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

27-3422536
B Telephone number (see instructions)

(617) 227-7940
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$78,047,944J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,178,431 1,175,765  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
2,245,734
b Gross sales price for all assets on line 6a 3,889,505
7 Capital gain net income (from Part IV, line 2)... 2,243,222
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
823,441 836,154  
12 Total. Add lines 1 through 11........ 4,247,606 4,255,141  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 237,823 118,912   118,911
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
4,985 2,492   2,493
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
44,805 22,403   22,042
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
209,805 209,085   0
17 Interest............... 32,595 32,595   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
45,407 45,407   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
656,129 653,229   2,360
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,231,549 1,084,123   145,806
25 Contributions, gifts, grants paid....... 3,318,880 3,318,880
26 Total expenses and disbursements. Add lines 24 and 25 4,550,429 1,084,123   3,464,686
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -302,823
b Net investment income (if negative, enter -0-) 3,171,018
c Adjusted net income (if negative, enter -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......... 1,655,770 3,067,553 3,067,553
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)....... 9,405,092 Click to see attachment
List of Attached Documents:
// Content
9,244,717 		14,558,764
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).......... 55,272,401 Click to see attachment
List of Attached Documents:
// Content
53,776,057 		60,421,627
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) 66,333,263 66,088,327 78,047,944
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 6,604,742 6,604,742
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 59,728,521 59,483,585
29 Total net assets or fund balances (see instructions)..... 66,333,263 66,088,327
30 Total liabilities and net assets/fund balances (see instructions). 66,333,263 66,088,327
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
66,333,263
2
Enter amount from Part I, line 27a .....................
2
-302,823
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
248,327
4
Add lines 1, 2, and 3 ..........................
4
66,278,767
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
190,440
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
66,088,327
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 H&B LLP - PUBLICLY TRADED SECURITIES      
b H&B LLP - PUBLICLY TRADED SECURITIES      
c H&B LLP - PUBLICLY TRADED SECURITIES      
d CLEAN ENERGY FUND, L.P. P    
e CLEAN ENERGY FUND, L.P. P    
DAVIDSON KEMPNER INST PTNRS LP P    
DAVIDSON KEMPNER INST PTNRS LP P    
GQG PARTNERS GLOBAL EQ FD P    
GQG PARTNERS GLOBAL EQ FD P    
OBVIOUS GROWTH I, L.P. P    
OBVIOUS VENTURES IV, LP P    
PALMER SQUARE U-S DUR INVEST GR FD P    
PALMER SQUARE U-S DUR INVEST GR FD P    
SUSTAINABLE ASSET FUND II, LP P    
SUSTAINABLE ASSET FUND II, LP P    
SUSTAINABLE ASSET FUND III, LP P    
SUSTAINABLE ASSET FUND III, LP P    
TRIDENT VIII, L.P. P    
WHITESPRUCE FUND LP P    
WHITESPRUCE FUND LP P    
BANCRO 2006 VENTURE CAPITAL FUND LLC P    
BANCRO 2006 VENTURE CAPITAL FUND LLC P    
AACP INVESTORS, L.P. P    
ASIA ALTERNATIVES CAP PTNRS II, LP P    
LL MORTGAGE FUND LP P    
LL MORTGAGE FUND LP P    
WYNNCHURCH CAPITAL PARTNERS V LP P    
ACCOLADE PARTNERS VII, L.P. P    
ACCOLADE PARTNERS VII, L.P. P    
ACCOLADE PARTNERS VIII, L.P. P    
ACCOLADE PARTNERS VIII, L.P. P    
ACCOLADE PARTNERS IX, L.P. P    
ACCOLADE PARTNERS IX, L.P. P    
