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          <RestrictionsOnAwards>SEE STATEMENT #1</RestrictionsOnAwards>
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          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>SEE SCHEDULE</AddressLine1>
            <City>SEE SCHEDULE</City>
            <State>FL</State>
            <ZIPCode>33114</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>various</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>various</PurposeOfGrantOrContribution>
          <Amount>708067</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>708067</TotGrantOrContriPaidDuringYear>
        <GrantOrContriApprovedForFuture>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF MIAMI</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 248073</AddressLine1>
            <City>CORAL GABLES</City>
            <State>FL</State>
            <ZIPCode>33124</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Education</PurposeOfGrantOrContribution>
          <Amount>30035</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>450 SERRA MALL</AddressLine1>
            <City>STANFORD</City>
            <State>CA</State>
            <ZIPCode>94305</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Education</PurposeOfGrantOrContribution>
          <Amount>6000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>4013 DOUGLAS ROAD</AddressLine1>
            <City>COCONUT GROVE</City>
            <State>FL</State>
            <ZIPCode>33133</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Charitable</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>336 NW 5 STREET</AddressLine1>
            <City>MIAMI</City>
            <State>FL</State>
            <ZIPCode>33128</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Charitable</PurposeOfGrantOrContribution>
          <Amount>8000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>11441 NW 2ND AVENUE</AddressLine1>
            <City>MIAMI SHORES</City>
            <State>FL</State>
            <ZIPCode>33168</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Education</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>1120 AVE OF THE AMERICAS</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10036</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Charitable</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>1800 K ST NW 400</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20036</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Charitable</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>2100 PENNSYLVANIA AVE NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20037</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Charitable</PurposeOfGrantOrContribution>
          <Amount>8000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 10691</AddressLine1>
            <City>TALLAHASSEE</City>
            <State>FL</State>
            <ZIPCode>32302</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Education</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>TX AM UNIV 1145 TAMU</AddressLine1>
            <City>COLLEGE STATION</City>
            <State>TX</State>
            <ZIPCode>77843</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Charitable</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 600610</AddressLine1>
            <City>DALLAS</City>
            <State>TX</State>
            <ZIPCode>75206</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Charitable</PurposeOfGrantOrContribution>
          <Amount>30000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>6575 N KENDALL DR</AddressLine1>
            <City>MIAMI</City>
            <State>FL</State>
            <ZIPCode>33156</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Education</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 37460</AddressLine1>
            <City>TALLAHASSEE</City>
            <State>FL</State>
            <ZIPCode>32315</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Charitable</PurposeOfGrantOrContribution>
          <Amount>30000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>5692 N KENDALL DR</AddressLine1>
            <City>MIAMI</City>
            <State>FL</State>
            <ZIPCode>33156</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Education</PurposeOfGrantOrContribution>
          <Amount>37500</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>6425 BOAZ LANE</AddressLine1>
            <City>DALLAS</City>
            <State>TX</State>
            <ZIPCode>75205</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Education</PurposeOfGrantOrContribution>
          <Amount>4000</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 117625</AddressLine1>
            <City>GAINESVILLE</City>
            <State>FL</State>
            <ZIPCode>32611</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Education</PurposeOfGrantOrContribution>
          <Amount>750</Amount>
        </GrantOrContriApprovedForFuture>
        <GrantOrContriApprovedForFuture>
          <RecipientFoundationStatus>501(c)3</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>Charitable</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriApprovedForFuture>
        <TotGrantOrContriApprovedFuture>198785</TotGrantOrContriApprovedFuture>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <IntOnSavingsAndTempCashInvst>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>538</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>425611</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <OtherInvestmentIncomePartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>92</ExclusionAmount>
