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 1
990-r.f , Return of Private Foundation 0MBNo. 1545-0052
Form

Department
If
oftheTreasury'-
InternalRevenueservice
or Section 4947(al(11Nonexempt Charitable Trust Treated as a Private Foundation
Note: The organizationmay be able to use a copy of this return to satisfy state reporting requirements.
2003
For the calendar year 2003, or tax year beginning 10/01 1 2003, and ending 0 9/ 30 ,20 0 4
G Check all that apply: D Initialreturn D Frnalreturn D Amendedreturn D Address change D
Namechange
Nameof organization A Employeridentificationnumber
Use the IRS
label.
THE MILSTEIN FAMILY FOUNDATION 95-4824595
Number nndstreet(orP O boxnumberIf mailIs notdeliveredto streetaddress) B Telephonenumber
(seepage10ofthe
Otherwise, Instructions)
print
16027 VENTURA BLVD #550
or type.
(323)933-9306
See Specific
Cityor town,state,andZIP+ 4 c; If exemption
pending,
apphcatoon
checkhere
1s
...o
Instructions
D 1. Foreignorganizations, D
checkhere. IJJi,,
ENCINO, CA 91436 2. foreignor anizntionsmeat,ngtho
H Check type of organization: [X] Section 501(c)(3)exempt private foundation
1 D
85'1.test,c eekhereandnttnch IJJi,,
compurntlon
n Section 494 7(a)(1)nonexempt charitable trust n Other taxable private foundation
E If privntefoundntoon
stntuswasterminated D
I Fair market value of all assets at end J Accountingmethod: [xJ Cash D Accrual undersection607(b)(t)(A),checkhere IJJi,,
of year !from Part II, col. (cl. line D Other (specify) F If thefoundation1sIna SO-month terminatlrn--i
S 4.369.075.
16) IJJi> (Part I, column(di must be on cash basrs.) undersection507(b)(
t )(B),checkhere IJJi,,
l:r. iI Analysisof Revenueand Expenses(Thetotalof (al Revenue and (bl NetInvestment (cl Adjusted net (di Disbursements
amounts Incolumns(b),(c),and(d)maynornecessarilyequal expensesper income income forchar,tabfepurposes
theamounts Incolumn (a) (seepage10of the Instructions)) books (cashbasisonly)
1 Contributions, grits, grants, etc., received (att. sch.) 1,900,000. SEE SCHEDULE 4
D If rhefoundation1snotrequiredto attachSch B
Check IJJi,,
2 Orstr1but1onsfrom splrt-rnterest trusts
(I)
0 3 Interest on savings and temporary cash investments 730. 730. 730.
)> 4 Orv1dendsand interest from securities 178 853. 178.853. 178.853.
z 5 a Gross rents
z b (Net rental income or (loss) I
mR 6 a Net garn or (loss) from sale of assets not on lrne 10
Oe
V b Grosssalespriceforall assetsonline61
c::>e 7 Capitalgain net income !from Part IV,lrne 21
~ 8 Net short-term caprtal garn
NJ 9 Incomemodrfrcatrons
l'\J 10a Gross sales less returns
and allowances I
of? b Less: Cost of goods sold I
C Gross prof rt or (loss) (att. sch I
11 Other income (att. sch.)
12 Total (add.Imes 1 through 11) 2.079.583. 179.583. 179 583.
0 13 ~nsa~o of officers, directors, trustees, etc.
p
~ _. salaries and wages
~~~ sron p~ ~mployee benefits

G~ ~ h l SEE SCHEDULE 2 900. 900.

~~
fee (ntt sch)
t
~~ \attach schedule) BdilBigE6CHmUilililct1iiisl 3.153. 3.153. 3 153. 3 153.
m p ec1atron(att. sch I and depletion
n 20 Occupancy
i
s 21 Travel, conferences, and meetings
t 22
r Prrntrngand publrcatrons
a 23 Otherexpenses(att sch)
t SEE SCliEDUr..E5 984. 984. 984. 984.
i 24 Total operatingand administrativeexpenses.
V
e Add Irnes 13 through 23 5.037. 4.137. 4 137. 5.037.
Ex- 25 Contrrbut1ons,gifts, grants pard 89,300. 89.300.
pen- 26 Total expenses and disbursements. Add lrnes
585
24 and 25) 94.337. 4.137. 4 137. 94.337.
'
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursement! 1.985,246.
I
b Net investment income (If negative, enter -0-) 175.446.
C Adjusted net income (If negative, enter -0-1 175 446.
For Paperwork Reduction Act Notice, see the instructions. Form990-PF (2003) ~
3FOPft OIF 12/10/03 \ 0
\I
 2
Form990-~F(20031 THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page 2

,.WIii Ba Ianee Sheets

I I
AttachedschedulesandamounlsInlhe
descriptioncolumnshouldbe 1arend-
ol-yeeramountsonly (SeeInstructions
)
Begmnmgof year
(al Book Value (bl Book Value
End of year
(cl Fair Market Value
1 Cash - non-mterest-bearmg 26.246. 18.349. 18.349.
2 Savings and temporary cash investments 50.770. 104.404. 104.403.
3 Accounts receivable ..,.
----- - ..---- ....
-- - .................
Less: allowance for doubtful accounts ..,. ............................
4 Pledges receivable ....
Less. allowance for doubtf~i accounts-..,..-- - - - - - - - - - - -
5 Grants receivable
-------------
6 Recelvarlesduefromolllcers,direclors,lruslees,endolher
d1squell1edpersons(attach
sch.)(seepage15ol lhe inslr.)
A 7
~~:1::v~i1,~s(:r/
!~gn,s....
s
s Less: allowance for doubtful accounts ..,.
e 8 Inventories for sale or use
-------------
t
s 9 Prepaid expenses and deferred charges
10a lnves1men1s-U S andsl,le
~overnmenl obligllionsan. sch)
nveslmenls-
b corporale 3.033.490.
slack(ett.sch.I 1.661.840. 3 046 923.
C lnveslmenls-
corporalebonds(att sch.I 617.641. 685.499. 699.400.
11 lnveslmenls - land,buildings,
andequipmenlbasis
....
---------------------
Less:eccumulaled depreciation....
(ellachschedulel ---------------------
12 Investments-mortgage loans 500.000. 500.000.
13 Investments-other (att. sch.I
14 Lend, buildings,end
equlpmenlbasis ..--
.... -- -----
....-- ....- ........
Less.eccumulaied depreclelion....
(attachschedulel ---------------------
15 Other assets (describe ..,. )
- .......- ....-------- ..- - -- - --
16 Total assetsIto be completed by all filers - see page 16 of
the instructions). Also, see page 1, item I) 2.356.497. 4.341.742. 4 369.075.
17 Accounts payable and accrued expenses
L
i 18 Grants payable
a 19 Deferred revenue
b
i 20 Loanslromollicers,dlreciors,irusiees,andoiherdlsqualllledpersons
I Mor1gages andairer noies
i 21 peya le (an sch
t )
i 22 Other hab1ht1es(describe ..,..............................................
e
s
23 Total liabilities (add Imes 17 through 22) o. 0.
N Organizationsthat follow SFAS 117, checkhere ..,.[x]
e
t and completelines24 through26 and lines 30 and 31.
A 24
s Unrestricted 2.356.497. 4.341.742.
s 25 1emporarily restricted
t
s
26 Permanently restricted
Organizationsthat do not follow SFAS 117,
or
F
1:heckhere and completelines27 through31. ....
o
u 27 Capitalstock, trust principal, or current funds
n
d 28 f'a1d-m or capital surplus, or land, bldg, and equipment fund
B 29 Helainodearnings,accumulated
income,endowmenl,
or olherlunds
a
I 30 Total net assetsor fund balances(see page17 of the
a
n instructions) 2.356.497. 4.341.742.
C
e 31 rotal liabilities and net assets/fund balances (see page 17
s of the instructions) 2 356.497. 4.341.742.
iWIOJAnalysis of Changes in Net Assets or Fund Balances
1 Totalnet assets or fund balances at beginning of year - Part II, column (a), line 30 1 2.356.497.
(must agree with end-of-year figure reported on prior year's return)
2 Enter amount from Part I, line 27a 2 1.985.246.
3 Other increases not included m line 2 (itemize) ..,. 3
4 Add Imes 1, 2, and 3
----------------------------------------- 4 4.341.743.
5 Decreases not included m line 2 (Itemize)..,. 5
6
----------------------------------------------
Total net assets or fund balances at end of vear (line 4 minus line 5) - Part II, column (b), line 30 6 4.341.743.
Form 990-PF (2003)

3FOPF2 0 IF 12/10/03
 3
Form 990-p'f (2003) THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page3
1::r.TilT CapitarGains and Losses for Tax on Investment Income
lb) How (cl Date
(al List anddescribethe k.md(s)of property sold (e.g., real estate, acquired (dl Datesold
P-Purchase acquired
2-story brick.warehouse;or commonstock.,200 shs. MLCCo.) (mo.,day,yr.)
D-Donation (mo.,day,yr.)
1a
b
C

d
e
(fl Deprec1at1onallowed (g) Costor other basis (h) Gamor (loss)
(el Grosssales price plus expenseof sale
(or allowable) (el plus (fl mmus(g)
a
b
C
d
e
Completeonly for assetsshowinggamm column(h) andownedby the foundationon 12/31/69 (I) Gains(Col.(h) gammmus
(j) Adjusted basis (kl Excessof col. (ii col (k), but not less than -0-lor
(il F.M.V.as of 12/31/69 Losses(from col. (h))
as of 12/31/69 over col. (j), 11any
a
b
C

d
e

2 Capitalgamnet incomeor (net capital loss). { If gam,also enter m Part I, lme 7

If (loss),enter -0- m Part I, lme 7
}
2

3 Net short-term capital gamor (loss)as def med m sections 1222(5)and(6):

If gem,also enter m Part I, lme 8, column(cl (see pages13 and 17 of the mstruct1ons).
