2025-11-17T17:33:53-06:00 2024-12-31 ERNST & YOUNG US LLP 200 CLARENDON STREET BOSTON MA 021165072 990PF 2024-01-01 043073023 Cummings Foundation Inc % JOSEPH MONTANO CUMM 7819358000 200 West Cummings Park Woburn MA 01801 WILLIAM S CUMMINGS President 7819358000 2025-11-17 true true lindsey pigg P01268923 6172662000 2025-11-17 2024 2025-03-06 01:10:19Z X 3348844584 X 5422310 31157398 31157398 31157398 108282 108282 108282 83119 109226622 198773042 104761053 3374852 249545786 107274336 249545786 395460398 243301069 284186318 599423 599423 81346001 81197232 1890459 1773300 100886 0 0 41593 5900 5900 34012 34012 34012 3666336 602173 3666336 618820 618820 4453046 4483942 104303904 47920779 47928508 56764795 197018787 48556964 52247676 144866185 32722022 8356 229740809 48556964 52247676 144874541 165719589 194744105 231938642 818290 956329 956329 29334378 9660597 9660597 8476746 10484400 8476746 8476746 32672 30556 30556 407365 168314 168314 476640783 555671235 1152859147 0 497504 497504 1555236304 1661273863 2170121909 6073482 6032087 6073482 6073482 2078986279 2242808626 3348844584 1937205 2004529 33535850 31840238 35473055 33844767 X 2043513224 2208963859 2043513224 2208963859 2078986279 2242808626 2043513224 165719589 2209232813 268954 2208963859 PUBLICLY TRADED SECURITIES - SHORT TERM 12060962 11777955 283007 283007 PUBLICLY TRADED SECURITIES - LONG TERM 132358290 79747300 52610990 52610990 M LYNCH CARLYLE BUYOUT P 690521 690521 690521 M LYNCH SLP V P 1001618 1001618 1001618 M LYNCH SLP VI P 561779 561779 561779 M LYNCH ORBIMED P 938971 938971 938971 THE SILCHESTER INTERNATIONAL INVESTORS P 33085 33085 33085 APOLLO INVESTMENT FUND X, L.P. P 37522 37522 37522 PROVIDENCE EQUITY PARTNERS VIII LP P 1114 1114 1114 CUMMINGS FOUNDATION PRIVATE CAPITAL FUND, LP P 891726 891726 891726 COMMONFUND STRATEGIC DIRECT SERIES LLC P 117444 117444 117444 COMMONFUND GLOBAL DISTRESSED INVESTORS, LLC P 14 14 14 US RESEARCH EQUITY EXTENDED FUND, L.P. P 1998631 1998631 1998631 COMMONFUND CAPITAL PRIVATE EQUITY PARTNERS VIII, L.P. P 548 -548 -548 COMMONFUND CAPITAL VENTURE PARTNERS IX, L.P. P 2560 2560 2560 COMMONFUND CAPITAL NATURAL RESOURCES PARTNERS IX LP P 4443 -4443 -4443 STRATEGIC PARTNERS VIII L.P. P 14740 14740 14740 WCAS XIII, L.P. P 1085820 1085820 1085820 TPG HEALTHCARE PARTNERS, L.P. P 63242 63242 63242 TPG PARTNERS VIII, L.P. P 23568 23568 23568 TPG VIII DE AIV I-A, L.P. P 552670 552670 552670 LONGWOOD FUND V, L.P. P 393395 -393395 -393395 AIF IX CARBON AIV, L.P. P 1 1 1 CARLYLE EUROPE PARTNERS V, S.C.SP. P 3120615 -3120615 -3120615 APOLLO INVESTMENT FUND IX, LP P 587619 587619 587619 THE SILCHESTER INTERNATIONAL INVESTORS P 1677094 1677094 1677094 CARLYLE STRATEGIC PARTNERS III (CAYMAN), L.P. P 2311 2311 2311 HIGHLAND CAPITAL PARTNERS 10 P 1725 -1725 -1725 PROVIDENCE EQUITY PARTNERS VII LP P 5845823 5845823 5845823 CRESCENT MEZZANINE PARTNERS VIIB, L.P. P 152417 152417 152417 COMMONFUND CAPITAL INTERNATIONAL PARTNERS VII, LP P 22879 22879 22879 PROVIDENCE EQUITY PARTNERS VIII LP P 1621110 1621110 1621110 CUMMINGS FOUNDATION PRIVATE CAPITAL FUND, LP P 33520254 33520254 33520254 COMMONFUND STRATEGIC DIRECT SERIES LLC P 83361 -83361 -83361 COMMONFUND GLOBAL DISTRESSED INVESTORS, LLC