﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2017v2.2" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2018-09-14T10:55:15-07:00</ReturnTs>
    <TaxPeriodEndDt>2018-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>223491267</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>LEAF MIELE MANGANELLI FORTUNATO &amp; ENGEL</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>310 PASSAIC AVE</AddressLine1Txt>
        <CityNm>FAIRFIELD</CityNm>
        <StateAbbreviationCd>NJ</StateAbbreviationCd>
        <ZIPCd>070042530</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2017-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>134022751</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE GRODZINS FUND</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>GROD</BusinessNameControlTxt>
      <PhoneNum>2122881356</PhoneNum>
      <USAddress>
        <AddressLine1Txt>155 EAST 77TH STREET</AddressLine1Txt>
        <CityNm>NEW YORK</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>10075</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>LOUIS SLESIN</PersonNm>
      <PersonTitleTxt>President</PersonTitleTxt>
      <SignatureDt>2018-09-14</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>LAWRENCE R LEAF CPA</PreparerPersonNm>
      <PTIN>P00028774</PTIN>
      <PhoneNum>9738089500</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2017</TaxYr>
    <BuildTS>2022-09-23 18:48:47Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation 990PFBinaryAttachments.1 990PFBinaryAttachments.2" softwareId="17005038" softwareVersionNum="2017v2.2">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>3832802</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>72332</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>72332</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>540</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>1875332</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>540</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>72872</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>72872</TotalNetInvstIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">2900</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>957</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>1943</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OtherProfessionalFeesSchedule">28850</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>9521</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>19329</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">3012</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>345</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>701</TaxesDsbrsChrtblAmt>
        <OccupancyRevAndExpnssAmt>9000</OccupancyRevAndExpnssAmt>
        <OccupancyNetInvstIncmAmt>2970</OccupancyNetInvstIncmAmt>
        <OccupancyDsbrsChrtblAmt>6030</OccupancyDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">1194</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>395</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>799</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>44956</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>14188</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>28802</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>175250</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>175250</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>220206</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>14188</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>204052</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-147334</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>58684</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>9148</CashBOYAmt>
        <CashEOYAmt>14181</CashEOYAmt>
        <CashEOYFMVAmt>14181</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>130817</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>147470</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>147470</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>729406</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt>149454</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>149535</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>1721603</CorporateStockBOYAmt>
        <CorporateStockEOYAmt>2240669</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>2654260</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>982173</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt>874039</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>867356</CorporateBondsEOYFMVAmt>
        <LandBldgEquipCostOrOtherBssAmt>10534</LandBldgEquipCostOrOtherBssAmt>
        <LandBldgEquipAccumDeprecAmt>10534</LandBldgEquipAccumDeprecAmt>
        <TotalAssetsBOYAmt>3573147</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>3425813</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>3832802</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <RetainedEarningBOYAmt>3573147</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>3425813</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>3573147</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>3425813</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>3573147</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>3425813</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>3573147</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-147334</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>3425813</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>3425813</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1779 NRG ENERGY INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-02-15</AcquiredDt>
          <SoldDt>2017-07-27</SoldDt>
          <GrossSalesPriceAmt>43919</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>31125</CostOrOtherBasisAmt>
          <GainOrLossAmt>12794</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>12794</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2485 REGAL ENTMT GROUP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-08-22</AcquiredDt>
          <SoldDt>2017-11-29</SoldDt>
          <GrossSalesPriceAmt>51195</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>36379</CostOrOtherBasisAmt>
          <GainOrLossAmt>14816</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>14816</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>524 NRG ENERGY INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-02-15</AcquiredDt>
          <SoldDt>2017-11-30</SoldDt>
          <GrossSalesPriceAmt>14610</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>9168</CostOrOtherBasisAmt>
          <GainOrLossAmt>5442</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>5442</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1098 REGAL ENTMT GROUP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-08-22</AcquiredDt>
          <SoldDt>2017-12-01</SoldDt>
          <GrossSalesPriceAmt>22531</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>16074</CostOrOtherBasisAmt>
          <GainOrLossAmt>6457</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>6457</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>760 REGAL ENTMT GROUP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-08-22</AcquiredDt>
          <SoldDt>2017-12-04</SoldDt>
          <GrossSalesPriceAmt>15525</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>11126</CostOrOtherBasisAmt>
          <GainOrLossAmt>4399</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>4399</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>223 JACOBS ENGR GROUP INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-01-08</SoldDt>
          <GrossSalesPriceAmt>15076</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>9460</CostOrOtherBasisAmt>
