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  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2017-11-01T15:30:52-07:00</ReturnTs>
    <TaxPeriodEndDt>2017-09-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Saul N Friedman &amp; Company</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1333 60th Street</AddressLine1Txt>
        <CityNm>Brooklyn</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>11219</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2016-10-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>113405442</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE SHALOM ISH FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>SHAL</BusinessNameControlTxt>
      <PhoneNum>7182321111</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1333 60TH STREET</AddressLine1Txt>
        <CityNm>BROOKLYN</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>11219</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MORRIS FRIEDMAN</PersonNm>
      <PersonTitleTxt>Trustee</PersonTitleTxt>
      <SignatureDt>2017-11-01</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>Ben Kasirer CPA</PreparerPersonNm>
      <PTIN>P00287646</PTIN>
      <PhoneNum>7182321111</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2016</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
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      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2750090</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
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        <DividendsRevAndExpnssAmt>24080</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>24080</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>24080</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>78464</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>656799</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>78464</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSchedule2">70867</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>-4113</OtherIncomeNetInvstIncmAmt>
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        <TotalRevAndExpnssAmt>684661</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>98431</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>98979</TotalAdjNetIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">950</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>950</TaxesNetInvstIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">11273</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>11273</OtherExpensesNetInvstIncmAmt>
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        <TotOprExpensesNetInvstIncmAmt>12223</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>680000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>680000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>692223</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>12223</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>680000</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-7562</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>86208</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>98979</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
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        <CashEOYAmt>21901</CashEOYAmt>
        <CashEOYFMVAmt>21901</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>201</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>1853</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>1853</SavAndTempCashInvstEOYFMVAmt>
        <OtherNtsAndLoansRcvblAmt>22600</OtherNtsAndLoansRcvblAmt>
        <OtherNtsAndLoansRcvblBOYAmt>34300</OtherNtsAndLoansRcvblBOYAmt>
        <OtherNtsAndLoansRcvblEOYAmt referenceDocumentId="OtherNotesLoansReceviableLongS">22600</OtherNtsAndLoansRcvblEOYAmt>
        <OtherNtsAndLoansRcvblEOYFMVAmt>22600</OtherNtsAndLoansRcvblEOYFMVAmt>
        <CorporateStockBOYAmt>1210547</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestmentsCorpStockSchedule">888329</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>753736</CorporateStockEOYFMVAmt>
        <OtherInvestmentsBOYAmt>1372480</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvestmentsOtherSchedule2">1854204</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>1950000</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>2715241</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>2788887</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2750090</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
        <UnrestrictedBOYAmt>2715241</UnrestrictedBOYAmt>
        <UnrestrictedEOYAmt>2788887</UnrestrictedEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>2715241</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>2788887</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>2715241</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>2788887</TotalLiabilitiesNetAstEOYAmt>
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      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>2715241</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-7562</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="OtherIncreasesSchedule">81208</OtherIncreasesAmt>
        <SubtotalAmt>2788887</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>2788887</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MERRILL LYNCH - SCHEDULE ATTACHED</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2001-01-01</AcquiredDt>
          <SoldDt>2017-12-31</SoldDt>
          <GrossSalesPriceAmt>656799</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>578335</CostOrOtherBasisAmt>
          <GainOrLossAmt>78464</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>78464</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>78464</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>698273</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>2702885</NetVlNoncharitableAssetsYr1Amt>
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        <NetVlNoncharitableAssetsYr2Amt>3156056</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.15315</DistributionYr2Rt>
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        <NetVlNoncharitableAssetsYr3Amt>3182148</NetVlNoncharitableAssetsYr3Amt>
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        <DistributionYr5Rt>0.07809</DistributionYr5Rt>
        <TotalDistributionRt>0.754569</TotalDistributionRt>
        <AverageDistributionRt>0.150914</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>2802390</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>422920</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>862</NetInvestmentIncomePctAmt>
