TY 2020 Form 990PF

- TIN:

Form990-PF
Click to see attachment

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
The Arnow Family Fund Inc

% David Arnow

Number and street (or P.O. box number if mail is not delivered to street address)675 Third Avenue 27th fl
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
New York, NY10017

A Employer identification number

13-3188773

B Telephone number (see instructions)

(212) 869-9700

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

$25,459,433J 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	1,713		1,713
4	Dividends and interest from securities...	205,416		205,416
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		926,607
b	Gross sales price for all assets on line 6a 7,555,674
7	Capital gain net income (from Part IV, line 2)...			869,268
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).......		246,437	164,622
12	Total. Add lines 1 through 11........	1,380,173		1,241,019
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........		1,487	0	0	1,487
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		126,646	119,146		7,500
17	Interest...............	4,876
18	Taxes (attach schedule) (see instructions)...		26,299	7,150
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		199,126	158,129		38,402
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	358,434		284,425	0	47,389
25	Contributions, gifts, grants paid.......	3,325,000				3,325,000
26	Total expenses and disbursements. Add lines 24 and 25	3,683,434		284,425	0	3,372,389
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-2,303,261
b	Net investment income (if negative, enter -0-)			956,594
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.........	895,323	1,956,089	1,956,089
	3	Accounts receivable 2,020
		Less: allowance for doubtful accounts		2,020	2,020
	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)	2,180,325	1,971,105	2,028,561
	b	Investments—corporate stock (attach schedule).......	5,016,501	4,483,475	6,244,341
	c	Investments—corporate bonds (attach schedule).......	2,345,349	2,225,534	2,326,857
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	9,348,949	9,389,963	12,901,565
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	19,786,447	20,028,186	25,459,433
	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 )		2,545,000
	23	Total liabilities (add lines 17 through 22).........	0	2,545,000
		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........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	19,786,447	17,483,186
	29	Total net assets or fund balances (see instructions).....	19,786,447	17,483,186
	30	Total liabilities and net assets/fund balances (see instructions).	19,786,447	20,028,186

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

19,786,447

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

-2,303,261

Other increases not included in line 2 (itemize) bullet

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

17,483,186

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 .

17,483,186

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	ACADIAN SUSTAINABLE EMERGING MKT EQUITY EX-FOS LLC	P	2017-06-30	2020-07-20
d	THE SILCHESTER INTL INV INTL VALUE EQUITY TRUST	P	2008-01-01	2020-12-04
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	5,073,375	4,706,217	367,158
b			504,924
c	1,053,409	1,056,227	-2,818
d	1,428,890	1,428,886	4
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69
(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
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	869,268
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	13,297
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	13,297
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	13,297
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	19,800
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	1,700
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	21,500
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	8,203
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax8,203	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 Click to see attachment

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

Yes

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

David Arnow Telephone no. bullet

(212) 869-9700

Located at bullet

675 THIRD AVENUE 27TH FLNew YorkNY ZIP+4 bullet

10017

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
Benjamin Arnow	VP 1.0	0	0	0
675 Third Avenue 27th fl New York,NY10017	VP 1.0	0	0	0
David Arnow	Dir, Pres 5.0	0	0	0
675 Third Avenue 27th fl New York,NY10017	Dir, Pres 5.0	0	0	0
Joshua Arnow	Dir, Sec 5.0	0	0	0
675 Third Avenue 27th fl New York,NY10017	Dir, Sec 5.0	0	0	0
Kathi Arnow	Dir 5.0	0	0	0
675 Third Avenue 27th fl New York,NY10017	Dir 5.0	0	0	0
Madeleine J Arnow	Dir, Treas 5.0	0	0	0
675 Third Avenue 27th fl New York,NY10017	Dir, Treas 5.0	0	0	0
Peter Arnow	Dir 5.0	0	0	0
675 Third Avenue 27th fl New York,NY10017	Dir 5.0	0	0	0
Ruth Arnow	Dir 5.0	0	0	0
675 Third Avenue 27th fl New York,NY10017	Dir 5.0	0	0	0
Elyse Arnow Brill	Dir 5.0	0	0	0
675 Third Avenue 27th fl New York,NY10017	Dir 5.0	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
Cambridge Associates	Investment Mgmt	57,368
PO Box 10317 UNIONDALE,NY11555	Investment Mgmt	57,368

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

10,118,613

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

468,631

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

13,110,459

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

23,697,703

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

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

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

662,650

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

23,035,053

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

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

345,526

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

22,689,527

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

1,134,476

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

1,134,476

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

13,297

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

22,703

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

36,000

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

1,098,476

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

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

1,098,476

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

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

1,098,476

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 ..........

