Picower Foundation -- 2004 Tax Return

Form99D " PF Department of the Treasury InLemal Revenue service

Return of Private Foundation

G Check all that apply E] Initial return Name of organization Use the IRS

, 2004, and ending

E] Final return

The Picower Foundation

Room/suite

I Fair market value of all assets at end J Accounting method . 0 Cash El Accrual of year (from Part fl, cot (c), E3Other (specify) . . . . . . . . . . . . . . . . . . . . . . . . . . . line 16) " $ 540622754 .00 (Part l, column (d) must be on cash bass) Analysis of Revenue and Expenses (the total of (a) Revenue and

00

1 Contributions, gifts, grants, etc , received (attach schedule) 2 Check " El if the foundation is not required to attach Sch B 3 Interest on savings and temporary cash investments 4 Dividends and interest from securities 5a Gross rents b Net rental income or (loss) 6a Net gain or (loss) from sale of assets not on line 10 b Gross sales price for all assets on line 6a 16984483 . 7 Capital gain net income (from Part IV, line 2) 8 Net short-term capital gam . 9 Income modifications . Qs es aAd allowances ~ c Gross profit or (I (attach schedule) 1 ~ i o schedule 1~`~dta~'A~f1d'line~s 1 ~ ugh 11

n ' rs, directors, trustees, etc . 4, ~pl sala ies and wages Q 15 Pension plans, employee benefits w 16a Legal fees (attach schedule) .

b Accounting fees (attach schedule)

c Other professional fees (attach schedule) Interest . . . Taxes (attach schedule) (see page 14 of the instructions) Depreciation (attach schedule) and depletion . Occupancy , Travel, conferences, and meetings Printing and publications . Other expenses (attach schedule) . 24 Total operating and administrative expenses . Add lines 13 through 23

17 18 '~ 19 '~ 20 -p 21 ~ 22 ~ 23 +r tv

0 25 27

Contributions, gifts, grants paid _ . .. .

_ . . , __

Subtract line 26 from line 12 . a Excess of revenue over expenses and disbursements b Net investment income (if negative, enter -0-) c Adjusted net income (if negative, enter -0-)

I

expenses per books

[] Name change

A Employer identification number 13 .6927043 B Telephone number (see page 10 of the instructions) ( 561 ) 835-1332 C If exemption application is pending, check here I- El

H Check type of organization : Z Section 501(c)(3) exempt private foundation Section 4947(a)(1) nonexempt charitable trust 0 Other taxable private foundation

amounts m columns (b), (c), and (d) may not necessarily equal the amounts m column (a) (see page 11 0f the instructions))

20

Address change

E) Amended return

Otherwise, Number and street (or P 0 box number d mail is not delivered to street address) print 1410 South Ocean Boulevard or type. See Specific city or town, state, and ZIP code Instructions. Palm Beach, Florida 33480

d

2004

Note: The organization may be able to use a copy of this return to satisfy state reporting requirements

For calendar year 2004, or tax year beginning

label.

OMB No 1545-0052

or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation

D 1 . Foreign organizations, check here

" D

E If private foundation status was terminated under section 507(b)(1)(A), check here . " D F It the foundation is in a 60-month termination under section 507(b)(1)(B), check here , " 0

I (b) Net in, stment ~nco ..

26012 .00 4799721 .00

.

2. Foreign organizations meeting the 85% test, check here and attach computation . El

(d) Disbursements

(c) Adjusted net income

for charitable purposes (cash basis only)

26012 .00 4799721 .00

2978030 .00 2978030 .00

7803763 .00 25962 .00 427028 .00 64959 .00 494931 .00 17950 .00 46758 .00

7803763 .00

0 .00

64959.00 494931 .00 17950 .00 46758 .00

125899 .00 651104 .00 1019531 .00 2291 .00

1019531 .00 2291 .00

135255 .00

135255 .00

3011668 .00

2244602 .00

34520651 .00

r~+,'~;~,~;°,."~y s (26716888 .00)

5or Privacy Act and Paperwork Reduction Act Notice, see the instructions .

t 0 .00 t3k .,

0.001

33753585 .00

7803763.00 Cat No 112B9X

Form 990-PF (2004)

i i i

Forr1 990-PF (2004) Attached schedules and amounts m the description column Balance Sheets should 6e for end-of-year amounts only (See instructions ) 1 2 3 4 5

Page 2 End of year (b) Book Value (c) Fair Market Value 9234.00 9234.00 2480259 .00 2480259 .00

Beginning of year /a) Book Value

Cash-non-interest-bearing . . . , . . . . , , , Savings and temporary cash investments . , . . , , Accounts receivable 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less : allowance for doubtful accounts " . . . . . . . . . . . . . . . . . . . _ Pledges receivable ------- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: allowance for doubtful accounts " . . . . . . . . . . . . . . . . . . . . . Grants receivable . . . .

Receivables due from officers, directors, trustees, and other disqualified persons (attach schedule) (see page 15 of the instructions) . , . . . . 7 Other notes and loans receivable (attach schedule) " . . . . . . . . . . . . . . . Less . allowance for doubtful accounts " . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Inventories for sale or use 9 Prepaid expenses and deferred charges . . . , , , 10a Investments-U S and state government obligations (attach schedule) b Investments--corporate stock (attach schedule) . , , , c Investments--corporate bonds (attach schedule) . . . 11 Investments-land, buildings, and equipment basis " . . . . . . . . . . . . . . . Less accumulated depreciation (attach schedule) " . . . . . . . . . . . . . . . . . . 12 Investments-mortgage loans 13 Investments-other (attach schedule) . 14 Land, buildings, and equipment basis ". . . . . . . . . . . . . accumulated depreciation (attach schedule) " _ . .2?8844 .00_ 15 Other assets (describe ", . . . . . . . . . . . . . . . . . . . . . . _Transit . . . . . . . . . Chek . . . .. . . ) 16 Total assets (to be completed by all filers-see page 16 of the instructions . Also, see page 1, item I) .

5028.00 1594474 .00

6

~ Q

d 20 -J

17 18 19 20 21 22

Accounts payable and accrued expenses . . . . Grants payable . . . . Deferred revenue . . . . . Loans from officers, directors, trustees, and other disqualified persons Mortgages and other notes payable (attach schedule) Other liabilities (describe - ------------------------------------- )

23

Total liabilities (add lines 17 through 22) .

.

~:.

.

11126 .00 357234733 .00 77137920 .00

337405145 .00 71238616 .00

.

339031568 .00 194174027 .00

~

5574272 .00 1810 .00

4925636 .00 2030 .00

4925636 .00 2030 .00

441559363 .00 709 .00

416060920 .00 962 .00

540622754 .00

709 .00

962 .00

Organizations that follow SFAS 117, check here and complete lines 24 through 26 and lines 30 and 31 .

a> c m c p 40 Q

24 25 26

Unrestricted . . . Temporarily restricted . . . Permanently restricted . Organizations that do not follow SFAS 117, check here " ~ and complete lines 27 through 31 .

27 28 29 30

Capital stock, trust principal, or current funds . , , , , Paid-in or capital surplus, or land, bldg ., and equipment fund Retained earnings, accumulated income, endowment, or other funds Total net assets or fund balances (see page 17 of the instructions) . . . . . . . . . . . . , , , .

31

Total liabilities and net assets/fund balances (see page 17 of the instructions .

a 441558654 .00

416059958 .00

441558654 .00

416059958 .00

441559363 .00

416060920 .00

f

t2 k :s~;~;~;'

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). . . . . . . , . , . , . . . 2 Enter amount from Part I, line 27a . . . . 3 Other increases not included in line 2 (itemize) " Appreciation._in . .donatesi__&eCUr?.tie 4 Add lines 1, 2, and 3 . . . . . . . . . . . . . . . . . . . . . , , , , , 5 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 . .

1 2 3 4

441558654.00 (26716888 .00) 1218192.00 416059958 .00

5 6

416059958 .00 Form 990-PF (2004)

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Fomt 990-PF (2004)

Page 3

Capital Gains and Losses for Tax on Investment Income

(b) How acquired P-Purchase D-Donation

(a) List and describe the kind(s) of property sold (e g , real estate, 2-story back warehouse, or common stock, 200 shs MLC Cc)

1a b c d e

(c) Date acquired (mo, day, yr )

(d) Date sold (mo, day, yr )

ATTACHED

(g) Cost or other basis plus expense of sale

(n Depreciation allowed (or allowable)

(e) Gross sales price

(h) Gain or (loss) (e) plus (1) minus (g)

a

d e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 U) Adjusted basis as of 12/31/69

(Q F M V as of 12/31/69

(1) Gams (Col (h) gain minus col (k), but not less than -0-) or Losses (from col (h))

(k) Excess of col (i) over col 0), if any

d e

If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7 } 3 Net short-term capital gam or (loss) as defined m sections 1222(5) and (6)' If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions) . 2 Capital gam net income or (net capital loss)

2

2978030.04

If (loss), enter -0- in Part I, line 8 . 3 FOM Qualification Under Section. 4940 (e), for Reduced Tax . on Net . Investment Income

(For optional use by domestic private foundations subject to the section 4940(4) tax on net investment income) If section 4940(d)(2) applies, leave this part blank . Was the organization liable for the section 4942 tax on the distributable amount of any year in the base period? D Yes If "Yes," the organization does not qualify under section 4940(e) . Do not complete this pan .

0 No

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries . (e) Base period years

(b) Adjusted qualifying distributions

Calendar year (or tax year beginning in)

(c) Net value of noncharitable-use assets

24323660 .00 29845287 .00 32571002.00 19847006 .0 13303407 .00

2003 2002 2001 2000 1999 2 Total of line 1, column (d)

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494652888 .00 506059967 .00 528930867 .00 700885994 .0 446115204 .00

. . . . . 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 . . . , ,

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.

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

,

7 Add lines 5 and 6

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0 .049173 0 .058976 0 .061579 0 .028317 0 .029821

0 .227866

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,

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,

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3

0 .045573

4

511691265 .00

5

23319306 .00

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.

,

,

,

.

.

,

,

,

,

,

,

6

78038 .00

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,

,

,

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,

7

23397344 .00

4 Enter the net value of noncharitable-use assets for 2004 from Part X, line 5 . 5 Multiply line 4 by fine 3

(d) Distribution ratio

(cot (b) divided by coI (c))

33753585 .00 8 8 Enter qualifying distributions from Part XII, line 4 , , . . . . . , . . . , , , 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 on page 18

Form 990-PF (2004)

r Form,990-PF (2004)

Page 4

Excise Tax Based on Investment Income Section 4940(a) , 4940( b) , 4940 (e) , or 4948-see page 18 of the instructions 1a Exempt operating foundations described m section 4940(d)(2), check here " El and enter "N/A" on line 1 . Date of ruling letter: ------ . . . . . . . . . . (attach copy of ruling letter if necessary-see instructions) b Domestic organizations that meet the section 4940(e) requirements in Part V, check here " m and enter 1 /o of Part I, line 27b . . . . . . . , . . . . . , . . . c All other domestic organizations enter 2% of brie 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-) 3 Add lines 1 and 2 . . . . . , . , . . . . . . . . . 4 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 . If zero or less, enter -0- . 6 Credits/Payments 154580 .00 6a a 2004 estimated tax payments and 2003 overpayment credited to 2004 6b b Exempt foreign organizations-tax withheld at source . , 6c c Tax paid with application for extension of time to file (Form 8868) 7 8 9 10 11

d Backup withholding erroneously withheld . . . . . . , . 6d Total credits and payments Add lines 6a through 6d . . , . . . . , . . , Enter any penalty for underpayment of estimated tax Check here [] if Form 2220 is attached . Tax due . !f the total of lines 5 and 8 is more than line 7, enter amount owed Overpayment. If line 7 is more than the total of lines 5 and B, enter the amount overpaid . . . " 76542 .00 Enter the amount of line 10 to be: Credited to 2005 estimated tax " Refunded " Statements Re g ardin g Activities

.

