﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2012v2.0" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2014-03-22T14:15:38-07:00</Timestamp>
    <TaxPeriodEndDate>2013-11-30</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>JAMES D DIGENAN CPA JD</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>5520 WELLESLEY ST STE 200</AddressLine1>
        <City>LA MESA</City>
        <State>CA</State>
        <ZIPCode>91942</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990PF</ReturnType>
    <TaxPeriodBeginDate>2012-12-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>202016199</EIN>
      <Name>
        <BusinessNameLine1>GEM FOUNDATION</BusinessNameLine1>
      </Name>
      <NameControl>GEMF</NameControl>
      <Phone>8587200723</Phone>
      <USAddress>
        <AddressLine1>117 SIXTH STREET</AddressLine1>
        <City>DEL MAR</City>
        <State>CA</State>
        <ZIPCode>92014</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>EDWARD L MERCALDO</Name>
      <Title>President</Title>
      <DateSigned>2014-03-22</DateSigned>
      <AuthorizeThirdParty>true</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>James D Digenan</Name>
      <PTIN>P00101107</PTIN>
      <Phone>6197419806</Phone>
      <SelfEmployed>X</SelfEmployed>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2015-12-30 17:16:21Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="9">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation" softwareId="12000229" softwareVersion="2012v2.0">
      <ExemptPF>X</ExemptPF>
      <FMVAssetsEOY>969630</FMVAssetsEOY>
      <MethodOfAccountingCash>X</MethodOfAccountingCash>
      <AnalysisOfRevenueAndExpenses>
        <NotRequiredToAttachScheduleB>X</NotRequiredToAttachScheduleB>
        <NetGainSaleAssetsRevAndExpnss>-242033</NetGainSaleAssetsRevAndExpnss>
        <GrossSalesPrice>45490</GrossSalesPrice>
        <OtherIncomeRevAndExpnss referenceDocumentId="OtherIncomeSchedule2">7</OtherIncomeRevAndExpnss>
        <TotalRevenueAndExpenses>-242026</TotalRevenueAndExpenses>
        <TotalNetInvestmentIncome>0</TotalNetInvestmentIncome>
        <AccountingFeesRevAndExpnss referenceDocumentId="AccountingFeesSchedule">1975</AccountingFeesRevAndExpnss>
        <AccountingFeesDsbrsChrtblPrps>1975</AccountingFeesDsbrsChrtblPrps>
        <TaxesRevAndExpnss referenceDocumentId="TaxesSchedule">10</TaxesRevAndExpnss>
        <TaxesDsbrsChrtblPrps>10</TaxesDsbrsChrtblPrps>
        <DeprecAndDepletionRevAndExpnss referenceDocumentId="DepreciationSchedule">220</DeprecAndDepletionRevAndExpnss>
        <TravConfMeetingRevAndExpnss>3145</TravConfMeetingRevAndExpnss>
        <TravConfMeetingDsbrsChrtblPrps>3145</TravConfMeetingDsbrsChrtblPrps>
        <OtherExpensesRevAndExpnss referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">17911</OtherExpensesRevAndExpnss>
        <OtherExpensesDsbrsChrtblPrps>17911</OtherExpensesDsbrsChrtblPrps>
        <TotOprExpensesRevAndExpnss>23261</TotOprExpensesRevAndExpnss>
        <TotOprExpensesNetInvstIncm>0</TotOprExpensesNetInvstIncm>
        <TotOprExpensesDsbrsChrtblPrps>23041</TotOprExpensesDsbrsChrtblPrps>
        <ContriGiftsPaidRevAndExpnss>8442</ContriGiftsPaidRevAndExpnss>
        <ContriGiftsPaidDsbrsChrtblPrps>8442</ContriGiftsPaidDsbrsChrtblPrps>
        <TotalExpensesRevAndExpnss>31703</TotalExpensesRevAndExpnss>
        <TotalExpensesNetInvstIncm>0</TotalExpensesNetInvstIncm>
        <TotalExpensesDsbrsChrtblPrps>31483</TotalExpensesDsbrsChrtblPrps>
        <ExcessOfRevenueOverExpenses>-273729</ExcessOfRevenueOverExpenses>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </AnalysisOfRevenueAndExpenses>
      <BalanceSheets>
        <CashBOY>6309</CashBOY>
        <CashEOY>-17173</CashEOY>
        <CashEOYFMV>-17173</CashEOYFMV>
        <SavingsAndTempCashInvstBOY>9051</SavingsAndTempCashInvstBOY>
        <SavingsAndTempCashInvstEOY>38842</SavingsAndTempCashInvstEOY>
        <SavingsAndTempCashInvstEOYFMV>38842</SavingsAndTempCashInvstEOYFMV>
        <InvestmentsCorpStockBOY>592773</InvestmentsCorpStockBOY>
        <InvestmentsCorpStockEOY referenceDocumentId="InvestmentsCorpStockSchedule">743650</InvestmentsCorpStockEOY>
