﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2017v2.3">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2018-11-01T11:35:03-05:00</ReturnTs>
    <TaxPeriodEndDt>2017-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>271329764</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>KVLSM LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>415 CROSSWAYS PARK DR STE C</AddressLine1Txt>
        <CityNm>WOODBURY</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>11797</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2017-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>060952015</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>RENEE B FISHER FOUNDATION INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>RENE</BusinessNameControlTxt>
      <PhoneNum>5164874070</PhoneNum>
      <USAddress>
        <AddressLine1Txt>C/O CP FISHER PO BOX 366</AddressLine1Txt>
        <CityNm>GREEN FARMS</CityNm>
        <StateAbbreviationCd>CT</StateAbbreviationCd>
        <ZIPCd>06838</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>CP FISHER</PersonNm>
      <PersonTitleTxt>DIRECTOR</PersonTitleTxt>
      <PhoneNum>5164874070</PhoneNum>
      <SignatureDt>2018-05-14</SignatureDt>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>JAY LIPNER CPA</PreparerPersonNm>
      <PTIN>P00749201</PTIN>
      <PhoneNum>5162940400</PhoneNum>
      <PreparationDt>2018-09-18</PreparationDt>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>68.195.230.74</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2018-11-01</IPDt>
      <IPTm>11:35:03</IPTm>
      <IPTimezoneCd>CD</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>1AEB67C003FB2CCDD5BC7FF7D18AFCECB504EEA7</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>A482714643EEF80BC7F7F1DB82C856185E919C90</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2017</TaxYr>
    <BuildTS>2018-06-14 16:35:46Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990PF documentId="RetDoc6">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>17024958</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>3337</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>3337</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>3337</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>304522</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>304522</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>304522</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt referenceDocumentId="RetDoc2">796599</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>1626228</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>9508</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc5">14217</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>14217</OtherIncomeNetInvstIncmAmt>
        <OtherIncomeAdjNetIncmAmt>14217</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>1118675</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>331584</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>322076</TotalAdjNetIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc1">9750</AccountingFeesRevAndExpnssAmt>
        <OccupancyRevAndExpnssAmt>9000</OccupancyRevAndExpnssAmt>
        <TravConfMeetingRevAndExpnssAmt>2261</TravConfMeetingRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc4">151118</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>125447</OtherExpensesNetInvstIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>172129</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>125447</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>758917</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>758917</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>931046</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>125447</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>758917</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>187629</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>206137</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>322076</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>319813</CashBOYAmt>
        <CashEOYAmt>514215</CashEOYAmt>
        <CashEOYFMVAmt>514215</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>1570346</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>2167613</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>2167613</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>7132042</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc3">6528002</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>14343130</USGovtObligationsEOYFMVAmt>
        <TotalAssetsBOYAmt>9022201</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>9209830</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>17024958</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
        <UnrestrictedBOYAmt>9022201</UnrestrictedBOYAmt>
        <UnrestrictedEOYAmt>9209830</UnrestrictedEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>9022201</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>9209830</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>9022201</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>9209830</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>9022201</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>187629</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>9209830</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>9209830</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapitalGainNetIncomeAmt>9508</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>788302</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>14875092</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.052995</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>924402</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>16271574</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.056811</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>780198</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>16415387</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.047528</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>743679</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>14644366</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.050783</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>643054</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>13108008</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.049058</DistributionYr5Rt>
        <TotalDistributionRt>0.257175</TotalDistributionRt>
