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          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <CompOfHighestPaidEmplNONE>NONE</CompOfHighestPaidEmplNONE>
        <TotNumberOfOthEmplPaidOver50k>0</TotNumberOfOthEmplPaidOver50k>
        <CompensationOfHghstPaidCntrct>
          <BusinessName>
            <BusinessNameLine1>EUBANKS SMITH LLC</BusinessNameLine1>
          </BusinessName>
          <USAddress>
            <AddressLine1>529 1/2 NORTH LA CIENEGA BOULEVARD</AddressLine1>
            <City>WEST HOLLYWOOD</City>
            <State>CA</State>
            <ZIPCode>90048</ZIPCode>
          </USAddress>
          <TypeOfService>ART ADVISORY SERVICES</TypeOfService>
          <Compensation>3500000</Compensation>
        </CompensationOfHghstPaidCntrct>
        <CompensationOfHghstPaidCntrct>
          <BusinessName>
            <BusinessNameLine1>LOEB &amp; LOEB LLP</BusinessNameLine1>
          </BusinessName>
          <USAddress>
            <AddressLine1>10100 SANTA MONICA BOULEVARD SUITE</AddressLine1>
            <AddressLine2>2200</AddressLine2>
            <City>LOS ANGELES</City>
            <State>CA</State>
            <ZIPCode>90067</ZIPCode>
          </USAddress>
          <TypeOfService>LEGAL FEES</TypeOfService>
          <Compensation>79872</Compensation>
        </CompensationOfHghstPaidCntrct>
        <TotNumberOfCntrctPaidOver50k>0</TotNumberOfCntrctPaidOver50k>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SummaryOfDirectCharitableActy>
        <Description1>NONE</Description1>
        <Expenses1>0</Expenses1>
      </SummaryOfDirectCharitableActy>
      <SumOfProgramRelatedInvestments>
        <Description1>NONE</Description1>
        <Amount1>0</Amount1>
        <Total>0</Total>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>3452380</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>59559620</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>1917746</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>64929746</TotalFMVOfUnusedAssets>
        <ReductionClaimed>0</ReductionClaimed>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>64929746</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>973946</CashDeemedCharitable>
        <NetNoncharitableAssets>63955800</NetNoncharitableAssets>
        <MinimumInvestmentReturn>3197790</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>3197790</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>678741</TaxBasedOnInvestmentIncome>
        <TotalTax>678741</TotalTax>
        <DistributableAmountBeforeAdj>2519049</DistributableAmountBeforeAdj>
        <RecoveriesQlfyDistributions>0</RecoveriesQlfyDistributions>
        <DistributableAmountBeforeDed>2519049</DistributableAmountBeforeDed>
        <DeductionFrDistributableAmount>0</DeductionFrDistributableAmount>
        <DistributableAmountAsAdjusted>2519049</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>3213000</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <QualifyingDistributions>3213000</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>678741</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>2534259</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>2519049</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>927397</UndistributedIncomePriorYear>
        <TotalForPriorYears>0</TotalForPriorYears>
        <TotalExcessDistriCarryover>0</TotalExcessDistriCarryover>
        <QualifyingDistributions>3213000</QualifyingDistributions>
        <AppliedToYear1>927397</AppliedToYear1>
        <AppliedToPriorYears>0</AppliedToPriorYears>
        <TreatedAsDistriFromCorpus>0</TreatedAsDistriFromCorpus>
        <AppliedToCurrentYear>2285603</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>0</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>0</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>0</ExcessDistriCyovAppliedCY>
        <TotalCorpus>0</TotalCorpus>
        <PriorYearUndistributedIncome>0</PriorYearUndistributedIncome>
        <PriorYearDeficiencyOrTax>0</PriorYearDeficiencyOrTax>
        <TaxableAmount1>0</TaxableAmount1>
        <TaxableAmount2>0</TaxableAmount2>
        <UndistributedIncomeCY>233446</UndistributedIncomeCY>
        <DistriFromCorpus170b1EOr4942g3>0</DistriFromCorpus170b1EOr4942g3>
        <ExcessDistriCyovFromYear5>0</ExcessDistriCyovFromYear5>
        <ExcessDistriCyovToNextYear>0</ExcessDistriCyovToNextYear>
      </UndistributedIncome>
      <SupplementaryInformation>
        <ContributingManager>MERCEDES H EICHHOLZ</ContributingManager>
        <OnlyContributesToPreselected>X</OnlyContributesToPreselected>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ART FROM SCRAP</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>302 E COTA STREET</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93101</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ART WITHOUT LIMITS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>816 CHELHAM WAY</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93108</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>2500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ARTS OUTREACH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2353 HOLLISTER SUITE A</AddressLine1>
            <City>LOS OLIVOS</City>
            <State>CA</State>
            <ZIPCode>93441</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ASHEVILLE ART MUSEUM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2 SOUTH PACK SQUARE PO BOX 1717</AddressLine1>
            <City>ASHEVILLE</City>
            <State>NC</State>
            <ZIPCode>28802</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ASHEVILLE ART SYMPHONY SOCIETY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 2852</AddressLine1>
            <City>ASHEVILLE</City>
            <State>NC</State>
            <ZIPCode>28802</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ASHEVILLE COMMUNITY THEATER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>35 E WALNUT</AddressLine1>
            <City>ASHEVILLE</City>
            <State>NC</State>
            <ZIPCode>28801</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ASPEN MUSIC FESTIVAL &amp; SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>225 MUSIC SCHOOL ROAD</AddressLine1>
            <City>ASPEN</City>