        <InvestmentsCorpStockEOYFMV>743650</InvestmentsCorpStockEOYFMV>
        <InvestmentsOtherEOY referenceDocumentId="InvestmentsOtherSchedule2">204200</InvestmentsOtherEOY>
        <InvestmentsOtherEOYFMV>204200</InvestmentsOtherEOYFMV>
        <LandBuildingAndEquipmentBasis>1913</LandBuildingAndEquipmentBasis>
        <AccumDeprecLandBldgAndEquip>1802</AccumDeprecLandBldgAndEquip>
        <LandBuildingAndEquipmentBOY>331</LandBuildingAndEquipmentBOY>
        <LandBuildingAndEquipmentEOY referenceDocumentId="LandEtcSchedule2">111</LandBuildingAndEquipmentEOY>
        <LandBuildingAndEquipmentEOYFMV>111</LandBuildingAndEquipmentEOYFMV>
        <TotalAssetsBOY>608464</TotalAssetsBOY>
        <TotalAssetsEOY>969630</TotalAssetsEOY>
        <TotalAssetsEOYFMV>969630</TotalAssetsEOYFMV>
        <LoansFromOfficersBOY>5000</LoansFromOfficersBOY>
        <LoansFromOfficersEOY>6000</LoansFromOfficersEOY>
        <TotalLiabilitiesBOY>5000</TotalLiabilitiesBOY>
        <TotalLiabilitiesEOY>6000</TotalLiabilitiesEOY>
        <OrgThatDoNotFollowSFAS117>X</OrgThatDoNotFollowSFAS117>
        <RetainedEarningsBOY>603464</RetainedEarningsBOY>
        <RetainedEarningsEOY>963630</RetainedEarningsEOY>
        <TotalNetAssetsBOY>603464</TotalNetAssetsBOY>
        <TotalNetAssetsEOY>963630</TotalNetAssetsEOY>
        <TotalLiabilitiesNetAssetsBOY>608464</TotalLiabilitiesNetAssetsBOY>
        <TotalLiabilitiesNetAssetsEOY>969630</TotalLiabilitiesNetAssetsEOY>
      </BalanceSheets>
      <ChangesInNetAssetsFundBalances>
        <TotalNetAssetsFundBalancesBOY>603464</TotalNetAssetsFundBalancesBOY>
        <ExcessOfRevenueOverExpenses>-273729</ExcessOfRevenueOverExpenses>
        <OtherIncreases referenceDocumentId="OtherIncreasesSchedule">633895</OtherIncreases>
        <Subtotal>963630</Subtotal>
        <TotalNetAssetsFundBalancesEOY>963630</TotalNetAssetsFundBalancesEOY>
      </ChangesInNetAssetsFundBalances>
      <CapitalGainsAndLosses>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>40000 WESTERN LITHIUM USA</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2010-12-31</DateAcquired>
          <DateSold>2013-11-25</DateSold>
          <GrossSalesPrice>8424</GrossSalesPrice>
          <CostOrOtherBasis>50390</CostOrOtherBasis>
          <GainOrLoss>-41966</GainOrLoss>
          <GainsMinusExcessOrLosses>-41966</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>62000 ATAC RESOURCES</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2004-12-09</DateAcquired>
          <DateSold>2013-11-25</DateSold>
          <GrossSalesPrice>37066</GrossSalesPrice>
          <CostOrOtherBasis>237133</CostOrOtherBasis>
          <GainOrLoss>-200067</GainOrLoss>
          <GainsMinusExcessOrLosses>-200067</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainNetIncome>-242033</CapitalGainNetIncome>
      </CapitalGainsAndLosses>
      <QlfyUndSect4940eForReducedTax>
        <LiableFor4942Tax>false</LiableFor4942Tax>
        <QualifyingDistributionsYear1>67692</QualifyingDistributionsYear1>
        <NoncharitableAssetsYear1>821066</NoncharitableAssetsYear1>
        <DistributionRatioYear1>0.08244</DistributionRatioYear1>
        <QualifyingDistributionsYear2>145238</QualifyingDistributionsYear2>
        <NoncharitableAssetsYear2>1130219</NoncharitableAssetsYear2>
        <DistributionRatioYear2>0.12850</DistributionRatioYear2>
        <QualifyingDistributionsYear3>163573</QualifyingDistributionsYear3>
        <NoncharitableAssetsYear3>702425</NoncharitableAssetsYear3>
        <DistributionRatioYear3>0.23287</DistributionRatioYear3>
        <QualifyingDistributionsYear4>180505</QualifyingDistributionsYear4>
        <NoncharitableAssetsYear4>627394</NoncharitableAssetsYear4>
        <DistributionRatioYear4>0.28771</DistributionRatioYear4>
        <QualifyingDistributionsYear5>257219</QualifyingDistributionsYear5>
        <NoncharitableAssetsYear5>1102625</NoncharitableAssetsYear5>
        <DistributionRatioYear5>0.23328</DistributionRatioYear5>
        <TotalDistributionRatio>0.96480</TotalDistributionRatio>
        <AverageDistributionRatio>0.19296</AverageDistributionRatio>
        <NetNoncharitableAssets>671925</NetNoncharitableAssets>