3,372,389

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

3,372,389

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

3,372,389

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	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7			1,098,476
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......
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......	149,656
fTotal of lines 3a through e........		149,656
4Qualifying distributions for 2020 from Part
XII, line 4: $ 3,372,389
a Applied to 2019, but not more than line 2a
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.....			1,098,476
e Remaining amount distributed out of corpus		2,273,913
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		2,423,569
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 ..........			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) .......
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 ......		2,423,569
10 Analysis of line 9:
a Excess from 2016....
b Excess from 2017....
c Excess from 2018....
d Excess from 2019....	149,656
e Excess from 2020....	2,273,913

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
CHAMAH 473 EMPIRE BLVD BROOKLYN,NY11225	N/A	PC	General & Unrestricted	50,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Arnow Family Fund	805,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Premium Point Fund	100,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	The Kami Fund	25,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Madeleine & David Arnow Fund	200,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Joel and Leanne Arnow Fund	25,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Premium Fund	100,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Kathi and Peter Arnow Fund	200,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Leslie and Ben Arnow Fund	25,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Tetra Fund	200,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	The Axis Fund	25,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Butler Funds	25,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Daniel Arnow Fund	25,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Eli Arnow Fund	25,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Triple A Foundation	25,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	Noah and Tamara Arnow Fund	25,000
JEWISH COMMUNAL FUND 575 MADISON AVE STE 703 NEW YORK,NY10022	N/A	PC	General & Unrestricted	1,445,000
Total ................................. 3a				3,325,000

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	1,713
4 Dividends and interest from securities....			14	205,416
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 ............	525990	64,517	18	862,090
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	58,422	14	149,137
bFederal Tax Refund			01	23,361
cCLASS ACTION LAWSUIT PROCEEDS			01	10
dFOREIGN CURRENCY GAIN			01	905
eINCOME FROM PFIC			14	14,602
12 Subtotal. Add columns (b), (d), and (e)..		122,939		1,257,234

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

1,380,173

(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:

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

TY 2020 DepreciationSchedule

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

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 GeneralExplanationAttachment

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Identifier	Return Reference	Explanation
PART I LINE 6A	PART I LINE 6A	RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF ASSETS NOT INCLUDED IN PART IV TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $862,090 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $64,517 TOTAL PART I, LINE 6A: $926,607 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $5,073,375 BOOK BASIS: $4,713,395 NET GAIN/(LOSS): $359,980 PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $504,924 SALES OF OTHER ITEMIZED ASSETS GROSS SALES PRICE: $2,482,299 BOOK BASIS: $2,485,113 NET GAIN/(LOSS): $(2,814)
form 8865	FORMS 8865	The Foundation has prepared these forms to the best of its ability based on the limited information provided to it by the investment on which the Foundation is reporting and on the basis of having received no information to the contrary. Any missing or incomplete information is due to the Foundation's inability to obtain such information and is not a willful attempt to withhold such information.

