TY 2014 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

2014

Open to Public Inspection

For calendar year 2014, or tax year beginning 2014, and ending , 20

Name of foundation
PUFFIN FOUNDATION LTD

Number and street (or P.O. box number if mail is not delivered to street address)20 PUFFIN WAY Room/suite

City or town, state or province, country, and ZIP or foreign postal code
TEANECK, NJ076664167

A Employer identification number

13-3155489

B Telephone number (see instructions)

(201) 836-3400

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$18,245,087J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............	7,022,275
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	326,690		326,690
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		1,932,688
b	Gross sales price for all assets on line 6a 7,574,510
7	Capital gain net income (from Part IV, line 2)...			1,932,688
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	9,281,653		2,259,378
13	Compensation of officers, directors, trustees, etc.	66,229		0	39,737
14	Other employee salaries and wages......	83,191		0	66,553
15	Pension plans, employee benefits.......	7,746		0	4,648
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		30,778	0	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		31,374	7,623	10,056
19	Depreciation (attach schedule) and depletion...		8,806	0
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........	46,463		0	41,817
23	Other expenses (attach schedule).......		318,005	107,088	173,308
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	592,592		114,711	336,119
25	Contributions, gifts, grants paid........	3,245,498			3,245,498
26	Total expenses and disbursements. Add lines 24 and 25	3,838,090		114,711	3,581,617
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	5,443,563
b	Net investment income (if negative, enter -0-)			2,144,667
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2014)

Form 990-PF (2014)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	172,227	149,155	149,155
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule) 50,000
		Less: allowance for doubtful accounts 0	100,000	50,000	50,000
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........	46,888	52,520	52,520
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........
	c	Investments—corporate bonds (attach schedule)........
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	10,500,421	8,607,174	9,864,897
	14	Land, buildings, and equipment: basis 726,823
		Less: accumulated depreciation (attach schedule) 59,024	675,685	667,799	667,799
	15	Other assets (describe )	0	7,460,716	7,460,716
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	11,495,221	16,987,364	18,245,087
	17	Accounts payable and accrued expenses..........	174
	18	Grants payable..................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........	174	0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	0	0
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	11,495,047	16,987,364
	30	Total net assets or fund balances (see instructions)......	11,495,047	16,987,364
	31	Total liabilities and net assets/fund balances (see instructions)..	11,495,221	16,987,364

Part III	Analysis of Changes in Net Assets or Fund Balances
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)...............	1	11,495,047
2	Enter amount from Part I, line 27a.....................	2	5,443,563
3	Other increases not included in line 2 (itemize)	3	62,334
4	Add lines 1, 2, and 3..........................	4	17,000,944
5	Decreases not included in line 2 (itemize)	5	13,580
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	16,987,364

Form 990-PF (2014)

Page 3

Part IV

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.)		(b) How acquired P—Purchase D—Donation	(d) Date sold (mo., day, yr.)
1 a	UBS #26686		2014-12-31
b	UBS #26686		2014-12-31
c	UBS #40395		2014-12-31
d	UBS #40395		2014-12-31
e	UBS #40396		2014-12-31
	UBS #40396		2014-12-31
	UBS #40397		2014-12-31
	UBS #40397		2014-12-31
	UBS #47986		2014-12-31
	UBS #48224		2014-12-31
	UBS #48224		2014-12-31
	UBS #48225		2014-12-31
	UBS #48225		2014-12-31
	UBS #51324		2014-12-31
	UBS #51324		2014-12-31
	UBS #48740		2014-01-23
	UBS #48740		2014-12-31
	UBS #48741		2014-12-31
	UBS #48742		2014-12-31
	UBS #48742		2014-12-31
	UBS #48743		2014-12-31
	UBS #48222		2014-12-31
	UBS #48222		2014-12-31
	UBS #48223		2014-12-31
	UBS #48223		2014-12-31
	UBS #48220		2014-12-31
	UBS #48219		2014-12-31
	UBS #48219		2014-12-31
	UBS #48221		2014-12-31
	UBS #48221		2014-12-31
	UBS #48215		2014-12-31
	UBS #48215		2014-12-31
	UBS #79243		2014-12-31
	UBS #79243		2014-12-31
	UBS #79244		2014-12-31
	UBS #79244		2014-12-31
	UBS #79245		2014-12-31
	UBS #89296		2014-12-31
	UBS #89296		2014-12-31
	UBS #89297		2014-12-31
	UBS #89297		2014-12-31
	CAPITAL GAINS FROM SETTLEMENTS	P	2014-12-31

