-
TIN:
Form
990-PF
Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to
www.irs.gov/Form990PF
for instructions and the latest information.
OMB No. 1545-0047
20
24
Open to Public Inspection
For calendar year 2024, or tax year beginning
01-01-2024
, and ending
12-31-2024
Name of foundation
GEMSY ZAY FOUNDATION INC
Number and street (or P.O. box number if mail is not delivered to street address)
C/O ZVI GUTTMAN PO BOX 32308
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BALTIMORE
,
MD
21282
A Employer identification number
52-2135417
B
Telephone number (see instructions)
(410) 580-0500
C
If exemption application is pending, check here
G
Check all that apply:
Initial return
Initial return of a former public charity
Final return
Amended return
Address change
Name change
D 1.
Foreign organizations, check here.............
2
. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
If private foundation status was terminated
under section 507(b)(1)(A), check here .......
H
Check type of organization:
Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust
Other taxable private foundation
F
If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here .......
I
Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)
$
92,095
J
Accounting method:
Cash
Accrual
Other (specify)
(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)
1
Contributions, gifts, grants, etc., received (attach schedule)
104,615
2
Check
.............
3
Interest on savings and temporary cash investments
7
7
7
4
Dividends and interest from securities
...
5a
Gross rents
............
b
Net rental income or (loss)
6a
Net gain or (loss) from sale of assets not on line 10
b
Gross sales price for all assets on line 6a
7
Capital gain net income (from Part IV, line 2)
...
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)
.......
12
Total.
Add lines 1 through 11
........
104,622
7
7
13
Compensation of officers, directors, trustees, etc.
14
Other employee salaries and wages
......
15
Pension plans, employee benefits
.......
16a
Legal fees (attach schedule)
.........
b
Accounting fees (attach schedule)
.......
c
Other professional fees (attach schedule)
....
17
Interest
...............
18
Taxes (attach schedule) (see instructions)
...
19
Depreciation (attach schedule) and depletion
...
20
Occupancy
..............
21
Travel, conferences, and meetings
.......
22
Printing and publications
..........
23
Other expenses (attach schedule)
.......
24
Total operating and administrative expenses.
Add lines 13 through 23
..........
0
0
0
25
Contributions, gifts, grants paid
.......
111,250
111,250
26
Total expenses and disbursements.
Add lines 24 and 25
111,250
0
111,250
27
Subtract line 26 from line 12:
a
Excess of revenue over expenses and disbursements
-6,628
b
Net investment income
(if negative, enter -0-)
7
c
Adjusted net income
(if negative, enter -0-)
...
7
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X
Form
990-PF
(2024)
Form 990-PF (2024)
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
1
Cash—non-interest-bearing
.............
98,723
92,095
92,095
2
Savings and temporary cash investments
.........
3
Accounts receivable
Less: allowance for doubtful accounts
4
Pledges receivable
Less: allowance for doubtful accounts
5
Grants receivable
.................
6
Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)
.....
7
Other notes and loans receivable (attach schedule)
Less: allowance for doubtful accounts
8
Inventories for sale or use
..............
9
Prepaid expenses and deferred charges
..........
10a
Investments—U.S. and state government obligations (attach schedule)
b
Investments—corporate stock (attach schedule)
.......
c
Investments—corporate bonds (attach schedule)
.......
11
Investments—land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
12
Investments—mortgage loans
.............
13
Investments—other (attach schedule)
..........
14
Land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
15
Other assets (describe
)
16
Total assets
(to be completed by all filers—see the
instructions. Also, see page 1, item I)
98,723
92,095
92,095
17
Accounts payable and accrued expenses
..........
18
Grants payable
.................
19
Deferred revenue
.................
20
Loans from officers, directors, trustees, and other disqualified persons
21
Mortgages and other notes payable (attach schedule)
......
22
Other liabilities (describe
)
23
Total liabilities
(add lines 17 through 22)
.........
0
Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24
Net assets without donor restrictions
...........
98,723
92,095
25
Net assets with donor restrictions
............
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26
Capital stock, trust principal, or current funds
........
27
Paid-in or capital surplus, or land, bldg., and equipment fund
28
Retained earnings, accumulated income, endowment, or other funds
29
Total net assets or fund balances
(see instructions)
.....
98,723
92,095
30
Total liabilities and net assets/fund balances
(see instructions)
.
98,723
92,095
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
98,723
2
Enter amount from Part I, line 27a
.....................
2
-6,628
3
Other increases not included in line 2 (itemize)
3
4
Add lines 1, 2, and 3
..........................
