﻿<?xml version="1.0" encoding="utf-8"?>
<Return xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2016v3.1" xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2017-09-21T08:41:58-05:00</ReturnTs>
    <TaxPeriodEndDt>2016-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>BERKOWITZ POLLACK BRANT LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>200 S BISCAYNE BLVD 7th FL</AddressLine1Txt>
        <CityNm>MIAMI</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>33131</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2016-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>271024266</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>African Students' Education Fund Inc</BusinessNameLine1Txt>
      </BusinessName>
      <InCareOfNm>% JEFFREY M MUTNIK CPA</InCareOfNm>
      <BusinessNameControlTxt>AFRI</BusinessNameControlTxt>
      <PhoneNum>9547127094</PhoneNum>
      <USAddress>
        <AddressLine1Txt>200 S Biscayne Blvd Sixth FL</AddressLine1Txt>
        <CityNm>Miami</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>33131</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ERIK SCHMOLLINGER</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>9547127094</PhoneNum>
      <SignatureDt>2017-04-09</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>Jeffrey M Mutnik CPA</PreparerPersonNm>
      <PTIN>P00047373</PTIN>
      <PhoneNum>3053797000</PhoneNum>
      <PreparationDt>2017-06-22</PreparationDt>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>38.104.95.90</IPv4AddressTxt>
      </IPAddress>
      <FederalOriginalSubmissionId>65716920172645000002</FederalOriginalSubmissionId>
      <FederalOriginalSubmissionIdDt>2017-09-21</FederalOriginalSubmissionIdDt>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>6BC10B55F802F42EA9FFE47FF6D45558A8AF1AE3</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>EDEB88C6ECBFF00C3F089A426792153AD578BD19</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2016</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="7">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>999316</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>0</ContriRcvdRevAndExpnssAmt>
        <DividendsRevAndExpnssAmt>45092</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>9</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>14328</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>514328</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>14328</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>59420</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>14337</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <OthEmplSlrsWgsRevAndExpnssAmt>109823</OthEmplSlrsWgsRevAndExpnssAmt>
        <OthEmplSlrsWgsDsbrsChrtblAmt>109823</OthEmplSlrsWgsDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">104</TaxesRevAndExpnssAmt>
        <OccupancyRevAndExpnssAmt>7814</OccupancyRevAndExpnssAmt>
        <OccupancyDsbrsChrtblAmt>7814</OccupancyDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSch">86237</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>4648</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>96515</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>203978</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>4648</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>214152</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>273378</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>273378</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>477356</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>4648</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>487530</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-417936</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>9689</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>219922</CashBOYAmt>
        <CashEOYAmt>298350</CashEOYAmt>
        <CashEOYFMVAmt>298350</CashEOYFMVAmt>
        <RcvblFromOfficersBOYAmt>0</RcvblFromOfficersBOYAmt>
        <RcvblFromOfficersEOYAmt referenceDocumentId="OthRecblOfficersSch">3636</RcvblFromOfficersEOYAmt>
        <RcvblFromOfficersEOYFMVAmt>3636</RcvblFromOfficersEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>1241773</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="InvGovtObligSch">697330</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>697330</USGovtObligationsEOYFMVAmt>
        <OtherAssetsBOYAmt>0</OtherAssetsBOYAmt>
        <TotalAssetsBOYAmt>1461695</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>999316</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>999316</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
        <UnrestrictedBOYAmt>1461695</UnrestrictedBOYAmt>
        <UnrestrictedEOYAmt>999316</UnrestrictedEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1461695</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>999316</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1461695</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>999316</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1461695</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-417936</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>1043759</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="OtherDecreasesSch">44443</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>999316</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>JUNCTION CITY KS BOND</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2009-05-15</AcquiredDt>
          <SoldDt>2016-01-07</SoldDt>
          <GrossSalesPriceAmt>156565</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>150000</CostOrOtherBasisAmt>
          <GainOrLossAmt>6565</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>6565</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>JUNCTION CITY KS BOND</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2009-05-15</AcquiredDt>
          <SoldDt>2016-07-06</SoldDt>
          <GrossSalesPriceAmt>154552</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>150000</CostOrOtherBasisAmt>
          <GainOrLossAmt>4552</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>4552</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>JUNCTION CITY KS BOND</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2009-05-15</AcquiredDt>
          <SoldDt>2016-12-13</SoldDt>
          <GrossSalesPriceAmt>203211</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>200000</CostOrOtherBasisAmt>
          <GainOrLossAmt>3211</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>3211</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>14328</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>356397</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>1448835</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.245989</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>258387</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>1823175</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.141724</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>191468</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>1979652</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.096718</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>75519</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>1734801</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.043532</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>89311</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>453842</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.196789</DistributionYr5Rt>
        <TotalDistributionRt>0.724752</TotalDistributionRt>
        <AverageDistributionRt>0.14495</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>1169534</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>169524</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>97</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>169621</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>487530</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>97</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>97</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>97</TaxBasedOnInvestmentIncomeAmt>
