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Form990-PF '' Return of Private Foundation OMB No 1545-0052
Department ottheTreasury or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation ~oo Internal Revenue Service Note The organization ma be able to use a co of this return to sates state reporting requirements For calendar ear 2004, or tax ear beginning 08/01 , 2004, and ending 07/31/2005 G Check all that a pp ly Initial return Final return Amended return Address change Name change __ T7
Name of organization A Employer identification number
:%e the IRS label . FRANCES & EDWIN CUMMINGS MEM FD TR U/W 578956 13-6814491
Otherwise, Number and street (or P O box number if mail is not delivered to street address) Room/suite B Telephone number (see page 10 of print the instructions)
LLj or type . THE BANK OF NEW YORK-TAX DEPT (212) 635-1520 (tee Specific hatructions . City or town, state, and ZIP code C If exemption application is
pending, check here " " " " " " " f--
p 1 Foreign organizations check here
ONE WALL ST 28TH FL NEW YORK NY 10286 2 Foreign organizations meeting the BS% test check here and attach heck type of organization U Section 501(c 3 exempt private foundation computation . . . . . . . . .
iM c Section 4947 (a )( 1 nonexempt charitable trust Other taxable private foundation E If private foundation status was terminated
air market value of all assets at end J Accounting method Cash Accrual under section so7(o)(1)(a), check ere . llli~ 1:1 119
u -_-_ _ _
_ - - - -
p It the foundation .s in a 6o-month termination of year (from Part fl, co/ (C), line a Other (specify) - 16) " $ 36 , 156 , 571 . (Part l, column (d) must be on cash basis ~ under section 507(b)(1 )(B), check here , t
Analysis of Revenue and Expenses (d) Disbursements (The total of amounts in columns (b), (c), and (a) Revenue and (b) Net investment (c) Adjusted net for charitable d ma not necessard equal the amounts m expenses per income income books purposes column (a) (see age 11 0( the instructions) ) cash basis onl y-)
1 contributions I grants, etc , received (attach schedule)
2 Check 1 if the foundation is not required to attach Sch B
3 Interest on sarongs and temporary cash investments - 92 . 92 .
a Dividends and interest from securities . . , , 1,023, 041 . 1,023,041 . 5 a Gross rents . . . , , , . . . . , , , , , , , b Net rental income or (loss)
. --' d 68 Net gain or (loss) from sale of assets not on line 10 906 , 220 b Gross sales price for all G n n c n n n
y assets on line 6a J ~ J V J ~ Y J J . -
y 7 Capital gain net income (from Part IV, line 2) , ' 9 0 6 , 2 2 .
8 Net short-term capital gain . . , , , . . . . 9 Income modifications ~ "
1 0 a Gross sales less returns and allowances
b Less Cost of goods sold c Gross profit or (loss) (attach schedule) , , , , -
1 1 Other income (attach schedule) , , . , , , , 72 Total. Add lines 1 through 11 . . . . . . . . 1 , 929 , 353 . 1 1` 929 , 353 . 13 Compensation of officers, directors, trustees, etc
y 14 Other emplo alanesandwages . . . . . 134, 932 . 20,290 . 114 692 . °' ---~ ns, e ployee benefits ~Ee ~~ I~ chedule) . . . . . . . . .
Accounting fe tach schedule) , , , , , , °' ~ra ~th4r "Vsi es (attach schedule) . . , ` nterest , . . -SC . , , . . , , , , . . . ,
it schedule see page 14 of ihPtJr~SrrdcuoAs) 44, 538 . ~~ p
~mtian~ chedule) and depletion ' ccupancy . . . . . . . . . , . . . . . . . 55, 928 . 55, 928 .
-0 21 Travel, conferences, and meetings , , , , , . 6,488 . 973 . 5,515 . c X0 22 Printing and publications . , , , . . . . c 23 Other expenses (attach schedule) STMT . 2 , 164,897 . 110,202 . 54 695 . ~i+
24 Total operating and administrative expenses .
a Add lines 13 through 23 . . . . . . . . . . 906, 783 . 131, 415 . 230, 830 . 2 5 Contributions, gifts, grants paid . . . . . . . 1, 802,500 . 1, 802,500 . z s Total expenses and disbursements Add lines 24 and 25 2, 209,283 . 131, 415 . 2, 033,330 .
0
N
D
27 Subtract line 26 from line 12 . . «j B Excess of revenue over expenses and disbursements - 279, 930 .
b Net investment income (it negative, enter -0-) 1,797, 938 . . c Adjusted net income if negative, enter -0- ) .
C.9 For Privacy Act and Paperwork Reduction Act Notice, see the instructions . Form 990-PF (2004) (aJSA
aE1a10~000
RX1230 L797 11/02/2005 12 :13 :37 578956 3 S
Cr:
Foam 990-PF 200413-6814 4 91 P ag e 2 Attached schedules and amounts in the Beginnin g of year End of ear Balance Sfle&tS description column should be for end-of-year amounts only See instructions (a) Book Value (b Book Value c Fair Market Value
1 Cash - non-interest-bearing , , , , , , , , , , , , , , , , , , z Savings and temporary cash investments , , , , , , , , , , , 5027,299 . 1,348,028 .. 1 , 348 , 028 . 3 Accounts receivable 1
------------------------ Less . allowance for doubtful accounts 1 4 Pledges receivable
Less allowance for doubtful accounts t 5 Grants receivable � � � � � � � � , . . � 6 Recervables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the instructions)
7 Other notes and loans receivable (attach schedule) Less : allowance for doubtful accounts t
8 Inventories for sale or use , , , , , , , y 9 Prepaid expenses and deferred charges , , , , , , , , , , , , Q 10 a Investments - u S and state government obligations (attach schedule) , 749,830 . 2,672,558 . 2,671,891 .
b Investments-corporate stock (attach schedule) . . , , , , , , 18, 369, 159 . 21, 530, 004 . 30, 555 357 . c Investments - corporate bonds (attach schedule) , , , . 2, 235,572 . 1,237,736 . 1,349, 995 .
1 1 Investments - land, buildings. 10. and equipment basis Less accumulated depreciation 1 (attach schedule) - _ _ _ _ _ _ _ _ _ _ _
12 Investments - mortgage loans , , , , , , , , , , , , , , , , 13 Investments - other (attach schedule) , , , , , , , , , , , , , 213,599, 231,300 . 14 Land, buildings, and 1
equipment basis Less accumulated depreciation 1 (attach schedule)
15 Other assets (describe t _----__-_-_--_-_-_ 16 Total assets (to be completed by all filers - see page 16 of
the instructions . Also see page 1item 1 . . . . . . . . . . . 27 281 855 . 27 001 925 . 36 156 571 . T17 Accounts payable and accrued expenses , , , , , , , , , , ,
18 Grants payable ��������� �� , i s voiaiiCU ieveliUC . . . . . . . . . . . . . . . . . . . . . .
-= 20 Loans from officers, directors, trustees, and other disqualified persons X 21 Mortgages and other notes payable (attach schedule) , , , , , ' _j 22 Other liabilities (describe 1 --__----_-__--_-_-- )
23 Total liabilities add lines 17 through 22 " . , Organizations that follow SFAS 117, check here 10- H and complete lines 24 through 26 and lines 30 and 31 .
H X24 Unrestricted . . . . � ., ., . � . . ., . . ��� X 25 Temporarily restricted . . . . . . . . , , , . . , , , . . . , m 26 Permanently restricted " " " " ~ " " " " " c Organizations that do not follow SFAS 117, LL check here and complete lines 27 through 31 . " X ' . 0 2 7 Capital stock, trust principal, or current funds . . . . . . . . . 27,271,857 . 27,005,330 . 28 Paid-in or capital surplus, or land, bldg , and equipment fund , , ,
y 29 Retained earnings, accumulated income, endowment, orother funds , , 9, 998 . -3, 405 . y 30 Total net assets or fund balances (see page 17 of the z instructions) . . . . . . . . . . , . . . . . . . . . , , , . . 27, 281, 855 . 27, 001, 925 .
31 Total liabilities and net assets/fund balances (see page 17 of the instructions . . . . . . . . . . . ~ ~ ~ . . ~ . . . . . . 27, 281, 855 . 27, 001, 925 .
Analysis of Changes in Net Assets or Fund Balances
1 .925 .
JSA 4 E 1420 2 000
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1 Total net assets or fund balances at beginning of year - Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year's return) , , , , , , , , , , , , . , , , , , . , , , , , ,
2 Enter amount from Part I, line 27a , , , , , , , , , , , , , , , , , , . . . . , . , , . . 3 Other increases not included in line 2 (itemize) 4 Add lines 1, 2, and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Decreases not included in line 2 (itemize) 6 Total net assets or fund balances at end of year (brie 4 minus brie 5) - Part II, column (b) . brie 30 . . . . .
27,281,855 . -279,930 .
27,001,925 . Form 990-PF (zooa)
13-6814491
c
ain in column (h) and owned by the foundation on 12/31169 (j) Adjusted basis (k) Excess of col (i) as of 12/31/69 over col 0), if any
(I) Gains (Col (h) gain minus col (k), but not less than -0-) or
Losses (from col (h))
d
8 Enter qualifying distributions from Part XII, line 4, , , , , , , , , , , , . , . . , . , . . . . . . 1 g 1 2,033,330 . It line 8 is equal to or greater than line 7, check the box in Part VI, line 1 b an d complete that part using a t % tax rate See the Pare VI instructions on page 18
'sA 4E 1430 2 000 Foam 990-PF (2004)
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990-PF (2004)
Capital Gains and Losses for Tax on Investment Income (a) List and describe the kind(s) of property sold (e g , real estate, 2-story brick warehouse, or common stock, 200 shs MLC Co )
1a b SRE ATTACHED SCHEDULE c d e
(e) Gross sales price (f) Deprecation allowed (g) Cost or other basis (or allowable) plus expense of sale
a
e I Complete only for assets s
(i) F M.V . as of 12/31/69
a b
3
boy now I (c) Date acquired acquired ~d) Date sold a-Purchase mo , da r mo ., day, yr ) D-Donation
(h) Gain or (loss) (e) plus (f) minus (g)
r If gain, also enter in Part I, line 7 2 Capital gain net income or (net capital loss) ~ ~ ~ ~
. ~ If (loss), enter -0- in Part I, line 7 } 2
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6) If gain, also enter m Part I, line 8, column (c) (see pages 13 and 17 of the instructions) If ( loss) , enter -0- in Part I, line 8 ~
. . . 3 906 , 220 .
~1:~~~~~ ~~ Quaiiiicaiion Under Section 494U(e) TOr Reduced Tax onNet Investment Income (For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income )
If section 4940(d)(2) applies, leave this part blank
Was the organization liable for the section 4942 tax on the distnbutable amount of any year in the base period . . . . F_~ Yes ~ No If "Yes," the organization does not qualify under section 4940(e) Do not complete this part
1 Enter the appropriate amount in each column for each year, see page 18 of the instructions before making any entries
Base period years Calendar year (b) (C) Distribution ratio (or tax year beginning in) Adjusted qualifying distributions Net value of nonchantable-use assets
col b divided b col c
2003 1,613,154 . 35,750,942 . 0 .09512199986 2002 1,886,203 . 33,436,193 . 0 .05641201437 200 2,115,548 . 38,084,739 . 0 .05554844422 2000 2,563, 463 . 47,559,676 . 0 .05389992564 999 2,320,633 . 50 .918,102 . 0 .04557579542
2 Total of line 1, column (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 0 .25655817951 3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years , , , , , , , , , 3 0 .05131163590
4 Enter the net value of noncharitable-use assets for 2004 from Part X, line 5 4 36,134,727 .
5 Multiply line 4 by line 3 . . . . . . . . . . . . . . . . . . _ . , , . . . . . . . . . . . . . . . . 5 1,854,132 .
6 Enter 1% of net investment income (1% of Part I, line 27b) , . , , , . . . . . . , . , . . . . . 6 17, 979 .
7 Addlines 5and6 . , . . . , . . , , , , , , , , , , , , , , , , , , , . . . . . . . . , , . . . . 1 7 1 1,872,111 .
13-6814491 4 Excise Tax Based on Investment Income (Section gage 18 of the instructions
`17, 979 .
