﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2019v5.1" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2020-11-12T05:43:37-08:00</ReturnTs>
    <TaxPeriodEndDt>2020-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>MOSKOWITZ &amp; ASSOCIATES CPA's PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>660 WHITE PLAINS RD</AddressLine1Txt>
        <CityNm>TARRYTOWN</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>10591</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2019-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>061600601</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE ZOOM FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>ZOOM</BusinessNameControlTxt>
      <PhoneNum>2039899044</PhoneNum>
      <USAddress>
        <AddressLine1Txt>2 SOUND VIEW DRIVE</AddressLine1Txt>
        <CityNm>GREENWICH</CityNm>
        <StateAbbreviationCd>CT</StateAbbreviationCd>
        <ZIPCd>06830</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>SUSAN MANDEL</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>2039899044</PhoneNum>
      <SignatureDt>2020-11-06</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>STEVEN MOSKOWITZ CPA</PreparerPersonNm>
      <PTIN>P00166473</PTIN>
      <PhoneNum>9143666714</PhoneNum>
      <PreparationDt>2020-11-12</PreparationDt>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>100.33.116.66</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2020-11-12</IPDt>
      <IPTm>05:43:29</IPTm>
      <IPTimezoneCd>PS</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>E21524407A18CF0FB559F421F8B1CBBF5C4E5FE6</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>E21524407A18CF0FB559F421F8B1CBBF5C4E5FE6</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2019</TaxYr>
    <BuildTS>2021-04-22 16:20:28Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="11">
    <IRS990PF documentId="IRS990PF-01">
      <AddressChangeInd>X</AddressChangeInd>
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>999999999</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>78000000</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>1</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>1</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>6989561</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>6989561</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt referenceDocumentId="GainLossSaleOtherAssetsSch-01" referenceDocumentName="GainLossFromSaleOtherAssetsSchedule">88025274</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>103242815</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>88025274</CapGainNetIncmNetInvstIncmAmt>
        <GrossProfitRevAndExpnssAmt>0</GrossProfitRevAndExpnssAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSchedule2-01" referenceDocumentName="OtherIncomeSchedule2">40</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>40</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>173014876</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>95014876</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>188420</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>188420</CompOfcrDirTrstDsbrsChrtblAmt>
        <OthEmplSlrsWgsRevAndExpnssAmt>53269</OthEmplSlrsWgsRevAndExpnssAmt>
        <OthEmplSlrsWgsDsbrsChrtblAmt>53269</OthEmplSlrsWgsDsbrsChrtblAmt>
        <PensionEmplBnftRevAndExpnssAmt>17794</PensionEmplBnftRevAndExpnssAmt>
        <PensionEmplBnftDsbrsChrtblAmt>17794</PensionEmplBnftDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt>0</LegalFeesRevAndExpnssAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule-01" referenceDocumentName="AccountingFeesSchedule">21735</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>10868</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>10867</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OtherProfessionalFeesSchedu-01" referenceDocumentName="OtherProfessionalFeesSchedule">32639</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesDsbrsChrtblAmt>32639</OtherProfFeesDsbrsChrtblAmt>
        <InterestRevAndExpnssAmt>642245</InterestRevAndExpnssAmt>
        <InterestNetInvstIncmAmt>642245</InterestNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule-01" referenceDocumentName="TaxesSchedule">1128092</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>399428</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>8664</TaxesDsbrsChrtblAmt>
        <DeprecAndDpltnRevAndExpnssAmt referenceDocumentId="DepreciationSchedule-01" referenceDocumentName="DepreciationSchedule">10192</DeprecAndDpltnRevAndExpnssAmt>
        <OccupancyRevAndExpnssAmt>27816</OccupancyRevAndExpnssAmt>
        <OccupancyDsbrsChrtblAmt>27816</OccupancyDsbrsChrtblAmt>
        <TravConfMeetingRevAndExpnssAmt>1682</TravConfMeetingRevAndExpnssAmt>
        <TravConfMeetingDsbrsChrtblAmt>1682</TravConfMeetingDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule-01" referenceDocumentName="AmortizationSchedule OtherExpensesSchedule">695071</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>588245</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>106826</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>2818955</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>1640786</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>447977</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>68446000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>68446000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>71264955</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>1640786</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>68893977</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>101749921</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>93374090</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>215278</CashBOYAmt>