~ 

.w 78038 .00

g

78038 .00

5

78038 .00

7

r- ~~ ~A.``_ 154580 .00

10 it

1a During the tax year, did the organization attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign? . , . . . . . . . . . . . , , . , b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of the instructions for definition)? , . . . . . . . . . . . . . . . . . . . . . , if the answer is "Yes" to la or ib, attach a detailed description of the activities and copies of any materials published or distributed by the organization in connection with the activities

c Did the organization file Form 1120-POL for this year? . . , . . . . . . . . , . . , , . d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year . (2) On organization managers . " $ (1) On the organization . " $ e Enter the reimbursement (if any) paid by the organization during the year for political expenditure tax imposed

on organization managers . " $ Has the organization engaged in any activities that have not previously been reported to the IRS? If "Yes, " attach a detailed description of the activities 3 Has the organization made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments If "Yes," attach a conformed copy of the changes . 4a bid the organization have unrelated business gross income of $1,000 or more during the year? . . , . . . . . . . . . . ,N/,A, , b If "Yes," has it fled a tax return on Form 990-T for this year? 5 Was there a liquidation, termination, dissolution, or substantial contraction during the year? . . . . , If "Yes," attach the statement required by General Instruction T. 2

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? , , . . . , ,

Did the organization have at least $5,000 in assets at any time during the year? If "Yes," complete Part 1!, cot. (c), and Part XV. 8a Enter the states to which the foundation reports or with which it is registered (see page 19 of the instructions) " Florida and New York 7

---------------------------- . . . . . .-----------------------------------------------------------------------

76542 .00

1a

- Yes

No

ib

J

,1c

... . ..

3' 4a 4b 5

y

J

---- ' ?

J

--

J

'

b If the answer is "Yes" to line 7, has the organization furnished a copy of Form 990-PF to the Attorney -----' 8b General (or designate) of each state as required by General Instruction G? If "No," attach explanation i 9 Is the organization claiming status as a private operating foundation within the meaning of section 4942Q)(3) ' - --or 49420(5) for calendar year 2004 or the taxable year beginning in 2004 (see instructions for Part XIV on . 9,1: page 25)? If "Yes," complete Part XIV . . . . . , . . . . . . . . . . , . . , . . . 10 10 Did any persons become substantial contributors during the tax year? If "Yes, " attach a schedule listing their names and addresses 11 `~ 11 Did the organization comply with the public inspection requirements for its annual returns and exemption application? Web site address t _N/A--------------~------------------------------------------------------- ------------- -~ 12 The books are in care Oi l,' ~effry M :Picower_ . .------------~------------------------------- Telephone no- . -"~-~~~5~1=$35=13~~ ---------------------33480 Located at " 1410 South Ocean .Boulevard,_Palm _Beach,.Florida ---------~--~----------- ZIP+4 " ----------------------------13 Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF m lieu of Form 1041-Check here . . , . , " D " 1 13 1 and enter the amount of tax-exempt interest received or accrued during the year .

Form 990-PF (2004)

Form Q90-PF (2004)

Statements Reqardina Activities for Which Form 4720 May Be

fired

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies . 1a During the year did the organization (either directly or indirectly) ~ (1) Engage in the sale or exchange, or leasing of property with a disqualified person? (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? . . . . , , . . , , . . . . . . . . . , . (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? [] (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? 0 (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)?

(6)

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Page 5

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Yes No Yes

0 No

Yes 0 No Yes 0 No Yes 0 No Yes

0 No

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 .) . . . .

D Yes W1 No b If any answer is "Yes" to 1 a(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 20 of the instructions)? . , Organizations relying on a current notice regarding disaster assistance check here . . . . . " El

c Did the organization engage in a prior year in any of the acts described m la, other than excepted acts, that were not corrected before the first day of the tax year beginning m 2004? . . . . . , . . . 2 Taxes on failure to distribute income (section 4942) (does not apply for years the organization was a private operating foundation defined in section 49420(3) or 49420(5)) :

a At the end of tax year 2004, did the organization have any undistributed income (lines 6d . and 6e, Part XIII) for tax year(s) beginning before 2004 . . If "Yes," list the years " 20 . . . . , 20 . . . . , 20 . . . . , 20 . . . ._

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~ Yes

fib 5,11 1c r

0 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 (If applying section 4942(a)(2) to all years listed, answer "No" and attach statement-see page 20 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 " 20 . . . . , 20 . . . . , 20 . . . . , 20 . . . . . 3a Did the organization hold more than a 2% direct or indirect interest in any business

enterprise at any time during the year?

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Yes

El No

b If "Yes," did it have excess business holdings in 2004 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 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine . . , if the organization had excess business holdings in 2004 .) . . . . . . . . . 4a Did the organization invest during the year any amount in a manner that would jeopardize its charitable purposes b Did the organization make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2004? . . . , 5a During the year did the organization pay or incur any amount to . (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? D Yes 0 No (2) Influence the outcome of any specific public election (see section 4955), or to carry D Yes ~ No on, directly or indirectly, any voter registration drive? . . . . . . . . . . (3) Provide a grant to an individual for travel, study, or other similar purposes? . . . D Yes ONO (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)? . . . . . . . . . . D Yes W3 No (5) Provide for any purpose other than religious, charitable, scientific, literary, or Yes W3 No educational purposes, or for the prevention of cruelty to children or animals?

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 page 20 of the instructions)? Organizations relying on a current notice regarding disaster assistance check here , . , N/A " [] c If the answer is "Yes" to question 5a(4), does the organization claim exemption from the N/A . tax because it maintained expenditure responsibility for the grant? . . . If "Yes," attach the statement required by Regulations section 53 .4945-5(d)

~ Yes

[:1 No

6a Did the organization, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? . . . . . . . . . . . . . . Yes 0 No b Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? If you answered "Yes" to 6b, also file Form 8870

-

3b 4a

J J

4b

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4

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"~ 5b N + .,.'

6b

Y ; ,`~

Form 990-PF (2004)

i

P age

Form'990-PF (2004)

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors List all officers, directors, trustees, foundation mana g ers and their compensation (see p age 20 of the instructions) . (b) Title, and average (c) Compensation (d) Contributions to (e) Expense account, (a) Name and address (I( not paid, enter hours per week employee benefit plans other allowances devoted to posluon -0-) and deferred compensation

1

. See . . . . . Schedule . . . . . . . . . . . . Attached, . . . . . . . . . . . . . . . . . . . . _ .,----------------

23042 .00

NONE

2920 .00

2 Compensation of five highest-paid employees (other than those included on line 1-see page 21 of the instructions). If none, enter "NONE ." (a) Name and address of each employee paid more than $50,000

.Alice A._Tan . ._ . . . . . . .. . . . . .. . .. . . . . . . . . . . . .. . . . . . . . . . . . . . . .

(b) Title and average hours per week devoted to position

(c) Compensation

employee benefit plans and deferred compensation

Program Officer

84468.00 40 hrs/week CIO The Picower Foundation Martha A . Livingston Program Director --- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ------55829 .00 C/O The Picower Foundation 30 hrs/week Stanley Baumblatt S Proqram --~---~--------- ------ . -------- - . .. . . .----------------- ----- $~~~~eweek 52782.00 CIO The Picower Foundation rs Ellen Flax __, ._ . . . . . . . . ._ ._ ._ .____________Program Dir ' for ---- . . . . . . . . . . . . . ~ . . . . . . . . . . . . 51343 .00 CIO The Picower Foundation 40 hrs week

(e) Expense account, other allowances

1736 .00

NONE

11774 .00

NONE

1687 .00

NONE

2658.00

NONE

Total number of other employees paid over $50,000 " NONE 3 Five highest-paid independent contractors for professional services-(see page 21 of the instructions) . If none, enter "NONE ." (a) Name and address of each person paid more than $50,000

(b) Type of service

Morgan, Lewis & Bockius, LLP - - - - . . . ... .. . . - ------------------------------~ - - - - - --------------------------PO Box 8500 S-6050 , Philadelphia , PA 1 9178-6050

(c) Compensation

Legal

180116 .00

Hogan & Hartson LLP - - - ------ ------------------------- --~----------~----------------------- 555 13th Street NW, Washington , D.C . 20004-11 09

Legal

167548 .00

Hodgson RussLLP - ----- . . .-------------------------------------------------- .---~------- .--~ One M&T Plaza, Suite 2000, Buffalo, NY 14203-2391

Legal

83112.00

Legal

611 30.00

Sutherland, Asbill, & Brennan, LLP ------ ---------~-- -------- . ---~ ------ ----- ---~------- -- ---------------------------------999 Pea ch tree Street NE , Atlanta , GA 30309 -3996

Total number of others receiving over $50,000 for professional services

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t

NONE

Summary of Direct Charitable Activities List the foundation's tour largest direct charitable activities during the tax year Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc 1

Expenses

NONE

2

3

4

Form 990-PF (2004)

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Fomt 990-PF (2004)

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Summa

Page 7

of Program-Related Investments see page 22 of the instructions

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2 1 NONE

Amount

2 All other program-related investments See page 22 of the instructions 3 NONE

NON , 0. Total. Add lines 1 through 3 . JiM Minimum Investment Return . (All domestic foundations must complete .this part . Foreign foundations, see page 22 of the instructions ) 1

Fair market value of assets not used (or held for use) directly in carrying purposes : . . , . . . a Average monthly fair market value of securities . . b Average of monthly cash balances . . . . , . . . . . . . . . c Fair market value of all other assets (see page 22 of the instructions) . . d Total (add lines 1a, b, and c) . . . . . . . . . . . . . , . e

2 3 4 5 6

out charitable, etc ., . . .

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111a 1b 1c 1d

517010288 .00 2473230 .00 NONE 519483518.00

Reduction claimed for blockage or other factors reported on lines 1 a and 1 c (attach detailed explanation) . . NONE 2 Acquisition indebtedness applicable to line 1 assets . . . . . . . . . , 519483518 .00 3 line 2 1 . . . Subtract from line d . . . . . . . . . . . . . . Cash deemed held for charitable activities . Enter 1'/z% of line 3 (for greater amount, see page 23 7792253 .00 , , 4 . . . . . , , of the instructions) . . . . . . . . . . . . . . 5 511691265 .00 Net value of noncharitable-use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4 Minimum investment return . Enter 5% of line 5 . 25584563 .00 ~6 T Distributable Amount (see page 23 of the instructions) (Section 49420(3) and 0)(5) private operating foundations and certain foreign organizations check here " El and do not complete this part )

1 Minimum investment return from Pan X, line 6 . . . , 2a Tax on investment income for 2004 from Part VI, line 5 ,

. .

.

.

.

.

b Income tax for 2004, (This does not include the tax from Part VI ) .. .. c Add lines 2a and 2b . . . . . . . . . . . 3 Distributable amount before adjustments . Subtract line 2c from line 1 . 4 Recoveries of amounts treated as qualifying distributions . . . . . 5 Add lines 3 and 4 . . , . . , . . . . . . . . . . . 6 Deduction from distributable amount (see page 23 of the instructions) . 7 Distributable amount as adjusted . Subtract line 6 from line 5 . Enter line 1

2a , . . . . . . . . here

, . . .

.

,

,

. ,

. .

78038.00

.

, ,

, .

. . . , and on Part XIII,

1

25584563 .00

~R 2c 3 4 5 6

25506525.00 NONE 25506525 .00 NONE

7

25506525 .00

1a 1b

33753585 .00 NONE

2 . . ,.,

NONE

3a 3b 4

NONE NONE 33753585 .00

5 6

78038 .00 33675547 .00

78038.00

[= Qualifying Distributions (see page 23 of the instructions)

1

a b

2

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes :

Expenses, contributions, gifts, 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 .,

3

purposes

a b

4 5 6

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

`

Amounts set aside for specific charitable projects that satisfy the : Suitability test (prior IRS approval required) . . . . . . . . . . . . . , , Cash distribution test (attach the required schedule) . Qualifying distributions . Add lines 1a through 3b Enter here andonPart . . V, line 8, and Part All, line 4 Organizations that qualify under section 4940(e) for the reduced rate of tax on net investment income . Enter 1 % of Part I, line 27b (see page 24 of the instructions) . . . . . . , , , Adjusted qualifying distributions . Subtract line 5 from line 4 . . . , . . . . , , Note : The amount on line 6 will be used in Part V, column (b), m subsequent years when calculating qualifies for the section 4940(e) reduction of tax in those years.

whether the foundation

Form 990-PF (2004)

r

Form 990-PF (2004)

Page a

Undistributed Income (see page 24 of the instructions) 1

lbl

(a)

Corpus

Distnbutable amount for 2004 from Part XI, line 7 . . .

