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
GALEN COLE FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)359 PERRY ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BANGOR, ME04401
A Employer identification number

23-7425774
B Telephone number (see instructions)

(207) 262-9910
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$45,607,959J Accounting method:
MODIFIED CASH
(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) 1,560,329
2 Check right arrow.............
3 Interest on savings and temporary cash investments 239,590 239,590 239,590
4 Dividends and interest from securities... 527,703 527,703 527,703
5a Gross rents............ 29,820 29,820 29,820
b Net rental income or (loss) 29,820
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
3,541,713
b Gross sales price for all assets on line 6a 29,795,666
7 Capital gain net income (from Part IV, line 2)... 3,547,856
8 Net short-term capital gain......... 389,700
9 Income modifications...........  
10a Gross sales less returns and allowances 14,278
b Less: Cost of goods sold.... 15,820
c Gross profit or (loss) (attach schedule)..... Click to see attachment
List of Attached Documents:
// Content
-1,542 -1,542
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
162,616   162,616
12 Total. Add lines 1 through 11........ 6,060,229 4,344,969 1,347,887
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 368,024     368,024
14 Other employee salaries and wages...... 172,305     172,305
15 Pension plans, employee benefits....... 73,374     73,374
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
16,709     16,709
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
3,848     3,848
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
91,974     91,974
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
27,690 2,222    
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
46,155    
20 Occupancy.............. 35,167     35,167
21 Travel, conferences, and meetings....... 2,299     2,299
22 Printing and publications.......... 5,256     5,256
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
677,637 135,136 111,454 522,831
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,520,438 137,358 111,454 1,291,787
25 Contributions, gifts, grants paid....... 0 0
26 Total expenses and disbursements. Add lines 24 and 25 1,520,438 137,358 111,454 1,291,787
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 4,539,791
b Net investment income (if negative, enter -0-) 4,207,611
c Adjusted net income (if negative, enter -0-)... 1,236,433
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............. 149,262 81,783 81,783
2 Savings and temporary cash investments......... 1,813,821 717,377 717,377
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.............. 23,822 16,686 16,686
9 Prepaid expenses and deferred charges.......... 1,571 3,387 3,387
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 25,476,755 Click to see attachment
List of Attached Documents:
// Content
31,077,064 		41,696,657
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 arrow2,586,949
Less: accumulated depreciation (attach schedule) right arrow1,279,509 1,199,028 Click to see attachment
List of Attached Documents:
// Content
1,307,440 		1,592,140
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
1,493,486 		Click to see attachment
List of Attached Documents:
// Content
1,499,932 		Click to see attachment
List of Attached Documents:
// Content
1,499,929
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 30,157,745 34,703,669 45,607,959
Liabilities 17 Accounts payable and accrued expenses.......... 533 6,666
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)......... 533 6,666
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........... 30,157,212 34,697,003
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    
29 Total net assets or fund balances (see instructions)..... 30,157,212 34,697,003
30 Total liabilities and net assets/fund balances (see instructions). 30,157,745 34,703,669
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
30,157,212
2
Enter amount from Part I, line 27a .....................
2
4,539,791
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
34,697,003
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
34,697,003
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 BERKSHIRE HATHAWAY B P 2021-02-18 2024-01-10
b ACCENTURE PLC A P 2023-10-06 2024-01-12
c LAM RESEARCH CORP P 2020-03-25 2024-02-01
d UNITEDHEALTH GRP INC P 2020-01-31 2024-03-06
e HP INC. P 2020-08-11 2024-04-18
MARATHON PETE CORP P 2023-05-18 2024-05-20
NXP SEMICONDUCTORS P 2024-01-31 2024-06-25
US TREASURY 3% 06/30/2024 P 2023-07-25 2024-06-30
AUTOZONE INC P 2022-12-28 2024-08-15
MARATHON PETE CORP P 2024-06-11 2024-10-16
US TREASURY 1% 12/15/2024 P 2024-01-03 2024-12-15
BERKSHIRE HATHAWAY B P 2024-07-12 2024-09-18
NXP SEMICONDUCTORS N P 2024-07-25 2024-09-18
BERKSHIRE HATHAWAY B P 2022-07-15 2024-01-10
ACCENTURE PLC A P 2023-12-28 2024-01-12
LAM RESEARCH CORP P 2022-05-18 2024-02-01
MARATHON PETE CORP P 2023-05-18 2024-03-20
HP INC. P 2020-08-13 2024-04-18
SPDR PORT S&P 500 P 2024-05-22 2024-06-11
AMETEK INC P 2021-09-14 2024-06-28
AMGEN INC. P 2022-07-15 2024-07-11
AUTOZONE INC P 2023-12-28 2024-08-15
MARATHON PETE CORP P 2024-06-24 2024-10-16
US TREASURY 1% 12/15/2024 P 2024-01-11 2024-12-15
BERKSHIRE HATHAWAY B P 2024-07-30 2024-09-18
INVSC S P 500 EQUAL WEIGHT ETF P 2024-08-15 2024-09-10
BERKSHIRE HATHAWAY B P 2022-10-19 2024-01-10
AMETEK INC P 2021-09-14 2024-01-12
LAM RESEARCH CORP P 2022-10-10 2024-02-01
DIMENSIONAL U S SMALL CAP ETF P 2024-01-11 2024-03-27
MICROSOFT CORP P 2020-02-28 2024-04-23
VERTEX PHARMACEUTICA P 2024-04-18 2024-06-12
AMETEK INC P 2022-10-20 2024-06-28
AMGEN INC. P 2019-12-03 2024-07-11
