Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
THE TREETOPS FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)BAKER TILLY 66 HUDSON BLVD E 2200
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY10001
A Employer identification number

13-4093466
B Telephone number (see instructions)

(212) 697-6900
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$16,399,404J 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) 49,135
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 233,832 233,832  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,319,623
b Gross sales price for all assets on line 6a 3,171,502
7 Capital gain net income (from Part IV, line 2)... 1,319,623
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
List of Attached Documents:
// Content
114,825 -237,451  
12 Total. Add lines 1 through 11........ 1,717,415 1,316,004  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
100,205 15,632   84,573
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
163,424 43,424   120,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
187,849 7,772   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 7,570 0   7,570
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,924 0   2,914
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 461,972 66,828   215,057
25 Contributions, gifts, grants paid....... 2,018,100 2,018,100
26 Total expenses and disbursements. Add lines 24 and 25 2,480,072 66,828   2,233,157
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -762,657
b Net investment income (if negative, enter -0-) 1,249,176
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
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......... 1,050,894 187,977 187,977
3 Accounts receivable right arrow13,448
Less: allowance for doubtful accounts right arrow   36,418 13,448 13,448
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
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)....... 7,403,984 Click to see attachment
List of Attached Documents:
// Content
6,630,725 		9,841,239
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 4,712,405 Click to see attachment
List of Attached Documents:
// Content
5,366,287 		6,200,323
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
0 		Click to see attachment
List of Attached Documents:
// Content
156,417 		Click to see attachment
List of Attached Documents:
// Content
156,417
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 13,203,701 12,354,854 16,399,404
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 right arrow) Click to see attachment
List of Attached Documents:
// Content
211,607 		Click to see attachment
List of Attached Documents:
// Content
125,417
23 Total liabilities (add lines 17 through 22)......... 211,607 125,417
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 12,992,094 12,229,437
29 Total net assets or fund balances (see instructions)..... 12,992,094 12,229,437
30 Total liabilities and net assets/fund balances (see instructions). 13,203,701 12,354,854
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
12,992,094
2
Enter amount from Part I, line 27a .....................
2
-762,657
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
12,229,437
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
12,229,437
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a FIDELITY 1986 P    
b FIDELITY 1986 P    
c FIDELITY 1986 P    
d UBS 0642 P    
e WELLS FARGO 6244 P    
WELLS FARGO 6244 P    
FROM K1 ACTIVITY P    
DAVENPORT & CO 6964 P    
DAVENPORT & CO 9225 P    
GAIN ON EXCESS DISTRIBUTION - RIVER PTNRS 2006-LS P    
GAIN ON EXCESS DISTRIBUTION - RIVER PTNRS 2006-WRIF P    
GAIN ON EXCESS DISTRIBUTION - ACQUISITION FUND FOUR LP P    
LOSS ON INVESTMENT - OVERSEAS ACQUISITION P    
GAIN ON LOSS PICKED UP IN 2022 P    
GAIN ON EXCESS DISTRIBUTION - DELOS INVESTMENT FUND P    
LOSS ON INVESTMENT - BROADSCALE PT INVESTORS P    
DAVENPORT 6964-ENERGY TRANSFER LP P    
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 882,544   844,567 37,977
b 277,762   272,543 5,219
c 856,996   290,792 566,204
d 57   30 27
e 1,162   1,152 10
74,142   77,902 -3,760
497,521     497,521
409,891   233,697 176,194
72,697   31,553 41,144
8,613     8,613
5,192     5,192
378     378
    2,688 -2,688
21,537     21,537
1,054     1,054
    7,322 -7,322
59,663   89,633 -29,970
2,293     2,293
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       37,977
b       5,219
c       566,204
d       27
e       10
      -3,760
      497,521
      176,194
      41,144
      8,613
      5,192
      378
      -2,688
      21,537
      1,054
      -7,322
      -29,970
      2,293
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 1,319,623
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
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 right arrow 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) 1 17,364
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 17,364
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 17,364
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 17,486
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 17,486
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 122
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow122 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-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. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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:
round bullet By language in the governing instrument, or
round bullet 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 XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowNY
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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
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
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 addressright arrowN/A
14
The books are in care ofright arrowBAKER TILLY Telephone no.right arrow (212) 697-6900

Located atright arrow66 HUDSON BLVD E - SUITE 2200NEW YORKNY ZIP+4right arrow10001
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, 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 right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-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? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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)? ......................
1a(5)
 
No
(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.) ...............
1a(6)
 
No
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
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
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 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-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))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
Yes
 
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
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
Yes
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
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? .................
5d
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
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?
7a
 
