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Form 990-PF Return of Private Foundation OMB No 1545-0052

• or Section 4947(a)(1) Nonexempt Charitable Trust


Department of die Treasury Treated as a Private Foundation
Inte.kml Revenue Service (I7)
Note: The foundation may be able to use a copy of this return to satisfy state reporti is. I 2007
For calendar year 2007 , or tax year beginning , and ending
G Check all that a I [=1 Initial return Final return Amended return [XI Address chan g e 0 Name chan a e
Name of foundation A Employer identification number
Use the IRS
label.
Otherwise , CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027
print Number and street (or P O box number if mail is not delivered to street address) Room/suite 8 Telephone number
ortype . 75 PARK PLAZA ( 617 ) 778-7999
See Specific
City or town , state, and ZIP code C If exemption application Is pending , check here
Instructions .
BOSTON , MA 02116 0 1 • Foreign organizations , check here
2. Foreign organizations meeting the 85 % test,
H Check typ e of org anization 0 Section 501 ()() c 3 exempt private foundation check here and attach computation

0 Section 4947 ( a )( 1 ) nonexem pt chartable trust Li Other taxable p rivate foundation E If priva t e f oun d a t ion s t a t us was t erm i na t e d
I Fair market value of all assets at end of year J Accounting method 0 Cash 0 Accrual under section 507 (b)(1)(A), check here ^ Li
(from Part ll, col. (c), line 16) 0 Other (specify ) F If the foundation is in a 60-month termination
^$ 323 , 91 2 042 . (Part 1, column (d) must be on cash basis.) under section 507 ( b )( 1 ) B ), check here ^0
P t I Analysis of Revenue and Expenses ( a) Revenue and ( b) Net investment ( c) Adjusted net ( d) Disbursements
(The total of amounts in columns ( b), (c), and (d) may not for chartable purposes
necessarily equal the amounts in column (a)) ex p enses p er books income income (cash basis only)

1 Contributions , gifts, grants , etc , received 7 1, 3 21 , 0 9 0 N/ A


2 Check ^ Li It the foundation is not required to attach Sch B
and temporary
3 t estments s
cash i nv 421,529. 421,529. TATEMENT 1
4 Dividends and interest from securities 11,726,154 . 11,726 , 154. TATEMLNT 2
5a Gross rents
b Net rental Income or (loss)

6a Net gain or (loss) from sale of assets not on line 10 31,543,649.


b Gross sales price for all 451 533 , 267. 1
assets on line 6a /
y 7 Capital gain net Income (from Part IV, line 2) 31,543,649.
cc 8 Net short -term capital gain [;}
9 Income modifications
Gross sales less returns
10a and allowances

b Less Cost of goods sold

c Gross profit or (loss)


11 Other income 3 , 493. 0. S TATEMENT
12 Total . Add lines 1 throu g h 11 115 , 015 , 915 . 43 , 691 , 332 .
13 Compensation of officers , directors , trustees, etc 9 5 , 111 . 0 . 95,111
14 Other employee salaries and wages 9 4 , 10 4 . 0. 9 4 10 4 .
4 15 Pension plans , employee benefits 28, 575 . 0. 28,575 .
to
ray 16a Legal fees STMT 4 34 , 814. 17,407. 17,407.
^dCL b Accounting fees STMT 5 10,000. 10 , 000. 0.
:::W c Other professional fees STMT 6 5, 899 . 0. 5,899 .
_> 17 Interest
1 2 18 Taxes STMT 7 458, 669. 0. 16,176.
19 Depreciation and depletion 41 , 812 . 0 .
Ur E20 Occupancy 82,676. 0. 82,676.
2
s 4 21 Travel, conferences , and meetings 7 , 930 . 0. 7 , 930 .
22 Printing and publications 128 . 0 . 12 8 .
a 23 Other expenses STMT 8 29,251. 9,923. 13,273.
ci
24 Total operating and administrative
a expenses . Add lines 13 through 23 888 , 969 . 37 3 3 0. 361 2 7 9.
0
25 Contributions , gifts, grants paid 12 , 884, 837 . 12,884,837.
26 Total expenses and disbursements.
Add lines 24 and 25 13 773 806. 37 , 330. 13 246 116.
27 Subtract line 26 from line 12
a Excess of revenue over expenses and disbursements 101,242,109 .

b Net Investment Income ( if negative, enter -0-) 43,654,002.


c Ad j usted net Income Itn egative, enter -0- NSA
LHA For Privacy Act and Paperwork Reduction Act Notice , see the Instructions. Form 990-PF (2007)
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Form 990-PF (20071 CART, & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Pane2
Attached schedule, andamounts Inthedescripbon Beginning of year End of year
P ^} B a l ance Sh ee t s column should beforend -of-year amounts only (a) Book Value (b) Book Value (c) Fair Market Value
1 Cash - non-Interest-bearing 88 , 046. 145,548. 145,548.
2 Savings and temporary cash investments 49,447,453. 100,415,876. 10 0, 15,876.
3 Accounts receivable ^
Less allowance for doubtful accounts ^
4 Pledges receivable ^
Less. allowance for doubtful accounts ^
5 Grants receivable
6 Receivables due from officers, directors, trustees, and other
disqualified persons
7 Oft notes and loans receivable

Less allowance for doubtful accounts ^


8 Inventories for sale or use
9 Prepaid expenses and deferred charges 2 , 950. 2,950. 2,950.
10a Investments - U S and state government obligations STMT 10 203,354 , 089. 207,383,982. 209,732 , 130.
b investments - corporate stock STMT 11 0. 141F000,012. 12,804,800.
c Investments - corporate bonds
11 Investments - land buildings, and equipment basis ^

Less. accumulated depreciation ^


12 Investments - mortgage loans
13 Investments - other
14 Land, buildings, and equipment basis ^ 947,887.
Less accumulated depreciation STMT 1210- 137,149. 699. 810,738. 810 , 738.
15 Other assets (describe ^ STATEMENT 13 ^ 80 ; 800. 0. 0.

16 Total assets to be com p leted by all filers 252 , 974 , 037. 322 , 759 , 106. 323 , 912 , 042.
17 Accounts payable and accrued expenses
18 Grants payable
19 Deferred revenue
20 Loans from officers, directors, trustees , and other disqualified persons
tLu 21 Mortgages and other notes payable
J 22 Other liabilities (describe ^

23 Total liabilities ( add lines 17 throu g h 22 ) 0. 0.


Foundations that follow SFAS 117, check here ^
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted
25 Temporarily restricted
m 26 Permanently restricted
Foundations that do not follow SFAS 117, check here ^ 0
LL and complete lines 27 through 31.
Y 27 Capital stock, trust principal, or current funds 29,046,392. 29,046,392 .
28 Paid-in or capital surplus, or land, bldg , and equipment fund 0. 0 .
29 Retained earnings, accumulated income, endowment, or other funds 223 , 927 , 645. 293 , 712,714 .
Z 30 Total net assets or fund balances 252 974 037. 322,759,106.

31 Total liabilities and netassets /fund balances 252 , 974 , 037. 322 , 759 , 106 .
p ^^f 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) 111252,974,037.
2 Enter amount from Part I, line 27a 2 101,242,109.
3 Other increases not included in line 2 (itemize) ^
4 Add lines 1, 2, and 3 354,216,146.
5 Decreases not Included in line 2 (itemize) ^ SEE STATEMENT 9 31,457,040.
6 Total net assets or fund balances at end of year (line 4 minus line 5) - Part II, column line 30 322,759,106.
Form 990-PF (2007)
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Form990-PF(2007) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Pag e 3
Part tV Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind (s) of property sold (e g , real estate, (b How acquired ( c) Date acquired ( d) Date sold
- Purchase ( mo , day , yr) (mo , day, yr )
2-story buck warehouse , or common stock, 200 shs MLC Co ) D - Donation
la
b SEE ATTACHED STATEMENT
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
b
C
d
e 451,533,267. 419,989,618. 31,543,649.
Complete only for assets showing gain in column ( h) and owned by t he foundation on 12/31 /69 (I) Gains ( Col (h) gain minus
(J ) Adjusted basis (k) Excess of col (i) col (k), but le ss th an -0-) or
( i ) F M V as of 12/31/69 as of 12/31/69 over col (I), if any (f rom col

a
b
C
d
e 31,543,649.
t If Pain,;also enter in Part I , line 7 } 31 , 543 , 649.
2 Capital gain net income or ( net capital loss ) If loss , enter -0- in Part I , line 7 2
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 N/A
I Part V I 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? Yes M 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 instructions before making any entries

Base period years ( b)


qualifying distributions
(c)
Net value of nonchantable - use assets Distribution ratio
Calendar year or tax year be mmn in ) (col (b) divided by col (c))
2006 9,794 258. 212,735,342. .046040
2005 6,706,051. 170 221,426. .039396
2004 3,345,224. 155,208 719. .021553
2003 6,809,240. 148,563,393. .045834
2002 7 700 592. 139 233 371. .055307

2 Total of line 1, column (d) 2 .208130


3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5 , or by the number of years
the foundation has been in existence if less than 5 years 3 .041626

