Docstoc

garfield2004 -- cpf

Document Sample
garfield2004 -- cpf Powered By Docstoc
					      Fo~m 990-PF                                                            Return of Private Foundation                                                                      OMB No 1545-0052


                                                                     or Section 4947(a)(1) Nonexempt Charitable Trust
      Department of the Treasury                                              Treated as a Private Foundation                                                                    LOOL
      Internal Revenue Service             Note' The orga            stion may be able to use a copy of this return to satisfy state reporting requirements
      For ca ndar year 2002, or tax year beginning                           DEC     1,    2002                        and ending      NOV :30, 2003
      G Check all that a I '     0 Initial return                             ~ Final return                 D Ame ied retu rn        D Address. change            D
                             organization                                                                                              A Employer identification number
       Use the IRS Name of
          label.           HE GARFIELD FOUNDATION
       Otherwise,          /O BEHAN LING & RUTA CPA' S,                                               P.C.                                    22~-2285358
            print         Number and street (or P O box number if mail is not delivered to street address)                   Room/suite   g Telephone number
         or type . 358 FIFTH AVENUE, 9TH FLOOR                                                                                                212        -695-7003
      See Specific
                                              ZIP code
      Instructions . City or town, state, and
                                                                                                                                            If exemption application is pending, check here   1
                    NEW YORK                NY       10001                                                                                D 1 . Foreign organizations, check here             10
                                                                                                                                            2 . Foreign organizations meeting the 85% test,   ,
      H Check type of organization   FX_J Section 501(c)(3) exempt private foundation                                                           check here and attach computation
           Section 4947(a)(1) nonexempt charitable trust = Other taxable private foundation                                               E If private foundation status was terminated
      I Fair market value of all assets at end of year                J Accounting method  D Cash                       Accrual             under section 507(b)(1)(A), check here
        (from Part 1l, co/ (c), line 16)                                 D Other (specify)                                                F If the foundation is m a 60-month termination
        1104                 5 6 6 2 7 13 8 . (Part l, column (d) must be on cash basss.)                                                   under section 507 b 1 B , check here       "0
       part I Analysis of Revenue and Expenses                           (a) Revenue and (b) Net investment                                    (c) Adjusted net                (d) Disbursements
              (fhe total of amounts in columns (b), (c), and (d) may not
                                                                                                                         income                     income                   ~` `na"tab'e P°~°"~
                     necessarily equal the amounts in column (a))                     expenses per books                                                                        (cash basis only)

              1     Contributions, gifts, grants, etc , received
                    Check 1 FXK if the foundation is not required to attach Sch B
              2     Distributions from split-interest trusts
              3
                    Interest on savings and temporary
                    cash investments                                                                                          6.                                         STATEMENT 2
              4 Dividends and interest from securities                                 1,651,819 .                      592,828 .                                        STATEMENT 3
              5a Gross rents                                                             122,386 .                      122,386 .                                        STATEMENT 4
               b (Net rental income or (loss)           122             386 .
        7     sa Nne 9p n or (loss) from sale of assets not on
                                                                                     <1, 836, 0 5 6 .                                                                    STATEMENT . . .1
        y         h Gross sales price for all
                    assets on line 6a              2 3 310 0 5 4 .                                                                                                                                   ...
        d
        Q     7     Capital gain net income (from Part IV, line 2)


                                                                                                                                                                         OT *FSAA,
              8     Net short-term capital gain
                                                                                                                                                   a-
              9     Income modifications
              0a Gross sales less returns
                 and allowances

                  b Less Cost of goods sold
                  c Gross profit or (loss)
             11     Other income
             12     Total . Add lines 1 through 11                                         <61         845 .             715 220 .
             13     Compensation of officers, directors, trustees, etc                         30 ~                         3,000 .                                                   27,000 .
             14     Other employee salaries and wages
             15     Pension plans, employee benefits
        y 16a Legal fees                                      STMT 5                           18,377 .                              0.                                               18,377 .
            b Accounting fees                                 STMT 6                           20, 745 .                  15,559 .                                                       5, 186 .
            c Other professional fees
s!°     ; 17        Interest
    2 18 Taxes                            STMT                               7                 1,308            .           1,308 .                                                                 0.
    ~ 19 Depreciation and depletion                                                            8, 412           .               0.
      20 Occupancy                                                                             7 , 406          .               0.                                                     7, 406 .
    a 21 Travel, conferences, and meetings                                                   6 4 , 743          .               0.                                                    55, 062 .
      22 Printing and publications                                                             1 , 311          .                    0.                                                  1, 311 .
    X 23 Other expenses                  STMT                                8              786 , 581           .        338,532 .                                                 448,049 .
 (~ ~ 24 Total operating and administrative
                    expenses Add lines 13 through 23                                        9 3 8 , 883 .                358,399 .                                      1       562,391 .
 Z
        0
             25     Contributions, gifts, grants paid                                 2     929 , 697                                                                         2,929,697 .
 Q           26 Total expenses and disbursements .
                Add lines 24 and 25                                                    3    868 , 580 .                  358,399 .1                                     1     3,492,088 .
             27     Subtract line 26 from line 12
                  8 Excess of revenue over expenses and disbursements                <3 930 , 425 .
                h Net investment income (if           negative, enter -0-)                                           1,356,821 .
                c Adjusted net income (if negative, enter -0-)                                                                                     N/A
      22 3501                                                                                                                                                                  Form 990-PF(2002)
      01 -23-o3    LHA For Paperwork Reduction Act Notice, see the instructions .
                                                                                                 3
18041012 756258 GFDN                                                                2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                                                                    1
                                            THE GARFIELD FOUNDATION
   Form 990-PF (2002)                       C/O BEHAN L ING & RUTA C PA' S ,                                  P .C .                               22-2285358               Page 2
                                    Attachedschedules andamounts inthedescription                       leginning of year                          End of vear
              ~~     Balance Sheets column should be for endot-year amounts only
                                                                                                        (a) Book Value             b) Book Value            (c) Fair Market Value
          L Casb-non-interest-bearing                                                                     118,922 .                  782,079 .                       782,07 9 .
          2 Savings and temporary cash investments                                                      3,455,821 .                4,079,121 .                  4,079,121 .
          3 Accounts receivable 1
            Less allowance for doubtful accounts 1
          4 Pledges receivable 01
            Less allowance for doubtful accounts 1
          5    Grants receivable
          6    Receivables due from officers, directors, trustees, and other
               disqualified persons
          7    Other notes and lawns receivable

         Less allowance for doubtful accounts 1
         Inventories for sale or use
          8
  01
  N
  N
         Prepaid expenses and deferred charges
          9
  a 10a Investments - U S and state government obligations                       STMT         11        4,864,536 .                3,605,807 .                3,976,437 .
       b Investments-corporate stock                                             STMT         12       42,623,316 .               34,993,970 .               35,344,997 .
       c Investments-corporate bonds                                             STMT         13        8 .537 . 07 .              6,290,350 .                7,008,837 .
     11 investments - land, buildings, and equipment basis
              Less. accumulated depreciabon

         12    Investments - mortgage loans
         13    Investments - other                                               STMT 14                    420,617 .1             4,470,487 .                   4,794,373 .
         14    Land, buildings, and equipment basis 01                            27, 875 .
               Less accumulated depreciation STMT 15 .                            13, 115 .                  19,102 . 1                 1 4,760 .                    14,760 .
         15 Other assets (describe t                               STATEMENT 16 )                           500,262 .                  626,534 .                     26,534 .

         16 Total assets to be com p leted b all filers                                                60,539,883 .1              54,8113,108 .1             56,627,138 .
         17 Accounts payable and accrued expenses
         18 Grants payable
         19 Deferred revenue
         20    Loans from officers, directors, trustees, and other disqualified persons
   v 21        Mortgages and other notes payable
   J     22    Other liabilities (describe


      23 Total liabilities add lines 17 throu g h 22                                                                        0.                      0.
         Organizations that follow SEAS 117, check here                                   1 D
         and complete lines 24 through 26 and lines 30 and 31 .
  N
      24 Unrestricted
      25 Temporarily restricted
  m 26 Permanently restricted
  V
         Organizations that do not follow SFAS 117, check here                            1   _0
         and complete lines 27 through 31 .
  ,°~ 27 Capital stock, trust principal, or current funds                                               3,494,515 .                3,494,515 .
   r
  y 28 Paid-in or capital surplus, or land, bldg , and equipment fund                                                       0 .
  N
  a 29 Retained earnings, accumulated income, endowment, or other funds                                57,045,368 .               51,368,593 .
  °'
  z 30 Total net assets or fund balances                                                               60,539,883 .               54,863,108 .

         31 Total liabilities and net assets/fund balances                                         1   60,539,883 .1              54,86311`108 .

       p;~ ~~~        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)                                                                                 60,539,883 .
  2     Enter amount from Part I, line 27a                                                                                                                   <3,930,425 .>
  3     Other increases not included in line 2 (itemize) "                                                       SEE        STATEMENT        10                  16,353 .
  4 Add lines 1, 2, and 3                                                                                                                                    56,625,811 .
  5 Decreases not included in pine 2 (itemize) " ADJUSTMENT TO FMV VALUATION ACCOUNT                                                                          1,762,703 .
  6 Total net assets or fund balances at end of vear (line 4 minus line 5) - Part II, column (b), line 30                                                    54,863,1 08 .
                                                                                                                                                                  Fpm 990-PF (zom
  223511
  01-23-03
                                                                                           4
18041012             756258 GFDN                                              2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                                                    1
                          THE GARFIELD FOUNDATION
   Form 990-PF (2002)     C/O BEHAN L ING & RUTA CPA' S            P.C.                                                                                22-2285358                               3
    Part 1V     Capital Gains and Losses for Tax on Investment Income
                                                                                                                          1How acquired       (c) Date acquired            (d) Date sold
  .                        (a) List and describe the kind(s) of property sold (e g , real estate,                         P - Purchase
                            2-story brick warehouse, or common stock, 200 shs MLC Co )                                                          (mo , day, yr )           (mo , day, yr )
                                                                                                                          D - Donation
   1a
      b         SEE ATTACHED STATEMENT

      d
      e
                                                    (1) Depreciation allowed               (g) Cost or other basis                                (h) Gain or (loss)
               (e) Gross sales price
                                                          (or allowable)                    plus expense of sale                                (e) plus (f) minus (g)

      a
      b
      c
      d
      e            23,310,054 .                                                                 25,146,110 .                                                    <1,836,056 . >
           Complete only for assets shows            in column (h) and owned       the foundation on 12/31/69                              (I) Gains (Col (h) gam minus
                                                                                                                                          c;ol (k), but not less than -0-) or
                                                       (j) Adjusted basis                   (k) Excess of col (q
             (i) F M V as of 12/31/69                    as of 12/31/69                      over col (j), if any                               Losses (from col (h))

      a
      b
      c
      d
      e                                                                                                                                                           <1,836,056 .>
                                                               f If ain, also enter m Part I, line 7 1
  2 Capital gain net income or ( net capital loss )
            9                                                  l If loss), enter -0- in Part I, line 7 f                                                          <1 , 836 , 056 . >

  3 Net short-term capital gam or (loss) as defined m sections 1222(5) and (6)
    If gam, also enter in Part I, line 8, column (c)
        If (loss), enter -0- in Part I, line 8                                 3                                                                            N/A
      paart V J Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
  (For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income )

   If section 4940(4)(2) applies, leave this part blank

  Was the organization liable for the section 4942 tax on the distnbutable amount of any year in the base penod9                                                     E:1 Yes EXI No
  If 'Yes,'the organization does not qualify under section 4940(e) Do not complete this part
  1 Enter the appropriate amount in each column for each year, see instructions before making any entries

                                                                          (b)                                          (0                                    Distribution ratio
                   Base peand years
          Calendar ear or tax ear beg innin g in           Adjusted qualifying distributions          Net value of nonchantable-use assets              (col (b) divided by col (c ))
                           2001                                             3,314,341 .                               58,283,699 .                                         .056 8657
                           2000                                             2,968,600 .                               66,842,986 .                                         .0444115
                           1999                                             1,197,166 .                               28,557,913 .                                         .041 9206
                           1gg8                                               385,629 .                                6,212,956 .                                         .062 0685
                           1gg7                                               179,133 .                                4,226,637 .                                         .0423819

  2 Total of line 1, column (d)                                                                                                                    2                       .247 6482
  3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5, or by the number of years
    the foundation has been in existence if less than 5 years                                                                                      3                       . 049 5296


  4 Enter the net value of nonchantable-use assets for 2002 from Part X, line 5                                                                1   4   1          56,812, 370 .


  5       Multiply line 4 by line 3                                                                                                            1   5   1            2,813,894 .


  6 Enter 1 % of net investment income (1 % of Part I, line 27b)                                                                               1   6   I                     13,568 .


  7 Add lines 5 and 6                                                                                                                          1   7   1            2,827,462 .


  8 Enter qualifying distributions from Part XII, line 4                                                                                       1   8   1            3,492,088 .
          If line 8 is equal to or greater than line 7, check the box m Part VI, line 1 b, and complete that part using a 1 % tax rate
          See the Part VI instructions
  223521/01-23-03                                                                                                                                                        Form 990-PF (2002)
                                                                                     5
18041012 756258 GFDN                                                    2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                                                                        1
                         THE GARFIELD FOUNDATION
   Form 990-PF(2002)     C/O BEHAN LING & RUTA CPA'S              P .C .                      22-2285358          Page 4
    Part VI     Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 - see instructions)
     1 a Exempt operating foundations described in section 4940(d)(2), check here " D and enter "N/A" on line 1
         Date o1 ruling letter                             (attach copy of ruling letter it necessary-see instructions)
       b Domestic organizations that meet the section 4940(e) requirements in Part V, check here " D and enter 1 %                                  1             13,568 .
         of Part I, line 27b
       c All other domestic organizations enter 2% of line 27b Exempt foreign organizations enter 4% of Part I, line 12, col (b)
     2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-)                                     2                   0 .
     3    Add lines 1 and 2                                                                                                                         3             13,5 68 .
     4    Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-)                                4                   0.
     5    Tax based on investment Income . Subtract line 4 from line 3 If zero or less, enter -0-                                                   5             13,5 68 .
     6  Credits/Payments
      a 2002 estimated tax payments and 2001 overpayment credited to 2002                                     6a                  18,195 .
      b Exempt foreign organizations -tax withheld at source                                                  6b
      c Tax paid with application for extension of time to file (Form 8868)                                   6c
      d Backup withholding erroneously withheld                                                               6d
     7 Total credits and payments Add lines 6a through 6d                                                                                           7             18,195 .
    8 Enter any penalty for underpayment of estimated tax Check here 0 if Form 2220 is attached                                                     8
    9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amount owed                                                         "      9
   10 Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid                                             "      10             4 , 6 27 .
   11 Enter the amount of line 10 to be Credited to 2003 estimated tax 1                                         4 6 2 7 . Refunded "               11                    0 .
    Pert VII-A        Statements Regarding Activities
    1 a During the tax year, did the organization attempt to influence any national, state, or local legislation or did it participate or intervene m              Yes No
          any political campaign                                                                                                                             1a         X
        b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition)?              1b         X
            H the answer Is "Yes" to 1 a or 1 b, attach a detailed descnpUon of the activities and copies o1 any materials published or
            dlstnbuted by the organization in connection with the activities
        c Did the organization file Form 1120-POL for this years                                                                                             1c           X
        d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year
          (1) On the organization " $                            0 . (2) On organization managers " $                                  0.
        e Enter the reimbursement (if any) paid by the organization during the year for political expenditure tax imposed on organization
          managers " $                             0.
     2  Has the organization engaged m any activities that have not previously been reported to the IRS                                                      2            X
        If "Yes," attach a detailed descnphon of the activities
     3 Has the organization made any changes, not previously reported to the IRS, m its governing instrument, articles of incorporation, or
        bylaws, or other similar instruments If "Yes," attach a conformed copy of the changes                                                                3            K
     4a Did the organization have unrelated business gross income of $1,000 or more during the years                                                        4a      X
      b If "Yes,' has it filed a tax return on Form 990-T for this years                                                                                    4b      X
     5 Was there a liquidation, termination, dissolution, or substantial contraction during the years                                                        5
        If "Yes, " attach the statement required by General Instruction T
     6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either
        ~ By language m 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 instruments                                                                                                               6      K
     7 Did the organization have at least $5,000 in assets at any time during the years                                                                      7      X
          If "Yes, " complete Part fl, col. (c), and Part XV
     8a Enter the states to which the foundation reports or with which it is registered (see instructions) 1
         NEW JERSEY
      b If the answer is °Yes'to line 7, has the organization furnished a copy of Form 990-PF to the Attorney General (or designate)
        of each state as required by General Instruction G? If "No,"attach explanation                                                                      8b      X
     9 Is the organization claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar
        year 2002 or the taxable year beginning m 2002 (see instructions for Part XIV)? If "Yes," complete Part XIV                                          9
   10     Did any persons become substantial contributors during the tax years it 'Yes,' attach a schedule listing they names and addresses                 10            K
   11     Did the organization comply with the public inspection requirements for its annual returns and exemption application's                            11      X

          Web site address "            N/A
   12 The books are in care of " BEHAN LING & RUTA CPA'S,                                             P .C .                     Telephone no " 212-695-7003
      Locatedat " 358 FIFTH AVENUE, NEW YORK, NY                                                                                               ZAP+4 .10001
   13     Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF m lieu of Form 1041 - Check here
         and enter the amount of tax-exempt interest received or accrued during the year                                                      10- 1 13 ~         N/A
   223531
   01-23-03                                                                                                                                                Form 990-PF (zooz)
                                                                                  6
18041012          756258 GFDN                                        2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                                                         1
                                 THE GARFIELD FOUNDATION
  Form 990-PF(2002)              C/0 BEHAN LING & RUTA CPA'S, P .C .                                                                  22-2285358                Pages
   Part Vtl"B S                                   for Which Form 4720 May Be
         File Form 4720 if any item is checked in the "Yes" column, unless an exception applies .
   '11 a Dunng'the year did the organization (either directly or indirectly)
         (1) Engage in the sale or exchange, or leasing of property with a disqualified persons                              ~ Yes D No
         (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
            a disqualified persons                                                                                           D Yes ~ No
        (3) Furnish goods, services, or facilities to (or accept them from) a disqualified persons                           EKI Yes 0 No
        (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified persons                                 0 Yes D No
        (5) Transfer any income or assets to a disqualified person (or make any of either available
             for the benefit or use of a disqualified person)                                                                = Yes D No
        (6) Agree to pay money or property to a government officials (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 )                                                    0 Yes D No
     b If any answer is'Yes" to 1a(1)-(6), did any of the acts fad to qualify under the exceptions described in Regulations
       section 53 4941(d)-3 or m a current notice regarding disaster assistance (see page 19 of the instructions)                                                 X
       Organizations relying on a current notice regarding disaster assistance check here
     c Did the organization engage m a prior year in any of the acts described in 1a, other than excepted acts, that were not corrected
       before the first day of the tax year beginning m 2002                                                                                                      X
       Taxes on failure to distribute income (section 4942) (does not apply for years the organization was a private operating foundation
       defined in section 4942(j)(3) or 4942(j)(5))
     a At the end of tax year 2002, did the organization have any undistributed income (lines 6d and 6e, Part X11 1) for tax year(s) beginning
       before 2002                                                                                                                  = Yes D No
       It 'Yes,* list the years 01,
     b Are there any years listed in 2a for which the organization is not applying the provisions of section 4942(a)(2) (relating to incorrect
       valuation of assets) to the year's undistributed income? (If applying section 4942(a)(2) to all years listed, answer "No" and attach
        statement-see instructions )                                                                                                     N/A          2b
     c If the provisions of section 4942(a)(2) are being applied to any of the years listed m 2a, list the years here


    3a Did the organization hold more than a 2% direct or indirect interest in any business enterprise at any time
       during the years                                                                                                            0 Yes [K] No
     b If "Yes," did it have excess business holdings in 2002 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 2002)                                                     N/A      3b
    4a Did the organization invest during the year any amount in a manner that would jeopardize its charitable purposes                               4a          X
     b Did the organization make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that
       had not been removed from jeopardy before the first day of the tax year beginning in 2002                                                      4b          X
    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))?                                  ~ Yes ~ No
       (2) Influence the outcome of any specific public election (see section 4955), or to    carry on, directly or indirectly,
            any voter registration drive?                                                                                            Yes   No
       (3) Provide a grant to an individual for travel, study, or other similar purposes                                         ~   Yes D No
       (4) Provide a grant to an organization other than a charitable, etc , organization described in section
            509(a)(1), (2), or (3), or section 4940(d)(2)?                                                                       ~   Yes D No
       (5) Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for
            the prevention of cruelty to children or animals                                                                     ~   Yes 0 No
     b If any answer is'Yes'to 5a(1)-(5), did any of the transactions fad to qualify under the exceptions described in Regulations
       section 53 4945 or in a current notice regarding disaster assistance (see instructions)'?                                                      5111        X
       Organizations relying on a current notice regarding disaster assistance check here
     c If the answer is 'Yes'to question 5a(4), does the organization claim exemption from the tax because it maintained
       expenditure responsibility for the grants                                                                             EXI Yes ~ No
       If "Yes, " attach the statement required by Regulations section 53 .4945-5(d).
    6a Did the organization, during the year, receive any funds, directly or indirectly, to pay premiums on
       a personal benefit contracts                                                                                          0 Yes [K] No
     b Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contracts                                   6b          X
       H you answered "Yes" to 6b, also file Form 8870.
                                                                                                                                                   Form 990-PF (2002)

  223541
  01-23-03
                                                                                               7

18041012         756258 GFDN                                      2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                                                    1
                              THE GARFIELD FOUNDATION
                              C/O BEHAN LING & RUTA CPA'S, P .C .                                                     22-2285358
                   Information About Officers, Directors, Trustees, Foundation Managers, Highly                                                      Pa
   0 Paid Employees, and Contractors
   1 List all officers, directors, trustees, foundation managers and their compensation :
                                                                              (b) Title, and aversge (c) Compensation (conmounonsto          (e) Ex pense
                                                                             hours per week devoted     (If not paid, emp ogee benefit lans
                                                                                                                          a~d~~,~~          account, other
                               (a) Name and address                                                                                           allowan ces
                                                                                    to position           enter -0-      compensa4an
   BRIAN GARFIELD                                                          TRUSTEE- PRESIDENT
   11288 VENTURA BLVD # 603
   STUDIO CITY CA 91604-3135                                               10                            10 , 000 .                    0.               0.
   RONALD BERMAN                                                           TRUSTEE- VICE PRESIDE
   24 BROOKSTONE DRIVE
   PRINCETON NJ 08540                                                      10                            10 L000-                      0.               0.
   MICHAEL BALDWIN                                                         TRUSTEE- SEC / TREAS
   3 BARNABAS ROAD
   MARION MA 02738                                                         10                            10,000 .                      0.               0.




            pensation of five highest-paid employees (other than those included on line 1) . If none, enter "NONE ."
                                                                             (b) Title and average                                             (d~conmouaonsto           (e) Expense
                                                                                                                                              empoay~~~re~fitpians
            (a) Name and address of each employee paid more than $50,000        hours per week         (c) Compensation                                                 account, other
                                                                              devoted to p osition                                                comcensauo              allowa nces
                NONE




   Total number of other employees paid over $50,000                                                                                                        10- 1                     0
   3 Five highest-paid independent contractors for professional services. If none, enter "NONE."
                      (a) Name and address of each person paid more than $50,000                 (b) Type of service                                                 (c) Compe nsation
   FIDUCIARY TRUST COMPANY INTERNATIONAL                                                  INVESTMENT
   600 FIFTH AVENUE                      NEW YORK             NY 10020                    MANAGEMENT FEES                                                             135 090 .
   BALDWIN BROTHERS INC                                                                   INVESTMENT
   3 BARNABAS ROAD                    MARION           MA 02738                           MANAGEMENT FEES                                                             140 9 56 .
   MERRILL LYNCH                                                                          INVESTMENT
   7 ROSZEL ROAD                  4TH FLOOR               PRINCETON              NJ 08540 MANAGEMENT FEES                                                               62 , 103 .
   CAROL GLAZER CONSULTING INC
   201 EAST 79TH STREET NEW YORK NY 10021                                                 C ONSULTING FEES                                                              57,500 .



   Total number of others receiving over $50,000 for professional services                                                                                  "~                        0
    Part JX-q Summary of Direct Charitable Activities
   List the foundation's four largest direct charitable activities during the tax year Include relevant statistical information such as the
   number of organizations and other beneficiaries served, conferences convened, research papers produced, etc                                                       Expenses

    FUNDS RECEIVED ARE USED TO PAY ADMINISTRATION EXPENSES,
    AND THE BALANCE IS DISTRIBUTED TO QUALIFIED CHARITABL E
    ORGANIZATIONS UNDER THE INTERNAL REVENUE CODE .                                                                                                           3 , 868 , 580 .
  2



  3



  4




                                                                                                                                                             Form 990-PF (zooz)
                                                                                              8
18041012        756258 GFDN                                       2002 .09000                THE GARFIELD FOUNDATION C/0 GFDN                                                     1
                                    THE GARFIELD FOUNDATION
   Form 990-PF(2002)                C/O BEHAN LING & RUTA CPA'S,                                         P .C .                          22-2285358                  Page?

       Part !X-8 Summary of Program-Related Investments
       Describe th2 two largest program-related investments made by the foundation during the tax year on lines 1 and 2                                   Amount
          N/A



   2



       All other program-related investments See instructions
   3



   Total . Add lines 1 through 3                                                                                                          11111. 1                      0 .

       Pi1"E X       Minimum Investment Return (All domestic foundations must complete this part . Foreign foundations, see instructions .)

   1       Fair market value of assets not used (or held for use) directly in carrying out charitable, etc , purposes
       a   Average monthly fair market value of securities                                                                          la               46     519      8 56   .
       b   Average of monthly cash balances                                                                                         ib                5   , 564    , 7 28   .
       c   Fair market value of all other assets                                                                                    1c                5   , 592    , 949    .
       d   Total (add lines 1a, b, and c)                                                                                           id               57     677      533    .
       e   Reduction claimed for blockage or other factors reported on lines 1 a and
           is (attach detailed explanation)                                                           1e                  0 .
   2       Acquisition indebtedness applicable to line 1 assets                                                                     2                           0.
   3       Subtract line 2 from line 11d                                                                                            3                57 677 533 .
   4       Cash deemed held for charitable activities Enter 1 1/2% of line 3 (for greater amount, see instructions)                 a                    865 163 .
   5       Net value of noncharitable-use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4                     5                56 812 3 70 .
   6       Minimum investment return Enter 5% of line 5                                                                             s                 2 .840 .619 .
              ~~ DlStrlbutable Amount (see instructions) (Section 4942(j)(3) and (1)(5) private operating foundations and certain
                 foreign organizations check here " = and do not complete this part )
   1   Minimum investment return from Part X, line 6                                                                      1                           L,tf4V,bly .
   2a Tax on investment income for 2002 from Part VI, line 5                          2a                 13,5 68 .
     b Income tax for 2002 (This does not include the tax from Part VI )              2b                        382 .
     c Add lines 2a and 2b                                                                                                tc                             13 , 950 .
   3 Distnbutable amount before adjustments Subtract line 2c from line 1                                                  3                           2,826,669 .
   4a      Recoveries of amounts treated as qualifying distributions                            4a                        0.
     b     Income distributions from section 4947(a)(2) trusts                                  4b                        0.
     c     Add lines 4a and 4b                                                                                                      sc                            0.
   5       Add lines 3 and 4c                                                                                                       5                 2 , 826 , 669 .
   g       Deduction from distnbutable amount (see instructions)                                                                    s                             0 .
   7       Distributable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII, line 1                     ~   7    I            2,826,669 .

       Part 7f11 Qualifying Distributions (see instructions)
   1  Amounts paid (including administrative expenses) to accomplish charitable, etc , purposes
    a Expenses, contributions, gifts, etc -total from Part I, column (d), line 26                                                   1a                3 , 492 , 088 .
    b Program-related investments-Total from Part IX-B                                                                              1b
   2 Amounts paid to acquire assets used (or held for use) directly m carrying out charitable, etc , purposes                        2
   3 Amounts set aside for specific charitable projects that satisfy the
    a Suitability test (prior IRS approval required)                                                                                3a
    b Cash distribution test (attach the required schedule)                                                                         3b
   4 Qualifying distributions . Add lines 1 a through 3b Enter here and on Part V, line 8, and Part XIII, line 4                     4                3 , 492 , 088 .
   5 Organizations that quality under section 4940(e) for the reduced rate of tax on net investment
           income Enter 1% of Part I, line 27b                                                                              5                     13 , 568 .
   6       Adjusted qualifying distributions . Subtract line 5 from line 4                                                   6             3 , 478 , 520 .
           Note : The amount on line 6 will be used m Part V, column (b), in subsequent years when calculating whether the foundation qualifies for the section
                  4940(e) reduction of tax m those years.
                                                                                                                                                          Form 990-PF (zooz)

   223561
   01-23-03
                                                                                   9
18041012            756258 GFDN                                       2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                                                      1
                                        THE        GARFIELD FOUNDATION
   Form 990-PF(2002)                    C/O        BEHAN LING & RUTA CPA'S,             P .C .                       22-2285358            Page B

    P2frt Xl11           Undistributed Income (see instructions)

                   '                                               (a)                  (b)                    (c)                  (d)
                                                                 Corpus         Years priorto 2001            2001                 2002
    1     Distnbutable amount
          for 2002 from Part XI, line 7                                                                                        2,826 , 6 69 .
    2     Undistributed income, if any, as of the end of 2001
        a Enter amount for 2001 only                                                                          146,680 .
        b Total for prior years
                                                                                                     0 .
    3     Excess distributions carryover, if any, to 2002
         a From 1997
         b From 1998
         c From 1999
         d From 2000
         e From 200                      168 , 806 .
        f Total of lines 3a through e                            168,806 .
    4     Qualifying distributions for 2002 from
          Part Xll,line 4 " $        3 , 492 , 088 .
        a Applied to 2001, but not more than line 2a                                                          146 , 680 .
        b Applied to undistributed income of prior
          years (Election required -see instructions)                                                0
        c Treated as distributions out of corpus
          (Election required - see instructions)                          0 .
        d Applied to 2002 distributable amount                                                                                 2,826,6 69 .
     e Remaining amount distributed out of corpus                518,739 .
    5 Excess distributions carryover applied to 2002                   0
       (Iran amount appears in column (d), the same amount
       must be shown in column (a) )
    6 Enter the net total of each column as
       indicated below :
     8 Corpus Add lines 3f, 4c, and 4e Subtract line 5           687,545 .
     b Prior years' undistributed income Subtract
       line 4b from line 2b
        c Enter the amount of prior years'
          undistributed income for which a notice of
          deficiency has been issued, or on which
          the section 4942(a) tax has been previously
          assessed                                                                                   0.
     d Subtract line 6c from line 6b Taxable
       amount-see instructions                                                                       4
     e Undistributed income for 2001 Subtract line
       4a from line 2a Taxable amount - see instr                                                                     0 .
     t Undistributed income for 2002 Subtract
       lines 4d and 5 from line 1 This amount must
       be distributed in 2003
    7 Amounts treated as distributions out of
      corpus to satisfy requirements imposed by
      section 170(b)(1)(E) or 4942(8)(3)                                  0 .
   8 Excess distributions carryover from 1997
      not applied on line 5 or line 7                                     0 .
   9 Excess distributions carryover to 2003 .
      Subtract lines 7 and 8 from line 6a                        687,545 .
  10 Analysis of line 9
    a Excess from 1998
        b Excess from 1999
        c Excess from 2000
        d Excess from 2001                   168,806 .
        e Excess from 2002                   518 , 739 .
                                                                                                                                Form 990-PF (2002)
   223571
   01-23-03
                                                                                 10
18041012               756258          GFDN                     2002 .09000     THE    GARFIELD            FOUNDATION       C/O GFDN          1
                                  THE GARFIELD FOUNDATION
   Form 990-PF 2002               C/O BEHAN LING & RUTA CPA'S                                          P .C .                                 22-2285358              Page 9
    part XIV Private Operating Foundations                          (see instructions and Part VII-A, question s)                N /A
    1 a If the foundation has received a ruling or determination letter that it is a private operating
        foundation, and the ruling is effective for 2002, enter the date of the ruling                            1
      b Check box to indicate whether the organization is a p rivate opera tin foundation described m section            E ::] 4942 0)( 3 ) or 0 4942(1)(5)
    2 a Enter the lesser of the adjusted net               Tax year                                        Prior 3 years
        income from Part I or the minimum                  (a) 2002                    (b) 2001               (c) 2000                  (d) 1999            (e) Total
          investment return from Part X for
          each year listed
        b 85% of line 2a
        c Qualifying distributions from Part XII,
          line 4 for each year listed
        d Amounts included in line 2c not
          used directly for active conduct of
       exempt activities
     e Qualifying distributions made directly
       for active conduct of exempt activities
       Subtract line 2d from line 2c
    3 Complete 3a, b, or c for the
       alternative test relied upon
     a 'Assets' alternative test - enter
       (1) Value of all assets
          (2) Value of assets qualifying
                under section 4942(j)(3)(B)(i)
        b "Endowment alternative test - Enter
          2/3 of minimum investment return
          shown in Part X, line 6 for each year
          listed
        c 'Support"alternative test -enter
          (1) Total support other than gross
                investment income (interest,
               dividends, rents, payments on
               securities loans (section
               512(a)(5)), or royalties)
          (2) Support from general public
              and 5 or more exempt
              organizations as provided m
              section 4942(j)(3)(B)(ui)
          (3) Largest amount of support from
          an exempt organization
        4 Gross investment income
    Part XY Supplementary Information (Complete this part only if the organization shad $5,000 or more in assets
               at any time during the year-see page 25 of the instructions .)
    1     Information Regarding Foundation Managers :
        a List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation before the close of any tax
          year (but only if they have contributed more than $5,000) (See section 507(d)(2) )
   NONE
        b List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the ownership of a partnership or
          other entity) of which the foundation has a 10% or greater interest
  NONE
   2     Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs :
         Check here " ~X if the organization only makes contributions to preselected charitable organizations and does nol accept unsolicited requests for funds If
         the organization makes gifts, grants, etc (see instructions) to individuals or organizations under other conditions, complete items 2a, b, c, and d
     a The name, address, and telephone number of the person to whom applications should be addressed
   SEE STATEMENT 9


     b The form in which applications should be submitted and information and materials they should include
   SEE STATEMENT 9
     c Any submission deadlines
   SEE STATEMENT 9
     d Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors
   SEE STATEMENT 9

  223581/01-23-03                                                                                                                                        Form 990-PF (2oo2)
                                                                                               11

18041012          756258 GFDN                                     2002 .09000               THE GARFIELD                  FOUNDATION C/O GFDN                            1
                      THE GARFIELD FOUNDATION




  223601/01-2303                                                            Form 990-PF (zooz)
                                                 12
18041012       756258 GFDN          2002 .09000 THE GARFIELD FOUNDATION C/O GFDN
                                 THE GARFIELD FOUNDATION
  Form 990-PF(2002)              C/O BEHAN LING & RUTA CPA'S,                                   P .C .                                   22-2285358                          Pagell

   Part XY~-A            Analysis of Income-Producing Activities
  EAter gross amounts unless otherwise indicated                        Unrelated business income          IExcluded b section 512 . spa ars1a


                                                                       code                                code             "    ~~ "               .- . ._ . ._ . . .. .__ . . ._
   1 Program service revenue
     a
     b
     c
     d
     e
     t
     g   Fees and contracts from government agencies
   2 Membership dues and assessments
   3 Interest on savings and temporary cash
     investments                                                                                                                                             6
   4 Dividends and interest from securities                                                                                                          1,651,819 .
   5 Net rental income or (loss) from real estate
     a Debt-financed property                                                                               16                  122,386 .
     b Not debt-financed property
   6 Net rental income or (loss) from personal
     property
   7 Other investment income
   8 Gam or (loss) from sales of assets other
     than inventory                                                                                                                               <1,836,0 56 . >
   9 Net income or (loss) from special events
  10 Gross profit or (loss) from sales of inventory
  11 Other revenue
     a
     b
     c
     d
     e
  12 Subtotal Add columns (b), (d), and (e)                                                          0.           ~             12-2,38-6- 1            <184,231 . >
  13 Total . Add line 12, columns (b), (d), and (e)                                                                                       13                 <61,845 . >
  (See worksheet in line 13 instructions to verify calculations )

   PirtXVI»B              Relationship of Activities to the Accomplishment of Exempt Purposes

   Line No .      Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of
                  the organization's exempt purposes (other than by providing funds for such purposes)
  3,4          FUNDS RECEIVED ARE USED TO PAY ADMINISTRATION EXPENSES, AND
                HE BALANCE IS DISTRIBUTED TO QUALIFIED CHARITABLE;
               ORGANIZATIONS .