If (loss),enter - 0- m Part I, hne 8
} 3
l:.f.Ti'Qualification Under Section 4940{e) for Reduced Tax on Net Investment Income
(For optionaluse by domesticprivate foundationssubjeCtto the section 4940(a)tax on net investmentincome.)

If section 4940(d)(2)applies, leavethis part blank.

Was the organ1zat1on liable for the section 4942 tax on the distributableamountof any year in the baseperiod? D Yes D No
If "Yes," the organizationdoesnot qualify under section 4940(e).Do not completethis part.

1 Enter the appropriateamountm eachcolumn for eachyear; see page 17 of the mstruct1onsbefore makingany entries.

(al (bl (cl 141

Basfiperiod years Calendarrear Adjusted qualifying d1stribut1ons Net value D1str1but1onratio
or tax year begmnmgm of noncharitable-useassets by col. (ell
(col. (b) d1v1ded
2002
2001
2000
1999
1998

2 Total of hne 1, column(d) 2

3 Averaged1str1but1onratio for the 5-year baseperiod-d1v1dethe total on lme 2 by 5, or by
the numberof years the foundationhasbeen m existence If less than 5 years 3

4 Enter the net value of noncharitable-useassets for 2003 from Part X, lme 5 4

5 Multiply hne 4 by lme 3 5

6 Enter 1% of net investmentincome(1% of Part I, lme 27b) 6

7 Add Imes 5 and 6 7

8 Enter quahfymgd1stribut1onsfrom Part XII, lme 4 8

If lme 8 1sequalto or greater than lme 7, check the box m Part VI, lme lb, andcompletethat part usmga 1% tax rate. See
the Part VI mstruct1onson page17.
3F0PF3 0 IF 12/10/03 Form 990-PF (2003)
 4

Form99o-Pr1zod 3l THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page4

l::t:11 Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940 e , or 4948- see pg 17 of the instr)
1 a Exempt operating foundationsdescribed m section 4940(d)(2),check here ~0
and enter "N/A" on line 1.
Date of ruling letter: (attach copy of rulingletter if necessary- see instructions)
b DomesticorganIzatIonsthat meet the section 4940(e) requirements m Part V, check > 1 3,509.
here ~0 and enter 1% of Part I, lme 27b
c All other domestic organIzatIonsenter 2% of lme 27b. Exemptforeign organizationsenter 4% of Part I, line 12, col. (b). -'
2 Tax under section 511 (domestic section 4947(a)(1) trusts andtaxable foundationsonly. Others enter -0-) 2
3 Add Imes 1 and 2 3 3.509.
4 Subtitle A (income)tax (domesticsection 4947(a)(1) trusts andtaxable foundationsonly. Others enter -0-) 4
5 Tax basedon investment income. Subtract lme 4 from lme 3. If zero or less, enter -O- 5 3.509.
6 Cred1ts/Payments:
a 2003 estimated tax paymentsand 2002 overpaymentcredited to 2003 6a 2,350.
b Exempt foreign organizations- tax withheld at source 6b
c Tax paidwith applicationfor extension of time to file (Form 8868) t--6_c-+------------t
d Backupw1thholdmgerroneouslywithheld ~6_d~------------<
7 Total credits and payments.Add Imes 6a through 6d) 7 2.350.
8 Enter any penalty for underpaymentof estimatedtax. Checkhere [xJ 11Form 2220 Is attached 8
9 Tax due. If the total of Imes 5 and 8 Is more than line 7, enter amount owed ~ 9 L 159.
10 Overpayment. If line 7 Is more than the total of Imes 5 and 8, enter the amount overpaid ~ 10
11 Enter the amountof lme 10 to be: Credited to 2004 estimated tax ~ IRefunded~ 11
l:.F.Tlu Statements Regarding Activities
1 a During the tax year, did the organizationattempt to influence any national,state, or local leg1slat1on
or did Yes No
It p11rtIcIpate
or intervene m any pol1t1calcampaign? 1a X
b Did It spendmore than $ 100 during the year (either directly or indirectly) for political purposes(see page
18 of the instructions for def1nit1on)? 1b X
If the answer Is "Yes" to 1a or 1b, attach a detailed description of the actIvItIes and copies of any materials
publishedor distributed by the organizationm connectionwith the actIvItIes
c Did the organizationfile Form 1120-POL for this year? 1c X
d Enter the amount(1! any)of tax on political expenditures (section 4955) imposedduring the year:
(1) Onthe organIzatIon.~ $ 0. (2) Onorganizationmanagers.~ $ _______ ~0~-
e Enter the reimbursement(if any)paid by the organizationduring the year for political expenditure tax imposed
on organizationmanagers. ~ $ 0
2 Hasthe organizationengagedm any actIvItIes that havenot previously beenreported to the IRS? 2 X
If "Yes," attach a detailed description of the actIvItIes.
3 Hasthe organizationmadeany changes,not previously reported to the IRS,m its governinginstrument,
articles of mcorporatIon,or bylaws, or other s1m1larinstruments?If "Yes," attach a conformed copy of the changes 3 X
4 a Did the organizationhaveunrelatedbusinessgross incomeof $1,000 or more during the year? 4a X
b If "Yes," has It flied a tax return on Form 990-T for this year? N/A 4b
5 Was there a liqu1dat1on, termmatIon,d1ssolut1on or substantialcontraction during the year? N/A 5 X
If "Yes," attach the statement required by GeneralInstruction T.
6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) sat1sf1edeither:
By languagem the governinginstrument; or
By state leg1slat1on
that effectively amendsthe governinginstrument so that no mandatoryd1rect1ons
that conflict with the state law remain m the governinginstrument? 6 X
7 Did the organizationhaveat least $5,000 m assetsat any time during the year? If "Yes," complete Part 11,col (c), andPart XV. 7 X
8 a Enter the states to which the foundationreports or with which It Is registered (see page 19 of the
mstruct1onsl~ CALIFORNIA
b If the answer Is "Yes" to lme 7, hasthe organizationfurnished a copy of Form 990-PF to the Attorney
General(or designate)of eachstate as required by GeneralInstruction G? If "No," attach explanation Sb X
9 Is the organizationcla1mmgstatus as a private operatingfoundationw1thmthe meaningof section 4942(1)(3)
or 4942(1)(5)for calendaryear 2003 or the taxable year beginningm 2003 (see mstructIons for Part XIV on
page25)? If "Yes," complete Part XIV 9 X
10 Did any personsbecomesubstantialcontributors during the tax year? If "Yes," attach a schedulel1stmgtheir namesandaddress. 10 X
11 Did the organizationcomply with the public InspectIonrequirements for its annualreturns and exemption appl1cat1on? 11 X
Web site address ____________________________________________________________________________________
~ _
12 The books are m care of~ BARAK, RICHTER AND DROR, CPA S I
Telephoneno.~-_{~~-~ }_9}?_-_~?_Q~
___
Locatedat~--~~ _6_?
_!"1_-=-_-t1J:j_ifJj_-_~-jjf~~i!
____
~J6}_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_
ZIP+ 4 ~ 90036
13 S1ict1on4947(a)(1)nonexemptcharitabletrusts 111mg Form 990-PF m lieu of Form 1041. -Check here
and enter the amountof tax-exempt interest received or accruedduring the year N /A ~, 13
----------------- -..-t:r
3FOPF4 OIF t2/t0 03 Form 990-PF (2003)
 5
Form 990-PF (2003) THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page 5
l:f.li,~1c:::i: Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies. Yes No
1 a Duringthe year did the organization(either directly or indirectly):
(1) Engagem the sale or exchange,or leasingof property with a d1squal1f1ed
person? 0Yes [xJ No
(2) Borrow moneyfrom, lend moneyto, or otherwise extend credit to (or accept it from)
a d1squalif1ed
person? DYes [xJ No
(3) Furnishgoods,services, or facilities to (or acceptthem from) a d1squal1f1ed
person? DYes [xJ No
(41 Paycompensationto, or pay or reimbursethe expensesof, a d1squal1f1ed
person? DYes [xJ No
(SI Transfer any incomeor assetsto a d1squalif1ed person(or makeany of either available
for the benefit or use of a d1squalif1ed
person)? DYes [xJ No
(6) Agree to pay moneyor property to a governmentoff1c1al?(Exception. Check"No"
If the organIzatIonagreedto makea grant to or to employthe off1c1alfor a period
after termination of governmentservice, If terminating w1thm90 days.) DYes [xJ No
b If any answer Is "Yes" to la(l)-(6), did any of the acts fall to qualify under the exceptions describedm
Regulationssection 53.494l(d)-3 or ma current notice regardingdisasterassistance(see page 19 of the instructions)? N/ A 1b
Organizationsrelying on a current notice regardingdisaster assistancecheck here ~ D
c Did the organIzatIonengagema prior year tn any of the acts describedm la, other than excepted acts,
that were not corrected before the first day of the tax year beginningin 20037 1c X
2 Tax!lSon failure to distribute income(section 4942) (doesnot apply for years the organization
was a private operatingfoundationdef med m section 4942(11!31
or 4942(11(5)):
a At the end of the tax year 2003, did the organizationhaveany undistributedincome(Imes 6d D Yes [x] No
and Se, Part XIII) for tax year(s)beginningbefore 20037
If "Yes," list the years~
b Are there any years listed m 2a for-._.;h1ch-the
or-ganizat10n-1s of
iiiif appiying-theprovisio-ns sect10~4942(al(2f - - - - - - - - - - -
(relntmg to incorrect valuationof assets)to the year's undistributedincome?(If applyingsection 4942(al(2)
to all years listed, answer "No" andattach statement - see page19 of the instructions.) N/A 2b
c If the provIsIonsof section 4942(al(2)are bemgappliedto any of the years listed m 2a, 11stthe years here.
