<?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="2020v4.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2021-11-15T07:57:38-06:00</ReturnTs>
    <TaxPeriodEndDt>2020-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>410746749</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>CLIFTONLARSONALLEN LP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>29 S MAIN STREET</AddressLine1Txt>
        <CityNm>WEST HARTFORD</CityNm>
        <StateAbbreviationCd>CT</StateAbbreviationCd>
        <ZIPCd>06127</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2020-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>200288123</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>HIGH MEADOWS FUND INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>HIGH</BusinessNameControlTxt>
      <PhoneNum>8023883355</PhoneNum>
      <USAddress>
        <AddressLine1Txt>CO VCF 3 COURT STREET</AddressLine1Txt>
        <CityNm>MIDDLEBURY</CityNm>
        <StateAbbreviationCd>VT</StateAbbreviationCd>
        <ZIPCd>05753</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>DEBRA DABROWSKI</PersonNm>
      <PersonTitleTxt>VP FOR FINANCE OF VCF</PersonTitleTxt>
      <PhoneNum>8023883355</PhoneNum>
      <SignatureDt>2021-11-14</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>DEBRA</PersonFirstNm>
        <PersonLastNm>DABROWSKI</PersonLastNm>
      </PersonFullName>
      <SSN>999009999</SSN>
    </SigningOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>LORI BUDNICK</PreparerPersonNm>
      <PTIN>P00046310</PTIN>
      <PhoneNum>8605614000</PhoneNum>
    </PreparerPersonGrp>
    <AdditionalFilerInformation>
      <TrustedCustomerGrp>
        <TrustedCustomerCd>3</TrustedCustomerCd>
        <AuthenticationAssuranceLevelCd>AAL1</AuthenticationAssuranceLevelCd>
        <IdentityAssuranceLevelCd>IAL1</IdentityAssuranceLevelCd>
      </TrustedCustomerGrp>
    </AdditionalFilerInformation>
    <TaxYr>2020</TaxYr>
    <BuildTS>2022-09-23 18:48:47Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990 documentId="RetDoc1038000001" referenceDocumentId="RetDoc1044400001">
      <PrincipalOfficerNm>GAYE SYMINGTON</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>C/O VCF 3 COURT STREET</AddressLine1Txt>
        <CityNm>MIDDLEBURY</CityNm>
        <StateAbbreviationCd>VT</StateAbbreviationCd>
        <ZIPCd>05753</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>10873265</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>0</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <WebsiteAddressTxt>WWW.HIGHMEADOWSFUND.ORG</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>2003</FormationYr>
      <LegalDomicileStateCd>VT</LegalDomicileStateCd>
      <ActivityOrMissionDesc>THE HIGH MEADOWS FUND PROMOTES VIBRANT COMMUNITIES AND A HEALTHY, NATURAL ENVIRONMENT WHILE ENCOURAGING LONG-TERM ECONOMIC VITALITY IN VERMONT.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>7</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>6</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>4</TotalEmployeeCnt>
      <TotalVolunteersCnt>7</TotalVolunteersCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <NetUnrelatedBusTxblIncmAmt>0</NetUnrelatedBusTxblIncmAmt>
      <PYContributionsGrantsAmt>702647</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>625331</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>0</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>0</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>651164</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>456502</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>0</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>11907</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>1353811</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>1093740</CYTotalRevenueAmt>
      <PYGrantsAndSimilarPaidAmt>1449171</PYGrantsAndSimilarPaidAmt>
      <CYGrantsAndSimilarPaidAmt>1141375</CYGrantsAndSimilarPaidAmt>
      <PYBenefitsPaidToMembersAmt>0</PYBenefitsPaidToMembersAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>360204</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>370842</CYSalariesCompEmpBnftPaidAmt>
      <PYTotalProfFndrsngExpnsAmt>0</PYTotalProfFndrsngExpnsAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>0</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>300784</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>298199</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>2110159</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>1810416</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>-756348</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>-716676</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>21082308</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>22370787</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>481614</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>185324</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>20600694</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>22185463</NetAssetsOrFundBalancesEOYAmt>
      <MissionDesc>THE HIGH MEADOWS FUND PROMOTES VIBRANT COMMUNITIES AND A HEALTHY, NATURAL ENVIRONMENT WHILE ENCOURAGING LONG-TERM ECONOMIC VITALITY IN VERMONT.</MissionDesc>
      <SignificantNewProgramSrvcInd>0</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>0</SignificantChangeInd>
      <ExpenseAmt>1393048</ExpenseAmt>
      <GrantAmt>1141375</GrantAmt>
      <Desc>GRANTMAKING - THE HIGH MEADOWS FUND, INC MAKES GRANTS TO VAIROUS ORGANIZATIONS FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES TOWARDS ITS MISSION OF PROMOTING VIBRANT COMMUNITIES AND A HEALTHY NATURAL ENVIRONMENT WHILE ENCOURAGING LONG TERM VITALITY IN VERMONT. GRANTMAKING FOCUSED PRIMARILY ON ADDRESSING CHALLENGES THAT SURFACED DUE TO THE COVID-19 PANDEMIC, INCLUDING ENCOURAGING WORKING FARMS AND FORESTS; COMPACT SETTLEMENTS AND RESPONSIBLE WATERSHED MANAGEMENT; PROMOTING HEALTHY SOILS AND EXPANDING AGRICULTURAL AND FOREST PRODUCTS MARKETS; AND LOWERING FOSSIL FUEL USE IN BUILDINGS AND TRANSPORTATION.</Desc>
      <ProgSrvcAccomActy2Grp>
        <ExpenseAmt>59312</ExpenseAmt>
        <Desc>RESEARCH - HIGH MEADOWS FUND, INC OCCASIONALLY RETAINS CONTRACTORS AND CONSULTANTS FOR UNDERTAKE RESEARCH OR FACILITATE MEETINGS AND CONVENINGS RELATED TO ITS MISSION. FOR EXAMPLE, FUNDING WAS PROVIDED TO ASSIST FOREST FOCUSED ORGANIZTIONS TO SHARE WHAT THEY WERE LEARNING ABOUT HOW BEST TO ENGAGE WITH FOREST LANDOWNERS.</Desc>
      </ProgSrvcAccomActy2Grp>
      <TotalProgramServiceExpensesAmt>1452360</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc1039100001">1</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="RetDoc1234500001">1</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd referenceDocumentId="RetDoc1039600001">0</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd referenceDocumentId="RetDoc1039600001">1</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd referenceDocumentId="RetDoc1039600001">0</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc1040000001">0</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc1040000001">0</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc1040000001">0</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc1040000001">0</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd>1</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc1040000001">1</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc1040000001">1</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc1040000001">1</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc1040000001">0</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc1040000001">0</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc1040000001">0</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">0</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">1</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>0</SchoolOperatingInd>
      <ForeignOfficeInd>0</ForeignOfficeInd>