        <AverageDistributionRt>0.051435</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>16499623</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>848658</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>2061</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>850719</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>758917</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>4123</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>4123</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>4123</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>10463</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>10463</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>6340</OverpaymentAmt>
        <AppliedToESTaxAmt>6340</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>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>CP FISHER</IndividualWithBooksNm>
        <PhoneNum>5164874070</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>PO BOX 365</AddressLine1Txt>
          <CityNm>GREENS FARMS</CityNm>
          <StateAbbreviationCd>CT</StateAbbreviationCd>
          <ZIPCd>06436</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>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>true</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd>false</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>DR SHELLEY FISHKIN</PersonNm>
          <USAddress>
            <AddressLine1Txt>807 SAN FRANCISCO TERRACE</AddressLine1Txt>
            <CityNm>STANFORD</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94305</ZIPCd>
          </USAddress>
          <TitleTxt>PRES &amp; DIR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>DR JAMES FISHKIN</PersonNm>
          <USAddress>
            <AddressLine1Txt>807 SAN FRANCISCO TERRACE</AddressLine1Txt>
            <CityNm>STANFORD</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94305</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CP FISHER</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 365</AddressLine1Txt>
            <CityNm>GREENS FARMS</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06436</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>2661233</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>14089653</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>16750886</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>16750886</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>251263</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>16499623</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>824981</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>824981</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>4123</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>4123</TotalTaxAmt>
        <DistributableBeforeAdjAmt>820858</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>820858</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>820858</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>758917</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>758917</QualifyingDistributionsAmt>
        <AdjustedQualifyingDistriAmt>758917</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>820858</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>184353</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>758917</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>184353</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>574564</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>246294</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>CAROL FISHER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 366</AddressLine1Txt>
            <CityNm>GREEN FARMS</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06838</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>2032550707</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>WRITTEN APPLICATIONS</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NONE</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>NONE</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMERICAN JEWISH WORLD SERVICE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>45 W 36TH</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10018</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>26000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>COMMUNITY FOUNDATION OF G</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>70 AUDUBON ST</AddressLine1Txt>
            <CityNm>NEW HAVEN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06510</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>310000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FEMINIST MAJORITY FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>433 S BEVERLY DR</AddressLine1Txt>
            <CityNm>BEVERLY HILLS</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90212</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FRIENDS OF THE BANCROFT LIBRARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>UNIVERSITY OF CALIFORNIA</AddressLine1Txt>
            <CityNm>BERKELEY</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94720</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MEDIA UPPER PROVIDENCE LIBRARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1 EAST FRONT STREET</AddressLine1Txt>
            <CityNm>MEDIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19603</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>7500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PEQUOT LIBRARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>720 PEQUOT AVE</AddressLine1Txt>
            <CityNm>SOUTHPORT</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06890</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>26000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PORT ANGELES FRIENDS OF THE LIBRARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2210 SOUTH PEABODY STREET</AddressLine1Txt>
            <CityNm>PORT ANGELES</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98362</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>1525</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SEATTLE PUBLIC LIBRARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1000 FOURTH AVE</AddressLine1Txt>
            <CityNm>SEATTLE</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98104</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>4000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SILICON VALLEY COMMUNITY FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2440 WEST EL CAMINO REAL</AddressLine1Txt>
            <CityNm>MT VIEW</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94040</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>310000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FRIENDS OF THE JV FLETCHER LIBRAR</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 4122</AddressLine1Txt>
            <CityNm>WESTFORD</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>01886</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>980</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FRIENDS OF THE LIBRARY OF HAWAII</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>99-1132 IWAENA STREET</AddressLine1Txt>
