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
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 12-01-2020 , and ending 11-30-2021
Name of foundation
MARJORIE AND MAXWELL JOSPEY
FOUNDATION
Number and street (or P.O. box number if mail is not delivered to street address)260 EAST BROWN STREET SUITE 340
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BIRMINGHAM, MI48009
A Employer identification number

38-6061846
B Telephone number (see instructions)

(248) 760-1040
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$5,781,789J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 90,586 90,586  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 140,961
b Gross sales price for all assets on line 6a 2,018,359
7 Capital gain net income (from Part IV, line 2)... 140,961
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)....... Click to see attachment 26,584 26,584  
12 Total. Add lines 1 through 11........ 258,131 258,131  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 40,000 4,000   36,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 7,800 7,800    
c Other professional fees (attach schedule).... Click to see attachment 23,829 23,829    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,335      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 80      
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 74,044 35,629   36,000
25 Contributions, gifts, grants paid....... 261,134 261,134
26 Total expenses and disbursements. Add lines 24 and 25 335,178 35,629   297,134
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -77,047
b Net investment income (if negative, enter -0-) 222,502
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 Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 391,246 532,363 532,363
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 613,897 Click to see attachment698,360 1,531,263
c Investments—corporate bonds (attach schedule)....... 3,242,703 Click to see attachment2,969,740 2,955,471
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 792,356 Click to see attachment762,692 762,692
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 5,040,202 4,963,155 5,781,789
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
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 bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 5,040,202  
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds   4,963,155
29 Total net assets or fund balances (see instructions)..... 5,040,202 4,963,155
30 Total liabilities and net assets/fund balances (see instructions). 5,040,202 4,963,155
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
5,040,202
2
Enter amount from Part I, line 27a .....................
2
-77,047
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
4,963,155
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
4,963,155
Form 990-PF (2020)
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 P    
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 2,018,359   1,877,398 140,961
b
c
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       140,961
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 140,961
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
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 Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 3,093
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 3,093
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 3,093
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 1,840
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 4,400
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 6,240
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.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 3,147
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet3,147 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMI
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletNEAL F ZALENKO Telephone no.bullet (248) 760-1040

