Picower Foundation -- 2001 Tax Return

tXItNbIUN ATTACHED

Form;990-PF

Return of Private Foundation

°""B"°'S'S-0052

Treated as a Private Foundation

200 1

or Section 49471a)(1) Nonexempt Charitable Trust

aowDepartment d meT~+~v

internal Revue service Note The organization may be ebb to use a copy of this return to satisfy state reporting requirements For calendar eer 2007 or tax ear be Innln , 2001, and ending

G Check all that e

Initial return

Final return

Name of organization

Use the IRS

label Otherwise,

print or type See Specific

Instructions

Amended return

THE PICOWER FOUNDATION Number and street (or P O box number II mall Is not delivered to street address) 1410

SOUTH OCEAN BLVD

KXMa

3

Analysis of Revenue and Expenses

(The total damounts in columns (b), (c), and

Dividends and Interest from securities

6 a Gross rents , y d

, , , , , , ,

Net short-term capital gam

9 Income modifications 10a Gross sales less returns and allowances b Less Cost dgoods sole ,

. , ,

Other income (attach schedule)

12

, ,

15

. .

.

. . .

1

uamnterouna .mn .aw.wa.te~mwoea under sxtbn5p7(bNINA) Neck here

game

(c) Adjusted net

Income

~

(d) Disbursements for charitable

Purposes

108 .131

108 , 131

941

449 .

15

941 , 449

n

176 , 653 , 482 176 , 653 , 482

. .

Total Add lines 1 through 1 .

192 .703 .028

Compensation of officers, direct=, trustees we

13

y

Other employee sullen" and wages . Pension plans, employee benefits

. .

250 , 714 33 , 113

. .STMT 1 .

b Accounting fees (attach uhedule)S1RTP, 2 .

~Yh c 18

192 , 703 , 062 .

22 , 679

c Other professional fees (attachsct2MW 3 , 77 Interest . . . . . . . . . . . .

64 , 274 .

NONE

1 . 200 .

NONE

NONE

NONE

49 , 855

go

Occupancy

21

Travel, conferences, and meetings , , , ,

1 , 683 , 768

Depreciation (attach schedule) annep wn

22

, , , , ,

Punting and publications

. . . . . . .

Other expenses (attach schedule) STMT, 5 . Total operating and admwshaWe expenses

a 26

Add lines 13 through 23

25 26

7 . 07 6

, , , ,

39

Subtract line 26 from One 12

a Ea,wol,wenniowre~maabDU'umwile; . 6 Net Investment income (if negative, inter -0-)

112 , 996 .

208

NONE

355 018

E299

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17-26 33

NONE

2 , 219 , 223 32

278

810 .

34

498

033 .

' 192 , 703 , 062

For Paperwork Reduction Act Notice, seethe instructions

SW0643

NONE

NONE

153 , 348 , 080

c Adjusted net income (1 negative, enter -0-) IEi4io3 opp

2 , 241

32 , 278 , 810

Total .. n. aeaff.eureerMeaneeeneazaanazs

27

1 , 683 , 768

112 , 986

. . , , . ,

Contributions. gifts, grants paid

3 21 , 069

2 . 241 .

113

1 , 200 .

192 , 963

, , , , , , , , ,

714

33

64 , 274

3

4 . 662 . 412 .

19

250

49 , 855

Taxes (attach schedule) (x . page u m 611711if" ^-dl-)

m 27 O

.

-fir

~K 76a Legal fees (attach

E v a 9 e A m

e

.

u e,r,ectio x7(e)(,Ke) ~ ,a ~2

(b) Net investment

expenses per books

. . , ,

c Gross profit or (loss) (attach schedule)

Z^ v 74 ~~ 16

f~

Computation

36 .1

6 a Net pain or (loss) from sale of assets nod on 10 b Gross solo puce for ail fine assets on line 6a T Capital gain net income (from Part N, line 2) ,

71 O

7 Foreign argarmwerninneang me esxmncn.ckn .r.,na2mcn

b (Net rental income or (loss)

e

O

(a) Revenue and

Interest onsavings andtempormycash umstments "

4

835-1332

Other (speafy)___--_____________- F If m .rouna .uon te In .so.m,~mam, .~m~

(Part l, column (d) must be on cash basis)

542 , 109 , 910

eanvmuwm. As grart, ate U d the foundation is not required to Creck me attach SM B Distributions from splrlinterest trusts _ , ,

2

the instructions) 561

(d) may not necessarily equal we amounts In -h- i., i~v . ..e,n .,r .~_ .. . . .. .. ._. ._~~ . 1

13-6927043 B Telephone number (see page 10 a

c u . ..motion application o

PALM REACH FL 33480 H Check type of organ¢aLOn X Section 507(c 3 exempt private foundation section 4947 (a )( 1 ) nonexem pt charitable trust Other taxable ovate foundaCon I Fair market value of all assets at end Accounting method Cash Accrual 16 .

Name change

A Employer Identification number

RooMsuite

City or town, state, and ZIP coda

of year (IromPart ll,col (c),hne

Address change

V01-7

745778

Form990-PF (2001) 3

~

,

2

rormvarrr~cwi~ Attached schedules and amounts in the

Ba lance Sheets description column should Dela,_ . ..

1 2

3

Cash -noMnterest-beanng Savings and temporary cash investments

_ ,

Accounts receivable 111' Less allowance for doubtful accounts

1

s

Pledges recerrable

5

Grants receivable

6

Recervables due from officers, directors, trustees . and other

7

Other notes and loans receivable (attach schedule) 1

Less allowance for doubtful accounts

disqualified persons (attach schedule) (see page 15 0l the uul+ucuors) Less allowance for doubHul accounts

8

9

1

Inventones fw sale or ux

Prepaid expenses and deferred charges

10a Investments -U S and slate government obligations (attacS9Multj b Investments - corporate stock (attach schedule)

11 72 73 14

5

$T4T

c Investments - corporate bonds (attach schedule) Investments -IanG, buildings and equipment basis Less accumulated deprecation

-----______________

___________________ (attach schedule) Investments - mortgage bans , , _ _ , , , , , , , Investments - other (attach schedule) , , , , , , , , Land, buildings, and STMT 10 . 643 2 597 equipment basis __________,__ Less accumulated depreciation l~ 192,963 . _7 ((attach schedule) Other assets (deunbe ll~

16

Total assets (to be completed by all fliers - see gape 16 0l

17

Accounts payable and accrued expenses

18 19 20 21 22 As

7

, , .

Grants payable

Deterred revenue

, , ,

)

, _ ,

, , , , , . , ,

Loans from officers directors Vusiees and other disqualified persons

Mortgages and other notes payable (attach schedule) , , , , Other liabilities (descnbe 111~

)

i oxat uaounies ( add ones 1 t through 22 Organizations that follow SFAS 777, check here

and complete lines 24 through 26 and lines 30 and 31 .

N

~ 24 ~`v ZS

' m 26 ,~ `0 27 d 28 h 29 a 30 d

z

Unrestricted .

, . , . . ,

, . . , , . . . . .

Organizations that do not follow SFAS 117, check here and complete lines 27 through 71 .

" X

Capital stock, Wst principal, a current funds . , , , , . . . Paid in or capital surplus, or Land, ddg and equipment fund

326

, , , ,

Retained earnings accumulated income mdwwnen4 a diher funds Total net assets or fund balances (see page 17 of the

Instructions) , 37

, .

Temporarily restricted Permanently restricted " " "

_ _ ,

, , ,

, , , ,

, ,

326

Total liabilities and net assets/fund balances (see gape 17 of

the instructions)

326

Analysis of Changes in Net Assets or Fund Balances i Total net assets or fund balances at beginning of year- Part II, column (a), line 30 2 3 d 5

(must agree with end-of-year figure reported on poor years return) Enter amount from Part I, line 27a Other increases not included in line 2 (Rem¢e) " Add lines t, 2, and 3 , , , , , . , , , , . . . Decreases not included in line 2 (itemize) "

_

6 Total net assets or fund balances at end of ear line 4 minus line 5

Part II column b line 30

JSA

1 2

326 , 814 . 986 153 348 080 .

3 4 5

4-80 , 16-3 , 066 .

6

480 163 066 . Form 990-PF (zool

1E 1420 3 000

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Capital Gains and Losses for Tax on Investment Income (c) Dale acquired acquired >atncnase . ti_...__ (mo . daY . n )

(a) Lisp and describe the kind(s) of property sold (e g ,real estate, 2-story brick warehouse, or common stock, 200 shs MLC Co ) 7a b c d e

(d) Dale sold (mo , day. n )

SEE-PART IV SCHEDULE

(e) Gross sales price

(g) Cost or other bass plus expense of sale

(f) Depreciation allowed (or allowable)

(h) Gain or (loss) (e) plus (I) minus (g)

d )m lete only for assets showin g gain in column h and owned b (Q F M V as of 12/31/69

(j) Adjusted 6asts

as of 12/31/69

the foundation on 1

(p Gams (Col (h) gam minus col (k), but not less than -0-) or Losses (from cd (h))

(k) Excess of col (Q

over col (7), d any

If gain, also enter ~n Part I, line 7 If (loss), enter-0-in Part 1, line 7 } 2 capital gain or (loss) as defined in sections 1222(5) and (6) 3 Net short-term lr If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions) 3 loss , enter-0-in Part I, line 8 , If Qualification Under Section 4940 ( e) for Reduced Tax on Net Investment Income (For optional use 6y domestic private foundations subject to the section 4940(a) tax on net investment income ) 2 Capital gam net income or (net capital loss)

{

176

653 482 .

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 Yes OX No If "Yes," the organization does not qualify under section 4940(e) Do not complete this part Enter the appropriate amount in each column for each year, see page 18 of the instructions before making any entries

1

Base period years Calendar year or fax ear loom in 2000 1999

1b) Adjusted qualRying arsNbWOns 19 , 847 , 00613,303,407 9,185,267 . 3 .411 .088

1998 1997

JS4

(C) Net value of nancharilablearse riots

Distribution ratio

700 885 994 .

~

0

446, 15,204 . 261, 18,643 . 186 .900,423

8255522

2 3

Total of line 1, column (d) . . . . . . . . . . . . . . . . . Average distribution ratio for the 5-year base period-divide the total on tine 2 by 5, or by the number of years the foundation has been in existence d less than 5 years , , ,

4

Enter the net value of nonchantable-use assets for 2001 from Part X, line 5 , ,

4

1

S

Multiply line 4 by line 3

S

I

6

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

7

Add lines 5 and 6

8

. ~ - ~ . . . . ~ ~ ~ ~ I 8 1 34,498,033 Enter qualifying distributions from Part XII, line 4 . II One 8 is equal to or greater than line 7, cherJi the OoK m Part VI tine 1 b and complete Ihai pad snug a 1 % tai, rate See the Part VI instructions m page 78

,E  w, o0o

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. . . . . .

. . . . . .

745778

528 .930 .867 1

. .

