﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xsi:schemaLocation="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.2">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-11-13T12:13:18-05:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>BDO USA</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>601 Union Street Suite 2300</AddressLine1Txt>
        <CityNm>Seattle</CityNm>
        <StateAbbreviationCd>WA</StateAbbreviationCd>
        <ZIPCd>98101</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>824331996</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>Fred R Smith Foundation</BusinessNameLine1Txt>
      </BusinessName>
      <InCareOfNm>% TAMARA SNYDER</InCareOfNm>
      <BusinessNameControlTxt>FRED</BusinessNameControlTxt>
      <PhoneNum>2066542016</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1916 Pike Place Suite 12 Suite 18</AddressLine1Txt>
        <CityNm>Seattle</CityNm>
        <StateAbbreviationCd>WA</StateAbbreviationCd>
        <ZIPCd>98101</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Ouida Hemingway</PersonNm>
      <PersonTitleTxt>President</PersonTitleTxt>
      <PhoneNum>2066542016</PhoneNum>
      <SignatureDt>2025-10-30</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>Natalie Heitzeberg</PreparerPersonNm>
      <PTIN>P01706536</PTIN>
      <PhoneNum>2063827777</PhoneNum>
      <PreparationDt>2025-10-30</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="7">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>17629104</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>0</ContriRcvdRevAndExpnssAmt>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>288916</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>288916</DividendsNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>288916</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>288916</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>30000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>3000</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>27000</CompOfcrDirTrstDsbrsChrtblAmt>
        <PensionEmplBnftRevAndExpnssAmt>29051</PensionEmplBnftRevAndExpnssAmt>
        <PensionEmplBnftNetInvstIncmAmt>2905</PensionEmplBnftNetInvstIncmAmt>
        <PensionEmplBnftDsbrsChrtblAmt>26146</PensionEmplBnftDsbrsChrtblAmt>
        <AccountingFeesNetInvstIncmAmt>0</AccountingFeesNetInvstIncmAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OthProfFeesSch">10210</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>1021</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>9189</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">8348</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>411</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>3704</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSch">318</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>32</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>286</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>77927</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>7369</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>66325</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>70000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>70000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>147927</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>7369</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>136325</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>140989</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>281547</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>12463</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>15778</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>15778</SavAndTempCashInvstEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="OtherAssetsSch">17475657</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="OtherAssetsSch">17613326</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="OtherAssetsSch">17613326</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>17488120</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>17629104</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>17629104</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="OtherLiabSch">17</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="OtherLiabSch">12</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>17</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>12</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>17488103</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>17629092</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>17488103</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>17629092</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>17488120</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>17629104</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>17488103</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>140989</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>17629092</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>17629092</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail />
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>3914</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>3914</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>3914</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>4000</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>2000</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>6000</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="IRS2220">X</Form2220AttachedInd>
        <EsPenaltyAmt>101</EsPenaltyAmt>
        <OverpaymentAmt>1985</OverpaymentAmt>
        <AppliedToESTaxAmt>1985</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>WA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>TAMARA SNYDER</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>2066543678</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>1916 PIKE PLACE SUITE 12 18</AddressLine1Txt>
          <CityNm>Seattle</CityNm>
          <StateAbbreviationCd>WA</StateAbbreviationCd>
          <ZIPCd>98101</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>true</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Holly D Smith</PersonNm>
          <USAddress>
            <AddressLine1Txt>1916 Pike Place Suite 12 18</AddressLine1Txt>
            <CityNm>Seattle</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98101</ZIPCd>
          </USAddress>
          <TitleTxt>Vice President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Ouida M Hemingway</PersonNm>
          <USAddress>
            <AddressLine1Txt>1916 Pike Place Suite 12 18</AddressLine1Txt>
            <CityNm>Seattle</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98101</ZIPCd>
          </USAddress>
          <TitleTxt>President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>24000</CompensationAmt>
          <EmployeeBenefitProgramAmt>29051</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Tami Snyder</PersonNm>
          <USAddress>
            <AddressLine1Txt>1916 Pike Place Suite 12 18</AddressLine1Txt>
            <CityNm>Seattle</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98101</ZIPCd>
          </USAddress>
          <TitleTxt>Secretary/Treasurer</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>6000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp />
      <SumOfProgramRelatedInvstGrp />
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>0</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>66488</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>17612553</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>17679041</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>17679041</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>265186</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>17413855</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>870693</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>870693</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>3914</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>3914</TotalTaxAmt>
        <DistributableBeforeAdjAmt>866779</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>866779</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>866779</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>136325</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>136325</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>866779</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2022</PriorYear1Yr>
        <PriorYear2Yr>2021</PriorYear2Yr>
        <PriorYear3Yr>2020</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr4Amt>1296049</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr2Amt>310031</ExcessDistributionCyovYr2Amt>
        <TotalExcessDistributionCyovAmt>1606080</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>136325</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>136325</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>730454</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>730454</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>875626</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>875626</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>565595</ExcessFromYear4Amt>
        <ExcessFromYear2Amt>310031</ExcessFromYear2Amt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp></PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>HOLLY D SMITH</ContributingManagerNm>
        <ContributingManagerNm>OUIDA M HEMINGWAY</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Evergreen mountain bike alliance</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>438 ne 72nd st</AddressLine1Txt>
            <CityNm>seattle</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98115</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>none</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>charitable contribution</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>KUOW</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>4518 University Way NE 310</AddressLine1Txt>
            <CityNm>Seattle</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98105</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>Charitable Contribution</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MOUNTAIN TO SOUND GREENWAY TRUST</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2701 1ST AVE STE 240</AddressLine1Txt>
            <CityNm>SEATTLE</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98121</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>WASHINGTON TRAILS ASSOCIATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>702 2ND AVE STE 300</AddressLine1Txt>
            <CityNm>SEATTLE</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98104</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Friends of the Waterfront Seattle</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1201 Alaskan Wy 200</AddressLine1Txt>
            <CityNm>Seattle</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98101</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>Charitable Contribution</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>70000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp />
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>288916</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncomeGrp />
        <GainSalesAstOthThanInvntryGrp />
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>288916</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>288916</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>
    <DepreciationSchedule documentId="DepreciationSch" />
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssetsScheduleGrp>
        <Desc>INVESTMENT IN OHFT NOTE HOLDIN</Desc>
        <BOYBookValueAmt>16929000</BOYBookValueAmt>
        <EOYBookValueAmt>16929000</EOYBookValueAmt>
        <EOYFMVAmt>16929000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>OHFT NOTE HOLDINGS - K-1 ACT</Desc>
        <BOYBookValueAmt>546657</BOYBookValueAmt>
        <EOYBookValueAmt>684326</EOYBookValueAmt>
        <EOYFMVAmt>684326</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>BUSINESS LICENSE &amp; REGISTRATIO</Desc>
        <RevenueAndExpensesPerBooksAmt>25</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>3</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>22</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>293</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>29</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>264</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherLiabilitiesSchedule documentId="OtherLiabSch">
      <OtherLiabilitiesDetail>
        <Desc>PAYROLL LIABILITIES</Desc>
        <BOYBookValueAmt>17</BOYBookValueAmt>
        <EOYBookValueAmt>12</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>PROFESSIONAL FEES</CategoryTxt>
        <Amt>10210</Amt>
        <NetInvestmentIncomeAmt>1021</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>9189</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>PAYROLL TAXES AND OTHER PAYROL</CategoryTxt>
        <Amt>4115</Amt>
        <NetInvestmentIncomeAmt>411</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3704</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL INCOME TAXES</CategoryTxt>
        <Amt>4233</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>