﻿<?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="2013v3.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2014-11-14T08:45:20-06:00</ReturnTs>
    <TaxPeriodEndDt>2013-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>420714325</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1>MCGLADREY LLP</BusinessNameLine1>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1>300 NORTH 3RD STREET FIFTH FLOOR</AddressLine1>
        <City>WILMINGTON</City>
        <State>NC</State>
        <ZIPCode>28401</ZIPCode>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2013-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>134105176</EIN>
      <BusinessName>
        <BusinessNameLine1>THE LADANE FOUNDATION</BusinessNameLine1>
      </BusinessName>
      <BusinessNameControlTxt>LADA</BusinessNameControlTxt>
      <PhoneNum>9105797300</PhoneNum>
      <USAddress>
        <AddressLine1>11 CAUSEWAY DRIVE</AddressLine1>
        <City>OCEAN ISLE BEACH</City>
        <State>NC</State>
        <ZIPCode>28469</ZIPCode>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>LADANE WILLIAMSON</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>9105797300</PhoneNum>
      <SignatureDt>2014-11-10</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>ROB WAGNER</PreparerPersonNm>
      <PTIN>P00037480</PTIN>
      <PhoneNum>9107629671</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2013</TaxYr>
    <BuildTS>2015-12-30 17:16:21Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="7">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>4338422</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>2</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>2</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>15</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>15</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>0</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>272000</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>0</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>17</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>17</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">8685</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>8685</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">3200</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>320</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>2880</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">787</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>0</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>787</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">25813</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>25813</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <TravConfMeetingRevAndExpnssAmt>10239</TravConfMeetingRevAndExpnssAmt>
        <TravConfMeetingNetInvstIncmAmt>0</TravConfMeetingNetInvstIncmAmt>
        <TravConfMeetingDsbrsChrtblAmt>10239</TravConfMeetingDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">1608</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>0</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>1532</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>50332</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>26133</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>24123</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>212140</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>212140</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>262472</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>26133</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>236263</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-262455</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>16751</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>43454</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>43454</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>634126</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc2210400001">344968</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>344968</USGovtObligationsEOYFMVAmt>
        <InvstLandCostOrOtherBasisAmt>10400000</InvstLandCostOrOtherBasisAmt>
        <LandBldgInvestmentsBOYAmt>10400000</LandBldgInvestmentsBOYAmt>
        <LandBldgInvestmentsEOYAmt>10400000</LandBldgInvestmentsEOYAmt>
        <LandBldgInvestmentsEOYFMVAmt>3950000</LandBldgInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>11050877</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>10788422</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>4338422</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
        <UnrestrictedBOYAmt>11050877</UnrestrictedBOYAmt>
        <UnrestrictedEOYAmt>10788422</UnrestrictedEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>11050877</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>10788422</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>11050877</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>10788422</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>11050877</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-262455</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>10788422</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>10788422</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLS FARGO ACCT 8533 MONEY MARKET OBLIGATIONS</PropertyDesc>
          <AcquiredDt>2008-11-25</AcquiredDt>
          <SoldDt>2013-02-07</SoldDt>
          <GrossSalesPriceAmt>5000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>5000</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLS FARGO ACCT 8533 MONEY MARKET OBLIGATIONS</PropertyDesc>
          <AcquiredDt>2008-11-25</AcquiredDt>
          <SoldDt>2013-04-11</SoldDt>
          <GrossSalesPriceAmt>50000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>50000</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLS FARGO ACCT 8533 MONEY MARKET OBLIGATIONS</PropertyDesc>
          <AcquiredDt>2008-11-25</AcquiredDt>
          <SoldDt>2013-12-03</SoldDt>
          <GrossSalesPriceAmt>100000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>100000</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLS FARGO ACCT 8533 MONEY MARKET OBLIGATIONS</PropertyDesc>
          <AcquiredDt>2008-11-25</AcquiredDt>
          <SoldDt>2013-12-19</SoldDt>