4 Enter the net value of nonchardable -use assets for 2007 from Part X , line 5 4 266,811 ,033.

5 Multiply line 4 by line 3 5 11,106,276.

6 Enter 1 % of net investment income ( 1% of Part I , line 27b) 5 436 , 540.

7 Add lines 5 and 6 7 11,542,816.

8 Enter qualifying distributions from Part XII , line 4 8 13,246,116.


If line 8 is equal to or greater than line 7, check the box in Part VI, line 1 b, and complete that part using a 1% tax rate
See the Part VI instructions
723521/02-20-08 Form 990-PF (2007)
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Form 990-PF (2007) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04- 6135027 Page4
Pert Vl Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 - see instructions)
1 a Exempt operating foundations described in section 4940(d)(2), check here ^ 0 and enter 'N/A' on line 1.
Date of ruling letter ( attach copy of ruling letter if necessary-see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check here ^ EX and enter 1% 1 436,540.
of Part I, line 27b
c All other domestic foundations enter 2% of line 27b Exempt foreign organizations enter 4% of Part I, line 12, col (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) 2 0.
3 Add lines 1 and 2 3 436,540.
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) 4 0.
5 Tax based on Investment Income . Subtract line 4 from line 3 If zero or less, enter -0- 5 436,540.
6 Credits/Payments
a 2007 estimated tax payments and 2006 overpayment credited to 2007 6a 442,218.
b Exempt foreign organizations - tax withheld at source _ 6b
c Tax paid with application for extension of time to file (Form 8868) 6c
d Backup withholding erroneously withheld 6d
7 Total credits and payments Add lines 6a through 6d 7 442,218.
8 Enter any penalty for underpayment of estimated tax Check here if Form 2220 is attached 8 4,931.
9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amount owed ^ 9
10 Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid ^ 10 747 .
11 Enter the amount of line 10 to be Credited to 2008 estimated tax ^ 7 4 7 . 1 Refunded ^ 11 0.
Part VII-A Statements Regarding Activities
1 a During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in Yes No
any political campaign? 1a X
b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition)? lb X
If the answer is "Yes" to 1 a or 1 b, attach a detailed description of the activities and copies of any materials published or
distributed by the foundation in connection with the activities.
c Did the foundation file Form 1120 -POL for this year? 1c X
d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year
(1) On the foundation ^ $ 0. (2) On foundation managers ^ $ 0.
e Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed on foundation
managers ^ $ 0.
2 Has the foundation engaged in any activities that have not previously been reported to the IRS? 2 X
If "Yes," attach a detailed description of the activities.
3 Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or
bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes 3 X
4a Did the foundation have unrelated business gross income of $1,000 or more during the year? 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 year? 5 X
If "Yes, " attach the statement required by General Instruction T.
6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either
• By language in the governing instrument, or
• By state legislation that effectively amends the governing instrument so that no mandatory directions that conflict with the state law
remain in the governing instrument? 6 X
7 Did the foundation have at least $5,000 in assets at any time during the year? 7 X
If "Yes," complete Part fl, col. (c), and Part XV.
8a Enter the states to which the foundation reports or with which it is registered (see instructions) ^
MA
b If the answer is 'Yes'to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate)
of each state as required by General Instruction G? If "No, " attach explanation 8b X
9 Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(I)(5) for calendar
year 2007 or the taxable year beginning in 2007 (see instructions for Part XIV)? If "Yes," complete Part XIV 9 X
10 Did any persons become substantial contributors during the tax year? If 'Yes.* attach a schedule listing their names and addresses 10 X
Form 990-PF (2007)

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Form 990 -PF (2007) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Page 5
Part allA Statements Regarding Activities (continued)
11a At any time during the year , did the foundation , directly or indirectly , own a controlled entity within the meaning of section 512(b)(13)?
it 'Yes,* attach schedule (see instructions) 11a X
b if 'Yes ,' did the foundation have a binding written contract in effect on August 17, 2006, covering the interest, rents , royalties, and
annuities described in the attachment for line 1la' N/A 11b
12 Did the foundation acquire a direct or indirect interest in any applicable insurance contracts 12 X
13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? 13 X
Websiteaddress ^ WWW.SHAPIROFAMILYFDN.ORG
14 The books are in care of ^ WELLESLEY CAPITAL MANAGEMENT, INC. Telephone no ^ (7 81) 2 35 -610 7
Locatedat ^ ONE WASHINGTON STREET, SUITE 202, WELLESLEY, MA ZIP+4 ^ 02481
15 Section 4947 (a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 - Check here ^
and enter the amount of tax-exem pt interest received or accrued durin g the year ^ 15 N/A
Part VU-B 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 During the year did the foundation (either directly or indirectly)
(1) Engage in the sale or exchange , or leasing of property with a disqualified person? 0 Yes [K] No
(2) Borrow money from , lend money to, or otherwise extend credit to (or accept it from)
a disqualified persons 0 Yes [I No
(3) Furnish goods , services , or facilities to ( or accept them from ) a disqualified person? _ Yes 0 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 EI No
(6) Agree to pay money or property to a government officials ( Exception . Check "No'
if the foundation agreed to make a grant to or to employ the official for a period after
termination of government service , if terminating within 90 days ) Yes 0 No
b If any answer is 'Yes'to la ( 1)-(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53 4941 (d)-3 or in a current notice regarding disaster assistance ( see page 22 of the instructions )? N/A 1b
Organizations relying on a current notice regarding disaster assistance check here ^
c Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts, that were not corrected
before the first day of the tax year beginning in 2007? 1c X
2 Taxes on failure to distribute income ( section 4942) (does not apply for years the foundation was a private operating foundation
defined in section 4942( l)(3) or 4942 (j)(5))*
a At the end of tax year 2007, did the foundation have any undistributed income ( lines 6d and 6e, Part XIII ) for tax year( s) beginning
before 2007' = Yes No
If 'Yes' list the years ^
b Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942 ( a)(2) (relating to incorrect
valuation of assets ) to the year' s undistributed income? (If applying section 4942 ( a)(2) to all years listed , answer "No ' and attach
statement - see instructions .) N/A 2b
c If the provisions of section 4942 (a)(2) are being applied to any of the years listed in 2a, list the years here

3a Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time
during the year? Yes M No
b If 'Yes ' did it have excess business holdings in 2007 as a result of (1) any purchase by the foundation or disqualified persons after
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 penod' (Use Schedule C,
Form 4720, to determine if the foundation had excess business holdings In 2007.) N/A 3b
4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? 4a X
b Did the foundation make any investment in a prior year ( but after December 31, 1969) that could jeopardize its charitable purpose that
X
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CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027
! Part VII-B I Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a Dunng the year did the foundation pay or incur any amount to
(1) Carry on propaganda , or otherwise attempt to influence legislation (section 4945 (e))? 0 Yes 0 No
(2) Influence the outcome of any specific public election (see section 4955 ), or to carry on , directly or indirectly,
any voter registration dnve? = Yes EXI
No
(3) Provide a grant to an individual for travel , study, or other similar purposes =Yes 0 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 0 No
(5) Provide for any purpose other than religious , charitable , scientific , literary , or educational purposes, or for
the prevention of cruelty to children or animals? = Yes M 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 here ^0
c If the answer is'Yes'to question 5a(4), does the foundation 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 foundation , during the year , receive any funds , directly or indirectly , to pay premiums on
a personal benefit contract? Yes No
b Did the foundation , during the year , pay premiums , directly or indirectly, on a personal benefit contract? 6b X
If you answered " Yes" to 6b, also file Form 8870.
7a At any time during the tax year , was the foundation a party to a prohibited tax shelter transaction? Yes 0 No
b If ves . did the foundation receive any proceeds or have any net income attributable to the transaction? N/A 7b

Infoaidati Officers, Directors, Trustees, Foundation Managers, Highly


p VIII About
Employees
1 List all officers. directors . trustees . foundation managers and their compensation.
(b) Title, and average (c) Compensation (d)contnbutonsto (e) Expense
o^eAeneft Wns
(a) Name and address hours per week devoted If not aid , account, other
to p osition ( enter p0 caon aed allowances

SEE STATEMENT 14 95,111. 12 , 079. 0.

2 Gomoensation of live mahest-paid emulovees (other than those included on line 1). It none. enter "NONE."
(b) Title and average (d) Con t oIto (e) Exp ense
(a) Name and address of each employee paid more than $50,000 hours per week (c) Compensation ,ndele,ed account, other
devoted to p osition comvensauon allowances
NONE

Total number of other employees paid over $50,000 ^ I U


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Form 990-PF (2007) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Pagel
Information About Officers, Directors , Trustees , Foundation Managers , Highly
Pa>'t Ytli Paid Employees, and Contractors (continued
3 'Five highest - paid independent contractors for professional services. If none , enter " NONE."
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE

Total number of others receivin g over $50 ,000 for p rofessional services 0
{ Part IX-A I Summary of Direct 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 organizations and other beneficiaries served , conferences convened , research papers produced, etc
N/A

I Part IX- B I Summary of Proaram - Related Investments


Describe the two largest program - related investments made by the foundation during the tax year on lines 1 and 2 Amount
1 N/A

All other program - related investments See instructions


3

Total . Add lines 1 throu g h 3 0 .


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Form 990-PF (2007 ) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-61350 27 Page 8

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

1 ' Fair market value of assets not used ( or held for use ) directly in carrying out charitable , etc , purposes
a Average monthly fair market value of securities 1a 197 , 983 , 139.
b Average of monthly cash balances 1b 72 , 820,018 .
c Fair market value of all other assets 1c 70 , 988 .
d Total ( add lines la , b, and c ) 1d 270, 874, 145.
e Reduction claimed for blockage or other 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 l d 3 270 , 874,145 .
4 Cash deemed held for charitable activities Enter 1 1/2% of line 3 (for greater amount , see instructions ) 4 , 063 , 112 .
4
5 Net value of noncharitable -use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4 5 266 , 811 , 033 .
6 Minimum Investment return . Enter 5 % of line 5 6 13,340,552 .
Foii m Distributable Amount (see instructions) (Section 4942(j)(3) and (I)(5) private operating foundations and certain
foreign organizations check here ^ 0 and do not complete this part )
1 Minimum investment return from Part X, line 6 1 13 , 340,552.
2a Tax on investment income for 2007 from Part VI, line 5 2a 436,540.
b Income tax for 2007 (This does not include the tax from Part VI) 2b
c Add lines 2a and 2b 2c 436 , 540.
3 Distributable amount before adjustments Subtract line 2c from line 1 3 12 , 904,012 .
4 Recoveries of amounts treated as qualifying distributions 4 0 .
5 Addlines3and4 5 12 , 904,012 .
6 Deduction from distributable amount (see instructions) 6 0
7 Distributable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII, line 1 7 12 , 904 , 012 .
Part XIl 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 13 , 246 , 116.
b Program-related investments -total from Part IX-B 1b 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 protects that satisfy the
a Suitability test (prior IRS approval required) 3a
b Cash distribution test (attach the required schedule) 3b
4 Qualifying distributions . Add lines la through 3b. Enter here and on Part V, line 8, and Part XIII, line 4 4 13 , 246,116.
5 Foundations that quality under section 4940(e) for the reduced rate of tax on net investment
income Enter 1% of Part I, line 27b 5 436 , 540.
6 Adjusted qualifying distributions . Subtract line 5 from line 4 6 12 , 809 , 576.
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.
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Fomm990-PF(2007) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Page9


part X11iG Undistributed Income (see instructions)

