TY 2020 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

2020

Open to Public Inspection

For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020

Name of foundation
Max and Selma Kupferberg Family Foundation

% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address)501 Silverside Rd
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377

A Employer identification number

06-1636082

B Telephone number (see instructions)

(800) 839-1754

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

$8,754,074J 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	(c) Adjusted net 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	2,840		2,840
4	Dividends and interest from securities...	242,797		242,797
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-162,062
b	Gross sales price for all assets on line 6a 3,455,973
7	Capital gain net income (from Part IV, line 2)...			0
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).......		43,700	609
12	Total. Add lines 1 through 11........	127,275		246,246
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		7,150	0	0	7,150
c	Other professional fees (attach schedule)....		56,254	53,254		3,000
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		1,200	1,200
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		20,236	262		19,644
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	84,840		54,716	0	29,794
25	Contributions, gifts, grants paid.......	388,000				388,000
26	Total expenses and disbursements. Add lines 24 and 25	472,840		54,716	0	417,794
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-345,565
b	Net investment income (if negative, enter -0-)			191,530
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2020)

Form 990-PF (2020)

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.............
	2	Savings and temporary cash investments.........	302,124	406,314	406,314
	3	Accounts receivable 2,294
		Less: allowance for doubtful accounts		2,294	2,294
	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).......	4,172,321	3,504,475	4,548,218
	c	Investments—corporate bonds (attach schedule).......	3,342,575	3,716,855	3,773,783
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	173,077	15,693	23,465
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	1,099
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	7,991,196	7,645,631	8,754,074
	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 FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	8,409,121
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	-417,925	7,645,631
	29	Total net assets or fund balances (see instructions).....	7,991,196	7,645,631
	30	Total liabilities and net assets/fund balances (see instructions).	7,991,196	7,645,631

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 29 (must agree with end-of-year figure reported on prior year’s return) ...............

7,991,196

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

-345,565

Other increases not included in line 2 (itemize) bullet

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

7,645,631

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 29 .

7,645,631

Form 990-PF (2020)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	Publicly-traded Securities
b	Passthrough K1 Capital Gain/(Loss)
c	Sec 751 Gain on Sale of Ptshp Reclass
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	3,455,973	3,468,035	-12,062
b			33
c			-52,871
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			-12,062
b
c
d
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	-64,900
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

SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE

1 Reserved

(a) Reserved	(b) Reserved	(c) Reserved	(d) Reserved

Reserved...........................

Reserved,..........................

Form 990-PF (2020)

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	Reserved................................	1	2,662
c	All other domestic foundations enter 1.39% 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
3	Add lines 1 and 2...........................	3	2,662
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	2,662
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	4,359
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	4,359
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	1,697
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax1,697	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 the instructions

for the 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

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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?........

Yes

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

Yes

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 2020 or the taxable year beginning in 2020? 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 (2020)

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

The books are in care of bullet

Foundation Source Telephone no. bullet

(800) 839-1754

Located at bullet

501 Silverside Road Suite 123WilmingtonDE ZIP+4 bullet

198091377

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 2020, 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 2020?.............

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 2020, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2020?.............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 2020 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 2020.)..................

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 2020?

Form 990-PF (2020)

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
Rhoda Kupferberg Joss	Trustee 1.0	0	0	0
501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	0	0	0
Saul Kupferberg	Trustee 1.0	0	0	0
501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	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










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

Form 990-PF (2020)

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
Neuberger Berman bd llc	Investment mgmt	53,254
1290 avenue of the americas NEW YORK,NY101040001	Investment mgmt	53,254

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 (2020)

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

8,020,910

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

563,388

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

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

8,584,298

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

8,584,298

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

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

128,764

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

8,455,534

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

422,777

Part XI

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

and do not complete this part.)

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

422,777

Tax on investment income for 2020 from Part VI, line 5......

2,662

Income tax for 2020. (This does not include the tax from Part VI.)...

