﻿<?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>2025-11-14T10:58:25-06:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>BDO USA</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>2600 WEST BIG BEAVER SUITE 600</AddressLine1Txt>
        <CityNm>TROY</CityNm>
        <StateAbbreviationCd>MI</StateAbbreviationCd>
        <ZIPCd>48084</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>921465261</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>KOERNER FAMILY FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <InCareOfNm>% BERND KOERNER</InCareOfNm>
      <BusinessNameControlTxt>KOER</BusinessNameControlTxt>
      <PhoneNum>2482581094</PhoneNum>
      <USAddress>
        <AddressLine1Txt>698 SOLANA CT</AddressLine1Txt>
        <CityNm>MARCO ISLAND</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>34145</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Bernd Koerner</PersonNm>
      <PersonTitleTxt>President</PersonTitleTxt>
      <PhoneNum>2482581094</PhoneNum>
      <SignatureDt>2025-06-10</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>Bryan W Bussert</PreparerPersonNm>
      <PTIN>P01281418</PTIN>
      <PhoneNum>2483622100</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="10">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>10900003</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>0</ContriRcvdRevAndExpnssAmt>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>4</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>4</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>324176</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>324176</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>37625</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>2979386</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>37625</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSch2">2839</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>0</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>364644</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>361805</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="LegalFeesSch">3358</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>1679</LegalFeesNetInvstIncmAmt>
        <LegalFeesAdjNetIncmAmt>0</LegalFeesAdjNetIncmAmt>
        <LegalFeesDsbrsChrtblAmt>1679</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSch">7429</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>3715</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>0</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>3714</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OthProfFeesSch">46180</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>46180</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesAdjNetIncmAmt>0</OtherProfFeesAdjNetIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>0</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">8588</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>1088</TaxesNetInvstIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSch">323</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>323</OtherExpensesNetInvstIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>65878</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>52985</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>0</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>5393</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>502000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>502000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>567878</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>52985</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>0</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>507393</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-203234</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>308820</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>1792554</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>2861250</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>2861250</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>1348933</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="InvGovtObligSch">814240</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>824564</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>6172446</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestCorpStockSch">5435209</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>7214189</CorporateStockEOYFMVAmt>
        <TotalAssetsBOYAmt>9313933</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>9110699</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>10900003</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>9313933</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>9110699</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>9313933</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>9110699</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>9313933</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>9110699</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>9313933</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-203234</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>9110699</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>9110699</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CHARLES SCHWAB 7445</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>2969725</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2941761</CostOrOtherBasisAmt>
          <GainOrLossAmt>27964</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>27964</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>9661</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>37625</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>4293</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>4293</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>4293</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>5138</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>3650</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>8788</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>4495</OverpaymentAmt>
        <AppliedToESTaxAmt>4495</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>MI</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>BERND KOERNER</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>2482581094</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>698 SOLANA CT</AddressLine1Txt>
          <CityNm>MARCO ISLAND</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>34145</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>
        <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>BERND KOERNER</PersonNm>
          <USAddress>
            <AddressLine1Txt>698 SOLANA CT</AddressLine1Txt>
            <CityNm>MARCO ISLAND</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34145</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT/DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JENNIFER KOERNER</PersonNm>
          <USAddress>
            <AddressLine1Txt>698 SOLANA CT</AddressLine1Txt>
            <CityNm>MARCO ISLAND</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34145</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETRAY/TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp />
      <SumOfProgramRelatedInvstGrp />
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>8434497</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>2139421</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>10573918</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>10573918</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>158609</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>10415309</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>520765</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>520765</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>4293</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>4293</TotalTaxAmt>
        <DistributableBeforeAdjAmt>516472</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>516472</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>516472</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>507393</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>507393</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>516472</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2022</PriorYear1Yr>
        <PriorYear2Yr>2021</PriorYear2Yr>
        <PriorYear3Yr>2020</PriorYear3Yr>
        <ExcessDistributionCyovYr2Amt>0</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>18945</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>18945</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>507393</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>507393</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>9079</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>9079</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>9866</TotalCorpusAmt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>9866</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear1Amt>9866</ExcessFromYear1Amt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp></PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>BERND KOERNER</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FOUR COUNTY COMMUNITY FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>231 E SAINT CLAIR STREET</AddressLine1Txt>
            <CityNm>ALMONT</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48003</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>To fund the Koerner Family Foundation Scholarship Fund.</GrantOrContributionPurposeTxt>
          <Amt>502000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>502000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>4</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>324176</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2839</ExclusionAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>37625</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>364644</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>364644</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="AccountingFeesSch">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>7429</Amt>
        <NetInvestmentIncomeAmt>3715</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3714</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>CHARLES SCHWAB - MARKETABLE EQ</StockNm>
        <EOYBookValueAmt>5435209</EOYBookValueAmt>
        <EOYFMVAmt>7214189</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="InvGovtObligSch">
      <USGovtObligationsBookVlEOYAmt>814240</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>824564</USGovtObligationsEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <LegalFeesSchedule documentId="LegalFeesSch">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>3358</LegalFeesAmt>
        <NetInvestmentIncomeAmt>1679</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1679</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>ADR INVESTMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>323</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>323</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>Nondividend Distributions</Desc>
        <RevenueAndExpensesPerBooksAmt>2839</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT ADVISORY FEES</CategoryTxt>
        <Amt>46180</Amt>
        <NetInvestmentIncomeAmt>46180</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES PAID</CategoryTxt>
        <Amt>7500</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID</CategoryTxt>
        <Amt>1088</Amt>
        <NetInvestmentIncomeAmt>1088</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>