AUTOZONE INC P 2024-01-31 2024-08-15
TEREX CORP NEW P 2024-01-12 2024-10-16
FFCB 0.32% 12/23/2024 CALLABLE P 2020-12-22 2024-12-23
ISHARES IBONDS DEC 2025 TERM CORPORA P 2024-07-12 2024-12-05
INVSC S P 500 EQUAL WEIGHT ETF P 2024-08-15 2024-09-17
BERKSHIRE HATHAWAY B P 2020-01-31 2024-01-11
AMETEK INC P 2023-02-09 2024-01-12
LAM RESEARCH CORP P 2022-11-01 2024-02-01
HP INC. P 2022-06-16 2024-04-12
MICROSOFT CORP P 2020-03-16 2024-04-23
WEX INC P 2023-07-14 2024-06-17
AMETEK INC P 2022-11-01 2024-06-28
AMGEN INC. P 2020-06-10 2024-07-11
AUTOZONE INC P 2024-06-11 2024-08-15
TEREX CORP NEW P 2024-01-23 2024-10-16
APPLE INC P 2024-12-05 2024-12-30
ISHRS IBNDS DEC 2026 TRM CORP ETF P 2024-07-12 2024-12-05
SPDR PORT S&P 500 P 2024-09-27 2024-10-23
BERKSHIRE HATHAWAY B P 2021-02-18 2024-01-11
TAIWAN SEMICONDUCTR ADR P 2023-03-23 2024-01-12
TEXAS INSTRUMENTS P 2022-03-22 2024-02-01
HP INC. P 2024-02-08 2024-04-12
MICROSOFT CORP P 2024-02-28 2024-04-23
WEX INC P 2023-07-17 2024-06-17
AMETEK INC P 2024-02-07 2024-06-28
NVIDIA CORP P 2023-12-13 2024-07-11
INVSC S P 500 EQUAL WEIGHT ETF P 2024-08-15 2024-09-17
TEREX CORP NEW P 2024-02-09 2024-10-16
AMAZON.COM INC P 2024-12-05 2024-12-30
ISHARES IBONDS DEC 2027 TERM ETF P 2024-07-12 2024-12-05
SPDR PORT S&P 500 P 2024-10-02 2024-10-23
ALPHABET INC. C P 2023-10-25 2024-01-11
APPLE INC P 2023-12-05 2024-01-23
TEXAS INSTRUMENTS P 2022-06-29 2024-02-01
JOHNSON & JOHNSON P 2019-12-03 2024-04-12
MICROSOFT CORP P 2024-04-12 2024-04-23
WEX INC P 2023-07-27 2024-06-17
AMETEK INC P 2024-04-23 2024-06-28
NVIDIA CORP P 2024-02-27 2024-07-11
BERKSHIRE HATHAWAY B P 2020-01-31 2024-09-18
WEX INC P 2024-08-07 2024-10-22
AON PLC A P 2024-04-12 2024-12-30
ISHARES IBONDS TERM TREASURY ETF P 2024-07-12 2024-08-05
SPDR PORT S&P 500 P 2024-10-02 2024-10-31
HP INC. P 2021-12-16 2024-01-11
BROADCOM INC P 2021-07-23 2024-01-23
TEXAS INSTRUMENTS P 2022-09-16 2024-02-01
JOHNSON & JOHNSON P 2020-01-14 2024-04-12
CDW CORP P 2019-12-03 2024-04-30
WEX INC P 2023-07-28 2024-06-17
ISHRS IBNDS DEC 2026 TRM CORP ETF P 2023-12-29 2024-06-28
ISHARES IBONDS DEC 2024 TERM CORPORA P 2023-06-30 2024-08-05
BERKSHIRE HATHAWAY B P 2020-08-13 2024-09-18
SPDR PORT S&P 500 P 2024-09-27 2024-10-23
BROADCOM INC P 2024-12-05 2024-12-30
ISHARES IBONDS TERM TREASURY ETF P 2024-07-12 2024-08-06
SPDR PORT S&P 500 P 2024-10-02 2024-12-03
HP INC. P 2022-05-18 2024-01-11
BROADCOM INC P 2022-06-16 2024-01-23
TEXAS INSTRUMENTS P 2023-05-18 2024-02-01
JOHNSON & JOHNSON P 2020-05-13 2024-04-12
CDW CORP P 2020-04-29 2024-04-30
WEX INC P 2023-07-31 2024-06-17
ISHRS IBNDS DEC 2026 TRM CORP ETF P 2024-01-29 2024-06-28
ISHARES IBONDS DEC 2024 TERM CORPORA P 2023-07-14 2024-08-05
BERKSHIRE HATHAWAY B P 2020-10-19 2024-09-18
SPDR PORT S&P 500 P 2024-10-16 2024-10-23
CATERPILLAR INC P 2024-06-28 2024-12-30
ISHARES IBONDS TERM TREASURY ETF IV P 2024-09-27 2024-12-05
TEREX CORP NEW P 2024-07-12 2024-10-16
HP INC. P 2022-06-16 2024-01-11
LAM RESEARCH CORP P 2022-05-18 2024-01-23
SPDR PORT S&P 500 P 2024-02-05 2024-02-07
JOHNSON & JOHNSON P 2020-06-10 2024-04-12
CDW CORP P 2020-05-07 2024-04-30
WEX INC P 2023-09-07 2024-06-17
ISHRS IBNDS DEC 2026 TRM CORP ETF P 2024-02-08 2024-06-28
ISHARES IBONDS DEC 2024 TERM CORPORA P 2023-09-27 2024-08-05
NXP SEMICONDUCTORS N P 2023-09-07 2024-09-18
SPDR PORT S&P 500 P 2024-09-27 2024-10-31
ALPHABET INC C P 2024-12-05 2024-12-30
ISHARES IBONDS TERM TREASURY ETF P 2024-07-12 2024-08-05
TEREX CORP NEW P 2024-07-12 2024-11-07
MASTERCARD INC A P 2022-07-15 2024-01-11
AON PLC A P 2021-03-08 2024-01-25
SPDR PORT S&P 500 P 2024-02-05 2024-02-09
SPDR PORT S&P 500 P 2024-02-05 2024-04-12
CDW CORP P 2020-07-21 2024-04-30
WEX INC P 2023-10-13 2024-06-17
ISHRS IBNDS DEC 2026 TRM CORP ETF P 2024-03-22 2024-06-28
ISHARES IBONDS DEC 2024 TERM CORPORA P 2023-10-06 2024-08-05
INVSC S P 500 EQUAL WEIGHT ETF P 2024-08-15 2024-09-18
TEREX CORP NEW P 2024-01-12 2024-11-07
MERCK & CO. INC. P 2024-09-18 2024-12-30
ISHARES IBONDS TERM TREASURY ETF P 2024-07-12 2024-08-05
TEREX CORP NEW P 2024-07-12 2024-11-08
MASTERCARD INC A P 2023-05-09 2024-01-11
AON PLC A P 2021-03-08 2024-01-25
ADOBE INC P 2023-04-25 2024-02-27
BERKSHIRE HATHAWAY B P 2020-01-31 2024-04-17
APPLE INC. 3.45% 05/06/2024 P 2020-08-25 2024-05-06
WEX INC P 2023-10-31 2024-06-17
ISHRS IBNDS DEC 2026 TRM CORP ETF P 2024-05-20 2024-06-28
LPL FINL HLDGS P 2024-02-07 2024-08-07
ADOBE INC P 2023-04-25 2024-09-27
TEREX CORP NEW P 2024-01-12 2024-11-08
NVIDIA CORP P 2024-12-05 2024-12-30
LPL FINL HLDGS P 2024-07-12 2024-08-07
WEX INC P 2024-08-07 2024-10-22
MASTERCARD INC A P 2023-05-18 2024-01-11
AON PLC A P 2024-01-10 2024-01-25
ALPHABET INC. C P 2023-10-25 2024-02-27
HP INC. P 2020-08-11 2024-04-17
CVS HEALTH CORP P 2023-12-21 2024-05-07
NVIDIA CORP P 2024-02-27 2024-06-24
MASTERCARD INC A P 2022-07-15 2024-06-28
LPL FINL HLDGS P 2024-02-28 2024-08-07
ADOBE INC P 2024-04-30 2024-09-27
US TREASURY 1.5% 11/30/2024 P 2023-12-19 2024-11-30
UNITEDHEALTH GROUP I P 2020-01-31 2024-12-30
LPL FINL HLDGS P 2024-07-23 2024-08-07
NVIDIA CORP P 2023-12-13 2024-01-11
AON PLC A P 2024-01-11 2024-01-25
ALPHABET INC. C P 2024-01-31 2024-02-27
HP INC. P 2023-10-13 2024-04-17
CVS HEALTH CORP P 2024-01-29 2024-05-07
LAM RESEARCH CORP P 2020-03-25 2024-06-25
MASTERCARD INC A P 2024-04-12 2024-06-28
LPL FINL HLDGS P 2024-04-12 2024-08-07
ADOBE INC P 2024-06-12 2024-09-27
ISHARES IBONDS DEC 2025 TERM CORPORA P 2023-06-30 2024-12-05
UNITEDHEALTH GROUP I P 2024-12-05 2024-12-30
MARATHON PETE CORP P 2024-07-12 2024-10-16
VISA INC A P 2022-08-31 2024-01-11
BROADCOM INC P 2021-04-30 2024-01-25
BERKSHIRE HATHAWAY B P 2020-01-31 2024-02-28
HP INC. P 2023-10-18 2024-04-17
CVS HEALTH CORP P 2024-01-31 2024-05-07
NORFOLK SOUTHERN CO P 2024-01-29 2024-06-25
