﻿<?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="2023v5.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-11-11T09:32:25-06:00</ReturnTs>
    <TaxPeriodEndDt>2023-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>410746749</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>CLIFTONLARSONALLEN LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>150 S WARNER ROAD SUITE 310</AddressLine1Txt>
        <CityNm>KING OF PRUSSIA</CityNm>
        <StateAbbreviationCd>PA</StateAbbreviationCd>
        <ZIPCd>19406</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>236274709</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>SP MANDELL FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>SAMU</BusinessNameControlTxt>
      <PhoneNum>2159793400</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1800 JOHN F KENNEDY BLVD 404</AddressLine1Txt>
        <CityNm>PHILADELPHIA</CityNm>
        <StateAbbreviationCd>PA</StateAbbreviationCd>
        <ZIPCd>19103</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MORTON MANDELL</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>2159793400</PhoneNum>
      <SignatureDt>2024-11-04</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>1</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>JAMIE-LYN MARSHALL</PreparerPersonNm>
      <PTIN>P01234235</PTIN>
      <PhoneNum>2156433900</PhoneNum>
      <PreparationDt>2024-11-04</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2024-10-15 13:58:12Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="13">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>22285391</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>203</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>203</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>555384</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>555384</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>2402199</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>5881922</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>2402199</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc2001500001">147806</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>-833</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>3105592</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>2956953</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">64265</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>0</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">29696</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>20787</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>2970</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">85935</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>85935</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>0</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">40000</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>0</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <OccupancyRevAndExpnssAmt>181200</OccupancyRevAndExpnssAmt>
        <OccupancyNetInvstIncmAmt>90600</OccupancyNetInvstIncmAmt>
        <OccupancyDsbrsChrtblAmt>90600</OccupancyDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">41690</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>29462</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>598</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>442786</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>226784</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>94168</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>1375268</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>1339593</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>1818054</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>226784</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>1433761</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>1287538</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>2730169</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>104563</CashBOYAmt>
        <CashEOYAmt>197075</CashEOYAmt>
        <CashEOYFMVAmt>197075</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>1263144</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>791751</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>791751</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>1135629</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc2210400001">1642819</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>1642819</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>13039858</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">14101679</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>14101679</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>805341</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc2044400001">1910349</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>1910349</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>5609704</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">3641718</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>3641718</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>21958239</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>22285391</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>22285391</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>21958239</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>22285391</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>0</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>0</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>21958239</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>22285391</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>21958239</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>22285391</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>21958239</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>1287538</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>23245777</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="RetDoc2049800001">960386</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>22285391</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PUBLICLY TRADED SECURITIES</PropertyDesc>
