2006 Carl & Ruth Shapiro Family Foundation 990 (includes Madoff investments)

8/14/2019 2006 Carl & Ruth Shapiro Family Foundation 990 (includes Madoff investments)

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Return o f P r i v a t e Founda t ion OMB No 1545-0052

Form 990-PFor Sect ion 4947 ( a ) ( 1 )Nonexempt Char i table Trust

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LHA For Privacy Ac t an d P a p e r w o r k Reduction Ac t N o t i c e , se e th e i n s t r u c t i o n s .

6 2 3 5 0 101-29-07

Form 990-PF ( 2 0

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12300507 788779 fnd 2006.05000 CARL & RUTH SHAPIRO FAMILY FND



F o r m9 9 0 - P F (2 0 0 6) CARL & RUTH SHAPIRO FAM ILY FOUNDATIO N 04-6135027 P a

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1 C a s h- n o n -I n t e r e s t - b e a n n g 1130. 88046. 88046.

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5 G r a n t s r e c e i v a b l e

6 R e c eiv a b l e s d u e f r o m o f f i c e r s ,d i re c t or s, t r u st e e s , a n d o t h e r

d i s q u a l i f i e dp e r s o n s

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8 I n v e n t o r i e s f o r s a l eo r u s e

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b I n v e s t m e n t s- c o r p o r a t e s t o c k Stmt 9 15730680. 0 . 0

c I n v e s t m e n t s- c o r p o r a t e b o n d s

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23 T o t a l l i a b i l i t i e s(a d d l i n e s1 7 t h r o u g h 2 2 ) 978. 0.

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r ` a n d c o m p l e t el i n e s27 t h r o u g h 3 1 .

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Z 3 0 T o t a l n e ta s s e t so rf u n db a l a n c e s . . . 169196163. 2 5 2 9 7 4 0 3 7 .

3 1 T o t a ll i a b i l i t i e sa n d n e ta s s e t s a n d b a l a n c e s 1 6 919 7141. 2 5 2 9 7 4 0 3 7 .

p . A n a l y s i s o f Changes i n Net A s s e t s o r F u n d B a l a n c e s

1 T o t a l n e t a s s e t s o r f u nd b a la n ce sa t b e g i n n i n g o f y e a r - P a r t I I ,co lumn ( a ) ,l i n e3 0

( m u s t a g r e e w i t h e n d - o f - y e a rf i g u r e r e p o r t e d o n p n o r y ea r ' sr e t u r n )

2 E n t e r a m o u n t f r o m P a r t I , l i n e2 7 a -Ô t h e r i n c r e a s e s n o t i n c l u d e d i n l i n e2 ( i t e m i z e )

4 Ad d l i n e s1 , 2 , a n d 3

5 D e c r e a s e s n o t i n cl ud e d i n l i n e2 ( i t e m i z e )^

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252974037.

F o r m990-PF ( 262351101-29-07




F o r m9 9 0 - P F( 2 0 0 6 ) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 P aP t lV CaDi ta l Gains and Losses fo r Tax on Inves tment Income

( a ) L i s ta n d d e s c r i b e t h e k i n d ( s ) o f p r o p e r t y s o l d ( e g , r e a le s t a t e ,

2 - s t o r y b r i c kwarehouse ; o r common s t o c k , 2 00 s h s . ML CCo )

( b Ho w a c q u i r e d- P u r c h a s e

D - D o n a t i o n

( c D a t e a c q u i r e d( mo , d a y , y r )

(d ) D a te s o l d(m o , d a y , y r )

1 a

b See Attached Statements

c

d

e

( e )G r o s s s a l e s p r i c e ( t ) D e p r e c i a t i o na l l o w e d( o r a l l o w a b l e)

( g ) C o s t o r o th e r b a si sp l u s e x p e n s eo f s a l e

( h ) G a i n o r ( l o s s )( e )p l u s (f ) m i n u s ( g )

ab

c

de 284987192. 233390153. 51597039.

C o m p l e t eo n l y f or a s s e t s s h o w i n gg a i n i n column ( h )a n d owned b y t h e f o u n d a t i o no n 1 2 / 3 1 / 6 9 ( I ) G a i n s ( C o l ( h )g a i n minus

( I ) F M V a s o f 1 2/3 1 / 6 9( 1 )A d j u s t e d b a s i s

a s o f 1 2/ 3 1 / 6 9( k ) E x c e s s o fc ol ( i )

o v e r c o l. (1 ) ,i f a n y

c o l( k ) ,

b u t

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N e t s h o r t - t e r m c a p i t a lg a i n o r ( l o s s ) a s d e f i n e d i n s e c t i o n s 1 2 2 2 ( 5 ) a n d ( 6 )I f g a i n ,a l s o e n t e r i n P a r t I ,l i n e8 , column ( c )I f ( l o s s ) , e n t e r - 0 - i n P a r t I , l i n e8 3 N/A

I part v _ 1 ( uua l l t l c a t l o n Under section 494U(e ) To r Reduced I ax on Net Investment Income

( F o r o p t io na lu s e b y d o m e s t i cp r i v a t e f o u n d a t i o n s s u b j e c t t o t h e s e c t i o n 4 9 4 0 ( a )t a x o n n e t i n v e s t m e n tincome )

I f s e c t i o n 4 9 4 0 ( d ) ( 2 )a p pl i es , l e a vet h i sp a r t b l a n k .

Wa s t h e f o u n d a t i o nl i a b l ef o r t h e s e c t i o n 4942 t a x o n t h e d i s t r i b u t a b l e amount o f a n y y e a r i n t h e b a s e p e r i o d ? Y e s X

I t Ye s , " t h e f o u n d a t i o n d o e s n o t q u a l i f yu n d e r s e c t i o n 4940 (e ) Do n o t c o m p l e t et h i s p a r t1 E n t e r t h e a o o r o o n a t eamount i n e a c h column f or e a c h y e a r: s e e i n s t r u c t i o n s b e f o r e m a k i n aa n y e n t r i e s

B a s e pr iod y e a r sC a l e n d a ry e a r o r t a x ye a r b eg i n n i ng

( b )A d j u s t e dq u a l i f y i ng d i s t ri b u t i on s

( c )N e t v a l u e o f n o n c h a n t a b l e- u s e a s s e t s

o n r a t i oi s t r i b u t i o n( c o l ( b )d r v i d e d b y c o l ( c ) )

2 0 0 5 6706051. 170221426. .039396

2 0 0 4 3345224. 155208719. .021553

2 0 0 3 6809240. 148563393. .045834

2 0 0 2 7700592. 139233371. .055307

2 0 0 1 7929251. 133023383. .059608

2 T o t a l o f l i n e1 , column ( d ) 2 .221698

3 A v e r a g ed i s t r i b u t i o n r a t i of o r t h e 5 - y e a r b a s e p e r i o d - d i v i d e t h e t o t a lo n l i n e2 b y 5 ,

t h e f o u n d a t i o nh a s b e e n i n e x i s t e n c e i f l e s s t ha n 5 y e a r s

o r b y t h e number o f y e a r s

3 . 0 4 4 3

4 E nt e r t h e n e t v a l u e o f n o n c h a n t a b l e- u s e a s s e t s f o r 2 0 0 6 f r o m P a r t X , l i n e5 . . . . . 4 212735342.

5 M u l t i p l yl i n e4 b y l i n e3 . 5 9432685.

6 E n t e r 1 % o f n e t i n v e s t m e n tincome ( I% o f P a r t I , l i n e2 7 b ) 6 5 9 8 5 0

7 Addlines5and6 . . 7 10031192.

8 E n t e r q u a l i f y i ng d i s t ri b u t i on sf r o m P a r t X I I, l i n e4 8 10392765.

I f l i n e8 i s e q u a l t o o r g r ea t e r t h a n l i n e7 , c h e c k t h e bo x i n P a r t V I ,l i n e1 b , a n d c o m p l e t et h a t p a r t u s i n g a 1 % t a x r a t eS e e t h e P a r t V I i n s t r u c t i o n s

6 2 3 5 2 1 / 0 1 - 2 9 - 0 7 F o r m990-PF (




1 1F o r m9 9 0 - P F ( 2 0 0 6 ) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 P ag

a r t V t Exc i se Tax B a s e d on Inves tmen t I n c o m e (Section 4 9 4 0 ( a ) , 4 9 4 0 ( b ) , 4 9 4 0 ( e ) , or 4948 - s e e i n s t r uctions)

1 a Exempt o p e r a t i n g f o u n d at i o n s d e s cr i b e di n s e c t i o n 4 9 4 0 ( d ) ( 2 ) ,c h e c k h e r e ^ 0 n d e n t e r " N / A "o n l i n e1

D a t e o f r u l i n g l e t t e r ( a t t a c h c o p y o f r u l i n g l e t t e rI f n e c e s s a r y - s e e I n s t r u c t i o n s )

b D o m e s t i cf o u n d a t i o n st ha t meet th e s e c t i o n 4 9 4 0 ( e ) r e q u i r e m e n t si n P a r t V , c h e c k h e r e ^ [X a n d e n t e r 1 % 1 5 9 8 5 0 7

o f P a r t I , l i n e2 7b

c A l lo t h e r d o m e s t i cf o u n d a t i o n se n t e r 2% o f l i n e2 7b E xe mp t f o r ei g n o r g a n iz a ti o n se n t e r 4% o f P a r t I , l i n e1 2 , c o l ( b )

2 T a x u n d e r s e c t i o n 5 1 1 ( d o m e s t i cs e c t i o n 4 9 4 7 ( a ) ( 1 )t r u s t s a n d t a x a b l e f o u n d a t i o n so n l y .O t h e r s e n t e r - 0 - ) 2 0

3 Ad d l i n e s1 a n d 2 3 598507.

4 S u b t i t l eA ( i n c o m e )ta x ( d o m e s t i cs e c t i o n 4 9 4 7 ( a ) ( 1 )t r u s t s a n d t a x a b l e f o u n d a t i o n so n l y O t h e r s e n t e r - 0 - ) 4 0

5 Tax based o n I n v e s t m e n tIncome . S u b t r a c t l i n e4 f r o m l i n e3 I f z er o o r l e s s ,e n t e r - 0 - _ 5 5 9 85 0 76 C r e d i t s / P a y m e n t s .

a 2 0 0 6 e s t i m a t e d t a x payments a n d 2 0 0 5 o v e r p a y m e n tc r e d i t e d to 2 0 0 6 6 a 6 0 2 0 0 0 .

b Exempt f o r ei g n o r g a ni z a ti o n s- ta x w i t h h e l d a t s o u r c e 6 b

c T a x p a i d w i t h a p p l i c a t i o n f o re x t e n s i o n o f t i m e to f i l e(Form 8 8 6 8 ) 6 c

d Backup w i t hh o l di n g e r r o n eo u s l yw i t h h e l d 6 d

7 T o t al c r e di t s a n d p a ym e n ts .A dd l i n e s6 a t h r o u g h 6 d . 7 6 0 2 0 0 0

8 E n t e r a n y p e n a l t y f o r underpayment o f e s t i m a t e d t a x Check h e r e EX i f Form 2 2 2 0 i s a t t a c h e d 8 1275.

9 Tax du e . I f t h e t o t a lo f l i n e s5 a n d 8 i s more t h a n l i n e7 , e n t e r a m ou n t o w e d ^ 9

1 0 O ve rp ay ment . I f l i n e7 i s more t h a n t h e t o t a lo f l i n e s5 a n d 8 , e n te r t he amount o v e r p a i d ^ 1 0 2218

1 1 E n t e r t h e amount o f l i n e1 0 t o b e C r e d i t e d t o 2 0 0 7 e s t i m a t e d t a x ^ 2 2 18 . R e f u n d e d ^

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3 1 a v tV 1 1 -A S t a t e m e n t s Regard ing A c t i v i t i e s

1 a D u r i n gt h e ta x y e a r , d i d th e f o u n d a t i o na t t e m p t t o i n f l u e n c e a n y n a t i o n a l , s t a t e ,o r l o c a ll e g i s l a t i o no r d i d i t p a r t i c i p a t e o r i n t e r v e n e i n

a n y p o l i t i c a lcampaigns

b D i d i t s p e n d more t h a n $ 1 0 0 d u r i n g t h e y e a r ( e i t h e rd i r e c t l yo r i n d i r e c t l y )f o r p o l i t i c a lp u r p o s e s ( s e e i n s tr u c ti o n s f o r d e f i n i t i o n ) ?

I f t h e a n s w e r i s " Ye s " t o l a o r 1 b , a t t a c h a d e t ai l e d d e sc r i p t i o n o ft h e a c t i v i t i e s an d copies o f an y m a t e r i a l s p u b l i s h e d o r

d i s t r i b u t e d b y t h e foundation i n connection w i th t he a c t i v i t i e s .

c D id t he f o u n d a t i o n f i l eF or m 1 1 2 0 - P O L f o r t h i sy e a r ?

d E n te r t he amount ( i ta n y ) o f ta x o n p o l i t i c a le x p e n d i t u r e s( s e c t i o n 4 9 5 5 ) imposed d u r i n g t he y ea r.

( 1 ) On t h e f o u n d a t i o n ^ $ 0. ( 2 ) On f o u n d a t i o nm a n a g e r s .^ $ 0.

e E n t e r th e r e i m b u r s e m e n t( i fa n y ) p a i d b y t h e f o un d at i on d ur i n gt he y e a r f o r p o l i t i c a le x p e n d i t u r et ax imposed o n f o u n d a t i o n

managers ^ $ 0.

2 H as t h e f o u n d a t i o ne n g a g e d i n a n y a c t i v i t i e st ha t h a v e n o t p r e v i o u s l y b e e n r e p o r t e d t o t h e I R S ?

I f " Ye s , " a t t a c h a d e t ai l ed d e s c r ip t i o n o f t h ea c t i v i t i e s .

3 H as th e f o u n d a t i o nmade a n y c h an g es ,n o t p r e v i o u sl y r e p o r te dt o t he I RS , i n i t sg o v e r n i n gi n s t r u m e n t , a r t i c l e so f i n c o r p o ra t io n , o r

b y l a w s , o r o t he r s i m i l a r i n s t r u m e n t s ? I f " Ye s , " a t t a c h a c o n fo r m e d c o p y o f t h e changes

4 a D id t he f o u n d a t i o nh a v e u n r e l a t e d b u s i n e s s g r o s s income o f $ 1 , 0 0 0 o r more d u r i n g t he y e a r ?

b I f ' Ye s * h a s i t f i l e da t ax r e tu r n o n F o r m 990 - T f or t h i sy e a r ? . . N/A

5 Wa s t h e r e a l i q u i d a t i o n ,t e r m i n a t i o n , d i s s o l u t i o n , o r s u b s ta n t ia l c o n t r a c t i o n d u r i n g th e y e a r ?

I f " Ye s , " a t t a c h t h e statement r e q u i r e d b y Genera l I n s t r u c t i o n T .

