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 07 - 01 2025, and ending 06 - 30, 20 26
Name of foundation
KATHRYN DAVIS GRADO FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) HEMENWAY BARNES
  Room/suite
City or town
BOSTON
State or province
MA
Country  
ZIP or foreign postal code
021961209
A Employer identification number

81-6663721
B Telephone number (see instructions)

6175579734
C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$5,027,703J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 86,916 86,916  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 156,975
b Gross sales price for all assets on line 6a 837,210
7 Capital gain net income (from Part IV, line 2)... 156,975
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).......      
12 Total. Add lines 1 through 11........ 243,891 243,891  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 32,912 16,456   16,456
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
1,753 0   1,753
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
5,233 2,617   2,616
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
13,651 13,651   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
2,789 1,036   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
164 129   35
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 56,502 33,889   20,860
25 Contributions, gifts, grants paid....... 203,778 203,778
26 Total expenses and disbursements. Add lines 24 and 25 ................ 260,280 33,889   224,638
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -16,389
b Net investment income (if negative, enter -0-) 210,002
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 Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 62,149 83,206 83,206
3 Accounts receivable  
Less: allowance for doubtful accounts        
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) 722,187 Click to see attachment
List of Attached Documents:
// Content
939,103 		943,861
b Investments—corporate stock (attach schedule)....... 1,682,529 Click to see attachment
List of Attached Documents:
// Content
1,627,390 		4,000,636
c Investments—corporate bonds (attach schedule)....... 200,000 0 0
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
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) 2,666,865 2,649,699 5,027,703
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 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 2,666,865 2,649,699
29 Total net assets or fund balances (see instructions)..... 2,666,865 2,649,699
30 Total liabilities and net assets/fund balances (see instructions). 2,666,865 2,649,699
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
2,666,865
2
Enter amount from Part I, line 27a .....................
2
-16,389
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
2,650,476
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
777
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
2,649,699
Form 990-PF (2025)
Form 990-PF (2025)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 146.81 SHARES ADVANCED MICRO DEVICES P 2017-08-23 2025-08-28
b 3.19 SHARES ADVANCED MICRO DEVICES P 2017-03-29 2025-08-25
c 50 SHARES ALPHABET INC CL A P 2018-07-03 2025-08-25
d 50 SHARES CHEVRON P 2018-09-27 2025-08-28
e 100 SHARES NVIDIA CORP P 2023-02-16 2025-08-28
50 SHARES ROCKWELL AUTOMATION P 2018-07-03 2025-08-28
25 SHARES RTX CORPORATION P 2017-06-28 2025-08-28
75 SHARES RTX CORPORATION P 2017-05-31 2025-08-28
30 SHARES ADVANCED MICRO DEVICES P 2017-03-29 2025-11-13
100 SHARES ALPHABET INC CL A P 2017-05-31 2025-11-13
400 SHARES CARRIER GLOBAL P 2024-02-15 2025-11-13
320 SHARES CARRIER GLOBAL P 2024-05-15 2025-11-13
180 SHARES CARRIER GLOBAL P 2024-08-23 2025-11-13
250 SHARES CARRIER GLOBAL P 2024-11-21 2025-11-13
300 SHARES MCCORMICK & CO P 2024-05-15 2025-11-13
200 SHARES MCCORMICK & CO P 2024-08-23 2025-11-13
100 SHARES MCCORMICK & CO P 2024-11-21 2025-11-13
200 NOVO NORDISK A S ADR P 2025-02-20 2025-11-13
200 NOVO NORDISK A S ADR P 2025-05-13 2025-11-13
65 SHARES ROCKWELL AUTOMATION P 2018-07-03 2025-11-13
75 SHARES SALESFORCE.COM P 2024-11-21 2025-11-13
45 SHARES RTX CORPORATION P 2025-02-20 2025-11-13
50,000 PAR US TREASURY NOTES 2.625% 1/31/2026 P 2023-02-17 2026-01-31
50,000 PAR US TREASURY NOTES 2.625% 1/31/2026 P 2023-05-19 2026-01-31
50 SHARES ABBOTT LABS P 2023-11-14 2026-02-19
75 SHARES ABBOTT LABS P 2017-08-23 2026-02-19
80 SHARES ALPHABET INC CL A P 2017-05-31 2026-02-19
50 SHARES ANALOG DEVICES P 2017-03-29 2026-02-19
50 SHARES APTARGROUP P 2019-08-23 2026-02-19
100 SHARES APTARGROUP P 2021-11-16 2026-02-19
150 SHARES CANADIAN NATIONAL RAILWAY P 2017-06-28 2026-02-19
50 SHARES CANADIAN NATIONAL RAILWAY P 2018-07-03 2026-02-19
25 SHARES CHEVRON P 2018-09-27 2026-02-19
25 SHARES RTX CORPORATION P 2017-05-31 2026-02-19
55 SHARES RTX CORPORATION P 2017-09-27 2026-02-19
30 SHARES UNITEDHEALTH GROUP P 2024-05-15 2026-02-19
100 SHARES UNITEDHEALTH GROUP P 2018-07-03 2026-02-19
50 SHARES UNITEDHEALTH GROUP P 2018-11-14 2026-02-19
50 SHARES UNITEDHEALTH GROUP P 2020-02-12 2026-02-19
200,000 PAR CALVERT IMPACT CAPITAL INC 2.5% 2/27/2026 P 2021-02-26 2026-02-27
25 SHARES ADVANCED MICRO DEVICES P 2017-03-29 2026-06-02
20 SHARES ALPHABET INC CL A P 2017-05-31 2026-06-02
5 SHARES ALPHABET INC CL A P 2017-06-28 2026-06-02
25 SHARES ANALOG DEVICES P 2017-03-29 2026-06-02
25 SHARES APPLE INC P 2017-12-26 2026-06-02
350 SHARES FISERV P 2017-03-29 2026-06-02
25 SHARES FISERV P 2017-05-31 2026-06-02
100 SHARES FISERV P 2017-06-28 2026-06-02
200 SHARES FISERV P 2017-08-23 2026-06-02
(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 24,771   5,415 19,356
b 538   108 430
c 10,606   2,820 7,786
d 7,951   6,143 1,808
e 18,019   2,198 15,821
17,430   8,422 9,008
4,012   1,751 2,261
12,035   5,198 6,837
7,448   1,013 6,435
27,957   4,925 23,032
22,162   22,387 -225
17,730   21,024 -3,294
9,973   12,843 -2,870
13,851   19,083 -5,232
19,816   22,391 -2,575
13,211   15,843 -2,632
6,605   7,798 -1,193
9,800   16,711 -6,911
9,800   13,124 -3,324
24,622   10,949 13,673
18,020   25,326 -7,306
10,812   14,357 -3,545
50,000   50,000 0
15,000   15,000 0
5,612   4,876 736
8,418   3,727 4,691
24,256   3,940 20,316
17,165   4,102 13,063
7,148   6,025 1,123
14,295   13,518 777
16,390   12,399 3,991
5,463   4,050 1,413
4,633   3,071 1,562
5,112   1,733 3,379
11,247   3,690 7,557
8,680   15,501 -6,821
28,934   24,858 4,076
14,467   13,333 1,134
14,467   15,143 -676
200,000   200,000 0
12,943   844 12,099
7,278   985 6,293
1,820   239 1,581
10,507   2,051 8,456
7,869   1,066 6,803
19,878   20,273 -395
1,420   1,564 -144
5,680   6,199 -519
11,359   12,219 -860
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       19,356
b       430
c       7,786
d       1,808
e       15,821
      9,008
      2,261
      6,837
      6,435
      23,032
      -225
      -3,294
      -2,870
      -5,232
      -2,575
      -2,632
      -1,193
      -6,911
      -3,324
      13,673
      -7,306
      -3,545
      0
      0
      736
      4,691
      20,316
      13,063
      1,123
      777
      3,991
      1,413
      1,562
      3,379
      7,557
      -6,821
      4,076
      1,134
      -676
      0
      12,099
      6,293
      1,581
      8,456
      6,803
      -395
      -144
      -519
      -860
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 156,975
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ......................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 2,919
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 2,919
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 2,919
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 2,120
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 2,120
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....... 9 799
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)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
MA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressN/A
14
The books are in care ofHEMENWAY BARNES LLP Telephone no. (617) 227-7940