2
s 17, 979 . a NONE s 17,979 .
39,500 . 8
9
~0 21,521 .
4940 (e ) , or 4948 - see 1 a Exempt operating foundations described in section 4940(d)(2), check here 1 u and enter "N/A" on line 1
Date of ruling letter _ - _ - _ _ - - _ (attach copy of ruling letter if necessary - see instructions)
b Domestic organizations that meet the section 4940(e) requirements in Part V, check here " K-1 and enter 1 % of Part I, line 27b
C All other domestic organizations enter 2% of line 27b Exempt foreign organizations enter a% of Part I, line 12, col (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) , , , 3 Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) , , , 5 Tax based on investment income. Subtract line 4 from line 3 If zero or less, enter -0- , , , , , , , , , , , , , 6 Credits/Payments a 2004 estimated tax payments and 2003 overpayment credited to 2004 6a 39 500 . b Exempt foreign organizations - tax withheld at source , , , . , , , , , , , , 6b NONE c Tax paid with application for extension of time to file (Form 8868, , , , , . . 6c NONE d Backup withholding erroneously withheld , , , , , , , . , , , , . . . . . . 6d
7 Total credits and payments Add lines 6a through 6d " "
" "
" ~ ~ ~ ~ . . . . . . . . . . . . . . . . . . g Enter any penalty for underpayment of estimated tax Check here F-1 if Form 2220 is attached , 9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed , , , , , , , , , , , , , ,
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid , , , , , , 11 Enter the amount of line 10 to be Credited to 2005 estimated tax ~ ,2f ..S",,~/ . Refunded
Statements Re riding Activities
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1 a During the tax year, did the organization attempt to influence any national, state, or local legislation or did Yes No d participate or intervene in any political campaigns , , , , , , , , , , , , , , , , , , , , , , . , , , , , , . . . . . . . 1 a X
b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of the instructions for definition) , , , , , , , . . . . , . . . . . . , . . . . . _ , . . . . . . . . . . , . . . . . . 1 b X
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials published or distributed by the organization m connection with the activities
c Did the organization file Form 1120-POL for this years . , . , , . . . . . . . , . . . . . . . . . . . , . . . . . . . . . . 1 c X d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year
(1) On the organization 00- $ (2) On organization managers " S
e Enter the reimbursement (if any) paid by the organization during the year for political expenditure tax imposed on organization managers t $ '
2 Has the organization engaged in any activities that have not previously been reported to the IRS , , , , , , , , , , , , . , 2 X If "Yes," attach a detailed description of the activities
3 Has the organization made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments !f "Yes,"attach a conformed copy of the changes , , , , , , , , , , 3
4a Did the organization have unrelated business gross income of $1,000 or more during the years , , , , , , , , , , , , , , , 4a X
b If "Yes," has it filed a tax return on Form 990-T for this years , , . , , . . . . . . . . . . . . . . . , . . . . . . . . . . , 4 b 5 Was there a liquidation, termination, dissolution, or substantial contraction during the years , , , , , , , , , , , , , . . . . 5
If "Yes," attach the statement required by General Instruction T 6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either
By language in the governing instrument, or " By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instruments , , , , , , , , , , , , , , , , , , , , , , , , , , 6 ~Y 7 Did the organization have at least $5,000 in assets at any time during the years If "Yes,"complete Part I! col (c), and Part XV 7 X Ba Enter the states to which the foundation reports or with which it is registered (see page 19 of the -
instructions) " ____ NY AG REG# 03-53-27 --___--------__---__------_----__---_---_-- b If the answer is "Yes" to line 7, has the organization furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No,"attach explanation . , , , , , , , , , , , , Bb X 9 Is the organization claiming status as a private operating foundation within the meaning of section 49420(3)
or 4942(j)(5) for calendar year 2004 or the taxable year beginning in 2004 (see instructions for Part XIV on page 25)? K"Yes,"complete Part XIV ,,,,,,,,, .,,,,,,,,,,,,,,,,,,,,,,,,,,,,, .,,,
"
9 X
10 Did any persons become substantial contributors during the tax years 11 "Yes ." attach a schedule listing their names and addresses , 1 0 11 Did the organization comply with the public inspection requirements for its annual returns and exemption applications , , , 11 X
Web site address " N/A 12 7hebooks areincare of " _ THE BANK OF NEW YORK -TAX_DEPT --_____Telephoneno 0--- (212) 635-1520
located at jo. _ ONE_ WALL ST, 28TH FL,_ NEW YORK, NY, ,-- ZIP+q ~ 10286 13 Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 -Check here . . .
. . . . . . . . . . . . .
and enter the amount of tax-exempt interest received or accrued during the year . . " . II 13 .I
aEiaao 2 000 Form 990-PF (2004)
Form 990-PF 200413-6814491 Page 5 Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies. Yes No 1a During the year did the organization (either directly or indirectly)
(1) Engage in the sale or exchange, or leasing of property with a disqualified persons , , , , , , , , Yes X No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) -_ a disqualified persons . . . . . . . . . . . . , . , , . . , . , , , , , , . , , , , , , , , , , Yes X No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified persons . , , . . , . Yes X No (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified persons . , , , , , , , X Yes No
(5) Transfer any income or assets to a disqualified person (or make any of either available _, for the benefit or use of a disqualified person) , , , , , , . , . , , . , , , , , , , , , , , , , Yes ~ No
(6) Agree to pay money or property to a government officials (Exception Check "No" -" if the organization agreed to make a grant to or to employ the official for a period after termination of government service, if terminating within 90 days ) . . . . . . . . . . . . . Yes ~X No
b If any answer is "Yes" to 1a(1)-(6), did any of the acts fail to qualify under the exceptions described in Regulations - section 53.4941(d)-3 or m a current notice regarding disaster assistance (see page 20 of the instructions)? ~ " ~ "
. .
" " " 7 b X Organizations relying on a current notice regarding disaster assistance check here . . , , , , , , , , , , , ~ ~
c Did the organization engage in a prior year in any of the acts described in 1a, other than excepted acts, that were not corrected before the first day of the tax year beginning m 2004 . , , , , , , , , , , , , , , , , , , , , , , , 1 c X
2 Taxes on failure to distribute income (section 4942) (does not apply for years the organization was a private - - operating foundation defined in section 49420(3) or 4942Q)(5)) -
a At the end of tax year 2004, did the organization have any undistributed income (lines 6d and 6e, Part XIII) for taxyear(s) beginning before 2004 . . . . . . . . . . . . . . . . . . . . . . Yes ~X No ' If "Yes," list the years t _ _ _ _ _ _ _ _ , , ., .
b Are there any years listed in 2a for which the organization is not applying the provisions of section 4942(a)(2) . (relating to incorrect valuation of assets) to the year's undistributed incomes (If applying section 4942(a)(2) to all years listed, answer "No" and attach statement - see page 20 of the instructions ) , , , , , , , . . . , , , , , , , , , , 2 b X
c If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here _-
3a Did the organization hold more than a 2% direct or indirect interest in any business enterprise at any time during the years , , , , , , , , , , , , , , , , , , , . , . . , . . . . . . , u Yes u No
b If "Yes," did it have excess business holdings in 2004 as a result of (1) any purchase by the organization or disqualified persons after May 26, 1969, (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest, or (3) the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine ' - - if the organization had excess business hddings in 2004 ) . . , , . . , , , , , , , , , , , , , , , , , , , , , , , , 3 b X
4a Did the organization invest during the year any amount in a manner that would jeopardize its charitable purposes . . . . . . , 4a X
b Did the organization make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the fast day of the tax year beginning in 2004 . , , , , , . . . , , 4b X
5a During the year did the organization pay or incur any amount to (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? , , , , , , D Yes X No (2) Influence the outcome of any specific public election (see section 4955), or to carry '
on, directly or indirectly, any voter registration drive? Yes X No (3) Provide a grant to an individual for travel, study, or other similar purposes . . . . . . . . . . . . 8 Yes I X1 No (4) Provide a grant to an organization other than a charitable, etc , organization described
in section 509(a)(1), (2), or (3), or section 4940(d)(2)? , , , , , , . , , . . . . , . . . . . . . Yes [:~ No (5) Provide for any purpose other than religious, charitable, scientific, literary, or _
educational purposes, or for the prevention of cruelty to children or animals , , , , , , , , , , 1-1 Yes X No _ ' .
b If any answer is "Yes" to Sa(1)-(5), did any of the transactions fail to qualify under the exceptions described in Regulations section 53 4945 or m a current notice regarding disaster assistance (see page 20 of the instructions) ~
"
~ " ~ 5b NIA
Organizations relying on a current notice regarding disaster assistance check here . , . . , , . , , , , , , , c If the answer is "Yes" to question 5a(4), does the organization claim exemption from the
tax because it maintained expenditure responsibility for the grants . , , , , , , , , , , , , , , , , a yes El No
If "Yes, " attach the statement required by Regulations section 53 4945-5(d) '
6a Did the organization, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contracts , , , , , , , , , , , , , , . , . . . . . . . . . . . . . Yes E~ No
b Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contracts 6b X If you answered "Yes" to 66, also ale Form 8870
Form 990-PF (2004) JSA 4E 1450 2 000
RX1230 L747 11/02/2005 12 :13 :37 578956 7 -
Total number of other employees paid over $50,000 . " I NONE 3 Five highest-paid independent contractors for professional services - (see page 21 of the instructions) . If none, enter
"IJ/1"IG "
(b) Type of service I (c) Compensation
----------------------------------------------------NONE
Total number of others receiving over $50,000 for professional services , , " I NONE
Summary of Direct Charitable Activities
List the foundation's four largest direct charitable activities during the tax year Include relevant statistical information such as the number I Expenses of organizations and other beneficiaries served, conferences convened, research papers produced etc
---- -----------------------------------------------------------------------
NONE 2
3
4
Fom, 990-PF (2004)
RX1230 L747 11/02/2005 12 :13 :37 578956 8 -
13-6819991 Form 990-PF(2004) . Page 6
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation (see page 20 of the instructions) .
(a) nd average (c) Compensation (d) Conir~bunons io (e) Expense account, Name and address
(b) Title, a hours per week (If not paid, enter employee benefit plans other allowances
devoted to oosrtion -0-) and deferred rnmoensahon ~
SEE STATEMENT 4 123,276. -0- -0-
___aUQTkLYARULEYSHER ______________ SECRETARY 33,956
2 Compensation of five highest-paid employees (other than those included on line 1 - see page 21 of the instructions) . If none, enter "NONE."