SPDR PORT S&P 500 P 2024-05-22 2024-06-28
LPL FINL HLDGS P 2024-07-23 2024-08-07
CADENCE DESIGN SYSTE 4.375% 10/15/20 P 2020-07-08 2024-10-15
ISHARES IBONDS DEC 2025 TERM CORPORA P 2023-07-14 2024-12-05
ADOBE INC P 2024-07-12 2024-09-27
MARATHON PETE CORP P 2024-07-25 2024-10-16
WEX INC P 2023-09-07 2024-01-11
BROADCOM INC P 2021-07-23 2024-01-25
SPDR PORT S&P 500 P 2024-02-05 2024-02-28
HP INC. P 2024-02-08 2024-04-17
CVS HEALTH CORP P 2024-02-07 2024-05-07
NXP SEMICONDUCTORS P 2024-01-23 2024-06-25
SPDR PORT S&P 500 P 2024-06-17 2024-06-28
PPG INDUSTRIES, INC. 2.4% 08/15/2024 P 2020-04-30 2024-08-15
FHLB 0.57% 10/15/2024 CALLABLE P 2021-04-09 2024-10-15
MERCK & CO. INC. P 2024-09-18 2024-12-05
AUTOZONE INC P 2024-07-12 2024-08-15
MERCK & CO. INC. P 2024-09-18 2024-12-05
(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 91,712   60,634 31,078
b 46,324   40,735 5,589
c 146,212   43,589 102,623
d 49,452   28,924 20,528
e 121,120   82,278 38,842
617,690   388,441 229,249
112,770   89,338 23,432
1,000,000   978,440 21,560
123,843   95,948 27,895
506,855   561,788 -54,933
562,000   542,062 19,938
14,615   13,589 1,026
19,663   21,127 -1,464
115,557   87,844 27,713
73,050   72,185 865
279,208   163,597 115,611
179,516   101,550 77,966
272,798   180,906 91,892
783,754   772,089 11,665
34,181   26,915 7,266
65,504   49,633 15,871
79,387   64,225 15,162
141,100   155,175 -14,075
265,000   255,950 9,050
913   879 34
5,328   5,277 51
106,386   81,163 25,223
49,836   40,044 9,792
276,730   118,082 158,648
513,456   478,975 34,481
814   316 498
477,497   391,186 86,311
19,175   13,414 5,761
248,916   176,955 71,961
120,668   105,895 14,773
155,347   156,717 -1,370
350,000   350,000  
12,019   11,938 81
14,190   13,618 572
41,699   25,942 15,757
48,202   43,240 4,962
148,690   74,274 74,416
58,631   67,435 -8,804
170,120   58,674 111,446
113,350   131,741 -18,391
90,038   70,245 19,793
70,417   48,791 21,626
279,442   246,589 32,853
69,765   71,923 -2,158
32,373   31,337 1,036
12,040   11,958 82
9,489   9,436 53
30,821   20,615 10,206
394,903   372,549 22,354
193,802   223,883 -30,081
11,840   11,672 168
260,471   260,525 -54
113,350   131,560 -18,210
60,026   60,136 -110
91,339   34,525 56,814
444,324   426,426 17,898
71,742   75,819 -4,077
72,963   72,863 100
12,026   11,938 88
1,288   1,272 16
172,338   154,606 17,732
229,567   228,302 1,265
280,461   272,095 8,366
444,086   411,801 32,285
205,528   212,975 -7,447
95,848   113,371 -17,523
85,870   92,643 -6,773
100,281   62,062 38,219
102,761   50,757 52,004
356,699   289,365 67,334
77,011   66,878 10,133
15,145   15,093 52
5,567   5,556 11
50,300   61,580 -11,280
176,517   69,911 106,606
174,106   180,038 -5,932
99,919   98,078 1,841
420,187   229,616 190,571
120,018   137,861 -17,843
151,490   152,004 -514
335,676   329,528 6,148
251,194   116,863 134,331
67,100   66,726 374
103,305   76,257 27,048
16,598   16,556 42
213   201 12
99,103   122,391 -23,288
91,302   37,381 53,921
79,569   85,197 -5,628
120,643   119,799 844
393,392   180,264 213,128
125,018   140,344 -15,326
79,437   79,771 -334
250,691   246,000 4,691
98,194   45,117 53,077
237,223   239,785 -2,562
130,705   120,218 10,487
3,028   3,045 -17
10,451   10,222 229
15,120   16,572 -1,452
74,502   43,561 30,941
82,904   82,056 848
34,787   34,728 59
75,512   33,300 42,212
6,668   7,906 -1,238
36,801   36,861 -60
33,969   33,493 476
584,023   509,858 74,165
101,276   101,774 -498
52,717   48,531 4,186
15,588   15,450 138
1,442   1,381 61
4,267   3,318 949
64,085   49,568 14,517
76,681   75,677 1,004
1,124,947   1,085,283 39,664
87,691   42,413 45,278
48,340   54,814 -6,474
94,538   94,699 -161
121,335   119,499 1,836
126,829   121,885 4,944
41,485   40,974 511
40,877   49,151 -8,274
15,858   15,644 214
10,571   10,498 73
78,945   71,189 7,756
412,828   323,282 89,546
374,973   250,900 124,073
129,544   73,315 56,229
100,000   110,614 -10,614
95,014   95,758 -744
63,026   62,921 105
162,770   199,288 -36,518
61,870   44,276 17,594
306,343   313,776 -7,433
94,641   100,346 -5,705
21,370   28,764 -7,394
12,278   9,960 2,318
128,019   116,616 11,403
183,314   183,551 -237
65,441   60,303 5,138
48,272   32,836 15,436
283,854   393,339 -109,485
284,184   183,024 101,160
44,455   33,180 11,275
79,887   107,976 -28,089
340,282   308,295 31,987
698,000   675,909 22,091
20,602   11,294 9,308
4,194   4,681 -487
93,488   82,088 11,400
84,950   84,325 625
107,908   111,243 -3,335
43,834   41,936 1,898
92,076   119,077 -27,001
329,015   77,573 251,442
97,801   102,287 -4,486
390,449   506,618 -116,169
77,337   70,316 7,021
134,460   131,028 3,432
20,099   23,586 -3,487
20,968   21,692 -724
97,457   73,659 23,798
61,606   22,899 38,707
323,606   177,085 146,521
112,913   110,408 2,505
50,840   67,193 -16,353
235,928   263,902 -27,974
46,551   45,015 1,536
119,831   133,731 -13,900
100,000   112,101 -12,101
250,391   244,100 6,291
16,499   17,932 -1,433
1,104   1,206 -102
138,556   138,347 209
357,318   139,822 217,496
369,926   360,118 9,808
47,718   48,377 -659
51,404   68,574 -17,170
147,675   123,186 24,489
1,124,925   1,128,814 -3,889
160,000   165,465 -5,465
350,000   349,948 52
156,254   180,459 -24,205
19,053   17,618 1,435
4,112   4,749 -637
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       31,078
b       5,589
c       102,623
d       20,528
e       38,842
      229,249
      23,432
      21,560
      27,895
      -54,933
      19,938
      1,026
      -1,464
      27,713
      865
      115,611
      77,966
      91,892
      11,665
      7,266
      15,871
      15,162
      -14,075
      9,050
      34
      51
      25,223
      9,792
      158,648
      34,481
      498
      86,311
      5,761
      71,961
      14,773
      -1,370
       