          <GrossSalesPriceAmt>4879566</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2490230</CostOrOtherBasisAmt>
          <GainOrLossAmt>2389336</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>2389336</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>US TREASURY BILLS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>600000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>592813</CostOrOtherBasisAmt>
          <GainOrLossAmt>7187</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>7187</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>US TREASURY NOTES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>400000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>396680</CostOrOtherBasisAmt>
          <GainOrLossAmt>3320</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>3320</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAINS DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>2356</GrossSalesPriceAmt>
          <GainOrLossAmt>2356</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>2356</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>2402199</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>37949</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>37949</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>37949</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>24903</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>40000</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>64903</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <OverpaymentAmt>26954</OverpaymentAmt>
        <AppliedToESTaxAmt>26954</AppliedToESTaxAmt>
        <RefundAmt>0</RefundAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>1</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>1</Form990TFiledInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>PA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>MORTON MANDELL TRUSTEE</IndividualWithBooksNm>
        <PhoneNum>2159793400</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>1800 JOHN F KENNEDY BLVD STE 404</AddressLine1Txt>
          <CityNm>PHILADELPHIA</CityNm>
          <StateAbbreviationCd>PA</StateAbbreviationCd>
          <ZIPCd>19103</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MORTON MANDELL</PersonNm>
          <USAddress>
            <AddressLine1Txt>3779 COVENTRY LANE</AddressLine1Txt>
            <CityNm>BOCA RATON</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33496</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>GERALD MANDELL</PersonNm>
          <USAddress>
            <AddressLine1Txt>4625 N BORGATELLO LANE</AddressLine1Txt>
            <CityNm>PHOENIX</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85018</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JUDITH MANDELL</PersonNm>
          <USAddress>
            <AddressLine1Txt>2355 NW 53RD STREET</AddressLine1Txt>
            <CityNm>BOCA RATON</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33496</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MIRIAM MANDELL</PersonNm>
          <USAddress>
            <AddressLine1Txt>237 S 18TH STREET</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ROBIN S GREEN</PersonNm>
          <USAddress>
            <AddressLine1Txt>9608 KOUPLEA DRIVE</AddressLine1Txt>
            <CityNm>RALEIGH</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27615</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>1104 SERVICES CORP</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>1800 JOHN F KENNEDY BLVD</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>ADMINISTRATIVE, BOOKKEEPING &amp; OFFICE</ServiceTypeTxt>
          <CompensationAmt>181200</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>UBS FINANCIAL SERVICES INC</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>1735 MARKET STREET 35TH FLOOR</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVESTMENT SERVICES</ServiceTypeTxt>
          <CompensationAmt>85935</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>COZEN &amp; O'CONNOR</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>1650 MARKET STREET SUITE 2800</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>LEGAL SERVICES</ServiceTypeTxt>
          <CompensationAmt>64265</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>N/A</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
        <AllOtherProgramRltdInvstTotAmt referenceDocumentId="RetDoc2063500001">0</AllOtherProgramRltdInvstTotAmt>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>21208387</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>487216</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>88341</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>21783944</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>21783944</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>326759</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>21457185</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>1072859</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>1072859</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>37949</TaxBasedOnInvestmentIncomeAmt>
        <IncomeTaxAmt>29528</IncomeTaxAmt>
        <TotalTaxAmt>67477</TotalTaxAmt>
