THE WILLIAM H PITT III FOUNDATION INC: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: THE WILLIAM H PITT III FOUNDATION INC (EIN 22-2570737)
Tax period: 2023-10-01 to 2024-09-30
Filed: 2026-03-10
IRS object ID: 202600699349100620
Schema version: 2023v6.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990-PF
Accounting Fees Schedule
Depreciation Schedule
Investments Corp Stock Schedule
Investments Land Schedule2
Investments Other Schedule2
Legal Fees Schedule
Other Expenses Schedule
Other Income Schedule2
Other Increases Schedule
Other Liabilities Schedule
Other Professional Fees Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2026-03-10T18:01:49-05:00	ReturnTs
Tax Period End	2024-09-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	135565207	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	KPMG LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	ONE FINANCIAL PLZ STE 2300	AddressLine1Txt
City	PROVIDENCE	CityNm
State Abbreviation	RI	StateAbbreviationCd
ZIP	02903	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2023-10-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	222570737	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	THE WILLIAM H PITT FOUNDATION INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	WILL	BusinessNameControlTxt
Phone	5617588898	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	505 S FLAGLER DRIVE 1100	AddressLine1Txt
City	WEST PALM BEACH	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	33401	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	JACKIE BRECKENRIDGE	PersonNm
Person Title	SECRETARY	PersonTitleTxt
Phone	5617588898	PhoneNum
Signature	2026-03-04	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	false	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	LYLE J MOHLER	PreparerPersonNm
PTIN	P01340349	PTIN
Phone	6892065200	PhoneNum
Preparation	2026-03-04	PreparationDt

