<?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="2020v4.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2021-11-15T14:14:08-06:00</ReturnTs>
    <TaxPeriodEndDt>2020-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>MILLER COOPER &amp; CO LTD</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1751 Lake Cook Road Suite 400</AddressLine1Txt>
        <CityNm>Deerfield</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>60015</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2020-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>651164639</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>The Polsky Foundation</BusinessNameLine1Txt>
      </BusinessName>
      <InCareOfNm>% MICHAEL P POLSKY</InCareOfNm>
      <BusinessNameControlTxt>POLS</BusinessNameControlTxt>
      <PhoneNum>3125821405</PhoneNum>
      <USAddress>
        <AddressLine1Txt>One South Wacker Drive Suite 1810</AddressLine1Txt>
        <CityNm>Chicago</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>60606</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MICHAEL POLSKY</PersonNm>
      <PersonTitleTxt>OFFICER</PersonTitleTxt>
      <PhoneNum>3125821402</PhoneNum>
      <SignatureDt>2021-11-04</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>MICHAEL</PersonFirstNm>
        <PersonLastNm>POLSKY</PersonLastNm>
      </PersonFullName>
      <SSN>XXX-XX-XXXX</SSN>
    </SigningOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>Daphne McCoy</PreparerPersonNm>
      <PTIN>P00223571</PTIN>
      <PhoneNum>8472055000</PhoneNum>
    </PreparerPersonGrp>
    <AdditionalFilerInformation>
      <TrustedCustomerGrp>
        <TrustedCustomerCd>2</TrustedCustomerCd>
      </TrustedCustomerGrp>
    </AdditionalFilerInformation>
    <TaxYr>2020</TaxYr>
    <BuildTS>2022-09-23 18:48:47Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="12">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>21378246</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>18078550</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>19707</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>19707</InterestOnSavNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>1124912</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>14257712</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>1105003</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSch2">-2593914</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>-2504921</OtherIncomeNetInvstIncmAmt>
        <OtherIncomeAdjNetIncmAmt>0</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>16629255</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>-1380211</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>0</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="LegalFeesSch">389</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>389</LegalFeesNetInvstIncmAmt>
        <LegalFeesAdjNetIncmAmt>0</LegalFeesAdjNetIncmAmt>
        <LegalFeesDsbrsChrtblAmt>0</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSch">10200</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>10200</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>0</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>0</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OthProfFeesSch">6250</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>6250</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesAdjNetIncmAmt>0</OtherProfFeesAdjNetIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>0</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">26145</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>5149</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>0</TaxesAdjNetIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSch">8985</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>8985</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesAdjNetIncmAmt>0</OtherExpensesAdjNetIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>0</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>51969</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>30973</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>0</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>5327375</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>5327375</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>5379344</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>30973</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>0</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>5327375</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>11249911</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>31993</CashBOYAmt>
        <CashEOYAmt>69236</CashEOYAmt>
        <CashEOYFMVAmt>69236</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>540225</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>912668</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>912668</SavAndTempCashInvstEOYFMVAmt>
        <OtherInvestmentsBOYAmt>9382622</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvOtherSch2">20396342</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>20396342</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>9954840</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>21378246</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>21378246</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>0</AccountsPayableBOYAmt>
        <AccountsPayableEOYAmt>5226</AccountsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>5226</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>9954840</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>21373020</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>9954840</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>21373020</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>9954840</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>21378246</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>9954840</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>11249911</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="OtherIncreasesSch">168269</OtherIncreasesAmt>
        <SubtotalAmt>21373020</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>21373020</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PUBLICLY TRADED SECURITIES</PropertyDesc>
          <GrossSalesPriceAmt>14257712</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>13132800</CostOrOtherBasisAmt>
          <GainOrLossAmt>1124912</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1124912</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>UNRECOVERED TAX CAPITAL AT LIQUIDATION</PropertyDesc>
          <GrossSalesPriceAmt>0</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>19909</CostOrOtherBasisAmt>
          <GainOrLossAmt>-19909</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-19909</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>1105003</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>0</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>0</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>0</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>8972</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <TotalPaymentsAndCreditsAmt>8972</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>8972</OverpaymentAmt>
