Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
THE PIERRE & TANA MATISSE FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)1 EAST 53RD STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY100224200
A Employer identification number

13-3838457
B Telephone number (see instructions)

(212) 355-6269
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$233,420,082J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I 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 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 554 554  
4 Dividends and interest from securities... 1,868,550 1,868,550  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 8,832,778
b Gross sales price for all assets on line 6a 138,433,256
7 Capital gain net income (from Part IV, line 2)... 8,832,778
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)....... Click to see attachment 452,857 452,857  
12 Total. Add lines 1 through 11........ 11,154,739 11,154,739  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 390,000 19,500   370,500
14 Other employee salaries and wages...... 375,166 0   375,166
15 Pension plans, employee benefits....... 129,993 0   129,993
16a Legal fees (attach schedule)......... Click to see attachment 17,374 0   17,374
b Accounting fees (attach schedule)....... Click to see attachment 45,000 36,000   9,000
c Other professional fees (attach schedule).... Click to see attachment 699,877 554,723   145,154
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 186,361 36,476   51,885
19 Depreciation (attach schedule) and depletion... Click to see attachment 10,946 0  
20 Occupancy.............. 89,839 8,984   80,855
21 Travel, conferences, and meetings....... 33,600 0   33,600
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 280,630 82,227   198,403
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,258,786 737,910   1,411,930
25 Contributions, gifts, grants paid....... 3,215,096 3,215,096
26 Total expenses and disbursements. Add lines 24 and 25 5,473,882 737,910   4,627,026
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 5,680,857
b Net investment income (if negative, enter -0-) 10,416,829
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 197,558 140,559 140,559
2 Savings and temporary cash investments......... 2,203,274 1,189,693 1,189,693
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 67,256,932 Click to see attachment78,800,652 90,301,241
c Investments—corporate bonds (attach schedule)....... 4,916,665 Click to see attachment132,637 0
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 4,698,410 Click to see attachment7,688,286 7,241,084
14 Land, buildings, and equipment: basis bullet215,402
Less: accumulated depreciation (attach schedule) bullet83,553 142,795 Click to see attachment131,849 131,849
15 Other assets (describe bullet) Click to see attachment103,853,668 Click to see attachment100,976,068 Click to see attachment134,415,656
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 183,269,302 189,059,744 233,420,082
Liabilities 17 Accounts payable and accrued expenses..........    
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 bullet) Click to see attachment0 Click to see attachment9,585
23 Total liabilities (add lines 17 through 22)......... 0 9,585
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 183,269,302 189,050,159
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 183,269,302 189,050,159
31 Total liabilities and net assets/fund balances (see instructions). 183,269,302 189,059,744
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
183,269,302
2
Enter amount from Part I, line 27a .....................
2
5,680,857
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
100,000
4
Add lines 1, 2, and 3 ..........................
4
189,050,159
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
189,050,159
Form 990-PF (2015)
Form 990-PF (2015)
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 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a ARTWORK D    
b MEDLEY OPPORTUNITY FUND II K1 P    
c PIMCO TOTAL RETURN FD-LONG TERM P    
d ADVISORY RESEARCH-SHORT TERM P    
e ADVISORY RESEARCH-LONG TERM P    
SMH CAPITAL-SHORT TERM P    
SMH CAPITAL-LONG TERM P    
SNOW CAPITAL-SHORT TERM P    
SNOW CAPITAL-LONG TERM P    
WENTWORTH HAUSER-SHORT TERM P    
WENTWORTH HAUSER-LONG TERM P    
WESTFIELD-SHORT TERM P    
WESTFIELD-LONG TERM P    
WCM INVESTMENT-SHORT TERM P    
WCM INVESTMENT-LONG TERM P    
ALLIANCE GI CONV FD-SHORT TERM P    
ALLIANCE GI CONV FD-LONG TERM P    
FIDELITY FLOATING RATE-SHORT TERM P    
FIDELITY FLOATING RATE-LONG TERM P    
MSSB BUYWRITE-LONG TERM P    
PIMCO TOTAL RETURN FD-SHORT TERM P    
SCHWAB US AGGREGATE BONF FUND P    
5450 SHS NCR CORP NEW P    
MSSB BUYWRITE-SHORT TERM P    
309,810 SHS VANGUARD TOTAL WORLD P    
338,455 SHS ISHARES MSCI ACWI P    
CLASS ACTION SETTLEMENT P    
CAPITAL GAINS DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 7,853,718   2,557,600 5,296,118
b       -220,358
c 4,312,784   4,485,685 -172,901
d 4,367,001   4,507,381 -140,380
e 6,016,114   5,394,655 621,459
2,401,909   2,636,064 -234,155
1,874,476   3,096,913 -1,222,437
4,489,067   4,932,014 -442,947
9,500,996   9,549,483 -48,487
882,121   982,586 -100,465
4,567,609   3,986,609 581,000
16,094,540   16,477,437 -382,897
9,367,694   6,467,964 2,899,730
3,287,897   3,246,255 41,642
8,985,054   7,286,321 1,698,733
375,101   386,144 -11,043
4,304,370   4,403,351 -98,981
108,563   112,533 -3,970
3,066,127   3,232,500 -166,373
3,056,150   2,809,074 247,076
244,502   248,713 -4,211
3,506,390   3,537,230 -30,840
139,747   150,256 -10,509
1,826,554   1,913,652 -87,098
18,098,822   17,983,393 115,429
19,125,733   18,996,307 129,426
150     150
580,067     580,067
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       5,296,118
b       -220,358
c       -172,901
d       -140,380
e       621,459
      -234,155
      -1,222,437
      -442,947
      -48,487
      -100,465
      581,000
      -382,897
      2,899,730
      41,642
      1,698,733
      -11,043
      -98,981
      -3,970
      -166,373
      247,076
      -4,211
      -30,840
      -10,509
      -87,098
      115,429
      129,426
      150
      580,067
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 8,832,778
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 ................... 		Bracket 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?
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))
2014 3,910,177 82,424,699 0.047439
2013 3,977,006 71,321,859 0.055761
2012 3,090,567 60,948,728 0.050708
2011 2,441,907 60,269,031 0.040517
2010 2,507,944 59,617,745 0.042067
2
Total of line 1, column (d) .....................
20.236492
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
0.047298
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
88,614,917
5
Multiply line 4 by line 3......................
5
4,191,308
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
104,168
7
Add lines 5 and 6........................
7
4,295,476
8
Enter qualifying distributions from Part XII, line 4.............
8
4,627,026
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 (2015)
Form 990-PF (2015)
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 Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 104,168
hereBulletand 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........................... 3 104,168
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- ..... 5 104,168
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 69,333
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 170,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 239,333
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 135,165
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet135,165 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
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.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
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
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
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....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
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 instrument?................
    6
    Yes
     