6 A r e t h e r e q u i r e m e n t so f s e c t i o n 5 0 8 ( e ) ( r e l a t i n gto s e c t i o n s 4 9 4 1 t h r o u g h 4 9 4 5 ) s a t i s f i e de i t h e r

• B y l a n gu a gei n t h e g o v e r n i n gi n s t r u m e n t , o r

• B y s t a t el e g i s l a t i o nt ha t e f f e c t i v e l yamends t h e g o v e r n i n gi n s t r u m e n ts o t ha t n o m a n d a t o r yd i r e c t i o n s tha t c o n f l i c tw i t h t h e s t a t e l a w

r e m a i n i n t he g o v e r n i n gi n s t r u m e n t ?

7 D id t he f o u n d a t i o nh a v e a t l e a s t$ 5 , 0 0 0 i n a s s e t s a t a n y t im e d ur i ngt h e y e a r ?

I f " Ye s , " comple te P a r t l l , c o l . ( c ) , an d P a r t X V .

8 a E n t e rt h es t a t e st o w h i c ht h ef o u n d a t i o nr e p o r t s o r w i t hw h i c h i t i s r e g i s t e r e d( s e ei n s t r u c t i o n s )^

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b I f t h e a n s w e r i s ' Ye s ' t o l i n e7 , h a s t h e f o u n d a t i o nf u r n i s h e d a copy o f F o r m 990-PF t o t h e A t t o r n e yG e n e r a l ( o r d e s i g n a t e )

o f e a c h s t a t e a s r e q u i r e d b y Genera l I n s t r u c t i o n G? I f " N o , " a t t a c h e x p l a n a t i o n

9 I s t h e f o u n d a t i o nc l a i m i n g s t at u s a s a p r i v a t e o p e r a t i n g f o u n d a t i o nw i t h i n t h e meaning o f s e c t i o n 4 9 42 ( j )( 3 ) o r4 9 4 2 ( j ) ( 5 )f o r c a l e n d a r

y e a r 2 0 0 6 o r t he t ax ab l e y ea r b e g i n n i n gi n 2006 ( s e e i n s tr u c ti o n s f or P ar t X I V ) ?I f " Ye s , " c o m p l e t e P a r t X IV .

0 D i d a n y D e r s o n sb e c o m e s u b s t a n t i a l c o n t r i b u t o r s dunna t he ta x y e a r ? i t - v . . ' at tach a s c h e d u l e l i s t i n a their names and addresses

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# V I I-A 1 Sta t emen t s Rega rd ing A c t i v i t i e s C o n t i n u e d

1 1a A t a n y t i m e d u r i n g t h e y e a r , d i d t h e f o u n d a t i o n, d i r e c t l yo r i n d i r e c t l y, o wn a c o n t r o l l e d e n t i t yw i t h i n t h e meaning o f s e c t i o n 5 1 2 ( b ) ( 1 3 ) '

I f ' Ye s ' a t t a c h s c h e d u l e . ( s e e i n s t r u c t i o n s ) . . . 1 1a X

b I f ' Ye s , d i d t h e f o u n d a t i o n h a v e a b i n d i n g w r i t t e n c o n t r a c t i n e f f e c to n A u g u s t 1 7 , 2 0 0 6 , c o v e r i n g t h e i n t e r e s t ,r e n t s , r o y a l t i e s ,a n d

a n n u i t i e s d e s c r i b e d i n t h e a t t a c h m e n tf o r l i n e1 1 a ? . . . N/A 1 1 b

1 2 D i d t h e f o u n d a t i o n a c q u i r e a d i r e c to r i n d ir e c t i n te r e sti n a n y a p p l i c a b l e i n s ur a n c e c o n t r ac t s . . . 1 2 X

1 3 D i d t h e f o u n d a t i o n comply w it h t he p u b l i c i n s p e c t i o n r e q u i r e m e n t sf o r i t s a n n u a l r e t u r n s a n d e x em p t i o na p p l i c a t i o n ? 1 3 X

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1 5 S e c t i o n 4 9 4 7 (a ) ( 1 ) nonexempt c h a r i t a b l e t r u s t s f i l i n gForm 9 90 - P F i n l ie uo f Form 1 0 4 1 - Check h e r e ^ 0

a n d e n t e r t h e amount o f t a x -exem p t i n t e r e s tr e c e i v e d o r a c c r u e d d u r i ng t h e y e a r^ 1 5 N/A

p 2 V U - f l S t a te m e n ts R e ga r di n g A c t i v i t i e s f o r W h i c h F o r m 4 7 2 0 May Be Required

F i l e F o r m 4 7 2 0 i f a n y item i s c h e c k e d i n th e "Yes" c o l u m n , unless a n e x c ep t io n a p p l i e s . Y e s N

1 a D u r i n g t h e y e a r d i d t h e f o u n d a t i o n ( e i t h e r d i r e c t l yo r i n d i r e c t l y )

( 1 ) Engage i n t h e s a l e o r e x c h a n g e ,o r l e a s i n g o f p r o p e r t y w i t h a d i s q u a l i f i e dp e r s o n ? 0 es I1 N o

( 2 ) B o r r o wmoney f r o m , l e n d money t o , o r o t h e r w is e e x te n dc r e d i tt o ( o r a c c e p t i t f r o m )

a d i s q u a l i f i e d p e r s o n ? . . Ye s 0 o

( 3 ) F u r n i s h goods , s e r v i c e s , o r f a c i l i t i e st o ( o r a c c e p t them f r o m ) a d i s q u a l i f i e dp e r s o n ? Ye s 0 o

( 4 ) P a y c o m p e n s a t i o nt o , o r p a y o r r e i m b u r s et h e e x p e n s e s o f , a d i s q u a l i f i e dp e r s o n ? Ye s 0 o

( 5 ) T r a n s f e r a n y income o r a s s e t s t o a d i s q u a l i f i e d p e r s o n ( o r make a n y o f e i t h e ra v a i l a b l e

f o r t h e b e n e f i t o r u s e o f a d i s q u a l i f i e d p e r s o n) ? . . _Q es EXI N o

( 6 ) A g r e et o p a y money o r p r o p e r t y t o agovemment o f f i c i a l ?( E x c e p t i o n. C h e c k' N o '

i f t h e f o u n d a t i o n a g r e e d t o make a g r a n t t o o r t o employ t h e o f f i c i a lf o ra p e r i o d a f t e r

t e r m i n a t i o n o f government s e r v i c e , i f t e r m i n a t i n g w i t h i n 9 0 d a y s ) L1 Ye s 0 o

b I f a n y a n s w e ri s ' Ye s ' t o 1 a ( 1 ) - ( 6 ) ,d i d any o f t h e a ct s f a dt o q u a l i f yu n d e r t h e e x c e p t i o n s d e s c r i b e d i n R e g u l a t i o n s

s e c t i o n 5 3 4 9 4 1( d ) - 3 o r i n a c u r r en t n o ti ce r e g a r d i n g d i sa s te r a s s i s ta n c e ( s e e p a g e 2 2 o f t h e i n s t r u c t i o n s ) ? N/A l b

O r g a n i z a t i o n sr e l y i n go n a c u r r e n tn o t i c er e g a r d i n g d i s a s t e ra s s i s t a n c ec h e c k h e r e ^ 0

c D i d t h e f o u n d a t i o n engage i n a p r i o r y e a r i n a n y o f t h e a c t s d e s c r i b e d i n 1 a ,o t h e r t h a n e x c e p t e d a c t s , t h a t w e r e n o t c o r re c te d

b e fo r e t hef i r s td a y o f t he t ax y e a r b e g i n n i n g i n 2 0 0 6 ' 1 c

2 T a x es o nf a i l u r et o d i s t r i b u t eincome ( s e c t i o n 4942 ) (d o e s n o t a p p l yf o r y e a r s t h e f o u n d a t i o n w as a p r i v a t e o p e r a t i n g f o u n d a t i o n

d e f i n e d i n s e c t i o n 4 9 4 2 (1 ) ( 3 )o r 4942 (j ) ( 5 ) )

a A t t h e e n d o f t a x y e a r 2 0 0 6 , d i d t h e f o u n d a t i o n h a v e a n yu n d i s t r i b u t e d i n c o m e(l i n e s6 d a n d 6 e , P a r t X I I I )f o r t a x y e a r ( s ) b e g i n n i n g

b e f o r e 2 0 0 6 7 Ye s FX N o

I f ' Ye s , l i s tt h e y e a r s ^

b A r e t h e r e a n y y e a r s l i s t e di n 2 a f o r w h i c h t h e f o u n d a t i o n i s n o t a p p l yi ng t hep r o v i s i o n s o f s e c t i o n 4942 ( a ) ( 2 ) ( r e l a t i n gt o i n c o r r e c t

v a l u a t i o n o f a s s e t s ) t o t h e y e a r ' s u n d i s t r i b u t e d i n c o m e ' ) ( I f a p p l y in g s e ct io n4942 (a ) ( 2 ) t o a l l y e a r s l i s t e d, answer " N o *a n d a t t a c h

N/As t a t e m e n t - s e e i n s t r u c t i o n s. ) 2 b.

c I f t h e p r o v is io n so f s e c t i o n 4942 ( a ) ( 2 ) a r e b e i n g a p p l i e d t o a n y o f t h e y e a r s l i s t e di n 2 a , l i s tt h e y e a r s h e r e .

3 a D i d t h e f o u n d a t i o n h o l d more t h a n a 2% d i r e c to r i n d i r e c ti n t e r e s ti n a n y b u s i n e s s e n t e r p r i s e a t a n y t i m e

d u r i n g t h e y e a r s . 0 es 0 o

b I f ' Ye s ; d id i t h a v e e x ce s s b u s i n es sh o l d i n g s i n 2 0 0 6 a s a r e s u l t o f( 1 ) a n y p u r c h a s eb y t h e f o u n d a t i o n o r d i s q u a l i f i e d p e r s o n s a f t e r

Ma y 2 6 , 1 9 6 9 , ( 2 )t h e l a p s e o f t h e 5 - y e a r p e r i o d ( o r l o n g e r p e r i o d a p p r o v e db y t h e Commissioner u n d e r s e c t i o n 4943 ( c ) ( 7 ) ) t o d i s p o s e

o f h o l d i n g s a c q u i r e d b y g i f to r b e q u e s t, o r ( 3 ) t he l a ps e o f t h e 1 0 - , 1 5 - ,o r 2 0 - y e a r f i r s tp h a s e h o l d i n g p e r i o d? (Use S c h e d u l e C ,

t o determine i f t h e foundation h a d e x c e s s b u s in es s h o l d i n g s in 2 0 0 6 . ) N/AF o r m 4 7 2 0 3 b,

4 a D id t he f o u n d a t i o n i n v e s t d u r i n g t h e y e a r a n y amount i n a mannert h a t

w o u l dj e o p a r d i z e i t s c h a n t a b l e purposes? 4 a

b D id t hef o u n d a t i o n make a n y i n v e s t m e n t i n a p r i o r y e a r ( b u t a f t e rDecember 3 1 , 1969 ) t h a t c o u l d j e o p a r d i z e i t s c h a r i t a b l e p u r p o s et h a t

h a d n o t b e e n removed f r o m i e o a a r d v b e f o r e t h e f i r s td a y o f t h e t a x y e ar b e g in n in gi n 2 0 0 6 ' 4 b

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( 1 ) C a r r y o n p r o p a g a n d a, o r o t h e r w is e a t t em p tt o i n f l u e n c e l e g i s l a t i o n( s e c t i o n 4945 ( e ) ) ? Ye s 0 o

( 2 ) I n f l ue n ce t h e outcome o f a n y spec i f i c p u b l i c e l e c t i o n ( s e e s e c t i o n 4 9 5 5 ) , o r t o c a r r y o n , d i r e c t l yo r i n d i r e c t l y ,

a n y v o t e r r e g i s t r a t i o nd r i v e ? LI Ye s 0 o

( 3 ) P r o v i d e a g r a n t t o a n i n d iv i du a l f o r t r a v e l ,s tu dy , o r o t h e r s i m i l a r p u r p o s e s? Ye s EKI N o

( 4 ) P r o v i d e a g r a n t t o a n o r g a n iz a t i on o t h e rt h a n a c h a r i t a b l e , e tc , o r g a n i z a t i o n d e s c r i b e d i n s e c t i o n

5 0 9 ( a) (1 ) , ( 2 ) ,o r ( 3 ) ,o r s e ct i on 4940 ( d ) ( 2 ) ? Y es EXI N o

( 5 ) P r o v i d e fo r a n y p u r p o s e o t he r t h an r e l i g i o u s , c h a r i t a b l e , s c i e n t i f i c ,l i t e r a r y, o r e d u c a t i o n a l p u r p o s e s , o r f or

t h e p r e v e n t i o n o f c r u e l t y t o c h il d re n o r a n i m a l s ? LI Y es [M N o

b I f a n y a n s w e r i s ' Ye s ' t o 5 a ( 1 ) - ( 5 ) , d i d a n y o f t h e t r a n s a c t i o n s f a i lt o q u a l i t yu n d e r t h e e x c e p t i o n s d e s c r i b e d i n R e g u l a t i o n s

s e c t i o n 5 3 4945 o r i n a c u r r e n t n o t i c e r e g a r d i n g d i s a s t e r a s s i s t a n c e ( s e e i n s t r u c t i o n s ) ? _N/A 5 b

O r g a n i z a t i o n sr e l y i n go n a c u r r e n t n o t i c e r e g a r d i n g d i s a s t e r a s s i s t a n c e c h e c k h e r e p o p .0

c I f t h e answer i s ' Yes ' t o q u e s ti o n 5 a ( 4 ) , d o e s t h e f o u n d a t i o n c l a i m e x e m p t i o nf r o m t h e t ax b e c a u s e i t m a i n t a i n e d

e x p e n d i t u r e r e s p o n s i b i l i t y f o rt h e g r a n t ? N/A 0 es 0 o

I f " Ye s , " a t t a c h t h e statement required by Regulations s e c t i o n 5 3 . 4 9 4 5 - 5 ( d ) .

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a p e r s o n a l b e n e f i t c o n t r a c t ? 0 es 0 o

d u r i n g t h e y e a r , p a y premiums , d i r e c t l yo r i n d i r e c t l y, o n a p e r s o n a l b e n e f i t c o n t r a c t ?b D i d t h e f o u n d a t i o n 6 b X,

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Tota l number o f o t h e r s r e c e i v i ng o v e r $ 5 0 , 0 0 0f o r p r o f e s si o n a ls e r v i c e s ^

# t I X - A I Summary o f D i r e c t Char i tab le A c t i v i t i e s

L i s tt h e f o u n d a t io n ' s f o u rl a r g e s t d i r e c t c h a r i t a b l e a c t i v i t i e sd u r i n g t h e t a x y e a r I n c l u d e r e l e v a n t s t a t i s t i c a li n f o r m a t i o ns u c h a s t h e I E x p e n s e snumber o f o r g a n i z a t i o n sa n d o t h e r b e n e f i c i a r i e ss e r v e d , c o n f e r e n c e sc o n v e n e d ,r e s e a r c h p a pe r s p r o du c e d ,e t c .