BASE10 ADVANCEMENT INITIATIVE I LP P    
BASE10 PARTNERS III, LP P    
MATRIX CAPITAL MANAGEMENT FUND (OFFSHORE), LTD P    
THE OVERLOOK PARTNERS FUND LP P    
THE OVERLOOK PARTNERS FUND LP P    
GLOBAL RESOURCE OPTIMIZATION FUND, LP P    
GLOBAL RESOURCE OPTIMIZATION FUND, LP P    
TA XV-B, L.P. P    
TA XV-B, L.P. P    
TA XIII-B, L.P. P    
TA XIII-B, L.P. P    
HRJ CAPITAL VC VI (INTERNATIONAL), L.P. P    
HRJ GLOBAL BUY-OUT III (EUROPE), LP P    
HRJ GLOBAL BUY-OUT III (US), LP P    
CLEAN GROWTH FUND IV, LP P    
CLEAN GROWTH FUND IV, LP P    
CLEAN GROWTH FUND V, LP P    
CLEAN GROWTH FUND V, LP P    
CAPITAL DYNAMICS CHAMPION VENTURES VI, LP P    
CAPITAL DYNAMICS CHAMPION VENTURES VI, LP P    
STRATEGIC INVESTORS FUND IV, L.P. P    
STRATEGIC INVESTORS FUND IV, L.P. P    
TUCKERBROOK SB GLOBAL DISTR FD P    
TUCKERBROOK SB GLOBAL DISTR FD P    
CAP DYN TRANS PTNRS 2021 LP P    
CAP DYN TRANS PTNRS 2021 LP P    
IR&M CORE BOND FUND P    
IR&M CORE BOND FUND P    
STEWART INVESTORS GEMLS FUND (DST) P    
STEWART INVESTORS GEMLS FUND (DST) P    
TA XIV-B, L.P. P    
TA XIV-B, L.P. P    
POLUNIN DEVLOPING COUNTRIES FUND, LLC P    
POLUNIN DEVLOPING COUNTRIES FUND, LLC P    
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 27,798   28,423 -625
b 3,661   3,661 0
c 1,145,874   1,068,103 77,771
d 157,820     157,820
e 250,833     250,833
4,372     4,372
58,724     58,724
35,987     35,987
609,356     609,356
      -41,686
      -622
5,666     5,666
19,570     19,570
187,027     187,027
1,324     1,324
      -8,442
      -70,657
80,067     80,067
109,552     109,552
516,668     516,668
928     928
38,822     38,822
2,341     2,341
7,081     7,081
873     873
5,532     5,532
18,912     18,912
1,801     1,801
14,735     14,735
1,643     1,643
5,830     5,830
      -15
20     20
7,676     7,676
      -2,196
152,262     152,262
11,071     11,071
      -24,391
17,586     17,586
      -12,647
      0
      0
2,345     2,345
144,661     144,661
8,403     8,403
      -35,852
      -24,487
      -2
13,076     13,076
      -36
      -5,206
15     15
      -128,303
      -974
112,578     112,578
4     4
14     14
      -197
15,570     15,570
19,338     19,338
      -146,028
1,680     1,680
      -14,724
3,697     3,697
5,574     5,576
      -5,785
      -21,275
58,565     58,565
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       -625
b       0
c       77,771
d       157,820
e       250,833
      4,372
      58,724
      35,987
      609,356
      -41,686
      -622
      5,666
      19,570
      187,027
      1,324
      -8,442
      -70,657
      80,067
      109,552
      516,668
      928
      38,822
      2,341
      7,081
      873
      5,532
      18,912
      1,801
      14,735
      1,643
      5,830
      -15
      20
      7,676
      -2,196
      152,262
      11,071
      -24,391
      17,586
      -12,647
      0
      0
      2,345
      144,661
      8,403
      -35,852
      -24,487
      -2
      13,076
      -36
      -5,206
      15
      -128,303
      -974
      112,578
      4
      14
      -197
      15,570
      19,338
      -146,028
      1,680
      -14,724
      3,697
      5,576
      -5,785
      -21,275
      58,565
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 2,243,222
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 44,077
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 44,077
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 44,077
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 136,577
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 136,577
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 92,500
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow92,500 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 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 arrowN/A
14
The books are in care ofright arrowHEMENWAY BARNES LLP Telephone no.right arrow (617) 227-7940

