﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2024v5.2">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-11-03T13:12:19-06:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>412741822</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>LARRY WILLIAMS CPA</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>205 POWELL PL</AddressLine1Txt>
        <CityNm>BRENTWOOD</CityNm>
        <StateAbbreviationCd>TN</StateAbbreviationCd>
        <ZIPCd>37027</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>621842982</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE SHEPERDS FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>SHEP</BusinessNameControlTxt>
      <PhoneNum>6153710030</PhoneNum>
      <USAddress>
        <AddressLine1Txt>2435 HIDDEN RIVER LANE</AddressLine1Txt>
        <CityNm>FRANKLIN</CityNm>
        <StateAbbreviationCd>TN</StateAbbreviationCd>
        <ZIPCd>370696933</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MICHAEL J NACARATO JR</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>6153710030</PhoneNum>
      <SignatureDt>2025-11-03</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>0</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>LARRY WILLIAMS</PreparerPersonNm>
      <PTIN>P01220827</PTIN>
      <PhoneNum>6153128247</PhoneNum>
      <SelfEmployedInd>X</SelfEmployedInd>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="10">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>27517523</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>720000</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>71465</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>71465</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>414039</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>411597</DividendsNetInvstIncmAmt>
        <GrossRentsRevAndExpnssAmt>137388</GrossRentsRevAndExpnssAmt>
        <GrossRentsNetInvstIncmAmt>137388</GrossRentsNetInvstIncmAmt>
        <NetRentalIncomeOrLossAmt>48908</NetRentalIncomeOrLossAmt>
        <NetGainSaleAstRevAndExpnssAmt>1846409</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>14066288</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>1846409</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>3189301</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>2466859</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">2000</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>2000</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>0</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">37747</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>37747</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>0</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">15506</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>15506</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <DeprecAndDpltnRevAndExpnssAmt referenceDocumentId="RetDoc2203000001">46942</DeprecAndDpltnRevAndExpnssAmt>
        <DeprecAndDpltnNetInvstIncmAmt>46942</DeprecAndDpltnNetInvstIncmAmt>
        <OccupancyRevAndExpnssAmt>8329</OccupancyRevAndExpnssAmt>
        <OccupancyNetInvstIncmAmt>8329</OccupancyNetInvstIncmAmt>
        <OccupancyDsbrsChrtblAmt>0</OccupancyDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">202151</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>202151</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>0</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>312675</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>312675</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>3865347</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>3865347</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>4178022</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>312675</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>3865347</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-988721</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>2154184</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>8247090</CashBOYAmt>
        <CashEOYAmt>88191</CashEOYAmt>
        <CashEOYFMVAmt>88191</CashEOYFMVAmt>
        <CorporateStockBOYAmt>13710977</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">9200567</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>11448003</CorporateStockEOYFMVAmt>
        <InvstLandCostOrOtherBasisAmt>1160476</InvstLandCostOrOtherBasisAmt>
        <InvstLandAccumDepreciationAmt>390073</InvstLandAccumDepreciationAmt>
        <LandBldgInvestmentsBOYAmt>757018</LandBldgInvestmentsBOYAmt>
        <LandBldgInvestmentsEOYAmt referenceDocumentId="RetDoc2059100001">770403</LandBldgInvestmentsEOYAmt>
        <LandBldgInvestmentsEOYFMVAmt>1200000</LandBldgInvestmentsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>4385239</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">13233691</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>14781329</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>27100324</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>23292852</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>27517523</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>0</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>0</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>27100324</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>23292852</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>27100324</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>23292852</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>27100324</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>23292852</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>27100324</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-988721</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>26111603</SubtotalAmt>
        <OtherDecreasesAmt>2818751</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>23292852</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>REGIONS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2024-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>2090785</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1992910</CostOrOtherBasisAmt>
          <GainOrLossAmt>97875</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>97875</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>REGIONS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>758892</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>685871</CostOrOtherBasisAmt>
          <GainOrLossAmt>73021</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>73021</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RJ #28370191</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2024-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>1221116</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1216550</CostOrOtherBasisAmt>
          <GainOrLossAmt>4566</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>4566</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RJ #28370191</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>1789048</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1672818</CostOrOtherBasisAmt>
          <GainOrLossAmt>116230</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>116230</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RJ#715FM148</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>130000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>104052</CostOrOtherBasisAmt>
