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            <AddressLine1>407 DEXTER AVENUE N</AddressLine1>
            <City>SEATTLE</City>
            <State>WA</State>
            <ZIPCode>981094704</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>MERRILL WRIGHT</PersonName>
          <USAddress>
            <AddressLine1>407 DEXTER AVENUE N</AddressLine1>
            <City>SEATTLE</City>
            <State>WA</State>
            <ZIPCode>981094704</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>ROBIN WRIGHT MOLL</PersonName>
          <USAddress>
            <AddressLine1>3941 WASHINGTON STREET</AddressLine1>
            <City>SAN FRANCISCO</City>
            <State>CA</State>
            <ZIPCode>94118</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>PRENTICE B WRIGHT BING</PersonName>
          <USAddress>
            <AddressLine1>1165 5TH AVENUE 10A</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10029</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <CompOfHighestPaidEmplNONE>NONE</CompOfHighestPaidEmplNONE>
        <TotNumberOfOthEmplPaidOver50k>0</TotNumberOfOthEmplPaidOver50k>
        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
        <TotNumberOfCntrctPaidOver50k>0</TotNumberOfCntrctPaidOver50k>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SummaryOfDirectCharitableActy>
        <Description1>OPERATION OF AN ART GALLERY FOR THE EXHIBITION OF ART AVAILABLE FOR VIEWING BY STUDENTS, ARTISTS, MUSEUMS AND THE GENERAL PUBLIC.</Description1>
        <Expenses1>26350</Expenses1>
      </SummaryOfDirectCharitableActy>
      <SumOfProgramRelatedInvestments>
        <Description1>NONE</Description1>
        <Amount1>0</Amount1>
        <Total>0</Total>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>15686331</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>1240002</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>6364671</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>23291004</TotalFMVOfUnusedAssets>
        <ReductionClaimed>0</ReductionClaimed>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>23291004</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>349365</CashDeemedCharitable>
        <NetNoncharitableAssets>22941639</NetNoncharitableAssets>
        <MinimumInvestmentReturn>1147082</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>1147082</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>23521</TaxBasedOnInvestmentIncome>
        <IncomeTaxForThisYear>106</IncomeTaxForThisYear>
        <TotalTax>23627</TotalTax>
        <DistributableAmountBeforeAdj>1123455</DistributableAmountBeforeAdj>
        <RecoveriesQlfyDistributions>0</RecoveriesQlfyDistributions>
        <DistributableAmountBeforeDed>1123455</DistributableAmountBeforeDed>
        <DeductionFrDistributableAmount>0</DeductionFrDistributableAmount>
        <DistributableAmountAsAdjusted>1123455</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>1023323</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <QualifyingDistributions>1023323</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>0</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>1023323</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>1123455</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>0</UndistributedIncomePriorYear>
        <TotalForPriorYears>0</TotalForPriorYears>
        <ExcessDistriCarryoverYear4>381889</ExcessDistriCarryoverYear4>
        <ExcessDistriCarryoverYear3>896044</ExcessDistriCarryoverYear3>
        <ExcessDistriCarryoverYear2>4431185</ExcessDistriCarryoverYear2>
        <ExcessDistriCarryoverYear1>941611</ExcessDistriCarryoverYear1>
        <TotalExcessDistriCarryover>6650729</TotalExcessDistriCarryover>
        <QualifyingDistributions>1023323</QualifyingDistributions>
        <AppliedToYear1>0</AppliedToYear1>
        <AppliedToPriorYears>0</AppliedToPriorYears>
        <TreatedAsDistriFromCorpus>0</TreatedAsDistriFromCorpus>
        <AppliedToCurrentYear>1023323</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>0</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>100132</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>100132</ExcessDistriCyovAppliedCY>
        <TotalCorpus>6550597</TotalCorpus>
        <PriorYearUndistributedIncome>0</PriorYearUndistributedIncome>
        <PriorYearDeficiencyOrTax>0</PriorYearDeficiencyOrTax>
        <TaxableAmount1>0</TaxableAmount1>
        <TaxableAmount2>0</TaxableAmount2>
        <UndistributedIncomeCY>0</UndistributedIncomeCY>
        <DistriFromCorpus170b1EOr4942g3>0</DistriFromCorpus170b1EOr4942g3>
        <ExcessDistriCyovFromYear5>0</ExcessDistriCyovFromYear5>
        <ExcessDistriCyovToNextYear>6550597</ExcessDistriCyovToNextYear>
        <ExcessFromYear4>281757</ExcessFromYear4>
        <ExcessFromYear3>896044</ExcessFromYear3>
        <ExcessFromYear2>4431185</ExcessFromYear2>
        <ExcessFromYear1>941611</ExcessFromYear1>
      </UndistributedIncome>
      <SupplementaryInformation>
        <AppicationSubmissionInfo>
          <RecipientName>JAN DAY</RecipientName>
          <RecipientUSAddress>
            <AddressLine1>407 DEXTER AVE N</AddressLine1>
            <City>SEATTLE</City>
            <State>WA</State>
            <ZIPCode>981094704</ZIPCode>
          </RecipientUSAddress>
          <RecipientPhoneNumber>2062648200</RecipientPhoneNumber>
          <FormAndInfoAndMaterials>THERE IS NO STANDARD APPLICATION</FormAndInfoAndMaterials>