    7
    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..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNY, DE
    b
    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 .
    8b
    Yes
     
    9
    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 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    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) .............
    11
     
    No
    12
    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).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletSANDRA CARNIELLI Telephone no.bullet (212) 355-6269

    Located atbullet1 EAST 53RD STREETNEW YORKNY ZIP+4bullet100224200
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, 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  
    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
    No
    1a
    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?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (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)?...............
    (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.).......
    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 in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    ........bullet
    c
    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 2015?.............
    1c
     
    No
    2
    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)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    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.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 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 2015.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    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 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    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))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    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)? ......
    5b
     
     
    .........bullet
    c
    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?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2015)
    Form 990-PF (2015)
    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
    ROBERT H HOROWITZ PRESIDENT/TREAS/DIR
    10.00     		130,000 0 0
    1 EAST 53RD STREET
    NEW YORK,NY100224200
    OLIVIER G BERNIER VP/SECY/DIRECTOR
    10.00     		130,000 0 0
    1 EAST 53RD STREET
    NEW YORK,NY100224200
    JANOS FARKAS VP/ASST SECY/DIRECTOR
    10.00     		130,000 0 0
    1 EAST 53RD STREET
    NEW YORK,NY100224200
    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
    SANDRA CARNIELLI EXECUTIVE DIRECTOR
    40.00     		217,833 24,000 0
    1 EAST 53RD STREET
    NEW YORK,NY10022
    LINDA AZARIAN ADMINISTRATIVE ASSIS
    40.00     		95,333 7,531 0
    1 EAST 53RD STREET
    NEW YORK,NY10022
    ERIKA S WILLIAMS ADMINISTRATIVE ASSIS
    21.00     		62,000 0 0
    1 EAST 53RD STREET
    NEW YORK,NY10022
    Total number of other employees paid over $50,000...................bullet 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
    WESTFIELD CAPITAL MANAGEMENT INVESTMENT MANAGEMENT 112,859
    ONE FINANCIAL CENTER 24TH FLOOR
    BOSTON,MA02111
    SNOW CAPITAL INVESTMENT MANAGEMENT 104,095
    2000 GEORGETOWN DR 200 SEWICKLEY PA
    15143
    SEWICKLEY,PA15143
    GAVION INVESTMENT MANAGEMENT 103,647
    6000 POPLAR AVENUE SUITE 325
    MEMPHIS,TN38119
    CHARLES STUCKEY CONSULTING-CATALOGUE RAISONNE 92,220
    1 EAST 53RD STREET
    NEW YORK,NY10022
    ADVISORY RESEARCH INVESTMENT MANAGEMENT 76,186
    180 NORTH STETSON AVENUE SUITE 5500
    CHICAGO,IL60601
    Total number of others receiving over $50,000 for professional services.............bullet0
    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 LENDING OF ARTWORK FOR DISPLAY AT VARIOUS EXHIBITIONS 220,069
    2 COMPILATION OF THE WORK OF ARTIST YVES TANGUY INTO A CATALOGUE RAISONNE 92,220
    3  
    4  
    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  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see 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...................
    1a
    82,517,413
    b
    Average of monthly cash balances.......................
    1b
    7,446,970
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    89,964,383
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    89,964,383
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,349,466
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    88,614,917
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    4,430,746
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    4,430,746
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    104,168
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    104,168
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    4,326,578
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    4,326,578
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    4,326,578
    Part XII
    Qualifying Distributions (see 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 ..........
    1a
    4,627,026
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    4,627,026
    5
    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).................
    5
    104,168
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    4,522,858
    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 (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 4,326,578
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012...... 113,303
    d From 2013...... 518,213
    e From 2014...... 81,097
    fTotal of lines 3a through e........ 712,613
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 4,627,026
    a Applied to 2014, 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 2015 distributable amount..... 4,326,578
    e Remaining amount distributed out of corpus 300,448
    5 Excess distributions carryover applied to 2015. 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 1,013,061
    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 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. 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 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		1,013,061
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012.... 113,303
    c Excess from 2013.... 518,213
    d Excess from 2014.... 81,097
    e Excess from 2015.... 300,448
    Form 990-PF (2015)
    Form 990-PF (2015)
    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 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    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) 2015 (b) 2014 (c) 2013 (d) 2012
             
