﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xsi:schemaLocation="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.2">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-11-17T16:44:21-06:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>ALVAREZ &amp; MARSAL TAX LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>360 S ROSEMARY AVE SUITE 1010</AddressLine1Txt>
        <CityNm>WEST PALM BEACH</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>33401</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>651001949</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>JBJ FOUNDATION INC</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>C/O CARISSA TEPOVICH</BusinessNameLine2Txt>
      </BusinessName>
      <InCareOfNm>% JBJ FOUNDATION INC</InCareOfNm>
      <BusinessNameControlTxt>JBJF</BusinessNameControlTxt>
      <PhoneNum>7865835713</PhoneNum>
      <USAddress>
        <AddressLine1Txt>4425 PONCE DE LEON BLVD 4TH FLOOR</AddressLine1Txt>
        <CityNm>CORAL GABLES</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>33146</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>DAVID ERTEL</PersonNm>
      <PersonTitleTxt>DIRECTOR</PersonTitleTxt>
      <PhoneNum>3058548880</PhoneNum>
      <SignatureDt>2025-11-17</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>ANTHONY J GIACALONE</PreparerPersonNm>
      <PTIN>P01523514</PTIN>
      <PhoneNum>5612498446</PhoneNum>
      <PreparationDt>2025-11-17</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="14">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>221799105</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>68000000</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>4598008</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>4598008</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>4598008</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>4171368</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>4171368</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>4171368</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>402134</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>402134</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>402134</CapGainNetIncmNetInvstIncmAmt>
        <NetSTCapitalGainAdjNetIncmAmt>329146</NetSTCapitalGainAdjNetIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSch2">525397</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>525397</OtherIncomeNetInvstIncmAmt>
        <OtherIncomeAdjNetIncmAmt>525397</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>77696907</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>9696907</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>9623919</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>543219</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstAdjNetIncmAmt>0</CompOfcrDirTrstAdjNetIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>543219</CompOfcrDirTrstDsbrsChrtblAmt>
        <PensionEmplBnftRevAndExpnssAmt>58611</PensionEmplBnftRevAndExpnssAmt>
        <PensionEmplBnftNetInvstIncmAmt>0</PensionEmplBnftNetInvstIncmAmt>
        <PensionEmplBnftAdjNetIncmAmt>0</PensionEmplBnftAdjNetIncmAmt>
        <PensionEmplBnftDsbrsChrtblAmt>58611</PensionEmplBnftDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt>13309</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesAdjNetIncmAmt>0</LegalFeesAdjNetIncmAmt>
        <LegalFeesDsbrsChrtblAmt>13309</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt>98003</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>0</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>0</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>98003</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OthProfFeesSch">75512</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesDsbrsChrtblAmt>75512</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">107423</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>0</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>85000</TaxesAdjNetIncmAmt>
        <TaxesDsbrsChrtblAmt>22423</TaxesDsbrsChrtblAmt>
        <OccupancyRevAndExpnssAmt>6050</OccupancyRevAndExpnssAmt>
        <OccupancyNetInvstIncmAmt>0</OccupancyNetInvstIncmAmt>
        <OccupancyAdjNetIncmAmt>0</OccupancyAdjNetIncmAmt>
        <OccupancyDsbrsChrtblAmt>6050</OccupancyDsbrsChrtblAmt>
        <TravConfMeetingRevAndExpnssAmt>8960</TravConfMeetingRevAndExpnssAmt>
        <TravConfMeetingNetInvstIncmAmt>0</TravConfMeetingNetInvstIncmAmt>
        <TravConfMeetingAdjNetIncmAmt>0</TravConfMeetingAdjNetIncmAmt>
