﻿<?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>2024-08-05T11:25:10-05:00</ReturnTs>
    <TaxPeriodEndDt>2023-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>941341042</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>FRANK RIMERMAN &amp; CO LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>60 S MARKET STREET SUITE 500</AddressLine1Txt>
        <CityNm>SAN JOSE</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>95113</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>942460896</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>ARRILLAGA FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>ARRI</BusinessNameControlTxt>
      <PhoneNum>6506187000</PhoneNum>
      <USAddress>
        <AddressLine1Txt>2450 WATSON COURT</AddressLine1Txt>
        <CityNm>PALO ALTO</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>94303</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>JOHN ARRILLAGA JR</PersonNm>
      <PersonTitleTxt>CO-PRESIDENT</PersonTitleTxt>
      <PhoneNum>6506187000</PhoneNum>
      <SignatureDt>2024-08-02</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>1</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>SHELLEY CHEN</PreparerPersonNm>
      <PTIN>P00529935</PTIN>
      <PhoneNum>4082795566</PhoneNum>
      <PreparationDt>2024-08-02</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2024-08-08 14:25:15Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>31817642</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>1053163</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>1053163</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>1232806</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>12496820</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>0</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc2001500001">2084</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>0</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>2288053</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>1053163</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">10421</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>0</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">51010</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>0</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>0</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">800</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>0</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">160</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>0</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>0</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>62391</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>0</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>3395001</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>8415503</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>3457392</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>0</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>8415503</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-1169339</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>1053163</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>48911</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>36158</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>36158</SavAndTempCashInvstEOYFMVAmt>
        <OtherInvestmentsBOYAmt>37958572</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">31781484</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>31781484</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>38007483</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>31817642</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>31817642</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="RetDoc2065700001">10020502</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="RetDoc2065700001">5000000</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>10020502</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>5000000</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>27986981</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>26817642</NoDonorRstrNetAssestsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>27986981</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>26817642</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>38007483</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>31817642</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>27986981</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-1169339</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>26817642</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>26817642</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>24,504.692 SHARES OF PYLDX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-06-02</AcquiredDt>
          <SoldDt>2023-01-17</SoldDt>
          <GrossSalesPriceAmt>235000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>237162</CostOrOtherBasisAmt>
          <GainOrLossAmt>-2162</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-2162</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1,556.017 SHARES OF PYLDX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-06-02</AcquiredDt>
          <SoldDt>2023-05-16</SoldDt>
          <GrossSalesPriceAmt>15000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>15022</CostOrOtherBasisAmt>
          <GainOrLossAmt>-22</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-22</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2.075 SHARES OF PYLDX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-06-02</AcquiredDt>
          <SoldDt>2023-05-16</SoldDt>
          <GrossSalesPriceAmt>20</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>20</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>6,260.928 SHARES OF PYUSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-03-30</AcquiredDt>
          <SoldDt>2023-01-17</SoldDt>
          <GrossSalesPriceAmt>59103</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>61387</CostOrOtherBasisAmt>
          <GainOrLossAmt>-2284</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-2284</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1,069.655 SHARES OF PYGSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-10-30</AcquiredDt>
          <SoldDt>2023-11-14</SoldDt>
          <GrossSalesPriceAmt>10172</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>10140</CostOrOtherBasisAmt>