      <ForeignActivitiesInd>0</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd>0</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd>0</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>0</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>0</FundraisingActivitiesInd>
      <GamingActivitiesInd>0</GamingActivitiesInd>
      <OperateHospitalInd>0</OperateHospitalInd>
      <GrantsToOrganizationsInd referenceDocumentId="RetDoc1041900001">1</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd referenceDocumentId="RetDoc1041900001">0</GrantsToIndividualsInd>
      <ScheduleJRequiredInd>0</ScheduleJRequiredInd>
      <TaxExemptBondsInd>0</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>0</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>0</PYExcessBenefitTransInd>
      <LoanOutstandingInd>0</LoanOutstandingInd>
      <GrantToRelatedPersonInd>0</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>0</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>0</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>0</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd>0</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>0</DeductibleArtContributionInd>
      <TerminateOperationsInd>0</TerminateOperationsInd>
      <PartialLiquidationInd>0</PartialLiquidationInd>
      <DisregardedEntityInd referenceDocumentId="RetDoc1043400001">0</DisregardedEntityInd>
      <RelatedEntityInd referenceDocumentId="RetDoc1043400001">1</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>0</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd referenceDocumentId="RetDoc1043400001">0</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd referenceDocumentId="RetDoc1043400001">0</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>1</ScheduleORequiredInd>
      <IRPDocumentCnt>5</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <BackupWthldComplianceInd>1</BackupWthldComplianceInd>
      <EmployeeCnt>4</EmployeeCnt>
      <EmploymentTaxReturnsFiledInd>1</EmploymentTaxReturnsFiledInd>
      <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>0</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>0</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>0</NondeductibleContributionsInd>
      <QuidProQuoContributionsInd>0</QuidProQuoContributionsInd>
      <Form8282PropertyDisposedOfInd>0</Form8282PropertyDisposedOfInd>
      <Form8282FiledCnt>0</Form8282FiledCnt>
      <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
      <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
      <IndoorTanningServicesInd>0</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>0</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>7</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>6</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>0</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>1</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>0</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>0</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>0</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>0</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>0</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>1</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>1</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>0</OfficerMailingAddressInd>
      <LocalChaptersInd>1</LocalChaptersInd>
      <PoliciesReferenceChaptersInd>1</PoliciesReferenceChaptersInd>
      <Form990ProvidedToGvrnBodyInd>1</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>1</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>1</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>1</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>1</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>1</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>1</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>1</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>0</InvestmentInJointVentureInd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <BusinessName>
          <BusinessNameLine1Txt>DEBRA DABROWSKI CPA</BusinessNameLine1Txt>
        </BusinessName>
        <PhoneNum>8023883355</PhoneNum>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <Form990PartVIISectionAGrp>
        <PersonNm>GAYE SYMINGTON</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>125220</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>24720</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CHELSEA BARDOT LEWIS</PersonNm>
        <TitleTxt>SECRETARTY &amp; TREASURER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>38.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>78020</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>39404</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DARBY BRADLEY UNTIL 1020</PersonNm>
        <TitleTxt>BOARD VICE CHAIR &amp; ASST SE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CANDACE PAGE</PersonNm>
        <TitleTxt>VICE CHAIR &amp; ASST SECRETAR</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CARL FERENBACH</PersonNm>
        <TitleTxt>CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>TOM ROBERTS</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JOHN KASSEL</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>LINDA MARKIN</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ELIZABETH BANKOWSKI</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>125220</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>78020</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>64124</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>1</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>0</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <CntrctRcvdGreaterThan100KCnt>0</CntrctRcvdGreaterThan100KCnt>
      <AllOtherContributionsAmt>625331</AllOtherContributionsAmt>
      <TotalContributionsAmt>625331</TotalContributionsAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>371396</TotalRevenueColumnAmt>
        <ExclusionAmt>371396</ExclusionAmt>
      </InvestmentIncomeGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>9864631</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>9779525</SecuritiesAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <SecuritiesAmt>85106</SecuritiesAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>85106</TotalRevenueColumnAmt>
        <ExclusionAmt>85106</ExclusionAmt>
      </NetGainOrLossInvestmentsGrp>
      <OtherRevenueMiscGrp>
        <Desc>OTHER INCOME</Desc>
        <BusinessCd>900099</BusinessCd>
        <TotalRevenueColumnAmt>11907</TotalRevenueColumnAmt>
        <ExclusionAmt>11907</ExclusionAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueTotalAmt>11907</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>1093740</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>0</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>468409</ExclusionAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticOrgsGrp>
        <TotalAmt>1141375</TotalAmt>
        <ProgramServicesAmt>1141375</ProgramServicesAmt>
      </GrantsToDomesticOrgsGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>149940</TotalAmt>
        <ProgramServicesAmt>74970</ProgramServicesAmt>
        <ManagementAndGeneralAmt>74970</ManagementAndGeneralAmt>
      </CompCurrentOfcrDirectorsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>176321</TotalAmt>
        <ProgramServicesAmt>135393</ProgramServicesAmt>
        <ManagementAndGeneralAmt>40928</ManagementAndGeneralAmt>
      </OtherSalariesAndWagesGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>7367</TotalAmt>
        <ProgramServicesAmt>5668</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1699</ManagementAndGeneralAmt>
      </PensionPlanContributionsGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>10981</TotalAmt>
        <ProgramServicesAmt>8724</ProgramServicesAmt>
        <ManagementAndGeneralAmt>2257</ManagementAndGeneralAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>26233</TotalAmt>
        <ProgramServicesAmt>17336</ProgramServicesAmt>
        <ManagementAndGeneralAmt>8897</ManagementAndGeneralAmt>
      </PayrollTaxesGrp>
      <FeesForServicesManagementGrp>
        <TotalAmt>115000</TotalAmt>