        <TravConfMeetingDsbrsChrtblAmt>8960</TravConfMeetingDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSch">916903</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>553108</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesAdjNetIncmAmt>308581</OtherExpensesAdjNetIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>55214</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>1827990</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>553108</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>393581</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>881301</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>10525908</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>10525908</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>12353898</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>553108</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>393581</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>11407209</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>65343009</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>9143799</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>9230338</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>20637261</CashBOYAmt>
        <CashEOYAmt>5208998</CashEOYAmt>
        <CashEOYFMVAmt>5208998</CashEOYFMVAmt>
        <AcctRcvblAmt>10125</AcctRcvblAmt>
        <AcctRcvblBOYAmt>10125</AcctRcvblBOYAmt>
        <AcctRcvblEOYAmt>10125</AcctRcvblEOYAmt>
        <AcctRcvblEOYFMVAmt>10125</AcctRcvblEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>2316517</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="InvGovtObligSch">2270279</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>2278830</USGovtObligationsEOYFMVAmt>
        <CorporateBondsBOYAmt>37274730</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="InvestCorpBondsSch">63684376</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>63418330</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>71208123</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvOtherSch2">106461610</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>108874991</OtherInvestmentsEOYFMVAmt>
        <LandBldgEquipCostOrOtherBssAmt>8762</LandBldgEquipCostOrOtherBssAmt>
        <LandBldgEquipAccumDeprecAmt>6615</LandBldgEquipAccumDeprecAmt>
        <LandBOYAmt>1038</LandBOYAmt>
        <LandEOYAmt referenceDocumentId="LandEtcSch2">2147</LandEOYAmt>
        <LandEOYFMVAmt>2147</LandEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="OtherAssetsSch">20006330</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="OtherAssetsSch">42005684</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="OtherAssetsSch">42005684</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>151454124</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>219643219</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>221799105</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>130000</AccountsPayableBOYAmt>
        <AccountsPayableEOYAmt>225000</AccountsPayableEOYAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="OtherLiabSch">525153</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="OtherLiabSch">203027</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>655153</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>428027</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <RetainedEarningBOYAmt>150798971</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>219215192</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>150798971</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>219215192</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>151454124</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>219643219</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>150798971</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>65343009</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="OtherIncreasesSch">3073212</OtherIncreasesAmt>
        <SubtotalAmt>219215192</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>219215192</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapitalGainNetIncomeAmt>402134</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>329146</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>127099</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>127099</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>127099</TaxBasedOnInvestmentIncomeAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>130000</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>130000</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>2901</OverpaymentAmt>
        <AppliedToESTaxAmt>2901</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>FL</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>true</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>true</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>false</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>JBJ FOUNDATION INC</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>7865835713</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>4425 PONCE DE LEON BLVD 4TH FLOOR</AddressLine1Txt>
          <CityNm>CORAL GABLES</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>33146</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>DAVID ERTEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>4425 PONCE DE LEON BLVD 4TH FLOOR</AddressLine1Txt>
            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33146</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>10.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>BETH ERTEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>4425 PONCE DE LEON BLVD 4TH FLOOR</AddressLine1Txt>