          <GainOrLossAmt>32</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>32</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>43,350.384 SHARES OF PYGNX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-07-28</AcquiredDt>
          <SoldDt>2023-01-17</SoldDt>
          <GrossSalesPriceAmt>339000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>364031</CostOrOtherBasisAmt>
          <GainOrLossAmt>-25031</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-25031</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>174,083.130 SHARES OF PYVSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-07-24</AcquiredDt>
          <SoldDt>2023-01-17</SoldDt>
          <GrossSalesPriceAmt>2848000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2948523</CostOrOtherBasisAmt>
          <GainOrLossAmt>-100523</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-100523</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>31,230.481 SHARES OF PYVSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-07-24</AcquiredDt>
          <SoldDt>2023-12-07</SoldDt>
          <GrossSalesPriceAmt>500000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>514432</CostOrOtherBasisAmt>
          <GainOrLossAmt>-14432</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-14432</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>22,928.010 SHARES OF PYVSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-07-24</AcquiredDt>
          <SoldDt>2023-12-28</SoldDt>
          <GrossSalesPriceAmt>379000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>393979</CostOrOtherBasisAmt>
          <GainOrLossAmt>-14979</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-14979</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>47,973.382 SHARES OF PYVSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-07-24</AcquiredDt>
          <SoldDt>2023-12-28</SoldDt>
          <GrossSalesPriceAmt>793000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>823223</CostOrOtherBasisAmt>
          <GainOrLossAmt>-30223</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-30223</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>32,849.365 SHARES OF PYVSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-07-24</AcquiredDt>
          <SoldDt>2023-12-28</SoldDt>
          <GrossSalesPriceAmt>543000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>563695</CostOrOtherBasisAmt>
          <GainOrLossAmt>-20695</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-20695</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2.086 SHARES OF PYLDX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-06-02</AcquiredDt>
          <SoldDt>2023-11-14</SoldDt>
          <GrossSalesPriceAmt>20</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>20</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>71,403.120 SHARES OF PYLDX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-07-11</AcquiredDt>
          <SoldDt>2023-11-14</SoldDt>
          <GrossSalesPriceAmt>684756</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>688670</CostOrOtherBasisAmt>
          <GainOrLossAmt>-3914</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-3914</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>14,536.082 SHARES OF PYLDX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-07-11</AcquiredDt>
          <SoldDt>2023-12-28</SoldDt>
          <GrossSalesPriceAmt>141000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>140081</CostOrOtherBasisAmt>
          <GainOrLossAmt>919</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>919</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>171,617.162 SHARES OF PYCHX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2015-05-13</AcquiredDt>
          <SoldDt>2023-01-17</SoldDt>
          <GrossSalesPriceAmt>1040000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1109436</CostOrOtherBasisAmt>
          <GainOrLossAmt>-69436</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-69436</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>171,526.587 SHARES OF PYCHX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-08-06</AcquiredDt>
          <SoldDt>2023-10-19</SoldDt>
          <GrossSalesPriceAmt>1000000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1144595</CostOrOtherBasisAmt>
          <GainOrLossAmt>-144595</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-144595</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>3.431 SHARES OF PYCHX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2013-05-31</AcquiredDt>
          <SoldDt>2023-10-19</SoldDt>
          <GrossSalesPriceAmt>20</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>21</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>290,384.615 SHARES OF PYCHX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-03-30</AcquiredDt>
          <SoldDt>2023-12-28</SoldDt>
          <GrossSalesPriceAmt>1812000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1932299</CostOrOtherBasisAmt>
          <GainOrLossAmt>-120299</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-120299</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>44,374.665 SHARES OF PYUSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2021-01-23</AcquiredDt>
          <SoldDt>2023-01-17</SoldDt>
          <GrossSalesPriceAmt>418897</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>446304</CostOrOtherBasisAmt>
          <GainOrLossAmt>-27407</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-27407</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>11,595.745 SHARES OF PYUSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-03-30</AcquiredDt>
          <SoldDt>2023-12-28</SoldDt>
          <GrossSalesPriceAmt>109000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>112876</CostOrOtherBasisAmt>
          <GainOrLossAmt>-3876</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-3876</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>36,726.128 SHARES OF PYGSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-07-08</AcquiredDt>
          <SoldDt>2023-01-11</SoldDt>
          <GrossSalesPriceAmt>350000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>365824</CostOrOtherBasisAmt>
          <GainOrLossAmt>-15824</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-15824</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2.099 SHARES OF PYGSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-06-04</AcquiredDt>
