﻿<?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="2024v5.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-04-24T11:13:09-05:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>931042710</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>GEFFEN MESHER &amp; COMPANY PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>888 SW 5TH AVE SUITE 800</AddressLine1Txt>
        <CityNm>PORTLAND</CityNm>
        <StateAbbreviationCd>OR</StateAbbreviationCd>
        <ZIPCd>97204</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>936234071</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>WILLIAM H &amp; MARY L BAUMAN FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>WILL</BusinessNameControlTxt>
      <PhoneNum>5036511153</PhoneNum>
      <USAddress>
        <AddressLine1Txt>7991 SW EDGEWATER DR E</AddressLine1Txt>
        <CityNm>WILSONVILLE</CityNm>
        <StateAbbreviationCd>OR</StateAbbreviationCd>
        <ZIPCd>97070</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>PAUL SCHWINDT</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>5036511153</PhoneNum>
      <SignatureDt>2025-04-16</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>1</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>BILLY M MORGAN JR</PreparerPersonNm>
      <PTIN>P00056990</PTIN>
      <PhoneNum>5032210141</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>11002952</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>263757</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>263757</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>412604</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>1724142</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>412604</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>676361</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>676361</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>16750</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>5750</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>11000</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">6650</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>3325</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>3325</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">6356</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>3645</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>1008</TaxesDsbrsChrtblAmt>
        <TravConfMeetingRevAndExpnssAmt>814</TravConfMeetingRevAndExpnssAmt>
        <TravConfMeetingNetInvstIncmAmt>0</TravConfMeetingNetInvstIncmAmt>
        <TravConfMeetingDsbrsChrtblAmt>814</TravConfMeetingDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">100860</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>100860</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>0</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>131430</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>113580</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>16147</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>600000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>600000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>731430</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>113580</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>616147</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-55069</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>562781</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>52574</CashBOYAmt>
        <CashEOYAmt>45649</CashEOYAmt>
        <CashEOYFMVAmt>45649</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>676818</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>270061</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>270061</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>7301232</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">7659845</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>10585641</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>52500</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc2044400001">52500</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>101601</CorporateBondsEOYFMVAmt>
        <TotalAssetsBOYAmt>8083124</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>8028055</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>11002952</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>4207108</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>4207108</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>3876016</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>3820947</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>8083124</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>8028055</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>8083124</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>8028055</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>8083124</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-55069</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>8028055</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>8028055</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1500 SHARES BOSTON SCIENTIFIC CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2010-05-19</AcquiredDt>
          <SoldDt>2024-08-16</SoldDt>
          <GrossSalesPriceAmt>116697</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>10061</CostOrOtherBasisAmt>
          <GainOrLossAmt>106636</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>106636</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>750 SHARES GE AEROSPACE</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2010-01-21</AcquiredDt>
          <SoldDt>2024-03-25</SoldDt>
          <GrossSalesPriceAmt>130953</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>80549</CostOrOtherBasisAmt>
          <GainOrLossAmt>50404</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>50404</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>750 SHARES GE VERNOVA LLC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-02-14</AcquiredDt>
          <SoldDt>2024-05-03</SoldDt>
          <GrossSalesPriceAmt>122422</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>59666</CostOrOtherBasisAmt>
          <GainOrLossAmt>62756</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>62756</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>5000 SHARES GENERAL MOTORS CO</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2003-07-30</AcquiredDt>
          <SoldDt>2024-11-20</SoldDt>
          <GrossSalesPriceAmt>274864</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>316654</CostOrOtherBasisAmt>