No
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? .........................
8
 
No
Part VII
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
MATTHEW BRONFMAN TRUSTEE
0.00 		0 0 0
C/O BAKER TILLY 66 HUDSON BLVD E -
SUITE 2200
NEW YORK,NY10001
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...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
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
ALMOG GEVA CONSULTING 120,000
487 CUMBERLAND AVENUE
TEANECK,NJ07666
BAKER TILLY US ACCOUNTING 100,205
BAKER TILLY 66 HUDSON BLVD E -
SUITE 2200
NEW YORK,NY10001
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-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 VIII-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.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
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
10,086,786
b
Average of monthly cash balances.......................
1b
481,756
c
Fair market value of all other assets (see instructions)................
1c
5,716,261
d
Total (add lines 1a, b, and c).........................
1d
16,284,803
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
16,284,803
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
244,272
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
16,040,531
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
802,027
Part X
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 IX, line 6..................
1
802,027
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
17,364
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
73,743
c
Add lines 2a and 2b............................
2c
91,107
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
710,920
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
710,920
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
710,920
Part XI
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
2,233,157
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
2,233,157
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 710,920
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 580,104
b From 2019...... 61,736
c From 2020...... 1,144,514
d From 2021...... 107,873
e From 2022...... 1,367,578
f Total of lines 3a through e ........ 3,261,805
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 2,233,157
a Applied to 2022, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 710,920
e Remaining amount distributed out of corpus 1,522,237
5 Excess distributions carryover applied to 2023. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 4,784,042
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		580,104
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		4,203,938
10 Analysis of line 9:
a Excess from 2019.... 61,736
b Excess from 2020.... 1,144,514
c Excess from 2021.... 107,873
d Excess from 2022.... 1,367,578
e Excess from 2023.... 1,522,237
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-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 2023, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
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 IX, 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 XIV
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).)
MATTHEW BRONFMAN
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 right arrow
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 (2023)
Form 990-PF (2023)
Page 11
Part XIV
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

92NY

1395 LEXINGTON AVENUE
NEW YORK,NY10128 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 50,000

AISH HACHAIM- MOONLIGHT GALA

238 E 67TH STREET
NEW YORK,NY10065 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 100,000

AMERICAN FRIENDS OF CHABAD OF THAILAND

80 SHORE ROAD
PORT WASHINGTON,NY11050 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 5,000

AMERICAN FRIENDS OF LIBI

45 BARTLETT CRESCENT
BROOKLINE,MA02446 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 35,000

AMERICAN FRIENDS OF OR NATIONAL MISSIONS

1 ROCKEFELLER PLAZA 2330
NEW YORK,NY10020 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 2,500

AMERICAN FRIENDS OF THE ISRAEL MUSEUM

500 FIFTH AVENUE SUITE 2540
NEW YORK,NY10110 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 25,000

AMERICAN FRIENDS OF THE PHILHARMONIC ORCHESTRA

122 EAST 42ND STREET SUITE 4507
NEW YORK,NY10168 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 25,000

AMERICAN JEWISH COMMITTEE

165 EAST 56TH STREET
NEW YORK,NY10022 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 270,000

AMERICAN MUESUM OF NATURAL HISTORY

200 CENTRAL PARK W
NEW YORK,NY10024 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 2,000

AMERICAN-SCANDANAVIAN FOUNDATION

58 PARK AVENUE
NEW YORK,NY10016 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 1,500

EAGLEBROOK SCHOOL

271 PINE NOOK RD
DEERFIELD,MA01342 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 25,000

FRIENDS OF DUVDEVAN

28555 ORCHARD LAKE ROAD
FARMINGTON,MA48334 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 30,000

HILLEL INTERNATIONAL

800 EIGHTH STREET NW
WASHINGTON,DC20001 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 1,000

HILLEL'S THE FOUNDATION FOR JEWISH CAMPUS LIFE

800 EIGHTH STREET NW
WASHINGTON,DC20001 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 300,000

JGIVE - FRIENDS OF ASOR

24 HEBRON RD JVP MEDIA QUARTER
JERUSALEM   9354212
IS 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 3,600

LA'ARETZ

2 BLUE SLIP
BROOKLYN,NY11222 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 5,000

LIMMUD FSU INTERNATIONAL FOUNDATION

80 CENTRAL PARK WEST
NEW YORK,NY10023 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 150,000

MOMA GIVING

11 WEST 53 STREET
NEW YORK,NY10019 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 1,500

NATIONAL UNION OF ISRAELI STUDENTS

HAMASGER STREET 42 PO BOX 57731
TEL AVIVJAFFA   6157602
IS 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 30,000

