<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2022v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-03-05T08:39:09-06:00</ReturnTs>
    <TaxPeriodEndDt>2023-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>112479096</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>S ADELSBERG &amp; CO</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>280 NORTHERN BLVD</AddressLine1Txt>
        <CityNm>GREAT NECK</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>11021</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2022-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>133039604</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>GALLANT FAMILY FOUNDATION INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>GALL</BusinessNameControlTxt>
      <PhoneNum>8605468818</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 1574</AddressLine1Txt>
        <CityNm>CARY</CityNm>
        <StateAbbreviationCd>NC</StateAbbreviationCd>
        <ZIPCd>27518</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ROBIN GALLANT</PersonNm>
      <PersonTitleTxt>PRESIDENT &amp; EXECUTIVE DIRECTOR</PersonTitleTxt>
      <PhoneNum>8605468818</PhoneNum>
      <SignatureDt>2024-03-05</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>ROBIN</PersonFirstNm>
        <PersonLastNm>GALLANT</PersonLastNm>
      </PersonFullName>
      <SSN>999009999</SSN>
    </SigningOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>0</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>STEVE ADELSBERG</PreparerPersonNm>
      <PTIN>P00214432</PTIN>
      <PhoneNum>5165041313</PhoneNum>
    </PreparerPersonGrp>
    <AdditionalFilerInformation>
      <TrustedCustomerGrp>
        <TrustedCustomerCd>2</TrustedCustomerCd>
        <AuthenticationAssuranceLevelCd>AAL1</AuthenticationAssuranceLevelCd>
        <IdentityAssuranceLevelCd>IAL1</IdentityAssuranceLevelCd>
      </TrustedCustomerGrp>
    </AdditionalFilerInformation>
    <TaxYr>2022</TaxYr>
    <BuildTS>2023-04-26 12:10:37Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>7105181</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>203</InterestOnSavRevAndExpnssAmt>
        <DividendsRevAndExpnssAmt>129141</DividendsRevAndExpnssAmt>
        <GrossRentsRevAndExpnssAmt>149354</GrossRentsRevAndExpnssAmt>
        <NetRentalIncomeOrLossAmt>149354</NetRentalIncomeOrLossAmt>
        <NetGainSaleAstRevAndExpnssAmt>88033</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>190460</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>88033</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc2001500001">18256</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>0</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>384987</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>88033</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>48000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>4800</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>43200</CompOfcrDirTrstDsbrsChrtblAmt>
        <PensionEmplBnftRevAndExpnssAmt>3952</PensionEmplBnftRevAndExpnssAmt>
        <PensionEmplBnftNetInvstIncmAmt>0</PensionEmplBnftNetInvstIncmAmt>
        <PensionEmplBnftDsbrsChrtblAmt>3952</PensionEmplBnftDsbrsChrtblAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">4500</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>0</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>4500</OtherProfFeesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">4016</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>0</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>4016</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>60468</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>4800</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>55668</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>308450</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>308450</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>368918</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>4800</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>364118</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>16069</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>83233</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>803448</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>875761</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>875761</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>4844111</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">5641369</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>5641369</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>367621</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc2044400001">477639</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>477639</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>150303</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">110412</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>110412</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>6165483</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>7105181</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>7105181</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="RetDoc2065700001">2928633</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="RetDoc2065700001">3852262</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>2928633</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>3852262</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>3400345</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>3400345</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>-163495</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>-147426</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>3236850</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>3252919</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>6165483</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>7105181</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>3236850</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>16069</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>3252919</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>3252919</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MORGAN STANLEY - DETAIL AVAILABLE UPON REQUEST</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2021-11-12</AcquiredDt>
          <SoldDt>2022-08-17</SoldDt>
          <GrossSalesPriceAmt>100000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>100000</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MORGAN STANLEY - DETAIL AVAILABLE UPON REQUEST</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2009-06-15</AcquiredDt>
          <SoldDt>2023-06-09</SoldDt>
          <GrossSalesPriceAmt>90460</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2420</CostOrOtherBasisAmt>
          <GainOrLossAmt>88040</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>88040</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>K1 - SUBURBAN PROPANE LP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <CostOrOtherBasisAmt>7</CostOrOtherBasisAmt>
          <GainOrLossAmt>-7</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-7</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>88033</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>1157</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>1157</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>1157</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>15</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>15</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>60</EsPenaltyAmt>
        <TaxDueAmt>1202</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>DE</OrgReportOrRegisterStateCd>
        <OrgReportOrRegisterStateCd>NC</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>0</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>GALLANT FAMILY FOUNDATION</IndividualWithBooksNm>
        <PhoneNum>8605468818</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>PO BOX 1574</AddressLine1Txt>
          <CityNm>CARY</CityNm>
          <StateAbbreviationCd>NC</StateAbbreviationCd>
          <ZIPCd>27512</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>1</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>1</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>0</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SUSAN GALLANT</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O PO BOX 1574</AddressLine1Txt>
            <CityNm>CARY</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27512</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY &amp; TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ROBIN GALLANT</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O PO BOX 1574</AddressLine1Txt>