    Located atbullet260 E BROWN ST STE 340BIRMINGHAMMI ZIP+4bullet48009
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 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
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 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.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    NEAL F ZALENKO PRESIDENT
    4.00     		25,000 0 0
    260 E BROWN ST STE 340
    BIRMINGHAM,MI48009
    MICHAEL W MADDIN VICE PRESIDE
    3.00     		5,000 0 0
    28400 NORHTWESTERN HWY
    3RD FLOOR
    SOUTHFIELD,MI48034
    DAVID C CONTORER SECRETARY
    3.00     		5,000 0 0
    6735 TELEGRAPH RD STE 300
    BLOOMFIELD HILLS,MI48301
    SUSAN JACOB DIRECTOR
    3.00     		5,000 0 0
    30490 STONEGATE DRIVE
    FRANKLIN,MI48025
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2020)
    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
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    4,482,041
    b
    Average of monthly cash balances.......................
    1b
    513,576
    c
    Fair market value of all other assets (see instructions)................
    1c
    762,692
    d
    Total (add lines 1a, b, and c).........................
    1d
    5,758,309
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    5,758,309
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    86,375
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,671,934
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    283,597
    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.)
    1
    Minimum investment return from Part X, line 6....................
    1
    283,597
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    3,093
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    3,093
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    280,504
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    280,504
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    280,504
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    297,134
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    297,134
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    297,134
    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)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 280,504
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 5,460
    b From 2016......  
    c From 2017...... 6,975
    d From 2018...... 20,289
    e From 2019...... 30,978
    fTotal of lines 3a through e........ 63,702
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 297,134
    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..... 280,504
    e Remaining amount distributed out of corpus 16,630
    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 80,332
    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) ...     		5,460
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		74,872
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017.... 6,975
    c Excess from 2018.... 20,289
    d Excess from 2019.... 30,978
    e Excess from 2020.... 16,630
    Form 990-PF (2020)
    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 section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    NEAL F ZALENKO
    260 EAST BROWN STREET 340
    BIRMINGHAM,MI48009
    (248) 760-1040
    bThe form in which applications should be submitted and information and materials they should include:
    A BROCHURE STATING APPLICANTS PURPOSE AND A COPY OF THIER IRS DETERMINATION LETTER THAT THE APPLICANT IS A SECTION 170(C) OPERATING CHARITABLE ORGANIZATION.
    cAny submission deadlines:
    NO SUBMISSION DEADLINES
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NO RESTRICTIONS OR LIMITATIONS ON AWARDS OR CONTRIBUTIONS
    Form 990-PF (2020)
    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)
    aPaid during the year
    ALTERNATIVE FOR GIRLS
    903 W GRAND BLVD
    DETROIT,MI48208     		NONE PC GENERAL SUPPORT 7,500
    BIRTH DETROIT CARES
    16919 PRAIRIE ST
    DETROIT,MI48221     		NONE PC GENERAL SUPPORT 1,000
    BLACK LEADERS DETROIT
    8425 W MCNICHOLS RD
    DETROIT,MI48221     		NONE PC GENERAL SUPPORT 1,000
    BRILLIANT DETROIT
    5675 LARKINS ST
    DETROIT,MI48210     		NONE PC GENERAL SUPPORT 5,000
    BUILDING BETTER MEN
    440 BURROUGHS SUITE 149
    DETROIT,MI48202     		NONE PC GENERAL SUPPORT 5,000
    CHABAD OF GREATER DOWNTOWN DETROIT
    278 MACK AVE
    DETROIT,MI48201     		NONE PC GENERAL SUPPORT 1,500
    CORNELL UNIVERSITY
    PO BOX 37334
    BOONE,IA50037     		NONE PC GENERAL SUPPORT 1,000
    DETROIT FOOD ACADEMY
    4444 2ND AVE
    DETROIT,MI48201     		NONE PC GENERAL SUPPORT 1,000
    DETROIT HISTORICAL SOCIETY
    5401 WOODWARD AVE
    DETROIT,MI48202     		NONE PC GENERAL SUPPORT 2,000
    DETROIT INSTITUTE OF ARTS
    5200 WOODWARD AVE
    DETROIT,MI48202     		NONE PC GENERAL SUPPORT 15,000
    DETROIT PUBLIC TELEVISION
    1 CLOVER COURT
    WIXOM,MI48393     		NONE PC GENERAL SUPPORT 6,500
    DETROIT PUBLIC THEATER
    684 W BALTIMORE ST
    DETROIT,MI48202     		NONE PC GENERAL SUPPORT 8,334
    DETROIT RIVERFRONT CONSERVANCY
    600 RENAISSANCE CENTER
    DETROIT,MI48243     		NONE PC GENERAL SUPPORT 1,000
    DETROIT SYMPHONY ORCHESTRA
    3711 WOODWARD AVE
    DETROIT,MI48201     		NONE PC GENERAL SUPPORT 5,000
    DETROIT ZOOLOGICAL SOCIETY
    8450 W 10 MILE RD
    ROYAL OAK,MI48057     		NONE PC GENERAL SUPPORT 5,000
    DETROIT 2 NEPAL FOUNDATION
    2035 BAYOU DR
    WEST BLOOMFIELD,MI48323     		NONE PC GENERAL SUPPORT 3,500
    EVERSIGHT
    3985 RESEARCH PARK DR
    ANN ARBOR,MI48108     		NONE PC GENERAL SUPPORT 2,500
    FORGOTTEN HARVEST
    21800 GREENFIELD RD
    OAK PARK,MI48237     		NONE PC GENERAL SUPPORT 12,500
    FRESH AIR SOCIETY
    6735 TELEGRAPH RD
    BLOOMFIELD HILLS,MI48301     		NONE PC GENERAL SUPPORT 1,000
    FRIENDS OF BNAI DAVID CEMETERY
    9535 VAN DYKE ST