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	83,268	83,770	-502
b	253,787	260,583	-6,796
c	132,623	105,995	26,628
d	1,114,611	647,506	467,105
e	106,321	89,379	16,942
	1,108,660	699,831	408,829
	289,055	282,048	7,007
	689,685	472,247	217,438
	30,000	25,973	4,027
	84,028	85,463	-1,435
	313,232	312,881	351
	182,966	168,993	13,973
	879,382	542,437	336,945
	48,592	47,070	1,522
	705,511	424,744	280,767
	14,506	13,676	830
	107,098	71,279	35,819
	14,464	14,310	154
	40,634	40,793	-159
	56,822	49,561	7,261
	21,348	11,727	9,621
	3,482	3,585	-103
	42,329	41,712	617
	132,660	133,632	-972
	247,883	261,705	-13,822
	39,186	29,534	9,652
	48,862	49,136	-274
	73,481	63,913	9,568
	31,089	28,607	2,482
	165,401	110,006	55,395
	220	219	1
	30,957	28,441	2,516
	7,734	7,738	-4
	116,947	106,563	10,384
	6,130	5,919	211
	95,332	81,018	14,314
	809	839	-30
	101,190	95,853	5,337
	58	57	1
	1,172	1,170	2
	150,713	141,909	8,804
	2,282		2,282

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			-502
b			-6,796
c			26,628
d			467,105
e			16,942
			408,829
			7,007
			217,438
			4,027
			-1,435
			351
			13,973
			336,945
			1,522
			280,767
			830
			35,819
			154
			-159
			7,261
			9,621
			-103
			617
			-972
			-13,822
			9,652
			-274
			9,568
			2,482
			55,395
			1
			2,516
			-4
			10,384
			211
			14,314
			-30
			5,337
			1
			2
			8,804
			2,282

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	1,932,688
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . . . .		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net 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 foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2013	2,849,624	12,453,933	0.228813
2012	2,338,245	11,388,636	0.205314
2011	1,893,046	11,814,990	0.160224
2010	1,502,815	11,227,979	0.133846
2009	1,348,584	10,457,903	0.128954

2	Total of line 1, column (d) ......................	2	0.857151
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	0.171430
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	11,633,448
5	Multiply line 4 by line 3.......................	5	1,994,322
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	21,447
7	Add lines 5 and 6.........................	7	2,015,769
8	Enter qualifying distributions from Part XII, line 4..............	8	3,581,617
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2014)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	21,447
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% 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-)	2	0
3	Add lines 1 and 2...........................	3	21,447
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	21,447
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	24,000
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	24,000
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	2,553
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax2,553	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

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 foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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 instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

NJ, NY

If the answer is "Yes" to line 7, has the foundation 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 .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?

If "Yes," complete Part XIV.............................

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. Click to see attachment

...............................

Yes

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

HTTP://WWW.PUFFINFOUNDATION.ORG/

The books are in care of bullet

THE FOUNDATION Telephone no. bullet

(201) 836-3400

Located at bullet

20 PUFFIN WAYTEANECKNJ ZIP+4 bullet

07666

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country?

16 No

See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet

Form 990-PF (2014)

Page 6

Part VII-B

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

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

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 in a current notice regarding disaster assistance (see instructions)? ........

