﻿<?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="2018v3.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2019-11-14T18:29:45-06:00</ReturnTs>
    <TaxPeriodEndDt>2018-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>941527242</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>FARELLA BRAUN MARTEL LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>235 MONTGOMERY STREET SUITE 1800</AddressLine1Txt>
        <CityNm>SAN FRANCISCO</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>94104</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2018-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>200721636</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE DHB FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>SAMA</BusinessNameControlTxt>
      <PhoneNum>4152848673</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 193809</AddressLine1Txt>
        <CityNm>SAN FRANCISCO</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>941193809</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>SHU HUANG</PersonNm>
      <PersonTitleTxt>SECRETARY</PersonTitleTxt>
      <PhoneNum>4152848697</PhoneNum>
      <SignatureDt>2019-11-14</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>BARBARA A MURPHY</PreparerPersonNm>
      <PTIN>P00439228</PTIN>
      <PhoneNum>4159544400</PhoneNum>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>38.110.143.106</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2019-11-14</IPDt>
      <IPTm>18:28:46</IPTm>
      <IPTimezoneCd>PS</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>DA39A3EE5E6B4B0D3255BFEF95601890AFD80709</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>D231C5642A58345045E353A89B8C6FC43DB33BF5</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2018</TaxYr>
    <BuildTS>2020-03-31 21:24:44Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="12">
    <IRS990PF documentId="RetDoc1235000001" referenceDocumentId="RetDoc2258700001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2293162</FMVAssetsEOYAmt>
      <MethodOfAccountingOtherInd methodOfAccountingOtherDesc="MODIFIED CASH">X</MethodOfAccountingOtherInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>100000</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>32</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>32</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>48721</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>48721</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>511</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>511</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>511</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>149264</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>49264</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">252</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>252</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">10000</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>0</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>10000</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">1328</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>844</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">111</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>0</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>111</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>11691</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>844</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>10363</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>108000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>108000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>119691</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>844</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>118363</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>29573</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>48420</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>73540</CashBOYAmt>
        <CashEOYAmt>65817</CashEOYAmt>
        <CashEOYFMVAmt>65817</CashEOYFMVAmt>
        <PrepaidExpensesBOYAmt>18</PrepaidExpensesBOYAmt>
        <CorporateStockBOYAmt>1524146</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">1561476</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>2227345</CorporateStockEOYFMVAmt>
        <TotalAssetsBOYAmt>1597704</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>1627293</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2293162</TotalAssetsEOYFMVAmt>
        <AccountsPayableEOYAmt>16</AccountsPayableEOYAmt>
        <GrantsPayableBOYAmt>120000</GrantsPayableBOYAmt>
        <GrantsPayableEOYAmt>80000</GrantsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>120000</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>80016</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <CapitalStockBOYAmt>0</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>0</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>1477704</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>1547277</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1477704</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>1547277</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1597704</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1627293</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1477704</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>29573</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc2049700001">40000</OtherIncreasesAmt>
        <SubtotalAmt>1547277</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>1547277</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAINS DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>511</GrossSalesPriceAmt>
          <GainOrLossAmt>511</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>511</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>511</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>0</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>97650</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>2251763</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.043366</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>93619</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>1918473</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.048799</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>46330</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>1838687</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.025197</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>54114</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>1718931</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.031481</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>36071</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>1428787</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.025246</DistributionYr5Rt>