            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33146</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>10.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MICHAEL K PARK</PersonNm>
          <USAddress>
            <AddressLine1Txt>PERSONAL INFO AVAIL UPON REQUEST</AddressLine1Txt>
            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33146</ZIPCd>
          </USAddress>
          <TitleTxt>OFFICER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CARISSA TEPOVICH</PersonNm>
          <USAddress>
            <AddressLine1Txt>PERSONAL INFO AVAIL UPON REQUEST</AddressLine1Txt>
            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33146</ZIPCd>
          </USAddress>
          <TitleTxt>OFFICER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>10.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>AFRICA HR SOLUTIONS LTD</BusinessNameLine1Txt>
          </BusinessName>
          <ForeignAddress>
            <AddressLine1Txt>6TH FLR DIAS PIER BUILDING LE CAU</AddressLine1Txt>
            <CityNm>PORT LOUIS</CityNm>
            <CountryCd>MP</CountryCd>
            <ForeignPostalCd>11307</ForeignPostalCd>
          </ForeignAddress>
          <ServiceTypeTxt>PROFESSIONAL SVCS</ServiceTypeTxt>
          <CompensationAmt>131962</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>VELOCITY GLOBAL</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>1701 PLATTE ST SUITE 210</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>PROFESSIONAL SVCS</ServiceTypeTxt>
          <CompensationAmt>338174</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>ALVAREZ &amp; MARSAL TAX LLC</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>600 BRICKELL AVENUE SUITE 2950</AddressLine1Txt>
            <CityNm>MIAMI</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33131</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>PROFESSIONAL SVCS</ServiceTypeTxt>
          <CompensationAmt>98003</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>MERCER INV</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>3560 LENOX ROAD SUITE 2400</AddressLine1Txt>
            <CityNm>ATLANTA</CityNm>
            <StateAbbreviationCd>GA</StateAbbreviationCd>
            <ZIPCd>30326</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>PROFESSIONAL SVCS</ServiceTypeTxt>
          <CompensationAmt>50834</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>BUILDING EDUCATIONAL FOUNDATIONS THROUGH INNOVATION &amp; TECHNO LOGY (BEFIT): IMPROVING LITERACY AND NUMERACY AMOUNG PRIMARY SCHOOL STUDENTS THROUGH DIST. AND USE OF TABLETS/SOFTWARE.</Description1Txt>
        <Expenses1Amt>7156233</Expenses1Amt>
        <Description2Txt>PROJECT BETTER ANGELS: PROMOTING PEACE AND UNDERSTANDING THROUGH EDUCATION INITIATIVES AMOUNG YOUNG PEOPLE.</Description2Txt>
        <Expenses2Amt>2381333</Expenses2Amt>
        <Description3Txt>MALAWI: INCREASING ACCESS TO EDUCATION, PARENTING SKILLS, AND ESSENTIAL MEDICINES IN MALAWI.</Description3Txt>
        <Expenses3Amt>730486</Expenses3Amt>
        <Description4Txt>KWITANDA COMMUNITY HEALTH PROJECT (KCHP): IMPLEMENTATION OF THE KWITANDA COMMUNITY HEALTH PROJECT, WHICH PROVIDES COMMUN ITY HEALTH SERVICES TO A CATCHMENT AREA IN BALAKA DISTRICT.</Description4Txt>
        <Expenses4Amt>127156</Expenses4Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp />
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>1235082</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>9500568</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>176840216</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>187575866</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>187575866</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>2813638</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>184762228</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>9238111</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <Sect4942j3j5FndtnAndFrgnOrgInd>X</Sect4942j3j5FndtnAndFrgnOrgInd>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>11407209</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>11407209</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <PrivateOperatingFoundationsGrp>
        <PrivateOperatingFndtnRulingDt>2000-10-13</PrivateOperatingFndtnRulingDt>
        <Section4942j3Ind>X</Section4942j3Ind>
        <LessorAdjNetIncmMinInvstRetGrp>
          <CurrentYearAmt>9230338</CurrentYearAmt>
          <Year1Amt>6648190</Year1Amt>
          <Year2Amt>2006942</Year2Amt>
          <Year3Amt>180217</Year3Amt>
          <TotalAmt>18065687</TotalAmt>
        </LessorAdjNetIncmMinInvstRetGrp>
        <Pct85LessorAdjIncmOrMinRetGrp>
          <CurrentYearAmt>7845787</CurrentYearAmt>
          <Year1Amt>5650962</Year1Amt>
          <Year2Amt>1705901</Year2Amt>
          <Year3Amt>153184</Year3Amt>
          <TotalAmt>15355834</TotalAmt>
        </Pct85LessorAdjIncmOrMinRetGrp>
        <QualifyingDistributionsGrp>
          <CurrentYearAmt>11407209</CurrentYearAmt>
          <Year1Amt>12571341</Year1Amt>
          <Year2Amt>2156199</Year2Amt>
          <Year3Amt>2280180</Year3Amt>
