TY 2025 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.
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
TR UW MARTIN W DUGAN

Number and street (or P.O. box number if mail is not delivered to street address) 125 HIGH ST OLIVER ST TWR STE 901
Room/suite

City or town
BOSTON

State or province
MA

Country

ZIP or foreign postal code
02110

A Employer identification number

04-6193022

B Telephone number (see instructions)

6178971124

C If exemption application is pending, check here

G Check all that apply: Initial returnInitial return of a former public charity

Address change Name change

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

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

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

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 .......

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$764,428J 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...	16,857		16,857
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		39,684
b	Gross sales price for all assets on line 6a 312,390
7	Capital gain net income (from Part IV, line 2)...			39,684
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).......	List of Attached Documents: // Content	64
12	Total. Add lines 1 through 11........	56,605		56,541
13	Compensation of officers, directors, trustees, etc.	1,816		908		908
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	900	450	0	450
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	8,788	4,395		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	254	254		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
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	11,793		6,007	0	1,358
25	Contributions, gifts, grants paid.......	31,500				31,500
26	Total expenses and disbursements. Add lines 24 and 25 ................	43,293		6,007	0	32,858
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	13,312
b	Net investment income (if negative, enter -0-)			50,534
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	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.........
	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).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	536,182	549,174	764,428
	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)	536,182	549,174	764,428
	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........	536,182	549,174
	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).....	536,182	549,174
	30	Total liabilities and net assets/fund balances (see instructions).	536,182	549,174

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

536,182

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

13,312

Other increases not included in line 2 (itemize) Click to see attachment

List of Attached Documents:

// Content

195

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

549,689

Decreases not included in line 2 (itemize) Click to see attachment

List of Attached Documents:

// Content

515

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

549,174

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	5. ABBVIE INC		2022-04-01	2025-07-28
b	716.52 SHNKMN CAP SH DUR HI INC-INS		2024-01-10	2025-11-10
c	10. ADVANCED MICRO DEVICES		2021-07-30	2025-03-18
d	20. ADVANCED MICRO DEVICES		2023-01-10	2025-04-11
e	2. AIR PRODUCTS & CHEMICALS INC		2018-08-01	2025-01-21
	2. ALPHABET INC-CL A		2014-10-28	2025-01-21
	8. ALPHABET INC-CL A		2014-10-28	2025-07-28
	6. ALPHABET INC-CL A		2014-10-28	2025-11-05
	4. AMAZON.COM, INC		2016-11-22	2025-01-21
	9. AMAZON.COM, INC		2016-11-22	2025-07-28
	.6425 AMENTUM HOLDINGS INC		2023-01-25	2025-06-04
	1. AMENTUM HOLDINGS INC		2023-06-02	2025-06-11
	3. AMERICAN ELECTRIC POWER		2020-10-16	2025-01-21
	2. AMERICAN EXPRESS CO		2024-06-20	2025-07-28
	2. ANALOG DEVICES INC		2013-12-10	2025-07-28
	8. APPLE COMPUTER INC		2014-10-28	2025-07-28
	3. APPLIED MATERIALS INC		2020-04-28	2025-01-21
	2. APPLIED MATERIALS INC		2020-04-28	2025-07-28
	4. ARISTA NETWORKS INC		2025-06-27	2025-07-28
	8. BANK OF AMERICA CORPORATION		2024-12-02	2025-07-28
	1. BLACKROCK INC		2016-09-21	2025-09-24
	15. BOSTON SCIENTIFIC CORP		2023-09-05	2025-01-21
	17. BOSTON SCIENTIFIC CORP		2023-09-05	2025-03-18
	6. BOSTON SCIENTIFIC CORP		2023-09-05	2025-07-28
	7. BROADCOM INC		2018-07-23	2025-01-21
	6. BROADCOM INC		2018-07-23	2025-07-28
	14. CHART INDUSTRIES INC		2025-03-19	2025-09-08
	34. CHEVRONTEXACO CORP		2023-04-28	2025-01-21
	191. COLUMBIA EM CORE EX-CHINA		2023-09-05	2025-01-21
	2. CONOCOPHILLIPS		2021-01-12	2025-01-21
	13. CONOCOPHILLIPS		2021-01-12	2025-06-03
	1. CONOCOPHILLIPS		2021-01-12	2025-07-28
	18. CONOCOPHILLIPS		2021-01-12	2025-09-08
	284. DIM US LARGE CAP VALUE ETF		2024-01-09	2025-01-21
	37. EASTMAN CHEMICAL CO		2022-01-19	2025-04-11
	2. ECOLAB INC COM		2024-09-27	2025-07-28
	4. EMERSON ELEC CO		2023-09-05	2025-01-21
	3. EMERSON ELEC CO		2023-09-05	2025-07-28
	1. EQUINIX INC		2023-06-14	2025-07-28
	3. EQUINIX INC		2023-06-14	2025-09-08
	5. EXXON MOBIL CORP		2025-01-21	2025-07-28
	1. META PLATFORMS INC-CLASS A		2016-11-22	2025-01-21
	1. META PLATFORMS INC-CLASS A		2016-11-22	2025-03-18
	2. META PLATFORMS INC-CLASS A		2016-11-22	2025-04-11
	3. META PLATFORMS INC-CLASS A		2018-03-29	2025-07-28
	166.635 FEDERATED HERM MDT L/C VA-IS		2025-01-21	2025-07-28
	292.195 FIDELITY INTERMEDIATE BOND		2024-12-23	2025-07-28
	13. HARTFORD INSURANCE GROUP INC		2022-05-03	2025-01-21
	3. HARTFORD INSURANCE GROUP INC		2022-05-03	2025-07-28
	20. HONEYWELL INTL INC		2023-01-10	2025-03-18
	2. INTERCONTINENTAL EXCHANGE IN		2025-04-11	2025-07-28
	75. INVESCO S&P MIDCAP QUAL ETF		2024-05-03	2025-01-21
	87. INVESCO S&P MIDCAP QUAL ETF		2024-01-09	2025-01-21
	976. INVESCO BULLETSHARES 2028 CB		2024-01-09	2025-03-31
	964. INVESCO BULLETSHARES 2025 CB		2024-01-09	2025-03-31
	957. INVESCO BULLETSHARES 2032 CB		2024-01-09	2025-03-31
	46. ISHARES 7-10 YEAR TREASURY B		2024-09-20	2025-03-12
	29. ISHARES INTERMEDIATE GOVERNM		2024-09-20	2025-07-28
	281. ISHARES 1-5Y INV GRADE CORP		2024-01-09	2025-03-31
	56. ISHARES 10-20 YEAR TREASURY		2024-09-20	2025-03-12
	3. JP MORGAN CHASE & CO		2016-01-20	2025-01-21
	3. JP MORGAN CHASE & CO		2016-01-20	2025-07-28
	27. JACOBS SOLUTIONS INC		2023-06-02	2025-09-24
	1. ELI LILLY & CO		2023-09-05	2025-07-28
	3. LOWES COS INC		2024-07-10	2025-07-28
	2. MC DONALDS CORP		2025-01-21	2025-07-28
	9. MERCK & CO. INC.		2024-05-16	2025-01-21
	31. MERCK & CO. INC.		2023-04-17	2025-01-21
	12. NEXTERA ENERGY INC		2024-05-16	2025-07-28