      81
      572
      15,757
      4,962
      74,416
      -8,804
      111,446
      -18,391
      19,793
      21,626
      32,853
      -2,158
      1,036
      82
      53
      10,206
      22,354
      -30,081
      168
      -54
      -18,210
      -110
      56,814
      17,898
      -4,077
      100
      88
      16
      17,732
      1,265
      8,366
      32,285
      -7,447
      -17,523
      -6,773
      38,219
      52,004
      67,334
      10,133
      52
      11
      -11,280
      106,606
      -5,932
      1,841
      190,571
      -17,843
      -514
      6,148
      134,331
      374
      27,048
      42
      12
      -23,288
      53,921
      -5,628
      844
      213,128
      -15,326
      -334
      4,691
      53,077
      -2,562
      10,487
      -17
      229
      -1,452
      30,941
      848
      59
      42,212
      -1,238
      -60
      476
      74,165
      -498
      4,186
      138
      61
      949
      14,517
      1,004
      39,664
      45,278
      -6,474
      -161
      1,836
      4,944
      511
      -8,274
      214
      73
      7,756
      89,546
      124,073
      56,229
      -10,614
      -744
      105
      -36,518
      17,594
      -7,433
      -5,705
      -7,394
      2,318
      11,403
      -237
      5,138
      15,436
      -109,485
      101,160
      11,275
      -28,089
      31,987
      22,091
      9,308
      -487
      11,400
      625
      -3,335
      1,898
      -27,001
      251,442
      -4,486
      -116,169
      7,021
      3,432
      -3,487
      -724
      23,798
      38,707
      146,521
      2,505
      -16,353
      -27,974
      1,536
      -13,900
      -12,101
      6,291
      -1,433
      -102
      209
      217,496
      9,808
      -659
      -17,170
      24,489
      -3,889
      -5,465
      52
      -24,205
      1,435
      -637
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 3,547,856
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 3 389,700
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 58,486
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 58,486
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 58,486
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 15,500
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 42,568
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 58,068
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 73
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 491
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 arrow   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
Yes
 
