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    <Timestamp>2012-04-24T15:24:24-04:00</Timestamp>
    <TaxPeriodEndDate>2011-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>The Ayco Company LP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>PO BOX 15014</AddressLine1>
        <City>ALBANY</City>
        <State>NY</State>
        <ZIPCode>122125014</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990PF</ReturnType>
    <TaxPeriodBeginDate>2011-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>274034436</EIN>
      <Name>
        <BusinessNameLine1>THE BU FAMILY FOUNDATION</BusinessNameLine1>
      </Name>
      <InCareOfName>% MATTHEW MOORE</InCareOfName>
      <NameControl>BUFA</NameControl>
      <Phone>5188864225</Phone>
      <USAddress>
        <AddressLine1>c/o matthew moore the ayco company</AddressLine1>
        <AddressLine2>po box 860</AddressLine2>
        <City>saratoga springs</City>
        <State>NY</State>
        <ZIPCode>128660860</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>john j bu</Name>
      <Title>trustee</Title>
      <DateSigned>2012-04-16</DateSigned>
      <AuthorizeThirdParty>true</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>Shawn Denis</Name>
      <Phone>5186405000</Phone>
    </Preparer>
    <TaxYear>2011</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="6">
    <IRS990PF documentId="IRS990PF">
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      <FMVAssetsEOY>954953</FMVAssetsEOY>
      <MethodOfAccountingCash>X</MethodOfAccountingCash>
      <AnalysisOfRevenueAndExpenses>
        <ContriReceivedRevAndExpnss>0</ContriReceivedRevAndExpnss>
        <DividendsRevAndExpnss>447</DividendsRevAndExpnss>
        <DividendsNetInvstIncm>447</DividendsNetInvstIncm>
        <TotalRevenueAndExpenses>447</TotalRevenueAndExpenses>
        <TotalNetInvestmentIncome>447</TotalNetInvestmentIncome>
        <LegalFeesRevAndExpnss referenceDocumentId="LegalFeesSch">10942</LegalFeesRevAndExpnss>
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        <LegalFeesDsbrsChrtblPrps>0</LegalFeesDsbrsChrtblPrps>
        <OtherProfFeesRevAndExpnss referenceDocumentId="OthProfFeesSch">2500</OtherProfFeesRevAndExpnss>
        <TotOprExpensesRevAndExpnss>13442</TotOprExpensesRevAndExpnss>
        <TotOprExpensesNetInvstIncm>0</TotOprExpensesNetInvstIncm>
        <TotOprExpensesAdjNetIncm>0</TotOprExpensesAdjNetIncm>
        <TotOprExpensesDsbrsChrtblPrps>0</TotOprExpensesDsbrsChrtblPrps>
        <ContriGiftsPaidRevAndExpnss>32072</ContriGiftsPaidRevAndExpnss>
        <ContriGiftsPaidDsbrsChrtblPrps>32072</ContriGiftsPaidDsbrsChrtblPrps>
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        <ExcessOfRevenueOverExpenses>-45067</ExcessOfRevenueOverExpenses>
        <NetInvestmentIncome>447</NetInvestmentIncome>
      </AnalysisOfRevenueAndExpenses>
      <BalanceSheets>
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        <CashEOY>954953</CashEOY>
        <CashEOYFMV>954953</CashEOYFMV>
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        <TotalAssetsEOYFMV>954953</TotalAssetsEOYFMV>
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        <CapitalStockEOY>954953</CapitalStockEOY>
        <RetainedEarningsBOY>0</RetainedEarningsBOY>
        <TotalNetAssetsBOY>1000020</TotalNetAssetsBOY>
        <TotalNetAssetsEOY>954953</TotalNetAssetsEOY>
        <TotalLiabilitiesNetAssetsBOY>1000020</TotalLiabilitiesNetAssetsBOY>
        <TotalLiabilitiesNetAssetsEOY>954953</TotalLiabilitiesNetAssetsEOY>
      </BalanceSheets>
      <ChangesInNetAssetsFundBalances>
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        <ExcessOfRevenueOverExpenses>-45067</ExcessOfRevenueOverExpenses>
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        <TotalNetAssetsFundBalancesEOY>954953</TotalNetAssetsFundBalancesEOY>
      </ChangesInNetAssetsFundBalances>
      <CapitalGainsAndLosses />
      <QlfyUndSect4940eForReducedTax>
        <LiableFor4942Tax>false</LiableFor4942Tax>
        <QualifyingDistributionsYear1>0</QualifyingDistributionsYear1>
        <NoncharitableAssetsYear1>264274</NoncharitableAssetsYear1>
        <DistributionRatioYear1>0.0</DistributionRatioYear1>
        <TotalDistributionRatio>0.0</TotalDistributionRatio>
        <AverageDistributionRatio>0.0</AverageDistributionRatio>
        <NetNoncharitableAssets>971874</NetNoncharitableAssets>
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        <OnePercentNetInvestmentIncome>4</OnePercentNetInvestmentIncome>
        <AdjNonchrtblAssetsAndOnePct>4</AdjNonchrtblAssetsAndOnePct>
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      </QlfyUndSect4940eForReducedTax>
      <ExciseTaxBasedOnInvestmentIncm>
        <DomesticOrgMeetingSect4940e>X</DomesticOrgMeetingSect4940e>
        <InvestmentIncomeExciseTax>4</InvestmentIncomeExciseTax>
        <Subtotal>4</Subtotal>
        <TaxBasedOnInvestmentIncome>4</TaxBasedOnInvestmentIncome>
        <TotalCreditsAndPayments>0</TotalCreditsAndPayments>
