﻿<?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="2025v4.2">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-08-27T09:38:17-05:00</ReturnTs>
    <TaxPeriodEndDt>2025-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>721088864</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>LAPORTE APAC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>111 VETERANS MEMORIAL BLVD 600</AddressLine1Txt>
        <CityNm>METAIRIE</CityNm>
        <StateAbbreviationCd>LA</StateAbbreviationCd>
        <ZIPCd>700054958</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2025-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>720408914</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>BUREAU OF GOVERNMENTAL RESEARCH INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>BURE</BusinessNameControlTxt>
      <PhoneNum>5045254152</PhoneNum>
      <USAddress>
        <AddressLine1Txt>400 POYDRAS STREET 2950</AddressLine1Txt>
        <CityNm>NEW ORLEANS</CityNm>
        <StateAbbreviationCd>LA</StateAbbreviationCd>
        <ZIPCd>70130</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>REBECCA MOWBRAY</PersonNm>
      <PersonTitleTxt>PRESIDENT &amp; CEO</PersonTitleTxt>
      <PhoneNum>5045254152</PhoneNum>
      <SignatureDt>2026-08-26</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>JOHN S WILES CPA</PreparerPersonNm>
      <PTIN>P01222673</PTIN>
      <PhoneNum>5048355522</PhoneNum>
      <PreparationDt>2026-08-26</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2025</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990 documentId="RetDoc1038000001" referenceDocumentId="RetDoc1044400001">
      <AddressChangeInd>X</AddressChangeInd>
      <PrincipalOfficerNm>REBECCA MOWBRAY</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>400 POYDRAS STREET 2950</AddressLine1Txt>
        <CityNm>NEW ORLEANS</CityNm>
        <StateAbbreviationCd>LA</StateAbbreviationCd>
        <ZIPCd>70130</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>5469050</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>0</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <WebsiteAddressTxt>WWW.BGR.ORG</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>1932</FormationYr>
      <LegalDomicileStateCd>LA</LegalDomicileStateCd>
      <ActivityOrMissionDesc>THE BUREAU OF GOVERNMENTAL RESEARCH IS A PRIVATE, NONPROFIT, INDEPENDENT (CONT'D ON SCH. O) RESEARCH ORGANIZATION DEDICATED TO INFORMED PUBLIC POLICY MAKING AND THE EFFECTIVE USE OF PUBLIC RESOURCES FOR THE IMPROVEMENT OF GOVERNMENT IN THE GREATER NEW ORLEANS METROPOLITAN AREA.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>31</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>31</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>11</TotalEmployeeCnt>
      <TotalVolunteersCnt>0</TotalVolunteersCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <NetUnrelatedBusTxblIncmAmt>0</NetUnrelatedBusTxblIncmAmt>
      <PYContributionsGrantsAmt>907680</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>1544175</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>0</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>0</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>371307</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>194037</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>-52861</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>-53301</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>1226126</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>1684911</CYTotalRevenueAmt>
      <PYGrantsAndSimilarPaidAmt>0</PYGrantsAndSimilarPaidAmt>
      <CYGrantsAndSimilarPaidAmt>0</CYGrantsAndSimilarPaidAmt>
      <PYBenefitsPaidToMembersAmt>0</PYBenefitsPaidToMembersAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>836035</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>968741</CYSalariesCompEmpBnftPaidAmt>
      <PYTotalProfFndrsngExpnsAmt>0</PYTotalProfFndrsngExpnsAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>272712</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>340763</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>332548</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>1176798</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>1301289</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>49328</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>383622</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>10544154</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>11923811</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>50317</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>62193</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>10493837</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>11861618</NetAssetsOrFundBalancesEOYAmt>
      <InfoInScheduleOPartIIIInd>X</InfoInScheduleOPartIIIInd>
      <MissionDesc>THE BUREAU OF GOVERNMENTAL RESEARCH IS A PRIVATE, NONPROFIT, INDEPENDENT RESEARCH ORGANIZATION DEDICATED TO INFORMED PUBLIC POLICY MAKING AND THE EFFECTIVE USE OF PUBLIC RESOURCES FOR THE IMPROVEMENT OF GOVERNMENT IN THE NEW ORLEANS METROPOLITAN AREA.</MissionDesc>
      <SignificantNewProgramSrvcInd>0</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>0</SignificantChangeInd>
      <ExpenseAmt>760053</ExpenseAmt>