Years orior to 2003

NONE

Total for prior years 20_20_20 Excess distributions carryover, if any, to 2004 : NONE , From 1999 . . . . , NONE From 2000 , . . , , NONE , , From 2001 . NONE , , From 2002 . . , NONE From 2003 . . . , ,

b a b c d e f

Total of lines 3a through e . . . . . , qualifying distributions for 2004 from Part 4 33753585 .00 X11, line 4 : 10- $ a Applied to 2003, but not more than line 2a b Applied to undistributed income of prior years (Election required-see page 24 of the instructions) c Treated as distributions out of corpus (Election required-see page 24 of the instructions) d Applied to 2004 distributable amount .

., ,N

NONE NONE 1` .

y

NONE " NONE

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 .

NONE

e

Undistributed income for 2003 . Subtract line 4a from line 2a Taxable amount-see page 25 of the instructions

f Undistributed income for 2004 . Subtract lines 4d and 5 from line 1 This amount must be distributed in 2005 .

.

.

.

applied on line 5 or line 7 (see page 25 of

the instructions) .

.

.

,

,

,

,

,

Excess distributions carryover to 2005 . Subtract lines 7 and 8 from line 6a . , Analysis of line 9'

a Excess from 2000 b Excess from 2001 .

.

,

d Excess from 2003. e Excess from 2004.

. .

. .

