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        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KEN HEISER</PersonNm>
          <USAddress>
            <AddressLine1Txt>100 PROEHLS TRAIL</AddressLine1Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOHN CLYMER</PersonNm>
          <USAddress>
            <AddressLine1Txt>829 THIRD STREET</AddressLine1Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT&amp;TR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ERIC G JOHNSON</PersonNm>
          <USAddress>
            <AddressLine1Txt>205 STATION CIRCLE N</AddressLine1Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MONICA WEEKES</PersonNm>
          <USAddress>
            <AddressLine1Txt>342 N COVE RD</AddressLine1Txt>
            <AddressLine2Txt>342 N COVE RD</AddressLine2Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </USAddress>
          <TitleTxt>VICEPRES&amp;SEC</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CHARLES HUNTLEY</PersonNm>
          <USAddress>
            <AddressLine1Txt>601 MALLALIEU DRIVE</AddressLine1Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JILL BURCHILL</PersonNm>
          <USAddress>
            <AddressLine1Txt>7110 GOLDEN EAGLE CT 424</AddressLine1Txt>
            <CityNm>FORT MYERS</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33912</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</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>5394430</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>175487</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>1445673</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>7015590</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>7015590</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>105234</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>6910356</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>345518</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>345518</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>2791</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>2791</TotalTaxAmt>
        <DistributableBeforeAdjAmt>342727</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>342727</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>342727</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>200003</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>200003</QualifyingDistributionsAmt>
        <AdjustedQualifyingDistriAmt>200003</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>342727</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>80960</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>84865</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>86995</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>60001</ExcessDistributionCyovYr2Amt>
        <TotalExcessDistributionCyovAmt>312821</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>200003</QualifyingDistributionsAmt>
        <AppliedToCurrentYearAmt>200003</AppliedToCurrentYearAmt>
        <ExcessDistriCyovAppCYCorpusAmt>142724</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>142724</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>170097</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>170097</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>23101</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>86995</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>60001</ExcessFromYear2Amt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>WILLIAM H PHIPPS FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 653</AddressLine1Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>6512163587</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>APPLICATIONS FOR GRANTS MAY BE SUBMITTED IN THE FORM OF A LETTER OUTLINING THE NATURE OF THE REQUEST AND A COPY OF THE APPLICANT'S INTERNAL REVENUE SERVICE EXEMPTION LETTER.</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NO SUBMISSION DEADLINES</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>FOUNDATION AWARDS ARE LIMITED TO PROMOTING AND ADMINISTERING CHARITABLE, BENEVOLENT, EDUCATIONAL AND RELIGIOUS AIM AND THE PROMOTION OF CULTURAL ADVANTAGES WITHIN THE STATE OF WISCONSIN, AND PARTICULARLY ST CROIX COUNTY, WISCONSIN. THE AWARDS THAT ARE GIVEN TO MINNESOTA ORGANIZATIONS ARE FOR SPECIFIC ACTIVITIES WITHIN WISCONSIN AND PARTICULARLY ST CROIX COUNTY. THE FOUNDATION MAY MAKE GRANTS TO THE HUDSON WISCONSIN AREA SCHOOL DISTRICT FOR SCHOLARSHIPS TO GRADUATING HIGH SCHOOL SENIORS.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>HUDSON AREA BACKPACK PROGRAM</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>HUDSON AREA BACKPACK PROGRAM</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 491</AddressLine1Txt>
            <AddressLine2Txt>PO BOX 491</AddressLine2Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC CHAR</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROGRAM EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>HUDSON SR HIGH SCHOOL</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>HUDSON SR HIGH SCHOOL</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1501 VINE ST</AddressLine1Txt>
            <AddressLine2Txt>1501 VINE ST</AddressLine2Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC CHAR</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NORTHERN STAR COUNCIL OF BSA</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>NORTHERN STAR COUNCIL OF BSA</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>393 MARSHALL AVE</AddressLine1Txt>
            <AddressLine2Txt>393 MARSHALL AVE</AddressLine2Txt>
            <CityNm>ST PAUL</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55102</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC CHAR</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>OPERATING</GrantOrContributionPurposeTxt>