  223611
  01-23-03                                                                                                          Fog 990-PF (zooz)
                                                                                         13
18041012 756258 GFDN                                                2002 .09000         THE GARFIELD FOUNDATION C/O GFDN          1
                         THE GARFIELD FOUNDATION
  Form 990-PF(2002)     C/O BEHAN LING & RUTA CPA'S, P .C .                                22-2285358                                                                 Page 12
   ~XVII          Information Regarding Transfers To and Transactions and Relationships With Noncharitable
                  Exempt Organizations
      Did the organization directly or indirectly engage m any of the following with any other organization described in section 501(c) of                         Yes Nc
      the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations
    a Transfers from the reporting organization to a nonchantable exempt organization of
      (1) Cash                                                                                                                                           1a 1
      (2) Other assets                                                                                                                                   1 a(211          X
    b Other Transactions
      (1) Sales of assets to a noncharitable exempt organization                                                                                        1h 1              X
      (2) Purchases of assets from a noncharitable exempt organization                                                                                  1b ( 2)
      (3) Rental of facilities, equipment, or other assets
      (4) Reimbursement arrangements
      (5) Loans or loan guarantees
      (6) Performance of services or membership or fundraising solicitations                                                                             1b ( 6 ) .
    c Sharing of facilities, equipment, marling lists, other assets, or paid employees                                                                    1c
    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 m any transaction or sharing arrangement, show in




   2a Is the organization directly or indirectly affiliated with, or related to, one or more tax-exempt organizations described
      m section 501(c) of the Code (other than section 501(c)(3)) or in section 527 ?                                                               E:1 Yes         M No




18041012
              STATEMENT ATTACHED FOR FORM 990-PF

              `        THE GARFIELD FOUNDATION

                       EIN 0 22-2285358

                       FISCAL YEAR ENDING: NOVEMBER 30, 2003

Part VII-B:            Part VII-B : Statements Regarding Activities for Which Form 4720 May Be Required

  Line Sc:             Statement required by Regulations section 53.4945-5 (d)




     (I)               The name and address of the grantee:

                       Inciativa Amotcodie
                       Barrio Textil casa 14
                       Casilla de Correo 96
                       3600 Formosa
                       Argentina


     (II)              The date and the amount of the grant:

                       5/5/2003                $80,000


    (III)             The purpose of the grant

                      See statement attached


    (11)              The amounts expended by the grantee( based upon the most recent report
                      received from the grantee) .

                            $80,000 .00


    (V)               Whether the grantee has diverted any portion of the funds ( or the Income therefrom
                      in the case of an endowment grant) from the purpose of the grant ( to the knowledge
                      of the grantor).

                      No

   (VI)               The dates of any reports received from the grantee .

                      None before 11/30/2003

   (VII)              The date and results of any verification of the grantee's reports undertaken pursuant
                      to and to the extent required under paragraph O(1) of this section by the grantor or by
                      others at the direction of the grantor.

                      None before 11/30/2003




      10/12/2004-cn
r``




       Dear Luis Maria De 1a Cruz:
                 The Gafield Foundation (the "Foundation') has approved a grant for FUNGIR
       (Foundation for the Regional Research and Development) for the project Btodiversity
       Conservation of ft Intend Delta o! the Pilcomayo River. focusing on Wichi and
       Toba Indigenous Associations and the Indigenous Commission of the Pilcomayo
       Basin: The project will conserve the rich wetland,Chaco b+odiversity of the Pilcomayo
       Basin by strengthening the technical and organizational capacity of the indigenous
       Commission to influence the decisions of the Evivpean Union funded Trinational
       Commission of the Pilcomayo, and strengthening the capadty of Tob2i and Wichi
       communities to develop natural management plans for their territories, set up their'owa
       protected zones, and influence the management of resources to which they, have access
       rights. .
       FUNGIR has been designated the, recipient of the US $150,000 "aanird to be utilized for
       the designated purpose between May t, 2003 and April 30, 2005 .
       Schedule of Payments and Resorts: An initial payment of $80,000 will be issued in May
       2003.
       A second payment of $70,000 will be issued in May 2004 upon receipt and nevieUv of the
       following reports:
       "  Mid-year narrative report due by November 30, 2003
          Year-to-date narrative and financial reports due by April 30, 2004
       FUNGIR will furnish the following reports during year-two of the project :
       " Mid-year narrative report due by,November 30, 2004
       " , Year-end narrative and financial reports due by May 31, 2005
       Financial reports will detail project expenditures irk accordance with the budget outlined
       in the attached proposal. All income for the project must also be reported:
      Narrative reports will describe the manner in which grant funds have been spent and the
      progress made in accomplishing the purposes of the grant that will include reflective self-
      evaluation, challenges met and how the project outcomes have affected program
      recipients.                             .
      Because FUNGIR is a registered non-profit, non-governmental organizstion in Argentina
      but is not recognized as a United States charity under Section 501(c)(3)~ of the United
      States Internal Revenue Code, the Foundation is required to obtain your agreement to
      the following terms to assure compliance with the Interriel Revenue-Code .

             FUNGIR was created- in 1988 and is operated exclusively for charitable for
             educational] purposes. . The activities of FUNGiR will inducts :
                Working w4fi indigenous. community ~ representatives to strengthan the
                technical and organizational capacity of,the indigenous commission of we
                Pilcomayo to assist the Trinational Piloomayo Basin Commission ;
                Assisting Toba and Wichi to create natural resource management plans and
                strategies for their ternaries ;,
                Assisting Toba to exercise their rights for lradiCional hunting, fishing and
                gathering in territories along the river - particularly in the sections between
                their and the Wichi lands, where local ranchers are beginning~to invade and
                cut forest;


      Garfield FoundstbNFUNGIR Grant AgreOnent- May 1, 20.03-April 30, 2005         Page 1. of 3
       "    Assisting Wichi communities to. evaluate the detrimental impact on their
            natural resources and'to develop plans that will prevent invasions by small
            local ranchers;
       "    Assisting Wchi to strengthen their internal capacity and emerge from a period
            of division by learning from the Toba Association, enabling them td
            consolidate their rights and participation at the ,community level as well as
            within context of the Commission .

 2.    FUNGIR has no shareholders or members who have a proprietary interest in its
       income and assets. In the event that FUNGIR were to be liquidated or dissolved,
       under the laws and customs applicable, or under the governing instruments, all its
       assets would -be distributed -to another not-for-profit organization for charitable,
       religious, scientific, literary or educational purposes. FUNGIR is not controlled by
       or operated in connection with any other organization .

       The laws and customs applicable to FUNGIR:
       a.   Do not permit it to engage in activities that arse not for religious, charitable,
            scientific, literary or educational purposes or to attempt to infauenoe legislation
            by propaganda .or otherwise;
       b.   Do not permit it directly or indirectly to participate or intervene in any political
            campaign. on behalf of, or in opposition to, 8ny.candidate for public ice; and
       c.   Do not permit any of its income or, assets to be distributed M, or applied for
            the benefit qf, a private person or non-charitable organizatjon other than
            pursuant to the ,conducl of FUNGIR's charitable activities, or as payment of
            reasonable compensation for service rendered or a payment repr6senting the
            fair mantel value of property which FUNGIR has purchased.

 4.    The entire grant funds w11 be used for the charitable purpose of enabling FUNGIR
       to complete the activities described in detail in the attached proposal. .
      .Please refer to the attached proposal for the details of active?ies assoCieted with
       this grant.
5.    FUNGIR will not use the grant funds for any purpose that would be prohibitive
      were it an American organization,as described. in section 501(c)(3) of the Internal
      Revenue Code.

6.    FUNGIR will repay any portion of the amount of the grant that is not used for the
      project in accordance with the terms of this agreement.

7.    FUNGIR agrees to supply the Foundation whh such other information as may be
      necessary or desirable to permit the Foundation to exercise its responsibility for
      the supervision of the grant as required by the Internal Revenue Code.

8.    A written instrument executed by both the Foundation and FUNGlIZ may modify
      this agreement .

9.    FUNGIR agrees to maintain records of receipts.and expenditures and, to make its
      books and records available to the Foundation at reasonable times.



Gadield FoundatioNFUNGIR Grant Agreementp- May t, 2003-April 30, 20Q6              Paeo 2 of 3

                                                                                           wa az to goo :iltiso
    r




         10.     FIJNGIR agrees not to use any. portion of the grant
                 a.     To carry on propaganda. or otherwise to attempt to influence legislation
                        (within the meaning of section 4945(d)(1) of the Intemal~Revenue Code of the
                        United States) ;
                 b.     To influence the outcome of any spec public election, or to carry on,
                        directly or indirectly, any voter registration drive (within the meaning of
                      - section 4945(d)(2) of the Internal Revenue Code of the United States);
                 c.    To make any grant which does not comply, with the requirements of section
                       4945(d)(3) or (4) of the Internal Revenue Code of the United States; or
.                d.    To undertake any acfivity for any purpose other than one specified in section
                       17(c)(2)(8) .


                                 .                      On behalf of the Garfleld Foungladon
                                                        Executive Director, Jennie .l6AcCann

         Date:
                                                                       L

         FUNGIR (Foundation for the Regional Research and Development) hereby agrees to the
         terms and conditions of the grant as recited above.

                                                        On behalf of th U IR
                                                 -      Executive Di   or uis Maria De !a Cruz

         Date:    l Wk- faro -ZW3                                                 '




                                                                        ,,




        GarHeld FoundadoNFUNGIR Grant Ilgreernent - May 1, 2003-April 30, X006 ,       Page i of 3

                                                                                               Rd 6a-+o fooziIaiso
                           THE GARFIELD FOUNDATION
                        3 BA,1trTABA.S ROAD, MASON, MA 02738
                                       (508) 748-3199

                          Cover Sheet for Grant Applications

To cnrxnfrnther pmcr,~ri~g ofyoxr orgim-taQioff 'rgarxt appdicatiox, please mom this crrnrpleted Coler Sheet
to the Geld Foxndadmr fficG T& Ga?fiald Fwdavon nlcoxmgel the Cow S,bntr & rubraritkd ua t-
malto: inqrriy~ga aq%*oxndoliox.org

Organization Fundadpn ,cfara la Gestion x la Inves ' 'on                              .onal ( 1NriA)
ENGLISH- Foundation for the Regjo" $rsearch and Devekonment
Contact Person lads Maria de la Cruz
Tide Executive Director
Address Bacz~iQ TCxdl casa,14 - Casilla de Correo 96 : 3600 Formosa- Argentina
Phone +54 37 4,x,8634 / 2727
            17
Fax +54 3712 43 12Q0

E-mail tynudad .com.ar

Website none

Mission Sratemmt (pleare 1x ar briefas parrible)
The mission of FUNGIR is to assist indimous communities and ar~nizations to channel
the concerns of tn2WjnaljZrd communities of the P'Icomago ~~=osienre_wa;s to ache a
sustainable fu= throuePhatterLrion m the foLawin¢issues : envicnnmc t~and biodiversitv
conservatson, sustain 1e economic development and institution- capacities for
re~Ctlhllg, local interests who are concerned that development is utdeed soci:allv and
ecolo&jllv sustainable.

Geographic region saved northern Arg+entiru= Chaco, Middle Pilcomayo river basin
Beneficiaries served IndiQenv Qus pgpples and biodiversitv of the Pilcomano river basin
list of contributing donors
1 . Brot fit die Welt (Bread for the Word - Pan Para el Mundo) $20,000 fbr complementary
     activities
2 Possible GTZ for complementary activities (small funds)
3. Small funds Eton private donors assisting wth basic core costs
4. In kind contributions from communities and their associations .
5. Leveraging EU Commission funds (20 million F        .uros) in more environmentally and
    socially sustainable direction.
               STATEMENT ATTACHED FOR FORM 990-PF

                       THE GARFIELD FOUNDATION

                       EIN # 22-2285358

                       FISCAL YEAR ENDING : NOVEMBER 30, 2003

Part VII-B :           Part VII-B: Statements Regarding Activities for Which Form 4720 May Be Required

  Line 5c:             Statement required by Regulations section 53.4945-5 (d)




     (I)               The name and address of the grantee:

                       CPI-Chaco
                       Los Tiluchis No. 2130
                       Santa Cruz,
                       Bolivia



     (II)              The date and the amount of the grant:

                       5/5/2003       $109,000


    (III)             The purpose of the grant

                      See statement attached


    (1V)              The amounts expended by the grantee( based upon the most recent report
                      received from the grantee).

                       $109,000.00


                      Whether the grantee has diverted any portion of the funds ( or the income therefrom
                      in the case of an endowment grant) from the purpose of the grant ( to the knowledge
                      of the grantor).

                      No

    (VI)              The dates of any reports received from the grantee.

                      None before 11/30/2003

   (VII)              The date and results of any verification of the grantee's reports undertaken pursuant
                      to and to the extent required under paragraph O(1) of this section by the grantor or by
                      others at the direction of the grantor.

                      None before 11/30/2003




      10/12/2004-cn
          MiE "                      'IELD ~" FOuI`IDA:TI4I`I

 Dear~BonifaGio Barrientes:
        The Garfield Foundation (the 'Foundation') has approved a, grant for CPI-Chaco
 (Commission of the Indigenous Peoples and Communities of the Bolivian Chaoo) for the
 project to Strongthen CPI-Chaco and its Component OrgantrMons to Bolster
 Indigenous Efforts to Conserve Biodiver*ity in the Gran Chsco.
CPI-Chew has been designated the recipient of the US $223,000 sward to be utilized
for the designated purpose between May 1, 2003 and April 30, 2006 .
Schedule of Payments and Reporta: An .initial payment of $109,000 will be-issued in May
2003 .
A second payment of $84,000 will be issued in May 2004 -upon receipt and review of the
following reports :
"   Midyear narrative report due by November 30, 2003
"   Year-to-date narrat:ive and financial reports due by April 30, 2004
A final payment of $30,000 will be issued in May 2005 upon jeoeip4 and review of the
following reports:
"   Mid-year narrative report due by November 30, 2004
"   Year-to-slate narrative and financial reports due by April 30, 2005
CPI-Chaco will furnish the following reports during year-three of the protect:
"   Mid-year narrative report due by November 30, 2005
    Year-end narrative and financial imports due by April 30, 2006
Financial reports will detail project expenditures in accordance with the budget outlined
in the attached proposal: All income for the projecf must also be reposed.
Narrative reports will describe the manner in which grant funds have been spent and the
progress made in accomplishing the purposes of the grant that will include reflective seff-
eviAluatiort, challenges met and hew the project outcomes have affected program
recipients .
Because CPI-Chew is a registered non-profit, non-govemmentel organization in Bolivia
but is not tecognked as a United States chahty under Section 501(c)(3) of the United
States Internal Revenue Code, the Foundation is requited to obtain your agreement to
the following terms to assure compliance with the internal Revenue Cede.

      CPI-Chew was created in 1997 and is operated exclusively for charitable [or
      educational] purposes. The activities of CPI-Chaoo as relevant to this grant
      include:
      "   Santa T recite (Ayoreo TCO) and TURUBO (Chiquitano federation of
          communities at northern edge of Chew) subprojects to better integrate them
          into CPI-Chew and strengthen their local capacity for environmental
          management;
      "   Meetings, ;workshops and trainings for the member organizations of CPI-
          Chaco Sudamerica;
      "   Establishment of north and south coordinators;


      3 Bnnnnans Roan " Mwon, MA 02738 " TEL: 508.7483199 " Fix: .308 .749 .1978

                                                                                    mi a7   bn *nnzitz/so
        "    Generate better commuication amongst remote areas linked to the new CPI-
             Chaco Sudamerica;
        "    Support for communication of issues and lessons teamed via newsmagazine
             Quebracho;
        "    Establish a GIS system linked with a central ipformation center,
             Develop case studies of impacts of oil and gas pipelines from indigenous
             perspective.
        "    Adaptively manage the project in response to the advice of the independent
             consultant supported under this agreement. ,

 2.    . API-Chaco has no shareholders or members who have a proprietary interest in its
         income and assets. In the event that CPIrChaco were to be liquidated or
         dissolved, under the laws and customs applicable, or under the governing
         instruments, all its assets would be distributed to another not-for-prafit
         organization for charitable, religious, scientific, literary' or educational purposes .
         CPI-Chow is not controlled by or operated in connection with any other "
         organization .

 3.     The laws and customs applicable to CPI=Ch'aco :
        a.   Do not permit it to engage ire activities that are not for religious,' charitable,
             scientific; literary or educational purposes drto attempt to influence legislation
             by propaganda or otherwise;
             Do not permit it directly or indirectly to participate or ihtervene in any poldipl
             campaign on behalf of, or in opposition to, any candidate for public office ; and
        c.   Do not permit any of its income or assets to be distributed to, or applied for
             the benefit of, a private person or non-charitable onganizatloh other than
             pursuant t0 the conduct of.CPl-Chaca's charitable activities, or as payment of '
             reasonable compensation for service rendered or a payment representing the
             fair market value of property which CPI-Chaoo has purchased.

 4.    The entire grant funds will be used for the. charitable 'purpose of enabling CPI-
       Chaco to complete the activities described in detail in the attached proposal. CPI- ,
       Chaoo will not use any portion of the giant. funds, including and interest earned
       thereon, for any other purpose without prior written approvgl by the Foundation .     '
       Please meter !n the at#edW proposal- for the details of activities and budget
       associated with this grant
5.     CPI-Chaoo will not use the: grant funds for any Ourpose that would be prohibitive
       were Wan American organization as described in section 501(c)(3) of the .Internal
       Revenue Code .                                             '

6.     CPI-Chow will repay any portion of the amount of the grant that is not used for
       the project in aocor0anoe with tie terms of this agreement.

7.     CPI-Chow agrees to supply the Foundation with such other information as may
       be necessary or. desirable to permit the Foundation 'to exercises its responsibility
       for the supervision of the ¢rant as required by the Internal Revenue Cods.




Grant Agreement Gwfleld Foundation 8 CPI-Chuo - May 1, 2003-April 30, 2006         Pipe T of 3

                                                                                        wa AZ to t00i/lZ/s0
 8.       A written instrument executed by both the Foundation and CPI-Chaoo may modify
          this agreement..

 9.       CPI-Chow agrees to maintain records of receipts and expenditures and to make
          its books and records available to the Foundation at reasonable times. _

 10.     CPI-Chow agrees not to use any portion of the grant
          a.   -To carry on propaganda, "or otherwise to attempt to influence legislation
               (within the meaning of section 4945(d)(1) of,the Internal Revenue Code of the
               United States);
         b.    To influence the outcome of any specific public election, or to cony on,
               directly or indirectly,-any voter registration drive (within the meaning of
               section 4945(d)(2) of the Internal Revenue Code of the United States) ;
         ~c.   To make any grant which does not Eomply with the requirements of section
               4945(4)(3) or (4) of the lntemal'Revenue Code of the United States;-or
         d.    To undertake any activity for any purpose other than one specified in section
               17(c)(2)(B)~


                                                  On behalf of.the Garl6Id Foundation
                                                                           .
                                                . Executive Director,~Jennip McCann

 Date:


 CPI-Chow (Commission of the Indigenous Peoples and Communities of the Bolivian
 Chaco) hereby agrees to the terms aid conditions of the grant as rocked above.

                                                On behalf of the CPI-Chaco
                                                Director, Bonifacio 8arrieiite-&--

 Date:               - 3




Grant Agresmwnt: Qarfleld Foundidon i CPI~Chaco - May 1, 2003-qpri130, 2006          Page 3 of 3

                 .                                                                        wa_Iz .so *oox/lt/so
                                    THE GARFIELD FOUNDATION

                                  3 Barnabas road, Marion, Ma 02738

                                                (508) 748-3199


 Organization : Fundacion Comision de Pueblos y Comunidades Indigcnas del Chaco Boliviano (CPI
 Chaco) (English - Commission of the Indigenous Peoples and Communities of the Bolivian Chaco

 Contact Person : Silvia Espinoza .


 Title: Administradora

                                                        6v1
 Address : Los Tiluchis No. 2130       5 ank+R- Crw z 1
                                   1

 Phone: 00591-3-3487588

 Fax: 00591-3-3487588

 E-mail : cpichaco@infonet .com.bo

 Website : None

 Mission Statement: CPI-Chaco's mission is to assist the indigenous peoples of the entire Bolivian Chaco
 ecoregion in: consolidation of indigenous territory, natural resource management, social justice, capacity-
 building, and sustainable development


Geographic region served : Chaco de Bolivia - three departamentos: Santa Crua,Chuquisaca y Tarija, (five
provincial y 116 municipios) and the Chaeo Sudamcricano including Argentina y Paraguay .

Beneficiaries s ewed : Pueblos y Comunidades indigenas Guarani - Tapiece - A yoreo - Weenhayek -
Chiquitano en Bolivia. 17 grupos ftnicos en Paraguay y 13 en Argentina.

List of contributing donors :

 1 . In idnci contributions from local communities and organizations .
 2 . Core support and funding for other ongoing activities of CPI-Chaco Is being provided by their
     longterm core donors Pan Para el Mundo (Bread for the World), GTZ (German Bilateral AID) and
     Misereor. For 2003, they have committed $120,000 dollars. Other funds are being raised for
     activities of CPI-Chaco Sudamerica.
3. Support far complementary activities at level of TURUHO (Chiquitanos) and Sta Terecita (Ayoreos)
     comes from small annual funds from trust fund from compensation for gas and oil ducts crossing
     indigenous territories. [Those funds cannot be used for organizational strengthening so this
     organizational strengthening will also make them better able to manage and monitor the use of these
     funds, as well as negotiate and manage the funds expected as compensation for the impacts of the
     new highway.]
4. CPI-Chaco has office in Sta Cruz, vehicle, radios, computers, etc. , also setting up office in
     Villamontes for CPI-Chaco Sudamerica. TURUBO has office and assembly meeting room in San


                                                                                             Rd ax to tooaiIaiso
              STATEMENT ATTACHED FOR FORM 990-PF

                       THE GARFIELD FOUNDATION

                        EIN # 22-2285358

                        FISCAL YEAR ENDING : NOVEMBER 30, 2003

Part VII-B:             Part VII-B: Statements Regarding Activities for Which Form 4720 May Be Required

  Line 5c:              Statement required by Regulations section 53.4945-5 (d)




      (I)              The name and address of the grantee:

                       CER-DET
                       Cassila de Coreos No 83C
                       Suipacha 290esq
                       Alejandro del Carpio, Tariija
                       Bolivia


     (II)              The date and the amount of the grant:

                       5/5/2003 - $51,000


     (III)             The purpose of the grant

                       See statement attached


    (IV)               The amounts expended by the grantee( based upon the most recent report
                       received from the grantee).

                       $51,000.00


                       Whether the grantee has diverted any portion of the funds ( or the income therefrom
                       In the case of an endowment grant) from the purpose of the grant ( to the knowledge
                       of the grantor) .

                       No

    (VI)               The dates of any reports received from the grantee.

                       None before 11/30/2003

   (VII)               The date and results of any verification of the grantee's reports undertaken pursuant
                       to and to the extent required under paragraph @(1) of this section by the grantor or by
                       others at the direction of the grantor.

                       None before 11/30/2003




       10/12/2004-cn
              THE "                       IELD # P`OLJI`IDA.TIOI`I

     Dear Miguel Castro :
        The Garfield~ Foundation (the "Foundation") has approved a grant for CER-DET
 (Center for Regional Studies ,far the Development of Tarija) for , the project
 Envlronmentai Impact Monitoring System for Activities of Oil and Gas Companies
 in the Chaco of TariJa Department in the Upper Piicomayo Basin. The project will
 influence law enforcement and oil company behavior by mobilizing the voice of
 indigenous communities affected by oil and gas extraction activities .
 CER-DEt has been designated the recipient of the US $51,000 award to be utilized for
 the designated purpose between May 4, 2003 and June 30, 2004.
 Because CER-DET is a registered non-profit, non-governmental organization in Bolivia
 but is not recognized as a United States charity under Section 501Qc)(3) of the United
 States Internal Revenue Code, the Foundation is required to obtain your agreement to
 the following terms to assure compliance With the Internal Revenue Code.

 1.       CER-DET was created in 1989 and is operated exclusively for charitable [or
          educational] purposes. The activities of CER-DET have included : (1) monitoring
          the health of the Pilcomayo River for Chaco communities; (2) working with
          indigenous communities (Tapiete; Weenhayek and Guarani) on biodiversity and
          natural resource management and (3) implementing 'gender programs such as
          crafts production and the management of natural resources needed for crafts and,
          women's participation in political life.
          This grant will include the following activities:   .
          "   Training people in Tapiete, Guafani, and-Weenhayek Indigenous communities
              in the upper Pilcomayo to compile Information and to monitor the~actiq(ties and
              impacts of oil and gas pipelines and projects in their territories;
          "   Raise public awareness of the impacts ;
          "   Share negotiation skills and experiences with other communities and NGO's;
          "   Advocate at national and international levels.

2.       CER-DET has no shareholders or members who have a proprietary interest in its
         income and assets . In 'the event that CER-DET were to be liquidated or
         dissolved, under the laws and customs applicable, or under the governing
         instruments, all its assets would be distributed to another not-for-profit
         organization for charitable, religious, s aentific, l iterary ar educational purposes .
         CER-DEf is not controlled by or operated in connection with any other
         organization .

3.       The laws and customs applicable to CER-DET:
         a.   Do not permit it to engage in activities that are, not for religious, charitable,
              scientific, literary or educational purposes or to attempt to influence legislation
              by propaganda, or otherwise;                           '   ,
         b.   Do not permit it directly or indirectly to participate or intervene in any political
              campaign on behalf of, or in opposition to, any candidate four public office; and



        3 BARI'fABAB ROAD " MAtuon, MA 02738 " '1PL: 508 .788 .3199 " FAX: SAB"y48 .1976
        c.    Do not permit any of its income or assets to be distributed to, or applied for
              the benefit of, a private person or non-charitable organization other than
              pursuant to the conduct of CER-DET's charitable activities, or as payment of
              reasonable compensation for service rendered or a payment representing the
              fair market value of property which CER-DET has purchased.

 4.     The entire grant funds will be used for the charitable' purpose; of enabling CER-
        DET to complete the aGtivitjes described in detail in the attached proposal.. CER-
        DET will not use anX portion of the grant funds, including any irttprest earned
        thereon, for any other purpose without prior Written approval by, the Foundation .
        Please . refer to the attached proposal for the details of activities associated with
        this grant.

 5.     CER-DET will not use the grant funds for any purpose that would be prohibitive
        were it an American organization as described in section 501(c)(3) of the Internal
        Revenue Code.               '-

 6.     CER-DET will repay any portion of the amount of-the grant that is not used for the
        project in accordance with the terms of this agreement.

 7.     CER-DET will use the grant funds as outlined in the attached proposal. CER-DET
        will provide the following narrative progress reports:
             Mid-year due by November 30, 2003
             Year-end due by July 31, 2004 .
        Narrative reports should highlight the progress made in accomplishing the
        purposes of the grant and should include reflective self-evaluation, challenges
        met and how the project outcomes have effected program recipients .

8.-     CERDET will furnish a year=end financial report by July 31, 2004 detailing project
        expenditures in accordance with the budget outlined in the attached proposal. All
        income for the project must also be reported.

9.     CER-DET agrees to supply the Foundation with such other infurmption as may be
       necessary or desirable to permit the Foundation .to exercise its responsibility for
       the supervision of the grant as required by the Internal Revenue Code.

10 .   A written instrument executed by both the Foundation and CEIR-DET may modify
       this agreement.

11 .   CER-Dl=T ag(ees to maintain records of receipts and expenditures and to make
       its books and records available to the Foundation at reasonable) times.

12 .   CER-DET agrees not to use any portion of the grant:
       a.    To carry on propaganda, or otherwise to attempt to influence legislation
             (vuithin the meaning of section 4945(dx1) of, the Internal Revenue Code of the
             United States) ;




Grant Agreement: Garfleld Foundation 3 CER-0ET - May 1, 2003,Jurta 30, 2004      Papa 2 of 3
                                                                                     Nd 23 to tooxitxiso
         b.   To influence the outcome of any specific public election, or to carry on,
              directly or indirectly, any voter registration drive (within the meaning of
              section 4945(d)(2)'of the Internal Revenue Code of the United States);
        c.    To make any grant which does not comply with the requirements of section
              4945(d)(3) or (4) of the Internal Revenue Code of the United States ; or
        d.    Td undertake any activity for any purpose other than one specified in section
              17(c)(2)(B)-


                                   .               On behalf of the Garfield Foundation
                                                   Executive Director, JennieMcCann

 Date: ~             rho                                            ` f~~2
                                                    U
 CER-DET hereby agrees to the terms and conditions of the grant as recited above . ,

                                               On behalf of the CER-DE:T
                                               'Executive Director, MigUel Castro

 Date : 21 p~ril cG ,2003                                      ~---J                 .




                 .                             1




Grant Aproement: Garfleid Foundation & CER-DET-May 1, Z003.luna 30, 20Q4         Page 3 of 3
                                                                                     Ad of +o too :i1aieo
                             THE GARFIELD FOUNDATION
                         3 BARvAW ROAD, MARION, MA 02738
                                  (508) 748-3199

                           Cover Sheet for Grant Applications

 To enrrrnfunhtrprocxrri~r~q of your otgvmZadion'rgwt 4blication; please rtitunr tbi! coVlder! Cow Sheet
 to the Gmfield Forrndadion office. The Gmfield Fornndaoion tncouragrr that Coca SfaseAr be rrrbrnitted ma e-
 mail to. inquiryQxfte1dJoaxdation.mg

 Organization rER.-DET ((.entro de Estudios Reeio nales Fara el Dzarrollo de Tariia
                                                  ~
 XNGLi4H -Center for Regjonal Studies forlfie Development of Tariial
 Contact Person Migtiel Castro
 Tide Executive Direct
Address SasaiL de Goreos No. 83, C / Suipacha 290 esq.Al_eian o del (~i0, Tari0,
Bolivia
 Phone 00-591-466-35471
Fax 00-591-466-33354
E-mail pilcomay         .cosett.com.bo
Websitc none
Mission Statement (plearr be ar lmsfar porrible)
The Mission of CLR-DET is to accompany the oreanizations and indigenoUS families in
Tnia doarr**,Pnr in SW Chaco of Bolivia to facilitate their internal streng%bening and eco-
political empowecment at local and =eiQnal levels CEit-DET schwas its obiecriyes thru
                                    . .      . .                               ..


without     y discrimination for political, ideological or religious reasons.


Geographic region awed Tacija Dept, Bolivia in SW Chaco along Upper Pilcomayo
Beneficiaries Bti'VCd Itldtartt_OlS co mmunities (i, TV1tP,f We~CI1.h

List of contributing donors
Contributing Donors
0 CER-DET receives its core support and support for ongoing activities from a number of
donors, including
V E U and Spanish bilateral aid for other activities
0 .'ldisereor and Solidaridad Orlanda support a small emergency fund for immediate
problems
 " In kind contributions from communities




                                                                                                    Nd 83 to tooaiIaiso
              STATEMENT ATTACHED FOR FORM 990-PF

                        THE GARFIELD FOUNDATION

                        EIN # 22-2285358

                        FISCAL YEAR ENDING : NOVEMBER 30, 2003

Part VII-B:             Part VII-B: Statements Regarding Activities for Which Form 4720 May Be Required

  Line Sc :             Statement required by Regulations section 53 .4945-5 (d)




     (I)                The name and address of the grantee :

                       Center for the Development of Indigenous Amazonia (CEDIA)
                       Lelis River Chavez
                       General Director
                       Pasaje Bonifacio No 166
                       Urbanisation los Rosales de Santa Rosa
                       La Perla - Callao, Peru

     (II)              The date and the amount of the grant:

                        11/26/2003 - $ 75,000 .00

                       The purpose of the grant
    (III)
                       See statement attached


                       The amounts expended by the grantee( based upon the most recent report
    (IV)               received from the grantee) .