Field	Value	IRS element (for citing)
Tax	2023	TaxYr
Build TS	2025-03-06 01:10:19Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$52,171,550	FMVAssetsEOYAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Dividends Rev And Expnss	$570,264	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$570,264	DividendsNetInvstIncmAmt
Gross Rents Rev And Expnss	$408,008	GrossRentsRevAndExpnssAmt
Gross Rents Net Invst Incm	$408,008	GrossRentsNetInvstIncmAmt
Gross Rents Adj Net Incm	$408,008	GrossRentsAdjNetIncmAmt
Net Rental Income Or Loss	$375,677	NetRentalIncomeOrLossAmt
Net Gain Sale Ast Rev And Expnss	$1,548,078	NetGainSaleAstRevAndExpnssAmt
Gross Sales Price	$18,338,821	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$1,548,078	CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm	$0	NetSTCapitalGainAdjNetIncmAmt
Other Income Rev And Expnss	$2,136,677	OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm	$1,766,981	OtherIncomeNetInvstIncmAmt
Other Income Adj Net Incm	$369,696	OtherIncomeAdjNetIncmAmt
Total Rev And Expnss	$4,663,027	TotalRevAndExpnssAmt
Total Net Invst Incm	$4,293,331	TotalNetInvstIncmAmt
Total Adj Net Incm	$777,704	TotalAdjNetIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$640,479	CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm	$288,216	CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl	$352,263	CompOfcrDirTrstDsbrsChrtblAmt
Oth Empl Slrs Wgs Net Invst Incm	$0	OthEmplSlrsWgsNetInvstIncmAmt
Oth Empl Slrs Wgs Adj Net Incm	$0	OthEmplSlrsWgsAdjNetIncmAmt
Oth Empl Slrs Wgs Dsbrs Chrtbl	$0	OthEmplSlrsWgsDsbrsChrtblAmt
Pension Empl Bnft Net Invst Incm	$0	PensionEmplBnftNetInvstIncmAmt
Pension Empl Bnft Adj Net Incm	$0	PensionEmplBnftAdjNetIncmAmt
Legal Fees Rev And Expnss	$21,470	LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm	$0	LegalFeesNetInvstIncmAmt
Legal Fees Adj Net Incm	$0	LegalFeesAdjNetIncmAmt
Legal Fees Dsbrs Chrtbl	$21,470	LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss	$57,996	AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm	$0	AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm	$0	AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps	$57,996	AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss	$131,166	OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm	$131,166	OtherProfFeesNetInvstIncmAmt
Other Prof Fees Dsbrs Chrtbl	$0	OtherProfFeesDsbrsChrtblAmt
Interest Dsbrs Chrtbl	$0	InterestDsbrsChrtblAmt
Taxes Rev And Expnss	$269,387	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$4,210	TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl	$0	TaxesDsbrsChrtblAmt
Deprec And Dpltn Rev And Expnss	$32,331	DeprecAndDpltnRevAndExpnssAmt
Deprec And Dpltn Net Invst Incm	$32,331	DeprecAndDpltnNetInvstIncmAmt
Trav Conf Meeting Rev And Expnss	$1,066	TravConfMeetingRevAndExpnssAmt
Trav Conf Meeting Net Invst Incm	$0	TravConfMeetingNetInvstIncmAmt
Trav Conf Meeting Adj Net Incm	$0	TravConfMeetingAdjNetIncmAmt
Trav Conf Meeting Dsbrs Chrtbl	$1,066	TravConfMeetingDsbrsChrtblAmt
Printing And Pub Net Invst Incm	$0	PrintingAndPubNetInvstIncmAmt
Printing And Pub Adj Net Incm	$0	PrintingAndPubAdjNetIncmAmt
Other Expenses Rev And Expnss	$139,240	OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm	$119,345	OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl	$19,895	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$1,293,135	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$575,268	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm	$0	TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$452,690	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$2,965,000	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$2,965,000	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$4,258,135	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$575,268	TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm	$0	TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl	$3,417,690	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$404,892	ExcessRevenueOverExpensesAmt
Net Investment Income	$3,718,063	NetInvestmentIncomeAmt
Adjusted Net Income	$777,704	AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Sav And Temp Cash Invst BOY	$549,249	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$902,767	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$902,767	SavAndTempCashInvstEOYFMVAmt
Acct Rcvbl EOY	$0	AcctRcvblEOYAmt
Acct Rcvbl EOYFMV	$0	AcctRcvblEOYFMVAmt
Other Rcvbl Allwnc Dbtfl Acct	$0	OtherRcvblAllwncDbtflAcctAmt
Corporate Stock BOY	$26,708,538	CorporateStockBOYAmt
Corporate Stock EOY	$28,898,631	CorporateStockEOYAmt
Corporate Stock EOYFMV	$28,898,631	CorporateStockEOYFMVAmt
Invst Land Cost Or Other Basis	$2,645,314	InvstLandCostOrOtherBasisAmt
Invst Land Accum Depreciation	$785,618	InvstLandAccumDepreciationAmt
Land Bldg Investments BOY	$1,892,027	LandBldgInvestmentsBOYAmt
Land Bldg Investments EOY	$1,859,696	LandBldgInvestmentsEOYAmt
Other Investments BOY	$19,874,930	OtherInvestmentsBOYAmt
Other Investments EOY	$22,370,152	OtherInvestmentsEOYAmt
Other Investments EOYFMV	$22,370,152	OtherInvestmentsEOYFMVAmt
Total Assets BOY	$49,024,744	TotalAssetsBOYAmt
Total Assets EOY	$54,031,246	TotalAssetsEOYAmt
Total Assets EOYFMV	$52,171,550	TotalAssetsEOYFMVAmt
Other Liabilities BOY	$217,901	OtherLiabilitiesBOYAmt
Other Liabilities EOY	$78,780	OtherLiabilitiesEOYAmt
Total Liabilities BOY	$217,901	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$78,780	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Capital Stock BOY	$48,806,843	CapitalStockBOYAmt
Capital Stock EOY	$53,952,466	CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY	$48,806,843	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$53,952,466	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$49,024,744	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$54,031,246	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$48,806,843	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$404,892	ExcessRevenueOverExpensesAmt
Other Increases	$4,740,731	OtherIncreasesAmt
Subtotal	$53,952,466	SubtotalAmt
Other Decreases	$0	OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY	$53,952,466	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDesc	AcquiredAcquiredDt	SoldSoldDt	Gross Sales PriceGrossSalesPriceAmt	Cost Or Other BasisCostOrOtherBasisAmt	Gain Or LossGainOrLossAmt	Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
1. LONG TERM SALES-SEE ATTACHED	2022-12-15	2024-04-30	$456,878	$373,321	$83,557	$83,557
1. LONG TERM SALES-SEE ATTACHED	2022-12-15	2024-06-30	$17,881,943	$16,417,422	$1,464,521	$1,464,521

