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
JACOB S SHAPIRO FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 4436 2545 WILKENS AVENUE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BALTIMORE, MD21223
A Employer identification number

52-6072215
B Telephone number (see instructions)

(410) 566-9200
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$4,692,519J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 6,246 6,246  
4 Dividends and interest from securities... 95,803 93,786  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 581,090
b Gross sales price for all assets on line 6a 1,803,837
7 Capital gain net income (from Part IV, line 2)... 581,090
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........ 683,139 681,122  
Operating and Administrative Expenses 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).......        
c Other professional fees (attach schedule).... Click to see attachment 74,640 74,640   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 9,081 9,081   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 44 44   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 83,765 83,765   0
25 Contributions, gifts, grants paid....... 339,500 339,500
26 Total expenses and disbursements. Add lines 24 and 25 423,265 83,765   339,500
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 259,874
b Net investment income (if negative, enter -0-) 597,357
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............. 86,109 9,080 9,080
2 Savings and temporary cash investments......... 222,749 176,417 176,417
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) 228,612 Click to see attachment246,618 242,967
b Investments—corporate stock (attach schedule)....... 2,390,169 Click to see attachment2,743,289 3,605,811
c Investments—corporate bonds (attach schedule)....... 461,001 Click to see attachment440,899 432,792
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 154,604 Click to see attachment183,440 225,452
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) 3,543,244 3,799,743 4,692,519
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
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..................    
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........ 3,579,572 3,839,446
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds -36,328 -39,703
30 Total net assets or fund balances (see instructions)..... 3,543,244 3,799,743
31 Total liabilities and net assets/fund balances (see instructions). 3,543,244 3,799,743
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
3,543,244
2
Enter amount from Part I, line 27a .....................
2
259,874
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
3,803,118
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
3,375
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
3,799,743
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 FIDELITY INVESTMENTS - PUBLICLY TRADED SECURITIES - SHORT TERM P    
b FIDELITY INVESTMENTS - PUBLICLY TRADED SECURITIES - LONG TERM P    
c GABELLI & CO, INC. - PUBLICLY TRADED SECURITIES - SHORT TERM P    
d GABELLI & CO, INC. - PUBLICLY TRADED SECURITIES - LONG TERM P    
e MOUNT YALE PRIVATE EQUITY OFFSHORE FUND LP P    
CASH IN LIEU - GABELLI P    
CASH IN LIEU - FIDELITY P    
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 409,403   418,685 -9,282
b 983,385   750,270 233,115
c 69,146   65,428 3,718
d 341,469   101,932 239,537
e       113,037
      2
      529
434     434
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       -9,282
b       233,115
c       3,718
d       239,537
e       113,037
      2
      529
      434
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 2 581,090
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 155,000 5,227,710 0.029650
2016 259,594 4,836,755 0.053671
2015 267,967 5,248,328 0.051058
2014 255,000 5,508,973 0.046288
2013 227,000 5,157,634 0.044012
2
Total of line 1, column (d) .....................
2
0.224679
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
0.044936
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
5,372,037
5
Multiply line 4 by line 3......................
5
241,398
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
5,974
7
Add lines 5 and 6........................
7
247,372
8
Enter qualifying distributions from Part XII, line 4,.............
8
339,500
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 5,974
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 5,974
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 5,974
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 19,212
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 19,212
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 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 13,238
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet13,238 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMD
    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 instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletNONE
    14
    The books are in care ofbulletDIANE GORDON Telephone no.bullet (410) 566-9200

    Located atbulletPO BOX 4436 2545 WILKENS AVEBALTIMOREMD ZIP+4bullet21223
    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
    JAMES R SHAPIRO TRUSTEE
    0.50     		0 0 0
    2545 WILKENS AVENUE
    BALTIMORE,MD21223
    JANE BAUM RODBELL TRUSTEE
    0.50     		0 0 0
    2545 WILKENS AVENUE
    BALTIMORE,MD21223
    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
    MOUNT YALE CAPITAL GROUP INVESTMENT MANAGEMENT 53,643
    1580 LINCOLN STREET SUITE 680
    DENVER,CO80203
    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
    5,149,124
    b
    Average of monthly cash balances.......................
    1b
    304,721
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    5,453,845
    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
    5,453,845
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    81,808
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,372,037
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    268,602
    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
    268,602
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    5,974
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,974
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    262,628
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    262,628
    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
    262,628
    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
    339,500
    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
    339,500
    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
    5,974
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    333,526
    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 7 262,628
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 253,849
    b Total for prior years:2016, 20, 20 81,634
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 339,500
    a Applied to 2017, but not more than line 2a 253,849
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		Click to see attachment81,634
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 4,017
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		258,611
    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 ......     		0
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018....  
