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s'

Form

990-PF

Return of Private Foundation
or Section 4947 (a)(1) Nonexempt Charitable Trust Treated as a Private Foundation

OMB No 1545-0052

Department of the Treasury

Internal Revenue Service

Note : The foundation may be able to use a copy of this return to satisfy state reporting requirements. r , and ending For calendar year 2005 , or tax year beginning
r6....L nn film+., nh, 1 i In,f, el _t_ I Cmsl rufi, rn I I Amondarf return I 1 ArfrlrocQ channe

2

00

6

n Name chancre

Name of foundation Use the IRS

A Employer Identification number

label. Otherwise , C ARL & RUTH SHAPIRO FAMILY FOUNDATION Number and street (or P O box number If mail is not delivered to street address) print

04-6135027
Room/sulte

B Telephone number

or type .

399 BOYLSTON STREET

617-778-7999
C If exemption application Is pending , check here

See Specific City or town, state , and ZIP code Instructions . 02116 OSTON MA X Section 501 (c)( 3 ) exem pt p rivate foundation of organization H Check type 0 Section 4947( a)(1) nonexempt charitable trust 0 Other taxable private foundation I Fair market value of all assets at end of year (from Part ll, co!. (c), line 16) 0 Accrual M Cash J Accounting method Other (specify) 0 (Part 1, column (d) must be on cash basis.) ( a) Revenue and ex p enses per books (b) Net investment income

D 1. Foreign organizations , check here
2. Foreign organizations meeting the 85% test, check here and attach computation ^ a

E If private foundation status was terminated ^0 under section 507 (b)(1)(A), check here F If the foundation is in a 60-month termination under section 507 ( b )( 1 ) B ), check here ^ ( c) Adjusted net income
(d) Disbursements for charitable purposes
(cash basis only)

^$
Paft 1

254113534 .

Analysis of Revenue and Expenses (rhe total of amounts in columns (b), (c), and (d) may not
necessarily equal the amounts in column (a))

1
2
3

Contnbutlons , gifts, grants , etc , received
Check if the foundation Is not requm:dto attach Sch B
savings Interest invesstmennts and temporary

34968249 .

N/A

4 Dividends and interest from securities 5a Gross rents
b Net rental income or (loss) 6a Net pain or (loss) from sale of assets not on line 10
Gross sales puce for all

2123089. 6158625 .

2123089. 6158625.

S tatement 1
S tatement 2

51597039 .

b asse t s on l ine 6 a
y 7

284987192. 51597039.

Capital gain net income (from Part IV, line 2)

8 Net short-term capital gain 9 Income modifications
Gross sales less returns 10a and allowances t) Less Cost of goods sold

c Gross profit or (loss) 11 Other Income 12 Total . Add lines 1throu g h 11
13 Compensation of officers , directors , trustees , etc

94847002.
7 5 2 4 8.

59878751/
0. 7 5 2 4 8.

14

Other employee salaries and wages

43048.
15085 .
3

0.
0.

43048.
15085 .

C
W

15 Pension plans , employee benefits Stmt 16a Legal fees

b Accounting fees
c Other professional fees
17 19 Interest

Stmt 4
S tmt 5

34089. 11000.
16871.

17044. 11000.
0.

17045. 0.
16871 .

18 Taxes E 20 Occupancy
4 21 c 22
C'V

_

Stmt 6

Depreciation and depletion Travel , conferences , and meetings Punting and publications

659151. 355. 37950. 1769.
14777.

0. 0. 0. 0.
0.

11247. 37950. 1769.
14 717 .

0 23 Other expenses

Stmt 7

24 Total operating and administrative expenses . Add lines 13 through 23 0 25 Contributions , gifts, grants paid 26 Total expenses and disbursements. Add lines 24 and 25

a

9 0 9 34 3. 10159785. 11069128. 83777874.

2 80 4 4.

2 32 9 8 0. 101597 8 5. 10392765.

28044.

0 LU

27 Subtract line 26 from line 12.
a Excess of revenue over expenses and disbursements

b Net Investment income of negative, enter -) -0 c Adjusted net Income of negative, enter -0.) B
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N/A
Form 990-PF (2006)

LHA For Privacy Act and Paperwork Reduction Act Notice, see the instructions.

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c

Form 990-PF( 2006)
r .t

CARL & RUTH SHAPIRO FAM ILY FOUNDATIO N Beginning of year B a l ance Sh ee t s column should beesfor end•of-yearamounfsonly " dac1edsc11ed '' andan'°" nts In the ° pton
( a) Book Value

04-6135027
( b) Book Value

Page2

End of year (e) Fair M arket Value

1 Cash - non-Interest-beanng
2 Savings and temporary cash investments 3 Accounts receivable ^ Less - allowance for doubtful accounts ^ 4 Pledges receivable ^ Less allowance for doubtful accounts ^ 5 Grants receivable 6 Rece ivables due from officers, directors, trustees , and other disqualified persons
7 Other notes and loans receivable ^

1130.

88046.

88046.

31488270.

49447453.

49447453.

Less' allowance for doubtful accounts ^ 8 Inventories for sale or use 9 Prepaid expenses and deferred charges 10a Investments - U S and state government obligations b Investments - corporate stock c Investments - corporate bonds
11 Investments - land buildings , and equipment basis Less accumulated depre radon ^ ^

11800. Stmt Stmt 8 9

2950.

121964637. 15730680.

203354089. 0.

2950. 204493586. 0.

12 13

Investments - mortgage loans Investments - other

14 Land , buildings , and equipment basis ^
IessaccumuWtWdeprxaton

96036. :

Stmt 01

15

Other assets (describe

95337. Statement 11 )

624. 0. 16 919 7141.

699. 80800. 252974037.

699. 80800. 254113534.

16 Total assets to be com pleted b all filers 17 Accounts payable and accrued expenses 18 Grants payable in 19 Deferred revenue
20 Loans from officers , directors , trustees , and other disqualified persons

2 21 J 22

Mortgages and other notes payable

Other liabilities (describe ^

Statement

12)

978.
978.

0.
0.

23 Total liabilities (add lines 17 throu g h 22 ) Foundations that follow SFAS 117, check here

^ 0

and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted m 25 Temporarily restncted co 26 Permanently restricted Foundations that do not follow SFAS 117 , check here and complete lines 27 through 31. r` °

^ 0

27 Capital stock , trust principal , or current funds
28 Paid-in or capital surplus , or land , bldg , and equipment fund

29046392.
0.

29046392.
0.

29 Retained earnings , accumulated income , endowment, or other funds

Z 30 Total net assets or fund balances
31 Total liabilities and net assets and balances

.

.

.

140149771. 169196163. 16 919 7141.

22 392 7645 . 252974037 . 252974037 .

p
1

.

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year - Part II, column (a), line 30 (must agree with end-of-year figure reported on pnoryear's return) 2 Enter amount from Part I, line 27a 3 Other increases not included in line 2 (itemize) ^ 4 Add lines 1, 2, and 3 5 Decreases not included in line 2 (itemize) ^ 6 Total net assets or fu nd balances at end of year (line 4 minus line 5) - Part II, column (b), line 30
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1 2

169196163. 83777874.

131
141

0.
252974037.
0. 252974037. Form 990-PF (2006)

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CARL & RUTH SHAPIRO FAMILY FOUNDATION Form 990-PF (2006) P t lV CaDital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e g , real estate , 2-story brick warehouse ; or common stock , 200 shs . MLC Co) 1a ( b How acquired - Purchase D - Donation

04-6135027
( c Date acquired (mo , day, yr)

Pa g e 3

( d) Date sold (mo , day, yr )

b
c
d

See Attached Statements

e
(e) Gross sales price ( t) Depreciation allowed (or allowable ) (g) Cost or other basis plus expense of sale (h) Gain or (loss) (e) plus (f) minus (g)

a
b

c

d
e 284987192.
(I) F M V as of 12/31/69 (1) Adjusted basis as of 12/31/69

233390153.
( k) Excess of col (i) over col . (1), if any

51597039.
(I) Gains (Col (h) gain minus c ol bu t than -0-) or (k), le (f rom coh

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69

a
b

c
d

e
2 Capital gain net income or ( net capital loss) also enter in Part I , line 7 1 ^ If gain,) If ?loss) , enter -0- in Part I , line 7

51597039.
2 51597039.

3 Net short-term capital gain or ( loss) as defined in sections 1222 (5) and (6) If gain, also enter in Part I , line 8, column (c) If (loss ), enter -0- in Part I, line 8 3 I part v_1 (uualltlcatlon Under section 494U(e) Tor Reduced I ax on Net Investment Income (For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income ) If section 4940(d)(2) applies, leave this part blank. Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? It Yes," the foundation does not qualify under section 4940 (e) Do not complete this part 1 Enter the aooroonate amount in each column for each year : see instructions before makina any entries Base priod years e Calendar year or tax year be g innin g ( b) Adjusted qualifying distributions (c) Net value of nonchantable -use assets

N/A

Yes ^X No

on Distribution ratio (col (b) drvided by col (c))

2005 2004 2003 2002 2001

6706051. 3345224. 6809240. 7700592. 7929251.

170221426. 155208719. 148563393. 139233371. 133023383.
2 3 . . 4 5 6 7 8

.039396 .021553 .045834 .055307 .059608
.221698

2 Total of line 1 , column (d) 3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5 , or by the number of years the foundation has been in existence if less than 5 years 4 5 Enter the net value of nonchantable -use assets for 2006 from Part X, line 5 Multiply line 4 by line 3 . . . .

. 044340 212735342. 9432685. 598507 .
10031192.

