﻿<?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="2012v2.1">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2014-05-12T14:15:55-05:00</Timestamp>
    <TaxPeriodEndDate>2013-06-30</TaxPeriodEndDate>
    <PreparerFirm>
      <EIN>510608962</EIN>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>WARRING &amp; COMPANY LLC CPAS</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>11 NORTH WASHINGTON ST SUITE 720</AddressLine1>
        <City>ROCKVILLE</City>
        <State>MD</State>
        <ZIPCode>20850</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990PF</ReturnType>
    <TaxPeriodBeginDate>2012-07-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>521853718</EIN>
      <Name>
        <BusinessNameLine1>FRIEDMAN-FRENCH FOUNDATION INC</BusinessNameLine1>
      </Name>
      <NameControl>FRIE</NameControl>
      <Phone>2023328263</Phone>
      <USAddress>
        <AddressLine1>2330 CALIFORNIA STREET NW</AddressLine1>
        <City>WASHINGTON</City>
        <State>DC</State>
        <ZIPCode>200081637</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>EMANUEL FRIEDMAN</Name>
      <Title>PRESIDENT</Title>
      <Phone>2023328263</Phone>
      <DateSigned>2014-05-09</DateSigned>
      <AuthorizeThirdParty>1</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>KATHRYN COZZENS</Name>
      <PTIN>P00730458</PTIN>
      <Phone>3012600809</Phone>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2015-12-30 17:16:21Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="8">
    <IRS990PF documentId="RetDoc1235000001">
      <ExemptPF>X</ExemptPF>
      <FMVAssetsEOY>14545554</FMVAssetsEOY>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AnalysisOfRevenueAndExpenses>
        <ContriReceivedRevAndExpnss>3695000</ContriReceivedRevAndExpnss>
        <InterestOnSavingsRevAndExpnss>5</InterestOnSavingsRevAndExpnss>
        <InterestOnSavingsNetInvstIncm>5</InterestOnSavingsNetInvstIncm>
        <InterestOnSavingsAdjNetIncm>5</InterestOnSavingsAdjNetIncm>
        <DividendsRevAndExpnss>67512</DividendsRevAndExpnss>
        <DividendsNetInvstIncm>67512</DividendsNetInvstIncm>
        <DividendsAdjNetIncm>67512</DividendsAdjNetIncm>
        <NetGainSaleAssetsRevAndExpnss>-576274</NetGainSaleAssetsRevAndExpnss>
        <GrossSalesPrice>29651</GrossSalesPrice>
        <CapitalGainNetIncmNetInvstIncm>0</CapitalGainNetIncmNetInvstIncm>
        <OtherIncomeRevAndExpnss referenceDocumentId="RetDoc2001500001">4036</OtherIncomeRevAndExpnss>
        <OtherIncomeNetInvstIncm>4036</OtherIncomeNetInvstIncm>
        <OtherIncomeAdjNetIncm>4036</OtherIncomeAdjNetIncm>
        <TotalRevenueAndExpenses>3190279</TotalRevenueAndExpenses>
        <TotalNetInvestmentIncome>71553</TotalNetInvestmentIncome>
        <TotalAdjustedNetIncome>71553</TotalAdjustedNetIncome>
        <CompOfcrDirTrstRevAndExpnss>0</CompOfcrDirTrstRevAndExpnss>
        <CompOfcrDirTrstNetInvstIncm>0</CompOfcrDirTrstNetInvstIncm>
        <CompOfcrDirTrstAdjNetIncm>0</CompOfcrDirTrstAdjNetIncm>
        <CompOfcrDirTrstDsbrsChrtblPrps>0</CompOfcrDirTrstDsbrsChrtblPrps>
        <AccountingFeesRevAndExpnss referenceDocumentId="RetDoc2002200001">11000</AccountingFeesRevAndExpnss>
        <AccountingFeesNetInvstIncm>5500</AccountingFeesNetInvstIncm>
        <AccountingFeesAdjNetIncm>0</AccountingFeesAdjNetIncm>
        <AccountingFeesDsbrsChrtblPrps>5500</AccountingFeesDsbrsChrtblPrps>
        <TaxesRevAndExpnss referenceDocumentId="RetDoc2002500001">8500</TaxesRevAndExpnss>
        <TaxesNetInvstIncm>0</TaxesNetInvstIncm>
        <TaxesAdjNetIncm>0</TaxesAdjNetIncm>
        <TaxesDsbrsChrtblPrps>0</TaxesDsbrsChrtblPrps>
        <OtherExpensesRevAndExpnss referenceDocumentId="RetDoc2003200001">89536</OtherExpensesRevAndExpnss>
        <OtherExpensesNetInvstIncm>89536</OtherExpensesNetInvstIncm>
        <OtherExpensesAdjNetIncm>0</OtherExpensesAdjNetIncm>
        <OtherExpensesDsbrsChrtblPrps>0</OtherExpensesDsbrsChrtblPrps>
        <TotOprExpensesRevAndExpnss>109036</TotOprExpensesRevAndExpnss>
        <TotOprExpensesNetInvstIncm>95036</TotOprExpensesNetInvstIncm>
        <TotOprExpensesAdjNetIncm>0</TotOprExpensesAdjNetIncm>
        <TotOprExpensesDsbrsChrtblPrps>5500</TotOprExpensesDsbrsChrtblPrps>
        <ContriGiftsPaidRevAndExpnss>808880</ContriGiftsPaidRevAndExpnss>
        <ContriGiftsPaidDsbrsChrtblPrps>808880</ContriGiftsPaidDsbrsChrtblPrps>
        <TotalExpensesRevAndExpnss>917916</TotalExpensesRevAndExpnss>
        <TotalExpensesNetInvstIncm>95036</TotalExpensesNetInvstIncm>
        <TotalExpensesAdjNetIncm>0</TotalExpensesAdjNetIncm>
        <TotalExpensesDsbrsChrtblPrps>814380</TotalExpensesDsbrsChrtblPrps>
        <ExcessOfRevenueOverExpenses>2272363</ExcessOfRevenueOverExpenses>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <AdjustedNetIncome>71553</AdjustedNetIncome>
      </AnalysisOfRevenueAndExpenses>
      <BalanceSheets>
        <CashBOY>31885</CashBOY>
        <CashEOY>756454</CashEOY>
        <CashEOYFMV>756454</CashEOYFMV>
        <AccountsReceivable>48600</AccountsReceivable>