(d) Contributions to a Name and address of each employee aid more than $50,000 (b~ Title and average c Compensation employee benefit (e) Expense account,
p hours per week ( ) plans and deferred other allowances devoted to position com p ensation
ELIZABETH COSTAS EXECUTIVE 501 FIFTH AVE, STE 708 NY NY DIRECTOR 85,802
Name and address of each person paid more than $50,000
1 -----------------------------------------------------------------------------
JSA 4E1460 2 000
13-6814491 coons)
Form 990-PF(2004)
Summary of Prog Page 7
see page e in Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2 Amount
1 NONE
2
All other program-related investments See page 22 of the instructions
3 NONE
d lines 1 through 3 Minimum Investment Return (All domestic foundations must complete this part Foreign foundations, see page 22 of the instructions )
1 Fair market value of assets not used (or held for use) directly in carrying out charitable, etc , purposes-
a Average monthly fair market value of securities . . . . , . . . . . . . , . . . . . . . . . . . . . . . . . 1 a b Average of monthly cash balances . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . 1 b c Fair market value of all other assets (see page 22 of the instructions) . . . . . . . . . . . . . . . . . . . 1 c d Total (add lines 1 a, b, and c) . , , . . . . . . , . . , . . . . . . . . . . . . . . . . . , . . , . . . . . . , 1 d e Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) . . . . . . . . , . . . . . . . 1e 2 Acquisition indebtedness applicable to line 1 assets 2 3 Subtract line 2 from line 1d 3 4 Cash deemed held for charitable activities Enter) "11`2 ;/.'o'f l'in'e '3 (for greater amount, see page 23
32,707,504 . 3,975,564 .
1,934 . 36,685,002 .
NONE 36,685,002 .
550,275 . 36, 134,127 . 1,806,736 .
1,806,736 .
17, 979 . 1,788,757 .
NONE
of the instructions) . . . . , . , . , . . . . . , . . , . . . . 4 5 Net value of noncharitable-use assets.Subtract line 4 from line 3 Enter here and on Part V, line 4 5 6 Minimu m investment return . Enter 5% of line 5 , . , I 6
Distributable Amount (see page 23 of the instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here lo. and do not complete this part )
1 Minimum investment return from Part X, line 6 . . . . . , . . . . . . . .
. . .
. . , . . . . . , . . . . . 1 2a Tax on investment income for 2004 from Part VI, line 5 . , . . . . , . 2a 17, 979 . -b Income tax for 2004 (This does not include the tax from Part VI ) . . . 2b c Add lines 2a and 2b 2c
3 Distributable amount before adjustments Subtract line 2c from line 1 , . . . . . , , . , . . . . . . . . 3 4 Recoveries of amounts treated as qualifying distributions . . , , , , . . . , , , , . . . , , , , , , . . . 4 5 Add lines 3 and 4 . . . . . . . . . . . . , . _ . . . . . . . . . . . . . . . . . . . 5 1,788,757 . 6 Deduction from distributable amount (see page 23 of the instructions) . . . . , .
~ . . . . , . . 6 NONE
7 Distributable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII,
line 1 7 1 788 757 .
Qualifying Distributions (see page 23 of the instructions)
1 Amounts paid (including administrative expenses) to accomplish charitable, etc , purposes' a Expenses, contributions, gifts, etc - total from Part I, column (d), line 26 , . . . . . . . _ , , , , . , , . 1 a 2,033,330 . b Program-related investments - total from Part IX-B 1 b
2 Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc , purposes . . . .
~ . . . . . . . .
~ . . .
~ . . . . . . . . . . . . . . . . . . . . . 2 NONE
3 Amounts set aside for specific charitable projects that satisfy the a Suitability test (prior IRS approval required . , , . . . . . . . . . . . , , . . . , . . . . . . . . . . 3a NONE b Cash distribution test (attach the required schedule) . . . . . . . . , . . . . , . . . . . . . . . . . . . 3b NONE
4 Qualifying distributions . Add lines 1a through 3b Enter here and on Part V, line 8, and Part All, line 4 . . . , . . 4 2,033, 330, 5 Organizations that qualify under section 4940(e) for the reduced rate of tax on net investment
income Enter 1 % of Part I, line 27b (see page 24 of the instructions . . . . . , . . . . . . . . . . . . 5 17 979 . 6 Adjusted qualifying distributions . Subtract line 5 from line 4 . . . . . . . . . . . . . . , . . . . 6 2 , 015 , 351 .
Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for the section 4940(e) reduction of tax m those years
Form 990-PF (zooa) JSA 4E1470 2 000
RX1230 L747 11/02/2005 12 :13 :37 578956 9 -
JSA 4 E 1480 2 000
RX1230 L747 11/02/2005 12 :13 :37 578956 10 -
13-6814491 Form 990-PF (2004) . P ag e
Undistributed Income (see page 24 of the instructions)
(a) (b) W (d) 1 Distributable amount for 2004 from Part XI, Corpus Years prior to 2003 2003 2004
Mme s . . . . . . . . . . . . . . . . . . . . . 1 1 788 1 757 . 2 Undistributed income, if any, as of the end of 2003 a Enter amount for 2003 only , , , , , , . . . . NON
- b Total for pnor years 2002 NONE 3 Excess distributions carryover, if any, to 2004 a From 1999 , , , , , , NONE b From 2000 , , , , , , NONE c From 2001 83, 627 . d From 2002 . . . . . , 234,215 . e From 2003 , , , , , , NONE f Total of lines 3a through e , , , , , , , , , , , 317, 842 . ' . .
4 Qualifying distributions for 2004 from Part x11, line 4 11, $ 2,033,330 . '_ . . -
a Applied to 2003, but not more than line 2a , , , NON ` ' b Applied to undistributed income of prior years .
(Election required - see page 24 of the instructions) , , NON
c Treated as distributions out of corpus (Election required - see page 24 of the instructions) , , , NON
d Applied to 2004 distnbutable amount, , , , , , 1,788 , 757 . e Remaining amount distributed out of corpus , , 244, 573 .
5 Excess distributions carryover applied to 2004 NON NONE (1l an amount appears in column (d), the same amount must be shown in column (a) )
6 Enter the net total of each column as indicated below : -
a Corpus Add lines 3f, 4c, and 4e Subtract line 5 562, 415 .
b Prior years' undistributed income Subtract line 4b from line 2b , , , , , NON
c Enter the amount of prior years' undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) ' tax has been previously assessed , , , , , , , , - NON
d Subtract brie 6c from line 6b Taxable ' amount - see page 25 of the instructions , , , , NON
e Undistributed income for 2003 Subtract line - 4a from line 2a Taxable amount - see page 25 of the instructions NON
f Undistributed income for 2004 Subtract lines 4d and 5 from line 1 This amount must be distributed in 2005 , , . , . . . . . . . NONE
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(E) or 4942(8)(3) (seepage 25 of the instructions) , . . , . , , NON
8 Excess distributions carryover from 1999 -. not applied on line 5 or line 7 (see page 25
NON of the instructions) . . . . . . . . . . . . . . . 9 Excess distributions carryover to 2005 .
' - Subtract lines 7 and 8 from line 6a . . . . . . . 562, 415 . 10 Analysis of brie 9
a Excess from 2000 . . . NONE b Excess from 2001 . . . 83, 627 . c Excess from 2002 . . . 239 215 . . , d Excess from 2003 . . . NONE e Excess from 2004 . F- 244 , 573 .
Form 990-PF (2ooa)
Total
C Qualifying distributions from Part
x11, line 4 for each year listed
d Amounts included in line 2c not used directly for active conduct of exempt activities ,
e Qualifying dislnbutions made directly for active conduct of exempt activities Subtract line 2d from line 2c .
3 Complete 3a, b or c for the alternative test relied upon
3 'Assets" alternative 1251 - enter
1) value of all assets (2) Value of assets qualifying
under section 49420)(3)(B)(i) .
b "Endowment' alternative test -enter 213 of minimum investment return shown in Part X, line 6 (or each year listed
C 'Support" alternative test - enter
(1) Total support other than grass investment income (interest, dividends, rents payments on securities loans (section 572(a)(5)), or royalties) .
(L) Juppon prom general public and 5 or more exempt organizations as provided in section 4942U1(3)(B)(w)
(3) Largest amount of support from an exempt organization
d Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors NO SUPPORT FOR CULTURAL ARTS . (SEE ATTACHED PROGRAM GUIDELINES SECTION
FOR FURTHER RESTRICTIONS,) JSA 4e,490 2 000 Form 990-PF (2004)
RX1230 L747 11/02/2005 12 :13 :37 578956 11 -
Form 990-PF (2004) 13-6814491 Private Operating Foundations (see page 25 of the instructions and Part VII-A, quest
1 a If the foundation has teceived a ruling or determination letter that it is a private operating foundation, and the ruling is effective for 2004, enter the date of the ruling . _ . . . . , , . , . ,
b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)( :
2 a Enter the lesser of the Tax year Prior 3 years
adjusted net income from (a) 2004 (b) 2003 (c) 2002 (d) 2001 Part I or the minimum investment return horn Part X for each year listed . . .
b 85% of line 2a . . . . .
Page 9
n9) NOT APPLICABLE
or
Supplementary Information (Complete this part only if the organization had $5,000 or more in assets at any time during the year - see page 26 of the instructions .)
1 Information Regarding Foundation Managers : a List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000) (See section 507(d)(2) )
N/A b List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest
N/A 2 Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs :
Check here 1 a if the organization only makes contributions to preselected charitable organizations and does riot accept unsolicited requests for funds
I( the organization makes gifts, grants, etc (see page 26 of the instructions) to individuals or organizations under other conditions, complete items 2a, b c and d
a The name, address, and telephone number of the person to whom applications should be addressed J . ANDREW LARK,ESQ- The Cummings Fd 501 Fifth Ave-Ste 708 New York, NY 10017
b The form in which applications should be submitted and information and materials they should include STMT ATTACHED
c Any submission deadlines YES APRIL 1 and OCTOBER 1
13-6814491 Form 990-PF (2004J Page 10
Supplementary Information (continued)
JSA 4 E 1491 2 000
RX1230 L747 11/02/2005 12 :13 :37 578956 12
Form 990-PF (2ooa)
FoRn 990-PF (zooa) JSA 4E1492 2 000
RX1230 L747 11/02/2005 12 :13 :37 576956 13 -
13-6814991 Form 990-PF (2004) - . Page 11
Analysis of Income-Producing Activities Enter gross amounts unless otherwise indicated Unrelated business income Excluded b section 512, 513, or 514 Related or exempt
(a) (b) (c) Id) function income Business ExcluSion (See page 26 of
1 Program service revenue code Amount code Amount the in strucGOns
a
b
t
d
e
f
g Fees and contracts from government agencies
2 Membership dues and assessments 3 Interest on savings and temporary cash investments 19 92 . 4 Dividends and interest from securities , , , , 14 1,023,041 . 5 Net rental income or (loss) from real estate -a Debt-financed property , , , , , , , , , b Not debt-financed property , , , , , , ,
6 Net rental income or (loss) from personal property .
7 Other investment income , , , , , , , , , ,
8 Gain or (loss) from saes of assets other than inventory 18 906,220 . 9 Net income or (loss) from special events , , , 10 Gross profit or (loss) from sales of inventory . . 11 Other revenue a