c

Excess from 2002

w«

NONE

~`~=~ '

~~~

..

:f~~~

;

s ~

;~hsf 8426115 .00

.

25 of the instructions) . . . , , , , Excess distributions carryover from 1999 not

9 10

.

Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(E) or 4942(g)(3) (see page

8

NONE

line 4b from line 2b .

Subtract line 6c from line 6b . Taxable amount-see page 25 of the instructions ,

7

17080410 .00

NONE

a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 b Prior years' undistributed income Subtract

d

16673175 .00

16673175 .00

Enter the net total of each column as indicated below :

c

(d)

2004

Yr .

Excess distributions carryover applied to 2004 (!f an amount appears m column (d), the same amount must be shown in column (a) )

6

I

NONE .

e Remaining amount distributed out of corpus

5

M

2003

25506525.00

2 Undistributed income, if any, as of the end of 2003 : a Enter amount for 2003 only 3

I

NONE 4; NONE "' NONE

NONE NONE .,.. . . ; , . , ..q NONE `~y ,c ' :; ~ , F NONE NONE .

?`

e:,~:

Form 990-PF (2004)

T

Forrtr990-PF(2004)

Private Ooeratina Foundations (see paae 25 of the instructions and Part VII-A, question 9)

Page 9

N/A

If the foundation has received a ruling or determination letter that it is a private operating foundation, and the ruling is effective for 2004, enter the date of the ruling . Check box to indicate whether the organization is a private operating foundation described in section [1 49420(3) or El 4942 Prior 3 ears Enter the lesser of the adjusted net Tax ear (e) Total income from Part I or the minimum (c) 2002 (d) 200 (a) 2004 (b) Zoos investment return from Part X for each year listed 85% of line 2a

is b 2a

b c

qualifying distributions from Part XII, line 4 for each year listed

d

Amounts included m 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 "Assets" alternative test-enter (1) Value of all assets . (2) Value of assets qualifying under section 49420)(3)(B)(i) "Endowment" alternative test-enter y~ of minimum investment return shown in Part X, line 6 for each year listed "Support" alternative test-enter

a

b c

(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 a9420)(3)(B)(m) (3) Largest amount of support from an exempt organization (4) Gross investment income

1

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 .)

a

Information Regarding Foundation Managers : 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) .)

Jeffry M . Picower b N/A 2

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 Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc ., Programs : Check here " 0 if the organization only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds . If the organization makes gifts, grants, etc . (see page 26 of the 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 :

N/A b

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

N/A c

Any submission deadlines .

N/A d

N/A

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

Form 990-PF (2004)

Form "990-PF (2004)

"

Supplementary Information (continued)

Page 10

Form 990-PF (2ooa)

T

Form 590-PF (2004)

Page ~ 1

" ~ Analysis of Income-Producin g Activities Unrelated business income Enter gross amounts unless otherwise indicated .

1 Program service revenue. a b c d e f g Fees and contracts from government agencies 2 Membership dues and assessments .

(a) Business code

Excluded by section 512, 513, or 514

(b) Amount

(c) Exclusion code

3 Interest on savings and temporary cash investments 4 Dividends and interest from securities . 5 Net rental income or (loss) from real estate' a Debt-financed property 6 7 8 9 10 11

(e) Related or exempt function income (hee page 26 of

(d) Amount

.) t e instructions

14 14

26012 .00 4799721 .00

18

2978030 .00

~V~~~~ . . . .

7803763 .00

b Not debt-financed property .

Net rental income or (loss) from personal property Other investment income . Gain or (loss) from sales of assets other than inventory Net income or (loss) from special events . Gross profit or (loss) from sales of inventory Other revenue' a b c d e 12 Subtotal . Add columns (b), (d), and (e) . . . ~"a 13 Total. Add line 12, columns (b), (d), and (e) . . . . . . . . . (See worksheet in line 13 instructions on page 26 to verify calculations .)

.

.

.

13

7803763 .00

Relationship of Activities to the Accom plishment 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 the organization's exempt purposes (other than by providing funds for such purposes) (See page 27 of the instructions)

N/A

Form 990-PF (2004)

Form 990-PF (2004)

Page 12

Information Regarding Transfers To and Transactions and Relationships With Noncharitab(e

1

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

Yes No

a Transfers from the reporting organization to a noncharitable exempt organization ofMEN 1a(1) J (i) Cash . . . . . . . . . . . . . . . . . . . . . . . . la (2) r . . . (2) Other assets . . . . . , , . . . . . . . , . . . b Other transactions : Mmin 1b 1 J (1) Sales of assets to a noncharitable exempt organization, . . , . . . , . . . , . , lb 2 r . . . . . . . . (2) Purchases of assets from a noncharitable exempt organization . . . 1b(3) r (3) Rental of facilities, equipment, or other assets . . . . . . , . . . , . . , , , , ib(4) r . . . . . . . , (4) Reimbursement arrangements . . . . . . . . . . ib 5 J (5) Loans or loan guarantees . . . . . . . . . . . , , . , , , , , 1b(6) r (6) Performance of services or membership or fundraising solicitations . . . , . . . . , J . 1c c Sharing of facilities, equipment, mailing lists, other assets, or paid employees . . . . . 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, 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 services received .

2a Is the organization 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? . b If "Yes," complete the following schedule .

0 Yes

0 No

t

THE PICOWER FOUNDATION 12-31-04

FORM 990-PF,

PART I

#13-6927043

- LEGAL FEES REVENUE AND EXPENSES

DESCRIPTION

PER BOOKS

Hodgson Russ LLP One M&T Plaza, Suite 2000

NET INVESTMENT INCOME

ADJUSTED NET INCOME

CHARITABLE PURPOSES

83,111 .55

83, 111 .55

180,115 .76

180,115 .76

167,548 .46

167, 548 .46

Sutherland Asbill & Brennan LLP 999 Peachtree Street, NE Atlanta, GA 30309-3996 61,129 .95

61, 129 .95

Buffalo,

Morgan,

NY

14203-2391

Lewis & Bockius LLP

111 Pennsylvania Avenue, Washington, DC 20004

Hogan & Hartson LLP 555 Thirteenth Street NW Washington, DC 20004-1109

NW

Kit A . Kamholz 1279 Kajer Lane

Lake Forest,

IL 60045

3,025 .00

TOTALS

494,930 .72

3,025 .00

NONE

NONE

494,930 .72

THE PICOWER FOUNDATION 12-31-04

FORM 990-PF,

PART

#13-6927043

I - ACCOUNTING FEES

REVENUE AND

EXPENSES PER BOOKS

DESCRIPTION KPMG,

NET

INVESTMENT INCOME

ADJUSTED

NET INCOME

CHARITABLE PURPOSES

LLP

345 Park Avenue New York, NY 10154 WithumSmith+Brown 120 Albany Street New Brunswick, NJ 08901 TOTALS

15,500 .00

15, 500-00

2,450 .00

2,450 .00

17,950 .00

NONE

NONE

17,950 .00

1

t

#13-6927043

THE PICOWER FOUNDATION 12-31-04

FORM 990-PF,

PART I

- OTHER PROFESSIONAL FEES REVENUE AND

EXPENSES PER BOOKS

DESCRIPTION

NET

INVESTMENT INCOME

ADJUSTED

NET INCOME

CHARITABLE PURPOSES

CONSULTING FEES Michael S . Levine 133 Michaels Court Jupiter, FL 33458

TOTALS

46,758 .13

46,758 .13

46,758 .13

NONE

NONE

46,758 .13

THE PICOWER FOUNDATION 12-31-04

FORM 990-PF,

PART

#13-6927043

I - TAXES

REVENUE AND EXPENSES

DESCRIPTION

PER BOOKS

EXCISE TAXES FICA SUI

NET INVESTMENT INCOME

ADJUSTED NET INCOME

90,000 .00 33,394 .25 2,504 .68

TOTALS

125,898 .93

CHARITABLE PURPOSES

NONE 33,394 .25 2,504 .68

NONE

NONE

35,898 .93

i #13-6927043

THE PICOWER FOUNDATION 12-31-04 FORM 990-PF,

PART I

- OTHER EXPENSES REVENUE AND EXPENSES PER BOOKS

DESCRIPTION

ADJUSTED NET INCOME

CHARITABLE PURPOSES

1 .00

1 .00

COMPUTER EXPENSE

34,290 .50

34,290 .50

PAYROLL SERVICES

2,459 .70

2,459 .70

DUES & SUBSCRIPTIONS

2,501 .50

2,501 .50

ENTERTAINMENT EXPENSE

2,973 .94

2,973 .94

38,254 .12

38,254 .12

3,726 .55

3,726 .55

19,113 .49

19,213 .49

1,458 .92

1,458 .92

MISCELLANEOUS EXPENSE

78 .31

78 .31

DELIVERY EXPENSES

48 .00

48 .00

16,373 .29

16,373 .29

2,526 .69

2,526 .69

PROCESSING FEE

289 .60

289 .60

POSTAGE

215 .41

215 .41

REGISTRATION & FEES

2,025 .00

2,025 .00

TELEPHONE

8,918 .55

8,918 .55

HANK CHARGES I

NET INVESTMENT INCOME

INSURANCE LC FEES/SOLOW BLDG MAINTENANCE & REPAIR MESSENGER EXPENSE

OFFICE EXPENSE OFFICE SUPPLIES

TOTALS

135,254 .57

NONE

NONE

135,254 .57

PORTFOLIO APPRAISAL THE PICOWER FOUNDATION December 31, 2004

Date

Quantity

COMMON STOCK 12-15-94 12,500 12-04-91 04-04-94 12-16 .94 11-28-01 12 .03-90 11-28-01

35,600 88,000 49,565 170,436 79,200 14,500

11-28-01 11 .28-01

580,000 543,000

04 .08-94 11-28-01

57,500 12,853

11-28-01

43,215

12-09-91 '12-31-04

15,600 3,851

12-13-91

12,000

12-04-91

31,200

11-28-01 11-28-01

282,000 372,000

05-06-04 12-09-91 05-03-04

160,000 68,400 174,000

12-03-01 12-13-94 04.12-95

416,900 222,750 448,000

11-29-01

380,000

Security ALCATEL ALSTHOM ADS AMGEN INC BELLSOUTH CORP BIOGEN IpEC INC CARMAX INC CATERPILLAR INC CAVCOINDUSTRIES INC CENTEX CORP CIRCUIT CITY STORESINC CONOCOPHILLIPS EAGLE MATERIALS INC EAGLE MATERIALS INC CLASS B FANNIE MAE FIDELITY SPARTAN US TREASURY MONEY MARKET GENERAL ELECTRIC CO . JOHNSON & JOHNSON KB HOME NETWORK APPLIANCE INC PALMONE INC PFIZER INC . RESEARCH IN MOTION LTD SIEBEL SYSTEMS INC STAPLES INC TEXAS INSTRUMENTS INC TOLL BROTHERS INC

Unit Cost

Total Cost

09-23-04 169,325,000 OS-31-04

150,000

09-30-04

169,825,000

11 .30-04

175,000

US TREASURY BILL DUE 01/13/2005 1 760% Due 01-13-05 US TREASURY BILL DUE 01/20/2005 1 .780% Due 01-20-05 US TREASURY BILL DUE 02/03/2005 1 730% Due 02-03-05 US TREASURY BILL DUE 03/03/2005 1 .950% Due 03-03-05 US TREASURY BILL DUE 03/24/2005 2 140% Due 03-24-05

Pct. Assets

Unrealized Cain/Loss

Annual Income

Cur. Yield

3313

414,110 .43

15 .63

195,375 .00

00

-218,73543

4,25000

22

654 1369 716 1797 19 .36 1043

232,862 50 1,204,500 .00 354,840 62 3,062,345 37 1,533,525 00 151,174 80

6415 2779 6661 31 05 9751 4495

2,283,740 .00 2,445,520 00 3,301,524 65 5,292,037 80 7,722,792 00 651,775 00

04 05 06 1 .0 1 5 01

2,050,877 50 1,241,020 00 2,946,684 .03 2,229,692 .43 6,189,267 00 500,600 20

000 66,880 00 000 000 107,712 00 000

0.0 27 ? 00 14 00

1845 11 36

10,698,867 .83 6,169,939 41

5958 1564

34,556,400 00 8,492,520 00

65 1 6

23,857,532 17 2,322,580 59

92,800 00 38,010 00

03 04

2577 2065

1,481,937 50 265,361 20

8683 8635

4,992,725 .00 1,109,856 55

09 02

3,510,787 50 844,495 35

20,700 00 000

04

2042

882,578 27

8430

3,643,024 50

07

2,760,446 23

000

1378 1 00

214,987 .50 3,851 00

71 21 1 00

1,110,876 00 3,851 00

02 00

895,888 .50 000

18,720 .00 000

1 7 00

519

62,250 00

3650

438,000 00

01

375,750 00

9,60000

22

11 59

361,725 00

6342

1,978,704 00

04

1,616,979 00

39,936 00

20

32 .22 1482

9,084,940 00 5,514,740 00

10440 3322

29,440,800 00 12,357,840 .00

56 23

20,355,860,00 6,843,100 00

84,600 00 000

03 0 .0

16 .56 5 .53 4400

2,649,250 .00 378,150.00 7,655,530.00

31 55 2689 8242

5,048,000 .00 1,839,276 00 14,341,080 .00

10 03 27

2,398,750 00 1,461,126 00 8,685,550 00

000 46,512 00 000

25

21 54 409 544

8,978,270 00 910,250 00 2,436,000 00

1050 3371 2462

4,377,450 .00 7,508,902 .50 11,029,760 00

08 14 21

-4,600,820 00 6,598,652 50 8,593,760 00

0 .00 000 38,080 00

00 00 0 .3

6,391,780 00

6861

49

19,680,020 00

0 .00 567,800 .00

00 0 .3

1682

71,093,766 43 TREASURY BILLS 10-21-04 200,000

Market Value

Price

99 .59

26,071,800 .00 190,233,630 .00

35 .9119,139,863 57

199,178 00

9994

199,890 .00

00

71200

3,52000

18

99 42 168,346,301 .50

99 91

169,169,221 00

320

822,919.50

3,013,985 00

1 8

9927

9984

149,758 50

00

85650

2,595 .00

1 7

99 18 168,437,529 75

99 65 169,239,103 75

320