        <AppliedToESTaxAmt>8972</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd referenceDocumentId="BinaryAttach">false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd referenceDocumentId="BinaryAttach">false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>true</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>true</Form990TFiledInd>
        <OrganizationDissolvedEtcInd referenceDocumentId="BinaryAttach">false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>IL</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd referenceDocumentId="SubsContributorsSch">true</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>MICHAEL P POLSKY</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>3125821402</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>ONE SOUTH WACKER DRIVE SUITE 1810</AddressLine1Txt>
          <CityNm>CHICAGO</CityNm>
          <StateAbbreviationCd>IL</StateAbbreviationCd>
          <ZIPCd>60606</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>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <UndistrIncmSect4942a2NotAppInd>false</UndistrIncmSect4942a2NotAppInd>
        <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>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MICHAEL P POLSKY</PersonNm>
          <USAddress>
            <AddressLine1Txt>One South Wacker Drive Suite 1810</AddressLine1Txt>
            <CityNm>Chicago</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60606</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT AND DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JONATHAN TAIBER</PersonNm>
          <USAddress>
            <AddressLine1Txt>One South Wacker Drive Suite 1810</AddressLine1Txt>
            <CityNm>Chicago</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60606</ZIPCd>
          </USAddress>
          <TitleTxt>TREASURER AND DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>DAVID CANMANN</PersonNm>
          <USAddress>
            <AddressLine1Txt>111 W WASHINGTON SUITE 823</AddressLine1Txt>
            <CityNm>CHICAGO</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60602</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY AND DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp />
      <SumOfProgramRelatedInvstGrp />
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>0</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>30163</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>21030568</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>21060731</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>21060731</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>315911</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>20744820</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>1037241</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>1037241</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>0</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>0</TotalTaxAmt>
        <DistributableBeforeAdjAmt>1037241</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>1037241</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>1037241</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>5327375</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>5327375</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>0</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>5327375</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>1037241</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2018</PriorYear1Yr>
        <PriorYear2Yr>2017</PriorYear2Yr>
        <PriorYear3Yr>2016</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr4Amt>915437</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>1520106</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>2881865</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>4884124</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>10201532</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>5327375</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>1037241</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>4290134</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>14491666</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>14491666</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>915437</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>1520106</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>2881865</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>4884124</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>4290134</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp></PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>American Committee for Weizmann Institute</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>180 N LaSalle Dr 3110</AddressLine1Txt>
            <CityNm>Chicago</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60601</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUND</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of Chicago</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5801 S Ellis Ave</AddressLine1Txt>
            <CityNm>Chicago</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60637</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUND</GrantOrContributionPurposeTxt>
          <Amt>2000000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Latin School of Chicago</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1531 N Dearborn Pkwy</AddressLine1Txt>
            <CityNm>Chicago</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60610</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUND</GrantOrContributionPurposeTxt>
          <Amt>134041</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Northwestern Memorial Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>251 E Huron St</AddressLine1Txt>
            <AddressLine2Txt>Suite 3-200</AddressLine2Txt>
            <CityNm>Chicago</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60611</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUND</GrantOrContributionPurposeTxt>
          <Amt>2000000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Illinois Holocaust Museum</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>9603 Woods Dr</AddressLine1Txt>
            <CityNm>Skokie</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60077</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUND</GrantOrContributionPurposeTxt>
          <Amt>600000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Voice Health Institute</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1 Bowdoin Sq 11th Fl</AddressLine1Txt>
            <CityNm>Boston</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>02114</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUND</GrantOrContributionPurposeTxt>
          <Amt>200000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Barack Obama Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5235 S Harper Ct Suite 1140</AddressLine1Txt>
            <CityNm>Chicago</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60615</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUND</GrantOrContributionPurposeTxt>
          <Amt>333334</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Vahatra USA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1400 S LAKE SHORE DR</AddressLine1Txt>
