﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2023v5.1" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-11-14T04:57:50-08:00</ReturnTs>
    <TaxPeriodEndDt>2024-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>591951801</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Natherson &amp; Company PA</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1801 Glengary Street Floor 2</AddressLine1Txt>
        <CityNm>Sarasota</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>34231</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>760520860</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>WJ &amp; Lela Budwine Foundation Inc</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>WJ&amp;L</BusinessNameControlTxt>
      <PhoneNum>9412243939</PhoneNum>
      <USAddress>
        <AddressLine1Txt>9423 Portside Terrace</AddressLine1Txt>
        <CityNm>Bradenton</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>34212</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Sharon Bourdreaux</PersonNm>
      <PersonTitleTxt>President</PersonTitleTxt>
      <SignatureDt>2024-11-13</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>Leonard A Belli CPA</PreparerPersonNm>
      <PTIN>P00044582</PTIN>
      <PhoneNum>9419231881</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2024-10-15 13:58:12Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation" softwareId="23017517" softwareVersionNum="2023v5.1">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>1917434</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>49513</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>49513</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>49513</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>-16230</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>358397</GrossSalesPriceAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSchedule2">-6236</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>-6236</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>27047</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>43277</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>49513</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>63000</CompOfcrDirTrstRevAndExpnssAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">4038</AccountingFeesRevAndExpnssAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">354</TaxesRevAndExpnssAmt>
        <TravConfMeetingRevAndExpnssAmt>1621</TravConfMeetingRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">17838</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>17775</OtherExpensesNetInvstIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>86851</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>17775</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>90000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>90000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>176851</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>17775</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>90000</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-149804</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>25502</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>49513</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>54282</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>219617</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>219617</SavAndTempCashInvstEOYFMVAmt>
        <OtherInvestmentsBOYAmt>1806037</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvestmentsOtherSchedule2">1489930</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>1697817</OtherInvestmentsEOYFMVAmt>
        <LandBldgEquipCostOrOtherBssAmt>1493</LandBldgEquipCostOrOtherBssAmt>
        <LandBldgEquipAccumDeprecAmt>1493</LandBldgEquipAccumDeprecAmt>
        <TotalAssetsBOYAmt>1860319</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>1709547</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>1917434</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="OtherLiabilitiesSchedule">1322</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="OtherLiabilitiesSchedule">354</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>1322</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>354</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>1858997</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>1709193</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1858997</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>1709193</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1860319</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1709547</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1858997</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-149804</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>1709193</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>1709193</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>760 Archer Daniels Midland Co</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-03-12</AcquiredDt>
          <SoldDt>2024-01-25</SoldDt>
          <GrossSalesPriceAmt>38995</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>25459</CostOrOtherBasisAmt>
          <GainOrLossAmt>13536</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>13536</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>3,600 JPMorgan Ultra-Short Income ETF Corp</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-07-30</AcquiredDt>
          <SoldDt>2023-08-28</SoldDt>
          <GrossSalesPriceAmt>180632</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>181818</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1186</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1186</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>7,700 ProShares VIX Short-Term Futures ETF</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-08-28</AcquiredDt>
          <SoldDt>2023-11-22</SoldDt>
          <GrossSalesPriceAmt>138769</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>167350</CostOrOtherBasisAmt>
          <GainOrLossAmt>-28581</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-28581</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>ProShares VIX Short-Term Futures ETF K-1</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-06-30</AcquiredDt>
          <SoldDt>2023-12-31</SoldDt>
          <GrossSalesPriceAmt>1</GrossSalesPriceAmt>
          <GainOrLossAmt>1</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>-16230</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>-28580</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>354</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>354</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>354</TaxBasedOnInvestmentIncomeAmt>
        <TaxDueAmt>354</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>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>TX</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>Sharon Boudreaux</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>9412243939</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>9423 Portside Terrace</AddressLine1Txt>
          <CityNm>Bradenton</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>34212</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>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Andrea Routh</PersonNm>
          <USAddress>
            <AddressLine1Txt>306 58th Unit B</AddressLine1Txt>
            <CityNm>Holmes Beach</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34217</ZIPCd>
          </USAddress>
          <TitleTxt>Secretary</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>3.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>9000</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Sharon Boudreaux</PersonNm>
          <USAddress>
            <AddressLine1Txt>9423 Portside Terrace</AddressLine1Txt>
            <CityNm>Bradenton</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34212</ZIPCd>
          </USAddress>
