Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25
Name of foundation
BURTON A ZIPSER AND SANDRA D ZIPSER
FOUNDATION
Number and street (or P.O. box number if mail is not delivered to street address) 31313 NORTHWESTERN HIGHWAY 224
  Room/suite
City or town
FARMINGTON HILLS
State or province
MI
Country  
ZIP or foreign postal code
48334
A Employer identification number

84-4192296
B Telephone number (see instructions)

2489329300
C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$5,447,281J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 175,286 170,158  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 146,325
b Gross sales price for all assets on line 6a 1,945,526
7 Capital gain net income (from Part IV, line 2)... 133,907
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........ 321,611 304,065  
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)......... Click to see attachment
List of Attached Documents:
// Content
23,583 17,687   5,896
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
3,300 3,300   0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
179,105 53,026   126,079
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
335 335   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
54,000 8,100   45,900
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 260,323 82,448   177,875
25 Contributions, gifts, grants paid....... 409,000 409,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 669,323 82,448   586,875
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -347,712
b Net investment income (if negative, enter -0-) 221,617
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
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............. 301,160 68,222 68,222
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)....... 3,986,683 Click to see attachment
List of Attached Documents:
// Content
3,950,515 		5,379,059
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).......... 121,347 Click to see attachment
List of Attached Documents:
// Content
44,404 		0
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) 4,409,190 4,063,141 5,447,281
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 )    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 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 4,409,190 4,063,141
29 Total net assets or fund balances (see instructions)..... 4,409,190 4,063,141
30 Total liabilities and net assets/fund balances (see instructions). 4,409,190 4,063,141
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
4,409,190
2
Enter amount from Part I, line 27a .....................
2
-347,712
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
1,663
4
Add lines 1, 2, and 3 ..........................
4
4,063,141
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
4,063,141
Form 990-PF (2025)
Form 990-PF (2025)
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 LOSS FROM SCHEDULE K-1 20-1928970 P    
b 800 SHS AXIS CAPITAL HOLDINGS   2019-06-19 2025-12-23
c 800 SHS AXIS AJE FOR IRC SEC 1015(A)   2019-06-19 2025-12-23
d 100000 SHS B OF A FINANCE LLC   2024-08-09 2025-02-13
e 50000 SHS B OF A FINANCE LLC   2025-03-12 2025-12-11
75000 SHS BANK OF MONTREAL   2024-12-27 2025-09-30
170000 SHS BANK OF MONTREAL   2025-05-12 2025-11-17
50000 SHS BANK OF MONTREAL   2024-08-01 2025-08-06
150000 SHS BANK OF MONTREAL   2024-10-18 2025-10-22
78000 SHS BANK OF MONTREAL   2024-11-15 2025-11-24
50000 SHS CITIGROUP GMH INC.   2024-08-02 2025-02-06
2000 SHS FORD MOTOR COMPANY   2022-08-08 2025-12-23
50000 SHS GS FINANCE CORP   2022-07-26 2025-07-31
170000 SHS JP MORGAN CHASE FINANCIAL CO   2024-04-29 2025-05-08
60000 SHS JPMORGAN CHASE FINANCIAL CO.   2025-01-10 2025-07-15
60000 SHS JPMORGAN CHASE FINANCIAL CO.   2025-02-24 2025-08-22
50000 SHS JPMORGAN CHASE FINANCIAL CO.   2025-03-21 2025-09-25
75000 SHS MORGAN STANLEY FINANCE LLC   2022-06-22 2025-07-08
75000 SHS ROYAL BANK OF CANADA   2024-08-02 2025-02-06
25000 SHS ROYAL BANK OF CANADA   2024-09-16 2025-03-20
125 SHS ABBOTT LABORATORIES   2021-06-15 2025-11-28
35 SHS ADOBE INC   2024-05-14 2025-05-30
38 SHS AMERIPRISE FINL INC   2023-03-07 2025-11-28
1100 SHS ARRAY DIGITAL INFRASTRUCTURE   2023-12-27 2025-04-22
25 SHS ASML HOLDING N V   2023-11-08 2025-08-29
5300 SHS BLACKROCK TECHNOLOGY AND   2023-12-27 2025-05-30
100 SHS BROADCOM INC   2019-06-19 2025-05-30
50 SHS BROADCOM INC   2019-06-19 2025-07-07
75 SHS CHUBB LTD COM   2019-06-19 2025-04-07
60 SHS DANAHER CORP   2021-01-21 2025-04-22
60 SHS DANAHER AJE FOR IRC SEC 1015(A)   2021-01-21 2025-04-22
30 SHS DANAHER CORP   2019-06-19 2025-04-22
2000 SHS DTE ENERGY COMPANY   2024-12-19 2025-05-12
130 SHS FISERV INC   2021-06-15 2025-12-23
100 SHS FISERV INC   2021-09-07 2025-12-23
200 SHS NVIDIA CORP   2019-06-19 2025-07-07
170 SHS PHILLIPS 66   2021-08-16 2025-08-28
4285 SHS RTS BLACKROCK MULTI SECTOR   2025-08-25 2025-09-03
367 SHS UBER TECHNOLOGIES INC   2020-04-13 2025-05-06
2189 SHS UIT FT CAPITAL STRENGTH BUY   2023-01-26 2025-01-23
4701 SHS UIT FT TECH DIVIDEND BUY WRITE   2023-01-26 2025-01-23
60 SHS UNION PACIFIC CORP   2021-06-15 2025-10-27
80 SHS UNITEDHEALTH GROUP INC   2020-03-25 2025-08-28
64 SHS VISA INC   2019-06-19 2025-05-30
4.504 VNGRD S/T     2025-10-28
129.415 VNGRD S/T     2025-10-28
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       -76,765
b 16,242   20,088 -3,846
c 1,456     1,456
d 100,000   100,000 0
e 50,000   50,000 0
75,000   75,000 0
170,000   170,000 0
50,000   50,000 0
150,000   150,000 0
78,000   78,000 0
50,000   50,000 0
44,819   50,000 -5,181
60,500   56,647 3,853
187,000   170,000 17,000
60,000   60,000 0
60,000   60,000 0
50,000   50,000 0
114,294   75,000 39,294
75,000   75,000 0
25,000   25,000 0
16,134   13,847 2,287
14,496   16,827 -2,331
17,420   12,840 4,580
25,357   21,356 4,001
18,611   15,963 2,648
36,465   33,097 3,368
23,663   2,764 20,899
13,759   1,382 12,377
20,477   11,174 9,303
11,626   12,445 -819
819     819
5,813   3,762 2,051
42,989   44,700 -1,711
8,807   14,194 -5,387
6,775   11,506 -4,731
31,656   767 30,889
22,555   12,193 10,362
450     450
31,299   10,244 21,055
22,498   20,625 1,873
53,826   43,338 10,488
13,020   13,020 0
24,150   24,150 0
23,223   23,223 0
225   225 0
6,477   6,477 0
35,625     35,625
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       -76,765
b       -3,846
c       1,456
d       0
e       0
      0
      0
      0
      0
      0
      0
      -5,181
      3,853
      17,000
      0
      0
      0
      39,294
      0
      0
      2,287
      -2,331
      4,580
      4,001
      2,648
      3,368
      20,899
      12,377
      9,303
      -819
      819
      2,051
      -1,711
      -5,387
      -4,731
      30,889
      10,362
      450
      21,055
      1,873
      10,488
      0
      0
      0
      0
      0
      35,625
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 2 133,907
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 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 3,080
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 3,080
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 3,080
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 6,045
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 6,045
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....... 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10 2,965
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax2,965 Refunded 11 0
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
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. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 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
 
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:
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)
MI
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 2025 or the taxable year beginning in 2025? 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 addressN/A
14
The books are in care ofDAVID M RADNER Telephone no. (248) 932-9300

