﻿<?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>2020-11-16T11:33:13-06:00</ReturnTs>
    <TaxPeriodEndDt>2019-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>111986323</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>MARCUM LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>201 E KENNEDY BLVD 1500</AddressLine1Txt>
        <CityNm>TAMPA</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>336025865</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2019-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>331093993</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>TWO RED ROSES FOUNDATION INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>TWOR</BusinessNameControlTxt>
      <PhoneNum>7279439900</PhoneNum>
      <USAddress>
        <AddressLine1Txt>4190 CORPORATE CT</AddressLine1Txt>
        <CityNm>PALM HARBOR</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>34683</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>RUDOLFO CICCARELLO</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>7279439900</PhoneNum>
      <SignatureDt>2020-10-28</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>TIMOTHY W DONOVAN CPA</PreparerPersonNm>
      <PTIN>P00043971</PTIN>
      <PhoneNum>8133974800</PhoneNum>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>47.19.127.190</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2020-10-28</IPDt>
      <IPTm>07:29:57</IPTm>
      <IPTimezoneCd>ED</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>DA39A3EE5E6B4B0D3255BFEF95601890AFD80709</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>90D288462B7AAEB6A0C55D53C0E62CB9025462C7</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2019</TaxYr>
    <BuildTS>2021-04-22 16:20:28Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="12">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>52062957</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>59235</ContriRcvdRevAndExpnssAmt>
        <DividendsRevAndExpnssAmt>143577</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>51702</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>143577</DividendsAdjNetIncmAmt>
        <CapGainNetIncmNetInvstIncmAmt>0</CapGainNetIncmNetInvstIncmAmt>
        <NetSTCapitalGainAdjNetIncmAmt>0</NetSTCapitalGainAdjNetIncmAmt>
        <GrossSalesLessRetAndAllwncAmt>12089</GrossSalesLessRetAndAllwncAmt>
        <CostOfGoodsSoldAmt>14211</CostOfGoodsSoldAmt>
        <GrossProfitRevAndExpnssAmt>-2122</GrossProfitRevAndExpnssAmt>
        <GrossProfitAdjNetIncmAmt>-2122</GrossProfitAdjNetIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc2001500001">73335</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>0</OtherIncomeNetInvstIncmAmt>
        <OtherIncomeAdjNetIncmAmt>73335</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>274025</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>51702</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>214790</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstAdjNetIncmAmt>0</CompOfcrDirTrstAdjNetIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">4100</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesAdjNetIncmAmt>0</LegalFeesAdjNetIncmAmt>
        <LegalFeesDsbrsChrtblAmt>4100</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">17380</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>4345</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>4345</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>13035</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">9920</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>0</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesAdjNetIncmAmt>0</OtherProfFeesAdjNetIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>9920</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">2398</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>0</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>0</TaxesAdjNetIncmAmt>
        <TaxesDsbrsChrtblAmt>2398</TaxesDsbrsChrtblAmt>
        <DeprecAndDpltnRevAndExpnssAmt>28753</DeprecAndDpltnRevAndExpnssAmt>
        <DeprecAndDpltnNetInvstIncmAmt>0</DeprecAndDpltnNetInvstIncmAmt>
        <DeprecAndDpltnAdjNetIncmAmt>0</DeprecAndDpltnAdjNetIncmAmt>
        <OccupancyRevAndExpnssAmt>75124</OccupancyRevAndExpnssAmt>
        <OccupancyNetInvstIncmAmt>0</OccupancyNetInvstIncmAmt>
        <OccupancyAdjNetIncmAmt>721</OccupancyAdjNetIncmAmt>
        <OccupancyDsbrsChrtblAmt>74403</OccupancyDsbrsChrtblAmt>
        <TravConfMeetingRevAndExpnssAmt>4270</TravConfMeetingRevAndExpnssAmt>
        <TravConfMeetingNetInvstIncmAmt>0</TravConfMeetingNetInvstIncmAmt>
        <TravConfMeetingAdjNetIncmAmt>0</TravConfMeetingAdjNetIncmAmt>
        <TravConfMeetingDsbrsChrtblAmt>4270</TravConfMeetingDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">28730</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>942</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesAdjNetIncmAmt>942</OtherExpensesAdjNetIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>27789</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>170675</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>5287</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>6008</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>135915</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>3963917</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>3963917</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>4134592</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>5287</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>6008</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>4099832</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-3860567</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>46415</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>208782</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>507448</CashBOYAmt>