          <GainOrLossAmt>25948</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>25948</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RJ #362N7589</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2024-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>775601</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>500007</CostOrOtherBasisAmt>
          <GainOrLossAmt>275594</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>275594</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RJ #362N7589</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>2301488</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1711497</CostOrOtherBasisAmt>
          <GainOrLossAmt>589991</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>589991</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RJ #5879C444</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2024-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>3871636</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>3449953</CostOrOtherBasisAmt>
          <GainOrLossAmt>421683</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>421683</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RJ #5879C444</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>767025</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>712353</CostOrOtherBasisAmt>
          <GainOrLossAmt>54672</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>54672</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>UBS # 36056</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2024-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>23231</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>22095</CostOrOtherBasisAmt>
          <GainOrLossAmt>1136</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1136</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>UBS # 36056</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-01-01</AcquiredDt>
          <SoldDt>2024-12-31</SoldDt>
          <GrossSalesPriceAmt>192998</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>151773</CostOrOtherBasisAmt>
          <GainOrLossAmt>41225</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>41225</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RJ ACCT #28370191</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>UBS ACCT #36056</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RJ # 362N7589</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>REGIONS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>144468</GrossSalesPriceAmt>
          <GainOrLossAmt>144468</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>144468</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>1846409</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>800854</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>29943</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>29943</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>29943</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>0</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>0</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1192000001">X</Form2220AttachedInd>
        <EsPenaltyAmt>514</EsPenaltyAmt>
        <TaxDueAmt>30457</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>TN</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>TERESA A NACARATO</IndividualWithBooksNm>
        <PhoneNum>6153710030</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>2435 HIDDEN RIVER LANE</AddressLine1Txt>
          <CityNm>FRANKLIN</CityNm>
          <StateAbbreviationCd>TN</StateAbbreviationCd>
          <ZIPCd>370696933</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MICHAEL J NACARATO JR</PersonNm>
          <USAddress>
            <AddressLine1Txt>2435 HIDDEN RIVER LANE</AddressLine1Txt>
            <CityNm>FRANKLIN</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>370696933</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>TERESA A NACARATO</PersonNm>
          <USAddress>
            <AddressLine1Txt>2435 HIDDEN RIVER LANE</AddressLine1Txt>
            <CityNm>FRANKLIN</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>370696933</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MICHAEL J NACARATO IV</PersonNm>
          <USAddress>
            <AddressLine1Txt>2435 HIDDEN RIVER LANE</AddressLine1Txt>
            <CityNm>FRANKLIN</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>370696933</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.25</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>DIRECT SUPPORT TO NEEDING FAMILIES</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
        <Description2Txt>PROVIDE DONATIONS TO VARIOUS NASHVILLE AREA CHARITIES</Description2Txt>
        <Expenses2Amt>0</Expenses2Amt>
        <Description3Txt>DEVELOPMENT OF AN ART MUSEUM</Description3Txt>
        <Expenses3Amt>0</Expenses3Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>21006002</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>4149546</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>1200000</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>26355548</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>26355548</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>395333</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>25960215</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>1298011</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>1298011</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>29943</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>29943</TotalTaxAmt>
        <DistributableBeforeAdjAmt>1268068</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>1268068</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>1268068</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>3865347</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>3865347</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>1268068</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>756487</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>3865347</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>756487</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>1268068</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>1840792</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>1840792</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>1840792</ExcessDistriCyovToNextYrAmt>
        <ExcessFromCurrentYearAmt>1840792</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>MICHAEL J NACARATO JR</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>DIOCESE OF NASHVILLE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2800 MCGAVOCK PIKE</AddressLine1Txt>
            <CityNm>NASHVILLE</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>37214</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) 3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>LEGACY CAMPAIGN</GrantOrContributionPurposeTxt>
          <Amt>710000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FOURTEENTH AVENUE BAPTIST</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2501 BUCHANAN ST</AddressLine1Txt>
            <CityNm>NASHVILLE</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>37208</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) 3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATING FUND</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FADICA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 33667</AddressLine1Txt>
            <CityNm>WASHINGTON</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20033</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) 3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATING FUND</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>HUNTER GARSTIN</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2410 PATTERSON ST</AddressLine1Txt>
