﻿<?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="2023v5.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-10-14T09:36:28-05:00</ReturnTs>
    <TaxPeriodEndDt>2023-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>873231666</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>PKF O'CONNOR DAVIES ADVISORY LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>500 MAMARONECK AVENUE SUITE 301</AddressLine1Txt>
        <CityNm>HARRISON</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>105281633</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>456614724</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>GRASSY CREEK FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>GRAS</BusinessNameControlTxt>
      <PhoneNum>9174773882</PhoneNum>
      <USAddress>
        <AddressLine1Txt>221 NORTH HOGAN STREET 403</AddressLine1Txt>
        <CityNm>JACKSONVILLE</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>32202</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>IAN HUSCHLE</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>9178369838</PhoneNum>
      <SignatureDt>2024-10-12</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>1</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>MICHAEL R KOENECKE CPA</PreparerPersonNm>
      <PTIN>P02100881</PTIN>
      <PhoneNum>9143818900</PhoneNum>
      <PreparationDt>2024-10-01</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2024-10-15 13:58:12Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="11">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>19469766</FMVAssetsEOYAmt>
      <MethodOfAccountingOtherInd methodOfAccountingOtherDesc="Modified Cash">X</MethodOfAccountingOtherInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>291784</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>291784</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>563543</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>563543</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>-2350215</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>4988907</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>0</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>-1494888</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>855327</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>425431</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>5000</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>421144</CompOfcrDirTrstDsbrsChrtblAmt>
        <PensionEmplBnftRevAndExpnssAmt>28281</PensionEmplBnftRevAndExpnssAmt>
        <PensionEmplBnftNetInvstIncmAmt>0</PensionEmplBnftNetInvstIncmAmt>
        <PensionEmplBnftDsbrsChrtblAmt>29165</PensionEmplBnftDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">9538</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>9538</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">6888</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>0</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>6888</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">2900</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>0</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>2900</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">12300</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>0</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <TravConfMeetingRevAndExpnssAmt>40542</TravConfMeetingRevAndExpnssAmt>
        <TravConfMeetingNetInvstIncmAmt>0</TravConfMeetingNetInvstIncmAmt>
        <TravConfMeetingDsbrsChrtblAmt>40542</TravConfMeetingDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">27948</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>0</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>27948</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>553828</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>5000</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>538125</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>1187904</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>1187904</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>1741732</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>5000</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>1726029</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-3236620</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>850327</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>13715881</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>6130757</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>6130757</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>0</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc2210400001">4969930</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>4969930</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>3736357</CorporateStockBOYAmt>
        <CorporateStockEOYAmt>0</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>0</CorporateStockEOYFMVAmt>
        <OtherInvestmentsBOYAmt>2141000</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">8369079</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>8369079</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>19593238</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>19469766</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>19469766</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="RetDoc2065700001">1734</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="RetDoc2065700001">137</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>1734</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>137</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>19591504</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>19469629</NoDonorRstrNetAssestsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>19591504</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>19469629</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>19593238</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>19469766</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>19591504</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-3236620</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc2049700001">3114745</OtherIncreasesAmt>
        <SubtotalAmt>19469629</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>19469629</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>SALE OF PUBLICLY TRADED SECURITIES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>4988907</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>7339122</CostOrOtherBasisAmt>
          <GainOrLossAmt>-2350215</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-2350215</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>-2350215</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>11820</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>11820</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>11820</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>12734</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>12734</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1192000001">X</Form2220AttachedInd>
        <EsPenaltyAmt>53</EsPenaltyAmt>
        <OverpaymentAmt>861</OverpaymentAmt>
        <AppliedToESTaxAmt>861</AppliedToESTaxAmt>
        <RefundAmt>0</RefundAmt>
      </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>FL</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd referenceDocumentId="RetDoc2330900001">1</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>HTTP://WWW.GRASSYCREEKFOUNDATION.ORG/</WebsiteAddressTxt>
        <IndividualWithBooksNm>IAN HUSCHLE</IndividualWithBooksNm>
        <PhoneNum>9174773882</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>221 NORTH HOGAN STREET NO 403</AddressLine1Txt>
          <CityNm>JACKSONVILLE</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>32202</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>1</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>0</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd referenceDocumentId="RetDoc2118100001">1</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>IAN HUSCHLE</PersonNm>