      <Desc>MONITORING AND REPORTING ON LOCAL GOVERNMENT ISSUES: IN 2025 BGR REPORTED ON MANY COMPLEX ISSUES IN LOCAL GOVERNANCE IN 12 REPORTS. AMONG THE HIGHLIGHTS: IN 2025, BGR PUBLISHED 2 "ON THE BALLOT" REPORTS TO INFORM VOTERS ABOUT IMPORTANT LOCAL PROPOSITIONS. THESE REPORTS ANALYZED A $510 MILLION CAPITAL BOND AUTHORIZATION FOR NEW ORLEANS, AND A PROPOSED AMENDMENT TO THE NEW ORLEANS CITY CHARTER RELATED TO THE CITY ATTORNEY. VOTERS AGREED WITH BGR'S POSITION FOR THE BOND AUTHORIZATION AMENDMENT AND THE CITY CHARTER AMENDMENT. IN DECEMBER, BGR PUBLISHED A MAJOR REPORT WHICH PRESENTED SEVERAL WAYS THE NEW ORLEANS ERNEST N. MORIAL CONVENTION CENTER COULD RESTRUCTURE THE PUBLIC SUBSIDIES FOR ITS CONVENTION HEADQUARTERS HOTEL PROJECT TO SAVE SUBSTANTIAL TAX DOLLARS WITHOUT JEOPARDIZING THE (CONT'D ON SCH O) HOTEL PROJECT. IN AUGUST, BGR PUBLISHED CANDIDATE Q&amp;AS FOR THE MAYOR, CITY COUNCIL, AND SHERIFF ELECTIONS. THIS DASHBOARD PROVIDED VOTERS WITH AN EASY TO NAVIGATE WEBPAGE THAT SHARED CANDIDATE ANSWERS TO A BGR SURVEY ABOUT KEY ISSUES IN THE NOVEMBER ELECTIONS. IN 2025, BGR RESEARCH STAFF MONITORED MORE THAN 70 STATE AND LOCAL GOVERNMENT AGENCIES THROUGHOUT THE NEW ORLEANS AREA, INCLUDING THE NEW ORLEANS CITY COUNCIL AND ITS COMMITTEES. BGR ALSO TRACKED THE LOUISIANA LEGISLATURE AND ANY BILLS THAT WERE OF PARTICULAR IMPORTANCE TO THE LOCAL COMMUNITY.AFTER RESEARCH IS COMPLETED, BGR PURSUES PROPER IMPLEMENTATION OF THEIR RECOMMENDATIONS, SOMETIMES OVER THE COURSE OF MANY YEARS. THIS IS DONE THROUGH A SERIES OF FOLLOW-UP PUBLICATIONS AND OUTREACH TO CITIZENS GROUPS, THE MEDIA, DECISION-MAKERS, AND OTHER KEY STAKEHOLDERS IN RELEVANT POLICY AREAS. IN TERMS OF EFFECTIVENESS, BGR HAS HAD SUCCESSFUL POSITIONS ON BALLOT RESULTS 78% OF THE TIME SINCE 2014ANOTHER MEASURE OF BGR'S IMPACT IS ITS PRESENCE IN THE MEDIA AND LEVEL OF ENGAGEMENT WITH THEIR CONTENT. IN 2025, THE NEWS MEDIA CITED BGR REPORTS MORE THAN 100 TIMES. FOR ITS WORK, BGR HAS RECEIVED MANY AWARDS AND RECOGNITIONS FROM THE GOVERNMENTAL RESEARCH ASSOCIATION. IN 2025 BGR WON THE BEST SHORT FORM WRITING FOR OUR 2025 REPORT ON THE ORLEANS PARISH SHERIFF AFTER THE RECENT JAILBREAK, THE OUTSTANDING POLICY ACHIEVEMENT AWARD FOR OUR EFFORT TO ENCOURAGE THE CITY OF NEW ORLEANS TO MEET THE CRITERIA FOR ISSUING $468 MILLION IN TAX-EXEMPT MUNICIPAL BONDS AS OPPOSED TO TAXABLE BONDS, WHICH CARRY HIGHER INTEREST RATES. THIS WILL SAVE PROPERTY TAXPAYERS AN ESTIMATED $88.5 MILLION OVER THE BONDS' 30-YEAR LIFESPAN, AND THE MOST EFFECTIVE EDUCATION AWARD FOR OUR "FAIR SHARE" REPORT FOLLOW-UP THAT INFORMED THE PUBLIC ABOUT THE IMPLEMENTATION AND OUTCOMES OF TOURISM TAXES TO MAINTAIN STREETS, DRAINAGE AND OTHER INFRASTRUCTURE IN NEW ORLEANS.BGR'S WORK SERVES CITIZENS ACROSS MANY LOCALITIES INCLUDING JEFFERSON, ORLEANS, AND ST. TAMMANY PARISHES. BASED ON 2020 U.S. CENSUS DATA, THE POTENTIAL REACH OF BGR'S MONITORING AND REPORTING IS APPROXIMATELY 1 MILLION PEOPLE.</Desc>
      <ProgSrvcAccomActy2Grp>
        <ExpenseAmt>32251</ExpenseAmt>
        <Desc>BREAKFAST BRIEFINGS: BGR'S BREAKFAST BRIEFINGS ARE PUBLIC FORUM WHERE EXPERTS AND DECISION-MAKERS ARE INVITED TO SHARE THEIR THOUGHTS ON MAJOR PUBLIC POLICY ISSUES IN THE AREA. THESE EVENTS KEEP CITIZENS INFORMED AND MOTIVATE CIVIC ENGAGEMENT AND AN INFORMED PUBLIC POLICY DIALOGUE, ALL OF WHICH ARE KEY COMPONENTS OF BGR'S MISSION AND ESSENTIAL INGREDIENTS FOR EFFECTIVE GOVERNMENT. IN 2025, BGR HOSTED FOUR BREAKFAST BRIEFINGS. ON FEBRUARY 11, BGR PRESENTED A BREAKFAST BRIEFING WITH ST. TAMMANY PARISH PRESIDENT MIKE COOPER, ECONOMIST ROBERT HABANS, AND ST. TAMMANY CORP.'S CEO CHRIS MASINGILL THAT DISCUSSED THE IMPLICATIONS AND OPPORTUNITIES ASSOCIATED WITH ST. TAMMANY'S ECONOMIC GROWTH, IN PARTICULAR THE SHIFT FROM BEING A PART OF THE NEW ORLEANS METROPOLITAN AREA TO BECOMING ITS OWN (CONT'D ON SCH O) ECONOMIC AREA. ON MARCH 26, BGR PRESENTED A BREAKFAST BRIEFING WITH GREATER NEW ORLEANS, INC. PRESIDENT AND CEO MICHAEL HECHT WHERE MR. HECHT SHARED HIS INSIGHTS FROM GUIDING THE CITY'S PREPARATIONS FOR THE 2025 SUPER BOWL. HE DISCUSSED LESSONS NEW ORLEANS CAN LEARN FOR FUTURE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT PROJECTS. ON JUNE 18, BGR PRESENTED A BREAKFAST BRIEFING WHERE BGR PRESIDENT AND CEO REBECCA MOWBRAY MODERATED A PANEL DISCUSSION ON THE LEGACY OF GOVERNMENTAL REFORMS FOLLOWING THE HURRICANE KATRINA DISASTER IN 2005 AND THE ROLE OF CIVIC ENGAGEMENT IN DRIVING FUTURE PROGRESS. PANELISTS WERE CALVIN JOHNSON, RETIRED FORMER CHIEF JUDGE OF ORLEANS PARISH CRIMINAL DISTRICT COURT, DR. ROBERT COLLINS, DILLARD UNIVERSITY PROFESSOR OF URBAN STUDIES AND PUBLIC POLICY, AND ANDY KOPPLIN, GREATER NEW ORLEANS FOUNDATION PRESIDENT AND CEO. ON SEPTEMBER 18, BGR PRESENTED A BREAKFAST BRIEFING WHERE LOUISIANA COMMISSIONER OF INSURANCE TIM TEMPLE SHARED HIS OUTLOOK FOR THE STATE'S PROPERTY INSURANCE MARKETS.</Desc>
      </ProgSrvcAccomActy2Grp>
      <TotalProgramServiceExpensesAmt>792304</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc1039100001">1</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="RetDoc1234500001">1</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd referenceDocumentId="RetDoc1039600001">0</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd referenceDocumentId="RetDoc1039600001">1</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd referenceDocumentId="RetDoc1039600001">0</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc1040000001">0</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc1040000001">0</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc1040000001">0</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc1040000001">0</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd>1</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc1040000001">1</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc1040000001">0</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc1040000001">0</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc1040000001">0</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc1040000001">1</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc1040000001">1</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">1</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">0</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>0</SchoolOperatingInd>
