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
STEPHANIE H & DAVID A SPINA
FAMILY FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address) 2 WEBSTER LANE
Room/suite

City or town
WAYLAND

State or province
MA

Country

ZIP or foreign postal code
01778

A Employer identification number

20-2017017

B Telephone number (see instructions)

5083304566

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)$4,840,869J 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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	1,805,779
2	Check .................
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	42,083		42,083
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		1,146,324
b	Gross sales price for all assets on line 6a
7	Capital gain net income (from Part IV, line 2)...			1,146,324
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......	List of Attached Documents: // Content	6,231	6,231
12	Total. Add lines 1 through 11........	3,000,417		1,194,638
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	7,000	3,500	3,500
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	41,223	41,223	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	19,638	171	35
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	3,592	3,592	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	71,453		48,486	3,535
25	Contributions, gifts, grants paid.......	1,965,000			1,965,000
26	Total expenses and disbursements. Add lines 24 and 25 ................	2,036,453		48,486	1,968,535
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	963,964
b	Net investment income (if negative, enter -0-)			1,146,152
c	Adjusted net income (if negative, enter -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.............	107,700	147,802	147,802
	2	Savings and temporary cash investments.........	47,448	46,940	46,940
	3	Accounts receivable 9,419
		Less: allowance for doubtful accounts	9,419	9,419	9,419
	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
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	242,479	List of Attached Documents: // Content 222,726	228,385
	b	Investments—corporate stock (attach schedule).......	2,499,888	List of Attached Documents: // Content 3,345,823	4,007,295
	c	Investments—corporate bonds (attach schedule).......	296,163	List of Attached Documents: // Content 224,351	229,022
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	0	List of Attached Documents: // Content 170,000	172,006
	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)	3,203,097	4,167,061	4,840,869
	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	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........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	3,203,097	4,167,061
	29	Total net assets or fund balances (see instructions).....	3,203,097	4,167,061
	30	Total liabilities and net assets/fund balances (see instructions).	3,203,097	4,167,061

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

3,203,097

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

963,964

Other increases not included in line 2 (itemize)

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

4,167,061

Decreases not included in line 2 (itemize)

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

4,167,061

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
1 a	GS 010-44267-1	P
b	GS 051-75339-0	P
c	GS 051-75339-0	P
d	GS 010-48721-3	P
e	GS 010-48721-3	P
	GS 014-63059-4	P
	GS 014-63059-4	P
	GS 051-45638-2	P
	GS 051-45638-2	P

(e) Gross sales price		(f) Depreciation allowed (or allowable)	(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a				986,713
b				-3,975
c				42,682
d				4,269
e				2,088
				55,832
				-3,924
				74,629
				-11,990

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			986,713
b			-3,975
c			42,682
d			4,269
e			2,088
			55,832
			-3,924
			74,629
			-11,990

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	1,146,324
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	15,932
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	15,932
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	15,932
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	14,000
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	14,000
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	1,932
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 tax	Refunded	11
	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. $ 0(2) On foundation managers.$ 0

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

on foundation managers.$ 0

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 addressN/A

The books are in care ofRAPHAEL RAPHAEL ATTN B CARNEY Telephone no. (617) 210-1200

Located at312 STUART STREET 3RD FLOORBOSTONMA ZIP+402116

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)

(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
DAVID A SPINA	TRUSTEE 2.00	0	0	0
2 WEBSTER LANE WAYLAND,MA01778	TRUSTEE 2.00	0	0	0
STEPHANIE H SPINA	TRUSTEE 2.00	0	0	0
2 WEBSTER LANE WAYLAND,MA01778	TRUSTEE 2.00	0	0	0

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
GOLDMAN SACHS	INVESTMENT ADVISORY	41,223
125 HIGH ST 1700 BOSTON,MA02110	INVESTMENT ADVISORY	41,223

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

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

4,543,510

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

174,945

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

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

4,718,455

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

4,718,455

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

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

70,777

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

4,647,678

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

232,384

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

232,384

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

15,932

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

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

15,932

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

216,452

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

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

216,452

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

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

216,452

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) ..........