                       $75,000.00


                       Whether the grantee has diverted any portion of the funds ( or the Income therefrom
                       (n the case of an endowment grant) from the purpose of the grant ( to the knowledge
                       of the grantor) .

                       No

                       The dates of any reports received from the grantee .
   M)
                       None before 11/30/03

                       The date and results of any verification of the grantee's reports undertaken pursuant
   (VII)               to and to the extent required under paragraph O(1) of this section by the grantor or by
                       others at the direction of the grantor.

                       None before 11/30/2003




       10/12/2004-cn
                          GARFIELD FOUNDATION GRANT AGREEMENT
                               FOR INTERNATIONAL RECIPIENTS

     Grant Awarded to: Center for the Development of Indigenous Amazonia (CFDIA)
     Address :             Pasaje Bonifacio No 1Q6 ~         .
                           Urbanisac;on los Rosales de Santa Rosa
                           La Perla - Caifao, Peru
     Phone :     '        +51420 4340 457 5761
     Grant Amount:          75,000
  Project:                To strengthen CEDIA's institutional capacity allowing it take on
                          more integrated programming combining land tibing with
                          conservation management and community development.
  Grant Period:           June 2002 -.May 2003

  Dear Dr. Lelis Rivera Chavez
         The Garfield -Foundation (the °Foundationj is pleased to inform you that its
 8oaid has approved a grant for the Center for the Development of Indigenous
 Amazonia. (CEDIA). to strengthen its institutional capac;ty allowing it to take. on more
 integrated programming combining land tilting witty conservation management and
 community development CEDIA has been designated the recipient of the,US 575,000
 award ~to be utilized for the designated purpose between 1 June 2402 to 31 May 2003:
 An initial payment of $40,000 will be issued . The second"paymenf of $35,000 will be
 issued in November 2002 pending the review of a mid-year report.          . . ' ,
 Because CEDIA is a registered a non-profit, non-governmental organization .in Peru but
 is not recognized as a United States charity under Section 509(c)(3) of the United
 States Internal Revenue Code, the Foundation is required to- obtain your agreement to
 the following farms to assure compliance with the Internal Revenue Code.
 1.~     CEDIAcertifies that it is organized and operated in a manner analogous to a
         United States organization described in Section S01(c)(3) of the Internal Revenue
         Code and that it is independent of any governmental entity,
 2.       The entire grant funds will be used for the charitable'purpose of enabling CEDIA
         to strengthen Its institutional capacity by expanding' its collaborations, increasing
         tie skill' of its professional staff, participating in NGO" agendu governmental
         coordination committees and liaising with potential. funding institutions . CEDIA
         will not use any portion of the grant funds, including any interest earned thereon,
         for any outer purpose without prior written approval by the Foundation . ,
        See . altacbed proposal and supplemental infomration for specific project
        detour                            -                                       .
3.      CEDW will not use the grant funds for any purpose that would be prohibitive were
        it an American ~ organizations as described in -section . 501(c)(3) of the internal
        revenge code.       .


Car6dd Fouadrtioa - International Grant Agreement, CEDIA; Jnrae ?001                3
                                                                        i



      4.      CEDIA will furnish an annual financial report in June 2003 detailing project
              expenditures in ac--ardance with the budget outlined in the attached proposal .
              Should any expenditure exceed 10% of the requested line item, CcDIA will
              request budget, revisions in writing and procure agreement before booking the
              new expenses .
      5.      CEDIA will repay any pcrtion or the grant that is not use `cr the project in
              acCordanc~~ with the terms of this agreement.
'     8.      CEDIA will provide a final narrative report in June 2003 that includes reflective
              self-evaluation, challenges , met and how the project outcome has affected ,
              program recipients . A less formal narrative mid-year progress report will also be
              submitted in Novembet 2002.
      7.      CEDIA agrees to supply the Foundation with such other information as may be
              necessary or desirable to permit the Foundation to exercises its re!gponsibility for
              the supervision of the grant as required 5y the Internal Revenue Code.
      8.      A written instrument executed by bath the Foundation and Cf:DIA may modify this
              agreement                                              .

                                                   On .behalf of the Garfield Foundation
                                                   Program Director, Jennie McCann

      Date:     11                                      tl./_<~
                                                       U - 'n r Y --//l -


     CEDIA hereby agrees to the terms and conditions of the grant as recited above .


                                  '               On behalf of the CaneJ fa(r ~h~a Development
                                                  of Indigenous A(m~o JiBCE~W)
                                      .           Genera(. Director, Or. L;lis IRiv,~r Chavez        .

     Date: 240




    Csr6dd Foaadsooa - Internadoaal Great Agreement, CEDG1 Jurir 2002                     4
              STATEMENT ATTACHED FOR FORM 990-PF

                        THE GARFIELD FOUNDATION

                        EIN # 22-2285358

                        FISCAL YEAR ENDING : NOVEMBER 30, 2003

Part VII-B:             Part VII-B: Statements Regarding Activities for Which Form 4720 May Be Required

 Line 5c :              Statement required by Regulations section 53 .4945-5 (d)




     (I)               The name and address of the grantee:

                       Fundation Yangareko
                       Alejo Zarzycki Orlow
                       Executive Director
                       Casilla de Correos, No 3063
                       Santa Cruz, Bolivia


    (II)               The date and the amount of the grant:

                       08/06/2003 - $ 20,000 .00

                       11/12/2003 - $ 54,000 .00

    (III)              The purpose of the grant

                       See statement attached



   (1V)                The amounts expended by the grantee( based upon the most recent report
                       received from the grantee) .

                       None before 11/30/2003


                       Whether the grantee has diverted any portion of the funds ( or the Income therefrom
                       in the case of an endowment grant) from the purpose of the grant ( to the knowledge
                       of the grantor).

                       No

   (VI)                The dates of any reports received from the grantee.

                       None before 11/30/2003

   (VII)               The date and results of any verification of the grantee's reports undertaken pursuant
                       to and to the extent required under paragraph @(1) of this section by the grantor or by
                       others at the direction of the grantor.

                       None before 11/30/2003




       10/12/2004-cn
                  THE # GARFIELD " FOi,Ji`iDA'TION


          Dear Atejo Zaryckr Orfow:

          Tire Garfield Foundation ( ;he "Foundation") has approved a grant for Furdac:cn
          Yangarelco for the project, Community-based Biodiversity Protection and
          Ecologically Sustainable Land Use - Parapeti Watershed. The project will
          work with Gran Chaca communities and munic:Fio'governments in remote areas
          of the Upper and Middle Parapet Watershed to develop - and implement
          sustainable lard use practices and plans to conserve biodivefsiry in several
          different ecasyste= of the Cran Chow and to ultimately sustain the integeity of
          Kaa lya National Park . Fundacion Yanqarelco has been designated the recipient
          of a US $271,000 award for the designated purpose between December 2002
          and November 2004 .
        ' Schedule of Payments : An initial payment of $163,000 will be issued in
          November 2002. A second payment of $54,000 will be issued in November 2003
          upon receipt and. review of the following . reports : a mid-year narrative report due
          June 2003 and year-to-dale narrative and financ;al reports dun in October 2 03.
          A final payment of $4,000 will be issued in May 2004 upon receipt and review of
      . ~a narrative report due +n April 2004.
         Because Fundauon Yangareko is a registered non-profit, ' anon-governmental
       . organization in Bolivia but is not reccgnized as a United States charity .under
. -      Section 501(c)(3) of the United States Internal Revenue Code, the Foundation is
         required to obtain your agreement to the following terms to .assure compliance
         with the Internal Revenue Code.
         1,   . Fundaci6n Yangareko was created in 2001 and,is operated exclusively for
                charitable purposes. The' acctivities of Fundaci6n Yangare9CO have included
                conserving protected areas, indigenous territories, and associated
                watersheds in the Gran Chaco of Santa Cruz and Chuquisaca, where
                biodiversity and livelihoods are threatened by inappropriate development
.'             and land use, and will include participatory diagnosis and capacity building
               for local communities and government ; promotion of Iota) governr'nent and
               national agency collaborabon with local communities; participatory land use
               planning to improve land and forest management; monitoring of
               environmental impacts; biodiversity inventories; and demonstration plots
              .linking new and traditional knowledge of biodiversity through collaborative
               development of ecologically-sustainable agricultural and fiorestry practices
              that support sustainable focal enterprises .
              Fundaci6n Yangareko has . no shareholders or members who have a
              proprietary interest in its income and assets. 1n the event that Fundaci6n
              Yangareko were to be liquidated or dissolved, under the (awe and customs
              applicable, or under the governing instruments, all its assets would be
              disfibuted to another not-for-profit organization fir charitable, religious,



              3 gnpnqw RpAD " Mra10n, MA 02736 4 TeL: 308 .748 .3199 0 f'AC : 508" '148 .1975
                         scientific, literary or educational purposes. Fundacabn Yangareko is not
                         controlled by or operated in connection with any other organization .

                         The laws and customs apolicaole to Fundacion Yangareko :
                         a.   Do not permit it to engage in activities that are not for religions,
                              charitable, scientific, literary or educational purposes or to attempt to
                              influence legislation by propaganda or otherwise ;
                         b.   Do not permit it directly or indirectly to participate or intervene in any
                              political campaign on behalf of, -or in opposition to, any candidate for
                              public office ; and   .        '.
                         c.   Do not permit any of its income or assets to be: distributed to, or
                              applied for the . benefit cf, a private person or non-charitable
                              organization, other than : . .
                                 1 . Fundacion Yang afelco's"charitable ac;ivibes;
                                 2. Payment of reasonable compensation for services rendered ;
                                     and,               . ,
                                ~3 . Payment for goads and property representing fair market value
    .            _ ,                 of such goods or property .
            2.          The entire grant funds'will~ be used far the charitable purpose and activities
                        as described in detail in the attached proposal . Fundacion Yangareko will
                       .not use any portion of, the grant funds, including any interest earned
.                       thereon, for any other purpose without prior written approval .by the
                        Foundation . .                                                    '
            3. .        Fundacion Yangareko will not use the grant funds for any purpose that
        .               would be. prohibitive were       an American organization as described in
                        section 501(c)(3) of the Internal Revenue.Code.
        4.              FundaGion Yarigareko~will repay any portion of the amount of the granrt that
                        is not used fir the project in accordance with the terms of this agreement
        5.             ~Fundacibn Yangareko wi11 use the grant funds as oubined in .the attached
                       proposal . Ftindacibn Yangareko will furnish a year-to-date financial report
                       in October 2003, and a final financial report in December. 2004 detailing
                       project expenditures in accordance with the budget outlined in the attached
                       proposal .                                                                   ,
        B.              Fundaabn Yangareko will provide narrative reports in October 2003 and at
                       the conclusion of the grant irr Oecember 2004 describing the manner in
                       which -grant funds have been spent' and the ' progress made' in
                       accomplishing the purposes of the grant that will include! reflective self-
                       evaluation, challenges met and how the project outcomes have afl!ected
                       program recipients . Less formal narrative mid-year progress reports will
                       also be' submitted in June 2003 and in April 2004 .




    Gnnt'11qre@mid: Garfield Foundation i Fundaei6n Yanganko - Die 2002-Nov 2004           Page 2 of 3
       7.        Fundaci6n Yangareko agrees to supply the Foundation with such other
                 information as may be necessary or desirable to permit the Foundation to
                 exercise its responsibility for the supervision of the grant as required 5y the
                 internal Revenue Code.
       8.        A written instrument executed by bcth the Foundation and Fundacicn
                 Yangareko may modify. this agreement
      9.         Fundaci6n Yangareko ~ agrees to maintain records of receipts and
                 expenditures of the grant funds and to make its books and records
                 available to the Foundation at seasonable times .
      10.        Fundaci6n Yangareko agrees not to use any portion of the grant.
                 a. To carry cn propaganda, or ctherwise to attempt to influence
                    legislation (within the meaning of secticn 4945(d)(1) of the Internal
                    Revenue Code of the United States) ;
                 b.       To influence the outcome of any specific public election, or to carry on,
                          directly or indirectly, any voter registration drive (within the meaning of
                          section 4945(d)(2) of the Internal RevenueCode of the United States) ;
                          To make any grant which does not comp(y,with the requirements of
                          section 4945(d)(3), or (4) of the Internal Revenue Code of the United
                          States ; or
             d.           To undertake any activity far any purpose other than one specified in
                          section 170(c)(2)(8) of the Internal Revenue Code- of the United
.                         States .


                                                         On behalf of the Garfietd Fvundatton
                      .              .   ~               Program Director, Jenrrie M.cCann

     Date: 6 November. 2002
             -                                                      . .   l

     Fundaci6n Yangareko hereby agrees to the terms and conditions of the grant as
     reFited above.

                                                 '      On behalf of the Fundaci6n Ya*ngareko


    Date: 077




    Grant 11ynwnint: Garfwld Foundation 3 Fundaci6n Yanganko - Dec 2002-Nov 2004         Page 3 of 3
              STATEMENT ATTACHED FOR FORM 990-PF

                       THE GARFIELD FOUNDATION

                       EIN # 22-2285358

                       FISCAL YEAR ENDING : NOVEMBER 30, 2003

Part VII-B:            Part VII-B : Statements Regarding Activities for Which Form 4720 May Be: Required

   Line Sc:            Statement required by Regulations section 53 .4945-5 (d)




      (I)             The name and address of the grantee :

                      Shinai Serjali
                      Jr. Daniel Carrion 748
                      Magdalena del Mar
                      Lima



      (II)            The date and the amount of the grant:

                      7/30/2003             $15,000


     (III)            The purpose of the grant

                      See statement attached


     (11n             The amounts expended by the grantee( based upon the most recent report
                      received from the grantee).

                             $15,000 .00


     (1)              Whether the grantee has diverted any portion of the funds ( or the Income therefrom
                      In the case of an endowment grant) from the purpose of the grant ( to the knowledge
                      of the grantor).

                      No

     (VI)             The dates of any reports received from the grantee .

                      None before 11/30/2003

    (VII)             The date and results of any verification of the grantee's reports undertaken pursuant
                      to and to the extent required under paragraph O(1) of this section by the grantor or by
                      others at the direction of the grantor.

                      None before 11/30/2003




      10/12/2004-cn
Dear Gregor MacLennan :
        The Gafield Foundation (the `Foundation') has approved a grant for Shinai
Serjali fo'r the project - Re-evalusdon and Strengthening o! the Kugapskori Nahua
Reserve: Territorial Security and' Rasped for the Rights of Indigenous Peoples
Living in Isolation in Ama:onlan Penn.
Shinai Serjati his been designated the recipient of floe US $15,000 award to be utilized
for the designated purpose between June 1, 2003 and May 31, 2004.

Schedule of Reports
" Year-one semi-annual narrative report due by December 31, 2003
   Year-end narrative and'flnancial reports due by Jung 30, 2004
Financial reports will detail project expenditures in accordance with tie budget outlined
in the attached proposal . All income for the project must also be reported.
Narrative imports gill describe the manner in which grant funds have been spent aid the
progress made M accomplishing' the purposes of the grant that will include reflective
evaluation, challenges met and how the project outcomes have affected -program
beneficiaries .                                                                 '

Because ShinaF Serjali is a registered non-profit, nor-governmental organization in Peru
but is not recognized as- a United States charity under Section 501(c)(3) of the United
States Internal Revenue Code, the Fopndation is required to obtain your agreement to
the following terms to assure compliance with the Internal Revenue Code .

1.    Shinai SeIJalF was anted in 2002, and is operated exclusively for charitable ,(or
      educational purposes. The activities of Shinai SerJali as reletiant 'to this grant
      include :
      " Establish a Steering Committee comprised of national'and regional indigenous
        representatives and NGOs specializing ir1 indigenous righb; and community
        mapping projects to coordinate the overall process ; appoint field and legal
        task forces; develop strategies to establish national policies guaranteeing the
        security and rights of indigenous peqples living in voluntary isolation; and
        advocate with relevant government authorities to secure their commitments to
       adopt recommendations.
     " Establish a 'Field Task Force comprised of individuals and organizations with
       experience working with the Reserve's' inhabitants to gain a thorough
       understanding of the territories and resource use of the inhabitants, and to
       ensue that the inhabitants are inducted 'and copsutted at every stage of the
       evaluation,
     " Establish a Legal Task Force comprised of'lawyers with extensive experience
       in indigenous rights in Peru to develop political and legal strategies, for
       strengthening the Reserve.
     " Design a workshop that will bring together government decision-makers,
       indigenous peoples representatives, neighboring Indigenous communities and
       other local actors to discuss solutions for the long- and short-term threats to
       indigenous rights and biodiversity in the Kugapakori Nahus Reserve. The
             workshop will be designed to allow the indigenous inhabitants of the Reserve
             the opportunity to present .their recommendations for improving their territorial
             security.

 2.     Shinai Serjali has no shareholders or members who have~a proprietary interest in
        its income and assets. In the event that ~ Slvnai SerJali were to be liquidated or
        dissolved, under the laws . and' customs applicable, or under the governing
        instruments, all its assets would be distributed to another . not-for-profd
        organization for charitable, religious, scientific, literary or educational purposes.
        Shinai Serjali is not controlled by or operated in connection with any otter
        organization .

 3.     Thelaws and customs applicable-to Shinaf Serjali :
        a.     Do not permit it to engage in activities that are not for religious, charitable,
             . scientific, literary or'educationel purposes or to attempt to influence legislation
               by prppaganda or otherwise;
        b.   Do not permit it directly or indirectly to participate or intervene in any political
             campaign on behalf of, or in opposition to, any candidate for public office; and
       c. , Do not permit any at its income or assets to be distributed to, or applied for
            the -benefit bf, a private perspn or non-charitable organization other than
            pursuant to the conduct of Shinai Serjali's charitable activities, or as payment
            of reasonable compensation for service 'rendered or a payment representing
            the fair market value of property which Shinai Selali has purchased .

 4.     The entire grant funds will be used for the charitable purpose o1~ enabling Shinai
      . Serjali to complete the activities described' in detail ' in the attached proposal.
        Shirtai SeRall will rat use any portion of the grant'funds, inducting any interest
        earned ~ thereon, for any other purpose without prior written approval by the
        Foundation.
       Please rafor td the attached proposal for' the details of projW1 activities and
       budget associated with this grant.
5.       Shinai Selali will got use the grant funds for any purpose that would be prohibitive
       ' were it an American organization as described in section 501(c)(3) of the Internal
         Revenue Code.

8.     Shinai Serja(i will spay any portion of the amount of the grant that is not used br
       the project in accordance with the terms of this agreement .

7.     Shinai Serjali agrees to supply the Foundation with such other information as may
       be necessary or desirable to permit the Foundation to exercise its responsibility
       for the supervision of the grant as required by the Internal Revenue Code.

8.     A written instrument executed by both the' Foundation and Shinai Sedali may
       modify this agreement.


Grant Agreement: Garfteld Foundation b Shlnal Sedall - AUgust 1, 2003 - July . 31, 2004

                                          Page Zof3
     9.     Shinai Sedali agrees to maintain records of receipts and expenditures and to
            make its books a6d records available to the Foundation at reasonable times.

     10.    Shinai Serjali ages not to use any portion of the grant
            a.      To carry, on propaganda, or othprvvise to attempt to influence legislation
                    (within the meaning of section 4945(d)(1) of the Internal Revenue Code of the
                    United States) ;
            b.      To influence the outcome of any specific public election, or, to carry on,
'                   directly on indirectly, any voter registration drive (within the meaning of
                    section 4945(d)(2) of the. Internal, Revenue Cade.of the United States) ;
            c.     To make any grant which does not comply with the requirements of section
             .     4945(d)(3) or (4) of the . Internal Revenue Code of the United States ; or
            d.     To undertake any activity for any purpose ather than one specified in section
                   17~~)~2~~8~


                                                    On behalf of the Garfield Foundation
                                                    Executive Director, Jennie McCann

     Date :.-~'                                                      R-


    Shinai Serjali hereby agrees to the terms and conditions of the grant as recited above :

                                                    On behalf of the Shinai Serjali
                                                    Director, rye r     cLen,,an

    Date:
                  .1   V




    Grant Agreement: Garflsld Foundation 3 Shlnai Sedall - August 1, 2003 -,July 31, 2004

                                              Page 3 of 3      '
                            THE GARFIELD FOUNDATION
                         3 BAxruam Roan, MAMox, MA 02738
                                   (508) 748-3199

                           Cover Sheet for Grant Applications

To arrunfintbarpmcunrrg ofyorrr orgQrriZrttion't grant applicak'oa, please relrirn thit tonrp!eted C.orrr Sheet
lu !he C,'~eld 1'n» ndakon office The Gxfield Foundahon errcorrnger that Coarr Sherts br rubmittad ua t-
ni,allo: iRyrary(c4)aq%ldfoandalion . og

Organization hi
Contact Person G,reoor MacLennan
Title
Address Jr. Daniel Carrion 748, M_Uecialena del Mac. Lima
Phone +51 1 460 9195
Fax +51 1 460 9195
E-mail sedaliQedal'
Website htro ://warw.serj i.orgL
Mission Statement (bleare be at briefar parible)
Shinai Seriab ~s grass-roots oreanisation that supports indigenous gjeoFle:s in
the rainforests of South Lust Peru ( h~ o are, dealiagwith the rapid social 3ild
environmental c:h~na+es associated with their fast direct interactions with national
society. We also work to safePVard the interests of those currendy avoiding am
such interaction.
We aim to ensure that these peoples have the space and security to n       ti:ite
these chfees in their own time and on their own terms. Through cant
building we will help them to make informed and independent decisions abyt
their future without undermining                              ,generations
                                 ,the Qp,pqrtunity of funs to retain
the Values. langand environment of their people.

Geographic region served S.E Peruvian Amazon
Beneficiaries served Nahu& Nanti,,Matsiaaka and as yet unknown indigenougMu_o_s
List of contributing donors
1 . Garfield Foundation
2. Rainforest Foundation US
3. IUCN Netherlands Committee
4. Ox-an America
7. Nouvelle Plenette
  THE GARFIELD FOUNDATION                                                                                     CONTINUATION FOR 990-PF,                           PART IV
  C/O BEHAN LING & RUTA CPA'S,                                              P .C .                            22-2285358        PAGE                             1 OF  1
    Pad IV j Capital Gains and Losses for lax on Investment Income
                                                                                                                         (b , How acquired (c Date acquired      (d) Date sold
                                (a) List and describe the kind(s) of property sold, e g , real estate,                      P - Purchase
                                  2-story brick warehouse, or common stock, 200 shs MLC Co                                                   ~mo ,day, yr)       (mo ,day, yr )
                                                                                                                             D - Donation
   is LITIGATION                      SETTLEMENT                                                                                 P         VARIOUS              VARIOUS
    b      SEE STATEMENT ATTACHED A                                                                                              P         VARIOUS              VARIOUS
    c      CASH IN LIEU                                                                                                          P         VARIOUS              VARIOUS
    d      SEE STATEMENT ATTACHED B                                                                                              P         VARIOUS              VARIOUS
    e      SEE STATEMENT ATTACHED B                                                                                              P         VARIOUS              VARIOUS
    f      SEE STATEMENT ATTACHED C                                                                                              P         VARIOUS              VARIOUS
    g      SEE STATEMENT ATTACHED C                                                                                              P         VARIOUS              VARIOUS
    h      ALLIANCE CAPITAL MANAGEMENT HOLDING                                                                                   P         VARIOUS              VARIOUS
     i     ALLIANCE CAPITAL MANAGEMENT HOLDING                                                                                   P         VARIOUS              VARIOUS
           DIVIDENDS                                                                                                             P         VARIOUS              VARIOUS
       k



       n

                                                  (f) Depreciation allowed         I       (g) Cost or other basis                      (h) Gain or (loss)
              (e) Gross sales price                     (or allowable)                      plus expense of sale                      (e) plus (f) minus (g)

                       22,772             .                                                                                                                22,772 .
   n                3,859,591             .                                                        5,300,525 .                                         <1,440,934 . >
                           20             .                                                                                                                    20 .
   d                7,034,780             .                                                        6,968,987         .                                     65,793 .
                    7,332,851             .                                                        7,442,799         .                                         <109,948 . >
   t                1,773,415             .                                                        1,872,610         .                                          <99,195           .>
                    3,277,269             .                                                        3,561,189         .                                         <283,920           .>
                           32             .                                                                                                                          32           .
                          344             .                                                                                                                         344           .
   i                    8,980             .                                                                                                                       8,980           .
   k


   n

           Complete only for assets                 m column (h) and owned by the foundation on 12/31/69                             (I) Losses (from col (h))
                                                                                                                           Gain :, (excess of col (h) gain over col (k),
                                                      (j) Adjusted basis                     (k) Excess of col (i)
            (i) F M V as of 12/31/69                    as of 12/31/69                        over col (1), if any                     but not less than "-o-')

                                                                                                                                                           22,772 .
   b                                                                                                                                                   <1,440,934 . >
                                                                                                                                                               20 .
   d                                                                                                                                                             65,793 .
                                                                                                                                                               <109,948 . >
                                                                                                                                                                <99,195 . >
                                                                                                                                                               <283,920 . >
   h                                                                                                                                                                   32 .
                                                                                                                                                                     :344 .
                                                                                                                                                                  8, 9 80 .


   m
   n


                                                                It ain, also enter in Part I, line 7
  2 Capital gain net income or ( net capital loss)
            9                                    )            ~ If loss), enter "-0=" in Part I, line 7                                                <1,836,056 .>
  3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6)
    If gam, also enter in Part I, line 8, column (c)
    If (loss), enter "-0= m Part I, line 8                                                                                                        N/A

  223591
  05-01-02
                                                                                    15
18041012            756258 GFDN                                        2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                                                          1
luiUBlluu4 YKl y :34 FAA 508 748 Ub15 BaldwiA Brothers +i-) Bu                                                                   10091036



                                                                              S-TMT
                                                             Baldwin Brothers, Inc.
                                               REALIZED GAINS AND LOSSES
                                                         Garfield Foundation/F
                                                                140688805
                                                       From 11-0l-01 Through II-30-03

                                                                                                                Gain Or Loss
           Open        Close                                              Cost
           Date        Date      Quantity _      .,   Security            Basis           Proceeds         Short Term . Long Term .

         01-01-M      12-18-02            21 GNMA X257566                        20 .57           20 .57                         0.00
                                              10.000% Due 03-1&19
         063M           12-16-01       6,742 GNMA Assn Mg PI                 6,623.03         6,742.07                         119.04
                                              7.000% Due 01528
         01-0160       01-14-03        4,442 GNMA#257568                     4,441 .78        4.441 .59                         -0 .18
                                                           .
                                              10.000% Due 0'15-19
         06,89         01-1403       44,015 GNMA Assn Mtg R                 43,23B.OQ        44,015 .14                        777.14
                                              7,000'6 Due OCr15-29
         01-01-60      02-17-03                        .
                                          12 GNMA it2' i7568                    11 .73            11 .73                         0.00
                                              10.000'6 Due 03-1x19
         06,'iQ99      02-17-00        7,669 GNMA Ann Mtg PI                 7,533.37         7.668 .77                        135.40
                                              7.000% Due S15-29
         06.30A9       03 .17-03        414 GNMp Assn ktg P1                   406.21           41351                            730
                                              7.000% Due 06-15-29
         01-01-60      03.17-03           12 GNMA ti2257566                     11 .83           11,63                           0.00
                                              10.000!6 Due 03-1519
         11-27-00      04-14-03       6,000 Tyco International smiled     333,675.00         81,236 .18                   -252,438.82
         01-01-60      04-1503            12 GNMA057588                        11 .94            11 .94                          0.00
                                              10.000`K Due 03-15-19
        0630.99        0415-03        4,341 GNMA Assn Mtg PI                 4,270.65         4,347.47                         76.76
                                             UM Due 06 .15-29
         05-22-01     0415-03         5,000 CVS Carp                       271,300 00       119,094.42                   -152,105 .58
         03-27-02     04-16-03        7,000 Computer Associates lmllnc     143.360.00        95,222 .13                    48,137.87
         10.1401      04-21-03       10,000 AESCorp                        145,337,00        44,107 .92                  -101 .229.08
        07-xi~99      04.21-03        2,000 Cisoo Systems Inc               62,02700         28,478.76                     X5,548.24
        04-2799       04-21-03        4,1100 Cisoo Systems Inc             138,300,00        63,549.01                     -74,750.99
        061367        04-21-03          607 Reuters Group pk ADR            47,863.00         6,748.85                     -41,114.15
        05.20-A7      04-21-03        1,300 Reuters Group plc ADR           97,688.00        14,461 .86                    ~b3,226.14
        Q5-20~97      04-21-03          260 ReuGem Group pk AOR             19,538.40         2,8,9273                    -16,615.21
        07-1Cr97     04.21-03           867 Reuters Group pc ADR            60,313.00         9,641.35                    50,671 .66
        04-279       04-23.03            32 Smucker.lMCoNew                   1,17230         1,15217                          -20.03
        02-20-01     04-23-03            20 Smacker JM Co New                  580.20           720.17                        139.97
        Ofr13~97     04 .23-03           40 SmuckerJMCoHaw                    1,118.13        1,440.33                        322.10
        07-1801      04-2303             28 Smacker JM Cc New                  760.34         1,008.23                        247.89
        1237-01      04.23-03       10,000 Nextel Comm Inc G A            113.600 .00      124,269.16                      10,869.16
        12-3t-99     04.25-03 3,733.6000 FTI Funds Small Cap Eq Fd         91,056.00        43,496.44                     .37,559.56
        12-28-01     04.25-03 4,639.3580 FTI Funds Small Cap Eq Ed         78,729,93        54,048.53                    -24,681 .40
       01-07.99      04.25~O3 16,744.8100 FTI Funds Small Cap Eq fd      250,000.00        1SS,077.04                     -54,922.96
       07-1891       04-2500     633.3040 FTI Funds Small Cap Eq Fd          8,615.60        7,377.99                      -1,247.61
       OS-11-87     04-2503        46,000 Hays PLC 1P Gbp Par            109,198.00         60,569.73                    -4e,628.27
                                            Ordinary
       07-07-98     04-25-03           400 Konmk6jke Numioo NV            12,866.00         3,005 .57                     .9 .860.43
                                            (EUR) 0.05
       0521-9T      04-25-03          500 Konmktijke Numroo NV            15,752.00         3,756.96                     -11,945.04
                                            (EUR) 0.05
       07-01-60     04-25-03        2,900 !(omnkhjke Numico M/            86,470 .00       21,790 37                     X4,679 .63
                                            (EUR) 0.05




                                                                                                                           1-- 3
                                                                                                                                              i




10/08/2004 FRl 9 :34 FAi 508 748 0615 9aldwin Brothers 444 BLR                                                                    4 010/036




                                                    Baldwin Brothers, Inc.
                                              REALIZED GAINS AND LOSSES
                                                         Garfleld Foundariorr/F
                                                                10688805
                                                       From J1-Ol-(12 Through 11-30-03

                                                                                                               Gain Or Loss
          Open         Close                                             Cost
           Dab          Dote    Quantity             Security            Basis          Proceeds          Short Term    Long Term

         04-01.97    04-25-03        1AD0 KcninkUIke Numico NV             29,40 .01)       7,51,92                        -21,927.08
                                           (EUR) 0.06
        04-27.99     0428-03        1 .600 Procter & Gamble Co            148,587.70      144,671 .62                        x,916.08
        02-20-01     04-28-03         400 Procter & Gamble Co              29,415.92        3H,187 .91                        6,751 .99
        024e-00      0428-03        2.900 BP Pk                           143,376.00          .
                                                                                          1 117 102 .08                    -31,273,92
        07-0698      04-28-03       1000 BP Pk                             44.332.00        38.655 89                        5,676.11
        03-3147      04-28-03       2000 BP PIC                            88 .738.00       77,311,78                        8,573.78
        0031 .97     04-T8-03         100 BP Pk                             3,326.32         3,865.59                           53927
        Q2-04-00     04-29-Gd       3.000 Johnson 8 Johnson              124,080.00       172,710.01                        48,630 .01
        02-04-00     04.29-03         800 Merck & Co                       60.728.00       45,573 .87                      -15,154.13
        02-0400      04.30-03       2,200 Hewlett-Packard Co             128,700.00        35.572.33                       -93,127.67
        07-2399      OS01-03        1,600 Honeywell InCI                 103.496.00        37,5344                         -66,961J6
        02-04-00     0502-03        4150 General Electric Company        196,170.50       1 19,880.39                      .76,490,11
        12-31-01     05-0511        2000 Nextel Comet Inc CI A             22,720.00       30920.35                          8,200.35

        LONG TERM PRIOR to SI6/03                                                                                      "1,337,899.52

        07-W9       aS0643            2.000 VYysth                        102,087 .00     66,195 98                       -15,891.04
        Q7.18-01    05-07-03          1,500 CVS Carp                       60.160 .00     39,193.11                       -20,998.89
        07.25A7     08.08.03          2,000 Schlumberger                 133,389 00       88.105.87                       X15,283.13
        02-04-00    064943            2,200 Exxon Mobil Corp               89.958,00      77,9X.36                        "12,037.8S
        04-28 .89   Q&12-03          2,000 CNF Transportation Inc          86,200.00      90.102.18                       -Z6.09T,82
        OS21~69     OS1303          10,000 Oracle bys Cory                 W~375.00      123,436.20                        59 .06120
        Or22-01     06-14-03         3,000 AgUent Technologies           115,357.50       48,11264                        -67~244.86
        02-000      OS-1S-03          1,650 Boeing Company                71,560 .50      49,007.65                       22.552 .86
        06 .3099    05.15-03        11,000 GNMA Assn Mtg PI                10,805.59      10,999 .80                          19421
                                             7.000% Due 06~15-29
        01-01a      05.1503              12 GNMA 8225796                      12.04            12.04                            000
                                             10.00076 Due 00-t5-19
       61-01-60     05-16-03         1,000 American InCI Group           22,754.85       56961.33                         34,21248
       02-0400      05-19-03         1,360 ChevronTexaco Cory           107,743.50       89,581 .80                      -18,161.70
       0427-99      06-2D-03         1,000 Royal Dutch Pete NLG 1 .25    56,820,00       44,717.91                       -t2,102.0A
       0330.99      05-2t-03           600 Cardinal HeaKh he             2,,6e2.00       34,108.40                        12,446 .40
       01-01-60     06 .16-03           12 GNMA#2237566                       12.14           12 .14                            4.00
                                            10.000% Due 03-15-19
       Ofr3a99      06-18.03       14,702 GNMA Assn Mt~p R               14,442 .56      14,70217                            259.61
                                            7.000% Due 06-15~29
       03.1Q93      01-01-03     500.000 Bell Tel Co Penn DEB Call      500,950.00      516,170.00                        152M.00
                                            1/1%9@103.23        58P
                                           AA Moody AA1
                                           7.700% Due 01-15-23
       O&3Q,99      07-15-03      30,822 GMNA Assn Ilfg PI              30277.50         30~821 .69                         54419
                                           7.000% Duo 01529
       01-01-60     07-1543            12 GN61M 0257566                     12.25            12.25                             0.00
                                           10.00096 Due 03-119
10/08/2004 N'K1 9 :34 N'AI 5US 745 Ub1S maldwln Brothers -ii-i ELK                                                                    cull/U36