P 53 53 53 US RESEARCH EQUITY EXTENDED FUND, L.P. P 2121823 2121823 2121823 COMMONFUND CAPITAL PRIVATE EQUITY PARTNERS VIII, L.P. P 126490 126490 126490 COMMONFUND CAPITAL VENTURE PARTNERS IX, L.P. P 143467 143467 143467 COMMONFUND CAPITAL NATURAL RESOURCES PARTNERS IX LP P 5877 -5877 -5877 STRATEGIC PARTNERS VIII L.P. P 1456948 1456948 1456948 HUNTER POINT CAPITAL INVESTORS (OFFSHORE) LP P 4900 4900 4900 CUMMINGS FOUNDATION PRIVATE CAPITAL FUND, LP SEC. 1231 P 113083 -113083 -113083 COMMONFUND CAPITAL PRIVATE EQUITY PARTNERS VIII, L.P. SEC. 1231 P 6458 6458 6458 COMMONFUND CAPITAL NATURAL RESOURCES PARTNERS IX LP SEC. 1231 P 538 -538 -538 STRATEGIC PARTNERS VIII L.P. SEC. 1231 P 5704 5704 5704 APOLLO INVESTMENT FUND IX, LP SEC. 1256 P 27833 -27833 -27833 CUMMINGS FOUNDATION PRIVATE CAPITAL FUND, LP SEC. 1256 P 326 326 326 US RESEARCH EQUITY EXTENDED FUND, L.P. SEC. 1256 P 40062 40062 40062 STRATEGIC PARTNERS VIII L.P. SEC. 1256 P 1244 -1244 -1244 FLORIDA CONDO UNIT 9E P 918954 650000 268954 268954 104761053 3374852 2706943 2706943 2706943 2553159 0 2553159 X 0 153784 false false false 0 0 0 false true 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 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 Margot Botsford 4 Belmore Terrace Jamaica Plain MA 02130 Trustee (THRU 9/24) 1.0 0 0 0 Marilyn Cummings Morris MD MPH 200 West Cummings Park WOBURN MA 01801 Trustee 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 151148 15652 0 Marie Connolly 200 West Cummings Park Woburn MA 01801 Exec Director, NHM 50.0 179234 21421 30000 ANDREW BISHOP 200 West Cummings Park Woburn MA 01801 Deputy Director 50.0 185984 15984 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 Off 79 Newbury ST BOSTON MA 02116 Trustee (THRU 7/24) 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 1.0 0 0 0 JIM YONG KIM MD PHD 200 West Cummings Park Woburn MA 01801 Trustee 1.0 0 0 0 SUNIL KUMAR PHD 200 West Cummings Park Woburn MA 01801 TRUSTEE 1.0 0 0 0 Carol Fulp 1 Huntington Avenue Suite 201 Boston MA 02116 TRUSTEE (AS OF 1/24) 1.0 0 0 0 Joyce Vyriotes 200 West Cummings Park Woburn MA 01801 Exec Dir, Clerk & Trustee 30.0 0 0 0 ANTHONY SPENCER 200 WEST CUMMINGS PARK WOBURN MA 01801 CORE DIVISON OPS MGR 50.0 375938 16351 0 SCOTT CROWLEY 200 WEST CUMMINGS PARK WOBURN MA 01801 DIVISION MANAGER 50.0 239474 36684 0 KARA MURPHY 200 WEST CUMMINGS PARK WOBURN MA 01801 SR. ACCOUNT MANAGER 50.0 193829 21599 0 JEFFREY PELLETIER 200 WEST CUMMINGS PARK WOBURN MA 01801 SUBURBAN DIV OPS MGR 50.0 189972 16097 0 BRANDON ADAMS 200 WEST CUMMINGS PARK WOBURN MA 01801 ASSOCIATE DIV MGR 50.0 192083 13458 0 117 COMMONFUND 15 OLD DANBURY ROAD WILTON CT 068970812 INVESTMENT SVCS 3622187 MERRILL LYNCH TRUST CO ONE FEDERAL STREET BOSTON MA 02110 INVESTMENT SVCS 1493750 MARY ANN MORSE AT NEW HORIZONS 747 WATER STREET FRAMINGHAM MA 01701 ASSISTED LIVING 674463 STRATEGIC PARTNERS VIII LP 345 PARK AVE NEW YORK NY 10154 INVESTMENT SVCS 562500 Longwood VI Prudential T 800 Boylston St Ste BOSTON MA 02199 INVESTMENT SVCS 392712 7 SEE GENERAL EXPLANATION ATTACHMENT - CUMMINGS SCHOOL OF VETERINARY MEDICINE 109872057 SEE GENERAL EXPLANATION ATTACHMENT - CUMMINGS SCHOOL OF NURSING AND HEALTH SCIENCES 16162187 SEE GENERAL