﻿<?xml version="1.0" encoding="utf-8"?>
<Return returnVersion="2016v3.0" xsi:schemaLocation="http://www.irs.gov/efile" xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2017-05-14T10:58:49-07:00</ReturnTs>
    <TaxPeriodEndDt>2016-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>STEVEN MOSKOWITZ CPA PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>660 WHITE PLAINS RD 5TH FL</AddressLine1Txt>
        <CityNm>TARRYTOWN</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>105915187</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2016-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>200703467</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>SBW FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>SBWF</BusinessNameControlTxt>
      <PhoneNum>8603460902</PhoneNum>
      <USAddress>
        <AddressLine1Txt>C/O CHRISTINA WASCH-190 COLEMAN RD</AddressLine1Txt>
        <CityNm>MIDDLETOWN</CityNm>
        <StateAbbreviationCd>CT</StateAbbreviationCd>
        <ZIPCd>06457</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>CHRISTINA B WASCH</PersonNm>
      <PersonTitleTxt>OFFICER</PersonTitleTxt>
      <PhoneNum>8603460902</PhoneNum>
      <SignatureDt>2017-05-14</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>STEVEN MOSKOWITZ CPA</PreparerPersonNm>
      <PhoneNum>9143666714</PhoneNum>
      <PreparationDt>2017-05-14</PreparationDt>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>100.33.116.66</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2017-05-14</IPDt>
      <IPTm>10:58:31</IPTm>
      <IPTimezoneCd>PD</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>CFA57632DE25DE7CF0B0D769D2A08446DC412287</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>5A8BBE48365D5C18190FAAA9D0969C7947A77340</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2016</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990PF documentId="00000001" referenceDocumentName="ReasonableCauseExplanation GeneralExplanationAttachment">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>1134600</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>1093</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>1093</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>13713</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>13713</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt referenceDocumentId="00000003" referenceDocumentName="GainLossFromSaleOtherAssetsSchedule">172433</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>354245</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>172433</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="00000006" referenceDocumentName="OtherIncomeSchedule2">9979</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>1623</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>197218</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>188862</TotalNetInvstIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="00000002" referenceDocumentName="AccountingFeesSchedule">3950</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>1975</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>1975</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="00000007" referenceDocumentName="OtherProfessionalFeesSchedule">3723</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>3723</OtherProfFeesNetInvstIncmAmt>
        <InterestRevAndExpnssAmt>40</InterestRevAndExpnssAmt>
        <InterestNetInvstIncmAmt>40</InterestNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="00000008" referenceDocumentName="TaxesSchedule">4403</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>517</TaxesNetInvstIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="00000005" referenceDocumentName="AmortizationSchedule OtherExpensesSchedule">271</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>271</OtherExpensesNetInvstIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>12387</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>6526</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>1975</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>296086</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>296086</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>308473</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>6526</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>298061</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-111255</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>182336</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>2724</CashBOYAmt>
        <CashEOYAmt>6683</CashEOYAmt>
        <CashEOYFMVAmt>6683</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>107231</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>18824</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>18824</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>636610</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="00000004" referenceDocumentName="InvestmentsCorpStockSchedule">609803</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>1109093</CorporateStockEOYFMVAmt>
        <TotalAssetsBOYAmt>746565</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>635310</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>1134600</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <RetainedEarningBOYAmt>746565</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>635310</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>746565</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>635310</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>746565</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>635310</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>746565</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-111255</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>635310</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>635310</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN FROM PASS THRU ENTITIES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-01-01</AcquiredDt>
          <SoldDt>2016-12-31</SoldDt>
          <GrossSalesPriceAmt>826</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>0</CostOrOtherBasisAmt>
          <GainOrLossAmt>826</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>826</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>STATE STREET SECURITIES TRANSACTIONS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-01-01</AcquiredDt>
          <SoldDt>2016-12-31</SoldDt>
