TY 2024 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go 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
FOLEY FAMILY IRREVOCABLE TRUST FBO SCHOLARS

Number and street (or P.O. box number if mail is not delivered to street address)38 RESNIK ROAD SUITE 202
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
PLYMOUTH, MA02360

A Employer identification number

20-7418520

B Telephone number (see instructions)

(508) 591-6204

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$1,168,319J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	44,333		43,861
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-3,902
b	Gross sales price for all assets on line 6a 360,591
7	Capital gain net income (from Part IV, line 2)...			0
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	40,431		43,861
13	Compensation of officers, directors, trustees, etc.	14,657		11,725		2,931
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	795	636	0	159
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	665	321		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	35	28		7
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	16,152		12,710	0	3,097
25	Contributions, gifts, grants paid.......	57,423				57,423
26	Total expenses and disbursements. Add lines 24 and 25	73,575		12,710	0	60,520
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-33,144
b	Net investment income (if negative, enter -0-)			31,151
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	81,362	50,575	50,575
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	452,362	List of Attached Documents: // Content 363,896	473,207
	c	Investments—corporate bonds (attach schedule).......	505,492	List of Attached Documents: // Content 537,523	539,556
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	37,969	List of Attached Documents: // Content 92,260	104,981
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,077,185	1,044,254	1,168,319
	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 )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	1,077,185	1,044,254
	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).....	1,077,185	1,044,254
	30	Total liabilities and net assets/fund balances (see instructions).	1,077,185	1,044,254

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

1,077,185

Enter amount from Part I, line 27a .....................

-33,144

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

1,525

Add lines 1, 2, and 3 ..........................

1,045,566

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

1,312

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

1,044,254

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	50000. ALTRIA GROUP INC 4.0000% 01/31/24		2022-10-04	2024-01-31
b	50000. ALTRIA GROUP INC 4.0000% 01/31/24		2022-10-04	2024-01-31
c	.75 SOLVENTUM CORP		2021-06-28	2024-04-08
d	3. SOLVENTUM CORP		2021-06-28	2024-04-26
e	30. COCA COLA		2008-12-10	2024-05-16
	30. COCA COLA		2008-12-10	2024-05-16
	10. QUALCOMM INC		2017-11-01	2024-05-16
	10. QUALCOMM INC		2017-05-02	2024-05-16
	50000. GOLDMAN SACHS GROUP INC 3.8500% 07/08/24		2022-10-04	2024-07-08
	50000. GOLDMAN SACHS GROUP INC 3.8500% 07/08/24		2022-10-04	2024-07-08
	25000. WELLS FARGO & CO 3.3000% 09/09/24		2022-10-12	2024-09-09
	35000. WELLS FARGO & CO 3.3000% 09/09/24		2022-10-12	2024-09-09
	25000. SIMON PROPERTY GROUP LP 3.3750% 10/01/24		2022-07-27	2024-10-01
	210.881 EUROPACIFIC GROWTH FUND - CLASS F2		2021-06-29	2024-11-08
	5. HOME DEPOT INC		2021-06-28	2024-11-08
	5. MCDONALDS CORP		2016-11-10	2024-11-08
	82.364 AMERICAN FUNDS NEW WORLD CL F-2		2021-06-29	2024-11-08
	5. TARGET CORP.		2016-11-10	2024-11-08
	148.013 VANGUARD INTERNATIONAL GROWTH ADM			2024-11-08
	25. WAL MART STORES INC		2021-06-28	2024-11-08
	270.306 EUROPACIFIC GROWTH FUND - CLASS F2		2021-02-12	2024-12-03
	52.154 AMERICAN FUNDS NEW WORLD CL F-2		2021-02-12	2024-12-03
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	50,000	49,600	400
b	50,000	49,600	400
c	49	93	-44
d	192	373	-181
e	1,899	679	1,220
	1,899	679	1,220
	1,937	520	1,417
	1,937	516	1,421
	50,000	49,275	725
	50,000	49,275	725
	25,000	24,173	827
	35,000	33,842	1,158
	25,000	24,983	17
	12,294	15,000	-2,706
	2,028	1,569	459
	1,496	573	923
	6,848	8,000	-1,152
	751	357	394
	16,996	25,000	-8,004
	2,124	1,151	973
	15,880	20,000	-4,120
	4,271	5,000	-729
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990
			4,990

