﻿<?xml version="1.0" encoding="utf-8"?>
<Return xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2016v3.0" xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2017-08-16T13:19:23-05:00</ReturnTs>
    <TaxPeriodEndDt>2016-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>540737372</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>PBMARES LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>575 S CHARLES STREET SUITE 402</AddressLine1Txt>
        <CityNm>BALTIMORE</CityNm>
        <StateAbbreviationCd>MD</StateAbbreviationCd>
        <ZIPCd>21201</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2016-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>522135634</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>The Shepard Family Private Foundation</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>c/o DLA Piper - MS Hellauer</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>SHEP</BusinessNameControlTxt>
      <PhoneNum>4105804172</PhoneNum>
      <USAddress>
        <AddressLine1Txt>6225 Smith Avenue</AddressLine1Txt>
        <CityNm>Baltimore</CityNm>
        <StateAbbreviationCd>MD</StateAbbreviationCd>
        <ZIPCd>212093600</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MS Hellauer</PersonNm>
      <PersonTitleTxt>Trustee</PersonTitleTxt>
      <PhoneNum>4105804172</PhoneNum>
      <SignatureDt>2017-05-22</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>Ricka E Neuman</PreparerPersonNm>
      <PTIN>P00631167</PTIN>
      <PhoneNum>4106596200</PhoneNum>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>209.10.80.132</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2017-05-22</IPDt>
      <IPTm>15:20:23</IPTm>
      <IPTimezoneCd>ED</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>6C9B1A35775087DBDB8A6D25ECA509C7F6C27838</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>BBDFCC2BF1A814CD0B4B5848AE1710452362B249</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2016</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="7">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>3458147</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>245214</ContriRcvdRevAndExpnssAmt>
        <DividendsRevAndExpnssAmt>90039</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>90039</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>6621</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>79198</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>6621</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>341874</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>96660</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>0</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstAdjNetIncmAmt>0</CompOfcrDirTrstAdjNetIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">2523</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesAdjNetIncmAmt>0</LegalFeesAdjNetIncmAmt>
        <LegalFeesDsbrsChrtblAmt>2523</LegalFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">8622</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>0</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>0</TaxesAdjNetIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">13320</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>13320</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesAdjNetIncmAmt>0</OtherExpensesAdjNetIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>0</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>24465</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>13320</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>0</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>2523</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>166000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>166000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>190465</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>13320</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>0</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>168523</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>151409</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>83340</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>108713</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>45529</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>45529</SavAndTempCashInvstEOYFMVAmt>
        <AcctRcvblAmt>3</AcctRcvblAmt>
        <AcctRcvblBOYAmt>13</AcctRcvblBOYAmt>
        <AcctRcvblEOYAmt>3</AcctRcvblEOYAmt>
        <AcctRcvblEOYFMVAmt>3</AcctRcvblEOYFMVAmt>
        <CorporateStockBOYAmt>1159870</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">1175984</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>3412615</CorporateStockEOYFMVAmt>
        <TotalAssetsBOYAmt>1268596</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>1221516</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>3458147</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <CapitalStockBOYAmt>0</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>0</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>1268596</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>1221516</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1268596</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>1221516</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1268596</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1221516</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1268596</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>151409</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>1420005</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="RetDoc2049800001">198489</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>1221516</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>.999 Aegon NV</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>1993-06-23</AcquiredDt>
          <SoldDt>2016-07-05</SoldDt>
          <GrossSalesPriceAmt>4</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>3</CostOrOtherBasisAmt>
          <GainOrLossAmt>1</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>.678 Aegon NV</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>1993-06-23</AcquiredDt>
          <SoldDt>2016-09-21</SoldDt>
          <GrossSalesPriceAmt>2</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>150 Dollar Tree Inc</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2009-10-06</AcquiredDt>
          <SoldDt>2016-10-04</SoldDt>
          <GrossSalesPriceAmt>11579</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2481</CostOrOtherBasisAmt>
          <GainOrLossAmt>9098</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>9098</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>850 Polaris Inds Inc</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <SoldDt>2016-12-22</SoldDt>
          <GrossSalesPriceAmt>67613</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>70091</CostOrOtherBasisAmt>
          <GainOrLossAmt>-2478</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-2478</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>6621</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>0</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>0</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>69828</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>3119409</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.022385</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>146738</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>2501169</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.058668</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>71599</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>723314</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.098987</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>50485</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>378628</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.133337</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>29500</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>266834</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.110556</DistributionYr5Rt>
