﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2010v3.2">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2011-05-11T08:10:21-05:00</Timestamp>
    <TaxPeriodEndDate>2010-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>EDELSTEIN AND COMPANY LLP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>160 FEDERAL STREET 9TH FLOOR</AddressLine1>
        <City>BOSTON</City>
        <State>MA</State>
        <ZIPCode>021101772</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990PF</ReturnType>
    <TaxPeriodBeginDate>2010-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>043526349</EIN>
      <Name>
        <BusinessNameLine1>THE CROSS FOUNDATION</BusinessNameLine1>
      </Name>
      <NameControl>CROS</NameControl>
      <Phone>6175637434</Phone>
      <USAddress>
        <AddressLine1>284 MATTISON DRIVE</AddressLine1>
        <City>CONCORD</City>
        <State>MA</State>
        <ZIPCode>017424147</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>ROBERT LAWRENCE</Name>
      <Title>TRUSTEE</Title>
      <Phone>6175637434</Phone>
      <DateSigned>2011-05-09</DateSigned>
      <AuthorizeThirdParty>1</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>ALFONSO PERILLO</Name>
      <Phone>6172276161</Phone>
      <DatePrepared>2011-05-09</DatePrepared>
    </Preparer>
    <TaxYear>2010</TaxYear>
    <BuildTS>2016-03-07 17:11:31Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="7">
    <IRS990PF documentId="RetDoc1235000001">
      <ExemptPF>X</ExemptPF>
      <FMVAssetsEOY>3290665</FMVAssetsEOY>
      <MethodOfAccountingCash>X</MethodOfAccountingCash>
      <AnalysisOfRevenueAndExpenses>
        <NotRequiredToAttachScheduleB>X</NotRequiredToAttachScheduleB>
        <DividendsRevAndExpnss>247516</DividendsRevAndExpnss>
        <DividendsNetInvstIncm>247516</DividendsNetInvstIncm>
        <NetGainSaleAssetsRevAndExpnss>307185</NetGainSaleAssetsRevAndExpnss>
        <GrossSalesPrice>937389</GrossSalesPrice>
        <CapitalGainNetIncmNetInvstIncm>307185</CapitalGainNetIncmNetInvstIncm>
        <TotalRevenueAndExpenses>554701</TotalRevenueAndExpenses>
        <TotalNetInvestmentIncome>554701</TotalNetInvestmentIncome>
        <CompOfcrDirTrstRevAndExpnss>0</CompOfcrDirTrstRevAndExpnss>
        <CompOfcrDirTrstNetInvstIncm>0</CompOfcrDirTrstNetInvstIncm>
        <CompOfcrDirTrstDsbrsChrtblPrps>0</CompOfcrDirTrstDsbrsChrtblPrps>
        <AccountingFeesRevAndExpnss referenceDocumentId="RetDoc2002200001">2492</AccountingFeesRevAndExpnss>
        <AccountingFeesNetInvstIncm>0</AccountingFeesNetInvstIncm>
        <AccountingFeesDsbrsChrtblPrps>2492</AccountingFeesDsbrsChrtblPrps>
        <OtherExpensesRevAndExpnss referenceDocumentId="RetDoc2003200001">565</OtherExpensesRevAndExpnss>
        <OtherExpensesNetInvstIncm>0</OtherExpensesNetInvstIncm>
        <OtherExpensesDsbrsChrtblPrps>565</OtherExpensesDsbrsChrtblPrps>
        <TotOprExpensesRevAndExpnss>3057</TotOprExpensesRevAndExpnss>
        <TotOprExpensesNetInvstIncm>0</TotOprExpensesNetInvstIncm>
        <TotOprExpensesDsbrsChrtblPrps>3057</TotOprExpensesDsbrsChrtblPrps>
        <ContriGiftsPaidRevAndExpnss>113000</ContriGiftsPaidRevAndExpnss>
        <ContriGiftsPaidDsbrsChrtblPrps>113000</ContriGiftsPaidDsbrsChrtblPrps>
        <TotalExpensesRevAndExpnss>116057</TotalExpensesRevAndExpnss>
        <TotalExpensesNetInvstIncm>0</TotalExpensesNetInvstIncm>
        <TotalExpensesDsbrsChrtblPrps>116057</TotalExpensesDsbrsChrtblPrps>
        <ExcessOfRevenueOverExpenses>438644</ExcessOfRevenueOverExpenses>
        <NetInvestmentIncome>554701</NetInvestmentIncome>
      </AnalysisOfRevenueAndExpenses>
      <BalanceSheets>
        <SavingsAndTempCashInvstBOY>672987</SavingsAndTempCashInvstBOY>