b
c
d
e
12 Subtotal Add columns (b), (d), and (e) 1, 929, 353 .
Fate : ".d~ U . -- --' - (b), iJi, diid Lei . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 1,929,353 . (See worksheet in line 13 instructions on page 26 to verify calculations )
Relationship of Activities to the Accomplishment of Exempt Purposes Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
Mme No. the accomplishment of the organization's exempt purposes (other than by providing funds for such purposes) (See page 27 of the instructions )
NOT APPLICABLE
Form 990-PF ( 2004~,, , 13-6814491 Pie 12 InfoFMation Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1 Did the organization directly or indirectly engage in any of the following with any other organization described in section ' Yes No 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations
a Transfers from the reporting organization to a noncharitable exempt organization of (1)Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1a1 `X
(2) Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 a(2) X
b Other transactions
(1) Sales of assets to a noncharitable exempt organization , , , , , , , , , , , , , , , , , , . _ , , , , , , , , , , , , , , 1b (l ) X
(2) Purchases of assets from a nonchantable exempt organization , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 1 b(2) X
(3) Rental of facilities, equipment, or other assets , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 1 b(3 ) X
(4) Reimbursement arrangements , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 1 b(4) X
(5) Loans or loan guarantees , , , , , , , , , , , , , , , , , , , , , , , , . , . , , , , , , , , , , , , , , , , , , , , , 1 b(5)
(6) Performance of services or membership or fundraising solicitations , , , , , , , , , , , , , , , , , , , , , , , , , , , , 1 b(6) c Sharing of facilities, equipment, mailing lists, other assets, or paid employees , , , , , , , , , , , , , , , , , , , , , , , , , 1 c X
d If the answer to any of the above is "Yes," complete the following schedule Column (b) should always show the fair market
value of the goods, other assets, or services given by the reporting organization If the organization received less than fair
market value in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services
2 a Is the organization directly or indirectly affiliated with, or related to, one or more tax-exempt organizations described m section 501(c) of the Code (other than section 501(c)(3)) or in section 527 , , , , , , , , , , , , , , , , , , -] Yes a No
b If "Yes ." complete the following schedule (a) Name of organization (b) Type of organization
s and statements, and to the best of my knowledge and all iTlortration of which pi eparej{as any knowledge
JSA 4E1493 2 OOD
RX1230 L747 11/02/2005 12 :13 :37
Under a s of penury, I declare that I have examined this return, including accompanying belief, ~/~~ t~ , correct, a7~ complete Declaration of preparer (othar than taxpayer or 5duc~ay i
O' 1 I'OURDE3 Rc»T~ ` 1 Signatu e of officer o trust 41 2 ' - c1
tm Z- Prepaarer's , y '113 ,~ p signature
10 a d a Firm's name (or yours if
self-employed), address, and ZIP code
(c) Description of relationship
FORM 990PF, PART I - TAXES
FED EXCISE TAX PAID 44,538 . --------------
TOTALS 44,538 .
xo576 2000 RX1230 L747 11/02/2005 12 :13 :37 578956 15
FRANCES & EDWIN CUMMINGS MEM FD TR U/W 578956 r
DESCRIPTION
REVENUE AND
EXPENSES PER BOOKS
13-6814491
STATEMENT 1
13-6814491
FORM 990PF, PART I - OTHER EXPENSES
,.
UTILITIES
CHK A/C MONTHLY FEE
AMEX EXPENSE
PETTYCASH/MISC EXP
OFFICE SUPPLIES
INSURANCE RENEWAL
SECURITY LEASE FEE
HEALTH INSURANCE
DREYFUS INV FEE
BANK OF NY FEE
CO-TTEE FEE
AG FILING FEE
NY POST PUB FEE
FOREIGN TAX W/HELD
AGENT SERVICE FEE
XD577 2 000
- RX1230 L747 11/02/2005 12 :13 :37 578956 STATEMENT 2 16
FRANCES & EDWIN CUMMINGS MEM FD TR U/W 578956
DESCRIPTION
TOTALS
REVENUE AND NET
EXPENSES INVESTMENT PER BOOKS INCOME --------- ------
4,849 .
255 .
5,039 .
1,130 .
3,306 .
248 .
92 .
8,172 .
11,058 . 11,058 .
70,443 . 52,832 .
52,833 . 39,625 .
750 .
35 .
6,671 . 6,671 .
16 . 16 . -------------- --------------
164,897 . 110,202 .
CHARITABLE PURPOSES
4,849 .
255 .
5,039 .
1,130 .
3,306 .
248 .
92 .
8,172 .
17,611 .
13,28 .
750 .
35 .
--------------54,695 .
2363rd
MARKET VALUE EST ANN INCOME YLD-MK'
SSETS HELD SHARESjPAR VALUE MKT PRICE TOTAL COST
AVG COST
COMMON STOCKS
Basic Materials
10,000 INTERNATIONAL FLAVORS 8 FRAGRANCES INC 37 .920 COM STK 37 .570
Total Basic Materials
Capital Goods
6,000 EATON CORPORATION COMMON 65 .340 69 .376
35,000 GENERAL ELECTRIC CO 34 .500 1 .971
7,500 3M CO 75 .000 COM 79 .770
16,000 UNITED TECHNOLOGIES CORP 50 .700 48 .524
*** Total Capital Goods
Communication services
10,000 VERIZON COMMUNICATIONS INC 34 .230 40 .766
Total Communication Services
Consumer Cyclical
9,000 HOME DEPOT INC USD 0 .05 43 .510 45 .570
375,703 .00
$375,703 .00
379,200 .00
$379,200 .00
416,258 .10 392,040 .00
69,017 .09 1,207,500 .00
598,275 .00 562,500 .00
776,391 .00 811,200 .00
$1,859,941 .19 $2,973,240 .00
391,590 .00 3,600 .00 .91 410,130 .00
TEE BANKOF NW YORK
ft
FRANCES & EDWIN CUMMINGS MEM FD TR UiW Trust Account # 578956
July 31, 2005
Page 1 ITAX
407,660 .00
$407,660 .00
342,300 .00
$342,300 .00
7,400 .00 1 .95
$7,400 .00 1.95:
7,440 .00 1 .89
30,800 .00 2 .55
12,600 .00 2 .24
14,080 .00 1 .73
$64,920.00 2.18:
16,200 .00 4 .73
$16,200 .00 4.73:
FRANCES & EDWIN CUMMINGS MEM FD TR U/W Trust Account # 578956
July 31, 2005
Page 2 ITAX TIM $ANKOF NEW YORK
2364id
SHARE5fPAR VALUE MKT PRICE TOTAL COST MARKET VALUE EST ANN INCOME YLD-MK'. AVG COST
6,000 SCRIPPS EW INC NEW CL A 50 .530 285,189 .00 303,180 .00 2,640 .00 .87 47 .531
Total Consumer Cyclical $695,319 .00 $694,770 .00 $6,240 .00 .89;
Consumer Staples
15,000 COCA-COLA CO USD 43 .760 187,185 .00 656,400 .00 16,800 .00 2 .55 12 .479
10,000 DISNEY (WALT) COMPANY . 25 .640 89,625 .00 256,400 .00 2,400 .00 .93 8 .962
8,000 NESTLE S A SPONSORED ADR 68 .76562 148,000 .00 550,125 .00 8,608 .00 1 .56 REPST6 REG SN 18 .50000
12,000 PEPSICO INC COM 54 .530 619,318 .80 654,360 .00 12,480 .00 1 .90 51 .609
10,000 PROCTER & GAMBLE CO COM 55,630 444,660 .00 556,300 .00 11,200 .00 2 .01 44 .466
Total Consumer Staples $1,488,788 .80 $2,673,585 .00 $51,488.00 1 .92:
Energy
10,000 BP PLC SPONS ADR 65 .880 540,277 .00 658,800 .00 19,810 .00 3 .00 54 .027
20,000 EXXON MOBIL CORP 58 .750 132,404 .21 1,175,000 .00 23,200 .00 1 .97 COM 6 .620
8,000 ROYAL DUTCH SHELL PLC 61 .280 168,575 .00 490,240 .00 .00 SPONSORED ADR REPSTG A SHS
Total Energy $841,256 .21 $2,324,040 .00 $43,010 .00 1.85:
Financials
10,000 AMERICAN EXPRESS COMPANY 55 .000 438,500 .00 550,000 .00 4,800 .00 .87 43 .850
``~, ,,
FRANCES & EDWIN CUMMINGS MEM FD TR UiW Trust Account # 578956 2365~d
July 31, 20[5
c
FEDERAL RLTY INV TR BENE INT
GENERAL GROWTH PPTYS INC
LIBERTY PROPERTY TRUST
MORGAN STANLEY GROUP INC
PLUM CREEK TIMBER CO INC COM
WACHOVIA CORP COM
WASHINGTON MUT INC COM
Total Financials
Health Care
AMGEN INC 5,000 79 .750 251,723 .75 398,750 .00 .00 50 .344
44 .580 385,653 .60 534,960 .00 .00 32 .137
12,000 CAREMARK RX INC COM
TEE BANKOF NEW YORK
SHARES/PAR VALUE
10,000
12,500
10,000
25,000
10,000
10,000
8,000
6,000
20,000
15,000
15,000
Page 3 ITAX
AMERICAN INTERNATIONAL GROUP INC COM
BANK AMER CORP COM
CITIGROUP INC COM
DUKE REALTY CORP
MKT PRICE TOTAL COST MARKET VALUE EST ANN INCOME YIA-MK' AVG COST
60 .200 140,210 .17 602,000 .00 5,000 .00 .83 14 .021
43 .600 578,706 .00 545,000 .00 25,000 .00 4 .58 46 .296
43 .500 206,310 .59 435,000.00 17,600 .00 4 .04 20 .631
33 .960 702,434 .80 849,000 .00 47,000 .00 5 .53 28 .097
65 .310 274,287 .50 653,100 .00 22,200 .00 3 .39 27 .428
45 .980 132,338 .15 459,800 .00 14,400 .00 3 .13 13 .233
44 .880 223,667 .20 359,040 .00 19,520 .00 5 .43 27 .958
53 .050 316,354 .80 318,300 .00 6,480 .00 2 .03 52 .725
37 .850 537,586 .00 757,000 .00 30,400 .00 4 .01 26 .879
50 .380 697,921 .50 755,700 .00 27,600 .00 3 .65 46 .528
42 .480 624,240 .00 637,200 .00 28,800 .00 4 .51 41 .616
$4,872,556 .71 $6,921,140 .00 $248,800 .00 3.59'
FRANCES & EDWIN CUMMINGS MEM FD TR UiW Trust Account # 578956
July 31, 2005
Page 4 ITAX 23661d
SHARES/PAR VALUE
15,000 CELGENE CORP
15,000 GILEAD SCIENCES INC
12,000 JOHNSON & JOHNSON COM
5,000 MEDTRONIC INC
20,000 PFIZER INC COM
6,000 QUEST DIAGNOSTICS INC COM
10,000 ST JUDE MEDICAL INC
5,000 ZIMMER HLDGS INC COM
Total Health Care
Technology
30,000 CISCO SYS INC
18,000
20,000
19 .150 305,846 .22 574,500 .00 .00 10 .194
40 .470 619,196 .40 728,460 .00 .00 34 .399
27 .140 363,437 .50 542,800 .00 6,400 .00 1 .17 18 .171
83 .460 916,844 .00 834,600 .00 8,000 .00 .95 91 .684
78 .230 599,520 .00 625,840 .00 4,000 .00 .63 74 .940
DELL INC COM
INTEL CORPORATION
INTERNATIONAL BUSINESS MACHINES CORP
L-3 COMMUNICATIONS HLDGS INC COM
THE $ANKOF NEW YORK
10,000
8,000
MKT PRICE TOTAL COST MARKET VALUE EST ANN INCOME YLD"MK7 AYG COST
47 .850 603,336 .00 717,750 .00 .00 40 .222
44 .810 365,495 .50 672,150 .00 .00 24 .366
63 .960 206,276 .37 767,520 .00 15,840 .00 2 .06 17 .189
53 .940 203,248 .75 269,700 .00 1,925 .00 .71 40 .649
26 .500 248,705 .00 530,000 .00 15,200 .00 2 .86 12 .435
51 .340 173,282 .10 308,040 .00 2,160 .00 .70 28 .880
47 .410 411,038 .80 474,100 .00 .00 41 .103
82 .360 395,077 .00 411,800 .00 .00 79 .015
$3,243,836 .87 $5,084,770 .00 $35,125 .00 .69:
FRANCES & EDWIN CUMMINGS MEN FD TR UiW rim Trust Account # 578956 BANKOF July 31, 20[5 NEW YORK
TOTAL COST
361,500 .00
344,285 .00
$3,510,629 .12
MKT PRICE AVG COST
25 .610 7 .531
38 .500 34 .428
72 .970 672,977 .60 56 .081
$672,977 .60
73 .860 58 .824
29 .540 26 .778
30 .380 20 .996
64 .300 60 .178
588,240 .00
535,568 .50
251,962 .50
481,424 .80
$1,857,195 .80
876,673 .53
281,158 .00
$1,157,831 .53
430,555,356 .53
13,903 .19 1 .58
3,263 .00 1 .16
$17,166.19 1 .48'.
