﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2011v1.2">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2012-07-09T13:52:50-05:00</Timestamp>
    <TaxPeriodEndDate>2011-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>DEMAKIS &amp; DEMAKIS CPA'S</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>56 CENTRAL AVENUE SUITE 207</AddressLine1>
        <City>LYNN</City>
        <State>MA</State>
        <ZIPCode>019011140</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990PF</ReturnType>
    <TaxPeriodBeginDate>2011-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>046130871</EIN>
      <Name>
        <BusinessNameLine1>GERONDELIS FOUNDATION INC</BusinessNameLine1>
      </Name>
      <NameControl>GERO</NameControl>
      <Phone>7815953311</Phone>
      <USAddress>
        <AddressLine1>56 CENTRAL AVENUE</AddressLine1>
        <AddressLine2>ROOM/SUITE 201</AddressLine2>
        <City>LYNN</City>
        <State>MA</State>
        <ZIPCode>01901</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>GREGORY C DEMAKIS</Name>
      <Title>PRESIDENT</Title>
      <Phone>7815953311</Phone>
      <DateSigned>2012-06-07</DateSigned>
    </Officer>
    <Preparer>
      <Name>TIMOTHY S DEMAKIS CPA</Name>
      <Phone>7815926120</Phone>
      <DatePrepared>2012-06-19</DatePrepared>
    </Preparer>
    <TaxYear>2011</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="13">
    <IRS990PF documentId="RetDoc1">
      <ExemptPF>X</ExemptPF>
      <FMVAssetsEOY>8675774</FMVAssetsEOY>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AnalysisOfRevenueAndExpenses>
        <NotRequiredToAttachScheduleB>X</NotRequiredToAttachScheduleB>
        <InterestOnSavingsRevAndExpnss>26</InterestOnSavingsRevAndExpnss>
        <InterestOnSavingsNetInvstIncm>26</InterestOnSavingsNetInvstIncm>
        <InterestOnSavingsAdjNetIncm>26</InterestOnSavingsAdjNetIncm>
        <DividendsRevAndExpnss>26600</DividendsRevAndExpnss>
        <DividendsNetInvstIncm>26600</DividendsNetInvstIncm>
        <DividendsAdjNetIncm>26600</DividendsAdjNetIncm>
        <GrossRentsRevAndExpnss>610183</GrossRentsRevAndExpnss>
        <GrossRentsNetInvstIncm>610183</GrossRentsNetInvstIncm>
        <GrossRentsAdjNetIncm>610183</GrossRentsAdjNetIncm>
        <NetRentalIncomeOrLoss>610183</NetRentalIncomeOrLoss>
        <NetGainSaleAssetsRevAndExpnss referenceDocumentId="RetDoc4">9712</NetGainSaleAssetsRevAndExpnss>
        <GrossSalesPrice>25901</GrossSalesPrice>
        <OtherIncomeRevAndExpnss referenceDocumentId="RetDoc10">10402</OtherIncomeRevAndExpnss>
        <OtherIncomeAdjNetIncm>10402</OtherIncomeAdjNetIncm>
        <TotalRevenueAndExpenses>656923</TotalRevenueAndExpenses>
        <TotalNetInvestmentIncome>636809</TotalNetInvestmentIncome>
        <TotalAdjustedNetIncome>647211</TotalAdjustedNetIncome>
        <CompOfcrDirTrstRevAndExpnss>20500</CompOfcrDirTrstRevAndExpnss>
        <AccountingFeesRevAndExpnss referenceDocumentId="RetDoc2">10000</AccountingFeesRevAndExpnss>
        <AccountingFeesDsbrsChrtblPrps>10000</AccountingFeesDsbrsChrtblPrps>
        <OtherProfFeesRevAndExpnss referenceDocumentId="RetDoc12">50000</OtherProfFeesRevAndExpnss>
        <OtherProfFeesDsbrsChrtblPrps>50000</OtherProfFeesDsbrsChrtblPrps>
        <TaxesRevAndExpnss referenceDocumentId="RetDoc13">269</TaxesRevAndExpnss>
        <TaxesDsbrsChrtblPrps>269</TaxesDsbrsChrtblPrps>
        <OtherExpensesRevAndExpnss referenceDocumentId="RetDoc9">10270</OtherExpensesRevAndExpnss>
        <OtherExpensesDsbrsChrtblPrps>10270</OtherExpensesDsbrsChrtblPrps>
        <TotOprExpensesRevAndExpnss>91039</TotOprExpensesRevAndExpnss>
        <TotOprExpensesNetInvstIncm>0</TotOprExpensesNetInvstIncm>
        <TotOprExpensesDsbrsChrtblPrps>70539</TotOprExpensesDsbrsChrtblPrps>
        <ContriGiftsPaidRevAndExpnss>489600</ContriGiftsPaidRevAndExpnss>
        <ContriGiftsPaidDsbrsChrtblPrps>489600</ContriGiftsPaidDsbrsChrtblPrps>
        <TotalExpensesRevAndExpnss>580639</TotalExpensesRevAndExpnss>
        <TotalExpensesNetInvstIncm>0</TotalExpensesNetInvstIncm>
        <TotalExpensesDsbrsChrtblPrps>560139</TotalExpensesDsbrsChrtblPrps>
        <ExcessOfRevenueOverExpenses>76284</ExcessOfRevenueOverExpenses>
        <NetInvestmentIncome>636809</NetInvestmentIncome>
        <AdjustedNetIncome>647211</AdjustedNetIncome>
      </AnalysisOfRevenueAndExpenses>
      <BalanceSheets>
        <SavingsAndTempCashInvstBOY>288024</SavingsAndTempCashInvstBOY>
        <SavingsAndTempCashInvstEOY>310596</SavingsAndTempCashInvstEOY>
        <SavingsAndTempCashInvstEOYFMV>310596</SavingsAndTempCashInvstEOYFMV>
        <PrepaidExpensesBOY>3668</PrepaidExpensesBOY>
        <PrepaidExpensesEOY>13132</PrepaidExpensesEOY>