        <SavingsAndTempCashInvstEOY>608908</SavingsAndTempCashInvstEOY>
        <SavingsAndTempCashInvstEOYFMV>608908</SavingsAndTempCashInvstEOYFMV>
        <InvestmentsCorpStockBOY>650000</InvestmentsCorpStockBOY>
        <InvestmentsCorpStockEOY referenceDocumentId="RetDoc2018900001">650000</InvestmentsCorpStockEOY>
        <InvestmentsCorpStockEOYFMV>650000</InvestmentsCorpStockEOYFMV>
        <InvestmentsOtherBOY>1358608</InvestmentsOtherBOY>
        <InvestmentsOtherEOY referenceDocumentId="RetDoc2018100001">1924396</InvestmentsOtherEOY>
        <InvestmentsOtherEOYFMV>2031757</InvestmentsOtherEOYFMV>
        <TotalAssetsBOY>2681595</TotalAssetsBOY>
        <TotalAssetsEOY>3183304</TotalAssetsEOY>
        <TotalAssetsEOYFMV>3290665</TotalAssetsEOYFMV>
        <TotalLiabilitiesBOY>0</TotalLiabilitiesBOY>
        <TotalLiabilitiesEOY>0</TotalLiabilitiesEOY>
        <OrgThatDoNotFollowSFAS117>X</OrgThatDoNotFollowSFAS117>
        <CapitalStockBOY>0</CapitalStockBOY>
        <CapitalStockEOY>0</CapitalStockEOY>
        <PaidInOrCapitalSurplusBOY>0</PaidInOrCapitalSurplusBOY>
        <PaidInOrCapitalSurplusEOY>0</PaidInOrCapitalSurplusEOY>
        <RetainedEarningsBOY>2681595</RetainedEarningsBOY>
        <RetainedEarningsEOY>3183304</RetainedEarningsEOY>
        <TotalNetAssetsBOY>2681595</TotalNetAssetsBOY>
        <TotalNetAssetsEOY>3183304</TotalNetAssetsEOY>
        <TotalLiabilitiesNetAssetsBOY>2681595</TotalLiabilitiesNetAssetsBOY>
        <TotalLiabilitiesNetAssetsEOY>3183304</TotalLiabilitiesNetAssetsEOY>
      </BalanceSheets>
      <ChangesInNetAssetsFundBalances>
        <TotalNetAssetsFundBalancesBOY>2681595</TotalNetAssetsFundBalancesBOY>
        <ExcessOfRevenueOverExpenses>438644</ExcessOfRevenueOverExpenses>
        <OtherIncreases referenceDocumentId="RetDoc2049700001">73978</OtherIncreases>
        <Subtotal>3194217</Subtotal>
        <OtherDecreases referenceDocumentId="RetDoc2049800001">10913</OtherDecreases>
        <TotalNetAssetsFundBalancesEOY>3183304</TotalNetAssetsFundBalancesEOY>
      </ChangesInNetAssetsFundBalances>
      <CapitalGainsAndLosses>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>SALE OF PUBLICLY TRADED SECURITIES</DescriptionOfAsset>
          <GrossSalesPrice>863976</GrossSalesPrice>
          <CostOrOtherBasis>630204</CostOrOtherBasis>
          <GainOrLoss>233772</GainOrLoss>
          <GainsMinusExcessOrLosses>233772</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <HowAcquired>P</HowAcquired>
          <GainOrLoss>0</GainOrLoss>
          <GainsMinusExcessOrLosses>0</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>CAPITAL GAINS DIVIDENDS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <GrossSalesPrice>73413</GrossSalesPrice>
          <GainOrLoss>73413</GainOrLoss>
          <GainsMinusExcessOrLosses>73413</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainNetIncome>307185</CapitalGainNetIncome>
      </CapitalGainsAndLosses>
      <QlfyUndSect4940eForReducedTax>
        <LiableFor4942Tax>0</LiableFor4942Tax>
        <QualifyingDistributionsYear1>268867</QualifyingDistributionsYear1>
        <NoncharitableAssetsYear1>2750145</NoncharitableAssetsYear1>
        <DistributionRatioYear1>0.097765</DistributionRatioYear1>
        <QualifyingDistributionsYear2>126173</QualifyingDistributionsYear2>
        <NoncharitableAssetsYear2>2288513</NoncharitableAssetsYear2>
        <DistributionRatioYear2>0.055133</DistributionRatioYear2>
        <QualifyingDistributionsYear3>108820</QualifyingDistributionsYear3>
        <NoncharitableAssetsYear3>1933937</NoncharitableAssetsYear3>
        <DistributionRatioYear3>0.056269</DistributionRatioYear3>
        <QualifyingDistributionsYear4>84700</QualifyingDistributionsYear4>
        <NoncharitableAssetsYear4>1695044</NoncharitableAssetsYear4>