Field	Value	IRS element (for citing)
Capital Gain Net Income	$1,548,078	CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$51,681	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$51,681	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$51,681	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$73,976	EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce	$0	ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid	$20,000	ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits	$93,976	TotalPaymentsAndCreditsAmt
Es Penalty	$0	EsPenaltyAmt
Overpayment	$42,295	OverpaymentAmt
Applied To ES Tax	$42,295	AppliedToESTaxAmt
Refund	$0	RefundAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	Yes (true)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (true)	Form990TFiledInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Org Report Or Register State	CT	OrgReportOrRegisterStateCd
Org Report Or Register State	FL	OrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen	Yes (true)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	false	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

Field	Value	IRS element (for citing)
Business Name Line1	JACKIE BRECKENRIDGE	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	5617588898	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	320 TANGIER AVENUE	AddressLine1Txt
City	PALM BEACH	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	33480	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	Yes (true)	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Acts Fail To Qlfy As Exceptions	false	ActsFailToQlfyAsExceptionsInd
Uncorrected Prior Acts	false	UncorrectedPriorActsInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (6 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt
LARRY ALEXANDER
505 S FLAGLER DRIVE SUITE 1100	WEST PALM BEACH	FL	33401	SECRETARY	5	$91,358
KATE GUBELMANN
505 S FLAGLER DRIVE SUITE 1100	WEST PALM BEACH	FL	33401	DIRECTOR	2	$28,128
CHARLES MALLORY
505 S FLAGLER DRIVE SUITE 1100	WEST PALM BEACH	FL	33401	DIRECTOR	1	$28,128
SAMANTHA BOARDMAN
505 S FLAGLER DRIVE SUITE 1100	WEST PALM BEACH	FL	33401	DIRECTOR	2	$28,128
PAULINE PITT
505 S FLAGLER DRIVE SUITE 1100	WEST PALM BEACH	FL	33401	CHAIRMAN & PRESIDENT	30	$321,741
JACKIE BRECKENRIDGE
505 S FLAGLER DRIVE SUITE 1100	WEST PALM BEACH	FL	33401	SECRETARY	40	$142,996

Compensation Highest Paid Empl CompensationHighestPaidEmplGrp

Field	Value	IRS element (for citing)
Person	JACQUELINE BRECKENRIDGE	PersonNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	505 S FLAGLER DRIVE STE 1100	AddressLine1Txt
City	WEST PALM BEACH	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	33401	ZIPCd

Field	Value	IRS element (for citing)
Title	SECRETARY	TitleTxt
Average Hrs Per Wk Devoted To Pos	40	AverageHrsPerWkDevotedToPosRt
Compensation	$142,996	CompensationAmt

Field	Value	IRS element (for citing)
Other Employee Paid Over50k	0	OtherEmployeePaidOver50kCnt

Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	MORGAN STANLEY	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	3280 PEACHTREE ROAD NE	AddressLine1Txt
City	ATLANTA	CityNm
State Abbreviation	GA	StateAbbreviationCd
ZIP	30305	ZIPCd

Field	Value	IRS element (for citing)
Service Type	INVESTMENT MANAGER	ServiceTypeTxt
Compensation	$93,264	CompensationAmt

Field	Value	IRS element (for citing)
Contractor Paid Over50k	0	ContractorPaidOver50kCnt

