TY 2018 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

Go 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
DAVID & SHEILA CORNSTEIN FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)985 FIFTH AVENUE NO 12B
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY10065

A Employer identification number

13-3519327

B Telephone number (see instructions)

(212) 632-3787

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$701,412J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	6,209		6,209
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		39,208
b	Gross sales price for all assets on line 6a 690,357
7	Capital gain net income (from Part IV, line 2)...			410,814
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........	45,417		417,023
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		22,000	11,000	11,000
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		5,429	30	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		7,084	6,984	100
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	34,513		18,014	11,100
25	Contributions, gifts, grants paid.......	111,350			111,350
26	Total expenses and disbursements. Add lines 24 and 25	145,863		18,014	122,450
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-100,446
b	Net investment income (if negative, enter -0-)			399,009
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	32,382	64,145	64,145
	2	Savings and temporary cash investments.........
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	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).......	296,350	588,666	577,317
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	489,891	65,640	59,950
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	818,623	718,451	701,412
	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 )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	0	0
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	818,623	718,451
	30	Total net assets or fund balances (see instructions).....	818,623	718,451
	31	Total liabilities and net assets/fund balances (see instructions).	818,623	718,451

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

818,623

Enter amount from Part I, line 27a .....................

-100,446

Other increases not included in line 2 (itemize) bullet

274

Add lines 1, 2, and 3 ..........................

718,451

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

718,451

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	1 SHR ALPHABET INC CL A	P	2018-01-10	2018-01-18
b	1 SHR ALPHABET INC CL C	P	2018-01-16	2018-01-18
c	1 SHR AMAZON COM INC	P	2018-01-10	2018-01-18
d	6 SHR APPLE INC	P	2018-01-10	2018-01-18
e	1 SHR BERKSHIRE HATHAWAY CL-B NEW	P	2018-01-10	2018-01-18
	3 SHR JPMORGAN CHASE & CO	P	2018-01-10	2018-01-18
	5 SHR MASTERCARD INC CL A	P	2018-01-10	2018-01-18
	1 SHR NVR INCORPORATED NEW	P	2018-01-10	2018-01-18
	1 SHR PRICELINE GRP INC COM NEW	P	2017-07-14	2018-01-18
	198 SHR CELGEN CORP	P		2018-03-02
	56 SHR CHARTER COMMUNICATIONS INC	P		2018-05-21
	2 SHR ALPHABET INC CL A	P	2018-01-10	2018-06-18
	2 SHR ALPHABET INC CL C	P	2018-01-10	2018-06-18
	1 SHR AMAZON COM INC	P	2018-02-14	2018-06-18
	16 SHR APPLE INC	P	2018-01-10	2018-06-18
	8 SHR BERKSHIRE HATHAWAY CL-B NEW	P	2018-01-10	2018-06-18
	1 SHR BOOKING HOLDINGS INC	P	2017-07-14	2018-06-18
	6 SHR FACEBOOK INC CL-A	P		2018-06-18
	34 SHR JD COM INC SPON ADR CL A	P	2018-02-14	2018-06-18
	15 SHR JPMORGAN CHASE & CO	P	2018-02-14	2018-06-18
	1 SHR KANSAS CY SOUTHN IND NEW	P	2018-01-10	2018-06-18
	9 SHR KNIGHT-SWIFT TRANSN HLDGS CL A	P	2018-02-14	2018-06-18
	17 SHR LIBERTY BROADBAND CORP S-C	P	2018-01-16	2018-06-18
	14 SHR MASTERCARD INC CL A	P	2018-02-14	2018-06-18
	1 SHR NVR INCORPORATED NEW	P	2018-01-10	2018-06-18
	1 SHR TECK RESOURCES LTD	P	2018-02-14	2018-06-18
	194 SHR LIBERTY BROADBAND CORP S-C	P	2018-05-21	2018-07-02
	95 SHR CIMAREX ENERGY CO	P		2018-08-15
	469 SHR JD COM INC SPON ADR CL A	P		2018-09-24
	350 SHR JD COM INC SPON ADR CL A	P	2017-07-14	2018-10-11
	122 SHR JD COM INC SPON ADR CL A	P	2018-03-02	2018-10-11
	348 SHR CENTENNIAL RESOURCE DEV CL A	P		2018-11-15
	68 SHR FACEBOOK INC CL-A	P	2017-07-14	2018-11-16
	221 SHR NATIONAL OILWELL VARCO INC	P	2017-07-14	2018-11-07
	429 SHR CENTENNIAL RESOURCE DEV CL A	P		2018-11-15
	90 SHR FACEBOOK INC CL-A	P		2018-11-16
	247 SHR NATIONAL OILWELL VARCO INC	P		2018-11-07
	143 SHR TECK RESOURCES LTD	P	2018-02-14	2018-11-20
	233 SHR KNIGHT-SWIFT TRANSN HLDGS CL A	P		2018-12-18
	20,000 SHR REMARK HLDGS INC	D		2018-01-24
	4,204 SHR AT&T INC	D		2018-01-10
	1,020 SHR LOEWS CORP	D		2018-03-01
	1,250 SHR LOWES CORP	D		2018-09-19
	101 SHR KANSAS CY SOUTHN IND NEW	P		2018-12-18