Located atright arrow75 STATE STREETBOSTONMA ZIP+4right arrow021091466
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 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
Yes
 
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
 
No
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 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
NANCY B GARDINER TRUSTEE
1.25 		118,912 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
KURT F SOMERVILLE TRUSTEE
1.25 		118,911 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
JESSICA GRIFFITHS TRUSTEE
1.25 		0 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
JEAN B STEVENSON TRUSTEE
1.25 		0 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
ELIZABETH STEELE TRUSTEE
1.25 		0 0 0
C/O HEMENWAY BARNES LLP 75 STATE ST
16TH FLOOR
BOSTON,MA02109
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
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
14,723,329
b
Average of monthly cash balances.......................
1b
2,267,547
c
Fair market value of all other assets (see instructions)................
1c
59,921,240
d
Total (add lines 1a, b, and c).........................
1d
76,912,116
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
76,912,116
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,153,682
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
75,758,434
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
3,787,922
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
3,787,922
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
44,077
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
44,077
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
3,743,845
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
3,743,845
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
3,743,845
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
3,464,686
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,464,686
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 3,743,845
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 3,463,140
b Total for prior years:20 , 20, 20 0
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 ........ 0
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 3,464,686
a Applied to 2023, but not more than line 2a 3,463,140
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 1,546
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		3,742,299
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
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....  
Form 990-PF (2024)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