Located at31313 NORTHWESTERN HIGHWAY SUITE224FARMINGTON HILLSMI ZIP+448334
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 2025, 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
Form 990-PF (2025)
Form 990-PF (2025)
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 2025? .............
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 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
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 2025 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 Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
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 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
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
DAVID M RADNER SEE NOTE ATTACHED DIRECTOR/CHAIRMAN/PRES./TREAS./SECRET.
5.00 		0 0 0
31313 NORTHWESTERN HIGHWAY SUITE
224
FARMINGTON HILLS,MI48334
AARON M RADNER DIRECTOR
1.00 		0 0 0
31313 NORTHWESTERN HIGHWAY SUITE
224
FARMINGTON HILLS,MI48334
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................... 0
Form 990-PF (2025)
Form 990-PF (2025)
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
RADNER LAW FIRM PC LEGAL 148,328
31313 NORTHWESTERN HWY SUITE 224
FARMINGTON HILLS,MI48334
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.........................0
Form 990-PF (2025)
Form 990-PF (2025)
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
5,463,432
b
Average of monthly cash balances.......................
1b
117,889
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
5,581,321
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
5,581,321
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
83,720
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
5,497,601
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
274,880
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
274,880
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
3,080
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
3,080
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
271,800
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
271,800
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
271,800
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, line 26, column (d) ..........
1a
586,875
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
586,875
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 271,800
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021...... 251,704
c From 2022...... 404,887
d From 2023...... 398,824
e From 2024...... 293,831
f Total of lines 3a through e ........ 1,349,246
4Qualifying distributions for 2025 from Part
XI, line 4: $ 586,875
a Applied to 2024, 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 2025 distributable amount..... 271,800
e Remaining amount distributed out of corpus 315,075
5 Excess distributions carryover applied to 2025. 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 1,664,321
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 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		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 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		1,664,321
10 Analysis of line 9:
a Excess from 2021 .... 251,704
b Excess from 2022 .... 404,887
c Excess from 2023 .... 398,824
d Excess from 2024 .... 293,831
e Excess from 2025 .... 315,075
Form 990-PF (2025)
Form 990-PF (2025)
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 2025, enter the date of the ruling ......
 
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) 2025 (b) 2024 (c) 2023 (d) 2022
         
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, 3b, or 3c 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).)
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 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, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2025)
Form 990-PF (2025)
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

CARR CENTER (THE)

4750 WOODWARD AVENUE 3RD FLOOR
DETROIT,MI48207 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 12,000

CARR CENTER (THE)

4750 WOODWARD AVENUE 3RD FLOOR
DETROIT,MI48207 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 3,000

CONDUCTORS GUILD (THE)

15 E MARKET STREET 22
LEESBURG,VA20178 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 2,500

DETROIT CHAMBER OF WINDS & STRINGS

24901 NORTHWESTERN HWY 312
SOUTHFIELD,MI48075 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 8,000

DETROIT INSTITUTE OF ARTS (THE)

5200 WOODWARD AVE
DETROIT,MI48202 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 8,750

DETROIT INSTITUTE OF ARTS (THE)

5200 WOODWARD AVE
DETROIT,MI48202 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 8,750

DETROIT MEDICAL ORCHESTRA

PO BOX 32722
DETROIT,MI48232 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 5,000

