<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2021v4.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2022-06-08T06:43:16-05:00</ReturnTs>
    <TaxPeriodEndDt>2021-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>223103963</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>STEVEN SEWALD &amp; COMPANY CPAS</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>242 STATE ROUTE 79 N STE 3</AddressLine1Txt>
        <CityNm>MORGANVILLE</CityNm>
        <StateAbbreviationCd>NJ</StateAbbreviationCd>
        <ZIPCd>07751</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2021-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>133566516</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>GERDA LISSNER FOUNDATION INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>GERD</BusinessNameControlTxt>
      <PhoneNum>2128266100</PhoneNum>
      <USAddress>
        <AddressLine1Txt>15 EAST 65TH STREET</AddressLine1Txt>
        <CityNm>NEW YORK</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>100656501</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MICHAEL A FORNABAIO</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <SignatureDt>2022-05-20</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>MICHAEL A</PersonFirstNm>
        <PersonLastNm>FORNABAIO</PersonLastNm>
      </PersonFullName>
      <SSN>XXX-XX-XXXX</SSN>
    </SigningOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>STEVEN SEWALD CPA</PreparerPersonNm>
      <PTIN>P00171184</PTIN>
      <PhoneNum>7323321700</PhoneNum>
      <PreparationDt>2022-05-20</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2021</TaxYr>
    <BuildTS>2022-09-23 18:48:47Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="14">
    <IRS990PF documentId="RetDoc19" referenceDocumentId="RetDoc14">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>7724322</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>5200</ContriRcvdRevAndExpnssAmt>
        <DividendsRevAndExpnssAmt>184005</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>184005</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>674768</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>4593920</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>674768</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc10">9178</OtherIncomeRevAndExpnssAmt>
        <TotalRevAndExpnssAmt>873151</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>858773</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>168000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>16800</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>151200</CompOfcrDirTrstDsbrsChrtblAmt>
        <OthEmplSlrsWgsRevAndExpnssAmt>6100</OthEmplSlrsWgsRevAndExpnssAmt>
        <OthEmplSlrsWgsDsbrsChrtblAmt>6100</OthEmplSlrsWgsDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc7">2675</LegalFeesRevAndExpnssAmt>
        <LegalFeesDsbrsChrtblAmt>2675</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2">38023</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>9506</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>28517</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc12">94958</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>94958</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc13">20648</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>1755</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>11893</TaxesDsbrsChrtblAmt>
        <OccupancyRevAndExpnssAmt>60000</OccupancyRevAndExpnssAmt>
        <OccupancyDsbrsChrtblAmt>60000</OccupancyDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc9">43866</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>31</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>43835</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>434270</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>123050</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>304220</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>49500</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>49500</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>483770</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>123050</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>353720</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>389381</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>735723</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>4652</CashBOYAmt>
        <CashEOYAmt>7487</CashEOYAmt>
        <CashEOYFMVAmt>7487</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>223466</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>243486</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>243486</SavAndTempCashInvstEOYFMVAmt>
        <PrepaidExpensesBOYAmt>17885</PrepaidExpensesBOYAmt>
        <PrepaidExpensesEOYAmt>17885</PrepaidExpensesEOYAmt>
        <PrepaidExpensesEOYFMVAmt>17885</PrepaidExpensesEOYFMVAmt>
        <CorporateStockBOYAmt>3229976</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc5">4801385</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>6041731</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>2594078</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc4">1385930</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>1389985</CorporateBondsEOYFMVAmt>
        <LandBldgEquipCostOrOtherBssAmt>11951</LandBldgEquipCostOrOtherBssAmt>
        <LandBldgEquipAccumDeprecAmt>11951</LandBldgEquipAccumDeprecAmt>
        <LandEOYFMVAmt>10000</LandEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc8">10000</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc8">13748</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc8">13748</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>6080057</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>6469921</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>7724322</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="RetDoc11">100</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="RetDoc11">583</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>100</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>583</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>6079957</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>6469338</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>6079957</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>6469338</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>6080057</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>6469921</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>6079957</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>389381</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>6469338</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>6469338</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>JPMORGAN CHASE - SEE STMNT 19</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>325424</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>241168</CostOrOtherBasisAmt>
          <GainOrLossAmt>84256</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>84256</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BNY MELLON</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>561435</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>530094</CostOrOtherBasisAmt>
          <GainOrLossAmt>31341</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>31341</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BNY MELLON</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>1459106</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1217807</CostOrOtherBasisAmt>