          <Amt>6000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>OPERATION HELP</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>OPERATION HELP</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>502 CTY RD UU</AddressLine1Txt>
            <AddressLine2Txt>502 CTY RD UU</AddressLine2Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC CHAR</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>COMMUNITY NEEDS</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PHIPPS CENTER FOR THE ART</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>PHIPPS CENTER FOR THE ARTS</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1ST LOCUST</AddressLine1Txt>
            <AddressLine2Txt>1ST LOCUST</AddressLine2Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC CHAR</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>ANNUAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>110003</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>YOUTH ACTION HUDSON</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>YOUTH ACTION HUDSON</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>911 4TH ST 218</AddressLine1Txt>
            <AddressLine2Txt>911 4TH ST 218</AddressLine2Txt>
            <CityNm>HUDSON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54016</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC CHAR</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROGRAM SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TURNINGPOINT</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>TURNINGPOINT</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>117 N MAIN ST</AddressLine1Txt>
            <AddressLine2Txt>117 N MAIN ST</AddressLine2Txt>
            <CityNm>RIVER FALLS</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54022</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC CHAR</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROGRAM SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ST CROIX VALLEY SART</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>ST CROIX VALLEY SART</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1343 N MAIN ST</AddressLine1Txt>
            <AddressLine2Txt>1343 N MAIN ST</AddressLine2Txt>
            <CityNm>RIVER FALLS</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>54022</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC CHAR</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROGRAM EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GIRL SCOUTS-MN &amp; WI RIVER VALLEY</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>GIRL SCOUTS OF THE MN &amp; WI RIVER VALLEY</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>400 ROBERT ST S</AddressLine1Txt>
            <AddressLine2Txt>400 ROBERT ST S</AddressLine2Txt>
            <CityNm>ST PAUL</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55107</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC CHAR</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROGRAM EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>6000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>200003</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <RelatedOrExemptFunctionIncmAmt>44748</RelatedOrExemptFunctionIncmAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <RelatedOrExemptFunctionIncmAmt>106804</RelatedOrExemptFunctionIncmAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>97743</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <RelatedOrExemptFunctionIncmAmt>249295</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>249295</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="RetDoc2">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING</CategoryTxt>
        <Amt>2762</Amt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc3">
      <InvestmentsCorporateBondsGrp>
        <BondNm>BOND FUNDS</BondNm>
        <EOYBookValueAmt>563810</EOYBookValueAmt>
        <EOYFMVAmt>591531</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>FIXED INCOME 6638</BondNm>
        <EOYBookValueAmt>1351718</EOYBookValueAmt>
        <EOYFMVAmt>1411587</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc4">
      <InvestmentsCorporateStockGrp>
        <StockNm>CORPORATE EQUITY INVESTMENTS</StockNm>
        <EOYBookValueAmt>2202749</EOYBookValueAmt>
        <EOYFMVAmt>2938408</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>STOCKS-ADD'L BASIS</StockNm>
        <EOYBookValueAmt>255219</EOYBookValueAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc5">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ETFS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>1451919</BookValueAmt>
        <EOYFMVAmt>2526892</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ETFS ADD'L BASIS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>286668</BookValueAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ADD'L BASIS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>168866</BookValueAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherProfessionalFeesSchedule documentId="RetDoc6">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>MANAGEMENT FEES/SCHWAB 8191</CategoryTxt>
        <Amt>9800</Amt>
        <NetInvestmentIncomeAmt>9800</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>MANAGEMENT FEES/SCWAB 6638</CategoryTxt>
        <Amt>22047</Amt>
        <NetInvestmentIncomeAmt>22047</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>PROFESSIONAL FEES</CategoryTxt>
        <Amt>2250</Amt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc7">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAX</CategoryTxt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>INCOME TAX</CategoryTxt>
        <Amt>7910</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