          <GrossSalesPriceAmt>52000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>52000</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLS FARGO ACCT 8533 MONEY MARKET OBLIGATIONS</PropertyDesc>
          <AcquiredDt>2008-11-25</AcquiredDt>
          <SoldDt>2013-12-20</SoldDt>
          <GrossSalesPriceAmt>20000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>20000</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLS FARGO ACCT 8533 MONEY MARKET OBLIGATIONS</PropertyDesc>
          <AcquiredDt>2008-11-25</AcquiredDt>
          <SoldDt>2013-12-31</SoldDt>
          <GrossSalesPriceAmt>45000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>45000</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>0</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>0</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>258623</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>4761665</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.054314</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>119494</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>5265936</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.022692</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>37316</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>6322263</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.005902</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>60723</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>6409106</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.009474</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>96336</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>11487240</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.008386</DistributionYr5Rt>
        <TotalDistributionRt>0.100768</TotalDistributionRt>
        <AverageDistributionRt>0.020154</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>4464695</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>89981</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>0</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>89981</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>236263</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>0</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>0</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>0</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>840</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>840</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>840</OverpaymentAmt>
        <AppliedToESTaxAmt>840</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>0</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>NC</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>WWW.LADANEFOUNDATION.ORG</WebsiteAddressTxt>
        <IndividualWithBooksNm>PAULA BUIS</IndividualWithBooksNm>
        <PhoneNum>9105797300</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1>11 CAUSEWAY DRIVE</AddressLine1>
          <City>OCEAN ISLE BEACH</City>
          <State>NC</State>
          <ZIPCode>28469</ZIPCode>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>1</ForeignAccountsQuestionInd>
        <ForeignCountryCd>NU</ForeignCountryCd>
      </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>LADANE WILLIAMSON</PersonNm>
          <USAddress>
            <AddressLine1>11 CAUSEWAY DRIVE</AddressLine1>
            <City>OCEAN ISLE BEACH</City>
            <State>NC</State>
            <ZIPCode>28469</ZIPCode>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>10.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>PAULA BUIS</PersonNm>
          <USAddress>
            <AddressLine1>11 CAUSEWAY DRIVE</AddressLine1>
            <City>OCEAN ISLE BEACH</City>
            <State>NC</State>
            <ZIPCode>28469</ZIPCode>
          </USAddress>
          <TitleTxt>SECRETARY/TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ODELL FRASIER BULLINGTON</PersonNm>
          <USAddress>
            <AddressLine1>11 CAUSEWAY DRIVE</AddressLine1>
            <City>OCEAN ISLE BEACH</City>
            <State>NC</State>
            <ZIPCode>28469</ZIPCode>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KENDRA LADANE BULLINGTON</PersonNm>
          <USAddress>
            <AddressLine1>210 ARDEN CREST CT</AddressLine1>
            <City>CARY</City>
            <State>NC</State>
            <ZIPCode>27513</ZIPCode>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MITCHELL GRANT BULLINGTON</PersonNm>
          <USAddress>
            <AddressLine1>11 CAUSEWAY DRIVE</AddressLine1>
            <City>OCEAN ISLE BEACH</City>
            <State>NC</State>
            <ZIPCode>28469</ZIPCode>
          </USAddress>
          <TitleTxt>DIRECTOR</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>569929</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>12756</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>3950000</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>4532685</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>4532685</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>67990</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>4464695</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>223235</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>223235</MinimumInvestmentReturnAmt>
        <TotalTaxAmt>0</TotalTaxAmt>
        <DistributableBeforeAdjAmt>223235</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>223235</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>223235</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>236263</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>236263</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>0</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>236263</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>223235</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>235997</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>236263</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>235997</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>266</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>222969</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>LADANE WILLIAMSON</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>CENTER FOR COMMUNITY TRANSFORMATION INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientForeignAddress>