~
3 a Did the organizationhold more than a 2% direct or indirect interest m any business
enterprise at any time during the year? D Yes [x] No
b If "Yes," dtd tt haveexcess businessholdingsm 2003 as a result of (11 any purchaseby the organization
or d1squal1f1ed
personsafter May 26, 1969; (21 the lapseof the 5-year period (or longer period approved
by the Comm1ss1oner under section 4943(cl(7))to disposeof holdingsacquiredby gift or bequest;or (31
the lapseof the 10-, 15-, or 20-year first phaseholdingperiod?(UseScheduleC, Form 4720, to determine
1f the organizationhadexcess businessholdingsm 2003) N/A lb
4 a Did the organIzatIoninvest during the year any amountma the mannerthat would Jeopardizeits charitablepurposes? 4a X
b Did the organIzatIonmakeany investmentma prior year (but after December31, 1969)that could Jeopardizeits charitable
purposethat hadnot beenremovedfrom Jeopardybefore the first day of the tax year beginningin 20037 4b X
S a Durmg the year did the organizationpay or mcur any amountto:
(11 Carry on propaganda,
or otherwise attempt to influence leg1slat1on
(section 4945(e))? D Yes [x] No
(21 Influence the outcomeof any spec1f1cpublic election (see section 4955); or to carry on,
directly or indirectly, any voter regIstratIondrive? 0Yes [xJ No
(31 Providea grant to an md1v1dual for travel, study, or other similar purposes? 0Yes [xJ No
(41 Providea grant to an organizationother thana charitable,etc., organizationdescribed
m section 509(al(ll, (2), or (3), or section 4940(d)(2)7 0Yes [xJ No
(SI Provide for any purposeother than religious, charitable,sc1ent1f1c, literary, or
educationalpurposes,or for the preventionof cruelty to children or animals? D Yes [x] No
b If nny answer ts "Yes" to 5a(1)-(5), did any of the transactionsfall to qualify underthe exceptions describedm
Regulationssection 53.4945 or in a current notice regardingdisaster assistance(see page20 of the instructions)? N/A Sb
Ornanizat1ons
relying on a current notice regardingdisaster assistancecheck here ~D
c If the answer ts "Yes" to question5a(4),doesthe organizationclaim exemption from the tax
becauseIt maintainedexpenditure respons1b11ity for the grant? 0Yes 0No
If "Yes," attach the statementrequired by Regulationssection 53.4945-S(d). N/A
6 a Did the organization,during the year, receive any funds, directly or indirectly, to pay
prnmIumson a personalbenefit contract? D Yes [x] No
b Did the organization,during the year, pay premiums,directly or indirectly, on a personalbenefit contract? 6b X
If vou answered"Yes" to Sb also file Form 8870.
Form 990-PF (2003)
3FOPF6 Olf 12/10/03
 6
Formsso-p'r120031 THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page6

1;zm~qu 'Information About

1 and Contractors
_____ ,,_
Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,

1 List all officers, directors, trustees, foundation managersand their compensation (see page20 of the instructionsl:
(bl Title andaverage (cl Compensation (di Contributionsto
(al Nameandaddress hoursper week (If not paid,enter employee benefit plans (el Expenseaccount,
devotedto oos1t1on -0-1 and delerred compensation other allowances
SEE SCHEDULE 1

2 Compunsation of five highest-paidemployees(other than those includedon line 1 - see page20 of the instructionsl.
If none,enter "NONE."
(bl Title andaverage (di Contributionsto
(al Namnand addressof each employee paid more than SS0,000 hoursper week (cl Compensation employee benel,t plans (el Expenseaccount,
devotedto oos1t1on and delerred compensation other allowances
NONE

Total numberof other employeespaidover $50,000

3 Five highest-paidindependentcontractorsfor professionalservices- (seepage20 of the instructionsl.If none,enter
~,
"NONE."
(al Nameandaddressof eachpersonpaid more than$50,000 lbl Type of service (cl Compensation

NONE

Total numberof others receiving over $50,000 for professionalservices ~I

jilfftJl;I Summary of Direct Charitable Activities
List the foundation'sfour largest direct charitableact1vit1esduring the tax year. Includerelevent stat1st1cal
information suchas the numbe1
Expenses
of organizationsandother benef1c1aries served,conferencesconvened,researchpapersproduced,etc.
1
N/A

Form 990-PF (20031

3F0PF6 0tF t 2/ t 0/03
 7
Form 990-PF {2003) THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page7

UJiUtll:1
Summary of Program-Related Investments (see page21 of the mstruct1onsl

Describe the two largest program-related investmentsmadeby the foundationdurmg the tax year on Imes 1 and 2. Amount

All other program-related investments.See page21 of the mstructIons.

3

Total. Add Imes 1 through 3 ..,.

~: Minimum Investment Return (All domestic foundationsmust complete this part. Foreign foundations,
see page21 of the mstruct1ons.)
1 Fair market value of assets not used (or held for use) directly m carrying out charitable, etc.,
purposes:
a Average monthly fair market value of securItIes 1a 3.036 000.
b Average of monthly cashbalances 1b 99.880.
c Fair market value of all other assets (see page22 of the mstruct1ons) 1c 500.000.
d Total (addImes la, b, and cl 1d 3.635.880.
e Reductionclaimed for blockageor other factors reported on Imes la and
1c (attachdetailed explanation) I 1e I
2 Acqu1s1t1on
indebtednessapplicableto lme 1 assets 2
3 Subtract lme 2 from lme 1d 3 3.635.880.
4 Cashdeemedheld for charitable actIvItIes. Enter 1 1/2% of lme 3 (for greater amount,see
page23 of the mstructIons) 1--4-+-- ____ 5=-=4:..<-=5-=3:..
_
S Net value of noncharitable-useassets.Subtract lme 4 from lme 3. Enter here and on Part V, lme 4 1--5"-+----=3'--.L..:5:...:8a..=l"".'""'
6 Minimum investment return. Enter 5% of lme 5 6 17 9 0 67
l:f.T- Distributable Amount (see page23 of the mstruct1ons)(Section4942(1)(3)and(1)(5)private operatingfoundations
and certain foreign organizationscheck here .... n
and do not complete this part.)
1 Mm1muminvestmentreturn from Part X, lme 6 1 179.067.
2 a Tax on investment mcome for 2003 from Part VI, lme 5 I 2a I 3.509.
b Incometax for 2003. (This does not include the tax from Part VI.) I zb I
c Add Imes 2a and 2b 2c 3.509.
3 Distributable amountbefore adJustments.Subtract lme 2c from lme 1 3 175.558.
4 a Recoveriesof amountstreated as qualifying d1stribut1ons I 4a I
b Incomed1stribut1onsfrom section 4947(a)(2)trusts I 4b I
c Add Imes 4a and 4b 4c
5 Add Imes 3 and 4c 5 175.558.
6 Deductionfrom distributable amount(see page23 of the mstruct1ons) 6
7 Distributableamountas adJusted Subtract lme 6 from lme 5. Enter here and on Part XIII,
lme 1 7 175.558.
NAAIJII
Qualifying Distributions (see page23 of the mstruct1ons)

1 Amountspaid (mcludmgadm1mstrat1ve expenses)to accomplishcharitable, etc., purposes:

a Expenses,contributions, gifts, etc. - total from Part I, column(d), lme 26 1a 94.337.
b Program-related investments - Total from Part IX-B 1b
2 Amounts paidto acquire assets used (or held for use) directly m carrying out charitable, etc.,
purposes 2
3 Amounts set aside for spec1f1ccharitable proiects that satisfy the:
a Su1tab1l1ty
test (prior IRSapprovalrequired) 3a
b Cashd1stribut1ontest (attachthe required schedule) 3b
4 Qualifyingdistributions Add Imes la through 3b. Enter here andon Part V, line 8 and Part XIII, lme 4 4 94.337.
5 Org11mzat1ons that qualify under section 4940(e) for the reducedrate of tax on net investment
mcome.Enter 1% of Part I, line 27b (see page24 of the instructions) 5
6 Adjustedqualifyingdistributions.Subtract line 5 from line 4 6 94.337.
Note: The amounton line 6 will be used m Part V, column(b), m subsequentyears when calculatingwhether the foundation
qual1f1esfor the section 4940(e) reduction of tax in those years.
3F0PF7 0IF 12/10/03 Form 990-PF (2003)
 8
Form 990-PF 12003) THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page8

Undistributed Income (see page24 of the instructions)

(al (bl (cl (di

Corpus Yearsprior to 2002 2002 2003
1 Distributableamountfor 2003 from Part XI,
line 7 175.558.
2 Und1str1buted
income,1f any,as of the end of 2002:
a Enter amountfor 2002 only 48.166.
b Total for prior years:
3 Excessd1str1but1ons carryover, 1f any, to 2003:
a From 1998
b From 1999
C From 2000
d From 2001
e From 2002
f Total of Imes 3a through e 0.
