﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xsi:schemaLocation="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2015v2.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2016-05-11T13:29:54-05:00</ReturnTs>
    <TaxPeriodEndDt>2015-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>WITHUMSMITHBROWN PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1411 BROADWAY 9TH FLOOR</AddressLine1Txt>
        <CityNm>NEW YORK</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>10018</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2015-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>136136957</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>MILTON &amp; MIRIAM HANDLER FOUNDATION</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>C/O ALBERT KALTER PC</BusinessNameLine2Txt>
      </BusinessName>
      <InCareOfNm>% ALBERT KALTER PC</InCareOfNm>
      <BusinessNameControlTxt>MILT</BusinessNameControlTxt>
      <PhoneNum>2129645485</PhoneNum>
      <USAddress>
        <AddressLine1Txt>250 WEST 55TH STREET</AddressLine1Txt>
        <CityNm>NEW YORK</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>100197599</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ALBERT KALTER</PersonNm>
      <PersonTitleTxt>SECRETARY</PersonTitleTxt>
      <PhoneNum>2129645485</PhoneNum>
      <SignatureDt>2016-05-15</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>ROBERT DEMMETT CPA</PreparerPersonNm>
      <PTIN>P00103809</PTIN>
      <PhoneNum>2129645485</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2015</TaxYr>
    <BuildTS>2016-09-27 15:27:22Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="12">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>7993845</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>0</ContriRcvdRevAndExpnssAmt>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>549</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>549</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>146370</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>146370</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>76520</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>1600614</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>76520</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSch2">42379</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>19352</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>265818</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>242791</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>75000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>75000</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSch">10500</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>5250</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>0</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>5250</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OthProfFeesSch">35726</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>23817</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">22479</TaxesRevAndExpnssAmt>
        <TaxesDsbrsChrtblAmt>5738</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSch">284</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesDsbrsChrtblAmt>284</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>143989</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>29067</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>0</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>86272</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>450000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>450000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>593989</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>29067</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>0</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>536272</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-328171</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>213724</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>39714</CashBOYAmt>
        <CashEOYAmt>48898</CashEOYAmt>
        <CashEOYFMVAmt>48898</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>266385</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>508745</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>508745</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>445662</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="InvGovtObligSch">0</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>0</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>1698648</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestCorpStockSch">1835702</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>2882065</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>121962</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="InvestCorpBondsSch">302203</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>225907</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>3346183</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvOtherSch2">2894835</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>4328230</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>5918554</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>5590383</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>7993845</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="OtherLiabSch">289013</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="OtherLiabSch">289013</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>289013</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>289013</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <CapitalStockBOYAmt>5629541</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>5301370</CapitalStockEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>5629541</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>5301370</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>5918554</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>5590383</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>5629541</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-328171</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>5301370</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>5301370</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN - SEE ATTACHED</PropertyDesc>
          <GrossSalesPriceAmt>543631</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>388886</CostOrOtherBasisAmt>
          <GainOrLossAmt>154745</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>154745</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL LOSS - SEE ATTACHED</PropertyDesc>
          <GrossSalesPriceAmt>1054775</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1135208</CostOrOtherBasisAmt>
          <GainOrLossAmt>-80433</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-80433</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2208</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>76520</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>803931</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>8546125</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.09407</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>475988</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>8271666</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.057544</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>641021</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>7748087</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.082733</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>658803</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>7932872</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.083047</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>604395</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>7811523</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.077372</DistributionYr5Rt>
        <TotalDistributionRt>0.394766</TotalDistributionRt>
        <AverageDistributionRt>0.078953</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>8324820</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>657270</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>2137</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>659407</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>536272</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>4274</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>4274</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>4274</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>5120</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>5120</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>11</EsPenaltyAmt>
        <OverpaymentAmt>835</OverpaymentAmt>
        <AppliedToESTaxAmt>835</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd referenceDocumentId="BinaryAttach BinaryAttachN1">false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd referenceDocumentId="BinaryAttach BinaryAttachN1">false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>true</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>true</Form990TFiledInd>