    DETROIT,MI48213     		NONE PC GENERAL SUPPORT 500
    FRIENDS OF CAMP MAKE-A-DREAM
    4301 ORCHARD LAKE RD
    WEST BLOOMFIELD,MI48323     		NONE PC GENERAL SUPPORT 5,000
    FRIENDSHIP CIRCLE
    6892 W MAPLE RD
    WEST BLOOMFIELD,MI48322     		NONE PC GENERAL SUPPORT 2,500
    GARY BURNSTEIN COMMUNITY HEALTH
    45580 WOODWARD AVE
    PONTIAC,MI48341     		NONE PC GENERAL SUPPORT 3,750
    GLEANERS COMMUNITY FOOD BANK
    2131 BEAUFAIT ST
    DETROIT,MI48207     		NONE PC GENERAL SUPPORT 1,000
    GOODFELLOWS
    1927 ROSA PARKS BLVD
    DETROIT,MI48216     		NONE PC GENERAL SUPPORT 2,000
    GREENING OF DETROIT
    13000 W MCNICHOLS RD
    DETROIT,MI48235     		NONE PC GENERAL SUPPORT 2,000
    HEBREW FREE LOAN
    6735 TELEGRAPH RD
    BLOOMFIELD HILLS,MI48301     		NONE PC GENERAL SUPPORT 1,000
    HILLEL UNIVERSITY OF MICHIGAN
    1429 HILL STREET
    ANN ARBOR,MI48104     		NONE PC GENERAL SUPPORT 2,500
    HILLEL CAMPUS ALLIANCE OF MICHIGAN
    360 CHARLES ST
    EAST LANSING,MI48823     		NONE PC GENERAL SUPPORT 1,000
    HILLEL OF METRO DETROIT
    5221 GULLEN MALL
    DETROIT,MI48202     		NONE PC GENERAL SUPPORT 2,500
    HOLOCAUST MEMORIAL CENTER
    28123 ORCHARD LAKE RD
    FARMINGTON HILLS,MI48334     		NONE PC GENERAL SUPPORT 1,000
    HUMBLE DESIGN
    180 N SAGINAW ST
    PONTIAC,MI48342     		NONE PC GENERAL SUPPORT 1,200
    INSIDE OUT LITERARY ARTS
    5201 CASS AVE
    DETROIT,MI48202     		NONE PC GENERAL SUPPORT 1,000
    ISAAC AGREE DOWNTOWN SYNAGOGUE
    1457 GRISWOLD ST
    DETROIT,MI48226     		NONE PC GENERAL SUPPORT 5,000
    JARC
    6735 TELEGRAPH RD
    BLOOMFIELD HILLS,MI48301     		NONE PC GENERAL SUPPORT 2,500
    JEWISH FAMILY SERVICES
    6555 W MAPLE RD
    WEST BLOOMFIELD,MI48322     		NONE PC GENERAL SUPPORT 1,000
    JEWISH FEDERATION OF METRO DETROIT
    6735 TELEGRAPH RD
    BLOOMFIELD HILLS,MI48301     		NONE PC GENERAL SUPPORT 12,500
    JEWISH HISTORICAL SOCIETY OF MICHIG
    33228 W 12 MILE RD
    FARMINGTON HILLS,MI48334     		NONE PC GENERAL SUPPORT 1,000
    JEWISH HOSPICE AND CHAPLAINCY NET
    6555 W MAPLE RD
    WEST BLOOMFIELD,MI48322     		NONE PC GENERAL SUPPORT 1,250
    JEWISH SENIOR LIFE
    15000 W 10 MILE
    OAK PARK,MI48237     		NONE PC GENERAL SUPPORT 5,000
    JUVENILE DIABETES RESEARCH FOUNDATI
    24359 NORTHWESTERN HWY
    SOUTHFIELD,MI48075     		NONE PC GENERAL SUPPORT 2,000
    KADIMA
    15999 W 12 MILE RD
    SOUTHFIELD,MI48076     		NONE PC GENERAL SUPPORT 5,000
    KARMANOS CANCER INSTITUTE
    4100 JOHN R
    DETROIT,MI48201     		NONE PC GENERAL SUPPORT 2,000
    LEADER DOGS FOR THE BLIND
    1039 S ROCHESTER RD
    ROCHESTER HILLS,MI48307     		NONE PC GENERAL SUPPORT 1,000
    LIFE REMODELED
    2470 COLLINGWOOD ST
    DETROIT,MI48206     		NONE PC GENERAL SUPPORT 25,000
    LIGHTHOUSE OF OAKLAND COUNTY
    46156 WOODWARD AVE
    PONTIAC,MI48342     		NONE PC GENERAL SUPPORT 2,500
    MAKE A WISH FOUNDATION OF MI
    7600 GRAND RIVER AVE
    BRIGHTON,MI48114     		NONE PC GENERAL SUPPORT 1,500
    MICHIGAN COMMUNITY RESOURCES
    615 GRISWOLD ST
    DETROIT,MI48226     		NONE PC GENERAL SUPPORT 1,000
    MICHIGAN OPERA THEATRE
    1526 BROADWAY ST
    DETROIT,MI48226     		NONE PC GENERAL SUPPORT 2,500
    MICHIGAN YOUTH APPRECIATION FND
    27700 HOOVER RD
    WARREN,MI48093     		NONE PC GENERAL SUPPORT 1,000
    MIDNIGHT GOLF PROGRAM
    30100 TELEGRAPH RD
    BINGHAM FARMS,MI48025     		NONE PC GENERAL SUPPORT 4,000
    HILLEL MSU
    360 CHARLES ST
    EAST LANSING,MI48823     		NONE PC GENERAL SUPPORT 1,000
    NATIONAL COUNCIL OF JEWISH WOMAN
    26400 LAHSER RD
    SOUTHFIELD,MI48033     		NONE PC GENERAL SUPPORT 33,600
    PEWABIC POTTERY
    10125 E JEFFERSON
    DETROIT,MI48214     		NONE PC GENERAL SUPPORT 1,000
    PONTIAC COMMUNITY FOUNDATION
    79 OAKLAND AVE
    PONTIAC,MI48342     		NONE PC GENERAL SUPPORT 8,000
    PROSPERUS
    684 W BALTIMORE ST
    DETROIT,MI48202     		NONE PC GENERAL SUPPORT 9,000
    SALVATION ARMY
    26175 GREENFIELD RD
    SOUTHFIELD,MI48076     		NONE PC GENERAL SUPPORT 1,000
    SCORE DETROIT
    477 MICHIGAN AVE
    DETROIT,MI48226     		NONE PC GENERAL SUPPORT 1,000
    SHUA GROUP ARTS
    3000 FENKELL
    DETROIT,MI48238     		NONE PC GENERAL SUPPORT 1,000
    SOAR
    21001 MOROSS RD
    DETROIT,MI48236     		NONE PC GENERAL SUPPORT 2,000
    SOUTHWEST SOLUTIONS
    5716 MICHIGAN AVE
    DETROIT,MI48210     		NONE PC GENERAL SUPPORT 2,500
    SPECIAL OLYMPICS
    1150 SCOTT LAKE RD
    WATEROFRD TWP,MI48328     		NONE PC GENERAL SUPPORT 1,000
    TEMPLE BETH EL
    7400 TELEGRAPH RD
    BLOOMFIELD HILLS,MI48301     		NONE PC GENERAL SUPPORT 500
    TEMPLE EMANU EL
    14450 W 10 MILE RD
    OAK PARK,MI48237     		NONE PC GENERAL SUPPORT 5,000
    THE COMMUNITY HOUSE
    380 S BATES ST
    BIRMINGHAM,MI48009     		NONE PC GENERAL SUPPORT 1,000
    THE WELL
    5725 WALNUT LAKE RD
    WEST BLOOMFIELD,MI48323     		NONE PC GENERAL SUPPORT 1,000
    UNITED WAY
    3011 W GRAND BLVD
    DETROIT,MI48202     		NONE PC GENERAL SUPPORT 1,000
    WRCJ
    1 CLOVER COURT
    WIXOM,MI48393     		NONE PC GENERAL SUPPORT 1,000
    YAD EZRA
    2850 W ELEVEN MILE RD
    BERKLEY,MI48072     		NONE PC GENERAL SUPPORT 2,500
    Total .................................bullet 3a 261,134
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    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
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 90,586  
    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 ............     		    18 140,961  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aATHENE ANNUITY & LIFE CO     		    14 26,584  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   258,131  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    258,131
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    MARJORIE AND MAXWELL JOSPEY
     