        </OtherInvestmentIncomePartVII>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>298809</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
          <ExclusionAmount>725050</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>725050</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>
    <IRS990ScheduleB documentId="00000002">
      <Organization501c3ExemptPF>X</Organization501c3ExemptPF>
      <GeneralRule>X</GeneralRule>
      <ContributorInfo>
        <ContributorNumber>1</ContributorNumber>
        <ContributorNameIndividual>CHARLES E COBB JR</ContributorNameIndividual>
        <ContributorAddressUS>
          <AddressLine1>PO BOX 14-4200</AddressLine1>
          <City>CORAL GABLES</City>
          <State>FL</State>
          <ZIPCode>331144200</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>225600</AggregateContributions>
        <NoncashContributionType>X</NoncashContributionType>
      </ContributorInfo>
      <NoncashProperty>
        <ContributorNumberFromPartI>1</ContributorNumberFromPartI>
        <NoncashPropertyDescription>6000 SHARES DISNEY STOCK @ 37.60/SHARE</NoncashPropertyDescription>
        <FairMarketValue>225600</FairMarketValue>
        <DateReceived>2010-12-29</DateReceived>
      </NoncashProperty>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="00000004">
      <AccountingFees>
        <Category>JL Hofmann &amp; Associates,PA tax return preparation</Category>
        <Amount>4900</Amount>
        <NetInvestmentIncome>4900</NetInvestmentIncome>
      </AccountingFees>
    </AccountingFeesSchedule>
    <GainLossSaleOtherAssetsSch documentId="00000005">
      <GainLossSaleOtherAsset>
        <Name>Public securities</Name>
        <HowAcquired>Purchased</HowAcquired>
        <GrossSalesPrice>852250</GrossSalesPrice>
        <Basis>553441</Basis>
        <TotalNet>298809</TotalNet>
      </GainLossSaleOtherAsset>
    </GainLossSaleOtherAssetsSch>
    <GeneralExplanationAttachment documentId="00000006">
      <GeneralExplanation>
        <Identifier>Statement #1 - Form in which applications should be submitted</Identifier>
        <Explanation>REQUESTS FOR CONTRIBUTIONS SHOULD INCLUDE A BRIEF HISTORY OF THE ORGANIZATION, A CURRENT LIST OF THE MEMBERS OF THE BOARD OF DIRECTORS AND SENIOR EXECUTIVES, THE CURRENT ANNUAL BUDGET, THE ENTITIES PERCENT OF MANAGEMENT/ADMINISTRATION COSTS TO DOLLARS DISTRIBUTED, THE PROPOSED USE OF REQUESTED FUNDS AND THE AMOUNT OF THE REQUEST. FURTHER, THE FOUNDATION WILL REQUIRE A COPY OF THE ORGANIZATION'S TAX EXEMPT CERTIFICATE.</Explanation>
      </GeneralExplanation>
    </GeneralExplanationAttachment>
    <InvestmentsCorpBondsSchedule documentId="00000007">
      <InvestmentsCorpBonds>
        <NameOfBond>Citigroup 5% 9/15/2014</NameOfBond>
        <EOYBookValue>81219</EOYBookValue>
        <EOYFMV>98076</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>GMAC</NameOfBond>
        <EOYBookValue>300000</EOYBookValue>
        <EOYFMV>275223</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>International Paper 7.95% 6/15/2018</NameOfBond>
        <EOYBookValue>83239</EOYBookValue>
        <EOYFMV>115503</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>Macy's 7.875% 7/15/2015</NameOfBond>
        <EOYBookValue>39318</EOYBookValue>
        <EOYFMV>58213</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>Marriot International 5.81% 11/10/2015</NameOfBond>
        <EOYBookValue>85380</EOYBookValue>
        <EOYFMV>112612</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="00000008">
      <InvestmentsCorpStock>
        <NameOfStock>Stocks - see statement 2</NameOfStock>
        <EOYBookValue>4465869</EOYBookValue>
        <EOYFMV>7215636</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>Schwab Mutual Funds</NameOfStock>
        <EOYBookValue>143398</EOYBookValue>
        <EOYFMV>133670</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>Vanguard Mutual Funds</NameOfStock>
        <EOYBookValue>2045496</EOYBookValue>
        <EOYFMV>2662079</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="00000009">
      <USGovtSecuritiesEOYBookValue>2609449</USGovtSecuritiesEOYBookValue>
      <USGovtSecuritiesEOYFMV>3265091</USGovtSecuritiesEOYFMV>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="00000010">
      <InvestmentsOther>
        <CategoryOrItem>BU Financial Holdings LLC</CategoryOrItem>
      </InvestmentsOther>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="00000011">
      <OtherExpenses>
        <Description>Bank Service Charges</Description>
        <RevenueAndExpensesPerBooks>188</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>188</NetInvestmentIncome>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="00000012">
      <OtherIncome>
        <Description>Class Action settlement</Description>
        <RevenueAndExpensesPerBooks>92</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>92</NetInvestmentIncome>
      </OtherIncome>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="00000013">
      <Taxes>
        <Category>Licenses</Category>
        <Amount>78</Amount>
        <NetInvestmentIncome>78</NetInvestmentIncome>
      </Taxes>
      <Taxes>
        <Category>Foreign tax paid</Category>
        <Amount>1908</Amount>
        <NetInvestmentIncome>1908</NetInvestmentIncome>
      </Taxes>
      <Taxes>
        <Category>Federal income taxes</Category>
        <Amount>6465</Amount>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>