4625,829 .19 2.04'.
$1,000,000 .00
$20,657,289 .30 #A TOTAL COMMON STOCKS
SHARES/PAR VALUE
48,000 MICROSOFT CORP COM
10,000 SCIENTIFIC ATLANTA INC
*** Total Technology
Transportation
12,000 UNITED PARCEL SVC INC CL B
**x Total Transportation
Utilities
10,000 DOMINION RES INC VA NEW COM
20,000 DUKE ENERGY CORP COM
12,000 OGE ENERGY CO
8,000 PUBLIC SERVICE ENTERPRISE GROUP INC COM
~ Total Utilities
Miscellaneous Common Stock
77,239 .959 BNY HAMILTON FDS INC LARGE CAP VALUE FD INSTt SHS
24,533 .857 BNY HAMILTON INTL EQUITY FUND INST
Total Miscellaneous Common Stock
11 .350 750,000 .00 9 .709
11 .460 250,000 .00 10 .189
23671a
MARKET VALUE
1,229,280 .00
385,000 .00
$4,920,480 .00
875,640 .00
$875,640 .00
738,600 .00
590,800 .00
364,560 .00
514,400 .00
$2,208,360 .00
Page 5 ITAX
c
EST ANN INCOME YIeD-MK'.
15,360 .00 1 .24
400 .00 .10
$34,160 .00 .69:
15,840 .00 1 .80
$15,840.00 1 .801,
26,800 .00 3 .62
24,800 .00 4 .19
15,960 .00 4 .37
17,920 .00 3 .48
$85,480 .00 3 .87 :
FRANCES & EDWIN CUMMING:i MEM FD TR U/W Trust Account # 578956
July 31, 20(15
Page 6 ITAX
r
MARKET VALUE EST ANN INCOME YLD_MK,
878,280 .00 42,000 .00 4 .78
$878,280 .00 $42,000 .00 4.78:
CONVERTIBLE PREFERRED STOCKS
HARTFORD FINL SVCS GROUP INC CONV PFD 73 .190 NORMAL UNIT 57 .432
TOTAL CONVERTIBLE PREFERRED STOCKS
CORPORATE BONDS
WAL-MART STORES l0AUG2009 108 .399 RATE : 6 .875% MATURITY : 08/10/09 99 .093
PROCTER 8 GAMBLE CO 108 .899 GLOBAL NT DTD 09/16/1999 99 .642 RATE : 6 .875 MATURITY : 09/15/09
SBC COMMUNICATIONS INC 105 .402 GLOBAL NT 97 .624 RATE : 5 .875'/. MATURITY : 02/01/12
TOTAL CORPORATE BONDS
GOVERNMENT BONDS
UNITED STATES TREAS NTS 98 .65625 DTD 00078 99 .41318 RATE : 3 .00 MATURITY : 12/31/06
U S TREAS NTS 98 .520 RATE : 3 .25X MATURITY : 08/15/07 99 .386
UNITED STATES TREAS NTS 98 .379 DTD 00082 99 .375 RATE : 3 .375 MATURITY : 02/15/08
GOV T NAT'L MTGE ASSN POOL # 164004 110 .215 RATE : 9 .50% MATURITY : 05/15/16 98 .929 AMRT-FACE 5,281 .98
GOV T NAT'L MTGE ASSN POOL # 209881 109 .101 RATE : 9 .00 MATURITY : 06/15/17 101 .906 AMRT-FACE 4,829 .26
244,060 .97 263,505 .00
$1,237,735 .97 $1,349,995 .00
434 .72 8 .25 715,000 5,268 .77 4,921.32
~~.~, `4:fJ `~`a` ~
BANKOF NW YORK
SHARES/PAR VALUE
12,000
500,000
500,000
250,000
750,000
750,000
750,000
800,000
MKT PRICE AVG COST
TOTAL COST
704,140 .00
4 704 ,140 .00
495,465 .00
498,210 .00
2368id
541,995 .00
544,495 .00
745,598 .85
745,400 .39
745,312.50
5,225 .41
739,921 .88
738,900 .00
737,842 .50
5,821 .53
34,375 .00 6 .34
34,375 .00 6 .31
14,687 .50 5 .57
483,437.50 6.18:
22,500 .00 3 .04
24,375 .00 3 .29
25,312 .50 3 .43
501 .60 8 .61
THE BANKOF NEW YORK
FRANCES & EDWIN CUMMINGS MEM FD TR UAW Trust Account # 578956
July 31, 2005 23691d
MARKET VALUE EST ANN INCOME Y1mD-MK'.
1,089 .52 89 .88 8 .24
TOTAL COST
1,036 .53
4,724 .04
222,541 .17
197,791 .50
SHARESIPAR VALUE MKT PRICE AVG COST
60,000 GOV T NAT'L MTGE ASSN POOL # 184529 109 .101 RATE : 9 .00% MATURITY : 07/15/17 103 .795 AMRT-FACE 998 .63
200,000 GOV'T NAT'L MTGE ASSN POOL # 208281 109 .101 RATE : 9 .00 MATURITY : 11/15/17 101 .913 AMRT-FACE 4,635 .33
4,000,000 GOU T NATL MTGE ASSN POOL # 460171 105 .745 RATE : 7 .007 MATURITY : 06/15/28 101 .531 AMRT-FACE 219,185 .12
2,999,703 GOV T NAT'L MTGE ASSN POOL # 564651 105 .642 RATE : 7 .00% MATURITY : 06/15/31 101 .328 AMRT-FACE 195,198 .92
TOTAL GOVERNMENT BONDS
OTHER ASSETS
3,000 ISHARESTR MSCI EMERGING MKTS INDEX FD 77 .100 MSCI EMERGING MKTS INDEX FD 71 .199
TOTAL OTHER ASSETS
SHORT-TERM INVESTMENTS
1,350,598 .80 DREYFUS CASH MANAGEMENT FUND #288 1 .000 1 .000
TOTAL SHORT-TERM INVESTMENTS
CASH
206,212 .05
$2,672,55/J.71 $2,671,890 .75
42,813 .98 3 .16
042,813.98 3.16'
1,350,598 .80
$1,350,598 .80
1,350,598 .80
$1,350,598 .80
PRINCIPAL CASH BALANCE .00 .00 .00
PRINCIPAL TOTALS $27,004 .9489 .88 37,037,421 .08 899,131.22 2.42'
HC- c'k /N,~ lc eAsif 0G'AL- ?s y, PD ff 3,q, pi>
Page 7 ITAX
5,057 .19
231,777 .31
213,599 .10
$213,599 .10
231,300 .00
$231,300 .00
x+17 .20 8 .24
15,344 .00 6 .62
13,663 .65 6 .62
$102,638 .55 3.84:
2,412 .00 1 .04
$2,412 .00 1.04:
FRANCES & EDWIN CUMMINGS MEM FD TR U/W Trust Account # 578956
July 31, 2005
Page 8 ITAX
MKT PRICE AVG COST
MARKET VALUE EST ANN INCOME YLD-M
HELD FOR INCOME
INCOME CASH BALANCE 3,404 .78- .00 3,404 .78-
' `~'
,tps
THE BANKOF NEW YORK
SHARESjPAR VALUE TOTAL COST
2S70id
B GAIN OR LOSS ON SALE OF SECURITIES THE BANK Or NEW YORK
TAXPA1rER I .D .NO . 13-6814491 007 PAGE
578956 FRANCES 8 EDWIN CUMMINGS MEM FD TR U/W TAX YEAR ENDED 07/31/2005 3428 1 01
NUMBER OF SHARES DESCRIPTION DATES SOLD NET PROCEEDS (I=INCOME) GAIN/LOSS
OR FACE AMOUNT RATE MATURITY 8 ACQUIRED COST (ST/PIT/LT=TERM)
SHORT TERM SALES
10,000 ODO ARAMARK CORP CL B 12/14/2004 270,193 .66 7,227 .66 01/29/2004 262,966 .00 ST
1,012 .029 BNY HAMILTON SMALL CAP GROWTH FUND INST 06/29/2005 15,656 .08 430 .79 12/21/2004 15,225 .29 ST
5,000 .000 BOSTON SCIENTIFIC CORP COM 06/08/20D5 139,730 .14 39,613 .86- 12/14/2004 179,344 .00 ST
5,000 .000 BOSTON SCIENTIFIC CORP COM 06/29/2005 138,109 .21 34,677 .19- 02/22/2005 172,786 .40 ST
7,500 000 C D W CORP 02/22/2005 428,203 .64 76,447 .86- COM 06/28/2004 504,651 .50 ST
SHORT TERM NET PROCEEDS COST GAIN/LOSS PRINCIPAL 991,892 73 1,134,973 .19 ST 143,080 .46-
LONG TERM SALES
500,000 000 NATIONSBANK CORP 05/15/2005 500,000,00 3,970 .00- 6 375'/. 05/15/05 06/09/1998 503,970 .00 LT
500,000 .000 GENERAL MTRS ACCEP CORP 05/05/2005 473,750 .00 20,773 .22- 5R UNSUB 05/10/1999 194,523 .22 LT
6 .125 01/22/08
.000 GOVT NATL MTGE ASSN POOL q 460171 08/15/2004 434 00 6 .64- 7 .007 06/15/28 06/09/1998 440 .64 LT
.000 GOVT NATL MTGE ASSN POOL # 460171 D9/15/2004 435 .68 6 .67- 7 00X 06/15/28 06/09/1998 442 35 LT
000 GOVT NATL MTGE ASSN POOL it 460171 10/15/2004 438 .40 6 .71- 7 .D0% 06/15/28 06/09/1998 445 .11 LT
000 GOVT NATL MTGE ASSN POOL # 460171 11/15/2004 441 16 6 .75- 7 .007 06/15/28 U6/09/1998 447 .91 LT
000 GOVT NATL MTGE ASSN POOL # 460171 12/15/2004 443 .88 6 .79- 7 00% 06/15/28 06/09/1998 450 .67 LT
B GAIN DR LOSS ON SALE OF SECURITIES THE BANK OF NEW YORK
TAXPAYER I .D .NO . 13-6814491 00 PAGE
7 578956 FRANCES 8 EDWIN CUMMItJGS MEt4 FD TR U/W TAX YEAR ENDED 07/31/2005 3428 02
NUMBER OF SHARES DESCRIPTION DATES SOLD NET PROCEEDS (I=INCOME) GAIN/LOSS OR FACE AMOUNT RATE MATURITY 8 ACQUIRED COST (ST/PIT/LT=TERM)
000 GOVT NATL MTGE ASSN POOL # 460171 01/15/2005 446 .68 6 .83-7 00% 06/15/28 06/09/1998 453 .51 LT 000 GOVT NATL MTGE ASSN POOL # 460171 02/15/2005 86,857 .00 1,329 .89-7 .00i 06/15/28 06/09/1998 88,186 .89 LT
.000 GOVT NATL MTGE ASSN POOL # 460171 03/15/2005 309 .64 y,7y-7 007 06/15/28 06/09/1998 314 .38 LT
.000 GOVT NATO MTGE ASSN POOL # 460171 04/15/2005 297 12 4 .54-7 .007 06/15/28 06/04/1998 301 .66 LT
.0D0 GDV'T NATL MTGE ASSN POOL # 460171 05/15/2005 299 .00 4 .57-7 .00% 06!15/28 06/09/1998 303 .57 LT 000 GOVT NATL MTGE ASSN POOL # 460171 06/15/20D5 300 .84 4 .60-7 .00;1 06/15/28 06/09/1998 305 .44 LT .000 GOVT NATL MTGE ASSN POOL # 460171 07/15/2005 302 .72 4 .63-7 .00% 06/15/28 06/09/1998 307 .35 LT 000 GOVT NAT'L MTGE ASSN POOL # 195320 08/15/2004 249 .19' 4 .75-