Form 990-PF (2001) 5

Ise Tax Based on Investment Income (Section 49401a1 . 4940(b) . 49401e1 . or 4948 - see oaae 18 of 1a

Exempt operating foundations described In section 4940(d)(2), check here fl~

LJ and enter "N/A' on line 1

b Domestic or ani~ations that meet the section 4940(e) requirements m Pan V, check

here "

2

1

Date of ruling letter _ _ _ _ -- _ _ _ (attach copy of ruling letter A necessary - see instructions)

X

and enter 114 0f Part[, line 27b

. ,

c All other domestic organizations enter 2% of line 27b Exempt foreign organizations enter 4!i of Part I, line 12, ca (b) Tax under section 511 (domestic section 4947(a)(1 ) trusts and taxable foundations only Others enter -0-) , ,

3

Add lines 1 and 2

6

.), Subtitle A (Income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter-0

5

, , , , ,

Tax based on investment income Subtract line 4 from line 3 11 zero or less, enter -0-

6

Credits/Payments a 2001 estimated tax payments and 2000 overpayment credited l0 2001 b Exempt foreign organizations - tax withheld at source , e Tax paid with application for extension of time to file (Form BB6B) , , , , , d Backup withholding erroneously withheld 7 Total credits and payments Add lines 6a through 6d . . . e

Enter any penalty for underpayment of estimated lax. Check here ~X

.

6a 6b 6. 6d

1

. . .

if Form 2220 is attached

. . . . , , , , , ,

Tax due II the total of lines 5 and 8 is more than line 7, enter amount owed

9

940 000 Nor Nor

Overpayment If line 7 is more than the total of lines 5 and B, enter the amount overpaid 2 ,33 4 . Enter the amount of line 10 to be Credited to 2002 estimated tax "

10 11 7 a b

Refunded

During the lax year, did the organization attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign'!

No

to

X

t6

X

tc

X

2

X

3

X

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of the instructions for definNOn)?

, , ,

_

, ,

, , , , ,

, ,

If the answer 4t'Yes'to la or 16, attach a detailed descnptron W the activities end copies of any materials published or distributed 6y (ha organization m connection with the activities c

Old the organization file Form 7720-POL for this year?

, , ,

, ,

, , ,

d Enter the amount (if any) of lax on political expenditures (section 4955) imposed during the year

(1) On the organization " E

e

(2) On organization managers

, , , ,

_

" $

Enter the reimbursement (if any) paid by the organization during the year for political expenditure tax imposed on organization managers

Ili. $

2

Has the organization engaged m any activities that have not previously been reported to the IRS?

3

Has the organization made any changes, not previously reported to the IRS, m it governing instrument, articles

1I 'Yes,' attach a detailed description of the actioties

of incorporation, or bylaws, a other dinner mstruments7 If 'Yes,' attach e conformed copy of the changes , ,

, , , , ,

4 a Did the organization have unrelated business gross income of $7,000 or more during the yew? 6 6

b If 'Yes," has It filed a tax return on Form 990-T for this yew?

, , _

, , ,

4a

Was there a liquidation, termination, dissolution, or substantial contraction during the year? , , ,

X

4b

, , , , , , ,

N A

6

, , , , ,

X

If 'Yes,' attach the statement required by General InsWCGon 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 m the governing instrument? , , Did the organization have at least E5,000 in assets et any time during the yeah If 'Yas,' canplete Part Il, cd (c), and PertXV , _ 7 8 a Enter the states to which the foundation reports or with which it rs registered (see page 19 0l the Instructions) fi~ FLORIDA AND_HEN_YORK_________________________________________ b If the answer is -Yes' to line 7, has the organization furnished a copy of Form 99D-PF to the Attorney General (or designate) of each state as required by General Instruction G7 If 'No,' attach explanation , , , , , , , , 9 Is the organization claiming status as a private operating foundation within the meaning of section 4942Q)(3) or 4942Q)(5) (or calendar year 2001 or the taxable year beginning in 2001 (sea instructions; for Pan XN on page 25)7 If 'Yes,'tomPlete Part XIV 10 did any persons become substantial contributors during the tax yew? H 'Yes,' attach a schedule listing their names and addresses 71 Did the organization comply with the public inspection requirements (or its annual returns and exemption applicauon'1 . . . . 72

Website address " _____________________________ The boors we in care of ji JEFFAY M PICOWER_

13

Section 4947(a)(1) nonexempt chantable trusts fJirg Forth 990 .PF m Leu of Form 7011 -Check hue . .

NLA_

_____ Telephone no

6 7

X X

8b

X

9 10 17

X X

X

____

X15612 835= 1332

Located at X1410 SOUTH OCEAN BLVD -,_PALLI BEACH ,-FL_-__________ LP+41-___33480 _____________ and enter the amount al tax-exempt Interest received or accrued dump the year .

JSA lEf44O A 000

. .

ll~j

, . . .

. "~

13 "I Forth 990-PF (2001)

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.PF (2001) Form 990 Statements Regarding Activities for Which Forth 4720 May Be Required

5

File Form 4720 if any item is checked in the -Yes" column, unless an exception apples 1 a

During the year did the organization (either directly or indirectly)

E] Yea

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person'! . . . . . . . . . . . . . . . . . (a) Furnish goods, services, or facilities to (or accept them from) a disqualified person? . (6) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?

"

(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)?

. . .

. .

F X1

Yes Yes q V°s

X No X No No

0 Yes

oX

No

a Yes

a Na

(6) Agree to pay money or property to a government official? (Exception Check "No'

if the organization agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days ) " " " " " "

b

c

If any answer is "Yes'to 1a(1)-(6), did any of the acts tail to qualify under the exceptions descnbed in Regulations section 53 4941(d)-3 or in a current notice regarding disaster assistance (see page 19 0l the instructions)? Organizations relying on a current notice regarding disaster assistance check here

. .

. .

~ "~

Did the organization 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 20017 2

.

. . .

. . .

. . .

Taxes on failure to distribute income (section 4942) (does not apply for years the organization "a a private

operating foundation defined in section 49420(3) or 4942Q)(5)) a At the end of tax year 2001, did the organization have any undistributed income (lines 6d and 6e, Part XIII) for tax years) beginning before 20077

. .

If"Yes,"list the years " __________ . _________ . _

1-1 Yes

. . .

~X No

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 incomes (II applying section 4942(a)(2) to all years listed, answer "No" and attach statement - see page 19 of the instructions )

" .

c If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here Did the organization hold more than a 2°6 direct or indirect interest in any business , , a Yes , , , enterprise at any time during the year? , , , , , , b II "Yes," did it have excess business holdings in 2001 as a result of (1) any purchase by the organization 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 70-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

7a

42 b 5a

t/ the organization had excess business holdings in 200 f )

.

. . . . .

. . . . . .

. . . . - -

- "

Did the organization invest during the year any amount in a manner that would jeopardize its charitable purposes'!

E] No

" " " . . . . . .

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 20017 During the year did the organization pay or incur any amount to (1) Carry on propaganda, or otherwise attempt to influence legislation (sedan 4945(e))7

0 Yes

(2) Influence the outcome of any specific public electron (see section 4955), or to carry on, directly or indirectly, any voter registration drive? ,

, ,

, , , ,

. . .

, ,

(3) Provide a grant to an individual for travel, study, or other similar purposes?

. . . . . aNo

Yes

X No

e Yes

8X No

E] Yes

a No

a Yes

EZ No

(4) Provide a grant to an organization other than a charitable, etc , organization descnbed in section 509(a)(1), (2), or (3), or section 4940(d)(2)?

, ,

, ,

, , ,

_

,

(5) Provide for any purpose other khan religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?

b II any answer is "Yes" to Sa(1 )-(5), did any of the transactions tail to qualify under the exceptions described in

5

Regulations section 53 4945 or in a current notice regarding disaster assistance (see page 20 of the instructions)? ll~ 1:1 Organizations relying on a current notice regarding disaster assistance check here . . . c If the answer is 'Yes' to question Sa(4), does the organization claim exemption from the

NBA a Yes

tax because it maintained expenditure responsibility for the grant?

1:1 No

If *Yes," attach the statement required by Regulations section 53 4945-5(d)

6 a Did the organization, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?

, ,

O Yes

b Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? 11 you anssvtted 'Yes' fo 66 also ale Forth 8870

~X

No 6

Forth 990-PF (2001) JSOk tE145a~000

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13-6927043 Form 990-PF(2001) Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,

Page 6

and Contractors

7

List all officers , directors trustees , foundation mana g ers and their com p ensation ( see p a g e 20 of the Instructions ) (b) Title and average hours pet week

(a) Name and address

la) conlr~cuoona m employee eena~ piano

(~) C~P~A^ (If not paid, e~rter

devoted to p05ibon

(a) F~ense aocwrK older allowances

Ana deferred wmpenamn

A1

-------------------------------------------------------------------------------------------------------

_____________________________________y 2

I

I

I

Compensation of five highest-paid employees (other than those Included on line 7 - see page 21 of the instructions) If none, enter "NONE" .aConMbutbmnao~m (b) Title and weekaverage lei Expense account, (n)amoiay eene, a 1 Name and address of each employee em paid more than $50 000 hour . per (c) Compensation "~ other allowances and aeferrea compenvmn devoted to position

COURTNEY A .

O'MALLEY

]DEPUTY DIRE

TOR

----------------------------------------------------------------------------------------------------------------------------------------3

Five highest-paid Independent contractors for professional services - (see page 21 of the Instructions) If none, enter

J T _ MAGEN- 6- COMPANY _ INC_ 44

WEST 28TH

ST . .

NEW YORK,

NY

1000 .

SAZDMORE, _ OKINGS_ 6 M- RRILL_ LLP _-__14 HALL STREET, NEW YORK, NY 10005 QUAItTARARO_ 6_ ASSOCIATES-,- INC-_

122 E . 42ND ST . NEW YORK, FLACK 6_ FCORTZ~- INC--_

NY 10017

-----------------------------------Summary of Direct Charitable Activities List the foundation's lour largest direct Charitable aclr.,bes during the Izotyrvy Include releanl6ia14'Uta1 information such a9 tie numbs of orpan¢alions and other Geneficunes served Conferences convened . research papers produced, Mc

t - - - - - -- -- - - - - - - - - - - -- - - - - - - - - - --- - - -- - - - - -- - - - - - - - - - -- - - -- -- - - - - - - - - - - - - - - - -

2

---------------------------------------------------------------------------NONE ----------------------------------------------------------------------------

3 ---------------------------------------------------------------------------4 ---------------------------------------------------------------------------Fartn990-PF(2001) JSA IE14607000 SW0643

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Amount

NONE - - - - -

------------------------- - - - - - - - - - - - - - - - - - - - - - - - - -

2

-------------------------------------------------------------------------

- - - - - - -- - - - - -- - - - - - - - -

NONE

-------------------------

- - - - - - - - - - - - - - - - - - - - - - - - - -- -- - - - -- -- - - -- - - - - -- - - -- - - - - - -- - - -- --- - --- -

Total Add lines 1 throu gh 3 Minimum investment Return (All domestic foundations must complete this part see page 22 of the instructions ) 1

5 6

Fair market value of assets not used (or held for use) duecUy in carrying out charitable . etc purposes Average monthly fair market value of secun6es . . . . . Average of mouthy cash balances Fair market value of all other assets (see page 22 of the instructions) . . . , Total (add lines 1a, b, and c) Reduction claimed for blockage or other factors reported on lines 1a and 1c (attach detailed explanation) . . I 7e I Acquisition indebtedness applicable to line 1 assets Subtract line 2 from line 1 d Cash deemed held for charitable activities Enter 1 1/2% of line 3 (for greater amount see page 23 of the instructions) Net value of noncharltable-use assets .Subtract line 4 from line 3 Enter here and on Part V, line 4 Minimum Investment return . Enter 5°h of line 5

1 2a b e 7 4a b

. , , , Minimum investment return from Part X, line 6 . Tax on investment income for 2001 from Part VI, line 5 . 2a . Income tax for 2001 (This does not include the tax from Part VI ) . , . 2b Add lines 2a and 2b Disinbutable amount before adjustments Subtract line 2c from line 1 . Recovenes of amounts treated as qualifying distributions 4a . Income distnbuhons from section 4947(a)(2) trusts 4b

a b c d e 2 7 4

5 8

7a

2

4

Distributable Amount (see page 23 of the instructions) (Section 49420(3) and 0)(5) private foundations and certain foreign organizations check here ~ and do not complete this par ,

. . . , ,

. ,

1

1 , 927 , 031 ". 2e . . . . . .

