﻿<?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>2017-05-15T09:42:28-07:00</ReturnTs>
    <TaxPeriodEndDt>2016-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>SABEL &amp; OPLINGER CPA PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>PO BOX 1307</AddressLine1Txt>
        <CityNm>SOUTHAMPTON</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>119691307</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2016-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>200510367</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>JAF FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>JAFF</BusinessNameControlTxt>
      <PhoneNum>6312875005</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 1307</AddressLine1Txt>
        <CityNm>SOUTHAMPTON</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>11969</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>JUERGEN A FRIEDRICH</PersonNm>
      <PersonTitleTxt>President</PersonTitleTxt>
      <SignatureDt>2017-05-15</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>ROBERT J STREBEL CPA</PreparerPersonNm>
      <PTIN>P00435213</PTIN>
      <PhoneNum>6312832370</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2016</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation" softwareId="16000303" softwareVersionNum="2016v3.0">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>10609261</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>441734</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>441734</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>441734</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>175869</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>8704080</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>175869</CapGainNetIncmNetInvstIncmAmt>
        <NetSTCapitalGainAdjNetIncmAmt>9787</NetSTCapitalGainAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>617603</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>617603</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>451521</TotalAdjNetIncmAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="LegalFeesSchedule">1067</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>534</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>533</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">24225</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>12112</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>12113</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OtherProfessionalFeesSchedule">66248</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>66248</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">9231</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>9231</TaxesNetInvstIncmAmt>
        <TravConfMeetingRevAndExpnssAmt>7700</TravConfMeetingRevAndExpnssAmt>
        <TravConfMeetingNetInvstIncmAmt>7700</TravConfMeetingNetInvstIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">25</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>25</OtherExpensesNetInvstIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>108496</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>95850</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>12646</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>546511</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>546511</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>655007</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>95850</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>559157</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-37404</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>521753</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>451521</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>212868</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>499521</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>499520</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>714743</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="InvestmentsGovtObligationsSche">663125</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>645672</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>5270871</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestmentsCorpStockSchedule">5818684</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>5836317</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>5338880</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="InvestmentsCorpBondsSchedule">4518736</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>3627752</CorporateBondsEOYFMVAmt>
        <TotalAssetsBOYAmt>11537362</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>11500066</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>10609261</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>4350</AccountsPayableBOYAmt>
        <AccountsPayableEOYAmt>4458</AccountsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>4350</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>4458</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
        <UnrestrictedBOYAmt>11533012</UnrestrictedBOYAmt>
        <UnrestrictedEOYAmt>11495608</UnrestrictedEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>11533012</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>11495608</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>11537362</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>11500066</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>11533012</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-37404</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>11495608</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>11495608</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MORGAN STANLEY</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2015-01-01</AcquiredDt>
          <SoldDt>2016-12-31</SoldDt>
          <GrossSalesPriceAmt>4431608</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>4265526</CostOrOtherBasisAmt>
          <GainOrLossAmt>166082</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>166082</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MORGAN STANLEY</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2016-06-30</AcquiredDt>
          <SoldDt>2016-12-31</SoldDt>
          <GrossSalesPriceAmt>4272472</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>4262685</CostOrOtherBasisAmt>
          <GainOrLossAmt>9787</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>9787</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>175869</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>9787</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>585236</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>11711511</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.04997</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>496732</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>12131763</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.04095</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>543676</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>12010048</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.04527</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>622573</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>11159091</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.05579</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>315082</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>11433116</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.02756</DistributionYr5Rt>
