﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xsi:schemaLocation="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2013v4.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2015-10-13T13:52:20-05:00</ReturnTs>
    <TaxPeriodEndDt>2014-11-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1>Berdon LLP</BusinessNameLine1>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1>360 Madison Ave</AddressLine1>
        <City>New York</City>
        <State>NY</State>
        <ZIPCode>10017</ZIPCode>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2013-12-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>201999992</EIN>
      <BusinessName>
        <BusinessNameLine1>THE HOWARD AND MARYAM NEWMAN</BusinessNameLine1>
        <BusinessNameLine2>FAMILY FOUNDATION INC</BusinessNameLine2>
      </BusinessName>
      <InCareOfNm>% MARYAM NEWMAN</InCareOfNm>
      <BusinessNameControlTxt>HOWA</BusinessNameControlTxt>
      <PhoneNum>2126998821</PhoneNum>
      <USAddress>
        <AddressLine1>346 PINE BROOK ROAD</AddressLine1>
        <City>BEDFORD</City>
        <State>NY</State>
        <ZIPCode>10506</ZIPCode>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MARYAM NEWMAN</PersonNm>
      <PersonTitleTxt>TREASURER</PersonTitleTxt>
      <PhoneNum>2128320400</PhoneNum>
      <SignatureDt>2015-10-10</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>JOSEPH REINHARDT</PreparerPersonNm>
      <PTIN>P00197433</PTIN>
      <PhoneNum>2128320400</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2013</TaxYr>
    <BuildTS>2016-02-25 16:41:14Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="11">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>10208066</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>1264460</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>122</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>122</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>202273</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>202273</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>96107</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>410486</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>96107</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>1562962</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>298502</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSch">6520</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>0</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>0</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>6520</AccountingFeesChrtblPrpsAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSch">421</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>256</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>165</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>6941</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>256</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>0</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>6685</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>582855</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>582855</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>589796</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>256</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>0</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>589540</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>973166</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>298246</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>51800</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>74885</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>74885</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>6459324</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestCorpStockSch">7608857</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>10133181</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>199452</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="InvestCorpBondsSch">0</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>0</CorporateBondsEOYFMVAmt>
        <TotalAssetsBOYAmt>6710576</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>7683742</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>10208066</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <RetainedEarningBOYAmt>6710576</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>7683742</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>6710576</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>7683742</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>6710576</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>7683742</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>6710576</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>973166</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>7683742</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>7683742</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>100,000 ANHEUSER-BUSCH CO 4.95%</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2007-10-03</AcquiredDt>
          <SoldDt>2014-01-15</SoldDt>
          <GrossSalesPriceAmt>100000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>100000</CostOrOtherBasisAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>100,000 HSBC FIINANCE CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2007-11-05</AcquiredDt>
          <SoldDt>2014-11-17</SoldDt>
          <GrossSalesPriceAmt>100000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>99452</CostOrOtherBasisAmt>
          <GainOrLossAmt>548</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>548</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>964 STANDARD &amp; POORS DEP RCPT</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2005-05-19</AcquiredDt>
          <SoldDt>2014-11-28</SoldDt>
          <GrossSalesPriceAmt>200057</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>114927</CostOrOtherBasisAmt>
          <GainOrLossAmt>85130</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>85130</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CREDIT SUISSE PRIN PAYMENT</PropertyDesc>
          <HowAcquiredCd>D</HowAcquiredCd>
          <SoldDt>2014-05-16</SoldDt>
          <GrossSalesPriceAmt>10429</GrossSalesPriceAmt>
          <GainOrLossAmt>10429</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>10429</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>96107</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>1078269</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>8200264</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.131492</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>952493</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>7478798</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.127359</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>900336</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>6643660</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.135518</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>519601</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>4752590</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.10933</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>119057</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>3987311</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.029859</DistributionYr5Rt>
        <TotalDistributionRt>0.533558</TotalDistributionRt>
        <AverageDistributionRt>0.106712</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>9235521</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>985541</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>2982</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>988523</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>589540</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>5965</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>5965</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>5965</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>33402</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>33402</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>27437</OverpaymentAmt>
        <AppliedToESTaxAmt>27437</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd referenceDocumentId="BinaryAttach">false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd referenceDocumentId="BinaryAttach">false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd referenceDocumentId="BinaryAttach">false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>NY</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>NOT APPLICABLE</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1>MARYAM NEWMAN</BusinessNameLine1>