. .

3

NONE:

c Add lines 4a and 4b Add lines 3 and 4c

4e

~ ~ ~ ~ ~ ~ ~ ~ . . . Deduction from distnbutable amount (see page 23 of the mstruchons) ~ . ~ . Distributable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII~ line 1

7

Foreign

6

Qualifying Distributions (see page 23 of the instructions) 1

2 3

4 5 6

a b

a b

Amounts paid (including administrative expenses) to accomplish charitable, etc , purposes Expenses, contributions, grits, etc - total from Part I, column (d), line 26 . . . . Program-related investments -Total from Part IX-B Amounts paid to acquire assets used (or held for use) directly m carrying out charitable, etc , purposes Amounts set aside for specific charitable projects that satisfy the Suitability test (prior IRS approval required) Cash distribution test (attach the required schedule) . _

.

.

1a 16

34

499 , 033 NON

2 , . . .

1a 1b 4

NON NON NON 34 498 033

Qualifying dlstnbutlons . Add lines 1a through 3b Enter here and on Part V, line 8 and Part X111, line 4 Organizations that quality under section 4940(e) for the reduced rate of tax on net investment income Enter 1°.6 of Part I, line 27b (see page 24 of the instructions) . _ . . _ S 1 , 927 , 031 Adjusted qualifying distributions Subtract line 5 from tine 4 6 32 , 571 , 002 Note The amount on line 6 writ be used in Part V, column (6) in subsequent years when calculating whether the loundaUOn quehfies for the section 4940(e) reduction of tax in those years

Forth 990-PF(2001)

JSA tE1470 4 000

SN0643

E299

11/05/2002

17 26 .33 V01-7

745778

9

13-6927043

Farm 990-PF

8

Undistributed Income (see page 24 of the instructions) 1

(a) rtpus

Distnbutable amount for 2001 from Part XI,

(6l Years prior to 2000

line 7

2

I

(c) 2000

I

(d) 2001

undistributed income, ;any .as of tie end d 2000 a

3

Enter amount for 2000 onty

b Total lorpnoryears

Excess distributions carryover, if any, l0 2001

a From 19% b From 1997

, ,

NON

, , , ,

c From 1998

NON

, ,

NON

d From 1999

NON

e

From 2000

f

Total of lines 3a through e

4

NON , ,

Qualifying distributions for 2001 from Part 34,498,033 XII,line 4 . a Applied to 2000, but not more than line 2a , b Applied to undistributed income of poor years (Election required -see page 24 of the instructions) c Treated as distributions out of corpus (Election required - see page 24 0l the instructions) d Applied to 2001 distributable amount

5

e Remaining amount distributed out of corpus Excess distributions carryover applied to 2001 (h an amount appears m column (d), the

same amount must be drown in column (a)) Enter the net total of each column as indicated below

s

a Corpus Add lines 3t, 4c, and 4e Subtract line 5 b Prior years undisinbuted income Subtract c

line 4b from line 2b

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 ,

d Subtract line 6c from line 6b Taxable amount - see page 25 of the instructions e Undistributed income for 7000 Subtract Une 4a from line 2a Taxable amount -see page ZS of the instructions

t 7

8

Undistributed income for 2001 Subtract lines 4d and 5 from line t This amount must be distributed m 2002 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(E)or4942(g)(3)(seepage 25 0l the instructions) , , Excess distributions carryover from 1996 not applied on line 5 or line 7 (see page 25 of the instructions) . , , , . . . . . , , , Excess distributions carryover to 2002 Subtract lines 7 and 8 from line 6a

70 a

Analysis of line 9

Excess from 1997 . .

. . NONI

b Excess from 1998 . .

NONI

c Excess from 1999 .

NONI

d Excess from 2000

NON]

F«m990-PF (saoi)

JSA tE1460 4ODD

SW0643 E299

11/05/2002

17 :26 .33

V01-7

745778

10

T 99O PF

Ia b Ya

b

If the foundation has reserved a ruling or determination letter that d is a private operating foundation, and the ruling is effective far 2001, enter the date of the ruling Check box td indicate whether the organization is a private operating foundation descnbed in secUOn Enter the less d the adjusted net income it= Part I or the minimum mvestment return horn Pan X for each year listed

85% of lire 2a

C

Qualifying Eettmwona fforri Pant RII Ilne A for each year lomea

d

AmoUAU included in brie 2c not uua alret9/ IW .[7M conduct of exempt adMba OVillyhqOidi made abecuv for acWe conduct 0 exempt activities subtract

line 2d if= bre 2c

3

complete Is 0 or clorNe altelnatM bear nlbE upon 0

'NrieYrittemaMmv

enter

0) value maoaaeb

(Y) Value aaaaenvuaihtrro under tecton 4s42jxaKex~)

b

'EnaowmenCaRemawediet -

C

"SUppoTaRemavexst-enter

Enter 7/J of minimum InvrisMrint retrum mown in Pap % fine 6for each year IqeE (1) Total suppn me, than qro.a inamront Ywma (Inbial aAbmMa rend payments on xcuMea loime (aecmn 512(a)(5)1 or ro,amea) (2) support finorn general public end 5 or more ersm0d orpanlnrbna as provided! . section

4s.zUxnMel(m) .

(S) lupaattumwmmauypon from ri Pt organization

i-"A 1

a

Supplementary Information (Complete this part only If the organization had $5,000 or more In assets at any time during the year - see page 26 of the Instructions .)

Information Regarding Foundation Managers . List any managers of the foundation who have contributed more than 2°6 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) ) JEFFRY M

b

2

PICOWEA

List any managers of the foundation who own 10% or more of we stock of a corporation (or an equally large porbon of the ownership of a partnership or other entity) of which the foundation has a 10% or greater interest NOT APPLICABLE Information Re arding Contribution, Gran; Gift, Loan, Scholarship, etc , Programs Check here

1 nif the organization only makes contributions to pmselMeO charitable organizations and does not accept unsolicited requeds for funds If the organization makes gifts, qranls, efc (see page 26 athe instructions) to indmduals or organizations; under other conditions, complete items 2a to, c, and d

a

me 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 i nclude NOT APPLICABLE

c

My submission deadlines

d

Any restrictions or limitations on awards, such as by geographical areas, charitable fields, lands of institutions, a other

NOT APPLICABLE

factors JSA IE749070D0

NOT APPLICABLE

SN0643

E299

11/05/2002

17 26 .33

V01-7

745778

Form 990-PF (2001) 11

-PF 2007 13-6927043 Supplementary Information (continued) 160".990 3 Grants and Contributions Paid Durin the Year or A pp roved (or Future Pa yment if recipient a an indmEUal, FounCabon Recipient show any relatwnslnp to Purpose of grant or status W any foundation manager recipient Name and address (home or business) or substantial coMnEUta a Paid during (he year SEE STATEMENT 9

Amount

32,278,810

b Approved for future payment

" 7b

NONE Fam 990-PF (zaoi)

IE7'91 ]00D SN0643

E299

11/05/2002

17

26

33

V01-7

745778

12

i3-ss27oas

Form 990 .PF (2001) Enter grass amounts unless otherwise indicated

Unrelated business income Business code

7 Program service revenue

Amount

17

Excluded b section 512 573 or 514 Exclusion code

Amount

the mslruchons

a b c d e f g

Fees and contacts from government agencies

Y Membership dues and assessments

3 Interest on saHngs and temporary cash investments

14

4 Dividends and interest from securNes , , . 6 Net rental income or (loss) from real estate

a

Debt-financed properly

b

Not debt-financed property

108 , 131 .

14

15 , 941 , 449

18

176 , 653 , 482

fi Net rental income or (loss) from personal property 7 Other investment income

8 Gain or (loss) from ales M asses aver than inventory 9 Net income or (loss) from special events , , 10 Gross profit or floss) from sales of inventory 77 Other revenue a b c

I

d e

L

72 Subtotal Add columns (b), (d), and (e)

, ,

17 Total Add line 12, columns (b), (d), and (e) ,

192 .703 . 062 .

, , , , , ,

See worksheet in line 13 instructions on page 26 to van

, ,

calculations

X13

192,703,062

Relationshi p of Activities to the Accom plishment of Exem pt Purposes

Line No V

Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the organizahon's exempt purposes (other than by providing funds for such purposes) (See ~ page 27 of the instructions )

Fom,990-13F(2001) JSA IE14974 000

SW0643

E299

11/05/2002

17 .26 .33 V01-7

745778

13

Form se0 PF soot

7

e72

13-6927043

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or Indirectly engage in any of the following With any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations? a Tnhslers from the reporting orpan¢ation to a noncharrtaWe exempt organization of (1) Cash (2) Other assets b Other Transactions (1) Sales of assets to a noncharitable exempt organization , , , , , , , , Purchases of assets from a exempt orpan¢a6on , , , , , , , , , , , , , (2) noncharkable (3) Rental of facilities, equipment, or other assets , , , , , , , , , , , , (4) Reimbursement arrangements , , , , , , , , , , , , , , , , , (5) Loans or loan guarantees (6) Performance of services or membership or lundralwng solicitations ,

c Sharing of facilities, equipment, mailing lists, other assets, or paid employees d

, ,

, , , , , , , , ,

, , , , , , , ,

, ,

, ,

If the answer to any of the above Is-Yea," complete the following schedule Column (b) should always show we fair market

value of the goods, other assets, or services given by the reporting organization If the organization received less than fair market value in any transaction or sharing arrangement, show In column (d) the value of the goods, other assets, or winces

2 a Is the organization directly or indirectly affiliated with, or related to, one or more tax-exempt organizations described in section 501(c) of the Coda (other than section 501(c)(3)) or m section 5277

, , , , , ,

O Yin ~X No

Under penalties of penury, 1 declare that I have examined this retain including accomparryinp echedulc and statements, and to the best of my IuaNedge and belief, a is true, correct, and complete Declaration of preparer (other than taxpayer or fiO ' d 0 S

N

OSCOIArQLLILL Signature of oRca or Wsirx

i _ Preparefs c ' q `m o signature au a a j Firm s name (or yours if self-employed), address, and ZIP sods

' RPMG LLP 345 PARK AVENUE

JsA IEt/9]]000

SW0643 E299

11/06/2002

17

43 05

V01-7

FORM 990-PF - PART IV CAPITAL GAINS AND LOSSES FOR TAX ON INVESTMENT INCOME 14nd of Property Gross sa l e pried less ex penses o sale

Date

Description

Depreciation allowed/

Cost or other

allowable

FMV as of

12/31169

basis

SALE OF SECURITIES -

acquired Gain or flo ss )

cess o FMVover aC basis

Ad) basis as of

12131/AA

Date sold

SEE ATTACHED 3,918,995

SALE OF SECURITIES

-

SEE ATTACHED

F 17 ;73~487

TOTAL GAIN(LOSS)

JsA

'E"'°'°°°

.

.

. .

. . . .

.

. .

. .

SW0643 E299 11/05/2002 17 :26 :33 V01-7

. . . . .

.

. . . . .