        <AccountsReceivableEOY>48600</AccountsReceivableEOY>
        <AccountsReceivableEOYFMV>48600</AccountsReceivableEOYFMV>
        <InvestmentsCorpStockBOY>423846</InvestmentsCorpStockBOY>
        <InvestmentsCorpStockEOY referenceDocumentId="RetDoc2018900001">418136</InvestmentsCorpStockEOY>
        <InvestmentsCorpStockEOYFMV>59511</InvestmentsCorpStockEOYFMV>
        <InvestmentsOtherBOY>11157390</InvestmentsOtherBOY>
        <InvestmentsOtherEOY referenceDocumentId="RetDoc2018100001">12662294</InvestmentsOtherEOY>
        <InvestmentsOtherEOYFMV>13680989</InvestmentsOtherEOYFMV>
        <TotalAssetsBOY>11613121</TotalAssetsBOY>
        <TotalAssetsEOY>13885484</TotalAssetsEOY>
        <TotalAssetsEOYFMV>14545554</TotalAssetsEOYFMV>
        <TotalLiabilitiesBOY>0</TotalLiabilitiesBOY>
        <TotalLiabilitiesEOY>0</TotalLiabilitiesEOY>
        <OrgThatDoNotFollowSFAS117>X</OrgThatDoNotFollowSFAS117>
        <CapitalStockBOY>0</CapitalStockBOY>
        <CapitalStockEOY>0</CapitalStockEOY>
        <PaidInOrCapitalSurplusBOY>0</PaidInOrCapitalSurplusBOY>
        <PaidInOrCapitalSurplusEOY>0</PaidInOrCapitalSurplusEOY>
        <RetainedEarningsBOY>11613121</RetainedEarningsBOY>
        <RetainedEarningsEOY>13885484</RetainedEarningsEOY>
        <TotalNetAssetsBOY>11613121</TotalNetAssetsBOY>
        <TotalNetAssetsEOY>13885484</TotalNetAssetsEOY>
        <TotalLiabilitiesNetAssetsBOY>11613121</TotalLiabilitiesNetAssetsBOY>
        <TotalLiabilitiesNetAssetsEOY>13885484</TotalLiabilitiesNetAssetsEOY>
      </BalanceSheets>
      <ChangesInNetAssetsFundBalances>
        <TotalNetAssetsFundBalancesBOY>11613121</TotalNetAssetsFundBalancesBOY>
        <ExcessOfRevenueOverExpenses>2272363</ExcessOfRevenueOverExpenses>
        <OtherIncreases>0</OtherIncreases>
        <Subtotal>13885484</Subtotal>
        <OtherDecreases>0</OtherDecreases>
        <TotalNetAssetsFundBalancesEOY>13885484</TotalNetAssetsFundBalancesEOY>
      </ChangesInNetAssetsFundBalances>
      <CapitalGainsAndLosses>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>FROM PASSTHROUGH - EJF FINANCIAL SERVICES FUND, LP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2000-01-01</DateAcquired>
          <DateSold>2013-06-30</DateSold>
          <GainOrLoss>13453</GainOrLoss>
          <GainsMinusExcessOrLosses>13453</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>FROM PASSTHROUGH - EJF FINANCIAL SERVICES FUND, LP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2000-01-01</DateAcquired>
          <DateSold>2013-06-30</DateSold>
          <GainOrLoss>613</GainOrLoss>
          <GainsMinusExcessOrLosses>613</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>FROM PASSTHROUGH - EJF INCOME FUND, LP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2000-01-01</DateAcquired>
          <DateSold>2013-06-30</DateSold>
          <GainOrLoss>-7</GainOrLoss>
          <GainsMinusExcessOrLosses>-7</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>FROM PASSTHROUGH - EJF INCOME FUND, LP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2000-01-01</DateAcquired>
          <DateSold>2013-06-30</DateSold>
          <GainOrLoss>66</GainOrLoss>
          <GainsMinusExcessOrLosses>66</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>FROM PASSTHROUGH - EJF SIDECAR FUND, A</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2000-01-01</DateAcquired>
          <DateSold>2013-06-30</DateSold>
          <GainOrLoss>-3282</GainOrLoss>
          <GainsMinusExcessOrLosses>-3282</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>FROM PASSTHROUGH - KODIAK FUNDING, LP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2000-01-01</DateAcquired>
          <DateSold>2013-06-30</DateSold>
          <GainOrLoss>-510583</GainOrLoss>
          <GainsMinusExcessOrLosses>-510583</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>PROCEEDS FOR FIOS MERGER</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2000-01-01</DateAcquired>
          <DateSold>2013-06-30</DateSold>
          <GrossSalesPrice>1340</GrossSalesPrice>
          <Depreciation>0</Depreciation>
          <CostOrOtherBasis>5710</CostOrOtherBasis>
          <GainOrLoss>-4370</GainOrLoss>
          <GainsMinusExcessOrLosses>-4370</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>LOSS ON DISPOSAL OF EJF DISTRESSED FUND, LP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2000-01-01</DateAcquired>
          <DateSold>2013-06-30</DateSold>
          <CostOrOtherBasis>100475</CostOrOtherBasis>
          <GainOrLoss>-100475</GainOrLoss>
          <GainsMinusExcessOrLosses>-100475</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>GAIN ON DISPOSAL OF EJF SIDECAR FUND, A</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2000-01-01</DateAcquired>
          <DateSold>2013-06-30</DateSold>
          <GrossSalesPrice>28311</GrossSalesPrice>
          <GainOrLoss>28311</GainOrLoss>
          <GainsMinusExcessOrLosses>28311</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainNetIncome>-576274</CapitalGainNetIncome>
