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            <CityNm>PAGOSA SPRINGS</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>81147</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>ENDOWMENT FUND</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>275000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>22603</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>125123</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>245368</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>147726</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>245368</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>393094</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>
    <GainLossSaleOtherAssetsSch documentId="RetDoc2">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SECURITY SALES</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>2955926</GrossSalesPriceAmt>
        <BasisAmt>2724792</BasisAmt>
        <TotalNetAmt>231134</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SECURITY SALES</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>14234</GrossSalesPriceAmt>
        <TotalNetAmt>14234</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpStockSchedule documentId="RetDoc3">
      <InvestmentsCorporateStockGrp>
        <StockNm>MUTUAL FUNDS - MERRILL LYNCH</StockNm>
        <EOYBookValueAmt>6440448</EOYBookValueAmt>
        <EOYFMVAmt>6126950</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LandEtcSchedule2 documentId="RetDoc4">
      <LandEtcGrp>
        <CategoryOrItemTxt>ACCUMULATED DEPRECIATION</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>27475</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>27475</AccumulatedDepreciationAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherDecreasesSchedule documentId="RetDoc5">
      <OtherDecreasesDetail>
        <Desc>TAX EXPENSE</Desc>
        <Amt>1663</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc6">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT MANAGEMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>41977</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>20989</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>20989</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc7">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>ACCOUNTING</CategoryTxt>
        <Amt>1650</Amt>
        <NetInvestmentIncomeAmt>607</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>53</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>990</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>CONSULTING</CategoryTxt>
        <Amt>7080</Amt>
        <NetInvestmentIncomeAmt>2605</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>227</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4248</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc8">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>934</Amt>
        <NetInvestmentIncomeAmt>467</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>467</AdjustedNetIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