          <SoldDt>2023-01-11</SoldDt>
          <GrossSalesPriceAmt>20</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>21</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2.096 SHARES OF PYGSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2021-01-23</AcquiredDt>
          <SoldDt>2023-01-17</SoldDt>
          <GrossSalesPriceAmt>20</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>21</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>6,289.308 SHARES OF PYGSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2021-01-23</AcquiredDt>
          <SoldDt>2023-01-17</SoldDt>
          <GrossSalesPriceAmt>60000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>62752</CostOrOtherBasisAmt>
          <GainOrLossAmt>-2752</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-2752</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2.103 SHARES OF PYGSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-06-29</AcquiredDt>
          <SoldDt>2023-07-19</SoldDt>
          <GrossSalesPriceAmt>20</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>21</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>10,515.247 SHARES OF PYGSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-07-11</AcquiredDt>
          <SoldDt>2023-07-19</SoldDt>
          <GrossSalesPriceAmt>100000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>101158</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1158</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1158</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>32,079.039 SHARES OF PYGSX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-10-28</AcquiredDt>
          <SoldDt>2023-11-14</SoldDt>
          <GrossSalesPriceAmt>305072</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>308529</CostOrOtherBasisAmt>
          <GainOrLossAmt>-3457</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-3457</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2.656 SHARES OF PYGNX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-07-28</AcquiredDt>
          <SoldDt>2023-12-07</SoldDt>
          <GrossSalesPriceAmt>20</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>20</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>66,401.062 SHARES OF PYGNX</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-07-28</AcquiredDt>
          <SoldDt>2023-12-07</SoldDt>
          <GrossSalesPriceAmt>500000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>500000</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS - PAYDEN &amp; RYGEL</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-01-01</AcquiredDt>
          <SoldDt>2023-12-31</SoldDt>
          <GrossSalesPriceAmt>254680</GrossSalesPriceAmt>
          <GainOrLossAmt>254680</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>254680</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>UNREALIZED GAIN</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-12-31</AcquiredDt>
          <SoldDt>2023-12-31</SoldDt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>-347442</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>14639</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>14639</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>14639</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>34788</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>34788</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <OverpaymentAmt>20149</OverpaymentAmt>
        <AppliedToESTaxAmt>20149</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>CA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>LAURA ARRILLAGA-ANDREESSEN</IndividualWithBooksNm>
        <PhoneNum>6506187000</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>2450 WATSON COURT</AddressLine1Txt>
          <CityNm>PALO ALTO</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>94303</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <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>LAURA ARRILLAGA-ANDREESSEN</PersonNm>
          <USAddress>
            <AddressLine1Txt>2450 WATSON COURT</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94303</ZIPCd>
          </USAddress>
          <TitleTxt>CO-PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>20.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOHN ARRILLAGA JR</PersonNm>
          <USAddress>
            <AddressLine1Txt>2450 WATSON COURT</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94303</ZIPCd>
          </USAddress>
          <TitleTxt>CO-PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARC ANDREESSEN</PersonNm>
          <USAddress>
            <AddressLine1Txt>2450 WATSON COURT</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94303</ZIPCd>
          </USAddress>
          <TitleTxt>TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JUSTINE STAMEN ARRILLAGA</PersonNm>
          <USAddress>
            <AddressLine1Txt>2450 WATSON COURT</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94303</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>32431584</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>45403</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>32476987</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>32476987</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>487155</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>31989832</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>1599492</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>1599492</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>14639</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>14639</TotalTaxAmt>