I N/A

P a r t J X -8 Summa r y o f P r o ram - R el at e d I n v e st m e n tsD e s c r i b et h e t w o l a r g e s t program - r e l a t e d i n v e s t m e n t sm a d e b y t h e f ou n d a ti o n d u r in gt he t ax y e a r o n l i n e s1 a n d 2 . Amount

1 N/A

2

A l lo t h e r p r o g r a m- r e l a t e di n v e s t m e n t s S e e i n s t r u c t i o n s .

3

Tota l . Add l i n e s 1 through 3

F o r m990 - P F ( 2

62356101-29-07




F o r m ? j 9 0 - P F(2 0 0 6) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 P a g

P a t + i f Minimum Inves tment Return ( A l ld o m e s t i c f o u n d a t i o n s must c o m p l e t e t h i s p a r t .F o r e i g n f o u n d a t i o n s , s e e i n s t r u c t i o n s . )

1 F a i rm a r k e tv a l u eo fa s s e t sn o tu s e d (o r h e l df o ru s e ) d i r e c t l yi n c a r r y i n go u tc h a r i t a b l e, e t c , p u r p o s e s *

a A v e r ag e m o n th l yf a i rm a r k e tv a l u eo f s e c u r i t i e s . . . l a 175682121.

b A v e r a g e o f m o n t h l y c a s h b a l a n c e s 1 b 40292846.

c F a i rm a r k e t v a l u e o f a l l o t h er a s s et s 1 C

d T o t a l (a d d l i n e s1 a , b , a n d c ) . . . . l d 215974967

e R e d u c t i on c l a im e df o r b l o c k a g e o r o t he r f a ct or s r e p o r t e d o n l i n e s1 a a n d

1 c ( a t t a c h d e t a i l e d e x p l a n a t i o n ) l e 0

2 A c q u i s i t i o n i n d e b t e d n e s s a p p l i c a b l e t o l i n e1 a s s e t s . . . . 2

3 S u b t r a c t l i n e2 f r o m l i n el d 3 21597 4 9 6

4 C a s h d e e m e d h e l d f o r c h a r i t a b l e a c t i v i t i e s. E n t e r 1 1/ 2% o f l i n e3 (f or g r e a t e r amount , s e e i n s t r u c t i o n s ) 4 3239625

5 N e t v a l u e o f n o n c h a r i t a b l e - u s e a s s e t s . S u b t r a c t l i n e4 f r o m l i n e3 E n te r h e re a n d o n P ar t V , l i n e4 . . 5 212735342

6 Minimum I n v e s t m e n t r e t u r n . E n t e r 5% o f l i n e5 6 10636767

P & Dist r ibutable Amount (se e i n s t r u c t i o n s ) (S e c t i o n 4 9 4 2 (i ) ( 3 )a n d ( I ) ( 5 )p r i v a t eo p e r a t i n g f o u n d a t i o n s a n d c e r t a i n

f o r e i g n o r g a n i z a t i o n s c h e c k h e r e ^ 0 n d d o n o t c o m p l e t e t h i sp a r t )

1 Minimum i n v e s t m e n t r e t u r n f r o m P a r t X , l i n e6 1 10636767

2 a T a x o n i n v e s t m e n t i n c o m e f or 2006 f r o m P a r t V I ,l i n e5 . . 2 a 5 9 8 50 7 .

b income t a x f o r 2006 (T h i s d o e s n o t i nc lu de t he t a x f r o m P a r t V I ) 2 b

c Ad d l i n e s2 a a n d 2 b 2 c 5 9 8 50

3 D i s t r i b u t a b l e amount b e f o r e a d j u s t m e n t s S u b t r a c t l i n e2 c f r o m l i n e1 3 10038260

4 R e c o v e r i e s o f amounts t r e a t e d a s q u a l if y i n g d i s tr i b u ti o n s . . 4

5 A d dl i n e s3 a n d4 5 10038260.

6 D e d u c t i o n f r o m d i s t r i b u t a b l e amount (s e e i n s t r u c t i o n s ) 6

7 D i s t r i b u t a b l e amount a s a d j u s t e d S u b t r a c t l i n e6 f r o m l i n e5 E n t e r h e r e a n d o n P a r t X I I I, l i n e1 7 10038260

Part Xl Qualifying Distributions (se e instructions)

1 Amounts p a i d ( i n c l u d i n g a d m i n i s t r a t i v e e x p e n s e s ) t o a c c o m p l i s h c h a r i t a b l e , e t c , p u r p o s e s '

a E x p e n s e s, c o n t r i b u t i o n s , g i f t s ,e t c - t o t a lf r o m P a r t I , column (d ) , l i n e2 6 1 a 10392765.

b P r o g r a m - r e l a t e d i n v e s t m e n t s - t o t a lf r o m P a r t I X - B 1 b

2 Amounts p a i d t o a c q u ir e a s se t s u s e d ( o r h e l d f o r u s e ) d i r e c t l yi n c a rr y i ng o u t c h a r i t a b l e ,e t c . ,p u r p o s e s 2

3 Amounts s e t a s i d e f o r s p e ci f icc h a r i t a b l e p r o j e c t s t h a t s a t i s f yt h e

a S u i t a b i l i t yt e s t(p r i o rI R S a p p r o v a l r e q u i r e d ) 3 a

b C a s h d i s t r i b u t i o nt e s t ( a t t a c h t h e r eq u i re d s c h e d u l e ) . . 3 b

4 Q u a l i f y i n g d i s t r i b u t i o n s . Ad d l i n e s1 a t h r o u g h 3 b E n t er h e re a n d o n P ar t V , l i n e8 , a n d P a r t X I I I ,l i n e4 . . 4 10392765.

5 F o u n d a t i o n s t h a tq u a l i t yu n d e r s e c t i o n 4 9 4 0 (e ) f o r t h e r e d u c e d r a t eo f t a x o n n e t i n v e s t m e n t

i n c o m e E n t e r 1% o f P a r t I , l i n e2 7 b 5 598507.

6 A d j u s t e d q u a l i f y i n g d i st r i b ut i o n s . S u b t r a c t l i n e5 f r o m l i n e4 6 9794258.

N o t e : Th e a m o u n t o n l i n e 6 w i l lbe u s e d i n P a r t V , column (b ) , i n subsequent years w h e n c a l c u l a t i n g w h e t h e r t h e

4 9 4 0 ( e ) r e du c t i on o f t a x i n those y e a r s .

foundation q u a li f i es f o r t h e s e c t

F o r m9 9 0 - P F ( 2

6 2 3 5 7 101-29-07




F o r m§ 9 0 - P F(2 0 0 6) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 P a g

# ^ a r t X 1 1 1 U n d i s t r i b u t e d Income ( s e ei n s t r u c t i o n s )

( a ) ( b ) ( c ) ( d )C o r p u s Ye a r sp r io r t o2 0 0 5 2 0 0 5 2 0 0 6

1 D i s t r i b u t a b l eamount f o r 2 0 0 6 f r o m P a r t X I ,

l i n e ? 10038260.

2 U n d i s t r i b u t e d Income , I f an y , as o f t h e en d o f 2 0 0 5

a E n t e r amount f o r 2005 o n l y 0.

b T o t a l f o r p r i o ry e a r s0 .

3 E x c e s s d i s t r i b u t i o n s c a r r y o v e r, d a n y, t o 2 0 0 6 :

a F r o m2 0 0 1 1514910.

b F r o m 2 0 0 2 1054439.

c F r o m 2 0 0 3

d From 2004

e From 2005

f T o t a l o f l i n e s3 a t h r o u g h 1 1 1 2569349.

4 Q u a l i f y i n gd i s t r i b u t i o n s f o r 2006 f r o m

P a r t X l l , l i n e 4 10392765.

a A p p l i e dt o 2005 , b u t n o t more t h a n l i n e2 a 0

b A p p l i e dt o u n d i s t r i b u t e d income o f p r i o r

y e a r s ( E l e c t i o n r e q u i r e d - s e e i n s t r u c t i o n s ) 0

c T r e a t e da s d i s t r i b u t i o n s o u t o f c o r p u s

( E l e c t i o n r e q u i r e d - s e e i n s t r u c t i o n s ) 0

d A p p l i e dt o 2006 d i s t r i b u t a b l e amount 10038260.

e R e m a i n i n gamount d i s t r i b u t e d o u t o f c o r p u s 3 5 4 5 0 5

5 Excess d i s t r i b u t i o n s c a r r y o ve r a p p l i e dt o 2 0 0 6 0.

O f an amount a p p e a r s I n column (d ) , t h e s a m e a m o u n tm u s t be s h o w n i n column ( a ))

6 E n te r t he n e t t o t a lo f e a c h column a sI n d i c a t e d b e l o w :

a corpus Ad d l i n e s 3 f , 4 c, an d 4e subtract l i n e 5 2923854.

h P r i o r y e a r s' u n d i s t r i b u t e d income S u b t r a c t

l i n e4 b f r o m l i n e2 b 0

c E n t e r t h e amount o f p ri o r y e a rs '

u n d i s t r i b u t e d i n c o m ef o r w h i c h a n o t i c e o fd e f i c i e n c y h a s b e e n i s s u e d , o r o n w hi c ht h e s e c t i o n4 9 4 2(a ) t a xh a s b e e n p r e v i o u s l ya s s e s s e d 0

d S u b t r a c t l i n e6 c f r o m l i n e6b . T a x a b l e

a m o u n t- s e ei n s t r u c t i o n s 0

e U n d i s t r i b u t e d i n c o m ef o r 2005 S u b t r a c t l i n e

4 a f r o m l i n e2 a . T a x a b l eamount - s e e i n s t r 0

f U n d i s t r i b u t e d i n c o m ef o r 2006 S u b t r a c t

l i n e s4 d a n d 5 f r o m l i n e1 T h i s amount must

b e d i s t r i b u t e d i n 2007

7 Amounts t r e a t e d a s d i s t r i b u t i o n s o u t o f

c o r p u s t o s a t i s f yr e q u i r e m e n t simposed b y

s e c t i o n 1 7 0( b ) ( 1 ) ( E ) or4942 ( g ) ( 3 ) .0 .

8 E x c e s s d i s t r i b u t i o n s c a r r y o v e rf r o m 2 0 0 1

n o ta p p l i e do nl i n e5 o r l i n e7 1514 910 .

9 E x c e s sd i s t r i b u t i o n sc a r r y o v e rt o 2 0 0 7 .

S u b t r a c t l i n e s7 a n d 8 f r o m l i n e6 a 1408944 .

1 0 A n a l y s i so f l i n e9 .

a E x c e s sf r o m2 0 0 2 1054439.

b E x c e s sf r o m 2003

c E x c e s s f r o m 2004

d E x c e s sf r o m 2005

e E x c e s sf r o m2 0 0 6 3 5 4 5 0 5

F o r m9 9 0 - P F ( 26 2 3 5 8 101-29-07




F o r mb 9 0 - P F(2 0 0 6) CARL & RUTH SHAP FOUNDATION

i n s t r u c t i o n s an d P a r t V I I - A ,q u e s t i o n 9 )

1 a I f t h e f o u n d a t i o n h a s r e c e i v e d a r u l i n go r d e t e r m i n a t i o nl e t t e rt h a t i t i s a p r i v a t e o p e r a t i n g

f o u n d a t i o n , a n d t h e r u l i n gi s e f f e c t i v ef o r 2 0 0 6 ,e n te r t he d a t e o f t h e r u l i n g

b C h e c k b o x t o i n d i c a t e w h e t h e rt h e f o u n d a t i o ni s a p r i v a t eo p e r a t i f o u n d a t i o nd e s c r i b e d

2 a E n t e r t he l e ss er o f t h e a d j us t ed n e t T a x y e a r

income f r o m P a r t I o r t h e m i n i m u m ( a ) 2006 ( b ) 2005

i n v e s t m e n tr e t u r n f r o m P a r t X f o r

e a c h y e a r l i s t e d

b 85 % o f l i n e2 ac Q u a l i f yi n g d i st r i b u ti o n sf r o m P a r t X I I ,

l i n e4 f o r e a c h y e a r l i s t e d

d A m o u n t s i n c l u d e d i n l i n e2 c n o t

u s e d d i r e c t l yf o ra c t i v e c o n d u c t o f

e x e m p t a c t i v i t i e s

e Q u a l i f y i n gd i s t r i b u t i o n s m a d e d i r e c t l y

f o r a c t i v ec o n d u c to fe x e m p t a c t i v i t i e s

S u b t r a c tl i n e2 d f r o m l i n e2 c3 C o m p l e t e3 a , b , o r c f o r t h e

a l t e r n a t i ve t e s tr e l i e du p o n .a ' A s s e t s ' a l t e r n a t i v et e s t- e n t e r

( 1 ) Va l u e o f a l la s s e t s . . . . . .

( 2 ) Va l u e o f a s s e t s q u a l i f y i n g

u n d e r s e c t i o n 4 9 4 2 ( I ) ( 3 ) ( B ) ( i )

b 'Endowment ' a l t e r n a t i v et e s t- e n t e r2 / 3 o f m i n i m u m i n v e s t m e n tr e t u r ns h o w n i n P a r t X , l i n e6 f o r e a c h y e a rl i s t e d

c ' S u p p o r t ' a l t e r n a t i v et e s t- e n t e r

( 1 ) To t a l s u p p o r t o t h e r t h a n g r o s si n v e s t m e n ti n c o m e( i n t e r e s t ,d i v i d e n d s , r e n t s ,payments o ns e c u r i t i e s l o a n s ( s e c t i o n

5 1 2 ( a ) ( 5 ) ) ,o r r o y a l t i e s )

( 2 ) S u p p o r tf r o mg e n e r a l p u b l i ca n d 5 o r m o r e e x e m p to r g a n i z a t i o n sa s p r o v i d e di ns e c t i o n 4 9 4 2 ( l ) ( 3 ) ( 8 ) ( u i )

( 3 ) L a r g e s t a m o u n t o f s u p p o r tf r o m

a n e x e m p t o r g a n i z a t i o n

Par t X 1 f S u p p l e m e n t a r y In fo rma t ion (C o m p l e t e t h i s p a r t only i f t h e founda t ion h a d $ 5 , 0 0 0 o r m o r e i n a s s e t s

a t any t i m e d ur i ng t h e y e a r - s e e p a g e 2 8 o f t h e i n s t r u c t i o n s . )

1 I n f o r m a t i o n R e g a rd i n g F o u nd at i o n M a n a g e r s :

a L i s ta n y managers o f t h e f o u n d a t i o nw h o h a v e c o n t r i b u t e d m o r e t h a n 2% o f t h e t o t a lc o n t r i b u t i o n s r e c e i v e d b y t h e f o u n d a t i o n b e fo r e t he c lo seo fa n y t a x

y e a r ( b u t o nl yi t t h e y h a v e c o n t r i b u t e d m o r e t h a n $5 ,0 0 0 ) ( S e e s e c t i o n 5 0 7 ( d ) ( 2 ))

See Statement 1 4b L i s ta n y managers o f t h e f o u n d a t i o nw ho o wn 1 0% o r m o r e o f t h e s t o c k o f a c o r p o r a t i o n ( o r a n e q u a l l y l a r g e p o r t i o n o f t h e o w n e r s h i po f ap a r t n e r s h i p o r

o t h e r e n t i t y) o f w h i c h t h e f o u n d a t i o nh a s a 1 0 % o r g r e a t e r i n t e r e s t

None

2 I n f o r m a t i o nRegarding C o n t r i b u t i o n ,Grant , G i f t ,L o a n , S c h o l a r s h i p ,e t c . ,Programs :

C h e c k h e r e 0 1 0 f t h e f o u n d a t i o no n l y m a k e s c o n t r i b u t i o n s t o p r e s e l e c t e dc h a r i t a b l e o r g a n i z a t i o n sa n d does n o t a c c e p t u n s o l i c i t e d r e q u e s t s f o rf u n d s I f

t h e f o u n d a t i o nm a k e s g i f t s, g r a n t s , e t c .( s e e i n s t r u c t i o n s ) t o i n d i v i d u a l s o r o r g a n iz a t io n su n d e r o t h e r c o n d i t i o n s, c o m p l e t ei t e m s 2 a , b , c , a n d d

a T h e n a m e , a d d r e s s, a n d t e l e p h o n en u m b e r o f t h e p e r s o n t o whom a p p l i c a t i o n ss h o u l d b ea d d r e s s e d .

b T h e f o r mi n w h i c h a p p l i c a t i o n ss ho ul d b es u b m i t t e d a n d i n f o r m a t i o n a n d m a t e r i a l s t h e y s h o u l d i n c l u d e :

c A ny s u b m i s s i o nd e a d l i n e s

d A ny r e s t r i c t i o n so r l i m i t a t i o n so n a w a r d s, s u c h a s b y g e o g r a p h i c a la r e a s , c h a r i t a b l e f i e l d s, k i n d s o f i n s ti t ut i o ns, o r o t h e r f a c t o r s

6 2 3 6 0 1 / 01-29 - 07 F o r m990-PF ( 2

1 1 1 0 .

