﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2025v4.1" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-07-22T15:26:10-07:00</ReturnTs>
    <TaxPeriodEndDt>2025-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>931831433</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>RG Fowler &amp; Company PLLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>5460 South Quebec St Suite 230</AddressLine1Txt>
        <CityNm>Englewood</CityNm>
        <StateAbbreviationCd>CO</StateAbbreviationCd>
        <ZIPCd>80111</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2025-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>841455726</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>B &amp; E COLLINS FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>B&amp;EC</BusinessNameControlTxt>
      <PhoneNum>7202572896</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 150412</AddressLine1Txt>
        <CityNm>LAKEWOOD</CityNm>
        <StateAbbreviationCd>CO</StateAbbreviationCd>
        <ZIPCd>80215</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>TIMOTHY COLLINS</PersonNm>
      <PersonTitleTxt>VP and Treasurer</PersonTitleTxt>
      <SignatureDt>2026-07-20</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>JAY M SCHLIPMAN</PreparerPersonNm>
      <PTIN>P01286033</PTIN>
      <PhoneNum>3038430323</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2025</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation" softwareId="25022934" softwareVersionNum="2025v4.1">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>4639295</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>183780</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>9</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>9</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>110943</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>110943</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>247891</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>475300</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>247891</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSchedule2">8585</OtherIncomeRevAndExpnssAmt>
        <TotalRevAndExpnssAmt>551208</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>358843</TotalNetInvstIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">4275</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>4275</AccountingFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">9189</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>2989</TaxesNetInvstIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>13464</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>7264</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>230000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>230000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>243464</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>7264</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>230000</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>307744</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>351579</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>5095</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>17630</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>17630</SavAndTempCashInvstEOYFMVAmt>
        <OtherInvestmentsBOYAmt>3514008</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvestmentsOtherSchedule2">3809217</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>4621665</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>3519103</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>3826847</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>4639295</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>3519103</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>3826847</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>3519103</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>3826847</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>3519103</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>3826847</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>3519103</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>307744</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>3826847</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>3826847</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>6,411.44 DODGE &amp; COX INTL STOCK I</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2024-01-01</AcquiredDt>
          <SoldDt>2022-09-19</SoldDt>
          <GrossSalesPriceAmt>199970</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>137936</CostOrOtherBasisAmt>
          <GainOrLossAmt>62034</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>62034</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>574.55 ALLSPRING EMERGING MARKETS EQUITY INST</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-05-30</AcquiredDt>
          <SoldDt>2025-12-10</SoldDt>
          <GrossSalesPriceAmt>20000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>12886</CostOrOtherBasisAmt>
          <GainOrLossAmt>7114</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>7114</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>154.11 DODGE &amp; COX STOCK I</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2024-01-01</AcquiredDt>
          <SoldDt>2025-03-13</SoldDt>
          <GrossSalesPriceAmt>40000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>26308</CostOrOtherBasisAmt>
          <GainOrLossAmt>13692</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>13692</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1,824.73 HARRISON STREET REAT ESTATE I</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-03-29</AcquiredDt>
          <SoldDt>2025-10-24</SoldDt>
          <GrossSalesPriceAmt>43560</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>50279</CostOrOtherBasisAmt>
          <GainOrLossAmt>-6719</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-6719</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>Capital Gain Dividends</PropertyDesc>
          <GainOrLossAmt>171770</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>247891</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>4887</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>4887</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>4887</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>4964</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>4964</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="IRS2220">X</Form2220AttachedInd>
        <EsPenaltyAmt>8</EsPenaltyAmt>
        <OverpaymentAmt>69</OverpaymentAmt>
        <AppliedToESTaxAmt>69</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>CO</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>TIM COLLINS</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>7202572896</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>PO BOX 150412</AddressLine1Txt>
          <CityNm>LAKEWOOD</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
          <ZIPCd>80215</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <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>ROBERT M COLLINS</PersonNm>
          <USAddress>
            <AddressLine1Txt>1500 LITTLE RAVEN ST 509</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ELAINE COLLINS</PersonNm>
          <USAddress>
            <AddressLine1Txt>1500 LITTLE RAVEN ST 509</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>BENJAMIN SWEENY</PersonNm>
          <USAddress>
            <AddressLine1Txt>134 Cushing Ave Apt 3</AddressLine1Txt>
            <CityNm>Dorchester</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>02125</ZIPCd>
          </USAddress>
          <TitleTxt>Secretary</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SUSAN SWEENEY</PersonNm>
          <USAddress>
            <AddressLine1Txt>511 WELD COUNTY ROAD 28</AddressLine1Txt>
            <CityNm>LONGMONT</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80504</ZIPCd>
          </USAddress>
          <TitleTxt>Vice Chairman</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>TIMOTHY COLLINS</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 150412</AddressLine1Txt>
            <CityNm>LAKEWOOD</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80215</ZIPCd>
          </USAddress>
          <TitleTxt>Treasurer</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>4369201</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>39489</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>4408690</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>4408690</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>66130</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>4342560</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>217128</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>217128</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>4887</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>4887</TotalTaxAmt>