            <CityNm>AIEA</CityNm>
            <StateAbbreviationCd>HI</StateAbbreviationCd>
            <ZIPCd>96701</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>7300</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ABERDEEN FRIENDS OF HARTFORD COUNTY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>21 FRANKLIN STREET</AddressLine1Txt>
            <CityNm>ABERDEEN</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21001</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>512</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMERICAN COUNCIL OF LEARNED SOCIETI</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>633 3RD AVE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10017</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CHARLESTON FRIENDS OF THE LIBRARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>68 CALHOUN ST</AddressLine1Txt>
            <CityNm>CHARLESTON</CityNm>
            <StateAbbreviationCd>SC</StateAbbreviationCd>
            <ZIPCd>29401</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>3100</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>YALE ALUMNI FUND</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>157 CHURCH STREET</AddressLine1Txt>
            <CityNm>NEW HAVEN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06510</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>758917</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>3337</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>304522</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <OtherInvestmentIncmPartVIIGrp>
          <RelatedOrExemptFunctionIncmAmt>14217</RelatedOrExemptFunctionIncmAmt>
        </OtherInvestmentIncmPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>796599</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>307859</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>810816</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>1118675</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>
    <AccountingFeesSchedule documentId="RetDoc1">
      <AccountingFeesDetail>
        <CategoryTxt>LIPNER, SOFFERMAN &amp;CO, LLP</CategoryTxt>
        <Amt>9750</Amt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <GainLossSaleOtherAssetsSch documentId="RetDoc2">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>1800FLOWERS.COM</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>30601</GrossSalesPriceAmt>
        <BasisAmt>26147</BasisAmt>
        <TotalNetAmt>4454</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>AIRCASTLE LTD</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>43975</GrossSalesPriceAmt>
        <BasisAmt>18940</BasisAmt>
        <TotalNetAmt>25035</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ALCOA CORPORATION</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>18995</GrossSalesPriceAmt>
        <TotalNetAmt>18995</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>AMEC FOSTER WHEELER PLC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>3519</GrossSalesPriceAmt>
        <TotalNetAmt>3519</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>AMERICAN CAMPUS COMMUNITIES INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>36736</GrossSalesPriceAmt>
        <BasisAmt>31549</BasisAmt>
        <TotalNetAmt>5187</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>APPLE INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>75108</GrossSalesPriceAmt>
        <BasisAmt>777</BasisAmt>
        <TotalNetAmt>74331</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>BGE CAPITAL TRUST II</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>7325</GrossSalesPriceAmt>
        <BasisAmt>7501</BasisAmt>
        <TotalNetAmt>-176</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>BLACKROCK CREDIT ALLOCATION INCOME</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>50368</GrossSalesPriceAmt>
        <BasisAmt>102885</BasisAmt>
        <TotalNetAmt>-52517</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>BORDERS GROUP INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <BasisAmt>6051</BasisAmt>
        <TotalNetAmt>-6051</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>BRISTOL MYERS SQUBB CO</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>42307</GrossSalesPriceAmt>
        <BasisAmt>15891</BasisAmt>
        <TotalNetAmt>26416</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>CANTEL MEDICAL CORP</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>77945</GrossSalesPriceAmt>
        <BasisAmt>4540</BasisAmt>
        <TotalNetAmt>73405</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>CHEMTURA CORP</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>1039</GrossSalesPriceAmt>
        <TotalNetAmt>1039</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>CIRCUIT CITY STORES INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <BasisAmt>1783</BasisAmt>
        <TotalNetAmt>-1783</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>COLGATE PALMOLIVE CO</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>64319</GrossSalesPriceAmt>
        <BasisAmt>25025</BasisAmt>
        <TotalNetAmt>39294</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>COMCAST CORP</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>52436</GrossSalesPriceAmt>
        <BasisAmt>10915</BasisAmt>
        <TotalNetAmt>41521</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>DARDEN RESTAURANTS INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>17676</GrossSalesPriceAmt>
        <BasisAmt>9416</BasisAmt>
        <TotalNetAmt>8260</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>DOW CHEMICAL COMPANY</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>53107</GrossSalesPriceAmt>
        <BasisAmt>7148</BasisAmt>
        <TotalNetAmt>45959</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>DSW INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>10333</GrossSalesPriceAmt>
        <BasisAmt>12635</BasisAmt>
        <TotalNetAmt>-2302</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>EDGEWELL PERS CARE CO</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>14364</GrossSalesPriceAmt>
        <TotalNetAmt>14364</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ELLIS PERRY INTERNATIONAL INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>412</GrossSalesPriceAmt>
        <BasisAmt>361</BasisAmt>
        <TotalNetAmt>51</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>EMERSON RADIO CORP NEW</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>1325</GrossSalesPriceAmt>
        <BasisAmt>3331</BasisAmt>
        <TotalNetAmt>-2006</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>EMPIRE DISTRICT ELECTRIC CO</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>17000</GrossSalesPriceAmt>
        <BasisAmt>12040</BasisAmt>
