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Return of Private Foundation l efile GRAPHIC p rint - DO NOT PROCESS As Filed Data - DLN: 93491264002011 Return of Private Foundation OMB No 1545-0052 Form 990 -PF or Section 4947 ( a)(1) Nonexempt Charitable Trust Treated as a Private Foundation 201 0 DepartmentRevenue Note . The foundation may be able to use a copy of this return to satisfy state reporting requirements Internall Revenue Service For calendar year 2010, or tax year beginning 01-01-2010 , and ending 12-31-2010 G Check all that apply r'Initial return r'Initial return of a former public charity r'Final return r-Amended return r'Address change r'Name change Name of foundation A Employer identification number Reuben Kadish Art Foundation Inc 31-1631167 Number and street (or P 0 box number if mail is not delivered to street address) Room/suite 6 ieiepnone number (see page 1u of the instructions) PO Box 618 Prince Street Station (212) 979-0507 City or town, state, and ZIP code C If exemption application is pending, check here F New York, NY 100120012 D 1. Foreign organizations, check here F H Check type of organization I' Section 501(c)(3) exempt private foundation 2. Foreign organizations meeting the 85% test, r- check here and attach computation Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation 3 Accounting method F Cash r- Accrual E If private foundation status was terminated I Fair market value of all assets at end un d er section 507 ( b )( 1 )( A), c h ec k h ere F o f y e a r (from Part I I, col. (c), O the r (specify ) F If the foundation is in a 60-month termination line 16)x$ 1,126,531 (Part I , column (d) must be on cash basis.) under section 507(b)(1)(B), check here (d) Disbursements Analysis of Revenue and Expenses (The (a) Revenue and Net investment Adjusted net fo r cha ritable total of amounts in columns (b), (c), and (d) may not expenses per (b) (c) income income purposes necessenly equal the amounts in column (a) (see page 11 of books the instructions) ) (cash basis only) 1 Contributions, gifts, grants, etc , received (attach schedule) 5,000 2 Check 11111'F if the foundation is not required to attach Sch B 3 Interest on savings and temporary cash investments 4 Dividends and interest from securities. 5a Gross rents . b Net rental income or (loss) q} 6a Net gain or (loss) from sale of assets not on line 10 2,078 b Gross sales price for all assets on line 6a 8,550 75 7 Capital gain net income (from Part IV, line 2) 2,078 co 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) . 11 Other income (attach schedule) . 12 Total . Add lines 1 through 11 . 7,078 2,078 0 13 Compensation of officers, directors, trustees, etc 0 0 0 0 14 Other employee salaries and wages . 15 Pension plans, employee benefits . 16a Legal fees (attach schedule) . X b Accounting fees (attach schedule) . 950 95 0 0 W co c Other professional fees (attach schedule) . Interest `''C5 17 18 Taxes (attach schedule) (see page 14 of the instructions) 19 Depreciation (attach schedule) and depletion . 166 0 166 20 Occupancy . 21 Travel, conferences, and meetings . M 22 Printing and publications . 23 Other expenses (attach schedule) . 14,365 2,800 0 0 4f3 24 Total operating and administrative expenses. Add lines 13 through 23 . 15,481 2,895 166 0 25 Contributions, gifts, grants paid . 0 0 26 Total expenses and disbursements . Add lines 24 and 25 15,481 2,895 166 0 27 Subtract line 26 from line 12 a Excess of revenue over expenses and disbursements -8,403 b Net investment income (if negative, enter -0-) 0 c Adjusted net income (if negative, enter -0-) 0 For Privacy Act and Paperwork Reduction Act Notice , see page 30 of the instructions . Cat No 11289X Form 990-PF (2010) Form 990-PF (2010) Pane 2 Attached schedules and amounts in the description column Beginning of year End of year B a l ance Sheets should be for end-of-year amounts only (See instructions (a) Boo k Va l ue ( b ) Boo k Va l ue (c) Fair M ark et Va l ue 1 Cash-non-interest-bearing . 7,320 2,895 2,895 2 Savings and temporary cash investments . 3 Accounts receivable ► Less allowance for doubtful accounts 111 4 Pledges receivable ► Less allowance for doubtful accounts 111 5 Grants receivable . 