        <NetShortTermCapitalGainOrLoss>-497137</NetShortTermCapitalGainOrLoss>
      </CapitalGainsAndLosses>
      <QlfyUndSect4940eForReducedTax>
        <LiableFor4942Tax>0</LiableFor4942Tax>
        <QualifyingDistributionsYear1>683939</QualifyingDistributionsYear1>
        <NoncharitableAssetsYear1>10656823</NoncharitableAssetsYear1>
        <DistributionRatioYear1>0.064179</DistributionRatioYear1>
        <QualifyingDistributionsYear2>699719</QualifyingDistributionsYear2>
        <NoncharitableAssetsYear2>10854504</NoncharitableAssetsYear2>
        <DistributionRatioYear2>0.064463</DistributionRatioYear2>
        <QualifyingDistributionsYear3>814578</QualifyingDistributionsYear3>
        <NoncharitableAssetsYear3>10772177</NoncharitableAssetsYear3>
        <DistributionRatioYear3>0.075619</DistributionRatioYear3>
        <QualifyingDistributionsYear4>1024076</QualifyingDistributionsYear4>
        <NoncharitableAssetsYear4>14582276</NoncharitableAssetsYear4>
        <DistributionRatioYear4>0.070227</DistributionRatioYear4>
        <QualifyingDistributionsYear5>1505067</QualifyingDistributionsYear5>
        <NoncharitableAssetsYear5>12323543</NoncharitableAssetsYear5>
        <DistributionRatioYear5>0.122129</DistributionRatioYear5>
        <TotalDistributionRatio>0.396617</TotalDistributionRatio>
        <AverageDistributionRatio>0.079323</AverageDistributionRatio>
        <NetNoncharitableAssets>13147178</NetNoncharitableAssets>
        <AdjustedNoncharitableAssets>1042874</AdjustedNoncharitableAssets>
        <OnePercentNetInvestmentIncome>0</OnePercentNetInvestmentIncome>
        <AdjNonchrtblAssetsAndOnePct>1042874</AdjNonchrtblAssetsAndOnePct>
        <QualifyingDistributions>814380</QualifyingDistributions>
      </QlfyUndSect4940eForReducedTax>
      <ExciseTaxBasedOnInvestmentIncm>
        <InvestmentIncomeExciseTax>0</InvestmentIncomeExciseTax>
        <TaxUnderSection511>0</TaxUnderSection511>
        <Subtotal>0</Subtotal>
        <SubtitleATax>0</SubtitleATax>
        <TaxBasedOnInvestmentIncome>0</TaxBasedOnInvestmentIncome>
        <EstTaxPaymentsAndOverpayment>11002</EstTaxPaymentsAndOverpayment>
        <TotalCreditsAndPayments>11002</TotalCreditsAndPayments>
        <Overpayment>11002</Overpayment>
        <AmountCreditedToNextYear>11002</AmountCreditedToNextYear>
        <AmountToBeRefunded>0</AmountToBeRefunded>
      </ExciseTaxBasedOnInvestmentIncm>
      <StatementsRegardingActivities>
        <LegislativePoliticalActivities>0</LegislativePoliticalActivities>
        <MoreThan100Spent>0</MoreThan100Spent>
        <Form1120POLFiled>0</Form1120POLFiled>
        <Sect4955TaxOnOrganization>0</Sect4955TaxOnOrganization>
        <Sect4955TaxOnManagers>0</Sect4955TaxOnManagers>
        <ReimbursementOfTax>0</ReimbursementOfTax>
        <ActivitiesNotPrevReported>0</ActivitiesNotPrevReported>
        <ChangesToArticlesOrBylaws>0</ChangesToArticlesOrBylaws>
        <UnrelatedBusIncomeOver1000>0</UnrelatedBusIncomeOver1000>
        <TerminationEtc>0</TerminationEtc>
        <RequirementsOfSect508e>1</RequirementsOfSect508e>
        <AtLeast5000InAssets>1</AtLeast5000InAssets>
        <StatesFiledWith>DC</StatesFiledWith>
        <StatesFiledWith>DE</StatesFiledWith>
        <StatesFiledWith>VA</StatesFiledWith>
        <Form990PFFiledWithAG>1</Form990PFFiledWithAG>
        <PrivateOperatingFoundation>0</PrivateOperatingFoundation>
        <NewSubstantialContributors>0</NewSubstantialContributors>
        <InterestInControlledEntity>0</InterestInControlledEntity>
        <ApplicableInsuranceContract>0</ApplicableInsuranceContract>
        <ComplyWithPublicInspectionRqr>1</ComplyWithPublicInspectionRqr>
        <WebsiteAddress>N/A</WebsiteAddress>
        <BooksInCareOfPersonName>ALEXIS ROYALTY</BooksInCareOfPersonName>
        <BooksInCareOfPhoneNumber>7038750561</BooksInCareOfPhoneNumber>
        <BooksInCareOfUSAddress>
          <AddressLine1>2107 WILSON BLVD SUITE 410</AddressLine1>
          <City>ARLINGTON</City>
          <State>VA</State>
          <ZIPCode>22201</ZIPCode>
        </BooksInCareOfUSAddress>
        <ForeignBank>0</ForeignBank>
      </StatementsRegardingActivities>
      <StatementsRegardingActy4720>
        <SaleOrExchangeWithDsqflyPerson>0</SaleOrExchangeWithDsqflyPerson>
        <BorrowOrLendWithDsqflyPerson>0</BorrowOrLendWithDsqflyPerson>
        <FurnishedGoodsWithDsqflyPerson>0</FurnishedGoodsWithDsqflyPerson>
        <PayCompensationToDsqflyPerson>0</PayCompensationToDsqflyPerson>
        <TransferAssetsToDsqflyPerson>0</TransferAssetsToDsqflyPerson>
        <PaymentToGovernmentOffical>0</PaymentToGovernmentOffical>
        <UncorrectedPriorActs>0</UncorrectedPriorActs>
        <UndistributedIncomePriorYears>0</UndistributedIncomePriorYears>
        <BusinessHoldings>0</BusinessHoldings>
        <JeopardyInvestments>0</JeopardyInvestments>
        <UncorrectedJeopardyInvestments>0</UncorrectedJeopardyInvestments>
        <InfluenceLegislation>0</InfluenceLegislation>
        <InfluenceElection>0</InfluenceElection>