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

2,662

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

420,115

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

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

420,115

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

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

420,115

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 ..........

417,794

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

417,794

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

417,794

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 (2020)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(c) 2019	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7				420,115
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......			410,141
b Total for prior years:2018, 2017, 2016
3 Excess distributions carryover, if any, to 2020:
a From 2015......
b From 2016......
c From 2017......
d From 2018......
e From 2019......
fTotal of lines 3a through e........
4Qualifying distributions for 2020 from Part
XII, line 4: $ 417,794
a Applied to 2019, but not more than line 2a			410,141
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2020 distributable amount.....				7,653
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2020.
(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 ..........
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........				412,462
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) .......
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2016....
b Excess from 2017....
c Excess from 2018....
d Excess from 2019....
e Excess from 2020....	0

Form 990-PF (2020)

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 2020, 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) 2020	(b) 2019	(c) 2018	(d) 2017	(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).)

NONE

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 (2020)

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
AMERICAN CIVIL LIBERTIES UNION FOUNDATION INC 125 BROAD ST 18TH FLOOR NEW YORK,NY10004	N/A	PC	General & Unrestricted	1,000
AMERICAN JEWISH JOINT DISTRIBUTION COMMITTEE INC 220 E 42ND ST STE 400 NEW YORK,NY10017	N/A	PC	General & Unrestricted	500
AMNESTY INTERNATIONAL OF THE USA INC 311 43RD ST 7TH FL NEW YORK,NY10036	N/A	PC	General & Unrestricted	500
BELMONT CHILD CARE ASSOCIATION INC 2150 HEMPSTEAD TPKE BELMONT PARK ELMONT,NY11003	N/A	PC	General & Unrestricted	1,000
CALVARY HOSPITAL INC 1740 EASTCHESTER RD BRONX,NY10461	N/A	PC	General & Unrestricted	7,500
CENTER FOR BOOKS ARTS INCORPORATED 1974 28 W 27TH ST FL 3 NEW YORK,NY10001	N/A	PC	General & Unrestricted	1,000
CROHNS AND COLITIS FOUNDATION OF AMERICA 3010 WESTCHESTER AVE PURCHASE,NY10577	N/A	PC	General & Unrestricted	500
CSC REPERTORY LTD 136 E 13TH ST NEW YORK,NY10003	N/A	PC	General & Unrestricted	500
EMERSON HOSPITAL 133 ORNAC CONCORD,MA01742	N/A	PC	General & Unrestricted	1,000
EQUAL JUSTICE INITIATIVE 122 COMMERCE ST MONTGOMERY,AL36104	N/A	PC	General & Unrestricted	1,000
FOOTSTEPS INC 114 JOHN ST UNIT 930 NEW YORK,NY10272	N/A	PC	General & Unrestricted	1,500
FREEDOM FROM RELIGION FOUNDATION INC PO BOX 750 MADISON,WI53701	N/A	PC	General & Unrestricted	500
HANDEL AND HAYDN SOCIETY 9 HARCOURT ST STE 101 BOSTON,MA02116	N/A	PC	General & Unrestricted	15,000