        <ManagementAndGeneralAmt>115000</ManagementAndGeneralAmt>
      </FeesForServicesManagementGrp>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>76269</TotalAmt>
        <ManagementAndGeneralAmt>76269</ManagementAndGeneralAmt>
      </FeesForSrvcInvstMgmntFeesGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>1608</TotalAmt>
        <ManagementAndGeneralAmt>1608</ManagementAndGeneralAmt>
      </FeesForServicesOtherGrp>
      <AdvertisingGrp>
        <TotalAmt>3676</TotalAmt>
        <ProgramServicesAmt>3676</ProgramServicesAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>21512</TotalAmt>
        <ProgramServicesAmt>2705</ProgramServicesAmt>
        <ManagementAndGeneralAmt>18807</ManagementAndGeneralAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
        <TotalAmt>1689</TotalAmt>
        <ProgramServicesAmt>1165</ProgramServicesAmt>
        <ManagementAndGeneralAmt>524</ManagementAndGeneralAmt>
      </InformationTechnologyGrp>
      <OccupancyGrp>
        <TotalAmt>16500</TotalAmt>
        <ProgramServicesAmt>11385</ProgramServicesAmt>
        <ManagementAndGeneralAmt>5115</ManagementAndGeneralAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>958</TotalAmt>
        <ProgramServicesAmt>922</ProgramServicesAmt>
        <ManagementAndGeneralAmt>36</ManagementAndGeneralAmt>
      </TravelGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>4694</TotalAmt>
        <ProgramServicesAmt>663</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4031</ManagementAndGeneralAmt>
      </ConferencesMeetingsGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>7219</TotalAmt>
        <ProgramServicesAmt>4981</ProgramServicesAmt>
        <ManagementAndGeneralAmt>2238</ManagementAndGeneralAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>3161</TotalAmt>
        <ManagementAndGeneralAmt>3161</ManagementAndGeneralAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>PROFESSIONAL DEVELOPMEN</Desc>
        <TotalAmt>28375</TotalAmt>
        <ProgramServicesAmt>28125</ProgramServicesAmt>
        <ManagementAndGeneralAmt>250</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>DUES</Desc>
        <TotalAmt>7666</TotalAmt>
        <ProgramServicesAmt>5666</ProgramServicesAmt>
        <ManagementAndGeneralAmt>2000</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>CONTRACT LABOR</Desc>
        <TotalAmt>6636</TotalAmt>
        <ProgramServicesAmt>6636</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>COMMUNICATIONS</Desc>
        <TotalAmt>2970</TotalAmt>
        <ProgramServicesAmt>2970</ProgramServicesAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>266</TotalAmt>
        <ManagementAndGeneralAmt>266</ManagementAndGeneralAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>1810416</TotalAmt>
        <ProgramServicesAmt>1452360</ProgramServicesAmt>
        <ManagementAndGeneralAmt>358056</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>60450</BOYAmt>
        <EOYAmt>71381</EOYAmt>
      </CashNonInterestBearingGrp>
      <AccountsReceivableGrp>
        <BOYAmt>83</BOYAmt>
        <EOYAmt>6060</EOYAmt>
      </AccountsReceivableGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>4755</BOYAmt>
        <EOYAmt>7147</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>40060</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>27837</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>14478</BOYAmt>
        <EOYAmt>12223</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsPubTradedSecGrp>
        <BOYAmt>17937703</BOYAmt>
        <EOYAmt>18359091</EOYAmt>
      </InvestmentsPubTradedSecGrp>
      <InvestmentsOtherSecuritiesGrp>
        <BOYAmt>2124746</BOYAmt>
        <EOYAmt>2211080</EOYAmt>
      </InvestmentsOtherSecuritiesGrp>
      <InvestmentsProgramRelatedGrp>
        <BOYAmt>939393</BOYAmt>
        <EOYAmt>1703105</EOYAmt>
      </InvestmentsProgramRelatedGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>700</BOYAmt>
        <EOYAmt>700</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>21082308</BOYAmt>
        <EOYAmt>22370787</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>17864</BOYAmt>
        <EOYAmt>20199</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <GrantsPayableGrp>
        <BOYAmt>463750</BOYAmt>
        <EOYAmt>165125</EOYAmt>
      </GrantsPayableGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>481614</BOYAmt>
        <EOYAmt>185324</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>20574371</BOYAmt>
        <EOYAmt>22185463</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>26323</BOYAmt>
        <EOYAmt>0</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>20600694</BOYAmt>
        <EOYAmt>22185463</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>21082308</BOYAmt>
        <EOYAmt>22370787</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>-716676</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>2232341</NetUnrlzdGainsLossesInvstAmt>
      <PriorPeriodAdjustmentsAmt>69104</PriorPeriodAdjustmentsAmt>
      <OtherChangesInNetAssetsAmt>0</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <ConsolidatedBasisFinclStmtInd>X</ConsolidatedBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <SupportingOrganization509a3Ind>X</SupportingOrganization509a3Ind>
      <SupportingOrgType1Ind>X</SupportingOrgType1Ind>
      <SupportedOrganizationsCnt>1</SupportedOrganizationsCnt>
      <SupportedOrgInformationGrp>
        <SupportedOrganizationName>
          <BusinessNameLine1Txt>VERMONT COMMUNITY FOUNDATION</BusinessNameLine1Txt>
        </SupportedOrganizationName>
        <EIN>222712160</EIN>
        <OrganizationTypeCd>7</OrganizationTypeCd>
        <GoverningDocumentListedInd>1</GoverningDocumentListedInd>
        <SupportAmt>115000</SupportAmt>
        <OtherSupportAmt>0</OtherSupportAmt>
      </SupportedOrgInformationGrp>
      <SupportedOrganizationsTotalCnt>1</SupportedOrganizationsTotalCnt>
      <SupportSumAmt>115000</SupportSumAmt>
      <OtherSupportSumAmt>0</OtherSupportSumAmt>
      <Form990SchASupportingOrgGrp>
        <ListedByNameGoverningDocInd>1</ListedByNameGoverningDocInd>
        <SuprtOrgNoIRSDeterminationInd>0</SuprtOrgNoIRSDeterminationInd>
        <SupportedOrgSectionC456Ind>0</SupportedOrgSectionC456Ind>
        <SupportedOrgNotOrganizedUSInd>0</SupportedOrgNotOrganizedUSInd>
        <OrganizationChangeSuprtOrgInd>0</OrganizationChangeSuprtOrgInd>
        <SupportNonSupportedOrgInd>1</SupportNonSupportedOrgInd>
        <PaymentSubstantialContribtrInd>0</PaymentSubstantialContribtrInd>
        <LoanDisqualifiedPersonInd>0</LoanDisqualifiedPersonInd>
        <ControlledDisqualifiedPrsnInd>0</ControlledDisqualifiedPrsnInd>
        <DisqualifiedPrsnControllIntInd>0</DisqualifiedPrsnControllIntInd>
        <DisqualifiedPrsnOwnrIntInd>0</DisqualifiedPrsnOwnrIntInd>
        <ExcessBusinessHoldingsRulesInd>0</ExcessBusinessHoldingsRulesInd>
        <ContributionControllerInd>0</ContributionControllerInd>
        <ContributionFamilyInd>0</ContributionFamilyInd>
        <Contribution35ControlledInd>0</Contribution35ControlledInd>
      </Form990SchASupportingOrgGrp>
      <Form990SchAType1SuprtOrgGrp>
        <PowerAppointMajorityDirTrstInd>1</PowerAppointMajorityDirTrstInd>
        <OperateBenefitNonSuprtOrgInd>0</OperateBenefitNonSuprtOrgInd>
      </Form990SchAType1SuprtOrgGrp>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>PART IV, SECTION A, LINE 6:</FormAndLineReferenceDesc>
        <ExplanationTxt>TO FURTHER THE EXEMPT PURPOSE OF BOTH THE FUND AND ITS SUPPORTED ORGANIZATION, GRANTS WERE AWARDED TO OTHER 501(C)(3) ORGANIZATIONS. THE GRANTS WERE AWARDED TO ORGANIZATIONS PRIMARILY TO PROMOTE A HEALTHY NATURAL ENVIRONMENT WHILE ENCOURAGING LONG-TERM ECONOMIC VITALITY.</ExplanationTxt>
      </Form990ScheduleAPartVIGrp>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleC documentId="RetDoc1039600001">
      <OrganizationBelongsAffltGrpInd referenceDocumentId="RetDoc2137600001">X</OrganizationBelongsAffltGrpInd>
      <TotalGrassrootsLobbyingGrp>
        <FilingOrganizationsTotalAmt>0</FilingOrganizationsTotalAmt>