        <GrantsToIndividuals>0</GrantsToIndividuals>
        <GrantsToOrganizations>0</GrantsToOrganizations>
        <NoncharitablePurpose>0</NoncharitablePurpose>
        <RcvFundsToPayPrsnlBnftContract>0</RcvFundsToPayPrsnlBnftContract>
        <PayPremiumsPrsnlBnftContract>0</PayPremiumsPrsnlBnftContract>
        <ProhibitedTaxShelterTransactn>0</ProhibitedTaxShelterTransactn>
      </StatementsRegardingActy4720>
      <OfcrDirTrusteesKeyEmployeeInfo>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>EMANUEL FRIEDMAN</PersonName>
          <USAddress>
            <AddressLine1>2330 CALIFORNIA STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>200081637</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>KINDY FRENCH</PersonName>
          <USAddress>
            <AddressLine1>2330 CALIFORNIA STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>200081637</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>MILLICENT ROTH</PersonName>
          <USAddress>
            <AddressLine1>2330 CALIFORNIA STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>200081637</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <CompOfHighestPaidEmplNONE>NONE</CompOfHighestPaidEmplNONE>
        <TotNumberOfOthEmplPaidOver50k>0</TotNumberOfOthEmplPaidOver50k>
        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
        <TotNumberOfCntrctPaidOver50k>0</TotNumberOfCntrctPaidOver50k>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SummaryOfDirectCharitableActy>
        <Description1>THE FOUNDATION'S CHARITABLE ACTIVITIES CONSISTS SOLELY OF MAKING CONTRIBUTIONS TO A VARIETY OF CHARITABLE ORGANIZATIONS.</Description1>
        <Expenses1>0</Expenses1>
      </SummaryOfDirectCharitableActy>
      <SumOfProgramRelatedInvestments>
        <Total>0</Total>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>13068658</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>278731</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>0</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>13347389</TotalFMVOfUnusedAssets>
        <ReductionClaimed>0</ReductionClaimed>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>13347389</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>200211</CashDeemedCharitable>
        <NetNoncharitableAssets>13147178</NetNoncharitableAssets>
        <MinimumInvestmentReturn>657359</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>657359</MinimumInvestmentReturn>
        <TotalTax>0</TotalTax>
        <DistributableAmountBeforeAdj>657359</DistributableAmountBeforeAdj>
        <RecoveriesQlfyDistributions>0</RecoveriesQlfyDistributions>
        <DistributableAmountBeforeDed>657359</DistributableAmountBeforeDed>
        <DeductionFrDistributableAmount>0</DeductionFrDistributableAmount>
        <DistributableAmountAsAdjusted>657359</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>814380</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <QualifyingDistributions>814380</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>0</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>814380</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>657359</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>0</UndistributedIncomePriorYear>
        <TotalForPriorYears>0</TotalForPriorYears>
        <ExcessDistriCarryoverYear5>930653</ExcessDistriCarryoverYear5>
        <ExcessDistriCarryoverYear3>286243</ExcessDistriCarryoverYear3>
        <ExcessDistriCarryoverYear2>170199</ExcessDistriCarryoverYear2>
        <ExcessDistriCarryoverYear1>161804</ExcessDistriCarryoverYear1>
        <TotalExcessDistriCarryover>1548899</TotalExcessDistriCarryover>
        <QualifyingDistributions>814380</QualifyingDistributions>
        <AppliedToYear1>0</AppliedToYear1>
        <AppliedToPriorYears>0</AppliedToPriorYears>
        <TreatedAsDistriFromCorpus>0</TreatedAsDistriFromCorpus>
        <AppliedToCurrentYear>657359</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>157021</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>0</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>0</ExcessDistriCyovAppliedCY>
        <TotalCorpus>1705920</TotalCorpus>
        <PriorYearUndistributedIncome>0</PriorYearUndistributedIncome>
        <PriorYearDeficiencyOrTax>0</PriorYearDeficiencyOrTax>
        <TaxableAmount1>0</TaxableAmount1>
        <TaxableAmount2>0</TaxableAmount2>
        <UndistributedIncomeCY>0</UndistributedIncomeCY>
        <DistriFromCorpus170b1EOr4942g3>0</DistriFromCorpus170b1EOr4942g3>
        <ExcessDistriCyovFromYear5>930653</ExcessDistriCyovFromYear5>
        <ExcessDistriCyovToNextYear>775267</ExcessDistriCyovToNextYear>
        <ExcessFromYear3>286243</ExcessFromYear3>
        <ExcessFromYear2>170199</ExcessFromYear2>
        <ExcessFromYear1>161804</ExcessFromYear1>
        <ExcessFromCurrentYear>157021</ExcessFromCurrentYear>
      </UndistributedIncome>
      <SupplementaryInformation>