745778

17 6,653,482

15

REALIZED GAINS AND LOSSES THE PICOWER FOUNDATION From 01-0/-0/ Through I2-3l-01

Open Date

Close Dale

12-29-00

01-02-01

01-31-01

04-25-01

02-28-01

04-25-01

03-30-01

04-25-01

04-07-95 04-07-95 12-15-94 12-16-94 12-15-94 04 .30-01

OS-02-01 OS-02-01 05-02-01 05-02-01 05-02-01 05-10-01

04-26-94

06-12-01

04-26r94

06-12-01

0d-06-95

06-12-01

04-06-95

06-12-01

12-03-90 12-03-90 06-09-93 07-13-93 04-04-91

06-12-01 06-12-01 06-12-01 06-12-01 06-21-01

04-09-91

06-21-01

01-09-91

06-21-01

01-09-92

06-21-01

04-04-95

06-21-01

04-04-95

06-21-OI

04-04-95

06-21-01

04.04-95

06-21-01

Quantity

Cost Basis

Security

4,099 FIDELITY SPARTAN US TREASURY MONEY MARKET 4,165 FIDELITY SPARTAN US TREASURY MONEY MARKET 242 FIDELITY SPARTAN US TREASURY MONEY MARKET 53,212 FIDELITY SPARTAN US TREASURY MONEY MARKET 26,895 AC.CA7'EL ALSTHOM ADS 32,600 ALCA7'ELALSTHOMADS 10,855 AI.CATEL ACSTHOM ADS 7,172 A1,CATEL ALS77iOM ADS 1,355 A1,CATEL AC.S77i0M ADS 52 FIDELITY SPARTAN US TREASURY MONEY MARKET 75,000 INTL BUSINESS MACHINES CORP 17,000 INTLBUSINFSS MACHINES CORD 48,000 MTI.BUSWESS MACHINES CORD 68,000 IMLBUSINESS MACHINES CORP 53,950 AMERICAN EXPRESS CO 16,850 AMERICAN EXPRESS CO 17,250 AMERICAN EXPRESS CO 15,900 AMERICAN EXPRESS CO 1,248 1 P MORGAN CHASE & CO 1,200 1 P MORGAN CHASE &. CO 1,2001P MORGANCHASE & CO 4,050 1 P MORGAN CHASE &. CO 42,400 f P MORGAN CHASE & CO 51,200 1 P M0RGAN CHASE & CO 74,800 1 P MORGAN CHASE & CO 50,000 J P MORGAN CHASE & CO

t

Gain Or Loss Proceeds

Short Term

Long Term

4,09900

4,09900

000

4,16500

4 .16500

000

24200

24200

000

53,212 00

53,212 00

000

1,084,875 00 1,310,000 00 361,278 37 238,700 00 44,889 57 1200

921,153 75 1,116,550 00 371,787 75 245,641 00 46,408 75 1200

967,968 75

8,775,000 00

7,807,031 25

219,40625

1,991,04000

1,771,633 75

984,00000

5,621,760 00

4637,76000

1,394,000 00

7,973,000 00

6,579,000 00

307,48690 96,03623 142,082 50 144,994 75 6,05000

2 .263,202 50 704,330 00 721,050 00 664,620 00 58,531 20

1,955,715 60 608,293 77 578,967 50 519,625 25 52,481 20

6,85000

56,280 00

49,430 00

6,85000

56,28000

49,43000

29,868 75

189,945 00

160,076 25

473,952 31

1,988,560 00

1,514,617 69

572,307 69

2,406,400 00

1,834,092 31

833,108 97

3,515,600 00

2,682,491 03

556,891 03

2,337,500 00

1,780,608 97

000

-163 .72125 -193,45000 10,50539 6,94100 1,519 18

REALIZED GAINS AND LOSSES THE PICOWER FOUNDATION From O/-01-01 Through 12-31-01

Open Date

Close Date

04-02-91

0621-01

09-1692

0621-01

12-31-92 12-31-92 12-31-92 1231-92 12-31-92 12-31-92 12-31 .92 12-31-92 12-31-92 12-31-92 12-31-92 1231-92 12-31-92 12-31-92 04-06.95 04-06-95 34.06-95 04-06-95 12-31-92 12 .31-92 12-31-92 12-31-92 12-31-92 12-31-92 12-31-92 12-31-92 12-31-92 12-31-92 12-31-92 12-31-92 12-31-92 12-31-92 12-31-92 09-25-92 12-26-00 12-26-00 12-31-92 12-31-92 12-31-92 12-31-92 06-16-93 01-10-94 01-10 .94 06-01-94

06-28-OV 06-28-01 06-28-01 06-28-01 06-28-01 06-28-01 06-29A1 06-29-01 06-29-01 06-29-01 06-29-01 06-29-01 06-29-01 06-29-01 07-02-01 07-02-01 07-02-01 07-02-01 07-02-01 07-02-01 07-02-01 07-02-01 07-02-01 07-02-01 07-02-01 07-03-01 07-03-01 07-03-01 07-03-01 07-03-01 07.03-01 07-03-01 07-03-01 07-05-01 07-05-01 07-05-01 07-05-01 07-0S-01 07-05-01 07-05-01 07 .05-O1 07-05-01 07-05-01 07-05-01

Quantity

Security

624 MORGAN STANLEY DEAN WITTER & CO 9,364 MORGAN STANLEY DEAN WITTER & CO 200,000 ORACLE CORPORATION 230,000 ORACLE CORPORATION 125,000 ORACLE CORPORATION 321 .000 ORACLE CORPORATION 150,000 ORACLE CORPORATION 165 .000 ORACLE CORPORATION 200 .000 ORACLE CORPORATION 225,000 ORACLE COP PORATTON 39.700 ORACLE CORPORATION 170,300 ORACLE CORPORATION 175,000 ORACLE CORPORATION 195,000 ORACLE CORPORATION 204,000 ORACLE CORPORATION 262,000 ORACLE CORPORATION 50 .000 ADOBE SYSTEMS RJC 47 .400 ADOBE SYSTEMS INC 31,600 ADOBE SYSTEMS INC 48,400 ADOBES YS7'EMSQJC 220,000 ORACLE CORPORATION 245 .000 ORACLE CORPORATION 250,000 ORACLE CORPORATION 179,000 ORACLE CORPORATION 185,000 ORACLE CORPORATION 199 .000 ORACLE CORPORATION 207,000 ORACLE CORPORATION 205 .000 ORACLE CORPORATION 220.000 ORACLE CORPORATION 275 .000 ORACLE CORPORATION 203 .000 ORACLE CORPORATION 190.000 ORACLE CORPORATION 175,000 ORACLE CORPORATION 200,000 ORACLE CORPORATION 210,000 ORACLE CORPORATION 69.475 CITIGROUP INC 30,525 CITIGROUP INC 53,974 C177GROUP WC 250,000 ORACLE CORPORATION 275,000 ORACLE CORPORATION 290,000 ORACLE CORPORATION 78,200 ORACLE CORPORATION 174,150 ORACLE CORPORATION 27,650 ORACLE CORPORATION 8,800 ORACLE CORPORATION 10,120 ORACL.ECORPORATION

Cost Balls

Gain Or Loss Proceeds

Short Term

Long Term

6 .04500

40,372 80

34,327 80

90,713 75

605,850 80

515,13705

123,456 79 141,975 31 77,160 49 198,14815 92,592 59 101 .851 85 123,456 79 138,888 89 24,506 17 105,649 07 108,56481 120,972 22 126,555 56 162,537 04 596,87500 518,087 50 378,212 50 579,28750 136,481 48 151,990 74 155,092 59 111,04630 114,768 52 123,453 70 128,416 67 127,175 93 136,48148 170,601 85 125,935 19 117,87037 108,56481 124,074 07 130,277 78 247,453 57 199,175 63 352,180 36 155,092 59 170,601 85 179,907 41 48,512 96 173,612 50 29,186 1I 9,28889 16,25000

3,900,000 00 4,450,500 00 2,375,000 00 6,057,270 00 2,812,500 00 3,085,500 00 3,950,000 00 4,432,500 00 778,914 00 3,341,286 00 3,421,25000 3,800,550 00 3,957,600 00 5,074,940 00 2,376,000 00 2,061,500 00 1,501,000 00 2,293,192 00 4,345,000 00 4,806,900 00 4,900,000 00 3,503,030 00 3,609,350 00 3,874,530 00 4,013,730 00 4,015,950 00 4,272,400 00 5,335,000 00 3,928,050 00 3,648,000 00 3,368,750 00 3,830,000 00 4,006,800 00 3,682,175 02 1,617,824 98 2,852,525 90 4,925,000 00 5,403,750 00 5,678,200 00 1,527,246 00 3,401,149 50 540.004 50 171,33600 197,03640

3,776,543 21 4,308 .524 69 2,297,839 51 5,859,121 BS 2,719,907 41 2,983 .648 15 3,826 .543 21 4,293,611 1I 754,407 83 3,235 .636 93 3,312,685 19 3,679,577 78 3,831,044 44 4,912,402 96 1,779,125 00 1,543,412 50 1,122,787 50 1,713,904 50 4,208,518 52 4,654,909 26 4,744,907 41 3,39 (,983 70 3,494,581 48 3,751,076 30 3,885,313 33 3,888,774 07 4,135 .918 52 5,164,398 15 3,802,114 81 3,530,129 63 3,260,185 19 3,705,925 93 3,876,522 22 3,434,721 45

1,418,649 35 2,500,345 54

4,769,907 41 5,233,148 15 5,498,292 59 1,478,733 04 3 .227,537 00 510,818 39 162,047 11 180,78640

REALIZED GAINS AND LOSSES THE PICOWER FOUNDATION From 0l-01-O1 Through 12-31-01

Open Date

Close Date

Qua¢Uty

05-31-01

07-26-01

06-29-01

07-26-01

292

06-29-OI

07-26-01

1,983

07-03-01

07-26-01

208

07-31-01

08-21-01

81,903

07-03-01

09-04-01

292

07-31-01

09-04-01

08-31-01

09-04-0I

OS-31-01

09-Od-01

09-28-01

10-01-01

10-31-0I

11-02-0I

I1-30-01

12-03-01

TOTAL GAINS TOTAL LOSSES

Security

2,223 FIDELITY SPARTAN US

TREASURY MONEY MARKET FIDELITY SPARTAN US TREASURY MONEY MARKET FIDELITY SPARTAN US TREASURY MONEY MARKET FIDELITY SPARTAN US TREASURY MONEY MARKET FIDELITY SPARTAN US TREASURY MONEY MARKET FIDELITY SPARTAN US TREASURY MONEY MARKET

876 FIDELITY SPARTAN US TREASURY MONEY MARKET 6,444 FIDELITY SPARTAN US TREASURY MONEY MARKET

56,202 FIDELITY SPARTAN US TREASURY MONEY MARKET 264 FIDELITY SPARTAN US TREASURY MONEY MARKET 11,281 FIDELITY SPARTAN US TREASURY MONEY MARKET 88,201 FIDELITY SPARTAN US TREASURY MONEY MARKET

TOTAL REALIZED GAIN/LOSS

Gain Or Loss

Cost Bays

Proceeds

Short Term

2 .22300

2,22300

000

292 00

29200

000

1,98300

1 .98300

000

20900

20900

000

81,903 00

81,903 00

000

29200

29200

000

87600

87600

000

6,444 00

6,44400

000

56,202 00

56,202 00

000

26400

26400

000

11,28100

11,28100

000

88,201 00

88,201 00

000

3,918,994 89

17,452,516 42 176,653,482 43

3

19,105,998 85

000 3,918,994 89

Long Term

173,091,658 78

-357,171 25 172,734,487 .53

F~ 2220

o.wMr"Md n» To +n Internet a~u. s.n .