        <AffiliatedGroupTotalAmt>58223</AffiliatedGroupTotalAmt>
      </TotalGrassrootsLobbyingGrp>
      <TotalDirectLobbyingGrp>
        <FilingOrganizationsTotalAmt>0</FilingOrganizationsTotalAmt>
        <AffiliatedGroupTotalAmt>36697</AffiliatedGroupTotalAmt>
      </TotalDirectLobbyingGrp>
      <TotalLobbyingExpendGrp>
        <FilingOrganizationsTotalAmt>0</FilingOrganizationsTotalAmt>
        <AffiliatedGroupTotalAmt>94920</AffiliatedGroupTotalAmt>
      </TotalLobbyingExpendGrp>
      <OtherExemptPurposeExpendGrp>
        <FilingOrganizationsTotalAmt>1810416</FilingOrganizationsTotalAmt>
        <AffiliatedGroupTotalAmt>46173532</AffiliatedGroupTotalAmt>
      </OtherExemptPurposeExpendGrp>
      <TotalExemptPurposeExpendGrp>
        <FilingOrganizationsTotalAmt>1810416</FilingOrganizationsTotalAmt>
        <AffiliatedGroupTotalAmt>46268452</AffiliatedGroupTotalAmt>
      </TotalExemptPurposeExpendGrp>
      <LobbyingNontaxableAmountGrp>
        <FilingOrganizationsTotalAmt>240521</FilingOrganizationsTotalAmt>
        <AffiliatedGroupTotalAmt>1000000</AffiliatedGroupTotalAmt>
      </LobbyingNontaxableAmountGrp>
      <GrassrootsNontaxableGrp>
        <FilingOrganizationsTotalAmt>60130</FilingOrganizationsTotalAmt>
        <AffiliatedGroupTotalAmt>250000</AffiliatedGroupTotalAmt>
      </GrassrootsNontaxableGrp>
      <TotLbbyngGrassrootMnsNonTxGrp>
        <FilingOrganizationsTotalAmt>0</FilingOrganizationsTotalAmt>
        <AffiliatedGroupTotalAmt>0</AffiliatedGroupTotalAmt>
      </TotLbbyngGrassrootMnsNonTxGrp>
      <TotLbbyExpendMnsLbbyngNonTxGrp>
        <FilingOrganizationsTotalAmt>0</FilingOrganizationsTotalAmt>
        <AffiliatedGroupTotalAmt>0</AffiliatedGroupTotalAmt>
      </TotLbbyExpendMnsLbbyngNonTxGrp>
      <AvgLobbyingNontaxableAmountGrp>
        <CurrentYearMinus3Amt>1000000</CurrentYearMinus3Amt>
        <CurrentYearMinus2Amt>1000000</CurrentYearMinus2Amt>
        <CurrentYearMinus1Amt>1000000</CurrentYearMinus1Amt>
        <CurrentYearAmt>1000000</CurrentYearAmt>
        <TotalAmt>4000000</TotalAmt>
      </AvgLobbyingNontaxableAmountGrp>
      <LobbyingCeilingAmt>6000000</LobbyingCeilingAmt>
      <AvgTotalLobbyingExpendGrp>
        <CurrentYearMinus3Amt>107943</CurrentYearMinus3Amt>
        <CurrentYearMinus2Amt>38443</CurrentYearMinus2Amt>
        <CurrentYearMinus1Amt>80983</CurrentYearMinus1Amt>
        <CurrentYearAmt>94920</CurrentYearAmt>
        <TotalAmt>322289</TotalAmt>
      </AvgTotalLobbyingExpendGrp>
      <AvgGrassrootsNontaxableGrp>
        <CurrentYearMinus3Amt>250000</CurrentYearMinus3Amt>
        <CurrentYearMinus2Amt>250000</CurrentYearMinus2Amt>
        <CurrentYearMinus1Amt>250000</CurrentYearMinus1Amt>
        <CurrentYearAmt>250000</CurrentYearAmt>
        <TotalAmt>1000000</TotalAmt>
      </AvgGrassrootsNontaxableGrp>
      <GrassrootsCeilingAmt>1500000</GrassrootsCeilingAmt>
      <AvgGrassrootsLobbyingExpendGrp>
        <CurrentYearMinus3Amt>9389</CurrentYearMinus3Amt>
        <CurrentYearMinus2Amt>11315</CurrentYearMinus2Amt>
        <CurrentYearMinus1Amt>29175</CurrentYearMinus1Amt>
        <CurrentYearAmt>58223</CurrentYearAmt>
        <TotalAmt>108102</TotalAmt>
      </AvgGrassrootsLobbyingExpendGrp>
    </IRS990ScheduleC>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <AgentTrusteeEtcInd>0</AgentTrusteeEtcInd>
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>20600694</BeginningYearBalanceAmt>
        <ContributionsAmt>631391</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>2688843</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>1141375</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>310987</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>352207</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>22116359</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>18026061</BeginningYearBalanceAmt>
        <ContributionsAmt>707655</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>3977137</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>1449171</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>345860</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>315128</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>20600694</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>19957535</BeginningYearBalanceAmt>
        <ContributionsAmt>856198</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>-1370672</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>779475</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>319602</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>317923</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>18026061</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>17455248</BeginningYearBalanceAmt>
        <ContributionsAmt>674373</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>3166210</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>770507</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>285191</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>282598</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>19957535</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>16837259</BeginningYearBalanceAmt>
        <ContributionsAmt>500100</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>1330109</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>717956</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>197383</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>296881</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>17455248</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <BoardDesignatedBalanceEOYPct>1.00000</BoardDesignatedBalanceEOYPct>
      <PrmnntEndowmentBalanceEOYPct>0.00000</PrmnntEndowmentBalanceEOYPct>
      <TermEndowmentBalanceEOYPct>0.00000</TermEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>0</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>1</EndowmentsHeldRelatedOrgInd>
      <RelatedOrgListSchRInd>1</RelatedOrgListSchRInd>
      <LeaseholdImprovementsGrp>
        <OtherCostOrOtherBasisAmt>12781</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>10633</DepreciationAmt>
        <BookValueAmt>2148</BookValueAmt>
      </LeaseholdImprovementsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>27279</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>17204</DepreciationAmt>
        <BookValueAmt>10075</BookValueAmt>
      </EquipmentGrp>
      <TotalBookValueLandBuildingsAmt>12223</TotalBookValueLandBuildingsAmt>
      <OtherSecuritiesGrp>
        <Desc>FIXED INCOME</Desc>
        <BookValueAmt>2211080</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
      </OtherSecuritiesGrp>
      <TotalBookValueSecuritiesAmt>2211080</TotalBookValueSecuritiesAmt>
      <InvstProgramRelatedOrgGrp>
        <Desc>FIXED INCOME</Desc>
        <BookValueAmt>1157863</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
      </InvstProgramRelatedOrgGrp>
      <InvstProgramRelatedOrgGrp>
        <Desc>PRIVATE EQUITY</Desc>
        <BookValueAmt>545242</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
      </InvstProgramRelatedOrgGrp>
      <TotalBookValueProgramRltdAmt>1703105</TotalBookValueProgramRltdAmt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>FUNDS ARE DESIGNATED AND INTENDED FOR USE IN THE FURTHERANCE OF THE ORGANIZATION'S EXEMPT PURPOSE.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>NORWICH UNIVERSITY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>158 HARMON DRIVE</AddressLine1Txt>
          <CityNm>NORTHFIELD</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05663</ZIPCd>
        </USAddress>
        <RecipientEIN>030179424</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>17000</CashGrantAmt>
        <PurposeOfGrantTxt>TO PLAN AND FACILITATE ACTIVITIES OF THE VERMONT RESILIENCE NETWORK</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>NORTHEASTERN VERMONT DEVELOPMENT ASSOCIATION</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>36 EASTERN AVENUE</AddressLine1Txt>
          <CityNm>ST JOHNSBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05819</ZIPCd>