DETROIT OPERA

1526 BROADWAY ST
DETROIT,MI48226 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 15,000

DETROIT OPERA

1526 BROADWAY ST
DETROIT,MI48226 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 5,000

DETROIT YOUTH CHOIR

8425 W MCNICHOLS RD
DETROIT,MI48221 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 5,000

DETROIT YOUTH CHOIR

8425 W MCNICHOLS RD
DETROIT,MI48221 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 5,000

FARBER HEBREW DAY SCHOOL

21100 W 12 MILE ROAD
SOUTHFIELD,MI48076 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 4,000

FARBER HEBREW DAY SCHOOL

21100 W 12 MILE ROAD
SOUTHFIELD,MI48076 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 12,000

FRIENDSHIP CIRCLE

6892 WEST MAPLE ROAD
WEST BLOOMFIELD,MI48322 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 6,000

FRIENDSHIP CIRCLE

6892 WEST MAPLE ROAD
WEST BLOOMFIELD,MI48322 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 9,000

FRIENDSHIP CIRCLE

6892 WEST MAPLE ROAD
WEST BLOOMFIELD,MI48322 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 15,000

GILDA'S CLUB

3517 ROCHESTER ROAD
ROYAL OAK,MI48073 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 15,000

INTERNATIONAL CONDUCTORS GUILD

15 E MARKET STREET 22
LEESBURG,VA20178 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 3,000

JEWISH FEDERATION OF GREATER ANN ARBOR

2939 BIRCH HOLLOW DR
ANN ARBOR,MI48108 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 5,000

JEWISH FEDERATION OF GREATER ANN ARBOR

2939 BIRCH HOLLOW DR
ANN ARBOR,MI48108 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 5,000

MCC THEATER

511 W 52ND STREET
NEW YORK,NY10019 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 8,750

MCC THEATER

511 W 52ND STREET
NEW YORK,NY10019 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 8,750

MOSAIC YOUTH THEATRE

2251 ANTIETAM
DETROIT,MI48207 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 10,000

MSU COMMUNITY DETROIT

33 W CIRCLE DR ROOM 102
EAST LANSING,MI48824 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 3,750

MSU COMMUNITY DETROIT

33 W CIRCLE DR ROOM 102
EAST LANSING,MI48824 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 3,750

MSU COMMUNITY EAST LANSING

33 W CIRCLE DR ROOM 102
EAST LANSING,MI48824 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 3,750

MSU COMMUNITY EAST LANSING

33 W CIRCLE DR ROOM 102
EAST LANSING,MI48824 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 3,750

MSU HILLEL

360 CHARLES ST
EAST LANSING,MI48823 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 1,750

MSU HILLEL

360 CHARLES ST
EAST LANSING,MI48823 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 24,250

MSU MARCHING BAND

A240 BILLMAN MUSIC PAVILION MSU
EAST LANSING,MI48824 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 12,500

MSU MARCHING BAND

A240 BILLMAN MUSIC PAVILION MSU
EAST LANSING,MI48824 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 12,500

NATIONAL FALLEN FIREFIGHTERS

16825 S SETON AVE PO DRAWER 498
EMMITSBURG,MD21727 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 6,250

NATIONAL FALLEN FIREFIGHTERS

16825 S SETON AVE PO DRAWER 498
EMMITSBURG,MD21727 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 6,250

NICELY THEATER GROUP

6600 WEST MAPLE ROAD
WEST BLOOMFIELD,MI48322 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 10,000

ORT AMERICA

75 MAIDEN LANE SUITE 10
NEW YORK,NY10038 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 13,750

ORT AMERICA

75 MAIDEN LANE SUITE 10
NEW YORK,NY10038 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 13,750

SHAAREY ZEDEK

27375 BELL ROAD
SOUTHFIELD,MI48034 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 7,500

SHAAREY ZEDEK

27375 BELL ROAD
SOUTHFIELD,MI48034 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 7,500

TEMPLE ISRAEL

5725 WALNUT LAKE ROAD
WEST BLOOMFIELD,MI48323 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF AMERICAN MUSIC INCLUDING NEGLECTED WORKS OF THE PAST. 18,000