(a) (b) (c) (d)


Corpus Years prior to 2006 2006 2007
1 Distributable amount for 2007 from Part XI,
line? 12,904 , 012.
2 Undistributed Income , If any, as of the end of 2006

a Enter amount for 2006 only 0


b Total for prior years
0.
3 Excess distributions ca rryover, If any, to 2007
a From 2002 1 , 054 , 439.
b From 2003
c From 2004
d From 2005
eFrom2006 354 505.
I Total of lines 3a throug h e 1 , 408,944.
4 Qualifying distributions for 2007 from
Part XII, line 4 ^ $ 13 2 4 6 116 .
a Applied to 2006, but not more than line 2a 0
b Applied to undistributed income of prior
years (Election required - see instructions) 0.
c Treated as distributions out of corpus
(Election required - see instructions) 0
d Applied to 2007 distributable amount 12,904,012.
e Remaining amount distributed out of corpus 342,104.
5 Excess distributions carryover applied to 2007 0. 0
(if an amount appears In column (d), the same amount
must be shown In column (a) )

6 Enter the net total of each column as


indicated below:
a Corpus Add lines 3f, 4c, and 4e Subtract line 5 1
( 751 , 048 .
b Prior years' undistributed income Subtract
line 4b from line 2b 0.
c Enter the amount of prior years'
undistributed income for which a notice of
deficiency has been issued, or on which
the section 4942(a) tax has been previously
assessed 0.
d Subtract line 6c from line 6b Taxable
amount - see instructions 0
e Undistributed income for 2006 Subtract line
4a from line 2a Taxable amount - see instr 0
f Undistributed income for 2007 Subtract
lines 4d and 5 from line 1 This amount must
be distributed in 2008 0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) 0 .
8 Excess distributions carryover from 2002
not applied on line 5 or line 7 1 , 054 , 439.
9 Excess dIstributions carryover to 2008.
Subtract lines 7 and 8 from line 6a 696 , 609.
10 Analysis of line 9
a Excess from 2003
b Excess from 2004
c Excess from 2005
d Excess from 2006 354 , 505.
e Excess from 2007 342 , 104.
Form 990-PF (2007)
723581
02-20-08
Form 990-PF ( 2007 ) CARL & RUTH SH APIRO FAMILY FO UNDATION 04-6135027 Page 10
P V Private 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 operating
foundation , and the ruling is effective for 2007 , enter the date of the ruling ^
b Check box to indicate whether the foundation is a p rivate o eratm foundation described in section 4942 (1)( 3 ) or 0 4942h)(5)
2 a Enter the lesser of the adjusted net Tax year Prior 3 years
income from Part I or the minimum ( a) 2007 ( b) 2006 ( c) 2005 ( d) 2004 (e) Total
investment return from Part X for
each year listed
b 85% of line 2a
c Qualifying distributions from Part XII,
line 4 for each year listed
d Amounts included in line 2c not
used directly for active conduct of
exempt activities
e Qualifying distributions made directly
for active conduct of exempt activities
Subtract line 2d from line 2c
3 Complete 3a , b, or c for the
alternative test relied upon
a 'Assets' alternative test - enter
(1) Value of all assets
(2) Value of assets qualifying
under section 4942 (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
(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 (I)(3)(B)(ni)
(3) Largest amount of support from
an exempt organization
( 4 ) Gross investment income
P XV 1 Supplementary Information (Complete this part only if the foundation had $5,000 or more in assets
at any time during the year- see the instructions.)
1 Information Regarding Foundation Managers:
a List any managers of the foundation who have contributed more than 2 % of the total contributions received by the foundation before the close of any tax
year ( but only if they have contributed more than $5 ,000) (See section 507(d)(2) )
SEE STATEMENT 15
b List any managers of the foundation who own 10 % or more of the stock of a corporation ( or an equally large portion of the ownership of a partnership or
other entity) of which the foundation has a 10 % or greater interest
NONE
2 Information Regarding Contribution , Grant, Gift, Loan , Scholarship , etc., Programs:
Check here ^ EXI if the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds If
the foundation makes gifts , grants , etc (see instructions) to individuals or organizations under other conditions, complete items 2a, b, c, and d
a The name , address , and telephone number of the person to whom applications should be addressed

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

c Any submission deadlines

d Any restrictions or limitations on awards , such as by geographical areas , charitable fields , kinds of institutions, or other factors

723601/02-20-08 Form 990-PF (2007)


Form 990-PF ( 2007 ) CARL & RUTH SHAP IRO FAMILY FOUNDATION 04-613 5027 Page 11
mentary Information
3 Grants and Contributions Paid Durina the Year or Anoroved for Future Payment
Recipient If recipient is an individual,
show any relationship to Foundation Purpose of grant or
any foundation manager status of contribution Amount
Name and address ( home or business ) recipient
or substantial contributor
a Paid during the year

PUBLIC
SEE SCHEDULE ATTACHED ONE CHARITIES VARIOUS 12884837.

Total ^ 3a 12884837.
b Approved for future payment

NONE

Total 1111- 3b 1 0.
723611/02-20-08 Form 990-PF (2007)
Form 990-PF (2007) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Page 12
PaftXVl-A Analysis of Income - Producing Activities
Enter cro ss amounts u nless otherwise indicated Unrelat ed business income c ai des by section 512 , 513 , or 514 (e)
(a) (b) Ex^ „_ ( d) Related or exempt
Business Amount s Amount function income
1 Pro gram service revenue. code ee
a
b
c
d
e
t
9 Fees and contracts from government agencies
2 Me mbership dues and assessments
3 Int B rest on savings and temporary cash
my estments 14 421,529.
4 Div idends and interest from securities 14 11,726 , 154.
5 Nett rental income or (loss ) from real estate
a Debt-financed property
b Not debt-financed property
6 Nett rental income or ( loss) from personal
proo perty
7 Ot h er investment income
8 Gai n or (loss ) from sales of assets other
tha ninventory 18 31,543 649.
9 Net income or ( loss) from special events
10 Gr o ss profit or ( loss) from sales of inventory
11 0th er revenue
a FEDERAL TAX OVERPAYMENT
b APPLIED 18 3 , 493.
c
d
e
12 Su ) total Add columns ( b) , (d), and (e) 0. 4 3 6 9 4 8 2 5. 0.
13 Total . Add line 12, columns (b), (d), and (e) 13 43,694,825.
(See worksheet in line 13 instructions to verify calculations

Pat XVI»I3 Relationship of Activities to the Accomplishment of Exempt Purposes


Line No . Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of
y the foundation ' s exempt purposes ( other than by providing funds for such purposes)

Form 990-PF (2007)


Form 990-PF (2007) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Pa g e 13
P X.VII Information Regarding Transfers To and Transactions and Relationships With Noncharitable

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of Yes Nc
the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
a Transfers from the reporting foundation to a nonchardable exempt organization of.
(1) Cash 1.( i ) X
(2) Other assets 1a(2)1 X
b Other transactions
(1) Sales of assets to a nonchantable exempt organization 1b 1 X
(2) Purchases of assets from a nonchantable exempt organization 1b ( 2 ) X
(3) Rental of facilities, equipment, or other assets 1 b (3 ) X
(4) Reimbursement arrangements 1b ( 4 ) X
(5) Loans or loan guarantees 1 b(5) X
(6) Performance of services or membership or fundraising solicitations 1 b ( 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 market value of the goods, ot her ass ets,
or services given by the reporting foundation If the foundation received less than fair market value in any transaction or sharing arrangement, sh ow in

2a Is the foundation directly or indirectly affiliated with , or related to , one or more tax-exempt organizations described
in section 501 ( c) of the Code ( other than section 501(c)(3 )) or in section 527? 0 Yes ® No
b If'Yes ' complete the following schedule
(a) Name of organization (b) Type of organization (c) Description of relationship
N/A

Under penalties of perjury, I declare that I have examined this return , including accompanying schedules and statements , and to the best of my knowledge and belief, it is true , correct,
and complete Declarat n of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge

d ' Signature of officer r trustee


Preparers ,
L signature
`o
p, m Firm's name (or yours KONI (-W P ER & CO
a If self-envlo v, 6440 PARK AVENUE
addrs, andZlPcode ' NEW YORK , N

723622
o2-20-08
Schedule B Schedule of Contributors OMB No 1545-0047
(Form 990 , 990-EZ,
or 990-PF) Supplementary Information for
Department of the Treasury
Internal Revenue Service
line 1 of Form 990, 990-EZ, and 990-PF (see instructions) 2007
Name of organization I Employer identification number

CARL & RUTH SHAPIRO FAMILY FOUNDATION 1 04-6135027


Organization type (check one):

Filers of: Section:

Form 990 or 990-EZ = 501 (c)( ) (enter number) organization

0 4947(a)(1) nonexempt charitable trust not treated as a private foundation

0 527 political organization

Form 990-PF 0 501(c)(3) exempt private foundation

LI 4947(a)(1) nonexempt charitable trust treated as a private foundation

LI 501(c)(3) taxable pnvate foundation

Check if your organization is covered by the General Rule or a Special Rule. (Note : Only a section 501(c)(7), (8), or (10) organization can check boxes
for both the General Rule and a Special Rule-see Instructions.)

General Rule-

EKI organizations filing Form 990 , 990-EZ , or 990- PF that received , during the year, $5,000 or more (in money or property) from any one
contributor . (Complete Parts I and II.)

Special Rules-

For a section 501(c)(3) organization filing Form 990 , or Form 990 - EZ, that met the 33 1/3% support test of the regulations under
sections 509 (a)(1)/170 (b)(1)(A)(vl), and received from any one contributor , during the year , a contribution of the greater of $5,000 or 2%
of the amount on line 1 of these forms . (Complete Parts I and II.)

For a section 501 (c)(7), (8), or (10) organization filing Form 990, or Form 990 - EZ, that received from any one contributor , during the year,
aggregate contributions or bequests of more than $ 1,000 for use exclusively for religious , charitable , scientific , literary, or educational
purposes , or the prevention of cruelty to children or animals . (Complete Parts I. II, and III.)

