9 PF Return of Private Foundation 1 545-00 52

Home , Orthodox Union

9 _PF Return of Private Foundation OMB No 1 545-00 52 Form 90 or Section 4947(a)(1) Nonexempt Charitable Trust 2003 D epartment of th e Treasu ry Treated as a Private Foundatio n Internal Revenue Service Note: The organization may be able to use a copy of this return to satisfy state repo rting requirements For calendar year 2003 , or tax year beg inning NOV 1, 2003 and ending OCT 31 , 200 4 G Check all that apply : Initial return Final return Amended return A ddress change Name change Name of organization A Employe r identificat ion numbe r Use the IRS label . Otherwise, STEPHEN AND REGINA SAVITSKY FOUNDATIO N 22-38 4 1953 print Number and street (or P O box number if mail is not delivered to street address) Room/suite B Telephone number or type . 423 DAUB AVENUE 516-374-2122 See Spec ific . City or town, state , and ZIP code C If exemp tion application is pending, check here Instructions EWLETT , NY 11557 D 1 . Foreign organizations, chec k here 00.~ Z . Foreign o r ganizations meeting the 85% test, H Checktype e of organization . (c)(3)X Section 501 exempt private foundation check here and att ach computation ► ust = Other taxable private foundation Section 4947(a)(1) nonexempt charitable t r E If private foundation status was terminate d I Fair market value of all assets at end of yea r J Accounting method : LXJ Cash L_J Accrual under section 507(b)(1)( A ), check here NO- (from Part ll, col (c), line 16) = Other (specify) F If the foundation is in a 60-month te rmination 00~ $ 3 3 8 , 1 6 0 . (Part 1, column (d) must be on cash basis) under section 507(b)(1)(B), check here lip.~ Pa rt I Analysis of Revenue and Expenses (a ) R evenue and ( b) Net investment (c ) Adjusted net (d) Disbursements (The total of a mo u nts i n col u mns (b ), ( c ), and (d ) may n o t for c hari table purposes necessar ily eq u al the amounts in col umn (a)) expenses per books income income (cash basis only) 1 Contributions, gifts, grants, etc , received 0 Che ck oi d the foundation it lot requited to attach Sch B 2 Distributions from split-interest trusts ~] s an d temporar y 1 3 Icashemvestmenf 31 . J131 . . TATEMENT s 4 Dividends and interest from securities 10,086 . 10,086 . 10 , 0 8 6 . STATEME NT 2 cl~i 5a Gross rents r__q b ( Net rental i ncome or (loss ) Net gai n or ( loss) fr om sale at asse s no on 6a ~y l ine 1 0 2,300 . b G ros s sa les price for all assets on line 6 a 1 ~ 5 , ~ Q ~ . 7 Capital gain net income (from Part IV, li ne 2) 2,300 . C) 8 Net short-term capital gai n W 9 Income modification s Z 10a Gr oss sales less re tu rns and a ll owa nce s

Z b Less Cost of goo d s s old U c Gross profit or (loss) Ln 11 Other income 12 Total. Add lines 1 through 11 12,417 . 12,417 . 10,117 .

1 3 Compensation of officers , directors, trustees , etc 0 • 0 • 0 14 Other employee salaries and wages N 15 Pension plans, employee benefits y 16a Legal fee s Q b Accounting fees STM T 3 5,000 . 0 . 0 . 0 . W c Other professional fee s > 17 Interes t 1 8 Taxes p cC 136 . 0 . 0 . 0 . 19 Depreciation d depleAdh L- E 20 Occupancy ,r- ~f a 21 Travel, confer ar ~rin1 7 C005 22 Printing and p bon s m 23 Other expense ~~ 24 Tota l operatin and a . CL expenses . Add Ines 13 through 23 5,136 . 0 . 0 . 0 0 25 Contributions , gifts, grants paid 98,886 . 98,886 . 26 Total expenses and disbursemen ts . Add lines 24 and 25 104, 022 . 0 . 0 . 98,886 . 27 Subtract line 26 from line 12 : S Ex cess of revenu e ov er expe n se s and disbursements <91, 605 . b N et investment income if negative, enter -0-) 12 , 4 17 . C Adjusted net income (if negative, enter -0-) 10,117 . 1 ,z-os-oa LHA For Paperwork Reduction Act Notice , see the instructions . Form 990-PF (2003) 1 16370228 781772 S&R2001 2003 . 09000 STEPHEN AND REGINA SAVITSKY S&R20011 ' . Fo rm 990-PF (2003) STEPHEN AND REGI NA SAVITSKY FOUNDATION 22-3841953 Paget Balance Sheets Attached schetl u les an da mount s inthedescrip6 o n B eginning of yea r End of yea r column shou ld b e f ore n d -o t-yea r amoun tsonly (a )Book Value ( b)Boo k-Valu e (c) Fair Market Valu e 1 Cash - non-interest-bearin g ,556 .I 1,b4 1 .1 2 ,64 .i . 2 Savings and temporary cash investments 3 Accounts receivable ► Less: allowance for doubtful accounts ► 4 Pledges receivable ► Less: allowance for doubtful accounts ► 5 Grants receivabl e 6 Receivables due from officers, directors, trustees, and other disqualified persons 7 Other notes and loans receivable 00. Less : allowance for doubtful accounts ► 8 Inventories for sale or use N 9 Prepaid expenses and deferred charge s a 10a Investments - U .S and state government obligations b I nvestments - corporate stoc k c I nvestments - corporate bond s 11 investments -land, buildings, and equipment basis Le ss a ccumulated depreciatio n 12 Investments - mortgage loan s 13 Investments - other STMT 5 14 Land, buildings, and equipment basis ► Less acc u m ulate d depreciatio n 15 Other assets (describe ►