        <PrepaidExpensesEOYFMV>13132</PrepaidExpensesEOYFMV>
        <InvestmentsGovtObligBOY>30104</InvestmentsGovtObligBOY>
        <InvestmentsGovtObligEOY>21311</InvestmentsGovtObligEOY>
        <InvestmentsGovtObligEOYFMV>21311</InvestmentsGovtObligEOYFMV>
        <InvestmentsCorpStockBOY>500147</InvestmentsCorpStockBOY>
        <InvestmentsCorpStockEOY referenceDocumentId="RetDoc6">401216</InvestmentsCorpStockEOY>
        <InvestmentsCorpStockEOYFMV>401216</InvestmentsCorpStockEOYFMV>
        <InvestmentsCorpBondsBOY>351207</InvestmentsCorpBondsBOY>
        <InvestmentsCorpBondsEOY referenceDocumentId="RetDoc5">469519</InvestmentsCorpBondsEOY>
        <InvestmentsCorpBondsEOYFMV>469519</InvestmentsCorpBondsEOYFMV>
        <InvestmentsLandEtcBasis>3910000</InvestmentsLandEtcBasis>
        <InvestmentsLandEtcBOY>3910000</InvestmentsLandEtcBOY>
        <InvestmentsLandEtcEOY referenceDocumentId="RetDoc7">3910000</InvestmentsLandEtcEOY>
        <InvestmentsLandEtcEOYFMV>7460000</InvestmentsLandEtcEOYFMV>
        <TotalAssetsBOY>5083150</TotalAssetsBOY>
        <TotalAssetsEOY>5125774</TotalAssetsEOY>
        <TotalAssetsEOYFMV>8675774</TotalAssetsEOYFMV>
        <AccountsPayableBOY>10000</AccountsPayableBOY>
        <AccountsPayableEOY>10000</AccountsPayableEOY>
        <GrantsPayableBOY>227000</GrantsPayableBOY>
        <GrantsPayableEOY>205500</GrantsPayableEOY>
        <OtherLiabilitiesBOY referenceDocumentId="RetDoc11">1308</OtherLiabilitiesBOY>
        <OtherLiabilitiesEOY referenceDocumentId="RetDoc11">596</OtherLiabilitiesEOY>
        <TotalLiabilitiesBOY>238308</TotalLiabilitiesBOY>
        <TotalLiabilitiesEOY>216096</TotalLiabilitiesEOY>
        <OrgThatFollowSFAS117>X</OrgThatFollowSFAS117>
        <UnrestrictedBOY>4844842</UnrestrictedBOY>
        <UnrestrictedEOY>4909678</UnrestrictedEOY>
        <TotalNetAssetsBOY>4844842</TotalNetAssetsBOY>
        <TotalNetAssetsEOY>4909678</TotalNetAssetsEOY>
        <TotalLiabilitiesNetAssetsBOY>5083150</TotalLiabilitiesNetAssetsBOY>
        <TotalLiabilitiesNetAssetsEOY>5125774</TotalLiabilitiesNetAssetsEOY>
      </BalanceSheets>
      <ChangesInNetAssetsFundBalances>
        <TotalNetAssetsFundBalancesBOY>4844842</TotalNetAssetsFundBalancesBOY>
        <ExcessOfRevenueOverExpenses>76284</ExcessOfRevenueOverExpenses>
        <Subtotal>4921126</Subtotal>
        <OtherDecreases referenceDocumentId="RetDoc8">11448</OtherDecreases>
        <TotalNetAssetsFundBalancesEOY>4909678</TotalNetAssetsFundBalancesEOY>
      </ChangesInNetAssetsFundBalances>
      <QlfyUndSect4940eForReducedTax>
        <LiableFor4942Tax>false</LiableFor4942Tax>
        <QualifyingDistributionsYear1>537645</QualifyingDistributionsYear1>
        <NoncharitableAssetsYear1>8175210</NoncharitableAssetsYear1>
        <DistributionRatioYear1>0.065765</DistributionRatioYear1>
        <QualifyingDistributionsYear2>571907</QualifyingDistributionsYear2>
        <NoncharitableAssetsYear2>8205506</NoncharitableAssetsYear2>
        <DistributionRatioYear2>0.069698</DistributionRatioYear2>
        <QualifyingDistributionsYear3>504272</QualifyingDistributionsYear3>
        <NoncharitableAssetsYear3>8416034</NoncharitableAssetsYear3>
        <DistributionRatioYear3>0.059918</DistributionRatioYear3>
        <QualifyingDistributionsYear4>551047</QualifyingDistributionsYear4>
        <NoncharitableAssetsYear4>8163319</NoncharitableAssetsYear4>
        <DistributionRatioYear4>0.067503</DistributionRatioYear4>
        <QualifyingDistributionsYear5>428619</QualifyingDistributionsYear5>
        <NoncharitableAssetsYear5>8434956</NoncharitableAssetsYear5>
        <DistributionRatioYear5>0.050815</DistributionRatioYear5>
        <TotalDistributionRatio>0.313699</TotalDistributionRatio>
        <AverageDistributionRatio>0.062740</AverageDistributionRatio>
        <NetNoncharitableAssets>8223057</NetNoncharitableAssets>
        <AdjustedNoncharitableAssets>515915</AdjustedNoncharitableAssets>
        <OnePercentNetInvestmentIncome>6368</OnePercentNetInvestmentIncome>
        <AdjNonchrtblAssetsAndOnePct>522283</AdjNonchrtblAssetsAndOnePct>
        <QualifyingDistributions>560139</QualifyingDistributions>
      </QlfyUndSect4940eForReducedTax>
      <ExciseTaxBasedOnInvestmentIncm>
        <DomesticOrgMeetingSect4940e>X</DomesticOrgMeetingSect4940e>
        <InvestmentIncomeExciseTax>6368</InvestmentIncomeExciseTax>
        <Subtotal>6368</Subtotal>
        <TaxBasedOnInvestmentIncome>6368</TaxBasedOnInvestmentIncome>
        <EstTaxPaymentsAndOverpayment>7000</EstTaxPaymentsAndOverpayment>
        <TotalCreditsAndPayments>7000</TotalCreditsAndPayments>
        <Overpayment>632</Overpayment>
        <AmountCreditedToNextYear>632</AmountCreditedToNextYear>
