﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2014v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2015-11-16T14:08:30-06:00</ReturnTs>
    <TaxPeriodEndDt>2014-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>952399533</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>NSBN LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>9454 WILSHIRE BLVD 4TH FLOOR</AddressLine1Txt>
        <CityNm>BEVERLY HILLS</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>902122907</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2014-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>953333368</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE NORMAN &amp; SADIE LEE FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>NORM</BusinessNameControlTxt>
      <PhoneNum>3102732501</PhoneNum>
      <USAddress>
        <AddressLine1Txt>9454 WILSHIRE BLVD 4TH FLOOR</AddressLine1Txt>
        <CityNm>BEVERLY HILLS</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>902122907</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>PAUL JAMES</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>3102732501</PhoneNum>
      <SignatureDt>2015-11-13</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>ROBIN BROCK</PreparerPersonNm>
      <PTIN>P00185893</PTIN>
      <PhoneNum>3102732501</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2014</TaxYr>
    <BuildTS>2016-03-07 17:11:31Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="11">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>40096640</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>0</ContriRcvdRevAndExpnssAmt>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>1365718</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>1365718</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>434034</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>14774717</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>434034</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc2001500001">187587</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>184887</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>1987339</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>1984639</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">540</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>540</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">24474</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>12237</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>12237</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">44965</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>14673</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>150</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">333977</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>333699</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>0</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>403956</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>360609</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>12927</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>2000000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>2000000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>2403956</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>360609</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>2012927</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-416617</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>1624030</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>3438576</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>1362791</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>1362791</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>498933</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc2210400001">833933</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>829435</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>16689084</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">11440430</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>12669008</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>13323027</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc2044400001">20245247</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>19481704</CorporateBondsEOYFMVAmt>
        <MortgageLoansBOYAmt>151222</MortgageLoansBOYAmt>
        <MortgageLoansEOYAmt>116560</MortgageLoansEOYAmt>
        <MortgageLoansEOYFMVAmt>119301</MortgageLoansEOYFMVAmt>
        <OtherInvestmentsBOYAmt>4286816</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">4451370</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>5628458</OtherInvestmentsEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc2046600001">485233</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc2046600001">5943</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc2046600001">5943</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>38872891</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>38456274</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>40096640</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <CapitalStockBOYAmt>0</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>0</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>38872891</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>38456274</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>38872891</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>38456274</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>38872891</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>38456274</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>38872891</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-416617</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>38456274</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>38456274</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #66179</PropertyDesc>
          <GrossSalesPriceAmt>7596098</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>7429820</CostOrOtherBasisAmt>
          <GainOrLossAmt>166278</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>166278</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #70195</PropertyDesc>
          <GrossSalesPriceAmt>1222780</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1175022</CostOrOtherBasisAmt>
          <GainOrLossAmt>47758</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>47758</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #63484</PropertyDesc>
          <GrossSalesPriceAmt>52768</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>45499</CostOrOtherBasisAmt>
          <GainOrLossAmt>7269</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>7269</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #63494</PropertyDesc>
          <GrossSalesPriceAmt>627403</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>437544</CostOrOtherBasisAmt>
          <GainOrLossAmt>189859</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>189859</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #201450</PropertyDesc>
          <GrossSalesPriceAmt>47131</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>28894</CostOrOtherBasisAmt>
          <GainOrLossAmt>18237</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>18237</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #66183</PropertyDesc>
          <GrossSalesPriceAmt>329373</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>332224</CostOrOtherBasisAmt>
          <GainOrLossAmt>-2851</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-2851</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #201625</PropertyDesc>
          <GrossSalesPriceAmt>112438</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>142275</CostOrOtherBasisAmt>
          <GainOrLossAmt>-29837</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-29837</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #70196</PropertyDesc>
          <GrossSalesPriceAmt>68944</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>33862</CostOrOtherBasisAmt>
          <GainOrLossAmt>35082</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>35082</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #202607</PropertyDesc>
          <GrossSalesPriceAmt>180</GrossSalesPriceAmt>
          <GainOrLossAmt>180</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>180</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #70255</PropertyDesc>
          <GrossSalesPriceAmt>2843016</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2637380</CostOrOtherBasisAmt>