        <OnlyContributesToPreselected>X</OnlyContributesToPreselected>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ADVENTURE CYCLING ASSOCIATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>150 EAST PINE STREET PO BOX 8308</AddressLine1>
            <City>MISSOULA</City>
            <State>MT</State>
            <ZIPCode>59807</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ANIMAL WELFARE LEAGUE OF ALEXANDRIA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>401 EISENHOWER AVENUE</AddressLine1>
            <City>ALEXANDRIA</City>
            <State>VA</State>
            <ZIPCode>22304</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ANTI-DEFAMATION LEAGUE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1100 CONNECTICUT AVENUE NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20036</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>13350</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BICYCLE HELMEY SAFETY INSTITUTE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4611 SEVENTH STREET SOUTH</AddressLine1>
            <City>ARLINGTON</City>
            <State>VA</State>
            <ZIPCode>22204</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CENTER FOR AUTO SAFETY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1825 CONNECTICUT AVENUE NW SUITE</AddressLine1>
            <AddressLine2>330</AddressLine2>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20009</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CENTER FOR SCIENCE IN THE PUBLIC INTEREST</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1220 L STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20005</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CHEETAH CONSERVATION FUND</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 2496</AddressLine1>
            <City>ALEXANDRIA</City>
            <State>VA</State>
            <ZIPCode>22301</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>60000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CHILDREN'S NATIONAL MEDICAL CENTER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>111 MICHIGAN AVENUE NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20010</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>50000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>COALITION FOR CAPITAL CRESCENT TRAIL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 30703</AddressLine1>
            <City>BETHESDA</City>
            <State>MD</State>
            <ZIPCode>20824</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DC HEBREW LANGUAGE CHARTER SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>6015-17 CHILLUM PLACE NE</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20011</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FISHER HOUSE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>111 ROCKVILLE PIKE SUITE 420</AddressLine1>
            <City>ROCKVILLE</City>
            <State>MD</State>
            <ZIPCode>20850</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FRIENDS OF THE HIGH LINE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>529 WEST 20TH STREET SUITE 8W</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10011</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FRIENDS OF THE NORTH FORK OF THE SHENANDOAH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 746</AddressLine1>
            <City>WOODSTOCK</City>
            <State>VA</State>
            <ZIPCode>22664</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>250</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FROG POND EARLY LEARNING CENTER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>7204 HARRISON LANE</AddressLine1>
            <City>ALEXANDRIA</City>
            <State>VA</State>
            <ZIPCode>22306</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>GEORGE WASHINGTON UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>GW HILL 2300 H STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20037</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>105000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HELPING HANDS OF KERALA INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>9 MACK AVENUE</AddressLine1>
            <City>HICKSVILLE</City>
            <State>NY</State>
            <ZIPCode>11801</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HOUSTON ZOO INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1513 CAMBRIDGE STREET</AddressLine1>
            <City>HOUSTON</City>
            <State>TX</State>
            <ZIPCode>77030</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JEWISH JUMPSTART</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1801 AVENUE OF THE STARS SUITE 322</AddressLine1>
            <City>LOS ANGELES</City>
            <State>CA</State>
            <ZIPCode>90067</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>70000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JEWISH LEARNING EXCHANGE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>18511 VIBURNUM WAY</AddressLine1>
            <City>OLNEY</City>
            <State>MD</State>
