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.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
ARLENE AND MICHAEL ROSEN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 377
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
TIBURON, CA94920
A Employer identification number

47-3040686
B Telephone number (see instructions)

(866) 888-5157
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... 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$15,367,214J 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) 2,000,221
2 Check bullet.............
3 Interest on savings and temporary cash investments 33 80,357  
4 Dividends and interest from securities... 423,382 333,927  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 447,716
b Gross sales price for all assets on line 6a 10,115,261
7 Capital gain net income (from Part IV, line 2)... 447,716
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........ 2,871,352 862,000  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 174,714 0   174,714
14 Other employee salaries and wages...... 53,750 0   53,750
15 Pension plans, employee benefits....... 10,700 0   10,700
16a Legal fees (attach schedule)......... Click to see attachment 141,260 0   141,260
b Accounting fees (attach schedule)....... Click to see attachment 20,092 10,046   10,046
c Other professional fees (attach schedule).... Click to see attachment 184,404 105,552   78,852
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 30,803 6,579   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 9,084 0   9,084
22 Printing and publications.......... 245 0   245
23 Other expenses (attach schedule)....... Click to see attachment 15,978 0   15,978
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 641,030 122,177   494,629
25 Contributions, gifts, grants paid....... 490,000 490,000
26 Total expenses and disbursements. Add lines 24 and 25 1,131,030 122,177   984,629
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,740,322
b Net investment income (if negative, enter -0-) 739,823
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
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.............      
2 Savings and temporary cash investments......... 905,493 341,191 341,191
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)....... 8,793,588 Click to see attachment8,838,378 8,838,378
c Investments—corporate bonds (attach schedule)....... 5,477,375 Click to see attachment6,122,709 6,122,709
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 45,087 Click to see attachment64,936 64,936
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 15,221,543 15,367,214 15,367,214
Liabilities 17 Accounts payable and accrued expenses.......... 1,067 708
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)    
23 Total liabilities (add lines 17 through 22)......... 1,067 708
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 15,220,476 15,366,506
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here 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)..... 15,220,476 15,366,506
31 Total liabilities and net assets/fund balances (see instructions). 15,221,543 15,367,214
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
15,220,476
2
Enter amount from Part I, line 27a .....................
2
1,740,322
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
16,960,798
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
1,594,292
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
15,366,506
Form 990-PF (2018)
Form 990-PF (2018)
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 PUBLICLY TRADED SECURITIES      
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(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 10,095,668   9,667,545 428,123
b 19,593     19,593
c
d
e
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       428,123
b       19,593
c
d
e
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 2 447,716
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))
2017 779,824 9,538,524 0.081755
2016 441,662 5,419,925 0.081489
2015 21,209 1,709,483 0.012407
2014 236,598 5,422,420 0.043633
2013 268,005 4,879,762 0.054922
2
Total of line 1, column (d) .....................
2
0.274206
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.054841
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
16,563,779
5
Multiply line 4 by line 3......................
5
908,374
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
7,398
7
Add lines 5 and 6........................
7
915,772
8
Enter qualifying distributions from Part XII, line 4,.............
8
984,629
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 (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
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 7,398
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 7,398
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 7,398
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 24,532
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 24,532
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
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 17,134
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet17,134 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 changesClick to see attachment....
3
Yes
 
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)
    bulletCA
    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 2018 or the taxable year beginning in 2018? See the 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 (2018)
    Form 990-PF (2018)
    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 instructionsClick to see attachment.................
    12
    Yes
     
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletAMROSENFOUNDATION.ORG
    14
    The books are in care ofbulletJASON SATTERFIELD Telephone no.bullet (866) 888-5157

    Located atbulletPO BOX 377TIBURONCA ZIP+4bullet94920
    15
    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
    15
     