1,968,535

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. .......

1,968,535

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					216,452
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......	793,352
b From 2021......	1,157,214
c From 2022......	1,764,702
d From 2023......	1,339,519
e From 2024......	1,433,995
f Total of lines 3a through e ........		6,488,782
4Qualifying distributions for 2025 from Part
XI, line 4: $ 1,968,535
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.....					216,452
e Remaining amount distributed out of corpus		1,752,083
5 Excess distributions carryover applied to 2025.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		8,240,865
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) ...		793,352
9 Excess distributions carryover to 2026. Subtract lines 7 and 8 from line 6a ......		7,447,513
10 Analysis of line 9:
a Excess from 2021 ....	1,157,214
b Excess from 2022 ....	1,764,702
c Excess from 2023 ....	1,339,519
d Excess from 2024 ....	1,433,995
e Excess from 2025 ....	1,752,083

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).)

DAVID A SPINA

STEPHANIE H SPINA

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 email address of the person to whom applications should be addressed:

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

cAny submission deadlines:

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

Form 990-PF (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
THE AUSBON SARGENT LAND PRESERVATION TRUST PO BOX 2040 NEW LONDON,NH03257	N/A		COMMUNITY - PROTECTION AND CONSERVATION OF LAND	25,000
THE WILY NETWORK 189 WELLS AVE STE 301 NEWTON,MA02459	N/A		COMMUNITY & CHARITABLE - FUND-A-SCHOLAR PROGRAM	650,000
ST ELIZABETH EPISCOPAL CHURCH ONE MORSE ROAD SUDBURY,MA01776	N/A		RELIGIOUS	165,000
SPOONFULLS 189 WELLS AVE STE 100 NEWTON,MA02459	N/A		COMMUNITY - FOOD DELIVERED FOR PEOPLE IN NEED	15,000
PLANNED PARENTHOOD LEAGUE OF MASSACHUSETTS 1055 COMMONWEALTH AVENUE BOSTON,MA02215	N/A		COMMUNITY & CHARITABLE - PPLM ANNUAL FUND	40,000
PARTNERS IN HEALTH 800 BOYLSTON STREET STE 300 BOSTON,MA02199	N/A		COMMUNITY & CHARITABLE - PROVIDING QUALITY HEALTH CARE FOR EVERYONE	500,000
NEW ENGLAND CENTER AND HOMES FOR VETERANS 17 COURT ST BOSTON,MA02108	N/A		COMMUNITY & CHARITABLE - MULTIDIMENSIONAL SERVICE FOR VETERANS	115,000
UNITED WAY OF MASS BAY 9 CHANNEL CENTER STREET STE 500 BOSTON,MA02210	N/A		VARIOUS COMMUNITY PROJECTS	30,000
NATIVITY SCHOOL OF WORCESTER 67 LINCOLN STREET WORCESTER,MA01605	N/A		EDUCATIONAL - TEACHING FELLOWS PROGRAM	50,000
MICHIGAN STATE UNIVERSITY COLLEGE OF HUMAN MEDICINE - FLINT 535 CHESTNUT ROAD ROOM 300 EAST LANSING,MI48824	N/A		EDUCATIONAL - CHM FILING CAMPUS GRANT FUND	145,000
HILLSDALE COLLEGE 33 EAST COLLEGE ST HILLSDALE,MI49242	N/A		EDUCATIONAL	25,000
FRESH START FURNITURE BANK 16 BRENT DRIVE HUDSON,MA01749	N/A		COMMUNITY & CHARITABLE - FURNITURE FOR FAMILIES IN NEED	50,000
FAMILY AID BOSTON 3815 WASHINGTON STREET BOSTON,MA02130	N/A		SAFE HAVEN FOR FAMILIES STRUGGLING WITH HOMELESSNESS	25,000
COLLEGE OF THE HOLY CROSS ONE COLLEGE STREET WORCESTER,MA01610	N/A		COMMUNITY & CHARITABLE - ANNUAL FUND	25,000
CATHOLIC SCHOOLS FOUNDATION 67 BATTERYMARCH STREET BOSTON,MA02110	N/A		CATHOLIC EDUCATION	30,000
MORE THAN WORDS MTWYOUTH 56 FELTON STREET WALTHAM,MA02453	N/A		YOUTH DEVELOPMENT AND SUPPORT	75,000
Total ................................. 3a				1,965,000