      </ExciseTaxBasedOnInvestmentIncm>
      <StatementsRegardingActivities>
        <LegislativePoliticalActivities>false</LegislativePoliticalActivities>
        <MoreThan100Spent>false</MoreThan100Spent>
        <Form1120POLFiled>false</Form1120POLFiled>
        <ActivitiesNotPrevReported>false</ActivitiesNotPrevReported>
        <ChangesToArticlesOrBylaws>false</ChangesToArticlesOrBylaws>
        <UnrelatedBusIncomeOver1000>false</UnrelatedBusIncomeOver1000>
        <TerminationEtc>false</TerminationEtc>
        <RequirementsOfSect508e>true</RequirementsOfSect508e>
        <AtLeast5000InAssets>true</AtLeast5000InAssets>
        <StatesFiledWith>MA</StatesFiledWith>
        <Form990PFFiledWithAG>true</Form990PFFiledWithAG>
        <PrivateOperatingFoundation>false</PrivateOperatingFoundation>
        <NewSubstantialContributors>false</NewSubstantialContributors>
        <InterestInControlledEntity>false</InterestInControlledEntity>
        <ApplicableInsuranceContract>false</ApplicableInsuranceContract>
        <ComplyWithPublicInspectionRqr>true</ComplyWithPublicInspectionRqr>
        <WebsiteAddress>N/A</WebsiteAddress>
        <BooksInCareOfPersonName>GREGORY C DEMAKIS</BooksInCareOfPersonName>
        <BooksInCareOfPhoneNumber>7815953311</BooksInCareOfPhoneNumber>
        <BooksInCareOfUSAddress>
          <AddressLine1>56 CENTRAL AVENUE</AddressLine1>
          <AddressLine2>SUITE 201</AddressLine2>
          <City>LYNN</City>
          <State>MA</State>
          <ZIPCode>01901</ZIPCode>
        </BooksInCareOfUSAddress>
      </StatementsRegardingActivities>
      <StatementsRegardingActy4720>
        <SaleOrExchangeWithDsqflyPerson>false</SaleOrExchangeWithDsqflyPerson>
        <BorrowOrLendWithDsqflyPerson>false</BorrowOrLendWithDsqflyPerson>
        <FurnishedGoodsWithDsqflyPerson>false</FurnishedGoodsWithDsqflyPerson>
        <PayCompensationToDsqflyPerson>false</PayCompensationToDsqflyPerson>
        <TransferAssetsToDsqflyPerson>false</TransferAssetsToDsqflyPerson>
        <PaymentToGovernmentOffical>false</PaymentToGovernmentOffical>
        <UndistributedIncomePriorYears>false</UndistributedIncomePriorYears>
        <BusinessHoldings>false</BusinessHoldings>
        <JeopardyInvestments>false</JeopardyInvestments>
        <UncorrectedJeopardyInvestments>false</UncorrectedJeopardyInvestments>
        <InfluenceLegislation>false</InfluenceLegislation>
        <InfluenceElection>false</InfluenceElection>
        <GrantsToIndividuals>false</GrantsToIndividuals>
        <GrantsToOrganizations>false</GrantsToOrganizations>
        <NoncharitablePurpose>false</NoncharitablePurpose>
        <RcvFundsToPayPrsnlBnftContract>false</RcvFundsToPayPrsnlBnftContract>
        <PayPremiumsPrsnlBnftContract>false</PayPremiumsPrsnlBnftContract>
      </StatementsRegardingActy4720>
      <OfcrDirTrusteesKeyEmployeeInfo>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">THOMAS C DEMAKIS ESQ</PersonName>
          <USAddress>
            <AddressLine1>186 PERKINS ROW</AddressLine1>
            <City>TOPSFIELD</City>
            <State>MA</State>
            <ZIPCode>01983</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>2000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">GREGORY C DEMAKIS ESQ</PersonName>
          <USAddress>
            <AddressLine1>180 WEST SHORE DRIVE</AddressLine1>
            <City>MARBLEHEAD</City>
            <State>MA</State>
            <ZIPCode>01945</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>2000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">PAUL C DEMAKIS ESQ</PersonName>
          <USAddress>
            <AddressLine1>46 COMMONWEALTH AVENUE</AddressLine1>
            <City>BOSTON</City>
            <State>MA</State>
            <ZIPCode>02116</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>2000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">GEORGE MARCOPOULOS</PersonName>
          <USAddress>
            <AddressLine1>EAST HALLDEPT OF HISTORY</AddressLine1>
            <City>MEDFORD</City>
            <State>MA</State>
            <ZIPCode>02155</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">DR NICHOLAS T ZERVAS</PersonName>
          <USAddress>
            <AddressLine1>MASS GENERAL HOSPITAL</AddressLine1>
            <City>BOSTON</City>
            <State>MA</State>
            <ZIPCode>02114</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>1000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">THOMAS L DEMAKIS</PersonName>
          <USAddress>
            <AddressLine1>45 BLODGETT AVENUE</AddressLine1>
            <City>SWAMPSCOTT</City>
            <State>MA</State>