801,574 00

3,311,587 .50

20

9930

9951

00

36050

3,745 .00

22

148,902 00

173,780 .25

l

174,140 .75

PORTFOLIO APPRAISAL

THE PICOWER FOUNDATION December 31, 2004

Date 12-31-04

Quantity 100,000

Security US TREASURY BILL DUE 03131/2005 2 200% Due 03-31-05

CASH AND EQUIVALENTS

U S DOLLAR

TOTAL PORTFOLIO

Unit Cost

Total Cost

9945

Market Value

Price

99,453 00

9945

Pct. Assets

Unrealized Gain/Loss

Annual Income

Cur. Yield

99,454 00

00

100

2,200 00

22

337,405,144 .50

339,031,568 .00

64 1

1,626,423 50

6,337,632 .50

1 .9

018 0.18

0 18 0.18

00 0.0

000 0.00

00 00

408,498,911 .11

529,265,198.18

100.Q20,766,287 .07 6,905,432.50

1.3

2

PORTFOLIO APPRAISAL THE PICOWER FOUNDATION December 31, 2004

Date

Quantity

COMMON STOCK 12-26-00 60,003

Security AMERICAN INTL GROUPING

CASH AND EQUIVALENTS U S DOLLAR

TOTAL PORTFOLIO

Unit Cost 241

Total Cost 144,849 35

Price

Pct . Assets

Unrealized Gain/Loss

Annual Income

Cur . Yield

3,940,397 01

81 9

3,795,547 66

18,000 90

05

144,849 .35

3,940,397 .01

81 .9

3,795,547 .66

18,000 90

05

869,556 48 869,556 .48

869,556 48 869,556 48

181 18 1

000 0.00

00 0.0

18,000 .90

0.4

1,014,405.83

65 .67

Market Value

4,809,953.49 100.0

3,795,547.66

REALIZED GAINS AND LOSSES THE PICOWER FOUNDATION Front 01-01-04 Through 12-31-04

Open Date

Close Date

11-28-O1 11-28-O1

02-OS-04 02-OS-04

12-31-03

02-19-04

01-30-04

02-19-04

11-28-01

04-28-04

I1-28-01

04-28-04

11-28-01

04-28-04

1 1-28-01

04-28-04

11-28-01

04-29-04

11-29-O1

04-29-04

11-29-01

04-30-04

11-29-01

04-30-04

I1-29-01

OS-03-04

02-27-04

OS-03-04

03-31-04

OS-03-04

04-30-04

OS-03-04

04-05-95

07-01-04

04-06-95

07-01-04

04-07-95

07-01-04

12-03-01 OS-28-04

07-01-04 07-07-04

Quantity

Gain Or Loss

Cost Basis

Security

0 EAGLE MATERIALS INC 1 EAGLE MATERIALS INC CLASS B 5,461 FIDELITY SPARTAN US TREASURY MONEY MARKET 23,502 FIDELITY SPARTAN US TREASURY MONEY MARKET 35,000 KRISPY KREME DOUGHNUTS INC 15,000 KRISPY KREME DOUGHNUTS INC 30,000 KRISPY KREME DOUGHNUTS INC 30,000 KRISPY KREME DOUGHNUTS INC 40,000 KRISPY KREME DOUGHNUTS INC 45,000 KRiSPY KREME DOUGHNUTS INC 30,000 KRISPY KREME DOUGHNUTS INC 60,000 KRISPY KREME DOUGHNUTS INC 20,000 KRISPY KREME DOUGHNUTS INC 6 FIDELITY SPARTAN US TREASURY MONEY MARKET 48,280 FIDELITY SPARTAN US TREASURY MONEY MARKET 51,923 FIDELITY SPARTAN US TREASURY MONEY MARKET 100,000 NATIONAL SEMICONDUCTOR CORP 100,000 NATIONAL SEMICONDUCTOR CORP 100,000 NATIONAL SEMICONDUCTOR CORP 3,100 SIEBEL SYSTEMS INC 8,930 FIDELITY SPARTAN US TREASURY MONEY MARKET

1

Proceeds

Short Term

Long Term

769 1021

2025 2682

1256 1661

5,461 00

5,461 00

000

23,502 00

23,502 00

000

1,279,250 00

1,214,500 00

-64,75000

548,250 00

519,450 00

-28,80000

1,095,600 00

1,038,900 00

-56,700 00

1,095,600 00

1,037,100 00

-58,50000

1,460, 800 00

1,360,000 00

-100,80000

1,612,350 00

1,530,000 00

-82,35000

1,074,900 00

995,10000

-79,80000

2,147,400 00

1,990,200 00

-157,20000

715,800 00

648,400 00

-67,40000

600

600

000

48,280 00

48,280 00

000

51,923 00

51,923 00

000

881,250 .00

2,111,000 00

1,229,750 00

868,750 00

2,100,000 00

1,231,250 00

856,250 00

2,103,000 00

1,246,750 00

66,030 00 8,93000

32,581 00 8,93000

000

-33,44900

REALIZED GAINS AND LOSSES THE PICOWER FOUNDATION From 01-01-04 Through 12-31-04

Open Dale

Close Date

06-30-04

07-07-04

07-30-04

09-09-04

08-31-04

09-09-04

09-30-04

12-21-04

10-29-04

12-21-04

11-30-04

12-21-04

Quantify

Cost Basis

Security

45,245 FIDELITY SPARTAN US TREASURY MONEY MARKET 52,460 FIDELITY SPARTAN US TREASURY MONEY MARKET 18,662 FIDELITY SPARTAN US TREASURY MONEY MARKET 5,546 FIDELITY SPARTAN US TREASURY MONEY MARKET 22,724 FIDELITY SPARTAN US TREASURY MONEY MARKET 21,466 FIDELITY SPARTAN US TREASURY MONEY

Gain Or Loss Proceeds

Short Term

45,245 00

45,245 00

000

52,46000

52,460 00

000

18,662 00

18,662 00

000

5,54600

5,54600

000

22,724 00

22,724 00

000

21,466 00

21,466 00

000

Long Term

MARKET

TOTAL GAINS TOTAL LOSSES

TOTAL REALIZED GAIN/LOSS

14,006,452.90 2,978,030 17

2

16,984,483.07

0 00 000

0 .00

3,707,779 17 -729,74900

2,978,030 .17

#13-6927043

THE PICOWER FOUNDATION 12-31-04

FORM 990-PF

PART VIII

-

LIST OF OFFICERS

Name & Address

DIRECTORS AND TRUSTEES

Title and Time

Devoted to Position

Jeffry M . Picower c/o The Picower Foundation

Trustee 25 Hrs/Wk

NONE

NONE

NONE

Barbara Picower c/o The Picower Foundation

Trustee/ Executive Director 50 Hrs/Wk

23,042 .

2,920 .

-0-

Norman B . Leventhal c/o The Picower Foundation

Trustee .75 Hrs/Wk

NONE

NONE

NONE

William D . Zabel c/o The Picower Foundation

Trustee .75 Hrs/Wk

NONE

NONE

NONE

Gerald C . McNamara 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

2,920 .

NONE

GRAND TOTALS

23,042 .

NAME AND ADDRESS Mr Robert McFalls Chief Executive Officer

THE PICOWER FOUNDATION EIN :13-6927043 INDIVIDUAL 501 ( C )( 3)

PURPOSE

AMOUNT

Area Agency on Aging of Palm Beach Count 1764 North Congress Avenue, Suite 201 West Palm Beach, FL 33409 Mr. Earl Martin Phalen CEO B .E .L .L . Foundation 60 Clayton Street Dorchester, MA 02122 Ms . Mary O' Connor Executive Director

N

501(C)(3) Active Aging Evaluation

25,000

1

N

General Operating support of 501(C)(3) 8 E .L L's NY programs and capacity building efforts

50,000

2

Boys and Girls Clubs of PBC 800 Northpoint Parkway, Suite 204 West Palm Beach, FL 33409 Ms, Linda Rosenbluth Executive Director

N

501(C)(3) Gators Galore

10,000

3

Forward Face 317 East 34th Street, Suite 901 A New York, NY 10016 Ms . Jenny Morgenthau Executive Director Fresh Air Fund 633 Third Avenue, 14th Floor NY, NY 70017 Ms Joyce Roche Executive Director Girls Inc . 120 Wall Street NY, NY 10005 Ms . Emily Rafferty Senior Vice President for External Affairs Metropolitan Museum of Art 1000 Fifth Avenue NY, NY 10028 Mr. Ronay Menschel President/CEO Phipps Community Development 43 West 23rd Street NY, NY 10010 Ms . Ruth Laude Shuman President Publicolor 114 East 32nd St ., Suite 900 NY, NY 10016 Andrea Hanan Music Teacher Royal Palm School 6050 Lawrence Road Lantana, FL 33462

N

501(C)(3) Forward Face

20,000

4

N

Camp Hidden Valley & Career Awareness Programs @ Camp 501(C)(3) Manah

60,000

5

N

Year One of Understanding Girls Incorporated After-School 501(C)(3) Programs study

224,000

6

N

501(C)(3)

50,000

7

N

Summer Day Camp and Daly Avenue Early Childhood Center 501(C)(3) Head Start

114,000

8

N

COLOR Club and Next Steps 501(C)(3) programs

50,000

9

N

"100 years of Broadway" 501(C)(3) fundraising concert

500

10

603,500

1

General Operating Support

NAME AND ADDRESS Shelly Tilton Hall Regional Development Director United States Olympic Committee 1 Olympic Plaza Colorado Springs, CO 80909

THE PICOWER FOUNDATION EIN 13-6927043 INDIVIDUAL 501(C)(3)

N

PU RPOS E

501(C)(3) Athlete's training program

AMOUNT

100,000

1

2

3

4

5

6

7

8

9

10 100,000

1 1

NAME AND ADDRESS Ms Ruth Messinger Pwsident

THE PICOWER FOUNDATION EIN- 13-6927043 77NDIVIDUAL 501(C)(3)

American Jewish World Service 45 West 36th Street New York, NY 100 1 8 Ms . Ruth Messinger President American Jewish World Service 45 West 36th Street New York, NY 100 18 Mr. Myles Gordon Vice President of Education

PURPOSE

AMOUNT

Eleenosynary group N

501 (C)(3) & Evaluation for AJWS & AVODAH

N

International Jewish 501 (C)(3) College Corps

American Museum of Natural History Central Park West at 79th Street New York, NY 10024 Mr . Robert McFalls Executive Director

N

501 (C)(3) Inside View Programs

Area Agency on Aging 1764 Congress Street, Suite 201 West Palm Beach, FI 33409 Ms . Wendy Wendlant Political Director Center for Public Interest Research 3435 Wilshire Blvd, Suite 385 Los Angeles, CA 90010 Ms . Regina Peruggi President Central Park Conservancy 14 East 60th St New York, NY 10022 Ms . Tana Ebbole Executive Director Children's Services Council 1919 North Flagler Drive West Palm Beach, FL 33407 Ms . Tana Ebbole Executive Director Children's Behavioral Health Initiative 1919 North Flagler Drive West Palm Beach, FIL 33407 Mr . David Rivel Executive Director City Parks Foundation The Arsenal, Central Park, 830 Fifth Avenue New York, NY 10021 Mr . Elisabeth Stock Executive Director Computers For Youth 505 Eighth Avenue, Suite 2402 New York, NY 100 18

N

$17,000

$50,000

2

$115,000

3

501 (C)(3) for Active Aging

$100,000

4

N

General Operating 501 (C)(3) Suppor't & New Voter's Project

$200,000

5

N

General Operating 501 (C)(3) Support & Programs in Education Department

$105,000

6

N

501 (C)(3) Beacon Schools

$200,000

7

N

501(C)(3) Primary Project/ Early Intervention

$195,185

8

N

501 (C)(3) City Park Concerts

$145,000

9

N

501(C)(3) General Operating Support

$67,000

10

Career Exploration and

Leadership Institute

1

$1,194,185

1

2

NAME AND ADDRESS Ms. Claudia Kirk Barto Executive Director Cystic Fibrosis- Florida Chapter 2200 North Florida Mango Road Suite 304 West Palm Beach, FL 33409 Ms Jaqueline Pine Co-Executive Director Early Stages 330 West 42nd Street New York, NY 10036 Ms. Bonnie Meltzer Director of Development and Public Affairs Facing History and Ourselves 16 Hurd Road Brookline, MA 02445 Ms Kathy Foster President Junior Achievement 5601 Corporate Way, Suite 400 West Palm Beach, FIL 33407 Mr. Charles Vest President Massachusetts Institute of Technology 77 Massachusetts Avenue Cambridge, MA 02139 Scott Badesch Execuitve Director and CPO United Way of Palm Beach County 2600 Quantum Blvd . Boynton Beach, FL 33426 Mr. Aileen Hefferren Executive Director Prep for Prep 328 West 71 st Street New York, NY 10023 Mr. Diane Baillargeon Executive Director Seedco 915 Broadway, Suite 1703 New York, NY 100 10 Mr. Morris Dees Primary Contact Southern Poverty Law Center 400 Washington Avenue Montgomery, AL 36104 Ms . Wendy Kopp President Teach for America 315 West 36th St , 6th Floor New York, NY 10 185

THE PICOWER FOUNDATION EIN- 13-6927043 INDIVIDUAL 501(C)(3)

PURPOSE

AMOUNT

N

501(C)(3) Great Strides

N

501(C)(3) School Based Programs

$20,000

2

N

Challenge Grant 501 (C)(3) for the re-design of its website

$50,000

3

N

501 (C)(3) Exchange City

$50,000

4

N

Norman B Leventhal 501 (C)(3) Presidential Graduate Fellows

$199,440

5

$45,401 07

6

$250,000

7

$75,000

8

$100,000

9

$200,000

10

$994,841 07

2 .1

N

Picower Quality 501 (C)(3) Childcare Initiative

N

General Operating ; Alumni Professional 501 (C)(3) Unit,Picower Undergraduate Internships Comprehensive Childcare Initiative 501 (C)(3) for the Earn Fair Alliance

N

501(C)(3) Tolerance org

N

For pre-service 501 (C)(3) training and development programs

N

$5,000

NAME AND ADDRESS Mr . Allan Kirschner Director of Development

THE PICOWER FOUNDATION EIN: 13-6927043 INDIVIDUAL 501 (C)(3)

PURPOSE

AMOUNT -- -

Palm Beach County

United Negro College Fund 10444 Fairfax, VA 22031-4511 Ms . Jennifer Lynch Director of Development VH-1 Save the Music Foundation 1515 Broadway New York, NY 10036 Mr. David Leland National Director

N

501 (C)(3) Scholarships

$56,000

N

501(C)(3) Music Education in one PBC School

$25,000

2

Voting for America, Inc . 6805 Oak Creek Drive Columbus, OH 43229

N

501 (C)(3) Support for Project Vote

$200,000

3

General Operating

4

5

6

7

8

9

10

$281,000

22

NAME AND ADDRESS Ms Rachel Moore Executive Director American Ballet Theatre The Peter T Joseph Studios 890 Broadway New York, NY 10003-1278 Ms Amy Jaffe Barzach Executive Director Boundless Playgrounds 45 Wilton Avenue Bloomfield, CT 06002 Ms . Mary O'Connor Executive Director Boys and Girls Clubs of Palm Beach 800 Northpoint Parkway, Suite 204

THE PICOWER FOUNDATION EIN* 13-6927043 INDIVIDUAL 501 (C)(3)

N

PURPOSE

AMOUNT

25,000

501 (C)(3) Education Programs

Outreach & Education Program and Maintenance N

N

West Palm Beach, FIL 33407-1946 Ms Santa Gupta Executive Director