            <State>CO</State>
            <ZIPCode>81611</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BAY LAUREL ELEMENTARY SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>24740 PASEO PRIMARIO</AddressLine1>
            <City>CALABASAS</City>
            <State>CA</State>
            <ZIPCode>91302</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>509(A)(1) PUBLIC CHA</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>35000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BROOKLYN ACADEMY OF ART</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>30 LAFAYETTE AVE</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11217</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CAMERATA PACIFICA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 30116</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93130</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CENTRAL PARK SCHOOL FOR CHILDREN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>724 FOSTER STREET</AddressLine1>
            <City>DURHAM</City>
            <State>NC</State>
            <ZIPCode>27701</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>509(A)(1) PUBLIC CHA</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GUEST ARTIST PROGRAM</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CONDUIT DANCE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>918 SW YAMHILL SUITE 401</AddressLine1>
            <City>PORTLAND</City>
            <State>OR</State>
            <ZIPCode>97205</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) NONPROFIT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CORCORAN GALLERY OF ART &amp; DESIGN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>500 17TH STREE</AddressLine1>
            <City>NW WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20006</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) NONPROFIT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DANCEWAVE INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>45 FOURTH AVENUE</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11217</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DISJECTA CONTEMPORARY ARTS CENTER OF PORTLAND</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>8731 N INTERSTATE AVENUE</AddressLine1>
            <City>PORTLAND</City>
            <State>OR</State>
            <ZIPCode>972176716</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) NONPROFIT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ELVERHOJ MUSEUM OF HISTORY &amp; ART</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1624 ELVERHOY WAY</AddressLine1>
            <City>SOLVANG</City>
            <State>CA</State>
            <ZIPCode>93464</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>EXHIBITIONS</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ENSEMBLE THEATER COMPANY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>914 SANTA BARBARA STREET</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93101</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FAIRFIELD UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1073 N BENSON ROAD</AddressLine1>
            <City>FAIRFIELD</City>
            <State>CT</State>
            <ZIPCode>068245195</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FEAR NO MUSIC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 1262</AddressLine1>
            <City>PORTLAND</City>
            <State>OR</State>
            <ZIPCode>97207</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>KDB FUND FOR ARTS PROGRAMMING</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1111 CHAPALA STREET SUITE 200</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93101</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LILY SARAH GRACE FUND</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>180 VARICK STREET SUITE 1206</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10014</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LIVE WIRE RADIO</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>3606 MISSISSIPPI</AddressLine1>
            <City>PORTLAND</City>
            <State>OR</State>
            <ZIPCode>97227</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LOS ANGELES MUSIC &amp; ART SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>3630 E 3RD STREET</AddressLine1>
            <City>LOS ANGELES</City>
            <State>CA</State>
            <ZIPCode>90063</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DG MULTIMEDIA INC (BLANK ON BLANK)</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>88 WYCKOFF STREET SUITE 3H</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11201</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>ANIMATED SHORTS</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MUSEUM OF MODERN ART</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>11 WEST 53 STREET</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10019</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MUSIC ACADEMY OF THE WEST</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1070 FAIRWAY RD</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93108</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>60000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NATIONAL GALLERY OF ART</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>6TH STREET CONSTITUION AVENUE</AddressLine1>
            <City>NW WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20565</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>ROY LICHTENSTEIN: A RETROSPECTIVE</PurposeOfGrantOrContribution>
          <Amount>500000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>OJAI MUSIC FESTIVAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>201 SOUTH SIGNAL STREET</AddressLine1>
            <City>OJAI</City>
            <State>CA</State>
            <ZIPCode>93023</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>OPERA AMERICA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>330 SEVENTH AVENUE</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10001</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>OPERA SANTA BARBARA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1330 STATE STREET SUITE 209</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93101</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>THE PHILLIPS COLLECTION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1600 21ST STREET</AddressLine1>