          <GainOrLossAmt>205636</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>205636</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #202730</PropertyDesc>
          <GrossSalesPriceAmt>1065084</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1347975</CostOrOtherBasisAmt>
          <GainOrLossAmt>-282891</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-282891</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #70322</PropertyDesc>
          <GrossSalesPriceAmt>276483</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>282546</CostOrOtherBasisAmt>
          <GainOrLossAmt>-6063</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-6063</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #202870</PropertyDesc>
          <GrossSalesPriceAmt>82563</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>103618</CostOrOtherBasisAmt>
          <GainOrLossAmt>-21055</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-21055</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #74096</PropertyDesc>
          <GrossSalesPriceAmt>300933</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>321735</CostOrOtherBasisAmt>
          <GainOrLossAmt>-20802</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-20802</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #203449</PropertyDesc>
          <GrossSalesPriceAmt>24187</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>22284</CostOrOtherBasisAmt>
          <GainOrLossAmt>1903</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1903</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS WEALTH ADVISOR SERIES MM INT. EQ.</PropertyDesc>
          <GrossSalesPriceAmt>46540</GrossSalesPriceAmt>
          <GainOrLossAmt>46540</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>46540</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BLUEBAY DIRECT LENDING FUND I-BWM, LP</PropertyDesc>
          <GrossSalesPriceAmt>7604</GrossSalesPriceAmt>
          <GainOrLossAmt>7604</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>7604</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>OAKTREE REAL ESTATE OPPORTUNITIES FUND VI, LP</PropertyDesc>
          <GrossSalesPriceAmt>24013</GrossSalesPriceAmt>
          <GainOrLossAmt>24013</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>24013</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BARCLAYS ACCT #70321</PropertyDesc>
          <GrossSalesPriceAmt>697</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>5</CostOrOtherBasisAmt>
          <GainOrLossAmt>692</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>692</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAINS DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>46482</GrossSalesPriceAmt>
          <GainOrLossAmt>46482</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>46482</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>434034</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>0</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>2018502</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>41246970</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.048937</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>1788543</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>41333892</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.043271</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>717287</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>36388058</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.019712</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>100000</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>17785501</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.005623</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>80040</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>2733833</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.029278</DistributionYr5Rt>
        <TotalDistributionRt>0.146821</TotalDistributionRt>
        <AverageDistributionRt>0.029364</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>41021568</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>1204557</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>16240</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>1220797</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>2012927</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>16240</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>16240</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>16240</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>21700</EstimatedPlusOvpmtIncmTxAmt>
        <AppliedToEsTaxAmt>10000</AppliedToEsTaxAmt>
        <TotalPaymentsAndCreditsAmt>31700</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>15460</OverpaymentAmt>
        <AppliedToESTaxAmt>15460</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>1</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>1</Form990TFiledInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>CA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>NSBN LLP</IndividualWithBooksNm>
        <PhoneNum>3102732501</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>9454 WILSHIRE BLVD 4TH FLOOR</AddressLine1Txt>
          <CityNm>BEVERLY HILLS</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>90212</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>1</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>0</ActsFailToQlfyAsExceptionsInd>
        <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>PAUL A JAMES</PersonNm>
          <USAddress>
            <AddressLine1Txt>712 27TH STREET</AddressLine1Txt>
            <CityNm>MANHATTAN BEACH</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90266</ZIPCd>
          </USAddress>
          <TitleTxt>DIR/PRESIDENT/TREAS/SEC</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>BRYAN ISAACS</PersonNm>
          <USAddress>
            <AddressLine1Txt>80916 WEISKOPF</AddressLine1Txt>
            <CityNm>LA QUINTA</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>92253</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>BARCLAYS CAPITAL</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>70 HUDSON STREET</AddressLine1Txt>
            <CityNm>JERSEY CITY</CityNm>
            <StateAbbreviationCd>NJ</StateAbbreviationCd>
            <ZIPCd>07302</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVESTMENT MANAGEMENT</ServiceTypeTxt>
          <CompensationAmt>165603</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>37190828</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>4449491</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>5943</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>41646262</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>41646262</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>624694</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>41021568</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>2051078</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>2051078</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>16240</TaxBasedOnInvestmentIncomeAmt>
        <IncomeTaxAmt>617</IncomeTaxAmt>
        <TotalTaxAmt>16857</TotalTaxAmt>
        <DistributableBeforeAdjAmt>2034221</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>2034221</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>2034221</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>2012927</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>2012927</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>16240</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>1996687</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>2034221</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>1977409</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>2012927</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>1977409</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>35518</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>1998703</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMERICAN YOUTH UNDERSTANDING DIABETES ABROAD</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1700 N MOORE ST NO 2000</AddressLine1Txt>