            <ZIPCode>01907</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>2000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">CHRISTOPHER SCANGAS</PersonName>
          <USAddress>
            <AddressLine1>8214 SANTALUZ VILLAGE GREEN SOUTH</AddressLine1>
            <City>SAN DIEGO</City>
            <State>CA</State>
            <ZIPCode>92127</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>2000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">RUSSELL SMITH</PersonName>
          <USAddress>
            <AddressLine1>47 RIVER ROAD</AddressLine1>
            <City>GLOUCESTER</City>
            <State>MA</State>
            <ZIPCode>01930</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>2000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">JOHN N DEMAKIS</PersonName>
          <USAddress>
            <AddressLine1>1 LEO ROAD</AddressLine1>
            <City>MARBLEHEAD</City>
            <State>MA</State>
            <ZIPCode>01945</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>2000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">T PHILLIP COMENOS</PersonName>
          <USAddress>
            <AddressLine1>1 DEXTER LANE</AddressLine1>
            <City>MANCHESTER</City>
            <State>MA</State>
            <ZIPCode>01944</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>2000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">NONDAS LAGONAKIS</PersonName>
          <USAddress>
            <AddressLine1>30 FAIRVIEW AVENUE</AddressLine1>
            <City>SALEM</City>
            <State>MA</State>
            <ZIPCode>01970</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>1500</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc3">ATHAS KOURKOUSIS</PersonName>
          <USAddress>
            <AddressLine1>101 LITTLE NAHANT ROAD</AddressLine1>
            <City>NAHANT</City>
            <State>MA</State>
            <ZIPCode>01908</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>2.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>2000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <CompOfHighestPaidEmplNONE>NONE</CompOfHighestPaidEmplNONE>
        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SumOfProgramRelatedInvestments>
        <Description1>N/A</Description1>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>865074</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>23207</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>7460000</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>8348281</TotalFMVOfUnusedAssets>
        <AdjTotalFMVOfUnusedAssets>8348281</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>125224</CashDeemedCharitable>
        <NetNoncharitableAssets>8223057</NetNoncharitableAssets>
        <MinimumInvestmentReturn>411153</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>411153</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>6368</TaxBasedOnInvestmentIncome>
        <TotalTax>6368</TotalTax>
        <DistributableAmountBeforeAdj>404785</DistributableAmountBeforeAdj>
        <DistributableAmountBeforeDed>404785</DistributableAmountBeforeDed>
        <DistributableAmountAsAdjusted>404785</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>560139</ExpensesAndContributions>
        <QualifyingDistributions>560139</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>6368</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>553771</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>404785</DistributableAmountAsAdjusted>
        <ExcessDistriCarryoverYear5>17050</ExcessDistriCarryoverYear5>
        <ExcessDistriCarryoverYear4>152961</ExcessDistriCarryoverYear4>
        <ExcessDistriCarryoverYear3>94041</ExcessDistriCarryoverYear3>
        <ExcessDistriCarryoverYear2>173068</ExcessDistriCarryoverYear2>
        <ExcessDistriCarryoverYear1>140788</ExcessDistriCarryoverYear1>
        <TotalExcessDistriCarryover>577908</TotalExcessDistriCarryover>
        <QualifyingDistributions>560139</QualifyingDistributions>
        <AppliedToCurrentYear>404785</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>155354</RemainingDistriFromCorpus>
        <TotalCorpus>733262</TotalCorpus>
        <UndistributedIncomeCY>0</UndistributedIncomeCY>
        <ExcessDistriCyovFromYear5>17050</ExcessDistriCyovFromYear5>
        <ExcessDistriCyovToNextYear>716212</ExcessDistriCyovToNextYear>
        <ExcessFromYear4>152961</ExcessFromYear4>
        <ExcessFromYear3>94041</ExcessFromYear3>
        <ExcessFromYear2>173068</ExcessFromYear2>
        <ExcessFromYear1>140788</ExcessFromYear1>
        <ExcessFromCurrentYear>155354</ExcessFromCurrentYear>
      </UndistributedIncome>
      <SupplementaryInformation>
        <ContributingManager>NONE</ContributingManager>