    FOUNDATION
    EIN:
    38-6061846
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BOOKKEEPING SERVICES 3,600 3,600    
    ACCOUNTING FEES 4,200 4,200    

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    MARJORIE AND MAXWELL JOSPEY
     
    FOUNDATION
    EIN:
    38-6061846
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CORPORATE BONDS 2,969,740 2,955,471

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    MARJORIE AND MAXWELL JOSPEY
     
    FOUNDATION
    EIN:
    38-6061846
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CORPORATE COMMON STOCK 698,360 1,531,263

    TY 2020 InvestmentsOtherSchedule2
    Name:
    MARJORIE AND MAXWELL JOSPEY
     
    FOUNDATION
    EIN:
    38-6061846
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    INSURANCE SETTLEMENT RECEIVABLE AT COST 762,692 762,692

    TY 2020 OtherExpensesSchedule
    Name:
    MARJORIE AND MAXWELL JOSPEY
     
    FOUNDATION
    EIN:
    38-6061846
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    MICHIGAN ANNUAL REPORT FEE 20      
    OFFICE EXPENSE 60      


    TY 2020 OtherIncomeSchedule2
    Name:
    MARJORIE AND MAXWELL JOSPEY
     
    FOUNDATION
    EIN:
    38-6061846
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ATHENE ANNUITY & LIFE CO 26,584 26,584  


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    MARJORIE AND MAXWELL JOSPEY
     
    FOUNDATION
    EIN:
    38-6061846
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 23,829 23,829    


    TY 2020 TaxesSchedule
    Name:
    MARJORIE AND MAXWELL JOSPEY
     
    FOUNDATION
    EIN:
    38-6061846
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX ON INVESTMENT INCOME 2,335