    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
    AMERICAN FRIENDS OF TORAH BTZFAT
    2418 AVENUE I
    BROOKLYN,NY11210     		NONE PUBLIC GENERAL 500
    AMERICAN TECHNION SOCIETY
    55 EAST 59TH ST
    NEW YORK,NY10022     		NONE PUBLIC GENERAL 1,000
    AMERICAN VISIONARY ART MUSEUM
    800 KEY HIGHWAY
    BALTIMORE,MD21230     		NONE PUBLIC GENERAL 1,000
    ASSOCIATED JEWISH COMMUNITY FOUNDATION
    101 WEST MOUNT ROYAL AVE
    BALTIMORE,MD21201     		NONE PUBLIC ANNUAL CAMPAIGN 70,000
    BALTIMORE COMMUNITY FOUNDATION
    2 EAST READ ST 9TH FLOOR
    BALTIMORE,MD21202     		NONE PUBLIC GENERAL 184,180
    BALTIMORE CORPS
    PO BOX 67348
    BALTIMORE,MD21215     		NONE PUBLIC GENERAL 1,000
    BALTIMORE HEBREW CONGREGATION
    7401 PARK HEIGHTS AVENUE
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 820
    BALTIMORE LEADERSHIP SCHOOL FOR YOUNG WOMEN
    128 W FRANKLIN ST
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 2,000
    BALTIMORE MUSEUM OF ART
    10 ART MUSEUM DR
    BALTIMORE,MD21218     		NONE PUBLIC GENERAL 1,500
    BALTIMORE SCHOOL FOR THE ARTS
    712 CATHEDRAL ST
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 3,500
    BALTIMORE SYMPHONY ORCHESTRA
    1212 CATHEDRAL STREET
    BALTIMORE,MD21201     		NONE PUBLIC BSO'S RESOUNDING CAMPAIGN 5,000
    BETH AM SYNAGOGUE
    2501 EUTAW PL
    BALTIMORE,MD21217     		NONE PUBLIC GENERAL 1,000
    BRYN MAWR SCHOOL
    109 WEST MELROSE AVENUE
    BALTIMORE,MD21210     		NONE PUBLIC GENERAL 5,000
    CENTRAL SCHOLARSHIP BUREAU
    6 PARK CENTER COURT SUITE 211
    OWINGS MILLS,MD21117     		NONE PUBLIC SCHOLARSHIPS 7,000
    CHILDREN'S SCHOLARSHIP FUND BALTIMORE
    1000 ST PAUL PLACE
    BALTIMORE,MD21202     		NONE PUBLIC GENERAL 1,000
    ENOCH PRATT FREE LIBRARY
    400 CATHEDRAL ST
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 2,500
    EQUAL JUSTICE INITIATIVE
    122 COMMERCE STREET
    MONTGOMERY,AL36104     		NONE PUBLIC GENERAL 1,000
    ETZ CHAIM CENTER INC
    3702 FORDS LN
    BALTIMORE,MD21215     		NONE PUBLIC GENERAL 2,000
    GILMAN SCHOOL SCHOLARSHIP FUND
    5407 ROLAND AVE
    BALTIMORE,MD21210     		NONE PUBLIC GENERAL 5,000
    JOHNS HOPKINS UNIVERSITY DEPT OF NEUROLOGY
    100 N CHARLES ST SUITE 453
    BALTIMORE,MD21201     		NONE PUBLIC PROJECT RESTORE DIVISION FUND 1,000
    KENNEDY KRIEGER FOUNDATION
    707 NORTH BROADWAY
    BALTIMORE,MD21205     		NONE PUBLIC GENERAL 1,000
    MARYLAND HISTORICAL SOCIETY
    201 WEST MONUMENT ST
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 250
    MARYLAND HUMANITIES
    108 WEST CENTRE STREET
    BALTIMORE,MD212014565     		NONE PUBLIC GENERAL 500
    MARYLAND INSTITUTE COLLEGE OF ART
    1300 MOUNT ROYAL AVE
    BALTIMORE,MD21217     		NONE PUBLIC UNRESTRICTED ANNUAL FUND 500
    MARYLAND PUBLIC TELEVISION
    11767 OWINGS MILLS BLVD
    BALTIMORE,MD21117     		NONE PUBLIC CAPITAL CAMPIAGN FOUNDATION 9,000
    NATIONAL MENTORING PARTNERHSIP
    201 SOUTH STREET SUITE 615
    BOSTON,MA02111     		NONE PUBLIC GENERAL 500
    NER ISRAEL RABBINICAL COLLEGE
    400 MOUNT WILSON LN
    BALTIMORE,MD21208     		NONE PUBLIC GENERAL 2,000
    PLANNED PARENTHOOD OF MARYLAND
    300 N HOWARD STREET
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 1,000
    POLYCYSTIC KIDNEY DISEASE
    8330 WARD PARKWAY SUITE 500
    KANSAS CITY,MO64114     		NONE PUBLIC GENERAL 1,000
    RYR-1 FOUNDATION
    PO BOX 13312