    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).)
    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
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    SANDRA CARNIELLI
    1 EAST 53RD STREET
    NEW YORK,NY10022
    (212) 355-6269
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER
    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 (2015)
    Form 990-PF (2015)
    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)
    aPaid during the year
    ALVIN AILEY DANCE FOUNDATION
    405 WEST 55TH STREET
    NEW YORK,NY10019     		NONE 501(C)(3) ARTS EDUCATION 15,000
    AMERICAN FEDERATION OF THE ARTS
    305 EAST 47TH STREET 10TH FL
    NEW YORK,NY10017     		NONE 501(C)(3) ARTS AGENCY 25,000
    BRONX MUSEUM OF THE ARTS
    1040 GRAND CONCOURSE
    BRONX,VA10456     		NONE 501(C)(3) ARTS EDUCATION 25,000
    BROOKLYN ACADEMY OF MUSIC
    30 LAFAYETTE AVENUE
    BROOKLYN,NY11217     		NONE 501(C)(3) ARTS EDUCATION 50,000
    BROOKLYN CENTER FOR PERFORMING ARTS
    PO BOX 100163
    BROOKLYN,NY11210     		NONE 501(C)(3) ARTS EDUCATION 25,000
    CORE OF CULTURE
    PO BOX 15019
    WASHINGTON,DC20003     		NONE 501(C)(3) ARTS ADVOCACY 15,000
    DANCING CLASSROOMS
    25 WEST 31ST STREET FOURTH FLOOR
    NEW YORK,NY10001     		NONE 501(C)(3) ARTS EDUCATION 25,000
    DREAM YARDS PROJECT
    1085 WASHINGTON AVENUE
    BRONX,NY10456     		NONE 501(C)(3) ARTS EDUCATION 28,000
    EPIC THEATRE ENSEMBLE
    55 WEST 39TH STREET 302
    NEW YORK,NY10018     		NONE 501(C)(3) ARTS EDUCATION 150,000
    GROUNDSWELL COMMUNITY MURAL PROJECT
    540 PRESIDENT ST 1A
    BROOKLYN,NY11215     		NONE 501(C)(3) ARTS EDUCATION 25,000
    GUILD HALL OF EAST HAMPTON
    158 MAIN ST
    EAST HAMPTON,NY11937     		NONE 501(C)(3) ARTS EDUCATION 7,500
    IRONDALE PRODUCTIONS INC
    85 SOUTH OXFORD STREET
    BROOKLYN,NY11217     		NONE 501(C)(3) ARTS EDUCATION 75,000
    KIPP NYC
    470 7TH AVENUE 10TH FLOOR
    NEW YORK,NY10018     		NONE 501(C)(3) ARTS EDUCATION 100,000
    LEHMAN COLLEGE ART GALLERY
    LEHMAN COLLEGE BEDFORD PARK BLVD
    WEST
    BRONX,NY10468     		NONE 501(C)(3) ARTS EDUCATION 15,000
    LEWA WILDLIFE
    495 MILLER AVENUE STE 301
    MILL VALLEY,CA94941     		NONE 501(C)(3) ARTS EDUCATION 7,500
    LITTLE ORCHESTRA SOCIETY
    330 WEST 42ND STREET 12TH FLOOR
    NEW YORK,NY10036     		NONE 501(C)(3) ARTS EDUCATION 55,000
    LINCOLN CENTER EDUCATION
    70 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		NONE 501(C)(3) ARTS EDUCATION 100,000
    MANHATTAN GRAPHICS CENTER
    250 W 40TH ST 5TH FLOOR
    NEW YORK,NY10018     		NONE 501(C)(3) ARTS EDUCATION 15,000
    MARK MORRIS DANCE GROUP
    3 LAFAYETTE AVENUE
    BROOKLYN,NY11217     		NONE 501(C)(3) ARTS EDUCATION 150,000
    METROPOLITAN OPERA
    LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		NONE 501(C)(3) ARTS AGENCY 15,000
    MSHS 223 THE LAB SCHOOL OF FINANCE
    C/O ARETE EDUCATION INC 557 GRAND
    CONCOURSE STE 3140
    NEW YORK,NY10451     		NONE 501(C)(3) ARTS EDUCATION 180,360
    MS 57 RON BROWN ACADEMY
    C/O NYC DEPT OF EDUCATION 125
    STUYVESANT AVE
    NEW YORK,NY11221     		NONE 501(C)(3) ARTS EDUCATION 100,000
    MS 343 ACADEMY OF APPLIED MATH & TECHNOLOGY
    C/O NYC DEPT OF EDUCATION 345 BROOK
    AVENUE
    NEW YORK,NY10454     		NONE 501(C)(3) ARTS EDUCATION 100,000
    MS 378 SCHOOL FOR GLOBAL LEADERSHIP
    C/O NYC DEPT OF EDUCATION 145
    STANTON STREET
    NEW YORK,NY10002     		NONE 501(C)(3) ARTS EDUCATION 100,000
    MS 452 FREDERICK DOUGLASS ACADEMY VIII
    C/O NYC DEPT OF EDUCATION 1400
    PENNSYLVANIA 4TH FL
    BROOKLYN,NY11239     		NONE 501(C)(3) ARTS EDUCATION 100,000
    HS 650 HS OF CONSTRUCTION TRADES ENGINEERING & ARCHITECTURE
    C/O NYC DEPT OF EDUCATION 94-06
    104TH ST