bApproved for future payment

Total ................................. 3b				0

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	42,083
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 .....			14	6,231
8 Gain or (loss) from sales of assets other than inventory ............			18	1,146,324
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) ..		0		1,194,638	0

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

1,194,638

(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:

Schedule B
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

Name of the organization

STEPHANIE H & DAVID A SPINA
FAMILY FOUNDATION

Employer identification number

20-2017017

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

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

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

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

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... $

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 2025) Page 2

Name of organization STEPHANIE H & DAVID A SPINA FAMILY FOUNDATION

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	DAVID AND STEPHANIE SPINA 2 WEBSTER LANE WAYLAND, MA01778	$ 1,805,779	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 3

Name of organization STEPHANIE H & DAVID A SPINA FAMILY FOUNDATION		Employer identification number 20-2017017

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
1	1644 SHS MONDELEZ, 1286 SHS SYSCO, 5430 SHS METLIFE, 6755 SHS NIKE, 1546 VISA, 900 SHS AM TOWER CORP	$ 1,805,779	2025-10-27
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 4


Name of organization STEPHANIE H & DAVID A SPINA FAMILY FOUNDATION			Employer identification number 20-2017017
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2025 AccountingFeesSchedule

Name:

STEPHANIE H & DAVID A SPINA

FAMILY FOUNDATION

EIN:

20-2017017

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
RAPHAEL AND RAPHAEL	7,000	3,500		3,500

- TIN:

TY 2025 InvestmentsCorpBondsSchedule

Name:

STEPHANIE H & DAVID A SPINA

FAMILY FOUNDATION

EIN:

20-2017017

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ALEXANDRIA REAL ESTATE EQUITIE 3.8% 4/15/26	2,906	3,020
AMGEN INC 5.15%	8,110	8,326
BANK OF AMERICA CORP HYBRID 01/20/2028	5,979	6,089
BAXTER INTERNATIONAL INC 1.915% 2/1/27	1,880	1,968
CITIGROUP INC HYBRID 1/28/27	8,338	9,023
CMS ENERGY CORP 3.0% 5/15/26	5,830	6,002
CROWN CASTLE INTERNATIONAL COR 3.8% 2/15/28	2,888	3,020
ELEVANCE HEALTH INC 5.35% 10/15/25	1,994	2,021
EVERSOURCE ENERGY 3.3% 1/15/28	3,871	3,990
GENERAL MOTORS FINL CO 1.25 1/8/2026	2,680	3,017
JP MORGAN CHASE & CO HYBRID 1/23/2028	4,042	4,130
MORGAN STANLEY HYBRID 01/21/28	3,931	3,979
NXP FUNDING LLC 5.35% 3/1/26	13,038	13,231
ORACLE CORPORATION 2.3 3/25/28 USD SR LIEN	6,698	6,720
SRS CCD MTN 3.75%	1,977	2,002
TCI COMMUNICATIONS INC 7.125% 2/15/28	3,221	3,270
TRUIST FINANCIAL CORPORATION HYBRID MTN 10/28/26	4,060	4,149
US BANCORP HYBRID 10/21/26	2,053	2,069
VOYA FINANCIAL INC 3.65% 6/15/26	5,762	5,997
B.A.T INTERNATIONAL FINANCE P 1.668%	2,977	2,997
TELEDYNE TECHNOLOGIES IN 1.6%	2,950	3,990
AMERICAN TOWER CORP 1.6%	4,931	4,982
US BANCORP HYBRID 1/27/2028	1,955	1,984
BANK OF MONTREAL 5.203% 2/1/2028	9,034	9,426
CITIGROUP INC HYBRID 2/24/28	4,934	4,998
KENVUE INC 5.05% 3/22/28	2,048	2,072
WELLS FARGO & CO HYBRID MTN 4/22/28	6,132	6,191
BANK OF NOVA SCOTIA HYBRID 9/15/28	1,998	2,024
TENNESSEE GAS PIPELINE 7.0 10/15/28	6,460	6,532
DOW CHEMICAL COMPANY 4.8% 11/30/28	3,040	3,057
BANK OF AMERICA CORP HYBRID 12/20/28	6,902	6,927
CAPITAL ONE FINANCIAL CO HYBRID 2/1/29	6,126	5,249
BECTON DICKINSON AND COMPANY 4.874% 2/8/29	8,146	8,317
PHILIP MORRIS INT'L IN 4.875% 2/13/29	7,159	7,301
AMERICAN TOWER CORP 3.95%	8,912	9,034
MID-AMERICA APARTMENTS 3.95% 3/15/29	7,956	8,050
RELX CAPITAL INC 4% 3/18/29	6,973	7,062
INTERSTATE POWER & LIGHT 3.6% 4/1/29	3,922	3,957
REPUBLIC SERVICES INC 4.875% 4/1/29	4,114	4,150
GENERAL MOTORS FINL CO 4.3% 4/6/29	3,988	4,035
MORGAN STANLEY HYBRID 4/12/29	4,084	4,124
ENERGY TRANSFER OPERATING LP 5.25% 4/15/29	5,137	5,196
AUTOZONE INC 3.75% 4/18/29	2,954	2,980
MORGAN STANLEY HYBRID 4/20/29	5,114	5,165
WELLS FARGO & CO HYBRID 4/23/29	7,147	7,199

- TIN:

TY 2025 InvestmentsCorpStockSchedule

Name:

STEPHANIE H & DAVID A SPINA

FAMILY FOUNDATION

EIN:

20-2017017

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABORATORIES CMN	6,610	6,390
ABBVIE INC CMN	5,359	5,941
ALLEGION PUBLIC LIMITED COMPAN CMN	2,293	2,548
ALPHABET INC. CMN CLASS A	30,175	33,491
AMAZON.COM INC CMN	33,297	49,497
AMERICAN EXPRESS CO CMN	7,582	9,619
AON PUBLIC LIMITED COMPANY CMN	5,919	6,352
APPLIED MATERIALS INC CMN	4,879	7,710
ARISTA NETWORKS INC CMN	22,075	19,523
ARTHUR J GALLAGHER & CO CMN	2,265	2,588
ASTRAZENECA PLC SPONS ADR SPONSORED ADR CMN	4,063	4,780
AUTODESK, INC. CMN	5,454	5,328
AUTONATION INC CMN	2,034	2,478
AUTOZONE, INC. CMN	1,003	3,392
BARCLAYS BANK PLC LINKED TO S&P 500	377,000	381,411
BLUE OWL CAPITAL INC CMN	2,779	2,525
CANADIAN NATURAL RESOURCES CMN	1,690	2,460
CENCORA INC COM	6,740	9,119
CENOVUS ENERGY INC. CMN	2,912	3,079
CENTERPOINT ENERGY, INC CMN	4,033	4,946
CITIGROUP INC LINKED TO S&P 500	143,000	165,952
COCA-COLA EUROPEAN PARTNERS PL CMN	2,465	3,175
CONOCOPHILLIPS CMN	4,836	6,178
CORPAY INC CMN	3,696	4,213
CRH PLC SPON ADR ADR CMN	7,425	11,107
DELL TECHNOLOGIES INC CMN	4,772	5,790
DIAMONDBACK ENERGY INC CMN	7,215	6,915
EMERSON ELECTRIC CO CMN	2,600	2,787
FIRSTENERGY CORP. CMN	7,273	7,477
FLEX LTD CMN	3,794	4,773
GE VERNOVA LLC CMN	6,546	10,457
GENERAL DYNAMICS CORP. CMN	5,281	6,397
HONEYWELL INTL INC CMN	8,779	8,779
HOWMET AEROSPACE INC. CMN	8,052	11,891
HUNGTINGTON BANCSHARES INCORPOR CMN	5,737	6,792
INTERCONTINENTAL EXCHANGE INC CMN	5,494	6,154
INTUIT INC CMN	5,600	12,586
JACOBS ENGINEERING GROUP INC CMN	3,943	3,841
JPMORGAN CHASE & CO CMN	17,107	22,878
KEYSIGHT TECHNOLOGIES INC CMN	4,104	4,877
KINROSS GOLD CORPORATION CMN	8,359	11,855
LEIDOS HLDGS INC CMN	2,952	3,428
LPL FINANCIAL HOLDINGS INC CMN	7,359	7,858
MARATHON PETROLEUM CORPORATION CMN	6,249	7,318
MASTERCARD INCORPORATED CMN CLASS A	4,200	6,851
MCKESSON CORPORATION CMN	5,934	8,211
MEDTRONIC PUBLIC LIMITED COMPA CMN	5,383	5,602
META PLATFORMS INC CLASS A CMN	20,599	35,083
MICROCHIP TECHNOLOGY INCORPORA CMN	5,979	6,627
MICRON TECHNOLOGY, INC. CMN	5,941	10,851
MICROSOFT CORPORATION CMN	47,024	54,009
MORGAN STANLEY CMN	6,191	7,989
NICE SYSTEMS LTD 1 ADR REPRESENTS 1 ORD SH	5,323	4,635
NOVO-NORDISK A/S ADR ADR CMN	2,664	2,595
NVIDIA CORPORATION CMN	62,154	60,986
NXP SEMICONDUCTORS N.V. CMN	6,498	7,627
ORACLE CORPORATION CMN	12,194	10,720
PHILIP MORRIS INTL INC CMN	15,909	15,812
PPL CORPORATION CMN	6,208	6,106
S&P 500 INDEX FUND (SPDR) SPDR S&P 500 ETF TRUST (SPY)	1,028,318	1,538,121
SYSCO CORPORATION CMN	5,613	5,453
THE BANK OF NOVA SCOTIA LINKED TO S&P 500	600,000	590,730
THE HOME DEPOT INC CMN	3,559	3,441
T-MOBILE US, INC. CMN	4,426	5,076
TRIMBLE INC CMN	2,571	2,742
UBER TECHNOLOGIES INC CMN	8,274	8,171
UBER TECHNOLOGIES INC CMN	10,202	11,603
UNITED AIRLINES HOLDINGS INC CMN	2,555	3,131
UNITED RENTALS, INC. CMN	5,134	6,475
UNITEDHEALTH GROUP INCORPORATE CMN	6,509	6,272
US FOODS HOLDING CORP. CMN	6,701	8,662
VISA INC. CMN CLASS A	9,376	9,469
WALT DISNEY COMPANY CMN	7,814	7,902
WELLS FARGO & CO (NEW) CMN	6,954	9,040
WESTINGHOUSE AIR BRAKE TECHNOL CMN	3,015	4,269
MORGAN STANLEY FINANCE LLC LINKED TO S&P 500INDEX	170,000	166,481
PRAXAIR INC 3.2%	4,983	5,064
NETEASE INC SPONS ADR CMN	3,910	3,853
CREDICORP LTD CMN	3,632	4,018
ADYEN NV ADR CMN	3,315	3,440
AIA GROUP LIMITED PONS ADR CMN	7,395	7,268
AIR LIQUIDE SA ADR CMN	2,948	2,823