          <GrossSalesPriceAmt>353419</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>181812</CostOrOtherBasisAmt>
          <GainOrLossAmt>171607</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>171607</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>172433</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>79950</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>1399920</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.057110</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>76445</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>1469537</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.052020</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>81479</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>1348327</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.060430</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>76432</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>1181459</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.064693</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>67061</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>1172838</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.057178</DistributionYr5Rt>
        <TotalDistributionRt>0.291431</TotalDistributionRt>
        <AverageDistributionRt>0.058286</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>1285281</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>74914</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>1823</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>76737</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>298061</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>1823</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>1823</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>1823</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>1438</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>1438</TotalPaymentsAndCreditsAmt>
        <OriginalReturnTaxPaidAmt>1438</OriginalReturnTaxPaidAmt>
        <TaxDueAmt>385</TaxDueAmt>
        <AppliedToESTaxAmt>0</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>CT</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>CHRISTINA WASCH</IndividualWithBooksNm>
        <PhoneNum>8603461570</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>190 COLEMAN ROAD</AddressLine1Txt>
          <CityNm>MIDDLETOWN</CityNm>
          <StateAbbreviationCd>CT</StateAbbreviationCd>
          <ZIPCd>065475065</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>WILLIAM K WASCH</PersonNm>
          <USAddress>
            <AddressLine1Txt>150 COLEMAN ROAD</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CHRISTINA WASCH</PersonNm>
          <USAddress>
            <AddressLine1Txt>190 COLEMAN ROAD</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</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>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>1108171</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>196683</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>1304854</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>1304854</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>19573</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>1285281</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>64264</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>64264</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>1823</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>1823</TotalTaxAmt>
        <DistributableBeforeAdjAmt>62441</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>62441</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>62441</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>298061</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>298061</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>1823</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>296238</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>62441</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr3Amt>47680</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>3828</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>79950</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>131458</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>298061</QualifyingDistributionsAmt>
        <RemainingDistriFromCorpusAmt>298061</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>62441</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>62441</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>367078</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>367078</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear1Amt>69017</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>298061</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>SUSAN B WASCH</ContributingManagerNm>
        <ShareholderManagerNm>NA</ShareholderManagerNm>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>CHRISTINA WASCH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>190 COLEMAN ROAD</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>064575065</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>8603460902</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>N/A</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>N/A</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>N/A</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CHURCH OF THE HOLY TRINITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>381 MAIN STREET</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RELIGIOUS INSTITUTIONFURTHER PURPOSE OF</GrantOrContributionPurposeTxt>
          <Amt>18000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MIDDLETOWN GARDEN CLUB</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>275 BLUE ROAD</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROGRAMS IN THE FIELDS OFTO SUPPORT EDUCATIONALCONSERVATION AND CIVIC IMPROVEMENT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>WESLEYAN UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>318 HIGH STREET</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>WASCH CENTERTO SUPPORT THEENDOWMENT</GrantOrContributionPurposeTxt>
          <Amt>265636</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CT PUBLIC BROADCASTING NETWORK</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1049 ASYLUM AVENUE</AddressLine1Txt>