    PITTSBURGH,PA15243     		NONE PUBLIC GENERAL 1,000
    SARASOTA CUBAN BALLET SCHOOL
    501 N BENEVA ROAD SUITE 700
    SARASOTA,FL34232     		NONE PUBLIC GENERAL 1,500
    SHEPPARD PRATT HEALTH SYSTEM
    6501 N CHARLES STREET
    BALTIMORE,MD21285     		NONE PUBLIC GENERAL/BRAIN INSTITUTE 1,000
    SPECIAL OLYMPICS
    PO BOX 23961
    BALTIMORE,MD21203     		NONE PUBLIC GENERAL 250
    SUSAN COHAN COLON CANCER FOUNDATION
    201 NORTH CHARLES ST SUITE 2404
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 750
    TEACH FOR AMERICA
    2601 N HOWARD ST SUITE 300
    BALTIMORE,MD21218     		NONE PUBLIC GENERAL 1,000
    THE PARK SCHOOL
    2425 OLD COURT RD
    BROOKLANDVILLE,MD21208     		NONE PUBLIC GENERAL 1,000
    THE SEED SCHOOL OF MARYLAND
    200 FONT HILL AVENUE
    BALTIMORE,MD21223     		NONE PUBLIC GENERAL 5,000
    TORAH INSTITUTE OF BALTIMORE
    35 ROSEWOOD LANE
    OWINGS MILLS,MD21117     		NONE PUBLIC GENERAL 2,000
    UNIVERSITY OF MARYLAND SCHOOL OF SOCIAL WORK
    620 W LEXINGTON ST
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 11,000
    VASSAR COLLEGE
    124 RAYMOND AVENUE
    POGHKEEPSIE,NY12604     		NONE PUBLIC GENERAL 250
    WALTERS ART MUSEUM
    600 N CHARLES STREET
    BALTIMORE,MD20201     		NONE PUBLIC GENERAL 2,500
    WILMER EYE OPHTHALMOLOGICAL INSTITUTE
    727 MAUMENEE BUILDING 600 NORTH
    WOLFE ST
    BALTIMORE,MD21287     		NONE PUBLIC GENERAL 500
    Total .................................bullet 3a 339,500
    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 6,246  
    4 Dividends and interest from securities....     14 95,803  
    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 ............     		    18 581,090  
    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).. 0 683,139 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    683,139
    (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

    TY 2018 AppliedToPriorYearElection
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN:
    52-6072215
    Election:
    PURSUANT TO IRC SEC. 4942(H)(2) AND TREASURY REGULATION 53.4942(A)-3(D)(2) REGARDING MINIMUM DISTRIBUTION REQUIREMENTS, THE FOUNDATION HEREBY ELECTS TO TREAT CURRENT YEAR QUALIFYING DISTRIBUTIONS IN EXCESS OF THE IMMEDIATELY PRECEDING TAX YEAR'S UNDISTRIBUTED INCOME AS BEING MADE OUT OF UNDISTRIBUTED INCOME FROM THE TAX YEAR ENDING 12/31/2016, IN THE AMOUNT OF $81,634.

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN:
    52-6072215
    Name of Bond End of Year Book Value End of Year Fair Market Value
    17000 SHS GENERAL ELEC CAP CORP MTN BE 3.15000% 09/07/22 FIXED COUPON 17,445 16,066
    18000 SHS SHERWIN WILLIAMS CO NOTE CALL MAKE WHOLD FIXED COUPON 06/01/22 18,022 17,424
    18000 SHSWELLS FARGO & CO NEW NOTE 3/04/21 FIXED COUPON 18,088 17,704
    18000 SHS JPMORGAN CHASE & CO NOTE 9/23/22 FIXED COUPON 18,161 17,857
    19000 SHSBANK AMER CORP MTN 1/11/23 FIXED COUPON 18,950 18,712
    18000 SHS MEDTRONIC INC NOTE CALL MAKE WHOLE 3/15/22 FIXED COUPON 18,775 17,950
    19000 SHSAT&T INC SR GLBL NT 3.00000% 2/15/22 FIXED COUPON 19,017 18,672
    3188.422 SHS PIA MBS BOND FUND(PMTGX) 31,962 30,485
    43000 SHS FEDERAL NATL MTG ASSN 1.375% 02/26/21 FIXED COUPON 42,158 41,952
    6709.437 SHS PIA BBB BOND FUND(PBBBX) 67,308 61,090
    1700 SHSUS COMCAST CORP NEW NOTE CALL MAKE WHOLE 3% 02/01/24 FIXED COUPON 16,594 16,574
    8438.3030 SHSUS DEER PARK TOTAL RETURN CREDIT FUND I (DPFNX) 88,642 92,484
