﻿<?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="2023v5.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-11-13T12:15:09-06:00</ReturnTs>
    <TaxPeriodEndDt>2023-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>ERNST &amp; YOUNG US LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>111 MONUMENT CIRCLESUITE 4000</AddressLine1Txt>
        <CityNm>INDIANAPOLIS</CityNm>
        <StateAbbreviationCd>IN</StateAbbreviationCd>
        <ZIPCd>46204</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>200911399</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>Jay and Kelly Sugarman Foundation</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>c/o Jay Sugarman</BusinessNameLine2Txt>
      </BusinessName>
      <InCareOfNm>% JAY SUGARMAN</InCareOfNm>
      <BusinessNameControlTxt>JAYA</BusinessNameControlTxt>
      <PhoneNum>2129309400</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1114 Avenue of the Americas</AddressLine1Txt>
        <CityNm>New York</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>10036</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Jay Sugarman</PersonNm>
      <PersonTitleTxt>Officer</PersonTitleTxt>
      <PhoneNum>2129309400</PhoneNum>
      <SignatureDt>2024-05-14</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>JENNIFER D RHODERICK</PreparerPersonNm>
      <PTIN>P00395735</PTIN>
      <PhoneNum>3176817445</PhoneNum>
      <PreparationDt>2024-05-14</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2024-10-15 13:58:12Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="7">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>4970553</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>2603441</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>23</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>23</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>25821</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>25821</DividendsNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSch2">36</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>36</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>2629321</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>25880</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OthProfFeesSch">83</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>83</OtherProfFeesNetInvstIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>83</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>83</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>258500</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>258500</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>258583</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>83</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>258500</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>2370738</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>25797</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>8174</CashBOYAmt>
        <CashEOYAmt>9100</CashEOYAmt>
        <CashEOYFMVAmt>9100</CashEOYFMVAmt>
        <SavAndTempCashInvstEOYAmt>25812</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>25812</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>0</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestCorpStockSch">0</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>4935641</CorporateStockEOYFMVAmt>
        <TotalAssetsBOYAmt>8174</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>34912</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>4970553</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>8174</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>34912</CapitalStockEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>8174</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>34912</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>8174</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>34912</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>8174</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>2370738</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>2378912</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="OtherDecreasesSch">2344000</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>34912</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail />
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>359</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>359</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>359</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>3222</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <TotalPaymentsAndCreditsAmt>3222</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>2863</OverpaymentAmt>
        <AppliedToESTaxAmt>2863</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd referenceDocumentId="BinaryAttach">false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd referenceDocumentId="BinaryAttach">false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd referenceDocumentId="BinaryAttach">false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>DE</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>JAY SUGARMAN</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>2129309400</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>1114 AVENUE OF THE AMERICAS</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10036</ZIPCd>
        </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>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JAY SUGARMAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>1114 Avenue of the Americas</AddressLine1Txt>
            <CityNm>New York</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10036</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT/TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KELLY SUGARMAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>1114 Avenue of the Americas</AddressLine1Txt>
            <CityNm>New York</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10036</ZIPCd>
          </USAddress>
          <TitleTxt>VICE PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp />
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>NONE</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>2943346</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>13523</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2956869</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2956869</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>44353</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2912516</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>145626</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>145626</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>359</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>359</TotalTaxAmt>
        <DistributableBeforeAdjAmt>145267</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>145267</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>145267</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>258500</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>258500</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>145267</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2021</PriorYear1Yr>
        <PriorYear2Yr>2020</PriorYear2Yr>
        <PriorYear3Yr>2019</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>284321</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>216332</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>181827</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>128186</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>286481</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>1097147</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>258500</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>145267</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>113233</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>1210380</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>284321</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>926059</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>216332</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>181827</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>128186</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>286481</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>113233</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp></PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>JAY SUGARMAN</ContributingManagerNm>