4 Qualifying d1stribut1onsfor 2003 from Part
XII, lme 4: ... $ 94,337.
a Applied to 2002, but not more than lme 2a 48.166.
b Applied to undistributedincomeof prior years
(Electionrequired - see page24 of the instructions) 0.
c Treatedas d1stribut1ons
out of corpus (Election
required - see page24 of the instructions)
d Applied to 2003 distributable amount 46 171.
e Remainingamountdistributed out of corpus 0.
5 Excessd1stribut1ons carryover appliedto 2003 0. 0.
(If an nmountappearsm column(d), the same
amountmust be shown m column(a).)
6 Enter the net total of eachcolumnas
indicatedbelow.
a Corpus.Add Imes 3f, 4c, and4e. Subtractlme 5 0.
b Prior years' undistributed income.Subtract
line 4h from lme 2b 0
c Enter the amountof prior years' und1str1buted
income for which a notice of def1c1encyhasbeen
issued,or on which the section 4942(a)tax has
beenpreviouslyassessed
d Subtractline Sc from lme Sb.Taxable
amount- see page24 of the instructions o.
e Undistributedincome for 2002. Subtractlme 4a from
lme 2a. Taxableamount-seepage24 of the Jnstruct,ons 0.
f Undistributedincome for 2003. Subtract
lines 4d and 5 from line 1. This amountmust be
d1str1hutedm 2004 129 387.
7 Amountstreated as d1stribut1ons
out of corpusto
satisfy requirements imposedby section 170(b)(1)(E)
or 4942(g)(3)(see page25 of the instructions)
8 Excessd1stribut1ons carryover from 1998 not applied
on lme 5 or lme 7 (see page25 of the instructions) 0
9 Excessdistributionscarryover to 2004.
SubtractImes 7 and 8 from line Sa 0
10 Analysisof lme 9:
a Excess from 1999
b Excess from 2000
c Excess from 2001
d Excess from 2002
e Excess from 2003
Form 990-PF (2003)

3FDPF8 !IIF 12/10/03

 9
Formsso-PH20031 THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page9
' Private Operating Foundations (see page 25 of the instructions and Part VII-A, question 9)
1 a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling 1seffective for 2003, enter the date of the ruling
b Checkb ox to ind1catew het her t he organization1sa cr1vateoceratinc foundation described in section D 4s~'------==--------
421H3l
I or D 4942(J)(5).
2a Enter the lesser of the Tax year Prior 3 years
ad1ustudnet income from (al 2003 (bl 2002 (c)2001 (d) 2000 (el Total
Part I ur the minimum
investment return from Part
X for each year listed
b 85% of line 2a
c Qualifying d1stribut1onsfrom Part
XII, line 4 for each year listed
d AmountsIncluded In line 2c not
used directly for ecllve conducl
of exempt ecllvilles
e Qualifying d1stribut1onsmade
directly for active conduct of
exempt act1v1t1es. 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 essets qualifying
under section
4~42(j)(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:
(11 Total support other than
ross investment income
interest, d1v1dends,rents,
paymentson securities
loans (section 512(a)(5ll,
or royalties)
(21 Support from general
public and 6 or more
exempt organlzal1ons
us provided In secllon
4942())(3)(8)(111)
(31 Largesl amountof support
from en exempl
orgenlzollon
(41 Gross investment income
1:1:,11 ,,. Supplementar'( lnfor~ation (Complete this part only if ~he org~nization had $5,000 or more in
assets at any time during the year - see page 25 of the instructions.)
InformationRegardingFoundationManagers:
a List any managersof 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 1f they have contributed more than $5,000). (See section 507(d)(2).)

SEE SCHEDULE 6
b List any managersof 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.

NONE
2 InformationRegardingContribution,Grant, Gift, Loan,Scholarship,etc., Programs:
Check here ~ [xJ If the organizationonly makes contr1but1onsto preselected charitable organizationsand does not accept unsolicited requests for funds.
If the organ1zat1on
makes gifts, grants, etc., (see page 25 of the instruct1onslto ind1v1duals
or organizationsunder other cond1t1ons,
complete items 2a, b, c, and d.
a The name,address,and telephone number of the person to whom applicationsshould be addressed:

b The form in which applications should be submitted and information and materials they should include

c Any subm1ss1on
deadlines:

d Any restrictions or l1m1tat1ons

on awards, such as by geographicalareas, charitable fields, kinds of inst1tut1ons,or other factors:

3FOP91 0IF 12/10/03 Form 990-PF (2003)

 10
Form99o~PF(20031 THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page 10
jil1Jfjfl' Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Rec1p1ent If rec,pienlIs an Individual, Foundation
showanyrelalionshlplo Purpose of grant or
status of Amount
anylounda11on manager contribution
Name and address (home or business) or subslanlialcon1ribu1or rec1p1ent
a Paid during the year

SEE SCHEDULE 7 89,300.

Total ..., 3a 89.300.

b Approved for future payment

Total .... 3b
Form 990-PF (2003)

3FOP92 0 IF 12/10/03
 11
Form990:PF(20031 THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page11

Analysis of Income-Producing Activities

Enter gross amountsunless otherwise indicated. Unrelatedbusinessincome Excludedby section 512. 513, or 514 (el
Relatedor exempt
(al (bl (cl (dl functionIncome
Business Amount Exclusioncode Amount (Seepage26 of
1 Programservice revenue: code theInstructions
I
a
b
C

d
e
f
g Feesand contracts from governmentagencies
2 Membershipduesandassessments
3 Interest on savingsandtemporary cash investments 730.
4 O1v1dends
and interest from securities 178.853.
5 Net rental incomeor (loss) from real estate:
a Debt-financed property
b Nut debt-financed property
6 Net rental income or (loss) from personalproperty
7 Other investment income
8 Gainor (loss)fromsalesof assetsotherthenInventory
9 Net incomeor (loss) from special events
10 Grossprof rt or (loss) from sales of inventory
11 Other revenue: a
b
C

d
e
12 Subtotal.Add columns(b), (d), and (e) 179.583.
13 Total. Add line 12, columns(b), (dl, and (el ~ 13 -----=1::..7:...:9a...,...,5:::a..8;::;..3
(Seeworksheet in line 13 instructions on page26 to verify calculations.)

Relationship of Activities to the Accomplishment of Exempt Purposes

Explainbelow how eachact1v1tyfor which income 1sreported in column(el of Part XVI-A contributed importantly to
LineNo. the accomplishmentof the organization'sexempt purposes(other than by providing funds for such purposes).(See
T page26 of the instructions.I

3FDP
II O1F 12/10/03 Form 990-PF (2003)
 12
Form 990-PF (2003) THE MILSTEIN FAMILY FOUNDATION 95-4824595 Page12

1m1am
1 Information Regarding Transfers To and Transactions and Relationships With Noncharitable
Exempt Organizations
1 Did the organizationdirectly or indirectly engagein any of the following with any other organizationdescribedin section Yes No
501(c) of the Code(other than section 501(c)(3)organizations)or in section 527, relating to pol1t1calorganizations?
a Transfers from the reporting organizationto a noncharitableexempt organizationof:
( 11 Cash 1a(11 X
(2) Otherassets 1a(2) X
b Other transactions:
(11 Salesof assetsto a noncharitableexempt organization 1b(11 X
(2) Purchasesof assets from a noncharitableexempt organization 1b(21 X
(3) Rentalof facilities, equipment,or other assets 1b(31 X
(41 Reimbursementarrangements 1b(41 X
(5) Loansor loanguarantees 1b(51 X
(61 Performanceof services or membershipor fundra1singsol1c1tat1ons 1b(6) X
c Sharingof fac1l1t1es,
equipment,mailing lists, or other assets,or paid employees 1c X
d If the answer to any of the above1s"Yes," completethe following schedule.Column(bl shouldalways show the fair market
value of the goods,other assets,or services given by the reporting organization.If the organizationreceived less than fair
market value in any transactionor sharingarrangement,show in column (di the valueof the goods,other assets,or services
received
(al Line no. (bl Amount involved (c) Nameof noncharitableexempt organization (diDescriptionof transfers, transactions,andsharingarrangement
NIA

2 a Is the organizationdirectly or indirectly affiliated with, or related to, one or more tax-exempt organizations
describedin section 501(c) of the Code(other than section 501(c)(3))or in section 5277 0Yes [x]No
b If "Yes," completethe following schedule.
(al Nameof or anizat1on (b) T e of or anizat1on (c) Descr1t1onof relat1onsh1
NA

p
I
e
a
s
e

90036-2835 323 933-9306

Form 990-PF (2003)

3FOP12 02F l 2/ 18/03

 15
SCHEDULE B 0MBNo 1646-0047
(Form 990, 990-EZ, Schedule of Contributors
or 990-PFI

Oeparlmentof the Treasury

Supplementary Information for
line 1 of Form 990, 990-EZ and 990-PF (see instructionsl
2003
Internal RevenueService
Name the organization Employer identification number

THE MILSTEIN FAMILY FOUNDATION 95-4824595

Organization type (check one):

Filers of: Section:

Form 990 or 990-EZ D 50 l(c)( I (enter numberlorganization

D 4947(a)(1)nonexemptcharitabletrust not treated as a private foundation

D 527 political organization

Form 990-PF D 501(c)(31exempt private foundation

D 4947(a)(1)nonexemptcharitabletrust treated as a private foundation

[xJ 501(c)(3)taxable private foundation

Checkif your organization1scoveredby the GeneralRuleor a SpecialRule.(Note: Onlya section 501(c)(7),(8), or (1DI
organizationcan check box(esl for both the GeneralRuleanda SpecialRule - see instructions.)

