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          <USAddress>
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            <State>TX</State>
            <ZIPCode>76022</ZIPCode>
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          <USAddress>
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          <PersonName referenceDocumentId="RetDoc5">JOHN ADAMS JR</PersonName>
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        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
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        <Description1>THE JOHN AND PATRICIA ADAMS FOUNDATION, A TAX-EXEMPT FOUNDATION, WAS ORGANIZED AND OPERATES TO PROMOTE THE AVAILABILITY OF HIGHER EDUCATION BY PROVIDING FUNDS AND SUPERVISION OF CLASSROOM EXPANSION AT INSTITUTIONS OF HIGHER LEARNING.</Description1>
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            <State>CO</State>
            <ZIPCode>80487</ZIPCode>
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        <DeductionForPriorYears>6258</DeductionForPriorYears>
        <AmortizationPeriod>15.0000</AmortizationPeriod>
        <CurrentYearAmortization>1832</CurrentYearAmortization>
        <NetInvestmentIncome>1703</NetInvestmentIncome>
        <AdjustedNetIncome>128</AdjustedNetIncome>
        <TotalAmountOfAmortization>8090</TotalAmountOfAmortization>
      </Amortization>
    </AmortizationSchedule>
    <CompensationExplanation documentId="RetDoc5">
      <Compensation>
        <PersonName>JOHN ADAMS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>PATRICIA ADAMS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>JOHN ADAMS JR</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>LARY SNODGRASS</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>SAM P BURFORD JR</PersonName>
      </Compensation>
    </CompensationExplanation>
    <InvestmentsCorpStockSchedule documentId="RetDoc6">
      <InvestmentsCorpStock>
        <NameOfStock>MUTUAL FUNDS - MERRILL LYNCH</NameOfStock>
        <EOYBookValue>5102939</EOYBookValue>
        <EOYFMV>5356308</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <LandEtcSchedule2 documentId="RetDoc7">
      <LandEtc>
        <CategoryOrItem>ACCUMULATED DEPRECIATION</CategoryOrItem>
        <CostOrOtherBasis>27475</CostOrOtherBasis>
        <AccumulatedDepreciation>8090</AccumulatedDepreciation>
        <BookValue>19385</BookValue>
      </LandEtc>
    </LandEtcSchedule2>
    <OtherExpensesSchedule documentId="RetDoc8">
      <OtherExpenses>
        <Description>EXPENSES</Description>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INVESTMENT MANAGEMENT FEES</Description>
        <RevenueAndExpensesPerBooks>52277</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>26417</NetInvestmentIncome>
        <AdjustedNetIncome>25860</AdjustedNetIncome>
      </OtherExpenses>
      <OtherExpenses>
        <Description>OFFICE EXPENSES</Description>
        <RevenueAndExpensesPerBooks>5443</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>2004</NetInvestmentIncome>
        <AdjustedNetIncome>174</AdjustedNetIncome>
        <DisbursementsCharitablePrps>3265</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc9">
      <OtherProfessionalFees>
        <Category>ACCTING, LEGAL, &amp; CONSULTING</Category>
        <Amount>7585</Amount>
        <NetInvestmentIncome>2792</NetInvestmentIncome>
        <AdjustedNetIncome>243</AdjustedNetIncome>
        <DisbursementsCharitablePrps>4552</DisbursementsCharitablePrps>
      </OtherProfessionalFees>
    </OtherProfessionalFeesSchedule>
  </ReturnData>
</Return>