          <USAddress>
            <AddressLine1Txt>221 NORTH HOGAN STREET 403</AddressLine1Txt>
            <CityNm>JACKSONVILLE</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32202</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>20.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>50000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CHAD R PIKE</PersonNm>
          <USAddress>
            <AddressLine1Txt>221 NORTH HOGAN STREET 403</AddressLine1Txt>
            <CityNm>JACKSONVILLE</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32202</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ALAN PIKE</PersonNm>
          <USAddress>
            <AddressLine1Txt>221 NORTH HOGAN STREET 403</AddressLine1Txt>
            <CityNm>JACKSONVILLE</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32202</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KATERYNA RAKOWSKY</PersonNm>
          <USAddress>
            <AddressLine1Txt>221 NORTH HOGAN STREET 403</AddressLine1Txt>
            <CityNm>JACKSONVILLE</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32202</ZIPCd>
          </USAddress>
          <TitleTxt>EXECUTIVE DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>250196</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>12893</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LISA N RAUCK</PersonNm>
          <USAddress>
            <AddressLine1Txt>221 NORTH HOGAN STREET 403</AddressLine1Txt>
            <CityNm>JACKSONVILLE</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32202</ZIPCd>
          </USAddress>
          <TitleTxt>VP OF FINANCE AND PROGRAMMING</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>125235</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>EXPENSES RELATED TO ATTENDING NASCO CONFERENCE, SUPPORTING WILD SALMON CONSERVATION EFFORTS AND ASSISTING IN STARTING A GLOBAL AQUACULTURE CAMPAIGN.</Description1Txt>
        <Expenses1Amt>23542</Expenses1Amt>
        <Description2Txt>EXPENSES RELATED TO SUPPORTING AND PARTICIPATING IN MARINE DEBRIS CLEAN UP EVENTS IN FLORIDA AND THE BAHAMAS.</Description2Txt>
        <Expenses2Amt>14872</Expenses2Amt>
        <Description3Txt>EXPENSES RELATED TO SUPPORTING THE HONORS CAROLINA CAREER SERVICES OFFICE AT UNC.</Description3Txt>
        <Expenses3Amt>1771</Expenses3Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>12123115</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>6798386</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>469504</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>19391005</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>19391005</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>290865</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>19100140</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>955007</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>955007</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>11820</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>11820</TotalTaxAmt>
        <DistributableBeforeAdjAmt>943187</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>943187</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>943187</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>1726029</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>1726029</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>943187</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>142825</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr3Amt>557949</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>94476</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>422602</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>1217852</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>1726029</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>943187</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>782842</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>2000694</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>142825</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>1857869</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear3Amt>557949</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>94476</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>422602</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>782842</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>CHAD R PIKE</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ATLANTIC SALMON FEDERATION (ASF)</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 807</AddressLine1Txt>
            <CityNm>CALAIS</CityNm>
            <StateAbbreviationCd>ME</StateAbbreviationCd>
            <ZIPCd>04619</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GREENLAND PROGRAMMING</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BONEFISH &amp; TARPON TRUST (BTT)</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2937 SW 27TH AVENUE SUITE 203</AddressLine1Txt>
            <CityNm>MIAMI</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33133</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>BAHAMAS MANGROVE PROJECT</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>COMMUNITY FOUNDATION OF GREATER CHATTANOOGA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1400 WILLIAMS STREET</AddressLine1Txt>
            <CityNm>CHATTANOOGA</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>37408</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>FBO NASF</GrantOrContributionPurposeTxt>
          <Amt>102000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GD RADIO</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>117 WATERHOLE ROAD</AddressLine1Txt>
            <CityNm>EAST HAMPTON</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06424</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GLOBAL OUTREACH PROGRAM</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>KBUT RADIO</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 308</AddressLine1Txt>
            <CityNm>CRESTED BUTTE</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>81224</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>WINTER PLEDGE DRIVE</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>OCEANAID360</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>125 18TH AVE S</AddressLine1Txt>
            <CityNm>ST PETERSBURG</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33705</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>MARINE DEBRIS CLEAN UP EVENTS IN FLORIDA AND THE BAHAMAS</GrantOrContributionPurposeTxt>
          <Amt>170186</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE NATURE CONSERVANCY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>4245 FAIRFAX DRIVE</AddressLine1Txt>
            <CityNm>ARLINGTON</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>22203</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CARBON OFFSETS</GrantOrContributionPurposeTxt>
          <Amt>45500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNC GOANYWHERE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>523 E FRANKLIN STREET</AddressLine1Txt>
            <CityNm>CHAPEL HILL</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27514</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>HONORS CAROLINA CAREER SERVICES PROGRAMMING &amp; STAFFING</GrantOrContributionPurposeTxt>