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC - 3.600% - 05/14/20	39,011	39,016
AMAZON COM INC - 1.200% - 06/0	30,541	30,529
AMERICAN EXPRESS - 2.650% - 12	15,222	15,658
AMERICAN EXPRESS CO - 2.500% -	30,325	32,004
AMERICAN HONDA FIN CORP - 1.20	35,667	35,817
AMGEN INC NOTE - 2.650% - 05/1	30,267	30,901
ANHEUSER BUSCH INBEV BOND - 3.	24,731	28,318
ANHEUSER-BUSCH - 3.650% - 02/0	32,416	33,904
APPLE INC - 3.450% - 05/06/202	24,893	27,531
AT&T INC - 4.125% - 02/17/2026	41,935	46,240
BANK AMER CORP - 4.125% - 01/2	16,065	16,625
BANK OF AMERICA - 4.000% - 04/	65,618	71,977
BANK OF NOVA SCOTIA - 1.950% -	56,992	56,801
BERKSHIRE HATHAWAY INC - 0.000	15,323	15,752
BK OF AMERICA CORP SER N MTN -	49,000	49,533
BOSTON PPTYS - 3.800% - 02/01/	10,496	10,855
BP CAPITAL MKTS - 3.814% - 02/	16,031	16,474
CATERPILLAR FINL SVCS - 0.650%	55,379	55,461
CISCO SYSTEMS INC - 3.625% - 0	16,143	16,492
CITIGROUP INC - 3.200% - 10/21	38,198	44,707
CITIGROUP INC BND - 3.300% - 0	29,682	33,269
COMCAST CORP - 3.300% - 02/01/	56,230	56,450
CVS HEALTH - 3.875% - 07/20/20	31,015	33,975
DEERE & CO SR NT - 2.600% - 06	50,028	51,433
DEERE JOHN CAP CORP - 3.150% -	14,816	15,344
DIAGEO INVT CORP - 2.875% - 05	56,856	56,872
DISNEY WALT CO - 2.350% - 12/0	57,146	57,110
DISNEY WALT CO - 2.950% - 06/1	31,758	33,336
GENERAL MLS INC NOTE - 2.600%	36,284	36,336
GOLDMAN SACHS GROUP INC - 3.62	30,264	32,014
GOLDMAN SACHS GROUP INC NOTE -	34,860	35,284
HOME DEPOT INC - 2.700% - 04/0	15,353	15,732
INTERNATIONAL BK - 0.250% - 11	15,966	16,006
JP MORGAN CHASE - 3.125% - 01/	30,123	32,858
JP MORGAN CHASE - 3.900% - 07/	81,083	90,877
LOCKHEED MARTIN CORP - 3.350%	18,226	18,378
LONGVIEW TX TBLE-REF LTD - 0.7	55,000	55,242
MCDONALDS CORP MED TERM NT - 3	34,072	34,414
MICROSOFT CORP - 2.700% - 02/1	46,877	48,885
MORGAN STANLEY MTN - 2.750% -	34,664	36,145
NOVARTIS CAPITAL CORP - 3.000%	40,110	44,236
ORACLE - 2.500% - 10/15/2022	15,205	15,591
ORACLE CORP NOTE - 2.400% - 09	63,132	68,290
PEPSICO INC - 2.750% - 03/01/2	74,955	79,185
PNC FINL SVCS - 3.500% - 01/23	31,479	32,682
ROYAL BK CDA - 1.950% - 01/17/	51,595	51,632
ROYAL BK CDA - 2.750% - 02/01/	15,475	15,411
SHELL INTERNATIONAL - 3.250% -	30,361	33,219
SIMON PPTY GROUP LP - 3.375% -	31,752	32,617
STARBUCKS CORP - 2.450% - 06/1	44,896	48,629
STATE STR CORP NOTE - 2.354% -	50,154	53,365
TEMPLE UNIV OF THE COMWLTH SYS	40,000	40,109
THERMO FISHER SCIENTIFIC INC -	39,814	39,817
TORONTO DOMINION BANK SER C -	50,543	50,529
U S BANCORP - 3.150% - 04/27/2	29,384	33,793
UNITEDHEALTH GROUP INC - 3.750	48,685	51,239
VENTURA CNTY CALIF CMNTY COLLE	40,000	41,610
VERIZON COMMUNICATIONS INC - 5	47,490	50,650
WELLPOINT INC - 3.300% - 01/15	37,277	37,018
WELLS FARGO & CO - 3.000% - 04	23,395	27,512
WESTPAC BANK - 2.000% - 08/19/	15,276	15,168

