﻿<?xml version="1.0" encoding="utf-8"?>
<Return returnVersion="2016v3.0" xsi:schemaLocation="http://www.irs.gov/efile" xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2018-03-05T04:37:19-08:00</ReturnTs>
    <TaxPeriodEndDt>2017-10-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Mostert Manzanero &amp; Scott LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>4 Associate Dr</AddressLine1Txt>
        <CityNm>Oneonta</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>13820</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2016-11-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>166169167</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE PHILIP E POTTER FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>PHIL</BusinessNameControlTxt>
      <PhoneNum>6074326724</PhoneNum>
      <USAddress>
        <AddressLine1Txt>6 FORD AVENUE</AddressLine1Txt>
        <CityNm>ONEONTA</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>13820</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ANNE T WOLEK</PersonNm>
      <PersonTitleTxt>Foundation Mgr.</PersonTitleTxt>
      <SignatureDt>2018-03-05</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>DEBORAH L MOSTERT</PreparerPersonNm>
      <PTIN>P01213266</PTIN>
      <PhoneNum>6074328700</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2016</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="7">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation 8453SignatureDocument.1" softwareId="16000303" softwareVersionNum="2016v3.0">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>13206095</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>589</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>589</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>589</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>402025</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>402025</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>402025</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>108940</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>189825</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>108940</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSchedule2">307</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>307</OtherIncomeNetInvstIncmAmt>
        <OtherIncomeAdjNetIncmAmt>307</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>511861</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>511861</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>402921</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>52000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>52000</CompOfcrDirTrstNetInvstIncmAmt>
        <OthEmplSlrsWgsRevAndExpnssAmt>69846</OthEmplSlrsWgsRevAndExpnssAmt>
        <OthEmplSlrsWgsNetInvstIncmAmt>69846</OthEmplSlrsWgsNetInvstIncmAmt>
        <OthEmplSlrsWgsDsbrsChrtblAmt>34923</OthEmplSlrsWgsDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">1650</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>1650</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>825</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OtherProfessionalFeesSchedule">11000</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>11000</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">5131</TaxesRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">19528</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>18778</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>363</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>159155</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>153274</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>36111</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>496250</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>496250</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>655405</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>153274</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>532361</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-143544</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>358587</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>402921</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>286766</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>125005</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>125005</SavAndTempCashInvstEOYFMVAmt>
        <PrepaidExpensesBOYAmt>10000</PrepaidExpensesBOYAmt>
        <PrepaidExpensesEOYAmt>5370</PrepaidExpensesEOYAmt>
        <PrepaidExpensesEOYFMVAmt>5370</PrepaidExpensesEOYFMVAmt>
        <CorporateStockBOYAmt>5938749</CorporateStockBOYAmt>
        <CorporateStockEOYAmt>5994596</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>13019612</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>53018</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt>53018</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>56108</CorporateBondsEOYFMVAmt>
        <TotalAssetsBOYAmt>6288533</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>6177989</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>13206095</TotalAssetsEOYFMVAmt>
        <GrantsPayableBOYAmt>213625</GrantsPayableBOYAmt>
        <GrantsPayableEOYAmt>244625</GrantsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>213625</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>244625</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
        <UnrestrictedBOYAmt>6074908</UnrestrictedBOYAmt>
        <UnrestrictedEOYAmt>5933364</UnrestrictedEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>6074908</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>5933364</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>6288533</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>6177989</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>6074908</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-143544</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="OtherIncreasesSchedule">2000</OtherIncreasesAmt>
        <SubtotalAmt>5933364</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>5933364</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1500 BOARDWALK PIPELINE PARTNERS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2016-01-01</AcquiredDt>
          <SoldDt>2017-01-04</SoldDt>
          <GrossSalesPriceAmt>26369</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>26021</CostOrOtherBasisAmt>
          <GainOrLossAmt>348</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>348</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2000 COMMUNITY BANK</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2011-05-06</AcquiredDt>
          <SoldDt>2016-11-29</SoldDt>
          <GrossSalesPriceAmt>113234</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>26360</CostOrOtherBasisAmt>
          <GainOrLossAmt>86874</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>86874</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>500 SEMPRA ENERGY</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2008-09-15</AcquiredDt>
          <SoldDt>2016-11-28</SoldDt>
          <GrossSalesPriceAmt>50221</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>28504</CostOrOtherBasisAmt>
          <GainOrLossAmt>21717</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>21717</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BROOKFIELD INFR</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2016-01-01</AcquiredDt>
          <SoldDt>2017-06-30</SoldDt>
          <GrossSalesPriceAmt>1</GrossSalesPriceAmt>
          <GainOrLossAmt>1</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>108940</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>465734</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>11287438</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.04126</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>466905</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>11557268</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.04040</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>400562</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>11799331</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.03395</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>502260</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>10700267</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.04694</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>443660</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>9683868</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.04581</DistributionYr5Rt>
        <TotalDistributionRt>0.208361</TotalDistributionRt>
        <AverageDistributionRt>0.041672</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>12526098</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>521988</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>3586</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>525574</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>532361</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>3586</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>3586</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>3586</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>5369</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>5369</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>1783</OverpaymentAmt>
        <AppliedToESTaxAmt>1783</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>FOUNDATION</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>6074326724</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>6 FORD AVENUE</AddressLine1Txt>