4
92,095
5
Decreases not included in line 2 (itemize)
5
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29
.
6
92,095
Form
990-PF
(2024)
Form 990-PF (2024)
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.)
1a
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
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
b
c
d
e
2
Capital gain net income or (net capital loss)
If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7
2
3
Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8
...................
3
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a
Exempt operating foundations described in section 4940(d)(2), check here
and enter “N/A" on line 1.
Date of ruling or determination letter:
(attach copy of letter if necessary–see instructions)
1
0
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
3
Add lines 1 and 2
...........................
3
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
6
Credits/Payments:
a
2024 estimated tax payments and 2023 overpayment credited to 2024
6a
b
Exempt foreign organizations—tax withheld at source
......
6b
c
Tax paid with application for extension of time to file (Form 8868)
...
6c
d
Backup withholding erroneously withheld
..........
6d
7
Total credits and payments. Add lines 6a through 6d
..............
7
8
Enter any
penalty
for underpayment of estimated tax.
Check here
if Form 2220 is attached.
8
9
Tax due.
If the total of lines 5 and 8 is more than line 7, enter
amount owed
.......
9
10
Overpayment.
If line 7 is more than the total of lines 5 and 8, enter the
amount overpaid
...
10
11
Enter the amount of line 10 to be:
Credited to 2025 estimated tax
Refunded
11
Form
990-PF
(2024)
Form 990-PF (2024)
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.
$
(2)
On foundation managers.
$
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.
$
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 XIV.
.................................
7
Yes
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
MD
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 2024 or the taxable year beginning in 2024? 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 address
N/A
14
The books are in care of
ZVI GUTTMAN
Telephone no.
(410) 580-0500
Located at
PO BOX 32308
BALTIMORE
MD
ZIP+4
21282
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of
Form 1041
—check here
.........
and enter the amount of tax-exempt interest received or accrued during the year
........
15
16
At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over
Yes
No
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
Form
990-PF
(2024)
Form 990-PF (2024)
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
........
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 2024?
.............
1d
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?
....................
2a
No
If "Yes," list the years
20
,
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.
20
,
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 2024 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 2024.)
.....................
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 2024?
..
4b
No
Form
990-PF
(2024)
Form 990-PF (2024)
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)
No
(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
c
Organizations relying on a current notice regarding disaster assistance check
.........
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
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?
.............................
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
ZVI GUTTMAN
DIRECTOR
000.00
0
0
0
PO BOX 32308
BALTIMORE
,
MD
21282
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
...................
Form
990-PF
(2024)
Form 990-PF (2024)
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
NONE
Total
number of others receiving over $50,000 for professional services
.............
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
N/A
2
All other program-related investments. See instructions.
3
Total.
Add lines 1 through 3
.........................
Form
990-PF
(2024)
Form 990-PF (2024)
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
0
b
Average of monthly cash balances
.......................
1b
95,414
c
Fair market value of all other assets (see instructions)
................
1c
0
d
Total
(add lines 1a, b, and c)
.........................
1d
95,414
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
95,414
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions)
.............................
4
1,431
5
Net value of noncharitable-use assets.
Subtract line 4 from line 3.
............
5
93,983
6
Minimum investment return.
Enter 5% (0.05) of line 5
................
6
4,699
Part X
Distributable Amount
(see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here
and do not complete this part.)
1
Minimum investment return from Part IX, line 6
..................
1
4,699
2a
Tax on investment income for 2024 from Part V, line 5
.......
2a
b
Income tax for 2024. (This does not include the tax from Part V.)
...
2b
c
Add lines 2a and 2b
............................
2c
3
Distributable amount before adjustments. Subtract line 2c from line 1
............
3
4,699
4
Recoveries of amounts treated as qualifying distributions
................
4
5
Add lines 3 and 4
............................
5
4,699
6
Deduction from distributable amount (see instructions)
.................
6
7
Distributable amount
as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1
...
7
4,699
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
111,250
b
Program-related investments—total from Part VIII-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 XII, line 4.
.......
4
111,250
Form
990-PF
(2024)
Form 990-PF (2024)
Page
9
Part XII
Undistributed Income
(see instructions)
(a)
Corpus
(b)
Years prior to 2023
(c)
2023
(d)
2024
1
Distributable amount for 2024 from Part X, line 7
4,699
2
Undistributed income, if any, as of the end of 2024:
a
Enter amount for 2023 only
.......
b
Total for prior years:
20
,
20
,
20
3
Excess distributions carryover, if any, to 2024:
a
From 2019
......