16 Total assets (to be completed by all filers) 405,152 . 338,160 . 338,160 . 17 Accounts payable and accrued expenses 18 Grants payabl e to 19 Deferred revenu e 2 20 Loans from officers, directors, trustee s , a n d other disquali fied perso n s m 21 Mortgages and other notes payable J 22 Other liabilities (describe ►

23 Total liabilities (add lines 17 through 22 ) 0 . 0 . Organizations that follow SFAS 117 , check here ► Lx] and complete lines 24 through 26 and l ines 30 and 31 . 24 Unrestricted 405 .152 . 338 , 160 . m 25 Temporarily restricted m 26 Permanently restricte d Organizations that do not follow SFAS 117 , check here ► 3 and complete lines 27 through 31 . y 27 Capital stock, trust principal, or current fund s 28 Paid-in or capital su rplus, or land, bldg ., and equipment fun d < 29 Retained earnings, accumulated income, endowment, o r other funds z°' 30 Total net assets or fund balances

31 Total liabilities and net assets/fund balances 1 405,152 .1 338,160 . Part III Analysis of Changes in Net Assets or Fund Balance s

1 Total net assets or fund balances at beginning o f year - Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year's retu rn) 405,152 . 2 Enter amount from Part I, line 27a <91,605 . > 3 Other increases not included in line 2 (itemize) ► UNREA LI ZED GAIN ON INVESTMENT 24,613 . 4 A dd lines 1, 2, and 3 338,160 . 5 Decreases not included in line 2 (itemize) ► 0 . 6 Total net assets or fund balances at end of year (line 4 minus line 5) - Part II, column (b), line 3 0 338,160 . Form 990-PF (2003) 32351 1 12-OS-0 3 2 16370228 781772 S&R2001 2003 . 09000 STEPHE N AND REGINA SAVITS KY S&R2001 1 Form 990-PF (2003) STE PHEN AND REGINA SAVITSKY FOUNDATION 22-3841953 Page 3 Part IV Capital Gains and Losses for Tax on Investment Incom e (a) List and describe the kind(s) of property sold (e .g., real estate, ow acgwre (c) Date acquired (d) Date sold .) D -Purchase (mo 2-story brick warehouse ; or common stock, 200 shs MLC Co -Donatio n ., day, yr ) (mo., day, y r.) la b SEE A TA C d e

(e) Gross sales pric e (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (or allowable ) plus expense of sal e (e) plus (f) minus (g ) a b c d

e 105,0 ( ., 1 V L + f / V V Complete on ly for assets s nng gain in column (h) and owned b y elation 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-) o r (i) F.M .V. as of 12 /31 /69 I as of 12/31/69 over col . (j), if any Losses (from col. (h)) a b c d e 2,300 .

7 2 Capital9 ain ~ net 1income If or(loss), net capital lass enter r If gain, also-0- enter in in PartPart I, line I, line 7 ~ 2 2,300 . 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 0 . Part Qualification Under Section 4940(e) for Reduced ax on Net Investment Incom e (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 organization liable for the section 4942 tax on the distributable amount of any year in the base period? 0 YesX ~ No If "Yes;" the organization does not qualify under section 4940(e) Do not complete this part . 1 Enter the appropriate amount in each column for each year ; see instructions before making any entries . a Base period years (b) (0 Distribution ratio Calendar year (or tax year beginning in) Adjusted qualifying distributions Net value of noncharitable-use assets (col . (b) divided by col . (c)) 2002 89,287 . 398,296 . .2241725 2001 109,681 . 465,498 . .235620 8 2000 1999 199 8

2 Total of line 1, column (d ) 2 .4597933 3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5, o r by the number of yea rs the foundation has been in existence if less than 5 year s 3 .2298967

4 Ente r the net value of noncharitable-use assets for 2003 from Part X, line 5 4 358,414 .

5 Multiply line 4 by line 3 5 82,398 .

6 Enter 1% of net investment income (1% of Part I, line 27b) 6 124 .

7 Add lines 5 and 6 7 82,522 .

8 Enter quali fying distributions from Part XI I, line 4 8 98,886 . If line 8 is equal to o r greater than line 7, check the box in Part VI, line ib, and complete that part using a 1% tax rate . See the Part VI instructions.