9 .007 01/15/17 09/16/1991 253 .94 LT 000 GOVT NAT'L MTGE ASSN POOL # 195320 09/15/2D04 251 .16 4 .79-
9 00% 01/15/17 09/16/1991 255 .95 LT
000 GOVT NAT'L MTGE ASSN POOL # 195320 10/15/2004 253 .15 4 .82-9 00y 01/15/17 09/16/1991 257 .97 LT
.000 GOVT NAT'L MTGE ASSN POOL p 195320 11/15/2004 255 .15 4 .86-9 .007 01/15/17 09/16/1991 260 .01 LT
.000 GOVT NAT'L MTGE ASSN POOL q 195320 12/15/2004 257 .18 4 .90-9 00% 01/15/17 09/16/1991 262 .08 LT .000 GOVT NAT'L MTGE ASSN POOL # 195320 01/15/2005 259 .20 4 .94-9 007 01/15/17 09/16/1991 264 .14 LT
.000 GOVT NAT'L MTGE ASSN POOL 8 195320 02/15/2005 261 .26 4 .98-9 00% 01/15/17 09/16/1991 266 .24 LT
.000 GOVT NAT'L MTGE ASSN POOL p 195320 03/15/2005 263 .32 5 .02-9 .00% 01/15/17 09/16/1991 268 .34 LT
B GAIN OR LOSS ON SALE OF SECURITIES THE BANK Or NEW YORK
TAXPAYER I .D :Nfl . 13-6814491 007 PAGE
578956 FRANCES 8 EDWIN CUMMINGS MEM FD TR U/W TAX YEAR ENDED 07/31/2005 3428 03
NUMBER OF SHARES DESCRIPTION DATES SOLD NET PROCEEDS (I=INCOME) GAIN/LOSS
OR FACE AMOUNT RATE MATURITY 8 ACQUIRED COST (ST/PIT/LT=TERM) .IOU GOVT NAT'L MTGE ASSN POOL i! 195320 04/15/2005 265 .41 5 .06-
9 .007 01/15/17 09/16/1991 270 47 LT
.000 GOVT NAT'L h1TGE ASSN POOL It 195320 05/15/2005 267 .52 5 .10- 9 .D0% 01/15/17 09/16/1991 272 .62 LT
000 GOVT NAT'L MTGE ASSN POOL IF 195320 06/15/2005 269 .64 5 .14- 9 .00y 01/15/17 09/16/1991 274 .78 LT
000 GOVT NAT'L MTGE ASSN POOL # 195320 07/15/2005 23,124 .76 3~3l~/!f- 9 00 ;, 01/15/17 09/16/1991 23,(fqf,;20 LT i
OUO GOVT NAT'L MTGE ASSN POOL # 164004 08/15/2004 30 .97 .34 9 50% 05/15/16 06/16/1986 30 .63 LT,
000 GOVT NAT'L MTGE ASSN POOL # 164004 09/15/2004 31 .22 .34 9 .50'/. 05/15/16 06/16/1986 30 .88 LT
.000 GOVT NAT'L MTGE ASSN POOL # 164004 10/15/2004 31 .50 .34 9 .50 05/15/16 06/16/1986 31 .16 LT
.000 GOVT NAT'L MTGE ASSN POOL # 164004 11/15/2D04 31 .75 .35 9 .50 05/15/16 06/16/1986 31 .40 LT
000 GOVT NAT'L MTGE ASSN POOL 1t 164004 12/15/2D04 32 .68 .36 9 50y 05/15/16 06/16/1986 32 .32 LT
.000 GOVT NAT'L MTGE ASSN POOL # 164004 01/15/2005 32 .29 .35 9 50 ;/ 05/15/16 06/16/1986 31 .94 LT
.000 GOVT tdAT'L MTGE ASSN POOL # 164004 02/15/2005 32 .55 .35 9 .50 05/15/16 06/16/1486 32 .20 LT
.000 GOVT NAT'L MTGE ASSN POOL # 164004 D3/15/20D5 32 .83 .36 9 50Y 05/15/16 06/16/1986 32 .47 LT
000 GOVT NAT'L MTGE ASSN Peal 4 164004 04/15/2005 33 .10 .36 9 .50 05/15/16 06/16/1986 32 .74 LT
000 GOVT NAT'L MTGE ASSN POOL i1 164004 05/15/2005 33 .38 .36 9 50% 75/15/16 06/1611986 33 .02 LT
.000 GOVT NAT'L MTGE ASSN POOL # 164004 06/15/2005 33 .66 .37 9 .50 05/15/16 06/16/1986 33 .29 LT
B GAIN OR LOSS ON SALE OF SECURITIES THE BATIK OF NEW YORK
TAXPAYER I .D .NO 13-6814491 007 PAGE
578956 FRANCES 8 EDWIN CUMMINGS MEM FD TR U/W TAX YEAR ENDED 07/31/2005 3428 04
NUMBER OF SHARES DESCRIPTION DATES SOLD NET PROCEELS (I=INCOME) GAIN/LOSS
OR FACE AMOUNT RATE MATURITY 8 ACQUIRED COST (ST/PT/LT=TERM) 000 GOV T NAT'L MTGE ASSN POOL # 164004 07/15/2005 33 94 .37
9 .50 05/15/16 06/16/1986 33 .57 LT
.U00 GOV T NAT'L MTGE ASSN POOL # 564651 08/15/2004 12,239 .57 "' 162 .55- 7 007 06/15/31 06/08/2001 12,402 .12 LT
.000 GOV T NAT'L MTGE ASSN POOL # 564651 09/15/2004 14,381 .90 191 .01- 7 .00% 06/15/31 06/08/2001 14,572 .91 LT
000 GOV T NAT'L MTGE ASSN POOL # 564651 10/15/2004 15,323 .65 2D3 .51- 7 .007 06/15/31 06/08/2001 15,527 .16,LT
000 GOV T NAT'L MTGE ASSN POOL # 564651 11/15/2004 10,798 .18 143 .41- 7 00% 06/15/31 06/08/2001 10,941 .59,LT
000 GOV T NAT'L MTGE ASSN POOL # 564651 12/15/2004 22,528 .19 299 .20- 7 .00% 06/15/31 06/08/2001 22,827 .39, LT
.000 GOV T NAT'L MTGE ASSN POOL # 564651 01/15/2005 11,795 .82 156 .66- 7 .00% 06/15/31 06/08/2001 11,952 .48, LT
000 GOV T NAT'L MTGE ASSN POOL q 564651 02/15/2005 6,457 .01 85 .75- 7 .00% 06/15/31 06/08/2001 6,542 .76 LT
.000 GOV T NAT'L MTGE ASSN POOL # 564651 03/15/2005 338 .01 4 .48- 7 .00Y 06/15/31 06/08/2001 342 .49,LT
.000 GOV T NAT'L MTGE ASSN POOL # 564651 04/15/2005 18,838 .58 250 .20- 7 .00/ 06/15/31 06/08/2001 19,OB8 .78,LT
000 GOV T PJAT'L MTGE ASSN POOL # 564651 05/15/2005 44,023 .49 584 .70- 7 .00% 06/15/31 06/08/20U1 44,608 .19 LT
.000 GOV T NAT'L MTGE ASSN POOL # 564651 06/15/20D5 10,077 .71 133 .84- 7 .007 06/15/31 U6/08/20U1 10,211 .55 LT
009 GOV T HAT'L MTGE ASSN POOL # 564651 07/15/2005 22,076 .73 293 21- 7 007 06/15/31 06/08/2001 22,369 .94 LT
000 GOV T NAT'l MTGE ASSN POOL # 208281 08/15/2004 27 .09 ~ .51- 9 00i 11/15/17 08/23/1991 27 .60 LT
000 GOV T NAT'L MTGE ASSN POOL # 208281 09/15/2004 27 .32 .52- 9 00i 11/15/17 08/23/1991 27 .84 LT
B GAIN OR LOSS ON SALE OF SECURITIES THE BANK OF NEW YORK
TAXPAYER I .D N0 . 13-6814491 007 PAGE
578956 FRANCES 8 EDWIN CUMMItJGS MEM FD TR U/W TAX YEAR ENDED 07/31/2005 3428 05
NUMBER OF SHARES DESCRIPTION DATES SOLD NET PROCEEDS (I=INCOME) GAIN/LOSS
OR FACE AMOUNT RATE MATURITY & ACQUIRED COST (ST/IT/LT=TERM) 000 GOVT NAT'L MTGE ASSN POOL # 208281 10/15/2004 27.53 .52-
9 00i 11/15/17 08/23/1991 28 .05 LT
.000 GOVT NAT'L MTGE ASSN POOL # 208281 11/15/2004 27 75 .53- 9 00y 11/15/17 08/23/1991 28 .28 LT
000 GOVT NAT'L MTGE ASSN POOL # 208281 12/15/2004 54 .42 1 .04- 9 .007 11/15/17 08/23/1991 55 .46 LT
000 GOV T NAT'L MTGE ASSN POOL # 208281 01/15/20 0 5 28 .40 .54- 9 .00i 11/15/17 08/23/1991 28 .94 LT
.000 GOVT NAT'L MTGE ASSN POOL # 208281 02/15/2005 28 .63 .54- 9 00% 11/15/17 08/23/1991 29 .17 LT
000 GOVT NAT'L MTGE ASSN POOL # 208281 03/15/2005 28 .85 .55- 9 .00% 11/15/17 08/23/1991 29 .40 LT
.000 GOVT NAT'L MTGE ASSN POOL # 208281 04/15/2005 29 .08 .55- 9 .00% 11/15/17 08/23/1991 29 .63 LT
000 GOVT NAT'L MTGE ASSN POOL # 208281 05/15/2005 55 .56 1 .06- 9 .007 11/15/17 08/23/1991 56 .62 LT
.000 GOV T IJAT'L MTGE ASSN POOL # 208281 06/15/2005 29 .75 .56- 9 00y 11/15/17 08/23/1991 30 .31 LT
000 GOVT NAT'L MTGE ASSN POOL N 208281 07/15/2005 29 .99 .57- 9 .007 11/15/17 08/23/1991 30 .56 LT ~
.000 GOV T NAT'L MTGE ASSN POOL # 184529 D8/15/2004 4 .64 .17- 9 00% 07/15/17 08/23/1991 4 .81 LT
.000 GOVT tJAT'L MTGE ASSN POOL # 184529 D9/15/2004 4 .67 .17- 9 00/. 07/15/17 08/23/1991 4 .84 LT
000 GOV T tJAT'L MTGE ASSN POOL # 184529 10/15/2004 4 .71 .17- 9 007 07/15/17 08/23/1991 4 .88 LT
.000 GOVT NAT'l MTGE ASSN POOL # 184529 11/15/2004 355 .72 13 .47- 9 007 07/15/17 08/23/1991 369 .19 LT
.000 GOV T NAT'L MTGE ASSN POOL # 184529 12/15!2004 3 .57 .13- 9 00Y 07/15/17 08/23/1991 3 .70 LT
B GAIN OR LASS ON SALE OF SECURITIES THE BANK OF NEW YORK
TAXPAYER I .D NO 13-6814491 007 PAGE
578956 FRANCES & EDWIN Cl1MMINGS MEM FD TR U/W TAX YEAR ENDED 07/31/2005 3428 06
NUMBER OF SHARES DESCRIPTION DATES SOLD NET PROCEE)5 (I=INCOME) GAIN/LOSS
OR FACE AMOUNT RATE 11ATURITY & ACQUIRED COST (ST/I4T/LT=TERM) U00 GOV'T NAT'L MTGE ASSN POOL # 184529 D1/15/2005 3 .80 .14-
9 .007 07/15/17 08/23/1991 3 .94 LT
.000 GOV'T NAT'L MTGE ASSN POOL # 184529 D2/15/2005 4 .04 .15- 9 .00% 07/15/17 08/23/1991 4 .19 LT