GeneralRule-

[xJ For organizationsfiling Form 990, 990-EZ, or 990-PF that received, during the tax year, $5,000 or more (in moneyor property) from any
one contributor. (CompleteParts I and II.)
SpecialRules-

D For a section 501(c)(3)organizationfiling Form 990, or Form 990-EZ, that met the 33 1/3% supporttest of the regulationsunder
509(a)(1)/170(b)(1)(A)(v1)
andreceived from any one contributor, during the year, a contribution of the greater of $5,000 or 2% of the amounton line
1 of these forms. (CompleteParts I and II )

D For a section 501(c)(7),(8), or (10) organizationfiling Form 990, or Form 990-EZ, that received from any one contributor, during the year, aggregate
contributions or bequestsof more than $1,000 for use exclusively for rehg1ous,charitable,sc1ent1f1c,
literary, or educationalpurposes,or the
preventionof cruelty to children or animals.(CompleteParts I, II, and Ill.)

D For a section 501(c)(7),(8), or (10) organizationfiling 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 contributionsdid not aggregateto more than $1.000. (If this
box 1schecked,enter here the total contributionsthat were received during the year for an exclusively rel1g1ous,
charitable,etc., purpose.Do not
completeany of the Parts unlessthe GeneralRuleappliesto this organizationbecause1treceived nonexclus1velyreligious, charitable,etc.,
contributionsof $5,000 or more during the year.I ~ $ ________ _

Caution: Organizationsthat are not coveredby the GeneralRuleand/or the SpecialRulesdo not file ScheduleB (Form990, 990-EZ, or 990-PF), but they must
check thll box in the headingof their Form 990, Form 990-EZ, or on line 1 of their Form 990-PF, to certify that they do not meet the filing requirementsof
ScheduleB (Form990, 990-EZ, or 990-PF).

far Paperwllll Rddiaa Act llalice, see die IIISlnldioas Schedule B (Form 990 or 990-EZ, or 990-PFI (20031
lor fora 99D Fara 990-EZ.

399081 0tf 12/10/03

 16
ScheduleB (Fotm 990 or 990-EZ, or 990-PF) (2003) Page 1 to 1 of Part I
Name of organization Employer identification number
THE MILSTEIN FAMILY FOUNDATION 95-4824595
tli)JilContributors
(al (bl (cl (dl
No. Name,address, and ZIP + 4 Aggregate contributions Type of contribution

_1 TUVIA & GILA MILSTEIN Person [xJ

Payroll D
16027 VENTURA BLVD #550 $ 1,051,000. Noncash D
(CompletePart II If a
ENCINO, CA 91436 noncashcontr1but1on.)

(al (bl (cl (di

No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

_2 MERAV MILSTEIN Person [xJ

Payroll D
16027 VENTURA BLVD #550 $ 70,000. Noncash D
(CompletePart II 1f a
ENCINO, CA 91436 noncashcontr1but1on.l

(al (bl (cl (di

No. Name,address, and ZIP + 4 Aggregate contributions Type of contribution

_3 LYRON MILSTEIN Person [xJ

Payroll D
16027 VENTURA BLVD #550 $ 70,000. Noncash D
(CompletePart II 1f a
ENCINO, CA 91436 noncashcontribut1on.l

(al (bl (cl (di

No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

_4 NATALIE MILSTEIN Person [xJ

Payroll D
16027 VENTURA BLVD. , #550 $ 70,000. Noncash D
(CompletePart II If a
ENCINO, CA 91436 noncashcontr1but1on.)

(al (bl (cl (di

No. Name,address, and ZIP + 4 Aggregate contributions Type of contribution

_5 PACIFIC WEST MANAGEMENT,LLC Person [xJ

Payroll D
16027 VENTURA BLVD., #550 $ 639,000. Noncash D
(CompletePart II If a
ENCINO, CA 91436 noncashcontr1but1on.)

(al (bl (cl (di

No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

-- Person D
Payroll D
$ Noncash D
(CompletePart II 1f a
noncashcontr1but1on.l

Schedule B (Form 990 or 990-EZ, or 990-PFI (20031

3990B2 0IF 12/10/03
 17
Federal Attachments 2003
Name(s)as shown on relurn lden11localionNumber

rHE MILSTEIN FAMILY FOUNDATION 95-4824595

FORM 990-PF PART VIII - OFFICERS, DIRECTORS, TRUSTEES, KEY EMP'S SCHEDULE 1

NAME AND ADDRESS TITLE HRS/WEEK

TUVIA MILSTEIN PRESIDENT & CEO MINIMAL

16027 VENTURA BLVD., #550
ENCINO, CA, 91436

CONTRIBS TO EXPENSE ACCT

COMPENSATION BENFT PLANS & 0TH ALLOWS

0 0 0

NAME AND ADDRESS TITLE HRS/WEEK

GILA MILSTEIN SECRETARY MINIMAL

16027 VENTURA BLVD., #550
ENCINO, CA, 91436

CONTRIBS TO EXPENSE ACCT

COMPENSATION BENFT PLANS & 0TH ALLOWS

0 0 0

FORM 990-PF PART I - ACCOUNTING FEES SCHEDULE 2

BOOK NET INVES ADJUSTED CHARITBL

ACCOUNTING FEES REVENUE INCOME NET INCOME PURPOSES

BARAK, RICHTER AND DROR 900. 0. o. 900.

TOTAL 900. 0. 0. 900.

FORM 990-PF PART I - TAXES SCHEDULE 3

II 11

BOOK NET INVES ADJUSTED CHARITBL

TAXES REVENUE INCOME NET INCOME PURPOSES

2002 TAXES 803. 803. 803. 803.

2003 TAXES 2350. 2350. 2350. 2350.

TOTAL 3153. 3153. 3153. 3153.

3ATTSC 00 05/14/0 I
 18
Federal Attachments 2003
Nome(s)es shown on relurn lden11l1callonNumber

rHE MILSTEIN FAMILY FOUNDATION 95-4824595

FORM 990-PF PART I - CONTRIBUTIONS, GIFTS, GRANTS, ETC. SCHEDULE 4

(NOT OPEN FOR PUBLIC INSPECTION)

CONTRIBUTION

CASH CONTRIBUTION:

CONTRIBUTOR NAME: TUVIA & GILA MILSTEIN

CONTRIBUTOR ADDR: 16027 VENTURA BLVD #550
ENCINO, CA 91436 1051000

CASH CONTRIBUTION:

CONTRIBUTOR NAME: MERAV MILSTEIN

CONTRIBUTOR ADDR: 16027 VENTURA BLVD #550
ENCINO, CA 91436 70000

CASH CONTRIBUTION:

CONTRIBUTOR NAME: LYRON MILSTEIN

CONTRIBUTOR ADDR: 16027 VENTURA BLVD #550
ENCINO, CA 91436 70000

CASH CONTRIBUTION:

CONTRIBUTOR NAME: NATALIE MILSTEIN

CONTRIBUTOR ADDR: 16027 VENTURA BLVD., #550
ENCINO, CA 91436 70000

CASH CONTRIBUTION:

CONTRIBUTOR NAME: PACIFIC WEST MANAGEMENT,LLC

CONTRIBUTOR ADDR: 16027 VENTURA BLVD., #550
ENCINO, CA 91436 639000

TOTAL TO FORM 990PF PART I, LINE lA 1900000

FORM 990-PF PART I - OTHER EXPENSES SCHEDULE 5

BOOK NET INVES ADJUSTED CHARITBL

DESCRIPTION REVENUE INCOME NET INCOME PURPOSES

ADMINISTRATIVE EXPENSES 984. 984. 984. 984.

TOTAL ro FORM 990PF PART I, LINE 23 984. 984. 984. 984.

3ATTSC 00 0&/ 14/0 I

 19
Federal Attachments 2003
Name(s)es shown on return ldentlf,cetlon Number

rHE MILSTEIN FAMILY FOUNDATION 95-4824595

FORM 990-PF PART XV - OVER $5,000 AND OVER 2% CONTRIBUTOR SCHEDULE 6

NAMES OF FOUNDATION MANAGERS:

TUVIA MILSTEIN
GILA MILSTEIN

3ATTSC 00 05/ 14/01

 20
Federal Attachments 2003
Name(s)as shown on relurn lden1ilica11onNumber

rHE MILSTEIN FAMILY FOUNDATION 95-4824595

FORM 990-PF PART XV - GRANTS AND CONTRIBUTIONS PAID DURING YEAR SCHEDULE 7

AMOUNT

RECIPIENT NAME: MESIVTA OF GREATER LOS ANGELES

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNT PAID 5000.

RECIPIENT NAME: ASHREINU - JEWISH ED NETWORK

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNT PAID 5000.

RECIPIENT NAME: FRIENDS OF THE IDF

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNT PAID 1000.

RECIPIENT NAME: CHILDREN'S HOSPITAL OF LA

STREET ADDRESS:
CITY, S'rATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNT PAID 1000.