EXPLANATION ATTACHMENT - NEW HORIZONS AT MARLBOROUGH 13502434 SEE GENERAL EXPLANATION ATTACHMENT - NEW HORIZONS AT CHOATE 5284232 2611451901 4504498 540251669 3156208068 0 3156208068 47343121 3108864947 155443247 X 144874541 0 660216 0 0 145534757 1990-04-27 X 155443247 133814566 129515133 114953729 533726675 132126760 113742381 110087863 97710670 453667674 145534757 133123445 118274920 98747853 495680975 8356 16000 22600 8823 55779 145526401 133107445 118252320 98739030 495625196 0 0 0 103628831 89209711 86343422 76635819 355817783 0 0 0 0 WILLIAM S CUMMINGS PATRICIA A CU AND JOYCE M CUMMINGS NONE X MEDFORD JINGLE BELL FESTIVAL 74 HIGH STREET MEDFORD MA 02155 N/A PC MISCELLANEOUS COMMUNITY SUPPORT 1000 CUMMINGS FOUNDATION GRANTS INC 200 WEST CUMMINGS PARK WOBURN MA 01801 N/A PF TRANSFER WAS MADE FOR ENDOWMENT PURPOSES 32713666 VNA HOSPICE CARE INC 100 TRADECENTER SUITE G-500 WOBURN MA 01801 N/A PC HEALTHCARE 1000 ALZHEIMER'S ASSOCIATION 225 N MICHIGAN AVE FLOOR 17 CHICAGO IL 60601 N/A PC HEALTHCARE 5156 MARLBOROUGH FIRE DEPARTMENT RELIEF 215 MAPLE STREET MARLBOROUGH MA 01752 N/A GOV MISCELLANEOUS COMMUNITY SUPPORT 200 FRIENDS OF THE MARLBOROUGH SENIORS PO BOX 793 MARLBOROUGH MA 01752 N/A PC HUMAN SERVICES 1000 32722022 SENIOR FACILITY REVENUE 23256767 HOME HEALTH CARE REVENUE 568798 CUMMINGS HEALTH SCIENCES, LLC 120905549 14 31157398 16 83119 14 107236652 901101 4478615 18 104748007 VENDING INCOME 01 28717 FLOW-THROUGH PARTNERSHIP LOSSES 901101 -2459664 BOOK SALES INCOME 01 7738 LITIGATION INCOME 01 1229 2018951 243262860 144731114 390012925 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 4350000 X 2 Kevin Cummings 200 West Cummings Park Woburn MA 01801 141000 X 3 Joyce M Cummings 5280 N Ocean Drive 9E Riviera Beach FL 33404 923356 X X 3 Condominium 923356 2024-04-30 TAX PREP FEES 100886 41593 SUMMARY OF DIRECT CHARITABLE ACTIVITIES SUMMARY OF DIRECT CHARITABLE ACTIVITIES FORM 990-PF, PART VIII-A CUMMINGS SCHOOL OF VETERINARY MEDICINE - $109,872,057. 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 - $13,502,434. 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 $16,162,187. 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 - $5,284,232. 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. ALPHABET INC SHS CL A 1130433 18930001 ALPHABET INC SHS CL C 1129970 19146839 AMAZON COM INC COM 10118352 23503032 AMER EXPRESS COMPANY 15165202 29175942 AMGEN INC COM 9052135 11181457 APPLE INC 3825443 70743651 APPLIED MATERIAL INC 10046550 12026490 AUTOMATIC DATA PROC 3020445 14490135 BERKSHIRE HATHAWAYINC 10178736 23411912 BLACKSTONE INFRA 33000000 33000000 CADENCE DESIGN SYS INC 17700658 21182430 CATERPILLAR INC DEL 9167562 9613140 CITIGROUP INC COM NEW 10496335 12247860 COMCAST CORP NEW CL A 2402595 9907920 CONOCOPHILLIPS 6989950 5900615 DISNEY (WALT) CO COM STK 18159542 12760710 DOVER CORP 14280802 18591160 EMERSON ELEC CO 7493755 10100295 FEDEX CORP DELAWARE COM 3479744 9283890 GE AEROSPACE 8572172 22766835 GE VERNOVA LLC 2240110 11224736 GENL DYNAMICS CORP COM 3029947 12515775 HOME DEPOT INC 4750071 18671520 HONEYWELL INTL INC DEL 3390097 10165050 ISHARES MSCI USA 46718680 50826880 JPMORGAN CHASE & CO 2939306 16659845 MARRIOTT INTL INC NEW A 11142173 