Field	Value	IRS element (for citing)
Summary Of Direct Chrtbl Acty		SummaryOfDirectChrtblActyGrp
Sum Of Program Related Invst		SumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$27,273,059	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$886,482	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$32,732,100	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$60,891,641	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$60,891,641	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$913,375	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$59,978,266	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$2,998,913	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$2,998,913	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$51,681	TaxBasedOnInvestmentIncomeAmt
Total Tax	$51,681	TotalTaxAmt
Distributable Before Adj	$2,947,232	DistributableBeforeAdjAmt
Recoveries Qualfied Distri	$0	RecoveriesQualfiedDistriAmt
Distributable Before Ded	$2,947,232	DistributableBeforeDedAmt
Deduction From Distributable	$0	DeductionFromDistributableAmt
Distributable As Adjusted	$2,947,232	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$3,417,690	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid	$0	CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test	$0	SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test	$0	SetAsideCashDistriTestAmt
Qualifying Distributions	$3,417,690	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$2,947,232	DistributableAsAdjustedAmt
Undistributed Income PY	$0	UndistributedIncomePYAmt
Total For Prior Years	$0	TotalForPriorYearsAmt
Excess Distribution Cyov Yr5	$0	ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4	$0	ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3	$0	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$0	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$259,666	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$259,666	TotalExcessDistributionCyovAmt
Qualifying Distributions	$3,417,690	QualifyingDistributionsAmt
Applied To Year1	$0	AppliedToYear1Amt
Applied To Prior Years	$0	AppliedToPriorYearsAmt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$2,947,232	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$470,458	RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus	$0	ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY	$0	ExcessDistributionCyovAppCYAmt
Total Corpus	$730,124	TotalCorpusAmt
Prior Year Undistributed Incm	$0	PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax	$0	PriorYearDeficiencyOrTaxAmt
Taxable1	$0	Taxable1Amt
Taxable2	$0	Taxable2Amt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3	$0	CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5	$0	ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr	$730,124	ExcessDistriCyovToNextYrAmt
Excess From Year4	$0	ExcessFromYear4Amt
Excess From Year3	$0	ExcessFromYear3Amt
Excess From Year2	$0	ExcessFromYear2Amt
Excess From Year1	$259,666	ExcessFromYear1Amt
Excess From Current Year	$470,458	ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (41 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient RelationshipRecipientRelationshipTxt	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt	Business Name Line2RecipientBusinessName/BusinessNameLine2Txt
NEWPORT RESTORATION FOUNDATION
51 TOURO STREET	NEWPORT	RI	02840	NONE	GENERAL	PC	$25,000
FAIRFIELD UNIVERSITY
1073 NORTH BENSON ROAD	FAIRFIELD	CT	06824	NONE	GENERAL	PC	$10,000
BOYS & GIRLS CLUB OF STAMFORD
347 STILLWATER AVENUE	STAMFORD	CT	06902	NONE	GENERAL	PC	$50,000
STONINGTON COMMUNITY CENTER INC
24 MAIN STREET	STONINGTON	CT	06378	NONE	GENERAL	PC	$25,000
SACRED HEART UNIVERSITY
5151 PARK AVENUE	FAIRFIELD	CT	068251000	NONE	GENERAL	PC	$100,000