HANDEL AND HAYDN SOCIETY 9 HARCOURT ST STE 101 BOSTON,MA02116	N/A	PC	Charitable Event	2,500
HIAS INC 411 5TH AVE 10TH FL NEW YORK,NY10016	N/A	PC	General & Unrestricted	500
LOUIS ARMSTRONG HOUSE MUSEUM 3456 107TH ST CORONA,NY11368	N/A	PC	Charitable Event	5,000
LOUIS ARMSTRONG HOUSE MUSEUM 3456 107TH ST CORONA,NY11368	N/A	PC	General & Unrestricted	5,000
MUSEUM OF SCIENCE 1 SCIENCE PARK BOSTON,MA02114	N/A	PC	General & Unrestricted	1,000
NATIONAL ORGANIZATION FOR RARE DISORDERS INC 55 KENOSIA AVE DANBURY,CT06810	N/A	PC	General & Unrestricted	2,500
NEW YORK PUBLIC RADIO 160 VARICK ST NEW YORK,NY10013	N/A	PC	General & Unrestricted	1,000
PATIENT AIRLIFT SERVICES 7110 REPUBLIC AIRPORT STE 202 FARMINGDALE,NY11735	N/A	PC	Charitable Event	5,000
PATIENT AIRLIFT SERVICES 7110 REPUBLIC AIRPORT STE 202 FARMINGDALE,NY11735	N/A	PC	General & Unrestricted	75,000
PLANNED PARENTHOOD FEDERATION OF AMERICA INC 123 WILLIAMS ST 10TH FL NEW YORK,NY10038	N/A	PC	General & Unrestricted	2,500
PLANNED PARENTHOOD LEAGUE OF MASSACHUSETTS INC 1055 COMMONWEALTH AVE BOSTON,MA02215	N/A	PC	General & Unrestricted	5,000
PLANNED PARENTHOOD OF GREATER NEW YORK INC 26 BLEECKER ST NEW YORK,NY10012	N/A	PC	General & Unrestricted	5,000
QUEENS BOTANICAL GARDEN SOCIETY INC 4350 MAIN ST FLUSHING,NY11355	N/A	PC	Charitable Event	5,000
QUEENS BOTANICAL GARDEN SOCIETY INC 4350 MAIN ST FLUSHING,NY11355	N/A	PC	General & Unrestricted	5,000
QUEENS BOTANICAL GARDEN SOCIETY INC 4350 MAIN ST FLUSHING,NY11355	N/A	PC	Capital Campaign for the New Education Center	5,000
QUEENS COLLEGE FOUNDATION INC 6530 KISSENA BLVD FLUSHING,NY11367	N/A	PC	General Operating Support for the Kupferberg Center for the arts	5,000
QUEENS COLLEGE FOUNDATION INC 6530 KISSENA BLVD FLUSHING,NY11367	N/A	PC	Charitable Event	5,000
QUEENS COLLEGE FOUNDATION INC 6530 KISSENA BLVD FLUSHING,NY11367	N/A	PC	Programming Support, General Operating Support, Kupferberg Arts Incubator Project, Queens 2022 Project, and The Selma and Max Kupferberg Endowment fund for the Arts	200,000
RAMAPO FOR CHILDREN INC PO BOX 266 RHINEBECK,NY12572	N/A	PC	Summer Camp Scholarship fund	2,500
RED BULL THEATER INC 191 7TH AVE APT 2S NEW YORK,NY10011	N/A	PC	General & Unrestricted	500
ROSIES PLACE INC 31 BOWKER ST BOSTON,MA02114	N/A	PC	General & Unrestricted	500
SHELTERING ARMS CHILDREN AND FAMILY SERVICES INC 25 BROADWAY 18TH FL NEW YORK,NY10004	N/A	PC	General & Unrestricted	10,000
SOUTHERN POVERTY LAW CENTER INC 400 WASHINGTON AVE MONTGOMERY,AL36104	N/A	PC	General & Unrestricted	1,500
THE NATIONAL ADRENAL DISEASES FOUNDATION INC PO BOX 566 LAKE ZURICH,IL60047	N/A	PC	General & Unrestricted	1,000
UNITARIAN UNIVERSALIST SERVICE COMMITTEE INC 689 MASSACHUSETTS AVE CAMBRIDGE,MA02139	N/A	PC	General & Unrestricted	1,000
UNIVERSITY OF MASSACHUSETTS FOUNDATION INC 1 BEACON ST 31ST FL BOSTON,MA02108	N/A	PC	WUMB Radio at UMass Boston	1,000
VISITING NURSE SERVICE OF NEW YORK 107 EAST 70TH ST 5TH FLOOR NEW YORK,NY10021	N/A	SO III FI	General & Unrestricted	1,000
WGBH EDUCATIONAL FOUNDATION ONE GUEST ST BOSTON,MA02135	N/A	PC	General & Unrestricted	1,000
WNET 825 8TH AVENUE NEW YORK,NY10019	N/A	PC	General & Unrestricted	1,500
Total ................................. 3a				388,000

bApproved for future payment

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

Form 990-PF (2020)