323527 / 72-05- 03 Form 990-PF (2003) 3 16370228 781772 S&R2001 2003 . 09000 STEPHE N AND REGINA SAVITSKY S&R20011 Form 990-PF(2003) STEPHE N AND REGINA SAVITS KY FOUNDATION 22-3841953 on investment incom e or 4948 - see instri is Exempt operating foundations described in section 4940(d)(2), check here ► L_j and enter "N/A" on line 1 . Date of ruling letter : (attach copy of rul ing letter if necessary-see instructions ) b Domestic organizations that meet the section 49 40(e) requirements in Part V, check here ► OX and ente r 1% 124 . of Part I, line 27 b c A ll other domestic organizations 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-) 0 . 3 Add lines 1 and 2 4 Subtitle A (income) tax (domestic section 49 47(a)(1) trusts and taxable foundations only. Othe rs enter -0-) 5 Tax based on investment income . Subtract line 4 f rom line 3 If zero or less, enter -0- 6 Credits/Payments: a 2003 estimated tax payments and 2002 overpayment c redited to 2003 r6 265 . b Exempt foreign organizations - tax withheld at sourc e c Tax paid with application for extension of time to file (Form 8868 ) d Backup withholding erroneously withhel d 7 Total credits and payments . Add lines 6a through 6 d 265 . 8 Enter any penalty for underpayment of estimated tax . Check here = if Form 2220 is attached 9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amount owe d 11111. 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 2004 estimated taxi 141 . 1 Refundedjo~

1 a During the tax year, did the o rganization attempt to influence any national, state, or local legislation or did it participate or intervene i n any political campaigns la X b Did it spend more than $100 during the year (either di rectly or indirectly) for political purposes (see instructions for definition) lb X If the answer is "Yes" to la or ib, attach a detailed description of the activities and copies of any materials published or distributed by the organization m connection with the activities c Did the o rganization file Fo rm 1120 -POL for this years is X d Enter the amount (if any) of tax on political expenditures (section 4955) imposed du ring the yea r: (1) On the organization . ► $ 0 . (2) On o rganization managers. ► $ 0 . e Enter the reimbursement (if any) paid by the organization during the year for political expenditure tax imposed on o rganization managers. ► $ 0 . Has the organization engaged in any activities that have not previously been reported to the IRS? X If "Yes," attach a detailed description of the activities 3 Has the organization made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar mstruments9 If "Yes, " attach a conformed copy of the changes X 4a Did the organization have unrelated business gross income of $1,000 or more during the yea r 4a X b If "Yes," has it filed a tax return on Form 990-T for this year? N/A 4b 5 Was there a liquidation, termination, dissolution, or substantial contraction during the yea r X If "Yes, " attach the statement required by General Instruction T 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 instrumenY2 6 1 X 7 Did the organization have at least $5,000 in assets at any time du ri ng the year If "Yes, "complete Part ll, col (c), and Part XV 8a Enter the states to which the foundation reports or with which it is registered (see instructions) ► NEW YORK b If the answer is "Yes" to line 7, has the organization 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 8b X 9 Is the organization claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calenda r year 2003 or the taxable year beginning in 2003 (see instructions for Part XIV)? If "Yes," complete Part XIV 9 X 10 Did any persons become substantial contributors during the tax years If "Yes," attach a schedule listing their names and addresses 10 X 11 Did the organization comply with the public inspection requirements for its annual returns and exemption application? 11 X Web site address ► N/A 12 The books are in care of ► STEPHEN SAVITSKY Telephone no. ► 516 - 3 7 4 - 212 2 4 2 3 DAUB AVENUE, HEWLETT, NY 11557 ZIP+4 ►115 5 7 13 Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 - Check here oii- L-1 and enter the amount of tax-exempt interest received or accrued during the year ► 1 13 ~ N/A 32-05-03 Form 990-PF (2003 ) 4 16370228 781772 S&R2001 2003 . 09000 STEPHE N AND REGINA SAVITSKY S &R20011 Form 990-PF (2003) STEPHEN AND REGINA SAVITSKY FOUNDATIO N 22-3841953 Page s orm File Form 4720 if any item is checked in the "Yes " column , unless an exception applies . Yes No la During the year did the organization (either directly or indirectly ) (1) Engage in the sale or exchange, or leasing of property with a disqualified person 0 Yes 0 No (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person ? Yes XO No (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person Yes X No (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person ? Yes 0 No (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) Yes O N o (6) Agree to pay money or p roperty to a government official s (Exception . Check "No" if the organization agreed to make a grant to or to employ the official for a period afte r termination of government service, if terminating within 90 days ) = Yes OX No b If any answer is "Yes" to 1a(1)-(6), did any of the acts fail to qualify under the exceptions described in Regulation s section 53 .4941(d)-3 or in a cu rrent notice regarding disaster assistance (see page 19 of the instructions)? N/A lb Organizations relying on a current notice regarding disaster assistance check here ► 0 c Did the o rganization engage in a prior year in any of the acts described in la, other than excepted acts, that were not cor recte d before the first day of the tax year beginning in 2003 1c X Taxes on failure to distribute income (section 4942) (does not apply for yea rs the organization was a private operating foundation defined in section 4942(j)(3) or 4942(j)(5)) : a At the end of tax yea r 2003, did the o rganization have any undistributed income (lines 6d and 6e, Part XIII) for tax year(s) beginnin g before 2003? 0 Yes [K] No If "Yes ;" list the years ► b Are there any years listed in 2a for which the organization 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 attac h 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 organization hold more than a 2% direct or indirect interest in any business enterprise at any tim e during the year? Yes OX N o b If "Yes," did it have excess business holdings in 2003 as a result of (1) any purchase by the organization or disqualified persons afte r 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 , Form 4720, to determine if the organization had excess business holdings in 2003) N/ A 3b 4a Did the organization invest during the year any amount in a manner that would jeopardize its charitable purpose s 4a X b Did the organization make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2003 ? 4b X 5a During the year did the organization pay or incur any amount t o (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? Yes XO No (2) Influence the outcome of any specific public election (see section 4955) ; or to carry on, directly or indirectly , any voter registration drive'? = Yes No (3) Provide a grant to an individual for travel, study, or other similar purpose s Yes XX No (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)? Yes [XI No (5) Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animal s Yes OX No b If any answer is "Yes" to 5a(1)-(5), did any of the transactions fail to qualify under the exceptions described in RegulationS section 53 .4945 or in a current notice regarding disaster assistance (see instructions) ? N/A 5b Organizations relying on a current notice regarding disaster assistance check her e ► = c If the answer is "Yes" to question 5a(4), does the organization claim exemption from the tax because it maintained expenditure responsibility for the grant? N/A Yes = No If "Yes, "attach the statement required by Regulations section 53 4945-5(d) 6a Did the organization, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contracfl 0 Yes FX7 No b Did the organization, during the year, pay premiums, di r ectly or indirectly, on a personal benefit contract 6b X If you answered "Yes" to 6b, also file Form 8870 Form 990-PF (2003)