        </PersonsWithBooksName>
        <PhoneNum>2128320400</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1>346 PINE BROOK ROAD</AddressLine1>
          <City>BEDFORD</City>
          <State>NY</State>
          <ZIPCode>10506</ZIPCode>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>HOWARD H NEWMAN</PersonNm>
          <USAddress>
            <AddressLine1>346 PINE BROOK ROAD</AddressLine1>
            <City>BEDFORD</City>
            <State>NY</State>
            <ZIPCode>10506</ZIPCode>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ZEENA M MEURER</PersonNm>
          <USAddress>
            <AddressLine1>80 CENTRAL PARK WEST</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10023</ZIPCode>
          </USAddress>
          <TitleTxt>VICE PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.5</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ELIZABETH V NEWMAN</PersonNm>
          <USAddress>
            <AddressLine1>1225 PARK AVENUE</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10028</ZIPCode>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARYAM R NEWMAN</PersonNm>
          <USAddress>
            <AddressLine1>346 PINE BROOK ROAD</AddressLine1>
            <City>BEDFORD</City>
            <State>NY</State>
            <ZIPCode>10506</ZIPCode>
          </USAddress>
          <TitleTxt>TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>N/A</Description1Txt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp />
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>9179375</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>196788</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>9376163</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>9376163</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>140642</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>9235521</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>461776</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>461776</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>5965</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>5965</TotalTaxAmt>
        <DistributableBeforeAdjAmt>455811</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>455811</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>455811</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>589540</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>589540</QualifyingDistributionsAmt>
        <AdjustedQualifyingDistriAmt>589540</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>455811</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2011</PriorYear1Yr>
        <PriorYear2Yr>2010</PriorYear2Yr>
        <PriorYear3Yr>2009</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>0</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>0</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>205256</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>970195</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>1083390</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>2258841</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>589540</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>455811</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>133729</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>2392570</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>2392570</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>0</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>205256</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>970195</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>1083390</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>133729</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp />
      <SupplementaryInformationGrp>
        <ContributingManagerNm>HOWARD NEWMAN</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>SEE ATTACHED STATEMENT</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>SEE ATTACHED STATEMENT</AddressLine1>
            <AddressLine2>VARIOUS</AddressLine2>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10017</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT HIGHER EDUCATION, MEDICAL INSTITUTIONS, THE ARTS, AND LOCAL EXEMPT ORGANIZATIONS, ETC.</GrantOrContributionPurposeTxt>
          <Amt>582855</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>582855</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>122</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>202273</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncmPartVIIGrp />
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>96107</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>298502</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>298502</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <IRS990ScheduleB documentId="IRS990ScheduleB">
      <Organization501cInd organization501cTypeTxt="3">X</Organization501cInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>HOWARD H NEWMAN</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1>346 PINE BROOK ROAD</AddressLine1>
          <City>BEDFORD</City>
          <State>NY</State>
          <ZIPCode>10506</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>1264460</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>1</ContributorNum>
        <NoncashPropertyDesc>25,000 SHARES BANK OF NY MELLON</NoncashPropertyDesc>
        <FairMarketValueAmt>860250</FairMarketValueAmt>
        <ReceivedDt>2013-12-24</ReceivedDt>
      </NonCashPropertyContributionGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>1</ContributorNum>
        <NoncashPropertyDesc>13,292 SHARES OF CREDIT SUISSE</NoncashPropertyDesc>
        <FairMarketValueAmt>404210</FairMarketValueAmt>
        <ReceivedDt>2013-12-24</ReceivedDt>
      </NonCashPropertyContributionGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="AccountingFeesSch">
      <AccountingFeesDetail>
        <CategoryTxt>BERDON LLP</CategoryTxt>
        <Amt>6520</Amt>
        <DisbursementsCharitablePrpsAmt>6520</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorporateBondsGrp>
        <BondNm>100,000 HSBC FINANCE CORP</BondNm>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>100000 ANHEUSER-BUSCH 1/15/14</BondNm>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>MORGAN STANLEY CAP VIII</StockNm>
        <EOYBookValueAmt>99744</EOYBookValueAmt>
        <EOYFMVAmt>110676</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>STANDARD AND POORS DEPOSIT RCT</StockNm>
        <EOYBookValueAmt>1157118</EOYBookValueAmt>
        <EOYFMVAmt>1916284</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES RUSSELL 1000 GROWTH</StockNm>
        <EOYBookValueAmt>583400</EOYBookValueAmt>
        <EOYFMVAmt>1106758</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES RUSSELL 1000 VALUE</StockNm>
        <EOYBookValueAmt>962291</EOYBookValueAmt>
        <EOYFMVAmt>1572286</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES MSCI EAFE</StockNm>
        <EOYBookValueAmt>1285497</EOYBookValueAmt>
        <EOYFMVAmt>1444894</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES RUSSELL 2000 VALUE</StockNm>
        <EOYBookValueAmt>949586</EOYBookValueAmt>
        <EOYFMVAmt>1467027</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES MSCI EMERGING MKTS</StockNm>
        <EOYBookValueAmt>1306761</EOYBookValueAmt>
        <EOYFMVAmt>1158306</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BANK OF NY MELLON</StockNm>
        <EOYBookValueAmt>860250</EOYBookValueAmt>
        <EOYFMVAmt>1000750</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CREDIT SUISSE GROUP AG</StockNm>
        <EOYBookValueAmt>404210</EOYBookValueAmt>
        <EOYFMVAmt>356200</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsLandSchedule2 documentId="InvLandSch2" />
    <LandEtcSchedule2 documentId="LandEtcSch2" />
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT MGT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>256</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>256</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>FILING FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>25</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>25</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LAW JOURNAL AD</Desc>
        <RevenueAndExpensesPerBooksAmt>140</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>140</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>INTERNAL REVENUE SERVICE</Desc>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX ON INV. INCOME</CategoryTxt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>