501 (C)(3) Costs of the new website

Teen Club After School 501 (C)(3) Program, Before School Program and the Computer Technology Program

Emergency Response Fund

100,000

2

212,111,05

1

CARE 650 First Avenue New York, NY 10016 Ms . Nancy Northup President

N

501 (C)(3)

75,000

Center for Reproductive Rights 120 Wall Street New York, NY 10005 Mr . Philip Cotloff Executive Director Children's Aid Society 105 East 22nd Street New York, NY 10010 Mr. Will Weiss Vice President of Development City Center 130 West 56thy Street New York, NY 100 19 Mr . William Akin President Concerned Citizens of Montauk, Inc P 0 . Box 915 Montauk, NY 11954 Mr . Thomas Dougherty Executive Director Doctors of the World 375 West Broadway, 4th Floor New York, NY 100 1 2 Ms . Betsi Kassebaum Executive Director Education Commission of Plarn Beach County 2324 South Congress West Palm Beach, FL 33406

N

501(C)(3) Domestic Programs

350,000

N

501(C)(3) Gol Kids

125,000

6

N

501(C)(3) General Operating Support

5,000

7

N

501(C)(3)

5,000

8

N

501(C)(3) Human Rights Clinics in NYC

50,000

9

N

501 (C)(3)

75,000

10

1,022,511 05

3

General Operating Support

Career Development in Child Development 1

NAMEANDADDRESS Ms. Sara Engelhardt President Foundation Center 79 Fifth Avenue New York, NY 10003 Dr Diane Meier Director, Palliative Care Institute Mount Sinai School of Medicine One Gustave Levy Place, Box 1070 New York, NY 10029 Ms . Elizabeth Cavendish Interim President NARAL Pro-Choice America Fdtn 1156 15th Street, NW, Suite 700 Washington D.C . 20005 Mr . Alan Friedman Director New York Hall of Science 47-01 1 1 1th Street NY 11368 Mr . Ned Barnes President Palm Beach Civic Association

The Paramount Building 139 North County Road, Suite 33 Palm Beach, FL 33480 Ms . Judy Olian Dean Pennsylvania State University 116 Old Main University Park, PA 16802 Ms . Gloria Feldt President Planned Parenthood Federation oi America 434 West 33rd Street New York, NY 1000 1 Ms . Leslie Marcus Managing Director Playwrights Horizon 630 Ninth Avenue, Suite 708 New York, NY 10036 Mr . Mario DellaPina Executive Director Queens College Foundation 141 Fifth Avenue NewYork,NY10010 Ms . Lucy Friedman President The After School Corporation 925 Ninth Avenue New York, NY 100 19

THE PICOWER FOUNDATION EIN 13-6927043 INDIVIDUAL 501 (C)(3)

PURPOSE

AMOUNT

N

501 (C)(3)

General Operating Support

5,000

1

N

501 (C)(3)

General Operating Support

5,000

N

501 (C)(3)

General Operating Support

400,000

3

N

501 (C)(3)

Programming and Evaluation on tramings methods for Explainers

120,000

4

N

501 (C)(3)

General Operating Support

100

5

N

501 (C)(3)

Picower Embark Program

250,000

6

N

501 (C)(3)

Mobilizing to Win Initiative

350,000

7

N

501 (C)(3)

General Operating Support

10,000

8

N

501 (C)(3)

General Operating Support

5,000

9

N

501 (C)(3)

Intramural Sports Programs

175,000

10

1,320,100

3 .1

NAME AND ADDRESS Ms Lilliam Barrios Pa i Senior Vice President United Way of New York City 2 Park Avenue New York, NY 10016 Mr. William Baker President WNET 450 West 33rd Street New York, NY 1000 1 Dr . J . Timothy Greenamyre Emory University Whitehead Biomedical Research Building 615 Michael Street Atlanta, GA 30322 Dr . Paul Greengard Vincent Astor Professor Rockefeller University 1230 York Avenue New York, NY 10021 Dr Virginia M Y Lee, Ph D, M B A Medicine University of Pennsylvania 3600 Spruce Street Philadelphia, PA 19104 Dr David Sulzer, Ph D Columbia University Medical Center 650 West 168th Street Black Building-3rd Floor Rm 306 New York, NY 10032 Dr D James Surmeier, Ph D Northwestern University Dept of Physiology, ward 5-315 Feinberg School of Medicine 303 East Chicago Avenue Chicago, IL 60611

THE PICOWER FOUNDATION EIN . 13-6927043 INDIVIDUAL 501(C)(3)

PURPOSE

AMOUNT

N

501(C)(3)

Quality New York

125,000

N

501 (C)(3)

Cyberchase & NTTI

800,000

N

501 (C)(3)

N

501 (C)(3)

N

501 (C)(3)

N

501 (C)(3)

N

501 (C)(3)

Pathogenic Mechanisms as therapeutic targets in Parkinson's Disease Research

1

750,000

3

680,000

4

721,696

5

VMAT2 expression as a therapy for Parkinson's Disease Research

270,000

6

Molecular & Cellular Mechanisms of Parkinson's Disease research

726,525

Research on DARPP-32 in striatal adaptation to and treatments of Parkinson's Disease Parkinson's Disease Drug Discovery Program

7

8

9

10

4,073,221

32

NAME AND ADDRESS Gretchen Buchenholz Executive Director Association to Benefit Children 419 East 86th Street New York, NY 10028 David Rosenn Executive Director

THE PICOWER FOUNDATION EIN 13-6927043 INDIVIDUAL

501(C)(3)

PURPOSE

AMOUNT

N

Youth 501 (C)(3) Services Program

AVODAH 443 Park Avenue South New York, NY 10016 Roxanne Spillett President Boys and Girls Clubs of America 1230 West Peachtree Street, NW Atlanta, GA 30309-3447 Evelyn Lauder President

N

501(C)(3) Jewish Services Corp

$100,000

N

501(C)(3) Project Upward Bound

$500,000

Breast Cancer Research Foundation 654 Madison Avenue, Suite 1209 New York, NY 10021 Phil Coltoff President

N

501(C)(3) The Knockout Lunch

$2,500

Children's Aid Society-Carerra 105 East 22nd Street New York, NY 10010 Dr Irwin Redlener President Children's Health Fund 105 East 22nd Street New York, NY 10010 Tana Ebbole Executive Director Children's Services Council 1919 North Flagler Drive West Palm Beach, FIL 33407 Tana Ebbole Executive Director Children's Services Council 1919 North Flagler Drive West Palm Beach, FL. 33407 Julia Erickson Executive Director City Harvest 575 8th Avenue, 4th Floor New York, NY 10018 Brother Brian Carty Executive Director De La Salle Academy 202 West 97th Street New York, NY10025

N

501(C)(3) Children's Aid Society

$50,000

N

501(C)(3) HCZ Children's Health Project

$300,000

N

501(C)(3) Beacon Middle Schools

$166,667

N

501(C)(3) Leadership Institute

$25,000

8

N

501(C)(3) Children's Initiative

$165,000

9

N

501(C)(3) Scholarship Support

$50,000

10

1,409,167

4

$50,000

1

3

6

7

NAME AND ADDRESS-----Joi Gordon Executive Director Dress for Success 32 East 31st Street, 7th Floor New York, NY 10016 George McDonald President

Doe Fund 232 East 84th Street New York, NY 10028 Patricia Dahl Executive Director & CEO Eye Bank for Sight Restoration 120 Wall Street New York, NY 10005 The Rev Dr Walter J Sr~ith -SJ President & CEO Healthcare Chaplaincy 307 East 60th Street New York, NY 10022 Maryanne Bohatyritz, R T Director H 0 P E Project 621 Clearwater Park Road West Palm Beach, FL 33401 Judith Nee Executive Director Kids in New Directions 499 East Palmetto Park Road Boca Raton, FL 33432 Digna Sanchez Executive Director Learning Leaders 352 Park Avenue South NewYork,NY10010 Joseph Dirr Co-Director Mercy Center 377 East 145th Street Bronx, NY 10454 Robert Hughes Executive Director New Visions for Public Schools 320 West 13th Street, 6th Floor New York, NY 10014 Mr John Thompson Chairman Palm Beach Fellowship Christians & Jews 139 N County Road Suite 1 BA Palm BEach, FL 33480

INDIVIDUAL

501 (C)(3)

PURPOSE-

-AMOUNT_1 $50,000

1

501 (C)(3) Ready, Willing & Able

$100,000

2

N

501(C)(3) Ocular Research Tissue Program

$25,000

3

N

501 (C)(3) General Operating Support

$2,500

4

N

501(C)(3) General Operating Support

$10,000

5

N

501(C)(3) CHAMPS

$250,000

6

N

501(C)(3) General Operating Support

$85,000

N

501 (C)(3) Teen Young Moms & Dads Program

$2,500

8

N

501(C)(3) Principal Mentoring Program

$225,000

9

N

501(C)(3) General Operating Support

$5,000

10

755,000

41

N

501(C)(3) Salary Support for Corporate Contributions Coordinator------

N

7

NAME AND ADDRESS Mary Freeland Executive Director PRIME TIME PBC, Inc . 3111 South Dixie Highway, Suite 220 West Palm Beach, Fl- 33405

INDIVIDUAL

N

501 (C)(3)

PURPOSE

501 (C)(3) Year 1 of its Quality Afterschool Initiative

AMOUNT $432,425

1

2

3

4

6

7

8

10 432,425

42

NAME AND ADDRESS----Jerome Radwin Chief Executive Officer American Foundation for Aids Research 120 Wall Street, 13th Floor NewYork,NY10005 Jerry Katzke President

THE PICOWER FOUNDATION EIN 13-6927043 INDIVIDUAL 501(C)(3) PURPOSE_-AMOUNT N

501(C)(3)

General Operating Support

$1,000

Bonnie Youth Club 1221 Church Avenue Brooklyn, NY 11218 Karen Brooks Hopkins President Brooklyn Academy of Music 30 Lafayette Avenue Brooklyn, NY1 1217 Joan Wexler Dean & Professor

N

501 (C)(3)

General Operating Support

$5,000

N

501 (C)(3)

General Operating Support

$10,000

N

501 (C)(3)

General Operating Support

$5,000

Center for Arts Education 225 West 34th Street, Suite 11 12 New York, NY 10122 Michael F . Jacobson Executive Director Center for Science in the Public Interest 1875 Connecticut Avenue, Suite 300 Washington, D C. 20009 Karen Redlener

N

501 (C)(3)

School Partnership Program

$70,000

N

501 (C)(3)

General Operating Support

$1,000

Children's Health Fund-Asthma Initiative 317 East 64th Street New York, NY 10021 Karen Redlener

N

501 (C)(3)

Asthma Initiative

$750,000

Children's Health Fund-Reading Project 317 East 64th Street New York, NY 10021 Karen Redlener

N

501(C)(3)

Reading Project

$100,000

8

Children's Health Fund-Starting Right Initiative 317 East 64th Street New York, NY 10021 Marcia Stein Executive Director City meals-0 n-Wheels 355 Lexington Avenue, 3rd Floor New York, NY 10017

N

501(C)(3)

Starting Right

$250,000

9

N

501(C)(3)

Weekend, Passover & Second Meals

$125,000

10

1,317,000

5

Brooklyn Law School 250 Joralemon Street Brooklyn, NY 11201 Richard Kessler Executive Director

3

6

7

NAME AND ADDRESS Bob Martinez Executive Director Connecticut Audubon Society 2325 Burr Street Fairfield, CT 06430 Alan Menillo President

THE PICOWER FOUNDATION EIN- 13-6927043 INDIVIDUAL 501(C)(3) PURPOSE

AMOUNT

N

501(C)(3) General Operating Support

$1,000

Fairfield Fire Fighters Local 1426 P.O . Box 261 Fairfield, CT 06430 Christopher Lyddy

N

501(C)(3)

General Operating Support

$2,500

2

Fairfield Police Explorer Post 279 100 Reef Road Fairfield, CT 06430 Herbert Podell Attorney Family and Children's Association-Podell Haven 100 East Old Country Road Mineola, NY 11501 Ana Oliviera Executive Director

N

501 (C)(3)

General Operating Support

$2,500

3

N

501 (C)(3)

General Operating Support

$5,000

Gay Men's Health Crisis 119 West 24th Street New York, NY 10011 Michael Stotts

N

501 (C)(3)

General Operating Support

$5,000

5

George Street Playhouse 9 Livingston Avenue New Brunswick, NJ 08901 Geoffrey Canada President & CEO Harlem Children's Zone 1916 Park Avenue, Suite 212 New York, NY 10037

N

50 1 (C)(3)

General Operating Support

$7,500

6

N

501 (C)(3)

N

501(C)(3)

N

N

Yosef Abramowitz CEO & Publisher Jewish Family and Life 90 Oak Street, P.O . Box 9129 Newton, MA 02464 Michael Brown Executive Director Jewish Organizing Initiative 99 Chauncy Street, Suite 600 Boston, MA 021 11 Hattie Jutagir Director of Development Lincoln Center Theater 150 West 65th Street New York, NY 10023

Baby College Harlem Gems $1,000,000 TRUCE TRUCE Health & Fitness, Beacons Afterschool & HCZ Afterschool Programs SocialAction com

7

$150,000

8

501(C)(3) Social Justice Program

$50,000

9

501(C)(3)

$50,000

10

1,273,500

51

Open Stages

NAMEANDADDRESS Barry Grove Executive Producer Manhattan Theatre Club 311 West 43rd Street New York, NY 10032 Joanne Donovan Melmark Home 2600 Wayland Road Berwyn, PA 19312 Monika Dillon Director of Development Museum of Modern Art 11 West 53rd Street New York, NY 10019 Gloria Kao Director of Operations New York Hospital/Cornell Medical Ctr for Partners in Medicine 525 East 68th Street, Box 123 New York, NY 10021 Ralph Nappi Vice Chairman North Shore University Hospital 125 Community Drive Great Neck, NY 11021 Christina Orr-Cahall Executive Director Norton Museum of Art 1451 South Olive Avenue West Palm Beach, FL. 33401 Philip Whitacre Executive Director Palm Beach Community Chest 44 Cocoanut Row, Suite M201 Palm Beach, FL 33480 Darlene Kostrub Executive Director Palm Beach Literacy Coalition 551 SE 8th Street, Suite 505 Delray Beach, FL 33483 Lewis Fomon Vice President and Membership Chairman Preservation Foundation of Palm Beach 311 Peruvian Avenue Palm Beach, FL 33480 Priscilla Burton Prostate Cancer Foundation 1250 Fourth Street, Suite 360 Santa Monica, CA 90401