            <CityNm>HARTFORD</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06105</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC BROADCASTINGFURTHER PURPOSE OF</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MIDDLESEX MEMORIAL HOSPITAL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>28 CRESCENT STREET</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>MEDICINEFURTHER PURPOSE OF</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNITED WAY OF MIDDLESEX COUNTY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>100 RIVERVIEW CENTER</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>COMMUNITY SERVICEFURTHER PURPOSE OFPROJECTS</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>COLUMBIA GRADUATE SCHOOL OF BUSINESS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3022 BROADWAY ROOM 101</AddressLine1Txt>
            <CityNm>NYC</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10027</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATIONFURTHER PURPOSE OF</GrantOrContributionPurposeTxt>
          <Amt>250</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CONNECTICUT FUND FOR THE ENVIRONMENT</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>142 TEMPLE STREET 3RD FLOOR</AddressLine1Txt>
            <CityNm>NEW HAVEN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06510</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>IMPROVING LAND, AIR ANDFURTHER PURPOSE OFWATER OF CT. AND L.I. SOUND</GrantOrContributionPurposeTxt>
          <Amt>250</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CONCORDIA COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>171 WHITE PLAINS ROAD</AddressLine1Txt>
            <CityNm>BRONXVILLE</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10708</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>WASCH KLEMMTO FUND THE HELENSCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>JONAH CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 854</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>&amp; PRESERVING ECOLOGICALLYFURTHER PURPOSE OF RESTORINGAREAS IN MIDDLETOWN CT</GrantOrContributionPurposeTxt>
          <Amt>700</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MIDDLESEX LAND TRUST</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>27 WASHINGTON STREET</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>&amp; PRESERVING ECOLOGICALLYFURTHER PURPOSE OF RESTORINGAREAS IN MIDDLETOWN CT</GrantOrContributionPurposeTxt>
          <Amt>250</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <Amt>0</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MIDDLESEX COMMUNITY FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>211 SOUTH MAIN STREET</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06457</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>USING RESOURCES TO SUPPORTFURTHER PURPOSE OFPOSITIVE IMPACT IN COMMUNITY</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>296086</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>1093</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>13713</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <OtherInvestmentIncmPartVIIGrp>
          <ExclusionCd>15</ExclusionCd>
          <ExclusionAmt>766</ExclusionAmt>
        </OtherInvestmentIncmPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>172433</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>FROM PASS THRU ENTITY</Desc>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>857</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>188862</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>188862</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="00000002">
      <AccountingFeesDetail>
        <CategoryTxt>STEVEN MOSKOWITZ CPA PC ACCOUNTING</CategoryTxt>
        <Amt>3950</Amt>
        <NetInvestmentIncomeAmt>1975</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1975</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <GainLossSaleOtherAssetsSch documentId="00000003">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>CAPITAL GAIN FROM PASS THRU ENTITIES</AssetDesc>
        <HowAcquiredTxt>Purchased</HowAcquiredTxt>
        <SoldDt>2016-12</SoldDt>
        <GrossSalesPriceAmt>826</GrossSalesPriceAmt>
        <TotalNetAmt>826</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>STATE STREET SECURITIES TRANSACTIONS</AssetDesc>
        <HowAcquiredTxt>Purchased</HowAcquiredTxt>
        <SoldDt>2016-07</SoldDt>
        <GrossSalesPriceAmt>353419</GrossSalesPriceAmt>
        <BasisAmt>181812</BasisAmt>
        <TotalNetAmt>171607</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpStockSchedule documentId="00000004">
      <InvestmentsCorporateStockGrp>
        <StockNm>PORTFOLIO INVESTMENTS</StockNm>
        <EOYBookValueAmt>609803</EOYBookValueAmt>
        <EOYFMVAmt>1109093</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherExpensesSchedule documentId="00000005">
      <OtherExpensesScheduleGrp>
        <Desc>PORTFOLIO DEDUCTIONS FROM PASS THRU ENTITY</Desc>
        <RevenueAndExpensesPerBooksAmt>179</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>179</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ADR FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>92</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>92</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="00000006">
      <OtherIncomeDetail>
        <Desc>ORDINARY INCOME FROM PASS THRU ENTITY</Desc>
        <RevenueAndExpensesPerBooksAmt>857</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>857</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>ROYALTIES, NET</Desc>
        <RevenueAndExpensesPerBooksAmt>766</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>766</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>UNREALIZED GAIN</Desc>
        <RevenueAndExpensesPerBooksAmt>8356</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="00000007">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>STATE STREET BANK CUSTODY FEE</CategoryTxt>
        <Amt>586</Amt>
        <NetInvestmentIncomeAmt>586</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>STATE STREET BANK INV ADVISORY FEES</CategoryTxt>
        <Amt>3137</Amt>
        <NetInvestmentIncomeAmt>3137</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="00000008">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES</CategoryTxt>
        <Amt>3886</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>517</Amt>
        <NetInvestmentIncomeAmt>517</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>