<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xsi:schemaLocation="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2022v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-05-15T15:14:11-05:00</ReturnTs>
    <TaxPeriodEndDt>2023-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>ERNST &amp; YOUNG US LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>ONE MANHATTAN WEST</AddressLine1Txt>
        <CityNm>NEW YORK</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>100018604</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2022-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>137103239</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>The Thomas &amp; Janet Montag Family Foundation</BusinessNameLine1Txt>
      </BusinessName>
      <InCareOfNm>% GOLDMAN SACHS</InCareOfNm>
      <BusinessNameControlTxt>THOM</BusinessNameControlTxt>
      <PhoneNum>2129025628</PhoneNum>
      <USAddress>
        <AddressLine1Txt>P O Box 73 Bowling Green Station</AddressLine1Txt>
        <CityNm>New York</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>102740073</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>THOMAS MONTAG</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>2127733000</PhoneNum>
      <SignatureDt>2024-05-15</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>THOMAS</PersonFirstNm>
        <PersonLastNm>MONTAG</PersonLastNm>
      </PersonFullName>
      <SSN>999009999</SSN>
    </SigningOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>christine w Diionna</PreparerPersonNm>
      <PTIN>P00999533</PTIN>
      <PhoneNum>2127733000</PhoneNum>
      <PreparationDt>2024-05-15</PreparationDt>
    </PreparerPersonGrp>
    <AdditionalFilerInformation>
      <TrustedCustomerGrp>
        <TrustedCustomerCd>3</TrustedCustomerCd>
      </TrustedCustomerGrp>
    </AdditionalFilerInformation>
    <TaxYr>2022</TaxYr>
    <BuildTS>2023-04-26 12:10:37Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="13">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>32620605</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>0</ContriRcvdRevAndExpnssAmt>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>15753</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>15753</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>745710</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>745710</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>580263</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>3038608</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>580263</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSch2">37469</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>37469</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>1379195</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>1379195</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSch">17000</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>8500</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>0</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>8500</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OthProfFeesSch">62406</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>62406</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">30000</TaxesRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSch">750</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesDsbrsChrtblAmt>750</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>110156</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>70906</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>0</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>9250</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>1664099</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>1664099</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>1774255</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>70906</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>0</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>1673349</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-395060</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>1308289</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>486416</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>949974</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>949974</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>13481941</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestCorpStockSch">13530368</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>20717602</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>4329555</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="InvestCorpBondsSch">4432740</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>4074734</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>6745429</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvOtherSch2">6391332</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>6878295</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>25043341</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>25304414</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>32620605</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>25043345</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>25304414</CapitalStockEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>25043345</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>25304414</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>25043345</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>25304414</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>25043345</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-395060</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="OtherIncreasesSch">656129</OtherIncreasesAmt>
        <SubtotalAmt>25304414</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>25304414</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PUBLICLY TRADED SECURITIES</PropertyDesc>
          <GrossSalesPriceAmt>1641618</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1458345</CostOrOtherBasisAmt>
          <GainOrLossAmt>183273</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>183273</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>GAIN - CROSS OCEAN USSS FUND II CAYMAN</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>51748</GrossSalesPriceAmt>
          <GainOrLossAmt>51748</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>51748</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>GAIN - CROSS OCEAN USSS FUND I CAYMAN</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>23413</GrossSalesPriceAmt>
          <GainOrLossAmt>23413</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>23413</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>GAIN - EISLER CAPITAL FUND LTD</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>1026874</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1000000</CostOrOtherBasisAmt>
          <GainOrLossAmt>26874</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>26874</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>580263</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>18185</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>18185</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>18185</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>4813</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>60000</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>64813</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="IRS2220">X</Form2220AttachedInd>
        <EsPenaltyAmt>548</EsPenaltyAmt>
        <OverpaymentAmt>46080</OverpaymentAmt>
        <AppliedToESTaxAmt>46080</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd referenceDocumentId="BinaryAttach BinaryAttachN1 BinaryAttachN2 BinaryAttachN3 BinaryAttachN4 BinaryAttachN5">false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd referenceDocumentId="BinaryAttach BinaryAttachN1 BinaryAttachN2 BinaryAttachN3 BinaryAttachN4 BinaryAttachN5">false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd referenceDocumentId="BinaryAttach BinaryAttachN1 BinaryAttachN2 BinaryAttachN3 BinaryAttachN4 BinaryAttachN5">false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>NY</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>NONE</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>GOLDMAN SACHS</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>2127733000</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>200 WEST STREET</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10282</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>JANET M MONTAG</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 73</AddressLine1Txt>
