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        <CostOrOtherBasisAmt>335518</CostOrOtherBasisAmt>
        <BookValueAmt>335518</BookValueAmt>
        <EOYFMVAmt>335518</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>TRACTOR</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>55552</CostOrOtherBasisAmt>
        <BookValueAmt>55552</BookValueAmt>
        <EOYFMVAmt>55552</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>CONSTRUCTION IN PROGRESS-ENGINEERING</CategoryOrItemTxt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>CONSTRUCTION IN PROGRESS-ARCHITECT</CategoryOrItemTxt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>36 ACRE PARCEL, CARBONDALE, COLORADO</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>595000</CostOrOtherBasisAmt>
        <BookValueAmt>595000</BookValueAmt>
        <EOYFMVAmt>595000</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>PARCEL 1-64.931 ACRES-CARBONDALE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>995000</CostOrOtherBasisAmt>
        <BookValueAmt>995000</BookValueAmt>
        <EOYFMVAmt>995000</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>PARCEL 2 -52.828 ACRES CARBONDALE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1475000</CostOrOtherBasisAmt>
        <BookValueAmt>1475000</BookValueAmt>
        <EOYFMVAmt>1475000</EOYFMVAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <LegalFeesSchedule documentId="RetDoc4">
      <LegalFeesGrp>
        <CategoryTxt>HOLLAND &amp; HART</CategoryTxt>
        <LegalFeesAmt>12094</LegalFeesAmt>
        <NetInvestmentIncomeAmt>9449</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>9449</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2645</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
      <LegalFeesGrp>
        <CategoryTxt>PATTERSON BALKNAP</CategoryTxt>
        <LegalFeesAmt>6719</LegalFeesAmt>
        <DisbursementsCharitablePrpsAmt>6719</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc5">
      <OtherAssetsScheduleGrp>
        <Desc>JASPER JOHNS ART COLLECTION</Desc>
        <BOYBookValueAmt>2833725</BOYBookValueAmt>
        <EOYBookValueAmt>2833725</EOYBookValueAmt>
        <EOYFMVAmt>2833725</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ART-W DE KOONING "TORRENT"</Desc>
        <BOYBookValueAmt>2500000</BOYBookValueAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ART W DE KOONING "LEAGUE"</Desc>
        <BOYBookValueAmt>800000</BOYBookValueAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ART W DE KOONING "STANDING WOMAN"</Desc>
        <BOYBookValueAmt>1200000</BOYBookValueAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ART W DE KOONING "WADING WOMAN"</Desc>
        <BOYBookValueAmt>1200000</BOYBookValueAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>POST WAR &amp; COMTEMP ART</Desc>
        <BOYBookValueAmt>173181000</BOYBookValueAmt>
        <EOYBookValueAmt>173181000</EOYBookValueAmt>
        <EOYFMVAmt>173181000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ART PRINT AND MULTIPLES</Desc>
        <BOYBookValueAmt>15364000</BOYBookValueAmt>
        <EOYBookValueAmt>15364000</EOYBookValueAmt>
        <EOYFMVAmt>15364000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>NOTES REC - EMPLOYEE</Desc>
        <BOYBookValueAmt>3376</BOYBookValueAmt>
        <EOYBookValueAmt>3972</EOYBookValueAmt>
        <EOYFMVAmt>3972</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>JAPANESE ART COLLECTION</Desc>
        <BOYBookValueAmt>36445000</BOYBookValueAmt>
        <EOYBookValueAmt>36345000</EOYBookValueAmt>
        <EOYFMVAmt>36345000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>INVESTMENT - HSBC SECURITIES</Desc>
        <EOYBookValueAmt>12479708</EOYBookValueAmt>
        <EOYFMVAmt>12479708</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>PAYROLL TAX DEPOSITS</Desc>
        <EOYBookValueAmt>62</EOYBookValueAmt>
        <EOYFMVAmt>62</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>JAPANESE ART KP COLLECTION</Desc>
        <EOYBookValueAmt>2870000</EOYBookValueAmt>
        <EOYFMVAmt>2870000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc6">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>45777</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>45777</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>65</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>65</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>DUES &amp; SUBSCRIPTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>1108</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>1108</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ART MAINTENANCE EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>13960</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>13960</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>UTILITIES</Desc>
        <RevenueAndExpensesPerBooksAmt>14544</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>14544</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>TELEPHONE</Desc>
        <RevenueAndExpensesPerBooksAmt>5461</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>5461</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>REPAIRS &amp; MAINTENANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>154535</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>53544</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>53544</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>100991</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SECURITY</Desc>
        <RevenueAndExpensesPerBooksAmt>11307</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>11307</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>642</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>642</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>5343</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>5343</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LOSS ON SALE OF SECURITIES</Desc>
        <RevenueAndExpensesPerBooksAmt>2482</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>2482</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>7031</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>7031</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT ADVISORY FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>17178</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>17178</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc7">
      <OtherIncomeDetail>
        <Desc>SALE OF ART</Desc>
        <RevenueAndExpensesPerBooksAmt>7850000</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>7850000</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>INSURANCE SETTLEMENTS</Desc>
        <RevenueAndExpensesPerBooksAmt>5901</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>5901</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="RetDoc8">
      <OtherLiabilitiesDetail>
        <Desc>NOTES PAYABLE - K POWERS (LOC)</Desc>
        <BOYBookValueAmt>6359000</BOYBookValueAmt>
        <EOYBookValueAmt>6559000</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>NOTES PAYABLE - K POWERS</Desc>
        <BOYBookValueAmt>50000</BOYBookValueAmt>
        <EOYBookValueAmt>50000</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>NOTES PAYABLE - K POWERS</Desc>
        <BOYBookValueAmt>48627</BOYBookValueAmt>
        <EOYBookValueAmt>138002</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>UNREALIZED LOSS-HSBC</Desc>
        <EOYBookValueAmt>-45719</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="RetDoc9">
      <TaxesDetail>
        <CategoryTxt>INDIRECT TAXES/LICENSES</CategoryTxt>
        <Amt>16777</Amt>
        <DisbursementsCharitablePrpsAmt>16777</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>