBANK CP UNSP ADR 12,689 12,133
SONY GROUP CORP 20,298 24,863
SPECTRIS PLC 12,705 8,521
STARBUCKS CORP COM 11,471 12,775
T-MOBILE US INC 12,612 16,996
TAIWAN SEMICONDUCTOR MFG CO LT 14,904 21,921
TAKE-TWO INTERACTIVE SOFTWARE 21,796 26,692
TELEDYNE TECH INC 13,260 14,852
TESLA MOTORS INC 20,796 30,692
TEXAS INSTRUMENTS INC 11,637 10,688
THE COCA-COLA CO 11,239 11,456
THERMO FISHER SCIENTIFIC INC 13,686 11,445
TJX COMPANIES INC 22,599 24,041
TOURMALINE OIL CORP 9,842 9,949
TRANE TECHNOLOGIES PLC 7,866 9,603
TRANSDIGM GRP INC 9,580 10,138
UBS EMERGING MARKETS EQ OPP FN 178,896 178,558
UMGNF 15,966 14,309
UNION PACIFIC 12,180 11,174
UNITEDHEALTH GROUP INC 47,798 46,033
UNIVERSAL DISPLAY CORP 12,005 10,526
VANGUARD CORP BOND ETF LONG TE 158,546 153,822
VANGUARD INTERMEDIATE TERM COR 135,541 136,379
VANGUARD SHORT TERM CORPORATE 189,658 192,139
VULCAN MATERIALS CO 9,021 9,003
WAL-MART STORES INC 21,462 30,629
WALT DISNEY HOLDINGS CO 14,622 16,257
WELLS FARGO & CO 26,943 34,839
WEST PHARMA SVCS INC 8,777 7,861
WESTINGHOUSE AIR BRAKE TECHNOL 7,313 10,048
WILLIAMS COS 24,974 38,209
ZEBRA TECHNOLOGIES CORP 10,430 14,290
ZOOM VIDEO COMMUNICATIONS INC 7,981 10,201
ZSCALER INC 7,046 6,314

TY 2024 OtherExpensesSchedule
Name:
Boswell's Fund
EIN:
93-2246261
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Fees 22,158     22,158
Bank Charges 321 321    
Digital Subscriptions 194     194
Foundation Dues & Memberships 1,000     1,000
State or Local Filing Fees 25     25


TY 2024 OtherProfessionalFeesSchedule
Name:
Boswell's Fund
EIN:
93-2246261
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Services 32,882 32,882    


TY 2024 TaxesSchedule
Name:
Boswell's Fund
EIN:
93-2246261
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Estimated Tax for 2024 1,000      
Foreign Tax Paid 2,355 2,355