        <DistributionRatioYear4>0.049969</DistributionRatioYear4>
        <QualifyingDistributionsYear5>133288</QualifyingDistributionsYear5>
        <NoncharitableAssetsYear5>1456251</NoncharitableAssetsYear5>
        <DistributionRatioYear5>0.091528</DistributionRatioYear5>
        <TotalDistributionRatio>0.350664</TotalDistributionRatio>
        <AverageDistributionRatio>0.070133</AverageDistributionRatio>
        <NetNoncharitableAssets>3098583</NetNoncharitableAssets>
        <AdjustedNoncharitableAssets>217313</AdjustedNoncharitableAssets>
        <OnePercentNetInvestmentIncome>5547</OnePercentNetInvestmentIncome>
        <AdjNonchrtblAssetsAndOnePct>222860</AdjNonchrtblAssetsAndOnePct>
        <QualifyingDistributions>116057</QualifyingDistributions>
      </QlfyUndSect4940eForReducedTax>
      <ExciseTaxBasedOnInvestmentIncm>
        <InvestmentIncomeExciseTax>11094</InvestmentIncomeExciseTax>
        <TaxUnderSection511>0</TaxUnderSection511>
        <Subtotal>11094</Subtotal>
        <SubtitleATax>0</SubtitleATax>
        <TaxBasedOnInvestmentIncome>11094</TaxBasedOnInvestmentIncome>
        <EstTaxPaymentsAndOverpayment>2435</EstTaxPaymentsAndOverpayment>
        <TotalCreditsAndPayments>2435</TotalCreditsAndPayments>
        <TaxDue>8659</TaxDue>
      </ExciseTaxBasedOnInvestmentIncm>
      <StatementsRegardingActivities>
        <LegislativePoliticalActivities>0</LegislativePoliticalActivities>
        <MoreThan100Spent>0</MoreThan100Spent>
        <Form1120POLFiled>0</Form1120POLFiled>
        <Sect4955TaxOnOrganization>0</Sect4955TaxOnOrganization>
        <Sect4955TaxOnManagers>0</Sect4955TaxOnManagers>
        <ReimbursementOfTax>0</ReimbursementOfTax>
        <ActivitiesNotPrevReported>0</ActivitiesNotPrevReported>
        <ChangesToArticlesOrBylaws>0</ChangesToArticlesOrBylaws>
        <UnrelatedBusIncomeOver1000>0</UnrelatedBusIncomeOver1000>
        <TerminationEtc>0</TerminationEtc>
        <RequirementsOfSect508e>1</RequirementsOfSect508e>
        <AtLeast5000InAssets>1</AtLeast5000InAssets>
        <StatesFiledWith>MA</StatesFiledWith>
        <Form990PFFiledWithAG>1</Form990PFFiledWithAG>
        <PrivateOperatingFoundation>0</PrivateOperatingFoundation>
        <NewSubstantialContributors>0</NewSubstantialContributors>
        <InterestInControlledEntity>0</InterestInControlledEntity>
        <ApplicableInsuranceContract>0</ApplicableInsuranceContract>
        <ComplyWithPublicInspectionRqr>1</ComplyWithPublicInspectionRqr>
        <WebsiteAddress>N/A</WebsiteAddress>
        <BooksInCareOfPersonName>ROBERT LAWRENCE</BooksInCareOfPersonName>
        <BooksInCareOfPhoneNumber>6175637434</BooksInCareOfPhoneNumber>
        <BooksInCareOfUSAddress>
          <AddressLine1>284 MATTISON DRIVE</AddressLine1>
          <City>CONCORD</City>
          <State>MA</State>
          <ZIPCode>01742</ZIPCode>
        </BooksInCareOfUSAddress>
        <ForeignBank>1</ForeignBank>
        <NameOfForeignCountry>CJ</NameOfForeignCountry>
      </StatementsRegardingActivities>
      <StatementsRegardingActy4720>
        <SaleOrExchangeWithDsqflyPerson>0</SaleOrExchangeWithDsqflyPerson>
        <BorrowOrLendWithDsqflyPerson>0</BorrowOrLendWithDsqflyPerson>
        <FurnishedGoodsWithDsqflyPerson>0</FurnishedGoodsWithDsqflyPerson>
        <PayCompensationToDsqflyPerson>0</PayCompensationToDsqflyPerson>
        <TransferAssetsToDsqflyPerson>0</TransferAssetsToDsqflyPerson>
        <PaymentToGovernmentOffical>0</PaymentToGovernmentOffical>
        <UncorrectedPriorActs>0</UncorrectedPriorActs>
        <UndistributedIncomePriorYears>0</UndistributedIncomePriorYears>
        <BusinessHoldings>0</BusinessHoldings>
        <JeopardyInvestments>0</JeopardyInvestments>