04-6135027 P a gN/A

1 4 2 ( i 1 ( 3) o r 0 9 4 2 ( i ) ( 5 )

P r i o r3 y e a r s

( c )2 0 0 4 ( d )2 0 0 3 (e ) To t a l




F o r m9 9 0 - P F(2 0 0 6) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 P a g e

3 G r a n t s a n d C o n t ri b u t i o ns P a i d D u r i n g th e Ye a r or A D o r o v e d f o r Future P a y m e n t

R e c i p i e n t I f r e c i p i e n t i s a n i n d i v i d u a l ,s h o w a n y r e l a t i o n s h i p t o F o u n d a t i o n P u r p o s e o f g r a n t o r

Name a n d a d d r e s s (home o r b u s i n e s s) a n y f o u n d a t i o n managero r s u b st a n t i al c o n t r i b ut o r

s t a t u s o f

r e c i p i e n tc o n t r i b u t i o n Amount

a Paid d u r i n g t h e year

SEE ATTACHED STATEMENT 416 - 10159785.

T o t a l ^ 3 a 10159785.

b A p p r o v e d f o r f u t u r e payment

None

T o t a l ^

3 b I

6 2 3 6 1 1 m 1 - 2 9 - 0 7 Form 990-PF ( 2 0




FormW - P F ( 2 0 0 6) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 P a g

Pa r k X . f . A A n a l y s i s o f Income - P roduc ing A c t i v i t i e s

r o s s amounts u n l e s s o t h e r w i s e i n d ic a te dn t e r U111M U uusmess muu inv txcW aec o section D12 01J Or 014 (e)g

1 Program s e r v i c e r e v e n u e

( a )B u s i n e s s

c o d e

( b )Amount

J . c „ _see

( d )

Amount

R el at ed o rexemptf u n c t i o n income

ab

c

def

g F e e s a n d c o n t r a c t sf r o m g o v e r n m e n ta g e n c i e s

2 Membership d u e s a n d a s s e s s me n t s

3 I n t e r e s to n s a v i n g s a n d t em p or a r y c as h

i n v e s t m e n t s 14 2123089.

4 D i v i d e n d sa n d i n t e r e s tf r o m s e c u r i t i e s 14 6158625.

5 N e t r e n t a li n c o m e o r ( l o s s) f r o m r e a le s t a t e *

a D e b t - f i n a n c e d p r o p e r t y

b N o t d e b t -f i n an c e d p r o pe r ty

6 N e t r e n t a li n c o m e o r ( l o s s) f r o m p e r s o n a l

p r o p e r t y

7 O t h e r i n v e s t m e n t i n c o m e

8 G a i n o r (l o s s )f r o m s a l e so fa s s e t so t h e r

t h a n i n v e n t o r y 18 51597039.

9 N e t income o r ( l o s s ) f r o m s p e c i a l e v e n t s

1 0 G r o s s p r o f i to r ( l o s s) f r o m s a l e s o f i n v e n t o r y

1 1 O t h e r r e v e n u e .

a

b

c

d

e

1 2 S u b t o t a l A dd columns ( b ) , ( d) ,a n d ( e ) 0 . 59878753. i

1 3 T o t a l . A dd l i n e1 2 , columns ( b ) , ( d ) ,a n d ( e ) 13 5 9 8 7 8 7 5

( S e e w o r k s he e ti n l i n e1 3 i n s t r u c t i o n s t o v e r i f yc a l c u l a t i o n s

Pad X V I , - B Rela t ionsh ip o f A c t i v i t i e s t o t h e A c c o m p l i s h m e n t o f Exempt P u r p o s e s


62362101-29-07 Form 990-PF (20



F o r m 9 9 0 - P F(2 0 0 6) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 P age 1

# XNII In fo rma t ion R e g a r d i n g Trans fe r s To a n d Tr a n s a c t i o n s a n d Rela t ionsh ips Wi t h Nonchar i t ab l e

D i d t h e o r g a n i z a t i o nd i r e c t l yo r i n d i r e c t l yengage i n a n y o f t h e f o l l ow i ng w i tha n y o t h e r o r ga n i z at i o nd e s c r i b e d i n s e c t i o n 5 0 1 ( c ) o f Yes No

t h e Code ( o t h e r t h a n s e c t i o n 5 0 1 ( c ) ( 3 ) o r g a n i z a t i o n s )o r i n s e c t i o n 5 2 7 , r e l a t i n gt o p o l i t i c a lo r g a n i z a t i o n s ?

a T r a n s f e r s f r o m t h e r e p o r t i n g f o u n d a t i o n t o a n o n c h a n t a b l eexempt o r g a n i z a t i o no f .

( 1 ) C a s h 1 a ( l ) X

( 2 ) O t h e r a s s e t s . . 1 a 2 X

b O t h e r t r a n s a c t i o n s *

( 1 ) S a l e so f a s s e t s

t o an o n c h a r i t a b l eexempt o r g a n i z a t i o n . . . l b (l ) X

( 2 ) P u r c h a s e so f a s s e t s f r o m a n o n c h a n t a b l eexempt o r g a n i z a t i o n l b (2 ) X

( 3 ) R e n t a l o f f a c i l i t i e s ,e q u i p m e n t ,o r o t h e r a s s e t s l b (3 ) X

( 4 ) Reimbursement a r r a n g e m e n t s . . 1 b (4 ) X

( 5 ) L o a n s o r l o a n g u a r a n t e e s 1 b (5 ) X

( 6 ) P e r f o r m a n c eo f s e r v i c e s o r m e m b e r s h i p o r f u n d r a i si n gs o l i c i t a t i o n s . . 1 b (5 ) X

S h a r i n g o f f a c i l i t i e s ,e q u i p m e n t ,m a i l i n g l i s t s ,o t h e r a s s e t s , o r p a i d e m p l o y e e s 1 c X

I f t h e a n s w e rt o a n y o f t h e a b o v e i s ' Ye s , ' c o m p l e t et h e f o l l o w i n gs c h e d u l e C o l u m n ( b )s h o u l d a l w a y s s h o w t h e f a i r m a r k e t v a l u e o f t h e g o o d s , o t h e r a s s e t s ,

o r s e r v i c e s g i v e n b y t h e r e p o r t i n g f o u n d a t i o n I f t h e f o u n d a t i o n r e c e i v e d l e s st h a n f a i rm a r k e tv a l u e i n a n y t r a ns a ct i o n o rs h a r i n g a r r a n g e m e n t ,s h o w i n

( a ) N a m e o f o r g a n i z a t i o n ( b )T y p e o f o r g a n i z a t i o n ( c ) D e s c r i p t i o no f r e l a t i o n s h i p

N/A

Under p e n a l t i e s o fp r y ec re t h a t I e ex a i n e d t h i s r e t u ncluding m p a n y i n g s c h ed u l es a n d statements, a n d t o t h e best o f my knowledge an d b e l i e f ,i t i s t r u e , c o r r e c t ,

en d comple te D e r than p6yerpy f i d u ct o n f p a r e r ( o ) I s b a s e d on a l l i n f o r m a t i o no f w ) l l c h p f e p a r e r h as a ny knowle b e

' t ôr rus t

'r e p a r e r sC _ f ' L - s i g n a t u r eO E

f i r m

I l s e ! l o

addr= a n d

, ti 440 PARK AVENZ I Pc NEW YORK, N.Y

UE SOUTH. 10016

62362201-29-C

123005

2a I s t h e f o u n d a t i o nd i r e c t l yo r i n d i r e c t l ya f f i l i a t e dw i t h , o r r e l a t e dt o , o n e o r m o r e t a x - e x e m p to r g a n i z a t i o n sd e s c r i b e d

i n s e c t i o n 5 0 1 (c ) o f t h e Code (o t h e r t h a n s e c t i o n 5 0 1 ( c ) ( 3 ) )o r i n s e c t i o n 5 2 7 ' ) Y e s ®

b I f Y e s. t h e f o l l o w i ng s c h e d u l e



Schedule B(Form 990 , 990-EZ,or 990-PF)D e p a r t m e n to f t h eT r e a s u r yI n t e r n a lRevenue S e r v i c e

Schedule o f Contr ibutors

Supplementary Informat ion f o r

l i n e 1 o f Form 990, 990-EZ, a n d 9 90 -P F (see i n s t r u c t i o n s )

OMB No 1545-0047

2 0 0 6Name o f organization I Employer i d e n t i f i c a t i o n number

CARL & RUTH SHAPIRO FAMILY FOUNDATION 1 04-6135027Organiza t ion type (check o n e ) :

F i le r s o f : Section:

Form 990 o r 990-EZ = 01 (c ) ( ) ( e n t e r n u m b e r ) o r g a n i z a t i o n

4947( a ) ( 1 ) nonexempt c h a r i t a b l e t r u s t n ot t r e a t e d as a p r i v a t e foundation

527 p o l i t i c a l o r g a n i z a t i o n

Form 990 -PF M 01( c ) ( 3 ) exempt p r i v a t e foundation

0 947( a ) ( 1 )nonexempt c h a r i t a b l e t r u s t t r e a t e d as a p r i v a t e foundation

0 01 ( c ) ( 3 ) taxable p r i v a t e foundation

C h e c k i f your o r g a n i z a t i o n i s c ov e re d b y th e G en e ra l R u le o r a Special R u l e . (Note : Only a s e c t i o n 5 0 1 ( c ) ( 7 ) , ( 8 ) , or ( 1 0 ) o r g a n i z a t i o n ca n c he ck b o xe

f o r both t h e Genera l Rule an d a Special Rule-see i n s t r u c t i o n s . )

Genera l Rule-

O or o r g a n i z a t i o n s f i l i n gF or m 9 90 , 990•EZ , o r 99 0 •PF t h a t r e c e i v e d , d u r i n g th e year , $ 5,000 o r more ( i n money o r p r o p e r t y ) from an y on e

c o n t r i b u t o r. (Complete P a r t s I an d I I . )

S pe ci a l R u l es -

O o r a s e c t i o n 501 ( c) (3 ) o r g a n i z a t i o n f i l i n gF or m 9 90 , o r Form 990•EZ, t h a t me t th e 3 3 1 /3% support t e s t o f th e r e g u l a t i o n s under

s e c t i o n s 509 ( a ) ( 1 ) / 1 7 0 ( b ) ( 1 ) ( A ) ( v ) ,an d r e c e i v e d from an y on e c o n t r i b u t o r, d u r i n g th e y e a r , a c o n t r i b u t i o n o f th e g r e a t e r o f $5,000 o r 2%o f t h e amoun t on l i n e 1 o f these forms . (C omp le t e P a r t s I an d I I . )

F o r a s e c t i o n 501 ( c) (7 ) , ( 8 ) ,o r (1 0 ) o r g a n i z a t i o n f i l i n gF or m 9 90 , o r Form 990•EZ, t h a t received from an y on e c o n t r i b u t o r , d u r i n g th e y e a r ,

aggregate c o n t r i b u t i o n s o r beques ts o f more than $ 1,000 f o r us e e x c l u s i v e l y f o r r e l i g i o u s , c h a r i t a b l e , s c i e n t i f i c , l i t e r a r y, o r e d u c a t i o n a l

purposes , o r the prevent ion o f c r u el t y t o c h i l dr en o r a n i m a l s . (Comple te P a r t s I , I I , an d I I I . )

For a s e c t i o n 501 ( c) (7 ) , ( 8 ) ,o r ( 1 0 ) o r g a n i z a t i o n f i l i n gF or m 9 90 , o r F or m 9 90 •E Z , t h a t received from an y o ne c o n t r i b u t o r , d u r i n g th e y e a r ,

s o m e c o n t r i b u t i o n s f o r us e e x c l u s i v e l yf o r r e l i g i o u s , c h a r i t a b l e , e t c . , purposes , b u t these c o n t r i b u t i o n s d i d n o t aggregate t o more than

$1,000 . (I f t h i s b ox i s ch eck ed , e n t e r here th e t o t a l c o n t r i b u t i o n s t h a t were received d u r i n g th e year f o r an e x c l u s i v e l yr e l i g i o u s ,

c h a r i t a b l e , e t c . , purpose . Do n o t c om pl et e a n y o f th e P a r t s unless t h e G e n er al R u l e a p p l i e s t o t h i s o r g a n i z a t i o n because i t r e c e i v e d

n o n e x c l u s i v e l yr e l i g i o u s , c h a r i t a b l e , e t c . , c o n t r i b u t i o n s o f $5,000 o r more d u r i n g th e y e a r . ) ^ $

Caut ion : O r g a n i z a t i o n s t h a t a r e n ot covered b y t h e G e n er al R u l e a n d / or t h e S p e c i a l Rules do n ot f i l e Schedule B (Form 9 9 0 , 990-EZ, o r 9 9 0 - P F ) , b u

they m u s t check t h e b ox i n t h e heading o f t h e i r Form 990, Form 990-EZ, o r on l i n e 2 o f t h e i r Form 990-PF, t o c e rt i fy t h a t they do n ot meet t h e f i l i n

requirements o f Schedule B (Form 990, 990-EZ, o r 990-PF).