6 Enter 1 % of net investment income (I% of Part I, line 27b) 7 Addlines5and6 ..

8 Enter qualifying distributions from Part XII , line 4 If line 8 is equal to or greater than line 7, check the box in Part VI, line 1 b, and complete that part using a 1 % tax rate See the Part VI instructions
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Form 990-PF (2006) fnd 3 2006.05000 CARL & RUTH SHAPIRO FAMILY FND 1

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11 Form 990-PF(2006) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Page 4 Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 - see instructions) art Vt
1 a Exempt operating foundations described in section 4940(d)(2), check here ^ 0 and enter "N/A" on line 1 Date of ruling letter ( attach copy of ruling letter If necessary-see Instructions) b Domestic foundations that meet the section 4940(e) requirements in Part V, check here ^ [X and enter 1 % of Part I, line 27b c All other domestic foundations enter 2% of line 27b Exempt foreign organizations enter 4% of Part I, line 12, col (b) 2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 3 Add lines 1 and 2 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) 5 Tax based on Investment Income . Subtract line 4 from line 3 If zero or less, enter -0_ 6 Credits/Payments. 6a a 2006 estimated tax payments and 2005 overpayment credited to 2006 6b b Exempt foreign organizations - tax withheld at source 6c c Tax paid with application for extension of time to file (Form 8868) 6d d Backup withholding erroneously withheld 7 Total credits and payments. Add lines 6a through 6d . 8 Enter any penalty for underpayment of estimated tax Check here EX if Form 2220 is attached 9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amount owed 4 10 Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid 11 Enter the amount of line 10 to be Credited to 2007 estimated tax ^

1

598507 .

2 3 4 5

0.

598507.
0.

598507 .

602000 .

7 8 9 10 11

602000 . 1275. 2218

^ ^ 2 2 18 .Refunded ^

.

0.

31avt V11-A,

Statements Regarding Activities
la 1b Yes No X X

1 a During the tax year, did the foundation attempt to influence any national , state, or local legislation or did it participate or intervene in any political campaigns b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition)? If the answer is "Yes" to la or 1 b, attach a detailed description of the activities and copies of any materials published or distributed by the foundation in connection with the activities. c Did the foundation file Form 1120 -POL for this year? d Enter the amount (it any) of tax on political expenditures (section 4955) imposed during the year. 0. (2) On foundation managers. ^ $ 0. (1) On the foundation ^ $ e Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed on foundation 0. managers ^ $ 2 Has the foundation engaged in any activities that have not previously been reported to the IRS? If "Yes, " attach a detailed description of the activities. 3 Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes 4a Did the foundation have unrelated business gross income of $1,000 or more during the year? .. b If'Yes * has it filed a tax return on Form 990 -T for this year? 5 Was there a liquidation, termination, dissolution, or substantial contraction during the year? If "Yes," attach the statement required by General Instruction T. 6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either • By language in the governing instrument, or • By state legislation that effectively amends the governing instrument so that no mandatory directions that conflict with the state law remain in the governing instrument? 7 Did the foundation have at least $5,000 in assets at any time during the year? If "Yes, " complete Part ll, col. (c), and Part XV.

1c

X

2

X

3
4a
N/A 4b

X
X

5

X

6 7

X X

8a Enter the states to which the foundation reports or with which it is registered (see instructions) ^ MA
b If the answer is 'Yes' to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state as required by General Instruction G? If "No, " attach explanation 9 Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2006 or the taxable year beginning in 2006 (see instructions for Part XIV)? If "Yes," complete Part XIV . 0 Did any Dersons become substantial contributors dunna the tax year? it -v..' attach a schedule listina their names and addresses

8b

X

9 X 10 X Form 990-PF (2006)

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11 Form 490-PF ( 2006) CARL & RUTH SHAPIRO FAMILY FOUNDATION VII-A-1 Statements Regarding Activities Continued #

04-6135027

Page5

11a At any time during the year , did the foundation , directly or indirectly , own a controlled entity within the meaning of section 512 (b)(13)' ... If 'Yes' attach schedule . (see instructions ) If 'Yes , did the foundation have a binding written contract in effect on August 17, 2006, covering the interest, rents, royalties, and b N/A .. annuities described in the attachment for line 11 a ? . .. . 12 Did the foundation acquire a direct or indirect interest in any applicable insurance contracts 13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? N/A Web site address ^

11a 11b 12 13

X

X X

14 The books are m care of ^ WELLESLEY CAPITAL MANAGEMENT,

INC.

Telephone no ^ 7 81-2 35-610 7

Locatedat ^ ONE WASHINGTON ST.
15

SUITE 202,

WELLESLEY,

MA.
^

ZIP+4 ^ 02481
^0 15 N/A

Section 4947( a)(1) nonexempt charitable trusts filing Form 990- PF in lieu of Form 1041 - Check here and enter the amount of tax-exem pt interest received or accrued durin g the year

p2

VU-fl Statements Regarding Activities for Which Form 4720 May Be Required Yes No
0 Yes I1 No Yes 0 No Yes 0 No Yes 0 No . . _ Q Yes EXI No

File Form 4720 if any item is checked in the "Yes" column , unless an exception applies. 1 a During the year did the foundation ( either directly or indirectly) (1) Engage in the sale or exchange, or leasing of property with a disqualified person? (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? .. (3) Furnish goods , services , or facilities to ( or accept them from) a disqualified person? (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? (5) Transfer any income or assets to a disqualified person ( or make any of either available for the benefit or use of a disqualified person )?

(6) Agree to pay money or property to a govemment official? ( Exception . Check 'No' if the foundation agreed to make a grant to or to employ the official for a period after termination of government service, if terminating within 90 days ) b If any answer is'Yes' to 1a ( 1)-(6), did any of the acts fad to qualify under the exceptions described in Regulations section 53 4941 (d)-3 or in a current notice regarding disaster assistance ( see page 22 of the instructions )?

L1 Yes 0 No N/A lb

Organizations relying on a current notice regarding disaster assistance check here

^0
1c X

c Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts , that were not corrected before the first day of the tax year beginning in 2006' 2 Taxes on failure to distribute income ( section 4942 ) (does not apply for years the foundation was a private operating foundation defined in section 4942(1)(3) or 4942 (j)(5)) a At the end of tax year 2006 , did the foundation have any undistributed income ( lines 6d and 6e, Part XIII) for tax year( s) beginning Yes FX No before 20067 If 'Yes, list the years ^ b Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942 ( a)(2) (relating to incorrect valuation of assets ) to the year' s undistributed income') ( If applying section 4942 ( a)(2) to all years listed , answer "No* and attach

statement - see instructions .)

.

.

N/A

2b

c If the provisions of section 4942 (a)(2) are being applied to any of the years listed in 2a , list the years here. 3a Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time . 0 Yes 0 No during the years purchase by the foundation or disqualified persons after b If 'Yes ; did it have excess business holdings in 2006 as a result of ( 1) any May 26 , 1969, (2) the lapse of the 5-year period ( or longer period approved by the Commissioner under section 4943 (c)(7)) to dispose of holdings acquired by gift or bequest , or (3) the lapse of the 10- , 15-, or 20-year first phase holding period ? (Use Schedule C, N/A Form 4720 , to determine if the foundation had excess business holdings in 2006.) chantable purposes? 4a Did the foundation invest during the year any amount in a manner that would jeopardize its b Did the foundation make any investment in a prior year ( but after December 31, 1969 ) that could jeopardize its charitable purpose that had not been removed from ieoaardv before the first day of the tax year beginning in 2006'

3b 4a 4b

Form 990-PF (2006)

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VII-

04-6135027 CARL & RUTH SHAPIRO FAMILY FOUNDATION Statements Regarding Activities for Which Form 4720 May Be Required Continued
Yes 0 No LI Yes 0 No Yes EKI No Yes EXI No

Page 6

5a During the year did the foundation pay or incur any amount to (1) Carry on propaganda , or otherwise attempt to influence legislation ( section 4945 (e))? (2) Influence the outcome of any specific public election (see section 4955), or to carry on , directly or indirectly, any voter registration drive? (3) Provide a grant to an individual for travel, study, or other similar purposes ? (4) Provide a grant to an organization other than a charitable , etc , organization described in section 509(a )( 1), (2), or (3), or section 4940 (d)(2)? (5) Provide for any purpose other than religious , charitable , scientific, literary , or educational purposes, or for

LI Yes [M No the prevention of cruelty to children or animals? answer is'Yes'to 5a(1)-(5), did any of the transactions fail to quality under the exceptions described in Regulations b If any N/A _ section 53 4945 or in a current notice regarding disaster assistance ( see instructions)? pop. 0 relying on a current notice regarding disaster assistance check here Organizations c If the answer is'Yes'to question 5a(4), does the foundation claim exemption from the tax because it maintained N/A 0 Yes 0 No expenditure responsibility for the grant ? 6a b 7a b If "Yes," attach the statement required by Regulations section 53.4945-5(d). Did the foundation , during the year, receive any funds , directly or indirectly , to pay premiums on a personal benefit contract ? Did the foundation , during the year , pay premiums , directly or indirectly , on a personal benefit contract? If you answered "Yes" to 6b, also file Form 8870. At any time during the tax year , was the foundation a party to a prohibited tax shelter transaction ? If yes , did the foundation receive any p roceeds or have any net income attributable to the transaction?

5b

0 Yes 0 No 6b Yes EXI No N/A X

7b

Information About Officers, Directors, Trustees , Foundation Managers , Highly T VIII 0 Paid Employees , and Contractors
I I it au nffirerc direr-Mrs- trustees_ foundation manaaers and their compensation.

(a) Name and address

(b) Title, and average hours per week devoted to p osition

(c) Compensation (d)Contribubonsto ( If not paid , °"";F ho„fi ""s enter -) co ensaton I

(e) Expense account, other allowances

See Statement 13

75248.

10855.

0.

7

rw...wswc^*i..n

.f fh,

Linhnet- neiA .-In-ac Inther than thnee innhiel a 1 on line 11_ IT none - enter " NUNt."

r v (a) Name and address of each employee paid more than $50,000

(b) Title and average hours p er week devoted to p osition

(c) Compensation

(^Contnbueonsto a dotnu l'"s and ensabon c

( e) Expense account, other allowances

None

Total number of other employees paid over $50,000

1 U Form 990-PF (2006)

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Form 990-PF (2006) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Information About Officers, Directors , Trustees, Foundation Managers, Highly Paid Employees, and Contractors Continued
3 Five highest-paid independent contractors for professional services . If none, enter " NONE." (a) Name and address of each person paid more than $50,000 (b) Type of service

Page 7

(c) Compensation

None

Total number of others receivin g over $50,000 for p rofessional services

^

0

#

t IX-A I Summary of Direct Charitable Activities
I Expenses

List the foundation's four largest direct charitable activities during the tax year Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.

I

N/A

Part JX-8 Summa ry of Pro ram - Related Investments
Describe the two largest program - related investments made by the foundation during the tax year on lines 1 and 2. Amount

1

N/A

2

All other program - related investments See instructions. 3

Total . Add lines 1 through 3

0.