        <UncorrectedJeopardyInvestments>0</UncorrectedJeopardyInvestments>
        <InfluenceLegislation>0</InfluenceLegislation>
        <InfluenceElection>0</InfluenceElection>
        <GrantsToIndividuals>0</GrantsToIndividuals>
        <GrantsToOrganizations>0</GrantsToOrganizations>
        <NoncharitablePurpose>0</NoncharitablePurpose>
        <RcvFundsToPayPrsnlBnftContract>0</RcvFundsToPayPrsnlBnftContract>
        <PayPremiumsPrsnlBnftContract>0</PayPremiumsPrsnlBnftContract>
        <ProhibitedTaxShelterTransactn>0</ProhibitedTaxShelterTransactn>
      </StatementsRegardingActy4720>
      <OfcrDirTrusteesKeyEmployeeInfo>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>ROBERT LAWRENCE</PersonName>
          <USAddress>
            <AddressLine1>284 MATTISON DRIVE</AddressLine1>
            <City>CONCORD</City>
            <State>MA</State>
            <ZIPCode>01742</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>CONNIE LAWRENCE</PersonName>
          <USAddress>
            <AddressLine1>284 MATTISON DRIVE</AddressLine1>
            <City>CONCORD</City>
            <State>MA</State>
            <ZIPCode>01742</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>KELLY LAWRENCE ANDERSON</PersonName>
          <USAddress>
            <AddressLine1>110 W 39TH ST</AddressLine1>
            <City>BALTIMORE</City>
            <State>MD</State>
            <ZIPCode>21210</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>
      <SumOfProgramRelatedInvestments>
        <Total>0</Total>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>2504822</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>640948</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>0</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>3145770</TotalFMVOfUnusedAssets>
        <ReductionClaimed>0</ReductionClaimed>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>3145770</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>47187</CashDeemedCharitable>
        <NetNoncharitableAssets>3098583</NetNoncharitableAssets>
        <MinimumInvestmentReturn>154929</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>154929</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>11094</TaxBasedOnInvestmentIncome>
        <TotalTax>11094</TotalTax>
        <DistributableAmountBeforeAdj>143835</DistributableAmountBeforeAdj>
        <RecoveriesQlfyDistributions>0</RecoveriesQlfyDistributions>
        <DistributableAmountBeforeDed>143835</DistributableAmountBeforeDed>
        <DeductionFrDistributableAmount>0</DeductionFrDistributableAmount>
        <DistributableAmountAsAdjusted>143835</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>116057</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <QualifyingDistributions>116057</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>0</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>116057</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>143835</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>0</UndistributedIncomePriorYear>
        <TotalForPriorYears>0</TotalForPriorYears>
        <ExcessDistriCarryoverYear5>67913</ExcessDistriCarryoverYear5>
        <ExcessDistriCarryoverYear4>5791</ExcessDistriCarryoverYear4>
        <ExcessDistriCarryoverYear3>17813</ExcessDistriCarryoverYear3>
        <ExcessDistriCarryoverYear2>16356</ExcessDistriCarryoverYear2>
        <ExcessDistriCarryoverYear1>135770</ExcessDistriCarryoverYear1>
        <TotalExcessDistriCarryover>243643</TotalExcessDistriCarryover>
        <QualifyingDistributions>116057</QualifyingDistributions>
        <AppliedToYear1>0</AppliedToYear1>
        <AppliedToPriorYears>0</AppliedToPriorYears>
        <TreatedAsDistriFromCorpus>0</TreatedAsDistriFromCorpus>