NEW BRITAIN MUSEUM OF AMERICAN ART
56 LEXINGTON STREET	NEW BRITAIN	CT	06052	NONE	GENERAL	PC	$50,000
THE BROOKVILLE CHURCH
871 S FRANKLIN STREET	HOLBROOK	MA	02343	NONE	GENERAL	PC	$10,000
ASPCA
2070 GRIFFIN ROAD	FORT LAUDERDALE	FL	33312	NONE	GENERAL	PC	$1,600
CASITA MARIA INC
768 5TH AVENUE	NEW YORK	NY	10019	NONE	GENERAL	PC	$5,000
METROPOLITAN MUSEUM OF ART
1000 FIFTH AVENUE	NEW YORK	NY	10028	NONE	GENERAL	PC	$50,000
FRIENDS OF ST BARTHOLOMEW'S
106 WEST RIVER ROAD	RUMSON	NJ	07760	NONE	GENERAL	PC	$10,000	ANGLICAN CHURCH INC
HANLEY CENTER EDUCATION INC
933 45TH STREET	WEST PALM BEACH	FL	33407	NONE	GENERAL	PC	$2,500
WILLIAM PITT CHILD DEVELOPMENT CENTER
64 PALMERS HILL ROAD	STAMFORD	CT	06902	NONE	GENERAL	PC	$70,000
BOYS & GIRLS CLUB OF PALM BEACH COUNTY
800 NORTHPOINT PARKWAY 204	WEST PALM BEACH	FL	33407	NONE	GENERAL	PC	$420,000
LOUDOUN THERAPEUTIC RIDING INC
14490 BERLIN TURNPIKE	LOVETTSVILLE	VA	20180	NONE	GENERAL	PC	$15,000
GLADES ACADEMY FOUNDATION INC
ONE NORTH CLEMATIS STREET 200	WEST PALM BEACH	FL	33401	NONE	GENERAL	PC	$75,000
AMERICAN MURAL PROJECT INC
90 WHITING STREET	WINSTED	CT	06098	NONE	GENERAL	PC	$25,000
HEART OF THE VALLEY
1549 E CAMERON BRIDGE ROAD	BOZEMAN	MT	59718	NONE	GENERAL	PC	$10,000
WAKE FOREST UNIVERSITY
1834 WAKE FOREST ROAD	WINSTON SALEM	NC	27109	NONE	GENERAL	PC	$30,000
CHRIST SCHOOL
4845 NE 25TH AVENUE	FORT LAUDERDALE	FL	33308	NONE	GENERAL	PC	$16,800
UNC-CHAPEL HILL
103 SOUTH BLDG	CHAPEL HILL	NC	27514	NONE	GENERAL	PC	$10,000
THE SOCIETY OF THE FOUR ARTS
100 FOUR ARTS PLAZA	PALM BEACH	FL	33480	NONE	GENERAL	PC	$15,000
UM BASCOM PALMER EYE INSTITUTE
900 NW 17TH STREET	MIAMI	FL	33136	NONE	GENERAL	PC	$10,000
THE PEGGY ADAMS ANIMAL RESCUE LEAGUE
3200 N MILITARY TRAIL	WEST PALM BEACH	FL	334092733	NONE	GENERAL	PC	$87,500
ROSARIAN ACADEMY
807 N FLAGLER DRIVE	WEST PALM BEACH	FL	33401	NONE	GENERAL	PC	$15,000
GARDEN CLUB OF PALM BEACH
100 FOUR ARTS PLAZA	PALM BEACH	FL	33480	NONE	GENERAL	PC	$50,000
COX SCIENCE CENTER AND AQUARIUM
4801 DREHER TRAIL NORTH	WEST PALM BEACH	FL	33405	NONE	GENERAL	PC	$500,000
BELEN JESUIT PREPARATORY SCHOOL
500 SW 127TH AVENUE	MIAMI	FL	33184	NONE	GENERAL	PC	$60,000
PALM BEACH ZOO
1301 SUMMIT BLVD	WEST PALM BEACH	FL	334053098	NONE	GENERAL	PC	$25,000
PRESERVATION FOUNDATION OF PALM BEACH
311 PERUVIAN AVENUE	PALM BEACH	FL	33480	NONE	GENERAL	PC	$300,000
PALM BEACH ISLAND HOSPICE FOUNDATION
44 COCOANUT ROW SUITE M 207B	PALM BEACH	FL	33480	NONE	GENERAL	PC	$25,000
HISTORICAL SOCIETY OF PALM BEACH COUNTY
134 LAKEVIEW AVENUE	WEST PALM BEACH	FL	33401	NONE	GENERAL	PC	$12,000
NEW HOPE CHARITIES INC
626 N DIXIE HIGHWAY	WEST PALM BEACH	FL	33401	NONE	GENERAL	PC	$30,000
SCHOOL OF THE ARTS FOUNDATION
PO BOX 552	WEST PALM BEACH	FL	33402	NONE	GENERAL	PC	$10,000
CENTER FOR CREATIVE EDUCATION
425 24TH STREET	WEST PALM BEACH	FL	33407	NONE	GENERAL	PC	$327,800
ACHIEVEMENT FIRST
495 BLAKE STREET	NEW HAVEN	CT	06513	NONE	GENERAL	PC	$280,000
ST ANN'S CATHOLIC SCHOOL
324 N OLIVE AVENUE	WEST PALM BEACH	FL	33401	NONE	GENERAL	PC	$10,000
MUSEUM OF BIG BEND
400 N HARRISON STREET	ALPINE	TX	79832	NONE	GENERAL	PC	$15,000
EPISCOPAL HIGH SCHOOL
1200 NORTH QUAKER LANE	ALEXANDRIA	VA	22302	NONE	GENERAL	PC	$21,800
LET GROW INC
228 PARK AVENUE S	NEW YORK	NY	10003	NONE	GENERAL	PC	$150,000
MILLERTON COMMUNITY CINEMA INC
48 MAIN STREET	MILLERTON	NY	12546	NONE	GENERAL	PC	$10,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$2,965,000	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Field	Value	IRS element (for citing)
Fees Contracts From Govt Ag		FeesContractsFromGovtAgGrp
Membership Dues And Assmnt		MembershipDuesAndAssmntGrp
Int On Sav And Temp Cash Invst		IntOnSavAndTempCashInvstGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$570,264	ExclusionAmt