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Name of Stock	End of Year Book Value	End of Year Fair Market Value
3M CO	42,856	44,746
ABBOTT LABS	8,198	15,548
ABBVIE INC	14,445	18,430
ABIOMED	1,281	1,621
ACTIVISION BLIZZARD INC	1,797	3,064
ADOBE SYSTEMS, INC	47,519	89,521
ADVANCE AUTO PARTS INC	18,289	23,627
ADVANCED MICRO DEVICES INC	8,137	14,398
AGILENT TECHNOLOGIES INC	29,996	46,211
AKAMAI TECH COM STK	1,260	1,470
ALEXANDRIA REAL ESTATE EQUITIE	21,564	27,446
ALEXION PHARMACEUTICALS, INC	1,864	2,969
ALIGN TECHNOLOGY, INC	1,247	3,206
ALPHABET INC CL A	23,394	38,558
ALPHABET INC CL C	87,871	178,691
AMER INTERNATIONAL GROUP INC	7,180	7,496
AMERICAN EXPRESS CO	7,078	8,464
AMERICAN TOWER REIT INC	9,069	12,121
AMERICAN WATER WORKS COMPANY I	14,032	26,704
AMGEN INC	34,303	39,316
AMPHENOL CORPORATION	19,356	23,539
ANALOG DEVICES INC	17,605	29,546
ANTHEM INC	1,419	1,927
AON PLC CL A	12,392	33,169
APPLE INC	41,147	196,380
APPLIED MATERIALS INC	17,455	38,231
APTAR GROUP INC	14,646	30,800
APTIV PLC	1,594	2,215
ARCHER DANIELS MDLND	841	1,311
ARISTA NETWORKS	746	1,162
AUTOMATIC DATA PROCESSING INC	7,921	8,458
AVANGRID INC	23,350	21,362
BALL CP	873	1,398
BANK NEW YORK MELLON CORP COM	4,421	4,965
BANK OF AMERICA CORP	21,894	25,157
BAXTER INTERNATIONAL INC	1,028	1,043
BECTON DICKINSON & CO	4,592	5,004
BIOGEN INC	34,179	33,546
BLACKROCK INC	5,491	7,937
BOEING CO	8,778	6,208
BOOKING HOLDINGS INC	43,238	57,909
BORG WARNER INC	730	1,236
BOSTON SCIENTIFIC	2,936	3,739
BRISTOL-MYERS SQUIBB CO	23,794	24,812
BROADCOM INC	8,007	16,200
CAPITAL ONE FINANCIAL CORP	5,211	5,634
CARLISLE COS INC	17,203	24,989
CARNIVAL CORP	4,121	5,957
CARRIER GLOBAL	39,373	42,284
CATERPILLAR INC	11,374	16,746
CDW CORP	2,022	2,109
CENTERPOINT ENERGY	1,555	2,467
CERNER CORPORATION	33,368	40,653
CHARLES SCHWAB CORP	4,048	4,880
CHUBB LIMITED	4,103	6,157
CIENA CORP	41,045	49,151
CIGNA CORPORATION	4,416	6,245
CINTAS CRP	869	1,767
CISCO SYSTEMS INC	25,569	28,282
CITIGROUP INC	67,598	65,360
CITIZENS FINANCIAL GROUP, INC	4,043	8,118
CLOROX CO	1,360	1,413
CME GROUP, INC	21,774	31,677
COLGATE-PALMOLIVE COMPANY	27,438	33,349
COMCAST CORP	17,405	25,152
CONAGRA FOODS INC	780	1,015
CONSTELLATION BRANDS INC	3,939	4,819
COPART INC	7,658	14,125
CORNING INC	841	1,512
CORTEVA INC	1,541	2,672
CROWN CASTLE INTL	6,186	7,960
CSX CORP	8,501	13,794
CUMMINS INC	40,616	55,185
CVS CAREMARK CORP	7,878	7,240
D R HORTON	1,061	1,654
DANAHER CORP	20,701	50,426
DEERE CO	5,678	10,762
DEXCOM, INC	4,584	4,437