        <DistributableBeforeAdjAmt>1005382</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>1005382</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>1005382</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>1433761</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>1433761</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>1005382</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>885431</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>1007619</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>689430</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>442292</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>487391</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>3512163</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>1433761</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>1005382</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>428379</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>3940542</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>885431</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>3055111</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>1007619</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>689430</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>442292</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>487391</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>428379</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>MORTON MANDELL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1800 JOHN F KENNEDY BLVD STE 404</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>2159793400</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>LETTER</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NONE</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>FOUNDATION MAKES GRANTS TO PUBLIC CHARITIES. NO GRANTS ARE MADE TO PRIVATE OR OPERATING FOUNDATIONS OR TO INDIVIDUALS.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AVAILABLE UPON REQUEST</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>VARIOUS</AddressLine1Txt>
            <CityNm>VARIOUS</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>VARIOUS</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>VARIOUS</GrantOrContributionPurposeTxt>
          <Amt>1375268</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>1375268</TotalGrantOrContriPdDurYrAmt>
        <GrantOrContriApprvForFutGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AVAILABLE UPON REQUEST</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>VARIOUS</AddressLine1Txt>
            <CityNm>VARIOUS</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>VARIOUS</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>VARIOUS</GrantOrContributionPurposeTxt>
          <Amt>1249650</Amt>
        </GrantOrContriApprvForFutGrp>
        <TotalGrantOrContriApprvFutAmt>1249650</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>203</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>555384</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <OtherInvestmentIncomeGrp>
          <BusinessCd>900001</BusinessCd>
          <UnrelatedBusinessTaxblIncmAmt>147806</UnrelatedBusinessTaxblIncmAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>2402199</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>147806</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>2957786</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>3105592</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>29696</Amt>
        <NetInvestmentIncomeAmt>20787</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2970</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <AllOthProgRltdInvestmentsSch documentId="RetDoc2063500001">
      <AllOtherProgramRelatedInvstGrp>
        <Desc>N/A</Desc>
        <Amt>0</Amt>
      </AllOtherProgramRelatedInvstGrp>
    </AllOthProgRltdInvestmentsSch>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorporateBondsGrp>
        <BondNm>ABBVIE, INC</BondNm>
        <EOYBookValueAmt>97685</EOYBookValueAmt>
        <EOYFMVAmt>97685</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>AMERISOURCE BERGERN CORP</BondNm>
        <EOYBookValueAmt>97911</EOYBookValueAmt>
        <EOYFMVAmt>97911</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>AUTOZONE INC.</BondNm>
        <EOYBookValueAmt>100668</EOYBookValueAmt>
        <EOYFMVAmt>100668</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>NEXERA ENERGY CAPITAL</BondNm>
        <EOYBookValueAmt>99385</EOYBookValueAmt>
        <EOYFMVAmt>99385</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>QUEST DIAGNOSTICS</BondNm>
        <EOYBookValueAmt>99640</EOYBookValueAmt>
        <EOYFMVAmt>99640</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>STATE OF ISRAEL BOND</BondNm>
        <EOYBookValueAmt>73800</EOYBookValueAmt>
        <EOYFMVAmt>73800</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>NUCOR CORP NTS</BondNm>
        <EOYBookValueAmt>98408</EOYBookValueAmt>
        <EOYFMVAmt>98408</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>UNITED TECHNOLOGIES CORP</BondNm>
        <EOYBookValueAmt>98574</EOYBookValueAmt>
        <EOYFMVAmt>98574</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>LOWES COS INC</BondNm>
        <EOYBookValueAmt>198514</EOYBookValueAmt>
        <EOYFMVAmt>198514</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>DOWDUPONT INC</BondNm>
        <EOYBookValueAmt>99281</EOYBookValueAmt>
        <EOYFMVAmt>99281</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>CONSTELLATION BRANDS INC</BondNm>
        <EOYBookValueAmt>199320</EOYBookValueAmt>
        <EOYFMVAmt>199320</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>GILEAD SCIENCES</BondNm>
        <EOYBookValueAmt>195752</EOYBookValueAmt>
        <EOYFMVAmt>195752</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>FORTIVE CORP</BondNm>
        <EOYBookValueAmt>95751</EOYBookValueAmt>
        <EOYFMVAmt>95751</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>BANK OF AMERICA NA</BondNm>
        <EOYBookValueAmt>254722</EOYBookValueAmt>
        <EOYFMVAmt>254722</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>BOEING CO</BondNm>
        <EOYBookValueAmt>100938</EOYBookValueAmt>
        <EOYFMVAmt>100938</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>ABBOTT LABS</StockNm>
        <EOYBookValueAmt>550350</EOYBookValueAmt>
        <EOYFMVAmt>550350</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ABBVIE, INC</StockNm>
        <EOYBookValueAmt>681868</EOYBookValueAmt>
        <EOYFMVAmt>681868</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AIR PROD &amp; CHEMICAL INC.</StockNm>
        <EOYBookValueAmt>328560</EOYBookValueAmt>
        <EOYFMVAmt>328560</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ALPHABET, INC</StockNm>
        <EOYBookValueAmt>1127440</EOYBookValueAmt>
        <EOYFMVAmt>1127440</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AMAZON.COM INC</StockNm>