    OZONE PARK,NY11416     		NONE 501(C)(3) ARTS EDUCATION 100,000
    MORGAN LIBRARY & MUSEUM
    225 MADISON AVENUE
    NEW YORK,NY10016     		NONE 501(C)(3) EXHIBITION SUPPORT 50,000
    MUSICA SACRA
    PO BOX 974 LENOX HILL STATION
    NEW YORK,NY10021     		NONE 501(C)(3) ARTS EDUCATION 25,616
    MT HOLYOKE COLLEGE ART MUSEUM
    LOWER LAKE ROAD
    SOUTH HADLEY,MA01075     		NONE 501(C)(3) SCHOLARSHIP PROGRAM 56,500
    NEW VICTORY THEATER
    C/O THE NEW 42ND ST 229 WEST 42ND
    STREET
    NEW YORK,NY10036     		NONE 501(C)(3) ARTS EDUCATION 150,000
    NEW YORK THEATRE WORKSHOP
    79 E 4TH ST
    NEW YORK,NY10003     		NONE 501(C)(3) ARTS EDUCATION 25,000
    NYU INSTITUTE OF FINE ARTS
    1 EAST 78TH STREET
    NEW YORK,NY10075     		NONE 501(C)(3) EDUCATION 36,000
    QUEENS MUSEUM
    NYC BUILDING FLUSHING MEADOWS
    CORONA PARK
    FLUSHING,NY11368     		NONE 501(C)(3) EMERGENCY OPERATING FUNDS 150,000
    READ ALLIANCE
    80 MAIDEN LANE 11TH FLOOR
    NEW YORK,NY10038     		NONE 501(C)(3) GENERAL PROGRAM SUPPORT 10,000
    CULTURE
    515 MALCOLM X BOULEVARD
    NEW YORK,NY10037     		NONE 501(C)(3) ARTS EDUCATION 150,000
    SCHOOL OF AMERICAN BALLET
    70 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		NONE 501(C)(3) ARTS EDUCATION 25,000
    SKOWHEGAN SCHOOL OF PAINTING AND SCULPTURE
    200 PARK AVENUE SOUTH SUITE 1116
    NEW YORK,NY10003     		NONE 501(C)(3) ARTS EDUCATION 7,500
    SOCRATES SCULPTURE PARK
    PO BOX 6259 32-01 VERNON BLVD
    LONG ISLAND CITY,NY11106     		NONE 501(C)(3) ARTS EDUCATION 25,000
    SOK SABAY ASSOCIATION
    STREET 468 NUMBER 75 TUOL TOMPONG 2
    CHANCARMON
    PHNOM PENH    
    CB     		NONE FOREIGN IRC SEC 501( EDUCATION 32,100
    STUDIO IN A SCHOOL
    410 WEST 59TH STREET
    NEW YORK,NY10019     		NONE 501(C)(3) ARTS EDUCATION 30,000
    STORM KING ARTS CENTER
    1 MUSEUM ROAD
    NEW WINDSOR,NY12553     		NONE 501(C)(3) ARTS EDUCATION 25,000
    THIRD STREET MUSIC SCHOOL SETTLEMENT
    235 EAST 11TH STREET
    NEW YORK,NY10003     		NONE 501(C)(3) ARTS EDUCATION 20,000
    WHITNEY MUSEUM OF AMERICAN ART
    945 MADISON AVENUE
    NEW YORK,NY10021     		NONE 501(C)(3) ARTS EDUCATION 150,000
    UPBEAT NYC
    468 EAST 138TH STREET 3
    BRONX,NY10454     		NONE 501(C)(3) ARTS EDUCATION 20,000
    WORLDS MONUMENT FUND
    350 FIFTH AVENUE
    NEW YORK,NY10118     		NONE 501(C)(3) ARTS EDUCATION 25,000
    AMERICAN JEWISH WORLD SERVICES
    45 WEST 36TH STREET 11TH FL
    NEW YORK,NY10018     		NONE 501(C)(3) SOCIAL AGENCY 5,000
    ANIMAL RESCUE FUND
    PO BOX 901
    WAINSCOTT,NY11975     		NONE 501(C)(3) ANIMAL AGENCY 1,000
    CENTER FOR BRIDGE EDUCATION
    274 GREENVIEW DRIVE
    DALY CITY,CA94014     		NONE 501(C)(3) EDUCATION 3,000
    HERE ARTS CENTER
    145 AVENUE OF THE AMERICAS
    NEW YORK,DC10013     		NONE 501(C)(3) ARTS AGENCY 6,000
    MORE ART
    71 NASSAU STREET 13A
    NEW YORK,NY10038     		NONE 501(C)(3) ARTS EDUCATION 1,000
    NARAGATSI ART INSTITUTE
    382 FREEMANS LANE
    FRANKLIN LAKES,NY07417     		NONE 501(C)(3) ARTS EDUCATION 1,000
    THE NEW YORK MUSIC ENSEMBLE
    34-29 80TH STREET 41
    JACKSON HEIGHTS,PA11372     		NONE 501(C)(3) ARTS AGENCY 8,000
    PLANNED PARENTHOOD USA
    434 WEST 33RD STREET
    NEW YORK,NY10001     		NONE 501(C)(3) SOCIAL AGENCY 3,000
    SUSTAINABILITY LABORATORY
    229 EAST 85TH STREET
    NEW YORK,NY10028     		NONE 501(C)(3) RESEARCH & EDUCATION 5,000
    CLINI CLOWNS
    PO BOX 1565
    AMSTERDAM    
    NL     		NONE FOREIGN IRC SEC 501( SOCIAL AGENCY 3,000
    FREUNDE DER ALBERTINA
    ALBERTINAPLATZ 1 1010
    VIENNA    
    AU     		NONE FOREIGN IRC SEC 501( ART MUSEUM 1,000
    FREUNDE DES BELVEDERE
    PRINZ- EUGEN-STRASE 27 1030
    VIENNA    
    AU     		NONE FOREIGN IRC SEC 501( ART MUSEUM 1,000
    FREUNDE DES MUMOK
    MUSEUMSPLATZ 1 1070