          <GainOrLossAmt>-41790</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-41790</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>10,000 SHARES LYFT INC CLASS A</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2023-11-27</AcquiredDt>
          <SoldDt>2024-02-15</SoldDt>
          <GrossSalesPriceAmt>179005</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>101993</CostOrOtherBasisAmt>
          <GainOrLossAmt>77012</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>77012</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1000 SHARES MICRON TECHNOLOGY INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2016-07-25</AcquiredDt>
          <SoldDt>2024-03-25</SoldDt>
          <GrossSalesPriceAmt>116442</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>14150</CostOrOtherBasisAmt>
          <GainOrLossAmt>102292</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>102292</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>10,000 SHARES PETROLEO BRASILEIRO</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-11-07</AcquiredDt>
          <SoldDt>2024-03-05</SoldDt>
          <GrossSalesPriceAmt>149326</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>118600</CostOrOtherBasisAmt>
          <GainOrLossAmt>30726</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>30726</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>10,000 SHARES TEVA PHARMACEUTICAL IND</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-09-27</AcquiredDt>
          <SoldDt>2024-08-16</SoldDt>
          <GrossSalesPriceAmt>181797</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>229922</CostOrOtherBasisAmt>
          <GainOrLossAmt>-48125</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-48125</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>5000 SHARES TEVA PHARMACEUTICAL IND</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-01-08</AcquiredDt>
          <SoldDt>2024-12-17</SoldDt>
          <GrossSalesPriceAmt>104199</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>96074</CostOrOtherBasisAmt>
          <GainOrLossAmt>8125</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>8125</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2000 SHARES UNITED AIRLINES HOLDINGS INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-06-24</AcquiredDt>
          <SoldDt>2024-10-16</SoldDt>
          <GrossSalesPriceAmt>142622</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>85500</CostOrOtherBasisAmt>
          <GainOrLossAmt>57122</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>57122</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1000 SHARES UNITED AIRLINES HOLDINGS INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-06-24</AcquiredDt>
          <SoldDt>2024-11-15</SoldDt>
          <GrossSalesPriceAmt>92058</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>42750</CostOrOtherBasisAmt>
          <GainOrLossAmt>49308</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>49308</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>12,000 SHARES VODAFONE GROUP PLC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-04-28</AcquiredDt>
          <SoldDt>2024-11-05</SoldDt>
          <GrossSalesPriceAmt>113757</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>155619</CostOrOtherBasisAmt>
          <GainOrLossAmt>-41862</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-41862</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>412604</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>7823</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>7823</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>7823</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>4800</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>4800</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <TaxDueAmt>3023</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>OR</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>PAUL SCHWINDT</IndividualWithBooksNm>
        <PhoneNum>5036511153</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>7991 SW EDGEWATER DR E</AddressLine1Txt>
          <CityNm>WILSONVILLE</CityNm>
          <StateAbbreviationCd>OR</StateAbbreviationCd>
          <ZIPCd>97070</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>1</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>0</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>BILL VERMILLION</PersonNm>
          <USAddress>
            <AddressLine1Txt>7991 SW EDGEWATER DRIVE E</AddressLine1Txt>
            <CityNm>WILSONVILLE</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97070</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>2000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>PAUL SCHWINDT</PersonNm>
          <USAddress>
            <AddressLine1Txt>7991 SW EDGEWATER DRIVE E</AddressLine1Txt>
            <CityNm>WILSONVILLE</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97070</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>10750</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ROD VERMILLION</PersonNm>
          <USAddress>
            <AddressLine1Txt>7991 SW EDGEWATER DRIVE E</AddressLine1Txt>
            <CityNm>WILSONVILLE</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97070</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>2000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JULIETTA BAUMAN FRERES</PersonNm>
          <USAddress>
            <AddressLine1Txt>7991 SW EDGEWATER DRIVE E</AddressLine1Txt>
            <CityNm>WILSONVILLE</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97070</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>2000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>10175002</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>665228</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>10840230</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>10840230</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>162603</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>10677627</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>533881</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>533881</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>7823</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>7823</TotalTaxAmt>
