2023-11-15T11:30:33-06:00 2022-12-31 042233412 ROPES & GRAY LLP 800 BOYLSTON ST 45TH FL BOSTON MA 021993600 990PF 2022-01-01 046050704 THE ELLISON FOUNDATION ELTON DREW ET AL TRUSTEES ELLI 7815844755 CO ROPES GRAY LLP 800 BOYLSTON BOSTON MA 021993600 ELTON DREW TRUSTEE 7815844755 2023-11-15 1 ELTON DREW 999009999 0 MATTHEW J SCANLON P00722196 6179517000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X 76012638 X X 1270004 1270095 1374821 20656194 1375538 2644825 2645633 301355 0 301355 15550 7775 7775 285305 285305 0 192 148432 0 0 2524 0 2524 753166 293272 311654 2583300 2583300 3336466 293272 2894954 -691641 2352361 150908 153888 153888 1992255 1168043 1168043 3484857 5181603 5181603 14382363 13359232 13359232 2926973 2670706 2670706 72904801 53479166 53479166 95842157 76012638 76012638 0 0 X 95842157 76012638 95842157 76012638 95842157 76012638 95842157 -691641 100000 95250516 19237878 76012638 NATIONAL FINANCIAL SERVICES LLP P 521840 560229 -38389 -38389 NATIONAL FINANCIAL SERVICES LLP P 60047 59737 310 310 NATIONAL FINANCIAL SERVICES LLP P 3184314 3308805 -124491 -124491 NATIONAL FINANCIAL SERVICES LLP P 487363 273976 213387 213387 NATIONAL FINANCIAL SERVICES LLP P 2956075 3880747 -924672 -924672 NATIONAL FINANCIAL SERVICES LLP P 10909189 10138268 770921 770921 NATIONAL FINANCIAL SERVICES LLP P 380139 387033 -6894 -6894 NATIONAL FINANCIAL SERVICES LLP P 657266 672578 -15312 -15312 GEM REALTY FUND VII LP P 717 717 717 CAPITAL GAINS DIVIDENDS P 1499961 1499961 1499961 1375538 32698 0 32698 0 32698 105681 0 0 0 105681 0 72983 72983 0 0 0 0 0 0 0 0 0 0 0 1 1 MA 1 0 0 0 0 1 N/A ELTON DREW 7815844755 2 CAPTAIN DANIEL ROAD SOUTH YARMOUTH MA 02664 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ANDREW SILVERMAN PO BOX 2990 FRAMINGHAM MA 01703 TRUSTEE 4.00 100000 0 0 ELTON F DREW 2 CAPTAIN DANIEL ROAD SOUTH YARMOUTH MA 02664 TRUSTEE 15.00 120000 0 0 MARTIN HALL ROPES GRAY 800 BOYLSTON ST BOSTON MA 021993600 TRUSTEE 3.00 81355 0 0 NONE 0 ROPES & GRAY LLP 800 BOYLSTON STREET BOSTON MA 021993600 INVESTMENT ADVISORY AND TAX PREP 259614 0 0 80217288 1489493 0 81706781 0 0 81706781 1225602 80481179 4024059 4024059 32698 32698 3991361 0 3991361 0 3991361 2894954 0 2894954 3991361 0 0 1310877 1367733 2678610 2894954 0 0 0 2894954 0 1096407 1096407 1582203 0 0 0 0 0 0 214470 1367733 1367733 X AMERICAN CANCER SOCIETY 1025 CONNECTICUT AVENUE WASHINGTON DC 20004 NONE PUBLIC CHARITY GENERAL FUND 550000 BOSTON CHILDREN'S HOSPITAL 300 LONGWOOD AVENUE BOSTON MA 02115 NONE PUBLIC CHARITY GENERAL FUND 125000 BOSTON MEDICAL CENTER ONE BOSTON MEDICAL CENTER PL BOSTON MA 02118 NONE PUBLIC CHARITY GENERAL FUND 188300 BRIGHAM & WOMENS HOSPITAL 75 FRANCIS STREET BOSTON MA 02115 NONE PUBLIC CHARITY GENERAL FUND 100000 CITY YEAR 285 COLUMBUS AVENUE BOSTON