      <ForeignOfficeInd>0</ForeignOfficeInd>
      <ForeignActivitiesInd>0</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd>0</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd>0</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd referenceDocumentId="RetDoc1041200001">1</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd referenceDocumentId="RetDoc1041200001">1</FundraisingActivitiesInd>
      <GamingActivitiesInd referenceDocumentId="RetDoc1041200001">0</GamingActivitiesInd>
      <OperateHospitalInd>0</OperateHospitalInd>
      <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
      <ScheduleJRequiredInd referenceDocumentId="RetDoc1042400001">1</ScheduleJRequiredInd>
      <TaxExemptBondsInd>0</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>0</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>0</PYExcessBenefitTransInd>
      <LoanOutstandingInd>0</LoanOutstandingInd>
      <GrantToRelatedPersonInd>0</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>0</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>0</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>0</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd>0</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>0</DeductibleArtContributionInd>
      <TerminateOperationsInd>0</TerminateOperationsInd>
      <PartialLiquidationInd>0</PartialLiquidationInd>
      <DisregardedEntityInd>0</DisregardedEntityInd>
      <RelatedEntityInd>0</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>0</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>0</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd>0</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>1</ScheduleORequiredInd>
      <IRPDocumentCnt>14</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <BackupWthldComplianceInd>1</BackupWthldComplianceInd>
      <EmployeeCnt>11</EmployeeCnt>
      <EmploymentTaxReturnsFiledInd>1</EmploymentTaxReturnsFiledInd>
      <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>0</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>0</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>0</NondeductibleContributionsInd>
      <QuidProQuoContributionsInd>1</QuidProQuoContributionsInd>
      <QuidProQuoContriDisclInd>1</QuidProQuoContriDisclInd>
      <Form8282PropertyDisposedOfInd>0</Form8282PropertyDisposedOfInd>
      <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
      <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
      <IndoorTanningServicesInd>0</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>0</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>31</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>31</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>1</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>0</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>1</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>0</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>1</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>1</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>0</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>1</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>1</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>0</OfficerMailingAddressInd>
      <LocalChaptersInd>0</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>1</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>1</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>1</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>1</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>1</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>1</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>1</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>1</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>0</InvestmentInJointVentureInd>
      <StatesWhereCopyOfReturnIsFldCd>LA</StatesWhereCopyOfReturnIsFldCd>
      <OwnWebsiteInd>X</OwnWebsiteInd>
      <OtherWebsiteInd>X</OtherWebsiteInd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <BusinessName>
          <BusinessNameLine1Txt>DEREK LANDRUM</BusinessNameLine1Txt>
        </BusinessName>
        <PhoneNum>5045254152</PhoneNum>
        <USAddress>
          <AddressLine1Txt>1055 ST CHARLES AVENUE SUITE 200</AddressLine1Txt>
          <CityNm>NEW ORLEANS</CityNm>
          <StateAbbreviationCd>LA</StateAbbreviationCd>
          <ZIPCd>70130</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <Form990PartVIISectionAGrp>
        <PersonNm>ANNE P BANOS</PersonNm>
        <TitleTxt>VICE-CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>4.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>STEVEN W USDIN</PersonNm>
        <TitleTxt>CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>10.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>VANESSA B CLAIBORNE</PersonNm>
        <TitleTxt>ASSISTANT TREASURER</TitleTxt>
        <AverageHoursPerWeekRt>4.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>LOUIS M FREEMAN JR</PersonNm>
        <TitleTxt>TREASURER</TitleTxt>
        <AverageHoursPerWeekRt>4.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>H MERRITT LANE III</PersonNm>
