<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xsi:schemaLocation="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2021v4.2">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2022-08-01T13:44:53-05:00</ReturnTs>
    <TaxPeriodEndDt>2021-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>GF&amp;R LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>5619 DTC Parkway Ste 475</AddressLine1Txt>
        <CityNm>Greenwood Village</CityNm>
        <StateAbbreviationCd>CO</StateAbbreviationCd>
        <ZIPCd>80111</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2021-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>460933919</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>Rakowich Family Foundation</BusinessNameLine1Txt>
      </BusinessName>
      <InCareOfNm>% WALTER C RAKOWICH</InCareOfNm>
      <BusinessNameControlTxt>RAKO</BusinessNameControlTxt>
      <USAddress>
        <AddressLine1Txt>1700 Lincoln Street MAC C7300-498</AddressLine1Txt>
        <CityNm>Denver</CityNm>
        <StateAbbreviationCd>CO</StateAbbreviationCd>
        <ZIPCd>80203</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Walter Rakowich</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>7202661040</PhoneNum>
      <SignatureDt>2022-05-16</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>Walter</PersonFirstNm>
        <PersonLastNm>Rakowich</PersonLastNm>
      </PersonFullName>
      <SSN>XXX-XX-XXXX</SSN>
    </SigningOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>JASON REDMAN</PreparerPersonNm>
      <PTIN>P01078042</PTIN>
      <PhoneNum>7202661040</PhoneNum>
      <PreparationDt>2022-05-16</PreparationDt>
    </PreparerPersonGrp>
    <AdditionalFilerInformation>
      <TrustedCustomerGrp>
        <TrustedCustomerCd>2</TrustedCustomerCd>
      </TrustedCustomerGrp>
    </AdditionalFilerInformation>
    <TaxYr>2021</TaxYr>
    <BuildTS>2022-09-23 18:48:47Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2858078</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>0</ContriRcvdRevAndExpnssAmt>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>45450</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>45450</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>45450</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>480188</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>760903</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>497914</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSch2">1935</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>1935</OtherIncomeNetInvstIncmAmt>
        <OtherIncomeAdjNetIncmAmt>1935</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>527573</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>545299</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>47385</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OthProfFeesSch">2460</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>2460</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesAdjNetIncmAmt>2460</OtherProfFeesAdjNetIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">600</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>600</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>600</TaxesAdjNetIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSch">17994</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>17994</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesAdjNetIncmAmt>17994</OtherExpensesAdjNetIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>21054</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>21054</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>21054</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>390425</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>390425</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>411479</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>21054</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>21054</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>390425</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>116094</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>524245</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>26331</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>54003</CashBOYAmt>
        <CashEOYAmt>227944</CashEOYAmt>
        <CashEOYFMVAmt>227944</CashEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>686835</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt>662266</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>662266</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>1773190</CorporateStockBOYAmt>
        <CorporateStockEOYAmt>1780335</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>1780335</CorporateStockEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="OtherAssetsSch">167016</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="OtherAssetsSch">187533</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="OtherAssetsSch">187533</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>2681044</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>2858078</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2858078</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>2681044</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>2858078</CapitalStockEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>2681044</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>2858078</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>2681044</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>2858078</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>2681044</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>116094</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>60940</OtherIncreasesAmt>
        <SubtotalAmt>2858078</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>2858078</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLS FARGO #5500 STCG/L COVERED</PropertyDesc>
          <GrossSalesPriceAmt>58944</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>48026</CostOrOtherBasisAmt>
          <GainOrLossAmt>10918</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>10918</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLS FARGO #5500 LTCG/L COVERED</PropertyDesc>
          <GrossSalesPriceAmt>503331</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>223257</CostOrOtherBasisAmt>
          <GainOrLossAmt>280074</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>280074</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLS FARGO #5500 LTCG/L NONCOVERED</PropertyDesc>
          <GrossSalesPriceAmt>198628</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>9432</CostOrOtherBasisAmt>
          <GainOrLossAmt>189196</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>189196</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>17726</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>17726</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>17726</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>497914</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>7287</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>7287</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>7287</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>1604</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <TotalPaymentsAndCreditsAmt>1604</TotalPaymentsAndCreditsAmt>
        <TaxDueAmt>5683</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>false</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>WALTER C RAKOWICH</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>7202661040</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>5051 SOUTH LAFAYETTE LANE</AddressLine1Txt>
          <CityNm>ENGLEWOOD</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
          <ZIPCd>80113</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>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <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>WALTER C RAKOWICH</PersonNm>
          <USAddress>
            <AddressLine1Txt>5051 S LAFEYETTE LANE</AddressLine1Txt>
            <CityNm>ENGLEWOOD</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80113</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>GIFT TO COLORADO OPEN GOLF FOUNDATION</Description1Txt>
        <Expenses1Amt>75000</Expenses1Amt>
        <Description2Txt>GIFT TO COLORADO UPLIFT GPT THE PLEDGE PAYMENT</Description2Txt>
        <Expenses2Amt>100000</Expenses2Amt>
        <Description3Txt>GIFT TO PIVOT FOUNDATION</Description3Txt>
        <Expenses3Amt>100000</Expenses3Amt>
        <Description4Txt>GIFT TO THE GREENWOOD COMMUNITY CHURCH</Description4Txt>
        <Expenses4Amt>25000</Expenses4Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>NONE</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>1817188</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>43863</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>1861051</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>1861051</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>390425</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>1470626</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>73531</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>73531</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>7287</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>7287</TotalTaxAmt>