MA 02116 NONE PUBLIC CHARITY GENERAL FUND 100000 CROSSROADS FOR KIDS 119 MYRTLE STREET DUXBURY MA 02332 NONE PUBLIC CHARITY GENERAL FUND 100000 DANA FARBER CANCER INSTITUTE 450 BROOKLINE AVE BOSTON MA 02115 NONE PUBLIC CHARITY GENERAL FUND 100000 DUXBURY BAY MARITIME SCHOOL PO BOX 263A SHS DUXBURY MA 02331 NONE PUBLIC CHARITY GENERAL FUND 100000 DUXBURY BEACH RESERVATION PO BOX 1364 DUXBURY MA 02331 NONE PUBLIC CHARITY GENERAL FUND 20000 DUXBURY SENIOR CENTER PO BOX 2113 DUXBURY MA 02331 NONE PUBLIC CHARITY GENERAL FUND 20000 MAKE-A-WISH FOUNDATION ONE BULLFINCH PLACE BOSTON MA 02114 NONE PUBLIC CHARITY GENERAL FUND 100000 MASS EYE & EAR HOSPITAL 243 CHARLES STREET BOSTON MA 02114 NONE PUBLIC CHARITY GENERAL FUND 75000 MASS GENERAL HOSPITAL 55 FRUIT STREET BOSTON MA 02114 NONE PUBLIC CHARITY GENERAL FUND 200000 PINE STREET INN 444 HARRISON AVE BOSTON MA 02118 NONE PUBLIC CHARITY GENERAL FUND 100000 ROSIE'S PLACE 889 HARRISON AVE BOSTON MA 02118 NONE PUBLIC CHARITY GENERAL FUND 100000 SOUTH SHORE CONSERVATORY THE ELLISON CENTER FOR THE ARTS DUXBURY MA 02331 NONE PUBLIC CHARITY GENERAL FUND 100000 THE PARTRIDGE SCHOLARSHIP FUND PO BOX 2552 DUXBURY MA 02331 NONE PUBLIC CHARITY GENERAL FUND 25000 THE SALVATION ARMY 147 BERKELEY STREET BOSTON MA 02116 NONE PUBLIC CHARITY GENERAL FUND 75000 TUFTS UNIVERSITY SCHOOL OF MEDICINE 145 HARRISON AVENUE BOSTON MA 02111 NONE PUBLIC CHARITY GENERAL FUND 225000 TWOTEN INTERNATIONAL FOOTWEAR FOUNDATION 1466 MAIN STREET WALTHAM MA 02451 NONE PUBLIC CHARITY GENERAL FUND 30000 USS CONSTITUTION MUSEUM PO BOX 291812 BOSTON MA 02129 NONE PUBLIC CHARITY GENERAL FUND 50000 WEST BOYLSTON JRSR HIGH SCHOOL ELLISON FUND FOR MUSIC WEST BOYLSTON MA 01583 NONE PUBLIC CHARITY GENERAL FUND 100000 2583300 0 14 1270004 18 1374821 0 2644825 0 2644825 0 0 0 0 0 0 0 0 0 0 ROPES & GRAY LLP TAX PREP 15550 7775 7775 FORM 990-PF, PART VII-B, LINE 1(A)(4) FORM 990-PF - PART VII-B, LINE 1(A)(4) - OFFICERS AND COMPENSATIONTHE TRUSTEE, MARTIN HALL, WAS A PARTNER OF ROPES & GRAY, LLP AND BY AGREEMENT WITH ROPES & GRAY, LLP, TURNED OVER ALL FEES RECEIVED TO THE FIRM. PAYMENTS IN THE AMOUNT OF $340,969 WERE MADE TO ROPES & GRAY LLP, 800 BOYLSTON STREET, BOSTON, MA 02199-3600 FOR TAX PREP, INVESTMENT ADVISORY AND TRUSTEE FEES. MARTIN HALL WAS A PARTNER OF THE FIRM HAVING MORE THAN 300 ACTIVE PARTNERS. PAYMENTS FOR THESE SERVICES WERE MADE IN ACCORDANCE WITH THE TRUST DOCUMENTS. 