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 ...........			14	2,840
4 Dividends and interest from securities....			14	242,797
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	-162,062
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aK-1 Inc/Loss	525990	-9,780	14	609
bSec 751 Gain on Sale of Ptshp	525990	52,871
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		43,091		84,184

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

127,275

(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 (2020)

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 instructions. 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 (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2020 AccountingFeesSchedule

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Tax Return Preparation/Review	7,150			7,150

- TIN:

TY 2020 CompensationExplanation

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Person Name	Explanation
Saul Kupferberg	*Saul Kupferberg, Trustee of Max and Selma Kupferberg Family Foundation (the "Foundation"), is a board member at the manufacturing firm of Kepco, Inc., a disqualified person which provides administrative services to the Foundation. During the taxable year ending December 31, 2020, the Foundation paid $3,000 for administrative services rendered by such disqualified person as reported in Form 990-PF, Part I, Line 16c. Such manufacturing firm billed the Foundation at or below the rate it charges its other clients.

Person Name

Explanation

Saul Kupferberg

*Saul Kupferberg, Trustee of Max and Selma Kupferberg Family Foundation (the "Foundation"), is a board member at the manufacturing firm of Kepco, Inc., a disqualified person which provides administrative services to the Foundation. During the taxable year ending December 31, 2020, the Foundation paid $3,000 for administrative services rendered by such disqualified person as reported in Form 990-PF, Part I, Line 16c. Such manufacturing firm billed the Foundation at or below the rate it charges its other clients.

- TIN:

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

TY 2020 DepreciationSchedule

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Name of Bond	End of Year Book Value	End of Year Fair Market Value
3M CO MTN - 2.250% - 03/15/202	24,984	26,110
AIR PRODUCTS AND CHEMICALS - 1	26,102	26,058
AMC NETWORK - 5.000% - 04/01/2	40,650	40,650
AMERICAN EXPRESS - 3.400% - 02	45,048	48,838
AMERICAN EXPRESS - 3.700% - 11	25,776	25,639
AMERICAN EXPRESS CO BOND - 4.9	51,349	48,669
AMGEN INC NOTE - 2.650% - 05/1	25,164	25,751
AMPHENOL CORP - 3.125% - 09/15	41,136	40,642
ANALOG DEVICES INC - 2.500% -	25,192	25,451
APPLE INC - 2.700% - 05/13/202	5,027	5,177
APX GROUP - 7.875% - 12/01/202	20,000	20,050
ARES CAP CORP - 4.250% - 03/01	39,848	43,360
AUTODESK INC - 3.500% - 06/15/	45,696	50,726
BALL CORP - 4.000% - 11/15/202	41,200	42,600
BALL CORP - 4.875% - 03/15/202	50,063	50,828
BALL CORP NTS - 5.000% - 03/15	31,650	31,388
BANK AMER CORP BOND PERPETUAL	35,441	36,794
BANK NEW YORK MELLON - 3.700%	15,445	15,520
BERRY PLASTICS - 5.125% - 07/1	18,765	18,225
BNY MELLON PERPETUAL BOND - 4.	36,031	35,036
BOARDWALK PIPELINES - 3.375% -	29,541	31,302
BOEING CO - 4.875% - 05/01/202	39,728	39,897
BOSTON SCIENTIFIC CORP - 3.450	25,548	27,081
CBS OUTDOOR AMERS CAP LLC BOND	31,575	30,375
CDW LLC - 5.500% - 12/01/2024	74,799	78,259
CDW LLC / CDW FIN CORP - 4.125	41,168	41,847
CENTENE CORP - 4.750% - 01/15/	41,150	41,049
CHARTER COMM - 4.500% - 02/01/	53,356	55,460
CIT GROUP INC - 5.000% - 08/15	40,898	40,280
CITIGROUP INC - 1.875% - 03/31	29,972	30,897
CITIGROUP INC BOND PERPETUAL -	35,000	35,919
CONSTELLATION BRANDS - 3.150%	7,426	8,909
CONSTELLATION BRANDS INC - 3.7	5,113	5,054
CORNING INC - 2.900% - 05/15/2	26,042	25,717
CROWN CASTLE INT - 1.350% - 07	44,940	45,935
DISNEY WALT CO - 2.450% - 03/0	25,646	25,648
EBAY INC NOTE - 3.800% - 03/09	10,476	10,374
ELANCO ANIMAL HEALTH INC - 4.2	85,356	87,399
EQUIFAX INC - 3.554% - 08/15/2	40,140	40,123
EQUINIX INC - 2.900% - 11/18/2	49,928	54,669
EQUINIX INC - 5.375% - 05/15/2	5,063	5,450
EXPEDIA INC - 4.500% - 08/15/2	48,518	49,136
GENERAL MLS INC NOTE - 2.600%	24,997	25,954
GLOBAL PAYMENTS INC NOTE - 2.6	45,066	48,190
HCA INC NOTE - 4.750% - 05/01/	42,883	43,620
HEALTHSOUTH CORP - 5.125% - 03	51,100	50,073
IHS MARKIT LTD - 3.625% - 05/0	44,892	49,085
INTUIT CO - 1.350% - 07/15/202	59,944	61,389
INTUIT NOTE - 0.650% - 07/15/2	25,174	25,209
JB HUNT TRANSPRT - 3.850% - 03	46,345	49,037
JP MORGAN CHASE - 4.600% - 12/	40,000	41,300
JP MORGAN CHASE - 5.300% - 12/	67,799	64,786
JP MORGAN CHASE PERP SR NT - 6	62,985	61,749
KIMBERLY CLARK CORP - 2.400% -	25,315	25,619
KIMBERLY-CLARK CORP - 1.050% -	25,192	25,338
KRAFT HEINZ FOODS CO - 3.001%	40,050	39,905
LENNAR CORP - 4.750% - 11/29/2	53,269	53,181
MCDONALDS CORP - 1.450% - 09/0	25,672	25,856
MICROSOFT CORP - 2.375% - 06/0	40,131	41,806
MICROSOFT CORP - 2.650% - 11/0	25,379	26,039
MONDELEZ INTL INC - 2.125% - 0	26,080	25,966
NETFLIX INC - 5.500% - 02/15/2	94,712	94,162
NETFLIX INC - 5.750% - 03/01/2	42,900	44,800
NORTHERN TR CORP - 4.600% - 10	47,138	48,038
ORACLE CORP NOTE CALL - 1.900%	24,902	25,252
PHILLIPS 66 NOTE - 3.121% - 02	50,000	50,006
PNC FIN - 6.750% - 12/31/2049	39,113	35,866
PROCTER AND GAMBLE CO - 2.150%	24,964	25,785
PROGRESSIVE CORP - 5.375% - 03	20,000	20,850
SBA COMMUNICATIONS - 4.000% -	75,937	75,750
SBA COMMUNICATIONS CORP - 4.87	40,500	41,029
SCHWAB CHARLES CORP PERPETUAL	41,144	40,700
SERVICE CORP INTL NOTE - 4.625	79,687	79,874
STARBUCKS CORP - 2.700% - 06/1	24,857	25,796
STATE ST CORP - 5.625% - 12/15	25,106	26,370
STRYKER CORP NOTE - 2.625% - 0	24,996	25,046
T MOBILE USA - 4.000% - 04/15/	51,750	51,500
T MOBILE USA - 6.500% - 01/15/	42,865	41,400
TARGA RES PARTNERS - 4.250% -	73,687	75,375
THE ADT CORPORATION NOTE - 4.1	40,900	42,646
TOLL BROS FIN CORP - 4.875% -	55,563	56,125
TOYOTA MOTOR CREDIT CORP - 2.7	24,337	26,178
TRUIST FINL CORP -G BOND PERPE	30,545	30,450
TRUIST FINL CORP TIER I PERP B	31,640	31,500
TWITTER INC BOND - 0.010% - 09	22,791	25,451
U.S. BANCORP PERP - 5.125% - 1	83,384	79,799
UNITED PARCEL SERVICE - 2.350%	24,965	25,671
UNITED RENTALS NORTH AMER INC	75,980	78,562
VERIZON COMMUNICATIONS INC - 4	36,970	38,730
VERIZON COMMUNICATIONS INC NOT	25,080	25,196
VISHAY INTERTECHNOLOGY INC - 2	27,750	31,248
VULCAN MATERIALS - 0.896% - 03	65,008	65,027
WEC ENERGY GROUP, INC FLOAT -	38,740	34,299
WELLS FARGO & CO NEW DEPOSITAR	27,781	28,344
WELLS FARGO CO - 3.069% - 01/2	25,738	25,714
YUM BRANDS INC - 3.875% - 11/0	40,200	41,850
ZIMMER BIOMET - 2.914% - 03/19	7,002	7,000