BIGELOW LABORATORY FOR OCEAN SCIENCES

60 BIGELOW DRIVE
EAST BOOTHBAY,ME04544 		NONE PUBLIC CHARITY CLIMATE CHANGE-RELATED OCEANOGRAPHIC RESEARCH 200,000

BLACK HERITAGE TRAIL OF NEW HAMPSHIRE

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

CONSERVATION LAW FOUNDATION INC

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

GRANITE STATE ORGANIZING PROJECT

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

GULF OF MAINE RESEARCH INSTITUTE

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

INSTITUTE FOR NONPROFIT PRACTICE

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

INTERNATIONAL INSTITUTE OF NEW ENGLAND INC

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

ISLAND INSTITUTE

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

MAINE ENVIRONMENTAL EDUCATION ASSOCIATION

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

MAINE INITIATIVES INC

56 NORTH STREET SUITE 100
PORTLAND,ME04101 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

MAINE PUBLIC BROADCASTING CORPORATION

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

MASSACHUSETTS GENERAL HOSPITAL

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

MOTE MARINE LABORATORY

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

NAMI NEW HAMPSHIRE INCORPORATED

85 NORTH STATE STREET
CONCORD,NH03301 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 100,000

NEW ENGLAND GRASSROOTS ENVIRONMENT FUND INC

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

NEW HAMPSHIRE SUSTAINABLE ENERGY ASSOCIATION

30 LONG POND ROAD
CONCORD,NH03301 		NONE PUBLIC CHARITY OPERATING SUPPORT FOCUSED ON CAPACITY BUILDING FOR LOCAL ENERGY SUPPORT, ORGANIZATIONAL DEVELOPMENT AND OUTREACH 85,000

OPEN SPACE INSTITUTE LAND TRUST INC

1350 BROADWAY SUITE 201
NEW YORK,NY100180983 		NONE PUBLIC CHARITY THE CLIMATE CATALYST PROGRAM 125,000

OUT MAINE

63 PARK STREET
ROCKLAND,ME04841 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

OUTRIGHT VERMONT

241 N WINOOSKI AVENUE
BURLINGTON,VT054015420 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 100,000

POSITIVE TRACKS INC

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

REPRODUCTIVE EQUITY NOW FOUNDATION

70 FRANKLIN STREET FL 5
BOSTON,MA02110 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 125,000

RESIST INC

PO BOX 301240
BOSTON,MA02130 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 200,000

SHELBURNE FARMS

1611 HARBOR ROAD
SHELBURNE,VT05482 		NONE PUBLIC CHARITY CLIMATE CHANGE EDUCATION PROGRAMS 122,000

THEATRE UP

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

UNIVERSITY SYSTEM OF NEW HAMPSHIRE

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

UPSTREAM USA INC

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

URBAN FARMING INSTITUTE OF BOSTON OF BOSTON INC

487 NORFOLK STREET
MATTAPAN,MA02126 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000

VERMONT LAW SCHOOL INC

164 CHELSEA STREET
SOUTH ROYALTON,VT05068 		NONE PUBLIC CHARITY THE CLIMATE JUSTICE PROJECT 100,000

VERMONT SUSTAINABLE JOBS FUND INC

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

VITAL COMMUNITIES

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

WHITE MOUNTAIN SCIENCE INC

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

WOMEN'S INFORMATION SERVICE INC

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

NORTHERN FOREST CENTER INC

18 NORTH MAIN STREET SUITE 204
CONCORD,NH03301 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

AMERICA VOTES EDUCATION FUND

1155 CONNECTICUT AVE NW
WASHINGTON,DC200360000 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT FBO NEW HAMPSHIRE CAMPAIGN FOR VOTING RIGHTS 30,000

TINY SEED PROJECT INC

154 SILVER ROAD
EAST HARDWICK,VT05836 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT F/B/O NORTH COUNTRY ALLIANCE FOR BALANCED CHANGE 50,000