50000 SHELL INTERNATIONAL FIN BV NOTE 4.00000% 05/10/2046 CALL MAKE WHOLE 40771 40771 230000 GOLDMAN SACHS GROUP INC NOTE 3.85000% 01/26/2027 CALL MAKE WHOLE 218988 218988 140000 COMMONWEALTH EDISON CO SER 125 BOND 3.70000% 08/15/2028 CALL MAKE WHO 131732 131732 120000 FISERV INC NOTE CALL MAKE WHOLE 2.25000% 06/01/2027 107098 107098 104000 COMCAST CORP NEW NOTE CALL MAKE WHOLE 3.55000% 05/01/2028 97662 97662 150000 UNITEDHEALTH GROUP INC NOTE 3.70000% 05/15/2027 CALL MAKE WHOLE 145097 145097 149000 BOEING CO NOTE CALL MAKE WHOLE 2.19600% 02/04/2026 135375 135375 125000 DUKE ENERGY CORP NEW NOTE CALL MAKE WHOLE 2.55000% 06/15/2031 101851 101851 84000 AMERICAN EXPRESS CO NOTE 3.95000% 08/01/2025 82290 82290 61000 ANALOG DEVICES INC NOTE CALL MAKE WHOLE 2.10000% 10/01/2031 49255 49255 48000 CIGNA CORP NEW NOTE CALL MAKE WHOLE 2.40000% 03/15/2030 40211 40211 70000 VISA INC NOTE CALL MAKE WHOLE 4.30000% 12/14/2045 63900 63900 180000 CITIGROUP INC NOTE CALL MAKE WHOLE 3.20000% 10/21/2026 166529 166529 72000 AMGEN INC NOTE CALL MAKE WHOLE 2.45000% 02/21/2030 60584 60584 90000 APPLE INC NOTE CALL MAKE WHOLE 3.45000% 02/09/2045 72338 72338 93000 LOWES COS INC NOTE CALL MAKE WHOLE 1.70000% 10/15/2030 72726 72726 117000 ANHEUSER BUSCH INBEV FIN INC NOTE 4.90000% 02/01/2046 CALL MAKE WHOLE 106362 106362 47000 COMCAST CORP NEW NOTE CALL MAKE WHOLE 4.70000% 10/15/2048 41980 41980 78000 BOEING CO NOTE CALL MAKE WHOLE 2.60000% 10/30/2025 72480 72480 80000 RAYTHEON TECHNOLOGIES CORP 3.95000% 08/16/2025 NOTE CALL MAKE WHOLE 78155 78155 60000 MICROSOFT CORP NOTE CALL MAKE WHOLE 2.52500% 06/01/2050 39483 39483 95000 AT&T INC NOTE CALL MAKE WHOLE 4.35000% 03/01/2029 90342 90342 150000 AMERICAN TOWER CORP NOTE CALL MAKE WHOLE 2.70000% 04/15/2031 122093 122093 109000 AT&T INC NOTE CALL MAKE WHOLE 4.75000% 05/15/2046 92150 92150 109000 WALMART INC NOTE CALL MAKE WHOLE 4.05000% 06/29/2048 96733 96733 70000 CAPITAL ONE FINL CORP NOTE 3.90000% 01/29/2024 69122 69122 115000 VERIZON COMMUNICATIONS INC 3.55000% 03/22/2051 NOTE CALL MAKE WHOLE 81920 81920 120000 ORACLE CORP NOTE CALL MAKE WHOLE 2.87500% 03/25/2031 99496 99496 80000 CAPITAL ONE FINL CORP NOTE 4.16600% 05/09/2025 78143 78143 100000 WELLS FARGO &CO SER Q MTN 2.57200% 02/11/2031 CALL MAKE WHOLE 82807 82807 66000 HOME DEPOT INC NOTE CALL MAKE WHOLE 2.75000% 09/15/2051 43123 43123 93000 ADOBE INC NOTE CALL MAKE WHOLE 1.90000% 02/01/2025 87855 87855 60000 MARSH &MCLENNAN COS INC NOTE 2.37500% 12/15/2031 CALL MAKE WHOLE 48453 48453 57000 GENERAL MTRS FINL CO INC NOTE 3.80000% 04/07/2025 CALL MAKE WHOLE 55022 55022 144000 MORGAN STANLEY SER I MTN 2.69900% 01/22/2031 CALL MAKE WHOLE 118994 118994 41000 DISCOVERY COMMUNICATIONS LLC 3.62500% 05/15/2030 NOTE CALL MAKE WHOLE 33788 33788 281000 JPMORGAN CHASE &CO NOTE 3.30000% 04/01/2026 266368 266368 90000 SHIRE ACQUISITIONS INVESTMENTS IREL 3.20000% 09/23/2026 NOTE CALL MAKE 84407 84407 160000 BK OF AMERICA CORP SER N MTN 4.37600% 04/27/2028 CALL MAKE WHOLE 153011 153011 130000 ENTERGY MISSISSIPPI LLC BOND 2.85000% 06/01/2028 CALL MAKE WHOLE 115404 115404 125000 SIMON PPTY GROUP LP NOTE CALL MAKE WHOLE 2.65000% 02/01/2032 