            <City>NW WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20009</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PRIVATE FOUNDATION</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>PORTLAND ART MUSEUM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1219 SW PARK AVENUE</AddressLine1>
            <City>PORTLAND</City>
            <State>OR</State>
            <ZIPCode>97205</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>500000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SAINT ANN'S SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>129 PIERREPONT STREET</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11201</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SANTA BARBARA COUNTRY ARTS COMMISSION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1100 ANACAPA STREET 3RD FLOOR</AddressLine1>
            <AddressLine2>ROTUNDA TOWER</AddressLine2>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93101</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>30000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SANTA BARBARA MUSEUM OF ART</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1130 STATE STREET</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93101</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>PHOTOGRAPHY DEPARTMENT &amp; ENDOWMENT</PurposeOfGrantOrContribution>
          <Amount>1720000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SANTA BARBARA SYMPHONY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1330 STATE STREET SUITE 102</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93101</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING EXPENSES &amp; ENDOWMENT</PurposeOfGrantOrContribution>
          <Amount>45000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SCHOLARSHIP FOUNDATION OF SANTA BARBARA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 3620</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93130</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SEATTLE REPERTORY THEATER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>155 MERCER STREET</AddressLine1>
            <City>SEATTLE</City>
            <State>WA</State>
            <ZIPCode>98109</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>30000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SOLVANG FESTIVAL THEATER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 917</AddressLine1>
            <City>SOLVANG</City>
            <State>CA</State>
            <ZIPCode>93464</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>LOBBY LIGHTING FUND</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SOLVANG BRANCH LIBRARY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1745 MISSION DRIVE</AddressLine1>
            <City>SOLVANG</City>
            <State>CA</State>
            <ZIPCode>93463</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>2500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>THE ARTS FUND SANTA BARBRA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>205C SANTA BARBARA STREET</AddressLine1>
            <City>SANTA BARBARA</City>
            <State>CA</State>
            <ZIPCode>93101</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS FOUNDATION INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1533 SOUTH MAIN STREET</AddressLine1>
            <City>WINSTONSALEM</City>
            <State>NC</State>
            <ZIPCode>27127</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>WILDING ART MUSEUM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1511-B MISSION DRIVE</AddressLine1>
            <City>SOLVANG</City>
            <State>CA</State>
            <ZIPCode>93463</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>YOUNG PEOPLE'S CHORUS OF NEW YORK CITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1995 BROADWAY SUITE 305</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10023</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>501(C)(3) TAX-EXEMPT</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>UNRESTRICTED</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>3210000</TotGrantOrContriPaidDuringYear>
        <TotGrantOrContriApprovedFuture>0</TotGrantOrContriApprovedFuture>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>898101</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>-3224442</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
          <UnrelatedBusinessIncomeAmount>0</UnrelatedBusinessIncomeAmount>
          <ExclusionAmount>-2326341</ExclusionAmount>
          <RelatedOrExemptFunctionIncome>0</RelatedOrExemptFunctionIncome>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>-2326341</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>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFees>
        <Category>ACCOUNTING FEES</Category>
        <Amount>5880</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </AccountingFees>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="RetDoc2203000001">
      <Depreciation>
        <DescriptionOfProperty>MACBOOK AIR COMPUTER</DescriptionOfProperty>
        <DateAcquired>2012-04-24</DateAcquired>
        <CostOrOtherBasis>1299</CostOrOtherBasis>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>260</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>SCANNER</DescriptionOfProperty>
        <DateAcquired>2012-10-26</DateAcquired>
        <CostOrOtherBasis>420</CostOrOtherBasis>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>84</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
    </DepreciationSchedule>
    <GeneralExplanationAttachment documentId="RetDoc2258700001">
      <GeneralExplanation>
        <ReturnReference>FORM 990-PF, PART VIII, LINE 3:</ReturnReference>
        <Explanation>THE ALLOCATION OF LEGAL FEES PAID DURING 2012 TO LOEB &amp; LOEB IS AS FOLLOWS:SALES EXPENSE IN CONNECTION WITH SALE OF OIL PAINTING: $55,000INVESTMENT EXPENSE FOR VETTING INVESTMENT ADVISORS: $19,000SETTING UP ORGANIZATION/GENERAL LEGAL COUNSEL: $5,872TOTAL LEGAL FEES: $79,872</Explanation>
      </GeneralExplanation>
    </GeneralExplanationAttachment>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorpBonds>