        <CashEOYAmt>192368</CashEOYAmt>
        <CashEOYFMVAmt>192368</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>1004725</SavAndTempCashInvstBOYAmt>
        <InventoriesBOYAmt>358190</InventoriesBOYAmt>
        <InventoriesEOYAmt>343979</InventoriesEOYAmt>
        <InventoriesEOYFMVAmt>343979</InventoriesEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>5065696</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc2210400001">3245168</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>3525056</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>3791527</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">5048429</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>3290389</CorporateStockEOYFMVAmt>
        <LandBldgEquipCostOrOtherBssAmt>917248</LandBldgEquipCostOrOtherBssAmt>
        <LandBldgEquipAccumDeprecAmt>295807</LandBldgEquipAccumDeprecAmt>
        <LandBOYAmt>647719</LandBOYAmt>
        <LandEOYAmt>621441</LandEOYAmt>
        <LandEOYFMVAmt>621441</LandEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc2046600001">46026370</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc2046600001">44089724</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc2046600001">44089724</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>57401675</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>53541109</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>52062957</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>0</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>0</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>57401675</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>53541109</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>57401675</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>53541109</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>57401675</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>53541109</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>57401675</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-3860567</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc2049700001">1</OtherIncreasesAmt>
        <SubtotalAmt>53541109</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>53541109</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>0</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>12706659</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>15379848</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.826189</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>1580711</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>21943361</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.072036</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>130127</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>20592987</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.006319</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>2239770</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>15756926</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.142145</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>11748194</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>11762008</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.998826</DistributionYr5Rt>
        <TotalDistributionRt>2.045515</TotalDistributionRt>
        <AverageDistributionRt>0.409103</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>7911390</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>3236573</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>464</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>3237037</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>4867867</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>464</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>464</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>464</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>8489</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>8489</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <OverpaymentAmt>8025</OverpaymentAmt>
        <AppliedToESTaxAmt>8025</AppliedToESTaxAmt>
        <RefundAmt>0</RefundAmt>
      </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>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>FL</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>1</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>WWW.TWOREDROSES.COM</WebsiteAddressTxt>
        <IndividualWithBooksNm>RODOLFO CICCARELLO</IndividualWithBooksNm>
        <PhoneNum>7279439900</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>4190 CORPORATE CT</AddressLine1Txt>
          <CityNm>PALM HARBOR</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>34683</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>RODOLFO CICCARELLO</PersonNm>
          <USAddress>
            <AddressLine1Txt>1650 EAST LAKE DRIVE</AddressLine1Txt>
            <CityNm>TARPON SPRINGS</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34688</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>20.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>THOMAS MAGOULIS</PersonNm>
