﻿<?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="2017v2.3">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2018-10-31T10:17:59-05:00</ReturnTs>
    <TaxPeriodEndDt>2017-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>410746749</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>CLIFTONLARSONALLEN LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>5255 EAST WILLIAMS CIRCLE STE 5000</AddressLine1Txt>
        <CityNm>TUCSON</CityNm>
        <StateAbbreviationCd>AZ</StateAbbreviationCd>
        <ZIPCd>85711</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2017-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>860940147</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>FREDERICK GARDNER COTTRELL FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>FRED</BusinessNameControlTxt>
      <PhoneNum>5207484420</PhoneNum>
      <USAddress>
        <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
        <CityNm>TUCSON</CityNm>
        <StateAbbreviationCd>AZ</StateAbbreviationCd>
        <ZIPCd>85718</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>CHRISTOPHER P MARTIN</PersonNm>
      <PersonTitleTxt>DIRECTOR/TREASURER</PersonTitleTxt>
      <PhoneNum>5207484420</PhoneNum>
      <SignatureDt>2018-10-18</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>LISA ADAMS</PreparerPersonNm>
      <PTIN>P00854368</PTIN>
      <PhoneNum>5207903500</PhoneNum>
      <PreparationDt>2018-10-18</PreparationDt>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>67.137.57.251</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2018-10-18</IPDt>
      <IPTm>10:50:57</IPTm>
      <IPTimezoneCd>US</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>A52F513B8D8172ADA5E5426B2D9DBB033DEB48E6</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>421C05F217CC2BBC2E194AA24BEB5C1FD571BD26</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2017</TaxYr>
    <BuildTS>2018-06-14 16:35:46Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>26523908</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>3416060</ContriRcvdRevAndExpnssAmt>
        <DividendsRevAndExpnssAmt>280363</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>280363</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>1023167</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>5496494</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>1604034</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>4719590</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>1884397</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">17954</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>17954</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>0</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">5495</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>2748</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>2747</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">32641</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>32641</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>0</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">43618</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>13024</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">1082</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>718</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>364</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>100790</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>67085</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>3111</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>1287300</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>1687300</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>1388090</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>67085</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>1690411</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>3331500</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>1817312</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>15903</CashBOYAmt>
        <CashEOYAmt>194626</CashEOYAmt>
        <CashEOYFMVAmt>194626</CashEOYFMVAmt>
        <AcctRcvblAmt>3416060</AcctRcvblAmt>
        <AcctRcvblBOYAmt>2990972</AcctRcvblBOYAmt>
        <AcctRcvblEOYAmt>3416060</AcctRcvblEOYAmt>
        <AcctRcvblEOYFMVAmt>3416060</AcctRcvblEOYFMVAmt>
        <PrepaidExpensesBOYAmt>122000</PrepaidExpensesBOYAmt>
        <PrepaidExpensesEOYAmt>30600</PrepaidExpensesEOYAmt>
        <PrepaidExpensesEOYFMVAmt>30600</PrepaidExpensesEOYFMVAmt>
        <CorporateStockBOYAmt>17804508</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">22882622</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>22882622</CorporateStockEOYFMVAmt>
        <TotalAssetsBOYAmt>20933383</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>26523908</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>26523908</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>5977</AccountsPayableBOYAmt>
        <GrantsPayableBOYAmt>1600000</GrantsPayableBOYAmt>
        <GrantsPayableEOYAmt>1200000</GrantsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>1605977</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>1200000</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
        <UnrestrictedBOYAmt>19327406</UnrestrictedBOYAmt>
        <UnrestrictedEOYAmt>25323908</UnrestrictedEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>19327406</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>25323908</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>20933383</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>26523908</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>19327406</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>3331500</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc2049700001">2665002</OtherIncreasesAmt>
        <SubtotalAmt>25323908</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>25323908</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PUBLICLY TRADED STOCK</PropertyDesc>
          <GrossSalesPriceAmt>4746653</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>3892460</CostOrOtherBasisAmt>
          <GainOrLossAmt>854193</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>854193</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAINS DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>749841</GrossSalesPriceAmt>