Field	Value	IRS element (for citing)
Net Rntl Incm Re Debt Fincd Prop		NetRntlIncmReDebtFincdPropGrp

Net Rntl Incm Re Not Debt Fincd Prop NetRntlIncmReNotDebtFincdProp

Field	Value	IRS element (for citing)
Exclusion	16	ExclusionCd
Exclusion	$375,677	ExclusionAmt

Field	Value	IRS element (for citing)
Net Rental Income Personal Prop		NetRentalIncomePersonalPropGrp
Other Investment Income		OtherInvestmentIncomeGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Field	Value	IRS element (for citing)
Exclusion	18	ExclusionCd
Exclusion	$1,548,078	ExclusionAmt

Field	Value	IRS element (for citing)
Net Income Loss From Special Evt		NetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of Invntry		GrossProfitLossSlsOfInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp (6 entries)

DescDesc	BusinessBusinessCd	Unrelated Business Taxbl IncmUnrelatedBusinessTaxblIncmAmt	ExclusionExclusionCd	ExclusionExclusionAmt
PALISADES TARTAN M	531390	-$1,701
FIDELITY BUILDING	531390	$4,635	1	$57,033
SOUNDVIEW FARMS IN	531390	$518	1	$635,590
QUARRY ROAD LOT 2,	531390	$364,504	1	$649,470
PITT/SCINTO LOT 3,	531390	$47,536	1	$424,888
QUARRY ROAD LOT 1(	531390	-$45,796

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	$369,696	UnrelatedBusinessTaxblIncmAmt
Exclusion	$4,261,000	ExclusionAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$4,630,696	TotalIncomeProducingActyAmt

Field	Value	IRS element (for citing)
Rln Of Acty To Accom Of Exmpt Prps		RlnOfActyToAccomOfExmptPrpsGrp

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail (3 entries)

CategoryCategoryTxt	AmtAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
CEO/CFO CONSULTING SVCS	$33,225	$33,225
GLASS ACCOUNTING	$2,946	$2,946
EISNER ADVISORY GROUP LLC	$21,825	$21,825

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (6 entries)

PropertyPropertyDesc	AcquiredAcquiredDt	Cost Or Other BasisCostOrOtherBasisAmt	Computation MethodComputationMethodTxt	Prior Year DepreciationPriorYearDepreciationAmt	LifeLifeRt	Current Year ExpenseCurrentYearExpenseAmt
LAND	2000-09-09	$316,462	L
BUILDING	2000-09-09	$219,323	SL	$129,351	39	$5,624
LAND IMPROVEMENTS	2000-09-09	$14,215	SL	$14,215	15
LAND IMPROVEMENTS	2005-03-01	$10,000	SL	$9,949	15
LAND IMPROVEMENTS	2006-03-01	$12,820	SL	$12,753	15
LAND IMPROVEMENTS	2007-03-01	$700	SL	$700	15

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (3 entries)

StockStockNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
ROBERT W. BAIRD & CO
US TRUST
MORGAN STANLEY	$28,898,631	$28,898,631

Investments Land Schedule2 InvestmentsLandSchedule2

Investment Land InvestmentLandGrp (6 entries)

Category Or ItemCategoryOrItemTxt	Cost Or Other BasisCostOrOtherBasisAmt	Book ValueBookValueAmt	Accumulated DepreciationAccumulatedDepreciationAmt
LAND	$316,462	$316,462
BUILDING	$219,323	$84,348	$134,975
LAND IMPROVEMENTS	$14,215		$14,215
LAND IMPROVEMENTS	$10,000	$51	$9,949
LAND IMPROVEMENTS	$12,820	$67	$12,753
LAND IMPROVEMENTS	$700		$700