Form 990-PF (2006)

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Form ?j90-PF ( 2006 ) Pat+i f 1

CARL

& RUTH SHAPIRO FAMILY FOUNDATION

04-6135027

Page8

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations , see instructions.)

Fair market value of assets not used ( or held for use ) directly in carrying out charitable , etc , purposes* Average monthly fair market value of securities a
b c d e Average of monthly cash balances Fair market value of all other assets . . Total (add lines 1 a, b, and c) Reduction claimed for blockage or other factors reported on lines 1a and 1c (attach detailed explanation) Acquisition indebtedness applicable to line 1 assets

.

.

.

la
1b 1C ld 0

175682121.

40292846.
215974967 .

.. le . . . .

2 3 4 5 6 P

2 3

0

Subtract line 2 from line ld Cash deemed held for charitable activities . Enter 1 1 /2% of line 3 (for greater amount , see instructions ) Net value of noncharitable - use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4 Minimum Investment return . Enter 5% of line 5 &

4
. . 5

6

21597 4 9 6 7. 3239625 . 212735342 . 10636767 .

Distributable Amount (see instructions ) ( Section 4942 (i)(3) and (I)(5) private operating foundations and certain foreign organizations check here ^ 0 and do not complete this part )

Minimum investment return from Part X, line 6 1 2a Tax on investment income for 2006 from Part VI, line 5 b income tax for 2006 ( This does not include the tax from Part VI) c Add lines 2a and 2b Distributable amount before adjustments Subtract line 2c from line 1 3 .. Recoveries of amounts treated as qualifying distributions 4

1
. . 2a 2b 598507 . 2c 3 4

10636767 .

5 9 8 5 0 7.
10038260 . 0

5
6 7

Add lines 3 and 4
Deduction from distributable amount (see instructions) Distributable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII , line 1
Part Xl Qualifying Distributions (see instructions)

5
6 7

10038260.
0 10038260 .

1

Amounts paid ( including administrative expenses ) to accomplish charitable , etc , purposes' a Expenses , contributions , gifts, etc - total from Part I, column (d), line 26 b Program-related investments - total from Part IX-B 2 Amounts paid to acquire assets used ( or held for use ) directly in carrying out charitable, etc., purposes 3 Amounts set aside for specific charitable projects that satisfy the a Suitability test ( prior IRS approval required) .. b Cash distribution test (attach the required schedule) .. Enter here and on Part V, line 8, and Part XIII, line 4 4 Qualifying distributions . Add lines 1 a through 3b for the reduced rate of tax on net investment Foundations that quality under section 4940 ( e) 5 income Enter 1 % of Part I, line 27b 6 Adjusted qualifying distributions . Subtract line 5 from line 4 . Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the 4940(e) reduction of tax in those years.

1a 1b 2 3a 3b 4

10392765.
0

10392765.

598507. 5 9794258. 6 foundation qualifies for the section Form 990-PF (2006)

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Form §90-PF (2006) #^art X111

CARL & RUTH SHAPIRO FAMILY FOUNDATION

04-6135027

Page 9

Undistributed Income (see instructions)
( a) (b) (c) (d)

Corpus
1
2

Years prior to 2005

2005

2006

Distributable amount for 2006 from Part XI, line?
Undistributed Income , If any , as of the end of 2005

10038260.
0.

a Enter amount for 2005 only b Total for prior years

0.
3 Excess distributions carryover , d any , to 2006:

a From 2001 bFrom2002
c From 2003

1514910. 1054439.

d From 2004 e From 2005 f Total of lines 3a through 111 4 Qualifying distributions for 2006 from

2569349.

PartXll ,line4

10392765.
0 0 0 10038260.

a Applied to 2005 , but not more than line 2a b Applied to undistributed income of prior years ( Election required - see instructions) c Treated as distributions out of corpus (Election required - see instructions) d Applied to 2006 distributable amount e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2006 Of an amount appears In column (d), the same amount must be shown in column (a) )

354505
0. 0

6 Enter the net total of each column as Indicated below:
a corpus Add lines 3f, 4c, and 4e subtract line 5 2923854.

h Prior years ' undistributed income Subtract line 4b from line 2b c Enter the amount of prior years' undistributed income for which a notice of deficiency has been issued , or on which

0

the section 4942 ( a) tax has been previously assessed
d Subtract line 6c from line 6b . Taxable

0 0
0

amount - see instructions
e Undistributed income for 2005 Subtract line 4a from line 2a . Taxable amount - see instr f Undistributed income for 2006 Subtract lines 4d and 5 from line 1 This amount must be distributed in 2007 7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170 ( b)(1)(E) or4942 ( g)(3) . 8 Excess distributions carryover from 2001

0

0 .

not applied on line 5 or line 7
9 Excess distributions carryover to 2007.
10 Subtract lines 7 and 8 from line 6a Analysis of line 9.

1514 910 .

1408944 .

a Excess from 2002
b Excess from 2003 c Excess from 2004 d Excess from 2005

1054439.

e Excess from 2006
623581 01-29-07

354505 Form 990-PF (2006)

9
12300507 788779 fnd 2006.05000 CARL & RUTH SHAPIRO FAMILY FND 1

Form b90-PF ( 2006)

CARL & RUTH SHAP

FOUNDATION
instructions and Part VII-A, question 9)

04-6135027 N/A

Page10

1 a If the foundation has received a ruling or determination letter that it is a private operating foundation, and the ruling is effective for 2006, enter the date of the ruling b Check box to indicate whether the foundation is a p rivate o p erati foundation described Tax year 2 a Enter the lesser of the adjusted net (a) 2006 (b) 2005 income from Part I or the minimum investment return from Part X for each year listed b 85% of line 2a c Qualifying distributions from Part XII, line 4 for each year listed d Amounts included in line 2c not used directly for active conduct of exempt activities e Qualifying distributions made directly for active conduct of exempt activities Subtract line 2d from line 2c 3 Complete 3a, b, or c for the alternative test relied upon. a 'Assets' alternative test - enter (1) Value of all assets ..... . (2) Value of assets qualifying under section 4942(I)(3)(B)(i) b 'Endowment' alternative test - enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed c 'Support' alternative test - enter (1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) (2) Support from general public and 5 or more exempt organizations as provided in section 4942(l)(3)(8)(ui) (3) Largest amount of support from an exempt organization

1110. 142(i1(3 ) or 0 4942(i)(5) ( e) Total

Prior 3 years
(c) 2004 (d) 2003

Part X1f
1

Supplementary Information (Complete this part only if the foundation had $5,000 or more in assets at any time during the year-see page 28 of the instructions.)

Information Regarding Foundation Managers: a List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation before the close of any tax year ( but only it they have contributed more than $5 ,000) (See section 507(d)(2) ) b List any managers of the foundation who own 10 % or more of the stock of a corporation ( or an equally large portion of the ownership of a partnership or other entity ) of which the foundation has a 10% or greater interest

See Statement 14

None 2 Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here 01 0 if the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds If the foundation makes gifts , grants, etc. (see instructions) to individuals or organizations under other conditions , complete items 2a , b, c, and d a The name , address , and telephone number of the person to whom applications should be addressed.

b The form in which applications should be submitted and information and materials they should include: c Any submission deadlines d Any restrictions or limitations on awards , such as by geographical areas, charitable fields , kinds of institutions , or other factors

623601 /01-29- 07

Form 990-PF (2006)

12300507

788779 fnd

10 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

Form 990-PF ( 2006 )
3

CARL

& RUTH SHAPIRO FAMILY FOUNDATION

04-6135027

Pagell

Grants and Contributions Paid During the Year or ADoroved for Future Payment If recipient is an individual, Recipient Foundation show any relationship to status of any foundation manager Name and address (home or business ) recipient or substantial contributor a Paid during the year

Purpose of grant or contribution

Amount

SEE ATTACHED STATEMENT 416-

10159785.

Total
b Approved for future payment

^ 3a

10159785.

None

Total 623611m1-29-07

^ 3b I

U .

Form 990-PF (2006)

12300507 788779

fnd

11 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

FormW- PF(2006 ) Park X.f.A

CARL & RUTH SHAPIRO FAMILY FOUNDATION Analysis of Income - Producing Activities
U111M U uusmess muuinv
txcW aec o section D12 01J

04-6135027

Page12

Enter g ross amounts unless otherwise indicated 1 Program service revenue

Or 014

(e)

(a) Business code

(b) Amount

J.c „_ s ee

( d) Amount

Related or exempt function income

a
b

c

d
e
f

g Fees and contracts from government agencies
2 Membership dues and assessments

3 Interest on savings and temporary cash investments
4 Dividends and interest from securities 5 Net rental income or (loss ) from real estate* a Debt-financed property b Not debt-financed property 6 Net rental income or (loss ) from personal property 7 Other investment income

14 14

2123089. 6158625.

8 Gain or ( loss) from sales of assets other than inventory
9 Net income or (loss ) from special events 10 Gross profit or (loss ) from sales of inventory 11 Other revenue. a b

18

51597039.

c
d e 12 Subtotal Add columns ( b), (d), and (e) 13 Total . Add line 12, columns ( b), (d), and (e) (See worksheet in line 13 instructions to verify calculations

0

.

59878753. i
13

0. 5987 875 3 .