          <SubmissionDeadlines>THERE IS NO SUBMISSION DEADLINE</SubmissionDeadlines>
          <RestrictionsOnAwards>THE FUND PROVIDES FINANCIAL ASSISTANCE TO ANY QUALIFYING CHARITABLE BENEFICIARY UNDER 501(C)3-509(A)1,2 OR 3</RestrictionsOnAwards>
        </AppicationSubmissionInfo>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BLOEDEL RESERVE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>7571 NE DOLPHIN DRIVE</AddressLine1>
            <City>BAINBRIDGE ISLAND</City>
            <State>WA</State>
            <ZIPCode>98110</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING</PurposeOfGrantOrContribution>
          <Amount>250000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CHILDREN OF SHELTERS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2269 CHESTNUT STREET BOX 439</AddressLine1>
            <City>SAN FRANCISCO</City>
            <State>CA</State>
            <ZIPCode>94123</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ISLANDWOOD</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4450 BIKELY AVE NE</AddressLine1>
            <City>BAINBRIDGE ISLAND</City>
            <State>WA</State>
            <ZIPCode>98110</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>PRINCETON UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>330 ALEXANDER STREET</AddressLine1>
            <City>PRINCETON</City>
            <State>NJ</State>
            <ZIPCode>08544</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>EDUCATION INSTIT.</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SEATTLE ART MUSEUM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>100 UNIVERSITY STREET</AddressLine1>
            <City>SEATTLE</City>
            <State>WA</State>
            <ZIPCode>98122</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>ENDOWMENT</PurposeOfGrantOrContribution>
          <Amount>100000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SEATTLE OPERA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 9248</AddressLine1>
            <City>SEATTLE</City>
            <State>WA</State>
            <ZIPCode>98109</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>ENDOWMENT</PurposeOfGrantOrContribution>
          <Amount>250000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SEATTLE REPERTORY THEATRE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 900923 155 MERCER ST</AddressLine1>
            <City>SEATTLE</City>
            <State>WA</State>
            <ZIPCode>98109</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING</PurposeOfGrantOrContribution>
          <Amount>50000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>STORM KING ART CENTER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 280 OLD PLEASANT HILL RD</AddressLine1>
            <City>MOUNTAINVILLE</City>
            <State>NY</State>
            <ZIPCode>12553</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>WESTERN FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>OLD MAIN 430 MS 904 516 HIGH ST</AddressLine1>
            <City>BELLINGHAM</City>
            <State>WA</State>
            <ZIPCode>98225</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>OPERATING</PurposeOfGrantOrContribution>
          <Amount>250000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>950000</TotGrantOrContriPaidDuringYear>
        <TotGrantOrContriApprovedFuture>0</TotGrantOrContriApprovedFuture>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <IntOnSavingsAndTempCashInvst>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>32</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>236003</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <OtherInvestmentIncomePartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>13268</ExclusionAmount>
        </OtherInvestmentIncomePartVII>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>830452</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
          <UnrelatedBusinessIncomeAmount>0</UnrelatedBusinessIncomeAmount>
          <ExclusionAmount>1079755</ExclusionAmount>
          <RelatedOrExemptFunctionIncome>0</RelatedOrExemptFunctionIncome>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>1079755</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</Category>
        <Amount>11836</Amount>
        <NetInvestmentIncome>5918</NetInvestmentIncome>
        <DisbursementsCharitablePrps>5918</DisbursementsCharitablePrps>
      </AccountingFees>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="RetDoc2203000001">
      <Depreciation>
        <DescriptionOfProperty>BUILDING</DescriptionOfProperty>
        <DateAcquired>1999-01-01</DateAcquired>
        <CostOrOtherBasis>22200</CostOrOtherBasis>
        <PriorYearsDepreciation>6831</PriorYearsDepreciation>
        <ComputationMethod>SL</ComputationMethod>
        <Life>39.000000000000</Life>
        <CurrentYearExpense>569</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>IMPROVEMENTS</DescriptionOfProperty>
        <DateAcquired>1999-01-01</DateAcquired>
        <CostOrOtherBasis>37154</CostOrOtherBasis>
        <PriorYearsDepreciation>11432</PriorYearsDepreciation>
        <ComputationMethod>SL</ComputationMethod>
        <Life>39.000000000000</Life>
        <CurrentYearExpense>953</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>IMPROVEMENTS</DescriptionOfProperty>
        <DateAcquired>2000-01-13</DateAcquired>
        <CostOrOtherBasis>6904</CostOrOtherBasis>
        <PriorYearsDepreciation>1947</PriorYearsDepreciation>