6 Receivables due from officers, directors, trustees, and other disqualified persons (attach schedule) (see page 15 of the instructions) . 7 Other notes and loans receivable (attach schedule) ► Less allowance for doubtful accounts 111 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) . c Investments-corporate bonds (attach schedule). 11 Investments-land, buildings, and equipment basis 111 Less accumulated depreciation (attach schedule) ► 12 Investments-mortgage loans . 13 Investments-other (attach schedule) . 557,137 552,375 1,123,333 14 Land, buildings, and equipment basis 111 1,164 Less accumulated depreciation (attach schedule) Jk, 861 469 303 303 15 Other assets (describe ► 16 Total assets (to be completed by all filers-see the instructions Also, see page 1, item I) 564,926 555,573 1,126,531 17 Accounts payable and accrued expenses . 18 Grants payable . .' 19 Deferred revenue . co +f- 20 Loans from officers, directors, trustees, and other disqualified persons 950 21 Mortgages and other notes payable (attach schedule) 22 Other liabilities (describe ► 23 Total liabilities (add lines 17 through 22) . 950 0 Foundations that follow SFAS 117, check here ► and complete lines 24 through 26 and lines 30 and 31. w1 4) 24 U nrestricted . 25 Temporarily restricted a 26 Permanently restricted Foundations that do not follow SFAS 117, check here F r_ 1" and complete lines 27 through 31. U- 27 Capital stock, trust principal, or current funds . 0 0 28 Paid-in or capital surplus, or land, bldg , and equipment fund 0 0 n 29 Retained earnings, accumulated income, endowment, or other funds 563,976 555,573 30 Total net assets or fund balances (see page 17 of the instructions) . 563,976 555,573 31 Total liabilities and net assets / fund balances (see page 17 of the instructions) . 564,926 555,573 Analysis of Changes in Net Assets or Fund Balances 1 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 prior year's return) . 1 563,976 2 Enter amount from Part I, line 27a . 2 -8,403 3 Other increases not included in line 2 (itemize) 111 - 3 0 4 Add lines 1, 2, and 3 . 4 555,573 5 Decreases not included in line 2 (itemize) Oil 5 0 6 Total net assets or fund balances at end of year (line 4 minus line 5)-Part II, column (b), line 30 6 555,573 Form 990-PF (2010) Form 990-PF (2010) Page 3 Ca ital Gains and Losses for Tax on Investment Income ( b) How acquired (a) List and describe the kind(s) of property sold (e g , real estate, (c) Date acquired ( d) Date sold P-Purchase 2-story brick warehouse, or common stock, 200 shs M LC Co mo , da y, r mo , da y, r ) D-Donation ( y ) ( y ) la Painting P 2005-01-01 2010-05-07 b c d e ( f) Depreciation allowed ( g) Cost or other basis (h) Gain or (loss) (e) Gross sales price (or allowable) plus expense of sale (e) plus (f) minus (g) a 8,550 6,472 2,078 b c d e Complete only for assets showing gain in column ( h) and owned by the foundation on 12/31/69 ( I) Gains (Col (h) gain minus (j) Adjusted basis ( k) Excess of col ( i) col (k), but not less than -0-) or ( i) F M V as of 12 / 31/69 as of 12/31/ 69 over col (j), if any Losses ( from col (h)) a 2,078 b c d e If gain, also enter in Part I, line 7 2 Capital gain net income or (net capital loss) If ( loss), enter - 0- in Part I, line 7 2 2,078 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) (see pages 13 and 17 of the instructions) If (loss ), enter -0- in Part I, line 8 3 0 Qualification Under Section 4940 ( e) for Reduced Tax 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? 1 Yes F No If "Yes, " the foundation does not qualify under section 4940 ( e) Do not complete this part 1 Enter the appropriate amount in each column for each year, see page 18 of the instructions before making any entries (d) Base period years Calendar Distribution ratio Adjusted qualifying distributions Net value of noncharitable-use assets year (or tax year beginning in) (col (b) divided by col (c)) 2009 0 12,743 0 0 2008 0 16,246 0 0 2007 0 27,005 0 0 2006 0 43,665 0 0 2005 27,097 40,030 0 676917 2 Total of line 1, column (d) .
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