Pad XVI,-B

Relationship of Activities to the Accomplishment of Exempt Purposes

623621 01-29-07

Form 990-PF (2006)

12300507

788779 fnd

12 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

04-6135027 CARL & RUTH SHAPIRO FAMILY FOUNDATION Form990-PF ( 2006) Information Regarding Transfers To and Transactions and Relationships With Noncharitable XNII #

Pag e 13

Yes No Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations? a Transfers from the reporting foundation to a nonchantable exempt organization of. X 1a (l ) (1) Cash X 1a 2 . . (2) Other assets b Othertransactions* X . .. lb ( l ) (1) Sales of assets to a noncharitable exempt organization X lb (2 ) (2) Purchases of assets from a nonchantable exempt organization X lb (3 ) (3) Rental of facilities, equipment, or other assets X 1b (4 ) . . (4) Reimbursement arrangements 1b (5 ) X (5) Loans or loan guarantees 1 b( 5) X . . (6) Performance of services or membership or fundraising solicitations 1c X Sharing of facilities, equipment, mailing lists, other assets, or paid employees always show the fair market value of the goods, other assets, If the answer to any of the above is 'Yes,' complete the following schedule Column (b) should or services given by the reporting foundation If the foundation received less than fair market value in any transaction or sharing arrangement, show in

2a Is the foundation directly or indirectly affiliated with , or related to, one or more tax-exempt organizations described in section 501 ( c) of the Code ( other than section 501 (c)(3)) or in section 527') the followin g schedule b If Yes . (b) Type of organization (a) Name of organization

Yes (c) Description of relationship

® No

N/A

Under penalties of p end complete D

ry ec re that I e exa ined this retu parer (o / er than p6yerpy fiduc tton f

mpanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, ncluding ) Is based on all information of w)llch pfeparer has any knowle be

't^or trust

C_f

Preparer ' s .O 'L - E signature
firm Ilse! lo ,

addr= and ZIP c

ti^440 PARK AVEN UE SOUTH NEW YORK, N.Y . 10016

623622 01-29-C

123005

Schedule B
(Form 990 , 990-EZ, or 990-PF) Department of the Treasury Internal Revenue Service

Schedule of Contributors
Supplementary Information for line 1 of Form 990, 990-EZ, and 990-PF (see instructions)

OMB No 1545-0047

2006
I Employer identification number

Name of organization

CARL & RUTH SHAPIRO FAMILY FOUNDATION
Organization type (check one): Filers of: Form 990 or 990-EZ Section: = 501 (c)( ) (enter number) organization

1

04-6135027

4947(a)(1) nonexempt charitable trust not treated as a private foundation 527 political organization Form 990-PF M 501(c)(3) exempt private foundation 0 4947(a)(1) nonexempt charitable trust treated as a private foundation 0 501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule. (Note : Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule-see instructions.) General RuleO For organizations filing Form 990 , 990•EZ , or 990 • PF that received, during the year, $5,000 or more (in money or property ) from any one contributor . (Complete Parts I and II.) Special RulesO For a section 501 (c)(3) organization filing Form 990 , or Form 990•EZ, that met the 33 1 /3% support test of the regulations under sections 509 (a)(1)/170(b)(1)(A)(v), and received from any one contributor, during the year, a contribution of the greater of $5,000 or 2% of the amount on line 1 of these forms . (Complete Parts I and II.) For a section 501 (c)(7), (8), or (10) organization filing Form 990 , or Form 990•EZ, that received from any one contributor, during the year, aggregate contributions or bequests of more than $ 1,000 for use exclusively for religious, charitable , scientific , literary , or educational purposes , or the prevention of cruelty to children or animals. (Complete Parts I , II, and III.) For a section 501 (c)(7), (8), or (10) organization filing Form 990 , or Form 990• EZ, that received from any one contributor, during the year, some contributions for use exclusively for religious, charitable , etc., purposes , but these contributions did not aggregate to more than $1,000 . ( If this box is checked , enter here the total contributions that were received during the year for an exclusively religious, charitable , etc., purpose . Do not complete any of the Parts unless the General Rule applies to this organization because it received nonexclusively religious , charitable , etc., contributions of $5,000 or more during the year.) ^ $ Caution : Organizations that are not covered by the General Rule and/or the Special Rules do not file Schedule B (Form 990, 990-EZ, or 990-PF), but they must check the box in the heading of their Form 990, Form 990-EZ, or on line 2 of their Form 990-PF, to certify that they do not meet the filing requirements of Schedule B (Form 990, 990-EZ, or 990-PF). LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990, Form 990-EZ, and Form 990-PF. Schedule 8 (Form 990 , 990-EZ , or 990-PF) (2006)

623451 01-18-07

12300507

788779 fnd

14 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

Schedule B (Form 990, 99 Name of organization

1 of

2 of Part I

Employer identification number

CARL & RUTH SHAPIRO FAMILY FOUNDATION
Pad I (a) No. Contributors (See Specific Instructions.) (b) Name , address , and ZIP + 4

04-6135027

(c) Aggregate contributions

(d) Type of contribution

1

SHAPIRO FAMILY FIFTEEN YEAR CHARITABLE LEAD TRUST C/O ONE WASHINGTON STREET,
WELLESLEY, MA 02481
(b) Name, address , and ZIP + 4 (c) Aggregate contributions

Person $ 3104073.
Payroll Noncash

OX

STE.

202

(Complete Part II if there Is a noncash contribution.) (d) Type of contribution

(a) No.

2

SHAPIRO FAMILY FIVE YEAR CHARITABLE LEAD TRUST C/O ONE WASHINGTON STREET,
WELLESLEY, MA 02481
(b) Name , address, and ZIP + 4 (c) Aggregate contributions

Person $ 6700998.
Payroll Noncash

FT

STE.

202

(Complete Part II if there is a noncash contribution.) (d) Type of contribution

(a) No.

3

SHAPIRO FAMILY TEN YEAR CHARITABLE LEAD STRUST C/O ONE WASHINGTON STREET, WELLESLEY, STE. 202 $ 4272328.

Person
Payroll Noncash

OX
fl

MA 02481
(b) Name , address , and ZIP + 4 (c) Aggregate contributions

(Complete Part II if there is a noncash contribution.) (d) Type of contribution

(a) No.

4

CARL SHAPIRO 2 NORTH BREAKERS ROW #45 PALM BEACH, FL 3 3 4 8 0
(b) Name, address , and ZIP + 4 (c) Aggregate contributions

Person $ 1950000.
Payroll Noncash 0

(Complete Part II if there is a noncash contribution.) (d) Type of contribution

(a) No.

5

RUTH SHAPIRO 2 NORTH BREAKERS ROW #45 PALM BEACH, FL 33480
(b) Name , address, and ZIP + 4 (c) Aggregate contributions

Person $ 2596000.
Payroll Noncash Q ^X

(Complete Part II if there is a noncash contribution.) (d) Type of contribution

(a) No.

6

CARL SHAPIRO 2 NORTH BREAKERS ROW #45 PALM BEACH, FL 3 3 4 8 0 $ 10000000.

Person
Payroll Noncash

0

(Complete Part II if there is a noncash contribution
Schedule B (Form 990 . 990-EZ . or 990 - PF) (20061

;7g4-;

ni_IR_ m

12300507

788779 fnd

15 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

Schedile B (Form 990, 990-EZ. or 990-PF) (2006) Name of organization

Pape

2 of

2 of Part I

Employer Identification number

CARL & RUTH SHAPIRO FAMILY FOUNDATION
Part t (a) No. Contributors (See Specific Instructions.) (b) Name , address , and ZIP + 4

04-6135027

(c) Aggregate contributions

(d) Type of contribution

7

RUTH SHAPIRO 2 NORTH BREAKERS ROW #45 PALM BEACH, FL 3 3 4 8 0
(b) Name , address , and ZIP + 4 (c) Aggregate contributions

Person $ 10000000.
Payroll Noncash

OX
Q 0

(Complete Part II if there is a noncash contribution.) (d) Type of contribution Person Payroll Noncash El Q 0

(a) No.

$

(Complete Part II if there is a noncash contribution.) (a) No. (b) Name , address , and ZIP + 4 (c) Aggregate contributions

(CO Type of contribution Person Payroll Noncash El 0 Q

$

(Complete Part li if there is a noncash contribution.) (a) No. (b) Name, address , and ZIP + 4 (c) Aggregate contributions (d) Type of contribution Person Payroll Noncash 0 0 Q

$

(Complete Part II if there is a noncash contribution.) (c) Aggregate contributions

(a) No.

(b) Name , address , and ZIP + 4

(CO Type of contribution Person Payroll Noncash El El Q

$

(Complete Part II if there is a noncash contribution.) (c) Aggregate contributions (d) Type of contribution Person Payroll Noncash El Q El

(a) No.

(b) Name , address , and ZIP + 4

$

(Complete Part II if there is a noncash contribution.; 623452 WAR-07 Schedule B (Form 990 . 990-EZ . or 990 - PF) (2006)

12300507 788779 fnd

16 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

Schedule B (Form 990, 990-EZ or Name of organization

1 of

1 of Part ll

Employer identification number

CARL & RUTH SHAPIRO FAMILY FOUNDATION Pad It
(a) No. from Part I

04-6135027

Noncash Property (See Specific Instructions.)
(c) (b) Description of noncash property given FMV (or estimate) (see instructions) (CQ Date received

60,000 SHS COACH,

INC.

4 $
(a) No. from Part I

1950000.

09/12/06

Description of noncash property given

(c) FMV (or estimate) (see instructions)

Date received

40,000 SHS REYNOLDS AMERICA 5

$
(a) No. from Part I

2596000.
(c) FMV (or estimate) (see instructions)

09/12/06

Description of noncash property given

Date received

(a) No. from Part I

(c) (b) Description of noncash property given FMV (or estimate) (see instructions) (d) Date received

(a) No. from Part I

(c)
(b) Description of noncash property given FMV (or estimate) (see instructions) (d) Date received

(a) No. from Part I

(c)
Description of noncash property given FMV (or estimate) (see instructions) Date received

623453 01_1 -o7

Schedule B (Form 990.990-EZ . or 990-PFI (20061

12300507 788779

fnd

17 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

CARL &.RUTH SHAPIRO FAMILY FOUNDATION IPatt IV I Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold, e g , real estate , 2-story brick warehouse , or common stock , 200 shs MLC Co.

Continuation 04-6135027

for 990-PF, 1 Pa g e

Part of

IV 3

( b How acquired (c) Date acquired nation - Pu rchase (mo , day , yr ) D - D onation

( d) Date sold (mo , day, yr )

la 20 325,000 US TSY BILL DUE 8/2406
b c d e f US T-BILL INTEREST INCL. IN BROKER'S GROSS PROCEE 60,000 SHS COACH , INC 40,000 SHS REYNOLDS AMERICAN , INC 56,000 SHS LIZ CLAIBORNE , INC. 50 000 SHS LIZ CLAIBORNE, INC.