        <TaxDue>4</TaxDue>
      </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>
        <Form990PFFiledWithAG>false</Form990PFFiledWithAG>
        <PrivateOperatingFoundation>false</PrivateOperatingFoundation>
        <NewSubstantialContributors>false</NewSubstantialContributors>
        <InterestInControlledEntity>false</InterestInControlledEntity>
        <ApplicableInsuranceContract>false</ApplicableInsuranceContract>
        <ComplyWithPublicInspectionRqr>true</ComplyWithPublicInspectionRqr>
        <WebsiteAddress>n/a</WebsiteAddress>
        <BooksInCareOfBusinessName>
          <BusinessNameLine1>MATTHEW MOORE</BusinessNameLine1>
        </BooksInCareOfBusinessName>
        <BooksInCareOfPhoneNumber>5188864225</BooksInCareOfPhoneNumber>
        <BooksInCareOfUSAddress>
          <AddressLine1>THE AYCO COMPANY LP 321 BROADWAY</AddressLine1>
          <City>SARATOGA SPRINGS</City>
          <State>NY</State>
          <ZIPCode>12866</ZIPCode>
        </BooksInCareOfUSAddress>
        <ForeignBank>false</ForeignBank>
      </StatementsRegardingActivities>
      <StatementsRegardingActy4720>
        <SaleOrExchangeWithDsqflyPerson>false</SaleOrExchangeWithDsqflyPerson>
        <BorrowOrLendWithDsqflyPerson>false</BorrowOrLendWithDsqflyPerson>
        <FurnishedGoodsWithDsqflyPerson>false</FurnishedGoodsWithDsqflyPerson>
        <PayCompensationToDsqflyPerson>false</PayCompensationToDsqflyPerson>
        <TransferAssetsToDsqflyPerson>false</TransferAssetsToDsqflyPerson>
        <PaymentToGovernmentOffical>false</PaymentToGovernmentOffical>
        <UncorrectedPriorActs>false</UncorrectedPriorActs>
        <UndistributedIncomePriorYears>false</UndistributedIncomePriorYears>
        <UndistrIncome4942a2NotApplied>false</UndistrIncome4942a2NotApplied>
        <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>
        <ProhibitedTaxShelterTransactn>false</ProhibitedTaxShelterTransactn>
        <ProceedsOrNetIncome>false</ProceedsOrNetIncome>
      </StatementsRegardingActy4720>
      <OfcrDirTrusteesKeyEmployeeInfo>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>JOHN J BU</PersonName>
          <USAddress>
            <AddressLine1>c/o matthew moore the ayco company</AddressLine1>
            <City>saratoga springs</City>
            <State>NY</State>
            <ZIPCode>128660860</ZIPCode>
          </USAddress>
          <Title>TRUSTEE - AS NEEDED</Title>
          <AvgHoursPerWkDevotedToPosition>0</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>JENNIFER BU</PersonName>
          <USAddress>
            <AddressLine1>c/o matthew moore the ayco company</AddressLine1>
            <City>saratoga springs</City>
            <State>NY</State>
            <ZIPCode>128660860</ZIPCode>
          </USAddress>
          <Title>TRUSTEE - AS NEEDED</Title>
          <AvgHoursPerWkDevotedToPosition>0</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
        </OfcrDirTrusteesOrKeyEmployee>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SummaryOfDirectCharitableActy>
        <Description1>PLEASE NOTE, THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT OTHER CHARITABLE ORGANIZATIONS EXEMPT UNDER IRS SEC 501 C(3)</Description1>
      </SummaryOfDirectCharitableActy>
      <SumOfProgramRelatedInvestments>
        <Description1>NONE</Description1>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>0</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>986674</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>0</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>986674</TotalFMVOfUnusedAssets>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>986674</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>14800</CashDeemedCharitable>
        <NetNoncharitableAssets>971874</NetNoncharitableAssets>
        <MinimumInvestmentReturn>48594</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>48594</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>4</TaxBasedOnInvestmentIncome>
        <TotalTax>4</TotalTax>
        <DistributableAmountBeforeAdj>48590</DistributableAmountBeforeAdj>
        <DistributableAmountBeforeDed>48590</DistributableAmountBeforeDed>
        <DistributableAmountAsAdjusted>48590</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>32072</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <AmountsPaidAcqCharitableAssets>0</AmountsPaidAcqCharitableAssets>
        <AmountsSetAsideSuitabilityTest>0</AmountsSetAsideSuitabilityTest>
        <AmountsSetAsideCashDistriTest>0</AmountsSetAsideCashDistriTest>
        <QualifyingDistributions>32072</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>4</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>32068</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>48590</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>13214</UndistributedIncomePriorYear>
        <ExcessDistriCarryoverYear1>0</ExcessDistriCarryoverYear1>
        <TotalExcessDistriCarryover>0</TotalExcessDistriCarryover>
