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        <StateAbbreviationCd>NY</StateAbbreviationCd>
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      <PersonTitleTxt>president</PersonTitleTxt>
      <PhoneNum>8008391754</PhoneNum>
      <SignatureDt>2017-04-25</SignatureDt>
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    <PreparerPersonGrp>
      <PreparerPersonNm>Jeffrey D Haskell</PreparerPersonNm>
      <PTIN>P01345770</PTIN>
      <PhoneNum>8008391754</PhoneNum>
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          <TitleTxt>Pres / Dir / Treas</TitleTxt>
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          <PersonNm>Victoria Hauser Winnick</PersonNm>
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          <PersonNm>Amy Knudsen</PersonNm>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AIESEC LIFE INC</BusinessNameLine1Txt>
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            <CityNm>BROOKLYN</CityNm>
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          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
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          <GrantOrContributionPurposeTxt>the JoAnn Boland Scholarship Fund and general support</GrantOrContributionPurposeTxt>
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        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CALIFORNIA SCHOOL OF MECHANICAL ARTS - LICK WILMER</BusinessNameLine1Txt>
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            <AddressLine1Txt>755 OCEAN AVE</AddressLine1Txt>
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        <EOYBookValueAmt>9347</EOYBookValueAmt>
        <EOYFMVAmt>8221</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BANCO ITAU HOLDING FINANCIERA</StockNm>
        <EOYBookValueAmt>6548</EOYBookValueAmt>
        <EOYFMVAmt>8142</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BANCO MACRO BANSUD</StockNm>
        <EOYBookValueAmt>7298</EOYBookValueAmt>
        <EOYFMVAmt>8366</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BANK OF AMERICA CORP</StockNm>
        <EOYBookValueAmt>96977</EOYBookValueAmt>
        <EOYFMVAmt>51051</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BRITISH AMERICAN TOBACCO PLC</StockNm>
        <EOYBookValueAmt>8279</EOYBookValueAmt>
        <EOYFMVAmt>8450</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CEMEX SA DE CV A ADS</StockNm>
        <EOYBookValueAmt>5161</EOYBookValueAmt>
        <EOYFMVAmt>5019</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CHINA CONSTRUCT UNSPON ADR</StockNm>
        <EOYBookValueAmt>7108</EOYBookValueAmt>
        <EOYFMVAmt>7813</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CHINA MOBILE HGK LTD</StockNm>
        <EOYBookValueAmt>10611</EOYBookValueAmt>
        <EOYFMVAmt>9175</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CHUNGHWA TELECOM</StockNm>
        <EOYBookValueAmt>10447</EOYBookValueAmt>
        <EOYFMVAmt>9623</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CNOOC LTD ADS</StockNm>
        <EOYBookValueAmt>7008</EOYBookValueAmt>
        <EOYFMVAmt>6818</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>COHEN AND STEERS REALTY SHARES</StockNm>
        <EOYBookValueAmt>169583</EOYBookValueAmt>
        <EOYFMVAmt>176363</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CREDICORP LTD</StockNm>
        <EOYBookValueAmt>9051</EOYBookValueAmt>
        <EOYFMVAmt>11840</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CYPRESS SEMICONDUCTR</StockNm>
        <EOYBookValueAmt>16130</EOYBookValueAmt>
        <EOYFMVAmt>58287</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DR. REDDY'S LAB LTD</StockNm>
        <EOYBookValueAmt>4888</EOYBookValueAmt>
        <EOYFMVAmt>4528</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DYNEX CAPITAL INC REIT</StockNm>
        <EOYBookValueAmt>211220</EOYBookValueAmt>
        <EOYFMVAmt>150040</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FOMENTO ECONOMICO MEXICANO</StockNm>
        <EOYBookValueAmt>9548</EOYBookValueAmt>
        <EOYFMVAmt>8002</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GENERAL ELECTRIC CO</StockNm>
        <EOYBookValueAmt>59083</EOYBookValueAmt>
        <EOYFMVAmt>94800</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GRUPO AEROPORTUARIO DEL CENTRO</StockNm>
        <EOYBookValueAmt>9210</EOYBookValueAmt>
        <EOYFMVAmt>8808</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GRUPO FIN ADR</StockNm>
        <EOYBookValueAmt>11997</EOYBookValueAmt>
        <EOYFMVAmt>10068</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HDFC BANK LTD ADR</StockNm>
        <EOYBookValueAmt>9418</EOYBookValueAmt>
        <EOYFMVAmt>16990</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INFOSYS TECH LTD SPD ADR</StockNm>
        <EOYBookValueAmt>4369</EOYBookValueAmt>
        <EOYFMVAmt>3485</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INTEL CORP</StockNm>
        <EOYBookValueAmt>43040</EOYBookValueAmt>
        <EOYFMVAmt>72540</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES BARCLAYS TIPS BOND FUN</StockNm>
        <EOYBookValueAmt>495943</EOYBookValueAmt>
        <EOYFMVAmt>565850</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES HIGH DIVIDEND EQUITY F</StockNm>
        <EOYBookValueAmt>111304</EOYBookValueAmt>
        <EOYFMVAmt>123375</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES MSCI EMERGING MARKETS</StockNm>
        <EOYBookValueAmt>255587</EOYBookValueAmt>
        <EOYFMVAmt>212434</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES MSCI PHILIPPINES INV</StockNm>
        <EOYBookValueAmt>7684</EOYBookValueAmt>
        <EOYFMVAmt>6646</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES RUSSELL 2000</StockNm>