            <CityNm>CARY</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27512</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT &amp; EXECUTIVE DIRE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>20.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>48000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>6387052</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>84330</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>1801637</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>8273019</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>8273019</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>124095</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>8148924</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>407446</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>407446</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>1157</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>1157</TotalTaxAmt>
        <DistributableBeforeAdjAmt>406289</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>406289</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>406289</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>364118</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>364118</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>406289</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>349993</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>364118</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>349993</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt referenceDocumentId="RetDoc12000100081">0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>14125</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>392164</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMERICAN DANCE FESTIVAL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>715 BROAD STREET</AddressLine1Txt>
            <CityNm>DURHAM</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27705</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ASSOCIATION OF RELIGIOUS COMUNITIES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>24 DELAY STREET</AddressLine1Txt>
            <CityNm>DANBURY</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06810</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>13000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CAMELLAS CUPBARD</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 1771</AddressLine1Txt>
            <CityNm>NEW MILFORD</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06776</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ELIOT PRATT EDUCATION CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>163 PAPER MILL ROAD</AddressLine1Txt>
            <CityNm>NEW MILFORD</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06776</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>48696</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GASPARD &amp; DANCERS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>106 PATHWOOD LANE</AddressLine1Txt>
            <CityNm>DURHAM</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27705</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>35200</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LITERACY VOLUNTEERS ON THE GREEN</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>7 WHITTLESEY AVE</AddressLine1Txt>
            <CityNm>NEW MILFORD</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06776</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>10944</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NEW MILFORD COMMUNITY AMBULANCE CORPORATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>20 YOUNGS FIELD ROAD</AddressLine1Txt>
            <CityNm>NEW MILFORD</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06776</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TEMPLE SHOLOM</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>122 KENT ROAD</AddressLine1Txt>
            <CityNm>NEW MILFORD</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06776</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE CHILDRENS CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>11A ASPETUCK AVE</AddressLine1Txt>
            <CityNm>NEW MILFORD</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06776</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>33600</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TRIANGLE FAMILY SERVICES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3937 WESTERN BLVD</AddressLine1Txt>
            <CityNm>RALEIGH</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27606</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNITED WAY OF WESTERN CT</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>85 WEST STREET</AddressLine1Txt>
            <CityNm>DANBURY</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06810</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>VILLAGE CENTER FOR THE ARTS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>12 MAIN STREET</AddressLine1Txt>
            <CityNm>NEW MILFORD</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06776</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>45680</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NORTH CAROLINA COMMUNITY FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3737 GLENWOOD AVE SUITE 460</AddressLine1Txt>
            <CityNm>RALEIGH</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27612</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501C3 EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATIONS AND/OR CAPITAL IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>330</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>308450</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>203</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>129141</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReNotDebtFincdProp>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>149354</ExclusionAmt>
        </NetRntlIncmReNotDebtFincdProp>
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>18256</ExclusionAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>88033</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>296954</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>88033</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>384987</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>8</LineNumberTxt>
          <RelationshipStatementTxt>THE GAIN/LOSS IS FROM THE SALE OF SECURITIES IN THE BROKERAGE ACCOUNT.</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AppliedToPriorYearElection documentId="RetDoc12000100081">
      <ElectionDesc>THE GALLANT FOUNDATION, INC. ELECTS UNDER SUBPARAGRAPH 4946(B)(1), THAT THE DISTRIBUTION IS MADE OUT OF THE UNDISTRIBUTED INCOME OF A PRIOR TAXABLE YEAR.</ElectionDesc>
    </AppliedToPriorYearElection>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorporateBondsGrp>
        <BondNm>MORGAN STANLEY BROKERAGE</BondNm>
        <EOYBookValueAmt>477639</EOYBookValueAmt>
        <EOYFMVAmt>477639</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>MORGAN STANLEY BROKERAGE</StockNm>
        <EOYBookValueAmt>5641369</EOYBookValueAmt>
        <EOYFMVAmt>5641369</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>K-1 356-356 SJP LLC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>107775</BookValueAmt>
        <EOYFMVAmt>107775</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>K-1 SUBURBAN PROPANE PARTNERS LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>2637</BookValueAmt>
        <EOYFMVAmt>2637</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>2951</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2951</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>1065</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1065</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>K-1 SUBURBAN PROPANE PARTNERS LP</Desc>
        <RevenueAndExpensesPerBooksAmt>1331</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1331</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>MORGAN STANLEY - BROKERAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>16925</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>16925</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="RetDoc2065700001">
      <OtherLiabilitiesDetail>
        <Desc>UNREALIZED GAIN FROM BROKERAGE SECURITIES</Desc>
        <BOYBookValueAmt>2928633</BOYBookValueAmt>
        <EOYBookValueAmt>3852262</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>PROFESSIONAL FEES</CategoryTxt>
        <Amt>4500</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4500</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
  </ReturnData>
</Return>