32354 1 12-05-03 5 16370228 781772 S&R2001 2003 . 09000 STEPHEN AND REGINA SAVI TSKY S&R20011 STEPHEN AND REGINA SAVITSKY FOUNDATIO N 22-384195 3 part V~~~ Information About Officer s, Directors, Trustees, Foundation Managers, Highly Page 6 0 Paid Employees, and Contractors 1 List all officers, d irectors, trustees, foundation managers and the ir compensation : (c) Compensation Contributions to (b) Title, and average l (e) Expense (a) Name and address hours per week devoted (I t not pa i d, emp ao nd deferfetlp ans account, other to position enter -0-) compensation allowances STEPHEN SAVITSKY DIRECTOR, PRESIDENT & EA S 423 DAUB AVENUE HEWLETT, NY 11557 5 0 . 0 . 0 . & SECRETARY

NY 11 5 0 . 0 . 0 .

FAR R 0 . 0 . 0 . STUAR

0 . 0 . 0 . on li ne 1) . If none,

(a) Name and address of each person paid more than $50,000 1 (b) Type of service I (c) Compensation

Total number of others receiving over $50,000 for professional services Part IX-A Summary of erect Charitable Activities List the foundation's four largest direct charitable activities during the tax year . Include relevant statistical information such as the Expenses number of o rganizatio ns and other benefi ciaries served, conferences convened, research papers produced, etc . ~ N/A

;2 -X05-03 Form 990-PF (2003) 6 16370228 781772 S&R2001 2003 .09000 STEPHEN AND REGINA SAVITSKY S&R2001 1 Form 990-PF (2003) STEPHEN AND REGINA SAVITS KY FOUNDATION 22-3841953 Page 7 Part IX=B Summary of Program-Related Investments

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

1 Fair mar ket value of assets not used (or held for use) directly in ca rrying out charitable, etc ., pu rposes. a Average monthly fair market value of securitie s is 357,102 . b Average of monthly cash balances lb 6 , 770 . c Fair market value of all other assets is d Total (add lines la, b, and c ) 1d 363,872 . e Reduction claimed for blockage or othe r factors reported on lines la and 1c (attach detailed explanation) le 0 . 2 Acquisition indebtedness applicable to line 1 assets 2 0 . 3 Subtract line 2 from line 1d 4 Cash deemed held for charitable activities. Enter 1 1/2% of Ime 3 (for greater amount, see instructions) 5 Net value of noncharitable -use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4 6 Minimum investment return Enter 5% of line 5 Distributable Amount (see instructions) (Section 4942(l)(3) and (1)(5) private operating foundations and certain Part XI foreign organizations check here ► and do not comp lete this pa rt.) 1 Minimum investment return from Part X, line 6 2a Tax on investment income for 2003 from Part VI, line 5 2a 124 . b Income tax for 2003 . (This does not include the tax from Part VI .) 2b c Add lines 2a and 2 b 2c 124 . 3 Dist ributable amount before adjustments . Subtract line 2c from line 1 3 4a R ecoveries of amounts treated as quali fying distributions 4a 0 . b Income distributions from section 4947(a)(2) trusts 4b . c Add lines 4a and 4b 9 4c 0 . 5 A dd lines 3 and 4c 6 Deduction from distributable amount (see instructions ) 7 Distributable amount as adjusted. Subt ract line 6 from line 5 . Enter here and on Part XIII, line 1 Part X I Qualifying Distributions (see instructions)