RECIPIENT NAME: CHABAD ISRAEL HOUSE

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

3ATTSC 00 0S/14/0 I
 21
Federal Attachments 2003
Neme(s)es shown on return ldenl1flcelion Number

THE MILSTEIN FAMILY FOUNDATION 95-4824595

FORM 990-PF PART XV - GRANTS AND CONTRIBUTIONS PAID DURING YEAR CONTINUE 7

AMOUNT

GENERAL USE

AMOUNT PAID 16000.

RECIPIENT NAME: PEYLIM LEV L'ACHIM

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNT PAID 10000.

RECIPIENT NAME: AISH HA TORAH

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNT PAID 28000.

RECIPIENT NAME: JEWISH HEALTHCARE FOUNDATION

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNT PAID 5000.

RECIPIENT NAME: EZER MIZION

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNT PAID 5000.

RECIPIENT NAME: ANGEL CARE

3ATTSC 00 05/ 14/01
 22
Federal Attachments 2003
Nome(s)as shown on return Identification Number

rHE MILSTEIN FAMILY FOUNDATION 95-4824595

FORM 990-PF PART XV - GRANTS AND CONTRIBUTIONS PAID DURING YEAR CONTINUE 7

AMOUNT

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNTPAID 1500.

RECIPIENT NAME: BAYIT LEPLETOT

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNTPAID 10000.

RECIPIENT NAME: TZEDAKA FUND

STREET ADDRESS:
CITY, STATE, ZIP CODE: LOS ANGELES, CA

PURPOSE OF GRANT OR CONTRIBUTION:

GENERAL USE

AMOUNTPAID 1800.

TOTAL GRANTS & CONTRIBUTIONS PAID DURING THE YEAR 89300.

FEDERAL TAX DEPOSITS SCHEDULE 8 II

II
DATE AMOUNT DATE AMOUNT

01/15/04 2,350

3ATTSC 00 0&/14/0 I
 13

Form 2220 Underpayment of Estimated Tax by Corporations _o_Ms_N_o._,s4_s-_o,_42_

Depanment ol theTreasury
InternalRevenueService
~ See separateinstructions.
~ Attach to the corporation'stax return.
2003
Name Employer
ldenlillcatlon
number
THE MILSTEIN FAMILY FOUNDATION 95-4824595
Note: In most cases,the corporation does not needto file Form 2220. (SeePart I below for exceptions.)The IRSwill figure any penalty
owed andbill the corporation.If the corporationdoesnot needto file Form 2220, It may still use It to figure the penalty.Enter the
amountfrom lme 36 on the estimated tax penalty lme of the corporation'sincometax return, but do not attachForm 2220.

t1;ill ReasonsFor Filing- Checkthe boxes below that apply. If any boxes are checked,the corporationmust
file Form 2220, even if It doesnot owe the penalty. If the box on line 1 or lme 2 applies,the corporationmay be able to
lower or eliminate the penalty.

1 D The corporationIs usingthe ad1ustedseasonalinstallmentmethod.

2 D The corporationIs usingthe annualizedincomeinstallmentmethod.
3 D The corporationIs a "large corporation" figuring its first required installmentbasedon the prior year's tax.

1:1,1:11 Figuring the Underpayment

4 Total tax (see instructions) 4 3.509.

Sa Personalholdingcompanytax (SchedulePH(Form 1120), lme 26) includedon line 4. Sa

b Look-back interest includedon line 4 under section 460(b)(2)for completedlong-term
contracts or section 167(g)for deprec1at1on
under the incomeforecast method Sb

C Credit for Federaltax paidon fuels (see instructions) Sc

d Total. Add Imes Sathrough Sc 5d
6 Subtractline 5d from lme 4. If the result Is less than $500, do not completeor file this form.
The corporationdoesnot owe the penalty 6 3.509.
7 Enter the tax shownon the corporation's2002 incometax 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 amountfrom line 6 on line 8 7 2 303.

8 Enter the smallerof line 6 or lme 7. If the corporationIs required to skip lme 7, enter the amountfrom line 6 8 2.303.
9 Installmentduedates. Enter m columns(a)through (a) (b) (c) (d) (el
(d) the 15th day of the 4th (Form990-PF filers:
Use5th month),6th, 9th, and 12th monthsof the
corporation'stax year 9 02/16/04 03/15/04 06/15/04 09/15/04 10/01/04
Exception.If one of your installmentdue dates Is
September15, 2003, or September15, 2004,
see the instructions.
10 Requiredinstallments.If the box on line 1 and/or
line 2 aboveIs checked,enter the amountsfrom
ScheduleA, lme 38. If the box on lme 3 (but not 1
or 2) Is checked,see instructions for the amounts
to 1mter.If noneof these boxes are checked,
enter 25% of line 8 abovem eachcolumn 10 576 576 575 461 115
11 Estimatedtax paidor credited for eachperiod (see
instructions). For column(a)only, enter the amount
from lme 11 on line 15 11 2350
Completelines 12 through18 of one column
before goingto the next column.
12 Enluramount,
II any,lromline 18of thepreceding
column 12 1774 1198 623 162
13 Add Imes 11 and 12 13 1774 1198 623 162
14 Add amountson Imes 16 and 17 of thepreceding column 14
15 Subtractline 14 from Ime 13. If zeroor less,enter-o- 15 2350 1774 1198 623 162
16 If the amounton lme 15 Is zero, subtract line 13 from
lme 14. Otherwise, enter -0- 16
17 UnderpaymentIf lme 15 Is less than or equalto line
10. subtract lme 15 from lme 10. Thengo to lme 12
of the next column.Otherwise,go to line 18 17
18 Overpayment.If lme 10 Is less than lme 15, subtract
lme 10 from lme 15. Thengo10line 12of thenextcolumn 18 623 162
1774 1198
CompletePart Ill on page2 to figure the penalty. If there are no entries on line 17, no penalty is owed.
For PaperworkReductionAct Notice, see separateinstructions. Form 2220 (2003)
322201 OIF 12/10/03
 14
Form 2220 (2003) Page 2
ldliil Figuring the Penalty
19 Enter the date of paymentor the 15th dayof the 3rd (al (bl (cl (di (el
monthafter the close of the tax year, whichever is earlier
(see mstructlonsl.(Form990-PF andForm990-T filers:
Use5th monthinsteadof 3rd month.) 19
20 Numberof daysfrom due date of installmenton lme 9
to the date shownon Ime 19 20
21 Numberof dayson lme 20 after 4/15/2003 andbefore
10/1/2003 21

22 Underpaymenton lme 17 x Numberof dayson lme 21 x 5% 22 $ $ $ $ $

365
23 Numberof days on line 20 after 9/30/2003 and before 1/1/2004 23

24 Underpaymenton line 17 x Numberof dayson lme 23 x 4% 24 $ $ $ $ $

365
25 Numberof days on line 20 afler 12/31/2003 and before 4/1/2004 25

26 Underpaymenton lme 17 x Numberof dayson lme 25 x 4% 26 S s s s $

366
27 Numberof days on line 20 aller 3/31/2004 and before 7/1/2004 27

28 Underpaymenton lme 17 x Numberof dayson lme 27 x *% 28 $ $ $ $ $

366
29 Numberof days on line 20 all er 6/30/2004 and before 10/1/2004 29

30 Underpaymenton lme 17 x Numberof dayson lme 29 x * /o

0 30 $ $ $ $ $
366
31 Numberof days on line 20 aller 9/30/2004 and before 1/1/2005 31

32 Underpaymenton lme 17 x Numberof dayson lme 31 x *% 32 $ $ $ $ $

366
33 Numberof days on line 20 aller 12/31/2004 and before 2/16/2005 33 $ $ $ $ $

34 Underpaymenton lme 17 x Numberof dayson line 33 x *% 34 $ $ $ $ $

365
35 Add Imes 22, 24, 26, 28, 30, 32, and34 35 $ $ $ $ $

36 Penalty. Add columns(al through(el, of lme 35. Enter the total here andon Form 1120, lme 33; Form 1120-A, line 29;
or the comparableline for other incometax returns 36 $ 0.
* For underpayments paidafter March31, 2004: For Imes 28, 30, 32, and34, use the penaltyinterest rate for eachcalendarquarter,which the IRSwill determineduring
the first month m the precedingquarter. Theserates are publishedquarterly in an IRSNews Releaseandma revenueruling m the InternalRevenueBulletin. To obtain
this information on the Internet, accessthe IRSwebsite at www.irs.gov.Youcanalso call 1-800-829-1040 to get interest rate information.
DATE DUE PAYMENTBALANCE DAYS RATE PENALTY Form2220 (20031

9/30/03 0 0 0 93 4 0
1/01/04 0 0 0 14 4 0
1/15/04 0 2350 2350- 32 4 0
2/16/04 576 0 1774- 28 4 0
3/15/04 576 0 1198- 16 4 0
3/31/04 0 0 1198- 76 5 0
6/15/04 575 0 623- 92 5 0
9/15/04 461 0 162- 16 5 0
10/01/04 115 0 47- 107 5 0
1/16/05 0 0 0 0 0 0

TOTAL 0

322202 01F 12/ 10/03

 Account Number: 0BP-003930
Accqu_nt Name: MILSTEIN
UBOC
Statement Date: 09/01/2004 to 09/30/2004 INVESTMENT
SERVICES,INC.a
Celebrating20 Yearc:1

Customers should consult with their tax advisors for further information.