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      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>862</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>862</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>862</TaxBasedOnInvestmentIncomeAmt>
        <Form2220AttachedInd referenceDocumentId="IRS2220">X</Form2220AttachedInd>
        <EsPenaltyAmt>17</EsPenaltyAmt>
        <TaxDueAmt>879</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>false</Form990TFiledInd>
        <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>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>THE FOUNDATION</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>7182321111</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>1333 60TH STREET</AddressLine1Txt>
          <CityNm>BROOKLYN</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>11219</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
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      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <UndistrIncmSect4942a2NotAppInd>false</UndistrIncmSect4942a2NotAppInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <ExcessBusinessHoldingsInd>false</ExcessBusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd>false</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <ProceedsOrNetIncomeInd>false</ProceedsOrNetIncomeInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MORRIS FRIEDMAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>1151 57TH STREET</AddressLine1Txt>
            <CityNm>BROOKLYN</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11219</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ABRAHAM FRIEDMAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>30 ROOSEVELT AVE</AddressLine1Txt>
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            <StateAbbreviationCd>NJ</StateAbbreviationCd>
            <ZIPCd>08701</ZIPCd>
          </USAddress>
          <TitleTxt>Controller</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>866368</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>111998</AverageMonthlyCashBalancesAmt>
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        <TotalFMVOfUnusedAssetsAmt>2845066</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2845066</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>42676</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2802390</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>140120</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>140120</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>862</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>862</TotalTaxAmt>
        <DistributableBeforeAdjAmt>139258</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>139258</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>139258</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>680000</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>680000</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>862</PctSect4940eOrgNetInvstIncmAmt>
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        <ExcessDistributionCyovYr3Amt>279358</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>330049</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>564983</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>1517934</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>680000</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>139258</AppliedToCurrentYearAmt>
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        <TotalCorpusAmt>2058676</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>84243</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>1974433</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>259301</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>279358</ExcessFromYear3Amt>
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      <SupplementaryInformationGrp>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>YESHIVA OF KASHO - OHEL SHMUEL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>101 SPENCER STREET</AddressLine1Txt>
            <CityNm>BROOKLYN</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11205</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>N/A</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE SUPPORT FOR A RELIGIOUS INSTITUTION- TAX EXEMPT 501(C)(3) SCHOOL</GrantOrContributionPurposeTxt>
          <Amt>575000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>IBF FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1735 FORTY SEVENTH STREET</AddressLine1Txt>
            <CityNm>BROOKLYN</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11204</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>N/A</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE SUPPORT FOR A CHARITABLE FOUNDATION TAX EXEMPT 501(C)(3)</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>YESHIVA TORAS EMES</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>55 JAMES STREET</AddressLine1Txt>
            <CityNm>LAKEWOOD</CityNm>
            <StateAbbreviationCd>NJ</StateAbbreviationCd>
            <ZIPCd>08701</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>N/A</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE SUPPORT FOR A RELIGIOUS EDUCATIONAL INSTITUTION- TAX EXEMPT 501(C)(3)</GrantOrContributionPurposeTxt>
          <Amt>12000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CONGREGATION KHAL PREMISHLAN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>510 AVENUE M</AddressLine1Txt>
            <CityNm>BROOKLYN</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11230</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE SUPPORT FOR A RELIGIOUS EDUCATIONAL INSTITUTION- TAX EXEMPT 501(C)(3)</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CONGREGATION KHAL BAIS SHMIEL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>POST OFFICE BOX 1099</AddressLine1Txt>
            <CityNm>MONSEY</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10952</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE SUPPORT FOR A RELIGIOUS CONGREGATIONAL INSTITUTION- TAX EXEMPT 501(C)(3)</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CONGREGATION TOV LAKOL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>4716 17TH AVE</AddressLine1Txt>
            <CityNm>BROOKLYN</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11204</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE SUPPORT FOR A RELIGIOUS CONGREGATIONAL INSTITUTION- TAX EXEMPT 501(C)(3)</GrantOrContributionPurposeTxt>