    VIENNA    
    AU     		NONE FOREIGN IRC SEC 501( ART MUSEUM 1,000
    FREUND DES NHM
    BURGRING 7 1010
    VIENNA    
    AU     		NONE FOREIGN IRC SEC 501( NATURAL HISTORY MUSEUM 1,000
    FREUNDESVEREIN LEOPOLD MUSEUM
    MUSEUMSPLATZ 1 1070
    VIENNA    
    AU     		NONE FOREIGN IRC SEC 501( ART MUSEUM 1,000
    GESELLSCHAFT DER FREUNDE DER KUNST
    STONDEHAUSSTRASE 1
    DUSSELDORF    
    GM     		NONE FOREIGN IRC SEC 501( MULTI-ARTS SOCIETY 1,000
    LIVE MUSIC NOW
    ETTINGSHAUSENGASSE 11
    GRAZ    
    AU     		NONE FOREIGN IRC SEC 501( MUSIC ORG 1,000
    MAK ART SOCIETY
    GENEWARTSKUNST STUBENRING 5 1010
    VIENNA    
    AU     		NONE FOREIGN IRC SEC 501( ARTS ORG 1,000
    SOZIALPROJEKT P GEORG SPORSCHILL
    RAIKA ZISTERSDORF-DURNKRUT 2225
    ZISTERSDORF STR 39
    VIENNA    
    AU     		NONE FOREIGN IRC SEC 501( SOCIAL AGENCY 3,000
    VEREIN DER FREUNDE DES KUNSTHISTORISCHEN
    HANUSCHGASSE 3 1ST FLOOR 1010
    VIENNA    
    AU     		NONE FOREIGN IRC SEC 501( ARTS MUSEUM 1,000
    VINZIRAST
    WILHELMSTRASSE 10 1120
    VIENNA    
    AU     		NONE FOREIGN IRC SEC 501( SOCIAL AGENCY 1,000
    YALE LAW SCHOOL FUND
    PO BOX 208341
    NEW HAVEN,CT06520     		NONE 501(C)(3) EDUCATIONAL 2,500
    THE BALTIMORE MUSEUM
    10 ART MUSEUM DR
    BALTIMORE,MD21218     		NONE 501(C)(3) ARTS EDUCATION 10,000
    NATIONAL GALLERY OF ART
    6TH CONSTITUTION AVE NW
    WASHINGTON,DC20565     		NONE 501(C)(3) ARTS EDUCATION 1,000
    PHILADELPHIA MUSEUM OF ART
    2600 BENJAMIN FRANKLIN PKWY
    PHILADELPHIA,PA19130     		NONE 501(C)(3) ARTS EDUCATION 1,000
    WHITNEY MUSEUM OF AMERICAN ART
    945 MADISON AVENUE
    NEW YORK,NY10021     		NONE 501(C)(3) ARTS EDUCATION 1,000
    CATALOGUE RAISONNE SCHOLARS ASSOCIATION
    294 E 7TH STREET
    BROOKLYN,NY11218     		NONE 501(C)(3) ARTS EDUCATION 20
    THE MUSEUM OF MODERN ART
    11 W 53RD ST
    NEW YORK,NY10019     		NONE 501(C)(3) ARTS EDUCATION 5,000
    MUSEUM OF THE CITY OF NEW YORK
    1220 5TH AVE
    NEW YORK,NY10029     		NONE 501(C)(3) ARTS EDUCATION 5,000
    GRANTMAKERS IN THE
    4055 21ST AVE W STE 100
    SEATTLE,WA98199     		NONE 501(C)(3) ARTS EDUCATION 2,000
    SOLOMON R GUGGENHEIM FOUNDATION
    1071 FIFTH AVENUE
    NEW YORK,NY10128     		NONE 501(C)(3) ARTS EDUCATION 1,000
    COOPER-HEWITT NATIONAL DESIGN MUSEUM
    2 E 91ST ST
    NEW YORK,NY10128     		NONE 501(C)(3) ARTS EDUCATION 1,500
    CENTER FOR CURATORIAL LEADERSHIP
    174 EAST 80TH STREET
    NEW YORK,NY10075     		NONE 501(C)(3) ARTS SCHOLARSHIP 100,000
    METROPOLITAN MUSEUM OF ART
    1000 FIFTH AVENUE
    NEW YORK,NY10028     		NONE 501(C)(3) ARTS EDUCATION 360,000
    HENRY STREET SETTLEMENT
    265 HENRY ST
    NEW YORK,NY10002     		NONE 501(C)(3) ARTS EDUCATION 60,000
    Total .................................bullet 3a 3,215,096
    bApproved for future payment
    BRONX MUSEUM OF THE ARTS
    1040 GRAND CONCOURSE
    BRONX,NY10456     		NONE 501(C)(3) ARTS EDUCATION 50,000
    BROOKLYN ACADEMY OF MUSIC
    30 LAFAYETTE AVENUE
    BROOKLYN,NY11217     		NONE 501(C)(3) ARTS EDUCATION 50,000
    BROOKLYN CENTER FOR PERFORMING ARTS
    PO BOX 100163
    BROOKLYN,NY11210     		NONE 501(C)(3) ARTS EDUCATION 25,000
    BROOKLYN COUNCIL OF THE ARTS
    20 JAY STREET 616
    BROOKLYN,NY11201     		NONE 501(C)(3) ARTS EDUCATION 50,000
    CENTER FOR CURATORIAL LEADERSHIP
    174 EAST 80TH STREET
    NEW YORK,NY10075     		NONE 501(C)(3) ARTS SCHOLARSHIP 100,000
    COOL CULTURE
    80 HANSON PLACE STE 604
    BROOKLYN,NY11217     		NONE 501(C)(3) ARTS EDUCATION 100,000
    FRACTURED ATLAS
    248 WEST 35TH ST 10TH FL
    NEW YORK,NY10001     		NONE 501(C)(3) ARTS EDUCATION 10,000
    GROUNDSWELL COMMUNITY MURAL PROJECT
    540 PRESIDENT ST 1A
    BROOKLYN,NY11215     		NONE 501(C)(3) ARTS EDUCATION 25,000