        <TotalDistributionRt>0.174089</TotalDistributionRt>
        <AverageDistributionRt>0.034818</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>2494406</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>86850</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>484</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>87334</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>118363</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>484</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>484</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>484</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>468</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>550</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>1018</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <OverpaymentAmt>534</OverpaymentAmt>
        <AppliedToESTaxAmt>534</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>CA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd referenceDocumentId="RetDoc2089200001">1</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>SECRETARY</IndividualWithBooksNm>
        <PhoneNum>4152848673</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>199 FREMONT STREET 22ND FLOOR</AddressLine1Txt>
          <CityNm>SAN FRANCISCO</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>941052255</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>1</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>0</ActsFailToQlfyAsExceptionsInd>
        <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>1</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>1</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd referenceDocumentId="RetDoc2118100001">1</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm referenceDocumentId="RetDoc2212000001">DARREN H BECHTEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 193809</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>941193809</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT &amp; DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>RILEY P BECHTEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 193809</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>941193809</ZIPCd>
          </USAddress>
          <TitleTxt>VICE PRESIDENT &amp; DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SUSAN P BECHTEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 193809</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>941193809</ZIPCd>
          </USAddress>
          <TitleTxt>CFO &amp; DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SHU HUANG</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 193809</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>941193809</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>BRENDAN P BECHTEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 193809</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>941193809</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KATHERINE E BECHTEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 193809</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>941193809</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>AMY DUNPHY</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 193809</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>941193809</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</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>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>2431756</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>100636</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2532392</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2532392</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>37986</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2494406</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>124720</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>124720</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>484</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>484</TotalTaxAmt>
        <DistributableBeforeAdjAmt>124236</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>124236</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>124236</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>118363</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>118363</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>484</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>117879</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>124236</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>101089</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>118363</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>101089</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>17274</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>106962</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>DARREN H BECHTEL</ContributingManagerNm>
        <ContributingManagerNm>RILEY P BECHTEL</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FINE ARTS MUSEUM OF SAN FRANCISCO</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>50 HAGIWARA TEA GARDEN DRIVE</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>941184502</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>BENEFIT THE PROGRAMS, ART WORK, AND EDUCATION AT THE LEGION OF HONOR</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GOLDEN GATE NATIONAL PARKS CONSERVANCY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>BUILDING 201 FORT MASON</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94123</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO BENEFIT THE GREG MOORE PARKS FOR ALL FUND AND ITS EFFORTS TO BRING UNDER-REPRESENTED VISITORS TO THE NATIONAL PARKLANDS</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE FOUNDATION AT SAINT JOSEPH'S ARTS SOCIETY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1401 HOWARD STREET</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94103</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE SOCIETY'S MISSION TO PROVIDE PUBLIC ART EXHIBITIONS, PROGRAMMING AND ARTIST RESIDENCIES. THIS ORGANIZATION IS AWAITING IRS APPROVAL OF ITS IRC SECTION 501(C)(3) PUBLIC CHARITY STATUS.</GrantOrContributionPurposeTxt>