DISCOVER FINL SVCS COM	879	2,354
DISCOVERY INC (FORMERLY DISC C	762	1,143
DOLLAR GENERAL CORP	4,625	6,730
DOW INC	1,680	3,275
DTE ENERGY CO COM	4,153	5,828
DU PONT DE NEMOURS	974	2,133
EATON CORP PLC	2,313	3,364
EBAY INC	7,764	13,517
ECOLAB INC	25,582	35,267
EDISON INTL	1,181	1,068
EDWARDS LIFESCIENCES	2,034	3,011
EMERSON ELECTRIC CO	37,146	45,007
EQUINIX, INC	5,453	7,142
ESTEE LAUDER COMPANIES INC	13,620	37,267
ETSY INC	12,944	16,546
EVERSOURCE ENERGYINC	4,501	5,450
EXELON CORPORATION	5,868	7,177
EXPEDIA INC	5,889	11,784
FASTENAL COMPANY	1,695	2,637
FIDELITY NATIONAL INFORMATION	9,110	10,468
FIFTH THIRD BANCORP	1,806	1,599
FIRST REPUBLIC BANK	615	1,029
FIRST SOLAR INC	32,428	70,233
FISERV INC	6,065	9,792
FLEETCOR TECHNOLGIES INC	1,714	2,455
FORD MOTOR COMPANY	2,802	4,966
FORTIVE CORPORATION	2,368	2,479
GENERAL MILLS INC	4,676	5,292
GILEAD SCIENCES INC	44,315	37,578
GLOBAL PAYMENTS INC	4,378	6,678
GRAINGER W W INC	1,468	2,858
HANNON ARMSTRONG SUST INFRAST	25,440	74,530
HCA INC	1,591	3,289
HILTON WORLDWIDE HOLDINGS, INC	2,498	4,005
HOME DEPOT INC	48,016	82,608
HP INC	16,718	24,418
HUNT J B	2,236	3,553
ILLINOIS TOOL WORKS	5,979	9,175
ILLUMINA INC COM	1,804	2,590
INTERCONTINENTAL EXCHANGE, INC	5,738	7,840
INTUIT	37,216	60,776
INTUITIVE SURGICAL	3,416	5,727
IPG PHOTONICS CORP	13,332	17,008
JOHNSON & JOHNSON	26,580	32,106
KANSAS CITY SOUTHERN	13,964	32,048
KELLOGG CO	2,106	2,365
KIMBERLY CLARK CORP	37,405	36,943
KLA TENCOR CORP	955	1,812
KRAFT HEINZ CO	4,071	6,135
KROGER CO	3,124	3,240
L3HARRIS TECHNOLOGIES	2,775	3,213
LAM RESEARCH CORP	7,566	11,334
LAS VEGAS SANDS CORP	1,973	2,622
LENNAR CORP	1,100	2,058
LINDE PLC COM	11,867	18,973
LOCKHEED MARTIN CORP	10,591	12,069
LOEWS CORP	1,924	2,566
LOWES COMPANIES INC	7,189	13,804
LYONDELLBASELL INDUSTRIES NV	2,401	4,858
MARSH AND MCLENNAN COMPANIES I	4,890	5,616
MASTERCARD INC	24,782	39,620
MCCORMICK & CO	1,251	2,486
MEDTRONIC PLC	9,468	13,003
MERCK & CO INC	60,161	75,583
METLIFE INC	3,701	6,291
MGM RESORTS INTERNATIONAL	3,633	4,411
MICRON TECHNOLOGY	42,614	59,768
MICROSOFT CORP	84,721	316,725
MOHAWK INDS INC	45,333	52,152
MOLSON COOR BREW CO CL B	1,200	904
MONDELEZ INTERNATIONAL INC	29,284	39,467
MONSTER BEVERAGE CORP	3,278	5,641
MOODYS CORP	4,894	7,256
MORGAN STANLEY	40,912	68,530
MOTOROLA SOLUTIONS INC	785	1,020
MSCI INC	1,640	2,679
NETAPP, INC	1,415	1,524
NETFLIX INC	28,017	35,688
NEW YORK TIMES CO CL A	17,563	31,321
NEWMONT GOLDCORP CORPORATION	7,593	10,960
NEXTERA ENERGY, INC	11,360	16,973
NOVO NORDISK A S	19,898	30,385