VERMONT COUNCIL ON RURAL DEVELOPMENT

9 BAILEY AVENUE
MONTPELIER,VT056011384 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 70,000

NEW HAMPSHIRE CHARITABLE FOUNDATION

37 PLEASANT STREET
CONCORD,NH033014005 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 750

HIP HOP THEATER FESTIVAL INC

215 EAST 99TH STREET
NEW YORK,NY10029 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 125,000

WILLING HANDS ENTERPRISES

198 CHURCH STREET
NORWICH,VT05055 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 50,000

NEW HAMPSHIRE PUBLIC RADIO INC

2 PILLSBURY STREET 6TH FLOOR
CONCORD,NH03301 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 70,000

MAINE PHILANTHROPY CENTER

15 CASCO STREET
PORTLAND,ME04101 		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 16,130
Total .................................right arrow 3a 3,318,880
bApproved for future payment
Total ................................. right arrow 3b 0
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 ........... 		         
4 Dividends and interest from securities .... 523000 2,666 14 1,175,765  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     01 815,660  
8 Gain or (loss) from sales of assets other than
inventory ............ 		523000 2,512 18 2,243,222  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aK-1 CLEAN GROWTH FUND IV 		523000   14    
bK-1 TA XIII-B, LP 523000   14    
cK-1 GQG PARTNERS GLOBAL EQUITY FD 523000   14    
dK-1 TUCKERBROOK SB GLOBAL 523000 -100 14    
eK-1 ACCOLADE PARTNERS VII 523000 -2,131 14 2,131  
fK-1 CLEAN GROWTH FUND V, LP 523000 -1,695 14 1,695  
gK-1 SUSTAINABLE ASSET FUND II, LP 523000 2,722 14 -2,722  
hK-1 BANCRO 2006 VENTURE FIND LLC 523000   14 20,494  
iK-1 CAPITAL DYNAMICS TRANSACTION PARTNERS 2021 LP 523000 -9,857 14    
jK-1 ACCOLADE PARTNERS VIII LP 523000 -1,794 14    
kK-1 ACCOLADE PARTNERS IX, LP 523000 -962 14    
lK-1 BASE10 ADVANCEMENT INITIATIVE II LP 523000   14    
mK-1 TA XIV-B, L.P. 523000   14    
nK-1 TRIDENT VIII, L.P. 523000   14    
12 Subtotal. Add columns (b), (d), and (e) .. -8,639 4,256,245 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
4,247,606
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 44,805 22,403   22,042

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

TY 2024 GainLossSaleOtherAssetsSch
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
K-1 CAPITAL DYNAMICS TRANS PTNRS 2021 LP   PURCHASED     2,511   COST 0 2,511  
K-1 CLEAN GROWTH FUND V, LP   PURCHASED       1 COST 0 -1  
K-1 XIV-B, LP   PURCHASED     36   COST 0 36  
K-1 XV-B, LP   PURCHASED       36 COST 0 -36  
K-1 XV-B, LP   PURCHASED       24 COST 0 -24  
K-1 ACCOLADE PARTNERS VII, LP   PURCHASED     2   COST 0 2  
K-1 XIV-B, LP   PURCHASED     24   COST 0 24  

TY 2024 InvestmentsCorpStockSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Name of Stock End of Year Book Value End of Year Fair Market Value
2,300 ABBOTT LABS 120,438 260,153
300 ADOBE SYS 158,384 133,404
1,900 ALPHABET INC CL A 81,082 359,670
1,500 AMAZON.COM 132,839 329,085
1,170 ANALOG DEVICES 92,079 248,578
1,300 APPLE INC 38,748 325,546
2,000 APTARGROUP 180,718 314,200
1,000 AUTOMATIC DATA PROCESSING 101,272 292,730
500 BECTON DICKINSON 116,477 113,435
1,700 CANADIAN NATL RAILWAY 110,337 172,567
1,100 DANAHER CORP 110,494 252,505
1,700 FISERV 99,994 349,214
750 HOME DEPOT 128,886 291,743
1,000 HONEYWELL INTL 180,009 225,890
1,200 JOHNSON & JOHNSON 166,891 173,544
700 MASTERCARD 78,432 368,599
800 MICROSOFT CORP 58,997 337,200
2,000 NESTLE SA ADR 172,308 163,400
3,000 NEXTERA ENERGY 210,643 215,070
3,900 NVIDIA CORP 13,236 523,731
1,400 PROCTER & GAMBLE 131,515 234,710
865 ROCKWELL AUTOMATION 140,523 247,208
2,600 TJX COS 150,491 314,106
450 UNITED HEALTH GROUP 140,559 227,637
600 WASTE MANAGEMENT INC 43,277 121,074
1,600 XYLEM INC 87,877 185,632
25,000 VANGUARD RUSSELL 1000 VALUE INDEX FUND ETF 1,740,898 2,031,250
102,164.76 ADVISERS INVT TR JOHCM INTL SL CL I 2,126,264 2,347,746
46,594.42 ARTISAN INTL VALUE INST 1,290,186 2,191,335
1,750 MEDTRONIC 167,227 139,790
1,398 ADVANCED MICRO DEVICES INC 48,201 168,864
125 ASML HOLDING NV 65,490 86,635
4,300 SCHNEIDER ELEC SA ADR 160,116 213,452
2,400 BALL CORP 147,770 132,312
1,700 MCCORMICK & CO. 129,942 129,608
255 VERTEX PHARMACEUTICALS 114,567 102,689
2,700 CARRIER GLOBAL 164,918 184,302
150 SALESFORCE.COM 42,632 50,150

