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Form 99Q•PF Return of Private Foundation

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Form 99Q•PF Return of Private Foundation OMB No 1545-0052 Form 99Q•PF Return of Private Foundation or Section 4947 (a)(1) Nonexempt Charitable Trust Private Department of the Treasury Treated as a Foundation 2007 Internal Revenue Service Note The foundation maybe able to use a copy of this return to satisfy state reporting requirements For calendar year 2007 , or tax year beginning JULY 1 , 2007, and ending JUNE 30 , 2008 G Check all that apply. n Initial return n Final return n Amended return n Address change n Name chance Use the IRS Name of foundation A Employer identification number label. THE HAROLD & BLANCHE SCHECHTER FOUNDATION, INC. 11-3494145 Otherwise, Number and street (or P 0 box number if mail is not delivered to street address) Room/suite B Telephone number ( see page 10 of the instructions print or type. 2600 NOSTRAND AVE. City or town , state , and ZIP code See Specific C If exemption application is pending , check here q Instructions . ► BROOKLYN, NY 11210 q D 1. Foreign organizations , check here ... ► H Check type of organization : Section 501(c)(3) exempt private foundation 2. Foreign organizations meeting the 85% test, q q Section 4947( a)(1) nonexempt chantable trust q Other taxable private foundation check here and attach computation .. ► E If private foundation status was terminated I Fair market value of all assets at end J Accounting method : [] Cash El Accrual q under section 507(bx1)(A), check here... ► year (from Part ll, col. (c), of q Other ( specify ) --------------------------------------------- F If the foundation is in a 60-month termination q line 16) ► $ 1, 305, 415. (Part 1, column (d) must be on cash basts under section 507(b )( 1)(B), check here... ► Part I Analysis of Revenue and Expenses (The total of (a) Revenue and (d ) Disbursements (b) Net investment (c) Adjusted net amounts in columns (b), (c), and (d) may not necessanly equal expenses per for charitable income income purposes books the amounts in column (a) (see page 11 of the instructions)) (cash basis only) I Contributions , gifts, grants , etc , received ( attach schedule) 729, 984 2 Check if the foundation is not required to attach Sch B 3 Interest on savings and temporary cash investments 16, 532. 16, 532. 4 Dividends and interest from securities 49,242. 49, 242. 5a Gross rents ................................... b Net rental income or (loss) 6a Net gain or (loss ) from sale of assets not on line 10 (1,110.) d b Gross sales price for all assets on line 6a 115, 222 . > 7 Capital gain net income (from Part IV, line 2 )..... 43, 480. m 8 Net short-term capital gain .................... 9 Income modifications ............ .... ....... 10a Gross sales less returns and allowances b Less : Cost of goods sold ..... c Gross profit or ( loss) ( attach schedule ) 0 . 0 . 11 Other income (attach schedule) ................ 36, 465. 35. Na 12 Total . Add lines 1 throu gh 11 . ................ 831, 113. 109, 289. 0. cm O 13 Compensation of officers , directors , trustees , etc co to w 14 Other employee salaries and wages ............ C w 15 Pension plans, employee benefits .... ........ x 16a Legal fees ( attach schedule ) ................... y b Accounting fees ( attach schedule) .............. 7,250. 3, 625. 3, 615 . Cs2 c Other professional fees (attach schedule) .. U 17 Interest ....................................... M y 18 Taxes (attach schedule) (see page 14 of the instructions) . .. 4,000. '£ 19 Depreciation (attach schedule ) and depletion .... E)GE)Elq 20 Occupancy ................................... -4 .a 21 Travel , conferences, and meetings ............. - 22 Punting and publications ...................... c 23 Other expenses attach schedule ) 172. 86. 86. 24 Total operating and administrative expenses. W Add lines 13 through 23 ....................... 11, 422. 3,711. 0. 3,711. r 25 Contributions, gifts, grants paid ................ 465, 542. 465, 542. 26 Total ex enses and disbursements . Add lines 24 and 25 476, 964 . 3,711. 0. 469,253. 27 Subtract line 26 from line 12: a Excess of revenue over expenses and disbursements 354, 149. b Net investment income ( if negative , enter -0-) 105,578. c Adjusted net income ( if negative , enter -0-) .... For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions . Form 990-PF (2007) BKA WK7T FD6591-001 4 ^^ A q ^^ Form 990-PF (2007) Page 2 Attached schedules and amounts in the descnphon column Beginning of year End of year Part II Balance Sheets should be for end-of-year amounts only (See instructions) (a) Book Value (b) Book Value (c) Fair Market Value •1 Cash-non-interest-beanng .............................. 162, 038. 166, 971. 166, 971. 2 Savings and temporary cash investments ................. 508, 319. 