        <AppliedToCurrentYear>116057</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>0</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>27778</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>27778</ExcessDistriCyovAppliedCY>
        <TotalCorpus>215865</TotalCorpus>
        <PriorYearUndistributedIncome>0</PriorYearUndistributedIncome>
        <PriorYearDeficiencyOrTax>0</PriorYearDeficiencyOrTax>
        <TaxableAmount1>0</TaxableAmount1>
        <TaxableAmount2>0</TaxableAmount2>
        <UndistributedIncomeCY>0</UndistributedIncomeCY>
        <DistriFromCorpus170b1EOr4942g3>0</DistriFromCorpus170b1EOr4942g3>
        <ExcessDistriCyovFromYear5>40135</ExcessDistriCyovFromYear5>
        <ExcessDistriCyovToNextYear>175730</ExcessDistriCyovToNextYear>
        <ExcessFromYear4>5791</ExcessFromYear4>
        <ExcessFromYear3>17813</ExcessFromYear3>
        <ExcessFromYear2>16356</ExcessFromYear2>
        <ExcessFromYear1>135770</ExcessFromYear1>
      </UndistributedIncome>
      <SupplementaryInformation>
        <ContributingManager>ROBERT LAWRENCE</ContributingManager>
        <ContributingManager>CONNIE LAWRENCE</ContributingManager>
        <OnlyContributesToPreselected>X</OnlyContributesToPreselected>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LEADERSHIP TRANSFORMATIONS INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 338</AddressLine1>
            <City>LEXINGTON</City>
            <State>MA</State>
            <ZIPCode>02420</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>509(A)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL PROGRAM FUNDING</PurposeOfGrantOrContribution>
          <Amount>20000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LEXINGTON CHRISTIAN ACADEMY INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>48 BARTLETT AVENUE</AddressLine1>
            <City>LEXINGTON</City>
            <State>MA</State>
            <ZIPCode>02420</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>SCHOOL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>EDUCATION</PurposeOfGrantOrContribution>
          <Amount>23500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>YOUNG LIFE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>420 N CASCADE AVENUE</AddressLine1>
            <City>COLORADO SPRINGS</City>
            <State>CO</State>
            <ZIPCode>80903</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>CHURCH</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>RELIGIOUS</PurposeOfGrantOrContribution>
          <Amount>15000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DEVELOPMENT ASSOCIATES INTERNATIONAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 49278</AddressLine1>
            <City>COLORADO SPRINGS</City>
            <State>CO</State>
            <ZIPCode>80949</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>509(A)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL PROGRAM FUNDING</PurposeOfGrantOrContribution>
          <Amount>11500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FELLOWSHIP OF CHRISTIAN ATHLETES</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>8701 LEEDS ROAD</AddressLine1>
            <City>KANSAS CITY</City>
            <State>MO</State>
            <ZIPCode>64129</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>509(A)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL PROGRAM FUNDING</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ANTIOCH MINISTRIES INT'L</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>505 N 20TH STREET</AddressLine1>
            <City>WACO</City>
            <State>TX</State>