        <TitleTxt>PAST CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>4.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>NATHALIE SIMON</PersonNm>
        <TitleTxt>SECRETARY</TitleTxt>
        <AverageHoursPerWeekRt>4.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>PERRY EASTMAN IV</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>KENNETH ST CHARLES</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MELANIE BRONFIN</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MOLLYE M DEMOSTHENIDY</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>PATTY RIDDLEBARGER</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>RYAN ADKERSON</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>R FOSTER DUNCAN</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>RONALD P MCCLAIN</PersonNm>
        <TitleTxt>ASSISTANT SCRETARY</TitleTxt>
        <AverageHoursPerWeekRt>4.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JOHN LANDRUM</PersonNm>
        <TitleTxt>EXECUTIVE COMMITTEE</TitleTxt>
        <AverageHoursPerWeekRt>4.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>SYRITA STEIB</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CARLIN CONNER</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>VERA TRIPLETT</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>KHERI BILLY</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>BEN A DUPUY</PersonNm>
        <TitleTxt>EXECUTIVE COMMITTEE</TitleTxt>
        <AverageHoursPerWeekRt>4.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CHARLES WEST</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DAVID C RIEVESCHL</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DOUGLAS M STOKES</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JESSIE HAYNES</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ELIZABETH HEFLER</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ELIZABETH BOH</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>GRAHAM RALSTON</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>LAMAR VILLERE</PersonNm>
        <TitleTxt>EXECUTIVE COMMITTEE</TitleTxt>
        <AverageHoursPerWeekRt>4.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>PATRICK HERNANDEZ</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MIKE KATZ</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>LAUREN MASTION</PersonNm>
        <TitleTxt>MEMBER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>REBECCA MOWBRAY</PersonNm>
        <TitleTxt>PRESIDENT/CEO</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>230733</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>20247</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>STEPHEN B STUART</PersonNm>
        <TitleTxt>VP &amp; RESEARCH DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>145454</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>4521</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>376187</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>0</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>24768</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>2</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>1</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <CntrctRcvdGreaterThan100KCnt>0</CntrctRcvdGreaterThan100KCnt>
      <MembershipDuesAmt>641605</MembershipDuesAmt>
      <FundraisingAmt>185232</FundraisingAmt>
      <AllOtherContributionsAmt>717338</AllOtherContributionsAmt>
      <TotalContributionsAmt>1544175</TotalContributionsAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>266544</TotalRevenueColumnAmt>
        <ExclusionAmt>266544</ExclusionAmt>
      </InvestmentIncomeGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>3620455</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>3692962</SecuritiesAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <SecuritiesAmt>-72507</SecuritiesAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>-72507</TotalRevenueColumnAmt>
        <ExclusionAmt>-72507</ExclusionAmt>
      </NetGainOrLossInvestmentsGrp>
      <FundraisingGrossIncomeAmt>37876</FundraisingGrossIncomeAmt>
      <ContriRptFundraisingEventAmt>185232</ContriRptFundraisingEventAmt>
      <FundraisingDirectExpensesAmt>91177</FundraisingDirectExpensesAmt>
      <NetIncmFromFundraisingEvtGrp>
        <TotalRevenueColumnAmt>-53301</TotalRevenueColumnAmt>
        <ExclusionAmt>-53301</ExclusionAmt>
      </NetIncmFromFundraisingEvtGrp>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>1684911</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>0</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>140736</ExclusionAmt>
      </TotalRevenueGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>230733</TotalAmt>
        <ProgramServicesAmt>139834</ProgramServicesAmt>
        <ManagementAndGeneralAmt>37128</ManagementAndGeneralAmt>
        <FundraisingAmt>53771</FundraisingAmt>
      </CompCurrentOfcrDirectorsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>600355</TotalAmt>
        <ProgramServicesAmt>425369</ProgramServicesAmt>
        <ManagementAndGeneralAmt>71181</ManagementAndGeneralAmt>
        <FundraisingAmt>103805</FundraisingAmt>
      </OtherSalariesAndWagesGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>23331</TotalAmt>
        <ProgramServicesAmt>15703</ProgramServicesAmt>
        <ManagementAndGeneralAmt>3164</ManagementAndGeneralAmt>
        <FundraisingAmt>4464</FundraisingAmt>
      </PensionPlanContributionsGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>54850</TotalAmt>
        <ProgramServicesAmt>34934</ProgramServicesAmt>