LHA For Paperwork R e d uc t i on A c t Notice , s ee t he Instructions Schedule 8 (Form 990 , 990-EZ , o r 9 9 0 - P F ) ( 2

f o r Form 990, Form 990-EZ , a n d F or m 990-PF.

623451 01-18-07




S c h e d u l e B ( F o r m9 9 0 , 9 9

Name o f o rg a n i z a t i o n

1 o f 2 of P a

E m p l o y e r i d e n t i f i c a t i o n n u m b e r

CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027

Pad I Contributors ( S e e S p e c i f i c I n s t r u c t i o n s . )

( a )

N o .

( b )

Name , a d d r e s s , a n d Z IP + 4( c )

A g g r e g a t e c o n t r i b u t i o n s

( d )

Ty p e o f c o n t r i b u t i o n

1

SHAPIRO FAMILY FIFTEEN YEAR CHARITABLE

LEAD TRUST P e r s o n OX

C/O ONE WASHINGTON STREET, STE. 202 $ 3104073.P a y r o l l

N o n c a s h

WELLESLEY, MA 02481( C o m p l e t e P a r t I I i f t h e

I s a n o n c a s h c o n t r i b u t i

( a )

N o .

( b )

Name , a d d r e s s , a n d Z I P + 4

( c )


( d )


2

SHAPIRO FAMILY FIVE YEAR CHARITABLELEAD TRUST P e r s o n FT

C/O ONE WASHINGTON STREET, STE. 202 $ 6700998.P a y r o l l

N o n c a s h

WELLESLEY, MA 02481

( C o m p l e t e P a r t I I i f t h e

i s a n o n c a s h c o n t r i b u t

( a )

No .

( b )

Name , address , a n d Z IP + 4

( c )


( d )


3

SHAPIRO FAMILY TEN YEAR CHARITABLELEAD STRUST P e r s o n OX

C/O ONE WASHINGTON STREET, STE. 202 $ 4272328.

P a y r o l l

N o n c a s h fl

WELLESLEY, MA 02481( C o m p l e t e P a r t I I i f t h e


( a )

N o .

( b )

Name , a d d r e s s , a n d ZI P + 4

( c )


( d )


4 CARL SHAPIRO P e r s o n

2 NORTH BREAKERS ROW #45 $ 1950000.

P a y r o l l

N o n c a s h 0

PALM BEACH, FL 3 3 4 8 0

( C o m p l e t e P a r t I I i f t h e


( a )

N o .

( b )


( c )


( d )


5 RUTH SHAPIRO P e r s o n

2 NORTH BREAKERS ROW #45 $ 2596000.P a y r o l l Q

N o n c a s h X

PALM BEACH, FL 33480( C o m p l e t e P a r t I I i f t h e


( a )

N o .

( b )

Name , address , a n d ZI P + 4

( c )


( d )


6 CARL SHAPIRO P e r s o n 0

2 NORTH BREAKERS ROW #45 $ 10000000.P a y r o l l

N o n c a s h

PALM BEACH, FL 3 3 4 8 0( C o m p l e t e P a r t I I i f t h e

i s a n o n c a s h c o n t r i b u

; 7 g 4 - ; n i _ I R_m S c h e d u l e B ( F o r m 9 9 0 . 9 9 0 - E Z. o r 9 9 0 - P F) ( 2




S c h e d i l e B ( F o r m9 9 0 , 9 9 0 - E Z .o r 9 9 0 - P F )( 2 0 0 6 ) P a p e 2 o f 2 o f P a

Name o f o rg a n i z a t i o n Employer I d e n t i f i c a t i o n n u m b e r

CARL & RUTH SHAPIRO FAMILY FOUNDATION

Part t Contributors (See S p e c i f i c I n s t r u c t i o n s . )

04-6135027

( a )

N o .

( b )

Name , add re s s , a n d Z IP + 4

( c )


( d )

Type o f cont r ibu t ion

7 RUTH SHAPIRO P e r s o n OX

2 NORTH BREAKERS ROW #45 $ 10000000.P a y r o l l Q

N o n c a s h 0

PALM BEACH, FL 3 3 4 8 0(Comple te P a r t I I i f t h e

i s a n o n c a s h c o n t r i b u t i

( a)

No .

( b )


( c )


( d )


P e r s o n El

$

P a y r o l l Q

N o n c a s h 0

(Comple te P a r t I I i f t h e

i s a n o n c a s h c o n t r i b u t i

( a )

N o .

( b )


( c )

A g g r e g a t e c o n t r i b u t i o n s( C O


P e r s o n El

$

P a y r o l l 0

N o n c a s h Q

(Comple te P a r t l i i f t h e


( a )

No .

( b )

N a m e , a d d r e s s , a n d Z I P + 4

( c )


( d )


P e r s o n 0

$

P a y r o l l 0

N o n c a s h Q



( a )

No .

( b )


( c )

A g g r e g a t e c o n t r i b u t i o n s( C O


P e r s o n El

$

P a y r o l l El

N o n c a s h Q



( a )

No .

( b )

Name , a dd r e s s , a n d ZI P + 4

( c )


( d )


P e r s o n El

$

P a y r o l l Q

N o n c a s h El



6 2 3 4 5 2WAR-07 Schedule B ( F o r m9 9 0 . 9 9 0 - E Z. o r 9 9 0 - P F ) ( 2




S c he d ul e B( F o r m 9 9 0 , 9 9 0 - E Z o r

Name o f o rg a n i z a t i o n

1 o f 1 of P a

E m p l o y e r i d e n t i f i c a t i o n n u m b e r


Pad I t N o n c a s h P r o p e r t y ( S e e S p e c i f i cI n s t r u c t i o n s . )

(a )

No .

f r o m

P a r t I

( b )

D e s c r i p t i o n o f n o n c a s h p r op e r ty g i ve n

( c )

FMV (o r e st i m a te )

(see i n s t r u c t i o n s )

( C QD a t e r e c e i v e d

60,000 SHS COACH, INC.

4

$ 1950000. 09/12/06

( a )

No .

f r o m

P a r t I

D e s c r i p t i o n o f n o n c a s h p r o p e r t y g i v en

( c )FMV ( o r e s t i m a t e )

( see i n s t r u c t i o n s )D a t e r e c e i v e d

40,000 SHS REYNOLDS AMERICA

5

$ 2596000. 09/12/06

( a )No .

f r o m

P a r t I

D e s c r i p t i o n o f n o n c a s h p r o p e r t y g i v e n

( c )FMV (or e s t i m a t e )

(see i n s t r u c t i o n s )D a t e r e c e i v e d

(a )

No .

f r o mP a r t I

( b )


( c )

FMV (o r e s t i m a t e )

(se e i n s t r u c t i o n s )

( d )

D a t e r e c e i v e d

( a )No .

f r o m

P a r t I

( b )


( c )

FMV ( o r e s t i m a t e )

(se e i n s t r u c t i o n s )

( d)

D a t e r e c e i v e d

( a )No .

f r o m

Par t I


( c )

FMV ( o r e s t i m a t e )

(se e i n s t r u c t i o n s )D a t e r e c e i v e d

6 2 3 4 5 3 0 1 _ 1- o 7 Schedule B ( F o r m 9 90 .990-EZ . o r 9 9 0 - P F I ( 2




Continuation for 990-PF, PartCARL &.RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Pa ge 1 ofIPa t t IV I C a p i t a lG a i n sa n d L o s s e sf o rT a x o n I n v e s t m e n tI n c o m e

( a ) L i s ta n d d e s c r i b e t h e k i n d ( s ) o f p r o p e r t y s o l d , e g , r e a le s t a t e ,

2 - s t o r y b r i c k warehouse , o r c o m m o n s t o c k , 20 0 s h s ML C C o .

( b Ho w a c q u i r e dr c h a s e

D - DP u n a t i o n

o n a t i o n

( c) D a t e a c q u i r e d(m o , d a y, y r )

( d ) D a t e s o(m o , d a y , y

l a 2 0 325,000 US TSY BILL DUE 8/2406 P 04/28/06 08/24/06b US T-BILL INTEREST INCL. IN BROKER'S GROSS PROCEE P 04/28/06 08/24/06c 60,000 SHS COACH , INC D 09/12/06 09/12/06d 40,000 SHS REYNOLDS AMERICAN , INC D 09/12/06 09/12/06e 56,000 SHS LIZ CLAIBORNE , INC. P 06/05/95 01/09/06f 50 000 SHS LIZ CLAIBORNE, INC. P 06/05/95 01/10/06

g 6,000SHS

EMULUX CORP.P

11/29/04 01/12/06h 59,200 SHS PROCTOR & GAMBLE P 05/19/88 01/19/06i35,000 SHS GOOGLE P 03/30/05 01/23/06

40,000 SHS GOOGLE P 03/30/05 01/23/06k44 , 0 0 0 SHS PEPSICO P 08/29/95 01/24/061167,000 SHS TRANSOCEAN SEDCO P 01/23/06 02/03/06

m92 , 000 SHS ANALOG DEVICES P 01/23/06 02/06/06n 95,000 SHS DIAMOND OFFSHORE DRILLING P 01/23/06 02/07/06

o 157 , 000 SHS BU RLINGTON NORTHER N P 01/23/06 02/14/06

( e ) G r o s s s a l e s p r i c e ( Q D e p r e c i a t i o na l l o w e d( o r a l l o w a b l e)

(g ) C o s t o r o th e r b as i sp l u s e x p e n s eo f s a l e

( h ) G a i n o r ( l o s s )( e ) p l u s ( f ) minus ( g )

a 19984150. 19984150.b 340850. 340850.

c 1984200. 332850. 1651350.d 2600000. 558000. 2042000.

e 2003120. 504000. 1499120.f 1799000. 450000. 1349000.

130140. 83460. 46680.

h 3473856. 260643. 3213213.14808850. 6312950. 8495900.16924400. 7204800. 9719600.

k 2560800. 914827. 1645973.1 13711240. 13004410. 706830.

m 3717000. 3470980. 246020.n 7835700. 7571500. 264200.

o 12664090. 11152840. 1511250.

C o m p l e t eo n l y f o r a s s e t s s h o w i n gg a i n i n column ( h ) a n d o w n e d b y t h e f o u n d a t i o no n 1 2 / 3 1/6 9 ( I ) L o s s e s (f r o m c o l ( h ) )

( I ) F M V a s o f 1 2/3 1 / 6 9( j ) A d j u s t e db a s i s

a s o f 1 2/ 3 1 / 6 9(k ) E x c e s so fc o l ( i )

o v e r c o l .( 1 ) ,r f a n y

G a i n s (e x c e s s o fc o l ( h )g a i n o v e r c o l .( k ) ,b u t n o t l e s s t h a n ' - 0 - )

a

bc 1651350.d 2042000.e 1499120.f 1349000.

46680.

h 3213213.8495900.9719600.

k 1645973.1 706830.

m 246020.

n 264200.0 1511250.

! 12 C a p i t a l g a i n n e t income o r ( n e t c a p i t a ll o s s )

I f a m , a l s o e n t e r i n P a r t I , l i n e7i I f ? l o s s ) l i n e7 1n t e r ' - 0 - i n P a r t I 2,

3 N e t s h o r t - t e r mc a p i t a lg a i n o r ( l o s s ) a s d e f i n e d i n s e c t i o n s 1 2 2 2 ( 5 ) a n d( 6 ) •I f g a i n , a l s o e n t e r i n P a r t I , l i n e8 , column ( c )I f ( l o s s) , e n t e r ' - 0 - i n P a r t I , l i n e8 3

6235910 5 - 01 -06




Continuation for 990-PF, Part ICARL &.RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Pa g e 2 of

P I t I C a p i t a lG a i n sa n d L o s s esf o rT a xo n I n v e s t m e n tI n c o m e

( a ) L i s ta n d d e s c r i b e t h e k i n d(s ) o f p r o p e r t ys o l d , e g , r e a le s t a t e ,2 - s t o r y b u c k w a r e h o u s e ; o r c o m m o n s t o c k, 20 0 s h s ML C Co

( b Ho w a c q u i r e d

D - D o n t i o n

( c) D a t e a c q u i r e d( mo , d a y , y r )

( d ) D a t e s o l d(mo, d ay , y r

1 a 63,000 SHS CATERPILLAR TRACTOR P 01/13/06 02/17/06

b 2 1 275,000 US T-BILL DUE 4/27/06 P 12/08/05 03/02/06c 775,000 US T-BILL DUE 7/13/06 P 01/26/06 05/10/06d 150,000 US T-BILL DUE 7/13/06 P 01/26/06 06/07/06e 625,000 US T-BILL DUE 7/13/06 P 01/26/06 06/07/06f 750,000 US T-BILL DUE 9/1406 P 04/27/06 08/16/06

1 ,52 5

,0 0 0

US B-BILL DUE 12/21/06 P 07/27/06 09/07/06h 39,225 0 0 0 US T-BILL DUE 1/4/07 P 08/03/06 10/02/06

1,400,000 US T-BILL DUE 2/8/07 P 09/14/06 10/02/0626,500,000 US T-BILL DUE 2/8/07 P 09/14/06 10/02/06

k 80 0 0 0 SHS NORFOLD SO . CORP. P 09/29/06 11/09/061 50,000 SHS NV IDIA CO RP . P 09/28/06 11/09/06

m 8 5 , 0 0 0 SHS NVID IA CORP. P 09/28/06 11/09/06n 90 , 0 0 0 SHS OFFICE MAX P 09/27/06 11/09/06

o 750 , 0 0 0 US T-BILL DUE 12/14/06 P 07/13/06 11/10/06

( e ) G r o s ss a l e s p u c e( f )D e p r e c i a t i o na l l o w e d

( o r a l l o w a b l e)( g ) C o s t o r o t h e r b a s i s

p l u s e x p e n s eo f s a l e( h ) G ai n o r( l o s s )

(e ) p l u s (f ) minus ( g )

a 4540410. 3919860. 620550.b 20929537. 20942472. -12935.

c 758797.759267. -470.

d 146908. 146955. -47 .e 612119. 612312. -193.

f 735502. 736208. - 7 0 6 .1494672. 1494058. 614

h 38413705. 38391077. 22628.1372463. 1372224. 2 3 9

25978761. 25974240. 4521 .k 4216000. 3444000. 772000.1 1800500. 1449000. 351500.

m 3056650. 2464650. 592000.

n 4472100. 3585900. 886200.

o 733822. 733830. -8

C o m p l e t eo n l y f o r a s s e t s s h o w i n gg a i n i n column (h ) a n d o w n e d b y t h e f o u n d a t i o n o n 1 2 / 3 1 /6 9 ( I ) L o s s e s ( f r o mc o l ( h ) )

( I ) F M V a s o f 1 2/ 3 1 / 6 9( 1 )A d j u s t e d b a s i s

a s o f 1 2/ 3 1 / 6 9( k )E x c e s s o f c ol ( i )

o v e r c o l (j ) , i fa n y

G a i ns ( e xc e sso fc o l ( h )g a i n o v e r c o l ( k ) ,b ut n o t l e s s than'-0 ' )

a 620550.b -12935.C -470.

d -47.e -193.

f -706.

614h 22628.