        </USAddress>
        <RecipientEIN>030181206</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>15000</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT DESIGN WORK AND COST ESTIMATES FOR THE YELLOW BARN RENOVATION.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>FAIRBANKS MUSEUM &amp; PLANETARIUM</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>1302 MAIN STREET</AddressLine1Txt>
          <CityNm>ST JOHNSBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05819</ZIPCd>
        </USAddress>
        <RecipientEIN>030184732</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>35000</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT FAIRBANKS MUSEUM?S PROJECT MANAGEMENT AND WORKFORCE TRAINING THAT INTRODUCES MASS TIMBER IN A PUBLICLY ACCESSIBLE BUILDING.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MERCK FOREST &amp; FARMLAND CENTER INC</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>PO BOX 86</AddressLine1Txt>
          <CityNm>RUPERT</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05768</ZIPCd>
        </USAddress>
        <RecipientEIN>030184959</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>38222</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT MFFC IN ITS EFFORT TO ENSURE THE ECOLOGICAL INTEGRITY OF 38,000 ADDITIONAL ACRES IN THE NORTHERN TACONIC MOUNTAIN FOREST BLOCK.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>CAPSTONE COMMUNITY ACTION</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>20 GABLE PLACE</AddressLine1Txt>
          <CityNm>BARRE</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05641</ZIPCd>
        </USAddress>
        <RecipientEIN>030216254</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>23028</CashGrantAmt>
        <PurposeOfGrantTxt>TO ENABLE CAPSTONE TO MEANINGFULLY PARTICIPATE IN THE GLOBAL WARMING SOLUTIONS ACT?S CLIMATE COUNCIL AND AMPLIFY LOW-INCOME VOICES IN THE WORK OF THE COUNCIL &amp; THEIR NEXT GENERATION MOBILITY FOR ALL PILOT PROGRAM</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>CHAMPLAIN VALLEY OFFICE OF ECONOMIC OPPORTUNITY (CVOEO)</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>255 SOUTH CHAMPLAIN STREET</AddressLine1Txt>
          <CityNm>BURLINGTON</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05402</ZIPCd>
        </USAddress>
        <RecipientEIN>030216837</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>26400</CashGrantAmt>
        <PurposeOfGrantTxt>ONE YEAR OF SUPPORT TO CHAMPLAIN VALLEY OFFICE OF ECONOMIC OPPORTUNITY?S MOBILE HOME PILOT PROJECT WITH 5 MHPS IN HINESBURG.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>WINDHAM REGIONAL COMMISSION</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>139 MAIN STREET SUITE 505</AddressLine1Txt>
          <CityNm>BRATTLEBORO</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05301</ZIPCd>
        </USAddress>
        <RecipientEIN>030220628</RecipientEIN>
        <IRCSectionDesc>GOVT</IRCSectionDesc>
        <CashGrantAmt>10000</CashGrantAmt>
        <PurposeOfGrantTxt>IMPLEMENTATION FUNDING FOR 2 PROJECTS BY THE GREEN RIVER WATERSHED ALLIANCE AS DESIGNATED IN MARGO GHIA?S 5/13/2020 EMAIL. (MATCHING FUNDS HAVE BEEN SECURED.)</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>VERMONT NATURAL RESOURCES COUNCIL</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>9 BAILEY AVENUE</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05602</ZIPCd>
        </USAddress>
        <RecipientEIN>030223731</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>52000</CashGrantAmt>
        <PurposeOfGrantTxt>TO PROMOTE COMMUNITY AND CLIMATE RESILIENCE THROUGH STATE, LOCAL AND REGIONAL PUBLIC POLICY, COMMUNITY ENGAGEMENT AND ACTION, INTEGRATING PRINCIPLES OF EQUITY INTO THAT WORK.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>NORTHWEST REGIONAL PLANNING COMMISSION</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>75 FAIRFIELD STREET</AddressLine1Txt>
          <CityNm>ST ALBANS</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05478</ZIPCd>
        </USAddress>
        <RecipientEIN>030223756</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>5000</CashGrantAmt>
        <PurposeOfGrantTxt>TO ASSIST SMALL FARMERS MARKETS IN GRAND ISLE AND FRANKLIN COUNTY ADJUST TO STATE REQUIREMENTS AND GUIDELINES FOR FARMERS? MARKETS REGARDING COVID-19.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>VERMONT LAND TRUST</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>8 BAILEY AVENUE</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05602</ZIPCd>
        </USAddress>
        <RecipientEIN>030264836</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>50250</CashGrantAmt>
        <PurposeOfGrantTxt>GENERAL OPERATING SUPPORT IN 2020 FOR CONSERVING AND STEWARDING WORKING FARMS AND FORESTS AND TO ENSURE THEY ARE AFFORDABLE AND ACCESSIBLE.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>RESOURCE A NONPROFIT COMMUNITY ENTERPRISE</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>329 HARVEST LANE SUITE 200</AddressLine1Txt>
          <CityNm>WILLISTON</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05495</ZIPCd>
        </USAddress>
        <RecipientEIN>030326293</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>20000</CashGrantAmt>
        <PurposeOfGrantTxt>TO PILOT A WASTE REDUCTION EXPANSION PROGRAM, AIMED AT RURAL AREAS AND TARGETING THE PRIVATE SECTOR TO TAKE A MORE ACTIVE ROLE IN REDUCING THEIR WASTE.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>INTERVALE CENTER INC</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>180 INTERVALE ROAD</AddressLine1Txt>
          <CityNm>BURLINGTON</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05401</ZIPCd>
        </USAddress>
        <RecipientEIN>030329656</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>27500</CashGrantAmt>
        <PurposeOfGrantTxt>SPONSORSHIP OF A SIX-PART WEBINAR SERIES SPONSORED BY SHIFT MEALS CALLED "A FORCE TO BE RECKONED WITH: WOMXN IN VERMONT'S FOOD SYSTEM", GENERAL OPERATING SUPPORT, AND IN SUPPORT OF A COLLABORATION BETWEEN THE VERMONT FOOD HUB COLLABORATIVE, THE CHARITABLE FOOD SYSTEM AND AN ASSOCIATION OF RESTAURANTS IN RESPONSE TO THE IMPACT OF COVID-19.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>NORTHWOODS STEWARDSHIP CENTER</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>154 LEADERSHIP DRIVE</AddressLine1Txt>
          <CityNm>EAST CHARLESTON</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05833</ZIPCd>
        </USAddress>
        <RecipientEIN>030346759</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>32250</CashGrantAmt>
        <PurposeOfGrantTxt>TO EMPOWER FOREST LANDOWNERS AND RECREATIONAL LAND ACCESS MANAGERS IN THE NEK TO PROTECT REGION-WIDE FOREST HEALTH &amp; INTEGRITY THROUGH EDUCATIONAL MATERIALS, EVENTS, AND OUTREACH.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>VERMONT SUSTAINABLE JOBS FUND</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>3 PITKIN CT 301E</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05602</ZIPCd>
        </USAddress>
        <RecipientEIN>030349736</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>67500</CashGrantAmt>
        <PurposeOfGrantTxt>TO INCREASE LOCAL FOOD SALES AND ASSIST VERMONT?S INDEPENDENT GROCERIES IN RESPONDING TO THE DISRUPTION OF COVID-19, SPONSORHIP OF 25TH ANNIVERSARY CELEBRATION, GENERAL OPERATING SUPPORT</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>VERMONT COUNCIL ON RURAL DEVELOPMENT</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>43 STATE STREET SUITES 2 3</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05601</ZIPCd>
        </USAddress>
        <RecipientEIN>030354510</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>10000</CashGrantAmt>
        <PurposeOfGrantTxt>GENERAL OPERATING SUPPORT TO STRENGTHEN COMMUNITY MUTUAL AID ORGANIZING AND RESPONSE AND RECOVERY TO COVID-19.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>NEW ENGLAND GRASSROOTS ENVIRONMENT FUND</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>PO BOX 611</AddressLine1Txt>
          <CityNm>NEWMARKET</CityNm>