For a section 501 (c)(7), (8), or ( 10) organization filing Form 990 , or Form 990 - EZ, that received from any one contributor , during the year,
some contributions for use exclusively for religious , charitable , etc., purposes, but these contributions did not aggregate to more than
$1,000 . ( If this box is checked, enter here the total contributions that were received during the year for an exclusively religious,
charitable , etc., purpose . Do not complete any of the Parts unless the General Rule applies to this organization because it received
nonexclusively religious , charitable , etc., contributions of $5,000 or more during the year.) ^ $

Caution : Organizations that are not covered by the General Rule and/or the Special Rules do not file Schedule B (Form 990, 990-EZ, or 990-PF), but
they must check the box in the heading of their Form 990, Form 990-EZ, or on line 2 of their Form 990-PF, to certify that they do not meet the filing
requirements of Schedule B (Form 990, 990-EZ, or 990-PF).

LHA For Paperwork Reduction Act Notice, see the Instructions Schedule B (Form 990 , 990-EZ, or 990 -PF) (2007)
for Form 990, Form 990-EZ, and Form 990-PF.

723451 12-27-07
5 of Pen i
Name of organization Employer Identification number

& RUTH SHAPIRO FAMILY FOUNDATION 04-613502

P I Contributors (See Specific Instructions.)

(a) (b) (c) (d)


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

1 CARL S HAP I RO Person 0


Payroll
2 NORTH BREAKERS ROW #45 $ 4,120,643. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

2 RUTH SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 12,945,654. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

3 SHAPIRO FAMILY CHARITABLE LEAD TRUST Person


Payroll
C/0 ONE WASHINGTON STREET, STE 202 $ 14,077,399. Noncash
(Complete Part II if there
WELLESLEY, MA 02481 is a noncash contribution.)

(a) (b) (c) (d)


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

4 CARL SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 2,497,190. Noncash OX
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

5 RUTH SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 2,583,300. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

6 RUTH SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 117,887. Noncash EX
(Complete Part II if there
PALM BEACH, FL 33480 is a noncash contribution.]
7 17 1 9 - 9 7.n7 Schedule B (Form 9 90 . 990-EZ . or 990 - PF) (2007)
Schedule B (Form 990, 990-EZ or 5 of Part i

Name oforganization Employer Identification number

CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-61350

Rare I Contributors (See Specific Instructions.)

(a) (b) (c) (d)


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

7 CARL SHAPIRO Person El


Payroll
2 NORTH BREAKERS ROW #45 $ 677,400. Noncash OX
(Complete Part II if there
PALM BEACH, FL 33480 is anoncashcontnbution.)

(a) (b) (c) (d)


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

8 CARL SHAPIRO Person 0


Payroll Q
2 NORTH BREAKERS ROW #45 $ 879,400. Noncash M
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

9 RUTH SHAPIRO Person El


Payroll
2 NORTH BREAKERS ROW #45 $ 1,823,760. Noncash EXI
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

10 CARL SHAPIRO Person 0


Payroll El
2 NORTH BREAKERS ROW #45 $ 414,909. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution

(a) (b) (c) (d)


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

11 CARL SHAPIRO Person El


Payroll
2 NORTH BREAKERS ROW #45 $ 1,403,928. Noncash EXI
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution ;

(a) (b) (c) (d)


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

12 CARL SHAPIRO Person 0


Payroll Q
2 NORTH BREAKERS ROW #45 $ 2,634,800. Noncash 0
(Complete Part II if there
PALM BEACH, FL 33480 isanoncashcontnbution.;
723452 1 2_507_m Schedule B (Form 9 90. 990-EZ. or 990-PF) (20071
Schedule B (Form 990. 991 3 of 5 of Pen
Name of organization Employer Identification number

CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6 135027


Part I Contributors (See Specific Instructions.)

(a) (b) (c) (d)


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

13 CARL S HAP I RO Person 0


Payroll Q
2 NORTH BREAKERS ROW #45 $ 1,302,480. Noncash OX
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

14 CARL SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 4,161,600. Noncash OX
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

15 RUTH SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 1,156,000. Noncash EKI
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

16 CARL S HAP I RO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 2,180,800. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contnbution.)

(a) (b) (c) (CO


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

17 RUTH SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 1,090,400. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

18 CARL S HAP I RO Person 0


Payroll
2 NORTH BREAKERS ROW #45 $ 1,412,010. Noncash 0
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.;
72gas2 „_„-n, Schedule B (Form 9 90 . 990-EZ . or 990 - PF) (20071
4 or 5 or P
Name otbrganizatlon Employer identif ication number

& RUTH SHAPIRO FAMILY FOUNDATION 04- 6135027

Part I Contributors (See Specific Instructions.)

(a) (b) (c) (d)


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

19 RUTH SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 1,314,630. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

20 CARL S HAP I RO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 4,752,000. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contnbution.)

(a) (b) (c) (d)


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

21 RUTH SHAPIRO Person 0


Payroll Q
2 NORTH BREAKERS ROW #45 $ 2,851,200. Noncash FR
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

22 CARL SHAPIRO Person U


Payroll
2 NORTH BREAKERS ROW #45 $ 923,125. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contribution.)

(a) (b) (c) (d)


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

23 RUTH SHAPIRO Person U


Payroll U
2 NORTH BREAKERS ROW #45 $ 923,125. Noncash
(Complete Part II if there
PALM BEACH, FL 33480 isanoncashcontnbution.)

(a) (b) (c) (d)


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

24 CARL SHAPIRO Person 0


Payroll 0
2 NORTH BREAKERS ROW #45 $ 1,384,400. Noncash OX
(Complete Part II if there
PALM BEACH, FL 33480 is a noncash contribution.)
793457 „_„_fl, Schedule B (Form 9 90. 990-EZ. or 990 - PF) (20071
Schedule B (Form 990, 990•E7, or 990-PF) (2007) Page 5 of 5 of Part I

Name of organization Employer Identification number

CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-61 35027


Pad I Contributors (See Specific Instructions.)

(a) (b) (c) (d)


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

25 RUTH SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 2,076,600. Noncash EXI
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contnbution.)

(a) (b) (c) (d)


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

26 RUTH SHAPIRO Person


Payroll Q
2 NORTH BREAKERS ROW #45 $ 727,650. Noncash
(Complete Part II if there
PALM BEACH, FL 3 3 4 8 0 is a noncash contnbution.)

(a) (b) (c) (d)


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

27 RUTH SHAPIRO Person


Payroll
2 NORTH BREAKERS ROW #45 $ 888,800. Noncash OX
(Complete Part II if there
PALM BEACH, FL 334 80 is a noncash contnbution.)

(a) (b) (c) (CO


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

Person
Payroll
$ Noncash
(Complete Part II if there
is a noncash contribution

(a) (b) (c) (d)


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

Person
Payroll
$ Noncash
(Complete Part II if there
is a noncash contnbution.;

(a) (b) (c) (d)


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

Person
Payroll
$ Noncash
(Complete Part II if there
is a noncash contnbution.)
723452 12-27-07 Schedule B (Form 9 90 . 990-EZ. or 990 - PF) (20071
Schedule B (Form 990, 990-E7, or 1 of 4 of Part ll
Name oForganization Employer identification number

& RUTH SHAPIRO FAMILY FOUNDATION 04-6135027


Part It Noncash Property (See Specific Instructions.)
(a) (c)
FMV (or estimate)
ffrom Description of noncash property given Date received
(see instructions)
Part I
58,000 SHS AETNA
4

$ 2,497,190. 01/02/07

(a) (c)
No. (b) (d)
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
60,000SHS AETNA
5

$ 2,583,300. 01/02/07

(a) (c)
No.
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
2,200 SHS BANK OF AMERICA
6

$ 117,887. 01/02/07

(a) (c)
No.
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
40,000 SHS XEROX
7

$ 677,400. 01/02/07

(a) (c)
No.
FMV (or estimate)
from Description of noncash property given Date received
eived
(see instructions)
Part I
20,000 SHS COACH
8

$ 879,400. 01/02/07

(a) (c)
No. (d)
(b) FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
81,600 SHS NEWS CORP
9

$ 1,823,760. 01/02/07
723453 12-27-07 Schedule B (Form 990 , 990-EZ , or 990 -PF) (2007)
Schedule B (Form 990, 99 2 of 4 o f Part II
Name oforganization Employer identification number

CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027


P It Noncash Property (See Specific Instructions.)

(a) (c)
FMV (or estimate)
fom Description of noncash property given Date received
(see instructions)
Part I
12,456 SHS KRAFT
10

$ 414,909. 05/24/07

(a)
No. (c) (d)
(b) FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
61,200 SHS NEWS CORP
11

$ 1,403,928. 05/24/07

(a) (c)
No. (b) (d)
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
40,000 SHS REYNOLDS AMERICA
12

$ 2,634,800. 05/24/07

(a) (c)
No. (d)
(b) FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
18,000 SHS ALTRIA CORP
13

$ 1,302,480. 11/01/07

(a)
No. (c)
(b)
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
90,000SHS BANK OF AMERICA
14

$ 4,161,600. 11/01/07

(a)
No. (c)
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
25,000 SHS BANK OF AMERICA
15

$ 1,156,000. 11/01/07
723453 12-27-07 Schedule B (Form 9 90 . 990-EZ. or 990 - PF) (2007)
Schedule B (Form 990, 990-EZ, or 990- 3 of 4 of Pert u
Name of• organization Employer identification number

CARL & RUTH SHAPIRO FAMILY FOUNDATION 104-6135027

Part 11 Noncash Property (See Specific Instructions.)