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ACTIVISION BLIZZARD INC	14,560	28,784
ADAMS DIVERSIFIED EQUITY FUND	7,790	8,645
AIR PRODS & CHEM INC	21,822	30,054
ALEXION PHARMACEUTICALS, INC	15,721	22,655
ALLIANT CORP	24,090	30,918
ALLIANZGI ARTIFICIAL INTELLIGE	4,062	5,274
ALPHABET INC CL A	24,799	50,827
ALPHABET INC CL C	10,881	21,023
ALPINE GLOBAL PREMIER PROP FD	3,250	2,630
AMAZON COM	38,573	65,139
AMEREN CORPORATION	27,670	39,030
AMERICAN ELECTRIC POWER INC	23,730	24,981
AMERICAN HOMES 4 RENT	33,675	47,790
AMERICAN TOWER REIT INC	53,996	78,112
AMETEK INC	8,654	12,094
AMPHENOL CORPORATION	19,726	32,693
ANALOG DEVICES INC	19,126	29,546
ANAPLAN INC	20,913	30,536
APPLE INC	32,446	107,611
ASHLAND GLOBAL HOLDINGS	50,443	55,836
ASML HOLDING NV NY REG SHS	3,880	9,754
ASSURANT INC	20,272	27,244
ASTRAZENECA	21,468	29,994
BANK OF AMERICA CORP	28,047	34,099
BARINGS GLBL SHORT DURATION HI	9,023	7,545
BAXTER INTERNATIONAL INC	23,573	21,264
BECTON DICKINSON & CO	33,017	31,278
BEST BUY INC	11,390	19,958
BLACKROCK GLOBAL FLOATING RATE	3,615	3,537
BLACKROCK INC	16,120	30,305
BOSTON SCIENTIFIC	25,133	28,760
BRISTOL-MYERS SQUIBB CO	15,960	18,609
BROOKFIELD ASSET MANAGEMENT CL	52,905	93,682
CAMDEN PPTY TR	19,156	19,984
CATERPILLAR INC	19,938	27,303
CDW CORP	10,000	23,063
CENTERPOINT ENERGY	22,100	27,050
CHUBB LIMITED	23,387	30,784
CME GROUP, INC	32,190	39,687
COOPER COMPANIES INC	11,230	14,533
CORNING INC	28,989	34,200
COSTCO WHOLESALE CORPORATION	17,259	39,562
CROWN CASTLE INTL	59,812	81,027
CVS CAREMARK CORP	26,056	27,320
DANAHER CORP	7,667	13,328
DEBT STRATEGY FUND	5,582	5,225
DIGITAL RLTY TR INC	15,284	17,299
DOMINION ENERGY INC	21,775	22,560
DOUGLAS EMMETT INC	15,752	16,137
ENBRIDGE INC	29,041	23,033
ENTERGY CORP	7,629	7,488
EQUIFAX INC	26,850	43,389
EQUINIX, INC	53,504	84,986
EQUITY LIFESTYLE PRP	34,643	49,548
EQUITY RESIDENTIAL PPTYS TR	26,965	29,403
ESSEX PRTY TR INC	24,661	25,404
EXPEDIA INC	33,139	33,100
FACEBOOK INC	32,538	50,535
FIDELITY HIGH INCOME	28,112	28,328
FISERV INC	17,737	19,926
GABELLI DIVIDEND & INCOME TRUS	1,553	2,146
GEN DYNAMICS CP	18,775	14,882
GILEAD SCIENCES INC	19,683	17,187
HEALTHCARE TRUST OF AMERICA IN	12,870	13,495
HEALTHPEAK PROPERTIES INC	29,670	26,935
HOME DEPOT INC	62,832	77,030
HUMANA INC	15,546	24,206
ICU MEDICAL, INC	15,853	19,304
JOHNSON & JOHNSON	52,081	64,526
JP MORGAN CHASE	66,559	95,302
KELLOGG CO	25,750	24,892
KEURIG DR PEPPER INC	33,963	36,800
L3HARRIS TECHNOLOGIES	37,302	35,914
LAM RESEARCH CORP	3,951	7,084
LEGGETT PLATT INC	17,124	22,150