    16 At any time during calendar year 2018, 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 the instructions for exceptions and filing requirements for FinCEN Form 114. 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 2018?.............
    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 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    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 2018 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 2018.)..................
    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 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    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:
    Yes
    No
    (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
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    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
    TOBI TRAVIS TRUSTEE
    1.00     		0 0 0
    PO BOX 377
    TIBURON,CA94920
    SEAN HALEEN TRUSTEE
    1.00     		0 0 0
    PO BOX 377
    TIBURON,CA94920
    CARMEN SUAREZ FORMER EXECUTIVE DIRECTOR
    35.00     		111,667 5,732 0
    PO BOX 377
    TIBURON,CA94920
    JASON SATTERFIELD EXECUTIVE DIRECTOR
    40.00     		54,570 2,745 0
    PO BOX 377
    TIBURON,CA94920
    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...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    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
    JP MORGAN INVESTMENT MANAGMENT FEES 100,450
    2029 CENTURY PARK EAST 39TH FLOOR
    LOS ANGELES,CA90067
    STEPHEN JACKSON CONSULTING 75,000
    639 DIAMOND STREET
    SAN FRANCISCO,CA94114
    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  
    2  
    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 (2018)
    Form 990-PF (2018)
    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
    16,361,454
    b
    Average of monthly cash balances.......................
    1b
    454,565
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    16,816,019
    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
    16,816,019
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    252,240
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    16,563,779
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    828,189
    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.)
    1
    Minimum investment return from Part X, line 6....................
    1
    828,189
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    7,398
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,398
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    820,791
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    820,791
    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
    820,791
    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
    984,629
    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
    984,629
    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
    7,398
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    977,231
    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 (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 820,791
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016...... 112,576
    e From 2017...... 357,292
    fTotal of lines 3a through e........ 469,868
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 984,629
    a Applied to 2017, 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 2018 distributable amount..... 820,791
    e Remaining amount distributed out of corpus 163,838
    5 Excess distributions carryover applied to 2018. 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 5 633,706
    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 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		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
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		633,706
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016.... 112,576
    d Excess from 2017.... 357,292
    e Excess from 2018.... 163,838
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 2018, 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) 2018 (b) 2017 (c) 2016 (d) 2015
             
    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 foundation 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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    CARON FOUNDATION
    PO BOX 150
    WERNERSVILLE,PA19565     		NONE PC SUPPORT FOR THE VETERANS HEALING THROUGH CONNECTION PROGRAM, WHICH PROVIDES ADDICTION TREATMENT SERVICES 60,000
    JP MORGAN CHARITABLE GIVING FUND
    11455 CHANDLER BLVD
    JENKINTOWN,PA19046     		NONE PC ADDICTION TREATMENT PURPOSE 430,000
    Total .................................bullet 3a 490,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 33  
    4 Dividends and interest from securities....     14 423,382  
    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 ............     		    18 447,716  
    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).. 0 871,131 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    871,131
    (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 (2018)
    Form 990-PF (2018)
    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) (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) (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 (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    ARLENE AND MICHAEL ROSEN FOUNDATION
     
    Employer identification number

    47-3040686
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    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
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't 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 doesn't 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) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    ARLENE AND MICHAEL ROSEN FOUNDATION
          		Employer identification number
    47-3040686
    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
    AGR TRUST CO STAN RUBIN TRUSTEE (LOEB & LOEB)
     
    10100 SANTA MONICA BLVD SUITE 2200
     
    LOS ANGELES, CA90067

    		$ 2,000,221


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    ARLENE AND MICHAEL ROSEN FOUNDATION
          		Employer identification number

    47-3040686
    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
    		 DONATED SECURITIES $ 2,000,221 2018-03-31
    (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) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    ARLENE AND MICHAEL ROSEN FOUNDATION
          		Employer identification number

    47-3040686
    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 (c) Use 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 (c) Use 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 (c) Use 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 (c) Use 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) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AccountingFeesSchedule
    Name:
    ARLENE AND MICHAEL ROSEN FOUNDATION
    EIN:
    47-3040686
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 20,092 10,046   10,046