          <GainOrLossAmt>749841</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>749841</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>1604034</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>0</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>1187183</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>17370598</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.068344</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>226887</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>14262118</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.015908</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>5651658</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>12363611</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.457120</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>1929341</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>10059212</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.191798</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>983238</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>7299734</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.134695</DistributionYr5Rt>
        <TotalDistributionRt>0.867865</TotalDistributionRt>
        <AverageDistributionRt>0.173573</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>21066287</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>3656539</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>18173</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>3674712</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>1690411</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>36346</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>36346</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>36346</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>30600</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>7500</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>38100</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1192000001">X</Form2220AttachedInd>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <OverpaymentAmt>1754</OverpaymentAmt>
        <AppliedToESTaxAmt>1754</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>AZ</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>WWW.RCTECH.COM</WebsiteAddressTxt>
        <IndividualWithBooksNm>KATHLEEN M HUNTER-GREGORY</IndividualWithBooksNm>
        <PhoneNum>5207484420</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
          <CityNm>TUCSON</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>85718</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>1</BusinessHoldingsInd>
        <ExcessBusinessHoldingsInd>0</ExcessBusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>0</TransactionsFailToQlfyAsExcInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>GARY MUNSINGER</PersonNm>
          <USAddress>
            <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85718</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR/PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CHRISTOPHER MARTIN</PersonNm>
          <USAddress>
            <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85718</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR/TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOHN SCHAEFER</PersonNm>
          <USAddress>
            <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85718</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SHAUN KIRKPATRICK</PersonNm>
          <USAddress>
            <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85718</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOHN MCINTYRE</PersonNm>
          <USAddress>
            <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85718</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>REBECCA BUESCHER</PersonNm>
          <USAddress>
            <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85718</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JEFF JACOB</PersonNm>
          <USAddress>
            <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85718</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</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>21064945</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>322148</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>21387093</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>21387093</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>320806</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>21066287</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>1053314</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>1053314</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>36346</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>36346</TotalTaxAmt>
        <DistributableBeforeAdjAmt>1016968</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>1016968</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>1016968</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>1690411</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>1690411</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>0</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>1690411</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>1016968</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>428899</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>1438468</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>5090539</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr1Amt>349247</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>7307153</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>1690411</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>1016968</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>673443</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>7980596</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>428899</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>7551697</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>1438468</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>5090539</ExcessFromYear3Amt>
        <ExcessFromYear1Amt>349247</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>673443</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMERICAN DIABETES ASSOCIATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3400 E SPEEDWAY SUITE 108</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85716</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TOUR FOR THE CURE</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CASCADE FOUNDATION OF SOUTHERN ARIZONA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 40397</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85717</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUPPORT FOUNDATION CHARITABLE PROJECTS</GrantOrContributionPurposeTxt>
          <Amt>750</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GOODWILL GOLF TOURNAMENT</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1696 W WINGATE PLACE</AddressLine1Txt>
            <CityNm>ORO VALLEY</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85737</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUPPORT GOODWILL'S CHARITABLE PROJECTS</GrantOrContributionPurposeTxt>