          <GainOrLossAmt>241299</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>241299</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>GW&amp;K ROCKEFELLER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>434375</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>427540</CostOrOtherBasisAmt>
          <GainOrLossAmt>6835</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>6835</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>GW&amp;K ROCKEFELLER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>436121</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>417410</CostOrOtherBasisAmt>
          <GainOrLossAmt>18711</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>18711</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CONFLUENCE ROCKEFELLER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>37700</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>19815</CostOrOtherBasisAmt>
          <GainOrLossAmt>17885</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>17885</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>EQUITY COMPASS ROCKEFELLER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>38924</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>29693</CostOrOtherBasisAmt>
          <GainOrLossAmt>9231</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>9231</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>EQUITY COMPASS ROCKEFELLER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>241773</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>168357</CostOrOtherBasisAmt>
          <GainOrLossAmt>73416</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>73416</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RIVERBRIDGE ROCKEFELLER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>2509</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2354</CostOrOtherBasisAmt>
          <GainOrLossAmt>155</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>155</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RIVERBRIDGE ROCKEFELLER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>115053</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>61602</CostOrOtherBasisAmt>
          <GainOrLossAmt>53451</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>53451</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>ADVISORY ROCKEFELLER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>191225</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>181590</CostOrOtherBasisAmt>
          <GainOrLossAmt>9635</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>9635</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>ADVISORY ROCKEFELLER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>724152</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>621722</CostOrOtherBasisAmt>
          <GainOrLossAmt>102430</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>102430</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>674768</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>57197</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>10227</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>10227</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>10227</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>4300</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>9000</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>13300</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>3073</OverpaymentAmt>
        <AppliedToESTaxAmt>3073</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>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>WWW.GERDALISSNER.ORG</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>IRA L WEINER CPA</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>7323321700</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>242 ROUTE 79 NORTH STE 3</AddressLine1Txt>
          <CityNm>MORGANVILLE</CityNm>
          <StateAbbreviationCd>NJ</StateAbbreviationCd>
          <ZIPCd>07751</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>
        <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>MICHAEL A FORNABAIO</PersonNm>
          <USAddress>
            <AddressLine1Txt>420 EAST 64TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10065</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>52000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KARL MICHAELIS</PersonNm>
          <USAddress>
            <AddressLine1Txt>244 EAST 86TH STREET 44</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10028</ZIPCd>
          </USAddress>
          <TitleTxt>TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CORNELIA BEIGEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>267 EDGCOMBE AVENUE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10031</ZIPCd>
          </USAddress>
          <TitleTxt>VP AND SECRE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>80000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SCOTT BARNES</PersonNm>
          <USAddress>
            <AddressLine1Txt>292 WEST 92ND STREET APT 1D</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10025</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARY B WOOSLEY</PersonNm>
          <USAddress>
            <AddressLine1Txt>144 EAST 84TH STREET 2B</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10028</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>THE FOUNDATION MAKES GRANTS AND ENCOURAGEMENT AWARDS TO THE WINNERS OF THE VARIOUS ANNUAL COMPETITIONS TO A LIMITED NUMBER OF PARTICIPANTS TO PROVIDE YOUNG OPERA SINGERS WITH THE FINANCIAL SUPPORT THEY NEED TO PURSUE THEIR CRAFT AND EXCEL IN THE WORLD OF OPERA. THE TRUSTEES BELEIVE THAT THE ENCOURAGEMENT AND ASSISTANCE TO YOUNG ARTISTS TOWARD ACHIEVING THEIR GOALS IS IMPERATIVE FOR THE CONTINUATION OF THIS DEMANDING ART FORM.</Description1Txt>
        <Description2Txt>CONTRIBUTIONS TO OTHER 501(C)(3) ORGANIZATIONS FOR GENERAL OPERATING SUPPORT IN THE FIELD OF OPERA AND OTHER VARIOUS ORGANIZATIONS.</Description2Txt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>7461318</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>9469</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>30000</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>7500787</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>7500787</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>112512</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>7388275</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>369414</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>369414</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>10227</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>10227</TotalTaxAmt>
        <DistributableBeforeAdjAmt>359187</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>359187</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>359187</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>353720</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>353720</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>359187</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>636396</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>563133</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>346939</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>223380</ExcessDistributionCyovYr2Amt>
        <TotalExcessDistributionCyovAmt>1769848</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>353720</QualifyingDistributionsAmt>
        <AppliedToCurrentYearAmt>353720</AppliedToCurrentYearAmt>
