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        <BeginningOfYearBalance>10761522</BeginningOfYearBalance>
        <Contributions>241093</Contributions>
        <InvestmentEarningsOrLosses>-365973</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>143343</GrantsOrScholarships>
        <EndOfYearBalance>10493299</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <BoardDesignatedEOYBalance>0.45000</BoardDesignatedEOYBalance>
      <PermanentEndowmentEOYBalance>0.41000</PermanentEndowmentEOYBalance>
      <TermEndowmentEOYBalance>0.14000</TermEndowmentEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <OtherLiabilities>
        <Description>CHARITABLE REMAINDER UNITRUST LIABIL</Description>
        <Amount>73135</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>73135</TotalOfAmounts>
      <Form990ScheduleDPartXIII>
        <Identifier>INTENDED USES FOR ENDOWMENT FUNDS</Identifier>
        <ReturnReference>SCHEDULE D, PAGE 2, PART V, LINE 4</ReturnReference>
        <Explanation>THE ENDOWMENT FUNDS ARE INTENDED TO BE USED FOR VARIOUS PURPOSES, INCLUDING ANNUAL SCHOLARSHIPS AND ANNUAL OPERATIONAL SUPPORT TO THE PORTER-GAUD SCHOOL, AS WELL AS OTHER LONG TERM OPERATIONAL NEEDS OF THE PORTER-GAUD SCHOOL.</Explanation>
      </Form990ScheduleDPartXIII>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="RetDoc5">
      <RecordsMaintained>true</RecordsMaintained>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>PORTER-GAUD SCHOOL</BusinessNameLine1>
          <BusinessNameLine2>PORTER-GAUD SCHOOL</BusinessNameLine2>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>300 ALBEMARLE RD</AddressLine1>
          <AddressLine2>300 ALBEMARLE RD</AddressLine2>
          <City>CHARLESTON</City>
          <State>SC</State>
          <ZIPCode>29407</ZIPCode>
        </AddressUS>
        <EINOfRecipient>570342032</EINOfRecipient>
        <IRCSection>501C3</IRCSection>
        <AmountOfCashGrant>347359</AmountOfCashGrant>
        <MethodOfValuation>FMV</MethodOfValuation>
        <PurposeOfGrant>ASSISTANCE TO SCHOOL</PurposeOfGrant>
      </RecipientTable>
      <TotalNbrOf501C3AndGovtGrants>1</TotalNbrOf501C3AndGovtGrants>
      <Form990ScheduleIPartIV>
        <Identifier>PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS INSIDE THE UNITED STATES</Identifier>
        <ReturnReference>SCHEDULE I, PAGE 1, PART I, LINE 2</ReturnReference>
        <Explanation>GRANTS AND ASSISTANCE ARE MONITORED BY THE FOUNDATION BY ENSURING AMOUNTS ARE USED FOR APPROVED PURPOSES BY PORTER-GAUD SCHOOL PER REPORTS, BUDGETS, AND OTHER APPROVALS.</Explanation>
      </Form990ScheduleIPartIV>
      <Form990ScheduleIPartIV>
        <Identifier>ADDITIONAL INFORMATION</Identifier>
        <ReturnReference>SCHEDULE I, PAGE 4, PART IV</ReturnReference>
        <Explanation>ASSISTANCE IS PROVIDED BY THE FOUNDATION TO PORTER-GAUD SCHOOL IN CONNECTION WITH THE FOUNDATION'S MISSION AND PURPOSE. ASSISTANCE IS PROVIDED TO PORTER-GAUD SCHOOL FOR USE IN VARIOUS PROGRAMS AND OPERATIONS.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="RetDoc6">
      <SeverancePayment>false</SeverancePayment>
      <SupplementalNonqualRetirePlan>false</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>D DUBOSE EGLSETON JR</NamePerson>
        <Title>EX OFFICIO</Title>
        <CompBasedOnRelatedOrgs>259116</CompBasedOnRelatedOrgs>
        <DeferredCompRelatedOrgs>31198</DeferredCompRelatedOrgs>
        <TotalCompensationRelatedOrgs>290314</TotalCompensationRelatedOrgs>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleM documentId="RetDoc7">
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>6</NumberOfContributions>
        <NoncashContribsRptdF990>42946</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FMV ON CONTRIBUTION DATE</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>false</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>false</ThirdPartiesUsed>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc8">
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S MISSION</Identifier>
        <ReturnReference>FORM 990 - ORGANIZATION'S MISSION</ReturnReference>
        <Explanation>THE FOUNDATION IS OPERATED FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF, THE PORTER ACADEMY D/B/A PORTER-GAUD SCHOOL AND ITS AFFILIATED ENTITIES (THE "SUPPORTED CHARITIES"). THE FOUNDATION SUPPORTS THE SUPPORTED CHARITIES BY STIMULATING, RECEIVING AND GRANTING CHARITABLE GIFTS TO ADVANCE PROGRAMS OF EDUCATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11B</ReturnReference>
        <Explanation>A DRAFTED COPY OF FORM 990 IS PROVIDED TO BOARD MEMBERS FOR REVIEW AND APPROVAL PRIOR TO FILING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ENFORCEMENT OF CONFLICTS POLICY</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 12C</ReturnReference>
        <Explanation>A COPY OF THE POLICY IS CIRCULATED ANNUALLY FOR REVIEW AND APPROVAL.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION PROCESS FOR TOP OFFICIAL</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 15A</ReturnReference>
        <Explanation>EMPLOYMENT CONTRACTS COMPLY WITH BOARD APPROVED BUDGET AMOUNTS AND ARE HANDLED BY THE PORTER-GAUD SCHOOL HUMAN RESOURCES DEPARTMENT AND ARE SIGNED BY THE PORTER-GAUD SCHOOL HEAD OF SCHOOL.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION PROCESS FOR OFFICERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 15B</ReturnReference>
        <Explanation>SAME AS 15A</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS DISCLOSURE EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 19</ReturnReference>
        <Explanation>THIS INFORMATION IS NOT MADE GENERALLY AVAILABLE. REQUESTS ARE CONSIDERED ON A CASE-BY-CASE BASIS.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc9">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>PORTER-GAUD SCHOOL</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>300 ALBEMARLE RD</AddressLine1>
          <City>CHARLESTON</City>
          <State>SC</State>
          <ZIPCode>29407</ZIPCode>
        </AddressUS>
        <EIN>570342032</EIN>
        <PrimaryActivities>SCHOOL</PrimaryActivities>
        <LegalDomicileState>SC</LegalDomicileState>
        <ExemptCodeSection>501C3</ExemptCodeSection>
        <PublicCharityStatus>2</PublicCharityStatus>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>true</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>true</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>false</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <DividendsRelatedOrganization>false</DividendsRelatedOrganization>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>true</SharingOfFacilities>
      <SharingOfPaidEmployees>true</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>PORTER-GAUD SCHOOL</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>B</TransactionType>
        <AmountInvolved>347359</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>PORTER-GAUD SCHOOL</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>C</TransactionType>
        <AmountInvolved>16000</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>PORTER-GAUD SCHOOL</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>C</TransactionType>
        <AmountInvolved>5000</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>PORTER-GAUD SCHOOL</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>O</TransactionType>
        <AmountInvolved>328650</AmountInvolved>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>