        <DistributableBeforeAdjAmt>526058</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>526058</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>526058</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>616147</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>616147</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>526058</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>104858</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>181530</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>118674</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>156922</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>176787</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>738771</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>616147</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>526058</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>90089</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>828860</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>104858</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>724002</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>181530</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>118674</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>156922</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>176787</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>90089</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CHILDRENS CENTER OF CLACKAMAS COUNTY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1713 PENN LANE</AddressLine1Txt>
            <CityNm>OREGON CITY</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97045</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 501(C)(3), I</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PROGRAM FUNDING</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>DOUGY CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 86852</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97286</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>509(A)(1) &amp; 170(B)(1</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CONTINUED MINISTRY FOR GRIEVING CHILDREN</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GEORGE FOX UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>414 N MERIDIAN STREET</AddressLine1Txt>
            <CityNm>NEWBERG</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97132</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 170(B)(1)(A)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>STUDENT CENTER BUILDING PROGRAM &amp; STUDENT SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>150000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GERMAN AMERICAN SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 5283</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97208</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 501(C)(3), I</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PROGRAM FUNDING</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>HOPE VILLAGE FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1535 S IVY</AddressLine1Txt>
            <CityNm>CANBY</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97013</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 170(B)(1)(A)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PROGRAM FUNDING</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NURSING HOME MINISTRIES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 22246</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97269</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 501(C)(3), I</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PROGRAM FUNDING</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>OHSU CENTER FOR WOMENS HEALTH</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1121 SW SALMON 100</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97205</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 509(A)(2), I</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PROGRAM FUNDING</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ONE MISSION SOCIETY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX A</AddressLine1Txt>
            <CityNm>GREENWOOD</CityNm>
            <StateAbbreviationCd>IN</StateAbbreviationCd>
            <ZIPCd>46142</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 170(B)(1)(A)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PROGRAM FUNDING</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>OREGON DOG RESCUE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>6700 NYBERG STREET</AddressLine1Txt>
            <CityNm>TUALATIN</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97062</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 501(C)(3), I</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PROGRAM FUNDING</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PACIFIC CONFERENCE OF EVANGELICAL CHURCH NA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>11501 SE SUNNYSIDE RD</AddressLine1Txt>
            <CityNm>CLACKAMAS</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97015</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 170(B)(1)(A)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOOL OF MINISTRY GENERAL FUNDING</GrantOrContributionPurposeTxt>
          <Amt>145000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PORTLAND OPP INDUSTRIAL CENTER INC DBA ROSEMARY ANDERSON HIGH SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>717 N KILLINGSWORTH CT</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97217</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 501(C)(3), I</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CLYDE BRUAL MEMORIAL FUND</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PORTLAND SEMINARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>12753 SW 68TH AVE</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97223</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 170(B)(1)(A)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SEMINARY TRAINING</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SALVATION ARMY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>8495 SE MONTEREY AVE</AddressLine1Txt>
            <CityNm>HAPPY VALLEY</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97086</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 501(C)(3), I</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>BATTERED WOMEN CONTINUED EFFORTS</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TRILLIUM FAMILY SERVICES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3415 SE POWELL BLVD</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97202</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 501(C)(3), I</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>YOUTH PROGRAMS &amp; GENERAL PROGRAM FUNDING</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>WARNER PACIFIC COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2219 SE 68TH AVE</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97215</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>SECTION 170(B)(1)(A)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>STUDENT SCHOLARSHIPS AND ACADEMIC PROGRAMS</GrantOrContributionPurposeTxt>