NVIDIA CORP	20,403	37,598
O'REILLY AUTOMOTIVE INC	1,720	2,715
OLD DOMINION FREIGHT LINES	1,269	2,342
PACCAR INC	2,312	2,675
PAYPAL HOLDINGS, INC	18,760	38,877
PEPSICO INC	15,766	20,762
PFIZER INC	13,550	16,491
PNC FINANCIAL GROUP INC	43,664	57,216
PPG INDUSTRIES INC	903	1,586
PROCTER GAMBLE CO	49,477	62,752
PROGRESSIVE CORP OHIO	2,981	5,438
PRUDENTIAL FINCL INC	5,258	4,528
PUBLIC STORAGE INC	4,888	5,773
PUBLIC SVC ENTERPRISE GROUP IN	816	1,166
PVH CORP	33,933	26,759
QUALCOMM INC	5,198	14,168
QUANTA SVCS INC	1,499	3,889
RAYTHEON TECHNOLOGIES CORP	10,189	12,943
REGENERON PHARMACEUTICALS INC	23,595	33,335
ROPER INDUSTRIES	566	862
ROSS STORES, INC	931	1,597
ROYAL CARRIBEAN CRUISE	7,957	9,486
S&P GLOBAL INC COM	7,613	11,506
SALESFORCE.COM	50,658	59,638
SBA COMMUNICATIONS CORP	7,541	8,464
SEAGATE TECHNOLOGY	16,403	19,270
SEMPRA ENERGY COM	3,994	4,587
SERVICE NOW	13,052	20,916
SIMON PPTY GROUP INC	2,411	1,279
SKYWORKS SOLUTIONS, INC	2,675	3,058
SL GREEN REALTY CORP	896	1,132
SPDR BARCLAYS 1 TO 10 YEAR TIP	1,352,128	1,445,538
STARBUCKS CORP COM	9,065	14,763
STATE STREET CORPORATION	3,193	2,547
STRYKER CORPORATION	1,881	2,695
SYNCHRONY FINANCIAL	1,800	1,840
T-MOBILE US INC	3,633	4,315
T. ROWE PRICE GROUP	28,056	39,967
TARGET CORPORATION	31,837	54,018
TE CONNECTIVITY LTD	1,696	3,390
TESLA MOTORS INC	43,782	44,457
TEXAS INSTRUMENTS INC	16,134	23,471
THE COCA-COLA CO	21,940	27,694
THE JM SMUCKER COMPANY	1,586	1,734
THERMO FISHER SCIENTIFIC INC	6,560	10,713
TIFFANY & CO	760	789
TJX COMPANIES INC	29,921	38,652
TOPBUILD CORP	27,390	32,398
TRACTOR SUPPLY CO COM	720	1,265
TRAVELERS COMPANIES INC	3,746	4,071
TRUIST FINANCIAL CORPORATION	6,146	6,614
TWITTER INC	2,980	5,144
ULTA SALON, COSMETICS & FRAGRA	888	1,436
UNDER ARMOUR INC CL A	760	1,425
UNITED PARCEL SERVICE	9,962	17,177
UNITED RENTALS INC	717	2,319
UNITEDHEALTH GROUP INC	18,776	29,106
US BANCORP	9,078	10,529
VERIZON COMMUNICATIONS	81,065	98,524
VERTEX PHARMCTLS INC	15,358	15,598
VIACOMCBS INC	2,385	5,291
VIATRIS ORD SHS	736	1,031
VISA INC	64,691	152,455
VMWARE INC	20,428	20,338
VONTIER CORPORATION	410	468
VULCAN MATERIALS CO	2,222	3,856
WABTEC	34,963	33,745
WALGREENS BOOTS ALLIANCE	9,003	8,175
WALT DISNEY HOLDINGS CO	44,893	78,451
WASTE MANAGEMENT INC	4,604	5,897
WATERS CORP	25,527	29,938
WELLTOWER INC.	959	1,163
WESTROCK COMPANY	735	1,219
WILLIS TOWERS WATSON PUBLIC LT	849	1,053
XEROX HOLDINGS CORPORATION	8,919	9,044
YUM BRANDS INC	4,041	6,296
ZEBRA TECHNOLOGIES CORP	10,009	11,146
ZOETIS INC	3,217	5,131