TEMPLE ISRAEL

5725 WALNUT LAKE ROAD
WEST BLOOMFIELD,MI48323 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 18,000

THE JCC

6600 WEST MAPLE ROAD
WEST BLOOMFIELD,MI48322 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 6,250

THE JCC

6600 WEST MAPLE ROAD
WEST BLOOMFIELD,MI48322 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 6,250

THE JEWISH HOSPICE & CHAPLAINCY NETWORK

6555 W MAPLE ROAD
WEST BLOOMFIELD,MI48322 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 5,000

THE JEWISH HOSPICE & CHAPLAINCY NETWORK

6555 W MAPLE ROAD
WEST BLOOMFIELD,MI48322 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 15,000

THE ZEKELMAN HOLOCAUST CENTER

28123 ORCHARD LAKE RD
FARMINGTON HILLS,MI48334 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND EXPANSION OF AUDIENCE LISTENING EXPERIENCES OF MUSICAL PIECES, PROMOTION AND RELATED ACTIVITIES IN THE AREAS OF SERIOUS AND CONCERTED MUSICAL PERFORMANCE. 15,000

THE ZEKELMAN HOLOCAUST CENTER

28123 ORCHARD LAKE RD
FARMINGTON HILLS,MI48334 		N/A   TO SUPPORT RESEARCH, PERFORMANCE, PRESERVATION, AND PROMOTION OF JEWISH MUSIC ACTIVITIES IN THE UNITED STATES. 15,000
Total ................................. 3a 409,000
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
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 ....     14 175,286  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 146,325  
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) .. 0 321,611 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
321,611
(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 (2025)
Form 990-PF (2025)
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.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only 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 (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
BURTON A ZIPSER AND SANDRA D ZIPSER
 
FOUNDATION
EIN:
84-4192296
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 3,300 3,300   0

TY 2025 GeneralExplanationAttachment
Name:
BURTON A ZIPSER AND SANDRA D ZIPSER
 
FOUNDATION
EIN:
84-4192296
Identifier Return Reference Explanation
OFFICER COMPENSATION FORM 990-PF; PART VII RADNER LAW FIRM P.C., OF WHICH DAVID RADNER IS A SHAREHOLDER, RECEIVED FEES FOR SERVICES RENDERED TO THE BURTON A. ZIPSER AND SANDRA D. ZIPSER FOUNDATION.