        <CashEOYAmt>270826</CashEOYAmt>
        <CashEOYFMVAmt>270826</CashEOYFMVAmt>
        <RcvblFromOfficersEOYAmt>0</RcvblFromOfficersEOYAmt>
        <OtherNtsAndLoansRcvblEOYAmt>0</OtherNtsAndLoansRcvblEOYAmt>
        <PrepaidExpensesEOYAmt>7199</PrepaidExpensesEOYAmt>
        <PrepaidExpensesEOYFMVAmt>7199</PrepaidExpensesEOYFMVAmt>
        <CorporateStockBOYAmt>601081386</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestmentsCorpStockSchedul-01" referenceDocumentName="InvestmentsCorpStockSchedule">702774123</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>999696639</CorporateStockEOYFMVAmt>
        <LandBldgInvestmentsEOYAmt>0</LandBldgInvestmentsEOYAmt>
        <OtherInvestmentsEOYAmt>0</OtherInvestmentsEOYAmt>
        <LandBldgEquipCostOrOtherBssAmt>108242</LandBldgEquipCostOrOtherBssAmt>
        <LandBldgEquipAccumDeprecAmt>82907</LandBldgEquipAccumDeprecAmt>
        <LandBOYAmt>34253</LandBOYAmt>
        <LandEOYAmt referenceDocumentId="LandEtcSchedule2-01" referenceDocumentName="LandEtcSchedule2">25335</LandEOYAmt>
        <LandEOYFMVAmt>25335</LandEOYFMVAmt>
        <OtherAssetsBOYAmt>0</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt>0</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt>0</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>601330917</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>703077483</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>999999999</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>3355</AccountsPayableBOYAmt>
        <LoansFromOfficersEOYAmt>0</LoansFromOfficersEOYAmt>
        <MortgagesAndNotesPayableEOYAmt>0</MortgagesAndNotesPayableEOYAmt>
        <OtherLiabilitiesBOYAmt>0</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt>0</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>3355</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>601327562</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>703077483</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>601327562</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>703077483</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>601330917</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>703077483</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>601327562</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>101749921</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>703077483</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>703077483</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>FROM PASS THRU ENTITY - LONE CASCADE</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-01-01</AcquiredDt>
          <SoldDt>2019-12-31</SoldDt>
          <GrossSalesPriceAmt>52468078</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>0</CostOrOtherBasisAmt>
          <GainOrLossAmt>52468078</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>52468078</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>FROM PASS THRU ENTITY - LONE REDWOOD</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-01-01</AcquiredDt>
          <SoldDt>2019-12-31</SoldDt>
          <GrossSalesPriceAmt>0</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>1627871</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1627871</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>-1627871</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>FROM PASS THRU ENTITY - LONE REDWOOD</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-01-01</AcquiredDt>
          <SoldDt>2019-12-31</SoldDt>
          <GrossSalesPriceAmt>13546737</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>0</CostOrOtherBasisAmt>
          <GainOrLossAmt>13546737</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>13546737</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1403.65 SHARES LONE CEDAR</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-01-01</AcquiredDt>
          <SoldDt>2019-12-31</SoldDt>
          <GrossSalesPriceAmt>19879000</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>7337165</CostOrOtherBasisAmt>
          <GainOrLossAmt>12541835</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>12541835</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2354.09 SHARES LONE CEDAR</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-01-01</AcquiredDt>
          <SoldDt>2019-12-31</SoldDt>
          <GrossSalesPriceAmt>17349000</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>6252505</CostOrOtherBasisAmt>
          <GainOrLossAmt>11096495</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>11096495</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>88025274</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>62149132</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>999999999</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.062149</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>58369095</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>999999999</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.058369</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>48358160</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>962825262</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.050225</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>48469604</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>916296446</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.052897</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>55551087</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>876110446</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.063406</DistributionYr5Rt>