        <TotalDistributionRt>0.423933</TotalDistributionRt>
        <AverageDistributionRt>0.084787</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>3291796</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>279102</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>833</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>279935</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>168523</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>1667</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>1667</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>1667</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>6000</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>6000</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>4333</OverpaymentAmt>
        <AppliedToESTaxAmt>4333</AppliedToESTaxAmt>
        <RefundAmt>0</RefundAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>MD</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>PNC</IndividualWithBooksNm>
        <PhoneNum>4102375653</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>Two Hopkins Plaza</AddressLine1Txt>
          <CityNm>Baltimore</CityNm>
          <StateAbbreviationCd>MD</StateAbbreviationCd>
          <ZIPCd>212012930</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Marianne Schmitt Hellauer</PersonNm>
          <USAddress>
            <AddressLine1Txt>6225 Smith Avenue</AddressLine1Txt>
            <CityNm>Baltimore</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>212093600</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>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>3258470</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>83452</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>3</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>3341925</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>3341925</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>50129</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>3291796</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>164590</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>164590</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>1667</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>1667</TotalTaxAmt>
        <DistributableBeforeAdjAmt>162923</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>162923</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>162923</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>168523</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>168523</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>0</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>168523</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>162923</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr3Amt>8587</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>23761</ExcessDistributionCyovYr2Amt>
        <TotalExcessDistributionCyovAmt>32348</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>168523</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>162923</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>5600</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>37948</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>37948</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear3Amt>8587</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>23761</ExcessFromYear2Amt>
        <ExcessFromCurrentYearAmt>5600</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>American Diabetes Association</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2002 Clipper Park Road</AddressLine1Txt>
            <CityNm>Baltimore</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21211</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>American Junior Golf Association</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1980 Sports Club Drive</AddressLine1Txt>
            <CityNm>Braselton</CityNm>
            <StateAbbreviationCd>GA</StateAbbreviationCd>
            <ZIPCd>30517</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Baltimore Museum of Art</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>10 Art Museum Drive</AddressLine1Txt>
            <CityNm>Baltimore</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21218</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Disabled American Veterans</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3725 Alexandria Pike</AddressLine1Txt>
            <CityNm>Cold Spring</CityNm>
            <StateAbbreviationCd>KY</StateAbbreviationCd>
            <ZIPCd>41076</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Maryland Food Bank</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO Box 17379</AddressLine1Txt>
            <CityNm>Baltimore</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21297</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>National Fndn for Facial Reconstruction</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>333 East 30th Street Lobby Unit</AddressLine1Txt>
            <CityNm>New York</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10016</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>St Jude Childrens' Research Hospital</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>262 Danny Thomas Place</AddressLine1Txt>
            <CityNm>Memphis</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>38105</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>St Paul's School for Girls</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>11232 Falls Road</AddressLine1Txt>
            <CityNm>LuthervilleTimonium</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21093</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>3500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Texas Public Policy Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>900 Congress Ave 400</AddressLine1Txt>
            <CityNm>Austin</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78701</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>The Gloucester Institute</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>6496 Allmondsville Road</AddressLine1Txt>
            <CityNm>Gloucester Courthous</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>23061</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of Chicago</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5801 South Ellis Avenue</AddressLine1Txt>
            <CityNm>Chicago</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60637</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Walters Art Museum</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>600 North Charles Street</AddressLine1Txt>
            <CityNm>Baltimore</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21201</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Special Olympics</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2570 Blvd of the Generals No 124</AddressLine1Txt>
            <CityNm>Norristown</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19403</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>The Windward School</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>40 West Red Oak Lane</AddressLine1Txt>
            <CityNm>White Plains</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10604</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Congressional Award Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>379 Ford House Office Building</AddressLine1Txt>