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 arrowME
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
Yes
 
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. Click to see attachment
List of Attached Documents:
// Content
...............................
10
Yes
 
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 arrowWWW.COLEMUSEUM.ORG
14
The books are in care ofright arrowMORGAN KNOX Telephone no.right arrow (207) 262-9910

Located atright arrow359 PERRY ROADBANGORME ZIP+4right arrow04401
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
 
 
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
ERIC VOGELL TREASURER
1.00 		0 0 0
12 FENGLER ROAD
SCARBOROUGH,ME04074
KRISTIN VOGELL CHAIR
1.00 		0 0 0
12 FENGLER ROAD
SCARBOROUGH,ME04074
JOHN R THOMAS VICE CHAIR
1.00 		0 0 0
334 MAPLE STREET
BANGOR,ME04401
MICHAEL VARNEY TRUSTEE
1.00 		0 0 0
8 PAYEUR CIRCLE
FALMOUTH,ME04105
SCOTT OXLEY PRESIDENT
40.00 		299,520 10,430 0
359 PERRY ROAD
BANGOR,ME04401
GEORGE EATON TRUSTEE
1.00 		0 0 0
50 HEMLOCK POINT ROAD
ORONO,ME04473
JENNIFER MUNSON MUSEUM DIREC
40.00 		68,504 8,715 0
359 PERRY ROAD
BANGOR,ME04401
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  
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
HM PAYSON & CO INVESTMENT MGR 135,356
ONE PORTLAND SQUARE
5TH FL
PORTLAND,ME04101
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 TRANSPORTATION MUSEUM: TO COLLECT, CONSTRUCT, RESTORE, DISPLAY AND MAINTAIN ANTIQUE EQUIPMENT AND FACILITIES THEMATIC TO EARLY MAINE LIFE, TRANSPORTATION AND INDUSTRY. 974,585
2 PROVIDES READING RECOVERY TRAINING PROGRAM TO TEACHERS WORKING WITH IDENTIFIED STRUGGLING 1ST GRADE READERS IN PARTICIPATING SCHOOLS. 117,993
3 PROVIDES FINANCIAL SUPPORT FOR STUDENTS IN NEED TO RAISE THE ASPIRATIONS OF STUDENTS TO ACHIEVE HIGHER LEVELS OF EDUCATION THROUGH STEM OUTREACH PROGRAMS AND CAMPS AT THE MUSEUM. 50,000
4 SCHOLARSHIP GRANTS TO ELIGIBLE COLLEGE LEVEL STUDENTS AT UNIVERSITY OF MAINE, HUSSON UNIVERSITY, EASTERN MAINE COMMUNITY COLLEGE AND THE CLIFF VINING MEMORIAL SCHOLARSHIP. ALL SCHOLARSHIP RECIPIENTS ARE REQUIRED TO VOLUNTEER 30 HOURS AS PART OF THE FOUNDATION'S MISSION TO IMPROVE THE ASPIRATIONS OF CHILDREN. VOLUNTEER WORK IS DONE IN PERSON, AT THE MUSEUM. 48,979
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 N/A  
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
37,889,091
b
Average of monthly cash balances.......................
1b
1,355,607
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
39,244,698
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
 
3
Subtract line 2 from line 1d.........................
3
39,244,698
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
588,670
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
38,656,028
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,932,801
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
 
