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      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>1</FSAudited>
      <AuditCommittee>1</AuditCommittee>
      <FinancialStatementSeparate>X</FinancialStatementSeparate>
      <FederalGrantAuditRequired>0</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <TotalOfBookValueLandBuildings>0</TotalOfBookValueLandBuildings>
      <OtherSecurities>
        <Description>MUTUAL FUNDS</Description>
        <BookValue>245064</BookValue>
        <MethodOfValuation>F</MethodOfValuation>
      </OtherSecurities>
      <TotalOfBookValueSecurities>245064</TotalOfBookValueSecurities>
      <TotalRevenue>365262</TotalRevenue>
      <TotalExpenses>424941</TotalExpenses>
      <ExcessOrDeficitForYear>-59679</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>-6010</NetUnrealizedGLOnInvestments>
      <TotalAdjustments>-6010</TotalAdjustments>
      <ExcessOrDeficitPerFS>-65689</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>359252</TotRevenueEtcAuditedFinclStmt>
      <NetUnrealizedGainsInvestments>-6010</NetUnrealizedGainsInvestments>
      <RevenueNotRptdF990>-6010</RevenueNotRptdF990>
      <RevenueSubtotal>365262</RevenueSubtotal>
      <RevenueNotRptdOnFinStmt>0</RevenueNotRptdOnFinStmt>
      <TotalRevenuePerForm990>365262</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>424941</TotExpensesEtcAuditedFinclStmt>
      <ExpensesNotRptdF990>0</ExpensesNotRptdF990>
      <ExpensesSubtotal>424941</ExpensesSubtotal>
      <ExpensesNotRptdOnFinStmt>0</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>424941</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
        <Identifier>DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:</Identifier>
        <ReturnReference>PART X:</ReturnReference>
        <Explanation>THE ASSOCIATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. THE ASSOCIATION IS SUBJECT TO INCOME TAX, HOWEVER, ON ANY UNRELATED BUSINESS INCOME. THERE WERE NO TAXES OWED FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010. THE FEDERAL AND STATE TAX RETURNS OF THE ASSOCIATION FOR 2008, 2009, AND 2010 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED.</Explanation>
      </Form990ScheduleDPartXIV>
    </IRS990ScheduleD>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 3</ReturnReference>
        <Explanation>THE ASSOCIATION HAS CONTRACTED WITH A FULL SERVICE ASSOCIATION MANAGEMENT COMPANY WHO PROVIDES DAY-TO-DAY OPERATIONS UNDER THE SUPERVISION OF THE BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 6</ReturnReference>
        <Explanation>THE ASSOCIATION CONSISTS OF THREE CLASSES OF MEMBERS; DISTRIBUTOR MEMBERS, ASSOCIATE MEMBERS AND LIFETIME MEMBERS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7A</ReturnReference>
        <Explanation>AT EACH ANNUAL MEETING OF MEMBERS, THE MEMBERS ENTITLED TO VOTE AND PRESENT EITHER IN PERSON OR BY PROXY SHALL ELECT SUCCESSORS TO THE DIRECTORS WHOSE TERMS EXPIRE IN THAT YEAR.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>A COPY OF FORM 990 IS REVIEWED FOR COMPLETENESS AND ACCURACY BY THE EXECUTIVE DIRECTOR BEFORE FILING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5:</ReturnReference>
        <Explanation>NET UNREALIZED LOSSES ON INVESTMENTS: -6,010.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART XII, LINE 2C</ReturnReference>
        <Explanation>THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITORS.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>