                                                   Baldwin Brothers, Inc.
                                             REALIZED GAINS AND LOSSES
                                                          Carfield Foundation/F
                                                                 740688805
                                                       Front l2-Ot-Ol 7hruugh !l-gyp-U3
                                                                                                                   Gain Or Loss
           Open       Close                                                  Cost
           Data       Dab       Quantity             Secuity                 Basis           Proceeds         Short Term   Long Term

         07-193      07-21-03     250,000 Potomac Mac Axr Co Cats            251,675.00         257,475.00                        5,800.00
                                              070103 X102.99      S8P A
                                              Moody M
                                              7.250% Due 07-01-23
         04.063     07-21-03      197,000 Baltimore Gas 3 Elec Call          196,015.00         203,540.40                      1,525 .40
                                             3It198 @104,9A        S6P
                                             AA Moody A1
                                             7.500% Due 03-01-23
         06.30~A9   015-03         55,306 GNMA Ann Mfg PI                     54,329sI           55,306.00                         976.49
                                             7.1110% Due 06 .1529
        01-01-60    015.03               12 GNMA #257566                          12.36              12.36                           0.00
                                             10,00097 Due 03-15.19
        01-01.60    0&20-03               1 Medco Health Solutions                 0.00               0.00                           0.00
        0630.99     09.15.03       13 .137 GNMAAscn Nltg PI                   12,905 .25         13,137 .20                        231.95
                                             7.000% Due 015,29
        01-0160     015-03              t2 6NMA#?57566                            12.47              12.47                           0.00
                                             10.000% Due 03-15-19
        01-01-60    10-15-03             8 GNMA X257566                              7.50             7.50                           0.00
                                             10 000% Due 03-15-19
        0630.99     1a15-03         6,709 GNMA Assn Mtp R                      6,590.06           6,708.51                        118.45
                                            7.0000A Due 06-1529
        01-0160     11-17-03            13 GNMA*?57568                           12.60               12.60                           0.00
                                            10 .00096 Due 00-1519
        063x99      11 .17-03     42,099 GNMA Assn Mtg PI                    41,355.71          42,099 .02                        743.31
                                            7.000% Due 06-1 5-29

        LONG TERM AFTER &W                                                                                                 -103,034.33

        TOTAL GAINS                                                                                                 0.00   222,523.96
        TOTAL LOSSES                                                                                                0.00 -1,663,457.80
                                                                          5300,524.94       3,859,991 .09           0.00 -1,440,933.85
       TOTAL REALIZED GAIWLOSS      -1,440,933.85
       NO CAPITAL GAINS DISTRIBUTIONS




                                                                                                                                  3 --~
 lUlU6/lUU4 1'ttl           y
                            :36         t'tlA OUb 145 um da1Qw1II bt'OtIIeCS 444 bLt(                                                      I¢jUOlU3b



                                                                                    5-TL           A
                                                                       Haldwin Brothels, Inc.
                                                        REALIZED GAINS AND LOSSES
                                                                    Garfrcld Foundation/B
                                                                          I79-744425
                                                                           440213411
                                                                 Front J2-O1-02 Through 11-3U-03
                                                                                                                          Gain Or Loss
                 Open        CIO"                                                    Cost
                 Date         Des         Quantity              Security             Basis         Proceeds         Short Term     Long Term

                10-13-99    12-03-02              960 UbeAy Media Ser A rights             0.00             0.00                         " 000
                1Q-1399     12A3-02               840 liberty Media Ser A rifts            0.00             0.00                           0.00
                06.20.97    12-16-02               21 GNMA A267566                        2057             20.57                           0.00
                                                       10.000% Due 03-15-19
                07-0342     01-13.03     70,565.0330 P1mcoTotal Return               150,000.00      751,411,10         1,411.10
                08-20.97    01 .15.03           4,442 GNMA#257566                      4,441 .39       4,441,59                            0.10
                                                       10,000!6 Due 03-1519
                01-26-02    01 .17-03           6,250 Mieriaedt                      145,084.38       23,999.26      -121,085.12
                01902       01 -17-03           8,50 Amarlaedt                       123,690.00       33,598 .97      -90,091.03
                OT-03-02    01-17-03     60,728,7450 Dodge 8 Caz Income              750,000.00      774,898.79        24,898.79
                07 .1393    01-17-03         250,000 Quebec Prov Canada DEB          258,775.00      300,885.91                      44,110.91
                                                          S&P A+ Moody A2
                                                      7,50096 Due 07-1523
                11-08-02    Ot-27-03            7,000 Best Buy Inc                    133,665.00      186,634.38       61,96938
                08-19-02    02-13-03            3,000 AIIIancx Cap Mgt Holding LP     101,182.80       80,037,57      -21,145.23
                10-28.97    02-13-03            5,000 CendaM Corp                     138,321.40       53,940 .38                    -8a.3e1 .a
                01-11-00    02-13-03            5.000 Cendam Cory                     110,800.00       53,940 .36                    -b6,859.64
                06-2901     0213-03           14,000 Cendant Corp                    599,24359       107,880.71                      -91,382 88
               01-04-98     02-13-03            5,000 CendnMCorp                       99,500.00       53,940.36                     X5,559.64
               02"12.99     02-1303            5.000 Cendant Carp                      85,487.50       53940.35                      ,91,547.16
                11-08-0t    02 .1303           2,300 Capital OneFaiandal             134,060.00        71,507.59                     -02,54241
               08-20-02     02-13-03           5,000 Capital One Fnandal             176,819SD       13,015.18        33,804 .32
               019-02       0243-03            7,500 Capital OneFmandal              250,281 .76     214,32278        X5,758 .99
               04-1x9'7     021303            10,OOOInteICorp                        163,515.Q0      150,088.44                     -13,436.56
               01 .11-0a   02.13-03            tA00 Coca Cola Co                      60,860.00       39.218.82                     -21,41 .18
               OS-11-00    013-03              2,000 Coca Cola Co                    107,634 .80      78,437.63                     -29,197.17
               04.18-01    02-1303             1,000 Coca Cola Co                     47,124 .00      39,218 .81                     7,901.19
               04-26-01    02-13-03            2,000 Mediromc                         86,043 .23      86,717 .41                       -325 .82
               08.2302     02-13-03            5,000 Staples                          73,465.00       61,217.53        7,75253
               12.21-01    02-14-03          40,000 Sovereign Bancap                481,948.00      510,740:48                       28,79248
               062097      02-17-03               12 GNMII #257566                        11 .73          11 .73                          0.00
                                                     10 00016 Duo 03-15-19
              03~19d2      02-18-03        849.0380 Buffalo Small Cap Growth         18,06055        11,759.17         6,291 .38
              03 .19.02    02-21.03     10;910.1340 Buffalo Small Cap Growth        231,94945       151,085.36       ~80,864.D9
              06-20-07     4317-03                12 GNMA lr2i7568                      11 .83           11 .83                           0.00
                                                            b
                                                     10.000 " Due 00-15-t9
              019.02 04-043                   5,000 Kraft Foods Ins                 200,841.00      141,503.34       -59,337.66
              0324.99 04-05-03                3,000 Fannie Mae                      201,971.58     205,520.36                        3.541180
              01-11-00 0408-03                2,000 Fannie Mae                      118,820.00     131,013.58                       18,193 58
              10-30-02 04.08.03               5,000 OUALCOMM                        167,182.00     161,420.92         s,7s1.oe
              04-0398 04-08-03              10,000 QUALCOMM                          69,70250      322,841.83                      253,13933
              04-09-01 04-11-03               2.500 American IMY Group              191,148.41     133,518.73                      -58,229.69
              11-0~9~02 04-11-03             6,000 Best Buy Inc                     114,570.00     181,478.27        65,90827


lYOC NIT nche .x 1 .500 .000 ssmr x 700,A00 ww.x 500,000
wpvlx 250,0U0 macsx 50U,000 04125 r4ux 500,000




                                                                                                                        r          L~
  10108/1UU9 YKl y :3s YAA 5ua 145 ub15 baiaRin broiners ~-)-1 nix                                                                         Euuoiuao




                                                           Baldwia Brothers, Inc.
                                                     REALIZED GAINS AND LOSSES
                                                                Garfield FounJationB
                                                                      179L744425
                                                                       440213411
                                                              From 12-O1-02 Tinough 11-3rL03

                                                                                                                       Gain Or Loss
                 Open        Close                                             Cost
                  Date        Data     Quantity             Security           Basis          Proceeds         Short Term         Long Term

               01-06-03     00-11-03      30,000 IShares Inc MSCI Japan         217,500.00       186,591 .15        .30,908 .85
                                                  Index Fd
               07.2402     04-11-03         1,000 Goldman Sadt6 GrOUp            68 .970 00      72 .926.58          4.056.58
               062D~97     04-15-03            12 GNMA X257566                        11,94           11 .94                               000
                                                  10.00091 Due 0315-19
               01-0&A20
               .           .S02-03
                           0               2,000 Emaaan 8a Co                  115,215.40       102,361.19                          .12,85421
               02-04       OS-02M           1,000 Johnson & Johnson             41,380.00        56,567 .34                          15,197.34
               04-2601     OS-02-03        2,000 Medrtonic                      86,04323         96,159 .48                          10,116 .26
               0&2302      05-0Q-00        5,000 Staples                        73,465 .00       95,595.49          22,130.49
               11-01.00    OSQ2-W          1,000 Evan Maw Corp                 181,240 00       143,673.25                          X7,566.75

               LONG TERM PRIOR t0 516103                                                                                          -180,106,42

               06-20,97    O6-15-03           12 GNMA#257566                        1204             12 .04                                0.00
                                                 10 .000'°1L Due 03.1519
               044M1       0628-03         2,500 American Inri Group           191,748.41       142,043.33                          X9,705 .08
               11-08-02    06-2&03         2,000 Best Buy Inc                   38,190.00        74,066.52         35.866.52
               01-08.02    06 .28-03       1,000 Emerson Elec Co                57,807.70        51,027.60                           x,580.10
               1a~3-9s o6-2843             s,eae ubenr Media Corp New Cam      125,408.5         76,326 .91                         49,081 .54
                                                   Ser A
              04-2303      OS-2H3           7,500 QUALCOMM                     248,780.75      235,677.17          -13.083 .58
              02.16-01     0&29-03        10,000 Unionbantal Cory              290,174.05      407,780.85                          114,606.80
              08-18-00     062M             2,000 Yaoom p B                    137,219 20       92,115 .87                         X5,103.53
              04-24-03     06.28-03        6,000 Verizon CortmuniptqM          220,160.00      224,089.47           3,829 47
              11-01-00     05,9003         3,800 6orcn Mobil Cory              172,178.00      137,687 .53                         X1,510.47
              02-0400      0630-03         2.200 Bow Mobil Corp                 89,958.00       79,702.26                          -10.25574
              OB~24-93     05,30-03        4,000 Eocon Mobil Core               58,000.00      144,913 .19                          89,913.19
              O6r20-97     O6r16-03            12 GNAIA X257568                     1214            1214                                 000
                                                  10.00096 Due 0315.19
              01-1I-03    06-20-03        10.000 Technology Salad Sector      187,510.00       173,991.90           6,481.80
                                                  SPDR Fund
              12-17-02    020-03         15,000 Technology Select Sector      240,973.54       260,987.70          20,014.20
                                                  SPDR Fund
              0310-93     07-01-03      SOO,OpO Ball Tel Co Penn DEB Call     500,950.00       516,110.00                          15,220.00
                                                  11150@103M         S8P
                                                  AA Moody AA1
                                                7J00'1G due 01-15-23
              08-1144     07.14-03      500,000 GiIleGe Co Note               439,450.00      542,500.00                          103,050.00
                                                     S&P M Moody AA3
                                                5.750% Due 1415-0S
             06-2O-97     07.15              12 GNMA #257566                      12.25            12.25                                0.00
                                                  10.00096 Due 00-1519


NlX: MF nthe.x 1,300,000 csmg.x 300,000 upsr.z 500,000
wpvls 250,0f1q mots 500,000 OII25 ryjux 500,000




                                                                                                               v
                                                                                                                         "-        ~   A
 lUlU8l1UU4 rlcl y :34 W 5u5 145 uo1ZI MUM NuLuers 444 nLCC                                                                               *JuuI/uao




                                                            Baldwin Brothers, Inc .
                                                      REALIZED GAINS AND LOSSES
                                                                   Garfield Four:dation/E
                                                                         179-744425
                                                                          440213411
                                                                Frerx Il-Ol-01 Through 11-30-03

                                                                                                                       Gain Or Loss
                 Open        Close                                                 Coat
                 Date         Date      Quantity              Security             Basis         Proceeds        Short Term     Long Term

               07-1493     07.21-03        250,000 Potomac Elec Pwr Co Cal!        251,675.00       257,475.00                        5,800.00
                                                   070103@102-99      SAP A
                                                    Moody A1
                                                    7.2306 Due 07-01-23
               040693      07-21-03         196,000 BaIGmore Gas & Elec Call        194,432.00      202,507.20                        8,7520
                                                     3/ll'98 X104.98        5&P
                                                     AA Moody A1
                                                     7.50Q° Due 03.01.23
               02-15-02     OB-06~03    3293 3980 Northeast Investors Trust         27,796.28       23,251 .39                     X1,544.89
               01-1)-01     x8-06-03   59.952.0380 Northeast Investors Trust       500,000.00      423,281.39                     -76,738.61
               014&01      OB-0M       60,901 .3400 Northeast Investors Trust      500,000.00      429,963.46                     -70,036.54
               05.17-01    Q8.06-03     3,338.9100 Northeast Investors Trust        27,312.29       23,57270                       3,739.59
               OB-16-01    09-06-03     3,350.8880 Northeast Investors Trust        26,771 .98      23,656 .86                     x,116.13
               063.02      08-08-03     2,677.7010 Northeast Investor Trust         20.698.64       18,904 .57                     -1,791 .07
               03-14-02    08-0603      3,338.4810 Northeast Investors Trust        24,237 .44      23,569.75                        -667 69
               11-1x01     OA-06-03     3,8160810 Northeast Investors Trust         27.475.64       26,941 .39                       -b34.25
               02-11.03    08 .06-03      974.4320 Northeast investors Trust         7,015.91        8,879.49         -138.x2
               08~2(W      08-15-03              12 GNAAA#25756b                        12.36           12.36                            0.00
                                                     10.000% Due 03.119
               08.20-97    0945M                 12 GNMA #257566                         1247           1247                             000
                                                     10.00096 Due 03-15-19
               06 .2b97    10~1SQ3                8 GNMA X257566                          7.50           7.50                            0A0
                                                     10.00091 Due 03.1 5-19
               11-08-02   1018-03             5,000 Best Buy Inc                    95,475.00      265,367 .55     169,912.55
              OT-1843     10-18-03            5,000 Cendant cap                     89,800 00       97.560 .40       7,760.0
              09-02-03    10-1609             2,000 Capital One Flnanalal          110,760.00      122,334 .28      11,57428
              09.19-03    10.16-03            5,00 MbosoR Carp Wash               149,875.00      145,143.17        x,731.83
              08 .24-01   1G-16-03            2800 Protein Design lobe              83,21296        40.410.21                    .42,802.75
              07-02-03    10-1600             3,750 Rent-A~Cenler                 111,966.3       123,71231        11,748.01
              08-ZM       1016-03             5,000 S1'ves                          )3,465 .00    121,899.48                      54.434 .18
              09-02-03    10.16-03           2.500 Yaoom CI B                     114,650.00        99,620.32     -15,029.88
              12-17-02    1x16-03           10,000 TednologpSelect Sector         160,649.00      195,590.78       34,941 .78
                                                    SPDR Fund
             01 .15-02    1x16-03      7,810.0590 Meridian Value Fund             250,000.00      174,679.78                     24,69.78
             08.24-01     1x17-03            4,200 Pral,em Design labs             124,819.44      56,697 .32                    W. 122.12
             0322-01      1at7-03            8,000 Protein Design Labs             144,217.50     101,994.89                     36,22261
             10-06-03     11-06-03         10,000 NeDdel Comm Inc CI A            215,037.00      235.832 .90     20,795 .90
             Ot .t4A3     11-07-03          5,000 Wiles Holders Tr                331,050.00      366,720 .85     34,670.85
             01 .1-03     11-07-03         10,000 Sector Spdr Tr Sb Ben Int       400,334.00      434,579.54      34,245.54
             11-08-01     11-12-03         2,500 Best Buy Inc                      47,737.50     147,343 .08                     99,60S58
             OS16-03      11.12-03         5.000 FIeetBosfon tint Core            146,798 .00    202,440.49       55,64249
             08.2302      11-12-03         5.000 Staples                          73,465.00       132,793.73                     59,32873
             062497       11-17-03            13 GNMA #257566                         12.60            12.60                         0 00
                                                 10.00096 due 03 .1519
NOC MF nthe.x 1,3100,000 ssmg.x ;00,000 wpsrx 500.000
wpvlx 250,000 nues+c 500,000 04x15 rAux 500.000




                                                                                                                                      L~'
 10/08/2004 FK1 9 :34 FAA 508 748 Ub15 oaldwin Brotaers 411 oLlt                                                                       guud/usb




                                                                   BaIdwin Brothers, Inc.
                                                   REALIZED GAINS AND LOSSES
                                                               Garfield Foundation-,$
                                                                     179-744425
                                                                      440213411
                                                             From 12-01-02 Through 1/-30-03

                                                                                                                     Gain Or Loss
                Open       Close                                                  Cost
                Date        Date     Quantity            Security                 Basle         Proceeds        Short Term     Long Term

               07-02-03   11-25-03       10,000 Down Energy Corp                  523,266.00      480.479 .45      42,786.55

               LONG TERM AFTER 516103                                                                                            70,158.04

               TOTAL GAINS                                                                                       626,608 .91   946,81266
               TOTAL LOSSES                                                                                     -560,815 .81 -1,Ob6,76t .04
                                                                              14,411,785.81    14,367,630.54      65,793.10 -109,948 .36
               TOTAL REALIZED GAINlLOSS         X4,155 .27

               CAPITAL GAIN DISTRIBUTIONS

                        12-12-02                Pimeo Total ReOum                                                                  7,15851
                        12-31-02                Dodge & Cac Incarne                                                                1,821.88
               TOTAL DISTRIBUTIONS              8,880.37                                                               0.00       8,980.37
                                                                                                                  85,793.10    -100,968.01
               TOTAL GAIrULOSS                  X6,174.90




                                                                         ~-os'(                    ~2 oc~~ ~a S


                                                              67 ~9 I,? ( .-                         7031q1bl-                             ~~~ q3
                           -S          T

                                                               l    1   1 ~   ~    " r
                                                                                                    Z~ /(~~ I ~ -_
                                                                                                                                    (1 0 Y -)

                            6rD_0W1-',S -T,0TAL. 14411g-                                              ~6 T45 I,,
NA(; MF ntha.x 1,SAO,fN)0 um&x 309.000 wpsr.x 500.000
vrpvlx 250,000 rtnesx SOO,OOU 0445 ryjux 500,000




                                                                                                                        ~t -~' LI
luMiLUU4 rnl           U"- 00     MA auo 140 uol0 naluWlu nruLuera -44-1 nLc                                                          *J uucI uJu




                                                                                                              l'
                                                        Baldwin Brothcrs, Inc.
                                               REALIZED GAINS AND LOSSES
                                               The Garfield Private Family Foundation
                                                              834- 74C80
                                                       from !l-Ol-Ol Through 11-30-03

                                                                                                                   Gain Or Loss
          Open          Close                                            Cost
          Date          Dab       Quantity           Security            Basis            Proceeds          Short Term       Long Term

         10-2402       12-18-02           500 Apollo Group Inc             22,296.55           19.979.39        -2,317.18
         1x2402        12-18-02           238 Apollo Group Inc              10,613.16            9,510.19       -1,10297
         1x2402        12-t8-02           182 Apollo Group Inc               7,224 .08           6,471.70         -752.38
        06 .23-00      t2-18-02           200 Computer Sciences            14,995 .00            6,581.80                       x,413.20
        06 .2300       12-184           2,800 Computer Scfenm            210.630 .00           92,14521                       -118,484J9
        0401-02       12.18-0             525 First Data Corporation       22,464 .75          18,773 .43       x,691 .32
        04-01-02      12-18-02            8001.owe's                       35,280.00           31,039AB         x,24094
        08-2202       f2-tA-02          1,200 Newell Rubberrnad Inc.       42,372.00          37,198.87         -6,173.!3
        10-04-01      12-18-02            750 Target Corp                  25,867.50          23,284 29                         -2.603 .21
        06-17-01      12-2302          3,00 Bank New Yak Inc             200,170.00           88,292 .66                      -111,871 .35
        11-27-02      01-10.00            900 Seemnie Arts Inc             59,832 .00         45,607 .86       -14,22< 35
        11-08-02      01 "23-03           325 Carnival Corp                  9,396.82           8,19625         -1,200 .57
        11-08-02      01-23-03         2,600 Carnival Corp                 75,174.58          85,541 .01        -9,630.37
        01 .14-02     01,23-03           300 Cuo Systems Inc                6,027.00            4,250.87                        -1,776.13
        12-18-01      01-27-03           300 CoIgaWPalmolive Co            17,160.00          15,806 .52                        -1,363.48
        12-18.01      0117-03            500 Colgata Palmolive Co         28,600.00           26,339 20                         -2,26080
        12.16-02      01,2703             175 Gannett Inc Del              12,451 .25         12,629 .36           178.11
        12-1&02      01-27-03            400 Gannett Inc Qel              28,460.00           28,89.13             399.1
       05.22-01      01-27-03          1,000 IIACrosott Corp wash         68,080.00           51,718.44                        .16,361 .56
       07-27-01      0127-03             100 PepeiW Inc                     4,584.00           4,334.86                           -249.14
       077-01        Ot-27-03            900 PepslCOlne                   41,256 .00         39,004.82                          -2,261 .18
       0501-02       01-27-03            750 Union Pu Corp                43,410 .00         44,691 .15         1,281 .15
       06.2800       0131-03             250 Fannie Mae                   14.009.38           X5,988.28                         1,97892
       05-01-02      01,31-03            650 Union Pac Corp              37,622.00           36,131 .44        -1,490.58
       07-27-01      02-04.03            950 Pepsloo Inc                 43,548.00           37,793 .65                        S,7B4.33
       07-14.97      021503       1,100,000 U S Treasury Notes         1,100,X5.70        1,100.00100                           -266 .70
                                              625096 Due 02-15-03
        11-1 S.QZ 02-18-03            1,550 LxJdieed Martin Corp          84,785.00          73,397.72        .11,381 .?.8
        11 .19-02 0 " 18-03              650 lodcheed Martin Corp        33,215.00          30,779.89          -2,35.31
        1""1 03-10-03                 2,275 Target Corp                  78,64.75           59,124.00                         -19,34075
       08.047 03,26-03                  950 ChevrtonTexaco Corp          73,190 .96         62,509 .06                        -10,68190
       04-11-01 04-15-03                250 Abbott Labs                  11,68250             9,987.03                         -1,715.17
       10.24-02 04-15OCi                5W Apollo Group Inc              22,296.55          25,548.80          3,25225
       02-0501 04.15-00              2050 Gtigroup Inc                  108,120.65          75,820 .95                       X2,499 .70
       00497 04-tS03                    200 ChevronTexaoo Corp           15,08.62           12,745 .40                        .2,663 .22
       01-14-02 04-1S-03             1,400 GscoSystems Inc               28,126.00          18,031 .14                       -10,084.86
       01 .23-03 04-15-03               160 dear Channel                  6,348.00            5,444.74          -903 .1b
                                             Carnnunications Inc
       07-117        04-15-00           175 Irri'I Business Machines      8,403.28          13,694 .85                         5,29157
       04-01-02      04-15-00          95D Lorue'S                      41,895 .00          41,133 .07                          -76193
       0327-03       04-15-03          275 Marsh & McLennan Cos Inc     12,078 81           11 .999 .44         .79.17
       10.10-02     04-15-03           350 MedUOnic                     15,150 .73          16,403 .73        1,25300
      os-oW         a-1s~M           12M Merck a Co                    58,109.38           68,796.77                          fO.697-V
      OS22-01       04-1500         2.000 IhuuosoR Corp Wash           68,080.00         ' 48,722.51                         -19,357.49
      OS22-01       04-15-03          6?S Microsoft Corp Wash          21,275.00           15,225 .78                         x,049.22
      0&22-02       04-15-03          900 Ne+vell Rubbermaid Inc       31,779.00           26,809.74         .4.96926
      07.27-01      04-1503           950 Pepsico Inc                  38,964 .00          33,683 .91                         x,280.09
      06.21-01      04-15-03          250 Pfizer Inc                     8,675.00            7,834.63          -34037



                                                                                                                   1
1010812004 ~'ki 9 .33 FAX 508 79 8 u615 o al~win o ratners 444 Bu                                                              cUU3/U3b




                                                     BaIdwm Brothers, Inc.
                                            REALIZED GAINS AND LOSSES
                                            The GarJeld Private Family Foundation
                                                              834-74C80
                                                     From l1-0l-OI Tl+rough 11-30-03

                                                                                                             Gain Or Loss
           Open        Close                                           Cost
           Date        Date     Quantity           Security            Basis          Proceeds         Short Perm      Long Term

         03-06-03 04-1503             175 Texas Instruments Inc           2,933.49          2,847.11          -06.38
          1004,41 04.15-03            375 Target Corp                    12,933J5         11,144 .47                      "1,789.28
         W4447 04-1503              1,000 Yenmn CommuNcallons           37,883.59         33,508.42                       ~d,375.17
          02-24-03 0415-03            350 Vodatone Group PLC New          6,368.07         8,649.68          291,61
          07.22-02 OA-15 .03          450 Wells Fargo 8~ Company        20,002.30        ?A,987.51           980.01
          12-16-01 04-15-03         1,000 Colgata Palmolive Co          57,200.00        $5.787.38                        -1 .432.62
          0&21 .02 04-1503            100 Dell Inc                        2,41 .00         2,813.87          37287
         08.21-04 01-15-03          1,900 Dell Inc                      46,379.00        53,463 .48        7 .08448
          10.11-02 04-1S43            650 Entefgy Corp New              27,931 .61       30360.07          2,428.46
         06~11~97 04.1503           1,575 F~ocon Mobil Cory             41,64205         54,114 .46                       12,472.40
         04-01-02 04-15-03            475 First Data CorporaVon         20.325.25        16,329 .73                        x,99552
         04-01-02 04.1503             200 First Data Corporation          8,559.00         6,815.88                       -1,683 .32
         08-0467 04-15.03           2,300 General Elentric Camp2ny      52,014.03        62,028.08                        10,01405
         02-24-03 04-1S-0C~         1,150 HCA Inc                       47,207 .50       41,455.55        -6.751 .86
         092402 04-21-03            2,100 FICA Inc                      95,802 .00       81,148 .34      -34,05588
         12,Z6-0Z 04-21-03           500 HCA Inc                        21,305,00        14,701 .51       -6,603.49
         02-24-03 04.21-03           750 HCA Inc                        30,781.50        22,052.28        $,735.24

         LONG TERM PR10R to 516103                                                                                     -352,927.11

         05-0667     06-09-03           85 Merck & Co                     3.951 .44        4,98219                         1,030.75
         05-22-01    05-09-03         200 Metric 8 Co                   15,838.00        11,722 .79                       x,113.21
         OS-22-01    Q5-09-03        1,000 Merck 8 Co                   19,190.00        58, 613.93                      -20,S76.05
        024-03       0549M            615 Merck & Co                    33,849.60        36.047.57        2,197.97
        06-21-02     MI-03           1,700 Dell Inc                     41,497.00       53,200.02        11 .703 .02
        OB-21-02     Or21-03          176 Deli Inc                       4,271.75         5,476.47        1,204.72
        10 .04-01    05-21-03       1,900 Target Cory                   65,531 .00      64,551 .55                          -379.46
        1x24-02      .
                     09-?&A3        1,350 Apollo Grovp Inc              60.200.69       72,494 .4        12,299.75
        07-11-0T     06-11-03         7?b InCI Bwinees Machines        34,813,60        59.480.27                        24,666.67
        08.122      OB~17-03        1,900 Newell RubDermafd Inc.       67,089.00        53,251,07       -13,837.93
        022-02      Ofr17-03          200 Newell Rubbermaid Inc.         7,062.00         5,606.38       .1,456.62
        02-24-03    08-01-03        1,085 Merck & Co                   59,718.40        60,099 89          381.49
        OS.16-03    09-10-03       2,6b0 Mylan Laboratories Inc        75,109 .22       95,783 .73      20,674.51
        0&2599      09.15-03     225,000 Federal Home Loan Bank       215,995.50       225.000.00                         9,004.50
                                           Jumbo Notes
                                          5125% Due 0 .415-03
        01 .27-03   09.17-03       1,975 Washington Mutual Ins         70,40875         74,x'11 .24      4,18249
        01-13-03    10 .02-03          50 Dear Channel                  2,116.00         1,836.96         -279 .05
                                          Communications Inc.
       01-23-03     10-02-03       1,800 Gear Channel                  76 ,2~ zoo       66,130.15       -10,081 .85
                                          Communications Inc.
       02-24-03     10-02-03         900 Clear Channel                33,525.00        33.066 .08         X59.92
                                          CommunicaUons Inc.
       11-18-02     1x17-03          250 Gannett Ins Del              17,787.50        19,967A1          2,179 .91
       07-19-03     10 .17-03     4,300 Oracle Sys Cory               54,818.98        52,224 .04       -2,531.94
       06-1597      1(1~21413   200,000 U S Treasury Notes           200,531 .25      223,750.00                        23,218.)5
                                         6.500 Due 10.1506
       05-13-03     1x10-03       1,025 Du Pant E I De Nemours Co     43,451,19        41,017 .34       -2,433 .95


                                                                                                              E , "'~
lUlUB/LUU4 CK1        y :JJ       CAA Na 148 U013 U141Y111 rii'Ml1eI'S 444 13Wi                                                       !g UU4/ UJO




                                                         Haldwin Brothers, Inc.
                                                  REALIZED GAINS AND LOSSES
                                                  The Geld Private Family Foundation
                                                                   834-74C80
                                                          From 11-01-O1 Through //-30-03

                                                                                                                   Gain Or Loss
          Open         Close                                               Cost
          Date         Date       Quantity   .,       Security             Basis            Proceeds      , Short Term        Long Term

        07-1883       1x24-03         1,200 BuAinglon Resources               50,820.00         51,448 .38       -2.371 .62
        03-27-03      1x24-03         1,475 Marsh 8 Mdennan Cas Inc           64,785 .25       68,672.03          3,8W 79
        OB-W,97       71-03-03        1,504 Ver(zon Communicaliona            94,860 .50       82,313.13                        -12,54737
        02-21-03      11 .03.03       1,200 Verizan Communications           44,59200          39.44719          .5,14481
        04-t743      11-t2-03         1,000 XL Capital Led Class A            74,8W,00         68,165 .70        x,714.30
        01-1402      11 .18-03        2,000 CiSOO SyciBms Inc                40,180.00         44,957 .88                         4,777.88
         12-18-01    11-1803            600 Colgate Palmolive Co             34,320.00         31,666 .51                        -2,653.49
        0401-02      11 .1&03           TOOI,aWs                             30,870.00         40,318 .10                         9,448.50
        07-22-02     11-18A3          1,100 Wells Forgo 8 Company            48,895 .00        62,646.02                         13,751 .02
        06-1197      11-20.03         1.745 Exxon Mobil Carp                 46,136 .76        61,813 89                         15,877 .14
        06-25.03     11-25-03         1,800 Raytheon                         59.34258          48,888.01       -10,454.54
        05-01-02     11-25-03         1,600 Union Pac Coop                   92,808.00        100,909.18                          8,301 .18

        LONG YERN AFTER 518100                                                                                                  69,006 .42

        TOTAL GAINS                                                                                            76,345.12       150,320.32
        TOTAL LOSSES                                                                                         "175,500 .85     .434,241.01
                                                                         5,439,799.17      5,050,883.36       -99,195.12      .283,920.69
        TOTAL REALIZED GAIN/LOSS             J83,115.81
        NO CAPITAL GAINS DISTRIBUTIONS



                                                                      G31~                       ~~                               C~+n~~Lon ~

                                                                                                                                      (q qi



                                                                 ~~3~7q , ,
                    CWW"( -10-~at
2002 DEPRECIATION AND AMORTIZATION REPORT

                                              FORM 990-PF PAGE                     1                                                              990-PF


  Asset                                            Date                                Line    Unadjusted       Bus %   Reduction In     Basis For        Accumulated      Current     Amount Of
                              Description
                                    Plion                                  Life          oe
                                                 Acquired                                     Cost Or Basis      Excl       Basis      Depreciation        Depreciation    Sec 179    Depreciation



           1 LEASEHOLD IMPROVEMENTS031201 L                                7 .5017               6,323 .                                  6,323 .                 393 .                      230 .

           2 F URNITURE & FIXTURES               3 8 1 DOU 7 .00 17                              I, 470 .                                 1,r470 .                570 .                      257 .
              IEWSONICI7" .26 SVGA
           3 COLOR MONITOR                      071601          OOD        .00         17               394 .                                 394 .               205 .                         76 .
             PENTIUM III 80OMHZ
           4   V1iPV 1 Lllt                      1   2      1   V iJ J.T   Y OO        1 7       2~185 .                                  2 1 18 5 .         1,,136 .                        420 .