OUR PLACE IN NEW YORK INC

PO BOX 297187
BROOKLYN,NY11229 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATIONGENERAL CHARITABLE SUPPORT - NO DESIGNATION 5,000

PARK AVENUE SYNAGOGUE

50 EAST 87TH STREET
NEW YORK,NY10128 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 212,500

ROBIN HOOD

826 BROADWAY 9TH FLOOR
NEW YORK,NY10003 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 500

TAFT SCHOOL DEVELOPMENT

110 WOODBURY ROAD
WATERTOWN,CT06795 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 86,000

THE GEORGE WASHINGTON UNIVERSITY

45155 RESEARCH PLACE SUITE 260
ASHBURN,VA20147 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 2,500

THE HESCHEL SCHOOL

30 WEST END AVENUE
NEW YORK,NY10023 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 500

UN WATCH

1525 29TH STREET NW
WASHINGTON,DC20007 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 500

UNITED JEWISH ASSOCIATION FEDERATION OF NY

130 E 59TH STREET
NEW YORK,NY10022 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 2,500

VENETIAN HERITAGE INC

232 E 59TH ST
NEW YORK,NY10022 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 10,000

WILLIAMS COLLEGE

880 MAIN STREET
WILLIAMTOWN,MA01267 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 250,000

YOUNG MEN'S & YOUNG WOMEN'S HEBREW ASSOC

54 NAGLE AVENUE
NEW YORK,NY10040 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 350,000

ZAKA NORTH INC

1269 41ST STREET
BROOKLYN,NY11218 		NONE 501(C)(3) TAX EXEMPT GENERAL CHARITABLE SUPPORT - NO DESIGNATION 36,000
Total .................................right arrow 3a 2,018,100
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-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 ....     14 233,832  
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 .....     01 114,825  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 1,319,623  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 1,668,280 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,668,280
(See worksheet in line 13 instructions to verify calculations.)
Part XV-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 XV-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 (2023)
Form 990-PF (2023)
Page 13
Part XVI
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 100,205 15,632   84,573

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

TY 2023 ExpenditureResponsibilityStmt
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
JGIVE-FRIEND OF ASOR
  		24 HEBRON RD JVP MEDIA QUATER
JERUSALEM   9354212
IS 		2023-10-12 3,600 GENERAL CHARITABLE SUPPORT - NO DESIGNATION   NO 12/31/2023   TO THE KNOWLEDGE OF THE FOUNDATION, NO PART HAS BEEN USED FOR OTHER THAN ITS INTENDED PURPOSE.
NATIONAL UNION OF ISRAELI STUDENTS
  		HAMASGER STREET 42 PO BOX 57731
TEL AVIV JAFFA   6157602
IS 		2023-10-17 30,000 GENERAL CHARITABLE SUPPORT - NO DESIGNATION   NO 12/31/2023   TO THE KNOWLEDGE OF THE FOUNDATION, NO PART HAS BEEN USED FOR OTHER THAN ITS INTENDED PURPOSE.