          <Amt>60000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>600000</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>263757</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>412604</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>676361</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>676361</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>GEFFEN MESHER &amp; CO, PC</CategoryTxt>
        <Amt>6650</Amt>
        <NetInvestmentIncomeAmt>3325</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3325</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorporateBondsGrp>
        <BondNm>BURLINGTON NTHN 3.2% 1/1/45</BondNm>
        <EOYBookValueAmt>52500</EOYBookValueAmt>
        <EOYFMVAmt>101601</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>ALIBABA GROUP HOLDING</StockNm>
        <EOYBookValueAmt>582133</EOYBookValueAmt>
        <EOYFMVAmt>423950</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ALPHABET INC</StockNm>
        <EOYBookValueAmt>321081</EOYBookValueAmt>
        <EOYFMVAmt>571320</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AMAZON.COM</StockNm>
        <EOYBookValueAmt>423446</EOYBookValueAmt>
        <EOYFMVAmt>658170</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AMERICAN AIRLINES</StockNm>
        <EOYBookValueAmt>302225</EOYBookValueAmt>
        <EOYFMVAmt>348600</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>APPLE INC</StockNm>
        <EOYBookValueAmt>80300</EOYBookValueAmt>
        <EOYFMVAmt>500840</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AT&amp;T INC</StockNm>
        <EOYBookValueAmt>368659</EOYBookValueAmt>
        <EOYFMVAmt>455400</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BIOLOG INC</StockNm>
        <EOYBookValueAmt>500</EOYBookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BOSTON SCIENTIFIC CORP</StockNm>
        <EOYBookValueAmt>40242</EOYBookValueAmt>
        <EOYFMVAmt>535920</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BRISTOL MYERS SQUIBB CO</StockNm>
        <EOYBookValueAmt>183024</EOYBookValueAmt>
        <EOYFMVAmt>169680</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CHEVRON CORPORATION</StockNm>
        <EOYBookValueAmt>287323</EOYBookValueAmt>
        <EOYFMVAmt>289680</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CHUBB</StockNm>
        <EOYBookValueAmt>140905</EOYBookValueAmt>
        <EOYFMVAmt>276300</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CITIGROUP</StockNm>
        <EOYBookValueAmt>237704</EOYBookValueAmt>
        <EOYFMVAmt>351950</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>COTERRA ENERGY</StockNm>
        <EOYBookValueAmt>291602</EOYBookValueAmt>
        <EOYFMVAmt>306480</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DELTA AIR LINES</StockNm>
        <EOYBookValueAmt>225104</EOYBookValueAmt>
        <EOYFMVAmt>302500</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GE HEALTHCARE TECH</StockNm>
        <EOYBookValueAmt>97200</EOYBookValueAmt>
        <EOYFMVAmt>97725</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GENERAL MOTORS COMPANY</StockNm>
        <EOYBookValueAmt>153533</EOYBookValueAmt>
        <EOYFMVAmt>266350</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GSK PLC</StockNm>
        <EOYBookValueAmt>357811</EOYBookValueAmt>
        <EOYFMVAmt>338200</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>KEYCORP NEW</StockNm>
        <EOYBookValueAmt>103950</EOYBookValueAmt>
        <EOYFMVAmt>119980</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MERCK &amp; CO INC</StockNm>
        <EOYBookValueAmt>364783</EOYBookValueAmt>
        <EOYFMVAmt>497400</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MICRON TECHNOLOGY INC</StockNm>
        <EOYBookValueAmt>109110</EOYBookValueAmt>
        <EOYFMVAmt>336640</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PFIZER INC</StockNm>
        <EOYBookValueAmt>367625</EOYBookValueAmt>
        <EOYFMVAmt>397950</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>QUALCOMM INC</StockNm>
        <EOYBookValueAmt>120747</EOYBookValueAmt>
        <EOYFMVAmt>153620</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SHELL</StockNm>
        <EOYBookValueAmt>178946</EOYBookValueAmt>
        <EOYFMVAmt>313250</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TEVA PHARMACEUTICAL</StockNm>
        <EOYBookValueAmt>151343</EOYBookValueAmt>
        <EOYFMVAmt>330600</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TOTALENERGIES SE</StockNm>
        <EOYBookValueAmt>181718</EOYBookValueAmt>
        <EOYFMVAmt>218000</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>UNITED AIRLINES HOLDINGS</StockNm>
        <EOYBookValueAmt>172340</EOYBookValueAmt>
        <EOYFMVAmt>388400</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>USBANCORP</StockNm>
        <EOYBookValueAmt>178500</EOYBookValueAmt>
        <EOYFMVAmt>239150</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VERIZON COMMUNICATIONS</StockNm>
        <EOYBookValueAmt>498969</EOYBookValueAmt>
        <EOYFMVAmt>399900</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WESTERN DIGITAL CORP</StockNm>
        <EOYBookValueAmt>115432</EOYBookValueAmt>
        <EOYFMVAmt>178890</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ADOBE INC</StockNm>
        <EOYBookValueAmt>95746</EOYBookValueAmt>
        <EOYFMVAmt>88936</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BP PLC</StockNm>
        <EOYBookValueAmt>137440</EOYBookValueAmt>
        <EOYFMVAmt>118240</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MICROSOFT CORP</StockNm>
        <EOYBookValueAmt>206231</EOYBookValueAmt>
        <EOYFMVAmt>210750</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GE AEROSPACE</StockNm>
        <EOYBookValueAmt>228324</EOYBookValueAmt>
        <EOYFMVAmt>500370</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INTEL CORP</StockNm>
        <EOYBookValueAmt>355849</EOYBookValueAmt>
        <EOYFMVAmt>200500</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT ACCOUNT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>100860</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>100860</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>STATE FILING FEE</CategoryTxt>
        <Amt>1008</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1008</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID ON DIVIDENDS</CategoryTxt>
        <Amt>3645</Amt>
        <NetInvestmentIncomeAmt>3645</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL ESTIMATED TAX DEPOSIT 2024</CategoryTxt>
        <Amt>1703</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>