    IRONDALE PRODUCTIONS INC
    85 SOUTH OXFORD STREET
    BROOKLYN,NY11217     		NONE 501(C)(3) ARTS EUCATION 75,000
    LINCOLN CENTER EDUCATION
    70 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		NONE 501(C)(3) ARTS EDUCATION 400,000
    MARK MORRIS DANCE GROUP
    3 LAFAYETTE AVENUE
    BROOKLYN,NY11217     		NONE 501(C)(3) ARTS EDUCATION 600,000
    MS 57 RON BROWN ACADEMY
    C/O NYC DEPT OF EDUCATION 125
    STUYVESANT AVE
    BROOKLYN,NY11221     		NONE 501(C)(3) ARTS EDUCATION 100,000
    MS 343 ACADEMY OF APPLIED MATH & TECHNOLOGY
    C/O NYC DEPT OF EDUCATION 345 BROOK
    AVENUE
    BRONX,NY10454     		NONE 501(C)(3) ARTS EDUCATION 100,000
    MS 378 SCHOOL FOR GLOBAL LEADERSHIP
    C/O NYC DEPT OF EDUCATION 145
    STANTON STREET
    NEW YORK,NY10002     		NONE 501(C)(3) ARTS EDUCATION 100,000
    MS 452 FREDERICK DOUGLASS ACADEMY VIII
    C/O NYC DEPT OF EDUCATION 1400
    PENNSYLVANIA 4TH FL
    BROOKLYN,NY11239     		NONE 501(C)(3) ARTS EDUCATION 100,000
    HS 650 HS OF CONSTRUCTION TRADES ENGINEERING & ARCHITECTURE
    C/O NYC DEPT OF EDUCATION 94-06
    104TH ST
    OZONE PARK,NY11416     		NONE 501(C)(3) ARTS EDUCATION 100,000
    MORGAN LIBRARY & MUSEUM
    225 MADISON AVENUE
    NEW YORK,NY10016     		NONE 501(C)(3) ARCHIVAL SUPPORT 20,000
    THE NEW VICTORY THEATER
    C/O THE NEW 42ND ST 229 WEST 42ND
    STREET
    NEW YORK,NY10036     		NONE 501(C)(3) ARTS EDUCATION 300,000
    NYU INSTITUTE OF FINE ARTS
    1 EAST 78TH STREET
    NEW YORK,NY10075     		NONE 501(C)(3) ARTS EDUCATION 108,000
    PROJECTART
    601 WEST 26TH ST STE 325-248
    NEW YORK,NY10001     		NONE 501(C)(3) ARTS EDUCATION 54,000
    QUEENS MUSEUM
    NYC BUILDING FLUSHING MEADOWS
    CORONA PARK
    FLUSHING,NY11368     		NONE 501(C)(3) ARTS EDUCATION 450,000
    CULTURE
    515 MALCOLM X BOULEVARD
    NEW YORK,NY10003     		NONE 501(C)(3) ARTS EDUCATION 600,000
    SOCRATES SCULPTURE PARK
    PO BOX 6259 32-01 VERNON BLVD
    LONG ISLAND CITY,NY11106     		NONE 501(C)(3) ARTS EDUCATION 25,000
    STELLA ADLER STUDIO OF ACTING
    31 WEST 27TH STREET
    NEW YORK,NY10001     		NONE 501(C)(3) ARTS EDUCATION 50,000
    STORM KING ARTS CENTER
    1 MUSEUM ROAD
    NEW WINDSOR,NY12553     		NONE 501(C)(3) ARTS EDUCATION 5,000
    WHITNEY MUSEUM OF AMERICAN ART
    945 MADISON AVENUE
    NEW YORK,NY10021     		NONE 501(C)(3) ARTS EDUCATION 450,000
    YALE LAW SCHOOL FUND
    PO BOX 208341
    NEW HAVEN,CT06520     		NONE 501(C)(3) EDUCATIONAL 7,500
    Total .................................bullet 3b 4,054,500
    Form 990-PF (2015)
    Form 990-PF (2015)
    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
    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 ...........     		    14 554  
    4 Dividends and interest from securities....     14 1,868,550  
    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.....     14 452,857  
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 8,832,778  
    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 11,154,739 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    1311,154,739
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		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 (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information 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 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    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 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
    2a
    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?...........
    b
    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.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2015)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COOPERSMITH, SIMON & VOGEL 45,000 36,000   9,000