               P DESKJET            1250CSE
           5 C OLOR PRINTER                     012201 OOD                 .00 17                     675 .                                   675 .               351 .                       130 .

           6 R{}GRAM EQUIPMENT                  10 0 2 200D                .00 17                l, 872 .                                 1, 872 .                  94 .                      711 .

           7 S OFTWARE                          071502 OOD 3 .00 17                              6,280 .                                  6,280 .             1,570 .                    3,140 .

           8 SOFTWARE                           109 2 ODD 3 .00 17                               41606 .                                  4,60        .           .384                   2,815 .

           9 F URNITURE & FIXTURES              033103 OOD 7 .00 19C                             1,729 .                                  1,729 .                                             247 .

         10 FURNITURE & FIXTURES                 8 9 3 QQT3 7 . 00 19                            lo44S .                                  l, 446 .                                           207 .

         11 P ROGRAM EQUIPMENT                  121302 OOD                 .00 19                       895 .                                 895 .                                           179 .
                TOTAL 990-PF PG 2
               EpR                                                                             27,875 .                          0.     27,875 .             4o,703 .           0.       8t412 .




228102
io-2a-o2                                                                          (D) -Asset disposed                   " ITC, Section 179, Salvage, HR 3090, Commercial Revitalization Deduction

                                                                                                 16
  THE GARFIELD FOUNDATION C/O BEHAN LING &                                                    22-2285358


FORM 990-PF                  GAIN OR   (LOSS)     FROM SALE OF ASSETS                      STATEMENT       1




          (A)                                                    MANNER           DATE
DESCRIPTION OF PROPERTY                                         ACQUIRED        ACQUIRED       DATE SOLD

LITIGATION SETTLEMENT                                         PURCHASED         VARIOUS         VARIOUS

               (B)                 (C)                (D)                 (E)                 (F)
              GROSS              COST OR           EXPENSE OF
           SALES PRICE         OTHER BASIS            SALE             DEPREIC .         GAIN OR LOSS

                  22,772 .                   0.               0 .                  0.               22,772 .


          (A)                                                    MANNER           DATE
DESCRIPTION OF PROPERTY                                         ACQUIRED        ACQUIRED       DATE SOLD

SEE STATEMENT ATTACHED A                                      PURCHASED         VARIOUS         VARIOUS

               (B)                 (C)                (D)                 (E)                 (F)
              GROSS              COST OR           EXPENSE OF
           SALES PRICE         OTHER BASIS            SALE             DEPRIEC .         GAIN OR LOSS

               3,859,591 .        5,300,525 .                 0 .                  0.        <1,440,934 .>


          (A)                                                       MANNER          DATE
DESCRIPTION OF PROPERTY                                         ACQUIRED        ACQUIRED       DATE SOLD

CASH IN LIEU                                                  PURCHASED         VARIOUS         VARIOUS

                                                      (D)                 (E)                 (F)
              GROSS              COST OR           EXPENSE OF
           SALES PRICE         OTHER BASIS             SALE           DEPREC .           GAIN OR LOSS

                      20 .                   0.               0 .                  0 .                  20 .




                                                      17                    STATEMENT S) 1
18041012   756258 GFDN                 2002 .09000   THE GARFIELD FOUNDATION C/O GFDN   1
  THE GARFIELD FOUNDATION C/0 BEHAN LING &                                          22-2285358


          (A)                                              MANNER        DATE
DESCRIPTION OF PROPERTY                                   ACQUIRED     ACQUIRED      DATE SOLD

SEE STATEMENT ATTACHED B                               PURCHASED       VARIOUS        VARIOUS

                                (C)             (D)              (E)                (F)
              GROSS           COST OR        EXPENSE OF
           SALES PRICE      OTHER BASIS         SALE          DEPRE;C .         GAIN OR LOSS

              7,034,780 .      6,968,987 .             0 .                0.              65,793 .


          (A)                                            MANNER          DATE
DESCRIPTION OF PROPERTY                                 ACQUIRED       ACQUIRED      DATE SOLD

SEE STATEMENT ATTACHED B                               PURCHASED       VARIOUS        VARIOUS

                                (C)             (D)              (E)                (F)
              GROSS           COST OR        EXPENSE OF
           SALES PRICE      OTHER BASIS         SALE          DEPREC .          GAIN OR LOSS

              7,332,851 .      7,442,799 .             0 .                0.         <109,948 .>


          (A)                                            MANNER          DATE
DESCRIPTION OF PROPERTY                                 ACQUIRED       ACQUIRED      DATE SOLD

SEE STATEMENT ATTACHED C                               PURCHASED       VARIOUS        VARIOUS

                                (C)             (D)              (E)                (F)
              GROSS           COST OR        EXPENSE OF
           SALES PRICE      OTHER BASIS         SALE          DEPREC .          GAIN OR LOSS

              1,773,415 .      1,872,610 .             0 .                0 .         <99,195 .>


          (A)                                            MANNER          DATE
DESCRIPTION OF PROPERTY                                 ACQUIRED       ACQUIRED      DATE SOLD

SEE STATEMENT ATTACHED C                               PURCHASED       VARIOUS        VARIOUS

                                (C)             (D)              (E)                (F)
              GROSS           COST OR        EXPENSE OF
           SALES PRICE      OTHER BASIS         SALE         DEPREC .           GAIN OR LOSS

              3,277,269 .      3,561,189 .             0.                 0 .        <283,920 .>




                                                 18                    STATEMENT S) 1
18041012   756258 GFDN            2002 .09000   THE GARFIELD FOUNDATION C/O GFDN   1
  THE GARFIELD FOUNDATION C/O BEHAN LING &                                                22-2285358


          (A)                                                    MANNER        DATE
DESCRIPTION OF PROPERTY                                         ACQUIRED     ACQUIRED      DATE SOLD

ALLIANCE CAPITAL MANAGEMENT HOLDING                            PURCHASED     VARIOUS        VARIOUS

                (B)                (C)                 (D)             (E)                (F)
               GROSS             COST OR            EXPENSE OF
            SALES PRICE        OTHER BASIS             SALE          DEPREC .         GAIN OR LOSS

                      32 .                    0 .              0 .              0 .                 32 .


          (A)                                                    MANNER        DATE
DESCRIPTION OF PROPERTY                                         ACQUIRED     ACQUIRED      DATE SOLD

ALLIANCE CAPITAL MANAGEMENT HOLDING                            PURCHASED     VARIOUS        VARIOUS

                (B)                (C)                 (D)             (E)                (F)
               GROSS             COST OR            EXPENSE OF
            SALES PRICE        OTHER BASIS             SALE          DEPREC .         GAIN OR LOSS

                     344 .                    0.               0 .              0.                 344 .


          (A)                                                     MANNER       DATE
DESCRIPTION OF PROPERTY                                          ACQUIRED    ACQUIRED      DATE SOLD

DIVIDENDS                                                      PURCHASED     VARIOUS        VARIOUS

                (B)                (C)                 (D)             (E)                (F)
               GROSS             COST OR            EXPENSE OF
            SALES PRICE        OTHER BASIS             SALE          DEPREC .         GAIN OR LOSS

                   8,980 .                    0 .              0 .              0.              8,980 .


CAPITAL GAINS DIVIDENDS FROM PART IV                                                                 0.

TOTAL TO FORM 990-PF,        PART I,   LINE 6A                                           <1,836,056 .>




FORM 990-PF     INTEREST ON SAVINGS AND TEMPORARY CASH INVESTMENTS                     STATEMENT       2


SOURCE                                                                                    AMOUNT

PLYMOUTH BANK                                                                                        6 "

TOTAL TO FORM 990-PF,        PART I,   LINE   3,    COLUMN A                                         6 .




                                                    19                 STATEMENT S) 1, 2
18041012    756258 GFDN                2002 .09000 THE GARFIELD FOUNDATION C/O GFDN   1
  THE GARFIELD FOUNDATION C/O BEHAN LING &                                                 22-2285358


FORM 990-PF               DIVIDENDS AND INTEREST FROM SECURITIES                        STATEMENT       3


                                                                  CAPITAL GAINS          COLUMN (A)
SOURCE                                      GROSS AMOUNT            DIVIDENDS              AMOUNT

DIVIDENDS & INTEREST THRU
ALLIANCE CAPITAL MGMT HOLDING                            204 .                  0.                  204 .
DIVIDENDS THRU BETHANY TOWERS
ASSOCIATES EIN # 22-2528096                            3,902 .                  0   .          3,902 .
FIDUCIARY TRUST AS NOMINEE                            40,330 .                  0   .         40,330 .
FIDUCIARY TRUST AS NOMINEE                           656,570 .                  0   .        656,570 .
FIDUCIARY TRUST AS NOMINEE                            12,525 .                  0   .         12,525 .
FIDUCIARY TRUST AS NOMINEE                           632,016 .                  0   .        632,016 .
LESS ACCRUED INTEREST PAID                            <2,578 .>                 0   .         <2,578 .>
MERRILL LYNCH AS NOMINEE                             218,927 .                  0   .        218,927 .
MERRILL LYNCH AS NOMINEE                              83,787 .                  0   .         83,787 .
TAX-EXEMPT INTEREST THRU BETHANY
TOWERS ASSOCIATES EIN #
22-2528096                                             6,136 .                  0.             6,136 .

TOTAL TO FM 990-PF,      PART I,   LN 4         1,651,819 .                     0.         1,651,819 .



FORM 990-PF                           RENTAL INCOME                                     STATEMENT      4


                                                                       ACTIVITY             GROSS
KIND AND LOCATION OF PROPERTY                                           NUMBER          RENTAL INCOME

BETHANY TOWERS ASSOCIATES LTD                                               1                122,386 .

TOTAL TO FORM 990-PF,      PART I,   LINE 5A                                                 122,386 .



FORM 990-PF                                 LEGAL FEES                                  STATEMENT      5


                                                                          (C)                (D)
                                     EXPENSES        NET INVEST-        ADJUSTED          CHARITABLE
DESCRIPTION                          PER BOOKS       MENT INCOME       NET INCOME          PURPOSES

LEGAL FEES                                18,377 .                0.                          18,377 .

TO FM 990-PF,   PG 1,    LN 16A           18,377 .                0.                          18,377 .




                                                      20              STATEMENT S) 3, 4, 5
18041012   756258 GFDN               2002 .09000     THE GARFIELD FOUNDATION C/O GFDN   1
  THE GARFIELD FOUNDATION C/O BEHAN LING &                                         22-2285358


FORM 990-PF                          ACCOUNTING FEES                            STATEMENT            6


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

ACCOUNTING FEES                       20,745 .          15,559 .                       5,186 .

TO FORM 990-PF,   PG 1,   LN 16B      20,745 .          15,559 .                       5,186 .




FORM 990-PF                               TAXES                                 STATEMENT            7


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

FOREIGN TAXES W/H                      1,308 .           1,308 .                                 0.

TO FORM 990-PF, PG 1,     LN 18        1,308 .           1,308 .                                 0.



FORM 990-PF                           OTHER EXPENSES                            STATEMENT            8


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

INVESTMENT MANAGEMENT FEES           338,149   .       338,149 .                           0         .
TELEPHONE                              5,593   .             0.                        5,593         .
RENTAL EQUIPMENT                         420   .             0.                          420         .
NON-DEDUCTIBLE EXPENSES                1,312   .             0.                        1,312         .
CONSULTING FEES                      219,538   .             0.                      219,538         .
BOOKKEEPING                            6,000   .             0.                        6,000         .
OFFICE EXPENSES                       12,206   .             0.                       12,206         .
ADMINISTRATIVE FEES                  194,194   .             0.                      194,194         .
INSURANCE                              7,828   .             0.                        7,828         .
MISCELLANEOUS EXPENSES                   895   .             0.                          895         .
FILING FEE                                50   .             0.                           50         .
DUES & FEES                               13   .             0.                           13         .
FOREIGN EXCHANGE FEE                     383   .           383 .                           0         .

TO FORM 990-PF,   PG 1,   LN 23      786,581 .         338,532 .                     448,049 .




                                                    21              STATEMENT S) 6,         7,       8
18041012   756258 GFDN             2002 .09000     THE GARFIELD FOUNDATION C/O GFDN              1
  THE GARFIELD FOUNDATION C/O BEHAN LING &                                22-2285358


                                         FOOTNOTES                     STATEMENT   9


                          SUPPLEMENTARY STATEMENTS

PART :   XV LINE :   2 SUPPLEMENTARY INFORMATION

THE ORGANIZATION'S PRIMARY ACTIVITY IS TO SUPPORT
BY CONTRIBUTIONS, OTHER ORGANIZATIONS QUALIFYING
FOR EXEMPTION UNDER 501 (C) (3) OF THE INTERNAL
REVENUE CODE . THE TRUSTEES CHOOSE THESE ORGANIZATIONS
BASED UPON THEIR KNOWLELGE OF THE ORGANIZATIONS'
ACTIVITIES . NO CONTRIBUTIONS, GRANTS, GIFTS, LOANS ETC .
ARE MADE TO INDIVIDUALS . THE ORGANIZATION DOES NOT
ACCEPT UNSOLICITED REQUESTS OR APPLICATIONS FOR FUNDS .




                                                22                    STATEMENT S) 9
18041012    756258 GFDN            2002 .09000 THE GARFIELD FOUNDATION C/O GFDN   1
                                                Portfolio Evaluation for

                                                Garffield Foundation/B
                                                                                                                                   SIOA
                                                                                                                                                                           1~                            -
                                                November 30, 2003               179-744425


                                                                                       %    Purchase      Cost/      Original      Market     ('anent         Gain/        Pct.         Annual       Y'IM/
                  Quanicy         Symbol                -Security Description         Value   Date_        unit        Cost         Price      Value          (Loss)       G/L          Income        YID

               Cash and Equivalents
                             fedinc       Federated Short Term US Govt                  9.8                         2,029,376.82             2,029,376 .82                              20,293 .77     1 .0
                             fedpri       Federated Short Term US Govt                 -0 .3                          -71,900.47               -71,900.47                                 -719 .00    -1 .0
               Cash and Equivalents TOTAL                                               9.5                         1,957,476.35             1,957,476.35                               19,574 .76     1.0


                Government Obligations
                     100,000 eao-4ogic     Eco-Logic Enterprise Ventures, Inc.          0.5 11-18-03      100.00     100,000.00    100.00      100,000.00          0.00           0.0    1,000.00      1 .0
                                           1 .000 % Due 05-18-04
                     100,000 rudotf        Rudolf Steiner Foundation                    0.5    11-24-03   100.00      100,000.00   100.00      100,000.00          0.00           0.0      80000       08
                                           0.800 % Due 060-04
                Government Obligations TOTAL                                            1 .0                          200,000.00               200,000.00 '        0.00           0.0    1,800.00      0.9


                Ginnie Mae Securities
                       5,737 36219scb3           GNMA #257566                           0 0 06-20-97      100.00        5,736.75    112.51        6,454.71       717.96         12 .5      57370          ?
                                                 10.000 % Due 03-15-19
                Ginnie Mae Securities TOTAL                                             0.0                             5,736.75                  6,454.71       717.96         125        573.70      0.0


                Corporate Bonds
                     150,000 163714ae8           NY Chemical Bk Sub NT                   0.8 09-17-93     106.47      159,705.00    106.83      160,245.00       54000            03      9,937.50     2.5
                                                 S&P A+ Moody AA3
                                                 6.625 % Due 08-15-05
                       500,000 001957ap4         AT & T Corp Bond                        2.7 08-11-94      99 .50     497,500.00    110.22      551,100.00    53,600 .00        10 .8    37,50000       3.2
                                                 S&P AA Moody AA3
                                                 7 500 % Due 06-01-06
                     1,000,000 590188es3         Memll Lynch & Co Inc Note               5.5   03-28-94     9678      967,800 00    113.19    1,131,900 .00   164,100 00          170    70,000 00      3.7
                                                 S8P AA Moody AA3
                                                 7.000 96 Due 04-27-08
                       250,000 617446ab5         Morgan Stanley Group Inc DEB            1 .5 03-01-93     125.38     313,450 00    124.16      310,400 00     -3,05000           -10    25,000 .00     4.1
                                                 S&P A+ Moody A1
                                                  10 000 96 Due 06-15-08



l'.0~ MF zth2 x 1, 1500, 000 ssrny^ x 300,000 6,psr x 500, 000
wpvlx 250 000 macsx 500,000 04125 ryjux 500,000
                                        Portfolio Evaluation for

                                         Garffield Foundation/B
                                         November 30, 2003              179-744425

                                                                                 96      Purchase   Cost/       101rional      Market     Cnnenc         Cain/         Pct.          Annual YIM/
               Quaniry        Symbol            Se curity Description          Value       Date      Unit         Cost          Prig       Value                       G/L           Income YLD
                                                                                                                                                         (LOSS)
                  250,000 927804cg7      Virginia EJec & Pwr Call 211103       . 1 .2    07-13-93   101 .03     252,575.00     100.63     251,575.00      1,000.00         -0 .4     113,1 25 .0-0 - 7 .2
                                         @100 .44        S8P A Moody A2
                                         7.250 96 Due 02-01-23
                  500,000 650094cb9      New York Tel Co DEB                     2.5 08-11-94        86.86      434,300.00     102.11     510,550.00     76,250 .00        176       35,000 .00         6.8
                                         S8P A+ Moody A2
                                         7.000 96 Due 12-01-33
             Corporate Bonds TOTAL                                              14 .1                          2,625,330.00              2,915,770.00    290,440.00        11 .1     195,562.50         4.4


              Preferred Stock
                    10,000 81906814      Canton Comm PLC PFD '96                  1.2    12-193      25 .00     250,000.00      25.00     250,000.00           0.00          0.0      20,000 .00        8.0    r
                      5,000 EQRpG        Equity Res Prop Tr Pfd Cv Cm             0.6    10-28-97    25.29      126,465.00      26.03     130,150.00       3,685.00          29        9,100.00         7 .0
                                         7.25961110 Sr
                                                                                                                                                                                                               Y


                    10,000 NWXpA         NaU Westminster Bank ser A 7.87596       1 .2   11-04-93    25 .00     250,000.00      25 .45     254,500.00      4,500.00          1 .8     20,100 .00        79
                     5,000 NWXpA         Natl Westminster Bank ser A 7.87596      0.6    07-1497     25 .15     125,762.50      25 .45     127,250.00      1,487 .50         1 .2     10,050 .00        7.9
                    15,000               Nat! Westminster Bank ser A 7.87596      1 .8               25 .05     375,762.50                 381,750.00      5,987.50          16       30,150.00         7.9

                      5,000 87549510     Rhone-Poulenc Overseas Ser PFD           0.6 07-07-93       25 .00      125,000.00      25.75     128,750 .00     3,750.00          3.0      10,156.00         7.9
              Preferred Stock TOTAL                                               4.3                            877,227.50                890,650.00     13,422.50          15       69,406.00         7 .8


              Common Stock

                Industrials

                    20,000 cd            Cendant Cory                             2.1 05-16-03        16 .03     320,574.00      2216      443,200.00    122,626 00         38 .3      5,600.00          1 3
                     5,000 cd            Cendant Cap                              0.5 07-18-03        1796        89,800.00      22.16     110,800.00     21,000.00         23 .4      1,400 .00         13
                     5,000 cd            Cendant Corp                             0.5 09-10-03        17.93       89,642 .00     2216      110,800.00     21,158 00         23.6       1,40000           1.3
                    30,000                Cendant Corp                            3.2                 16 .67     500,016.00                664,800.00    164,784 .00        330        8,400.00          1.3


                      2,500 emr           Emerson Elec Co                         0 7 01-08-02        57 .61     144,019.25      6104      152,600.00      8,580.75           60        4.00000          26
                      2,300 emr           Emerson Elec Co                         0 7 07-26-02        4881       112,263 00      6104      140,392 00     28,129 00          251        3,680.00         26
                        200 emr           Emerson Elec Co                         0.1 07-26-02        48 .80       9,760.00      6104       12,208 .00     2,448.00          25 .1        320 .00        26


N0C"!F n!he z',500,Q00 ssmg x 300,Q00 vrpsrx 500,000
wpvlx ?50,000 macsx 500,000 04/25 rylux 500,000


                                                                                                                                                                                                    G
                                       Portfolio Evaluation for

                                        Garfield Foundation/B
                                       November 30, 2003             179-744425

                                                                             96   Purchase        Cold        Original   Market             Gureac            Gain/          Pcz            Annual YIM/
               Quanity   Symbol               Secv rityDescliption         Value    Date          Unit          Cost      Price              Value            (-LOSS)        G/L            Income YL.D
             --- 2,500 emr              Emerson Elec Co                       07 09.02-03          56 .82     142,050.00   61 .04           152,600 .00       10,550 .00           7.4       4,000.00 2.6
              ---- 7,500                Emerson Elec Co                       2.2                  54 .41     408,092.25                     457,800.00       49,707 .75 --- -12.2          12,000.00 2.6


                   10,000 jec           Jacobs Engr Group                    2.2 10-31-03          44.82      448,200.00      45 .94         459,400.00   11,200.00              2.5           0.00         0.0
             ---    2,500 jec           Jacobs Engr Group                    0.6 11-12-03          43.87      109,669.00      45 .94         114,850.00 - 5,181 .00          _ - 4.7        -_ 0.00         0.0
                   12,500               Jaoobs Engr Group                    2.8                   44 .63     557,869.00                     574,250.00   16,381 .00             2.9           0.00         0.0

                                                                              8.2                            1,465,977.25                   1',696,850 .00   230,872.75 - _-15 .7           20,400 .00      1 .2

               Consumer Discretion
                   5,000 an             Autona6on                             0 .4    09-10-03     18.62       93,082 .00     17 .58           87,900.00      x,182 .00           -5 .6           0 .00     0 .0
                   2,500 bby            Best Buy Inc                          0.7     11-08 .02    19 .10      47,737 .50     62.00           155,000 .00    107,262 .50        224 .7        1,000.00      0 .6

                   17,351 I             Liberty Media Cory New Com Ser A      0.9     10-13-99      18 .86    327,261 .55     11 .05          191,728 .55    -135,533.00        X1 .4             0.00      00
                   16,000 I             Liberty Media Corp New Com Ser A      0 .9    019-02         9 .04    144,620 .80     11 .05          176,800.00       32,179 .20        22.3             0 .00     0.0
                       491              Liberty Media Core New Com Ser A      0 .0    12-03-02       6.00         294 .00     11 .05              541 .45         247 .45        84.2             0 .00     0.0
                    1,600 I             Liberty Media Cap New Com Ser A       0 .1    12-03-02       6.00       9,600 .00     11 .05    _      17,680 .00       8,080 .00        84.2       ---- -0 .00    -00
                   35,000               Liberty Media Cap New Corn Ser A      1 .9                  13 .77    481,776.35                      386,750 .00     -95,026 .35        -19 .7           0.00      0 .0



                    6,250    rcii       Rent-A-Center                         1 .0    06-04-03      28 .00     175,000.00     32 .49          203,062.50       28,062 .50          16 .0           0 .00    0 .0
                    8,750    rcii       Rent-A-Center                         1 .4    07-02-03      29.86      261,254 .70    32 .49          284,287 .50      23,032 .80           8.8            0 .00    0.0
                    15,000               Rent-A-Center                        2 .4                  29.08      436,254 .70                    487,350 .00      51,095 .30          117             0 .00    00

                                                                                                                                                      M
                                                                                                                                              2711,00 .w      124,17n M            V'r C
                                                                                                                                                                                   OA .~J          VM
                                                                                                                                                                                                   n.W      n .V
                     _, ~~   CI1IC
                             _1 ._       qt~fJPC
                                          ,_r....~                             1~     ~77~2         1A ~O      146,09A M
                                                                                                                   .iw.vv      77. 11
                                                                                                                               ci i            ~ 1                  vw                                      Vn

                     5,000   viab        Viacom CI   B                         0.9    04.09-01      44 .88     224,385.73      39.32          196,600.00      -27,785.73         -12 .4       1,200 .00     0 .6
                     5,000   viab        Viaoom G    B                         09     11-08-01      39.87      199,350 00      3932           196,600 .00      -2,750.00          -14         1,200 .00     0.6
                     2,500   viab        Viaoom CI   B                         0 .5   11-12-03      38.90       97,250 .00     3932            98,300 00        1,05000            1 1          600 .00     06
                     5,000   viab        Viacom CI   B                         0 .9   11-20-03      38 .25     191,250 .00     3932           196,600 00        5,35000            2 .8       1,200 .00     06
                    17,500               Viaoom CI B                           33                   40 .70     712,235.73                      688,100.00      -24,135 .73          -34        4,200.00      06


                                                                              100                             1,918,016 .28                  2,076,200 00     158,183 72             82        5,200 .00     03


          .!hs
MOC MF n x 1,500,000 ssmg.x 300,000 tvpsr.x 5^0,00O
wpvlx 250,000 macsx 500,000 0425 ryjux 500,000
                                          Portfolio Evaluation for

                                           Garffield Foundation/B
                                          November 30, 2003            179-744425

                                                                              96   Ruchase        Coed         Original Market           Gurent           Gain/         Pct.            Annual YTM/
                Quanity      Symbol             Security-Description         Value   Dace          Unu           Cost    Price            Va lue          (-LOSS)       G/L            Income YLD
                Consumer Staples - -       - - - - - --- -                                                    -      --      -          ---              ---                   --      -- - ---

                      2,000 ko             Coca Cda Co                         0.4 12 .31-93       40.00        80,000 .00     46 .50      93,000.00      13,000.00        16 .3        2,000.00    2.2
                      2,000 ko             Coca Cola Co                        0.4 04-18-01        47 .12       94,240 .00     46 .50      93,000.00      -1,2 40.00        -1 .3       2,000.00    2.2
                      4,000                Coca Cola Co                        0.9                 43 .56      174,240.00                 186,000.00      11,760 .00 ~ 67               4,000.00    2.2


                      4,000 d              Cdgate Palmolive Col .                0 019-02           54.55   218,208.00         52.50    210,000.00   -8,208.00  -3.8                    3,840.00  1 .8
                      1-000 d              Cdgate Palmolive CoO.                 3 11-12-03       . 52.93 _ 52-930 .00         52 .50 ,- 52,500.00 ___-430.00 - -0.8                      960.00 -A.8
                      5,000                Cdgate Palmolive Col .                3                  54 .23  271,138.00                  262,500.00   -8,638 .00 -3 .2                   4,800.00  1 .8

                                                                               2.2                              445,378.00                448,500.00       3,122.00 ! 0.7               8,800.00    2.0

                 Finanaals

                      2,000 aig            American InYI Group                 0.6 04-09-01        76 .70       153,398.73     57 .95      115,900.00   -37,498.73   -24.4               520.00     0.4
                      3-000 aig            American InYI Group                 0.8 07-26-02        54 .52       163-560 .00    57 .95   .- 173,850.00 _ 10,290 .00 J _ 6 3             _ 780.00     0.4
                      5,000                American Int'I Group                1 .4                63 .39       316,958 73                 289,750.00     -27,208.73           -8 .6     1,300.00   0.4


                      5,000 cof             Capital One Financial              1.4 07-17-03        47.12        235,600.00     5972        298,600.00      63,000.00        26.7          533.32    0.2
                      2,600 cof             Capital One Financial              0.8 028.03          51 .85       134,817.02     59 .72      155,272.00      20,454.98        15 .2         277.33    0.2
                        400 cof             Capital One Financial              0.1 09-02-03        55 .38        22,152 .00    59 .72       23,888.00       1,736.00         7.8           42 .67   0.2
                      8,000                 Capital One Financial              2 .3                 49 .07'     392,569 .02                477,760 .00     85,190 .98       217           853.31    0.2

                       1,500   c            Ciiigroup inc                       i .7   09-10-03     44 .10      330,735.75     47 .03      352,725.00      21,989 .25           6.6     12,000.00    34
                       5,000   fbf          FIeetBoston Finl Corp               1 .0   05-16-03     29.36        146,798.00    40.60       203,000.00      56,202 .00          38.3      7,000.00    3.4
                       5,000   gs           Goldman Sachs Group                 2.3    07-24-02     68.87       344,350.00     96.08       480,400.00     136,050.00           39.5      5,000,00    1 .0
                      10,000   mr           Renaissance Re Holdings             2.3    08-19.02     36 .95       369,487.00    4796        479,600 00     110,113.00           29 .8     9,562.50    20
                       7,500   spc          St Paul Cos Inc NPV                 1 .3   07-22-03     35 .29       264,701 .25   3710         278,250.00     13,548 75            5.1      8,700.00    3.1
                                                                               12.4                            2,165,599 75               2,561,485.00    395,885 25           18 .3    44,415 81    17

                 Health Care
                      10,000 flml           Flamel Technologies S.A ADR         1 .4   10-03-03     35.10       351,033.00      2868       286,800 00      X4,233 .00      -183              0.00    00
                       7,000 jnj            Johnson & Johnson                   1.7    03-27-01     40.95       286,626.55      4930       345,100.00       58,473 45       204          6,720.00    1 9

NOC him nihe .x 1,500,000 ssmg x 300,000 wpsr x 506,000
wpvlx 250,000 macsz 500,000 04125 ryjux 500,000
                                          Portfolio Evaluation for

                                           Garfield Foundation/B
                                          November 30, 2003             179-744425


                                                                               96     Purchase     Cost/        Original     Market    Current            Gain/          Pct         Annual YIM/
                Quaniry    Symbol                 Security Desaiption         Value     Date       Unu            CASs        Price     Value             (Loss)         G/L         Income YLD
                 _- 8,000 mdt              Medtronic ~        ---                1 .7 05-07-97      16 .51    -i-32.1 1 0.00 --45 .20 -1,606-
                                                                                                                   -                   36 - 00          -229,490.00     ^173 .7       2,320.00 0.6

                     10 .000 pfe           Pfizer Inc                           1 .6 07-25-02       28.21      282,100.00      33 .57     335,700.00      53,600 .00        19 .0    6,800.00     2.0
                      2,500 pfe            Pfizer Inc                           0.4 05-02-03        31 .70      79,250.00      33.57       83,925.00       4,675.00          5.9     1,700.00     2.0
                     12,500                Pfizer Inc                           2.0                 28.91       361,350.00                419,625.00      58,275.00         161      8,500.00     2.0

                     10,000    tpth        Tripath Imaging                        0.4 11-12-03       9.05       90,531 .00      9.13        91,300 00       769.00           0.8          0.00    0.0
                                                                               -- 7 .3                        1,221,650.55               1,504,425.00    282,774.45         23.1     17,540.00    1.2

                 Information tech

                       5,000   fdc         First Data Corporation                0.9   04-18-01      33.06     165,300.00      37 .85 189,250.00          23,950.00         14 .5      400.00     0.2
                       2,500   fdc         First Data Corporation                0.5   08-19-02      37 .64     94,090 .00     37 .85  94,625 .00             535.00         0.6       200.00     0.2
                       2,500   fdc         First Data Corporation                0.5   07-18-03      40 .28    100,700.00      37 .85  94,625 .00          x,075.00         .6 .0      200.00     0.2
                       2,500   fdc         First Data Corporation                0.5   09-02-03      40 .12    100,300.00      37 .85  94,625 .00          -5,675 .00       -57        200.00     02
                  -- - 2.500   fdc         First Data Corporation              - 0.5   11-12-03    _ 37 .62 _ _ 94 ,050.00     37.85 ~ 94,625 .00        _ 575.00         _ 0.6         200.00    0.2
                     15,000                First Data Corporation                27                  36 .96    554,440.00             567,750.00           13,310.00         2.4      1,200.00    0.2

                       5,000 ibm            Int'I Business Machines              2.2   10-22-99      93 .47     467,325.00     90 .54      452,700.00     -14,625 .00        -3 .1    3,200 .00   0.7

                     14,000 msft            Microsoft Core Wash                  1 .7 01-14-03       28 .38     397,250.00     25.71       359,940 00      37,31000          -9 .4    2,24000     06
                      1,000 msft            Microsoft Corp Wash                  0.1 09-19-03        29.98       29,975.00     25 .71       25,710.00      x,265.00         -14 .2      16000     0.6
                     15,000                 Microsoft Corp Wash                  1 .9                28 .48     427,225.00                 385,650.00     X1,575 .00         -9 .7    2,400.00    0.6


                       5,000 optk           Optika                               01    03-28-00      26 .53     132,645 50       4.35       27 ,750 .00 -110,895 50         43 6          0.00     0n
                      10,000 optk           Optika                               0.2   04-10-00      19 .54     195,356.00       4.35       43,500.00 -151,856.00           -17.7         000      00
                       5,000 optk           Optika                               01    08-21-03       2.38       11,895 .00      4 35       21,750 .00     9,85500           828          000      00
                       1,800 optk           Optika                               0.0   08 .27-03      2.48         4,456.98      4.35         7,830.00     3,373.02          75 .7        0.00     00
                       2,400 optk           Optika                               0.1   08-29-03       2.38         5,712 .00     4 .35      10,440 .00     4,72800           82 .8        000      0.0
                       5,000 optk           OpGka                                0.1   09-05-03       2.46        12,317 .00     4.35       21,750 .00     9.43300           766          000      00
                       4,400 optk            Optika                              01    09-08-03       238         10,472 .00     4.35        19,14000      8,66800           828          000      00
                         600 optk            Optika                              0.0   09-09-03       238          1,428.00      435          2,61000       1,18200          828          000      00
                        1,885 optk           Optika                              00    09-11-03       218          4,10930       4 .35        8,199 75     4,09045           995          000      00
                        1,250 optk           Optika                              0.0   09-12-03        218         2,725.00      435          5,437.50     2,71250           995          000      00
                           SOo ptk           Optika                              0.0    09-22-03       2.38          119.00      4.35           217.50        9850           828          000      00

!HOC 1!!F nEha z 1,500,000 ssmg z 300,00 wpsr z 500,000
wpvlx 250,000 macsx 500,000 04125 ry~ux 500,000
                                           Portfolio Evaluation for

                                           Garffield Foundation/B
                                           November 30, 2003               179-744425