        <ShareholderManager>NONE</ShareholderManager>
        <AppicationSubmissionInfo>
          <RecipientName>GREGORY C DEMAKIS</RecipientName>
          <RecipientUSAddress>
            <AddressLine1>56 CENTRAL AVENUESUITE 201</AddressLine1>
            <City>LYNN</City>
            <State>MA</State>
            <ZIPCode>01901</ZIPCode>
          </RecipientUSAddress>
          <RecipientPhoneNumber>7815953311</RecipientPhoneNumber>
          <FormAndInfoAndMaterials>NAME,ADDRESS,COLLEGE OR UNIVERSITY</FormAndInfoAndMaterials>
          <SubmissionDeadlines>NONE</SubmissionDeadlines>
          <RestrictionsOnAwards>MUST BE OF GREEK HERITAGE</RestrictionsOnAwards>
        </AppicationSubmissionInfo>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BOSTON SYMPHONY ORCH</BusinessNameLine1>
            <BusinessNameLine2>LYNN YOUTH PROGRAM</BusinessNameLine2>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>301 MASS AVENUE</AddressLine1>
            <City>BOSTON</City>
            <State>MA</State>
            <ZIPCode>02115</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BOSTON UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>121 BAY STATE ROAD</AddressLine1>
            <City>BOSTON</City>
            <State>MA</State>
            <ZIPCode>02215</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BOYS &amp; GIRLS CLUB OF LYNN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>25 N COMMON STREET</AddressLine1>
            <City>LYNN</City>
            <State>MA</State>
            <ZIPCode>01902</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5600</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BROWN UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>164 ANGELL STREET</AddressLine1>
            <City>PROVIDENCE</City>
            <State>RI</State>
            <ZIPCode>02912</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CARNEGIE MELLON UNIV</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>HAMBURG HALL</AddressLine1>
            <City>PITTSBURG</City>
            <State>PA</State>
            <ZIPCode>152133890</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>15000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>COLUMBIA UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>400 AVERY HALL</AddressLine1>
            <AddressLine2>1172 AMSTERDAM AVENUE</AddressLine2>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10027</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>110000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CUNY</BusinessNameLine1>
            <BusinessNameLine2>THE CITY UNIV OF NEW YORK-GRACE BUILDING</BusinessNameLine2>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>42ND STREET</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10012</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DUKE UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 90097</AddressLine1>
            <City>DURHAM</City>
            <State>NC</State>
            <ZIPCode>27708</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>GREATER LYNN YMCA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>20 NEPTUNE BLVD</AddressLine1>
            <City>LYNN</City>
            <State>MA</State>
            <ZIPCode>01902</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>GREATER LYNN SENIOR SERVICES</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>8 SILSBEE STREET</AddressLine1>
            <City>LYNN</City>
            <State>MA</State>
            <ZIPCode>01901</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HARVARD UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>48 QUINCY STREET</AddressLine1>
            <City>CAMBRIDGE</City>
            <State>MA</State>
            <ZIPCode>02138</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HELLENIC COLLEGE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>50 GODDARD AVENUE</AddressLine1>
            <City>BROOKLINE</City>
            <State>MA</State>
            <ZIPCode>02445</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HELLENIC WOMEN'S</BusinessNameLine1>
            <BusinessNameLine2>BENEVOLENT ASSOCIATION INC</BusinessNameLine2>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>601 SHERMAN STREET</AddressLine1>
            <City>CANTON</City>
            <State>MA</State>
            <ZIPCode>02021</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HOSPICE OF THE NORTH SHORE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>75 SYLAN STREET</AddressLine1>
            <City>DANVERS</City>
            <State>MA</State>
            <ZIPCode>01923</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>IOWA STATE UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>OFFICE OF ADMISSIONS</AddressLine1>