- TIN:

TY 2020 InvestmentsGovtObligationsSch

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

US Government Securities - End of Year Book Value:

1,381,800

US Government Securities - End of Year Fair Market Value:

1,424,301

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

589,305

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

604,260

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Category/ Item	Book Value	End of Year Fair Market Value
AVANATH AFFORDABLE HOUSING IV,	134,231	134,567
BETTER VENTURES FUND III, LP	94,855	131,670
BLUE HIGHWAY GROWTH CAPITAL FU	74,519	73,044
BOSTON COMMON INT'L SUSTAINABL	1,187,741	1,633,674
CLEAN GROWTH FUND IV, LP	158,714	205,491
CLEAN GROWTH FUND V, LP	107,131	143,227
ECOSYSTEM INTEGRITY FUND IV, L	31,619	31,438
ELEVAR EQUITY IV, LP	252,783	355,172
GENERATION IM ASIA FUND L.P	1,063,819	1,461,161
HULL STREET ENERGY PARTNERS I,	244,034	290,870
ILLUMEN CAPITAL, LP	86,148	89,007
INVESTECO SUSTAINABLE FOOD FUN	261,552	408,596
LANSDOWNE CLEAN ENERGY FUND IC	514,602	1,000,175
MAJ INVEST GLOBAL VALUE EQUITI	1,002,990	1,038,226
NYES LEDGE CAPITAL OFFSHORE FU	611,223	1,137,576
OWNERSHIP CAPITAL GLOBAL EQUIT	1,013,788	1,456,960
PARK STREET CAPITAL NATURAL RE	158	318
PARK STREET CAPITAL NATURAL RE	27,523	18,711
PARK STREET CAPITAL NATURAL RE	58,943	32,534
PARK STREET CAPITAL NATURAL RE	56,981	50,432
ROSE AFFORDABLE HOUSING PRESER	229,825	375,493
ROSE SMART GROWTH INVESTMENT F	60,148	43,551
RRG GLOBAL PARTNERS FEEDER FUN	218,050	252,419
RRG SUSTAINABLE WATER IMPACT F	33,622	36,188
STEWART INVS GEMSL FD (DST)	984,013	1,194,733
SUSTAINABLE ASSET FUND II (CAY	222,191	253,346
SUSTAINABLE ASSET FUND LP	184,567	495,688
TRUE GREEN CAPITAL FUND III L.	474,193	557,298

- TIN:

TY 2020 LegalFeesSchedule

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
General Consultations	1,487			1,487

- TIN:

TY 2020 OtherExpensesSchedule

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	34,500		34,500
Foundation Dues & Memberships	3,000		3,000
K-1 Exp ACADIAN SUSTAINABLE EM	4,532	4,532
K-1 Exp AVANATH AFFORDABLE HOU	369	367
K-1 Exp BETTER VENTURES FUND I	7,147	7,147
K-1 Exp BLUE HIGHWAY GROWTH CA	6,341	6,341
K-1 Exp BOSTON COMMON INT'L SU	3,457	3,370
K-1 Exp CLEAN GROWTH FUND IV,	7,257	7,249
K-1 Exp CLEAN GROWTH FUND V, L	5,386	5,171
K-1 Exp ECOSYSTEM INTEGRITY FU	5,881	5,877
K-1 Exp ELEVAR EQUITY IV, LP	13,371	13,370
K-1 Exp GENERATION IM ASIA FUN	11,971	11,971
K-1 Exp ILLUMEN CAPITAL, LP	14,421	14,421
K-1 Exp INVESTECO SUSTAINABLE	6,923	6,918
K-1 Exp MAJ INVEST GLOBAL VALU	840	840
K-1 Exp OWNERSHIP CAPITAL GLOB	27,547	27,531
K-1 Exp PARK STREET CAPITAL NA	39	16
K-1 Exp PARK STREET CAPITAL NA	774	730
K-1 Exp PARK STREET CAPITAL NA	2,174	1,512
K-1 Exp PARK STREET CAPITAL NA	3,982	3,471
K-1 Exp ROSE AFFORDABLE HOUSIN	284	284
K-1 Exp RRG SUSTAINABLE WATER	721	721
K-1 Exp STEWART INVS GEMSL FD	4,313	4,313
K-1 Exp SUSTAINABLE ASSET FUND	10,100	10,100
K-1 Exp SUSTAINABLE ASSET FUND	5,613	4,725
K-1 Exp THE SILCHESTER INTL IN	4,362	4,362
K-1 Exp TRUE GREEN CAPITAL FUN	12,919	12,790
State or Local Filing Fees	750		750
Website Hosting/Support	152		152