Located at75 STATE STREET 16TH FLBOSTONMA ZIP+402109
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2025? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
JOAN GARRITY FLYNN TRUSTEE
1.00 		16,456 0 0
C/O HEMENWAY BARNES LLP 75 STATE
STREET 16TH FLOOR
BOSTON,MA02109
BRIAN C BRODERICK TRUSTEE
1.00 		16,456 0 0
C/O HEMENWAY BARNES LLP 75 STATE
STREET 16TH FLOOR
BOSTON,MA02109
LEIGHANN GRADO TRUSTEE
0.50 		0 0 0
C/O HEMENWAY BARNES LLP 75 STATE
STREET 16TH FLOOR
BOSTON,MA02109
KRISTINA GRADO TRUSTEE
0.50 		0 0 0
C/O HEMENWAY BARNES LLP 75 STATE
STREET 16TH FLOOR
BOSTON,MA02109
SUMMER MARSHALL TRUSTEE
0.50 		0 0 0
C/O HEMENWAY BARNES LLP 75 STATE
STREET 16TH FLOOR
BOSTON,MA02109
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................0
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
4,635,161
b
Average of monthly cash balances.......................
1b
159,339
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
4,794,500
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
4,794,500
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
71,918
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
4,722,582
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
236,129
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
236,129
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
2,919
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
2,919
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
233,210
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
233,210
6
Deduction from distributable amount (see instructions) .................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
233,210
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, line 26, column (d) ..........
1a
224,638
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
224,638
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 233,210
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 203,778
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 224,638
a Applied to 2024, but not more than line 2a 203,778
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..... 20,860
e Remaining amount distributed out of corpus 0
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 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 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 .......... 		212,350
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 ...... 		0
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 ....  
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or 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)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