(a) (c)
No. (b) (d)
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part 1
40,000 SHS ABBOTT LAB
16

$ 2,180,800. 11/01/07

(a) (c)
No. (b) (d)
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part 1
20,000 SHS ABBOTT LAB
17

$ 1,090,400. 11/01/07

(a) (c)
No. (b) (CO
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part
34,800 SHS GENERAL ELECTRIC
18

$ 1,412,010. 11/01/07

(a) (c)
No. (b) FMV (or estimate) (d)
from Description of noncash property given Date received
(see instructions)
Part I
32,400 SHS GENERAL ELECTRIC
19

$ 1,314,630. 11/01/07

(a) (c)
No. (b) (CQ
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
50,000 SHS HARTFORD FINANCIAL
20

$ 4,752,000. 11/01/07

(a) (c)
No.
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
30,000 SHS HARTFORD FINANCIAL
21

$ 2,851,200. 11/01/07
„'Ids, ,,.,,_m Schedule B (Form 990 . 990-EZ . or 990 - PF) (2007)
Schedule B (Form 990, 991 4 of 4 of Pert u
Name of organization Employer Identification number

& RUTH SHAPIRO FAMILY FOUNDATION 04-61 35027


Part It Noncash Property (See Specific Instructions.)

(a) (c)
No. (b) (d)
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
25,000 SHS MICROSOFT
22

$ 923,125. 11/01/07

(a) (c)
No. (b) (CQ
FMV (or estimate)
from Description of noncash property given Date received
(see instructions)
Part I
25,000 SHS MICROSOFT
23

$ 923,125. 11/01/07

(a) (c)
No. (b) FMV (or estimate) (CO
from Description of noncash property given Date received
(see instructions)
Part I
20,000SHS PROCTER & GAMBLE
24

$ 1,384,400. 11/01/07

(a)
No. (c)
(b) (d)
from ( FMV (or estimate)
Description of noncash property given Date received
(see instructions)
Part 1
30,000 SHS PROCTER & GAMBLE
25

$ 2,076,600. 11/01/07

(a)
No. (c)
from FMV (or estimate)
Description of noncash property given Date received
Part I (see instructions)

30,000 SHS PFIZER INC.


26

$ 727,650. 11/01/07

(a)
No. (c)
from FMV (or estimate)
Description of noncash property given Date received
Part I (see instructions)

20,000 SHS WAL-MART STORES


27

$ 888,800. 11/01/07
723453 12-27-07 Schedule B (Form 990 , 990-EZ, or 990 -PF) (2007)
CONTINUATION FOR 990-PF, PART IV
CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 PAGE 1 OF 1
Pad PSI Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind ( s) of property sold, e g , real estate , ( b How acquired ( c) Date acquired (d) Date sold
Purc h ase (mo , day, yr ) (mo , day, yr )
2-story brick warehouse , or common stock, 200 shs MLC Co D-
ia'BERNARD MADOFF ACCT #191-3 STOCKS P VARIOUS VARIOUS
b BERNARD MADOFF ACCT #191-3 US TREAS P VARIOUS VARIOUS
c BERNARD MADOFF ACCT #193-3 STOCKS P VARIOUS VARIOUS
d MADOFF ACCT # 25-2 FHLB 7/11/07 4.05% P VARIOUS VARIOUS
e MADOFF ACCT #188-3 US TREAS BILLS P VARIOUS VARIOUS
f MADOFF ACCT # 25-3 US TREAS BILLS P VARIOUS VARIOUS
29500000 FED HOME LOAN BANK 4.0% 3/280/ P
h

m
n
0
( 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 49,586 015. 37,907,486. 11 678 529.
b 529,658. 529 658. 0.
c 21,716 736. 1,853 398. 19 863,338.
d 6 , 000 , 000. 6 , 000 , 000. 0.
e 63 275 000. 63 275 000. 0.
f 280,925 858. 280,924 076. 1 , 782.
29,500 000. 29,500 000. 0.
h

m
n
0
C omplete only for assets showing gain in column ( h) and owned by the foundation on 12/31/69 (I) Losses (from col (h))
(1) Adjusted basis ( k) Excess of col (I) Gains (excess of col ( h) gain over col (k),
(1) F M V as of 12/31/69 as of 12/31/69 over col (j), if any but not less than '-02)

a 11 678 529.
b 0.
c 19 863,338.
d 0.
e 0.
f 1 , 782.
0.
h

k
I
m
n
0
ss)a lso enter in Part I, Ilne 7 1
(loain, 2
2 Capital gain net income or ( net capital loss)) If loss , enter"-021n Part I , line 7 1 31 , 543,649.
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 N/A

723591
04-27-07
2007 DEPRECIATION AND AMORTIZATION REPORT
FORM 990-PF PAGE 1 990-PF

reset Date Line Unadjusted Bus % Reduction In Basis For Accumulated Current Current Year
No Description Acquired Method Life No Cost Or Basis Excl Basis Depreciation Depreciation Sec 179 Deduction

1 FURNITURE AND FIXTURES 12 15 02 00D .00 16 4,882. 4,882. 4,591. 107.

2 EQUIPMENT 12 11 06 200D1 .00 16 430. 430. 22. 1-63.

3 FFICE RENOVATION 12 15 02 00D .00 16 31,637. 31,637. 31,637. 0.

4 S"P"ICE EQUIPMENT 11 1 02 00b .00 16 1,290.. 1+29O. 1.290. 0.

5 FFICE EQUIPMENT 01 14 03 00D .00 16 6,036. 6,036. 6,036. 0.

V 1.iURE AND T !XTURE 3. 0 0D ♦00 16 51t761A 51r7 61. 5 1,761• 0 .

7 EQUIPMENT 03 06 07 00D .00 19 51,988. 51,988. 10,398.

QU'IPMENT 09 12 07 00D .00 19 28#125. 28x125. 5.625.

9 OMPUTERS 11 06 07 00D .00 19 8,985. 8,985. 1,797.

10 LEASEHOLD IMPROVEMENT 07 01 07 SL 39.00 191 650,183. 650x183. 7x641.

11 FURNITURE AND FIXTURES 07 01 07 00D 7.00 19C 112,570. 112,570. 16,081.


TOTAL 99.0-PF PG 1
EPA 947x887. 0, 947x887. 95,337. 0. 41x812.

728102
04-27-07 (D) - Asset disposed • ITC, Section 179, Salvage, Bonus, Commercial Revitalization Deduction, GO Zone
CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027

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

SOURCE AMOUNT

MORGAN CD 93,633.
MORGAN PREMIER 320,272.
MORGAN-SWEEP 7,624.

TOTAL TO FORM 990-PF, PART I, LINE 3, COLUMN A 421,529.

FORM 990-PF DIVIDENDS AND INTEREST FROM SECURITIES STATEMENT 2

CAPITAL GAINS COLUMN (A)


SOURCE GROSS AMOUNT DIVIDENDS AMOUNT

LEHMAN CORP INTEREST 193,333. 0. 193,333.


LEHMAN DIVIDENDS 69,196. 0. 69,196.
MADOFF US INT SH025-2 541,500. 0. 541,500.
MADOFF US INT SH025-3 5,106,671. 0. 5,106,671.
MADOFF US INT SH188-3 1,193,444. 0. 1,193,444.
MADOFF US INT SH191-3 529,658. 0. 529,658.
MADOFF- DIVIDENDS SH025-3 1,124. 0. 1,124.
MADOFF- DIVIDENDS SH188-3 2,612. 0. 2,612.
MADOFF- DIVIDENDS SH191-3 35,248. 0. 35,248.
MORGAN PRIME MONEY MKT CAP 2,930,185. 0. 2,930,185.
MORGAN US GOVT OBLIG 1,098,121. 0. 1,098,121.
MORGAN US TREAS 25,062. 0. 25,062.

TOTAL TO FM 990-PF, PART I, LN 4 11,726,154. 0. 11,726,154.

FORM 990-PF OTHER INCOME STATEMENT 3

(A) (B) (C)


REVENUE NET INVEST- ADJUSTED
DESCRIPTION PER BOOKS MENT INCOME NET INCOME

FEDERAL TAX OVERPAYMENT APPLIED 3,493. 0.

TOTAL TO FORM 990-PF, PART I, LINE 11 3,493. 0.

STATEMENT(S) 1, 2, 3
CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027

FORM 990-PF LEGAL FEES STATEMENT 4

(A) (B) (C) (D)


EXPENSES NET INVEST- ADJUSTED CHARITABLE
DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSES

LEGAL FEES 34,814. 17,407. 17,407.

TO FM 990-PF, PG 1, LN 16A 34,814. 17,407. 17,407.

FORM 990 -PF ACCOUNTING FEES STATEMENT 5

(A) (B) (C) (D)


EXPENSES NET INVEST- ADJUSTED CHARITABLE
DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSES

ACCOUNTING FEES 10,000. 10,000. 0.

TO FORM 990-PF, PG 1, LN 16B 10,000. 10,000. 0.

FORM 990-PF OTHER PROFESSIONAL FEES STATEMENT 6

(A) (B) (C) (D)


EXPENSES NET INVEST- ADJUSTED CHARITABLE
DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSES

OTHER PROFESSIONAL FEES 5,899. 0. 5,899.

TO FORM 990-PF, PG 1, LN 16C 5,899. 0. 5,899.

FORM 990-PF TAXES STATEMENT 7

(A) (B) (C) (D)


EXPENSES NET INVEST- ADJUSTED CHARITABLE
DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSES

MASS ANNUAL FEE 250. 0. 0.


DELAWARE ANNUAL FEE 25. 0. 0.
STATE UNEMPLOYMENT TAXES 1,676. 0. 1,676.
PAYROLL TAXES 14,500. 0. 14,500.
FEDERAL INCOME TAX 442,218. 0. 0.

TO FORM 990-PF, PG 1, LN 18 458,669. 0. 16,176.

STATEMENT(S) 4, 5, 6, 7
CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027

FORM 990-PF OTHER EXPENSES STATEMENT 8

(A) (B) (C) (D)


EXPENSES NET INVEST- ADJUSTED CHARITABLE
DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSES

INTERNET 1,128. 0. 1,128.


TELEPHONE 3,465. 3,465. 0.
SHIPPING AND POSTAGE 1,321. 1,321. 0.
MISC FEES 2,833. 0. 2,833.
MISCELLANEOUS 412. 0. 412.
MOVING EXPENSE 4,677. 0. 0.
OFFICE INSURANCE 3,142. 0. 3,142.
OFFICE AND SUPPLIES 7,286. 3,643. 3,643.
SOFTWARE MAINTENANCE 1,494. 1,494. 0.
LIFE INSURANCE 1,720. 0. 1,720.
WORKERS COMPENSATION
INSURANCE 395. 0. 395.
PENALTIES 1,378. 0. 0.

