﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2015v2.1" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2016-08-12T15:05:30-07:00</ReturnTs>
    <TaxPeriodEndDt>2015-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Jain &amp; Jain PC CPAs</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>77 Sugar Creek Center Blvd Suite 41</AddressLine1Txt>
        <CityNm>Sugar Land</CityNm>
        <StateAbbreviationCd>TX</StateAbbreviationCd>
        <ZIPCd>77478</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2015-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>201947794</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>DESHPANDE FAMILY FOUNDATION INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>DESH</BusinessNameControlTxt>
      <PhoneNum>4074818191</PhoneNum>
      <USAddress>
        <AddressLine1Txt>5401 S KIRKMAN ROAD SUITE 640</AddressLine1Txt>
        <CityNm>ORLANDO</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>32819</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ANIL DESHPANDE</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>4074818191</PhoneNum>
      <SignatureDt>2016-07-29</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>UMESH JAIN CPA</PreparerPersonNm>
      <PhoneNum>2812422420</PhoneNum>
      <PreparationDt>2016-08-12</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2015</TaxYr>
    <BuildTS>2016-12-15 16:53:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="13">
    <IRS990PF documentId="00000001" referenceDocumentName="ReasonableCauseExplanation GeneralExplanationAttachment">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>1736073</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>50175</DividendsRevAndExpnssAmt>
        <CapGainNetIncmNetInvstIncmAmt>0</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="00000009" referenceDocumentName="OtherIncomeSchedule2">23234</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>23234</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>73409</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>23234</TotalNetInvstIncmAmt>
        <OtherProfFeesRevAndExpnssAmt>3000</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>3000</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="00000013" referenceDocumentName="TaxesSchedule">1227</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>1227</TaxesNetInvstIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="00000008" referenceDocumentName="AmortizationSchedule OtherExpensesSchedule">7344</OtherExpensesRevAndExpnssAmt>
        <TotOprExpensesRevAndExpnssAmt>11571</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>4227</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>124540</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>0</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>136111</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>4227</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>0</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-62702</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>19007</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>95217</CashBOYAmt>
        <CashEOYAmt>4034</CashEOYAmt>
        <CashEOYFMVAmt>4034</CashEOYFMVAmt>
        <PrepaidExpensesBOYAmt>1000</PrepaidExpensesBOYAmt>
        <CorporateStockBOYAmt>442808</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="00000002" referenceDocumentName="InvestmentsCorpStockSchedule">430095</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>430095</CorporateStockEOYFMVAmt>
        <OtherInvestmentsBOYAmt>767758</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="00000003" referenceDocumentName="InvestmentsOtherSchedule2">766594</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>766594</OtherInvestmentsEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="00000004" referenceDocumentName="OtherAssetsSchedule">500000</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="00000005" referenceDocumentName="OtherAssetsSchedule">535350</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="00000006" referenceDocumentName="OtherAssetsSchedule">535350</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>1806783</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>1736073</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>1736073</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="00000011" referenceDocumentName="OtherLiabilitiesSchedule">14126</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="00000012" referenceDocumentName="OtherLiabilitiesSchedule">0</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>14126</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <CapitalStockBOYAmt>1832266</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>1792656</CapitalStockEOYAmt>
        <RetainedEarningBOYAmt>-39609</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>-56583</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1792657</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>1736073</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1806783</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1736073</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1792657</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-62702</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="00000010" referenceDocumentName="OtherIncreasesSchedule">6128</OtherIncreasesAmt>
        <SubtotalAmt>1736083</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="00000007" referenceDocumentName="OtherDecreasesSchedule">10</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>1736073</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <DistributionYr1Rt>0.000000</DistributionYr1Rt>
        <DistributionYr2Rt>0.000000</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>83735</AdjustedQlfyDistriYr3Amt>
        <DistributionYr3Rt>0.000000</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>62550</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>2112030</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.029616</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>28226</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>2053336</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.013746</DistributionYr5Rt>