1 Amounts paid (including administrative expenses) to accomplish charitable, etc , purposes: a Expenses, contributions, gifts, etc . - total from Part I, column (d), line 26 1a 98,886 . b Program-related investments -Total from Part IX-B lb 0 . 2 Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc , purposes 2 3 Amounts set aside for specific charitable projects that satisfy the : a Suitability test (prior IRS approval required) 3a b Cash distribution test (attach the required schedule) 3 b 4 Qualifying distributions . Add lines la through 3b. Enter here and on Part V, line 8, and Part XIII, line 4 4 98,886 . 5 Organizations that qualify under section 4940(e) for the reduced rate of tax on net investmen t income . Enter 1% of Part I, line 27b 5 124 . 6 Adjusted qualifying distributions . Subtract line 5 from line 4 6 98, 762 . Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for the section 4940(e) reduction of tax in those years Form 990-PF (2003)

323561 12-05-03 7 16370228 781772 S&R2001 2003 . 09000 STEPHE N AND REGINA SAVITSKY S &R2001 1 Form 990-PF(2003) STEPHEN AND REGINA SAVITS KY FOUNDAT ION 22-3841953 Page8 Part Xtll Undistributed In come (see instructions)

2 U ndistribut ed income , if a ny , as of the end of 200 2 a Enter amount for 2002 only 0 . b Total for prior years. 0 . 3 Excess distributions carryover, if any, to 2003 : a From 199 8 b From 1999 c From 200 0 d From 2001 74,635 . e From 2002 56,637 . f Total of lines 3a through e 131,272 . 4 Qualifying distributions for 2003 fro m Part XII, line 4: ► $ 98,886 . aA pplied to 2002, but not more than line 2a 0 . bApplied to undistributed income of prio r years (Election required - see instructions) 0 . c Treated as distributions out of corpus (Election required - see instructions ) 0 . d Applied to 2003 dist ributable amount eR emaining amount dist ributed out of corpu s

5 Excess distributions carryover applied t o 2003 ( If a n amou nt appears in col u mn (d), th e same amoun t must be shown in col u mn ( a ) ) 6 Enter the net total of each column as indicated be low

a Co rpu s Add lines 3f , 4 c, and 4e S u btract l ine 5 212,361 . b Prior years' undistributed income Subtract line 4b from line 2b 0 . c Enter the amount of prior years' undistributed income fo r which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assesse d 0 . d Subtract line 6c from line 6b . Taxable amount - see instruction s 0 . e Undistributed income for 2002 Subtract line 4a from line 2a . Taxable amount - see instr . 0 . f Undistributed income for 2003. Subtrac t lines 4d and 5 from line 1 This amount must be distributed in 200 4 0 . 7 Amounts treated as distributions out of corpus to satisfy re quirements imposed by section 170(b)(1)(E) or 4942(g)(3 ) 0 . 8 Excess distributions carryover from 1998 not applied on line 5 or line 7 0 . 9 Excess d istributions car ryover to 2004. Subtract lines 7 and 8 from line 6a 212,361 . 10 Analysis of line 9: a Excess from 1999 b Excess from 2000 c Excess from 2001 74,635 . d Excess from 2002 56,637 . e Excess from 2003 81,089 . Form 990-PF (2003) 323571 12-OS- 03 8 16370228 781772 S&R2001 2003 . 09000 STEPH EN AND REGINA SAVITSKY S&R20011 Form 990-PF STEPHEN AND REGINA SAVITSKY FOUNDATION 22 - 3841953 Page 9 operating Foundations (see instructions and Part VII-A, question 9) N/ A 1 a if the foundation has received a ruling or determination letter that it is a private operatin g foundation, and the ruling is effective for 2003, enter the date of the ruling mo. L b Check box to indicate whether the organization is a private operating foundation described in sectio n or 2 a Enter the lesser of the adjusted net Tax year Prior 3 years income from Part I or the minimum (a) 2003 (b) 2002 (c) 2001 (e) Tota l investment return from Part X fo r each year listed b 85% of line 2a c Qualifying distributions from Part XI I, line 4 for each year liste d d Amounts included in line 2c not used directly for active conduct of exempt activitie s e qualifying distributions made directly for active conduct of exempt activities . Subtract line 2d from line 2 c 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(l)(3)(B)(i) b "Endowment" alternative test - Ente r 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(j)(3)(B)(uQ (3) Largest amount of support from an exempt organizatio n (4) Gross investment income Part XV Supplementa ry information (complete tn is part only it the organization had $5,000 or more in asse at any time during the year -see page 25 of the instructions.) 1 Information Regard ing 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 if they have contributed more than $5,000) . (See section 507(d)(2).) NONE 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 interes t NONE 2 Information Regarding Contribut ion, Grant, Gift, Loan , Scholarship, etc., Programs: Check here ► X if the organization only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds . If the orga nization m akes gi fts, grants, e tc. (see i nstruc tion s) to individua ls 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 othe r factors'