        <TotalDistributionRt>0.219534</TotalDistributionRt>
        <AverageDistributionRt>0.043907</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>10496928</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>460889</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>5218</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>466107</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>559157</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>5218</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>5218</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>5218</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>2000</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>2000</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="IRS2220">X</Form2220AttachedInd>
        <EsPenaltyAmt>51</EsPenaltyAmt>
        <TaxDueAmt>3269</TaxDueAmt>
      </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>SABEL &amp; OPLINGER CPA</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>6312832370</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>106 PROSPECT STREET</AddressLine1Txt>
          <CityNm>SOUTHAMPTON</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>11968</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>JUERGEN A FRIEDRICH</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 1307</AddressLine1Txt>
            <CityNm>SOUTHAMPTON</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11969</ZIPCd>
          </USAddress>
          <TitleTxt>President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>3.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANKE BECK-FRIEDRICH</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 1307</AddressLine1Txt>
            <CityNm>SOUTHAMPTON</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11969</ZIPCd>
          </USAddress>
          <TitleTxt>VP &amp; Treasurer</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JEFFREY TARRANT</PersonNm>
          <USAddress>
            <AddressLine1Txt>ONE ROCKEFELLER PLAZA</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10020</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>THOMAS OPLINGER</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO Box 1307</AddressLine1Txt>
            <CityNm>SOUTHAMPTON</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11969</ZIPCd>
          </USAddress>
          <TitleTxt>Treasurer</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>3.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>10096831</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>559949</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>10656780</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>10656780</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>159852</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>10496928</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>524846</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>524846</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>5218</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>5218</TotalTaxAmt>
        <DistributableBeforeAdjAmt>519628</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>519628</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>519628</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>559157</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>559157</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>5218</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>553939</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>519628</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>545206</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>559157</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>545206</AppliedToYear1Amt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>13951</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>505677</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>INTERNATIONAL YACHT RESTORATION SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>458 THAMES STREET</AddressLine1Txt>
            <CityNm>NEWPORT</CityNm>
            <StateAbbreviationCd>RI</StateAbbreviationCd>
            <ZIPCd>02840</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Public</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship Fund and Technical Equipment</GrantOrContributionPurposeTxt>
          <Amt>34000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BYRD HOFFMAN WATERMILL FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>55 Washington Street Gallery 216</AddressLine1Txt>
            <CityNm>Brooklyn</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11201</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Public</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>To support artists in the residency program</GrantOrContributionPurposeTxt>
          <Amt>78000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SOUTHAMPTON ROSE SOCIETY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO Box 1022</AddressLine1Txt>
            <CityNm>Southampton</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11969</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>General Support</GrantOrContributionPurposeTxt>
          <Amt>300</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>GABRIELLES ANGELS FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>136 East 57th Street Suite 1704</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10022</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CANCER RESEARCH</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE ROSS SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>18 GOODFRIEND DRIVE</AddressLine1Txt>
            <CityNm>EAST HAMPTON</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11937</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>STEVEN J. ROSS SCHOLARSHIP FUND</GrantOrContributionPurposeTxt>
          <Amt>80000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>SOUTHAMPTON CENTER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>25 JOBS LANE</AddressLine1Txt>
            <CityNm>SOUTHAMPTON</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11968</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT.</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ANIMAL RESCUE FUND OF THE HAMPTONS INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 901</AddressLine1Txt>
            <CityNm>WAINSCOTT</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11975</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Public</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>In Support Of Humane Treatment of Animals</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SOUTH FORK NATURAL HISTORY MUSEUM</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>377 BRIDGEHAMPTON SAG HARBOR TPKE</AddressLine1Txt>
            <CityNm>BRIDGEHAMPTON</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11932</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>MUSEUM FOR CHILDREN AND ADULTS TO EXPLORE LOCAL WILDLIFE AND EDUCATIONAL PROGRAMS</GrantOrContributionPurposeTxt>
          <Amt>52200</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SOUTHAMPTON VILLAGE-4TH OF JULY PARADE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>23 MAIN ST</AddressLine1Txt>
            <CityNm>SOUTHAMPTON</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>11968</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>COMMUNITY WELLFARE</GrantOrContributionPurposeTxt>