TY 2025 InvestmentsCorpStockSchedule
Name:
BURTON A ZIPSER AND SANDRA D ZIPSER
 
FOUNDATION
EIN:
84-4192296
Name of Stock End of Year Book Value End of Year Fair Market Value
101.724 ALLSPRING INDEX ASSET ALLOCATION 4,449 3,869
60.683 ALLSPRING INDEX ASSET ALLOCATION 2,014 2,308
89.585 ALLSPRING INDEX ASSET ALLOCATION 3,205 3,407
1541.639 ALLSPRING INDEX ASSET ALLOCATION 56,856 58,629
145.039 ALLSPRING INDEX ASSET ALLOCATION 5,330 5,516
249 ALLSPRING INDEX ASSET ALLOCATION 9,877 9,469
286.349 ALLSPRING INDEX ASSET ALLOCATION 10,941 10,890
2500 AMERICAN NATIONAL GROUP 62,500 62,525
2000 ATHENE HOLDING LTD 49,102 49,200
175000 BANK OF MONTREAL DUE 2/25/28 175,000 174,318
320000 BANK OF MONTREAL DUE 11/17/28 320,000 317,504
78000 BANK OF MONTREAL DUE 12/11/28 78,000 77,002
75000 CITIGROUP GMH INC. DUE 10/6/28 75,000 75,728
50000 CITIGROUP INC DUE 12/31/2149 49,506 52,480
3000 CMS ENERGY CORPORATION 69,049 69,450
105 CONSENSUS CLOUD SOLUTIONS INC 3,285 2,291
60000 GS FINANCE CORP DUE 9/8/28 60,771 60,858
60000 HSBC USA INC. 60,000 60,054
115000 J.P MORGAN CHASE FINANCIAL CO DUE 7/16/30 115,000 124,522
90000 J.P MORGAN CHASE FINANCIAL CO DUE 06/01/2029 90,000 111,735
50000 MORGAN STANLEY FINANCE LLC DUE 8/11/28 50,000 48,803
60000 MORGAN STANLEY FINANCE LLC DUE 9/8/28 60,000 57,387
100000 MORGAN STANLEY PRIVATE BK 61768UFJ1 102,713 129,500
50000 PNC FINANCIAL SERVICES GROUP 49,881 51,620
65000 PPL CAP FDG INC 64,989 63,522
50000 REINSURANCE GROUP AMER INC 48,964 47,998
2000 RIVERNORTH OPPORTUNITIES FD 6% 48,914 45,766
50000 ROYAL BANK OF CANADA DUE 07/01/2027 50,715 60,655
40000 ROYAL BANK OF CANADA SUBORDINATED NOTE 39,526 39,093
1000 EQUITABLE HOLDINGS INC CALLABLE 16,296 16,270
2000 NEXTERA ENERGY CAPITAL HOLDINGS DUE 6/1/2085 50,000 50,640
80 ABBVIE INC 7,248 18,279
50 ACCENTURE PLC IRELAND SHS CL A 16,364 13,415
150 ADVANCED MICRO DEVICES INC COM 14,878 32,124
1386.01 ALLSPRING INDEX (FKA WF INDEX ASSET ALLOCATION FUND) 50,174 52,710
838.254 ALLSPRING INDEX (FKA WF INDEX ASSET ALLOCATION FUND) 32,396 31,879
3700 ALLSPRING MULTI SECTOR INCOME FUND 34,906 34,410
520 ALPHABET INC 36,568 162,760
480 AMAZON.COM INC 59,310 110,794
1000 AMERICAN FINANCIAL GROUP 23,430 21,550
80 AMERICAN TOWER CORPORATION REIT 18,800 14,046
85 ANALOG DEVICES INC 14,276 23,052
350 APPLE INC 27,641 95,151
9750 BLACKROCK CREDIT ALLOCATION INCOME TRUST 97,773 105,593
15 BLACKROCK INC COMMON STOCK 10,495 16,055
4285 BLACKROCK MULTI SECTOR INCOME TR COM 62,243 55,962