            <ZIPCode>20832</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>20000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JEWISH STUDY CENTER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>5614 CONNECTICUT AVE 180</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20008</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>KIDS CORNER DAY CARE CENTER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2200 CALIFORNIA STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20008</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LANGUAGE ETC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2200 CALIFORNIA STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20008</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MIZEL MUSEUM OF JUDACIA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>400 SOUTH KEARNEY STREET</AddressLine1>
            <City>DENVER</City>
            <State>CO</State>
            <ZIPCode>80224</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>85500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MOISHE HOUSE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>441 SAXONY ROAD STE 210</AddressLine1>
            <City>LOS ANGELES</City>
            <State>CA</State>
            <ZIPCode>92024</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>50000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NATIONWIDE CHILDREN'S HOSPITAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>700 CHILDRENS DRIVE</AddressLine1>
            <City>COLUMBUS</City>
            <State>OH</State>
            <ZIPCode>43205</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NEXT STEP FITNESS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4447 REDONDO BEACH BLVD</AddressLine1>
            <City>LAWNDALE</City>
            <State>CA</State>
            <ZIPCode>90260</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>2500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NORTH CAROLINA OUTWARD BOUND</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2582 RICEVILLE RD</AddressLine1>
            <City>ASHEVILLE</City>
            <State>NC</State>
            <ZIPCode>28805</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>2500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>OSU GREYHOUND HEALTH &amp; WELLNESS PROGRAM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>601 VERNON THARP STREET</AddressLine1>
            <City>COLUMBUS</City>
            <State>OH</State>
            <ZIPCode>43210</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>100000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>PRESENTING DENVER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1111 OSAGE STREET UNIT 11</AddressLine1>
            <City>DENVER</City>
            <State>CO</State>
            <ZIPCode>80204</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>RESTORE MASS AVE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2401 TRACY PLACE NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20008</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ROLLING DOG FARM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 150</AddressLine1>
            <City>LANCASTER</City>
            <State>NH</State>
            <ZIPCode>03584</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>RONALD MCDONALD HOUSE CENTRAL OH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>711 E LIVINGSTON AVE</AddressLine1>
            <City>COLUMBUS</City>
            <State>OH</State>
            <ZIPCode>43205</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SHENANDOAH VALLEY MUSIC FESTIVAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>102 N MAIN STREET</AddressLine1>
            <City>WOODSTOCK</City>
            <State>VA</State>
            <ZIPCode>22664</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SHERIDAN KALORAMA HISTORICAL ASSOCIATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2401 TRACY PLACE NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20008</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SIXTH &amp; I HISTORIC SYNAGOGUE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>600 I STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20001</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ST CHRISTOPHER'S CHURCH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>6320 HANOVER AVENUE</AddressLine1>
            <City>SPRINGFIELD</City>
            <State>VA</State>
            <ZIPCode>22150</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ST LUKE'S SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>7005 GEORGETOWN PIKE</AddressLine1>
            <City>MCLEAN</City>
            <State>VA</State>
            <ZIPCode>22101</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ST PATRICK'S EPISCOPAL DAY SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4700 WHITEHAVEN PARKWAY NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20007</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>THE CELL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>99 WEST 12TH AVENUE</AddressLine1>
