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.
Go to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25
Name of foundation
GEORGE R WALLACE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) GOODWIN 100 NORTHERN AVENUE
  Room/suite
City or town
BOSTON
State or province
MA
Country  
ZIP or foreign postal code
02210
A Employer identification number

04-6130518
B Telephone number (see instructions)

C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$10,144,608J 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 .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 146,835 146,158  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 633,922
b Gross sales price for all assets on line 6a 2,096,361
7 Capital gain net income (from Part IV, line 2)... 633,922
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........ 780,757 780,080  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 65,000 29,250   35,750
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
38,013 38,013   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
15,443     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)....... Click to see attachment
List of Attached Documents:
// Content
160 90   70
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 118,616 67,353 0 35,820
25 Contributions, gifts, grants paid....... 318,000 318,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 436,616 67,353 0 353,820
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 344,141
b Net investment income (if negative, enter -0-) 712,727
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
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......... 103,987 362,075 362,075
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) 687,301 Click to see attachment
List of Attached Documents:
// Content
1,047,602 		1,057,539
b Investments—corporate stock (attach schedule)....... 4,530,004 Click to see attachment
List of Attached Documents:
// Content
4,053,461 		7,541,490
c Investments—corporate bonds (attach schedule)....... 947,076 Click to see attachment
List of Attached Documents:
// Content
1,164,193 		1,183,504
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........     0
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) 6,268,368 6,627,331 10,144,608
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 )    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances 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........ 6,268,368 6,627,331
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)..... 6,268,368 6,627,331
30 Total liabilities and net assets/fund balances (see instructions). 6,268,368 6,627,331
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
6,268,368
2
Enter amount from Part I, line 27a .....................
2
344,141
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
15,578
4
Add lines 1, 2, and 3 ..........................
4
6,628,087
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
756
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
6,627,331
Form 990-PF (2025)
Form 990-PF (2025)
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 35. INTUITIVE SURGICAL INC   2024-01-30 2025-01-23
b 12000. MERCK & CO. INC.   1982-10-07 2025-02-11
c 235. INTUIT INC   2020-10-07 2025-02-13
d 450. SHERWIN-WILLIAMS CO   2022-10-05 2025-02-21
e 65000. EXXON MOBIL CORP NOTE 2.70900% 03/06/202   2022-05-13 2025-03-06
102. ALPHABET INC-CL C   2018-05-23 2025-04-17
96. AMAZON.COM INC   2018-05-23 2025-04-17
64. AMGEN INC   2024-05-24 2025-04-17
275. AMPHENOL CORP CLASS A COM   2022-05-05 2025-04-17
175. APPLE INC   2016-05-31 2025-04-17
400. BAKER HUGHES COMPANY CL A   2024-11-26 2025-04-17
3. BOOKING HOLDINGS INC COM   2022-05-31 2025-04-17
175. BOSTON SCIENTIFIC CORP   2023-11-30 2025-04-17