        <ManagementAndGeneralAmt>9393</ManagementAndGeneralAmt>
        <FundraisingAmt>10523</FundraisingAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>59472</TotalAmt>
        <ProgramServicesAmt>40719</ProgramServicesAmt>
        <ManagementAndGeneralAmt>7634</ManagementAndGeneralAmt>
        <FundraisingAmt>11119</FundraisingAmt>
      </PayrollTaxesGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>68032</TotalAmt>
        <ManagementAndGeneralAmt>68032</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>39585</TotalAmt>
        <ProgramServicesAmt>17153</ProgramServicesAmt>
        <ManagementAndGeneralAmt>14193</ManagementAndGeneralAmt>
        <FundraisingAmt>8239</FundraisingAmt>
      </FeesForServicesOtherGrp>
      <AdvertisingGrp>
        <TotalAmt>2465</TotalAmt>
        <ProgramServicesAmt>504</ProgramServicesAmt>
        <FundraisingAmt>1961</FundraisingAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>8993</TotalAmt>
        <ProgramServicesAmt>6116</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1172</ManagementAndGeneralAmt>
        <FundraisingAmt>1705</FundraisingAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
        <TotalAmt>41502</TotalAmt>
        <ProgramServicesAmt>22283</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4318</ManagementAndGeneralAmt>
        <FundraisingAmt>14901</FundraisingAmt>
      </InformationTechnologyGrp>
      <OccupancyGrp>
        <TotalAmt>60077</TotalAmt>
        <ProgramServicesAmt>40857</ProgramServicesAmt>
        <ManagementAndGeneralAmt>7829</ManagementAndGeneralAmt>
        <FundraisingAmt>11391</FundraisingAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>7654</TotalAmt>
        <ProgramServicesAmt>5205</ProgramServicesAmt>
        <ManagementAndGeneralAmt>998</ManagementAndGeneralAmt>
        <FundraisingAmt>1451</FundraisingAmt>
      </TravelGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>5204</TotalAmt>
        <ProgramServicesAmt>3539</ProgramServicesAmt>
        <ManagementAndGeneralAmt>678</ManagementAndGeneralAmt>
        <FundraisingAmt>987</FundraisingAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>5327</TotalAmt>
        <ProgramServicesAmt>3623</ProgramServicesAmt>
        <ManagementAndGeneralAmt>694</ManagementAndGeneralAmt>
        <FundraisingAmt>1010</FundraisingAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>DEVELOPMENT</Desc>
        <TotalAmt>42824</TotalAmt>
        <FundraisingAmt>42824</FundraisingAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>DUES AND SUBSCRIPTIONS</Desc>
        <TotalAmt>16374</TotalAmt>
        <ProgramServicesAmt>16374</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>MISCELLANEOUS</Desc>
        <TotalAmt>10940</TotalAmt>
        <ProgramServicesAmt>1949</ProgramServicesAmt>
        <ManagementAndGeneralAmt>5800</ManagementAndGeneralAmt>
        <FundraisingAmt>3191</FundraisingAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>EVENT EXPENSES</Desc>
        <TotalAmt>9000</TotalAmt>
        <ProgramServicesAmt>9000</ProgramServicesAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>14571</TotalAmt>
        <ProgramServicesAmt>9142</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4059</ManagementAndGeneralAmt>
        <FundraisingAmt>1370</FundraisingAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>1301289</TotalAmt>
        <ProgramServicesAmt>792304</ProgramServicesAmt>
        <ManagementAndGeneralAmt>236273</ManagementAndGeneralAmt>
        <FundraisingAmt>272712</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>947419</BOYAmt>
        <EOYAmt>1167990</EOYAmt>
      </CashNonInterestBearingGrp>
      <AccountsReceivableGrp>
        <BOYAmt>98000</BOYAmt>
        <EOYAmt>373380</EOYAmt>
      </AccountsReceivableGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>14162</BOYAmt>
        <EOYAmt>32274</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>98557</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>84284</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>5909</BOYAmt>
        <EOYAmt>14273</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsPubTradedSecGrp>
        <BOYAmt>9456944</BOYAmt>
        <EOYAmt>10311789</EOYAmt>
      </InvestmentsPubTradedSecGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>21720</BOYAmt>
        <EOYAmt>24105</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>10544154</BOYAmt>
        <EOYAmt>11923811</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>10229</BOYAmt>
        <EOYAmt>20218</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <DeferredRevenueGrp>
        <BOYAmt>20000</BOYAmt>
        <EOYAmt>20000</EOYAmt>
      </DeferredRevenueGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>20088</BOYAmt>
        <EOYAmt>21975</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>50317</BOYAmt>
        <EOYAmt>62193</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>1153987</BOYAmt>
        <EOYAmt>1431853</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>9339850</BOYAmt>
        <EOYAmt>10429765</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>10493837</BOYAmt>
        <EOYAmt>11861618</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>10544154</BOYAmt>
        <EOYAmt>11923811</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>383622</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>1008341</NetUnrlzdGainsLossesInvstAmt>
      <InvestmentExpenseAmt>-24181</InvestmentExpenseAmt>
      <OtherChangesInNetAssetsAmt>0</OtherChangesInNetAssetsAmt>