          <Amt>18000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>680000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>24080</ExclusionAmt>
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        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>78464</ExclusionAmt>
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        <OtherRevenueDescribedGrp>
          <Desc>BROADWAY WEST ASSOC K-1</Desc>
          <ExclusionCd>1</ExclusionCd>
          <ExclusionAmt>-20911</ExclusionAmt>
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        <OtherRevenueDescribedGrp>
          <Desc>CFP 2 LP K-1</Desc>
          <ExclusionCd>1</ExclusionCd>
          <ExclusionAmt>1580</ExclusionAmt>
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        <OtherRevenueDescribedGrp>
          <Desc>SHELBOURNE CONN K-1</Desc>
          <ExclusionCd>1</ExclusionCd>
          <ExclusionAmt>49642</ExclusionAmt>
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        <OtherRevenueDescribedGrp>
          <Desc>SHELBOURNE JERSEY K-1</Desc>
          <ExclusionCd>1</ExclusionCd>
          <ExclusionAmt>40556</ExclusionAmt>
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        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>173411</ExclusionAmt>
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        <TotalIncomeProducingActyAmt>173411</TotalIncomeProducingActyAmt>
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      <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" softwareId="16000303" softwareVersionNum="2016v3.0">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>CNC ASSOCIATES</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>101 KENTILE ROAD</AddressLine1Txt>
          <CityNm>SOUTH PLAINFIELD</CityNm>
          <StateAbbreviationCd>NJ</StateAbbreviationCd>
          <ZIPCd>07080</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>11250</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
      <ContributorInformationGrp>
        <ContributorNum>2</ContributorNum>
        <ContributorPersonNm>REGISTER LITHOGRAPHERS LTD</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>1155 BLOOMFIELD AVENUE</AddressLine1Txt>
          <CityNm>CLIFTON</CityNm>
          <StateAbbreviationCd>NJ</StateAbbreviationCd>
          <ZIPCd>07012</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>500000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <InvestmentsCorporateStockGrp>
        <StockNm>FIDELITY INVESTMENTS -BANKUNITED INC</StockNm>
        <EOYBookValueAmt>125000</EOYBookValueAmt>
        <EOYFMVAmt>69753</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MERRILL LYNCH SECURITES=SEE ATTACHED</StockNm>
        <EOYBookValueAmt>763329</EOYBookValueAmt>
        <EOYFMVAmt>683983</EOYFMVAmt>
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    </InvestmentsCorpStockSchedule>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN CFP 2, LP K-1</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SHELBOURNE JERSEY PARTNERS, LLC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>427846</BookValueAmt>
        <EOYFMVAmt>500000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>REAL ESTATE JERSEY CITY</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>480559</BookValueAmt>
        <EOYFMVAmt>500000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SHELBOURNE CT EQUITIES LLC</CategoryOrItemTxt>
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        <EOYFMVAmt>500000</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BROADWAY WEST PERRYVILLE LLC</CategoryOrItemTxt>
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        <EOYFMVAmt>450000</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
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      <OtherExpensesScheduleGrp>
        <Desc>BANK CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>11</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>11</NetInvestmentIncomeAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>FILING FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>250</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>250</NetInvestmentIncomeAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT ADVISORY FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>10931</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>10931</NetInvestmentIncomeAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>MISC. EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>81</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>81</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherIncomeDetail>
        <Desc>BROADWAY WEST ASSOC K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>-20911</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>-20911</AdjustedNetIncomeAmt>
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      <OtherIncomeDetail>
        <Desc>CFP 2 LP K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>1580</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-4113</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>5693</AdjustedNetIncomeAmt>
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      <OtherIncomeDetail>
        <Desc>SHELBOURNE CONN K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>49642</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>49561</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>SHELBOURNE JERSEY K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>40556</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>40556</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherIncreasesDetail>
        <Desc>ADJUSTMENTS FOR COST BASIS - K1 ENDING BALANCES</Desc>
        <Amt>81208</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherNotesLoansRcvblLongSch documentId="OtherNotesLoansReceviableLongS" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherNotesLoansRcvblLongGrp>
        <BorrowerNameGrp>
          <PersonNm>MOSHE ELIMELECH KERN REISEL</PersonNm>
        </BorrowerNameGrp>
        <InsiderRelationshipTxt>NONE</InsiderRelationshipTxt>
        <LoanOriginalAmt>100000</LoanOriginalAmt>
        <BalanceDueAmt>22600</BalanceDueAmt>
        <InterestRt>0.0000</InterestRt>
        <SecurityProvidedBorrowerTxt>N/A</SecurityProvidedBorrowerTxt>
        <LoanPurposeTxt>LOAN TO A 501(C)(3) ORGANIZ</LoanPurposeTxt>
        <LenderConsiderationDesc>N/A</LenderConsiderationDesc>
      </OtherNotesLoansRcvblLongGrp>
    </OtherNotesLoansRcvblLongSch>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAX PAID</CategoryTxt>
        <Amt>950</Amt>
        <NetInvestmentIncomeAmt>950</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>