323581/01 -2 0-04 Form 990-PF (2003) 9 16370228 781772 S&R2001 2003 .09000 STEPHEN AND REGINA SAVITSKY S&R20011 Form 990-PF (2003) S TEPHEN AND REGINA SAVITSKY FOUNDATION 22-3841953 Pape 1 0

3Z3tiU1/ 1 'C-UD-UJ Form 990-PF (2003) 10 16370228 781772 S&R2001 2003 . 09000 STEPH EN AND REGINA SAVIT SKY S&R2001 1 Form 990-PF (2003) STEPHEN AND REGI NA SAVI TS KY FOUNDATION 22-3841953 Page 11 Part XVI-A Analysis of Income- Producing Activities

Enter gross amounts unless otherwise indicated . Unrelated business income Exc lu ded by section 512 , 513 , or 514 (e)

1 Program service revenue : code code iu n U uvii uwL1 iiic a b c d e f g Fees and contracts from government agencie s 2 Membership dues and assessment s 3 Interest on savings and temporary cas h investments 1 4 31 . 4 Dividends and interest from securities 1 4 10,086 . 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 incom e 8 Gain or (loss) from sales of assets othe r than inventory 1 4 2,300 . 9 Net income or (loss) f rom special event s 10 Gross profit or (loss) from sales of inventory 11 Othe r revenue: a b c d e 12 Subtotal . Add columns (b), (d), and (e) 0 . 12,417 .1 0 . 13 Total . Add line 12, columns (b), (d), and (e) 13 12,417 . (See worksheet in line 13 instructions to verify calculation s FP_a_rt_3N1_-'ffj Relationship of Activities to the Accomplishment of Exempt Purposes

12-05-03 Form yvU-I'F ('LU03 ) 11 16370228 781772 S&R2001 2003 . 09000 STEPHEN AND REGINA SAVITSKY S&R20011 Form•990-PF(2003) STEPHEN AND REGI NA SAVITSKY FOUNDATION 22-3 84 1953 Page 1 2 Port XVI! Information Regarding Transfers To and Transactions and Rel ationships With Noncharitab le Exempt Organizations Did the organization directly or indirectly engage in any of the following with any other organization desc ribed in section 501(c) of YE the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organization s a Transfe rs from the reporting organization to a noncharitable exempt organization of : (1) Cash 1a(1) X (2) Other assets la(2) X b Other transactions: ( 1) Sales of assets to a noncharitable exempt organization 1b(1) X (2) Purchases o f assets from a noncharitable exempt organization lb(2) (3) Rental o ffacilities, equipment, or other assets lb(3) (4 ) Reimbursement ar rangements lb(4) X (5 ) Loans or loan guarantees lb(5) X (6) Performance of services or membership or fundraising solicitations 1b(6 ) X c Sharing of facilities, equipment, mailing lists, other assets, or paid employees 1c X d If the answer to any of the above is "Yes," complete the following schedule Column (b) should always show the fair mar ket value of the goods, othe r assets, or services given by the reporting organization . If the organization received less than fair mar ket value in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, o r services received.

2a Is the organization directly or indirectly affiliated with, or related to, one or more tax-exempt organizations describe d in section 501(c) o f the Code (other than section 501(c)(3)) or in section 527 0 Yes M No b If "Yes ;" complete the following schedule (a) Name o f organization (b ) Type o f organization (c ) Desc ription of relationship N/A

Under penalties_lo f perjury, I declare that I examined this return, incl uding accompanying schedules and sta tements, and to the best of my know ledge and belief, it is true, correct, and complete DE c laratio n of preparer (otl an taxpaye,r or fiduciary) is based on all information of which preparer has any knowledg e 11 1 K Signature of icr t .? Date Title o r = Preparer' self- signature s 2M >~ emploved ► 0 CL CL 0) Firms name or yours a ~ if self-employed) , -1J -J 5 Nir 01 ,~, KGs ad d re SS, a n tl ZI P code ' FI.s i, NY 40

323621 12-05-03

16370228 781772 S&R2001 2003 .090 0 CONTINUATION FOR 990-PF, PART IV STE P HE N AND REGI NA SAVITS KY FOUNDATIO N 22-3841953 PAGE 1 OF 1 Part IV Cap it al Gai ns and Losses fo r Tax on Investm ent Inc om e (a) List and describe the kind(s) of property sold, e .g , real estate, How acquire (c) Date acquired (d) Date sold - Purchase (mo 2-story brick warehouse ; or common stock, 200 shs . MLC Co. D - Donatio n ., day, yr .) (mo ., day, yr.) la AM ERICA N B AL ANCED FUND 301 . 2 SHARE S P 12/14/0111/24/03 b CAPITAL INCOME BUILDERS - 109 . 7 SHARES P 12/14/0112/24/03 c CAP ITAL INCOME BUILDERS - 312 . 18 SHARES P 12/14/0108/13/0 4 d INCOME FUND OF AMERICA-308 . 26 SHARE S e WASHI NGTON MUTUAL - 183 . 62 SHARE S f CASH MANAGE MENT TRUST OF AMERICA - 2000 g CASH MANAGEMENT TRUST OF AMER ICA - 1000 P 07 h CASH MANAGE MENT TRUST OF AMER ICA - 1500 SHARE S P 07 i CA SH MANAG EMENT TRUST OF AMERICA - 2500 SHARES P 0 7