            <CityNm>NASHVILLE</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>37203</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NEEDY INDIVI</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>MEDICAL COSTS</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE MIKE AND TERESA FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2435 HIDDEN RIVER LANE</AddressLine1Txt>
            <CityNm>FRANKLIN</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>37069</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>SAME OFFICERS</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) 3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>3105347</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>3865347</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>44247</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>27291</RelatedOrExemptFunctionIncmAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>414039</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReNotDebtFincdProp>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>3482</ExclusionAmt>
        </NetRntlIncmReNotDebtFincdProp>
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>01</ExclusionCd>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>144395</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>1701941</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>ENTERPRISE PRODUCTS</Desc>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>606163</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>1729232</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>2335395</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>8</LineNumberTxt>
          <RelationshipStatementTxt>DEVELOPMENT OF AN ART GALLERY</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>MICHAEL J NACARATO JR</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>2435 HIDDEN RIVER LANE</AddressLine1Txt>
          <CityNm>FRANKLIN</CityNm>
          <StateAbbreviationCd>TN</StateAbbreviationCd>
          <ZIPCd>370696933</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>720000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>LARRY WILLIAMS, CPA</CategoryTxt>
        <Amt>2000</Amt>
        <NetInvestmentIncomeAmt>2000</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="RetDoc2203000001">
      <DepreciationPropertyGrp>
        <PropertyDesc>4742 WEST WINDS</PropertyDesc>
        <AcquiredDt>2016-12-30</AcquiredDt>
        <CostOrOtherBasisAmt>930315</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>238219</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>27.500000000000</LifeRt>
        <CurrentYearExpenseAmt>33830</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>33830</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE &amp; FIXTURES</PropertyDesc>
        <AcquiredDt>2017-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>19380</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>19380</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.000000000000</LifeRt>
        <CurrentYearExpenseAmt>0</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>2018 FURNITURE ADDITIONS</PropertyDesc>
        <AcquiredDt>2018-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>10506</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>10506</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.000000000000</LifeRt>
        <CurrentYearExpenseAmt>0</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>GOLF CART</PropertyDesc>
        <AcquiredDt>2019-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>14224</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>14224</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.000000000000</LifeRt>
        <CurrentYearExpenseAmt>0</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>2019 ADDITIONS</PropertyDesc>
        <AcquiredDt>2019-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>17379</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>17379</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.000000000000</LifeRt>
        <CurrentYearExpenseAmt>0</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>2022 ADDITIONS</PropertyDesc>
        <AcquiredDt>2022-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>20206</CostOrOtherBasisAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.000000000000</LifeRt>
        <CurrentYearExpenseAmt>0</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>4041</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>NEW FLOORING</PropertyDesc>
        <AcquiredDt>2023-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>53148</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>966</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>27.500000000000</LifeRt>
        <CurrentYearExpenseAmt>1933</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>1933</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>BATHROOM CABINETS</PropertyDesc>
        <AcquiredDt>2023-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>19700</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>788</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.000000000000</LifeRt>
        <CurrentYearExpenseAmt>1261</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>3940</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>KITCHEN &amp; BATH PLUMBING</PropertyDesc>
        <AcquiredDt>2023-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>8688</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>158</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>27.500000000000</LifeRt>
        <CurrentYearExpenseAmt>316</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>316</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>CEILING FAN</PropertyDesc>
        <AcquiredDt>2023-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>802</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>32</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.000000000000</LifeRt>
        <CurrentYearExpenseAmt>51</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>160</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>APLLIANCES</PropertyDesc>
        <AcquiredDt>2023-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>5801</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>232</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.000000000000</LifeRt>
        <CurrentYearExpenseAmt>371</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>1160</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE &amp; FIXTURES</PropertyDesc>
        <AcquiredDt>2024-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>12322</CostOrOtherBasisAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>5.000000000000</LifeRt>
        <CurrentYearExpenseAmt>8379</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>1232</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>REMODELING COSTS</PropertyDesc>
        <AcquiredDt>2024-07-01</AcquiredDt>
        <CostOrOtherBasisAmt>48005</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>27.500000000000</LifeRt>
        <CurrentYearExpenseAmt>800</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>800</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>RJ ACCT #28370191</StockNm>
        <EOYBookValueAmt>4834329</EOYBookValueAmt>
        <EOYFMVAmt>6895785</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>RJ ACCT #5879C444</StockNm>
        <EOYBookValueAmt>3183642</EOYBookValueAmt>
        <EOYFMVAmt>3262220</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>RJ ACCT #715FM148</StockNm>