LOCKHEED MARTIN CORP	24,728	32,658
M F S INTRMDT INC TR	7,593	7,620
MACQUARIE/FIRST TRUST GLOBAL I	3,204	2,511
MCDONALD'S CORP	48,745	71,884
MEDTRONIC PLC	38,104	49,785
MICROSOFT CORP	56,350	132,339
MID-AMERICA APT COMMUNITIES IN	25,158	31,926
MONDELEZ INTERNATIONAL INC	36,194	43,853
NATIONAL RETAIL PROPERTIES INC	20,641	20,460
NEUBERGER BERMAN REAL ESTATE S	5,317	6,615
NEW YORK COMNTY BANCORP INC	259,934	137,149
NEWMONT GOLDCORP CORPORATION	20,224	17,967
NEXTERA ENERGY, INC	46,657	98,134
NIKE INC-CL B	27,378	45,978
NISOURCE INC 6.5% SER B PFD	27,600	28,490
NORFOLK SOUTHERN CORP	5,257	5,940
NOVARTIS AG ADR	18,099	18,886
NUTRIEN LTD	13,776	16,085
NVENT ELECTRIC PLC	39,998	39,593
O'REILLY AUTOMOTIVE INC	12,220	13,577
PAYCHEX	20,377	32,613
PAYPAL HOLDINGS, INC	6,318	23,420
PEMBINA PIPELINE CORP CANADA	17,872	11,830
PIMCO INCOME CL A	10,027	9,763
PNC FINANCIAL GROUP INC	20,891	22,350
PNC FINANCIAL SERVICES PFD SER	19,771	18,746
PPG INDUSTRIES INC	10,914	15,864
PROCTER GAMBLE CO	34,547	45,221
PROLOGIS	51,391	80,923
PUBLIC STORAGE INC	22,774	35,794
REGENCY CENTERS CORP	21,552	16,367
REGENERON PHARMACEUTICALS INC	7,447	7,247
REXFORD INDUSTRIAL REALTY INC	14,189	20,233
RIO TINTO PLC SPONSORED ADR	19,286	37,610
S&P GLOBAL INC COM	33,547	46,022
SALESFORCE.COM	28,766	44,506
SERVICE NOW	13,846	30,274
SIEMENS AG	20,052	21,537
SIMON PPTY GROUP INC	22,733	22,343
SKYWORKS SOLUTIONS, INC	7,106	7,644
SL GREEN REALTY CORP	21,300	18,053
SPDR GOLD SHARES	12,156	13,377
SPOTIFY TECHNOLOGY SA	11,378	21,712
STARBUCKS CORP COM	5,644	8,024
STRYKER CORPORATION	7,326	11,027
TAIWAN SEMICONDUCTOR MFG CO LT	18,752	49,068
TEKLA HEALTHCARE INVESTORS	4,079	4,766
TELUS CORP	17,655	19,800
TEMPLETON DRAGON FUND	5,583	7,008
TEXAS INSTRUMENTS INC	17,912	36,929
THE COCA-COLA CO	11,041	12,339
THE GABELLI GLOBAL UTILITY & I	9,130	9,210
THERMO FISHER SCIENTIFIC INC	27,698	27,947
TRADEWEB MARKETS INC	13,650	20,296
TRI POINTE HOMES INC COM	8,107	10,781
UNILEVER PLC AMER	26,727	27,162
UNION PACIFIC	44,397	54,554
UNITEDHEALTH GROUP INC	17,057	31,561
USD CYRUSONE INC	39,660	44,402
UTZ BRANDS	16,704	28,678
VALERO ENERGY CORP	18,911	16,971
VERISK ANALYTICS, INC	7,607	19,721
VERIZON COMMUNICATIONS	19,626	23,500
VIRTU FINANCIAL INC	30,450	31,463
VISA INC	22,947	50,308
VOYA GLOBAL ADVANTAGE AND PR	891	875
WALT DISNEY HOLDINGS CO	17,166	24,459
WASTE MANAGEMENT INC	31,668	32,431
WATSCO INC	14,796	22,655
WELLS FARGO ADVANTAGE INCOME O	4,203	4,080
WELLTOWER INC.	15,286	15,961
WEX, INC	19,487	30,122
WEYERHAEUSER CO	19,304	23,404
WORKDAY INC	20,756	27,555