Organizations relying on a current notice regarding disaster assistance check here......... bullet

Did the foundation 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 in 2014?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2014, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2014?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?........................YesNo

If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation

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 foundation had excess business holdings in 2014.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation 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 first day of the tax year beginning in 2014?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)..................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.......................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (2014)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
PERRY ROSENSTEIN	DIRECTOR 10.00	0	0	0
20 PUFFIN WAY TEANECK,NJ07666	DIRECTOR 10.00	0	0	0
GLADYS MILLER-ROSENSTEIN	DIRECTOR 40.00	32,897	374	0
20 PUFFIN WAY TEANECK,NJ07666	DIRECTOR 40.00	32,897	374	0
NEAL ROSENSTEIN	DIRECTOR 40.00	32,897	61	0
20 PUFFIN WAY TEANECK,NJ07666	DIRECTOR 40.00	32,897	61	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

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 of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1	GRANTS AND AWARDS FOR THE FURTHERANCE OF THE ARTS. AWARDS WERE GIVEN TO 373 BENEFICIARIES.	1,382,705
2	VARIOUS CHARITABLE ORGANIZATIONS (DETAIL AVAILABLE UPON REQUEST).	1,862,793
3	ADVERTISING/SHOWS & SALARIES RELATE PREDOMINATELY TO OPERATIONS OF ART, MUSIC, DRAMA & OTHER CULTURAL EVENTS INCLUDING, BUT NOT LIMITED TO EXHIBITS & OTHER FUNCTIONS.	336,119
4

Form 990-PF (2014)

Page 8

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1	NONE	0
2


All other program-related investments. See instructions.
3		0

Total. Add lines 1 through 3......................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

11,464,526

Average of monthly cash balances.......................

346,081

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

11,810,607

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

11,810,607

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

177,159

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

11,633,448

Minimum investment return. Enter 5% of line 5..................

581,672

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

581,672

Tax on investment income for 2014 from Part VI, line 5......

21,447

Income tax for 2014. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

21,447

Distributable amount before adjustments. Subtract line 2c from line 1............

560,225

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

560,225

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

560,225

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

3,581,617

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

3,581,617

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b (see instructions).................

21,447

Adjusted qualifying distributions. Subtract line 5 from line 4..............

3,560,170

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 in those years.

Form 990-PF (2014)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2013	(c) 2013	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7					560,225
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2014:
a From 2009.......	831,899
b From 2010.......	951,182
c From 2011.......	1,321,552
d From 2012.......	1,785,179
e From 2013.......	2,246,137
fTotal of lines 3a through e.........		7,135,949
4Qualifying distributions for 2014 from Part
XII, line 4: $ 3,581,617
a Applied to 2013, but not more than line 2a					0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions).........		0
d Applied to 2014 distributable amount.....					560,225
e Remaining amount distributed out of corpus		3,021,392
5 Excess distributions carryover applied to 2014.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		10,157,341
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........			0
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......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2013. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2014. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8Excess distributions carryover from 2009 not applied on line 5 or line 7 (see instructions) ...		831,899
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......		9,325,442
10 Analysis of line 9:
a Excess from 2010....	951,182
b Excess from 2011....	1,321,552
c Excess from 2012....	1,785,179
d Excess from 2013....	2,246,137
e Excess from 2014....	3,021,392

Form 990-PF (2014)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2014, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2014	(b) 2013	(c) 2012	(d) 2011	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ...........
e Qualifying distributions 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:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList 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).)