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

    TY 2015 DepreciationSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    COMPUTER EQUIPMENT 2003-06-30 8,180 8,180 SL 5.000000000000 0 0    
    LEASEHOLD IMPROVEMENTS 2008-06-30 38,005 6,331 SL 39.000000000000 974 0    
    LEASEHOLD IMPROVEMENTS 2009-06-30 104,678 14,762 SL 39.000000000000 2,684 0    
    FURNITURE AND FIXTURES 2009-06-30 40,710 31,988 SL 7.000000000000 5,816 0    
    TELEPHONE EQUIPMENT 2009-06-30 3,871 3,042 SL 7.000000000000 553 0    
    WEBSITE 2009-06-30 2,500 2,500 SL 3.000000000000 0 0    
    FURNITURE AND FIXTURES 2006-06-30 4,238 4,238 SL 7.000000000000 0 0    
    FURNITURE AND FIXTURES 2012-06-30 3,123 1,115 SL 7.000000000000 446 0    
    FURNITURE AND FIXTURES 2014-02-15 1,824 239 SL 7.000000000000 261 0    
    LEASEHOLD IMPROVEMENTS 2014-01-15 8,273 212 SL 39.000000000000 212 0    

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Name of Bond End of Year Book Value End of Year Fair Market Value
    SMH CAPITAL 132,637 0