          <TotalAmt>28414929</TotalAmt>
        </QualifyingDistributionsGrp>
        <QualifyingDistriNotUsedDrtGrp>
          <CurrentYearAmt>0</CurrentYearAmt>
          <Year1Amt>0</Year1Amt>
          <Year2Amt>0</Year2Amt>
          <Year3Amt>0</Year3Amt>
          <TotalAmt>0</TotalAmt>
        </QualifyingDistriNotUsedDrtGrp>
        <QualifyingDistriMadeDrtGrp>
          <CurrentYearAmt>11407209</CurrentYearAmt>
          <Year1Amt>12571341</Year1Amt>
          <Year2Amt>2156199</Year2Amt>
          <Year3Amt>2280180</Year3Amt>
          <TotalAmt>28414929</TotalAmt>
        </QualifyingDistriMadeDrtGrp>
        <TotalAssetsGrp>
          <CurrentYearAmt>0</CurrentYearAmt>
          <Year1Amt>0</Year1Amt>
          <Year2Amt>0</Year2Amt>
          <Year3Amt>0</Year3Amt>
          <TotalAmt>0</TotalAmt>
        </TotalAssetsGrp>
        <TotalAssetsSect4942j3BiGrp>
          <CurrentYearAmt>0</CurrentYearAmt>
          <Year1Amt>0</Year1Amt>
          <Year2Amt>0</Year2Amt>
          <Year3Amt>0</Year3Amt>
          <TotalAmt>0</TotalAmt>
        </TotalAssetsSect4942j3BiGrp>
        <TwoThirdsMinimumInvstRetGrp>
          <CurrentYearAmt>6153558</CurrentYearAmt>
          <Year1Amt>4432127</Year1Amt>
          <Year2Amt>4986817</Year2Amt>
          <Year3Amt>1112105</Year3Amt>
          <TotalAmt>16684607</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>DAVID ERTEL</ContributingManagerNm>
        <ContributingManagerNm>BETH ERTEL</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>VARIOUS CHARITABLE ACTIVITIES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientForeignAddress>
            <AddressLine1Txt>VARIOUS</AddressLine1Txt>
            <ProvinceOrStateNm>VARIOUS</ProvinceOrStateNm>
            <CountryCd>MI</CountryCd>
          </RecipientForeignAddress>
          <GrantOrContributionPurposeTxt>VARIOUS CHARITABLE ACTIVITIES</GrantOrContributionPurposeTxt>
          <Amt>10525908</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>10525908</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>4598008</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>4171368</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncomeGrp />
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>402134</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <OtherRevenueDescribedGrp>
          <Desc>OTHER INCOME FROM PASS-THROUGH INVESTMENTS</Desc>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>525397</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>9696907</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>9696907</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 BETH ERTEL</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>4425 PONCE DE LEON BLVD 4TH FLOOR</AddressLine1Txt>
          <CityNm>CORAL GABLES</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>33146</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>68000000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <DepreciationSchedule documentId="DepreciationSch">
      <DepreciationPropertyGrp>
        <PropertyDesc>COMPUTER EQUIPMENT</PropertyDesc>
        <AcquiredDt>2002-06-01</AcquiredDt>
        <CostOrOtherBasisAmt>1037</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1037</PriorYearDepreciationAmt>
        <ComputationMethodTxt>DDB</ComputationMethodTxt>
        <LifeRt>5</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAPTOP</PropertyDesc>
        <AcquiredDt>2018-07-30</AcquiredDt>
        <CostOrOtherBasisAmt>1358</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1270</PriorYearDepreciationAmt>
        <ComputationMethodTxt>DDB</ComputationMethodTxt>
        <LifeRt>5</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAPTOP</PropertyDesc>
        <AcquiredDt>2019-05-31</AcquiredDt>
        <CostOrOtherBasisAmt>1391</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1232</PriorYearDepreciationAmt>
        <ComputationMethodTxt>DDB</ComputationMethodTxt>
        <LifeRt>5</LifeRt>
        <CurrentYearExpenseAmt>64</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>DESK</PropertyDesc>
        <AcquiredDt>2020-07-29</AcquiredDt>
        <CostOrOtherBasisAmt>1280</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>869</PriorYearDepreciationAmt>
        <ComputationMethodTxt>DDB</ComputationMethodTxt>
        <LifeRt>7</LifeRt>
        <CurrentYearExpenseAmt>117</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAPTOP</PropertyDesc>
        <AcquiredDt>2020-05-29</AcquiredDt>
        <CostOrOtherBasisAmt>1044</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>871</PriorYearDepreciationAmt>
        <ComputationMethodTxt>DDB</ComputationMethodTxt>
        <LifeRt>5</LifeRt>
        <CurrentYearExpenseAmt>69</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>COMPUTER EQUIPMENT</PropertyDesc>
        <AcquiredDt>2020-08-31</AcquiredDt>
        <CostOrOtherBasisAmt>1107</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>900</PriorYearDepreciationAmt>
        <ComputationMethodTxt>DDB</ComputationMethodTxt>
        <LifeRt>5</LifeRt>
        <CurrentYearExpenseAmt>83</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>PHONE</PropertyDesc>