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,131	1,109	22
b	1,126	1,126	0
c	1,299	1,251	48
d	1,076	1,044	32
e	213	206	7
	340	330	10
	825	798	27
	3,642	3,510	132
	1,933	1,933	0
	17,185	22,661	-5,476
	14,983	19,507	-4,524
	2,349	2,218	131
	2,329	2,214	115
	1,724	1,440	284
	3,024	2,783	241
	1,525	1,644	-119
	2,150	1,947	203
	1,196	1,097	99
	1,507	1,598	-91
	1,617	1,718	-101
	109	107	2
	376	439	-63
	1,296	1,296	0
	2,803	2,403	400
	3,118	3,510	-392
	27	30	-3
	14,571	13,757	814
	7,884	10,056	-2,172
	11,680	21,659	-9,979
	8,151	14,583	-6,432
	2,841	5,212	-2,371
	5,733	6,667	-934
	9,569	10,882	-1,313
	7,970	7,433	537
	7,067	8,256	-1,189
	12,665	16,122	-3,457
	8,908	8,938	-30
	2,918	4,338	-1,420
	6,322	11,180	-4,858
	237,838	52,919	184,919
	154,160		154,160
	50,170		50,170
	64,496		64,496
	9,637	10,748	-1,111

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			22
b			0
c			48
d			32
e			7
			10
			27
			132
			0
			-5,476
			-4,524
			131
			115
			284
			241
			-119
			203
			99
			-91
			-101
			2
			-63
			0
			400
			-392
			-3
			814
			-2,172
			-9,979
			-6,432
			-2,371
			-934
			-1,313
			537
			-1,189
			-3,457
			-30
			-1,420
			-4,858
			184,919
			154,160
			50,170
			64,496
			-1,111

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	410,814
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

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

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.

(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2017	60,475	391,342	0.154532
2016	56,114	252,798	0.221972
2015	54,425	299,586	0.181667
2014	59,440	390,944	0.152042
2013	56,390	364,418	0.154740

Total of line 1, column (d) .....................

0.864953

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 ......

0.172991

Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......

841,273

Multiply line 4 by line 3......................

145,533

Enter 1% of net investment income (1% of Part I, line 27b)...........

3,990

Add lines 5 and 6........................

149,523

Enter qualifying distributions from Part XII, line 4,.............

122,450

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)

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	7,980
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	7,980
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	7,980
6	Credits/Payments:

a	2018 estimated tax payments and 2017 overpayment credited to 2018	6a	1,300
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	1,300
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	142
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	6,822
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2019 estimated tax	Refunded	11

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

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

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

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

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

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

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

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

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

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

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

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

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

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

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

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

or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.