        <AdjustedNoncharitableAssets>129655</AdjustedNoncharitableAssets>
        <AdjNonchrtblAssetsAndOnePct>129655</AdjNonchrtblAssetsAndOnePct>
        <QualifyingDistributions>31483</QualifyingDistributions>
      </QlfyUndSect4940eForReducedTax>
      <ExciseTaxBasedOnInvestmentIncm>
        <InvestmentIncomeExciseTax>0</InvestmentIncomeExciseTax>
      </ExciseTaxBasedOnInvestmentIncm>
      <StatementsRegardingActivities>
        <LegislativePoliticalActivities>false</LegislativePoliticalActivities>
        <MoreThan100Spent>false</MoreThan100Spent>
        <Form1120POLFiled>false</Form1120POLFiled>
        <ActivitiesNotPrevReported>false</ActivitiesNotPrevReported>
        <ChangesToArticlesOrBylaws>false</ChangesToArticlesOrBylaws>
        <UnrelatedBusIncomeOver1000>false</UnrelatedBusIncomeOver1000>
        <Form990TFiled>false</Form990TFiled>
        <TerminationEtc>false</TerminationEtc>
        <RequirementsOfSect508e>false</RequirementsOfSect508e>
        <AtLeast5000InAssets>true</AtLeast5000InAssets>
        <StatesFiledWith>CA</StatesFiledWith>
        <Form990PFFiledWithAG>true</Form990PFFiledWithAG>
        <PrivateOperatingFoundation>true</PrivateOperatingFoundation>
        <NewSubstantialContributors>false</NewSubstantialContributors>
        <InterestInControlledEntity>false</InterestInControlledEntity>
        <ApplicableInsuranceContract>false</ApplicableInsuranceContract>
        <ComplyWithPublicInspectionRqr>true</ComplyWithPublicInspectionRqr>
        <WebsiteAddress>WWW.THEGEMFOUNDATION.ORG</WebsiteAddress>
        <BooksInCareOfBusinessName>
          <BusinessNameLine1>KAREN MERCALDO</BusinessNameLine1>
        </BooksInCareOfBusinessName>
        <BooksInCareOfPhoneNumber>8587200723</BooksInCareOfPhoneNumber>
        <BooksInCareOfUSAddress>
          <AddressLine1>117 SIXTH STREET</AddressLine1>
          <City>DEL MAR</City>
          <State>CA</State>
          <ZIPCode>92014</ZIPCode>
        </BooksInCareOfUSAddress>
        <ForeignBank>false</ForeignBank>
      </StatementsRegardingActivities>
      <StatementsRegardingActy4720>
        <SaleOrExchangeWithDsqflyPerson>false</SaleOrExchangeWithDsqflyPerson>
        <BorrowOrLendWithDsqflyPerson>false</BorrowOrLendWithDsqflyPerson>
        <FurnishedGoodsWithDsqflyPerson>false</FurnishedGoodsWithDsqflyPerson>
        <PayCompensationToDsqflyPerson>false</PayCompensationToDsqflyPerson>
        <TransferAssetsToDsqflyPerson>false</TransferAssetsToDsqflyPerson>
        <PaymentToGovernmentOffical>false</PaymentToGovernmentOffical>
        <ActsFailToQualifyAsExceptions>false</ActsFailToQualifyAsExceptions>
        <UncorrectedPriorActs>false</UncorrectedPriorActs>
        <UndistributedIncomePriorYears>false</UndistributedIncomePriorYears>
        <UndistrIncome4942a2NotApplied>false</UndistrIncome4942a2NotApplied>
        <BusinessHoldings>false</BusinessHoldings>
        <ExcessBusinessHoldings>false</ExcessBusinessHoldings>
        <JeopardyInvestments>false</JeopardyInvestments>
        <UncorrectedJeopardyInvestments>false</UncorrectedJeopardyInvestments>
        <InfluenceLegislation>false</InfluenceLegislation>
        <InfluenceElection>false</InfluenceElection>
        <GrantsToIndividuals>false</GrantsToIndividuals>
        <GrantsToOrganizations>false</GrantsToOrganizations>
        <NoncharitablePurpose>false</NoncharitablePurpose>
        <TrFailToQualifyAsExceptions>false</TrFailToQualifyAsExceptions>
        <MaintExpendResponsibility>false</MaintExpendResponsibility>
        <RcvFundsToPayPrsnlBnftContract>false</RcvFundsToPayPrsnlBnftContract>
        <PayPremiumsPrsnlBnftContract>false</PayPremiumsPrsnlBnftContract>
        <ProhibitedTaxShelterTransactn>false</ProhibitedTaxShelterTransactn>
        <ProceedsOrNetIncome>false</ProceedsOrNetIncome>
      </StatementsRegardingActy4720>
      <OfcrDirTrusteesKeyEmployeeInfo>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>ARTHUR R RULE</PersonName>
          <USAddress>
            <AddressLine1>7540 NAVIGATOR CIRCLE</AddressLine1>
            <City>CARLSBAD</City>
            <State>CA</State>
            <ZIPCode>92011</ZIPCode>
          </USAddress>