        <TotalDistributionRt>0.287046</TotalDistributionRt>
        <AverageDistributionRt>0.057409</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>984999999</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>56547865</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>933741</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>57481606</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>68893977</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>933741</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>933741</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>933741</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>526563</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>600000</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>1126563</TotalPaymentsAndCreditsAmt>
        <OriginalReturnOverpaymentAmt>-1126563</OriginalReturnOverpaymentAmt>
        <OverpaymentAmt>192822</OverpaymentAmt>
        <AppliedToESTaxAmt>192822</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>CT</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>true</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>zoomfoundation.org</WebsiteAddressTxt>
        <IndividualWithBooksNm>CARMINA ROTH</IndividualWithBooksNm>
        <PhoneNum>2039899044</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>2 SOUND VIEW DRIVE</AddressLine1Txt>
          <CityNm>GREENWICH</CityNm>
          <StateAbbreviationCd>CT</StateAbbreviationCd>
          <ZIPCd>06830</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>true</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>STEPHEN F MANDEL JR</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O CUMMINGS LOCKWOOD PO BOX 2505</AddressLine1Txt>
            <CityNm>GREENWICH</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06836</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SUSAN Z MANDEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O CUMMINGS LOCKWOOD PO BOX 2505</AddressLine1Txt>
            <CityNm>GREENWICH</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06836</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompensationHighestPaidEmplGrp>
          <PersonNm>MEGHAN LOWNEY</PersonNm>
          <USAddress>
            <AddressLine1Txt>2 SOUND VIEW DRIVE</AddressLine1Txt>
            <CityNm>GREENWICH</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06830</ZIPCd>
          </USAddress>
          <TitleTxt>EXECUTIVE DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>172920</CompensationAmt>
          <EmployeeBenefitsAmt>15500</EmployeeBenefitsAmt>
          <ExpenseAccountAmt>0</ExpenseAccountAmt>
        </CompensationHighestPaidEmplGrp>
        <OtherEmployeePaidOver50kCnt>2</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>EDUCATION INITIATIVE - PROGRAM TO IMPROVE K-12 EDUCATION IN THE STATE OF CONNECTICUT TO ELIMINATE THE OPPORTUNITY GAP; WORKED WITH ORGANIZATIONS TO DEVELOP AND IMPLEMENT PLANS.</Description1Txt>
        <Expenses1Amt>51892</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>999677410</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>287151</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>35438</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>999999999</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>999999999</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>15000000</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>984999999</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>49250000</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>49250000</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>933741</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>933741</TotalTaxAmt>
        <DistributableBeforeAdjAmt>48316259</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>19966590</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>68282849</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>68282849</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>68893977</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>68893977</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>933741</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>67960236</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>68282849</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>0</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>0</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>0</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>0</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>21316118</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>21316118</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>68893977</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>46966731</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>21927246</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>21316118</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>21316118</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>21927246</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>21927246</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>0</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>0</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>0</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>0</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>21927246</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>STEPHEN F MANDEL JR</ContributingManagerNm>