        <ExcessDistriCyovAppCYCorpusAmt>5467</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>5467</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>1764381</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>630929</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>1133452</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>563133</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>346939</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>223380</ExcessFromYear2Amt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>CORNELIA BEIGEL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>15 E 65TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10065</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>2128260366</RecipientPhoneNum>
          <RecipientEmailAddressTxt>MAIL@GEDALISSNER.ORG</RecipientEmailAddressTxt>
          <FormAndInfoAndMaterialsTxt>REFER TO FOUNDATION'S WEBSITE. WWWW.GERDALISSNER.ORG</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>REFER TO FOUNDATION'S WEBSITE. WWW.GERDALISSNER.ORG</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>SEE STATEMENT 14 AND 15.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CURTIS INSTITUTE OF MUSIC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1726 LOCUST ST</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE - GEN'L OPERATING SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE JUILLIARD SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>60 LINCOLN CTR PLAZA</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10023</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE - GENL OPERATING SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ACADEMY OF VOCAL ARTS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1920 SPRUCE STREET</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE - GEN'L OPERATING SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MANNES SCHOOL OF MUSIC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>66 WEST 12TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10011</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE - GEN'L OPERATING SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MANHATTAN SCHOOL OF MUSIC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>130 CLAREMONT AVENUE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10027</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CAHRITABLE - GEN'L OPERATING SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GIULIO GARI FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>175 WEST 72ND STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10023</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE - GEN'L OPERATING SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE KOSCIUSZKO FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>15 EAST 65TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11065</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE - GEN'L OPERATING SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>GREGORY FELDMAN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>429 MALCOM X BLVD</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10037</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>7000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ALMA NEUHAUS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>526 WEST 139TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10031</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>YVETTE KEONG</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>526 WEST 139TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10031</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ASHLEY ROBILLARD</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2209 CROSS STREET</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19146</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ERIN WAGNER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>507 EAST 73RD STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10021</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>BRANDON BELL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>6823 BURBAGE LANDING</AddressLine1Txt>
            <CityNm>SUFFOLK</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>23435</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>NICOLETTA BERRY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>908 ALLERTON AVE</AddressLine1Txt>
            <CityNm>BRONX</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10469</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>THOMAS CILLUFO</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1020 GRAND CONCOURSE</AddressLine1Txt>
            <CityNm>BRONX</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10451</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ELAINE DAIBER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>399 ATHERTON STREET</AddressLine1Txt>
            <CityNm>MILTON</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>02186</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>MICHELLE GEFFNER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>46 FT WAHINGTON AVE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10032</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JONGWON HAN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>301 WEST 45TH ST</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10036</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>KRYSTEN JONES</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>165 GREYSTONE LANE</AddressLine1Txt>
            <CityNm>ROCHESTER</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>14618</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>EUNSUNG LEE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>3507 FT INDEPENDENCE ST</AddressLine1Txt>
            <CityNm>BRONX</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10463</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JARRETT PORTER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>437 EAST 80TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10075</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>HYUNSUNG SHIN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2 WINDHAM COURT</AddressLine1Txt>
            <CityNm>MUTTONTOWN</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11545</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>MELANIE SPECTOR</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>315 PARK AVE</AddressLine1Txt>
            <CityNm>LEONIA</CityNm>
            <StateAbbreviationCd>NJ</StateAbbreviationCd>
            <ZIPCd>07605</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SEE ATTACHMENT 14A</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>49500</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>184005</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>674768</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>FEDERAL EXCISE TAX REFUND</Desc>
          <RelatedOrExemptFunctionIncmAmt>9178</RelatedOrExemptFunctionIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>858773</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>9178</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>867951</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="RetDoc1">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>LIEDERKRANZ FOUNDATION INC</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>6 EAST 87TH STREET</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10128</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>5000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2">
      <AccountingFeesDetail>