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    ARLENE AND MICHAEL ROSEN FOUNDATION
    EIN:
    47-3040686
    Name of Bond End of Year Book Value End of Year Fair Market Value
    31,269 SIX CIRCLES ULTRA SHORT DURATION FUND 311,755 311,755
    1,367 ISHARES BARCLAYS TIPS BOND FUND 149,700 149,700
    23,069.75 DODGE & COX INCOME FD 305,905 305,905
    3,902 VANGUARD SHORT-TERM BOND ETF 306,580 306,580
    15,876.24 JPM UNCONSTRAINED DEBT - R6 150,189 150,189
    45,447.25 DOUBLELINE TOTL RET BND - I 473,560 473,560
    18,063.31 PIMCO FD PAC INV MGMT SERIES 149,564 149,564
    14,181.52 PIMCO INCOME FD-INS 167,484 167,484
    41,402.64 VANGUARD TOTAL INTL BND-ADM 898,023 898,023
    11,364.78 MFS EMERGING MKTS DEBT FD R6 155,470 155,470
    20,000 TOYOTA MOTOR CREDIT CORP MTN 20,001 20,001
    40,000 NOVARTIS SECS INVEST LTD 40,080 40,080
    10,000 CATERPILLAR FINACIAL SE 10,046 10,046
    25,000 CISCO SYSTEMS INC 24,965 24,965
    45,000 SANTANDER UK PLC 44,950 44,950
    25,000 BNP PARIBAS MTN 24,971 24,971
    40,000 US BANCORP SR NOTES MTN 39,912 39,912
    25,000 PRUDENTIAL FINANCIAL INC 25,453 25,453
    30,000 CATERPILLAR FINL SERVICE MTN 29,940 29,940
    40,000 TOYOTA MOTOR CREDIT CORP 39,518 39,518
    25,000 CHEVRON CORP 24,746 24,746
    15,000 FIFTH THIRD BANCORP 14,907 14,907
    45,000 BANK OF NY MELLON CORP MTN 44,696 44,696
    35,000 TORONTO-DOMINION BK 35,075 35,075
    20,000 NATIONAL RURAL UTIL COOP 19,710 19,710
    45,000 MEAD JOHNSON NUTRITION C 44,859 44,859
    10,000 VISA INC 9,889 9,889
    55,000 GENERAL ELEC CAP CORP 55,140 55,140
    10,000 OCCIDENTAL PETROLEUM COR 10,172 10,172
    45,000 CANADIAN IMPERIAL BANK 44,543 44,543
    10,000 NATIONAL RURAL UTIL COOP 9,954 9,954
    60,000 BANK OF NOVA SCOTIA 58,969 58,969
    30,000 PEPSICO INC 29,401 29,401
    15,000 WESTPAC BANKING CORP 14,591 14,591
    5,000 COVENTRY HEALTH CARE INC 5,177 5,177
    40,000 SUMITOMO MITSUI FINL GRP 38,737 38,737
    35,000 RABOBANK NEDERLAND UTREC 35,385 35,385
    75,000 APPLE INC 73,121 73,121
    40,000 MICROSOFT CORP 39,526 39,526
    15,000 WALT DISNEY COMPANY/THE 14,759 14,759
    30,000 MITSUBISHI UFJ FIN GRP 29,578 29,578
    45,000 PNC FUNDING CORP 44,898 44,898
    50,000 JOHN DEERE CAPITAL CORP 49,234 49,234
    35,000 MEDTRONIC INC 34,864 34,864
    10,000 MEDTRONIC INC 9,972 9,972
    70,000 HSBC HOLDINGS PLC 70,908 70,908
    15,000 TD AMERITRADE HOLDING CO 14,838 14,838
    15,000 LOWE'S COMPANIES INC 14,741 14,741
    10,000 BP CAPITAL MARKETS PLC 9,913 9,913
    10,000 ABB FINANCE USA INC 9,846 9,846
    30,000 PROGRESS ENERGY CAROLINA 29,593 29,593
    30,000 UNITEDHEALTH GROUP INC 30,136 30,136