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			400
b			400
c			-44
d			-181
e			1,220
			1,220
			1,417
			1,421
			725
			725
			827
			1,158
			17
			-2,706
			459
			923
			-1,152
			394
			-8,004
			973
			-4,120
			-729

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-3,902
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 ...................		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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	433
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	433
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	433
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	275
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	275
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	158
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax0	Refunded	11	0

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

The books are in care of right arrow

PLIMOTH TRUST COMPANY LLC Telephone no. right arrow

(508) 591-6204

Located at right arrow

38 RESNIK ROAD SUITE 202PLYMOUTHMA ZIP+4 right arrow

02360

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

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)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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? .............

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)):

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?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

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.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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? ..

Form 990-PF (2024)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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
PLIMOTH INVESTMENT ADVISORS	TRUSTEE 1	14,657
38 RESNIK ROAD SUITE 202 PLYMOUTH,MA02360	TRUSTEE 1	14,657

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...................				0

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 arrow

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... right arrow

Form 990-PF (2024)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

1,093,818

Average of monthly cash balances.......................

81,142

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

1,174,960

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

1,174,960

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

17,624

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

1,157,336

Minimum investment return. Enter 5% (0.05) of line 5................

57,867

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.)

Minimum investment return from Part IX, line 6..................

57,867

Tax on investment income for 2024 from Part V, line 5 .......

433

Income tax for 2024. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

433

Distributable amount before adjustments. Subtract line 2c from line 1............

57,434

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

57,434

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

57,434

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

60,520

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

60,520

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					57,434
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2024:
a From 2019......	0
b From 2020......	15,963
c From 2021......	11,822
d From 2022......	12,028
e From 2023......	4,088
f Total of lines 3a through e ........		43,901
4Qualifying distributions for 2024 from Part
XI, line 4: $ 60,520
a Applied to 2023, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2024 distributable amount.....					57,434
e Remaining amount distributed out of corpus		3,086
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		46,987
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2023. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2024. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2025 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2019 not applied on line 5 or line 7 (see instructions) ...		0
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......		46,987
10 Analysis of line 9:
a Excess from 2020....	15,963
b Excess from 2021....	11,822
c Excess from 2022....	12,028
d Excess from 2023....	4,088
e Excess from 2024....	3,086

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 4942(j)(3) or4942(j)(5)

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	(e) Total

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 e-mail address of the person to whom applications should be addressed:

TERESA PRUE
38 RESNIK ROAD STE 202
PLYMOUTH,MA02360
(508) 591-6204

bThe form in which applications should be submitted and information and materials they should include:

ONLINE

cAny submission deadlines:

MAY 31ST EACH YEAR

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

FINANCIAL AID NEED

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
MAB COMMUNITY SERVICE INC ATTN JOHN SALVATI 200 IVY STREET BROOKLINE,MA02446	NONE	PC	CHARITABLE USE	10,466
FALL RIVER HISTORICAL SOCIETY 451 ROCK STREET FALL RIVER,MA02720	NONE	PC	CHARITABLE USE	10,466
FALL RIVER PUBLIC LIBRARY ATTN PAULA COSTA CULLEN ADMIN 104 NORTH MAIN STREET FALL RIVER,MA02720	NONE	PC	CHARITABLE USE	10,466
Foley Family Trust fbo Scholarships C/O CITIZENSUNION SAVINGS BANK Fall River,MA02722	NONE	PC	SCHOLARSHIPS	26,025
Total ................................. 3a				57,423

bApproved for future payment

Total ................................. 3b

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	(e) Related or exempt function income (See instructions.)
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 ....			14	44,333
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18	-3,902
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				40,431

13Total. Add line 12, columns (b), (d), and (e)..................