        <ComputationMethod>SL</ComputationMethod>
        <Life>39.000000000000</Life>
        <CurrentYearExpense>177</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>LAND</DescriptionOfProperty>
        <DateAcquired>1999-01-01</DateAcquired>
        <CostOrOtherBasis>2097635</CostOrOtherBasis>
        <ComputationMethod>L</ComputationMethod>
        <CurrentYearExpense>0</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
    </DepreciationSchedule>
    <ExpenditureResponsibilityStmt documentId="RetDoc2118100001">
      <ExpenditureResponsibility>
        <BusinessName>
          <BusinessNameLine1>B &amp; M WRIGHT FOUNDATION</BusinessNameLine1>
        </BusinessName>
        <USAddress>
          <AddressLine1>C/O WELLSPRING GROUP PS CPAS 10885</AddressLine1>
          <AddressLine2>NE FOURTH S</AddressLine2>
          <City>BELLEVUE</City>
          <State>WA</State>
          <ZIPCode>98004</ZIPCode>
        </USAddress>
        <GrantDate>2009-07-31</GrantDate>
        <GrantAmount>1000000</GrantAmount>
        <GrantPurpose>TO CARRY OUT CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATION PURPOSES.</GrantPurpose>
        <AmountExpendedByGrantee>115300</AmountExpendedByGrantee>
        <AnyDiversionByGrantee>NO</AnyDiversionByGrantee>
        <DatesOfReportsByGrantee>11/08/2012</DatesOfReportsByGrantee>
        <ResultsOfVerification>THE GRANT FUNDS CONTINUE TO BE USED SOLELY FOR THE PURPOSES DESCRIBED IN THE GRANT AGREEMENT.</ResultsOfVerification>
      </ExpenditureResponsibility>
      <ExpenditureResponsibility>
        <BusinessName>
          <BusinessNameLine1>LADY FOUNDATION</BusinessNameLine1>
        </BusinessName>
        <USAddress>
          <AddressLine1>C/O WELLSPRING GROUP PS CPAS 10885</AddressLine1>
          <AddressLine2>NE FOURTH S</AddressLine2>
          <City>BELLEVUE</City>
          <State>WA</State>
          <ZIPCode>98004</ZIPCode>
        </USAddress>
        <GrantDate>2009-08-13</GrantDate>
        <GrantAmount>1000000</GrantAmount>
        <GrantPurpose>TO CARRY OUT CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATION PURPOSES.</GrantPurpose>
        <AmountExpendedByGrantee>101830</AmountExpendedByGrantee>
        <AnyDiversionByGrantee>NO</AnyDiversionByGrantee>
        <DatesOfReportsByGrantee>11/08/2012</DatesOfReportsByGrantee>
        <ResultsOfVerification>THE GRANT FUNDS CONTINUE TO BE USED SOLELY FOR THE PURPOSES DESCRIBED IN THE GRANT AGREEMENT.</ResultsOfVerification>
      </ExpenditureResponsibility>
      <ExpenditureResponsibility>
        <BusinessName>
          <BusinessNameLine1>CHARLES AND BARBARA WRIGHT FOUNDATION</BusinessNameLine1>
        </BusinessName>
        <USAddress>
          <AddressLine1>407 DEXTER AVENUE N</AddressLine1>
          <City>SEATTLE</City>
          <State>WA</State>
          <ZIPCode>89109</ZIPCode>
        </USAddress>
        <GrantDate>2009-10-23</GrantDate>
        <GrantAmount>1000000</GrantAmount>
        <GrantPurpose>TO CARRY OUT CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATION PURPOSES.</GrantPurpose>
        <AmountExpendedByGrantee>373991</AmountExpendedByGrantee>
        <AnyDiversionByGrantee>NO</AnyDiversionByGrantee>
        <DatesOfReportsByGrantee>11/08/2012</DatesOfReportsByGrantee>
        <ResultsOfVerification>THE GRANT FUNDS CONTINUE TO BE USED SOLELY FOR THE PURPOSES DESCRIBED IN THE GRANT AGREEMENT.</ResultsOfVerification>
      </ExpenditureResponsibility>
    </ExpenditureResponsibilityStmt>
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      <InvestmentsCorpBonds>
        <NameOfBond>SHORT TERM BOND FUND OF AMERICA</NameOfBond>
        <EOYBookValue>16470217</EOYBookValue>
        <EOYFMV>16492366</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorpStock>
        <NameOfStock>FIBERTOWER CORP</NameOfStock>
        <EOYBookValue>7711</EOYBookValue>
        <EOYFMV>271</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOther>
        <CategoryOrItem>ABRAMS CAPITAL</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>164339</BookValue>
        <EOYFMV>164339</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>ETON PARK</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>1176076</BookValue>
        <EOYFMV>1309734</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>FARALLON CAPITAL</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>116820</BookValue>
        <EOYFMV>205280</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>HALL CAP SPEC OPS</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>661318</BookValue>
        <EOYFMV>879767</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>LINCOLN VALE EUROPEAN PARTNERS</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>0</BookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>PROSPECT HARBOR</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>1014014</BookValue>
        <EOYFMV>152755</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>TACONIC OPPORTUNITY</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>0</BookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>TIFF PARTNERS IV</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>1478824</BookValue>
        <EOYFMV>1478824</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>WATERSHED CAPITAL</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>31988</BookValue>
        <EOYFMV>31988</EOYFMV>
      </InvestmentsOther>
    </InvestmentsOtherSchedule2>
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