﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-09-08T17:49:33-04:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>332042639</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>FORD BLACK LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>6950 SW HAMPTON ST SUITE 100</AddressLine1Txt>
        <CityNm>TIGARD</CityNm>
        <StateAbbreviationCd>OR</StateAbbreviationCd>
        <ZIPCd>97223</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>931135081</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>LEATHERS FAMILY FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>LEAT</BusinessNameControlTxt>
      <PhoneNum>4154531448</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 1186</AddressLine1Txt>
        <CityNm>ROSS</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>94957</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>JENNIFER LEATHERS</PersonNm>
      <PersonTitleTxt>SECRETARY</PersonTitleTxt>
      <PhoneNum>4154531448</PhoneNum>
      <SignatureDt>2025-08-20</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>LINDA SMYTH</PreparerPersonNm>
      <PTIN>P00140105</PTIN>
      <PhoneNum>5032280228</PhoneNum>
      <PreparationDt>2025-08-25</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="12">
    <IRS990PF documentId="RetDoc14">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2860342</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>8397</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>8397</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>8397</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>64448</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>64448</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>64448</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt referenceDocumentId="RetDoc5">39860</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>43334</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>1712</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc12">8</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>8</OtherIncomeNetInvstIncmAmt>
        <OtherIncomeAdjNetIncmAmt>8</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>112713</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>74565</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>72853</TotalAdjNetIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc3">2750</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>2750</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>2750</AccountingFeesAdjNetIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc13">5025</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>5025</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>5025</TaxesAdjNetIncmAmt>
        <DeprecAndDpltnRevAndExpnssAmt referenceDocumentId="RetDoc4">391</DeprecAndDpltnRevAndExpnssAmt>
        <DeprecAndDpltnNetInvstIncmAmt>391</DeprecAndDpltnNetInvstIncmAmt>
        <DeprecAndDpltnAdjNetIncmAmt>391</DeprecAndDpltnAdjNetIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc10">20425</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>20425</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesAdjNetIncmAmt>20425</OtherExpensesAdjNetIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>28591</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>28591</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>28591</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>45500</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>45500</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>74091</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>28591</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>28591</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>45500</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>38622</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>45974</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>44262</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>34650</CashBOYAmt>
        <CashEOYAmt>88283</CashEOYAmt>
        <CashEOYFMVAmt>88283</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>157120</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>108637</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>108637</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>1437522</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc6">1605099</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>1605099</CorporateStockEOYFMVAmt>
        <OtherInvestmentsBOYAmt>1189229</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc7">1058323</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>1058323</OtherInvestmentsEOYFMVAmt>
        <LandBldgEquipCostOrOtherBssAmt>5326</LandBldgEquipCostOrOtherBssAmt>
        <LandBldgEquipAccumDeprecAmt>5098</LandBldgEquipAccumDeprecAmt>
        <LandBOYAmt>619</LandBOYAmt>
        <LandEOYAmt referenceDocumentId="RetDoc8">228</LandEOYAmt>
        <TotalAssetsBOYAmt>2819140</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>2860570</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2860342</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>2819140</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>2860570</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>2819140</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>2860570</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>2819140</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>2860570</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>2819140</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>38622</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc11">3767</OtherIncreasesAmt>
        <SubtotalAmt>2861529</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="RetDoc9">959</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>2860570</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapitalGainNetIncomeAmt>1712</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>639</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>639</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>639</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>700</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>700</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc2">X</Form2220AttachedInd>
        <EsPenaltyAmt>12</EsPenaltyAmt>
        <OverpaymentAmt>49</OverpaymentAmt>