        <ContributingManagerNm>KELLY SUGARMAN</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>First Church of Christ Scientist</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>18 E 41 Street</AddressLine1Txt>
            <CityNm>New York</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10017</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To promote the teaching of Christian science.</GrantOrContributionPurposeTxt>
          <Amt>37000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Byrd Hoffman Water Mill Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>39 Water Mill Towd Road</AddressLine1Txt>
            <CityNm>Watermill</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11976</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To provide a supportive environment for emerging artists to explore new ideas and foster their career development.</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SCRIPPS NATIONAL SPELLING BEE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>312 WALNUT STREET</AddressLine1Txt>
            <AddressLine2Txt>SUITE 2800</AddressLine2Txt>
            <CityNm>CINCINNATI</CityNm>
            <StateAbbreviationCd>OH</StateAbbreviationCd>
            <ZIPCd>45202</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>INSPIRING THE EXPLORATION OF WORDS TO ILLUMINATE PATHWAYS OF LIFELONG CURIOSITY,CELEBRATES ACADEMIC ACHIEVEMENT AND ENRICHES COMMUNITES</GrantOrContributionPurposeTxt>
          <Amt>31275</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Philadelphia Union Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2501 Seaport Drive</AddressLine1Txt>
            <CityNm>Chester</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19013</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To promote inspiration and empowerment for young people, especially those in underserved communities.</GrantOrContributionPurposeTxt>
          <Amt>35000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Syrian American Medical</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1012 14th St NW Ste 1500</AddressLine1Txt>
            <CityNm>Washington</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20005</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To promote global medical relief, save lives, and alleviate suffering.</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Khan Academy Inc</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1937 Landings Drive</AddressLine1Txt>
            <CityNm>Mountain View</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94043</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To promote free, accessible education.</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Good Foundation Inc</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>306 W 37th Street</AddressLine1Txt>
            <CityNm>New York</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10018</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To support the goal of dismantling multi-generational poverty.</GrantOrContributionPurposeTxt>
          <Amt>10225</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Southampton Arts Center</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>25 Jobs Lane</AddressLine1Txt>
            <CityNm>Southampton</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11968</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To support community building through the arts.</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Catholic Charities</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2050 Ballenger Ave Suite 400</AddressLine1Txt>
            <CityNm>Alexandria</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>22314</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To provide service to people, families, and communities in need.</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Southampton Town Aquatics</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO Box 939</AddressLine1Txt>
            <CityNm>Southampton</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11969</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To support access to indoor pools and improve water safety.</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AIP Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>9039 East Palms Park Drive</AddressLine1Txt>
            <CityNm>Tucson</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85715</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To promote the learnings and teachings of physical sciences throughout the world.</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Elephant Club</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>110 E Avenida Palizada Suite 301</AddressLine1Txt>
            <CityNm>San Clemente</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>92672</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To raise awareness of the African Elephant crisis.</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>258500</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>23</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>25821</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>36</ExclusionAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp />
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>25880</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>25880</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">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>JAY SUGARMAN</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>ONE CENTRAL PARK WEST - PENTHOUSE</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10023</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>259441</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
      <ContributorInformationGrp>
        <ContributorNum>2</ContributorNum>
        <ContributorPersonNm>Jay Sugarman</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>ONE CENTRAL PARK WEST - PENTHOUSE</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10023</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>2344000</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>2</ContributorNum>
        <NoncashPropertyDesc>100,000 SHS SAFEHOLD INC.</NoncashPropertyDesc>
        <FairMarketValueAmt>2344000</FairMarketValueAmt>
        <ReceivedDt>2023-12-29</ReceivedDt>
      </NonCashPropertyContributionGrp>
    </IRS990ScheduleB>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>168,879 SHS SAFEEHOLD INC NEW</StockNm>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>3951769</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>1,064 SHS SAFEHOLD INC</StockNm>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>24898</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>63,329 STAR HOLDINGS REG SHS</StockNm>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>948668</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>688 SHS STAR HOLDINGS</StockNm>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>10306</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherDecreasesSchedule documentId="OtherDecreasesSch">
      <OtherDecreasesDetail>
        <Desc>TO ADJUST FOR TRANSFER OF 100,000 SHS OF</Desc>
        <Amt>2344000</Amt>
      </OtherDecreasesDetail>
      <OtherDecreasesDetail>
        <Desc>SAFEHOLD INC STOCK TRANSFERRED TO THE</Desc>
        <Amt>0</Amt>
      </OtherDecreasesDetail>
      <OtherDecreasesDetail>
        <Desc>FOUNDATION WITH ZERO COST BASIS</Desc>
        <Amt>0</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>Cash in Lieu CS-4733</Desc>
        <RevenueAndExpensesPerBooksAmt>9</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>9</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>Cash in Lieu ML-3903</Desc>
        <RevenueAndExpensesPerBooksAmt>27</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>27</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>ASSET MGMT FEES/BANK FEES</CategoryTxt>
        <Amt>83</Amt>
        <NetInvestmentIncomeAmt>83</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
  </ReturnData>
</Return>