2024-11-15T17:28:02-06:00 2023-12-31 ERNST & YOUNG US LLP 99 WOOD AVENUE SOUTH ISELIN NJ 08830 990PF 2023-01-01 043073023 Cummings Foundation Inc % JOSEPH MONTANO CUMM 7819358000 200 West Cummings Park Woburn MA 01801 WILLIAM S CUMMINGS President 7819358000 2024-11-15 true true MICHAEL SALES P01770943 7325164200 2024-11-15 2023 2024-10-15 13:58:12Z X 2929099206 X 4451664 23556104 23556104 23556104 105755 105755 105755 82808 29651855 103549508 26287730 239726178 104837054 239726178 297491556 154786643 263388037 719703 719703 66400703 66439744 1819378 1709433 107575 0 0 24755 11434 11434 28382 28382 28382 3656897 394264 2944264 514517 514517 4364891 4427103 94104138 34630372 34636930 59314692 171727618 35053018 38124093 132646864 18366000 16000 190093618 35053018 38124093 132662864 107397938 119733625 225263944 2606319 818290 818290 15103044 29334378 29334378 10484400 8215439 10484400 10484400 32828 32672 32672 387817 407365 407365 461696851 476640783 860975417 1476338494 1555236304 2021014598 16718819 10686732 6086011 6032087 6032086 1970466803 2078986279 2929099206 1968753 1937205 35642774 33535850 37611527 35473055 X 1932855276 2043513224 1932855276 2043513224 1970466803 2078986279 1932855276 107397938 3260010 2043513224 2043513224 PUBLICLY TRADED SECURITIES - SHORT TERM P 11189763 11550920 -361157 -361157 PUBLICLY TRADED SECURITIES - LONG TERM P 64829920 61660450 3169470 3169470 M LYNCH CARLYLE BUYOUT P 368148 -368148 -368148 M LYNCH SLP V P 2639976 2639976 2639976 M LYNCH SLP VI P 188120 -188120 -188120 M LYNCH ORBIMED P 356726 356726 356726 M LYNCH OAK V P 2915 2915 2915 KKR P 2960405 -2960405 -2960405 COMMONFUND CAPITAL NATURAL RESOURCES PARTNERS IX LP P 388247 388247 388247 COMMONFUND CAPITAL NATURAL RESOURCES PARTNERS IX LP P 29624 29624 29624 COMMONFUND CAPITAL NATURAL RESOURCES PARTNERS IX LP SEC 1231 P 856 -856 -856 COMMONFUND CAPITAL PRIVATE EQUITY P 114726 114726 114726 COMMONFUND CAPITAL PRIVATE EQUITY P 1074 -1074 -1074 COMMONFUND CAPITAL PRIVATE EQUITY SEC 1231 P 1242 -1242 -1242 COMMONFUND CAPITAL INTERNATIONAL PARTNERS VII, LP P 69789 69789 69789 COMMONFUND CAPITAL INTERNATIONAL PARTNERS VII, LP P 1 1 1 COMMONFUND CAPITAL VENTURE PARTNERS IX, L.P. P 4162 4162 4162 US RESEARCH EQUITY EXTENDED FUND, L.P. C/O WELLINGTON MANAGEMENT CO. P 884012 884012 884012 US RESEARCH EQUITY EXTENDED FUND, L.P. C/O WELLINGTON MANAGEMENT CO. P 406349 406349 406349 THE SILCHESTER INTERNATIONAL INVESTORS P 286593 -286593 -286593 THE SILCHESTER INTERNATIONAL INVESTORS P 50475 -50475 -50475 WCAS XIII, LP P 4328 4328 4328 PROVIDENCE EQUITY PARTNERS VII LP P 4395151 4395151 4395151 CRESCENT MEZZAINE PARTNERS VIIB, L.P. P 34674 -34674 -34674 LONGWOOD FUND V, LP P 215507 -215507 -215507 APOLLO INVESTMENT FUND IX, LP P 181423 181423 181423 HIGHLAND LEADERS FUND I LP P 217975 217975 217975 HIGHLAND CAPITAL PARTNERS 10 P 634 -634 -634 CARLYLE EUROPE PARTNERS V, S.C.SP. P 21 21 21 STRATEGIC PARTNERS VIII L.P. P 725280 725280 725280 STRATEGIC PARTNERS VIII L.P. P 16853 16853 16853 STRATEGIC PARTNERS VIII L.P. SEC 