340, 408. 340, 408. 3 Accounts receivable ------------------------------------------------------------------- ► 0 . Less: allowance for doubtful accounts ► ---------------------- --------- 4 Pledges receivable ► ---------------------------------------------------------------------- Less: allowance for doubtful accounts ► __________________________________ 0. 5 Grants receivable ........ .... ... ........ .. 6 Receivables due from officers, directors, trustees, and other disqualified persons (attach schedule) (see the instructions) ..... 7 Other notes and loans receivable (attach schedule) ► ----------------------------- 0. Less- allowance for doubtful accounts ► --------------------------------------- ------ to 8 Inventories for sale or use ............................... 9 Prepaid expenses and deferred charges .................. 10a Investments-U S and state government obligations (attach schedule) b Investments-corporate stock (attach schedule) ....... .. 637, 697. 1, 148, 687. 780, 614.00 c Investments-corporate bonds (attach schedule) .......... 11 Investments-land, buildings, and equipment basis _ - _ _ _ Less- accumulated depreciation (attach schedule) ► _______________________________ 0. 12 Investments-mortgage loans ........................... 13 Investments-other (attach schedule) . ... .. ............ 11,285. 17, 422. 17,422. 14 Land, buildings, and equipment. basis ► -----------------------------_---------- -- - - - - - - - --- - Less accumulated depreciation (attach schedule) ► ------------------------------------ 0 Other (descnbe 15 assets ► -------------------------------------------------------------- 16 Total assets (to be completed by all filers-see the instructions. Also, see page 1, item 1) ...................... 1, 319, 339. 1, 673, 488. 1, 305, 415. 17 Accounts payable and accrued expenses .... .... ....... 18 Grants payable ...................... ................... d 19 Deferred revenue ........................................ 20 Loans from officers, directors, trustees, and other disqualified persons 21 Mortgages and other notes payable (attach schedule) ..... 20 22 Other liabilities (describe ) 23 Total liabilities (add lines 17 throug h 22 ) ................. 0. 0. CDN Foundations that follow SFAS 117, check here ► and complete lines 24 through 26 and lines 30 and 31. 24 Unrestricted ....... 25 Temporarily restricted ...................... ... .... 26 Permanently restricted ................................... LLLL Foundations that do not follow SFAS 117, check here 10, and complete lines 27 through 31. 27 Capital stock, trust pnncipal, or current funds ............. 1, 319, 339. 1, 673, 488. 28 Paid-in or capital surplus, or land, bldg , and equipment fund u) 29 Retained earnings, accumulated income, endowment, or other funds 30 Total net assets or fund balances (see page 17 of the Z instructions) ............................................. 1, 319, 339. 1, 673, 488. 31 Total liabilities and net assetslfund balances (see page 17 of the instructions) ......................................... 1,319,339. 1,673,488. 1 Part 111 I Analysis of Changes in Net Assets or Fund Balances I Total net assets or fund balances at beginning of year-Part II, column ( a), line 30 ( must agree with end-of-year fig ure reported on pnor year's return ) 1 1, 319, 339. 2 Enter amount from Part I , line 27a ...................................................... 2 354, 149. 3 Other increases not 3 included in line 2 ( itemize) ► --------------------------------------------------------------------------------------------- 4 Add lines 1, 2, and 3 ............................................................... 673, 488. 5 Decreases not included in line 2 ( itemize ) ► ----------------------------------------------------------------------------------- 5 6 Total net assets or fund balances at end of year (line 4 minus line 5)-Part II , column ( b), line 30 6 1, 67 3, 488. Form 990-PF (2007) WKIT FD6591-002 4 Form 990-PF (2007) Page 3 Part IV Capital Gains and Losses for Tax on Investment Income (a) describe the kind ( s) of property sold (e g , real estate ( b) How acquired (c) acquired List and , P-Purchase Date (d) Date sold 2-story warehouse, or common stock , 200 shs MLC Co ) ( mo, day, yr) (mo day, brick D-Donation , yr ) 1a THRU WACHOVIA SECURITIES P VAR VAR b 2,000 SHS. CITIGROUP D VAR VAR c d e f) Depreciation allowed (g) or other h) Gain or (loss) Gross sales price ( Cost basis ( (e) (or allowable ) plus expense of sale ( e) plus (f) minus (g) a 26,383. 27,582. -1,199. b 88,839. 44,160. 44,679. c 0. d 0. e 0. Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (1) Gains (Col (h) ga in mi nus Adjusted basis ( col (k), but not less than -0-) or V as of 12/31/69 U ) k) Excess of col ( i) (i) F M as of 12/31/69 over col 0 ), if any Losses (from col
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