        <ContributingManagerNm>SUSAN Z MANDEL</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FIDELITY CHARITABLE GIFT FUND</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 770001</AddressLine1Txt>
            <CityNm>CINCINNATI</CityNm>
            <StateAbbreviationCd>OH</StateAbbreviationCd>
            <ZIPCd>45277</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO FUNDCHARITABLEPROGRAMS</GrantOrContributionPurposeTxt>
          <Amt>68446000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>68446000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>1</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>6989561</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <OtherInvestmentIncmPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>40</ExclusionAmt>
        </OtherInvestmentIncmPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>88025274</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>95014876</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>95014876</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>8</LineNumberTxt>
          <RelationshipStatementTxt>N/A</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <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-01">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>STEPHEN AND SUSAN MANDEL</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>C/O CUMMINGS AND LOCKWOOD PO BOX 25</AddressLine1Txt>
          <CityNm>GREENWICH</CityNm>
          <StateAbbreviationCd>CT</StateAbbreviationCd>
          <ZIPCd>06836</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>78000000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule-01">
      <AccountingFeesDetail>
        <CategoryTxt>STEVEN MOSKOWITZ CPA PC ACCOUNTING AND TAX SERVICES</CategoryTxt>
        <Amt>19985</Amt>
        <NetInvestmentIncomeAmt>9993</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>9992</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
      <AccountingFeesDetail>
        <CategoryTxt>CAROL MAVILLA BOOKKEEPING SERVICES</CategoryTxt>
        <Amt>1750</Amt>
        <NetInvestmentIncomeAmt>875</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>875</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="DepreciationSchedule-01">
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE AND FIXTURES</PropertyDesc>
        <AcquiredDt>2012-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>3449</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>3449</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.000000000000</LifeRt>
        <CurrentYearExpenseAmt>0</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE AND FIXTURES 2013</PropertyDesc>
        <AcquiredDt>2013-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>20171</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>19271</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.000000000000</LifeRt>
        <CurrentYearExpenseAmt>900</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE &amp; FIXTURES 2014</PropertyDesc>
        <AcquiredDt>2014-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>31040</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>26884</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.000000000000</LifeRt>
        <CurrentYearExpenseAmt>2771</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE AND FIXTURES 2015</PropertyDesc>
        <AcquiredDt>2015-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>17277</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>13422</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.000000000000</LifeRt>
        <CurrentYearExpenseAmt>1542</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE &amp; FIXTURES</PropertyDesc>
        <AcquiredDt>2017-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>10817</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>6086</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.000000000000</LifeRt>
        <CurrentYearExpenseAmt>1352</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE &amp; FIXTURES 2017</PropertyDesc>
        <AcquiredDt>2018-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>8953</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>3472</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.000000000000</LifeRt>
        <CurrentYearExpenseAmt>1566</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE &amp; FIXTURES 2018</PropertyDesc>
        <AcquiredDt>2019-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>7229</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1033</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.000000000000</LifeRt>
        <CurrentYearExpenseAmt>1770</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LEASEHOLD IMPROVEMENT</PropertyDesc>
        <AcquiredDt>2019-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>9041</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>106</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>39.000000000000</LifeRt>
        <CurrentYearExpenseAmt>232</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SOFTWARE</PropertyDesc>
        <AcquiredDt>2019-11-05</AcquiredDt>
        <CostOrOtherBasisAmt>266</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
        <CurrentYearExpenseAmt>59</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <GainLossSaleOtherAssetsSch documentId="GainLossSaleOtherAssetsSch-01">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>FROM PASS THRU ENTITY - LONE CASCADE</AssetDesc>