103,463
b
From 2020
......
127,560
c
From 2021
......
102,697
d
From 2022
......
144,622
e
From 2023
......
172,844
f
Total
of lines 3a through e
........
651,186
4
Qualifying distributions for 2024 from Part
XI, line 4:
$
111,250
a
Applied to 2023, 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 2024 distributable amount
.....
4,699
e
Remaining amount distributed out of corpus
106,551
5
Excess distributions carryover applied to 2024.
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6
Enter the net total of each column as
indicated below:
a
Corpus. Add lines 3f, 4c, and 4e. Subtract line 5
757,737
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions
.............
f
Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025
..........
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 2019 not
applied on line 5 or line 7 (see instructions)
...
103,463
9
Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a
......
654,274
10
Analysis of line 9:
a
Excess from 2020
....
127,560
b
Excess from 2021
....
102,697
c
Excess from 2022
....
144,622
d
Excess from 2023
....
172,844
e
Excess from 2024
....
106,551
Form
990-PF
(2024)
Form 990-PF (2024)
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 2024, enter the date of the ruling
......
b
Check box to indicate whether the organization is a private operating foundation described in section
4942(j)(3)
or
4942(j)(5)
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)
2024
(b)
2023
(c)
2022
(d)
2021
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.)
1
Information Regarding Foundation Managers:
a
List 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).)
b
List 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.
2
Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here
if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
a
The name, address, and telephone number or email address of the person to whom applications should be addressed:
b
The form in which applications should be submitted and information and materials they should include:
c
Any submission deadlines:
d
Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form
990-PF
(2024)
Form 990-PF (2024)
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)
a
Paid during the year
BAIS ULPANABAIS ARON
1070 38TH ST STE 5
BROOKLYN
,
NY
11219
EDUCATION
200
BAIS MEDRASH & MESIVTA OF BALTIMORE
6823 OLD PIMLICO ROAD
BALTIMORE
,
MD
21209
EDUCATION
2,200
AFO KINDESS AND CHARITY
405 AVE F
BROOKLYN
,
NY
11218
NONE
NONE
RELIGIOUS
180
AFO TAHARAS HAMISHPACHA
4403 15TH AVE STE 445
BROOKLYN
,
NY
11219
NONE
NONE
RELIGIOUS
500
AGUDAH OF MARYLAND
23 WALKER AVENUE
BALTIMORE
,
MD
21208
NONE
NONE
RELIGIOUS
1,240
AGUDATH ISRAEL CHARITY FUND
6200 PARK HEIGHTS AVENUE
BALTIMORE
,
MD
21215
NONE
NONE
CHARITY
5,838
AGUDATH ISRAEL OF AMERICA
42 BROADWAY 14TH FL
NEW YORK
,
NY
10004
NONE
NONE
RELIGIOUS
72
AGUDATH ISRAEL OF BALTIMORE
6200 PARK HEIGHTS AVENUE
BALTIMORE
,
MD
21215