      <InfoInScheduleOPartXIIInd>X</InfoInScheduleOPartXIIInd>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>800618</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>1014484</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>826175</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>906177</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1544175</CurrentTaxYearAmt>
        <TotalAmt>5091629</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>800618</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>1014484</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>826175</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>906177</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1544175</CurrentTaxYearAmt>
        <TotalAmt>5091629</TotalAmt>
      </TotalCalendarYear170Grp>
      <SubstantialContributorsTotAmt>354330</SubstantialContributorsTotAmt>
      <PublicSupportTotal170Amt>4737299</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>179762</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>237638</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>234380</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>263752</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>266544</CurrentTaxYearAmt>
        <TotalAmt>1182076</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <OtherIncome170Grp>
        <CurrentTaxYearMinus2YearsAmt>1035</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>1935</CurrentTaxYearMinus1YearAmt>
        <TotalAmt>2970</TotalAmt>
      </OtherIncome170Grp>
      <TotalSupportAmt>6276675</TotalSupportAmt>
      <PublicSupportCY170Pct>0.75470</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.62840</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleC documentId="RetDoc1039600001">
      <TotalDirectLobbyingGrp>
        <FilingOrganizationsTotalAmt>141</FilingOrganizationsTotalAmt>
      </TotalDirectLobbyingGrp>
      <TotalLobbyingExpendGrp>
        <FilingOrganizationsTotalAmt>141</FilingOrganizationsTotalAmt>
      </TotalLobbyingExpendGrp>
      <OtherExemptPurposeExpendGrp>
        <FilingOrganizationsTotalAmt>1392326</FilingOrganizationsTotalAmt>
      </OtherExemptPurposeExpendGrp>
      <TotalExemptPurposeExpendGrp>
        <FilingOrganizationsTotalAmt>1392467</FilingOrganizationsTotalAmt>
      </TotalExemptPurposeExpendGrp>
      <LobbyingNontaxableAmountGrp>
        <FilingOrganizationsTotalAmt>214247</FilingOrganizationsTotalAmt>
      </LobbyingNontaxableAmountGrp>
      <GrassrootsNontaxableGrp>
        <FilingOrganizationsTotalAmt>53562</FilingOrganizationsTotalAmt>
      </GrassrootsNontaxableGrp>
      <TotLbbyngGrassrootMnsNonTxGrp>
        <FilingOrganizationsTotalAmt>0</FilingOrganizationsTotalAmt>
      </TotLbbyngGrassrootMnsNonTxGrp>
      <TotLbbyExpendMnsLbbyngNonTxGrp>
        <FilingOrganizationsTotalAmt>0</FilingOrganizationsTotalAmt>
      </TotLbbyExpendMnsLbbyngNonTxGrp>
      <AvgLobbyingNontaxableAmountGrp>
        <CurrentYearMinus3Amt>192694</CurrentYearMinus3Amt>
        <CurrentYearMinus2Amt>198432</CurrentYearMinus2Amt>
        <CurrentYearMinus1Amt>202446</CurrentYearMinus1Amt>
        <CurrentYearAmt>214247</CurrentYearAmt>
        <TotalAmt>807819</TotalAmt>
      </AvgLobbyingNontaxableAmountGrp>
      <LobbyingCeilingAmt>1211729</LobbyingCeilingAmt>
      <AvgTotalLobbyingExpendGrp>
        <CurrentYearMinus3Amt>547</CurrentYearMinus3Amt>
        <CurrentYearMinus2Amt>1765</CurrentYearMinus2Amt>
        <CurrentYearMinus1Amt>13379</CurrentYearMinus1Amt>
        <CurrentYearAmt>141</CurrentYearAmt>
        <TotalAmt>15832</TotalAmt>
      </AvgTotalLobbyingExpendGrp>
      <AvgGrassrootsNontaxableGrp>
        <CurrentYearMinus3Amt>48174</CurrentYearMinus3Amt>
        <CurrentYearMinus2Amt>49608</CurrentYearMinus2Amt>
        <CurrentYearMinus1Amt>50612</CurrentYearMinus1Amt>
        <CurrentYearAmt>53562</CurrentYearAmt>
        <TotalAmt>201956</TotalAmt>
      </AvgGrassrootsNontaxableGrp>
      <GrassrootsCeilingAmt>302934</GrassrootsCeilingAmt>
    </IRS990ScheduleC>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>9202850</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>1148908</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>415973</OtherExpendituresAmt>
        <EndYearBalanceAmt>9935785</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>8836744</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>782723</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>416617</OtherExpendituresAmt>
        <EndYearBalanceAmt>9202850</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>8046496</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>1189610</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>398961</OtherExpendituresAmt>
        <EndYearBalanceAmt>8836744</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>9970261</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>-1642161</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>282004</OtherExpendituresAmt>
        <EndYearBalanceAmt>8046496</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>9255756</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>1014535</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>300000</OtherExpendituresAmt>
        <EndYearBalanceAmt>9970261</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <BoardDesignatedBalanceEOYPct>0.54667</BoardDesignatedBalanceEOYPct>
      <PrmnntEndowmentBalanceEOYPct>0.45333</PrmnntEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>1</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>98557</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>84284</DepreciationAmt>