        <TotalDistributionRt>0.043362</TotalDistributionRt>
        <AverageDistributionRt>0.008672</AverageDistributionRt>
        <NetInvestmentIncomePctAmt>190</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>190</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>0</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>380</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>380</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>380</TaxBasedOnInvestmentIncomeAmt>
        <AppliedToEsTaxAmt>1000</AppliedToEsTaxAmt>
        <TotalPaymentsAndCreditsAmt>1000</TotalPaymentsAndCreditsAmt>
        <OriginalReturnOverpaymentAmt>-1000</OriginalReturnOverpaymentAmt>
        <OverpaymentAmt>620</OverpaymentAmt>
        <AppliedToESTaxAmt>620</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>FL</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>true</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>ANIL DESHPANDE</IndividualWithBooksNm>
        <PhoneNum>4074818191</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>5401 S KIRKMAN ROAD SUITE 640</AddressLine1Txt>
          <CityNm>ORLANDO</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>32819</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>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <UndistrIncmSect4942a2NotAppInd>false</UndistrIncmSect4942a2NotAppInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANIL D DESHPANDE</PersonNm>
          <USAddress>
            <AddressLine1Txt>8839 SOUTHERN BREEZE DRIVE</AddressLine1Txt>
            <CityNm>ORLANDO</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32836</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>20.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CHITRA A DESHPANDE</PersonNm>
          <USAddress>
            <AddressLine1Txt>8839 SOUTHERN BREEZE DRIVE</AddressLine1Txt>
            <CityNm>ORLANDO</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32836</ZIPCd>
          </USAddress>
          <TitleTxt>VICE-PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>20.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANJALI A DESHPANDE</PersonNm>
          <USAddress>
            <AddressLine1Txt>8839 SOUTHERN BREEZE DRIVE</AddressLine1Txt>
            <CityNm>ORLANDO</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32836</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>20.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>0</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>0</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>0</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>0</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>0</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>0</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>0</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <TaxBasedOnInvestmentIncomeAmt>380</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>380</TotalTaxAmt>
        <DistributableAsAdjustedAmt>0</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>0</ExpensesAndContributionsAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>0</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>28226</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>62550</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>84621</ExcessDistributionCyovYr3Amt>
        <TotalExcessDistributionCyovAmt>175397</TotalExcessDistributionCyovAmt>
        <TotalCorpusAmt>175397</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>28226</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>147171</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>62550</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>84621</ExcessFromYear3Amt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>NONE</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>ANIL DESHPANDE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>8839 SOUTHERN BREEZE DRIVE</AddressLine1Txt>
            <CityNm>ORLANDO</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32836</ZIPCd>
          </RecipientUSAddress>
          <FormAndInfoAndMaterialsTxt>N/A</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>N/A</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>N/A</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>EKAL VIDYALAYA FOUNDATION OF USA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1712 HIGHWAY 6 SOUTH SUITE A</AddressLine1Txt>
            <CityNm>HOUSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77077</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE/EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>3650</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GENERATION OM INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 85</AddressLine1Txt>
            <CityNm>GOLDENROD</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32733</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE/EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ASIAN CULTURAL ASSOCIATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2759 MARSH WREN CIRCLE</AddressLine1Txt>
            <CityNm>LONGWOOD</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32779</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE/EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>1250</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>JIJNYASA RESEARCH &amp; EDUCATION FOUNDATION INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3700 34TH STREET</AddressLine1Txt>
            <CityNm>ORLANDO</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32805</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE/EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>91640</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>HINDU SOCIETY OF CENTRAL FLORIDA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1994 LAKE DRIVE</AddressLine1Txt>