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
 
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
 
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
 
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
 
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
 
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
1,291,787
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
160,711
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
1,452,498
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  
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......  
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$  
a Applied to 2023, but not more than line 2a  
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.....  
e Remaining amount distributed out of corpus  
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  
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 .......... 		 
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 ...... 		 
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....  
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
1975-02-13
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
1,236,433 692,986 401,165 1,671,506 4,002,090
b 85% (0.85) of line 2a ......... 1,050,968 589,038 340,990 1,420,780 3,401,776
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		1,452,498 1,186,614 1,090,608 1,096,096 4,825,816
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 .... 		1,452,498 1,186,614 1,090,608 1,096,096 4,825,816
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 .. 		1,288,534 1,073,726 1,066,555 1,114,337 4,543,152
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 e-mail address of the person to whom applications should be addressed:
SCOTT OXLEY
359 PERRY ROAD
BANGOR,ME04401
(207) 262-9910
bThe form in which applications should be submitted and information and materials they should include:
NO SPECIFIC FORM
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
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
Total .................................right arrow 3a  
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
aTICKET SALES         97,491
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 239,590  
4 Dividends and interest from securities ....     14 527,703  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 29,820  
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    14 3,547,856 -6,143
9 Net income or (loss) from special events:         46,468
10 Gross profit or (loss) from sales of inventory         -1,542
11 Other revenue:
aMISCELLANEOUS INCOME 		        4,694
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   4,344,969 140,968
13Total. Add line 12, columns (b), (d), and (e)..................
13
4,485,937
(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.)
1A TO RECOVER PART OF THE COST OF SERVING THE GENERAL PUBLIC VISITING THE MUSEUM OR USING RESOURCES AND TO OFFSET, IN PART, FREE ADMISSION AND TRANSPORTATION OF SCHOOL GROUPS.
8 LOSS FROM DISPOSAL OF CAPITALIZED ASSETS THAT WERE UTILIZED BY THE FOUNDATION BUT WERE LONGER IN SERVICE.
9 VARIOUS FUNDRAISING EVENTS HELD TO BENEFIT THE MUSEUM.
10 SALE OF GIFT AND SOUVENIER ITEMS AT A MARGIN OVER COST IN ORDER TO SUPPORT FREE ADMISSION FOR SCHOOL-AGE CHILDREN AND TO LIMIT THE PRICE OF GENERAL ADMISSION.
11B INCOME FROM SALE OF NON-CAPITALIZED OFFICE FURNITURE, INCOME FROM REDEPMTION OF CREDIT CARD REWARDS, AND REIMBURSEMENT OF EXPENSE FROM STATE.
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
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
GALEN COLE FAMILY FOUNDATION
 
Employer identification number

23-7425774
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
GALEN COLE FAMILY FOUNDATION
  		Employer identification number
23-7425774
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
ESTATE OF GARRET COLE
12 FENGLER ROAD
 
SCARBOROUGH, ME04074

$ 1,536,415


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
GALEN COLE FAMILY FOUNDATION
  		Employer identification number

23-7425774
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
GALEN COLE FAMILY FOUNDATION
  		Employer identification number

23-7425774
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BBSC CPAS 3,848     3,848