65. BROADRIDGE FINANCIAL SOLUTION   2022-05-05 2025-04-17
65. CME GROUP INC COM   2022-05-31 2025-04-17
100. CINTAS CORP   2022-05-31 2025-04-17
15. COSTCO WHOLESALE CORP COM   2022-10-05 2025-04-17
1275. EOG RESOURCES INC   2023-04-19 2025-04-17
35. META PLATFORMS INC CLASS A COMMON STOCK   2023-10-23 2025-04-17
30. GOLDMAN SACHS GROUP INC COM   2022-08-19 2025-04-17
275. HALOZYME THERAPEUTICS INC   2023-04-19 2025-04-17
125. HOWMET AEROPASCE INC   2024-07-25 2025-04-17
70. INTERNATIONAL BUSINES MACH CORP COM   2024-09-17 2025-04-17
75. JPMORGAN CHASE & CO   2022-05-12 2025-04-17
35. MARTIN MARIETTA MATERIALS INC COM   2022-05-05 2025-04-17
45. MASTERCARD INC - A   2018-05-23 2025-04-17
50. MCDONALD'S CORP   2022-10-05 2025-04-17
100. MICROSOFT CORP   2018-05-23 2025-04-17
20. NETFLIX INC   2024-07-25 2025-04-17
200. NVIDIA CORP   2022-08-19 2025-04-17
15. OREILLY AUTOMOTIVE INC COM   2023-11-30 2025-04-17
25. PARKER-HANNIFIN CORP COM   2024-05-24 2025-04-17
110. PEPSICO INC   2004-09-13 2025-04-17
175. SHOPIFY INC CL A   2024-11-26 2025-04-17
225. SOUTHERN CO/THE   2003-07-28 2025-04-17
40. STRYKER CORP   2019-12-06 2025-04-17
125. TJX COMPANIES INC   2024-07-25 2025-04-17
225. TJX COMPANIES INC   2025-02-21 2025-04-17
325. TRACTOR SUPPLY CO   2022-08-19 2025-04-17
275. WILLIAMS COS INC COM, WMB   2025-02-21 2025-04-17
60. EATON CORPORATION PLC   2024-01-30 2025-04-17
35. LINDE PLC   2023-02-16 2025-04-17
840. PEPSICO INC   2007-09-13 2025-05-07
65000. CATERPILLAR INC   2022-05-13 2025-05-13
60000. GOLDMAN SACHS GROUP INC NOTE 3.75000%   2022-05-27 2025-05-22
100000. UNITED STATES TREAS SER F-2025 2.25000%   2022-05-13 2025-11-17
600. AMPHENOL CORP CLASS A COM   2022-05-05 2025-11-25
35. BOOKING HOLDINGS INC COM   2022-08-19 2025-11-25
135. SYNOPSYS INC   2023-11-30 2025-11-25
16000. VERIZON COMMUNICATIONS INC 4.12500%   2022-05-13 2025-12-17
65000. JPMORGAN CHASE &CO NOTE 3.12500% 01/23/2,   2022-05-13 2025-12-31
100000. UNITED STATES TREAS SER G-2025 2.50000%   2022-05-13 2025-12-31
(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 17,053   13,284 3,769
b 103,521   2,415 101,106
c 137,213   73,364 63,849
d 156,777   117,923 38,854
e 65,000   64,300 700
15,687   5,445 10,242
16,649   7,577 9,072
17,746   19,633 -1,887
17,998   9,779 8,219
34,679   4,356 30,323
15,746   17,306 -1,560
13,771   6,781 6,990
16,789   9,686 7,103
15,514   9,292 6,222
17,174   12,977 4,197
20,714   9,961 10,753
14,882   7,212 7,670
143,293   152,065 -8,772
17,569   10,970 6,599
15,421   10,505 4,916
16,197   9,702 6,495
15,630   10,408 5,222
16,904   14,946 1,958
17,516   8,711 8,805
17,435   12,410 5,025
23,402   8,606 14,796
15,587   11,947 3,640
37,145   9,760 27,385
19,652   12,936 6,716
20,315   3,607 16,708
20,969   14,586 6,383
14,247   13,250 997
15,712   7,721 7,991
14,772   19,542 -4,770
20,879   6,489 14,390
14,018   8,176 5,842
15,901   14,066 1,835
16,993   17,869 -876
16,363   13,147 3,216
16,399   16,146 253
16,240   15,021 1,219
15,885   11,382 4,503
111,011   58,960 52,051
65,000   65,000  
60,000   60,000  
100,000   98,047 1,953
81,384   21,336 60,048
172,460   77,885 94,575
54,095   72,255 -18,160
16,054   16,044 10
65,000   64,549 451
100,000   99,301 699
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       3,769
b       101,106
c       63,849
d       38,854
e       700
      10,242
      9,072
      -1,887
      8,219
      30,323
      -1,560
      6,990
      7,103
      6,222
      4,197
      10,753
      7,670
      -8,772
      6,599
      4,916
      6,495
      5,222
      1,958
      8,805
      5,025
      14,796
      3,640
      27,385
      6,716
      16,708
      6,383
      997
      7,991
      -4,770
      14,390
      5,842
      1,835
      -876
      3,216
      253
      1,219
      4,503
      52,051
       