	3. NVIDIA CORP		2023-08-30	2025-01-21
	6. NVIDIA CORP		2023-08-30	2025-06-03
	10. NVIDIA CORP		2023-08-30	2025-11-05
	4. ORACLE SYS CORP		2023-01-10	2025-07-28
	5. ORACLE SYS CORP		2023-01-10	2025-09-24
	3. PNC BANK CORP		2024-09-16	2025-07-28
	3. PALO ALTO NETWORKS INC		2023-04-13	2025-01-21
	3. PALO ALTO NETWORKS INC		2023-04-13	2025-07-28
	23. PEPSICO INC		2021-01-12	2025-11-05
	796.138 PRINCIP SPEC PREF & CAP-INST		2023-01-11	2025-06-20
	111.061 PRINCIPAL MIDCAP FUND-R6		2025-01-21	2025-07-28
	2. PROCTER & GAMBLE CO		2025-04-11	2025-07-28
	5. PROLOGIS INC		2023-01-10	2025-07-28
	71. PROSHARES S&P 500 DIVIDEND A		2024-01-09	2025-01-02
	50. PROSHARES S&P 500 DIVIDEND A		2023-10-04	2025-01-02
	3. PULTEGROUP INC		2023-12-18	2025-07-28
	1. S&P GLOBAL INC		2023-12-18	2025-07-28
	214. STATE STREET SPDR MSCI ACWI		2022-01-19	2025-01-21
	577. SS SPDR P INT C CORP ETF		2023-01-10	2025-03-31
	1. SALESFORCE INC		2023-12-18	2025-06-03
	13. SALESFORCE INC		2023-12-18	2025-06-27
	1. SERVICENOW INC		2022-01-19	2025-07-28
	10. TESLA INC		2024-12-02	2025-06-27
	7. THERMO ELECTRON CORP		2021-03-25	2025-01-21
	59. UBER TECHNOLOGIES INC		2024-05-30	2025-01-21
	15. UNITED HEALTH GROUP		2024-05-16	2025-06-03
	9. VANGUARD FTSE DEVELOPED ETF		2022-01-19	2025-01-21
	146. VANGUARD INT DIV APP INDX FD		2024-01-09	2025-01-21
	5. VERALTO CORP		2025-01-21	2025-07-28
	3. VISA INC-CLASS A SHARES		2013-03-13	2025-07-28
	21. WAL-MART STORES INC		2020-01-15	2025-01-21
	12. WAL-MART STORES INC		2020-01-15	2025-07-28
	16. WAL-MART STORES INC		2020-01-15	2025-09-24
	2. WASTE MGMT INC DEL		2024-09-27	2025-07-28
	116. WISDOMTREE EM SMALL CAP		2023-09-05	2025-01-21
	2. EATON CORP PLC		2017-10-31	2025-07-28
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
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(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	939	809	130
b	7,086	7,000	86
c	1,037	984	53
d	1,846	1,968	-122
e	639	324	315
	398	56	342
	1,536	222	1,314
	1,706	166	1,540
	923	157	766
	2,094	354	1,740
	13	11	2
	22	16	6
	293	275	18
	620	455	165
	461	98	363
	1,708	213	1,495
	581	154	427
	380	102	278
	471	402	69
	385	377	8
	1,128	368	760
	1,513	805	708
	1,683	912	771
	635	322	313
	1,688	151	1,537
	1,765	129	1,636
	2,791	2,141	650
	5,389	5,846	-457
	5,780	5,417	363
	208	95	113
	1,146	615	531
	97	47	50
	1,631	851	780
	8,926	7,671	1,255
	2,863	3,820	-957
	540	510	30
	517	393	124
	447	295	152
	798	770	28
	2,291	2,310	-19
	556	559	-3
	616	121	495
	584	121	463
	1,078	243	835
	2,144	402	1,742
	5,726	5,354	372
	2,995	2,937	58
	1,452	930	522
	363	215	148
	4,201	4,251	-50
	366	311	55
	7,769	7,867	-98
	9,012	7,629	1,383
	19,812	21,552	-1,740
	19,887	19,237	650
	19,398	19,599	-201
	4,341	4,529	-188
	3,080	3,113	-33
	14,693	14,373	320
	5,736	6,158	-422
	789	165	624
	892	165	727
	3,986	2,637	1,349
	806	559	247
	689	657	32
	598	564	34
	864	1,180	-316
	2,978	2,859	119
	853	924	-71
	423	148	275
	847	296	551
	2,018	494	1,524
	987	345	642
	1,524	431	1,093
	581	542	39
	550	296	254
	613	296	317
	3,263	2,724	539
	7,372	7,629	-257
	5,364	5,133	231
	314	334	-20
	537	575	-38
	7,005	6,703	302
	4,933	4,354	579
	350	306	44
	531	437	94
	6,114	6,175	-61
	19,133	19,594	-461
	263	264	-1
	3,547	3,437	110
	986	537	449
	3,247	3,539	-292
	4,009	3,102	907
	3,997	4,447	-450
	4,527	3,970	557
	444	457	-13
	11,890	10,853	1,037
	515	516	-1
	1,064	120	944
	1,949	727	1,222
	1,167	461	706
	1,644	615	1,029
	455	412	43
	5,670	5,466	204
	785	149	636
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534
			2,534

