<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2021v4.1" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2022-09-15T07:23:02-07:00</ReturnTs>
    <TaxPeriodEndDt>2021-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>263965578</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>GRIFFITH &amp; COMPANY CPA PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>2990 LONG PRAIRIE RD SUITE A</AddressLine1Txt>
        <CityNm>FLOWER MOUND</CityNm>
        <StateAbbreviationCd>TX</StateAbbreviationCd>
        <ZIPCd>75022</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2021-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>201807893</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>MICHAUX FAMILY FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>MICH</BusinessNameControlTxt>
      <PhoneNum>9723558222</PhoneNum>
      <USAddress>
        <AddressLine1Txt>C/O 2990 LONG PRAIRIE ROAD SUITE A</AddressLine1Txt>
        <CityNm>FLOWER MOUND</CityNm>
        <StateAbbreviationCd>TX</StateAbbreviationCd>
        <ZIPCd>75022</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>RICHARD L MICHAUX</PersonNm>
      <PersonTitleTxt>DIRECTOR/PRESIDENT</PersonTitleTxt>
      <PhoneNum>9723558222</PhoneNum>
      <SignatureDt>2022-05-01</SignatureDt>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>RICHARD</PersonFirstNm>
        <PersonLastNm>MICHAUX</PersonLastNm>
      </PersonFullName>
      <SSN>XXX-XX-XXXX</SSN>
    </SigningOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>TODD M GRIFFITH CPA</PreparerPersonNm>
      <PTIN>P01244185</PTIN>
      <PhoneNum>9723558222</PhoneNum>
      <PreparationDt>2022-09-15</PreparationDt>
    </PreparerPersonGrp>
    <AdditionalFilerInformation>
      <TrustedCustomerGrp>
        <TrustedCustomerCd>3</TrustedCustomerCd>
        <AuthenticationAssuranceLevelCd>AAL1</AuthenticationAssuranceLevelCd>
        <IdentityAssuranceLevelCd>IAL1</IdentityAssuranceLevelCd>
        <FederatedAssuranceLevelCd>FAL1</FederatedAssuranceLevelCd>
      </TrustedCustomerGrp>
    </AdditionalFilerInformation>
    <TaxYr>2021</TaxYr>
    <BuildTS>2023-04-26 12:10:37Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990PF documentId="IRS990PF-01">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>1113191</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>38200</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>38200</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>38200</DividendsAdjNetIncmAmt>
        <CapGainNetIncmNetInvstIncmAmt>120864</CapGainNetIncmNetInvstIncmAmt>
        <NetSTCapitalGainAdjNetIncmAmt>0</NetSTCapitalGainAdjNetIncmAmt>
        <GrossProfitRevAndExpnssAmt>0</GrossProfitRevAndExpnssAmt>
        <OtherIncomeRevAndExpnssAmt>0</OtherIncomeRevAndExpnssAmt>
        <TotalRevAndExpnssAmt>38200</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>159064</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>38200</TotalAdjNetIncmAmt>
        <LegalFeesRevAndExpnssAmt>0</LegalFeesRevAndExpnssAmt>
        <AccountingFeesRevAndExpnssAmt>5500</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesAdjNetIncmAmt>5500</AccountingFeesAdjNetIncmAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OtherProfessionalFeesSchedu-01" referenceDocumentName="OtherProfessionalFeesSchedule">11293</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>11293</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule-01" referenceDocumentName="TaxesSchedule">1102</TaxesRevAndExpnssAmt>
        <DeprecAndDpltnRevAndExpnssAmt>0</DeprecAndDpltnRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule-01" referenceDocumentName="AmortizationSchedule OtherExpensesSchedule">316</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesAdjNetIncmAmt>316</OtherExpensesAdjNetIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>18211</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>11293</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>5816</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>32500</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>32500</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>50711</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>11293</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>5816</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>32500</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-12511</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>147771</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>32384</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>4995</CashBOYAmt>
        <CashEOYAmt>55919</CashEOYAmt>
        <CashEOYFMVAmt>55919</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>0</SavAndTempCashInvstBOYAmt>
        <RcvblFromOfficersEOYAmt>0</RcvblFromOfficersEOYAmt>
        <OtherNtsAndLoansRcvblEOYAmt>0</OtherNtsAndLoansRcvblEOYAmt>
        <CorporateStockBOYAmt>599886</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestmentsCorpStockSchedul-01" referenceDocumentName="InvestmentsCorpStockSchedule">604177</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>1028612</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>73423</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="InvestmentsCorpBondsSchedul-01" referenceDocumentName="InvestmentsCorpBondsSchedule">25414</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>28660</CorporateBondsEOYFMVAmt>
        <LandBldgInvestmentsEOYAmt>0</LandBldgInvestmentsEOYAmt>
        <OtherInvestmentsBOYAmt>-5891</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvestmentsOtherSchedule2-01" referenceDocumentName="InvestmentsOtherSchedule2">94686</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>0</OtherInvestmentsEOYFMVAmt>
        <LandEOYAmt>0</LandEOYAmt>
        <OtherAssetsBOYAmt>0</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt>0</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt>0</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>672413</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>780196</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>1113191</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>13400</AccountsPayableBOYAmt>