                                                                                  %          P=hase      Cold        Original     Market    Cwmnt              Gain/         Pct         Annual YTM/
               Quaniry          Symbol              SecuiuyDes aiprion           Value         Date       Unit         Cost        Price     Value            (-Loss)       G/L          Income YLD
                   5,000      optk ---     Optika                                  0.1       09-26-03       2.28      11,400 .00     4 .35 J 21,750.00         10,350 .00 -- 90 .8           0.00 0.0
                    1,865     opUc         Optika                                  0.0       0930-03        218         4,065.70     4.35      8,112.75         4,047.05       99 .5         0.00 0.0
                    2,000     optk         Optika                                  0.0       09,30-03       2.34        4,680.00     4.35      8,700.00         4,020.00       85 .9         0.00 0.0
                      615     optk         Ophka                                    0.0      09,30.03       2.34        1,437.87     4.35      2,675.25         1,237.38       86.1          0.00 0.0
                    5,000     opUc         Optika                                   0.1      11-03-03       3.99       19,961 .00    435      21,750 .00        1,789.00         9.0         0.00 0.0
                    5,000     optk         Optika                                   0.1      11-11-03       4.02       20,100 .00    4.35     21,750.00         1,650.00         8.2         0.00 0.0         -~J
              -_56,865                     Optika                                   1 .2                    7.79     442,880.35              247,362.75      -195,517 .60 -- -114 .1         0.00 0.0


                    10,000    ord           Orade Sys Cory                          0.6 04-09-99            6.32       63,170.12     12 .02    120,200.00      57,029 .88       90.3         0.00     0.0
                    10,000    ord           Oracle Sys Corp                         0.6 09-02-03           13 .51     135,11 0.00    12.02     120,200 .00    -14,910.00       -11 .0        0.00     0.0
               ----20,000                   Oracle Sys Corp                         1 .2                    9.91      198,280.12               240,400.00     42,119 .88        21 .2        0.00     0.0


                      2,500 qcom            QUALCOMM                                 0.5     04-23.03      33 .17      82,920 .25    44 .55    111,375.00      28,454 .75       343         700.00   0.6
                      7_500 qcom            QUALCOMM                                 1 .6    05-08-03    _ 30 .67     230,018.25     44 .55    334_125.00     104_106.75        45 .3     2,100 .00 -0-.6
                     10,000                 QUALCOMM                                 2.2                   31 .29     312,938.50               445,500.00     132,561.50       '42.4      2,800.00   0.6


                      5,000 xlk             Technology Select Sector SPDR            0.5     12-17-02      16.06        80,324 .50   19 .90     99,500.00      19,175 .50       23 .9      705.00     0.7
                                            Fund
                     10,000 xlk             Technology Select Sector SPDR            1 .0 01-02-03         15 .57     155,700.00     19 .90    199,000.00      43,300 .00       27 .8     1,410.00    07
                                            Fund
                     15,000                 Technology Select Sector SPDR            1.4                   15 .73     236,024.50               298,500.00      62,475 50         26 .5    2,115.00    0.7
                                            Fund

                                                                                    12.7                             2,639,113 .47            2,637,862.75      -1,250 .72        0.0    11,715 .00   0.4

               Common Stock TOTAL                                                   52 .8                       ~ 9,855,735.30           Q 10,925,322 75 1,069,587.45            109 108,070.81        1 .0



               Publicly-Traded Partnerships

                      6,500 ac               Alliance Cap Mgt Holding LP              1 .0    08-14-02      32 .09     208,564 20    3220      209,300 00         735.80           0.4   14,820 .00    71
                      1,100 ac               Alliance Cap Mgt Holding LP              0.2     08-15-02      32 .64      35,904 00    32 .20     35,420 .00        -48400          -1 3    2,508 .00    71
NOC MF nfhe x 1, 500,000 ssmg x 300, 000 wpsr x 500,000
wpvlx 250,000 macsx 500,000 04125 ryjuz 500,000
                                           Portfolio Evaluation for

                                           Garffield Foundation/B
                                           November 30, 2003             179-744425

                                                                                 96   Purchase      Cost/        Original   Market         Current          Gain/          Pct.          Annual       Y'IM/
                Quaniry    Symbol                  SecurityDesaiption           Value   Date        Unu            Cost      Price          Value           (LOSS)         G/L           Income        YLD
                    2,400 ac               Alliance Cap Mgt Holding LP            0.4 0&19-02        33 .73       80,946.24   32 .20        77,280 .00      -3,666.24          4.5        5,472.00      7.1
                    5,000 ac               Alliance Cap Mgt Holding LP            0.8 010-03         34 .47      172,348.00   32 .20       161,000.00      -11,348.00         -6 .6      11,400.00      7.1
                    15,000                 Alliance Cap Mgt Holding LP            2.3                33 .18      497,762.44                483,000.00      -14,762.44      _- -3.0       34,200 .00     7.1

              Publicly-Traded Partnerships TOTAL                            2.3                                  497,762.44                483,000.00      -14,762.44      ---3.0        34,200 .00     7.1
                                                                111 Nc~ISTWENT `10 TN1;
                                                                                             (bk151S           ~~~2lSo~~
              Foreign Common Stock
                                                                                                                ~t'10 ~ ~`l . 43
                Not Classified

                    31,700 ewj             iShares Inc MSCI Japan Index Fd        1.4 01-06.03        7.25       229,825.00     8.96   284,032.00   54,207 .00               23 .6           63 .40     00
                  --18,300 ewj             iShares Inc MSCI Japan Index Fd        0.8 01-07-03       _7 .08      129,564 .00    8.96 ^163,968.00 __ 34,404 .00            `_ 26 .6           36 .60     0.0
                    50,000                 iShares Inc MSCI Japan Index Fd        2.2                 7.19       359,389.00            448,000.00   88,611 .00               24 .7          100.00      0.0

                                                                                  22                             359,389.00             ~ 448,000.00        88,611 .00 - ---24.7            10000       0.0

              Foreign Common Stock TOTAL                                           2.2                     Q 359,389.00                 (2)448,000 .00      88,611 .00         24 .7        100.00      0.0

                                                                                                                                  ~      ~ i 1'3~332~ .'1 S

              Mutual Funds

                47,884 .6790     macsx      Matthews Asian Growth Income Fund      3.1   01-13-03     10 .57      506,253.60   13 .33       638,302.77     132,049.17          26 .1     10,769 26       17
                24,10B 0040      ryjux      Rydex Juno Fund Inv.                   2.5   07-14-03     20 .74      500,000.00   21 .29       513,259.41      13,259 .41           2.7          0.00       0.0
                11,809.1640      wpvlx      Weitz Partner Value                    12    n19-02       211.7       25^,,M".~    20.84        246,1D22 .98     -3,697 .u2         -1 .6       23264        01
                40,410 .8850     wpsrx      Westport Small Cap CI R                4.1   04-28-99     1311        529,972.26   2107         851,457.35     321,485.09          607        1,35376        0.2
               Mutual Funds TOTAL                                                 10.9                     Q 1,786,225 .86              02,249,122.50      462,896.64             259     12,355 67      0.5


               Mutual Bond Funds

                85,840 3290 nthex           Northeast Investors Trust              3.0 02-11-03        7 .09      W335 16       7.23        620,625.58      12,290.42              2.0    48,928 99      79
               Mutual Bond Funds TOTAL                                             3.0                        ~ 608,335 .16              G20,625.58         12,290.42              20     48,928 99      7.9


NOC MF nthe. x 1, 500,000 ssmg x 300,000 wpsr x 500.000
wpvlx 250,000 mecsx 500,000 04125 ryjux 500,000                                                           v 231 4 561 e *2 9 6" ,-2
                                         Portfolio Evaluation for

                                         Garffield Foundation/B
                                         November 30, 2003            179-744425

                                                                              96   Purchase      Coed        Original        Market     Current         Gain/         Pct.         Annual       YIM/
               Quanicy       Symbol             SecuricyDesuipuoa            Value   Dare         Una          Cost           Price      Value__ _      (Loss)        G/L          Income        YLD

             TOTAL                                                           100 .0                        18,773,218.36              20,696,421 .89 1,923,203 .53       102 490,572.43          2.0

             SPECIAL HOLDINGS

             Special Situations

               Not Classified
                       277 capital       Capital Preservation Partners LLC            03-04-03 1,445.40      400,000.00 1,559.57         431,595 40      31,595 .40        7 .9         0.00  0 .0
                  400,000 firtree        Fir Tree Recovery Fund                       06-30-03     1 .00      400,000.00    1 .04        416,320 00      16,320 .00        4.1          0.00  0.0
                     4,000 libra2        Libra Offshore Limited                       06-30.03   100.00       400,000.00 112.04          448,160.00      48,160.00        12.0          0.00  0.0
                  400.000 longcap        Longaae Capital Partners L.P.                0630-03      1.00       400,000.00    1 .07     __ 428,480.00      28-480.00         7.1    __    0.00 -0.0
                                                                                                            1,600,000.00                1,724,555 40    124,555.40         7 .8         0.00  0.0

              Special Situations TOTAL                                                                      1,600,000.00                1,724,555.40    124,555.40 -- - '- 7.8     - - - 0.00     0.0




              SPECIAL HOLDINGS TOTAL                                                                         1,600.000 .00              1,724,555.40    124,555.40           78          0.00     0.0

              GRAND TOTAL                                                                                   20,313,218 .36             22,420,977 .29 2,047,758.93        101     490,572.43      1.9




NOC MF nthe x 1.500.000 ssmg x 300,000 wpsr x 500,000
wpvlx 250,000 macsx 500,000 04125 ryjux 500,000
                            Portfolio Evaluation for
                                                                                                                    S1             0-T                     P---)
                            Garfield Foundation/F
                            November 30, 2003              140688805

                                                                   96      Purchase    Cold        Original       Marlaec     Cuneat         Gain/          Pct.          Annual       YIM/
  Quanity       Symbol              Security Description         Value       Date      Unit-         Cost          Price       Vatue         (Loss)         G/L           Income        YID


Cash and Equivalents
               fedinc      Federated Short Term US Govt            0.0                                8,533.14                   8,533.14                                     85 .33     1 .0
               fedpri      Federated Short Term US Govt           11 .2                           2,512,336.86               2,512,336.86                                 25,123 .37     10
Cash and Equivalents TOTAL                                        11 .3                           2,520,870.00               2,520,870.00                                 25,208 .70     1 .0   ^


Government Obligations
    250,000 9128275x6      U S Treasury Note                        1 .1   04-28-99     98.30      245,742.00      100.80      252,000.00     6,258.00             25     11,875 00      09
                           4.750 96 Due 02-15-04
     100,000 eco-logic     Eco-Logic Enterprise Ventures, Inc.     0.4     11-18-03    100.00       100,000 .00    100.00      100,000.00         0.00             0.0     1,000.00      10
                           1 .000 96 Due 018-04
     100,000 rudolf        Ruddf Steiner Foundation                 0.4    11-24-03    100.00       100,000.00     10000       100,000.00         0.00             0.0       800.00      0.8
                           0.800 % Due 06-30-04
     125,000 31359mdj9     Federal Nat Mtg Assn Medium              0.6    02.09-98     99.34       124,180.00     109.36      136,700.00    12,520 00         10 .1       7,18750       3.3
                           5.750 % Due 02-15-08
     250,000 9128274v1     U S Treasury Notes                       1.2 04-28-99        96 .11      240,273.00     106.46      266,150.00    25,877 .00        108        11,875 00      26
                           4.750 96 Due 11-15-08
Government Obligations TOTAL                                        3.8                             810,195 .00                854,850.00    44,655 .00            55     32,737 .50     18


Ginnie Mae Securities
       5,736 36219scb3        GNMA #257566                          0.0    01-01-60     100.00        5,73631      112.51        6,453.65       717.34             12.5       573.61
                              10.000 96 Due 03-15-19
      140,181   36210qcb6     GNMA Assn Mtg PI                       0.7 06-30-99        98 .23     137.705 .74    106.46      149.236 .47    11 .530 73            8.4     9.81266
                              7.000 % Due 06-15-29
Ginnie Mae Securities TOTAL                                          0.7                            143,442.05                 155,690.12     12,248 .07            8.5    10,386 .26     0.0


 Corporate Bonds
      150,000 163714ae8       NY Chemical Bk Sub NT                  0.7    09-17-93    106.47       159,705.00     106.83      160,245.00       54000              0.3     9,93750       25
                              S&P A+ Moody AA3
                              6 625 % Due 08-15-05
      500,000 375766ad4       Gillette Co Note                       2 4 08-11-94        8789        439,450.00     10615       530,750.00    91,300 00            20.8    28,750 00       24
                              S&P AA Moody AA3
                              5 750 °k Due 10-15-05
      500,000 001957ap4       AT & T Cory Bond                        2.5 08-11-94       99 .20      496,000.00     110.22      551,100.00    55,100 00            11 1    37,500 .00      32
                              S&P AA Moody AA3
                               7.500 % Due 06-01-06
                         Portfolio Evaluation for

                         Garfield FoundationlF
                         November 30, 2003            140688805

                                                                  96        Puirbue     Cosd       Original        Market      Gureat           Gain/        Pct         Annual        Y'TM/
 Quanity       Symbol           Seauity Description             Value         Date      Unit         Cost           Prig        Value           Rms)         G/L         Income         YLD
  1,000,000 590188es3    Memll Lynch & Co Inc Note                5.1       03-2&94     96 .78     967,800.00      113.19     1,131,900.00     164,100.00       17 .0    70,000 .00      3.7
                         S8P AA Moody AA3
                         7.000 % Due 04-27-08
    250,000 617446ab5    Morgue Stanley Group Inc DEB              1 .4     03-01-93    125.38      313,450.00     124.16      310,400.00       x,050.00        -1 .0    25,000 .00      4.1
                         S&P A+ Moody A1
                         10.000 % Due 06r15-08
    250,000 927804cg7    Virginia Elec & Pwr Call 211103           1 .1     07-13-93    101 .03     252,575 00     100.63      251,575.00       -1,000 .00      -0 .4    18,125 .00      7.2
                         @100.44         S&P A Moody A2
                         7.250 96 Due 02-01-23
    250,000 748148pb3    Quebec Prov Canada DEB                    1 .4     07-13-93    102.71      256,775.00      121 .93    304,825.00       48,050 .00      18 .7     18,750.00      5 .6
                         S&P A+ Moody A2
                         7.500 96 Due 07-15-23
    500,000 650094cb9    New York Tel Co DEB                       2.3 08-11-94          86 .86     434,300.00      10211       510,550.00      76,250 .00      17.6      35,000 .00     6.8
                         S&P A+ Moody A2
                         7.000 96 Due 12-01-33
Corporate Bonds TOTAL                                             16 .8                            3,320,055.00               3,751,345.00     431,290.00        13 .0   243,062.50      4.3


Preferred Stock
       10,000 81906814    Canton Comm PLC PFD *%                   1.1 12 .31-93         25 .00     250,000.00       25.00      250,000.00           0.00         0.0      20,000.00    80
       10,000 NWXpA       Natl Westminster Bank sec A 7.87596      1 .1 11-04-93         25 .00     250,000.00       25 .45     254,500.00       4,500.00         18       20,100.00    7.9
        5,000 87549510    Rhone-Poulenc Overseas Ser PFD           0.6 07-07-93          25 .00     125,000.00       2575       128,750 00       3,750.00     _ _ 3.0    _ 10,156 .00 _ 7.9
Preferred Stock TOTAL                                              2.8                              625,000.00                  633,250.00       8,250.00         1 .3     50,256 .00   7.9


Common Stock

  Materials

         800 dd           Du Pont E I De Nemours Co                 0.1      02-04-00     59.09       47,272 .00     4146         33,168 .00    -14,10400       -29.8       1,12000       3.4
         800 dd           Du Pont E I De Nemours Co                 0.1      10-03-03     41 .04      32,832.00      4146         33,168 .00        33600         10        1,120.00      3.4
       1,600              Du Pont E I De Nemours Co                 0.3                   50 .07      80,104 .00                  66,336 00     -13 .76800       -172       2,240.00      34

       4,000 pd           Phelps Dodge Cory                          1 .1    02-14-02     35 .90     143,600 00       6368       254,720.00     111,120 00         774          000       00
                                                                     14                              223,704.00                  321,056 00      97,352 00         435      2,240.00      0.7

   Industrials
         7,000 mmm        3M Company                                 2 5 04-27-99         40 .49     283,413 00       7904       553,280.00     269,867 00         952     10,080 .00      1.8
                                                                                                                                                                                         Y




                          Portfolio Evaluation for

                          Garffield Foundation/F
                          November 30, 2003             140688805

                                                              %        Purchase    Cost       Original    Market         Current        Gain/          Pct.          Annual YTM/
   Quanicy       Symbol           Security Desaiption        Value       Date      Link         Cost       Price          Value         (LOS S)        G/L           Income YLD
        2,400   bni       Burlington Northn Inc                0.3     03-31-97     24 .95     59,880 .00   29 .77         71,448 .00   11,568 .00        19 .3       1,440.00   2.0
          600   bni       Burlington Northn Inc                0.1     03-31-97     24 .89     14,932 .00   29 .77         17,862 .00    2,930.00         19.6          360.00   2.0
          900   bni       Burlington Nathn Inc                  0.1    05-20-97     26 .78     24,105.00    29 .77         26,793 .00    2,688.00         11 .2         540.00   2.0
        1,800   bni       Burlington Nathn Inc                  02     06-13-97     28 .86     51,954.00    29 .77         53,586 .00    1,632.00            31       1,080.00   2.0
_. -----2_400   bni       Burlington Northn Inc                 0.3    07-16-97     31 .76     76,222.00    29 .77         71,448.00     x,774.00           ~6 .3     1,440.00 _ 2.0
        8,100             Burlington Northn Inc                 1 .1                28 .04    227,093.00                  241,137.00    14,044 .00           6.2      4,860 .00  2.0


       3,800 cnf          CNF Transportation Inc               0.6 03-19-98         37 .63   143,004.00       33 .42      126,996.00  -16,008.00           -11 .2     1,520.00    1 .2
       3,800 rnf          CNF Transportation Inc             - 0.6 09-05-03         30 .31 _ 115,1 79 .52     33 .42      126,996.00 - 11,816 .48           10 .3     1,520.00    1 _2
       7,600              CNF Transportation Inc               1.1                  3397     258,183.52                   253,992.00   x,191 .52             -1 .6    3.04000     12


       2,500 etn          Eaton Corp                            1 .2 06-19-97       77 .30     193,258.48     102.99      257,475.00    64,216.52           33.2      2,700.00    1 .0
       1-000 etn          Eaton Corp                            0.5 04-28-99        76 .72      76,715.96     102.99      102,990.00    26,274.04           342       1,080.00    1 .0
       3,500              Eaton Corp                            1 .6                7714       269,974.44                 360,465.00    90,490 .56          335       3,780.00    1 0

        6,000 ge          General Electric Company              0.8 06-197           21 .99    131,930.00      28.67      172,020.00     40,090 .00         30 .4     4,800.00    2.8

        2,000 hon         Honeywell Int'I                       0.3 03-31-97         3599       71,975.00      29.69       59,380 .00   -12,595.00         -17.5      1,50000     25
          600 hon         Honeywell IM'I                        0.1 03-31-97         3652       21,911 00      29 .69      17,814 .00    x,097.00          -187         45000     25
          800 hon         Honeywell InCI                        0.1 05-20-97         37 .61     30,090 .00     29 .69      23,752 .00    x,338.00          -211         60000     2.5
        3,400             Honeywell InYI                        0.5                  36 .46    123,976.00                 100,946.00    -23,030 .00        -186       2,550.00    2.5

        6,000 tyc         Tyco International Limited            0.6 07-18-02         14 .47     86,820 .00     22 .95     137,700.00     50,880- 00          58 .6      3000 00   02
        3,v"u0 ups        United Parcel Service                 1.0 07-18-01         58.37     175,121 .10     7277       218,310.00     43,188 90           24 .7     3,36000    1 .5
                                                                 9.1                          1,556,511 .06              2,037,850.00   481,338.94           30 .9   32,77000     16

   Telecommunication
        2,400 1            AT&T Core                             0.2    06-24-02     1924        46,181 52     19 .83      47,592 .00      1,410 .48         31        2,28000    48
        3,881 cmcsa        Compst Corp New G A                   0.5    06-24-02     1992        77,290 51     31 .60     122,639.60      45,349 .09        587            000    00
       12,000 nxtl         Nextel Comm Inc CI A                  1.4    04-18-02      4.65       55,800 00     25 .33     303,960.00     248,160.00        4447            000    00
        2,780 vz           Verizon Communications                0.4    02-04.00     7004       194,700.00     32 .84      91,295 .20   -103,404 .80       -531        4,28120    47
                                                                 2.5                            373,972 03                565,486.80     191,514 77         512        6,56120    1 2

   Consumer Discretion

        1,200 bwa          Borg Warner Automotive                 0.4 05-20-97       4756        57,072 00      79 .00      94,800 00     37,728 .00         66.1      1,200 00    1 3
                        Portfolio Evaluation for


                        Garfield Foundation/F
                        November 30, 2003             140688805

                                                            96       Purchase    Cost/      Original       Macisec     Guienc          Gain/              Pct.           Annual       Y'IM/
 Qu anity      Symbol          Security Description        Vaue        Date       Um          Cost          Price       Vahie          (Lass)             G/L            Income        YLD
        600 bwa         BorgWamerAutomotive                  0.2 06-197           51.59      30,954 .00     79.00       47,400.00   16,446 .00               53.1    600 .00            1 .3
      1,200 bwa         BorgWarner AutomoUve                 0.4 04-28-99         57.10      68,520 .00     79.00       94,800.00 _ 26-280.00                38.4 _ 1,200.00            1 .3
      3,000             Bcxg Warner AutomoUve                1 .1                 52.18     156,546.00                 237,000 .00  80,454 .00               51 .4  3,000.00            1 .3
                                                                                                                                                                                                ~1
        800   fd        Federated Dept Stores                 0.2 020-97          38 .44     30,748.00       49.09    39,272 .00    8,524.00             27 .7              400.00      1 .0
      2,400   fd        Federated Dept Stores                 0.5 05-21-97        38 .38     92,107 .00      49 .09  117,816.00    25,709 .00            27 .9            1,200.00      1 .0
        800   fd        Federated Dept Stores                 0.2 06-197          37 .72     30,172 .00      49 .09   39,272.00     9,100.00             30 .2              400.00      1 .0
      1,000   fd        Federated Dept Stores                 0.2 07-16r97        37 .03     37,028 .00      49 .09 - 49,090 .00 _ 12-062.00         - _ 32 .6           _- 500.00      1.0
      5,000             Federated Dept Stores                 1 .1                38 .01    190,055 .00              245,450.00    55,395 .00         .      29 .1        2,500.00      1.0

      9,000 gmh         General Motors CI H                   0.7    07-25-97     10 .70     96,283.00       16.60     149,400.00      53,117 .00            55 .2            0.00      0.0

      4,000 nwsa        News Corp Ltd Spd Pref ADR            0.5 0331-97          15 .23     60,900 .00     28 .36   113,440.00        52,540.00            86 .3           760.00   07
_-_-6-000 nwsa          News Corp Ltd Spd Pref ADR          --0 .8 06-197        _ 15 .45     92,670 .00     28 .36 - 170,160.00        77,490.00 _          83 .6         1,140.00 _ 0.7
     10,000             News Carp Ltd Spd Pref ADR            1 .3                 15.36     153,570.00               283,600.00       130,030.00            84 .7         1,900.00   0.7

      3,033 rtrsy       Reuters Group plc ADR                 0.3 09-25-02        22 .50      68,242.50      25.78       78,190 .74      9,948.24            14 .6         3,220.80     41

    8,550     spls      Staples                               1.0    07-06-98     21 .04     179,906.00      27.11      231,790.50      51,884 .50           28 .8            0.00  0.0
    2,350     spls      Staples                               0.3    08-11-00     16 .89      39,681 .87     27 .11      63,708 .50     24,026 .63           60 .5            0.00  0 .0
    1,400     spls      Staples                               0.2    08-11-00     16 .89      23,640 .26     27 .11      37,954.00      14,313.74            605              0 .00 0.0
- _ 2`000     spls      Staples                               0.2    02-20-01     16.94       33,875 .00     27 .11      54,220 .00     20,345.00            601             0.00 - 00
                                                                                                                                                                              0.00  .
   14,300               Staples                               1 .7                19.38      277,103.13                 387,673.00     110,569.87            39 .9            0.00    0.0


     10,000 toy          Toys'R' Us                           0.5 11-27-02         13 .90    139,000 00       11 .74    117,400.00     -21,600.00            -15 .5            000       00
     10,000 toy          Toys'R Us                            0.5 07-24-03         11 .80    118,000.00       11 .74    117,400.00        X00.00              -0 .5            0.00      00
     20,000              Toys'R' Us                           1 .0                 12.85     257,000.00                 234,800.00     -22,200.00                -86           000       0.0

                                                              7.2                           1,198,799.63               1,616,193 .74   417,31411                 34 .8    10,62080       07

  Consumer Staples
      5,000 cvs          CVS Corp                              0.8    12-10-01     2739      136,950.00       37 .46     187,300 00     50,350.00                368       1,32500        0.7

       2,000 pg          Procter & Gamble Co                   0.9    06-13-97     7086      141,721 .87      96 .24     192,480 00     50,758.13                35 .8     3.64000        1 9
         600 pg          Prudes 8 Gamble Co                    0.3    02-20-01     7354       44,123 .88      9624        57,744 .00    13,62012                 309       1,09200        19
                                                                                                                                                                                        F




                     Portfolio Evaluation for


                     Garfield FoundationlF
                     November 30, 2003              140688805

                                                           96    Purchase         Cost/       Original    Market       Current         Gain/      Pct.            Annual Y'IM/
Quanity _   Symbol           Security Description        Vahie     Date            Unit         Cost       Price        Value         (-Loss)     G/L             Income YLD
     1,400 pg        Procter 8 Gamble Co                    0.6 07-18.01            68.84      96,371 .66   96.24       134,736.0 0 _ 38,364.34 _    39.8          2,548.00 1 .9
    4,000            Procter 8 Gamble Co                    1 .7                    70.55     282,217.41               384,960.00 102,742 .59        36 .4         7,280.00 1.9

    5,000 syy        Sysco Cap                             0.8         07-18-01    29 .16     145,800.00     36 .32     181,600 .00    35,800 .00       24 .6      2,600.00      1 .4

    4,000 wag        Walgreen Company                       0.7 03-31-97           10 .62      42,475 .00    36 .81     147,240.00     104,765.00      246.7         688.00      0.5
    1,200 wag        WalgreenCompany                        0.2 03-31-97           10 .57      12,686.00     36 .81      44,172 .00     31,486 .00     248.2         206.40      0.5
    2,000 wag        Walgreen Company                       0.3 020-97             11 .49      22,988 .00    36.81       73,620.00      50,632 .00     220.3         34 4.00     0.5
    7,200            Walgreen Company                       12                     10.85       78,149 .00               265,032.00     186,883.00      239.1       1,23840       0.5

                                                            4.6                               643,116.41               1,018,892.00    375,775.59       58 .4     12,443 .40     12

Energy
     4,222 ahc       Amerada Hess Core                      0.9 01-01-60           46.37      195,795.00     47.37      199,996.14       4,201 .14        2.1      5,066.40      2.5

    4,000     by     BP Plc                                 0.8        121-93       13 .50      54,000 .00   42 .69     170,760.00     116,760.00      216 .2       7,740.00     4.5
     2,116    by     BP Plc                                 0.4        03-31-97     33 .21      70,280 .00   42 .69      90,332 .04     20,052.04       28 .5       4,09446      4.5
       694    by     BP Plc                                 0.1        03,31-97     33 .26      23,084.68    42 .69      29,626 .86      6,542 .18      28.3        1,342.89     45
   __ 794     by     BP Plc                               - 02         020-97       33 .10      26,280 .00   42 .69      33,895. 86      7,615.86 ____ 29 .0      _ 1,5_3639     45
     7,604            BP Plc                                1.5                     22.84      173,644.68               324,614.76     150,970.08       86 .9      14,713 74     45


     4,000    xom     Exxon Mobil Corp                      0 .6       06-24-93     14 .00      56,000 00    36.20       144,800 .00    88,800.00       158 .6       4,000 .00    28
     2,000    xom     Exxon Mobil Cory                      0 .3       03,31-97     26 .87      53,738.00    36 .20       72,400.00     18,662.00        347         2,000.00     28
   _ 2_000    xom     Exxon Mobil Corp                      0 .3       07-06-98     36 .61      73??6 np     36 .20       ?2,;00.00       -32o .00    _ -11       __ 2,000.00     28
     0 .000           Exxon Mobil Corp                      1 .3                    22.87      182,964 .00               289,600.00    106,636 .00       58 .3      8,000.00      28

     4,000    rd      Royal Dutch Pete NLG 1 .25            0 .8       04-27-99     56 .82     227,280 .00    4490       179,600 00     -47,68000        -21 .0     8 .22394      46
     3,000    sib     Schlumberger                          0.6        04-27-99     53 .73     161,177 .00    46 .92     140,760.00     -20,417.00       -127       2,250 .00     16
                               .                            5 .1                               940,860 68              1,134,570.90     193,710 .22       20 .6    38,254 .08     34

Fmanaals

     7,400 axa        AXA-UAP ADR                            0.6 05-20-97            16.49     122,026.00     19.26      142,524 00      20,498 00        168       2,42572        1 7
     2,600 axa        AXA-UAP ADR                            0.2 06-13-97            15 .86     41,230 00     1926        50,076 00       8,846.00        215         85228        1 7
     4,000 axa        AXA-UAP ADR                            0 3 07-16-97            15.98      63,93000      1926        77,040 .00     13,11000         20 .5     1,31120        1 7
    14,000            AXA-UAP AOR                               1 .2                 16 .23    227,186 00                269,640 00      42,454 .00       18.7       4,58920       1 7
                                                                                                                                                                                      r




                         Portfolio Evaluation for


                         Gafffield Foundation/F
                         November 30, 2003             140688805

                                                              96   Purchase     Coed       Original   Market         Cnmnc           Gain/         Pa.           Annual YIM/
   Quanky      Symbol           $ecvruy Desaiption          Value    Date       Unit         Cost      Price          Value          (Loss)        G/L           Income YLD
       9,523 aig         American Int9 Group                   2.5 01-01.60      22 .75    216,694.40   57.95        551,857.85     335,163.45       154.7        2,475.98 0.4

          4,000 cnt      Centerpant Properties Corp           1 .3 05-20-97      29 .47    117,880.00     71 .65     286,600.00     168,720.00       143.1       12,480 .00   44
-- -    - 2-0Q0 cnt      Centerpoint PropeRies Core           0.6 07.06-98       33.35      66,700 .00    71 .65     143,300.00      76,600 . 00     114.8      _ 6,240.00    4.4
          6,000          Centerpoint Properties Core          1 .9               30.76     184,580.00                429,900.00     245,320.00       132.9       18,720.00     4.4

          5,000 eqr      Equity Residential                   0.7    08-10.01    28 .81    144,073.00     29.36      146,800.00       2,727.00          1 .9     17,300 .00   11 .8

          1,000    fnm   Fannie Mae                            0.3 03-31-97       37.98     37,975.00     70 .00       70,000 .00    32,025 .00       84.3        2,080.00  3.0
            300    fnm   FannieMae                             0.1 03,317         37.66     11,298 .00    70 .00       21,000.00      9,702.00        859           624.00  3.0
            700    (nm   Fannie Mae                            0.2 020-97         41 .73    29,208 .00    70 .00       49,000.00     19,792 .00       67.8        1,456.00  3.0
          1,300    fnm   Fannie Mae                            0.4 06-13-97       46.72     60,730 .00    70 .00       91,000.00     30,270 00        498         2,704.00  3.0
          2,000    fnm   Fannie Mae                          --0 .6 07-1fr97    _ 42 .84    85,680 .00    70 .00 -    140,000.00     54,320 00 _      63 4      , 4,160.00 ^3 .0
          5,300          FannieMae                             1.7               42 .43    224,891.00                 371,000.00    146,109.00        65 .0      11,024 .00 3.0


          2,100 jpm      J P Margan Chase & Company            0.3 03-31-97       31 .57    66,290 .00    35 .40       74,340 .00      8,050.00        121        2,856.00     3.8
            600 fpm      J P Margan Chase & Company            0.1 03,31-97       31 .18    18,707 .00    35 .40       21,240.00       2,533.00        13 .5        816.00     3.8
            600 jpm      J P Morgan Chase & Company            0.1 Or20-97        30.75     18,450 .00    35.40        21,240 .00      2,790.00        15_1       _ 816.00     3.8
          3,300          J P Morgan Chase & Company            0.5                31 .35    103,447.00                116,820.00      13,373 .00       12 .9      4,488.00     3 .8


          2,000    Iry    Liberty Ppty Tr                      0.3   03-31-97     2422       46,446 .00   37 .83       75,660 .00     27,214 00        562         4,840.00     64
            700    try    Liberty Ppty Tr                      01    03-31-97     24 .23     16,958.00    37 .83       26,481 .00      9,523.00        56 .2       1,694.00     64
          1,000    Iry    Liberty Ppty Tr                      0.2   05-30-97     23.60      23 .598 00   37 A3        37,830.00      14,232 .w        60 .3       2,420.00     6.4
            300    !;y    Libeity rpiy i r                     0.4   07-16-97     25 .21     57,989 .00   37 .83       87,009 .00     29,020 .00       50 .0       5,566.00     6.4
           1,500   Iry    Liberty Ppty Tr                      0.3   07-0Cr98     25 .66     38,490.00    37 .83       56,745 .00     18,255 .00       47 .4       3,630.00     6.4
          7,500           Liberty Ppty Tr                      1.3                24 .73    185,481.00                283,725.00      98,244 .00       53.0       18,150.00     6.4

                                                               9.7                         1,286,352.40              2,169,742.85    883,390 45        687        76,74718      35

       Health Care
            5,000 amgn    Amgen                                 1 .3 03-31-00     60 .61    303,069.00     57 .62     288,100.00     -14,96900         -4 .9           000       0.0
            4,275 cah     Cardinal Health Inc                   1.2 05-211-97     23 .42    100,12100      61 .14     261,373.50     161,252.50       161 1          513.00      02

           4,552 gsk      Glaxosmiihkline Adrs                  0.9 01-01-60      3953      179,930 00     45 .88     248,845.76      28,915 .76        16 11      6,33429       3.0
                       Portfolio Evaluation for


                       Garffield Foundation/F
                       November 30, 2003              140688805