        <EOYBookValueAmt>180540</EOYBookValueAmt>
        <EOYFMVAmt>210626</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>JD.COM, INC</StockNm>
        <EOYBookValueAmt>5432</EOYBookValueAmt>
        <EOYFMVAmt>5978</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>KASIKORNBANK PUB CO LTD ADR CM</StockNm>
        <EOYBookValueAmt>6829</EOYBookValueAmt>
        <EOYFMVAmt>6698</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>KOREA ELECTRIC PW CP</StockNm>
        <EOYBookValueAmt>4950</EOYBookValueAmt>
        <EOYFMVAmt>3604</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MARKET VECTORS VIETNAM ETF</StockNm>
        <EOYBookValueAmt>8319</EOYBookValueAmt>
        <EOYFMVAmt>5998</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MERCADOLIBRE, INC</StockNm>
        <EOYBookValueAmt>7692</EOYBookValueAmt>
        <EOYFMVAmt>7026</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NASPERS LTD N SPONS ADR</StockNm>
        <EOYBookValueAmt>4573</EOYBookValueAmt>
        <EOYFMVAmt>5117</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NIKE INC-CL B</StockNm>
        <EOYBookValueAmt>21568</EOYBookValueAmt>
        <EOYFMVAmt>81328</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>OIL CO LUKOIL PJSC SPON ADR RE</StockNm>
        <EOYBookValueAmt>9012</EOYBookValueAmt>
        <EOYFMVAmt>12908</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PETROLEO BRASILEIRO</StockNm>
        <EOYBookValueAmt>3414</EOYBookValueAmt>
        <EOYFMVAmt>3185</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PFIZER INC</StockNm>
        <EOYBookValueAmt>15260</EOYBookValueAmt>
        <EOYFMVAmt>25594</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PHILIP MORRIS INTL</StockNm>
        <EOYBookValueAmt>104131</EOYBookValueAmt>
        <EOYFMVAmt>182980</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>POSCO</StockNm>
        <EOYBookValueAmt>7511</EOYBookValueAmt>
        <EOYFMVAmt>7357</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PT TELEKOM. IND. TBK ADR</StockNm>
        <EOYBookValueAmt>5570</EOYBookValueAmt>
        <EOYFMVAmt>4957</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SASOL LTD</StockNm>
        <EOYBookValueAmt>5990</EOYBookValueAmt>
        <EOYFMVAmt>4717</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SBERBANK SPONSORED ADR</StockNm>
        <EOYBookValueAmt>3190</EOYBookValueAmt>
        <EOYFMVAmt>5211</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SELECT SECTOR SPDR UTILITIES</StockNm>
        <EOYBookValueAmt>210454</EOYBookValueAmt>
        <EOYFMVAmt>242850</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SILICON MOTION TECHNOLOGY CORP</StockNm>
        <EOYBookValueAmt>4730</EOYBookValueAmt>
        <EOYFMVAmt>6372</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SK TELECOM ADS ADS</StockNm>
        <EOYBookValueAmt>8283</EOYBookValueAmt>
        <EOYFMVAmt>6793</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SOUTHERN COPPER CORP</StockNm>
        <EOYBookValueAmt>8011</EOYBookValueAmt>
        <EOYFMVAmt>8943</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SPDR BARCLAYS CAPITAL HYB ETF</StockNm>
        <EOYBookValueAmt>678233</EOYBookValueAmt>
        <EOYFMVAmt>656099</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SUNPOWER CORP</StockNm>
        <EOYBookValueAmt>28585</EOYBookValueAmt>
        <EOYFMVAmt>3219</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TAIWAN SEMICONDUCTOR MFG CO LT</StockNm>
        <EOYBookValueAmt>14569</EOYBookValueAmt>
        <EOYFMVAmt>18975</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TAL EDUCATION GROUP</StockNm>
        <EOYBookValueAmt>2552</EOYBookValueAmt>
        <EOYFMVAmt>4911</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TATA MOTORS LTD ADS</StockNm>
        <EOYBookValueAmt>4299</EOYBookValueAmt>
        <EOYFMVAmt>4987</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TENCENT HOLDINGS LIMITED</StockNm>
        <EOYBookValueAmt>10811</EOYBookValueAmt>
        <EOYFMVAmt>14290</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>YANDEX N V</StockNm>
        <EOYBookValueAmt>8430</EOYBookValueAmt>
        <EOYFMVAmt>8555</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>YUM CHINA HOLDINGS INC</StockNm>
        <EOYBookValueAmt>6938</EOYBookValueAmt>
        <EOYFMVAmt>6399</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>RUBICON MORTGAGE FUND LLC</CategoryOrItemTxt>
        <BookValueAmt>402247</BookValueAmt>
        <EOYFMVAmt>403198</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>Administrative Fees</Desc>
        <RevenueAndExpensesPerBooksAmt>27542</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>27542</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Bank Charges</Desc>
        <RevenueAndExpensesPerBooksAmt>215</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>215</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>State or Local Filing Fees</Desc>
        <RevenueAndExpensesPerBooksAmt>25</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>25</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>K-1 Inc/Loss RUBICON MORTGAGE FUND LLC</Desc>
        <RevenueAndExpensesPerBooksAmt>27735</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>30105</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Investment Management Services</CategoryTxt>
        <Amt>1731</Amt>
        <NetInvestmentIncomeAmt>1731</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>990-PF Estimated Tax for 2016</CategoryTxt>
        <Amt>600</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Foreign Tax Paid</CategoryTxt>
        <Amt>557</Amt>
        <NetInvestmentIncomeAmt>557</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>