    50000 SHSUS FEDERAL HOME LN MTG CORP MTN 08/12/21 FIXED COUPON 1.125% 47,644 48,291
    18000 SHSUS GOLDMAN SACHS GROUP INC NOTE 2.625% 4/25/21 FIXED COUPON 18,133 17,531

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN:
    52-6072215
    Name of Stock End of Year Book Value End of Year Fair Market Value
    22 SHS LIBERTY MEDIA CORP CLASS C 75 654
    22 SHS LIBERTY BROADBAND CORP COM SER A 138 1,580
    44 SHS LIBERTY MEDIA CORP DELAWARE CL A (FORMERLY STARZ) 147 1,351
    500 SHS NEWS CORP NEW CL A (FORMERLY TWENTY FIRST CENTURY) 237 5,675
    300 SHS ENERGIZER HLDGS INC COM 745 13,545
    550 SHS MSG NETWORK INC CL A 745 12,958
    58 SHS LIBERTY BROADBAND CORP SERIES C 830 4,178
    700 SHS ROLLINS INC 358 16,245
    174 SHS LIBERTY LILAC SHS CL A 896 2,519
    174 SHS LIBERTY LILAC SHS CL C 934 2,535
    675 SHS FLOWERS FOOD INC COM 1,216 12,467
    300 SHS DISCOVERY COMMS NEW SER A 1,228 7,422
    110 SHS ASML HOLDING NV EURO.09 NY REG 2012 (ASML) 1,539 15,562
    250 SHS ITT CORP NEW COM NEW 1,636 12,068
    800 SHS AMETEK INC NEW COM 1,520 47,390
    200 SHS AMC NETWORKS INC CL A 1,748 10,976
    2000 SHS TWENTY FIRST CENTURY FOX A 447 24,060
    385 SHS TENCENT HLDGS LIMITED UNSP ADR EACH REP 1 ORD (TCEHY) 4,215 16,243
    300 SHS EDGEWELL PERS CARE CO 2,137 11,205
    183 SHS MADISON SQUARE GARDEN CO NEW CL A 2,178 48,989
    900 SHS DISCOVERY COMMS NEW SER C 2,854 20,772
    500 SHS AMERICAN EXPRESS CO 2,874 47,660
    145 SHS UNION PACIFIC CORP (UNP) 2,146 12,994
    105 SHS HOME DEPOT INC COM (HD) 2,376 12,027
    1000 SHS LIBERTY GLOBAL PLC SHS CL C 3,959 20,640
    1000 SHS LIBERTY GLOBAL PLC SHS CL A 4,214 21,340
    700 SHS FLOWSERVE CORP COM 4,314 26,614
    500 SHS XYLEM, INC. 4,582 33,360
    1087 SHS TELEPHONE & DATA SYSTEMS 4,963 35,371
    500 SHS CORNING INC 5,148 15,105
    250 SHS PROLOGIS INC COM(PLD)-OTHER 3% 3,716 10,217
    600 SHS FEDERAL SIGNAL CORP COM 5,472 11,940
    500 SHS ARCHER DANIELS MIDLAND 5,662 20,485
    400 SHS SJW CORP COM 5,666 22,248
    210 SHS MICROSOFT CORP (MSFT) 4,210 14,829
    500 SHS CBS CORP CLASS A 5,964 21,925
    560 SHS HUNTSMAN CORP (HUN) 4,420 7,562
    265 SHS DOWDUPONT INC COM (DWDP) 4,932 9,894
    175 SHS JPMORGAN CHASE & CO (JPM) 4,496 11,812
    260 SHS KONINKLIJKE PHILIPS N V NY REG SH NEW (PHG) 7,003 9,129
    150 SHS NATIONAL BEVERAGE CORP COM 7,074 10,766
    200 SHS NORTHERN TRUST CORP 7,077 16,718
    298 SHS QIAGEN NV COM EURO.01 (QGEN) 13,925 16,123
    105 SHS APPLE INC (AAPL) 5,011 11,515
    320 SHS BB&T CORP (BBT) 5,375 9,704
    191 SHS PAYPAL HLDGS INC COM (PYPL) 7,591 15,638
    80 SHS ADIDAS AG ADR EA REP 1/2 ORD NPV (ADDYY) 17,174 15,638
    610 SHS CORNING INC (GLW) 5,291 11,752
    1000 SHS SCRIPPS E W CO OHIO CL A 8,353 15,730
    1200 SHS AEROJECT ROCKETDYNE HOLDINGS 6,471 35,230
    700 SHS DISH NETWORK CORP 8,386 17,479
    670 SHS INFINEON TECHNOLOGIES AG SPONSORED ADR (IFNNY) 9,465 13,896
    140 SHS UNITED PARCEL SVC INC CL B (UPS) 6,433 9,558
    400 SHS KINNEVIK INVESTMENTS AB SHS B 8,520 9,652
    700 SHS ROGERS COMMUNICATIONS CL B 9,034 35,882
    240 SHS MERCK & CO INC NEW COM (MRK) 9,589 16,505
    2000 SHS FERROR CORP 9,286 31,360
    105 SHS CUMMINS INC (CMI) 6,560 9,756
    285 SHS CARNIVAL CORP PAIRED CTF 7,393 10,797
    500 SHS CISCO SYS INC COM (CSCO) 5,855 12,999
    210 SHS PENTAIR PLC COM USD0.01 (PNR) 15,039 13,450
    500 SHS INTERPUBLIC GROUP COS INC 9,862 10,315