NONE
NONE
RELGIOUS
68
AGUDATH ISRAEL OF GREENSPRING
6107 GREENSPRING AVENUE
BALTIMORE
,
MD
21209
NONE
NONE
RELIGIOUS
10,865
AHAVAS ISRAEL CHARITY FUND
115 SUDBROOK LANE
PIKESVILLE
,
MD
21208
NONE
NONE
CHARITY
331
AMERICAN FRIENDS OF KOIDENOV INC
6301 LINCOLN AVE
BALTIMORE
,
MD
21209
NONE
NONE
RELIGOUS
5,430
BAIS YAAKOV
11111 PARK HEIGHTS AVENUE
OWINGS MILLS
,
MD
21117
NONE
NONE
EDUCATION
50
CHAI LIFELINE
151 W 30TH ST THIRD FL
NEW YORK
,
NY
10001
NONE
NONE
CHARITY
50
CHILD LIFE SOCIETY
1347 43RD ST
BROOKLYN
,
NY
11219
NONE
NONE
CHARITY
2,000
CHOFETZ CHAIM HERITAGE FOUNDATION
361 SPOOK ROCK ROAD
SUFFERN
,
NY
10901
NONE
NONE
RELIGIOUS
150
CONG BAIS YAKOV YOSEF OSTROW
5 RIDGEWAY TER
WESLEY HILLS
,
NY
10977
NONE
NONE
RELIGIOUS
400
CONGREGATION DOREG
814 EAST 3RD STREET
BROOLYN
,
NY
112185702
NONE
NONE
RELIGIOUS
250
HATZALAH OF BALTIMORE
2930 TANEY RD
BALTIMORE
,
MD
21209
NONE
NONE
CHARITY
675
HATZOLA DAROM
1274 49TH ST
BROOKLYN
,
NY
11219
NONE
NONE
CHARITY
500
INSTITUTE FOR DAYANIM
5520 COLLEEN ST
OAK PARK
,
MI
48237
NONE
NONE
EDUCATION
600
MERCAZ TORAH UTEFILA
6500 BAYTHORNE RD
BALTIMORE
,
MD
21209
NONE
NONE
RELIGIOUS
414
MONTESSORI TORAH
4615 LOWE RD
LOUISVILLE
,
KY
40220
NONE
NONE
EDUCATION
150
MOSDOS BOTOSHAM
1148 49TH ST
BROOKLYN
,
NY
11219
NONE
NONE
RELIGIOUS
2,500
MOSDOS NESIVOS SHALOM
14 MANOR DRIVE
MONSEY
,
NY
11095
NONE
NONE
EDUCATION
1,800
MOSDOS SHOMREI EMUNIM
8 OVERHILL ROAD
MONSEY
,
NY
10952
NONE
NONE
EDUCATION
500
SHOMREI EMUNA
6221 GREENSPRING AVE
BALTIMORE
,
MD
21209
NONE
NONE
RELIGIOUS
884
SHUVU RETURN
5218 16TH AVENUE
BROOKLYN
,
NY
11204
NONE
NONE
RELIGIOUS
750
SLABODKA YESHIVA
5722 15TH AVE
BROOKLYN
,
NY
11219
NONE
NONE
EDUCATION
225
TALMUDICAL ACADEMY
4445 OLD COURT ROAD
BALTIMORE
,
MD
21208
NONE
NONE
EDUCATION
15,875
THE CHESED FUND
7045 N RIDGEWAY
LINCOLNWOOD
,
IL
60712
NONE
NONE
CHARITY
3,448
TIFERES YAAKOV
6 SHOSHANNA DRIVE
LAKEWOOD
,
NJ
08701
NONE
NONE
RELIGIOUS
2,250
TOIREMORG
5314 16TH AVE 298
BROOKLYN
,
NY
11204
NONE
NONE
RELIGIOUS
155
TZIR CHESED
688 ADAMS AVE
WEST HEMPSTEAD
,
NY
11552
NONE
NONE
CHARITY
500
YAD TOMAECH
1520 39TH ST
BROOKLYN
,
NY
11218
NONE
NONE
CHARITY
400
YESHIVA AVIR YAAKOV
766 N MAIN ST
SPRING VALLEY
,
NY
10977
NONE
NONE
EDUCATION
1,200
YESHIVA TORAT EMET
11330 BRAESRIDGE DR
HOUSTON
,
TX
77071
NONE
NONE
EDUCATION
56
BETH JACOB HACHASIDI
5610 12TH AVE
IN BEITAR ILLIT
BROOKLYN
,
NY
11219
CHARITY
500
CONGREGATION CHOCHMAS ELIEZER
1227 41ST STREET
BROOKLYN
,
NY
11218
RELIGIOUS
150
KESER DOVID
10 CELLER ROAD
EDISON
,
NJ
08817
EDUCATION
100
KNESSET MORDECHAI
1545 E 9TH STREET
BROOKLYN
,
NY
11230
RELIGIOUS
250
MESIVTA OF LONG BEACH
205 W BEECH STREET
LONG BEACH
,
NY
11561
EDUCATION
36
OHEL YISROEL
3612 SHANNON ROAD
CLEVELAND HEIGHTS
,
OH
44118
RELIGIOUS
250
OHR ELCHANAN
960 W COUNTY LINE ROAD
LAKEWOOD
,
NJ
08701
EDUCATION
125
YAGDIL TORAH
383 KINGSTON AVE ROOM 188
BROOKLYN
,
NY
11213
CHARITY
100
AFO KOLLEL LIMUD HATORAH
3116 AVENUE L