P
P D D P P

04/28/06 08/24/06
04/28/06 08/24/06 09/12/06 09/12/06 09/12/06 09/12/06 06/05/95 01/09/06 06/05/95 01/10/06

g 6,000 SHS EMULUX CORP. h 59,200 SHS PROCTOR & GAMBLE i35,000 SHS GOOGLE
40,000 SHS GOOGLE

P P P
P

11/29/04 01/12/06 05/19/88 01/19/06 03/30/05 01/23/06
03/30/05 01/23/06

k44 , 000 SHS PEPSICO 1167,000 SHS TRANSOCEAN SEDCO
m92 , 000 SHS ANALOG DEVICES n 95,000 SHS DIAMOND OFFSHORE DRILLING o 157 , 000 SHS BURLINGTON NORTHERN
(e) Gross sales price ( Q Depreciation allowed (or allowable ) ( g) Cost or other basis plus expense of sale

P P
P P P

08/29/95 01/24/06 01/23/06 02/03/06
01/23/06 02/06/06 01/23/06 02/07/06 01/23/06 02/14/06
( h) Gain or (loss) (e) plus (f) minus (g)

a b c d e f h k 1 m n o

19984150. 340850. 1984200. 2600000. 2003120. 1799000. 130140. 3473856.
14808850.

19984150. 340850. 332850. 558000. 504000. 450000. 83460. 260643.
6312950.

0. 0. 1651350. 2042000. 1499120. 1349000. 46680. 3213213.
8495900.

16924400. 2560800. 13711240. 3717000. 7835700. 12664090.
(I) F M V as of 12/31/69 (j) Adjusted basis as of 12/31/69

7204800. 914827. 13004410. 3470980. 7571500. 11152840.
( k) Excess of col (i) over col. (1), rf any

9719600. 1645973. 706830. 246020. 264200. 1511250.
(I) Losses (from col (h)) Gains (excess of col (h) gain over col. (k), but not less than'-0- )

Complete only for assets showing gain in column ( h) and owned by the foundation on 12/31 /69

a b

0. 0.

c d e f h

k 1 m n 0
2 Capital gain net income or ( net capital loss ) ! If am, also enter in Part I, line 7 1 i If ?loss) , enter'-0- in Part I , line 7 1 2

1651350. 2042000. 1499120. 1349000. 46680. 3213213. 8495900. 9719600. 1645973. 706830. 246020. 264200. 1511250.

3 Net short-term capital gain or ( loss) as defined in sections 1222(5) and (6)• If gain , also enter in Part I, line 8 , column (c) If (loss ), enter '-0- in Part I, line 8
623591 05-01-06

3

18
12300507 788779 fnd 2006.05000 CARL & RUTH SHAPIRO FAMILY FND

CARL &.RUTH SHAPIRO FAMILY FOUNDATION P It I Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind (s) of property sold, e g , real estate, 2-story buck warehouse ; or common stock , 200 shs MLC Co

Continuation 04-6135027

for 990-PF, 2 Pa g e

Part of

IV 3

(b How acquired ( c) Date acquired (mo , day, yr ) D - Don tion

( d) Date sold (mo, day, yr )

1a 63,000 SHS CATERPILLAR TRACTOR

P

01/13/06 02/17/06

b 21 275,000 US T-BILL DUE 4/27/06
c 775,000 US T-BILL DUE 7/13/06

P
P

12/08/05 03/02/06
01/26/06 05/10/06

d 150,000 US T-BILL DUE 7/13/06
e 625,000 US T-BILL DUE 7/13/06 f 750,000 US T-BILL DUE 9/1406

P
P P

01/26/06 06/07/06
01/26/06 06/07/06 04/27/06 08/16/06

h k 1 m n o a b
c

1 , 525 , 000 US B-BILL DUE 12/21/06 39,225 000 US T-BILL DUE 1/4/07 1,400,000 US T-BILL DUE 2/8/07 26,500,000 US T-BILL DUE 2/8/07 80 000 SHS NORFOLD SO. CORP. 50,000 SHS NV IDIA CO RP. 85,0 00 SHS NVID IA CORP. 90 , 000 SHS OFFICE MAX 750 , 000 US T-BILL DUE 12/14/06
(e) Gross sales puce (f) Depreciation allowed (or allowable ) ( g) Cost or other basis plus expense of sale

P P P P P P P P P 3919860. 20942472.
759267.

07/27/06 09/07/06 08/03/06 10/02/06 09/14/06 10/02/06 09/14/06 10/02/06 09/29/06 11/09/06 09/28/06 11/09/06 09/28/06 11/09/06 09/27/06 11/09/06 07/13/06 11/10/06
( h) Gain or (loss) (e) plus (f) minus (g)

4540410. 20929537.
758797.

620550. -12935.
-470.

d e f h k 1 m n o

146908. 612119. 735502. 1494672. 38413705. 1372463. 25978761. 4216000. 1800500. 3056650. 4472100. 733822.
(I) F M V as of 12/31/69 (1) Adjusted basis as of 12/31/69

146955. 612312. 736208. 1494058. 38391077. 1372224. 25974240. 3444000. 1449000. 2464650. 3585900. 733830.
(k) Excess of col (i) over col (j), if any

-47. -193. -706. 614. 22628. 239. 4521. 772000. 351500. 592000. 886200. -8.
(I) Losses (from col (h)) Gains (excess of col (h) gain over col (k), but not less than'-0')

Complete only for assets showing gain in column ( h) and owned by the foundation on 12/31/69

a b C d e f h

620550. -12935. -470. -47. -193. -706. 614. 22628. 239. 4521.
772000.

k

1 m n
o
2 Capital gain net income or (net capital loss ) ' If goe s) lso enter in PaPart Irt, l i ne 7 a I , line 7 ^ If ( loss , enter'-0= in 2

351500. 592000. 886200.
-8-

3 Net short-term capital gain or ( loss) as defined in sections 1222(5) and (6) If gain, also enter in Part I, line 8, column (c) If (loss), enter '-0= in Part I, line 8
623591 05-01-06

3

19
12300507 788779 fnd 2006.05000 CARL & RUTH SHAPIRO FAMILY FND

CARL & RUTH SHAPIRO FAMILY FOUNDATION # IV Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind ( s) of property sold, e g , real estate , 2-story buck warehouse ; or common stock , 200 shs MLC Co.

Continuation 04-6135027

for 990-PF, Part Pa g e 3 of

IV 3

( b How acquired ( c) Date acquired Purchase ( mo , day , yr ) D - Donation

( d) Date sold (mo , day, yr.)

1a 85 000 SHS NUCOR CORP. 155,000 SHS AMR CORP. b_

c 80,000 SHS ALLEGHENY TECH.
d 170 , 000 SHS AMAZON.COM, e 135,000 SHS COACH, INC. f160 , 000 SHS EBAY , INC. INC.

P P P
P P P

09/28/06 11/10/06 09/28/06 11/ 21/06 09/28/06 11/22 /06
09/28/06 11/2 7/06 09/28/06 11/27/06 09/27/06 11/27/06

40,000 SHS GOLDMAN SACHS h12 , 000 SHS GOOGLE 1 130 , 000 SHS MASSEY ENERGY
92,000 SHS PEABODY ENERGY

P P P
P

09/28/06 11/27/06 09/28/06 11/27/06 10/04/06 11/27/06
09/28/06 11/27/06

k 30 000 SHS RESEARCH IN MOTION 175 , 000 SHS US STEEL CORP. m50,000 SHS YUM BRANDS
n41 , 000 SHS PEABODY ENERGY
0
(e) Gross sales puce ( f) Depreciation allowed (or allowable ) ( g) Cost or other basis plus expense of sale

P P P
P

09/28/06 11/27/06 10/03/06 11/27/06 09/28/06 11/27/06
09/28/06 11/27/06
( h) Gain or (loss) (e) plus (f) minus (g)

a b c d e f h k m n
0

5146750. 5165650. 6656800. 7220280. 5690360. 5317460.
8076000.

4109550. 3617550. 4908800. 5373900. 4618200. 4287800.
6760400.

1037200. 1548100. 1748000. 1846380. 1072160. 1029660.
1315600.

5994480. 3328200. 3912960. 4224000. 5568000. 3144000. 1742910.

4825440. 2540700. 3327360. 2557500. 4181250. 2626000. 1483390.

1169040. 787500. 585600. 1666500. 1386750. 518000. 259520.
(I) Losses (from col (h)) Gains (excess ( h) g a in0over col (k), but not less than

Complete only for assets showing gain in column ( h) and owned by the foundation on 12/31/69 (I) F M V as of 12/31/69 (1) Adjusted basis as of 12 /31/69 ( k) Excess of col (i) over col (I), if any

a b C d e f h k m n
0
2 Capital gain net income or ( net capital loss)) ain, also enter in Part I, line 7 If ?loss ) , enter'-0- in Part I , line 7 2

1037200. 1548100. 1748000. 1846380. 1072160. 1029660. 1315600. 1169040.
787500.

585600. 1666500. 1386750. 518000. 259520.

51597039.

3 Net short-term capital gain or ( loss) as defined in sections 1222 ( 5) and (6): If gain, also enter in Part I, line 8 , column (c). If (loss), enter '-0- in Part I, line 8
623591 05-01-06

3

N/A

20
12300507 788779 fnd 2006.05000 CARL & RUTH SHAPIRO FAMILY FND

2006 DEPRECIATION AND AMORTIZATION REPORT

Form 990-PF Page 1
As et No Date Acquired Une . N Unadjusted Cost Or Basis Bus % Excl Reduction In Basis

990-PF
Basis For Depreciation Accumulated Depreciation Current Sec 179 Current Year Deduction

Description

Method

Life

I FURNITURE AND FIXTURES 12 15 02 00D
FFICE EQUIP

.00 17 5
00 17

8228.
12 90 .

8228.
12 90 .

0.
0 M

ME NT

11 18

2

00t

3 FURNITURE AND FIXTURES 12 15 02 00D

.00

17

13944.

13944.

0.

4 FURNITURE AND FIXTURES 1-2 15 2 00f 5 FFICE RENOVATION
6 OFFICE EQUIPMENT

..00 17 .00 17 ..00 17 .00 17 .00 17
.00 17

4882. 31637. 6036. 9000. 74454
7464.

1841. 31637. 6036. 9000. 7445.
7464.

3041.

2417.

333. 0. 0. 0. 0.
0.

01 12 03 00D 1 14 3 OG

7 FURNITURE AND FIXTURES 04 17 03 00D 8 SI RE AND FIXTURE 2 4 00

9 FURNITURE AND FIXTURES 08 04 03 00D

10FURNITURE AND FIXTURES 6 18 4 001 11 EQUIPMENT 12 11 06 00D

.00 17 .00 19

5680. 430. 96036.

5680. 430. 92565. 34 7 1. 2417 . 04

0. 22. 355.