m n 0 (e) Gross sales price (f) Depreciation allowed (g) Cost or other basis (h ) Gain or (loss) (or allowable) plus expense of sale (e) plus (f) minus (g ) a 5,000 . 4,678 . b 5,000 . 4,689 . c 15,000 . 13,342 . d 5,000 . 4,800 . e 5,000 . 5,191 . f 20,000 . 20,000 . 9 10,000 . 10,000 . h 15,000 . 15,000 . 25,000 . 25,000 . 1 k

m n 0 Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/6 9 (I) Losses (from col . (h) ) . Excess of col . (i ) Gains (excess of col . (h) gain ove r col. (k), (i) F M .V. as of 12/31/69 I (has of 12/31/6basis9 (over col (1), if an y but not less than "-0=") a b c d e . > f 9 h

m n 0

2 Capital gain net income or (net capital loss) If (log s),lenter tear !nin Part I, line 7 2 2,300 . 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), ente r "-0=' i n Part I, li ne 8 3 0 .

32359 1 05-01-03 13 16370228 781772 S&R2001 2003 . 09000 STEPHEN AND REGINA SAVITSKY S &R20011 STEPHEN AND REGI NA SAVITSKY FOUNDATION 22-3841953

FORM 990-PF INTEREST O N SAVINGS AND TEMPORARY CASH INVESTMENTS STATEMENT 1

SOURCE AMOUNT

MONEY MARKET 31 .

TOTAL TO FORM 990-PF, PART I, LINE 3, COLUMN A 31 .

FORM 990-PF DIVIDENDS AND INTERES T FROM SECU R ITIES STATEMENT 2

CAPIT AL GAI NS COLUMN (A) SOURCE GROSS AMOUNT DIVIDEND S AMOUNT

MUTUAL FUNDS 10,086 . 0 . 10,086 .

TOTAL TO FM 990-PF, PART I, LN 4 10,086 . 0 . 10,086 .

FORM 990-PF ACCOUNTING FEES S TATEMENT 3

(A) (B) (C) (D) EXPENSES NET INVEST - ADJUSTED CHARITABL E DESCRIPTION PER BOOKS MENT INCOME NET INCOM E PURPOSES

JACK RAPP, CPA 5,000 . 0 . 0 . 0 .

TO FORM 990-PF, PG 1, L N 16B 5,000 . 0 . 0 . 0 .

FORM 990 - PF TAXES STATEMENT 4

( A ) ( B ) (C) (D) EXPENSES NET I NVEST- ADJUSTED C HARITABLE DES CRIPTION PER BOOKS MENT I NCOME NET INCOME PURPOS ES

TAX PA ID ON INVESTMENT INCOME 36 . 0 . 0 . 0 . NY STATE DEPARTMENT OF LAW 100 . 0 . 0 . 0 .

TO FORM 990-PF, PG 1, LN 18 136 . 0 . 0 . 0 .

14 STATEMENT(S) 1, 2, 3, 4 16370228 781772 S &R2001 2003 . 09000 STEPHEN AND REGINA SAVI TSKY S &R2 0011 STEPHEN AND REGINA SAVITSKY FOUNDATION 22 - 384195 3

FORM 990-PF OTHER INVESTMENTS STATEMENT 5

FA I R MARKET DESCRIPTION BOOK VALUE VALUE

AMERICAN BALANCED FUND 98,935 . 98,935 . CAPITAL INCOME BUILDER FUND 91,049 . 91,049 . CASH MGMT TR OF AMER ICA 26,745 . 26,745 . INCOME FUND OF AMERIC A 53,130 . 53,130 . WASHINGTON MUTUAL I NVESTOR S 65,658 . 65,658 .

TOTAL TO FORM 990-PF , PART II, LINE 13 335,517 . 335,517 .

FORM 990-PF GRANTS AND CONTRIBUTIO NS STATEMENT 6 PAID DURI NG THE YEAR

RECIPIE NT RE CIPIENT RECIPIENT NAME AND ADDRESS STATUS P URPOSE OF GRANT RELATIONSHP AMOUNT

AFIKIM , NY 501(C)(3) FOU NDATIO N FOR JEWISH CAUSE S 1,800 .

AGUDATH IS RAEL OF LO NG 501(C)(3) JE WISH UMBRELLA ISLAND , LONG ISLAND , NY ORGANIZATION 720 .

CONGREGATION AISH KODESH, 501(C)(3) GENERAL JEWISH LONG ISLAND, NY OUTREACH 400 .

AMERICAN FRIENDS OF YAD 501(C)(3) GENERAL JEWISH ELIEZER, NY AS S ISTANCE P ROGRAM 1,750 .

AMIT, NY NY 501(C)(3) DEDICATION OF WING IN FOSTER CARE 10,000 .

ANSHEL CHAYIL, NY 501(C)(3) ASSIST JEWISH P OOR 1,000 .