          <TitleTxt>President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>8.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>36000</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>May Wang</PersonNm>
          <USAddress>
            <AddressLine1Txt>8100 Cambridge Street</AddressLine1Txt>
            <CityNm>Houston</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>770543100</ZIPCd>
          </USAddress>
          <TitleTxt>Treasurer</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>3.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>18000</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>0</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>219087</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>1707914</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>1927001</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>1927001</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>28905</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>1898096</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>94905</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>94905</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>354</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>354</TotalTaxAmt>
        <DistributableBeforeAdjAmt>94551</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>94551</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>94551</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>90000</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>90000</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>94551</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>2503737</ExcessDistributionCyovYr5Amt>
        <TotalExcessDistributionCyovAmt>2503737</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>90000</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>90000</AppliedToCurrentYearAmt>
        <ExcessDistriCyovAppCYCorpusAmt>4551</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>4551</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>2499186</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>2499186</ExcessDistriCyovFromYr5Amt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Manatee Community Foundation</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2820 Manatee Avenue West</AddressLine1Txt>
            <CityNm>Bradenton</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34205</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Charity</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Florida West Coast Symphony Inc</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>709 N Tamiami Trl</AddressLine1Txt>
            <CityNm>Sarasota</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34236</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Youth Orchestra - Education</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Florida Studio Theatre</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1241 North Palm Ave</AddressLine1Txt>
            <CityNm>Sarasota</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34236</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Charity</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>WUSF Public Media</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>4202 East Fowler Avenue WRB101</AddressLine1Txt>
            <CityNm>Tampa</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33620</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Charity</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Women Resource Center of Manatee In</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1926 Manatee Ave W</AddressLine1Txt>
            <CityNm>Bradenton</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34205</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Charity</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Cal State Fullerton Philanthropic F</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2600 Nutwood Ave 850</AddressLine1Txt>
            <CityNm>Fullerton</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>92831</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Education - Erhard Institute for Leadership Studies</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>90000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>49513</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>-16230</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>Proshares VIX ST Futures ETF</Desc>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>-15756</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>Royalty Income</Desc>
          <ExclusionCd>15</ExclusionCd>
          <ExclusionAmt>9520</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>27047</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>27047</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <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>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule" softwareId="23017517" softwareVersionNum="2023v5.1">
      <AccountingFeesDetail>
        <CategoryTxt>Accounting software</CategoryTxt>
        <Amt>288</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
      <AccountingFeesDetail>
        <CategoryTxt>Tax preparation fees</CategoryTxt>
        <Amt>3750</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="23017517" softwareVersionNum="2023v5.1">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>The Necessity Retail REIT</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TD Ameritrade - 1333</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Charles Schwab - 0822</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>1100676</BookValueAmt>
        <EOYFMVAmt>1612623</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Global Net Lease - REIT</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>389254</BookValueAmt>
        <EOYFMVAmt>85194</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="LandEtcSchedule2" softwareId="23017517" softwareVersionNum="2023v5.1">
      <LandEtcGrp>
        <CategoryOrItemTxt>Machinery and Equipment</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1493</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1493</AccumulatedDepreciationAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="23017517" softwareVersionNum="2023v5.1">
      <OtherExpensesScheduleGrp>
        <Desc>Bank Service Charges</Desc>
        <RevenueAndExpensesPerBooksAmt>42</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>42</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Dues and Subscriptions</Desc>
        <RevenueAndExpensesPerBooksAmt>16</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Investment Fees</Desc>
        <RevenueAndExpensesPerBooksAmt>17327</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>17327</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Penalties</Desc>
        <RevenueAndExpensesPerBooksAmt>47</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ProShares VIX Short-Term Futures ETF -K1</Desc>
        <RevenueAndExpensesPerBooksAmt>406</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>406</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2" softwareId="23017517" softwareVersionNum="2023v5.1">
      <OtherIncomeDetail>
        <Desc>Proshares VIX ST Futures ETF</Desc>
        <RevenueAndExpensesPerBooksAmt>-15756</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-15756</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>Royalty Income</Desc>
        <RevenueAndExpensesPerBooksAmt>9520</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>9520</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="OtherLiabilitiesSchedule" softwareId="23017517" softwareVersionNum="2023v5.1">
      <OtherLiabilitiesDetail>
        <Desc>Excise Tax Payable</Desc>
        <BOYBookValueAmt>1322</BOYBookValueAmt>
        <EOYBookValueAmt>354</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="23017517" softwareVersionNum="2023v5.1">
      <TaxesDetail>
        <CategoryTxt>Excise Tax</CategoryTxt>
        <Amt>354</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>