TY 2023 InvestmentsCorpStockSchedule
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Name of Stock End of Year Book Value End of Year Fair Market Value
AES CORP 45,679 48,991
ALCOA CORP COM 32,546 41,242
ALPHABET INC CAP STK CL A 21,475 176,009
ALPHABET INC CAP STK CL C 8,494 70,465
ALPHABET INC CL A 189,184 502,884
AMAZON.COM 54,422 94,203
AMERICAN TOWER CORP 77,421 65,196
ANTERO MIDSTREAM CORP 33,632 75,180
APPLE INC 127 578
BANK OF NEW YORK MELLON CORP 34,261 78,075
BARRICK GOLD CORP 50,518 77,787
BAYER AG SPON ADR 68,021 46,168
BERKSHIRE HATHAWAY INC 31,426 63,129
BLACKSTONE GROUP 24,036 130,920
BRUNSWICK CORP 26,169 79,819
CATERPILLAR INC 54,094 118,859
CADIZ INC 19,992 15,243
CHEVRON CORP NEW COM 27,221 27,893
CITIGROUP INC 28,859 29,115
CROWN HLDGS INC COM 90,987 102,496
DANAHER CORP 44,417 91,379
DEERE & CO 20,565 20,393
DUPONT DE NEMOURS INC 10,204 21,694
EATON VANCE GLOBAL MACRO ABSOLUTE - EIGMX 150,710 143,638
ENERGY SELECT SECTOR SPDR 11,257 16,768
FORTINET INC 75,001 89,726
FIDELITY GOVERNMENT PORTFOLIO CLASS SHARES 30,261 30,261
GAMIDA CELL LTD COM 18,132 6,484
GENERAL MOTORS 94,081 101,079
HESS CORP 2,575 20,903
HONEYWELL INTL INC 99,052 155,605
IGENE BIOTECHNOLOGY 1,358 0
INTL BUSINESS MACH 72,886 95,023
ISHARES CORE MSCI EAFE - IEFA 87,383 104,399
ISHARES CORE S&P MIDCAP- IJH 102,603 110,860
ISHARES RUSSELL 2000 ETF - IWM 113,189 163,177
JOHNSON & JOHNSON 37,774 94,044
JOHNSON & JOHNSON 34,263 85,110
JP MORGAN 144,878 383,235
JP MORGAN CHASE & CO 27,923 119,070
JP MORGAN EQUITY TR ETF 27,970 27,490
LAZARD FDS INC 45,650 50,775
LIVE NATION ENTERTAINMENT INC 14,814 34,538
MARSH & MCLENNAN 20,144 123,156
MARINEMAX INC 72,549 100,245
MEDTRONIC 105,843 97,785
MERCK & CO. INC. 76,219 95,174
MICROSOFT CORP 23,051 282,030
MICROSOFT CORP 105,182 389,577
NESTLE A SPONSORED ADR 26,059 56,081
NESTLE SA 4,533 28,964
O REILLY AUTOMOTIVE INC 77,032 183,365
OAKMARK INTL FUND 298,090 370,232
PHILLIP MORRIS INTL 32,990 47,040
PIONEER SERIES TR IV - PMFYX 115,088 114,944
PROLOGIS INC COM 27,723 41,723
PROTERRA INC. 360,000 1,145
HP POINT72 LTD. 1,000,000 1,417,755
SALESFORCE.COM, INC 224,709 246,036
STARWOOD PROPERTY TRUST INC 49,378 52,550
THORNBURG INT'L GROWTH FUND 135,101 142,647
THORNBURG INVT TR INVT INCOME BUILDER FD CL I 52,404 55,189
UNITEDHEALTH GROUP INC 97,057 200,585
VISA INC 126,011 239,001
VERALTO CORP 5,833 10,776
T ROWE PRICE CAP APPRECIATION FD SBI 33,661 34,730
TECK RESOURCES LTD ISIN 2044 26,141 29,251
BWX TECHNOLOGIES INC COM 40,392 55,629
CALIFORNIA RES CORP COM STOCK (CRC) 19,561 25,372
FOMENTO ECONOMICO MEXICANO SAB DE C SPON ADR RP 10 UTS 47,761 79,644
GRUPO TELEVISA S A B SPON ADR REP ORD 87,857 74,429
O-I GLASS INC COM (OI) 84,274 108,911
PG&E CORP COM NPV (PCG) 27,126 42,677
UNILEVER PLC SPON ADR NEW (UL) 74,608 76,938
UNION PAC CORP COM 32,585 38,071
WALMART INC COM 53,553 54,547
ABBOTT LABS 75,835 82,883
BLACKSTONE INC CL A 253,605 315,386
FORTINET INC 37,508 35,703
LAUDER ESTEE COS CL A 82,167 70,785
PALO ALTO NETWORKS INC 74,816 132,991
LABORATORY CORP AMER HLDGS NEW 212,710 232,518
MERCK & CO. INC. 25,034 81,765
GLOBAL X COPPER MINERS 18,645 18,750
ISHARES EDGE MSCI MIN VOL USA 102,380 144,356