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Name of Stock End of Year Book Value End of Year Fair Market Value
    IRONWOOD INTERNATIONAL LTD AB 5,924,869 7,685,149
    TITAN MASTERS INTERNATIONAL FD LTD 6,067,448 8,675,332
    ADVISORY RESEARCH 0 0
    SNOW CAPITAL 0 0
    WENTWORTH HAUSER 0 0
    WESTFIELD CAPITAL MANAGEMENT 0 0
    FIDELITY FLOATING RATE HIGH INC FUND 0 0
    WCM INVESTMENT MANAGEMENT 0 0
    ALLIANZE GI CONVERTIBLE 0 0
    MORGAN STANLEY-BUY WRITE 0 0
    PIMCO 0 0
    GMO QUALITY FUND 4,351,231 4,001,312
    JP MORGAN ALERIAN MLP INDEX 898,395 1,054,653
    MATTHEWS PACIFIC TIGER FUND 3,306,918 3,006,151
    VAN ECK GLOBAL HARD ASSETS FD 904,225 8,620,405
    WISDOM TREE JAPAN HEDGED EQUITY FD 1,047,566 958,239
    LANSDOWNE DEV MARKETS SIF 3,000,000 3,000,000
    TYBOURNE LONG OPPORTUNITIES 2,000,000 2,000,000
    THE MASTER PORTFOLIO (C) 34,000,000 34,000,000
    PARTNERS CAPITAL PHOENIX FD II LTD 7,800,000 7,800,000
    PARTNERS CAPITAL GREYHAWK FUND LP 9,500,000 9,500,000

    TY 2015 InvestmentsOtherSchedule2
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MEDLEY OPPORTUNITY FUND II LP AT COST 4,688,286 4,241,084
    MAVERICK LONG LP AT COST 3,000,000 3,000,000

    TY 2015 LandEtcSchedule2
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    COMPUTER EQUIPMENT 8,180 8,180 0  
    LEASEHOLD IMPROVEMENTS 38,005 7,305 30,700  
    LEASEHOLD IMPROVEMENTS 104,678 17,446 87,232  
    FURNITURE AND FIXTURES 40,710 37,804 2,906  
    TELEPHONE EQUIPMENT 3,871 3,595 276  
    WEBSITE 2,500 2,500 0  
    FURNITURE AND FIXTURES 4,238 4,238 0  
    FURNITURE AND FIXTURES 3,123 1,561 1,562  
    FURNITURE AND FIXTURES 1,824 500 1,324  
    LEASEHOLD IMPROVEMENTS 8,273 424 7,849  


    TY 2015 LegalFeesSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CARTER LEDYARD & MILBURN 5,330 0   5,330
    LORENZO VALENTINO 12,044 0   12,044


    TY 2015 OtherAssetsSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    BOOKS,MAQUETTES AND ARTWORK 103,853,668 100,976,068 134,415,656


    TY 2015 OtherExpensesSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMPUTER EXPENSES 8,868 0   8,868
    PAYROLL EXPENSE 2,486 63   2,423
    DUES AND SUBSCRIPTIONS 828 0   828
    INSURANCE 24,775 0   24,775
    TELEPHONE AND INTERNET 7,574 0   7,574
    OFFICE 11,064 0   11,064
    POSTAGE & DELIVERY 1,281 0   1,281
    DELAWARE AGENTS FEE 416 0   416
    ARTWORK HANDLING 11,055 0   11,055
    ARTWORK STORAGE 65,095 0   65,095
    ARTWORK INSURANCE 54,080 0   54,080
    PENSION SERVICES 2,175 0   2,175
    BANK CHARGES AND TRANSACTION FEES 10,926 10,175   751
    CATALOGUE RAISONNE 8,018 0   8,018
    FINANCE CHARGE ON INSETTLED TRADES 71,989 71,989   0


    TY 2015 OtherIncomeSchedule2
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INVESTMENT INCOME-PASSTHROUGH ENTITIES 452,857 452,857 452,857


    TY 2015 OtherIncreasesSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Description Amount
    UNREALIZED APPRECIATION ON DONATION 100,000


    TY 2015 OtherLiabilitiesSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Description Beginning of Year - Book Value End of Year - Book Value
    PROFIT SHARING PAYABLE 0 9,585


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SMH CAPITAL 13,494 13,494   0
    ADVISORY RESEARCH 76,186 76,186   0
    SNOW CAPITAL 104,095 104,095   0
    GAVION 103,647 103,647   0
    WCM INVESTMENT MANAGEMENT 57,974 57,974   0
    CHARLES STUCKEY 92,220 0   92,220
    WENTWORTH HAUSER 29,375 29,375   0
    WESTFIELD CAPITAL 112,859 112,859   0
    CAROL FEINBERG 23,750 0   23,750
    STEPHEN MACK 11,525 0   11,525
    OTHER 17,659 0   17,659
    MORGAN STANLEY 57,093 57,093   0


    TY 2015 TaxesSchedule
    Name:
    THE PIERRE & TANA MATISSE FOUNDATION INC
    EIN:
    13-3838457
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX WITHELD 35,696 35,696   0
    PAYROLL TAXES 52,665 780   51,885
    EXCISE TAX 98,000 0   0