﻿<?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="2018v3.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2019-11-15T16:08:41-06:00</ReturnTs>
    <TaxPeriodEndDt>2018-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>203515796</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>MAC CAPITAL PARTNERS INC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>2250 HICKORY ROAD SUITE 450</AddressLine1Txt>
        <CityNm>PLYMOUTH MEETING</CityNm>
        <StateAbbreviationCd>PA</StateAbbreviationCd>
        <ZIPCd>19462</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2018-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>550910574</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>SAND DOLLAR FUND</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>SAND</BusinessNameControlTxt>
      <PhoneNum>6108286331</PhoneNum>
      <USAddress>
        <AddressLine1Txt>2250 HICKORY ROAD NO 450</AddressLine1Txt>
        <CityNm>PLYMOUTH MEETING</CityNm>
        <StateAbbreviationCd>PA</StateAbbreviationCd>
        <ZIPCd>19462</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MARJORIE M FINDLAY</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>6108286331</PhoneNum>
      <SignatureDt>2019-11-07</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>DARRIN S KEELER</PreparerPersonNm>
      <PTIN>P01631718</PTIN>
      <PhoneNum>6108286331</PhoneNum>
      <PreparationDt>2019-11-07</PreparationDt>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>34.224.106.166</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2019-11-07</IPDt>
      <IPTm>09:21:50</IPTm>
      <IPTimezoneCd>ES</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>DA39A3EE5E6B4B0D3255BFEF95601890AFD80709</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>41BFBADB1A9C8BE1616AAF0C0DCFE8636779455F</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2018</TaxYr>
    <BuildTS>2020-03-31 21:24:44Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="5">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>8195978</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>5024066</ContriRcvdRevAndExpnssAmt>
        <DividendsRevAndExpnssAmt>151151</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>151151</DividendsNetInvstIncmAmt>
        <CapGainNetIncmNetInvstIncmAmt>0</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>5175217</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>151151</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">300</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>150</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>150</AccountingFeesChrtblPrpsAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">15</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>0</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>15</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>315</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>150</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>165</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>210000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>210000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>210315</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>150</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>210165</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>4964902</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>151001</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>10357</CashBOYAmt>
        <CashEOYAmt>10343</CashEOYAmt>
        <CashEOYFMVAmt>10343</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>70507</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>1011358</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>1011358</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>1664825</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">5688890</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>7174277</CorporateStockEOYFMVAmt>
        <TotalAssetsBOYAmt>1745689</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>6710591</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>8195978</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <CapitalStockBOYAmt>0</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>0</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>1745689</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>6710591</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1745689</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>6710591</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1745689</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>6710591</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1745689</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>4964902</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>6710591</SubtotalAmt>
        <OtherDecreasesAmt>0</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>6710591</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>0</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>1224385</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>3140950</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.389814</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>500150</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>2700695</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.185193</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>350165</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>2702735</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.129560</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>1286876</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>3362562</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.382707</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>4974225</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>6477907</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.767875</DistributionYr5Rt>
        <TotalDistributionRt>1.855149</TotalDistributionRt>
        <AverageDistributionRt>0.371030</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>5887730</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>2184524</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>1510</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>2186034</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>210165</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>3020</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>3020</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>3020</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>6679</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>6679</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <OverpaymentAmt>3659</OverpaymentAmt>
        <AppliedToESTaxAmt>3659</AppliedToESTaxAmt>
        <RefundAmt>0</RefundAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>PA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>MAC CAPITAL PARTNERS INC</IndividualWithBooksNm>
        <PhoneNum>6108286331</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>2250 HICKORY RD SUITE 450</AddressLine1Txt>
          <CityNm>PLYMOUTH MEETING</CityNm>
          <StateAbbreviationCd>PA</StateAbbreviationCd>
          <ZIPCd>19462</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>0</TransactionsFailToQlfyAsExcInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARJORIE M FINDLAY</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O 2250 HICKORY ROAD SUITE 450</AddressLine1Txt>
            <CityNm>PLYMOUTH MEETING</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19462</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>GEOFFREY T FREEMAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>C/O 2250 HICKORY ROAD SUITE 450</AddressLine1Txt>
            <CityNm>PLYMOUTH MEETING</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19462</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>5422565</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>554826</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>5977391</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>5977391</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>89661</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>5887730</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>294387</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>294387</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>3020</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>3020</TotalTaxAmt>
        <DistributableBeforeAdjAmt>291367</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>291367</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>291367</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>210165</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>210165</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>0</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>210165</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>291367</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>4678210</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>1124457</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>216391</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>366568</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>1068897</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>7454523</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>210165</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>210165</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>81202</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>81202</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>7373321</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>4597008</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>2776313</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>1124457</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>216391</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>366568</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>1068897</ExcessFromYear1Amt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>MARJORIE M FINDLAY</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ONE ELEUTHERA FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>103 DUMBARTON COURT</AddressLine1Txt>
            <CityNm>CARY</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27511</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>210000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>210000</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>151151</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>151151</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>151151</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>GRACE III LLC</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>C/O 2250 HICKORY RD SUITE 450</AddressLine1Txt>
          <CityNm>PLYMOUTH MEETING</CityNm>
          <StateAbbreviationCd>PA</StateAbbreviationCd>
          <ZIPCd>19462</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>5024066</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>1</ContributorNum>
        <NoncashPropertyDesc>32,643 SHARES JOHNSON &amp; JOHNSON COMMON STOCK</NoncashPropertyDesc>
        <FairMarketValueAmt>4024066</FairMarketValueAmt>
        <ReceivedDt>2018-06-13</ReceivedDt>
      </NonCashPropertyContributionGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>300</Amt>
        <NetInvestmentIncomeAmt>150</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>150</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>55,593 SHS JOHNSON &amp; JOHNSON</StockNm>
        <EOYBookValueAmt>5688890</EOYBookValueAmt>
        <EOYFMVAmt>7174277</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>FILING FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>15</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>15</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
  </ReturnData>
</Return>