BROOKLYN
,
NY
11210
EDUCATION
200
AHAVAS CHAIM
7201 PARK HEIGHTS AVENUE
PIKESVILLE
,
MD
21208
RELIGIOUS
50
BAIS YOSEF CHAIM
1662 50TH STREET
BROOKLYN
,
NY
11204
CHARITY
625
BAS MELECH
7106 MILFORD INDUSTRIAL
BOULEVARD
PIKESVILLE
,
MD
21208
EDUCATION
36
BHOH- BAIS HAKNESSES OHR HACHAIM
3120 CLARKS LANE
BALTIMORE
,
MD
21209
RELIGIOUS
26,000
BIKE 4 CHAI
5 AIRPORT ROAD
LAKEWOOD
,
NJ
08701
CHARITY
257
BINYAN YERUSHALAYIM
1274 9TH STREET STE248
BROOKLYN
,
NY
11219
CHARITY
400
CAUSE MATCH LLC
UNKNOWN
DENVER
,
CO
80212
CHARITY
1,200
CHARIDYCOM
10002 DEAN STREET
BROOKLYN
,
NY
11238
CHARITY
150
CHAZKEINU
3402 HATTON ROAD
PIKESVILLE
,
MD
21208
CHARITY
19
CONGREGATION AISH KODESH BALTIMORE
6207 IVYMOUNT ROAD
BALTIMORE
,
MD
21209
RELIGIOUS
76
CONGREGATION DEGEL ISRAEL
1120 COLUMBIA AVENUE
LANCASTER
,
PA
17603
RELIGIOUS
225
CONGREGATION PISCHEI SHEARIM
5 CABINFIELD CIRCLE
LAKEWOOD
,
NJ
08701
RELIGIOUS
500
CONGREGATION SHAARAY TEFILA
971 NE 172ND STREET
NMB
,
FL
33162
RELIGIOUS
26
DIAL A REBBI
104-70 QUEENS BLVDST 243
FOREST HILLS
,
NY
11375
RELIGIOUS
37
GEMILAS CHESED
1400 SUMMIT STREET
WHITE OAK
,
PA
15131
CHARITY
1,600
HATZALAH EMS - LAKEWOOD
501 W COUNTY LINE ROAD
LAKEWOOD
,
NJ
08701
CHARITY
54
IRGUN SHIUREI TORAH
1601 48TH STREET
BROOKLYN
,
NY
11204
EDUCATION
50
KAMINETZ YESHIVA
1904 AVENUE N
BROOKLYN
,
NY
11230
EDUCATION
675
KEHAL TORAS CHAIM
2201 AVENUE L
BROOKLYN
,
NY
11210
RELIGIOUS
400
KEREN OLAM HATORAH
C/O R' SHIMON GLICK
810 7TH AVE 28TH FLOOR
NEW YORK
,
NY
10019
EDUCATION
228
KEREN ZICHRON YAE
UNKNOWN
BALTIMORE
,
MD
21208
CHARITY
100
LADIES BIKUR CHOLIM
545 BEDFORD AVENUE
BROOKLYN
,
NY
11211
CHARITY
1,600
LENEFESH TIDRESHENU
4403 15TH AVE STE 354
BROOKLYN
,
NY
11219
CHARITY
600
MESOROS ROCHEL LEAH
800 ROCKAWAY AVENUE
LAKEWOOD
,
NJ
08701
EDUCATION
50
MESORES HATORAH
40 NEIMANN ROAD
LAKEWOOD
,
NJ
08701
EDUCATION
10
MOADIM B'SIMCHA
212 2ND ST 403
LAKEWOOD
,
NJ
08701
CHARITY
4,398
MOSDOS BETH JOSEPH TZVI
543 BEDFORD AVENUE
BROOKLYN
,
NY
11211
EDUCATION
500
MOSDOS KEHAL CHASSIDIM
6004 PARK HEIGHTS AVENUE
BALIMORE
,
MD
21215
RELIGIOUS
19
NACHALAS SHIMON
6132 N DRAKE AVE
CHICAGO
,
IL
60659
CHARITY
200
NACHLAS YISROEL
1441 OAKWOOD AVE
LAKEWOOD
,
NJ
08701
CHARITY
100
NOAM ELIMELECH
41 CHEVRON RD UNIT 202
MONROE
,
NY
10950
CHARITY
250
OHR SAMEACH
1399 CONEY ISLAND AVE
BROOKLYN
,
NY
11230
EDUCATION
300
OUNCSYYACHAD
40 RECTOR ST
NEW YORK
,
NY
10006
RELIGIOUS
21
PROJECT YEDID
7 CHRCH LANE
PIKESVILLE
,
MD
21208
CHARITY
61
RABBINICAL SEMINARY OF AMERICA
76-01 147TH ST
FLUSHING
,
NY
11367
EDUCATION
120
RDF - SIC
UNKNOWN
BALTIMORE
,
MD
21215
CHARITY
100
RI TORAH NETWORK
450 ELMGROVE AVENUE
PROVIDENCE
,
RI
02906
EDUCATION
54
SAR SHALOM
711 WEST MAIN ST PMB 134
OVILLA
,
TX
75154
RELIGIOUS
1,200
SHINUN V'CHAZARA
54 TAAFE PLACE
BROOKLYN
,
NY
11205
EDUCATION
200
SHOMREI MISHMERES HAKODESH
2821 W STRATHMORE AVE
BALTIMORE
,
MD
21209
RELIGIOUS
150
TEAM LIFELINE
5 AIRPORT ROAD
LAKEWOOD
,
NJ
08701