    120 SHS DEERE & COMPANY (DE) 6,950 12,530
    300 SHS CRANE CO 10,023 21,654
    300 SHS PATTERSON COMPANIES INC 19,415 13,762
    500 SHS LEGG MASON INC COM 10,318 12,755
    685 SHS KINDER MORGAN INC COM USD0.01 (KMI) 12,762 12,058
    590 SHS NIDEC CORPORATION (NJDCY) 8,772 14,213
    110 SHS WYNN RESORTS LTD (WYNN) 10,446 10,961
    162 SHS CENTENE CORP DEL (CNC) 8,316 14,528
    900 SHS HEWLETT-PACKARD CO DE (HPQ) 7,512 12,890
    180 SHS TIFFANY & CO NEW COM (TIF) 6,284 7,648
    500 SHS LIBERTY BRAVES GROUP C 11,092 12,445
    790 SHS PRYSMIAN SPA ADR (PRYMY) 17,278 10,895
    1000 SHS EL PASO ELEC CO COM NEW 11,320 50,130
    365 SHS CBRE GROUP INC CL A (CBG) 11,443 14,615
    300 SHS TRIBUNE MEDIA CO - A 11,344 13,614
    500 SHS LIBERTY BRAVES GROUP A 11,465 12,470
    110 SHS ALIBABA GROUP HLDG LTD (BABA) 10,556 13,707
    500 SHS DIEBOLD INC COM 3,610 1,245
    440 SHS MELCO RESORTS AND ENTERTAAINMENT LTD SPON ADR EACH REP 3 ORD SHS (ML 20,684 14,096
    270 SHS EMERSON ELECTRIC CO (EMR) 8,646 11,233
    330 SHS LVMH MOET HENNESSY VUITTON SE ADR EACH CNV INTO 0.2 ORD EURO.30 (LV 10,191 16,529
    515 SHS INVESCO LTD COM STK USD0.20 (IVZ) 8,888 6,043
    245 SHS AMERICAN INTL GROUP INC COM NEW (AIG) 11,083 8,158
    325 SHS SCHWAB CHARLES CROP NEW (SCHW) 11,321 12,042
    1000 SHS TREDEGAR INDS INC 12,848 15,860
    120 SHS KIMBERLY CLARK CORP (KMB) 9,181 9,571
    1000 SHS COTT CORP COM 13,415 13,940
    272 SHS MARATHON PETROLEUM CORP COM USD0.01 (MPC) 11,827 14,044
    0 SHS LKQ CORP COM (LKQ) 13,806 10,441
    400 SHS TAPESTRY INC COM (TRC) 10,892 10,809
    1000 SHS HEWLETT PACKARD ENTERPRISE COM 13,674 13,210
    1300 SHS REPUBLIC SVCS INC CL A 9,508 64,881
    200 SHS HDFC BANK LTD ADS EACH REPR 3 INR10 (MGT) (HDB) 10,136 14,503
    600 SHS AIA GROUP LTD SPONSORED ADR (AAGIY) 14,035 19,925
    345 SHS METLIFE INC COM (MET) 10,080 9,978
    1500 SHS GRIFFON CORP COM 14,216 15,675
    285 SHS BRISTOL MYERS SQUIBB (BMY) 10,068 10,448
    500 SHS MUELLER INDS INC COM 14,747 11,680
    11190 SHS CYPRESS SEMICONDUCTOR CORP (CY) 9,795 10,736
    275 SHS QUALCOMM INC (QCOM) 10,146 11,041
    388 SHS MSCO CORP (MAS) 18,767 12,737
    181 SHS CVS HEALTH CORP COM (CVS) 19,874 16,509
    285 SHS LAS VEGAS SANDS CORP (LVS) 9,990 9,785
    100 SHS AMGEN INC (AMGN) 10,851 13,627
    700 SHS VALVOLINE INC COM 15,802 13,545
    223 SHS COGNIZANT TECK SOLUTIONS CORP (CTSH) 15,950 14,146
    250 SHS OCCIDENTAL PETROLEUM CORP (OXY) 11,217 10,680
    680 SHS BANK OF AMERICAN CORP (BAC) 10,165 10,472
    545 SHS OF NEWELL BRANDS INC (NWL) 15,758 10,800
    520 SHS BAYER AG SPON ADR-EACH REPR 1 ORD NPV (BAYRY) 9,600 5,711
    500 SHS NATIONAL FUEL GAS CO NJ COM 16,490 25,590
    720 SHS SAFRAN S A SPON ADR (SAFRY) 12,893 16,567
    760 SHS FANUC CORPORATION UNSP ADR EACH REP 0.10 ORD NPV (FANUY) 17,140 11,547
    1000 SHS RYMAN HOSPITALITY PPTYS INC COM 11,555 40,014
    1500 SHS FREEPORT MCMORNA COPPER 7 GOLD CL B (B:FCX US) 17,397 15,465
    500 SHS BANK OF NEW YORK MELLON CORP 17,635 23,535
    500 SHS DEERE & COMPANY (DE) 17,745 74,585
    1500 SHS MUELLER WATER PRODUCTS INC. 18,271 13,650
    570 SHS ASTRAZEMECA ADR EACH REP 1 ORD USD0.25 MGT (AZN) 16,233 17,851
    1130 SHS CENTURYLINK INC (CTL) 13,514 11,969
    2000 SHS DANONE SPONS ADR 21,404 28,126
    565 SHS VIACOM INC NEW CL B (VIAB) 14,435 10,152
    1300 SHS KAMAN CORP COM FORMERLY CLA TO(KAMN) 13,656 44,872
    800 SHS NAVISTAR INTL CORP COM 22,384 20,760