3415.853 BLACKROCK SUSTAINABLE 66,376 80,648
325 BOSTON SCIENTIFIC CORP 13,858 30,989
1700 BRIGHTHOUSE FINANCIAL INC 36,813 25,925
450 BROADCOM INC 12,468 155,745
100 CHEVRON CORPORATION 9,053 15,241
350 CHIPOTLE MEXICAN GRILL INC COMMON STOCK 14,556 12,950
3200 COHEN & STEERS LIMITED 59,881 67,744
332 ENBRIDGE INC 10,495 15,880
20000 EVEREST REINS HLDGS 19,115 18,746
120 EXXON MOBIL CORP 12,446 14,441
1200 FORD MOTOR CO DUE 2059 24,752 24,744
1141.031 HOTCHKIS & WILEY FDS VALUE OPPORTUNITIES FUND CL I 25,011 47,090
551.926 HOTCHKIS & WILEY FDS VALUE OPPORTUNITIES FUND CL I 19,867 22,778
30 INTUIT INC 12,251 19,873
140 JOHNSON & JOHNSON COM 20,602 28,973
150 JPMORGAN CHASE & CO 13,607 48,333
60 LINDE PLC 11,492 25,583
8994.06 LORD ABBETT BOND DEBENTURE FUND CLASS I 62,414 65,117
154 MASTERCARD INC 46,881 87,916
55 MCDONALDS CORP 10,135 16,810
40 META PLATFORMS INC CLASS A COMMON STOCK 11,862 26,404
489.752 MFS MID CAP VALUE 10,118 15,275
251.964 MFS MID CAP VALUE 7,821 7,859
420 MICROSOFT CORP 76,702 203,120
1571.074 NATIXIS ADVISOR FDS 49,128 54,375
15000 NEXTERA ENERGY CAP HLDGS INC DUE 05/01/2079 14,175 15,137
1600 NVIDIA CORP 14,232 298,400
147 ORACLE CORPORATION 12,992 28,652
360 PALO ALTO NETWORKS INC 24,458 66,312
15 PARKER HANNIFIN CORP 2,490 13,184
55 PARKER HANNIFIN CORP 15,460 48,343
1302.95 PARNASSUS FDS VALUE EQUITY FUND INSTL SHARES 61,916 72,718
80 PROCTER & GAMBLE CO 10,341 11,465
50 PROGRESSIVE CORP-OHIO 11,849 11,386
105 PROLOGIS INC 13,008 13,404
500 QUALCOMM INC 39,803 85,525
40 S&P GLOBAL INC COM 16,088 20,904
236 SALESFORCE.COM INC 41,711 62,519
80 SAREPTA THERAPEUTICS INC 11,811 1,722
60 SHERWIN WILLIAMS CO 15,329 19,442
243 TAIWAN SEMICONDUCTOR MFG CO LTD 12,502 73,845
55 THERMO FISHER SCIENTIFIC INC 18,599 31,870
220 TJX COMPANIES INC NEW 15,053 33,794
10 TRANSDIGM GROUP INCORPORATED 11,502 13,299
2257 UIT FT CAPITAL STRENGTH 20,624 21,507
5396 UIT FT TECH DIVIDEND DUE 01/22/2025 49,401 52,023
15000 US BANCORP DEL DUE 12/31/2149 13,500 15,034
200 VISA INC 38,364 70,142
6278.958 INDEX AMERICAN CONSERVATIVE GROWTH & INC 80,118 89,224
1,876.655 SUBFX CARILLON REAMS UNCONSTRAINED BOND CL I 23,926 23,683
208.061 SPLV INVESCO S&P 500 LOW VOLATILITY ETF 13,231 14,860
250.000 IGLB ISHARES 10+ YEAR INVESTMENT GRADE CORP BOND ETF 13,336 12,613
1,120.094 TFLO ISHARES TREASURY FLOATING RATE BOND ETF 56,608 56,520
2,950.465 AOK ISHARES CORE 112,324 118,402
1,381.993 FLRN STATE STREET SPDR 42,245 42,469
1,536.423 USFR WISDOMTREE FLOATING RATE TREASURY ETF 77,430 77,313

