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          <USAddress>
            <AddressLine1Txt>11 WOODALE COURT</AddressLine1Txt>
            <CityNm>GOSHEN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06756</ZIPCd>
          </USAddress>
          <TitleTxt>FOUNDATION MGR.</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SANDRA L STARK</PersonNm>
          <USAddress>
            <AddressLine1Txt>11 WOODALE COURT</AddressLine1Txt>
            <CityNm>GOSHEN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06756</ZIPCd>
          </USAddress>
          <TitleTxt>FOUNDATION MGR.</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>4256907</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>970480</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>5227387</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>5227387</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>78411</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>5148976</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>257449</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>257449</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>7523</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>7523</TotalTaxAmt>
        <DistributableBeforeAdjAmt>249926</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>249926</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>249926</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>270000</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>270000</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>249926</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr2Amt>6997</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>2</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>6999</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>270000</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>249926</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>20074</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>27073</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>27073</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear2Amt>6997</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>2</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>20074</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>JAMES L MERSFELDER</ContributingManagerNm>
        <ContributingManagerNm>SANDRA L STARK</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>DOCTORS WITHOUT BORDERSMEDECINS SANS FRONTIERES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>40 RECTOR STREET 16TH FLOOR</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10006</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501C(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE FUNDING TOWARDS THE ACHIEVEMENT OF THE ORGANIZATION'S MISSION.</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FEEDING AMERICA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>161 NORTH CLARK STREET SUITE 700</AddressLine1Txt>
            <CityNm>CHICAGO</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60601</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501C(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE FUNDING TOWARDS THE ACHIEVEMENT OF THE ORGANIZATION'S MISSION.</GrantOrContributionPurposeTxt>
          <Amt>120000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>HEIFER INTERNATIONAL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1 WORLD AVENUE</AddressLine1Txt>
            <CityNm>LITTLE ROCK</CityNm>
            <StateAbbreviationCd>AR</StateAbbreviationCd>
            <ZIPCd>72202</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501C(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE FUNDING TOWARDS THE EFFORT TO END WORLD HUNGER.</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NORTHWEST CT COMMUNITY FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>33 EAST MAIN STREET PO BOX 1144</AddressLine1Txt>
            <CityNm>TORRINGTON</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06790</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501C(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE FUNDING TOWARDS THE ACHIEVEMENT OF THE ORGANIZATION'S MISSION.</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>REMOTE AREA MEDICAL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2200 STOCK CREEK BLVD</AddressLine1Txt>
            <CityNm>ROCKFORD</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>37853</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501C(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE FUNDING TOWARDS THE ACHIEVEMENT OF THE ORGANIZATION'S MISSION.</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SERVICES FOR THE UNDERSERVED</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>305 SEVENTH AVE 10TH FLOOR</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10001</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501C(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE FUNDING TOWARDS THE ACHIEVEMENT OF THE ORGANIZATION'S MISSION.</GrantOrContributionPurposeTxt>
          <Amt>55000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TIDES CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1012 TORNEY AVENUE</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94129</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501C(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROVIDE FUNDING TOWARDS THE ACHIEVEMENT OF THE ORGANIZATION'S MISSION.</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>270000</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>9539</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>92135</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>169</ExclusionAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <UnrelatedBusinessTaxblIncmAmt>2543</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>465096</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>ORDINARY INCOME FROM KSTONE HIGH INCOME MUNI FUND</Desc>
          <UnrelatedBusinessTaxblIncmAmt>50</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionCd>14</ExclusionCd>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>2593</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>566939</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>569532</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <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>
    <ExplnOfNonFilingWithAGStmt documentId="RetDoc2210600001">
      <ExplanationTxt>THE WATERVIEW FOUNDATION, INC. HAS AN OFFICE IN NJ AND HAS NOT HAD ANY FUNDING FROM PUBLIC DONATIONS. THE FOUNDATION IS NOT REQUIRED TO REPORT TO NJ.</ExplanationTxt>
    </ExplnOfNonFilingWithAGStmt>
    <GainLossSaleOtherAssetsSch documentId="RetDoc2213400001">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>KSTONE HIGH INCOME MUNI FUND</AssetDesc>
        <HowAcquiredTxt>PURCHASED</HowAcquiredTxt>
        <SoldDt>2024-12</SoldDt>
        <GrossSalesPriceAmt>2543</GrossSalesPriceAmt>
        <BasisMethodTxt>COST</BasisMethodTxt>
        <SalesExpenseAmt>0</SalesExpenseAmt>
        <TotalNetAmt>2543</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GT OFFSHORE FUND, LTD CL B</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>542501</BookValueAmt>
        <EOYFMVAmt>1242573</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GT OFFSHORE FUND, LTD CL A</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>355997</BookValueAmt>
        <EOYFMVAmt>1943259</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SELECTINVEST SPV</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>100</BookValueAmt>
        <EOYFMVAmt>100</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SHIKIAR</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>478473</BookValueAmt>
        <EOYFMVAmt>529725</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>EXCISE TAX</Desc>
        <Amt>1872</Amt>
      </OtherDecreasesDetail>
      <OtherDecreasesDetail>
        <Desc>NON-DEDUCTIBLE EXPENSES</Desc>
        <Amt>12347</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>OTHER EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>25717</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>25717</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>KSTONE HIGH INCOME MUNI FUND LP</Desc>
        <RevenueAndExpensesPerBooksAmt>169</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>169</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>169</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>ORDINARY INCOME FROM KSTONE HIGH INCOME MUNI FUND</Desc>
        <RevenueAndExpensesPerBooksAmt>50</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>50</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="RetDoc2049700001">
      <OtherIncreasesDetail>
        <Desc>TAX EXEMPT INCOME</Desc>
        <Amt>785</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
  </ReturnData>
</Return>