2 3 94521

k 772000.1 351500.

m 592000.n 886200.o -8-

) I f (I f g o e s ) l s o

e n t e r ' - 0 =e n t e r '

i nP a P a r tI r t ,

IC a p i t a l g a i n n e t i n c o m eo r ( n e t c a p i t a ll o s si n l in e

l i n e7

7l o s s2

,

3 N e t s h o r t - t e r mc a p i t a lg a i n o r( l o s s ) a s d e f i n e d i n s e c t i o n s 1 2 2 2 ( 5) a n d( 6 )I f g a i n , a l s o e n t e r i n P a r t I , l i n e8 , column ( c )I f ( l o s s ) ,e n te r ' - 0= i n P a r t I , l i n e8 3

62359105-01-06

19




Continuation for 990-PF, PartCARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Pa ge 3 of# I V C a p i t a lG a i n sa n d L os s esf o rT a x o n I n v e s t m e n tI n c o m e

( a ) L i s ta n d d e s c r i b e t h e k i n d( s ) o fp r o p e r t ys o l d , e g , r e a le s t a t e ,

2 - s t o r y b u c k w a r e h o u s e ; o r c o m m o n s t o c k , 2 0 0 s h s ML C C o .

( b Ho w a c q u i r e dP u r c h a s e

D - D o n a t i o n

( c ) D a t e a c q ui r e d( mo

, d a y, y r )( d ) D a t e s o l

( mo , d a y , y

1 a 85 000 SHS NUCOR CORP._

P 09/28/06 11/10/06155,000 SHS AMR CORP. P 09/28/06 11/ 21/06

c 80,000 SHS ALLEGHENY TECH. P 09/28/06 11 / 2 2 / 0d 170 , 000 SHS AMAZON.COM, INC. P 09/28/06 11/2 7/06e 135,000 SHS COACH, INC. P 09/28/06 11/27/06f160 , 000 SHS EBAY , INC. P 09/27/06 11/27/06

40,000SHS

GOLDMAN SACHS P 09/28/06 11/27/06h12 , 0 0 0 SHS GOOGLE P 09/28/06 11/27/061 13 0 , 0 0 0 SHS MASSEY ENERGY P 10/04/06 11/27/06

92,000 SHS PEABODY ENERGY P 09/28/06 11/27/06k 3 0 0 0 0 SHS RESEARCH I N MOTION P 09/28/06 11/27/06175 , 0 0 0 SHS US STEEL CORP. P 10/03/06 11/27/06

m50,000 SHS YUM BRANDS P 09/28/06 11/27/06n41 , 000 SHS PEABODY ENERGY P 09/28/06 11/27/060

( e ) G r o s s s a l e s p u c e (f ) D e p r e c i a t i o na l l o w e d( o r a l l o w a b l e)

( g ) C o s t o r o t h e r b a s i sp l u s e x p e n s eo f s a l e

(h ) G a i n o r ( l o s s )( e ) p l u s ( f ) m i n u s( g )

a 5146750. 4109550. 1037200.b 5165650. 3617550. 1548100.

c 6656800. 4908800. 1748000.d 7220280. 5373900. 1846380.e 5690360. 4618200. 1072160.f 5317460. 4287800. 1029660.

8076000. 6760400. 1315600.h 5994480. 4825440. 1169040.

3328200. 2540700. 787500.3912960. 3327360. 585600.

k 4224000. 2557500. 1666500.5568000. 4181250. 1386750.

m 3144000. 2626000. 518000.n 1742910. 1483390. 259520.0

C o m p l e t eo n l y f o r a s s e t s s h o w i n gg a i n i n column ( h ) a n d owned b y t h e f o u n d a t i o no n 1 2 / 3 1 / 6 9 ( I ) L o s s e s (f r o m c o l ( h ) )

( I ) F M V a s o f 1 2/ 3 1 / 6 9( 1 )A d j u s t e db a s i s

a s o f 1 2/3 1 / 6 9( k ) E x c e s so f c o l ( i )

o v e r c o l ( I ) ,i fa n y

G a i n s( e xc e s sb u t n o t l e s s

(

t h a nh ) g a i n0 o v e rc o l ( k ) ,

a 1037200.b 1548100.C 1748000.d 1846380.e 1072160.f 1029660.

1315600.h 1169040.

787500.585600.

k 1666500.1386750.

m 518000.n 259520.0

2 C a p i t a l g a i n n e t income o r n e t c a p i t a ll o s s )a i n ,a l s o e n t e r i n P a r t I , l i n e7

e n t e r ' - 0 - i n P a r t I l i n e7) I f ? l o s s)2 51597039.

,

3 N e t s h o r t - t e r mc a p i t a lg ai n o r ( l o s s ) a s d e f i n e di n s e c t i o n s 1222 ( 5 ) a n d ( 6 ) :I f g a i n , a l s o e n t e r i n P a r t I , l i n e8 , column ( c ) .I f ( l o s s ) ,e n t e r ' - 0 - i n P a r t I , l i n e8 3 N/A

62359105-01-06




2006 DEPRECIATION AND AMORTIZATION REPORT

Form 990-PF Page 1 990-PF

A s e tN o D e s c r i p t i o n

D a t eA c q u i r e d Method L i f e

U n eN

. U n a d j u s t e dC os t O rB a s i s

B u s %E x c l

R e d u c t i o n I n

B a s i sB a s i s F o r

D e p r e c i a t i o nA c c u m u l a t e dD e p r e c i a t i o n

C u r r e n tS e c 1 7 9

C u r r e n t YD e d u c t i

I FURNITURE AND FIXTURES 1 2 1 5 02 0 0 D .0 0 1 7 8228 . 8228 .

FF IC E EQ UI P E NT 1118 2 00t 5 00 17 12 90 . 12 90 .

3 FURNITURE AND FIXTURES 1 2 1 5 0 2 00D .00 1 7 13944. 13944.

4 FURNITURE AND FIXTURES 1 - 21 5 2 00f . . 0 0 1 7 4882 . 1 8 4 1 . 3041. 2417. 3

5 FFICE RENOVATION 01 1 2 03 0 0 D .0 0 1 7 3 1 6 3 7 . 3 1 6 3 7 .

6 OFFICE EQUIPMENT 1 1 4 3 OG . . 0 0 1 7 6 0 3 6 . 6 0 3 6 .

7 FURNITURE AND FIXTURES 04 1 7 03 00D .0 0 1 7 9 0 0 0 . 9 0 0 0 .

8 SI RE AND FIXTURE 2 4 00 .00 1 7 7 4 4 5 4 7 4 4 5 .

9 FURNITURE AND FIXTURES 08 0403 00D . 0 0 1 7 7464. 7464.

1 0 FURNITURE AND FIXTURES 6 1 8 4 00 1 . 0 0 1 7 5680. 5 6 8 0 .

11 EQUIPMENT 1 2 1 1 06 00D .0 0 1 9 430. 430.To t a l 930-Pt ' P g I

e i p r 96036. 92565. 34 7 1. 2 4 1 7 . 04 3

6281020 7 - 2 8- 0 6 ( D ) - As se t d i s p o s e d • ITC, S e c t i o n 179, Sa lvage , Bonus , C o m m e r c i a l R e v i t a l i z a t i o n Deduc t i on , GO

21



CARS , & RUTH SHAPIRO FAMILY FOUNDATION

orm 990-PF Interest on Savings and Temporary Cash Investments Statement

ource

ANK - INTEREST ON SAVINGSANK - TEMPORARY CASH INVESTMENT

ROKER - TEMPORARY CASH INVESTMENT

otal to Form 990-PF, Part I , line 3 , Column A

25506.2096473.

1110.

2123089.

Amount

orm 990-PF Dividends and Interest from Securities Statement

Capital Gains Column ( A)

ource Gross Amount Dividends Amount

ANK - GOVT BONDS & T-BILLS 681500. 0. 681500.

ROKER - CORP DIVIDENDS 264521. 0. 264521.ROKER - GOVT BONDS & T-BILLS 340850. 0 . 340850.

ROKER - GOVT BONDS & T-BILLS 256500. 0. 256500.

ROKER - GOVT BONDS & T-BILLS 4615254. 0. 4615254.

otal to Fm 990-PF, Part I , I n 4 6158625. 0. 6158625.

orm 990-PF Legal Fees Statement

(a ) (b ) (c ) (d )

Expenses Net Invest- Adjusted CharitableDescription Per Books ment Income Net Income Purposes

EGAL FEES

To Fm 990-PF, Pg 1 , I n 16a

3 4 0 8 9 .

3 4 0 8 9 .

17044.

17044.

04-6135027

17045.

17045.

22 Statement(s) 1 , 2 ,




CAIL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027

orm 990-PF Accounting Fees Statement

( a ) ( b ) ( c ) (d )Expenses Net Invest- Adjusted Charitable

escription Per Books ment Income Net Income Purposes

CCOUNTING FEES 11000. 11000.0

o Form 990-PF, Pg 1, In 16b 11000. 11000. 0

orm 990-PF Other Professional Fees Statement

( a ) ( b ) ( c) (d )Expenses Net Invest- Adjusted Charitable


ROFESSIONAL CONSULTANTS6491. 0. 6491.WEBSITE DEVELOPMENT 10380. 0. 10380.

o Form 990-PF, Pg 1, In 16c 16871. 0. 16871.

orm 990-PF Taxes Statement

( a ) (b ) ( c ) (d )Expenses Net Invest- Adjusted Charitable


NNUAL FRANCHISE TAX 25. 0. 0AYROLL TAXES 8969. 0. 8969.EDERAL INCOME TAX 647879. 0. 0TATE UNEMPLOYMENT TAXES 2278. 0. 2278.

o Form 990-PF, Pg 1, I n 18 659151. 0. 11247.

23 Statement(s) 4 , 5 ,

2300507 788779 fnd 2006.05000 CARL & RUTH SHAPIRO FAMILY FND 1




orm 990-PF Other Expenses Statement

escription

NNUAL FEESELEPHONE/INTERNETUSINESS INSURANCE

MISCELLANEOUS EXPENSESOMPUTER SOFTWARE CHARGESFFICE SUPPLIESORPORATE SERVICESAYROLL SERVICE FEEOSTAGE/SHIPPING

WORKERS' COMP. INSURANCEUBSCRIPTIONS

o Form 990-PF, Pg 1 , In 23 1 4 7 7 7 . 0 .

Book Value

163831009.39523080.

(d)

CharitablePurposes

1829.2414.3002.1512.2585.

3 0 91 7 2 8

7293792 3 0

14717.

orm 990-PF U.S. and State/City Government Obligations Statement

DescriptionU.S. Other

Gov't Gov't

US TREASURY BILLS X

FEDERAL HOME LOAN BANK NOTES X

Total U.S. Government Obligations

Total State and Municipal Government Obligations

203354089.

Book Value

Total to Form 990-PF, Part II , line 1 0 a 203354089. 204493586.

Form 990-PF Corporate Stock Statement

Description

COMMON & PREFERRED STOCKS

Total to Form 990-PF, Part II , line 1 0 b

( a) ( b)

Expenses Net Invest-Per Books ment Income

5 0 0 . 0 .1 8 2 9 . 0 .2 4 1 4 . 0 .2562 . 0 .1 5 1 2 . 0 .2585 . 0 .

3 0 9 . 0 .1 7 2 8 . 0 .

729. 0 .379. 0 .2 3 0 . 0 .

(c )Adjusted

Net Income

0 .

Fair MarketValue

165180987.39312599.

204493586.

Fair MarketValue

0 .

24 Statement (s ) 7, 8,







orm 990-PF Part VIII - List of Officers, DirectorsTrustees and Foundation Managers

04-6135027

Statement

ame and Address

ARL SHAPIRON. BREAKERS ROW

ALM BEACH, FL 33480

UTH SHAPIRON. BREAKERS ROW

ALM BEACH, FL 33480

HONDA ZINNER/o 399 BOYLSTON STREETOSTON, MA 02116

LLEN JAFFE/o 399 BOYLSTON STREETOSTON, MA 02116

INDA WAINTRUP/o 399 BOYLSTON STREET

BOSTON, MA 02116

EAN S. WHITNEY112 WOODRIDGE ROADWAYLAND, MA 01778

EmployeeTitle and Compen- Ben Plan Expense

Avrg Hrs/Wk sation Contrib Account

CHAIRMAN20.00 0 . 0 .

SECRETARY & TREAS. & TRSTE4.00 0 . 0.

PRESIDENT20.00

TRUSTEE4.00

TRUSTEE4.00

PROGRAM DIRECTOR32.00

0. 0.

0 . 0 .

0 . 0.

75248. 10855 .

Totals included on 990-PF, Page 6 , Part VIII 75248. 10855 .

Form 990-PF Part XV - Line la StatementList of Foundation Managers

Name of Manager

CARL SHAPIRORUTH SHAPIRO

2 6 Statement(s) 1 3 ,




• 04- 613soa1

R ^ ^ c H SNPP1^Ro FArnwY FoKN-bR11OrJS1A Tt- ^ I S M PA-

c i l e n t Name Sta t us Rel a t ions h i p Pro g r a m A r e a P u r p os e of G r a n t Amount

c e s S p o r t Amer ica P u b l i c C h a r i t y N o n e Human Services P r o j e c t Support $40

me ri c a n Ca n c er Socie ty P u b l i c C h a r i t y N o n e H e a l t h Operat ing Suppor t $25

r . Fr i ends o f t h e I s r a e l P h i l . O r c h e s t r a P u b l i c C h a r i t y N o n e J ewi sh I n t e r e s t s Operat ing Support $5

m e r i c a n Friends o f Livno t U ' l eh ibano t P u b l i c C h ar i ty N o n e Jewish I n t e r e s t s Operat ing Suppor t $1

m e r i c a n Friends o f t he I s r a e l Museum P u b l i c C h a r i t y N o n e J ewi sh I n t e r e s t s O p era t ing S uppor t $20

r . Friends of Weizmann I n s t . of S c i . P u b l i c C h ar i t y N o n e Jewish I n t e r e s t s Operat ing Suppor t $10

m e r i c a n Hear t Assoc i a t i on P u b l i c C h a r i t y N o n e H e a l t h Operat ing Support $10

m e r i c a n J e w i s h C o m m i t t e e P u b l i c C h a r i t y N o n e Jewish I n t e r e s t s Oper a t in g S u p por t $20

m e r i c a n Socie ty f o r t h e Te c h n i o n P u b l i c C h a r i t y N o n e Jewish I n t e r e s t s Operat ing Suppor t $25

n t i -Defama t ion L e a g u e P u b l i c C h a r i t y N o n e Jewish I n t e r e s t s Oper a t i ng Su pp or t $100