100059 100059 139000 INTERCONTINENTAL EXCHANGE INC NOTE 1.85000% 09/15/2032 CALL MAKE WHOL 104559 104559 25000 CVS HEALTH CORP NOTE CALL MAKE WHOLE 4.30000% 03/25/2028 24181 24181 80000 ENTERPRISE PRODS OPER LLC NOTE 5.95000% 02/01/2041 CALL MAKE WHOLE 80147 80147 100623.477 METROPOLITAN WEST TOTAL RETURN BOND P 853287 853287 2503.873 STONERIDGE REINSURAC RISK PREM INTERVAL 99604 99604 29797.046 VANGUARD WELLESLEY INCOME ADMIRAL 1765177 1765177 196850.394 VANGUARD SHORT TERM INVMT GRADE ADMIRAL 1958661 1958661 128000 SBA COMMUNICATIONS CORP SER B NOTE 3.12500% 02/01/2029 CALL MAKE WHOL 106431 106431 114000 REYNOLDS AMERICAN INC NOTE 4.45000% 06/12/2025 CALL MAKE WHOLE 111522 111522 148000 MICROCHIP TECHNOLOGY INC. SER B NOTE 4.25000% 09/01/2025 143670 143670 13000 AT&T INC NOTE CALL MAKE WHOLE 4.25000% 03/01/2027 12649 12649 115000 ALTRIA GROUP INC NOTE CALL MAKE WHOLE 4.40000% 02/14/2026 112580 112580 49000 BALL CORP NOTE CALL MAKE WHOLE 5.25000% 07/01/2025 48361 48361 116000 KRAFT HEINZ FOODS CO SER B NOTE 3.87500% 05/15/2027 CALL MAKE WHOLE 110826 110826 127000 ORACLE CORP NOTE CALL MAKE WHOLE 2.30000% 03/25/2028 110004 110004 117000 WESTERN DIGITAL CORP. NOTE 4.75000% 02/15/2026 CALL MAKE WHOLE 110181 110181 115000 DOLLAR TREE INC NOTE CALL MAKE WHOLE 4.00000% 05/15/2025 112271 112271 119000 DISCOVERY COMMUNICATIONS LLC 3.95000% 03/20/2028 NOTE CALL MAKE WHOLE 105623 105623 148000 SERVICE CORP INTL NOTE 4.62500% 12/15/2027 138239 138239 150000 ENCOMPASS HEALTH CORP NOTE 4.50000% 02/01/2028 CALL MAKE WHOLE 136260 136260 44000 ZIMMER BIOMET HOLDINGS INC NOTE 3.55000% 04/01/2025 CALL MAKE WHOLE 42486 42486 144000 BOYD GAMING CORP SER B NOTE 4.75000% 12/01/2027 134119 134119 29000 QVC INC NOTE CALL MAKE WHOLE 4.75000% 02/15/2027 20525 20525 151000 SPECTRUM BRANDS INC NOTE 5.75000% 07/15/2025 149291 149291 122000 WABTEC NOTE CALL MAKE WHOLE 4.95000% 09/15/2028 117126 117126 126000 BROADCOM CORP/BROADCOM CAYMAN 3.87500% 01/15/2027 SER B NOTE CALL MAK 119182 119182 133000 HCA INC. NOTE CALL MAKE WHOLE 5.62500% 09/01/2028 132246 132246 118000 TELEFLEX INCORPORATED NOTE 4.62500% 11/15/2027 112465 112465 139000 AECOM NOTE CALL MAKE WHOLE 5.12500% 03/15/2027 ISIN #US00774CAB37 133788 133788 49000 QVC INC NOTE CALL MAKE WHOLE 4.45000% 02/15/2025 39996 39996 71000 AMC NETWORKS INC NOTE 4.75000% 08/01/2025 53960 53960 149000 SILGAN HOLDINGS INC SER B NOTE 4.12500% 02/01/2028 137849 137849 153000 LAMAR MEDIA CORP SER B NOTE 3.75000% 02/15/2028 CALL MAKE WHOLE 136952 136952 25000 BATH &BODY WORKS INC NOTE CALL MAKE WHOLE 7.50000% 06/15/2029 24680 24680 150000 CDW LLC / CDW FIN CORP NOTE 4.25000% 04/01/2028 138050 138050 75000 ZIMMER BIOMET HOLDINGS INC NOTE 3.05000% 01/15/2026 CALL MAKE WHOLE 70716 70716 159000 TREEHOUSE FOODS INC NOTE CALL MAKE