          <StateAbbreviationCd>NH</StateAbbreviationCd>
          <ZIPCd>03857</ZIPCd>
        </USAddress>
        <RecipientEIN>030364677</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>20000</CashGrantAmt>
        <PurposeOfGrantTxt>SUPPORTING NEGEF?S SEED GRANT PROGRAM FOR LOCAL NEEDS AND BUILDING RESILIENCE IN COMMUNITIES IN RESPONSE TO THE COVID-19 PANDEMIC AND ASSOCIATED EVENTS.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>FRIENDS OF THE WINOOSKI RIVER</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>PO BOX 777</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05446</ZIPCd>
        </USAddress>
        <RecipientEIN>030368386</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>36500</CashGrantAmt>
        <PurposeOfGrantTxt>TO ENCOURAGE AND ENGAGE WOOD LOT OWNERS AND CONSERVATION COMMISSIONS TO INCORPORATE WATERSHED RESILIENCE IN FOREST MANAGEMENT PLANS AND TO REFOREST VULNERABLE AREAS.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>CONNECTICUT RIVER CONSERVANCY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>15 BANK ROW</AddressLine1Txt>
          <CityNm>GREENFIELD</CityNm>
          <StateAbbreviationCd>MA</StateAbbreviationCd>
          <ZIPCd>01301</ZIPCd>
        </USAddress>
        <RecipientEIN>042148397</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>36000</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT CRC?S LEADERSHIP IN PROMOTING WATERSHED RESILIENCE AND CLIMATE ADAPTATION IMPLEMENTATION IN THE CONNECTICUT RIVER WATERSHED</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>CONSERVATION LAW FOUNDATION</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>62 SUMMER STREET</AddressLine1Txt>
          <CityNm>BOSTON</CityNm>
          <StateAbbreviationCd>MA</StateAbbreviationCd>
          <ZIPCd>02110</ZIPCd>
        </USAddress>
        <RecipientEIN>046149986</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>52250</CashGrantAmt>
        <PurposeOfGrantTxt>TO PROVIDE STATE POLICY AND REGULATORY LEADERSHIP TO PROTECT VERMONT?S NATURAL RESOURCES, IMPROVE RESILIENCE IN THE FACE OF CLIMATE CHANGE, AND TO DISRUPT RACISM AND ADVANCE EQUITY AND OPERATING SUPPORT</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>AUDUBON VERMONT</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>255 SHERMAN HOLLOW ROAD</AddressLine1Txt>
          <CityNm>HUNTINGTON</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05462</ZIPCd>
        </USAddress>
        <RecipientEIN>131624102</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>70000</CashGrantAmt>
        <PurposeOfGrantTxt>TO COORDINATE A STATEWIDE APPROACH TO FOREST HEALTH THAT PROMOTES POLICIES AND FINANCIAL INCENTIVES TO HELP LANDOWNERS MAKE RESPONSIBLE STEWARDSHIP DECISIONS FOR THEIR FORESTS.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>CCTV'S CENTER FOR MEDIA &amp; DEMOCRACY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>294 NORTH WINOOSKI AVENUE</AddressLine1Txt>
          <CityNm>BURLINGTON</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05401</ZIPCd>
        </USAddress>
        <RecipientEIN>222582888</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>5000</CashGrantAmt>
        <PurposeOfGrantTxt>UNRESTRICTED OPERATING SUPPORT FOR COMMON GOOD VERMONT (CCTV - FISCAL SPONSOR)</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>RURAL VERMONT INC</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>46 EAST STATE STREET</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05602</ZIPCd>
        </USAddress>
        <RecipientEIN>223045871</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>8375</CashGrantAmt>
        <PurposeOfGrantTxt>TO HELP RURAL VERMONT SUPPORT THE OPENING OF FARMERS? MARKETS IN VERMONT WITH SMALL GRANTS TO ASSIST WITH PROTOCOLS FOR KEEPING CUSTOMERS, VENDORS AND VOLUNTEERS SAFE UNDER COVID-19 AND GENERAL OPERATING SUPPORT</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>NORTHEAST ORGANIC FARMING ASSOCIATION OF VERMONT (NOFA-VT)</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>14 PLEASANT STREET</AddressLine1Txt>
          <CityNm>RICHMOND</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05477</ZIPCd>
        </USAddress>
        <RecipientEIN>223260420</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>44400</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT A SERIES OF INTERVIEWS OF FARMERS TO EXPLORE DEVELOPING A SHARED AGENDA AND STRONGER VOICE FOR FARMERS TO MORE EFFECTIVELY INFLUENCE POLICIES THAT IMPACT WATER QUALITY AND FARM VIABILITY, SUPPORT FOR STATEWIDE FARMER'S MARKET CAMPAIGN, AND GENERAL OPERATING SUPPORT.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>INTERNATIONAL CRYOSPHERE CLIMATE INITIATIVE</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>281 SARGENT HILL</AddressLine1Txt>
          <CityNm>PAWLET</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05761</ZIPCd>
        </USAddress>
        <RecipientEIN>272065612</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>6400</CashGrantAmt>
        <PurposeOfGrantTxt>CONTINUATION AND PROMOTION OF THE BURN RIGHT EDUCATIONAL CAMPAIGN ABOUT THE BEST PRACTICES AND PROPER BURNING TECHNIQUES FOR WOOD BURNING STOVES THROUGHOUT VT.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>ANTIOCH UNIVERSITY NEW ENGLAND</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>40 AVON STREET</AddressLine1Txt>
          <CityNm>KEENE</CityNm>
          <StateAbbreviationCd>NH</StateAbbreviationCd>
          <ZIPCd>034313516</ZIPCd>
        </USAddress>
        <RecipientEIN>310536640</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>10000</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT THE AUNE REGIONAL CLIMATE RESILIENCE CONFERENCE ON MAY 11-12, 2020, IN EMBEDDING EQUITY AND INCLUSION THROUGHOUT ITS PROGRAMMING IN ORDER TO HELP ATTENDEES INCORPORATE EQUITY CONSIDERATIONS INTO ALL ASPECTS OF IMPROVING CLIMATE PREPARATION.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>COLD HOLLOW TO CANADA</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>PO BOX 406</AddressLine1Txt>
          <CityNm>MONTGOMERY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05471</ZIPCd>
        </USAddress>
        <RecipientEIN>364717953</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>40000</CashGrantAmt>
        <PurposeOfGrantTxt>TO EXPAND AND MANAGE THE WOODLOTS PROGRAM AND DEVELOP AN ONLINE WOODLOTS TOOLKIT.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>GREEN MOUNTAIN FARM-TO-SCHOOL INC</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>115 2ND ST</AddressLine1Txt>
          <CityNm>NEWPORT</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05855</ZIPCd>
        </USAddress>
        <RecipientEIN>412273707</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>15000</CashGrantAmt>
        <PurposeOfGrantTxt>GENERAL OPERATING SUPPORT IN SUPPORT OF GREEN MOUNTAIN FARM TO SCHOOL AND ITS FOOD HUB, GREEN MOUNTAIN FARM DIRECT</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>RICH EARTH INSTITUTE</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>355 OLD FERRY ROAD</AddressLine1Txt>
          <CityNm>BRATTLEBORO</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05301</ZIPCd>
        </USAddress>
        <RecipientEIN>455278690</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>10000</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT PLANNING AND OUTREACH FOR NEW ROCKINGHAM/BELLOWS FALLS DEPOT AND EVALUATION OF PREVIOUSLY INSTALLED EQUIPMENT.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>FOOD CONNECTS</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>22 BROWNE COURT UNIT 110</AddressLine1Txt>
          <CityNm>BRATTLEBORO</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05301</ZIPCd>
        </USAddress>
        <RecipientEIN>462372533</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>75000</CashGrantAmt>
        <PurposeOfGrantTxt>GENERAL OPERATING SUPPORT</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>CENTER FOR WHOLE COMMUNITIES</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>PO BOX 5483</AddressLine1Txt>