          <Amt>735218</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>WILD SALMON CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2001 NW 19TH AVE STE 200</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97209</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>WEST SUSITNA INDUSTRIAL ACCESS ROAD CAMPAIGN</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>1187904</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>291784</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>563543</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>-2350215</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>-1494888</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>-1494888</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <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>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>TAX SERVICES</CategoryTxt>
        <Amt>6888</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>6888</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <ExpenditureResponsibilityStmt documentId="RetDoc2118100001">
      <ExpenditureResponsibilityGrp>
        <BusinessName>
          <BusinessNameLine1Txt>GD RADIO</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>117 WATERHOLE ROAD</AddressLine1Txt>
          <CityNm>EAST HAMPTON</CityNm>
          <StateAbbreviationCd>CT</StateAbbreviationCd>
          <ZIPCd>06424</ZIPCd>
        </USAddress>
        <GrantDt>2023-06-30</GrantDt>
        <GrantAmt>5000</GrantAmt>
        <PurposeOfGrantTxt>GLOBAL OUTREACH PROGRAM</PurposeOfGrantTxt>
        <ExpendedByGranteeAmt>5127</ExpendedByGranteeAmt>
        <AnyDiversionByGranteeTxt>NONE</AnyDiversionByGranteeTxt>
        <DatesOfReportsByGranteeTxt>10/22/2023</DatesOfReportsByGranteeTxt>
      </ExpenditureResponsibilityGrp>
    </ExpenditureResponsibilityStmt>
    <InvestmentsGovtObligationsSch documentId="RetDoc2210400001">
      <USGovtObligationsBookVlEOYAmt>4969930</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>4969930</USGovtObligationsEOYFMVAmt>
      <StateLocalSecBookVlEOYAmt>0</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>0</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD BANK HAPOALIM B.M.</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>237662</BookValueAmt>
        <EOYFMVAmt>237662</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD BANK OF AMERICA NA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>238267</BookValueAmt>
        <EOYFMVAmt>238267</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD BANK OF CHINA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>240166</BookValueAmt>
        <EOYFMVAmt>240166</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD BANK OF INDIA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>241340</BookValueAmt>
        <EOYFMVAmt>241340</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD CAPSTAR BANK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>236841</BookValueAmt>
        <EOYFMVAmt>236841</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD CHARLES SCHWAB BANK,S</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>242769</BookValueAmt>
        <EOYFMVAmt>242769</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD CITIZENS BANK NA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>236867</BookValueAmt>
        <EOYFMVAmt>236867</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD FULTON BANK NA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>236867</BookValueAmt>
        <EOYFMVAmt>236867</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD GOLDMAN SACHS BANK US</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>240077</BookValueAmt>
        <EOYFMVAmt>240077</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD MORGAN STANLEY BANK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>236912</BookValueAmt>
        <EOYFMVAmt>236912</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD MORGAN STANLEY PRIVAT</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>236578</BookValueAmt>
        <EOYFMVAmt>236578</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD OCEANFIRST BANK NA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>236846</BookValueAmt>
        <EOYFMVAmt>236846</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD PNC BANK, NATIONAL AS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>239906</BookValueAmt>
        <EOYFMVAmt>239906</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD STATE BANK OF INDIA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>243321</BookValueAmt>
        <EOYFMVAmt>243321</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD TRUIST BANK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>237800</BookValueAmt>
        <EOYFMVAmt>237800</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD VALLEY NATL BK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>242861</BookValueAmt>
        <EOYFMVAmt>242861</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD WEBBANK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>237377</BookValueAmt>
        <EOYFMVAmt>237377</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD WELLS FARGO BANK NA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>237462</BookValueAmt>
        <EOYFMVAmt>237462</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CD ZIONS BANCORPORATION,</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>239993</BookValueAmt>
        <EOYFMVAmt>239993</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DN JPMORGAN CHASE BANK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>236194</BookValueAmt>
        <EOYFMVAmt>236194</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LANDELDI/FIRST WATER PRIVATE EQUITY INVESTMENT</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>1024373</BookValueAmt>
        <EOYFMVAmt>1024373</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MENHADEN RESOURCE 2,000,000 SHS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2568600</BookValueAmt>
        <EOYFMVAmt>2568600</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>GENERAL LEGAL COUNSEL</CategoryTxt>
        <LegalFeesAmt>9538</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>9538</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>DUES AND SUBSCRIPTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>2279</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2279</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PHONE</Desc>
        <RevenueAndExpensesPerBooksAmt>277</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>277</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSES AND SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>4597</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4597</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>13900</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>13900</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PAYROLL PROCESSING FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>3335</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3335</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>60</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>60</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>GRANTS MANAGEMENT SOFTWARE</Desc>
        <RevenueAndExpensesPerBooksAmt>3500</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3500</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="RetDoc2049700001">
      <OtherIncreasesDetail>
        <Desc>UNREALIZED GAINS ON INVESTMENTS</Desc>
        <Amt>3114745</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherLiabilitiesSchedule documentId="RetDoc2065700001">
      <OtherLiabilitiesDetail>
        <Desc>PAYROLL CLEARING ACCOUNT</Desc>
        <BOYBookValueAmt>1734</BOYBookValueAmt>
        <EOYBookValueAmt>137</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>ADMINISTRATIVE CONSULTANT</CategoryTxt>
        <Amt>720</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>720</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>PROGRAM SERVICE CONSULTANT</CategoryTxt>
        <Amt>2180</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2180</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE TAXES PAID</CategoryTxt>
        <Amt>12300</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>