Underpayment of Estimated Tax by Corporations t See separate Instructions " Attach to the corporation's tax return .

I

Name

~MBHO 755-01~

I

Goo, LS 1

Employer Identification number

THE PICOWER FOUNDATION

1

13-6927043

Note : In most cases, the corporation rtes not need to file Form 2220 (See Part I below for exceptions ) The IRS will figure any penalty owed and 6111 the corporation If the corporation does not need to (de Form 2220, it may still use it to figure the penalty Enter the amount from line 36 on the estimated tax penalty line of the corporation's income tax return but do not attach Form 2220

Reasons for Fling - Check the boxes below that apply to the corporation If any boxes are checked, the corporation must file Form 2220, even if it does not owe the penalty If the box on line 1 or line 2 applies, the corporation ma be able to lower or eliminate the penalty

X

The corporation is using the annualized income installment method

S

X

The corporation is a 'large corporation' figuring its first required installment based on we poor year's tax

4

Total tax (see instructions) . .

7 2

The corporation is using the adjusted seasonal installment method

Note : The corporation also must file Form 2220 i! d has a suspended research credit allowed for the current year (seethe instructions for line 4) or it is an indirectly affected taxpayer (see instructions)

. . . . . . .

.

.

. .

. . . . .

5 a Personal holding company tax (Schedule PH (Form 717) line 26) included on line 4

, , 15. 1

b Look back interest included on line d under seem S60(b)(3) (at completed long-term contracts or section 767(p) !or depreciation under the income forecast method

, ,

15c I

c Credit for Federal tax paid on fuels (see instructions) d Total Add lines Sa through Sc 6

, , , , , ,

, , , , , , , ,

Subtract line 5d from line 4 If the result is less than $500, do not complete or file this form The corporation does not owe the penalty

7

_

, , ,

, ,

, , , , , ,

, , ,

Enter the tax shown on the corporations 2000 income tax return Caution Sea instructions before completing

886

this line 8

Enter the smaller of line 6 or line 7 If the corporation must skip l ine 7, enter the amount from tine 6

9

Installment due dates Enter in columns (a) through (d) the 15th day of the 4th (Farm Y70PF filer, Use Std month) sin 91h, and 11th months of the corporations tax year Exception EnterOCtoberl 2001 instead afSeptember 75 700'1 . . .

70

Required installments If the box on line 1 and/or line 2 above is checked, enter the amounts from Schedule A, line 40 If the box on line 3 (but not 1 or 2) rs checked, see instructions for the amounts to enter II none of these boxes are checked, enter 25°.6 0l line 8 above in each column

11

Estimated tax paid

or

credited

for each

period

(see

instructions) For column (a) only, enter the amount from line 11 online 15 Complete fines " 12

through

78

0! me column "6Aoie

going to the next column 12

Enter amount, if any, from line 18 0l the preceding column

73

Add lines 11 and 12

14

Add amounts on lines 16 and 17 0l the preceding column

15 76

Subtract line 14 from line 13 If zero or less, enter -0- , , , ,

II the amount on line 15 is zero, subtract line 13 from line

9 120,00

00 .000

131

14 Othervnse,enter-O 17

Underpayment if line 15 is less than or equal to lute 10 subtract line 15 from line 70

18

Otherwise, go to fine 18

Then go to line 12 of the next column

Overpayment If line 10 is less than line 15, subtract line 10

Complete Partition page 2 to figure the penalty II Uhere are no entries on line 17, no penalty Is owed

For Paperwork Reduction Act Notice, see separate Instructions JIM 1F0954 1000

SW0643 E299 11/05/2002 17 :26 :33 V01-7

745778

F«m 2220 (zoos)

24

6 , Form,2220 (2001)

Page 2

Figuring the Penalty 19

Enter tie dace o! payment or the 75th day of the 3rd month after the close of the tax year wturlheRr a earlier ( see malncLeru) (FmniDPPFsdFwmD9aTfllen Use51h month instead of 3b month

20

Number of days tram due date U irMaAmeM on line 9 to the date shown on line 19

21

Number of days on line 20 after Uf5R001 and before 711nW1

22

Underpayment on line 17 z Number of days on line 21 k 8%

$3

Number of days on line 20 after 6q02001 and before I/lJ`2O()2

24

Underpayment online 17 x NumGer al Aays on line 23 x 7%

25

Number of day . online M after 17/3101001 and Oolan u117002

28

Underpayment online 17 x Number of days online ZS z 6%

27

Number of days online ZO allot 3J7/100] and before 71112002 . ,

28

Underpayment online 17 K Number of days an line 27 x'%

29

Number or a .n eo line 20 aft., 6nOr2OO2 and bar.,. 10/1,2002

30

Underpayment on line 171t Numberofdaysonline2l) x-% 365

31

Number of days online 20 aRer 9/30,2002 and before lllrt003

32

Underpayment online 17 K Number of days online 37 x'% 365

33

Number o! Card online 20 ~Mar 17/J1/100] and before L76/7003

74

Underpayment on line 17 z Number d love on Irtre 33

365

365

365

365

365

35

Add lines 22 24 26, 28, 30 32, and 39

, , , ,

36 Penalty Add columns (a) through (d), of line 35 Enter the total here and on Forth 1120, line 33, Forth 1120-A, line "For underpayments geld after March 11, 2002 For lines 28, 30, 32, and 34, use the penalty interest rate for each calendar quarter, which the IRS will determine during the first month m the preceding quarter These rates are published quarterly m an IRS News Release and in a revenue ruling in the Internal Revenue Bulletin To obtain this information on the Internet, access the IRS Web Site at www Irs .gov . You can also call 1-800-829-1040 to get interest rate information Fonn2220 (2001)

JSA f F0955 4 000

SW0643 E299 11/05/2002 17 :26 :33 V01-7

745778

25

Form 2220 2001

FTaTTRI~_\ Form 1720S filers

Paqe 3 Annualized Income Installment Method and/or the Adjusted Seasonal Installment Method Under Section 6655(e) (see Instructions) For lines 2, 74, 15, and 16, below *taxable income refers to excess net passive income or the amount on which tax

Part I - Annualized Income Installment Method

2

First

2

1

First

3

1

First

6

1

First

9

Enter taxable income for each annual¢alion

3 Annualization amounts (see instructions) 4 Annualized taxable income Multiply line 2 5

Figure the tax on the amount m each column on line 4 using the instructions for Form 1120, Schedule J, line 3 (or the

6

8

comparable line of the tax return

Enter other taxes for each payment period

5

For each period, enter the same type of credits as allowed on Form 2220, tines 4

9 Total tax after credits Subtract tine 8 from

12 Add the amounts in all preceding columns 13 Annualized income installments Subtract line 12 from line t1 If zero or less, enter -0fYll 11 `MYJYiICY JC05VIId111151A11111C111 1Y1CY1VY JliOUlIV117 VSC IlIW //ICllIUU V//I)

any 6 consecutive months is at least 70'.6 See instructions for more information 74

15

First 3

1

First S

I

First B

nrsx r months

I

nrn o months

I

nrsi a months

1

First 11

Enter taxable income for ihefolbwingperoEs

c Tax year beginning in 2000 Enter taxable income for each period for the tax

76

Enter taxable income for the following penods

17

Divide the amount in each column on line

Entire yeah

14a by the amount in column (d) on line 16a

78

19

Divide the amount in each column on line 14b by the amount in column (d) on line t6b Divide the amount in each column an line 14c by the amount in column (d) on line Form2220 (2001)

1 F0956 i 000

SW0643 E299

11/05/2002 17 :26 :33 V01-7

745778

26

First 4 monVts

20

Add lines 77 thr oug h 19

20

27

Divide line ZO by 3

21

22

Divide line 15 by line 21

22

23

Figure one tax m me amwnt on line 22 using

First 6

First 9 months

months

Entire year

the instructions la Form 1120, Schedule J line 3 (or the comparable line al the return) yd

line 16a by the amount in column (cll ran line 16a 26

24

Divide lie amount in columns (a) through (c) on line 16b

26

23

Divide the amount in columns (a) through (c) on

the amount in column d on line 76b

25

DrviEe the amount in columns (a) through (c) on line 76c b

the amount in column d) on line 16c

26

27

Add lines 24 throug h 26

2

28

Divide line 27 by 3

20

29

Multiply the amount in columns (a) through (c) of line 23 by columns (a) through (c) of line 28 In [damn (d) enter Me amount from fire 23 column (d)

30

29

Enter other taxes for each payment period (see in9nxtnns

30

31

Total tax Add lines 29 and 30

3

32

For eacnPill enter Nenm. type or credbaaallwve0an Form 2Y70 lineal 4 and! 5c (sae

33

32

Total lax after credits Subtract line 32 horn line 31

Ilzerovless enter -0-33

34

Add the amounts in all preceding columns al line 40 (sea instructions)

35

Adjusted seasonal Installments Subtract line 34 tram line 33 If zem a less enter-0-

34 35

Part III - Required Installments

36

1st

2nd

3rd

installment

installment

installment

4th

a only one of me Meow Parts b conplatill enter Me amount N each calumn hen we 13 > tree 35 It bout Pam N mmpMM enber me Smaller Of the amounts lneach column tmmline t3«Iaa35

37

36

(Not. 'L~rp~ ca-paeUwa' ass N~ lti^^-"^- " b Ilro f0 for tne .mounuromter)

37

Subtract line CO of the Precedi n g cdumn from hne 39 of the preceding column

30

39

Adalines 97anaJe

39

40

Required Installments Enter the smaller of line 36

;8

77 , 041 .

31 , 030 .

1

219

Enter 25%ofline ponFare i of Form 2220 NnNcolumn

orline 39here anCOnpage ldForm 7170fire10

40

4e1

481

7 .5e .

758 .

77 .41 .

481

758 .

481

4 04

717

85 5- 1

886

475 .

31 .030_

1

337

1 .219 . .

6 Fam2220 (001)

1 F0937 Z 000

SW0643 E299 11/05/2002

17 :26 :33 V01-7

745778

27

13-6927043

.THE~PICOWER FOUNDATION

PENALTY " COMPUTATION DETAIL - FORM 2220

DATE PD -------

QUARTER 3,

UNDERPAYMENT ------------

RATE PERIOD 2

ii/zi/zooi

END DATE --------

BEG .DATE --------

$

PENALTY

(10/01/2001 - 12/31/2001)

i,oa7,sz7io/oi/2ooi

TOTAL TO FORM 2220,

TOTAL UNDERPAYMENT

DAYS

LINE 24,

ii/2i/2ooi

7

10,635 . 10,635 .

COLUMN C

10,635 .

PENALTY

SW0643 E299 11/05/2002 17 .26 :33 VO1-7

51

745778

28

13-6927043

THE PICOWER FOUNDATION

FORM 990PF,

PART I

- LEGAL FEES REVENUE AND EXPENSES PER BOOKS ---------

DESCRIPTION LEGAL FEES TOTALS

SW0643 E299

11/05/2002 17 :26 :33 V01-7

NET INVESTMENT INCOME ------

64,274 . ------------ -----------64,274 . NONE

745778

16

ADJUSTED NET INCOME ----------------NONE

CHARITABLE PURPOSES 64,274 -------64,274

STATEMENT

1

THE PICOWER FOUNDATION

FORM 990PF,

PART I

13-6927043

- ACCOUNTING FEES REVENUE AND EXPENSES PER BOOKS ---------

DESCRIPTION

ACCOUNTING FEES

TOTALS

SW0643 E299 11/05/2002 17 :26 :33 VO1-7

NET INVESTMENT INCOME ------

1,200 . ------------ --------1,200 . NONE

745778

17

ADJUSTED NET INCOME ------

CHARITABLE PURPOSES --------

1,200 -----------NONE

----------1,200

STATEMENT

2

THE PZCOWER FOUNDATION

FORM 990PF,

PART I

13-6927043

- OTHER PROFESSIONAL FEES

DESCRIPTION -----------

PROFESSIONAL FEES CONSULTING FEES OUTSIDE SERVICES TOTALS

SW0643 E299

11/05/2002 17 :26 :33 V01-7

REVENUE AND EXPENSES PER BOOKS ---------

CHARITABLE PURPOSES --------

7,650 . 36,000 . 6,205 . -----------49,855 .

