TY 2018 Form 990PF

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)
	1	Contributions, gifts, grants, etc., received (attach schedule)	4,869,506
2	Check .............
3	Interest on savings and temporary cash investments	8,176	8,176
4	Dividends and interest from securities...	535,903	535,903
5a	Gross rents............	22,678	22,678
b	Net rental income or (loss) 22,678
6a	Net gain or (loss) from sale of assets not on line 10		2,460,408
b	Gross sales price for all assets on line 6a
7	Capital gain net income (from Part IV, line 2)...		2,460,408
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).......		250,346	250,346	0
12	Total. Add lines 1 through 11........	8,147,017	3,277,511	0
	13	Compensation of officers, directors, trustees, etc.	0	0	0	0
14	Other employee salaries and wages......	150,802	30,160	0	120,642
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		11,350	10,215	0	1,135
c	Other professional fees (attach schedule)....		45,945	45,945	0	0
17	Interest...............	149,165	149,165	0	0
18	Taxes (attach schedule) (see instructions)...
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		308,514	294,594	0	2,693
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	665,776	530,079	0	124,470
25	Contributions, gifts, grants paid.......	1,313,616			1,313,616
26	Total expenses and disbursements. Add lines 24 and 25	1,979,392	530,079	0	1,438,086
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	6,167,625
b	Net investment income (if negative, enter -0-)		2,747,432
c	Adjusted net income (if negative, enter -0-)...			0

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.............	531,073	654,346	654,346
	2	Savings and temporary cash investments.........
	3	Accounts receivable 17,728
		Less: allowance for doubtful accounts	75,737	17,728	17,728
	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	500,000	0	0
	8	Inventories for sale or use..............		238,286
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	4,790,931	5,420,190	5,696,731
	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)..........	15,830,873	15,415,062	15,526,689
	14	Land, buildings, and equipment: basis 4,770,332
		Less: accumulated depreciation (attach schedule) 1,281,656	0	3,488,676	22,940,790
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	21,728,614	25,234,288	44,836,284
	17	Accounts payable and accrued expenses..........	9,393
	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 )	0	10,200
	23	Total liabilities (add lines 17 through 22).........	9,393	10,200
		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........	43,612	43,612
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	21,675,609	25,180,476
	30	Total net assets or fund balances (see instructions).....	21,719,221	25,224,088
	31	Total liabilities and net assets/fund balances (see instructions).	21,728,614	25,234,288

(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.)
1 a	K-1 Short Term Capital Gains	P
b	K-1 Long Term Capital Gains	P
c	Vanguard 500 Index Fund ADM	P
d	K-1 1231 Gains	P
e

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	2,460,408
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	198,907

(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	1,102,620	20,776,764	0.053070
2016	1,093,980	19,901,493	0.054970
2015	1,072,677	21,647,262	0.049553
2014	984,167	19,794,870	0.049718
2013	936,584	18,256,577	0.051301

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	54,949
	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	54,949
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	54,949
6	Credits/Payments:

a	2018 estimated tax payments and 2017 overpayment credited to 2018	6a	29,828
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	5,000
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............	7	34,828
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.	8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......	9	20,121
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

(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
Norman Bernstein	Chairman 0.00	0	0	0
5301 Wisconsin Avenue NW Suite 600 Washington,DC20015
Diane Bernstein	President Emeritus 0.00	0	0	0
5301 Wisconsin Avenue NW Suite 600 Washington,DC20015
Susan Amy Bernstein	Director 0.00	0	0	0
21 Alpine Street Cambridge,MA02138
Elizabeth B Norton	Vice President 0.00	0	0	0
3725 Harrison Street Washington,DC20015
Joshua Benjamin Bernstein	President 0.00	0	0	0
5301 Wisconsin Avenue NW Suite 600 Washington,DC20015
Kelly Lynch	Executive Director and Tre 0.00	0	0	0
3617 Fessenden Street NW Washington,DC20008
Celia Ellen Bernstein	Director 0.00	0	0	0
513 Almar Avenue Pacific Palisades,CA90272
Marianne Bernstein Kalb	Director 0.00	0	0	0
62 Livingston Street New Haven,CT06511
Nancy Bernstein Schoen	Director 0.00	0	0	0
1425 Wightman Street Pittsburgh,PA15217
Robert Schoen	Director 0.00	0	0	0
1425 Wightman Street Pittsburgh,PA15217
Robert Kalb	Director 0.00	0	0	0
62 Livingston Street New Haven,CT06511
Lisa Bernstein	Director 0.00	0	0	0
5301 Wisconsin Avenue NW Suite 600 Washington,DC20015
Robert Norton	Director 0.00	0	0	0
3725 Harrison Street Washington,DC20015