          <USAddress>
            <AddressLine1Txt>4190 CORPORATE COURT</AddressLine1Txt>
            <CityNm>PALM HARBOR</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34683</ZIPCd>
          </USAddress>
          <TitleTxt>EXECUTIVE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</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>THE FOUNDATION COLLECTS AND CONSERVES OBJECTS MADE INAMERICA BETWEEN APPROXIMATELY 1900 AND 1930 THAT REFLECT THESPIRIT OF REFORM IN DESIGN AND CRAFTSMANSHIP, GENERALLYACCEPTED AS THE ARTS &amp; CRAFTS MOVEMENT; COLLECTS BOOKS,CATALOGUES, PUBLICATIONS AND ARCHIVAL MATERIAL RELATED TOITS COLLECTION AND THE PERIOD; SUPPORTS RESEARCH PERTINENTTO ITS COLLECTION AND THE MOVEMENT; LENDS OBJECTS FROM ITSCOLLECTION FOR EXHIBITION BY OTHER INSTITUTIONS;DISSEMINATES THE RESULTS OF THAT RESEARCH THROUGHEXHIBITIONS, PUBLICATIONS, AND OTHER EDUCATIONAL ACTIVITIESAND PROGRAMS FOR THE GENERAL PUBLIC.</Description1Txt>
        <Expenses1Amt>4134592</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>7079184</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>852684</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>100000</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>8031868</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>8031868</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>120478</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>7911390</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>395570</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <Sect4942j3j5FndtnAndFrgnOrgInd>X</Sect4942j3j5FndtnAndFrgnOrgInd>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>4099832</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>768035</CharitableAssetsAcquisPaidAmt>
        <QualifyingDistributionsAmt>4867867</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>464</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>4867403</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <PrivateOperatingFoundationsGrp>
        <PrivateOperatingFndtnRulingDt>2005-07-11</PrivateOperatingFndtnRulingDt>
        <Section4942j3Ind>X</Section4942j3Ind>
        <LessorAdjNetIncmMinInvstRetGrp>
          <CurrentYearAmt>208782</CurrentYearAmt>
          <Year1Amt>361177</Year1Amt>
          <Year2Amt>373680</Year2Amt>
          <Year3Amt>1029649</Year3Amt>
          <TotalAmt>1973288</TotalAmt>
        </LessorAdjNetIncmMinInvstRetGrp>
        <Pct85LessorAdjIncmOrMinRetGrp>
          <CurrentYearAmt>177465</CurrentYearAmt>
          <Year1Amt>307000</Year1Amt>
          <Year2Amt>317628</Year2Amt>
          <Year3Amt>875202</Year3Amt>
          <TotalAmt>1677295</TotalAmt>
        </Pct85LessorAdjIncmOrMinRetGrp>
        <QualifyingDistributionsGrp>
          <CurrentYearAmt>4867867</CurrentYearAmt>
          <Year1Amt>12709337</Year1Amt>
          <Year2Amt>1580711</Year2Amt>
          <Year3Amt>130127</Year3Amt>
          <TotalAmt>19288042</TotalAmt>
        </QualifyingDistributionsGrp>
        <QualifyingDistriNotUsedDrtGrp>
          <CurrentYearAmt>0</CurrentYearAmt>
          <Year1Amt>0</Year1Amt>
          <Year2Amt>42182</Year2Amt>
          <Year3Amt>500</Year3Amt>
          <TotalAmt>42682</TotalAmt>
        </QualifyingDistriNotUsedDrtGrp>
        <QualifyingDistriMadeDrtGrp>
          <CurrentYearAmt>4867867</CurrentYearAmt>
          <Year1Amt>12709337</Year1Amt>
          <Year2Amt>1538529</Year2Amt>
          <Year3Amt>129627</Year3Amt>
          <TotalAmt>19245360</TotalAmt>
        </QualifyingDistriMadeDrtGrp>
        <TotalAssetsGrp>
          <CurrentYearAmt>53802308</CurrentYearAmt>
          <Year1Amt>56147157</Year1Amt>
          <Year2Amt>69006643</Year2Amt>
          <Year3Amt>70064617</Year3Amt>
          <TotalAmt>249020725</TotalAmt>
        </TotalAssetsGrp>
        <TotalAssetsSect4942j3BiGrp>
          <CurrentYearAmt>44955143</CurrentYearAmt>
          <Year1Amt>46868278</Year1Amt>
          <Year2Amt>47013513</Year2Amt>
          <Year3Amt>46911044</Year3Amt>
          <TotalAmt>185747978</TotalAmt>
        </TotalAssetsSect4942j3BiGrp>
        <TwoThirdsMinimumInvstRetGrp>
          <TotalAmt>0</TotalAmt>
        </TwoThirdsMinimumInvstRetGrp>
        <TotalSupportGrp>
          <TotalAmt>0</TotalAmt>
        </TotalSupportGrp>
        <PublicSupportType>
          <TotalAmt>0</TotalAmt>
        </PublicSupportType>
        <LargestSupportFromEOGrp>
          <TotalAmt>0</TotalAmt>
        </LargestSupportFromEOGrp>
        <GrossInvestmentIncomeGrp>
          <TotalAmt>0</TotalAmt>
        </GrossInvestmentIncomeGrp>
      </PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>RODOLFO CICCARELLO</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE AMERICAN CRAFTSMAN MUSEUM INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>4190 CORPORATE COURT</AddressLine1Txt>
            <CityNm>PALM HARBOR</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>34683</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>THE DONEE IS CONSTRUCTING A MUSEUM TO DISPLAY ART OBJECTS, PRIMARILY ART OBJECTS FROM THE ARTS &amp; CRAFTS MOVEMENT. THIS FOUNDATION DONATED CASH OF $1,200,000 TO FACILITATE THE CONSTRUCTION OF THE MUSEUM. IN ADDITION, THIS FOUNDATION DONATED $2,327,430 OF DECORATIVE ART OBJECTS THAT WILL DISPLAYED IN THE MUSEUM AND $436,487 OF ART BOOKS THAT WILL BE UTILIZED IN THE OPERATIONS OF THE MUSEUM.</GrantOrContributionPurposeTxt>