000 GOV T NAT'L MTGE ASSN POOL N 184524 03/15/2005 3 .66 .13- 9 00% 07/15/17 08/23/1991 3 .79 LT
.000 GOV T NAT'L MTGE ASSN POOL # 184529 04/15/2005 3 .69 .13- 9 .00y 07/15/17 08/23/1991 3 .82 LT
000 GOV T NAT'L M7GE ASSN POOL # 184529 US/15/2U05 3 .72 .14- 9 .00% 07/15/17 08/23/1991 3 .86 LT
000 GOV T NAT'L MTGE ASSN POOL k 184529 06/15/2005 3 .75 .14- 9 00/ 07/15/17 08/23/1991 3 .89 LT
.000 GOV T NAT'L M7GE ASSN POOL # 184529 07/15/2005 3 .78 .14- 9 .00% 07/15/17 08/23/1991 3 .92 LT
000 GOV T NAT'L MTGE ASSN POOL R 209881 DB/15/2004 175 .55 - - 3 .34- 9 .00% 06/15/17 08/23/1991 178 .89 LT
.000 GOV T NAT'L MTGE ASSN POLL 11 209881 09/15/2004 176 .94 3 .37- 9 007 06/15/17 08/23/1991 180 .31 LT
000 GOV T NAT'L MTGE ASSN POOL 1k 209881 10/15/2004 178 .34 3 .39- 9,007 06/15/17 08/23/1991 181 .73 LT
000 GOV T NAT'L MTGE ASSN POOL # 209881 11/15/2004 179 76 3 .42- 9 007 06/15/17 08/23/1991 183 .18 LT
000 GOV T NAT'L MTGE ASSN POOL # 209881 12/15/2004 181 .17 3 .45- 9 .007 06/15/17 08/23/1991 184 .62 LT
000 GOV T IdAT'L MTGE ASSN POOL It 209881 01/15/2005 182 .61 3 .47- 9 00 ;, 06/15/17 08/23/1991 186 .08 LT
000 GOV'T NAT'L MTGE ASSN POOL # 209881 02/15/2005 184 .06 3 .50- 9 Boy 06/15/17 D8/23/1991 187 .56 LT
000 GOV T NAT'L MTGE ASSN POOL # 209881 03/15/2005 185 .51 3 .53- 9 .OOi 06/15/17 08/23/1991 189 .04 LT
B GAIN OR LOSS ON SALE OF SECURITIES THE BATIK OF NEW YORK
PAGE TAXPAYER I .D .NO . 13-6814491 007 578956 FRANCES 8 EDWIN CUMMINGS MEM FD TR U/W TAX YEAR ENDED 07/31/2005 3428 07
NUMBER OF SHARES DESCRIPTION DATES SOLD NET PROCEECS (I=INCOME) GAIN/LOSS
OR FACE AMOUNT RATE MATURITY 8 ACQUIRED COST (ST/HIT/LT=TERM) .000 GOVT NAT'L MTGE ASSN POOL # 209881 04/15/2005 186 .98 3 .56-
9 00% 06/15/17 08/23/1991 190 .54 LT
000 GOV T NAT'L MTGE ASSN POOL # 209881 05/15/2005 188 .47 3 .59- 9 00% 06/15/17 08/23/1991 192 .06 LT
.000 GOVT NAT'L MTGE ASSN POOL # 209881 06/15/2005 189 .95 3 .62- 9 00% 06/15/17 08/23/1991 193 .57 LT
.000 GOVT NAT'L MTGE ASSN POOL # 209881 07/15/2005 191 .46 3 .64- 9 00Y 06/15/17 OB/23/1991 195 .10 LT
5,000 .000 AMERICAN EXPRESS COMPANY 06/29/2U05 268,963 .74 17,538 .74 01/31/2001 251,425 .00 LT
5,000 .000 AMGEN INC 12/14/2004 323,192 .43 252,411 .18 06/27/1996 70,781 .25 L7
5,000 000 AMGEN INC 05/05/2005 293,390 .72 216,671 .97 10/30/1996 76,718 .75 LT
16,326 .158 BNY HAMILTOIJ SMALL CAP GROWTH FUND INST 06/29/2005 252,565 .67 7,438 .72- 12/19/2003 260,004 .39 LT
5,000 .000 CITIGROUP INC 06/08/2005 239 .016 .99 151,82 .82 CAM 02/18/1997 87 .934 .17 LT
10,000 000 EUROPE FD INC O6/29/Z005 105,145 .57 74,568 .43- COM 06/02/1998 179,714 00 LT
4,000 000 GILEAD SCIENCES INC 12/14/2004 147,836 .53 69,603 .13 03/14/2003 78,233 .40 LT
5,000 000 GILEAD SCIENCES INC 06/08/2005 211,366 .15 101,657 .95 04/25/2003 109,70B .Z0 LT
8,000 000 MEDTRONIC INC 12/14/2004 389,030 .88 152,500 .88 06/08/1998 236,530 .00 LT
5,000 000 MEDTRONIC INC 06/08/2005 262,958 .99 116,502 .74 03/D5/1999 146,456 .25 LT
5,000 aao oMNICaM GROUP INC cOM obio9/2005 407,843 .93 7,493 .93 03/02/2004 +00,350 .00 LT
TAXPArER I .D N0 . 13-6814491 007 PAGE TAX YEAR ENDED 07/31/2005 3428 08
DATES SOLD NET PROCEEDS (I=INCOME) GAIN/LOSS
8 ACQUIRED COST (ST/MT/LT=TERM) 06/29/2005 461,954 .66 58,133 .66 03/02/2D04 403,821 .00 LT
12/14/2004 267,343 .73 16,793 .73 03/14/2003 250,550 .00 LT
COST GAIN/LOSS 3 864,13,91-o-M LT 1, 049,30,0,w
TOTAL COST 4 999,27S.3q
4 999,2'j1 3Y
PF'INCIPAL TOTAL GAIN/LOSS SHORT TERM 143,080 46- LONG TERM 1,049 .3OD "efo
LONG TERM NET PROCEEDS PRINCIPAL 4,913,606 .68
TOTAL NET PROCEEDS PRINCIPAL 5,905,499 .41
GROSS GAIN 1,168,053 .43 104 5,905,499 .41
B GAIN OR LOSS ON SALE OF SECURITIES
578956 FRANCES 8 EDWIN CUMMTNGS MEM FD TR U/W
NUMBER OF SHARES DESCRIPTION
OR FACE AMOUNT RATE MATURITY 10,000 .000 ROHM 8 HAAS COMPANY COMMON
5,00 OOO1WAL MART STORES INC
THE BANK OF NEW YORK
A TEAM OF PROFESSIONALS DEVOTE AN AVERAGE OF FORTY HOURS PER WEEK PROVIDING INVESTMENT MAIu~GEN1ENT, ADMINISTRATION, FIDUCIARY, AND GRANTMAR.[NG SERVICES .
XD577 2 000
- RX1230 L747 11/02/2005 12 :13 :37 578956 STATEMENT 4 18
FRANCES & EDWIN CUMMINGS MEM FD TR U/W 578956 13-6814491
FORM 990PF, PART VIII - LIST OF OFFICERS, DIRECTORS, AND TRUSTEES
TITLE AND TIME NAME AND ADDRESS DEVOTED TO POSITION ---------------- -------------------
J . ANDREW LARK, ESQ . CO-TRUSTEE 52,833 . 501 FIFTH AVE NEW YORK, NY 10017
-THE BANK OF NEW YORE TRUSTEE 70,443 . ONE WALL STREET NEW YORK;'NY 10286
GRAND TOTAL-__ 123,276 .
Except in unusual circumstances, The Cummings Fund approves grants for only one year at a time and will not consider more than two consecutive grants towards the same project. The Co-Trustees generally give higher priority to programs which have not been previously supported by the Fund. Additionally, organizations which have received a grant must generally wait until the completion of the term of that grant before submitting any other funding requests to the Fund. For example, charities which received grants stemming from their Spring of 2005 submissions are not generally eligible to request additional funding until the Fall of 2006's submission period .
PROGRAM GUIDELINES
Grant Restrictions
The Cummings Fund is legally restricted from contributing, in any manner, to the cultural arts . Further, as a matter of general practice, The Cummings Fund does NOT normally approve grant requests falling into the following categories :
Programs located outside of New York City and outside of the following Northeastern New Jersey Counties : Bergen, Essex, Hudson, Passaic and Union
" Alcoholism and Drug Addiction Treatment Programs " Building, Equipment, and other Capital Expenses " Camping Programs " Capital Campaigns " Conferences " Day Care Programs for Children or Adults " Documentaries, Films, and Videos " Environmental Programs " General Operating Expenses " Legal Aid Programs " Moving Expenses " Private Elementary and Secondary Schools " Private Individuals " Public Opinion Polls, Surveys, and Research Studies " Public Policy and/or Advocacy Groups " Scholarship Programs " Senior Citizens' Programs " Soup Kitchens and/or Food Banks " Well-Endowed Institutions o Organizations without Audited Financial Statements " Organizations lacking tax exempt status under I.R.C . Section 501(c)(3)
NOTE: Proposals should be paginated and then clipped or stapled together, NOT permanently bound . Please mail or messenger proposals so as to arrive on or before the submission deadline . (The office is located at 501 Fifth Avenue, between 41" and 42"d Streets, across the street from the New York Public Library.) When a submission deadline falls on a weekend, proposals may be submitted by 5 :00 P.M. on the following Monday. FAXED and e-mailed proposals will not be accepted .
PROGRAM GUIDELINES
Grant Proposal Requirements
The Cummings Fund will consider up to TWO different grant requests at any given time from any one applicant organization .