    1300 SHS VIACOM INC NEW CL A 24,421 36,153
    800 SHS UNITED STATES CELLULAR CORP 24,556 41,576
    2000 SHS HERZ RENT CAR HLDS CO INC COM 9,146 13,650
    2500 SHS CNH INDUSTRIAL NV 44,514 36,840
    1000 SHS HERC HLDGS INC. COM 39,078 25,990
    6000 SHS ROLLS-ROYCE GROUP PLC 38,014 52,950
    66 SHSUS AARONS INC COM PAR $0.50 (AAN) 3,296 2,775
    239 SHUS ACCO BRANDS CORPORATION COM STK USD0.01 (ACCO) 2,439 1,620
    79 SHUS ACUITY BRANDS INC (AYI) 9,580 9,081
    70 SHUS ALLIANCE DATA SYS CORP (ADS) 16,905 10,506
    190 SHUS AMDOCS LTD ORD GBP0.01 (DOX) 11,315 11,130
    16 SHUS AMEDISYS INC COM (AMED) 1,750 1,874
    146 SHUS AMERISOURCEBERGEN CORP (ABC) 12,440 10,862
    389 SHUS ASSURED GUARANTY LTD COM USD0.01 (AGO) 9,803 14,891
    23 SHUS AUTOZONE INC NEV (AZO) 14,951 19,282
    62 SHUS BAOZUN INC ADR EACH REPR 3 ORD CL A SPONS (BZUN) 2,508 1,811
    171 SHUS BEST BUY INC (BBY) 12,433 9,049
    309 SHUS BLOCK H & R INC (HRB) 8,003 7,839
    81 SHUS BOYD GAMING CORP (BYD) 2,577 1,683
    30 SHUS BRINKS CO (BCO) 1,962 1,940
    238 SHUS BRISTOL MYERS SQUIBB (BMY) 12,088 12,371
    59 SHUS BROADCOM INC COM (AVGO) 12,226 15,003
    75 SHUS BROADCOM INC COM (AVGO) 16,669 19,071
    41 SHUS BRYN MAWR BK CORP (BMTC) 1,813 1,410
    200 SHUS BUNGE LIMITED COM 13,911 10,688
    122 SHUS C H ROBINSON WORLDWIDE INC COM (CHRW) 8,329 10,259
    89 SHUS CARETRUST REIT INC COM (CTRE) 1,498 1,643
    71 SHUS CARRIZO OIL & GAS INC (CRZO) 1,578 802
    549 SHUS CENTURYLINK INC (CTL) 12,409 8,994
    112 SHUS CHECK POINT SOFTWARE TECHNOLOGIES ORD ILS0.01 (CHKP) 11,863 11,497
    27 SHUS CHESAPEAKE UTILS CORP (CPK) 2,159 2,195
    15 SHUS CHILDRENS PL INC COM (PLCE) 2,010 1,351
    193 SHUS CHURCH & DWIGHT INC (CHD) 8,816 12,692
    91 SHUS CIGNA CORP NEW COM (CI)_ 15,290 17,283
    800 SHUS CIRCOR INTL INC COM 30,029 17,040
    179 SHUS CITIGROUP INC COM NEW 12,479 9,319
    94 SHUS CITRIX SYS INC COM (CTXS) 7,470 9,631
    347 SHUS COMCAST CORP NEW CL A (CMCSA) 12,363 11,812
    31 SHUS CONSOLIDATED TOMOKA LD CO COM (CTO) 1,896 1,628
    85 SHUS CUMMINS INC (CMI) 9,902 11,359
    86 SHUS CUMMINS INC (CMI) 12,466 11,493
    168 SHUS CVS HEALTH CORP COM (CVS) 12,488 11,007
    196 SHUS CVS HEALTH CORP COM (CVS) 11,918 12,842
    345 SHUS D R HORTON INC COM (DHI) 15,207 11,958
    34 SHUS DAVE & BUSTERS ENTMT INC COM (PLAY) 1,969 1,515
    37 SHUS DELEK US HLDGS INC NEW COM (DK) 1,433 1,203
    299 SHUS DELTA AIR LINES INC DEL COM NEW (DAL) 15,741 14,916
    177 SHUS DELUXE CORP (DLX) 11,547 6,804
    162 SHUS DISCOVER FINL SVCS (DFS) 12,367 9,555
    545 SHUS DISCOVERY INC NEW COM SER C (DISCK) 12,998 12,579
    57 SHUS EAGLE BANCORP INC MD (EGBN) 2,747 2,776
    191 SHUS EDGEWELL PERS CARE CO COM (EPC) 10,378 7,134
    25 SHUS EMERGENT BIOSOLUTIONS INC COM (EBS) 1,513 1,482
    26 SHUS ENCOMPASS HEALTH CORP COM (EHC) 1,931 1,604
    200 SHUS ENPRO INDS INC COM 14,979 12,020
    169 SHUS EROS INTERNATIONAL COM GBP0.30 (EROS) 1,760 1,401
    89 SHUS ESSENT GROUP LTD COM USD0.015 (ESNT) 3,496 3,042
    45 SHUS ESTY INC COM (ETSY) 1,865 2,141
    262 SHUS EVERI HLDGS INC COM 2,084 1,349
    57 SHUS F5 NETWORKS INC COM (FFIV) 7,456 9,236
    91 SHUS FACEBOOK INC-CLASS A (FB) 14,506 11,929
    330 SHUS FIRSTENERGY CORP (FE) 12,394 12,365
    14 SHUS FIVE BELOW INC COM (FIVE) 1,340 1,432
    500 SHUS GCP APPLIED TECHNOLOGIES INC COM 15,259 12,275
    112 SHUS GDS HOLDINGS LTD SPON ADS EACH REP 8 ORD CL A (GDS) 3,038 2,586