          <CityNm>ONEONTA</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>13820</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>THOMAS EF WOLEK</PersonNm>
          <USAddress>
            <AddressLine1Txt>6 FORD AVE</AddressLine1Txt>
            <CityNm>ONEONTA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>13820</ZIPCd>
          </USAddress>
          <TitleTxt>Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>6500</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MAUREEN P HULBERTDECEASED</PersonNm>
          <USAddress>
            <AddressLine1Txt>6 FORD AVE</AddressLine1Txt>
            <CityNm>ONEONTA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>13820</ZIPCd>
          </USAddress>
          <TitleTxt>Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>6500</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ROBERT W MOYERDECEASED</PersonNm>
          <USAddress>
            <AddressLine1Txt>6 FORD AVE</AddressLine1Txt>
            <CityNm>ONEONTA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>13820</ZIPCd>
          </USAddress>
          <TitleTxt>Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANNE T WOLEK</PersonNm>
          <USAddress>
            <AddressLine1Txt>6 FORD AVE</AddressLine1Txt>
            <CityNm>ONEONTA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>13820</ZIPCd>
          </USAddress>
          <TitleTxt>Foundation Mgr.</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>10.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>24000</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SUE ANNE DE BERGH</PersonNm>
          <USAddress>
            <AddressLine1Txt>6 FORD AVE</AddressLine1Txt>
            <CityNm>ONEONTA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>13820</ZIPCd>
          </USAddress>
          <TitleTxt>Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>13000</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SALLY ANNE DUNLEAVY</PersonNm>
          <USAddress>
            <AddressLine1Txt>6 FORD AVE</AddressLine1Txt>
            <CityNm>ONEONTA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>13820</ZIPCd>
          </USAddress>
          <TitleTxt>Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>13000</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>12451746</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>265105</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>12716851</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>12716851</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>190753</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>12526098</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>626305</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>626305</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>3586</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>3586</TotalTaxAmt>
        <DistributableBeforeAdjAmt>622719</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>622719</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>622719</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>532361</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>532361</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>3586</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>528775</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>622719</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>107768</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>532361</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>107768</AppliedToYear1Amt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>424593</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>198126</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>ANNE T WOLEK MANAGING TRUSTEE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>6 FORD AVE</AddressLine1Txt>
            <CityNm>ONEONTA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>13820</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>6074326724</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>STANDARD APPLICATION FORM AVAILABLE AT AREA HIGH SCHOOL &amp; THE FOUNDATION OFFICE SETTING FORTH NEED, FINANCIAL, HIGH SCHOOL EVAL. &amp; COLLEGE</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>MAY 1</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>SCHOLARSHIPS AWARDED PRIMARILY TO ONEONTA HIGH SCHOOL GRADUATES, ONEONTA, NY 13820</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>DETAIL LIST ATTACHED</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>C/O 6 FORD AVE</AddressLine1Txt>
            <CityNm>ONEONTA</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>13820</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>EDUCATION</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>496250</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>496250</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>589</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>402025</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>108940</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>KINDER MORGAN CLASS ACT</Desc>
          <RelatedOrExemptFunctionIncmAmt>307</RelatedOrExemptFunctionIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>511554</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>307</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>511861</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="16000303" softwareVersionNum="2016v3.0">
      <AccountingFeesDetail>
        <CategoryTxt>ACCTING FEES</CategoryTxt>
        <Amt>1650</Amt>
        <NetInvestmentIncomeAmt>1650</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>825</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherExpensesScheduleGrp>
        <Desc>COMM BANK - SERVICE CHARGE</Desc>
        <RevenueAndExpensesPerBooksAmt>6</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>6</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>COMMUNITY BANK IM FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>7261</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>7261</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ISD - COMPUTER MAINTENANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>994</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>994</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LEGAL NOTICE</Desc>
        <RevenueAndExpensesPerBooksAmt>16</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>16</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MORGAN STANLEY NESTLES FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>20</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>20</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MORGAN STANLEY FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>5985</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>5985</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MORGAN STANLEY GLAXOSMITHKLINE</Desc>
        <RevenueAndExpensesPerBooksAmt>15</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>15</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MORGAN STANLEY NATL AUSTRALIA FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>40</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>40</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>NATL BENEFIT LIFE - DBL INS</Desc>
        <RevenueAndExpensesPerBooksAmt>80</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>80</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>80</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>NYS DEPT OF STATE</Desc>
        <RevenueAndExpensesPerBooksAmt>750</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>NYSUI</Desc>
        <RevenueAndExpensesPerBooksAmt>283</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>283</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>283</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>236</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>236</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PHILIDELPHIA INS - LIABILITY INS</Desc>
        <RevenueAndExpensesPerBooksAmt>1469</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1469</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>594</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>594</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SHREDDING</Desc>
        <RevenueAndExpensesPerBooksAmt>18</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>18</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>STATE INS WORKERS COMP INS</Desc>
        <RevenueAndExpensesPerBooksAmt>438</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>438</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>UTILITIES</Desc>
        <RevenueAndExpensesPerBooksAmt>1323</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1323</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherIncomeDetail>
        <Desc>KINDER MORGAN CLASS ACT</Desc>
        <RevenueAndExpensesPerBooksAmt>307</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>307</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>307</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherIncreasesDetail>
        <Desc>SCHOLARSHIP TO PRINCIPAL</Desc>
        <Amt>2000</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherProfessionalFeesDetail>
        <Amt>11000</Amt>
        <NetInvestmentIncomeAmt>11000</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <TaxesDetail>
        <CategoryTxt>2015 EXCISE TAX ON INVESTM INCOME</CategoryTxt>
        <Amt>5131</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>