        <BookValueAmt>14273</BookValueAmt>
      </EquipmentGrp>
      <TotalBookValueLandBuildingsAmt>14273</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>LEASE LIABILITIES</Desc>
        <Amt>21975</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>21975</TotalLiabilityAmt>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>2836086</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>1008341</NetUnrealizedGainsInvstAmt>
      <DonatedServicesAndUseFcltsAmt>75839</DonatedServicesAndUseFcltsAmt>
      <OtherRevenueAmt>91177</OtherRevenueAmt>
      <RevenueNotReportedAmt>1175357</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>1660729</RevenueSubtotalAmt>
      <InvestmentExpensesNotIncldAmt>24182</InvestmentExpensesNotIncldAmt>
      <RevenueNotReportedFinclStmtAmt>24182</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>1684911</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>1468305</TotExpnsEtcAuditedFinclStmtAmt>
      <DonatedServicesUseFcltsAmt>75839</DonatedServicesUseFcltsAmt>
      <OtherExpensesIncludedAmt>91177</OtherExpensesIncludedAmt>
      <ExpensesNotReportedAmt>167016</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>1301289</ExpensesSubtotalAmt>
      <ExpensesNotRptFinclStmtAmt>0</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>1301289</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>BGR'S ENDOWMENTS CONSIST OF DONOR RESTRICTED GNOF INVESTMENT POOL FUND, THE JANET HOWARD CHAIR IN GOVERNMENTAL RESEARCH ENDOWMENT FUND (HOWARD CHAIR), THE BGR ENDOWMENT FUND CREATED BY BGR, AND THE ZEMURRAY FUND. GNOF INVESTMENT POOL FUND IS MAINTAINED AND MANAGED BY THE GNOF WITHIN THEIR INVESTMENT POOL. THE FUND IS INVESTED BY GNOF WITH AN ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THESE ENDOWMENT ASSETS OVER THE LONG-TERM. ANNUAL DISTRIBUTIONS OF INCOME FROM THE GNOF INVESTMENT POOL FUND, AS DETERMINED BY THE BOARD OF TRUSTEES OF GNOF ARE PROVIDED TO BGR. BGR'S BOARD OF DIRECTORS THEN DECIDES TO EITHER USE THE FUNDS FOR OPERATIONS OF BGR OR TO INVEST IN ONE OF ITS ENDOWMENT FUNDS. BGR CREATED THE BGR ENDOWMENT FUND IN 2007. THE INVESTMENT OBJECTIVE OF THE BGR ENDOWMENT FUND IS TO EMPHASIZE TOTAL RETURN. SPECIFICALLY, THE PRIMARY OBJECTIVE IS TO EMPHASIZE LONG-TERM GROWTH OF PRINCIPAL WHILE AVOIDING EXCESSIVE RISK. THE SECONDARY OBJECTIVE IS TO ACHIEVE RETURNS IN EXCESS OF THE RATE OF INFLATION PLUS SPENDING OVER THE INVESTMENT HORIZON IN ORDER TO PRESERVE THE PURCHASING POWER OF THE FUND'S ASSETS. RISK CONTROL IS AN IMPORTANT ELEMENT IN THE INVESTMENT OF THE FUND ASSETS. IN 2015, A DONOR CREATED THE HOWARD CHAIR. THE INVESTMENT OBJECTIVE OF THE BGR ENDOWMENT FUND IS TO EMPHASIZE TOTAL RETURN. SPECIFICALLY, THE PRIMARY OBJECTIVE IS TO EMPHASIZE LONG-TERM GROWTH OF PRINCIPAL WHILE AVOIDING EXCESSIVE RISK. THE SECONDARY OBJECTIVE IS TO ACHIEVE RETURNS IN EXCESS OF THE RATE OF INFLATION PLUS SPENDING OVER THE INVESTMENT HORIZON IN ORDER TO PRESERVE THE PURCHASING POWER OF THE FUND'S ASSETS. SUCH DISTRIBUTABLE FUNDS SHALL BE USED TO COVER THE EXPENSES OF A SPEAKER AT BGR'S ANNUAL LUNCHEON, HENCEFORTH TO BE RECOGNIZED AS THE JANET HOWARD SPEAKER SERIES IN GOVERNMENTAL RESEARCH. IN 2018, A DONOR CREATED THE ZEMURRAY CHAIR ENDOWMENT FUND WITH AN INITIAL GIFT OF $2,000,000. DURING 2020, AN ADDITIONAL $1,000,000 WAS CONTRIBUTED TO THE FUND. THE INVESTMENT OBJECTIVES OF THE ZEMURRAY CHAIR ENDOWMENT FUND ARE TO EMPHASIZE TOTAL RETURN. SPECIFICALLY, THE PRIMARY OBJECTIVE IS TO EMPHASIZE LONG-TERM GROWTH OF PRINCIPAL WHILE AVOIDING EXCESSIVE RISK. SHORT-TERM VOLATILITY WILL BE TOLERATED IN AS MUCH AS IT IS CONSISTENT WITH THE VOLATILITY OF COMPARABLE CAPITAL MARKET BENCHMARKS. THE SECONDARY OBJECTIVE IS TO ACHIEVE RETURNS IN EXCESS OF THE RATE OF INFLATION PLUS SPENDING OVER THE INVESTMENT HORIZON IN ORDER TO PRESERVE THE PURCHASING POWER OF THE FUND'S ASSETS. RISK CONTROL IS AN IMPORTANT ELEMENT IN THE INVESTMENT OF THE FUND ASSETS. SUCH DISTRIBUTABLE FUNDS SHALL BE USED TO SUPPORT THE SALARY FOR THE POSITION OF BGR'S PRESIDENT AND CEO, WHICH POSITION SHALL HEREAFTER PERMANENTLY BEAR THE TITLE OF THE SAMUEL ZEMURRAY CHAIR IN RESEARCH LEADERSHIP IN ALL AND EVERY REFERENCE TO IT.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIONS TAKEN BY AN ENTITY IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. BGR BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND MANAGEMENT HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES, IF ANY, WOULD BE INCLUDED IN INCOME TAX EXPENSE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>ANNUAL LUNCHEON EXPENSES 91,177.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>ANNUAL LUNCHEON EXPENSES 91,177.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleG documentId="RetDoc1041200001">
      <MailSolicitationsInd>X</MailSolicitationsInd>
      <EmailSolicitationsInd>X</EmailSolicitationsInd>
      <PhoneSolicitationsInd>X</PhoneSolicitationsInd>
      <InPersonSolicitationsInd>X</InPersonSolicitationsInd>
      <SolicitationOfNonGovtGrantsInd>X</SolicitationOfNonGovtGrantsInd>
      <SpecialFundraisingEventsInd>X</SpecialFundraisingEventsInd>
      <AgrmtProfFundraisingActyInd>0</AgrmtProfFundraisingActyInd>
      <FundraiserActivityInfoGrp>
        <OrganizationBusinessName>
          <BusinessNameLine1Txt>CLIO &amp; ASSOCIATES</BusinessNameLine1Txt>
        </OrganizationBusinessName>
        <USAddress>
          <AddressLine1Txt>614 GRAVIER ST</AddressLine1Txt>
          <CityNm>NEW ORLEANS</CityNm>
          <StateAbbreviationCd>LA</StateAbbreviationCd>
          <ZIPCd>70130</ZIPCd>
        </USAddress>