        <DistributableBeforeAdjAmt>212241</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>212241</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>212241</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>230000</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>230000</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>212241</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr2Amt>15246</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>10011</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>25257</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>230000</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>212241</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>17759</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>43016</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>43016</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear2Amt>15246</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>10011</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>17759</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>ELAINE COLLINS</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>INDEPENDENCE INSTITUTE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>727 EAST 16TH AVE</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80203</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED GRANT TO SUPPORT THE FUTURE LEADERS PROGRAM, STUDIO UPGRADES AND TABOR EDUCATIONAL SERIES</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>REASON FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>5737 MESMER AVE</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90230</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED GRANT FOR INTERNSHIP PROGRAM</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>TRUE THE VOTE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 3109 19128</AddressLine1Txt>
            <CityNm>HOUSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77253</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED GRANT TO FUND I-V3 VOTER REGISTRATION AND CLEAN ROLLS PROJECT</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ARTISTS FOR HUMANITY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>100 W SECOND ST</AddressLine1Txt>
            <CityNm>BOSTON</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>02127</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED GRANT FOR BOSTON YOUTH ARTS ENTERPRISE AND NEW YORK AFH NYC PILOT</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CATO INSTITUTE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1000 MASSACHUSETTS AVE NW</AddressLine1Txt>
            <CityNm>WASHINGTON</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20001</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED GRANT TO FUND SPHERE EDUCATION INITIATIVES PROGRAM</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>COLORADO LEARNING CTR FOR HUMAN ANA</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>503 TERRY ST</AddressLine1Txt>
            <CityNm>LONGMONT</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80502</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED GRANT TO FUND INTERNSHIP AND SCHOLARSHIP PROGRAMS, HISTOLOGY STUDY AND HOSA CONFERENCE</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>SAFE SHELTER OF ST VRAIN VALLEY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 231</AddressLine1Txt>
            <CityNm>LONGMONT</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80502</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED GRANT FOR OUTREACH OFFICE RENOVATION AND EMERGENCY SHELTER REPAIRS</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>DHARMA'S GARDEN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>4081 GARNET LN</AddressLine1Txt>
            <CityNm>BOULDER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80304</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED GRANT FOR REPLACEMENT OF WELL #1, PARENT-CHILD PLAY SPACE, AND COMMUNITY GATHERING AREA</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>AMERICAN INSTITUTE FOR ECONOMIC RES</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>250 DIVISION ST PO BOX 1000</AddressLine1Txt>
            <CityNm>GREAT BARRINGTON</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>01230</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED GRANT FOR AIER CONGRESSIONAL ECONOMIC EDUCATION SEMINAR</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>NATIONAL TAXPAYERS UNION FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>122 C ST NW STE 700</AddressLine1Txt>
            <CityNm>WASHINGTON</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20001</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>RESTRICTED EDUCATION FOR CAPITOL HILL ON EXTENDING 2017 TAX CUTS &amp; JOBS ACT</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>230000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>9</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>110943</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>247891</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>Non Dividend Distribution</Desc>
          <RelatedOrExemptFunctionIncmAmt>8585</RelatedOrExemptFunctionIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>358843</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>8585</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>367428</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <IRS990ScheduleB documentId="IRS990ScheduleB" softwareId="25022934" softwareVersionNum="2025v4.1">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>THE ELAINE COLLINS CLUT- JP MORGAN</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>500 STANTON CHRISTIANA RD</AddressLine1Txt>
          <CityNm>NEWARK</CityNm>
          <StateAbbreviationCd>DE</StateAbbreviationCd>
          <ZIPCd>19713</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>178780</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule" softwareId="25022934" softwareVersionNum="2025v4.1">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>4275</Amt>
        <NetInvestmentIncomeAmt>4275</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="25022934" softwareVersionNum="2025v4.1">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Dodge &amp; Cox Stock Fund</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>893548</BookValueAmt>
        <EOYFMVAmt>1161076</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>JHancocks Disciplined Value Mid Cap I</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>203112</BookValueAmt>
        <EOYFMVAmt>262718</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ALLSPRING EMERGING MARKET</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>263617</BookValueAmt>
        <EOYFMVAmt>367318</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Ironwood Institutional Multi-Strategy Fd</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>230608</BookValueAmt>
        <EOYFMVAmt>250917</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Diamond Hill Small Cap Fund Cl I</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>313523</BookValueAmt>
        <EOYFMVAmt>269928</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>HARRISON STREET REAL ESTATE I</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>180684</BookValueAmt>
        <EOYFMVAmt>155931</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Tortoise Energy Infrastructure Total Ret</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>87186</BookValueAmt>
        <EOYFMVAmt>157152</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Dodge &amp; Cox Stock International Fund</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>665376</BookValueAmt>
        <EOYFMVAmt>996769</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>HARRISON STREET REAL ASSETS FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>135236</BookValueAmt>
        <EOYFMVAmt>139763</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Cliffwater Corporate Len</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>359806</BookValueAmt>
        <EOYFMVAmt>351057</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Partner's Group Private Equity</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>324655</BookValueAmt>
        <EOYFMVAmt>350968</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GOLDMAN SACHS ABSOLUTE Return</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>23243</BookValueAmt>
        <EOYFMVAmt>25958</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BROOKFIELD INFRASTRUCTURE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>128623</BookValueAmt>
        <EOYFMVAmt>132110</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2" softwareId="25022934" softwareVersionNum="2025v4.1">
      <OtherIncomeDetail>
        <Desc>Non Dividend Distribution</Desc>
        <RevenueAndExpensesPerBooksAmt>8585</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="25022934" softwareVersionNum="2025v4.1">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAX PAID</CategoryTxt>
        <Amt>6200</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID</CategoryTxt>
        <Amt>2989</Amt>
        <NetInvestmentIncomeAmt>2989</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>