          <Amt>3963917</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>3963917</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>143577</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GrossProfitLossSlsOfInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>-2122</RelatedOrExemptFunctionIncmAmt>
        </GrossProfitLossSlsOfInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>REIMBURSEMENTS OF EXPENSES</Desc>
          <RelatedOrExemptFunctionIncmAmt>73335</RelatedOrExemptFunctionIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>143577</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>71213</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>214790</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>10</LineNumberTxt>
          <RelationshipStatementTxt>SALE OF ART BOOKS ABOUT THE FOUNDATION'S COLLECTION SERVE THE EXEMPT PURPOSE BY PROVIDING EDUCATION OF THE ARTS. BOOKS ARE SOLD FOR NOMINAL AMOUNT COMPARED TO THEIR PRINTING AND PUBLICATION COSTS IN ORDER TO BE AFFORDABLE TO THOSE LESS ABLE TO HAVE ACCESS TO THE EDUCATIONAL INFORMATION.</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>11A</LineNumberTxt>
          <RelationshipStatementTxt>OTHER INCOME FROM EXPENSE REIMBURSEMENTS</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <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>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>RUDY CICCARELLO</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>1650 EAST LAKE DRIVE</AddressLine1Txt>
          <CityNm>TARPON SPRINGS</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>34689</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>59235</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>1</ContributorNum>
        <NoncashPropertyDesc>ART OBJECTS</NoncashPropertyDesc>
        <FairMarketValueAmt>59235</FairMarketValueAmt>
        <ReceivedDt>2019-01-01</ReceivedDt>
      </NonCashPropertyContributionGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>17380</Amt>
        <NetInvestmentIncomeAmt>4345</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>4345</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>13035</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>AK STL HLDG CORP COM</StockNm>
        <EOYBookValueAmt>5048429</EOYBookValueAmt>
        <EOYFMVAmt>3290389</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc2210400001">
      <USGovtObligationsBookVlEOYAmt>1171617</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>1174295</USGovtObligationsEOYFMVAmt>
      <StateLocalSecBookVlEOYAmt>2073551</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>2350761</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>4100</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4100</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssetsScheduleGrp>
        <Desc>ART COLLECTION</Desc>
        <BOYBookValueAmt>45157701</BOYBookValueAmt>
        <EOYBookValueAmt>43651920</EOYBookValueAmt>
        <EOYFMVAmt>43651920</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>LIBRARY COLLECTION</Desc>
        <BOYBookValueAmt>430865</BOYBookValueAmt>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>MANUSCRIPTIONS IN PROGRESS</Desc>
        <BOYBookValueAmt>274804</BOYBookValueAmt>
        <EOYBookValueAmt>274804</EOYBookValueAmt>
        <EOYFMVAmt>274804</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ANTIQUE CARS</Desc>
        <BOYBookValueAmt>63000</BOYBookValueAmt>
        <EOYBookValueAmt>63000</EOYBookValueAmt>
        <EOYFMVAmt>63000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>YACHT</Desc>
        <BOYBookValueAmt>100000</BOYBookValueAmt>
        <EOYBookValueAmt>100000</EOYBookValueAmt>
        <EOYFMVAmt>100000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>ADVERTISING</Desc>
        <RevenueAndExpensesPerBooksAmt>2199</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2199</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>15646</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>942</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>942</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>14705</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>3478</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3478</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>-207</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>-207</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LICENSES AND PERMITS</Desc>
        <RevenueAndExpensesPerBooksAmt>259</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>259</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>4937</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4937</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>DUES</Desc>
        <RevenueAndExpensesPerBooksAmt>2418</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2418</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>REIMBURSEMENTS OF EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>73335</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>73335</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="RetDoc2049700001">
      <OtherIncreasesDetail>
        <Desc>ROUNDING</Desc>
        <Amt>1</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>PROFESSIONAL SERVICES</CategoryTxt>
        <Amt>9920</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>9920</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>REAL ESTATE TAXES</CategoryTxt>
        <Amt>2398</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2398</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>