        <TotalPaymentsAndCreditsAmt>0</TotalPaymentsAndCreditsAmt>
        <TaxDueAmt>97</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd referenceDocumentId="BinaryAttach">false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd referenceDocumentId="BinaryAttach">false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd referenceDocumentId="BinaryAttach">false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>FL</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>JEFFREY M MUTNIK CPA</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>3053797000</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>200 S BISCAYNE BLVD 6TH FLOOR</AddressLine1Txt>
          <CityNm>Miami</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>33131</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>true</ForeignAccountsQuestionInd>
        <ForeignCountryCd>RW</ForeignCountryCd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>true</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Erik Schmollinger</PersonNm>
          <USAddress>
            <AddressLine1Txt>c/o BPB 200 S Biscayne Blvd 6FL</AddressLine1Txt>
            <AddressLine2Txt>200 S Biscayne Blvd Sixth Floor</AddressLine2Txt>
            <CityNm>Miami</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33131</ZIPCd>
          </USAddress>
          <TitleTxt>President/Treasurer/Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>4.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Barbara A Stiefel</PersonNm>
          <USAddress>
            <AddressLine1Txt>c/o BPB 200 S Biscayne Blvd 6FL</AddressLine1Txt>
            <AddressLine2Txt>200 S Biscayne Blvd Sixth Floor</AddressLine2Txt>
            <CityNm>Miami</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33131</ZIPCd>
          </USAddress>
          <TitleTxt>V.P./ Secretary/Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Justine Schmollinger</PersonNm>
          <USAddress>
            <AddressLine1Txt>c/o BPB 200 S Biscayne Blvd 6FL</AddressLine1Txt>
            <AddressLine2Txt>200 S Biscayne Blvd Sixth Floor</AddressLine2Txt>
            <CityNm>Miami</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33131</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.0</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>N/A</Description1Txt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp />
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>975726</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>207878</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>3740</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>1187344</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>1187344</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>17810</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>1169534</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>58477</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>58477</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>97</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>97</TotalTaxAmt>
        <DistributableBeforeAdjAmt>58380</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>58380</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>58380</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>487530</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>487530</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>97</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>487433</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>58380</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2014</PriorYear1Yr>
        <PriorYear2Yr>2013</PriorYear2Yr>
        <PriorYear3Yr>2012</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>66807</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>0</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>93747</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>168438</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>284163</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>613155</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>487530</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>58380</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>429150</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>1042305</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>66807</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>975498</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>0</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>93747</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>168438</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>284163</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>429150</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp />
      <SupplementaryInformationGrp>
        <ContributingManagerNm>ERIK SCHMOLLINGER</ContributingManagerNm>
        <ShareholderManagerNm>NA</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SEE ATTACHMENT</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientForeignAddress>
            <AddressLine1Txt>SEE ATTACHMENT</AddressLine1Txt>
            <CountryCd>RW</CountryCd>
          </RecipientForeignAddress>
          <RecipientRelationshipTxt>NONE: INDIVIDUAL</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>Grant will be used to provide scholarships and support for related educational expenses to 936 children in over 30 schools within the Musanze District of Rwanda enabling them to continue their secondary education.</GrantOrContributionPurposeTxt>
          <Amt>273378</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>273378</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp />
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>45092</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncmPartVIIGrp />
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>14328</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>59420</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>59420</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>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsGovtObligationsSch documentId="InvGovtObligSch">
      <StateLocalSecBookVlEOYAmt>697330</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>697330</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <OtherDecreasesSchedule documentId="OtherDecreasesSch">
      <OtherDecreasesDetail>
        <Desc>UNREALIZED LOSS ON SECURITIES</Desc>
        <Amt>20488</Amt>
      </OtherDecreasesDetail>
      <OtherDecreasesDetail>
        <Desc>BOOK/TAX DIFFERENCE ON SECURTIES SALE</Desc>
        <Amt>23955</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>BANK FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>4648</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>4648</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OTHER ADMINISTRATIVE COSTS</Desc>
        <RevenueAndExpensesPerBooksAmt>93228</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>93228</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>EXCHANGE GAIN</Desc>
        <RevenueAndExpensesPerBooksAmt>-14926</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>VEHICLE EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>3287</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>3287</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherReceivablesOfficersSch documentId="OthRecblOfficersSch">
      <OfficerOtherRcvblGrp>
        <BorrowerPersonNm>ERIK SCHMOLLINGER</BorrowerPersonNm>
        <LoanOriginalAmt>0</LoanOriginalAmt>
        <BalanceDueAmt>3636</BalanceDueAmt>
        <NoteDt>2016-05</NoteDt>
        <RepaymentTermsTxt>ON DEMAND</RepaymentTermsTxt>
        <LoanPurposeTxt>DEPOSIT IN TRANSIT</LoanPurposeTxt>
      </OfficerOtherRcvblGrp>
    </OtherReceivablesOfficersSch>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>TAXES</CategoryTxt>
        <Amt>104</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>