            <City>DENVER</City>
            <State>CO</State>
            <ZIPCode>80204</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>11500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>USA ALZHEIMER'S NETWORK</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1101 K STREET NW SUITE 400</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20005</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>34280</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>WASHINGTON HUMANE SOCIETY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>7319 GEORGIA AVENUE NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20012</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>12000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>WASHINGTON AREA BICYCLIST ASSOCIATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2599 ONTARIO ROAD NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20009</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>WASHINGTON INTERNATIONAL SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>3100 MACOMB STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20008</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>WPAS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2000 L STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20036</ZIPCode>
          </RecipientUSAddress>
          <PurposeOfGrantOrContribution>DONATION</PurposeOfGrantOrContribution>
          <Amount>37500</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>808880</TotGrantOrContriPaidDuringYear>
        <TotGrantOrContriApprovedFuture>0</TotGrantOrContriApprovedFuture>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <IntOnSavingsAndTempCashInvst>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>5</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>67512</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <OtherInvestmentIncomePartVII>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>4036</ExclusionAmount>
        </OtherInvestmentIncomePartVII>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>-576274</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
          <UnrelatedBusinessIncomeAmount>0</UnrelatedBusinessIncomeAmount>
          <ExclusionAmount>-504721</ExclusionAmount>
          <RelatedOrExemptFunctionIncome>0</RelatedOrExemptFunctionIncome>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>-504721</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
      <TrnsfrTrRlnWithNoncharitableEO>
        <TrnsfrOfCashToNoncharitableEO>0</TrnsfrOfCashToNoncharitableEO>
        <TrnsfrOthAssetsNoncharitableEO>0</TrnsfrOthAssetsNoncharitableEO>
        <SalesOrExchangesOfAssets>0</SalesOrExchangesOfAssets>
        <PurchaseAssetsNoncharitableEO>0</PurchaseAssetsNoncharitableEO>
        <RentalOfFacilitiesEtc>0</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>0</ReimbursementArrangements>
        <LoansOrLoanGuarantees>0</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>0</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>0</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>0</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
    </IRS990PF>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <Organization501c3ExemptPF>X</Organization501c3ExemptPF>
      <GeneralRule>X</GeneralRule>
      <ContributorInfo>
        <ContributorNumber>1</ContributorNumber>
        <ContributorNameIndividual>EMANUAL FRIEDMAN KINDY FRENCH</ContributorNameIndividual>
        <ContributorAddressUS>
          <AddressLine1>2330 CALIFORNIA STREET NW</AddressLine1>
          <City>WASHINGTON</City>
          <State>DC</State>
          <ZIPCode>20008</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>3695000</AggregateContributions>
        <PersonContributionType>X</PersonContributionType>
      </ContributorInfo>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFees>
        <Category>ACCOUNTING FEES</Category>
        <Amount>11000</Amount>
        <NetInvestmentIncome>5500</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>5500</DisbursementsCharitablePrps>
      </AccountingFees>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorpStock>
        <NameOfStock>95,000 SHARES ALLIN</NameOfStock>
        <EOYBookValue>368125</EOYBookValue>
        <EOYFMV>9500</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>3,847 SHARES BANK OF GEORGETOWN</NameOfStock>
        <EOYBookValue>50011</EOYBookValue>
        <EOYFMV>50011</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>809 SHARES FIOS SERIES C</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>1,394 SHARES FIOS SERIES D</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>336 SHARES FIOS SERIES E</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOther>
        <CategoryOrItem>FBR INFINITY II VENTURES, LP</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>273914</BookValue>
        <EOYFMV>273914</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>EJF LONG/SHORT EQUITY FUND</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>4098148</BookValue>