20418408 MARVELL TECH INC 10007108 26329292 MCDONALDS CORP COM 2299208 12073919 META PLATFORMS INC 1109418 23654604 MONDELEZ INTERNATIONAL 4000532 11946000 NVIDIA 13659597 138862140 ORACLE CORP $0.01 DEL 3227803 19996800 PALO ALTO NETWORKS INC 10489690 21875231 SALESFORCE INC 593630 20059800 STARBUCKS CORP 2825811 11223750 THERMO FISHER SCIENTIFIC 1148156 13057773 VANGUARD SMALL CAP VALUE 15833274 21898890 VISA INC CL A SHRS 15144494 21954351 WALMART INC 10730098 29815500 ADVANCED DRAIN SYS INC 515359 511414 AFFILIATED MANAGERS GRP 1633862 3142538 APTARGROUP INC 1878083 3229177 ARAMARK SHS 1744615 2829375 AVERY DENNISON CORP 1892901 1872984 BALL CORP COM 493733 570816 BIO TECHNE CORP COM STK 739957 1302268 BLACKBAUD INC 877599 1728344 BOOZ ALLEN HAMILTON HLDG 2708062 3784552 BROADRIDGE FINL 740368 1403952 BROWN & BROWN INC FLA 1569247 3723526 BURLINGTON STORES INC 2036890 3669862 CACI INTL INC CL A 2841420 3906452 CARLISLE COS INC 2331556 5475454 CASEYS GEN STORES INC 1906374 3363993 CHOICE HOTELS INTL NEW 1951918 3175951 COLUMBIA BKG SYS INC 849549 876810 COLUMBIA SPORTSWEAR CO 1887701 2379338 DOLBY LABORATORIES INC 3693549 3585805 ENVISTA HOLDINGS CORP 2610384 1640962 FACTSET RESH SYS INC 263485 1073559 FTI CONSULTING INC COM 1371692 1510883 GODADDY INC SHS CL A 2130598 5595440 GRACO INC 430931 1541895 HUNT J B TRANS SVCS INC 1202605 2107014 IDEX CORP DELAWARE COM 1214963 2367469 INSIGHT ENTRPRISES INC 645237 482461 JACK HENRY & ASSOC INC 743195 1374116 JONES LANG LASALLE INC 1268809 2347201 KINSALE CAPITAL GROUP 802818 1041891 KIRBY CORP COM 1216669 1725069 LANDSTAR SYS INC COM 1540976 2754191 LENNOX INTL INC 1330264 3382446 LKQ CORP 4183356 3714580 MANHATTAN ASSOCS INC 329459 1484428 MARKEL GROUP INC COM 2200201 4274145 MORNINGSTAR INC 2215543 4541739 NORDSON CORP 1327662 1679935 POOL CORPORATION 967212 1396149 PROSPERITY BANCSHARES 1023078 1168377 RPM INTERNATIONAL INC 1942560 3301788 SEI INVT CO PA PV $0.01 1930269 3551233 SERVICE CORP INTL 809654 1500979 SIMPSON MFG DEL PV $0.01 1186385 1160478 TELEFLEX INC 4473724 3522327 TRANSUNION 1447077 2465252 TRIMBLE INC 2688501 3387370 TYLER TECHS INC DEL COM 1247408 2015933 ULTA BEAUTY INC 836411 1338280 W R BERKLEY CORP 3561919 6701424 WEX INC 1753931 2170111 ABB LTD 524915 924517 ADIDAS AG 250096 300155 AIA GROUP LTD 684444 545498 AIR LIQUIDE FN 316625 372103 AIRBUS SE 424957 567712 AMADEUS IT GROUP SA 729895 798866 ANHEUSER-BUSCH INBEV SA/ 612341 435276 ASHTEAD GROUP PLC 10P FN 408575 319054 ASML HOLDING N.V. ORD SH 748088 806104 ASTRAZENECA PLC SHS FN 591219 776644 B AND M EUROPEAN VALUE R 186702 100985 BAE SYSTEMS PLC 470861 416353 BEIGENE LTD 177604 188958 BHP GROUP LTD 155412 126673 BP PLC 373932 288266 BRITISH AMERICAN TOBACCO 292756 264819 CANADIAN NATL RAILWAY CO 558784 458318 CAPGEMINI SA 639209 542387 CARLSBERG AS-B 374409 259484 CHUGAI PHARM LTD 4519 259311 231474 DAIICHI SANKYO CO LTD 651120 592804 DAIKIN INDUSTRIES 6367 347111 273726 DANONE S.A 260667 289754 DBS GROUP HOLDINGS LTD 381744 623205 DEUTSCHE BK REGD NPV 322794 347696 DNB BANK ASA REG SHS 298096 327577 DSV A/S 313754 461576 ENGIE 399909 446688 EPIROC AB REG SHS 640243 602306 ESSILORLUXOTTICA 532764 838504 EVOLUTION AB 196928 166184 FEDERATED HERMES