        <TotalNetAmt>4960</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>HESKA CORPORATION</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>30848</GrossSalesPriceAmt>
        <BasisAmt>2055</BasisAmt>
        <TotalNetAmt>28793</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ING GROEP N V</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>14650</GrossSalesPriceAmt>
        <BasisAmt>15799</BasisAmt>
        <TotalNetAmt>-1149</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>JPMORGAN CHINA REGION FUND</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>61486</GrossSalesPriceAmt>
        <BasisAmt>58639</BasisAmt>
        <TotalNetAmt>2847</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>LEAP WIRELESS INTL INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>3738</GrossSalesPriceAmt>
        <BasisAmt>20786</BasisAmt>
        <TotalNetAmt>-17048</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>LEUCADIA NATIONAL CORP</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>98941</GrossSalesPriceAmt>
        <BasisAmt>39716</BasisAmt>
        <TotalNetAmt>59225</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>L'OREAL CO</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>18130</GrossSalesPriceAmt>
        <BasisAmt>12205</BasisAmt>
        <TotalNetAmt>5925</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>LUXOTTICA GROUP SPA</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>22701</GrossSalesPriceAmt>
        <BasisAmt>20756</BasisAmt>
        <TotalNetAmt>1945</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>MONDELEZ INTERNATIONAL INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>60899</GrossSalesPriceAmt>
        <BasisAmt>42368</BasisAmt>
        <TotalNetAmt>18531</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>NEXVET BIOPHARMA PLC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>13440</GrossSalesPriceAmt>
        <BasisAmt>15132</BasisAmt>
        <TotalNetAmt>-1692</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>NIC INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>16305</GrossSalesPriceAmt>
        <BasisAmt>5842</BasisAmt>
        <TotalNetAmt>10463</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>NOMAD FOODS LTD</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>10735</GrossSalesPriceAmt>
        <BasisAmt>10169</BasisAmt>
        <TotalNetAmt>566</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>NOS SGPS SA</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>444</GrossSalesPriceAmt>
        <TotalNetAmt>444</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>OLIN CORPORATION</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>119258</GrossSalesPriceAmt>
        <BasisAmt>44331</BasisAmt>
        <TotalNetAmt>74927</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ONVIA INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>9000</GrossSalesPriceAmt>
        <BasisAmt>8186</BasisAmt>
        <TotalNetAmt>814</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ORION ENERGY SYSTEMS INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>2608</GrossSalesPriceAmt>
        <BasisAmt>11020</BasisAmt>
        <TotalNetAmt>-8412</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>PARATEK PHARMACEUTICALS INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>26939</GrossSalesPriceAmt>
        <BasisAmt>29892</BasisAmt>
        <TotalNetAmt>-2953</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>PFIZER INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>100169</GrossSalesPriceAmt>
        <BasisAmt>88030</BasisAmt>
        <TotalNetAmt>12139</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>PRAXAIR INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>58484</GrossSalesPriceAmt>
        <BasisAmt>21261</BasisAmt>
        <TotalNetAmt>37223</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>QIAGEN NV EUR</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>468</GrossSalesPriceAmt>
        <BasisAmt>10008</BasisAmt>
        <TotalNetAmt>-9540</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>RTS CYTORI THERAPEUTICS INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <BasisAmt>2670</BasisAmt>
        <TotalNetAmt>-2670</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SONOCO PRODUCTS CO</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>21440</GrossSalesPriceAmt>
        <BasisAmt>12000</BasisAmt>
        <TotalNetAmt>9440</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>TESORO CORPORATION</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>52749</GrossSalesPriceAmt>
        <BasisAmt>609</BasisAmt>
        <TotalNetAmt>52140</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>VCA INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>37200</GrossSalesPriceAmt>
        <BasisAmt>10408</BasisAmt>
        <TotalNetAmt>26792</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>WGL HOLDINGS INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>49194</GrossSalesPriceAmt>
        <BasisAmt>18497</BasisAmt>
        <TotalNetAmt>30697</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>WHOLE FOODS MARKET INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>168000</GrossSalesPriceAmt>
        <BasisAmt>32315</BasisAmt>
        <TotalNetAmt>135685</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>WTS ASTERIAS BIOTHERAPEUTICS INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>WTS KINDER MORGAN INC DEL</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>4</GrossSalesPriceAmt>
        <TotalNetAmt>4</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>WTS SEVENTY SEVEN ENERGY INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>WTS SEVENTY SEVEN ENGERGY INC</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsGovtObligationsSch documentId="RetDoc3">
      <StateLocalSecBookVlEOYAmt>6528002</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>14343130</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <OtherExpensesSchedule documentId="RetDoc4">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE</Desc>
        <RevenueAndExpensesPerBooksAmt>7151</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>CONSULTING FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>18520</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>CUSTODIAL FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>125447</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>125447</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc5">
      <OtherIncomeDetail>
        <Desc>OTHER INVESTMENT INCOME</Desc>
        <RevenueAndExpensesPerBooksAmt>14217</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>14217</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>14217</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
  </ReturnData>
</Return>