          <GainOrLossAmt>5616</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>5616</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>409 WILLIAMS COS INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-01-08</SoldDt>
          <GrossSalesPriceAmt>13230</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>12466</CostOrOtherBasisAmt>
          <GainOrLossAmt>764</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>764</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>0.11 NUTRIEN LTE</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-01-11</SoldDt>
          <GrossSalesPriceAmt>6</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>5</CostOrOtherBasisAmt>
          <GainOrLossAmt>1</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>602 CISCO SYSTEMS INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-02-02</SoldDt>
          <GrossSalesPriceAmt>24798</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>17089</CostOrOtherBasisAmt>
          <GainOrLossAmt>7709</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>7709</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>145 L3 TECHNOLOGIES INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-02-02</SoldDt>
          <GrossSalesPriceAmt>30567</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>17937</CostOrOtherBasisAmt>
          <GainOrLossAmt>12630</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>12630</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2039 C S X CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-02-05</SoldDt>
          <GrossSalesPriceAmt>110372</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>94354</CostOrOtherBasisAmt>
          <GainOrLossAmt>16018</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>16018</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>674 NRG ENERGY INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-02-05</SoldDt>
          <GrossSalesPriceAmt>17426</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>11792</CostOrOtherBasisAmt>
          <GainOrLossAmt>5634</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>5634</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>334 JACOBS ENGR GROUP INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-02-06</SoldDt>
          <GrossSalesPriceAmt>21145</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>14177</CostOrOtherBasisAmt>
          <GainOrLossAmt>6968</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>6968</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1251 CISCO SYSTEMS INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-02-08</SoldDt>
          <GrossSalesPriceAmt>49316</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>36160</CostOrOtherBasisAmt>
          <GainOrLossAmt>13156</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>13156</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>209 Motorola Solutions Inc</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-02-08</SoldDt>
          <GrossSalesPriceAmt>20848</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>13407</CostOrOtherBasisAmt>
          <GainOrLossAmt>7441</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>7441</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>30000 RIO TINTO FIN USA LT</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-04-19</SoldDt>
          <GrossSalesPriceAmt>31219</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>30000</CostOrOtherBasisAmt>
          <GainOrLossAmt>1219</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1219</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>766 VISTRA ENERGY CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-05-07</SoldDt>
          <GrossSalesPriceAmt>18200</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>15023</CostOrOtherBasisAmt>
          <GainOrLossAmt>3177</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>3177</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 CHARLES SCHWAB CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>35062</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>34999</CostOrOtherBasisAmt>
          <GainOrLossAmt>63</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>63</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>850 FLOWSERVE CORPORATION</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-02-10</AcquiredDt>
          <SoldDt>2017-08-18</SoldDt>
          <GrossSalesPriceAmt>32542</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>43349</CostOrOtherBasisAmt>
          <GainOrLossAmt>-10807</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-10807</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>380 FLOWSERVE CORPORATION</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-02-10</AcquiredDt>
          <SoldDt>2017-08-21</SoldDt>
          <GrossSalesPriceAmt>14339</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>18433</CostOrOtherBasisAmt>
          <GainOrLossAmt>-4094</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-4094</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>550 FLOWSERVE CORPORATION</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-05-02</AcquiredDt>
          <SoldDt>2017-08-22</SoldDt>
          <GrossSalesPriceAmt>21017</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>27449</CostOrOtherBasisAmt>
          <GainOrLossAmt>-6432</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-6432</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>757 ALASKA AIR CROUP INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2001-01-01</AcquiredDt>
          <SoldDt>2018-06-30</SoldDt>
          <GrossSalesPriceAmt>55509</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>71430</CostOrOtherBasisAmt>
          <GainOrLossAmt>-15921</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-15921</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1165 C B S CORP-CLASS B</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-08-10</AcquiredDt>
          <SoldDt>2017-11-03</SoldDt>
          <GrossSalesPriceAmt>64383</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>77091</CostOrOtherBasisAmt>
          <GainOrLossAmt>-12708</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-12708</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1652 CABOT IOL &amp; GAS CORP CL A</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-11-14</AcquiredDt>
          <SoldDt>2017-11-07</SoldDt>
          <GrossSalesPriceAmt>45380</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>55381</CostOrOtherBasisAmt>
          <GainOrLossAmt>-10001</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-10001</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2290 CABOT IOL &amp; GAS CORP CL A</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-02-08</SoldDt>
          <GrossSalesPriceAmt>53510</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>60041</CostOrOtherBasisAmt>
          <GainOrLossAmt>-6531</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-6531</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1983 Enbridge Inc</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-02-09</SoldDt>
          <GrossSalesPriceAmt>67264</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>68726</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1462</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1462</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2610 AT&amp;T INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-04-26</SoldDt>
          <GrossSalesPriceAmt>86019</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>92649</CostOrOtherBasisAmt>
          <GainOrLossAmt>-6630</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-6630</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>653 DELUXE CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-04-27</SoldDt>