        <ActivityTxt>CONSULTS ON SOLICITATION STRATEGIES</ActivityTxt>
        <FundraiserControlOfFundsInd>0</FundraiserControlOfFundsInd>
        <GrossReceiptsAmt>0</GrossReceiptsAmt>
        <RetainedByContractorAmt>31339</RetainedByContractorAmt>
        <NetToOrganizationAmt>-31339</NetToOrganizationAmt>
      </FundraiserActivityInfoGrp>
      <TotalRetainedByContractorsAmt>31339</TotalRetainedByContractorsAmt>
      <TotalNetToOrganizationAmt>-31339</TotalNetToOrganizationAmt>
      <FundraisingEventInformationGrp>
        <Event1Nm>ANNUAL LUNCHEON</Event1Nm>
        <GrossReceiptsEvent1Amt>223108</GrossReceiptsEvent1Amt>
        <CharitableContriEvent1Amt>185232</CharitableContriEvent1Amt>
        <GrossRevenueEvent1Amt>37876</GrossRevenueEvent1Amt>
        <FoodAndBeverageEvent1Amt>44513</FoodAndBeverageEvent1Amt>
        <OtherDirectExpensesEvent1Amt>46664</OtherDirectExpensesEvent1Amt>
        <GrossReceiptsTotalAmt>223108</GrossReceiptsTotalAmt>
        <CharitableContributionsTotAmt>185232</CharitableContributionsTotAmt>
        <GrossRevenueTotalEventsAmt>37876</GrossRevenueTotalEventsAmt>
        <FoodAndBeverageTotalEventsAmt>44513</FoodAndBeverageTotalEventsAmt>
        <OthDirectExpnssTotalEventsAmt>46664</OthDirectExpnssTotalEventsAmt>
        <DirectExpenseSummaryEventsAmt>91177</DirectExpenseSummaryEventsAmt>
        <NetIncomeSummaryAmt>-53301</NetIncomeSummaryAmt>
      </FundraisingEventInformationGrp>
    </IRS990ScheduleG>
    <IRS990ScheduleJ documentId="RetDoc1042400001">
      <WrittenEmploymentContractInd>X</WrittenEmploymentContractInd>
      <CompensationSurveyInd>X</CompensationSurveyInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>0</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>0</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>0</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>0</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>0</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>REBECCA MOWBRAY</PersonNm>
        <TitleTxt>PRESIDENT/CEO</TitleTxt>
        <BaseCompensationFilingOrgAmt>220733</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>10000</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>6922</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>13325</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>250980</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>PATRICK HERNANDEZ HAS A BUSINESS RELATIONSHIP WITH STEPHEN STUART. MERRITT LANE HAS A BUSINESS RELATIONSHIP WITH VANESSA CLAIBORNE. MERRITT LANE HAS A BUSINESS RELATIONSHIP WITH LAMAR G. VILLERE. RON MCCLAIN HAS A BUSINESS RELATIONSHIP WITH KHERI BILLY. RON MCCLAIN HAS A BUSINESS RELATIONSHIP WITH SYRITA STEIB.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 4</FormAndLineReferenceDesc>
        <ExplanationTxt>IN DECEMBER 2025, THE ORGANIZATION AMENDED ITS BYLAWS TO ADD AN ASSURANCE THAT AN IMMEDIATE PAST CHAIR SHALL BE ELIGIBLE TO BE RE-ELECTED AS A DIRECTOR FOR NEW A THREE-YEAR TERM. THE ORGANIZATION AMENDED ITS ARTICLES OF INCORPORATION TO CLARIFY THAT UPON THE CONCLUSION OF SUCH SERVICE AS A DIRECTOR, NOTWITHSTANDING ANY TERM LIMITATION PROVISIONS WITH RESPECT TO DIRECTORS SET FORTH IN THIS CHARTER OR THE CORPORATION'S BYLAWS, AN IMMEDIATE PAST CHAIR SHALL BE ELIGIBLE TO BE RE-ELECTED AS A DIRECTOR FOR A NEW TERM OF THREE YEARS TO SERVE WITH ALL OF THE PRIVILEGES OF THE OFFICE, AFTER WHICH STANDARD TERM LIMITATIONS WILL APPLY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>BGR HAS MEMBERS WHO PROVIDE FINANCIAL SUPPORT TO THE ORGANIZATION ALLOWING FOR THE ORGANIZATION TO PRESERVE ITS INDEPENDENCE. CONSISTENT WITH BGR'S BYLAWS, MEMBERS HAVE VOTING PRIVILEGES AT BGR'S ANNUAL MEETING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>BGR HAS MEMBERS WHO PROVIDE FINANCIAL SUPPORT TO THE ORGANIZATION ALLOWING FOR THE ORGANIZATION TO PRESERVE ITS INDEPENDENCE. CONSISTENT WITH BGR'S BYLAWS, MEMBERS HAVE VOTING PRIVILEGES AT BGR'S ANNUAL MEETING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>UPON COMPLETION OF THE FINAL DRAFT OF FORM 990 BY BGR'S AUDITORS,THE PRESIDENT &amp; CEO, REBECCA MOWBRAY, AND THE FINANCE COMMITTEE REVIEW THE FORM 990. COPIES ARE PROVIDED TO THE BOARD OF DIRECTORS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>BGR HAS A CONFLICT OF INTEREST POLICY AND AN ETHICS POLICY STATEMENT IT REQUIRES ALL BOARD MEMBERS AND EMPLOYEES TO REVIEW AND ACKNOWLEDGE BY SIGNATURE. THE CONFLICT OF INTEREST POLICY REQUIRES DISCLOSURE OF ANY FINANCIAL INTEREST IN THE SUBJECT MATTER OF BGR'S RESEARCH AND REPORTING OR IN THE OPERATION OF ITS ORGANIZATION. THE ETHICS POLICY STATEMENT REQUIRES RECUSAL FOR REAL OR PERCEIVED CONFLICTS OF INTEREST AND PRESCRIBES THE PROCESS BY WHICH CONFLICTS ARE DISCLOSED, REPORTED, AND ADJUDICATED BY THE APPROPRIATE OFFICER OR STAFF MEMBER. IT ALSO IMPOSES THE DUTY OF CONFIDENTIALITY FOR INTERNAL INFORMATION AND PROHIBITS EMPLOYEE POLITICAL ACTIVITY. BGR IMPLEMENTED THESE POLICIES TO SAFEGUARD THE CREDIBILITY, OBJECTIVITY, INDEPENDENCE AND NONPARTISAN CHARACTERISTICS OF ITS WORK PRODUCT AND TO ENSURE THE HIGHEST LEVELS OF INTEGRITY IN ITS POLICY ANALYSIS AND RECOMMENDATIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>INDEPENDENT MEMBERS OF THE EXECUTIVE COMMITTEE SET THE COMPENSATION OF THE PRESIDENT &amp; CEO BASED ON ADVICE OF THE EXECUTIVE COMMITTEE. THIS ADVICE IS BASED ON COMPARABLE DATA.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION PROVIDES ITS FORM 990 UPON REQUEST AND IT IS ALSO AVAILABLE ON THE BGR WEBSITE, WWW.BGR.ORG, AND ON WWW.GUIDESTAR.ORG.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>