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          <PersonNm>DEE HUDSON</PersonNm>
          <USAddress>
            <AddressLine1Txt>315 KIWANIS DR</AddressLine1Txt>
            <CityNm>MASON</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48854</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KAREN MOORE</PersonNm>
          <USAddress>
            <AddressLine1Txt>315 KIWANIS DR</AddressLine1Txt>
            <CityNm>MASON</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48854</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</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>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>FORNEY W. CLEMENT PROJECT AT MOTT CHILDRENS HOSPITAL IN ANN ARBOR, MI</Description1Txt>
        <Expenses1Amt>93571</Expenses1Amt>
        <Description2Txt>BEN DEAN PROJECT AT THE MARY FREE BED HOSPITAL IN GRAND RAPIDS, MI</Description2Txt>
        <Expenses2Amt>67200</Expenses2Amt>
        <Description3Txt>WALTER J. RAY PROJECT AT THE CHILDRENS HOSPITAL IN DETROIT, MI</Description3Txt>
        <Expenses3Amt>22000</Expenses3Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>0</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>0</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>0</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>0</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>0</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>0</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>0</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <Sect4942j3j5FndtnAndFrgnOrgInd>X</Sect4942j3j5FndtnAndFrgnOrgInd>
        <DistributableAsAdjustedAmt>0</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>12618</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>12618</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>0</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>240604</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>17436</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>20507</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>14477</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>13847</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>306871</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>12618</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <RemainingDistriFromCorpusAmt>12618</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>319489</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>240604</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>78885</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>17436</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>20507</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>14477</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>13847</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>12618</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>NONE</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CS MOTT HOSPITAL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1500 D MEDICAL CTR DR</AddressLine1Txt>
            <CityNm>ANN ARBOR</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48109</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHILD ANDFAMILY LIVESERVICES</GrantOrContributionPurposeTxt>
          <Amt>93571</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MARY FREE BED HOSPITAL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>235 WEALTHY ST</AddressLine1Txt>
            <CityNm>GRAND RAPIDS</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>49503</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHILD ANDFAMILY LIVESERVICES</GrantOrContributionPurposeTxt>
          <Amt>67200</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CHILDRENS HOSPITAL OF MI</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3901 BEAUBIEN BLVD</AddressLine1Txt>
            <CityNm>DETROIT</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48201</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHILD ANDFAMILY LIVESERVICES</GrantOrContributionPurposeTxt>
          <Amt>22000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>182771</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>51223</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>51223</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>51223</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>
    <IRS990ScheduleB documentId="IRS990ScheduleB-01">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>KIWANIS CLUB OF ANN ARBOR</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>200 SOUTH FIRST STREET</AddressLine1Txt>
          <CityNm>ANN ARBOR</CityNm>
          <StateAbbreviationCd>MI</StateAbbreviationCd>
          <ZIPCd>48104</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>12000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule-01">
      <AccountingFeesDetail>
        <CategoryTxt>WALTER, BOESKY &amp; ASSOCIATES AUDIT</CategoryTxt>
        <Amt>5260</Amt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2-01">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>T ROWE PRICE CAP APPRECIATION FUND (PRWCX)</CategoryOrItemTxt>
        <BookValueAmt>728676</BookValueAmt>
        <EOYFMVAmt>728676</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>FPA CRESCENT PORT INSTL CLAS SHS (FPACX)</CategoryOrItemTxt>
        <BookValueAmt>314823</BookValueAmt>
        <EOYFMVAmt>314823</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD S&amp;P 500 GROWTH (VOOG)</CategoryOrItemTxt>
        <BookValueAmt>82870</BookValueAmt>
        <EOYFMVAmt>82870</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ISHARES CORE S&amp;P GROWTH (IUSG)</CategoryOrItemTxt>
        <BookValueAmt>72551</BookValueAmt>
        <EOYFMVAmt>72551</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PIONEER FUNDAMENTAL GROWTH (FUNYX)</CategoryOrItemTxt>
        <BookValueAmt>87468</BookValueAmt>
        <EOYFMVAmt>87468</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CALAMOS MARKET NEUTRAL FD CL I (CMNIX)</CategoryOrItemTxt>
        <BookValueAmt>111721</BookValueAmt>
        <EOYFMVAmt>111721</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherAssetsSchedule documentId="OtherAssetsSchedule-01">
      <OtherAssetsScheduleGrp>
        <Desc>COPYRIGHT</Desc>
        <BOYBookValueAmt>30</BOYBookValueAmt>
        <EOYBookValueAmt>30</EOYBookValueAmt>
        <EOYFMVAmt>30</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule-01">
      <OtherExpensesScheduleGrp>
        <Desc>SPECIAL RECOGNITION</Desc>
        <RevenueAndExpensesPerBooksAmt>531</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>CREDIT CARD AND BANK FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>710</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>155</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>756</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="OtherIncreasesSchedule-01">
      <OtherIncreasesDetail>
        <Desc>UNREALIZED GAIN ON INVESTMENTS</Desc>
        <Amt>213592</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedu-01">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>CAPTRUST INVESTMENT</CategoryTxt>
        <Amt>10818</Amt>
        <NetInvestmentIncomeAmt>10818</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>10818</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>MI DIST KIWANIS INTL DIST SERVICES</CategoryTxt>
        <Amt>1800</Amt>
        <DisbursementsCharitablePrpsAmt>1800</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule-01">
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE</CategoryTxt>
        <Amt>582</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>STATE TAX</CategoryTxt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>