       
      1,953
      60,048
      94,575
      -18,160
      10
      451
      699
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 2 633,922
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 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 9,907
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 9,907
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 9,907
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 10,248
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 10,248
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10 341
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax341 Refunded 11 0
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
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. $   (2) On foundation managers.$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$  
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)
MA
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 2025 or the taxable year beginning in 2025? 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 address  
14
The books are in care ofGOODWIN PROCTER LLP Telephone no. (617) 570-1355

Located at100 NORTHERN AVENUEBOSTONMA ZIP+402210
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, 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
Form 990-PF (2025)
Form 990-PF (2025)
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 ........
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 2025? .............
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 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 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.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 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 Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
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 .........
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
REGINA M PISA TRUSTEE
1 		25,000    
100 NORTHERN AVEN
BOSTON,MA02210
MARTIN F CONNORS JR TRUSTEE
5 		20,000    
170 JAMESTOWN ROAD
LEOMINSTER,MA01453
ANDRE GELINAS TRUSTEE
5 		20,000    
100 NORTHERN AVEN
BOSTON,MA02210
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 (2025)
Form 990-PF (2025)
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 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
Form 990-PF (2025)
Form 990-PF (2025)
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
9,478,985
b
Average of monthly cash balances.......................
1b
248,120
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
9,727,105
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
9,727,105
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
145,907
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
9,581,198
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
479,060
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
479,060
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
9,907
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
9,907
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
469,153
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
469,153
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
469,153
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, line 26, column (d) ..........
1a
353,820
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
353,820
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 469,153
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 112,894
b From 2021...... 129,063
c From 2022...... 245,397
d From 2023...... 179,687
e From 2024...... 156,468
f Total of lines 3a through e ........ 823,509
4Qualifying distributions for 2025 from Part
XI, line 4: $ 353,820
a Applied to 2024, 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 2025 distributable amount..... 353,820
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2025. 115,333 115,333
(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 5 708,176
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 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		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 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		708,176
10 Analysis of line 9:
a Excess from 2021 .... 126,624
b Excess from 2022 .... 245,397
c Excess from 2023 .... 179,687
d Excess from 2024 .... 156,468
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
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 2025, enter the date of the ruling ......
 
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) 2025 (b) 2024 (c) 2023 (d) 2022
         
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, 3b, or 3c 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 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, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
LUCIA B THOMPSON
GOODWIN PROCTER 100 NORTHERN AVENUE
BOSTON,MA02210
(617) 570-1355
LTHOMPSON@GOODWINLAW.COM
bThe form in which applications should be submitted and information and materials they should include:
NO SET FORM FOR APPLICATION. APPLICATION SHOULD CONTAIN A CONCISE STATEMENT OF THE PURPOSE FOR WHICH THE GRANT IS SOUGHT. IF POSSIBLE, ALL MATERIALS SHOULD BE SUBMITTED ELEC
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
Form 990-PF (2025)
Form 990-PF (2025)
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