CHARITY
18
TORAH INSTITUTE
35 ROSEWOOD LANE
OWINGS MILLS
,
MD
21117
EDUCATION
75
WITS
WISCONSIN INSTITUTE FOR TORAH STUDIES
3288 N LAKE DR
MILWAUKEE
,
WI
53211
EDUCATION
54
YDT DETROIT
21550 W 12 MILE ROAD
SOUTHFIELD
,
MI
48076
EDUCATION
100
YESHIVA ELEMENTARY SCHOOL- MILWAUKE
5115 W KEEFE AVE
MILWAUKEE
,
WI
53216
EDUCATION
56
YESHIVA OF PITTSBURGH
2100 WIGTMAN ST
PITTSBURGH
,
PA
15217
EDUCATION
43
YESHIVA OF SPRING VALLEY
142 GRANDVIEW AVE
MONSEY
,
NY
10952
EDUCATION
50
YESHIVA OHR HATORAH
3506 BANCROFT RD
BALTIMORE
,
MD
21215
EDUCATION
50
YESHIVA TORAH VODAATH
425 E 9TH ST
BROOKLYN
,
NY
11218
EDUCATION
25
YESHIVAS TORAS SIMCHA
110 SUDBROOK LANE
PIKESVILLE
,
MD
21208
EDUCATION
25
YOUNG ISRAEL OF GREATER MIAMI
990 NE 171 ST
MIAMI
,
FL
33162
RELIGIOUS
36
HAVERIM MITNADVIM BNEI BRAK
BNEI BRAK
BNEI BRAK
,
ISRAEL
IS
CHARITY
500
KUPAT TZEDAKA OF BEITAR
BEITAR
BEITAR
,
BEITAR ILLIT
IS
CHARITY
2,500
MERCAZ DAF YOMI
NAHAL NOAM ST 9
RAMAT BEIT SHEMESH
,
RAMAT BEIT SHEMES
99620
IS
EDUCATION
160
KESSER TORAH
UNKNOWN
BALTIMORE
,
MD
21215
EDUCATION
500
Total
.................................
3a
111,250
b
Approved for future payment
Total
.................................
3b
Form
990-PF
(2024)
Form 990-PF (2024)
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.)
1
Program service revenue:
(a)
Business code
(b)
Amount
(c)
Exclusion code
(d)
Amount
a
b
c
d
e
f
g
Fees and contracts from government agencies
2
Membership dues and assessments
....
3
Interest on savings and temporary cash
investments
...........
7
4
Dividends and interest from securities
....
5
Net rental income or (loss) from real estate:
a
Debt-financed property
......
b
Not 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
............
9
Net income or (loss) from special events:
10
Gross profit or (loss) from sales of inventory
11
Other revenue:
a
MISC
b
c
d
e
12
Subtotal. Add columns (b), (d), and (e)
..
7
13
Total.
Add line 12, columns (b), (d), and (e)
..................
13
7
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
Explain below how each activity for which income is reported in column (e) of Part 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
(2024)
Form 990-PF (2024)
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?
...........
Yes
No
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.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Yes
No
Signature of officer or trustee
Date
Title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's Signature
Date
Check if self-
employed
PTIN
Firm's name
Firm's EIN
Firm's address
Phone no.
Form
990-PF
(2024)
Additional Data
Software ID:
Software Version:
Form 990PF - Special Condition Description:
Special Condition Description
-
TIN:
TY 2024 InvestmentsCorpStockSchedule
Name:
GEMSY ZAY FOUNDATION INC
EIN:
52-2135417
Name of Stock
End of Year Book Value
End of Year Fair Market Value
CIRCA PIC & PROD CO XXX
CIRCA PIC & PROD CO INTL
METATRON INC NEW