TY 2024 InvestmentsOtherSchedule2
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ABDIEL QUALIFIED OFFSHORE PARTNERS LTD AT COST 886,362 1,097,365
ACCOLADE PARTNERS VII AT COST 844,068 1,423,922
ACCOLADE PARTNERS VIII AT COST 715,245 777,758
ASIA ALTERNATIVES CAPITAL PARTNERS INVESTORS, L.P. AT COST 41,058 66,126
ASIA ALTERNATIVES CAPITAL PARTNERS II, L.P. AT COST 98,593 73,272
AVESI PARTNERS FUND I, LP AT COST 220,100 357,323
BANCRO 2006 VENTURE CAPITAL FUND LLC AT COST 663,231 1,222,760
BASE 10 ADVANCEMENT INITIATIVE I LP AT COST 414,093 402,321
CAMBER CAPITAL OFFSHORE FUND LTD AT COST 1,668,312 2,013,585
CAPITAL DYNAMICS TRANSACTION PARTNERS 2021 LP AT COST 960,450 1,228,865
THE CHILDREN'S INVESTMENT FUND AT COST 5,158,899 4,360,744
CLEAN GROWTH FUND IV AT COST 24,105 152,255
CLEAN GROWTH FUND V AT COST 207,138 398,942
D1 CAPITAL PARTNERS OFFSHORE AT COST 1,856,796 2,298,241
DAVIDSON KEMPNER PARTNERS AT COST 2,804,231 2,732,207
GAOLING FEEDER LTD AT COST 1,532,159 751,170
GLOBAL RESOURCE OPTIMIZATION FUND, L.P. AT COST 2,129,772 2,377,154
GQG PARTNERS GLOBAL EQUITY FUND - GQG PARTNERS SERIES LLC AT COST 2,820,696 3,922,300
IR&M CORE BOND FUND AT COST 7,159,798 6,845,630
CLEAN ENERGY FUND, L.P. AT COST 2,116,096 2,538,940
LL MORTGAGE FUND AT COST 1,601,161 1,556,688
MATRIX CAPITAL MANAGMENT FUND OFFSHORE AT COST 1,291,570 1,143,307
NITORUM OFFSHORE FUND LP AT COST 669,970 403,782
OBVIOUS GROWTH I, L.P. AT COST 311,589 447,107
OBVIOUS PRIME II LP AT COST 323,696 253,628
THE OVERLOOK PARTNERS FUND LP AT COST 1,244,806 1,406,530
PARK PRESIDIO CAPITAL OFFSHORE FUND AT COST 1,500,000 2,420,819
POLUNIN DEVELOPING COUNTRIES FUND LLC AT COST 1,585,569 1,553,231
SILVER LAKE PARTNERS VI, L.P. AT COST 40,628 1,181,625
STEWART INVESTORS GEMLS FUND (DST) AT COST 1,250,537 1,224,043
SUSTAINABLE ASSET FUND III (US FEEDER), LP AT COST 729,528 778,445
SUSTAINABLE ASSET FUND II, LP AT COST 666,652 1,019,569
STRATEGIC INVESTORS FD IV, L.P. AT COST 276,123 708,864
TA XIII-B, L.P. AT COST 797,838 1,235,261
TA XIV-B, L.P. AT COST 909,545 933,945
TRIDENT VIII, L.P. AT COST 847,867 1,293,248
TUCKERBROOK SB GLOBAL DISTRESSED FUND I, LP AT COST 133,828 131,029
VALINOR CAPITAL PARTNERS OFFSHORE LTD AT COST 240,658 57,966
VARDE INVESTMENT PARTNERS OFFSHORE AT COST 1,143,637 1,275,847
WHITESPRUCE FUND LP AT COST 2,863,691 3,355,204
WYNNCHURCH CAPITAL PARTNERS V, LP AT COST 838,542 1,131,018
YIHENG CAPITAL OFFSHORE PARTNERS LTD AT COST 385,989 50,321
CAPITAL DYNAMICS CHAMPION VENTURES VI, L.P. AT COST 224,868 400,522
HRJ CAPITAL VC VI (INTERNATIONAL), L.P. AT COST 0 163,850
HRJ GLOBAL BUY-OUT III (EUROPE), L.P. AT COST 95,795 10,998
HRJ GLOBAL BUY-OUT III (U.S.), L.P. AT COST 0 39,903
SLP VI REGAL FEEDER I LP AT COST 50,490 0
BASE10 PARTNERS III, LP AT COST 219,733 239,014
OBVIOUS VENTURES IV, L.P. AT COST 251,577 221,312
GAOCHENG FEEDER FUND II LP AT COST 162,879 137,115
BASE10 ADVANCEMENT INITIATIVE II LP AT COST 185,669 96,534
ACCOLADE PARTNERS IX AT COST 134,011 146,317
SILVER LAKE PARTNERS VI CAYMAN (AIV II), L.P. AT COST 79,091 0
SLP VI ACE FEEDER I, LP AT COST 36,351 0
SLP VI GOLDFINGER FEEDER I, LP AT COST 24,766 0
WYNNCHURCH CAPITAL PARTNERS VI, LP AT COST 109,095 127,926
SILVER LAKE PARTNERS VII LP AT COST 202,083 235,779
SUSTAINABLE ASSET FUND IV, (US FEEDER), L.P. AT COST 12,432 0
SILVER LAKE PARTNERS VI DE (AIV V), L.P. AT COST 12,591 0