            <AddressLine2Txt>BOWLING GREEN STATION</AddressLine2Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>102740073</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName referenceDocumentId="ContractCompenExpln">
            <BusinessNameLine1Txt>GOLDMAN SACHS &amp; CO LLC</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>127 E 73RD STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10021</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVEST MANAGEMENT</ServiceTypeTxt>
          <CompensationAmt>62406</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>NONE</Description1Txt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>NONE</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>25046174</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>422685</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>6065423</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>31534282</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>31534282</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>473014</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>31061268</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>1553063</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>1553063</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>18185</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>18185</TotalTaxAmt>
        <DistributableBeforeAdjAmt>1534878</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>1534878</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>1534878</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>1673349</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>1673349</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>1534878</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2020</PriorYear1Yr>
        <PriorYear2Yr>2019</PriorYear2Yr>
        <PriorYear3Yr>2018</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr3Amt>2543935</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr1Amt>228835</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>2772770</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>1673349</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>1534878</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>138471</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>2911241</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>2911241</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear3Amt>2543935</ExcessFromYear3Amt>
        <ExcessFromYear1Amt>228835</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>138471</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp></PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>JANET M MONTAG</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SEE ATTACHED LIST</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>SEE ATTACHED SCHEDULE</AddressLine1Txt>
            <CityNm>SEE ATTACHED SCHEDULE</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>00000</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL PURPOSE</GrantOrContributionPurposeTxt>
          <Amt>996650</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SEE ATTACHED LIST</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>633 CLARK ST</AddressLine1Txt>
            <CityNm>Evanston</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>602080001</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Purpose</GrantOrContributionPurposeTxt>
          <Amt>667449</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>1664099</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>15753</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>745710</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>01</ExclusionCd>
          <ExclusionAmt>37469</ExclusionAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>580263</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>1379195</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>1379195</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="AccountingFeesSch">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>17000</Amt>
        <NetInvestmentIncomeAmt>8500</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>8500</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <AllOthProgRltdInvestmentsSch documentId="AllOthProgInvSch">
      <AllOtherProgramRelatedInvstGrp>
        <Desc>NONE</Desc>
      </AllOtherProgramRelatedInvstGrp>
    </AllOthProgRltdInvestmentsSch>
    <ContractorCompensationExpln documentId="ContractCompenExpln">
      <ContractorCompExplnGrp>
        <ContractorPersonNm>GOLDMAN SACHS CO LLC</ContractorPersonNm>
        <ExplanationTxt>PROVIDE INVESTMENT MANAGEMENT SERVICES</ExplanationTxt>
      </ContractorCompExplnGrp>
    </ContractorCompensationExpln>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorporateBondsGrp>
        <BondNm>LONG POSITION I</BondNm>
        <EOYBookValueAmt>1058295</EOYBookValueAmt>
        <EOYFMVAmt>975245</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>LONG POSITION II</BondNm>
        <EOYBookValueAmt>3374445</EOYBookValueAmt>
        <EOYFMVAmt>3099489</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>LONG POSITION I</StockNm>
        <EOYBookValueAmt>9869661</EOYBookValueAmt>
        <EOYFMVAmt>15849570</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LONG POSITION III</StockNm>
        <EOYBookValueAmt>3660707</EOYBookValueAmt>
        <EOYFMVAmt>4868032</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LONG POSITION IV</StockNm>
        <EOYBookValueAmt>0</EOYBookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GS ABSOLUTE RTN TRACKER FUND</CategoryOrItemTxt>
        <BookValueAmt>1588340</BookValueAmt>
        <EOYFMVAmt>1680481</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CROSS OCEAN USSS FUND I (A)</CategoryOrItemTxt>
        <BookValueAmt>575282</BookValueAmt>
        <EOYFMVAmt>403077</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PURCHASED ACCRUED INTEREST</CategoryOrItemTxt>
        <BookValueAmt>2079</BookValueAmt>
        <EOYFMVAmt>2079</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EISLER CAPITAL FUND, LTD</CategoryOrItemTxt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EISLER CAPITAL MULTI STRATEGY</CategoryOrItemTxt>
        <BookValueAmt>1026874</BookValueAmt>
        <EOYFMVAmt>1093459</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVENTURE CAPITAL CORP</CategoryOrItemTxt>
        <BookValueAmt>170000</BookValueAmt>
        <EOYFMVAmt>170000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>WELLINGTON:NON-US EQUITY OS LP</CategoryOrItemTxt>
        <BookValueAmt>1750000</BookValueAmt>
        <EOYFMVAmt>1839697</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>WEST STREET GLOBAL GROWTH LLC</CategoryOrItemTxt>
        <BookValueAmt>390000</BookValueAmt>
        <EOYFMVAmt>358817</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TPG TECH ADJ II ACCESS OFF LP</CategoryOrItemTxt>
        <BookValueAmt>162696</BookValueAmt>
        <EOYFMVAmt>151826</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CROSS OCEAN USSS FUND II CAY</CategoryOrItemTxt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>434849</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LONG POSITION I</CategoryOrItemTxt>
        <BookValueAmt>726061</BookValueAmt>
        <EOYFMVAmt>744010</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>NYS FILING FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>750</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>750</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>Partnership Income</Desc>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>- CROSS OCEAN USSS FUND II CAYMAN</Desc>
        <RevenueAndExpensesPerBooksAmt>-1179</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-1179</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>PFIC DIVIDEND INCOME</Desc>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>- CROSS OCEAN USSS FUND I A CAYMAN</Desc>
        <RevenueAndExpensesPerBooksAmt>38648</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>38648</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSch">
      <OtherIncreasesDetail>
        <Desc>EXCESS OF FMV OVER FOUNDATION COST BASIS</Desc>
        <Amt>647919</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>OF SECURITIES DONATED</Desc>
        <Amt>0</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>COST BASIS ADJUSTMENT</Desc>
        <Amt>8210</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT MANAGEMENT FEES -GS</CategoryTxt>
        <Amt>62406</Amt>
        <NetInvestmentIncomeAmt>62406</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAXES PAID</CategoryTxt>
        <Amt>30000</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