          <GrossSalesPriceAmt>46023</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>46295</CostOrOtherBasisAmt>
          <GainOrLossAmt>-272</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-272</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>221 DELUXE CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-04-30</SoldDt>
          <GrossSalesPriceAmt>15325</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>16070</CostOrOtherBasisAmt>
          <GainOrLossAmt>-745</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-745</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>3210 WILLIAMS COS INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-08-07</SoldDt>
          <GrossSalesPriceAmt>84933</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>96462</CostOrOtherBasisAmt>
          <GainOrLossAmt>-11529</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-11529</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1700 AMERICAN INTERNATIONAL GROUP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-07</SoldDt>
          <GrossSalesPriceAmt>91629</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>104834</CostOrOtherBasisAmt>
          <GainOrLossAmt>-13205</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-13205</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>325 ANTHEM INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-07</SoldDt>
          <GrossSalesPriceAmt>74657</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>75944</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1287</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1287</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1408 WALGREENS BOOTS ALLIANCE INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-07</SoldDt>
          <GrossSalesPriceAmt>89618</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>102405</CostOrOtherBasisAmt>
          <GainOrLossAmt>-12787</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-12787</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 Georgia Power Company</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>35609</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>36374</CostOrOtherBasisAmt>
          <GainOrLossAmt>-765</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-765</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 UNION PACIFIC CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>35661</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>36967</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1306</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1306</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 TRANS-CANADA PIPELINES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>35401</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>36393</CostOrOtherBasisAmt>
          <GainOrLossAmt>-992</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-992</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>25000 DOVER CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>25626</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>26160</CostOrOtherBasisAmt>
          <GainOrLossAmt>-534</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-534</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>25000 E.I. DU PONT DE NEMOU</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>25695</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>26189</CostOrOtherBasisAmt>
          <GainOrLossAmt>-494</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-494</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 JP MORGAN CHASE &amp; CO</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>36273</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>36961</CostOrOtherBasisAmt>
          <GainOrLossAmt>-688</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-688</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 APPLIED MATERIALS INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>36116</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>37474</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1358</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1358</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>30000 MEDTRONIC INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>30735</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>31272</CostOrOtherBasisAmt>
          <GainOrLossAmt>-537</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-537</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 UNITED TECHNOLOGIES CO</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>34236</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>34983</CostOrOtherBasisAmt>
          <GainOrLossAmt>-747</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-747</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>30000 UNITED PARCEL SERVICE</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>29258</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>29953</CostOrOtherBasisAmt>
          <GainOrLossAmt>-695</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-695</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 CATERPILLAR FINL</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>34614</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>34993</CostOrOtherBasisAmt>
          <GainOrLossAmt>-379</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-379</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 TRANS-CANADA PIPELINES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>34546</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>34869</CostOrOtherBasisAmt>
          <GainOrLossAmt>-323</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-323</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 CANADIAN NTL RAILWAY</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>34708</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>34987</CostOrOtherBasisAmt>
          <GainOrLossAmt>-279</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-279</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 ANHEUSER-BUSCH INBEV</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>34787</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>34925</CostOrOtherBasisAmt>
          <GainOrLossAmt>-138</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-138</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>35000 NEVADA POWER CO</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2018-06-18</SoldDt>
          <GrossSalesPriceAmt>34874</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>34992</CostOrOtherBasisAmt>
          <GainOrLossAmt>-118</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-118</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>540</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>9867</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>225033</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>3835185</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.05868</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>195661</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>3892839</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.05026</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>213373</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>4220820</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.05055</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>208956</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>4050730</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.05159</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>185524</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>3677178</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.05045</DistributionYr5Rt>