		(a) Corpus	(b) Years prior to 2017	(c) 2017	(d) 2018
1 Distributable amount for 2018 from Part XI, line 7					1,468,196
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......	55,238
b From 2014......	27,939
c From 2015......	19,916
d From 2016......	109,943
e From 2017......	94,362
fTotal of lines 3a through e........		307,398
4Qualifying distributions for 2018 from Part
XII, line 4: $ 1,438,086
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.....					1,438,086
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2018.		30,110			30,110
(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		277,288
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) ...		25,128
9Excess distributions carryover to 2019. Subtract lines 7 and 8 from line 6a ......		252,160
10 Analysis of line 9:
a Excess from 2014....	27,939
b Excess from 2015....	19,916
c Excess from 2016....	109,943
d Excess from 2017....	94,362
e Excess from 2018....

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

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
Akko Center for Arts & Technology (NICAT) 1815 Metropolitan St Pittsburgh,PA15233		501(c)(3)	Charitable	25,000
Alice Fergeson Foundation 2001 Bryan Point Rd Accokeek,MD20607		501(c)(3)	Charitable	10,000
American Friends of the Umm El-Fahem Museum of Contemporary Art 7 Times Square 40th Floor New York,NY10036		501(c)(3)	Charitable	20,000
American Jewish Joint Distribution Committee 711 Third Avenue New York,NY10017		501(c)(3)	Charitable	10,000
Anti Defamation League 1100 Connecticut Ave NW Suite 1020 Washington,DC20036		501(c)(3)	Charitable	10,000
Arena Stage 907 6th Street SW Washington,DC20024		501(c)(3)	Educational	50,000
Bread For The City Inc 1525 7th Street NW Washington,DC20001		501(c)(3)	Charitable	55,000
Bright Beginnings Inc 128 M Street NW Washington,DC20001		501(c)(3)	Charitable	25,000
Building Bridges Across the River TheARC 1901 Mississippi Ave SE Washington,DC20020		501(c)(3)	Charitable	20,000
Capital Camps 133 Rollins Ave Unit 4 Rockville,MD20852		501(c)(3)	Charitable	25,000
Centro Nia 1420 Columbia Rd NW Washington,DC20009		501(c)(3)	Charitable	25,000
Charles E Smith Jewish Day School 1901 B Jefferson Street Rockville,MD20852		501(c)(3)	Charitable	25,000
Children's Law Center 616 H St NW 300 Washington,DC20001		501(c)(3)	Charitable	40,000
Citybridge Education 600 New Hampshire Ave NW Washington,DC20037		501(c)(3)	Charitable	10,000
Clean Water Fund 1444 Eye Street NW Suite 400 Washington,DC20005		501(c)(3)	Charitable	10,000
Community Foundation 1325 G Steet NW Suite 480 Washington,DC20005		501(c)(3)	Charitable	25,000
Community of Hope 4 Atlantic Street SW Washington,DC20032		501(c)(3)	Charitable	25,000
DC Fiscal Policy Institute 820 First Street NE Suite 750 Washington,DC20002		501(c)(3)	Charitable	5,000
DC Jewish Community Center 1529 16th Street NW Washington,DC20036		501(c)(3)	Charitable	30,000
Federal City Council 1156 15th Street NW Suite 600 Washington,DC20005		501(c)(3)	Charitable	45,000
From K-1s Various Washington,DC20009			Charitable	116
J Street Education Fund PO Box 66073 Washington,DC20035		501(c)(3)	Educational	50,000
Jewish Federation of Greater Washington 6101 Montrose Rd Rockville,MD20852		501(c)(3)	Charitable	50,000
Jewish Funders Network 150 W 30th Street Suite 900 New York,NY10001		501(c)(3)	Charitable	50,000
Jewish Social Service Agency 200 Wood Hill Rd Rockville,MD20850		501(c)(3)	Charitable	35,000
Jewish Theological Seminary of America 3080 Broadway New York,NY10027		501(c)(3)	Educational	10,000
Jubilee Housing 1640 columbia Rd NW Washington,DC20009		501(c)(3)	Charitable	25,000
Martha's Table 2114 14th Street NW Washington,DC20009		501(c)(3)	Charitable	275,000
Mary's Center 2333 Ontario Road NW Washington,DC20009		501(c)(3)	Charitable	75,000
Medstar Georgetown University Hospital 3800 Reservoir Road NW Washington,DC20007		501(c)(3)	Charitable	70,000
N Street Village 1333 N Street NW Washington,DC20005		501(c)(3)	Charitable	10,000
New Israel Fund 1101 14th Street NW Washington,DC20001		501(c)(3)	Charitable	25,000
PEF Israel Endowment Funds 630 Third Ave Suite 1501 New York,NY10017		501(c)(3)	Charitable	10,000
Planned Parenthood of Metropolitan Washington DC 1225 4th Street NE Washington,DC20002		501(c)(3)	Charitable	10,000
Quisset Harbor Preservation Trust PO Box 391 Falmouth,MA02541		501(c)(3)	Charitable	10,000
Raise DC 1325 G Steet NW Suite 480 Washington,DC20005		501(c)(3)	Charitable	10,000
Smithsonian American Art Museum PO Box 37012 Washington,DC20016		501(c)(3)	Charitable	10,000
Stable 336 Randolph Place NE Washington,DC20002		501(c)(3)	Charitable	25,000
The Smile and Olive Foundation 2407 15th Street NW Apt 403 Washington,DC20009		501(c)(3)	Charitable	3,500
Tzedek DC 4340 Connecticut Ave NW Washington,DC20008		501(c)(3)	Charitable	25,000
WAMU 885 4401 Connecticut Ave NW Washington,DC20008		501(c)(3)	Charitable	10,000
Whitman-Walker Health 1342 Florida Avenue NW Washington,DC20009		501(c)(3)	Charitable	10,000
Woolly Mammoth Theater Company 641 D Street NW Washington,DC20004		501(c)(3)	Charitable	25,000
Total ................................. 3a				1,313,616