7,650 36,000 6,205 ----------49,855

745778

18

STATEMENT

3

13-6927043

THE PICOWER FOUNDATION

FORM 990PF,

PART I

- TAXES REVENUE AND

EXPENSES PER BOOKS

DESCRIPTION

EXCISE TAXES FICA SUI TOTALS

SW0643 E299 11/05/2002 17 :26 :33 VO1-7

CHARITABLE PURPOSES

4,641,343 . 19,296 . 1,773 . -----------4,662,412 .

745778

NONE 19,296 1,773

21,069

19

STATEMENT

4

13-6927043

THE PZCOWER FOUNDATION

FORM 990PF,

PART I - OTHER EXPENSES REVENUE AND EXPENSES PER BOOKS ---------

DESCRIPTION COMPUTER EXPENSE

CHARITABLE PURPOSES --------

14,751 .

14,751 .

1,453 .

1,453 .

412 .

412 .

1,598 .

1,598 .

25,450 .

25,450 .

3,416 .

3,416 .

1,626 .

1,626 .

62 .

62 .

MOVING EXPENSE

14,019 .

14,019 .

EXPENSE

32,538 .

32,538 .

15,098 .

15,098 .

195 .

195 .

2,025 .

2,025 .

343 . -----------112,986 .

343 . -----------112,986 .

DATA PROCESSING DUES & SUBSCRIPTIONS ENTERTAINMENT EXPENSE INSURANCE MAINTENANCE

6 REPAIR

MESSENGER EXPENSE MISCELLANEOUS EXPENSE

OFFICE

OFFICE SUPPLIES POSTAGE REGISTRATION b FEES TELEPHONE TOTALS

SW0643 E299 11/05/2002 17 :26 :33 V01-7

745778

20

STATEMENT

5

THE PICOWER FOUNDATION

FORM 990PF,

PART II

13-6927043

- U .S . AND STATE OBLIGATIONS ENDING BOOK VALUE ----------

DESCRIPTION TREASURY BILLS - GOLDMAN SACHS TREASURY BILLS - B . MADOFF

786,406 . 379,853,879 . -----------380,640,285 .

TOTALS

SW0643 E299 11/05/2002

17 :26 :33 V01-7

ENDING F'MV ---

745778

21

788,272 . 381,794,569 . --------------382,582,841 .

STATEMENT

6

13-6927043

'HE` PZCOWER FOUNDATION

PART II

'ORM 990PF,

- CORPORATE STOCK

PORTFOLIO APPRAISAL THE PICOWER FOUNDATION D,ecerAberjl, 2001

a4

Quantity

01110N SCOCR 5-94 12,500

Security

d-91 4-94 &94 0.90 8-01 8-01

35,600 86,000 43,100 78,200 280,000 543,000

A-91 1-07

15,600 34,398

&94

41,300

&91

12,000

1-91

31,200

8-01 &01

282,000 305,000

'

150,000

B-01

372,000

3-07 9-91 8-94

250,000 68,400 57,500

3-01 &94 2-95

420,000 222,750 448,000

O-01

199,000

9-01

190,000

ALCATEL ALSTHOM ADS AMGEN INC BELLSOUTH CARP BIOOEN INC CATERPILLAR INC CENTEX CORP CIRCUIT CITY STOflESINC FANNIE MAE FIDELITY SPARTAN US TREASURY MONEY MARKET GAIIANER GROUP PLC ADR GENERAL ELECTRIC CO JOHNSON & JOHNSOIJ K8 HOME KRISPY KREME DOUGHNUTS INC NATIONAL SEMICONDUCTOR CORP NETWORK APPLIANCE INC PEOPLGSOFf !NC PFIZER INC PHILLIPS PETROLEUM SIEBEI SYSTEMS INC STAPLES INC TEXAS INSTRUMENTS INC TIME WARNER TELECOM CL A TOLL BROTHERS INC

unit Cast

Total Cost

3313

41-4,110 43

654 1369 823 1936 4137 1700

1655

Pet. Assets

20"7'5' 00 00 00 00 00 00 00

Car

Incorne

Yield

-207,23543

4,25000

21

4 6 5 8 2 7

1,778,401 50 2,552,700 00 2,116,844 37 2,604,675 00 4,558,100 00 4,858,560 00

000 68,880 00 000 107,712 00 49,400 00 38,0`1000

00 20 00 26 03 03

1378 100

214,987 50 34,398 00

7950 1 00

1 .240,200 00 34,398 00

02 00

1,025,21250 000

18,72000 000

15 00

1066

448,656 30

2695

1,113,035 00

02

664,378 70

56,168 00

50

5 19

62.26000

4008

480,06000

01

418,7 5000

7,68000

16

1159

361,725 00

5910

I .M .920 00

04

1,482,195 00

39,93600

22

3222 3616

9,084,940 00 11,029,950 00

4010 4420

11,308,200 00 13,481,000 00

22 2 6

2,223,260 00 2,457,050 00

84,600 00 000

07 00

1737

2,606,250 00

3079

4,618,500 00

09

2,012,250 00

000

00

1E 82

5,514,740 00

21 87

8,135,640 00

1 6

2,620,900 00

000

00

34 16 553 2577

8,541,000 00 378,150 00 1,481,937 50

4020 3985 6026

10,050,000 00 2,725,740 00 3,464,850 00

1 B 05 07

1,509,000 00 2,347,590 00 1,983,012 50

000 35,568 00 78,200 00

00 1 3 23

21 53 409 544

9,044,300 00 910,250 00 2,43,000 00

2798 1870 2600

11,757,600 00 4,165,425 00 12,544,000 00

22 08 24

2,707,300 00 3,255,175 00 10,108,000 00

000 000 38,080 00

00 00 03

1384

2,753,310 00

1769

3,520,310 00

07

767,000 00

000

00

6,391,780 00

4390

1 6

1,949,2-20 00

8,341,00000

141,649,152 00

0 0 0 0 3 2

Annual

6644 3816 5735 5226 5709 2595

86,264,752 85

2,009,284 3,357,200 2,471,785 4,738,200 16,556,100 14,090,850

00

Unrealized GaID/Low

50 00 62 00 00 00

3364

232,82 1,204,600 354,840 1,533,626 11,998,000 9,232,290

Market Value

Price

27155,384,39915

000

622,204 00

00

04

PORTFOLIO APPRAISAL

THE PICOWER FOUNDATION Goldman, Sachs & Co December 3/, 2001

Date

Quantity

)MA10N SI'OCR ~26-00 60,003

Security AMERICAIJ IIJTL GROUP

Unit Cost

241

Total Cost

144,849 35 144,849 35

Price

7940

Market Value

4,764,238 20 4,764,238 20

Pet Assets

85 7

Unrealized Gatn/Lon

Annual Income

Cur 1jeld

4,619,388 85

10,080 50

02

85 7 4,619,388 85

10,08050

02

STATEMENT

7

THE PICOWER FOUNDATION

13-6927043

COMMON STOCK SHARES

SECURITY

437,461 CYTOICINE PHARMASCIENCES, INC

COST 2,500,226

MARKET VALUE

2,500,226

STATEMENT 7

THE PICOWER FOUNDATION FORM 990PF,

PART VIII

13-6927043 - LIST OF OFFICERS, DIRECTORS, AND TRUSTEES

NAME AND ADDRESS ---------------JEFFRY M .

C/O THE

PICOWER

PICOWER FOUNDATION

TITLE AND TIME DEVOTED TO POSITION ------------------TRUSTEE 25 HRS/WK

CONTRIBUTIONS TO EMPLOYEE BENEFIT PLANS

COMPENSATION ------------

EXPENSE ACCT AND OTHER ALLOWANCES

NONE

NONE

NONE

22,679 .

2,321 .

NONE

BARBARA PICOWER

EXECUTIVE DIRECTOR 50 HRS/WK

NORMAN B . LEVENTHAL C/O THE PICOWER FOUNDATION

TRUSTEE .75 HRS/WK

NONE

NONE

NONE

WILLIAM D .

TRUSTEE .75 HRS/WK

NONE

NONE

NONE

C/O THE PICOWER FOUNDATION

TRUSTEE .75 HRS/WK

NONE

NONE

NONE

MARTIN R . POST C/O THE PICOWER FOUNDATION

TRUSTEE .75 HRS/WK

NONE

NONE

NONE

22,679 .

-----2,321 .

---------NONE

C/O THE

PICOWER FOUNDATION

2ASEL

C/O THE PZCOWER FOUNDATION GERALD C .

MCNAMARA

GRAND TOTALS

SW0643 E299 11/05/2002 17 :26 :33 V01-7

745778

23

STATEMENT

8

Chuck Vest Massachusetts Institute of Technology 77 Massachusetts Avenue Cambridge, MA 02139

200,000 10,000,000

1

75,000

2

125,000

3

250,000

4

33,100

5

150,000

6

50,000

7

111,261

8

100,000

9

10,000

10

11,104,361

1

Lone Slutsky The NY Community Trust/Summer in the City 2 Park Avenue New York, NY 10016-9385 Norman Holman New York Public Library Fifth Ave and 42nd Street New York, NY 10018 Gary Simons Prep for Prep 328 West 71st Street New York, NY 10023 John van Dalen School of the Arts Foundation, Inc 477 South Rosemary Avenue, Suite 218 West Palm Beach, FL 33401 Dianne Bailargeon Seedco

915 Broadway, Suite 1703 New York, NY 70010 Robert Mornson VH-1 Save the Music Foundation 1515 Broadway New York, NY 10036 Cynthia Mersmann Visiting Nurse Service of New York 107 East 70th Street Annette Berkovitz Wildlife Conservation Society 2300 Southern Boulevard Bronx, NY 10460 John Maltby Autism Society of America 7910 Woodmont Ave Bethesda, MD 28104

STATEMENT 9

Myles Gordon American Museum of Natural History Central Park West at 79th Street New York, NY 10024-5192

125,000

1

100,000

2

8260 Willow Oaks Corporate Drive PO Box 10444 Fairfax, VA 22031 Elizabeth Stock Computers for Youth

56,000

3

2112 Broadway, Suite 513 New York, NY 10023

50,000

4

100,000

5

50,000

6

50,000

7

35,000

8

25,000

9

40,000

10

631,000

2

Amy Barzach Boundless Playgrounds 1 Regency Drive Bloomfield, CT 06003 William H Gray United Negro College Fund

Bonnie Meltzer Facing History and Ourselves 16 Hurd Road Brooklme, MA 02445 Kenneth Dudeck Fountain House 425 West 47th Street New York, NY 10036-2304 Gladys Carrion Inwood House 320 East 82nd Street New York, NY 10028 Regina Peruggi Marymount Manhattan College 221 East 71 st Street New York, NY 10021-4597 Earl Martin Phalen B E.l L Foundation 60 Clayton Street Dorchester, MA 02122 Thomas Cahdl Studio in a School 410 West 59th Street New York, NY 10019