PERRY ROSENSTEIN

bList 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.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

PUFFIN FOUNDATION LTD CO PERRY ROSE
20 PUFFIN WAY
TEANECK,NJ076664167
(201) 836-8400

bThe form in which applications should be submitted and information and materials they should include:

WRITTEN PROPOSAL DETAILING HOW A GRANT WILL BE USED TO FOSTER AND ENCOURAGE NEW WORKS IN THE AREA OF FINE ARTS, THE WRITTEN WORD AND PERFORMING ARTS. PARTICULARLY INTERESTED IN FOSTERING YOUNG ARTISTS.

cAny submission deadlines:

NONE

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

NONE

Form 990-PF (2014)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
TOTAL GRANTS 20 PUFFIN WAY TEANECK,NJ07666	NONE	N/A	FURTHERANCE OF THE ARTS	1,382,705
OTHER CONTRIBUTIONS 20 PUFFIN WAY TEANECK,NJ07666	NONE	N/A	CHARITABLE ORGANIZATIONS	1,862,793
Total ................................. 3a				3,245,498

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2014)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ............
4 Dividends and interest from securities....			14	326,690
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property .............
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory .............			18	1,932,688
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)..		0		2,259,378	0

13Total. Add line 12, columns (b), (d), and (e)..................

132,259,378

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2014)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political

Yes

organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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 foundation. If the foundation 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 received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name Firm's address			Firm's EIN
				Phone no.

Form 990-PF (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Name of the organization

PUFFIN FOUNDATION LTD

Employer identification number

13-3155489

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or
property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 2

Name of organization PUFFIN FOUNDATION LTD

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	PERRY ROSENSTEIN 12 SINCLAIR COURT TEANECK, NJ07666	$7,021,820	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 3

Name of organization PUFFIN FOUNDATION LTD

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
1	VARIOUS PUBLICLY TRADED SECURITIES	$ 7,021,820	2014-11-11
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 4

Name of organization
PUFFIN FOUNDATION LTD

Employer identification number

13-3155489

Part III

Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet

$
Use duplicate copies of Part III if additional space is needed.

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2014 AllOthProgRltdInvestmentsSch

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Category	Amount
NONE	0

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2014 DepreciationSchedule

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense
COMPUTER	2007-11-17	5,295	5,295	200DB	5.000000000000	0
COMPUTER	2009-05-01	3,376	3,181	200DB	5.000000000000	195
COMPUTER	2009-05-01	16,060	15,751	200DB	5.000000000000	309
FURNITURE	2009-09-01	13,626	10,586	200DB	7.000000000000	1,215
COMPUTER	2009-12-01	2,085	1,964	200DB	5.000000000000	121
COMPUTER	2010-04-01	1,252	1,035	200DB	5.000000000000	144
OUTSIDE TABLES	2011-03-03	3,500	1,969	200DB	7.000000000000	437
CHAIRS	2011-05-20	1,118	630	200DB	7.000000000000	140
SCULPTURE	2011-08-08	4,000	2,252	200DB	7.000000000000	500
SPEAKERS	2011-09-09	1,162	654	200DB	7.000000000000	145
DATA PROCESSING EQUIPMENT	2011-08-10	1,207	858	200DB	5.000000000000	139
TEANECK LAND	2011-07-15	380,000		L		0
TEANECK BUILDING	2011-07-15	270,000	16,875	SL	40.000000000000	6,750
FURNITURE- PIANO	2012-08-07	18,856	7,313	200DB	7.000000000000	3,298
COMPUTER	2012-01-03	2,115	1,100	200DB	5.000000000000	406
TELPEHONES	2012-05-15	4,826	2,509	200DB	5.000000000000	927
CHAIRS	2013-05-01	2,272	325	200DB	5.000000000000	727
COPIER	2013-04-04	448	90	200DB	5.000000000000	143
SHELVING	2014-06-27	920		200DB	5.000000000000	552

- TIN:

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TY 2014 ExpenditureResponsibilityStmt

