﻿<?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="2024v5.2">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-08-07T10:07:17-05:00</ReturnTs>
    <TaxPeriodEndDt>2025-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>521352085</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>JL KENNEALLY &amp; COMPANY PA</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>660 KENILWORTH DR STE 104</AddressLine1Txt>
        <CityNm>TOWSON</CityNm>
        <StateAbbreviationCd>MD</StateAbbreviationCd>
        <ZIPCd>212042353</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>521862839</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>STANFORD C REED SCHOLARSHIPS INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>STAN</BusinessNameControlTxt>
      <PhoneNum>4104587175</PhoneNum>
      <USAddress>
        <AddressLine1Txt>52 OLD GRANARY COURT</AddressLine1Txt>
        <CityNm>CATONSVILLE</CityNm>
        <StateAbbreviationCd>MD</StateAbbreviationCd>
        <ZIPCd>21228</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>HARRY MCCRORY</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>4104587175</PhoneNum>
      <SignatureDt>2025-08-07</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>1</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>FRANCES B ALLMAN CPA</PreparerPersonNm>
      <PTIN>P00388033</PTIN>
      <PhoneNum>4103219558</PhoneNum>
      <PreparationDt>2025-08-07</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="7">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2568743</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>1</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>1</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>79292</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>79292</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>-452</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>186415</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>0</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>78841</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>79293</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">3375</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>1687</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>1688</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">1020</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>0</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">1039</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>0</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>0</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>5434</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>1687</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>1688</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>201500</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>201500</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>206934</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>1687</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>203188</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-128093</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>77606</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>4353</CashBOYAmt>
        <CashEOYAmt>6271</CashEOYAmt>
        <CashEOYFMVAmt>6271</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>451042</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>896805</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>870293</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>482846</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt>0</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>0</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>1034805</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">935030</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>1595127</CorporateStockEOYFMVAmt>
        <OtherInvestmentsBOYAmt>75000</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">75000</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>90000</OtherInvestmentsEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc2046600001">205</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc2046600001">7052</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc2046600001">7052</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>2048251</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>1920158</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2568743</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>2048251</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>1920158</NoDonorRstrNetAssestsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>2048251</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>1920158</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>2048251</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1920158</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>2048251</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-128093</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>1920158</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>1920158</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>UNH 100 SHARES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>49729</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>51136</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1407</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1407</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>APPLE 200 SHARES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>39248</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>36670</CostOrOtherBasisAmt>
          <GainOrLossAmt>2578</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>2578</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>COMCAST 200 SHARES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>6828</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>8997</CostOrOtherBasisAmt>
          <GainOrLossAmt>-2169</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-2169</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>COLGATE 100 SHARES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>8996</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>6237</CostOrOtherBasisAmt>
          <GainOrLossAmt>2759</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>2759</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>T R PRICE 300 SHARES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>27987</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>28978</CostOrOtherBasisAmt>
          <GainOrLossAmt>-991</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-991</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PPG</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>21931</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>21080</CostOrOtherBasisAmt>
          <GainOrLossAmt>851</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>851</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>TARGET</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>18870</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>21954</CostOrOtherBasisAmt>
          <GainOrLossAmt>-3084</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-3084</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PEPSICO</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>12826</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>11815</CostOrOtherBasisAmt>
          <GainOrLossAmt>1011</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1011</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>-452</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>1079</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>1079</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>1079</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>126</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>126</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <TaxDueAmt>953</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>MD</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>HARRY MCCRORY</IndividualWithBooksNm>
        <PhoneNum>4104587175</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>52 OLD GRANARY COURT</AddressLine1Txt>
          <CityNm>CATONSVILLE</CityNm>
          <StateAbbreviationCd>MD</StateAbbreviationCd>
          <ZIPCd>212285366</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <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>MR HARRY T MCCRORY</PersonNm>
          <USAddress>
            <AddressLine1Txt>52 OLD GRANARY COURT</AddressLine1Txt>
            <CityNm>CATONSVILLE</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21228</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT/TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>7.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MR DONALD L METTEE</PersonNm>
          <USAddress>
            <AddressLine1Txt>5928 FOXHALL MANOR DR</AddressLine1Txt>
            <CityNm>BALTIMORE</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21228</ZIPCd>
          </USAddress>
          <TitleTxt>VICE PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MR MICHAEL TKACIK</PersonNm>
          <USAddress>
            <AddressLine1Txt>115 COUNTY ROAD 252</AddressLine1Txt>
            <CityNm>NACOGDOCHES</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75961</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MR ROBERT J KRASTEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>140 HOLLY CIRCLE</AddressLine1Txt>
            <CityNm>BALTIMORE</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21221</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MR ARTHUR JOHNSON</PersonNm>
          <USAddress>
            <AddressLine1Txt>715 MAIDEN CHOICE LANE</AddressLine1Txt>
            <CityNm>BALTIMORE</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21228</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</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>2405565</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>149030</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2554595</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2554595</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>38319</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2516276</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>125814</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>125814</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>1079</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>1079</TotalTaxAmt>
        <DistributableBeforeAdjAmt>124735</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>124735</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>124735</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>203188</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>203188</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>124735</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr4Amt>68781</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>317054</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>65544</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>160440</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>611819</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>203188</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>124735</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>78453</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>690272</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>690272</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>68781</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>317054</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>65544</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>160440</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>78453</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UMBC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1000 HILLTOP CIRCLE</AddressLine1Txt>
            <CityNm>BALTIMORE</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21250</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>UNIVERSITY - PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>FUNDS FOR SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>198000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MORGAN STATE UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1700 EAST COLD SPRING LANE</AddressLine1Txt>
            <CityNm>BALTIMORE</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21251</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>UNIVERSITY - PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TUITION, BOOKS AND SUPPLIES</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>E C M</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>P O BOX 31875</AddressLine1Txt>
            <CityNm>CHARLESTON</CityNm>
            <StateAbbreviationCd>SC</StateAbbreviationCd>
            <ZIPCd>29417</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUPPORT FOR ENGAGING CREATIVE MINDS</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>201500</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>1</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>79292</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>01</ExclusionCd>
          <ExclusionAmt>-452</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>78841</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>78841</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>ACCOUNTING</CategoryTxt>
        <Amt>3375</Amt>
        <NetInvestmentIncomeAmt>1687</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1688</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>CORPORATE STOCK</StockNm>
        <EOYBookValueAmt>935030</EOYBookValueAmt>
        <EOYFMVAmt>1595127</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MUTUAL FUNDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>75000</BookValueAmt>
        <EOYFMVAmt>90000</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssetsScheduleGrp>
        <Desc>ACCRUED INTEREST</Desc>
        <BOYBookValueAmt>205</BOYBookValueAmt>
        <EOYBookValueAmt>7052</EOYBookValueAmt>
        <EOYFMVAmt>7052</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>ADMINISTRATION EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>1030</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>9</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>INVESTMENT INCOME TAX</CategoryTxt>
        <Amt>138</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>882</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>