MDI P u bl i c C h ar i ty N o n e Jewish I n t e r e s t s O pe ra t i ng S u p po rt $25

t i s t s f o r H u m a n i t y P u b l i c C h a r i t y N o n e A r t s & C u l t u r e P r o j e c t Support $25

s o c i a t e d Gran t M a k e r s P u b l i c C h a r i t y N o n e Othe r Membersh ip $

s o c i a t e d Gran t M a k e r s P u bl i c C h ar i ty N o n e Othe r P r o j e c t Suppor t $20

soc ia t ion of Smal l F o u n d a t i o n s P u b l i c C h a r i t y N o n e Othe r Me mbe rs h i p

t i s m S p ea k s P u b l i c C h a r i t y N o n e H e a l t h O pe ra t i n g S u p po rt $50

l l e tRox P u b l i c C h a r i t y N o n e A r t s & C u l t u r e P r o j e c t Suppor t $18

e l m o n t H i l l Schoo l P u b l i c C h a r i t y N o n e Educat ion Opera t ing Support $

t h I s r a e l D e a c o n e s s Medica l C e n t e r P u b l i c C h a r i t y N o n e H e a l t h C a p i t a l $700

t h I s r a e l D e a c o n e s s Me d ic a l C en t e r P u b l i c C h a r i t y N o n e H e a l t h Operating Support $31

Tnet P u b l i c C h a r i t y N o n e Human Services P r o j e c t Support $40

o s t o n B a l l e t P u b l i c C h a r i t y N o n e A r t s & C u l t u r e Operating Suppor t $40

o s t o n C e n t e r f o r I n d e p e n d e n t Living P u b l i c C h ar i ty N o n e Human Services P r o j e c t Suppor t $20

os t o n Ch i n at o wn N ei g h bo rh o od Ct r P u b l i c C h a r i t y N o n e Human Services P r o j e c t Support $25

h e B o s t o n F o u n d a t i o n P u b l i c C h a r i t y N o n e Human Services P r o j e c t Suppor t $10



Oy- b 1 3 S o J . - I

CfMML R i i i CRAP1R,O F Am%Lt RKn+bAmOO S?P1tjvENT - # I f ) P

e ci p i e n t Name S t a t u s Rela t ionsh i P r o g r a m Are a Pu r p o s e of G r a n t Amoun

o s t o n M ed ic a l C e n t er P u b l i c C h a r i t y N o n e H e a l t h P r o j e c t Suppor t $2

o s t o n Symphony Orches t r a P u b l i c C h a r i t y N o n e A r t s & C u l t u r e Operat ing Suppor t $4

o y s a n d G i r l s C l u b s of B o s t o n P u b l i c C h a r i t y N o n e Human Services P r o j e c t Suppor t $1

rain Tumor Soc i e ty P u b l i c C h a r i t y N o n e H e a l t h P r o j e c t Suppor t $1

r ande i s Univers i ty P u bl i c C h ar i t y N o n e Educ a t i on P r o j e c t Suppor t $5

r ande i s Univers i ty P u b l i c C h ar i t y N o n e Educat ion C a p i t a l $2,50

r ande i s Univers i ty P u b l i c C h ar i t y N o n e Educat ion C a p i t a l $35

reast C a n c e r R e s ea rc h F o u n d a t io n P u b l i c C h ar i t y N o n e H e a l t h Opera t i n g Su pport $1

r i g h a m & Women ' s H os pi ta l P u bl i c C h a r i t y N o n e H e a l t h C a p i t a l $1,60

r i g h a m & Women's Hospi ta l P u b l i c C h a r i t y N o n e H e a l t h C a p i t a l $30

r i g h a m & Women ' s Hospi ta l P u bl i c C h ar i t y N o n e H e a l t h P r o j e c t Suppor t $ 5 7

r i m m e r & May S c h o o l P u bl i c C h ar i t y N o n e Educa t ion Opera t ing Suppor t $5

h e C a r r o l l C e n t e r f o r t h e Blind P u b l i c C h a r i t y N o n e Educat ion P r o j e c t Suppor t $2

h e C e n t e r f o r Te e n Empowerment P u b l i c C h ar i t y N o n e Human Services P r o j e c t Suppor t $2

h a p e l H i l l C h a u n c y H a l l S c h o o l P u b l i c C h ar i t y N o n e Educa t ion Opera t ing Su pport $

h i ld r en ' s Hospi ta l P u b l i c C h a r i t y N o n e H e a l t h C a p i t a l $ 2 5

i tyS tage Co . P u bl i c C h ar i t y N o n e A r t s & C u l t u r e P r o j e c t Suppor t $1

larke S c h o o l f o r t h e D e a f P u b l i c C h ar i t y N o n e Human Services P r o j e c t Suppor t $1

o l . Dan ie l Marr B o y s a n d G i r l s C l u b P u b l i c C h a r i t y N o n e Human Services Opera t ing Suppor t

ombined J e w i s h Phi lanthropies P u b l i c C h a r i t y N o n e Jewish I n t e r e s t s Operat ing Suppor t $31

ommunity A r t C e n t e r P u b l i c C h a r i t y N o n e A r t s & C u l t u r e P r o j e c t Suppor t $1

ommunity M u s i c C e n t e r P u b l i c C h a r i t y N o n e A r t s & C u l t u r e P r o j e c t Suppor t $2

ommunity R o w i n g P u b l i c C h a r i t y N o n e Human Services P r o j e c t Suppor t $2

yst ic Fibrosis F o u n d a t i o n P u bl i c C h a r i t y N o n e H e a l t h Operat ing Suppor t $1

.E .A.F . I n c . P u bl i c C h a r i t y N o n e Human Services P r o j e c t Suppor t $4



' • dy-6t3so171 1 A SNAPIQo Farwt .YQL & P FWA.00ATton1

-,

S7A7V-MEHT I 6 ,PnG

ec i l e n t Name Status Relationshi Program Area Pu r p os e of Grant Amoun

ana Farber Cancer I n s t i t u t e P u bl i c C h ar i t y None H e a l t h Operating Support $12

acing History and O u r s e l v e s P u bl i c C h ar i t y None Education Operating Support $2

ed. Dorches t e r N e i g h b o r h o o d H o u s e s P u bl i c C h ar i t y None A r t s & C u l t u r e P r o j e c t Support $1

h e Food Project P u bl i c C h ar i t y None Human Services P r o j e c t Support $3

riends of th e Boston Publ ic G a r d e n P u bl i c C h ar i t y None Othe r Operating Support $

riends of th e Wil l iam E . Carter School P u bl i c C h ar i t y None Education P r o j e c t Support $3

i f t of L i f e Bone Marrow Foundation P u b l ic C h ar i t y None H e a l t h Operating Support $3

rantmakers i n th e Arts P u b l ic C h ar i t y None A r t s & C u l t u r e Operating Support $

a d a s s a h P u b l ic C h ar i t y None Jewish I n t e r e s t s P r o j e c t Support $1

andel and H a y d n Society P u b l i c C h a r i t y None A r t s & C u l t u r e Operating Support $

ar va rd G ra du a te S c h ool of Educat ion P u b l i c C h ar i t y None Edu cati on Operating Support $

brew Senior L i f e P u b l i c C h ar i t y None Jewish I n t e r e s t s P r o j e c t Support $4

o s p i c e Foundation o f PB County P u bl i c C h ar i t y None H e a l t h P r o j e c t Support $2

untington Theater Company P u b l i c C h a r i t y None A r t s & C u l t u r e P r o j e c t Support $4

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n i t ed S o u t h E n d S e t t l e m e n t s P u b l i c C h a r i t y N o n e A r t s & C u l t u r e P r o j e c t Suppor t $2

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OMB No 1545-0142

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Name E m p l o y e ri d e n t i f i c a t i o nn u m b e r


N o t e : G e n e r a l l y , t h e c o r p o r a t i o n i s n o t r e qu i re dto f i l eForm 2220 ( s e e P a r t I I b e l o wf o re x c e p t i o n s ) b e c a u s e t h e I R S w i l lf i g u r e a n y p e n a l t y owed a n d b i l lt h e

c o r p o r a t i o n H o w e v e r ,t h e c o r p o r a t i o n m a y s t i l lu s e F or m 2 22 0 t o f i g u r e t he p en a l t y I f s o , e n te r t he amount from p a g e 2 , l i n e3 4 o n t h e e s t i m a t e d t a x

p e n a l t y l i n eo f t h e c o r p o r a t i o n ' s income t a x r e t u r n ,b u t d o n o t a t t a c h Form 2220

Par t ! R e q u i r e d A n n u a l P a y ment

1 To t a l t a x ( s e e i ns tr u ct io n s) 1 598507.

2 a P e r s o n a l h o l d i n g company t a x ( S c h e d u l e P H ( F o r m 1 1 2 0 ) , l i n e2 6 ) i n c l u d e d o n l i n e1 2 a

b L o o k - b a c ki n t e r e s ti n c l u d e d o n l i n e1 u n d e r s e c t i o n 4 6 0 ( b ) ( 2 ) f o r c o m p l e t e dl o n g - t e r m

c o n t r a c t s o r o f s e c t i o n 1 6 7 ( g ) f o r d e p r e c i a t i o n u n d e r t h e income f o r e c a s t method 2b

c C r e d i t f o r F ed e ra l t ax p a ido n f u e l s ( s e e i n s t r u c t i o n s ) . . 2 c

d T o t a l . Add l i n e s2 a t hr o u g h 2 c 2 d

3 S u b t r a c t l i n e2 d f r o m l i n e1 I f t h e r e s u l ti s l e s s t h a n $ 5 0 0 , d o n o t c o m p l e t e o r f i l et h i sf o r m . T h e c o r p o r a t i o n

d o e s n o to w et h e p e n a l t y . . 3 598507.

4 E n t e rt h et a xs h o w no n t h ec o r p o r a t i o n ' s2 0 0 5 i n co m et a x r e t u r n ( s e ei n s t r u c t i o n s )C a u t i o n: I ft h e t a xI s z e r o

o r t h e t a x y e a r w as f o r l e s s t h a n 1 2 months , s k i p t h i s l i n e an d e n t e r t h e amount f r o m l i n e3 o n l i n e5 4

5 R e q u i r e da n n u a l payment . E n t e r t h e s m a l l e r o f l i n e3 o r l i n e4 . I f t h e c o r p o r a t i o n i s r e q u i r e d to s k i p l i n e4 ,

e n t e r t h e amount f r o m l i n e3 5 r,98507

Part 1 1 Reasons f o r F il in g - Check t h e b o x e s b e l o wt h a t a p p l y . I f a n y b o x e s a r e c h e c k e d , t h e c o r p o r a t i o n must f i l eForm 2220

e v e n i f i td o e s n o t ow e a p e n a l t y ( s e e i n s t r u c t i o n s ) .

6 T h e c o r p o r a t i o n i s u s i n g t h e a d j u s t e d s e a s o n a l i n s t a l l m e n t method

7 T h e c o r p o r a t i o n i s u s i n g t h e a n n u a l i z e dincome i n s t a l l m e n t method

8 0 h e co r p o r a t i o n i s a 'larcor p o r a t i o n ' f ig u r i n g f i r s t r eq u i r e d i n s ta l l m e n t based on t h e p r i o r y e a r ' s t a x

104xr* 1 1 1 Vi n , , r i n n t hn I Inrlnrn 1umont

(a ) (b) c d

9 I n s t a l l m e n t du e d a t e s . E n t e r i n columns (a ) t h r o u g h( d )t h e 1 5 t h d a y o f t he 4 th ( Form 990 - PF f l i e r s :U s e 5 t h month ) ,c o r p o r a t i o n' s

t a xy t e a

9 t h , a n d 1 2 t h months o f t h e 9 05/15/06 06/15/06 09/15/06 12/15/06

1 0 R e q u i r e d I n s t a l l m e n t s . I f t h e bo x o n l i n e6 a n d/ o r l i n e7

a b o v e i s c h e c k e d, e n t e r t h e amounts f r o m S chA , l i n e3 8 I f

t h e bo x o n l i n e8 ( b u t n o t 6 o r 7 ) i s c h ec k ed , s e e i n s t r u c t i o n s

f o r t h e amounts t o e n t e r I f n o n e o f t h e s e b o x e s a r e c h e c k e d ,

e n t e r 2 5 % o f l i n e5 a b o v e i n e a c h c o l S p e c i a l r u l e s a p p l y t o

c o r p o r a t i o n s w i t h a s s e t s o f $ 1 b i l l i o no r more ( s e e I n s t r) 1 0 149627. 149627. 149626. 149627.

1 1 E s t i m a t e dt ax p ai d o r c re d it ed f o r e a c h p e r i o d ( s e e

i n s t r u c t i o n s ) F o r column (a ) o n l y , e n te r t he amount

f r o ml i n e1 1o nl i n e1 5 1 1 191000. 191000. 2 2 0 0 0

Complete l i n e s 1 2 t h r o u g h 18 o f on e co lumn b e f o r e

g o i n g t o t he n ex t c o l u m n .

1 2 E n t e r amount , i f a n y , f r o m l i n e1 8 o f t h e p r e c e d i n g co lumn 1 2 41373. 82746.

1 3 Add l i n e s1 1 a n d 1 2 1 3 232373. 8 2 7 4 6 . 220000.

1 4 Add amounts o n l i n e s1 6 a n d 1 7 o f t h e p r e c e d i n g co lumn 14 6 6 880.

1 5 S u b t r a c t l i n e1 4 f r o m l i n e1 3 . I f z e r o o r l e s s , e n t e r - 0 - 1 5 2 3 2 3 7 3 . 8 2 7 4 6 15 31 21 6 I f t h e amount o n l i n e1 5 I s z e r o , s u b t r a c t l i n e1 3 from l i n e

1 4 O th er w i s e, e n t e r - 0 - 0 0

.1 7 Underpayment . I f l i n e1 5 i s l e s s t h a n o r e q u a l t o l i n e1 0 ,

s u b t r a c t l i n e1 5 f r o m l i n e1 0 . Then g o t o l i n e1 2 o f t h e n e x t

co lumn . O t h e r w i s e, g o t o l i n e1 8 . . 17 6 6 8 8 0

1 8 Overpayment . I f l i n e1 0 I s l e s s t h a n l i n e1 5 , s u b t r a c t l i n e1 0

f r o m l i n e1 5 T h e ng o t o l i n e1 2 o f t h e n e x t column 1 8 8 2 7 4 6 .

G o t o P a r t I Vo n page 2 t o f i g u r e t h e p e n a l t y Do n o t g o t o P a r t I Vi f t he re a r e n o e n t r i e s o n l i n e 17 - n o p e n a l t y i s owed.