            <City>AMES</City>
            <State>IA</State>
            <ZIPCode>50011</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MIT</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>77 MASS AVENUE</AddressLine1>
            <City>CAMBRIDGE</City>
            <State>MA</State>
            <ZIPCode>021394307</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>15000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NEW YORK UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>70 WASHINGTON SQUARE</AddressLine1>
            <AddressLine2>SOUTH</AddressLine2>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10012</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ORTHODOX CHRISTIAN MISSION CENTER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>220 MASON MANATEE WAY</AddressLine1>
            <City>ST AUGUSTINE</City>
            <State>FL</State>
            <ZIPCode>32086</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>RAW ARTS WORKS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>37 CENTRAL SQUARE</AddressLine1>
            <City>LYNN</City>
            <State>MA</State>
            <ZIPCode>01901</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ST BASIL'S ACADEMY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>711 FOX CHASE ROAD</AddressLine1>
            <City>JENKINTOWN</City>
            <State>PA</State>
            <ZIPCode>19046</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>STANFORD UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>350 SERRA MALL 173</AddressLine1>
            <City>STANFORD</City>
            <State>CA</State>
            <ZIPCode>943059505</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>20000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ST GEORGE'S CHURCH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>54 SOUTH COMMON STREET</AddressLine1>
            <City>LYNN</City>
            <State>MA</State>
            <ZIPCode>01901</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>2500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>STEVENS INST OF TECH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>SIXTH HUDSON STREET</AddressLine1>
            <City>HOBOKEN</City>
            <State>NJ</State>
            <ZIPCode>07030</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>TEMPLE UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1803 N BROAD STREET</AddressLine1>
            <City>PHILADELPHIA</City>
            <State>PA</State>
            <ZIPCode>19122</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>THE NEXT GENERATION INITIATIVE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 7322</AddressLine1>
            <City>ARLINGTON</City>
            <State>VA</State>
            <ZIPCode>222079998</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>TUFTS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>419 BOSTON AVENUE</AddressLine1>
            <City>MEDFORD</City>
            <State>MA</State>
            <ZIPCode>02155</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF CALIFORNIA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>900 UNIVERSITY AVENUE</AddressLine1>
            <City>RIVERSIDE</City>
            <State>CA</State>
            <ZIPCode>92521</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>15000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF CHICAGO</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>5801 SOUTH ELLIS AVENUE</AddressLine1>
            <City>CHICAGO</City>
            <State>IL</State>
            <ZIPCode>60637</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF FLORIDA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 117200</AddressLine1>
            <City>GAINESVILLE</City>
            <State>FL</State>
            <ZIPCode>326117200</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF MARYLAND</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>ROOM 4105 HORNBAKE BLD</AddressLine1>
            <City>COLLEGE PARK</City>
            <State>MD</State>
            <ZIPCode>207424345</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF PENN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>3451 WALNUT STREET</AddressLine1>
            <City>PHILADELPHIA</City>
            <State>PA</State>
            <ZIPCode>19104</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF PITTSBURG</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4227 FIFTH AVENUE</AddressLine1>
            <City>PITTSBURG</City>
            <State>PA</State>
            <ZIPCode>15260</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF SOUTHERN CALIFORNIA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>3740 MCCLINTOCK AVENUE</AddressLine1>