        <TotalDistributionRt>0.261528</TotalDistributionRt>
        <AverageDistributionRt>0.052306</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>3866886</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>202261</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>587</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>202848</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>204052</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>587</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>587</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>587</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>2000</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>2000</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="IRS2220">X</Form2220AttachedInd>
        <OverpaymentAmt>1413</OverpaymentAmt>
        <AppliedToESTaxAmt>1413</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>false</Form990TFiledInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>NY</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>LOUIS SLESIN</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>2122881356</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>155 EAST 77TH STREET NO 3 F</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10075</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <UndistrIncmSect4942a2NotAppInd>false</UndistrIncmSect4942a2NotAppInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <ExcessBusinessHoldingsInd>false</ExcessBusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd>false</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <ProceedsOrNetIncomeInd>false</ProceedsOrNetIncomeInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LOUIS SLESIN</PersonNm>
          <USAddress>
            <AddressLine1Txt>155 EAST 77TH STREET NO 3 F</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10075</ZIPCd>
          </USAddress>
          <TitleTxt>President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LESLI RICE</PersonNm>
          <USAddress>
            <AddressLine1Txt>155 EAST 77TH STREET NO 3 F</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10075</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MUFFIE MEYER</PersonNm>
          <USAddress>
            <AddressLine1Txt>390 WEST END AVENUE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10024</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>3903604</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>22169</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>3925773</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>3925773</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>58887</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>3866886</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>193344</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>193344</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>587</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>587</TotalTaxAmt>
        <DistributableBeforeAdjAmt>192757</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>192757</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>192757</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>204052</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>204052</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>587</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>203465</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>192757</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr4Amt>9316</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>9602</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>4327</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>37170</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>60415</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>204052</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>192757</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>11295</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>71710</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>71710</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>9316</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>9602</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>4327</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>37170</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>11295</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>SEE SCHEDULE ATTACHED -</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1220 L STREET NW SUITE 300</AddressLine1Txt>
            <CityNm>WASHINGTON</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20005</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUSTAINING</GrantOrContributionPurposeTxt>
          <Amt>175250</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>175250</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>72332</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>540</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>72872</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>72872</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule" softwareId="17005038" softwareVersionNum="2017v2.2">
      <AccountingFeesDetail>
        <CategoryTxt>LEAF MIELE MANGANELLI FORTUNATO &amp; ENGEL</CategoryTxt>
        <Amt>2900</Amt>
        <NetInvestmentIncomeAmt>957</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1943</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <LandEtcSchedule2 documentId="LandEtcSchedule2" softwareId="17005038" softwareVersionNum="2017v2.2">
      <LandEtcGrp>
        <CategoryOrItemTxt>Furniture and Fixtures</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>10534</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>10534</AccumulatedDepreciationAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="17005038" softwareVersionNum="2017v2.2">
      <OtherExpensesScheduleGrp>
        <Desc>FEES AND PERMITS</Desc>
        <RevenueAndExpensesPerBooksAmt>405</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>134</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>271</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Meals and Entertainment</Desc>
        <RevenueAndExpensesPerBooksAmt>122</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>40</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>82</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>38</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>13</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>25</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>TELEPHONE</Desc>
        <RevenueAndExpensesPerBooksAmt>629</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>208</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>421</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedule" softwareId="17005038" softwareVersionNum="2017v2.2">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>BNY MELLON</CategoryTxt>
        <Amt>4193</Amt>
        <NetInvestmentIncomeAmt>1384</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2809</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>NEUBERGER &amp; BERMAN</CategoryTxt>
        <Amt>24657</Amt>
        <NetInvestmentIncomeAmt>8137</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>16520</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="17005038" softwareVersionNum="2017v2.2">
      <TaxesDetail>
        <CategoryTxt>Excise Tax</CategoryTxt>
        <Amt>1966</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>foreign taxes</CategoryTxt>
        <Amt>1046</Amt>
        <NetInvestmentIncomeAmt>345</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>701</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>