    296 SHUS GENERAL MILLS INC (GIS) 11,394 11,458
    297 SHUS GENERAL MILLS INC (GIS) 12,673 11,565
    86 SHUS GOLAR LNG LIMITED COM STK USD1.00 (GLNG) 2,216 1,871
    16 SHUS GRAHAM HOLDINGS CO COM USD1 (GHC) 9,549 10,249
    300 SHUS HALLIBUTON CO HOLDINGS CO FRMLY HALLIBURON CO (HAL) 7,635 7,974
    252 SHUS HANCOCK WHITNEY CORP (HWC) 7,640 8,732
    330 SHUS HEXAGON AB ADR EACH REPR 1 ORD SHS (HXGBY) 19,779 15,186
    38 SHUS HOOKER FURNITURE CORP COM (HOFT) 1,214 1,001
    130 SHUS HORIZON PHARMA PLC COM USD0.0001 2,371 2,540
    113 SHUS HOWARD HUGHES CORP COM (HHC) 12,700 11,031
    526 SHUS HP INC COM (HPQ) 12,377 10,757
    1190 SHUS ICICI BANK LIMITED ADR EACH REPR 2 ORD INR10(SPON) (IBN) 11,815 12,245
    31 SHUS IMMUNOMEDICS INC (IMMU) 666 442
    29 SHUS INTEGER HLDGS CORP COM (ITGR) 2,155 2,212
    250 SHUS INTEL CORP (INTC) 12,089 11,693
    35 SHUS INTERXION HOLDING COM EUR0.10 (INXN) 2,107 1,896
    767 SHUS ISHARES 1-3 YEAR TREASURY BOND ETF (SHY) 61,168 64,137
    2188 SHUS ISHARES CORE S&P SMALL-CAP E (IJR) 173,285 151,672
    109 SHUS KFORCE INC COM (KFRC) 3,656 3,370
    402 SHUS L BRANDS INC COM (LB) 12,339 10,311
    420 SHUS L BRANDS INC COM (LB) 16,405 10,787
    64 SHUS LAM RESEARCH CORP (LRCX) 9,361 8,715
    91 SHUS LAM RESEARCH CORP (LRCX) 15,828 12,391
    37 SHUS LEGACY TEX FINL GROUP INC COM (LTXB) 1,497 1,187
    205 SHUS LIBERTY BROADBAND CORP COM SER C (LBRDK) 10,070 14,766
    472 SHUS LIBERTY MEDIA CORP DELAWARE COM C SIRIUSXM (LSXMK) 14,930 17,455
    370 SHUS LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA (FWONK) 7,074 11,359
    7 SHUS LIGAND PHARMACEUTICALS INC COM NEW (LGND) 1,413 950
    3 SHUS LOXO ONCOLOGY INC (LOXO) 496 420
    60 SHUS LUMENTUM HLDGS INC COM (LITE) 3,267 2,521
    129 SHUS LYONDELLBASELL INDUSTRIAL N V COM USD0.01 CLASS A (LYB) 12,364 10,723
    47 SHUS MALIBU BOATS INC COM CL A (MBUU) 2,249 1,636
    158 SHUS MARATHON PETROLEUM CORP COM USD0.01 (MPC) 12,498 9,324
    56 SHUS MARCUS & MILLICHAP INC COM 2,075 1,922
    26 SHUS MARRIOTT VACATIONS WRLDWDE CP COM (VAC) 2,430 1,833
    55 SHUS MASTEC INC (MTZ) 2,275 2,231
    8 SHUS MEDIFAST INC (MED) 995 1,000
    26 SHUS MEDPACE HLDGS INC COM (MEDP) 1,363 1,376
    57 SHUS MERITAGE HOMES CORP (MTH) 1,995 2,093
    53 SHUS METHODE ELECTRS INC COM (MEI) 1,531 1,234
    281 SHUS MITEK SYS INC NEW (MITK) 2,164 3,038
    114 SHUS MODINE MANUFACTURING CO (MOD) 1,486 1,232
    64 SHUS NANOMETRICS INC (NANO) 2,027 1,749
    243 SHUS PACWEST BANCORP DEL COM (PACW) 12,162 8,087
    63 SHUS PATRICK INDS INC COM (PATK) 3,341 1,865
    24 SHUS PAYLOCITY HOLDINGS CORPORATION COM USD0.001 (PCTY) 1,386 1,445
    56 SHUS PERFORMANCE FOOD GROUP CO COM (PFGC) 1,591 1,807
    38 SHUS PLANTRONICS INC NEW COM (PLT) 1,990 1,258
    26 SHUS PRA HEALTH SCIENCES INC COM (PRAH) 2,601 2,391
    131 SHUS PREFERRED APT CMNTYS INC COM (APTS) 2,217 1,842
    44 SHUS PREFERRED BK LOS ANGELES CA COM NEW (PFBC) 2,538 1,907
    21 SHUS PRIMERICA INC COM USD0.01 (PRI) 2,313 2,052
    81 SHUS PROPETRO HLDG CORP COM (PUMP) 1,396 998
    127 SHUS PRUDENTIAL FINL INC (PRU) 12,511 10,357
    72 SHUS QCR HOLDINGS INC COM STK USD1 (QCRH) 2,712 2,310
    141 SHUS QUANTENNA COMMUNICATIONS INC COM (QTNA) 2,349 2,023
    108 SHUS QUEST DIAGNOSTICS INC (DGX) 10,484 8,993
    88 SHUS QUINSTREET INC COM USD0.001 (QNST) 1,411 1,428
    94 SHUS RADIAN GROUP INC (RDN) 1,773 1,538