CLEAR PATH FOR VETERANS NEW ENGLAND

84 ANTIETAM STREET
DEVENS,MA01434 		NONE   GENERAL SUPPORT 10,000

HABITAT FOR HUMANITY

201 GREAR RD STE 301
Acton,MA01720 		NONE   GENERAL SUPPORT 10,000

NORTHSTAR FAMILY SERVICES INC

758 MAIN STREET
LEOMINSTER,MA01453 		NONE   GENERAL SUPPORT 60,000

UMASS MEMORIAL HEALTH

100 FRONT ST STE 200
WORCESTER,MA01608 		NONE   GENERAL SUPPORT 10,000

Easterseals of Massachusetts

484 MAIN STREET
WORCESTER,MA01608 		NONE   GENERAL SUPPORT 15,000

VIRGINIA THURSTON'S HEALING GARDEN

145 BOLTON ROAD
HARVARD,MA01451 		NONE   GENERAL SUPPORT 5,000

FITCHBURG PUBLIC LIBRARY

649 JOHN FITCH HIGHWAY
FITCHBURG,MA01420 		NONE   GENERAL SUPPORT 20,000

CAPE SYMPHONY

2235 IYANNOUGH ROAD
WEST BARNSTABLE,MA02668 		NONE   GENERAL SUPPORT 7,500

APPLE WILD SCHOOL

120 PROSPECT STREET
FITCHBURG,MA01420 		NONE   GENERAL SUPPORT 25,000

FITCHBURG STATE UNIVERSITY

160 PEARL STREET
FITCHBURG,MA01420 		NONE   GENERAL SUPPORT 8,000

YMCA OF CENTRAL MASSACHUSETTS

1 SALEM SQUARE
WORCESTER,MA01608 		NONE   GENERAL SUPPORT 50,000

GROTON HILL MUSIC

122 OLD AYER ROAD
GROTON,MA01450 		NONE   GENERAL SUPPORT 10,000

ST BERNARD'S HIGH SCHOOL

45 HARVARD STREET
FITCHBURG,MA01420 		NONE   GENERAL SUPPORT 10,000

THE SALVATION ARMY

25 SHAWMUT ROAD
CANTON,MA02021 		NONE   GENERAL SUPPORT 25,000

Boys and Girls Club

365 LINDELL AVENUE
Leominster,MA01453 		NONE   GENERAL PURPOSE 5,000

Mount Wachusett Community College

444 GREEN STREET
Gardner,MA01440 		NONE   GENERAL PURPOSE 15,000

Rise Above

PO BOX 174
Northbridge,MA01534 		NONE   GENERAL PURPOSE 5,000

St Bernard's Elementary School

254 SUMMER STREET
Fitchburg,MA01420 		NONE   GENERAL PURPOSE 25,000

Up With Books

2 SHAKER ROAD SUITE B007
Shirley,MA01464 		NONE   GENERAL PURPOSE 2,500
Total ................................. 3a 318,000
bApproved for future payment
Total ................................. 3b  
Form 990-PF (2025)
Form 990-PF (2025)
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 ....     14 146,835  
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 ............ 		    18 633,922  
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) ..   780,757  
13Total. Add line 12, columns (b), (d), and (e)..................
13
780,757
(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 (2025)
Form 990-PF (2025)
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.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only 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 (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 InvestmentsCorpBondsSchedule
Name:
GEORGE R WALLACE FOUNDATION
EIN:
04-6130518
Name of Bond End of Year Book Value End of Year Fair Market Value
JP MORGAN CHASE & CO 01/23/25 65,320 67,933
EXXON MOBIL CORP 03/06825    
CATERPILLAR FINL SVCS MTNS BE    
GOLDMAN SACHS GROUP INC 05/22/    
LOWES COS INC 04/15/26 58,166 59,756
WELLS FARGO & CO 04/22/26 57,812 59,834
TOYOTA MTR CR CORP SER B 01/11 58,918 59,620
VERIZON COMMUNICATIONS INC 03/ 44,117 44,105
GENERAL DYNAMICS CORP NOTE 05/ 59,860 60,098
COMCAST CORP 10/15/28 60,196 60,323
BANK OF AMERICA CORP SER B 12/ 57,855 59,245
INTEL CORP 11/15/29 54,114 55,991
UNITED HEALTH GROUP INC 54,025 54,109
BERKSHIRE HATHAWAY FIN CORP 03 58,956 60,568
TARGET CORP 09/15/32 50,048 50,494
UNITED PARCEL SVCS INC NOTE 62,578 62,303
AT&T INC NOTE 59,783 60,134
FLORIDA PWR & LT 60,993 61,516
CONOCO PHILLIPS CO 60,097 61,126
RIO TINTO FIN USA 60,315 61,640
GOLDMAN SACHS GROUP INC 7/23/3 60,692 61,477
CISCO SYS INC NOTE 60,995 62,225
DUKE ENERGY PROGRESS 59,353 61,007