        <AcquiredDt>2024-10-22</AcquiredDt>
        <CostOrOtherBasisAmt>1545</CostOrOtherBasisAmt>
        <ComputationMethodTxt>DDB</ComputationMethodTxt>
        <LifeRt>5</LifeRt>
        <CurrentYearExpenseAmt>103</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorporateBondsGrp>
        <BondNm>STOCKS</BondNm>
        <EOYBookValueAmt>63684376</EOYBookValueAmt>
        <EOYFMVAmt>63418330</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsGovtObligationsSch documentId="InvGovtObligSch">
      <USGovtObligationsBookVlEOYAmt>2270279</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>2278830</USGovtObligationsEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN BOO V LP</CategoryOrItemTxt>
        <BookValueAmt>1297123</BookValueAmt>
        <EOYFMVAmt>1267123</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN BOO V AIV 2 LP</CategoryOrItemTxt>
        <BookValueAmt>2105383</BookValueAmt>
        <EOYFMVAmt>2105383</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN BOO VIA I LP</CategoryOrItemTxt>
        <BookValueAmt>464741</BookValueAmt>
        <EOYFMVAmt>464741</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN BOO VI 2 LP</CategoryOrItemTxt>
        <BookValueAmt>1256586</BookValueAmt>
        <EOYFMVAmt>1256586</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN ICG STRATEGIC EQ</CategoryOrItemTxt>
        <BookValueAmt>6160218</BookValueAmt>
        <EOYFMVAmt>6472035</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN SWEETWATER PRIVA</CategoryOrItemTxt>
        <BookValueAmt>3069714</BookValueAmt>
        <EOYFMVAmt>3377271</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN APOLLO ACCORD</CategoryOrItemTxt>
        <BookValueAmt>5651709</BookValueAmt>
        <EOYFMVAmt>5532922</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN VINTAGE 2021 PRI</CategoryOrItemTxt>
        <BookValueAmt>2560682</BookValueAmt>
        <EOYFMVAmt>3045065</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN HPS CORP LENDING</CategoryOrItemTxt>
        <BookValueAmt>19303175</BookValueAmt>
        <EOYFMVAmt>19743878</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN BOF OFFSHORE VII</CategoryOrItemTxt>
        <BookValueAmt>12297713</BookValueAmt>
        <EOYFMVAmt>12297713</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN BAYVIEW MSR OPP</CategoryOrItemTxt>
        <BookValueAmt>12377452</BookValueAmt>
        <EOYFMVAmt>12377452</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN TCG OPP III</CategoryOrItemTxt>
        <BookValueAmt>1319791</BookValueAmt>
        <EOYFMVAmt>962445</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN TCG OPP V</CategoryOrItemTxt>
        <BookValueAmt>891745</BookValueAmt>
        <EOYFMVAmt>812232</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN CRV XIX LP</CategoryOrItemTxt>
        <BookValueAmt>2857482</BookValueAmt>
        <EOYFMVAmt>3132915</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN IIF TAX EXEMPT H</CategoryOrItemTxt>
        <BookValueAmt>10000000</BookValueAmt>
        <EOYFMVAmt>10481704</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN PERCEPTIVE CREDI</CategoryOrItemTxt>
        <BookValueAmt>3701186</BookValueAmt>
        <EOYFMVAmt>3647931</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN FELICIS VENTURES</CategoryOrItemTxt>
        <BookValueAmt>2012355</BookValueAmt>
        <EOYFMVAmt>2553998</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN ICG STRATEGIC EQ</CategoryOrItemTxt>
        <BookValueAmt>925059</BookValueAmt>
        <EOYFMVAmt>1105962</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN APOLLO ACCORD II</CategoryOrItemTxt>
        <BookValueAmt>1184273</BookValueAmt>
        <EOYFMVAmt>1295914</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN ICG PRIVATE EQUI</CategoryOrItemTxt>
        <BookValueAmt>15000000</BookValueAmt>
        <EOYFMVAmt>15000000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN BRIGHTSTAR CAPIT</CategoryOrItemTxt>
        <BookValueAmt>758365</BookValueAmt>
        <EOYFMVAmt>780591</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT IN DYMON ASIA PRIVA</CategoryOrItemTxt>
        <BookValueAmt>1266858</BookValueAmt>
        <EOYFMVAmt>1161130</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="LandEtcSch2">
      <LandEtcGrp>
        <CategoryOrItemTxt>COMPUTER EQUIPMENT</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1037</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1037</AccumulatedDepreciationAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>LAPTOP</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1358</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1270</AccumulatedDepreciationAmt>
        <BookValueAmt>88</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>LAPTOP</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1391</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1296</AccumulatedDepreciationAmt>
        <BookValueAmt>95</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>DESK</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1280</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>986</AccumulatedDepreciationAmt>
