﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2019v5.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2020-06-03T14:57:27-05:00</ReturnTs>
    <TaxPeriodEndDt>2019-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>223754856</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>UNTRACHT EARLY LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>325 COLUMBIA TURNPIKE SUITE 202</AddressLine1Txt>
        <CityNm>FLORHAM PARK</CityNm>
        <StateAbbreviationCd>NJ</StateAbbreviationCd>
        <ZIPCd>07932</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2019-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>270881014</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>COSTAS FAMILY FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>COST</BusinessNameControlTxt>
      <PhoneNum>2035525250</PhoneNum>
      <USAddress>
        <AddressLine1Txt>24 DOCKSIDE LANE NO 454</AddressLine1Txt>
        <CityNm>KEY LARGO</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>33037</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>JOHN COSTAS</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>2035525250</PhoneNum>
      <SignatureDt>2020-05-04</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>BARRY S KLEIMAN</PreparerPersonNm>
      <PTIN>P00161566</PTIN>
      <PhoneNum>9734086700</PhoneNum>
      <PreparationDt>2020-05-04</PreparationDt>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>65.51.35.2</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2020-05-04</IPDt>
      <IPTm>10:25:43</IPTm>
      <IPTimezoneCd>ED</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>EDB39D0ABD12B69992936AF3DAC6988F41178221</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>CB15DF97F7A802816A20C4D5C8B3E6C0CB6B1A5D</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2019</TaxYr>
    <BuildTS>2020-11-06 18:47:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2679159</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>4200</ContriRcvdRevAndExpnssAmt>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>79539</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>79539</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>286176</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>398221</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>286176</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>369915</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>365715</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">4200</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>2100</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>0</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">5343</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>1157</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">65</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>33</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>0</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>9608</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>3290</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>137300</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>137300</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>146908</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>3290</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>137300</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>223007</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>362425</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>161133</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>19287</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>19287</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>1069599</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">1309755</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>1912986</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>561911</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc2044400001">684166</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>746886</CorporateBondsEOYFMVAmt>
        <TotalAssetsBOYAmt>1792643</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>2013208</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2679159</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>0</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>0</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>1792643</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>2013208</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1792643</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>2013208</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1792643</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>2013208</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1792643</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>223007</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc2049700001">258</OtherIncreasesAmt>
        <SubtotalAmt>2015908</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="RetDoc2049800001">2700</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>2013208</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>JP MORGAN CHASE &amp; CO 05.239%</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2008-05-27</AcquiredDt>
          <SoldDt>2019-10-30</SoldDt>
          <GrossSalesPriceAmt>103000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>102745</CostOrOtherBasisAmt>
          <GainOrLossAmt>255</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>255</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BOSTON BEER CO INC CL A</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2001-02-12</AcquiredDt>
          <SoldDt>2019-04-22</SoldDt>
          <GrossSalesPriceAmt>270406</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>9300</CostOrOtherBasisAmt>
          <GainOrLossAmt>261106</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>261106</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAINS DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>24815</GrossSalesPriceAmt>
          <GainOrLossAmt>24815</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>24815</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>286176</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>0</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>125000</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>2556049</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.048904</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>123933</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>2406805</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.051493</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>110000</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>2258283</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.048710</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>112989</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>2390612</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.047264</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>123269</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>2412333</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.051099</DistributionYr5Rt>
        <TotalDistributionRt>0.247470</TotalDistributionRt>
        <AverageDistributionRt>0.049494</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>2556400</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>126526</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>3624</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>130150</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>137300</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>3624</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>3624</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>3624</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>2640</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>2640</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <TaxDueAmt>984</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>0</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>CT</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>JOHN COSTAS</IndividualWithBooksNm>