          <Amt>200</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LOMA LINDA DOUBLE HELIX</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>LOMA LINDA UNIVERSITY</AddressLine1Txt>
            <CityNm>LOMA LINDA</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>92350</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO CONTINUE THE TEACHING AND HEALING MINISTRY OF JESUS CHRIST. TRANSFORMING LIVES THROUGH EDUCATION, HEALTHCARE AND RESEARCH.</GrantOrContributionPurposeTxt>
          <Amt>197461</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ICAHN SCHOOL OF MEDICINE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1 GUSTAVE L LEVY PLACE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10029</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO ADVANCE THE ART AND SCIENCE OF MEDICAL CARE THROUGH AN ATMOSPHERE OF INTENSE COLLABORATIVE LEARNING, SOCIAL CONCERN, AND SCHOLARY INQUIRY.</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SAIL NEWPORT</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>60 FORT ADAMS DRIVE</AddressLine1Txt>
            <CityNm>NEWPORT</CityNm>
            <StateAbbreviationCd>RI</StateAbbreviationCd>
            <ZIPCd>02840</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROMOTE AFFORDABLE PUBLIC SAILING INSTRUCTION AND TO CREATE OPPORTUNITIES TO ATTRACT NEW SAILORS TO THE SPORT OF SAILING</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NEW YORK YACHT CLUB FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>37 WEST 44TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10036</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>FOR THE PRESERVATION OF THE CLUBS HISTORIC BUILDING IN NEW YORK AND NEWPORT AND TO FOSTER APPRECIATION FOR THE WORKS OF ACHITECTS ASSOCIATED WITH THESE PROPERTIES</GrantOrContributionPurposeTxt>
          <Amt>750</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>JEWISH AGENCY FOR ISRAEL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>633 THIRD AVENUE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10017</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO ENERGIZE YOUNG ISRAELIS AND THEIR PEERS SO THEY MAY BE ABLE TO REDISCOVER A COLLECTIVE SENSE OF JEWISH PURPOSE</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>THE OPERA FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>712 FIFTH AVENUE 32ND FLOOR</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10019</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>PROFESSIONAL SCHOLSHIPS AND STUDY GRANTS SUPPORTING YOUNG AMERICAN SINGERS.</GrantOrContributionPurposeTxt>
          <Amt>600</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>WELLS MOUNTAIN FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>25D MAIN STREET</AddressLine1Txt>
            <CityNm>BRISTOL</CityNm>
            <StateAbbreviationCd>VT</StateAbbreviationCd>
            <ZIPCd>05443</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO PROMOTE EDUCATION, LITERACY AND COMMUNITY. TO EMPOWER MOTIVATED INDIVIDUALS TO GROW PERSONNALY SO AS TO BE ABLE TO HAVE A MEANINGFL POSITIVE IMPACT IN THE COMMUNITY.</GrantOrContributionPurposeTxt>
          <Amt>8500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>546511</TotalGrantOrContriPdDurYrAmt>
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        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>441734</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>175869</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>441734</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>175869</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>617603</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>
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      <AccountingFeesDetail>
        <Amt>24225</Amt>
        <NetInvestmentIncomeAmt>12112</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>12113</DisbursementsCharitablePrpsAmt>
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    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="InvestmentsCorpBondsSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <InvestmentsCorporateBondsGrp>
        <BondNm>INVESTMENT ACCOUNT 235-001400-321</BondNm>
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      <InvestmentsCorporateBondsGrp>
        <BondNm>INVESTMENT ACCOUNT 235-037242-321</BondNm>
        <EOYBookValueAmt>4518736</EOYBookValueAmt>
        <EOYFMVAmt>3627752</EOYFMVAmt>
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    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <InvestmentsCorporateStockGrp>
        <StockNm>INVESTMENT ACCOUNT 235-036228-321</StockNm>
        <EOYBookValueAmt>1608466</EOYBookValueAmt>
        <EOYFMVAmt>1709935</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>INVESTMENT ACCOUNT 235-035658-321</StockNm>
        <EOYBookValueAmt>1179555</EOYBookValueAmt>
        <EOYFMVAmt>1164785</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
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        <EOYFMVAmt>489917</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
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      <InvestmentsCorporateStockGrp>
        <StockNm>INVESTMENT ACCOUNT 235-037243-321</StockNm>
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        <EOYFMVAmt>370191</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
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        <EOYFMVAmt>715365</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
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      <InvestmentsCorporateStockGrp>
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        <EOYFMVAmt>375018</EOYFMVAmt>
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    <InvestmentsGovtObligationsSch documentId="InvestmentsGovtObligationsSche" softwareId="16000303" softwareVersionNum="2016v3.0">
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        <CategoryTxt>Legal Fees</CategoryTxt>
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        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>533</DisbursementsCharitablePrpsAmt>
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        <Desc>DELAWARE FILING FEE</Desc>
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        <NetInvestmentIncomeAmt>25</NetInvestmentIncomeAmt>
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      <OtherProfessionalFeesDetail>
        <CategoryTxt>AGENCY PROCESSING FEES</CategoryTxt>
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        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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      <OtherProfessionalFeesDetail>
        <CategoryTxt>ASSET ADVISORY FEES</CategoryTxt>
        <Amt>65226</Amt>
        <NetInvestmentIncomeAmt>65226</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE TAXES</CategoryTxt>
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        <NetInvestmentIncomeAmt>472</NetInvestmentIncomeAmt>
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      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>8009</Amt>
        <NetInvestmentIncomeAmt>8009</NetInvestmentIncomeAmt>
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      <TaxesDetail>
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        <Amt>750</Amt>
        <NetInvestmentIncomeAmt>750</NetInvestmentIncomeAmt>
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</Return>