GOVT 837152 837152 FERRARI NV 255967 259852 FUJITSU LTD 6702 271204 308940 GENMAB A/S 351848 245324 GIVAUDAN SA UNSP ADR 377976 547108 HERMES INTL S A 245258 560232 HITACHI CORP 6501 441504 646246 HONG KONG EXCHANGES AND 256274 322316 HOYA CORP 7741 194642 197771 IBERDROLA SA, BILBAO 247606 285661 IMPERIAL BRANDS PLC 263152 360887 INDUSTRIA DE DISENO TEXT 275724 627261 ITOCHU CORP ORD 8001 684030 774030 KEYENCE CORP 6861 FN 431403 472389 KONINKLIJKE KPN NV FN 289668 302830 L OREAL 633903 551156 L.V.M.H. EUR 0.3 766292 601467 LONDON STK EXCHANGE GROU 636749 1050955 MARUBENI CORP 8002 FN 319888 261789 MTU AERO ENGINES AG 209026 357650 MUNICH RE-INS REGD 410331 400215 NATIONAL GRID PLC REG SH 336414 297826 NATWEST GROUP PLC REG SH 415053 517882 NESTLE SA CHAM UND VEVE 804481 583166 NETEASE INC REG SHS 200425 157019 NITORI HOLDINGS 273969 171176 NOMURA RESEARCH INST4307 410932 419930 NOVO NORDISK A/S BR AND/ 799516 1073614 RECRUIT HOLDINGS CO.LTD. 332104 534489 RELX PLC 551824 662837 ROLLS-ROYCE HOLDI 470053 649323 SAFRAN SA 646363 1140536 SAP SE 1111644 1637116 SHIN ETSU CHEMICAL 4063 303057 370718 SHOPIFY INC CL A 73908 264655 SIKA AG NAMEN-AKT 493697 425578 SMC CORP 6273 373658 370231 SPOTIFY TECH S.A. REG 133663 131530 STRAUMANN HLDG AG NAMEN- 193621 217121 SUZUKI MOTOR CORP 7269 353296 346691 TAIWAN S MANUFCTRING ADR 500228 1017512 TDK CORP 6762 264933 444423 TENCENT HOLDINGS LTD SHS 438471 415392 TERUMO 4543 FN 178808 192757 TFI INTERNATIONAL INC 144970 359474 TOKYO ELECTRON 8035 FN 335884 335235 TOTALENERGIES SE 990441 879757 UNI CHARM CO LTD 8113 FN 272245 130397 UNICREDIT SPA 511422 547874 ACCENTURE PLC SHS 388584 418278 AERCAP HOLDINGS N.V. SHS 554746 601092 AGNICO EAGLE MINES LTD 401203 376659 ALIBABA GROUP HOLDING LT 1004157 801350 ARGENX SE 389004 503685 ARM HLDGS PLC 178763 176281 ASML HLDG NV NY REG SHS 1112227 1169226 ASTRAZENECA PLC SPND ADR 815510 752104 CAMECO CORP COM 561425 767818 CANADIAN IMPERIAL BANK 814888 844753 CANADIAN PAC KANS CITY 386747 371403 COCA-COLA EUROPACIFIC 742063 791757 CRH PLC 528105 541427 DIAGEO PLC SPSD ADR NEW 635172 569415 EATON CORP PLC 721588 832994 FERRARI NV 662799 686966 FLUTTER ENTERTAINMENT 384325 377079 GLOBANT S A 360648 379309 H WORLD GROUP LTD 613699 487027 HDFC BANK LTD ADR 398887 437377 HSBC HLDG PLC SP ADR 930524 1117450 ING GP NV SPSD ADR 614267 591574 ISHARES MSCI INDIA SMALL 401854 364208 ISHARES MSCI JAPAN ETF 1509989 1517869 ISHARES MSCI SOUTH KOREA 770121 616634 JOHNSON CONTROLS INTER 405739 426459 KB FINL GROUP INC SPN AD 577001 532982 LINDE PLC NEW 614369 710902 MAKEMYTRIP LIMITED 413107 517049 MITSUBISHI UFJ FINL GRP 874310 1134918 MIZUHO FINL GROUP INC 594629 719309 NATIONAL GRID PLC SHS 1332723 1197075 NOVARTIS ADR 841204 733328 NOVO NORDISK A S ADR 1583175 1272838 ORIX CORPORATION SP ADR 725360 684546 PDD HOLDINGS INC 219350 203970 RELX PLC 882121 1007431 RENAISSANCERE HLDGS LTD 932045 942492 RYANAIR HOLDINGS PLC SHS 465531 495182 SANOFI ADR 922886 833366 SAP SE SHS 797302 1036298 SEA LTD 400093 519466 SHELL PLC 1077186 1058973 SHOPIFY INC CL A 172447 379811 SONY GROUP CORP 768227 944582 SUNCOR ENERGY INC NEW 580462 562495 TAIWAN S MANUFCTRING ADR 958623 2040862 TECK RESOURCES LTD CLS B 525325 521945 