TO FORM 990-PF, PG 1, LN 23 29,251. 9,923. 13,273.

FORM 990-PF OTHER DECREASES IN NET ASSETS OR FUND BALANCES STATEMENT 9

DESCRIPTION AMOUNT

NET ASSET ADJUSTMENT- DIFFERENCE BETWEEN COST AND FMV OF


SECURITIE DONATED 31,457,040.

TOTAL TO FORM 990-PF, PART III, LINE 5 31,457,040.

FORM 990-PF U.S. AND STATE/CITY GOVERNMENT OBLIGATIONS STATEMENT 10

U.S. OTHER FAIR MARKET


DESCRIPTION GOV'T GOV'T BOOK VALUE VALUE

US TREASURY BILLS X 197,396,162. 199,666,505.


FEDERAL HOME LOAN BANK NOTES X 9,987,820. 10,065,625.

TOTAL U.S. GOVERNMENT OBLIGATIONS 207,383,982. 209,732,130.

TOTAL STATE AND MUNICIPAL GOVERNMENT OBLIGATIONS

TOTAL TO FORM 990-PF, PART II, LINE 10A 207,383,982. 209,732,130.

STATEMENT(S) 8, 9, 10
CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027

FORM 990-PF CORPORATE STOCK STATEMENT 11

FAIR MARKET
DESCRIPTION BOOK VALUE VALUE

CORPORATE STOCK 14,000,012. 12,804,800.

TOTAL TO FORM 990-PF, PART II, LINE 10B 14,000,012. 12,804,800.

FORM 990-PF DEPRECIATION OF ASSETS NOT HELD FOR INVESTMENT STATEMENT 12

COST OR ACCUMULATED
DESCRIPTION OTHER BASIS DEPRECIATION BOOK VALUE

FURNITURE AND FIXTURES 4,882. 4,698. 184.


EQUIPMENT 430. 185. 245.
OFFICE RENOVATION 31,637. 31,637. 0.
OFFICE EQUIPMENT 1,290. 1,290. 0.
OFFICE EQUIPMENT 6,036. 6,036. 0.
FURNITURE AND FIXTURES 51,761. 51,761. 0.
EQUIPMENT 51,988. 10,398. 41,590.
EQUIPMENT 28,125. 5,625. 22,500.
COMPUTERS 8,985. 1,797. 7,188.
LEASEHOLD IMPROVEMENT 650,183. 7,641. 642,542.
FURNITURE AND FIXTURES 112,570. 16,081. 96,489.

TOTAL TO FM 990-PF, PART II, LN 14 947,887. 137,149. 810,738.

FORM 990-PF OTHER ASSETS STATEMENT 13

BEGINNING OF END OF YEAR FAIR MARKET


DESCRIPTION YR BOOK VALUE BOOK VALUE VALUE

CONSTRUCTION IN PROGRESS 25,000. 0. 0.


ACCRUED INTEREST ON BOND
ACQUISITION 55,800. 0. 0.

TO FORM 990-PF, PART II, LINE 15 80,800. 0. 0.

STATEMENT (S) 11, 12, 13


CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027

FORM 990-PF PART VIII - LIST OF OFFICERS, DIRECTORS STATEMENT 14


TRUSTEES AND FOUNDATION MANAGERS

EMPLOYEE
TITLE AND COMPEN- BEN PLAN EXPENSE
NAME AND ADDRESS AVRG HRS/WK SATION CONTRIB ACCOUNT

CARL J. SHAPIRO CHAIRMAN


2 N BREAKERS ROW 20.00 0. 0. 0.
PALM BEACH, FL 33480

RUTH G. SHAPIRO SECRETARY, TREAS & TRUSTEE


2 N BREAKERS ROW 4.00 0. 0. 0.
PALM BEACH, FL 33480

RHONDA S. ZINNER PRESIDENT


75 PARK PLAZA 20.00 0. 0. 0.
BOSTON, MA 02116

ELLEN S. JAFFE TRUSTEE


75 PARK PLAZA 4.00 0. 0. 0.
BOSTON, MA 02116

LINDA S. WAINTRUP TRUSTEE


75 PARK PLAZA 4.00 0. 0. 0.
BOSTON, MA 02116

JEAN S. WHITNEY PROGRAM DIRECTOR


112 WOODRIDGE ROAD 32.00 95,111. 12,079. 0.
WAYLAND, MA 01778

TOTALS INCLUDED ON 990-PF, PAGE 6, PART VIII 95,111. 12,079. 0.

FORM 990-PF PART XV - LINE 1A STATEMENT 15


LIST OF FOUNDATION MANAGERS

NAME OF MANAGER

CARL J. SHAPIRO
RUTH G. SHAPIRO

STATEMENT(S) 14, 15
Form 2220 Underpayment of Estimated Tax by Corporations
OMB No 1545-0142

Department of the Treasury ^ See separate instructions. 2007


Internal Revenue Service ^ Attach to the corporation's tax return . FORM 9 9 0 -PF

Name Employer identification number


CARL & RUTH SHAPIRO FAM ILY FOUNDATION 04-6135027
Note: Generally , the corporation is not required to file Form 2220 (see Part II below for exceptions) because the IRS will figure any penalty owed and bill the
corporation However, the corporation may still use Form 2220 to figure the penalty If so, enter the amount from page 2, line 34 on the estimated tax
penalty line of the corporation's income tax return, but do not attach Form 2220

1 Total tax (see instructions) 436,540.

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

c Credit for Federal tax paid on fuels (see instructions) 2c


d Total. Add lines 2a through 2c
3 Subtract line 2d from line 1 If the result is less than $500, do not complete or file this form. The corporation
does not owe the penalty 436,540.
4 Enter the tax shown on the corporation's 2006 income tax return (see instructions ) Caution : If the tax Is zero
or the tax year was for less than 12 months, skip this line and enter the amount from line 3 on line 5 598,507.

5 Required annual payment . Enter the smaller of line 3 or line 4 If the corporation is required to skip line 4,
enter the amount from line 3 436,540.
Part 11 Reasons for Filing - Check the boxes below that apply If any boxes are checked , the corporation must file Form 2220
even if it does not owe a penalty (see instructions)
6 The corporation is using the adjusted seasonal installment method
7 The corporation is using the annualized income installment method
8 The cor p oration is a'lar a cor p oration ' fi g urin g its first re q uired installment based on the p rior y ear's tax
Cinuurinn t b I l nrlnrnnvmnnt

(a) (b) (c ) (d )
9 Installment due dates. Enter in columns (a) through
(d) the 15th day of the 4th ( Form 990 - PF filers:
Use 5th month) , 6th, 9th , and 12th months of the
corporation ' s tax year 9 5/15/07 6/15/07 9/15/07 2/15/07
10 Required Installments . If the box on line 6 and /or line 7
above is checked, enter the amounts from Sch A, line 38 If
the box on line 8 (but not 6 or 7) is checked , see instructions
for the amounts to enter If none of these boxes are checked,
enter 25 % of line 5 above in each column 10 109,135. 109 , 135. 109 , 135. 109 , 135.
11 Estimated tax paid or credited for each period (see
instructions ) For column (a) only, enter the amount
from line 11 on fine 15 11 122,218. 50,000. 270,000.
Complete lines 12 through 18 of one column before
going to the next column.
12 Enter amount , if any, from line 18 of the preceding column 12 13,083.
13 Add lines 11 and 12 13 13,083. 50 000. 270,000.
14 Add amounts on lines 16 and 17 of the preceding column 14 9 6 , 052. 155,187.
15 Subtract line 14 from line 13 If zero or less , enter -0- 15 122,218. 13,083. 0. 114 , 813 .
16 If the amount on line 15 is zero , subtract line 13 from line
14 Otherwise , enter -0- 16 0. 46,052.
17 Underpayment . If line 15 is less than or equal to line 10,
subtract line 15 from line 10 Then go to line 12 of the next
column Otherwise , go to line 18 17 96,052. 109 , 135.
18 Overpayment . If line 10 is less than line 15, subtract line 10
from line 15 Then g o to line 12 of the next column 18 13 , 083. 1
Go to Part IV on page 2 to figure the penalty . Do not go to Part IV if there are no entries on line 17 - no penalty is owed.
JWA For Paperwork Reduction Act Notice, see separate Instructions . Form 2220 (2007)

712801
02-13-08
FORM 990-PF
Form2220(2007) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Page 2

Pert IV Figuring the Penalty

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

data shown on line 19 20

21 Number of days on line 20 after 4/152007 and before 1/12008

22 Underpayment on line 17 x Number of days online 21 x 8%


365

23 Number of days on line 20 after 12/312007 and before 4/12008

24 Underpayment online 17 x Number of days online 23 x 7%


366

25 Number of days on line 20 after 3212008 and before 7/12008

26 Underpayment on line 17 x Number of days on line 25 X


366

27 Number of days online 20 after 6/302008 and before 10/1/2008 1271 SEEI ATTACHED WORKSHEET

28 Underpayment on line 17 x Number of days on line 27 x


366

29 Number of days online 20 after 9/30/2008 and before 1/1/2009

30 Underpayment on line 17 x Number of days on line 29 x'%


366

31 Number of days online 20 after 12/312008 and before 2/162009

32 Underpayment on line 17 x Number of days on line 31 x


365

33 Add lines 22, 24, 26, 28, 30, and 32

34 Penalty . Add columns (a) through (d) of line 33 Enter the total here and on Form 1120, line 33,
4,931.
' For underpayments paid after March 31 , 2008 : For lines 26, 28, 30, and 32, use the penalty interest rate for each calendar quarter, which the IRS
will determine during the first month in the preceding quarter These rates are published quarterly in an IRS News Release and in a revenue ruling in
the Internal Revenue Bulletin To obtain this information on the Internet, access the IRS website at www.irs .gov. You can also call 1-800-829-4933
to get interest rate information
JWA Form 2220 (2007)

712802
02-13-08
FORM 990-PF
UNDERPAYMENT OF ESTIMATED TAX WORKSHEET

Name ( s) Identifying Number

CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027


(A) (B) (C) (D ) ( E) (F)
Adjusted Number Days Daily
Date Amount Balance Due Balance Due Penalty Rate Penalty

-0-

05/15/07 109,135. 109,135.