1231 P 5450 5450 5450 HUNTER POINT CAPITAL INVESTORS (OFFSHORE) LP P 6970 6970 6970 CUMMINGS FOUNDATION PRIVATE CAPITAL FUND, LP P 765569 765569 765569 CUMMINGS FOUNDATION PRIVATE CAPITAL FUND, LP P 15381280 15381280 15381280 CUMMINGS FOUNDATION PRIVATE CAPITAL FUND, LP SEC 1231 P 710143 710143 710143 COMMONFUND STRATEGIC DIRECT SERIES LLC P 991089 -991089 -991089 COMMONFUND STRATEGIC DIRECT SERIES LLC P 1335058 -1335058 -1335058 COMMONFUND CAPITAL VENTURE PARTNERS IX, L.P. P 169420 169420 169420 COMMONFUND BLUE DIAMOND NON K1 P 1457567 1457567 1457567 COMMONFUND SSGA MSCI NON K1 P 32139 -32139 -32139 PROVIDENCE EQUITY PARTNERS VIII LP P 1044142 1044142 1044142 COMMONFUND GLOBAL DISTRESSED INVESTORS, LLC P 1066 -1066 -1066 COMMONFUND GLOBAL DISTRESSED INVESTORS, LLC P 4953 -4953 -4953 CUMMINGS FOUNDATION PRIVATE CAPITAL FUND, LP SEC 1256 P 85072 -85072 -85072 US RESEARCH EQUITY EF, L.P. SEC 1256 P 59612 59612 59612 STRATEGIC PARTNERS VIII L.P. SEC 1256 P 1189 -1189 -1189 26287730 -182303 1664297 1664297 1664297 2167456 0 2167456 X 0 503159 503159 false false false 0 0 0 false false true true false true true MA true true false true false true www.cummingsfoundation.org JOSEPH MONTANO 7819358000 200 WEST CUMMINGS PARK WOBURN MA 01801 false false false true true false false false false false true false false false false false false true false false true false false false false Joyce M Cummings 200 West Cummings Park Woburn MA 01801 TRUSTEE & TREASURER 25.0 0 0 0 Patricia A Cummings PSY D 200 West Cummings Park Woburn MA 01801 TRUSTEE & Vice President 1.0 0 0 0 William S Cummings 200 West Cummings Park Woburn MA 01801 TRUSTEE & PRESIDENT 50.0 0 0 0 Steven Disalvo 200 West Cummings Park Woburn MA 01801 Trustee 1.0 0 0 0 Anthony Monaco MD PHD Tufts University Medford MA 02155 Trustee (THRU 8/23) 1.0 0 0 0 HON Margot Botsford 200 WEST CUMMINGS PARK WOBURN MA 01801 Trustee 1.0 0 0 0 Paul C Casey 200 West Cummings Park Woburn MA 01801 Trustee (THRU 10/23) 1.0 0 0 0 Carol A Donovan 200 West Cummings Park Woburn MA 01801 Trustee (THRU 10/23) 1.0 0 0 0 Marilyn Cummings Morris MD MPH 200 West Cummings Park WOBURN MA 01801 Trustee 1.0 0 0 0 Richard C Ockerbloom 200 West Cummings Park Woburn MA 01801 Trustee (THRU 3/23) 1.0 0 0 0 Arlan F Fuller MD 200 West Cummings Park Woburn MA 01801 Trustee 1.0 0 0 0 Thomas Pappas 200 WEST CUMMINGS PARK WOBURN MA 01801 TRUSTEE 1.0 0 0 0 David Harris PHD 200 West Cummings Park Woburn MA 01801 Trustee 1.0 0 0 0 ERIC S ANDERSON 200 West Cummings Park Woburn MA 01801 TRUSTEE 1.0 0 0 0 DENNIS A CLARKE 200 West Cummings Park Woburn MA 01801 TRUSTEE 1.0 0 0 0 WILLIAM F GRANT 200 West Cummings Park Woburn MA 01801 TRUSTEE 1.0 0 0 0 CHRISTINE COAKLEY 200 West Cummings Park Woburn MA 01801 EXEC DIRECTOR, NHC 50.0 178485 13425 0 Marie Connoly 200 West Cummings Park Woburn MA 01801 Exec Director, NHM 50.0 196047 18585 30000 ANDREW BISHOP 200 West Cummings Park Woburn MA 01801 Deputy Director (AS OF 9/23) 50.0 159350 8456 0 AISHA FRANCIS PHD Benjamin Franklin Cummings Institut