        <QualifyingDistributions>32072</QualifyingDistributions>
        <AppliedToYear1>13214</AppliedToYear1>
        <AppliedToCurrentYear>18858</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>0</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>0</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>0</ExcessDistriCyovAppliedCY>
        <TotalCorpus>0</TotalCorpus>
        <UndistributedIncomeCY>29732</UndistributedIncomeCY>
        <ExcessDistriCyovToNextYear>0</ExcessDistriCyovToNextYear>
        <ExcessFromCurrentYear>0</ExcessFromCurrentYear>
      </UndistributedIncome>
      <PrivateOperatingFoundations />
      <SupplementaryInformation>
        <ContributingManager>JOHN J AND JENNIFER BU</ContributingManager>
        <ShareholderManager>NA</ShareholderManager>
        <OnlyContributesToPreselected>X</OnlyContributesToPreselected>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>newark academy</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>91 south orange ave</AddressLine1>
            <City>livingston</City>
            <State>NJ</State>
            <ZIPCode>07039</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>none</RecipientRelationship>
          <RecipientFoundationStatus>501(c)(3)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>general charitable purposes</PurposeOfGrantOrContribution>
          <Amount>5572</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>korean-american community foundation</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>501 fith ave 3rd floor</AddressLine1>
            <City>new york</City>
            <State>NY</State>
            <ZIPCode>10017</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>none</RecipientRelationship>
          <RecipientFoundationStatus>501(c)(3)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>general charitable purposes</PurposeOfGrantOrContribution>
          <Amount>500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>bob fund for children</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>100 west seneca street</AddressLine1>
            <City>ithaca</City>
            <State>NY</State>
            <ZIPCode>14851</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>none</RecipientRelationship>
          <RecipientFoundationStatus>501(c)(3)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>general charitable purposes</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>vanguard charitable endowment program</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>95 wells ave suite 155</AddressLine1>
            <City>newton</City>
            <State>MA</State>
            <ZIPCode>02459</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>none</RecipientRelationship>
          <RecipientFoundationStatus>501(c)(3)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>general charitable purposes</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>32072</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <FeesContractsFromGovtAgencies />
        <MembershipDuesAndAssessments />
        <IntOnSavingsAndTempCashInvst />
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>447</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <NetRentalIncmReDebtFincdProp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncmPersonalProperty />
        <OtherInvestmentIncomePartVII />
        <GainSalesAssetsOthThanInvntry />
        <NetIncomeLossFromSpecialEvents />
        <GrossProfitLossSalesOfInvntry />
        <SubtotalsPartXVIA>
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        </SubtotalsPartXVIA>
        <TotalPartXVIA>447</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
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        <SalesOrExchangesOfAssets>false</SalesOrExchangesOfAssets>
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        <RentalOfFacilitiesEtc>false</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>false</ReimbursementArrangements>
        <LoansOrLoanGuarantees>false</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>false</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>false</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>false</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
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    <DepreciationSchedule documentId="DepreciationSch" />
    <ExplnOfNonFilingWithAGStmt documentId="ExplnOfNonFilingAGSt">
      <Statement>the state of new jersey does not require a copy of form 990-pf.</Statement>
    </ExplnOfNonFilingWithAGStmt>
    <LandEtcSchedule2 documentId="LandEtcSch2" />
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      <LegalFees>
        <Category>LEGAL FEES</Category>
        <Amount>10942</Amount>
      </LegalFees>
    </LegalFeesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFees>
        <Category>TAX AND ACCOUNTING</Category>
        <Amount>2500</Amount>
      </OtherProfessionalFees>
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