            <CityNm>ARLINGTON</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>22209</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BEIT T'SHUVAH</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>8831 VENICE BLVD</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90034</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BOYS TOWN JERUSALEM</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1 PENN PLAZA NO 6250</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10001</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>350000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BROAD STAGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1310 11TH ST</AddressLine1Txt>
            <CityNm>SANTA MONICA</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90401</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CENTER THEATRE GROUP</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>135 NO GRAND AVE</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90012</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>130000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CITY OF HOPE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1500 EAST DUARTE RD</AddressLine1Txt>
            <CityNm>DUARTE</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>91010</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>420000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>DISABLED SPORTS EASTERN SIERRA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1 MINARET RD</AddressLine1Txt>
            <CityNm>MAMMOTH LAKES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>93546</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FOCUSING PHILANTROPHYSPARK LA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>11693 SAN VICENTE BLVD STE 255</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90049</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LAURA'S HOUSE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>999 CORPORATE DR</AddressLine1Txt>
            <CityNm>MISSION VIEJO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>92694</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LOS ANGELES MUSEUM OF THE HOLOCAUST</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>100 S THE GROVE DR</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90036</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LOS ANGELES OPERA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>135 NO GRAND AVE 237</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90012</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>160000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LOS ANGELES PHILHARMONIC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>151 SO GRAND AVE</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90012</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>556000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SKIRBALL CULTURAL CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2701 NO SEPULVEDA BLVD</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90049</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>55000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UCLA FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>10920 WILSHIRE BLVD</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90024</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNIVERSITY OF SOUTHERN CALIFORNIA ASSOCIATES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>900 W 34TH ST</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90089</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>151500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>VENICE FAMILY CLINIC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>604 ROSE AVE</AddressLine1Txt>
            <CityNm>VENICE</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90291</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT OF ORGANIZATION MISSION</GrantOrContributionPurposeTxt>
          <Amt>60000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>2000000</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>1365718</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <OtherInvestmentIncmPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>693</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>184194</RelatedOrExemptFunctionIncmAmt>
        </OtherInvestmentIncmPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>434034</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>TAX REFUND</Desc>
          <RelatedOrExemptFunctionIncmAmt>2700</RelatedOrExemptFunctionIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>1800445</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>186894</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>1987339</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>11A</LineNumberTxt>
          <RelationshipStatementTxt>TAX REFUND EXCLUDED FROM INCOME PER IRC 111, NO TAX BENEFIT RECEIVED</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <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>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING</CategoryTxt>
        <Amt>24474</Amt>
        <NetInvestmentIncomeAmt>12237</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>12237</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorporateBondsGrp>
        <BondNm>BARCLAYS BROKERAGE ACCTS</BondNm>
        <EOYBookValueAmt>20245247</EOYBookValueAmt>
        <EOYFMVAmt>19481704</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>BARCLAYS BROKERAGE ACCTS</StockNm>
        <EOYBookValueAmt>11440430</EOYBookValueAmt>
        <EOYFMVAmt>12669008</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc2210400001">
      <USGovtObligationsBookVlEOYAmt>833933</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>829435</USGovtObligationsEOYFMVAmt>
      <StateLocalSecBookVlEOYAmt>0</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>0</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BARCLAYS BROKERAGE ACCTS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>4451370</BookValueAmt>
        <EOYFMVAmt>5628458</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL</CategoryTxt>
        <LegalFeesAmt>540</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>540</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssetsScheduleGrp>
        <Desc>RECEIVABLES FROM INVESTMENTS</Desc>
        <BOYBookValueAmt>485233</BOYBookValueAmt>
        <EOYBookValueAmt>5943</EOYBookValueAmt>
        <EOYFMVAmt>5943</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>242</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>242</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT MANAGEMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>165603</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>165603</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>4722</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>4722</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT EXPENSE FROM K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>163132</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>163132</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PENALTY</Desc>
        <RevenueAndExpensesPerBooksAmt>278</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>FOREIGN CURRENCY EXCHANGE GAIN</Desc>
        <RevenueAndExpensesPerBooksAmt>693</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>693</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>693</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>BLUEBAY DIRECT LENDING FUND</Desc>
        <RevenueAndExpensesPerBooksAmt>80649</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>80649</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>80649</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>OAKTREE REAL ESTATE OPPORTUNITIES FUND VI, LP</Desc>
        <RevenueAndExpensesPerBooksAmt>103542</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>103542</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>103542</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>BARCLAYS WEALTH ADVISOR</Desc>
        <RevenueAndExpensesPerBooksAmt>3</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>3</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>3</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>TAX REFUND</Desc>
        <RevenueAndExpensesPerBooksAmt>2700</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>2700</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>STATE FILING FEES</CategoryTxt>
        <Amt>150</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>150</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAX WITHHELD</CategoryTxt>
        <Amt>14673</Amt>
        <NetInvestmentIncomeAmt>14673</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES</CategoryTxt>
        <Amt>30142</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>