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

TY 2024 DepreciationSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
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
FULLY DEPRECIATED 1983-01-01 17,371 17,371 S/L 10.0000        
PERRY ROAD LAND 1991-01-01 137,000              
PERRY ROAD LAND 1993-01-01 61,133              
MUSEUM LAND 1993-01-01 84,936              
MUSEUM BUILDING 1993-01-01 730,770 730,770 S/L 31.5000        
MUSEUM FLOOR 1994-01-01 14,958 14,958 S/L 10.0000        
JOHN DEERE TRACTOR (405) 1998-06-22 17,000 17,000 200DB 5.0000        
STORAGE GARAGE 1999-07-01 21,391 13,635 S/L 39.0000 549      
SCOOTER LIFT 2000-10-04 1,850 1,850 S/L 5.0000        
BUILDING 359 PERRY 2000-11-05 315,300 178,869 S/L 39.0000 8,085      
LAND 359 PERRY ROAD 2001-11-05 51,700              
IRRIGATION SYSTEM 2003-07-25 9,500 9,500 S/L 15.0000        
OFFICE EQUIPMENT 2007-11-01 2,583 2,583 200DB 7.0000        
359 PERRY OUTSIDE 2007-11-01 82,556 82,556 150DB 15.0000        
359 PERRY INSIDE 2007-11-01 81,752 33,801 S/L 39.0000 2,096      
WINDOW CURTAIN (359) 2008-03-07 1,840 1,840 200DB 7.0000        
NEW DUCT WORK 2008-05-29 2,440 977 S/L 39.0000 63      
DEHUMIDIFIERS (405) 2008-10-16 2,675 2,675 200DB 7.0000        
SOUND SYSTEM (405) 2009-03-25 16,120 16,120 S/L 7.0000        
PERRY ROAD LAND 2009-08-19 92,501              
CARPETING - GS SECTION (359) 2009-11-30 5,706 5,706 S/L 7.0000        
IMPROVEMENTS 2010-04-17 2,859 1,005 S/L 39.0000 73      
WINDOWS 359 PERRY RD 2010-10-26 601 204 S/L 39.0000 15      
TELEPHONE & COMPUTER SYSTEM (359) 2010-12-28 43,504 43,504 200DB 7.0000        
HVAC SYSTEM 2010-12-31 12,350 4,117 S/L 39.0000 316      
VINYL AWNING (359) 2013-10-14 1,920 1,920 200DB 7.0000        
COPIER/FAX/SCANNER (359) 2013-11-06 7,331 7,331 200DB 5.0000        
SECURITY SYSTEM (359) 2013-12-09 5,399 5,399 200DB 5.0000        
LAWN BUSHEL DUMP (405) 2013-12-18 3,425 3,425 200DB 5.0000        
APPLE MACBOOK PRO 2014-07-14 1,425 1,425 S/L 5.0000        
L.KJENSTAD MEMORIAL BRIDGE SIGN/BOARDS 2014-07-22 2,460 2,460 200DB 5.0000        
SECURITY SYSTEM (405 PERRY) 2014-12-01 8,682 8,682 200DB 5.0000        
FIRE ALARM/RADIO COMMUNICATOR (405 PERRY) 2014-12-01 1,337 1,337 200DB 5.0000        
2000 TRAILER 2014-12-02 3,500 3,500 200DB 5.0000        
SPRINKLER SYSTEM UPGRADE 2016-10-28 5,610 2,680 S/L 15.0000 374      
MERAKI DUAL BAND SERVER 2017-01-10 1,198 1,198 S/L 5.0000        
8G WATER COOLER 2017-05-08 2,062 2,062 S/L 5.0000        
2018 FORD F150 2017-12-14 24,999 24,999 S/L 5.0000        
XEROX COLOR COPIER - 405 2018-03-30 6,450 6,450 S/L 5.0000        
FORD 150 TRUCK WRAP 2018-04-12 3,514 3,514 S/L 5.0000        
EXHIBIT SIGNS 2018-11-02 1,826 1,826 S/L 5.0000        
CONFERENCE ROOM & BATHROOM RENOVATIONS 2019-03-19 28,875 6,858 S/L 20.0000 1,444      
(1) I7 NUC COMPUTER SYSTEM 19081 2019-09-06 1,054 913 S/L 5.0000 141      
(1) I7 NUC COMPUTER SYSTEM 19081 2019-09-06 1,054 913 S/L 5.0000 141      
3HP AIR COMPRESSOR - SPRINKLER SYS 2020-01-29 4,276 1,117 S/L 15.0000 285      
NEW MUSEUM ROOF 2020-04-28 300,000 44,000 S/L 25.0000 12,000      
MERAKI PORT SWITCH - SERVER 2020-06-17 5,506 3,854 S/L 5.0000 1,101      
DEHUMIDIFIER 2020-10-16 3,765 1,703 S/L 7.0000 538      
PARKING LOT PAVING 2021-05-21 51,400 8,852 S/L 15.0000 3,427      
DEHUMIDIFIER 2021-05-10 3,958 1,508 S/L 7.0000 565      
SUPERMICRO SERVER 2021-10-29 12,879 5,581 S/L 5.0000 2,576      
MUSEUM OFFICE RENOVATIONS 2021-12-31 65,000 3,333 S/L 39.0000 1,667      
(1) I5 NUC COMPUTER (CURATORS DESKTOP) 2022-02-17 857 314 S/L 5.0000 172      
(1) HP ENVY LAPTOP (CURATOR) 2022-03-01 1,199 440 S/L 5.0000 239      
DIGITAL TOUCH SCREEN SIGNAGE 2022-12-31 1,247 249 S/L 5.0000 250      
(1) HP ENVY LAPTOP (PT REMOTE) 2022-07-01 999 300 S/L 5.0000 200      
ROPE STANCHION AND CHAIN LINK 2022-04-19 5,999 2,000 S/L 5.0000 1,199      
OFFICE SHADES 2022-04-11 1,385 485 S/L 5.0000 277      
CONFERENCE ROOM CARPET TILE 2022-11-22 6,480 1,009 S/L 7.0000 924      
BATHOOM RENOVATIONS 2022-12-01 7,277 394 S/L 20.0000 364      
MUSEUM OFFICE RENOVATIONS 2022-03-29 105,534 4,735 S/L 39.0000 2,706      
ID BADGE PRINTER 2022-05-13 720 240 S/L 5.0000 144      
HP PROBOOK LAPTOP & DOCK STATION - PRES 2023-05-16 1,298 151 S/L 5.0000 260      
DELL DESKTOP - MUSEUM DIRECTOR 2023-06-28                
LED RETROFIT 2023-11-24 4,300 9 S/L 39.0000 110      
(2) MODINE HANGING UNIT HEATERS 2023-12-04 38,725 83 S/L 39.0000 993      
2007 APPRECIATION - 359 PERRY RD 2023-12-31 284,700              
REFURBISHED DESKTOP - VOLUNTEER STATION 2023-09-28                
(9) DOOR GLASS KITS 2024-01-26 1,609   S/L 20.0000 74      
FLOORING - 2ND FLOOR ROOM 2024-02-08 1,970   S/L 15.0000 120      
FLOORING UPGRADE - LAM/CARPET 2024-05-03 22,816   S/L 15.0000 1,014      
ELECTRICAL UPGRADES 2024-01-18 3,584   S/L 20.0000 164      
TRAINING TABLES AND CHAIRS 2024-04-16 12,360   S/L 15.0000 549      
HEATING SYSTEM - SOFTWARE UPGRADE CONTROLS 2024-06-28 8,825   S/L 20.0000 221      
REFURBISHED DESKTOP - MUSEUM STAFF 2024-05-06                
DESKTOP SCANNER - CURATOR 2024-07-09                
SECURITY SYSTEM - MUSEUM 2024-12-15 86,798   S/L 15.0000 482      
CAMERA AND LIGHTING 2024-12-15 4,322   S/L 5.0000 72      
PHONE SYSTEM 2024-11-01 2,241   S/L 5.0000 75      
SECURITY SYSTEM - 359 PERRY RD 2024-12-15 16,185   S/L 15.0000 90      