        <BookValueAmt>294</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>LAPTOP</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1044</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>940</AccumulatedDepreciationAmt>
        <BookValueAmt>104</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COMPUTER EQUIPMENT</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1107</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>983</AccumulatedDepreciationAmt>
        <BookValueAmt>124</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>PHONE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1545</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>103</AccumulatedDepreciationAmt>
        <BookValueAmt>1442</BookValueAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssetsScheduleGrp>
        <Desc>FL PREPAID COLLEGE TUITION</Desc>
        <BOYBookValueAmt>6330</BOYBookValueAmt>
        <EOYBookValueAmt>5684</EOYBookValueAmt>
        <EOYFMVAmt>5684</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>SHORT TERM CASH DEPOSITS</Desc>
        <BOYBookValueAmt>20000000</BOYBookValueAmt>
        <EOYBookValueAmt>42000000</EOYBookValueAmt>
        <EOYFMVAmt>42000000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>BANK FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>395</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>395</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>22741</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>22741</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT MANAGEMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>50834</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>50834</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SHIPPING/POSTAGE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>28189</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>28189</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>DUES AND FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>185</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>185</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PASSTHROUGH INV. EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>72979</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>72979</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PASSTHROUGH OTHER DEDUCTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>737481</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>428900</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>308581</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SUBSCRIPTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>770</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>770</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>CHARITABLE CONTRIBUTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>2588</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2588</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MEMBERSHIP FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>95</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>95</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>COLLEGE TUITION</Desc>
        <RevenueAndExpensesPerBooksAmt>646</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>646</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>OTHER INCOME FROM INVESTMENTS</Desc>
        <RevenueAndExpensesPerBooksAmt>525397</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>525397</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>525397</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSch">
      <OtherIncreasesDetail>
        <Desc>ADJUSTMENTS FOR FOREIGN INCOME</Desc>
        <Amt>3073212</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherLiabilitiesSchedule documentId="OtherLiabSch">
      <OtherLiabilitiesDetail>
        <Desc>INVESTMENT IN WEBSTAR EQUITY PARTNERS V</Desc>
        <BOYBookValueAmt>0</BOYBookValueAmt>
        <EOYBookValueAmt>203027</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>INVESTMENT IN BRIGHTSTAR CAPITAL PARTNERS FUND III-A</Desc>
        <BOYBookValueAmt>241242</BOYBookValueAmt>
        <EOYBookValueAmt>0</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>INVESTMENT IN DYMON ASIA PRIVATE EQUITY FUND III LP</Desc>
        <BOYBookValueAmt>192516</BOYBookValueAmt>
        <EOYBookValueAmt>0</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>INVESTMENT IN ICG STRATEGIC EQUITY V</Desc>
        <BOYBookValueAmt>91395</BOYBookValueAmt>
        <EOYBookValueAmt>0</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>CONSULTING FEES</CategoryTxt>
        <Amt>75512</Amt>
        <DisbursementsCharitablePrpsAmt>75512</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>PAYROLL TAXES</CategoryTxt>
        <Amt>22423</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>22423</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAX EXPENSE</CategoryTxt>
        <Amt>85000</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>85000</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>