        <AccountsPayableEOYAmt>13400</AccountsPayableEOYAmt>
        <LoansFromOfficersEOYAmt>0</LoansFromOfficersEOYAmt>
        <MortgagesAndNotesPayableEOYAmt>0</MortgagesAndNotesPayableEOYAmt>
        <OtherLiabilitiesBOYAmt>0</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt>0</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>13400</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>13400</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>659013</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>766796</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>659013</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>766796</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>672413</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>780196</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>659013</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-12511</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="OtherIncreasesSchedule-01" referenceDocumentName="OtherIncreasesSchedule">120864</OtherIncreasesAmt>
        <SubtotalAmt>767366</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="OtherDecreasesSchedule-01" referenceDocumentName="OtherDecreasesSchedule">570</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>766796</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>SEE ATTACHED SCHEDULE - BAIRD STCL 4671</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2021-01-01</AcquiredDt>
          <SoldDt>2021-12-31</SoldDt>
          <GrossSalesPriceAmt>32951</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>33988</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1037</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>-1037</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>SEE ATTACHED SCHEDULE - BAIRD LTCG 4671</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-01-01</AcquiredDt>
          <SoldDt>2021-12-31</SoldDt>
          <GrossSalesPriceAmt>253380</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>131479</CostOrOtherBasisAmt>
          <GainOrLossAmt>121901</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>121901</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>120864</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>-1037</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>2054</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>2054</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>2054</TaxBasedOnInvestmentIncomeAmt>
        <OriginalReturnTaxPaidAmt>0</OriginalReturnTaxPaidAmt>
        <Form2220AttachedInd referenceDocumentId="IRS2220-01" referenceDocumentName="IRS2220">X</Form2220AttachedInd>
        <EsPenaltyAmt>23</EsPenaltyAmt>
        <TaxDueAmt>2077</TaxDueAmt>
        <AppliedToESTaxAmt>0</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>false</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>CO</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>GRIFFITH &amp; COMPANY CPA PC</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>9723558222</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>C/O 2400 BAYSHORE DRIVE SUITE 100</AddressLine1Txt>
          <CityNm>FLOWER MOUND</CityNm>
          <StateAbbreviationCd>TX</StateAbbreviationCd>
          <ZIPCd>75022</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <UndistrIncmSect4942a2NotAppInd>false</UndistrIncmSect4942a2NotAppInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <ExcessBusinessHoldingsInd>false</ExcessBusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd>false</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <ProceedsOrNetIncomeInd>false</ProceedsOrNetIncomeInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>RICHARD L MICHAUX</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O 2400 BAYSHORE DR 100 FLOWER</AddressLine1Txt>
            <CityNm>MOUND</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75022</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>VIRGINIA J MICHAUX</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O 2400 BAYSHORE DR 100 FLOWER</AddressLine1Txt>
            <CityNm>MOUND</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75022</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>RICHARD L MICHAUX JR</PersonNm>
          <USAddress>
            <AddressLine1Txt>5321 WOODSCAPE DR SE</AddressLine1Txt>
            <CityNm>SALEM</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97306</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ALISON M REYNOLDS</PersonNm>
          <USAddress>
            <AddressLine1Txt>4722 Rodman Street NW</AddressLine1Txt>
            <CityNm>WASHINGTON</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20016</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>NONE</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>NONE</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>1057272</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>55919</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>1113191</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>1113191</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>16698</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>1096493</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>54825</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>54825</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>2054</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>2054</TotalTaxAmt>
        <DistributableBeforeAdjAmt>52771</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>52771</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>52771</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>32500</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>32500</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>52771</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>59639</UndistributedIncomePYAmt>