05/15/07 <120 , 000. > <10 , 865. >

05/15/07 <2,218. > <13 , 083. >

06/15/07 109 135. 96 , 052. 89 .000219178 1,874.

09/12/07 <50 , 000. > 46 , 052. 3 .000219178 30.

09/15/07 109 135. 155 187. 89 .000219178 3,027.

12/13/07 <270 , 000. > <114 , 813. >

12/15/07 109 135. <5 , 678. >

12/31/07 0. <5 , 678. > 91 .000191257

03/31/08 0. <5 , 678. > 45 .000163934

Penalty Due ( Sum of Column F) 4 , 931.

" Date of estimated tax payment, withholding


credit date or installment due date

712511
04-27-07

OMB No 1545-017 2

Forth 4562 Depreciation and Amortization 990-PF 2007


Department of the Treasury
(Including Information on Listed Property) Attachment
Intbmal Revenue Service lll^ See separate instructions. NO- Attach to your tax return. Sequence No 67
Name(s) shown on return Business or activity to which this form relates Identifying number

CARL & RUTH SHAPIRO FAMILY FOUNDATION IFORM 990-PF PAGE 1 104-6135027
P art I Election To Exp ense Certain Property Under Section 179 Note: If you have any listed pro erty, complete Part V before you complete Part 1.
1 Maximum amount. See the instructions for a higher limit for certain businesses 1 125 , 000.
2 Total cost of section 179 property placed in service (see instructions) 2
3 Threshold cost of section 179 property before reduction in limitation 3 500 , 000.
4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0- 4

6 (a) Description of property I (b) Cost (business use only) I (c) Elected cost

7 Listed property. Enter the amount from line 29 7


8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 8
9 Tentative deduction. Enter the smaller of line 5 or line 8 9
10 Carryover of disallowed deduction from line 13 of your 2006 Form 4562 10
11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 11
12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 12
13 Carryover of disallowed deduction to 2008. Add lines 9 and 10 , less line 12 00-1 13
Note : Do not use Part ll or Part Ill below for listed property. Instead, use Part V.
part II Special Depreciation Allowance and Other Depreciation ( Do not include listed property.)
14 Special allowance for qualified New York Liberty or Gulf Opportunity Zone property (other than listed property) and cellulosic
biomass ethanol plant property placed in service during the tax year 14
15 Property subject to section 168(f)(1) election 15
16 Other de p reciation (includin g ACRS ) 16 270.
Part III MACRS Depreciation (Do not include listed property.) (See Instructions.)
Section A
17 MACRS deductions for assets placed in service in tax years beginning before 2007 17

Section B - Assets Placed in Service Durina 2007 Tax Year Usina the General Depreciation System
(b) Month and (c) Basis for depreciation (d) Recovery
(a) Classification of property year placed (businessAnvestment use ( e) Convention (}) Method (g) Depreciation deduction
only - see instructions) period
In service

19a 3-year pro pert y


5 -y ear p ro p ert y 098. 5 YRS. HY 200DB 17,820.
c 7 -y ear p ro p ert y 570. 7 YRS. HY 200DB 16 , 081.
d 10 ear propert y
15 ear propert y
20 ear propert y
ear propert y S/L y rs.
/ MM S/L
27.5 y rs.
h Residential rental property
/ MM S/L
27.5 y rs.
07 /07 650 183. 39 y rs. MM S/L 7,641.
i Nonresidential real property
/ MM S/L
Section C - Assets Placed in Service During 2007 Tax Year Usina the Alternative Depreciation System
20a Class life S/L
b 12 ear 12 y rs. S/L
c 40-year / 40 yrs. MM S/L
I Part IV Summary (see instructions)
21 Listed property. Enter amount from line 28 21
22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21.
Enter here and on the appropriate lines of your return. Partnerships and S corporations • see Instr. 22 41,812.
23 For assets shown above and placed in service during the current year, enter the

11s^07 LHA For Paperwork Reduction Act Notice , see separate instructions . Form 4562 (2007)
Form4562 (2007) CARL & RUTH SHAPIRO FAMILY FOUNDATION 04-6135027 Page2
pan Vf Listed Property (Include automobiles, certain other vehicles, cellular telephones , certain computers , and property used for entertainment,
recreation , or amusement)
Note : For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 24b, columns (a)
through (c) of Section A, all of Section B. and Section C if applicable.
Section A - Depreciation and Other Information (Caution : See the instructions for limits for passenger automobiles.)
9da no you have evidence to sunnort the husmesslnvestment use claimed? Ti Yes F-1 No 24h If 'Yec' is the evidence wntten? F1 Yes n No
(a) (b) (c) (e) (f) (9) (h) (i)
Type of property Date Business/ Basis for depreciation
Recovery Method/ Depreciation Elected
placed in investment Cost or rousinessrnvestment
(list vehicles first) other basis period Convention deduction section 179
service use percentage use onyx cost
25 Special allowance for qualified Gulf Opportunity Zone property placed in service during the tax year and
u sed more than 50% Ina q ualified business use 25

27 Property used 50% or less in a qualified business use:


%I I I IS/L-

%I I I IS/L
28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1
29 Add amounts in column (I), line 26. Enter here and on line 7, page 1
Section B - Information on Use of Vehicles
Complete this section for vehicles used by a sole proprietor, partner, or other more than 5% owner,' or related person.
If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for
those vehicles.
(a) (b) (c) (d) (e) (f)
30 Total business/investment miles driven during the Vehicle Vehicle Vehicle Vehicle Vehicle Vehicle
year ( do not include commuting miles)
31 Total commuting miles driven during the year
32 Total other personal (noncommuting) miles
driven
33 Total miles driven dunng the year.
Add lines 30 through 32
34 Was the vehicle available for personal use Yes No Yes No Yes No Yes No Yes No Yes No
during off-duty hours?
35 Was the vehicle used primarily by a more
than 5% owner or related person?
36 Is another vehicle available for personal
use?
Section C - Questions for Employers Who Provide Vehicles for Use by Their Employees
Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are not more than 5%
owners or related persons.
37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your
employees?
38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your
employees? See the instructions for vehicles used by corporate officers, directors, or 1 % or more owners
39 Do you treat all use of vehicles by employees as personal use?
40 Do you provide more than five vehicles to your employees, obtain information from your employees about
the use of the vehicles, and retain the information received?
41 Do you meet the requirements concerning qualified automobile demonstration use?

Part VI Amortization
(a) (b) (c) (d) (e) (f)
Description of costs Dateamortzatlon Amortizable Code AmonAabon Amortization
beams amount section period or percentage for this year

42 Amortization of costs that begins during your 2007 tax year:

43 Amortization of costs that began before your 2007 tax year 43


44 Total. Add amounts in column (f). See the instructions for where to reoort 44
716252/11-03-07 Form 4562 (2007)
Carl and Ruth Shapiro Family Foundation 04-6135027 Statement # , Page 1
Recipient Name Status Relationsh Program Area Purpose of Grant Amount

ACCESS Public Charity None Education Operating Support $25,000

Alpert Jewish Family & Children's Public Charity None Jewish Interests Operating Support $25,000
Services

American Cancer Society Public Charity None Health Operating Support $40,000

American Committee for the Public Charity None Jewish Interests Operating Support $25,000
Weizmann Institute of Science

Amer. Friends of Livnot U' Lehibanot Public Charity None Jewish Interests Operating Support $1,000

American Friends of the Hebrew Univ. Public Charity None Jewish Interests Operating Support $11,000

Amer. Friends of the Israel Museum Public Charity None Jewish Interests Operating Support $10,000

American Friends of the Israel Public Charity None Jewish Interests Operating Support $45,000
Philharmonic Orchestra

American Heart Association Public Charity None Health Operating Support $20,000

American Jewish Committee Public Charity None Jewish Interests Operating Support $15,000

American Society for Technion Public Charity None Jewish Interests Operating Support $25,000

Anti-Defamation League Public Charity None Jewish Interests Operating Support $150,000

ARMDI Public Charity None Jewish Interests Operating Support $25,000

Artists for Humanity Public Charity None Arts & Culture Project Support $30,000

Associated Grant Makers Public Charity None Human Services Project Support $20,500

Associated Grant Makers Public Charity None Other Membership $8,400

Association of Small Foundations Public Charity None Other Membership $470

BalletRox Public Charity None Arts & Culture Project Support $20,000

Belmont Hill School Public Charity None Education Operating Support $2,500

Berklee College of Music Public Charity None Arts & Culture Project Support $30,000

Beth Israel Deaconess Medical Center Public Charity None Health Operating Support $1,500

Beth Israel Deaconess Medical Center Public Charity None Health Capital $700,000

Boston Ballet Public Charity None Arts & Culture Operating Support $55,000
Carl and Ruth Shapiro Family Foundation 04-6135027 Statement # , Page 2
Recipient Name Status Relationship Program Area Purpose of Grant Amount

Boston Center for Independent Living Public Charity None Human Services Project Support $25,000

Boston Children 's Chorus Public Charity None Arts & Culture Project Support $30,000

Boston Chinatown Neighborhood Ctr. Public Charity None Human Services Project Support $25,000

Boston Foundation, The Public Charity None Human Services Project Support $15,000

Boston Medical Center Public Charity None Health Operating Support $10,000

Boston Symphony Orchestra Public Charity None Arts & Culture Operating Support $10,000

Boston Univ . School of Social Work Public Charity None Education Project Support $5,000

Boys and Girls Clubs of Boston Public Charity None Human Services Operating Support $25,000

Brain Tumor Society Public Charity None Health Operating Support $10,000

Brandeis University Public Charity None Education Project Support $121,000

Brandeis University Public Charity None Education Capital $2,850,000

Brandeis University Public Charity None Education Operating Support $51,000

Breast Cancer Research Foundation Public Charity None Health Operating Support $50,000

Brigham & Women ' s Hospital Public Charity None Health Project Support $535,000

Brigham & Women ' s Hospital Public Charity None Health Operating Support $64,200