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

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

and addresses. ...............................

Form 990-PF (2018)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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

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

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

advisory privileges? If "Yes," attach statement. See instructions.................

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

Yes

Website address bullet

N/A

The books are in care of bullet

CBIZ MHM LLC Telephone no. bullet

(212) 790-5700

Located at bullet

1065 AVENUE OF AMERICASNEW YORKNY ZIP+4 bullet

10018

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

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

16 At any time during calendar year 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

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

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

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

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

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

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

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

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

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

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

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2018?.............

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

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

At the end of tax year 2018, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2018?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 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.)..................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?

Form 990-PF (2018)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

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

Yes

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

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

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

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

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

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

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

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

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

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......

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

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

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

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

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

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

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

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

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

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

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? .................YesNo

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
DAVID CORNSTEIN	TRUSTEE 0.50	0	0	0
985 FIFTH AVENUE 12B NEW YORK,NY10065	TRUSTEE 0.50	0	0	0
SHEILA CORNSTEIN	TRUSTEE 0.50	0	0	0
985 FIFTH AVENUE 12B NEW YORK,NY10065	TRUSTEE 0.50	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









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

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
NONE

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

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


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......................... bullet

Form 990-PF (2018)

Page 8

Part X

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

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

purposes:

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

777,361

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

76,723

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

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

854,084

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

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

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

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

854,084

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

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

12,811

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

841,273

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

42,064

Part XI

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

and do not complete this part.)

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

42,064

Tax on investment income for 2018 from Part VI, line 5......

7,980

Income tax for 2018. (This does not include the tax from Part VI.)...

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

7,980

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

34,084

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

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

34,084

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

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

34,084

Part XII

Qualifying Distributions (see instructions)

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

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

122,450

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

122,450

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

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

122,450

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)

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					34,084
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......	38,824
b From 2014......	41,207
c From 2015......	40,282
d From 2016......	45,596
e From 2017......	46,070
fTotal of lines 3a through e........		211,979
4Qualifying distributions for 2018 from Part
XII, line 4: $ 122,450
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.....					34,084
e Remaining amount distributed out of corpus		88,366
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		300,345
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) ...		38,824
9Excess distributions carryover to 2019. Subtract lines 7 and 8 from line 6a ......		261,521
10 Analysis of line 9:
a Excess from 2014....	41,207
b Excess from 2015....	40,282
c Excess from 2016....	45,596
d Excess from 2017....	46,070
e Excess from 2018....	88,366

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 section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2018	(b) 2017	(c) 2016	(d) 2015	(e) Total

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

Part XV

Supplementary Information (Complete this part only if the 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).)