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			130
b			86
c			53
d			-122
e			315
			342
			1,314
			1,540
			766
			1,740
			2
			6
			18
			165
			363
			1,495
			427
			278
			69
			8
			760
			708
			771
			313
			1,537
			1,636
			650
			-457
			363
			113
			531
			50
			780
			1,255
			-957
			30
			124
			152
			28
			-19
			-3
			495
			463
			835
			1,742
			372
			58
			522
			148
			-50
			55
			-98
			1,383
			-1,740
			650
			-201
			-188
			-33
			320
			-422
			624
			727
			1,349
			247
			32
			34
			-316
			119
			-71
			275
			551
			1,524
			642
			1,093
			39
			254
			317
			539
			-257
			231
			-20
			-38
			302
			579
			44
			94
			-61
			-461
			-1
			110
			449
			-292
			907
			-450
			557
			-13
			1,037
			-1
			944
			1,222
			706
			1,029
			43
			204
			636

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	39,684
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	702
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	702
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	702
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	308
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	308
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	394
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 2026 estimated tax0	Refunded	11	0
	For Refunded amount, also complete and attach Form 8050. See instructions.

Form 990-PF (2025)

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. $ (2) On foundation managers.$

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

on foundation managers.$

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 2025 or the taxable year beginning in 2025? 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

The books are in care ofEastern Bank Telephone no. (617) 897-1124

Located at125 HIGH ST STE 901BOSTONMA ZIP+402110

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 ........

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)

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 ........

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

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 2025, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2025?....................

If "Yes," list the years 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 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.).....................

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 2025? ..

Form 990-PF (2025)

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 .........

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
EASTERN BANK	TRUSTEE 2	1,816
125 HIGH ST STE 901 BOS-301 BOSTON,MA02110	TRUSTEE 2	1,816

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)

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

Form 990-PF (2025)

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

731,353

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

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

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

731,353

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

731,353

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

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

10,970

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

720,383

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

36,019

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.)

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

36,019

Tax on investment income for 2025 from Part V, line 5 .......

702

Income tax for 2025. (This does not include the tax from Part V.) ...

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

702

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

35,317

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

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

35,317

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

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

35,317

Part XI

Qualifying Distributions (see instructions)

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

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

32,858

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. .......

32,858

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					35,317
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......	0
b From 2021......	0
c From 2022......	1,851
d From 2023......	1,685
e From 2024......	9,904
f Total of lines 3a through e ........		13,440
4Qualifying distributions for 2025 from Part
XI, line 4: $ 32,858
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.....					32,858
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2025.		2,459			2,459
(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		10,981
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 ......		10,981
10 Analysis of line 9:
a Excess from 2021 ....	0
b Excess from 2022 ....	0
c Excess from 2023 ....	1,077
d Excess from 2024 ....	9,904
e Excess from 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 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) 2025	(b) 2024	(c) 2023	(d) 2022	(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, 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:

EASTERN BANK CO CHARLES NELSON
605 BROADWAY
SAUGUS,MA01906
(617) 897-1124

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

APPLICATION FORMS AVAILABLE UPON REQUEST

cAny submission deadlines:

NONE

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

MUST BE NEEDY RESIDENT OF EITHER NEWBURY, NEWBURYPORT, OR WEST NEWBURY MASSACHUSETTS AND STUDYING SCIENCE, TECHNOLOGY, LAW, MEDICINE, OR CATHOLIC PRIESTHOOD.