TY 2025 InvestmentsOtherSchedule2
Name:
BURTON A ZIPSER AND SANDRA D ZIPSER
 
FOUNDATION
EIN:
84-4192296
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
INVESTMENT IN HATTERAS CORE ALTERNATIVES FUND, L.P. AT COST 44,404 0

TY 2025 LegalFeesSchedule
Name:
BURTON A ZIPSER AND SANDRA D ZIPSER
 
FOUNDATION
EIN:
84-4192296
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL - HONIGMAN 23,583 17,687   5,896


TY 2025 OtherExpensesSchedule
Name:
BURTON A ZIPSER AND SANDRA D ZIPSER
 
FOUNDATION
EIN:
84-4192296
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ADMINISTRATIVE EXPENSES 54,000 8,100   45,900


TY 2025 OtherIncreasesSchedule
Name:
BURTON A ZIPSER AND SANDRA D ZIPSER
 
FOUNDATION
EIN:
84-4192296
Description Amount
NET AMORTIZATION/ACCRETION OF BOND PREMIUM/DISCOUNT AND IRC 1015(A) AJES 1,663


TY 2025 OtherProfessionalFeesSchedule
Name:
BURTON A ZIPSER AND SANDRA D ZIPSER
 
FOUNDATION
EIN:
84-4192296
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES - RADNER 148,328 22,249   126,079
INVESTMENT MANAGEMENT FEES 30,777 30,777   0


TY 2025 TaxesSchedule
Name:
BURTON A ZIPSER AND SANDRA D ZIPSER
 
FOUNDATION
EIN:
84-4192296
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAX PAID 335 335   0