        <OrganizationDissolvedEtcInd referenceDocumentId="BinaryAttach BinaryAttachN1">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>ALBERT KALTER PC</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>2129645485</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>225 BROADWAY SUITE 1806</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>100073751</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>true</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LAWRENCE NEWMAN ESQ</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O FRIEDMAN KAPLAN1633 BROADWAY</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10019</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>6.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>37500</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ALBERT KALTER</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O ALBERT KALTER PC 225 BROADWAY</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10007</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>6.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>37500</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>DAHLIA KALTER</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O ALBERT KALTER PC 225 BROADWAY</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10007</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>NOT APPLICABLE</Description1Txt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>NONE</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>7837860</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>613734</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>8451594</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>8451594</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>126774</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>8324820</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>416241</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>416241</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>4274</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>4274</TotalTaxAmt>
        <DistributableBeforeAdjAmt>411967</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>411967</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>411967</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>536272</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>536272</QualifyingDistributionsAmt>
        <AdjustedQualifyingDistriAmt>536272</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>411967</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2013</PriorYear1Yr>
        <PriorYear2Yr>2012</PriorYear2Yr>
        <PriorYear3Yr>2011</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>219650</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>270366</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>275351</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>72314</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>386805</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>1224486</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>536272</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>411967</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>124305</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>1348791</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>219650</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>1129141</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>270366</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>275351</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>72314</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>386805</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>124305</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp />
      <SupplementaryInformationGrp>
        <ContributingManagerNm>NONE</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>ALBERT KALTER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PER RETURN</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10007</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>2129645485</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>BY LETTER INCLUDING PROPOSAL FOR UTILIZATION OF FUNDS</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>OCTOBER 31 OF EACH YEAR</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>NONE</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CARMEL ACADEMY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>270 LAKE AVENUE</AddressLine1Txt>
            <CityNm>GREENWICH</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06830</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>COLUMBIA UNIVERSITY LAW SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>435 W 116TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10025</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>DREXEL UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3141 CHESTNUT STREET</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19104</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>COLUMBIA UNIVERSITY NAOMI BERRIE DIABETES CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1150 SAINT NICHOLAS AVE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10032</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NORTH SHORE- LONG ISLAND JEWISH HEALTH SYSTEM</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>125 COMMUNITY DRIVE</AddressLine1Txt>
            <CityNm>GREAT NECK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11021</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NEW YORK PRESBYTERIAN HOSPITAL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>525 E 68TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10065</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PREP FOR PREP</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>328 W 71ST</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10023</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>REACH FOR THE STARS LEARNING CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3300 KINGS HWY</AddressLine1Txt>
            <CityNm>BROOKLYN</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11234</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TOURO LAW SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>225 EASTVIEW DR</AddressLine1Txt>
            <CityNm>CENTRAL ISLIP</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11722</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMIT</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>817 BROADWAY 3RD FLOOR</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10003</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED GRANT</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>450000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>549</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>146370</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncmPartVIIGrp>
          <BusinessCd>531390</BusinessCd>
          <UnrelatedBusinessTaxblIncmAmt>16914</UnrelatedBusinessTaxblIncmAmt>
          <RelatedOrExemptFunctionIncmAmt>25465</RelatedOrExemptFunctionIncmAmt>
        </OtherInvestmentIncmPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>76520</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>16914</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>223439</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>25465</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>265818</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>
    <AccountingFeesSchedule documentId="AccountingFeesSch">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>10500</Amt>
        <NetInvestmentIncomeAmt>5250</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5250</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorporateBondsGrp>
        <BondNm>SEE ATTACHED</BondNm>
        <EOYBookValueAmt>302203</EOYBookValueAmt>
        <EOYFMVAmt>225907</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>SEE ATTACHED</StockNm>
        <EOYBookValueAmt>1835702</EOYBookValueAmt>
        <EOYFMVAmt>2882065</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="InvGovtObligSch">
      <USGovtObligationsBookVlEOYAmt>0</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>0</USGovtObligationsEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SEE ATTACHED</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2894835</BookValueAmt>
        <EOYFMVAmt>4328230</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>NYS FILING FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>250</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>250</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>34</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>34</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>PARTNERSHIP INCOME PER BOOKS (UBTI)</Desc>
        <RevenueAndExpensesPerBooksAmt>16914</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>16914</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>PARTNERSHIP INCOME PER BOOKS (NII)</Desc>
        <RevenueAndExpensesPerBooksAmt>2438</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>2438</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>PARTNERSHIP INCOME PER BOOKS (DISTRIBUT)</Desc>
        <RevenueAndExpensesPerBooksAmt>23027</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="OtherLiabSch">
      <OtherLiabilitiesDetail>
        <Desc>PARTNERSHIPS</Desc>
        <BOYBookValueAmt>289013</BOYBookValueAmt>
        <EOYBookValueAmt>289013</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT ADVISORY FEES</CategoryTxt>
        <Amt>35726</Amt>
        <NetInvestmentIncomeAmt>23817</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>FED EXCISE TAX (NET REFUND)</CategoryTxt>
        <Amt>16741</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>EMPLOYMENT TAX</CategoryTxt>
        <Amt>5738</Amt>
        <DisbursementsCharitablePrpsAmt>5738</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>