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          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>114073</TotalGrantOrContriPdDurYrAmt>
        <GrantOrContriApprvForFutGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CLARK UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>950 MAIN STREET</AddressLine1Txt>
            <CityNm>WORCESTER</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>01610</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OFFICE OF MULTICULTURAL AND FIRST GENERATION STUDENT SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>105783</Amt>
        </GrantOrContriApprvForFutGrp>
        <GrantOrContriApprvForFutGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BENNINGTON COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>ONE COLLEGE DRIVE</AddressLine1Txt>
            <CityNm>BENNINGTON</CityNm>
            <StateAbbreviationCd>VT</StateAbbreviationCd>
            <ZIPCd>05201</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP, ENDOWMENT</GrantOrContributionPurposeTxt>
          <Amt>850000</Amt>
        </GrantOrContriApprvForFutGrp>
        <TotalGrantOrContriApprvFutAmt>955783</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp />
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>114329</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncmPartVIIGrp />
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>699810</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>814139</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>814139</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <IRS990ScheduleB documentId="IRS990ScheduleB">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>DAVID M JAFFE</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>80 E MARKET ST STE 300</AddressLine1Txt>
          <CityNm>CORNING</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>14830</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>500005</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <ContributorInformationGrp>
        <ContributorNum>2</ContributorNum>
        <ContributorPersonNm>DOUGLAS W JAFFE</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>80 E MARKET ST STE 300</AddressLine1Txt>
          <CityNm>CORNING</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>14830</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>16763</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>FIDUCIARY TRUST COMPANY INT'L</StockNm>
        <EOYBookValueAmt>1087</EOYBookValueAmt>
        <EOYFMVAmt>969</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VANGUARD TOTAL ST FUND</StockNm>
        <EOYBookValueAmt>500000</EOYBookValueAmt>
        <EOYFMVAmt>502975</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssetsScheduleGrp>
        <Desc>MS GLOBAL ALERNATIVE FUND</Desc>
        <BOYBookValueAmt>1276138</BOYBookValueAmt>
        <EOYBookValueAmt>1138718</EOYBookValueAmt>
        <EOYFMVAmt>981507</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>MS GLOBAL CREDIT FUND</Desc>
        <BOYBookValueAmt>273523</BOYBookValueAmt>
        <EOYBookValueAmt>313566</EOYBookValueAmt>
        <EOYFMVAmt>287138</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>MS GLOBAL EQUITY FUND</Desc>
        <BOYBookValueAmt>3289710</BOYBookValueAmt>
        <EOYBookValueAmt>3545577</EOYBookValueAmt>
        <EOYFMVAmt>3559149</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="OtherDecreasesSch">
      <OtherDecreasesDetail>
        <Desc>APPRECIATION ON CONTRIBUTED STOCK</Desc>
        <Amt>507319</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>FILING FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>25</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MS GLOBAL ALTERNATIVES FUND</Desc>
        <RevenueAndExpensesPerBooksAmt>2327</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>2327</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MS GLOBAL CREDIT FUND</Desc>
        <RevenueAndExpensesPerBooksAmt>492</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>492</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MS GLOBAL EQUITY FUND</Desc>
        <RevenueAndExpensesPerBooksAmt>4696</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>4696</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>FIDUCIARY TRUST COMPANY</Desc>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>PARTNERSHIP DISTRIBUTIONS</Desc>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>ENTERPRISE PRODUCTS PARTNERS K-1</Desc>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSch">
      <OtherIncreasesDetail>
        <Desc>DECREASE IN GRANTS PAYABLE</Desc>
        <Amt>652871</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>MARKET STREET TRUST COMPANY</CategoryTxt>
        <Amt>19826</Amt>
        <NetInvestmentIncomeAmt>19826</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <SubstantialContributorsSch documentId="SubsContributorsSch">
      <SubstantialContributorDetail>
        <PersonNm>DAVID M JAFFE</PersonNm>
        <USAddress>
          <AddressLine1Txt>80 E MARKET ST STE 300</AddressLine1Txt>
          <CityNm>CORNING</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>14830</ZIPCd>
        </USAddress>
      </SubstantialContributorDetail>
    </SubstantialContributorsSch>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAX PAYMENTS</CategoryTxt>
        <Amt>7145</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FORIEGN TAXES</CategoryTxt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>MS GLOBAL EQUITY FUND</CategoryTxt>
        <Amt>4271</Amt>
        <NetInvestmentIncomeAmt>4271</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>