Total 930-Pt' Pg I
eipr

628102 07-28- 06

(D) - Asset disposed

• ITC, Section 179, Salvage , Bonus , Commercial Revitalization Deduction , GO Zone

21

CARS, & RUTH SHAPIRO FAMILY FOUNDATION

04-6135027

Form 990-PF

Interest on Savings and Temporary Cash Investments

Statement

1

Source BANK - INTEREST ON SAVINGS BANK - TEMPORARY CASH INVESTMENT BROKER - TEMPORARY CASH INVESTMENT

Amount 25506. 2096473. 1110. 2123089.

Total to Form 990-PF, Part I, line 3, Column A

Form 990-PF

Dividends and Interest from Securities

Statement

2

Source BANK BROKER BROKER BROKER BROKER GOVT BONDS & T-BILLS - CORP DIVIDENDS - GOVT BONDS & T-BILLS - GOVT BONDS & T-BILLS - GOVT BONDS & T-BILLS

Gross Amount 681500. 264521. 340850. 256500. 4615254.

Capital Gains Dividends 0. 0. 0. 0. 0.

Column (A) Amount 681500. 264521. 340850. 256500. 4615254.

Total to Fm 990-PF, Part I,

In 4

6158625.

0.

6158625.

Form 990-PF

Legal Fees

Statement

3

(a) Expenses
Description LEGAL FEES Per Books

(b) Net Investment Income

(c) Adjusted
Net Income

(d) Charitable
Purposes

34089. 34089.

17044. 17044.

17045. 17045.

To Fm 990-PF, Pg 1, In 16a

12300507

788779

fnd

Statement(s) 1, 22 2006.05000 CARL & RUTH SHAPIRO FAMILY FND

2, 1

3

CAIL & RUTH SHAPIRO FAMILY FOUNDATION

04-6135027

Form 990-PF

Accounting Fees

Statement

4

(a) Expenses
Description Per Books

(b) Net Investment Income

(c) Adjusted
Net Income

(d) Charitable
Purposes

ACCOUNTING FEES To Form 990-PF, Pg 1, In 16b

11000. 11000.

11000. 11000.

0. 0.

Form 990-PF

Other Professional Fees

Statement

5

(a) Expenses
Description PROFESSIONAL CONSULTANTS WEBSITE DEVELOPMENT Per Books 6491. 10380.

(b) Net Investment Income 0. 0.

(c) Adjusted
Net Income

(d) Charitable
Purposes 6491. 10380.

To Form 990-PF, Pg 1,

In 16c

16871.

0.

16871.

Form 990-PF

Taxes

Statement

6

(a)
Description ANNUAL FRANCHISE TAX PAYROLL TAXES FEDERAL INCOME TAX STATE UNEMPLOYMENT TAXES Expenses Per Books 25. 8969. 647879. 2278.

(b)
Net Investment Income 0. 0. 0. 0.

(c)
Adjusted Net Income

(d)
Charitable Purposes 0. 8969. 0. 2278.

To Form 990-PF, Pg 1,

In 18

659151.

0.

11247.

12300507 788779 fnd

23 Statement(s) 4, 5, 6 2006.05000 CARL & RUTH SHAPIRO FAMILY FND 1

CARL & RUTH SHAPIRO FAMILY FOUNDATION

04-6135027 Statement (c) Adjusted
Net Income

Form 990-PF

Other Expenses

7

Description
ANNUAL FEES TELEPHONE/INTERNET BUSINESS INSURANCE MISCELLANEOUS EXPENSES COMPUTER SOFTWARE CHARGES OFFICE SUPPLIES CORPORATE SERVICES PAYROLL SERVICE FEE POSTAGE/SHIPPING WORKERS' COMP. INSURANCE SUBSCRIPTIONS

(a) Expenses Per Books

(b) Net Investment Income

(d) Charitable

Purposes
0. 1829. 2414. 3002. 1512. 2585.

500. 1829. 2414. 2562. 1512. 2585. 309. 1728. 729. 379. 230. 14777.

0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0.

309. 1728. 729. 379. 230. 14717.

To Form 990-PF, Pg 1,

In 23

Form 990-PF

U.S. and State/City Government Obligations
U.S. Gov't X X Other Gov't

Statement

8

Description
US TREASURY BILLS FEDERAL HOME LOAN BANK NOTES Total U.S. Government Obligations

Book Value 163831009. 39523080. 203354089.

Fair Market Value

165180987. 39312599. 204493586.

Total State and Municipal Government Obligations Total to Form 990-PF, Part II, line 10a 203354089. 204493586.

Form 990-PF

Corporate Stock

Statement

9

Description
COMMON & PREFERRED STOCKS

Book Value 0. line 10b 0.

Fair Market Value

0. 0.

Total to Form 990-PF, Part II,

12300507 788779 fnd

Statement (s) 7, 24 2006.05000 CARL & RUTH SHAPIRO FAMILY FND

8, 1

9

CARS, & RUTH SHAPIRO FAMILY FOUNDATION

04-6135027

Form 990-PF

Depreciation of Assets Not Held for Investment Cost or Accumulated
Depreciation 8228. 1290. 13944. 4591. 31637. 6036. 9000. 7445. 7464. 5680. 22.

Statement

10

Description FURNITURE AND FIXTURES OFFICE EQUIPMENT FURNITURE AND FIXTURES FURNITURE AND FIXTURES OFFICE RENOVATION OFFICE EQUIPMENT FURNITURE AND FIXTURES FURNITURE AND FIXTURES FURNITURE AND FIXTURES FURNITURE AND FIXTURES EQUIPMENT

Other Basis 8228. 1290. 13944. 4882. 31637. 6036. 9000. 7445. 7464. 5680. 430.

Book Value 0. 0. 0. 291. 0. 0. 0. 0. 0. 0. 408.

Total To Fm 990-PF, Part II,

In 14

96036.

95337.

699.

Form 990-PF

Other Assets

Statement

11

Fair Market

Description
CONSTRUCTION IN PROGRESS ACCRUED INTEREST PAID ON BOND ACQUISITION

Book Value
25000. 55800.

Value
25000. 55800.

Total to Form 990-PF,

Part II, line 15

80800.

80800.

Form 990-PF Description
PAYROLL TAXES - WITHHELD Total to Form 990-PF, Part II,

Other Liabilities

Statement

12

Amount

0.
line 22, Column B

0.

12300507 788779 fnd

25 Statement(s) 10, 11, 2006.05000 CARL & RUTH SHAPIRO FAMILY FND

12 1

CARL & RUTH SHAPIRO FAMILY FOUNDATION

04-6135027 Statement

Form 990-PF

Part VIII - List of Officers, Directors Trustees and Foundation Managers

13

Name and Address
CARL SHAPIRO 2 N. BREAKERS ROW PALM BEACH, FL 33480 RUTH SHAPIRO 2 N. BREAKERS ROW PALM BEACH, FL 33480 RHONDA ZINNER c/o 399 BOYLSTON STREET BOSTON, MA 02116 ELLEN JAFFE c/o 399 BOYLSTON STREET BOSTON, MA 02116 LINDA WAINTRUP c/o 399 BOYLSTON STREET BOSTON, MA 02116 JEAN S. WHITNEY 112 WOODRIDGE ROAD WAYLAND, MA 01778

Title and Avrg Hrs/Wk CHAIRMAN

Compensation

Employee Ben Plan Expense Contrib Account

20.00

0.

0.

0.

SECRETARY & TREAS.

& TRSTE

4.00

0.

0.

0.

PRESIDENT 20.00

0.

0.

0.

TRUSTEE 4.00

0.

0.

0.

TRUSTEE 4.00

0.

0.

0.

PROGRAM DIRECTOR 32.00

75248.

10855.

0.

Totals included on 990-PF, Page 6, Part VIII

75248.

10855.

0.

Form 990-PF

Part XV - Line la List of Foundation Managers

Statement

14

Name of Manager CARL SHAPIRO RUTH SHAPIRO

12300507 788779 fnd

Statement(s) 13, 26 2006.05000 CARL & RUTH SHAPIRO FAMILY FND

14 1


. FArnwY FoKN-bR11OrJ R^^cH SNPP1^Ro
Status Relationshi p Prog ram Area

04- 613soa1
S1ATt-^^
- of Grant Purpose

ISM PA4E
Amount

Reci lent Name

AccesSport America American Cancer Society Amer. Friends of the Israel Phil. Orchest ra American Friends of Livnot U' lehibanot American Friends of the Israel Museum Amer. Friends of Weizmann Inst. of Sci . American Heart Association American Jewish Committee American Society for the Technion Anti-Defamation League ARMDI Artists for Humanity Associated Grant Makers Associated Grant Makers Association of Small Foundations Autism Speaks BalletRox Belmont Hill School Beth Israel Deaconess Medical Center Beth Israel Deaconess Medical Center BOSTnet Boston Ballet Boston Center for Independent Living Boston Chinatown Neighborhood Ctr The Boston Foundation

Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity

None None None None None None None None None None None None None None None None None None None None None None None None None

Human Services Health Jewish Interests Jewish Interests Jewish Interests Jewish Interests Health Jewish Interests Jewish Interests Jewish Interests Jewish Interests Arts & Culture Other Other Other Health Arts & Culture Education Health Health Human Services Arts & Culture Human Services Human Services Human Services

Project Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Project Support Membership Project Support Membership Operating Support Project Support Operating Support Capital Operating Support Project Support Operating Support Project Support Project Support Project Support

$40,000 $25,000 $5,000 $1,000 $20,000 $10,000 $10,000 $20,000 $25,000 $100,000 $25,000 $25,000 $7,800 $20,000 $450 $50,000 $18,000 $2,500 $700,000 $31,000 $40,000 $40,000 $20,000 $25,000 $10,000

Oy- b13SoJ.-I
CfMML R iii CRAP1R,O F Am%Lt RKn+bAmOO Status Relationshi Program Area S?P1tjvENT -#If) P,4 6E 3, Pur p ose of Grant Amount

Reci p ient Name

Boston Medical Center Boston Symphony Orchestra Boys and Girls Clubs of Boston Brain Tumor Society Brandeis University Brandeis University Brandeis University Breast Cancer Research Foundation Brigham & Women 's Hospital Brigham & Women's Hospital Brigham & Women 's Hospital Brimmer & May School The Carroll Center for the Blind The Center for Teen Empowerment Chapel Hill Chauncy Hall School Children 's Hospital CityStage Co. Clarke School for the Deaf Col. Daniel Marr Boys and Girls Club Combined Jewish Philanthropies Community Art Center Community Music Center Community Rowing Cystic Fibrosis Foundation D.E.A.F . Inc.

Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity

None None None None None None None None None None None None None None None None None None None None None None None None None

Health Arts & Culture Human Services Health Education Education Education Health Health Health Health Education Education Human Services Education Health Arts & Culture Human Services Human Services Jewish Interests Arts & Culture Arts & Culture Human Services Health Human Services

Project Support Operating Support Project Support Project Support Project Support Capital Capital Operating Support Capital Capital Project Support Operating Support Project Support Project Support Operating Support Capital Project Support Project Support Operating Support Operating Support Project Support Project Support Project Support Operating Support Project Support

$25,000 $45,000 $15,000 $10,000 $51,500 $2,500,000 $350,000 $11,500 $1,600,000 $300,000 $574,000 $51,000 $25,000 $25,000 $5,000 $250,000 $10,000 $15,000 $500 $317,600 $15,000 $20,000 $25,000 $10,000 $40,000

' •
1QL & P, 11A SNAPIQo Farwt.Y FWA.00ATton1 Status Relationshi Program Area

dy-6t3so17 S7A7V-MEHT
Purp ose of Grant

I6- ,PnGE3
Amount

Reci lent Name

Dana Farber Cancer Institute Facing History and Ourselves Fed. Dorchester Neighborhood Houses The Food Project Friends of the Boston Public Garden Friends of the William E. Carter School Gift of Life Bone Marrow Foundation Grantmakers in the Arts Hadassah Handel and Haydn Society Harvard Graduate School of Education Hebrew Senior Life Hospice Foundation of PB County Huntington Theater Company Huntington Theater Company Hyde Square Task Force Inquilinos Boricuas en Action Institute of Contemporary Art Interfaithfamily .com Jewish Big Brother & Big Sister Assoc . Jewish Comm. Ctrs of Greater Boston Jewish Family and Children ' s Services Jewish Federation of PB County Jewish Guild for the Blind

Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity

None None None None None None None None None None None None None None None None None None None None None None None None

Health Education Arts & Culture Human Services Other Education Health Arts & Culture Jewish Interests Arts & Culture Education Jewish Interests Health Arts & Culture Arts & Culture Arts & Culture Arts & Culture Arts & Culture Jewish Interests Jewish Interests Jewish Interests Jewish Interests Jewish Interests Jewish Interests

Operating Support Operating Support Project Support Project Support Operating Support Project Support Operating Support Operating Support Project Support Operating Support Operating Support Project Support Project Support Project Support Capital Project Support Project Support Project Support Operating Support Project Support Project Support Operating Support Operating Support Project Support

$125,000 $25,000 $10,000 $35,000 $2,500 $35,000 $35,000 $5,000 $10,000 $2,500 $2,500 $42,200 $25,000 $43,000 $25,000 $12,500 $15,000 $15,000 $2,500 $20,000 $30,000 $30,000 $113,500 $5,000


FAr+LL'/ F • C.AkL. I Rum SAp pltin
Reci lent Name

o4-LI3So^7
DA'T1b0
Status Relationshi Pro g ram Area

ST) TFMENT4/S PAG£ q
Pur p ose of Grant Amount

Jewish Home for the Aged Jewish Home for the Aged Jewish Theology Seminary Jewish Vocational Services JFK Center for the Performing Arts Joslin Clinic Judge Baker Children 's Center Kid's Wish Network Kravis Center for Performing Arts Kravis Center for Performin g Arts Lafayette College Leukemia and Lymphoma Society Lymphoma Research Foundation Lynne Cohen Fdn for Ovarian Cancer MAB Community Services MassINC Mujeres Unidas en Accion Muscular Dystrophy Association Museum of Fine Arts Nat. Center for Family Philanthropy Nat. Council on Spinal Cord Injury New England Eye Institute Norton Museum of Art Norton Museum of Art NYU Hospitals Center

Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity

None None None None None None None None None None None None None None None None None None None None None None None None None

Jewish Interests Jewish Interests Jewish Interests Jewish Interests Arts & Culture Health Human Services Human Services Arts & Culture Arts & Culture Education Health Health Health Human Services Other Human Services Health Arts & Culture Other Health Health Arts & Culture Arts & Culture Health

Capital Project Support Operating Support Project Support Operating Support Project Support Operating Support Operating Support Capital Operating Support Operating Support Operating Support Operating Support Operating Support Project Support Operating Support Project Support Operating Support Project Support Membership Operating Support Project Support Capital Operating Support Project Support

$200,000 $10,000 $3,600 $25,000 $25,000 $50,000 $5,000 $35 $300,000 $30,000 $1,500 $22,500 $100,000 $1,500 $25,000 $5,000 $25,000 $10,000 $60,000 $1,000 $5,000 $35,000 $100,000 $105,000 $19,500

O^{^ 61350 1 ^R^& R^,^^yp $^AP1Rso ^AtrALy Fo-NppTlbt-) S714l ) ENT * 15 , PAGE S Relationshi Program Area Pur p ose of Grant Amount

Reci p ient Name

Status

ODWIN Learning Center One Family , Inc. Outdoor Explorations PB Community Chest United Way Palm Beach Country Club Foundation PB County Assoc . for Retarded Citizens Palm Healthcare Foundation Park School Partners For Youth With Disabilities Piers Park Sailing Planned Parenthood Preservation Society Project Hope Project STEP Rehab Center for Children & Adults Richard David Kann Melanoma Fdn The Rivers School Ronald McDonald House Charities Sarah Lawrence College Simon Wiesenthal Center Sippican Land Trust Social Change Innovators Society of Four Arts Spaulding Rehabilitation Hospital Temple Israel

Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity

None None None None None None None None None None None None None None None None None None None None None None None None None

Education Human Services Human Services Human Services Arts & Culture Human Services Health Education Human Services Human Services Health Arts & Culture Human Services Arts & Culture Human Services Health Education Human Services Education Jewish Interests Other Human Services Arts & Culture Health Jewish Interests

Project Support Project Support Project Support Operating Support Operating Support Project Support Operating Support Operating Support Project Support Project Support Operating Support Operating Support Project Support Project Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support Operating Support

$25,000 $35,000 $20,000 $107,000 $4,000 $20,000 $5,000 $42,500 $25,000 $25,000 $30,000 $10,000 $30,000 $12,500 $10,000 $10,000 $3,000 $500 $5,000 $10,000 $20,000 $5,000 $2,500 $2,500 $3,600


{LL Reci lent Name W SMAPIM FAMI-y r-0"bAT1cN Status Relationshi p Pro g ram Area

o9 - 6 13S-,D),-7
ST^Tn1ENT Pur p ose of Grant -if P19GE Amount

Tenacity TERC Thompson Island Outward Bound Trinity College United South End Settlements US Holocaust Memorial Museum United Way of MA Bay University of Pennsylvania Urban Improv Vinfen Corporation VSA Arts of MA Wang Center Wellesley College Winsor School Women 's Lunch Place Zumix Total N umber of Organizations

Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity Public Charity

None None None None None None None None None None None None None None None None

Human Services Human Services Human Services Education Arts & Culture Jewish Interests Human Services Education Arts & Culture Human Services Human Services Arts & Culture Education Education Human Services Arts & Culture

Project Support Project Support Project Support Operating Support Project Support Project Support Project Support Operating Support Project Support Project Support Project Support Project Support Operating Support Operating Support Operating Support Project Support

$35,000 $30,000 $25,000 $25,000 $22,500 $25,000 $10,000 $2,500 $10,000 $25,000 $25,000 $32,000 $5,000 $5,000 $2,000 $25,000 $10 ,159,785 130

Form'm0
Department of the Treasury Internal Revenue Service

Underpayment of Estimated Tax by Corporations
^ See separate Instructions. 10, Attach to the corporation's tax return . Form 9 9 0 -PF

OMB No 1545-0142

2006

Name CARL & RUTH SHAPIRO FAMILY FOUNDATION

Employer identification number 04-6135027

Note: Generally, the corporation is not required to file Form 2220 (see Part II below for exceptions) because the IRS will figure any penalty owed and bill the corporation However, the corporation may still use Form 2220 to figure the penalty If so, enter the amount from page 2, line 34 on the estimated tax penalty line of the corporation's income tax return, but do not attach Form 2220

Part !
1

Required Annual Payment
1 2a 2b 598507.

Total tax (see instructions)

2 a Personal holding company tax (Schedule PH (Form 1120), line 26) included on line 1 b Look-back interest included on line 1 under section 460(b)(2) for completed long-term contracts or of section 167(g) for depreciation under the income forecast method

2c . . c Credit for Federal tax paid on fuels (see instructions) d Total . Add lines 2a through 2c 3 Subtract line 2d from line 1 If the result is less than $500, do not complete or file this form. The corporation

2d

does not owe the penalty 4 Enter the tax shown on the corporation's 2005 income tax return (see instructions) Caution : If the tax Is zero
or the tax year was for less than 12 months , skip this line and enter the amount from line 3 on line 5 5

..

3
4

598507.

Required annual payment . Enter the smaller of line 3 or line 4. If the corporation is required to skip line 4, 5 enter the amount from line 3 boxes below that apply. If any boxes are checked, the corporation must file Form 2220 Reasons for Filing - Check the Part 11 even if it does not owe a penalty (see instructions). The corporation is using the adjusted seasonal installment method The corporation is using the annualized income installment method
0 The co rp oration is a 'larcorp oration' fi g urin g 104xr* 111 Vin,,rinn t hn I Inrlnrn 1umont first re q uired installment based on the p rior year's tax

r,98507

6 7
8

(a)
9 Installment due dates . Enter in columns (a) through (d) the 15th day of the 4th ( Form 990 - PF fliers: Use 5th month ), 9th , and 12th months of the corporation ' s tax ytea Required Installments . If the box on line 6 and /or line 7 above is checked , enter the amounts from Sch A , line 38 If the box on line 8 (but not 6 or 7) is checked, see instructions for the amounts to enter If none of these boxes are checked, enter 25% of line 5 above in each col Special rules apply to corporations with assets of $ 1 billion or more ( see Instr) Estimated tax paid or credited for each period (see instructions ) For column (a) only , enter the amount

(b)

c

d

9

05/15/06

06/15/06

09/15/06

12/15/06

10

10 11

149627. 191000.