            <AddressLine1>5TH FLOOR JOSHUA CENTER 1428 TAFT</AddressLine1>
            <AddressLine2>AVE BRGY 676 ZONE 073</AddressLine2>
            <City>MANILA</City>
            <Country>RP</Country>
          </RecipientForeignAddress>
          <RecipientRelationshipTxt>PROGRAM</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROVIDING FUNDING FOR BUILDING IMPROVEMENTS &amp; MAINTENANCE/REPAIR PROJECTS FOR A VOCATIONAL AND TECHNICAL SCHOOL</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>CURE INTERNATIONAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>701 BOSLER AVENUE</AddressLine1>
            <City>LEMOYNE</City>
            <State>PA</State>
            <ZIPCode>17043</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>PROGRAM</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROVIDING FUNDING FOR SURGICAL PROCEDURES FOR CHILDREN IN NEED</GrantOrContributionPurposeTxt>
          <Amt>52000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>DUKE UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>BOX 90600</AddressLine1>
            <City>DURHAM</City>
            <State>NC</State>
            <ZIPCode>27708</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>UNRELATED</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL DONATION</GrantOrContributionPurposeTxt>
          <Amt>17500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>FIFTH AVENUE PRESBYERITAN CHURCH NEW YORK NY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>7 WEST 55TH STREET</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10019</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>UNRELATED</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>IMPROVEMENTS TO CHURCH</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>HOGAR ZACARIAS GUERRA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientForeignAddress>
            <AddressLine1>PO BOX C-085</AddressLine1>
            <City>MANAGUA</City>
            <Country>NU</Country>
          </RecipientForeignAddress>
          <RecipientRelationshipTxt>PROGRAM</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>FUNDING PROTECTION HOME THAT EDUCATES CHILDREN AND TEENAGERS WHO HAVE BEEN VICTIMS OF ABUSE AND ABANDONMENT</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>LA FAMILIA PADRE FABRETTO</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientForeignAddress>
            <AddressLine1>500 MTS AL OESTE</AddressLine1>
            <City>MANAGUA</City>
            <Country>NU</Country>
          </RecipientForeignAddress>
          <RecipientRelationshipTxt>PROGRAM</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROVIDING MEALS FOR CHILDREN</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>NICARAGUAN CHRISTIAN SCHOOL COLEGIA CRISTIANO EN NICARAGUA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>CAMPBELL ST CHURCH OF CHRIST 1490</AddressLine1>
            <AddressLine2>CAMPBELL STREET</AddressLine2>
            <City>JACKSON</City>
            <State>TN</State>
            <ZIPCode>38305</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>PROGRAM</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROVIDING FUNDING TO PROGRAM WHICH IMPROVES THE SCHOOL FACILITIES AND EDUCATIONAL SERVICES</GrantOrContributionPurposeTxt>
          <Amt>32140</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>POTTER'S HOUSE ASOCIACION CASA DEL ALFARERO</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientForeignAddress>
            <AddressLine1>29 CALLE 7-42 ZONA 3</AddressLine1>
            <City>GUATEMALA</City>
            <Country>GT</Country>
          </RecipientForeignAddress>
          <RecipientRelationshipTxt>PROGRAM</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROVIDING FUNDING OF CONSTRUCTION MATERIALS FOR NEW HOMES AND IMPROVEMENTS TO EDUCATIONAL FACILITIES IN THE POVERTY ZONE OF GUATEMALA CITY.</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>ST JAMES CHURCH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>25 S 3RD ST</AddressLine1>
            <City>WILMINGTON</City>
            <State>NC</State>
            <ZIPCode>28401</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>UNRELATED</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL DONATION</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>212140</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>15</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>17</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>17</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>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING / TAX PREPARATION</CategoryTxt>
        <Amt>3200</Amt>
        <NetInvestmentIncomeAmt>320</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2880</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc2210400001">
      <USGovtObligationsBookVlEOYAmt>0</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>0</USGovtObligationsEOYFMVAmt>
      <StateLocalSecBookVlEOYAmt>344968</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>344968</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>8685</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>8685</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>ANNUAL REPORT FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>25</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>FILING FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>20</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK CHARGES FOR CHARITABLE TRANSFERS</Desc>
        <RevenueAndExpensesPerBooksAmt>751</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>751</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>312</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>281</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PROGRAM PROMOTION</Desc>
        <RevenueAndExpensesPerBooksAmt>500</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>500</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>OTHER PROFESSIONAL FEES</CategoryTxt>
        <Amt>787</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>787</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>REAL ESTATE TAXES</CategoryTxt>
        <Amt>25813</Amt>
        <NetInvestmentIncomeAmt>25813</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>