DETAIL
;E;;~~~i;~~;:~~~~-~~~~;t~:Ei2;:~-:~
\~~1JQ_l11i~;f:;~~::::i~~;;t~;:~-~~~;'.;~~~:i::ij~;~'G'.~:~~--:j4~~~~~~
NFS determines the appropnate cost basis method for calculating gain and loss based on pos1t1ons held at the tame of sale For open-end mutual funds, NFS determines cost basis using the
average cost-single category (ACSC) method unless otherwise instructed For all other secunt1es, NFS determines cost basis using the first-an, first-out (FIFO) method 1f NFS does not receive
appropnate specific share instructions NFS determines cost basis using the specific share 1denllficahon method 1f NFS receives appropnate specific share 1nstruct1ons; however, such cost
basis 1nforrnat1on may not correspond to a customer's cost basis information records 1f a customer used the specific share 1dent1ficat1on method pnor lo the tame that such method track.mg was
made available by NFS. Cost basis, associated gain and loss, and holding penod mforrnallon reported may not reflect all ad1ustments necessary for tax reporting purposes Cost basis
information for debt secunhes has not been adJusted for amonizauon or accrehon.

Secunt1es available through UBOC Investment Services, Inc. Unless they are certificate.; of d~pos1t within applicable insurance limits. are not bank deposits; are not obligations of, or
guaranteed by, UBOC lnwstment SeMces, Inc., any bank. or anx subs1d1ary or affiliate thereof, are not insured or guaranteed by the FDIC or, unless they are government secunues, by any
other gO\ll!mmenl agency; involw mwstment nsk. including the,poss1ble loss of pnnc1pal.

CASH AND CASH EQUIVALENTS 3.31 %

Symbol/Cus1p Pnce on Current Pnor Estimated
Descnot,on AccountT~ OuanllJ:l 09/30/04 Market Val_ue Market Value Annual Income
Money Markets
HIGHMARK DIVERSIFIEDMMKTCLA HMVXX 104,403.71 $1.00 Sl04,403.71 $323,113.21 S401.25
7DAYAVGNETYIB.D.99% CASH
Estunated
Yield 0.38%
DividendOptionReinvest
CapitalGainOptionReinvest
Total Cash and Cash .Equivalcnu $104.403.71 $401.25

EQUITIES 3.85%
Symbol/Cu sip Pnce on Currant Pnor Estimated Total Unrealized
Descnet1on Account T:i:2! guanh!:z'. 09/30/04 Market Value Market Value Annual Income Cost Basis Ga,n (Loss}
< I
.Equity

Page 4of, 11 lJBOC INVESTMENTSERVICES,INC. Accountcamcd with National Financi.tlServicesLLC, Member NYSE,SIPC
.. 040930 280 007248718~
 II
Account Number: 0BP-003930
Account Name: MILSTEIN
UBOC
Statement Date: 09/01/2004 to 09/30/2004 INVESTMENT
SERVICES, INC.e
Celebrating20 Yeara

EQUITIES 3.85%
Symbol/Cusip Pnce on Current Pnor Estimated Total Unrealized
Descn.e.t1on AccountT2 ~ 09/30/04 MarketValue MarketValue Annual Income Cost Basis Ga,n(Loss)
AIM SELECT REALESTATE INCOME ARE 2,000 $16.18 $32,360.00 $32,720.00 $2,472.00 $27,037.20 $5,322.80
FUND CASH
Estimated
Yield 7 63%
DividendOptionCash
CapitalGamOptionCash
NextDividendPayable.10/29/04
BACCAPITAL TRI CAPSECS PFD7% BACPRW 2,000 $26.15 $52,300.00 S53,140.00 $3,500.00
12/15/2031 CASH
CALLABLE 12/15/2005@ 250000
EstimatedYield 6 69%
MORGAN STANLEY EMERGING MKTSDEB MSD 4,000 $9.16 $36,640.00 $36,360.00 $3245.60 $31,157.20 $5,482.80
FDINC CASH
EstimatedYield 8.85%
DividendDpuonCash
CapitalGainOptionCash
Next01V1dend Payable.
10/15/04
Total Eciuicy $121,300.00 $9,217.60 $58,194.40 $10,805.60
Total Equities $121,300.00 $9,217.60 $58.194.40 ,/, $10,805.60

FIXED INCOME 13.46%

For an explanationof fixed incomepncing, please see the last page Redemption schedule(s), bond rating(s), and other information are proVJded where available If 1nformat10n does not
appear regarding a particularinvestment,111snot available. The ratings on this statement are prOVJdedby Standard &. Poor's and/or Moody's to rate the quality based on the respective
rating agency's assessment. Estimated Estimated
Symbol/Cusip Pnce on Current EstimatedPnor Estimated Total U1,. ~nzed
Descnpt,on AccountType guanllty 09/30/04 MarketValue MarketValue Annual Income Cost Basis Gain (Loss)
Corporate Bonds
ISRAELSTSBD-AJUBILEE 6200% 465138W35 100,000 $100.00 $100,000.00 $100,000.00
06/01/2006 CASH
MOODY'S A2/S&PA REG
CPNPMTSEMI-ANNUAL
ON"DEC01,JUN01
NextInterestPayable.12/01/04
ISRAELSTSBD-A3JUBILEE 5.600% 46513EAC6 100,000 S10000 s100,ooo.oo Sl00,00000
05/01/2007 CASH
MOODY'S A2/S&PA- B/E
CPNPMTSEMI-ANNUAL
NextInterestPayable.
11/01/04

)age 5 ot 11 UBOC INVESTMENTSERVICES,INC. Account carried with National Financial ServicesLLC, Member NYSE, SIPC
l40930 280 007248718 ,
 Account Number: OBP-003930
Account Name: MILSTEIN
UBOC
Statement Date: 09/01/2004 to 09/30/2004 INVESTMENT
SERVICES,INC.e
Celebrating20 Year.1

FIXEDINCOME 13.46%
For an explanation of fixed income pncmg, please see the last page. Redemption schedule(s), bond rating(s), and other information are provided where available. If 1nformataon does not
appear regarding a particular investment, it is not available The ratings on this statement are provided by Standard &. Poor's and/or Moody's to rate the quality based on the respective
rating agency's assessment Estimated Estimated
Symbol/Cu sip Pnce on Current Estimated Pnor Estimated Total Unrealized
Descnetion AccountT:t.ee guanll!Y 09/30/04 Market Value Market Value Annual Income Cost Basis G. ~
ISRAELSTS80 3RDJUBILEE ISSUE 46513ECG5 100,000 S99.982 S99,982
00 S99,985.00
SERA 4.50%05/01/2008 CASH
MOODY'S A2/S&PA-REG
CPNPMTSEMI-ANNUAL
NextInterestPayable.
11/01/04
ISRAEL STS SVSBO8THINFRA & 46513EFK3 216,000 $57527 $124,258.32 $123,616.80
0 000%04/01/2014ABSORPTION CASH
MOODY'S A:2.
/S&PA-8/E
CPNPMT@MATURITY
Total Corporate Bonds 516,000 $424,240.32
Total Fixed Income :i16.000 $424,240.32
\

MUTUAL FUNDS 79.38%

Symbol/Cu sip Pnce on Current Pnor Estimated Total Unreallzec
Descnet1on Account T::z::ee guanh!::z:: 09/30/04 Market Value Market Value Annual Income Cost Basis Gain {Loss
Equity
BARON SMALLCAPFD BSCFX 15,461.851 $19.18 $296,558.30 $93,533.83 $300,000
00 I I $3,441.70
DividendOptionReinvest CASH
CapitalGainOpuonReinvest
DODGE & COXBALANCE DODBX 4,071.686 $7515 $305,987.20 $300.273
54 $6,351.83 $304,334
69 / S1 ~c;251
EstimatedYield 2.07% CASH
DividendOptionReinvest
CapitalGainOptionReinvest
DODGE &COXSTOCK DODGX 2,582.636 $118.93 $307,152.90 $298,393.59 $3,809.39 1
$303,282.69 $3,870.21
EstimatedYield 1.24% CASH
Div1aendOptionReinvest
CapitalGainOptionReinvest I
GABELLIASSET FUND GABAX 8,047.746 $37.42 $301,146.66 $293,581.77 S249.48 $300,02500 Sl,121.66
I- EstimatedYield 0.08% CASH
DividendOpttonReinvest
. 'i CapitalGainOptionReinvest
i
l
I Total Equity $1.210.845.06 $10.410.70 $1,207.642.38 $3,202.68
I
Fixed Income

I :page 6 of.11 UBOC INVESTMENT SERVICES,INC. Accowit carriedwith National FinancialServicesLLC, Member NYSE,SIPC
040930 280 007248718
 11
Account Number: 0BP-003930
Account Name: MILSTEIN
usoc
Statement Date: 09/01/2004 to 09/30/2004 INVESTMENT
SERVICES,INC.ti
Celebrating20 Yeart1

MUTUAL FUNDS 79.38%

Symbol/Cu sip Pnce on Current Prior Estimated Tot.al Unrealized
Descn.e.11on Account T:i11.e 0uantIJ:i_ 09/30/04 Market Value Market Value Annual Income Cost Basis Gain (Loss)
DODGE & COXINCOME DODIX 47,389.17 $12.80 $606,581.38 $604,255.72 $27,011.83
Esumated Yield 4 45% CASH
DividendOptionReinvest
CapitalGainOptionReinvest
VANGUARD GNMAADMIRAL VFIJX 45,923.101 $10.43 $478,977.94 $478.458
85 S22.725
41 $479,824.28
) ( $846.34I
EstimatedYield 4.74% CASH
DividendOptionReinvest
CapitalGainOptionReinvest
VANGUARD SHORTTERM FEDERAL VSGDX 19,540.338 $1049 $204,978.15 $205,062.89 $5,832.58 $205.381.86 l
( S403.71
ADMIRAL CASH
Esamated Yield 2.84%
DividendOptionReinvest
CapitalGainOptionReinvest
Total Fixed Income $1,290,537.47 $55,569.82 $685,206.14 I $1,250.05l
Tota.fMutual Funds $2,501,382.53 $65,980.52 $1,892,848.52 $1,952.63

Total Securities ;3,046,922.85 $75,198.12 $1,951.04292 $12,758.23

TOTAL PORTFOLIO VALUE ;3,151,326.56 $75,599.37 $1.951,04292 $12 ,~q 23

AC~9.~.i~;;_t~'.~I:;:~;;:_:::;::::~-\:~i~;-;;:.~?:-:~;:~--;i:~~~:=~-~~~:~t~;;=~~=~-;-~~~~l'.:
{-.-::~:~=::'>:_:=:~-,:
___
---=-=.--.