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (5 entries)

Category Or ItemCategoryOrItemTxt	Listed At Cost Or FMVListedAtCostOrFMVCd	Book ValueBookValueAmt	EOYFMVEOYFMVAmt
FIDELITY BUILDING COMPANY	AT COST	$894,411	$894,411
FUNDAMENTAL GLOBAL HOLDINGS LP	AT COST	$3,262,454	$3,262,454
PALISADES MEDIA TARTAN, LLC	AT COST	$203,689	$203,689
QUARRY ROAD	AT COST	$13,814,949	$13,814,949
SOUNDVIEW FARMS, LLC	AT COST	$4,194,649	$4,194,649

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

Field	Value	IRS element (for citing)
Category	JONES FOSTER, P.A	CategoryTxt
Legal Fees	$21,470	LegalFeesAmt
Disbursements Charitable Prps	$21,470	DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (14 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Net Investment IncomeNetInvestmentIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
PAYROLL PROCESSING FEES	$1,644	$0	$1,644
INSURANCE	$10,224	$0	$10,224
COMPUTER EXPENSES	$3,463	$0	$3,463
AUTO EXPENSE	$259	$0	$259
INTERNET	$1,452	$0	$1,452
LICENSES	$20	$0	$20
OFFICE EXPENSES	$1,749	$0	$1,749
POSTAGE & DELIVERY	$792	$0	$792
BANK CHARGE	$292	$0	$292
ADR FEES	$1,595	$1,595	$0
FIDELITY BUILDING CO. - K-1 75	$37,327	$37,327	$0
SOUNDVIEW - K-1 754 DEP.	$57,710	$57,710	$0
QUARRY ROAD LOT 2 - K-1 754 DE	$19,265	$19,265	$0
FUNDAMENTAL GLOBAL HLDG - K1 E	$3,448	$3,448	$0

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail (6 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Net Investment IncomeNetInvestmentIncomeAmt	Adjusted Net IncomeAdjustedNetIncomeAmt
PALISADES TARTAN MEDIA, LLC-ORDINARY INC	-$1,701	$0	-$1,701
FIDELITY BUILDING CO.-K-1 RENTAL R/E	$61,668	$57,033	$4,635
SOUNDVIEW FARMS LLC-K-1 RENTAL R/E	$636,108	$635,590	$518
QUARRY ROAD LOT 2-K-1 RENTAL R/E	$1,013,974	$649,470	$364,504
QUARRY ROAD LOT 1(JOINT VENTURE)	-$45,796	$0	-$45,796
PITT/SCINTO LOT 3-K-1 RENTAL R/E	$472,424	$424,888	$47,536

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail (2 entries)

DescDesc	AmtAmt
UNREALIZED GAINS(LOSSES)	$284,683
PARTNERSHIP ADJUSTMENTS	$4,456,048

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail (5 entries)

DescDesc	BOY Book ValueBOYBookValueAmt	EOY Book ValueEOYBookValueAmt
EXCISE TAX PAYABLE	$79,831
PAYROLL TAXES PAYABLE	$20,228	$73,453
BANK OVERDRAFT	$117,842
GRANT LIABILITY		$5,000
OFFICE LIABILITY		$327

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)

CategoryCategoryTxt	AmtAmt	Net Investment IncomeNetInvestmentIncomeAmt
BAIRD - INVESTMENT FEES	$37,902	$37,902
MORGAN STANLEY - INVESTMENT FE	$93,264	$93,264

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (6 entries)

CategoryCategoryTxt	AmtAmt	Net Investment IncomeNetInvestmentIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
CT 990T BALANCE DUE & ESTIMATE	$59,000	$0	$0
990PF BALANCE DUE & ESTIMATES	$90,000	$0	$0
990T BALANCE DUE & ESTIMATES	$81,000	$0	$0
FOREIGN TAXES	$4,210	$4,210	$0
PAYROLL TAXES	$31,429	$0	$0
IRS NOTICES	$3,748	$0	$0