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          <ServiceTypeTxt>FOOD AND FARM EDUCATION AND CONSULTING</ServiceTypeTxt>
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        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>FLOW CODES</BusinessNameLine1Txt>
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          <USAddress>
            <AddressLine1Txt>1618 VINTON</AddressLine1Txt>
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            <StateAbbreviationCd>TN</StateAbbreviationCd>
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          <ServiceTypeTxt>EDUCATION AND STRATEGY CONSULTING</ServiceTypeTxt>
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        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>28305555</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>38559700</AverageMonthlyCashBalancesAmt>
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        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
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        <DistributableBeforeDedAmt>3233888</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>3233888</DistributableAsAdjustedAmt>
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      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>17231737</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>17231737</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>3233888</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>15699056</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>17022304</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>6646768</ExcessDistributionCyovYr3Amt>
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        <QualifyingDistributionsAmt>17231737</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>3233888</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>13997849</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>93948168</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>15699056</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>78249112</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>17022304</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>6646768</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>21390556</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>19191635</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>13997849</ExcessFromCurrentYearAmt>
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      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CHRISTIAN COMMUNITY FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>4515 POPLAR AVENUE SUITE 324</AddressLine1Txt>
            <CityNm>MEMPHIS</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>38117</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SUPPORT OF COMMUNITY FDN ACTIVITIES</GrantOrContributionPurposeTxt>
          <Amt>2684914</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>COMMUNITY FOUNDATION OF GREATER MEMPHIS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1350 CONCOURSE AVE</AddressLine1Txt>
            <CityNm>MEMPHIS</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>38104</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SUPPORT OF COMMUNITY FDN ACTIVITIES</GrantOrContributionPurposeTxt>
          <Amt>14108965</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>16793879</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
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      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2131607</ExclusionAmt>
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        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>3315637</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>5447244</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>5447244</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>11570</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SOUTHEASTERN ASSET SMA - ASIA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>55396</BookValueAmt>
        <EOYFMVAmt>55396</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>KODAK PREFERRED</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>4028104</BookValueAmt>
        <EOYFMVAmt>4028104</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LONGLEAF SMALL CAP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>6842194</BookValueAmt>
        <EOYFMVAmt>6842194</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LONGLEAF GLOBAL</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>14801076</BookValueAmt>
        <EOYFMVAmt>14801076</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CASH IN BROKERAGE ACCOUNT</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>33192748</BookValueAmt>
        <EOYFMVAmt>33192748</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>3369</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <MortgagesAndNotesPayableSch documentId="RetDoc2203400001">
      <NotePayableGrp>
        <LenderNameGrp>
          <BusinessName>
            <BusinessNameLine1Txt>1ST HORIZON</BusinessNameLine1Txt>
          </BusinessName>
        </LenderNameGrp>
        <InsiderRelationshipTxt>NONE</InsiderRelationshipTxt>
        <LoanOriginalAmt>1500000</LoanOriginalAmt>
        <BalanceDueAmt>433521</BalanceDueAmt>
        <NoteDt>2016-06</NoteDt>
        <LoanMaturityDt>2024-12</LoanMaturityDt>
        <RepaymentTermsTxt>PRINCIPAL PAYMENT OF $10,417/ MONTH PLUS INTEREST</RepaymentTermsTxt>
        <InterestRt>2.000000000000</InterestRt>
        <SecurityProvidedBorrowerTxt>NONE</SecurityProvidedBorrowerTxt>
        <LoanPurposeTxt>PROGRAM-RELATED INVESTMENT</LoanPurposeTxt>
        <LenderConsiderationDesc>CASH</LenderConsiderationDesc>
      </NotePayableGrp>
      <NotePayableGrp>
        <LenderNameGrp>
          <BusinessName>
            <BusinessNameLine1Txt>1ST HORIZON</BusinessNameLine1Txt>
          </BusinessName>
        </LenderNameGrp>
        <InsiderRelationshipTxt>NONE</InsiderRelationshipTxt>
        <LoanOriginalAmt>350000</LoanOriginalAmt>
        <BalanceDueAmt>29097</BalanceDueAmt>
        <NoteDt>2018-10</NoteDt>
        <LoanMaturityDt>2026-02</LoanMaturityDt>
        <RepaymentTermsTxt>PRINCIPAL PAYMENT OF $4,861/MONTH PLUS INTEREST</RepaymentTermsTxt>
        <InterestRt>2.000000000000</InterestRt>
        <SecurityProvidedBorrowerTxt>NONE</SecurityProvidedBorrowerTxt>
        <LoanPurposeTxt>PROGRAM-RELATED INVESTMENT</LoanPurposeTxt>
        <LenderConsiderationDesc>CASH</LenderConsiderationDesc>
      </NotePayableGrp>
    </MortgagesAndNotesPayableSch>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>UNREALIZED GAIN</Desc>
        <Amt>163766</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
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      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>117276</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>5519</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>PROGRAM SERVICES</Desc>
        <RevenueAndExpensesPerBooksAmt>2325</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2325</DisbursementsCharitablePrpsAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>TELEPHONE AND DATA</Desc>
        <RevenueAndExpensesPerBooksAmt>15934</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>203532</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>PROGRAM RELATED PROFESSIONAL FEES</CategoryTxt>
        <Amt>394010</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>394010</DisbursementsCharitablePrpsAmt>
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      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT MANAGEMENT FEES</CategoryTxt>
        <Amt>302049</Amt>
        <NetInvestmentIncomeAmt>302049</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>PAYROLL TAXES</CategoryTxt>
        <Amt>54125</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>OTHER TAXES</CategoryTxt>
        <Amt>345</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>