            <ZIPCode>76707</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>509(A)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL PROGRAM FUNDING</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>GLOBAL SERVICE NETWORK</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1775 W WILLIAMS ST 162</AddressLine1>
            <City>APEX</City>
            <State>NC</State>
            <ZIPCode>27523</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>509(A)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL PROGRAM FUNDING</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SAMARITAN'S PURSE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 3000</AddressLine1>
            <City>BOONE</City>
            <State>NC</State>
            <ZIPCode>28607</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>509(A)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL PROGRAM FUNDING</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HAGAR'S SISTERS INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 2260</AddressLine1>
            <City>ACTON</City>
            <State>MA</State>
            <ZIPCode>01720</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>509(A)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL PROGRAM FUNDING</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>113000</TotGrantOrContriPaidDuringYear>
        <TotGrantOrContriApprovedFuture>0</TotGrantOrContriApprovedFuture>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>247516</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>307185</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
          <UnrelatedBusinessIncomeAmount>0</UnrelatedBusinessIncomeAmount>
          <ExclusionAmount>554701</ExclusionAmount>
          <RelatedOrExemptFunctionIncome>0</RelatedOrExemptFunctionIncome>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>554701</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>TAX PREPARATION</Category>
        <Amount>2492</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>2492</DisbursementsCharitablePrps>
      </AccountingFees>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorpStock>
        <NameOfStock>BALLYROCK CLO III LTD SUBORDINATED SECURITIES</NameOfStock>
        <EOYBookValue>400000</EOYBookValue>
        <EOYFMV>400000</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BALLYROCK CLO 2006-1 LTD SUBORDINATED SECURITIES</NameOfStock>
        <EOYBookValue>250000</EOYBookValue>
        <EOYFMV>250000</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOther>
        <CategoryOrItem>FIDELITY FLOATING RATE HIGH YIELD FUND</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>183724</BookValue>
        <EOYFMV>183321</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>FIDELITY FOCUSED HIGH INCOME FUND</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>1740672</BookValue>
        <EOYFMV>1848436</EOYFMV>
      </InvestmentsOther>
    </InvestmentsOtherSchedule2>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreases>
        <Description>PFIC DISTRIBUTIONS IN DEFICIT OF TAXABLE INCOME-BALLYROCK CLO 2006-1</Description>
        <Amount>10913</Amount>
      </OtherDecreases>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpenses>
        <Description>MEMBERSHIP FEES</Description>
        <RevenueAndExpensesPerBooks>495</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>495</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>STATE FILING FEE</Description>
        <RevenueAndExpensesPerBooks>70</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>70</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="RetDoc2049700001">
      <OtherIncreases>
        <Description>PFIC DISTRIBUTIONS IN EXCESS OF TAXABLE INCOME-BALLYROCK CLO III</Description>
        <Amount>73978</Amount>
      </OtherIncreases>
    </OtherIncreasesSchedule>
  </ReturnData>
</Return>