TELEFONICA SA SPAIN ADR 756517 666391 THOMSON REUTERS CORP REG 683532 750097 TORONTO DOMINION BANK 441572 366664 TOYOTA MOTOR CORP ADR 373866 436899 UNILEVER PLC NEW ADR 1071876 962142 XTRACKERS HARVST CSI 300 579313 559655 ABM INDUSTRIES INC COM 273183 409184 AGIOS PHARMACEUTICALS 315177 291600 ALAMO GROUP INC 293095 261389 AMERESCO CLASS A 231401 161096 AMICUS THERAPEUTICS INC 450241 315966 APPLIED INDUSTRL TECH 214260 754809 ARCBEST CORPORATION 204851 167976 ARDELYX INC SHS 378392 255700 ARMADA HOFFLER PPTYS INC 209332 147772 ARTIVION INC 352894 375530 ASGN INC 384467 455286 ASSOCIATED BANC CRP .01 268440 298989 ATKORE INC 207576 115161 ATN INTERNATIONAL INC 166627 49186 ATRICURE INC 495736 369776 AXSOME THERAPEUTICS INC. 297057 293766 AZENTA INC 200983 212600 BALDWIN INS GRP INC/THE 328060 516283 BLACK HILLS CORP 465295 395712 BLUEPRINT MEDICINES CORP 422462 468371 BOISE CASCADE CO DEL 157205 557097 BOX INC CL A 213567 266040 BRINKER INTL INC 332327 788581 CASELLA WASTE SYS INC A 272058 523019 CHART INDS INC 372700 459161 CITY HOLDING CO CHARLSTN 199186 309825 CLEARWTR ANALYTICS 171140 234140 CNO FINL GROUP INC 282081 424566 COLUMBUS MCKINNON CP N.Y 391474 390871 CONMED CORP COM 372194 319478 CONSTRUCTION PARTNERS 190570 425139 CUSHMAN AND WAKEFIELD 213585 352454 DANA INC 185097 152800 DIAMONDROCK HOSPITALITY 239396 231005 ENTERPRISE FINL SVCS CRP 194671 260794 ESCO TECHNOLOGIES INC 194904 299856 ESSENT GROUP LTD 320772 428661 ESSENTIAL PPTYS RLTY TR 296027 363348 EXLSERVICE HLDGS INC 195648 612178 FEDERAL SIGNAL CORP 215949 692555 FIRST ADVANTAGE CORP NEW 160374 187169 FIRST BANCORP N C COM 194897 265711 FIRST FINANCIAL BANCORP 313216 326108 FIRST INTST BANCSYSTEM 408333 331714 FOUR CORNERS PROPERTY TR 331927 330240 FTAI AVIATION LTD 329702 319481 H AND E EQUIP SVCS INC 257214 286318 HALOZYME THERAPEUTICS 350970 521655 HAMILTON LANE INC REG SH 157328 330300 HUB GROUP INC CL A 153841 248467 ICHOR HOLDINGS LTD REG 243187 193578 IMAX CORP 316544 420429 INDEPENDENCE RLTY TR INC 448051 498024 INDEPENDENT BK CORP MASS 349941 316072 INDEPENDENT BK GROUP INC 275087 327315 INSMED INC 238208 631233 INTL SEAWAYS INC REG SHS 103532 68142 INTRA-CELLULAR THERAPIES 119277 176478 IOVANCE BIOTHERAPEUTICS 175199 141103 J & J SNACK FOODS CRP 487156 449412 JANUS PARENT INC REG SHS 112813 95167 KADANT INC 160157 500236 KAISER ALUM CORP 285864 218259 KB HOME 156288 339115 KITE REALTY GROUP TR SHS 321195 444558 KONTOOR BRANDS INC REG 311193 427477 LA-Z-BOY INC MICHIGAN 185669 226259 LANTHEUS HLDGS INC 307348 381547 LIBERTY ENERGY INC 156866 162342 LIGAND PHARMACEUTICALS 233925 434279 LXP INDUSTRIAL TRUST 273117 221587 MAGNOLIA OIL & GAS CORP 389767 403141 MALIBU BOATS INC SHS 148925 134234 MERIT MEDICAL SYS INC 235246 559622 MINERALS TECHNOLOGIES 530949 678505 MODINE MFG CO 291802 281014 MONTROSE ENVIRONMENTAL 161485 66539 MYR GROUP INC DEL 168015 543606 NEOGENOMICS INC 468153 312230 NMI HOLDINGS INC SHS 213806 400463 NORTHWESTERN ENE GR INC 406750 355562 OLD NATL BANCORP IND 476415 586556 OMNIAB INC REG SHS 147942 84096 OMNICELL INC 451629 258750 ONESPAWORLD HLDGS LTD 137043 198821 PACIFIC PREMIER BANCORP 250065 262158 PATTERSON UTI ENERGY INC 613145 455869 PERELLA WEINBERG 95639 