        <EOYBookValueAmt>1182596</EOYBookValueAmt>
        <EOYFMVAmt>1289998</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsLandSchedule2 documentId="RetDoc2059100001">
      <InvestmentLandGrp>
        <CategoryOrItemTxt>4742 WEST WINDS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>930315</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>272049</AccumulatedDepreciationAmt>
        <BookValueAmt>658266</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>FURNITURE &amp; FIXTURES</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>19380</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>19380</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>2018 FURNITURE ADDITIONS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>10506</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>10506</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>GOLF CART</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>14224</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>14224</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>2019 ADDITIONS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>17379</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>17379</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>2022 ADDITIONS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>20206</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>20206</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>NEW FLOORING</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>53148</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>2899</AccumulatedDepreciationAmt>
        <BookValueAmt>50249</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>BATHROOM CABINETS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>19700</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>17809</AccumulatedDepreciationAmt>
        <BookValueAmt>1891</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>KITCHEN &amp; BATH PLUMBING</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>8688</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>474</AccumulatedDepreciationAmt>
        <BookValueAmt>8214</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>CEILING FAN</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>802</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>725</AccumulatedDepreciationAmt>
        <BookValueAmt>77</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>APLLIANCES</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>5801</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>5244</AccumulatedDepreciationAmt>
        <BookValueAmt>557</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>FURNITURE &amp; FIXTURES</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>12322</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>8379</AccumulatedDepreciationAmt>
        <BookValueAmt>3943</BookValueAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>REMODELING COSTS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>48005</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>800</AccumulatedDepreciationAmt>
        <BookValueAmt>47205</BookValueAmt>
      </InvestmentLandGrp>
    </InvestmentsLandSchedule2>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>UBS VX 36056 EQUITIES</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>779359</BookValueAmt>
        <EOYFMVAmt>876849</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>UBS F4 28786</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>1044796</BookValueAmt>
        <EOYFMVAmt>1360615</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>REGIONS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>11409536</BookValueAmt>
        <EOYFMVAmt>12543865</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>RJ ACCT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>59245</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>59245</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ANNUAL REPORT</Desc>
        <RevenueAndExpensesPerBooksAmt>21</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>21</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>UBS FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>8183</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>8183</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>341</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>341</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>343</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>343</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>REGIONS FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>92480</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>92480</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>4742 WESTWINDS-HOA FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>24790</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>24790</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>4742 WESTWINDS-ANNUAL REPORT</Desc>
        <RevenueAndExpensesPerBooksAmt>139</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>139</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>4742 WESTWINDS-REGISTERED AGENT FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>150</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>150</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>4742 WESTWINDS-MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>558</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>558</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>4742 WESTWINDS-INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>7370</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>7370</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>4742 WESTWINDS-HOUSEKEEPING</Desc>
        <RevenueAndExpensesPerBooksAmt>875</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>875</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>4742 WESTWINDS-MAINTENANCE &amp; SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>1649</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1649</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>4742 WESTWINDS-UTILTIES</Desc>
        <RevenueAndExpensesPerBooksAmt>2591</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>2591</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>4742 WESTWINDS-REPAIRS</Desc>
        <RevenueAndExpensesPerBooksAmt>3416</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>3416</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SHEPERDS COLUMBINE PLACE-FROM K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>0</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SHEPERDS COLUMBINE PLACE-ANNUAL REPORT</Desc>
        <RevenueAndExpensesPerBooksAmt>0</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BAKER LANE - BANK CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>0</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BAKER LANE - INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>0</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>HOLLAND KNIGHT</CategoryTxt>
        <Amt>650</Amt>
        <NetInvestmentIncomeAmt>650</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>4742 WESTWINDS</CategoryTxt>
        <Amt>37097</Amt>
        <NetInvestmentIncomeAmt>37097</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>9478</Amt>
        <NetInvestmentIncomeAmt>9478</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAX WITHHELD</CategoryTxt>
        <Amt>6028</Amt>
        <NetInvestmentIncomeAmt>6028</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>