Brigham & Women ' s Hospital Public Charity None Health Capital $1,919,567

Brimmer and May School Public Charity None Education Operating Support $52,000

Camp Harbor View Public Charity None Human Services Project Support $25,000

Casa Myrna Vasquez Public Charity None Human Services Project Support $25,000

Center for Teen Empowerment, The Public Charity None Human Services Project Support $25,000

Charley ' s Fund, Inc Public Charity None Health Operating Support $1,000

Children ' s Hospital Public Charity None Health Capital $250,000

Children's Museum Public Charity None Arts & Culture Operating Support $10,000

Children 's Museum Public Charity None Arts & Culture Capital $200,000
:arl and Ruth Shapiro Family Foundation 04-6135027 Statement # , Page 3
Recipient Name Status Relationship Program Area Purpose of Grant Amount

CityStage Company Public Charity None Arts & Culture Project Support $10,000

Combined Jewish Philanthropies Public Charity None Jewish Interests Project Support $4,000

Combined Jewish Philanthropies Public Charity None Jewish Interests Operating Support $356,500

Community Art Center Public Charity None Arts & Culture Project Support $15,000

Community Music Center Public Charity None Arts & Culture Project Support $20,000

Community Rowing Public Charity None Human Services Project Support $25,000

Cystic Fibrosis Supportis Public Charity None Health Operating Support $10,000

Dana Farber Cancer Institute Public Charity None Health Operating Support $75,000

Donors Forum of South Florida Public Charity None Other Membership $2,500

Dorchester Community Center for the Public Charity None Arts & Culture Project Support $25,000
Visual Arts

Duke University Public Charity None Jewish Interests Project Support $2,500

Education Development Center , Inc. Public Charity None Health Operating Support $5,000

Elizabeth Stone House Public Charity None Human Services Project Support $30,000

ESAC Public Charity None Human Services Project Support $25,000

Facing History and Ourselves Public Charity None Education Operating Support $25,000

Fed. Dorchester Neighborhood Houses Public Charity None Arts & Culture Project Support $15,000

Food Project , The Public Charity None Human Services Project Support $25,000

Friends of the Public Garden , The Public Charity None Arts & Culture Operating Support $5,000

Gift of Life Bone Marrow Foundation Public Charity None Health Operating Support $45,000

Greater Boston Guild for the Blind Public Charity None Human Services Project Support $35,000

Hadassah Public Charity None Jewish Interests Operating Support $10,000

Handel and Haydn Society Public Charity None Arts & Culture Operating Support $2,500

Harbor COV Public Charity None Human Services Project Support $30,000

Harvard Graduate School of Education Public Charity None Education Operating Support $2,500
:arl and Auth Shapiro Family Foundation 04-6135027 Statement # , Page 4
Recipient Name Status Relationship P r og ram Area Purpose of Gra n t Amount

Hebrew Senior Life Public Charity None Jewish Interests Project Support $25,000

Home for Little Wanderers , The Public Charity None Human Services Operating Support $1,000

Hospice of Palm Beach County Public Charity None Human Services Operating Support $30,000

Huntington Theater Company Public Charity None Arts & Culture Operating Support $65,000

Huntington Theater Company Public Charity None Arts & Culture Project Support $20,000

Hyde Square Task Force Public Charity None Arts & Culture Project Support $20,000

Inquilinos Boricuas En Accion Public Charity None Arts & Culture Project Support $20,000

Institute of Contemporary Art Public Charity None Arts & Culture Capital $100,000

Institute of Contemporary Art Public Charity None Arts & Culture Project Support $30,000

Interfaithfamily .com Public Charity None Jewish Interests Operating Support $2,500

Jewish Adoption and Foster Care Public Charity None Jewish Interests Operating Support $5,000

Jewish Big Brother and Big Sister Public Charity None Human Services Project Support $15,000

Jewish Family & Children's Services Public Charity None Human Services Project Support $30,000

Jewish Federation of Palm Beach Cty. Public Charity None Jewish Interests Operating Support $160,000

Jewish Guild for the Blind Public Charity None Jewish Interests Operating Support $10,000

Jewish Home for the Aged of Palm Public Charity None Jewish Interests Project Support $10,000
Beach County

Jewish Home for the Aged of Palm Public Charity None Jewish Interests Capital $200,000
Beach County

Jewish Theological Seminary Public Charity None Jewish Interests Operating Support $3,600

Jewish Women ' s Archive Public Charity None Jewish Interests Operating Support $2,500

Joslin Clinic Public Charity None Health Project Support $50,000

Joslin Clinic Public Charity None Health Operating Support $25,000

Judge Baker's Children ' s Center Public Charity None Human Services Operating Support $5,000

Kenneth B. Schwartz Center Public Charity None Health Operating Support $1,000
:arl and Ruth Shapiro Family Foundation 04-6135027 Statement # , Page 5
Recipient Name Status Relationship Program Area Purpose of Grant Amount

Kravis Center for the Performing Arts Public Charity None Arts & Culture Operating Support $35,000

Kravis Center for the Performing Arts Public Charity None Arts & Culture Capital $300,000

Lafayette College Public Charity None Education Operating Support $1,500

Lesley University Public Charity None Arts & Culture Project Support $20,000

Leukemia and Lymphoma Society Public Charity None Health Operating Support $20,000

Little Kids Rock Public Charity None Arts & Culture Project Support $10,000

Lymphoma Research Foundation Public Charity None Health Operating Support $100,000

Medicine Wheel Productions Public Charity None Arts & Culture Project Support $25,000

Michael J Fox Foundation Public Charity None Health Operating Support $100,000

Mujeres Unidas en Accion Public Charity None Human Services Project Support $25,000

Muscular Dystrophy Association Public Charity None Health Operating Support $10,000

Museum of Fine Arts Public Charity None Arts & Culture Project Support $20,000

Museum of Fine Arts Public Charity None Arts & Culture Capital $1,500,000

Museum of Science Public Charity None Arts & Culture Capital $200,000

MYTOWN Public Charity None Human Services Project Support $25,000

Natl. Center for Family Philanthropy Public Charity None Other Membership $1,000

Natl. Council on Spinal Cord Injury Public Charity None Health Operating Support $5,000

Northwestern University Public Charity None Education Operating Support $2,500

Norton Museum of Art Public Charity None Arts & Culture Operating Support $120,000

Norton Museum of Art Public Charity None Arts & Culture Capital $100,000

NYU Hospitals Center Public Charity None Health Project Support $14,500

NYU Hospital Center Public Charity None Health Operating Support $24,500

One Family Inc. Public Charity None Human Services Project Support $35,000

Origination Public Charity None Arts & Culture Project Support $10,000
Carl and Ruth Shapiro Family Foundation 04-6135027 Statement # , Page 6
Recipient Name Status Relationsh ip Program Area Purpose of Grant Amount

Palm Beach Comm. Chest United Way Public Charity None Human Services Operating Support $107,000

Palm Beach Country Club Foundation Public Charity None Arts & Culture Operating Support $4,000

Palm Beach Opera Public Charity None Arts & Culture Operating Support $10,000

Park School Public Charity None Education Operating Support $47,500

Partners for Youth with Disabilities Public Charity None Human Services Project Support $25,000

Perkins School for the Blind Public Charity None Human Services Project Support $50,000

Planned Parenthood League of MA Public Charity None Health Operating Support $10,000

Planned Parenthood of Palm Beaches Public Charity None Health Operating Support $10,000

Project Hope Public Charity None Human Services Project Support $30,000

Project STEP Public Charity None Arts & Culture Project Support $20,000

Rehab . Center for Children and Adults Public Charity None Health Operating Support $10,000

Richard David Kann Melanoma Fdn. Public Charity None Health Operating Support $10,000

Rivers School , The Public Charity None Education Operating Support $7,500

Rodman Rides for Kids Public Charity None Health Project Support $25,000

Roxbury Prepatory Charter School Public Charity None Education Operating Support $5,000

Sarah Lawrence College Public Charity None Education Operating Support $10,000

Second Step , The Public Charity None Human Services Project Support $25,000

Simon Wiesenthal Center Public Charity None Jewish Interests Operating Support $25,000

Sippican Lands Trust , Inc. Public Charity None Other Operating Support $20,000

Skimore College Public Charity None Education Operating Support $500

Society of the Four Arts Public Charity None Arts & Culture Operating Support $5,000

Somerville Arts Council Public Charity None Arts & Culture Project Support $9,000

South End Community Health Center Public Charity None Health Operating Support $1,000

Spaulding Rehabilitation Center Public Charity None Health Operating Support $5,000
;all and O!uth Shapiro Family Foundation 04-6135027 Statement # , Page 7
Recipient Name Status Relationship Program Area Purpose of Grant Amount

Summer Search Public Charity None Human Services Project Support $35,000

Temple Israel Public Charity None Human Services Project Support $3,600

Tenacity Public Charity None Human Services Project Support $30,000

Thompson Island Outward Bound Public Charity None Human Services Project Support $25,000

Topf Center for Dance Education Public Charity None Arts & Culture Project Support $15,000

United South End Settlements Public Charity None Arts & Culture Project Support $10,000

U.S. Holocaust Memorial Museum Public Charity None Jewish Interests Project Support $25,000

United Way of MA Bay Public Charity None Human Services Operating Support $10,000

University of Pennsylvania Public Charity None Education Operating Support $2,500

Urban Improv Public Charity None Arts & Culture Project Support $20,000

Vinfen Corporation Public Charity None Human Services Project Support $20,000

WBUR Public Charity None Arts & Culture Operating Support $1,000

Wellesley College Public Charity None Education Project Support $5,000

Wellness Community , The Public Charity None Health Operating Support $2,000

West End House Boys and Girls Club Public Charity None Human Services Project Support $25,000

WGBH Educational Foundation Public Charity None Human Services Capital $150,000

Whittier Street Health Center Public Charity None Arts & Culture Project Support $10,000

Winsor School Public Charity None Education Operating Support $10,000

Women ' s Express Public Charity None Human Services Project Support $30,000

Zumix Public Charity None Arts & Culture Project Support $30,000

Total $12,884,837
Number of Organizations 146

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