            <CityNm>Washington</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20515</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Mason County Action Group Inc</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO Box 12</AddressLine1Txt>
            <CityNm>Point Pleasant</CityNm>
            <StateAbbreviationCd>WV</StateAbbreviationCd>
            <ZIPCd>25550</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>COE College</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>Business Office 1220 1st Ave NE</AddressLine1Txt>
            <CityNm>Cedar Rapids</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52402</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>The George W Bush Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2943 SMU Blvd</AddressLine1Txt>
            <CityNm>Dallas</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75205</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ASPCA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>424 East 92nd Street</AddressLine1Txt>
            <CityNm>New York</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10128</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Borderlands Research Institute for Natural Research Management</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO Box C-21 Sul Ross State</AddressLine1Txt>
            <AddressLine2Txt>University</AddressLine2Txt>
            <CityNm>Alpine</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>79832</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>166000</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>90039</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>6621</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>96660</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>96660</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>Donald and Rose Marie Shepard</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>c/o DLA Piper 6225 Smith Ave</AddressLine1Txt>
          <CityNm>Baltimore</CityNm>
          <StateAbbreviationCd>MD</StateAbbreviationCd>
          <ZIPCd>212093600</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>98861</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <ContributorInformationGrp>
        <ContributorNum>2</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>Donald and Rose Marie Shepard</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>c/o DLA Piper 6225 Smith Ave</AddressLine1Txt>
          <CityNm>Baltimore</CityNm>
          <StateAbbreviationCd>MD</StateAbbreviationCd>
          <ZIPCd>212093600</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>50036</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <ContributorInformationGrp>
        <ContributorNum>3</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>Donald and Rose Marie Shepard</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>c/o DLA Piper 6225 Smith Ave</AddressLine1Txt>
          <CityNm>Baltimore</CityNm>
          <StateAbbreviationCd>MD</StateAbbreviationCd>
          <ZIPCd>212093600</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>96317</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>1</ContributorNum>
        <NoncashPropertyDesc>737 shares Home Depot Inc</NoncashPropertyDesc>
        <FairMarketValueAmt>98861</FairMarketValueAmt>
        <ReceivedDt>2016-05-27</ReceivedDt>
      </NonCashPropertyContributionGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>2</ContributorNum>
        <NoncashPropertyDesc>517 shares Mastercard, Inc.</NoncashPropertyDesc>
        <FairMarketValueAmt>50036</FairMarketValueAmt>
        <ReceivedDt>2016-05-27</ReceivedDt>
      </NonCashPropertyContributionGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>3</ContributorNum>
        <NoncashPropertyDesc>1,712 shares Nike, Inc.</NoncashPropertyDesc>
        <FairMarketValueAmt>96317</FairMarketValueAmt>
        <ReceivedDt>2016-05-27</ReceivedDt>
      </NonCashPropertyContributionGrp>
    </IRS990ScheduleB>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>Washington Mutual</StockNm>
        <EOYBookValueAmt>1</EOYBookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Aegon NV</StockNm>
        <EOYBookValueAmt>152322</EOYBookValueAmt>
        <EOYFMVAmt>122147</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Anadarko Petro Corp</StockNm>
        <EOYBookValueAmt>10671</EOYBookValueAmt>
        <EOYFMVAmt>24405</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Abbott Labs</StockNm>
        <EOYBookValueAmt>4311</EOYBookValueAmt>
        <EOYFMVAmt>11523</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Rockwell Automation Inc</StockNm>
        <EOYBookValueAmt>75596</EOYBookValueAmt>
        <EOYFMVAmt>241920</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Ross Stores Inc</StockNm>
        <EOYBookValueAmt>38228</EOYBookValueAmt>
        <EOYFMVAmt>354240</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WMI Hldgs Corp</StockNm>
        <EOYBookValueAmt>3615</EOYBookValueAmt>
        <EOYFMVAmt>8</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Allergan Inc</StockNm>
        <EOYBookValueAmt>123794</EOYBookValueAmt>
        <EOYFMVAmt>84844</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>American Express Co.</StockNm>
        <EOYBookValueAmt>75777</EOYBookValueAmt>
        <EOYFMVAmt>124602</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Apple Inc</StockNm>
        <EOYBookValueAmt>111723</EOYBookValueAmt>
        <EOYFMVAmt>416952</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Celgene Corp</StockNm>
        <EOYBookValueAmt>25617</EOYBookValueAmt>
        <EOYFMVAmt>106490</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Comcast Corp Cl A</StockNm>
        <EOYBookValueAmt>75082</EOYBookValueAmt>
        <EOYFMVAmt>218889</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Cummins Inc</StockNm>
        <EOYBookValueAmt>47317</EOYBookValueAmt>
        <EOYFMVAmt>126420</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Dollar Tree Inc</StockNm>
        <EOYBookValueAmt>61591</EOYBookValueAmt>
        <EOYFMVAmt>287341</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Hershey Company</StockNm>
        <EOYBookValueAmt>83233</EOYBookValueAmt>
        <EOYFMVAmt>175831</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PPG Industries</StockNm>
        <EOYBookValueAmt>43146</EOYBookValueAmt>
        <EOYFMVAmt>129821</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Viacom Inc Class B</StockNm>
        <EOYBookValueAmt>79625</EOYBookValueAmt>
        <EOYFMVAmt>98280</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Mastercard Inc Class A</StockNm>
        <EOYBookValueAmt>61123</EOYBookValueAmt>
        <EOYFMVAmt>342480</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Nike Inc Class B</StockNm>
        <EOYBookValueAmt>58134</EOYBookValueAmt>
        <EOYFMVAmt>295424</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Home Depot</StockNm>
        <EOYBookValueAmt>45078</EOYBookValueAmt>
        <EOYFMVAmt>250998</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>DLA Piper</CategoryTxt>
        <LegalFeesAmt>2523</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2523</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>FMV adjustment of stock received</Desc>
        <Amt>198489</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>Investment Fees</Desc>
        <RevenueAndExpensesPerBooksAmt>13320</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>13320</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>2015 Income Tax</CategoryTxt>
        <Amt>2622</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>2016 Q1 ES Pmt</CategoryTxt>
        <Amt>6000</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>