BOSTON MA 02116 TRUSTEE 1.0 0 0 0 Robert Keefe Esq 200 West Cummings Park Woburn MA 01801 Trustee 1.0 0 0 0 Jack Connors Jr Connors Family Office BOSTON MA 01801 Trustee 1.0 0 0 0 Agnes Binagwaho M D PhD 200 West Cummings Park Woburn MA 01801 TRUSTEE 1.0 0 0 0 IOANNIS MIAOULIS PHD Roger Williams University BRISTOL RI 02809 TRUSTEE 1.0 0 0 0 JOHN KEENAN J D SALEM STATE UNIVERSITY SALEM MA 01970 TRUSTEE 1.0 0 0 0 MICHAEL KENNEALY 200 West Cummings Park Woburn MA 01801 TRUSTEE (AS OF 1/23) 1.0 0 0 0 JIM YONG KIM MD PHD 200 West Cummings Park Woburn MA 01801 Trustee (AS OF 10/23) 1.0 0 0 0 SUNIL KUMAR PHD 200 West Cummings Park Woburn MA 01801 TRUSTEE (AS OF 8/23) 1.0 0 0 0 Laura Hiller 200 West Cummings Park Woburn MA 01801 Dep Dir/Asst Clerk (THRU 7/23) 50.0 112917 2438 0 SCOTT CROWLEY 200 WEST CUMMINGS PARK WOBURN MA 01801 DIVISION MANAGER 50.0 228428 33072 0 KARA MURPHY 200 WEST CUMMINGS PARK WOBURN MA 01801 SR. ACCOUNT MANAGER 50.0 200255 18746 0 MICHAEL RAHN 200 WEST CUMMINGS PARK WOBURN MA 01801 DIVISION MANAGER 50.0 190573 12649 0 MICHAEL DONAGHEY 200 WEST CUMMINGS PARK WOBURN MA 01801 TEAM LEADER 50.0 185284 33156 0 BRANDON ADAMS 200 WEST CUMMINGS PARK WOBURN MA 01801 ASSOC. DIVISION MGR 50.0 168386 8045 0 117 MARY ANN MORSE AT NEW HORIZONS 747 WATER STREET FRAMINGHAM MA 01701 ASSISTED LIVING 3639359 COMMONFUND 15 OLD DANBURY ROAD WILTON CT 068970812 INVESTMENT SVCS 2294354 STRATEGIC PARTNERS VIII LP 345 PARK AVE NEW YORK NY 10154 INVESTMENT SVCS 1650076 MERRILL LYNCH TRUST CO ONE FEDERAL STREET BOSTON MA 02110 INVESTMENT SVCS 1405439 CARLYLE EUROPE PARTNERS 1001 PENNSYLVANIA NW STE 220 SOUTH WASHINGTON DC 20004 INVESTMENT SVCS 1132955 3 SEE GENERAL EXPLANATION ATTACHMENT - CUMMINGS SCHOOL OF VETERINARY MEDICINE 97036756 SEE GENERAL EXPLANATION ATTACHMENT - CUMMINGS SCHOOL OF NURSING AND HEALTH SCIENCES 15719352 SEE GENERAL EXPLANATION ATTACHMENT - NEW HORIZONS AT MARLBOROUGH 14679175 SEE GENERAL EXPLANATION ATTACHMENT - NEW HORIZONS AT CHOATE 4805346 2168050964 8744390 540251669 2717047023 0 2717047023 40755705 2676291318 133814566 X 132662864 0 460581 0 0 133123445 1990-04-27 X 133814566 129515133 114953729 85232250 463515678 113742381 110087863 97710670 72447413 393988327 133123445 118274920 98747853 91132818 441279036 16000 22600 8823 117250 164673 133107445 118252320 98739030 91015568 441114363 0 89407764 86343422 76635819 56821500 309208505 0 0 0 0 WILLIAM S CUMMINGS PATRICIA A CU JOYCE CUMMINGS AND JASON Z MORRIS NONE X ST CHARLES BORROMEO PARISH 280 MAIN STREET WOBURN MA 01801 N/A PC Community Welfare Program 5000 MEDFORD JINGLE BELL FESTIVAL 74 HIGH STREET MEDFORD MA 02155 N/A PC COMMUNITY HEALTHCARE PROGRAM 1000 CUMMINGS FOUNDATION GRANTS INC 200 WEST CUMMINGS PARK WOBURN MA 01801 PF TRANSFER WAS MADE FOR ENDOWMENT PURPOSES 18350000 PLYMOUTH STATE UNIVERSITY 17 HIGH STREET PLYMOUTH NH 03264 N/A PC EDUCATIONAL SCHOLARSHIPS 2000 UNIVERSITY OF MASSACHUSETTS-AMHERST 215 WHITMORE BLDG AMHERST MA 01003 N/A PC EDUCATIONAL SCHOLARSHIPS 2000 VNA HOSPICE CARE INC 100 TRADECENTER SUITE G-500 