NFS determines the appropriate cost basis method for calculating gain and loss based on posItIons held at the time of sale For open-end mutual funds, NFS determines cost basis using the
average cost-single category (ACSC) method unless otherwise instructed. For all other secunues. NFS determines cost basis using the first-in, first-out (FIFO) method 1f NFS does not receive
appropriate specific share instl'\Jctions NFS determines cost basis using the specific shara 1dent1ficat1onmethod 1f NFS raceIves appropriate specific share instructions. however. such cost
. basis information may not correspond to a customer's cost basis informalIon records 1f a customer used the specific share 1denllf1cat1on method pnor to the hme Iha! such method tracking was
, made available by NFS Cost basis. associated gain and loss, and holding penod information reported may not reflect all ad1ustmen!s necessary for tax reporting purposes Cost basis
information for debt securities has not been adJusted for amortIzatIon or accretion

TRADING

Page 7 of 11 UBOC INVESI"MENTSERVICES,INC. Account carried with National Financial ServicesLLC, Member NYSE,SIPC
040930 280 007248718,
 IWR.m
lnvcslrnenl Securil1es
ML Stern & Co., Corporate Headquarters
8350 \Vd~hirc Boulevard, Beverly Hills, CA 902 I I (323) 658-4400 or (800) 765-2200 www.m ls tc rn .com
....~.,
1'~~
o,.. .:rooo.
c-o,.._v..._
.....
,c:,.,.
.>

Account Number For the Period Page I MILSTEIN FAMILY FOUNDATION

55786926 09/01/2004 to 09/30/2004 4 of 10 I Account Executive: EZRA SASSON

INVESTMENTS First Average Estimated Estimated % of Estimated

Entire
Stm~ol/ Purchase Purchase Market Market Annual
-
=
...- --
Description USIP Date Quantity Price Price Value Portfolio Income*
-----
MONEYMARKETFUNDS
- -- - - - -------- --~

-
=
=- ""=

SHORTTERMINCFUNDMMCL.A (7-D/WYIELD)0.70% 43,586.900 1.000 $43,586.90 6.23 --=

MUNICIPALBONDS -
=
--
=
CASHACCOUNT - TYPE01
KERNCNTYCALIFPENSION
CAPAPPREC- BOOKENTRY
OBLIG 492279AS3 08/01/02 40,000 33.933 44.474 $17,789.60 2.54 NotAvailable
--
0%08/15/19
AAAI Aaa -
=
KERNCt-:!TY
CALIFPENSION
OBLIG 492279AT1 06/25/04 50,000 35.649 41.857 $20,928.50 2.99 NotAvailable
CAPAPPREC- BOOKENTRYMBIAIN ~
0%08/15/20
MA/ Aaa
LOSBANOSCALIFREDEVAGYTAA 545413BS4 07/30/04 25,000 100.000 104.045 $26,011.25 3.72 $1.812.50
REOEV PJ ESCROW BOOKENTRY
7.25%09/01/24
BBB/ Baa3/ FitchN/A
RIVERISLANDSPUBFINGAUTHCA 76827OBS1 05/25/04 60,000 101.362 98.227 $58,936.20 8.43 $4,650.00
TAACMNTYFAGSDIST03-1-CREG
7.75%09/01/11
N/R/ N/R
'
TOTAL-MUNlaPA~BONDS 175,000.000 $123,665.55 $6,462.50

NASD THIS STATEMENT SHALL BE CONSIDERED FINAL AS TO ALL SECURITIES POSITIONS, SECURITIES MOVEMENTS. MONEY RECEIVED, DISBURSED OR JOURNAL ENTRIES
UNLESS YO~ REPORT ANY DISCREPANCY IN WRITING TO THE BRANCH MANAGER WITHIN 10 DAYS AFTER RECEIPT
Sf'1>c
 Account Number For the Period Page I MILSTEIN FAMIL y FOUNDATION
55786926 09/01/2004 to 09/30/2004 5 of 10 I Account Executive: EZRA SASSON

INVESTMENTS - (Contmued) First Average Estimated Estimated %of Estimated

s m~ol/ Purchase Purchase Market Market Entire Annual
Description 6 us,p Date Quantity Price Price Value Portfolio Income*

CORPORATE-BONDS
CASHACCOUNT - TYPE01
ANHEUSER BUSCHCOSINC 035229CT8 05/06/04 20,000, 92.000 96.164 $19,232.80 2.75 $1.070.00
INTEREST PAYSQUARTERLY
5.35%05/15/23
A+ / A1

HOUSEHOLD FINANCE
CORP 441812GDO 11/26/02 50,000 100.000 110.036 $55,018.00 7.87 $3,250.00
NOTESBOOKENTRY
6.5%11/15/08
A I A1
HOUSEHOLD FINANCE
CORP 44181ELL0 09/16/02
'\ 25,000 100.000 100.330 $25,082.50 3.59 $1,850.00
SENIOR NOTESBOOKENTRY
7.4%09/15/12
A I A1
TOTAL-CORPORATE
BONDS 95,000.000 $99,333.30 $6,170.00
MORTGAGE
BACKED
CASHACCOUNT - TYPE01
FEDERAL NATLMTGASSNREMICPA 31393A4V6 04/14/04 - 15,000 .. 94.351 99.708 $1,017.78 0.15 $56.14
CTFSGTDSER2003-43CLTX BOO
5.5%05/25/33.
PRINCIPALREMAINING$1,020.76
FEDERAL NATLMTGASSNREMICPA 31393B5L5 07/21/03 150,000 82.377 100.045 $8,718.54 1.25 $479.30
CTFSGTDSER2003-50CLD BOOK
.' 5.5%06/25/33
. PRINCIPALREMAINING
$8.714.63
 IWR.
Investment Securitaes
ML Stern & Co., Corporate Headquarlers
8350 Wilshire Boulevard, Heverly Hills, CA 90211 (323) 658-4400 or (800) 765-2200 www.mlstern.co m
- ..
-~
o.,.
~
-=l'ooo.
~0"'1MU .... ,
.....
~
>:
e,.,..

Apc_ount Number
55786926
For the Period
09/01/2004 to 09/30/2004
Page
6 of 10
b MILSTEIN FAMILY FOUNDATION
unt Executive: EZRA SASSON

INVESTMENTS (Continued)
First Average Estimated Estimated % of Estimated
s m~ol/ Purchase Purchase Market Market Entire Annual
Description 6 usIp Date Quantity Price Price Value Portfolio Income*
FEDERAL HMLNMTGCORPMULTICL 31393NCP2 10/16/03 50,000 98.729 100.368 $14,936.98 2.14 $818.52
CTFSGTDSER2587CLTXBOOKE = -=.

--
i -
5.5%03/15/33 ~
PRINCIPALREMAINING$14.882.22
$2,501.10 _
FFDERALHMLNMTGCORPMULTICL
CTFSGTDSER2617CLCBBOOKE
31393R4W7 09/17/03 110,000 97.951 99.956 $45,454.67 6.50
~--
5.5%05/15/20
PRINCIPAL
-
REMAINING$45.474.68 ~ -
FEDERAL HMLNMTGCORPMULTICA 31394J2J5 10/08/03' 85,000 78.614 99.721 $31,103.27 4.45 $1.715.46 _ -
CTFSSER2576CLBGBOOKENTRY
5.5%12/15/32
PRINCIPALREMAININGS31.190.30 i..
TOTAL-MORTGAGE
BACKED '~10,000.000 $101,231.24 $5,570.52
AGENCIES
CASHACCOUNT- TYPE01
FEDERAL HMLNBANK 3133MUU45 07/13/04 70,000 99.000 101.219 $70,853.30 10.13 $3,850.00 ,
BOOKENTRY
5.5%01/09/18
AAA/ Aaa
TOTAL- AGENCIES 70.000.000 $70,853.30 $3,850.00
MUTUALFUNDS . '
CASHACCOUNT- TYPE01
COWMBIAFLOATING RATE XLACX 05/07/04 21,619.388 12.027 12.060 $260,729.81 37.26 $12,777.05
...A.DVANTAGE
FDCLC
TOTAL-MUTUALFUNDS 21.619.390 $260,729.81 $12,777.05

NASD
Si1c.
THIS STATEMENT SHALL BE CONSIDERED FINAL AS TO ALL SECURITIES POSITIONS, SECURITIES MOVEMENTS, MONEY RECEIVED, DISBURSED OR JOURNAL ENTRIES
UNLESS YOU REPORT ANY DISCREPANCY IN WRITING TO THE BRANCH MANAGER WITHIN 10 DAYS AFTER RECEIPT 1