          <Title>Director</Title>
          <AvgHoursPerWkDevotedToPosition>5.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>GIANNA MERCALDO</PersonName>
          <USAddress>
            <AddressLine1>117 SIXTH STREET</AddressLine1>
            <City>DEL MAR</City>
            <State>CA</State>
            <ZIPCode>92014</ZIPCode>
          </USAddress>
          <Title>Director</Title>
          <AvgHoursPerWkDevotedToPosition>5.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>DOMINIC MERCALDO</PersonName>
          <USAddress>
            <AddressLine1>117 SIXTH STREET</AddressLine1>
            <City>DEL MAR</City>
            <State>CA</State>
            <ZIPCode>92014</ZIPCode>
          </USAddress>
          <Title>Director</Title>
          <AvgHoursPerWkDevotedToPosition>5.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>KAREN A MERCALDO</PersonName>
          <USAddress>
            <AddressLine1>117 SIXTH STREET</AddressLine1>
            <City>DEL MAR</City>
            <State>CA</State>
            <ZIPCode>92014</ZIPCode>
          </USAddress>
          <Title>President</Title>
          <AvgHoursPerWkDevotedToPosition>10.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
        </OfcrDirTrusteesOrKeyEmployee>
        <CompOfHighestPaidEmplNONE>NONE</CompOfHighestPaidEmplNONE>
        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SummaryOfDirectCharitableActy>
        <Description1>The Sharing Resources Forum, convened in San Diego in August, 2012, brought together a diverse group of academics, nonprofit organizations and students to explore their experience with people organizing themselves to pool tangible resources (e.g. money, water, land) to accomplish something together that they were unable to do as individuals. A series of interviews and roundtables gathered stories from the San Diego/Tijuana region and Africa that were posted on the Gem website and provided the theme (We Can Do More) for the Forum. Conducted in partnership with UCSDs Center on Global Justice and PCI, the Forum identified opportunities for collective action.</Description1>
        <Expenses1>193</Expenses1>
        <Description2>The WE Impact Evaluation, in collaboration with the University of Notre Dame and PCI, is to design and conduct research on the impact of the WE (Womens Empowerment) savings groups in Ethiopia and Guatemala. The research will involve the use of control groups and the Lives Changed Index, which measures social as well as economic, educational and health impacts of the program. Baseline and endline data will be used to inform PCIs global program implementation and will be converted into a publishable manuscript to be shared more broadly. The implementation period is from 2013 through 2015.</Description2>
        <Expenses2>18000</Expenses2>
        <Description3>The Generational Change movement is an initiative to engage resources to reach 1000 communities and 1.6 million people across six West African countries in 2013 with a proven educational model that includes human rights, broadens educational opportunities and enables communities to organize themselves for community-led progress. The impact of the program, which aims for significant change in three years, will be measured and reported to investor/advisors over the three year period.</Description3>
        <Expenses3>2400</Expenses3>
      </SummaryOfDirectCharitableActy>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>677674</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>4483</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>0</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>682157</TotalFMVOfUnusedAssets>
        <ReductionClaimed>0</ReductionClaimed>
        <AdjTotalFMVOfUnusedAssets>682157</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>10232</CashDeemedCharitable>
        <NetNoncharitableAssets>671925</NetNoncharitableAssets>
        <MinimumInvestmentReturn>33596</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <Sect4942j3j5FndtnAndFrgnOrg>X</Sect4942j3j5FndtnAndFrgnOrg>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>31483</ExpensesAndContributions>