          <Amt>750</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>INTEGRATIVE TOUCH FOR KIDS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>8340 N THORNYDALE ROAD</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85741</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SERVING KIDS WITH SPECIAL MEDICAL NEEDS.</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>INTERNATIONAL FOUNDATION FOR RESEARCH IN EXPERIMENTAL ECONOMICS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2122 E CAMINO EL GANADO</AddressLine1Txt>
            <CityNm>TUSCON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85718</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUPPORT WORK IN EXPERIMENTAL ECONOMICS.</GrantOrContributionPurposeTxt>
          <Amt>500000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MED TECH INNOVATOR</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>10956 WEYBURN AVENUE SUITE 261</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90024</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GRANT TO SUPPORT MEDICAL DEVICE, DIGITAL HEALTH AND DIAGNOSTIC COMPANY INNOVATION.</GrantOrContributionPurposeTxt>
          <Amt>400000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SARSEF - SOUTHERN ARIZONA RESEARCH SCIENCE AND ENGINEERING FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3247 N CHRISTMAS AVE</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85716</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUPPORT FOUNDATION CHARITABLE PROJECTS.</GrantOrContributionPurposeTxt>
          <Amt>3300</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TUCSON BREAKFAST LIONS CLUB</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>P O BOX 12512</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85732</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CAMPS FOR DISABLED CHILDREN DONATION</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNIVERSITY OF ARIZONA FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1111 N CHERRY AVENUE</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>857210109</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUPPORT FOUNDATION CHARITABLE PROJECTS</GrantOrContributionPurposeTxt>
          <Amt>18000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNIVERSITY OF ARIZONA FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1111 N CHERRY AVENUE</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>857210109</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SOLAR ENERGY RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>250000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNIVERSITY OF ARIZONA FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1111 N CHERRY AVE</AddressLine1Txt>
            <CityNm>TUCSON</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>857210109</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>ROBERT LUSCH INITIATIVE GRANTS</GrantOrContributionPurposeTxt>
          <Amt>500000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>1687300</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>280363</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>1023167</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>1303530</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>1303530</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>RESEARCH CORPORATION TECHNOLOGIES</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>6440 N SWAN ROAD SUITE 200</AddressLine1Txt>
          <CityNm>TUCSON</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>85718</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>3416060</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>1</ContributorNum>
        <NoncashPropertyDesc>FMV OF 13,625 SHARES OF VANGUARD SP500(SYMBOL VOO)</NoncashPropertyDesc>
        <FairMarketValueAmt>3416060</FairMarketValueAmt>
        <ReceivedDt>2017-12-31</ReceivedDt>
      </NonCashPropertyContributionGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>5495</Amt>
        <NetInvestmentIncomeAmt>2748</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2747</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>CAPITAL GROUP CORE BOND FUND 236,564 SHARES</StockNm>
        <EOYBookValueAmt>2939879</EOYBookValueAmt>
        <EOYFMVAmt>2939879</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SHORT TERM BOND FD OF AMERICA INC CL F2 80,426 SHARES</StockNm>
        <EOYBookValueAmt>979877</EOYBookValueAmt>
        <EOYFMVAmt>979877</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>EUROPACIFIC GROWTH FUND CL F2 29,160 SHARES</StockNm>
        <EOYBookValueAmt>1763958</EOYBookValueAmt>
        <EOYFMVAmt>1763958</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FUNDAMENTAL INVESTORS CL F2 61,285 SHARES</StockNm>
        <EOYBookValueAmt>4373009</EOYBookValueAmt>
        <EOYFMVAmt>4373009</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GROWTH FUND OF AMERICA CL F2 59,150 SHARES</StockNm>
        <EOYBookValueAmt>3305864</EOYBookValueAmt>
        <EOYFMVAmt>3305864</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INTERNATIONAL GROWTH FUND &amp; INCOME FUND CL F2 46,344 SHARES</StockNm>
        <EOYBookValueAmt>1735005</EOYBookValueAmt>
        <EOYFMVAmt>1735005</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NEW PERSPECTIVE FUND CL F2 60,745 SHARES</StockNm>
        <EOYBookValueAmt>2822691</EOYBookValueAmt>
        <EOYFMVAmt>2822691</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NEW WORLD FUND CL F2 25,616 SHARES</StockNm>
        <EOYBookValueAmt>1792105</EOYBookValueAmt>
        <EOYFMVAmt>1792105</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SMALLCAP WORLD FUND CL F2 28,376 SHARES</StockNm>
        <EOYBookValueAmt>1756205</EOYBookValueAmt>
        <EOYFMVAmt>1756205</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LACOSTE ROMBERG SCINTREX 1,680,000 SHARES</StockNm>
        <EOYBookValueAmt>1414029</EOYBookValueAmt>
        <EOYFMVAmt>1414029</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>17954</LegalFeesAmt>
        <NetInvestmentIncomeAmt>17954</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>BANK ACCOUNT CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>728</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>364</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>364</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>354</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>354</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="RetDoc2049700001">
      <OtherIncreasesDetail>
        <Desc>UNREALIZED GAINS/LOSSES ON INVESTMENTS CARRIED AT FMV</Desc>
        <Amt>2665002</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>PORTFOLIO MANAGEMENT FEES</CategoryTxt>
        <Amt>28011</Amt>
        <NetInvestmentIncomeAmt>28011</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>CONSULTING</CategoryTxt>
        <Amt>4630</Amt>
        <NetInvestmentIncomeAmt>4630</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>13024</Amt>
        <NetInvestmentIncomeAmt>13024</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>EXCISE TAXES</CategoryTxt>
        <Amt>30594</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>