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Description	Revenue And Expenses Per Books	Net Investment Income
K-1 Inc/Loss ACADIAN SUSTAINABLE EMERGING MKT EQUI	48,096	48,096
K-1 Inc/Loss AVANATH AFFORDABLE HOUSING IV, LLC	-11,284	-11,284
K-1 Inc/Loss BETTER VENTURES FUND III, LP	366	366
K-1 Inc/Loss BLUE HIGHWAY GROWTH CAPITAL FUND, LP	89	89
K-1 Inc/Loss BOSTON COMMON INT'L SUSTAINABLE CLIMA	19,716	19,716
K-1 Inc/Loss CLEAN GROWTH FUND IV, LP	-161	650
K-1 Inc/Loss CLEAN GROWTH FUND V, LP	-2,017	-801
K-1 Inc/Loss ELEVAR EQUITY IV, LP	481	481
K-1 Inc/Loss GENERATION IM ASIA FUND L.P	13,116	13,116
K-1 Inc/Loss ILLUMEN CAPITAL, LP	92	92
K-1 Inc/Loss INVESTECO SUSTAINABLE FOOD FUND II, L	1,095	1,095
K-1 Inc/Loss MAJ INVEST GLOBAL VALUE EQUITIES FUND	7,103	7,103
K-1 Inc/Loss OWNERSHIP CAPITAL GLOBAL EQUITY (USD)	7,578	7,578
K-1 Inc/Loss PARK STREET CAPITAL NATURAL RESOURCE	14	8
K-1 Inc/Loss PARK STREET CAPITAL NATURAL RESOURCE	-95	-238
K-1 Inc/Loss PARK STREET CAPITAL NATURAL RESOURCE	1,597	1,030
K-1 Inc/Loss PARK STREET CAPITAL NATURAL RESOURCE	2,978	2,306
K-1 Inc/Loss ROSE AFFORDABLE HOUSING PRESERVATION	44	44
K-1 Inc/Loss ROSE SMART GROWTH INVESTMENT FUND I L	-1,974	-1,033
K-1 Inc/Loss STEWART INVS GEMSL FD (DST)	7,043	7,043
K-1 Inc/Loss SUSTAINABLE ASSET FUND II (CAYMAN) LP	4,594	4,594
K-1 Inc/Loss SUSTAINABLE ASSET FUND LP	83,702	6,323
K-1 Inc/Loss THE SILCHESTER INTL INV INTL VALUE EQ	42,380	42,380
K-1 Inc/Loss TRUE GREEN CAPITAL FUND III L.P	-16,994	351
Class Action Lawsuit Proceeds	10	10
Federal Tax Refund	23,361
Foreign Currency Gain	905	905
INCOME FROM PFIC	14,602	14,602

- TIN:

TY 2020 OtherLiabilitiesSchedule

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Description	Beginning of Year - Book Value	End of Year - Book Value
LINE OF CREDIT		2,545,000

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	119,146	119,146
Philanthropic Consulting Srvcs	7,500			7,500

- TIN:

TY 2020 TaxesSchedule

Name:

The Arnow Family Fund Inc

EIN:

13-3188773

Category	Amount	Net Investment Income
990-PF Estimated Tax for 2020	7,300
990-T Extension for 2019	6,900
IRS MISCELLANEOUS FEE	1,149
STATE TAX PAID BY PARTNERSHIP	7,150	7,150
STATE INCOME TAX 2019	3,800