AMERICAN FOUNDATION FOR SUICIDE PREVENTION

199 WATER STREET 11TH FLOOR
NEW YORK,NY10038 		NONE   GENERAL OPERATING SUPPORT 13,585

BACKPACK BUDDIES OF GREATER BLUFFTON

PO BOX 3525
BLUFFTON,SC29910 		NONE   GENERAL OPERATING SUPPORT 5,000

BAT CONSERVATION INTERNATIONAL INC

500 N CAPITAL OF TEXAS HWY BLDG
8-225
AUSTIN,TX78746 		NONE   GENERAL OPERATING SUPPORT 13,585

BOYS & GIRLS CLUBS OF THE LOWCOUNTRY

10 PINCKNEY COLONY ROAD SUITE 103
OKATIE,SC29909 		NONE   GENERAL OPERATING SUPPORTBOYS AND GIRLS CLUB OF BLUFFTON 10,000

CENTER FOR DISASTER PHILANTHROPY

1 THOMAS CIRCLE NW SUITE 700
WASHINGTON,DC200055800 		NONE   FOR UKRAINE RELIEF 13,585

CHILD ABUSE PREVENTION ASSOCIATION

PO BOX 531
BEAUFORT,SC29901 		NONE   GENERAL OPERATING SUPPORTOPEN ARMS CHILDREN'S HOME 5,000

DOCTORS WITHOUT BORDERS USA

PO BOX 5030
HAGERSTOWN,MD217415030 		NONE   GENERAL OPERATING SUPPORT 5,000

FAMILY PROMISE OF BEAUFORT COUNTY

181 BLUFFTON ROAD STE D101
BLUFFTON,SC29910 		NONE   GENERAL OPERATING SUPPORT 5,000

HABITAT FOR HUMANITY INTERNATIONAL INC

322 W LAMAR STREET
AMERICAS,GA31709 		NONE   GENERAL OPERATING SUPPORT 18,585

HILTON HEAD PREPARATORY SCHOOL

8 FOX GRAPE ROAD
HILTON HEAD ISLAND,SC29928 		NONE   GENERAL OPERATING SUPPORT 5,000

HOPEFUL HORIZONS

PO BOX 1775
BEAUFORT,SC29901 		NONE   GENERAL OPERATING SUPPORT 5,000

HUMANE SOCIETY OF CHITTENDEN COUNTY

142 KINDNESS COURT
SOUTH BURLINGTON,VT05403 		NONE   GENERAL OPERATING SUPPORT 13,585

MUSICIAN TREATMENT FOUNDATION OF AUSTIN TEXAS

3736 BEE CAVE ROAD SUITE 1-250
WEST LAKE HILLS,TX78746 		NONE   GENERAL OPERATING SUPPORT 13,585

NEW ROOTS INSTITUTE

1110 N VIRGIL AVE SUITE 98280
LOS ANGELES,CA90029 		NONE   GENERAL OPERATING SUPPORT 13,585

SHATTERPROOF

101 MERRITT 7 1ST FLOOR
NORWALK,CT06851 		NONE   GENERAL OPERATING SUPPORT 5,000

STONELEIGH-BURNHAM SCHOOL

574 BERNARDSTON ROAD
GREENFIELD,MA013011102 		NONE   GENERAL OPERATING SUPPORT 7,926

WORLD CENTRAL KITCHEN

1342 FLORIDA AVE NW
WASHINGTON,DC200094808 		NONE   GENERAL OPERATING SUPPORT 18,586

WOUNDED WARRIOR PROJECT INC

4899 BELFORT ROAD SUITE 300
JACKSONVILLE,FL32256 		NONE   GENERAL OPERATING SUPPORT 13,586

BLOOD CANCER UNITED

1201 15TH STREET NW SUITE 410
WASHINGTON,DC20005 		NONE   GENERAL OPERATING SUPPORT 13,585

SAHAR EDUCATION

4533 SUNNYSIDE AVE N
SEATTLE,WA98103 		NONE   GENERAL OPERATING SUPPORT 5,000
Total ................................. 3a 203,778
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 86,916  
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 ............ 		    18 156,975  
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) .. 0 243,891 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
243,891
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