        <HowAcquiredTxt>Purchased</HowAcquiredTxt>
        <SoldDt>2019-12</SoldDt>
        <GrossSalesPriceAmt>52468078</GrossSalesPriceAmt>
        <TotalNetAmt>52468078</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>FROM PASS THRU ENTITY - LONE REDWOOD</AssetDesc>
        <HowAcquiredTxt>Purchased</HowAcquiredTxt>
        <SoldDt>2019-12</SoldDt>
        <GrossSalesPriceAmt>0</GrossSalesPriceAmt>
        <BasisAmt>1627871</BasisAmt>
        <TotalNetAmt>-1627871</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>FROM PASS THRU ENTITY - LONE REDWOOD</AssetDesc>
        <HowAcquiredTxt>Purchased</HowAcquiredTxt>
        <SoldDt>2019-12</SoldDt>
        <GrossSalesPriceAmt>13546737</GrossSalesPriceAmt>
        <TotalNetAmt>13546737</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>1403.65 SHARES LONE CEDAR</AssetDesc>
        <HowAcquiredTxt>Purchased</HowAcquiredTxt>
        <SoldDt>2019-12</SoldDt>
        <GrossSalesPriceAmt>19879000</GrossSalesPriceAmt>
        <BasisAmt>7337165</BasisAmt>
        <TotalNetAmt>12541835</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>2354.09 SHARES LONE CEDAR</AssetDesc>
        <HowAcquiredTxt>Purchased</HowAcquiredTxt>
        <SoldDt>2019-12</SoldDt>
        <GrossSalesPriceAmt>17349000</GrossSalesPriceAmt>
        <BasisAmt>6252505</BasisAmt>
        <TotalNetAmt>11096495</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedul-01">
      <InvestmentsCorporateStockGrp>
        <StockNm>SHARES OF LONE CEDAR LTD</StockNm>
        <EOYBookValueAmt>121729106</EOYBookValueAmt>
        <EOYFMVAmt>204190384</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LONE CASCADE LP</StockNm>
        <EOYBookValueAmt>461456925</EOYBookValueAmt>
        <EOYFMVAmt>659236381</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LONE REDWOOD LP</StockNm>
        <EOYBookValueAmt>77859244</EOYBookValueAmt>
        <EOYFMVAmt>86275669</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LONE REDWOOD LP</StockNm>
        <EOYBookValueAmt>41728848</EOYBookValueAmt>
        <EOYFMVAmt>49994205</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LandEtcSchedule2 documentId="LandEtcSchedule2-01">
      <LandEtcGrp>
        <CategoryOrItemTxt>FURNITURE AND FIXTURES</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>98935</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>82510</AccumulatedDepreciationAmt>
        <BookValueAmt>16425</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>LEASEHOLD IMPROVEMENTS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>9041</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>338</AccumulatedDepreciationAmt>
        <BookValueAmt>8703</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SOFTWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>266</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>59</AccumulatedDepreciationAmt>
        <BookValueAmt>207</BookValueAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule-01">
      <OtherExpensesScheduleGrp>
        <Desc>COMMUNICATIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>28736</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>28736</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>EDUCATION INITIATIVE</Desc>
        <RevenueAndExpensesPerBooksAmt>51892</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>51892</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OTHER OPERATIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>19549</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>19549</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PAYROLL PROCESSING FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>1865</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>1865</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PUBLIC RELATIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>3208</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>3208</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>1576</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>1576</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OTHER PORTFOLIO DEDUCTIONS FROM PASS THRU ENTITIES</Desc>
        <RevenueAndExpensesPerBooksAmt>281449</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>281449</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OTHER LOSSES FROM PASS THRU ENTITES</Desc>
        <RevenueAndExpensesPerBooksAmt>306796</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>306796</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2-01">
      <OtherIncomeDetail>
        <Desc>OTHER INCOME</Desc>
        <RevenueAndExpensesPerBooksAmt>40</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>40</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedu-01">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>VARIOUS OPERATIONAL SUPPORT</CategoryTxt>
        <Amt>22639</Amt>
        <DisbursementsCharitablePrpsAmt>22639</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>MCDOWELL JEWETT COMMUNICATIONS COMMUNICATIONS</CategoryTxt>
        <Amt>10000</Amt>
        <DisbursementsCharitablePrpsAmt>10000</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule-01">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES</CategoryTxt>
        <Amt>720000</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID</CategoryTxt>
        <Amt>399428</Amt>
        <NetInvestmentIncomeAmt>399428</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>PAYROLL TAXES</CategoryTxt>
        <Amt>8664</Amt>
        <DisbursementsCharitablePrpsAmt>8664</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>