40,431

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2024 AccountingFeesSchedule

Name:

FOLEY FAMILY IRREVOCABLE TRUST FBO SCHOLARS

EIN:

20-7418520

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	795	636		159

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

FOLEY FAMILY IRREVOCABLE TRUST FBO SCHOLARS

EIN:

20-7418520

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ALTRIA GROUP INC	45,121	45,897
CAPITAL ONE FINL CORP	19,589	19,996
HP INC	23,500	24,690
NEXTERA ENERGY CAP HLDGS INC	25,237	24,965
ORACLE CORP	23,351	24,856
PHILIP MORRIS INTL INC	24,833	25,016
SMUCKER JM CO	22,459	22,073
STARBUCKS CORP	24,209	24,113
VANGUARD SHORT-TERM INVMT GRAD	81,182	77,092
PUTNAM ULTRA SHORT DURATION IN	10,000	10,000
3M COMPANY	26,242	26,038
ALTRIA GROUP INC	45,121	45,897
AMERICAN EXPRESS CO	23,897	24,259
CIGNA GROUP	23,094	23,973
HP INC	23,500	24,690
NUCOR CORP	24,687	24,799
PHILIP MORRIS INTL INC	24,833	25,016
SMUCKER JM CO	22,459	22,073
STARBUCKS CORP	24,209	24,113

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

FOLEY FAMILY IRREVOCABLE TRUST FBO SCHOLARS

EIN:

20-7418520

Name of Stock	End of Year Book Value	End of Year Fair Market Value
HOME DEPOT INC	743	7,780
MCDONALD'S CORP	5,357	7,247
STARBUCKS CORPORATION	2,639	2,281
TJX COMPANIES INC	2,247	3,020
PEPSICO INC	642	1,521
PROCTER & GAMBLE CO	1,259	3,353
TARGET CORP	3,385	4,731
WAL-MART STORES INC	4,321	8,132
CHEVRON CORP COM	3,175	7,242
BANK OF AMERICA CORPORATION	4,942	6,593
CHUBB LTD	3,322	5,526
JPMORGAN CHASE & COMPANY	1,182	8,390
PRINCIPAL FINANCIAL GROUP INC	812	1,161
T ROWE PRICE GROUP INC	4,083	2,827
US BANCORP DEL COM	1,893	1,913
ABBVIE INC	2,098	7,108
CVS HEALTH CORP	2,301	1,796
JOHNSON & JOHNSON	1,948	4,339
MERCK & CO INC	1,620	4,974
DEERE & CO	5,762	6,356
LOCKHEED MARTIN CORPORATION	1,701	2,430
RTX CORPORATION	1,138	3,472
UNITED PARCEL SERVICE	1,051	1,261
APPLE INC	8,087	15,025
APPLIED MATERIALS INC	4,549	6,505
CISCO SYSTEMS INC	2,599	4,440
INTEL CORP	1,647	1,604
MICROSOFT CORP	834	12,645
ORACLE CORP	2,504	6,666
QUALCOMM INC	2,080	6,145
INTERNATIONAL PAPER	1,268	2,691
AT&T INC COM	2,964	4,099
COMCAST CORPORATION CLASS A	7,954	5,630
VERIZON COMMUNICATIONS INC	5,784	6,998
DUKE ENERGY CORP	2,270	2,694
NEXTERA ENERGY INC	2,100	1,792
MEDTRONIC HLDG LTD	5,939	3,994
EATON CORP PLC	3,560	4,978
ACCENTURE PLC CLASS A	2,593	3,518
T ROWE PRICE MID-CAP GROWTH FU	10,000	8,250
PRINCIPAL FDS SMALLCAP S & P 6	5,000	4,108
MFS INTERNATIONAL DIVERSIFICAT	40,000	37,397
VANGUARD INTERNATIONAL GROWTH	25,000	15,326
HOME DEPOT INC	3,138	3,890
MCDONALD'S CORP	1,145	2,899
STARBUCKS CORPORATION	2,245	1,825
TJX COMPANIES INC	3,146	4,228
PEPSICO INC	1,470	1,521
PROCTER & GAMBLE CO	944	2,515
TARGET CORP	1,305	2,704
WAL-MART STORES INC	2,302	4,518
CHEVRON CORP COM	1,905	4,345
EXXON MOBIL CORPORATION	4,847	4,303
BANK OF AMERICA CORPORATION	4,151	4,395
CHUBB LTD	1,587	2,763
JPMORGAN CHASE & COMPANY	1,013	7,191
PRINCIPAL FINANCIAL GROUP INC	869	1,161
T ROWE PRICE GROUP INC	2,957	1,696
US BANCORP DEL COM	1,723	1,435
ABBOTT LABORATORIES	2,322	2,262
ABBVIE INC	1,574	5,331
CVS HEALTH CORP	2,301	1,796
JOHNSON & JOHNSON	1,623	3,616
STRYKER CORP	3,759	3,601
3M COMPANY	2,479	1,936
HONEYWELL INTERNATIONAL INC	2,168	2,259
LOCKHEED MARTIN CORPORATION	1,898	2,430
RTX CORPORATION	2,552	3,472
UNION PACIFIC CORP	2,189	2,280
UNITED PARCEL SERVICE	2,051	1,261
APPLE INC	6,744	12,521
APPLIED MATERIALS INC	2,113	2,439
CISCO SYSTEMS INC	1,562	2,960
INTEL CORP	2,347	2,105
INTERNATIONAL BUSINESS MACHINE	1,597	4,397
MICROSOFT CORP	695	10,538
ORACLE CORP	1,964	4,166
QUALCOMM INC	1,032	3,072
INTERNATIONAL PAPER	2,399	2,960
LINDE PLC	4,096	4,187
ALPHABET INC CLASS A	7,150	7,572
AT&T INC COM	4,528	6,262
COMCAST CORPORATION CLASS A	6,462	4,316
VERIZON COMMUNICATIONS INC	4,784	5,799
DUKE ENERGY CORP	1,879	2,694
NEXTERA ENERGY INC	2,248	2,151
MEDTRONIC HLDG LTD	4,949	3,195
ACCENTURE PLC CLASS A	2,936	3,518
T ROWE PRICE MID-CAP GROWTH FU	12,000	9,600
PRINCIPAL FDS SMALLCAP S & P 6	6,000	4,659
MFS INTERNATIONAL DIVERSIFICAT	30,000	27,910
INTERNATIONAL BUSINESS MACHINE	2,395	6,595