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Grantee's Address	Grant Date	Grant Amount	Grant Purpose	Amount Expended By Grantee	Any Diversion By Grantee?	Dates of Reports By Grantee	Date of Verification	Results of Verification
16 COURT ST STE 2200 BROOKLYN,NY11241	2014-07-08	50,000	FURTHERANCE OF THE ARTS	50,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
7207 BRYAN ST PHILADELPHIA,PA19119	2014-01-13	10,000	FURTHERANCE OF THE ARTS	10,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
1178 WEST LAURELTON PARKWAY TEANECK,NJ07666	2014-03-07	3,000	FURTHERANCE OF THE ARTS	3,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
156 RAMPO VALLEY RD MAHWAH,NJ07430	2014-03-06	2,500	FURTHERANCE OF THE ARTS	2,500	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
139 ST JOHNS PLACE BROOKLYN,NY11217	2014-07-08	1,500	FURTHERANCE OF THE ARTS	1,500	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
434 EAST 58TH STREET NEW YORK,NY10022	2014-06-10	1,500	FURTHERANCE OF THE ARTS	1,500	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
105 E 22ND STREET 3RD FLOOR NEW YORK,NY10010	2014-03-31	1,500	FURTHERANCE OF THE ARTS	1,500	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
PO BOX 337 KAUNEONGA LAKE,NY12749	2014-07-08	1,500	FURTHERANCE OF THE ARTS	1,500	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
140 N COLUMBUS BLVD PHILADELPHIA,PA19106	2014-03-06	1,500	FURTHERANCE OF THE ARTS	1,500	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
209 CHESTNUT ST BOSTON,MA02139	2014-07-29	1,500	FURTHERANCE OF THE ARTS	1,500	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
2013 E GENESSEE ST SYRACUSE,NY13210	2014-04-23	1,500	FURTHERANCE OF THE ARTS	1,500	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
30 HOWARD COURT NEWARK,NJ07103	2014-04-15	1,250	FURTHERANCE OF THE ARTS	1,250	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
PO BOX 37 SEARSPORT,ME04974	2014-06-10	1,250	FURTHERANCE OF THE ARTS	1,250	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
301 JACOB ST SEEKONK,MA02771	2014-03-10	1,250	FURTHERANCE OF THE ARTS	1,250	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
18 SUNNY RIDGE RD SPRING VALLEY,NY10977	2014-04-29	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
161 A CHRYSTIE ST NEW YORK,NY10002	2014-01-13	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
60 PARK PLACE 9TH FLOOR NEWARK,NJ07102	2014-03-10	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
115 ORCHARD ST DEMAREST,NJ07627	2014-01-13	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
60 WEST 129TH 4C NEW YORK,NY10027	2014-05-20	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
3967 EAST EAGLE TRAIL HERNANDO,FL34442	2014-06-27	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
123 WEST 93RD ST APT 2D NEW YORK,NY10025	2014-03-13	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
7 COLLEGE AVE WINANTS HALL NEW BRUNSWICK,NJ08901	2014-05-14	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
621 S CASSINGHAM RD BEXLEY,OH43209	2014-03-10	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
10 PARK TERRACE EAST 4C NEW YORK,NY10034	2014-01-31	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
122 ADELPHI ST 3B BROOKLYN,NY11205	2014-04-15	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
1401 OAKLANDK AVE DURHAM,NC27705	2014-07-29	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
147 BERGEN ST BROOKLYN,NY11217	2014-04-07	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
5030 45TH AVE SEATTLE,WA98118	2014-05-07	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
2222 2ND AVE STE 200 SEATTLE,WA98121	2014-05-20	1,000	FURTHERANCE OF THE ARTS	1,000	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
106 WEST ROAD ALFROD,MA01266	2014-03-13	950	FURTHERANCE OF THE ARTS	950	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
40 ARTWILL ST MILTON,MA02186	2014-05-30	900	FURTHERANCE OF THE ARTS	900	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
25 EAST MAIN STREET CAMBRIDGE,NY12816	2014-05-14	900	FURTHERANCE OF THE ARTS	900	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
136 EAST 13TH STREET NEW YORK,NY10003	2014-07-08	900	FURTHERANCE OF THE ARTS	900	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
400 TENAFLY RD 877 TENAFLY,NJ07670	2014-07-08	900	FURTHERANCE OF THE ARTS	900	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
200 PARK AVE NEW YORK,NY10166	2014-01-22	900	FURTHERANCE OF THE ARTS	900	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
219 WEST 19TH STERET NEW YORK,NY10034	2014-06-16	850	FURTHERANCE OF THE ARTS	850	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
611 CENTRAL AVE TOWSON,MD21921	2014-07-08	800	FURTHERANCE OF THE ARTS	800	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
PO BOX 10 NORTH POWDER,OR97867	2014-02-08	800	FURTHERANCE OF THE ARTS	800	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
901 MILLARD RD STONE MOUNTAIN,GA30088	2014-03-13	750	FURTHERANCE OF THE ARTS	750	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
PO BOX 411074 SAN FRANCISCO,CA94141	2014-01-22	750	FURTHERANCE OF THE ARTS	750	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.
43 TIFFANY BLVD NEWARK,NJ07104	2014-02-25	600	FURTHERANCE OF THE ARTS	600	NONE	VARIOUS	2014-12-31	THE FULL AMOUNT OF THE GRANT WAS EXPENDED FOR THE PURPOSE REQUESTED IN THEIR GRANT APPLICATION AND THE FULL GRANT WAS EXPENDED APPROPRIATELY TO THE KNOWLEDGE OF THE FOUNDATION.