        <CategoryTxt>STEVEN SEWALD &amp; COMPANY CPAS</CategoryTxt>
        <Amt>38023</Amt>
        <NetInvestmentIncomeAmt>9506</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>28517</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="RetDoc3">
      <DepreciationPropertyGrp>
        <PropertyDesc>COMPUTER EQUIPMENT</PropertyDesc>
        <AcquiredDt>2004-02-15</AcquiredDt>
        <CostOrOtherBasisAmt>6539</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>6539</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>COMPUTER EQUIPMENT</PropertyDesc>
        <AcquiredDt>2007-03-15</AcquiredDt>
        <CostOrOtherBasisAmt>750</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>750</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FAX - XEROX</PropertyDesc>
        <AcquiredDt>2007-11-23</AcquiredDt>
        <CostOrOtherBasisAmt>1199</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1199</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>OFFICE EQUIPMENT - COPIER</PropertyDesc>
        <AcquiredDt>2008-02-12</AcquiredDt>
        <CostOrOtherBasisAmt>1349</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1349</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>COMPUTER EQUIPMENT</PropertyDesc>
        <AcquiredDt>2008-05-01</AcquiredDt>
        <CostOrOtherBasisAmt>2114</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>2114</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc4">
      <InvestmentsCorporateBondsGrp>
        <BondNm>SEE STATEMENT - 17</BondNm>
        <EOYBookValueAmt>1385930</EOYBookValueAmt>
        <EOYFMVAmt>1389985</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc5">
      <InvestmentsCorporateStockGrp>
        <StockNm>SEE STATEMENT - 16</StockNm>
        <EOYBookValueAmt>4801385</EOYBookValueAmt>
        <EOYFMVAmt>6041731</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LandEtcSchedule2 documentId="RetDoc6">
      <LandEtcGrp>
        <CategoryOrItemTxt>EQUIPMENT AND FURNITURE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>11951</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>11951</AccumulatedDepreciationAmt>
        <EOYFMVAmt>10000</EOYFMVAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <LegalFeesSchedule documentId="RetDoc7">
      <LegalFeesGrp>
        <CategoryTxt>DAVIS WRIGHT TREMAINE LLP</CategoryTxt>
        <LegalFeesAmt>2675</LegalFeesAmt>
        <DisbursementsCharitablePrpsAmt>2675</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc8">
      <OtherAssetsScheduleGrp>
        <Desc>SECURITY DEPOSIT - RENT</Desc>
        <BOYBookValueAmt>10000</BOYBookValueAmt>
        <EOYBookValueAmt>10000</EOYBookValueAmt>
        <EOYFMVAmt>10000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ACCRUED INV INCOME RECEIVABLE</Desc>
        <EOYBookValueAmt>3748</EOYBookValueAmt>
        <EOYFMVAmt>3748</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc9">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PAYROLL SERVICES - PAYCHEX</Desc>
        <RevenueAndExpensesPerBooksAmt>3531</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>3531</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>POSTAGE AND DELIVERY</Desc>
        <RevenueAndExpensesPerBooksAmt>144</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>144</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT EXPENSES - OTHER</Desc>
        <RevenueAndExpensesPerBooksAmt>31</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>31</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ADVERTISING AND PROMOTION</Desc>
        <RevenueAndExpensesPerBooksAmt>2150</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>2150</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>DUES AND PUBLICATIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>86</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>86</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>TELEPHONE</Desc>
        <RevenueAndExpensesPerBooksAmt>3470</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>3470</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE - EMPLOYEE HEALTH</Desc>
        <RevenueAndExpensesPerBooksAmt>13260</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>13260</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE - DIRECTORS LIABILI</Desc>
        <RevenueAndExpensesPerBooksAmt>3093</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>3093</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE - GENERAL</Desc>
        <RevenueAndExpensesPerBooksAmt>4568</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>4568</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE - W/COMP</Desc>
        <RevenueAndExpensesPerBooksAmt>980</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>980</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LOCAL TRAVEL</Desc>
        <RevenueAndExpensesPerBooksAmt>569</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>569</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SPEC EVENT - IVC AUDITIONS</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SPEC EVENT - LIEDER/SONG COMP</Desc>
        <RevenueAndExpensesPerBooksAmt>3918</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>3918</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>WEB-SITE COSTS</Desc>
        <RevenueAndExpensesPerBooksAmt>733</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>733</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INTERNET AND CABLE ACCESS</Desc>
        <RevenueAndExpensesPerBooksAmt>1956</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>1956</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFCE EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>4721</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>4721</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>COMPUTER RELATED EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>656</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>656</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc10">
      <OtherIncomeDetail>
        <Desc>FEDERAL EXCISE TAX REFUND</Desc>
        <RevenueAndExpensesPerBooksAmt>9178</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="RetDoc11">
      <OtherLiabilitiesDetail>
        <Desc>CREDIT CARD PAYABLE - MASTERCARD</Desc>
        <BOYBookValueAmt>100</BOYBookValueAmt>
        <EOYBookValueAmt>583</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>OTHER</Desc>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc12">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT ADV FEES - SEE ST 18</CategoryTxt>
        <Amt>94958</Amt>
        <NetInvestmentIncomeAmt>94958</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc13">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID ON DIVIVIDEND</CategoryTxt>
        <Amt>1755</Amt>
        <NetInvestmentIncomeAmt>1755</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE TAXES</CategoryTxt>
        <Amt>7000</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>NYS FILING FEES</CategoryTxt>
        <Amt>250</Amt>
        <DisbursementsCharitablePrpsAmt>250</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>PAYROLL TAXES</CategoryTxt>
        <Amt>10879</Amt>
        <DisbursementsCharitablePrpsAmt>10879</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>NYS TAXES</CategoryTxt>
        <Amt>250</Amt>
        <DisbursementsCharitablePrpsAmt>250</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>DELAWARE FILING FEES</CategoryTxt>
        <Amt>514</Amt>
        <DisbursementsCharitablePrpsAmt>514</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