        <QualifyingDistributions>31483</QualifyingDistributions>
        <AdjQualifyingDistributions>31483</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <PrivateOperatingFoundations>
        <Section4942j3>X</Section4942j3>
        <LessorAdjNetIncmMinInvstReturn>
          <CurrentYear>0</CurrentYear>
          <Total>0</Total>
        </LessorAdjNetIncmMinInvstReturn>
        <QualifyingDistributions>
          <CurrentYear>31483</CurrentYear>
          <Year1>67692</Year1>
          <Year2>145238</Year2>
          <Year3>163573</Year3>
          <Total>407986</Total>
        </QualifyingDistributions>
        <QlfyDistriNotUsedDirectly>
          <CurrentYear>8442</CurrentYear>
          <Year1>39223</Year1>
          <Year2>115000</Year2>
          <Year3>123087</Year3>
          <Total>285752</Total>
        </QlfyDistriNotUsedDirectly>
        <QlfyDistriMadeDirectly>
          <CurrentYear>23041</CurrentYear>
          <Year1>28469</Year1>
          <Year2>30238</Year2>
          <Year3>40486</Year3>
          <Total>122234</Total>
        </QlfyDistriMadeDirectly>
        <TwoThirdsMinInvstReturn>
          <CurrentYear>22397</CurrentYear>
          <Year1>27368</Year1>
          <Year2>37674</Year2>
          <Year3>23414</Year3>
          <Total>110853</Total>
        </TwoThirdsMinInvstReturn>
      </PrivateOperatingFoundations>
      <SupplementaryInformation>
        <ContributingManager>KAREN A MERCALDO</ContributingManager>
        <OnlyContributesToPreselected>X</OnlyContributesToPreselected>
        <GrantOrContriPaidDuringYear>
          <RecipientPersonName>AIDS LIFECYCLE</RecipientPersonName>
          <RecipientUSAddress>
            <AddressLine1>1035 MARKET STREET STE 400</AddressLine1>
            <City>SAN FRANCISCO</City>
            <State>CA</State>
            <ZIPCode>94103</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientPersonName>PLANNED PARENTHOOD</RecipientPersonName>
          <RecipientUSAddress>
            <AddressLine1>434 WEST 33RD ST</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10001</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>1500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientPersonName>THE CHILDREN'S INITIATIVE</RecipientPersonName>
          <RecipientUSAddress>
            <AddressLine1>4438 INGRAHAM STREET</AddressLine1>
            <City>SAN DIEGO</City>
            <State>CA</State>
            <ZIPCode>92109</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>EDUCATIONAL</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>PROJECT CONCERN INTERNATIONAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>5151 MURPHY CANYON RD 320</AddressLine1>
            <City>SAN DIEGO</City>
            <State>CA</State>
            <ZIPCode>92123</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>4942</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>8442</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <OtherInvestmentIncomePartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>7</ExclusionAmount>
        </OtherInvestmentIncomePartVII>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>-242033</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
          <ExclusionAmount>-242026</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>-242026</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
      <TrnsfrTrRlnWithNoncharitableEO>
        <TrnsfrOfCashToNoncharitableEO>false</TrnsfrOfCashToNoncharitableEO>
        <TrnsfrOthAssetsNoncharitableEO>false</TrnsfrOthAssetsNoncharitableEO>
        <SalesOrExchangesOfAssets>false</SalesOrExchangesOfAssets>
        <PurchaseAssetsNoncharitableEO>false</PurchaseAssetsNoncharitableEO>
        <RentalOfFacilitiesEtc>false</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>false</ReimbursementArrangements>
        <LoansOrLoanGuarantees>false</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>false</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>false</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>false</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
    </IRS990PF>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule" softwareId="12000229" softwareVersion="2012v2.0">
