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          <RecipientBusinessName>
            <BusinessNameLine1Txt>WOMEN VENTURE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2021 EAST HENNEPIN AVE</AddressLine1Txt>
            <AddressLine2Txt>SUITE 200</AddressLine2Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55413</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>ENTREPRENEURSHIP</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>KEYSTONE COMMUNITY SERVICES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2000 ST ANTHONY AVENUE</AddressLine1Txt>
            <CityNm>ST PAUL</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55104</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>COMMUNITY</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NEIGHBORHOOD DEVELOPMENT CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>663 UNIVERSITY AVE WEST</AddressLine1Txt>
            <CityNm>ST PAUL</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55104</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>ENTREPRENEURSHIP</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NORTHERN STAR SCOUTING</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>6202 BLOOMINGTON ROAD</AddressLine1Txt>
            <CityNm>FORT SNELLING</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55111</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PINK CLOUD FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>13667 WILLOW STREET</AddressLine1Txt>
            <AddressLine2Txt>310</AddressLine2Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55403</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>COMMUNITY</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SECOND HARVEST HEARTLAND</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>7101 WINNETKA AVE NORTH</AddressLine1Txt>
            <CityNm>BROOKLYN PARK</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55428</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>COMMUNITY</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE FAMILY PARTNERSHIP</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>414 SOUTH 8TH STREET</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55404</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>COMMUNITY</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE SANNEH FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2090 CONWAY STREET</AddressLine1Txt>
            <CityNm>ST PAUL</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55119</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>COMMUNITY</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SMALL SUMS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2375 UNIVERSITY AVE WEST</AddressLine1Txt>
            <AddressLine2Txt>SUITE 150</AddressLine2Txt>
            <CityNm>ST PAUL</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55114</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>COMMUNITY</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>DUCKS UNLIMITED</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>C/O JOHN MARKS</AddressLine1Txt>
            <AddressLine2Txt>2104 E 43RD ST</AddressLine2Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55407</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>ENVIRONMENT</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PHEASANTS FOREVER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1783 BUERKLE CIRCLE</AddressLine1Txt>
            <CityNm>ST PAUL</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55110</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>ENVIRONMENT</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MAC ADMINS FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>4326 DEER SPRING ROAD</AddressLine1Txt>
            <CityNm>MIDDLETOWN</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21769</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>ENTREPRENEURSHIP</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNIVERSITY OF MINNESOTA FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 860266</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55486</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE ACREAGE AT OSCEOLA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2585 WI 35</AddressLine1Txt>
            <CityNm>OSCEOLA</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54020</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>ARTS EDUCATION ENVIRONMENT</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>519000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>202600</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>854419</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>854419</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>ORDINARY LOSS PTP</Desc>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>-16038</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>1040981</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>854419</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>1895400</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc1">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>7512</Amt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <GainLossSaleOtherAssetsSch documentId="RetDoc2">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>PUBLICALLY TRADED SECURITIES</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>1443917</GrossSalesPriceAmt>
        <BasisAmt>589498</BasisAmt>
        <TotalNetAmt>854419</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpBondsSchedule documentId="RetDoc3">
      <InvestmentsCorporateBondsGrp>
        <BondNm>SEE ATTACHED</BondNm>
        <EOYBookValueAmt>448073</EOYBookValueAmt>
        <EOYFMVAmt>448073</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc4">
      <InvestmentsCorporateStockGrp>
        <StockNm>SEE ATTACHED</StockNm>
        <EOYBookValueAmt>6238687</EOYBookValueAmt>
        <EOYFMVAmt>6238687</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc5">
      <USGovtObligationsBookVlEOYAmt>309909</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>309909</USGovtObligationsEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="RetDoc6">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>NOTE RECEIVABLE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>40000</BookValueAmt>
        <EOYFMVAmt>40000</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherDecreasesSchedule documentId="RetDoc7">
      <OtherDecreasesDetail>
        <Desc>UNREALIZED GAINS AND ADJ TO PP COST BASIS</Desc>
        <Amt>1294280</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc8">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE</Desc>
        <RevenueAndExpensesPerBooksAmt>1381</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc9">
      <OtherIncomeDetail>
        <Desc>ORDINARY LOSS PTP</Desc>
        <RevenueAndExpensesPerBooksAmt>-16038</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="RetDoc10">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT MANAGEMENT</CategoryTxt>
        <Amt>6149</Amt>
        <NetInvestmentIncomeAmt>6149</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>MANAGMENT FEES</CategoryTxt>
        <Amt>81767</Amt>
        <DisbursementsCharitablePrpsAmt>45000</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc11">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAX PAID ON INVESTMENTS</CategoryTxt>
        <Amt>1479</Amt>
        <NetInvestmentIncomeAmt>1479</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>