(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				198,907
b				1,986,261
c				273,225
d				2,015
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			198,907
b			1,986,261
c			273,225
d			2,015
e

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

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 ...........			14	8,176
4 Dividends and interest from securities....			14	535,903
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....	531390	22,678
6 Net rental income or (loss) from personal property
7 Other investment income.....			14	250,346
8 Gain or (loss) from sales of assets other than inventory ............			18	2,460,408
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)..		22,678		3,254,833	0

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


(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

bApproved for future payment

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

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.

Name of organization Diane & Norman Bernstein Foundation Inc

Part I	Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	Norman Bernstein 5301 Wisconsin Ave NW No 500 Washington, DC20015	$ 1,000,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	Norman Bernstein 5301 Wisconsin Ave NW No 500 Washington, DC20015	$ 179,246	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
3	Norman Bernstein 5301 Wisconsin Ave NW No 500 Washington, DC20015	$ 3,690,260	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

Name of organization Diane & Norman Bernstein Foundation Inc		Employer identification number 52-6047356

Part II	Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
3	Fleetwood Land Rental Property	$ 22,940,790	2018-08-22
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2018)


Name of organization Diane & Norman Bernstein Foundation Inc			Employer identification number 52-6047356
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

Name of Stock	End of Year Book Value	End of Year Fair Market Value
FPA Crescent Fund	1,345,941	1,348,546
T. Rowe Price	1,129,912	1,084,427
Vanguard 500 Index Fund	814,192	853,533
Causeway International Fund	1,064,614	1,157,577
Artisan International Fund	1,065,531	1,252,648

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Adage Capital Partners	AT COST	7,047,545	7,044,355
Adamas Partners, LP	AT COST	2,031,268	2,032,812
Lone Juniper LP	AT COST	1,477,086	1,477,104
Adamas Opportunities, LP (1 YR)	AT COST	1,373,611	1,373,051
Davidson Kempner (DKIP)	AT COST	1,044,126	1,043,537
Investors Partner Fund	AT COST	541,880	178,372
Adamas Opportunities LP (3 YR)	AT COST	398,874	398,874
Contegria Fund I LLC	AT COST	466,142	537,449
Commonfund Capital PTR 2000 LP	AT COST	163,017	115,375
Commonfund Capital PTRS III LP	AT COST	98,235	163,720
1776 Seed Investors LP	AT COST	147,088	145,420
Landmark Equity PTRS XIII LLC	AT COST	114,123	112,015
Camber Creek Fund VI LP	AT COST	221,724	240,693
Prudent Capital III	AT COST	47,875	4,130
Core Capital Partners II	AT COST	42,468	459,782
Justice Housing Partners LP	AT COST	200,000	200,000

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Office expenses	2,315	2,083	232
Miscellaneous	20,560	18,504	2,056
K-1 portfolio deductions	180,392	180,392	0
K-1 other deductions	83,243	83,243	0
K-1 nondeductible expenses	11,227	0	0
K-1 foreign taxes paid	6,729	6,729	0
Insurance expense	850	765	85
Bank service charge	3,008	2,707	301
Training	190	171	19

Description	Revenue And Expenses Per Books	Net Investment Income
K-1 Ordinary Income	56,720	56,720
K-1 Other Income	133,156	133,156
K-1 Rental	-2,123	-2,123
K-1 Royalties	9,330	9,330
K-1 Interest Income	50,054	50,054
DC Refund - 2016 Notice	3,209	3,209

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