    45,000 AMERICAN EXPRESS CO 43,431 43,431
    30,000 TRANS-CANADA PIPELINES 28,789 28,789
    15,000 ALTRIA GROUP INC 14,399 14,399
    15,000 PHILIP MORRIS INTL INC 14,415 14,415
    30,000 PHILIP MORRIS INTL INC 28,831 28,831
    10,000 AETNA INC 9,593 9,593
    21,000 BANK OF AMERICA CORP MTN 20,681 20,681
    25,000 STATOIL ASA 24,289 24,289
    25,000 SUMITOMO MITSUI FINL GRP 24,522 24,522
    14,000 BANK OF AMERICA CORP 13,764 13,764
    15,000 TOTAL CAPITAL INTL SA 14,652 14,652
    10,000 QUALCOMM INC 9,623 9,623
    85,000 WELLS FARGO & COMPANY 83,212 83,212
    5,000 BURLINGTN NORTH SANTA FE 4,964 4,964
    15,000 ALTRIA GROUP INC 14,268 14,268
    5,000 ABBVIE INC 4,818 4,818
    15,000 ALLSTATE CORP 14,980 14,980
    75,000 BANK OF AMERICA CORP 72,541 72,541
    45,000 METLIFE INC 46,326 46,326
    60,000 ORACLE CORP 57,574 57,574
    15,000 SCHLUMBERGER INVESTMENT 15,070 15,070
    15,000 INVESCO FINANCE PLC 14,975 14,975
    10,000 VIRGINIA ELEC & POWER CO 9,992 9,992
    115,000 GOLDMAN SACHS GROUP INC 113,470 113,470
    45,000 GILEAD SCIENCES INC 44,921 44,921
    10,000 TOTAL CAPITAL INTL SA 10,112 10,112
    55,000 BP CAP MARKETS AMER 53,844 53,844
    25,000 INTEL CORP 24,387 24,387
    15,000 STRYKER CORP 14,935 14,935
    85,000 CITIGROUP INC 84,397 84,397
    50,000 SIMON PROPERTY GROUP LP 48,916 48,916
    10,000 AMERIPRISE FINANCIAL INC 9,995 9,995
    45,000 BB&T CORPORATION MTN 43,231 43,231
    15,000 DOMINION GAS HLDGS LLC 14,899 14,899
    15,000 BERKSHIRE HATHAWAY ENERG 14,880 14,880
    20,000 MUFG AMERICAS HLDGS CORP 19,188 19,188
    20,000 COMCAST CORP 19,597 19,597
    29,000 ONCOR ELECTRIC DELIVERY 28,253 28,253
    40,000 SHELL INTERNATIONAL FIN 39,459 39,459
    30,000 AVALONBAY COMMUNITIES 29,517 29,517
    10,000 PRECISION CASTPARTS CORP 9,827 9,827
    110,000 MORGAN STANLEY 108,569 108,569
    45,000 STATE STREET CORP 44,908 44,908
    15,000 LOWE'S COS INC 14,241 14,241
    7,000 COMCAST CORP 7,086 7,086
    30,000 ANHEUSER-BUSCH INBEV FIN 28,332 28,332
    7,000 COMCAST CORP 6,701 6,701
    30,000 MANULIFE FINANCIAL CORP 30,314 30,314
    60,000 WESTPAC BNKG CORP 55,792 55,792
    30,000 BALTIMORE GAS & ELECTRIC 27,460 27,460
    15,000 AMERIPRISE FINANCIAL INC 13,975 13,975
    30,000 ERP OPERATING LP 28,213 28,213
    10,000 COMCAST CORP 8,950 8,950
    30,000 REALTY INCOME CORP 27,908 27,908
    30,000 GULF POWER CO 29,110 29,110
    30,000 ORIX CORP 28,965 28,965
    30,000 ENTERGY LOUISIANA LLC 28,647 28,647
    20,000 TEXAS INSTRUMENTS INC 18,971 18,971
    15,000 EDISON INTERNATIONAL 14,205 14,205
    20,000 IN MI PWR 20,125 20,125
    15,000 CONS EDISON CO O 15,382 15,382
    15,000 HOME DEPOT INC 15,374 15,374

