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        <DistributableBeforeDedAmt>107008</DistributableBeforeDedAmt>
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        <DistributableAsAdjustedAmt>107008</DistributableAsAdjustedAmt>
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      <PFQualifyingDistributionsGrp>
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        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>290353</QualifyingDistributionsAmt>
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      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>107008</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
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        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
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        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
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        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>TREASURER STUDENT AGENCIES INC</RecipientPersonNm>
          <RecipientUSAddress>
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            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>14850</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>6072722000</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>WRITTEN APPLICATION SUBMITTED WITH TRANSCRIPT</FormAndInfoAndMaterialsTxt>
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          <RestrictionsOnAwardsTxt>NONE</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CORNELL ENTREPRENEURSHIP CORNELL</BusinessNameLine1Txt>
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          <RecipientUSAddress>
            <AddressLine1Txt>443 WARREN HALL</AddressLine1Txt>
            <CityNm>ITHACA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>14853</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
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        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>100</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
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      <AnalysisIncomeProducingActyGrp>
        <ProgramServiceRevenueDtl>
          <Desc>PAYMENTS FROM ELAB</Desc>
          <BusinessCd>900099</BusinessCd>
          <RelatedOrExemptFunctionIncmAmt>261851</RelatedOrExemptFunctionIncmAmt>
        </ProgramServiceRevenueDtl>
        <ProgramServiceRevenueDtl>
          <Desc>OTHER INCOME</Desc>
          <BusinessCd>900099</BusinessCd>
          <RelatedOrExemptFunctionIncmAmt>62398</RelatedOrExemptFunctionIncmAmt>
        </ProgramServiceRevenueDtl>
        <ProgramServiceRevenueDtl>
          <Desc>INCOME TRANSFER FROM SAP</Desc>
          <BusinessCd>900099</BusinessCd>
          <RelatedOrExemptFunctionIncmAmt>385109</RelatedOrExemptFunctionIncmAmt>
        </ProgramServiceRevenueDtl>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>2</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>709358</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>709360</TotalIncomeProducingActyAmt>
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      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>1</LineNumberTxt>
          <RelationshipStatementTxt>ALL RENTS ARE DERIVED FROM AN EDUCATIONAL ACTIVITY THAT HAS BEEN DETERMINED TO BE RELATED TO THE CHARITABLE PURPOSE OF THIS ORG.</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
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        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>1</RelationshipsNonchrtblEOInd>
        <RelationshipScheduleDetail>
          <OrganizationBusinessName>
            <BusinessNameLine1Txt>STUDENT AGENCIES PROPERTIES INC</BusinessNameLine1Txt>
          </OrganizationBusinessName>
          <OrganizationTypeDesc>501(C) (2)</OrganizationTypeDesc>
          <RelationshipDescriptionTxt>SUBSIDIARY</RelationshipDescriptionTxt>
        </RelationshipScheduleDetail>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
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      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>ENTREPRENEURSHIPCORNELL</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>443 WARREN HALL CORNELL UNIVERSITY</AddressLine1Txt>
          <CityNm>ITHACA</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>14853</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>15000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>5525</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5525</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <GeneralExplanationAttachment documentId="RetDoc1175200001">
      <GeneralExplanationGrp>
        <FormAndLineReferenceDesc>FORM 990-PF, PAGE 5, PART VII-A, LINE 11</FormAndLineReferenceDesc>
        <MediumExplanationTxt>NAME OF CONTROLLED ENTITY - STUDENT AGENCIES INCEMPLOYER ID NO - 15-0461435ADDRESS409 COLLEGE AVENUEITHACA, NY 14850NOT AN EXCESS HOLDING</MediumExplanationTxt>
      </GeneralExplanationGrp>
    </GeneralExplanationAttachment>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>STOCKHOLDER IN STUDENT AGENCY PROPERTY INC</StockNm>
        <EOYBookValueAmt>1000</EOYBookValueAmt>
        <EOYFMVAmt>1000</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>STOCKHOLDER IN STUDENT AGENCY INC</StockNm>
        <EOYBookValueAmt>5500</EOYBookValueAmt>
        <EOYFMVAmt>5500</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssetsScheduleGrp>
        <Desc>DUE FROM STUDENT AGENCIES PROPERTIES , INC</Desc>
        <BOYBookValueAmt>1598443</BOYBookValueAmt>
        <EOYBookValueAmt>1984582</EOYBookValueAmt>
        <EOYFMVAmt>1984582</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>DUE FROM SAI</Desc>
        <BOYBookValueAmt>9610</BOYBookValueAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>INVESTMENT IN ELAB</Desc>
        <BOYBookValueAmt>27000</BOYBookValueAmt>
        <EOYBookValueAmt>27000</EOYBookValueAmt>
        <EOYFMVAmt>27000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>INVESTMENT IN SAI</Desc>
        <BOYBookValueAmt>422842</BOYBookValueAmt>
        <EOYBookValueAmt>422842</EOYBookValueAmt>
        <EOYFMVAmt>422842</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>CONTRIBUTION TO TEAMS - ELAB</Desc>
        <RevenueAndExpensesPerBooksAmt>61010</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>61010</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISC EXPENSE - ELAB</Desc>
        <RevenueAndExpensesPerBooksAmt>59</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>59</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SPONSORSHIPS - SAF</Desc>
        <RevenueAndExpensesPerBooksAmt>3500</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3500</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PROGRAM SERVICE FUNDING SAI</Desc>
        <RevenueAndExpensesPerBooksAmt>50000</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>50000</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>13488</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>13488</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISC EXPENSE - SAF</Desc>
        <RevenueAndExpensesPerBooksAmt>833</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>549</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>PAYMENTS FROM ELAB</Desc>
        <RevenueAndExpensesPerBooksAmt>261851</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>261851</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>OTHER INCOME</Desc>
        <RevenueAndExpensesPerBooksAmt>62398</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>62398</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>INCOME TRANSFER FROM SAP</Desc>
        <RevenueAndExpensesPerBooksAmt>385109</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>385109</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>OTHER FEES</CategoryTxt>
        <Amt>12972</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>12972</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TransfersFrmControlledEntities documentId="RetDoc2204900001">
      <TransfersFromControlledEntGrp>
        <BusinessName>
          <BusinessNameLine1Txt>STUDENT AGENCIES PROPERTIES</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>409 COLLEGE AVENUE</AddressLine1Txt>
          <CityNm>ITHACA</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>14850</ZIPCd>
        </USAddress>
        <EIN>150461430</EIN>
        <Desc>PROGRAM SERVICE EXPENSE</Desc>
        <Amt>0</Amt>
      </TransfersFromControlledEntGrp>
      <TotalAmt>385109</TotalAmt>
    </TransfersFrmControlledEntities>
    <TransfersToControlledEntities documentId="RetDoc2205000001">
      <TransfersToControlledEntGrp>
        <BusinessName>
          <BusinessNameLine1Txt>STUDENT AGENCIES INC</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>409 COLLEGE AVENUE</AddressLine1Txt>
          <CityNm>ITHACA</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>14850</ZIPCd>
        </USAddress>
        <EIN>150461435</EIN>
        <Desc>PROGRAM SERVICE EXPENSE</Desc>
        <Amt>50000</Amt>
      </TransfersToControlledEntGrp>
      <TotalAmt>50000</TotalAmt>
    </TransfersToControlledEntities>
  </ReturnData>
</Return>