American Ballet Theatre The Peter T Joseph Studios 890 Broadway New York, NY 50003-1278 Deborah Miller Children's Academies for Achievement

75,000

1

355 Lexington Ave, 4th Floor New York, NY 10017

75,000

2

125,000 69,500

3

50,000

4

60,000

5

150,000

6

100,000

7

100,000

8

124,000

9

50,000

10

978,500

3

David Rivel City Parks Foundation The Arsenal, Central Park 830 Fifth Ave New York, NY 10021 Hans Hageman East Harlem School at Exodus House 309 East 103rd Street New York, NY 10029 Jenny Morgenthau Fresh Air Fund 1040 Avenue of the Americas New York, NY 10018 Christina Giammalva Friends of the Family Academy 240 West 113th Street New York, NY 10026 Christine Scomavacca The Metropolitan Museum of Art 1000 Fifth Avenue New York, NY 10028-0198 Alan Fnedman New York Hall of Science 47-01 111th Street Flushing MeadowsCorona Park, NY 11368 Ronay Menschel Phipps Community Development Corporation 43 West 23rd Street New York, NY 10010 Ruth Lande Schuman Publicolor 114 East 32nd Street, Suite 900 New York, NY 10016

Leslie Fmdlen Brooklyn Cultural Adventures Program 1000 Washington Ave Brooklyn, NY 11225-1099

15,000

1

15,000

2

5,000

3

5,000

4

5,000

5

20,000

6

37,000

7

15,000

8

2,500

9

5,000

10

124,500

4

Janet Offensend Brooklyn Kindergarten Society 1360 Fulton Street, #513 Brooklyn, NY 11216 Will Weiss City Center 130 West 56th Street New York, NY 10019 William Akin Concerned Citizens of Montauk, Inc P 0 Box 915 Montauk, NY 11954 Jim Martindale Cystic Fibrosis Foundation Florida Chapter - Palm Beach Office 2200 North Florida Mango Road, Suite 304 West Palm Beach, FL 33409 Jaqueline Pine Early Stages Program of New York 330 West 42nd Street New York, NY 10036 Tish W dmenng American Heart Association 1301 South Olive Avenue West Palm Beach, FL 33480 Bunny Williams Tads in Need 60 East 66th Street, Suite 28 New York, NY 10021-6540 Frednck J Schoen, M D , PhD Bngham and Women's Hospital Department of Pathology 75 Francis Street Boston, MA 02115 Ruth Madof( Queens College Foundation 65-30 Kissena Blvd. Flushing, NY 11367

Karen Brooks Hopkins Brooklyn Academy of Music 30 Lafayette Avenue Brooklyn, NY 11217

25,000

1

15,000

2

10,000

3

10,000

4

25,000

5

15,000

6

100,000

7

250,000

8

250,000 305,000

9

150,000

10

1,155,000

5

Nancy Mahon God's Love We Deliver 166 Avenue of the Americas New York, NY 10013 Maryanne Bohatyntz The H O P E Project 5 Harvard Circle West Palm Beach, FL 33409 Graham Macmillan Helen Keller Worldwide 90 West Street New York, NY 10006 Ernesto Loperena New York Council on Adoptable Children 666 Broadway New York, NY 10012 George Polsky StreetSquash 245 Seventh Avenue, Suite 11 B New York, NY 10001 Gretchen Buchenholz Association to Benefit Children 419 East 86th Street New York, NY 10028 Santa Gupta CARE 650 First Avenue New York, NY 10076 Phil Coltoff Children's Aid Society 105 East 22nd Street New York, NY 10010 Julia Enkson City Harvest 575 8th Avenue, 4th Floor New York, NY 10018

1 Robert Kushen Doctors of the World 375 West Broadway, 4th Floor New York, NY 10012

150,000

2

70,000

3

140,000

4

85,000

5

333,200 1,000

6

100,000

7

62,000

8

40,000

9

1,000,000

10

Nancy Lublin Dress for Success 19 Union Square West, 6th Floor New York, NY 10003 Ralph Nunez Homes for the Homeless 36 Cooper Square, Sixth Floor New York, NY 10003 Carol Kellermann Learning Leaders 352 Park Avenue South New York, NY 10010-1709 Ron Crystal New York Hospital/Cornell Medical Center 1300 York Avenue, Box 96 New York, NY 10021 Christine Orr-Cahill Norton Museum of Art 1451 South Olive Avenue West Palm Beach, FL 33401 Darlene Kostrub Palm Beach Literacy Coalition 551 SE 8th Street, Suite 101 Delray Beach, FL 33483-5183 Ldliam Barrios Paoli United Way of NYC-Child Care & Early Ed Fund 2 Park Avenue New York, NY 10016 William Baker W NET/Channel Thirteen 450 West 33rd Street New York, NY 10001

1,981,200

6

Shane Harris North Bronx Mennonite Church Friends of Lauren Martinez 3262 Rochambeau Ave Bronx, NY 10467 The Picower Institute for Medical Research 350 Community Drive Manhasset, NY 11030 Joel Sesser Gdda's Club New York City 195 West Houston Street New York, NY 10014

5,000

1

150,000 1,450,000 3,000,000 300,000 300,000

2

15,000

3

2,500

4

25,000

5

50,000

6

201,000

7

146,000

6

5,000 500,000 150

9

100,000

10

6,249,650

7

Rev Dr Walter J Smith The HeaIthCare Chaplaincy 307 East 60th Street New York, NY 10022 Gary Dunning Big Apple Circus 505 Eighth Ave New York, NY 10014 Rabbi David Rosenn AVODAH 443 Park Avenue South New York, NY 10016 Roxanne Spdlett Boys and Girls Clubs of America 1230 West Peachtree Street NW Atlanta, GA 30309-3447 Mary O'Connor Boys and Girls Clubs of Palm Beach County 800 Northpoint Parkway, Suite 204 West Palm Beach, FL 33407-1946 Judith Mitchell Kravis Center 701 Okeechobee Blvd West Palm Beach, FL 33401 Brother Brian Carty, FSC De La Salle Academy 202 West 97th Street New York, NY 10025

George McDonald The Doe Fund 232 East 84th Street New York, NY 10028

75,000

1

75,000

2

15,000

3

engd Beyea JumpstarUNew York 505 Eighth Avenue, Suite 2207 New York, NY 10018 Kathleen Vergara University of Miami School of Medicine Mailman Center for Child Development Debbie Institute, P O Box 014621 Miami, FL 33101 Robert Hughes New Visions for Public Schools 96 Morton Street New York, NY 10014

35,000 150,000

4

5 Martha Baker Nontraditional Employment for Women 243 West 201h Street New York, NY 10011 Glona Feldt Planned Parenthood Federation of America 810 Seventh Avenue New York, NY 10019 Timothy P Shaver, Ph D Special Olympics 1325 G Street, NW, Suite 500 Washington, D.C 20005-3104 Nancy Biberman W HEDCO 70 West 36th Street, Suite 702 New York, NY 10018 Paula Gawn YMCA of Greater New York 333 Seventh Avenue New York, NY 10001

40,000

6

250,000

7

250,000

8

50,000

9

100,000

10

1,040,000

8

Hollis Headnck The Center for Arts Education 225 West 34th Street, Suite 820 New York, NY 10028 Dr Irwin Redlener Children's Asthma Initiative Children's Health Fund 317 East 64th Street New York, NY 10021 Dr Irwm Redlener Children's Health Fund 317 East 64th Street New York, NY 10021 Marcia Stein Citymeals-On-W heels 355 Lexington Avenue - 3rd Floor New York, NY 10017-6603

92,000

1

1,000,000

2

100,000

3

50,000 95,000

4

5 Ilene Solomon Communities in Schools 230 South Dixie Highway, #200 Lake Worth, FL 33460 Courtney Welsh Harlem Educational Activities Fund 2090 Seventh Avenue 10th Floor New York, NY 10027 Alan Sadowsky Kramer Senior Services Agency, Inc 4847 Fred Gladstone Drive West Palm Beach, FL 33417 Hattie Jutigar Lincoln Center Theater 150 West 65th Street New York, NY 10023-6975 Kate Michelman NARAL Foundation 1156 15th Street, Suite 700 Washington, D.C 20005

92,000

6

75,000

7

40,000

8

50,000

9

500,000

10

2.094,000

9

Deidre Meyerson National Helpers Network 875 Sixth Avenue, Suite 205 New York, NY 10001 Philip Whdacre Palm Beach Community Chest United Way 44 Coconut Row, Suite M201 Palm Beach, FL 33480 Goefirey Canada Rheedlen Center for Children and Families 2770 Broadway New York, NY 10025 Cheryl Sandier UJA - Federation of New York 130 East 59th Street New York, NY 10022 Sandra Gregerman University of Michigan - UROP College of Literature, Science, and the Aris 715 N . University #201 Ann Arbor, MI 48104-1611 Amalia Batanzos Wildcat Service Corporation 17 Battery Place New York, NY 10004 Sol Adler 92nd Street Y 1395 Lexington Ave New York, NY 10128 Elizabeth Callaghan Big Brothers Big Sisters of Palm Beach County 2122 South Congress Avenue, Suite 2000 West Palm Beach, FL 33406-7670 Jerry Katzke Bonnie Youth Club 1221 Church Avenue Brooklyn, NY 11218 Dr Edward Levine & Rosalmd Geraigiry P.S 169M Board of Education of NYC 110 East 88th Street New York, NY 10128

30,000

1

50,000

2

1,000,000

3

500,000

4

80,000 100

5

100,000

6

100,000

7

25,000

8

5,000

9

1,999

10

1,892,099

10

Darracori Vaughn, Jr National Kidney Foundation of NY/NJ 1250 Broadway New York, NY 10001-3795

5,000

1

20,000

2

5,000

3

1,500

4

25,000

5

1,000

6

10,000

7

Academy for Better Communities 11300 North East Second Avenue Miami Shores, FL 33161-6695 Mr Michael Posner Lawyers Committee for Human Rights

200,000

8

333 Seventh Avenue New York, NY 10001-5004

125,000

9

50,000

10

442,500

11

Joan Malin Planned Parenthood of New York City 26 Sleeker Street New York, NY 10012 Melinda Utal-Martinez Survivors of the Shoah P 0 Box 3168 Los Angeles, CA 90078-3168 Janine Nina Trevens TADAI 120 West 28th Street New York, NY 10001 Yeshiva University 500 West 185th Street Suite BH-717 New York, NY 10033 Rabbi Joseph Gelberman The New Synagogue 7 West 96th Street New York, NY 10025 Mr Charles MacCormack Save the Children 54 Wilton Road Westport, CT 06880 Ms Jacqueline B Mondros Barry University

Lillian Tamayo Planned Parenthood of Palm Beach 5372 Broadway West Palm Beach, FL 33407

Mr Joseph Lewn Southern Poverty Law 400 Washington Avenue Montgomery, AL 36104 Mr Sean Peen United States Olympic Committee (USOC) 1 Olympic Plaza Colorado Springs, CO 80909 Mr Steve Manotti National Fdn for Teaching Entrepreneurship 120 Wall Street, 29th Flooor New York, NY 10005 Ms Joyce Roche Girls Incorporated 120 Wall Street New York, NY 10005-3902 Ms Katherine Foster New York City Ballet New York State Theater 20 Lincoln Center New York, NY 10023 Ms Regina Peruggi Central Park Conservancy 14 East 60th Street New York, NY 10022 Mr Barry Grove Manhattan Theatre Club 311 West 43rd Street New York, NY 10032 Ms Cathy D'heron Area Agency on Aging of PB/Treasure Coast 1764 North Congress Avenue Suite 201 West Palm Beach, FL 33409 Ms Tana Ebbole Children's Services Council - Beacon Schools 1919 North Flagler Drive West Palm Beach, FL 33480 Mr John Randolph Palm Beach Fellowship of Christians and Jews 139 North County Road Suite 18A Palm Beach, FL 33480