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    ARLENE AND MICHAEL ROSEN FOUNDATION
    EIN:
    47-3040686
    Name of Stock End of Year Book Value End of Year Fair Market Value
    49,870.13 FIDELITY 500 INDEX FD-AI 4,343,688 4,343,688
    48,603.39 SIX CIRCLES U.S. UNCONSTRAINED 439,861 439,861
    30,927.111 FIDELITY INTERNATIONAL INDEX FUND 1,124,200 1,124,200
    6,840 JPMORGAN BETABUILDERS CANADA ETF 141,314 141,314
    26,495.98 SIX CIRCLES INTERNATIONAL 219,917 219,917
    12,915 JPMORGAN BETABUILDERS JAPAN - ETF 272,765 272,765
    163 ABBOTT LABORATORIES 11,790 11,790
    8 ALPHABET INC/CA-CL-A 8,360 8,360
    132 AMERICAN INTERNATIONAL GROUP 5,202 5,202
    18 APPLE INC 2,839 2,839
    104 AXALTA COATING SYSTEMS LTD 2,436 2,436
    41 BERKSHIRE HATHAWAY INC-CL-B 8,371 8,371
    129 BORGWARNER INC 4,481 4,481
    30 BRIGHTHOUSE FINL INC COM 914 914
    13 CHARTER COMMUNICATIONS INC-A 3,705 3,705
    65 CIMAREX ENERGY CO 4,007 4,007
    191 CITIGROUP INC 9,943 9,943
    127 COMCAST CORP-CLASS A 4,324 4,324
    93 CVS HEALTH CORP 6,093 6,093
    174 DEVON ENERGY CORP 3,922 3,922
    120 DISCOVER FINANCIAL SERVICES 7,078 7,078
    41 EASTMAN CHEMICAL CO 2,998 2,998
    34 FACEBOOK INC-A 4,457 4,457
    37 FIRST REPUBLIC BANK/CA 3,215 3,215
    107 GENERAL MOTORS CO 3,579 3,579
    43 GILEAD SCIENCES INC 2,690 2,690
    126 GOODYEAR TIRE & RUBBER CO 2,572 2,572
    152 HANESBRANDS INC 1,905 1,905
    85 HARTFORD FINANCIAL SVCS GRP 3,778 3,778
    31 HONEYWELL INTERNATIONAL INC 4,096 4,096
    61 JPMORGAN CHASE CO. 5,955 5,955
    37 KIMBERLY-CLARK CORP 4,216 4,216
    23 LINDE PLC 3,589 3,589
    99 LOEWS CORP 4,506 4,506
    44 MARSH & MCLENNAN COS 3,509 3,509
    70 MEDTRONIC PLC 6,367 6,367
    188 METLIFE INC 7,719 7,719
    60 MICROSOFT CORP 6,094 6,094
    101 MORGAN STANLEY 4,005 4,005
    56 NOBLE ENERGY INC 1,051 1,051
    2 NVR INC 4,874 4,874
    33 PARKER HANNIFIN CORP 4,922 4,922
    52 PEPSICO INC 5,745 5,745
    153 PFIZER INC 6,678 6,678
    86 PHILIP MORRIS INTERNATIONAL 5,741 5,741
    30 PNC FINANCIAL SERVICES GROUP 3,507 3,507
    65 PROCTER & GAMBLE CO/THE 5,975 5,975
    133 TEGNA INC 1,446 1,446
    42 TEXAS INSTRUMENTS INC 3,969 3,969
    20 THERMO FISHER SCIENTIFIC INC 4,476 4,476
    151 TJX COMPANIES INC 6,756 6,756
    45 UNITED CONTINENTAL HOLDINGS 3,768 3,768
    62 UNITED TECHNOLOGIES CORP 6,602 6,602
    16 VERISK ANALYTICS INC 1,745 1,745
    33 VF CORP 2,354 2,354
    34 WALT DISNEY CO/THE 3,728 3,728
    56 WORLDPAY INC CL A 4,280 4,280
    92 ALIBABA GROUP HOLDING-SP ADR 12,610 12,610
    7 ALPHABET INC/CA-CL-C 7,249 7,249
    7 ALPHABET INC/CA-CL A 7,315 7,315
    11 AMAZON.COM INC 16,522 16,522
    30 AMERICAN EXPRESS CO 2,860 2,860
    25 AMGEN INC 4,867 4,867
    79 AUTODESK INC 10,160 10,160
    18 AUTOMATIC DATA PROCESSING 2,360 2,360