TY 2023 InvestmentsOtherSchedule2
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ALPHA TAU MEDICAL LTD ORD SHS AT COST 56,169 45,927
BHB GE LLC AT COST 53,765 68,445
BROADSCALE PT INVESTORS LP AT COST 0 2,336
BROOKDALE GLOBAL OPPORTUNITY FUND AT COST 500,000 945,956
CHARLES LANE HOLDINGS LLC AT COST 130,490 130,490
DILATION PARTNERS LP AT COST 868,523 868,523
JANUS HENDERSON FUNDS GLOBAL LIFE SCIENCES AT COST 15,696 16,999
L & R EXPLORATION VENTURE AT COST 1,250 1,250
L ONE CANAL PLACE, LLC AT COST 9,858 5,961
LAA ASSOCIATES, LLC AT COST 14,975 0
LAA STOUGHTON, LLC AT COST 18,724 2,740
LAT ASSOCIATES, LLC AT COST 9,214 0
LHC LIMITED PARTNERSHIP AT COST 3,886 2,232
LOEB HOLDING CORP A AT COST 54,893 54,893
LOEB HOLDING CORP B AT COST 384,250 384,250
MARKETS ETF AT COST 196,304 207,226
MUSE CAPITAL LP AT COST 328,244 311,583
OVERSEAS ACQUISITION FUND TWO LP AT COST 0 12
RIVER PARTNERE 2006 -- OLIF LLC AT COST 4,522 40,400
RIVER PARTNERS 2001 -- BBI LLC AT COST 146,825 137,368
RIVER PARTNERS 2002 -- NCH LLC AT COST 21,098 19,503
RIVER PARTNERS 2003 -- NEA LLC AT COST 4,131 58,094
RIVER PARTNERS 2004 -- CVL LLC AT COST 18,102 19,876
RIVER PARTNERS 2005 -- NCH2 LLC AT COST 17,842 26,605
RIVER PARTNERS 2006 -- LS LLC AT COST 0 50,730
RIVER PARTNERS 2006 -- WRIF LLC AT COST 0 9,553
RIVER PARTNERS 2007 -- AP LLC AT COST 22,625 61,123
RIVER PARTNERS 2007 -- HPC LLC AT COST 1 28,188
RIVER PARTNERS 2007 -- TCG LLC AT COST 38,800 89,761
TINICUM PARALLEL LP AT COST 1,537,363 1,531,299
TRILANTIC CAPITAL PARTNERS VI (NORTH AMERICA) LP AT COST 351,746 330,506
TENE ART LTD AT COST 11,700 11,700
HEZI COHEN GALLERY AT COST 56,160 56,160
ARTINS AG AT COST 7,500 7,500
GILAD AT COST 21,060 21,060
ELIAV AT COST 35,000 35,000
MAZLIACH AT COST 24,336 24,336
LIFSHIN AT COST 14,040 14,040
BEAR FIGHT, LLC AT COST 100,000 100,000
TARGLMMUNE THERAPEUTICS AG AT COST 287,191 287,191
OPRIS BIOTECHNOLOGIES, LLC AT COST 2 0
FLORIDA BIOTECHNOLOGIES, LLC AT COST 2 0
DELOS INVESTMENT FUND LP AT COST 0 37,535
RIVER PARTNERS 2007 -- AF07 LLC AT COST 0 13,062
RIVER PARTNERS 2006 -- AF06 LLC AT COST 0 25,844
BLACK RIFLE COFFEE CO (BRCC) (AUTHENTIC BRANDS) AT COST 0 113,800
RIVER PARTNERS 2002 -- NHC LLC AT COST 0 1,266

TY 2023 OtherAssetsSchedule
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
UBS X4296 SELECT TREASURY PREFERRED FUND   156,417 156,417


TY 2023 OtherExpensesSchedule
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK FEES 1,122 0   1,122
FROM K-1 ACTIVITIES - NON-DEDUCTIBLE EXP 10 0   0
FILING FEE 750 0   750
MEALS 1,042 0   1,042


TY 2023 OtherIncomeSchedule2
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
INVESTMENT INCOME/LOSS FROM PASS-THROUGH ENTITIES 114,825 114,825 114,825
ORD. INCOME CLASSIFIED AS UBTI FROM PASS-THROUGH ENTITIES   -110,600  
CAP. GAIN CLASSIFIED AS UBTI FROM PASS-THROUGH ENTITIES   -241,676  


TY 2023 OtherLiabilitiesSchedule
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Description Beginning of Year - Book Value End of Year - Book Value
PRESIDENTIAL ESTATES ASSOCIATES 86,036 85,375
LA STOUGHTON, LLC 47,415 0
PARK HILL LANE ASSOCIATES LP 35,030 33,435
RIVER PARTNERS 2006 -- AF06 LLC 4,946 4,756
RIVER PARTNERS 2007 -- AF07 LLC 1,675 1,850
ACQUISITION FUND FOUR LP 1 1
DELOS INVESTMENT FUND LP 32,662 0
ENERGY TRANSFER LP 3,842 0


TY 2023 OtherProfessionalFeesSchedule
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT ADVISORY FEES 43,424 43,424   0
CONSULTING FEES 120,000 0   120,000


TY 2023 TaxesSchedule
Name:
THE TREETOPS FOUNDATION
EIN:
13-4093466
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FIDELITY- FOREIGN TAXES 3,118 3,118   0
FROM PASS-THROUGH K-1S & PTPS - FOREIGN TAXES 1,425 1,425   0
WELLS FARGO- FOREIGN TAXES 318 318   0
FEDERAL TAX 129,418 0   0
UBS - FOREIGN TAXES 2,911 2,911   0
STATE INCOME TAX 50,659 0   0