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
Wake Forest University 1834 WAKE FOREST ROAD WinstonSalem,NC27109	NONE		SCHOLARSHIP	2,500
University of Vermont UNIVERSITY OF VERMONT BURLINGTON,VT05405	NONE		SCHOLARSHIP	2,500
Tufts University 419 BOSTON AVENUE Medford,MA02155	NONE		SCHOLARSHIP	1,000
Michigan State University 469 WILSON ROAD East Lansing,MI48824	NONE		SCHOLARSHIP	2,500
Clarkson University 8 CLARKSON AVENUE Potsdam,NY13699	NONE		SCHOLARSHIP	1,000
Bentley University 175 FOREST STREET Waltham,MA02452	NONE		SCHOLARSHIP	1,000
Bates College 2 ANDREWS ROAD Lewiston,ME04240	NONE		SCHOLARSHIP	1,000
University of Maine 168 COLLEGE AVENUE Orono,ME04469	NONE		SCHOLARSHIP	1,000
University of New Hampshire 105 MAIN STREET DURHAM,NH03824	NONE		SCHOLARSHIP	2,500
Merrimack College 315 TURNPIKE STREET North Andover,MA01845	NONE		SCHOLARSHIP	1,000
University of Massachusetts - Lowell 1 UNIVERSITY AVENUE Lowell,MA01854	NONE		SCHOLARSHIP	4,000
Cornell University CRADIT FARM DRIVE Ithaca,NY14850	NONE		SCHOLARSHIP	1,000
University of Rhode Island 45 UPPER COLLEGE ROAD Kingston,RI02881	NONE		SCHOLARSHIP	4,000
George Washington University 2121 I STREET NW Washington,DC20052	NONE		SCHOLARSHIP	2,500
Virginia Tech 800 WASHINGTON ST SW BLACKBURG,VA24061	NONE		SCHOLARSHIP	3,000
Georgia Institute of Technology NORTH AVENUE ATLANTA,GA30332	NONE		SCHOLARSHIP	1,000
Total ................................. 3a				31,500

bApproved for future payment

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

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	(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	16,857
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	39,684
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) ..				56,605

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

56,605

(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 (2025)

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	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

- TIN:

TY 2025 AccountingFeesSchedule

Name:

TR UW MARTIN W DUGAN

EIN:

04-6193022

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	900	450		450

- TIN:

TY 2025 OtherDecreasesSchedule

Name:

TR UW MARTIN W DUGAN

EIN:

04-6193022

Description	Amount
2025 ACTIVITY POSTED IN 2026	515

- TIN:

TY 2025 OtherExpensesSchedule

Name:

TR UW MARTIN W DUGAN

EIN:

04-6193022

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
OTHER ALLOCABLE EXPENSE-PRINCI	35	0		0

- TIN:

TY 2025 OtherIncomeSchedule2

Name:

TR UW MARTIN W DUGAN

EIN:

04-6193022

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
OTHER REVENUE	64	0

- TIN:

TY 2025 OtherIncreasesSchedule

Name:

TR UW MARTIN W DUGAN

EIN:

04-6193022

Description	Amount
ROUNDING	3
2024 ACTIVITY POSTED IN 2025	192

- TIN:

TY 2025 OtherProfessionalFeesSchedule

Name:

TR UW MARTIN W DUGAN

EIN:

04-6193022

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMNT MNGMNT FEES (NON-DED	8,787	4,394
ADR FEES	1	1

- TIN:

TY 2025 TaxesSchedule

Name:

TR UW MARTIN W DUGAN

EIN:

04-6193022

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES ON QUALIFIED FOR	171	171		0
FOREIGN TAXES ON NONQUALIFIED	83	83		0