113145 PERMIAN RES CORP 467809 654765 PHILLIPS EDISON AND CO 187882 238770 PJT PARTNERS INC SHS 191816 384741 PRESTIGE CONSUMER 334393 708432 PROGRESS SOFTWARE CORP 266649 311873 QUAKER HOUGHTON 300999 242811 Q2 HOLDINGS INC SHS 188378 698209 RAPID7 ORD 334139 299995 RENASANT CORP 153559 172422 RUBRIK INC REG SHS CL A 42853 91046 RXO INC REG SHS 164917 141133 SCORPIO TANKERS INC REG 183713 130585 SELECTIVE INS GRP INC 428056 536431 SEMTECH CORPORATION 360209 510510 SILICON LABS INC 349910 430298 SM ENERGY CO SHS 398254 375778 SONIC AUTOMOTIVE INC A 196966 247445 SOUTHSTATE CORP 353610 450445 SPIRE INC 403588 364164 SPROUT SOCIAL INC REG 220961 169151 SPS COMM INC 365687 474510 STEVEN MADDEN LTD SHS 459690 631847 SUMMIT MATLS INC 470014 815976 SUN CTRY AIRLINES 359623 247146 SUPERNUS PHARMACEUTICALS 316445 449794 TAYLOR MORRISON HOME 212071 539689 TECNOGLASS INC 134204 336000 TEEKAY TANKERS LTD REG 107323 64619 TERRENO REALTY CORP SHS 324890 319001 TRANSMEDICS GROUP INC 178490 246968 TRAVERE THERAPEUTICS INC 308989 319030 UL SOLUTIONS INC 43070 51825 UNITED COMMUNITY BANKS 261999 324489 URBAN OUTFITTERS INC 319544 446229 VALLEY NATL BANCORP N J 265628 228484 VARONIS SYSTEMS INC SHS 409348 496772 VERINT SYSTEMS INC 357982 252842 WARBY PARKER INC REG SHS 137459 204260 WERNER ENTERPRISES INC 263207 232798 WESBANCO INC 246954 238844 WNS (HOLDINGS) LTD REG 260522 219179 WORKIVA INC CL A 286573 333209 WORTHINGTON INDSTRS OHIO 120048 169064 WSFS FINANCIAL CORP 257882 372593 YELP INC CL A 205857 251318 YETI HLDGS INC 203566 198596 ZURN ELKAY WATER 219803 444392 GREENLIGHT BIO 5000000 551531 PROPERTY 1 5860000 5860000 PROPERTY 2 8500000 8500000 PROPERTY 3 4000000 4000000 PROPERTY 4 5300000 5300000 PROPERTY 5 17500000 17500000 PROPERTY 6 7409869 7409869 PROPERTY 7 7000000 7000000 PROPERTY 8 5700000 5700000 PROPERTY 9 5900000 5900000 PROPERTY 10 460000 460000 PROPERTY 11 2100000 2100000 PROPERTY 12 3300000 3300000 PROPERTY 13 19400000 19400000 PROPERTY 14 9500000 9500000 PROPERTY 15 19800000 19800000 PROPERTY 16 3300000 3300000 PROPERTY 17 3800000 3800000 PROPERTY 18 8100000 8100000 PROPERTY 19 49700000 49700000 PROPERTY 20 11800000 11800000 PROPERTY 21 1280000 1280000 PROPERTY 22 5300000 5300000 PROPERTY 23 7600000 7600000 PROPERTY 24 4400000 4400000 PROPERTY 25 3500000 3500000 PROPERTY 26 5500000 5500000 PROPERTY 27 3100000 3100000 PROPERTY 28 11300000 11300000 PROPERTY 29 22800000 22800000 PROPERTY 30 13800000 13800000 PROPERTY 31 4900000 4900000 PROPERTY 32 15100000 15100000 PROPERTY 33 17200000 17200000 PROPERTY 34 12700000 12700000 PROPERTY 35 18000000 18000000 PROPERTY 36 5200000 5200000 PROPERTY 37 6200000 6200000 PROPERTY 38 18540000 18540000 PROPERTY 39 5300000 5300000 PROPERTY 40 20000000 20000000 PROPERTY 41 23200000 23200000 PROPERTY 43 351800 351800 PROPERTY 44 3500000 3500000 PROPERTY 45 3400000 3400000 PROPERTY 46 9200000 9200000 PROPERTY 47 7000000 7000000 PROPERTY 48 6000000 6000000 PROPERTY 49 7600000 7600000 PROPERTY 50 6900000 6900000 PROPERTY 51 9900000 9900000 PROPERTY 52 13400000 13400000 PROPERTY 53 10800000 10800000 PROPERTY 54 13600000 13600000 PROPERTY 55 21500000 21500000 PROPERTY 56 3750000 3750000 COMMONFUND 711546758 1100064049 COURTAGEN LIFE 190442 