            <City>LOS ANGELES</City>
            <State>CA</State>
            <ZIPCode>90089</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF TEXAS-AUSTIN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1 UNIVERSITY STATION</AddressLine1>
            <City>AUSTIN</City>
            <State>TX</State>
            <ZIPCode>78712</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>USO</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>700 CHILDS WAY</AddressLine1>
            <City>LOS ANGLES</City>
            <State>CA</State>
            <ZIPCode>900890914</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>VIRGINIA TECH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>106 HUTCHENSON HALL</AddressLine1>
            <City>BLACKBURG</City>
            <State>VA</State>
            <ZIPCode>24061</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HIGH SCHOOL SCHOLARSHIPS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>56 CENTRAL AVE</AddressLine1>
            <City>LYNN</City>
            <State>MA</State>
            <ZIPCode>01901</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PRIVATE</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>129000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>489600</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <IntOnSavingsAndTempCashInvst>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>26</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>26600</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <NetRntlIncmReNotDebtFincdProp>
          <RelatedOrExemptFunctionIncome>610183</RelatedOrExemptFunctionIncome>
        </NetRntlIncmReNotDebtFincdProp>
        <GainSalesAssetsOthThanInvntry>
          <RelatedOrExemptFunctionIncome>9712</RelatedOrExemptFunctionIncome>
        </GainSalesAssetsOthThanInvntry>
        <OtherRevenueDescribed>
          <Description>LITIGATION PROCEEDS</Description>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>263</ExclusionAmount>
        </OtherRevenueDescribed>
        <OtherRevenueDescribed>
          <Description>COLUMBIA SMALL-CAP GAIN DIV</Description>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>5139</ExclusionAmount>
        </OtherRevenueDescribed>
        <OtherRevenueDescribed>
          <Description>VOIDED GRANT CHECKS</Description>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>5000</ExclusionAmount>
        </OtherRevenueDescribed>
        <SubtotalsPartXVIA>
          <ExclusionAmount>37028</ExclusionAmount>
          <RelatedOrExemptFunctionIncome>619895</RelatedOrExemptFunctionIncome>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>656923</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
      <TrnsfrTrRlnWithNoncharitableEO>
        <TrnsfrOfCashToNoncharitableEO>false</TrnsfrOfCashToNoncharitableEO>
        <TrnsfrOthAssetsNoncharitableEO>false</TrnsfrOthAssetsNoncharitableEO>
        <SalesOrExchangesOfAssets>false</SalesOrExchangesOfAssets>
        <PurchaseAssetsNoncharitableEO>false</PurchaseAssetsNoncharitableEO>
        <RentalOfFacilitiesEtc>false</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>false</ReimbursementArrangements>
        <LoansOrLoanGuarantees>false</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>false</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>false</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>false</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc2">
      <AccountingFees>
        <Category>ACCOUNTING FEE</Category>
        <Amount>10000</Amount>
        <DisbursementsCharitablePrps>10000</DisbursementsCharitablePrps>
      </AccountingFees>
    </AccountingFeesSchedule>
    <CompensationExplanation documentId="RetDoc3">
      <Compensation>
        <PersonName>THOMAS C DEMAKIS ESQ</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>GREGORY C DEMAKIS ESQ</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>PAUL C DEMAKIS ESQ</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>GEORGE MARCOPOULOS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>DR NICHOLAS T ZERVAS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>THOMAS L DEMAKIS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>CHRISTOPHER SCANGAS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>RUSSELL SMITH</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>JOHN N DEMAKIS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>T PHILLIP COMENOS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>NONDAS LAGONAKIS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>ATHAS KOURKOUSIS</PersonName>
      </Compensation>
    </CompensationExplanation>