                                                             96     Pace       Coed      Original       Market       Current         Grin/         Pcc         Annual 'IT/
QuanitY       Symbol           Security Description        Value     Date       Unu        Cost          Price        Value         (- LOSS)       G/L         Income YLD
    1,650 gsk          GtaxosmithklineAdrs                   0.3 02-04-00      49.44      81,576.00      45 .88       75,702 .00     x,874.00      -7-2         2,296.04 . 3 0
    6,202              Glaxosmithkline Adrs                  1.3                42.16    261,506.00                  284,547.76     23,041 .76         8.8     8,630.33     30


      300 jnj          Johnson & Johnson                     0.1 02-04-00       41 .36    12,408 .00     49 .30       14,790.00      2,382.00         19 .2      288.00     1 .9
    6,000 jnj          Johnson 8 Johnson                     1 .3 03-31-00      35.31    211,868 .00     49.30       295,800.00     83,932 .00        39 .6    5,760.00     1 .9
    6,300              Johnson 8 Johnson                     1 .4               35 .60   224,276.00                ^ 310,590.00     86,314 .00        38 .5    6,04800      1 .9


   2,000 Ily           Lilly Eli & Co                         0.6 08-11-00      76 .40    152,792.00     68 .80       137,600.00    -15,192.00        -9 .9     2,840.00    2.1
-- 1 .000 Ily          Lilly Eli & Co                         0.3 08-11-00      76.40      76,396 .00    68.80         68,800 .00    -7,596 .00       -9.9      1,420.00    21
     3,000             Lilly Eli & Co                         0.9               76.40     229,188.00                  206,400.00    -22,788 .00       -9.9      4,260 .40   2.1    -


       602 mhs         Medco Health Solutions                 0.1 01-01-60       0.00           0.00     36 .43        21,930.86     21,930 .86        0.0          000     0.0
       169 mhs         Medco Health Solutions                 0 0 03-31-97      19 .54      3,302.34     36 .43         6,156.67      2,854.33        86 .4         000     00
       771             Medco Health Solutions                 0.1                4.28       3,302.34                   28,087 .53    24,785.19     J 750.5 --_Y_ 0.00       00


     5,000 mrk         Merck & Co                             0.9 01-01-60       0.00           0.00     40.60        203,000.00    203,000 .00         0.0     7,400.00    3.6
     1,400 mrk         Merck & Co                             0.3 03-31-97      40.69      56,967.66     40.60         56,840 .00      -127.66         -0.2     2.07200     3.6
     6,400             Merck 8 Co                             1.2                8.90      56,967 .66                 259,840.00    202,812 .34      356.1      9,472.00    3.6


     2,000 wye         Wyeth                                  0.4 03-31-97      31 .11     62,225 .00     39 .40       78,8 .00      16~575.00        2S .S         0.00    uu
       600 wye         Wyeth                                  0.5 03-31-97      3114       18,686 .00     39 .40       23,640 .00     4,954.00        26 .5         0.00    00
       800 wye         Wyeth                                  0.1 05-20-97      36 .30     29,040 .00     3940         31,520 .00     2,480.00         8 .5         0.00    0.0
     3,400             Wyeth                                  0.6               32 .34    109,951.00                  133,960 00     24,009 00        218            0.00   00

                                                              7.9                        1,288,381.00                1,772,898.79   484,517.79         37 .6   28,923 33     16

Information tech

       381   a         Agdent Technologies                    00    031-97      3135       11,939 00      28 .28       10,769 .59     -1,16941         -98           000    0.0
       114   a         Agdent Technologies                    0.0   031-97      31 .60      3,608 00      28 .28        3.22844         -379.56       -105           000    00
       496   a         Agilent Technologies                   01    020-97      30 .13     14,937 00      28 .28       14,02 79         -915 .21       -6 .1         0.00   0.0
     1,144   a         Agilent Technologies                   01    06-13-97    34 .62     35,039 00      28 .28       32,357 98      -2,681 .02       -77           000    00
     4,865   a         Agilent Technologies                   06    05-22-01    38 .45    187,07141       28 .28      137,582 20     X9,489 .21       -265           000    00
                          Portfolio Evaluation for

                          Garfield Foundation/F
                          November 30, 2003             140688805

                                                               96      Purchase   Cost/     Original       Market     Curnent         Gain/          Pa.           Annual        YIM/
Quanity       _ Symbol            Seci,uicyDesaiption        Value       Dace      Unu        Cost          Price      Value         (LOSS)        _ G/L         - Income         YLD
       700 a              Agilent Technologies                  0.1 07-18-01       29.06     20,344 .33     28 .28     19,796 .00      X48.33          -2.7             0.00  0.0
    -4,865 a              Agilent Technologies                  0.6 11-05-03       25.50    124,037.07      2828      137,582.20     13,545 .13        109       -      0.00 -0 .0
    12,565                Agilent Technologies                  1 .6               31 .59   396,975.81                355,338.20     X1,637 .61       -10.5             0.00      0.0

     6,800 csco          . Cisco Systems Inc                    0.7    02-1403     13 .62    92,616.00      22 .70    154,360.00     61,744 .00        66 .7            0.00      0.0
     7,000 ca              Computer Associates lMllnc           0.7    08-20-02    10 .44    73,080.00      23 .30    163,100.00     90,020 .00       123.2           560.00      0.3

      2,000   hpq          Hewlett-Packard Co                   0.2    03-31-97    21 .20   42,393.00       21 .74      43,480 .00    1,087.00          2.6    640.00    1 .5
        600   hpq          Hewlett-Packard Co                   0.1    03,31-97    27 .33   16,398 .00      21 .74      13,044 .00    x,354.00        -20.5     192.00   1.5
      1,400   hpq          Hewlett-Packard Co                   0.1    05-20-97    20 .37   28,515 .00      21 .74      30,436 .00     1,921 .00        6.7    448.00    1 .5
      1,200   hpq          Hewlett-Packard Co                   0.1    05-20-97    26.11    31,335 .00      21 .74      26,088 .00    x,247.00        -167      384.00   15
  __ 6-000    hpq          Hewlett-Packard Co                 --06     06-13-97    20.71 - 124,231 .00      21 .74     130,440.00     6,209.00        _ 5.0 _ 1,920.00 _ 1 .5
     11,200                Hewlett-Packard Co                   1 .1               21 .69  242,872.00                  243,488.00        616.00         03    3,584.00   1 5


     2,000 ibm             Int'l Business Machines               0.8 03-31-97      33 .78     67,550.00      90.54     181,080 .00   113,530.00       1681           1,280.00      07
       800 ibm             Int'l Business Machines               0.3 03,31-97      34 .10     27,282 .00     90.54      72,432 .00    45,150 .00      165 .5          51200        07
     1,200 ibm             Int'l Business Machines               0.5 06-13-97      44 .23     53,079.00      90 .54    108,64 8.00    55,569 .00      104.7            768.00      0.7
     4,000                 Int'l Business Machines               1 .6              36.98     147,911 .00               362,160.00    214,249.00       1448           2,560 .00     07


      4,000   intc         Intel Corp                            0.6   031-97      17 .28     69,125 .00     33 .54    134,160.00     65,035 .00       941            640.00       0.5
      1,600   intc         Intel Corp                            0.2   03-31-97    17 .27     27,625.00      33 .54     53,664 .00    26,039 .00       94.3            256.00      0.5
      1,600   intc         Intel Corp                            0.2   05-20-97    20 .03     32,050 .00     33.54      53,664 .00    21,614 .00       674             256.00      0.5
      6,400   intc         Intel Corp                            10    06-13-97    17 .95    114,850.00      33 .54    214,656.00     99,806 .00       86 .9         1,024.00      0.5
        800   into         Intel Corp                            0.1   06-24-96    1905       15,238 .00     33 .54     26,832 .00    11,594 .00       76 .1           128.00      0.5
     14,400                Intel Corp                            2.2               17.98     258,888 00                482,976.00    224,088.00         866          2,304 .00     05


      9,800 ord            Oracle Sys Corp                       0.5 06-13-97        5.47     53,627 .78     12 .02    117,796.00     64,168 .22       1197              0.00      0.0
      4,200 ord            Oracle Sys Corp                       0.2 07-06-98        3.83     16,100 .00     12.02      50,484 .00    34,384 00        2136              0.00      00
     26,000 ord            Oracle Sys Cap                        14 05-21-99         6.44    167,375 00      12.02     312,520.00    145,145.00         867              0.00      00
     40,000                Oracle Sys Cory                       2.1                 5.93    237,102 78                480,800.00    243,697.22        1028              0.00      00

                                                                10.0                        1,449,445 59              2,242,222.20   792,776.61            547       9,008.00      04

Ubl,r,;es
                           Portfolio Evaluation for


                           Garffield Foundation/F
                           November 30, 2003              140688805

                                                                   96      Purchase   Card        Original        lvluloet        Gunenc         Gain/         Pcz           Annual       YIM/
  Quanicy _    _ Symbol-           Security Description          Value       Date      Um           Cost           Price           Value         (Loss)        G/L           Income        YLD
     10,000 aes            AES Carp                                 0.4 05-15-02        6.92        69,200 .00       8.87          88,700.00     1 9,500.00      28 .2      -    0.00      0.0
                                                                 -- 0.4                             69,200 .00                     88,700.00     19,500 .00      28 .2           0.00      0.0

Common Stock TOTAL                                                58.0                     01 9,030,342 .80                  GI2,967,533 .28 3,937,190 .48       43 .6      217,567.99     1 .7
                                                                                                                                                                                                  r~



Foreign Common Stock

  Consumer Staples
      2,400 crerf          Carrefour SA FRF Par Ordinary           0.6 021-97          54.80       131,525.00       53 .88         129,312.00     -2,213 .00     -1 .7          0.00       0.0
      6,600 kof            Coca-Cola Femsa ADR                     0.6 05-20-97        13 .24       87,395 .00      20 .45         134,970.00    47,575 .00      54.4           0.00       0.0
                                                                   1 .2                            218,920.00                      264,282.00    45,362 .00      20 .7      --- 0.00       0.0

Foreign Common Stock TOTAL                                          1 .2                 ~         218,920.00                  Q264,282 00       45,362.00       20.7       - ~ --0 .00    0.0



Mutual Funds                                                                             (D 1-244W2.20                          v ~32313~52ti~

 25,064 .1960 ftieqx       FTI Funds Small Cap Eq I'd               1 .9 07-18-97       13 .62     341,374.40        16 .58        415,564 37    74,189 .97      21 .7            0.00      00
 80,3516400 fbdax          Franklin Inv Sec Total Return FID        3.6 04-28-99         9.98      801,634.00        10 .09        810,748.05     9,114.05        1 .1       43,223 .64     53
                           ADV
Mutual Funds TOTAL                                                  5.5                          1,143,008.40                    1,226,312.42    83,304 .02          7.3     43,223.64      35



TOTAL                                                             100.0                          17,811,833 .25                 22,374,132.82 4,562,299.57        25 .6     622,442.59      2.3

SPECIAL HOLDINGS

Special Situations

  Not Classified
         277 capital         Capital Preservation Partners LLC             03-04-03   1,44540       400,000.00 1,559.57            431,59540     31,595 .40           7.9          000      00
     400,000 6rtree          Fir Tree Recovery Fund                        06-30-03      1 .00      400,000 00     104             416,320.00    16,320 00            41           000      00
       4,000 libra2          Libra Offshore Limited                        06-30-03    100.00       400,000.00 112.04              448,160.00    48,160 00           120           000      00
                           Portfolio Evaluation for

                           Garfield Foundation/F
                           November 30, 2003                140688805

                                                                  96   Pause   Cold       Original   Muiaec      Giu:enc         Gain/        Pcc        Annual YTM/
  Quanity _   Symbol_            SecurityDesaiption              Value  Date   Uau          Cost      Price       Value          (Loss)       G/ L     _ Income YLD
     400,000 longcap       Longaae Capital Partners L.P .              06,W3     1 .00 _ 400,000 .00    1 .07    428,480 .00     28,480 .00       7.1   _ _ 0 _00 _ 0.0
                                                                                        1,600,000.00            1,724,555.40    124,555.40        7 .8       0.00   0.0


Special Situations TOTAL                                                                1,600,000.00             1,724,555.40   124,555 .40       7.8         000     0.0




SPECIAL HOLDINGS TOTAL                                                                  1,600,000.00             1,724,555.40   124,555 .40        7.8         0.00   00

GRAND TOTAL                                                                            19.41 1=25               24,098,688.23 4,686,854 .97       24.1   622,442.59   21
                            Portfolio Evaluation for

                            The Garfield Private Family Foundation
                            November 30, 2003                 83474C80

                                                                     96         Purchase    Cold      Original       Market      GutenE          Gain/          Pcc.           Annual      Y'IMl
  Quaniry                                                                                               Cost -        Price       Value          (Loss)--      _G/L__          Income       YiD
               - - Symbol    _        Security D escription        Value        _ Date      Unu                                                                             --

Cash and Equivalents
               anammf      CMA Money Market Fund                     2.5                              209,620.95                 209,620.95                                   1,865.63       0.9
               anagi       Income Cash Balance                       0.5                               40,924 .06                 40,924 .06                                    364.22       0.9
Cash and Equivalents TOTAL                                           3.0                              250,545.01                 250,545.01                                   2,229.85       0.9


Government Obligations
      50,000   eco-logic   Eco-Logic Enterprise Ventures, Inc.        0.6       11-18-03    100 .00     50,000 .00   100.00        50,000 .00         0.00         0.0          500.00       1 .0
                           1 .000 96 Due 05-18-04
      50,000 rudolf        Ruddf Steiner Foundation                   0.6       11-24-03    100.00      50,000 .00   100.00        50.000 .00         0.00         0.0          400.00       0.8
                           0.800 96 Due 0630-04
    450,000 912827u83 U S Treasury Note                               5.7       06-12-97    100 .02    450,070.32     107.81      485,158.50     35,088.18          7.8      29,250 .00      18
                           6.500 96 Due 08-15-05
    700,000 912827262 U S Treasury Notes                              92 06-25-97           100.27     701,859.38     111 .06     777,441.00     75,58162         10 .8      45,500.00       25
                           6.500 96 Due 10-15-06
    500,000 31359mfl2      Federal NaU Mtge Assoc Global              6.7       06.01-00     98 .07    490,334.50     112.90      564,500,00     74,165 .50        15 .1     35,625 .00      30
                           Benchmark Note
                           7 .125 96 Due 03-15-07
    225,000 3133m5v3       Federal Home Loan Bank Senior              2.9       06 .25-99    94 .46    212,528.25     109.53      246,442.50     33,914 .25        16 .0      13,050.00      3.6
                           Notes
                           5.800 96 Due 09 .02-08
     500,000 31359mfg3      Federal Natl Mtg Assoc Note               6.9 06-01-00           98 .33    491,640.63     117.18      585,900.00     94,259 .37        19.2       36,250 .00     4.1    ,--,
                            7.250 96 Due 01-15-10
Government Obligations TOTAL                                         32 .6                            2,446,433.08               2,759,442.00    313,008.92        12.8      160,575.00       2.8


Corporate Bonds
     200,000 441812ge8           Household Fin Cap SR                 2 .5       10-20-03    108.02    216,046.00     107.65      215,292 00        -754 .00        -03       11,750 00       42
                                 5.875 % Due 02-01-09
      125,000 02635pr12          American Gen Fin Medtm Smt BE           1 .5    09-17-03    103.14     128,918.75    101 .14      126,430.00     -2,488 .75        -1 .9      6.71875        52
                                 5 375 96 Due 10-01-12
 Corporate Bonds TOTAL                                                   4.0                            344,964.75                341,722.00      -3,24275          -0 .9     18,468 75       46


 Common Stock

   Materials
        2,150 as                 Alcoalnc                                0.8 07-11-00         29.23      62,833.75      32 .81      70,541 .50     7,707.75         12 .3       1,29000        18
                      Portfolio Evaluation for

                      The Garffield Private Family Foundation
                      November 30, 2003            83474080

                                                         96     Purchase     Cold       Original    Market          Current        Gain/          Pcc.         Annual YIM/
Quaniry     Symbol            SecvriryDesaiption        Value     Dace        Uric        Cost       Price           Value         (Loss)         G/L          Income YLD
    2,300 ip          International Paper Co              1 .0 027-02          32.15     73,945 .00   37 .21         85,583.00     11,638 .00        15 .7      2,300.00  2.7
                                                           1 .8                         136,778.75                  156,124.50     19,345 .75         14 .1     3,590 .00 2.3

Industrials
      2,985 cd        Cendant Cap                         0.8 11-24-03        21 .35     63,715 .72     22 .16       66,147 .60     2,431.88           3.8       835.80     1.3
        750 dhr       Danaher Coop                        0.7 06-25.03        70 .15     52,612 .20     83.20        62,400 .00     9,787.80          18.6         0.00     00

    4,375 ge          General Electric Company            1.5 0804-97         22.61      98,939 .72     28.67        125,431.25    26,491 .53         26.8      3,500.00    28
    1,300 ge          General Electric Company            0.4 02-24-03        22.97      29,861 .00     28.67         37,271 .00    7,410.00          24 .8     1,04 0.00   28
    5,675             General Electric Company            1 .9                22.70     128,800.72                   162,702.25    33,901 .53         26 .3     4,540.00    28

     2,200 hon        Honeywell lnt'I                     0.8     09-17-03    28 .88     63,536.00      29 .69        65,318 .00    1,782.00           2.8      1,65000     25

      950 utx         United Technologies Corp            1.0     04-11-01    73 .48     69,806 .00     85 .70        81,415 .00   11,609.00          16.6      1,330.00    16
      700 ubc         United Technologies Corp            0.7     11-15-01    58 .30     40,810 .00     85 .70        59,990 .00   19,180.00          47.0        980.00    1.6
     1,650            United Technologies Corp            1.7                 67 .04    110,616 .00               ---141,405.00 --30,789.00           27 .8     2,31000     16

                                                           5.9                          419,280.64                   497,972.85    78,692 .21 - ' -_ -18 .8    ' 9,33580    1 .9

Telecommunication
     2,550 nxtl       Nextel Comet Inc CI A                0.8    11-26-03     23 .23     59,229 .11    25 .33        64,591 .50    5,362.39            9.1         0.00    00

     2,875 vod        Vodafone Group PLC New               0.8 02-2403         18 .17     52,226 .96    23 .35        67,131 .25   14,904.29          28.5       90390      13
     2,80 0 vod       Vodafone Group PLC New                                                                                                                                13
                                                        ---0-8 09-17-03        20.09      56,252 .00    23.35         65,380.00     9,128.00          16 .2      880.32
     5,675            Vodafene Group PLC n~                ;~                  i5. 12    ii8,478.96                  132,511.25    24,032.29      - - -22.2     1,784 22    1 .3

                                                           2.3                           167,708.07                  197,102 75    29,394 .68          17 .5    1,784.22    09

Consumer Discretion
     1,475 ga         Gannett Inc Del                      1 .5   12-18-02     7115      104,946 25     86 .60       127,735 .00   22,788 .75          21 .7     1,475.00   12
     1,750 low        Lowe's                               1 .2   04-01-02     44 .10     77,175 00     5830         102,025.00    24,850.00           32 .2      210.00    02
     3,300 mod        McDonald's Coop                      1 .0   09-17-03     23 .89     78,837 .00    25 .63        84,579 .00    5,742.00            73       1,32000    16
     2,200 s          Sears Roebuck 8 Co                   1.4    11-03-03     52 .10    114,617 .58    5516         121,352.00     6,734.42            5.9      2,02400    17
     4,000 spls       Staples                              1 .3   07-18-03     19 .69     78,752 00     27.11        108,440 00    29,688 .00          377           0.00   00

      1,475 viab       Viacom CI B                         0.7 11A 4-02        43.49      6-".,?47 75    39 .32       57,99700      -6 .150 .75        -9 .6      35400     0 .6
      1,300 viab       ViacomCIB                           0.6 41-27-03        39.54      51,40200       39 .32       51,11600        -286 .00         -0 .6      31200     06
                         Portfolio Evaluation for


                         The Garffield Private Family Foundation
                         November 30, 2003            83474080

                                                             96     Purchme     Cost/      Original       Market     Current         Gain/           Pct         Annual       YTM/
Quaniry       _ Symbol          SecurityDescription        Vahje      Date       Unit        Cast          Price      Value          (-Loss)       -G/L          Income        YLD
    1,300 viab           YaoomG B                          . 0.6 11-18-03        38 .31 - --
                                                                                           49 ,805-99      39 .32 -51 ,116.00         1,310.01          2.6       -312_00      0.6
    4,075                   m
                         via= C1 B                           1 .9                40 .58   165,355.74              160,229.00         x,126 .74         ~3.1        978 .00     0.6


                                                             8.3                           619,683.57                704,360.00      84,676 .43        13.7      6,007.00 ' 0.9

Consumer Staples

      900 d              Cdgate Palmolive CoO.                   6 12-18-01      5720       51,480 .00     52 .50     47,250 .00  4,230.00             -82          864 .00     1 .8
   _- 900 d              Colgate Palmolive CoO.                  6 02-24-03      50 .95     45,855.00      52.50      47,250.00 `1,395 .00 -- - -       3.0       _ 864.00      1 .8
    1,800                Cdgate Palmolive Col.                   1               54 .08     97,335.00                 94,500.00   -2,835 .00           -29        1,728.00      1 .8


     1,400 pep           Pepsicolnc                           0.8 07-27-01       45 .84     64,176 .00     48 .12      67,368 .00     3,192.00          5.0        896.00       1 .3
       975 pep           Pepsico Inc                          0.6 02-24-03       40 .28     39,273 .00     48 .12      46,917 .00     7,644.00         19 .5       624.00       1 .3
     2,375               Pepsico Inc                          1 .3               43 .56    103,449.00                 114,285.00     10,836.00         10.5       1,520.00      1 .3

     1 .900 syy          Sysco, Corp                          0.8 02-04-03       28 .72      54,558.88      36 .32     69,008.00     14,449 .12        26 .5       988.00       14

      600 wmt            Wal Mart Stores Inc                  0.4 09-27-02       51 .78      31,068 .00     55 .64     33,384 .00      2,316.00            7.5     216.00       0.6
      900 wmt            Wal Mart Stores Inc                  0.6 09-27-02       51 .75      46,575 .00     55 .64     50,076 .00      3,501.00            7.5     32400        0.6
     1,050 wmt           Wal Mart Stores Inc                  0.7 05-21-03       53 .34      56,001 .96     55 .64     58,422 .00      2,420.04            4.3     37800        0.6
     2,550               Wal Mart Stores Inc                  1 .7               52 .41    133,644.96                 141,882.00       8,237.04            62       91800       06

                                                              5.0                          388,987.84                 419,675.00      30,687 .16           79     5.15400        1 2

energy
     1,075 cvx            ChevronTexaco Corp                  1 .0 08-04-97       77.04      82,82135       75 .10     80,732 .50     -2,088.85            -25    3,139.00       39

        160   xom         Exxon Mobil Corp                    0.1 06r11-97        2644        4,230.30      36 .20       5,792.00      1,561 .70           369      160.00       28
       700    xom         Exxon Mobil Core                    0.3 12-26-02        35 .84     25,088.00      36.20       25,340.00        252.00             10      700.00       28
      1,500   xom         Exxon Mobil Core                    0.6 02-24-03        33 .88     50,820 00      36 .20      54,300.00      3,48000              68     1,50000       2.8
        500   xom         Exxon Mobil Corp                    0.2 02-24-03        33 .88     16,940.00      36 .20      18,100 .00     1,160.00             68      50000        28
      2,860               Exxon Mobil Cory                    1.2                 33.94      97,078 .30                103,532.00      6,453.70             66     2,86000       28

                                                              2.2                           179,899.66                 184,264.50    . 4,364.84            24      5,99900       33

 r'inanaais
       2,400 aig          American InYI Group                    1.6 12-18-01     8051      193,224 00      5795       139,080.00    -54,144 .00       -280         624.00       04
                       Portfolio Evaluation for

                       The Garffield Private Family Foundation
                       November 30, 2003         83474080

                                                        96     Purchase    Cold        Original   Iv1arlec        Current          Gain/       Pcc          Annual YIM/
- QuanitY    Symbol            Secu ruYDescriPcio° --- Value     Due        Unit         Cast      Price           Value         _ (-Loss) - --G/L        - Income YLD
      2,100 bac        Bank of America Corp               1 .9 OS-22-02      69 .50    145,950.00   75 .43         158,403.00      12,453 .00   ~8 .5        6,720.00 4.2

      1,450 c          Citigroup Inc                      0.8 02.05-01       52 .74     76,475 .58      47 .03     68,193.50    x,282.08      -10.8        2,320.00     3.4
        700 c          Citigroup Inc                      0.4 12-26-02       38 .02     26,614 .00      47 .03     32,921 .00    6,307.00      23 .7       1,120.00     3.4
      2,800 c          Citigroup Inc                      1.6 02-24-03     _ 33 .22     93,016 .00      47.03     131,684.00 _ -38,668 .00 _- 41 .6        4,480 .00    3.4
      4,950            Citigroup Inc                      2.7                39.62     196,105.58                 232,798.50    36,692 .92     18 .7        7,920.00    3.4


      1,550 fnm        Fannie Mae                         1 .3 06r28-00      56 .04     86,858 .13      70 .00    108,500.00     21,641 .88      24 .9      3,224.00  3.0
 _ ___ 300 fnm         Fannie Mae                         0.2 12-26-02       67 .44     20,232 .00      70 .00     21-000.00     - 768.00        _3 .8    _-_ 624.00 _3 .0
      1,850            Fannie Mae                         1 .5               57 .89    107,090.13                 129,500.00     22,409 .88       20.9      3,848.00  3.0

      3,975 jpm        J P Mcxgan Chase & Company          1 .7 10-U9-03     35 .56    141,369 .68      35 .40    140,715.00        X54.68        -0.5      5,406.00    3.8
      2,900 usb        U S Bancap New                      0.9 06-11-03      24 .71     71,652.62       27.71      80,359 .00      8,70638        12.2      2,784.00    3.5

        300 wfc        Wells   Fargo & Company             0.2 07-22-02      44.45      13,335 .00      57 .33   17,199 .00        3,864.00       29 .0       540.00   3.1
        600 wfc        Wells   Fargo & Company             0.4 12-26-02      47 .01     28,206 .00      57 .33   34,398.00         6,192.00       22 .0     1,080.00   3.1
        725 wfc        Wells   Fargo & Company             0.5 04-08-03    _ 47 .18     34,205 .50      57 .33 -_41,564 .25       _7,358 .75 -    215       1-305.00 _ 3.1
       1,625           Wells   Fargo & Company             1 .1              46 .61     75,746 .50               93,161 .25       17,414 .75      23 .0     2,925.00   31

                                                          11 .5                        931,138.51                  974,016.75     42,878 .24       4 .6    30,227 .00   3.1

  Health Care
       1,575    abt    Abbott Labs                         0.8 04-11-01      46 .73      73,599 .75     44 .20      69,615 00      -3,984.75      -5 .4     1,63800     2.4
       1,500    amgn   Amgen                               1 .0 01-23-03     51 .71      77.565 .00     57 .62      86,43000        8.86500       114           0.00    00
       1,400    dna    Genentech, Inc New                  1 .4 11-18-03     84 .90     118,860.00      84 .30     118,020.00        X40.00       -0 .7         0.00    0.0
       1,900    jnj    Johnson 8 Johnson                   1 .1 07-11-97     31 .01      58,926 .19     49 .30      93,670 .00    34,743 .81      59 .0     1,824.00    1 .9

       1,050 mdt        Medtronic                          0.6 10-10-02      43.29       45,452.19       45.20      47,460 .00      2.00781        4.4        30450      0.6
         875 mdt        Medtronic                          0.5 04-08-03      47 .28      41,370 .00      4520       39,550 .00     -1,820 .00      4.4        25375      06
       1,925            Medtronic                           1 .0              45.10      86,822 .19                 87,010.00         187.81       0.2        55825      0.6


       4,550 pie        Pfizer Inc                         1 .8 06r21-02      3470      157,885.00       3357      152,743 50      -5,141 .50      -33       3.09400     20
       1,650 pie        Pfizer Inc                         0.7 08-01-03       3286       54 .21 6 .03    33 .57     55,390 50       1,174.47       2.2       1,12200     20
       6,200            Pfizer Inc                         2.5                34 .21    212,101 .03                208,13400       -3 .96703       -19       4 .21600    2.0

                                                            7.8                         627,874.16                 662,879.00      35,004 84        56       8,23625     1 2
                           Portfolio Evaluation for

                           The Garffield Private Family Foundation
                           November 30, 2003           83474080

                                                             96   Pulse         Cold       Original       Muiaec     Gurenc            Gain/        Pcc.             Annual YIM/
 Quanity          Symbol          SecurnyDesaiprion         Value  Dace          Unu         Cost          Price      Value         _ (-Loss)       G/L            _ Income- YLD

 information tech
      2,140 bran           Broadcom Coop CI A                 0.9 OS-22-03       25.18      53,880.28      36.39      77,874 .60      23,994 .32      44 .5          8,560.00      11 .0

        6,300 csco         Cisco Systems Inc                  1 .7 01-14-02      20 .09  126,567.00        22 .70    143,010.00       16,443 .00       13 .0              0.00      0.0
-_      2,65 0 csao        Cisoo Systems Inc                - 0.7 03-26-03       14 .42 - 38,202 .67       22 .70     60,155 .00      21,952 .33       57 .5       -      0.00      0_0
        8,950              Cisco Systems Inc                  2.4                18 .41  164,769.67                  203,165.00       38,395 .33       23 .3              0.00      0.0


   1,125 dell              Dell Inc                           0.5 06-21-02       24 .41    27,46125        34 .57     38,891 .25 11,430 .00   41 .6                  0.00           0.0
_- 2,000 dell              Dell Inc                         _ 0.8 02-24-03       26 .38 -_52,760 .00       34 .57     69,140.00 -16,380 .00 - 31 .0                `000             00
   3,125                   Dell Inc                           1 .3               25 .67    80,221 .25                108,031 .25 27,810.00    34 .7                  0.00           0.0

         3,000   fdc       First Data Corporation              1 .3 04-01-02     42.80     128,385.00      37 .85    113,550.00       -14,835.00      -11.6            240.00       02
         2,625   hpq       Hewlett-Packard Co                  0.7 05-21-03      18.05      47,384 .14     21 .74     57,067 .50        9,683.36       20.4            840.00       1.5
           880   ibm       InYI Business Machines              0.9 07-11-97      48 .02     42,256 .50     90.54      79,675.20        37,418 .70      88 .6           563.20       07
         3,500   intc      Intel Cap                           1 .4 10-20-03     32 .64    114,242.45      33 .54    117,390.00         3,147.55        2.8            560.00       0.5

         1,175   msfl       Microsoft Corp Wash                0.4   05-22-01    34 .04      39,997.00      25 .71     30,209 .25      -9,787 .75      -24.5            188.00       06
           150   msft       Microsoft Corp Wash                0.0   11-15-02    27 .20       4,079.93      25 .71      3,856.50         -223 .43       5.5              24 .00      06
         4,000   msft       Microsoft Corp Wash                1.2   12-18.02    26.42      105,680.00      25 .71    102,840.00       -2,840 .00       -2 .7           640.00       0.6
           200   msft       Microsoft Cory Wash                0.1   12-18-02    26.42        5,284.00      25.71       5,142.00         -142 .00       -2 .7            32 .00      0.6
         1,000   msft       Microsoft Corp Wash                0.3   02-24-03    24 .72      24,720 .00     25 .71     25,710 .00         990.00         4 .0           160.00       0.6
           500   msft       Microsoft Corp Wash                0.2   02-24-03    24 .72      12,360 .00     25 .71     12,855 .00         495.00         4.0             80 .00      06     -
         1,000   msft       Microsoft Corp Wash                0.3   02-24-03     24 .72     24,720.00      25 .71     25,710 .00         990.00         -4 .n      _ _ ?r_,0 00     0
          ,025              Microsoft Corp Wash                2.4                27 .02    216,840.93                206,322.75      -10,518 .18          4.9         1,284.00      06

         3,975 nok          Nokia Corp Sponsored ADR           0.8 02-13-03       13.78      54,762 .78     17.98      71,470.50       16,707 .72          30 .5       1,28280       1 .8
         2,825 txn          Texas Instruments Inc              1 .0 03.06-03      16.76      47,354 .91     29 .76     84,072 .00      36,717 .09          77 .5    __ 24013         03
                                                              13 .2                         950,097.91               1,118,618.80     168,520.89           17 .7      13,57013       1 2

     Not Classified
           1,375 ath        Anthem Inc                         12    10-27-03     70.68      97,180 88      72 .12     99,165 .00        1,984.12           2.0            000        00

           900 eU           Entergy Corp New                   0.6   10-11-02     42 .97     38,674 .53     52 .86     47,574 .00        8,899.47          23 .0       1,620.00       34
                           Portfolio Evaluation for

                           The Garffield Private Family Foundation
                           November 30, 2003            83474080

                                                                96    Purchase      Cold       Original   Marloa       Guienc          Gain/       Pa .         Annual Y'IM/
 Quaniry- _ Symbol               _ SenuityDesaiption           Value    Dare         Unit        Cost      Price        Va}ue                      G/L          Income YLD
                                                                                                                                       (LOSS)
 -_ 1-100 etr              Entergy Cory New                      0.7 02-24-03        45 .30     49,830.00   52.86       58,146.00       8,316.00      16.7       1,980.00 3.4
     2,000                 Entergy Corp New                       1.2                44 .25     88,504.53              105,720.00      17,215 .47 '- _19.5      3,600.00     3.4

                                                                 2.4                           185,685.41              204,885,00      19,199 .59     10 .3      3,600.00    1.8

Common Stock TOTAL                                              60.4                          4,607,134.53            5,119,899.15    512,764.62      11 .1     87,503 .40   1 .7




TOTAL                                                          100 .0                         7,649,077.37            8,471,608.16    822,530.79      10 .8    268,777.00    2.2

SPECIAL HOLDINGS

Special Situations

  Not Classified
          138 capital      Capital Preservation Partners LLC            03 .04-03 1,445.50     200,000.00 1,559.57      215,782 .11    15,78211         7.9          000     0.0
     200,000 firtree       Fir Tree Recovery Fund                       06,30-03      1 .00    200,000.00     1 .04     208,160.00      8,160.00        4.1          0.00    0.0
        2,000 hbra2        Libra Offshore Limited                       06,30-03    100.00     200,000.00 112.04        224,080.00     24,080 .00      12.0          0.00    0.0
     200,000 longcap       Longaae Capital Partners L.P.                060-03        1 .00    200,000.00     1 .07     214,240.00     14,240.00        7.1          0.00    0.0
                                                                                               800,000.00               862,262.11     62,26211         7.8          0.00    00

Special Situations TOTAL                                                                       800,000.00               862,262.11     62,262 .11       78            0.00   0.0




SPECIAL HOLDINGS TOTAL                                                                          800,000.00              862,262.11     62,262 .11       7 .8          0.00   00

GRAND TOTAL                                                                                   8,449,077 .37           9,333,870.27    884,792.90       10 .5   268,777 .00   2.0
  THE GARFIELD FOUNDATION C/O BEHAN LI'NG &                                                  22-2285358


FORM 990-PF      OTHER INCREASES IN NET ASSETS OR FUND BALANCES                           STATEMENT     10


DESCRIPTION                                                                                 AMOUNT

PRIOR YEAR BOOK TAX ADJUSTMENT                                                                   12,754 .
PARTNERSHIP INCOME REPORTED ON FORM 990-T                                                         3,599 .