        <EOYBookValueAmt>379850</EOYBookValueAmt>
        <EOYFMVAmt>379850</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AMERICAN REALTY TRUST REIT</StockNm>
        <EOYBookValueAmt>389856</EOYBookValueAmt>
        <EOYFMVAmt>389856</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>APPLE, INC</StockNm>
        <EOYBookValueAmt>1049288</EOYBookValueAmt>
        <EOYFMVAmt>1049288</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ARCHER DANIELS MIDLAND CO</StockNm>
        <EOYBookValueAmt>505540</EOYBookValueAmt>
        <EOYFMVAmt>505540</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BRISTOL MYERS SQUIBB</StockNm>
        <EOYBookValueAmt>513100</EOYBookValueAmt>
        <EOYFMVAmt>513100</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CISCO SYSTEMS INC</StockNm>
        <EOYBookValueAmt>808320</EOYBookValueAmt>
        <EOYFMVAmt>808320</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CVS CAREMARK CORP</StockNm>
        <EOYBookValueAmt>631680</EOYBookValueAmt>
        <EOYFMVAmt>631680</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HOMEBANCSHARES (FORMERLY STONEGATE BANK)</StockNm>
        <EOYBookValueAmt>316448</EOYBookValueAmt>
        <EOYFMVAmt>316448</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>JP MORGAN CHASE &amp; CO</StockNm>
        <EOYBookValueAmt>510300</EOYBookValueAmt>
        <EOYFMVAmt>510300</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MCDONALDS CORP</StockNm>
        <EOYBookValueAmt>741275</EOYBookValueAmt>
        <EOYFMVAmt>741275</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MERCK &amp; CO</StockNm>
        <EOYBookValueAmt>724983</EOYBookValueAmt>
        <EOYFMVAmt>724983</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>METLIFE</StockNm>
        <EOYBookValueAmt>595170</EOYBookValueAmt>
        <EOYFMVAmt>595170</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ORACLE CORP</StockNm>
        <EOYBookValueAmt>237218</EOYBookValueAmt>
        <EOYFMVAmt>237218</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>RAYTHEON TECHNOLOGIES CORP</StockNm>
        <EOYBookValueAmt>588980</EOYBookValueAmt>
        <EOYFMVAmt>588980</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SYSCO CORP</StockNm>
        <EOYBookValueAmt>409527</EOYBookValueAmt>
        <EOYFMVAmt>409527</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WASTE MGMT INC NEW</StockNm>
        <EOYBookValueAmt>497003</EOYBookValueAmt>
        <EOYFMVAmt>497003</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WP CAREY INC REIT</StockNm>
        <EOYBookValueAmt>567088</EOYBookValueAmt>
        <EOYFMVAmt>567088</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CITIZENX FINANCIAL GROUP INC</StockNm>
        <EOYBookValueAmt>331400</EOYBookValueAmt>
        <EOYFMVAmt>331400</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>EATON CORP PLC</StockNm>
        <EOYBookValueAmt>445517</EOYBookValueAmt>
        <EOYFMVAmt>445517</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ONEOK INC</StockNm>
        <EOYBookValueAmt>1170918</EOYBookValueAmt>
        <EOYFMVAmt>1170918</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc2210400001">
      <USGovtObligationsBookVlEOYAmt>1642819</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>1642819</USGovtObligationsEOYFMVAmt>
      <StateLocalSecBookVlEOYAmt>0</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>0</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ENTERPRISE PRODUCTS PARTNERS LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>1054000</BookValueAmt>
        <EOYFMVAmt>1054000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LLR EQUITY PARTNERS III LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>7065</BookValueAmt>
        <EOYFMVAmt>7065</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>QUAKER BIOVENTURES II LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>1218</BookValueAmt>
        <EOYFMVAmt>1218</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SPDR S&amp;P INTL DIVID ETF</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>711000</BookValueAmt>
        <EOYFMVAmt>711000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD SHORT TERM BOND FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>298837</BookValueAmt>
        <EOYFMVAmt>298837</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD SHORT TERM CORPORATE BOND FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>700198</BookValueAmt>
        <EOYFMVAmt>700198</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD TOTAL INTL STOCK INDEX FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>869400</BookValueAmt>
        <EOYFMVAmt>869400</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>64265</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>UNREALIZED LOSS ON INVESTMENTS</Desc>
        <Amt>960386</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>8444</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>2846</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>598</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>6630</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ACCRUED INTEREST PAID ON SECURITIES</Desc>
        <RevenueAndExpensesPerBooksAmt>26616</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>26616</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>PARTNERSHIP INCOME</Desc>
        <RevenueAndExpensesPerBooksAmt>147806</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>147806</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>147806</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>PARTNERSHIP INCOME SUBJECT TO UNRELATED BUSINESS INCOME</Desc>
        <RevenueAndExpensesPerBooksAmt>0</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-148639</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT MGMT FEE</CategoryTxt>
        <Amt>85935</Amt>
        <NetInvestmentIncomeAmt>85935</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE TAX EXPENSE</CategoryTxt>
        <Amt>40000</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>