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        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
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        <AvgMonthlyCashBalances>567463</AvgMonthlyCashBalances>
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        <ReductionClaimed>0</ReductionClaimed>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
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        <CashDeemedCharitable>137576</CashDeemedCharitable>
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        <TotalTax>3355</TotalTax>
        <DistributableAmountBeforeAdj>448352</DistributableAmountBeforeAdj>
        <RecoveriesQlfyDistributions>0</RecoveriesQlfyDistributions>
        <DistributableAmountBeforeDed>448352</DistributableAmountBeforeDed>
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        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <QualifyingDistributions>444018</QualifyingDistributions>
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        <UndistributedIncomePriorYear>438918</UndistributedIncomePriorYear>
        <TotalForPriorYears>0</TotalForPriorYears>
        <TotalExcessDistriCarryover>0</TotalExcessDistriCarryover>
        <QualifyingDistributions>444018</QualifyingDistributions>
        <AppliedToYear1>438918</AppliedToYear1>
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        <TreatedAsDistriFromCorpus>0</TreatedAsDistriFromCorpus>
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        <RemainingDistriFromCorpus>0</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>0</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>0</ExcessDistriCyovAppliedCY>
        <TotalCorpus>0</TotalCorpus>
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        <PriorYearDeficiencyOrTax>0</PriorYearDeficiencyOrTax>
        <TaxableAmount1>0</TaxableAmount1>
        <TaxableAmount2>0</TaxableAmount2>
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        <ExcessDistriCyovToNextYear>0</ExcessDistriCyovToNextYear>
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        <OnlyContributesToPreselected>X</OnlyContributesToPreselected>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BATON ROUGE AREA FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
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            <State>LA</State>
            <ZIPCode>708025506</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
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        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LOUISIANA NATURE CONSERVANCY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 4125</AddressLine1>
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            <State>LA</State>
            <ZIPCode>70821</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <PurposeOfGrantOrContribution>LANDOWNER REGISTRATION</PurposeOfGrantOrContribution>
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        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LSU FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
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            <State>LA</State>
            <ZIPCode>708084600</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <PurposeOfGrantOrContribution>EDUCATION</PurposeOfGrantOrContribution>
          <Amount>380598</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>440000</TotGrantOrContriPaidDuringYear>
        <TotGrantOrContriApprovedFuture>0</TotGrantOrContriApprovedFuture>
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      <AnalysisIncomeProducingActy>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
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        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
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        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
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          <RelatedOrExemptFunctionIncome>0</RelatedOrExemptFunctionIncome>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>406139</TotalPartXVIA>
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        <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>
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      <AccountingFees>
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        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>1776</DisbursementsCharitablePrps>
      </AccountingFees>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorpBonds>
        <NameOfBond>SEE ATTACHED SCHEDULE</NameOfBond>
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        <EOYFMV>2843510</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorpStock>
        <NameOfStock>SEE ATTACHED SCHEDULE, ITEM 1</NameOfStock>
        <EOYBookValue>5063250</EOYBookValue>
        <EOYFMV>5962991</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFees>
        <Category>KEAN MILLER</Category>
        <Amount>328</Amount>
        <NetInvestmentIncome>328</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </LegalFees>
      <LegalFees>
        <Category>PHELPS DUNBAR</Category>
        <Amount>5225</Amount>
        <NetInvestmentIncome>5225</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </LegalFees>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssets>
        <Description>MINERALS</Description>
        <BOYBookValue>1333</BOYBookValue>
        <EOYBookValue>1333</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </OtherAssets>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpenses>
        <Description>INSURANCE</Description>
        <RevenueAndExpensesPerBooks>2593</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>2593</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFees>
        <Category>JP MORGAN FEES</Category>
        <Amount>32593</Amount>
        <NetInvestmentIncome>32593</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherProfessionalFees>
      <OtherProfessionalFees>
        <Category>UBS FINANCIAL</Category>
        <Amount>27290</Amount>
        <NetInvestmentIncome>27290</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherProfessionalFees>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <Taxes>
        <Category>TAX ON INVESTMENT INCOME</Category>
        <Amount>14613</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
      <Taxes>
        <Category>FOREIGN TAXES PAID</Category>
        <Amount>2574</Amount>
        <NetInvestmentIncome>2574</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>