545,000

1

100,000

2

35,000

3

200,000

4

25,000

5

125,000

6

50,000

7

161,000

8

300,000

9

5,000

10

1,546,000

12

i Ms. Janet Benshoof The Center for Reproductive Law and Policy 120 Wall Street New York, NY 10005 Mr. Terry Allen Children's Behavioral Health Initiative 45th Street Mental Health Center 1041 45th Street West Plam Beach, FL 33407 Ms. Lucy Fnedman The After School Corporation 925 Ninth Avenue New York, NY 10019 Ms. Wendy Kopp Teach for America 315 West 36th St , 6th Floor New York, NY 10 185 Mr Jonathan W. Kolker The American Joint Distribution Committee, Inc 711 Third Avenue New York, NY 10017-4014 Mr. Rodney Kirsch Pennsylvania State University 116 Old Main University Park, PA 16802-1501 Ms. Lisa Versaa People for the American Way 2000 M Street, NW Suite 400 Washington, D .C . 20036

250,000

2

107,000

3

70,000

4

200,000

5

25,000

6

25,000

7

25,000

8

9

Ms Joan Wexler Brooklyn Law School 250 Joralemon Steet Brooklyn, NY 11201

1,500

10

703500

13

Ms Pnscilla Burton CaP CURE 1250 Fourth Street, Suite 360 Santa Monica, CA 90401

10,000

1

733 Third Ave 12th Floor New York, NY 10017 Mr Herbert Podell Family & Children's Association - Podell Haven

1,000

2

100 East Old Country Road Mineola, NY 11501

5,000

3

1,000

4

1,000

5

1,500

6

1,500

7

7,500

8

7,500

9

2,500

10

38,500

14

Mr Jerome J Radwin American Foundation for AIDS Research

Mr Jim Sirch Connecticut Audubon 2325 Burr Street Fairfield, CT 06430 Mr Michael F. Jacobson, Ph D Center for Science in the Public Interest 1875 Connecticut Avenue Suite 300 Washington, D C. 20009-5728 Mr Joseph T Skarupa Fairfield Fire Fighters Local 1426 P 0 Box 261 Fairfield, CT 06430 Lt Edward Redly Fairfield Police Explorer Post 279 100 Reef Road Fairfield, CT 06430 Ms Ana Oliveira Gay Men's Health Crisis 119 West 24th Street New York, NY 10011-1913 Mr Michael Stotts George Street Playhouse 9 Livingston Avenue New Brunswick, NJ 08901-1903 South Florida Chapter The Susan J Komen Breast Cancer Foundation P 0 Box 880 West Palm Beach, FL 33402

"'

Mr Miles Lerman United States Holocaust Memorial Museum P 0 Box 90988 Washington, D C 20090-0988

10,000

1

10,000

2

5,000

3

5,000

4

15,000

5

500

6

2,500

7

2,250,000

8

Mr David Krentel Melmark Home 2600 Wayland Road Benvyn, PA 19312 Ms Mornka Ddlon Museum of Modern Art 11 West 53rd Street New York, NY 10019 Chief V K Elmore Town of Palm Beach Fire Rescue 360 South County Road P O Box 2029 Palm Beach, FL 33480 Mr Mark Kator Isabella Geriatric Center 515 Audubon Avenue New York, NY 10040 Mr Lewis Fomon Preservation Foundation of Palm Beach 356 South County Road Palm Beach, FL 33480 Evelyn Lauder The Breast Cancer Research Foundation 767 Fifth Avenue New York, NY 10153 Ralph Nappi North Shore University Hospital 125 Community Drive Great Neck, NY 10021

9

10 2,298,000

15

a

`

r

THE PICOWER FOUNDATION

13-6927043

FORM 990-PF . PART II, LINE 14 - LAND BUILDING AND EQUIPMENT Furniture & Fixtures Office & Computer Equipment Computer Software Leasehold improvements Accumulated Depreciation

1,621,692 145,806 10,782 4,654,317 6,432,597 ( 192,963) 6,239,634

FORM 990-PF . PART L LINE 19 - DEPRECIATION Furniture R Fixtures Office & Computer Equipment Computer Software Leasehold Improvements

74,896 9,428 1,162 107,477 192,963

STATEMENT 10

1 r

Farm ease b12-2ooo)

Additional (not automatic) 3-Month Extension, complete only Part 11 and check this box 0 If you are filing t If dyou have already been granted an automatic 3-month extension on a previously filed Form 8f Note Only camp. 0 If you are filino for an Automatic 3-Month Extension, complete only Part I (on page 1) Type or print

File by the

e~tem~r« f." w^ return

itional (not automatic) 3-Month Extension of Time Name of Exempt Organization The Picower Foundation

Must File Onamal and One Conv Em loyer identification number ~3 ;6927043

Number street, and room a suite no If a P O box see instructions

For IRS use only

1410 South Ocean Boulevard

City town a post office, stale, and ZIP code For a foreign address see instructions s I Palm Beach, Florida 33480 Check type of return to be filed (File a separate application for each return) 0 Form 990-T (sec 401(a) or 408(4) trust) Q Form 1041-A a Form 990 D Form 990-EZ 0 Form 990-BL IN Form 990-PF El Forth 990-T(trus[other than above) El Form 4720

0 Form 5227 d Form 8870 El Form 6069

STOP Do not complete Part II if you were not already granted an automatic 3-month extension on a previously filed Form 8868 e If the organization does not have an once or place of business In the United States, check this box 1 " If this is (or a Group Return, enter we or anizaUOn s four digit Group Exemption Number (GEN) If this is I! it is for part of the group, check this box " ~ and attach a list with the for the whole group, check this box " names and EINs of all members the extension is for

I request an additional 3-month extension of time until _ NOV201heX' 15 . , 20 0 For calendar year ? 0 O 1 or other tax year beginning .. . ._ . . , 20 . and ending

4 5 1

20 . . . If this tax year is for less than 72 months check reason D Initial return 0 Final return ~ Change m accounting period State in detail why you need the extension .-All _necessaLy__ information need -e- d to --- ------------. _ __ _ yet _ been__received ------- comPleze ..the return his _not

6 7

8a If this application is for Form 990-BL 990-PF, 990-T 4720, or 6069, enter the tentative tax less any nonrefundable credits See instructions

b If this application is for Form 990-PF, 990-T, 4720, or 6069 enter any refundable credits and estimated, tax payments made Include any prior year overpayment allowed as a credit and any amount paid previously with Form 8868

$ 1,927,031 .

c

Balance Due Subtract line 8b from line 8a Include your payment with this form or, d required deposit with FTD coupon or, d required by using EFTPS (Electronic Federal Tax Payment System) See instructions

$ 1,940,000 .

$

Signature and Verification

under penaRies of peUu7 I declare that I have examined this form, including accompanying schedules and statements and to the best of my knowledge and belief n is we correct, end complete and that I am auth orized to prepare this lam

Signature "

.

,

Title "

k " dDZA

Date " F

O }.

,~~/~ Notice to Applicant-To Be Completed by the IRS ~ ~V' CJ~ We h:ve approved this application Please attach this form to the organization s return shown below or thaYQue Cl We have not approved this application However we have granted a 10-day grace period from she Wtee ofihe date of the organization's return (including any pea extensions) This grace period is considered to be vaLde ension of time fQr,~ec~n s otherwise required to be made on a timely return Please attach this form to the organization's return ~ ~ S 9~}U~ '~~ I deztenslonoLl+rre We have not approved this application After considering the reasons stated in hem 7, we cannot grant y N ~~~ o to file We are nor granting a 10-day grace period we cannot consider this appl=tlon because It was filed aRef the due date of the return for which an e enrpqeAle~ v ~ O Other -- -- -- -,t~,~ 11~2

By Al~temate Mailing Address - Enter the address d you want the copy of this application for an r~ returned to an address different than we one entered above Name

Typo or prim

The Picower Foundation Number and street (include wile, room, or apt no ) Or a P O box number 1410 South Ocean Boulevard City or town, province or state, and country (Including postal or ZIP code) Palm seach . Florida 33480

_, ~vpe~(=//_~ SFp ~' -

BU~~~.O~

4oD,

,~CTO /i ~~Y

Form 8868 b12 2oool

--

Application for Extension of Time To File an

, 8868

(December 2000) -

Exempt Organization Return

Depanmem of pie Treasury Intmial Reveiue Service

OMB No 15<5 1709

" File a sep arate a pplication (or each return

" If you are filing for an Automatic 3-Month Extension, complete only Part I and check this box " I( you are filing for an Additional (not automatic) 3-Month Extension, complete only Part II (on page 2 of this form) Note Do not complete Part 11 unless you nave already been granted an automatic 3-month extension on a previously filed Form 8868 Automatic 3-Month Extension of Time-Only submit original (no copies needed) ~/ Note Form 990-T corporations requesting an automatic 6-month extension-check this box and complete Part 1 only

All other corporations (including Form 990-C filers) must use form 7004 to request an extension of time to ale income tax

" D

returns Partnerships, REMICs and trusts must use Form 8736 to request an extension of time !o file Form 1065, 7066, or 7047 Employer idennfcauon number Name of Exempt Organization Type or

The Picower Foundation

pant

File e the

duo

ler«

filing your

return See

instructions

13 6927093

Number street, and room or style no If a P O box see instructions

1410

South Ocean Boulevard

City town or post office state and ZIP code For a foreign address see instructions

Palm Beach,

Florida 33480

Check type of return to be filed (file a separate application for each return)

0 Form 990-T (corporation) 0 Form 990-T (sec 401(a) or 408(a) trust)

0 Form 990 Form 990-BL

El Form 4720 D Form 5227

C3 Form 990-T (oust other than above) 0 Form 6069 D Form 8870 13 Form 1041-A " If the organization does not have an office or place of business m the United States, check this box " If this is for a Group Return, enter the organizations four digit Group Exemption Number (GEN) Form 990-EZ Form 990-PF

for the whole group check this box " E] If it is for part of the group, check this box " El names and EINs of all members the extension will cover

" D If this is

and attach a list with the

1

August 15 1 . 20 02 I request an automatic 3-month (6 month, for 990-T corporation) extension of time until to file the exempt organization return for the organization named above The extension is for the organization's return for [N calendar year 20 O l or .. . . 20 , and ending . . .. . 20 D tax year beginning .

2

If this tax year is for less than 12 months check reason

a Initial return

D Final return El Change in accounting period

3a If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069. enter the tentative tax, less any nonrefundable credits See instructions b I( this application is for Form 990-PF or 990-T, enter any refundable credits and estimated tax payments made Include any prior year overpayment allowed as a credit

c Balance Due. Subtract line 3b from line 3a Include your payment with this form, or, d required, deposit with FTD coupon or, d required, by using EFTPS (Electronic Federal Tax Payment System) See instructions Signature and Verification

1 , 927 , 03 1 . $ 1,940,00 0 .

$

-0-

under penalties of perjury I declare that I have examined this form including accompanying schedules and statements aid m the best of my knov6ledge and belief n Is true cmett and complete and that I am authorized to prepare this fmm r

For

'ii/ .

I `.K.pV

Act Notice, see Instruction

Trustee Cat No 27976D

.

May 8,

2002

Form 8868 I12 2000l