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            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11415</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>10.00</AverageHrsPerWkDevotedToPosRt>
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          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>2120120</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>109774</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2229894</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2229894</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>33448</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2196446</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>109822</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>109822</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>580</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>580</TotalTaxAmt>
        <DistributableBeforeAdjAmt>109242</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>109242</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>109242</DistributableAsAdjustedAmt>
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      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>45914</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>45914</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>580</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>45334</AdjustedQualifyingDistriAmt>
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      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>109242</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>15455</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>45914</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>15455</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>30459</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>78783</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
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      <SupplementaryInformationGrp>
        <ContributingManagerNm>PNINA ARBESFELD</ContributingManagerNm>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>PNINA ARBESFELD</RecipientPersonNm>
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            <AddressLine1Txt>82-05 ABINGTON RD</AddressLine1Txt>
            <CityNm>KEW GARDENS</CityNm>
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            <ZIPCd>11415</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>2127551800</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>BY LETTER</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NONE</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>NONE</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMERICAN FRIENDS OF YAD LEAH</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2 BRIGHTON AVE</AddressLine1Txt>
            <CityNm>PASSAIC</CityNm>
            <StateAbbreviationCd>NJ</StateAbbreviationCd>
            <ZIPCd>07055</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENRAL PURPOSE OF CHARITY</GrantOrContributionPurposeTxt>
          <Amt>180</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BAIS YAKOV OF QUEENS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>124-50 METROPOLOTAN AVE</AddressLine1Txt>
            <CityNm>JAMAICA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11415</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
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          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BETH MENACHEM</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5801 15TH AVE</AddressLine1Txt>
            <CityNm>BROOKLYN</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11219</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BIKOR CHOLIM OF MANHATTAN</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>10 COLUMBUS CIRCLE 4TH FLOOR</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10019</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
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          <Amt>380</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CONGREGATION BNAI ISRAEL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2 BANKSVILLE ROAD</AddressLine1Txt>
            <CityNm>ARMONK</CityNm>
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            <ZIPCd>10504</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CONGREGATION KEHILATH JACOB</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>125 E 85TH ST</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10028</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PURPOSE OF CHARITY</GrantOrContributionPurposeTxt>
          <Amt>24700</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CONGRGATION OHAB ZEDEK</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>118 W 95TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10025</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENRAL PURPOSE OF CHARITY</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CONGRGATION OHAV SHALOM</BusinessNameLine1Txt>
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          <RecipientUSAddress>
            <AddressLine1Txt>270 W 84TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10024</ZIPCd>
          </RecipientUSAddress>
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          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>EZRAT YISRAEL</BusinessNameLine1Txt>
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          <RecipientUSAddress>
            <AddressLine1Txt>806 EASTERN PKWY</AddressLine1Txt>
            <CityNm>BROOKLYN</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11213</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>JERUSALEM FELLOWSHIPS</BusinessNameLine1Txt>
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          <RecipientUSAddress>
            <AddressLine1Txt>119 W 72ND ST</AddressLine1Txt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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          <RecipientUSAddress>
            <AddressLine1Txt>382 CENTRAL PARK WEST</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
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          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>KAV L'NOAR</BusinessNameLine1Txt>
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          <RecipientUSAddress>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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        <GrantOrContributionPdDurYrGrp>
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        <GrantOrContributionPdDurYrGrp>
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            <StateAbbreviationCd>NY</StateAbbreviationCd>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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          <RecipientUSAddress>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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        <GrantOrContributionPdDurYrGrp>
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    <IRS990ScheduleB documentId="RetDoc1234500001">
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      <GeneralRuleInd>X</GeneralRuleInd>
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      <ContributorInformationGrp>
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      <NonCashPropertyContributionGrp>
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      <InvestmentsCorporateStockGrp>
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      <InvestmentsCorporateStockGrp>
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      <InvestmentsCorporateStockGrp>
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      <InvestmentsCorporateStockGrp>
        <StockNm>FIDELITY GROWTH DISCOVERY FUND</StockNm>
        <EOYBookValueAmt>25000</EOYBookValueAmt>
        <EOYFMVAmt>25899</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BARONS PARTNERS FUND</StockNm>
        <EOYBookValueAmt>125000</EOYBookValueAmt>
        <EOYFMVAmt>133351</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BLACKROCK MIDCAP GROWTH</StockNm>
        <EOYBookValueAmt>225000</EOYBookValueAmt>
        <EOYFMVAmt>247868</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AKRE FOCUS FUND RETAIL</StockNm>
        <EOYBookValueAmt>225000</EOYBookValueAmt>
        <EOYFMVAmt>236290</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VANGUARD TAX MANGED CAP APPREC</StockNm>
        <EOYBookValueAmt>104455</EOYBookValueAmt>
        <EOYFMVAmt>107855</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NEROTROPE INC</StockNm>
        <EOYBookValueAmt>12400</EOYBookValueAmt>
        <EOYFMVAmt>1964</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>BANK CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>1</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>TAXES - FIT</CategoryTxt>
        <Amt>39156</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>