149627. 191000.

149626.

149627. 220000 .

11

from line 11 on line 15
Complete lines 12 through 18 of one column before going to the next column. Enter amount , if any, from line 18 of the preceding column Add lines 11 and 12 Add amounts on lines 16 and 17 of the preceding column Subtract line 14 from line 13 . If zero or less , enter -0If the amount on line 15 Is zero, subtract line 13 from line 14 Otherwise , enter -0Underpayment . If line 15 is less than or equal to line 10, subtract line 15 from line 10. Then go to line 12 of the next column . Otherwise , go to line 18 . .

12 13 14 15 16 17

41373. 13 .232373.
12 14 15

82746. 82746. 82 746
0

220000.
6 6 880.

2 32 37 3 .
0

15 312 0 .

17

66880

18

Overpayment . If line 10 Is less than line 15, subtract line 10 82 746 . 18 from line 15 Then g o to line 12 of the next column Go to Part IV on page 2 to figure the penalty Do not go to Part IV if there are no entries on line 17 - no penalty is owed.
For Paperwork Reduction Act Notice , see separate Instructions . Form 2220 (2006)

JWA 612801
01-15-07

12300507

788779 fnd

27 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

Form 990-PF
Form MO ( 2006 ) Pert 13f CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Page 2 Figuring the Penalty

19 Enter the date of payment or the 15th day of the 3rd month after the close of the tax year, whichever is earlier (see instructions ). (Form 990 - PF and Form 990-T filers : Use 5th month instead of 3rd month.)
20 Number of days from due date of Installment on line 9 to the date shown on line 19

19
20

21

Number of days on line 20 after 4/1 512 006 and before 7/1/2006

22

Underpayment on line 17 x Number of days on line 21 x 7% 365 Number of days on line 20 after 6/30/2006 and before 4/1/2007

23

24

Underpayment on line 17 x Number of days on line 23 x 8% 365 Number of days online 20 after 3/31/2007 and before 7/1/2007

25

26

Underpayment on line 17 x Number of days on line 25 X'% 365 Number of days on line 20 after 6/30/2007 and before 10/1/2007

27

Seel Attached Worksheet

28

Underpayment on line 17 x Number of days on line 27 x 365 Number of days on line 20 after 9/30/2007 and before 1/1/2008

29

30

Underpayment on line 17 x Number of days on line 29 x 365 Number of days on line 20 after 12/31/2007 and before 2/16/2008

31

32

Underpayment on line 17 x Number of days on line 31 x •% 366 Add lines 22, 24, 26, 28, 30, end 32

33

34 Penalty . Add columns (a) through (d), of line 33 . Enter the total here and on Form 1120, line 33,

1275.
* For underpayments paid after March 31, 2007: For lines 26, 28, 30, and 32, use the penalty interest rate for each calendar quarter, which the IRS will determine during the first month in the preceding quarter. These rates are published quarterly in an IRS News Release and in a revenue ruling in the Internal Revenue Bulletin To obtain this information on the Internet, access the IRS website at www.irs .gov. You can also call 1-800-829-4933 to get interest rate information. JWA

Form 2220 (2006)

612802 01-15-07

12300507 788779 fnd

28 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

Form 990-PF UNDERPAYMENT OF ESTIMATED TAX WORKSHEET

Name ( s) CARL & RUTH SHAPIRO FAMILY FOUNDATION
(A) NDate (B) Amount (C) Adjusted Balance Due -0(D ) Number Days Balance Due

Identifying Number 04-6135027
( E) Daily Penalty Rate (F) Penalty

05/15/06 05/15/06 06/12/06 06/15/06 09/15/06 12/11/06 12/15/06

149627. -191000. -191000. 149627. 149626. -220000. 149627.

149627. -41373. -232373. -82746. 66880. -153120. -3493. 87 .000219178 1275.

Penalty Due ( Sum of Column F) • Date of estimated tax payment, withholding credit date or installment due date
612511 05-01-06

1275.

29
12300507 788779 fnd 2006.05000 CARL & RUTH SHAPIRO FAMILY FND

For4562
Department of the Treasury Internal Revenue Service Name (s) shown on return

OMB No 1545-0172

Depreciation and Amortization
(Including Information on Listed Property)
^ See separate instructions. ^ Attach to your tax return.

990-PF

2006
Attachment Sequence No 67 Identifying number

Business or activity to which this form relates

CARL & RUTH SHAPIRO FAMILY FOUNDATION
IP 1 2 3 4
5 6

orm 990-PF Page 1

11 Election To Expense Certain Property Under Section 179 Note : If you have an v fisted property. complete Part V before Maximum amount. See the instructions for a higher limit for certain businesses 2 Total cost of section 179 property placed in service (see instructions) Threshold cost of section 179 property before reduction in limitation 4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0Dollar limitation for tax year Subtract line 4 from line 1 If zero or less, enter -0- If married filing separately , see Instructions 5
(a) Description of property (b) cost (business use only) (c) Elected cost

)4-6135027 >mplete Part / 108000. 430000.

7 Listed property. Enter the amount from line 29 _ 1 7 1 8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 9 Tentative deduction. Enter the smaller of line 5 or line 8 10 Carryover of disallowed deduction from line 13 of your 2005 Form 4562 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 13 Carryover of disallowed deduction to 2007. Add lines 9 and 10, less line 12 ^ 13 Note : Do not use Part ll or Part 111 below for listed property. Instead, use Part V. Part It I Special Depreciation Allowance and Other Depreciation (Do not include listed propel 14 Special allowance for qualified New York Liberty or Gulf Opportunity Zone property (other than listed property) placed in service during the tax year . 15 Property subject to section 168(f)(1) election 18 Other deorectatlon (including ACRS) cart HII I MACRS Depreciation (Do not include listed property.) (See Instructions.) Section A
17 MACRS deductions for assets placed in service in tax years beginning before 2006 . ^

9

17

333.

18 If you are electing to group any assets placed in service during the tax year Into one or more general asset accounts , check here
(b) Month and year placed in service (c) Basis for depreciation (buslnesslnvestment use only - see Instructions)

Section B - Assets Placed in Service During 2006 Tax Year Using the General Depreciation System
(a) Classification of property (d) Recovery pe ri od ( e) Convention (f) Method (g) Depreciation deduction

19a c

3-year property 5-year p ro p ert y 7-year propert y 10 -year property O

430. 5 Yrs.

MQ

200DB

22.

h i

S/L MM S/L MM S/L MM 39 yrs. / Nonresidential real property / MM S/L Section C - Assets Placed in Service During 2006 Tax Year Using the Alternative Depreciation System Residential rental property / / S/L S/L S/L

27.5 yrs. 27.5 yrs.

Class life 12 ear 12 yrs. 40-year 40 yrs. I partly I Summary (see instructions) 21 Listed property. Enter amount from line 28 22 Total . Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here and on the appropriate lines of your return. Partnerships and S corporations - see ins 23 For assets shown above and placed in service during the current year, enter the portion of the basis attributable to section 263A costs 23 e 10-17-06 LHA For Paperwork Reduction Act Notice , see separate instructions.

20a b c

MM

355.

Form 4562 (2006)

12300507 788779 fnd

30 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1

Forrri 4562 (2006) CARL & RUTH S HAP I RO FAMILY FOUNDATION 04-6135027 Page 2 r Listed Property (Include automobiles, certain other vehicles, cellular telephones, certain computers, and property used for entertainment, recreation, or amusement.)
Note: For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 24b, columns (a) through (c) of Section A, all of Section B, and Section C if applicable. Section A - Depreciation and Other Information (Caution : See the instructions for limits for passenger automobiles.)
zga UU UU IIAVe UVIUYIIGM LU SUFI Ull the UUSlli bb/IIIVCbthhlClll use l:Io1111Bu I L_.l Tes II NO Z40 IT - T es - is Tne evide nce wnrten"r L J Yes I_-_J No

(a) Type of property (list vehicles first)

(b) Date placed in service

(c) Business/ investment use percentage

(CO
Cost or other basis

(e)
Basis for depredation (business/investment
use only)

(0 Recovery period

(9) Method/ Convention

(h) Depreciation deduction

(1) Elected section 179

cost

25 Special allowance for qualified New York Liberty or Gulf Opportunity Zone property placed in service during the tax year and used more than 50% in a q ualified business use

25

27 Prooertv u S/L % 28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 29 Add amounts in column (i), line 26. Enter here and on line 7, page 1 S/L 28

29 Section B - Information on Use of Vehicles Complete this section for vehicles used by a sole proprietor, partner, or other more than 5% owner," or related person. If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles. (a) Vehicle (b) Vehicle (c) Vehicle (d) Vehicle (e) Vehicle (f) Vehicle

30 Total businesslinvestment miles driven during the year (do not include commuting miles) 31 Total commuting miles driven during the year 32 Total other personal (noncommuting) miles driven 33 Total miles driven during the year. Add lines 30 through 32 34 Was the vehicle available for personal use during off-duty hours? 35 Was the vehicle used primarily by a more than 5% owner or related person? 36 Is another vehicle available for personal use?

Yes

No

Yes

No

Yes

No

Yes

No

Yes

No

Yes

No

Section C - Questions for Employers Who Provide Vehicles for Use by Their Employees Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are not more than 5% owners or related persons. No 37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your Yes employees? . 38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your employees? See the instructions for vehicles used by corporate officers, directors, or 1 % or more owners 39 Do you treat all use of vehicles by employees as personal use? 40 Do you provide more than five vehicles to your employees, obtain information from your employees about the use of the vehicles, and retain the information received? . 41 Do you meet the requirements concerning qualified automobile demonstration use? Note: If your answer to 37, 38, 39, 40, or 41 is "Yes, " do not complete Section B for the covered vehicles. Amortization
(a) Description of costs
(b) Daleamortful n begins Nc) Amortizable amount (d) Code section (e) Amortzaton rieliod or pet ruSOE (f) Amortization for this year

42 Amortization of costs that begins during your 2006 tax year:

43 Amortization of costs that began before your 2006 tax year 44 Total. Add amounts in column (f). See the instructions for where to report
616252/10.17-06

43 44 Form 4562 (2006)

12300507 788779 fnd

31 2006.05000 CARL & RUTH SHAPIRO FAMILY

FND

1