ALCON INC CMN	3,103	3,310
ALFA LAVAL AB UNSPONS ADR CMN	3,878	4,193
ALLIANZ SE ADR CMN	8,638	9,631
ASML HOLDING NV ADR CMN	10,219	10,699
ASSA ABLOY AB UNSPONSORED ADR	3,326	3,504
ATLAS COPCO AB SPONS ADR NEW	2,245	2,450
BAE SYSTEMS PLC SPONS ADR CMN	5,187	5,349
BANCO BILBAO VIZCAYA S A ADR	4,491	4,988
CANADIAN NATIONAL RAILWAY CO CMN	1,800	1,878
CHUGAI PHARMACEUTICAL CO LTD UNSPONS ADR	5,803	6,495
COLOPLAST A/S PONSORED ADR CMN	1,652	1,521
COMPASS GROUP PLC SPONS ADR CMN	2,592	2,512
CONTEMPORARY AMPEREX TECH ADR CMN	5,699	5,277
DAIFUKU CO LTD ADR CMN	3,057	2,955
DASSAULT SYSTEMES SPONS ADR CMN	2,022	2,072
DBS GROUP HOLDINGS SPONS ADR CMN	9,860	10,343
DISCO CORP ADR CMN	7,667	7,437
EPIROC AB SPONS ADR CMN	3,455	3,780
FOMENTO ECONOMICO MEXICANO SAB	6,786	7,176
GENMAB A/S SPONS ADR CMN	3,220	3,419
GRUPO FINANCIERO BANCORTE S/A ADR CMN	2,776	2,645
HAIER SMART HOME CO LTD ADR CMN	3,082	2,870
HALEON PLC SPONS ADR CMN	4,993	5,308
HDFC BANK LTD SPONS ADR CMN	7,948	8,075
LOREAL CO ADR CMN	4,920	5,167
LASERTEC CORP ADR CMN	6,251	6,241
M3 INC ADR CMN	2,332	2,299
MANULIFE FINANCIAL CORP CMN	5,101	5,551
MECADOLIBRE INC CMN	4,110	4,029
NOVARTIS AGA ADR SPONS ADR CMN	2,659	2,895
NOVOZYMES A/S UNSPONSORED ADR CMN	1,981	1,988
OBIC CO LTD ADR CMN	3,104	3,062
PT TELEKOMUNIKASI INDONESIA ADS	2,821	2,863
PING AN INS GRP CO OF CHINA	2,899	3,097
RIO TINTO PLC PONS ADR	4,830	5,522
ROCHE HOLDING AG ADR	5,022	6,007
RYANAIR HOLDINGS PLC SPONS ADR CMN	2,967	3,321
S.F. HOLDING CO LTD CMN	1,921	1,846
SAFRAN SA PONS ADR CMN	2,860	2,794
SCHNEIDER ELECTRIC SE UNSPONS ADR	7,516	7,614
SEA LIMITED SPONS ADR CMN CL A	2,160	1,786
SHELL PLC SPONS ADR CMN	7,658	7,421
SHIONOGI & CO LTD UNSPONS ADR CMN	2,519	2,674
SONOVA HOLDING AG UNSPONS ADR CMN	1,884	1,882
SONY GROUP CORP SPONS ADR CMN	5,964	5,478
SYMRISE AGA UNSPONSORED ADR CMN	2,141	2,103
SUSMEX CORP ADR CMN	2,766	2,529
TAIWAN SEMICONDUCTOR ADS LTD	10,816	11,267
TECHTRONIC INDUSTRIES COMPANY SPONS ADR CMN	1,918	1,906
TENCENT HOLDINGS LTD	10,324	9,543
UNICHARM CORP SPONS ADR CMN	2,151	1,916
ALLSTATE CORP COMMON STOCK	4,088	4,183
APOLLO GLOBAL MANAGEMENT INC CMN	5,366	5,646
APTIV PLC CMN	3,010	2,968
BOOKING HOLDINGS INC CMN	10,111	10,710
C.H. ROBINSON WORLDWIDE INC COM	4,204	5,164
CAPITAL ONE FINANCIAL CORP CMN	4,795	6,059
CHARLES SCHWAB CORP CMN	5,066	5,495
COCA-COLA COMP CMN	5,897	6,082
CUMMINS INC COMMON STOCK	4,894	5,615
ENTERGY CORPORATION CMN	4,711	4,806
FEDEX CORP CMN	2,600	5,806
FREEPORT-MCMORAN INC CMN	3,345	3,505
GILEAD SCIENCES CMN	6,400	6,382
HUBBELL INCORPORATED INC CMN	4,754	4,885
IQVIA HOLDINGS INC CMN	5,481	5,861
L3HARRIS TECHNOLOGIES INC CMN	5,520	5,871
LABCORP HOLDINGS INC CMN	2,930	2,760
LULULEMON ATHLETICA INC CMN	2,559	2,494
NEWMONT CORP CMN	6,320	7,988
NRG ENERY INC	2,517	2,389
OLD DOMINION FREIGHT LINE INC CMN	3,484	3,920
QUEST DIAGNOSTICS INCORP CMN	5,934	5,726
RELIANCE INC CMN	3,741	3,755
STEEL DYNAMICS INC CMN	3,194	3,569
TENET HEALTHCARE CORP CMN	3,198	3,180
SLB LTD CMN	1,872	2,398
BROADCOM INC CMN	23,146	28,726
CANDENCE DESIGN SYSTEMS INC CMN	4,273	4,689
DEXCOM INC CMN	9,302	10,287
GENERAL ELECTRIC COMPANY CMN	8,986	13,261
NETFLIX INC CMN	9,078	8,438
PINTEREST INC CMN CLASS A	3,698	2,900
REDDIT INC CMN CLASS A	8,744	10,344
SERVICENOW INC CMN	3,504	3,064
SIEMENS ENERGY AG ADR CMN	3,802	3,818