    95 CERNER CORP 4,982 4,982
    172 CISCO SYSTEMS INC 7,453 7,453
    147 COCA-COLA CO/THE 6,960 6,960
    81 COLGATE-PALMOLIVE CO 4,821 4,821
    494 DANONE-SPONS ADR 6,906 6,906
    48 DEERE & CO 7,160 7,160
    111 EXPEDITORS INTL WASH INC 7,558 7,558
    95 FACEBOOK INC-A 12,454 12,454
    22 FACTSET RESEARCH SYSTEMS INC 4,403 4,403
    43 MERCK & CO. OMC 3,286 3,286
    84 MICROSOFT CORP 8,532 8,532
    165 MONSTER BEVERAGE CO 8,121 8,121
    56 NOVARTIS AG-SPONSORED ADR 4,805 4,805
    158 NOVO-NORDISK A/S-SPONS ADR 7,279 7,279
    271 ORACLE CORP 12,236 12,236
    82 PROCTER & GAMBLE CO/THE 7,537 7,537
    125 QUALCOMM INC 7,114 7,114
    23 REGENERON PHARMACEUTICALS 8,591 8,591
    113 SCHLUMBERGER LTD 4,077 4,077
    115 SEI INVESTMENTS COMPANY 5,313 5,313
    123 STARBUCKS CORP 7,921 7,921
    25 UNITED PARCEL SERVICE-CL B 2,438 2,438
    40 VARIAN MEDICAL SYSTEMS INC 4,532 4,532
    120 VISA INC-CLASS A SHARES 15,833 15,833
    90 YUM CHINA HOLDINGS INC 3,018 3,018
    54 YUM BRANDS INC 4,964 4,964
    796 ABB LTD-SPON ADR 15,132 15,132
    647 ALLIANZ SE-SPON ADR 13,031 13,031
    2,769 BANCO SANTANDER SA-SPON ADR 12,405 12,405
    427 BP PLC-SPONS ADR 16,192 16,192
    389 CHINA MOBILE LTD-SPON ADR 18,672 18,672
    1,860 CK HUTCHISON HOLDIN-UNSP ADR 17,633 17,633
    2,004 COMPAGNIE DE SAINT-UNSP ADR 13,206 13,206
    1,296 DAIMLER AG UNSPONSORED ADR 16,991 16,991
    688 DEUTSCHE TELEKOM AG-SPON ADR 11,682 11,682
    3,582 ENEL SPA - UNSPON ADR 20,811 20,811
    574 ENI SPA-SPONSORED ADR 18,081 18,081
    299 FUJIFILM HOLDINGS-UNSP ADR 11,649 11,649
    474 GLAXOSMITHKLINE PLC-SPON ADR 18,112 18,112
    728 HONDA MOTOR CO LTD-SPONS ADR 19,256 19,256
    671 IBERDROLA SA-SPONSORED ADR 21,529 21,529
    225 ISUZU MOTORS LTD-UNSPON ADR 3,098 3,098
    2,525 KINGFISHER PLC-SPONS ADR 13,180 13,180
    602 KONINKLIJKE AHOLD DELHAIZE N.V. 15,188 15,188
    6,580 LLOYDS BANKING GROUP PLC-ADR 16,845 16,845
    566 MITSUBISHI ELECTRIC-UNSP ADR 12,446 12,446
    191 NATIONAL GRID PLC SPON ADR EACH REP 9,164 9,164
    178 NOVARTIS AG-SPONSORED ADR 15,274 15,274
    223 NTT DOCOMO INC-SPON ADR 4,962 4,962
    2,747 PROCEEDS FROM PENDING SALES 2,746 2,746
    1,331 QBE INSURANCE GROUP-SPN ADR 9,344 9,344
    279 ROYAL DUTCH SHELL-SPON ADR-B 16,723 16,723
    419 SANOFI-ADR 18,189 18,189
    417 SINGAPORE TELECOMMUNICAT-ADR 8,966 8,966
    773 SSE PLC-SPN ADR 10,644 10,644
    486 TAIWAN SEMICONDUCTOR-SP ADR 17,938 17,938
    1,005 TAKEDA PHARMACEUTIC-SP ADR 16,904 16,904
    1,366 TELEFONICA SA-SPON ADR 11,556 11,556
    2,221 TELIASONERA AB-UNSPON ADR 20,911 20,911
    2,215 TESCO PLC-SPONSORED ADR 16,214 16,214
    401 TOKIO MARINE HOLDINGS-ADR 19,015 19,015
    477 UNITED OVERSEAS BANK-SP ADR 17,229 17,229
    575 WH GROUP LIMITED ADR 8,832 8,832
    227 WPP PLC-SPONSORED ADR 12,440 12,440