        <PhoneNum>2035525250</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>24 DOCKSIDE ROAD 454</AddressLine1Txt>
          <CityNm>KEY LARGO</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>33037</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOHN P COSTAS</PersonNm>
          <USAddress>
            <AddressLine1Txt>24 DOCKSIDE LANE 454</AddressLine1Txt>
            <CityNm>KEY LARGO</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33037</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>BARBARA S COSTAS</PersonNm>
          <USAddress>
            <AddressLine1Txt>24 DOCKSIDE LANE 454</AddressLine1Txt>
            <CityNm>KEY LARGO</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33037</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY AND TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>ASSIST &amp; CONTRIBUTE TO THE SUPPORT OF ORGANIZATIONS OF ANY AND EVERY KIND OF WHICH ARE ORGANIZED &amp; OPERATED FOR CHARITABLE, SCIENTIFIC, LITERARY &amp; EDUCATIONAL PURPOSES.</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>2538979</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>56351</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2595330</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2595330</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>38930</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2556400</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>127820</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>127820</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>3624</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>3624</TotalTaxAmt>
        <DistributableBeforeAdjAmt>124196</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>124196</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>124196</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>137300</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>137300</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>3624</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>133676</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>124196</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>6114</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr2Amt>5727</ExcessDistributionCyovYr2Amt>
        <TotalExcessDistributionCyovAmt>11841</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>137300</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>124196</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>13104</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>24945</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>6114</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>18831</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear2Amt>5727</ExcessFromYear2Amt>
        <ExcessFromCurrentYearAmt>13104</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>JOHN COSTAS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>24 DOCKSIDE LANE</AddressLine1Txt>
            <CityNm>KEY LARGO</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33037</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>2035525250</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>N/A</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>N/A</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>N/A</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>A BETTER CHANCE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>253 WEST 35TH STREET 6TH FLOOR</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10001</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) (3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PURPOSE OF THE ORGANIZATION.</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BEAT THE STREETS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>252 WEST 37TH STREET 400</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10018</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) (3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PURPOSE OF THE ORGANIZATION.</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CHILDREN'S SCHOLARSHIP FUND</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>8 WEST 38TH STREET 9TH FLOOR</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>100186229</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) (3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PURPOSE OF THE ORGANIZATION.</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE TEAK FELLOWSHIP</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>16 WEST 22ND STREET 3RD FLOOR</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10010</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) (3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PURPOSE OF THE ORGANIZATION.</GrantOrContributionPurposeTxt>
          <Amt>27300</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>WATERSIDE SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>770 PACIFIC STREET</AddressLine1Txt>
            <CityNm>STAMFORD</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06902</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) (3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PURPOSE OF THE ORGANIZATION.</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>DREAM CHARTER SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>232 EAST 103RD STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10019</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501 (C) (3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PURPOSE OF THE ORGANIZATION.</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>137300</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>79539</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>286176</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>365715</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>365715</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>4200</Amt>
        <NetInvestmentIncomeAmt>2100</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorporateBondsGrp>
        <BondNm>CORPORATE BONDS AND NOTES, PREFERRED SECURITIES</BondNm>
        <EOYBookValueAmt>684166</EOYBookValueAmt>
        <EOYFMVAmt>743029</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>ACCRUED INTEREST</BondNm>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>3857</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>COMMON STOCK</StockNm>
        <EOYBookValueAmt>62143</EOYBookValueAmt>
        <EOYFMVAmt>109032</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CLOSED END FUNDS &amp; EXCHANGED TRADED PRODUCTS</StockNm>
        <EOYBookValueAmt>310989</EOYBookValueAmt>
        <EOYFMVAmt>758302</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MUTUAL FUNDS</StockNm>
        <EOYBookValueAmt>724595</EOYBookValueAmt>
        <EOYFMVAmt>833624</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INVESTMENT INCOME RECEIVABLE</StockNm>
        <EOYBookValueAmt>3709</EOYBookValueAmt>
        <EOYFMVAmt>3709</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MONEY MARKET</StockNm>
        <EOYBookValueAmt>208319</EOYBookValueAmt>
        <EOYFMVAmt>208319</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>NONDEDUCTIBLE GRANTS PAID</Desc>
        <Amt>2700</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>BANK FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>65</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>33</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="RetDoc2049700001">
      <OtherIncreasesDetail>
        <Desc>NET CHANGE IN ACCRUED INVESTMENT INCOME</Desc>
        <Amt>258</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAX</CategoryTxt>
        <Amt>1157</Amt>
        <NetInvestmentIncomeAmt>1157</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>4186</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>