34562 PROVIDENCE EQUITY PARTNERS VII 4256214 7623564 PROV EQUITY VIII LP 18780372 30190967 CARLYLE GROUP 2323390 720764 BLACKSTONE ALTERNATIVES 2575321 1471386 BLACKSTONE LIFE SCIENCES 9639531 15023145 LONGWOOD VI 3625474 3916616 KKR 13407831 10737057 LONGWOOD V 2605359 2377882 SJC ONSHORE FUND IV 45510415 45904913 TPG PTRS HEALTHCARE 9673833 13791100 TPG PTRS VIII LP 9993920 14951667 TPG PTRS 10A 1847266 277983 TPG HC PTRS LEADERS 10709208 13492281 SJC ONSHORE 26255120 22286609 CRESCENT MEZZANINE PTRS 8466666 9471752 CLAREANT SCF 7266600 4955071 HIGHLAND CAPITAL PRTS 8970014 12462160 CARLYLE EUROPE 31539468 39211356 STRATEGIC PTNR OFFSHORE VIII 23790440 32129963 WCAS XIII, LP 15322756 25026805 STP IX LP 21203215 28555985 APOLLO INVESTMENT IX LP 14784941 24231398 CYBERNETIX 2227744 2271719 HIGHLANDX FUND I 14283105 13634283 WCAS XIV 7501485 8439342 HUNTER POINT 7167676 9409816 TPG HC PTRS II 1522508 2288231 TPG PTRS IX 9149656 11504520 APOLLO INVESTMENT X LP 7366451 8477863 SLP VII 3502953 5162743 LONGWOOD SPECIAL 2119041 2094103 TPG GROWTH 3933029 5825661 CARLYLE BUYOUT VII 13442064 17606976 ORBIMED HEALTHCARE 5418748 2873025 SLP V TECHNOLOGY 15224397 21335541 SLP VI TECHNOLOGY 14246904 17374054 THE CHILDRENS 9631879 42663328 BASIS ADJ FOR CONTRIBUTED PROPERTY 268954 CHSL MATERIALS, SUPPLIES & SER 51407804 51536500 INVESTMENT EXPENSE 47920779 47920779 47920779 CONTRACT SERVICES 568988 849463 SUPPLIES 2206649 2217295 REPAIR & MAINTENANCE 1097565 5603 1117921 INSURANCE 236492 2126 157254 TELEPHONE 98899 98899 ADVERTISING 98293 115015 ACTIVITIES & SERVICES 321166 323471 OFFICE SERVICES 31872 31966 DUES & SUBSCRIPTIONS 623 623 STAFF TRAINING\SEMINARS 2529 2529 ADP PAYROLL FEES 17328 17328 EMPLOYEE APPRECIATION 46426 46240 MISC PETTY CASH EXPENSE 13427 13427 SALES EXPENSE 212340 211440 LICENSE & FEES 20724 23424 STATE FILING FEES 2000 2000 Cummings Health Sciences, LLC INCOME 120905549 120905549 INVESTMENT INCOME - DISREGARDED ENTITY 82779694 82779694 82779694 PROGRAM SERVICE REVENUE 23256767 23256767 OTHER PARTNERSHIP INCOME 26494132 26494132 26494132 INVESTMENT INCOME - ALTERNATIVE INVEST -2037174 -2037174 -2037174 BOOK SALES INCOME 7738 7738 7738 VENDING INCOME 28717 28717 28717 UNRELATED BUSINESS INCOME FROM K-1'S -2459664 -2459664 contract revenue 568798 568798 LITIGATION SETTLEMENT INCOME 1229 1229 1229 DEPOSITS & PREPAYMENTS 33535850 31840238 MISC. PROFESSIONAL FEES 5900 5900 FEDERAL TAX EXPENSES 3064163 3064163 FOREIGN TAX EXPENSES 602173 602173 602173 CUMMINGS FOUNDATION PRIVATE CAPITAL LP 15 OLD DANBURY ROAD WILTON CT 06897 901028644 WITHDRAWALS AND DISTRIBUTIONS - NOT AN EXCESS BUSINESS HOLDING. 59191500 59191500 NHC REALTY INC 200 WEST CUMMINGS PARK WOBURN MA 01801 300553218 No transfers were made in 2024. Not an excess business holding. 0 HEM REALTY INC 200 WEST CUMMINGS PARK WOBURN MA 01801 300553220 No transfers were made in 2024. Not an excess business holding. 0 CUMMINGS FOUNDATION GRANTS INC 200 West Cummings Park Woburn MA 01801 800681389 ENDOWMENT GRANT. NOT AN EXCESS BUSINESS HOLDING. 32713666 CUMMINGS FOUNDATION PRIVATE CAPITAL LP 15 OLD DANBURY ROAD WILTON CT 06897 901028644 Capital Contributions - Not an excess business holding. 77937500 110651166