        <ExcessDistributionCyovYr5Amt>58000</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>63500</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>43750</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>57539</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>90911</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>313700</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>32500</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <RemainingDistriFromCorpusAmt>32500</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>346200</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>59639</Taxable2Amt>
        <UndistributedIncomeCYAmt>52771</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>58000</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>288200</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>63500</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>43750</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>57539</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>90911</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>32500</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>NONE</ContributingManagerNm>
        <ShareholderManagerNm>NA</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>MICHAUX FAMILY FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2990 LONG PRAIRIE ROAD SUITE A</AddressLine1Txt>
            <CityNm>FLOWER MOUND</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75022</ZIPCd>
          </RecipientUSAddress>
          <FormAndInfoAndMaterialsTxt>N/A</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>N/A</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>N/A</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NATIONAL PKU ALLIANCE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2809 E HAMILTON AVE 311</AddressLine1Txt>
            <CityNm>EAU CLAIRE</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54701</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>FUND RAISING EVENTS &amp; PKU NEWSPKU OPERATIONSPKU RESEARCH</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>HABITAT FOR HUMANITY VAIL VALLEY INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 4149</AddressLine1Txt>
            <CityNm>AVON</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>81620</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>BUILD HOMES FORLOWER INCOME FAMILIES</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NICKLAUS CHILDREN'S HEALTHCARE FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>11780 US HIGHWAY 1 N 105</AddressLine1Txt>
            <CityNm>NORTH PALM BEACH</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33408</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>HEALTHCARE FOR LOW INCOME FAMILIES</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FIRST DESCENTS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3858 WALNUT STREET STE 161</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80216</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUNDDONATION</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NOCC CENTRAL MARYLAND</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>945 COACHWAY</AddressLine1Txt>
            <CityNm>ANNAPOLIS</CityNm>
            <StateAbbreviationCd>MS</StateAbbreviationCd>
            <ZIPCd>21401</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUND DONATION</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>32500</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <BusinessCd>900001</BusinessCd>
          <UnrelatedBusinessTaxblIncmAmt>38200</UnrelatedBusinessTaxblIncmAmt>
        </DividendsAndInterestFromSecDtl>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>38200</UnrelatedBusinessTaxblIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>38200</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>N/A</LineNumberTxt>
          <RelationshipStatementTxt>N/A</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <InvestmentsCorpBondsSchedule documentId="InvestmentsCorpBondsSchedul-01">
      <InvestmentsCorporateBondsGrp>
        <BondNm>TAX EXEMPT BONDS - SEE ATTACHED SCHEDULE</BondNm>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>CORPORATE BOND FUNDS - SEE ATTACHED SCHEDULE</BondNm>
        <EOYBookValueAmt>25414</EOYBookValueAmt>
        <EOYFMVAmt>28660</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedul-01">
      <InvestmentsCorporateStockGrp>
        <StockNm>COMMON STOCK - SEE ATTACHED SCHEDULE</StockNm>
        <EOYBookValueAmt>383909</EOYBookValueAmt>
        <EOYFMVAmt>803335</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PREFERRED STOCK - SEE ATTACHED SCHEDULE</StockNm>
        <EOYBookValueAmt>220268</EOYBookValueAmt>
        <EOYFMVAmt>225277</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2-01">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>OTHER INVESTMENTS - COST BASIS ADJUSTMENTS</CategoryOrItemTxt>
        <BookValueAmt>94686</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherDecreasesSchedule documentId="OtherDecreasesSchedule-01">
      <OtherDecreasesDetail>
        <Desc>MISCELLANEOUS ADJUSTMENT - FOREIGN TAXES PD</Desc>
        <Amt>570</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule-01">
      <OtherExpensesScheduleGrp>
        <Desc>WIRE FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>90</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>90</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>195</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>195</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>STATE FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>31</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>31</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="OtherIncreasesSchedule-01">
      <OtherIncreasesDetail>
        <Desc>NET LTCG FROM STOCK SALES</Desc>
        <Amt>120864</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedu-01">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>BAIRD INVESTMENT MANAGEMENT FEES</CategoryTxt>
        <Amt>11293</Amt>
        <NetInvestmentIncomeAmt>11293</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule-01">
      <TaxesDetail>
        <CategoryTxt>US TREASURY</CategoryTxt>
        <Amt>1102</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