          <CityNm>BURLINGTON</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05402</ZIPCd>
        </USAddress>
        <RecipientEIN>510462232</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>20250</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT CWC'S REJOICE PROJECT TO DESIGN AND FACILITATE A PROCESS THAT WILL CRAFT A MEANINGFUL, COMMUNITY-INFORMED, STATEWIDE CROSS-AGENCY ENVIRONMENTAL JUSTICE POLICY FRAMEWORK AND GENERAL OPERATING SUPPORT</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>HEALTH CARE WITHOUT HARM</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>12110 SUNSET HILLS ROAD SUITE 600</AddressLine1Txt>
          <CityNm>RESTON</CityNm>
          <StateAbbreviationCd>VA</StateAbbreviationCd>
          <ZIPCd>20190</ZIPCd>
        </USAddress>
        <RecipientEIN>522358837</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>26000</CashGrantAmt>
        <PurposeOfGrantTxt>TO DEVELOP A SALES BROKERING &amp; MARKETING SERVICE FOR THE NEW ENGLAND FOOD PROCESSORS COLLECTIVE</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MISSISQUOI RIVER BASIN ASSOCIATION</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>2839 VT ROUTE 105</AddressLine1Txt>
          <CityNm>EAST BERKSHIRE</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05447</ZIPCd>
        </USAddress>
        <RecipientEIN>542133563</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>31550</CashGrantAmt>
        <PurposeOfGrantTxt>TO BUILD RESILIENCE WITHIN THE WATERSHED IN HEADWATERS TOWNS BY MAKING CONNECTIONS, FACILITATING FLOW OF INFORMATION AND RESOURCES, ENSURING UPSTREAM/DOWNSTREAM CONVERSATIONS, AND WORKING WITH MUNICIPAL PLANNERS.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MEMPHREMAGOG WATERSHED ASSOCIATION</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>PO 513</AddressLine1Txt>
          <CityNm>NEWPORT</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05855</ZIPCd>
        </USAddress>
        <RecipientEIN>770692704</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>20500</CashGrantAmt>
        <PurposeOfGrantTxt>TO BUILD RESILIENCE WITHIN THE LAKE MEMPHREMAGOG WATERSHED , SUPPORT PROJECT IMPLEMENTATION AND BASIN-WIDE PARTNERSHIP THROUGH ORGANIZATIONAL ADMINISTRATION.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MILK WITH DIGNITY STANDARDS COUNCIL</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>PO BOX 8116</AddressLine1Txt>
          <CityNm>BURLINGTON</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05402</ZIPCd>
        </USAddress>
        <RecipientEIN>813374809</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>25000</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT NET-ZERO MIGRANT FARM WORKER HOUSING ON FARMS PARTICIPATING IN THE MILK WITH DIGNITY PROGRAM.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>WATERSHEDS UNITED VERMONT</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>379 ELM STREET</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05602</ZIPCd>
        </USAddress>
        <RecipientEIN>831625362</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>5000</CashGrantAmt>
        <PurposeOfGrantTxt>SUPPLEMENTAL GENERAL OPERATING SUPPORT TO ADDRESS INCREASED NEEDS DUE TO COVID PANDEMIC.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>FARM TO INSTITUTION IN NEW ENGLAND (FINE)</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>15 LINDEN ROAD</AddressLine1Txt>
          <CityNm>HARTLAND</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05048</ZIPCd>
        </USAddress>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>20000</CashGrantAmt>
        <PurposeOfGrantTxt>GENERAL OPERATING SUPPORT FOR FARM TO INSTITUTION NEW ENGLAND</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>THE CARROT PROJECT</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>89 SOUTH STREET 700</AddressLine1Txt>
          <CityNm>BOSTON</CityNm>
          <StateAbbreviationCd>MA</StateAbbreviationCd>
          <ZIPCd>02111</ZIPCd>
        </USAddress>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>10000</CashGrantAmt>
        <PurposeOfGrantTxt>TO SUPPORT THE CARROT PROJECT'S EFFORTS TO BUILD A THRIVING COMMUNITY OF FARM AND FOREST BUSINESS ADVISORS IN THE NORTHEASTERN U.S.</PurposeOfGrantTxt>
      </RecipientTable>
      <Total501c3OrgCnt>37</Total501c3OrgCnt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION REQUIRES FINANCIAL AND PROGRAMMATIC REPORTING BY ALL GRANTEES TO ENSURE THE APPROPRIATE USE OF GRANTED FUNDS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>THE VERMONT COMMUNITY FOUNDATION PERFORMS CUSTOMARY MANAGEMENT DUTIES ON BEHALF OF THE GOVERNING BODY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>MANAGEMENT REVIEWS THE FORM 990 AND RELATED SCHEDULES PRIOR TO FILING AND ALSO PROVIDES A COPY OF THE TAX RETURN TO ALL BOARD MEMBERS</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL BOARD MEMBERS COMPLETE CONFLICT OF INTEREST FORMS ANNUALLY. BOARD MEMBERS ALSO DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST IF THEY ARISE DURING BOARD MEETINGS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD OF DIRECTORS CONDUCTS AN ANNUAL REVIEW OF THE PRESIDENT'S TOTAL COMPENSATION AS PART OF THE BUDGET PROCESS WHICH THE BOARD REVIEWS AND APPROVES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION HAS NO FORMAL POLICY SURROUNDING THE PUBLIC AVAILABILITY OF ITS GOVERNING DOCUMENTS OTHER THAN TO PROVIDE APPLICABLE DOCUMENTS UPON REQUEST. AS THE HIGH MEADOWS FUND, INC. IS PART OF A CONSOLIDATED SET OF AUDITED FINANCIAL STATEMENTS, NO STAND-ALONE FINANCIAL STATEMENTS EXIST. THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AT WWW.VERMONTCF.ORG.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <IdRelatedTaxExemptOrgGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>VERMONT COMMUNITY FOUNDATION</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>222712160</EIN>
        <PrimaryActivitiesTxt>SUPPORTED ORGANIZATION</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>VT</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(C)(3)</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>LINE 7</PublicCharityStatusTxt>
        <DirectControllingNACd>N/A</DirectControllingNACd>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <IdRelatedTaxExemptOrgGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>J WARREN AND LOIS MCCLURE FOUNDATION INC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>030345186</EIN>
        <PrimaryActivitiesTxt>SUPPORTS THE VERMONT COMMUNITY FOUNDATION</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>VT</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(C)(3)</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>LINE 12A, 1</PublicCharityStatusTxt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>VERMONT COMMUNITY FOUNDATION</BusinessNameLine1Txt>
        </DirectControllingEntityName>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <IdRelatedTaxExemptOrgGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>LET'S GROW KIDS INC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>311802348</EIN>
        <PrimaryActivitiesTxt>SUPPORTS THE VERMONT COMMUNITY FOUNDATION</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>VT</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(C)(3)</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>LINE 12A, 1</PublicCharityStatusTxt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>VERMONT COMMUNITY FOUNDATION</BusinessNameLine1Txt>
        </DirectControllingEntityName>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <IdRelatedTaxExemptOrgGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>ADDISON COMMUNITY ATHLETICS FOUNDATION INC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>461164975</EIN>
        <PrimaryActivitiesTxt>SUPPORTS THE VERMONT COMMUNITY FOUNDATION</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>VT</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(C)(3)</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>LINE 12A, 1</PublicCharityStatusTxt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>VERMONT COMMUNITY FOUNDATION</BusinessNameLine1Txt>