    <GainLossSaleOtherAssetsSch documentId="RetDoc4">
      <GainLossSaleOtherAsset>
        <Name>246SHS BAKER HUGHES INC</Name>
        <DateAcquired>2010-01</DateAcquired>
        <HowAcquired>PURCHASE</HowAcquired>
        <DateSold>2011-02</DateSold>
        <GrossSalesPrice>17479</GrossSalesPrice>
        <Basis>10005</Basis>
        <TotalNet>7474</TotalNet>
      </GainLossSaleOtherAsset>
      <GainLossSaleOtherAsset>
        <Name>100SHS HESS CORP</Name>
        <DateAcquired>2010-01</DateAcquired>
        <HowAcquired>PURCHASE</HowAcquired>
        <DateSold>2011-02</DateSold>
        <GrossSalesPrice>8386</GrossSalesPrice>
        <Basis>5996</Basis>
        <TotalNet>2390</TotalNet>
      </GainLossSaleOtherAsset>
      <GainLossSaleOtherAsset>
        <Name>CITIGROUP INC</Name>
        <DateAcquired>2010-01</DateAcquired>
        <HowAcquired>PURCHASE</HowAcquired>
        <DateSold>2011-05</DateSold>
        <GrossSalesPrice>36</GrossSalesPrice>
        <Basis>188</Basis>
        <TotalNet>-152</TotalNet>
      </GainLossSaleOtherAsset>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpBondsSchedule documentId="RetDoc5">
      <InvestmentsCorpBonds>
        <NameOfBond>CORP BONDS</NameOfBond>
        <EOYBookValue>469519</EOYBookValue>
        <EOYFMV>469519</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc6">
      <InvestmentsCorpStock>
        <NameOfStock>COMMON STOCK</NameOfStock>
        <EOYBookValue>401216</EOYBookValue>
        <EOYFMV>401216</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsLandSchedule2 documentId="RetDoc7">
      <InvestmentLand>
        <CategoryOrItem>LAND</CategoryOrItem>
        <CostOrOtherBasis>3910000</CostOrOtherBasis>
        <BookValue>3910000</BookValue>
        <EOYFMV>7460000</EOYFMV>
      </InvestmentLand>
    </InvestmentsLandSchedule2>
    <OtherDecreasesSchedule documentId="RetDoc8">
      <OtherDecreases>
        <Description>FEDERAL INCOME TAX</Description>
        <Amount>5656</Amount>
      </OtherDecreases>
      <OtherDecreases>
        <Description>DECREASE IN UNREALIZED GAINS ON INVESTMENTS</Description>
        <Amount>5792</Amount>
      </OtherDecreases>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc9">
      <OtherExpenses>
        <Description>EXPENSES</Description>
      </OtherExpenses>
      <OtherExpenses>
        <Description>SCHOLARSHIP ADVERTISING</Description>
        <RevenueAndExpensesPerBooks>3580</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>3580</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>BANK CHARGES</Description>
        <RevenueAndExpensesPerBooks>106</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>106</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INVESTMENT FEES</Description>
        <RevenueAndExpensesPerBooks>5009</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>5009</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISCELLANEOUS EXPENSE</Description>
        <RevenueAndExpensesPerBooks>880</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>880</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>DUES &amp; SUBSCRIPTIONS</Description>
        <RevenueAndExpensesPerBooks>695</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>695</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc10">
      <OtherIncome>
        <Description>LITIGATION PROCEEDS</Description>
        <RevenueAndExpensesPerBooks>263</RevenueAndExpensesPerBooks>
        <AdjustedNetIncome>263</AdjustedNetIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>COLUMBIA SMALL-CAP GAIN DIV</Description>
        <RevenueAndExpensesPerBooks>5139</RevenueAndExpensesPerBooks>
        <AdjustedNetIncome>5139</AdjustedNetIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>VOIDED GRANT CHECKS</Description>
        <RevenueAndExpensesPerBooks>5000</RevenueAndExpensesPerBooks>
        <AdjustedNetIncome>5000</AdjustedNetIncome>
      </OtherIncome>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="RetDoc11">
      <OtherLiabilities>
        <Description>DEFERRED INCOME TAXES</Description>
        <BOYBookValue>1308</BOYBookValue>
        <EOYBookValue>596</EOYBookValue>
      </OtherLiabilities>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc12">
      <OtherProfessionalFees>
        <Category>LEGAL FEES</Category>
        <Amount>50000</Amount>
        <DisbursementsCharitablePrps>50000</DisbursementsCharitablePrps>
      </OtherProfessionalFees>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc13">
      <Taxes>
        <Category>OTHER TAXES</Category>
        <Amount>269</Amount>
        <DisbursementsCharitablePrps>269</DisbursementsCharitablePrps>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>