            <CityNm>Chicago</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>606052827</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL FUND</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>5327375</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>19707</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp />
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncmPartVIIGrp />
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>1124912</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <OtherRevenueDescribedGrp>
          <Desc>TACONIC CRE DISLOCATION FUND K-1</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>-283429</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>TCP DIRECT LENDING FUND VIII-L, LLC</Desc>
          <BusinessCd>523000</BusinessCd>
          <UnrelatedBusinessTaxblIncmAmt>46711</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>306083</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>TACONIC CRE DISLOCATION FUND II L.P.</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>116488</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>MALACHITE CAPTIAL PARTNERS LP</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>-3158230</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>VOLEON INVESTORS FUND LP</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>-10229</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>DAVIDSON KEMPER INSTITUTIONAL PARTNERS LP</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>419869</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>LONGFORD CAPITAL FUND</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>-31177</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>46711</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>-1496006</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>-1449295</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">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>MICHAEL P POLSKY</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>ONE SOUTH WACKER DRIVE SUITE 1810</AddressLine1Txt>
          <CityNm>CHICAGO</CityNm>
          <StateAbbreviationCd>IL</StateAbbreviationCd>
          <ZIPCd>60606</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>18078550</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>2</ContributorNum>
        <NoncashPropertyDesc>SEE ATTACHED</NoncashPropertyDesc>
        <FairMarketValueAmt>18078550</FairMarketValueAmt>
      </NonCashPropertyContributionGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="AccountingFeesSch">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>10200</Amt>
        <NetInvestmentIncomeAmt>10200</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PINEHURST INSTITUTION</CategoryOrItemTxt>
        <BookValueAmt>1471004</BookValueAmt>
        <EOYFMVAmt>1471004</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TACONIC CRE INVESTMENT FUNDS</CategoryOrItemTxt>
        <BookValueAmt>737797</BookValueAmt>
        <EOYFMVAmt>737797</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TCP DIRECT LENDING FUND VIII</CategoryOrItemTxt>
        <BookValueAmt>2240885</BookValueAmt>
        <EOYFMVAmt>2240885</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TACONIC CRE DISLOCATION FUND I</CategoryOrItemTxt>
        <BookValueAmt>1814977</BookValueAmt>
        <EOYFMVAmt>1814977</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MALACHITE CAPITAL PARTNERS</CategoryOrItemTxt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VOLEON INVESTORS FUND LP</CategoryOrItemTxt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BLACK ROCK DIRECT LENDING FEED</CategoryOrItemTxt>
        <BookValueAmt>515232</BookValueAmt>
        <EOYFMVAmt>515232</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DAVIDSON KEMPER</CategoryOrItemTxt>
        <BookValueAmt>7649868</BookValueAmt>
        <EOYFMVAmt>7649868</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LONGFORD CAPITAL FUND</CategoryOrItemTxt>
        <BookValueAmt>43823</BookValueAmt>
        <EOYFMVAmt>43823</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VOLEON COMPOSITION INT'L FUND</CategoryOrItemTxt>
        <BookValueAmt>977006</BookValueAmt>
        <EOYFMVAmt>977006</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BNY SECURITIES</CategoryOrItemTxt>
        <BookValueAmt>4945750</BookValueAmt>
        <EOYFMVAmt>4945750</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="LegalFeesSch">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>389</LegalFeesAmt>
        <NetInvestmentIncomeAmt>389</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>OTHER EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>8985</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>8985</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>TACONIC CRE DISLOCATION FUND K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>-283429</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>29189</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>TCP DIRECT LENDING FUND VIII-L, LLC</Desc>
        <RevenueAndExpensesPerBooksAmt>352794</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>128687</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>TACONIC CRE DISLOCATION FUND II L.P.</Desc>
        <RevenueAndExpensesPerBooksAmt>116488</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>116488</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>MALACHITE CAPITAL PARTNERS LP</Desc>
        <RevenueAndExpensesPerBooksAmt>-3158230</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-3158230</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>VOLEON INVESTORS FUND LP</Desc>
        <RevenueAndExpensesPerBooksAmt>-10229</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-10229</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>LONGFORD CAPITAL FUND III, LP</Desc>
        <RevenueAndExpensesPerBooksAmt>-31177</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-30120</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>DAVIDSON KEMPNER INSTITUTIONAL PARTNERS</Desc>
        <RevenueAndExpensesPerBooksAmt>419869</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>419294</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSch">
      <OtherIncreasesDetail>
        <Desc>BV TO FMV DIFFERENCE</Desc>
        <Amt>168269</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>CONSULTING</CategoryTxt>
        <Amt>6250</Amt>
        <NetInvestmentIncomeAmt>6250</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <SubstantialContributorsSch documentId="SubsContributorsSch">
      <SubstantialContributorDetail>
        <PersonNm>MICHAEL P POLSKY</PersonNm>
        <USAddress>
          <AddressLine1Txt>ONE SOUTH WACKER DRIVE SUITE 1810</AddressLine1Txt>
          <CityNm>CHICAGO</CityNm>
          <StateAbbreviationCd>IL</StateAbbreviationCd>
          <ZIPCd>60606</ZIPCd>
        </USAddress>
      </SubstantialContributorDetail>
    </SubstantialContributorsSch>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>STATE TAXES - IL</CategoryTxt>
        <Amt>5149</Amt>
        <NetInvestmentIncomeAmt>5149</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES</CategoryTxt>
        <Amt>20996</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