Phone no.
Form 990-PF (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
KATHRYN DAVIS GRADO FOUNDATION
EIN:
81-6663721
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX SERVICE FEE 5,233 2,617   2,616

TY 2025 GeneralExplanationAttachment
Name:
KATHRYN DAVIS GRADO FOUNDATION
EIN:
81-6663721
Identifier Return Reference Explanation
990PF TRUSTEE COMPENSATION 990PF, PART VII-B LINE 1A (4) JOAN GARRITY FLYNN AND BRIAN C. BRODERICK ARE PARTNERS IN THE LAW FIRM OF HEMENWAY & BARNES LLP. HEMENWAY & BARNES LLP RECEIVED $32,912 FOR THEIR SERVICES AS TRUSTEES AND FOR SOME RELATED ADMINISTRATIVE SERVICES PERFORMED BY OTHER FIRM PERSONNEL. JOAN GARRITY FLYNN AND BRIAN C. BRODERICK DO NOT RECEIVE ANY COMPENSATION DIRECTLY FROM THE TRUST, BUT ARE COMPENSATED BY HEMENWAY & BARNES LLP.

TY 2025 InvestmentsCorpStockSchedule
Name:
KATHRYN DAVIS GRADO FOUNDATION
EIN:
81-6663721
Name of Stock End of Year Book Value End of Year Fair Market Value
1,000 SHS TJX COS 52,735 151,500
545 SHS ADVANCED MICRO DEVICES 18,395 316,596
1,100 SHS NVIDIA CORP 24,174 220,099
300 SHS HOME DEPOT 45,070 105,804
275 SHS MASTERCARD 31,941 141,240
700 SHS WAL-MART STORES 30,116 79,282
400 SHS MICROSOFT CORP 42,876 149,208
310 SHS ROCKWELL AUTOMATION 49,710 153,475
535 SHS DANAHER CORP 46,409 101,907
400 SHS AUTOMATIC DATA PROCESSING 40,943 89,580
575 SHS PROCTER & GAMBLE 56,005 84,318
425 SHS ANALOG DEVICES 34,112 168,797
750 SHS XYLEM INC 48,905 88,658
750 SHS AMAZON 76,934 178,755
500 SHS APTARGROUP 40,814 62,600
650 SHS JOHNSON & JOHNSON 84,687 165,079
650 SHS CHEVRON 77,403 107,744
775 SHS APPLE INC 30,931 224,254
700 SHS CANADIAN NATL RAILWAY 54,097 83,468
875 SHS ABBOTT LABS 40,986 79,397
695 SHS ALPHABET INC CL A 30,486 248,372
150 SHS VERTEX PHARMACEUTICALS 66,355 74,510
1,750 SHS SCHNEIDER ELEC SA ADR 75,007 114,065
210 SHS AMERICAN EXPRESS 69,499 71,033
800 SHS CHARLES SCHWAB 73,992 73,816
100 SHS ELI LILLY & CO 94,623 119,943
745 SHS RTX CORPORATION 43,188 141,349
300 SHS APPLIED MATERIAL 53,633 216,900
950 SHS UBER TECHNOLOGIES INC 78,439 68,552
300 SHS WASTE CONNECTIONS INC NEW 47,126 50,007
70 SHS BROADCOM INC 23,253 26,443
500 SHS NEXTERRA ENERGY 44,546 43,885

TY 2025 InvestmentsGovtObligationsSch
Name:
KATHRYN DAVIS GRADO FOUNDATION
EIN:
81-6663721
US Government Securities - End of Year Book Value:

939,103
US Government Securities - End of Year Fair Market Value:

943,861
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2025 LegalFeesSchedule
Name:
KATHRYN DAVIS GRADO FOUNDATION
EIN:
81-6663721
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 1,753 0   1,753


TY 2025 OtherDecreasesSchedule
Name:
KATHRYN DAVIS GRADO FOUNDATION
EIN:
81-6663721
Description Amount
ACCRUED INTEREST PAID CARRYOVER 777


TY 2025 OtherExpensesSchedule
Name:
KATHRYN DAVIS GRADO FOUNDATION
EIN:
81-6663721
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FILING FEE 35 0   35
ADR FEES 129 129   0


TY 2025 OtherProfessionalFeesSchedule
Name:
KATHRYN DAVIS GRADO FOUNDATION
EIN:
81-6663721
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 13,651 13,651   0


TY 2025 TaxesSchedule
Name:
KATHRYN DAVIS GRADO FOUNDATION
EIN:
81-6663721
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 1,036 1,036   0
EXCISE TAX FYE 6/30/2025 FEDERAL ESTIMATE 1,753 0   0