THE PICOWER FOUNDATION EIN 13-6927043 INDIVIDUAL 501(C)(3) P U RPOS E --- AMO.U NT -N

501(C)(3)

Core Program

$60,000

N

501(C)(3)

General Operating Support

$10,000

N

501,C)(3)

General Operating Support

$5,000

N

501 (C)(3)

General Operating Support

$1,000

N

501 (C)(3)

General Operating Support

$15,000

N

501 (C)(3)

PACE Program

$80,165

N

501 (C)(3)

Specific Agencies & General Operating Support

$50,000

N

501 (C)(3)

General Operating Support

$5,000

8

N

501 (C)(3)

General Operating Support

$500

9

N

501(C)(3)

General Operating Support

$10,000

10

236.665

52

3

6

7

NAMEANDADDRESS Paul Greengard Vincent Astor Professor The Rockefeller University 1230 York Avenue New York, NY 10021 Todd Haimes Artistic Director

THE PICOWER FOUNDATION EIN. 13-6927043 INDIVIDUAL 501(C)(3) PURPOSE

AMOUNT

N

501 (C)(3)

'Pearl Meister Greengard Prize Endowment

$25,000

Roundabout Theatre Company 231 West 39th Street, Suite 1200 New York, NY 100 18 Alison Adler Director-Department of Safe Schools School District of Palm Beach County 1790 NW Spanish River Blvd . Boca Raton, FL 33431 Anita Holmes Executive Director South Florida Chapter of the Susan G . Komen Breast Cancer Foundation P .O . Box 880 West Palm Beach, FL 33402 Thomas Cahill Executive Director

N

501 (C)(3)

Producing Partners

$50,000

N

501 (C)(3)

Single School Culture

N

501 (C)(3)

General Operating Support

The Studio in a School Association 41 0 West 59th Street New York, NY 100 19 Melinda Utal-Martinez Relations Survivors of the Shoah P.O . Box 3168 Los Angeles, CA 90078 Miles Lerman Chairman United States Holocaust Memorial Museum P.O . Box 90988 Washington, D .C 20090 Scott Badesch Executive Director/CPO United Way of Palm Beach County 2600 Quantum Boulevard Boynton Beach, FL 33426 Thomas Weisskopf Director University of Michigan East Quadrangle Ann Arbor, MI 48109

N

501 (C)(3)

Early Childhood Art Network

N

501 (C)(3)

N

$136,400

3

$5,000

4

$45,000

5

General Operating Support

$5,000

6

501 (C)(3)

General Operating Support

$10,000

N

501 (C)(3)

Emergency funding Hurricanes Frances &Jeanne

$50,000

8

N

501 (C)(3)

Residential College

$100

9

N

501 (C)(3)

7

10 326 .500

53

THE PICOWER FOUNDATION EIN 13-6927043 NAMEANDADDRESS ------------INDIVIDUAL Gary Dunning Executive Director N Big Apple Circus 505 Eighth Avenue New York, NY 10018 Arnold Lehman Director Brooklyn Museum of Art N 200 Eastern Parkway Brooklyn, NY 11238 Gaston Caperton President N College Board 1233 20th Street N W Suite 600 Washington, D C Michael Posner Executive Director Human Rights First N 333 Seventh Avenue New York, NY 1000 1 David Altchek

501(C)(3)

Institute for Sports Medicine 600 Madison Avenue New York, NY 10021 Judith Mitchell Chief Executive Officer Kravis Center for the Performing Arts 701 Okeechobee Blvd West Palm Beach, FL 33401 Dr . Susan Hockfield President Massachusetts Institute of Technology 77 Massachusetts Avenue Cambridge, MA 02139 Ernesto Loperena Executive Director New York Council on Adoptable Children 589 Eighth Avenue, 15th Floor New York, NY 10018 Paul LeClerc President New York Public Library Fifth Avenue and 42nd Street New York, NY 100 18 Michael Seltzer President NYRAG 505 Eighth Avenue, Suite 1805 New York, NY 100 18

PURPOSE --- -AMOUNT

501(C)(3) Clown Care Unit

$25,000

501 (C)(3) Arty Facts Educational Program

$15,000

2

501(C)(3) Professional Development for teachers in the School District of PBC

$170,450

3

501 (C)(3) Domestic Asylum P,o,,am

$225,000

4

N

501(C)(3) General Operating Support

$5,000

5

N

501 (C)(3) S'T'A'R' and Cohen Pavilion Building

$5DO,000

6

N

501(C)(3) Picower Institute for Learning and Memory

N

501(C)(3) Support services for adoptive and kinship families

N

501 (C)(3) Install PC Management System

N

To make the additional improvements to its technology infrastructure 501 (C)(3) necessary to serve as a principal partner partner in The Forum of Regional 'Associations of Grantmaker's Knowledge Mgt Project

$10,000,000

1

7

$10,000

8

$1,023,500

9

$5,000

10

11 .978 .950

6

NAME AND ADDRESS Pat Uris Acting President Nurse Family Partnership 1900 Grant Street, Suite 750 Denver, CO 80203 Arlene Lane PS 169 Dept . of Edu of the City of NY 110 East 88th Street New York, NY 10128 Lillian Tamayo Executive Director Planned Parenthood of PBC 2300 North Florida Mango Road West Palm Beach, FL 33407 Ruth Lande Shuman President Publicolor 11 4 East 32nd Street, Suite 900 New York, NY 10016 Kent Kcielz Fire Rescue Chief Town of Palm Beach Fire Rescue 360 South County Road, P 0 Box 2029 Palm Beach, FI 33480 Alisa Rubin Kurshan VP Strategic Planning & Organizational Resources UJA- Israel Trauma Coalition 130 East 59th Street New York, NY 10022 Alisa Rubin Kurshan VP Strategic Planning & Organizational Resources UJA-Self Help 130 East 59th Street New York, NY 10022

THE PICOWER FOUNDATION EIN 13-6927043 INDIVIDUAL 501(C)(3) N

PURPOSE 'To identify reporting platforms, purchase and install server and 501 (C)(3) desktop software and train internal staff

N

501(C)(3) Christmas Activities and Presents

$1,999

2

N

'Community Education, Teen Time La Prornesa and Breast Health 501 (C)(3) Education programs

$75,000

3

$60,000

4

N

COLOR Club and Next Steps programs

AMOUNT $125,000

N

501 (C)(3) General Operating Support

$5,000

N

501(C)(3) Israel Trauma Coalition

N

501(C)(3) Self Help

N

501 (C)(3)

8

N

501 (C)(3)

9

N

101,C),3)

10

$155,000

$50,000

471 .999

6

7

61

THE PICOWER FOUNDATION EIN 13-6927043

NAME AND ADDRESS Center for Reproductive Rights 120 Wall Street New York, NY 10005

Description of Property IINDIVIDUAL 501(C)(3) PURPOSE, Contributed N

501 (C)(3)

n/a

N

501 (C)(3)

n/a

Harlem Children's Zone 1916 Park Avenue, Suite 212 New York, NY 10037

N

501 (C)(3)

n/a

NARAL Pro-Choice America Foundation 1156 15th Street, Suite 700 Washington, D .C 20005

Method used to Determine Fair Market Value

Amount of Contribution (Fair Market Value)

500,04414 -

cost

06/09/2004 .

Appraisal

743,682

500,04414

cost

06/09/2004

Appraisal

743,682

cost

06/09/20041

Appraisal

Stock------

City Harvest 575 8th Avenue, 4th Floor New York, NY 100 18

Human Rights First 333 Seventh Avenue New York, NY 1000 1 -5004

87,492 shares of Cytokine PharmaSciences, Inc

Book Value

I Method I I used to Date of determine I Book Value Contribution

_T N 501(C)l

N

501 (C)(3)

n/a

n/a

87,492 shares of Cytokine PharmaSciences-, Inc Common Stock 87,492 shares of Cytokine PharmaSciences, Inc Common Stock 87,492 shares of Cytokine PharmaSciences, Inc Common Stock 87,493 shares of Cytokine PharmaSciences, Inc Common Stock 437,461

5UU,U44 14

1

1

743,682

500,04414

cost

1 06/0912004

Appraisal

743,6132

500,04985

cost

06/09/2004

Appraisal

743,690 .5

2,500,226 41

GRAND TOTAL :

3,718,418 .50

$31,508,982 .62

#13-6927043

THE PICOWER FOUNDATION 12-31-04

FORM 990-PF,

PART II,

LINE 14 - LAND,

Furniture & Fixtures Office & Computer Equipment Computer Software Leasehold Improvements Accumulated Depreciation

FORM 990-PF,

PART I,

BUILDING AND EQUIPMENT 1,691,527 171,659 13,805 5,167,489 7,044,480 (2,118,844) 4,925,636

LINE 19 - DEPRECIATION

Furniture & Fixtures Office & Computer Equipment Computer Software Leasehold Improvements

241,647 34,085 3,440 371,932 651,104

The Picower Foundation Depreciation Schedule Furniture and Fixture

160

Date 09/05101 OLFD Contract 01/11/02 John Rosselli & A 01123(02 Bunny Williams In 01/24/02 WD, Contract 01/31/02 kFD, Contract 02111/02 Bunny Williams In 0211 a(02 krchitectural Inter OV19/02 IkFD Contract 05108102 Jay S Greenspan OWIQ(02 OLFD Contract 07/25102 John Rosselli & A 1 Q/30102 rotai purchases 2002 WD Contract 02/14/03

Cost 1 .621 .691 95 1,58466 44,37000 1,02900 1,65900 41776 1,11100 5,01991 i,8a4 04 1,28000 1,66880 62000 60,644.17 9,19046

Year 7 7 7 7 7 7 7 7 7 7 7 7

Date 09/05101 NCE Audio Visual 01/07102 'IU Cards 01/15/02 'anon Business S 01/25102 Fairdinkum Consi. M30102 Fairchnicurn Const. 05130/02 3ell Account 06/11/02 rotai purchases 2002 -alrdinkurn Consi. 12/12103 -alrdinkum Const 04107/04

'ornputer 3oftyvare

74,89622

Cost 145,80574 10,43170 3,70664 2,00200 4,16829 61963 99800 21,926 .26 1,45894 2,46857 171,659 .51

Year 5 5 5 5 5 5 5

Cost 10,78250 2,27250 75000 3,022.50 13,805.00

Year 3 3 3

5 5

2001 9,42745

236,00201

2002 29,161 15 1,043 17 37066 20020 41U82 61 95 9980

2003 231,67028 22638 6,33867 14700 23700 6968 16871 717 13 269 15 18286 23840 8857

31,35375

2005 231,67028 22638 6,33857 14700 23700 5968 15871 71713 26915 18286 23840 8857

2006 231,67028 22638 6,33857 14700 23700 5968 15871 71713 26915 18286 23840 8857

2007 231,67028 22638 6,33857 14700 23700 5968 15871 71713 26916 18286 23840 8867

2008 156,77406 22638 6,33857 14700 23700 5968 15871 71713 269 15 18286 23840 8857

2009

2010

11319 3,16929 7350 11860 2984 7937 35858 13457 91 42 11920 4429

Total 1,621,691 .95 1,584 .66 44,37000 1,02900 1,659 .00 417 .76 1,111 .00 5,019.91 1,894.04 1,28000 1,66880 620.00

65647

1,31292

1,31292

1,31292

1,31292

1,31292

1,31292

65647

9,19046

240,99020

241,64665

241,646 .65

241,646 .65

241,64665

166,750 .42

5,644.66

656 .47

1,691,526 58

2003 29,161 15 2,08634 741 33 40040 83366 12393 19960 14589

9,427.45

2004 231,670 28 22638 6,33857 14700 23700 5968 15871 71713 269 15 18286 23840 8857

33,692 .30

2004 29,161 15 2,08634 74133 40040 83366 12393 19960

2005 29,161 15 2,08634 74133 40040 83366 12393 19960

2006 19,73369 2,08634 741 33 40040 83366 12393 19960

1,04317 37066 20020 41684 6197 9980

29179 24686 34,085 .06

291 79 49371 34,33190

29179 49371 24,904 .44

29179 49371 2,978.14

167

Date 09/0,5101 kcctrack Computi 01/31/02 koctrack Computf 02101/02 rotai purchases 2002

v

2002 231,67028 11319 3,16929 7350 11850 2984 7937 35856 13467 91 42 11920 4429

7

1,691,526 58 165 Mce and 'ornputer Eqpt

2001 74,89622

2001 1:161 95

2002 3,594 17 37876 12500

2003 3,594 17 75750 25000

2004 2,43221 75760 25000

37875 12500

Total 10,782 .50 2,272 .50 750 .00

1,161 .95

4,097.92

4,601 .67

3,439 .71

503 .75

13,805 .00

2005

2007

2008

14589 49371 639 .60

2009

24687 246.87

2010

Total 145,805.74 10,431 .70 3,706.64 2,002.00 4,168.29 619.63 998.00 1,458.94 2,468.57 171,659.51 171,659.51

,easehold mprovements

13,805 .00

170

Date 09/05/01 'ooley Monato St 01/1 .5(02 ,ooley Monato St 01/15102 -lack & Kurtz, Inc 01/15102 Flack & Kurtz, Inc 01/15(02 30M ol/15/02 01/15(02 30M ,ooley Monato St 01/15/02 1 T Magen & Cc 01117/02 Jnear Technologi 01/23(02 30M 02107/02 30M 02107/02 SOM 02107/02 30M OV07/02 30M 02/07/02 MM 02/07/02 Linear Technologi 02/07/02 Linear Technologi 02/07/02 Linear Technologi 04/04102 Flack & Kurtz, Inc 0&29/02 Rack & Kurtz, Inc M29102 J T Magen & Cc 1 110&02 Total purchases 2002 Jerome Gillman 07/29/03 Jerome Gillman 09/11/03 Total purchases 2003

Total Depreciation

Cost 4,664,317 23 23380 56922 42000 2549 6180 11478 37500 300,00000 79,51808 50021 87264 700 18,00000 4,50000 4,50000 8596 25,00000 3,415 T7 3,68400 22952 70,03300 512,14627 51700 50850 1,025.50 5,167,4a9.00

Year 14 13 is 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13

1

2001 49

2002 332,451 23 902 2187 16 14 099 240 441 1440 11,53848 3,05836 1922 3354 026 69228 173 10 17310 332 961 52 131 39 141 72 880 2,69360

12 12

2003 332,451 23 1798 4379 3231 196 475 883 2885 23,07692 6,11678 3848 6713 054 1,38462 346 15 34615 661 1,92308 26275 28338 1766 5,38715