- TIN:

TY 2025 InvestmentsGovtObligationsSch

Name:

STEPHANIE H & DAVID A SPINA

FAMILY FOUNDATION

EIN:

20-2017017

US Government Securities - End of Year Book Value:

222,726

US Government Securities - End of Year Fair Market Value:

228,385

State & Local Government Securities - End of Year Book Value:

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

- TIN:

TY 2025 InvestmentsOtherSchedule2

Name:

STEPHANIE H & DAVID A SPINA

FAMILY FOUNDATION

EIN:

20-2017017

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
CITIGROUP INC LINKED TO BASKET OF INDICES UPSIDE	AT COST	170,000	172,006

- TIN:

TY 2025 OtherExpensesSchedule

Name:

STEPHANIE H & DAVID A SPINA

FAMILY FOUNDATION

EIN:

20-2017017

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
PORTFOLIO DEDUCTIONS	3,556	3,556		0
BANK FEES	36	36		0

- TIN:

TY 2025 OtherIncomeSchedule2

Name:

STEPHANIE H & DAVID A SPINA

FAMILY FOUNDATION

EIN:

20-2017017

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
OTHER INVESTMENT INCOME	6,231	6,231	6,231

- TIN:

TY 2025 OtherProfessionalFeesSchedule

Name:

STEPHANIE H & DAVID A SPINA

FAMILY FOUNDATION

EIN:

20-2017017

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
GOLDMAN SACHS	41,223	41,223		0

- TIN:

TY 2025 TaxesSchedule

Name:

STEPHANIE H & DAVID A SPINA

FAMILY FOUNDATION

EIN:

20-2017017

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
FOREIGN TAX PAID	171	171	0
MA FILLING FEES	35	0	35
FEDERAL TAXES	19,432	0	0