TY 2025 InvestmentsCorpStockSchedule
Name:
GEORGE R WALLACE FOUNDATION
EIN:
04-6130518
Name of Stock End of Year Book Value End of Year Fair Market Value
ALPHABET INC CL C 84,880 368,715
AMAZON.COM 88,052 175,423
AMPHENOL CORP CL A 71,120 270,280
APPLE INC 37,339 407,790
BOOKING HOLDINGS INC    
BROADRIDGE FINANCIAL SOLUTION 85,776 133,902
CINTAS CORP 99,940 178,667
CME GROUP INC 79,884 109,232
COSTCO WHOLESALE CORP 96,157 172,468
EOG RESOURCES INC    
GOLDMAN SACHS GROUP INC 73,275 184,590
INTUIT INC    
JP MORGAN CHASE & CO 88,274 244,887
MARTIN MARIETTA MATERIALS INC 109,658 196,138
MASTERCARD INC CL A 94,646 251,187
MCDONALD S CORP 89,599 114,611
MERCK & CO    
MICROSOFT CORP 91,652 362,715
NVIDIA CORP 38,321 396,313
PEPSICO INC    
SHERWIN WILLIAMS CO    
SOUTHERN CO 68,437 167,860
STRYKER CORP 62,402 100,169
TRACTOR SUPPLY CO 81,917 101,270
ZOETIS INC 98,549 76,750
ARISTA NETWORKS 72,968 175,580
BOSTON SCIENTIFIC CORP 103,467 159,711
META PLATFORMS INC CLASS A 101,864 214,529
HALOZYME THERAPEUTICS INC 99,666 190,123
OREILLY AUTOMOTIVE IN 122,673 171,019
SERVICENOW INC COM 71,434 80,425
SYNOPSYS INC    
LINDE INC COM 103,409 127,917
EATON CORPORATION 87,623 111,479
AMGEN INC 107,370 114,559
ANALOG DEVICES INC COM 98,761 138,312
BAKER HUGHES COMPANY CL A 138,448 145,728
DELL TECHNOLOGIES INC CL C 118,885 125,880
HOWMET AEROSPACE INC COM 110,320 271,652
INTERNATIONAL BUS MACH COR COM 134,511 186,612
INTUITIVE SURGICAL INC 89,191 133,095
NETFLIX INC 106,725 154,704
PARKER-HANNIFIN CORP COM 124,548 206,556
SHOPFY INC COM NPV CL A 136,795 197,188
TJX COMPANIES INC 104,090 142,089
PALATIR TECHNOLOGIES 93,398 103,984
UBER TECH INC COM 99,275 102,138
WILLIAMS COS INC COM 102,909 105,193
BROADCOM INC COM 93,538 86,525
WELLTOWER INC COM 91,715 83,525

TY 2025 InvestmentsGovtObligationsSch
Name:
GEORGE R WALLACE FOUNDATION
EIN:
04-6130518
US Government Securities - End of Year Book Value:

1,047,602
US Government Securities - End of Year Fair Market Value:

1,057,539
State & Local Government Securities - End of Year Book Value:


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


 


TY 2025 OtherDecreasesSchedule
Name:
GEORGE R WALLACE FOUNDATION
EIN:
04-6130518
Description Amount
FED HERMES POSTED 26 TAXED IN 25 266
OTHER BOOK TO TAX ADJUSTMENTS 490


TY 2025 OtherExpensesSchedule
Name:
GEORGE R WALLACE FOUNDATION
EIN:
04-6130518
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK FEES 90 90   0
MA PC FEES 70 0   70


TY 2025 OtherIncreasesSchedule
Name:
GEORGE R WALLACE FOUNDATION
EIN:
04-6130518
Description Amount
FED HERMES POSTED 25 TAXED IN 24 646
IRS REFUND 14,932


TY 2025 OtherProfessionalFeesSchedule
Name:
GEORGE R WALLACE FOUNDATION
EIN:
04-6130518
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FIDELITY ADVISORY FEE 38,013 38,013    


TY 2025 TaxesSchedule
Name:
GEORGE R WALLACE FOUNDATION
EIN:
04-6130518
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX 15,443 0   0