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

TY 2024 GainLossSaleOtherAssetsSch
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
DEHUMIDIFIERS (405) 2008-10 PURCHASE 2024-12     2,675       2,675
SOUND SYSTEM (405) 2009-03 PURCHASE 2024-12     16,120       16,120
CARPETING - GS SECTION (359) 2009-11 PURCHASE 2024-12     5,706       5,706
TELEPHONE & COMPUTER SYSTEM (359) 2010-12 PURCHASE 2024-12     43,504       43,504
LAWN BUSHEL DUMP (405) 2013-12 PURCHASE 2024-12     3,425       3,425
COPIER/FAX/SCANNER (359) 2013-11 PURCHASE 2024-12     7,331       7,331
SECURITY SYSTEM (359) 2013-12 PURCHASE 2024-12     5,399       5,399
APPLE MACBOOK PRO 2014-07 PURCHASE 2024-12     1,425       1,425
2000 TRAILER 2014-12 PURCHASE 2024-12     3,500       3,500
MERAKI DUAL BAND SERVER 2017-01 PURCHASE 2024-12     1,198       1,198
XEROX COLOR COPIER - 405 2018-03 PURCHASE 2024-12     6,450       6,450
(1) I7 NUC COMPUTER SYSTEM 2019-09 PURCHASE 2024-12     1,054       1,054
(1) I7 NUC COMPUTER SYSTEM 2019-09 PURCHASE 2024-12     1,054       1,054
MERAKI PORT SWITCH - SERVER 2020-06 PURCHASE 2024-12     5,506     -551 4,955
SUPERMICRO SERVER 2021-10 PURCHASE 2024-12     12,879     -4,722 8,157
(1) I5 NUC COMPUTER (CURATORS DESKTOP) 2022-02 PURCHASE 2024-12     857     -371 486
(1) HP ENVY LAPTOP (PT REMOTE) 2022-07 PURCHASE 2024-12     999     -499 500
REFURBISHED DESKTOP - VOLUNTEER STATION 2023-09 PURCHASE 2024-12              
REFURBISHED DESKTOP - MUSEUM STAFF 2024-05 PURCHASE 2024-12              

TY 2024 InvestmentsCorpStockSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Name of Stock End of Year Book Value End of Year Fair Market Value
CHARLES SCHWAB MUTUAL FUNDS 1,697,318 1,753,073
CHARLES SCHWAB EQUITIES 24,067,228 34,650,863
CHARLES SCHWAB EXCHANGE TRADED 1,223,948 1,226,484
CHARLES SCHWAB FIXED INCOME 4,088,570 4,066,237

TY 2024 LandEtcSchedule2
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
BUILDINGS AND EQUIPMENT 2,108,279 1,279,509 828,770 1,113,470
LAND 478,670   478,670 478,670


TY 2024 LegalFeesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL EXPENSES 16,709     16,709


TY 2024 OtherAssetsSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
MUSEUM ARTIFACTS 1,493,486 1,496,726 1,496,723
CAPITAL PENDING   3,206 3,206


TY 2024 OtherExpensesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
NIGHT AT THE MUSEUM        
PARKING 1,000   1,000  
PRIZES & AWARDS 272   272  
SUPPLIES 230   230  
ADVERTISING 1,280   1,280  
COFFEE WITH VETS        
FOOD 395   395  
CHEERS & GEARS        
FOOD & BEVERAGE 3,456   3,456  
TABLES & LINEN RENTALS 1,165   1,165  
PARKING 1,000   1,000  
MUSIC 250   250  
PRIZES & AWARDS 85   85  
SUPPLIES 1,270   1,270  
ADVERTISING 1,280   1,280  
TRANSPORTATION FESTIVAL        
PARKING 1,000   1,000  
ADVERTISING 1,280   1,280  
EXPENSES        
INVESTMENT MANAGEMENT FEES 135,356 135,136    
ADVERTISING 9,840     23,803
BANK & CREDIT CARD FEES 3,926     3,926
DUES & MEMBERSHIPS 1,037     1,037
FOOD & BEVERAGE 2,159     2,159
SUPPLIES 15,527     15,527
POSTAGE 1,410     1,410
VEHICLE EXPENSE 1,034     1,034
VOLUNTEER FUNCTION EXPENSE 19,132     19,132
INSURANCE 36,105     16,655
REPAIRS & MAINTENANCE 111,790     111,790
COMMUNITY PROGRAMS 154,500     154,500
VETERAN PROGRAMS 50,196     50,196
SCHOOL PROGRAMS 117,993     117,993
ACTIVITY RELATED EXPENSES     97,491  
CASH OVER/SHORT 26     26
EMPLOYEE RECOGNITION 1,979     1,979
MISCELLANEOUS 170     170
EDUCATION & TRAINING 1,494     1,494


TY 2024 OtherIncomeSchedule2
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
TICKET SALES 97,491   97,491
NIGHT AT THE MUSEUM 7,802   7,802
COFFEE WITH VETS 1,084   1,084
CHEERS & GEARS 34,089   34,089
TRANSPORTATION FESTIVAL 17,456   17,456
MISCELLANEOUS INCOME 4,694   4,694


TY 2024 OtherProfessionalFeesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PAYROLL PROCESSING FEES 2,403     2,403
CONSULTING 43,522     43,522
INFORMATION TECH SUPPORT 44,303     44,303
THIRD PARTY ADMIN SERVICES 1,746     1,746


TY 2024 SalesOfInventoryList 
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774

Category Gross Sales Cost of Goods Sold Net (Gross Sales Minus
Cost of Goods Sold)
COUNTER SALES 14,278 15,820 -1,542

TY 2024 SubstantialContributorsSch
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Name Address
ESTATE OF GARRET COLE 12 FENGLER ROAD
SCARBOROUGH,ME04074


TY 2024 TaxesSchedule
Name:
GALEN COLE FAMILY FOUNDATION
EIN:
23-7425774
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INCOME TAX 25,468      
FOREIGN TAXES 2,222 2,222