WHOLE 4.00000% 09/01/2028 135150 135150 39000 NEWELL BRANDS INC NOTE CALL MAKE WHOLE 6.37500% 09/15/2027 38708 38708 121000 QORVO INC SER B NOTE 4.37500% 10/15/2029 CALL MAKE WHOLE 106993 106993 52000 QVC INC NOTE CALL MAKE WHOLE 4.85000% 04/01/2024 48100 48100 22000 AMERICAN TOWER CORP NOTE CALL MAKE WHOLE 3.50000% 01/31/2023 21974 21974 150000 TEGNA INC SER B NOTE 4.62500% 03/15/2028 CALL MAKE WHOLE 142455 142455 89000 BALL CORP NOTE CALL MAKE WHOLE 4.87500% 03/15/2026 86208 86208 29000 WILLIS NORTH AMER INC NOTE 3.60000% 05/15/2024 CALL MAKE WHOLE 28209 28209 130000 BLOCK FINL LLC NOTE CALL MAKE WHOLE 2.50000% 07/15/2028 110501 110501 81000 TRANSDIGM INC SER B NOTE 5.50000% 11/15/2027 76063 76063 99000 AT&T INC SER B NOTE 4.10000% 02/15/2028 CALL MAKE WHOLE 94341 94341 94000 AMERICAN TOWER CORP NOTE CALL MAKE WHOLE 4.00000% 06/01/2025 91586 91586 48000 MOTOROLA SOLUTIONS INC NOTE 4.60000% 02/23/2028 CALL MAKE WHOLE 46490 46490 90000 TRINITY ACQUISITION PLC NOTE 4.62500% 08/15/2023 CALL MAKE WHOLE 89518 89518 142000 SCOTTS MIRACLE-GRO CO SER B NOTE 4.50000% 10/15/2029 CALL MAKE WHOLE 115020 115020 113000 EXPEDIA GROUP INC SER B NOTE 4.62500% 08/01/2027 CALL MAKE WHOLE 108407 108407 148000 OLIN CORP NOTE CALL MAKE WHOLE 5.62500% 08/01/2029 140600 140600 68000 GLOBAL PMTS INC NOTE CALL MAKE WHOLE 4.80000% 04/01/2026 66163 66163 71000 UNITED RENTALS NORTH AMER INC NOTE 5.50000% 05/15/2027 70091 70091 94000 CARLISLE COS INC NOTE CALL MAKE WHOLE 3.50000% 12/01/2024 90834 90834 5181603 5181603 0 0 67493.409 VANGUARD SMALL-CAP VALUE INDEX ADMIRAL AT COST 4606425 4606425 127534.549 JPMORGAN HEDGED EQUITY CLASS I AT COST 3129101 3129101 71540.456 DRIEHAUS EMERGING MKTS GROWTH INSTL AT COST 2280710 2280710 138491.003 WCM FOCUSED INTL GROWTH FUND INSTL AT COST 2722733 2722733 242158.533 ARTISAN INTL SMALL-MID CAP INSTL AT COST 3835791 3835791 632673.195 GQG PARTNERS US QUALITY SEL EQ INSTL AT COST 9920316 9920316 27718.429 VANGUARD INSTL INDEX INSTL CLASS AT COST 8915078 8915078 220151.514 EDGEWOOD GROWTH FUND INSTL CL AT COST 6890742 6890742 88676.352 VANGUARD VALUE INDEX ADMIRAL AT COST 4855917 4855917 163879.725 ARTISAN INTL VALUE FUND INSTL AT COST 6285529 6285529 30526.63 GEM REALTY FUND VII AT COST 30527 30527 6297 BAIN CAPITAL REAL ESTATE LIFE SCIENCE FUND AT COST 6297 6297 CHANGE IN NET UNREALIZED GAINS AND LOSSES ON INVESTMENTS 19142878 PRIOR YEAR CHECKS CASHED IN CURRENT YEAR 95000 COMMONWEALTH OF MASS FILING FEE 500 0 500 BANK FEES 24 0 24 COMPUTER MAINTENANCE 2000 0 2000 OUTSTANDING CHECKS 100000 INVESTMENT MANAGEMENT FEES - ROPES AND GRAY 244064 244064 0 INVESTMENT MANAGEMENT FEES - DOLAN 12941 12941 0 INVESTMENT MANAGEMENT FEES - NEUBERGER 28300 28300 0 2022 ESTIMATED TAXES PAID 50000 0 0 2021 EXCISE TAXES PAID CURRENT YEAR 98432 0 0