        <DistributableBeforeAdjAmt>66244</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>66244</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>66244</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>390425</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>390425</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>66244</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2019</PriorYear1Yr>
        <PriorYear2Yr>2018</PriorYear2Yr>
        <PriorYear3Yr>2017</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>31158</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>49567</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>291976</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>197273</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>127656</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>697630</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>390425</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>66244</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>324181</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>1021811</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>31158</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>990653</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>49567</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>291976</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>197273</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>127656</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>324181</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp></PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>NONE</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CEO Forum Inc</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>15475 Gleneagle Drive</AddressLine1Txt>
            <CityNm>Colorado Springs</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80921</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>unrestricted</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Alliance for Choice in Education - ACE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5251 DTC Parkway</AddressLine1Txt>
            <AddressLine2Txt>Suite 1150</AddressLine2Txt>
            <CityNm>Greenwood Village</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80111</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>unrestricted</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Pennsylvania State University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2583 Gateway Dr</AddressLine1Txt>
            <AddressLine2Txt>Suite 130</AddressLine2Txt>
            <CityNm>State College</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>16801</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Class Gift Campaign</GrantOrContributionPurposeTxt>
          <Amt>12500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Downing Street Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3680 S Downing St</AddressLine1Txt>
            <CityNm>Englewood</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80113</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>unrestricted</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Colorado Uplift</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>400 W 48th Avenue</AddressLine1Txt>
            <AddressLine2Txt>Suite 250</AddressLine2Txt>
            <CityNm>Denver</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80216</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Denver Scholarship Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>789 Sherman Street Suite 610</AddressLine1Txt>
            <CityNm>Denver</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80203</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Hope Haven Charitable Trust</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2417 N Perry Park Rd</AddressLine1Txt>
            <CityNm>Sedalia</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>801358533</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>student sponsorship</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Greenwood Community Church</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5600 E Belleview Ave</AddressLine1Txt>
            <CityNm>Greenwood Village</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80111</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>John Lester Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>105 Glenmoor Lane</AddressLine1Txt>
            <CityNm>Englewood</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80113</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>general operating</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Spaulding Leadership Institute</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1620 North Little Raven St Suite 7</AddressLine1Txt>
            <CityNm>Denver</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>scholarships</GrantOrContributionPurposeTxt>
          <Amt>14925</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Pivot Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1312 17th Street Suite 609</AddressLine1Txt>
            <CityNm>Denver</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>2021 Pivot Trustee</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Trustee Contribution</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Prostrate Cancer Education Council</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>7208 S Tucson Way Suite 230</AddressLine1Txt>
            <CityNm>Centennial</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80112</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>cancer golf event</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Colorado Open Golf Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>20309 E 48th Place</AddressLine1Txt>
            <CityNm>Denver</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80249</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>The Championship Team</GrantOrContributionPurposeTxt>
          <Amt>75000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Capital Sisters International Inc</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>227 Lamb Ln</AddressLine1Txt>
            <CityNm>Golden</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>804019424</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>Unrelated</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EOF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>390425</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp />
        <DividendsAndInterestFromSecDtl>
          <RelatedOrExemptFunctionIncmAmt>45450</RelatedOrExemptFunctionIncmAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncomeGrp />
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>480188</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <OtherRevenueDescribedGrp>
          <Desc>WELLS FARGO #66945500</Desc>
          <UnrelatedBusinessTaxblIncmAmt>1935</UnrelatedBusinessTaxblIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>1935</UnrelatedBusinessTaxblIncmAmt>
          <RelatedOrExemptFunctionIncmAmt>525638</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>527573</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>
    <CashDeemedCharitableExplnStmt documentId="CashDeemedCharStmt">
      <ShortExplanationTxt>During its history the Foundation has always distributed at least $174,504 in grants. As a result, the cash deemed for charitable activities has been raised to this amount.</ShortExplanationTxt>
    </CashDeemedCharitableExplnStmt>
    <DepreciationSchedule documentId="DepreciationSch" />
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssetsScheduleGrp>
        <Desc>REAL ASSETS</Desc>
        <BOYBookValueAmt>167016</BOYBookValueAmt>
        <EOYBookValueAmt>187533</EOYBookValueAmt>
        <EOYFMVAmt>187533</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>MANAGEMENT FEES WF #5500</Desc>
        <RevenueAndExpensesPerBooksAmt>17994</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>17994</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>17994</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>Wells Fargo #5500</Desc>
        <RevenueAndExpensesPerBooksAmt>1935</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1935</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1935</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>TAX PREPARATION FEES</CategoryTxt>
        <Amt>2460</Amt>
        <NetInvestmentIncomeAmt>2460</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>2460</AdjustedNetIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID</CategoryTxt>
        <Amt>600</Amt>
        <NetInvestmentIncomeAmt>600</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>600</AdjustedNetIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