        <AppliedToESTaxAmt>49</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>false</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>OR</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>true</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>EDWARD LEATHERS</IndividualWithBooksNm>
        <PhoneNum>4154531448</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>PO BOX 1186</AddressLine1Txt>
          <CityNm>ROSS</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>94957</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>
        <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>ROBERT LEATHERS</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 1186</AddressLine1Txt>
            <CityNm>ROSS</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>949571186</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JENNIFER LEATHERS</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 1186</AddressLine1Txt>
            <CityNm>ROSS</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>949571186</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>GANGAGI FOUNDATION, 364 HELMAN ST, ASHLAND, OR 97520. RELIGIOUS AND SPIRITUAL ORGANIZATION.</Description1Txt>
        <Expenses1Amt>15000</Expenses1Amt>
        <Description2Txt>MARIN ART &amp; GARDEN, SIR FRANCES DRAKE BLVD, ROSS, CA 94903. CULTURAL ORGANIZATION.</Description2Txt>
        <Expenses2Amt>11500</Expenses2Amt>
        <Description3Txt>OPEN CIRCLE CENTER, PO BOX 11201, BERKELEY, CA 94712. RELIGIOUS AND SPIRITUAL ORGANIZATION.</Description3Txt>
        <Expenses3Amt>10000</Expenses3Amt>
        <Description4Txt>SPIRIT ROCK MEDITATION, 5000 SIR FRANCES DRAKE BLVD, BOX 169, WOODACRE, CA 94973. RELIGIOUS AND SPIRITUAL ORGANIZATION.</Description4Txt>
        <Expenses4Amt>5000</Expenses4Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>1521310</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>194346</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>1123777</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2839433</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2839433</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>42591</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2796842</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>139842</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <Sect4942j3j5FndtnAndFrgnOrgInd>X</Sect4942j3j5FndtnAndFrgnOrgInd>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>45500</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>45500</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <QualifyingDistributionsAmt>45500</QualifyingDistributionsAmt>
        <RemainingDistriFromCorpusAmt>45500</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>45500</TotalCorpusAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp>
        <Section4942j3Ind>X</Section4942j3Ind>
        <LessorAdjNetIncmMinInvstRetGrp>
          <CurrentYearAmt>44262</CurrentYearAmt>
          <Year1Amt>46641</Year1Amt>
          <Year2Amt>42926</Year2Amt>
          <Year3Amt>38883</Year3Amt>
          <TotalAmt>172712</TotalAmt>
        </LessorAdjNetIncmMinInvstRetGrp>
        <Pct85LessorAdjIncmOrMinRetGrp>
          <CurrentYearAmt>37623</CurrentYearAmt>
          <Year1Amt>39645</Year1Amt>
          <Year2Amt>36487</Year2Amt>
          <Year3Amt>33051</Year3Amt>
          <TotalAmt>146806</TotalAmt>
        </Pct85LessorAdjIncmOrMinRetGrp>
        <QualifyingDistributionsGrp>
          <CurrentYearAmt>45500</CurrentYearAmt>
          <Year1Amt>37300</Year1Amt>
          <Year2Amt>35200</Year2Amt>
          <Year3Amt>33300</Year3Amt>
          <TotalAmt>151300</TotalAmt>
        </QualifyingDistributionsGrp>
        <QualifyingDistriMadeDrtGrp>
          <CurrentYearAmt>45500</CurrentYearAmt>
          <Year1Amt>37300</Year1Amt>
          <Year2Amt>35200</Year2Amt>
          <Year3Amt>33300</Year3Amt>
          <TotalAmt>151300</TotalAmt>
        </QualifyingDistriMadeDrtGrp>
        <TwoThirdsMinimumInvstRetGrp>
          <CurrentYearAmt>93228</CurrentYearAmt>
          <Year1Amt>90575</Year1Amt>
          <Year2Amt>100832</Year2Amt>
          <Year3Amt>104424</Year3Amt>
          <TotalAmt>389059</TotalAmt>
        </TwoThirdsMinimumInvstRetGrp>
      </PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ROSS PROPERTY OWNERS ASSOC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 747</AddressLine1Txt>
            <CityNm>ROSS</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94957</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>PUBLIC RECREATION</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MARIN ART &amp; GARDEN</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>SIR FRANCIS DRAKE BLVD</AddressLine1Txt>
            <CityNm>ROSS</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94903</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>CULTURAL</GrantOrContributionPurposeTxt>
          <Amt>11500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ROSS POLICE OFFICERS ASSOCIATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 698</AddressLine1Txt>
            <CityNm>ROSS</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94957</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SAFETY</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>OPEN CIRCLE CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 11201</AddressLine1Txt>
            <CityNm>BERKELEY</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94712</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>RELIGIOUS</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CORTE MADERA COMMUNITY CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>498 TAMALPAIS DR</AddressLine1Txt>
            <CityNm>CORTE MADERA</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94925</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>CULTURAL</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SPIRIT ROCK MEDITATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5000 SIR FRANCIS DRAKE BL</AddressLine1Txt>
            <CityNm>WOODACRE</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94973</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>RELIGIOUS</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GANGAGI FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>364 HELMAN ST</AddressLine1Txt>