TY 2024 LegalFeesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 4,985 2,492   2,493


TY 2024 OtherDecreasesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Description Amount
SILVER LAKE PARTNERS - CAPITAL DISTR ON BOOKS GREATER THAN K-1'S 18,702
CLEAN GROWTH FUND V, LP - CAP DISTR PER K-1 GREATER THAN BOOKS 39,205
TA XIII-B, LP - CAP DISTR PER BOOKS GREATER THAN K-1 12,500
2023 NET PSHIP CAPITAL ACCOUNT CONTRIBUTIONS/WITHDRAWALS REVERSALS IN 2024 120,033


TY 2024 OtherExpensesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MISCELLANEOUS FEES 25 25   0
COMMONWEALTH OF MASSACHUSETTS - FILING FEE 500 0   500
MEMBERSHIP DUES - PHILANTHROPY 1,860 0   1,860
PORTFOLIO DEDUCTIONS - FROM K-1 DAVIDSON KEMPNER (13-3597020) 33,254 33,254   0
PORTFOLIO DEDUCTIONS - FROM K-1 STEWART INVESTORS (20-6762882) 1,966 1,966   0
PORTFOLIO DEDUCTIONS - FROM K-1 HRJ GLOBAL BUY-OUT III US 4,128 4,128   0
PORTFOLIO DEDUCTIONS - FROM K-1 STRATEGIC INVESTORS (26-2776097) 1,786 1,786   0
PORTFOLIO DEDUCTIONS - FROM K-1 ASIA ALTERNATIVES CAP II (26-1738262) 1,063 1,063   0
PORTFOLIO DEDUCTIONS - FROM K-1 HRJ CAPITAL VC VI INTL 5,191 5,191   0
PORTFOLIO DEDUCTIONS - FROM K-1 CAPITAL DYNAMICS CHAMPION VENTURES VI, LP 3,508 3,508   0
PORTFOLIO DEDUCTIONS - FROM K-1 LL MORTGAGE LP 14,753 14,753   0
PORTFOLIO DEDUCTIONS - FROM K-1 POLUNIN DEVELOPING 22,572 22,572   0
PORTFOLIO DEDUCTIONS - FROM K-1 CLEAN GROWTH FUND IV, LP 6,362 6,362   0
PORTFOLIO DEDUCTIONS - FROM K-1 GLOBAL RESOURCE OPTIMIZATION FD L.P. 28,007 28,007   0
PORTFOLIO DEDUCTIONS - FROM K-1 GQG PARTNERS GLOBAL EQUITY FD 18,905 18,905   0
PORTFOLIO DEDUCTIONS - FROM K-1 TUCKERBROOK SB GLOBAL 2,116 2,116   0
PORTFOLIO DEDUCTIONS - FROM K-1 ACCOLADE PARTNERS VII 29,268 29,268   0
PORTFOLIO DEDUCTIONS - FROM K-1 CLEAN GROWTH FUND V, LP 9,445 9,445   0
PORTFOLIO DEDUCTIONS - FROM K-1 SUSTAINABLE ASSET FUND II, LP 13,486 13,486   0
PORTFOLIO DEDUCTIONS - FROM K-1 WHITESPRUCE FUND LP 17,741 17,741   0
PORTFOLIO DEDUCTIONS - FROM K-1 TRIDENT VIII, L.P. 11,282 11,282   0
PORTFOLIO DEDUCTIONS - FROM K-1 WYNNCHURCH CAPITAL PARTNERS V, LP 12,775 12,775   0
PORTFOLIO DEDUCTIONS - FROM K-1 SILVER LAKE PARTNERS VI, LP 7,667 7,667   0
PORTFOLIO DEDUCTIONS - FROM K-1 ACCOLADE PARTNERS VIII, L.P. 29,311 29,311   0
PORTFOLIO DEDUCTIONS - FROM K-1 AACP INVESTORS, L.P. 1,047 1,047   0
PORTFOLIO DEDUCTIONS - FROM K-1 AVESI PARTNERS FUND I, LP. 3,686 3,686   0
PORTFOLIO DEDUCTIONS - FROM K-1 BANCRO 2006 VENTURE CAPITAL FUND LLC, L.P. 8,636 8,636   0
PORTFOLIO DEDUCTIONS - FROM K-1 BASE10 ADVANCEMENT INITIATIVE I LP 10,657 10,657   0
PORTFOLIO DEDUCTIONS - FROM K-1 CAPITAL DYNAMICS TRANSACTION PARTNERS 2021 L 27,825 27,285   0
PORTFOLIO DEDUCTIONS - FROM K-1 HRJ GLOBAL BUY-OUT III (EUROPE) LP 5,674 5,674   0
PORTFOLIO DEDUCTIONS - FROM K-1 OBVIOUS GROWTH I LP 8,812 8,812   0
PORTFOLIO DEDUCTIONS - FROM K-1 SUSTAINABLE ASSET FUND III (US FEEDER) LP 8,386 8,386   0
PORTFOLIO DEDUCTIONS - FROM K-1 TA XIV-B, LP 18,279 18,279   0
PORTFOLIO DEDUCTIONS - FROM K-1 PALMER SQUARE ULTRA-SHORT DURATION INVESTMEN 1,929 1,929   0
PORTFOLIO DEDUCTIONS - FROM K-1 OBVIOUS PRIME II, L.P. 5,399 5,399   0
PORTFOLIO DEDUCTIONS - FROM K-1 THE OVERLOOK PARTNERS FUND, L.P. 14,545 14,545   0
PORTFOLIO DEDUCTIONS - FROM K-1 OBVIOUS VENTURES IV, L.P. 10,400 10,400   0
PORTFOLIO DEDUCTIONS - FROM K-1 ACCOLADE PARTNERS IX, L.P. 13,413 13,413   0
PORTFOLIO DEDUCTIONS - FROM K-1 TA XIII-B, L.P. 15,490 15,490   0
PORTFOLIO DEDUCTIONS - FROM K-1 BASE10 PARTNERS III, L.P. 12,634 12,634   0
PORTFOLIO DEDUCTIONS - FROM K-1 BASE10 SERIES B I, L.P. 10,412 10,412   0
PORTFOLIO DEDUCTIONS - FROM K-1 CLEAN ENERGY FUND, L.P. 20,155 20,155   0
PORTFOLIO DEDUCTIONS - FROM K-1 SLP VI REGAL FEEDER I, LP 5 5   0
ADR FEES 320 320   0
PORTFOLIO DEDUCTIONS - FROM K-1 SILVER LAKE PARTNERS VI CAYMAN (AIV II), LP 120 120   0
PORTFOLIO DEDUCTIONS - FROM K-1 SLP VI ACE FEEDER I, LP 3 3   0
PORTFOLIO DEDUCTIONS - FROM K-1 SLP VI GOLDFINGER FEEDER I, LP 8 8   0
REISSUE OF A LOST CHECK - NATURE CONSERVANCY 100,000 100,000   0
REISSUE OF A LOST CHECK - MAINE INITIATIVES, INC. 50,000 50,000   0
PORTFOLIO DEDUCTIONS - FROM K-1 WYNNCHURCH CAPITAL PARTNERS VI, L.P. 16,125 16,125   0
PORTFOLIO DEDUCTIONS - FROM K-1 AVESI PARTNERS FUND II-A, L.P. 179 179   0
PORTFOLIO DEDUCTIONS - FROM K-1 SUSTAINABLE ASSET FUND IV (US FEEDER), L.P. 6,864 6,864   0
PORTFOLIO DEDUCTIONS - FROM K-1 TA XV-B, L.P. 8,154 8,154   0
PORTFOLIO DEDUCTIONS - FROM K-1 SILVER LAKE PARTNERS VI DE (AIV V), L.P. 1 1   0