WOBURN MA 01801 N/A PC COMMUNITY HEALTHCARE PROGRAM 1000 MAYOR'S CHARITY RELIEF FUND PO BOX 345 MARLBOROUGH MA 01752 PC CIVIC FUNDRAISER 5000 18366000 SENIOR FACILITY REVENUE 22220264 HOME HEALTH CARE REVENUE 3333103 CUMMINGS HEALTH SCIENCES, LLC 107786496 14 23556104 16 82808 14 104792721 901101 3366034 18 26285821 VENDING INCOME 01 23708 FLOW-THROUGH PARTNERSHIP LOSSES 901101 1535743 BOOK SALES INCOME 01 22909 LITIGATION INCOME 01 11234 4901777 154775305 133339863 293016945 1A PART OF THE PRIMARY EXEMPT PURPOSE OF CUMMINGS FOUNDATION IS TO OPERATE TWO NOT-FOR PROFIT RESIDENTIAL INDEPENDENT AND ASSISTED LIVING FACILITIES FOR SENIORS. SENIOR FACILITY REVENUE IS INCOME FROM THE OPERATION OF SUCH FACILITIES. 1B PART OF THE PRIMARY EXEMPT PURPOSE OF CUMMINGS FOUNDATION IS TO PROVIDE HOME HEALTH CARE TO SENIORS. HOME HEALTH CARE REVENUE IS INCOME FROM THE PROVISION OF SUCH CARE TO SENIORS. 1C CUMMINGS FOUNDATION ENTERED INTO A LONG-TERM AGREEMENT WITH TUFTS UNIVERSITY IN 2004 TO OPERATE ITS VETERINARY SCHOOL THROUGH A SUBSIDIARY CALLED Cummings Health Sciences, LLC (FKA Veterinary School at Tufts, LLC.) DURING THE TERM OF THE AGREEMENT, CUMMINGS FOUNDATION WILL CONTRIBUTE AT LEAST $50 MILLION TO SUPPORT THE RENAMED CUMMINGS SCHOOL OF VETERINARY MEDICINE. THE IRS ISSUED A PRIVATE LETTER RULING ON MAY 6, 2004, CONFIRMING THAT THE EXPENDITURES DIRECTED TO TUFTS UNIVERSITY AND THE EXPENSES CUMMINGS FOUNDATION INCURS IN OPERATING THE CUMMINGS SCHOOL CONSTITUTE QUALIFIED DISTRIBUTIONS DIRECTLY FOR THE ACTIVE CONDUCT OF CUMMINGS FOUNDATION'S EXEMPT PURPOSES. 1D Cummings Foundation, Inc. entered into a long-term agreement with Endicott College effective January 1, 2022, to operate the Cummings School of Nursing and Health Sciences (CSNHS) on Endicott College's campus through a subsidiary called Cummings Health Sciences, LLC (CHSL). The manner of operation of CSNHS by CHSL is virtually identical to CHSL's operation of Cummings School of Veterinary Medicine at Tufts University, approved in a letter ruling issued by the IRS on May 6, 2004. false false false false true false false false false 1b(3) 0 HEM REALTY INC SEE ATTACHED 1b(3) 0 NHC REALTY INC SEE ATTACHED true HEM REALTY INC 501(C)(2) A DIVISION OF CFI NHC REALTY INC 501(C)(2) A DIVISION OF CFI X X 1 William S Cummings 200 West Cummings Park Woburn MA 01801 4319571 X 2 Kevin Cummings 200 West Cummings Park Woburn MA 01801 130000 X ACCOUNTING FEES 107575 24755 SUMMARY OF DIRECT CHARITABLE ACTIVITIES SUMMARY OF DIRECT CHARITABLE ACTIVITIES FORM 990-PF, PART VIII-A CUMMINGS SCHOOL OF VETERINARY MEDICINE - $97,036,756. CUMMINGS FOUNDATION ENTERED INTO A LONG-TERM AGREEMENT WITH TUFTS UNIVERSITY in 2004 TO OPERATE ITS VETERINARY SCHOOL THROUGH A SUBSIDIARY CALLED Cummings Health Sciences, LLC (FKA Veterinary School At Tufts, LLC). DURING THE TERM OF AGREEMENT, CUMMINGS FOUNDATION WILL CONTRIBUTE AT LEAST $50 MILLION TO SUPPORT THE RENAMED CUMMINGS SCHOOL OF VETERINARY MEDICINE. THE IRS ISSUED A LETTER RULING ON MAY 6, 2004, CONFIRMING THAT THE EXPENDITURES