            <CityNm>ASHLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97520</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>RELIGIOUS</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>45500</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <RelatedOrExemptFunctionIncmAmt>8397</RelatedOrExemptFunctionIncmAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <RelatedOrExemptFunctionIncmAmt>64448</RelatedOrExemptFunctionIncmAmt>
        </DividendsAndInterestFromSecDtl>
        <OtherInvestmentIncomeGrp>
          <RelatedOrExemptFunctionIncmAmt>8</RelatedOrExemptFunctionIncmAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>39860</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <RelatedOrExemptFunctionIncmAmt>112713</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>112713</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="RetDoc3">
      <AccountingFeesDetail>
        <CategoryTxt>INDIRECT ACCOUNTING FEES</CategoryTxt>
        <Amt>2750</Amt>
        <NetInvestmentIncomeAmt>2750</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>2750</AdjustedNetIncomeAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="RetDoc4">
      <DepreciationPropertyGrp>
        <PropertyDesc>FAX MACHINE</PropertyDesc>
        <AcquiredDt>2005-11-30</AcquiredDt>
        <CostOrOtherBasisAmt>578</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>578</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>QUICKBOOKS SOFTWARE</PropertyDesc>
        <AcquiredDt>2012-06-22</AcquiredDt>
        <CostOrOtherBasisAmt>322</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>322</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>3.0000</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>COMPUTER</PropertyDesc>
        <AcquiredDt>2015-07-26</AcquiredDt>
        <CostOrOtherBasisAmt>2470</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>2470</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>COMPUTER</PropertyDesc>
        <AcquiredDt>2020-08-04</AcquiredDt>
        <CostOrOtherBasisAmt>1956</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1337</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
        <CurrentYearExpenseAmt>391</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>391</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>391</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <GainLossSaleOtherAssetsSch documentId="RetDoc5">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>KABOUTER FUND II</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>41622</GrossSalesPriceAmt>
        <TotalNetAmt>41622</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>KABOUTER INTERNATIONAL FUND II</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <BasisAmt>3474</BasisAmt>
        <TotalNetAmt>-3474</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpStockSchedule documentId="RetDoc6">
      <InvestmentsCorporateStockGrp>
        <StockNm>VANGUARD</StockNm>
        <EOYBookValueAmt>1605099</EOYBookValueAmt>
        <EOYFMVAmt>1605099</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc7">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>KABOUTER FUND II</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>917345</BookValueAmt>
        <EOYFMVAmt>917345</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>KABOUTER INT FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>140978</BookValueAmt>
        <EOYFMVAmt>140978</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="RetDoc8">
      <LandEtcGrp>
        <CostOrOtherBasisAmt>5326</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>5098</AccumulatedDepreciationAmt>
        <BookValueAmt>228</BookValueAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherDecreasesSchedule documentId="RetDoc9">
      <OtherDecreasesDetail>
        <Desc>NON DEDUCTIBLE EXPENSES- SCH K-1</Desc>
        <Amt>959</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc10">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS EXPENSE INVESTM</Desc>
        <RevenueAndExpensesPerBooksAmt>20352</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>20352</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>20352</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>24</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>24</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>24</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>44</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>44</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>44</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PERMITS</Desc>
        <RevenueAndExpensesPerBooksAmt>5</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>5</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>5</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc12">
      <OtherIncomeDetail>
        <Desc>MISC INCOME-KABOUTER INT</Desc>
        <RevenueAndExpensesPerBooksAmt>8</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>8</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>8</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="RetDoc11">
      <OtherIncreasesDetail>
        <Desc>UNRECOGNIZED GAINS ON INVESTMENTS</Desc>
        <Amt>3767</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <TaxesSchedule documentId="RetDoc13">
      <TaxesDetail>
        <CategoryTxt>OREGON CT-12</CategoryTxt>
        <Amt>302</Amt>
        <NetInvestmentIncomeAmt>302</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>302</AdjustedNetIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>INTERNAL REVENUE SERVICE</CategoryTxt>
        <Amt>904</Amt>
        <NetInvestmentIncomeAmt>904</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>904</AdjustedNetIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES - K-1 KABOUTER</CategoryTxt>
        <Amt>1989</Amt>
        <NetInvestmentIncomeAmt>1989</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1989</AdjustedNetIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES-K-1-KABOUTER INT</CategoryTxt>
        <Amt>224</Amt>
        <NetInvestmentIncomeAmt>224</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>224</AdjustedNetIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES-VANGUARD</CategoryTxt>
        <Amt>1456</Amt>
        <NetInvestmentIncomeAmt>1456</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1456</AdjustedNetIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>LICENSES</CategoryTxt>
        <Amt>150</Amt>
        <NetInvestmentIncomeAmt>150</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>150</AdjustedNetIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>