    60 SHUS REGIONAL MGMT CORP COM USD0.10 1,648 1,443
    483 SHUS REGIONS FINL CORP (RF) 4,448 6,463
    13 SHUS REPLIGEN CORP (RGEN) 704 686
    179 SHUS SELECT MEDICAL HOLDINGS CORP COM USD0.001 (SEM) 3,004 2,748
    73 SHUS SIMON PPTY GRP INC (SPG) 12,567 12,263
    300 SHUS SMUCKER J M CO COM NEW 29,490 28,047
    221 SHUS SPARTAN MOTORS INC (SPAR) 2,628 1,598
    19 SHUS SPDR SER TR S&P BIOTECH ETF (XBI) 1,636 1,363
    65 SHUS STAG INDL INC COM (STAG) 1,692 1,617
    135 SHUS STANLEY BLACK & DECKER INC COM USD2.50 (SWK) 15,837 16,137
    102 SHUS STERLING BANCORP DEL COM (STL) 2,082 1,684
    224 SHUS SUNRUN INC COM (RUN) 2,705 2,439
    70 SHUS SUPERNUS PHARMACEUTICALS INC COM (SUPN) 3,318 2,325
    141 SHUS TE CONNECTIVITY LTD REG SHS (TEL) 10,800 10,664
    71 SHUS TEREX CORP NEW (TEX) 2,579 1,957
    140 SHUS TERUMO CORP ADR (TRUMY) 8,535 7,942
    90 SHUS TOWER INTERNATIONAL INC COM USD0.01 (TOWR) 2,347 2,142
    164 SHUS TOWER SEMICONDUCTOR LTD ORD ILS1 (TSEM) 3,361 2,417
    73 SHUS TRITON INTL LTD CL A ISIN #BMG9078F-1077 (TRTN) 2,190 2,268
    130 SHUS TTM TECHNOLOGIES INC COM (TTMI) 1,840 1,265
    375 SHUS TUPPERWARE BRANDS CORP (TUP) 12,601 11,839
    269 SHUS TYSON FOODS INC CL A (TSN) 16,615 14,335
    34 SHUS U S CONCRETE INC COM NEW (USCR) 1,223 1,200
    65 SHUS UNIVERSAL FOREST PRODS INC (UFPI) 2,134 1,687
    88 SHUS UNIVERSAL HEALTH SVCS INC CL B 10,892 10,257
    76 SHUS UPLAND SOFTWARE INC COM (UPLD) 2,444 2,066
    195 SHUS VALERO ENERGY CORP (VLO) 15,800 14,618
    500 SHUS VIACOM INC NEW CL B 15,041 12,850
    19 SHUS VIRTUS INVT PARTNERS INC COM (VRTS) 1,829 1,509
    145 SHUS VONAGE HLDGS CORP COM (VG) 1,906 1,266
    130 SHUS WALMART INC COM (WMT) 12,385 12,108
    51 SHUS WASHINGTON TRUST BANCORP INC COM STK USD0.0625 (WASH) 2,759 2,424
    275 SHUS WESTERN DIGITAL CORP DEL (WDC) 11,789 10,167
    225 SHUS WESTERN DIGITAL CORP DEL (WDC) 12,201 8,318
    572 SHUS WESTERN UNION CO COM (WU) 10,077 9,758
    570 SHUS WUXI BIOLOGICS CAYMAN INC ADR ISIN #KY98260N1080 (WXXWY) 11,547 7,302
    168 SHUS ZIONS BANCORP (ZION) 4,112 6,844
    9120.376 SHUS PRINCETON PRIVATE INVESTMENT FUND 100,000 99,479
    465 SHUS GAP INC DEL COM 12,235 11,870

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN:
    52-6072215
    US Government Securities - End of Year Book Value:

    246,618
    US Government Securities - End of Year Fair Market Value:

    242,967
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2018 InvestmentsOtherSchedule2
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN:
    52-6072215
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MOUNT YALE PRIVATE EQUITY OFFSHORE FUND LP AT COST 181,022 222,907
    143 SHUS AXCELIS TECHNOLOGIES INC COM NEW AT COST 2,418 2,545

    TY 2018 OtherDecreasesSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN:
    52-6072215
    Description Amount
    PRIOR PERIOD ADJUSTMENT 3,375


    TY 2018 OtherExpensesSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN:
    52-6072215
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK FEES 44 44   0


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN:
    52-6072215
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 74,640 74,640   0


    TY 2018 TaxesSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN:
    52-6072215
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES - GABELLI 861 861   0
    FOREIGN TAXES - FIDELITY 720 720   0
    2017 TAXES 7,500 7,500   0