DIRECTED TO TUFTS UNIVERSITY AND THE EXPENSES CUMMINGS FOUNDATION INCURS IN OPERATING THE CUMMINGS SCHOOL CONSTITUTE QUALIFIED DISTRIBUTIONS DIRECTLY FOR THE ACTIVE CONDUCT OF CUMMINGS FOUNDATION'S EXEMPT PURPOSES. NEW HORIZONS AT MARLBOROUGH - $14,679,175. ESTABLISHED IN 1993 AND ACCOMMODATES APPROXIMATELY 500 RESIDENTS AT ITS MARLBOROUGH, MASSACHUSETTS CAMPUS. THE FACILITY HAS THE ABILITY TO ACCOMMODATE ACTIVE AND INDEPENDENT SENIORS, SENIORS REQUIRING ASSISTANCE WITH ACTIVITIES OF DAILY LIVING (ASSISTED LIVING RESIDENTS) AND SENIORS SUFFERING FROM ALZHEIMER'S DISEASE. Cummings School of Nursing and Health Sciences $15,719,352. Cummings Foundation, Inc. entered into a long-term agreement with Endicott College effective January 1, 2022, to operate the Cummings School of Nursing and Health Sciences (CSNHS) on Endicott College's campus through a subsidiary called Cummings Health Sciences, LLC (CHSL). During the term of the agreement and in accordance therewith, the building housing CSNHS is leased by CHSL, and CSNHS's revenues and expenses are accounted for by CHSL. The manner of operation of CSNHS by CHSL is virtually identical to CHSL's operation of Cummings School of Veterinary Medicine at Tufts University, approved in a letter ruling issued by the IRS on May 6, 2004. NEW HORIZONS AT CHOATE - $4,805,346. ESTABLISHED IN 1990 AND ACCOMMODATES 125 SENIORS. THE FACILITY IS LOCATED IN WOBURN, MA. FORMERLY THE CHOATE MEMORIAL HOSPITAL PROPERTY, THIS PROPERTY WAS CONVERTED TO A RETIREMENT COMMUNITY WHICH INCLUDES SUITES FOR INDEPENDENT LIVING AND ASSISTED LIVING UNITS. THE FACILITY HAS THE ABILITY TO ACCOMMODATE ACTIVE AND INDEPENDENT SENIORS, SENIORS REQUIRING ASSISTANCE WITH ACTIVITIES OF DAILY LIVING (ASSISTED LIVING RESIDENTS) AND SENIORS SUFFERING FROM ALZHEIMER'S DISEASE. DESCRIPTION OF RENTAL OF FACILITIES DESCRIPTION OF RENTAL OF FACILITIES FORM 990-PF, PART XVI, LINE 1D REPORTING ORGANIZATION HAS A DIVISION CALLED NEW HORIZONS AT MARLBOROUGH, LLC (EIN: 75-3031923) ("NHM"). NHM IS LESSEE OF REAL PROPERTY FROM HEM REALTY, INC. (EIN: 30-0553220) ("HEM REALTY"), WHICH IT USES IN OPERATIONS. HEM REALTY IS A 501(C)(2) TITLE HOLDING COMPANY THAT IS RELATED TO REPORTING ORGANIZATION. BECAUSE HEM REALTY HOLDS TITLE FOR REPORTING ORGANIZATION, AND CONSISTENT WITH ITS PURPOSES WOULD TURN OVER ANY RENT IT COLLECTS TO REPORTING ORGANIZATION, HEM REALTY WAIVES PAYMENT OF RENT FROM REPORTING ORGANIZATION'S DIVISION, NHM. REPORTING ORGANIZATION HAS A DIVISION CALLED NEW HORIZONS AT CHOATE, LLC (EIN: 75-3031909) ("NHC"). NHC IS LESSEE OF REAL PROPERTY FROM NHC REALTY, INC.(EIN: 30-0553218) ("NHC REALTY"), WHICH IT USES IN OPERATIONS. NHC REALTY IS A 501 (C)(2) TITLE HOLDING COMPANY THAT IS RELATED TO REPORTING ORGANIZATION. BECAUSE NHC REALTY HOLDS TITLE FOR REPORTING ORGANIZATION, AND CONSISTENT WITH ITS PURPOSES WOULD TURN OVER ANY RENT IT COLLECTS TO REPORTING ORGANIZATION, NHC REALTY WAIVES PAYMENT OF RENT FROM REPORTING ORGANIZATION'S DIVISION, NHC. 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