      <AccountingFees>
        <Category>ACCOUNTING</Category>
        <Amount>1975</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>1975</DisbursementsCharitablePrps>
      </AccountingFees>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="DepreciationSchedule" softwareId="12000229" softwareVersion="2012v2.0">
      <Depreciation>
        <DescriptionOfProperty>COMPUTER EQUIPMENT</DescriptionOfProperty>
        <DateAcquired>2009-07-24</DateAcquired>
        <CostOrOtherBasis>1913</CostOrOtherBasis>
        <PriorYearsDepreciation>1582</PriorYearsDepreciation>
        <ComputationMethod>53</ComputationMethod>
        <Rate>0.1152</Rate>
        <CurrentYearExpense>220</CurrentYearExpense>
      </Depreciation>
    </DepreciationSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule" softwareId="12000229" softwareVersion="2012v2.0">
      <InvestmentsCorpStock>
        <NameOfStock>CONCORDIA RESOURCE CORP</NameOfStock>
        <EOYBookValue>5650</EOYBookValue>
        <EOYFMV>5650</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>ATAC RESOURCES LTD</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>WESTERN LITHIUM CANADA</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>HALOZYME THERAPEUTICS INC</NameOfStock>
        <EOYBookValue>738000</EOYBookValue>
        <EOYFMV>738000</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="12000229" softwareVersion="2012v2.0">
      <InvestmentsOther>
        <CategoryOrItem>TARGA RESOURCE PARTNERS</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>204200</BookValue>
        <EOYFMV>204200</EOYFMV>
      </InvestmentsOther>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="LandEtcSchedule2" softwareId="12000229" softwareVersion="2012v2.0">
      <LandEtc>
        <CategoryOrItem>Machinery and Equipment</CategoryOrItem>
        <CostOrOtherBasis>1913</CostOrOtherBasis>
        <AccumulatedDepreciation>1802</AccumulatedDepreciation>
        <BookValue>111</BookValue>
        <EOYFMV>111</EOYFMV>
      </LandEtc>
    </LandEtcSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="12000229" softwareVersion="2012v2.0">
      <OtherExpenses>
        <Description>WEBSITE MAINTENANCE</Description>
        <RevenueAndExpensesPerBooks>77</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>77</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>WE IMPACT EVALUATION</Description>
        <RevenueAndExpensesPerBooks>18000</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>18000</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>OFFICE SUPPLIES</Description>
        <RevenueAndExpensesPerBooks>200</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>200</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISCELLANEOUS</Description>
        <RevenueAndExpensesPerBooks>-1335</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>-1335</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MEMBERSHIP DUES</Description>
        <RevenueAndExpensesPerBooks>40</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>40</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INSURANCE</Description>
        <RevenueAndExpensesPerBooks>752</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>752</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>FILING FEES</Description>
        <RevenueAndExpensesPerBooks>20</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>20</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>BANK CHARGES</Description>
        <RevenueAndExpensesPerBooks>157</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>157</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2" softwareId="12000229" softwareVersion="2012v2.0">
      <OtherIncome>
        <Description>Other Investment Income</Description>
        <RevenueAndExpensesPerBooks>7</RevenueAndExpensesPerBooks>
      </OtherIncome>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="12000229" softwareVersion="2012v2.0">
      <Taxes>
        <Category>FORM 199 STATE TAX</Category>
        <Amount>10</Amount>
        <DisbursementsCharitablePrps>10</DisbursementsCharitablePrps>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>