TOTAL TO FORM 990-PF,     PART III,        LINE 3                                                16,353 .




FORM 990-PF            U .S . AND STATE/CITY GOVERNMENT OBLIGATIONS                       STATEMENT     11


                                                  U .S .    OTHER                         FAIR MARKET
DESCRIPTION                                      GOVT       GOVT     BOOK VALUE              VALUE

GOVERMENT OBLIGATIONS     -   STMT   B              X                    810,195      .        854,850   .
GOVERMENT OBLIGATIONS     -   STMT   C              X                  2,446,433      .      2,759,442   .
GINNIE MAE SECURITIES     -   STMT   A              X                      5,737      .          6,455   .
GINNIE MAE SECURITIES     -   STMT   B              X                    143,442      .        155,690   .
GOVERMENT OBLIGATIONS     -   STMT   A              X                    200,000      .        200,000   .

TOTAL U .S .   GOVERNMENT OBLIGATIONS                                  3,605,807 .           3,976,437 .

TOTAL STATE AND MUNICIPAL GOVERNMENT OBLIGATIONS

TOTAL TO FORM 990-PF,     PART II,        LINE   10A                   3,605,807 .           3,976,437 .




FORM 990-PF                                CORPORATE STOCK                                STATEMENT     12


                                                                                          FAIR MARKET
DESCRIPTION                                                          BOOK VALUE              VALUE

PREFERRED STOCK - STMT A                                                 877,228 .             890,60 .
PREFERRED STOCK - STMT B                                                 625,,000 .            633,250 .
CORPORATE STOCKS - STMT A                                             10,215,124      .     11,373,313 .
CORPORATE STOCKS - STMT B                                              9,249,,263     .     13,231,815 .
CORPORATE STOCKS - STMT C                                              4,607135       .      5,119,899 .
MUTUAL FUNDS - STMT A                                                  2,394561       .      2,869,748 .
MUTUAL FUNDS - STMT B                                                  1, 143,. 008   .      1,226,31.2 .
EXCESS OF FMV OVER DONOR'S COST                                        5,882,651      .                 0.

TOTAL TO FORM 990-PF,     PART II,        LINE   lOB                  34,993,.970 .         35,344,997 .




                                                            23           STATEMENT(S) 10, 11,           12
18041012 756258 GFDN                     2002 .09000       THE GARFIELD FOUNDATION C/O GFDN             1
  THE GARFIELD FOUNDATION C/O BEHAN LING &                                                 22-2285358


FORM 990-PF                                CORPORATE BONDS                              STATEMENT     13
     F     i




                                                                                        FAIR MARKET
DESCRIPTION                                                           BOOK VALUE           VALUE

CORPORATE BONDS - STMT A                                                2,625,330 .        2,915,770 .
CORPORATE BONDS - STMT B                                                3,320,055 .        3,751,345 .
CORPORATE BONDS - STMT C                                                  344,965 .          341,722 .

TOTAL TO FORM 990-PF,          PART II,   LINE    lOC                   6,290,350 .        7,008,837 .



FORM 990-PF                               OTHER INVESTMENTS                             STATEMENT     14


                                                                                        FAIR MARKET
DESCRIPTION                                                           BOOK VALUE           VALUE

15,000 UNITS ALLIANCE CAP MGMT HOLDINGS LP                                470,487   .        483,000 .
CAPITAL PRESERVATION PARTNERSHIP                                        1,000,000   .      1,078,9'73 .
FIR TREE RECOVERY FUND                                                  1,000,000   .      1,040,800 .
LONGCARE CAPITAL PARTNERS                                               1,000,000   .      1,120,400 .
LIBRA OFFSHORE LIMITED                                                  1,000,000   .      1,071,200 .

TOTAL TO FORM 990-PF,          PART II,   LINE 13                       4,470,487 .        4,794,373 .




FORM 990-PF         DEPRECIATION OF ASSETS NOT HELD FOR INVESTMENT                      STATEMENT     15


                                                   COST OR           ACCUMULATED
DESCRIPTION                                      OTHER BASIS         DEPRECIATION        BOOK VALUE

LEASEHOLD IMPROVEMENTS                                   6,323 .              623 .            5,700 .
FURNITURE & FIXTURES                                     1,470 .              827 .              643 .
VIEWSONICI7" .26 SVGA COLOR
MONITOR                                                    394 .              281 .                 113 .
PENTIUM III 800MHZ COMPUTER                              2,185 .            1,556 .                 629 .
HP DESKJET 1250CSE COLOR
PRINTER                                                    675   .            481   .              194 .
PROGRAM EQUIPMENT                                        1,872   .            805   .           1,067 .
SOFTWARE                                                 6,280   .          4,710   .           1,570 .
SOFTWARE                                                 4,606   .          3,199   .           1,407 .
FURNITURE & FIXTURES                                     1,729   .            247   .           1,.482 .
FURNITURE & FIXTURES                                     1,446   .            207   .           1,239 .
PROGRAM EQUIPMENT                                          895   .            179   .              716 .

TOTAL TO FM 990-PF,          PART II,   LN 14           27,875 .           13,115 .           14,760 .




                                                       24           STATEMENT S) 13, 14,              15
18041012       756258 GFDN                2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                1
  THE GARFIELD FOUNDATION C/O BEHAN LING &                                            22-2285358


FORM 990-PF                                  OTHER ASSETS                          STATEMENT     16
   S       '


                                                                                   FAIR MARKET
DESCRIPTION                                                      BOOK VALUE           VALUE

BETHANY TOWERS ASSOCIATES LTD                                        62 :?,462 .        622,462 .
INTEREST & DIVIDENDS RECEIVABLES                                        4,072 .           4,072 .

TOTAL TO FORM       990-PF,   PART II,   LINE   15                   626,534 .          626,534 .




FORM 990-PF                       GRANTS AND CONTRIBUTIONS                         STATEMENT     17
                                    PAID DURING THE YEAR



                                     RECIPIENT                            RECIPIENT
RECIPIENT NAME AND ADDRESS            STATUS   PURPOSE OF GRANT          RELATIONSHP     AMOUNT

EARTHWORKS INSTITUTE, # 40          PUB .            GENERAL CHARITABLE PUB .
COUNTY ROAD 55-A,                   CHARITY                             CHARITY
CERRILLOS, NM 87010                                                                      25,000 .

INVESTOR'S CIRCLE, 320              PUB .            GENERAL CHARITABLE PUB .
WASHINGTON ST, BROOKLINE,           CHARITY                             CHARITY
MA 02445                                                                                 15,000 .

INTERNATIONAL HONORS                PUB .            GENERAL CHARITABLE PUB .
PROGRAM, BOSTON, MA                 CHARITY                             CHARITY         105,000 .

THE CENTER FOR                      PUB .            GENERAL CHARITABLE PUB .
INTERNATIONAL                       CHARITY                             CHARITY          10,000 .

THE CHILDREN'S VILLAGE,             PUB .            GENERAL CHARITABLE PUB .
DOBBS FERRY, NEW YORK               CHARITY                             CHARITY          89,500 .

FIGHT CRIME (INVEST IN              PUB .            GENERAL CHARITABLE PUB .
KIDS), WASHINGTON, D .C .           CHARITY                             CHARITY          62,500 .

CER-DET, CALLE SUIPACHA             PUB .            GENERAL CHARITABLE PUB .
290, CASILLA 83                     CHARITY                             CHARITY          51,000 .

CPI-CHACO, SANTA CRUZ DE LA PUB .                    GENERAL CHARITABLE PUB .
SIERRA, BOLIVIA             CHARITY                                     CHARITY         109,000 .

INCIATIVA AMOTOCODIE,               PUB .            GENERAL CHARITABLE PUB .
BARRIO TEXTIL CASA                  CHARITY                             CHARITY
14,CASILLA DE CORREO 96,                                                                 80,000 .

SOUTH COAST LEARNING                PUB .            GENERAL CHARITABLE PUB .
NETWORK, 5 DOVER STREET,            CHARITY                             CHARITY
NEW BEDFORD, MA 02740                                                                     5,000 .




                                                        25               STATEMENT S) 16,        17
18041012       756258 GFDN               2002 .09000   THE GARFIELD FOUNDATION C/O GFDN          1
  THE GARFIELD FOUNDATION C/O BEHAN LING &                                   22-2285358


LATIN AMERICAN ECONOMIC           PUB .      GENERAL CHARITABLE PUB .
DEVtLOrPMtNT                      CHARITY                       CHARITY         50,000 .

SANTA FE MOUNTAIN                 PUB .       GENERAL CHARITABLE PUB .
CENTER,TESUQUE, NEW MEXICO        CHARITY                        CHARITY        80,000 .

SUSTAINABLE COTTON PROJECT, PUB .             GENERAL CHARITABLE PUB .
OROVILLE CA                 CHARITY                              CHARITY        50,000 .

CENTER FOR NEW AMER DREAM,        PUB .       GENERAL CHARITABLE PUB .
6930 CARROLL AVE, SUI 900,        CHARITY                        CHARITY
TAKOMA PARK, MD 20912                                                           20,000 .

ANIMAL ALLIANCE, 7 PIONEER  PUB .             GENERAL CHARITABLE PUB .
LANE, WILLINGBORO, NJ 08046 CHARITY                              CHARITY       100,000 .

ENVIRONMENTAL GRANTMAKERS,        PUB .       GENERAL CHARITABLE PUB .
437 MADISON AVENUE, NEW           CHARITY                        CHARITY
YORK, NY 10022                                                                  20,000 .

THOMAS A . EDISON COLLEGE         PUB .       GENERAL CHARITABLE PUB .
FOUNDATION, 101 W . STATE         CHARITY                        CHARITY
ST . TRENTON, NJ 08608-1176                                                      2, .`i00 .

SHINAI SERJALI,    LIMA,   PERU   PUB .       GENERAL CHARITABLE PUB .
                                  CHARITY                        CHARITY        15,000 .

YALE UNIVERSITY,    NEW HAVEN,    PUB .       GENERAL CHARITABLE PUB .
CT                                CHARITY                        CHARITY        10,000 .

AMAZON ALLIANCE, 1367             PUB .       GENERAL CHARITABLE PUB .
CONNECTICUT AVE, NW SUITE         CHARITY                        CHARITY
400 WASHINGTON, D .C . 20036                                                    20,000 .

MERCURY POLICY PROJECT,           PUB .       GENERAL CHARITABLE PUB .
1420 MONTPELIER, VT 05602         CHARITY                        CHARITY        90,000 .

CONSUMERS FOR DENTAL          PUB .           GENERAL CHARITABLE PUB .
CHOICE, 1400 16TH ST NW SUI CHARITY                              CHARITY
330, WASHINGTON, D .C . 20036                                                   50,000 .

FUNDACION YANGARENKO,             PUB .       GENERAL CHARITABLE PUB .
CASILLA DE CORREOS, NO .          CHARITY                        CHARITY
3063, SANTA CRUZ, BOLIVIA                                                       74,000 .

THE MARION INSTITUTE, 3           PUB .       GENERAL CHARITABLE PUB .
BARNABAS ROAD, MARION, MA         CHARITY                        CHARITY
02738                                                                           20,000 .

SOUTH COAST HOSPITAL GROUP, PUB .             GENERAL CHARITABLE PUB .
43 HIGH STREET, WAREHAM, MA CHARITY                              CHARITY
02571                                                                           10,000 .




                                                   26                   STATEMENT S)    17
18041012   756258 GFDN              2002 .09000   THE GARFIELD FOUNDATION C/O GFDN      1
  THE GARFIELD FOUNDATION C/O BEHATJ LING &                                22-2285358


THE BUDDHAYANA FOUNDATION,      PUB .      GENERAL CHARITABLE PUB .
MARION, MA                      CHARITY                       CHARITY         10,000 .

FRIEND'S ACADEMY INC .,    N.   PUB .      GENERAL CHARITABLE PUB .
DARTMOUTH, MA                   CHARITY                       CHARITY         10,000 .

PROTECCION MEDIO AMBIENTE       PUB .      GENERAL CHARITABLE PUB .
TARI                            CHARITY                       CHARITY         21,000 .

SUSTAINABILITY INSTITUTE        PUB .      GENERAL CHARITABLE PUB .
INC ., NORTH CHARLESTON,        CHARITY                       CHARITY
S .C .                                                                       100,000 .

FIRST NATIONS DEV INST 2300 PUB .          GENERAL CHARITABLE PUB .
FALL HILL AVE SUI 412,      CHARITY                           CHARITY
FREDERICKSBURG,VA 22401                                                        1,000 .

GRANTMAKERS WITHOUT             PUB .      GENERAL CHARITABLE PUB .
BORDERS, PO BOX 181282,         CHARITY                       CHARITY
BOSTON, MA 02118                                                               2,500 .

ACLU FOUNDATION 125 BROAD       PUB .      GENERAL CHARITABLE PUB .
ST, NEW YORK, NY 10004          CHARITY                       CHARITY          5,000 .

AMNESTY INTERNATIONAL, 322      PUB .       GENERAL CHARITABLE PUB .
8TH AVENUE, NEW YORK, NY        CHARITY                        CHARITY
10001                                                                          5,000 .

ANTI-DEFAMATION LEAGUE       PUB .          GENERAL CHARITABLE PUB .
(ADL), 10495 SANTA MONICA    CHARITY                           CHARITY
BLVD . LOS ANGELES, CA 90025                                                   5,000 .

GOVERNMENT ACCOUNTABILITY       PUB .       GENERAL CHARITABLE PUB .
PROJECT, INC . WASHINGTON,      CHARITY                        CHARITY
D .C .                                                                        10,000 .

GIRAFFE PROJECT INC .,          PUB .       GENERAL CHARITABLE PUB .
LANGLEY, WA                     CHARITY                        CHARITY         5,000 .

GREENPEACE FUND, 702 H          PUB .       GENERAL CHARITABLE PUB .
STREET, NW SUITE 300,           CHARITY                        CHARITY
WASHINGTON, D .C . 20001                                                       1,000 .

PLANNED PARENTHOOD, 810         PUB .       GENERAL CHARITABLE PUB .
SEVENTH AVENUE, NEW YORK,       CHARITY                        CHARITY
NY 10019                                                                       7,000 .

POPULATION CONNECTION, 1400 PUB .           GENERAL CHARITABLE PUB .
16TH ST NW, SUITE 230,      CHARITY                            CHARITY
WASHINGTON, D .C . 20036                                                       7,000 .

STROKE ASSOCIATION OF           PUB .       GENERAL CHARITABLE PUB .
SOUTHERN CA                     CHARITY                        CHARITY        10,000 .




                                                 27                   STATEMENT S)   17
18041012 756258 GFDN              2002 .09000   THE GARFIELD FOUNDATION C/O GFDN     1
  THE GARFIELD FOUNDATION C/0 BEHPiN LING &                                        22-2285358


UNIVERSITY OF ARIZONA,                PUB .       GENERAL CHARITABLE PUB .
TUCSON, ~iZ                           CHARITY                        CHARITY          10,000 .

WILDLIFE WAYSTATION 14831   PUB .                 GENERAL CHARITABLE PUB .
LITTLE TUJUNGA CAN RD .     CHARITY                                  CHARITY
ANGELES NAT'L FOR, CA 91342                                                          100,000 .

THE DANCE RING INC/ NEW     PUB .                 GENERAL CHARITABLE PUB .
YORK THEATRE BALLET 30 EAST CHARITY                                  CHARITY
31ST ST, NEW YORK NY 10                                                                2,500 .

THE FOUNDATION OF MORRIS              PUB .       GENERAL CHARITABLE PUB .
HALL, 2381 LAWRENCEVILLE,             CHARITY                        CHARITY
NJ 08648                                                                               5,000 .

PRINCETON MEDICAL CENTER,             PUB .       GENERAL CHARITABLE PUB .
PRINCETON, N .J .                     CHARITY                        CHARITY          25,000 .

ROBERT WOOD JOHNSON                   PUB .       GENERAL CHARITABLE PUB .
MEMORIAL 675 HOES LANE,               CHARITY                        CHARITY
PISCATAWAY, NJ 08854                                                                  25,000 .

ISLES,   INC .,   TRENTON,   N .J .   PUB .       GENERAL CHARITABLE :PUB .
                                      CHARITY                        CHARITY           5,000 .

METROPOLITAN TRENTON         PUB .                GENERAL CHARITABLE PUB .
AFRICAN AMER C OF C 200E .   CHARITY                                 CHARITY
STATE ST . TRENTON, NJ 08608                                                           2,500 .

THE SUNSHINE FOUNDATION,              PUB .       GENERAL CHARITABLE PUB .
P .O . BOX 55130, TRENTON NJ          CHARITY                        CHARITY
08638                                                                                  5,000 .

TRENTON AREA SOUP KITCHEN,            PUB .       GENERAL CHARITABLE PUB .
TRENTON NJ                            CHARITY                        CHARITY           5,000 .

WILD FARM ALLIANCE,                   PUB .       GENERAL CHARITABLE PUB .
WATSONVILLE CA                        CHARITY                        CHARITY          25,000 .

THE NATURAL STEP,      SAN            PUB .       GENERAL CHARITABLE PUB .
FRANCISCO, CA                         CHARITY                        CHARITY         250,000 .

COALITION FOR                         PUB .       GENERAL CHARITABLE PUB .
ENVIRONMENTALLY                       CHARITY                        CHARITY          35,000 .

GREEN GUIDE INSTITUTE, P .O . PUB .               GENERAL CHARITABLE PUB .
BOX 129, SEA CLIFF, NY        CHARITY                                CHARITY
11579                                                                                 50,000 .

WATERSHED MEDIA,      451 HUDSON PUB .            GENERAL CHARITABLE PUB .
ST ., HEALDSBURG,     CA 95448   CHARITY                             CHARITY          50,000 .




                                                       28                     STATEMENT S)   17
18041012   756258 GFDN                  2002 .09000   THE GARFIELD   FOUNDATION C/O GFDN     1
  THE GARFIELD FOUNDATION C/O BEHAN LING &                                      22-2285358

NATIONAL WILDLIFE                PUB .           GENERAL CHARITABLE PUB .
FEDERltTI0N,1400 16TH ST NW      CHARITY                            CHARITY
SUIr5O1,'WASHINGTON, D .C .                                                        75,000 .

NATURAL RESOURCES DEFENSE        PUB .           GENERAL CHARITABLE PUB .
COUNCIL INC ., NEW YORK, NY      CHARITY                            CHARITY       125,000 .

ARTISTS FOR HUMANITY,            PUB .           GENERAL CHARITABLE PUB .
288-300 A ST . BOSTON,     MA    CHARITY                            CHARITY
02210                                                                             200,000 .

LOCAL INITIATIVES SUPPORT        PUB .           GENERAL CHARITABLE PUB .
CORP ., NEW YORK, NY             CHARITY                            CHARITY       150,000 .

TRENTON DOWNTOWN AREA            PUB .           GENERAL CHARITABLE PUB .
ASSOCIATION, TRENTON, NJ         CHARITY                            CHARITY        80,000 .

THE AFTER-SCHOOL                 PUB .           GENERAL CHARITABLE PUB .
CORPORATION, 925 9TH             CHARITY                            CHARITY
AVENUE, NEW YORK, NY 10019                                                         75,000 .

AMERICAN NATIONAL THEATER,       PUB .           GENERAL CHARITABLE   PUB .
NEW YORK, NY                     CHARITY                              CHARITY       5,00 .

CITYWORKS,   INC .,   TRENTON,   PUB .           GENERAL CHARITABLE PUB .
NJ                               CHARITY                            CHARITY       186,646 .

THE CENTER FOR INDIGENUOUS       PUB .           GENERAL CHARITABLE PUB .
AMAZONIA (CEDIA), PERU           CHARITY                            CHARITY        75,000 .

ALLIANCE CAPITAL MANAGEMENT
HOLDING THRU K-1                                                                        51 .


TOTAL TO FORM 990-PF,      PART XV,    LINE 3A                                  2,929,697 .




                                                   29                   STATEMENT S)     17
18041012   756258 GFDN                2002 .09000 THE GARFIELD FOUNDATION C/O GFDN       1
  Form     2220                      Underpayment of Estimated Tax by Corporations
                                                                                                                                                         OMB No 1545-0142


  Department of the Treasury                                                   " See separate instructions .
  Internal Revenue Service                                             " Attach to the corp oration's tax return .        FORM 9 9 0 -PF                    LOOL

            THE GARFIELD FOUNDATION                                                                                                 Employer identification number
            C/O BEHAN LING & RUTA CPA'S~                                            P .C .                                                  22-2285358
  Note : In most cases, the corporation does not need to file Form 2220 (See Part I below for exceptions ) The IRS will figure any penalty owed and bill the corporation If
         the corporation does not need to file Form 2220, it may still use it to figure the penalty Enter the amount from line 34 on the estimated tax penalty line of the
         cor p oration's income tax return, but do not attach Form 2220
    Part ] ' Reasons For Filing - Check the boxes below that apply to the corporation If any boxes are checked, the corporation must file Form 2220,
                  even if it does not owe the penalty If the box on line 1 or line M plies, the corporation may be able to lower car eliminate the penalty

    1 0 The corporation is using the annualized income installment method
    2 0 The corporation is using the adjusted seasonal installment method
    3 0 The corporation is a "large corporation" figuring its first required installment based on the prior year's tax


    Part 111 Figuring the U
    4 Total tax (see instructions)                                                                                                                             13 .568 .

    5a    Personal holding company tax (Schedule PH (Form 1120), line 26) included on line 4                         5a
     b    Look-back interest included on line 4 under section 460(b)(2) for completed long-term
          contracts or of section 167(g) for property depreciated under the income forecast method                   5b


      c Credit for Federal tax paid on fuels (see instructions)                                                 I 5c I
      d Total . Add lines 5a through 5c
    6   Subtract line 5d from line 4 If the result is less than $500, do not complete or file this form The corporation does
        not owe the penalty                                                                                                                                    13,568 .
    7   Enter the tax shown on the corporation's 2001 income tax return Caution : If zero or the tax
        year was for less than 12 months, skip this line and enter the amount from line 6 on line 8                                                  I         14,805 .

    8     Enter the smaller of line 6 or line 7 If the corporation is require d to skip line 7                                                                 13,568 .

    9     Installment due dates . Enter in columns (a) through (d)
          the 15th day of the 4th (Form 990-PF filers : Use 5th
          month), 6th, 9th, and 12th months of the corporation's
          tax year                                                        g          04/15/03                  05/15/03         ()8/15/03                  11/15/03
   10     Required installments . If the box on line 1 and/or line
          2 above is checked, enter the amounts from Schedule A,
          line 40 If the box on line 3 (but not 1 or 2) is checked,
          see instructions for the amounts to enter If none of
          these boxes are checked, enter 25% of line 8 above
          meach column                                                    10               3,392 .                   3,392 .           3,392 .                   3,392 .
   11     Estimated tax paid or credited for each period (see
          instructions) For column (a) only, enter the amount
          from pine 11 on line 15                                         71             18,195 .
          Complete lines 12 through 18 of one column before
          going to the next column .
   12     Enter amount, if any, from line 18 of the preceding
          column                                                         12                                      14,803 .            11,411 .                    8,019 .
   13     Addlines 11 and 12                                             13                                      14,803 .            11,411 .                    8,019 .
   14     Add amounts on lines 16 and 17 of the preceding
          column                                                         14
   15     Subtract line 14 from line 13 If zero or less, enter -0-       15              18,195 .                14,803 .            11,411 .                    8,019 .
   16     If the amount on line 15 is zero, subtract line 13 from
          line 14 Otherwise, enter-0-                                    16                                                0.                   0.
   17     Underpayment . If line 15 is less than or equal to line
         10, subtract line 15 from line 10 Then go to line 12 of
         the next column Otherwise, go to line 18                     17
   18 Overpayment . If line 10 is less than line 15, subtract line
         10 from line 15 Then o to line 12 of the next column         18            14 , 803 . 1             11 , 411 .                8   019 .
         Complete Part III on page 2 to figure the penalty . If there are no entries on line 17, no penalty is owed .
  JWA For Paperwork Reduction Act Notice, see separate instructions .                                                                                       Form 2220 (2002)
  212801
  of-o7-a3
                                                                                  30
18041012 756258 GFDN                                                 2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                                                           1
  FORM 990-PF                               THE GARFIELD FOUNDATION
  Form 2220(2002)                           C/O BEHAN LING & RUTA CPA'S,                                  P .C .                        22-2285358      page 2
       Pert 111      Figuring the Penalty


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


  21     Number of days online 20 after 4/15/2002 and before 1/12003



  22     Underpayment on line 17 x Number of days on line 21 x 6%
                                             365

  23     Number of days on line 20 after 12!31/2002 and before 4/12003



  24     Underpayment online 17 x Number of days on line 23 x 5%           I~-Z4
                                            365                             '

  25                                                              .3
         Number of days online 20 after 3!31!2003 and before 7/1200



  26     Underpayment on line 17 x Number of daVS online 25 x'%                26
                                             365

  27     Number of days online 20 after 6/30/2003 and before 10/12003          27



  28     Underpayment online 17 x Number of days online 27 x'%
                                            365

  29     Number of days online 20 after 9/30/2003 and before 1/1/2004      1   29



  30     Underpayment online 17 x Number of days online 29 x'%
                                            365                            I-A

  31     Number of days on line 20 after 12/312003 and before 2/16!2004



  32    Underpayment on line 17 x Number of days on line 31 z '%
                                             366


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


  34     Penalty . Add columns (a) through (d), of line 33 Enter the total here and on Form 1120, line 33, Form 1120-A, line
                                                                                                                                                           0.
  ' For underpayments paid after March 31, 2003 For lines 26, 28, 30 and 32, use the penalty interest rate for each calendar quarter,
  which the IRS will determine during the first month m the preceding quarter These rates are published quarterly in an IRS News
  Release and m a revenue ruling in the Internal Revenue Bulletin To obtain this information on the Internet, access the IRS Web
  Site at www .irs .gov . You can also call 1-800-829-1040 to get interest rate information
                                                                                                                                               Form 2220 (2002)
  JWA




  212802
  12-18-02
                                                                                       31
18041012 756258 GFDN                                                      2002 .09000 THE GARFIELD FOUNDATION C/O GFDN                                     1
 Form 8868 (12-2000)                               ~                                                            ~-                                                   Page 2
 0 If you are filing for an Additional (not automatic) 3-Month Extension, complete only Part II and check this box
 Note: Only complete Part II if you have already been granted an automatic 3-month extension on a previously filed Form 8888.
 0 If you are filing for an Automatic 3-Month Extension, complete only Part I (on page 1) .
                     Additional (not automatic) 3-Month Extension of Time - Must file Original and One Coay.
                 Name of Exempt Organization                                                                                      Employer identification number
 Type or
                 HE GARFIELD FOUNDATION
 print .
               C IO gEHAN LING & RUTA CPA'S                                 P .C .                                                    22-2285358
 File by the
 extended       Number, street, and room or suite no . If a P .O . box, see instructions .                                        For IRS use on
 dueaatero.358 FIFTH AVENUE                          9TH FLOOR
 thing the
 return see     City, town or post office, state, and 21P code . For a foreign address, see instructions.
 instructions
              N EW YORK            NY        10001
 Check type of return to be filed (File a separate application for each return):
  D Form 990           EJ Form 990-EZ          D Form 990~T (sec . 401(a) or 408(a) trust)             0 Form 1041 ~A           D Form 5227            0 Form 8870
  0 Form 990-BL        0 Form 990-PF           0 Form 990~T (trust other than above)                   [] Form 4720             0 Form 6069

 STOP: Do not complete Part II if you were not a lready granted a n auto m atic 3- m o nth exten sion on a previously filed Form 8888 .

 " If the organization does not have an office or place of business in the United States, check this box                               _ " 0
 " 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 " D . If it is for part of the group, check this box " = and attach a list with the names and EINs of all members the extension is for .


  4        I request an additional 3-month extension of time until        OCTOBER 15,                 2004 .
  5        For calendar year _ , or other tax year beginning             DEC 1, 2002                            and ending       NOV 30,           2003
  8        If this tax year is for less than 12 months, check reason :   D Initial return              ~ Final return             D Change in accounting period
  7        State in detail why you need the extension
           SEE STATEMENT ATTACHED

  8a       If this application is for Form 990-BL, 990-PF, 990~T, 4720, or 6069, enter the tentative tax, less any
           nonrefundable credits. See instructions                                                                                        $               14, 422 .

  b        If this application is for Form 990~PF, 990-7, 4720, or 6069, enter any refundable credits and estimated
           tax payments made . Include any prior year overpayment allowed as a credit and any amount paid
            previously with Form 8868                                                                        _                            $               18,195 .
  c        Balance Due. Subtract line 8b from line 8a . Include your payment with this form, or, H required, deposit with FTD
       coupon or, if required, by using EFTPS (Electronic Federal Tax Payment System). See instructions                                  $                             0

                                                                  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     late an that I am       orized to prepare this form .

Si nature "     ~                                      Tale " CPA                                                                  Date "     ?-/~ 2AI y
            ~~                           Notice to Applicant - To Be Completed by the IRS
       We haJ~approved this application. 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 request for an extension of time to
       file. We are not granting the 10-day grace period.
 0 We cannot consider this application because it was filed after the due date of the return for which an extension was requested .
                                                                                                                                     EXl'MOONAPPROM
   Other
                                                                                                                                             VG f 3 2004
                                                                    By
Director                                                                                                                  -_~  pitl A
                                                                                                                                    1
Alternate Mailing Address - Enter the address d you want the copy of this application for an additional 3-month extension returned IVOWM
                                                                                                                                       .
different than the one entered above.
                Name
                BEHAN          LING & RUTA CPA'S                      P .C .                                           r       RECEIVEL,~-
Type            Number and street (include suite, room, or apt. no .) Or a P.O. box number                                               U
or print        358 FIFTH AVENUE 9TH FLOOR                                                                              1`1              U)
                City or town, province or state, and country (including postal or ZIP code)
Bizof           NEW YORK, NY                 10001
                                                                                                                                                       e8681(12-2000)
 Form       8868                          Application for Extension of Time TL -ile an
 (December 2000                                   Exempt Organization Return                                                                       OMB No. 1545-1709
 Depo*,shf-W the Treasury
 Internal Revenue Service                                     110, File a                              for each return .

 " If you are filing for an Automatic 3-Month Extension, complete only Part I and check this box                            _  PO. DRD
 " If you are filing for an Additional (not automatic) 3-Month Extension, complete only Part II (on page 2 of this form) .
 Note: Do not complete Part II unless you have already been granted an automatic 3-month extension on a previously filed Form 8888 .

  -Past ~             Automatic 3-Month Extension of Time - Only submit original (no copies needed)
 Note: Form 990-T corporations requesting an automatic 6-month extension - check this box end complete Part I only                                          "    []
 All other corporations Including Form 990-C filers) must use Form 7004 to request en extension of time to file income fax
 returns. Partnerships, REMICs and busts must use Form 8736 to request en extension of time to file Form 1065, 1066, or 1041 .
 Type or           Name of Exempt Organization                                                                                           Employee identification number
 pint              THE GARFIELD FOUNDATION
                   C/O BEHAN LING & RUTA CPA'S,                                     P .C .                                                   22-2285358
 File by the
 due date for      Number, street, and room or suite no. If a P.O. box, see instructions .
 filing your       358 FIFTH AVENUE, 9TH FLOOR
 return See
 Instructions      City, town or post once, state, and ZIP code. For a foreign address, see instructions .
                   NEW YORK, NY                 10001

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

  D Form 990                                E::]   Form 990-T (corporation)                                                ~   Form   4720
    Form 990-BL                             D      Form 990-T (sec. 401(a) or 408(a) trust)                                0   Form   5227
  0 Form 990~EZ                             ~      Form 990~T (trust other than above)                                     0   Form   6069
    Form 990-PF                             D      Form 1041-A                                                             0   Form   8870

 " 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 " = . If it is for part of the group, check this box " = and attach a list with the names and EINs of all members the extension will cover.


  1        I request an automatic 3-month (6-month, for 990-T corporation ) extension of time until         JULY 151 200 4
           to file the exempt organization return for the organization named above . The extension is for the organization's return for:
           10, E:1 calendar year           or
           " M tax year beginning          DEC       1,    2002                         , and ending      NOV 30,          2003

  2        Ii this tax year is for less than 12 months, check reason :        El Initial return                0 Final return           0 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                                                                                           $            14,42 2 .


  b        Ii this application is for Form 990-PF or 990-T, enter any refundable credits and estimated
           tax payments made. Include any pnor year overpayment allowed as a credit                                                           $            18,195 .

  c        Balance Due. Subtract line 3b from line 3a. Include your payment with this form, or, if required, deposit with FTD
        coupon or, rf required, by using EFTPS (Electronic Federal Tax Payment System). See instructions                                      $                      0.

                                                                   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,
d is true, correct, and complete, and that I am authorized to prepare this form


Signature 11111.                                                            111,- CPA                                                         Y~~-?16 y
LHA      For                  Reduction Act Notice, see instruction                                                                                 Form 8888 (12-2000)




223831
os-oi-o2
                  STATEMENT ATTACHED TO
          APPLICATION FOR EXTENSION OF TIME TO FILE



Complete information relating to the taxpayer's income has not yet been provided to
taxpayer by a third party responsible for compiling the data .

It is expected that this information will be available so as to permit filing by the extended
due date.

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:103
posted:7/13/2011
language:English
pages:93