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BROOKFIELD INFRASTRUCTURE PART		15,693	23,465

- TIN:

TY 2020 OtherExpensesSchedule

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	19,332		19,332
Bank Charges	48	48
K-1 Exp BROOKFIELD INFRASTRUCT	446	135
K-1 Exp CEDAR FAIR LP	9
K-1 Exp ENERGY TRANSFER LP	87	79
K-1 Exp ENTERPRISE PRODUCTS PA	2
Postage/Delivery Service	62		62
State or Local Filing Fees	250		250

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Description	Revenue And Expenses Per Books	Net Investment Income
K-1 Inc/Loss BROOKFIELD INFRASTRUCTURE PARTNERS LP	247	247
K-1 Inc/Loss CEDAR FAIR LP	-1,371	-2
K-1 Inc/Loss ENERGY TRANSFER LP	-1,035	115
K-1 Inc/Loss ENTERPRISE PRODUCTS PARTNERS LP	-953	-83
K-1 Inc/Loss EQM MIDSTREAM PARTNERS LP	-18	18
K-1 Inc/Loss SHELL MIDSTREAM PARTNERS LP	-337	290
K-1 Inc/Loss WESTERN MIDSTREAM PARTNERS, LP	-5,704	24
Sec 751 Gain on Sale CEDAR FAIR LP	2,673
Sec 751 Gain on Sale ENERGY TRANSFER LP	11,113
Sec 751 Gain on Sale ENTERPRISE PRODUCTS PARTNERS	18,148
Sec 751 Gain on Sale SHELL MIDSTREAM PARTNERS LP	3,347
Sec 751 Gain on Sale WESTERN MIDSTREAM PARTNERS, L	15,825
sec 751 gain on sale EQM MIDSTREAM PARTN	1,765

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Administration of Foundation	3,000			3,000
Investment Management Services	53,254	53,254

- TIN:

TY 2020 TaxesSchedule

Name:

Max and Selma Kupferberg Family Foundation

EIN:

06-1636082

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Foreign Tax Paid	1,200	1,200