        <NameOfBond>BROWN BROTHERS HARRIMAN - CORPORATE BONDS</NameOfBond>
        <EOYBookValue>1199365</EOYBookValue>
        <EOYFMV>1201299</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>CANTERBURY CONSULTING - FIXED INCOME</NameOfBond>
        <EOYBookValue>6330459</EOYBookValue>
        <EOYFMV>6444982</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorpStock>
        <NameOfStock>BROWN BROTHERS HARRIMAN - CORPORATE STOCK &amp; EQUITY</NameOfStock>
        <EOYBookValue>9909677</EOYBookValue>
        <EOYFMV>10759240</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>NORTHERN TRUST - EQUITY SECURITIES</NameOfStock>
        <EOYBookValue>8899373</EOYBookValue>
        <EOYFMV>9580828</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>CANTERBURY CONSULTING - DOMESTIC EQUITY</NameOfStock>
        <EOYBookValue>6921068</EOYBookValue>
        <EOYFMV>7248540</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>CANTERBURY CONSULTING - INTERNATIONAL EQUITY</NameOfStock>
        <EOYBookValue>3811180</EOYBookValue>
        <EOYFMV>4143801</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOther>
        <CategoryOrItem>BROWN BROTHERS HARRIMAN - MUTUAL FUNDS</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>9825546</BookValue>
        <EOYFMV>9907530</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>NORTHERN TRUST - FIXED INCOME SECURITIES</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>3222097</BookValue>
        <EOYFMV>3294005</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>NORTHERN TRUST - REAL ESTATE</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>600000</BookValue>
        <EOYFMV>620241</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>NORTHERN TRUST - COMMODITIES</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>1529548</BookValue>
        <EOYFMV>1616117</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>NORTHERN TRUST - OTHER ASSETS</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>6600000</BookValue>
        <EOYFMV>6709178</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>CANTERBURY CONSULTING - HEDGE FUND</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>3540000</BookValue>
        <EOYFMV>3740461</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>CANTERBURY CONSULTING - REAL ASSETS</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>474514</BookValue>
        <EOYFMV>491301</EOYFMV>
      </InvestmentsOther>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="RetDoc2059000001">
      <LandEtc>
        <CategoryOrItem>MACBOOK AIR COMPUTER</CategoryOrItem>
        <CostOrOtherBasis>1299</CostOrOtherBasis>
        <AccumulatedDepreciation>260</AccumulatedDepreciation>
        <BookValue>1039</BookValue>
      </LandEtc>
      <LandEtc>
        <CategoryOrItem>SCANNER</CategoryOrItem>
        <CostOrOtherBasis>420</CostOrOtherBasis>
        <AccumulatedDepreciation>84</AccumulatedDepreciation>
        <BookValue>336</BookValue>
      </LandEtc>
    </LandEtcSchedule2>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFees>
        <Category>LEGAL FEES</Category>
        <Amount>24872</Amount>
        <NetInvestmentIncome>19000</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </LegalFees>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssets>
        <Description>GEORGE BRAQUE OIL PAINTING</Description>
        <BOYBookValue>71000000</BOYBookValue>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </OtherAssets>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpenses>
        <Description>LIABILITY INSURANCE</Description>
        <RevenueAndExpensesPerBooks>29841</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>29841</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>DUES &amp; MEMBERSHIPS</Description>
        <RevenueAndExpensesPerBooks>3079</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>3000</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INVESTMENT FEES</Description>
        <RevenueAndExpensesPerBooks>147416</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>147416</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>LICENSE AND OTHER FEES</Description>
        <RevenueAndExpensesPerBooks>310</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>OUTSIDE CONTRACT SERVICES</Description>
        <RevenueAndExpensesPerBooks>3273</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>3273</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>RENT, PARKING, UTILITIES</Description>
        <RevenueAndExpensesPerBooks>199</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>BANK SERVICE CHARGES</Description>
        <RevenueAndExpensesPerBooks>180</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>POSTAGE &amp; MAILING SERVICE</Description>
        <RevenueAndExpensesPerBooks>56</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PRINTING &amp; COPYING</Description>
        <RevenueAndExpensesPerBooks>780</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>SUPPLIES</Description>
        <RevenueAndExpensesPerBooks>1569</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>TELEPHONE</Description>
        <RevenueAndExpensesPerBooks>797</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>WEBSITE EXPENSE</Description>
        <RevenueAndExpensesPerBooks>144</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>SERVICE FEES</Description>
        <RevenueAndExpensesPerBooks>100</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISCELLANEOUS EXPENSE</Description>
        <RevenueAndExpensesPerBooks>69</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>REIMBURSED EXPENSES</Description>
        <RevenueAndExpensesPerBooks>-15000</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherLiabilitiesSchedule documentId="RetDoc2065700001">
      <OtherLiabilities>
        <Description>DEPOSIT ON SALE OF GEORGES BRAQUE OIL PAINTING</Description>
        <BOYBookValue>24000000</BOYBookValue>
        <EOYBookValue>0</EOYBookValue>
      </OtherLiabilities>
    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <Taxes>
        <Category>PAYROLL TAXES</Category>
        <Amount>3165</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
      <Taxes>
        <Category>FEDERAL TAX ESTIMATES</Category>
        <Amount>800000</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>