DAVID CORNSTEIN

SHEILA CORNSTEIN

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

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

Check here bullet

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

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)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
ALBERT EINSTEIN COLLEGE OF MEDICINE 500 W 185TH STREET NEW YORK,NY10033	NONE	EXEMPT	CHARITABLE	1,000
BREAST CANCER RESEARCH FOUNDATION 60 EAST 56TH STREET NEW YORK,NY10022	NONE	EXEMPT	CHARITABLE	2,500
CROHN'S & COLITIS FOUNDATION OF AMERICA 386 PARK AVE SOUTH NEW YORK,NY10016	NONE	EXEMPT	CHARITABLE	500
DANA FARBER CANCER INSTITUTE 450 BROOKLINE AVE BOSTON,MA02215	NONE	EXEMPT	CHARITABLE	1,000
FACES 123 W 115TH ST NEW YORK,NY10026	NONE	EXEMPT	CHARITABLE	500
HORACE MANN SCHOOL 231 WEST 246TH STREET BRONX,NY10471	NONE	EXEMPT	CHARITABLE	45,000
LAFAYETTE COLLEGE 307 MARKLE HALL EASTON,PA18042	NONE	EXEMPT	CHARITABLE	1,000
MEMORIAL SLOAN KETTERING CANCER CENTER 1275 YORK AVENUE NEW YORK,NY10065	NONE	EXEMPT	CHARITABLE	1,000
MORSE LIFE FOUNDATION 4847 FRED GLADSTONE DR WEST PALM BEACH,FL33417	NONE	EXEMPT	CHARITABLE	5,000
PARK EAST SYNAGOGUE 163 EAST 67TH STREET NEW YORK,NY10065	NONE	EXEMPT	CHARITABLE	26,500
THE MARINE CORPS-LAW ENFORCEMENT FOUNDATION 273 COLUMBUS AVENUE TUCKAHOE,NY10707	NONE	EXEMPT	CHARITABLE	7,500
UJA FEDERATION OF NEW YORK 130 EAST 59TH STREET NEW YORK,NY10022	NONE	EXEMPT	CHARITABLE	5,000
UJA FEDERATION OF NEW YORK 130 EAST 59TH STR NEW YORK,NY10022	NONE	EXEMPT	CHARITABLE	5,000
NORTHWELL HEALTH FOUNDATION 2000 MARCUS AVENUE NEW HYDE PARK,NY11042	NONE	EXEMPT	CHARITABLE	50
TRI-COUNTY ANIMAL RESCUE 21287 BOCA RIO ROAD BOCA RATON,FL33433	NONE	EXEMPT	CHARITABLE	50
BIRTHRIGHT ISRAEL FOUNDATION PO BOX 21615 NEW YORK,NY10087	NONE	EXEMPT	CHARITABLE	3,000
NEW-YORK HISTORICAL SOCIETY 170 CENTRAL PARK WEST NEW YORK,NY10024	NONE	EXEMPT	CHARITABLE	500
NATIONAL SEPTEMBER 11 MEMORIAL AND MUSEUM AT THE WORLD TRADE CENTER 200 LIBERTY STREET NEW YORK,NY10281	NONE	EXEMPT	CHARITABLE	5,000
ISRAEL HUMANITARIAN FOUNDATION INC 403 EAST 62ND STREET NEW YORK,NY10065	NONE	EXEMPT	CHARITABLE	1,000
MARTIN L BERMAN FOUNDATION PALISADES CAPITAL ONE BRIDGE PLAZA FORT LEE,NJ07024	NONE	EXEMPT	CHARITABLE	250
Total ................................. 3a				111,350

bApproved for future payment

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

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	6,209
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	39,208
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		45,417	0

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

45,417

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2018)

Page 13

Part XVII

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2018)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2018 AccountingFeesSchedule

Name:

DAVID & SHEILA CORNSTEIN FOUNDATION

EIN:

13-3519327

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
CBIZ	22,000	11,000		11,000

- TIN:

TY 2018 InvestmentsCorpStockSchedule

Name:

DAVID & SHEILA CORNSTEIN FOUNDATION

EIN:

13-3519327

Name of Stock	End of Year Book Value	End of Year Fair Market Value
INVESTMENTS THRU MS A/C#119916	588,666	577,317

- TIN:

TY 2018 InvestmentsOtherSchedule2

Name:

DAVID & SHEILA CORNSTEIN FOUNDATION

EIN:

13-3519327

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
INVESTMENTS THRU MS A/C#135130	AT COST	65,640	59,950

- TIN:

TY 2018 OtherExpensesSchedule

Name:

DAVID & SHEILA CORNSTEIN FOUNDATION

EIN:

13-3519327

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
INVESTMENT FEES	6,982	6,982	0
FILING FEES	100	0	100
INTEREST CHARGES	2	2	0

- TIN:

TY 2018 OtherIncreasesSchedule

Name:

DAVID & SHEILA CORNSTEIN FOUNDATION

EIN:

13-3519327

Description	Amount
WASH SALE ADJUSTMENT	274

- TIN:

TY 2018 TaxesSchedule

Name:

DAVID & SHEILA CORNSTEIN FOUNDATION

EIN:

13-3519327

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
EXCISE TAX	5,399	0		0
FOREIGN TAX	30	30		0