BAIS MEDRASH OF QUE ENS, NY 501(C)(3) GE NERAL JEWISH EDUCATION 10,000 .

BOSTONA MEDRASH OF 501(C)(3) GE NERAL JEWISH LAWRENCE, NY EDUCATION 360 .

JAFFA INSTITUTE, NY 501(C)(3) GENERAL JEWIS H PROGRAM 360 .

CONGREGATION ANSHE I CHESED, 501(C)(3) GE NRAL JE WISH NY EDUCATION 4,615 .

15 STATEMEN T(S) 5, 6 16370228 781772 S& R2001 2003 . 09000 STEPHE N AND REGINA SAVITSKY S&R 20011 ,,STEPHEN A ND REGI NA SAVITSKY FOUNDATION 22 - 3841953

CONGREGATION BAIS MEDRASH 501(C)(3) CAPITAL BUILDING OF CEDARHURST, CEDARHURST, FUND NY 10,000 .

YACHAD , NY 501(C)(3) ASSIST TH E LEARNING DIS ABLED CHILDREN 2,000 .

HEBREW ACADEMY OF LONG 501(C)(3) GENERAL JEWISH BEACH, HEWLETT, NY EDUCATION 5,000 .

KULANU, NY 501(C)(3) ASSIST THE LEARNING DIS ABLED CHILDREN 2,500 .

LEON MAYER FUND , NY 501(C)(3) GENERAL JEWISH OUTREACH 200 .

MESORAH HERITAGE 501(C)(3) GENERAL JEWI S H FOUNDATION , NY EDUCATION 5,000 .

OORAH, N Y 501(C)(3) GENERAL JEWISH OUTREACH 150 .

PARTNERS IN TORAH, NY 501(C)(3) GE NERAL JEWISH PROGRAM 360 .

AMERICAN FRIENDS OF 501(C)(3) ASSISTANC E WITH HATZOLAH OF YEHUDA AND FAMILIES OF TERROR SHOMRON, N Y 500 .

ORTHODOX UNION, NY, NY 501(C)(3) GENERAL DONATION TO UMBRELLA ORGAN . JEWISH CAUSE S 28,500 .

YESHIVA GEDOLAH OF 5 TOWNS, 501(C)(3) GENERAL JEWISH NY EDUCATION 1,800 .

HOLOCAUST DOCUMENTATION AND 501(C)(3) HOLOCAUST EDUCATION CENTER, NY NY EDUCATION 100 .

EZRAT AVOT, NY 501(C)(3) ASSISTANCE WIT H JEWISH FAM ILIES 150 .

AMER ICAN FR IENDS OF ZO 501(C)(3) GENERAL JEWISH ARZENUH, HEWLETT, NY ASSISTANCE PROGRAM 1,000 .

TORAH ACADEMY FOR GIRLS, 501(C)(3) JEWISH EDUCATION LAWRENCE NY 250 .

YESHIVA OF SOUTH SHORE, 501(C)(3) JEWISH EDUCATION HEWLETT, NY 500 .

16 STATEMENT(S) 6 16370228 781772 S& R2001 2003 . 09000 STEPHE N AND REGINA SAVITSKY S&R20011 STEPHEN AND REGINA SAVITS KY FOUNDATIO N 22-3841953

BAIS AVRAHAM TORAH CENTER, 501(C)(3) GENERAL DONATION NY TO UMBRELLA O RGAN . JEWISH CAUSES 700 .

YOUNG ISRAEL OF WOODMERE, 501(C)(3) G ENERAL DONATION WOODMERE, NY TO UMBRELLA O RGAN . JEWISH CA USES 1,066 .

CONGREGATION KEHILLA 501(C)(3) GENERAL DONATION YAACOV, NY TO UMBRELLA ORGAN . JEWISH CAUSE S 1,000 .

THE H ERITAGE HOUSE, NY 501(C)(3) GENERAL DONATION TO UMBRELLA ORGAN . JEWISH CAUSE S 300 .

HATZOLAH, LAWRENCE NY 501(C)(3) GENERAL JEWISH ASSISTANCE P ROGRAM 250 .

CONGREGATION BAIS EP HRIAM 501(C)(3) GE NERAL DO NAT ION YIT ZCHOK , NY TO UMBRELLA O RGAN . JEWISH CAUSES 250 .

YESHIVAT HAROVA, NY 501(C)(3) GENERAL JEWISH EDUCATION 1,000 .

MICHLOL BAIS MEDRASH OF 501(C)(3) GENERAL JEWIS H QUEENS, NY EDUCATION 250 .

CAHAL, NY 501(C)(3) FOUNDATION FOR JEWISH CAUSES 500 .

11TH SIYUM HASHAS OF DAF 501(C)(3) GENERAL J EWISH YOMI, NY EDUCATION 1,005 .

BEYITH LEPL E ITOT, NY 501(C)(3) FOUNDATION FOR JEWISH CAUSE S 3,550 .

TOTAL TO FORM 990-PF, PART XV, LI NE 3A 98,886 .

17 STATEMENT ( S ) 6 16370228 781772 S& R2001 2003 . 09000 STEPHEN AND REGINA SAVITSKY S&R 20011