Organizations submitting one grant request should limit it to seven pages in length . Organizations submitting two grant requests should present them in one combined proposal limited to ten pages in length . The organization's submission should include one cover letter, a brief executive summary covering the one or two projects, and a separate description of the one or two projects which includes the following information :
" Specific amount requested ;
" Population to be served, an indication of how they will be selected, the number involved, and how they will benefit from the project ;
" Specific and measurable goals of the project which the organization hopes to meet at the conclusion of the grant period and how the results will be evaluated;
" An indication of the relevance of this project to both present objectives of the applicant's organization and to its future plans;
" An indication of plans to secure future funding for the program ; and " A full, itemized project budget which reflects the portion(s) of the budget being requested
from The Cummings Fund.
All applicants should please submit one original and THREE copies of the grant proposal as outlined above, collated with the following attachments:
" Organization's operating budget ;
" Listing of other prospective fenders receiving the same grant request(s), the amounts requested, and the status ;
" Listing of additional sources of funding for the project(s) and the amount of support from each source ; and
" Audited financial statements (for most recent year available) .
Additionally, an organization must please submit one copy of its IRS tax exempt letter .
" Is the Executive Director an effective leader with a capable and well-trained staff?
" Does the organization have a proven track record in general? Specifically as to this program area?
" To what degree does this project help to address one or more of the community's increasing needs?
" Is this organization offering innovative programs or is it replicating/duplicating others' efforts?
" What is the overall present financial situation of this organization?
" Is the Board of Directors an "active" or a "paper" Board?
" Does the Board financially support the organization commensurate with their means? Do they also solicit support from their personal business contacts?
" Does the organization have a written Strategic Plan and Mission Statement? If so, when were they last updated and to what extent was the full Board involved in the process?
PROGRAM GUIDELINES
Grant Review Process
The Trustees endeavor to support organizations whose projects they believe will have the greatest impact on issues of concern to The Cummings Fund. Once it is determined that the organization and the one or two proposed projects fall within our program guidelines, a thorough review of each proposal focuses on such questions as the following :
" Is there a need for this kind of program or service in the community? Are other agencies already providing the same kind of service? If so, is the proposal unique in any respect?
" Are the goals of the proposal aggressive enough? Too aggressive? " Is the budget for the proposal realistic? (Does it include all costs associated with the
project including in-kind costs and administrative costs?)
" Is the proposal cost effective in its anticipated results?
" Has the program been well planned?
" Is the Board/Staff committed to undertaking the project regardless of Cummings Fund support? (If so, how?)
" Does the project appear to be sustainable in the future?
If there is sufficient interest in a proposal, the review process focuses on the management and governance of the organization including such areas as strategic planning, fiscal responsibility, and board involvement. A meeting is arranged with the Executive Director and, if possible, a Board Member, in an effort to answer such questions as the following :
Ms . Elizabeth H. Costas Executive Director The Frances L . & Edwin L. Cummings Memorial Fund 501 Fifth Avenue, Suite 708 New York, New York 10017-6103 Telephone : 212-286-1778 ; FAX : 212-682-9458
PROGRAM GUIDELINES
Proposal Processing
The Co-Trustees and Board of Advisors meet twice a year to consider grant requests . The deadlines for submitting grant requests are April 1 for review in June and October 1 for review in December . Grant requests are accepted for the June meeting beginning on February 1 and for the December meeting beginning on August 1 . Groups submitting early will have a greater chance of being site-visited .
Once a full proposal has been received, the Co-Trustees will review the request to determine whether it will be submitted to the Board of Advisors for their consideration . If the Co-Trustees should decide to deny funding for any request without submitting it to the Board of Advisors, organizations will be so notified prior to the Board Meeting. The Co-Trustees have final responsibility for all grant proposal approvals and rejections .
Site visits are given a high priority by the Co-Trustees of The Cummings Fund. They are, however, arranged only at the request of the Co-Trustees. The Co-Trustees will not meet with any organization until a complete grant request together with all supporting documentation has been submitted to the Fund.
The Cummings Fund Board of Advisors
The members of the Board of Advisors, individuals living in and knowledgeable about the region we serve, provide their respective expertise in areas of special concern to the Fund. They are chosen through a process overseen by the Co-Trustees of the Fund and serve without compensation . However, following each Board Meeting, each Member may designate a total sum of $2,000 to one or more qualifying charities to which s/he requests the Fund to make a donation .
Any additional inquiries may be directed to:
Court Appointed Special Advocates, Inc . Babies Can't Wait initiative 25,000 350 Broadway, Suite 1107 New York, NY 10013-3911
The Frances L. & Edwin L. Cummings Memorial Fund Trust U/W 7-31-05 Fiscal Year 13-6814491
Form 990-PF
Part XV - Grants paid during the year
Recipient Purpose of Grant Amount
The Ackerman Institute for the Family Fresh Start for Families with Teens Program $40,000 149 East 78th Street New York, NY 10021
Alliance for Nonprofit Governance Development and expansion of the ANG website 35,000 257 Park Avenue South, 4`h Floor New York, NY 10010
Andrew Glover Youth Program, Inc . Court advocacy/alternatives to incarceration 25,000 100 Centre Street, Room 1541 and prevention programs in East Harlem New York, NY 10013
Asian Professional Extension, Inc . Middle School Mentoring Program 30,000 64 Fulton Street, Suite 302 New York, NY 10038
trig Brothers Big Sisters of New York City Young Mothers Mentoring Program 25,000 223 East 30~' Street New York, NY 10016
Bronx Preparatory Charter School Salary support of a new Assistant 50,000 3872 Third Avenue Principal position Bronx, NY 10457
Boys and Girls Clubs of Union County, Inc . Salary support for Development Director 83,000 934 Stuyvesant Avenue and a Director of Education and Teen Services Union, NJ 07083
Cancer Research Institute, Inc . Cancer Vaccine Collaborative 100,000 681 Fifth Avenue New York, NY 10022-4209
Coalition of Voluntary Mental Health Agencies, Inc . Coordinated Clinical and Career Support for 50,000 90 Broad Street Adolescents : Recovery through Education & New York, NY 10004 Work Initiative
Community Service Society of New York Experience Corps Literacy Initiative 25,000 105 East 22"° Street New York, NY 10010
Highbridge Community Life Center, Inc . 979 Ogden Avenue Bronx, NY 10452
Program Manager for a new Recreation Center 50,000
Recipient
Court Appointed Special Advocates of New Jersey, Inc . 844 West State Street Trenton, NJ 08618
East Side House, Inc . 337 Alexander Avenue Bronx, NY 10454
The Education and Research Foundation of the BBB of Metropolitan New York, Inc . 257 Park Avenue South, 4`h Floor New York, NY 10010
The Educational Alliance, Inc . 197 East Broadway New York, NY 10002-5598
Episcopal Social Services of New York, Inc . 305 Seventh Avenue New York, NY 10001-6008
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212 Washington Avenue Newark, NJ 07102
Franciscan Community Center At Holy Name of Jesus Roman Catholic Church, Inc. 214 West 97`h Street New York, NY 10025
Future Leaders Institute 134 West 122"d Street New York, NY 10027
Grand Street Settlement 80 Pitt Street New York, NY 10002
Groundwork, Inc . 595 Suffer Avenue Brooklyn, NY 11207
Henry Street Settlement 265 Henry Street New York, NY 10002-4808
Purpose of Grant Amount
Union County Expansion project $50,000
Clinical Social Worker position for the 90,000 Family Services program
NYPAS student intern charity analyst program 17,500
Edgies Boys and Girls Club Programs 30,000
Project College Bound 40,000
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Expansion of the tutorial program and 35,000 support for a Youth Education Director position
Support for the High School Placement 50,000 Coordinator position
Community Technology Center literacy programs 25,000
Social Worker for the Support Services Program 30,000
Agency-wide strategic planning process 35,000
Supportive Housing Network of New York 475 Riverside Drive, Suite 250 New York, NY 10115
Renewed support for the Family and Youth 25,000 Supportive Housing initiative
Recipient
The HOPE Program, Inc . One Smith Street Brooklyn, NY 11201
Hudson Guild 441 West 26~' Street New York, NY 10001
iMentor 150 Court Street, 2"d Floor Brooklyn, NY 11201
Inwood House 320 East 82"d Street New York, NY 10028
Lawyers Alliance for New York 330 Seventh Avenue, 10' Floor New York, NY 10001
New Alternatives for Children, Inc . 37 West 26'h Street New r ork, N r 1 uu 1 u
New York City Outward Bound Center, Inc . 29-46 Northern Boulevard Long Island City, NY 11101
The Reading Team, Inc . 2090 Adam Clayton Powell Jr. Boulevard, Ste . 600 New York, NY 10027
Resources for Children with Special Needs, Inc . 116 East 16`h Street, 5~' Floor New York, NY 10003-2112
South Bronx Overall Economic Development Corporation 555 Bergen Avenue Bronx, NY 10456
Sponsors For Educational Opportunity, Inc . 23 Gramercy Park South New York, NY 10003
Purpose of Grant Amount
Support of the Deputy Director position $25,000
Early Options component of their afterschool 50,000 program for middle school students
Replication of their Partner Site Model at 30,000 the Brooklyn International High School
Support of an Education Specialist for pregnant 50,000 and parenting teens in foster care
Endowment Fund Campaign 100,000
Expansion of their mental health programs 32,000
New Schools Initiative 50,000
Staffing for an afterschool program for 25,000 grades K-4 in West Harlem
Support for the Intake Coordinator position 32,000
Support for an Education Coordinator for 50,000 the Youth Development Center
Ninth grade component of the SEO Scholars 30,000 Program
Recipient
Teach for America 315 West 36~' Street, 6'h Floor New York, NY 10018
United Neighborhood Houses of New York, Inc. 70 West 36t' Street, 5'h Floor New York, NY 10018
Urban Education Exchange, Inc . 219 West 135' Street New York, NY 10030
Volunteer Consulting Group 6 East 39`h Street, Suite 602 New York, NY 10016-1236
Women's Housing and Economic Development Corporation 50 East 168` Street Bronx, NY 10452
YMCA of Greater New York 333 Seventh Avenue New York, NY 10001
Young Women's Christian Association of the City of New York 52 Broadway @ Exchange Place New York, NY 10004
Salary support for the Director of the 50,000 new Westport Family Resource Center
Purpose of Grant Amount
Program Director for the New York $50,000 Regional Office
Consultant for the strategic planning process 50,000
Teacher training intern program 50,000
College Intern position 20,000
Salary support for the Vice President 50,000 for Development and Communications
Operation Healthy Kids initiative 25,000
Citizens Advice Bureau 2054 Morris Avenue Bronx, NY 10453
The Greater Richmond Community Foundation 7325 Beaufont Springs Drive, Suite 210 Richmond, VA 23225-5546
Miss Porter's School 60 Main Street Farmington, CT 06032
Mount Sinai Medical Center One Gustave L Levy Place New York, NY 10029-6574
Outreach, Inc . P.O . Box 1444 Summit, NJ 07901
Sigma Pi Phi Foundation, Inc . 50 Hurt Plaza, Suite 750 Atlanta, GA 30303
The Society of Memorial Sloan-Kettering Cancer Center 1275 York Avenue New York, NY 10021
Steps for Breath Program 1,000
Total Grants paid during the year :
Advisory Board Designated Grants :
Recipient Purpose of Grant
General support
Cullather Cancer Fund
General Support
Palliative Care Institute
Bridges, Inc . Programs
General support
Amount
$4,000
1,500
3,000
500
4,000
4,000