- TIN:

TY 2014 InvestmentsOtherSchedule2

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BERNSTEIN - NOMINEE	AT COST	0	0
UBS ACCOUNTS	AT COST	8,607,174	9,864,897

- TIN:

TY 2014 LandEtcSchedule2

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value
COMPUTER	3,376	3,376	0
COMPUTER	16,060	16,060	0
FURNITURE	13,626	11,801	1,825
COMPUTER	2,085	2,085	0
COMPUTER	1,252	1,179	73
OUTSIDE TABLES	3,500	2,406	1,094
CHAIRS	1,118	770	348
SCULPTURE	4,000	2,752	1,248
SPEAKERS	1,162	799	363
DATA PROCESSING EQUIPMENT	1,207	997	210
TEANECK LAND	380,000	0	380,000
TEANECK BUILDING	270,000	23,625	246,375
FURNITURE- PIANO	18,856	10,611	8,245
COMPUTER	2,115	1,506	609
TELPEHONES	4,826	3,436	1,390
CHAIRS	2,272	1,052	1,220
COPIER	448	233	215
SHELVING	920	552	368

- TIN:

TY 2014 OtherAssetsSchedule

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
DUE FROM PUFFIN NJ INC.	0	7,460,716	7,460,716

- TIN:

TY 2014 OtherDecreasesSchedule

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Description	Amount

- TIN:

TY 2014 OtherExpensesSchedule

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
BROKERAGE ADMINISTRATIVE CHARGES	107,088	107,088	0
ADVERTISING AND SHOWS	45,745	0	41,170
OTHER EXPENSES	34,069	0	27,255
OFFICE EXPENSES	98,867	0	79,094
REPAIR & MAINTENANCE	22,952	0	18,362
SCHOOL GROUPS	4,994	0	3,995
TECHNICIANS	4,290	0	3,432

- TIN:

TY 2014 OtherIncreasesSchedule

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Description	Amount

- TIN:

TY 2014 OtherProfessionalFeesSchedule

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
PROFESSIONAL FEES	30,778	0		0

- TIN:

TY 2014 SubstantialContributorsSch

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Name	Address
PERRY ROSENSTEIN	12 SINCLAIR COURT TEANECK,NJ07666

- TIN:

TY 2014 TaxesSchedule

Name:

PUFFIN FOUNDATION LTD

EIN: 13-3155489

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
PAYROLL TAXES	14,366	0	10,056
FOREIGN TAXES PAID	7,623	7,623	0
FEDERAL TAXES	8,605	0	0
STATE TAXES	780	0	0