    504 ZURICH INSURANCE GROUP-ADR 15,022 15,022
    149 ACCENTURE PLC-CL A 21,010 21,010
    165 ADIDAS AG-SPONSORED ADR 17,216 17,216
    784 AIA GROUP LTD-SP ADR 25,778 25,778
    159 AMADEUS IT GROUP, S.A. 11,132 11,132
    65 ASML HOLDING NV-NY REG SHS 10,115 10,115
    535 ATLAS COPCO AB-SPONS ADR A 12,803 12,803
    122 CANADIAN PACIFIC RAILWAY LTD 21,670 21,670
    364 CHR HANSEN HOLDING -SPON ADR 16,149 16,149
    159 CHUBB LTD 20,540 20,540
    918 COMPASS GROUP PLC ADR 19,186 19,186
    128 CORE LABORATORIES N.V. 7,636 7,636
    400 CSL LTD-SPONSORED ADR 25,884 25,884
    562 DSV A S UNSPONSORED 18,518 18,518
    335 ESSILORLUXOTTICA-UNSPONSORED ADR 21,159 21,159
    1,045 EXPERIAN PLC-SPONS ADR 25,242 25,242
    298 GEBERIT AG - UNSP ADR 11,720 11,720
    202 HDFC BANK LTD-ADR 20,925 20,925
    409 HEXAGON AB 19,141 19,141
    123 ICON PLC 15,893 15,893
    399 INDITEX-UNSPON ADR 5,071 5,071
    330 LVMH MOET HENNESSY-UNSP ADR 19,292 19,292
    32 METTLER-TOLEDO INTERNATIONAL 18,099 18,099
    248 NESTLE SA-SPONS ADR 20,078 20,078
    110 NEW STERIS LTD 11,754 11,754
    539 PERNOD-RICARD SA-UNSPON ADR 17,647 17,647
    110 RESMED INC 12,526 12,526
    99 RYANAIR HLDGS PLC 7,063 7,063
    136 SHOPIFY INC - CLASS A 18,829 18,829
    562 TAIWAN SEMICONDUCTOR-SP ADR 20,743 20,743
    543 TENCENT HOLDINGS LTD-UNS ADR 21,432 21,432
    548 WALMART DE MEXICO-SPON ADR V 13,947 13,947
    386 ACTIVISION BLIZZARD INC 17,976 17,976
    234 AGILENT TECHNOLOGIES INC 15,786 15,786
    669 AIA GROUP LTD-SP ADR 21,997 21,997
    14 AMAZON.COM INC 21,028 21,028
    296 AMPHENOL CORP-CL A 23,982 23,982
    550 ATLAS COPCO AB-SPONS ADR A 13,162 13,162
    794 BOSTON SCIENTIFIC CORP 28,060 28,060
    292 CANADIAN NATL RAILWAY CO 21,640 21,640
    140 CHUBB LTD 18,085 18,085
    948 COMPASS GROUP PLC ADR 19,813 19,813
    113 COOPER COS INC/THE 28,759 28,759
    145 COSTCO WHOLESALE CORP 29,538 29,538
    198 CROWN CASTLE INTL CORP 21,509 21,509
    159 ECOLAB INC 23,429 23,429
    309 ESSILORLUXOTTICA-UNSPONSORED ADR 19,516 19,516
    284 FIRST REPUBLIC BANK/CA 24,680 24,680
    349 GRACO INC 14,606 14,606
    271 HDFC BANK LTD-ADR 28,073 28,073
    48 ILLUMINA INC 14,397 14,397
    72 MERCADOLIBRE INC 21,085 21,085
    41 METTLER-TOLEDO INTERNATIONAL 23,189 23,189
    243 NEW STERIS LTD 25,965 25,965
    895 PERNOD-RICARD SA-UNSPON ADR 29,302 29,302
    235 SCHLUMBERGER LTD 8,479 8,479
    402 SCHWAB (CHARLES) CORP 16,695 16,695
    38 SHERWIN-WILLIAMS CO/THE 14,951 14,951
    160 SHOPIFY INC - CLASS A 22,152 22,152
    125 STRYKER CORP 19,594 19,594
    1,233 SYMRISE AG-UNSPON ADR 22,841 22,841
    595 TAIWAN SEMICONDUCTOR-SP ADR 21,961 21,961
    619 TENCENT HOLDINGS LTD-UNS ADR 24,432 24,432
    215 VERISK ANALYTICS INC 23,444 23,444
    225 VISA INC-CLASS A SHARES 29,687 29,687
    233 WEST PHARMACEUTICAL SERVICES 22,841 22,841

