﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-09-14T10:01:04-04:00</ReturnTs>
    <TaxPeriodEndDt>2025-10-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>382157642</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>MANER COSTERISAN PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>161 OTTAWA AVE NW STE 200</AddressLine1Txt>
        <CityNm>GRAND RAPIDS</CityNm>
        <StateAbbreviationCd>MI</StateAbbreviationCd>
        <ZIPCd>495032794</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-11-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>382966979</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE BUDRES FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>BUDR</BusinessNameControlTxt>
      <PhoneNum>6168311758</PhoneNum>
      <USAddress>
        <AddressLine1Txt>45 OTTAWA AVE SW STE 1100</AddressLine1Txt>
        <CityNm>GRAND RAPIDS</CityNm>
        <StateAbbreviationCd>MI</StateAbbreviationCd>
        <ZIPCd>49503</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>DIANE LYNN BUDRES</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>6168311758</PhoneNum>
      <SignatureDt>2026-07-09</SignatureDt>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>SARA A KNOPER</PreparerPersonNm>
      <PTIN>P01239131</PTIN>
      <PhoneNum>6164581835</PhoneNum>
      <PreparationDt>2026-07-09</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990PF documentId="RetDoc11" referenceDocumentId="RetDoc9">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>635332</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>996</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>996</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>13873</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>13873</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>29382</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>280868</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>29382</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>44251</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>44251</TotalNetInvstIncmAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc5">7161</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>1790</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>5371</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2">6200</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>1550</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>4650</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc7">7500</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>1875</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>5625</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc8">306</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>306</TaxesNetInvstIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>21167</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>5521</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>15646</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>25000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>25000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>46167</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>5521</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>40646</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-1916</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>38730</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>371</CashBOYAmt>
        <CashEOYAmt>291</CashEOYAmt>
        <CashEOYFMVAmt>291</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>10655</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>34179</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>34179</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>304970</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc4">289782</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>424367</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>188082</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc3">178251</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>176495</CorporateBondsEOYFMVAmt>
        <TotalAssetsBOYAmt>504078</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>502503</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>635332</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>1097795</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>1097795</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>-8259</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>-8259</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>-585458</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>-587033</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>504078</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>502503</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>504078</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>502503</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>504078</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-1916</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc6">341</OtherIncreasesAmt>
        <SubtotalAmt>502503</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>502503</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PNC SEE ATTACHED</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>37420</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>35886</CostOrOtherBasisAmt>
          <GainOrLossAmt>1534</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1534</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PNC SEE ATTACHED</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>237542</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>215600</CostOrOtherBasisAmt>
          <GainOrLossAmt>21942</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>21942</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>29382</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>1534</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>538</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>538</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>538</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>240</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>650</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>890</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1">X</Form2220AttachedInd>
        <EsPenaltyAmt>2</EsPenaltyAmt>
        <OverpaymentAmt>350</OverpaymentAmt>
        <AppliedToESTaxAmt>350</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>MI</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>PNC INSTITUTIONAL ASSET MANAGEMENT</IndividualWithBooksNm>
        <PhoneNum>6167718843</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>171 MONROE AVE NW</AddressLine1Txt>
          <CityNm>GRAND RAPIDS</CityNm>
          <StateAbbreviationCd>MI</StateAbbreviationCd>
          <ZIPCd>49503</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>DIANE LYNN BUDRES</PersonNm>
          <USAddress>
            <AddressLine1Txt>1449 8TH PLACE SOUTH</AddressLine1Txt>
            <CityNm>EDMONDS</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98020</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MICHAEL J TAYLOR</PersonNm>
          <USAddress>
            <AddressLine1Txt>45 OTTAWA AVE SW</AddressLine1Txt>
            <AddressLine2Txt>SUITE 1100</AddressLine2Txt>
            <CityNm>GRAND RAPIDS</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>49501</ZIPCd>
          </USAddress>
          <TitleTxt>VICE PRESIDE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LORI J BAKER</PersonNm>
          <USAddress>
            <AddressLine1Txt>161 OTTAWA AVE NW SUITE 200</AddressLine1Txt>
            <CityNm>GRAND RAPIDS</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>49503</ZIPCd>
          </USAddress>
          <TitleTxt>TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>RAJ A MALVIYA</PersonNm>
          <USAddress>
            <AddressLine1Txt>45 OTTAWA AVE SW</AddressLine1Txt>
            <CityNm>GRAND RAPIDS</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>49503</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>588891</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>22992</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>611883</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>611883</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>9178</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>602705</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>30135</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>30135</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>538</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>538</TotalTaxAmt>
        <DistributableBeforeAdjAmt>29597</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>29597</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>29597</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>40646</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>40646</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>29597</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>47033</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>26898</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>37802</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>11875</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>9857</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>133465</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>40646</QualifyingDistributionsAmt>
        <AppliedToCurrentYearAmt>29597</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>11049</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>144514</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>47033</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>97481</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>26898</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>37802</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>11875</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>9857</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>11049</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>NONE</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MICH STATE UNIV - DEPT OF FORESTRY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>126 NATURAL RESOURCES</AddressLine1Txt>
            <CityNm>LANSING</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48824</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATIONAL &amp; FORESTRY</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GRAND RAPIDS COMMUNITY COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>143 BOSTWICK AVE NE</AddressLine1Txt>
            <CityNm>GRAND RAPIDS</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>49503</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>25000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <RelatedOrExemptFunctionIncmAmt>996</RelatedOrExemptFunctionIncmAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <RelatedOrExemptFunctionIncmAmt>13873</RelatedOrExemptFunctionIncmAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>29382</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <RelatedOrExemptFunctionIncmAmt>44251</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>44251</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>7</LineNumberTxt>
          <RelationshipStatementTxt>INVESTMENT INCOME THAT CONTRIBUTED TO THE INCREASE OF FUNDS AVAILABLE FOR THE FOUNDATION'S EXEMPT FUNCTION OF PROVIDING SUPPORT FOR THE FORESTRY AND WATER PURIFICATION</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>8</LineNumberTxt>
          <RelationshipStatementTxt>INVESTMENT INCOME THAT CONTRIBUTED TO THE INCREASE OF FUNDS AVAILABLE FOR THE FOUNDATION'S EXEMPT FUNCTION OF PROVIDING SUPPORT FOR THE FORESTRY AND WATER PURIFICATION</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <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="RetDoc2">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>6200</Amt>
        <NetInvestmentIncomeAmt>1550</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4650</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc3">
      <InvestmentsCorporateBondsGrp>
        <BondNm>BOND INVESTMENTS</BondNm>
        <EOYBookValueAmt>178251</EOYBookValueAmt>
        <EOYFMVAmt>176495</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc4">
      <InvestmentsCorporateStockGrp>
        <StockNm>STOCK INVESTMENTS</StockNm>
        <EOYBookValueAmt>289782</EOYBookValueAmt>
        <EOYFMVAmt>424367</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LegalFeesSchedule documentId="RetDoc5">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>7161</LegalFeesAmt>
        <NetInvestmentIncomeAmt>1790</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5371</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherIncreasesSchedule documentId="RetDoc6">
      <OtherIncreasesDetail>
        <Desc>TIMING DIFFERENCES</Desc>
        <Amt>341</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc7">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>ADVISORY FEES</CategoryTxt>
        <Amt>7500</Amt>
        <NetInvestmentIncomeAmt>1875</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5625</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc8">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID</CategoryTxt>
        <Amt>146</Amt>
        <NetInvestmentIncomeAmt>146</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>160</Amt>
        <NetInvestmentIncomeAmt>160</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>