        <DistributableBeforeAdjAmt>1584853</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>1584853</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>1584853</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>8415503</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>8415503</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>1584853</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr2Amt>7302407</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>13920374</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>21222781</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>8415503</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>1584853</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>6830650</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>28053431</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>28053431</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear2Amt>7302407</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>13920374</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>6830650</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>JOHN ARRILLAGA JR</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2450 WATSON COURT</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94303</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>6506187000</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>LETTER WITH ANY APPLICABLE BROCHURES.</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NONE</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>NONE, EXCEPT MUST QUALIFY UNDER CODE SECTION 501(C)(3).</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MENLO COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1000 EL CAMINO REAL</AddressLine1Txt>
            <CityNm>ATHERTON</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>940274301</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>MENLO COLLEGE DORMITORY MODIFICATIONS</GrantOrContributionPurposeTxt>
          <Amt>20503</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>IOLANI SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>563 KAMOKU STREET</AddressLine1Txt>
            <CityNm>HONOLULU</CityNm>
            <StateAbbreviationCd>HI</StateAbbreviationCd>
            <ZIPCd>96826</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>BUILDING NEW STUDENT CENTER</GrantOrContributionPurposeTxt>
          <Amt>5000000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>STANFORD UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>326 GALVEZ STREET</AddressLine1Txt>
            <CityNm>STANFORD</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>943056105</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>THE STANFORD CENTER ON PHILANTHROPY AND CIVIL SOCIETY</GrantOrContributionPurposeTxt>
          <Amt>350000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>OUR BROTHER'S HOME</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 1581</AddressLine1Txt>
            <CityNm>MOUNTAIN VIEW</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94042</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>STANFORD UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>326 GALVEZ STREET</AddressLine1Txt>
            <CityNm>STANFORD</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>943056105</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>THE STANFORD CENTER ON PHILANTHROPY AND CIVIL SOCIETY</GrantOrContributionPurposeTxt>
          <Amt>500000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>JASPER RIDGE FARM</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 620924</AddressLine1Txt>
            <CityNm>WOODSIDE</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94062</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LUCILE PACKARD FOUNDATION FOR CHILDREN'S HEALTH</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>400 HAMILTON AVE SUITE 340</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94301</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PANS EPIDEMIOLOGICAL RESEARCH FUND</GrantOrContributionPurposeTxt>
          <Amt>1000000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>EMBARCADERO MEDIA FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>450 CAMBRIDGE AVE</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94306</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>HOLIDAY FUND</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PACIFIC LEGAL FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>555 CAPITOL MALL SUITE 1290</AddressLine1Txt>
            <CityNm>SACRAMENTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>95814</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE DANIEL R SAYRE MEMORIAL FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 1285</AddressLine1Txt>
            <CityNm>KAILUAKONA</CityNm>
            <StateAbbreviationCd>HI</StateAbbreviationCd>
            <ZIPCd>96745</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>AIRBUS H-145 AEROMEDICAL HELICOPTER</GrantOrContributionPurposeTxt>
          <Amt>1000000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>OPERATION FREEDOM PAWS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>777 FIRST STREET PMB 515</AddressLine1Txt>
            <CityNm>GILROY</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>95020</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>STANFORD UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>326 GALVEZ STREET</AddressLine1Txt>
            <CityNm>STANFORD</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>943056105</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>THE MARC AND LAURA ANDREESSEN FACULTY DIRECTORSHIP FUND FOR STANFORD PACS</GrantOrContributionPurposeTxt>
          <Amt>500000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>8415503</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>1053163</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2084</ExclusionAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>1232806</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>2288053</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>2288053</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>ACCOUNTING FEES</CategoryTxt>
        <Amt>51010</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PAYDEN FUNDS MUTUAL FUNDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>31781484</BookValueAmt>
        <EOYFMVAmt>31781484</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>10421</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>FEES &amp; NOTARY COSTS</Desc>
        <RevenueAndExpensesPerBooksAmt>160</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>NONDIVIDEND DISTRIBUTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>2084</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>2084</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="RetDoc2065700001">
      <OtherLiabilitiesDetail>
        <Desc>PLEDGES PAYABLE</Desc>
        <BOYBookValueAmt>10020502</BOYBookValueAmt>
        <EOYBookValueAmt>5000000</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>STATE TAX</CategoryTxt>
        <Amt>800</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>