          <Amt>12000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SAN FRANCISCO MUSEUM OF MODERN ART</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>151 THIRD STREET</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94103</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>BENEFIT SFMOMA'S COMMITMENT TO EXPLORE THE EXPRESSIONS OF VISUAL CULTURE, ACHIEVEMENTS OF INDIVIDUAL ARTISTS INSPIRING DISCOVERY FOR THE ENRICHMENT OF PEOPLE'S LIVES.</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>STANFORD UNIVERSITY-GRADUATE SCHOOL OF BUSINESS (GSB)</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>655 KNIGHT WAY</AddressLine1Txt>
            <CityNm>STANFORD</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>943057298</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PLEDGE (3 OF 5): TO BENEFIT THE SOCIAL IMPACT FUND.</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THACHER SCHOOL THE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5025 THACHER ROAD</AddressLine1Txt>
            <CityNm>OJAI</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>93023</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>BENEFIT ANNUAL FUND, RESTRICTED TO FINANCIAL AID</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TIPPING POINT COMMUNITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>220 MONTGOMERY STREET</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94104</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>BENEFIT PROGRAMS SUPPORTING THE WORK OF 43 POVERTY-FIGHTING ORGANIZATIONS ACROSS THE BAY AREA.</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>108000</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>32</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>48721</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>511</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>49264</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>49264</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>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>FREMONT INVESTORS INC</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>199 FREMONT STREET SUITE 2500</AddressLine1Txt>
          <CityNm>SAN FRANCISCO</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>94105</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>100000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>10000</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>10000</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <CompensationExplanation documentId="RetDoc2212000001">
      <CompensationExplanationGrp>
        <PersonNm>ALL FOUNDATION OFFICERS</PersonNm>
        <ShortExplanationTxt>ALL FOUNDATION OFFICERS VOLUNTEER THEIR TIME ON AN AS NEEDED BASIS AS IT RELATES TO FOUNDATION MATTERS AND CHOOSE NOT TO BE COMPENSATED FOR THEIR SERVICES.</ShortExplanationTxt>
      </CompensationExplanationGrp>
    </CompensationExplanation>
    <ExpenditureResponsibilityStmt documentId="RetDoc2118100001">
      <ExpenditureResponsibilityGrp>
        <BusinessName>
          <BusinessNameLine1Txt>THE FOUNDATION AT SAINT JOSEPH'S ARTS SOCIETY</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>1401 HOWARD STREET</AddressLine1Txt>
          <CityNm>SAN FRANCISCO</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>94103</ZIPCd>
        </USAddress>
        <GrantDt>2018-12-10</GrantDt>
        <GrantAmt>12000</GrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT THE ORGANIZATION'S MISSION TO PROVIDE PUBLIC ART EXHIBITIONS, PROGRAMMING AND ARTIST RESIDENCIES.</PurposeOfGrantTxt>
        <ExpendedByGranteeAmt>0</ExpendedByGranteeAmt>
        <AnyDiversionByGranteeTxt>THE DHB FOUNDATION UNDERSTANDS THAT THE SAINT JOSEPH'S ARTS SOCIETY HAS NOT</AnyDiversionByGranteeTxt>
      </ExpenditureResponsibilityGrp>
    </ExpenditureResponsibilityStmt>
    <GeneralExplanationAttachment documentId="RetDoc2258700001">
      <GeneralExplanationGrp>
        <FormAndLineReferenceDesc>FORM 990-PF, PART VII-B, LINE 1A(4)</FormAndLineReferenceDesc>
        <MediumExplanationTxt>IRC SEC 4941(D)(2)(E), REG. 53.4941(D)-(3)(C)(2) EX.1</MediumExplanationTxt>
      </GeneralExplanationGrp>
      <GeneralExplanationGrp>
        <FormAndLineReferenceDesc>SCHEDULE B PART 1 COLUMN (C)</FormAndLineReferenceDesc>
        <MediumExplanationTxt>THE FOUNDATION DID NOT PROVIDE ANY GOODS OR SERVICES IN CONSIDERATION, IN WHOLE OR PART, FOR ANY CONTRIBUTIONS RECEIVED AS REPORTED ON SCHEDULE B.</MediumExplanationTxt>
      </GeneralExplanationGrp>
    </GeneralExplanationAttachment>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>DODGE &amp; COX INTL STOCK FUND (6,777.871 SHARES)</StockNm>
        <EOYBookValueAmt>253085</EOYBookValueAmt>
        <EOYFMVAmt>250171</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VANGUARD TOTAL STOCK MKT (19,339.873 SHARES)</StockNm>
        <EOYBookValueAmt>738379</EOYBookValueAmt>
        <EOYFMVAmt>1200619</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>I-SHARES RUSSELL 1000 INDEX FUND (3,864 SHARES)</StockNm>
        <EOYBookValueAmt>314955</EOYBookValueAmt>
        <EOYFMVAmt>535898</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DODGE &amp; COX INCOME FUND (9,183.414 SHARES)</StockNm>
        <EOYBookValueAmt>125142</EOYBookValueAmt>
        <EOYFMVAmt>121772</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PIMCO TOTAL RETURN FUND (11,972.300 SHARES)</StockNm>
        <EOYBookValueAmt>129915</EOYBookValueAmt>
        <EOYFMVAmt>118885</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>252</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>252</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>RECORDING &amp; FILING FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>86</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>86</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>25</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>25</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="RetDoc2049700001">
      <OtherIncreasesDetail>
        <Desc>EQUITY ADJUSTMENT FOR ACCRUAL OF GRANTS PAYABLE AT YEAR END</Desc>
        <Amt>40000</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <SubstantialContributorsSch documentId="RetDoc2089200001">
      <SubstantialContributorDetail>
        <BusinessName>
          <BusinessNameLine1Txt>FREMONT INVESTORS INC</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>199 FREMONT STREET SUITE 2500</AddressLine1Txt>
          <CityNm>SAN FRANCISCO</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>94105</ZIPCd>
        </USAddress>
      </SubstantialContributorDetail>
    </SubstantialContributorsSch>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE TAX</CategoryTxt>
        <Amt>484</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>844</Amt>
        <NetInvestmentIncomeAmt>844</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>