    TY 2018 InvestmentsOtherSchedule2
    Name:
    ARLENE AND MICHAEL ROSEN FOUNDATION
    EIN:
    47-3040686
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    25,000 TORONTO-DOMINION BANK MTN FMV 25,001 25,001
    5,000 TORONTO-DOMINION BANK FMV 5,001 5,001
    20,000 ROYAL BANK OF CANADA FMV 19,963 19,963
    15,000 BANK OF MONTREAL MTN FMV 14,971 14,971

    TY 2018 LegalFeesSchedule
    Name:
    ARLENE AND MICHAEL ROSEN FOUNDATION
    EIN:
    47-3040686
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 141,260 0   141,260


    TY 2018 OtherDecreasesSchedule
    Name:
    ARLENE AND MICHAEL ROSEN FOUNDATION
    EIN:
    47-3040686
    Description Amount
    UNREALIZED LOSS 1,594,292


    TY 2018 OtherExpensesSchedule
    Name:
    ARLENE AND MICHAEL ROSEN FOUNDATION
    EIN:
    47-3040686
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 9,582 0   9,582
    MEMBERSHIPS, BOOKS, SUBSCRIPTIONS, REFERENCE 1,725 0   1,725
    WEBSITE 515 0   515
    MARKETING & ADVERTISING 154 0   154
    OFFICE EXPENSES 4,002 0   4,002


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    ARLENE AND MICHAEL ROSEN FOUNDATION
    EIN:
    47-3040686
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OUTSIDE CONTRACT SERVICES 75,000 0   75,000
    INVESTMENT MANAGEMENT FEES 100,450 100,450   0
    FINANCIAL ADVISOR FEES 5,102 5,102   0
    PAYROLL PROCESSING FEES 3,852 0   3,852


    TY 2018 TaxesSchedule
    Name:
    ARLENE AND MICHAEL ROSEN FOUNDATION
    EIN:
    47-3040686
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    IRS TAXES 23,989 0   0
    FOREIGN TAX WITHHELD 6,579 6,579   0
    FILING FEES 235 0   0