TY 2024 OtherIncomeSchedule2
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
GLOBAL RESOURCE OPTIMIZATION FUND, L.P. -4,045 -4,045 -4,045
GQC PARTNERS GLOBAL EQUITY FUND -1,096 -1,096 -1,096
POLUNIN DEVELOPING COUNTRIES FUND, LLC -2,795 -2,795 -2,795
CLEAN ENERGY FUND, L.P. 823 823 823
DAVIDSON KEMPNER INST PTNRS L.P. 226,704 226,704 226,704
THE OVERLOOK PARTNERS FUND LP -550 -550 -550
TA XIII-B, L.P. 34 34 34
TA XIV-B, L.P. 4 4 4
CAP DYN TRANS PTNRS 2021 2,426 2,426 2,426
ASIA ALTERN CAPITAL PTNRS II LP 136 136 136
AACP INVESTORS, L.P. -584 -584 -584
ACCOLADE PTNRS VIII LP 325 325 325
HRJ CAPITAL VC VI (INTERNATIONSL) LP -49 -49 -49
CAPITAL DYNAMICS CHAMPION VENTURES VI, LP 161 161 161
ACCOLADE PTNRS VII LP -2,085 -2,085 -2,085
BANCRO 2006 VENTURE CAPITAL FUND LLC 121 121 121
CLEAN GROWTH FUND IV LP 258 258 258
CLEAN GROWTH FUND V LP -70 -70 -70
STEWART INVESTORS GEMSL FUND (DST) 511 511 511
STRATEGIC INVESTORS FUND IV, L.P. -21 -21 -21
TUCKERBROOK SB GLOBAL DISTRESSED FUND I, LP 158 158 158
IR&M CORE BOND FUND LLC 1,209 1,209 1,209
ACCOLADE PTNRS IX, LP 1 1 1
SILVER LAKE PARTNERS VI CAYMAN (AIV II), LP 134 134 134
SUSTAINABLE ASSET FUND II, LP 13,878 13,878 13,878
WHITESPRUCE FUND LP 76 76 76
LL MORTGAGE FUND LP -228 -228 -228
MATRIX CAP MGMT FUND, LTD 580,224 580,224 580,224
K-1 TUCKERBROOK SB GLOBAL -100 0 -100
K-1 BANCRO 2006 VENTURE FIND LLC 20,494 20,494 20,494
K-1 CAPITAL DYNAMICS TRANSACTION PARTNERS 2021 LP -9,857 0 -9,857
K-1 ACCOLADE PARTNERS VIII LP -1,794 0 -1,794
K-1 ACCOLADE PARTNERS IX, LP -962 0 -962


TY 2024 OtherIncreasesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Description Amount
STEWART INVESTORS GEMLS FUND (DST) - CAPITAL DISTR ON BOOKS GREATER THAN K-1 3
SILVER LAKE PARTNERS - CAPITAL CONTR ON BOOKS GREATER THAN K-1'S 26,579
ASIA ALTERNATIVES CAP PARTNERS II, LP - CAP DISTR PER K-1 GREATER THAN BOOKS 5,444
TRIDENT CAPITAL VIII LP - CAPITAL DISTR PER K-1 GREATER THAN BOOKS 11,842
CLEAN GROWTH FUND IV, LP - CAP DISTR PER K-1 GREATER THAN BOOKS 4,400
STRATEGIC INVESTORS FUND IV, LP - CAP DISTRIB. PER K-1 GREATER THAN BOOKS 104,493
HRJ CAPITAL VC VI (INTERNATIONAL) LP CAP DISTR PER K-1 GREATER THAN BOOKS 32,582
HRJ GLOBAL BUY-OUT III (US), LP - CAP DISTR PER BOOKS LESS THAN K-1 4,841
POLUNIN DEVELOPING COUNTRIES FD LLC - OTHER INCREASES DILUTION LEVY 351
TA XV-B, L.P. - NEGATIVE BASIS ADJUSTMENT ON BALANCE SHEET 10,414
HRJ CAP VC VI (INT'L) LP - NEGATIVE BASIS ADJUSTMENT ON BALANCE SHEET 8,432
HRJ GLOBAL BUYOUT III (US) LP - NEGATIVE BASIS ADJUSTMENT ON BALANCE SHEET 19,009
AVESI PARTNERS FUND II-A LP - NEGATIVE BASIS ADJUSTMENT ON BALANCE SHEET 281
SUSTAINABLE ASSET FUND IV (US FEEDER) LP - PSHIP CAP CON ON K-1 NOT ON BOOKS 19,656


TY 2024 OtherProfessionalFeesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 209,805 209,085   0


TY 2024 TaxesSchedule
Name:
JANE'S TRUST FOUNDATION
EIN:
27-3422536
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES WITHHELD 45,407 45,407   0