JWA Fo r P a p e rwork Reduct ion A c t N o ti c e , s ee s e p a r a t e I n s t r u c t i o n s . F o r m 2 2 2 0 (2

6 1 2 8 0 101-15-07

27




Form 990-PF

F o r mMO (2 0 0 6) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 P a g e

Per t 1 3 f Figur ing t he P en a lt y

1 9 E nt e r t he d a t eo f payment o r t h e 1 5 t h d a y o f t h e 3 r d month

a f t e rt h e c l o s e o f t h e t a x y e ar , w h i c h e v e ri s e a r l i e r( s e e

i n s t r u c t i o n s ) . (Form 9 90 - PF a n d Form 990-T f i l e r s: U s e 5 t h

month i n s t e a d o f 3 r d m o n t h . ) 1 9

20 N u m b e r of days from du e date o f I n s t a l l m e n t on l i n e 9 t o t h e

date s h o w non l i n e

1920

21 N u m b e r of d ay s o n l i n e 20 a f t e r 4 / 1 5 1 20 0 6 an d b e f o r e 7/1 /2006

22 Underpayment on l i n e 17 x N u m b e r o f days on l i n e 2 1 x 7%

36 5

23 N u m b e r o f days on l i n e 20 a f t e r 6/30 /2006 an d b e f o r e 4/1 /2007

24 Underpayment on l i n e 17 x N u m b e r o f d ay s o n l i n e 23 x 8%

36 5

25 N u m b e r o f days online 20 a f t e r 3/31 /2007 an d b e f o r e 7/1 /2007

26 Underpayment o n l i n e 17 x N u m b e r o f days on l i n e 25 X'%

36 5

27 N u m b e r of d ay s o n l i n e 20 a f t e r 6/30 /2007 an d b e f o r e 10/1 /2007

28 Underpayment o n l i n e 17 x N u m b e r o f days on l i n e 27 x

36 5

29 N u m b e r of d ay s o n l i n e 20 a f t e r 9/30 /2007 an d b e f o r e 1/1 /2008

30 Underpayment on l i n e 17 x N u m b e r of days o n l i n e 29 x

36 5

31 N u m b e r o f d ay s o n l i n e 20 a f t e r 12/31 /2007 an d b e f o r e 2/16 /2008

32 Underpayment on l i n e 17 x N u m b e r o f days o n l i n e 31 x •%

36 6

33 Ad d l i n e s 2 2 , 2 4 , 2 6, 2 8, 3 0, e nd 3 2

Seel Attached Worksheet

34 P e n a l t y. Add columns ( a ) t h r o u g h ( d ) ,o f l i n e3 3 . E n t e r t h e t o t a lh e r e a n d o n Form 1 1 2 0 , l i n e3 3 ,

1275.

* F o r underpayments p a i d a f t e r March 3 1 , 2 0 0 7 : F o r l i n e s2 6, 2 8, 3 0 , a n d 3 2 , u s e t h e p en a l t y i n t e r e s tr a t ef o r e a c h c a le n da rq u a r t e r , w h i c h t h e I R S

w i l ld e t e r m i n e d u ri n g t h ef i r s tmonth i n t h e p r e c e d i n g q u a r t e r . T h e s e r a t e s a r e p u b l i s h e d q u a r t e r l y i n a n I R S News R e l e a s e a n d i n a r e v e n u e r u l i n gi nt h e I n t e r n a lR e v e n u eB u l l e t i nT o o b t a i n t h i si n f o r m a t i o n o n t h e I n t e r n e t ,a c c e s s t h e I R S w e b s i t e a t www.irs . g o v . Yo u c a n a l s o c a l l1 - 8 0 0 - 8 2 9 - 4 9 3 3

t o g e t i n t e r e s tr a t ei n f o r m a t i o n .

JWA

6 1 2 8 0 20 1 - 1 5 - 0 7

12300507 788779 fnd

F o r m2220 ( 2 0

28

2006.05000 CARL & RUTH SHAPIRO FAMILY FND



Form 990-PFUNDERPAYMENT OF ESTIMATED TAX WORKSHEET

N a m e (s )


I d e n t i f y i n gN u m b e r

04-6135027

( A )

N D a t e

( B )

A m o u n t

( C )

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B a l a n c e D ue

( D)

N u m b e r D a y s

B a l a n c e D ue

( E )

D a i l y

P en a lt y R a te

( F )

P e n a l t y

- 0 -

05/15/06 149627. 149627.

05/15/06 -191000. -41373.

06/12/06 -191000. -232373.

06/15/06 149627. -82746.

09/15/06 149626. 66880. 87 .000219178 1 2 7 5 .

12/11/06 -220000.-153120.

12/15/06 149627. -3493.

P e n a l t y D ue ( Su m o f C o l u m n F ) 1275.

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Depreciat ion a n d Amortizat ion 990-PF( I n c l u d i n g Informat ion on Lis ted Proper ty)

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Business or act iv i ty t o which this f o r m re la tes

CARL & RUTH SHAPIRO FAMILY FOUNDATIONI P 1 1 E l e c t i o n To E x p en s e C e r t a i n P r o p e r t y Under S e c t i o n 1 79 N o t e: I f y ou have a n

1 Maximum amount . Se e the i n s t r u c t i o n s f o r a h i g h e r l i m i tf o r c e r t a i n b u s i n e s s e s

2 T o t a l c o s t o f s e c t i o n 1 7 9 property placed i n s e r vi ce ( s e e i n s t r u c t i o n s )3 Threshold c o s t o f s e c t i o n 1 7 9 proper ty before r e d u c t i o n i n l i m i t a t i o n

4 Reduct ion i n l i m i t a t i o n . Subtract l i n e 3 from l i n e 2 . I f z e r o o r l e s s , e n t e r - 0 -

orm 990-PF Page 1

v f i s t e d p r o p e r t y . complete Part V before

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5 D o l l a r l i m i t a t i o n fo r t a x year Subtract l i n e 4 from l i n e 1 I f zero o r l e s s , e n t e r - 0 - I f m a r r i e d f i l i n gs e p a r a t e l y , se e I n s t r u c t i o n s

6 ( a ) D e s c r i p t i o n o f p r o p e r t y ( b )cos t (bus iness u s e o n l y )

7 L i s t e d p r o p e r t y . E n t e r the a m o u n t from l i n e 2 9 _ 1 7 1

8 T o t a l e l e c t e d c o s t o f s e c t i o n 1 7 9 p r o p e r t y . Add a m o u n t s i n co lumn ( c ) , l i n e s 6 and 7

9 T e n t a t i v e deduction. E n t e r th e s m a l l e r o f l i n e 5 o r l i n e 8

1 0 Carryover o f d i s a l l o w e d deduction from l i n e 1 3 o f your 2005 F or m 4 56 2

1 1 B u s i n e s s income l i m i t a t i o n . Enter t h e s m a l l e r o f b u s i n e s s i n come ( n o t l e s s than z e r o ) o r l i n e 51 2 Section 1 7 9 expense deduction. Add l i n e s 9 a nd 1 0 , bu t do n o t e n t e r more than l i n e 1 1

1 3 Carryover o f d i s a l l o w e d deduction t o 2007. Add l i n e s 9 and 1 0 , l e s s l i n e 1 2^ 1 3

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Part I t I Special Deprecia t ion Al lowance a nd Other Deprec ia t ion (Do not i n c l u d e l i s t e d p r o p e l

1 4 S p e c i a l a l l o w a n c ef o r q u a l i f i e dNe w Y o r k L i b e r t y o r G u l f O p p o r t u n i t yZ o n e p r o p e r t y ( o t h e r t h a n l i s t e dp r o p e r t y )

p l a c e d i n s e r v i c e d u r i n g t h e t a x y e a r .

1 5 Property s u b j e c t t o s e c t i o n 1 6 8 ( f ) ( 1 ) e l e c t i o n

1 8 Other d e o r e c t a t l o n ( i n c l u d i n g A C R S )

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Section A

17 MACRS d e d u c t i o n s f o r a s s et s p l a ce d i n se rv ice i n ta x y e a rs b e gi n ni n g befo re 2006 . 17 333.

1 8 I fy o u a r e e l e ct i n gt o g ro u p a n ya s s et s p l a c e d i n s e r vi c e d u r i n g th e ta x y e a r I n t oo n e o r m o r eg e n e r a l a s s e t a c c o u n t s, c h e c k h e r e ^

Section B - A s s et s P l ac e d in Service D u r i n g 2006 T ax Yea r U s i ng th e General Deprecia t ion S y s t e m

( a )C l a s s if i c a t io n o f p r o p e r t y( b ) Month an d

y e a r p l a c edi n s e r v i c e

(c ) Bas i s fo r d e p r e c i a t i o n(bus lness lnves tment u s e

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(d) Recoveryp e r iod (e ) Convent ion (f ) Method (g ) D e p r e c i a t i o n deduction

1 9 a 3 - ye a r p r o p er t y

5 - ye a r p r op e r ty 4 3 0 . 5 Y r s . MQ 200DB 2c 7 - ye a r p r o p e r ty

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21 L i s t e d p r o p e r t y . E n t e r a m o u n t from l i n e 2 8

2 2 Total . A dd amoun t s from l i n e 1 2 , l i n e s 1 4 through 1 7 , l i n e s 1 9 and 2 0 i n co lumn ( g ) ,an d l i n e 2 1 .

E n t e r here and on the appropriate l i n e s o f y o u r r e t u r n . P a r t n e r s h i p s a nd S c o r p o r a t i o n s - s ee i n s

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F o r r r i4562 ( 2 0 0 6 ) CARL & RUTH S HAP I RO FAMILY FOUNDATION 04-6135027 P a gr L i s t e d P r o p e r t y ( I n c l u d ea u t o m o b i l e s ,c e r t a i n o t h e r v e h i c l e s , c e l l u l a rt e l e p h o n e s , c e r t a i n c o m p u t e r s ,and p r o p e r t y used f o re n t e r t a i n m

r e c r e a t i o n , o r a m u s e m e n t . )Note : F or a n y v e h i c l e f o r which y ou a r e us ing t h e s t a n d a r d mileage r a t e o r d e d u c t i n g l e a s e e x p e n s e , c o m p l e t e only 2 4 a , 24b, c o l u m n sth rough ( c ) o f Section A , a l l o f Section B , a n d Section C i f a p p l i c a b l e .

Sect ion A - Deprecia t ion a n d Othe r Informat ion (Cau t i on : S e e t h e i n s t r u c t i o n s f o r l i m i t s f o r p a s s e n g e r a u t o m o b i l e s . )

zga UU UU I I AVe UVIUYIIGM LU S U F I Ul l the U U S l l i bb/IIIVCbthhlCll l use l : Io1111Bu I L_.l Tes II NO Z40 I T - T es - is Tne evide nce wnrten"r L J Yes I_-_J

( a ) ( b ) ( c )( C O ( e ) ( 0 ( 9 ) ( h ) ( 1 )

T y p e o f p r o p e r t y D a t e B u s i n e s s /C o s t o r

Bas i s fo r depreda t ion R e c o v e r y Method/ D e p r e c i a t i o n E l e c t e d

( l i s tv e h i c l e s f i r s t ) p l a c e d i n i n v e s t m e n to t h e r b a si s

(bus iness / inves tmen tp e r i o d C o n v e n t i o n d e d u c t i o n s e c t i o n 1

s e r v i c e u s e p e r c e n t a g e use o n l y ) c o s t

2 5 S p e c i a l a l l o w a n c ef o r q u a l i f i e dNe w Yo r k L i b e r t y o r G u lf O p p o r t u n i t yZone p r op e r ty p l a c e di n s e r v i c e d u r i n g t h e t a x y e a ra n d u s e d more t h a n 5 0% i n a q u a l i f i e db u s i n e s s u s e 2 5

2 7 Prooertv u

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2 8 A d d a m o u n t s i n c o l u m n ( h ) , l i n e s 2 5 th rough 2 7 . Enter here a n d on l i n e2 1 , p a g e 1 2 8

2 9 Add a m o u n t s i n c o l u m n ( i ) ,l i n e 2 6 . E n t e r here a n d on l i n e 7 , p a g e 1 2 9

Sect ion B - Informat ion o n Use o f Ve h i c l e s

C o m p l e t e t h i s s e c t i o n f o r v e h i c l e s u s e d b y a s o l e p r o p r i e t o r , p a r t n e r , o r o t h e r m o r e than 5% owner," or r e l a t e d person .I f you provided v e h i c l e s t o your e m p l o y e e s , f i r s ta n s w e r th e ques t ions i n Section C t o s ee i f yo u m e e t a n exception t o comple t ing t h i s s e c t i o n f o r

those v e h i c l e s .

30 To t a l b u s i n e s s l i n v e s t m e n tm i l e s d r iv e nd u r i n g t h e

( a )

Ve h i c l e

( b )

Ve h i c l e

( c )

Ve h i c l e

( d )

Ve h i c l e

(e )

Ve h i c l e

( f )

Ve h i c l e

y e a r (d o n ot i n c l u d ec o m m u t i n g m i l e s )

31 T o t a l c o m m u t i n g m i l e s d r i v e n d u r i n g t he y ea r

32 T o t a l o t h e r personal ( n o n c o m m u t i n g ) m i l e s

d r i v e n

33 T o ta l m i l e s d r i v e nd u r i n g t h e y e a r .

A d d l i n e s 30 th rough 32

34 Was t h e v e h i c l e a v a i l a b l e f o r persona l u s e Ye s No Ye s No Ye s No Ye s No Ye s No Ye s

d u r i n g o f f - d u t y h o u r s ?

35 Was t h e v e h i c l e u s e d p r i m a r i l y b y a m o r e

than 5% o w n e r o r r e l a t e d p e r s o n ?

36 I s another v e h i c l e a v a i l a b l e f o r personal

u s e ?

Sect ion C - Q u e s t i o n s f o r E m p l o y e r s Who Provide Ve h i c l e s f o r U s e b y Thei r E m p l o y e e s

A n s w e r t h e s e q u e s t io n s t o d e t e r m i n e i f y ou m e et a n exception t o comple t ing Section B f o r v e h i c l e s u s e d b y e m p l o y e e s who ar e n ot m o r e than 5%

o w n e r s o r r e l a t e d p e r s o n s .

37 D o yo u m a i n t a i n a w r it t en p ol i c ys t a t e m e n t t h a t p r o h i b i t s a l l personal u s e o f v e h i c l e s , i n c l u d i n g c o m m u t i n g , b y your Ye s

e m p l o y e e s ? .

38 D o yo u m a i n t a i n a w r it t en p ol i c ys t a t e m e n t t h a t p r o h i b i t s personal u s e o f v e h i c l e s , e x c e p t c o m m u t i n g , b y your

e m p l o y e e s ? S e e th e i n s t r u c t i o n s f o r v e h i c l e s u s e d b y corporate o f f i c e r s , d i r e c t o r s , o r 1 % o r m o r e o w n e r s

39 D o yo u t r e a t a l l u s e o f v e h i c l e s b y e m p l o y e e s a s persona l u s e ?

4 0 D o y ou provide m o r e than f i v e v e h i c l e s t o your e m p l o y e e s , o b t a i n i n f o r m a t i o nf r om y ou r e m p l o y e e s a b o u t

th e u s e o f t h e v e h i c l e s , a n d r e t a i n th e i n f o r m a t i o n rece ived? .

4 1 D o yo u m e e t th e r e q ui r em e n ts c on c e r n i n g q u a l i f i e d automobi le demonst ra t ion u s e ?

Note : I f y o u r a n s w e r t o 3 7 , 3 8 , 3 9 , 4 0 , or 4 1 i s " Ye s , " d o n ot c o m p l e t e Section B f o r t h e c o v e r e d v e h i c l e s .

Amort iza t ion

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4 2 A m o r t i z a t i o no f costs t h a t b e g i n s d u r i n g your 2006 ta x y e a r :

Documents

2006 Carl & Ruth Shapiro Family Foundation 990 (includes Madoff investments)