        <EOYFMV>4103756</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>KODIAK FUNDING, LP</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>4557338</BookValue>
        <EOYFMV>4557338</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>EJF DISTRESSED FUND, LP</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>0</BookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>EJF SIDECAR FUND, A</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>0</BookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>EJF DEBT OPPORTUNITIES OFFSHORE FUND LTD</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>1544948</BookValue>
        <EOYFMV>2375597</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>EJF SIDECAR FUND, C</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>352313</BookValue>
        <EOYFMV>117614</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>EJF GREATER CHINA FUND</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>500000</BookValue>
        <EOYFMV>564894</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>EJF INCOME FUND</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>171741</BookValue>
        <EOYFMV>181253</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>EJF SELECT OFFSHORE FUND</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>250000</BookValue>
        <EOYFMV>512612</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>EJF FINANCIAL SERVICES FUND</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>913892</BookValue>
        <EOYFMV>994011</EOYFMV>
      </InvestmentsOther>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpenses>
        <Description>BANK SERVICE CHARGES</Description>
        <RevenueAndExpensesPerBooks>571</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>571</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISCELLANEOUS FEES</Description>
        <RevenueAndExpensesPerBooks>730</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>730</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>LICENSES &amp; FEES</Description>
        <RevenueAndExpensesPerBooks>130</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>130</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PASS-THROUGH: FBR INFINITY II VENTURES, LP</Description>
        <RevenueAndExpensesPerBooks>74</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>74</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PASS-THROUGH: EJF DISTRESSED FUND, LP</Description>
        <RevenueAndExpensesPerBooks>21420</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>21420</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PASS-THROUGH: EJF SIDECAR FUND, A</Description>
        <RevenueAndExpensesPerBooks>5887</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>5887</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PASS-THROUGH: EJF SIDECAR FUND, C</Description>
        <RevenueAndExpensesPerBooks>4027</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>4027</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PASS-THROUGH: KODIAK FUNDING, LP</Description>
        <RevenueAndExpensesPerBooks>53535</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>53535</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PASS-THROUGH: EJF FINANCIAL SERVICES FUND, LP</Description>
        <RevenueAndExpensesPerBooks>2005</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>2005</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PASS-THROUGH: EJF INCOME FUND, LP</Description>
        <RevenueAndExpensesPerBooks>1157</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>1157</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncome>
        <Description>EJF SIDECAR FUND, C - OTHER INCOME</Description>
        <RevenueAndExpensesPerBooks>-61</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>-61</NetInvestmentIncome>
        <AdjustedNetIncome>-61</AdjustedNetIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>EJF DISTRESSED FUND, LP - OTHER INCOME</Description>
        <RevenueAndExpensesPerBooks>24</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>24</NetInvestmentIncome>
        <AdjustedNetIncome>24</AdjustedNetIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>EJF INCOME FUND, LP - OTHER INCOME</Description>
        <RevenueAndExpensesPerBooks>291</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>291</NetInvestmentIncome>
        <AdjustedNetIncome>291</AdjustedNetIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>KODIAK FUNDING, LP - OTHER INCOME</Description>
        <RevenueAndExpensesPerBooks>3782</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>3782</NetInvestmentIncome>
        <AdjustedNetIncome>3782</AdjustedNetIncome>
      </OtherIncome>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="RetDoc2002500001">
      <Taxes>
        <Category>FEDERAL TAXES PAID</Category>
        <Amount>8500</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <AdjustedNetIncome>0</AdjustedNetIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>