        </DirectControllingEntityName>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <IdRelatedTaxExemptOrgGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>THE CURTIS FUND INC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>036009912</EIN>
        <PrimaryActivitiesTxt>SUPPORTS THE VERMONT COMMUNITY FOUNDATION</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>VT</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(C)(3)</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>LINE 12A, 1</PublicCharityStatusTxt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>VERMONT COMMUNITY FOUNDATION</BusinessNameLine1Txt>
        </DirectControllingEntityName>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <IdRelatedOrgTxblPartnershipGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1Txt>TAPROOT CAPITAL FUND L3C</BusinessNameLine1Txt>
        </RelatedOrganizationName>
        <USAddress>
          <AddressLine1Txt>PO BOX 64</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05601</ZIPCd>
        </USAddress>
        <EIN>813563738</EIN>
        <PrimaryActivitiesTxt>MISSION BASED INVESTMENTS IN OTHER ENTITIES</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>VT</LegalDomicileStateCd>
        <DirectControllingNACd>N/A</DirectControllingNACd>
        <PredominantIncomeTypeTxt>INVESTMENT</PredominantIncomeTypeTxt>
        <ShareOfEOYAssetsAmt>469082</ShareOfEOYAssetsAmt>
        <DisproportionateAllocationsInd>0</DisproportionateAllocationsInd>
        <GeneralOrManagingPartnerInd>1</GeneralOrManagingPartnerInd>
        <OwnershipPct>0.50000</OwnershipPct>
      </IdRelatedOrgTxblPartnershipGrp>
      <ReceiptOfIntAnntsRntsRyltsInd>0</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>0</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>1</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>0</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>0</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>0</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>0</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>0</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>0</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>0</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>0</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>0</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>1</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>1</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>0</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>0</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>0</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>0</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>0</TransferFromOtherOrgInd>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>VERMONT COMMUNITY FOUNDATION</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>M</TransactionTypeTxt>
        <InvolvedAmt>115000</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>CASH</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>VERMONT COMMUNITY FOUNDATION</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>C</TransactionTypeTxt>
        <InvolvedAmt>100000</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>CASH</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
    </IRS990ScheduleR>
    <AffiliatedGroupSchedule documentId="RetDoc2137600001">
      <AffiliatedScheduleGrp>
        <BusinessName>
          <BusinessNameLine1Txt>LET'S GROW KIDS INC</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>311802348</EIN>
        <ElectingOrganizationInd>X</ElectingOrganizationInd>
        <TotalGrassrootsLobbyAmt>58223</TotalGrassrootsLobbyAmt>
        <TotalDirectLobbyAmt>36697</TotalDirectLobbyAmt>
        <TotalLobbyExpenditureAmt>94920</TotalLobbyExpenditureAmt>
        <OtherExemptPurposeExpendAmt>7639625</OtherExemptPurposeExpendAmt>
        <TotalExemptPurposeExpendAmt>7734545</TotalExemptPurposeExpendAmt>
        <LobbyNontxAmt>536727</LobbyNontxAmt>
        <GrassrootsNontxAmt>134182</GrassrootsNontxAmt>
        <TotalLobbyGrssrootMnsNontxAmt>0</TotalLobbyGrssrootMnsNontxAmt>
        <TotLbbyExpendMnsLobbyNontxAmt>0</TotLbbyExpendMnsLobbyNontxAmt>
        <ShareExcessLobbyExpendAmt>0</ShareExcessLobbyExpendAmt>
      </AffiliatedScheduleGrp>
      <AffiliatedScheduleGrp>
        <BusinessName>
          <BusinessNameLine1Txt>VERMONT COMMUNITY FOUNDATION INC</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>222712160</EIN>
        <ElectingOrganizationInd>X</ElectingOrganizationInd>
        <TotalGrassrootsLobbyAmt>0</TotalGrassrootsLobbyAmt>
        <TotalDirectLobbyAmt>0</TotalDirectLobbyAmt>
        <TotalLobbyExpenditureAmt>0</TotalLobbyExpenditureAmt>
        <OtherExemptPurposeExpendAmt>33537396</OtherExemptPurposeExpendAmt>
        <TotalExemptPurposeExpendAmt>33537396</TotalExemptPurposeExpendAmt>
        <LobbyNontxAmt>1000000</LobbyNontxAmt>
        <GrassrootsNontxAmt>250000</GrassrootsNontxAmt>
        <TotalLobbyGrssrootMnsNontxAmt>0</TotalLobbyGrssrootMnsNontxAmt>
        <TotLbbyExpendMnsLobbyNontxAmt>0</TotLbbyExpendMnsLobbyNontxAmt>
        <ShareExcessLobbyExpendAmt>0</ShareExcessLobbyExpendAmt>
      </AffiliatedScheduleGrp>
      <AffiliatedScheduleGrp>
        <BusinessName>
          <BusinessNameLine1Txt>J WARREN AND LOIS MCCLURE FOUNDATION INC</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>030345186</EIN>
        <ElectingOrganizationInd>X</ElectingOrganizationInd>
        <TotalGrassrootsLobbyAmt>0</TotalGrassrootsLobbyAmt>
        <TotalDirectLobbyAmt>0</TotalDirectLobbyAmt>
        <TotalLobbyExpenditureAmt>0</TotalLobbyExpenditureAmt>
        <OtherExemptPurposeExpendAmt>1218056</OtherExemptPurposeExpendAmt>
        <TotalExemptPurposeExpendAmt>1218056</TotalExemptPurposeExpendAmt>
        <LobbyNontxAmt>196806</LobbyNontxAmt>
        <GrassrootsNontxAmt>49202</GrassrootsNontxAmt>
        <TotalLobbyGrssrootMnsNontxAmt>0</TotalLobbyGrssrootMnsNontxAmt>
        <TotLbbyExpendMnsLobbyNontxAmt>0</TotLbbyExpendMnsLobbyNontxAmt>
        <ShareExcessLobbyExpendAmt>0</ShareExcessLobbyExpendAmt>
      </AffiliatedScheduleGrp>
      <AffiliatedScheduleGrp>
        <BusinessName>
          <BusinessNameLine1Txt>ADDISON COMMUNITY ATHLETICS FOUNDATION INC</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>461164975</EIN>
        <TotalGrassrootsLobbyAmt>0</TotalGrassrootsLobbyAmt>
        <TotalDirectLobbyAmt>0</TotalDirectLobbyAmt>
        <TotalLobbyExpenditureAmt>0</TotalLobbyExpenditureAmt>
        <OtherExemptPurposeExpendAmt>273907</OtherExemptPurposeExpendAmt>
        <TotalExemptPurposeExpendAmt>273907</TotalExemptPurposeExpendAmt>
        <LobbyNontxAmt>54781</LobbyNontxAmt>
        <GrassrootsNontxAmt>13695</GrassrootsNontxAmt>
        <TotalLobbyGrssrootMnsNontxAmt>0</TotalLobbyGrssrootMnsNontxAmt>
        <TotLbbyExpendMnsLobbyNontxAmt>0</TotLbbyExpendMnsLobbyNontxAmt>
        <ShareExcessLobbyExpendAmt>0</ShareExcessLobbyExpendAmt>
      </AffiliatedScheduleGrp>
      <AffiliatedScheduleGrp>
        <BusinessName>
          <BusinessNameLine1Txt>CURTIS FUND INC</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>3 COURT STREET</AddressLine1Txt>
          <CityNm>MIDDLEBURY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05753</ZIPCd>
        </USAddress>
        <EIN>036009912</EIN>
        <TotalGrassrootsLobbyAmt>0</TotalGrassrootsLobbyAmt>
        <TotalDirectLobbyAmt>0</TotalDirectLobbyAmt>
        <TotalLobbyExpenditureAmt>0</TotalLobbyExpenditureAmt>
        <OtherExemptPurposeExpendAmt>1694132</OtherExemptPurposeExpendAmt>
        <TotalExemptPurposeExpendAmt>1694132</TotalExemptPurposeExpendAmt>
        <LobbyNontxAmt>234707</LobbyNontxAmt>
        <GrassrootsNontxAmt>58677</GrassrootsNontxAmt>
        <TotalLobbyGrssrootMnsNontxAmt>0</TotalLobbyGrssrootMnsNontxAmt>
        <TotLbbyExpendMnsLobbyNontxAmt>0</TotLbbyExpendMnsLobbyNontxAmt>
        <ShareExcessLobbyExpendAmt>0</ShareExcessLobbyExpendAmt>
      </AffiliatedScheduleGrp>
    </AffiliatedGroupSchedule>
  </ReturnData>
</Return>