2004 332,451 23 1798 4379 3231 196 475 883 2885 23 .07692 6,11678 3848 6713 054 1,38462 34615 34615 661 1,92308 26275 28338 1766 5,38715

2005 332,451 23 1798 4379 3231 1 96 475 883 2885 23,07692 6,11678 3848 67 13 054 1,38462 346 15 34615 661 1,92308 26275 28338 1766 5,387 iS

2006 332,451 23 1798 4379 3231 196 475 883 2885 23,07692 6,11678 3848 67 13 054 1,38462 346 15 346 15 661 1,92308 26275 28338 1766 5,36716

2007 .332,451 23 1798 4379 3231 196 475 883 2885 23,07692 6,116 7a 3848 6713 054 1,38462 346 15 34615 661 1,92308 26275 28338 1766 5,38715

2008 332,451 23 1798 4379 3231 196 475 883 2885 23,07692 6,11678 3848 67 13 054 1,38462 34615 346 15 661 1,92308 26275 28338 1766 5,387 15

2009 332,45123 1798 4379 3231 1 96 475 883 2885 23,07692 6,11678 3848 6713 054 1,38462 346 15 34615 661 1,92308 26275 28338 1766 5,38715

2010 332,45123 1798 4379 3231 196 475 893 2885 23,07692 6,11678 3848 6713 054 1,38462 34615 346 15 661 1,92308 26275 28338 1766 5,387 15

2011 332,451 23 1798 4379 3231 196 475 883 28 a5 23,07692 6,11678 3848 67 13 054 1,38462 346 15 346 15 661 1,92308 26275 28338 1766 5,387 15

2012 332,451 23 1798 4379 3231 1 96 475 883 2885 23,07692 6,11678 3848 6713 054 1,38462 346 15 34616 661 1,92308 26275 28338 1766 5,387 15

2013 332,45123 1798 4379 3231 196 475 883 2885 23,07692 6,11678 3848 6713 064 1,38462 34615 34615 661 1,92308 26275 28338 1766 5,38715

21 56 21 16

4308 4238

4308 4238

4308 4238

4308 4238

4308 4238

4308 4238

4308 4238

4308 4238

4308 4238

4308 4238

371,93256

371,93256

371,932-56

371,932-56

371,932.56.

371,932 .565

371,932 .56

371,932 .56

371,932.56

107,477.49

352,14AS

371,88982

371,932 .56

192,96311

623,602 .83

651,173.99

651,10398

4

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INFORMATION STATEMENT TO INTERNAL REVENUE SERVICE FROM CENTEX CORPORATION STOCKHOLDERS

STATEMENT OF CENTEX CORPORATION STOCKHOLDERS RECEIVING A DISTRIBUTION OF COMMON STOCK AND CLASS B COMMON STOCK IN EAGLE MATERIALS INC. f/k/a CENTEX CONSTRUCTION PRODUCTS, INC ("EXP") (A CONTROLLED CORPORATION), PURSUANT TO REGS. §1 .355-5(b)

I

The undersigned, a stockholder owning shares of Centex Corporation as of the close of regular trading on the New York Stock Exchange on January 14, 2004, received distribution of stock in a controlled corporation pursuant to §355.

2

The names and addresses of the corporations involved are Parent Centex Corporation 2728 North Harwood Dallas, Texas 75201 Controlled Corporation Eagle Materials Inc f/k/a Centex Construction Products, Inc 2728 North Harwood Dallas, Texas 75201

3.

4

No stock or securities in Centex Corporation were surrendered by the undersigned .

1- 2, 8 -5 3 Common shares of EXP were received, and 43 21501ass B common shares of EXP were received.

5

By letter dated November 7, 2003, the internal Revenue Service ruled that the distribution of shares of EXP was a nontaxable §355 corporate separation .

THE PICOWER FOUNDATION

Form 6868 (Rev . 12-2004)

Page 2

e If you are filing for an Additional (not automatic) 3-Month Extension, complete only Part 11 and check this box 10. Note . Only complete Part 11 if you have already been granted an automatic 3-month extension on a previously filed Form 8868 . If you are filing for an Automatic 3-Month Extension, complete only Part I (on page 1). J= Additional (not automatic) 3-Month Extension of Time-Must File Original and One Copy, Name of Exempt Organization Employer identification number Type or print The Picower Foundation 13 : 6927043 Fit by the Number, street, and room or suite no If a P 0 box, see instructions For IRS use only extended 1410 South Ocean Boulevard due date for ililing the City, town or post office, state, and ZIP code For a foreign address, see instructions :-jreturn See instructions Palm Beach, Florida 33480 Check type of return to be filed (File a separate application for each return)-

El Form 990 EJ Form 990-T (sec 401 (a) or 408(a) trust) 0 Form 5227 El Foini 990-BL El Form 990-T (trust other than above) EJ Form 6069 El Form 990-EZ 0 Form 1041-A EJ Form 8870 0 Form 990-PF El Form 4720 STOP : Do not complete Part 11 if you were not already granted an automatic 3-month extension on a previously filed Form 8868 . " The books are in the care of lip. Jel~lry .M . .. . Picower . ...... ... . . . . ............... ..... ... ........ ......... ... . 835-1332 561 FAX No Ill ( . . . 561 Telephone No Ill ----------- ---------------- . . . . . . . . . . . . ). .. . . . . . ..835-4112 .. . . . . . . . . . . . . . . " If the organization does not have an office or place of business in the United States, check this box " If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN) -If this is for the whole group, check this box Do- F] If it is for part of the group, check this box Ill [:] and attach a list with the names and EINs of all members the extension is for 4 1 request an additional 3-month extension of time until . . . . . . . . . . .Ncive-mbel. . . . . . . . . . . , 20 05 5 For calendar year ~904_ or other tax year beginning . . . . . . . . . . . . . . . . . 20 . . . and ending . . . . . . . . . . . . . . . . . 20- . 6 If this tax year is for less than 12 months, check reason El Initial return E) Final return El Change in accounting period is needed. --------to insure that complete and 7 State in detail why you need the extension Additional ------------ time --------------. ------------. . . . accurate . . . . . . . .. returns . . . . . . . . are ..... .filed. . . . . . . . . . . . . . -- --------- - -------------------------- - . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8a If-------------this application ----- is--------------------------------------------for Form 990-BL, 990-PF, 990-T, 4720, ----------------------or 6069, enter the --tentative ------------tax, less ------any----- ----------- - -, 78,038 .00 $ 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 $ 154,580 .00 previously with Form 8868 c Balance Due . Subtract line 8b from line 8a Include your payment with this form, or, if required, deposit 0 .00 with FTD coupon or, if required, by using EFTPS (Electronic Federal Tax Payment System) See instructions . $ Signature and Verification Under penalties of perjury, I declare that I have examined this form, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete, and that I am authorized to prepare this form Date 111: A J, Notice to Applicant-To Be Completed by the IRS We have approved this appl;cat:on Please attach this form to the organization's return We have not approved this application However, we have granted a 10-day grace period from the later of the date shown below or the due date of the organization's return (including any prior extensions) This grace period is considered to be a valid extension of time for elections otherwise required to be made on a timely return Please attach this form to the organization's return We have not approved this application After considering the reasons stated in item 7, we cannot grant your req,_,,,,est for an extension of bme, . . to file We are not granting a 1 0-day grace period % 36 We cannot con;ider this application because it was filed after the extended due date of the return for which an extension was requested .. . . . . . . Other . . . . . . . ------------------------------------ - ---------- . . . . . . . . . . . . . . . . . -------------- --- ---------

,Signature 11~

El

.7-

El El El

"4,,4 V /

Title li~

Mn .

By

Director

in

Date

Alternate Mailing Address - Enter the address if you want the copy of this application for an additional 34no~Jfi`exfe-,V- [qOVL~~' returned to an address different than the one entered above

Name

Type or print

Number and street (include suite, room, or apt. no .) or a P.O . box number i

EN

City or town, province or state, and country (including postal or ZIP code) Form

8868 (Rev

12-2004)

Forrn8868 (Rev December 2004) D;partment of the Treasury Internal Revenue Service

Application for Extension of Time To File an Exempt Organization Return

OMB No 1545-1709

llo- File a separate application for each return

0 If you are filing for an Automatic 3-Month Extension, complete only Part I and check this box . . . . . . . . 00. 0 If you are filing for an Additional (not automatic) 3-Month Extension, complete only Part 11 (on page 2 of this form). Do not complete Part It unless you have already been granted an automatic 3-month extension on a previously filed Form 8868 FOM Automatic 3-Month Extension of Time-Only submit original (no copies needed) Form 990-T corporations requesting an automatic 6-month extension-check this box and complete Part I only No- 0 All other corporations (including Form 990-C filers) must use Form 7004 to request an extension of time to file income tax retums Partnerships, REMICs, and trusts must use Form 8 736 to request an extension of time to file Form 1065, 1066, or 104 1 . Electronic Filing (e-file) . Form 8868 can be filed electronically if you want a 3-month automatic extension of time to file one of the returns noted below (6 months for corporate Form 990-T filers) However, you cannot file it electronically if you want the additional (not automatic) 3-month extension, instead you must submit the fully completed signed page 2 (Part 11) of Form 8868 . For more details on the electronic filing of this form, visit www.Irs govlefile Name of Exempt Organization Employer identification number Type or print The Picower Foundation 13 : 6927043 1 File by the Number, street, and room or suite no If a P 0 box, see instructions due date for 1410 South Ocean Boulevard filing your return See instructions

I

City, town or post office, state, and ZIP code For a foreign address, see instructions Palm Beach, FIL 33480

Check type of return to be filed (file a separate application for each return). El Form 990

El Form 990-T (corporation)

El Form 4720

El Form 990-BL

El Form 990-T (sec . 401 (a) or 408(a) trust)

0 Form 5227

El

El Form 6069

El

Form 990-EZ

21

Form 990-PF

Form 990-T (trust other than above)

El Form 1041-A

El Form 8870

0 The books are in the care of ji. .Jeff!Y . . . . . .M. . .. .Plco.wer . . . . . .. . --------------------------------------------------------------------) 835-4112 Telephone No No. (__561 ) 835-1332 FAX No . lll~ S .. . 561 ------------------------------------" If the organization does -------------------------------------not have an office or place of business in the United States, check this box . . . . . . lio- El " If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN) If this is for the whole group, check this box 10- [-] If it is for part of the group, check this box 0- E] and attach a list with the names and EINs of all members the extension will cover. 1 1 request an automatic 3-month (6-months for a Form 990-T corporation) extension of time until _Aujqy.~t 15.. . . . . . . . . . 20 P.5, to file the exempt organization return for the organization named above. The extension is for the organization's --. . . . return for: llp- 0 calendar year 20 0 4or Ili- El tax year beginning . ~ . .. . .. . ... . .. . . . . . . ... .. . . . . . .. . 20 _, and ending ---------------------------------- - 20 2

If this tax year is for less than 12 months, check reason* El Initial return

El 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 If 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 . . . . . . . . . . . . . .

$

78,038 .00

$

154,580.00

c Balance Due. Subtract line 3b from line 3a Include your payment with this form, or, if required, deposit with FTD coupon or, if required, by using EFTPS (Electronic Federal Tax Payment System). See instructions 0 .00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ Caution. If you are going to make an electronic fund withdrawal with this Form 8868, see Form 8453-EO and Form 8879-EO for payment instructions . For Privacy Act and Paperwork Reduction Act Notice, see Instructions .

Cat No 27916D

Form 8868 (Rev 12-2004)