﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2025v4.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-06-22T17:34:25-04:00</ReturnTs>
    <TaxPeriodEndDt>2026-04-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>650688598</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>TURNER &amp; ASSOCIATES LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>7301 SW 57TH CT STE 420</AddressLine1Txt>
        <CityNm>SOUTH MIAMI</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>331435324</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2025-05-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>010567486</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE SAIN-ORR AND ROYAK-DEFOREST</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>STEADMAN FOUNDATION</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>SAIN</BusinessNameControlTxt>
      <PhoneNum>3054446121</PhoneNum>
      <USAddress>
        <AddressLine1Txt>2555 PONCE DE LEON BLVD SUITE 320</AddressLine1Txt>
        <CityNm>CORAL GABLES</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>33134</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>PAMELA ADMIRE</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>3054446121</PhoneNum>
      <SignatureDt>2026-05-30</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>DAVID M TURNER</PreparerPersonNm>
      <PTIN>P00698896</PTIN>
      <PhoneNum>3053770707</PhoneNum>
      <PreparationDt>2026-06-22</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2025</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990PF documentId="RetDoc6">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>1871116</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>47060</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>47060</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>47495</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>472726</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>47495</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>94555</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>94555</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>10896</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>3632</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>7264</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc1">5875</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>5875</AccountingFeesNetInvstIncmAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc4">12574</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>12574</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc5">2834</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>2834</TaxesNetInvstIncmAmt>
        <OccupancyRevAndExpnssAmt>1362</OccupancyRevAndExpnssAmt>
        <OccupancyNetInvstIncmAmt>1362</OccupancyNetInvstIncmAmt>
        <TravConfMeetingRevAndExpnssAmt>73</TravConfMeetingRevAndExpnssAmt>
        <TravConfMeetingNetInvstIncmAmt>73</TravConfMeetingNetInvstIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>33614</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>26350</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>7264</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>82500</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>82500</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>116114</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>26350</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>89764</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-21559</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>68205</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>23327</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>38231</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>38231</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>25094</USGovernmentObligationsBOYAmt>
        <CorporateStockBOYAmt>1410837</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc3">1419821</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>1737780</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>115828</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc2">95475</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>95105</CorporateBondsEOYFMVAmt>
        <TotalAssetsBOYAmt>1575086</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>1553527</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>1871116</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>1575086</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>1553527</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1575086</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>1553527</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1575086</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1553527</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1575086</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-21559</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>1553527</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>1553527</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MARKETABLE SECURITIES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>445261</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>425231</CostOrOtherBasisAmt>
          <GainOrLossAmt>20030</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>20030</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>47495</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>20030</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>948</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>948</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>948</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>2000</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>2000</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>1052</OverpaymentAmt>
        <AppliedToESTaxAmt>1052</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>FL</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>PAMELA ADMIRE</IndividualWithBooksNm>
        <PhoneNum>3054446121</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>2555 PONCE DE LEON BLVD 320</AddressLine1Txt>
          <AddressLine2Txt>SUITE 320</AddressLine2Txt>
          <CityNm>CORAL GABLES</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>33134</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>true</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>true</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOHN ADMIRE</PersonNm>
          <USAddress>
            <AddressLine1Txt>2555 PONCE DE LEON BLVD STE 320</AddressLine1Txt>
            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33134</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>3754</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>PAMELA ADMIRE</PersonNm>
          <USAddress>
            <AddressLine1Txt>2555 PONCE DE LEON BLVD STE 320</AddressLine1Txt>
            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33134</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>3.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>7142</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>1807743</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>46779</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>1854522</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>1854522</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>27818</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>1826704</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>91335</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>91335</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>948</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>948</TotalTaxAmt>
        <DistributableBeforeAdjAmt>90387</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>90387</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>90387</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>89764</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>89764</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>90387</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>78958</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>89764</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>78958</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>10806</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>79581</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ACTOR'S PLAYHOUSE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>280 MIRACLE MILE</AddressLine1Txt>
            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33134</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AYUDA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1990 K STREET NW</AddressLine1Txt>
            <CityNm>WASHINGTON</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20006</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CHRIST THE KING LUTHERAN CHURCH</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>11295 SW 57TH AVENUE</AddressLine1Txt>
            <CityNm>PINECREST</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33156</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MIAMI DIAPER BANK</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2699 W 79TH ST BAY 2</AddressLine1Txt>
            <CityNm>HIALEAH</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33016</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PROJECT YES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5275 SUNSET DRIVE</AddressLine1Txt>
            <CityNm>MIAMI</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33143</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SALVATION ARMY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1907 NW 38TH STREET</AddressLine1Txt>
            <CityNm>MIAMI</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33142</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ST MARK'S LUTHERAN CHURCH</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3930 S LE JEUNE ROAD</AddressLine1Txt>
            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33134</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SUNRISE COMMUNITY CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>9040 SW 72ND STREET</AddressLine1Txt>
            <CityNm>MIAMI</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33173</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE SOCIAL COG</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2925 AVENTURA BLVD</AddressLine1Txt>
            <AddressLine2Txt>STE 300</AddressLine2Txt>
            <CityNm>AVENTURA</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33180</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE VILLAGERS - MARY BRICKELL MOVIE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 14183</AddressLine1Txt>
            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33114</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>82500</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>47060</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>47495</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>94555</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>94555</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc1">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>5875</Amt>
        <NetInvestmentIncomeAmt>5875</NetInvestmentIncomeAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2">
      <InvestmentsCorporateBondsGrp>
        <BondNm>MARKETABLE SECURITIES</BondNm>
        <EOYBookValueAmt>95475</EOYBookValueAmt>
        <EOYFMVAmt>95105</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc3">
      <InvestmentsCorporateStockGrp>
        <StockNm>MARKETABLE SECURITIES</StockNm>
        <EOYBookValueAmt>1419821</EOYBookValueAmt>
        <EOYFMVAmt>1737780</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc4">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT ADVISORY FEES</CategoryTxt>
        <Amt>12574</Amt>
        <NetInvestmentIncomeAmt>12574</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc5">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>2834</Amt>
        <NetInvestmentIncomeAmt>2834</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>