            <CityNm>CASSELBERRY</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32707</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE/EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MMLA INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>4926 COYOTE WELLS CIRCLE</AddressLine1Txt>
            <CityNm>THOUSAND OAKS</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>91362</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE/EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>7500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NEPAL FUND</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5301 N FEDERAL HWY</AddressLine1Txt>
            <CityNm>BOCA RATON</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33487</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE/EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>124540</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <BusinessCd>523000</BusinessCd>
          <UnrelatedBusinessTaxblIncmAmt>50175</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionCd>14</ExclusionCd>
        </DivAndIntFromSecPartVIIGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>50175</UnrelatedBusinessTaxblIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>50175</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>
    <InvestmentsCorpStockSchedule documentId="00000002">
      <InvestmentsCorporateStockGrp>
        <StockNm>INVESTMENT-1792 LEE AH INVESTORS LLC</StockNm>
        <EOYBookValueAmt>130190</EOYBookValueAmt>
        <EOYFMVAmt>130190</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INVESTMENT-ALOMA MIDDLE INVESTORS LLC</StockNm>
        <EOYBookValueAmt>97983</EOYBookValueAmt>
        <EOYFMVAmt>97983</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INVESTMENT-ALOMA SC INVESTORS LLC</StockNm>
        <EOYBookValueAmt>196930</EOYBookValueAmt>
        <EOYFMVAmt>196930</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INVESTMENT-VISTAR ALABAMA</StockNm>
        <EOYBookValueAmt>4992</EOYBookValueAmt>
        <EOYFMVAmt>4992</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="00000003">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT-AEGIS-3990070918</CategoryOrItemTxt>
        <BookValueAmt>473281</BookValueAmt>
        <EOYFMVAmt>473281</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENT-MS 119672 117</CategoryOrItemTxt>
        <BookValueAmt>293313</BookValueAmt>
        <EOYFMVAmt>293313</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherAssetsSchedule documentId="00000004">
      <OtherAssetsScheduleGrp>
        <Desc>DUE FROM SUPREME EMPIRE CORP</Desc>
        <BOYBookValueAmt>500000</BOYBookValueAmt>
        <EOYBookValueAmt>500000</EOYBookValueAmt>
        <EOYFMVAmt>500000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>UNREALIZED GAINS/LOSSES ON INVESTMENTS</Desc>
        <EOYBookValueAmt>35350</EOYBookValueAmt>
        <EOYFMVAmt>35350</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherAssetsSchedule documentId="00000005">
      <OtherAssetsScheduleGrp>
        <Desc>DUE FROM SUPREME EMPIRE CORP</Desc>
        <BOYBookValueAmt>500000</BOYBookValueAmt>
        <EOYBookValueAmt>500000</EOYBookValueAmt>
        <EOYFMVAmt>500000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>UNREALIZED GAINS/LOSSES ON INVESTMENTS</Desc>
        <EOYBookValueAmt>35350</EOYBookValueAmt>
        <EOYFMVAmt>35350</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherAssetsSchedule documentId="00000006">
      <OtherAssetsScheduleGrp>
        <Desc>DUE FROM SUPREME EMPIRE CORP</Desc>
        <BOYBookValueAmt>500000</BOYBookValueAmt>
        <EOYBookValueAmt>500000</EOYBookValueAmt>
        <EOYFMVAmt>500000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>UNREALIZED GAINS/LOSSES ON INVESTMENTS</Desc>
        <EOYBookValueAmt>35350</EOYBookValueAmt>
        <EOYFMVAmt>35350</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="00000007">
      <OtherDecreasesDetail>
        <Desc>PENALTIES</Desc>
        <Amt>10</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="00000008">
      <OtherExpensesScheduleGrp>
        <Desc>ASSET MANAGEMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>2010</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>70</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>FOREIGN TAXES ON DIVIDEND</Desc>
        <RevenueAndExpensesPerBooksAmt>39</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MARGIN INTEREST</Desc>
        <RevenueAndExpensesPerBooksAmt>5225</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="00000009">
      <OtherIncomeDetail>
        <Desc>INVESTMENT-1792 LEE AH INVESTORS LLC</Desc>
        <RevenueAndExpensesPerBooksAmt>5475</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>5475</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>INVESTMENT-ALOMA MIDDLE INVESTORS</Desc>
        <RevenueAndExpensesPerBooksAmt>1209</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1209</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>INVESTMENT-ALOMA SC INVESTORS LLC</Desc>
        <RevenueAndExpensesPerBooksAmt>15660</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>15660</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>INVESTMENT-VISTAR ALABAMA, LLC</Desc>
        <RevenueAndExpensesPerBooksAmt>890</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>890</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="00000010">
      <OtherIncreasesDetail>
        <Desc>NET CAPITAL GAIN</Desc>
        <Amt>6128</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherLiabilitiesSchedule documentId="00000011">
      <OtherLiabilitiesDetail>
        <Desc>UNREALIZED GAINS/LOSSES ON INVESTMENTS</Desc>
        <BOYBookValueAmt>14126</BOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherLiabilitiesSchedule documentId="00000012">
      <OtherLiabilitiesDetail>
        <Desc>UNREALIZED GAINS/LOSSES ON INVESTMENTS</Desc>
        <BOYBookValueAmt>14126</BOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="00000013">
      <TaxesDetail>
        <CategoryTxt>INCOME TAX</CategoryTxt>
        <Amt>1227</Amt>
        <NetInvestmentIncomeAmt>1227</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>