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

FOLEY FAMILY IRREVOCABLE TRUST FBO SCHOLARS

EIN:

20-7418520

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
GLOBAL X US PREFERRED ETF	AT COST	14,350	10,731
INVESCO II PFD-ETF	AT COST	13,418	11,530
VANGUARD REAL ESTATE-ETF	AT COST	16,551	26,724
BANK OF AMERICA PREF SERIES KK	AT COST	4,960	4,856
JPMORGAN CHASE & CO 4.20% SERI	AT COST	4,943	4,849
INVESCO II PFD-ETF	AT COST	17,136	14,701
DIGITAL REALTY TRUST INC	AT COST	5,299	7,093
VANGUARD REAL ESTATE-ETF	AT COST	15,603	24,497

- TIN:

TY 2024 OtherDecreasesSchedule

Name:

FOLEY FAMILY IRREVOCABLE TRUST FBO SCHOLARS

EIN:

20-7418520

Description	Amount
POST YEAR TRANSACTIONS (-)	614
RETURN OF CAPITAL ADJUSTMENT	698

- TIN:

TY 2024 OtherExpensesSchedule

Name:

FOLEY FAMILY IRREVOCABLE TRUST FBO SCHOLARS

EIN:

20-7418520

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
OTHER ALLOCABLE EXPENSE-PRINCI	35	28		7

- TIN:

TY 2024 OtherIncreasesSchedule

Name:

FOLEY FAMILY IRREVOCABLE TRUST FBO SCHOLARS

EIN:

20-7418520

Description	Amount
COST BASIS ADJUSTMENT	725
PRIOR YEAR TRANSACTIONS ()	800

- TIN:

TY 2024 TaxesSchedule

Name:

FOLEY FAMILY IRREVOCABLE TRUST FBO SCHOLARS

EIN:

20-7418520

Category	Amount	Net Investment Income
FOREIGN TAXES	103	103
FEDERAL TAX PAYMENT - PRIOR YE	69	0
FEDERAL ESTIMATES - PRINCIPAL	275	0
FOREIGN TAXES ON QUALIFIED FOR	193	193
FOREIGN TAXES ON NONQUALIFIED	25	25